hello, and welcome to business today. i'm katie silver. 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 recognised business leaders. prime minister narendra modi has hailed him as a "visionary business leader, a compassionate soul and an extraordinary human being". the bbc�*s samira hussain takes a look at the life of mr 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, he 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 ratan tata on our live page on our website, bbc.com. china stock markets opened around 2% higher on thursday, as investors looked ahead to a briefing by the finance ministry over the weekend, where there are hopes of more stimulus. shares on the mainland saw their biggest drop in more than four years on wednesday, with the csi 300 index closing around 7% lower. since returning from the golden week holiday, chinese authorities have promised to boost the economy, but provided few details. in the order of about $28 million. 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 dampening sales for retailers, tourism is lifting sales at convenience stores.

but according tojesper koll, from monex group, more needs to be done to boost domestic consumption. i expect quite good results here, particularly for fast retailing. their global business is going very strongly. and the domestic business is also being helped by this surge in inbound tourism here. so, overall, the profit numbers for the retail space are looking good. you mentioned that surge because of the high amount of tourism, and a lot of that is to do with the weak yen. with the yen showing some signs of improvement recently, are you seeing that might impact tourism to the downside? look, i think it's quite clear that the big surge and resurging of inbound tourism injapan we've seen over the last year and a half is peaking out here. 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's 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's lots of room for industrial roll—ups. interesting you mentioned about the domestic 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 the bright spark is the younger generation, because it's 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 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 injapan. and as a result of that, the baby boom generationjust simply isn't spending. so this consumer market — old japan not spending, young japan spending — that's something to watch out for. jesper koll. australian authorities are warning that more people are falling victim to online and otherfraud. the australian securities and investments commission says it is making progress in its efforts to stem the seemingly unending tide of scammers. from sydney, phil mercer reports. jo o'brien was driving when she received life—changing news. she'd lost her life savings in a sophisticated investment scam. $340,000 disappeared. the melbourne mother blames herself, but also says

she was let down by her bank for failing to identify and stop suspicious transactions. i pulled over and ijust cried my eyes out. ijust could not believe that this had happened to me. and i've neverfelt a feeling like that before. it's worse than when someone dies. because australian law is so slack, 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 scammer, but is unlikely to get any of her money back. he had himself down as the director with an address in western melbourne. so i was so angry and i had nothing to lose, so ijumped in my car and drove over and knocked 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 almost everyone, financial desire and, uh, in tough economic times, financial vulnerabilities. so it's usually a scam that says, you know, if you don't do something, you will lose your money, or if you do something, you'll gain a lot. scams are costing australians more than $3,500 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 think it's incredibly- prevalent, the shame that people feel, that they feel like it was their fault. - i think the system is set up at the moment to kind -

of blame the consumer, i that you fell for something that maybe you shouldn't have. jo 0'brien is still fighting. she has successfully sued her alleged scammer 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. the country's leader william lai in taipei is addressing a crowd celebrating the 130th anniversary of the island. we can bring you some sound, this is what he has to say. translation: ., ., , translation: taiwan can help, it's not just _ translation: taiwan can help, it's notjust a — translation: taiwan can help, it's notjust a slow— translation: taiwan can help, it's notjust a slow game, - translation: taiwan can help, it's notjust a slow game, it - it's notjust a slow game, it is a movement by the people of taiwan to cherish peace and do good for others. in the past, our people going out into the world equipped with only a

brief case sparked taiwan as met economic achievement. now, chip technology helped the whole world and has become a global force for prosperity and development. the people of taiwan are diverse and they are fearless. the people of taiwan are truly courageous. a daughter of taiwan is a queen of the boxing world. at 17 years old, taiwan's own but steady hands to work and won first place for woodwork and global skills competitions. an first for air conditioning using skills passed down by one man's father. a new generation of a made in taiwan used is

putting a new shine on an old label. —— are made in taiwan youth. i want to thank generation after generation of citizens for coming together and staying together through thick and thin. the republic of china has already put down roots in taiwan and the republic of china and the people's republic of china... president william lai speaking, delivering his first national day address since he took office in january. day address since he took office injanuary. as you heard, calling the people of taiwan courageous and. his speech no doubt been closely watched by neighbouring china. and that's it for this edition of business today. thanks for watching.

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 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. it also says the second—hand clothes industry added £320 million to the uk's money last year and created thousands of jobs. and welsh—speaking and young families are being offered up to £5,000 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. 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 on 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 ofjust14 players to pass 10,000 test runs.