and boeing ceo david calhoun gears up for a grilling on capitol hill, amid a slew of issues at the plane—maker. hello and welcome to business today. i'm arunoday mukharji. we start injapan, where toyota's annual meeting begins in an hour. shareholder support will be closely watched. although akio toyoda will likely be re—elected as chairman, any fall in support for him could drive change in the company. it was recently at the centre of an industry scandal, where it admitted to providing incorrect or manipulated data for safety certification tests. i spoke to neil newman from astris advisory japan about his outlook for the world's top car—maker. typically, this time of year, via shareholder meetings peak and it is usually an occasion to hear good things from a

company and basically to please shareholders going ahead, but of course with toyota they will be on the defensive, particularly because of the so—called scandal involving not just toyota but toyota, honda, mazda, suzuki, yamaha motor, whole number of companies there. so imagine this will be there. so imagine this will be the main topic of the meeting. there may be some questions about keeping costs under control, the effect of the weekend, perhaps the decline in demand for electric vehicles, but really they are going to be tackling this problem head on. ijust tackling this problem head on. i just wanted to say on that point how do you feel that controversy is likely to impact the company, short and long term. i the company, short and long term. ~' , ., term. i think the short term, we can't _ term. i think the short term, we can't deny _ term. i think the short term, we can't deny the _ term. i think the short term, we can't deny the news - term. i think the short term, we can't deny the news of i term. i think the short term, i we can't deny the news of what has happened here, but i think it needs to be put into context. we don't actually have any cheating going on here. is really somewhere between the bureaucratic way the japanese test cars, and actually being driven by one of the ministries, excuse the pun, and the way the press reported this. so what we're talking about here is actuallyjust the difference in a way between the

way the domestic cars are tested, because injapan domestic cars are generally very small, and the way that global models are tested, which are much larger, and to give an example of the problems they had, the domestic cars injapan are supposed to in the crash test be tested with a 1.1 tower. they used a 1.8 tonne car with the global standards and of course that is a violation of the rules. so even though it has been over tested, if you like it is still a violation of the rules. that was reported in the press and it has turned into a scandal. moving on from that, if we talk evs injapan, why has demar not really taken evs injapan, why has demar not really ta ken off evs injapan, why has demar not really taken off in the country and what needs to be done, in your opinion? to and what needs to be done, in your opinion?— your opinion? to be honest there's just _ your opinion? to be honest there'sjust not _ your opinion? to be honest there'sjust not enough - there's just not enough electricity. after the fukushima disaster electricity. after the fu kushima disaster and electricity. after the fukushima disaster and the fu kushima disaster and the closing fukushima disaster and the closing of the nuclear power plants, electricity has been very tight on the supply side, and in the peaks of the summer and in the peaks of the summer and the winter there is only something like a 3% margin of access electricity so it is

just too tight. prices have also gone up quite sharply as a result, and with the weak yen and just about the fact that all energy is reported cost of staying very high, so just isn't practical to have an ev injapan at the moment and that is why hybrids are much more popular. china has launched an investigation into pork products from the european union, in what appears to be a tit—for—tat action. last week, the eu decided to impose tariffs of up to 40% on chinese electric vehicles. the investigation into eu pork could result in beijing imposing its own tariffs. it imported about $3 billion worth of pork products from the eu last year, with spain accounting for half that total. boeing is back in the spotlight, as outgoing ceo david calhoun gets ready for another appearance on capitol hill. our north america business correspondent erin delmore has more on what to expect from his testimony on tuesday. in tuesday's hearing in front of a senate subcommittee, mr

calhoun expects to speak directly to the family of the people killed. he will also express regret about a january incident that led to a door panel blow out mid flight aboard a 7117 max nine aircraft. as well as gratitude there were no fatalities. mr calhoun had served as president and ceo of boeing since january 2020. he plans to tell senators he understands the gravity of boeing's responsibility to uphold aerospace safety and that the company will take action to ensure its safety standards are met and will hold itself accountable. but he will be asked to answer for the company's failures, including criticism that the company put profit over safety. a recent meeting between boeing executives and the united states chief aviation watchdog endedin states chief aviation watchdog ended in a plan for systemic change, and no plans from the watchdog to allow boeing to

increase production of its 737 max jets. increase production of its 737 maxjets. it comes amid a trying chapterfor the trying chapter for the aerospace giant and the end of aerospace giant and the end of a chapterfor mr calhoun a chapter for mr calhoun himself. he a chapterfor mr calhoun himself. he has announced he will be stepping down later this year and the search for his successor is under way. boeing has in recent months shaken up its senior leadership team, and the firm's shares have fallen around 30% year—to—date. the us federal trade commission is suing adobe and two of its senior executives for allegedly deceiving consumers by hiding hefty termination fees, making it difficult for them to cancel their subscriptions. according to the lawsuit, adobe buries the feeds, which can amount to hundreds of dollars, in the fine print of its subscription plans. in a statement, adobe defended their subscribtion service, saying it was cost effective and flexible. they pledged to refute the ftc�*s claims in court. tesla is suing its former battery supplier for allegedly

stealing trade secrets related to its battery manufacturing process and selling it to its rivals. according to court filings the electric car maker is seeking damages worth over $1 billion. matthews international dismissed the claim, saying in a statement they will vigorously defend the matter. sticking with the us — shares of gamestop slid on wall street, down 12%, after the american video game retailer failed to provide updates about the company's future strategy. the stock surged last month, following the return of an investor, known as "roaring kitty". he was credited for 2021's rally in meme stocks, where retail investors drove massive gains in gamestop and other struggling firms, contrary to the bets of many professionals. michele schneider from marketgauge explained why this time round the meme—stock frenzy was a little different. we certainly saw the disappointment for their shareholders when they had sold off about up to 12% of but essentially what is really

historic here is that a meme stock that really had trouble in terms of their business plan being profitable, their last earnings were dismal, raised 4 billion in cash, and so of course it would be a disappointing outcome when they didn't have any kind of clear outline of what they were going to do, now they are flush with cash, and so it is really going to be up to ryan curran to come up to be up to ryan curran to come up with something interesting, or it could be trouble for roaring kitty.— or it could be trouble for roaring kitty. we saw a rally in the stock _ roaring kitty. we saw a rally in the stock of _ roaring kitty. we saw a rally in the stock of game - roaring kitty. we saw a rally in the stock of game stuff i in the stock of game stuff since the return of roaring kitty. is it similar to the one during the pandemic? it kitty. is it similar to the one during the pandemic? it went up to $420 billion _ during the pandemic? it went up to $420 billion before _ during the pandemic? it went up to $420 billion before it - to $420 billion before it hopped out and we couldn't even get to 70, which everyone was looking at, because that was going to make key skills is his name a billionaire, and it —— keith gilles. the difference we have now is in 2021 people were home and everything was rallying after the major

stimulus in zero interest rates. now we have higherfor longer but we have an ai rally, which is acting more like meme stocks than actual meme stocks. what will you be looking out in the days ahead around gamestop? there is a couple of other realty trusts which is not done very well because the real estate market has been so nuanced here in the united states. so perhaps we might get some interest, but i really believe that while we have this tremendous rally going on in the stp -- tremendous rally going on in the stp —— if the tremendous rally going on in the stp -- if the snp tremendous rally going on in the stp —— if the snp and nasdaq, that the retail investors having so much fun they are there really isn't a reason to do the short squeeze, particularly as institutional investors have become keen on the fact that something they have only sure starts experiencing volatility, it is probably time for them to pay attention. so i'm not sure the meme stocks are really going to be the thing right now, unless

maybe we see some kind of downturn and start to see short flow to go up. i downturn and start to see short flow to go up-— flow to go up. i 'ust want to understand _ flow to go up. i just want to understand what _ flow to go up. i just want to understand what we're - flow to go up. i just want to l understand what we're seeing flow to go up. i just want to - understand what we're seeing in the us equity markets, which are trading near record highs. what is driving that momentum? it is all about al. the whole magnificent seven, and even tesla, which is sort of dropped out, had a fairly good move into resistance. it is a market that right now has been so dominated by that that even fed policy has become sort of a back—seat to that. and it is really going to be a matter at this point, it doesn't even necessarily have to rally but if the small caps, transportation, the retail sectors that have been underperforming down at least crash from here, then it does look like we are going to continue to go higher. i would only get bearish if we start to see a real deterioration from further support levels, where we are getting buyers coming in like even today in the small caps and that stops. but at this point right now it is al driven and no one seems to talk. ~ .

talk. michelle schneider talkinu talk. michelle schneider talking to _ talk. michelle schneider talking to me _ talk. michelle schneider talking to me earlier. i before we go, a quick update on this. london has become euro's largest stock market again, almost two years after losing the crown to paris. the total value of companies listed on the london stock exchange hit $3.18 trillion on tuesday, and analysts say the value of the french market has fallen because of uncertainty about the snap election that has been called there. it overtook london in 2022, when the uk's underperformance was based on economic policies, the weak pound and brexit. you can find much more on the bbc news website and you can go on to the business page to get all the business page to get all the very latest. that is it then on this edition of today. thank you very much for watching —— of business today. stay with us on bbc news.

hello and welcome to sportsday, with me, paul scott, here at the bbc sport centre. here is what is coming up. france are up and running at euro 2024, thanks in part, to this unfortunate own—goal. tennis stars, aryna sabalenka and ons jabeur, become the latest players to say they won't be competing at the paris olympics. and bangladesh complete the line—up for the t20 cricket world cup's super 8s, after victory over nepal. hello there. welcome along. let's start at the european football championship. france have made a winning start, after beating austria, 1—0, in dusseldorf in group d. but, as patrick geary reports, they needed a bit of luck along the way.