in a televised briefing, presidentjoe biden has promised a swift and thorough independent investigation into the assassination attempt. there is no place in america for this kind of violence, or any violence for that matter. an assassination attempt is contrary to everything we stand for as a nation, everything. presidentjoe biden is expected address the nation from the oval office at the top of the hour — 8pm eastern time. we'll bring that to you live as soon as it gets under way. in the meantime, for more updates on the attempted assassination of donald trump, do log onto our live page at bbc dotcom. the second quarter earnings season is kicking off in the us — with the major banks reporting first. jp morgan, wells fargo and citigroup all reported on friday and there is more to come this week. goldman goldman sachs will release their second—quarter earnings on monday — with revenues forecast to rise over 15% year—on—year.

on tuesday — we'll hear from bank of america. first first quarter profits fell 18% due to rising expenses caused by high rates. also on tuesday — investment banking giant morgan stanley will release their financial report card — with revenues expected to rise. for a closer look at the us banking sector, — let's speak with cyrus darawala from idc financial insights. thank you forjoining me today. let's get your take on what to expect from the latest earnings from us banks when they are released. from us banks when they are released-— released. sure. good to be back. released. sure. good to be back- the _ released. sure. good to be back. the majority - released. sure. good to be back. the majority of - released. sure. good to be l back. the majority of reports so far have been lackluster, and reason for that, though the banks have posted slightly better than expected profit, some half of them, half of them not, it is the longer term view that concerns us. as of right

now, dave enjoyed what we used to call the higher for longer interest rates in the net interest rates in the net interest margin, and a benefit tremendously because of that. what that is going to come to a stop in august and september, as you know. so, will discontinue on to 03 and 04? we don't think so, which is one of the reasons why the earnings—per—share been ok for the first half. i don't think that will continue in the second half, and close the near next year on a high note. you sound somewhat _ next year on a high note. you sound somewhat pessimistic there about the rest of the year, but all 31 thanks, use banks that underwent the annual stress test from the fed past, is that not good news going forward? ., �* , forward? you're right, 'ust in march, forward? you're right, 'ust in march. wiufi forward? you're right, 'ust in march, will resort h forward? you're right, 'ust in march, will resort to h forward? you're right, just in march, will resort to the - forward? you're right, just in | march, will resort to the fed, they gave us almost about 30 banks in the us, specifically to the us, and of course the

top four, jp, citibank chase, and goldman merrill, all of them pass the tests successfully, but again, there is a bit of what you would call wait and watch, and that wait and watch comes from what is going to happen their commercial property lending portfolio? you know his plans —— san francisco has taken a beating, so the west coast lenders, predominantly gp and wells fargo, they would take a bit of a beating. the they have a huge investment crunch, sure? but they are not or if this stress test is done take into account the defaults of the nonperforming loans that would take in in 02 and 03 when people can't pay their mortgages. so that needs to be factored in as well, so good

stress test results right now but let us see what happens when they close the books and go after receivables and payables in the next quarter. what does an expected interest rate cut mean for the major us banks? i rate cut mean for the ma'or us banks? ~ ,.,, ., , banks? i think depositors will be dissuaded. _ banks? i think depositors will be dissuaded. as _ banks? i think depositors will be dissuaded. as of- banks? i think depositors will be dissuaded. as of right - banks? i think depositors willl be dissuaded. as of right now, banks have, kind of had a great run, large deposits, and some in the net interest margins, really well, most of the bunk of the prophets come from. so you are parent —— paying a smaller return on your interest, but you are getting a much bigger return on your deposits from various people. that spread comes down, and institutions as well as individuals like you and i, are going to look at other alternatives, it may be snp, may be indicative indexes and funds. so the outflow of

capital results ins smaller deposits, what would banks do to fill in that gap? net interest margin is almost 30% of their profit. mergers and acquisitions, that continues investment banking and social. so it begs the question, when net interest margin squeeze, what do you do to cover up that shortfall? and answer, are going to look for alternative revenues which they don't have in the pipeline. that seems to be the concern.— in the pipeline. that seems to be the concern. cyrus darawala, thank you _ be the concern. cyrus darawala, thank you for— be the concern. cyrus darawala, thank you for your _ be the concern. cyrus darawala, thank you for your time, - be the concern. cyrus darawala, thank you for your time, we - thank you for your time, we appreciate your thoughts. in tech news — alphabet is reportedly close to a deal to buy wiz, a cybersecurity startup. according to the wall street journal, a deal would be worth $23 billion. wiz offers cybersecurity for cloud computing and if the deal goes through, would mark alphabet�*s biggest acquisition so far. a large political gathering being held in the chinese capital this week could potentially be used to usher in some type of policy shift for asia's economic giant.

the third plenum has in decades gone by, been a forum to announce that the country would be switching towards a more market—led approach following the disastrous cultural revolution or that presidential term limits would be abolished, to allow xijinping to remain in office for as long as he likes. this time round, with the economy faltering, chinese citizens are waiting to see what their government has planned to make the lives of ordinary people better with analysts warning that there are no easy solutions. the bbc�*s china correspondent stephen mcdonell reports from beijing. there has been considerable speculation that this week's big political meeting here in beijing will involve some sort of major announcements around the lines of what plans the government has to turn around the chinese economy. and the reason for this is precedent. the central committee, the full central committee, with its hundreds of delegates over a five year term, meets roughly seven times. the third of these meetings, known as the

third plenum, has often involved major announcements of significant changes to policy, and the thinking is this time round, it could be the same because the word modernisation was included in the blurb introducing the meeting. it's thought that we could see an even greater push from the central government to drive funds into the high tech industries, which are really taking off here, like solar power, like electric vehicles. but the question is, even if this was to work, would a newly modernised chinese economy necessarily employ enough people, give wages enough of a boost to drive up household consumption, and that's what's needed to have a significant change in the economy here. the meeting itself, though, it, you know, by and large, were just rubber stamp decisions already made by the senior leadership of the communist party.

it takes place over four days behind closed doors. and so we won't know until thursday night at the end when they give us an official readout if there is to be some sort of significant change in economic policy or in china's political system. industry expertjason hsu laid out what he thinks will be key priorities at this year's plenum meeting. i think the first thing everyone is aware of is of course addressing the property market. beijing will take the stance which is the government will ensure everyone was what is going to be me hold. meaning that projects will be transferred to the developers or solvent and collaborating with the government, so you will be made whole and take the race, so there ensuring people they were not lose out. they will ensure that the will not

be —— there will be sufficient clarity for complaint developers to continue to operate their business. so it there would not be a crisis triggered by lack of clarity that cost regarding systemic bankruptcy. beyond that, the narrative is not hoping that the real estate can be a key economic driver going forward as it has been the last 20 years. it is still about you shouldn't speculate in the real estate market, and it is more healthy for that capital to move toward something that is much more productive, a strategic area. which takes us from the real estate topic, which is about containing a crisis to something else. which is progrowth. progrowth in the strategic areas which is outlined over and over again. it would be semi—conduct yourself self—sufficiency, forming so self sufficiency which does not get talked about

as much, but beijing has realized they need to be semiconductor self—sufficient. jason hsu speaking there. that is it for this edition of business today, see you soon thank you

stop n tollet. hello and welcome to sportsday — i'm tulsen tollet. here's waht�*s coming up... spain are european champions

for a record fourth time as they score late to beat england 2—1 in berlin while despitejordan pickford's best efforts england's agonising wait for a major title goes on, 58 years and counting since the men last triumphed and spain made it a double on the day as carlos alcaraz made it consecutive wimbledon titles beating novak djokovic at the all england club thanks very much forjoining us as spain are crowned european champions for a record fourth time. their 2—1 win over england in the euro 2024 final in berlin made it seven wins out of seven at this tournament and catapulted some of their players into superstardom. for england it was a second successive loss in the final and our sports editor dan roan looks back on what might have been.

this was uncharted territory for england. never before had its men's team contested a major final on foreign soil. now for those fortunate enough to be in berlin, a chance to witness history. they've got to bring it home now. ijust can't believe we are here in berlin. it's written in the stars. we rode our luck— throughout the tournament. it's happening, i it's coming home. here in a venue of epic proportions, greatness beckoned. in what could be his final game in charge, the manager and his players arrived for a date with destiny. england! could they be the ones to secure a first major title since that iconic daily, 58 years ago, in this, the game of their lives? standing between them and glory, the team of the tournament so far. in a first half that lacked any rhythm, phil foden�*s effort on the stretch was england's only shot on target.

spain's young wingers have taken these euros by storm and straight after the restart they combined to devastating effect. it's going to go over to williams now! lamine yamalfinding nico williams, who finished with aplomb. a stunned england would have to come from behind for the fourth match in a row. but as he has done so often here, gareth southgate made changes. captain harry kane off, for the semifinal hero, ollie watkins. the competition's youngest scorer, yamal, teenager, going close to extending the lead. but resilience has been a theme of england's campaign and so it proved once again. oh, yes! ice cold precision from palmer. substitute cole palmer has made an impact from the bench throughout the tournament. never quite like this. but spain are the euros's top scorers and with extra time looming, oyarzabal broke english hearts.

and not long left for england to do anything about this one.