welcome to business today. we've had another sign of the financial strains facing the troubled us planemaker boeing. it's filed paperwork with the us financial regulator that will allow it to raise as much as $25 billion through new share sales and debt. the ongoing strikes at its main factory in seattle are thought to be costing it around $100m day and are now in their fifth week. those workers are due to a hold large rally in seattle in a few hours time to try and increase the pressure on boeing to improve their pay offer. our north america business correspondent is following this story. will this new capital do you think help boeing's bargaining position with those striking workers? it’s

bargaining position with those striking workers?— striking workers? it's added firepower — striking workers? it's added firepower and _ striking workers? it's added firepower and should - striking workers? it's added i firepower and should improve its bargaining position with the workers. it is seeking to raise new capital, up to $25 billion, and bond offering as it tries to shore up its troubled finances and shore up its balance sheet and boost its access to cash. it is trying to avoid getting caught... they have also agreed to a $10 billion credit agreement separately. that should boost its access to some short—term liquidity but it seems like boeing is trying its best to navigate the strikes but it also has upcoming debt majorities maturities to pay. and those striking workers are going to hold a rally in seattle today, day after the acting labour secretary the us government visited to try and broker a deal. are they any closer to an agreement? we

haven't really _ closer to an agreement? - haven't really seen too much progress when it comes to the negotiations will stop boeing withdrew its latest offer last week. both sides are accusing each other of unfair labour practices during the negotiations and as you mentioned the workers will be holding a rally in seattle today day after the acting labour secretary flew over to seattle to meet with both sides in a bid to try and break that deadlock. but these workers have been striking since september the 13th and they are still seeking better wages and a better wage deal and halting the production of some of those keyjets. it remains very heated. key jets. it remains very heated-— key jets. it remains very heated. . ~' , ., ., . staying in the us and the big banks are often seen as a sign of how well the us economy is doing. but it was a mixed picture from the three big names that gave us their latest results in the last few hours. goldman sachs saw its profits increase in thejuly to september period, compared to the same time a year ago, as a result of more

deal making and fund raising from companies. investment banking was also a bright spot for bank of america and citigroup, but their profits fell as retail banking saw more bad credit card debts and increased competition for customers. brendan browne, financial institutions managing director at s&p global ratings, gave us his take on the results. all three of these banks reported earnings roughly within_ reported earnings roughly within our expectations. investment banking was a positive _ investment banking was a positive story and it continues to rebound after a fairly weak 2025 — to rebound after a fairly weak 2025 we _ to rebound after a fairly weak 2023. we saw a big pick—up in debt_ 2023. we saw a big pick—up in debt underwriting both in investment—grade as well as leveraged finance and equity underwriting also was much stronger— underwriting also was much stronger than last year. there has been _ stronger than last year. there has been pick and ipos as well as secondary offerings and we are seeing a little bit of

improvement in mergers and acquisitions although there is still plenty of room to run there _ still plenty of room to run there. we also saw a strong trading _ there. we also saw a strong trading activity on the equity side — trading activity on the equity side although much more next on the fixed—income side. so three of those — the fixed—income side. so three of those banks benefited from those — of those banks benefited from those trends but since goldman is most — those trends but since goldman is most focused on investment banking — is most focused on investment banking they saw the biggest boost — banking they saw the biggest boost and earnings compared to last yean — the chief executive of bmw says that the european union should cancel its planned 2035 ban on petrol and diesel cars if it wants to reduce its reliance on china. 0liver zipse was speaking at the paris auto show where chinese car manufacturers have been making a bigger splash than ever before. the bmw boss said the mood in europe was trending towards pessimism and that the region needs a new regulatory framework to remain competitive.

carmakers are ploughing huge sums into developing electric cars but ev sales have been falling and the competition from china is intense. our business correspondent, theo leggett is at the paris auto show and spoke with the chief executive of the renault group. what makes me optimistic is that— what makes me optimistic is that renault had to kind of ask itself— that renault had to kind of ask itself the — that renault had to kind of ask itself the right question three or four— itself the right question three or four years ago when we were in trouble — or four years ago when we were in trouble and right now it has given— in trouble and right now it has given us— in trouble and right now it has given us an advantage because some _ given us an advantage because some of— given us an advantage because some of the cars are now coming to the _ some of the cars are now coming to the market, any hybrid and electric— to the market, any hybrid and electric cars and a lot of technology. we try to beat those _ technology. we try to beat those negative trends. you will see that there _ those negative trends. you will see that there is _ those negative trends. you will see that there is a _ those negative trends. you will see that there is a large - see that there is a large number of chinese brands here. they are expanding onto the european market aggressively. how much of the threat is that to you? i how much of the threat is that to ou? ., ., ., ., how much of the threat is that to ou? . ., ., ., . to you? i am old enough to have seen japanese — to you? i am old enough to have seen japanese coming _ to you? i am old enough to have seen japanese coming into - seen japanese coming into europe _ seenjapanese coming into europe. of course american

before — europe. of course american before and the japanese in the 80s before and the japanese in the 805 in— before and the japanese in the 80s in the 90s and then the koreans _ 80s in the 90s and then the koreans coming in. you sum up americans. _ koreans coming in. you sum up americans, japanese and koreans, they market share is probably— koreans, they market share is probably 25% not 95. so we are still there — probably 25% not 95. so we are still there alive and kicking. we have _ still there alive and kicking. we have been expanding in other markets — we have been expanding in other markets in — we have been expanding in other markets in the world. it's going _ markets in the world. it's going to _ markets in the world. it's going to be the same with the chinese — going to be the same with the chinese. 0f going to be the same with the chinese. of course right now one — chinese. of course right now one of— chinese. of course right now one of the challenges we have is the — one of the challenges we have is the chinese started on the ev side _ is the chinese started on the ev side earlier than so we have to catch — ev side earlier than so we have to catch up _ ev side earlier than so we have to catch up but don't underestimate the ability of the european tradition to find the european tradition to find the right— the european tradition to find the right measures of the challenge. do the right measures of the challenge-— the right measures of the challenue. ,, , ., challenge. do you need help to do that because _ challenge. do you need help to do that because the _ challenge. do you need help to do that because the eu - challenge. do you need help to do that because the eu clearly| do that because the eu clearly thinks you do and they have introduced tariffs on imports of chinese ev is supported by your own government, do you think there is a necessary move? , , ., think there is a necessary move? , ., think there is a necessary move? ., ., move? this is almost a legal issue and — move? this is almost a legal issue and is _ move? this is almost a legal issue and is not _ move? this is almost a legal issue and is not a _ move? this is almost a legal issue and is not a business i issue and is not a business issue _ issue and is not a business issue. there are rules of the

game — issue. there are rules of the game the _ issue. there are rules of the game. the watchdogs from the european — game. the watchdogs from the european side have certified that— european side have certified that some companies have not played — that some companies have not played the roles and that is why— played the roles and that is why we _ played the roles and that is why we didn't do like the americans where you had 100% on anything _ americans where you had 100% on anything that is chinese but it'siust _ anything that is chinese but it'sjust focused on anything that is chinese but it's just focused on some companies. sol it's just focused on some companies. so i have nothing to say on _ companies. so i have nothing to say on that _ companies. so i have nothing to say on that. you don't discuss a judgment of the supreme court _ a judgment of the supreme court. so the real question is are we — court. so the real question is are we able to catch up on those _ are we able to catch up on those chains which are controlled by chinese operators from _ controlled by chinese operators from upstream to downstream and can we _ from upstream to downstream and can we be — from upstream to downstream and can we be competitive in five years? — can we be competitive in five years? that is the real question. years? that is the real question-— years? that is the real ruestion. ., , ., ., question. let me ask you that question. _ question. let me ask you that question. can _ question. let me ask you that question, can you _ question. let me ask you that question, can you make - question. let me ask you that question, can you make cars, | question, can you make cars, electric cars, as cheaply and as efficiently as the chinese? it's possible that we just have to react — it's possible that we just have to react and we are doing it at

renault — to react and we are doing it at renault. we need to be creative and we — renault. we need to be creative and we need to be competitive. this is— and we need to be competitive. this is the — and we need to be competitive. this is the focus of our action _ to the uk now where the latest data on wage growth have raised expecations of further cuts to the cost of borrowing this year. average wages, excluding bonuses grew at an annual pace of 4.9% between june and august, falling below 5% for the first time since 2022. kathleen brooks is research director at xtb. there is a slight increase in the — there is a slight increase in the chance _ there is a slight increase in the chance of— there is a slight increase in the chance of a _ there is a slight increase in the chance of a cut - there is a slight increase in the chance of a cut next - there is a slight increase in - the chance of a cut next month in november— the chance of a cut next month in november but _ the chance of a cut next month in november but that - the chance of a cut next month in november but that was - the chance of a cut next month. in november but that was pretty much _ in november but that was pretty much prized _ in november but that was pretty much prized in _ in november but that was pretty much prized in already— in november but that was pretty much prized in already because i much prized in already because we have — much prized in already because we have seen— much prized in already because we have seen that _ much prized in already because we have seen that big - much prized in already because we have seen that big drop - much prized in already because we have seen that big drop in l we have seen that big drop in inflation _ we have seen that big drop in inflation and _ we have seen that big drop in inflation and were _ we have seen that big drop in inflation and were expecting. we have seen that big drop in. inflation and were expecting to see inflation— inflation and were expecting to see inflation tomorrow- inflation and were expecting to see inflation tomorrow full- see inflation tomorrow full below— see inflation tomorrow full below the _ see inflation tomorrow full below the bank _ see inflation tomorrow full below the bank of - see inflation tomorrow full below the bank of england target _ below the bank of england target of— below the bank of england target of 2%. _ below the bank of england target of 2%. the - below the bank of england target of 2%. the drop - below the bank of england target of 2%. the drop in. below the bank of england - target of 2%. the drop in wage growth — target of 2%. the drop in wage growth is — target of 2%. the drop in wage growth is symbolic— target of 2%. the drop in wage growth is symbolic and - target of 2%. the drop in wage growth is symbolic and it - target of 2%. the drop in wage i growth is symbolic and it shows that this — growth is symbolic and it shows that this inflation _ growth is symbolic and it shows that this inflation trend - growth is symbolic and it shows that this inflation trend is - that this inflation trend is persisting _ that this inflation trend is persisting but _ that this inflation trend is persisting but i _ that this inflation trend is persisting but i think- that this inflation trend is persisting but i think you| that this inflation trend is - persisting but i think you make a good — persisting but i think you make a good point _ persisting but i think you make a good point because - persisting but i think you make a good point because it's - persisting but i think you make a good point because it's not . a good point because it's not all bad — a good point because it's not all bad news _ a good point because it's not all bad news for _ a good point because it's not all bad news for consumers i a good point because it's not i all bad news for consumers and for us _ all bad news for consumers and for us because _ all bad news for consumers and for us because real— all bad news for consumers and for us because real pay-

all bad news for consumers and for us because real pay growthl for us because real pay growth is actually— for us because real pay growth is actually still— for us because real pay growth is actually still holding - for us because real pay growth is actually still holding up - is actually still holding up pretty— is actually still holding up pretty welt _ is actually still holding up pretty well-— is actually still holding up re well. ., ., pretty well. some out there are actually forecasting _ pretty well. some out there are actually forecasting the - pretty well. some out there are actually forecasting the bank i actually forecasting the bank of england could cut rates tomorrow —— twice this year in november and december. what are your thoughts on that? i november and december. what are your thoughts on that?— your thoughts on that? i think there is still— your thoughts on that? i think there is still a _ your thoughts on that? i think there is still a bit _ your thoughts on that? i think there is still a bit rich - your thoughts on that? i think there is still a bit rich at - there is still a bit rich at the _ there is still a bit rich at the moment. _ there is still a bit rich at the moment. when - there is still a bit rich atj the moment. when that there is still a bit rich at- the moment. when that will be solidified — the moment. when that will be solidified is— the moment. when that will be solidified is how— the moment. when that will be solidified is how bad _ the moment. when that will be solidified is how bad a - the moment. when that will be solidified is how bad a growth i solidified is how bad a growth deat— solidified is how bad a growth deal in — solidified is how bad a growth deal in 03— solidified is how bad a growth deal in q3 and _ solidified is how bad a growth deal in q3 and that _ solidified is how bad a growth deal in q3 and that is - solidified is how bad a growth deal in q3 and that is when i solidified is how bad a growthl deal in q3 and that is when we will see — deal in q3 and that is when we will see things _ deal in q3 and that is when we will see things ramp— december rate cut but i. definitely think the market december rate cut but i- definitely think the market is underpricing _ definitely think the market is underpricing the _ definitely think the market is underpricing the chance - definitely think the market is underpricing the chance of. underpricing the chance of bagging _ underpricing the chance of bagging them _ underpricing the chance of bagging them cuts. - underpricing the chance of bagging them cuts. therel underpricing the chance of. bagging them cuts. there is about— bagging them cuts. there is about four— bagging them cuts. there is about four and _ bagging them cuts. there is about four and have - bagging them cuts. there is about four and have kids - bagging them cuts. there is i about four and have kids priced in compared _ about four and have kids priced in compared to— about four and have kids priced in compared to six— about four and have kids priced in compared to six in— about four and have kids priced in compared to six in the - about four and have kids priced in compared to six in the us i in compared to six in the us and— in compared to six in the us and six _ in compared to six in the us and six in— in compared to six in the us and six in the _ in compared to six in the us and six in the eurozone - in compared to six in the us and six in the eurozone we i in compared to six in the us l and six in the eurozone we see 03 growth— and six in the eurozone we see 03 growth potentially- and six in the eurozone we see 03 growth potentially to - and six in the eurozone we see 03 growth potentially to paintl 03 growth potentially to paint a negative _ 03 growth potentially to paint a negative credit— 03 growth potentially to paint a negative credit —— _ 03 growth potentially to paint a negative credit —— territory. a negative credit —— territory that — a negative credit —— territory that is — a negative credit —— territory that is when _ a negative credit —— territory that is when we _ a negative credit —— territory that is when we will- a negative credit —— territory that is when we will see - a negative credit —— territory that is when we will see the | that is when we will see the bets— that is when we will see the bets on— that is when we will see the bets on further— that is when we will see the bets on further rate - that is when we will see the bets on further rate cuts - that is when we will see the i bets on further rate cuts and more — bets on further rate cuts and more rate _ bets on further rate cuts and more rate cuts— bets on further rate cuts and more rate cuts start - bets on further rate cuts and more rate cuts start to - bets on further rate cuts and more rate cuts start to rampj more rate cuts start to ramp up. _ global public debt is forecast to exceed $100 trillion by the end of this year, according to the imf. government debt, which ballooned during the covid—19 pandemic, has continued to rise as countries embrace higher

spending to stimulate economic growth, with the us and china driving the surge. the imf added that debt was set to approach 100 per cent of global gdp by the end of the decade. netflix could be set to report its slowest subscriber additions in six quarters on thursday as gains the company made from a password—sharing crackdown start to ease. according to new data from nielson, the streaming giant likely added 4 million subscribers in the july—september period. as the pace of sign—ups slows, netflix is trying to shift investor attention towards other performance measures including revenue growth and margins city officials in prague have announced a ban on all night patrol citing rowdy drinkers are unacceptable noise. the alcohol fuelled bar hopping is often organised by travel agencies but councillors say they want to attract wealthier and more cultured visitors to the city. prague has been a very popular destination for cheap beers and cheap prices for quite a long time. and finally we head to china

where a change in habits is proving to be good news for the coffee industry. traditionally a tea drinking giant, more and more people are turning to a capuccino or an expresso for their caffeine fix and business is booming. coffee shops are springing up all over the place with china now overtaking the us as the �*branded coffee capital of the world'. nathanael lim is a beverage expert from data analytics firm euromonitor international. i think ithink in i think in china people are turning to coffee because people are more educated about coffee consumption and they also have higher disposable income. more people are drinking coffee but we also have to recognise there has been a rise in the emergence of local coffee shops and in fact we do see the number of coffee shops and tea shops increasing by 72% and that is a lot of price competition going on. we do see price offerings and

innovative flavours and international players are also forced to offer price discounts or even coupons to attract price conscious consumers who alongside with innovative flavours. alongside with innovative flavours-— alongside with innovative flavours. . ,, ,, flavours. that is your business toda . flavours. that is your business today- stay — flavours. that is your business today. stay with _ flavours. that is your business today. stay with us _ flavours. that is your business today. stay with us on - flavours. that is your business today. stay with us on bbc- today. stay with us on bbc news.

you are watching bbc news. the pakistani capital is enough and is a major summit involving india and russia and iran begins. head of the meeting the chinese premier arrived for the first visit by chinese premier to pakistan in 11 years. the threat alert has been high in the country ahead of this summit especially after two chinese nationals were killed last week in a militant attack near karachi airport. 0ur

pakistan correspondent in islamabad is caroline davies and she says security is paramount.— and she says security is aramount. , . , ., paramount. delegates have started arriving _ paramount. delegates have started arriving here - paramount. delegates have started arriving here in - started arriving here in islamabad for the start of the summit and we are here in pakistan's media centre that has been set up for the summit. pakistan is very keen that this will go smoothly at the top of everybody�*s minds is security. bearin everybody�*s minds is security. bear in mind it'sjust over a week since two chinese nationals were killed in a militant attack just outside karachi airport. given that we have also had reassurances from the pakistan authorities who have said there are 10,000 security personnel that are deployed to try and make sure the city is safe and we know that schools and colleges have been told to close for the duration of the summit and a large amount of the roads here in the capital have also been blocked off entirely while the summit is going on. in terms of what is going to be summit is going on. in terms