us lawmakers wrap up a face—to—face meeting , with no signs of being any closer to breaking a deadlock on the debt ceiling. goldman sachs agrees to pay more than $200 million to settle sex discrimination claims with thousands of women. hello and welcome to asia business report. i'm karishma vaswani. "good news and bad news", that was the verdict chuck schumer, the democratic leader of the senate, gave to a meeting which has wrapped up just over an hour ago. top us lawmakers met for about an hour in the oval office, trying to find a way out of a potential debt default. but no agreement was reached.

here's what the leaders of both sides had to say following the high—sta kes meeting. we meeting. agreed to continue our discussions we agreed to continue our discussions and we will meet again on friday. in the meantime our staff will meet today and daily between now then and everyone in the meeting understood the risk of default. our economy would fall into a significant recession and it would devastate retirement accounts, increase learning costs, according to reports nearly 8 million americans would lose their jobs. americans would lose their “obs. , ., , jobs. everyone in this meeting reiterated _ jobs. everyone in this meeting reiterated the _ jobs. everyone in this meeting reiterated the positions - jobs. everyone in this meeting reiterated the positions they l reiterated the positions they were — reiterated the positions they were at _ reiterated the positions they were at. i did not see movement. the president said staff— movement. the president said staff would get back together and i — staff would get back together and i was clear to the president. we have two weeks age _ president biden also said that it was �*possible' he might call off his trip to asia if there is no breakthrough on the debt.

ryan sweet is the chief us economist at oxford economics — i spoke to him a little earlier and he says he's not surprised no deal was reached. this is going to be a game of political chicken. there was see which side bends first because both the root republicans and democrats recognize that reaching the debt ceiling for it this sustained basis is economically catastrophic and would be politically very damaging. when ou talk politically very damaging. when you talk about _ politically very damaging. when you talk about how— politically very damaging. when you talk about how damaging i politically very damaging. when you talk about how damaging it is both for the economy and politics, it begs the question what will it take to get to a deal? is there any sense of how we might get to one in the next few weeks?— we might get to one in the next few weeks? so, as an economist incentives _ few weeks? so, as an economist incentives matter. _ few weeks? so, as an economist incentives matter. one - incentives matter. one incentives matter. one incentive is if you start to see more of a reaction in financial markets, not only in the us but globally. i have been surprised we haven't seen more of a reaction in the us equity markets but playing out

as script, we have seen treasury bill rates that mature right around the drop—dead date of the debt ceiling have risen. corporate bronze have whitened out and equity markets selling off. we see brother signs of concern did financial markets and that would like if they are under the republicans and democrats to come to agreement and if the debt ceiling. we have seen this movie before. it's a bad movie and we know how it ends and ultimately there was raise or suspend the debt ceiling, most likely at the 11th hour. i debt ceiling, most likely at the 11th hour.— debt ceiling, most likely at the 11th hour. i like the movie analo: the 11th hour. i like the movie analogy so — the 11th hour. i like the movie analogy so fil— the 11th hour. i like the movie analogy so i'll take _ the 11th hour. i like the movie analogy so i'll take it - analogy so i'll take it further. we know how the movie ends and when we get it and there's a bit of fatigue that fills in. how much of an impact does not have a longer term on the us economy and us companies in terms of confidence around the world?— the world? personally, ithink the world? personally, ithink the debt ceiling _ the world? personally, ithink the debt ceiling is _ the world? personally, ithink the debt ceiling is futile. - the world? personally, ithink the debt ceiling is futile. it. the debt ceiling is futile. it doesn't really serve a purpose. it is more of a political

football that they pass back and forth to try and push one party or the other towards an agreement on spending cuts or other policy or legislation changes that they want. from an economic perspective it does not rein in government spending. think of it as a credit card. this isjust spending. think of it as a credit card. this is just the governments credit card limits and they need to be up to raise it to pay or surpass government spending. this is not about future government spending. the civilizations that have been done with the oxford economic model, there are large—scale government spending cuts if there are any which the republican propose, it will do economic damage. it was shave points of gdp and economy would suffer at a time when it is vulnerable to anything else that goes wrong.— vulnerable to anything else that goes wrong. ryan sweet from oxford _ that goes wrong. ryan sweet from oxford economics. -

goldman sachs has agreed to pay 200 and 15 million dollars to settle claims that it discriminated against women — by offering female staff lower pay and fewer opportunities. the agreement comes a month before the long—running class—action lawsuit was due to come to trial. it resolves claims from almost 3000 female staff who worked at the investment bank in the us. the disputes stretch back to 2010. this deal draws a line under a class action lawsuit that accused the bank of discriminating against female employees for over a decade in areas of pay, promotion and performance evaluation. the trial was due to begin next month. goldman sachs said after more than a decade of vigorous litigation, both parties have agreed to resolve this matter. in a statement, plaintiff allison gamba said i am proud advance gender equity. now the $215 million settlement will be divided among roughly 2800 women employed in various divisions of goldman sachs.

breaking the numbers down once you strip out the legal fees. it comes to less than $50,000 per plaintiff. now, on top of the cash that goldman sachs is paying. the bank will work with outside experts to analyze its pay patterns and methods of promotions. this is the latest effort by wall street to address unequal and unfair treatment of female workers. back in 2007, morgan stanley settled a lawsuit for $46 million in which 2700 female employees accused it of discrimination over pay and promotion. that was michelle fleury. taiwanese electronics company and one of the major manufacturers and suppliers of iphones — foxconn has bought a massive piece of land on the outskirts of india's it hub of bengaluru. it is part of the companies big investment plans in india. the bbc�*s arunoday mukharji has more from new delhi. this piece of land measures around 1.2 million square meters and is worth $37 million. these details were revealed in a regulatory filing by the company at the london stock exchange.

and this is part of the company's larger diversification plans as it attempts to move away its production lines from china and india has been on the radar for the company. we have reported in the past on foxconn's larger plans in the country to invest nearly $700 million on a new plant to boost production. the investment is believed to create around 100,000 jobs in the state of karnataka, and that's where the it city of bengaluru is located. the chairman of foxconn was in india in march this year and held several meetings with leaders, including prime minister narendra modi. india has been doling out incentives to four big companies to try and turn itself into a manufacturing hub and compete with china. foxconn has been making phones in india since 2019 at its big plant in the southern indian state of thumb. and in fact, apple and foxconn both have been looking to ramp up production in the country and try and capitalize and tap into the potential in india,

which is home to around 800 million smartphone users. arunoday mukharji, bbc news. australia government has announced a surplus. it is set aside almost tangible or over a four—year period to help ease the pressure of rising prices. the government had to walk the narrow path between rising inflation and interest rates. at the same time not putting too much money into spark more inflation that was see the central bank increase rates further. it was a balancing act and i think they largely got it right. in and i think they largely got it riuht. , ., ~' , right. in terms of the key priorities. _ right. in terms of the key

priorities, it's _ right. in terms of the key priorities, it's obvious - right. in terms of the key l priorities, it's obvious from the budget that an shoring household budgets stay intact and spending on key issues as well, like unemployment for instance. has that been a big focus in australia? it instance. has that been a big focus in australia?— instance. has that been a big focus in australia? it has been recently- _ focus in australia? it has been recently- we _ focus in australia? it has been recently. we haven't - focus in australia? it has been recently. we haven't seen - focus in australia? it has been | recently. we haven't seen very ungenerous unemployment benefits and they have been increased slightly. it still leaves those on those benefits well below the poverty line but with the reserve bank increasing or the central bank increase in and interest rates, they're predicting unemployment will rise. we are expecting another 140,000 unemployed people because of those higher interest rates. so, i think they had to do something around unemployment benefits. particularly at a time when they are great and trying to grow the unemployment to slowly situation down.— situation down. what do you make of the _ situation down. what do you make of the foreign - situation down. what do you make of the foreign policy i make of the foreign policy aspects of the budget? more engagements and more investment with pacific nations?— with pacific nations? assure

that, with pacific nations? assure that. over — with pacific nations? assure that, over the _ with pacific nations? assure that, over the last - with pacific nations? assure that, over the last five - with pacific nations? assure that, over the last five to i with pacific nations? assure l that, over the last five to ten years has disengaged somewhat from the pacific and this is a time when china has grown in influence and it's notjust about china. i sure they trying to re—engage with the pacific around peace building, infrastructure building, so it's good to see we are getting back into the region and helping out our closest neighbors in order to meet them stable, healthy democracies. in part as a hedge against china. that was matt grudnoff from the australia institute think tank speaking to me earlier about a should as incoming and some of its challenges as it navigates that tricky relationship with china and other regional neighbors. shares in airbnb fell 10% despite the company earning $117 million in the first quarter, thanks to the ongoing recovery in travel and a trend of more people working remotely.

and that's it for this edition of asia business report. thanks for watching. mags has raised eight guide dogs. spencer was with mags for more than a year, but covid restrictions prevented herfrom meeting his new owner, and he was desperate to meet her. terry quinn lost his eyesight four years ago and spencer has been his lifeline. the bbc programme reunion hotel contacted mags and made this moment happen. it was just amazing and spencer jumped all over me. he absolutely knew me. it isn't. i didn't know if he would. you never know if they will. but he did. after all that time. it was a very emotional meeting

for all three of them. to think that i was worthy to have him. i knew what i'd brought spencer up for. but you don't really take it to heart. he means the world to me. but mags refuses to take any credit for raising spencer. the rewarding part was actually doing it because it's just such fun. the guide dogs community are amazing. an operation stopped mags from continuing her work with guide dogs, but she's now training to read her cover to with guide dogs, but she's now training to ted to become a therapy dog and hopes to take him into hospices. hey, i'm zoff with the catchup, tonight. lip fillers gone wrong, mortgages for young people and cows on the loose. so we probably all know someone who's had their lips done. but there's been calls from experts for tighter regulations on lip fillers after some treatments

have gone wrong. they've grown increasingly popular, but many patients have been left in pain and embarrassed by their appearance. harriet had hers done, and three months later her lips were so bloated she couldn't close her mouth properly. other stories, a bbc investigation has found the number of tennants in the west midlands being given no fault evictions is at the highest level for five years now. this type of eviction allows landlords to get rid of tenants with no reason. one 27—year—old renter in birmingham told us that she was issued a no fault eviction a few weeks after complaining about mold in the house. there's actually a bbc three documentary on iplayer at the moment called evicted, which explains these issues in more depth. a deposit free mortgage scheme aimed at young people currently renting has been launched by uk building society.

skipton. this basically means you could get a deposit just by proving you've paid your rent on time for 12 months. so basically this doesn't require you to put an actual deposit down to secure a property. and time now to leave you with 10 seconds of some cow madness. yeah, you did hear that right. a herd of cows escaped in marlow and took a mini tour of the town centre over the bank holiday weekend. imagine that, right? you've got a bit of a bank holiday hangover. your heads a little bit sore and there's just 35 cows chilling outside your bedroom window. no, thanks. have a good night.

hello, i'm marc edwards, from the bbc sport centre. coming up on this programme... manchester's main man with a touch of magic in madrid. de bruyne grabs a draw for city in the champions league semi final first leg with real..... a huge moment in athletics — as the first man is charged with supplying performance enhancing drugs to athletes, including the banned nigerian sprinter blessing okagbare. and — controversy at the madrid open....accusations of sexist ball girl outfits and the silencing of women's finalists