it's make or break for boeing, workers vote on their latest pay offer as the struggling plane maker prepares to reveal billions of dollars in losses. opening the flood gates, the government unveils the biggest review of the uk's water sector since its privatisation in the 1980s. the imf offers a brighter outlook for britain. what does it mean for chancellor rachel reeves ahead of labour's first budget in nearly 15 years? celebration on the stock markets in japan with its biggest market floatation for six years, but will shares in tokyo metro hit their potential? shares in tokyo metro soared 40% at the open. also in the programme — how starbucks�* new boss plans to put the caffeine back

into the world's biggest coffee chain. hello and welcome to business today. i am sally bundock. we begin the us, where it is a critical day for boeing. the aerospace giant faces a crunch vote later in its dispute with more than 30,000 employees in washington state and oregon. the workers have been on strike for more than a0 days in a row over their pay and benefits. they're due to give their verdict on a new deal negotiated between the company and their union, the iam. the company is also poised to release its third quarter earnings today as well that are expected to reveal multibillion—dollar losses at the company. our business correspondent theo leggett has the details. for boeing, the stakes are climbing ever higher. it's damaging billions of dollars thanks to a safety crisis, delays to aircraft

programmes and a damaging walkout by workers in its washington state heartlands. the six—week—old strike has paralysed production of the bestselling 737 as well as to 777 and the 767 freighter. their finances were quite precarious leading up to this strike with about m5 billion in net debt and now, of course, the strike has, well, halted their biggest single revenue stream by a wide margin, the 737 production programme. senior�*s at a rally last week had been demanding a 40% pay increase over four years as well as the return of traditional pension plans abolished a decade ago. here is what's on offer — a pay rise of 35% over four years, a one—time bonus of $7,000 and improvements to retirement packages but no return to traditional pensions. analysts expect a close run—vote. these workers picketing outside the 737 felt more concessions were needed.

—— plant. it's not we asked for. and i feel like the contract, it's not going to push the company forward. i have seen the new contract, it's looking better, but it's not quite there. i think if they came - with that in the beginning, there never wouldl have been a strike. but they will have . to do a little better. i think they are close. boeing is also under intense scrutiny from regulators over safety following this incident injanuary when an unused door fell off a brand—new plane shortly after take—off. its new high—tech, long—haul aircraft, the 777x has been repeatedly delayed. airlines won't receive it until 2026, five years later than planned. and its starliner space programme has suffered embarrassing failures, leaving astronauts stranded in space. it's a perfect storm because they are basically losing in all corners and it is the result of actually 30 years of mismanagement

where they have been prioritising the short—term profits instead of making good decisions and long—term decisions. the new chief executive, seen here on the left, is the man charged with clearing up the mess and then the strike in getting the factories up and running again is clearly a key priority. but much money is to be done if boeing is to leave turbulent times behind it and embrace a sunnierfuture. let's hear now from mike dunlop, independent aviation analyst and author of the art of the turnaround. joining us from seattle. do you believe the workers will say yes to this brokered deal that was negotiated over the weekend? i was negotiated over the weekend?— was negotiated over the weekend? ~ , weekend? i think it will be very close- _ weekend? i think it will be very close. i— weekend? i think it will be very close. i initially - weekend? i think it will be l very close. i initially thought it would be 80—20 in favour, now i'm looking at 60—40, but there is still a lot of resentment and it depends how it goes forward from here but i

think it will pass and most of the rank and file understand the rank and file understand the position the company is in. if this offer is rejected, what should boeing do?— if this offer is rejected, what should boeing do? they have to increase the _ should boeing do? they have to increase the communication. . should boeing do? they have to increase the communication. i l increase the communication. i think at this stage with the union, agreeing with the proposal and then being turned down for the second time, there really has to be a meeting where all the resentment that people have for the contract, the rank and file with the contract needs to be discussed. it cannot go on much longer. the financial damage to boeing is enormous and they have enormous problems they have to resolve, even outside the strike. �* , . ~ resolve, even outside the strike. �*, ., ~ ., ., strike. let's talk about that because the _ strike. let's talk about that because the q _ strike. let's talk about that because the q three - strike. let's talk about that l because the q three earnings because the 0 three earnings will be revealed, showing heavy losses for boeing. kelly

0rtberg has a huge task ahead. what do his priorities have to be? i what do his priorities have to be? ~' , ., 4' be? i think cash flow. i think he has to — be? i think cash flow. i think he has to right _ be? i think cash flow. i think he has to right the _ be? i think cash flow. i think he has to right the ship - be? i think cash flow. i think he has to right the ship in i he has to right the ship in terms of the financial outlook for the company and i think he has to stop all the divisions that are has to stop all the divisions thatare draining has to stop all the divisions that are draining cash flow and i think he made entirely the right move with the employer reduction because that sends a message that this is very serious. you don't let go 17,000 people unless the financial position is very serious. financial position is very seriou— financial position is very serious. ., ~ serious. how soon do you think we will see _ serious. how soon do you think we will see a — serious. how soon do you think we will see a turnaround - serious. how soon do you think we will see a turnaround at - we will see a turnaround at boeing? i we will see a turnaround at boein: ? ~ . ~ we will see a turnaround at boein: ? ~' ., ~ ., boeing? i think it will take a to le boeing? i think it will take a tepple -- — boeing? i think it will take a tepple -- a _ boeing? i think it will take a topple -- a couple - boeing? i think it will take a topple -- a couple of - boeing? i think it will take a topple -- a couple of years. j topple —— a couple of years. kelly 0rtberg is a very good operator, is well liked and i think that is a stark difference from previous ceos of the company. i think people genuinely like him and i think

because he gets to meet more and more company ——as he gets to meet more and more people in the company they will have more faith in him and he is a genuine leader.- faith in him and he is a genuine leader. faith in him and he is a aenuine leader. ., ~ , ., ., genuine leader. thank you for our genuine leader. thank you for your time _ genuine leader. thank you for your time and _ genuine leader. thank you for your time and your _ genuine leader. thank you for your time and your thoughts l genuine leader. thank you for | your time and your thoughts on boeing. and needless to say when we get the news from boeing, we will update you. now let's focus on what has been happening in the uk. more now on the independent commission that's being set up in the uk to deliver the largest review of the water sector since its privatisation in the 1980s. the commission will be led by former deputy governor of the bank of england, sirjon cunliffe, and will examine how best to tackle the tide of problems threatening to engulf the sector. fury has mounted in recent years over the uk's polluted waterways and crumbling infrastructure that is struggling to cope with the challenges of a rising population and climate change. here's our business editor simonjack.

water bills are rising. water bills will rise a lot if we are to fix a crumbling water infrastructure that has seen sewage spills, leaks and outages saw, provoking public theory. many have seen the company prioritising —— prioritising profit over people. i prioritising profit over maple-— prioritising profit over --eole. . ., prioritising profit over neale, ., ., ., ., people. i am not to pay more until we have _ people. i am not to pay more until we have our _ people. i am not to pay more until we have our rivers - until we have our rivers cleaned up. i will not pay more for people to line their pockets. for people to line their pockete— for people to line their ockets. ., ., , pockets. the government agrees industry and _ pockets. the government agrees industry and regulation - pockets. the government agrees industry and regulation is - pockets. the government agrees industry and regulation is not. industry and regulation is not working which is why it is launching the biggest review of the industry in the 35 years since privatisation which could see the reform or abolition of current regulators. the water industry itself welcomed the move. i industry itself welcomed the move. ., �* ~ . industry itself welcomed the move. «a, move. i don't think anyone can look at the _ move. i don't think anyone can look at the system _ move. i don't think anyone can look at the system i _ move. i don't think anyone can look at the system i think - move. i don't think anyone can look at the system i think it. look at the system i think it is working well. we have not had enough investment and our system is creaking under the weight of climate change and population growth and ultimately i think all of us

bear some responsibility including the regulator which has consistently denied sufficient investment needs to be put into the system. this new commission _ be put into the system. this new commission will - be put into the system. this new commission will not. be put into the system. this new commission will not report back until next spring. the negotiation about how much bills will rise in england and wales will rise at the next five years is happening now. the regulator agreed to average price rises of 90 —— £19 a year. the regulator agreed to a rise of 44% full southern water customers but only 11% or e9 rise of 44% full southern water customers but only 11% or £9 a yearfor customers but only 11% or £9 a year for customers of yearfor customers of northumbrian. water companies have invested nearly £200 million since privatisation in facilities like this new storm drain to cope with higher rainfall but they've also paid out 50 billion in dividends, millions in pay and sidled son companies with unsustainable debt. the government says nationalisation would cost taxpayers billions and take years in which the province would only get worse, so whatever this new commission

concludes, it seems inevitable the failures of the past will mean higher bills in the future. simonjack, bbc news. things are looking brighter for the british economy according to the international monetary fund. it's raised its growth forecast to 1.1% this year, up its previous forecast of 0.7%. that brings the imf more in line with the forecast from the office for budget responsibility. it predicts 1.5% growth for the uk. either way the figures put the uk in the middle of the pack of global nations. and the imf also welcomed the progress on taming a rise in prices, saying the battle against inflation is almost one.— the battle against inflation is almost one. . ., almost one. the decline without almost one. the decline without a ulobal almost one. the decline without a global recession _ almost one. the decline without a global recession is _ almost one. the decline without a global recession is an - a global recession is an achievement. much can be attributed to the unwinding of the new combination of supply and demand shocks that caused

the inflation in the first place. together with improvements in labour supply due to immigration in many advanced countries. but monetary policy played a decisive role, keeping inflation expectations anchored. let's cross live now to jane foley, head of fx strategy at rabobank. hello. the news from the imf could not have come at a better time for the chancellor, rachel reeves, as she prepares to deliver her budget next week. that is right because as you get to have increased growth, you have increased tax revenue so this is something that will be welcomed and has been welcomed by the chancellor but there is a lot of hard work to do for the chancellor. yes, we have better growth, but if you look at growth per head, that is looking pretty weak still because we have had a lot of emigration in the uk. it is interesting _ emigration in the uk. it is interesting because - emigration in the uk. it is interesting because i - emigration in the uk. it is interesting because i mentioned that puts us in the middle of the pack versus —— how we are

doing this is our peers in the g7. if you compare us to germany, it is pretty decent, 1.7%, isn't it?— 1.7%, isn't it? that is right. germany — 1.7%, isn't it? that is right. germany has _ 1.7%, isn't it? that is right. germany has been - 1.7%, isn't it? that is right. germany has been nine -- | 1.7%, isn't it? that is right. - germany has been nine -- mired germany has been nine —— mired under stagnation, germany has been nine —— mired understagnation, cannot shake under stagnation, cannot shake it understagnation, cannot shake it off, has structural problems in its industry, but yes the uk is doing better than germany, better than the eurozone, but doing a lot worse than canada and the us, both of which are forecast to have growth over 2.5%, so that guests us a quarter of 1% in november but there so that guests us a little perspective. in 2.5%, so that guests us a little perspective. in 2.5%, so that guests us a little perspective. in terms of 2.5%, so that guests us a little perspective. in terms of the challenges _ little perspective. in terms of the challenges head - little perspective. in terms of the challenges head we - little perspective. in terms of the challenges head we are i the challenges _ little perspective. in terms of the challenges head - little perspective. in terms of the challenges head we - little perspective. in terms of the challenges head we are i the challenges head we are waiting and there is so much the challenges head we are waiting and there is so much speculation about what will be speculation about what will be in the budget next week, in the budget next week, whether tax rises will come whether tax rises will come etc, who will feel the pain and etc, who will feel the pain and so much attention on the bank so much attention on the bank of england when it might next of england when it might next cut interest rates in the uk. cut interest rates in the uk. your thoughts on what is ahead your thoughts on what is ahead for us? it for us? it your thoughts on what is ahead for us? , , ~ , your thoughts on what is ahead for us? , , ~ , for us? it seems likely the bank of — for us? it seems likely the bank of england _ for us? it seems likely the bank of england will- for us? it seems likely the bank of — for us? it seems likely the bank of england _ for us? it seems likely the bank of england will- for us? it seems likely the bank of england will cut i bank of england will cut interest rates, may be a for us? it seems likely the bank of england will cut i bank of england will cut interest rates, may be a

quarter of 1% in november but quarter of 1% in november but there are there are questions about if it can hasten these rate cuts, so interest rates coming down is a boost to growth but a difficult life for the chance to work because she knows she needs to boot growth and to do that she needs to boost investment, but at the same time the date of the uk is very close to 100% of gdp and that means she probably has to raise taxation, so it will be very difficult to try and boost growth and at the same time stop the debt from rising. —— boost. d0 same time stop the debt from rising. -- boost.— same time stop the debt from rising. -- boost. do you agree with the nf _ rising. -- boost. do you agree with the imf when _ rising. -- boost. do you agree with the imf when they - rising. -- boost. do you agree with the imf when they say i rising. -- boost. do you agree| with the imf when they say the battle against inflation is pretty much one. with the geopolitics, there are still few —— a few unknowns that could cause a spike in inflation.— could cause a spike in inflation. . �* , ., inflation. that's right. you look at the _ inflation. that's right. you look at the war _ inflation. that's right. you look at the war in - inflation. that's right. you look at the war in the i inflation. that's right. you i look at the war in the middle east, an escalation of that could put upward pressure on oil prices but it has not had a lot of upward pressure to date

because there seems to be a lot of supply. demand in the globe has been relatively weak. china, a big consumer of commodities, growth there is very weak, and in the us, while growth is point, it is expected to slow from where it was, so what we have right now in the world what we