—— which sent shares up by over 3%. with the latest from new york, here's the bbc�*s north america business correspondent michelle fleury. no amount of special sauce can make higher prices more palatable, as mcdonald's has found out. sales sputtered, consumers around the world, shying away from the higher cost of burgers, fries and soft drinks. even the ceo admitted it was too expensive. beginning last ear, it was too expensive. beginning last year. we — it was too expensive. beginning last year, we warmed _ it was too expensive. beginning last year, we warmed of - it was too expensive. beginning last year, we warmed of a - last year, we warmed of a more terminating consumer, particularly among lower income households. as this your progress, those pressures have deepened households. as this your progress, those pressures have deepened and households. as this your progress, those pressures have deepened and broadened. households. as this your progress, those pressures have deepened and broadened. fin households. as this your progress, those pressures have deepened and broadened. fin a deepened and broadened. on a call, mcdonald _ deepened and broadened. on a call, mcdonald said _ deepened and broadened. on a call, mcdonald said food, labour and paper costs had risen by as much as a0%, forcing it to raise prices. one analyst noted price hikes were higher than its rivals.

the pricing increases have been faster_ the pricing increases have been faster than the rest of the industry. consumers are savvy, they're — industry. consumers are savvy, they're aware of that. that cat needs to narrow after having the one. _ needs to narrow after having the one, two menu. kind of disappean _ the one, two menu. kind of disappear. "— the one, two menu. kind of disappear. —— that gap. price certainty— disappear. —— that gap. price certainty matters a lot. the fast food — certainty matters a lot. the fast food giant _ certainty matters a lot. the fast food giant is _ certainty matters a lot. tie: fast food giant is working certainty matters a lot. tte: fast food giant is working on fixes like extending the $5 meal deal into august at some us restaurants. that sent the share price higher. more and more restaurants from mcdonald's to taco bell are launching value me with over budget consumers —— value meals. in tech news, apple has released a preview of its first version of apple intelligence, its brand new iphone software. some features include automatically generated emails, images and improvements to voice—assistant siri. but for iphone users, you may have to wait a while for the upgrade. apple intelligence is reportedly not going to be released with the new iphone this fall, but later in the year instead.

in other news, us secretary of state antony blinken rachel reeves announced... she told parliament this was because of a shortfall in funds that are government and she said the code preservative in and ministrations and overspent by over $28 billion. the in an angry response, her predecessor accused her of laying the ground for tax rises that she didn't have the courage to announce for the recent election. in other news, us secretary of state antony blinken is on a tour of asia, and is currently injapan. leaders in the region are keen get insights into the economic and trade policies of kamala harris ahead of the november presidential election. a reset of us ties in the region under the biden administration could be up—ended by a return of donald trump to the white house under proposals for new tariffs and calls for a weaker dollar. for more, we'rejoined in singapore by deborah elms,

head of trade policy at the global trade advocate. despite that, deborah elms said she doesn't trade is everything. economics usually— trade is everything. economics usually trumps security and most — usually trumps security and most of _ usually trumps security and most of asia, sol usually trumps security and most of asia, so i think his counterparts will be asking a lot of— counterparts will be asking a lot of questions about trade economic policy for the next six months on under the biden administration. what happens after— administration. what happens after that if, harrison's up as president _ after that if, harrison's up as president-— after that if, harrison's up as resident. ., ., ., president. how important would ou sa it president. how important would you say it would _ president. how important would you say it would be _ president. how important would you say it would be for - president. how important would you say it would be for biden - you say it would be for biden administration to ensure some measures are in place before those elections in case the verdict goes in favour of the republicans?— verdict goes in favour of the republicans? verdict goes in favour of the reublicans? ., ., ., ., republicans? there are a lot of reaions republicans? there are a lot of regions that — republicans? there are a lot of regions that are _ republicans? there are a lot of regions that are thinking - republicans? there are a lot of regions that are thinking of - regions that are thinking of what — regions that are thinking of what happens if donald trump becomes president again and they're — becomes president again and they're trying to trump proof if possible certain parts of the — if possible certain parts of the relationship with the us if they— the relationship with the us if they like _ the relationship with the us if

they like and prepare for parts of a trumpet administration that— of a trumpet administration that they might like better. i think— that they might like better. i think they're trying to create the hest— think they're trying to create the best possible conditions for how— the best possible conditions for now and into the future. how— for now and into the future. how important will it be for kamala harris to outline these policies and what should those priority areas be in your opinion? i priority areas be in your opinion?— priority areas be in your opinion? priority areas be in your oinion? ~' opinion? i think her goal will be not to _ opinion? i think her goal will be not to talk _ opinion? i think her goal will be not to talk about - opinion? i think her goal will be not to talk about trade i opinion? i think her goal will. be not to talk about trade and economics at all from now until november, because this is not awaiting — november, because this is not awaiting saturday generally —— awaiting saturday generally —— a winning _ awaiting saturday generally —— a winning strategy. that's not something that american voters are keen — something that american voters are keen on at the moment. the rest _ are keen on at the moment. the rest of— are keen on at the moment. the rest of the — are keen on at the moment. the rest of the region is deeply interested in what kind of policies _ interested in what kind of policies might she have. i think— policies might she have. i think that's going to be an interesting question that's going _ interesting question that's going to come up again and again—

going to come up again and again from now through the election _ again from now through the election. if again from now through the election. . ~ again from now through the election. ., ~ ., election. if we talk a little bit about _ election. if we talk a little bit about of _ election. if we talk a little bit about of former - election. if we talk a little i bit about of former president donald trump, sing the us cannot allow china to dominate, how are asian nations reviewing the possible presidency. ? i think they're fairly relaxed, and — think they're fairly relaxed, and i— think they're fairly relaxed, and i think a lot of them think they— and i think a lot of them think they came through trump 1480. for many— they came through trump 1480. for many countries, it was a benefit _ for many countries, it was a benefit for— for many countries, it was a benefit for them —— 1.0. for many countries, it was a benefit forthem —— 1.0. it meant— benefit forthem —— 1.0. it meant that firm switch up their sunpty— meant that firm switch up their supply chains, and i think for a lot— supply chains, and i think for a lot of— supply chains, and i think for a lot of governments in the region. _ a lot of governments in the region, they will say trump to point — region, they will say trump to point no, _ region, they will say trump to point no, how much worse can it be -- _ point no, how much worse can it be -- trump _ point no, how much worse can it be —— trump 2.0. when you create — be —— trump 2.0. when you create chaos, you have opportunities, and i think many governments in asia will say it's not— governments in asia will say it's not our election, we have no choice _ it's not our election, we have no choice over what takes place. _ no choice over what takes place, we just have to prepare for two — place, we just have to prepare for two different outcomes and

see what — for two different outcomes and see what happens.— see what happens. some have asked for— see what happens. some have asked for possible _ see what happens. some have asked for possible resetting i see what happens. some have asked for possible resetting of ties. that was something that anthony starr mucci told us last week on the programme. what would your opinion be in terms of magic, bouncing ties with china —— balancing? i don't think you can have the two — don't think you can have the two largest economies at loggerheads with one another. i don't _ loggerheads with one another. i don't think you can say is the us is— don't think you can say is the us is increasingly saying that the other side is the enemy. i think— the other side is the enemy. i think this _ the other side is the enemy. i think this is a problem because at the — think this is a problem because at the end _ think this is a problem because at the end of the day, we live on the — at the end of the day, we live on the same planet and you have to at— on the same planet and you have to at least — on the same planet and you have to at least try to get along. the — to at least try to get along. the deepening tensions between these _ the deepening tensions between these two major powers is the real issue _ these two major powers is the real issue an obstacle for you to try— real issue an obstacle for you to try to— real issue an obstacle for you to try to negotiate that balance of some sort. china's taste for coffee continues to gain ground since it first accelerated following the end of covid lockdowns. the ability to go out

and meet friends has seen an explosion of so—called cafe culture. but that has also led to fierce competition, as our china correspondent stephen mcdonell finds out. one of the most famous places in the for tea has taken a coffee in a big way. this means major chains, but in shanghai, it's different. there's been an explosion of small specialist cafes. the government here says there are over 8000 cafes in this city. in this street, over a stretch ofjust100 metres or couple of hundred — 18 cafes. everyone of them has lots of customers. translation: school students are bein: translation: school students

are being influenced _ translation: school students are being influenced by - translation: school students are being influenced by their. are being influenced by their parents and drinking coffee. some grannies send their kids to school and pop in for a copy. to school and pop in for a co . ., ., , to school and pop in for a co. ., ,, to school and pop in for a co. ., ., ,~ , copy. how many cups a people drinking? — copy. how many cups a people drinking? translation: - copy. how many cups a people - drinking? translation: shanghai has lona drinking? translation: shanghai has long been _ drinking? translation: shanghai has long been an _ drinking? translation: shanghai has long been an international- has long been an international trading — has long been an international trading centre. we started drinking coffee a long time aga — drinking coffee a long time ago. smaller cities were also gradually getting different types of cafes.— gradually getting different types of cafes. gradually getting different es of cafes. .., , types of cafes. some cafes here hire peeple _ types of cafes. some cafes here hire people with disabilities. - hire people with disabilities. this one, with visually impaired staff, have it's a unique way of handling coffees. you order your past the coffee through the window. —— you order here and pass. there it is. laughter yet, with this many outlets, competition is fierce. what advice would your friend who is considering opening a cafe here? translation: don't do it!

the return is _ here? translation: don't do it! the return is also. _ here? translation: don't do it! the return is also. you _ here? translation: don't do it! the return is also. you need - here? translation: don't do it! the return is also. you need to i the return is also. you need to buy very— the return is also. you need to buy very expensive _ the return is also. you need to buy very expensive machines. i the return is also. you need to. buy very expensive machines. —— return— buy very expensive machines. —— return is— buy very expensive machines. —— return is awfut _ buy very expensive machines. —— return is awful. you _ buy very expensive machines. —— return is awful. you were - buy very expensive machines. —— return is awful. you were very. return is awful. you were very small— return is awful. you were very small amounts _ return is awful. you were very small amounts of— return is awful. you were very small amounts of money- return is awful. you were very- small amounts of money compared to other— small amounts of money compared to other industries. _ small amounts of money compared to other industries.— to other industries. spent all this money _ to other industries. spent all this money on _ to other industries. spent all this money on rent, - to other industries. spent all this money on rent, what - to other industries. spent all| this money on rent, what are you going to do with it at night? one solution — turn it into a bar. with concern about the economy, will customers keep spending? translation: i’m keep spending? translation: i'm ruite keep spending? translation: i“n quite optimistic. i hope the chinese economy will quickly returned to pre—pandemic levels. returned to pre-pandemic levels. , ., returned to pre-pandemic levels. , levels. the government says it wants are _ levels. the government says it wants are of — levels. the government says it wants are of the _ levels. the government says it wants are of the recovery - levels. the government says it wants are of the recovery led l wants are of the recovery led by consumption. maybe it is a step in the right direction. steve mcdonnell, bbc news, shanghai. investors have a big week ahead with the release of some of the

us major technology firms, also looking ahead to the us fed's meeting for clues on that interest rate. that's all for now, stay for bbc news. —— stay with.

hey, i'm lola with the catch up. first to the olympics in paris, where it's been a great day for team gb. they've won the first two gold medals in the eventing and mountain biking. there were silvers for matt richards in the swimming, adam burgess in canoeing and tom daley in the men's ten—metre synchro diving alongside noah williams. that's daley�*s fifth olympic medal. to be here in paris, diving in front of my son, who's just right there, i'd say, who actually asked me to come back, it's just so special. and yeah, it completes the set. i now have one of every colour. some other stories now.

former bbc news presenter huw edwards has been charged with three counts of making indecent images of children. the offences are alleged to have taken place between 2020 and 2022. the metropolitan police say they relate to 37 images shared on a whatsapp chat. he's due to appear in court on wednesday. next, an update on those junior doctor strikes, which led to loads of cancelled appointments. junior doctors have been offered a 22% pay rise. their union will now put the offer to its members if they accept, it will mean an end to the strikes, which started in march last year. and it's not time to say bye, bye, bye to the marvel cinematic universe. deadpool and wolverine have just had the biggest opening weekend of the year in the us. robert downeer is also set to return to the mcu as doctor doom, a prominent villain. time now for ten seconds of fandom. over the weekend, 40,000 swifties gathered on a hill outside taylor swift's concert in munich to catch a glimpse

of her eras tour. that's in addition to the 74,000 inside the stadium. legendary stuff. you're all caught up now. have a great night. hello and welcome to sportsday — i'm hugh ferris. our top stories. two teenagers light up the paris pool, with david popovic winning the closest fought race of the night. the bar and gold slips from china's grasp as japan continue their historic dominance of men's team gymnastics. and has rafa nadal played the final singles match of his career? if so, defeat in meeting number 60 with novak djokovic is a notable way to go out.

hello again. there were a couple of thrilling finishes to two key races in the olympic pool on monday. the women's 200 metres freestyle provided a shock. the men's edition of the race less so, although it was incredibly close, romanian teenager david popovic won byjust two—hundredths of a second, adding olympic gold to his world title from 2022. popovic was only third at the halfway stage, but came throughjust at the end to pip matt richards of britain, who claimed the silver from lane one. less than a tenth of a second separated all the medal—winners, with america's luke hobson taking the bronze. i felt really good, felt strong. i thought i maybe might have got it, but obviously didn't know because i was bringing the other way. turned around and saw the second above

my name, which is fantastic