and cathay pacific finds faulty engine parts in nearly a third of its a350 fleet, could safety concernsurt travel demand 7 hello and welcome to business today. i'm steve lai. wall street kicked off september with a big sell off, which left major indices sharply lower. the technology sector was the hardest hit led by chip maker, nvidia fresh data showed us manufacturing activity is still contracting, raising concerns about the health of the wider economy. the bbc�*s north america business correspondent ritika gupta has the details. the s&p 500 saw its biggest slide since an early august meltdown, ending the session down 2%. this comes after a rally that put the benchmark within a striking distance of its all time highs. technology stocks, the gauges most influential group, took the brunt of the decline. the nasdaq index closed down by 3%, while the dowjones index slipped by 1.5%. one of the biggest losers on the day was nvidia, the high flying artificial intelligence darling, which raised more than $240 billion in market value. the chip maker shares closed down over 9%. 0ther semiconduct

and cathay pacific finds faulty engine parts in nearly a third of its a350 fleet.ould safety concerns hurt travel demand? —— asia markets falling. hello and welcome to business today. i'm steve lai. take heavy industries like the neck and seeing the biggest losses within the get down. that after the nasdaq fell more than 3% dragged down by a nearly 10% drop in chip giant nvidia. it's the deepest single static line for a us company. optimism around ai seems to be reducing. but there are also concerns about the wider us economy — that led to a wider sell—off on us markets, as ritika gupta explains. the snp 500 saw its biggest slide since an early august meltdown, ending the session down 2%. this comes after a rally that put the benchmark within a striking distance of its all time highs. technology stocks, the gauges most influential group, took the brunt of the decline. the nasdaq index closed down by 3%, while the dowjones index slipped by 1.5%. one of the biggest losers on the day was nvidia, the high flying artificial intelligence darling, which raised more than $

and cathay pacific finds faulty engine parts in nearly a third of its a350 fleet.ould safety concerns hurt travel demand? hello and welcome to business today. i'm steve lai. shares of ai giant nvidia have fallen by almost 10%. it's the deepest single—day decline in market value ever for a us company. optimism around ai seems to be reducing. but there are also concerns about the wider us economy — that led to a wider sell—off on us markets, as ritika gupta explains. the snp 500 saw its biggest slide since an early august meltdown, ending the session down 2%. this comes after a rally that put the benchmark hello and welcome to business today. i'm steve lai. shares of ai giant nvidia have fallen by almost 10%. it's the deepest single—day decline in market value ever for a us company. 0ptimism around ai seems to be reducing. but there are also concerns about the wider us economy — that led to a wider sell—off on us markets, as ritika gupta explains. the snp 500 saw its biggest slide since an early august meltdown, ending the session down 2%. this comes after a rally th

cathay pacific has identified 15 of its airbus jets as needing new engine parts. its planes on monday after one was forced to return to hong kong shortly after take—off. when a part of the rolls—royce engine failed, dozens of other flights were cancelled. without identifying the specific part cathay pacific said it was the first time it had failed worldwide. adding that its engineering team would have all aircraft prepared and cleared for operation by saturday. they have time for the markets? a quick look. basically many of the key indices are retreating and that is because most of the markets around the world are all waiting on those key us labourfigures. you can see all waiting on those key us labour figures. you can see the ftse in london is down, and the dow is also done in the us significantly. those big numbers, thursday and friday, and as ever we will bring them to you here.

also ahead, cathay pacific forced to cancel flights for inspections of its h three. over issues with the rolls-royce engines. the material maker global wafer discusses expansion plans in the tech tussle between china and the u.s. let's take a look at how markets are doing this to say in the asia-pacific. avril hong is in singapore. april: -- avril: it's a subdued move as we wait for the u.s. markets to reopen after the long weekend. japan, as you mentioned, is the outperformer. we see gains among the financial stocks including insurers amid higher yields. we see the benchmark flat. but the korean won is among the currencies that are worst-performing against the greenback. we got a cpi print that shows it was watching and 2% target. so there are those that think we could see it easing, that pivot coming as soon as next month, china has been in focus in the past two sessions amid this macroeconomic weakness that really came through from the data that we got on the manufacturing front. over the weekend, csi 300's of the worst decline in the month. a bit of recouping of

the company said it is working closely with cathay pacific with the investigation.hat turned the stock price around. it was significantly higher up as we started the day's trading. as you see, that petered off a little bit. so, good morning to you and welcome back, dom. >> thank you very much. dp arabile gumede, trying to get back to work here. >>> trouble for elon musk in the key south american market. silvana henao is here with those headlines. silvana. >> dom, good morning. that is right. a panel of the brazil supreme court justices voting monday to uphold the ban on elon musk's social media platform x. this after brazil's top justice issued an order last week to ban x from the country for failing to comply with regulations concerning content moderation. the brazil president da silva is weighing in saying his country should be an example for the rest of the world for how to deal with elon musk adding that the world is not obliged to put up with his far-right ideology because he is rich. bill ackman said the shutdown could put brazil on the rapid path to becoming

. >>> to another story that is catching the air waves, cathay pacific announced an inspection of thentire airbus a-350 fleet following the in-flight failure of the engine component which happened yesterday. shares of the supplier rolls-royce fell sharply on the news. it is working closely with cathay pacific on the investigation. >>> watches of switzerland reported quarterly results in line to hit full-year targets. the demand for luxury brands remains strong in the uk as well as u.s. markets. share price this morning up over 8%. >>> snchneider electric ceo announcing a key to race development for a.i. models. the more they develop, the more we get. >> if you look at the data, schneider is the largest provider of infrastructure that goes into the center. from that perspective, it is big and a lot of money flowing in and a lot of projects are being planned. it is a little bit of a race at the moment because everybody wants to have the latest model to use a.i. with chatgpt and gemini and a number of them. the more these models are, the better the answers are you getting from a.i. >>> l

shares in rolls royce have fallen sharply after news of the failure of one of its engines on a cathay pacific2a flights in order to inspect its fleet. cathay did not provide details on the engine failure and that's it for this edition of business today. thanks for watching. and be back shortly with newsday, bye for now. hey, i'm lola with the catchup. tonight, the uk suspends some arms exports to israel, a new system for scotland's youth offenders, and pharrell�*s life in lego. the uk is suspending 30 export licences for military equipment to israel. it comes as protests continue in israel calling for the government to secure a hostage release deal with hamas after the bodies of six hostages were recovered from gaza. here's a family member of hostage keith siegel. we are demanding our government to sign a hostage deal and save the hostages while they still can be saved. foreign secretary david lammy addressed the house of commons on that arms embargo. for certain uk arms exports to israel, there does exist a clear risk that they might be used to commit or facilitate a serious violation of int

and cathay pacific finds faulty engine parts in nearly a third of its a350 fleet.ness today. i'm steve lai. shares of ai giant nvidia have fallen by almost 10%. it's the deepest single—day decline in market value ever for a us company. 0ptimism around ai seems to be reducing. but there are also concerns about the wider us economy — that led to a wider sell—off on us markets, as ritika gupta explains. the snp 500 saw its biggest slide since an early august meltdown, ending the session down 2%. this comes after a rally that put the benchmark

and cathay pacific finds faulty engine parts in nearly a third of its a350 fleet, could safety concerns off september with a big sell off, which left major indices sharply lower. the technology sector was the hardest hit led by chip maker, nvidia fresh data showed us manufacturing activity is still contracting, raising concerns about the health of the wider economy. the bbc�*s north america business correspondent ritika gupta has the details. the s&p 500 saw its biggest slide since an early august meltdown, ending the session down 2%.

and cathay pacific finds faulty engine parts in nearly a third of its a350 fleet.oday. i'm steve lai. take heavy industries like the neck and seeing the biggest losses within the get down. that after the nasdaq fell more than 3% dragged down by a nearly 10% drop in chip giant nvidia. it's the deepest single static line for a us company. optimism around ai seems to be reducing. but there are also concerns about the wider us economy —

focusing on airlines with cathay pacific, disruptions to claims, inspections carried out around the airbuseen hong kong and singapore. it seems to be revealing engineers have been checking fuel lines suspected to be the reason why they have canceled the airbus flights for what our fleet wide precautionary checks according to people familiar with the matter. they've asked for specific checks to hoses supplying fuel to the engine. that is according to the people who have asked not to be identified. this story continues to evolve and the issue around supply chains for these aircraft makers has been prominent in recent months. this involving inspections of a350's halting flights between hong kong and singapore. the price right now is down 2.3%. today's big take digs into volkswagens moves, a historic move being considered to shutter factories in germany, chinese manufacturers are racing to produce vehicles. let's get more with elizabeth. what does this say about the state of cars in europe and how careless the situation is? elizabeth: i would say since last you there has been a sense of things

cathay pacific is inspecting all its airbus a350 jets after the failure of an engine component forcedolls royce, the sole engine supplier to the a350 — down over 6%. cathay says it has cancelled 24 return flights today while the planes are checked. rolls royce says it's working closely with the airline, airbus and regulators. brazil's supreme court has upheld a ban on social media platform x, formerly known as twitter, in a unanimous vote byjudges. x has been suspended in brazil since the early hours of saturday amid an ongoing feud between supreme court justice alexandre de moraes and x's owner elon musk over the alleged spreading of disinformation on the platform. coming up: lights, camera, ai. why the movie business shouldn't fear the rise of artificial intelligence. we'll be going to venice to hear from a top film director who is embracing the technology. around the world and across the uk. this is bbc news. now if you are a petrol head with a spare £333,000 burning a hole in your pocket, and maybe a fewjames bond aspirations, this may interest you. that's the price tag on aston m

hong kong airline cathay pacific has cancelled dozens of flights after a plane bound for zurich was forcedys it has now inspected all 48 of its airbus a350s and found 15 aircraft with faulty parts in their rolls—royce engines that need to be replaced. cathay says disruptions will continue until at least saturday. does big tech give you a big headache? why many bosses are afraid to admit they don't understand technology. around the world and across the uk, this is bbc news. you are with business today. japan's nippon steel has been on a pr push to try and salvage its $15 billion deal to take over us steel. the deal now looks in trouble whoever wins the us election with both donald trump and kamala harris pledging to keep us steel american. vice president harris made her the pledge during a labor day campaign rally she held with president biden in pittsburgh, pennsylvania on monday. pennsylvania is home to us steel and a key swing state. president biden had already committed to blocking the japanese takeover. here's what she said. us steel is an historic american company, and it is vitalfor

and aviation safety agency will require inspections of airbus engines after a midair fire on a cathay pacifice to ground planes and operators must check for damage inside engines. donald trump unveils plans including a tax cut and tapping elon musk to head up and efficiency task force. the details next, this is bloomberg. ♪ ♪ >> welcome back to bloomberg. donald trump pledges to cut corporate tax rates and audit the federal government as he pitched his agenda. he says he will prioritize the economy. trump: to support american manufacturing my plan calls for tax credits, 100% bonus depreciation, expensing and reduction in corporate tax, 15% for companies that make their product in america. ,: join now by kriti gupta. kriti gupta, this sounds like a full-blooded pitch to corporate america. there is a deep division now from kamala harris and trump. kriti: the -- the -- the thing is these are two candidates trying to appeal to voters because the biggest topic is the economy, inflation, more so than any other, this is where they are trying to make strides with donors and that's where the comments

we know that hong kong express, this is the budget wing of cathay pacific, has canceled six flights united has also canceled flights to hong kong hong kong is greater bay airlines has also announced cancellations. and in mainland china, meanwhile hundreds international airport is canceling all flights from 8:00 p.m. thursday evening to friday midnight. now, southern china will certainly feel the effects of the super typhoon especially the island province of hainan. it's known as the hawaii of china, its famous for its sandy beaches, its five-star resorts, and the government there on hainan has upgraded its emergency response. we knew that bus services there, ferries, rail lines, along with flight lights all suspended their and residents and tourists have been advised to not go outside unless necessary. we also learned that fishing vessels have also been recalled in hainan, as well as neighboring guangdong province. chinese authorities. they're not taking any chances this summer trying to his hat. another cruel summer devastating season didn't of extreme rainfall, deadly flooding, hundreds

cathay pacific said it had to ground 15 of the airbus a350s in its fleet because an engine componentfailed during a flight headed to zurich. the carrier says three planes have already gone through successful repairs, and the remaining raft will continue to be out of service until repairs are completed. well, the first presidential debate between kamala harris and donald trump is scheduled to take place one week from today, and with the election season heading into the final stretch, both campaigns are kicking into high gear. and as douglas zator reports from washington, the margins are still very tight. >> by all indications, this debate next week is still a go, even if there's still some wrangling over the rules. >> can we please give it up again for our president, joe biden? >> vice president kamala harris enlisted her boss to help her campaign yesterday in pennsylvania, a state where president joe biden has strong ties. and along with attacks on former president donald trump, there was a sense of urgency. >> so we're 64 days out from this election. ballots in pennsylvania will sta

. >> cathay pacific airways a350 fleet will resume operations by the weekend after repairs to their enginel lines. the airline found 15 of its planes needed these repairs, and that led to several flight cancellations. the inspections came after a jet experienced an engine problem this week. engine maker rolls-royce has not yet ordered fleet wide inspections. other airlines say they are closely monitoring the situation and are in touch with rolls-royce. new at six an interesting new way to wash the fruits and veggies you buy at the store. but experts are warning don't do it, according to the huffington post. a viral tiktok video suggests putting your produce in the dishwasher to get the job done. experts say this could actually cause contamination and promote the spread of foodborne illnesses. and even if you use vinegar in the rinse cycle, experts say the dishwasher does not sanitize your produce. who thought of this? >> this is wild. yeah, i mean, it makes no sense. >> wash the produce. >> yeah, yeah, exactly. okay next, at 630, city leaders trying to stop public funds from being misused.

jonathan: the latest on cathay pacific airways canceling some flights.or the rolls-royce made engines. no other airline has come forward with similar issues. what do you make of that? lisa: i make this is a story because everyone is looking for problems with planes. how often do we talk about problems with planes since what happened with boeing? is that what we are looking for? how much of the industrial production snafus with rolls-royce and boeing are related to left over pandemic supply chain issues in the workforce and what happened there? jonathan: let's hope it is isolated to a very specific issue. the latest on retailers looking ahead to the holidays with summer coming to a close. the companies that seem to be winning are amazon and walmart. we already know retailers are planning to promote more this fourth-quarter. welcome to the program. let's talk about back-to-school shopping first of all. how strong have things been over the last couple days? sucharita: the challenge is that the national retail federation a couple months ago predicted that it

. > >>> shares of rolls-royce rebounding after cathay pacific canceled flights after engine issues on flight from hong kong to zurich. the flight returned to hong kong. it completed repairs and expects to complete the other repairs by friday. the airline is fully informed on the developments. deutsche bank is positive on the stock because liab liability, would be contained. >>> we have more on the broadcast in the next three hours. the holiday-shortened trading week. it feels like a long week. we have a flurry of jobs data coming up and later, we will talk about the next vemo from loretta mester. "squawk box" coming right back after this. right through itsg in the capital markets, our data science capabilities can provide a deep level of insight. at ice we have extensive data sets, especially around three pillars. the property, the mortgage and mortgage performance. this trifecta of data and its history is a bit of a data scientist's holy grail. ♪♪ ( ♪♪ ) sometimes, all the tenacity and grit in the world... ...can't overcome the boundaries we face. ( ♪♪ ) so morgan stanley is partneri

dani: cathay pacific is canceling more flights from thursday to saturday. it is still exciting a fleet of engines. at least 15 planes need engine fuel lines replaced. at least 90 flights have been canceled in total. earlier this week a part failure forcing an aircraft bound for zurich to return to hong kong. nvidia facing a new subpoena from the doj, part of a growing antitrust probe. people familiar telling bloomberg the legally binding request with the government one step closer to launching a formal complaint. antitrust officials are concerned that nvidia is making it harder for customers to switch to other suppliers. at the same time, penalizing buyers who do not exclusively use its ai chips. before the announcement nvidia shifted $279 billion in the wider equity route, the most ever for a single stock. sticking with nvidia, the ceo 's wealth tumbled, it sunk about $10 billion. it now stands at $94.9 billion as of tuesday. that is the biggest single day drop for him since the bloomberg billionaire index started tracking his wealth in 2016. that is your

preparations intensified after former us indo-pacific commander phil davidson warned that cathay couldtaiwan within six years. also, cia director bill burns told the financial times that 20% of this budget is dedicated to china, which is 200% more than in three years. the white house announced the meeting of ukrainian president volodymyr zelenskyi with his american counterpart joe biden in the united states on september 26. the american administration also reports that meetings with vice president kamela harris are planned. a meeting with the candidate from the republican party is also planned ex-president donald trump. the latter comments a lot on the situation in... the country, and also gives his assessment of how the war should be ended. ex-president donald trump once again stated that under his presidency no russian-ukrainian war would ever happen. and he repeated his famous phrase that if he finds himself in the white house again, he will end this war within 24 hours, and even before he is officially sworn in as the president of the united states. also this week , the foreign min