or not lawmakers will pass a deal to raise the country's $31 and a half trillion dollar debt ceiling. washington says president biden is having conversations with both progressive and moderate democratic members of congress to try to get the deal over the line. the white house budget chief shalanda young says the so called x date when the us government would run out of funds is likely to remain atjune 5th, just 5 days away. this agreement is now with the united states house and then on to the senate. and we strongly urge both chambers to pass the bill and send it to the president's desk. i've always thought the majority of members, democrats and republicans, do not want to take us even to the brink of default. i think this bill shows that that assessment was correct. and we have to keep our eye on the prize, that passing this bill, getting it to the president avoids the catastrophic thing

that would hurt millions of americans. and there's a reason world leaders were worried about this. this would have impacted the global economy. something that did rally wall street though today was the chip—maker nvidia. for about 5 minutes it was part of the elite club of us companies worth a trillion dollars. the company's share price shot past $412 on tuesday, having risen by more than 30% since last week. other companies part of the trillion dollar club are apple, amazon and alphabet. the bbc�*s north america business correspondent samira hussain reports from new york. for a brief few moments nvidia was able to call itself a chilling dollar firm the search came up to the chip—maker shocked analyst by forecasting a surge in demand for its products because of advances in artificial intelligence or ai.

artificial intelligence or al. the hardware made by nvidia underpins most ai applications today with one report suggesting it has cornered 95% of the market for machine learning. over the past 12 months nvidia's share price has more than doubled. investors are betting the company will be able to profit from its foresight in developing chips that are easily adaptable. and of course ai is the next hot thing intact and certainly an area with a lot of growth potential. but now there are questions about whether nvidia has ability to keep up with this demand especially as of the demand especially as other chip—makers like intel and amd try to get in the game. staying with chips... collaborating to make advanced chips together. tokyo is also agreed to match washington's

export control on china which limits the sale of chip—making tools. a little earlier i spoke tools. a little earlier i spoke to daniel lives who told me that it to daniel lives who told me thatitis to daniel lives who told me that it is a game of thrones style fight between the us in china. , ., . , ., ., china. the big forces going to be on automotive _ china. the big forces going to be on automotive as - china. the big forces going to be on automotive as well- china. the big forces going to be on automotive as well as l china. the big forces going to l be on automotive as well as ai. and that is important because they play a key role which is what you are starting to see the rhetoric coming out of beijing, stronger and stronger. this is important especially as we go into what i continue to view as a game of thrones battle on the ai front. we were talkin: a battle on the ai front. we were talking a while _ battle on the ai front. we were talking a while ago _ battle on the ai front. we were talking a while ago about - talking a while ago about supply chain issues and one thing that comes to mind is that when you stuck the gap of this trade that we may see some of that again. could we season's problems with the supply chain? i season's problems with the suwly chain?— season's problems with the supply chain? i think that is the last thing _ supply chain? i think that is the last thing they - supply chain? i think that is the last thing they want - supply chain? i think that is the last thing they want to l the last thing they want to see. especially now we are starting to see the supply chain to starting to normalise. i think that continues to be the biggest risk. there are

geopolitical poker game that is going on between the us and china and japan caught in the middle and investors are reading right now that the bark is worse than the bite but clearly this is what i would call the black cloud of the background. i call the black cloud of the background.— call the black cloud of the background. i have to ask, nvidia are _ background. i have to ask, nvidia are we _ background. i have to ask, nvidia are we going - background. i have to ask, nvidia are we going to - background. i have to ask, nvidia are we going to see| background. i have to ask, i nvidia are we going to see it in the trillion dollar club? i think they will because i think it is the biggest transformative thing we have seenin transformative thing we have seen in 30 years covered in terms of ai, nvidia are the only game in town. i think they will be giving that pass to that trillion dollar club. a free trade deal between australia and uk comes into force today the first the uk negotiated from scratch after it left the european union. westminster has said it will add almost three billion pounds to british exports, describing the deal as "fantastic". however uk farmers warn they could be undercut by cheap imports, which could cost jobs. the government says it would

only at .08 to the u k economy. a uk new zealand deal starts today as well. by by the accounting form pwc. the country treasury says that it would be reviewing its contract with the company in the matter has been referred to police for criminal investigation. pwc has suspended nine partners after e—mails show that its australian operation had missed use information on tax proposals to drum up new business around the world. it's acting chief executive said that there has been a failure of leadership in governance. the disgraced entrepreneur, elizabeth holmes, has arrived at a us prison to begin an 11 year sentence. she reported to the facility in texas after a court rejected her request to remain free on bail. ms holmes was convicted of fraud

last yearfor duping some of the world's richest investors into backing her failed blood testing company, theranos. the firm was once valued at nine billion dollars. but its technology never worked and it collapsed in 2018. ms holmes has appealed against her sentence. later today, we'll find out how the indian economy performed in the first 3 months of the year. it's predicted to have expanded around 6 percent. this is significantly higher than china whose first quarter growth came in at 4.5%. and last month, india overtook it as the world's most populous nation. so is the indian economy the new star performer in the region? priyanka kishore of ima asia told me india's growth is tapering. on the whole india is in the middle of growth moderation you are going from 9% growth in the last fiscal year to about 7% this is fiscal year and by 2024 we will see that come down to

6%. so as we look away from the noisy quarters, there is a broader moderation going on. why are we seeing such strong growth out of india? other big economies are facing a recession.— economies are facing a recession. and he is also benefiting _ recession. and he is also benefiting from - recession. and he is also benefiting from the - benefiting from the geopolitics. we are seeing more manufacturing interest in india coming through as companies more and more question their china operations with everything going on and we are seeing a massive pick—up and spending on infrastructure side. that is creating a more supportive growth environment as opposed to some of these other economies and also india is not as depended on export manufacturing in this point in the springtime which plays in its favour. we the springtime which plays in its favour-— the springtime which plays in its favour. ~ ., its favour. we were looking at a coule its favour. we were looking at a coume of — its favour. we were looking at a coume of big _ its favour. we were looking at a couple of big developments| its favour. we were looking at l a couple of big developments in the tech front there, apple for example has opened its first store, the supplier of apple is building a big factory, has of the changed in india to bring this to light?—

the changed in india to bring this to light? one of the push factors is _ this to light? one of the push factors is that _ this to light? one of the push factors is that you _ this to light? one of the push factors is that you are - this to light? one of the push factors is that you are forcing | factors is that you are forcing these out of china because of supply chain issues domestic policies and developments in china and india is the terms of the market size in the population and complementing matters after a long period of time in india you do have a government that is promoting manufacturing supporting policy. so i think it is the two coming together. does africa need to rethink its relationship with business? that's the view of one of the continents leading economists and philanthropists, tony elumelu. he's promoting what he calls "africapitalism", the idea that the private sector can transform africa's economy and society for the better. let's take a listen. investing in critical sectors

of the african economy. that will help us ultimately to drive economic prosperity and improvement. investment in power, when you invest in power in africa in order of profitability it is more about creating prosperity and uplifting africa to go with electricity. the people who we support the young entrepreneurs i said to them, tell me how your business can help create prosperity for you and prosperity for you and prosperity for you and prosperity for society. just one of the eligibility criteria that we use. so because we just want to bring it into the subconscious —— subconscience into note that is just not about you succeeding it is about you succeeding it is about you succeeding in business that uplifts everyone. you, your business, communities

you are involved with in everyone. because that is how we can help develop africa. and that's it for this edition of asia business report. keep up with the latest by visiting our website. thanks for watching. rehearsals in the hall at eyke primary school. children aged 6 to 11 are practising amovolovolo, a zulu dowry song.

they offer a unique music programme here. it goes beyond the required government's one—hour—a—week music lesson. they have specialist music teachers, voice coaches and all children learn a musical instrument. this all does come at a cost. and with inflation rising and school budgets being cut, the school can't continue to deliver their music programme. we can't afford it, i think, is the honest answer. and that's why we're now having to move to establish a charity, so that we can access funding in other ways. teachers at the school are running 86 miles to raise money to start the charity. by creating the charity, the hope is more rural primary school halls will be filled with the sound of music.

hey i'mjulia with the catch up! tonight — the latest in ukraine, ai concerns, and peaty opens up to the bbc. but first the government is trying to stop under—18s getting hold of vapes. they're set to close a loophole that allows shops to give them to children forfree. they're also thinking about banning nicotine—free vapes for under 18s, as well as harsher consequences for retailers breaking the law. a survey found that 11% of 11—to—17—year—olds have tried vaping. last week, these pupils told us how easy it is to buy them. you can walk in, ask them what flavour you want, they pass it to you, you give them their money, you walk back out — simple. responding to drone attacks on moscow, russian president vladimir putin has pointed the finger at ukraine, but they've denied any direct involvement. it's after four people were killed in russian strikes on ukraine overnight. artificial intelligence could lead to the extinction of humanity — that's the warning from experts, including the boss behind chatgpt.

the centre for al safety compares the risk to "pandemics and nuclear war". but others say it's an exaggeration. and olympic swimmer adam peaty has opened up about his mental health struggles to the bbc. the three—time gold medallist said winning a gold medal won't make you happy. on this endless search for a gold medal or a world record, if we do get that, record, if we do get that, is my life fixed is my life fixed or is my life any better? or is my life any better? no. no. and we'll leave you with 10 and we'll leave you with 10 seconds of a bear in a car. police in nevada carefully seconds of a bear in a car. tied a rope to the door handle to free the animal, from a distance. the bear was fine, but we're the bear was fine, but we're not as sure about the car. you're all caught up not as sure about the car. now — see you!