Picture in germany and france. Claim of their implications. Francis of their implications. Francis female coppola joins us. Janet yellen says this is arbitrary, is it . I yellen says this is arbitrary, is it . 4 yellen says this is arbitrary, is it . ~. , yellen says this is arbitrary, is it . 4. , yellen says this is arbitrary, is it . ~. , , yellen says this is arbitrary, is it . 4. , ,. , it . I think what she is oining us is showing it . I think what she is oining us is showing a h it . I think what she is joining us is showing a deterioration it . I think what she is joining us is showing a deterioration in it . I think what she is joining us l is showing a deterioration in fiscal governance and asked two decades, so this isnt about what has happened on her watch, its work were also about repeated stand offs on the debt ceiling and short termism in fiscal Spending Plans going back a long time. find fiscal Spending Plans going back a loni time. � , fiscal Spending Plans going back a loni time. , fiscal Spending Plans going back a loni time. � ,. , long time. And ust remind us what this change long time. And ust remind us what this change is. Long time. And just remind us what this change is, if long time. And just remind us what this change is, if anything, long time. And just remind us what this change is, if anything, what. This change is, if anything, what does a Downgrade Meaning . I this change is, if anything, what does a Downgrade Meaning . I dont think it will mean does a Downgrade Meaning . I dont think it will mean very does a Downgrade Meaning . I dont think it will mean very much does a Downgrade Meaning . I dont i think it will mean very much bumping back there will be a short term reaction in the markets and then they will think, actually, its still investment grade, its not a big deal really and no one is about to stop stop using us treasuries or dump the dollar because of it. Thinks or comes in and everyone go back to using It Treasuries as they always have done. I back to using It Treasuries as they always have done. Always have done. I suppose you miiht always have done. I suppose you mi. Ht sa always have done. I suppose you might say its always have done. I suppose you might say its more always have done. I suppose you| might say its more embarrassing than damaging that the Worlds Largest economy finds itself in this position. But also know great surprise given all the negotiations over the Debt Ceiling Debate . I personally am not terribly surprised and i do think it is important as a signal, even if the effect on markets longer term is that everyone goes, this does not matter, i think its important signal to america that it needs to get itself more fiscally in order and to particularly stop this stand of between the republicans and democrats using the debt ceiling as a weapon. Democrats using the debt ceiling as a weaon. H democrats using the debt ceiling as aweaon. , � , a weapon. Thats the problem, it has become more a weapon. Thats the problem, it has become more about a weapon. Thats the problem, it has become more about politics a weapon. Thats the problem, it has become more about politics than become more about politics than economics. Do you think this changes anything, do you think the lawmakers and a politician there sit down and say, get our act together . We are approaching election your, feels like anything but that will happen. I dont think it will change anything at all in the american political system certainly until the next election it went depending on what happens there may be some thought about the longer term of the sustainability of the american debt profile and the political influence on spending but i dont think that will happen until the next election. Thank you for being with us, francis female coppola. Its a busy time for Earnings News and among those telling us how much money theyre making is starbucks. The worlds biggest coffee chain says it made revenues of 9. 2 billion in the third quarter. That is up 12 on the year before and was helped in part by a Consumer Recovery in china and normalizing work from Office Trends in the united states. Still, starbucks shares fell on the news. Our north America Business correspondent Michelle Fleury has more from new york. Americans love of lattes and iced coffee helped starbucks through the worst of the post pandemic years but with high inflation in the us, a cup of coffee is now 5 on average the big question for investors going into this Earnings Season was would consumers still spend money on elaborate coffees . The answer was mixed. Sales in North America grew 7 even after the chain raised prices. That figure was below wall streets forecast. Customer traffic only increased by 1 . Most of the gains came from existing customers spending more money. Sales in china, its second biggest market, rose sharply. Same store sales increased a whopping 46 from a year ago. Starbucks remains a favourite brand among chinese consumers, the company benefiting from a rebound after a strict covid 19 restrictions were lifted. But the coffee chain said that Wage Increases and investment in its cafes dragged down its overall profits. Starbucks ceo laxman narasimhan, who took over from his predecessor Howard Shultz in march, hailed the progress the company was making. He still faces lots of challenges, though, including the companys response to union organising. At michelle with the latest on starbucks from new york. From treats shaped like Designer Bags to edible versions of your favourite cartoon character, weve been inside a willy wonka style biscuit factory for the latest episode of our ceo secrets series. What is amazing about biscuits is that theyre a canvas, i think of them as a blank canvas on which you can create any beautiful design. They are artists and i think a bit of design business. My secret of success is to remember to put a Marketing Lens on everything whether that be hiring people, designing products, or even raising money. I think that what sometimes happens is that people get so focussed on designing a product, creating a beautiful website that the Marketing Tends to get bolted on at the end when its kind of too late. Its really sad when great products dont find their markets, because theyre just not sufficiently discoverable. I was sort of writing the Press Release in my head while i was designing the product and it was definitely pr that really launched us and made it a brand that people were talking about. Business is a hustle really, you have to be able to be flexible, you have to be be able to not be sort of floored when the plan has to change. Sometimes when the plan has to change its quite a good because you know, we learn, you move on. You can watch all the instruments of that series on our website. Staying with economic growth, but this time further south, in brazil, where its central bank is expected to cut Interest Rates for the first time in three years today. Economists are expecting a small cut of 25 basis points from its current high of 13. 75 . President lula himself has called on the central bank to cut Interest Rates as inflation eased. But to what extent will a small cut stimulate latin americas largest economy . Were joined by leandro vilain, partner at oliver wyman brazil. Thank you for being with us. Talk to me about that context of inflation, inflation starting to ease, giving the central bank more Breathing Room . , g, g, room . Indeedy. The inflation here in brazil started room . Indeedy. The inflation here in brazil started to room . Indeedy. The inflation here in brazil started to increase room . Indeedy. The inflation here in brazil started to increase last room . Indeedy. The inflation here in brazil started to increase last year i brazil started to increase last year and brazil was one of the first countries in the world that started to control inflation. In the last three months we are noticing inflation reduction. Inflation reduction. With information inflation reduction. With Information On inflation reduction. With Information On its inflation reduction. With Information On its way i inflation reduction. With Information On its way down, inflation reduction. With Information On its way down, that gives the central bank a little more room to manoeuvre. What are you expecting in terms of a rate cut . It seems such is running quite contrary to what we are seeing a lot of other countries . S,. To what we are seeing a lot of other countries . ,. G g, countries . Today the central bank will have the countries . Today the central bank will have the monetary countries . Today the central bank will have the Monetary Policy will have the Monetary Policy Meeting Committee today and probably the markets are expecting a reduction. Howeverwe the markets are expecting a reduction. However we will not be surprised if this cut would achieve 0. 5 , which are significant in terms of the brazilian economy. The new trend of Interest Rates reduction. Given that inflation is down from about 12 to the current rate of around 3 , some may ask why the central bank cannot be more aggressive in its rate cutting it . What is your assessment of why they may not go further . It is what is your assessment of why they may not go further . May not go further . It is important to internalise may not go further . It is important to internalise the may not go further . It is important to internalise the composition may not go further . It is important to internalise the composition of i to internalise the composition of the inflation. The average over the last 12 months is 3. 19 , however, if you look down on the disaggregated blocks, you notice some areas where inflation is too resilient and in some areas that it is very important to Pay Attention to are the Service Inflation and what we call the Core Inflation and what we call the Core Inflation when we remove some similarity affects from the average index. So in these two areas specifically, service and Core Inflation, in the first part of 2023 we achieved around 7 but now its close to 5. 5, which is giving you some room to this committee to reduce the Interest Rates today. Thank you. Bae ba e syste ms bae systems says it is up beat bae systems says its upbeat about the year ahead as it upgrades guidance for the rest of 2023. Britains biggest Defence Company is forecasting annual Earnings Per Share will grow 10 to 12 , as governments spend more on Military Equipment Due to the uncertain geopolitical environment. Bae� s half year Operating Profits jumped 20 to just over 1. 5 billion. Us regulators are investigating around 280,000 new tesla model 3 and model y vehicles over reports the cars lose their power steering. This is the first step of a formal investigation to determine if the issue poses an unreasonable safety risk. Tesla declined to comment on the investigation. Much more are all thousand race on the bbc website. We show to the european markets are just a little earlier on the back of that downgrade, the Banking Analyst explaining it doesnt change a huge amount, but the european markets are amount, but the european markets are a little concerned. No great surprise after all those negotiations to star the debt ceiling until we saw, just averting the debt crisis, what would be a first ever default in the united states. On twitter, im benthompsontv. When i take my sugar to tea when i take my sugar to tea all the boys are jealous of me so much feedback she should have this family are absolute potty about tea pots, they have spent two to £30,000 of the biggest collection in the uk, everything from politicians to pop culture and some wild and wacky creations. , g, creations. Signs and sign i saw the man making creations. Signs and sign i saw the man making this creations. Signs and sign i saw the man making this teapots creations. Signs and sign i saw the man making this teapots and creations. Signs and sign i saw the man making this teapots and i creations. Signs and sign i saw thei man making this teapots and i saw how hard it was and this one is. Diana, because diana was my favourite diana, because diana was my favourite person. Diana, because diana was my favourite person. People diana, because diana was myi favourite person. People say, diana, because diana was my favourite person. People say, why collect favourite person. 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You can ever have a 12 foot teapot in the garden. You can ever believe have a 12 foot teapot in the garden. You can ever believe the have a 12 foot teapot in the garden. You can ever believe the things you can ever believe the things people you can ever believe the things people can you can ever believe the things people can make. You can ever believe the things people can make. You can ever believe the things people can make. Fest museum contains more people can make. Fest museum contains more than people can make. Fest museum contains more than 8500 people can make. Fest museumi contains more than 8500 teapots people can make. Fest museum contains more than 8500 teapots and all started with these two here, given by a grandmother and aunt to sue. That started a passion between uso and keith becoming their lives and livelihoods. But now after a0 years, its time for the couple to put their feet up and share some pots of tea between themselves in peace. There looking for a buyer to take on the cathy and museum. Hello from the bbc sport centre. South africas prize for a first ever womens world cup wins a place in the last 16 of the turnabout is, and it was delivered in dramatic circumstances. In injury time winner gave them a 3 2 win over italy in wellington, at the expense of their opponents. After conceding an early penalty, to equalise through something of a calamitous italian own goal. They scored in the 67th minute to give south africa the lead. The pendulum swung back to italy but it turns decisively to south africa when south africa scored in the 93rd minute to secure second place in the group. 50 second place in the group. 5r emotional. Second place in the group. 5h emotional. Ive been in camp, pushing everyday. I chose to be with this team. Weve had a lot of criticism but thats football, its who have been the best. In the last two weeks i lost three family members, i could have gone home but i chose to stay with my girls because thats how much it means. I come back from a very brutal injury and for me to be here and to play for the country, to represent every single girl that wanted it to be here, to make history with the girls for south africa,