Limiting investment by American Companies in the chinese tech sector because of Serious National Security risks. It would require us firms to disclose investments in sensitive areas such as Artificial Intelligence and ban some investment altogether. Beijing has reacted angrily saying it is gravely concerned about the order. A spokesperson for the Chinese Embassy in washington says the curbs seriously undermine the interests of chinese and American Companies and investors. Republicans have said they do not go far enough. This is a new front in the tech war between two global superpowers, the restrictions prevent American Private equity and Venture Capital firms from investing in high tech sectors investing in high tech sectors in china, such as quantum computing, Artificial Intelligence and advanced semiconductors. The goal is to stop us capital in know how speeding up the development of technologies that could help china develop weapons for use against america in a military conflict. It would also require firms making investments in a broader range of sensitive Chinese Industries to report that activity, potentially laying the ground for more restrictions on investment down the road. The regulations are not expected to take place right away and there will be a public. So businesses can weigh in on the proposals. China is the worlds second august economy a vital market for American Companies and the concern expressed by some us executives may explain why this order expected in debris has not been released until now. A Senior Administration official described the move is targeted, saying this is a National Security action not an economic one. Adding the us is not decoupling our economies. So the move is likely to upset beijing with analysts wanting the us should be prepared for china to retaliate. China to retaliate. Lets speak to anne berry china to retaliate. Lets speak to anne berry who china to retaliate. Lets speak to anne berry who runs china to retaliate. Lets speak to anne berry who runs the i to anne berry who runs the Venture Capital firm threadneedle. She Venture Capitalfirm threadneedle. Shejoins us Venture Capitalfirm threadneedle. She joins us from new york. How significant would you describe the scale, the ambition of these measures by President Biden . President biden . Lets start with the scale President Biden . Lets start with the scale if President Biden . Lets start with the scale if you President Biden . Lets start with the scale if you look i President Biden . Lets start with the scale if you look at | with the scale if you look at the dollars, it is not especially significant, as you described, when we look at the restrictions in place on Venture Capital and private equity to invest in these very specific sectors we are talking of tens of billions of dollars a year. Of American Capital that can be replaced by other sources globally including by chinese investors domestically, from a scale perspective very limited impact, it is the philosophy and breath of retaliation which is the primary consideration. You su. Est primary consideration. You suggest only primary consideration. You suggest only people primary consideration. You suggest only people who could be missing out our american investors who could be cut off from opportunities in china . I dont think that is quite accurate, there is a bigger issue, the National Security piece of it. The lost opportunity for american investors in china needs to be offset by other considerations, there has been a decline overall in some areas of us vestment in china because of other concerns, for example limitations on access and the ipo market has been shut down by chinese or warranties. There are certain large domestic investors and founders who found they have had to minimise participation in their own companies because they have gone sideways with the chinese government, a much more complicated landscape if not just this piece of legislation or Executive Order which will cause ongoing complication. There are finer details yet to be confirmed about these restrictions, based about what you know so far and what you have seen in the past, is there a workaround for these things for any american investors determined to put their money into these kind of investments . There are typically if folks want to get creative they will do, there might be a way for american investors who decide to invest in other nations who will not be subject to these restrictions, to come back to National Security considerations there could be loopholes shut down over time, if there is a window, it could be limited. If there is a window, it could be limited. Not long since we saw janet be limited. Not long since we saw janet yellen be limited. Not long since we saw janet yellen head be limited. Not long since we saw janet yellen head to saw janet yellen head to beijing in a gesture of rapprochement between beijing and washington, that seems to be up in the air now what you make of the risk of chinese retaliation for these measures . Extremely real and if you look back beyond this administration to the prior one we saw there has been escalation in the past, this time it was a us china trade war, there was a tit for tat pattern, it will not be surprising if we saw that again, this is a very real attempt by the us and by the way this is bipartisan, not just republicans or democrats, both of them together saying there needs to be a Centralised Approach To Locking and technology that can Impact Security issues, this one is going to be an issue to stay. Thank you very much forjoining us today. Staying in the us and turning to the world � s biggest entertainment company, walt disney, its boss has told investors it is facing a challenging environment he said his plans are paying off. Disney lost 10 million streaming subscribers in the three months to the end of june, most in india were lost the rights to premier league cricket, but its Disney Plus Streaming Division is losing less money and previously. It plans to increase the prices of its Premium Service in the us as well as launching ad supported streaming for europe to boost audiences. The disney share price has been sliding for two years, the company is worth half what it was 2021, the question is if the Turnaround Plan is working. To try to answer that we talk to a principal and at inside intelligence. Hejoins me now from new york. As we all know the future and the prisoners streaming, looking into the detail of these results would you say disney is winning or losing at streaming . I you say disney is winning or losing at streaming . Losing at streaming . I think disney is losing at streaming . I think disney is trying losing at streaming . I think disney is trying very losing at streaming . I think disney is trying very hard i losing at streaming . I thinkj disney is trying very hard to make streaming work, it is too early to say for sure whether it is going to be able to really make that business profitable, and are saying it wants to do that by the end of 2020 four, but whether or not it achieves profitability, there is a bigger question. It is getting there by raising prices, getting there by slashing costs, when you think about disney as a company, and all the greatness it has achieved and its very long history, 100 years almost, it has done it by building, not by slashing, it has done it by investing in content, creating content, being really smart about marketing at. Now disney is in a very defensive position where they are trying to get to that point, where those quarterly losses are less and less, to the point where yes maybe they will be profitable but i dont see that as a strategy that will create long term value for the company. Something needs to happen beyond the steps that bob iger has taken so far. Subscribers will be concerned about price rises, we have seen lots of Streamers Notjust disney raising the prices and i wonder with a plethora of plethora of them out there it is notjust sewn up by netflix, should they be careful with price rises, it makes cancellation or tempting . They should be careful, cancellation or tempting . They should be careful, and cancellation or tempting . They should be careful, and yes, should be careful, and yes, cancellation is a risk but i think we have seen with all of the Price Increases that every other streaming service has implemented over the past year, two years even three years, there is a surprising amount of resilience in the customer base, ora resilience in the customer base, or a surprising amount of loyalty. When it was feared that people would just quit en masse, that did not happen, did not happen with netflix, it has not happen with netflix, it has not happened with disney, with some of the previous Price Increases. I will say what they have on tap for later this year, for basically 3 increases for both business disney plus and hulu, is quite steep compared to other streaming services that raised by 1 or 2. It is a risk but i think they have calculated and seen what happened with other streaming services, with survey data show people might quit but that does not quite turn out that does not quite turn out that way they have some runway to raise prices but it is a delicate balancing act so we will have to see how that plays out for them. Out for them. What about oldfashioned out for them. What about oldfashioned television, | Old Fashioned television, disney owns abc, espn, the sports broadcaster, how is that holding up . Mat sports broadcaster, how is that holding up . Sports broadcaster, how is that holding on . Holding up . Not very well, bog bob holding up . Not very well, bog lhob iger holding up . Not very well, bog bob iger made holding up . Not very well, bog bob iger made some holding up . Not very well, bog bob iger made some comments bob iger made some comments a couple of weeks ago how those were non core assets quite shocking when you think about how ingrained those networks are with the disney brand. So to go from those being the Profit Engines to now being almost ancillary to the business for almost a drag on the business, that is a very big transformation. It is not unique to disney, every company in the traditional media world is going through the same struggle. They are seeing those networks really lose viewership, and lose ad dollars, and there does not seem to be a way to turn that around. It is an industrywide phenomenon on and a trend that goes across all of society and Around The World. So, there is no answer that i think Bob Iger Canning be expected to provide for how to make those businesses work. So what he is trying to do in the case of espn, he seems very committed to the idea of turning it from a Cable Tv Network to a direct to Consumer Network and he has always done already done that to a larger extent. With abc that would be more difficult to do because it has a much wider range of content, it has entertainment news, morning talk shows, late night talk shows, there isjust morning talk shows, late night talk shows, there is just a morning talk shows, late night talk shows, there isjust a lot of bread and it is harder to turn that into a standalone streaming service. But, clearly, in their current form, those businesses are not doing much for disney other than dragging down their share of revenues and profits. Dragging down their share of revenues and profits. Thank you very much revenues and profits. Thank you very much for revenues and profits. Thank you very much forjoining revenues and profits. Thank you very much forjoining us revenues and profits. Thank you very much forjoining us from i very much forjoining us from inside intelligence. In the us we were talking about inflation, the mood of the day inflation, the mood of the day in the week ahead will be set later when we get Thejuly Update on price rises in the worlds biggest economy, coming in a few hours. High inflation has been pushing Central BanksAround The World to raise the cost of borrowing aggressively, the world � s widespread relief on Global Markets last month when figures showed Consumer Price inflation in the us had fallen to 3 june. Taking pressure of the Us Federal Reserve to raise Interest Rates much further. Will us inflation continue to fall . President biden will be hoping so he was opening a new Wind Turbine Plant in new mexico on wednesday when he hailed the success of what he calls biden onyx and creating jobs and getting prices under control. We have more to do but inflation is now at its lowest point for two years. In fact the lowest rate of inflation among the worlds major economies, no other major economy has inflation as low as we are. Its down from 9 to 3 . There is a lot more work to do on that. 3 . There is a lot more work to do on that do on that. We will talk to a Senior Analyst do on that. We will talk to a Senior Analyst now. Do on that. We will talk to a Senior Analyst now. We do on that. We will talk to a | Senior Analyst now. We were do on that. We will talk to a Senior Analyst now. We were all quite surprised with the last Inflation Figure for the us for june coming in at 3 , an unexpectedly big drop. What are you betting on fourjuly result later today . You betting on fourjuly result later today . The expectation is that will go later today . The expectation is that will go a later today . The expectation is that will go a little later today . The expectation is that will go a little bit that will go a little bit higher, not the end of the world, these things were never going to be linear, we would never see a move in One Direction all the time, the expectation of this favourite base of comparable is a vast it willjump base of comparable is a vast it will jump to base of comparable is a vast it willjump to 3. 3 . That is a really positive figure as he alluded to in to that video, a figure most countries would be envious of at this stage. The potential is we will see a drop below 3 and we have seen this for a few months where it has been better than what people expect, if you see an Inflation Number with a expect, if you see an Inflation Numberwith a 2. 8, expect, if you see an Inflation Number with a 2. 8, 2. 9, that is something that will be celebrated and could get investors really excited today. It could change. The path for the Us Federal Reserve, expectations are they will sit on their hands when it comes to the Interest Rate decision for august. Most now expecting another rate rise in september. What are your expectations . I dont think they will raise rates for september, i dont think today will have a massive impact on that unless we see something shocking. If we saw inflation rise to 3. 5 , or if we saw Core Inflation which is arguably more important, is promising at this point in time standing at 4. 8 , thatjump to five point one, 5. 2, that is something where we could see it grab the attention of the Federal Reserve because it is that sticky nation especially in the Services Industry where thatis in the Services Industry where that is highlighted. Thats the most important component of the report today even if the headline will steal the attention. I think they will not raise rates in september, i think they are done, they have done a lot of work, there is still a lot that needs to filter through to the economy and as you can see from the data we have seen already over the last few months they have made a lot of progress and there is potential for todays report to highlight further progress again. Gas prices surge on wednesday because of a gas prices surge on wednesday because of a Strike Gas Prices surge on wednesday because of a strike by Australian Energy workers could disrupt their exports of liquefied natural gas. At one point, gas was up by 40 on the day before settling at 28 higher. It is the biggest gains in the early weeks of the ukraine war. Shares in wework have slumped out of the Office Space Provider raised doubts about its ability to survive as about its ability to survive as a going concern. At the close of trading on wednesday shares that down by 38 to just 12 cents valuing the company at 200 million. They were valued as much as 47 billion and a Plan Share Sale in 2019 before concerns of heavy losses and lapses in court. Rome watered down its plans for a windfall tax. 0n down its plans for a windfall tax. On monday night the Italian Government passed a 1 off Italian Government passed a ioff 40 Italian Government passed a 1 off 40 tax on the profits that banks earn from higher Interest Rates. There was a shock move that saw shares plummet. It said proceeds would be used to help mortgage holders. The finance Ministry Said the tax would be capped at just 0. 1 of assets. Coming up, surf� s up. However surge in tourism is helping to turn the tide for price crisis hit should blank up. Throughout the world and across the uk, this is bbc news sri lanka. The weekly shop the long way around. No one will deliver here so the residence have to take this route every time they want to get from their car to their home. Want to get from their car to their home. Shopping for my nextdoor their home. Shopping for my nextdoor neighbour their home. Shopping for my nextdoor neighbour who their home. Shopping for my nextdoor neighbour who is l next door neighbour who is disabled. If i didnt do his shopping, he wouldnt have any stuff. ,. ,. , shopping, he wouldnt have any stuff. ,. ,. ,. , stuff. For two years now it has been like stuff. For two years now it has been like this. Stuff. For two years now it has been like this. The stuff. For two years now it has been like this. The bridge stuff. For two years now it has been like this. The bridge was| been like this. The bridge was closed in 2021 because of concerns that it might collapse under its own weight. Some repairs meant it could be reopened to pedestrians 18 months ago by the local council has no date for when things will be completely back to normal. � normal. All we get whenever we t to normal. All we get whenever we try to contact normal. All we get whenever we try to contact them normal. All we get whenever we try to contact them as normal. All we get whenever we try to contact them as a normal. All we get whenever we try to contact them as a fat try to contact them as a fat that they are monitoring the bridge. How long does it take to monitor a bridge . The council said to monitor a bridge . The council said it to monitor a bridge . The council said it had to monitor a bridge . The council said it had proved conflict and technically challenging. It said repairs were ongoing and thanked the residents for their patients. It said all the Emergency Services had been given the code to the gate. For more stories from across the uk, head to the bbc news website. You are alive with bbc news. Last week the uk government announced a £20 billion investment in Carbon Capture technology to help achieve target of net zero emissions by 2050. The Acorn Project in Northeast Scotland and the Viking Project have been chosen as locations for Carbon Capture usage and storage clusters. The idea is to remove Greenhouse Gas emissions from burning fossil fuels, Gas Emissions from burning fossilfuels, mitigating the Climate Impact of the oil and gas industry, the announcement has proved highly controversial. Donna lindsay is the head of environment and sustainability which is the uks sustainability which is the uks agency and she joins us now. Welcome to the programme and tell us a little bit about why Carbon Capture is controversial. It why Carbon Capture is controversial. Why Carbon Capture is controversial. It is very controversial controversial. It is very controversial because l controversial. It is very| controversial because it controversial. It is very controversial because it tends to be seen as Business As Usual for all oil and gas companies, and ultimately, are some problems. Number one is technology is very much in its infancy, it hasnt really been a bow evolved over the last couple of decades to the level we needed to be. People think we needed to be. People think we can carry on burning fossil fuels, and the challenges we need to do in storage not only from a technical Point Of View but a Solution Point of view and reduce our use of fossil fuels, and that is the challenge that we take more out of the ground when we need to reduce that and actually invest more in these technologies. What you make of this uk government initiative, how do you think a contrast to the approach by other governments in other parts of the world . It is interesting. The challenge i think we have is absolutely we need to invest in this technology. It is the right thing to do and this is a good place to do it. The costs are lower to do it there, we also are providing licenses for an extra 100 will and gas licenses across the north sea and we shouldnt be doing that. At the same time, we should. If we do that, we should say they can have a license if they only do Carbon Capture and storage. We really should be leaving the oil and gas in the ground now, and if we are going to get anywhere to meet the 2050 target, we have to do all these things at once. Things at once. When you look at the fires things at once. When you look at the fires in things at once. When you look at the fires in portugal things at once. When you look at the fires in portugal and at the fires in portugal and hawaii in the news today, do you ever wonder if it is too late and what difference Carbon Capture could make . It late and what difference Carbon Capture could make . Late and what difference Carbon Capture could make . It can make a big difference. Capture could make . It can make a big difference. I capture could make . It can make a big difference. Ithink capture could make . It can make a big difference. I think it capture could make . It can make a big difference. I think it is a big difference. I think it is not too late. We have amazing talent in this country and Around The World to solve this problem. It made commitment at a political level and we cannot let the lobbyists get away with Business As Usual with the oil and gas side. In terms of the technology, we need to invest in that, but we need to invest in that, but we need to invest in nature. Nature is ready and there and we have been working across the uk to understand how we can support nature based Carbon Capture. We have woodlands, we can really help move this and we have regenerative agriculture as well, it can make a big difference but we need to do all of it now to make the difference now. All of it now to make the difference now. Briefly, what art do difference now. Briefly, what part do you difference now. Briefly, what part do you see difference now. Briefly, what part do you see carbon difference now. Briefly, what i part do you see Carbon Capture playing . Doesnt mean we dont have to start burning emissions and other parts the world . Ida. And other parts the world . No, it doesnt and other parts the world . No, it doesnt work and other parts the world . No, it doesnt work like and other parts the world . Iirr, it doesnt work like that with the atmosphere. We have to make sure we work right across the globe and have those levels of commitment that enable people to grow their internal capabilities and their values. Donna, we have delivered there. Thank you forjoining us today. Finally to sri lanka, a country brought to its knees a year ago by its worst economic crisis in 75 years of independence. A 3 billion bailout from International Monetary fund has given the government financial breathing space. Now it is banking on a surge in tourism are one of the main sources of foreign currency reserve as visitors return to its idyllic beaches. We go to sri lankas Eastern Coast. The tide had begun to turn in sri lanka. The Pristine Beach is in aragon by are again buzzing with surfers waiting to catch the perfect wave aragum bay. 0n the Eastern Coast of sri lanka, the economic crisis coincided their main tourist season, hitting local businesses hard, and this Surfing Destination is still picking up the pieces. This Surfing Instructor is back to giving daily lessons to tourists, a respite from last year when the economic crisis forced him into fishing to support his family, and he says a full recovery is still distant. A full recovery is still distant. ,. , distant. The price change, we are struggling distant. The price change, we are struggling a distant. The price change, we are struggling a lot. Distant. The price change, we are struggling a lot. We distant. The price change, we are struggling a lot. We have| are struggling a lot. We have to put price up for the accommodation but still we pay quite a lot of money for the Electricity Bill and for other basic needs. Electricity bill and for other basic needs. ,. , basic needs. Crowded beaches and busy hotels basic needs. Crowded beaches and busy hotels are basic needs. Crowded beaches and busy hotels are promising j and busy hotels are promising signs for sri lanka, its biggest earner, Tourism Revenues are up 30 from last year. Revenues are up 3096 from last ear. ~. , revenues are up 3096 from last ear. ~. , revenues are up 3096 from last ear. ~. , ,. , year. When i came last year to aru~am year. When i came last year to arugam bay. Year. When i came last year to arugam bay, there year. When i came last year to arugam bay, there were year. When i came last year to arugam bay, there were a year. When i came last year to arugam bay, there were a fewj arugam bay, there were a few shops open, and there were almost no people. Now, the difference, it is amazing. So many new places opened up in the business is coming back and many tourists are coming back. It is a good atmosphere now. Some of the bigger players are more optimistic about navigating the recovery. The recovery so navigating the recovery. The recovery so far navigating the recovery. The recovery so far is navigating the recovery. Iie recovery so far is quite magicalfor recovery so far is quite magical for us. Recovery so far is quite magicalfor us. The emirate, qatar, singapore airlines, air india, these big carriers are coming back and they are increasing the frequency to the country, along with our national carrier. By, country, along with our national carrier. Country, along with our national carrier. A very high cost of growing national carrier. A very high cost of growing in national carrier. A very high cost of growing in a national carrier. A very high l cost of growing in a migration of the countrys he workers from chefs to housekeeping staff remains. I from chefs to housekeeping staff remains. Staff remains. I cant see a lot of new staff remains. I cant see a lot of new development i lot of new development happening, Construction Happening, Construction Happening with the cost of borrowing comes down. Most of our chefs are in australia, new zealand and canada. Our biggest losses were in the kitchen. Then we lost engineering staff, We Lost Financial staff. We lost financial staff. Many sa the We Lost Financial staff. Many say the crisis We Lost Financial staff. Many say the crisis has We Lost Financial staff. Many say the crisis has sent We Lost Financial staff. Many say the crisis has sent the l say the crisis has sent the country back by five years, leaving behind significant gaps which will take some time to be fit again. Markets before i go. A quick look at the picture in asia. A mixed bag as i mentioned earlier, the Inflation Data coming out of the us earlier today will set the mood for the rest of the day and for the rest of the day and for the rest of the week. Japans index doing well after its Inflation Rate fell. 0n doing well after its Inflation Rate fell. On wall street before the close last night, a seller for the crucial Inflation Data comes out. I will be back with the top stories for the rest of the world in a few minutes. Breakfast is next in the uk. Stay with us here on bbc news. Hello there. Heatwave conditions across the globe have been dominating Weather Headlines in recent weeks. And this week, we saw a return to heat across iberia. On wednesday afternoon in southern spain, we saw a high of 44 degrees, 111 fahrenheit. We are tapping into some of that warmth across the uk not as extreme. It was a pleasant day on wednesday. Thursday, it will be warmer still, with temperatures perhaps peaking at 27, possibly 28 degrees. Thats 82 fahrenheit. But widespread warmth is expected generally across the country, and thats because weve got High Pressure with us for another day. However, this frontal system is going to start to push in late on thursday. A beautiful start, lots of blue sky, lots of sunshine coming through. Little bit of cloud and mist and murk down to the southwest may linger first thing, a little more cloud into Northern Ireland and southern scotland as we go through the day. But on the whole, with light winds and a warm, muggy start, those temperatures will respond widely into the mid 20s, possibly, as i say, as high as 27 or 28 degrees. But that cold front is expected to arrive during thursday evening, pushing into Northern Ireland, and then it will really start to pep up as it moves its way across scotland. Itll be quite light and patchy through central and south eastern england. A band of cloud through the night, but the rain, the brighter colours denoting the intensity, will be sitting in Scotland First thing on friday morning. With the cloud, the wind and the rain and still that southerly breeze, its going to be a muggy, sticky start, really, to friday. Some of that rain will take its time to clear as well in scotland, clinging onto the Northern Isles with a stronger breeze here. But elsewhere, with a Light Southwesterly wind starting to pick up through the day, its a case of sunny spells and blustery showers, the showers few and far between. Most of us will continue to see sunshine and, again, some warmth, temperatures widely into the mid 20s. Now, as we move out of friday into the start of the weekend, we see a return to low pressure once again. Closest to the low, thats where were likely to see the wettest of the weather and the strongest of the winds once again. Its not going to be quite as severe as the weekends just past. And in fact, parts of england and wales should stay largely fine and dry, but a noticeable drop in the feel of the weather, with the risk of some showers the further north and west you are. Take care. Good morning. Welcome to breakfast with Naga Munchetty and rogerjohnson. 0ur headlines today. Anger and dismay for thousands staff at the Police Service of Northern Ireland, as the Senior Officers and politicians meet to discuss how their their names and workplaces were published online. An investigaton begins into the deaths of 41 migrants in the Mediterranean Sea after a boat capsized sailing from north africa. The night they drove old dixie down. When all the bells were ringing. Robbie robertson, guitarist and songwriter for the band, dies aged 80. Anthonyjoshua says boxing has a doping problem. Its after his original opponent for this saturday night, dillian whyte, had to withdraw after failing a voluntary drugs test. And after all that wet weather weve had, now many people are deciding to dodge the rain by booking a last minute holiday somewhere hot