streak as a calm returns to wall street. _ streak as a calm returns to wall street. elen - returns to wall street. elon musk declares war on advertisers accusing help of boycotting his social media site x in a 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 far from over. let's bring in tim waterer, chief market analyst at kcm trade. the big question is how much further to go is there in this unwinding of the intray that caused so much turbulence. what that's what we're waiting to see i was sparked by the b0] moves last week. i think a bulk

of the unwinding has been done. it depends on the nature of what happens from here on out. there are trades in the market, it's been the funding currency. if they are mortgage ule, now we know what the b0] has done and i think the markets can better absorb perhaps any further unwinding. if there's a change to that yield differential between the us and japan, that could park panic selling. that could stir markets up. so, still a bit dicey in the markets. good to see stability return. still a number of unknowns in terms of the economic fortunes or otherwise of the us moving ahead and what actions the federal reserve may do on the interest rate front. so, a number of uncertainty parts, the market has to deal with that. , ., the market has to deal with that. ,, . , that. do you any the fed will be swayd? — that. do you any the fed will be swayd? it's _ that. do you any the fed will be swayd? it's been - that. do you any the fed will be swayd? it's been a - that. do you any the fed will. be swayd? it's been a delicate balance trying to control inflation but prevent a recession. do you think they

might cut interest rates sooner than expected? i might cut interest rates sooner than expected?— than expected? i think we're hookin: than expected? i think we're hooking at — than expected? i think we're hooking at potentially - hooking at potentially september. there's been talk about a possible emergency meeting. i'm not sure we're there. just that an overreaction by the market. all indications are we are looking at september. now it's if we see a 25 basis point cut or 50. markets are currently pricing in as many as 100 basis points of cuts between now and the year end. there's a lot of positioning based on an expected dovish monetary policy from here to year end. so, i think the thing is, if the fed said, let's go with an emergency meeting or a larger than expected rate cut that could create panic in the market. i think they will want to try to reassure investors things are going according to plan, the economy is slowing, the design of a higher interest

rate, to bring inflation down. we could see hopefully a moderating influence by the federal reserve come september. we can snow you live pictures from the tokyo stock exchange. it opened lower, around 2%. we will track what happened in the us. it wasn't a meltdown as we saw earlier in the week. a very cautious rebound and asia likely to follow. airbnb reported weaker than expected earnings from april to june amid flowing demand in the us. the outlook for the quarter is not much better. they expect to see shorter booking windows. that suggests travellers are waiting to the last minute to book. shares fell.

ride sharing giant uber reported strong earnings april tojune. steady demand coupled with strength in markets like latin america and here in the asia—pacific helped drag the solid result. uber�*s stock was up solid result. uber�*s stock was up 5% on wall street. elon musk�*s x filed an anti—trust lawsuit against an advertising group and several companies including unilever. the social media company said the group couuded media company said the group colluded to discourage brands from advertising on the platform, once known as twitter, costing it billions in revenue. the bbc has reached out to the defendants. we have not heard back. 31, out to the defendants. we have not heard back.— not heard back. x has the global alliance _ not heard back. x has the global alliance for - not heard back. x has the - global alliance for responsible media, a coalition of advertisers of lating us anti—trust law. the suit alleges this group along with

members which include companies like mars and unilever and the world federation of advertisers couuded world federation of advertisers colluded to suppress conservative voices and withhold billions in advertising ref new from the platform. a ceo hired in part for her strength with advertisers announced the lawsuit. i advertisers announced the lawsuit. . , advertisers announced the lawsuit. , _ lawsuit. i was shocked by the evidence uncovered - lawsuit. i was shocked by the evidence uncovered by - lawsuit. i was shocked by the evidence uncovered by the i lawsuit. i was shocked by the - evidence uncovered by the house judiciary— evidence uncovered by the house judiciary committee that a group _ judiciary committee that a group of companies organised a systematic illegal boycott against x. it isjust systematic illegal boycott against x. it is just wrong. that's_ against x. it is just wrong. that's why we take action. most social media _ that's why we take action. most social media companies - that's why we take action. ififrsit social media companies provide services to users for free, relying on ad dollars to be profitable. in its filing, the company says in 2022, 90% of revenue came from advertising. today, most of it is from small and medium sized companies that

are not members of this group, adding this reduced revenues and ability to invest in its products, harming users of the site. professor rebecca allensworth, an anti—trust expert at vanderbilt university says x has a case but not strong. it says x has a case but not stronu. , , says x has a case but not stron. , , , strong. it seems the companies were trying _ strong. it seems the companies were trying to _ strong. it seems the companies were trying to make _ strong. it seems the companies were trying to make a _ strong. it seems the companies| were trying to make a statement about _ were trying to make a statement about x's— were trying to make a statement about x's poll policies and brands _ about x's poll policies and brands. that is protected by the first _ brands. that is protected by the first amendment. i think this is— the first amendment. i think this is unlikely to be seen as an anti—competitive anti—trust violation _ an anti—competitive anti—trust violation. mr an anti-competitive anti-trust violation. ~ ~ ~ , ., violation. mr musk likes to resent violation. mr musk likes to present himself _ violation. mr musk likes to present himself and - violation. mr musk likes to present himself and his . present himself and his platforms as champions of free speech. what he calls now "a war with the advertising industry" suggests that even he thinks there are limits to that freedom. ,, , . ~ ., thinks there are limits to that freedom. .~ ., ., ~ freedom. speaking of elon musk, donald trump _ freedom. speaking of elon musk, donald trump says _ freedom. speaking of elon musk, donald trump says that _ freedom. speaking of elon musk, donald trump says that the - freedom. speaking of elon musk, donald trump says that the tech | donald trump says that the tech billionaire will interview him next monday. that is according

to a post on trump's social media platform, truth social, by a republican presidential knee. mskh has yet to confirm this. boeing committed to working on a design change to avoid a repeat of that midair door blow—out on the alaskan airlines jet blow—out on the alaskan airlinesjet in blow—out on the alaskan airlines jet injanuary. airlines jet in january. initial findings airlines jet injanuary. initial findings showed the problem was that four bolts meant to secure the panel was missing but at the latest 2—day hearing conducted by the national transportation safety board officials could not identify where in the work process the lapse occurred. now to bangladesh. 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

ing overjob quotas. yunus, who was awarded the 2006 nobel peace prize for his microfinance movement, is currently in paris for a treatment and will be returning to the country soon. the bbc�*s india business correspondent archana shukla has more on the man who could help chart a new political era for bangladesh. he's called the banker. remember he started the bank thatis remember he started the bank that is known to have lifted millions of rural poor out of poverty by providing them with tiny loans without collateral, some less than $100 i brought credit to those who would normally never for traditional bank loans and the lending model has been replicated around the world. yunus had a frosty relationship with the sheikh hasina government. he had multiple allegations of and embezzlement and a jail sentence, and the banker calls

them politically motivated. amid the process that ousted sheikh hasina, yunus was seen as the unanimous choice by the public to lead the government. his global image, financial know—how, relations with institutions and banks, economists say will be hand which nor bangladesh that needs to keep lenders assured. bangladesh has over $100 billion of external debt and a crisis. nearly $7 million of financial aid comes from imf and the world bank which bangladesh needs to keep flowing in to support its flagging economy. now, as the dust settles and the interim government is formed, the focus in bangladesh will shift to bringing economic stability, taming inflation and keeping the public united. yunus will have his hands full. mike short has pushed back delta seeking

compensation. last week delta ceo attributed microsoft and crowdstrike to have caused the cancellation of thousands of flights and sought damages. 0n 6 august microsoft through a lawyer stated that delta's older it infrastructure slowed down recovery from the black—out. no lawsuit has been filed by either party. we are keeping a close eye on markets in asia to see what happens. and whether it follows us markets, a slight rebound down just under 2% there. that's all for this edition of business today. thanks for watching.

of now the catch up. today scotland exam results chaos. and skye brown skates to bronze. we start with the riots in the uk. the person in charge of prosecutions here, says they are considering a terrorism charge for rioters. loads have appeared in court, 100 charged. 0ver appeared in court, 100 charged. over 400 arrested. hundreds of extra prison spaces are being made available to hold people who are charged. the prime minister heard another emergency cobra meeting with police leaders tonight. some other stories now. the day began with chaos for some students in scotland expecting to receive their exam results. the 2024 results are... and then it's just a the 2024 results are... and then it'sjust a blank the 2024 results are... and then it's just a blank space. that's the experience that 7,000 students had. the exam board sorted it out quickly and

said sorry. tiktok star brooke schofield apologised for resurfaced tweets appearing contain racist language. it appeared to defend george zinmmerman over the death of treyvon martin, 17 and unarmed. she said she never thought racism was ok and didn't realise she was part of the problem. skye brown has done it. the 16—year—old won a bronze for skateboarding despite dislocating her shoulder before the olympics. this means she has two olympic medals at the age of 16. that is insane. time now for ten seconds of a whale of an interruption a whale made the splash in this serving at the olympics in tahiti. the brazilian and the costa are rick can took part in the semifinal. have a great night.

hello, here is what is coming up hello, here is what is coming up for you on sportsday. rr and jakob ingebrigtsen are caught cold as the gold is stolen in the 1500m olympic final. bronze

for skye brown in the skate board park with australia finishing top. the king of the pole vault meets the king of sweden. we catch up with a gold medal winning record breaking night at the stade de france. welcome along day 11 at the olympics has drawn to a close. another 15 golds have been won would triumph in the men's 1500m final? josh kerr or norway's olympic champion, jakob ingebrigtsen, one of the great in athletics. no love lost. they cancelled each other out. the american,. can c ole hoccer is the new champion.

jakob ingebrigtsen set a