hello, and welcome to asia business report. i'm monica miller. both presidentjoe biden and top or kevin mccarthy must convince their respective parties to back their agreement. and if approved, the deal would suspend the ceiling for two years, but includes compromises like putting a cap on spending for the 2a ivan toney five budgets. washington has until the 5th ofjune to pass us with the president saying he sees no reason why they shouldn't the deadline. you look, you know i never say i'm confident in what the congress is going to do. but i feel very good about it. i've spoken to a number of the members, i spoke to mcconnell, i spoke to a whole bunch of people, and it feels good. we'll see when the vote starts.

why would biden say what a good deal it is before the vote? to think that help it pass? no. so what might this mean for markets here in asia? it's a question i put to fidelity�*s catherine yeung. how have markets respond to this? they petted data say it. figs how have markets respond to this? they petted data say it. $5 a how have markets respond to this? they petted data say it.— they petted data say it. as a result of this tentative _ they petted data say it. as a result of this tentative deal _ they petted data say it. as a result of this tentative deal breaking, - they petted data say it. as a result of this tentative deal breaking, it l of this tentative deal breaking, it cements the fact that we are avoiding that more calamitous situation of a us default which would have been absolutely awful for the us economy, but also for increasing and ramping up those global recession risks, as well. but that looks like it's off the table, thank goodness. but that looks like it's off the table, thank goodness.— thank goodness. but there are worries that _ thank goodness. but there are worries that some _ thank goodness. but there are worries that some of - thank goodness. but there are worries that some of the - thank goodness. but there are - worries that some of the spending cuts and that legislation will lay on the growth of the utica dust us

economy. on the growth of the utica dust us econom . . �* on the growth of the utica dust us econom . ., �* ., , , ., economy. that'll only be at the mar: in economy. that'll only be at the margin when — economy. that'll only be at the margin when it _ economy. that'll only be at the margin when it comes - economy. that'll only be at the margin when it comes to - economy. that'll only be at the l margin when it comes to growth perspective, it means us policy being less supported over the next few years, but if we had to weigh the benefits over these modest spending cuts, we will take that deal every time because the deal itself has brought a lot of calm to financial markets, it's also meant that the us economy recession odds are not as collating quickly, so those spending cuts will only be modest over the medium term. congress is a big task ahead of them to actually get this passed, and a very divided congress. so have investors started to price in the price it will not need that —— meet that 5th ofjune deadline? i price it will not need that -- meet that 5th ofjune deadline?- that 5th ofjune deadline? i think there is that _ that 5th ofjune deadline? i think there is that overwhelming - that 5th ofjune deadline? i think- there is that overwhelming optimism that the deal will actually pass before the deadline, so we won't get into that default situation. i think

too much is at stake and hopefully we can put a lot of the division that we've seen aside to actually get this deal past, just because of this severe economic implications of a deal not being able to be passed, the stakes are too high at this point, and it looks like global markets as well are expecting the deal will actually pass before that earlyjune deadline. deal will actually pass before that early june deadline.— early june deadline. what are ratin . s early june deadline. what are ratings agencies _ early june deadline. what are ratings agencies like - early june deadline. what are ratings agencies like your - early june deadline. what are | ratings agencies like your own expecting? and they change their tune? , . ., ., , expecting? and they change their tune? , u, ., ,., expecting? and they change their tune? , ., , tune? our expectation is always been the baseline — tune? our expectation is always been the baseline assumption _ tune? our expectation is always been the baseline assumption that - tune? our expectation is always been the baseline assumption that it - tune? our expectation is always been the baseline assumption that it was i the baseline assumption that it was a tail risk that a us default would actually come to pass, so our expectation is thankfully playing to script that a deal would and has been likely made before that deadline, so the worst case scenario it won't come to pass. at the end of the day we've been in this situation several times before with the us, and each time we have gotten to a point where it's been very close to the wire but every time they have

actually scrambled together to get their act together and avoid that default situation.— their act together and avoid that default situation. katrina, thanks for “oininu default situation. katrina, thanks forjoining us— default situation. katrina, thanks forjoining us on _ default situation. katrina, thanks forjoining us on the _ default situation. katrina, thanks forjoining us on the programme. it's been two weeks since tylan poncelet pro—democracy party swept the general election. the country's election commission has two months to verify its results, but the longer it takes the more concerns grow over the formation of the next government, and this is already starting to weigh in on the type bot witches falling for the third straight week against us dollar. let's go to our thai economist from oxford economics, thanks forjoining us on the programme. seeing this volatility in the time markets, what concerns you the most? 50 volatility in the time markets, what concerns you the most?— concerns you the most? so we do think that in _ concerns you the most? so we do think that in the _ concerns you the most? so we do think that in the near _ concerns you the most? so we do think that in the near term, - concerns you the most? so we do think that in the near term, yes i think that in the near term, yes political uncertainty is high but this will fade away and we will get clarity on the new government by the end ofjuly, and this year and next

year would you think tourism recovery will support thai growth. what we are concerned more about is the medium—term growth as we don't see a clear driver of investment picking up. see a clear driver of investment picking un— see a clear driver of investment ickin: u. ., ., ., , picking up. you mentioned tourism, we 'ust picking up. you mentioned tourism, we just heard _ picking up. you mentioned tourism, we just heard the _ picking up. you mentioned tourism, we just heard the other— picking up. you mentioned tourism, we just heard the other day - picking up. you mentioned tourism, we just heard the other day like - picking up. you mentioned tourism, we just heard the other day like a i we just heard the other day like a million tourists have already gone to thailand which does look promising, but do we knew anything about the new coalition as we look forward to the next government taking over, what are their economic plans? 50 taking over, what are their economic lans? ., _, , taking over, what are their economic lans? ., , ,, plans? so of course, despite the wide political — plans? so of course, despite the wide political differences - plans? so of course, despite the wide political differences that i plans? so of course, despite the| wide political differences that we see between the parties, but was actually striking was that they are key economic pledges were quite similar between the major parties, and a lot of them focusing on populist measures. we do expect these to be temporary, so it would temporarily push the fiscal deficit but it wouldn't be a permanent one. now there's good and bad in the

sense that may be the financing cost might be manageable, bad because it won't necessarily change the growth path in any significant way in the medium—term. and these measures could actually come at the expense of more public investment which in our view is key to lift up growth in the medium—term. our view is key to lift up growth in the medium-term.— our view is key to lift up growth in the medium-term. thanks for “oining us on the programme. * the medium-term. thanks forjoining us on the programme. following - the medium-term. thanks forjoining| us on the programme. following calls from health organisations and medical professionals, australia is set to ban recreational vape being in the country as part of a major crackdown on what experts have called an epidemic. that means vape products can only be sealed with a prescription. as phil mercerfinds out, there are fear this will only fuel a black market. australia's vaping retailers are facing oblivion. their products have to be free of nicotine, but they could soon be closed down by the

government. owners are concerned that a ban on recreational vaping would fuel the illegal market. without a regulated industry, the problem willjust get bigger. they can be on the imports and single use disposables, they can band of apes, and the youth vaping will get bigger. they will get through the border somehow. bigger. they will get through the bordersomehow. e bigger. they will get through the border somehow.— bigger. they will get through the border somehow. e cigarettes turn it into a vapour— border somehow. e cigarettes turn it into a vapour which _ border somehow. e cigarettes turn it into a vapour which can _ border somehow. e cigarettes turn it into a vapour which can be _ border somehow. e cigarettes turn it into a vapour which can be inhaled, l into a vapour which can be inhaled, experts where they are creating a new generation of nicotine addicts. we know young people who try vaping are at _ we know young people who try vaping are at three _ we know young people who try vaping are at three times the risk of going onto smoke. that's a real concern. we can— onto smoke. that's a real concern. we can either— onto smoke. that's a real concern. we can either call that a gateway effect _ we can either call that a gateway effect or— we can either call that a gateway effect or increased risk factor, but it's a _ effect or increased risk factor, but it's a real— effect or increased risk factor, but it's a real success to the tobacco programme we've had in australia. not long _ programme we've had in australia. not long ago, vaping was a niche industry in australia but it's industry in australia but its popularity has exploded — about a

third of teenagers here have tried to e cigarettes. the government calls them a public health menace. vapour products should never be sold for public use. in australia, it's illegal to sell easter grants to children but the law is largely flouted. this 16—year—old has been vaping for more than four years. they've got a very high concentration of nicotine which is why they are so addictive, that's what got me. why they are so addictive, that's what got me— why they are so addictive, that's what not me. ., �* , what got me. under the government's lans, e what got me. under the government's plans. e cigarettes _ what got me. under the government's plans, e cigarettes will— what got me. under the government's plans, e cigarettes will only _ what got me. under the government's plans, e cigarettes will only be - plans, e cigarettes will only be sold at pharmacies with a prescription. disposables of apes, with their multitude of flavours and colourful packaging, will... i with their multitude of flavours and colourful packaging, will. . .- colourful packaging, will... i think it will create _ colourful packaging, will... i think it will create a _ colourful packaging, will... i think it will create a black _ colourful packaging, will... i think it will create a black market - it will create a black market because there's laws changing around vaping, and restricting access doesn't mean you can't get your hands on it, so i don't think it will help.

hands on it, so i don't think it will help-— will help. tobacco firms have acknowledged _ will help. tobacco firms have acknowledged that _ will help. tobacco firms have acknowledged that paving i will help. tobacco firms have - acknowledged that paving products are not risk—free and are addictive. but they insist that they play a large role in being a safer alternative to cigarettes. phil mercer, bbc news, sydney. you can read all about australia's vaping habit and why it's the number one behavioural issue in schools on our website. beijing has called onjapan to stop its export control of semiconductors to china. in a statement, the country's commerce minister labelled the controls a wrongdoing, saying they seriously violate international trade rules. now japan violate international trade rules. nowjapan only agreed to violate international trade rules. now japan only agreed to match violate international trade rules. nowjapan only agreed to match us export controls which limited chips to china. this affects 23 different types of equipment from being

exported. it's characterised these restrictions as being part of its duty to contribute to international peace and stability. tesla's chief executive elon musk is expected to visit china this week, according to sources which have been speaking to the newswire reuters. he is expected to meet with senior chinese officials as well as at the tesla shanghai plant. that's all we have for you now, shanghai plant. that's all we have foryou now, i'm shanghai plant. that's all we have for you now, i'm monica miller. 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. some have got good parking and others haven't. so in the day, it's not so bad. but i know that i wouldn't feel safe at night. and, you know, i have done one night out alongside my husband

and we had to park on the side of the road then. morton coleman runs his family haulage firm in gloucestershire, and he's chair of the road haulage association. it's handed a petition to downing street this week calling for safer and more secure truck stops across the country. it comes at a time when thefts from lorries cost the industry over £400 million a year, a figure that's growing. most of us wouldn't work in offices if we didn't have proper toilets, proper welfare facilities, a kitchen to go and make and have our lunch, and those things these truck drivers don't have that. they have very well modern trucks and decent beds, fridges, microwaves and suchlike, but they still need somewhere to stop. the road haulage association says better facilities for drivers are needed urgently and believes 11,000 safe and secure spaces are needed right now across the country.

hey i'm julia with the catch up! first up, london's met police are going to stop attending most emergency mental health calls. from september, they'll only respond if there's an immediate threat to life. officers reportedly spend up to 40% of their time responding to 999 calls about mental health, averaging ten hours with each patient. the move has been criticised by mental health groups, as well as a former police inspector who now runs an nhs mental health trust. there's a real danger that people who are in mental health crisis, who are particularly vulnerable won't receive the service they actually need. some other stories now — in turkey, supporters of president erdogan are celebrating after the 69—year—old secured another five years in power. in his victory speech, he ridiculed his opponent and criticized the lgbt community — but also vowed to cut inflation and help people live better lives.

he's been in powerfor more than 20 years now, and is seen as a key people who see traumatic events — like terror attacks — will get similar support to bereaved families. it's part of a government scheme first tested in london. tragedies like the manchester arena bombing and the grenfell tower fire are among the type of incidents that would be included. luton town fans have been celebrating the team's historic promotion to the premier league. thousands celebrated in the streets of luton today — to "paint the town orange" and cheer on the players on an open top bus. and we'll leave you with ten seconds of cheese rolling. competitors gathered to chase wheels of cheese down a hill near gloucester in the annual extreme sports event. the women's winner was knocked out but said the race was good — now that she remembers it.

gujarat titans. hello, i'm olly foster hello, i'm olly foster with the latest from with the latest from the bbc sport centre. the bbc sport centre. pochettino is a prmier league pochettino is a prmier league manager again, but can he turn manager again, but can he turn chelsea's fortunes around ? chelsea's fortunes around ? one step closer to grand slam one step closer to grand slam number 23 — novak djokovic number 23 — novak djokovic makes a successful start makes a successful start to his french open campaign. to his french open campaign. and ipl champions for a fifth time — and ipl champions for a fifth time — it went down to the final ball, it went down to the final ball,

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