we speak to a victim who lost her life savings in a cyber scam. hello, and welcome to business today. i'm katie silver. let's begin with our top story — indian tycoon ratan tata has died. the 86—year—old's death was announced a few hours ago by the tata group, a conglomerate he led for more than two decades. mr tata was one of india's most internationally recognised business leaders. hailed as a visionary business leader by indian prime minister mirra andreeva modi. —— narendra modi. the bbc�*s samira hussain takes a look at the life of ratan tata. chairman of the tata

conglomerate. for more than two decades, ratan tata turned the company that bears his name into a global empire. shy and often described as a loner, tata was raised by his grandmother in mumbai. educated in the united states, came back to india at age 25 to work in the family business. under his leadership, he turned an indian company into an international success, buying quintessentially british brands tetley tea, jaguar land rover and anglo—dutch steelmaker corus. an acquisition that, at the time, was seen as saving the british steel industry. tata's most ambitious project, the tata nano, the world's cheapest car. it never was conceived of as being the cheapest car, it was conceived of as being a car that would give the people of india an opportunity to own a car that had not been within their reach before. but the indian consumer just wasn't interested. tata was also known for his philanthropic work, animalwelfare, health and education, and most recently, working with the elderly.

ratan tata was one of india's most internationally recognised business leaders and has left an indelible mark on the country. samira hussain, bbc news, india. you can find more of our coverage on our live page on our website. over in the united states, major stock indices rose for a second day in a row, reaching new record highs. the dowjones industrial average added i%, while while the s&p 500 index almost three quarters of a percent higher. this comes despite the release of minutes from the federal reserve's september meeting, which showed a divide among officials over the size of the fed's recent half—percent rate cut. the bbc�*s michelle fleury has more on what lies ahead. officials inside america's central bank were divided at their meeting last month over how much to reduce

interest rates. minutes released on wednesday show a substantial majority wanted to cut by half a percentage point, but a small number wanted a smaller rate cut. the federal reserve said it wanted to reduce the cost of borrowing to bolster the labour market. i think what the fed did very well last month was communicate a 50 basis point cut mostly as an adjustment. they were too high relative to some of the weakening we saw in labour markets and concerns about the economy. since that time, we've gotten a stronger labour market, but we still expect them to go to a 25 basis point cut for the next cuts. and the market has reacted positively to that. if last month's strong jobs report showed the labour market was perhaps in better shape than those pushing for a half a percentage cut move had expected, investors appeared unfazed. the dowjones industrial average jumped more than 400 points on wednesday to a record close. the s&p 500 hit an all—time high, while the nasdaq finished up 6/10 of a percent. rather, wall street is looking ahead to september's consumer price index, due out later this thursday. a positive report would provide reassurance that

inflation is under control. there are hopes of more stimulus. the csi 300 index closed at around 7% lower. since returning from the golden week holiday, chinese authorities have promised to boost the economy, but provided few details. turning to japan, the company behind the brand uniqlo, fast retailing, and the owner of 7—eleven, seven & i holdings, will report their earnings later today. while inflation injapan is eating into household budgets and dampening sales for retailers, tourism is lifting sales at convenience stores. for more onjapan's retail landscape, let's go to our guest. i expect good results,

particularly fast retailing, their global business is going very strongly. and the domestic business is also being helped by this search in inbound tourism here, so overall, the profit numbers for the retail space are looking good. you mentioned _ space are looking good. you mentioned the _ space are looking good. you mentioned the surge because of the high amount of tourism and a lot of that is to do with the weak yen. with it showing some signs of improvement recently, are you seeing that might impact tourism to the downside. it is quite clear the big surge and researching of inbound tourism injapan we have seen over the last year and a half is peeking out. i think tourism is peeking out. i think tourism is still going to be strong, but the growth rates will be coming through, which means for the japanese retail leaders, it is very clear, now i need a real strategy, is very clear, now i need a realstrategy, i is very clear, now i need a real strategy, i need to be shown as an investor that, yes, thank you, you can be profitable. but what are you going to do for me in the

future, what are your new acquisition strategies? are you going to have a global expansion strategy? are you capable of doing some domestic roll ups? because as we all know, the japanese retail industry is horrendously fragmented, so there are lots of room for industrial roll ups. of room for industrial roll u s. ., of room for industrial roll u as. ., ., of room for industrial roll us. ., ., ., , . ups. you mentioned the domestic consumption. _ ups. you mentioned the domestic consumption, because _ ups. you mentioned the domestic consumption, because of- ups. you mentioned the domestic consumption, because of course, | consumption, because of course, there have been concerns for a long time about domestic consumption injapan. are there any improvements and any bright sparks? so any improvements and any bright sarks? , , ~ , sparks? so the bright spark is the younger _ sparks? so the bright spark is the younger generation - sparks? so the bright spark is i the younger generation because it is for the people in their 20s and early 30s where you do see almost double—digit wage growth and that of course, you know, is stronger than inflation. so the younger generation does actually open up generation does actually open up their purse strings right now. the problem injapan is that one in fourjapanese now live on a pension. and of course, the pension increases are below inflation here in japan. and as a result of that,

the baby boom generationjust simply isn't spending, so this consumer market, orjapan —— japan not spending and younger japan not spending and younger japan spending, that is something to out for. australian authorities are warning more people are falling victim to fraud. they say they are making progress in efforts to stem the seemingly unending tide of scammers. taking down more than 700 investment scam websites in the past year. but nearly $2 billion was lost to scams as well. phil mercer reports from sydney. joe 0'brien was driving when she received a life—changing news. she had lost her life savings in a sophisticated investment scam. 300 and $40,000 disappeared. the melbourne mother blames herself, but also says she was let down by her bank forfailing to

says she was let down by her bank for failing to identify and stop suspicious transactions. i and stop suspicious transactions. , ., . transactions. i pulled over and i 'ust transactions. i pulled over and ijust cried _ transactions. i pulled over and ijust cried my _ transactions. i pulled over and i just cried my eyes _ transactions. i pulled over and i just cried my eyes out. - transactions. i pulled over and ijust cried my eyes out. i - ijust cried my eyes out. i just could not believe that this had happened to me, that i have never felt a feeling like that before. it is worse than when someone dies. because australia was so psyched, we have become a major target now. she wants tougher laws to prevent theft and better security at the banks. unlike many other victims, she tracked down her alleged scam, but is unlikely to get any of her money back. he unlikely to get any of her money back.— unlikely to get any of her money back. unlikely to get any of her mone back. . , ., money back. he had himself down as the director, _ money back. he had himself down as the director, with _ money back. he had himself down as the director, with an _ as the director, with an address in western melbourne. so i was so angry and i had nothing to lose, so ijumped my car and drove over and knocked on his door. car and drove over and knocked on his door-— on his door. australian academics _ on his door. australian academics have - on his door. australian i academics have identified on his door. australian - academics have identified key psychological factors that cause people to fall for scams. emotions can be manipulated to create a sense of urgency, fear or excitement, especially when it comes to money. for

or excitement, especially when it comes to money.— it comes to money. for almost everyone. _ it comes to money. for almost everyone, financial _ it comes to money. for almost everyone, financial desire - it comes to money. for almost everyone, financial desire and | everyone, financial desire and in tough — everyone, financial desire and in tough economic times, financial— in tough economic times, financial vulnerabilities. in tough economic times, financialvulnerabilities. so financial vulnerabilities. so it is— financialvulnerabilities. so it is usually a scam that says, you _ it is usually a scam that says, you know. _ it is usually a scam that says, you know, if you don't do something, you will lose your money— something, you will lose your money or— something, you will lose your money or if you do something, you gain — money or if you do something, you gain a _ money or if you do something, you gain a lot. money or if you do something, you gain a lot-— you gain a lot. scams are costing — you gain a lot. scams are costing australians - you gain a lot. scams are costing australians more | you gain a lot. scams are - costing australians more than $3500. every minute. 0lder $3500. every minute. older people are most vulnerable, but it can happen to almost everyone. the banking industry says it has some of the strongest anti—scam measures. the government wants australia to become a global leader in stopping this type of financial crime. but legal experts believe that victims need more support. i believe that victims need more su ort. ~ , support. i think it is incredibly _ support. i think it is| incredibly prevalent, support. i think it is - incredibly prevalent, the support. i think it is _ incredibly prevalent, the shame that people _ incredibly prevalent, the shame that people feel, _ incredibly prevalent, the shame that people feel, that _ incredibly prevalent, the shame that people feel, that they- that people feel, that they feel— that people feel, that they feel like _ that people feel, that they feel like it _ that people feel, that they feel like it was _ that people feel, that they feel like it was their- that people feel, that they feel like it was their fault. | that people feel, that theyl feel like it was their fault. i think— feel like it was their fault. i think the _ feel like it was their fault. i think the system _ feel like it was their fault. i think the system is - feel like it was their fault. i think the system is set- feel like it was their fault. i think the system is set up. feel like it was their fault. i i think the system is set up at the moment— think the system is set up at the moment to _ think the system is set up at the moment to kind - think the system is set up at the moment to kind of- think the system is set up ati the moment to kind of blame think the system is set up at - the moment to kind of blame the consumer. — the moment to kind of blame the consumer, that _ the moment to kind of blame the consumer, that you _ the moment to kind of blame the consumer, that you fell- the moment to kind of blame the consumer, that you fell for- consumer, that you fell for something _ consumer, that you fell for something that _ consumer, that you fell for something that you - consumer, that you fell for something that you maybe j something that you maybe shouldn't _ something that you maybe shouldn't have. _

something that you maybe shouldn't have. joe - something that you maybe shouldn't have. joe o'brien is still fighting. _ shouldn't have. joe o'brien is still fighting. she _ shouldn't have. joe o'brien is still fighting. she has- still fighting. she has successfully sued her alleged scam in court for breaching his duties as a company director. but she concedes she has almost no chance of getting all her money back. phil mercer, bbc news, sydney. before we go, i would like to show you live pictures of hurricane milton which made landfall in florida about one hour ago. this is fort myers beach, a lot of wind and a lot of rain. it is one of the areas feeling most of the damage and most of the impact. hundreds of thousands of people have lost power and there have been mass evacuations across the state the last few days. huge business impact and the personal toll being felt. to stay with bbc news, we will have more information next.

hey, it's lucy with the catch up! tonight... shopping second—hand, money for moving, and a smiling seal. first, people are preparing for hurricane milton as it closes in on florida. it's a category four storm and is expected to hit the tampa area with winds of up

to one i65mph. one of our catch up presenters is in washington, he sent us this. millions have been urged to evacuate with the president saying it's a matter of life and death. residents who are refusing to leave have been told to write their names on their arm so they can be easily identified during recovery. that's how seriously officials are taking this. and it comes just days after storm helene tore through the same parts of florida, but this storm is forecast to be much worse. an update on yesterday's top story — a man has been arrested in dublin on suspicion of the murder of 22—year—old mary ward, who was found dead in south belfast earlier this month. the police say the investigation is progressing at pace. some other stories now — over the next year, nearly two—thirds of us plan to buy something pre—loved to wear new research also says the second—hand clothes industry added millions to the economy last year and created thousands ofjobs.

and welsh#—speaking young families are being offered up to five thousand pounds to return to some areas of wales. the grants could be used to help pay for transport, rent, mortgages, childcare or even welsh lessons. now, ten seconds of this smiley seal. the picture taken by ursula armstrong won the countryfile calendar prize after about 22,000 photos were submitted. she said she was drawn to the seal because of its cuteness. that's us, have a good one!

hello, welcome to sportsday. i'm paul scott, at the bbc sports centre, and here is what we've got coming up route. what we've got coming up. root the record—breaker — joe root overtakes sir alastair cook to become england's all—time leading test run scorer. given new wings — former liverpool managerjurgen klopp is the new global head of soccer at red bull. and novak djokovic sails

through in shanghai with an historic 100th atp tour title in his sights. hello there, welcome along to the programme. now, it is an incredible achievement, and he says there is more to come. joe root is now england's leading test match run scorer of all time. now, he finished the day in multan an unbeaten 176, but it's his total test run figure that has made the headlines. he has now surpassed alastair cook's tally of 12,472, but the journey is not over. now, he made his debut for england back in 2012, scoring 73 in india. just over a year later, he passed 1,000 test runs, on his way to a double hundred against sri lanka at lord's. in 2022, against new zealand,

also at lord's, he became one ofjust 14 players to pass 10,000 test runs.