let's talk about those job numbers. lower than expected. what is your analysis? lower than expected. what is your anal sis? , ., ., analysis? they were lower than exected analysis? they were lower than exnected but — analysis? they were lower than expected but we _ analysis? they were lower than expected but we see _ analysis? they were lower than expected but we see the - analysis? they were lower than l expected but we see the markets analysis? they were lower than - expected but we see the markets will be celebrating this because this means that the policy tightening that we have seen for so many months is really beginning to work. and what that means is that the market has now mainly decided that the federal reserve does not need to hike interest rates any more. there was a big over whether or not there would be another interest rate height development height and that has been brushed aside by some data showing some slowing. if you like, this is pretty good news. we have seen the equity market really celebrate the news. it has had a very good week and that has been accentuated by the data today. these accentuated by the data today. those numbers also — accentuated by the data today. those numbers also impacted _ accentuated by the data today. those numbers also impacted by _ accentuated by the data today. those numbers also impacted by the - accentuated by the data today. those numbers also impacted by the big strikes at the three auto—makers. manufacturing jobs particularly has been soft. there was job creation and other sectors. what is important to stress about this is while it was weaker than expected, while it shows a much more moderate labour market than we have seen for quite some time, it is not a terrible report. what it is showing is a much more moderate pace of expansion in the us economy and much more moderate expansion in the number ofjobs created. perhaps matching the size of the labour force expansion. created. perhaps matching the size of the labourforce expansion. so it is not a terrible report but it is certainly one of moderation. i admit there is also been numbers in the past two months, cutting them from 101,000. what is going on? you make that sound is huge and it is a huge number ofjobs. the last monday number ofjobs. the last monday numberfor number ofjobs. the last monday number for september was extremely large. there was a far greater than expected headline number and this has come down. we are used to seeing revisions. the date is very famished. today's data is for october. we are onlyjust in 0ctober. we are onlyjust in november so we can expect revisions. these were particularly large but these numbers we saw last month was particularly large. you these numbers we saw last month was particularly large-— particularly large. you talked about the showing — particularly large. you talked about the showing that _ particularly large. you talked about the showing that it _ particularly large. you talked about the showing that it is _ particularly large. you talked about the showing that it is working. - particularly large. you talked about| the showing that it is working. what you think will mean for inflation and interest rates going forward? well, the labour market cools less people are looking for a job and that means inflation is coming down and that is what this report produces, too. wage inflation. that is good news and that should mean that inflation continues to come down. that is why the markets judge that they don't need to hike interest rates again and what looks quite likely at this point for the us is that they may avoid recession so we might have what the market is referring to as a soft landing rather than a technical recession which is good news.— which is good news. great to anal sis which is good news. great to analysis as — which is good news. great to analysis as ever. _ which is good news. great to analysis as ever. thank - which is good news. great to analysis as ever. thank you i which is good news. great to l analysis as ever. thank you for being with us. sam bankman—fried, who once ran one of the world's biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a month—long trial in new york. the jury delivered its verdict after less than five hours of deliberations. it concludes a stunning fall from grace for the 31—year—old former billionaire, once known as the "king of crypto", who now faces decades injail. his sentencing has been set for 28 march next year. we're nowjoined from new york, by our north american business correspondent michelle fleury. what impact could it have on the crypto sector? good to see you. what is the reaction been to this guilty verdict? ., ., ~' ~' reaction been to this guilty verdict? ~ , .,, reaction been to this guilty verdict? ~ , ., verdict? look, i think people are re verdict? look, i think people are pretty stunned — verdict? look, i think people are pretty stunned that _ verdict? look, i think people are pretty stunned that it _ verdict? look, i think people are pretty stunned that it took - verdict? look, i think people are pretty stunned that it took the i verdict? look, i think people are l pretty stunned that it took the jury only foreign to have hours to convict sam bankman—fried, the crypto king as he was once referred to. guilty on all seven counts. i mean, this is an astonishing fall from grace. if you think back over a year ago, from grace. if you think back over a yearago, he from grace. if you think back over a year ago, he was hobnobbing with washington elites, he was taking out ads in the super bowl, one of the biggest marketing events of the year with a kind of all—star line—up. now, of course, his next public appearance will be in march, you mention, mention, ray bases the judge for sentencing, potentially up to 110 years begets the maximum. in a press conference following the verdict, a us attorney said that while the crypto currency industry may be near the crime committed he was not. same crypto currency may be new. players like sam bankman—fried may be new. but this kind of fraud, this kind of corruption is as old as time. and we have no patience for it. you had there, you know, the prosecution for the presenter sam bankman—fried's case is filed, plain and simple. but his position throughout the trial was that he may have made mistakes, but that he was not guilty. in fact, his lawyer said we respect the jury's decision but we respect the jury's decision but we are very disappointed with the result. and of course sam bankman—fried throughout this has maintained his innocence. we will have to see what he does next. i5 have to see what he does next. is there any fallout from this trial and verdict on their crypto sector? i mean, this is an interesting question. you know, there was a white—collar lawyer who sort of pointed out that this could potentially have reverberations throughout the industry. that it sends a message that prosecutors, regulators may act. i mean come at the moment because, as we have said, this is a very nascent industry, there are not that many rules of the road out there so, in the absence of congress acting, what this message sense here is that lawmakers are prepared, or i the justice system is prepared, or i the justice system is prepared to act even if the rules are not there to determine it. thanks very much. good to see you. good to see you. the world's second largest container shipping company, maersk, has announced that it will cut 10,000 jobs as it faces lower freight rates and subdued demand for container shipping. the danish group said it aimed to reduce its workforce from 110,000 to below 100,000, a move that would generate annual savings of $600mn. peter sand is chief analyst at the shipping analytic company xeneta, he says it is a challenging time in the shipping industry. like any other major liner in the global logistics industry they are really facing a turnaround. a full reset in terms of revenue and profits from one year on where we had container shipping rates and long—term rates basically peaking. so that data showed that those sales prices, those freight rates are now done by a t— 90%. is an adjustment also to the future headwear demand will be under siege as we just heard from many other companies, the cost of living crisis also takes a bite into container shipping demand and we are facing an influx of new ship so the fundamentals are stacked against it. australia's prime minister anthony albanese will travel to china this weekend, where he will meet president xi jinping and other chinese officials. the two countries do a huge amount of trade together, but political disputes have soured the relationship and led to beijing imposing a string of tariffs on australian products. so does this visit signal an easing in the strained relationship between australia and its largest trading partner? the bbc�*s nick marsh reports. china and australia are two countries that need each other but recently, they have not been getting on. they have had quarrels over coal, they have had beef over beef. for a while, it did not seem good. but, recently, things have begun to improve. it is a bit of a funny relationship. so let's take a look at what is going on. first, australia needs china. before this latest rift, nearly half of australia's exports went to china so when china started putting restrictions on australian goods, businesses and their workers took a $20 billion hit. true, you can sell things like barley wine and coal to other countries but why would you go to all that effort for the chinese market is right there? second, china needs australia and that is because china builds a lot. if you want to build a new airport, well, australia is the global leader. if you want to build batteries for ev is, australia has got half of the world's lithium supply. these kind of crucial commodities were never on tariff less. beijing might be this economic superpower in this relationship but canberra does hold some of the cards. and lastly, the united states is actually going to be crucial to all of this. make no mistake, when push comes to shove, australia is really on the american side of the super power struggle. don't forget, the first country in the world to ban 5g, just to give you an example. the us is pretty demanding on its allies and naturally this is going to put a strain on the relationship between australia and china. this recent normalisation of ties between the two countries does show that they want to keep things purely business. but with all these external pressures, the question is whether they are going be able to keep itjust the two of whether they are going be able to keep it just the two of them? whether they are going be able to keep itjust the two of them? nice bit of soft tunes. nice bit of soft tunes. in other news. global food prices continue to drop, but at a slower pace, according to the un's food and agriculture 0rganisation. prices forsugar, cereal, vegetable oil and meat were down while dairy products went up in price. the un food price index fell 0.5% in october from september to 120.6 points, its lowest level since march 2021. ticketmaster's parent company live nation entertainment has reported its strongest results ever following massive sell—outs at taylor swift and beyonce concerts. revenue for the company in thejuly to september quarterjumped more than 30% from a year ago, a majority of that coming from ticket and merchandising sales for their live concert events. the boss of the streaming service hbo has apologised for asking employees to set up fake social media accounts to hit back at tv critics. casey bloys's apology comes after a rolling stone report alleging the ceo had sent text messages discussing what he called a "secret army" to respond to negative reviews. 0nline retailer amazon is accused of making more than $1 billion extra profit, through a secret price—manipulating algorithm. the accusations comes in a lawsuit filed by us antitrust regulators. the federal trade commission says amazon deployed an algorithm called "project nessie" to increase prices in order to make other retailers, matching amazons prices, follow suit. amazon has responded saying the ftc allegations grossly mischaracterise the project nessie tool. don't forget you can get in touch with me and some of the team on twitter, i'm @samanthatvnews. we have 7000 processors and here performing 19 million million calculations per second. that generates a lot of heat. this is air and water cooled for energy efficiency. but why do we need it? without ai capability sciences held back. cancer research. we need huge amounts of data, we just can't process it. with machines like this, researchers can process 100 times more data. researchers can process 100 times more data-— more data. one of the biggest challenges _ more data. one of the biggest challenges facing _ more data. one of the biggest challenges facing us _ more data. one of the biggest challenges facing us right - more data. one of the biggest challenges facing us right nowj more data. one of the biggest l challenges facing us right now is climate change and we are struggling in the uk to try to come up with the computing capacity we need to tackle the challenge. we've taken huge amounts of data. 0bservations the challenge. we've taken huge amounts of data. observations about our planet taken from satellites, from drones, from on the ground centres, we pull this together and with it for insights based on those networks. the with it for insights based on those networks. ,., ., , networks. the government has invested £900 _ networks. the government has invested £900 million - networks. the government has invested £900 million in - networks. the government has invested £900 million in this i invested £900 million in this project. this isjust phase invested £900 million in this project. this is just phase one. critics argue it is not enough to keep up with the silicon valley companies. hello from the bbc sport centre. more on the cricket to come, but first, saturday's early premier league kick off where manchester united travel to fulham. united boss erik ten hag, very much under pressure after their 3—0 defeats to rivals manchester city, and in the league cup to newcastle. speaking to the media today ahead of the game, ten hag reiterated he's the best person to turn around their fortunes. they are positive. and they want to put this right and we know the standards here and we have to match the standards every day. and with two big setbacks but we will fight back. the staff are strong and the management is strong to put this right. liverpool are in action on sunday against luton, and their managerjurgen klopp said it'll be up to luis diaz, on whether he chooses to play or not. diaz returned to training this, following his father's kidnapping in colombia. reports from the country suggest the guerrilla group eln, are holding him, and will release him soon. the exact details of the rescue not clear at the moment. klopp says the decision rests with diaz, over his availability. the news from colombia, i did not