new presidential nominee. india's finance minister will be presenting the budget today setting the tone from the renderer motor�*s third term in office. we will bring you all the updates from new delhi. hello, and welcome to business today. i'm arunoday mukharji. the us vice president kamala harris has launched her pitch to become the new aquatic presidential nominee afterjoe biden pulled out over the weekend. she delivered a speech in the last hour to party campaign staff added event in delaware. in the days and weeks ahead i, together with you, - will do everything in my power to unite our democratic party, to unite our nation and to win this election.

donations have been pouring into the democratic party and collectively they have raised over $100 million. harris still needs to win the nomination i do not next month. i've been speaking to thomas hayes on whether the reshuffling will change the scenario for investors.— change the scenario for investors. . ., ., ., ., investors. the advent of kamala harris to the _ investors. the advent of kamala harris to the picture _ investors. the advent of kamala harris to the picture speaks - investors. the advent of kamala harris to the picture speaks to l harris to the picture speaks to a probability that even if the democrats do not win the executive branch or the republicans win the executive branch it is no longer a foregone conclusion that it will be a sweep and what the market like whether you have a democratic president or a republican president is woodlock. they like to see checks and balances as kind of the culture of american politics in the markets and stock markets in the united states do better when one party does not control the executive, the senate and house of representatives. in the senate and house of representatives.- the senate and house of representatives. the senate and house of reresentatives. . ., , representatives. in a few hours

from now _ representatives. in a few hours from now the — representatives. in a few hours from now the indian _ representatives. in a few hours from now the indian finance - from now the indian finance minister will present the union budget to set the tone for the government's third term in office. this is the first full budget from the renter remotely�*s government in its third term although with a weakened mandate and the help of allies. let's cross to delhi where my colleague isjoining us. she will track all the announcements that are coming up. thank you for coming up. what are the highlights that we can expect? what are the highlights that we can meet?— can expect? remember this is the first budget _ can expect? remember this is the first budget of _ can expect? remember this is the first budget of a _ can expect? remember this is the first budget of a coalition i the first budget of a coalition government in the last ten years so this is the first time perez had —— premised on the renter remotely�*s government all present a budget with coalition allies so there is expectation that while the spending on capital infrastructure that we have seen over the last ten years, spending massively in building roads, bridges hideaways and apportioned a subsidy push on manufacturing for export

markets, that will continue but along with that there will be updates on welfare spending. there are political allies and states that the government will need to keep in balance while announcing this budget. in the last ten years we have seen massive investment in capital spending but we have also seen tax cuts for big corporations as well as subsidies to push export —based manufacturing and this time around there will be a focus on manufacturing but with a focus on creating more jobs because chronic joblessness is one of the biggest challenges facing the moody government in its third term. along with a first world economy we have also seen brutal distress and wealth inequality grow over the last few years and that is something that will be kept in focus also during this budget so the focus will also be on giving something for the rural economy.

something for the rural economy-— something for the rural economy. something for the rural econom . ., ., , economy. on paper india remains a fast-growing — economy. on paper india remains a fast-growing economy. - economy. on paper india remains a fast-growing economy. in - a fast—growing economy. in terms of growth prospects, what are we looking at? india continues to be the fastest growing and that is expectation but expectations have been lowered to 6.5—7% for the next fiscal and saying that artificial intelligence and climate change could be some of the external factors that could affect the growth going forward. but the government does have the money to spend. they have the fiscal capacity to spend on welfare spending even at the moment and they could still be able to balance both. thank you very much for reporting on the indian budget through the day on bbc news. tiktok is once again in the news headlines as former president donald trump says he will not ban the app if elected in november after previously saying otherwise. by dance has

been under regulatory scrutiny in the united states and european union due to security concerns. here in southeast asia its three—year—old e—commerce platform has outpaced rivals with sales quadrupling to more than $16 billion last year. momentum works recently did a study on the app and its ceo told me about the secret to the success of tiktok. , about the secret to the success of tiktok-— of tiktok. they have been determined _ of tiktok. they have been determined in _ of tiktok. they have been determined in exploring i determined in exploring e—commerce in this market over the last three years. they've made a lot of investment across different markets in southeast asia and another point they haveis asia and another point they have is that they have a lot of users and they want to convert these users, e—commerce users. when you talk about users what kind of shopping habits have you picked up and how does the platform adapt to the habits? two things. what we see on tiktok shop was different from

other platforms that are very, a large portion of the shopping began with cosmetics and skincare which is different from what you usually see which is electronics. so live commerce and tiktok, live commerce and tiktok, live commerce gives people a way to demonstrate how to apply skincare and cosmetics and that gives them entry and they add other products gradually into the mix. tiktok has been facing regulatory pushback from the us and european union.— and european union. looking ahead how — and european union. looking ahead how do _ and european union. looking ahead how do you _ and european union. looking ahead how do you see - and european union. looking - ahead how do you see southeast asia fitting into the global strategy? fist asia fitting into the global strategy?— asia fitting into the global strate: ? �* ., , strategy? at the moment it is focused on — strategy? at the moment it is focused on pushing _ strategy? at the moment it is i focused on pushing e-commerce focused on pushing e—commerce in the us and lessen top executives to the us. they do not know what will happen after the elections but i think they will be working hard to make tiktok shop viable and relevant in the us. in southeast asia it is a market that is has reasonable scale and they can make a profit if they want to. now to the airshow under way in the uk this week. for airbus

with a full order book it is the dominant playerfor with a full order book it is the dominant player for large commercialjets as their rival, boeing, struggles with safety and quality controls. but the european firm has problems too — as its chief executive, guillaume faury, explained to our correspondent theo leggett. we are in a situation that is complex for everyone. the international situation is another complex one. a lot of our issues are coming from the supply chain, and that's probably something that's come to other companies. now there are plenty of differences, as far as airbus is concerned, we are trying to focus on our priorities, our customers, which is quite complex, finding what i call the sweet spot between a very strong demand and the ability of the supply chain to follow in a safe manner with quality at the centre. because the truth is at the moment, you've got more than 8000 planes, you're making them as fast as you can but you can't make them fast enough. indeed, we have more demand than we can supply. it's a demand driven market at the moment, and we are working hard with our suppliers to catch up in this environment,

so that the situation, more demand and supply. and a lot of your problem is coming from the suppliers, they can't give you what you need. how frustrating is that? we have to adapt to the situation. we are helping our suppliers as much as we can. the vast majority of the suppliers are actually at the right pace, but when some of them are late, we have to adapt to those ones, therefore we are focusing our reports on what we call bottlenecks and sending people, trying to provide help to anticipate the situation, and we've increased the buffer stocks to be able to react to crises in the supply chain better then we put in normal times. so we have to face the reality of todays market. shares of cyber security firm crowdstrike continue to head south on wall street after the global outage last week with some companies still struggling to fully restore their systems.

our business correspondent has the latest. if our business correspondent has the latest. , ., our business correspondent has the latest-— the latest. if you looked at crowdstrike's _ the latest. if you looked at crowdstrike's stock - the latest. if you looked at - crowdstrike's stock performance last week before the worldwide it meltdown your dissension at nearly 40% this year. now it is a different story. shares closed down more than 13% on monday marking are more than 30% drop over the last five days. it is the result of what has been called one of the worst outages in history. around 8.5 million microsoft windows computers around the world crash last week because of crowd strike's faulty content update. that lead to chaos for global travel, banking and healthcare banking and healthca re services. banking and healthcare services. firms are struggling to recover. u.s.—based altar airlines cancelled hundreds of flights on monday after cancelling thousands since friday. 0ther cancelling thousands since friday. other carriers were able to return to near—normal levels of operation. the chief security officer, sean henry called it a gut punch for

the firm. before we go a quick update from china which has unexpected atley unveiled a cut to lending rates days after a top government party policy ended with no firm indication of how the government plans to boost the economy. the people's bank of china got several —— cut several short—term rates including the one—year primary used as a benchmark for corporate borrowing, bringing it down to 3.35%. it is the first cut since august last year. it is all for the moment. bbc news updates will continue, please stay with bbc news.

hey, i'mjulia with the catch up! tonight — the secret service gets a grilling, 0lympians arrive in paris, and is kamala harris running for president? the us vice president, kamala harris, made her first public appearance after presidentjoe biden announced he was dropping out of the next election race and endorsing her as the democrat party's nominee on sunday. 0n the south lawn outside the white house, she paid tribute to biden, his family and his legacy while he's isolating with covid. in one term, he has already... yes, you may clap. applause in one term,

he has already - surpassed the legacy of most presidents who have served two terms in office. next — kimberly cheatle, the head of the us secret service, got a grilling from both the democrats and the republicans today. they pressed her about the assassination attempt against donald trump at a rally on 13july, which killed one man, and injured three others, including trump himself. cheatle called it the most significant operational failure at the secret service in decades. she's faced calls from both sides to resign — which she's declined to do so far. and we'll leave you with ten seconds of olympic arrivals. yes, it kind of looks like freshers moving into uni halls, but it's actually hordes of athletes heading to their dorms at the olympic village in paris, and the countdown is on until the opening ceremony on friday.

you're all caught up now — see ya! hello and welcome to sportsday — i'm gavin ramjaun. the countdown is on, as athletes arrive in paris, ahead of the olympic opening ceremony this week. nba superstar lebron james will be there for a fourth time as he flies the flag for team usa. and cavendish calls it a day in the tour de france... after his record breaking achievements in this year's race. hello there, and welcome to the programme.

the eyes of the sporting world have been darting around europe this summer. first germany for euro 2024 then the uk had centre stage for wimbledon — and the open recently but now, attention turns to to france and the start of the paris 0lympics this week. athletes have already been arriving in the city, ahead of friday's opening ceremony. very few sporting events have their build up scrutinised as much as the games. the french president emmanuel macron is ready for it, and for the world to see a rather different curtain raiser — on the water. we will have an opening ceremony which is unique because it is... this ceremony which is unique because it is... this is ceremony which is unique because it is... this is once in the history of the olympic games where we will have such an opening ceremony. not in a stadium but on the river and i can tell you that at the very beginning it seemed to be a

crazy and not very serious idea.