china tops the agenda as ministers from the group of seven major economies gather in japan. plus a's booming beauty industries embracing digital tools, but will it be enough to raise profits? hello and welcome to asia business report. i'm karishma vaswani. we start the programme injapan were foreign ministers from the group of seven major economies have gathered for a three day meeting. china and its assertiveness within the region is expected to top the agenda, along with the ukraine war. a business report this

morning as katie silver and she has been looking into this story for us and joins us on the programme live. it was great to get you on the show. what is your sense of the key things they're hoping to discuss and achieve at this meeting? figs discuss and achieve at this meeting?— discuss and achieve at this meetinu? a ., meeting? as you said, at the to of meeting? as you said, at the tap of the — meeting? as you said, at the top of the agenda _ meeting? as you said, at the top of the agenda is - meeting? as you said, at the top of the agenda is china. . meeting? as you said, at the | top of the agenda is china. we have seen it already. we heard, for example, last night there was a working dinner to kick off this three day event and by video link we heard from the top foreign policy chief of the eu, the high representative josep borrell. he is basically called on leaders of the g7 to put china and particularly its behaviour when it comes to taiwan as the major focus that they're going to discuss. he said for example that china is a competitor, a systemic rival, and a partner, and it is china's chose going forward to decide how it is considered and how the international community chooses to behave with it. as a three—day meeting between the foreign ministers and is being held in a resort town about two hours from tokyo and comes one

month before we see the leaders of the g7 meeting in hiroshima. as i mentioned, china and particularly taiwan after the events of last week are top of the agenda, last week we saw what was called a simulated encirclement by beijing by both air as well as see of the four different sides of taiwan. beijing sees taiwan as part of its territory and has not ruled out retaking it by force, taiwan for its part is democratically governed answers this is entirely integral to what it is. the difficulty here for these g7 foreign ministers is going to be navigating the political demands and the desire to come together in a concerted way with the economic demands which, for many, when it comes to china is wanting to continue and maintain trade. the us for its part has been one of the staunch objectors to china's growing power. but then we have seen some changing between their stances when it

comes to countries such as france and germany last week, we saw emmanuel macron the french president engaging in something of an economic charm offensive, that shows the ongoing battle between the economy and politics when it comes to dealing with china. indeed. a really delicate balance. a tricky one for countries to achieve. thank you forjoining us on the programme. katie silver there. some of the biggest banks in the united states have reported their results for the first quarter, jp morgan, citi group, and wells fargo's release earnings which beat expectations on friday. had been growing fears of the health of the financial sector since the reason banking turmoil. we will likely find out how other major lenders are faring later this week. earlier i spoke with issak poole from gloriana financial services, he told me that although the latest results look good earnings may have peaked. they are very good — earnings may have peaked. they are very good results _ earnings may have peaked. they are very good results for - earnings may have peaked. tie: are very good results for what are very good results for what are amongst the biggest banks in the us and we see there has

been some flight to safety from depositors who are looking to put their cash or bank they know will pay the back, that really has helped those big banks boost their net interest earnings and you saw that in the earnings numbers. i think looking out over the rest of this year it's quite likely that these big banks, and we will see some more this week, are experiencing, they are peaking in earnings, and if we look out over the rest of the year there are more storm clouds on the outlook that could be really challenging for the banking sector.— the banking sector. what are the banking sector. what are the storm — the banking sector. what are the storm clouds, _ the banking sector. what are the storm clouds, the - the banking sector. what are l the storm clouds, the pressure points, as you have called them. it points, as you have called them. , ., , points, as you have called them. , . , ., them. it is really getting down to the fact _ them. it is really getting down to the fact that _ them. it is really getting down to the fact that interest - to the fact that interest rates, the fed is fine —— fed funds rate and policy rate is at an elevated level, it is restrictive to the economy which will stay at an elevated level for some time, we will probably see another hike. that will exacerbate some of the deposit like we have seen so far, particularly from the smaller and medium—sized banks

that will result in slower credit growth for the us economy and all of this is coming at a time when the us economy is already slowing, is already trending towards recession. this is a scenario thatis recession. this is a scenario that is always challenging for the banks and so coming out through the first quarter we're going to those banks really try to guide earnings expectations, we're probably working towards negative earnings over the remainder of this year and probably the us economy as a whole. ., ., , probably the us economy as a whole. . .,, , ~ whole. that was issak poole from the — whole. that was issak poole from the oriana _ whole. that was issak poole from the oriana financial - from the oriana financial services firm. india's largest private bank reported a 20% jump private bank reported a 20% jump in net profit for the quarter ending march. for more on how the banking sector is doing we cross to my colleague who joins doing we cross to my colleague whojoins me now from mumbai. great to get you back on the programme. we have been listening how the banking sector in the us is doing. what are these results tell us, do

you think, about the health of the banking sector in india? earnings were strong although they even disappointed some of they even disappointed some of the analysts were expecting an even performance, more than a 20% net profit was being anticipated. it's all come on the back of a good net interest income, which is the difference between the interest that the bank owns versus what it expands. bank owns versus what it exoands-_ bank owns versus what it exands. �* ., bank owns versus what it exands. ., ., expands. and also expansion of the loan growth _ expands. and also expansion of the loan growth to _ expands. and also expansion of the loan growth to rural - expands. and also expansion of the loan growth to rural retail i the loan growth to rural retail and commercial loans they have grown. but also the bank back of a clean balance sheet as most indian banks have been able to clean up their balance sheets and reduce the amount of non—performing assets and that's the reason why most analysts expect that the banking earnings in the last quarter, the january— march quarter, the january— march quarter, for most indian banks is going to be healthy. and also because the balance sheet is clean and there is more

stability in the banking sector there will be (indistinct) from there will be (indistinct) from the impact of what's happening, let's say this was a little the us as far as the global banking turmoil is concerned. that was also the word coming in from the reserve bank of india governor during the sidelines of the imf spring meetings where he said that the financial stability and the banking stability in india, we keep it insulated from the bible turmoil.— bible turmoil. fascinating stuff, archana _ bible turmoil. fascinating stuff, archana shukla, . bible turmoil. fascinating - stuff, archana shukla, thanks for your analysis there. the value of the global cosmetics industry is estimated to be a whopping 90 x it billion us dollars by 2030. the majority of the growth is expected to come from right here, the asia—pacific region. with the digital world already reshaping the way we live, brands are increasingly using to to immerse customers in their portfolio of products. will that translate into more sales? my that translate into more sales? my colleague has been finding out.

lights, camera, action. but make it ai. in the world of beauty personalisation is the latest trend. and brands are turning to technology to deliver. there will�*s largest cosmetic company is investing heavily in abbott and gauges and asia is proving to be a fertile testing ground. this is a reuion fertile testing ground. this is a region with _ fertile testing ground. this is a region with 3 _ fertile testing ground. this is a region with 3 billion - a region with 3 billion consumers, very young, genzon, millennials, overi26 consumers, very young, genzon, millennials, over 126 billion people in in this part of the world. these consumers are hyper— connected, very digital, becoming more affluent, they tend to spend more on beauty products. tend to spend more on beauty roducts. , ., tend to spend more on beauty products-_ products. many of the tools available — products. many of the tools available on _ products. many of the tools available on the _ products. many of the tools available on the market - products. many of the tools | available on the market rely products. many of the tools . available on the market rely on artificial intelligence augmented reality. app on e—commerce platforms that let you try on make up virtually. devices that use algorithms to recommend skincare or foundation shades or ask how you are feeling to customise perfume according to your mood. or what about a device that makes us lipstick according to what you are wearing?

i'm going to try to find a shade that matches this out it. so a have to click here. and take a photo of myself. the smart technology generates shade recommendations depending on the colour harmony of your clothes stop then sends signals to the device which blends and dispenses a bespoke lipstick shade within a few seconds to finish your look. i'm quite happy with that. in asia, sales are beauty products have rebounded strongly after the pandemic and inflation is not curbing spending product too much according to cansdell. but the insights firm says customers are keen to try new ways of buying cosmetics. some employers _ ways of buying cosmetics. some employers are — ways of buying cosmetics. some employers are really _ ways of buying cosmetics. some employers are really inclusive. l employers are really inclusive. zoe is a beauty and disability influence are based in singapore. the traditional shopping experience has always been a challenge for her.

because they don't have the function of all my fingers it is extremely hard for me to actually pick up make up and trade on. actually pick up make up and trade om— trade on. inclusivity is the next frontier _ trade on. inclusivity is the next frontier for _ trade on. inclusivity is the next frontier for l'oreal. i trade on. inclusivity is the | next frontier for l'oreal. is launching there will�*s first hand—held computerised make up applicator, designed for users with limited hand and arm mobility. 50 with limited hand and arm mobility-— with limited hand and arm mobili . , , , mobility. so many times they have followed _ mobility. so many times they have followed just _ mobility. so many times they have followed just because i mobility. so many times they l have followed just because i'm disabled i might not be as beautiful enough for society and i think make up a beauty can make me feel that and i hope i am considered and everyone else in my community is considered when these technologies are going to be launched. technologies are going to be launched-— technologies are going to be launched. �* . , , launched. beauty may be in the e e of launched. beauty may be in the eye of the _ launched. beauty may be in the eye of the beholder, _ launched. beauty may be in the eye of the beholder, but - eye of the beholder, but technology is one way for the beholder to feel both included and immersed in the shopping experience. that is such a great report,

isn't it? that brings us to the end of asia business report at the cell. thank you so much for joining me. tuesday stay with bbc news and i will stay with you tomorrow. —— do stay with. reading. is not something that comes easy for everyone and for 35—year—old aaron it's been a struggle. i 35-year-old aaron it's been a stru: ule. .,, 35-year-old aaron it's been a struggle-— struggle. i was really scared, i've felt embarrassed, - struggle. i was really scared, i've felt embarrassed, quite l i've felt embarrassed, quite silly, if i'm honest, but now that i'm as far as what i am i'm proud of myself doing it. twice a week aaron has a session with coach and who helps him break down big and complicated words. this helps him break down big and complicated words.— helps him break down big and complicated words. this is how the g is pronounced. _ the g is pronounced. legislation. and he's doing this for one very special person. i this for one very special person-— this for one very special erson. ., ., this for one very special erson. . . .,, person. i have a little girl as she likes —

person. i have a little girl as she likes me _ person. i have a little girl as she likes me to _ person. i have a little girl as she likes me to read - person. i have a little girl as she likes me to read books. person. i have a little girl as i she likes me to read books and stuff like that, never big, ben and holly. because they couldn't read properly eye sees the opportunity to learn how to read better. the opportunity to learn how to read better-— read better. and, a retired seech read better. and, a retired speech therapist, - read better. and, a retired speech therapist, wanted | read better. and, a retired. speech therapist, wanted to read better. and, a retired - speech therapist, wanted to use the skills to help people like aaron. i the skills to help people like aaron. ., the skills to help people like aaron. . ., , ., , aaron. i am in of the people, because _ aaron. i am in of the people, because they _ aaron. i am in of the people, because they are _ aaron. i am in of the people, because they are so - aaron. i am in of the people, because they are so brave i aaron. i am in of the people, because they are so brave to | because they are so brave to start it in the first place and hold their hand up and say i need some help. the hold their hand up and say i need some help.— need some help. the bbc's learnin: need some help. the bbc's learning to _ need some help. the bbc's learning to read _ need some help. the bbc's learning to read a - need some help. the bbc's learning to read a 51- need some help. the bbc's learning to read a 51 also i need some help. the bbc's i learning to read a 51 also had quite the impact on people and reading groups in this went from six in 20 21 to 15 by the end of 22. there is one more thing aaron wants you to know. i can do it, anybody can do it.

three, two, one! we have lift—off! the blue plug on is the filming

in brighton and hove of the seminal mod movie quadrophenia. actor phil daniels started asjimmy in the film. very proud. yes, to have a plaque after all those years. and that film meaning something, so... did you think it would have the cultural significance it's had? not really, no, ijust got up one morning went to work and did my bit. and quite amazing what happened to it. quadrophenia charts jimmy's story. local mods he's into sharp suits, the most modern soul and pop music, and scooters. totally different to the rockers who like motorcycles, leatherjackets, a 1950s rock �*n�* roll music. the film means an awful a lot to those who've braved the rain to come here today. i am from hamburg and i've come all way here to be here when the plaque is being attached to the wall. it's really special and everybody has been really lovely, so it's fantastic. and brighton love it as well.

when the mods first burst onto the early 1960s, who would have thought they would still be going strong and their cultural significance recognise all these years on? hello. welcome to sportsday. i'm lizzie greenwood—hughes at the bbc sport centre. coming up on the programme: arsenal drop points at west ham to put a big dent in their premier league title hopes. andre rublev aces in monte carlo — for his first masters 1,000 win. and snooker history at the crucible, as neil robertson makes two 146 breaks at the world championship. hello and thanks forjoining us. here's your latest sports news: we start with football and potentially crucial dropped points for arsenal in their quest for a first

premier league title in nearly 20 years.