summit in san francisco. in their first face to face talks in more than a year, they are expected to discuss the ongoing trade row between the two countries, as well as washington s measures to restrict beijing s access to advanced computer chips. the meeting comes as china s once roaring economy struggles to recover from the the impact of the pandemic. earlier, i spoke to the executive director of the asian trade centre in singapore, deborah elms. she told me this conversation is an important first step. well, i think the most important part is that they ve had a meeting. i mean, that sounds pretty modest, but after a lot of disruption through the trump years and then through the pandemic and then through the post pandemic period, just having a conversation between the two leaders is critical to helping stabilise this rocky relationship. we talk a lot about the conflicts and economic differences, but how has this impacted customers and businesses? has there been much of an i
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 donations to their campaigns. he also adopted the mantle of a responsible leader in an industry rife with misconduct. but it turns out the fortune, the business, the image were built on a lie. the great success story was, in fact, a great fraud. bankman fried now faces decades in prison. during four weeks of testimony, prosecutors told jurors that the 31 year old bankman fried appare
shareholders are in favour. welcome to business today. i m sally bundock. we start in the us where the cost of borrowing will be staying higher for a while longer. the us federal reserve left its key interest rate unchanged on wednesday at its highest in more than two decades and signalled it only expects to make one cut this year. the fed though is predicting four more cuts in 2025. the decision came just hours after some encouraging news on its battle to control inflation. america s official consumer price index showed prices rising at an annual rate of 3.3% in may. that was down 0.1% on april s rate and was lower than expected. but it s still way above the fed s inflation target of 2%. erin delmore in new york has all the details. economic datasets can feel abundant, these are two big deal events. we ve only seen them happen on the same day seven times in the last decade. to start, the consumer price index. that s the key inflation gauge that held good news wednesday morni
Territory. We will have a look at the markets later. And piggy backing a mobile network. Well be looking at the growing trend of Virtual Network operators and ask whos winning the consumer or the company . And as facebook earnings surge 71 and its number of friends swell to over 2 billion, today we want to know are you a facebook Friend Or Foe and why . Let us know. Just use the hashtag bbcbizlive. I have just sent to a Friend Request, i hope it will be accept it hello and welcome to Business Live. We start in Silicon Valley where it seems there is no stopping the worlds biggest social network. Facebook has seen another huge jump in profits as Advertising Revenues keep on rising lets show you just how big. In the three months to the end ofjune, facebook made a net profit of 3. 89 billion. Thats a jump of 71 on the same period last year and better than wall street was expecting. Injune, the number of active monthly users crossed the two billion mark. That means more than one in every fo
What hard landing . China reveals its economy is growing nicely, so were we worried about nothing . We tell you what the experts are saying now about the worlds second biggest economy. Chocolate wars. Cadbury grapples with a nationwide backlash in new zealand, as it prepares to move its factory there to australia. Welcome to World Business report, im sally bundock. Also in the programme lloyds is poised to set up a European Base in germany. Details in a moment. But first so what has all the fuss been about . The latest numbers from china show its economy has grown by 6. 9 in the first three months of this year. That is better than most were predicting, and slightly ahead of the governments own target of. 5 growth. So do we need to be concerned anymore about the state of the worlds second biggest economy . Well, if we take a look at last year, it grew by 6. 7 . That was its slowest pace in 26 years. And last month, premier li keqiang said the government was cutting its Economic Growth t