china appoints a new head

for the central bank as top officials signal more support for its slumping economy. and it is the start of earning season for big tech. both alphabet and microsoft have reported strong welcome to asia business report. we will get to china moment but first some breaking news because boss news because natwest boss alison rose has stepped down as the chief executive, with immediate effect. this was after she admitted discussing closure of nigel farage�*s the closure of nigel farage�*s bank account with the bbc�*s is she this editor simon jack. she said this editor simonjack. she said she was wrong to respond and they have been some closure and they have been some government pressure on her to have just learned resign and we have just learned that she has decided to step down. �* to

that she has decided to step down. �*to china. while the removal of its foreign minister has been making headlines, taking the helm of the time of the chinese economy is seeing slumping activity. the top decision—making body in beijing, the politburo had also earlier pledged to shore up support for the economy. earlier i spoke to someone who explained the direction the central bank could take now. he has a reputation of regulation and compliance and is conscious about containing financial risk. but he is a market—oriented mind so i have no doubt policy will return in the next few months but whether it will be different i have doubts, because maintaining economic stability is still number one key. we will see more expansionary in monetary policy but it will not be more aggressive. interesting because there have

been small announcements to stimulate the economy but there was no major announcement. going forward what you expect? many experts say that beijing needs to announce something. the housing market is key. yesterday there was no mention about housing and people had high hopes that there may be more relaxation in home purchases and also the financing for the real estate developers. but from the economic perspective it seems that more focus will be on affordable housing and shanty town renovation in cities and construction. in terms of consumption there was also mention about boosting tourism and an increase in income because of the the increase in propensity to consume. i am curious about how the government intends to achieve it because there must be some kind of cash transfer.

you spoke about boosting people salary but another big headache for beijing is the high unemployment rate especially among the country's youth. is there anything beijing can do to support that? so there anything bei'ing can do to support that?_ to support that? so far the oli to support that? so far the policy focus _ to support that? so far the policy focus is _ to support that? so far the policy focus is still - to support that? so far the policy focus is still on - to support that? so far the i policy focus is still on asking universities to absorb those young graduates a bit more in their graduate programmes and, also, the government in western and central china are encouraged to increase employment. private companies are encouraged to take on more graduates. i don't think this is a fundamental solution. a better way would be to boost domestic growth and that can create a better service sector which can provide job create a better service sector which can providejob positions for educated youth. which can provide job positions for educated youth.— for educated youth. despite a slowin: for educated youth. despite a slowing chinese _ for educated youth. despite a slowing chinese economy - for educated youth. despite a slowing chinese economy the| slowing chinese economy the monetary fund has up graded its

outlook for this year. they now think the global economy will grow 3% in 2023. the imf has highlighted future concerns such as rising interest rates as well as china's shallower than expected post covid economic rebound. it is also a big week for big tech and both microsoft and alphabet have reported their latest quarterly earnings and both saw their profits soar. both companies are locked in a race to develop artificial intelligence tools but as my colleague explains that is not quite driving future revenue just yet. when it comes to cloud services microsoft and google's parent company alphabet major players in a field that continues to drive profit. microsoft's quarterly profit grew thanks to the strength of its cloud computing unit and sales from microsoft's intelligent cloud business, its biggest revenue driver grew 15% from this time last year to $24 billion. but that was perhaps less

than wall street was hoping for because the share price initially traded lower. focusing on the big bit of artificial intelligence the ceo said we remain focused on leading the new ai platform shift. microsoft is not the only tech giant investing heavily in al. alphabet is developing and deploying al to improve its search as well as other products. that along with a slight improvement in the digital app market helped it turn a net profit of $18.4 billion in the last quarter. its cloud business also enjoyed strong positive momentum revenue. and musical chairs at the company, google said its finance chief would become its chief investment officer starting in september. meta is also due to report results after closing bell on wednesday and the focus

will likely be on guidance around new offerings such as threads and its ai chat service. earlier i spoke to someone who explained what the current focus of meta might be. the meta—verse has been a disasterfor them. they lost almost $13 billion on it last year. they are still important in the vr race but apple have come out with a robust piece of hardware and i don't think the metaverse will make any money for them anytime soon which is why we see them pivot to going after twitter and, more recently, going full steam ahead into ai. i wanted to ask about al. it is getting rather crowded and microsoft and alphabet now trying to make money out of it as well. in your view, what will likely be the model? ad supported or subscription model? this is an interesting

question. meta has made their ai offering open source which is different to gpt�*i which is an api you have to play for. the business model is unknown and really i think the first phase is who will win and then they will figure out how to make money later. but there will be a lot of regulatory and copyright issues that need to be understood before we can even talk about making money. this is somewhat of a bubble. who will win, that is the big question. is microsoft/open ai that has the advantage? they are in the limelight right now. making everything free is something that meta had to do, it is a step in the right direction but with the massive amount of data that google has available you cannot count them out. visa has reported that small is jumping quarterly profits in

two years. it including one—time cost the company posted a profit of $4.5 billion, an increase of 7% from one year ago. consumers have tightened their spending is borrowing cost rises and a possible recession continues to loom. as we told you in newsday it has been six days since the women's world cup kicked off in australia and new zealand. it will run until august 20 and it is estimated that more than 2 billion people will tune in to watch the tournament. that is a jump from just over one billion in 2019. it certainly has been a big debate and issue in the lead up to the tournament, how much broadcasters around the world would be willing to pay for those rights. the head of fifa called it insulting, the office coming —— offers that were coming in from around the world. for example the uk reportedly were offering 5—6% of what they offered for the men's world cup and that was $9 million and they offered allegedly $200 million for the men's world cup

have the right to show the qatar world cup. in europe things were even worse. for example italy offered $1 million to show the women's world cup. they have the argument that because of the time zone here in australia and new zealand the games are not as convenient to watch in europe and there for they do not attract the same level of broadcasting rights but it does raise an issue for fifa about whether or not they should play hardball and attempt to attract great funds, for example at one time there was talk of a blackout in europe where people were not even going to be able to watch it because fifa was not happy with the offers or whether they should be offering it at a lower amount in order to continue to generate interest, create a legacy and there for, in the future, be able to attract more funs. one issue here in australia is 5 million people watched the matildas last thursday when it was aired on free to air but to watch the other games you actually have to have a very bespoke expensive subscription with a telephone service in order to see those games

and makes it quite inaccessible and people are therefore saying that is an impediment into really generating a buzz around the world cup, the games are difficult to watch. that is one of the paramount questions here when it comes to the issue of broadcast rights and whether or not fifa plays a long—term game to try and generate eyeballs all the short—term game, as i say, and make it more expensive in the short term. these are questions that are probably somewhat above my pay level but it has been an interesting debate in this world cup. that is it. i will be back tomorrow morning sojoin me if you can. thank you for watching. this is a former drug dealerfrom cardiff who

watching. this is a former drug dealer from cardiff who was hooked on heroin from the age of 14. he also took bills, and so diazepam is but not the ones from the doctor, for quantity purchased on the street and online. they are often called benzos and they are sedatives. you may know them by the name of diazepam, valium xanax and there are concerns that people are increasingly purchasing them online, thinking they are getting legitimate pharmaceutical products. the latest figures suggest there were 61 drug deaths in wales involving benzo, up from previous numbers.- involving benzo, up from previous numbers. the problem with all of _ previous numbers. the problem with all of these _ previous numbers. the problem with all of these drugs, - previous numbers. the problem with all of these drugs, they - with all of these drugs, they are not real.— with all of these drugs, they are not real. testing done here at this laboratory _ are not real. testing done here at this laboratory has _ are not real. testing done here at this laboratory has found - at this laboratory has found many drugs borderline and not what they claim to be. two in every five samples tested contain something different. he has now turned his life around

and has been clear of drugs for five years. he hopes by speaking out he can make more ““"'a';a’gayiag”' " ' ' "'"’a';azaayaig'ih'ea " ' ' 17"qeebinrig’ifieasfilihe. ' ' hello, i am callum with the catch up. first, the number of people living in temporary accommodation in england is the highest since records began. on march 31 there were almost 105,000 households in this position including more than 131,000 children. chantelle was staying at a hotel in plymouth with her partner and two children after the family a landlord can evict tenants without a reason. it is difficult because you don't have anywhere to cook or sleep. it is not ideal with two kids.

you have to go out every day. next, spotify is increasing the cost of their subscription for everyone except students. family, duos and individual plans will go up by £1 each, while student plans stay at £5.99. this is the first increase since 2011 and spotify say this will allow them to continue to deliver to fans and artists on their platform. some other stories now. does anyone fancy a dip in the river seine? the seine, which runs through paris, will soon be it seems that social media platforms are expanding every day. tiktok has announced they will launch a text only post, coming after the launch of a new music streaming of twitter to x. look at this.

white shark chasing prey at 400 feet.

celebrations all round, as the philippines down