country's run—off election. hello and welcome to asia business report. us president joe biden and speaker kevin mccarthy say they have come to a deal, in an agreement to raise the debt ceiling. after weeks of bitter negotiations. now both sides need to convince members of congress in their own parties for the legislation to be approved. the bill is seen as a compromise by some members of both parties, and have been criticised by hardline republicans and ha rdline republicans and progressive hardline republicans and progressive democrats. this is president biden addressing journalists a short time ago. we have reached the bipartisan agreement and now we are ready to move to the full congress. i think it's a really important step forward. it takes the threat of catastrophic default off the table and protects our hard earned and historic economic recovery. it also represents a compromise that

gives no one everything they want, but that's the responsibility of governing. this is a deal and it's good news, i believe, for the american people. the agreement prevents the worst possible crisis, a default for the first time in our nation's history. the two parties have untiljune the 5th to reach an agreement to prevent the us government running out of money. our correspondent in washington jessica parker has more. this deal is set to raise the debt ceiling for two years. that's a big win for the white house. why? well, it means that, forjoe biden, who of course is seeking re—election in the 2024 presidential race, he won't have to face this political drama, instability, brinkmanship, right in the run—up to that presidential election, so he'll be pleased with that. but the republicans are trying to say they've chalked up wins in terms of policy, so they are talking about, for example, kevin mccarthy, the house speaker, that there will be curbs on spending.

he's talked about how there will be tougher work requirements for some people in receipt of food assistance, food stamps. and there's going to be less money than planned going to the internal revenue service. that money part of a democratic push to crack down on tax evasion by wealthy people and corporations. the hard sell is on, on both sides. joe biden will try and persuade his democratic caucus in congress to get behind this deal, and kevin mccarthy will try and persuade his republican colleagues as well. however, it already looks like there are some mumblings and grumblings on both sides, particularly from the right wing of the republican party and the left wing of the democratic party. however, joe biden and kevin mccarthy are talking confidently about trying to get this thing through congress, the house and the senate. but of course, they don't have much time. the deadline given by the us treasury isjune 5th.

so what does this development mean for asia? i so what does this development meanforasia? i put so what does this development mean for asia? i put that question to carson yeung. in terms of what it's going to do for asian markets, it's really going to... inaudible. put a bit of a damp given that we are seeing... inaudible. the big countries in this part of the world, china, japan, big holders of us treasuries, so what will this mean for them moving forward? absolutely. $2 trillion worth. _ moving forward? absolutely. $2 trillion worth. we _ moving forward? absolutely. $2 trillion worth. we look - moving forward? absolutely. $2 trillion worth. we look at - trillion worth. we look at those countries, they make up over a quarter of the outstanding monies owed. definitely relief for those governments knowing some kind of arrangement has been made.

given the fragile state, this concern about potential dee ford, which would have ramifications elsewhere as well as asia. the turkish lira has dropped to a new record low after the electoral authorities in the country declared president recep tayyip erdogan the winner of the presidential election run—off. he the winner of the presidential election run-off.— the winner of the presidential election run-off. he will serve another five _ election run-off. he will serve another five year _ election run-off. he will serve another five year term, - election run-off. he will serve another five year term, taking his rule into a third decade. he has presided over turkey during a period of economic crisis. the country's inflation rate is currently over 40% although it has been dropping in recent months. in his victory speech, he said battling the rising costs of living is turkey's most urgent issue but that it is not difficult to solve, and it will continue to fall. we spoke to an expert.

i think it's a sort of vote of confidence but we have to look at the interest rates, deeply negative... currencies like the lira, we have to look at the foreign exchange. in the short—term... at the end of the day, political stability is a big driver of capital flows so hopefully this will give investors some hope, particularly foreigners into the currency, but we have to watch how the market reacts. we 'ust watch how the market reacts. we just heard from president biden about this potential budget deal heading to congress for a vote. how do you expect the currency exchange market to react to this?— currency exchange market to react to this? for the last two weeks there _

react to this? for the last two weeks there has _ react to this? for the last two weeks there has been - react to this? for the last two weeks there has been a - react to this? for the last two weeks there has been a lot i react to this? for the last two weeks there has been a lot ofj weeks there has been a lot of optimism around the debt ceiling negotiations, and as a result we have seen the dollar strengthening. around 3.5% so far. we think a lot of the good news has already been priced in. we may see a little more, and that would come from the fact if the deal is passed through and the debt ceiling is reset, then there will be a bit of a withdrawal of liquidity, which will be used to reset the treasury general account, which currently the government is drawing on, moving towards a smaller amount. drawing on, moving towards a smalleramount. i drawing on, moving towards a smaller amount. i think when they need to top that up, that first instance on the debt ceiling, there will be a bit of a tighter liquidity condition, and that will move the dollar slightly higher than where it is today. in slightly higher than where it is toda . ., , is today. in other news, china's _ is today. in other news, china's first _ is today. in other news, | china's first domestically manufactured large passenger jet has successfully completed

its maiden commercial flight. state tv showed in rising to the skies above shanghai. it was built by the commercial aviation corporation of china, which is attempting to break the dominance of the airbus and boeing single aisle jets. the 164 seater still relies heavily on western components, including engines and avionics. with the pandemic seeing many re—evaluate their lives and make career pivots, how many of us know where our careers will end up when we start out in the world of work? one person whose career has taken quite a pivot is thomas dolby, who started as a star in the 19805 in synth p0p, a star in the 19805 in synth pop, now he is a professor of music. . pop, now he is a professor of music. , ., ., , pop, now he is a professor of music. , ., .,, _ music. up next, thomas dolby, orto music. up next, thomas dolby, or to put _ music. up next, thomas dolby, or to put it _ music. up next, thomas dolby, or to put it another _ music. up next, thomas dolby, or to put it another way, - music. up next, thomas dolby, or to put it another way, here i or to put it another way, here comes thoma5 dolby. in or to put it another way, here comes thomas dolby.- comes thomas dolby. in the 19805 comes thomas dolby. in the 1980s onwards, _ comes thomas dolby. in the

1980s onwards, i _ comes thomas dolby. in the 1980s onwards, i was - comes thomas dolby. in the 1980s onwards, i was a - 1980s onwards, i was a songwriter, a singer. later in my career. _ songwriter, a singer. later in my career, i moved into technology and had a high—tech company— technology and had a high—tech company in silicon valley called _ company in silicon valley called beatnik. i'm also a singer— called beatnik. i'm also a singer songwriter, i could play most — singer songwriter, i could play most of— singer songwriter, i could play most of my songs on the piano and sing — most of my songs on the piano and sing. i'm not a good drama. one_ and sing. i'm not a good drama. one day— and sing. i'm not a good drama. one day i— and sing. i'm not a good drama. one day i was out at a club and isaw_ one day i was out at a club and i saw an— one day i was out at a club and isaw an empty one day i was out at a club and i saw an empty dance floor with red and — i saw an empty dance floor with red and green lights flashing in time — red and green lights flashing in time to the music and i thought. _ in time to the music and i thought, i wonder how they do that? — thought, i wonder how they do that? there was a disco lighting _ that? there was a disco lighting console, i was able to -et lighting console, i was able to get my— lighting console, i was able to get my hands on one and adapted to play— get my hands on one and adapted to play the drums for me. when you listen— to play the drums for me. when you listen to she blinded me with— you listen to she blinded me with science... i got friendly with— with science... i got friendly with people making digital software for computers. i would request — software for computers. i would request new features and eventually started consulting for them, and eventually started consulting forthem, and then eventually started consulting for them, and then formed my own_ for them, and then formed my own software company. this was the early — own software company. this was the early days of the internet, there — the early days of the internet, there were venture capitalists roaming — there were venture capitalists roaming silicon valley looking for any— roaming silicon valley looking for any kind of wacky idea that

you could _ for any kind of wacky idea that you could sketch out on the hack— you could sketch out on the back of— you could sketch out on the back of an envelope and they would — back of an envelope and they would pull out their cheque hooi

doing. i find that much more stimulating and i feel creative when — stimulating and i feel creative when i — stimulating and i feel creative when i am floundering a little bit. when i am floundering a little bit i've — when i am floundering a little bit. i've always had restlessness to move onto the next _ restlessness to move onto the next thing. restlessness to move onto the next thing-— next thing. thomas dolby. before we _ next thing. thomas dolby. before we go, _ next thing. thomas dolby. before we go, the - next thing. thomas dolby. - before we go, the manufacturer behind mars bars are turning back the clock by ditching plastic wrappers in favour of paper. the change, ju5t plastic wrappers in favour of paper. the change, just a pilot at the moment, is an attempt by the company to be more environmentally friendly. that's all we have on asia business report. goodbye for now. sally has been an hgv driver forjust over a year. she only drives in the day but says finding somewhere decent and safe to park is difficult.- safe to park is difficult. some have not safe to park is difficult. some have got good _ safe to park is difficult. some

have got good parking, - safe to park is difficult. some| have got good parking, others haven't. in the day it's not so bad but i know i wouldn't feel safe at night. i have done one night out alongside my husband. we had to park on the side of the road. we had to park on the side of the road-— the road. this man runs his family haulage _ the road. this man runs his family haulage firm - the road. this man runs his family haulage firm in - family haulage firm in worcestershire and is chair of the local association. he has handed a petition to downing street calling for safer and more secure truck stops around the country, at a time when thefts from lorries across the industry over £400 million per year. the figure is growing. most of us wouldn't work in offices without proper toilets, welfare facilities, a kitchen to have our lunch and those things. these truck drivers don't have that. they have modern trucks, decent beds, fridges, microwaves and such like, but they still need somewhere to stop. the road haulaae somewhere to stop. the road haulage association _ somewhere to stop. the road haulage association says - somewhere to stop. the road i haulage association says better facilities for drivers are needed urgently. it believes 11,000 safe and secure spaces are needed right now across the

country.

inafew in a few months, this baby will have the first of numerous surgeries to repair her cleft lip and palate, a condition that means the tissue in her mouth didn't fuse together as it should have. her mum and dad received the diagnosis at the 20 week scan. the family are being talked through the procedure using an old augmented reality app, which uses 3d visuals to show parents what will happen to their baby. professor stephen lowe came up with the idea. i professor stephen lowe came up with the idea.— with the idea. i was inspired b the with the idea. i was inspired by the harry _ with the idea. i was inspired by the harry potter- with the idea. i was inspired i by the harry potter newspapers that come alive. 20% of people in the uk are functionally illiterate and can't read or write, about 10% have dyslexia. so if we just give them the

written leaflets, we exclude quite a large percentage of the population. forthings quite a large percentage of the population. for things like cleft lip and reconstruction, the surgery is complex, three—dimensional augmented reality suits it really well. the team says the feedback from the trial has been positive and they are looking to develop the technology for other procedures like breast reconstruction after cancer. as for little helena, she won't remember any of this but her mum and dad is a better understanding of surgery has brought them some comfort. hello, the latest from the bbc sports centre. the final reckoning, premier league relegation for leeds united and leicester city. max verstappen masters the streets of monaco and the weather to extend his lead in the formula 1 standings. and the boos rang

out in paris