but the us inflation data due to be released on wednesday, could force them to adjust their initial assessment. we'll also get a reading on the chinese economy on thursday, with the release of several key metrics for the same month retail sales, industrial production, unemployment and house prices. portfolio managerjun bei liu explains why the market volatility we saw last week is here to stay. now pricing in us with a 50 basis point rate cut in september so anything challenging that if you will drive more volatility. we await eagerly to see what the inflation data might look like, but that is going to have quite a significant ramification for the rest of the world as well because every economy is look for two or central banks look forward to what the fed is going to do and follow suit.

speaking of the fed, what will their course of action be? there some thought the volatility we have seen is in part driven by the fed waiting too long to drop interest rates. i too long to drop interest rates. ~' ., , ., rates. i think the fed has made it reasonably _ rates. i think the fed has made it reasonably clear _ rates. i think the fed has made it reasonably clear that - rates. i think the fed has made it reasonably clear that it - rates. i think the fed has made it reasonably clear that it is - it reasonably clear that it is coming and i think the 50 basis points also in september is a pretty good bet. i think very soon they will be starting to talk more and leading up to that cut. after many years of experiencing the federal reserve giving into what the financial markets of looking for. so we are reasonably confident that rate cut is coming. confident that rate cut is coming-— confident that rate cut is cominu. , , . , confident that rate cut is cominu. ,, , , . ,., coming. us consumer prices all due out this — coming. us consumer prices all due out this week, _ coming. us consumer prices all due out this week, what - coming. us consumer prices all due out this week, what are - coming. us consumer prices all| due out this week, what are you expecting from those numbers and how will that impact policymakers in both the us and china? in policymakers in both the us and china? , ., ,, china? in terms of the us we are expecting _ china? in terms of the us we are expecting the _ china? in terms of the us we are expecting the inflation i are expecting the inflation data is going to be weaker and we do expect that to pave the pats to the fed cutting rates.

with chain of retail sales are excited to be weaker given from what we have heard in terms of luxury brands in terms of how weak the consumer is that we do continue to serve weakness. policymakers have made it clear that they will continue to stimulate the consumer part of the economy if they need to. so if there needs to be more stimulus to come through to stabilise the consumer and boost their confidence. us vice president kamala harris has rebuked republican presidential nominee donald trump's suggestion that the next us president should have a say in the federal reserve's interest rate decisions. here's what she had to say to reporters in arizona. i couldn't agree, disagree, excuse me, more strongly. the fed is an independent entity and as president, i would never interfere in the decisions the fed makes. harris also said she was preparing to unveil an official economic policy platform in the next few days. as the us election inches closer, harris indicated that her plan will be largely

focused on bringing down costs and strenghtening the economy, key issues on the minds of voters. wa lt walt disney experiences division laid out an imposition growth road map over the beacon is a trust to drive customers back to its theme parks. the company announced plans for four new cruise ships in six new theme lands including one dedicated to new disney villains in the magic kingdom in florida. magic kingdom has seen slowed attendance and its domestic theme parks as the customers cut back on spending. the trend is expected to continue up the next few quarters. deadpooland continue up the next few quarters. deadpool and willful remade box office history on sunday becoming the second film this year to grossed over $1 billion the first being inside out to. the massac success will be a boost for disney which had a string of losses last year.

the latest earnings revealed a $254 million profit and content sales and licensing, a significant bounce back from previous year$100 million loss. let's turn now to china, where one major sector has not been hurt by lacklustre consumer spending smartphones. according to a new report by technology consulting firm canalys, domestic brands like vivo and oppo are dominating the market. in fact for the first time, the top five brands in china are all local, with apple's iphone being pushed to sixth place. amber liu, one of the co authors of the report explains what's causing the iphone to lose out against local vendors. the intensified competition from local vendors leads to the recent displacement of apple from the top five vendors of the market. huawei in particular has made a strong comeback since september 2023.

it has disrupted all leading vendors market share especially how it started to recover its portfolio which has the highest competition with the apple user base and adding local brands, xiaomi advancing to high end strategies and keep refreshing their high—end offerings and introducing those breakthrough innovations like ai smartphones to the market for users to upgrade or switch to their breads. so pose pressure on the iphone sales this year. you mentioned _ iphone sales this year. you mentioned ai _ iphone sales this year. you mentioned ai there, - iphone sales this year. you mentioned ai there, it - iphone sales this year. you mentioned ai there, it is i mentioned ai there, it is increasingly important to smart for strategies for all the countries but the us and europe have tried to limit chinese access to ai smart chip so how are local smartphone lakers are local smartphone la kers staying are local smartphone lakers staying competitive? == are local smartphone lakers staying competitive? -- makers. china has a _ staying competitive? -- makers. china has a special— staying competitive? -- makers. china has a special ecosystem i china has a special ecosystem including the ai infrastructure network, they are not completely closed or open system and it provides

advantages to local brands to build their complaints ai, but china is not unique regarding local regulations because the other markets, they also have these local requirements were vendors to meet. start there are a lot of local suppliers like large language of model suppliers and cloud computing suppliers and cloud computing suppliers like ali baba is a smartphone vendors are collaborating with suppliers in the china marketjust like what they do with 0penai and google in the overseas market. similar business models. the chinese government has issued wide ranging guidelines on achieving what it calls a comprehensive green transformation over the next decade. officials have been told to focus on environmental protection and integrating sustainable development into agriculture, transport and energy. the plans envisage increasing the use of renewable power and electric vehicles, and making transport networks carbon neutral. carbon emissions in china appear on course to decrease

in 2024, potentially meaning they've peaked years earlier than promised. there's been huge investment in renewable energy and electric vehicles so much so that some firms are going out of business as demand fails to keep up. turning to the uk now, where the state of the nation's roads is a big issue. potholes causing damage to vehicles is the main concern for the majority of drivers in britain, a motoring survey suggests. the condition and maintenance of roads was the top issue for almost six in 10 people for the first time recorded in research by the rac, ahead of insurance costs and fuel prices. the bbc�*s katy austin has more. from northern scotland to salisbury, from lancashire to kent. pictures like these, filmed by bbc reporters around the country, show the extent of britain's pothole problem. it may not come as a surprise, then, that when the rac asked motorists about their top concerns this

year, the state of the roads surfaced as number one. 75% of drivers said that they think their local roads have got worse in the last year. rural roads tend to be worse than urban roads. so this is the car? yes, this is my wife's car. and this is the wheel that struck the pothole, the tyre that was split in the incident and then the alloy wheel was dented. and that's not something that could be driven on? no, unfortunately, after that the car needed to be needed to be repaired and couldn't be driven. richard's wife was driving near cirencester in may last year when she hit that pothole. and then there's the pothole right there. 0ncoming land rover. and there's no option but to follow the line that she's following. to avoid the incident hitting his family in the wallet, richard claimed £189 for the damage from gloucestershire county council. they turned it down. richard persisted

and lawyers got involved. and it's been a very complicated and protracted process. but it was all resolved last week when they conceded that they should pay the claim. that's more than a year later. well over a year. yeah. the council apologised for the distress caused, adding that it defends claims robustly and fairly to protect the public purse. a spokesperson said new information had led to the case being settled. different local authorities have their own claims processes and insurance price comparison website told us many people end up paying for damage out of their own pocket because it's easier. what they should do is go to the council. councils are responsible for maintaining roads, therefore they're also responsible for paying out any claims for damage to your vehicle. you could also claim on your insurance, but be wary — that could mean that obviously you've got a claim on your policy and you see your insurance premiums go up for at least the next couple of years. the previous government promised to put £8.3 billion into repairing local roads in england over the coming decade.

with the finances of local councils stretched, they argue long term funding certainty is needed to help prevent potholes in the first place. katy austin, bbc news. if you're not too familiar with the rac it is the real automobile club a british organisation that gives help and advice to members of it. and that's it for this edition of business today. thanks for watching.

i need you 0k yourdad hello and welcome to sportsday — i'm chetan pathak. au revoir, paris 2024 — after over two weeks of competition, the olympics come to a close. close to 1,000 medals have been handed out — as team usa win the last gold on offer — taking them top of the medal table.

and after two bronzes, sifan hassan finally has her hands on gold — after winning the marathon in an olympic record time. welcome along, thank you forjoining us as the paris 2024 olympics come to an end. it all began over a fortnight ago — and after 32 sports, 329 events and 987 medals — the games finished on sunday with a dramatic women's basketball final which changed who finished top of the medal table. more on that to come but first this — is how the closing ceremony played out in the stade de france. a chance for all the competing nations to come together and celebrate the games.

it was star studded with tom cruise among those