the us treasury secretary heads to beijing, the second cabinet member to visit the chinese capital in two months. and facebook�*s owner meta launches its latest app, one that is being seen as a huge rival to twitter. hi there, welcome to asia business report, with me, mariko oi. us treasury secretary janet yellen is expect to arrive shortly in the chinese capital and she is the second high—level us cabinet member to do so after secretary of state antony blinken�*s visit a couple of weeks ago. her trip also comes after beijing moved to limit the exports of certain rare

earths just days ago. i think she really wants as she said to get communications open. we are trading a lot with china, china depends on the us, us depends on china but at the same time, security and geopolitical interests are coming into conflict. i would say it is a little bit like good cop bad cop, blinken being the bad cop and now yellen going in as the good cop trying to say, "look, we have a lot in common, let's see what we can do together," but boy, back home in the united states, both the democrats and the republicans are bashing on china, trump put in tariffs on hundreds of billions of chinese goods and president biden, who has reversed every trump policy he can, has kept that one. but despite those cooling tensions, the trade between the two have actually been growing but of course just ahead of her visit, beijing announcing those export controls on rare metals,

also introducing some new laws on foreign relations and counterespionage and so on. is beijing playing hardball or could these moves actually backfire? i think beijing sees themselves as countering what the us is doing, putting on export controls on things as listeners just heard, on quantum computing, artificial intelligence, areas where the us has the cutting edge and doesn't want beijing to catch up on the us says no, we're just doing that for security, not a competitive advantage and beijing is saying same thing. there are absolutely growing tensions here. there were before ukraine and since ukraine it's no doubt it has gotten a lot worse. what do you think beijing is hoping to get out of this trip?

we haven't been sending high—level officials to beijing, they haven't been meeting as much. i think both sides would like to open dialogue but there are very high tensions. we have a lot of business we do and there are fears on both sides. beijing fears on both sides. beijing fears that the us is trying to contain china, to hold them back. united states more or less is worried china wants to eat their lunch.— eat their lunch. you can read more analysis _ eat their lunch. you can read more analysis on _ eat their lunch. you can read more analysis on janet - eat their lunch. you can read i more analysis on janet yellen's more analysis on janet yellen's visit to beijing on more analysis onjanet yellen's visit to beijing on our website. meanwhile the us has been keeping a close eye on beating's handling

on beating's handling of its currency however china says the reason it is so low is because of the us federal reserve raising interest rates. the central bank there held the cost of borrowing study last month after ten straight hikes. more rate hikes but at a slower pace, that is the message from the american central reserve. policymakers intend to raise interest rates as soon asjuly after taking a break last month to assess the impact of ten previous increases. while fed officials seem to be in agreement for what to do next meeting minutes released on wednesday showed there was disagreement amongst members over the decision to hold off injune. they could have supported a rate rise last month because inflation remains well above the 2% target. the minutes show how policymakers aren't grappling with how to tame inflation after it hit aao year high last year. even after

left the benchmark rate unchanged, almost all officials believe more rate hikes are needed. ahead of thejuly meeting, there are two more key pieces of economic data that is due out. the monthlyjobs report on friday and consumer inflation data next week. facebook�*s parent company meta hasjust launched its latest app. threads has been described as a textbased conversation app and is seen as a major rival to twitter but its release in europe has been delayed over regulatory concerns. james clayton has more. well the app has just dropped and i can tell you it looks an awful lot like twitter and that's because mark zuckerberg absolutely wants this to compete directly with twitter. this is mark zuckerberg against elon musk. what does it look and feel like? there is a maximum character limit of 500, you can share posts with your friends, in a very similar way

to twitter, all accounts will start off private and then you can make them public, and in theory this isn't available now but the hope is from meta that this will be interoperable with other platforms like blue sky and mastodon.l i think the crucial thing here and this is why i am excited about this is this is not a random player, this is meta doing this, they have a lot of experience of copying other apps very successfully, reels which is a copy of tiktok, stories which is a copy of snapchat and this app will have access to hundreds and millions of instagram accounts. it is not starting from zero. so this has a very, very good chance of succeeding, some people are calling it a twitter killer. it will also hoover up lots of data so it is worth just saying that in a way that some other apps don't. this is a really, really significant moment in terms of twitter. a very perilous moment

i would say for elon musk�*s new twitter. just one more thing to say about this, it won't be available in the eu because of the digital market act that has recently come into force. meta is worried about getting sued because it will be transferring data from threads to instagram and vice—versa. still lots to unpack, very difficult to know how successful this will be but a real moment here in san francisco. james clayton reporting there. two authors have filed a lawsuit against a research lab behind chatgpt. they allege the copyrighted books were used to train the chat but without their consent. open al was sued in a class—action lawsuit for allegedly stealing private information from online users. the boss of energy giant shell says a cutting—edge oil and gas production will be dangerous especially when international demand risks exceeding current supply. he made those comments to the bbc�*s business editor simonjack.

important to recognise, last winter a lot of the reprieve came from what was a warm winter and two, before we are able to let go of that, we need to make sure we develop a new energy systems of the future and we are not yet collectively moving at the pace that requires that to happen. the chief of the un antonio guterres said it is economic and moral madness to continue looking for new oil and gas. i disagree with in respect leave. i think what will be dangerous and irresponsible is actually cutting out the oil and gas production so the cost of living as we sawjust last year starts to shoot up again, not to mention the fact that many countries last year, countries like bangladesh and pakistan, because europe could afford to import energy, they took away that energy from those countries. children had to work

or study by the light of candles. if we need a transition, it should be a just transition, it should be a just transition that doesn't work for one point of the world but is a globally responsible transition.— is a globally responsible transition. erin relieved we not transition. erin relieved we got through _ transition. erin relieved we got through winter - transition. erin relieved we got through winter with - transition. erin relieved we| got through winter with the lights on. are we being complacent about this winter? i think there is a danger. it's important to recognise last winter, a lot of the reprieve came from what was a warm winter and also, china's demand wasn't as high as it traditionally had been which allowed a lot of the liquefied natural gas to actually be shipped over to europe. one cannot depend on that as a energy policy going into the coming winters, and therefore there is a concern that if we have a cold winter and energy demand they in many other locations including china goes back up, then there will be a strain on resources coming here. and what we mean by that? we are seeing prices double, triple, will we get back to the spikes we saw in the summer of last year?

i really hope not, but the tightness in the broader market both for oil and gas means that small shifts can have magnified affect. if i can just bring that to life, last year, the overall energy production that was taken out because of the russian invasion was i% of global energy supply. 196. that is what created the massive all agility of last year. and so if you get a similar i%, 2%, 3% take out of that production, then who knows how massive that all agility can be. japan's index is down byjust over i%. japan's index is down by 'ust over 196. . japan's index is down by 'ust over1%. . , japan's index is down by 'ust over1%. ., , ~ , ., over 196. that is it the asia business _ over 196. that is it the asia business report, - over 196. that is it the asia business report, see - over 196. that is it the asia business report, see you | business report, see you tomorrow. thank you for

watching. described in court as a bright, happy and bubbly person who easily made friends, he took his own life in april 2021. he was a0 years old. an inquest into his death described his case as unusual and complex. lisa stter coroner's court heard how luke had an undiagnosed gambling disorder and psychiatric conditions. it wasn't diagnosed because he didn't share his gambling with anyone, nor did he seek medical advice. in 2019, he had debts of £18,000 because of his gambling addiction. he and his wife annie were able to pay it off when the couple sold their home but during the pandemic, luke was increasingly gambling again. in a statement, the company said:

the recording for the first time ever of a gambling disorder is a cause of death has been welcomed by luke's family. hello, i'm here with the catch up. concerns over rail ticket office cuts, and forest green making football history. but first, happy birthday to the nhs. the uk's free point—of—use healthcare system turns 75 today. there have been celebrations across the country. this was in my home region of merseyside.

against the backdrop of long waiting lists, the effects of the covid pandemic and falling staff morale are steady from the government's state office says more than half of people are satisfied with the healthcare system. some are concerned it won't reach its 100th birthday without reforms in spending to tackle ageing population's healthcare needs. some other stories now. train companies want to close hundreds of ticket offices across england over the next three years. the busiest stations but being criticised by disabled people who say it is going to be harder to get the help they need to travel. sex ed should be compulsory in six forms and colleges, mps say. they want teacher training to tackle distorted ideas of masculinity, sexual harassment and gender violence. and forest green made footballing history after naming the first woman to manage a uk's men's professional football team.

hannah dingley is the new caretaker boss. time now to leave you with 10 seconds of fireworks. these spectacular sparklers were used at the us independence day celebrations in washington, dc. the us capital. you are all caught up, goodbye for now.

hello. i'm marc edwards. welcome to sportsday from the bbc sport centre. here is what we have coming up on the show. protesters interrupt play twice at wimbledon on day three. top seed iga swiatek continues her pursuit