maryland. he will lie in state at the us capital before being laid to rest. there's been another anti—immigrant demonstration in the city of chemnitz in eastern germany, after the killing of a german citizen on sunday. police are investigating cases of violence and demonstrators accused of giving the banned hitler salute. and this video is trending on bbc.com. russia's best—known singer, iosif kobzon, sometimes known as the soviet frank sinatra, has died of cancer. kobzon sang for stalin at the age of nine. he was also a controversial figure, with some labelling him as a "propagandist." that's all. stay with bbc world news. and the top story in the uk. britain's biggest payday lender, wonga, has collapsed into administration afterfacing a surge of compensation claims. the privately owned company ran into trouble after the government cracked down on payday lending. now on bbc news live to singapore,

for asia business report. it is deadline day for canada staying in nafta. we will take a look at what this will involve and what it says about potential talks about america's other large trading partner, china. and it may be the world's fastest growing major eicon me but narendra modi's administration will have a lot at sta ke administration will have a lot at stake is keeping india's growth this way. —— fastest growing major eicon me. it is friday, everybody. almost the weekend. i am sure everybody is looking forward to it. well, it is

deadline day for canada to get on—board the north american free trade agreement. sign an agreement by friday or else. canada's negotiators currently in the united states rene race against the remaining sticking points in this landmark trade deal which dates back all the way to 1994. the us and mexico agreed to immune —— a new nafta deal earlier this month but 110w nafta deal earlier this month but now mist and trump is piling the pressure on canada saying they could go on, minus their neighbours to the north. what will the resort —— results of these talks tell us about america's willingness to forge out a deal with another contentious trading partner, china. our chief economist spoke with beijing, saying it may be more complicated than we think. it isn't laughing with china. there is a clear intention to increase tariffs on a wide range of goods. next week we will hear about ta riffs goods. next week we will hear about tariffs on another $200 billion of imports from china. the prospect of

some chinese retaliation, as well. this thing isn't going away and i think it is only going to get worse. we have seen in the markets, news reports leaking out that donald trump will really impose this $200 billion worth of tariffs on china, and it looks like it is not a bluff, it could eventually move on to $500 billion? quite possible, that they increase it from, well, we already have 50, we are going to have 250, by the end of next week you could increase it beyond that if china retaliates. 0f increase it beyond that if china retaliates. of course, it is not just straight. they are also trying to choke off chinese access to american technology, limiting the purchase of american technology companies. it is extending, really, it into a cold war dynamic between the rising superpower of china and the rising superpower of china and the declining superpower of america. richard jerome from the bank of singapore. it is the fastest growing

major economy in the world and today we get a gauge on weather it is growth spurt is set to continue. i speak of course of india, where gdp, the gdp report, is due to be released for the april— june months. in the last quarter, its economy expanded by 7.7%. its economy is expected to maintain that momentum, but is this growth reflected on the ground? just over two weeks ago, out delhi's red fort, and the tens of thousands who gathered to celebrate independence day, prime minister narendra modi unfurled the national flag and described india as the sleeping elephant that had started running since he came to power. in an election year, the country's fast paced growth is good news for mr modi and his party. but there is a fair bit of scepticism about the numbers. so about six months after mrmodi was numbers. so about six months after mr modi was elected, india changed the way it economic growth is measured. this meant that from

expanding at 5% and 6% under the previous government, the country was suddenly growing at more than 7%. recently this new method was used to recalculate economic growth prior to the election in pretty 14, and it showed the country expanded faster under the previous government than it did under under the previous government than it did undeer under the previous government than it did under mr modi's leadership. -- 2014. it did under mr modi's leadership. —— 2014. despite the doubts about the numbers, what is true is that compare to many countries around the world, and in particular, developed nations, it india it is growing faster. but it does face some unique challenges. first, jobs. the second largest population in the world, india needs to create employment for millions each year. that means it has to grow at a rapid pace. then there is oil. india imports more than 80% of the oil it needs. and as global prices remain volatile, the impact —— they impact several things

in the country. if it rises sharply, it means the price of virtually every thing goes up. fuel, of course, but even food and other consumer goods, because they are transported in vehicles which run on diesel. another problem is india's bad loan crisis. public sector banks have lent out billions of dollars which are unlikely to be repaid. the government has been bailing them out bit by bit. this means there is less money to invest in infrastructure and other sectors that could actually drive the economy. this silver lining is that private investment in india seems to be picking up. it is what the government has been working towards for a long time. india is expected to retain the tag of the fastest—growing major economy in the world over the next year. but where there is complexity and chaos, the numbers only tell a part of the story. earlier i spoke with and rita

ba rstow from earlier i spoke with and rita barstow from the economists's intelligence unit and i asked if this growth rate was sustainable. intelligence unit and i asked if this growth rate was sustainablem course, 7% growth this to be taken with a pinch of salt. they did rebates the economy, it was about two years ago, just after the modi administration came to power, so that sort of change the calibration —— changed the gdp calibration. that sort of change the calibration —— changed the gdp calibrationm seems like it is an election year in 2019 and the modi administration is scrambling to implement, you know, basically people oriented reforms to be able to jumpstart the economy and gain votes. absolutely. i guess because it is a pop list government at the moment, the policy, the economic policy programmes, they will be mostly directed towards short term free these sort of supporting the rural sectors by handouts and so on. of course that

is not a sustainable growth model. there needs to be two levels of reform in india. 0ne there needs to be two levels of reform in india. one would be from an idea ‘s perspective, rolling out the gst was one of them, the other one would be from an institutional perspective, so that is something we haven't seen. argentina's central bank has hiked its benchmark interest rates to a dizzying 60% to 45% in a fruitless attempt to stop its currency from a freefall. the argentine currency, the peso, has now lost more than 50% of its value since the beginning of the year. the market turmoil erupted early on wednesday after its president said it had reached a deal with the imf to accelerate the disbursement of a $50 billion loan programme. however, it turned out to bea programme. however, it turned out to be a misguided attempt to calm investors' nerves. polaroid instant

cameras like these were the must have gadgets in the 19705 and 19805, but the company struggled when digital photography took over and went bankrupt in 2001. now the new owners of the polaroid brand have unveiled a new instant camera, and for the first time it is controlled by an apple. —— by an app. we spoke to the chief executive in berlin. here is the one step plus. i have another one set up in front of me, and using the app you can do some creative effects. people are like painting ina creative effects. people are like painting in a darkened room, you can do dual exposure, and you can use the phone is a remote control or a noise to do. so if i clap my hands... you get a picture of me clapping. when polaroid shot down its production, it was too big for its production, it was too big for its own good, really. and when

digital came along it can sustain itself. we rescale the whole thing and we actually had to reinvent all the chemistry that goes into it. it makes sense with environmental laws and everything now, we had to update that and rescale it. people who loved instant analogue film wants that point and shoot, and if it doesn't turn out, it doesn't turn out experience. digital photography allows you to take photos again and again. why put the two together? we never think of digital and analogue is opposing forces. we kind of think they have their own unique qualities and strengths, right? analogue film is, like you said, it is imperfect but it is also somehow more meaningful and magical, because whatever comes out, you kind of have it with you forever. with this physical thing. for us, analogue and digital one at opposing forces. they have their own strengths. polaroid stopped making analogue film and you brought it back as fans. how does it feel now to be the chief executive the new company. it feels great. a

lot of people were really excited about this medium, not letting it die. iamjust about this medium, not letting it die. i am just humbled to be able to lead it forward, i guess. we've got an incredibly passionate team as well. that was the bbc's chris fawkes speaking to the new chief executive of polaroid cameras in berlin. let's take a quick look at the markets. a rocky start to the asian trading day. the nikkei down, and the all 0rdinaries losing 4.5 due to wall street's slump overnight. thank you for investing your time with us. to buy for now. —— goodbye. this is bbc news. the top stories this hour: senatorjohn mccain's body has arrived at andrews air force base in maryland. he's set to lie in state in washington before being laid to rest. there's been another anti—immigrant demonstration in the city of chemnitz in eastern germany, after the killing of a german citizen on sunday. the uk's biggest payday lender,

wonga, has collapsed into administration after facing a surge of compensation claims. after becoming one of the uk's most controversial loa ns becoming one of the uk's most controversial loans companies ran into trouble after the uk at government cracked down on payday lenders. profits peaked at £85 million six years ago when it had more than1 million six years ago when it had more than 1 million customers. million six years ago when it had more than1 million customers. simon comports reports. with a loan from wonga.com... wonga rode to number one among payday lenders on a wave of humourous adverts which glossed over the harm being done to some borrowers, borrowers whose compensation claims have clamped down on wonga ever since a crackdown years ago. stacey in south london saw a £600 loan turn into £5,000 when she missed some payments. well, they are still chasing me for the money, which i'm trying to get cancelled now. they completely screwed me over. i was very vulnerable at the time. i don't know if you've

heard, but they are in big financial trouble. yes, i have heard. i read about it. so what do you think about that? i think good on them. it's what they deserve. because of the way they treated you? yeah, ido. i think they deserve it. i think they deserve to go bust because they preyed on people who were vulnerable. wonga's fall began in 2014 when it had a big financial penalty for sending threatening letters to borrowers from fake lawyers' addresses. then it was forced to compensate 330,000 customers it hadn't checked could pay the money back. in the backlash, charges for payday loans were capped and, as more compensation claims came in, 10 million from wonga's backers turned out not to be enough to cover them. so what are the options for wonga customers who have seen the message that they are not lending any more and heard that the company has failed? well, if you've got a loan, you'll still have pay that back. if you are pursuing compensation, the danger is that you willjust have to join a long queue of creditors trying to get their money back from wonga.

wonga are always considered the bad boy of... this debt expert wants wonga's woes to be a turning point. while the reasons for people using the likes of wonga will still exist, we hope that this news today sends a message to other lenders theyjust can't lend to people at exorbitant rates and expect to get away with it any more. wonga's rates were 1,500%, but its business model backfired, and this lender's time has run out. mike embley will be here with you at the top of the hour, but now it is sport today. hello, i'm chetan pathak and this is sport today, live from the bbc sport centre. coming up on the programme: chasing grand slam number 21. roger federer makes it

through to the third round of the us open. europe's top clubs find out their fate as the draw is made for the group stages of the champions league. and the unlikely hero. sam curran rescues england on the opening day of the fourth test against india. thanks forjoining us, welcome to the programme. roger federer‘s run for a sixth us open title continues after he beat france's benoit paire to book his place in the third round at flushing meadows. federer struggled with his serve at time but came through 7—5, 6—4, 6—4 against paire who made 47 unforced errors. he'll play nick kyrigios next. alexander zverev is also through to the 3rd round, for only the second time at flushing meadows.