as fears over a slowing us economy spreads. tensions in venezuela: the eu says it cannot recognise president maduro�*s contested re—election without full voting records. batteries running flat: we take a look at what's behind europe's declining ev demand. also in the programme: what are "pig butchering scams"? we reveal all and how to stay safe. hello. good to have you with us. live from london, this is business today. i'm sally bundock. we start injapan where stocks have tumbled today on the back of major sell—offs on wall street last week. markets across asia opened down as investors weigh up fears of the impact of a slowing us economy on the back of weaker—than—expected

jobs numbers on friday. investors worldwide are braced for a volatile week with the sell—off injapan expected to continue in europe and the us. let's have a look how asia is fairing now. as you can see, the main market injapan is down over 7%. this is in reaction injapan a great deal to what happened last week, the central banks apprising with a movable interest rate, and that because the japanese yen, the currency to strengthen versus the us dollar. so that specific pressure for stocks listed, slight decline for the hang seng, other markets in asia, they are down. let's go to our asia business hub tojoin the bbc�*s resident yen geek, mariko oi, because, mariko, the sell—off injapan is partly because of the japanese currency, isn't it? it isa it is a bit ofa it is a bit of a bloodbath today. the decay as you

mentioned opening 7% lower and more crucially they are actually down by more than 15% in three sections —— nikkei. if confirmed at the end of today, biggest three—day funds in 2011 when the country was in the earthquake that triggered a meltdown at the nuclear power plant. concerns over the world was my biggest economy after that week jobs was my biggest economy after that weekjobs number, for japanese investors, is very much caused by that sudden jump in the value of the japanese yen. as we discussed last week, the bank ofjapan has raised interest rates for the second time this year 0.25%, which is still very low compared to the rest of the world but it was enough to prop up the value of the japanese currency. this is exactly what the japanese authorities actually wanted because they said the yen was getting too weak, and that was making the host of imports for things like fuel and food more expensive, but of course as a

nation of exporters, the stronger yen makes products more offensive abroad so their shares have been hit badly. it is also interesting is that there are many more retail investors injapan today compared to 2011 because unlike other major economies, people in japan other major economies, people injapan are known not to invest much in the stock market because they are more inclined to keep their assets and cash under their mattresses. the japanese government has been pushing a tax—free stock investment programme to encourage them to invest, and those retail investors has been panicking with the latest seller. ., ~' , ., , panicking with the latest seller. ., ~ , ., , . seller. thank you very much indeed for — seller. thank you very much indeed for making _ seller. thank you very much indeed for making sense - seller. thank you very much indeed for making sense of| seller. thank you very much i indeed for making sense of the mayhem right now in tokyo. joining me now isjosh mahony, chief market analyst, scope markets. good morning to you. we know that in some away can see a lot of volatility because there can be thin volumes, people are away, it is known as the silly season, this is more than that, isn't it? . , season, this is more than that, isn't it? , , ., isn't it? yes, definitely more

than that — isn't it? yes, definitely more than that. this _ isn't it? yes, definitely more than that. this is _ isn't it? yes, definitely more than that. this is a _ isn't it? yes, definitely more than that. this is a reversal. than that. this is a reversal in a multi—year trend when it comes to what is happening over injapan, and this is a turnaround in the story in the us from what was deemed to be a soft landing where they essentially managed to drive down inflation but not necessarily risk the us economy. that story is starting to turn. is economy. that story is starting to turn. . ., to turn. is it turning, though? is that what _ to turn. is it turning, though? is that what could _ to turn. is it turning, though? is that what could happen, . to turn. is it turning, though? is that what could happen, or| is that what could happen, or are markets just getting fearful about what could be and taking profits because prior to the sell—off that we have seen in the last couple of weeks, we were talking about record closing numbers in the us on the nasdaq and the snp 500, day and an die out. —— day in and day out. and an die out. -- day in and day out-— day out. the us gdp still stands at _ day out. the us gdp still stands at a _ day out. the us gdp still stands at a healthy - day out. the us gdp still stands at a healthy 2.8%| day out. the us gdp still. stands at a healthy 2.896 on day out. the us gdp still - stands at a healthy 2.896 on an stands at a healthy 2.8% on an annualised basis of this talk of a potential recession may be ill founded and also bear in mind that most of the year people just care about what the federal reserve to an impact on friday'sjob support was

federal reserve to an impact on friday's job support was we saw a massivejumping expectations a massive jumping expectations in a massivejumping expectations in terms of easing the federal reserve, it now stands as a best case scenario they will hide by 50 basis points instead of 25 basis points. soon enough people could turn their focus to be optimistic about the potential for a to be optimistic about the potentialfor a rapid bout of easing from the fed, but right now there are concerns about whether this is the beginning of a so—called hard landing stop just talk us through the jobs report on friday. milt; stop just talk us through the jobs report on friday. why did it sirit jobs report on friday. why did it spirit peeple _ jobs report on friday. why did it spirit people so _ jobs report on friday. why did it spirit people so much? -- l it spirit people so much? —— why did it spirit people? isluiitll why did it spirit people? with all revisions _ why did it spirit people? with all revisions to _ why did it spirit people? with all revisions to prior - why did it spirit people? ii�*u all revisions to prior months, for example, you might see a number and it comes out and people are happy in the economy is doing well. a month or two down the line suddenly they provide a massive downward provision. that really spooked people a bit, so maybe thejobs market isn't as good as it actually appeared previously and this time around you saw a decline down to 114 k on the payrolls number, that is

particularly low, we saw a jump in terms of unemployment up to 4.3 from 4.1. these metrics reaching long—term lows or long—term highs depending on which one you don't want, and in terms of the one—sided optimism, it came from the average hourly earnings, saw a decline from that which meant at least the federal reserve stands in a position to do something about that because the worst—case scenario would be economic deterioration where inflation remains high and therefore the federal reserve's hands would be titles of that is not necessarily the case here. �* , .,, . here. all right, josh. thanks for our here. all right, josh. thanks for your time. _ here. all right, josh. thanks for your time. have - here. all right, josh. thanks for your time. have a - here. all right, josh. thanks for your time. have a good i for your time. have a good week. we will see how things go. the european market will start their day in a couple of hours' time. will keep an eye on how things go when start their day. now to venezuela as international calls mount for authorities to publish its electoral rolls after its disputed election. the eu said in a statement last night that it "cannot recognise" claims of victory by the incumbent president

nicolas maduro without full publication of the official voting records, saying any delays "cast further doubt" on their credibility. the us has said there was "overwhelming evidence" venezuela's opposition won the vote. so, what now for venezuela and its economy? jimena blanco is chief analyst and head of americas research for verisk maplecroft. good to have you on the programme. talk us through what is happening at the moment, because this time last week we were seeing the fallout from the results of the election, and of course days that followed, there was a lot of protesting going on. what is currently happening? i protesting going on. what is currently happening?- currently happening? i think there is two _ currently happening? i think there is two fronts - currently happening? i think there is two fronts right - currently happening? i thinkl there is two fronts right now. the domestic front of because we have the continuation of protests as you were mentioning, a lot of repression, we have over 1000 people arrested, and political leaders from the opposition,

some seeking refuge in amnesties, etc, is a very tense situation domestically. 0n the international front as you mentioned, we have pressure from the eu, from the united states, but also, a negotiation being led by regional governments, namely mexico, brazil and colombia, which are trying to broker some kind of agreement that would see the results of the election come out and potentially a change in administration if those results are indeed confirmed favouring the opposition.— the opposition. what do you think might _ the opposition. what do you think might happen - the opposition. what do you think might happen next? . the opposition. what do you | think might happen next? of think might happen next? of course there is a huge amount of pressure as you have just outlined on nicolas maduro and his government to reveal the results, to be more transparent about the outcome of this election. what will they do? in the short term, we are likely to see more pressure from regional leaders and i think this is crucial because right

now the nicolas maduro administration, if it continues, it will reach a new level of illegitimacy and a new level of illegitimacy and a new level of illegitimacy and a new level of sanctions and inability to trade, including with regional neighbours who have been if not supported, at least turned a bit of a blind eye to the situation in venezuela, have been accommodating the nicolas maduro administration. that is backfiring at home both in brazil and colombia, and the left in latin america cannot really afford to be seen as being complicit with an undemocratic process. so there is a lot of pressure regionally for some kind of deal to be brokered. for nicolas maduro, staying in power is costly because it would be a new level of isolation for the country, leaving power can also be very costly. so i think whatever negotiation happens will include some form of accommodation for the leadership in venezuela, that if they were power, they were

not necessarily in up injail, that something that the opposition will also have to take into account in any kind of negotiation.— take into account in any kind of negotiation. 0k. thank you. we will talk — of negotiation. 0k. thank you. we will talk to _ of negotiation. 0k. thank you. we will talk to you _ of negotiation. 0k. thank you. we will talk to you soon, - of negotiation. 0k. thank you. we will talk to you soon, i'm i we will talk to you soon, i'm sure. to evs now, after widespread reports of a slowdown in europe's battery electric vehicle market, here in the uk, the latest car sales numbers seem to follow suit, showing demand for new ev�*s slowing last month. so, how is the switch to electric vehicles going? the full figures will be out in a few hours' time and we can get a sneak peek now with james the trade body behind the data. the smmt. it is enjoying a period of unprecedented growth, 24 continuous months of growth in car sales. that is testament to

the overall resilience of the sector. what we are also seeing is the volumes of electric vehicles have also increased, continuing to see larger numbers of these vehicles and people are making the switch and there is more choice than before. we are seeing the proportion they make up of the market is broadly the same as it was last year, whereas ultimately in the uk because our key target for ev uptake, that percentage needs to increase. that percentage needs to increase-— that percentage needs to increase. �* ~' , ., increase. are we unlikely to meet those _ increase. are we unlikely to meet those targets, - increase. are we unlikely to meet those targets, do - increase. are we unlikely to meet those targets, do you | meet those targets, do you think? that meet those targets, do you think? �* ., think? at the moment, the taruet think? at the moment, the target for _ think? at the moment, the target for each _ think? at the moment, the l target for each manufacturer think? at the moment, the - target for each manufacturer is 22% of new vehicle, car sales this year should be zero emission vehicles. looking at the overall market share it suggests 18.5% of that vehicle sales this year would be battery or electric. there are some challenges ahead. there are flexibility within the

regulation which means over performance in the coming years is more evs come to market will help offset those targets but there are big challenges. what we are seeing is that the fleet market is making significant investment in electric vehicle sales now so we are seeing real growth there. but we need for this transition to be available and work for everyone which means we need to use the consumer as well.- means we need to use the consumer as well. what about infrastructure, _ consumer as well. what about infrastructure, how _ consumer as well. what about infrastructure, how is - consumer as well. what about infrastructure, how is that - infrastructure, how is that going, charging points, etc? it continues apace and we continue to see more widespread charge point distribution across the uk. what concerns that remains is the charge point anxiety, the ability to find a charge point wherever and whenever you require. it is worth bearing in mind that the average range of a new ev is 230 to 250 miles arising a single charge. it is double the weekly mileage. while there are fears or sentiment among the public that

betteridge ranges in sufficient, that is not the case. ., ~' sufficient, that is not the case. . ~ , ., sufficient, that is not the case. ., ~ ., ., case. 0k. thank you for that, james. case. 0k. thank you for that, james- we — case. 0k. thank you for that, james. we will— case. 0k. thank you for that, james. we will look- case. 0k. thank you for that, james. we will look out - case. 0k. thank you for that, james. we will look out for i case. 0k. thank you for that, | james. we will look out for the full detail on your data in the hours ahead as it gets released. take a look at the situation in europe. what is the trend there? for more, i'm joined by anna—marie baisden, head of autos and infrastructure research at bmi. good morning to you. you are listening to james there, talking about the uk. what about the rest of europe? i think we are seeing the situation in europe where a situation in europe where a situation in europe where a situation in that the actual growth in sales are starting to slow even though volumes are still pretty promising. we've seen some key markets in europe such as germany withdrawing its for ev purchases, but of the interesting things we have seen is a shift towards hybrid models, so even where people think maybe evs are too expensive or they still have that range anxiety that james

referred to, there is still a desire that verbally —— by clean vehicles. for any carmakers that have the flexibility to have more hybrid models on offer, there is a good period of advantage for them. . ., . good period of advantage for them. . ., , ., , them. the changes we have seen is the move _ them. the changes we have seen is the move on _ them. the changes we have seen is the move on europe _ them. the changes we have seen is the move on europe to - them. the changes we have seen is the move on europe to impose j is the move on europe to impose tariffs on chinese made electric vehicles, ey dave seen as a very big competitor europe -- byd. as a very big competitor europe —— byd. how are they doing in europe? -- byd. how are they doing in euro e? ., -- byd. how are they doing in euroe? ., ., , ., , ., europe? for the early months of the ear europe? for the early months of the year we _ europe? for the early months of the year we saw _ europe? for the early months of the year we saw their _ europe? for the early months of the year we saw their share - the year we saw their share remain in quite stable. they held about 8% of the ev market in europe stop but when we got monthly sales forjune, that had increased to 11% and i think we saw may be some pre—emptive buying for the tariffs came in injuly, so what we are looking for injuly numbers is what has happened to the share, has been by tariffs? it is interesting because that is a change and shift that has been going on. talking of range

anxiety, this time of year across europe, many are in their cars and going on long journeys as they go on holiday, and it is extremely busy on the roads in many countries right across europe, and that really does impact demand for those charging points, etc, doesn't it? it charging points, etc, doesn't it? ., , ., ~ , it? it does, and i think this is again — it? it does, and i think this is again another— it? it does, and i think this is again another reason - it? it does, and i think this is again another reason forj is again another reason for seeing the move towards hybrid is because people still want that certainty. i think the jump that certainty. i think the jump to full battery electric with a big jump anyway, and now prices increasing over the past couple of years, that made up the minds of a lot of people that if they do have these long journeys, as you say and full evs are a lot more expensive, they will go hybrid instead. interesting. good to have your take on what is happening. thank you. around the world and across the uk, this is bbc news.

iam i am sally bundock with business today. to tech now, and what's known as a �*pig butchering' online scam. this is apparently a type of romance scam that uses fake online personas to trick people into fraudulent investments. don't worry if you haven't heard of it. i haven't either. but the approach — as you'll see — may be all too familiar. 0ur cyber correspondent joe tidy decided to find out more when he was targeted on instagram by fraudsters pretending to be a woman called jessica. so, that's how it all started.

it was a direct message on my personal instagram, but i of course knew straight away this was some sort of scam. it had to be. but i wasn't sure which. so i decided to play along. i want to see if these pictures are of a real person. they're being used by lots of scammers on dating sites. and here is the real person — a german influencer. i'll warn her that her pictures are being used. this explains a lot. jessica has just sent me a screenshot of her cryptocurrency profits — $47,000, and she's basically saying "you can be rich too". so, as suspected, and much to my wife's relief, this is indeed a pig butchering scam.

jessica has now asked me to spend some money. i said i've only got £200. and what's interesting is jessica has made me feel very poor. we've been doing this really complicated process of fake trading now well over an hour, and i can see my profits rising. but of course it's all fake. there's no way that people would go through this process if there wasn't that little hook of potential romance. this isn'tjust about the money. this is about something more romantic. in the flurry of instructions thatjessica sent me, she accidentally sent me one of her own instructions, which has chinese writing. also, if you look at one of her pictures from the very early days of her instagram account, that too has some items in a shopping trolley that are in chinese. i wonder where she is. what i do know is they're making a lot of money. sometimes these people involved in pig butchering, they are, in a sense, victims themselves.

they're part of big call centres that are kind of lock you in and take your passport. so i want to know who is behind the jessica account. we've had eight weeks of keeping up this pretence and now they've just dropped it. and now they're trying another way to get money. i don't really believe what they're saying is true. i think they're just trying to find a way to get me to pay them more money. a big warning, so stay safe online out there. staying with tech, and moving into the world of digital currencies. countries around the world are exploring their introduction and here in the uk, the bank of england is conducting a series of experiments

for its uses. looking to develop a central bank digital currency — using similar technology to other crypto—currencies — to create what's been dubbed the �*britcoin', which could be used for large transactions that banks make such as buying government bonds. to help explain all this, joining me now is crypto expert katharine wooller, managing director dacxi uk. good to have you on the programme. what is the bank of england considering or looking into? i england considering or looking into? ~' , , ., england considering or looking into? ~' , , ., , ., into? i think cvd is a is a su er into? i think cvd is a is a super interesting, - into? i think cvd is a is a super interesting, there l into? i think cvd is a is a l super interesting, there is lots of reasons to consider them —— cbdc. lots of reasons to consider them -- cbdc. it lots of reasons to consider them —— cbdc. it is a great innovation. it is part of a real wave of payment innovation and basically they don't participate in having cutting—edge financial technology to risk being left behind. ~ , .,

technology to risk being left behind. ~ i. technology to risk being left behind. a behind. when you say cbdc, we mean central _ behind. when you say cbdc, we mean central bank _ behind. when you say cbdc, we mean central bank digital - mean central bank digital currencies, to get rid of any java in our viewers might find a basslink. ——jargon. any viewers might find baffling. it is based on block training technology. to is based on block training technology-— is based on block training technology. to be clear, it doesn't — technology. to be clear, it doesn't mean _ technology. to be clear, it doesn't mean that - technology. to be clear, it doesn't mean that the - technology. to be clear, it i doesn't mean that the pound will be replaced by victorian orany will be replaced by victorian or any other dough, it means leveraging those technologies. making sure the currency is digital. it is similar to the massive wave we have moving from cash to digital online payments, the higher level at the central bank level. there is lots of countries that are looking to do that. there is a good research that shows over 130 countries are doing it and the account to 98% of global gdp. lots of countries looking to really make an advantage of the new technology for all the reasons that it brings in terms of efficiency and hopefully in

terms of social inclusion as well. ~ ., ., , terms of social inclusion as well. . ., ., , , well. what does it bring in terms of _ well. what does it bring in terms of challenges - well. what does it bring in terms of challenges when | well. what does it bring in | terms of challenges when it comes to regulation, for example?— comes to regulation, for example? comes to regulation, for examle? . ., _ , example? obviously each country that is considering _ example? obviously each country that is considering cbdc, - example? obviously each country that is considering cbdc, the - that is considering cbdc, the vast majority are in project stage, and there is some real challenges in terms of regulatory framework because it is new technology, the industry has only been around for a five or six years now. getting the framework which was initially created for technology decades old is quite challenging. you have some really complex challenges and a completely different framework. there are lots of things people are concerned about with cbdc, primarily privacy, whether it could be used for human rights abuse.~ . could be used for human rights abuse. ~ ., ., ., . ~ abuse. what about hacking, the -roblem abuse. what about hacking, the problem of _ abuse. what about hacking, the problem of we _ abuse. what about hacking, the problem of we recently - problem of we recently experienced where there has been a computer grade and it caused disaster, but also, the issue of cyber security and

vulnerability to hackers? there is hue vulnerability to hackers? there is huge operational _ vulnerability to hackers? there is huge operational risk - vulnerability to hackers? there is huge operational risk in - is huge operational risk in that, and banks aren't technology companies, they are relying on other families providing that technology. in the grip sense, a lot is still being worked out and a lot of different technologies within that space. banks have also always been at risk of cyber attacks and you need to be super resilient and the techies developing at a phenomenal rate and keeping up with a rate of change can be super challenging particularly they are looking to leverage that.— particularly they are looking to leverage that. thank you for exolaining _ to leverage that. thank you for exolaining it- _ to leverage that. thank you for explaining it. so _ to leverage that. thank you for explaining it. so early - to leverage that. thank you for explaining it. so early on - explaining it. so early on monday morning. it is a challenge in itself. thank you very much indeed. let's take a look at the markets. 0ur our top story is today our top story is today in our top story is today injapan our top story is today injapan they are seeing heavy losses, as you can see on the screen, dear 8% decline for the main

market, the nikkei 225. the yen hit a six—month high following the usjobs data detail that came through friday, which has fanned fears of a hard landing, a possible recession in the world was a top economy, the us. looking at the next board, reminding you of the sell—off on wall street on friday, some of the big losers including the likes of hammers on an microsoft. many saying this is purely taking, a market correction as these markets and the snp in particular have been running a record—breaking run for many, many days in a row. an ai fuel rally this year so profits have been taken. we shall see how european markets that delay a little later. i will be across it here for you on bbc news. hello there. the weather's looking quite mixed

for this upcoming new week. generally speaking, lower pressure will affect more northern parts of the country. and it is here where we'll see outbreaks of rain, whereas further south, closer to higher pressure, this is where we'll see the drier and warmer weather with some sunshine. now, this area of low pressure could bring some issues for the northwest of the uk with heavy rain. could see some local flooding in places, particularly argyll and the highlands. so a very wet, windy start to monday here. eventually, the rain begins to push southeastwards through the day, brightening up behind it and the winds easing, but a blustery day further south and east. but much of england and wales will be dry, with variable clouds, some sunshine and feeling much warmer and humid again, up to the high 20s here, mid 20s further north. now, that band of rain, some of it heavy and thundery, will affect western england and wales through monday evening. during the night, it begins to fizzle as it pushes its way towards eastern england. but ahead of it, it will stay warm and muggy. behind it, in the clearer skies, it'll be cooler and fresher. plenty of sunshine in the north

and the west to start tuesday, that weather front weakening as it pushes towards east and southeast england. it eventually clears away, skies brighten up as well, so not a bad afternoon. just a few blustery showers for western scotland and northern ireland. those temperatures range from around 18 to 24, 25 degrees in the southeast. now, that area of low pressure begins to move. on wednesday, it's sitting across the northern half of the country. that's going to bring a windy day to much of scotland, northern ireland, the far north of england, with showers or longer spells of rain. so those rainfall totals really beginning to mount up at this point across western scotland. but for much of england and wales, a dry day to come, quite a bit of sunshine around, variable cloud. yes, it will be breezy here, not as windy as it'll be further north. and these sorts of temperatures, pretty much what we expect this time of year — around the high teens in the north, low 20s further south. as we move out to wednesday into thursday, that area of low pressure pulls away, but another one hot on its heels starts to push in off the atlantic. and this one, i think, will bring a more widespread, cloudier, wetter, windier day, certainly across central, northern and western areas. once again, the rain will be heavy

across the northwest. but it could be perhaps the midlands, southern, southeast england could stay dry altogether. top temperatures 23 degrees, given some brightness, high teens further north. and for the end of the week, it looks like it stays unsettled across more northern areas, with the greater chance of seeing sunshine and warmth across the south and southeast.

good morning, welcome to breakfast with sarah campbell and ben thompson. 0ur headlines today. violent clashes in towns and cities across the uk over the weekend following the fatal stabbing of three young girls in southport. the prime minister has condemned the disorder and is due to hold an emergency cobra meeting today. here in rotherham, you can see the destruction that has been left behind after this hotel thought to behind after this hotel thought to be housing asylum seekers was stormed. in southport, the town comes together to remember the girls killed and others seriously injured a week ago today. are you owed compensation on your carfinance deal? the financial regulator says it needs more time to investigate thousands of complaints but could it now mean a payout is more likely? i'll have the details. four more medals for team gb on day nine of the olympics. but it's noah lyles who takes the title as the fastest man

in the world, the new 100m olympic champion, by five