turning up the heat — uk energy prices are set to rise this winter as the regulator ofgem adjusts the price cap. plus, have you fallen out of love with dating apps? we delve into the multi—billion—dollar online romance business. and the rise and rise of competitive gaming — we take a look at the esports world cup ahead of this weekend's grand final. live from london, this is business today. i'm lukwesa burak. we start in chicago in the us — where, as we've been hearing, vice president kamala harris has just wrapped up the democratic national convention with what was arguably the most important speech of her career to date. in a positive outlook for the future of america,

the democrat nominee covered a wide range of issues from the conflict in gaza and the war in ukraine — to abortion rights. she also spoke in depth about what she called her middle class roots and about creating a future of opportunity for americans with an "opportunity economy". let's have a listen. my mother kept a strict budget, we lived within our means, yet we wanted for little. and she expected us to make the most of the opportunities that were available to us, and to be grateful for them. because, as she taught us, opportunity is not available to everyone. that's why we will create what i call an opportunity economy — an opportunity economy where everyone has the chance to compete and a chance to succeed.

so from one high—stakes speech to another. today all eyes from wall street to the campaign trail will be on the us central bank chair, jerome powell, when he speaks at the mountain resort of jackson hole. his words move markets across the world — as investors seek a steer on the direction of travel from the fed and its next all important interest rate call. michelle fleury has the details. in a few hours, jerome powell, the chair of the us federal reserve, america's central bank, will deliver his most important speech of the year. when he spoke two years ago at this gathering, which has become known as the davos for central bankers, the emphasis was on how taming inflation — which, at its peak, hit 9% — would cause pain. as part of that fight, the fed raised its benchmark rate to a 20—year high. fast forward to today, and with america's annual inflation rate dipping below 3%, and with signs that the jobs market

is starting to weaken, mr powell is expected to lay out a road map for the future direction of us interest rates. the betting is, he'll hint at a quarter—point rate cut in september, with more to follow. but he'll have to choose his words carefully. after a roller—coaster ride on wall street, calls for an emergency rate cut have subsided. however, financial markets remain on edge. and rivals for the white house kamala harris and donald trump will also be keen to hear what he has to say, given that the mood of americans heading to the polls in november — well, it's likely to be shaped in part by what the fed does next. for more i'm joined by russ mould, investment director, aj bell. by russ mould, investment hello. b russ mould, investmen- ., i] hello. b russ mould, investmen- ., mm hello. b russ mould, investmen- ., can hello. hello. iwonder if we can start — hello. hello. iwonder if we can start off— hello. hello. i wonder if we can start off with _ hello. hello. iwonder if we can start off with kamala i can start off with kamala harris. . from what we heard

today, what direction, or what indication is her investment plan for america going to look like if she becomes president? there was not a huge amount of detail provided, there was a comment about a tax cut middle—class americans, flexible to help them out of what has been a difficult time with inflation, and probably even more detail in what she said the week before in terms of child tax credits, getting a housing boom going, providing tax credits for first—time buyers and rising corporation tax but there wasn't much comment on the current tax plan of the binding of ministration for raising taxes in some areas which some have called a 5 trillion spent. not a lot of there. i understand why she is focusing on growth but the most eye—catching comment or injuring comment was about living within our means because thatis living within our means because that is one thing the biden administration has palpably failed to do. it will rack up something like 7 trillion deficit in four years so again all eyes will be on not so much the tax—cutting, but if tax

rises up and or if she can get them through once elected. it. them through once elected. if, if, if. if she _ them through once elected. if, if, if. if she is— them through once elected. if, if, if. if she is elected. - them through once elected. if, if, if. if she is elected. she - if, if. if she is elected. she made a — if, if. if she is elected. she made a call— if, if. if she is elected. she made a call for _ if, if. if she is elected. she made a call for unity, - made a call for unity, basically. how united is her party on her economic plans? there are certain issues that she seems to keeping fairly quiet on, one of which is this 5 trillion tax plan if indeed thatis 5 trillion tax plan if indeed that is how the numbers add up, and also fracking where the biden administration has taken a stance against it, kept the oil price down, but pennsylvania is a huge swing state in the election, a big area for fracking and fracking jobs so that is perhaps one area of economic policy that will come underfurther will come under further scrutiny as we get closer to the election date in november. and let's talk about what we will hear from jerome powell later. the weight that his words carry for the world. can

you put it in context which in america is the world's largest economy, the largest stock market, the largest bond market, the largest bond market, hope to the world reserve currency some of the global economic engine stalls or something unusual happens to its currency, they could be ripple effects all its currency, they could be ripple effects— ripple effects all the way around the _ ripple effects all the way around the world. - ripple effects all the way around the world. so - ripple effects all the way - around the world. so whether we like it or not, whatjerome powell says it can indeed have substantial implications for pretty much all of us. find substantial implications for pretty much all of us. and yet we have seen _ pretty much all of us. and yet we have seen some _ pretty much all of us. and yet we have seen some of - pretty much all of us. and yet we have seen some of the - pretty much all of us. and yet| we have seen some of the love that larger economies in the world not waited for the united states as perhaps we might have donein states as perhaps we might have done in the past, they would have done in the past, in terms of rate cuts. do you think the direction of travel will continue this way? we direction of travel will continue this way? we are at 105 interest _ continue this way? we are at 105 interest rate _ continue this way? we are at 105 interest rate cuts - continue this way? we are at 105 interest rate cuts around | 105 interest rate cuts around the world this year, more than the world this year, more than the last two years combined. central bank is looking to ease policy, we have seen unemployment generally rise, we have seen inflation generally cool stuff are very difficult balancing act. policymakers

don't want to squeeze too hard to tip the economy to slow down recession, don't want ease too quickly and let the inflation genie out of the bottle again so it is a difficult balancing act. they also have to think about, we had a period of financial instability last year when there was a banking crisis in the us, the implications of which i still rumbling on and jerome powell will have an eye on the american election, be looking at policies being discussed, and former president trump has already talked about looking at the federal reserves, he kicked it around last time, i am sure they will be not necessarily looking forward to if trump runs second round, they will be impartial as they can possibly be. russ mould, thank _ as they can possibly be. russ mould, thank you. _ as they can possibly be. russ mould, thank you. thank - as they can possibly be. russ| mould, thank you. thank you. to the uk now, where households face higher energy bills in the run up to winter — as the energy regulator ofgem is expected to announce an increase in the prices suppliers are allowed to charge. it's been estimated by analysts at energy consultants cornwall insight that prices will rise by 9% in october. the increase comes as

the level of a price cap — originally introduced to protect people from soaring bills back in 2019 — rises. for more on this, joining me now isjess ralston, head of energy, at the energy and climate intelligence unit. friend of the programme, of course. the expectation is, as ijust course. the expectation is, as i just said, course. the expectation is, as ijust said, do you agree with that? h, ., ., ijust said, do you agree with that? a, , , ijust said, do you agree with that? a, y , a, that? good morning, yes we are exectin: that? good morning, yes we are expecting to _ that? good morning, yes we are expecting to be _ that? good morning, yes we are expecting to be announced - that? good morning, yes we are expecting to be announced that| expecting to be announced that energy bills, come october, will be 50% higher on average than they were pre—crisis and for anybody that is a significant amount of money. it is all due basically because the gas markets are reacting to lots of geopolitical tensions across the world. we have russia, the war in ukraine, and

that creates uncertainty that the markets are reacting to and means gas prices are still very volatile and we are definitely not out of the woods. unfortunately that is not what a lot of people want to hear and it is all because basically we are still reliant on gas for about 85% of our home heating, 40% of our electricity generation, so it is really volatile at the moment. the roblem volatile at the moment. the problem is. _ volatile at the moment. the problem is, can _ volatile at the moment. the problem is, can we - volatile at the moment. the problem is, can we afford it, or can households in the uk afford that, and what can the uk government do to help? exactly. this october, as well, we are seeing the removal of the winter fuel payment for a lot of pensioners and that has beenin lot of pensioners and that has been in the news. people have heard about that. coming at the exact same time as these bill rises, a lot of people will struggle and it remains to be seen whether this government will introduce further support to protect those vulnerable households, but when you think about them more long—term solutions, as well, we can't just have a sticking plaster for one winter or next winter,

as well, we need this long—term plan because if you look at the history of oil and gas markets they have always been volatile and they will always be volatile just because it is a very internationally traded commodity and very reactive to geopolitics. the idea is that if we install more insulation to houses, move away from gas boilers, towards heat pumps, and also decarbonise our power so that we are not reliant on gas for electricity generation, then we remove ourselves from that volatility.— that volatility. that is a lot of what we _ that volatility. that is a lot of what we can _ that volatility. that is a lot of what we can do - that volatility. that is a lot of what we can do and, - that volatility. that is a lot of what we can do and, as| that volatility. that is a lot - of what we can do and, as you say, mitigate volatility. the uk is often described as one of the most costly economies to live in and to try and afford. how do our energy bills compared to, say, mainland europe? in compared to, say, mainland euroe? ., , , compared to, say, mainland euroe? , ., europe? in europe there is a lot of different _ europe? in europe there is a lot of different forms - europe? in europe there is a lot of different forms of - lot of different forms of electricity generation. france have lots of nuclear, and while it is expensive, they focus on that as their primary source.

in germany, leading up to the gas crisis, they still had a lot of coal in their power generation and so it is a varied picture across europe. when you look at the uk, the best thing that can happen for our bills is installing insulation to make sure we reduce our gas demand and also moving towards renewables because they are cheaper than the gas alternative or are expected to be towards the end of the decade, anyway. if we move to this more renewable —based system, we have more price stability because we are not facing that volatility in the gas markets and we also know that british electricity has more energy security benefits because we are not reliant on foreign imports. fik. reliant on foreign imports. 0k. jess ralston, _ reliant on foreign imports. 0k. jess ralston, thank— reliant on foreign imports. ok. jess ralston, thank you very much indeed, thank you. staying in the uk, and from energy to taxes. idid say i did say it was expensive, didn't i? as a report out this month claims that nearly half of the uk's millionaires are considering leaving — over fears the new labour government will increase taxes on them.

that's the finding of a survey that claims 47% of the millionaires they contacted said they were more likely to leave the uk now than before the general election. for more on this, i'm joined by chris ball, managing partner at hoxton capital management in dubai. eat for the general public in the uk, our problem is we are paying our taxes?— the uk, our problem is we are paying our taxes? yes! that is a bit of a _ paying our taxes? yes! that is a bit of a problem, _ paying our taxes? yes! that is a bit of a problem, i _ paying our taxes? yes! that is a bit of a problem, i suppose. | a bit of a problem, i suppose. or not a problem. it feels like a lot of millionaires at the moment are seriously considering whether they want to have their taxes increased at present. to have their taxes increased at present-— at present. and 'ust talk us throu . h at present. and 'ust talk us through what _ at present. and just talk us through what their - at present. and just talk us through what their options | at present. and just talk us - through what their options are. i mean, the options are you either stay in the uk, pay the tax, or leave and go to a lower tax, or leave and go to a lower taxjurisdiction, which is obviously a bit more favourable for you. obviously a bit more favourable foryou. places obviously a bit more favourable for you. places like dubai,

singapore offer much lower taxes. obviously in dubai there is no tax, which is where i currently am sat, and places like singapore, the tax rate is much lower. switzerland. stay and pay the tax or leave stop in for a lot of than it is a lot of tax to consider. ok, so if they do _ lot of tax to consider. ok, so if they do leave, _ lot of tax to consider. ok, so if they do leave, what - lot of tax to consider. ok, so if they do leave, what do - lot of tax to consider. ok, so | if they do leave, what do they lose in terms of britain being their home?— lose in terms of britain being their home? . ., ., their home? yeah, i mean, one ofthe their home? yeah, i mean, one of the interesting _ their home? yeah, i mean, one of the interesting things - their home? yeah, i mean, one of the interesting things that i of the interesting things that have been recently brought in is inheritance tax. if someone is inheritance tax. if someone is a non—resident for ten years, they are no longer or their uk assets are subject to inheritance tax —— inheritance tax, so a lot of people with these assets around the world, it better for them these assets around the world, it betterfor them in these assets around the world, it better for them in terms of passing on assets and legacy planning for their children, do not be in the uk and be a uk resident obviously you lose things like the great way of life we have in the uk, but

also other places... typically seen as more hardship places to live. they are now appearing more attractive, lots of people wanting to move to the middle east, switzerland is a lovely place to live, so is singapore. florida, we have also seen, as well. so, you know, it is coming much closer. i have lived in switzerland - coming much closer. i have lived in switzerland as - coming much closer. i have lived in switzerland as a - lived in switzerland as a student and it was hard but there is no hardship if you have enough money. very quickly, should the government, or can the government do anything to help keep people here? i anything to help keep people here? ., anything to help keep people here? . ., , , here? i mean, the rates they have got _ here? i mean, the rates they have got at — here? i mean, the rates they have got at the _ here? i mean, the rates they have got at the moment - here? i mean, the rates they| have got at the moment have kept a lot of people and attracted a lot of wealth over the time that they have been in play. you know, if they change things like capital gains taxes, there is talk of them levelling it up to income tax rates... you know, almost overnight, you would see a big out flux of people who are

looking to sell or have big capital gains tax bills so that is one area. another area is that they can keep the remittance based reels in and not change that. they say this will erase a lot —— this will raise a lot more taxes, 2.7 billion, but if everyone leaves because of it there will be no tax, no assets to tax.- tax, no assets to tax. 0k, chris ball, _ tax, no assets to tax. 0k, chris ball, thank - tax, no assets to tax. 0k, chris ball, thank you - tax, no assets to tax. 0k, chris ball, thank you very | tax, no assets to tax. ok, chris ball, thank you very much indeed for that. thank you. to canada now, for an update on the railway lockout. the government has moved quickly to end an unprecedented rail stoppage, announcing a back—to—work order for over 9,000 unionised workers. pierre—antoine denis has the story for us from our asia business. hello. what is the latest? at the hello. what is the latest? git the latest is that we are in a situation right now where really no party has wanted to be at. we are in a situation where the government didn't want to be, they wanted both

parties here to sort this out themselves. we are in a situation where the unions didn't want to be because they are saying this is a slash on their bargaining power. maybe if we have to pick a party that is happy it is probably the two railway operators that have called for this arbitration for quite some time. the government has put this back to work order, meaning that the current labour terms are extended and that there will be binding arbitration. forthe arbitration. for the government, this arbitration. forthe government, this was crucial because we are in a situation right now where just 20 hours orso right now where just 20 hours or so off in stoppage have but a backlog that could last for several days, according to the minister. analysts said it could take up to a week to get up up to uptoa up to a week to get the operation back to a smooth could take up to a week to get the operation back to a smooth flow. you have to remember, flow. you have to remember, this is an economy worth $1 this is an economy worth $1 billion almost per day when the billion almost per day when the trains are running smoothly in trains are running smoothly in the country. this was very the country. this was very crucial for prime minister crucial for prime minister justin trudeau to get this justin trudeau to get this

railway system back to audit as railway system back to audit as soon as possible, but as it stands, the unions do not want to negotiate on safety, they want a real proposals on safety for their walkers and representative of the union. pierre—antoine denismerci, merci, thank you. around the world and across the uk, this is bbc news.

to the dating app business now, which exploded during the pandemic as lockdowns left few options but for online dating. with millions stuck inside firing up apps like tinder, hinge and bumble. but while their popularity remains huge, some of the numbers suggest some people are falling out of love with the format. the pew research center surveyed more than 6,000 americans about their attitude to online dating. i spoke to one of the report authors. we do see differences overall

when we ask people about their experiences online dating. and to get into some of the details, we explored some of the more negative experiences people might encounter while online dating. and we do see that younger women, women under 50, stand out for experiencing some of these things. so, for example, they were more likely than other groups to say they'd received unwanted sexually explicit messages or images, for example. another place we see differences is when we asked people who'd been on dating apps more recently how they feel about the number of messages they receive. so we've heard a lot of discussion about online daters' emotions, from burnout to elation, everything in between. and what we find when we ask online daters themselves is that there's a gender disconnect here. so women are more likely to say, in the past year, they've felt overwhelmed by how many messages they get on dating sites and apps. and men, on the other hand, are more likely to say they feel insecure about the same thing. some are concerned about safety. they think dating sites and apps should implement

background checks. they've had these negative experiences. but others are saying that their experiences have been positive. now, why do you think some sites are more popular than others? if you do pay, and if you do go for that extra service with a much bigger price tag, did users find that it was worth it? so we did see some differences in how people rated their experiences. and so we found that about six in ten online daters who said they'd paid for a site or an app, or a feature at some point, said their experiences had been positive. and among those who haven't paid, that share is a bit smaller, so about half say their experiences have been positive. one other thing i'll mention is that different platforms may appeal to different people. and overall, we asked people about their reasons for being on dating sites and apps. and it's important to note that

while many people consider one measure of success of online dating is finding a partner, people are on dating sites for other reasons as well, ranging from meeting a partner to having casual dates, making friends, having casual sex. and so while our survey didn't delve into how different platforms played into that, there's a real diversity in people's experiences and in what they're looking for. we are in a huge cost of living crisis at the moment. i'm just wondering if cost proved to be quite an important feature for younger people signing up. the main differences we saw here were actually by income level as well as by gender. and so we did see that users with higher incomes, relatively speaking, were more likely to have paid for an app or a feature on it. we also saw that men were more likely than women to say that they had paid for an app, or feature on that dating app.

and you can see more about the dating business on this weekend's talking business right here on bbc news. watch the full programme for yourself. finally, we go to saudi arabia where this sunday will see the final of the esports world cup. it's been billed as the largest ever event in gaming and esports — hosted in the saudi capital riyadh. it's been going for a mighty eight weeks with a prize pool of $60 million! but the event has been boycotted by some gamers over saudi's poor human rights record. for more i'm joined now by rod breslau, gaming insider and esports consultant. hello, welcome to the programme. this boycott, then, is it hurting the event?- is it hurting the event? thanks for having _ is it hurting the event? thanks for having me. _

is it hurting the event? thanks for having me. overall, - is it hurting the event? thanks for having me. overall, i - is it hurting the event? thanks| for having me. overall, i would for having me. overall, iwould say personally for myself i have not been watching, i have not been covering it, many of my colleagues refuse to work the event, whether as a host or commentator. many others, including otherjournalists, have refused to write about it and report on it. i would say there has been a good amount of backlash within especially the western world, especially with the human rights record that you mentioned in terms of not watching this event. overall, it doesn't seem like the boycott has worked as much. the viewership has still been pretty good, the online engagement has still been pretty good. i believe the saudis probably see it as an overall success so far, even with the pushback from the western world. it with the pushback from the western world.— with the pushback from the western world. it all comes down to money, _ western world. it all comes | down to money, essentially. western world. it all comes - down to money, essentially. why else would you go to saudi arabia? did esports need the money? arabia? did esports need the mone ? , , money? esports in even the laraer money? esports in even the larger gaming _ money? esports in even the larger gaming world - money? esports in even the larger gaming world has - money? esports in even the i larger gaming world has been going through tough times in the last couple of years in terms of the financial

situation, in terms of how organisations and teams make money, but i wouldn't say this was completely necessary. there was completely necessary. there was overwhelming that so much financial compensation and money injected from the saudis that it was unable for the western world really to turn this down. game publishers and developers make these video games and who own the ips could have said no, they could have refused to work with the saudis, could have refusing to be able to use their games in this tournament, but they relented and ultimately they are the ones that are being —— they are in control of the ecosystem. if the game publishers did not want the partnership to happen they have the opportunity to do so but they went ahead and took the finance. ., , x' , finance. you did very quickly sake the _ finance. you did very quickly sake the entire _ finance. you did very quickly sake the entire ecosystem. l finance. you did very quickly i sake the entire ecosystem. are you saying that saudi arabia has more control over the esports industry, notjust this event? esports industry, not 'ust this event? , , . ,

event? yes, they most recently bou~ht event? yes, they most recently bought the _ event? yes, they most recently bought the esl _ event? yes, they most recently bought the esl group _ event? yes, they most recently bought the esl group for - event? yes, they most recently bought the esl group for $1- bought the esl group for $1 billion, they have a general monopoly over many of the that are played in the esports ecosystem and they launch this event, as well. so while you see in golf they have created the liv tour, here in e sports it would be like they bought the world tie. it is like wrestling and golfing and racing. what they are doing here is much worse.- racing. what they are doing here is much worse. thank you. we 'ust here is much worse. thank you. we just ran _ here is much worse. thank you. we just ran out _ here is much worse. thank you. we just ran out of _ here is much worse. thank you. we just ran out of time, - here is much worse. thank you. we just ran out of time, rod - we just ran out of time, rod breslau, thank you very much indeed. this is bbc news. hello, there. storm lilian will dominate the first half of friday, but it's moving at quite a pace and so by lunchtime the worst of the weather will have cleared away. however, before then, a spell of heavy rain,

but more importantly, some gales, unseasonably strong winds for this time of year and still many people on holiday. you can always trust me to put country above party and sell. energy prices set to rise as a regulator sets the latest price cap for gas and electricity.

but as we move out of friday into the early hours of saturday morning, there could be a pulse of very wet weather moving its way into south east and eastern england. now, we haven't seen that much in the way of rain this august, so that will bring a spell of much needed rain for the gardens out there, but it will linger for some time on saturday, only slowly easing away into the afternoon. strongest winds further north and west. here we'll see a frequent rash of showers on and off throughout the day. top temperatures generally a little bit below par for this time of year. now, from sunday and into bank holiday monday, the azores high will tend to build back in across central and southern england. one or two weather fronts toppling across that high, so, once again, we're back to showers or longer spells

of rain into the far north and west. hopefully a little drier and eventually a little bit warmer further south.

good morning,

welcome to breakfast with luxmy gopal and charlie stayt. our headlines today. i accept your nomination to be president of the united states of america. it's harris versus trump in the race for the white house, as vice president kamala harris is officially confirmed as the democrat nominee. i promise to be a president for all americans. you can always trust me to put country above party and self. energy prices are set to rise as the regulator sets the latest price cap for gas and electricity. new prices kick in from october. today we come to doncaster, the energy secretary poz—mac own constituency, to find out how people who would be affected by higher

bills. football pundit and presenter jermainejenas says he's