welcome to asia business report with me mariko oi. let's begin with me mariko oi. let's begin with the cost of living in the world �*s largest economy. inflation in the us has risen by 3% in the year tojune. that is the lowest level in more than two years. the news has been shut by financial markets which closed at the highest levels in over a year. let's show you how wall street ended, especially the nasdaq doing quite well. investors are now feeling more confident you economy may be able to avoid a recession. the headline is that the cost of living in the united states is headed in the right direction. inflation rose 3% in the month ofjune. down a full percentage point from a month earlier. it has fallen pretty sharply from its peak of

more than 9% injune of last year. it is a sign of the federal reserve �*s moves to raise interest rates to slow down inflation seems to be working. but analysts still think america central bank will raise interest rates one more time at their next meeting. it is good news for consumers but also good news for us president joe biden who counted the administration �*s efforts to bring prices down. he is facing re— election next year and being able to control inflation without pushing the repeat into recession, it will be key in montana for years at the white house. the chief economist says he is wondering whether this is a turning point. other central banks around what asking themselves, has the us peak? we

are, consumers can get the stuff they want to buy. one of the things they are concerned with is even that he had numbers is down to 3%, waved down from nine, the core inflation excluding the food and energy components are still pretty high, nowhere near the 2% target. i think we have a good downpayment but i think we had yet to see convincing evidence the town has arrived in a convincing way. what does that mean for the federal service next move? we were expecting two more hikes. has this latest inflation data changed that or not? i don't think most members will believe this is enough, they will say we have been there before, had occasions where inflation rate turned down and look like he was doing the right direction and two months later it would turn up again. the fed it's not only is the trend going in the right direction, all of

inflation, including the services, if anyone here in the united states tells you about the cost of car repairs, cost of going to the dentist, we will see we still have very high rates of inflation and very important part of the country. the fed will wait until it is convinced we are close enough to 2% they will stop tightening. investors seem to be chairing the us economy might be able to avoid a recession. do you agree? the key is to we need a recession in order to continue to keep inflation in a downward path? it seems ryan abbott unemployment rate at 3.5%, a lot ofjob openings, we are nowhere near what people which is local recession because we might hit a perfect soft landing where we are able to produce the patient without raising unemployment and will have to see if that works. looks like we are really on the path to do that. it is and and

for corporate america and later today we are due to get the second quarter results from us carrier delta air lines. when borders were open post covid, there was a surge in demand for what is known as revenge travel. airlines are a major leap in bookings. on the flipside, stopwatches left operational challenges which resulted in flight delays or cancellations. baggage handling issues and overcrowding. our transport editor says revenge travel is in full swing this summer. travel is in full swing this summer-— travel is in full swing this summer. , , travel is in full swing this summer. . ,, , , ., summer. passenger numbers are over pre- _ summer. passenger numbers are over pre- covid — summer. passenger numbers are over pre- covid now. _ summer. passenger numbers are over pre- covid now. millions - over pre— covid now. millions of people who are, as you mentioned earlier, engaging in what we call revenge travel. that is the travelling aggressively to make up for all of that lost time. it started last year and it is continuing this year at the transportation security administration which

does security screenings and about a50 airports across the country. much to record numbers in the last couple of weeks. also even higher than 2019 numbers. also even higher than 2019 numbere— numbers. even asia, some tourism — numbers. even asia, some tourism spots _ numbers. even asia, some tourism spots are - numbers. even asia, some l tourism spots are struggling with the staff shortages because many of them had to let go of them during the pandemic. american airlines expressing the same things, aren't they? the entire airline infrastructure and the airports, ground handling, security, all of those roles, they lost a lot of people through covid and through the aftermath. very experienced pilots and air traffic controllers retired. bringing a lot of new people who don't actually have that experience and needs to build up that experience now as well. let's take to pakistan _ experience now as well. let's take to pakistan because - take to pakistan because international monetary fund approved a $3 billion bailout programme for the south asian country. the imf will immediately disperse more than $1 billion to help stabilise the economy while the rest of

the economy while the rest of the funds will be paid out in the funds will be paid out in the next nine months. the deal is a lifeline to the country of 230 million people. pakistan had been facing a severe balance of payment prices with only enough reserves to cover barely a month of imports. that story is now live on our website so if you want to learn more about the imf bailout package for pakistan, you can go to the bbc website and click on business. pakistan is not alone in needing imf assistance. not long ago, sri lanka was in the same situation. it has been a year since its former president fled the country amid the massive economy crisis. market was deserted year ago but now it is abuzz with activity and businesses. in the country, the

shortages have, and the ban on its non—essential imports like that of machines, auto parts, even electronics have all been lifted, giving a boost to the input driven economy of chillagoe. my conversations with people here reveal that underneath their sense of normalcy, there lies an undercurrent of instability and worry. prices up everyday goods have continued to soar. this coupled with lower incomes and higher taxes have caused living standards to drop. for small businesses, higher input costs are eating into profits. last year, this man was on the verge of closing down his restaurant. a year later, still struggling. most of the skilled labour have left the country. during the crisis, even i had 1a chefs inside my kitchen. by now i

only have two. i am recruiting weekly. as a businessman, i don't see refuge right now. in 2022, more than 300,000 left the country in search of a better future. the country in search of a betterfuture. the highest better future. the highest migration betterfuture. the highest migration in sri lanka �*s history. the brain trend of the most skilled, elected doctors, paramedical staff, chefs, most skilled, elected doctors, paramedicalstaff, chefs, it pa ramedical staff, chefs, it professionals paramedicalstaff, chefs, it professionals are leaving a critical gap that economists worry can affect the country �*s economic recovery. the government says imf financial support is helping stabilise the economy. the present consent for the current government is to finalise restructuring talks before the imf review in september. the government in china is proposing its foreign lenders to take a 30% cut on the principal amount owed. getting the bilateral creditors, especially china, to agree on these terms will be crucial for sri lanka to get the next

tranche of the imf funding sri lanka to get the next tranche of the imffunding in october. financial problems are not unique to the south asian nations for the global public debt has surged to a record of more than $90 trillion last year. a un report says governments borrowed more to counter crisis such as the covid—19 pandemic. the un chief told reporters some of the poorest countries in the world are now being forced into a choice between serving their dad or serving their people. to hollywood because the capital of american showbiz is facing the possibility of its first simultaneous strike by writers and actors in more than 60 years. the screen actors guild is currently taking part and talks about contract negotiations with film and tv studios. ~ ., ., , studios. without the actors, ou studios. without the actors, you cannot _ studios. without the actors, you cannot film _ studios. without the actors, you cannot film a _ studios. without the actors, you cannot film a thing - studios. without the actors, | you cannot film a thing going forward. if you cannot film a thing going forward. , ., ., , ~ forward. if they go on strike, they lose _ forward. if they go on strike, they lose reality _ forward. if they go on strike, they lose reality and - forward. if they go on strike, they lose reality and game i they lose reality and game shows _ they lose reality and game shows. they will start to feel

it because right now they stockpiled scripts and have things _ stockpiled scripts and have things in the pipeline. things they— things in the pipeline. things they think they can do without riders — they think they can do without riders. �* . ., , ., ., riders. actors are more powerful _ riders. actors are more powerful collectively i riders. actors are more i powerful collectively than writers _ powerful collectively than writers. you _ powerful collectively than writers. you go— powerful collectively than writers. you go to - powerful collectively than writers. you go to see - powerful collectively than writers. you go to see a i powerful collectively than - writers. you go to see a movie because — writers. you go to see a movie because of— writers. you go to see a movie because of your— writers. you go to see a movie because of your favourite - writers. you go to see a moviej because of your favourite stars on it — because of your favourite stars on it. �* ., ., . ~ because of your favourite stars on it. �* ., ., a ., ., ~' on it. before we go, quick look at asian markets. _ on it. before we go, quick look at asian markets. japan's - on it. before we go, quick look at asian markets. japan's nick| at asian markets. japan's nick cave filling the optimism we saw on wall street thanks to that quite good us inflation data. that is it that this edition of asia business report. back tomorrow, for now, thanks for watching. the trend that started roughly 18 months ago, that has an

accuracy landing. what is crucial in putting together landing correct, everybody is safe. all of them have landed safely. sky dived into my wedding and a beautiful sunday morning. the?c beautiful sunday morning. they ho -e the beautiful sunday morning. they hope they have _ beautiful sunday morning. they hope they have a _ beautiful sunday morning. they hope they have a new— beautiful sunday morning. they hope they have a new world record for the largest wedding party made up a broom and groomsmen to skydive into a wedding venue. after that, it is time to get married. the stressful — is time to get married. the stressful part _ is time to get married. the stressful part of _ is time to get married. the stressful part of the - is time to get married. tue: stressful part of the day is time to get married. tte: stressful part of the day so far. calm, cool and collected. jumping out of the plane was infinitely more stressful than this. ready for this very long time. t this. ready for this very long time. , ., q this. ready for this very long time. , ., _ , , time. i get the big fancy dress and he gets — time. i get the big fancy dress and he gets the _ time. i get the big fancy dress and he gets the fancy - time. i get the big fancy dressj and he gets the fancy skydive. i love — and he gets the fancy skydive. i love it — and he gets the fancy skydive. i love it i_ and he gets the fancy skydive. i love it. i used to skydive and — i love it. i used to skydive and i'm _ i love it. i used to skydive and i'm happy is happy doing it and i'm happy is happy doing it and as— and i'm happy is happy doing it and as long as they are safe, they— and as long as they are safe, they can _ and as long as they are safe, they can do it whenever. more

stories from _ they can do it whenever. more stories from across _ they can do it whenever. more stories from across the - they can do it whenever. more stories from across the uk. i stories from across the uk. head to the bbc news website. hello, iam hello, i am jack with the catch up. start with the news of the weight of the bbc news reader huw edwards named timothy present a patient is conduct allegations. suspended by the bbc after the sun newspaper published claims he paid a teenager or explicit images. a little earlier, the met police said there was no evidence of any criminality after looking at the sun �*s allegations. in a statement, his wife vicky flind says he is suffering from serious mental health issues and now receiving inpatient hospital care. once wanted to do so, he intends to respond to the stories published. the bbc says he will couple other stories. talking about the cost of owning your own home coming up and the bank that has dumpy maps and more

than1 million houses will that has dumpy maps and more than 1 million houses will be paying at least 500 more for their mortgages each month by their mortgages each month by the end of 2026, all revolves around the of living. a lot of info and advice and to be seen as apt under the tackling it to be seen as apt under the tackling get—together section. it has been a challenge for the thousands of people trying to get tickets for taylor swift's every tour. what for disabled fans, it is an even tougher for the accessibility place for the shows there are not solid by ticketmaster online. people need to call the venue directly, leading to much longer waiting times. wembley stadium told the bbc demand has been unprecedented. tonight, i'm going to be with ten seconds of cheapness overly because the giant pad has given birth to twins for the first time in korea yesterday. the female babies born hours apart and they are tiny, weighing just under 200g and they are tiny, weighing just under 200 g each. both mum and babies are doing well. you are all caught up now, see you later.

for a place in the wimbledon hello and welcome to sportsday. hello and welcome to sportsday. i am marc edwards from i am marc edwards from the bbc sport centre. the bbc sport centre. unstoppable alcaraz. unstoppable alcaraz. in the battle of the next gen superstars it's carlos alcaraz

who sees off holge rune