we will star with news from disney. "we have turned the corner!" that's the message to investors from disney boss bob iger — as the entertainment giant raised its profit forecasts for the year — and revealed its film and tv streaming business has turned a profit for the first time. disney launched its disney plus service back in 2019 to compete with netflix and adapt to the changing way we get our entertainment. it has been losing money since then. disney promised wall street those losses would turn to profits by september — but look at this... disney's entertainment streaming division made a profit of $47 million betweenjanuary and march — that's compared to a huge loss of $587 million this time last year. so — out of the red six months ahead of schedule. michelle fleury in new york is taking a closer look at this for us. this is quite a turnaround,

delivering the profit much earlier than expected?— delivering the profit much earlier than expected? yes, it was a huge surrise, than expected? yes, it was a huge surprise. disney — than expected? yes, it was a huge surprise, disney has _ than expected? yes, it was a huge surprise, disney has been - than expected? yes, it was a huge surprise, disney has been trying i than expected? yes, it was a huge i surprise, disney has been trying to adapt as people ditch cable tv and switch to streaming services and they promised wall street that its streaming business would become profitable by september and here we are, ahead of schedule, because since disney plus launched in 2019 to compete with netflix it had been losing money, but now for the first time disney plus and hulu have turned a profit and executives say the full rate streaming portfolio is on track to become profitable later this year, so you think that would become great news, but if you look at the share price, it is down nearly 10%. this is the thing that got investors, disney gave a more cautious outlook on subscriber growth and they warned that streaming revenue would be a bit

softer next quarter because of additional expenses for things like cricket rights in india. so that put the company, it is good news, but having to play defence a little bit, and we saw the chief executive bob iger analysis that they said all along their path to profitability will not be linear, and they are trying to celebrate this great news, and it is worth remembering is a pretty important milestone, as you echoed by hannah walsh, an analyst in london. it's a great news for disney. it's something they've been looking to achieve for quite some time now. and yeah, i think it does really show a great sign for disney's entertainment streaming platform. it is worth noting, though, that when you combine the entertainment streaming services with its sports streaming services, the streaming business of disney did still see a loss in this quarter. the parks business has seen a great growth domestically,

but also internationally with the hong kong park as well. and they did indicate that there's going to be some slowdown, but also they said there was going to be some slowdown in terms of subscriber growth for disney plus in disney's third quarter of the year as that growth starts to slow. that's really the side of the business that investors are keeping an eye on at the moment. and that's probably largely the reason why we saw that kind of declining rate. this comes off the backdrop of the bitter proxy fight where the leadership of ceo bob iger was being challenged and there was a question about where i they were not as profitable as netflix but this will answer some of those questions —— about why they were not. although on wall street, they are not quite reflecting that at the moment. michelle, thanks forjoining us.

oil giant bp has reported a slump in profits for the first three months of the year. it made $2.7 billion betweenjanuary and march — that was down 40% on the same period last year. the results will put more pressure on bp's new ceo — who only took over injanuary. part of the slump can be put down to lower oil prices. but as our business editor simonjack explains, arch uk rival shell is doing much better than bp — raising questions for some shareholders about the company's strategy. we are coming out of the back end of the energy crisis that was sparked by russia's invasion of ukraine which saw russian oil and gas supplies either shut off or shunned by many markets which sent prices rocketing. so we're coming down from there. it's very unlikely that the likes of bp will ever make as much money as they did during that 2022 to 2023 period. but what is interesting about the bp numbers, down 45% on lower oil and gas profits, they slightly missed the estimates

that people said they were expecting them to make in profits. whereas shell, a similar company profile, actually exceeded their estimates. this is down to the fact that shell has been unapologetically going hell for leather for more oil and gas production. bp has been less aggressive in that way, saying it's trying to stick to its transition plans. both have weakened them a little bit, but there is some tension between bp and shell shareholders saying, some of them would like the bp strategy to be a bit more like shell's so we'll see where that goes. now to new safety questions facing aircraft giant boeing. regulators in america have opened another investigation — after the firm acknowledged that it might not have carried out proper quality inspections on its 787 dreamliner aircraft. it comes on top of a probe launched earlier this year into the safety of its 737 max planes, after a door panel blew on one of the jets blew out shortly after take—off. leadership expert chris roebuck told us it's another example of boeing's problematic corporate culture.

you know, something happens at boeing and you just think, i mean, this has been going on for six years now. you just think it can't get 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 mind blowingly worrying. now boeing say ok, we've checked all the ones on the production line. yeah, but what about the ones that have left the production line and are out there? it's just so many leadership and culture failures over the last six years have created so many really, really stunning safety problems. here, the shadow chancellor rachel reeves — who's hoping to take over as finance minister in this year's general election — has accused the government of "gaslighting" the british people

over the state of the economy. in a speech to 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 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? in other news.... swiss banking giant ubs has made its first quarterly profit since it rescued struggling

credit suisse last year. it made $1.8 billion betweenjanuary and march — following two quarters of steep losses. nintendo has posted record profits thanks to the weak yen. but it but warns earnings will slump nearly 40% this year. the video games giant says it will reveal a successor to the hit nintendo switch console later this year. first—time buyers and homeowners looking to remortgage in the uk are still facing a "significant challenge" — according to the lender halifax. mortgage rates have been on the rise again on expectations the bank of england will make fewer interest rate cuts this year. halifax says the average uk house price was up 0.1% in april, with a typical home now valued atjust under £289,000. when britain left the european union, the government said food and drink exporters had a �*golden opportunity�* to put british food at the �*top of the global menu'.

but the reality is that uk food is still lagging behind its european counterparts, both in terms of sales and reputation. we sent our business reporter nick marsh to asia's leading food and drink trade show in singapore to find out why. hungry? well, you're in the right place. i'm in one of asia's food meccas, but on display is a who's who of european cuisine. and they're ready to battle it out. bite for bites. as incomes start to rise, as tastes broaden and travel becomes more common, it's an opportunity for governments not only to sell their products, but also to promote an ideal image of their country. do you think of anything in particular when you think of food from britain? sausage, i don't know. quite boring, actually. not so special. but these cheese exporters are here to fly the flag for british gastronomy.

it's a massive job educating people because, you know, j the french and the swiss and the italians have - been doing it a lot longer- than we have and parmesan has been around forever. so we've come in sort of fairly late. - so we're having to get that message across. i and this is what they're up against... so for italy, selling food to asia isn'tjust vital for its economy. it's basically a form of diplomacy. they're foodies, they love their food, they love their tradition. it's something we have in common and that makes it easier to spread also, the italian culinary tradition around the world. thank you. after brexit, uk exporters were promised new markets. very good. you did say it was good. this is grass fed 100% british beef.

and these are the people that british producers are betting on. they want them to know, firstly, that this meat exists and they're hoping, secondly, that they'll like it and eventually, above all, that they're going to buy it. the reality is that exports to asia only represents a fraction of what britain sells to the european union. the uk government told the bbc that it has hosted events at trade shows in the region to try and drive demand for british food. but the suppliers, well, they don't receive any grants to attend these events in the first place. unlike other countries, they had to pay out of their own pocketjust to be here. which makes it very difficult to stand out against the other european groups or other world groups that are almost fully funded by government. this is your vr cheese experience? would you like to try? to keep up, british producers are having to get creative to spread the word, which i enjoyed firsthand. i'm just cleaning the udder of a cow! i'm grating the cheese onto the noodles. but building a reputation doesn't come overnight. many are still finding their way.

nick marsh, bbc news, singapore. that is the business today. stay with us here on bbc news.

let's return to the middle east — where aid agencies say the closing of the two main crossings into southern gaza makes it virtually impossible to assist civilians there. the united nations says israel is not allowing humanitarian workers access to the rafah crossing, after taking control of the gaza side of the border with egypt. let's speak to doctor nick maynard, senior surgeon at oxford university hospital who was one of the last to leave rafah yesterday. thanks forjoining us. what was a

situation like as you left rafah? it was terrible, to be honest, it was chaotic, we were surrounded by farms going off around us, we heard gunfire from any direction throw —— bombs. there was uncertainty as to whether we were going to get out or not and it was only at the last moment that we found out we were going to get out and got through to the egyptian side of the border but even then we could still hear the vast noise of the bombs going off and the buildings were shaking even on the egyptian side. and of course there were only a few hours after that that the ground forces invaded the crossing. you that that the ground forces invaded the crossing-— the crossing. you are talking about ourself the crossing. you are talking about yourself and _ the crossing. you are talking about yourself and other _ the crossing. you are talking about yourself and other medical - the crossing. you are talking about yourself and other medical staff? l yourself and other medical staff? yes, i had been out in gaza with a small group from medical aid for palestinians, a charity i came into gaza with, we were due to leave

yesterday anyway and there were eight doctors in our