live from london, this is business today. i'm lukwesa burak. we start with the music industry because live nation — the owner of ticketmaster — is being sued by the us department ofjustice and 30 us states. they want the concert promoter broken up, claiming it has too much power over live music events in the us. that — they say — has led to excessive prices and harmed the interests of artists and fans. live nation has hit back — calling the allegations baseless — saying the do] will lose in court because it ignores the basic economics of live entertainment. from new york, erin delmore reports.

1a years ago, the us government approved the merger with ticketmaster. since then, live nation has grown into a powerhouse, but the government is sueing and calling it a monopoly to squash competition. in a press conference on thursday, the attorney—general marek garland pointed to the exorbitant fees and technological failures that have angered concert—goers and artists and cold the company's conduct anti—competitive and illegal saying it is time to break it up. metres of ubiquitous and the live entertainment industry. it controls at least 80% of primary ticketing and major concert venues, it directly manages more than 400 artists and controls more than 60% of concert promotions across the country. and it owns or

controls more than 60% of large and theatres in the united states. we allege that to sustain this dominance, live nation relies on unlawful and the competitive conduct to exercise its monopolistic control over the live events industry in the us and over defence, artists, independent promoters and venues that power the industry. promoters and venues that power the industry-— the industry. live nation denies it _ the industry. live nation denies it is _ the industry. live nation denies it is a _ the industry. live nation denies it is a monopoly i the industry. live nation i denies it is a monopoly and the industry. live nation - denies it is a monopoly and has said that a breakup wouldn't mean lower ticket prices or fees for fans. taylor lorenz is a columnist for the washington post based in los angeles. lovely to have you back on with us here on the programme. i want to get a sense of the reaction in us to what the department ofjustice announced department of justice announced yesterday department ofjustice announced yesterday because this has been rumbling on for some time, hasn't it?— rumbling on for some time, hasn't it? �* , , ., hasn't it? it's been running on for some _ hasn't it? it's been running on for some time _ hasn't it? it's been running on for some time but _ hasn't it? it's been running on for some time but i _ hasn't it? it's been running on for some time but i will- hasn't it? it's been running on for some time but i will say i for some time but i will say this was a little bit surprising to come, right before memorial day weekend,

everyone is trying to figure out what is the motivation and what does this mean? we have seen huge outrage in taylor swift ticket prices and things and i think people are trying to say, what is this? will this lower ticket prices or is this a political move to appeal to jonesy during an election year? that's interesting. there have been so many allegations, live nation saying that the doj doesn't get it, what is said that they don't get? what is the business, the economic of live entertainment, have you been able to break it down for us? , , �* , ., us? definitely. let's not foruet us? definitely. let's not forget this _ us? definitely. let's not forget this is _ us? definitely. let's not forget this is some - us? definitely. let's not. forget this is some reason right, this happened 15 years ago, this company has an operating for a long time and lost market share compared to what used to have but the business is tricky gig of these big stars like taylor swift are doing these and theatre tours, stadium tours and they said the prices for their tickets, taylor swift sets the prices for the tickets and then

everybody gets a cut, the promoter gets a card, the venue gets a cut and then live nation takes a card, live nation takes 5% cut competitive and like stubhub which takes 37% and as we've seen, a lot of these tickets have been bought up really quickly and up going to a secondary market for executive prices which is when you see that anger, why is taylor swift costing me $3000 and i should just fly and set in paris. and i should 'ust fly and set in paris. . v and i should 'ust fly and set in paris. . �*, , in paris. that's interesting because — in paris. that's interesting because i _ in paris. that's interesting because i didn't _ in paris. that's interesting l because i didn't understand that so you're saying that it's the artist that's at the prices and are they upping their prices, greed or because they are trying to recoup the challenges that streaming has brought? i challenges that streaming has brou . ht? ~ challenges that streaming has brou~ht? ~ �* , challenges that streaming has brou~ht? ~ �*, ., ., , brought? i think it's a really tou~h brought? i think it's a really tough time _ brought? i think it's a really tough time for _ brought? i think it's a really tough time for artist. - brought? i think it's a really tough time for artist. you . brought? i think it's a really i tough time for artist. you have people like taylor swift i want to have the biggest or all—time, you have these people that, i do if it's greed but they want to set records and they want to set records and they want to set records and they want are their tickets right at once which was this famous fiasco and then you just

have increased, a lot of trying to recoup costs from covid and it is expensive to tour some of these global tours i don't want to say that they're greedy, they deserve to get paid, live nation pays but don't know because the problem seems to be the scalpers in the secondary market, with the breaking of live nation would do anything to ultimately affect the scalpers out there which is not as much of a problem in europe. when the doj says that it's hurting artist, it's is it? i hurting artist, it's is it? i mean, it depends on the artist, many artists have said that no, they love working with live nation and it's not harming them. it depends on the type of artist, would look at the big artist, would look at the big artist, live nation doesn't control the venues that they play and then playing his football stadiums, not venues that live venue controls. it depends on the artist and the scale, i can understand why smaller items can be frustrated of like that and have options but to have more options today than they did ten years ago. taylor, thank you very much indeed. now — let's return to the uk —

where campaigning has begun in earnest ahead of the upcoming general election onjuly 4 — and as you've been hearing — party leaders have hit the ground running. prime minister rishi sunak clocked up the miles in england, wales and scotland. the opposition leader, sir keir starmer, headed to labour — target territory in kent. the economy and immigration have emerged as the main early battle lines. but how are financial markets taking the prospect of a general election? susannah streeter is head of money and markets at hargreaves la nsdown. what do markets need to see to be reassured?— be reassured? well, what we have seen — be reassured? well, what we have seen so _ be reassured? well, what we have seen so far, _ be reassured? well, what we have seen so far, the - be reassured? well, what we have seen so far, the 100 i be reassured? well, what we have seen so far, the 100 - l have seen so far, the 100 — 250, a little bit of weakness but perhaps, because of the uncertainty but the ftse, 100 is more international and

outlook. there hasn't been any kind of real concern about a potential change in government, you have seen some individual stock movements within the water and utility sector, a lot of groups yesterday and that may be of the back of the fact that incoming labor government could dramatically increase fines on the water companies that they considered to be underperforming in terms of those who originally set up leaking many parts of the uk so pending group, southwest water, it shares yesterday and housebuilding stocks had a bit of an uplift, that may be partly to do with the fact that labor has also pledged to build 1.5 million homes and revamp and streamline the planning system to ensure that more homes can be built. i wouldn't say as sarah led that we are said to see uncertainty on

financial markets are head ahead labor victory is pretty much being priced in and of course, it is all still to play for. and if there is uncertainty when it actually comes the day after, and that if there is a hung parliament, that could prompt more volatility on the market. i suppose, this does matter, doesn't know because we all know that when he goes wrong, it can go horribly, horribly wrong. all these politicians will have this trust in their mind and the reaction from the market. how helpful are these tv debates because keir starmer saying the prime minister saying the prime minister saying that he is happy to debate keir starmer every week for the next six weeks, can this actually hurt parties and also the markets? —— liz truss. certainly, they can hurt parties, we've seen before past

performances having opinion in the polls, in terms of the market, its actually lines administration takes office and actually puts followers policies taken for the markets local so with a trust administrator and unfunded tax cuts. ., , ., , ., cuts. the conservatives have said they _ cuts. the conservatives have said they want _ cuts. the conservatives have said they want to _ cuts. the conservatives have said they want to cut - cuts. the conservatives have said they want to cut taxes l cuts. the conservatives have l said they want to cut taxes but it is unlikely to be anywhere near that scare, we've seen tax cuts to national insurance form of cuts this year, twice in fact and that hasn't been greeted with a bond market stop out but suddenly, what the markets will want to see is a pledge for really good economic management as far as it can be at moment given the problems facing the uk economy but they will want to have an incoming labor government to be relatively conservatives in terms of a big, big spending pledge which are not funded

however, there is a big argument to say that there needs to be a lot more investment in public infrastructure and public services. infrastructure and public services-— infrastructure and public services. ., ~ , ., , services. 0k, thank you very much indeed. _ let's return to the us — because according to a report by bloomberg news — elon musk�*s rocket firm spacex could be valued at $200 billion in a new deal to sell shares to investors. the deal would allow staff and insiders to sell some of their shares in the closely—held company — at up to $110 each — potentially testing the water for a wider public share offering. the space industry as a whole could be worth over a trillion dollars by 2040, according to investment bank morgan sta nley. it's an industry that aerospace giant, boeing, is keen to cash in on. it suffered a setback this week

when it was forced to delay the first manned flight of its starliner reusable rocket — planned for this weekend because of a helium leak. meanwhile, top figures in the industry are gathering in los angeles for the annual international space development conference — not least — star trek actor, william shatner, who became the oldest person to go into space in 2021 — at the age of 90. he will be getting a lifetime achievement award. dale skran is chief operating officer of the national space society in the us. he's at the international space development conference in la. hello there to you. well, hello to ou. hello there to you. well, hello to yom a _ hello there to you. well, hello to yom a lot — hello there to you. well, hello to you. a lot of— hello there to you. well, hello to you. a lot of you _ hello there to you. well, hello to you. a lot of you are - to you. a lot of you are talking _ to you. a lot of you are talking about _ to you. a lot of you are talking about this i to you. a lot of you are| talking about this being to you. a lot of you are i talking about this being a space race, who is in this race if it is it happening?— if it is it happening? well, it's really _ if it is it happening? well, it's really a _ if it is it happening? well, it's really a race _ if it is it happening? well, it's really a race between l it's really a race between space acts and everybody else.

spacex is having a lot of rockets in the world and spacex operates and owns most of the satellite orbit around the earth so, the chinese are trying to be number two, companies like boeing are so far back that it hardly matters anymore. far back that it hardly matters an more. . , , .,, far back that it hardly matters an more. . , , , anymore. really, this has been driven by the — anymore. really, this has been driven by the private _ anymore. really, this has been driven by the private sector, i driven by the private sector, to what extent are the likes of nasser involved? what is their contribution? —— nassar. thea;r contribution? -- nassar. they have been _ contribution? -- nassar. they have been critical— contribution? -- nassar. they have been critical to _ contribution? -- nassar. they have been critical to their- have been critical to their success. they are now also going to be using the new starships to land on the moon and so, i think it's safe to say that elon musk is a partner with nasa in a very strong way. 0bviously, with nasa in a very strong way. obviously, we look about the business of space, you can? in

the rockets and keep sending spaceships up into space but what are you getting from space because that's where you start making the money, isn't it? there is really three ways you can make money in space, one is low energy bits, basically the way starling makes money, tv signals, gameplaying, controlling weapons in ukraine, all the fun stuff you can do at start link, eventually, the national space society would like to join great britain national space society would like tojoin great britain in seeing the us support solar power which is a way of bringing back something from space that would help solve the climate problem. eventually, some would wander around mining going on in space in the really long run and mineral resources being returned to the earth so wouldn't have to mine and dirty, dangerous mines in africa and colleges.-

africa and colleges. dale, thank you _ africa and colleges. dale, thank you very _ africa and colleges. dale, thank you very much. i africa and colleges. dale, i thank you very much. well, thank you very much. well, thank yom _ we were talking a bit about elon musk there — he's been talking to technology investors at an event in paris — where he has — perhaps surprisngly — spoken out against us taxes on chinese electric cars. suranjana tewari is following this for us in singapore. they all are. what has he been saying? they all are. what has he been sa inc? ~ , saying? well, you will remember those tariffs _ saying? well, you will remember those tariffs were _ saying? well, you will remember those tariffs were brought - saying? well, you will remember those tariffs were brought on i those tariffs were brought on by us presidentjoe biden early this week, increasing levies by “p this week, increasing levies by up to 100% on chinese electric vehicles among other things, actually an effort by the us to try and protect the american market and jobs there. on the uss these tariffs will stem a

flood of affordable chinese ev is being sold in the us, the problem is, also a market where elon musk and his electric vehicles are sold and so could potentially then benefit him and those tariffs could defend him as well in the us market. plus, back injanuary, he said that cheaper chinese cars have the potential to, in his words, demolish competitors from other countries. now, the multibillionaire seems to be saying, he doesn't support the tariffs saying neither tesla nor i asks for them so why is he saying this now? as we know, with elon musk, we may never know. what we do know is that tesla brought that on a factory in china in shanghai this week, making it the us electric car giants are second planned in the financial hub. this project is expected to turbocharge tesla's growth at a time when

sales are down and it's having to cut costs, mr musk has extensive business interest in china and is a fairly frequent visitor, he wasjust china and is a fairly frequent visitor, he was just there in april meeting senior officials and received a key security clearance for tesla's locally produced ev�*s are so china is clearly a very important market for taz love.— for taz love. thank you very much. for taz love. thank you very much- -- — for taz love. thank you very much. -- tesla. _ around the world and across the uk, this is bbc news.

to energy now — because the price uk households pay for their gas and electricity is set to come down again — when regulator 0fgem announces its new price cap in just over an hour. the new price cap will come in from july1 — its expected to be some 7% lower than the current one — meaning a household using a typical amount of gas and electrictity would be paying just over £1500 a year. the prices set by regulators

have come down because of a fall in the wholesale energy markets. but they're still some 40% higher than pre—pandemic levels. ben gallizzi is an energy expert at uswitch.com. hello there to you, ben. so that figure of around 7%, is that figure of around 7%, is that something you agree with? it's something that we were expecting, it's good news that the price is coming down for the price is coming down for the second consecutive time this year. this is for two year low, for the price gap, the last time it was this loan was august 2021 so, its positive news, and sounds against going to come down with a drop of over £100 a yearfor

to come down with a drop of over £100 a year for energy customers for the 29 million homes around the uk that are still on standard variable tariffs which is the tariff type that is governed by the price gap, this is super positive direction of travel for them. positive direction of travel for them-— positive direction of travel for them. ~ ., for them. when, the moment the rice ca -s for them. when, the moment the price caps are _ for them. when, the moment the price caps are announced, - for them. when, the moment the price caps are announced, to i price caps are announced, to that filtering to people's bill, many people if you ask, will be flabbergasted at the price gap is come down because they wouldn't have noticed it, is it that we are paying higher prices and to us entire or are we paying less now, have those prices filtered through to us? the prices have filtered through to us, the price, a couple of summers ago, was as high as £4200 a year and that's when the government had to actually take extra steps to protect customers from paying those figures. historically, it's true, even though prices are coming down now, no—one

would describe 1500 — £600 a yearfor an average would describe 1500 — £600 a year for an average household honor energy bills as cheap or affordable particularly considering that before the energy market crisis began, a fixed deal was about eight — £900 a year. so, overall, based on the contents of the last couple of years, this is good news, historically, it's not amazing but unfortunately, that is a situation we are in and we can probably expect to be paying around these prices for the rest of the decade, unfortunately.- the rest of the decade, unfortunately. the rest of the decade, unfortunatel . �* ., ~ unfortunately. 0k, ben, thank ou. we unfortunately. 0k, ben, thank yom wejust— unfortunately. 0k, ben, thank you. we just remind _ unfortunately. ok, ben, thank you. we just remind our- unfortunately. 0k, ben, thank you. we just remind our view. unfortunately. 0k, ben, thank| you. we just remind our view is you. wejust remind our view is that that announcement coming around in an hours time. finally, goodwoof, dogfest, dogstival, all about dogs. these are just some of the dog events taking place in the uk this summer — as organisers cash in on our love for our canine companions.

a third of uk households now own a dog. and there will be some 12,000 of them — along with their owners this weekend at dogfest at ragley hall in warwickshire where the event is now in its tenth year. dog festivals have now become as much a staple of the british summer as glastonbury and wimbledon. but what goes on at them? lottie gross is the author of dog days out. and she can tell us more. i'm amazed at how many they are, they really are becoming increasingly popular. they really are- _ increasingly popular. they really are. every - increasingly popular. they really are. every year, i'mj really are. every year, i'm sure i hear about a brand—new dog festival that is launching and frankly, i cannot keep up, i attend dog festivals every year and i've been to every one of them and it's great, great fun but it is... inaudible. brute all

fun but it is... inaudible. we all not a fun but it is... inaudible. we all got a bit — fun but it is... inaudible. we all got a bit excited. sorry, we just played some of the music from one of the festivals. how do these festivals. how do these festivals compared to what is considered the largest in the world and that's crafts? well, i have never _ world and that's crafts? well, i have never been _ world and that's crafts? well, i have never been to - world and that's crafts? well, i have never been to crafts i world and that's crafts? well, | i have never been to crafts but the dog festival, the difference is the dog festivals are all about fun, there is more serious competition that where the dog festival is very much about embracing, having fun with your dogs, treating your dogs, they are authors of these festivals, you can see all sorts of different things as well from police dog displays, you can have advice with nutritionist and behaviourist, there's also is going on so it's really quite a varied experience.— going on so it's really quite a varied experience. where does this is said _ varied experience. where does this is said with _ varied experience. where does this is said with - _ varied experience. where does this is said with - i _ varied experience. where does this is said with - i dunno, i this is said with — i dunno, competition between a lot of these festivals? do they get on quite well? any regulation at any of them? i quite well? any regulation at any of them?— any of them? i don't think there's any _

any of them? i don't think there's any kind _ any of them? i don't think there's any kind of - any of them? i don't think there's any kind of overallj there's any kind of overall regulation but another that every festival has its own on—site vet and there are experts, people like dog festivals with adam who advises the safety and the welfare and keep them all safe in terms of behaviour and anxiety and aggression in things like that. i'm always surprised, always surprised at how peaceful these festivals are that sometimes you can get upwards of two — 3000 dogs in the festival site at any one time. we 3000 dogs in the festival site at any one time.— 3000 dogs in the festival site at any one time. we are known in britain _ at any one time. we are known in britain for _ at any one time. we are known in britain for our _ at any one time. we are known in britain for our love _ at any one time. we are known in britain for our love for- in britain for our love for dogs and will pay for them. there's been a scandal at vets overcharging for their services, what can you tell us about this? i services, what can you tell us about this?— about this? i think that's really tricky _ about this? i think that's really tricky because i really tricky because healthcare really tricky because healthca re cost really tricky because healthcare cost money coming on 0utlook healthcare cost money coming on outlook to the us to see how much healthcare really cost and i think that i don't know the ins and outs of the overcharging issue but i mean, i know that are open book at

the cost of my vet bills but we all want the best for our pets and we attend festivals like this and spend hundreds of pounds on our pets on a week and at these festivals and so, what's £100 bill when it could save your pet's life or it could extend their life and make them happier and healthier? i've got a question, i imagine there's a lot of that i'm putting this in quotes, mass, at these events. you attend them, _ mass, at these events. you attend them, just _ mass, at these events. you attend them, just how- attend them, just how well—managed are they? [30 attend them, just how well-managed are they? do you know what? _ well-managed are they? do you know what? everybody - well-managed are they? do you know what? everybody there i know what? everybody there knows you've gotta pick up your poo so — the dogs. so everybody knows you have to do that, we all know that and actually, it's really well—managed, people are really good at making sure that they know when they dogs are making messes and get the occasional leg cocked on a sign of it's on my tablecloth while i'm selling my books but it's part of the cause. it doesn't really

matter. cause. it doesn't really matter-— cause. it doesn't really matter. ., ~' , ., , . matter. thank you very much indeed. there's _ matter. thank you very much indeed. there's something i indeed. there's something called a breed meet, i know that a lug — make love fest but anyway, you've been watching business today on bbc news. top stories coming up shortly. hello there. conditions look a lot better for the next couple of days. we should see more sunshine around, lighterwinds, so it should feel a bit warmer as well. friday, it's an improving picture — we should see sunshine breaking through across many areas. and for most areas, it should be dry, just a few showers across northern areas. now, this area of low pressure is continuing to weaken, and the rain is fizzling out, so there'll be barely anything on this weather fronts across scotland, northern england, as we move through friday morning. should see plenty of sunshine developing across southern areas, and some holes appearing in that cloud further north. just the odd shower dotted around, but many places will stay dry. temperatures responding, as well — lighter winds, more sunshine, 19 celsius, maybe 20 celsius, in the south, high teens further north.

as we head through friday night, it looks like skies will clear pretty widely, so it will turn chillier. just the odd shower across scotland, a bit more cloud here — so i think double figure—values in much of scotland and northern ireland, single figures for large parts of england and wales. so, into the bank holiday weekend, it's starting off fine and settled on saturday for most areas, and then, we'll start to see sunshine and showers through sunday and bank holiday monday. we've got this weather front encroaching in slowly during the weekend — but ahead of it, plenty of sunshine around. will be a chilly start, little bit of mist and fog around. this feature moving in from the continent could bring some cloud and rains east anglia, eastern england, and then, later in the day, this weather front moves its way into southwest england. but plenty of sunshine across the country, just the chance of an odd shower. a much warmer 20 celsius for many areas, up to 22 in the southeast. now, as we head into sunday, this weather front starts to cross the country, destabilising the atmosphere. it'll be one of sunshine and showers, i think — and through the afternoon, some of these showers

could turn out to be heavy and thundery, some local torrential downpours in places. temperature—wise, because a bit more cloud around and some showers, i think we're looking at highs of 18—19 celsius. and then, through bank holiday monday, again, sunshine and showers — probably the heaviest of the showers on monday will be across the northern half of the country, a bit more of a breeze as well coming in from the west. so, temperatures 16—17 celsius i think for many places. and then, for the upcoming week, i think it stays fairly unsettled — low pressure always close by, showers or longer spells of rain. however, there will still be some decent spells of sunshine at times. take care.

good morning, welcome to breakfast with charlie stayt and nina warhurst. 0ur headlines today. the last day of parliament before the general election and the final chance for mps to pass any new laws as party leaders criss—cross the united kingdom in pursuit of your vote. a piece of legislation that passed will today— a piece of legislation that passed will today clear— a piece of legislation that passed will today clear the _ a piece of legislation that passed will today clear the names - a piece of legislation that passed will today clear the names of- will today clear the names of hundreds— will today clear the names of hundreds of— will today clear the names of hundreds of sub—postmasterj will today clear the names of. hundreds of sub—postmaster is wrongly— hundreds of sub—postmaster is wrongly convicted _ hundreds of sub—postmaster is wrongly convicted due - hundreds of sub—postmaster is wrongly convicted due to - hundreds of sub—postmaster is wrongly convicted due to the i hundreds of sub—postmaster is i wrongly convicted due to the faulty horizon— wrongly convicted due to the faulty horizon it— wrongly convicted due to the faulty horizon it system. _ wrongly convicted due to the faulty horizon it system. and _ wrongly convicted due to the faulty horizon it system. and the - wrongly convicted due to the faulty horizon it system. and the formerl

horizon it system. and the former boss _ horizon it system. and the former boss paul— horizon it system. and the former boss paul venables_ horizon it system. and the former boss paul venables faces - horizon it system. and the former boss paul venables faces a - horizon it system. and the former boss paul venables faces a final. horizon it system. and the former i boss paul venables faces a final day of questioning _ a fall in the cost of energy as the latest price cap is announced this morning, but typical household bills are still above pre—pandemic levels. in sport. luke littler wins the premier league darts trophy. and the 17—year—old does it in style, hitting a nine—darter, on his way to beating the world champion luke humphries. it's the british tradition that's a sight to behold — the stage is set for the annual cheese rolling race this bank holiday weekend. we have sunshine this morning. fairly cloudy for most but how long will the dry, settled weather lasts through the bank holiday weekend? all the details in the programme. it's friday the 24th may. our main story. it's the last day for mps to debate and pass bills into law before parliament dissolves next week ahead of the general election. it's as party leaders travelled all four corners of the uk,

launching their campaigns for the weeks to come