must controversial. donald trump has must not do that. here's 1 market watch says despite it being lower consumers are still feeling the pressure. consumers are still feeling the ressure. , ., , , pressure. the sentiment really is driven largely — pressure. the sentiment really is driven largely by _ pressure. the sentiment really is driven largely by inflation. - pressure. the sentiment really is driven largely by inflation. the i driven largely by inflation. the level of prices not necessarily the rate of change that we can focus on. the average us consumer, inflation is at 20 plus percent because they are looking at that consecutive, consecutive and that cumulative, that cumulative inflation rate over the last 3 years. so i don't think federal reserve are starting to cut rates in september changes the sentiment that we already have in place joining me now is erin delmore, north america business correspondent. it seems that a lot of investors are pricing in that cat. yeah, investors

are making on mid—september and batters over thei are making on mid—september and batters over the i that concludes the face of what that means today, 7 we don't expect to see any announcement, any decisions, at the end today's meeting but those listening keenly listening in the speech, especially the chair speaking today and take questions, we'll be looking for any claims he might give on the state of the economy and for what could be had before mid—september. this is a balancing act for them, they've been looking at the path of inflation and they've also been looking at the strength of the job market. at the moment like the i we find ourselves in, we see inflation pulling better, we see a slowing job market although it is still strong. that is been kind of environment or because specter cat. kind of environment or because specter cat-— kind of environment or because secter cat. ,., , specter cat. there bowling figures, we know those _ specter cat. there bowling figures, we know those wild _ specter cat. there bowling figures, we know those wild document - we know those wild document documented problems and they tell us that there is a loss of 1.4 billion

just in 2nd quarter.— that there is a loss of 1.4 billion just in 2nd quarter. heavy loss, not wildly surprising, _ just in 2nd quarter. heavy loss, not wildly surprising, given _ just in 2nd quarter. heavy loss, not wildly surprising, given what - just in 2nd quarter. heavy loss, not wildly surprising, given what we - wildly surprising, given what we have seen by boeing over the last quarter and the last year as a whole. of course, it has been a torturous time. now, that announcement of that loss was paired with a new enactment of the next ceo who will be taking over the outgoing ceo and we're seeing a lot of the questions and concerns boeing being answered with this new appointment. somebody who was an engineer by trade and, that helps to come make an adjustment to the criticism that the company has been focused on financials and they were thought to be at the forefront of this consultation. somebody with decades of experience in the field, the former head of1 of boeing's suppliers and they are really hoping that this can do some work to not only restore the dense to also make sure of boeing's safety.—

sure of boeing's safety. thanks so much, sure of boeing's safety. thanks so much. thank _ sure of boeing's safety. thanks so much, thank you _ sure of boeing's safety. thanks so much, thank you for _ sure of boeing's safety. thanks so much, thank you for that - sure of boeing's safety. thanks so much, thank you for that in - microsoft has been given market case of ai anxiety. investors have better trillions of dollars investors have bet trillions of dollars that advances in artificial intelligence will boost company profits. so any update from big tech firms is being scrutinised line—by line. microsoft reported better than expected results overall. but its shares fell sharply on news about azure — its vast cloud computing operation — that's used by many firms microsoft says revenues at azure grew 29 percent in the three months to june but that was less than expected — and a slowdown on the 31 percent growth seen in the previous quarter microsoft is spending a fortune on building ai infrastructure. its capital spending bill for the three months hit 19 billion dollars that's a jump of more than 77 percent on the same time last year. here's the view of one tech watcher.

what i think investors are looking at right now is exactly what kind of return is a company like microsoft, which is one of the biggest in the world getting from all of this ai investment. they've spent about 45 to $50 billion in theirfinancial year on rolling out these big, ambitious ai related projects. they're not getting the kind of return in terms of revenue and ultimate profit that they had first anticipated. now, microsoft says that's going to accelerate into the second half of this year and then beyond. but so is the spending. so right now investors are left asking questions to what degree are we going to see profit materialise as a result of this spending7 and is this spending going to carry on forward into next year and beyond without the kind of return that people are hoping for? so that's a big part of the reason that the stock was trading so weakly after the numbers. but my suspicion is when people look more directly into the details and see the potential of this investment, the stock is going to recover well.

microsoft earnings are very important for the tech sector, particularly this month, because what we have seen is an enormous decline in the value of some of the biggest stocks in the world. and that's ultimately because investors are starting to wonder whether all of this money that companies are spending on al investment is generating a return. in other words, are they monetising it7 there's really no application at the consumer end to define that. in other words, apple is talking about having some ai technologies embedded in the iphone, and other companies are putting it in front facing things such as web browsers and other portions of the computer. but that's not really the killer app that we're looking for in terms of monetising. people were looking at it from microsoft in order to just to justify. they haven't quite seen itjust yet. so i do think that's going to be a drag on some of these other companies and other companies that are reporting quarterly earnings

this week, and that includes apple, but it also includes meta platforms, which is the owner of facebook, whatsapp and instagram, and amazon as well, which is not only an online retailer, but the biggest cloud computing company in the world. and not many people actually know that that's such an important portion of their business model. so we'll get more indication as to how that al spending is going to play out over the coming months, and to what degree it's being monetised over the coming days. but of course, investors have to navigate that alongside all these geopolitical tensions that are now bubbling up in portions around the gulf region. and, of course, two very important interest rate decisions from the bank of england and the federal reserve to be very hectic day on wall street today. to australia now — which is in the grip of a housing crisis. rents have soared and with that, demand for homelessness services are rising too. as many as 122,000 people are now homeless. rents have been rising the fastest

in western australia — 20% in the past year alone — which also happens to be the wealthiest part of the country. our australia correspondent katy watson reports from perth. i don't want to face the humiliation of being termed homeless. it's not exactly home sweet home, but it's all 71—year—old mary's got. mary's not her real name. she's too ashamed about her situation. nine months living in this battered car. the environment. people know that you've become homeless. you've become what i call a non—person. you no longer have any value in people's lives. when mary's landlord evicted her, she couldn't find anywhere else to live that she could afford on her pension. every day now is the same. her love of books offers an escape from her reality. if she's lucky, mary gets a few days of respite care. but there's no guarantee. mary's husband is in a care home with alzheimer's. he doesn't know she's living like this. he'd be horrified. absolutely mortified.

what's the hardest thing about sleeping and living in your car? the loneliness, i think. you know, you've got no tv. you've got no neighbours to say hi to. people often just give you the side eye and think, oh god, not another one and just walk away. older women are the fastest growing group of homeless people in australia. domestic violence also drives numbers up. but there's something else happening. in recent years, soaring house prices have killed many people's dream of getting on the property ladder. underinvestment in social housing and a growing population mean finding somewhere affordable to rent can be a challenge. it's created a new face of homelessness. we're seeing older people, working families, uh, individuals who are working that simply can't afford to keep a roof over their head. a single trigger can push people into homelessness, and there really is very few options

for them and they don't know where to start. we've come to perth because this is where the rents have been rising the fastest but unaffordable housing, struggling just to find a place to live. these are issues that australians are facing across the country. it's a crisis that everyone is talking about. as evening falls in the richest part of australia, these queues for free food are getting longer. every night different charities come down here to help. as winter sets in clothes donations are in high demand. there's also a laundry service, a mobile doctor, surgery and a hairdresser. and a nice meal for you. the street chaplains are working tonight too. giving out food to those sleeping rough. have a meal. just a few months ago, michelle was the one receiving the hand—outs. a registered nurse left with nothing after she got evicted, crashed her car, and her mother started struggling with mental health. i ended up losing myjob. i think it took a while for people to actually realise i was homeless because i didn't look homeless.

gradually, overtime, you become so used to the street that you lose yourself a bit. michelle admits she got lucky, but with no quick solutions to australia's housing crisis, plenty more will be finding themselves in a desperate situation they never expected. katy watson, bbc news in western australia. the u—k's finance minister — chancellor rachel reeves— has admitted they will have to raise taxes in october's budget. she was speaking on the bbc�*s news agents podcast — about her claim on monday that the previous government left a 22 billion pound �*hole' in the public finances. the labour party has pledged not to raise income tax, vat or national insurance — but has not ruled out higher taxes on inheritance, capital gains or pensions. samsung has seen profits rise fifteen-fold in the three months tojune — to 7.5 billion dollars. the south korean tech giant

is forecasting strong demand for its chips in the second half of the year — as firms invest heavily in al. starbucks has seen global sales decline as people struggle with the cost of living. the coffee giant's been announcing deals and offers to try and tempt customers back to its stores. its latest results echo those of mcdonald's and dominos which have also seen consumers cut back on spending wait and see as far as the fed is concerned. wait and see as far as the fed is concerned-— wait and see as far as the fed is concerned. what will do as far as borrowin: concerned. what will do as far as borrowing in _ concerned. what will do as far as borrowing in the _ concerned. what will do as far as borrowing in the world's - concerned. what will do as far as borrowing in the world's largest i borrowing in the world's largest economy. there is a bit of optimism in some of the result is a coming out right now and the exchange rate boosting profits rents to $80.j boosting profits rents to $80. j what is happening in the us. those are the ones that we will be waiting to see what happens as far as the foreign affair is concerned. just shy of 1% and it is reporting season

for tech, 21/2 percent. we are up to date. we will see very soon.

hello. let's ta ke let's take stock of things that have been happening. anotherfascinating been happening. another fascinating day been happening. anotherfascinating day there. better get the very latest because plenty of gold medals are up to gaps again in paris. let's turn to the bbc sport centre taking the high plight. that's top of the triathlons some really fantastic results and competition they're both in the men's and women's after the ride. . . . , in the men's and women's after the ride. ., . ., , ., ., j ., ride. particularly for team gb. lot of action, ride. particularly for team gb. lot of action. lots _ ride. particularly for team gb. lot of action, lots of _ ride. particularly for team gb. lot of action, lots of 5 _ ride. particularly for team gb. lot of action, lots of 5 medals have i ride. particularly for team gb. lot of action, lots of 5 medals have 1. of action, lots of 5 medals have 1 today must begin with apple. a really dramatic 1. the men's race of course was spun by 24 hours because

a fantastic result for this competitor. he overtook another competitor. he overtook another competitor in the final moments to come home with 1st. a sensational sprint finish to claim the gold. you've got silver in tokyo 2020 a fantastic result for him to win the gold, it in1 hour43 minutes finishing just 6 seconds clear of new zealand's. big rivals in the borders thoughts. there's a lot to him due to the leg that she gave him pretty much the booster from the 10k when he did some great work before that. forthe when he did some great work before that. for the bronze medal, she won that. for the bronze medal, she won that fantastically, a former physics teacher becoming 3rd and a trajectory for her in her career.

she got a