microsoft beat wall street estimates for quarterly revenue and profit on wednesday. its cloud computing business as your and office software boosted result assigned the companies have the investments in al are starting to pay off. sales increased 16% to over $65 million as your revenue grew 33% while profit rose to $30 cents a share. seen as a leader among big tech peers in the ai race thanks to its early investment in chatgpt maker openai, microsoft has wrapped up ai services across its product offering, helping attract more customers. it's a some good news for the stock which is one of the worst performers among big tech names — underperforming rivals

like alphabet and the benchmark it was stopped after google has benefited from al growth. on tuesday, it said ai help drive a 35% search in its cloud business. multi—billionaire elon musk has been told to appear in a court in pennsylvania on thursday, over his million—dollar giveaways to voters in swing states. prosecutors say the scheme is an illegal attempt to influence voters ahead of the us election. the billionaire boss of tesla is a leading backer of donald trump's presidential campaign. mr musk says those who want to take part do not have to be registered as republicans or commit to voting. manufacturing activity in china has expanded in october for the first time in six months. the official purchasing managers�* index rose tojust over the 50—point mark which separates growth from contraction. this supports hopes that recent stimulus will boost growth in the world's second largest economy. the european union hasjust imposed steep tariffs on electric vehicles made in china. china has filed a complaint to the world trade organization over the eu decision which follows a year—long investigation into whether chinese ev makers are getting unfair subsidies. jens eskelund is the president of european union chamber

of commerce in china. he told me that businesses aren't too worried about the dispute. we think a little bit that whole discussion about ev tariffs as a distraction. ev import into europe account for 1.8% of total imports from china. if you look at the other 98% in china, exports are doing absolutely fantastic. when you look at the first half, chinese exports to europe are up by 11% but if you look at the export into china, it's down by 5% of what we are seeing is notjust that the trade imbalances between europe and china are growing but in fact, that they are accelerating and we think that's actually the bigger issue at play here. ev�*s are important but it's a minor, minor part of the all relationship and we think

sometimes it's important that we look at the 98% and not just the 2% in order to add a proper estimation of the issue and the issue at hand here is that it is just become very difficult for european companies in view of 2a consecutive months of deflation in china so they are eroding, chinese exports are becoming more competitive for good and sometimes bad. these are good reasons and that's putting european pressure. it is in part the low consumer demand from china, therefore leading to a lower demand for products to be built from europe. can we talk briefly, 35% tariffs on this industry and as you say, it's a small part of the overall trade picture but a wto filing isn't good and there are, of course, tit—for—tat tariffs that we've seen so far, potentially brandy and port dairy, are there fears that they could escalate how businesses there feeling about this change in discourse in rhetoric? i think on the current direction of a trade

war is unavoidable. we have seen exceptionally strong growth in chinese exports, if you go back to (m, china accounted for about 32% of all containers exported worldwide and today, china accounts for 37% of all containers worldwide and they are simply no way that the world can continue to absolve this very, very rapid growth in the chinese exporter so i think that unless something changes that china gets the demand in china down again, i think unfortunately, it's a foregone conclusion that we are moving towards a trade for — trade war. and that's what needs to get avoided but it also requires the chinese side that they recognised that something is out of balance here and it needs to get addressed.

now we're going to have a look at some live pictures from taiwan — where super typhoon kong—rey is expected to make landfall in around 1.5 hours, at about 2pm local time. as you can see here — there are already heavy winds and rain hitting the city of teitung, in the east of taiwan. taiwan has shut down in preparation for the storm — its expected to be the biggest in almost 30 years. workers have been given the day off and financial markets are shut. the island is home to businesses like chip giant tsmc, which is bracing for the storm but it says it does not expect a "significant impact to its operations". this is a story will continue to monitor as you see there, wins and rain, around the five metre mark. —— winds. over to japan, where its central bank has left its key interest rate

on hold as expected. this comes after a snap election led to a loss for the ruling coalition. investment analyst rei murakami explains how the result could influence rates in the months ahead. going forward where the opposition party having bigger voices, they are pressuring more on military easing so that will make it difficult for b0] to raise the interest rate but the same time, i think a huge depreciation in yen, that will be more problematic than slight interest hike so whenever the usd—yen goes up to 160, that'll be an opportunity b0] to further to the interest hike in a more stable manner. japan for years talked about stagflation, no sign of price increases now for the first time in a long time, we are talking about inflation, what does this mean for people there? what's the response? i think it's a lot of concern around inflation and that's one of the reasons why opposition parties have kind of increased their seat so within the election, opposition parties focused on combating the inflation, stimulating the consumer spending at the same time, even talked

about appealing tax cuts but i personally think this is not necessarily a positive impact on the long—term economy asjapan has 2.6 x to gdp ratio and the election, there was no discussion or debate on the physical consolidations so on the long run, this increased government spending and increasing the government debt might have a negative impact onjapanese economy. back in the 19805 and 1990s, williams was one of the biggest names in formula one motor racing. but then, it all went wrong. years of decline left the cars at the back of the grid, and the future of the team itself in doubt. four years ago it was taken over by a us investment fund which is determined to bring it back the glory days. our correspondent theo leggett spoke to the man charged with turning that

dream into reality. the timeframe i'm comfortable talking about is �*27—�*28, we should be able to win race again, which sounds awfully far ahead. there will be people listening to us going, surely, you can see what others are doing, just copy that, but it doesn't work that way, that is into a short—term, you can copy what they did ten weeks ago but that doesn't help you win championships, these cars evolve at such rate that you have to be on the leading—edge in pushing the boundaries, and if you're copping someone else, you'll be at midfield. that's why i love the sport because it's to your point, if you stand still, you're going backwards and the complex to what is this car would develop would have been winning races last year, but the development rate is enormous. the timeline is founded around how long it will take to bring in individuals from other businesses in formula 1 who want to come here and formula 1 is very restrictive, it's a two—year

waiting time for your really strong individuals. machines and infrastructure, depending on what you invest in, can be 12 months, can be 36 months, you have to invest in that and it kicks in about three years time. just part of what i consider the foundations will take a number of years to build and the biggest part of those is people and culture. what can the rest of the economy, like other businesses learn from what happened here in formula 1? one of the key points is just how quickly an organisation to move. one of the differences why i'm in formula 1 personally is that we will take an engineer and give them a engineering complex task and give individuals two weeks to get and resolve it. not five years. what we are good at doing, not all teams but i believe what we are good at doing here at williams is creating a culture where failure is part of the process. and we reward it. if you failed, not through incompetence or negligence but you failed because you're

pushing the boundaries over the boundary or technology, i'll rewarded, i'll put you up on the pedestal, as long as you take the learning and put it back to the organisation, that's how you become potent. it's the right environment to do it. and i think we as formula 1, that very quick learning feedback and failure, we are very strong. they have a long road ahead of them if they will take over max verstappen and red bull. and that's it for this edition of business today. thanks for watching.

hey, i'm ben and this is the catch up. tonight: spanish flash floods, stolen bluey coins and drama in the baseball world series. but first, labour have delivered their first budget in 1a years and there's good news for young people who are set to see the largest increase in the minimum wage. 18—to 20—year—olds will see an increase of more than 16% and apprentices almost 18%. the government say they want the minimum wage to be the same for everyone. now, their big announcement was a series of tax rises which will mainly affect business owners but the tories are accusing labour of breaking its election promise to not raise taxes. there will also be a new vape tax of £2.20 per ten

mills of liquid. and what do you reckon got this reaction in parliament? cheering. big cheers because alcohol gt on draught beer is getting cut so how much will we actually save? which means a penny off the pint in the pub. some other stories now and flash floods in spain saw a years worth of rain fall in the space ofjust eight hours. at least 90 people have died and the government has declared three days of national mourning. and police in australia say they have recovered around 40,000 limited—edition bluey coins. that's right, the children's tv show. these coins are produced by the australian mint but 63,000 were stolen before they could even launch. time now for ten seconds of baseball drama. last night, a pair of yankees fans ripped the ball out of the glove of dodgers fielder mookie betts. the batter was still called out and the fans were kicked out, but the yankees did go on to win the match.

anything to help your team. right, you're all caught up. have a great night.

hello there, i'm olly foster. here's what's coming up for you on sportsday. interim boss �*inter�* the league cup quarterfinals. ruud van nistelrooy sees manchester united score five at old trafford. musiala hits a first half hatrick for bayern as they make it through to the last 16 in the german cup. and 50 years on, we look back

at one of boxing iconic fights when muhammad ali faced george foreman in kinshasa. hello there, welcome along. ruud van nistelrooy�*s first match as interim manchester united manager couldn't have gone much better. as negotiations continue to acquire the services of the sporting manager ruben amorim, united beat leicester city 5—2 at old trafford to reach the league cup quarterfinals. that was one of six ties on wednesday night with also wins for holders liverpool, crystal palace, newcastle united, arsenal and tottenham, none of them went to penalties. earlier, i wasjoined by our reporterjoe lynskey and we started by talking about the manchester united game.

this was part one of what could be a very short audition