against the 35% pay rise offer. plus — the imf warns of the fallout from tariffs, telling the bbc a trade war could lead to a huge contraction in global growth. hello and welcome to business today. i'm steve lai. to our top story — 64% of workers from boeing's largest union have said "no" to a sweetened contract offer, which included a 35% pay rise over the next four years. ritika gupta has the latest from new york on what happens now. boeing machinists have rejected the latest contract offer, thereby extending the strikes command as you mentioned it wasn't even close, 64% voted in favour of rejecting it. there are no current talks set in place but the union president has been speaking and he says

he wants to change that he said the reason for the rejection is that the lack of pension is still at the heart of the matter and he says he wants bowing to get back to the negotiation table so he is calling, he says he will reach out to the white house for help in facilitating those talks and again bring boeing back to the table. on the table was the 35% increase in wages over the next four years and about 33,000 unionised workers, mainly in seattle, have now rejected that. while the salary offer was closer to what the strikers were demanding, they wanted 40%, it were demanding, they wanted a0%, it seems the pension, the lack of pension plan is still a big issue for them.— big issue for them. and this cominu big issue for them. and this coming on _ big issue for them. and this coming on the _ big issue for them. and this coming on the back- big issue for them. and this coming on the back of- big issue for them. and this coming on the back of the l big issue for them. and this i coming on the back of the fact they have reported huge losses, $6 million in the latest quarter, so it begs the question, what is next for bowing?— question, what is next for bowin: ? ~ , ., �* bowing? well, you're quite riaht, a bowing? well, you're quite right, a difficult _ bowing? well, you're quite right, a difficult time - bowing? well, you're quite right, a difficult time for. right, a difficult time for bowing and i think now they

will have to get back to the negotiation table. the new ceo, the restructuring plans will have to be stalled, we know there has been a halt in production of the keyjet so that will continue, we have heard from the results of boeing, a $6 billion quarterly loss, the worst since 2020 so big financial implications but also outside of boeing, for the suppliers, they will take a hit in production, we could see some more lay—offs there. there has also been a new study that says the economic hit for the economy could be about $7.6 billion so far. in earnings news — tesla reported strong sales numbers for the july to september quarter. during the earnings call, chief executive elon musk said he estimates vehicle sales to jump by 20% to 30% next year. that strong outlook sent shares of tesla up nearly 12% in the after hours trading. but it's not all good news for elon musk. us media is reporting that the justice department has issued him a warning over his lottery—style prize for voters, saying

that it could be illegal. musk has been offering registered voters from swing states a chance to win $1 million per day until the november election, if they sign a petition supporting the first and second amendment of the us constitution. let's turn now to the imf—world bank meetings currently taking place in washington. the us economy has been in focus — with the imf upgrading its growth forecasts for 2025. but concerns are rising over the outcome of the us election next month. the bbc�*s faisal islam sat down with the imf�*s deputy managing director gita gopinath, and asked her if she's concerned about a broad—based trade war, should donald trump get re—elected. if you look at the group of g20 countries, the us is the only country where the level of gdp is higher now than we had predicted before the pandemic. we said, well, in 2024, we had an estimate of what

the projection of the level of gdp would be in the us in 2024, it is higher than that. but one of the flip sides of that is high levels of debt, and ongoing deficit into the future, even before the presidential election. are there any concerns about the us and its fiscal position? one of our main messages at these meetings is that the world is sitting on very high levels of debt, and also we are projecting the debt will continue to grow. right now the world is sitting at about $100 trillion of debt, it is the point we have made that given how strong the us economy is, it doesn't really need this level of fiscal, size of fiscal deficit. our recommendation always, this is true for all countries, is that this is the moment to rebuild your fiscal buffers. we don't want to be drawn too much into the presidential

election but in general terms, when you have a potential policy, notjust of targeted trade barriers but general 10%, 20% tariffs on everything from every country, what is that going to do to the economy from the economist�*s perspective? we have looked for instance, if you have small levels of fragmentation, the effect on world gdp is small, about 0.2%, but if you have serious decoupling and broad scale use of tariffs, you could end up with a loss of close to 7%. so these are very large numbers, 7% is basically losing the french and german economies, that's the size of the loss. so there would be a big trade war between the us and europe and china and japan alljoining in. it would be a very severe fragmentation. we are not there yet. are you optimistic for the world economy right now? we have to look at the bright side, it is a world that has been resilient after some very tough knocks, inflation has

come down, growth is at 3.2%, we would love it to be higher but it's not bad, given all the shocks the world has faced but we have to prepare for what may come in the future. now to russia where the brics summit has been taking place. president putin wanted to show the west that their attempt to isolate him over the ukraine war have failed. and there were plenty of photo opportunities, with bilateral meetings between him and china's president xijinping as well as india's narendra modi. but as foreign policy expert maximilian hess explained, the group might not be as tightly knit as they appear. what he really desperately wants to have key agreements on some kind of new financial infrastructure that goes along with the brics organisation to allow him to evade sanctions, he spoke about that today, russia pushed very hard for an agreement on that language to be included. i think sometimes

wonder quite how important this is for putin. i have been doing some research on his speeches and he actually mentions this topic more often than he mentions nato. that being said, he's not had a lot of success, there have been similar readouts of the brics summer before, there are technical reasons why this structure will not be the work although brazil in particular is going to say things, president lula didn't even come to the summit and china will be able to have high—level economic talks, but president she has yet to receive anything. so there just building a larger pile of bricks. i building a larger pile of bricks. ~' ., ., ., , , bricks. i like the analogy. is it not in _ bricks. i like the analogy. is it not in china _ bricks. i like the analogy. is it not in china and - bricks. i like the analogy. is it not in china and india's i it not in china and india's interests to have an alternative to daily in the us dollar question certainly it is in the interests but china is an inborn holder of the us treasury is far—reaching because they underpin its financial system.-

because they underpin its financial system. these are also countries _ financial system. these are also countries who - financial system. these are also countries who have - financial system. these are i also countries who have strict controls and do not even fairly traded the currencies with one another. we see russian companies trying to get access to the china banking system. beijing has not allowed russia to use that relationship to tap into larger banking markets. on a fundamental social base these are countries that run capital surplus, whether it is russia, china, brazil, so there's no way for free capital to invest in one another. so we are a long way with four having any time for a brics currency but it is useful for these countries to come together to say they are unhappy with the us economic climate. german chancellor olaf scholz is leading a high—level delegation to new delhi today to expand trade and economic ties with asia's third largest economy. he will also be meeting business leaders on his three day visit.

the bbc�*s india business correspondent nikhil inamdar joins us from mumbai. nikhil — tell us, what's on the agenda for these talks? well, it is going to be a packed agenda, he will arrive later today but a big contingent, almost his entire cabinet, of course his bilateral meetings with narendra modi are going to be scheduled for tomorrow, but there will be discussing a range of issues from economic cooperation to security and defence. also trade ties. germany is very keen to expand its relationship with india because it wants to reduce its reliance or dependency on the chinese market. this comes at a time when there have been growing tensions between china and the european union and things such as a tariff on electric vehicles. india particularly well positioned at this point in time to capitalise on something like this because it is already calling itself the alternative

destination for a lot of those global supply chains wanting to diversify away from china. we already have some 2000 german companies that are operating in india with the likes of volkswagen, mercedes—benz and dhl saying they will be pumping in millions of dollars to expand their capabilities. that's the kind of language that these leaders would like to see. the other thing i would want to look out for is whether they say anything about those long pending negotiations on a free trade deal between india and the european union, that's been languishing for quite some time. , . . , been languishing for quite some time. , . ., , ., been languishing for quite some time. , . . , ., ., ., time. they certainly have a lot to talk about. _ time. they certainly have a lot to talk about. thanks - time. they certainly have a lot to talk about. thanks very - to talk about. thanks very much. and that's it for this edition of business today. thanks for watching.

hey, i'm lola with the catch up. tonight — idris elba plans a move to africa, safe sex for seagulls, and tom holland's spidey senses are back.

but first, firearms officers who face trial over shooting a suspect will have their identities hidden unless they are found guilty. that's been announced by the government minister responsible for public safety. it comes after officer martyn blake was found not guilty of murdering 24—year—old chris kaba, who was shot and killed after police stopped him in a car in south london in 2022. his family say they were devastated and will fight for justice. some other stories now. two survivors of the manchester arena bombing have won a high court harassment case against a former tv producer who falsely claimed the attack was staged. martin hibbert and his daughter eve sued richard hall for harassment and data protection. it was the first case against a conspiracy theorist in the uk. and idris elba has announced plans to move to africa and invest in its booming film industry. the actor has several ongoing projects across the continent, including a film studio in ghana and an eco—friendly

city in sierra leone. and do you think seagulls are a menace? well, one west midlands town certainly does, and they have a new tactic to deal with them. seagull food in worcester could be laced with contraceptive pills to reduce their numbers following reports of attacks. time now for ten seconds of some good news, sure to get your spidey senses tingling. it's happening. cheering yep, tom holland has announced that his fourth spider—man movie will begin shooting next summer. you're all caught up. have a great night. hello there and welcome along to sportsday. i'm gavin ramjaun. barcelona thrash bayern munich 4—1 in the champions league thanks

to a hat trick from rafinha. we hearfrom england captain ben stokes ahead of england's test series decider against pakistan on thursday. and oleksandr usyk and tyson fury face the media and each other ahead of their eagerly anticipated rematch later this year. hello there and welcome along to the programme. and we start with another evening full of goals in the champions league on wednesday. none more so than at barcelona, who got the better of fellow european heavyweights bayern munich in some style. rafinha's hat trick helping them to a 4—1 win. the winger opened the scoring in the first minute before harry kane equalised for bayern in the first half. robert lewandowski restored barca's advantage before two more superb finishes from rafinha sealed the points for the home side, who get their second win of the competition.