the asia pacific. it was a direct message on my personal instagram. i of course knew straightaway it was some kind of scam, it had to be. but i wasn't sure which so i decided to play along. and the bbc gets a rare insight into what's being called pig butchering scams. hello and welcome to business today. i'm arunoday mukharji. in the coming hours, australia's central bank will begin its 2—day meeting. experts are hopeful of a rate cut some time this year but the rba is expected to keep rates as they are for now. last week, a number of central banks tweaked monetary policy. the bank of england delivered its first rate cut in 4 years, citing lower inflation. the bank ofjapan hiked rates for the second time ini7 years

due to consumer prices edging up. in the us — the federal reserve held steady but fed chairjerome powell hinted at a potential rate cut in september. let's turn to financial analyst peter mcguire. he's been speaking to me about what policy makers in the region are looking out for her. many different facets they need to look at. the inflation numbers, job numbers, to look at. the inflation numbers, 'ob numbers, what's numbers, job numbers, what's happening with housing. i think the deal at the moment is the same pat. probably a 25 basis point cut is pretty much patent by sometime in december. that seems to be the mood across the fabric of it. seems to be the mood across the fabric of it— fabric of it. we've heard a lot about the _ fabric of it. we've heard a lot about the prices _ fabric of it. we've heard a lot about the prices of _ about the prices of supermarkets in australia, it seems wages are not keeping up with rising prices. what has it been like they're on the ground?— been like they're on the round? ~ ., �* ., been like they're on the round? ~ . �* ., ., been like they're on the round? . �* ., .,

ground? what i've heard on main street, certainly _ ground? what i've heard on main street, certainly everyone - ground? what i've heard on main street, certainly everyone is - street, certainly everyone is feeling it as far as consumption for the credit card debt is pretty much maxed out on all of those impacts going across rent, views, services and everything else. there's a lot of heart and people are looking for some fort source of breastplate which in turn impacts naturally mortgage and the big cause of the month. == the big cause of the month. -- rest bifold _ the big cause of the month. —— rest bifold up looking towards the us and a potential breaker, is at the same sentiment in australia? i is at the same sentiment in australia?— australia? i think we're probably _ australia? i think we're probably sitting - australia? i think we're probably sitting back. australia? i think we'rei probably sitting back to australia? i think we're - probably sitting back to see where it rolls as far as that bad. there's a lot of central banks doing similar tactics. they are thinking if we see a 50 point basis cut by the fed there's going to be 25, where is that going to move? you got election three months today. all of those moving parts need to be considered for any central banker.- to be considered for any central banker. given that australia _ central banker. given that australia is _ central banker. given that australia is an _ central banker. given that australia is an export - central banker. given that l australia is an export driven economy, how do you see this

impacting australia? i economy, how do you see this impacting australia?— impacting australia? i think ou've impacting australia? i think you've got _ impacting australia? i think you've got worker _ impacting australia? i think you've got worker growth, i you've got worker growth, certainly china would've liked. that's an impact as far as exports and consumption. i think overall we got to keep on motoring through and hopefully 25 will be a better year or a more supported year as far as our export driven economy. to the likes of china, asia and pretty much japan. china's government has issued guidelines to fuel household spending — something that is weighing on growth in the world's second largest economy. the plan targets sectors including child and elder care, as well as the food and beverage industry. last month, leaders including president xijinping promised to help boost domestic consumption and ease pressure on the country's ailing property sector. turning now to southeast asia, which could be poised to dethrone china when it comes to foreign direct investment. that's one of the key conclusions made by a report co—authored by bain and company, which also

pointed out that economic growth in southeast asia is set to outpace china. charles 0rmiston, one of the lead authors of the report. we're excited because they are emerging from 30 years of relative stability but lower growth. the biggest catalyst is firms looking for alternatives to china. these are generally export oriented firms that are finding constraints fighting markets but also looking to diversify supply chain. that's the biggest source of optimism. we also see the different southeast asian countries competing for those investments. that's resulting investments. that's resulting in better outcomes for investments and consumers. which sectors do you see this coming into?— which sectors do you see this coming into? generally you're lookin: coming into? generally you're looking at _ coming into? generally you're looking at the _ coming into? generally you're looking at the sectors - coming into? generally you're looking at the sectors where l looking at the sectors where the supply chains are bifurcating more quickly. things like semiconductors, data centres, some of the more

sensitive areas where solar panels, electric field goals, batteries for them were also seeing areas where you can couple the development of the raw material with the processing of rock to pair two material. i5 processing of rock to pair two material. , ., ., material. is there a region still as attractive - material. is there a region still as attractive as - still as attractive as singapore is taken out of that could do a neck equation given a 60% of the regions in singapore? it a 6096 of the regions in singapore?— a 6096 of the regions in sina-aore? , ., ., ., singapore? it is one of more startlin: singapore? it is one of more startling statistics _ singapore? it is one of more startling statistics when - singapore? it is one of more startling statistics when you | startling statistics when you consider the region is 550 million people. they increase from 56% to 62%. we don't think they can sustain that but that wouldn't be the fault of singapore it will because the other markets have become more attractive for the industries are looking at a diverse set of targets they�* re are looking at a diverse set of targets they're excited about vietnam, putting more money into... malaysia, indonesia has managed to get its fair share of the investment and the philippines is up—and—coming. we see as investors assess the

merits of each countries they are diversifying quickly whether but their dollars. 0ne whether but their dollars. one of the misnomer as is people are looking for taxes, low labour and low man because, if that were the case singapore would not be getting 62% labour. we been advising governments to focus more on the quality of the workforce, stability and policy and ensuring the infrastructure is built. . ., ensuring the infrastructure is built. ~ . , , , . ., built. warren buffets warren berkshires — built. warren buffets warren berkshires sold _ built. warren buffets warren berkshires sold nearly - built. warren buffets warren berkshires sold nearly half. built. warren buffets warren | berkshires sold nearly half of its apples take this year. it is a surprising move for the investor who has famously focused on long—term gains. according to the companies earnings its holding in the iphone maker was valued at 80 or $.2 billion at the end of march tojune quarter. that would mean it off—loaded a little more than 49% of its stake. scams seem to be everywhere nowadays. well, a bbc reporter has been given an insight into one type of financial scam — "pig butchering" where victims are romantically befriended

on social media and then tricked into investing in fake crypto schemes. cyber correspondentjoe tidy was targeted on instagram and played along for more than two months to find out what psychological tricks the scammers employ. so that's how it all started. it was a direct message on my personal instagram, but i of course knew straightaway this was some sort of scam. it had to be, but i wasn't sure which. so i decided to play along.

i want to see if these pictures are of a real person. they're being used by lots of scammers on dating sites. and here is the real person — a german influencer. i'll warn her that her pictures are being used. this explains a lot. jessica hasjust sent me a screenshot of her cryptocurrency profits $47,000, and she's basically saying you can be rich too. so, as suspected, and much to my wife's relief, this is indeed a pig butchering scam. jessica has now asked me to spend some money. i said, i've only got £200. and what's interesting isjessica has made me feel very poor. we've been doing this really complicated process of fake trading now well over an hour, and i can see my profits rising.

but of course it's all fake. there's no way that people would go through this process if there wasn't that little hook of potential romance. this isn'tjust about the money. this is about something more romantic. in the flurry of instructions thatjessica sent me, she accidentally sent me one of her own instructions, which has chinese writing. also, if you look at one of her pictures from the very early days of her instagram account, that too has some items in a shopping trolley that are in chinese, i wonder where she is. what i do know is they're making a lot of money. sometimes these people involved in pig butchering, they are, in a sense, victims themselves. they're part of big call centres that are kind of lock you in and take your passport. so i want to know who is behind the jessica account. we've had eight weeks of keeping up this

pretence and now they've just dropped it. and now they're trying another way to get money. i don't really believe what they're saying is true. i think they're just trying to find a way to get me to pay them more money. here is something thatjust might drive you bananas. 0ne here is something thatjust might drive you bananas. one of the biggest video games in the world is called banana. it doesn't require much skill, all you have to do is click on a picture of a banana, which leads to a bunch of rewards like skins that you can sell for real money. it recently hit 1 for real money. it recently hit i million users are under 72 two hours with a doesn't sound like a fruitful waste of time for the that's all for now. the news continues. thank you for watching.

hello and welcome to sportsday — i'm hugh ferris. our top stories: the world's fastest man, but onlyjust — noah lyles wins olympic gold in the 100 metres. 26 grand slam titles, but novak djokovic says winning olympic gold is his greatest achievement. and don't tell scottie scheffler golf shouldn't be in the games, he too sheds a tear as the gold medal is hung around his neck. hello again. noah lyles has won the olympic 100 metres title and he didn't lead a race in paris until the very last frame of the final.

the american has added olympic gold to his world title,