a 3—day losing streak as a calm 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 major indeces snapped three strait days of losses. the is far from over strait days of losses. the is farfrom over according strait days of losses. the is far from over according to tim waterer, the chief market analyst. at kcm trade. still lookin: analyst. at kcm trade. still looking at — analyst. at kcm trade. still looking at possibly - analyst. at kcm trade. st ll looking at possibly september. there is talk of a emergency

meeting. i think there was a market overreaction. markets are pricing in as many as 100 basis points of cuts between now and year end. there's quite a lot of positioning based on an expected dovish monetary policy from here to year end. i think they will want to reassure investors that things are going according to plan. the economy is slowing which is, that's the design of the higher interest rate to bring inflation down. we could see hopefully a moderating influence by the federal reserve come september.

airbnb reported weaker than expected earnings from april tojune 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 5% on wall street. elon musk�*s x filed an anti—trust lawsuit against an advertising group and several companies including mars and unilever. the social 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.

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 colluded to suppress conservative voices and withhold billions in advertising ref new from the platform. the x ceo hired in part for her strength with advertisers 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 isjust wrong. that's why we take action. most 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 horr allensworth, an anti—trust expert at vanderbilt university says x has a case but not strong. it seems the companies were trying to make a statement about x's poll policies and brands. that is protected by the first amendment. i think this is unlikely to be seen as an anti—competitive anti—trust violation. mr musk likes to 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. speaking of elon musk, 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 the republican presidential nominee. 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 in january. 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.

this is 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. 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 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 and 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

he had multiple allegations 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 in hand with bangladesh 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.

let's bring in lutfey siddiqi. he outlines what went wrong. the company had strong fundamentals but once the global headwinds disappeared particularly after the ukraine—russia war, and energy rates up and in particularly an attempt to tackle the head winds far particular particularly prior to the election, two years prior, there's been an attempt at hyper management of the economy, which has resulted in mismanagement and huge inbalances. that created an economic tinderbox for a large unemployed population and underemployed among the young. that needed to be dealt with. i

believe that was the real root of the movement in the last month was economic. yunust father of _ month was economic. yunust father of micro-finance - father of micro—finance accepted a role in the government. how do you think he might affect, impact economic policies in the new government? that's a very positive development. one of the things thatis development. one of the things that is required apart from reforms within the country, is to bring in foreign capital. so, from an economic diplomacy point of view, his appointment is huge. he should be able to put a team together. he should be able to convene international capital. he should be able to mobilise the dias if necessary. i think that is a positive development. we need to make sure that the transition happens as quickly as possible and he builds a team around him and the country gets into execution mode because the economy is not going to wait for ideological

political issues to entirely resolve themselves, oh. even as that happens the focus on economics needs to be great, if thatis economics needs to be great, if that is the diagnosis of what precipitated the situation right now. precipitated the situation right "ow-— precipitated the situation right now. precipitated the situation riahtnow. �* , ., ., right now. arsenal scored a partnership _ right now. arsenal scored a partnership with _ right now. arsenal scored a| partnership with american's atletic company. the club's first non—alcoholic beer deal as it expands. according to the company, non—alcoholic beer sales have jumped company, non—alcoholic beer sales havejumped nearly 40% this summer. that's all the time we have here on business today. thanks for watching.

now time for the catch up. today scotland exam results chaos. and sky 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. 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'sjust 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. sky 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 0lympic 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

the brazilian and the costa rocam took part in the semifinal. have a great night. hello, here is what is coming up for you on sportsday. josh kerr and jakob ingebrigtsen are caught cold as the gold is stolen in the 1500m 0lympic final. bronze for sky 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 mondo duplantis after his gold medal winning record breaking night at the stade de france.

welcome, as day 11 at the olympics has drawn to a close. another 15 golds have been won and triumph in the men's 1500m final. josh kerr and norway's 0lympic championjakob ingebrigtsen, one of the greats in athletics. no love lost. they cancelled each other out. the american cole hocker is the new champion. jakob ingebrigtsen set a world record pace as he looked to unsettlejosh kerr. kerr moved past. a tired hocker took gold in a record time. jakob ingebrigtsen finished out of the medals. kerr took silver ahead of another american. team gb finished fourth and fifth in the women's 200m final.

the usa's gabby thomas got gold and silver went