World Business Report

The company TSMC is riding the artificial intelligence investment wave all the way to the bank, as profits surge at the Taiwanese advanced chip manufacturer.

World Business Express - Finance, economy and business news from BBC journalists around the world.

New York becomes the first US state to impose a moratorium on building large-scale data centres.

The measure, announced by New York's Governor Kathy Horchul, applies to all centres using 50MW or more of power and will remain in force for a year. We hear what the moratorium might mean for business.

The announcement comes hours after Australia's prime minister Anthony Albanese announces tougher rules for companies wanting to build data centres there.

Elsewhere, the removal of a border fence separating southern Spain from the British Overseas Territory of Gibraltar puts an end to border controls that have been in place for 118 years. And our correspondent Anna Holligan looks at Europe's largest freight port in Rotterdam, which is under pressure to be greener.

Chinese GDP growth slowed to 4.3% but success in electric vehicles and EV batteries boosted export earnings. We also head to Gibraltar where citizens and businesses of "The Rock" and Spain cheer the end of passport checks on the frontier border following the post-Brexit agreement between Spain and the UK.

World Business Express - Finance, economy and business news from BBC journalists around the world. The stories that matter: World Business Express brings you the essentials on the fast-changing global economy. What forces are driving the markets and industry? Hear unique insight from top CEOs, investors, economic thinkers and small business bosses.

Big banks, big profits...We're looking at the handsome results posted by five big US banks today.

We'll also look at threats to wheat exports in both Russia and the United States

And why is American beef so pricey at the moment?

(Picture: Close-up of benjamin franklin on scattered one hundred dollar bills. Credit: Getty Images)

US banks see supersized profits as dealmaking streak continues, but will US households feel any richer after inflation data showed gasoline prices at the forecourt eased for drivers. Video conferencing app Zoom has predicted a three-day working week as AI boosts worker productivity...but do bosses agree? And what will the fallout be for Paramount and Warner Brothers after their media mega-deal hit a regulatory roadblock?

Twelve US states sue Paramount Skydance over its planned takeover of Warner Brothers. We hear from California's attorney general Rob Bonta who's leading the charge against that proposed 81 billion dollar Hollywood merger.

Plus, South Africa's biggest diamond mine pauses production for two years. Find out why?

And what would you pay for a bit of trash from Taylor Swift's wedding?

(Picture: California Attorney General Rob Bonta holds a press conference next to the iconic Hollywood sign, in Los Angeles. Credit: Reuters)

One man's trash is another man's treasure, but would you pay $25 for a cube of rubbish collected outside Madison Square Garden where Taylor Swift and Travis Kelce were married? The Strait of Hormuz is effectively closed, with BBC Verify finding that only a handful on vessels crossed the body of water in the last 24 hours after tensions increased between Iran and the US. Also, we head to Delhi were new electric vehicle policies aimed at cleaning the air have been criticised by rickshaw and moped drivers. World Business Express - Finance, economy and business news from BBC journalists around the world.

Tough times for the gaming industry after news of more lay-offs, this time at Microsoft's Xbox gaming division, Will Bain asks developers and designers if it's all doom and gloom, and what challenges like ahead.

A Ryanair passenger was partially sucked out of a Boeing 737 on a flight from Greece to Germany, after a cabin window shattered. Authorities are investigating the cause.

The European low cost carrier Easyjet is set to become part of a bidding war between two US based private equity firms.

And a heatwave in central Europe has farmers in Switzerland worried.

Volkswagen, whose 10 brands range from Seat to Porsche, is making sweeping production cuts in Germany. We take a look at the impact this is having on the automotive industry in the country.

A row over Peking duck is adding to already tense relations between Brussels and Beijing. The European Commission has opened an investigation into whether Chinese duck meat is being sold in Europe at unfairly low prices. We take a look at the wider dispute.

And since the United States imposed a near total fuel blockage on Cuba six months ago, the island's food crisis is deepening.

Presenter: Leanna Byrne