permanent disposal site for nuclear waste. plus, fashionable londoners are increasingly turning to japanese food — a top restaurateur explains why. welcome to business today. i'm sally bundock. we start in india, where results for the country's election are beginning to trickle through. as you've been hearing voting started more than five weeks ago in the world's biggest election, with over 640 million people going to the polls. prime minister narendra modi is seeking a third consecutive term in office. his hindu nationalist bjp—led alliance is expected to win a big majority — but will it be enough to push through mr modi's economic reforms? job security and inflation has

hit the country hard, making the economy one of the biggest issues in this election. financial markets are already celebrating a modi win. let's go live to the bombay stock exchange and our correspondent archa na shukla. looking at markets today, we are seeing a sharp sell—off, what is going on? are seeing a sharp sell-off, what is going on?— are seeing a sharp sell-off, what is going on? well, as the markets opened _ what is going on? well, as the markets opened today, - what is going on? well, as the markets opened today, they . what is going on? well, as the i markets opened today, they got a bit of a shock from the initial and early trends of election counting. projections had projected a clear mandate for narendra modi and his party and its allies, but the initial trends can begin seem to show the win could be narrower than projected. i am outside the bombay stock exchange, one of the two national exchanges in india, both of which saw a rally yesterday in monday's trade, but today they have opened nearly 3% lower. they

are slowly recovering from some of the initial losses, it is down about 2% at the moment, but even the rupee fell on the financial markets seem to jitter based on the initial trends. rememberstock jitter based on the initial trends. remember stock markets are traditionally favouring policy continuity and with the economic policies of the narendra modi led government, which the party says it has india growth the fastest—growing economy in world and analysts say if the margin of victory is lower than what they had got in 2019 there would be volatility in the markets. would be volatility in the markete— would be volatility in the markets. , . ., . markets. tell us which economic issues matted _ markets. tell us which economic issues matted most _ markets. tell us which economic issues matted most to _ markets. tell us which economic issues matted most to voters . markets. tell us which economic issues matted most to voters in | issues matted most to voters in this election. —— which matter most. this election. -- which matter most. ., ., ., . most. for the ruling alliance, narendra _ most. for the ruling alliance, narendra modi's _ most. for the ruling alliance, narendra modi's agender- most. for the ruling alliance, narendra modi's agender for| most. for the ruling alliance, i narendra modi's agender for the economic policies they have

driven was something they went to waters with their economic led policies, which was largely led policies, which was largely led through the infrastructure projects, the massive government spending on building roads, airports across the country as well as the manufacturing push the government have given. at the moment india is, for the last few quarters, the largest growing major economy in the world. on friday, it reported its gdp numbers, a massive 8% economic expansion for the last fiscal year. that is something the government, the ruling alliance says has been because of policies led by the prime minister. but most of the critics of the government, as well as the opposition parties, have highlighted that if you look at the fine print of the economic growth it is not equal. the prosperity of the counterparts and the large economic expansion has not

trickled down to the masses, and the wealth inequality has grown under prime minister modi's tenure, as well as job creation which has been minimal from what was promised in 2014 when prime minister modi took the first term as prime minister. these have been some of the issues also on the minds of the issues also on the minds of voters this time.— of voters this time. archana, for now. _ of voters this time. archana, for now, thank _ of voters this time. archana, for now, thank you. - of voters this time. archana, for now, thank you. we - of voters this time. archana, for now, thank you. we will. for now, thank you. we will speak to you again later today. counting is well under way as you have been hearing. we will keep across the outcome of india's election throughout the day here on bbc news. in the meantime, pakistan's prime minister begins today a five—day official visit to beijing. the future of the china—pakistan corridor — a $62 billion project meant to resurrect pakistan's economy — will be top of the agenda. shehbaz sharif will meet with top—level chinese officials, including president xijinping. the project was initiated in 2015, and work on the next phase is due to kick off amidst growing concern in beijing over attacks on chinese citizens

working on the project. live now to amber shamsi, politicalanalyst, iba university, karachi. good to have you on the programme. forthe prime programme. for the prime minister of programme. forthe prime minister of pakistan this is a very important trip.- minister of pakistan this is a very important trip. yes, this is actually — very important trip. yes, this is actually very _ very important trip. yes, this is actually very important - very important trip. yes, thisj is actually very important trip for pakistan, for the current ruling dispensation, for one. as you mentioned, the china—pakistan corridor, this is the seed of projects and investments and lows kicked off investments and lows kicked off in 2015 when prime minister shehbaz sharif�*s brother was in power. there was some development while his brother was in power in the last government, several infrastructure projects, energy

products came to fruition. the projects or the proposals stalled and this is partly because of chinese officials and chinese engineers and dozens killed since 2018 and there is a change in government. the corridor was not their priority, either. it is also particularly important for the prime minister because the economy is in trouble. we have inflation touching 40, it has come down a little bit, hovering around the 20s now but at the same time pakistan has a huge debt problem. we owe the chinese a lot of money in terms of energy as well as commercial loans and other loans but also we have a stalled economy with

low investment, as well as very few dollar reserves. so pakistan needs to signal to the world that we are ready and open for investment. cpec 2.0, as some are calling it here, is crucialfor as some are calling it here, is crucial for pakistan to signal that the chinese are coming back, that we will be able to pay off some of those debts and hopefully attract more investment.— hopefully attract more investment. too many, looking from outside, _ investment. too many, looking from outside, they _ investment. too many, looking from outside, they will - investment. too many, looking from outside, they will see - from outside, they will see that this relationship between pakistan and china, china certainly has the upper hand, so what does that mean for pakistan in terms of what it has to give here, to enable this corridor to be complete? the chinese absolutely do have an upper hand, because we owe them a lot of money. by some calculations it is about 30 billion. and pakistan, because it does not have enough dollar reserves, it is not able to pay

back that money. so the hope is, and for another piece of context which is important, pakistan is also simultaneously negotiating a fresh international monetary fund loan and the imf is very clear that you cannot use the money you get from us to pay back chinese loans. so, again, very important because we owe the chinese some money. but giving them a fraction of the money that we owe them, and this is also part of the power plants, has been crucial, especially during the last government for pakistan's energy needs. at the same time also mounted a huge amount of debt in terms of what we owe to chinese power plants so we are hoping that pakistan and the pakistani prime minister is hoping that by taking private businessman, as part of the future delegation, increasing foreign investment

but also to wave off some of the loans that will be maturing or are maturing.— or are maturing. there is so much to _ or are maturing. there is so much to talk— or are maturing. there is so much to talk about - or are maturing. there is so much to talk about here - or are maturing. there is so j much to talk about here and or are maturing. there is so i much to talk about here and it is an economy that is so interesting. thank you, amber shamsi. we will keep an eye on how that trip goes for pakistan's prime minister. three international airlines have been hit with fines for slow covid refunds. lufthansa, klm royal dutch airlines and south african airways face civil penalties totalling $2.5 million. 0ur north america business correspondent michelle fleury has the latest from new york. yes, the us department of transportation said today's action stems from extreme delays in refunds worth more than $900 million from lufthansa, klm, and south african airways. all of this related to covid—19 flight changes and cancellations. now, on top of the refunds the three airlines have already paid back, they now face a hefty fine. us transportation secretary pete buttigieg said this

was about holding airlines accountable, adding that passengers — well, they shouldn't have to fight with the airline to get their money back. lufthansa and dutch flag carrier klm were both fined over $1 million each. south african airways was ordered to pay $300,000. germany's lufthansa said in a statement it had made all the required refunds, and blamed the historically unprecedented level of refunds during the covid—19 pandemic for the delay. the department of transportation, meanwhile, has launched a new dashboard in an attempt to put public pressure on airlines to address customer concerns. all of this has caused growth from the biden administration to cut back on so—called junk fees. let's get some of the day's other news now. us court papers allege standard chartered escaped prosecution for money laundering after lord cameron's government intervened on its behalf in 2012. new documents filed to a new york court claim thousands of transactions worth more than $100 billion

were carried out by the bank — one of the uk's largest — from 2008 to 2013 in breach of sanctions against iran. an independent expert has identified $9.6 billion of foreign exchange transactions with individuals and companies designated by the us government as funding "terror groups" — including hezbollah, hamas, al-qaeda and the taliban. in a statement, the bank said it disputes the whistleblowers' claims, saying their previous allegations had been "thoroughly discredited" by us authorities. a glitch during a software update early monday led the new york stock exchange to erroneously halt trading on about 40 stocks and display odd trades showing a 99% drop in companies' value, including warren buffett�*s berkshire hathaway. the disruption — the third episode to hit us markets in the past week — was resolved after around 45 minutes. nyse said it will

cancel the bad trades. the nigerian government has made a renewed offer to public sector workers who have gone out on indefinite strike over demands to increase the minimum wage. millions were without power on monday as the strikes disrupted the electricity grid. shares in gamestop have been surging yet again. they gained as much as 50% at one point in monday's trading session, ending the day 21% higher. the move was based on speculation that the investor known as roaring kitty claimed a sizeable stake in the video game retailer. now, let's talk about waste and the problem of what to do with very toxic nuclear waste. worldwide, hundreds of thousands of tonnes of it has been piling up in temporary storage. but finland believes it has a solution. after two decades of construction, work will soon be completed on what is the world's first geological tomb for spent nuclear fuel — a deep cavern drilled into the bedrock on finland's southwestern coast. adrienne murray travelled

to eurajoki to find out more. it's a brief elevator ride almost half a kilometre underground, into the depths of 0nkalo — where, for the first time anywhere in the world, highly radioactive nuclear waste will be permanently stored. these tunnels span more than 50 kilometres. 0ur depth at the moment is about 430 metres. eventually, they'll hold 6,500 tonnes of spent uranium — all the waste finland's five reactors will ever produce. it takes hundreds of thousands of years for radioactive waste to safely decay. and this underground tomb is the final resting place for finland's spent nuclear fuel. the bedrock here is almost two billion years old, and geologists think it's ideal for a nuclear graveyard. the whole western finland is located in a really stable,

geological, stable area. geologically stable area. we have hardly any earthquakes, and the ground weather conditions are good for our concept. in a final disposal facility... remote—controlled machines will do the work — slotting five—metre copper canisters into holes in the rock, before it's sealed off with clay and a thick concrete plug. most radioactive waste is temporarily stored in pools above ground. and worldwide, around 260,000 tonnes are piling up. but finland believes a geological tomb like this offers a safer solution. you need to cool down the spent fuel for 40 years. the world is full of those temporary storages, and almost all of that oldest waste is ready to be put to its final place. you might imagine that few would welcome such a facility in their back yard, but two thirds of finns support nuclear energy. and in the neighbouring town

of eurajoki, locals have been won over byjobs and huge tax revenues. when they built it, there was a lot of employees — workers — and it bring money. if we look around, everything here is because of that. it has given us everything. it's just... it'sjust a fact. the nearby power plant, 0lkiluoto, is now home to three reactors, after europe's newest and most powerful were switched on last year. amid heightened tensions with russia, it's been fortunate timing, and has helped spare finland from the worst of europe's energy crisis. we have a history of being the most dependent on imports in electricity. and finally, now, we are not dependent on imports any more. nuclear power doesn't produce any direct carbon emissions, and here it's seen as climate friendly. even finland's green party have backed it. but some environmentalists still worry about the risks. you have waste that you should take care of for enormous

amount of generation, so it would be hard to say that it would be sustainable. while some countries like germany have said no to nuclear, others — including the uk — are building new reactors, and are watching finland very closely. adrienne murray, bbc news, eurajoki. around the world and across the uk, this is bbc news.

hello again. you're with business today, i'm sally bundock, and it's already been a roller—coaster ride for energy prices this week. europe's gas price spiked on monday to its highest level this year — up more than 13%. in the meantime, oil prices sunk by around 4%. so what is going on? live now to swetha ramachandran, fund manager, artemis investment management.

good morning to you. this time yesterday we were watching oil because of the 0pec decision on sunday but what was happening with gas prices?— with gas prices? well, the gas rices with gas prices? well, the gas prices are _ with gas prices? well, the gas prices are really _ with gas prices? well, the gas prices are really being - prices are really being affected by a temporary outage at a norwegian processing plant which is affecting movement of gas, and so the reason that is important is that, following the end of russian pipelines of gas to europe, norway is now the largest exporter of gas into europe, accounting for about 30% of all european gas imports. so any changes to norwegian oil supply very quickly feeds through to the national gas price and causes exacerbated volatility at outages such as this. it goes to show that _ outages such as this. it goes to show that across - outages such as this. it goes to show that across europe | outages such as this. it goes i to show that across europe we are still very susceptible to these kind of changes, when there is a problem. the energy

security is a risk.— security is a risk. yes, certainly _ security is a risk. yes, certainly this - security is a risk. yes, certainly this is - security is a risk. yes, certainly this is a - security is a risk. yes, | certainly this is a point security is a risk. yes, i certainly this is a point of vulnerability. there's also the associated fact that lng supplies, which from the middle east and us are increasingly being diverted to asia to cope with demands arising from the heat wave under waythere, which is also pressuring the availability of gas supplies into europe.— availability of gas supplies into europe. let's talk about oil. into europe. let's talk about oil- 0pec — into europe. let's talk about oil. 0pec announces - into europe. let's talk about oil. 0pec announces it - into europe. let's talk about oil. 0pec announces it is - oil. 0pec announces it is keeping production cuts in place. the price falls quite significantly, brent below $80 per barrel, still there, what is going on?— per barrel, still there, what is going on? indeed. the oil rices is going on? indeed. the oil prices are — is going on? indeed. the oil prices are at _ is going on? indeed. the oil prices are at their _ is going on? indeed. the oil prices are at their lowest. is going on? indeed. the oil| prices are at their lowest for four months, retreated 20% since their yearly high this year. what is essentially happening is that 0pec+ has decided to wind back the production cuts it had put in earlier than expected, so starting in october this year it will start to phase back the 2.2 million daily barrels of oil it had promised to cut and there are also indications that some members of 0pec are not

necessarily respecting those quota reductions and are producing above their quota, already adding to a situation thatis already adding to a situation that is leading to potential suppliers you should be in overall demand picture remain muted, and central bank policies around the world to care interest rates are suggested to be having impact on demand and oil prices. it will be interesting to watch the summer driving season in the summer driving season in the us which is starting now, because that has an impact on demand. i remember us wonder when we will get to the point in the us, when electric vehicles will make a difference on the demand for gas at this time of year. on the demand for gas at this time of year-— on the demand for gas at this time of year. electric vehicles are growing — time of year. electric vehicles are growing in _ time of year. electric vehicles are growing in penetration . time of year. electric vehicles | are growing in penetration but slower than expected and i think these lower gas prices might tip the incentive further away from necessarily shifting right now. it will be a slower event than usual, not something

that happens in one or two years. that happens in one or two ears. , . ., , years. interesting. nice to see ou, years. interesting. nice to see you. have _ years. interesting. nice to see you. have a — years. interesting. nice to see you, have a good _ years. interesting. nice to see you, have a good day, - years. interesting. nice to see you, have a good day, we - years. interesting. nice to see you, have a good day, we will| you, have a good day, we will see you again soon. i am sure we cannot forget the pandemic, can we? remember how the restaurant trade almost went under? well, some restaurateurs took a big gamble and invested heavily in a recovery after the shutdowns. one of them was the creative restaurant group, which ploughed a lot of money into a big restaurant in the old war office building here in london. there is a japanese chef at the helm — more on that in a moment. i'm joined by alex d'aguiar, managing director of the creative restaurant group. 0ne welcome to the programme, coming to us live from a restaurant. tell us why you decided as a restaurant group to take the plunge when so many saw it as very high risk, in

central london, when so many were staying out of the city. good morning, how are you? thank you for having me and welcome from rooftop of the old war 0ffice. welcome from rooftop of the old war office. the pandemic definitely shook the hospitality to quite an extreme level. during that time we were lucky that our ownership group saw an opportunity for us to be able to continue our path informing this restaurant group. we took an opportunity to acquire a couple of sites at the end of the lockdown and as we came out of the pandemic we managed to carry on and there were pockets in london where the restaurant scene still had its buoyancy, but yet we were still fighting huge amounts of headwinds in various parts of the hospitality sector, dealing with these waves coming through. we are now out of that

and we find ourselves here on the rooftop of the old war 0ffice the rooftop of the old war office and this has been a partnership with the ownership of the building and we were approached to create a new concept within the property. why japanese chef? concept within the property. whyjapanese chef? it concept within the property. why japanese chef? it seems to be popular in london because apparently there are more than 20 chefs across london who are japanese at the moment. listen, ja anese japanese at the moment. listen, japanese cuisine _ japanese at the moment. listen, japanese cuisine is _ japanese at the moment. listen, japanese cuisine is very, - japanese at the moment. listen, japanese cuisine is very, very - japanese cuisine is very, very popular. it always has been but it is definitely more prevalent now. our company director, third generation sushi master, we met him during the pandemic, as it goes. we helped him, he has a once tight michelin restaurant at tv centre, bbc, on the roof in the rotunda. he was seeking some help and we met him and helped him and off the back of that we then formed a partnership and organically, over the past few years, we

have opened a few restaurants with him at the helm and with him in the background, as well, as our company director but this is with him definitely at the helm. d0 this is with him definitely at the helm-— the helm. do you have any concerns — the helm. do you have any concerns question - the helm. do you have any concerns question what. the helm. do you have any| concerns question what you the helm. do you have any- concerns question what you have invested heavily straight after lockdown and of course the uk economy has been through a tumultuous time. also in hospitality there has been a real problem with getting people to work for restaurants, waiters, waitresses, etc, chefs. what challenges did you face? i chefs. what challenges did you face? ~ , face? i think investing heavily. _ face? i think investing heavily. i _ face? ithink investing heavily, i would - face? ithink investing heavily, i would say i face? i think investing . heavily, i would say more investing wisely. in hospitality, the restaurant sector, the metrics remain the same, internal investment, you want to see that in the first five years so we have measured our investment according to that but also complementing the properties we are in. the old war 0ffice properties we are in. the old war office is a very prestigious building, the ownership have high expectations with the anchor

tenant, so we have invested to accommodate that. you are right, we have to be very mindful of how much investment we make because the headwinds are still there. recruitment will always be a challenge and it restricts us... will always be a challenge and it restricts us. . ._ it restricts us... alex, sorry to interrupt, _ it restricts us. .. alex, sorry to interrupt, i— it restricts us... alex, sorry to interrupt, i would - it restricts us... alex, sorry to interrupt, i would love i it restricts us... alex, sorry| to interrupt, i would love to talk further but we are literally out of time on this programme but we appreciate you getting up so early. live from the stunning venue, as you have outlined and we will talk to you again sometime on bbc news but i have to say goodbye. have a lovely day, i will see you soon. hello there. things are set to turn cooler for the rest of this week as we pick up arctic air, which will spread southwards across the uk during the course of tuesday. so it's going to be pretty disappointingly cool for the time of year, with some really chilly nights to come — gardeners and growers take note — and we'll see a mixture of sunshine and showers. it's all thanks to this area

of low pressure pushing southwards out of the arctic, bringing this cold air behind the cold front across the country as you move through tuesday and into wednesday, and thereafter for the rest of the week, this cooler air hangs around with sunshine and showers, mainly across the north of the uk. tuesday starts off mostly dry. variable cloud, a bit of brightness for england and wales. this band of cloud and showery rain will spread south across the country. some of it will be heavy and squally, maybe a few heavy showers ahead of it in east anglia. but skies brightening up across the north of the uk later on behind the rain band, sunshine and blustery showers, but turning chillier here. last of the warmth hanging on ahead of that rain band, which will clear through during tuesday evening. and then we're all into the cooler air, clearer skies, plenty of showers rattling into northern and western areas, some of them heavy,

again, with some rumbles of thunder. but a much cooler night to come to start wednesday. we're looking at low single digits pretty widely. so into wednesday, we have that area of low pressure sitting to the north of scotland, bringing the strongest winds to the northern half of the country. and it's here where we'll see most of these blustery showers moving through. again, some could be heavy with a little bit of hail, maybe wintriness on the very high tops of the scottish mountains. better chance of staying dry with some sunshine towards the far south and east, but highs of only 17 degrees — low teens further north. factor in the wind, it'll feel cooler than those temperatures suggest. thursday, similar story. most of the showers will be across the northern half of the country, closer to the area of low pressure, better chance of staying dry across parts of wales, the midlands southwards. it could be up to 17 or 18 degrees on thursday afternoon. but again, another chilly one in the north. and you can see why. that area of low pressure just hangs around thursday, even into friday and the weekend, with that blue hue denoting the cooler air hanging around, especially across the northern half of the country. further south in the sunshine, it won't be too bad. may hit the 20 celsius mark as we head into the weekend.

some decent spells of strong june sunshine, but it'll feel chilly in the north with further showers.

good morning, welcome to breakfast withjon kay and sarah campbell. 0ur headlines today. the stage is set for tonight's first head—to—head debate between the two men vying to be the next prime

minister. the conservatives promise to reduce the number of visas available to migrants each year, if they win on july 4th. a british—israeli man is among four hostages found dead in gaza as talks over a possible ceasefire deal hang in the balance. good morning from portsmouth. preparations are under way to mark the anniversary of d—day. 80 years since the allied invasion of normandy in 1944. that fairy will take some of the last remaining veterans to services in northern france. ., ., , ., , france. no doubting liverpool loves ta [or but france. no doubting liverpool loves taylor but is — france. no doubting liverpool loves taylor but is the _ france. no doubting liverpool loves taylor but is the whole _ france. no doubting liverpool loves taylor but is the whole country - taylor but is the whole country expected to get an economic boost as the megastar�*s tour arrives in the uk later this week? in sport. who has made their mark after wins for both scotland and england in their penultimate warmup matches before

this summer's euros? now to decide who will be on that plane to germany.