will start with this. nvidia has now handed back the title of most valuable company to microsoft, after its shares fell over 3% on thursday. despite that, the artificial intelligence chip—making powerhouse has seen a remarkable rise in recent yea rs. the bbc�*s north america business correspondent erin delmore takes a look atjust how big the ai giant has become. it's hard to talk about the us stock market gains or the artificial intelligence boom without talking about nvidia. the ai chip giant was named to the king of wall street earlier this week when it jostled its way into the number one spot for most valuable company. to put its whopping market capitalisation in the context, get a load of this — nvidia alone tops the entire stock market value of germany.

it also tops the stock market value of france, those are some of the world's largest economies. deutsche bank research crunch to the data. nvidia has enjoyed a meteoric rise, adding a full $1 trillion in market cap injust about a month this spring. the firm has been capitalising on the fever around artificial intelligence. the chips made by the company are used to power the ai applications that are in use and in development now — and companies are betting they'll be instrumental in the future. shares of nvidia are up around 170% this year. in other news now chinese car companies are called on the government to hit european union rivals with import taxes of up to 25% if the trading bloc imposes tariffs on vehicles from china. that is the country's state media — according to the state millionaire. there. that amount was reportedly made a closed—door meeting made at the chinese industry of commerce which was attended by representatives of european car

firms. the measures would target guards from the european union with large petrol visit —— driven engines. this comes after european union certain chinese ev makers with tariffs from 4 chinese ev makers with tariffs from ajuly. another week of negative headlines for boeing as the outgoing boss, steve culleton, faced lawmakers on capitol hill. he acknowledged the gravity of the issues and said he was making progress. aaron heslehurst spoke to the boss of the international air transport association, willie walsh, to find out if the industry still has confidence industry still has confidence in boeing. i industry still has confidence in boeing-— in boeing. i think they are concerned _ in boeing. i think they are concerned given _ in boeing. i think they are concerned given the - in boeing. i think they are - concerned given the problems we face and the speed at which progress is being made, they are cautious about the future, we want to see greater certainty around what boeing will do i am confident they will do i am confident they will address it, isaac liu determination on their part to

put behind them all of these issues. they think they know what these problems are and solving the problems will require some work, but is not impossible do, just requires the right focus, right attitude, right culture and i think boeing is on the rise journey at the moment, but what we need, as an industry, is to see a strong boeing. we will work with them to get them to where they need to be because we can't have an industry that is almost totally dependent on one manufacturer, we need competition and boeing will play a critical part in the future. it play a critical part in the future. . , , . play a critical part in the future. , ., ., ., future. it has been a lot of talk post _ future. it has been a lot of talk post pandemic - future. it has been a lot of talk post pandemic about. future. it has been a lot of i talk post pandemic about the higher fs, are these efforts now the new norm? are you and others say the airlines have to find the screen a transition somehow. if find the screen a transition somehow— find the screen a transition somehow. if you look at the profitability _ somehow. if you look at the profitability we _ somehow. if you look at the profitability we are - profitability we are forecasting for the industry this year, and modern terms, and i think it is important to look at in terms of net margin, we are forecasting just over 3%, 3.1%, so a very thin margin foran

3%, 3.1%, so a very thin margin for an industry that is as important as aviation. and if you consider the long—term out in the transition to net zero we know that sustainable aviation fuel is very expensive compared to traditional fuel, can be anything up to six times the price. and that's going to have to be paid somebody. given the margins that industry traditionally operates with, don't think there is any way you can avoid the reality of high affairs. i think this's where politicians need to be honest. i think some people have tried to betray that it is not going to cost us anything to transition to net zero, it will cost more and ultimately consumers will have to pay more. ., u, consumers will have to pay more. ., ., ., more. you can find out more with above — more. you can find out more with above aviation - more. you can find out more with above aviation special i with above aviation special with above aviation special with aaron heslehurst on talking business this weekend on bbc news. over 70 million people in the us are under heat alerts this week, with extreme temperatures as high as 41 celsius forecast in some areas. scientists say many extreme weather events are becoming more frequent and intense as a result of climate change —

and it's coming at a cost not just to human lives, but also to businesses. i have been speaking with professor ilan noy, who suggests that climate change could be costing the world around $16 million per hour. we are just quantifying the cost of climate change through extreme weather events, and we are quantifying by how much the increasing frequency of weather events that we have more of, therefore we quantify how much these additional extreme weather events like we had this week, so the figure you quoted is an underestimate for the full costs of climate change. this is just for the extreme weather events because they are becoming more frequent. and would you say smaller businesses are more affected than larger ones? and which sectors would you say are most prone?

definitely smaller businesses are less able to adapt to the changing circumstances. the weather is changing and we see that the climate is changing. bigger businesses have more resources that they can tap into when they need to adapt to those changing circumstances. the heatwave is a good example — wealthier businesses could for example install air conditioning, could find a replacement for workers who are staying home because of the heat, and so forth, so they can adapt better. but they are still paying a price — they need to adapt so the cost of adaptation is there, and also some of the things you can't. some people will become sick because of the heat, and you lose labour because of that. so those things, we are not able — big businesses, small businesses — small businesses are much more exposed to.

and what needs to be done, and are you seeing steps being taken and that? firstly, we need to stop climate change, so we need to solve the climate from continuing to change, meaning we need to reduce greenhouse gas emissions. by the more obvious one is we need to adapt to the changing circumstances we are facing right now — and that involves a significant investment in adaptation. in all countries, specifically in those low income countries and small businesses, and so forth, those entities that cannot afford, we need to assist them because otherwise, we will see just more and more economic damages from these events. let's turn our attention to india — where the country's start—up ecosystem has been suffering a long funding chill. but things could be now turning a corner. the bbc�*s india business

correspondent nikhil inamdar has more in this report from mumbai. india's tally of textile values at over $1 billion stands at 67 this year — that's one lesser compared to last year as tech giants dropped off the billionaires club. the future index unicorn... a number of companies expected to hit the $1 billion milestone also were stopped in their track because of the post funding squeeze after covid. but things are looking much better now for india's start usp. international funding is still slow, but that has been replaced by a lot of interest that comes from and the lack of domestic investors, including chennai and individuals and family officers. they are looking to make investments and start up ecosystems. now india is expected to birth at least some 150 new unicorns

over the next five years, across a wide range of sectors, from fintech to e—commerce, even new areas such as artificial intelligence and space technologies. and at least 20 of these soon to be unicorns have been founded by women, with some ten of them by people who are under the age of 30. now these new companies already employ some 150,000 people and saw their revenues jumped some 70% last year to a cumulative $6 billion plus, marking a major contribution to india's fast—growing economy. nikhil inamdar, bbc news, mumbai. a few quick updates before we go. apple will open its first—ever retail in malaysia on saturday, located at the heart of the capital city, kuala lumpur, this will give locals direct access to apple products and their services. malaysia is currently the third country in southeast asia besides singapore and thailand to have a physical store. us technology giants have been pumping in cash in malaysia

with multibillion—dollar investments from google and microsoft in the recent months. the uk's central bank has kept the cost of borrowing rates steady at a 16 year high at 525%. the bank of england's move was widely expected despite the fact that inflation in the uk has now hit 2%, which was the bank of england's target, the attentions of the policy meeting in august where analysts are increasingly pressing in an interest rate cut. —— 525%. that is all we have in this edition of business today. thanks for watching.

hello, and welcome to sportsday with me, gavin ramjaun. gareth southgate says his england side need to find

another level, after their disappointing draw with denmark in the euros. spain secure their spot in the last 16 by beating defending champions italy in gelsenkirchen. and india demonstrate their title credentials, as they beat afghanistan at the t20 world cup in barbados. hello there, and welcome along to the programme. england missed the chance to secure the spot in the euro 2024 knockouts as group winners earlier, after a frustrating and disappointing draw with denmark. the match in frankfurt failed to provide any spark — and after taking the lead, gareth southgate's side again failed to impress, leaving the door open for others in the final group games. andy swiss reports.

hoping to make a splash. england fans soaking up the atmosphere in frankfurt, as thousands descended on the city's main square before heading for the stadium and, they hoped, another victory. after their narrow opening win over serbia, england were up against denmark and the anticipation was deafening. god save the king sung by the watching prince of wales. could england keep their cool? they struggled to keep their feet at first — kyle walker among a host of players sliding around, but soon it was denmark's turn to slip up and midway through the first half, england pounced. and a good chance for kane! a case of captain fantastic, as harry kane sparked euphoria amongst his team—mates and every england fan. could they now kick on? well, not so, as denmark

hit back, and how. that's a good effort, it's a wonderful strike!