and disappeared. decision time at the fed, we take a look at the us economy and whether there's need for a change in policy. and... we'll have the latest on china's long labour day break and the revival of chinese tourism. hello and welcome to asia business report. i'm karishma vaswani. our top story today: will the us federal reserve raise rates one more time? or will it take a break? as the fed meets to decide whether to raise interest rates again, rising prices aren't their only worry. the turbulence at first republic this week has revived worries about credit conditions.

another area of concern is the labour market, which while still strong is showing signs of cooling. so what will america's central bank do and say? the bbc�*s michelle fleury reports from westchester, new york. losing momentum after nine rate hikes in the past year. the federal reserve�*s efforts to cool the us economy are having an effect. this is a chain that you'll see on like roller shades and vertical blinds. something bill, who runs a family owned manufacturing business in westchester, new york, is seeing first—hand. right now, we're expecting some softness in the marketplace for probably six months or so. we're seeing a lot of softness in the marketplace as far as demand the commitment in terms of like long term blanket orders with customers. we're not seeing that either right now.

so we're having some challenges with that. american businesses are pulling back on spending and hiring. the housing market is slowing both areas sensitive to changes in interest rates. and more pain may be coming. america's central bank was tipped to raise rates again this week in what was expected to be its last hike for a while. but after the collapse this week of first republic bank, some are speculating it may already be done with the fed having to manage inflation growth and now financial stability concerns. slowing the economy too much could lead to a recession. and with inflation moderating and problems with us regional banks still unresolved, america's central bank may feel that after this week, it's time to hit pause to see if after nine rate hikes, they've done enough. one thing they will be watching the cost of food. while products like eggs have come down in price, they remain historically high. one us economist says the inflation

fight has yet to be won. i don't think the inflation battle is over, but we are in a situation in which we're seeing gradual disinflation. so inflation is slowing and we're also in an environment where interest rates are high and elevated and therefore constraining business activity, which should lead to further disinflation in the coming months. so darren mentioned the r word. fear of a recession is very much present in the economy today, and the political risks are growing, too. president biden and republicans in congress are on a collision course over raising the debt ceiling, the limit on how much the us can borrow. failure to do so would not only inflict economic pain here, but also on the rest of the globe. michelle fleury, bbc news, westchester, new york. staying with central bank decisions. the reserve bank of australia raised its key rate on tuesday. the move stunned the markets and analysts who were expecting an extended pause. australia's central bank said inflation was way too high

and warned that there could be further rate hikes. the bank's governor acknowledged that inflation is now past its peak, but it will take awhile for it to fall back into the bank's target range of two to 3%. in china, it's the last day of an extended time off. a one day labour day holiday observed in many countries is actually a five—day break in china. it's the first ultra long weekend since the spring festival injanuary and authorities had forecasted increased travel across different modes of transportation. for clues on how this tourism revival will help prospects for the world's second largest economy, let's bring in raymond cheng from standard chartered. great to get you on the show. what is your sense of how the taurus revival is going and how that might help to boost china's economy? we have help to boost china's economy? - have seen very strong domestic taurus traffic across the board and

whether you look at in terms of the number of trains that have been operating, single deal rail tickets as well as domestic taurus sites. whether that has translated into strong consumption remains unclear because there've been anecdotes of some consumers trading down during the season and when we look at the movie box office as another example, we also see slightly weaker than forecast activity as well. so, we continue to keep a close eye but all in all it very strong traffic numbers and domestic travel is much stronger than international travel. probably because of aircraft and crew availability remaining limited at this point. crew availability remaining limited at this point-— crew availability remaining limited at this oint. ., . ., at this point. how concerned are you are about unemployment _ at this point. how concerned are you are about unemployment rates? - are about unemployment rates? particularly amongst the youth. how is that connected with those

consumer figures you were talking about? , ., , ., , about? great question. unemployment rate has been — about? great question. unemployment rate has been quite _ about? great question. unemployment rate has been quite high, _ about? great question. unemployment rate has been quite high, as _ about? great question. unemployment rate has been quite high, as high - about? great question. unemployment rate has been quite high, as high as - rate has been quite high, as high as around 20% for the younger demographics. i think this will certainly put a blip on consumption growth for the country. that is now heavily reliant on consumption to drive gdp growth this year. for the time being, we continue to see the younger generation spending but as opposed to the trend of spending up, there are increasing signs of trading down by our young consumers. so, i think this certainly would have some negative implications on long—term consumption outlook for china and chinese authorities are paying close attention to it during a meeting last friday, we heard news

of the authorities trying to boost employment of the younger demographics by their own advices. so hopefully that development with improve our overall concentra and for the country.— for the country. briefly, what is our for the country. briefly, what is your outlook— for the country. briefly, what is your outlook for _ for the country. briefly, what is your outlook for the _ for the country. briefly, what is your outlook for the chinese . for the country. briefly, what is - your outlook for the chinese economy in terms of growth this year? we your outlook for the chinese economy in terms of growth this year?- in terms of growth this year? we are cautiously optimistic _ in terms of growth this year? we are cautiously optimistic on _ in terms of growth this year? we are cautiously optimistic on the - cautiously optimistic on the countries gdp outlook. we do think that there is a chance for the country to exceed the official gdp growth target of 5%, meaning driven by consumption. also, measures to boost private investment as officials are very focused on improving the environment to foster development by the private sector in terms of investment. so, we believe that it would likely at around 5.5%

raymond cheng from standard charter thanks forjoining us. zooming in on the earnings season in corporate america... starbucks beat wall street estimates for profits and comparable sales in the quarter ending in march. the us coffee giant saw a 7—percent increase in global sales, which were helped by the economic recovery in china we've been telling you about. as starbucks�* second biggest market, china has been very important for the company but competition for its market—share in the asia—pacific region is growing. to help us understand the retail coffee chain landscape, let's bring in nathanael lim, an insights manager, at euromonitor international for more. good to get you on the programme, i don't know how much of my previous interview in terms of chinese economic recovery or listen to, but how important is that in terms of coffee chains and their ambitions to enter the chinese and beat the players like starbucks, for instance? i

players like starbucks, for instance?— players like starbucks, for instance? ~ ., ,, ., , ., instance? i think for starbucks and international _ instance? i think for starbucks and international chains _ instance? i think for starbucks and international chains coming - instance? i think for starbucks and international chains coming in - instance? i think for starbucks and international chains coming in that i international chains coming in that it is a very big market to play with. especially with the restrictions lifted off in recovery. there is a lot of potential and growth, especially in various cities in china. in growth, especially in various cities in china. , ., , ., ., , in china. in terms of the standouts that ou in china. in terms of the standouts that you are _ in china. in terms of the standouts that you are looking _ in china. in terms of the standouts that you are looking at. _ in china. in terms of the standouts that you are looking at. bespoke i that you are looking at. bespoke coffee brands in asia that you think are doing particularly well right now around the region. are there any that come to mind that think these guys are winners? i that come to mind that think these guys are winners?— guys are winners? i think for instance in _ guys are winners? i think for instance in china _ guys are winners? i think for instance in china we - guys are winners? i think for instance in china we have . guys are winners? i think forl instance in china we have one organisation expanded into china and singapore as well so that strategy of bringing about great quality coffee is important as well as the price point as well as the local coffee favours such as coconut latte or other flavours. coffee favours such as coconut latte or otherflavours. this has

attracted consumers and the use of mobile apps providing convenience. you canjust go mobile apps providing convenience. you can just go down to the stall without take you and take orders. that was a fascinated look at the coffee chain landscape in asia, nathanael lim thank you forjoining me on the programme. great to get your thoughts on asia business report. and for ford motor co on tuesday posted robust first—quarter revenue and profit, thanks to strong demand for trucks and suvs, but issued a measured full—year outlook tempered by continued losses in its electric—vehicle unit. in a late briefing, ford chief executive officerjim farley said he hopes the company becomes "boringly predictable" at meeting farley also said ford does not intend to pursue ev sales volume "at any cost" — after the auto—maker earlier in the day slashed mustang mach e prices for a second time this year.

and that's it for this edition of asia business report. thanks for watching. at 91—years—old, norma deeves is cycling down familiar roads. as she pedals on this adaptive exercise bike, the screen takes her to beaumaris, where she grew up. this venture is all about getting older people moving and stimulating the brain. seeing her hometown, norma is reminded of the tradition of throwing hot pennies from a hotel balcony. the kids were going mad, you know, to get them first, to get them. were you good at getting them? not really, no. run by digital communities wales and supported by anglesey council, the project also bridges the gap between generations.

local sixth form pupils adapted four of these bikes as part of a one day technology challenge. they'll now be used in care homes across the island. we give them a blueprint of what they were, so basic exercise bike, but we've made modifications to it, implemented code, macro, like, little tiny computers to make it to where it can do what it does. it's another occasion to bring people together. people can talk about their background when they were growing up. that memory lane is always just a short ride away. hello i'm jack with the catch up tonight. more wrexham celebrations, the latest from the met gala and a very big surprise. but first, you might have seen that chat bot on snapchat

going viral recently. it looks like this and you can have a full on conversation with it. some people have found it pretty creepy. it follows others like chap gpt. while the man described as the godfather of a:i., geoffrey hinton, has quit hisjob at google, saying he regrets his work and has warned about how ai is used. given the rate of progress, we expect things to get better quite fast, so we need to worry about that. right now they're not more intelligent than us, as far as i can tell, but i think they soon may maybe. a quick look at the world of fashion there. not from me, from the met gala in new york. this year's event paid homage to the late fashion designer karl lagerfeld and his cat choupette. doja cat dressed up as a cat and jared leto also dressed up as a cat. lil nas x was a really sparkly cat, but even he couldn't take the spotlight away from this guy who gate—crashed the red carpet. not a cat.

some good news now and the celebrations continue. fans in wrexham are out celebrating the men's team getting promoted back to the english football league after 15 years. i'm going to leave you with 10 seconds of surprise. and that's exactly what this headteacher got after investigating a noise in a bin on his school grounds in the us. principaljames marsh said he and the bear were both equally surprised. unbelievable. see you later.

special coverage live from london where was getting coverage at of the coronation. this is the last few hours or so where police in london arrested a man outside buckingham palace after he threw a number of items expected to be shotgun cartridges into the palace gun. lots more on the bbc website butjust say the man was also found to be in suspicion of a suspicious bag and experts blew up in a controlled explosion as a precaution as we been

reported. there are no reports of injuries and a quarter and is in place as you can see there from the images they are on your screen the procession is getting under way. buckingham palace has said that neither king charles nor the queen consort were in residence at the time. this happening as we were saying, just days before the king would be crowned at westminster abbey on saturday. i want to show you live pictures of the scene right now. a reminder of what would be taking place this weekend. millions of people across the uk and beyond are preparing to celebrate the coronation of king charles iii. it's a symbolic ceremony that will combine a religious service and pageantry. it's been how that westminster abbey on the six of may and the king will be crowned along with camilla the queen consort, will be the 40th reigning monarch crowned their sins 1066. be the 40th reigning monarch crowned theirsins 1066. it be the 40th reigning monarch crowned their sins 1066. it would feature customs dating back to a thousand

years and here is how we are expected to unfold. i want to tell you that as we look on the rather grand scenes that are seeing right now and beautifully lets up shot of buckingham palace at about 11:1i5pm in the uk. the former celebrations would begin with the possession from buckingham palace to westminster abbey with viewing areas along the road opening early in the morning. public access to sites along the mall and whitehall would be on a first—come first—served basis with people directed to official screening sites in hyde park, green park and st. james is parked once they are full. we would have lots more for you on this in the coming hours of bbc news but for now let's leave that scene at buckingham palace and take you to the latest developments in sport today where you will hear from some of my

colleagues. hello, i'm qasa alom, from the bbc sport centre. coming up on this programme... the gunners fire themselves back to the top of the premier league table with a 3—1win over chelsea fifa president gianni infantino threatens a women's world cup �*broadcast blackout�* unless countries are prepared to bid more money and australia's star batsmen steve smith says he's in england to help his county sussex not prepare for the ashes hello and thanks forjoining us, here's your latest sports news arsenal have moved back to the top of the premier league after a 3—1 victory over chelsea at the emirates stadium to go two points clear of manchester city. the gunners — who hadn't won a match since first april — got back to winning ways thanks to a brace from captain

martin odegaard and brazilian striker gabrieljesus. noni madueke got one back for the blues after the break — only their second goal under caretaker manager frank lampard who has now lost six games out of six since taking over.. manchester city can return to the top with a win over west ham on wednesday. i saw everything that i want to see from our team. full the commitment, a lots of energy, quality, speed, movements, two beautiful goes. movements, two beautiful goals. and we connected with our crowd and created an incredible atmosphere. we wanted to and the right to the top of the leak again to the top of the league again and we are and we have to be happy with where we are but not accepting because it's not the end all and we want to achieve that. and of second half we played more like a _ and of second half we played more like a team — and of second half we played more like a team at the threat at the top end of— like a team at the threat at the top end of the — like a team at the threat at the top end of the page and click to. runs

from white — end of the page and click to. runs from white areas in central. in the first half_ from white areas in central. in the first half we — from white areas in central. in the first half we eased the pagans. meanwhile at the bottom of the league — leeds united are set to sack managerjavi gracia — and are in talks to bring in former england boss sam allardyce. allardyce, who worked with leeds chief executive angus kinnear at west ham — would become the fourth leeds manager this season. director of football victor orta has already left the club — with leeds now only the above the relegation zone on goal difference. gracia wonjust three of his 12 games in charge... thre are only four games of their season to go. it can't be any worse than what they've had in the past. results can't go worse and you see how many goals they've shipped in 2023 this april. horrendous. we need to sort out whatever issues we have in the dressing room and fight. like any other team would do on the pitch because at the minute were playing without any fight. are you still hopeful? were always hopeful. daft but hopeful.

liverpool managerjurgen klopp has been charged by the football association following comments after his sides 4—3 win over tottenham on sunday. klopp suggested referee paul tierney "had history" with the club. the fa alleged klopp's comments constitute "improper conduct". he has until friday to respond to the charge. paul tierney losing our games i'm sure he's not doing it intentionally but we maybe have a history and i can't deny that. i'm not there resentful person, not at all, these kind of things have happened in the past in decisive games with reason bugs are not, they happened. i don't think they're intentional but they are still there. so, it's a feeling. nothing else. that's what they said it. the referees are very angry about what i said and going forward i heard that i was lying and things

like this. stuff i never did. lionel messi has been suspended by paris saint—germain for two weeks — after the argentinian world cup winning star travelled to saudi arabia without his clubs permission. it is understood the 35—year—old asked psg if he could make the journey to carry out some commercial work in saudi — after psg's disappointing loss to lorient but his request was refused. messi will now not play or train with psg for two weeks — at a crucial time in the season as they are only five points clear with five games remaining la liga leaders barcelona require just five points from their last five games to wrap up the title in spain after a 1—0 win against 10—man osasuna at the nou camp. osasuna had jorge herrando sent off less than half an hour into the match but stayed organised and frustrated their opponentsuntil substitutejordi alba struck an 85th—minute winner. barca are now 1a points clear of their arch rivals real madrid after carlo ancelotti's

side lost 2—0 at real sociedad. madrid had dani carvajal sent off just after the hour mark. elsewhere almeria beat bottom side elche 2—1 fifa president gianni infantino has urged broadcasters to "put their action behind their words". or they won't show the women's world cup in the so called big five european countries. infantino says fifa want to have equal prize money for the men's and women's tournaments the latter of which starts injuly — and he says fifa won't sell the rights for it unless the offers improve from the uk, spain, italy, germany and france. broadcasters, especially public broadcasters, funded by taxpayer money should put their action behind their words because they, rightfully, criticise football organisations or other sports organisations for not paying equally women

and men or not having the same price manual. we need to generate the revenues and they should help us because otherwise we would simply not sell these rights at these undervalued prices to them. carlos alcaraz is through to the madrid masters quarter finals after stunning the man he beat in last year's final alexander zverev 6—1 6—2. the reigning champion needed just 83 minutes to get the win — hitting 21 winners along the way. the 19—year—old will play karen khachanov next — and will reclaim the number one ranking if he successfully defends his title. there was drama at the ipl as bottom side delhi capitals managed to upset top of the table gujarat titans to win by five runs. things started poorly for the capitals — who were 23—5 at one stage... but rallied to successfuly to post a total 130 for eight thanks to 51 from aman khan, they then defended it in a hectic finish — two wickets each from ishant sharma & khaleel ahmed as gujarat finished just short.

next month the cricketers of england and australia will resume their rivalry in the ashes. this month, steve smith, such a key part of the australian team, will play for sussex in england's county championship. he insists he's not at sussex in may simply to prepare for beating england. in fact — he told our correspondent joe wilson he has little left to learn about english conditions. you're looking for one of the most familiar faces you're looking for one of the most familiarfaces in the you're looking for one of the most familiar faces in the work wicked, stephen submitted one of australia's all—time greats. for the month of may he is here in sussex for the county championship. i’m may he is here in sussex for the county championship. i'm excited about coming _ county championship. i'm excited about coming over _ county championship. i'm excited about coming over here _ county championship. i'm excited about coming over here to - county championship. i'm excited about coming over here to play i county championship. i'm excited about coming over here to play a | county championship. i'm excited i about coming over here to play a few games and i'm looking forward to starting in a few days' time. and when people _ starting in a few days' time. and when people say _ starting in a few days' time. and when people say that you are here is a lovely warm up into the ashes and is a huge advantage where are giving to assure there is english wicked how we respond to that? it’s

to assure there is english wicked how we respond to that?- how we respond to that? it's my fourth time _ how we respond to that? it's my fourth time to _ how we respond to that? it's my fourth time to play _ how we respond to that? it's my fourth time to play and - how we respond to that? it's my fourth time to play and ashes i how we respond to that? it's my - fourth time to play and ashes series in england so, i don't think the conditions are too foreign to me. so there's nothing you need to learn? i hope not. i've been around for a while now and hopefully i've got it all in the kitbag and it is exciting to come out and play. i generally think that english _ to come out and play. i generally think that english cricket - to come out and play. i generally think that english cricket will - think that english cricket will benefit — think that english cricket will benefit from having the best players playing _ benefit from having the best players playing with our best young players. we have _ playing with our best young players. we have players here who want to play for _ we have players here who want to play for england and even ali robinson was played testament cricket — robinson was played testament cricket for england he said when we had the _ cricket for england he said when we had the opportunity he said with a -et had the opportunity he said with a get them — had the opportunity he said with a net them. ,, ,, .,, ., ., ., get them. steve smith was good for is a no in get them. steve smith was good for is a go in the _ get them. steve smith was good for is a go in the ashes, _ get them. steve smith was good for is a go in the ashes, scoring - is a go in the ashes, scoring more than and was despite being reminded by the crowd of the ball and then scandal which caused them the captaincy. do you expect more respect from the fans on the ground this year? i’m respect from the fans on the ground this ear? �* ., �* ., , this year? i'm not i'm not sure. that is up _ this year? i'm not i'm not sure. that is up to — this year? i'm not i'm not sure. that is up to each _ this year? i'm not i'm not sure. that is up to each friend. - this year? i'm not i'm not sure. that is up to each friend. it - that is up to each friend. it is

really faced me too much. i go about my business and block any noise out good or bad. i'm looking forward to it but some it's always great fun playing in england and good banter and it should be good fun. three matches for— and it should be good fun. three matches for sussex. _ and it should be good fun. three matches for sussex. six - and it should be good fun. three matches for sussex. six innings. what is your target? 5m} matches for sussex. six innings. what is your target?— what is your target? 500 runs, steve? i don't _ what is your target? 500 runs, steve? i don't set _ what is your target? 500 runs, steve? i don't set those - what is your target? 500 runs, steve? i don't set those kind . what is your target? 500 runs, | steve? i don't set those kind of targets. hopefully, three once for sussex would do me a i score some runs along the way and at the boys have some success. finally thousands of people in wrexham have been lining the streets of the welsh city to celebrate the men's and women's teams promotions. the men return to the to the football league after a 15 year absence; the women's side are promoted to the top tier of welsh football. the club's hollywood owners, film stars ryan reynolds and rob mcelhenneyjoined players and staff on the three buses as wrexham's fairy tale story shows no sign of slowing down. it's going to be another long night of celebration there. it is like a hollywood movie almost.

it's unbelievable, really. really unbelievable but onwards and upwards now hopefully. amazing the stuff that's only the word i can use to describe it, amazing. unreal. it's brilliant for the town, for the community, everything my it's amazing. with what they're going to bring in and the team they've got - they should do well next season. we'll go on, i think. because i know when we got promoted we got all the way to the championship. i think the club would be bigger and probably need another stand. you can get all the latest sports news at our website — that's bbc.com/sport. from me and the rest of the team at the bbc sport centre, goodbye.

welcome to newsday, reporting live from singapore, i'm karishma vaswani. the headlines... a man is arrested outside buckingham palace after throwing suspected shotgun cartridges into the grounds — police say they've also carried out a controlled explosion. good evening from me, for the time being, as i think that was probably a controlled explosion in the background. that's what it sounded like to me. we will no doubt find out later, but i assume as it's happened, do they need to still to evacuate? because that's now been and gone. they still need us to evacuate. a special report from an afghan hospital — where children are dying from preventable and curable diseases. when i saw his mother sobbing, it broke my heart. it hurts my conscience. we don't have equipment

and train staff. there is nothing we can do but watch babies die.