the commercial real estate industry functions but it never reached its profitability, as you said there. its assets and liabilities of somewhere between $10 billion and $50 billion according to the bankruptcy report. we need to remember this was one of the most exciting projects on the horizon. it was worth $47 billion largely due to a chunk of investment from softbank but wall street were also excited, jp wall street were also excited, jp morgan chase was one of its first big investors. its co—founder adam newman projected tremendous growth and took on expensive leases in big cities like new york and london and even here in singapore. but itjust never quite reached its profitability. and like so many industries, the covid—19 pandemic really impacted because a lot of clients now who had memberships with this company have pulled out because many of their workers are now working from home and they have done away with the real estate industry. as we have been reading this morning, in its bankruptcy statement, we have heard from its ceo. it said the company, it is now time for "us to pull the future followed by aggressively addressing our legacy leases and dramatically improving our balance sheets stop" some lawyers say some of the reasons for the protection from bankruptcy is to get the expensive leases of their books. this will have a massive impact on the real estate industry in north america, for example. in new york they are seeing historic highs and commercial real estate unemployment — in terms of vacancies there. they were also offering competitive deals, too, wework. —— competitive deals to wework. this affects north america but not the rest of its members around the world. . ~' ,, of its members around the world. . ~ ., world. thank you for the update. _ world. thank you for the update, monica. - world. thank you for the update, monica. from i world. thank you for the l update, monica. from one breaking news story to another, we bring you another story justin. australia's central bank has chosen to raise the cost of borrowing by 25 basis points or a quarter of a percentage point, taking the cash rate to 4.35% from just 4.1%. this is the 13th rate hike since central banks around the world started hiking interest rates to dampen inflation last year. but before today the australian central bank had kept rates on hold at the past for monthly meetings. the sharemarket in australia as been slightly in the red in anticipation of the expected rate hike and we're seeing the australian dollar moving after the announcement was made. this comesjust half—an—hour the announcement was made. this comes just half—an—hour before the country's melbourne cup horse race that allegedly stops the nation begins. but i think the nation begins. but i think the traders it definitely isn't doing that the moment. stay with australia because its prime minister anthony albanese has been meeting chinese presence using thing in beijing. the two leaders have expressed a desire to work together and move on from recent tensions the two. the relationship soured during the pandemic, especially after australia's previous government called for an independent investigation into the origins of covid—19. beijing at the time slapped bands on several australian imports including wheat, corn, and barley. those restrictions were only lifted this year. here is the chinese leader. translation: a healthy and stable relationship . is in 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. well, simon baptist is the global chief economist at the eiu and said australia was never a good target for china to have tensions with. the chinese establishment has seen that. not only has the pressure not been yielding results but it has been a bit counter—productive and has pushed australia to do things like exhilarate the aukus agreement where it will get nuclear submarines and greater pressure against firms like huawei and rules on foreign investment. but the chinese economy is in a weak spot and so they could do with your problems and repairing the relationship with an important trading partners — and it is an important bilateral relationship, of course. china is a huge market for australia but australia is one of the major and largest suppliers of goods to china. so both sides will get some benefit economically from the relationship improving. does that mean that the future is all bright? australian businesses shouldn't have to worry about any of those tariffs and so on? absolutely not! the future's got many, many clouds in it and australian firms in china will have to be wary of being used as geopolitical footballs, as future spats happen — which, of course, they will, because the countries have a lot of deep disagreements over many issues — human rights, taiwan, trade, investment rules, and on the same token, chinese firms are not going to get an easy ride in australia, either. we're not going back to the heydays of the mid—2010s. now, epic games, the creator of the popular game fortnite, is accusing google of monopolistic behaviour. the game—maker says the search giant is stifling competition among app vendors on its android operating system and the two companies are facing each other in federal court in san francisco. here is erin delmore in new york. fortnite is a game free to play but epic makes a lot of money from it by selling virtual currency through its app. now, that's an in—app purchase, and if you are on an android phone, google makes a commission off of that, and that's true if you're making any enough purchases like downloading an audiobook or purchasing a subscription. in this lawsuit epic is claiming you the customer are paying higherfees for these things than you should be. epic sued apple over this issue a couple of years ago which largely resulted in an initial win for apple, although the supreme court might take a second look. this is slightly different, because it will be decided by a jury, instead ofjudge. epic is being countersued by google. this is not the only anti—trust case google is facing right now. it's in a legal battle with thejustice department over its search engine dominance. that case is one of many we have seen in recent years on washington's efforts to rein in big tech. now, it has been called australia's great un— retirements as older people change their minds about quitting theirjobs and returning to the workforce. it is a combination of the rising cost of living, a shortage of workers as well as the growth of flexible employment, which has encouraged more people to come out of retirement. from sydney, phil mercer has more. after 45 years as a motor mechanic, james cowton needed a fresh start. he was wary and stressed. —— weary. he ended up swapping retirement for a new career as an artist. this is in one of my gallery spaces. i was coming up to retirement, and i was looking ahead at where i wanted to be. while my hands work, and my mind works, i would like to work to my last day, really. i don't want to stop. new ideas come every day, so it's not like i'm short of ideas. just short of time. you hear a lot of stories, people sit down at retirement and they just sit there and watch the tv or whatever, and it doesn't take long, a couple of years, and they start sliding. about a third of newjobs in australia have been taken by the over—55s, who are rejoining the workforce. many miss the social connections and the sense of purpose that ajob can bring. others need the money. cost—of—living pressures might be biting, and for some, they also want the meaning that work provides. ageism is still systemic. employers should be recognising that these older workers are an opportunity and an asset, particularly when they are facing problems finding skilled labourer. —— labour. this is an untapped resource. many businesses in australia can't find enough staff but, as the population ages, the economic influence of older people in the workplace is increasing. about a fifth of all workers are now aged over 55. job flexibility has been a key factor. we have to remember and accept retirement — it's not gardening, golfing and grandpa renting for everyone. we really need to start thinking for the older worker. what does work actually look like, and what can it mean for them? can it be different from that traditional mould of full or part—time work? could there be a capacity for them to mentor others in the workplace? could it be a volunteer capacity? a lot of these lamps, they tell a storx — australia's great un—retirement is gathering steam. for the former sydney mechanicjames cowton, his custom—made lighting, with its industrial flavour, is illuminating a brighterfuture. it's a good light, you know? it is functional art. we it's a good light, you know? it is functional art.— is functional art. we brought ou a is functional art. we brought you a lot _ is functional art. we brought you a lot of _ is functional art. we brought you a lot of breaking - is functional art. we brought you a lot of breaking news i you a lot of breaking news story this hour, the collapse of wework, go to our website for the latest. that is it for the programme, though. thank you for watching. voice-over: bbc news, - bringing you different stories from across the uk. there's a new tea craze in london. this is chai, india's most beloved tea. chai is made by brewing black tea and adding different spices, sugar, and milk. in india, chai is a way of life. it's the drink for every occasion — morning, afternoon or night. this one street in walthamstow has five chai shops and four of them opened in the last year alone. we've got 4 million customers coming every day. it's like costa or starbucks for them. mainly, they are asian people, originating from india, pakistan or bangladesh. in the recent couple of years, we've seen a surge in other people as well. we've seen british people coming in, people from all ethnicities. as manyjoin the trend, only time will tell if london's love affair with chai will be here to stay. voice-over: for more - stories from across the uk, head to the bbc news website. hey, i'm stephen with the catch up. tonight, bonfire night clashes in scotland, the search for luis diaz's dad, and some spectacular skies. but first, have you ever bought a top or a dress on boohoo and wondered how it's so cheap? well, a bbc investigation has found the company is breaking its promises to make clothes fairly and ethically. we sent an undercover reporter to boohoo's head offices in manchester. she found the staff are under pressure to drive down the price paid by suppliers, even after deals had been done. one colleague admitted lying to try and get clothes made at a cheaper price. boohoo says it's invested significant resources into driving positive change across the business. you can watch the full panorama investigation on the bbc iplayer now. it's called boohoo's broken promises. some other stories now, and eight police officers have been injured after violence on bonfire night in scotland. this was niddrie in edinburgh last night. more than 50 young people throwing bricks, fireworks and petrol bombs at officers. police believe the clashes were planned. and an update on liverpool forward luis diaz's dad. the gunmen who kidnapped him in colombia over a week ago say they plan to release him soon, once local officials meet their demands. diaz revealed a t—shirt saying "freedom for papa" after he scored for liverpool against luton yesterday. and time to leave you with ten seconds of the northern lights, because yeah, this isn't a filter — these are the stunning pictures from across the uk on sunday night, as the lights put on a pretty special show. looks amazing, doesn't it? you're all caught up. have a good night. hello and welcome to sportsday. i'm gavin ramjaun. controversy in delhi — angelo mathews becomes the first international cricketer timed out, his sri lanka side beaten by bangladesh. chelsea beat spurs 4—1 at the tottenham hotspur stadium but that's only half the story, in a thrilling premier league london derby. and a boost for manchester city, as erling haaland's back in training ahead of their champions league game, following an injury at the weekend. hello there, and welcome along to sportsday. history was made at the cricket world cup, in bangladesh's three—wicket victory over sri lanka, but for controversial reasons. angelo mathews became the first international cricketer to be timed out, afterfailing to get himself in a position to face his first ball for sri lanka. bangladesh insisted it was a violation, which left the former sri lanka captainfuming. their hopes of reaching the semi—finals now over. patrick geary was watching. a murky delhi. the arunjaitley stadium sits in the middle of a problem. this week india's capital has been the most polluted city in the world. school's off, building work has stopped, but the cricket goes on. the world health organization rates the conditions in delhi as very unhealthy. both bangladesh and sri lanka have missed training sessions in recent days. both have questioned the safety of the match. when they did train, bangladesh wore masks and took precautions. doctors keep a close eye on players. some players did not turn up a practice because they are asthmatic. so they stayed indoors. even for practice, we are very conscious, we train what we have to train and they go back into the dressing room. the international cricket council, who organised the tournament, said the ground has been passed as safe by independent experts. ferns, sprinklers and our purifiers were ferns, sprinklers and our purifiers were used ferns, sprinklers and our purifiers were used to ferns, sprinklers and our purifiers were used to improve conditions. so play began and sri lanka began hazily.