is the worst over four big tech? alphabet and microsoft beat expectations despite the downturn in the tech sector. and we delve deep intojoe biden�*s economics no guard as a present asks for more time to finish thejob. does —— scorecard. high. welcome to asia business report with me, mariko oi. we begin with the financial result of two us tech giants, google�*s parent company, alphabet, and

microsoft both unveiling quarterly report cards beating expectations. shares alphabet jumped after hours as the company announced that its scored a seven —— quarterly revenue rose to $69 billion. it's stock in microsoft got a britain extended trading with quarterly revenue mainly driven by growth in its clad competing businesses. dan ives is senior equity analyst at wentworth securities and says these are welcome news for the tech sector. ,, ., welcome news for the tech sector. , , ., ., ~ sector. some sunshine in a dark environment. _ sector. some sunshine in a dark environment. this _ sector. some sunshine in a dark environment. this reflects - sector. some sunshine in a dark environment. this reflects the l environment. this reflects the muscles moment for big tech in terms of what we saw from alphabet and microsoft, both on cloud and digital advertising. markets will be focused on this tomorrow. markets will be focused on this tomorrow— tomorrow. the hottest thing at the moment — tomorrow. the hottest thing at the moment appears _ tomorrow. the hottest thing at the moment appears to - tomorrow. the hottest thing at the moment appears to be - tomorrow. the hottest thing at the moment appears to be al, | the moment appears to be ai, but is the market share for google at risk?— but is the market share for google at risk? this was a sigh of relief in _ google at risk? this was a sigh of relief in terms _ google at risk? this was a sigh

of relief in terms of _ google at risk? this was a sigh of relief in terms of what - google at risk? this was a sigh of relief in terms of what we i of relief in terms of what we see on the ai front in terms of barred and ultimately focused on what google is trying to do. —— bard. there is definitely a game of thrones going on in al but google has all hands on deck despite the fact that microsoft leads it. there is gold at the end of the rainbow for big tech, google included. there were reports that some could be considered in switching default browsers to bing on samsung from google. the google, they are at the top of the mountain, but chatgpt is a threat. what is it me for enterprise and market share? digital advertising and the overall business, it feels like there is some stabilisation of swirling macro, and this is a big sigh of relief for investors in terms of what we see in big tech.—

investors in terms of what we see in big tech. what about 'ob cuts? is see in big tech. what about 'ob cuts? .s the fi see in big tech. what about 'ob cuts? is the pain i see in big tech. what about 'ob cuts? is the pain over? i see in big tech. what about 'ob cuts? is the pain over? it see in big tech. what about job cuts? is the pain over? i think| cuts? is the pain over? i think 70 or 8096 _ cuts? is the pain over? i think 70 or 8096 of— cuts? is the pain over? i think 70 or 8096 of the _ cuts? is the pain over? i think 70 or 8096 of the cuts - cuts? is the pain over? i think 70 or 8096 of the cuts are - cuts? is the pain over? i think| 70 or 8096 of the cuts are over 70 or 80% of the cuts are over but these tech companies have cut costs, they have cut cost significantly and we see that ahead. investors want to see them rip the band aid off and i think it is put a bottom on these stocks, including amazon, meta and other.— meta and other. shares and first republic _ meta and other. shares and first republic have - meta and other. shares and first republic have fallen i meta and other. shares and i first republic have fallen 5096 first republic have fallen 50% as investors question its future. the falls came a day after the bank said customers have pulled more than $100 billion from their accounts during last month's banking panic. first republic had been seen as one of the bank's most at risk of failure after a series of bank collapses raise fears of a crisis in the sector. —— banks. and the banking crisis has been one of several economic challenges faced by the us presidentjoe biden since taking office and now that he has confirmed he

has signed up to staff of the democrats in the next presidential election, it is a good time to look back at how he has done so far on the economic front. here is michelle fleury.- economic front. here is michelle fleury. joe biden's real action _ michelle fleury. joe biden's real action comes _ michelle fleury. joe biden's real action comes as - michelle fleury. joe biden'sl real action comes as america michelle fleury. joe biden's - real action comes as america is navigating some pretty uncertain economic waters whether us president can gloat is on thejobs whether us president can gloat is on the jobs front. look at this chart. employment is rising nicely until the pandemic, when thejob market created. sincejoe biden took off as it has steadily increased. under his watch, over 12 one half millionjobs have been created. the employment rate is at a 50 year low. —— the unemployment rate. the context in which these were created, in the middle of a pandemic, policies his administration put in place often the economic blow of covid—19, but the bounceback has been far from smooth. the worst economic metric on his watch has been inflation. this chart shows it pretty steady

until 2022, when it hit the highest rate in a generation over that summer, because as the us economy emerge from it struggled with supply chain issues that pushed up prices and that strong jobs growth that we talked about contributed to the further price pressure. inflation is now ticking down but it is still above the federal reserve's 2% target, posing an outstanding wrist to the boat and economy and one which the white house has very little influence over. —— biden economy. joe biden needs voters to credit him for that as the economy, while ignoring the lows as he requests and raising of the low ceiling. he lows as he requests and raising of the low ceiling.— of the low ceiling. he claims to be transforming - of the low ceiling. he claims to be transforming the - of the low ceiling. he claims to be transforming the us i to be transforming the us economy, bringing new life to left behind manufacturing areas in the famous rustbelt of

america. underthe in the famous rustbelt of america. under the inflation reduction act and other infrastructure plans the us is now pouring hundreds of billions of dollars of public money into the green industries of the future. but the sheer scale of the investments are so big that allies such as the eu and the uk are now concerned that it will threaten jobs in their economies. faisal islam has this special report from kentucky. in the fields of west kentucky, the farms are giving way to a different type of green harvest. the spades in the ground, the excavators are shifting tons of soil, the united states of america is digging for victory in the green, high—tech industries of the future. and they are in a hurry. the future. and they are in a hur . ~ ., the future. and they are in a hur . ~ . ., , the future. and they are in a hur. . hurry. we are literally shovel read to hurry. we are literally shovel ready to go _ hurry. we are literally shovel ready to go with _ hurry. we are literally shovel ready to go with our- hurry. we are literally shovel ready to go with our project i ready to go with our project when we receive the support in the us government. it really is like the gold rush. this is, you know, it's so big.

this work started here at the ascend elements facility for electric vehicle battery parts the day after $500 million of government money was granted from their infrastructure plans and the new inflation reduction act. buyers of cars will also get subsidies — only if they are made in america. the lithium, the cobalt and the nickel... the result is that these powders, the most expensive ev battery inputs, almost entirely made in china, up until now, will, thanks to recycling old batteries, be made in america, and here they say the us has leapfrogged europe, second only to china in this market. this is no less than a total transformation of the us economy with thousands of projects like this funded by trillions of dollars of public money, in order to wrest control of the industries of the future from china. but it could also be the start of a giant carve—up of globaljobs in those industries, because european governments are very worried that european manufacturers are also having their head turned and are setting up shop

here in america now too. so the eu is going to do exactly the same thing, which raises very serious questions for the united kingdom — whether to follow suit, whether we can afford to follow suit, or whether it is just too late. if the uk is going to compete with what is happening here in the us, you know, a similar level of incentives or favourable legislative environment or framework needs to be put in place. and so that has not taken place yet, but it certainly could. this facility is focused on electric vehicle battery inputs, but a similar strategy is at work for microchips and for green energy. indeed, the pylon servicing this facility transfers electricity from clean hydroelectric dams on the tennessee river. here comes the outline of the tennessee valley... in an echo of us history, those tennessee valley authority dams were one of the landmark developments 90 years ago of roosevelt's new deal.

he had in mind the tremendous national investment... but now, as then, the primary motivator here is not the environment, butjobs in left—behind areas. when they shut this mine down, and you see, this isjust one of 100 mines that they shut down here in western kentucky. these coal areas of the usa have been long left behind and notjust because of the transition to green energy. a rtefa cts artefa cts of a artefacts of a lost era. so these massive investments are being channelled by the biden white house very purposefully into regions such as west kentucky, a green form of america first. in some cases, old miners are being paid their union wages actually to fill in the mines and prepare the new green industry factories.

the hope that the rust belt can turn into a battery belt, what does that make you think? for its decision to do business with jeffrey epstein. for its decision to do business withjeffrey epstein. there was red giant was the frame to deflect blame from its own failures and use him as a public relations shield. it comes asjpmorgan is fighting claims that facilitated self travelling byjeffrey epstein, travelling by jeffrey epstein, his travelling byjeffrey epstein, his client in 1998 to 2013. the bank has denied responsibility. and before we go, let's quickly turn our attention to one of the largest cigarette makers in the largest cigarette makers in the world, british american tobacco, which is paying $635 million plus interest to us authorities after its subsidiary admitted to selling cigarettes to north korea, in violation of sanctions. the boss of bat says they deeply regret the conduct. the us has

imposed severe sanctions on north korea. that is it for this division of asia business report. thank you so much for watching. —— for this edition. these photographs mark a significant point in a hurry�*s quest to climb mount everest. —— harry's. harry has overcome a great many obstacles and what had been a journey of mental and physical endurance. it is certainly a

long way from his home in canterbury and says he can't wait to reconnect with his loved ones again. with prosthetics designed specifically for the climb, it will take harry three days longer than other climbers to scale mount everest. hi, i'mjuliet hi, i'm juliet with the catch up. joe biden has announced he will run for re—election in 2024 and

that might mean we could see another run between him and donald trump. we had been dropping hints but things were made official today when he launched a campaign video. vice—president kamala harris will run alongside him again. at 80 years old he is already the oldest president in american history. he would be 86 afterfinishing american history. he would be 86 after finishing another full term. some other stories, and sunday's emergency alert didn't reach one in five compatible smartphones in the uk, according to the government is set overall it was a successful test. it was the first nationwide trial of a new system that is said to want people about dangerous events like floods or terrorist attacks. if you phone was turned off or an aeroplane mode you wouldn't have received it. tottenham hotspur players have offered to reimburse fancy costs of their match tickets after they lost 6—1 to newcastle united on sunday. after 21 minutes of gameplay,

the were down 5—0. christians delaney was acting as interim manager but has sacked. and pop singer grimes has asked musicians to clean her voice using artificial intelligence, offering a 50% royalty on any success, saying they can feel free to use a voice without penalty. becomes an interesting time because universal music have just asked for time because universal music havejust asked for a time because universal music have just asked for a song to be removed from streaming platforms which used vocals from their artists drake and the wknd which were actually deepfakes. you are all caught up.

hello, i'm olly foster. here's what's coming up on sportsday: jamie vardy rescues a point for leicester at leeds, but they both needed more than a draw. we've reached the quarterfinals at the world snooker championship and o'sullivan holds a four—frame lead against brecel. and though their wimbledon bans have been lifted, russian and belarusian players have been given strict guidelines for the grand slam tournament. hello and thanks forjoining us.