british tech entrepreneur mike lynch and his daughter hannah are among six people missing after a yachting tragedy in sicily. we'll hear about the significance of mr lynch in the business world. as kamala harris and joe biden address the democratic national convention — we hear the latest economic pledges from the us presidential candidates. donald trump says he'll do away with big incentives for electric vehicles. it's japan's biggest ever foreign takeover bid and shares in the 7—eleven owner have soared — its president has been speaking to the bbc. and we find out why britain is topping the work—from—home league table. a warm welcome to business today. we start.

the british tech tycoon mike lynch and his 18—year—old daughter are among six people missing after a luxury yacht sank off the coast of the italian island of sicily in the early hours of monday morning. mr lynch, known by some as "the british bill gates", co—founded software company autonomy, which was later bought by tech giant hewlett—packa rd for $11 billion. an intense legal battle following the high—profile acquisition loomed over mr lynch for over a decade. he was acquitted in the us injune on multiple fraud charges — he was facing two decades injail if found guilty. here's our business editor simonjack. mike lynch has been considered a giant of the uk business for nearly three decades. the cambridge phd student who built a cutting—edge technology company before selling it for

£9 billion to american giant hp who later accused the company of inflating their profits. that kicked off over a decade of legal wrangling that saw him extradited in handcuffs to the us to face fraud charges. in june he walked free and less than three weeks ago described the moment the usjury than three weeks ago described the moment the us jury quitted him. the moment the us “ury quitted him. �* , ., ., the moment the us “ury quitted him. �*, ., ., ,. , him. it's hard to describe the moment. _ him. it's hard to describe the moment. you _ him. it's hard to describe the moment, you are _ him. it's hard to describe the moment, you are reliant - him. it's hard to describe the moment, you are reliant on i him. it's hard to describe the | moment, you are reliant on 12 ordinary people. until you hear the words, you cannot comment and at that point indescribable when you jump between two universes. hp when you 'ump between two umveerss’— when you “ump between two universes— universes. hp still insists it was misled _ universes. hp still insists it was misled and _ universes. hp still insists it was misled and in - universes. hp still insists it was misled and in 2018 - was misled and in 2018 autonomy�*s chief financial officer was convicted of fraud but mike lynch is still revered by other british technology founders. by other british technology founders-_ by other british technology founders. , founders. mike is a was been seen as a _ founders. mike is a was been seen as a legend _ founders. mike is a was been seen as a legend and - founders. mike is a was been seen as a legend and tighten| seen as a legend and tighten and inspiring figure for reddish entrepreneurs. that's because he both understands

mathematics deeply and how you can use it to solve business problems. can use it to solve business problems-— can use it to solve business nroblems. ~ ~' , . . , problems. mike lynch recently said he wanted _ problems. mike lynch recently said he wanted to _ problems. mike lynch recently said he wanted to get - problems. mike lynch recently said he wanted to get back- problems. mike lynch recently said he wanted to get back to l said he wanted to get back to doing what he enjoyed most, innovating. there are grave doubts he will get that chance. simonjack, bbc news. a co—defendant in the us fraud trial of mr lynch was stephen chamberlain — the former vice president of finance at autonomy. on monday evening it emerged that mr chamberlain had died of his injuries after a road accident in cambridgeshire on saturday morning. his lawyer said mr chamberlain had been fatally struck by a car while out running. mr chamberlain was also acquitted by a jury in san francisco injune. let's turn to benighted states. as you have been seeing if you're watching us earlier on bbc news, in chicago the first day of the national convention has just wrapped up and what a

start. a surprise speech from kamala harris, we heard from joe biden in a very emotional and tearful speech that brought the first day to an end. in the meantime on monday the rally on wall street continued. us markets closed higher on monday. investors are hoping the federal reserve will signal it's ready to cut interest rates when fed chair jerome powell speaks atjackson hole on friday. there is a lot going on in the united states. here's our north american business correspondent michelle fleury in new york. conflicting economic data has had wall street on a rollercoaster ride of wheat. right now it is on an upswing, the snp 500 rose i%, the tech heavy nasdaq rose 14% while the dowjones industrial average climbed six tenths of a percent. stocks you may recall tumbled earlier this month after a disappointing monthly

jobs report. since then they recovered thanks to some encouraging data including the latest retail sales figures. it's notjust latest retail sales figures. it's not just financial latest retail sales figures. it's notjust financial markets feeling more positive, the banking giant goldman sachs has cut its odds for a recession to 20% from 25%. now the focus turns to federal reserve chair jerome powell who was due to address a gathering of central bankers this friday at a symposium injackson hole. with investors anticipating a rate cut in september they are looking for clues on future rate policy. first thousands of democratic officials, vips and journalists are descending on chicago this week for the democratic national convention. i've because it is a chance for the party to show support for their nominee, kamala harris, but with republicans attacking democrats and failing to bring down the price of food and groceries, expect plenty of talk about the economy as well.

let's talk you through what we heard so far. us vice president kamala harris is proposing to increase the corporate tax rate to 28% from 21% if she wins a november election. the committee for a responsible federal budget, a non—partisan advocacy group, said on monday that harris�* proposal to raise the corporate income tax rate would reduce the us deficit by $1 trillion over a decade. republican presidential candidate donald trump has said he would consider ending a $7,500 tax credit for electric—vehicle purchases — known as the ev mandate. he also said he would consider a cabinet role for elon musk — the man behind the tesla empire. i'm sure you are well aware of that. i'm a i'm a big fan of electric cars but it will be a smaller

market. they don't go far enough and they are very expensive. what i would do is very strongly rescind the mandate because the mandate is ridiculous, people want to buy a gasoline powered car propelled car, if they want to do that then they should. if they want to buy a hybrid should be able to buy a hybrid. would you consider having elon musk_ would you consider having elon musk having an advisory position in cabinet? | musk having an advisory position in cabinet? i would, his very smart, _ position in cabinet? i would, his very smart, had - position in cabinet? i would, his very smart, had a - position in cabinet? i would, his very smart, had a great i his very smart, had a great talk with the other day and it went on board 2.5 hours and perhaps you were listening but he's a very smart guy. i certainly would, who is a brilliant guy. shares of trump media & technology group, the company behind former president donald trump's truth social, have hit their lowest level since listing on the nasdaq as the democratic national convention kicks off in chicago. on monday, shares were down almost 3% — bringing its market cap to $4.4 billion.

an awful lot going on. let's hear now from axel rudolph, senior technical analyst at ig group. good to see you. there's a lot for people to die just here, michelle was talking about jerome powell speaking jackson hole at the end of the week, so much attention will be on what he has to say for financial markets. you have kamala harris coming up with various economic ideas, her policies if she were to get into power. also donald trump as well. your thoughts? definitely, this week will be very important with the symposium and we will see what jerome powell also with regards to interest rates and whether we will see a widely anticipated 25 basis point rate cut in the united states in september. right now the financial markets are pricing in probably about another in total 94% basis points rate cut before the end of this year. i

would probably still lead to further upside in equity markets notjust in the us but also in the united kingdom and europe. also in the united kingdom and euro-e. ~ s also in the united kingdom and euro-e. ~ ., ,, also in the united kingdom and euro-e. s ., .,~ also in the united kingdom and euro-e. ~ s .,~ ., europe. what you make of the idea on the — europe. what you make of the idea on the part _ europe. what you make of the idea on the part of _ europe. what you make of the idea on the part of kamala - idea on the part of kamala harris to increase the corporate tax rate in the us to 28%? that is significantly higher than ireland, they would be higher than here in the uk, france and germany, slightly lower than germany actually. your thoughts on that? it’s lower than germany actually. your thoughts on that?- your thoughts on that? it's a very courageous _ your thoughts on that? it's a very courageous move - your thoughts on that? it's a very courageous move of- your thoughts on that? it's a very courageous move of her your thoughts on that? it's a i very courageous move of her to even talk about this but by showing that the democrats can actually reduce the huge american deficit she may be on the right track and she may win over the republican voters by doing so. since the united states is still the world's largest economy, i think that this policy would still work because there is still going to because there is still going to be a lot of trade with the us and whether corporation taxes is higher in the us itself will not make much difference to outsiders. but it is certainly

going to fill up the caucus in the united states in regards to its policy and i believe that the move is probably a very clever one with regards to winning voters over to the democrats.— democrats. also quite interesting _ democrats. also quite interesting is - democrats. also quite interesting is elon - democrats. also quite i interesting is elon musk democrats. also quite - interesting is elon musk in the past couple of hours has tweeted "i am willing to serve." with butter of him added podium with the department of efficiency on it and it is an interesting scenario unfolding between them and donald trump talking about getting rid of a credit for buying electric vehicles. those incentives to americans to buy greener cars?— greener cars? yes, quite interesting _ greener cars? yes, quite interesting because - greener cars? yes, quite interesting because we l greener cars? yes, quite l interesting because we are talking about the trump media shares being down to below the levels they were at when they basically became public. at the same time you have donald trump talking about elon musk, the

owner of twitter, basically the two are in competition but for a governing perspective it makes sense to have a high profile person such as elon musk on your side a gas for the republicans. musk on your side a gas for the republicans-— musk on your side a gas for the republicans. indeed. we should kee . republicans. indeed. we should keen a republicans. indeed. we should keep a close _ republicans. indeed. we should keep a close eye _ republicans. indeed. we should keep a close eye on _ republicans. indeed. we should keep a close eye on that. - republicans. indeed. we should keep a close eye on that. thank| keep a close eye on that. thank you very much for your time. thank you for having me. shares of seven & i, the owner of the 7—eleven convenience store chain, soared by around 23% on monday after it revealed a takeover bid from canada's alimentation couche—tard — which runs the circle k chain of convenience stores. the details of the offer have not been disclosed, but with seven & i now valued at around $38 billion it would be the biggest foreign takeover of a japanese firm. it would beat the $18 billion paid by private equity for toshiba's memory

chip arm in 2018. they were down about 8% today just typical a day after a huge surge with investors taking profits. the president of seven & i holdings ryuichi isaka has been speaking to mariko oi, who asked him about his global empire that employs some 70,000 people around the world. this is the sensation on tiktok in thailand. 7—eleven's toasty. i am at 7—eleven in singapore and here they local speciality is this area it varies depending on countries. born in the us originally to sell blocks of ice and daily necessities in the 70s, the japanese owned chain now poses global empire eddey 5000 stores, about double mcdonald's

or starbucks. this is the man who is in charge of the empire. ryuichi isaka. he wants to expand it even more. translation: expand it even more. tuna/mom- expand it even more. translation: ~ ., ., , translation: we have more saws than mcdonald's _ translation: we have more saws than mcdonald's or _ translation: we have more saws than mcdonald's or starbucks. - than mcdonald's or starbucks. but mcdonald's operates in about hundred and ten countries. starbucks about 90 countries. starbucks about 90 countries. we are excel reading overseas expansions. in april we completed an acquisition of 7—eleven australia and its 750 stores. we are also big in asia. mlb and they have about 300 stores in europe. bind asia. mlb and they have about 300 stores in europe. and there is some serious _ 300 stores in europe. and there is some serious obsession - 300 stores in europe. and there is some serious obsession with i is some serious obsession with japanese convenience stores. during the patronage of celebrities. while 711 operates in many countries, most customers say there stores in japan rule them all. because of the fresh food selection. that is something ryuichi isaka is trying to address overseas. translation: we trying to address overseas. translation:— trying to address overseas. translation: ~ ., . ., ., , translation: we notice a gap in performance _ translation: we notice a gap in performance between _ translation: we notice a gap in performance between different i performance between different contraries. we found is stores

which sell fresh food on attracting many more shoppers. we want to grow with high—quality, notjust increasing the quality. want to sure customers are happy and increase sales of each stores while increasing the number of stores. in order to achieve that, we need to build a local supply chain, just as we did in japan. fies supply chain, 'ust as we did in ja-an. �* , s supply chain, 'ust as we did in ja-an. a. , supply chain, 'ust as we did in jaan. , . supply chain, 'ust as we did in ja-an. a. , . , japan. as a company which gets 60% of its _ japan. as a company which gets 60% of its revenue _ japan. as a company which gets 60% of its revenue from - japan. as a company which gets 6096 of its revenue from selling | 60% of its revenue from selling food, food waste is a huge issue. translation: ., ., issue. translation: , ., issue. translation: , translation: our goal is to cut c02 emissions _ translation: our goal is to cut c02 emissions and _ translation: our goal is to cut c02 emissions and reduce - translation: our goal is to cut c02 emissions and reduce food i co2 emissions and reduce food waste by 50% by 2030. and by 75% by 2050. to achieve this goal, we took an innovative approach to extend the shelflife of the food. we empowered store owners to discount food nearing its expiration date to sell products rather than waste to date 90% of stocks participate

in the initiative. the pilot test stores successfully reduced waste by 10% initiative and agreement of approximate before hundred stores with nonperishable food donations to help community members in need. let's go live to tokyo and speak to duncan clark — chairman and founder of bda — a business advisory firm. welcome to bbc news. let's talk about this huge takeover offer that has come through this week. the canadian company behind the circle k chain looking to get hold of 7—11, your thoughts on that would be successful? it your thoughts on that would be successful?— successful? it is a bold news as ou successful? it is a bold news as you described _ successful? it is a bold news as you described it _ successful? it is a bold news as you described it would - successful? it is a bold news as you described it would be | as you described it would be the largest acquisition in japanese corporate history, it is a symbol even if it doesn't go through, a renewed interest injapan, which was seen as a fortress before, with major changes happening in corporate governance especially from last year driven by the government agency to make japan more open

to foreign investment. we will see there are sceptics but it is symbolic of a new era for japan. is symbolic of a new era for ja nan. ~ ., , is symbolic of a new era for ja-an. s ., , , japan. who else then could be sna- ned japan. who else then could be snapped tip — japan. who else then could be snapped tip given _ japan. who else then could be snapped up given what - japan. who else then could be snapped up given what you . japan. who else then could be l snapped up given what you have just said it is easier for foreign takeovers, our other companies up for grabs? it is interesting — companies up for grabs? it is interesting it _ companies up for grabs? it is interesting it is _ companies up for grabs? it is interesting it is a _ companies up for grabs? it 3 interesting it is a 2—way street, the japanese yen is very low which makes japan an attractive target for foreign buyers but it compels japanese companies to accelerate the globalisation because they faced a shrinking domestic market. we have got both ways japanese companies acquiring overseas but the big interest in foreign companies acquiring his. with seven & i and 7—11 the amount of tourism that has happened in this country, the videos of celebrities coming to japan there is a wave of soft power, a soft power way that is not the main driver but interesting japan is back, much more relevant culturally and socially than it has been for decades. there are reasons

china has become very difficult or private equity and for corporate and so this is japan's time to shine. it’s japan's time to shine. it's interesting _ japan's time to shine. it's interesting you _ japan's time to shine. it's interesting you should say that interesting you should say that in recent weeks japan has been through quite a tumultuous time, the markets had a really volatile week a few weeks ago, the promise to announcing he will not stand again, it feels like a very unusual time, people could be a bitjust comparable —— and populated in japan. comparable -- and populated in ja-an. , s comparable -- and populated in ja-an. , ., , comparable -- and populated in ja-an. ,. , japan. there is a big gap between _ japan. there is a big gap between the _ japan. there is a big gap between the public - japan. there is a big gap i between the public markets japan. there is a big gap - between the public markets and the global and local, the politics, it is a time of change, after a time of stagnation for decades. when i came here when i was 1830 years of nothing happening after that and suddenly a lot is happening and suddenly a lot is happening and due to what is happening in china. japanese corporate themselves have become global players people don't realise how global are many americans don't realise 7—11 was japanese

owned and has been for a long time, we are seeing what 7—11 is trying to do in the us bring the good stuff from japan the fresh food, there is a cultural interest injapan which can help japan based companies, interesting to see of a canadian friars will rival this, japan culturally is trending right now. japan corporate �*s need to be more international, there are not enough english speakers in japanese companies there are more international directors forjapanese companies but a problem forjapan's ability to go global and so it will be a target for some time. interesting to get your take, thank you duncan, good to see you. duncan clark — chairman and founder of bda. around the world and across the uk. this is bbc news.

you are with business today.

let's now talk about energy and european gas prices have remained steady despite ukraine's attack on russia near the sudzha gas transit hub. european gas storages are more than 89% full, according to data from gas infrastructure europe, the target is 90% full by november 1st, so europe is in a strong position. live now to christof ruehl, energy expert at the center on global energy policy at columbia university. a warm welcome to bbc news. why have european natural gas prices increased this summer? good morning, ithink good morning, i think for three principal reasons, one is that we had a hot summer not necessarily for the uk or the rest of europe but asia and the us, and because natural gas is used as a feature for electricity and electricity is used for calling we had high demand. there is always the possibility second in the fear

of supply disruptions in the big thing that loomed at the beginning of the year was a decision by the biden administration to put a moratorium on natural gas exports, the main reason was the ukrainian invasion of the kursk region of russia and the town of sudzha the presence of a transit and measure region a reminder that europe actually still as far away from completely wetting itself off from russian gas imports, 15% of russian gas consumption still comes from russia and many people had forgotten about and ukrainian incursion brought that back on the agenda. if storage levels reach 90% as expected and highly likely they will do so by the end of cobo, beginning of november doesn't that put europe and a strong

position for the winter season as we saw last winter, going into last winter i remember there was concern about energy but storage levels were high? well we all remember last winter, the previous one the jitters we had in europe i am speaking to you from germany, the heating would be off and lights would go. europe is in a strong position with very exceptionally high storage levels but it is not necessarily a condition for a warm winter. even full storage levels carry over for two months, and so you need to some extent to rely and continued flows even during the winter and to some extent to a large extent last winter, we were very lucky because it was a very lucky because it was a very mild winter. had the winter been tougher, probably would have not have ended as well as it did last year and who knows what the coming winter is going to bring.

thank you very much. christof ruehl. do you work from home? is your daily commute a move from your kitchen to your at home office? well since the covid—19 pandemic many have opted for that work lifestyle. the latest research shows that english—speaking countries have the highest levels of home—working around the world with the uk leading europe in the home—working league table according to the global survey of working arrangements from wfh research. why is that? mark mortensen is associate professor of organisational behaviour at insead, an international business school. great to have you on the programme. why are so many working from home in the uk? 50 working from home in the uk? so i working from home in the uk? sr i think it is would like to jump i think it is would like to jump and say it is a language thing, it is really a question about more individual versus a collective mindset, one of the things we know, a lot of english—speaking countries us,

uk, australia they lean towards a more individualistic mindset in terms of what the key benefits are. there is a language piece in their they are very low context languages it is easy for us to communicate and we say what we mean rather than high context countries like japan, china, spain france where it is more high context a lot more hidden meaning which doesn't really lend itself to working remotely as well. is lend itself to working remotely as well. , ., as well. is it a positive thing more peeple _ as well. is it a positive thing more people work— as well. is it a positive thing more people work from i as well. is it a positive thing i more people work from home? it depends on two things, how you define work from home is this full—time, part—time, depends on how you define productivity. on the positive side autonomy, we know is a very good thing, great for employee morale grateful engagement, and you get a lot of other benefits less commute time and greater inclusivity and access to a labour paul. on the flipside you get less opportunity for the unplanned interactions, the

watercooler coffee pod kind of chat, which are actually critical for things like information sharing, criticalfor things like information sharing, building social ties, career visibility and things like that and it makes it harder to foster a sense of connection and a lot of collective outcomes, there are some things where it is a mixed bag, this work distraction you don't have a colleague collaborator always knocking at your door and bothering you, you have less work distraction is working at home but you get more home distractions, you put in a load of laundry or something else stopping the key is — it is a one size fits none situation a lot of the research i have done recently at harvard shows we need to be thinking about a more individualised experience, what are the key things that work for you compared to someone else.— work for you compared to someone else. i'm sorry we don't have _ someone else. i'm sorry we don't have more _ someone else. i'm sorry we don't have more time i i someone else. i'm sorry we i don't have more time i would love to unpack this further, we are out of time on business today. have a lovely day and i will see you soon.

hello. bouts of heavy rain and unseasonably strong winds feature in our forecast for the rest of this week. although tuesday isn't looking too bad on balance, some sunny spells, but also some hefty, blustery showers, particularly up towards the north west of the uk, closest to the centre of this area of low pressure. a lot of white lines. a lot of isobars squeezing together, indicative of some brisk winds. starting tuesday morning, with this frontal system bringing a little bit of rain across the far southeast that will clear. and then we're into that mix of sunny spells and hefty showers, the showers most plentiful across northern ireland and northern and western parts of scotland. some heavy thundery ones blown in on some brisk winds. in fact, increasingly windy across northern ireland, western scotland, the northwest of england. just 16 degrees for stornoway and 16 for belfast. compare that with 23 in norwich and then through tuesday night while things do quieten down briefly, a ridge of high pressure killing off most of the showers, giving some clear spells

and it is going to be a rather cool, fresh night, some places down into single digits. but as we head through wednesday, all change again. a frontal system bringing cloud and outbreaks of heavy rain through northern ireland into western scotland, some of that rain getting down into parts of northern england and north wales. it is going to be a windy day across these northern and western areas could be gales around some coasts in western scotland further south and east breezy but largely dry. 22 degrees in london, 16 for aberdeen and for glasgow. and then as we move through wednesday night into thursday, we continue to see this frontal system moving through, this one containing the remnants of what was hurricane ernesto. certainly not a hurricane any more, but an injection of moisture and energy, bringing some outbreaks of heavy rain southwards and eastwards with some really strong winds. we're looking at wind gusts of 40, 50mph or more

in a few exposed spots. these kinds of winds, pretty unusual for this time of year. temperatures north to south 14 to 22 degrees. we end the week on friday with the potential for more windy weather. certainly the potential for more wet weather, and it does look like staying rather unsettled as we head into the weekend. bye for now.

good morning, welcome to breakfast with ben thompson and sally nugent. our headlines today. six people are still missing as the search continues off the coast of sicily where a luxury yacht sank in freak weather conditions. presidentjoe biden receives a huge ovation ahead of a rousing farewell speech at the democratic national convention. one of those rare moments in history when the decisions we make now will determine the fate of our nation and the world. a rocket engine explodes during a test launch at the uk's new spaceport in shetland. pushing hard for a cure for mnd. we cheer on former rugby players billy twelvetrees and ed slater as they come to the end of their most recent cycle challenge.

back in the premier league.