a results. in the bank of england pulls the trigger on the first interest rate cut in four years. welcome to business today. it wasn't a good day on wall street. the report cards of text —— tech giants amazon... michelle fleury has more.

not even amazon could lift wall street out of the funk. that marked a slowdown from the prior quarter and its forecast in the weight two months ahead. it wasn't the only tech firm whose result left investors with a sour taste. intel start funds after chip—maker said it plans to cut 15,000 jobs and sell side social media snap. the only bright spot was apple, which was forwarded solid revenue despite drop in sales. the dow fell nearly 500 points after a weak economic data sparked fears that the fed would not that that's —— active fast enough. with markets

reassessing the health of the us economy, the government report due out a few hours from now could bring even more fireworks. as michelle mentioned, it was a mixed bag. stick this text right it is explained the tech sector as well as the ai momentum.— ai momentum. mixed from june and april- _ ai momentum. mixed from june and april. clearly, _ ai momentum. mixed from june and april. clearly, companies i and april. clearly, companies are either at a beat, and mix guidance, orsome are either at a beat, and mix guidance, or some issues in terms of the debate. all in all, i think terms of the debate. all in all, ithink it terms of the debate. all in all, i think it has to do with expectations. i don't think it's a bad order. 24%, but i think is more to do with validations. in think is more to do with validations.— think is more to do with validations. , . validations. in the first half ofthe validations. in the first half of the year. _ validations. in the first half of the year, we _ validations. in the first half of the year, we saw - validations. in the first half - of the year, we saw tech stocks

going up from al, but in the second water warnings, do you think there is a worry that al is not getting the kind of return on investment? to be fair, i return on investment? to be fair. i don't _ return on investment? to be fair, i don't think— return on investment? to be fair, i don't think we - return on investment? to be fair, i don't think we are - fair, i don't think we are at that stage. i think we need to take a medium to longer term approach. we had anecdotal evidence during the results were companies are either seeing an increase in revenues... we see the big tax revenues... we see the big tax revenues going to 50%, but investment will continue and we would rather see this and not see something that you would make the next six months. some --eole make the next six months. some peeple want _ make the next six months. some peeple want to — make the next six months. some people want to talk _ make the next six months. some people want to talk about - people want to talk about apple, because that set out. do you feel that has something to do with that new announcement. we don't go into companies specifically. i think it's concerned expectations. i think

the reaction was a bit mixed. more positive. but they are speaking with... more positive. but they are speaking with. . ._ more positive. but they are speaking with... beyond that oint, is speaking with... beyond that point, is there _ speaking with... beyond that point, is there a _ speaking with... beyond that point, is there a time - speaking with... beyond that point, is there a time frame l speaking with... beyond that. point, is there a time frame in terms of the adaptation? longer terms of the adaptation? longer term may be _ terms of the adaptation? longer term may be three _ terms of the adaptation? longer term may be three to _ terms of the adaptation? longer term may be three to four- term may be three to four years. it will probably accelerate in the next three or four months. staying with debt — two weeks after crowdstrike announced one of the biggest global outage, most computers are back to normal, but the cost was billions of dollars. ben thompson, spoke

element i think businesses don't really understand that. crowdstrike, fantastic product, but probably not crowdstrike, fantastic product, but probabl— but probably not strategic. it's not core _ but probably not strategic. it's not core finance - but probably not strategic. i it's not core finance system. for that to be able to cause these implications is serious. i think with the lessons are, for businesses, you got to understand how technology fits within your operations. i think you have to be prepared, think through scenarios that that you have the prepared lands in place, and we have to test. i think it does talk to a whole of digital resilience in an interconnected world. that's fairly early days. leasing regulations are to come through. but it is fairly early days for a lot of organisations. days for a lot of oruanisations. ~ ., organisations. we have the world resilience _ organisations. we have the world resilience a - organisations. we have the world resilience a lot. - organisations. we have the| world resilience a lot. what does this mean? they weren't small companies. they might be

forgiven for over overlooking this. these are huge organisations you would expect to have a better plan in place and they didn't. i to have a better plan in place and they didn't.— and they didn't. i think this is a wake-up _ and they didn't. i think this is a wake-up call. - and they didn't. i think this is a wake-up call. i - and they didn't. i think this is a wake-up call. i don't i is a wake—up call. i don't think we have as an organisation, looked at some of these systemically, i think resilience is having an end to end a conversation about texting in terms of testing the receipt, the deployment, but also testing your plans to respond. a lot of organisations are running hot and fast. we need to get that a serious conversation about the extent to which organisations are thinking about it, testing it, have the plans in place for it. and actually understand where key elements of this software can impact these operations. the royal

—— the royal mail take a potential probe into tangential leaks in russia. they called the parent company for investigation. the bid will be suspended now, but it does not mean mr kaminski has withdrawn. the government could block the deal, but a similar deal when mr kretinsky found his deal found nothing. the cost of borrowing was lower from a 16 year high of 5.25% down to 5%. i think the signs were already there in terms of the bank of england's on mandate. the

overall situation in the uk market, especially with respect to... real estate, they are under massive pressure in terms of the repayment. if you have a mortgage of 300000 and payments werejust around 750 mortgage of 300000 and payments were just around 750 per month, the new interest rates, around 1100- £1200, the new interest rates, around 1100— £1200, depending on the value which you have in your wallet. i think from consumers' perspective and from the economy's perspective, this was coming and this was a right move that the bank of england had to make. but i think the there was another question for investors and traders — is this enough from the uk economy and how much the bank of england can do more? in order to ease

the pressure on consumers. talking about the overall economy, as the new government in place in the uk, chancellor rager relieves has talked about physical burdens from the previous regime —— rachel reeves. i previous regime -- rachel reeves-— previous regime -- rachel reeves. ~ �* , ., ., reeves. i think it's a net zero came reeves. i think it's a net zero game because _ reeves. i think it's a net zero game because if _ reeves. i think it's a net zero game because if you - reeves. i think it's a net zero game because if you don't i reeves. i think it's a net zero l game because if you don't have a fixed product in place, you will attract... your mortgage will attract... your mortgage will come down today from tomorrow. yes, you will see some relief. but again, a previous government, many self—inflicted injuries. i could go on about them all day long. they left the government in a very big, dark hole. we already know the chancellor has talked about increasing taxes. yes, we are saving some money in terms of interest rates

occurring — still 16 years hi. but then, at the same time, the chancellor is going to come out and increase more taxes on businesses and consumers. so i think we still can't be back to square one. low interest rate for consumers' perspective, i'm not too optimistic about that. before we go, more news. korean air says it plans to stop surveying it's instant cup noodles to its passengers due to higher turbulence. the snack has long been a passenger favourite as available for free upon request in long distance flights. but the number of times turbulence had occurred had doubled since 2019, according to the airline, coupled with limited space and gavin iles meant that burns abroad were likely. that's all

for now, thanks very much.

hey, i'm lola with the catch up. first — a suspect in the southport stabbing attack has been named for the first time. 17—year—old axel rudakubana appeared in court charged with three counts of murder and ten counts of attempted murder. the judge decided to lift the ban on naming him as it was in the public interest. three girls — aged six, seven, and nine — were killed during the attack at a taylor swift—themed dance class on monday. the university where a student took her own life a student took her own life has been recognised for its efforts to tackle gender—based violence. 18—year—old emilyjewett died in 2016 after a campaign of abuse by another student while studying at aberdeen university.

it has now adopted a charter for the emily test, which aims to create safer environments for students, with hopes it can be rolled out to other unis. some other stories now — jamaican dancehall artist vybz kartel has been freed from prison. he was convicted of murder back in 2014, but that was overturned by a uk court earlier this year. the artist — who's collabed with the likes ofjay—z and rihanna — won't face a retrial. and mr beast has acknowledged using inappropriate language early on in his career. the youtuber�*s been accused of making racist comments in the past. his team said he made some bad jokes and other mistakes, and learned increasing influence comes with increased responsibility. time for ten seconds of the olympic marathon man. do you know the muffin man? henrik kristiansen, a norwegian swimmer, has gone viral with his tiktoks about the olympics village's chocolate muffins. tbh, they look so good! you're all caught up now, have a great night.

hello and welcome to sportsday from the bbc sport centre. coming up on the programme — two giants of american sport. hello and welcome to sportsday from the bbc sport centre. coming up on the programme — two giants of american sport. two giants of american sport shine at the olympics. simone biles and katie ledecky make it a day to remember for team usa. boxing controversy — a previously banned female fighter is allowed to compete and the international olympic committee defend its eligibility rules. and the end of an era — as the curtain comes down in paris on andy murray's playing career.