boeing ups its pay offer to employees to 30%. will it be enough to satisfy its striking workers? the main union is not happy. the british boss of superdry slams chinese fashion retailer shein over tax avoidance and the environmental impact of its shipping. and we'll hear from the boss of one of the world's biggest recycling companies about the global imperative to do more of it. live from london this is business today. we start today with a look at global it resilience. later today, a senior executive at tech security firm crowdstrike will face questions from us congress about their disastrous software update that caused the largest global it outage in history.

onjuly 19th, a bug—infested update was sent to millions of computers running microsoft windows around the world 7 crashing the systems of organisations from banking, to healthca re, and airlines. according to one estimate the disaster cost top us firms more than $5 billion. microsoft has announced changes to how it interacts with third party security firms. our technology editor zoe kleinman looks at the effects of the outage. thousands of flights grounded. doctor's appointments cancelled. tv channels falling off air. the it outage felt around the world injuly has been described as the worst cyber event in history. microsoft said around 8.5 million computers around the world were disabled after a cyber security company called crowdstrike sent out a corrupted software update to its nearly 2a,000 customers, many of them huge companies we rely on in our everyday lives. look atjensen. are we going to disney?

we're going to disneyland right now. jo and her children were among the thousands affected by the chaos. no explanation whatsoever. everybody wasjust, you know, crowding around people who worked at the airport. and they were just, like, we don't know what's going on. what's the point of making us stand here? we've been here since ten this morning. i was heartbroken at the end of it, actually. oh, my gosh, i'm sorry. yeah, sorry. jo managed to get money back for the cancelled flights, but she lost almost £1,000 on her disneyland tickets. 13 hours we have waited. each month. i was like, finding myself of my wage and i'm not full time. i'm only part time, you know. that's a lot to save, isn't it? yeah. and then itjust... and thenjust for that

£900 just to be gone. i'm just, you know, and then all the money i spent on the outfits, you know, that was like £300 for all the clothes to take them there, and things like that as well, and can't take them with them next year because they'll outgrown them and stuff. oh, this is brutal. yeah. so how did this happen? it's a tale of two glitches. it's a tale of two glitches. crowdstrike says it did crowdstrike says it did have a system in place to make have a system in place to make sure its updates worked sure its updates worked properly before it released properly before it released them, but a glitch in that them, but a glitch in that system meant it didn't pick up system meant it didn't pick up another glitch another glitch in the update itself. and we all know what in the update itself. and we all know what happened after that. happened after that. as you'd expect, the company as you'd expect, the company now says better testing now says better testing and checks will help and checks will help in the future. in the future. tough questions are expected tough questions are expected for crowdstrike later today, for crowdstrike later today, what has changed since when one of its bosses will be when one of its bosses will be grilled by us grilled by us lawmakers in congress. lawmakers in congress. the key answers that the key answers that we need from this we need from this hearing is, firstly, hearing is, firstly, confirmation of the technical confirmation of the technical detail of what went wrong. detail of what went wrong. secondly, what was the secondly, what was the failure in process here? failure in process here? has a failure of process has a failure of process been identified? been identified?

and if so, thirdly, and if so, thirdly, what has changed since and what are crowdstrike going to do to prevent this going wrong in future? it may seem shocking that a company many people had never heard of could cause so much chaos, but it's also a reminder

heard of could cause so much chaos, but today? a reminder heard of could cause so much chaos, but today? a re we der might learn today? will we learn anything new today? i doubt there will be very much new and we will have the same sort of technicaljargon coming out of crowdstrike. they did describe what happened but they didn't describe anything about why. there was no accountability on who has signed off on those particular testing procedures and how those design flaws in the procedures were allowed to creep in and they will have been a risk assessments about that type of thing and therefore somebody should be accountable and we need something that is not so laden with jargon. something that is not so laden with jargon-— something that is not so laden with jargon. with “argon. microsoft has says it is with jargon. microsoft has says it is improving _ with jargon. microsoft has says it is improving security - with jargon. microsoft has says it is improving security and - it is improving security and has safe deployment practices in place for its customers. are you are assured by that? not particularly because microsoft have had fairly good deployment practices for their customers for a long time.— for a long time. and we do still get — for a long time. and we do still get these _ for a long time. and we do still get these problems i for a long time. and we do i still get these problems even with the best practice in place, you can have different

software on different systems which will interact in peculiar ways. you can how things go wrong in transmission so we have seen these problems happen time and time again but this just happen to be the largest and most dramatic. in just happen to be the largest and most dramatic.— and most dramatic. in the re ort and most dramatic. in the report we _ and most dramatic. in the report we heard _ and most dramatic. in the report we heard of - and most dramatic. in the - report we heard of individuals impacted, businesses impacted. when ali wong get any kind of compensation for the serious this has may be small businesses —— will anyone get any kind of compensation? crowdstrike are talking about a damages bill so they have money set aside to pay damages but whether it will go to the smaller customers is very up in the air. i suspect there will be long legal battles around it and for some businesses which are smaller, they won't survive long enough to see any compensation come in. in terms of lessons _ compensation come in. in terms of lessons learned, _ compensation come in. in terms of lessons learned, we - compensation come in. in terms of lessons learned, we don't - of lessons learned, we don't want to experience it again, certainly crowdstrike, microsoft, so what could it prevent it happening again in the future? to prevent it happening again in the future?— the future? to prevent it happening _ the future? to prevent it

happening at _ the future? to prevent it happening at this - the future? to prevent it happening at this sort i the future? to prevent it happening at this sort of| the future? to prevent it i happening at this sort of scale what we would need is a more diverse technology industry with more companies with different solutions spread out much more. the problem is we rely on a very small number of companies, even though most people are not aware to provide rely on a very small number of companies, even though most people are not aware to provide most security and control over most security and control over the world's technology. james, the world's technology. james, thank you _ the world's technology. james, thank you very _ the world's technology. james, thank you very much _ the world's technology. james, thank you _ the world's technology. james, thank you very _ the world's technology. james, thank you very much _ the world's technology. james, thank you very much for i the world's technology. james, thank you very much for i the world's technology. james, thank you very much for your i thank you very much for your i thank you very much for your thank you very much for your analysis. analysis. boeing has raised its pay boeing has raised its pay offer to thousands of striking offer to thousands of striking workers in what it describes workers in what it describes as its "best and final offer". as its "best and final offer". the planemaker is now offering the planemaker is now offering a 30 percent pay rise as it a 30 percent pay rise as it tries to end a work stoppage with marc 0stwald — of tries to end a work stoppage that has lasted for 11 days that has lasted for 11 days and threatens the and threatens the company's recovery. company's recovery. but the offer that was made but the offer that was made on monday has led to a backlash on monday has led to a backlash from the planemaker's biggest from the planemaker's biggest union that represents some union that represents some 33,000 workers. it says boeing's move to deal directly with striking workers and the news media on monday and the news media on monday without bargaining with the union showed without bargaining "disrespect" and looks to divide striking picketers. to divide striking picketers.

let's explore this now chief economist and global strategist at adm isi.

chief economist and global s newgist at adm isi. chief economist and global s new ceo at adm isi. chief economist and global s new ceo in adm isi. chief economist and global s new ceo in place si. chief economist and global s new ceo in place who is in a new ceo in place who is in position to try and turn things position to try and turn things around for boeing after a around for boeing after a really difficult year for the really difficult year for the company. company. really difficult year for the company-— really difficult year for the company. really difficult year for the company-— really difficult year for the company. really difficult year for the coman . , ., ., really difficult year for the coman . , ., ., company. yes, something of a ba tism company. yes, something of a baptism of _ company. yes, something of a baptism of fire _ company. yes, something of a baptism of fire for _ company. yes, something of a company. yes, something of a ba tism company. yes, something of a baptism of _ company. yes, something of a baptism of fire _ company. yes, something of a baptism of fire for _ company. yes, something of a baptism of fire for the - company. yes, something of a baptism of fire for the new i baptism of fire for the new baptism of fire for the - company. yes, something of a baptism of fire for the new i baptism of fire for the new ceo. the union are asking for ceo. the union are asking for 40%, ceo. the union are asking for a0%, they've moved from 25 to 40%, ceo. the union are asking for a0%, they've moved from 25 to 30. he can ill afford to have a 30. he can ill afford to have a protracted strike but on the protracted strike but on the other hand it's probably other hand it's probably stretching the very limits in stretching the very limits in terms of of the offer its terms of of the offer its already made, given that it already made, given that it does not really know how long does not really know how long that production cap it has got that production cap it has got in place by the regulatory in place by the regulatory authorities will stay in place, authorities will stay in place, so it's really very, very tough so it's really very, very tough times for boeing. taste times for boeing. taste so it's really very, very tough times for boeing.— so it's really very, very tough times for boeing. we need to so it's really very, very tough times for boeing.— so it's really very, very tough times for boeing. we need to net our times for boeing. we need to get our heads _ times for boeing. we need to get our heads around - times for boeing. we need to net our times for boeing. we need to get our heads _ times for boeing. we need to get our heads around - times for boeing. we need to get our heads around how- times for boeing. we need to j get our heads around how big times for boeing. we need to l get our heads around how big a get our heads around how- times for boeing. we need to j get our heads around how big times for boeing. we need to l get our heads around how big a company boeing is. we've all company boeing is. we've all heard of it and many have flown heard of it and many have flown

on a boeing plane, on a boeing plane, but 33,000 members are in this union alone and it is a huge employer and has big consequences when things are not working properly. things are not working properly-— things are not working --roerl. �* , �*, things are not working --roerl. , properly. absolutely it's a hu . e properly. absolutely it's a huge employer _ properly. absolutely it's a huge employer in - properly. absolutely it's a huge employer in itself i properly. absolutely it's a l huge employer in itself with properly. absolutely it's a i huge employer in itself with a

could be a bit inflationary. yes, a lot at stake. thank you very much. the boss of uk retailer superdry, julian dunkerton, has told the bbc that the chinese fast—fashion company shein is using tax loopholes is using tax loopholes to ship garments to the uk to ship garments to the uk and undercut rivals. and undercut rivals. he argues the company should he argues the company should not be allowed to list not be allowed to list on the london stock exchange on the london stock exchange given this behaviour. given this behaviour. speaking to the bbc�*s wake up speaking to the bbc�*s wake up to money programme on radio 4, to money programme on radio 4, mr dunkerton said the company's mr dunkerton said the company's practices amounted to practices amounted to an "environmental disaster." an "environmental disaster." what we are doing is allowing what we are doing is allowing a company to ship in goods into a company to ship in goods into this country without paying. this country without paying. going to promote them i think, no vat, no import i think, no vat, no import duty and shipping single duty and shipping single parcels from china. parcels from china. so a complete so a complete environmental disaster. environmental disaster. we're allowing somebody we're allowing somebody to come in and be a tax to come in and be a tax avoider, essentially. avoider, essentially.

and then we're potentially and then we're potentially going to promote them on the london stock exchange when they're undermining, you know, a net zero position. you know, here we are trying as a nation to talk about green energy and in the same breath, we're talking about allowing somebody to list who's an environmental disaster in terms of shipping goods. meanwhile shein has declined to comment — but directed the bbc to previous statements in which they've said shein's success is down to a flexible and efficient supply chain, not tax exemptions and that they "look forward to work with policy makers to review current frameworks". the british government said, "our customs and tax regime balances reducing burdens for businesses and consumers buying lower—value goods from overseas with the interests of uk businesses. the decision on whether a firm can list in the uk is for the independent regulator, the fca,(ani)subject to a firm meeting the

fca s listing rules. now have you heard of the wero payment service? it's backed by the eu and is launching in france this week following rollouts in germany and belgium. the payment app was developed by the european payments initiative, or epi — a partnership of 16 european banks and the expectation is it will rival apple pay — google pay and even visa and mastercard. wero's aim is to address the eurozone's long—standing desire for strategic autonomy in financial services. anna martin is head of financial services at beuc, the european consumer organisation what is the uptake? it has rolled out in germany and belgium. many people using it? the uptake has been slow because when you go to a

banking app you need to find it so that's the first hurdle but consumers are already using the national solutions there and they will probably see that sooner or later as well. i can understand _ sooner or later as well. i can understand why _ sooner or later as well. i can | understand why policymakers would like this to work and be successful, but what is the incentive for people in the euro zone using apple pay or visa to swap? it euro zone using apple pay or visa to swap?— euro zone using apple pay or visa to swap? it is you can do eer to visa to swap? it is you can do peerto peer— visa to swap? it is you can do peer to peer payments i visa to swap? it is you can do peer to peer payments and i visa to swap? it is you can do i peer to peer payments and split your bill in the restaurant and in the later stage pay online and also at the point of sale so there will be an alternative payment method but it comes on top of what you already have on your card. top of what you already have on your card-—

your card. that is my question, why would _ your card. that is my question, why would you _ your card. that is my question, why would you use _ your card. that is my question, why would you use it _ your card. that is my question, why would you use it why i your card. that is my question, | why would you use it why would you use the alternative? how will you encourage people to use wero?— will you encourage people to use wero? �* ., ., ., use wero? i'm not the one who will encourage _ use wero? i'm not the one who will encourage people - use wero? i'm not the one who will encourage people to i use wero? i'm not the one who will encourage people to use i use wero? i'm not the one who will encourage people to use it| will encourage people to use it or not but i see the advantage when i am doing peer to peer payments with my friends were i do not have the credit card option available. do do not have the credit card option available.— do not have the credit card option available. do you think it will be successful? - option available. do you think it will be successful? in i it will be successful? in payment _ it will be successful? in payment it always it will be successful? i�*i payment it always takes time until people start using new payment methods. it's a question of trust and you don't start something new because it is your money, so you want to have something that is working and you see your friends and family are using it so there is a network effect to it. taste family are using it so there is a network effect to it. we will watch and _ a network effect to it. we will watch and see _ a network effect to it. we will watch and see how _ a network effect to it. we will watch and see how it - a network effect to it. we will watch and see how it goes. i watch and see how it goes. thank you very much. around the world and across the uk.

this is bbc news.

shares of chip maker intel have continued to rise on reports it could be the target of one of the biggest takeover deals in history. in the latest development, asset manager apollo is reported to be offering a $5 billion dollar investment to support the boss pat gelsinger in his efforts to turn around the company. but wall street remains transfixed with reports that us rival qualcomm could be trying to engineer a friendly takeover. let's cross live now to dan ives, managing director and senior equity analyst at wedbush securities what is going on here? it has been disaster _ what is going on here? it has been disaster for _ what is going on here? it has been disaster for intel- what is going on here? it has been disaster for intel and i been disaster for intel and we've seen it play out and there is a fork in the road and

in terms of strategically what they will do, and uphill battle, they are far behind when you look at towards their md, it is a pain right now that we are seeing for intel. ii we are seeing for intel. if they were to make its move, many say it would never get through regulatory hurdles. are you in that camp?— through regulatory hurdles. are you in that camp? probably less than a 1096 _ you in that camp? probably less than a 10% chance _ you in that camp? probably less than a 10% chance it _ you in that camp? probably less than a 1096 chance it will - you in that camp? probably less than a 1096 chance it will get i than a 10% chance it will get donein than a 10% chance it will get done in the current form. intel will have to break itself off and sell pieces to two. i think the days of seeing intel in its current state are probably over. this will be the clock struck midnight and they need major changes one way or another. major changes one way or another-— another. so this is forcing restructuring, _ another. so this is forcing restructuring, so - another. so this is forcing restructuring, so what i another. so this is forcing restructuring, so what is. another. so this is forcing i restructuring, so what is going through the ceo's mind? he’s through the ceo's mind? he's gobbi rrot _

through the ceo's mind? he's gobbi not sleeping _ through the ceo's mind? he's gobbi not sleeping too - through the ceo's mind? he�*s gobbi not sleeping too well right now. at the end of the day, they are really missing on every product category and they have to evaluate how they will ultimately get to grips. you cannot cut your way to growth and this is a dark chapter for intel and they will have to figure out a path and i expect something in the next 30 days, something in the next 30 days, some sort of break—up or strategic split up. some sort of break-up or strategic split up.- some sort of break-up or strategic split up. that's how we see it- — strategic split up. that's how we see it. why _ strategic split up. that's how we see it. why is _ strategic split up. that's how we see it. why is qualcomm| strategic split up. that's how i we see it. why is qualcomm so interesting?— interesting? because they see blood in the _ interesting? because they see blood in the water. _ interesting? because they see blood in the water. they i blood in the water. they recognise this as an opportunity to go after intel or pieces. they are in a position of strength. intel is on a massive position of weakness in the huge growth area, so they are the ones with the power strategically everybody realises they are in a weaker position and they need to do something.— a weaker position and they need to do something. always good to net our to do something. always good to get your take _ to do something. always good to get your take on _ to do something. always good to get your take on things. - to do something. always good to get your take on things. see i get your take on things. see you again soon.

climate change poses a huge threat to humanity, and while it cannot be stopped experts say reaching net zero carbon emissions by 2050 would enable the worst consequences of climate change to be avoided. climate week nyc kicked off on sunday, in coordination with the un general assembly, and there some of the most influential leaders from business, government, and the climate sector are joining forces to champion change and speed up progress. let's hear now from tove andersen, president and ceo of tomra, one of the world s biggest recycling businesses welcome to the programme. are you a part of this un event? yes, we are here to utilise and share our knowledge and experience within recycling and the circular economy so we are

part of different events this week building to champion the global clarity protocol and also to advocate for ambitious targets on plastic pollution. what progress have you made this week so far?— this week so far? early in the week, this week so far? early in the week. what _ this week so far? early in the week, what we _ this week so far? early in the week, what we did _ this week so far? early in the week, what we did today i this week so far? early in the | week, what we did today with the world business council is to launch our new initiative regarding creating global security —— circularity protocol. the way we are utilising the resources is not sustainable so if you look at what we in the world are consuming every here, only 70% is —— a 7% is circular so 93% of what we are consuming is ending in landfill, incineration or even worse in nature. so we need a transition

from the linear economy to a circular economy, but this definition is not easy and businesses need and want help in doing that and that's what we want to achieve with this global circularity protocol. what is most important? is it going to be government policy or the stick more than the carrot. law that will force change, really, because we have been talking about change and what we need to do for many, many years but when it comes to actual commitments on the part of companies, should they be legally forced to make changes? i think the most important thing is that we needed to put a value on the environmental impact and the negative environmental impact and that is the challenge today, amongst the other challenges is the external pollution that is not put on the producer. we need to do that and i'm a strong

believer in incentives to drive performance and change, and we see if you put a value on the waste, you will be able to create new profitable business models that will drive the change we need to see. battery alarm policy will play a role. when it comes to recycling, where do you see the best methods working or the best behaviour. which countries are good at recycling? you behaviour. which countries are good at recycling?— good at recycling? you see it in certain _ good at recycling? you see it in certain materials - good at recycling? you see it in certain materials there i in certain materials there plastic— in certain materials there plastic bottles is one example in cerialn— plastic bottles is one example in certain countries for example in the nordic countries, so if you look to norway— countries, so if you look to norway where we have the deposit _ norway where we have the deposit scheme on the bottles, you get— deposit scheme on the bottles, you get collection rates above 90% _ you get collection rates above 90% and _ you get collection rates above 90% and also recycling rates of 90% _ 90% and also recycling rates of 90% and — 90% and also recycling rates of 90% and aluminium cans is another— 90% and aluminium cans is another good example where you -et another good example where you get the _ another good example where you get the higher recycling rate because it is profitable to

recycle _ because it is profitable to recycle the union. —— the aluminium thank you for telling us what — aluminium thank you for telling us what is — aluminium thank you for telling us what is happening at the climate _ us what is happening at the climate week that kicked off on sunday — climate week that kicked off on sunday. a climate week that kicked off on sunda . �* . ~ climate week that kicked off on sunda . �* a ., ., ~' climate week that kicked off on sunda . �* a ., sunday. a quick look at the markets- — sunday. a quick look at the markets. we _ sunday. a quick look at the markets. we are _ sunday. a quick look at the markets. we are seeing i sunday. a quick look at the markets. we are seeing a l sunday. a quick look at the i markets. we are seeing a big jump markets. we are seeing a big jump in trading in hong kong on this is reflecting what is happening in mainland china so the people's bank of china has announced it is cutting its interest rates, the reserve ratio for banks, to a minimum down payment requirement of second homes from 15% to 25% and interest rates have come down in china and they announced a raft of measures to boost growth, so a lot of activity in china today in hong kong over 3% on the announcements from china let's look at the next board so you can see what is going on and you can see a positive end to

the day for most of the main markets on wall street which is encouraging co—so to say, about china, a key policy interest rate but also introducing measures to try and boost the housing sector in china and other measures to boost growth in the world's second economy and markets much higher on that news in mainland china and hong kong. that's all from business today and if you're watching bbc one you can join breakfast at the top of the hour and if you are watching around the world, stay with us, because i will be back in a few minutes. hello. we have seen a lot of extreme rainfall over the last couple of days. woburn in bedfordshire had 102mm of rain

recorded on sunday. but on monday, it was really 0xfordshire's turn to see some absolutely horrendous conditions, widespread flooding and some severe disruption. in south newington in 0xfordshire, we recorded about 98mm through the day — that's about a month and a half's worth of rain. and you can see the rain on the radar picture here. it is gradually easing, and over the next few hours, it will tend to become a lot lighter, a lot patchier, before becoming confined to east anglia and south—east england. so it is an improving — very gradually — kind of weather situation. bit of rain coming into the far north of scotland. that's a cold front that will be bringing some colder air with it, but these are the kind of temperatures you'll have as you start off your tuesday morning. tuesday, still some dribs and drabs of rain left over for east anglia and south—east england, but clearing away quite quickly. this area of more substantial rain moves southwards across scotland through the day — that's our cold front. much colder air spreading to the far north of scotland, where there will be

a few afternoon showers. temperatures just around 10 degrees in aberdeen. 10 as well for stornoway. further southwards, we're around 1a to 18 celsius. now, the middle part of the week sees an area of low pressure move in off the atlantic, bringing more heavy rain, particularly targeted on england and wales. 0nce that's cleared through, well, then we start to get some colder air moving right the way across the country. and so for wednesday, it's kind of a day where we will see rain developing from the west, so turning wet across wales, southern and western areas of england through the day. probably a fair amount of dry weatherfurther northwards with some sunshine, a few showers in the forecast for northern areas of scotland, but it will continue to get colder across those northern areas. and then as we head into wednesday night and thursday, the rain continues to drive its way northwards and eastwards, covering most parts of england and wales with some heavy downpours. the colder air continues to flow in across scotland and northern ireland. so temperatures in belfast, 12. 13 for edinburgh — average at this time

of year is 17 degrees, so quite a long way below average. and that colder air is going to move its way southwards across all parts of the country before the end of the week.

good morning, welcome to breakfast withjon kay and sally nugent. 0ur headlines. fears of a full—blown conflict in the middle east after the deadliest day between israel and hezbollah in almost 20 years, and thousands flee from southern lebanon. a crackdown on welfare fraud and a repeated pledge to reduce net migration — sir keir starmer prepares to deliver his first labour party conference speech as prime minister. the clean—up is under way in parts of england hit by flash flooding — some places saw more than a month's worth of rain in 2a hours. enough is enough. calls for a full public inquiry into the fall of the funeral firm safe hands, which collapsed owing tens of millions to its customers. two years on — could this be fresh hope? in sport. as everton prepare to welcome new american owners,

could a multi—million—pound takeover restore the club to its former