as the olympic straw to a close we'll see what rewards athletes will receive. hello and welcome to business today. i'm steve lai. let's begin in the united states, where stock markets have fallen on concerns about what lies ahead for the economy. the benchmark s&p 500 fell by 1—point—7 percent, while the nasdaq lost more than 2—point—5 percent on friday. this came after a jobs report suggested the labour market was weakening, paving the way for an interest rate cut by the federal reserve next week. here in asia, investors are watching japan, which will release its final gdp readings for the months of april to june. for more on all of this, let's speak to naomi fink from nikko asset management. your reaction to the latest us jobs data? there hoping it would rebound injuly— there hoping it would rebound injuly and we did not get that and that— injuly and we did not get that and that is a source of disappointment and that said,

through— disappointment and that said, through fears of an imminent recession, does look like a slow— recession, does look like a slow down. i think the stock market_ slow down. i think the stock market particularly as gone ahead — market particularly as gone ahead and in bullish scenarios in the — ahead and in bullish scenarios in the collection. and ahead and in bullish scenarios in the collection.— in the collection. and to cut interest rates _ in the collection. and to cut interest rates next - in the collection. and to cut interest rates next week, . in the collection. and to cut i interest rates next week, any surprises you are expecting there? ~ ., ., there? we are looking at 25 cuts and — there? we are looking at 25 cuts and also _ there? we are looking at 25 cuts and also looking - there? we are looking at 25 cuts and also looking at - cuts and also looking at the inflation _ cuts and also looking at the inflation which we have shown signals of and it is possible that— signals of and it is possible that we _ signals of and it is possible that we might have some surprises intimate intercompany doesn't — surprises intimate intercompany doesn't have to. —— what would a cut mean for countries like japan? anticipation of stock markets that it — anticipation of stock markets that it will offer much—needed stimutus— that it will offer much—needed stimulus as the economy is softening i think on the whole, that is— softening i think on the whole, that is good news and i'm not

sure — that is good news and i'm not sure if— that is good news and i'm not sure if it's _ that is good news and i'm not sure if it's going to give stack— sure if it's going to give stock markets that much more momentum than they have gotten already— momentum than they have gotten already and i think it's looking at the forward trajectory and what stockmarkets need is a fine balance _ stockmarkets need is a fine balance between that stimulus and balance between that stimulus ahd ah— balance between that stimulus and an economy that doesn't, it is softening but not too soft and — is softening but not too soft and continues to draw positive earnings — and continues to draw positive earnings going forwards. if we sta with earnings going forwards. if we stay with japan. _ earnings going forwards. if we stay with japan, they - earnings going forwards. if we stay with japan, they been - stay with japan, they been encouraging signs coming out from there and what's the main thing to understand about japan's economic growth? japan is at a crossroads _ japan's economic growth? japan is at a crossroads and _ japan's economic growth? japan is at a crossroads and i - japan's economic growth? japan is at a crossroads and i think- is at a crossroads and i think we really— is at a crossroads and i think we really benefited from the exporters revenues growing and the rest — exporters revenues growing and the rest of the economy re—fleeting and that is not looking _ re—fleeting and that is not looking like japan is going to have — looking like japan is going to have to _ looking like japan is going to have to depend more on domestic demand _ have to depend more on domestic demand and signals that this is happening and consumption and growth — happening and consumption and growth is — happening and consumption and growth is been much healthier than _ growth is been much healthier than recently in real wage growth _ than recently in real wage growth is gone into positive territory _ growth is gone into positive territory but we need that to continue _ territory but we need that to continue and if it does

continue, we can perhaps see a rotation — continue, we can perhaps see a rotation away from those overseas towards more domestic demahds— overseas towards more domestic demands in the stock market and in this— demands in the stock market and in this way, — demands in the stock market and in this way, japan's recovery could — in this way, japan's recovery could slow down from abroad like in — could slow down from abroad like in the us. alongside japan's gdp data, we're also expecting inflation data from a few of the major economies this week. china is reporting later today, giving further clues on whether there are any signs of recovery for its sluggish economy. meanwhile the us and india are expected to release their inflation figures later in the week, giving further indications on whether inflation has truly slowed. the us and boeing since it has reached a tentative deal with its largest union, representing one of the 32,000 workers in the us pacific northwest and could help the playmaker avoid a strike which threatened to hold up strike which threatened to hold up its production line. a pay raise over a four—year contract

and it is seen as an important victory for the new ceo who has been given the mandate to turn the firm around. china will open at the 1st of november as a part of efforts to revive its sluggish economy. the government is opening a health care sector by allowing foreign investors to develop technologies. the manufacturing restrictions that will be relatively minor and the printing factories and production of global medication. let's turn to the paralympics which have now drawn to a close. as athletes return home with their medals, some will also be receiving payouts forfinishing on the podium. providing this sort of financial reward is still new — countries like canada for example, only began these payments this year. the country's olympic athletes, on the other hand, have been receiving rewards for several decades. marc—andr fabienjoins us to discuss why it's been a long journey for medal winning paralympians to receive financial recognition. will give rewards to the

paralympic medalists and $15,000 for gold and 10,000 for silver and 5000 for bronze. and for the first time here in paris, that canada will reward its parent being medalists and i must say in the last few years, it was highly controversial in canada to see the olympians on one hand receiving rewards and not the pair olympians. but the reason why such situations and financial canadian olympic committee is wealthier than we are in the canadian paralympic committees. what was important was to be able to have a font and make it obtainable in order to give these rewards, paralympics after paralympics,

after paralympics and now because private donors and the input of the canadian government has been able to have a sufficient font or a sustainable programme or reward to our pair libyan metals. this is a significant _ to our pair libyan metals. this is a significant change - to our pair libyan metals. this is a significant change and are there other countries doing the same? i there other countries doing the same? .. ., there other countries doing the same? ., ., , ,., there other countries doing the same? ., ., , ., same? i cannot answer you for other countries _ same? i cannot answer you for other countries but _ same? i cannot answer you for other countries but pair - other countries but pair olympians are extremely happy but it will tell you not only about money, it is the principle. it is the quality and it is to make sure that pair olympians are treated the same way on the same foot. this is for them very important symbol. in many parts of the african continent, young people are moving from rural to urban areas ?

to seek a better life for themselves in cities and towns. as the bbc s michael kaloki in kenya reports, in some instances the elderly parents left behind sometimes find themselves in situations where they struggle to fend for themselves. this in kenya's county. this is where he lives. 63 and lives alone. his wife died several years ago and his children have left home. years ago and his children have left home-— left home. the challenges i encounter _ left home. the challenges i encounter while _ left home. the challenges i encounter while living - left home. the challenges i encounter while living on i left home. the challenges i l encounter while living on my own include having to dig the farm on my own, have to look forfood farm on my own, have to look for food and after struggle to meet all my needs.— for food and after struggle to meet all my needs. three of his six children _ meet all my needs. three of his six children married _ meet all my needs. three of his six children married and - meet all my needs. three of his six children married and moved | six children married and moved to other parts. his other children moved to the city in search of a better life. he feels that if his children had not moved to the city, life would've been much better him financially. if would've been much better him financially-— financially. if my children

were here, _ financially. if my children were here, it— financially. if my children were here, it would've i financially. if my children i were here, it would've been sitting down to discuss but we would do to get sufficient money. it would do to get sufficient mone . , ., ., ., , money. it is in rural areas such as — money. it is in rural areas such as this _ money. it is in rural areas such as this one - money. it is in rural areas such as this one were - money. it is in rural areas i such as this one were many elderly people are trying to make ends meet on their own or with limited assistance. this after their children have left to seek out a better living in urban areas. for those without sustained income or adequate financial support, they can often end up facing a myriad of challenges. if often end up facing a myriad of challenges-— challenges. if you look at the rural places. _ challenges. if you look at the rural places, they _ challenges. if you look at the rural places, they do - challenges. if you look at the rural places, they do not - challenges. if you look at the | rural places, they do not have amenities _ rural places, they do not have amenities or services and what that means is if you are in an environment or an ecosystem where _ environment or an ecosystem where there amenities vulnerability of services, it nteans_ vulnerability of services, it means the costs are high and for elderly people, specialised care for— for elderly people, specialised care for example, if someone has high _ care for example, if someone has high blood pressure or diabetes may need specialised care, — diabetes may need specialised care, they are living in rural africa — care, they are living in rural africa and _ care, they are living in rural africa and he becomes extremely difficult _ africa and he becomes extremely difficult for them.— difficult for them. report released _

difficult for them. report released by _ difficult for them. report released by the - difficult for them. report released by the kenya i released by the kenya government last year noted that the elderly are the fastest—growing segment of the country prosperous population. with a report indicating that an adequate income is a challenge. social cohesion can also be affected when the elderly are left on their own. that traditionally, we are socialised _ that traditionally, we are socialised into _ that traditionally, we are socialised into a - that traditionally, we are socialised into a certain l socialised into a certain culture _ socialised into a certain culture and _ socialised into a certain culture and again, - socialised into a certain culture and again, we l socialised into a certain l culture and again, we are connected _ culture and again, we are connected by— culture and again, we are connected by social- connected by social interaction. - connected by social interaction. we - connected by social interaction. we act| connected by social- interaction. we act together, we talk _ interaction. we act together, we talk the _ interaction. we act together, we talk. the social— interaction. we act together, we talk. the social fabric- interaction. we act together, we talk. the social fabric is i we talk. the social fabric is tight— we talk. the social fabric is tight in— we talk. the social fabric is tight in as _ we talk. the social fabric is tight in as we _ we talk. the social fabric is tight in as we move - we talk. the social fabric is tight in as we move away. we talk. the social fabric is i tight in as we move away and people — tight in as we move away and people do— tight in as we move away and people do not— tight in as we move away and people do not interact, - tight in as we move away and people do not interact, they. people do not interact, they disconnect— people do not interact, they disconnect widely. - people do not interact, they disconnect widely. that - disconnect widely. that physical— disconnect widely. that physical interaction, . disconnect widely. that l physical interaction, like talking _ physical interaction, like talking to _ physical interaction, like talking to parents - physical interaction, like talking to parents and i physical interaction, like. talking to parents and the children— talking to parents and the children in— talking to parents and the | children in communicating talking to parents and the - children in communicating and interacting. _ children in communicating and interacting, we _ children in communicating and interacting, we have _ children in communicating and interacting, we have lost- children in communicating and interacting, we have lost thatl interacting, we have lost that one — interacting, we have lost that one is— interacting, we have lost that one. , , ., interacting, we have lost that one. ,, ., ., one. is several urban areas in ken a one. is several urban areas in kenya and — one. is several urban areas in kenya and on _ one. is several urban areas in kenya and on the _ one. is several urban areas in kenya and on the continent i kenya and on the continent continue to witness growth, attracting more young people, the future reached by the elderly in rural areas may likely become a significant

concern. what that is get you “p concern. what that is get you up to speed with some news out of china. chinese car maker chery is considering opening a factory in the uk. that's according to its uk head victor zhang who spoke to the bbc. the company is looking to expand its manufacturing footprint across europe and has been looking at other countries as well. so far, chery has committed to a factory in spain. it's also speaking to the italian government on starting production there. and that's it for this edition of business today. thanks for watching.

there are millions of heavy goods trucks driving on roads all over the world. but why are so few of them running on electricity? to find out, we are in sodertalje, near sweden's capital, and home to one of europe's biggest truck manufacturers. they're on the long road to changing an industry that's having a big impact on our planet. the biggest and largest change that our industry has for over 100 years. when we went from horses to vehicles actually. now trundling off the end of their production line is an increasing number of electric trucks. and scania eventually wants that to be every