shareholders are gathering for a tense meeting today. china makes a big move to stabilise its property market, pledging to buy unwanted apartments. welcome to business today. the chair of tesla has acknowledged that it will be like mount everest to convince shareholders to back a controversial plan to move the car—maker's headquarters so it can award its chief executive elon musk a pay package worth $56 billion. robyn denholm was speaking to the financial times ahead of a shareholder meeting next month. she said the vote was notjust important to the company but also to corporate america. the reason for the vote is that musk�*s pay deal has been blocked by a court in the state of delaware where the company is incorporated so tesla is now asking shareholders to support its relocation

to texas. joining me now is erin delmore, our north america business correspondent. we should stress that he is not talking about whether shareholders support the move and the paid package, but actually whether she can get a request it percentage of shareholders to a ballot. what is that about?— shareholders to a ballot. what is that about? ., ., ., that about? you are right. there are two issues here, _ that about? you are right. there are two issues here, getting _ that about? you are right. there are two issues here, getting people - that about? you are right. there are two issues here, getting people to l two issues here, getting people to vote, and getting people to vote at all. shareholders approve this pay deal back in 2018. it was losing money back then. now the company has a market value of nearly 570 billion dollars. their argument is that they set these lofty targets that the company tied to mask�*s pay. they say

he deserves the pay but a judge in delaware said that the process was deeply flawed. he ordered the pay to be re—suited. 0ne deeply flawed. he ordered the pay to be re—suited. one of the big things now is getting one of those shareholders to not only by guest, but getting retailers to vote yes. they hold a third of tesla's stock. no vote at all is a no vote. reading the tea leaves _ no vote at all is a no vote. reading the tea leaves of _ no vote at all is a no vote. reading the tea leaves of shareholder - the tea leaves of shareholder support, back in 2018 when this plan was put to shareholders, they backed it. as you say yourself, tesla has been on a roller—coaster sense, more recent times there is a sense that its search has run out of steam. what are the indications of shareholder sentiment? , , ., shareholder sentiment? sometimes you 'ust look at shareholder sentiment? sometimes you just look at the — shareholder sentiment? sometimes you just look at the markets _ shareholder sentiment? sometimes you just look at the markets and _ shareholder sentiment? sometimes you just look at the markets and what - shareholder sentiment? sometimes you just look at the markets and what we . just look at the markets and what we have seen out from tesla over the course of the year, sometimes 30,

sometimes even a0%. sales are falling and competition from china is rising. there are lay—offs, they have cut prices. the company missed expectations on earning and revenue. there is some controversy here, including around mask himself. especially around x of the social media platform. if mask does not get the pay, there is a fear that he could leave the company. some of that fear is weighing down tesla's share price. that is one of the things that they are grappling with. thank you very much. we are staying in the us now. we are staying in the us now. the aviation giant boeing faces shareholders in the next few hours at its annual meeting as it battles the worst crisis in its 108—year history. this week the usjustice department accused boeing of violating a criminal settlement over two 737 max crashes in 2018 and 2019

that claimed 346 lives. boeing was supposed to tighten up its internal compliance and ethics which the do] says it has failed to do and it could now be prosecuted. this comes of course after an incident injanuary this year when an unused door blew out soon after takeoff on an alaska airlines 737 max, sparking multiple investigations into boeing's safety culture. boeing ceo, dave calhoun, who took over in 2019 after the previous boss was fired, has announced he's leaving at the end of the year. but who will take on the role now described by some as the "toughest job in corporate america"? some shareholders want to see a new face from outside the firm. and there is another bone of contention. boeing has disclosed mr calhoun was awarded a pay deal of almost $33 million this year,

up 45% on last year despite a steep fall in the stock price. earlier i spoke to the leadership expert and he says boeing needs change from the top. this point about this entire saga is it's a salutary warning to all organisations and ceos of what happens if you forget your organisation's key values, your own moral compass, and focus totally on profits. and as for calhoun being on the board, as you pointed out so accurately, he was brought in to fix the culture. he was paid $33 million to fix the culture. and plainly, with what happened earlier in the year, with the blow outs and whistle—blower reports, he failed to do what he was being paid for. and how any shareholder can accept the suggestion that that individual should now move onto the board,

i think it's incredible indeed, to put it lightly. how can boeing's culture be fixed, though, and who is the person to do it? that's the question that the company is asking itself. whose names are in the frame? 0k. what is interesting is calhoun is hanging around until the end of the year. he says that so he can guide boeing onto the next person. maybe it's actually so he gets his full bonus, but that's neither here nor there. the problem is, every day he is there is dead time in terms of achieving the critical culture change that's needed because he doesn't have any credibility. what they really need is a new outside leader to build a new culture who has credibility, integrity, who leads by example because calhoun didn't is visible. calhoun doesn't and works openly with employees to empower them to do what they're good at.

which, again, calhoun didn't. so it's about finding someone who can achieve that. but also, as the culture moves forward, there will be toxic leaders still in boeing who stick to the old ways of not doing what should be done to optimise something they need to go. there's shanahan from sprint in the frame, but sprint has delivered some stuff to boeing that is of questionable quality. there's dave gitlin who's already on the board. so he's tainted. perhaps the one name that seems to be viable is greg smith from american airlines who knows how to run an airline and isn't in boeing. to china now, where the government has stepped in on the ailing property sector, offering what it describes as "historic steps" to offer stabilility. china's central bank is making available 138 billion dollars in extra funding and easing mortgage rules.

local governments are set to buy some apartments to bolster some unwanted apartments to bolster the crisis—hit sector that's been working as a drag on the whole economy. china expert duncan wrigley described the scale of the problem. what we've heard today is from various officials, it's helpful, but it's probably not a panacea. so you're right, there's moves to boost housing demand through easing mortgage terms, allowing people to borrow more. lowering interest rates that should boost housing demand. but a lot of that will go into the second hand housing market where there's a big overhang. the second big policy is allowing governments, especially local governments, to buy up some of the unsold housing inventory that's on the market right now, really weighing down on those developers. that is interesting. but i think there is still a big question about whether there's

enough funding there. the central bank announced a bit of funding, but it's probably not enough compared with the size of the inventories right now. yeah, and some is the operative word there. we don't know exactly how many of these unwanted units are going to be bought, butjust remind us what this means for the rest of us, because, of course, as the rest of the world emerges from this inflationary crisis, and there's been a lot of nervousness about what a chinese property crash could mean to two international markets. yeah. i mean, i would say actually the chinese property market has been in this kind of slow crash really since the second half of 2021. now, it hasn't been the same kind of systematic, massive financial crisis as, say, we saw in the us in 2008. it's a bit different. it's got chinese characteristics. the big feature in china is it's really hit economic growth, it's hitjobs, that kind of thing.

but we haven't seen the same systematic financial crisis and i don't think it's going to have that same kind of effect where the rest of the world. one key reason is, you know, china's financial system isn't as integrated as america's was with the rest of the world. and you don't have all these crazy leveraged instruments that featured in that crisis. some reassuring words on china. to india now and a scandal that has threatened the reputation of one of its most famous products. uk food regulators have told the bbc that they have tightened up checks on all indian spices after allegations that high levels of cancer—causing pesticides have been found in two top brands. india is the world's biggest producer, exporter and consumer of spices and the reports have sparked global concern. the bbc�*s india business correspondent, archana shukla, has more. at the heart of this crackdown is a cancer causing pesticide ethylene oxide used to avoid

microbial contamination on spices. now higher levels of this pesticide are being investigated. the uk food regulator has told the bbc it has been issuing early warning alerts for ethylene oxide and various spices from india since january 2023 and since the start of this year, has ramped up scrutiny to cover all spice imports from india. now, this is a stringent action. remember, so far, two popular indian brands, mdh and everest, were under the scanner. singapore and hong kong have banned their spice mixes, like the fish curry masala or sambhar masala for higher levels of this pesticide. and now the us, fda, australia, new zealand, even the european union are all investigating products from these two companies on their part, though, both mdh and everest have maintained that their spice mixes are safe. this issue has also led the indian government and food regulator to spring into action. even they are testing samples. remember, india is the largest consumer of spices and is also one of the largest exporter of spices.

and the indian spice board that controls these exports has now issued guidelines to check for the use of pesticides. but experts say maybe these checks are coming in a bit too late. india exports $4 billion worth of spices and quality concerns on leading brands and regulatory actions could have cascading effects on export markets. always more stories on our website. that is your business today. do stay with us here on bbc news.

you are live with bbc news. i want to turn straightaway to breaking news coming with us from israel. just in the last ten minutes we heard from the chief military

spokesman there. he says that they have recovered the bodies of three hostages from gaza. they have been identified by the idf spokesman. he said that he had been killed at the supernova festival on october the savants, with their bodies taken into gaza. we know that over 100 hostages are still being held. the majority of those are still alive, we think, but we knew that a number of dead hostages and bodies had been taken into gaza on that day. that's news is just coming to us from the idf chief military spokesman. he has been briefing the media. let's listen to some of that. it is been briefing the media. let's listen to some of that. it is with a heavy heart _ listen to some of that. it is with a heavy heart that _ listen to some of that. it is with a heavy heart that i... _ listen to some of that. it is with a heavy heart that i... they - listen to some of that. it is with a heavy heart that i... they rescue | listen to some of that. it is with a l heavy heart that i... they rescue to the bodies of our hostages. they