we begin in the us, where the troubles facing boeing have become even more serious. the us air safety regulator has opened a new investigation into the aircraft maker after boeing acknowledged that it might not have carried out proper quality inspections on its 787 dreamliner aircraft. it follows another probe earlier this year into the safety of its 737 max planes, one of which suffered a mid flight incident in which part of the wall of the plane blew out. from new york, the bbc�*s michelle fleury has more. boeing's work is once again in the spotlight. america's air safety regulator, the federal aviation authority has opened a new investigation into boeing after the company came forward and said some employees had committed misconduct by claiming certain tests had been completed when in fact they hadn't. the faa is investigating whether boeing completed inspections to confirm adequate bonding and grounding where they wings join

the main body of the plane on certain 787 dreamliner aircraft. bonding and grounding is vital on a plane because it prevents static build—up, think of it as electrical safeguards. boeing credited a south carolina worker who saw something they felt was wrong on the production line and came forward and reported it. cutting corners at work is something that many of us may have been guilty of at various times in our lives. but given the frequency with which quality control issues keep coming up at boeing, the airline has a long way to go to regain the trust of the flying public, its customers, the airlines as well as lawmakers. lets ta ke lets take you to france where the chinese president is meeting with the french president. they are in the french president. they are in the nice airport. it's like break in

normal protocol, what is happening is that president emmanuel macron is taking the chinese president to the birthplace of his grandmother and he is doing so, his advisers say, because the can have direct one—on—one chats away from perhaps some of the scrutiny of a more formal visit. we understand one of the main objectives of this visit is to try and ease tensions between the west and china. it is a difficult relationship. one that is largely dominated by trade. so many countries around the world relying on china as the workshop of the world and particularly for its technology exports. there have been growing tensions on a number of serious geopolitical issues. it all revolves around trade, the trade imbalance between the two countries. what emmanuel macron is hoping for is a better dealfor what emmanuel macron is hoping for is a better deal for european what emmanuel macron is hoping for is a better dealfor european but notably french companies dealing with china. the chinese president is keen to reiterate the importance of

the bilateral links between the two countries. some of the formalities here before they make their way away from the site of cameras to have those talks. it is an important moment as the two men meet, it is the second day of the xi jinping trip, there haven't been no big announcements, no news on the economic policies, no new trade deals between the two. one of the main objectives here is to try and reduce the trade imbalance between china and european companies. we will keep you right up to date with any developments that emerge from those talks. let's return to our top story about boeing. let's speak now to the business leadership expert chris roebuck from the ucl school of management. michelle was explaining the latest edges for boeing. it's really serious, this, isn't it? i

edges for boeing. it's really serious, this, isn't it? i don't know why — serious, this, isn't it? i don't know why am _ serious, this, isn't it? i don't know why am laughing. - serious, this, isn't it? i don't know why am laughing. i - serious, this, isn't it? i don't. know why am laughing. i don't serious, this, isn't it? i don't- know why am laughing. i don't know what to say. something happens at boeing and you just think, i mean, this has been going on for six years now. you just think it cannot get any worse. but they managed to come up any worse. but they managed to come up with something that is worse. the fact that records might have been altered on the process recording of quality for aeroplanes, the 787, is mine glowingly worrying. boeing say, ok, we have checked all the ones on the production line, yes, but what about the ones that have left the production line and are out there? it isjust so production line and are out there? it is just so many leadership and culture failure is over the last six years have created so many really, really stunning safety problems. if really stunning safety problems. if this was any other industry, they would be looking at their viability

given the disastrous issues that have unfolded. but the industry cannot afford to let boeing fail, it's airbus, boeing and a couple of other players, it is a market in which it is so dominant, it cannot afford to fail.— afford to fail. you are right, in terms of _ afford to fail. you are right, in terms of aircraft _ afford to fail. you are right, in terms of aircraft suppliers, - afford to fail. you are right, in terms of aircraft suppliers, it | afford to fail. you are right, in | terms of aircraft suppliers, it is afford to fail. you are right, in i terms of aircraft suppliers, it is a limited market with a limited number of suppliers. also, the problem as it is a safety critical industry. you want to make sure the aeroplane you are sitting on does not have loose bolts or wings that have been stuck together properly or where the boeing workers were jumping up and down to make sure they fitted. somebody needs to get a grip of this. it looks like obviously the faa are involved, the us government are involved, but all the time, we keep getting boeing saying don't worry, nothing to see here, it's under control. the problem is boeing started refuting the focus on quality about 20 years ago, and fundamentally, the message that has

come down from the leadership to the employees over that period of time, they say, safety is the most important to the public. but in reality, it is get the aeroplanes out as fast as possible, get the money and as fast as possible, and if it says, ok, so be it. that is not the way ethical and leaders with integrity in the aircraft industry should be demonstrating an example. will talk about this again, there is a lot to fit in for the show, grateful for your time this morning, thank you very much for the latest in what is happening at boeing. let's turn our attention now to oil. two giants of the industry, bp and saudi aramco have released their latest quarterly results, showing a fall in profits as lower oil prices affect revenue. bp profits are down 45% in the first quarter compared to the same period last year. underlying replacement cost profit was $2.72bn compared to $4.9 billion this time last year. saudia arabia's state oil company saudi aramco for its part saw its profits down 14% compared to the same period last year.

now, both saudi aramco and bp posted record profits this time last year. let's speak now to our business editor simonjack. it tells us we are coming out of the back end of the energy crisis sparked by the invasion of ukraine by russia oil and gas supplies short of or shunned by many markets which sent prices rocketing. we are coming down from there. i think it's very unlikely that the likes of bp will ever make as much money during the dead during that 2022, 2023 period. what is interesting about the bp numbers, down 45%, this likely miss the estimates that people said they were expecting them to make profit. where as shell, similar company profile, exceeded their efforts. they have been unapologetically going hell for leather for more oil

and gas production. bp has been less aggressive in that way, trying to trick to its transition plans, both as we condemn a little bet but there is tension between bp and shell shareholder saying they would like the bp strategy to be more like shell. ,., ., the bp strategy to be more like shell. ., ., ~ ., ., shell. good to talk to you, our business editor. _ in the uk, the shadow chancellor rachel reeves — who's hoping to take over as finance minister in this year's general election — has been giving a speech in which she accuses the government of "gaslighting" the british people over the state of the economy. speaking to a room full of business leaders, she said the government's claims that their economic plan is working are "deluded". they say we have turned a corner. but try telling that to the 6.4 million households across england and wales last year who saw their rent increase or who had to remortgage. or the 950,000 families whose mortgage deal is due to expire between now and january next year. they say that the plan is working.

is this the same plan that has meant that this is forecast to be the first parliament on record with living standards at the end lower than they were at the start? the speech comes ahead of key figures likely to show the uk emerging from recession later this week. the bank of england could also take steps towards interest rate cuts. let's speak now to mike coop, from morningstar investment management. good to help you with us. rachel reeves is critical of the government was not handling of the economy, they are in pre—election though, aren't they? figs they are in pre-election though, aren't they?— they are in pre-election though, aren'tthe ? a ~, ,. ,, ., aren't they? as with any discussion on the economy. — aren't they? as with any discussion on the economy, it _ aren't they? as with any discussion on the economy, it is _ aren't they? as with any discussion on the economy, it is worthwhile i on the economy, it is worthwhile separating out the things that are within the control of the politicians from those that will happen anyway. when we talk about conditions and what is going to happen, we should be humble about

recognising that there are always shops that have happened. the state of play now is actually quite surprising for what already was expected by people. the comments that were being made about inflation and growth are a response to the narrative put forward by the government. in this, we have to be clear that many of the things they talked about were going to happen anyway. the inflation dropping was pretty predictable as the impact of the russian war weaned on the part of gas, and that flow through into the cost of living, the economy, growth, we had a big interest rate increase because of the inflation shock, that has had an effect on weakening growth. that's been a better outcome than people were expecting one year ago when people were forecasting a recession. that is the backdrop. it is worthwhile bearing in mind when you think about

what will happen going forward, and the difference between who is in office. ., , ., , office. the government will probably be cursin: office. the government will probably be cursing the _ office. the government will probably be cursing the timing _ office. the government will probably be cursing the timing of— office. the government will probably be cursing the timing of all- office. the government will probably be cursing the timing of all of- office. the government will probably be cursing the timing of all of this i be cursing the timing of all of this because they have to have an election before january next year, but if they had a little back longer, we might start to feel better off as interest rates come down, inflation starts to ease. but we might feel worse off at the election. , election. the underlining drivers have not really _ election. the underlining drivers have not really changed - election. the underlining drivers have not really changed of - election. the underlining drivers have not really changed of the i have not really changed of the economy even though the big surge in inflation has come off. we going to going to continue to have higher interest rates than we used to, and the government choices are hemmed in by it large amount of deficit and high tax. so in terms of thinking about going forward, the real issue is probably going to be whatever administration is, how they deal with the global shifts, international trading, decarbonisation. for assets and people who own assets in the uk, it

is also a case of whether there will be more certainty of policy and whether that will actually benefit uk assets because they will not be as much of a uncertainty.— uk assets because they will not be as much of a uncertainty. thank you ve much as much of a uncertainty. thank you very much for— as much of a uncertainty. thank you very much for talking _ as much of a uncertainty. thank you very much for talking to _ as much of a uncertainty. thank you very much for talking to us. - now, before we go — some news about us. after more than 30 years, we're saying goodbye to �*world business report'. it's had a few different looks — this one from the late 1990s. it looked like this until 2007 when a new look arrived and everything went blue. and then came the spiky globe in 2013. but it's time for a new look — and a new name. �*business today�* is what we'll be called from later today. all you need to know about money, markets, and finance, tech, travel and trade. that's �*business today'. here on bbc news. but for now, for one final time, from me, and the team, you've been watching world business report.

hello from the bbc sport centre. erik ten hag insists he's

the right man to turn around the fortunes of manchester united despite watching his side get thrashed four nil by crystal palace in the premier league. the result leaves them 8th and in danger of missing out on european competition next season. i prepare the team in the best way i can, and we have many problems, so the only focus i have — to perform better with my team. so just finally, tonight doesn't add to any concern for yourself about your position? i don't think about this — that is, i think only about making my team better, and it's necessary because we are underperforming. the first finalists in this season champions league will be decided later when paris st germain host dortmund. the german side take a one nil lead into the second leg.... european football expert says the pressure is on the home side. lets to back pressure is on the home side. lets go back to — pressure is on the home side. lets go back to the _ pressure is on the home side. lets go back to the start of the group

stage, these two played each other on the group stage, the