elon musk rebrands twitter, and suggestions his focus has now shifted to building it into an everything app. sell—out stadiums and high viewership for the fifa women's world cup tournament. but can this translate into lasting returns? welcome to asia business report. i'm mariko oi. it's official. elon musk has killed off twitter�*s recognisable bird logo with an x. it's part of a bid to rebrand the platform as advertising revenue continues to flounder, and under its new identity, a post will also be called an x rather than a tweet. the rebranding could be part of a push to make twitter into a super app. the service formerly known as twitter is reborn as x,

it's the latest big change since elon musk bought the social media platform for $41; billion last year, and at the weekend, he said he was ditching the famous blue bird and changing the logo of twitter to an x. ceo linda yaccarino addressed the rebranding in a memo to staff that was obtained by cnbc, she claimed usage was an all—time high but did not share any specific metrics. and as to what x might look like, in terms of changes in audio, video, payments and banking, it's no secret that elon musk wants to transform twitter into a super app, similar to china's wechat and indonesian social media platforms. these apps let people send and receive payments and content, and access things like food deliveries. but do the us consumers want such a super app?

they already have easy access to many of these services. but for twitter, traffic and ad revenue is down, and it's now got a smaller workforce to pull off such a huge transformation. not one to shy away from hyperbole, elon musk believes, if done right, x could become half the financial global system. shaping up to be a big week for big tech. microsoft and google parent alphabet also due to report earnings, and it comes at a time when both tech giants are making inroads in artificial intelligence and making plans to start charging for them. i spoke to peter maguire about the appeal of such a subscription model. it's a competitive landscape.

it will be interesting, the ai modeljet—fuelled rally has pushed nasdaq over the last six or seven months. investors seem to have liked the announcement of their subscription model, but could there be fatigue? certainly could be, it's early days, and as you say you have to talk about the fatigue that comes in normally after eight or 12 months, and then competition forces determine what is real value. we just have to work through that, and that is all about the future. at the moment, it has certainly been hotly contested, it's a competitive landscape. you mentioned competition. google parent alphabet announcing its version. also apple wanting to come up with its own chatgpt as well. and chinese companies as well. who has the advantage? is it still microsoft/open ai? absolutely, at the moment

microsoft is a clear winner, and it has rapid integration into the marketplace, it seems to be a long way in front. but i feel in some ways the competition is closing the gap. but it will take time. it's going to be a fascinating 6—9 months ahead as the other competitors join the ranks and see who is going to have the best product moving forward. what about concerns over misinformation and so on? do you think tech giants are doing enough to address them? that's a hard one to determine. everyone has an opinion on it. it seems to be the course of events. i'm not sure who's going to be correct and who's not going to be correct. that's the open debate with a system like ai, the intelligence going into it. that's going to be a fascinating outcome. meanwhile, adidas said its second—quarter operating

profit slipped 55%, but the sale of its inventory of kanye west's yeezy products in may will help it to post a lower annual loss than expected. adidas ended its partnership with mr west last year and in turn wrapped up the production of the highly successful yeezy line. ubs has been ordered to pay almost $390 million over credit suisse�*s dealing with a private investment firm. ubs officially took over the troubled swiss bank last month, inheriting its legal issues. credit suisse lost over $5 billion when the investment firm defaulted in 2021. gdp in south korea grew half a percent on a quarterly basis last year and that could have an impact on how the bank of korea moves when it meets next month.

it was one of those in asia who aggressively hiked borrowing costs starting from 2021. earlier, i spoke to an oxford economist who explained how the latest data could influence the central bank. it is possible the bank of korea, one of those that aggressively raised interest rates, will cut back, but we don't think it's going to be just yet, especially given they are an inflation targeting bank, and even though inflation has been coming off, it is still above the 2% target, and i think the last one was 2.7%, but it has been declining... as you mentioned, inflation still at 2.7%, close to the 2% target but still not there yet, so why not wait until they actually manage to hit the 2% target? it's a tricky decision. the fact is they stopped raising rates when inflation was above 4%, which was double the target, and the textbook

says that if an inflation targeting bank, and inflation is more than double the target, you raise interest rates. but they have come to the conclusion that the balance of risks has shifted. while they did want to curtail inflation, and inflationary expectations had to be kept in check, which i think they have succeeded in doing, the balance of risk now shifts to worries about growth and what that means for the banking sector etc. so i think they are going to cut rates, it's just a question of when. the next meeting, a month away, a lot can happen in a month, but as matters stand today, we think that might be a bit too early, but probably by the next meeting, bank of korea cuts are very much in play. apple has found itself the target of a $1 billion lawsuit brought by more than 1,000 app developers in the uk, over its app store fees. the company charges commission of 15—30% for use of an in—app

payment system, the claim is that it's excessive. apple and the app store is worth $20 billion per quarter. the second week of the fifa women's world cup tournament is under way. co—hosted by australia and new zealand, the event has seen sell—out stadiums and two billion people around the world are expected to watch it on television. this is the sydney football stadium. but last thursday, when the matildas took to the field, they couldn't play here, they had to play at another stadium on the outskirts of town because demand for tickets was so strong. 76,000 people turned up to watch them, and at home, almost five million australians, a fifth of the population, tuned in to watch. but it's notjust for the home team. france and jamaica played here on sunday night, and the stadium was full then too. so the question is, with this level of interest, can it be converted to real financial gains for the local league? if you go to a match, it is...

nick garcia is the commissioner of the a—league, the national soccer league of australia. he says despite this growth, the women's game doesn't yet break even. i think in the women's game, it is about investing for the future. the losses aren't dramatic. and i think it will be interesting to see how teams really capitalise on this women's world cup. you've only got to look at the euros in england recently, and the 80,000 they packed wembley out with for the women's fa cup final. so i think it's a real mark, and you would really look at the women's game globally, it is an investment for the future. i think it's really important that club owners see it that way. it's not a cost centre, it's an investment, and i'm 100% sure it will pay off. and there's a hope that this world cup will generate those investments, and leave a lasting legacy at both the professional level and the grassroots as well. katie silver, bbc news, sydney. you can read a lot more about the latest action from the tournament on the bbc website, so check that out.

luxury giant lvmh will sponsor the next olympic games in paris, and notjustany sponsor, but a premium one. lvmh said the brand will play a role by sharing its creativity and craftsmanship throughout the games. the terms of the deal haven't been disclosed but it's expected to be worth $160 million. let's quickly check the japanese market. flat despite an ok performance by wall street overnight. that is it for the programme, thank you so much for watching the show. bbc news — bringing you different stories from across the uk.

cows on quick peek, controlled by the colours around their necks. ., .., , by the colours around their necks. ., .. , �* ., by the colours around their necks. ., , �* ., ., necks. you can see we've got a solar panel— necks. you can see we've got a solar panel on _ necks. you can see we've got a solar panel on the _ necks. you can see we've got a solar panel on the back - necks. you can see we've got a solar panel on the back which l solar panel on the back which charges the battery. they are nice and lightweight and flexible so the cows have plenty of room to move, and there is a gps locator on the top so we can see exactly where they are at any time, and that links to the virtual sense art behind us, which can be wherever we wanted to be. the national trust _ wherever we wanted to be. the national trust can map out an area they want grazed on a mobile phone app, if a cow then approaches the invisible boundary, it first appears several music alerts, and if it doesn't turned back, instead trying to cross the virtual fence, the cow gets a mild electric shock. all this tech ensures the whole of this beautiful limestone landscape is kept grazed. we beautiful limestone landscape is kept grazed.— beautiful limestone landscape is kept grazed. we can be quite ic , is kept grazed. we can be quite picky. they _ is kept grazed. we can be quite picky. they will _ is kept grazed. we can be quite picky, they will choose - is kept grazed. we can be quite picky, they will choose the - picky, they will choose the

best grass, sometimes we want them to get into the scrub, the less delicious stuff, trample it down and create more sunlight. now we can force them to do that using the virtual sense. a bbc investigation looked into how drug dealers could be using social media to groom and exploit children. dame rachel de souza, the children's commissioner for england, says it confirms what children tell her about not feeling safe on social media. snap trap — is your child safe, is available. there is support on the website — bbc.co.uk/actionline wildfires continue to sweep across parts of europe, with some countries facing their worst fire seasons so far.

10,000 british tourists are on the greek island of rhodes, where many holiday—makers have been forced to evacuate and move to shelters. airlinesjet2 and easyjet are planning flights from rhodes to bring people back to the uk. twitter has changed its brand and logo, swapping out the famous bluebird for an x. the owner elon musk says tweets will now be known as x's. you can see the updated branding on the desktop version of the social platform. but it hasn't appeared on the mobile app yet. barbenheimer fever. the barbie and 0ppenheimer movies took £30 million in the uk over the opening weekend in cinemas. in north america, barbie broke the opening weekend record for a female director, bringing in $155 million. we will leave you with ten seconds of snakes on a train. passengers on a train from skipton to leeds were shocked to find

a five—foot snake roaming around in their carriage. the harmless corn snake, which has been named noodles, was collected by the rspca and taken to specialists. you are all caught up now. see you. hello and welcome to sportsday, i'm tulsen tollett. saudi arabian side al hilal

offer a world record transfer fee for kylian mbappe. brazil strike fast and early as zaneratto adds to a borges hat—trick in their 4—0 thumping of panama. and starting new lives in australia — we catch up with players from the afghan national women's team. hello and welcome along to sportsday, where we start with the news that saudi arabian side al hilal have been given permission to talk to kylian mbappe, after reportedly making a world record bid of over $330 million for the paris saint—germain forward. the 24—year—old france captain only has a year remaining on his contract, and french footballjournalist robin biner thinks it may happen.