business report. no frills airline, ryanair, thought to be about to announce big annual profits. we'll find out what they are doing right while others struggle. more banks fines in the wake of the 1mdb scandal. singapore's uob and credit suisse are fined just over a million dollars for money laundering for transactions related to malaysia's scandal—ridden state fund. welcome to world business report. i'm jamie robertson. in a minute we'll have this. japan, how consumers are making a bit of a comeback. the biggest in something like ten years. but first: in a few hours‘ time, the no frills airline, ryanair, will report its latest set of financial results. europe's biggest carrier by passenger numbers is expected to announce a 14% jump in full year profit to around $1.5 billion us. ryanair‘s performance is a sign that its cost—cutting measures are helping the business compete as overcapacity continues to dog the industry. investors seem encouraged by the progress the company is making. ryanair‘s share price is up around 70% compared to its post—brexit low. nonetheless, it's been a difficult period for airlines with security fears and political uncertainty clouding the skies for many of europe's biggest carriers. what's more, there could be further turbulence ahead as the rising oil price hampers any attempts to reduce costs. the world's oil producing nations have just agreed to extend production cuts, though it remains to be seen whether the deal will hold. with me is graham dunn, editor at flightglobal. they seem to have managed to do this because of cost—cutting. what have they done? ryanair have been in expansion mode. they placed a big orderfor 7800s they are expansion mode. they placed a big order for 7800s they are cheaper to run. and as you get bigger, you can make better deals. they have long—term partnership deals with airports. they have promised to grow new routes. when they last were talking before the brexit referendum and immediately afterwards, they said it would be a real problem for them. there was a lot of uncertainty around it. at that time, no one quite knew what was going to happen. currencies obviously had a big impact. tickets sold in the uk, a large market for them, obviously, the yields from that went down because of the drop in currency. why else? surely they were selling a lot not just else? surely they were selling a lot notjust in the uk. yet. that is the success notjust in the uk. yet. that is the success of its model, it has a pan—european carrier model. it is right across europe. that gives it the opportunity to, you know, ramp up the opportunity to, you know, ramp up in areas that are prosperous and doing well. the airline has talked about perhaps doing... it has talked about perhaps doing... it has talked about pivoting back, i think that is the expression used, growth in the uk amid brexit. do we have any idea what will happen with open skies after, during, the brexit negotiations? that is at the heart of it. the answer is no, really. i think no one thinks there is not a desire to make it happen. the big concern is does it become a political football, collateral in something else? if bradford does not turn out to be smooth, the negotiations, that makes it difficult. —— brexit. airline like certainty and the rules and regulations they are operating under. they like to know those. thank you. singapore has fined two banks over the imdb scandal. singaporean bank uob and credit suisse are facing penalties of more than half a million dollars each. let's go to sharanjit leyl in our asia business hub let's go to sharanjit leyl in our asia business hub in singapore. tell us what happened. what was the scandal? that is right. it follows a two year review by financial regulators here. we know that malaysia's imdb fund is at the centre of money laundering allegations. six different countries had it set up by the prime minister. it was meant to turn kuala lumpur law into something of a financial hub. it attracted a lot of attention just two years ago after it missed payments for some of the $11 billion it owed to banks and bond holders. there was the wall streetjournal article, a number of reports, alleging that they had seen a lot of that money, some 700 million of the fund, go into the prime minister's personal bank account. quite the big scandal here. many countries are investigating financial institutions linked to 1mdb. and singapore is right across the border. it has been partially affected as well, of course, according to the managing director of the central bank. the two year—long review holds key lessons for both it and financial institutions in singapore following abuses linked to the 1mdb fund flows, they say. he went on to say that the price for keeping them clea n that the price for keeping them clean as they grow in size and interconnect is vigilance, according to him. so, yes, these fines being forced on these two banks. they are not the only ones under scrutiny. there have been others as well, with fines adding up to $20 million of penalties. eight different banks here. thank you so much, sharanjit leyl it is two months since british prime minister, theresa may, started the process of leaving european union. how are businesses reacting to the news? well, in different ways. anita massarella is an exclusive dress designer based in the north of england. her average dress sells for over $12,000 and she imports her materials from all over the world. the business is designed. we specialise in designing and producing dresses. my biggest break was when i got a telephone call from silk suppliers who wanted beauty wherefore margaret thatcher. —— beautyware. we design everything it in—house. everything is made in britain. i always use the best suppliers of fabrics. we used silk from china, india, france, and good old yorkshire. the world's finest cashmere. british suppliers are using brexit to put up prices. no one else around the world even mentions it. i think because i have beenin mentions it. i think because i have been in business for 27 years, i cannot see that brexit is going to affect the way i trade with anyone. with brexit, i do think it is going to bea with brexit, i do think it is going to be a good thing. i can only see it opens up a much wider world. it would be wonderful if we can generate better trading agreements with asia and other parts of the world. we... ifind, personally, it is easy to deal with traders from other parts of the world. i think britain needs to get its act together. i think the worst trouble for us as we are together. i think the worst trouble for us 3s we are not together. i think the worst trouble for us as we are not good sales people. i am the daughter of italian immigrants soi people. i am the daughter of italian immigrants so i think britain has given immigrants and amazing opportunity and it has brought all these very skilled people together, which i think is absolutely wonderful. but at the same time, i think we have got to get out further into a bigger world if britain is to survive as a nation doing business. anita massarella talking there. and 110w anita massarella talking there. and now for some other news. retail sales injapan rose more than 3% in april compared with a year ago. that's higher than economists had been expecting and comes just weeks after government data showed the economy grew faster than expected in the first three months of the year, clocking its longest period of expansion in more than a decade. a quick look at the markets. i hope. the nikkei is down. the oil price around $52. not doing a huge amount despite attempts by opec and non—opec countries to cut back on production. we will be back in a short while to talk about the newspapers. bbc news has been told the name of the female zookeeper in cambridgeshire who was killed by a tiger yesterday. rosa king, who was 33, worked at hamerton park zoo. it will remain closed today while an investigation continues. amy cole reports. mauled to death by one of the tigers inbee park. she has been named locally as rosa king, one of the zoo keepers, and was killed by one of the animals in the enclosure. it is not known what has happened exactly yet. busy with bank holiday visitors, several posted photographs with the helicopter that landed. they were led away but some claimed they were allowed back in for a short period before the park was closed by zoo officials. they later handed out a short statement that says this. nine years ago, a cheetah escape through a broken electric fence. it was later captured nearby and no one was hurt. police say it there were no suspicious circumstances and a full investigation is under way. the zoo says it will remain closed today. coming up at six o'clock on brea kfast, coming up at six o'clock on breakfast, all of the day's news, business, and sport. and today they'll be live from the welsh resort town of clandidno for an election special. they'll be speaking to a panel of voters to find out what the big issues are for them. and they'll also have more on new research by scientists in the united states. they say they have made a major advance in the fight against infections that are becoming resistant to antibiotics. researchers have modified an existing medicine to create what they call a "magical" new version, which is about a thousand times more powerful. this is bbc news. the latest headlines: the leaders of britain's two main political parties face questions from a live tv audience, before next week's general election. mrs may is criticised over social care and mr corbyn for his past relationships with militant groups. scientists say they've made a "major breakthrough" in the battle against infections that are resistant to antibiotics. a us team says by modifying an existing drug they may be able to combat one of the biggest threats to global health. after days of airport chaos, the boss of british airways has apologised for the disruption caused by its computer meltdown, but refused to resign. he denies the crisis had anything to do with ba shedding large numbers of it staff. golfer, tiger woods, has denied he'd been drinking, when he was stopped while driving his car in florida. in a statement, tiger woods blames an unexpected reaction to prescription drugs. now it is time for our news review. le figaro covers french president emmanuel macron and russian president vladimir putin's first official visit. at a tense news conference near paris, mr macron said the two men had aired their differences, while agreeing on the need for strong cooperation over syria. the times alleges that british airways has been accused of profiting from passengers misery amid claims that passengers affected by the company's global it crash were made to pay for expensive upgrades to reach their destinations. the independent says french officials are having serious talks with financial institutions looking to move away from london as britain prepares to quit the european union. the paper says removal of london's euro—clearing business could cost the city thousands ofjobs. the guardian financial section says greece has warned its recovery could be thrown into doubt if brussels blocks a debt deal at the next meeting of euro area finance ministers. and finally, also in the times, according to a recent poll of 2000 drivers, motorists waste about 29 hours every year due to vehicle satnavs giving the wrong directions. almost half of drivers disagreed with much of the information provided while a third admitted screaming at their satnav as if it was a real person. with us is david buik, who's a market strategist at panmure gordon.