but the sport is far from the finish line when it comes to meeting their energy emissions goals. hello and welcome to asia business report. i'm arunoday mukharji. we begin in the us, where consumer prices have risen by more than expected last month, driven by higher costs for rent and fuel. the inflation rate rose 3.7% over the 12 months to august. that's up from 3.2% injuly. the figures underscore the challenges facing officials trying to stabilise prices, which soared last year at the fastest pace in decades. analyst dimitri zabelin says american consumers continue to feel squeezed by the rising cost of living.

a lot of the inflation, if you look at it in the us, is really coming from shelter and housing. and particularly you mentioned the cpi numbers earlier. while the headline cpi did increase, core cpi — which excludes volatile inputs such as food and energy — is actually higher. it's at 4.3%. and that's illustrating that underlying inflation seems to be a lot stickier than anticipated, which, as far as fed policy goes, means that rates likely have to continue to stay higher for longer. the federal reserve has been keeping rates high, and that is likely to be the strategy we are expecting to see? exactly, yeah, and there is other tools that potential they could leverage, such as reducing the size of the balance sheet, through so—called quantitative tightening, and that could push yields up and increase borrowing costs which, in essence, has similar effects raising interest rates. as far as markets go, they are expecting the fed to raise rates not at this upcoming meeting, i believe, next week but actually more likely in december.

dimitri, how have consumers and businesses really responded to the rising cost of living there and what is, in your opinion, going to be the short and long—term impact on the american economy? as far as the impact goes, the thing about monetary policy is that there's a tremendous lag effect, which is why we had that so—called hawkish pause earlier in the middle of this year. it allows fed officials, essentially, to assess the impact that fed policy is having on domestic economic growth. certainly, higher inflation is pinching the wages of workers. but if you look at, for instance, the eurozone and china, certainly, they are in a far worse off place than the us. when it comes to gdp, second—quarter gdp, on a quarter on quarter basis, it came in at around 2.1% versus the eurozone and china, which came in at 0.1% and 0.8% respectively. as far as the consumer goes, as long as inflation continues to remain high, certainly it'll eat into their wages. i think some things to look at in the future will be the resumption of student loan payments, for instance,

which actually may take away from some of the economic dynamism that's been fuelling the us economy, because those payments now, instead of going towards disposable goods orjust using that disposable income to purchase goods and services, it will then go to the debt service payment. so i think that's another headline risk to certainly be watching for and its impact on the us economy, both in the short and medium—term. dimitri zabelin there, speaking to us a short while back. one of the hottest ipos will begin trading later today. uk chip designer arm has priced its initial public arm has already signed up many of its major clients as cornerstone investors like apple, nvidia, alphabet and samsung electronics. arm priced its ipo at $51 per share, which will begin trading

on the nasdaq later today. the bbc�*s erin delmore has more from new york. if you have a smartphone, there's a 99% chance it's powered by a chip designed from the softbank—owned company arm. shares in the company are expected to begin trading thursday in the year's biggest ipo, which could raise up to $5 billion, taking the company's market value up to more than $50 billion. this is the first time in seven years that the company is selling shares to the public. last year marked the slowest yearfor american ipos in three decades, due in part to high interest rates, recession fears and geopolitical tensions. that's on the heels of a few tough years for ipos, prompting questions about why the british chip designer didn't get listed in london. analysis by the london stock exchange group showed that the 260 ipos that debuted with stock market values above $1 billion over the past four years are down 29% from their offering prices. that's according to reuters. for companies that are considering going public this year or early next, arm's ipo would offer some insight into whether the waters are warm or whether they're better off waiting on the sidelines.

and more broadly, a successful foray into the market would inject some confidence into the wider financial world. and as the world's largest economy debates whether to raise interest rates, central banks in china and japan have gone in the opposite direction. both the yuan and yen have been weaker agains the us dollar this year. kelvin wong is a market analyst. if you look at it from japan's cosmic perspective, the japanese yen has been weakening since the start of this year, so what we expect... we see the exports improved slightly. however, manufacturing actually slowed down injapan. so what we will see at this moment in time, inflation has started to directly pick up injapan, with

a potential... a confident forecast forjapan. hitting the target of 2% before 2023 and. —— before the end of 2023. this weekend, singapore plays host to formula 0ne�*s night race for the 14th time. 0rganisers have pledged to halve energy emissions by 2028, as the fi group is aiming for net zero by 2030. and that's a far cry from where they are today. our business reporter katie silver went on a mission to find out why. track—side, this year, the bright lights are a little bit brighter. they are not the traditional mental bulbs, they are led, which organises able reduce energy consumption by about a third.—

about a third. you have more with less _ about a third. you have more with less power, _ about a third. you have more with less power, which - about a third. you have more with less power, which will i with less power, which will last for ten times more. quite an interesting and big operation because we are working for three and a half months before the race. the installation process was quite massive. in installation process was quite massive. , . ._ , massive. in 'ust a few days, the world-s _ massive. in just a few days, the world's bus _ massive. in just a few days, the world's bus drivers - massive. in just a few days, the world's bus drivers will. massive. in just a few days, i the world's bus drivers will be here in singapore racing down these streets, under these led lights, and while the lights may be a step in the right direction, the question is whether a sport that is based off fast cars, plenty of petrol and flying all over the world can ever be truly sustainable. we have to look across our entire sport, from the cars going around the track, which are actually less then i% of our carbon footprint, although a three to the travel and logistics of how we get to these great events. we look at our cars and road developments. they are the most developed hybrid engines in the world. there will also be sustainable fuel by 2026.— fuel by 2026. last year, the singapore — fuel by 2026. last year, the singapore grand _ fuel by 2026. last year, the singapore grand prix - fuel by 2026. last year, the i singapore grand prix admitted fuel by 2026. last year, the - singapore grand prix admitted a

whopping... its pledge to have energy emissions over the next five years. energy emissions over the next five veere— five years. increasing the use of renewable _ five years. increasing the use of renewable energy - five years. increasing the use of renewable energy around i five years. increasing the use i of renewable energy around the circuit _ of renewable energy around the circuit of— of renewable energy around the circuit of this is true, first —— disaster for solar panels on the pit — —— disaster for solar panels on the pit building... -- disaster for solar panels on the pit building. . ._ the pit building... one of the ma'or the pit building... one of the major criticisms _ the pit building... one of the major criticisms when - the pit building... one of the major criticisms when it - the pit building... one of the i major criticisms when it comes to f1 and sustainability is the race schedule, and i times, how geographically nonsensical it is. it starts in the middle east before dashing to australia, azerbaijan, next of miami and then to monaco for this are the season in europe. this then gets and rubbed by a date in canada, a journey of some 6000 limiters, only for thejob is to go back again the job is to go back again to europe. then it is off to asia, singapore and japan, before a stop in the middle east, then to the us, all the way down to south america come back to the us for las vegas, a new street circuit, before the final in abu dhabi. that's right, back to the middle east which, you

might remember, is where it all began. it is something the sustainably had to says they are already tweaking. that is the real challenge _ are already tweaking. that is the real challenge we - are already tweaking. that is the real challenge we have i are already tweaking. that is| the real challenge we have at the real challenge we have at the world championship. two thirds of our carbon footprint is travelling logistics and thatis is travelling logistics and that is something that will be delivering against from now till 2030. ,, , , delivering against from now till2030. ,, , ' delivering against from now till 2030-— till 2030. support is f1 said it could help _ till 2030. support is f1 said it could help drive - till 2030. support is f1 said i it could help drive technology to make fuel more sustainable, but the finish line is still a long way off. katie silver, bbc news, singapore. in other news making headlines... a gathering of who's who in the tech industry have been meeting with us politicians in washington over the future of artificial intelligence. tesla's chief executive elon musk has called for a us "referee" for al. he was joined by meta's mark zuckerberg and alphabet sundar pichai. they are looking for ways to mitigate dangers of the emerging technology, which has boomed in investment and consumer popularity since the release of 0penai's chatg pt chatbot.

google parent alphabet is laying off employees from its global recruiting team as the tech giant continues to slow hiring. the company says the decision to let go of a few hundred employees is not part of a wide scale lay—off and will retain a significant majority of the team for hiring critical roles. it will also help the workers search for roles within the company and elsewhere. alphabet is the first "big tech" company to lay off employees this quarter. and that's it for this edition of asia business report. stay with us. thanks for watching. bbc news — bringing you different stories from across the uk. stunning natural beauty, but it comes at a cost. the popularity of areas like the llyn peninsula for second homes and holiday lets is one of the reasons people often can't afford to

buy in their own communities. gwynedd council wants fewer second homes and to force people to have planning permission to own one in future. but it admits that might lower house prices, which could hit current homeowners. it's a feeling of, "well, you know, why are the council doing this to my property?" and it's very easy to take it personally. changes to planning laws mean councils have more control over property use. second home owners here already pay much more council tax, and now gwynedd wants to use a so—called article 4 direction to bring in new rules. it says there's a huge housing crisis and will use whatever tools it can to let people live in their own communities. they desperately need to do something because there are whole villages where it's just empty. we've been coming on holiday to this area for years and we've been going to the same cottage. but now the council tax thing has tipped her over the edge, the owner, and she's no longer going to let it out to holiday makers any more, so she's put it up for sale. if the council decides to press

ahead with the controversial move, it will come into force a year from now. for more stories from across the uk, head to the bbc news website. hey, i'm stephen with the catch up! we're starting with calls for new trans guidance for schools. it's something that's been promised for five years, but still hasn't been finished by the government. it would cover things like what toilets and changing rooms students could use, where they'd sleep on school trips and how much parents should be told. we've been hearing from the parents of children questioning their gender identity. some want schools to tell them if their child wants to change their name or pronoun. others are worried that outing trans children to theirfamilies could lead to rejection. the government says it wants to take more time so the guidance gives proper clarity — in the meantime, it says parents should always

have a say in decisions about their children. you can read loads more about this on the bbc website. some other stories now. and an update on the death of 10—year—old sara sharif. she was found dead at her home in woking last month — the day after her dad, step—mum and uncle had left the uk. they've now been arrested on suspicion of murder after arriving on a flight here from pakistan. next — you've probably seen this shocking video of an american bully xl attacking people in birmingham. a 60—year—old man's now been arrested. 11—year—old ana paun was bitten by the dog and told us she was really scared. she is now out of hospital. you've heard of toad in the hole — tonight it's ten seconds of a cow in a hole. the bullock — and no, i didn'tjust swear — fell into a sinkhole on a farm in county durham. the good news is it's been

winched out and is now back in the field with its pals. you are all caught up. have a good night. hello and welcome to sportsday. iam marc i am marc edwards. here is what we have got coming up on our show. super stokes smashes his way into the history books. there's a new one day batting record for england. the sub squad for the springboks including four scrumhalves, as south africa ring the changes ahead of their match with romania. and it's a dream davis cup debut for draper as he downs kokkinakis to help great britain beat australia.

hello, and thanks forjoining us on sportsday. and we're going to start with cricket, where it's been another record—breaking day for ben stokes. the all rounder smashing his way into the history books with the highest score by an england batter in a one—day international, as he hammered a brutal 182 in the third 0di against new zealand at the oval in london. stokes had only come out of one—day retirement to play in this series and the world cup in india next month. and what a reminder of what the test captain brings to the shorterform of the game, nine sixes and 15 fours in his 124—ball innings. and that fabulous batting performance laying the foundations for a huge win, england all out for 368 before skittling the kiwis forjust 187 runs. the 181—run winning margin

is the eighth highest for england in 0di cricket.