i'm mariko oi. our top story this hour begins in the us.n just the last hour, disgraced cryptocurrency mogul sam bankman—fried has been found guilty of fraud and money laundering. the former head of now—collapsed cryptocurrency exchange ftx was accused of a series of misdoings, including stealing as much as $10—million from his customers. erin delmore reports from new york. sam bankman—fried was a towering figure in crypto. a self—made entrepreneur who promised customers worldwide that his ftx crypto exchange was the safe and easy way to get into cryptocurrencies. his businesses brought him great wealth. at one point he was worth $26 billion and propelled him into an a—list social network of celebrities, some of whom he paid to endorse. with ftc�*s, have everything i need to buy, sell and trade crypto safely. my goal has been to find ways to have positive impact on the world. my goal has been to find ways to have positive impact on the world. he charmed washington politicians by calling for greater regulation in the crypto industry and made

i'm mariko oi.gin this hour with interest rates — because the us federal reserve has left the cost of borrowing unchanged at a 22—year—high at their latest meeting. it's the second straight meeting that they have held rates steady after 11 consecutive hikes. the central bank's job to tame inflation was complicated by unexpectedly strong growth and consumer spending. while fed chairjerome powell said a painful economic downturn can be avoided, he also said reducing rates is out of the picture for now. our north america business correspondent michelle fleury reports from new york. after aggressively raising interest rates for the last year and a half, the federal reserve believes it's in a place where it can leave rates, where they are to cool the economy and to slow inflation from its current 3.7% on a yearly basis to closer to 2%. but even though america's central bank opted not to hike right now, fed chairjerome powell suggested officials are prepared to do more if inflation flares again. the idea

i'm mariko oi. we begin in the us, where a two—day meeting of federal reserve policymakers is under way. it sets the stage for a wednesday decision on whether they'll hike interest rates, or leave them unchanged. our business correspondent erin delmore reports from new york. what do you get when you add strong consumer spending, a tightjob market and remarkable growth? you get a resilient economy. an economy that defied earlier predictions of a recession, and one that's not buckling under the weight of the fed's interest rate hikes. see, raising interest rates is the fed's best tool to combat persistently high inflation, which consumers have seen reflected in higher prices for nearly everything. and while inflation has fallen by half from itsjune 2022 high of 7%, it's still higher than the fed's target of 2%. earlier this year, federal reserve policymakers hinted that they may hike interest rates once more before the year is out. they'll have a chance this week, or at their last meeting in december,

welcome to asia business report, with me, mariko oi.n news out in the past hour, flexible workspace provider wework has filed for bankruptcy protection in the united states. according to the court file income customary estimate its assets and liabilities are in the range of io— its assets and liabilities are in the range of 10— $50 billion. wework was once synonymous with the rise of coworking but has been grappling with losses and debts since 2019. let's get the details with monica miller. this was riveted reported last week so it was somewhat expected but still comes as a shock. it expected but still comes as a shock. ., , , shock. it does. this company became synonymous - shock. it does. this company became synonymous with - shock. it does. this company| became synonymous with the shock. it does. this company - became synonymous with the idea of a shared workspace and really disrupted the way that the commercial real estate industry functions but it never reached its profitability, as you said there. its assets and liabilities of som

welcome to asia business report with me, mariko oi. we begin with some news out in the last few hours. the hollywood actors�* union has reached a tentative agreement with studios to end strikes which have really rocked the entertainment industry. actors and, before them, writers, demanded higher pay, with a strike that lasted 118 days. costing the california economy some $6 billion. we bring in our reporter who has been following the story. the deal still needs to be approved by the board of the union. this is the sag union which represents a lot of the actors in hollywood, a lot of the actors that play smaller roles. so we don't know the details of the agreement, but we do know what those actors were demanding. you mentioned higher pay. they say that streaming giants have been profiting ever since the streaming era started, but that pay hasn't trickled down to the actors, the lower level actors in particular. they have concerns about advancing technology and artificial intelligence. they say that these streaming giants could use their

welcome to asia business report, with me, mariko oi. we wa nt to we want to begin with breaking news that we're just getting the flexible space provider wework has filed for bankruptcy protection in the united states. it was reported earlier, with the company didn't confirmed last week, but we have just got confirmation from the company that it has provided for bankruptcy protection in the united states. —— workplace provider. it has been suffering from huge debts since 2019 and in the last few years the company's shares have lost 99% of their value. according to what we are getting, the company's getting, the compa ny�*s liability getting, the company's liability is in the range of $10 billion that is according to the court filing. the company is that they will go through cognitive restructuring. it has been grappling with losses in debt since 2019. it was backed by soft bank ofjapan and has reshaped the office sector globally but it has now sought us bankruptcy protection on monday after its bets on companies using more of its coworki

welcome to asia business report with me, mariko oi. let's begin with separate stories that rocked the technology industry this week because on tuesday, the boss of the world's biggest crypto exchange finance quit after pleading guilty to money laundering charges in the united states and then the next day, only a week after being sucked sam altman returned as the boss of openai —— sacked. earlier, i spoke tojennifer duke scott who told me the drama at openai resulted from a bigger underlying conflict between public and corporate interest. 50 between public and corporate interest. . ., interest. so much to unpack in terms of what _ interest. so much to unpack in terms of what happened - interest. so much to unpack in terms of what happened at - terms of what happened at openai. i think this drama in the past few days ultimately really showed the tension between our society —— how society has been impacted and influenced and controlled by technology. certain parts of those surveys are supposed to be inaudible infrastructure and governed b

welcome to asia business report with me mariko oi. let's start in beijing where australia has met prime minister has met chinese prime minister has met chinese prime minister xijinping. the two leaders have expressed a desire to work together and move on from recent tensions. their relationship soured during the pandemic after australia's form government called for an independent intervention into the origins of covid—19. beijing imposed tariffs which were only left of this year. this is the chinese leader. translation: fix, this is the chinese leader. translation:— this is the chinese leader. translation: a healthy and stable relationship _ translation: a healthy and stable relationship is - translation: a healthy and stable relationship is on - translation: a healthy and stable relationship is on the i stable relationship is on the common interest of our two countries and people and meets the common expectations of countries in the region. we will push forward the development of the china — australia strategic partnership. australia

i'm mariko oi.t sets the stage for a wednesday decision on whether they'll hike interest rates, or leave them unchanged. our business correspondent erin delmore reports from new york. what do you get when you add strong consumer spending, a tightjob market and remarkable growth? you get a resilient economy. an economy that defied earlier predictions of a recession, and one that's not buckling under the weight of the fed's interest rate hikes.

i'm mariko oi.the us chips act, which heavily restricts beijings access to semiconductors. it comes ahead of a much anticipated planned meeting between the leaders of the world's two largest economies at the apec summit in san francisco in a few days. for more, let's cross over now to our asia business correspondent nick marsh who is at the bloomberg new economy forum, where some of the biggest names in business, economics and politics are gathering this week in singapore. nick — no doubt tensions between the us and china, as well as that rare earth ruling, will be top of the agenda for everyone there? he finished speaking in this alljust behind me, came out with his entourage, dozens of people. ifought my with his entourage, dozens of people. i fought my way through the crowd to talk to him for that what he said was quite interesting. he was basically

i'm mariko oi.fter pleading guilty to money laundering charges in the us. the next day, a week after being sacked, sam altman returned as the boss of openai. earlier, i spoke to founding partner of technology investment firm in capital, jennifer zhu scott. she told me the drama at openai resulted from a bigger underlying conflict between public and corporate interests. so much to unpack, in terms of what happened at openai. i think this drama in the past few days ultimately really showed the tension between... our society has been really impacted and influenced and controlled by technology. a certain part of those digital services are supposed to be

i'm mariko oi.state antony blinken visits the west bank and iraq — for talks with leaders in the region. he says discussions are ongoing about a "humanitarian pause" in fighting. there's no doubt from my conversations with all of our colleagues who were in oman yesterday that everyone would welcome the humanitarian pause because, again, it could advance things that we're all trying to accomplish, including getting hostages back, including getting a lot more assistance into gaza, including getting people out of gaza. israel says its forces have cut gaza in two, after its ground offensive against hamas reached the coast of the palestinian territory. they reached the beach at the southern part of the city of gaza and they've encircled gaza. and today, we have gaza north and gaza south. the israeli bombardment of gaza continues. our correspondent in gaza says tonight's air strikes have been the most intense since the beginning of the war. and prince william has arrived in singapore — to announce the win

i'm mariko oi.the cost of borrowing unchanged at a 22—year—high at their latest meeting. it's the second straight meeting that they have held rates steady after 11 consecutive hikes. the central bank's job to tame inflation was complicated by unexpectedly strong growth and consumer spending. while fed chairjerome powell said a painful economic downturn can be avoided, he also said reducing rates is out of the picture for now. our north america business correspondent michelle fleury reports from new york. after aggressively raising interest rates for the last year and a half, the federal reserve

reporting live from singapore, i'm mariko oi. the headlines.mpletely encircled gaza city, as prime minister benjamin netanyahu says the "height of battle" has been reached, in the north of the gaza strip. translation: i call on all civilians to get out - - get out, move south — because we will not quit our effort to eliminate the hamas terrorists. we will advance. we will advance and win. israel's bombardment of gaza continues. the un's agency for palestinians says 20 people have reportedly been killed in an air strike near a un school. and more foreign passport—holders have been able to cross into egypt from gaza. the situation is very chaotic and unpredictable. we are here in rafah, waiting for the foreign office to send us the clear instructions to move ahead to the crossing border. britain's prime minister sits down with elon musk the uk analysis of the world first agreement and how to manage artificial intelligence as it hopes a high summit with world leaders and tech giants. there will

welcome to asia business report with me mariko oi.ister has met chinese prime minister xijinping. the two leaders have expressed a desire to work together and move on from recent tensions. their relationship soured during the pandemic after australia's form government called for an independent intervention into the origins of covid—19. beijing imposed tariffs which were only left of this year. this is the chinese leader. translation: fit, this is the chinese leader. translation:— this is the chinese leader. translation: a healthy and stable relationship _ translation: a healthy and stable relationship is - translation: a healthy and stable relationship is on - translation: a healthy and stable relationship is on the i stable relationship is on the common interest of our two countries and people and meets the common expectations of countries in the region. we will push forward the development of the china — australia strategic partnership. australia strategic --artnershi. ,, ., , , partnership. simon baptist is the global— partnership.

welcome to asia business report with me, mariko oi. we begin with some news in the last hour.ked the entertainment industry. actors, and before them, writers, demanded higher pay, costing the california economy some $6 billion. it lasted 118 days. we bring in our reporter who has been following the story. do we know anything about this agreement they have managed to reach? ., , , , ., reach? not yet because the deal still needs _ reach? not yet because the deal still needs to _ reach? not yet because the deal still needs to be _ reach? not yet because the deal still needs to be approved - reach? not yet because the deal still needs to be approved by - still needs to be approved by their board of the union. this is the sag union which represents a lot of the actors in hollywood, a lot of the actors that play smaller roles. we don't know the details of the agreement but we do know what those actors were demanding. you mentioned higher pat’- demanding. you mentioned higher pay. they say that streaming giants have been profiting ever since the streaming era started, the pay hasn't

welcome to asia business report with me, mariko oi.to exchange finance quit after pleading guilty to money laundering charges in the united states and then the next day, only a week after being sucked sam altman returned as the boss of openai —— sacked. earlier, i spoke tojennifer duke scott who told me the drama at openai resulted from a bigger underlying conflict between public and corporate interest. 50 between public and corporate interest. . ., interest. so much to unpack in terms of what _ interest. so much to unpack in terms of what happened - interest. so much to unpack in terms of what happened at - terms of what happened at openai. i think this drama in the past few days ultimately really showed the tension between our society —— how society has been impacted and influenced and controlled by

welcome to asia business report with me, mariko oi. and, before them, writers, demanded higher pay, with a strike that lasted 118 days. costing the california economy some $6 billion. we bring in our reporter who has been following the story. the deal still needs to be approved by the board of the union. this is the sag union which represents a lot of the actors in hollywood, a lot of the actors that play smaller roles. so we don't know the details of the agreement, but we do know what those actors were demanding. you mentioned higher pay. they say that streaming giants have been profiting ever since the streaming era started, but that pay hasn't trickled down to the actors, the lower level actors

i'm mariko oi.here's no doubt from my conversations with all of our colleagues who were in oman yesterday that everyone would welcome the humanitarian pause because, again, it can advance things that we're all trying to accomplish, including getting hostages back, including getting a lot more assistance into gaza, including getting people out of gaza. israel says its forces have cut gaza in two, after its ground offensive against hamas reached the coast of the palestinian territory. they reached the beach at the southern part of the city of gaza and they've encircled gaza. and today, we have gaza north and gaza south. the israeli bombardment of gaza continues. our correspondent in gaza says tonight's air strikes have been the most intense since the beginning of the war. and prince william has arrived in singapore, to announce the winners of his earthshot environmental prize. my my from our studio in singapore. this is bbc news —— live from our