morning: top stories this morning: markets injapan have opened higher, even as investors continue to scrutinise the latest comments from us federal reserve chaired jerome powell. the mckay is up, partly helped by the cheap yen and after wall street closed mix. , nikkei. mr powell said he did not rule out another hike to the cost of borrowing or the fed could raise rates even higher. if you remember, the us central bank paused its hiking cycle last month. ~ ., ., . ., month. we have not decided that so the only _ month. we have not decided that so the only thing _ month. we have not decided that so the only thing we _ month. we have not decided that so the only thing we decided - so the only thing we decided was not to raise rates at the june meeting. we have not made a decision to go to that. it may work out that way, it may not work out that way but i wouldn't take moving consecutive meetings of the table at all.— table at all. still staying with the _ table at all. still staying with the topic _ table at all. still staying with the topic of - table at all. still staying with the topic of the - table at all. still staying - with the topic of the federal reserve, big american banks have sailed through their annual health check as the fed stress test shows lenders like morgan stanley and citigroup have enough capital to whether

a severe economic slump. the 23 banks tested at more than $100 billion in assets each. that results in a vote of confidence for the financial sector after the collapse of the silicon valley bank earlier this year. elsewhere in the us, president joe biden has vowed to restore the american dream in a speech promoting his so—called bidenomics policy at a rally in chicago. he is courting voters ahead of the presidential re—election bid next year. michelle fleury explains. joe biden went on the road to make his pitch to sceptical americans. the president outlined his economic asian for the future and laid out what his policies have delivered so far. ., , his policies have delivered so far. ., ._ ,, ., , far. today, the us has the hithest far. today, the us has the highest economic - far. today, the us has the highest economic growth i far. today, the us has the - highest economic growth rate, leading the world economies, since the pandemic. the highest in the world. find since the pandemic. the highest in the world.— in the world. and he also spelt out what is _ in the world. and he also spelt out what is economic - in the world. and he also spelt out what is economic policy - in the world. and he also spelt| out what is economic policy was not. ., _

out what is economic policy was not. ., , out what is economic policy was not. ., not. folks, let me say this as clearly as _ not. folks, let me say this as clearly as i — not. folks, let me say this as clearly as i can. _ not. folks, let me say this as clearly as i can. trickle-down clearly as i can. trickle—down approach failed the middle—class, it failed america. it blew up the deficit, it increased in equity and weakened our infrastructure. �* infrastructure. the biden administration _ infrastructure. the biden administration doesn't i infrastructure. the biden - administration doesn't believe it is received enough credit for america's post covid revival stop opinion polls show nearly two thirds of the population disapprove of his handling of the economy. inflation from the pandemic, a rescue builder pumped $1.9 billion into the economy and the war in ukraine at overshadowed legislative wins on infrastructure and industrial policy. the white house is hoping that they are defining the president's economic vision and embracing the name bidenomics, they can finally start to turn those numbers around. in other news, china has passed its first foreign relations law aimed at providing a legal basis to hit back against sanctions in what chinese media called western hegemony. the law on foreign relations give ageing the right

to take "countermeasures and restrict measures against acts that endanger china's security and development interest". it comes as the us and china engage in an increasing dispute on politics and trade. china has seen parts of its country ripped by an historic heatwave this month but it's notjust the only country in asia affected. india is well is sweating under a blonde heatwave. the climate was a main topic at the world economic forum gathering in the chinese city of tianjin this year. earlier i spoke with an energy researcher who explained what needs to be done. as, energy researcher who explained what needs to be done. a, lot energy researcher who explained what needs to be done.— what needs to be done. a lot of the condensation _ what needs to be done. a lot of the condensation here - what needs to be done. a lot of the condensation here in - the condensation here in tianjin was about renewables and how to build all the things we need to actually get to net zero, so clean energy, while making sure the energy is reliable and affordable stop this is just the conversation in china, it's around the world. �* , . world. but is the electrical rid world. but is the electrical grid they _ world. but is the electrical grid they have _ world. but is the electrical grid they have up - world. but is the electrical grid they have up to - world. but is the electrical grid they have up to the i world. but is the electrical- grid they have up to the task? all the ones including the one in china need additional

investment, that is really clear. we are having a grid trying to deal with both changing climate and changing demand, electric vehicles, more appliances, etc, slightly more investments.— appliances, etc, slightly more investments. the president has an ambitious _ investments. the president has an ambitious goal, _ investments. the president has an ambitious goal, said - investments. the president has an ambitious goal, said by - investments. the president has| an ambitious goal, said by 2030 once the country to have a peek of carbon emissions. this contract? _ of carbon emissions. this contract? a _ of carbon emissions. this contract? a lot _ of carbon emissions. this contract? a lot of - of carbon emissions. this contract? a lot of work i of carbon emissions. thisj contract? a lot of work to of carbon emissions. this i contract? a lot of work to be done. when it comes to different things we need to do. the single world, word i will say build, build a lot of stuff and get it on line as quickly as possible. aha, and get it on line as quickly as possible.— as possible. a report by moody's _ as possible. a report by moody's investors - as possible. a report by i moody's investors service suggests a fall in long—term savings in the us and china, the world's two largest economies, could pose a risk to prospects for emerging markets. early, earlier i spoke with martin petch from moody's. we look at the _ martin petch from moody's. - look at the long—term savings behaviour in china and the expectation is that as the ageing population continues,

people draw down the savings they've made to meet their retirement needs, to cover their healthcare, so get a declining savings from that angle. the same time as the chinese try to boost the role of consumption and growth, younger cohorts of households are likely to save less for the precautionary, poor old age, healthcare, unemployment healthca re, unemployment benefits as healthcare, unemployment benefits as the authorities start to build that social safety net so overall in the medium to long—term, we expect china's savings rate to decline a little bit faster than that investment rate.— a little bit faster than that investment rate. right now, china is the _ investment rate. right now, china is the country - investment rate. right now, china is the country that - investment rate. right now, i china is the country that saves the most, something like 20%. why is that? i think it's largely because there are not those kind of social safety nets there. for old age, for unemployment, for example. 0r unexpected healthcare needs, so people save just to make sure that they can cover those. but at the same time, the savings are directed very much in towards the housing market and

there is fairly limited alternatives for savings there. martin, before we go, how will this have an impact on emerging markets? has this have an impact on emerging markets? �* , , ,, markets? as we see, the us continues — markets? as we see, the us continues to _ markets? as we see, the us continues to draw _ markets? as we see, the us continues to draw on - markets? as we see, the us continues to draw on globall continues to draw on global savings to fund its current account deficit. as savings in guard, start to decline as a share of gdp, the contribution to global savings at the chinese will make or start to decline and so the global savings is available for investment in emerging markets. it will tend to be less. more difficult to find public infrastructure that they need to boost productivity. healthcare facilities, education, etc, so that is where we see the issues some emerging markets, particularly those with weak macroeconomic policy frameworks. significant political risk. they will find it difficult to find the investment they need, to fund the development path that they want to pursue. i the development path that they want to pursue.— want to pursue. i want to take ou now

want to pursue. i want to take you now to — want to pursue. i want to take you now to spain _ want to pursue. i want to take you now to spain where - want to pursue. i want to take | you now to spain where voters are gearing up to hold a general election next month. the conservative opposition parties hoping to unseat the current left—wing coalition. and the issue of the spanish economy is front and centre were notjust economy is front and centre were not just voters economy is front and centre were notjust voters but politicians. we report from madrid. the summer begins. spain's tourism and catering industries come into their own. finally, these sectors and many others have bounced back fully from the pandemic. spain has one of the fastest growing economies in the european union and it's outperforming the likes of germany, the united states and the uk. its unemployment rate meanwhile remains relatively high at 13% but it has come down substantially since the height of the pandemic. the government of the pandemic. the government of socialist pedro sanchez attributes much of this to its reforms and to the 70 billion euros the country has received indirect support from the eu's

post pandemic recovery fund. with the eu recovery plan, we been able to undertake a massive investment and reform programme but there are two trade transitions which foreshore will mark the economic performance going forward. the vehicle transformation and the challenge of basing and trying to mitigate and adapt to climate change. i5 to mitigate and adapt to climate change.- to mitigate and adapt to climate chance. , ., climate change. is the general election approaches, - climate change. is the general election approaches, the - election approaches, the conservatives of the opposition popular party say the government is being openly complacent. government is being openly comlacent. �* ,, �* complacent. translation: the government _ complacent. translation: the government boasts _ complacent. translation: the government boasts of _ complacent. translation: the government boasts of its - government boasts of its economic record but what is the reality? we are poorer than we were in 2019, the economic reality is that we are the country that increased taxes the most during the pandemic. spaniards have never paid as much in tax as they do now. the conservatives _ much in tax as they do now. the conservatives are _ much in tax as they do now. the conservatives are proposing tax cuts and a reduction in public debt. 0n the streets of madrid,

opinions about the economy are mixed. ., , , mixed. the gap between different _ mixed. the gap between different economies - mixed. the gap between different economies like | mixed. the gap between . different economies like the rich people and the poor people is even bigger and is becoming worse and worse. translation: the european _ worse and worse. translation: the european central _ worse and worse. translation: the european central bank - worse and worse. translation: the european central bank and i the european central bank and other_ the european central bank and other institutions say that spain's _ other institutions say that spain's economy is growing fast and doing — spain's economy is growing fast and doing well, says this man, but i _ and doing well, says this man, but i think_ and doing well, says this man, but i think people have less unless— but i think people have less unless buying power. our government _ unless buying power. our government has - unless buying power. our government has a - unless buying power. our government has a lot - unless buying power. our government has a lot of criticism _ government has a lot of criticism on _ government has a lot of criticism on them - government has a lot of criticism on them but i. government has a lot of - criticism on them but i don't think— criticism on them but i don't think they— criticism on them but i don't think they did _ criticism on them but i don't think they did that _ criticism on them but i don't think they did that bad. - criticism on them but i don't think they did that bad. i- think they did that bad. i mean. _ think they did that bad. i mean. we _ think they did that bad. i mean, we had _ think they did that bad. i mean, we had difficult i think they did that bad. i- mean, we had difficult times with— mean, we had difficult times with the _ mean, we had difficult times with the pandemic, - mean, we had difficult times with the pandemic, with- with the pandemic, with unemployment, - with the pandemic, with unemployment, but - with the pandemic, withi unemployment, but they with the pandemic, with- unemployment, but they did what they coutd~ — unemployment, but they did what they coutd~ the _ unemployment, but they did what the could. ., , ., , they could. the conservatives are favourites _ they could. the conservatives are favourites to _ they could. the conservatives are favourites to win - they could. the conservatives are favourites to win the - are favourites to win the election but securing a majority will be difficult and they are likely to need the support of their eurosceptic far right vox party. while spain's economy is forecast to keep performing well this year and next, it's politics are

much harder to predict. that's all we have this edition of asia business report but you can always keep up with the latest news by visiting our news website and if you haven't, download our app. thank you for watching, i am monica miller. i actually thought of the time i actually thought of the time i must be dying or something, because i couldn't breathe, i had lights in my eyes, i thought i was going to pass out. i was brought up to the doctors and i was like, i need some help, i don't know what is going on. some help, i don't know what is auoin on. �* ., some help, i don't know what is auoin on. �* . ., some help, i don't know what is going on-_ some help, i don't know what is auoin on. �* ., ., ., going on. andrew had no idea he was suffering _ going on. andrew had no idea he was suffering from _ going on. andrew had no idea he was suffering from anxiety - going on. andrew had no idea he was suffering from anxiety and i was suffering from anxiety and panic attacks while working hard running his construction company. i hard running his construction company-— company. i had ignored it for so long. _ company. i had ignored it for so long. so _ company. i had ignored it for so long, so that's _ company. i had ignored it for so long, so that's where - company. i had ignored it for so long, so that's where i - so long, so that's where i ignored it for about a year because i didn't know that i needed it, i didn't go needed

any help. needed it, i didn't go needed an hel. needed it, i didn't go needed any help-— needed it, i didn't go needed an hel. , ., any help. the gp dealt with the -h sical any help. the gp dealt with the physical symptoms _ any help. the gp dealt with the physical symptoms but - any help. the gp dealt with the physical symptoms but andrew| physical symptoms but andrew was finally able to talk when he met kerry from the charity mind who he is now working with to encourage his staff to be more open about their mental health. gareth touhy has worked in the construction industry for decades and says there is what he calls a lad culture where men don't feel comfortable talking about their mental health. irate comfortable talking about their mental health.— mental health. we have build infrastructure, _ mental health. we have build infrastructure, want - mental health. we have build infrastructure, want to - mental health. we have build infrastructure, want to build l infrastructure, want to build the building, get thejob done, work in the rain and snow, tough it out and suck it up. and there is a stigma in the that admitting mental health problem might affect theirjob. momentum is building towards a change industry that many feel has been quiet on mental health for too long. for more stories from across the uk, head to the bbc news website.

hey, iam hey, i am zoph with the catch up. tonight, queens uni and their marking boycott. celebrations eid take place around the world and a wholesome chimpanzee moment. a committee that monitors the government's action on climate change as the uk is no longer a world leader on climate issues. in 2019, the uk set a target to cut greenhouse gas emissions to note zero by 2050. meaning it would no longer add any additional greenhouse gases to the atmosphere. but the climate change committee says the government's efforts to reach these are worryingly slow, in particular it criticised ministers for supporting new oil and coal projects and set plans to expand our ports don't fit with the uk's climate commitments. some other stories now. parts of a tourist submersible but imploded while on a dive to the titanic shipwreck had been brought ashore in canada. all five

people onboard were killed. and staff at queen's uni in belfast have ended a boycott on marking after several months of industrial action. marking will now be completed by the seventh of august so results can be finalised by the end of summer. and people have gathered around the world to celebrate eid, one of the most important events in the islamic calendar. this was in liverpool. celebrations include a funfair at a local park. in time now for ten seconds of chimpanzee cuteness. this is the moment vanilla sees the outdoors for the first time after 28 years in a medicine lab. thankfully she is now in her animal century home. you are all caught up now. see you later. , sanctuary.

hello and welcome to sportsday. hello and welcome to sportsday. i'm 0lly foster. i'm 0lly foster. a protest disrupts the start a protest disrupts the start of the second ashes test of the second ashes test at lord's as australia at lord's as australia end the day on top. end the day on top. maddison gets his move to spurs maddison gets his move to spurs but he's not the only but he's not the only premier league premier league transfer of the day. transfer of the day. and with the paris 0lympics one and with the paris 0lympics one year away, is simone biles year away, is simone biles on the comeback trail? on the comeback trail?