lynch for that he's been mike l nch for that he's been lynch for that he's been mike lynch for that he's been cleared of lynch for that he's been mike lynch for that he's been cleared of chares lynch for that he's been mike lynch for that he's been cleared of chares related lynch for that he's been mike lynch for that he's been cleared of chares related to cleared of charges related to the 11 billion sale of a software firm to hewlett— packard software firm to hewlett—packard in 2011 for the evan delmore has a story. it was one of the top 100 public companies in the uk. the sale part the your largest ever takeover for the british technology business the hewlett—packa rd technology business the hewlett—packard later technology business the hewlett—packa rd later wrote down the companies value by $8 billion leading to criminal charges that mike lynch had defrauded hewlett—packard by defrauded hewlett—packa rd by devaluing defrauded hewlett—packard by devaluing the value for the extradited and to stand trial on the charges we could have put him in prison for 25 years. now after two days of deliberations by a jury in san francisco he has been found not guilty on all counts. mr lynch said he is elated with today's verdict and grateful to the jury verdict and grateful to the jury for their attention to the facts. he thanked his legal

team and said he was looking forward to getting back to his family and his work in the uk. it's a stunning reversal for mr lynch was been involved in legal battles over autonomy sale for more than a decade. he in the formerfinance sale for more than a decade. he in the former finance chief lost a civil trial in the uk two years ago, which also focused on allegations that they are slated revenue before they are slated revenue before the sale to hewlett—packard in 2011. for the first time in five years, the european central bank has cut interest rates. the move was widely expected — with inflation easing in the 20 first samsung it's a first—ever. the union was set “p first—ever. the union was set up in 2020, before

then there was no union. when i worked in samsung there was no union. it's very hard—working company. employees work very hard and they used to work very long hours. these days i'm actually the company is becoming much more lenient and ours are not as severe as what they used to be. from what i hear. actually conditions are improving quite a lot compared to ten or 15 years ago. for improving quite a lot compared to ten or 15 years ago.- to ten or 15 years ago. for the first time — to ten or 15 years ago. for the first time in — to ten or 15 years ago. for the first time in five _ to ten or 15 years ago. for the first time in five years - first time in five years european central bank is cut interest rates. the move was widely expected — with inflation easing in the 20 european countries that use the euro. the pandemic and russia's invasion of ukraine had a big impact on those eurozone nations — driving up the cost of everything from food to energy. for more, let's speak to daniel murray, chief executive of efg asset management switzerland.

i think the situation in asia is interesting. obviously, different situations depending on which country you're looking at. the monetary authority and singapore for example, they usually don't set policy by interest rate by use currency is the main policy dave indicated that they are very happy to continue to let the currency strengthen gently and that in effect represents monetary tightening. the bank ofjapan famously hikes monetary tightening. the bank of japan famously hikes rates for the first time in... since 2005, just recently. and expected to gently tighten policy as the year progresses. although it's not certain. of course we have the bank of china, which they hope would loosen more already. while they have done certain measures to try to support the housing market and support the economy

generally, dave done less than some people and hope for for that it's quite a different outlook in asia depending on which country you are looking at. in the coming hours, we'll also get a rate decision from india's central bank. it's widely expected to keep the cost of borrowing on hold. the announcement comes against the backdrop of narendra modi's bjp—led alliance securing a narrower—than—expected election victory, which may slow economic reforms. archana shukla has more from mumbai. higherfood prices, a robust economic growth, and a new coalition government still under formation. there's reasons aplenty why economists feel india's central bank will leave the interest rates unchanged for eight consecutive time and cuts pushed to much later in the year. now, while inflation has eased, it was still 4.83% in april, mostly driven by stubbornly high prices of cereals, spices and vegetables. keeping inflation higher than rbi's stated target of li%, which is needed to pivot to a rate cut.

and the rbi doesn't have compulsions, too. like other global central banks, such as in europe and canada, that are dealing with slower economic growth and have moved on to cut rates. as inflation eased. india reported an 8% plus economic expansion in the last fiscal. projections are it will grow at near 7% in the coming quarters, giving rbi enough room. besides, the new government is yet to take over, likely narendra modi in a rare third term. but his party will need allies to form the government. now, larger reforms are expected to slow down, and economists feel an alliance could push the government to spend more on welfare programmes, risking its promise of reducing the fiscal deficit. rbi's views on the new government and its fiscal policy in the upcoming budget will be crucial to watch out for. from one election to another — this time south africa. parties have until the 16th ofjune to try and form some sort of coalition government after recent elections. but the country is facing a

number of economic challenges — including high unemployment. the bbc�*s aaron heslehurst has been speaking to the finance spokesman for the democratic alliance which came second in the vote and asked him what the solution is. now, the reason why unemployment is so high is obviously our economy is not growing. so we need to focus on the fundamental problems. we need to get our economy to grow. and the reason why it's not growing is that government is in the wrong place in our economy. it needs to build infrastructure. it needs to provide education and health care and social security and then get out of the way and let business thrive in south africa. that's the problem. government regulation has strangled business in our country, which obviously affects the tax rate. the other part of the problem is we have labour laws that are not working, but we're trying to find a way that will enable us to go forward without

unravelling everything else. dionne, the credit agency, moody's, it's one that any coalition will find it difficult to run the economy. and the head of south africa's biggest trade union, which is, of course, an important ally of the anc party, they told the sunday world newspaper it was firmly against an anc led coalition that included what it called the racist democratic alliance. so i've got to ask you, do you think these differences can be can be overcome? and how important is that for south africa's economy? well, i think it's always boils down to choices. now, everybody has a particular perspective in south africa, and the trade unions in particular do not like the da's economic policy because we believe it's necessary to reign back the public sector wage bill. we need to rein back the strength of the trade unions in our economy.

if economy doesn't grow, you don't have tax revenue and you're unable to deliver services. i have lots of discussions with the minister of finance and we both agree we have a growth problem. the anc does not believe that it has a spending problem, which it does do. so the choices need to be made because if we don't do that, what's going to happen is what you said. we'd end up with the bailout. we'll end up with an economy that doesn't grow. and of course, heaven forbid we might end up with violence that nobody wants. you can see more you can see more of you can see more of that interview and find out about the struggles of south africa's economy. it's available this weekend here on bbc news. elon musk space x rocket has made its first successful test flight at three attempts and failure. the 65 minute flight wasn't without drama as an onboard camera showed many tiles peeled off before the start of the splashdown in the

indian ocean. before we go a reminder of our top story at this hour. british tech tycoon mike lynch has been cleared of fraud charges he faced in the united states without the charges relate to the $11 billion sale of a software firm to hewlett—packard in 2011. we will have more for you in a moment sportsday is coming your way next. bye—bye.

hello and welcome to sportsday — i'm gavin ramjaun. super states — the usa make it two wins out of two at cricket's t20 world cup, with a stunning super—over victory against pakistan. world number one iga swiatek will aim for a third consecutive french open title — when she plays italy's jasmine paolini on saturday. and missing the cut — grealish, maddison and maguire are among seven players left out of england's final euro 2024 squad.

hello there and welcome along to the programme. we're only a few days into the t20 cricket world cup — but we could be looking at one of the shocks of the tournament. after the co—hosts, the usa stunned pakistan — after the match went to a dramatic super over. the hosts set the tone from the off, steven taylor taking this superb catch as they restricted pakistan to 159 for 7 in their innings and the chase went all the way to the final ball, nitish kumar hitting a boundary to take the game to the super over, much to pakistan's frustration. and the usa went onto successfully defend 18, to win their second game of the tournament and spark wild celebrations in dallas. we are not playing good in all department. we are better than that in the bowling. we are not in 66 overs, you know, taking wickets in the middle of us.