We start with the cost of borrowing, because the worlds most powerful central bank, the us Federal Reserve, has cut Interest Rates for the First Time Since the financial crisis more than a decade ago. The move disappointed financial markets, not to mention President Trump. They wanted a bigger cut or at least a clear signal that more cuts will come. But the move is part of a global trend of falling borrowing costs from europe to asia to south america as the Economic Outlook grows more uncertain. Lets show you the details. The fed cut its main Interest Rate by 0. 25 to a range of 2 2. 25 . Chairman Jerome Powell citing signs of a global slowdown. Last week European Central bank chief mario draghi made it clear it they are going the same way with markets expecting a rate cut in september along with more stimulus measures. Today its the turn of the bank of england. Its not expected to cut today, but markets are betting it will do so by december, amid rising risks of a no deal brexit. It wasnt so long ago their next move was expected to be up. Indias central bank was the first to cut rates, it has now done it three times this year. The reserve bank of australia has cut at each of its last two meetings, taking borrowing costs to a record low. And in the last few hours brazils central bank has cut its Interest Rates again to a record low. From the Federal Reserve in washington, heres michelle fleury. But the last time those inside this building cut Interest Rates, it was, as you pointed out, in the depths of the financial crisis. Since then, america has enjoyed its longest period ever of uninterrupted growth. But the fed felt it was necessary to act now, to cut rates by 0. 25 , because of trade tensions and also a weakening Global Economic picture. Now, explaining the decision, Jerome Powell, who is the chairman of the Federal Reserve, talked about a mid cycle adjustment. It is intended to ensure from global risks, to help offset the effects these effects are currently having on the economy does make these factors. After the announcement, donald trump expressed his frustration, saying that mr powell had let us down by not taking a more aggressive stance on Interest Rates. Earlier, when asked if they had caved to white house press, mr bell had this to say. We never take into account political considerations. There is no place in the considerations for that. Us stocks fell on the news. Wall street had hoped that many more cuts would follow. However, mr pauwels said this was not the start of a long cycle of rate cuts, rather, it would continue to monitor the us economy and act as appropriate. Professor Rajneesh Narula from Henley Business School joins me now. Good to have you with us, professor. It looks as though, this is setting the tone, globally for borrowing costs to come down. But Interest Rates never really recovered to the point that they were at pre financial crisis, did they . Thats right. Ever since donald trump has come into power, he has unsettled the markets, increased uncertainty, continuing trade wars and skirmishes that he has been doing has created a lot of uncertainty, a lot of concern and people just dont feel safe investing money in markets. I mean, we can see people withdrawing to safe havens like the us dollar and of course keeping money in your bank rather than investing it. Eight markets have been touching record highs, havent they . Especially while street. Yes, they have, but i suspect these are Portfolio Investments rather than short term investments. Everyones skittish about the future. More People Holding in Bank Accounts rather than investing it. We are seeing this happen globally now. Taking that point, do you think the fed should have signalled more clearly that it would cut rates in the coming months in order to kind of boost about confidence among investors . Well, you know, one can go too far with these things and i think this is what powell is trying to avoid. 0. 25 , it isnt going to lead to increased liquidity, cant still swamp trump is still trump, and he can keep tweeting away. But even zero point five would not have made too much difference. We are seeing indications that the European Central bank is leaning towards cuts and the bank of england is in a unique and difficult position, even if it has fears about Economic Growth in the uk, with a currency already fairly weak, they cant really move Interest Rates down to quickly because the pound could then file even further. The uks in an especially difficult place. With the added uncertainty of brexit, which we have been sitting on for a couple of years now, and it never seems to go away. The pound has been dropping like a stone for the last couple of weeks especially, but it has fallen quite a bit. This has seen inflation. We have rising inflation in the United Kingdom and at the same time we have the pressure to cut rates. So where do they go . Im betting that outcome the election they will be actually raising the rates and going against the general trend. Interesting. Well, we will have you back on and analyse that when that happens. Professor Rajneesh Narula, thank you very much indeed. Lets get an update on that trade war that is so worrying the fed. Us and chinese negotiators have agreed to meet again in washington next month following talks in shanghai that both sides called constructive. Negotiations broke down in may after President Trump accused china of reneging on its commitments. Heres samira hussain. The two sides have been using some positive language when describing these particular trade talks and they are still talking. And they have set a new date for future trade talks, so that all is good, but the big, thorny issues still remain. How much of us Agricultural Products will china actually purchase . And then how much will china make or what kind of moves will china make to try and protect American Intellectual property . These have a lwa ys intellectual property . These have always been some of the biggest sticking points and those sticking points remain. Samira hussain there. Lets stay with us china tensions, because they are set to loom large over the asean meeting of South East Asian nations in bangkok. Us secretary of state mike pompeo has arrived in the last few hours he is due to meet with chinas top diplomat, councillor wang yi following outspoken criticism of chinese activity well speak to our correspondence he was there. Jonathan, potentially a rather tense gathering there . Potentially, of course. This is the gathering of the South East Asian nations, Foreign Ministers coming together to form asean, they are caught between these two superpowers and it is fascinating to watch a very geo political strategic game play out. President trump has taken ata play out. President trump has taken at a competitive stance competition stance against notjust china but also vietnam. People are uneasy about what the Us Engagement will be. Mike pompeos expected to try again, and theyve tried before, to put less on the bones of this. The us concept of an interpreted region, which they say is notjust about American Military power but also economic engagement. But the reality is, china is still the biggest investor, the biggest trading partner, and china has quite blata ntly trading partner, and china has quite blatantly said at this meeting it is its region. They are wanting there was not to get involved in the South China Sea were a number of South East Asian countries are in dispute with china over territorial claims. But in effect, china has simply expanded, built military bases and is more or less telling them they have to accept it. South east Asian Countries would like the americans to be more engaged, they want the americans to be here, but at this stage, it is unclear be here, but at this stage, it is u nclear exactly be here, but at this stage, it is unclear exactly what kind of real influence the americans could have. Johnathan head thank you. Now lets brief you on some other business stories. The uk has announced an extra £2. 1 billion 2. 5 billion to fund preparations for a no deal brexit. The money comes on top of more than 4 billion already allocated. It will be spent on more Border Force Officers and upgrades to transport infrastructure at ports as well as stockpiling medicines and a National Programme to help businesses. British airways is facing a possible summer of disruption after the airline lost its legal attempt to stop pilots from taking strike action, as part of a pay dispute. That is it for the business briefing, we will have the news briefing, we will have the news briefing injust a moment. Frontline nhs staff at one London Hospital have worked with developers to create a mobile app to identify patients at risk of acute kidney injury. Kidney damage accounts for 100 thousand deaths every year in the uk, as hugh pym reports. Whether its the pager of the fax machine, there is no shortage of Old Technology across the nhs, but where are we on the verge of a big leap forward . Are we on the verge of a big leap forward . This is the kidney function that we were talking about. Helgas a lead Nurse Specialist at londons three nurse hospital is able to show him the results of blood tests on her mobile. She is on the lookout for acute kidney injury, most the lookout for acute kidney injury, m ost ofte n the lookout for acute kidney injury, most often found in older patients. Warning signs from blood tests can ta ke warning signs from blood tests can take hours to come back, but mary will get an alert on her phone within 15 minutes or so, if there is any cause for concern. Healthcare is mobile in real time and this is the first device that has allowed me to see results in a real time way. Co nsulta nts see results in a real time way. Consultants say it saves money on treatment as well as helping patients. Potentially, it is lifesaving. We need to gather a lot more information about this technology and we need to look at it over a longer timeframe, but, technology and we need to look at it overa longertimeframe, but, its certainly the case that some patients are very unwell, information comes to the correct tea m information comes to the correct team very quickly and then we can put measures in place to try to make that patient safe and to try to reverse the impact on the kidney function. The collaboration was criticised by the Information Commission over the use of patient data. The Commission Said the hospital had now completed all the required actions. The hope is in the fast paced world of a modern hospital, giving nurses and doctors patient information at their fingertips can make a big difference in the way patients are diagnosed and treated. Hugh pym, bbc news. This is the briefing from bbc news. Im ben bland with the latest headlines. Media outlets in the United States are quoting intelligence sources saying hamza bin laden son of the late alqaeda leader, Osama Bin Laden is dead. Its not clear if the us played a role. Bin laden had made repeated calls for attacks on the us and other countries. Former us Vice President joe biden, comes under attack from nine other 2020 democratic hopefuls during a second televised debate. The candidates discussed healthcare, immigration and the economy. Whoever comes out on top eventually will take on donald trump for the us presidency next year. Now its time to look at the stories that are making the headlines in the media across the world. We begin with the new york times, and like us, they are covering the news that Osama Bin Ladens son has reportedly been killed. The paper says that the us had a role in the operation but that exact details of the strike were scarce, including when and where. Bloomberg is leading with the first Interest Rate cuts in the us since the financial crisis. This decision, they report, has led to a row between Federal Reserve chairman Jerome Powell and President Trump who tweeted that powell has let the country down. According to the guardian, the uk government is setting aside an extra £2 billion to prepare for a possible no deal brexit, with money being spent on stockpiling medicines, extra border officers and a Public Awareness campaign. Labour say its an appalling waste of money. The times leads with news of a summer of potential misery for travellers. British Airways Passengers are facing travel chaos at the height of the Summer Holidays after a legal bid to halt a hugely damaging pilots strike was rejected. The Daily Telegraph reports that the british army is launching a new division dedicated to fighting cyber crime the papers says it will specialise in Information Warfare and will react to fake news attacks on britain. And staying with the telegraph, the paper claims that shoppers are facing an array of 58 baffling recycling symbols, leading to widespread confusion. There is a test coming up so pay attention. With me is Lawrence Gosling editor in chief of what investment. We editor in chief of what investment. Have a straigh got we have a straight situation weve got this official is