a further rise in business investment. private consumption fell on the quarter as consumers struggle with rising living costs and falling real wages. how do you think investors are going to respond to this news? the japanese economy is performing quite well. i don't think it will be a big market reaction. simply because the indications for monetary policy are not clear—cut. the bank ofjapan is already quite optimistic about the gdp growth, and what really matters for monetary policy is how global inflation is. strong gdp growth, the margin, rising inflationary pressures... as we have seen in the past, it can turn around things injapan, so the wage growth really matters, how much it will ease household burden on the cost of living. in terms of the bank ofjapan, looking at whether they are actually going to raise interest rates after quite some time, what do you project? we time, what do you pro'ect? we don't time, what do you pro'ect? we don-t thinkfi time, what do you project? - don't think they will do so, simply because japan has been battling inflation for 25 years now. there are clear signs now that inflation is over but the bank of japan that inflation is over but the bank ofjapan will be cautious. then they sent virtuous cycle between wages and prices. they need to see further evidence. it's around i—2% injapan, whereas in some other major advanced economies, wage growth is five to 6%. it is still a large gap and we need to see further acceleration in wage growth forjapan to consider tightening policy.— growth forjapan to consider tightening policy. staying with ja an, the tightening policy. staying with japan, the government - tightening policy. staying with japan, the government is - japan, the government is encouraging large companies to have more women in boardrooms. it requires some firms to have a third of their directors filled by women by 2030. the asian country has lagged behind western nations on gender diversity. women madejust over 15% of the directors injapan last year, compared to 31% in the us and 40% in the uk. naomi is the chief executive of on board, which specialises in connecting female leaders to companies, and she said a change is under way injapan. comparing other countries, japan is very behind. but it is increasing. it's not only due to the government, but also japanese companies changing, due to pressure from investors. they are asking japanese companies to appoint more female directors. i want to point out two events which affected japanese companies. first, policy was changed in february... with no female directors, they vote against the appointment of the ceo. japanese institutional investors have similar voting policy. so nowjapanese company tried to appoint more female directors. also this year, in march, appointment of ceo of cannon, one of the biggest japanese companies, was almost denied after the annual shareholder meeting because there were no female board members. so nowjapanese companies are scared and they try to find female board members. try to find female board members-_ try to find female board members. �* , ., ., members. let's turn to india. soafina members. let's turn to india. soaring food _ members. let's turn to india. soaring food prices _ members. let's turn to india. soaring food prices are - members. let's turn to india. | soaring food prices are turning into a headache. for prime minister narendra modi's government. annual retail inflation rose to well over 7% inflation rose to well over 7% in july, the inflation rose to well over 7% injuly, the highest it has beenin injuly, the highest it has been in more than a year, putting pressure on the government to take action. our indian business correspondent has more from one bias. it is a sharp spike — has more from one bias. it is a sharp spike in _ has more from one bias. it is a sharp spike in three _ has more from one bias. it is a sharp spike in three fighters, l sharp spike in three fighters, particularly vegetables, driving up inflation in india. onions and tomatoes, even policy is getting dearer. —— a sharp spike in food prices. last week the reserve bank of india held the key lending rate steady but moved to stuck out excess liquidity of cash from the banking system. the central government has recently announced a number of proactive measures to cool down prices, such as releasing additional onion stocks to the market last week after banning the export of key varieties of rice and wheat. some relief from prices is expected as the new crop comes into the market. the risks from extreme weather and monsoon remain major risks to inflation. they are unable to cut interest rates, and the government faces a crucial election season in the summer of 2024, and will be watching the inflation scenario very carefully. the inflation scenario very carefully-— the inflation scenario very carefull. ,, ,, ,, carefully. the swiss bank ubs has agreed — carefully. the swiss bank ubs has agreed to _ carefully. the swiss bank ubs has agreed to pay _ carefully. the swiss bank ubs has agreed to pay $1.4 - carefully. the swiss bank ubs has agreed to pay $1.4 billion | has agreed to pay $1.4 billion to settle flawed claims in the united states, linked to the 2008 financial crisis. —— fraud claims. it is the last case of prosecutors investigating banks in the run—up to the crash. prosecutors said the bank lied about the quality of mortgages that were packaged and sold to investors. ubs did not admit or deny the claims. in a statement, it said it had already set aside money for the"legacy maka". celebrity creative directors are back in fashion. famous faces executive roles. we sent michelle fleury to speak to one of them and find out what is driving the new trend and are they qualified. idj new trend and are they qualified.— new trend and are they l qualified._ dj qualified. dj khaled... dj khaled, _ qualified. dj khaled... dj khaled, the _ qualified. dj khaled... dj khaled, the grammy - khaled, the grammy award—winning music mogul with the midas touch. his latest partnership with german streetwear brand snipes saw him open a concept store in his hometown of miami.- open a concept store in his hometown of miami. let's go shepping! — hometown of miami. let's go shepping! but _ hometown of miami. let's go shopping! but he _ hometown of miami. let's go shopping! but he is _ hometown of miami. let's go shopping! but he is not - hometown of miami. let's go shopping! but he is notjust l shopping! but he is not 'ust the h -e shopping! but he is not 'ust the hype man. fl shopping! but he is not 'ust the hype man, he isfi shopping! but he is notjust the hype man, he is the - shopping! but he is notjust i the hype man, he is the chief creative officer, a title he doesn't take lightly. why are we seeing more celebrities in executive roles?— we seeing more celebrities in executive roles? you've got to remember. — executive roles? you've got to remember, people _ executive roles? you've got to remember, people throw - executive roles? you've got to remember, people throw that| remember, people throw that name out, celebrity, which is a blessing. i'm very grateful for the world to call me a celebrity. but at the same time, you know, we are visionaries. i think it's beautiful if you think about it, it's like steps of hard work. you get to a certain point, and look at this, he's got his own store, snipes. let's not forget about the years of hard work to get to where i am today.— years of hard work to get to where i am today. given his busy schedule, _ where i am today. given his busy schedule, how- where i am today. given his busy schedule, how much i where i am today. given his l busy schedule, how much can where i am today. given his - busy schedule, how much can a celebrity like dj khaled really contribute? a lot, according to snipes ceo, who credits the wrapper with turbo—charging the company's growth in america from 65 stores to over 300. being honest, it was a crazy move — being honest, it was a crazy move. the time when we made this deal. — move. the time when we made this deal, we just had 65 stores _ this deal, we just had 65 stores in the us. we signed with— stores in the us. we signed with him _ stores in the us. we signed with him and two nba teams, and everyone — with him and two nba teams, and everyone in— with him and two nba teams, and everyone in the united states thought— everyone in the united states thought this german guy is a little — thought this german guy is a little crazy. it was a little bit too _ little crazy. it was a little bit too much for what it is. but — bit too much for what it is. but i — bit too much for what it is. but i think it was the best starting _ but i think it was the best starting point we could have. dj khaled's roll is part of an emerging trend of famous faces taking on executive roles. think pharrell williams at louis vuitton, or the wrapper future at larva. it used to be that to sell products you would hire a celebrity to pose with it on tv ad and stick their image on a giant billboard. the huge sign here, part of the attraction for visitors to times square. but that was before social media. it started in 2008 on — before social media. it started in 2008 on instagram. .. - before social media. it started i in 2008 on instagram. .. vanessa is the new— in 2008 on instagram. .. vanessa is the new york _ in 2008 on instagram. .. vanessa is the new york times _ in 2008 on instagram. .. vanessa is the new york times chief - is the new york times chief fashion critic.— fashion critic. once upon a time we — fashion critic. once upon a time we got _ fashion critic. once upon a time we got most - fashion critic. once upon a time we got most of - fashion critic. once upon a time we got most of our . time we got most of our consumer information in magazines. as the internet allowed direct communication between brands and celebrities and consumers, that stranglehold completely opened up, it was like the floodgates opened. up, it was like the floodgates o ened. ., up, it was like the floodgates oened. ., , ., , , opened. for the stars, she sa s, opened. for the stars, she says. is — opened. for the stars, she says, is about _ opened. for the stars, she says, is about more - opened. for the stars, she says, is about more than l opened. for the stars, she i says, is about more than just the benjamins. says, is about more than 'ust the benjaminsi the benjamins. the actual celebrities _ the benjamins. the actual celebrities want _ the benjamins. the actual celebrities want input, - the benjamins. the actual. celebrities want input, they don'tjust want to celebrities want input, they don't just want to be celebrities want input, they don'tjust want to be a face, kind of giving their image to the brand, they want a say over what their image is connecting to. ., . ., what their image is connecting to. . . ~' ., ., what their image is connecting to. ., ., to. the lack of on paper qualifications _ to. the lack of on paper qualifications may - to. the lack of on paper qualifications may feel. to. the lack of on paper- qualifications may feel unfair, but social media has changed the way the world sees brands, and as long as it makes the company money, the celebrity creative director is here to stay. that's all we have on this edition of asia business report. thanks for watching. buckets, spades and plastic seahorses — it's all been abandoned on the beaches of bridlington in recent weeks. a colourful but depressing sight. the litter pickers of the wi believe the problem's becoming more acute. i think it's probably a reflection of that takeaway, throwaway attitude that we now have. people in the olden days used to take their buckets home every year and bring them back every year. it's known that some local seabirds have ingested harmful plastic waste. and this image on the lincolnshire wash is another powerful reminder that even a simple frisbee can bring misery. the fight to keep beaches clean in this town involves numerous groups and individuals. why are we still having conversations about plastics in our environment? because people watch wildlife programmes, they see the issue. are they notjoining the dots? i really don't know. i think people come here for a good day out and maybe it's the last thing on their mind to collect everything on the beach. they grab the kids and just go. these plastics are going to a local charity shop. they will be back on the beach again, of course, but the hope is, second time around, they will be taken home. for more stories from across the uk, head to the bbc news website. hey, i'm steven with the catch—up. tonight — insecure jobs, big—money moves and a panda party. we're going to start in hawaii, where a massive search is under way for the hundreds of people still missing after wildfires on the island. we know at least 96 people have died, with lots of popular tourist spots completely destroyed. some residents are angry they didn't get enough warning and that people are still heading there for holidays. the same waters that our people just died in three days ago are the same waters, the very next day, these visitors, tourists were swimming in. some other stories now. two men have been stabbed outside a popular gay bar in south london in what police say was a homophobic attack. it happened outside two brewers in clapham last night. the victims are out of hospital and no—one's been arrested. have you ever had a job that short—term where you're not quite sure how many hours you'll do? stats shared with the bbc show the number of people from ethnic minorities doing that kind of work has doubled in the past decade. it only went up by 10% for white people. and there's been more big—money spending in the football transfer market. neymar, on the left, is leaving psg and is off to saudi club al hilal for more than £75 million. chelsea have paid over £100 million to sign brighton's moises caicedo. we're going to leave you with ten seconds of a panda party. this is lei lei, the giant panda cub, celebrating his second birthday at a zoo in singapore. he was absolutely spoiled — he got ice blocks, a watermelon and even a bamboo cake. you're all caught up, have a great night. hello there, i'm olly foster. here's what's coming up for you on sportsday. manchester united were smiling in the end, but wolves didn't really deserve to lose. the saudis swoop for another superstar. now neymar is off to the pro league. and it's almost semi—final time at the women's world cup. we are in australia and new zealand for the latest. welcome along. we're going to start in the premier league, where manchester united have started their season with a 1—0 win over wolves. but that doesn't really tell half the story. united were very relieved when the full—time whistle went at old trafford. the winning goal came in the last 15 minutes, raphael varane with a close—range header. but it was the united keeper, andre onana, who had been far busier on his debut. he looked like he had conceded a penalty in stoppage time as he defended a corner, missed the ball, wiped out a wolves player, but the referee waved away the wolves protests. the visitors had 23 shots on goal. certainly deserved something from the game.

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