the cpi numbers earlier. while the headline cpi did increase, core cpi — which excludes volatile inputs such as food and energy — is actually higher. it's at 4.3%. and that's illustrating that underlying inflation seems to be a lot stickier than anticipated, which, as far as fed policy goes, means that rates likely have to continue to stay higher for longer. the federal reserve has been keeping rates high, and that is likely to be the strategy we are expecting to see? exactly, yeah, and there is other tools that potential they could leverage, such as reducing the size of the balance sheet, through so—called quantitative tightening, and that could push yields up and increase borrowing costs which, in essence, has similar effects raising interest rates. as far as markets go, they are expecting the fed to raise rates not at this upcoming meeting, i believe, next week but actually more likely in december. dimitri, how have consumers and businesses really responded to the rising cost of living there and what is, in your opinion, going to be the short and long—term impact on the american economy? as far as the impact goes, the thing about monetary policy is that there's a tremendous lag effect, which is why we had that so—called hawkish pause earlier in the middle of this year. it allows fed officials, essentially, to assess the impact that fed policy is having on domestic economic growth. certainly, higher inflation is pinching the wages of workers. but if you look at, for instance, the eurozone and china, certainly, they are in a far worse off place than the us. when it comes to gdp, second—quarter gdp, on a quarter on quarter basis, it came in at around 2.1% versus the eurozone and china, which came in at 0.1% and 0.8% respectively. as far as the consumer goes, as long as inflation continues to remain high, certainly it'll eat into their wages. i think some things to look at in the future will be the resumption of student loan payments, for instance, which actually may take away from some of the economic dynamism that's been fuelling the us economy, because those payments now, instead of going towards disposable goods orjust using that disposable income to purchase goods and services, it will then go to the debt service payment. so i think that's another headline risk to certainly be watching for and its impact on the us economy, both in the short and medium—term. central banks in china and japan have gone the opposite direction. both yuan and the yen have been weak against the us dollar. covered one describes impact he has seen the market. ——: one. if you look at it from japan's cosmic perspective, the japanese yen has been weakening since the start of this year, so what we expect... we see the exports improved slightly. however, manufacturing actually slowed down injapan. so what we will see at this moment in time, inflation has started to directly pick up injapan, with a potential... a confident forecast forjapan. hitting the target of 2% before 2023's end. one of the hottest ipos will begin trading later today. uk chip designer arm has priced its initial public offering in the us at $51 a share, securing a $54.5 billion valuation. shares in the company are expected to begin trading thursday in the year's biggest ipo, which could raise up to $5 billion, taking the company's market value up the bbc�*s erin delmore has more from new york. if you have a smartphone, there's a 99% chance it's powered by a chip designed from the softbank—owned company arm. shares in the company are expected to begin trading thursday in the year's biggest ipo, which could raise up to $5 billion, taking the company's market value up to more than $50 billion. this is the first time in seven years that the company is selling shares to the public. last year marked the slowest yearfor american ipos in three decades, due in part to high interest rates, recession fears and geopolitical tensions. that's on the heels of a few tough years for ipos, prompting questions about why the british chip designer didn't get listed in london. analysis by the london stock exchange group showed that the 260 ipos that debuted with stock market values above $1 billion over the past four years are down 29% from their offering prices. that's according to reuters. for companies that are considering going public this year or early next, arm's ipo would offer some insight into whether the waters are warm or whether they're better off waiting on the sidelines. and more broadly, a successful foray into the market would inject some confidence into the wider financial world. this weekend, singapore plays host to formula one's night race for the 14th time. organisers have pledged to halve energy emissions by 2028, as the fi group is aiming for net zero by 2030. and that's a far cry from where they are today. our business reporter katie silver went on a mission to find out why. track—side, this year, the bright lights are a little bit brighter. they are not the traditional metal bulbs, they are led, which may reduce energy consumption by about a third. you have more with less power, which will last for ten times more. quite an interesting and big operation because we are working for three and a half months before the race. the installation process was quite massive. in just a few days, the world's bus drivers will be here in singapore racing down these streets, under these led lights, and while the lights may be a step in the right direction, the question is whether a sport that is based on fast cars, plenty of petrol and flying all over the world can ever be truly sustainable. we have to look across our entire sport, from the cars going around the track, which are actually less then i% of our carbon footprint, although a three to the travel and logistics of how we get to these great events. we look at our cars and road developments. they are the most developed hybrid engines in the world. there will also be sustainable fuel by 2026. last year, the singapore grand prix admitted a whopping... 2300 tonnes of carbon dioxide. its pledge to have energy emissions over the next five years. increasing the use of renewable energy around the circuit of this is true, first —— disaster for solar panels on the pit building... as well as increasing the use of biofuels within our generators. one of the major criticisms when it comes to f1 and sustainability is the race schedule, and at times, how geographically nonsensical it is. it starts in the middle east before dashing to australia, to azerbaijan, next miami and then to monaco for this season in europe. this then gets by a date in canada, a journey of some 6000 limiters, only forthejob is to go back again to europe. then it is off to asia, singapore and japan, before a stop in the middle east, then to the us, all the way down to south america come back to the us for las vegas, a new street circuit, before the final in abu dhabi. that's right, back to the middle east which, you might remember, is where it all began. it is something they are already tweaking. that is the real challenge we have at the world championship. two thirds of our carbon footprint is travel and logistics and that is something that will be delivering against from now till 2030. supporters say it could help drive technology to make fuel more sustainable, but the finish line is still a long way off. katie silver, bbc news, singapore. in other news making headlines... a gathering of who's who in the tech industry have been meeting with us politicians in washington over the future of artificial intelligence. the chief executive of tesla: musk has called for a us referee for al. he was by mark zuckerberg ai. he was by mark zuckerberg and set up a child. they are looking for ways to mitigate dangers of the emerging technology which has boomed investment and consumer popularity since the release of open al's chatgptjackpot. google parent alphabet is laying off employees from its global recruiting team as the tech giant continues to slow hiring. the company says the decision to let go of a few hundred employees is not part of a wide scale lay—off and will retain a significant majority of the team for hiring critical roles. it will also help the workers search for roles within the company and elsewhere. alphabet is the first "big tech" company to lay off employees this quarter. after peers like meta, microsoft and amazon downsized aggressively earlier in 2023 as a weak economy put an end to their pandemic—led hiring sprees. and that's it for this edition of asia business report. stay with us. thanks for watching. bbc news, bringing you different stories from across the uk. 0h, he'd like to know that. open all hours. janet can stock up on as much cliff richard memorabilia as she likes. we'll have to write to him, janet, see if he can come and visit us. this shop sells everything from jewellery and bags to hats and antiques and has been specially curated to tap into the interests of the people who live here. you like that? i love that. it's going to be your colour as well. the concept of the shop is to encourage independence and staying active to make the experience as authentic as possible. the customers are given replica money to spend. and this is your change. sometimes in dementia you can have really bad days and when family come in, they really struggle sometimes to make conversation and just don't know what to do. so witnessing actually they can talk about, "oh, look at this, "should we buy this and can you remember this?" it's heart—warming to see and it makes that visitjust go much more smoothly. for more stories from across the uk — head to the bbc news website. hey, i'm stephen with the catch up! we're starting with calls for new trans guidance for schools. it's something that's been promised for five years, but still hasn't been finished by the government. it would cover things like what toilets and changing rooms students could use, where they'd sleep on school trips and how much parents should be told. we've been hearing from the parents of children questioning their gender identity. some want schools to tell them if their child wants to change their name or pronoun. others are worried that outing trans children to theirfamilies could lead to rejection. the government says it wants to take more time so the guidance gives proper clarity — in the meantime, it says parents should always have a say in decisions about their children. you can read loads more about this on the bbc website. some other stories now. and an update on the death of 10—year—old sara sharif. she was found dead at her home in woking last month — the day after her dad, step—mum and uncle had left the uk. they've now been arrested on suspicion of murder after arriving on a flight here from pakistan. next — you've probably seen this shocking video of an american bully xl attacking people in birmingham. a 60—year—old man's now been arrested. ii—year—old ana paun was bitten by the dog and told us she was really scared. she is now out of hospital. you've heard of toad in the hole — tonight it's ten seconds of a cow in a hole. the bullock — and no, i didn'tjust swear — fell into a sinkhole on a farm in county durham. the good news is it's been winched out and is now back in the field with its pals. you are all caught up. have a good night. hello and welcome to sportsday. i am marc edwards. here is what we have got coming up on our show. super stokes smashes his way into the history books. there's a new one day batting record for england. the sub squad for the springboks including four scrumhalves, as south africa ring the changes ahead of their match with romania. and it's a dream davis cup debut for draper as he downs kokkinakis to help great britain beat australia. hello, and thanks for joining us on sportsday. and we're going to start with cricket, where it's been another record—breaking day for ben stokes. the all rounder smashing his way into the history books with the highest score by an england batter in a one—day international, as he hammered a brutal 182 in the third 0di against new zealand at the oval in london. stokes had only come out of one—day retirement to play in this series and the world cup in india next month. and what a reminder of what the test captain brings to the shorter form of the game, nine sixes and 15 fours in his i24—ball innings. and that fabulous batting performance laying

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