Secured their biggest pay rise since 1991, giving the central bank the confidence to make its move. One that puts decades of deflation in the rear view mirror. Lets go live to shizuoka in japan and Seijiro Takeshita professor at the univesity of shizuoka. Good to have you on the programme. We knew this was coming, it has happened, give us your reaction. Us your reaction. Well, as you said, it us your reaction. Well, as you said. It was us your reaction. Well, as you said, it was expected us your reaction. Well, as you said, it was expected because of the Pre Requisites were set, basically, 5. 2 increase by Larger Companies, pay rise. We expected only form per sense of that history very well. We have the Inflation Target which is to present a morejust been fulfilled so basically, prerequisites for lifting off from this secure operation of negative Interest Rate is finally here. It negative Interest Rate is finally here. Finally here. It is finally here, finally here. It is finally here. Its finally here. It is finally here, its a finally here. It is finally here, its a very finally here. It is finally i here, its a very important symbolic step forjapan, but what impact we literally have an economy . An economy . Well, its basically an economy . Well, its| basically normalisation, an economy . Well, its basically normalisation, many people might think we have a bracing economy and we dont. Our capped expenditure, expended by the corporations, is still brisk but a lot of it is still brisk but a lot of it is rather a backpedalling, Rationalisation Type of investment, not the type of investment, not the type of investment that brings out multiplier. Private consumption is still very doubtful, whether it will be strong just because of cash income increases. The japanese consumers are very conservative. Under that circumstance i dont think the bank ofjapan is in a position to continue to increase the rate especially considering our debt position. I think it is a good start, but we are not at the same point as the likes of ecb or the fed. In the same point as the likes of ecb or the fed. The same point as the likes of ecb or the fed. In terms of the wane ecb or the fed. In terms of the wage deal. Ecb or the fed. In terms of the wage deal, which ecb or the fed. In terms of the wage deal, which was ecb or the fed. In terms of the wage deal, which was set ecb or the fed. In terms of the wage deal, which was set last| wage deal, which was set last week, quite a significant sum of money that people are earning in some of the Major Companies injapan. The impact that will have . In companies in japan. The impact that will have . That will have . In japan we have what that will have . In japan we have what are that will have . In japan we have what are called that will have . In japan we have what are called the i have what are called the Enterprise Union system, which is union within these companies, so these Larger Companies, so these Larger Companies will show the way for medium and Smaller Companies as well, so obviously they will follow. I think again, the important thing is whether this will be reducing the spending of the individuals. I think it might be difficult, but certainly it is the first time in over two decades while other nations have been rising on their pay. So finally it is here and again, one of the Confirmation Status that we are walking out from this operation a negative Interest Rates. In terms of the industrial shift withinjapan, many look terms of the industrial shift within japan, many look at japan withinjapan, many look at japan now as being behind the curve, with china, taiwan and Silicon Valley and others just progressing extensively and from that Point Of View . Ida. Progressing extensively and from that Point Of View . No, i dont think from that Point Of View . No, i dont think that from that Point Of View . No, i dont think that is from that Point Of View . No, i dont think that is the from that Point Of View . No, i dont think that is the right. Dont think that is the right assessment, because we still excel considerably in areas like process innovation. You look at the companies that are making record high profits, and the fact that nikkei has reached its highest since 1989 also tells you how brisk it many of these companies are doing. We are seeing polarisation but it does mean that we are losing the competitive edge. Of course not seen the growth like we saw in the late 80s early 90s but we are a mature economy now, so the growth is quite different dell were differentiated and i think it is wrong to make the symbol comparison with those others in the Current Situation in japan. Others in the Current Situation injaan. � , others in the Current Situation injaan. �. , others in the Current Situation injaan. �. , others in the Current Situation injaan. � ,. , in japan. Always a pleasure to talk to you. In japan. Always a pleasure to talk to you, thank in japan. Always a pleasure to talk to you, thank you in japan. Always a pleasure to talk to you, thank you for talk to you, thank you for giving us some perspective on this very important day for japan. Speak to you again soon. From japan to china, where there is another twist in the tale about the property giant evergrande. Its founder has been barred from chinas Securities Market after regulators accused the groups Flagship Unit of Securities Fraud, failing to make timely disclosures, and inflating its earnings by around 80 billion. Hui ka yan was once asias second richest man and in charge of one of chinas biggest real estate developers. Joao da silva is following this for us from our Asia Business hub. What is the latest . Well, this is a massive what is the latest . Well, this is a massive fraud what is the latest . Well, this is a massive fraud case is a massive fraud case involving the worlds most indebted property developer. To give you an idea, the financial watchdog, the regular tory commission, found that every grands annual Revenue Figures were inflated by more than 50 in 2019 and nearly 80 in the following year. Evergrande. Much of the blame is laid on the evergrande founder hui ka yan, who was once a chinas richest man and has been banned from the countrys Financial Markets and has been fined 6. 5 million. As for the Flagship Unit, it was fined to the tune of more than 580 million. There are a couple of things worth noting. This comes after chinas financial regulators vowed to crack down on Securities Fraud and protect small investors, so this does indeed send a signal listed companies and in particular to chinas embattled property developers, that sort of accounting issues of fraudulent behaviour will not be tolerated. And of course, it could also signal that mr huis legal problems are about to become much more complicated. Last year he was placed under Police Surveillance or suspected illegal crimes, well, these fines are penalties not criminal charges, which we have yet to hear about. Meanwhile, there is No End In Sight to the downturn in chinas property market, a sector that accounts for around a third of the worlds second largest economy with the latest indicators released just days ago showing significant decline in Property Investment and new construction. Investment and new construction. , ~. , construction. Thank you for tellinu construction. Thank you for telling us construction. Thank you for telling us the construction. Thank you for telling us the latest construction. Thank you for telling us the latest on construction. Thank you forl telling us the latest on that. Nvidia is hogging the headlines again as it dominates the business of Artificial Intelligence. The tech giant unveiled its latest ai chips which the Company Claims are far more powerful than its existing market leading hardware. 0ur north America Business correspondent erin delmore has the details. Nvidia unveiled its new Graphics Processing Unit at a Developers Conference in california on monday. Its called the blackwell, and its meant to build on the successes of the companys existing gpus, which are in demand All Over The World. Nvidia makes powerful chips that are used to develop ai technology, and the blackwell is expected to allow more advanced ai models to be built. Its also expected to be a boon for the tech company, which has ridden ai enthusiasm to the top of the markets. At nvidias Developers Conference in california monday, the companys ceo, jensen huang, called Generative Ai the defining technology of our time. Some of the biggest names in tech are expected to use blackwell gpus, and we expect to see the technology in action later this year. Live now to janet mui, head of Market Analysis at rbc brewin dolphin. Good morning to you. So, nvidia proving to be front and centre when it comes to ai. There was a huge audience there at this Developers Conference that nvidia was hosting in sanjose, california, worldy announcements were made. Good morninu. Announcements were made. Good morning. Thanks announcements were made. Good morning. Thanks for announcements were made. Good morning. Thanks for having announcements were made. emf. Morning. Thanks for having me. Yes, this event has been watched by Financial Markets and Tech Enthusiasts and indeed we heard from jensen huang, the ceo of nvidia by these new powerful chips coming so i think he sensed this is going to colour this new Industrial Revolution so that as of exciting. However, Ithink Revolution so that as of exciting. However, i think a lot has been expected, think the market has been expecting a new chip to be unveiled at this event, and nvidia stock prices rose by about 80 this year alone after trickling last year so i think there is a lot of enthusiasm and expectation baked in, so even after this announcement, the stock price of nvidia has actually fallen by about 1. 5 . I of nvidia has actually fallen by about 1. 5 . Of nvidia has actually fallen by about 1. 5 . I noticed that, stock was by about 1. 5 . I noticed that, stock was sold by about 1. 5 . I noticed that, stock was sold on by about 1. 5 . I noticed that, stock was sold on the by about 1. 5 . I noticed that, stock was sold on the news. By about 1. 5 . I noticed that, | stock was sold on the news as it were, bought on the rumour, but interestingly, the suppliers, the companies it is working with to make this happen, their stocks went up, not surprisingly. What about its rivals . What do they make of thishow will they try and keep up with nvidia . 50. Of thishow will they try and keep up with nvidia . So, the main rival keep up with nvidia . So, the main rival would keep up with nvidia . So, the main rivalwould be keep up with nvidia . So, the| main rival would be advanced micro devices, these companies have been making progress on their ai chips. We can expect more unveiling of new products from competitors very soon, i suspect. And i think in general, industry still thinks nvidia is a couple of generations ahead of its competitors. But i think with technology, these kind of things move at light speed, so you can never say never. But i think nvidia still has a huge market share for al chips at the moment. Market share for al chips at the moment. G. ,. ,. ,. , the moment. 0k, janet, good to talk to yom lets get some of the days other news now. Here in the uk, the labour party will seek to bring about a new chapter in britains economic history, The Shadow Chancellor Will Vow in a speech to business and finance leaders. Rachel reeves will promise to reform the treasury as part of a possible labour governments economic policy. The ruling conservatives have suggested labour had no plan just more borrowing and more taxes. The uk government will establish an independent Football Regulator later today. The legislation will grant powers to a body, independent of both government and football authorities, to oversee clubs in englands top five tiers. The legislation follows a fan led review, which said a regulator was necessary for the long term Financial Stability of the mens professional game after issues including financial mismanagement and plans for a breakaway european super league. Donald trump cannot find a private company to guarantee the 164 million he has been ordered to pay in a new york civil fraud case. The former president must either pay the full amount in cash or secure a bond in order to continue his appeal. He faces the prospect of some of his real estate assets being liquidated unless he pays up. How a water crisis is threatening a city known as the � Silicon Valley� of india. We will have more on that after this. Around the world and across the uk. This is bbc news. Deal with bbc news. Lets carry on with the business coverage. The indian city of bengaluru, home to some of the biggest it companies in the country, is battling an acute Water Shortage after poor rainfall. Ineffective Water Conservation has made matters worse leading to reservoirs drying up. The bbc� s Arunoday Mukharji reports on the current water crisis and how it is affecting the citys world renowned Silicon Valley tag. Residents of Rr Nagar In Bengaluru Waiting for a basic need water, something they should have had easy access to within their homes. Now, both water and peoples patience are running low. Drinking water atms here are in high demand. For less than a dollar, people fill their cans, but its a daily hassle. The glass of water first thing in the morning that so many people take for granted has become a struggle for people over here in some parts of bengaluru. As you can see, this is their daily morning routine lining upjust to get their bottles filled. This is bengalurus main source of water, the kaveri river, but its failed to reach all corners of a rapidly growing city. Made worse by poor rainfall, forcing sections of the city to rely completely on Water Tankers. This neighbourhood of 3,500 residents needs 50 tankers a day, but supply now is down to half. Since they have to go far away and get the water, the cost has got escalated. It is around twice the cost that we are paying right now. Despite authorities putting a 12 cap on prices for Water Tankers in some parts of the city, people say they are charging double or even triple the amount. Authorities say they are working on alternatives to tide over the crisis. We are also depending upon the treated water, which is the main source of water for other, non drinking purposes. That water, we are planning to take to the commercial industry establishment, to that extent that we can reduce the Kaveri Water Consumption by industry and commercial purposes. Bengaluru is the fourth Largest Technology hub in the world after Silicon Valley, boston and london. But its come at a price. The Population Boom swallowing up the citys many lakes, once also a crucial source of water. Were completely reliant on the kaveri water supply. We need to re architect our imaginations of water solutions, and that needs to include rainwater, lake water, aquifer or ground water and treated waste water. This city of 1a million is only going to grow. And if its Civic Infrastructure fails to keep pace, instead of a free flow of water, the it city will be forced to count every last drop. Arunoday mukharji, bbc news, bengaluru. We are always been told never to look up potential Health Symptoms on the internet. But the medical profession is fully embracing tech such as Ai The Medical Profession is fully embracing tech such as alto deliver better patient care in the future. Ai is now being used to keep clinicians routinely updated about patients conditions, identify trends and flag up potential concerns based on an algorithm. And at a Vice President al Software Platform that integrates with the patient� s medical records. Space here in