us central bank chief jerome powell hints that an interest rate cut could be on the table as soon as september, sending wall street higher. hello and welcome to business today. i'm arunoday mukharji. let's begin in the us, where the federal reserve has wrapped up its latest 2—day meeting, where policy makers kept the cost of borrowing rate steady between 5.25 percent to 5.5 percent. what was noteworthy though were the hints

from chairjerome powell that a september interest rate cut could be on the table. those comments from his press conference pushed wall street higher, with all the major indices closing in the green. the question will be whether the totality of the data, the evolving outlook, and the balance of risks, are consistent with outlooks on inflation and maintaining a solid labour market. if that testis solid labour market. if that test is met, reduction in our policy rate could be on the table as soon as the next meeting in september. tom porcelli, the chief us economist at pgim fixed income in new york laid out his expectations for the fed and us monetary policy, given its an election year. i think you get pretty clear indication today that september is the meeting where they will start the process of removing some of the aggressive tightening they have put in place. do i think that some aggressive inflation data could get in the way? we will get to inflation reports between now and then. it would have to be

incredible outliers for the fed to take a pass at cutting in september. but he left the door open for that possibility. but i think at this point it looks like inflation is in the midst of slowing down. so i don't think that is a hurdle. what they are really worried about now is labour. as you have been highlighting, there has been cracks forming in the labour backup. cracks forming in the labour backu -. �* ., ,, backup. and how eight us businesses _ backup. and how eight us businesses and _ backup. and how eight us| businesses and consumers bearing under the current interest rate levels? there are also impacts of the government which is borrowing heavily. they study to clampdown on the backdrop now. you can see that the latency rates are now the rise. delinquency rates were linked to lower rated credits. but it is now starting to bleed up but it is now starting to bleed up to near prime. so people

that are near average credit scores. it is affecting them, too. you will also see some of that. the thing that worries me is us in this rise in delinquency rates with the unemployment rate still at a relatively low rate. so i do think that these crosscurrents is what is starting to worry the fed to some extent. let's turn to boeing, _ the fed to some extent. let's turn to boeing, and _ the fed to some extent. let's turn to boeing, and the - playmaker has appointed a new chief executive to succeed dave calhoon, who is stepping down. —— plane—maker. kelly ortberg, the former head of aerospace supplier rockwell collins, will take over next month as boeing struggles to overcome a series of challenges relating to its safety record and supply chains. the announcement came as boeing reported deepening losses in the second quarter of the year, making a net loss of $1.1; billion. aviation analyst mark martin weighed in on the new ceo appointment, and whether this marks a turning point for the troubled company. kelly ortberg comes from

rockwell collins. his perspective as a hard—core engineering guy helps a lot. rockwell collins was in a similar situation to boeing is at the moment, about 20 years ago. and rockwell collins has turned itself around and come up turned itself around and come up with a new range of avionic products and aerospace competence. so we have a guy who has ticked the boxes with a lot of the issues for boeing at the moment that rockwool had 20 years ago. he is not a pretty good job at rockwell stop he took a major chunk of the aerospace passenger market, which is very, very radical three orfour years ago. which is very, very radical three or four years ago. i think it is a good step for boeing, but the big challenge for kelly 0rtberg went to startwill ease stop customers getting orders, or will he get down and dirty and rolled his

sleeves up and start fixing the house because they will have to see how he takes up the key role. , �* ., ., , , role. given boeing has been suffering — role. given boeing has been suffering a _ role. given boeing has been suffering a credibility - role. given boeing has been suffering a credibility crisis, | suffering a credibility crisis, i also want to get your thoughts in terms the broader industry given the developments around boeing and china and its homegrown fleet. how viable is the option for carriers in asia? it the option for carriers in asia? . , , the option for carriers in asia? , , , ., asia? it has been pretty rough for boeing _ asia? it has been pretty rough for boeing at _ asia? it has been pretty rough for boeing at the _ asia? it has been pretty rough for boeing at the moment. - asia? it has been pretty rough i for boeing at the moment. there have been no takers for the 77 max. asia is going at a very fast rate. post—covid i9, max. asia is going at a very fast rate. post—covid 19, we did stable and reliable aircraft and it isn'tjust boeing, and abbas, dealing with a lot of manufacturing issues. we know with the turbine engines and stuff. —— airbus. in the five years that comac

has been going in asia, it has shown as very reliable. garuda and some others are looking to bring in some comacs and see how it functions, with large jars of that aircraft type. but we are also on this and sent backdrop of us sanctions on chinese passenger aircraft which is a bit of a catch 22. comac has 80% of american competence, so how do you embargo your own products? i think there has to be some balance that will come soon on this. ~ ., , balance that will come soon on this. ~ . , ., , ., _ this. what needs to be done by boein: this. what needs to be done by boeing and _ this. what needs to be done by boeing and how— this. what needs to be done by boeing and how long _ this. what needs to be done by boeing and how long do - this. what needs to be done by boeing and how long do you . boeing and how long do you expect the losses to continue? boeing needs to get into his house, fix its manufacturing process, get out there, win back the competence of the traveller, airlines, pilots,

flight attendants, engineers, because boeing at the moment is in embarrassment. and once you fix and sort that out, it isn't a pr exercise, you really need to fix the house. and that will need to orders. boeing has always been good. the last 15 years have been lousy. they will have to work hard to get those orders back. the earnings season continues in the us with meta reporting after wall street's closing bell. the firm beat expectations on revenue and profit, sending shares up initially in after—hours trading. the firm's big bets in al were in focus. the bbc�*s north america correspondent erin delmore has more. the big story intact lately is how investors want to know when the mega investments we have been seeing, especially in artificial intelligence, was not to pay out more than they are taking in. in a lot of cases the investments are looking like they're going to be a slow burn and a bit of a cash burn. here is one example.

meta announced that its reality labs posted a nearly $4.5 billion loss in the second quarter of the year. reality labs is wet meta is developing its metaverse technologies, including augmented reality, like we see in the quest vr headsets and the rayban smart glasses. losses are about $50 billion. there is hard numbers between mark zuckerberg's big bets on metaverse is a technology of the future. the firm continues to build out its reality labs unit and sees more losses to come. it is advancing its technology through facebook, instagram, and whatsapp. mark zuckerberg said in a statement that meta aa is on track to be the biggest use

aa assisted by the end of the year. ——ai. aa assisted by the end of the year- "ai-— delmore there. crowdstrike is being sued by its shareholders, who allege that the company defrauded them by concealing how inadequate software testing on it and could have caused the global outage earlier this month. in a class action suit, shareholders say the company's assurances about its technology were misleading. chief executive george kurtz though believes the case lacks merit and has vowed to — quote — defend the company. the global outage caused crowdstrike's share price to sink 32 percent over nearly two weeks, wiping out $25 billion in market value. let's get you an update from india and softbank backed all electric is looking to make its initial public offering on friday. there is buzz around the listing as this is the first electric vehicle company to go public in the world's

third largest automobile market. —— 0la electric. here is our corresponded with more perspective. is our corresponded with more persoective-— perspective. the company is lookinu perspective. the company is looking to — perspective. the company is looking to raise _ perspective. the company is looking to raise 660- - perspective. the company is looking to raise 660- $730. looking to raise 660— $730 million through the anticipated listing. several investors have been big and are expected to make handsome returns. 0la electric is a segment leader and commenced nearly 35% of the country's ev two wheeler market share. it has seen its sales double in the last year, but is yet to report profits and has limited manufacturing experience compared to other more established auto companies in india. the court up has also courted several concerns, including safety concerns after several bicycle claims after catching fire.—

catching fire. that is all in this edition of business today. thank you for watching. stay with bbc news.

hi, i'm lola with the catch up. tonight universities told to step up an epic day at the olympics and padded gymnastics. but first universities in england have been told to step up england have been told to step up efforts to protect students from sexual harassment. the watchdog says it will introduce new standards which include training for staff and students on what harassment is, having proper reporting systems and a ban on using nondisclosure agreements. it stopped short of agreements. it stopped short of a total ban on relationships between staff members and students, so what do students think? , a, ,

students, so what do students think? , , , think? here is molly. i spoke to a student _ think? here is molly. i spoke to a student today _ think? here is molly. i spoke to a student today who - think? here is molly. i spoke to a student today who told i think? here is molly. i spoke i to a student today who told me she was sexually assaulted on her first day of freshies week. she said she didn't report it because you didn't think anything would be done about it. she told me you need need to do more to protect students and that southern students need to understand exactly what sexual harassment is and what consent really means. —— unis need to do. if consent really means. -- unis need to do— consent really means. -- unis need to do-— need to do. if you have been affected by _ need to do. if you have been affected by any _ need to do. if you have been affected by any of _ need to do. if you have been affected by any of these - affected by any of these issues, social bbc action line for help and support. to the olympics and team gb are celebrating to drama filled gold medals won minutes apart. the gigabits rose to gold in the final minutes of the quad skulls, and in the triathlon. bmx free to also saw a medal. time for ten seconds of cuteness overload. two adorable giant pandas in china asked

showing 0lympic chemists how to do it with good moves and balance on a padded tower. look at that perfect balance. so cute. you are all caught up now. have a great night. hello and welcome to sportsday. i'm gavin ramjaun. majestic leon marchand thrills the home crowd, with a two golds, on an historic night for him in men's swimming. a piece of history for america and katie ledecky, too, as she sets an olympic record in the womens 1500m freestyle. and japan continue to dominate in the men's gymnastics — but it's not the man you'd expect bringing home the gold, in the all—around.