and its head says there might be more to come. plus might be more to come. the latest from the earnings plus the latest from the earnings season. airbus and boeing have both released their latest quarterly results. welcome to asia business report, with me, mariko oi. our top story for you this morning, the us federal reserve has moved to hike the cost of borrowing once again. the central bank raised interest rates by a quarter of a percentage point, bringing it to the highest level in 22 years, and as my colleague michelle fleury explains, they have left the door open for more. the federal reserve has moved with unprecedented speed to get inflation under control. since march of last year, it has raised its benchmark rate by five and a quarter percentage points. its latest move is likely to pick up the cost of borrowing for american businesses and consumers even further, with inflation showing prices rising more slowly than a year ago, the key question at the press

conference was whether this rate increase was the last or would it hike again later this year. fed chair, jerome powell, would not be drawn. i would say it is certainly possible we would raise funds again at the september meeting, if the data warranted it, and i would also say it is possible that we would choose to hold steady at that meeting. mr powell was clear however that the fight against inflation is not over. policymakers inside america's central bank remain concerned that the world's biggest economy, well, that it is still growing too fast for inflation to fall back to its 2% target. everything from travel bookings to the sale of concert tickets, and even the success of the barbie movie's opening weekend at the box office, were all signs that americans are still spending. the latest us growth figures, due out on thursday, are likely to confirm a moderate expansion. so, for now, the fed is still hoping it can get inflation under control without triggering a recession. earlier, i spoke to frederic neumann from hsbc,

who gave us his assessment on whether the fed's language was clear on the next step. well, not 100% clear, because the chair left the door open. they could hold the next time round or they could raise rates again, and we usually see that prevarication at the end of a tightening cycle, but as the central bank says, "you know what, we've done a lot, we need to see how "the previous interest rate hikes affect the economy, "so we're watching the data". so we are not 100% certain what's going to come next. opinions seem to be split, in terms of the european central bank, and what they are going to do next as well. what is your assessment on that? well, here we have a fairly clear signal actually that the ecb is still raising interest rates, but here too in europe, going forward, we are probably closer to the end of the tightening cycle

than the beginning, because you see the economy is starting to respond to early interest rate hikes, and eventually inflation will drift lower, and of course central banks look forward six to nine months, so we have to think about where will inflation be early next year, if we change interest rates now, and so that's why we are getting closer to the end of cycle there as well. in terms of the bank ofjapan, which has a new governor of course since april, there were some expectations among investors and traders that they might actually start to change its monetary policy, but they haven't really done that, so what are you expecting there? well, they meet a day later, on friday, and here, as you rightly say, there was an expectation that they might nudge up long—term interest rates just a little bit. those expectations have faded a bit. it is not clear whether they will do it now or maybe later in the year, but it looks quite likely they will do this as well before the end of the year, because japan, like the us and europe, has seen inflation rise

as well, but of course the bank of japan hasn't hiked at all yet, and so we are still waiting for that first tweak to policy, just to tap the brakes a little bit and help to cool down the economy. and i just want to ask you, it is easy to criticise those central banks, but they have a really trickyjob to do, and in terms of tackling inflation while not pushing the economies into a recession, so far at least, have they actually done a pretty decentjob? actually, yes, we need to give credit where it's due, at least at the time being, it looks as if no central at least at the time being, it looks as if most central bankers have engineered a soft landing, after what was a really stunning surge in inflation they had to respond to, and so it is easy to point the finger, and say you shouldn't have let inflation out of the bag in the first place, but of course it was unusual circumstances, coming out of the pandemic. few people could have foreseen that, and so central bankers probably get a pass on this one. just having managed so far a fairly gentle interest rate hike, and not really prompted a recession just yet.

and of course we are in the middle of the earnings season, and both airbus and boeing have stepped up their deliveries of commercial aeroplanes in the first half of this year. both manufacturers released their results earlier, and they reported a jump in revenue, but it was a bit of a mixed bag when it came to profits. airbus reported a net profit of more than $1 billion in the second quarter, but boeing went into the red, after delays and cost issues in its defence and space grams. greg walden is asia managing editorfor the aviation industry publication and he gave us his take on who is taking the lead. it is a very lively segment once again, aerospace and for the manufacturers. airbus i guess has a bit of a lead, especially in the narrow by segment, because boeing had several issues with the 737 max, compounded by the pandemic. but both plan to increase

production, but the problem is they still have supply chain issues, which have really bedevilled both air companies for some time. i want to ask about china's ko mac as how much better it are they to both airbus and boeing? on the international air market, they are not a threat because they're not certified to fly in most markets but in china you can see them towards them march towards them, because the chinese airlines, so i think comac will be a threat in china and that is significant because they are a significant because they are a significant aviation market. speaking of earnings, meta saw its second—quarter revenue grow to $30 billion, beating estimates.

that was thanks in part to ad revenue of 12%, beating google. still the company forecast that expenses could rise over the next two years, as they continue to spend on infrastructure, as the artificial intelligence race heats up. american toymaker mattel has posted profits over $1 billion. the company is banking on the box office success of the barbie movie to help drive doll cells in the second of the year. it saw a second record—breaking weekend, raking in $162 million in ticket sales in $162 million in ticket sales in the us and canada. south korea's samsung electronics has reported a 95% plunge in quarterly profits. that is broadly in line with its earnings guidance published earlier this month, partly due to a downturn in the chips industry as demand weakens.

this marks samsung �*s second lowest quarterly profits in 1a years. now, the fifa women's world cup kicked off in australia and new zealand of course last week and it could actually bring in a significant tourism boost to both countries. katie silver has more. ., �* , countries. katie silver has more. ., �* . ~ countries. katie silver has more. ., h . ., more. that's right. we are estimating _ more. that's right. we are estimating about - more. that's right. we are estimating about 55,000 i estimating about 55,000 international tourists are due to come to australia as a result of this trip, and to give you an idea, tourism australia says hosting the world cup will actually generate about 385 billion australian dollars, or more than a quarter of a billion us dollars for the us economy —— 385 million australian dollars. they could not, at a better time as the industry continues to recover from covid—19. australia closed its borders for the best part of two years and that really shut down the tourism industry, which traditionally had provided huge, significant proportion australia's economy. it's really important industry here, so 55,000 tourists expected to come. cumulatively they are

expected to spend about $170 million, about 120, 130 million us dollars. in terms of country of origin, the vast majority are coming from the us. we have only seen that here in the fan zone for example, filled with fans who have travelled from the us. we have also had when it comes to new zealand about 20,000 americans have travelled there to watch the american teams, the first three games of the us are being played there. following the us we're also seeing them come from england, germany, new zealand and ireland. we're also hearing that hotel capacity here in sydney for example is up to about 70%, higher than usual, we have also heard they are going to be staging a tourism campaign around this world cup, and researching as to how effective it is, and then using that research to generate and decide how they are going to state that tourism campaign when they host the olympics here in australia in brisbane in 2032. so interesting learning is to be gained by the tourism industry here, and as i say, a huge boost for the

economy. 385 million australian dollars or a quarter billion us. �* ., ., _ , us. before we go, payments processing — us. before we go, payments processing firm _ us. before we go, payments processing firm mastercard i us. before we go, payments i processing firm mastercard has told financial institutions to stop allowing its debit cards to be used to buy marijuana in america. most banks in the us already do not service cannabis companies, as marijuana remains illegal at a federal level, despite several states legalising its medical and recreational use. and a quick look at markets before we go. japan's nick cave flat. investors digesting that news from the federal reserve. that's it for this edition of asia business report, i will be back tomorrow morning, so join us and if you can, but for now, thanks for watching. bbc news, bringing you different stories from across the uk. cows on crook peak, controlled by the collars around their necks. so you can see, we've

got a solar panel on the back here, which charges the battery. they are nice and lightweight and flexible so the cows have plenty of room to move around, and then there is a gps locator are the top there, so we can see exactly where the cows are at any one time, and that links to the virtual fence, which is up behind us, but wherever we want it to be, really. the collars mean 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 hears several music alerts, and if it doesn't turn 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. they can be quite picky, they will choose the best grass that they want to eat, and sometimes what we want is for them to get into the scrub, some of the less delicious stuff, trample it down and create more sunlight for those species—rich small plants that live on the ground, so now we can force them to do

that, using the virtual fences. for more stories from across the uk, head to the bbc news website. hey, i'm zof with the catch up. today, air pollution and our health, a victory for wrexham, and a rat where it shouldn't be. struggling to find a place to rent? well, new stats show there are nearly three times as many people at flat or house viewings compared to 2019, and you are probably up against 20 other people each time, 30 if you are in the north west of england. now, it's notjust people looking for a place that are struggling. for people already renting, no—fault evictions on the rise, currently at their highest level since 2017. some other stories now, oscar—winning actor kevin spacey has been found not guilty of nine sex offences. the 64—year—old cried as the verdict was read out in court, and said he was

humbled by the outcome. and new research has found the impact air pollution is having on our health could be more than we thought. it is also costing the nhs. the project in bradford has looked at four years of data, and found that of everyone attending a&e there for breathing difficulties, almost half were linked to air pollution. and in sport, good and bad news for wrexham, as they beat man utd 3—1 in the us, but their forward player paul mullin punctured a lung after a collision with man u's goalie. and little mix�*s leanne kiernan has received an honorary doctorate, which basically recognises people's achievements and contributions to society. she's been awarded this from bucks uni for her anti—racism and racial equality work. time now for ten seconds of a musical rap. shakira has released a music video for her new track, copavecchia, and yes, that is a rat crawling right by her head.

what a nightmare. no thank you. you are all caught up now. see you later. hello and welcome to sportsday. i'm mark edwards. here's what's coming up on our show. sensational spain steamroll

zambia in stunning style, sailing into the last 16 at the women's world cup and japanjoined them after beating costa rica 2—0. england unchanged for the final ashes test, which means a0 year old bowlerjimmy anderson keeps his place. and a year and counting until the paris olympics begin as they prepare to put on the most sustainable games of all time. hello and thanks forjoining us. we begin at the women's world cup, where japan and spain have become the first teams through to the knockout stages of the tournament. both teams looking in impressive form. spain easing past zambia and japan, seeing off

costa rica to maintain their perfect start.