meal deals sent shares up by over 3%. with the latest, al bbc north america business correspondent. m0 bbc north america business correspondent.— bbc north america business correspondent. no amount of secial correspondent. no amount of special sauce _ correspondent. no amount of special sauce can _ correspondent. no amount of special sauce can make - correspondent. no amount of| special sauce can make higher prices more palatable, as mcdonald's has found out. sales at the burger giant spluttered, consumers around the world shying away from the higher cost of burgers and fries and soft drinks. even the ceo admitted it was too expensive. last year we warned of a more discriminating consumer, particularly among lower income households. as the year progressed, those pressures have — progressed, those pressures have deepened and broadened. gn have deepened and broadened. on a have deepened and broadened. (jim a call have deepened and broadened. a call with have deepened and broadened. q�*i a call with investors, mcdonald's said food, labour and paper cost has risen as much as a0%, forcing it to raise prices. but one analyst we spoke to noted that the golden arches had been fast on the draw with price hikes than

its rivals. n ., �*, the draw with price hikes than itsrivals. n ., k, . its rivals. mcdonald's pricing increases — its rivals. mcdonald's pricing increases have _ its rivals. mcdonald's pricing increases have been - its rivals. mcdonald's pricing increases have been faster l its rivals. mcdonald's pricing i increases have been faster than the rest — increases have been faster than the rest of— increases have been faster than the rest of the industry. consumers are savvy and have been _ consumers are savvy and have been aware, so that needs to narrow— been aware, so that needs to narrow after having the cheaper menu _ narrow after having the cheaper menu disappear over the last couple — menu disappear over the last couple of— menu disappear over the last couple of years. they need something where people have a sense _ something where people have a sense there is consistent every day value. _ sense there is consistent every day value, price certainty matters _ day value, price certainty matters a lot.— day value, price certainty matters a lot. fast food giant is working — matters a lot. fast food giant is working on _ matters a lot. fast food giant is working on fixes _ matters a lot. fast food giant is working on fixes like - is working on fixes like extending its $5 meal deal into august at some us restaurants. that sent the share prices higher. more restaurants from mcdonald's to taco bell are launching value meals to win over conscious consumers. apple has released _ over conscious consumers. apple has released a — over conscious consumers. apple has released a preview— over conscious consumers. apple has released a preview of- over conscious consumers. apple has released a preview of its - has released a preview of its first version of apple intelligence, the brand—new iphone software. it includes automatically generated e—mails, images and improvements to voice assisted technology. but iphone users may need to still wait a while for the upgrade, as apple

intelligence is reportedly not going to be released this fall but later in the year. us carrier delta airlines has reportedly hired a law firm and will seek compensation from microsoft and crowdstrike over the global cyber outage earlier this month. delta cancelled more than 6000 flights, leaving hundreds of thousands of travellers stranded. the cost to the airline operations is estimated to be around $350 million, and counting. the us secretary of state antony blinken is on a tour of asia and currently injapan. leaders in the region are keen to get insight into the economic and trade policies of kamala harris before the november presidential election. a reset of us ties in the region under the biden administration could be upended by the possible return to the white house of donald trump and proposals for new tariffs and calls for a

weaker dollar.— weaker dollar. trade is everything- _ weaker dollar. trade is everything. economics | weaker dollar. trade is - everything. economics usually trumps security in most of asia. counterparts will be asking a lot of questions about trade and economic policy by the united states for the next six months under biden and potentially what happens after that if kamala harris ends up president. that if kamala harris ends up president-— that if kamala harris ends up resident. ., ., ., president. how important would ou sa it president. how important would you say it would _ president. how important would you say it would be _ president. how important would you say it would be for - president. how important would you say it would be for the - you say it would be for the biden administration to ensure some measures are in place before the elections in the verdict goes in favour of the republicans?— verdict goes in favour of the re - ublicans? . ., , republicans? there are a number of laces republicans? there are a number of places and _ republicans? there are a number of places and countries _ republicans? there are a number of places and countries around . of places and countries around the region thinking about what happens if donald trump becomes again. they are trying to trump truth if possible certain parts of the relationship with the us that they like, and prepare for parts of a trump administration that they might like better.

they are trying to create the best possible conditions now and into the future.- and into the future. how important _ and into the future. how important will _ and into the future. how important will it - and into the future. how important will it be - and into the future. how important will it be for. and into the future. how - important will it be for kamala harris to clearly outline some of her future economic policies with regard to this region? what should those priority areas be in your opinion? i think her goal will be not to talk about trade economics at all until november, because this is not a winning strategy generally for boats, other than talking about harsh on china. beyond that, i think she will try not to talk about trade and economic issues abroad. it's not something american voters are keen on at the moment. —— for votes. what kind of policies might she have, and how similar to the biden administration. that would be an interesting question that will come up again and again in every meeting of us officials from now until the election. if we talk a little about former

president donald trump, who said over the weekend that the us cannot allow china to dominate. stern statement by donald trump. how are the asian nations viewing that possible trump presidency? i nations viewing that possible trump presidency?— nations viewing that possible trump presidency? i think they are fairly relaxed. _ trump presidency? i think they are fairly relaxed. a _ trump presidency? i think they are fairly relaxed. a lot - trump presidency? i think they are fairly relaxed. a lot of - are fairly relaxed. a lot of asian governments felt they came through trump before, it was difficult and disruption, but for many it was a benefit, particularly the crackdown on china. it meant firms switch up their supply chains into southeast asia, and a lot of governments in the region will say trump 2.0, how much worse can it be than the original version? and in some ways they benefited from his first administration. when you have opportunity. many governments in asia will say, it's not our

election, we have no choice over what takes place, wejust have to prepare for two different outcomes and see what happens. different outcomes and see what ha ens. ., , ., happens. some quarters have asked for— happens. some quarters have asked for a — happens. some quarters have asked for a possible - happens. some quarters have asked for a possible resetting i asked for a possible resetting of ties when it comes to us china relations, especially given the economic cold war we have seen. it was something anthony scaramucci told us last week on the programmes. what is your opinion in terms of balancing ties? i your opinion in terms of balancing ties?- your opinion in terms of balancing ties? i think it's extraordinarily _ balancing ties? i think it's extraordinarily important. balancing ties? i think it's. extraordinarily important. i don't think you can have the two largest economies at loggerheads. i don't think you can say, as the us is increasingly saying, that the other side of the enemy. this is a problem. at the end of the day, we live on the same planet, you have to try to get along. if you are in the rest of asia? the deepening tensions

between these major powers is a real issue and obstacle to try and negotiate that balance of some sort. and negotiate that balance of some sort-— some sort. britain's new finance _ some sort. britain's new finance minister - some sort. britain's new finance minister rachell some sort. britain's new- finance minister rachel reeves announced spending cuts on road and hospital building projects as well as winter fuel payments. she told parliament this was because of the big shortfall in funding that the labour government inherited. she said the previous conservative administration had overspent by $28 billion, making commitments they knew could not be paid for. china's tasteful coffee continues to gain ground since it first accelerated following the end of covid lockdowns. the ability to go out and meet friends has seen an explosion of so—called cafe culture, but that has also led to fierce competition, as our china correspondent finds out. one of the famous places in the world for tea has taken to coffee in a big way. in most chinese cities, this means major coffee chains. but in

shanghai, it's different. there has been an explosion of small specialist cafe is. the shanghai government says there are over 8000 cafe is in the city. in this street, over a stretch ofjust 100 metres, a couple stretch ofjust100 metres, a couple of hundred, 18 cafe is. every of them has lots of customers. translation: ,, ., ., translation: in shanghai, students are _ translation: in shanghai, students are being - translation: in shanghai, | students are being influenced by their parent drinking coffee. some send their kids to school and pop in for a coffee. so how many cups are people drinking each day? translation: ,, ., ., ., translation: shanghai has long been an international _ translation: shanghai has long been an international trading - been an international trading centre. we started drinking coffee a long time ago. smaller cities also gradually get different types of cafe is. some cafe is in shanghai are run by people with disabilities. this one with visually impaired staff has a unique way of handing out the coffees. you order here and they pass the coffees through they pass the coffees through the window. there it is. yet,

with this many outlets, competition is fierce. what advice would you give to friends opening a cafe? translation: friends opening a cafe? tuna/mom- friends opening a cafe? translation: ., , translation: you need very inexpensive — translation: you need very inexpensive machines - translation: you need very inexpensive machines and - translation: you need very inexpensive machines and to | translation: you need very i inexpensive machines and to put a lot of money into decorating. only a very small amount of money compared to other industries.— money compared to other industries. ., ., ., industries. you have a cafe, ou industries. you have a cafe, you have — industries. you have a cafe, you have spent _ industries. you have a cafe, you have spent all - industries. you have a cafe, you have spent all this - industries. you have a cafe, i you have spent all this money on rent, what are you going to do at night? one solution, turn it into a bar. concerned about the economy, will thirsty customers keep spending? translation: i’m customers keep spending? translation:— translation: i'm quite optimistic. _ translation: i'm quite optimistic. i— translation: i'm quite optimistic. i hope - translation: i'm quite optimistic. i hope the i translation: i'm quite - optimistic. i hope the chinese economy will quickly return to pre—pandemic levels. the pre-pandemic levels. the chinese — pre-pandemic levels. the chinese government - pre—pandemic levels. the chinese government says it wants a consumption led recovery. well, maybe this is a

step in the right direction. that's it for this edition of business today. thanks very much for watching.

hello. welcome along to sportsday. our top stories. two teenagers light up the paris pool, with david popovici winning the closest fought race of the night. the bar and the gold slips from china's grasp as japan continue their historic dominance of men's team gymnastics. and has rafa nadal played the final singles match of his career? if so, defeat in meeting number 60 with novak djokovic may well be a notable way to go out.

hello again. welcome along. there were a couple of thrilling finishes to two key races in the olympic pool on monday. the women's 200m freestyle provided a shock. the men's edition of the same race less so, although it was incredibly close. romanian teenager david popovici won byjust two hundredths of a second, adding olympic gold to his world title from 2022. popovici was only third at the halfway stage but came through just at the end to pip matt richards of britain, who claimed the silver from lane one. less than a tenth of a second separated all the medal winners, with america's luke hobson taking the bronze. i felt really good, felt strong. um, you know, i thought i maybe might have got it coming into the wall, but obviously didn't know because i was breathing the other way. turned around and saw second by my name,

which is a fantastic result. you know, i'd be lying if i said i didn't