delta air lines set to lose $550 million because of last month's crowdstrike outage. and singapore's new prime minister promises to stabilise the cost of living as the citystate marks its 59th birthday. hello and welcome to business today. i'm suranjana tewari. let's begin in the us where delta air lines says disruptions caused by the recent global software outage and subsequent flight cancellations cost it a whopping $550 million. the us carrier says it is pursuing legal action against crowdstrike and microsoft. here is bbc�*s michelle fleury in new york. delta air lines said it was reimbursing its customers for cancelled flights and providing compensation the form of cash and skymiles — its loyalty rewards programme. today we found out the pricetag. in a filing with regulators,

the carrier said those costs amounted to $380 million for the current quarter. it spent an extra $170 million on hotels, meals and transportation to and from the airport for its customers as well as other crew—related costs. given the expense, the airline said it had little choice but to pursue legal action against crowdstrike and microsoft for a global tech outage that caused thousands of flight cancellations. but crowdstrike has said it should not take all the blame. the cyber security company alleges the airline was hit hardest and longest because delta refused the on—site assistance they immediately offered. a letter from delta lawyers called crowdstrike�*s apology vastly inadequate. the war of words comes as delta and crowdstrike both face class—action lawsuits from airline passengers over the tech meltdown.

a huge sum forjust a few days�* delays. paramount global has announced it will lay off around 2000 people, or 15%, of its us workforce. the cuts will begin in the coming weeks and conclude by the end of the year. paramount also announced a write—down of its cable channels mtv and nickelodeon by nearly $6 billion. the major restructuring is part of the company's plan to reduce costs ahead of its merger with skydance media. deliveroo reported its first—ever profit from january to june bouncing first—ever profit from january tojune bouncing back first—ever profit from january to june bouncing back from first—ever profit from january tojune bouncing back from a loss in the same period last year. the british food delivery company made a net profit of 1.5 6 million driven by a rise in orders as consumer demand picked up. shares of deliveroo sought over 10% in london.

turning to singapore, where the city's new prime minister lawrence wong delivered his first national day message on thursday. among several issues addressed, mr wong pledged to bring down the high cost of living in the country. he also said more support would be provided to lower and middle—income families, including vouchers and utility rebates. vishrut rana, explained to me the economic issues the new prime minister would be prioritizing. there are a number of factors influencing singapore consumers at the moment, and cost of living, as the government has identified, remains a top concern among households here. the last couple of years have seen an inflationary episode, in particular in singapore, that has put pressure on the housing front, given limited space available for new construction which is a key challenge in the economy. some of those things are weighing on consumers�* minds at the moment, and policy support in that space should be quite useful for consumers going forward.

the government has been criticised a bit because — the citystate being seen as not as business friendly as it used to be. it has imposed some restrictions on work visas, for example, but the local job market is full. how will companies continue to attract high—value talent? that doesn't remain a policy consideration. —— does remain. i think there is recognition that the availability of talent remains a concern for firms and there are some constraints regarding the availability of international talent in singapore, along with constraints related to housing and land supply, which are all factors that weigh into this mindset. i think, overall, the government and the economy still remains very business friendly and singapore as a city still remains very attractive for talent. of course, maintaining

that is a balancing act between things imposed on talent over the economy of that unique talent that is available for firms to continue to operate as a global hub out of singapore. so, one of the key balancing act in the future, for sure. in other news, nobel laureate muhammad yunus has been sworn in as the leader of bangladesh's interim government after weeks of deadly political protest. this follows the resignation of prime minister sheikh hussein who fled the country. the bbc outlines the key priorities for the government. restoring law and order, the biggest priority. for a country without a government for four days and with no police force on ground, building trust is imperative for the

interim government, and with the peace, getting day—to—day operations will be crucial to stop any freefall of an already failing economy that has lost billions in curfews, data bans and political unrest. getting shops, e—commerce, small businesses and banks up and running. re—establishing international transactions aso critical businesses like garments start moving in. working with the central bank to address high inflation could be on the charts and assuring foreign lenders, including the international monetary fund and the world bank, of continuing loan programmes are imperative. analysts say that yunus, with his economic background, will bring a lot to the table. another priority would be to connect with bilateral partners and maintain a good relationship with new delhi. india and bangladesh shared a relationship under sheikh hussein and the new government will not disturb ties with its close trading partner but the task

will get difficult if anti—india sentiment grows in bangladesh, especially when ms hussein continues to live in india. it is an interim government. the extent of policy—making is uncertain but it must address youth joblessness — a key factor in protests and a core task is to lead the process for free and fair general elections in 90 days and that could be one of the trickiest up their sleeves. venezuela's president nicolas maduro has issued a ten—day ban on social media platform x, following a feud he has been having with the platform's owner elon musk for over a week. central to the feud is venezuela's elections on 28 july which claimed that maduro had won without providing detailed voting tallies — igniting anti—government protests. musk has been actively criticising maduro, calling him a dictator, and the two have been exchanging barbs since. around the world, digital finance is becoming increasingly common. the world bank estimates that three out of four people have a digital bank, or some other kind of

digital money account. of course, that leaves a quarter of the world — literally billions of people — out of the system where cash is no longer king. the head of financial inclusion at the world bank spoke to my colleague mark lobel about the issue for this week's talking business. i think the fin tech industry needs to focus more on consumer protection issues. in some cases, there has been a very aggressive pursuit of market share which has resulted in maybe paying less attention to the customer context. very aggressive sales practices in some cases and also very aggressive collection practices. so, i think those are areas to improve, and then also, perhaps we know that some companies are over optimised, so everything is through chat bots and such tools and that can be a problem when there

is a real issue or when there is a complex issue, which might be 0k during normal times, but in the case of a particular event, it might not stand up. one more area where i think fin tech companies should focus — i think more should be done to develop more tailored products and more oriented towards the needs of movements. there are some movements we are seeing but i think fin tech companies can do more. it has been fascinating hearing about this global move to digital finance and the momentum behind it. do you think cash is dead? no, i don't think so, but in terms of what i think we should aspire for is the situations where we need to use cash are as low as possible, but, of course, whoever needs to, wants to and needs to use it, they should be able to use it until they are comfortable with digital. in other news, british airways will be suspending all of its flights to beijing

until november 2025. longer flight routes as a result of being banned from russian airspace have resulted in higher costs. western carriers like british airways have been banned by russia since 2022, when the ukraine war began. barclays has become the first british bank to scrap bonus caps that the eu had previously imposed, which were capped at twice a person's fixed pay. with this move, bonuses at the bank can be awarded by up to 10 times a person's salary instead. the change in structure is expected to affect approximately 1600 of barclays staff based outside the uk and in the eu. and that's it for this edition of business today. thanks for watching.

hey.

i'm lola with the catch up. tonight: taylor's concerts cancelled, jai ho summer backlash, and pandas return to the usa. first, more people have been jailed for their role in violent unrest last week. it comes as thousands of anti—racism protesters took to the street last night after fears of more violence. next: a 19—year—old has been arrested in austria after confessing to planning a suicide attack on a taylor swift concert in vienna. police say he had pledged allegiance to the islamic state group and intended to carry out an attack using explosives and knives. some other stories now. bansky has revealed a fourth artwork in south london. but it appears to have been stolen. it is a silhouette of a wolf howling at the moon on a satellite dish. and influencer flossie clegg is facing a backlash for a trend called �*jai ho summer'. she has posted tiktoks over the last week with the song jai ho.

you might know it from the film slumdog millionaire. her comments section was full of comments like this, that the trend was ignorant after there have been anti—immigration riots. actress anushka shetty shared her thoughts with us. this is such a tone—deaf comment to make when people of colour are literally scared to leave their house in the place they call home. we reached out to flossie clegg and she has since issued an apology on instagram the videos no longer appear on her page. time now for ten seconds of giant pandas. they are making their public debut at san diego zoo in california. the pair are the first of their kind to be sent to the us from china in over 20 years. you are all caught up. have a great night.

hello there and welcome to sportsday with me, gavin ramjaun. american sydney mclaughlin—levrone smashes her own world record to storm to a sensational 400 metre hurdles gold in paris. it's close for the usa and their all—stars are into the men's basketball final at the olympics as they are pushed all the way by serbia. and away from the olympics, west ham are having a busy summer in the transfer markets. could kurt zouma be about to leave? welcome to the programme. another big night of headlines at the olympics on thursday with the track providing plenty of drama. the men's 200 metres saw a surprise winner take home the gold and there was a new world record set in the women's 400 metres hurdles. that was down to a stunning

performance from the usa's