elon musk rebrands twitter and his focus has now shifted to building it into an everything app. packed stadiums and high viewership for the fifa women's world cup tournament. but can this translate into lasting returns? welcome to asia business report. it's official. elon musk has killed off twitter�*s recognisable bird logo with an x. it's a bit to rebrand the platform and advertising revenue continues to flounder, and under its new identity, a post will also be called an x rather than a tweet. the rebranding could be part of a push to make twitter into a super app.

twitter is reborn as x, it is the latest big change since elon musk bought the social media platform for $41; billion last year and at the weekend, he said he was ditching the famous blue bird and changing the logo of twitter to an x. the ceo addressed the rebranding in he claimed usage was an she claimed usage was an all—time high and they should not share any specific metrics. and as to what x might look like in changes in audio, payments and banking. it's no secret that elon musk wants to transform twitter into a super app, similar to chinese and indonesian social media platforms.

these apps let people send and receive payments and content, and access things like food deliveries. but do the us and consumers wanta superapp? they already have easy access to other things, but to them traffic and revenue is down and it's now got a smaller workforce to pull off such a transformation. not one to shy away from hyperbole, elon musk believes, if done right, x could become half the financial global system of success. a big week for big tech. microsoft and alphabet also due to report earnings and when it comes as a time for both tech giants are making inroads

in the artificial intelligence and making plans to start charging for them. i spoke to peter maguire talking about the appeal of such a business model. it will be interesting, the ai modeljet fuel rally has pushed nasdaq over the last six or seven months.— nasdaq over the last six or seven months. , ., , , ., seven months. investors seem to have like the — seven months. investors seem to have like the announcement - seven months. investors seem to have like the announcement of. have like the announcement of their subscription model, but could there be fatigue? certainly could be, it's early days, and as you say you have to talk about the fatigue that comes in normally after eight or 12 months, and then competition forces determine what is real value. wejust have to work so that, and that is all about the future. at the moment, it has certainly been hotly contested, it's a competitive landscape. you mentioned _ competitive landscape. you mentioned the _ competitive landscape. you mentioned the competition. google parent alphabet announcing its version. apple wanting to come up with its own

chatgpt as well. and chinese companies as well. who has the advantage? is it still microsoft or open ai? absolutely, at the moment microsoft is a clear winner, and it has rapid integration into the marketplace, it's a long way in front. but i feel in some ways the competition is closing the gap. but it will take time. it's going to be a fascinating 6—9 months ahead as the other competitors join the ranks and see who is going to have the best product moving forward. ~ . ., have the best product moving forward. . . , forward. what about concerns over misinformation - forward. what about concerns over misinformation and - forward. what about concerns over misinformation and so i forward. what about concerns l over misinformation and so on? do you think the tech giants are doing enough to address them? . �* , . are doing enough to address them? . �*, . . are doing enough to address them? . �*, ., ., ., are doing enough to address them? ., �*, ., ., ., ., them? that's a hard one to determine. _ them? that's a hard one to determine. everyone - them? that's a hard one to determine. everyone has i them? that's a hard one to| determine. everyone has an opinion on it. it seems to be the course of events. i'm not sure who's going to be correct and who's not going to be

correct. that the open debate with a system like ai, intelligence going into it. going to be a fascinating outcome. going to be a fascinating outcome-— going to be a fascinating outcome. ~ ., ~ ., , going to be a fascinating outcome. ~ . ~ outcome. meanwhile adidas said its second-quarter _ outcome. meanwhile adidas said its second-quarter operating - its second—quarter operating profit slipped 55%, but the sale of its inventory of kanye west's product in may will help to post a lower annual loss than expected. adidas ended its partnership with mr west last year and in turn wrapped up the production of the successful yeezy line. ubs has been ordered to pay almost $390 million over credit suisse's dealing with a private investment firm. ubs officially took over the troubled swiss bank last year inheriting its legal issues. credit suisse lost over $5 billion when the investments i'm defaulted in

2021. gdp in south korea grew half a percent on a quarterly basis last year and that could have an impact on how the bank of korea moves when it meets next month. it was one of those in asia who aggressively hike to borrowing costs starting from 2021. earlier, i spoke to an oxford economist to explain how the latest data could influence the central bank. it is possible the bank of korea will be one of those that aggressively raised interest rates and cuts back, but we don't think it's going to be just yet, especially given they are an inflation targeting back, and even though inflation has been coming off, it is still above the 2% target, and i think the last one was 2.7%, but it has been declining... figs but it has been declining... as ou but it has been declining... as you mentioned, inflation still at 2.7%, close to the 2% target but still not there yet, so why

not wait until they actually managed to hit the 2% target? it's a tricky decision. the fact is they stopped raising rates when inflation was above 4%, which was double the target, and the textbook says that if an inflation targeting bank, and inflation is more than double the target, you raise interest rates. but they have come to the conclusion that the balance of risks has shifted. while they did want to curtail inflation, and inflationary expectations had to be kept in check, which i think they have succeeded in doing, the balance of risk now shifts to concerns about growth and what that means for the banking sector etc. so i think they are going to cut rates, it's just a question of when. the next meeting, a month away, a lot can happen in a month, but as matters stand today, we think that might be a bit too early, but probably by the next meeting, cuts are very much in play. meeting, cuts are very much in .la , �* ,, meeting, cuts are very much in play. apple has found itself

the target _ play. apple has found itself the target of _ play. apple has found itself the target of a _ play. apple has found itself the target of a $1— play. apple has found itself the target of a $1 billion - the target of a $1 billion lawsuit brought by more than 1000 app developers in the uk, over its app sorties. the company charges commission of 15-30% company charges commission of 15—30% for use of an in app fees, the claim is that it is excessive. it is worth $20 billion per quarter. the second week of the fifa world cup tournament is under way. co—hosted by new zealand, the event has seen sell—out stadiums and two billion people around the world were expected to watch it on television. this is the sydney football stadium. but last thursday, when the matildas took to the field, they couldn't play here, they had to play at another stadium on the outskirts of town because demand for tickets was so strong. 76,000 people turned up to watch them, and at home, almost five million australians, a fifth of the population, tuned in to watch. but it's notjust for the home team.

france and jamaica played here on sunday night, and the stadium was full then too. so the question is, with this level of interest, can it be converted to real financial gains for the local league? if you go to a match, it is... nick garcia is the commissioner of the a—league, the national you soccer league of australia. soccer league of australia. he says despite this growth, the women's game doesn't yet break even. i think in the women's game, it is about investing for the future. the losses aren't dramatic. and i think it will be interesting to see how teams really capitalise on this women's world cup. you've only got to look at the euros in england recently, and the 80,000 they packed wembley out with for the women's fa cup final. so i think it's a real mark, and you would really look at the women's game globally, it is an investment for the future. i think it's really important that club owners see it that way. it's not a cost centre, it's an investment, and i'm 100% sure it will pay off. and there's a hope that this world cup will generate those investments and leave a lasting legacy at both

the professional level and the grassroots as well. katie silver, bbc news, sydney. you can read a lot more about the latest action from the tournament on the bbc website, so check that out. luxury giant lvmh will sponsor the next olympic games in paris, and not just any sponsor but a premium one. lvmh said the band will play a role by sharing its creativity and craftsmanship throughout the games. the terms of the deal haven't been disclosed but it's of the deal haven't been disclosed but its expected to be worth $160 million. that is it for the programme, thank you so much for watching the show. bbc news — bringing you different stories from across the uk.

this is vinnie from cardiff, a former drug dealer who was hooked on heroin from the age of 1a. he also took pills, but not the real ones from the doctor, fake ones he bought on the street and online. the drugs are sedatives, you might know them by their names valium, diazepam and xanax. and there are concerns that people increasingly buy them on loan thinking they are getting legitimate pharmaceutical products. the latest figures suggest they were 61 drug deaths in wales involving these drugs in 2021, up from 35 in 2020. it is something that drugs charities are concerned about. , ., , ., about. the problem with all these drugs, _ about. the problem with all these drugs, they _ about. the problem with all these drugs, they are - about. the problem with all these drugs, they are not i about. the problem with all. these drugs, they are not real. testing in this lab by public health wales has found many drugs bought online are often not what they claim to be. in the last year, two out of every five samples tested contain something different to what they were sold as. vinnie has

now turned his life around and has been clear of drugs for five years. he hopes by speaking out he can make more people realise the dangers of drugs, and buying them online. a bbc investigation looked into how drug dealers could be using social media to groom and exploit children. they make shoulder to the, children's commissionerfor shoulder to the, children's commissioner for england, shoulder to the, children's commissionerfor england, says commissioner for england, says it commissionerfor england, says it confirms what children tell her about not feeling safe on social media. snap trap, is your child safe, is available. there is support on the website. wildfires continue to sweep across parts of europe, with some countries facing their worst fire seasons so

far. 10,000 british tourists are on the greek island of rhodes, where many holiday—makers have been forced to evacuate and moved to shelters. airlinesjet to evacuate and moved to shelters. airlines jet two and easyjet are planning flights to bring people back to the uk. twitter has changed its brand and logo, swapping out the famous bluebird for an x. the only elon musk says tweets will now be known as xes. it hasn't appeared on the mobile app yet. the barbie movie and the oppenheimer movie took £30 million over the opening weekend in cinemas. in north america, barbie broke the opening weekend record for a female director, bringing in 155 million us dollars. we will leave you with ten seconds of snakes on a train. passengers

on a train from skipton to leeds were shocked to find a five foot snake roaming around in their carriage. the harmless corn snake, which has been named noodles, was collected by the rspca and taken to specialists. see you. hello and welcome to sportsday.

saudi arabian side al hilal offer a world record transfer fee for kylian mbappe. brazil strike fast and early as zaneratto adds to a borges hat—trick in their 4—0 thumping of panama. and starting new lives in australia — we catch up with players from the afghan national women's team. hello and welcome along to sportsday, where we start with the news that saudi arabian side al hilal have been given permission to talk to kylian mbappe, after reportedly making a world record bid of over $330 million for the paris saint—germain forward. the 24—year—old france captain only has a year remaining on his contract, and french

footballjournalist robin biner thinks it may happen.