this is expected to help the company attract investments from mainland china. timing wise — this is all happening as alibaba is facing multiple headwinds, including a slowing chinese economy and intense competition from a very crowded e—commerce industry. gary dvorchak from investment firm the blueshirt group joined me earlier. i think it's a fantastic move, and here is what i think is the rationale behind it. when these companies are dual listed, and they are not the only one, there are a number of chinese companies that have adr in the us and are traded in hong kong. at the adrs are still the driving force behind their evaluation and as we all know almost all of these companies are having terrible right now. with not

having a lot of positive sentiment coming from us investors, the companies obviously are trying to figure out how to appeal to a new set of investors that can offer a better valuation or recognise better valuation or recognise better valuation. so obviously asia —based investors understand the company better, they understand china better. they are less worried about the environment in china in general again from a political and trade perspective as opposed to the economy certainly the economy in china is not great. but to those investors buying in hong kong, not enough buying power, not enough ability to change the valuation relative to this big anchor, which is the adr positions. so upgrading it to a dual primary gives it the ability forfirst it to a dual primary gives it the ability for first of all for money to come in from the mainland through the connects and various channels like that,

and various channels like that, and then the hong kong traded stock can start influencing the us adrs rather than vice versa. were main challenges they are facing? it's recently been seeing a hit in profits. even thou:h seeing a hit in profits. even though it — seeing a hit in profits. even though it is _ seeing a hit in profits. even though it is traded - seeing a hit in profits. even though it is traded in the i seeing a hit in profits. even| though it is traded in the us as a domestic company, right? so nearly all of their revenue and business is based in china. so they are the a bellwether of the chinese economy, so all of us know, especially the people that live there, like myself, know that the economy is particularly weak. the consumer there is under pressure. youth unemployment is quite high, and by the way, the younger generation is the one that is driving more online commerce because historically, and even now, they are the ones with the better paying urban jobs. now, they are the ones with the better paying urbanjobs. so you have high unemployment amongst your primary market amongst your primary market amongst consumers, and this is the other thing we are still seeing a hangoverfrom the other thing we are still seeing a hangover from the pandemic years. a lot of people

depleted their savings during those three years of the covid lockdowns and the difficulties. and they are doing what is natural, which is rebuilding their savings. so when you are rebuilding your savings you are not spending. so it builds upon itself, right? to not only have the economy week in general and trying to recover and then there is a headwind of people trying to save money and get back into a better financial position as they were before the pandemic.— the pandemic. gary with his thoughts — the pandemic. gary with his thoughts from _ the pandemic. gary with his thoughts from the - the pandemic. gary with his thoughts from the blue - the pandemic. gary with his| thoughts from the blue shirt group. staying with china's e—commerce industry, jd.com says it will repurchase up to five billion dollars in shares, starting next month. its share prices took a hit last week after walmart said it was selling its entire stake in the firm. the move stoked concerns about the slowdown in chinese consumer spending. chinese electric vehicle maker xpeng has launched its first budget ev.

the entry—level mona hatchback is priced at around 16,800 dollars. the company says it expects to sell at least a hundred thousand mona cars every year, as it looks to stand out in a crowded market. us information technology giant hp will receive 50 million dollars in funding from the commerce department. the funds will go towards expanding and upgrading the company's factory in oregon, that develops semiconductor technology. the award is part of the chips act — aimed at boosting the domestic production of computer chips. you might think he is busy running an election campaign and fending of legal cases but that hasn't stopped donald trump from attempting to cash in on his image. he'sjust launched his fourth collection of digital trading cards —— with some depicting him as a superhero and motorcyclist. the bbc�*s ritika gupta has more from new york. in an attempt to win over crypto friendly voters ahead of november's election, donald trump is offering a fourth

collection of nonrefundable tokens. , ,, ., tokens. these cards show me dancin: tokens. these cards show me dancing and _ tokens. these cards show me dancing and even _ tokens. these cards show me dancing and even me - tokens. these cards show me dancing and even me holding| dancing and even me holding some — dancing and even me holding some bait coins. the dancing and even me holding some bait coins.— dancing and even me holding some bait coins. the new batch forjurors _ some bait coins. the new batch forjurors 50 — some bait coins. the new batch forjurors 50 and _ some bait coins. the new batch forjurors 50 and ftes - some bait coins. the new batch forjurors 50 and ftes for- some bait coins. the new batch forjurors 50 and ftes for $99 | forjurors 50 and ftes for $99 each with an additional trading card showing trump as a boxer, dancing and even as a superhero. the release includes packages that promise physical gifts to buyers, purchases of 15 and ftes can get a piece of trump's debate suit or buyers of 75 and ftes will have dinner with trump in florida. trump says his brevis sales have generated more than $4 million in revenue per release, though his cut isn't clear. the nft sale is happening as trump builds on the growing interplay between crypto and politics. trump has vowed to support bit coin mining in the us and to work against creating a central—bank digital currency in the country. mark zuckerberg says he regrets bowing to pressure from the biden administration to "censor" content on facebook and instagram during the covid pandemic. in a letter sent to the us housejudiciary committee,

the meta boss said some material — including humour and satire — was taken down in 2021 under pressure from senior officials. the white house has defended its actions, saying it encouraged "responsible actions to protect public health and safety". eli lilly, which is best known for weight—loss drug zepbound, will sell new single—dose vials of the drug at around half the price.a monthly supply of vials is being sold from under 400 dollars. the drug was previously only available as injector pens.the us company has faced supply chain contraints that stopped it from filling injector pens, leading to widespread shortages of the drug. it said the move would increase access to zepbound and ease demand. sony is raising the price of its flagship playstation 5 injapan byi9%. starting from september 2nd, the console will be sold for around 550 dollars. the company said it had been hit by "the severe

external environment, including recent global economic fluctuations". the playstation 5 is around four years old and sales of the device fell in the april to june quarter. turning now to the uk, where one company is trying to make budget flip phones popular again. hmd thinks the limited features on its flip phones could help parents trying to curb their children's access to harmful social media content. and they've even tied up with barbie to make the phones more appealing. the bbc�*s technology editor zoe kleinman looks at whether back—to—basics phones are the way forward. is 65—year—old brand which was given a new lease of life last summer when the star—studded film hit cinemas is back again. this time it's in the form of a flip phone made by the mobile flip phone made by the mobile flip phone made by the mobile flip phone company, the same budget brand behind nokia. it's a feature phone, also sometimes called a dumb phone meeting

there is no access to social media and can only perform basic functions like texting and calling. as concerns about the pressures of digital life on young people grows, hmd hopes devices like this might prove popular with children and indeed adults looking for a digital detox. i asked the firm whether the handset will live up whether the handset will live up to expectations among young people as it tries to complete with smartphones. we people as it tries to complete with smartphones.— people as it tries to complete with smartphones. we say we are clear about _ with smartphones. we say we are clear about this _ with smartphones. we say we are clear about this phone _ with smartphones. we say we are clear about this phone not - clear about this phone not coming with social media because we have seen this in young people wanting to have a digital detox. this is delivering on what they are demanding. i think when we are talking about barbie, there is also good values with barbie, yes, you believe in the brand. i made this my phone for one day and it certainly was an effective digital detox because there really isn't a lot you can do on it. you can get online but it's impossible to read. there's no app store no front facing camera and only one game. and while you can text, the barbie phone doesn't

recognise the message setting thatis recognise the message setting that is on plenty of smartphones. so you might not get many replies. while this may undoubtedly appeal to some parents, some industry experts question its broader appeal. perhaps in that 7—10 you will secondary school and there is an expectation that smartphones are almost a birthright, that is an opportunity. however the grim reality is when i talk to people who have got smartphones and explained to them the implications of giving up their smartphone for something much more basic, it it is a pretty tough sell. i more basic, it it is a pretty tough sell-— tough sell. i already have tiktok. we _ tough sell. i already have tiktok. we try _ tough sell. i already have tiktok. we try decided i tough sell. i already have tiktok. we try decided to tough sell. i already have - tiktok. we try decided to put that phone — tiktok. we try decided to put that phone to _ tiktok. we try decided to put that phone to the _ tiktok. we try decided to put that phone to the test. - tiktok. we try decided to put that phone to the test. i - tiktok. we try decided to put. that phone to the test. i would like if there _ that phone to the test. i would like if there was _ that phone to the test. i would like if there was things - that phone to the test. i would like if there was things like - like if there was things like google _ like if there was things like google and _ like if there was things like google and you _ like if there was things like google and you could - like if there was things like google and you could take | google and you could take pictures— google and you could take pictures and _ google and you could take pictures and more - google and you could take pictures and more games. j google and you could take i pictures and more games. i pictures and more games. probably wouldn't use a pictures and more games]- probably wouldn't use a phone like that because it doesn't have all the apps that i usually like to use. personally at something _ usually like to use. personally at something i'm _ usually like to use. personally at something i'm really - usually like to use. personallyl at something i'm really worried about— at something i'm really worried about for— at something i'm really worried about for my daughter, in terms of introducing children to using _ of introducing children to using a _ of introducing children to using a phone with restricted access— using a phone with restricted access to _ using a phone with restricted access to social media, i can

-et access to social media, i can get on — access to social media, i can get on board with that.- get on board with that. hmd said it would _ get on board with that. hmd said it would welcome - get on board with that. fiij�*id said it would welcome apps like whatsapp on board with barbie, but whatsapp says not all operating systems work with that service. for now, texting and calling is going to have to be enough. we should all be happy to be kenough. that flip phone really bringing back some memories. goodbye for now.

hey, i'mjulia with the catch up. tonight — 0asis—mania, a bridge for otters, and how to bat for both teams in one game. but first, keir starmer spoke about the budget that's coming up in october. it's the government's plans for the country's finances. and it wasn't a very jolly speech. in fact, he said it will be "painful" and that "things will get worse before they get better". he blamed the conservatives for creating a £22 billion black hole in the public�*s wallet, which they strongly deny. i'll have to turn to the country and make big asks of you as well. to accept short—term pain for long—term good. some other stories now... paralympic gold medallist baroness tanni grey—thompson said she had to crawl off a train at kings cross last night because no

staff came to help her, despite it being pre—arranged. lner has apologised, saying it'll investigate. catcher danny jansen made history as the first baseball player to bat for both teams in the same game. he was playing for the toronto bluejays when heavy rain suspended their game against the boston red sox. a day later, he was traded to the red sox, playing for them when it continued! and it's official — the gallagher brothers are reuniting and 0asis will go on tour in 2025. they said, "the stars have aligned, the great wait is over". uk tickets will go on sale on the 31st of august. and we'll leave you with 10 seconds of otter building works. yes, the otters of west sussex have been dodging cars to cross a busy road, so now, they're getting their own bridge — or shelf — under the road and above the water.

you're all caught up now. see you. hello and welcome to sportsday. at the us open — jannik sinner puts the doping controversy behind him as the world number one takes to the court for his first round match. after surgey to his spine, 0lly stone credites pilates as he's named in the england test side to face sri lanka, three years after his last appearance. and as paris gets set for the opening ceremony of the paralympics — we hearjust what keeps motivating sarah storey who already has 17 medals to her name.

welcome along to the programme — and we'll start with the action at the us open. the men's world number one jannik sinner survived a scare to defeat mackenzie mcdonald in his first match since being embroiled in a doping test controversy. last week it was revealed sinner had failed two drug tests in march, but he escaped a lengthy ban when officials decided he wasn't at fault for the presence of banned anabolic agent in his system. the italian dropped the first set 6—2 before powering through the next three sets dropping just five games against his i40th—ranked opponent on arthur ashe stadium. started a little bit in the not

best way, but for sure, the first match