Or the pricing of its offering but it is reportedly looking for a valuation of between 60 to 70 billion dollars. Ahead of the ipo, the cambridge base Company Revealed revenue was down 1 from a year earlier. The company, which is currently owned by japans softbank, is a Chip Designer Whose Technology powers most smartphones around the world, including iphones. In 2020, Silicon Valley chip maker nvidia tried to buy arm but the deal fell through because of regulatory scrutiny. Despite that setback, nvidia is apparently in talks to take a major stake in the company when it goes public. Other possible big investors also include apple and microsoft. Since acquiring arm in 2016, softbank has touted the role it will play in the ai revolution. This offering to american investors will be a test of that claim. Lets begin in china, because an incremental cut to a one year lending rate on monday has raised concerns that the worlds second biggest economy is weaker than expected. The one year loan prime rate has now been reduced twice this year. And stands at 3. 45 ,. Down from 3. 65 in may. The aim is to nudge businesses and individuals to borrow money. The central bank has traditionally used it as a tool to slow down or boost economic activity. It is known as the triple r and since december, the peoples bank of china has produced that twice. Combined with additional cuts to the loan prime rates they paint a picture of an economy where retail sales are weakening, inflation is absent and the key property sector remains in a slump. Hong kong based Market Strategist vincent chan of Al Theia Capital told me the market thinks the Chinese Government is not doing enough. The Company Seems to be more concerned about growth but it is not doing enough as the market expected to boost growth. There have been a slew of Economic Data which showed the weak growth. Record high Unemployment Rate in the property sector in crisis and some have been comparing the situation today in china to that of japan in the 1990s. Can you talk as to where the similarities are . I think the similarities, the economy in china similar to japan at that time. The market has similar situations. These two are the biggest similarities in the underlying inflationary pressures. There are some of the things which are quite different. I would like to emphasise. The japanese economy during its lowest growth stage as i a market economy and never cut off from the Global Supply chain by the developed world but china can be much more hostile to domestic private capital as well as the western world which, in turn, it could be isolated from the Global Supply chain so i think there are some major differences between china and japan. The economy data which shows weak growth and record high unemployment and economy in deflation and a securing crisis, some have compared the situation in china to that of japan in the 1990s, can you talk us through the similarities . Katrina ell, senior economist with moodys analytics, she told me the Political Uncertainty is impacting consumer sentiment. I think if we finally have some news on who the next leader will be that will revive activity a bit and will also help with external app as well. Foreign investors have been watching this uncertain political situation so stability is good news. The brics group, made up of brazil, russia, india, china and south africa, are meeting injohannesburg for their summit of major emerging economies. 0ver a0 countries, including saudi arabia and iran Want Tojoin The Group as its seen by some as an alternative to established western institutions. One hot topic is whether they can Work Together on alternatives to the us dollar in global trade along. Archana shukla has more from mumbai. Well, over the last years, brics has seen its influence and Economic Significance grow. It now accounts for over 17 of global trade. For india, the summit is crucial, both from its economic and security interests. Now, russia is its largest Arms Supplier and now is also a key energy supplier. China continues to be the Second Biggest Trade partner to india while being in a border dispute. But the Brics Has Given India A status as a global power in league with russia and china and a voice to be for the global south. This is what india would like to establish even in the current brics summit. So while issues like economic cooperation, Food Security and expansion of the brics will be discussed, but amidst the geopolitical flux post the Russia Ukraine war issues of global peace terrorism will also be taken up. And here the meet will be an opportunity for indian Prime Minister. Right ahead of the g20 Leaders Summit next month, where india as a host is seeking a consensus on global issues, especially with russia and china now with china in attendance at the brics summit. Political observers say pm modi is expected to reiterate his stance on how brics members need to respect each other� s security interests. All eyes will also be on a probable india china bilateral meeting on the sidelines. While there has been no formal confirmation so far. If this happens, it will be the first since the border standoff intensified between the two countries in 2020. All eyes will also be on a probable india china bilateral meeting on the sidelines. While there has been no formal confirmation so far. If this happens, it will be the first since the border standoff intensified between the two countries in 2020. The saudi pro they can shake in the globalfootball the saudi pro they can shake in the Global Football industry by signing a host of high profile for record salaries. The latest is a brazilian player who left psg who joined is a brazilian player who left Psg Whojoined in a deal worth almost 100 million. Critics have accused saudi arabia of trying to sports was eight image using its multi billion Dollar Investment in sport to remedy its reputation for human rights abuses. It means a lot for us. He is a megastar player. Brazilian leader and he will bring a lot of fans. We are so happy that stars like him are playing here in saudi. We have that the saudi league will become as good as the other leagues in europe. The ambitious project to make saudi arabia football powerhouse started with the arrival of ronaldo last year. This was followed by another record deal. Since then, there has been an influx of foreign players. A couple of months ago, the top four saudi clubs were bought over by the paf, which is the countrys cash rich sovereign wealth fund. Now, what it has done enable clubs like this to offer Eye Watering Salaries to a attract some of the biggest names in Global Football. Some of the biggest names in globalfootball. Sport is some of the biggest names in Global Football. Sport is one of the main pillars of the countrys Diversification Programme which aims to reduce the reliance on oil revenues by Building New Industries and attracting foreign companies. In line with that they intend to continue spending big. We have a to continue spending big. Have a commitment to support this for herfor long have a commitment to support this for her for long it takes however, the responsibility that we have against that commitment is still also to attract their Commercialisation Element of the strategy so that we can increase that so that we can be responsible for our own financial growth in the future not be wholly dependent on the government. Government. Saudi arabias tar et is government. Saudi arabias target is to government. Saudi arabias target is to elevate government. Saudi arabias target is to elevate sbl government. Saudi arabias target is to elevate sbl in l government. Saudi arabias l target is to elevate sbl in the top ten in terms of revenues by 2030. It is still early to judge whether these investments would pay off in the long run but the strategy has demonstrated the gulf nations ambition of becoming a Major International football hub. Lets quickly show your live pictures from thailand. As we told you earlier on newsday, there were rumours that former Prime Minister might be returning home after 15 years in exile. A lot more coverage on our website and also on the news channel. That is it from the show. Thank you so much for watching. Bbc news bringing you different stories from across the uk the painstaking the creation of the burial ship. Using Tools Anglo Saxon shipbuilders would have used, the latest Recruits Apprentice Joiner is. Have used, the latest Recruits Apprenticejoiner is. You are just massively appreciative really of craft and what they did and how they engineered these things to go on the sea. Since its discovery in 1939 bait the local archaeologist basil brown the story of the boat and its extraordinary treasures has enthralled the world. 600 ad ship is thought to be the final Resting Place of a king. Backed by donations and more than 100 volunteers the charity began reconstruction in 2019. The other marketers experiment. We are building the best guess we can of what that ship looked like but will only be proved once we get it on the water. 0nce once we get it on the water. Once it is in place, it will be fitted with seating for a0 rovers. If all goes to plan, the launch will take place in the launch will take place in the spring of 2025. Hey, im zoff with the catchup tonight. Lucy letby is jailed for life. Spains world cup win and cat cuteness. But first, our top story. Manchester united striker Mason Greenwood will leave The Club By Mutual Agreement after an internal investigation into his conduct. The 21 year old was arrested last year following allegations of rape and assault linked to material which was published online. All charges were later dropped, but united have been carrying out a six month investigation before making a decision on his future. In a statement, the club said that whilst they were satisfied that greenwood did not commit the acts hed been charged with, he has made mistakes which he took responsibility for. Some other stories now. Ajudge in britain has sentenced neonatal nurse Lucy Letby To Life In Prison for murdering seven babies and attempting to murder six others. And in london, has returned to the stage in his first uk gig since two people were crushed at his concert last year. Khumalo and Gabby Hutchinson died after a crowd surge outside 02 academy in brixton in december. And to football. Englands lionesses are returning home after finishing runners up at the womens world cup and winners, spain have continued their celebrations on the plane home. Its the first time the team have ever won the trophy. And time now then for 10 seconds of cat cuteness. Karen and her daughter lauren live with over 70 cats at their home in wales. 60 of those they actually rescued. I absolutely love it. Im a crazy cat lady, so that is my dream house. Youre all caught up now. See you later. Hello and welcome to sportsday im tulsen tollet. Mason greenwood is to leave Manchester United by Mutual Consent following an internal investigation by the club over his conduct. Spain return home from australia after claiming the womens world cup and Shacarri Richardson claims World Championship gold for the first time winning the 100m title in budapest