in china, as it grapples with an ageing population. we'll have more from the imf�*s asia—pacific boss ahead. hello and welcome to asia business report. i'm steve lai. to our top story today — binance founder changpeng zhao was sentenced to four months in prison after pleading guilty to money laundering charges last november. north america business correspondent michelle fleury explains. sam bankman—fried isn't the only poster boy for crib go facing a reckoning. his rival, ceo of binance, changpeng zhao, has been given four months in jail. back in november, he was

—— pleaded guilty to one count of violating the bank's secrecy act, resolving a multi— investigation by the us government into the well�*s largest cryptocurrency exchange, binance. as part of that agreement he also stepped down as ceo. the founder apologised to the court in seattle, saying his company had now put in place anti— money laundering controls. it was watched by his mother and sister who were in court as he learned his fate. the sentence was considerably shorter than the three years prosecutors were demanding and less than the 12-18 were demanding and less than the 12—18 months recommended underfederal the 12—18 months recommended under federal guidelines. the 12—18 months recommended underfederal guidelines. once under federal guidelines. once considered the underfederal guidelines. once considered the most powerful person in the crypto industry, he is the second major crypto boss to be sentenced to prison. in march, sam bankman—fried received 25 years behind bars for stealing $8 billion from customers of his now bankrupt ftx exchange. unlike ftx, binance is still the biggest cryptocurrency exchange in the

world and changpeng zhao has his eye on the future. we recently announced plans to have an online profit education platform. in other news, mcdonald's reported a weaker than expected quarterly profit as consumers cut back on their spending. globalsales as consumers cut back on their spending. global sales were down 1.9% year over year, that is lower than it increase seen in the first quarter 2023. many first —— of us food restaurants have increased their prices due to increased costs. starbucks has reported a surprise drop in labour challenges will my on

some parts of asia. the international monetary fund is forecasting slower growth. as anthony is ahead. due to an ageing population now. we hear more from the director of the asia—pacific region. iii director of the asia-pacific re . ion. , ., director of the asia-pacific re.ion_ l, director of the asia-pacific reuion. ,, ., ., region. if you look at china, the population _ region. if you look at china, the population is _ region. if you look at china, the population is ageing, i region. if you look at china, | the population is ageing, this was a challenge for china over the medium term. that accounts for why they revise our global forecast. if you move the other way, then you have india, where you have a population is much younger, every year you have significant people working... sa ivet saivet you would mention china their commonality seeking to fix the economic challenges?

demand is pretty weak. that is partly due to what is happening in the property sector. there are several measures to address the property sector. but that said, confidence in the property sector has not come back. what we have been advocating to the government is to put in place policies to address in a straightforward way the property market stress. we have talked about three policies, one, of course,

you have seen the yen moving and the right implications for the currency.— and the right implications for the currency. one thing that i have emphasised _ the currency. one thing that i have emphasised is _ the currency. one thing that i have emphasised is that - the currency. one thing that i i have emphasised is that central banks should look past these and focus more on domestic inflation. they need to look at what is happening in domestic inflation and policy accordingly. speaking of the fed, the us central bank will unveil its policy decision on interest rates tonight. with the latest inflation reading for march at over 3%, higher than the fed's target

of 2%, hopes have dimmed that the cost of borrowing will be lowered at this meeting. and as you've just heard, the international monetary fund is recommending that central banks in asia pay close attention to domestic factors, instead of taking their cue from the us federal reserve. jun bei liu of tribeca investment partners. i think the asian economy should always focus on their own economy for sure but i think unfortunately for the trade today after that, we often follow what is happening globally and if you're looking at here in australia, the rates are not likely to be cut until we see what is happening in the us because of the trade of facts. and looking at the economy, and also keeping an eye on what's happening in china as well. mentioning the strength of the us dollar, how is that impacting us here in asia. it's going to affect the debt

and asia has a very us ——high dominated debt including china's well and if the us interest rate stays higher for longer, that means the us dollar will stay higher for longer and it will put pressure on the economic activity within the region and this is what we worry about, the high us interest rates and if it stays high, the us and other stay strong and putting pressure on it but china's very different beast of the moment because activity is picking up because of stimulus and its own domestic economy and that is fighting its way through it i think the pressure that china does have is being sped up. the us and europe have been going after china for unfairly propping up its car market. some action is expected. the anti—subsidy investigation is wrapping up in the coming weeks and some sort

of actions expected. but annual sales of electric vehicles above a0%, the mood remains optimistic as a china correspondent found out at the beijing auto show. until recently, the idea that electric vehicles would make up a significant portion was something for the future. and then china came along and thrust the future upon us now. it is achieved this with breakneck growth in the industry fuelled by government subsidies and the problem is the americans are saying that china's brand as an unfair advantage on price or being able to flood markets and other countries and rates the local brands cannot compete with and they are threatening to put tariffs on chinese cars to level the playing field. the counter argument to that is at the beginning, you needed having such

subsidies and charging stations to give electric vehicles a significant enough portion of the market to survive into the future and the biggest changes happening in terms of the attitudes of ordinary people — you just had to speak to the would—be customers of this you auto show to see that. translation: in china's big cities, more are choosing electric cars because they are good value for money and for the environment. they have become totally normal and accepted. they have good tech - and they're good to drive. from voice triggered instructions, to the latest flashy on—screen displays, china's electric vehicle industry is showing off what it can do. these charging stations boast 500km or 310 miles of driving afterjust 12

minutes plugged in. factories and the like are goingto need export revenue to make their money back and many will not survive because the competition is just so fierce it at the upside is, they can always fall back on the massive domestic markets the it'll keep going as more as more and more people make the switch away from traditional vehicles. as you can see, all three major indices close in the red. as you can see, all three ma'or indices close in the redi indices close in the red. more business _ indices close in the red. more business news _ indices close in the red. more business news and _ indices close in the red. more business news and the - indices close in the red. more business news and the next l business news and the next hour. bye for now.

hey, i'm zof with the catch up. tonight: protesting continues in the us, a different type of game for haaland and taylor swift classes.

our top story: a 14—year—old boy has been killed and four people have been stabbed in a sword attack in northeast london. the other victims are in hospital but are not thought to have life—threatening injuries. a man has been arrested. police have called it a horrific incident but said it wasn't a targeted attack. next, pro—palestinian protests are continuing at university campuses across the us. demonstrators at columbia uni in new york ramped up their protest by taking over hamilton hall early on tuesday, barricading themselves inside the building. protesters across the country have called for universities to boycott companies and individuals with ties to israel during the war in gaza. some other stories now. one of the world's most popular phone games, clash of clans, has shared a new surprise character. an animated erling haaland will become the barbarian king in the game. the man city star said

he is a long—time fan. i think they got the hair just right, actually. and parents of taylor swift fans who can't tell their bad blood from their blank space are going to be offered help for a class on the pop star. glasgow clyde college said the one—off event will cover taylor songs, her wardrobe and crowd chants at her gigs. time now to leave you with ten seconds of king charles as he's returned to public duties with a visit to a cancer centre in london — his first public engagement since he was diagnosed with the disease in february. and you're all caught up now. see you later. hello and welcome to sportsday. i'm gavin ramjaun.

a thriller between two heavyweights of the champions league as the semi between bayern munich and real madrid finishes honours even. the defending champion survives a scare to reach the madrid open quarter—finals. ronnie o'sullivan comes from behind to draw level with stuart bingham at the world snooker championship. and water sports join together, to call for rivers, lakes and coasts to be cleaned up in the uk. hello there, and welcome along to the programme. bayern munich against real madrid — with the stellar talent on show, promised so much, and their champions league semi—final duly delivered. two of england's big names, in harry kane

and jude bellingham, were facing up on opposite