The value of imports also fell by more than expected. Down 12. 4 onjuly a year ago, but that partly reflects a fall in the price of commodities such as crude oil. The figures will concern chinas government who are grappling with economic growth. The quarterly Growth Figure was just 0. 8 in the april tojune period as the country continued its post covid recovery. And last month chinas struggles were cited as a key concern for the Global Economy when the International Monetary fund updated its Global Growth forecast for this year to 3 . David woo is a former imf economist and wall street strategist, hejoins me now from tel aviv. Its a grim picture for china, isnt it . The third consecutive month of decline. Whats going wrong for them . ,. , decline. Whats going wrong for them . ,. ,. ,. , them . Some people are going to say its ust them . Some people are going to say its just basically them . Some people are going to say itsjust basically a them . Some people are going to say itsjust basically a reflection them . Some people are going to say itsjust basically a reflection of its just basically a reflection of the current Global Manufacturing slump but i suspect theres a lot more going on. I think the impact of the reassuring manufacturing back in the reassuring manufacturing back in the us, in europe. The fact is that while chinese exports are down, mexican exports are up. Indonesian exports are up. I suspect china is housing more than the relocation of supply chain and beijing would like to admit and i suspect also that many people in washington or poppy seed todays numbers is a reason for celebration. In seed todays numbers is a reason for celebration celebration. In china with imports down as well. Celebration. In china with imports down as well, what celebration. In china with imports down as well, what does celebration. In china with imports down as well, what does it celebration. In china with imports down as well, what does it do . I celebration. In china with imports l down as well, what does it do . This is hurtin down as well, what does it do . Ti 3 is hurting countries that are very dependent on their export to china. That is japan, south korea. Lets not forget, china is germanys largest Export Destination and all these countries are under pressure to reduce the trade relationship with china. This is clearly a problem but i think this number today highlights the need for china today highlights the need for china to reduce its dependency on exports, even more quickly. This means that they will have no choice but to undertake real Economic Reforms and regulation to, something that they have been reluctant to do. I think finally perhaps, the reformers basically have a chance to push through some of the agenda they havent been able to. The . Through some of the agenda they havent been able to. They havent enacted any havent been able to. They havent enacted any major havent been able to. They havent enacted any major stimulus havent been able to. They havent enacted any major stimulus since l enacted any major stimulus since covid. Its really struggling internally. Also in the property sector, arent they . I internally. Also in the property sector, arent they . Internally. Also in the property sector, arent they . I think there is a difference sector, arent they . I think there is a difference between sector, arent they . I think there is a difference between stimulus| sector, arent they . I think there is a difference between stimulus and reform. They havent done a stimulus because stimulus havent been working. China is now living in more debt then eat the us and europe. That is the result of over stimulus in the last ten years. They dont want to give out more loans. What they want to do now is basically open up the economy for competition, trying to level the Playing Field to unleash the private entrepreneurship. This is some good news out of todays numbers. If you look at chinese car exports, they hit 437,000 units last month. This represented more than a 50 increase in a year ago. China is now emerging as a leader of electric vehicles. What were seeing is very strong overseas demand for dependable but affordable ev is from china. The only question now is what the us is going to do next to stop china export of tvs. Going to do next to stop china exaort of tvs going to do next to stop china exortoftvs. , ~ ,. Export of tvs. Thank you very much for oininu export of tvs. Thank you very much forjoining us lets turn to italy now where the countrys banks have been hit by a 40 windfall tax on their profits for this year. Its led to big falls in the share price of the likes of Intesa Sanpaolo and unicredit. The government says that collectively the banks have been making billions in extra profits as Interest Rates have risen in the battle against inflation. It could raise around 3 billion for the government which it says it will use the money to help those who are struggling with the cost of living crisis. Lets speak to our Business Editor simonjack. Tell us why they are doing this. One will have . �. ,. , tell us why they are doing this. One will have . �. ~. , tell us why they are doing this. One will have . 1, ~. , tell us why they are doing this. One will have . ~. , , will have . Banking at its root is basic business. Will have . Banking at its root is basic business. Banks will have . Banking at its root is basic business. Banks make will have . Banking at its root is basic business. Banks make money on the difference in what they charge their borrowers and what they pay their borrowers and what they pay their savers. That is called the net interest margin. As Interest Rates have risen around the world in the battle against inflation, there has been a lot of countries who have said that banks have been quicker to charge more to their borrowers than they have to pay more to their savers so that margin has increased. We have seen big increases across europe and the us of bank profits. So italy has taken the move, a surprise move, which is why you saw some those big share price falls in italian banks, to attack some of that excess profit. They will use that excess profit. They will use that to fund the cost of living crisis. They are not the first country to do this. Spain and hungary have done this but it was a bit of a surprise, which is why you saw those share prices fall. For their part, the banks would say they havent made much money from this the last decade or so. Interest rates have been close to zero so there have been almost no margin. But, it is a popular move in many countries and there are calls in other countries to do that. They talked about it for and we thought it had gone cold and then they papped it had gone cold and then they popped it injust it had gone cold and then they popped it in just before the Italian Government goes on their summer recess. ~ government goes on their summer recess. ~ ,. , government goes on their summer recess. , ~ ,. ,. ,. , government goes on their summer recess. , ~. ,. ,. , are we losing our appetite for Meat Alternatives . Thats the worry for beyond meat, as the leading maker of plant based burgers and sausages says its seen a 30 fall in sales in the april tojune period compared to a year ago. The New York Stock Exchange has just opened and beyond meat� s shares are down about i7 . Lets get more on this now. A Big Juicy Steak is back on the menu . I remember covering it when Beyond Meat First came to the market and its share price popped on the first day of trading. And there was a lot of excitement around the idea that he was a product that not only was great for vegans but also for meat eaters who perhaps wanted to do their bit to try and reduce the emissions related to the production of meat and switch to something that was plant based. Now you fast forward a couple of years and here is this company that is reporting a 30 drop in sales. A third of their sales has fallen. So there is concern, as it is unique to this company or does it reflect a bigger trend . Are we seeing peoples appetites change . If you listen to what the ceo said, he talked about the fact that you have high inflation which has meant that people have cut back. That is some of the reason they have switched. In some cases, if you have got a limited budget, people are choosing meat rather than the plant based alternative but there is another thing at play here and that is perception. There is a sense that perhaps the Health Benefit of these plant based alternatives are not so great because they contain high levels of saturated fat but they also contain very elevated levels of sodium. And that also i think has turned people off. And then there is a question that may be some people just arent interested. Perhaps we have seen the last sort of growth in a sector that really has been exploding. If you look at other areas, like plant based Dairy Products and milks, they are still doing very well. So this does seem very specific to the alternative meat section. Very specific to the alternative meat section. �. ,. , ~. , meat section. Another story i know oure meat section. Another story i know youre keeping meat section. Another story i know youre keeping your meat section. Another story i know youre keeping your eye meat section. Another story i know youre keeping your eye on. Meat section. Another story i know youre keeping your eye on. 11 meat section. Another story i know youre keeping your eye on. 11 wall| youre keeping your eye on. 11 wall st firms are paying fines of nearly 300 million between them because of poor Record Keeping. What is that about . We poor recordkeeping. What is that about . ~. , poor recordkeeping. What is that about . ~. , poor recordkeeping. What is that about . ,. , poor recordkeeping. What is that about . , ,. , about . We have all seen the rise of thins like about . We have all seen the rise of things like whatsapp about . We have all seen the rise of things like whatsapp or about . We have all seen the rise of things like whatsapp or other things like whatsapp or other messaging systems, whether it eye message, increasingly that is creeping into the workplace. That is opening up employs the legal liability. Part of it is specific to the industry. It is governed by the Security Exchange act from 1934, which governs Record Keeping for the industry and so what are these 11 banks have been have had to pay the penalty for exact their employees were engaged it worked out why there were significant information shared on these Messaging Apps that were not kept as records because by their nature, they are more private and the employers dont necessarily have sight of that. I think it goes to the bigger question, obviously there is legaljeopardy here for these firms that it raise a broader question for employers and for employees about how we use these apps in the workplace and to discuss our work. ,. , apps in the workplace and to discuss our work. , ~ ,. , apps in the workplace and to discuss our work. , ~ ,. One of the worlds biggest Computer Chip Makers says its going to open its First Factory in europe. Taiwans tsmc says its board has approved plans for a 3. 8 billion facility in germany. The company said it had strong support from the germany government and the eu both of which have been pouring money into Computer Chips so that they become less reliant on china for supplies. Tsmc� s invesment in germany follows a similar announcement by us rival intel a few weeks ago. The Video Conferencing firm zoom has updated its Terms Of Service because of concerns that it was training its Artificial Intelligence models on customer calls. In a blog post the firm stressed that audio, video and chats were not used for al without consent. The video calling app acted after users noticed changes to the firms Terms Of Service in march which they worried enabled ai training. Zoom launched new ai powered features injune, one of which lets clients summarise meetings without having to record an entire session. Publishing giant Simon Schuster is to be sold to a private equity giant for 1. 6 billion in cash. The deal with investor kkr marks the likely end of a years long saga for owner paramount global, which had been looking for a buyer for the book Company Since 2020. Competition concerns had scuppered a previous deal, which valued the firm at more than 2 billion. This meeting injuly was supposed to be an opportunity for Birmingham City council to tell residents about their plans for a £2 billion regeneration of the area, ladywood. But it descended into farce as hundreds were locked outside. The residents feel left in the dark about the plans, especially the fact that the council has sanctioned the use of compulsory purchase orders, given the powers to force people out. I want something for my family and friends and children thats going to grow up. Where are you going to stick them . Are they going to be just pushed away and forgot . Birmingham University Lecturer laura moved to the area a few years ago. Shesjoined a campaign to give residents a voice. Its over 2,000 people affected by this. And theyjust dont was going to happen next. Its not as if the council has sent us letters, saying that our homes are at risk of a compulsory purchase order. Instead, we have had to find out from the news. Birmingham city council say area is deprived and will benefit in the long run. Its a long term programme. A 20 Year Programme for an area that most needs it. So no one is going to be turfed out of the house. There will be an offer made at some point. Hello from the bbc sport centre. Colombia are through to the quarter finals of the womens world cup for the first time. They beat jamaica 1 0 and will now face england on saturday. Catalina usmes goal in the second half in melbourne was enough to set up a clash with the european champions. They become just the second South American nation to ever reach the quarterfinals of the world cup, brazil were the first. Forjamaica though, their impressive world cup comes to an end. For us, why are coming in with no games. Ifeel very happy for us, why are coming in with no games. I feel very happy for the players that they could perform at this level without getting adequate games to play so i am very pleased with them and they gave it everything tonight. They should be proud of themselves and i am very