And looks to push shares higher with a big money Share Buyback. Banking on big profits hsbc rakes billions of dollars and looks to push shares higher with a big money Share Buyback. And china cools the worlds second biggest Economy Saw Manufacturing growth slow last month, fuelling fears that chinese growth is on the slide. Welcome to World Business report. Im sally bundock. Also in the programme, we will show you a robot that can crack open your safe. First of all that silly when on the latest numbers coming from europes biggest bank, hsbc, reporting its earnings in the last 30 minutes. It made a pre tax profit of 5. 28 billion in the Second Quarter of this year. A from 4. 6 billion the previous time and analysts were expecting a high number but not as big as that. It announced a Share Buyback as many we predict in, looking at 2 billion worth. It looks to make the most of its huge cash pile. The move will effectively restrict the supply of hsbc shares in the marketplace of course and so should lead to the companys value rising. In the past 12 months the bankers had a good run, the stock price as you can see almost doubling in value. However this is partly because of the weakness of the pound which boosted the value of its earnings from outside the uk, which for hsbc is a substantial sum. With me to discuss this is chris wheeler, a banking analyst with atlantic equities. Hsbc more than delivering expectations were high but it has done better . These are good figures, putting things in perspective with hsbc, like all of the banks they are coming through restructuring and are used to be the World S Local Bank but not any more. They have had to restructure, shut down various areas and likea restructure, shut down various areas and like a lot of the banks also have regulatory issues, fines to pay, and Stuart Gulliver saw them through it, they were the first into the problems because they have a lot of sub prime debt for the first bank into the problems but equally one of the first to get out of those problems. The restructure is seen to be working but now they will see the handover and that is going to be in terms of Stuart Gulliver stepping down, they will find a replacement. A lot of questions about that because its getting a new chair man as well. At tuccu is coming into place to replace douglas went in 0ctober place to replace douglas went in october and with a lot of questions hanging over about who will be the chief executive, a lot of change at the top. Hsbc recruit from within so using people who have come through the system and worked through the whole structure, while mr tucker has a great reputation, he was at aia, he is seen as more of an outsider. It shows a change now ive actually how hsbc moves from Recovery Mode into continuing to develop into the next stage and it is good, the buybackis next stage and it is good, the buyback is better than we thought. 2 billion Share Buyback. Why would choose to do that . It shows that the bank says we have an amount of profit or available funds, we could use it for investment and what they are looking around the world and saying we dont necessarily want to spend it, or we saying we dont necessarily want to spend it, orwe and paid saying we dont necessarily want to spend it, or we and paid out as a dividend or buy those shares back in there for anybody who owns hsbc shares will actually find their overall share value will go up because the relief available. And the dividends coming in at 10 cents a share so its like win win. The dividends coming in at 10 cents a share so its like win win. It is, and hsbc traditionally have a lwa ys is, and hsbc traditionally have always been a good shareholder stock to have. In terms of always paying a regular dividend when they could, are regular dividend when they could, a re often regular dividend when they could, are often times when havent, but they make sure shareholders onside but there in mind, this is a british bank but of course it is a global bank, east effectively in hong kong, the clue is in the name, but it sees itself with the uk base in birmingham. 0f itself with the uk base in birmingham. Of course you have to look at global lease its a good reflection as to how the Global Economy is doing and recovering and if you look at the bigger pictures the globe, despite what President Trump likes to say about america, the Global Economy isnt to be that bad and hsbc reflects that. Thank you, justin. He will be back reviewing our stories in the papers. Lets talk about the last few days because apparently the world s best hackers have been gathering. And if you want to get kudos from the hacking elite, the best way to do that is with a daring on stage demo. And this year, one team took on a challenge it cracked open a leading brand safe using a cheap robot. 0ur north America Technology reporter dave lee has more. The rest of the 100 people in here all expecting this team to hack at safe. They are looking kind of nervous up safe. They are looking kind of nervous up there and will focus about a million combinations, 100 times 100 times 100, this produces that from 1 million down to about 1000 combinations. Doing a demo at def con is kind of stressful but we are excited. Applause cheering and applause . Im so excited that we got the safe open, it was one of the scariest things we have done. It works 0r some this robot will never go into someones home and open the safe, there are a lot more things they should be worried about but not a robot but yeah, this is a fundamentally in. Fun demonstration. Now lets look at the chinese economy. New saturday from the government suggest that the countrys Manufacturing Sector the backbone of its economy is slowing. Joining me now from our Asia Business hub in singapore is shara njit leyl. Nice to see you. Is it really bad news or are we talking a blip in july . What do you think . It seems to bea july . What do you think . It seems to be a blip really. As you say, it was the chinese manufacturing but also services, Purchasing Managers into this, they both slipped injuly, that they remained above the 50 point mark that separates growth from contraction and remarkably investors in this region are seeing it as investors in this region are seeing itasa investors in this region are seeing it as a positive sign because it actually lead to stocks reversing the lacklustre slump they have been in all morning after the news was out. The official purchasing in Death Metaphor Index is 1. 4 which was down in june, Death Metaphor Index is 1. 4 which was down injune, the data suggests over the World S Second largest economy will call the coming months as Borrowing Costs rise and regulators they are clamping down on lots of risky financing and this despite the fact that china posted much stronger than affected Economic Growth of 6. 9 in the first half and that was really thanks to a year Long Construction boom we saw robust exports, Retail Services as well, and all of that indicate that it isa well, and all of that indicate that it is a fairly mixed picture for china but markets here are seeing good things. Thank you. Good to see you. In other news Tech Giant Apple has come under criticism after it removed some software from its app store in china that allows users to get around tough restrictions on internet access. The change comes after the Chinese Government announced a crack down on Virtual Private Networks known as vpns. They are used to find ways around chinas filters and restrictions on access to certain websites within its borders. The british Finance Minister or chancel of the exchequer if you prefer Philip Hammond has suggested the uk will not cut taxes and regulations after brexit to try to undercut european rivals. The remarks in an interview with the french newspaper le monde contradicts what he said in an interview with the german newspaper earlier this year. Will talk about that in a bit more detail than we do review some of the stories in papers inafew review some of the stories in papers in a few minutes. Quickly to the markets. Japan is flat at the moment. Basically what its all about, many Commodity Prices are on the way up, particularly oil, so Mining Stocks are doing well and Energy Companies doing rather well. Thats how things ended last week in the united states. In a minute for the news review. Back in a minute. Hiv testing should be offered to patients when they register with a new gp in areas where there are high rates of infection, according to new research. More than 13,000 people are unaware that they have the condition and researchers from two london universities say screening is affordable and could save lives. 0ur health correspondent, jane dreaper, reports. Asimple a simple finger prick tests, but all thatis a simple finger prick tests, but all that is needed now to find out whether you have hiv. Gp surgeries in some parts of london are making this test more routine. This study says those efforts should be much more widespread. The researchers looked at surgeries were new patients are offered hiv test when they register. This led to a much higher rate of diagnosing the virus. Each test cost around £25. The authors say the benefits mean more screening is affordable. Many patients are diagnosed when they carry the virus without knowing it to having an hiv test in a surgery will allow you to have access to excellent treatment but then also prevent you from passing on the virus to someone else. Routine testing has previously been recommended by Public Health england to cities with high hiv rates. At investment in testing has fallen in some areas because of financial pressures on local authorities Public Health budgets. A charity has called on Healthcare Commission is to act on these latest findings. Jane draper, bbc news. Thousands of extra Mental Health workers are to be recruited by the nhs in england. The Health Secretaryjeremy Hunt said the aim is to treat an extra one Million People by 2021. The Royal College of nursing has questioned how so many staff can be hired and trained in such a short space of time. Coming up at 6am on breakfast, all the days news, business, and sport. The team will also have more from belgium, where british royals joined commemorations to mark 100 years since the start of the battle of passchendaele. This is bbc news. The latest headlines in venezuela, president maduro has condemned violent protests against a controversial election to choose a new parliament. The us called the reform a sham and promised Swift And Strong action. President putin confirms 755 Us Diplomatic personnel must stop workng in russia. Many will be expelled by september first. Real madrid star, cristiano ronaldo, faces court today accused of evading more than 14 Million Euros in tax. Ronaldo has defended himself saying his conscience is clear. Now it is time for our newspaper review. Whats Making Headlines Around The World . The lead in the times is the insistence by british chancellor, Philip Hammond, that the uk wont be turned into a tax haven after brexit. The article is on the back of an interview with the french newspaper, le monde, in which hammond says britain will not try to undercut its european rivals by cutting taxes and regulations. The remarks contradict what mr hammond said in an interview with a german newspaper earlier this year. The Financial Times reports that japans largest bank has chosen amsterdam for its Banking Headquarters as a result of uncertainty over brexit. Mufg currently employs more than 2,000 staff in london and a further 700 in other european cities. The guardian reports on the latest from venezuela following a so called sham election. It highlights comments from the Us Ambassador to the United Nations claiming the country is one step closer to a dictatorship. The New York Times looks at putin responding to us sanctions by ordering 755 of its diplomatic staff leave america, in what the paper describes as a move right from the cold war playbook. And in thejapan times, the focus is on china us relations in an article that says chinese president xijinping is betting donald trump wont make good on his threats of a Military Strike against north korea