monday's session in asia has been more muted and european markets are recovering. and there's not a lot of movement on wall street as us markets start their trading day because the focus is really on wednesday. that's when we get the latest us inflation data. the last reading showed prices rising at an annualised pace of 3% injuly, which is ahead of the 2% target that the central bank the federal reserve aims for. and that will have a big impact on interest rates. they are currently at a range of 5.25% — 5.5%. but a cut is widely expected in september. and with the us election campaign in full swing over the weekend the republican vice—presidential candidatejd vance has been reiterating what his new boss donald trump thinks about the future of interest rate decisions. he told cnn that �*the political

leadership of this country should "have more say over the monetary policy of this country." but the democratic candidate kamala harris believe the world's most powerful central bank should remain independent. i could not agree — disagree, excuse me, more strongly. the fed is an independent entity and as a president i would never interfere in the decisions that at the fed makes. what is your take on their policies right now? there was some concern last week that as the market felt there might that as the market fell there might be a recession coming, what is your view on that? there was some turbulence this week but it seems to have settled itself and we will see the decisions they make next. i hear about it at about the same time you do! vice president, harris, there. sarah binder is a professor of political science at george washington university

and has written a book examining the independence of the us central bank the federal reserve. thank you forjoining us. are you clear on what trump and his campaign mean by �*having a say�* because that's pretty vague? well, it is certainly vague. it could run the gamut from ways well, it is certainly vague. it could run the gamut from well, it is certainly vague. it could run the -amut from ways in could run the gamut from ways in which presidents have often tried to pressure the federal reserve, typically for lower interest rates. but, when we hearformer president trump and his running mate talk about it, it seems to have something about it, it seems to have something a little more aggressive in mind. something like giving an ex official seat on the committee that makes decisions about interest rates. the full range of issues and possibilities is unclear, it isn't clear what trump would do if re—elected. it clear what trump would do if re-elected-— re-elected. it would be revolutionary _ re-elected. it would be revolutionary in - re-elected. it would be revolutionary in the - re-elected. it would be | revolutionary in the usa re-elected. it would be - revolutionary in the usa for the fed, but it isn't without precedent around the world. until the late

19905 it was the chancellor of the exchequer who decided the interact rates, here. how important do you think this is? we rates, here. how important do you think this is?— rates, here. how important do you think this is? ~ ~ ., ., think this is? we know from the usa, historically. — think this is? we know from the usa, historically, where _ think this is? we know from the usa, historically, where we _ think this is? we know from the usa, historically, where we have _ think this is? we know from the usa, historically, where we have seen - historically, where we have seen pressure on the president. look at the 19705, nixon unleashing a decade of inflation. more recently, globally, in turkey and brazil and hungary, for example, there is certainly a world of populous pressure on banks. it doesn't always end well for their economies. inflation, financial instability, and higher prices. certainly, brain tumours consumers. you and higher prices. certainly, brain tumours consumers.— and higher prices. certainly, brain tumours consumers. you risk being that ou tumours consumers. you risk being that you cut — tumours consumers. you risk being that you cut rates _ tumours consumers. you risk being that you cut rates before _ tumours consumers. you risk being that you cut rates before the - that you cut rates before the election in the hopes of getting re—elected, but what would the mechanics be of making it a reality?

would president trump have to get congress on side? could he get it through executive order? weill. congress on side? could he get it through executive order? well, there are really two — through executive order? well, there are really two ways _ through executive order? well, there are really two ways to _ through executive order? well, there are really two ways to think - through executive order? well, there are really two ways to think about. are really two ways to think about what trump can do. first of all, most presidents, under the law, have appointments. they need the consent of the senate to put their favourite people onto the bench and onto the federal reserve. that is traditionally how presidents go about trying to shape interest—rate decisions by the central bank. the problem here is trump being sent back to the white house, and he is in the position there until may 2026, well into halfway through trump's potential term. so, there has been a lot of murmuring, and we saw this when trump was first in office, threatening to fire the chair. that would be a political and legal morass, and i don't know what

the financial markets would do, they probably wouldn't react well, since i think that they really do like the chair. so, yes. i think that they really do like the chair- 50. yes-— i think that they really do like the chair. so, yes. thank you. we will have to leave _ chair. so, yes. thank you. we will have to leave it _ chair. so, yes. thank you. we will have to leave it there. _ chair. so, yes. thank you. we will have to leave it there. thank - chair. so, yes. thank you. we will have to leave it there. thank you | have to leave it there. thank you forjoining us from george washington university. one of the world's richest men is facing fresh allegations from a us investment fund. a huge company belonging to the indian billionaire gautam adani , which is involved in everything from ports gautam adani, which is involved in everything from ports to renewable energy, has been under investigation by india's financial regulator since last year over fraud accusations. but now the hindenburg fund has accused the chair of the securities and exchange board of having links with offshore funds that were also used by associates of mr adani , which could have stopped it acting independently. the chair has denied any conflict of interest and mr adani's company denies wrongdoing, calling hindenburg's latest allegations �*malicious, mischievous and manipulative'. arunoday mukharji has more from delhi. the latest allegations

by hindenburg research ahead the latest allegations by hindenburg research accuse the head of india's market regulator, the securities exchange board of india, of having links with offshore funds also used by adani associates. it is also important to point out here that there is no direct evidence given of the investment having any links to a adani's stocks or any quid pro quo. having said that, the head of india's market regulator issued a statement denying any kind of conflict but did admit to having a small share in those funds. but this has been enough to blow into a massive political controversy, with india's opposition parties demanding a parliamentary investigation and, in fact, for a very long time, opposition parties have said that the meteoric rise of at adani is thanks to his proximity that the meteoric rise of adani is thanks to his proximity to prime minister narendra modi. an allegation that both the bjp and the prime minister and arranger and the prime minister and modi, have always vehemently denied. and even in this case the group issued a statement calling

the hindenburg report mischievous, saying that india's market regulator investigated all claims in the past and found nothing. but you will remember that last year, hindenburg research accused the adani group of market manipulation and fraud, which led to a wiping out of market capital worth over $100 billion of the adani group. what we saw on monday was also adani's stocks trading down and losing about $9 billion so clearly this is a controversy that is here to stay and dominate headlines. in other news: tensions in the middle east have led some airlines to extend their suspensions of flights to several countries. air france and its subsidiary transavia france have cancelled flights to beirut until at least thursday. germany's lufthansa group — which includes austrian airlines and swiss — is avoiding tel aviv, tehran, beirut and amman until at least august the 21st. it added that it would avoid using iranian and iraqi airspace until the same date. the british telecoms giant bt group is having a change of ownership. the company controlled by french billionaire patrick drahi is selling its 24.5% stake to a company run by indian

billionaire sunil bharti mittal for about $4 billion. bharti enterprises operates in 17 countries and says it has no intention of trying to buy the rest of bt group. the company is in the process of investing billions to upgrade the uk's broadband infrastructure. the rate of unemployment amongst young people around the world has fallen to a 15 year low according to the un's international labour organisation. it says that 13% of 15 to 2a year olds — which amounts to 65 million people — are not in employment, education or training has fallen and warns that number is a cause for concern. however there is an uneven picture around the world.

young women are more than twice as likely as young men to be jobless or not in education or training — and globally, more than half of young workers are in informal employment. now, france has bid "adieu" to the olympics but sports fans fear not: today is the start of the tour de france fam women's cycling event. with eight stages across three countries in seven days and a total of 946 km of cycling, it will be a gruelling — and thrilling — event. but what about the money? the men's tour de france carries all the usual cache and commercial interest of any major spots event; this year's men's winner put more than half a million dollars in his pocket. the winner of the tour de france fam will get around $54 thousand. 0ur correspondent anna holigan is in the hague where today's stage is ending. thank you forjoining us. i guess, not with progress women cosmic thought has made over the last few years in terms of viewer attention commercial attention, the price gap in the prize money does suggest that

the women's event has a big gap to close. w , the women's event has a big gap to close. .. , ., , h, the women's event has a big gap to close. , ., , ., close. exactly. that is the point of this event for _ close. exactly. that is the point of this event for many _ close. exactly. that is the point of this event for many people, - close. exactly. that is the point of| this event for many people, raising the visibility of e—mail cyclists. before we go into the business side of things, i want to see if we can show you a glimpse behind the scenes. we are in the heart for the first time, it is from outside of france and is taking place today in the heart. if we switch to a wide shot i can show you that i'm broadcasting from the bike puree. this is our mobile broadcasting studio which allows us to go right to the heart of sporting events —— the bike bureau. you can see here solar panels and everything else that you need for a mobile studio. it is a sustainable way for us to bring you the sports news. in this

case, the women's tour de france. this is the third women's tour de france, the fact it exists is for many a side of progress. many of the teams involved are starting to bring in minimum wages of 16,000 euros for their athletes. after the finish today, i cycled around and saw fans flocking towards one of the cyclists who has become a superstar and an icon of women's cycling. that will be the game changer for this. as the sport attracts more audiences and fans, it also attracts more advertisers, and then it becomes a no—brainer. there is a domino effect. the more people are interested in women's cycling, the more sponsors there will be. she has become a model for many pro cyclists. when young girls and see her cycling, they will see this as a

viable profession for them in the future. so, of course, this matters beyond the sport. it could have a knock—on effect, they hope, and they will be riding over the next seven days. the gruelling experience. indie days. the gruelling experience. we must leave it there. thank you for joining us. that is business today. stay with us here on bbc news.

hello i'm annita mcveigh. the pentagon says the us defence secretary lloyd austin has ordered a guided missile submarine to the middle east and has told an aircraft carrier strike group to sail to the area more quickly. that deployment of additional fighterjets and navy warships to the middle east was announced earlier this month, as washington seeks to bolster its presence following an escalation of violence between israel, and iran and its allies hamas and hezbollah. meanwhile leaders of the uk, france and germany have renewed calls for an for the immediate resumption of ceasefire

negotiations, saying the fighting must end and all hostages must be released. the latest push for a truce follows the killing of hamas's political leader ismail haniyeh, during a visit to iran. fresh talks for a ceasefire deal for gaza are slated for this week. hamas has urged mediators to implement an existing plan presented by president biden last month — and has ruled out new rounds of negotiations over the terms of a deal. israel said it will send a team of negotiators to take part. i spoke to the bbc�*s barbara plett usher and asked her where the ceasefire talks stand now. well, lucy, the mediators, that is the qatar and egypt along with the united states, have renewed a very intense push to try and get those ceasefire talks back on track and this is because of the regional tensions of the potential attack by iran following that assassination of the hamas leader on its soil. the us administration believes that a ceasefire deal in gaza

is a crucial to try and get the tensions down in the region