we are watching japan after they saw their first —— worst day since the black market crash. a us federaljudge has ruled that google's online search monopoly is illegal, paving the way to reshape how these technology companies operate. hello and welcome to business today. i'm arunoday mukharji. to our top story — a usjudge has ruled that google acted illegally to crush competition and maintain a monopoly on online search and related advertising. our north america business correspondent michelle fleury has all the details. the mega— cap stocks also continued to tumble. a falling of over 4%. they are regaining some lost ground in after—hours trading. investors seem to be

worried the federal reserve has waited too long to lower the of borrowing. having said that's come out keeping a close eye on how japanese markets will open this morning. after suffering their biggest points fall in history on monday. the sell off started after the country's central bank raised interest rates last week. the bbc�*s mariko oi has the details. since the bank ofjapan raised the borrowing cost, japan's has lost more than 7300 points in the last three sessions. all the last three sessions. all the gains for this year have now been wiped out, including how it reached its all—time high of more than 42,000 just last month. let's look at why. higher rates have pushed up the value of the japanese currency, and even though that is what the authorities wanted, the more expensive yen means goods sold overseas are more expensive as well, herding

profits over the country's exporters. a stronger yen also affects a popular trading strategy, a carry trade come investors borrow money in our country with low interest rates, in this case japan and then reinvest that money somewhere else for a higher return. borrowing money in the yen to invest elsewhere has been very popular as investors bet japanese interest rates would remain at rock bottom. a new factory in japan's stock market individual investors until recently, people injapan have tended to keep their savings in cash and not invest them in their stocks. the government has encouraged individuals to invest in the stock market by promoting a step tax—free investment programme. those retail investors are facing their first market meltdown. in half an hour �*s time, we will have an update on the japanese markets. neil newman explained what he thinks is playing out

in the japanese market. this is the seventh — in the japanese market. this is the seventh crash _ in the japanese market. this is the seventh crash during - in the japanese market. this is the seventh crash during my i the seventh crash during my career. the first one being in 1987. yesterday, yes, it was absolutely awful. you know, jaws dropping. everybody was losing a huge amount of money very quickly, from neil newman to others. we are sort of hoping that, you know, we will see the market settle down a little bit today. certainly overnight the market performs better than japan data overnight the market performs better thanjapan data and we are probably expecting to see some sort of rebound today and basically like after every crash, you get up, dust yourself off, work out where yourself off, work out where you are and decide what to do stuff like how are investors reacting to the interest rate hike there? well, certainly wound licking going on and as mentioned, a lot of new investors losing money through starting to reinvest through the tax—free plan. in a way,

this is just part of the course of it. the interest rate itself doesn't really directly affect who the investors. but it does in the carriage rate and you see some of the movements against the popular pairs such as the mexican peso, moved 18% and then you see 12—13% against the major g—7 currencies. this is just a the major g—7 currencies. this isjust a huge the major g—7 currencies. this is just a huge shift. at the end of the day what we are seeing here is a process to try to kill the carriage rate. it was getting too big. it started to present a threat to the japanese economy and how the bank of japan japanese economy and how the bank ofjapan and the ministry of finance managed the whole thing. it wasjust of finance managed the whole thing. it was just getting too big and it is time to get rid of it. there will be a new analysis about investors, what they are going to be doing. i

imagine the domestic brokers will be saying some soothing things today and get everything back on track.— back on track. what are your exnectations _ back on track. what are your expectations for _ back on track. what are your expectations for the - back on track. what are your expectations for the months| expectations for the months ahead? i expectations for the months ahead? ~ , expectations for the months ahead? ~' , ., ahead? i think we will see a confirmation _ ahead? i think we will see a confirmation that _ ahead? i think we will see a confirmation that the - ahead? i think we will see a i confirmation that the japanese economy is in good shape, certainly corporate �*s are in good shape and we will start to see interest in the stocks again which will be a lot lower. we had a fantastic rally last year and this is a fairly nasty but normal correction. google acted illegally to crush competition and maintain priority on search. 0ur priority on search. our business correspondent has all the details. business correspondent has all the details-— the details. google 'ust lost a high-stakes h the details. google 'ust lost a high-stakes battle _ the details. google just lost a high-stakes battle with - the details. google just lost a high-stakes battle with the i the details. google just lost a| high-stakes battle with the us high—stakes battle with the us government. a federaljudge ruled that payments the tech giant made to the likes of apple and samsung to make google search the default option on their smartphones and web browsers violated us antitrust law. in its 277 page

ruling, judge emmett wrote "google is a monopolist and it has acted as one to maintain its monopoly." concluding that the money it had spent effectively blocked rivals from succeeding in the markets. it represents a major setback for google and its owner which plans to appeal the decision. a spokesman for the company told the bbc this decision... for now, the ruling is a vindication for america's antitrust regulators. the justice department to foul the case for years ago when donald trump was president hailed the outcome as a historic win and said it would continue to vigorously enforce antitrust laws. no doubt sparking fear in the corporate offices of some of the big tech giants. it is not yet clear for the future of

google's business. this decision is only about google's liability, not about remedies. elon musk has renewed his court filing. musk is alleging that open ai is putting its own commercial interests ahead of public good. the suit targets microsoft's exclusive partnership with the chapter gpt owner. elon musk had found it open ai back in 2015 and two months ago unexpectedly drop a similar lawsuit against the company. similar lawsuit against the company-— similar lawsuit against the coman. ~ company. tiktok says it will permanently _ company. tiktok says it will permanently withdraw - company. tiktok says it will| permanently withdraw future company. tiktok says it will - permanently withdraw future for use the european union after it said it stimulates addictive behaviour. tiktok is a smaller version of the app and has been available in france and spain since april. at the european commission said its rewards future which enables adult users to earn points to exchange for goods breach the european union �*s digital service act. now the chinese owned company has given a legally binding commitment not

to include the future in europe. the first time the european union has accepted such an agreement. to the unrest in bangladesh that the long serving prime minister is rooted in the struggle with a flagging economy, both of which remain on even shakier ground amid the ongoing political uncertainty. the bbc�*s correspondent has more on the economic impact of the developments in neighbouring bangladesh. the developments in neighbouring bangladesh-— developments in neighbouring ban . ladesh. . , bangladesh. the current unrest started for _ bangladesh. the current unrest started for the _ bangladesh. the current unrest started for the underlying - started for the underlying economic distress has fuelled it further. unemployment is high, nearly 32 million young bangladeshis come about 20% of the population are out of work. the private job market has the population are out of work. the privatejob market has been stagnant for years. after that, the flagging economy, deemed a failure of the government in recent years. inflation hovers around 10%, fuel and food prices have been soaring, affecting households dealing with low incomes. country's foreign exchange reserves are shrinking in its garment

sector, a key earner of dollars struggles to fully reopen. the country is already under a $4.7 billion financial bailout programme from the international monetary fund and the current unrest has shaken the current unrest has shaken the ground further. frequent long bouts of internet shutdowns have brought financial and business transactions, even experts to a standstill. the foreign investors has estimated that these curfews and into next shutdown could cost about $10 billion to bangladesh's economy of the lease. economists i spoke with said the current political uncertainty would add to the economic pressures, important to see how capable the interim government is and they need to seek confidence from the private sector and the public to bring back normalcy. it remains an uphill task. keeping across the economic impact of the ongoing political developments there in india's neighbour, bangladesh. before we go, a quick update. china's heavily indebted property giant, together with its liquidators is seeking to

recover about $6 billion in remuneration from seven people, including its founder. according to its filing with the hong kong stock exchange, the hong kong stock exchange, the amount has claimed for the damage caused by alleged misrepresentations of the company's financial position compa ny�*s financial position between company's financial position between 2017 and 2020. ever grand was once china's biggest real estate firm that helped propel the country's rapid economic growth during recent decades. spiralling debt meant the developer struggled to repay creditors for years. ever grand ultimately defaulted in 2021. that is it. this edition of business today, thank you very much for watching and stay on with bbc news.

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sportsday — i'm 0lly foster. great britain have their first 800 metre olympic champion for 20 years. keely hodgkinson leads from start to finish reaching new heights, duplantis retains his olympic pole vault title with another world record biles is strangely off balance on the beam as she fails to add to her golden tally on the final day of the gymnastics another great day for great britain at the olympic games. keely hodgkinson. after taking silver three years ago in tokyo, and also finishing second at the last two world championships — she's now the olympic 800 metres champion. hodgkinson had set the fastest time this year and led the race

from start to finish at the stade de france.