investors are looking to the us federal reserve for guidance this week as the central bank meets the top we look at how a shock merger of the worlds top golf lease could impact the business of the sport. hello and welcome to asia business report. i'm monica miller.

welcome to a brand—new week. looks like it's going to be a busy month for central banks from the us, europe and japan. on wednesday the us federal reserve will wrap up its two day meeting to decide on a cost of borrowing in the worlds largest economy. expectations are high at the fed and will hit the pause button this week after raising interest rates ten times and fascia. on thursday policymakers from the european central bank are expected to meet and they at the delicate balance of taming inflation while trying to avoid the risk of falling into a recession. and rounding out the week the bank ofjapan will be in session to debate on its monetary policy moods. expectations are high that they will continue to remain its ultra—loose monetary policy. it's notjust central banks that investors will be watching closely this week, china is poised to unveil a slew of its latest data. later today at loan growth and money supply data for may could offer some

clues on cash that is in circulation and the deposits that are in financial system. and on thursday we will get a gauge of how factories are performing and a check on the retail pulse for the month of may. earlier i spoke with calvin wong of rwanda and he gave me his take on how he thinks the fed will move this week. , . , , . week. they are pretty much actina week. they are pretty much acting this _ week. they are pretty much acting this will _ week. they are pretty much acting this will be _ week. they are pretty much acting this will be the - week. they are pretty much acting this will be the first l acting this will be the first in the current interest rate cycle. it could change to 5%. i do not believe it will actually really high interest rate in line with the us treasury and in the process of issuing more t—bills to fill up this cash balance. t-bills to fill up this cash balance-— t-bills to fill up this cash balance. ., , ., ., balance. the european central bank revised _ balance. the european central bank revised some _ balance. the european central bank revised some of- balance. the european central bank revised some of its - bank revised some of its figures last friday and it said its economy is shrinking ever so slightly. what can we expect them to do with their interest rates? i them to do with their interest rates? , , ., ., ., ~'

them to do with their interest rates? , , ., . rates? i believe if you look at the euros. — rates? i believe if you look at the euros, even _ rates? i believe if you look at the euros, even though - rates? i believe if you look at the euros, even though we i rates? i believe if you look at i the euros, even though we start to see a slack in economic data however, cbi still elevated. if you look at the current guidance shares seems to there is still a pepp and the interest rate hike for the potentially another gash. china has a bunch — potentially another gash. china has a bunch of _ potentially another gash. china has a bunch of data _ potentially another gash. china has a bunch of data coming - potentially another gash. china | has a bunch of data coming out. what is it you are going to be focused on? fin what is it you are going to be focused on?— focused on? on this coming thursday — focused on? on this coming thursday we _ focused on? on this coming thursday we have _ focused on? on this coming thursday we have a - focused on? on this coming thursday we have a slew. focused on? on this coming thursday we have a slew of| thursday we have a slew of trends —— but that that's far as housing for that if you look at the last two weeks, most incoming data of the whole week. if this happens, we could expect there's a high loss that china make, especially may start to tilt more on the side. do not forget, we also have the announcement of the key

interest rate policy two, which is the one—year term for the and since august last year at 2% or 5%. and since august last year at 2% or 596-— 296 or 5%. cabinet longed for it's official, _ 296 or 5%. cabinet longed for it's official, billionaire - it's official, billionaire financer george soros is handing over control of his $25 billion empire to his son alex soros. the move was confirmed after an interview with the wall streetjournal. the 92—year—old philanthropist had previously said he didn't want his foundation to be taken over by one of his children. when asked about his decision to pass the reins over to his son mr soros said he earned it. meanwhile, work is under way for british hedge fund asset management partnership after its boss quit over the weekend following allegations from eight women that he sexually assaulted them. the 64 crispin odey was known for betting

against the british pound in uk government bonds. he is called the allegations rubbish. onto a marriage which surprised many last week, we're talking about the surprise three way tie up an ounce in the golf world between the well—established pga tour, dp world tour and liv, which is backdate saudi arabia. this ends two years of bitter conflict in many calls but also left players and fans in shock, especially of the future of the sport. earlier i spoke to david growth and he gave me his thoughts on the merger. it gave me his thoughts on the meruer. , ., ., gave me his thoughts on the merael’, , ., ., ., merger. it is somewhat of a transformation _ merger. it is somewhat of a transformation that's - merger. it is somewhat of a l transformation that's offered for a couple years between the two wars, the european tour and the american torah and liv, funded by these audis public investment fund. —— audis. having to go to court and

essentially had to beg up in the pga tour. fist essentially had to beg up in the pga tour.— the pga tour. at peace has broken out. _ the pga tour. at peace has broken out. some - the pga tour. at peace has broken out. some people l the pga tour. at peace has . broken out. some people have accused the saudi government of sports washing, it's notjust because we were looking at in terms of making something look better then it is when turning away from side of the criticism about its human rights practices and other things. do you think sports washing actually works? i5 you think sports washing actually works?- actually works? is a very traditional _ actually works? is a very traditional tactic. - actually works? is a very traditional tactic. it - actually works? is a very i traditional tactic. it doesn't only apply to saudi arabia, it applies to the country him in at the moment, australia, the united states, etc. it's a tactic which attempts to use to cover over sometimes human rights violations, that kind of thing. or expanding practices of the various kinds. it's an

irony, people have pointed out that when you try to wash some things the more they become visible. if it's a tactic that doesn't necessarily work well. don't forget, this is also very much in economic strategy for that for example the case of saudi arabia to break out of its dependency on fossil fuels and get into the service and entertainment sector. to the fans really — entertainment sector. to the fans really care _ entertainment sector. to the fans really care if _ entertainment sector. to the fans really care if saudi - fans really care if saudi arabia owes these teams? some do, some don't. _ arabia owes these teams? some do, some don't. some _ arabia owes these teams? some do, some don't. some don't- do, some don't. some don't care. wayne taking over newcastle united football club, the english league, there were fans wearing what they regarded as arab regalia. and had no problem with it. otherfans as arab regalia. and had no problem with it. other fans and large groups are worried about it. , ., , , .,

it. yes. our huge appetite of renewable — it. yes. our huge appetite of renewable energy _ it. yes. our huge appetite of renewable energy have - it. yes. our huge appetite of renewable energy have set l it. yes. our huge appetite of. renewable energy have set off a new race. this time for brought metals like nickel and cobalt. you can either dig them out of the ground or in theory you can pick them off the ocean floor. as michelle flory finds out, sea bed mining might be more complex than it seems. this robot was designed to collect rare metals from the ocean floor like nickel and cobalt. via a process they call selective harvesting. using artificial intelligence and sensors it is able to recognise the valuable metals while leaving important marine ecosystems intact.- leaving important marine ecosystems intact. we're really focused on _ ecosystems intact. we're really focused on preserving - ecosystems intact. we're really focused on preserving that - focused on preserving that habitat. he focused on preserving that habitat. , ., , ., , habitat. he brought us to this ba in habitat. he brought us to this bay in ontario canada. - habitat. he brought us to this bay in ontario canada. we're| bay in ontario canada. we're really trying _ bay in ontario canada. we're really trying to _ bay in ontario canada. we're really trying to invent - bay in ontario canada. we're really trying to invent a - really trying to invent a different way of deep—sea mining. when i saw what was being done and the fact that there was really no innovation

for 50 years, it's the same architecture tested, it was like, why are we not using robotics, while not using ai? robotics, while not using al? the decision whether or not to allow deep—sea mining will be taking thisjuly by un body that controls exploitation of the sea bed. so this machine has been designed to mind the ocean floor without in theory causing too much damage. the concept here is to try and find a greener alternative to dredging technology. the eyes ofthe dredging technology. the eyes of the system, _ dredging technology. the eyes of the system, the _ dredging technology. the eyes of the system, the cameras i dredging technology. the eyes| of the system, the cameras are at the _ of the system, the cameras are at the front that helps us see where — at the front that helps us see where we're going and see what we want — where we're going and see what we want to pick out. the clock, which _ we want to pick out. the clock, which is — we want to pick out. the clock, which is why it's a collectively picks up nodules and once as nodules have been picked — and once as nodules have been picked up — and once as nodules have been picked up they are sitting in the vehicle and we offset the weight— the vehicle and we offset the weight of the system with the boise — weight of the system with the boise engine, that's what keeps us hovering over the sea bed. and _ us hovering over the sea bed. and the — us hovering over the sea bed. and the target, deep down at the bottom of the ocean lie incredible reserves of the metals needed for electronics and renewable energy. in

between hawaii and mexico the size of the nickel deposit is larger than the entire global deposit. larger than the entire global de osit. , , ., larger than the entire global deosit. , , ., deposit. this is a partner, module. _ deposit. this is a partner, module, rich _ deposit. this is a partner, module, rich in _ deposit. this is a partner, module, rich in copper, . deposit. this is a partner, i module, rich in copper, nickel and _ module, rich in copper, nickel and cobalt _ module, rich in copper, nickel and cobalt and people want to make — and cobalt and people want to make batteries out of them. so some make batteries out of them. sr some scientists make batteries out of them. 5r some scientists say we will have to mind them but others warn that mining these potato size rocks will devastate marine life. i size rocks will devastate marine life.— size rocks will devastate marine life. i worry about basically _ marine life. i worry about basically pollution - marine life. i worry about basically pollution for i marine life. i worry about| basically pollution for that you are _ basically pollution for that you are stirring up sediments whenever_ you are stirring up sediments whenever you dredge to get this material— whenever you dredge to get this material and it could be dispersed across the entire ocean, _ dispersed across the entire ocean, essentially. that could be a _ ocean, essentially. that could be a threat to marine life. so there is a _ be a threat to marine life. 5r there is a difficult decision. the planets largest source of battery metal lies deep in the seat where mining is impact will be profound. and before we 90, will be profound. and before we go, let's take a quick look at how markets performed on friday. the s&p 500 closed higher but off its high as a tesla rally failed to galvanise

the market. the nasdaq notched it seventh straight week of games while the dowjones industrial average rose as well. investors again as we mentioned earlier are closely watching the us federal reserve policy meeting, which kicks off on tuesday. that's all we have for you now for that i am monica miller. bbc news bringing you different stories from across the uk. huge crowds enjoyed live music while soaking up the sun at brockwell park's mighty hoopla festival at the weekend. but not everyone was a fan. peter bradley's 13th floor flat overlooks the park. people say you're a nimby and you don't want it in your back yard. but you can see this is my back yard.

and to have events of this loudness. well, because you can actually feel them. you can feel it. i work from home. it's almost impossible to work from home when events like this are going on. lambeth council says we've worked hard to ensure the impact on local people was kept to a minimum that included noise monitoring and a strict music curfew of 10pm on sunday. it added... meanwhile, the council apologised for any noise disturbance caused by the events and has already said it will see if there are any lessons to be learned for the future. for more stories from across the uk, head to the bbc news website.

for some time artificial intelligence has been all around us. you might out of notice it but your viewing services, social media feeds and maps on your smartphones have all been steadily improving their performance. because the computers behind them have been learning. last ear them have been learning. last year something _ them have been learning. last year something important happened. ai got human. stunning photorealistic images like these are all created by ai from short text descriptions. and then ai started having conversations with us. it was starting to generate stuff that felt human. this field of