and elon musk declares street. and elon musk declares war on advertisers, accusing them of boycotting his social media site x and a brand—new lawsuit. hello and welcome to business today. i'm suranjana tewari. let's start in the us, where the major indices on wall street staged a slight recovery on tuesday, snapping three straight days of losses. the change in sentiment was helped after markets injapan rebounded sharply, reversing steep falls from earlier in the week. but our next guest says the volatility we've seen is farfrom over. let's bring in tim waterer, chief market analyst at kcm trade. the big question is how much further to go in so much market turbulence. i think that's what were waiting to see. the doj blues last week, i think the

bulk of been done it depends on the nature of what happens from here and out. there are still trades in the market for that there has been their ordinary trading currencies with up if they are more gradual in nature now that we know what the doj has done i think the markets can better absorb any further unwinding for them if there's a change to that yield differential pressure between the us and japan, back at spock a bit more of that panic selling. that's what could potentially stir markets up. still dicey in the market, good to see some stability return. still a number of unknowns in terms of the economic fortunes of the us moving ahead and the actions of federal reserve may do on the interest rate in the coming months. a number of uncertainties that the markets have to deal with for the time being. d0 have to deal with for the time beinu. ,, have to deal with for the time beinu. ~' being. do you think the fed will be swift? _ being. do you think the fed will be swift? it's _ being. do you think the fed will be swift? it's been - being. do you think the fed i will be swift? it's been such being. do you think the fed l will be swift? it's been such a delicate balance trying to control inflation but also prevent a recession. do you think they might cut interest

rates sooner than expected? i still think we're looking at september. there has been talk about possible emergency meeting, i'm not sure that were there yet. just that one, i think that's enough. i think there was an over action by the market for that we will see what happens. all indications are that we're looking at september. not a question of do we aca 20 225 basis of 50 basis cut? markets placing in an hundred basis cut between now and year end. it is already a lot of positioning based on unexpected deluge policy from here to year end. i think the thing is, if the fed thinks will go with an emergency meeting or larger than expected rate cut that could create panic in that market. i think they will want to try and reinsure investors that things are going according to plan, the economy is slowing, that's the economy is slowing, that's the design of the higher interest rate bring inflation

down. i think we could see a moderating influence from the reserve when we hear from them come september.— reserve when we hear from them come september. airbnb reported weaker than _ come september. airbnb reported weaker than expected _ come september. airbnb reported weaker than expected earnings i weaker than expected earnings for april tojune quarter for for april to june quarter for the amid for april tojune quarter for the amid slowing demand in the us. it's outlook for the current quarter isn't much better either. it expects to see short term booking windows globally. that suggests travellers are waiting until the last minute to book trips or experiences with up shares fell 14% and after—hours trading. elon musk�*s social media company x has accused the global alliance for responsible media, a coalition of major advertisers, of violating us antitrust law. the suit alleges that this group, along with its members, which include companies like mars and unilever along with the world federation of advertisers, colluded to suppress conservative voices and withhold billions of dollars in advertising revenue from the platform formerly known as twitter. the bbc has reached out to the defendants but is not yet heard

back from them. elon musk social media company x has accused the coalition of major advertising of violating us antitrust law. the suit alleges that this group along with its members, which include companies like mars and unilever, along with the world federation of advertisers couuded federation of advertisers colluded to suppress conservative voices and withhold billions of dollars in advertising revenue from the butler formally known as twitter. x's ceo linda yaccarino, who was hired in part because of her strength in dealing with advertisers in her previous job, announced the lawsuit. i was shocked by the evidence uncovered by the house judiciary committee that a group of companies organised a systematic illegal boycott against x. it is just wrong and that is why we're taking action. most social media companies provide their services to users forfree, relying on ad dollars

to be profitable. in its filing, the company says that back in 2022, 90% of its revenue came from advertising. today, most of it is from small and medium sized companies that aren't members of this group, adding that this has reduced its revenues and ability to invest in its products, harming users of the site. professor rebecca haw allensworth, who is an antitrust expert at vanderbilt university, believes that x does have a case, just not a very strong one. it seems like what the companies were doing in boycotting x was really trying to make a statement about x's policies and about their brands that's protected by the first amendment. and i think this is unlikely to be seen as a real anti—competitive kind of antitrust violation. mr musk likes to present himself and his platforms as champions of free speech.

but when he now calls a war with the advertising industry, suggests that even he thinks there are limits to that freedom. michelle fleury, bbc news, new york. donald trump says the tech billionaire will interview him next monday. that's according to a post on trump's social media platform truth social by the republican presidential nominee musk has yet to confirm if an interview is indeed taking place. let's turn now to bangladesh, where nobel laureate muhammad yunus has been chosen as chief advisor for the country's interim government. this comes a day after prime minister sheikh hasina resigned and fled the country in the face of ongoing protests overjob quotas. as we wait to see the formation we outline what went wrong in the first place. outline what went wrong in the first place-— first place. the country has a stron: first place. the country has a strong fundamentals, - first place. the country has a strong fundamentals, has . first place. the country has a | strong fundamentals, has had

strong fundamentals, has had strong fundamentals. but once the global tailwinds disappear and headwinds appeared, particularly after the ukraine— russia war, energy prices up, interest rates, in an attempt to tackle the headwinds, particularly in the run—up to the elections injanuary earlier this year, for about two years prior to that there has been an attempt at hyper management of the economy, which is simply resulted in mismanagement for the huge imbalances building up. that has created an economic tinderbox for a country with a very large, young population, under employed population. those imbalances need to be dealt with. i believe that what was the real root of the movement in the last month has been economic.— been economic. bangladesh has not ve been economic. bangladesh has got very established _ been economic. bangladesh has got very established textile - got very established textile industry and supplies to some of the biggest brands in the world like h&m and zara, for

example. how is not been affected and what do you see happening in the weeks to come? the ready—made garment industry is one of the two main engines of export earnings. and it's a high volume, low margin business on the whole. it requires mobility and fluidity, the cognitive function. certainly blockades are not good for that. in a particular time with global demand seems to be on the up to, we need to make sure the supply side is held with. however, there has been a crisis of confidence in the economy. what has happened this week is hugely positive. but you do need to get back to business, get into execution mode, free of businesses to really get back into their business with up but longer term there needs more investment, better labour relations, more skills development, productivity, etc. we have a good basis for a

governance dividend to be felt from here on.— governance dividend to be felt from here on. ~ . ., , from here on. muhammad yunus, the father of _ from here on. muhammad yunus, the father of micro-finance - from here on. muhammad yunus, the father of micro-finance has i the father of micro—finance has accepted a role in the government. how do you think he might impact economic policies in the new government?- might impact economic policies in the new government? that's a ositive in the new government? that's a positive development. _ in the new government? that's a positive development. one - in the new government? that's a positive development. one of. positive development. one of the things that is required apart from reforms within the country is to bring in foreign capital. from an economic diplomacy point of view his appointment is huge. he should be able to put a team together and convene international capital. mobilise if necessary for the i think that is a positive development, we just need to make sure that the transition happens as quickly as possible and he builds a team around him. in the country really get into execution mode because the economy is not going to wait for ideological political issues to entirely resolve themselves even as it

happens the focus on economics needs to be great for them if thatis needs to be great for them if that is really the diagnosis of what precipitated the situation.— what precipitated the situation. , ,, ., situation. lutfey siddiqi from london school _ situation. lutfey siddiqi from london school of _ situation. lutfey siddiqi from london school of economics. j before we go microsoft and push back against delta airlines claim is seeking $500 million worth of compensation for that last week delta ceo had attributed microsoft and crowdstrike to have caused the cancellation of thousands of flight and therefore seeking damages. that is it for this addition of business today. to stay with bbc news.

hey, i'm lola with the catch up. tonight scotland exam results chaos, brooke schofield's resurfaced tweets and skye

brown skates to bronze. we start with the riots in the uk, and the person in charge of prosecutions here says they are considering terrorism charges for some rioters. loads of people have appeared in court. 100 people have been charged and over 400 arrested. hundreds of extra prison spaces are being made available to hold people who are charged. the prime minister held another emergency cobra meeting with police leaders tonight. some other stories — the day began with chaos for some students in scotland expecting to receive their exam results. got a message saying your candidate, your 2024 results are. and then it'sjust a blank space. that's the experience that 7000 students had. the exam board sorted the issue out really quickly and said sorry. tiktok star brooke schofield has apologised for resurfaced tweets appearing to contain racist language. the tweets included the influencer appearing to defend george zimmerman over the death of trayvon martin.

zimmerman killed martin, who was just 17 and unarmed. in her apology schofill said she never thought racism was ok and she didn't realise that she was part of the problem. and sky brown has done it again. the 16—year—old won a bronze medal for skateboarding despite dislocating her shoulderjust before the olympics. this means she has two olympic medals at the age of 16. that is insane. time now for 10s of a whale of an interruption. a whale made quite the splash during the surfing at the olympics in tahiti. surprise photobomb came as tatiana weston—webb from brazil and brisa hennessy of costa rica took part in the semifinal. you're all caught up now. have a great night. hello and welcome to sportsday — i'm olly foster, here's what's coming up on sportsday.

kerr and ingebritsen are caught cold as cole hocker steals gold in the 1500 metre olympic final. teenage tricks — bronze again for sky brown in the skateboard park with australia finishing top of the podium. and the king of the pole vault meets the king of sweden. we catch up with mondo duplantis after his gold medal winning, record breaking night at the stade de france. hello there. day 11 at the olympic games has drawn to a close, another 15 gold medals have been won. who would triumph in the mens 1500 metres final? would it be great britain's world championjosh kerr or norway's olympic

championjacob ingebritssen, one of the great rivalries