the top headline: in mexico, the elections have been under way but they have been marred by violence. votes are being counted as we speak in the country's largest elections with prediction that the left‘s andres manuel lopez obrador is set to win. football fans across russia have taken to the streets to celebrate their team's surprised victory over spain. it was penalty drama also for the croatia versus denmark game with croatia winning. firefighters working around the clock to control the situation in lancashire in what has been described as extremely testing conditions. more on that to come. we have a full report on those fires in

the website. the chief executive of nhs england has said significant contingency plans are being made to ensure the health service has sufficient supplies if the uk leaves the eu without a deal. trade tensions between the us and china are sending the chinese currency low. how low will beijing let it go? in hong kong investors parking their money and cars in the same place. welcome to a show business report. the ongoing trade tensions between the us and china has taken its toll on the chinese currency with it weakening losing around 3% of its value in the last couple of weeks, partly due to the worries over the trade spat but also

because of sharp declines in the stock markets. we look at out its central bank is reacting. it has mostly gleaned a fall in the currency. the timing after the us ta riffs have currency. the timing after the us tariffs have been released releasing concerned that they are weaponising and in practice we do not think that isn't the case. they have been rather on the strong side compared to market movement suggesting. also rumours that state banks moving to support the currency. it seems that they are willing to allow it to wea ken they are willing to allow it to weaken but not too quickly. while the us is in summer holiday mode of july four fireworks the us is in summer holiday mode of july fourfireworks on the us is in summer holiday mode of july four fireworks on their way, it is business as usual in asia. the

economic events to look out for... on tuesday, anchor of australia meets to decide whether it will follow the us reserve bank in raising its cost in borrowing. cash rate is at a low 4.5%. on thursday china's central bank will be lowering the ratio of reserves that banks are required to keep on and in an attempt to boost lending. —— keep on hand. trade tensions with the us drag on. and speaking of those, we will be keeping a close eye on friday because of that is when us ta riffs of friday because of that is when us tariffs of $50 billion on chinese goods go into effect along with chinese retaliatory tariffs. a strong us dollar and rising interest rates, will australia's central bank make any changes? only after we see

a pickup in wage pressure and stronger inflation, then we might see the rba do that but did not think that will happen any time soon. maybe at the end of this year as the earliest. we heard about what the chinese central bank are having to do but reducing the ratio requirement takes effect this week, for the third time this year. what are they trying to accomplish? finding a balance between the objectives, to support solid economic growth and that is why it you need accommodating monetary conditions and the other thing is policy makers are trying to contain risk and lethbridge so it is a tough balance. —— ‘s average. it adds liquidity into the system and

promote small credit to smaller firms. those credits take effect this friday and trade tensions we're been talking about for months. what impact will they have? an escalation in the trade dispute is that the biggest downside risk to the chinese economy and also to the global economic outlook. the dispute will cost weakening in business confidence, potentially weaker business investment and tariffs cost higher prizes —— cause. there are absolutely no winners in a trade war like this. japan and south korea have been known for their long working hours for decades but both governments are now trying to tackle the work — life balance. on sunday, a new law to the working week has

taken a new law to the working week has ta ke n effect a new law to the working week has ta ken effect in a new law to the working week has taken effect in south korea while tokyo has tightened limits on overtime to less than 100 hours per month. i hope you are not doing those kind of ours! i think it is quite impossible. if you listen to what we have just said, 100 quite impossible. if you listen to what we havejust said, 100 hours of overtime above, if you wait 99 hours, that meant an hours a day and every weekend eu is still legal so that kind of measure, while a good step in the right direction, critics would argue that it is not enough. obviously, the government keen to address death by overwork but the question means if the workload does not change, what will you do about it? if you after example an advertising industry, coming under strychnine after the death of an employee, —— scrutiny, are you going

to say, we will not work overtime any more? at least both governments trying to address the issue by making those laws so that companies will be penalised if they break those laws. how much do you pay to park your car? those laws. how much do you pay to park yourcar? in those laws. how much do you pay to park your car? in some cities it is getting really expensive. in hong kong, for example, parking space is routinely sell for as much as a split—level house in the united states! because the prices have increased steadily, some people are now starting to invest in them. in any crowded city, it is tough to find a place to park and there is a lwa ys find a place to park and there is always someone who smells and opportunity. this is my car park here and a little tiny white but in the heart of hong kong. in addition

to $4 an hour, he runs a website where people can run in by parking spaces. some invest because they do not have quite enough money to buy apartments in a notoriously expensive city. to much money chasing too few goods. people have to park their money somewhere and car park space is a communal way to park their money. it also helps that transaction tax of parking spot is much less than for an apartment. it is only 3%. so how expensive car parking spaces in hong kong? last year, at one parking space told for around $660,000 in us. even by hong kong standards, that is a massive outlay but it gives an indication of how unusual is the local property market is. this is a city where a

lot of money does not necessarily go so far. none of flats here it will in size to1.5 so far. none of flats here it will in size to 1.5 uk parking spaces. some of the prices we are seeing approach some of the nano flats which shows you the property will market is hot. now even car parking spaces. planning laws and have reduced the number of spaces required for each new apartment so the number of cars is increasing more cars than the number of spaces but while scarcity is driving up prices, it is buyer beware. some car parks in hong kong are so small you can get yourcar in

parks in hong kong are so small you can get your car in but you would be going out the back. you could do what 4 million people to hear every day and take public transport. in other news making headlines... canada counter tariffs have come into effect. 25% tariffs on various us metal products. 10% of more than 250 us goods like bic x, whiskey and orangejuice. trade 250 us goods like bic x, whiskey and orange juice. trade tensions are high as the president tries to negotiate a revised north american free trade agreement. —— beer keg does. big manufacturing sentiment standing at plus 21 injune. down through a second straight quarter.

the mood soured full two quarters in a row. looking at the markets... the nikkei has opened weaker due to the trade tensions we're been talking about and also our survey not looking so good forjapan for the big benefactor is taking an impact. australia is gaining and that is because energy stocks are doing well after oil prices froze. that is it. thank you for watching. this is bbc news the top stories this hour. votes are being counted in mexico's parliamentary and presidential elections — the largest in the country's history. football fans across russia have taken to the streets to celebrate their team's surprise world cup victory over spain. in the other match croatia beat denmark. more than 100 firefighters are working in what are described as "extremely testing conditions"

at the scene of a huge moorland fire in lancashire. after strong winds caused two fires to merge, they say they're dealing with a rapidly developing and aggressive blaze which now covers a three square mile area. it could take at least a week to put out the flames. our correspondent, sarah walton, has sent this report from winter hill. it's hot, sweaty work and there's no end in sight. firefighters have spent a third full day on winter hill, but despite their best efforts, eight square kilometres of moorland are still alight. this fire is over quite an extensive area on two faces of winter hill. so we've got two areas in the region of about four square kilometres each, so significant fire fronts. fire crews have travelled here from as far away as south wales and warwickshire, working in the intense heat and thick smoke, fighting flames not just on the ground but also from the air.

and it's from there that the scale of the fire becomes clear. strong winds caused two separate areas of burning to merge here, and the flames you can see on the surface are only part of the problem. the fire here is spreading not just through this very dry grass, but also underneath the ground, where the soil is very peaty. firefighters are finding they will put out one area of fire, but the ground underneath is still so hot that it will be back alight just minutes later. and that's a worry for these workers from rivington gardens, a site of national importance, now just metres from the fire. timber! they're chopping down surrounding vegetation to try and stop the flames. well, the gardens are listed at grade two nationally. they're one of the top ten lost

gardens in the whole country. the gardens themselves have been listed and 11 of the structures within them mean it's a really important heritage asset. while there are bigger concerns with life and loss elsewhere, we're desperately trying to make sure that the fire does not reach here. time to catch up with all the action from the world cup. hello, this is sport today, live from the bbc sport centre. coming up on this programme: the hosts russia are through to the world cup quarter—finals after beating spain on penalties. they'll play croatia after ivan rakitic scored the winning penalty to see off denmark in their last 16 tie. and the formula one title race is thrown wide open again as red bull's max verstappen wins the team's home grand prix

in austria. hello and welcome to the programme, where we start with the fifa world cup in russia and another of the big names has gone out, this time to the hosts. spain were beaten on penalties as were denmark in the late game when they succumbed to croatia, and olly foster has been keeping tabs in moscow. the celebrations when russia simply made it out of their group were something special, but what we're seeing here in the city is a whole new level and the whole country is in dreamland at their own world cup. no one gave them a chance against spain, the 2010 world champions, but they defended heroically and their goalkeeper, akinfeev, was their hero in the penalty shootout. claire ponton reports.