And events costs are set to climb higher through the remainder of 2023 and into 2024, due to inflationary pressures. Joining me now is suzanne neufang, whos the ceo of the Global Business travel association. Welcome, good morning. Is this a surprise . Its been awhile since pandemic now. I a surprise . Its been awhile since pandemic now. A surprise . Its been awhile since pandemic now. I wish it were. Since pandemic now. I wish it were but since pandemic now. I wish it were. But in since pandemic now. I wish it were. But in shortterm since pandemic now. I wish it were. But in shortterm memory, were. But in short term memory, just a year ago we were still really from omicron variant � s. So we did expect last year that it would be a slower recovery so we were delighted at this time time last a great deal of this you will show another 32 . We added last year at about a trillion us dollars and we should get about 1. 4 trillion as you say by the end of 2024. Are there any areas in particular that have done better, america, europe, where is particularly bouncy . Is particularly bouncy . Yes, but the question is particularly bouncy . Yes, but the question that is particularly bouncy . Yes, but the question that we i is particularly bouncy . Yes, i but the question that we also ask and so what we saw is that Western Europe did particularly well last year and that was on a particularly sluggish 2021, and they, i have numbers for you, Western Europe recovered to about 71 from 2019 levels. We also saw North America and Latin America got a good 2021 already had good pace last year, North America is at about 83 recovery now with Business Travel and the slowest to recover is probably not a huge surprise was apac due to chinese border is closed last year so they are at about eight 76 recovery period, so they are an unknown. When china starts travelling again a lot for International Business that will change things for apac as well. In will change things for apac as well. ,. ,. , well. In terms of cost, everything well. In terms of cost, everything is well. In terms of cost, everything is rising well. In terms of cost,. Everything is rising across well. In terms of cost, everything is rising across the board. Why would someone send someone across the board when they could do things across a skype or zoom . Skype or zoom . Thats the chea er skype or zoom . Thats the cheaper option. Skype or zoom . Thats the cheaper option. It skype or zoom . Thats the cheaper option. It the skype or zoom . Thats the. Cheaper option. It the cheaper option for a lot of things, its replaced phone calls, so having video and Telephone Calls is a great thing but we ask leaders and Business Travellers and what we see is 85 of Business Travellers so they need to travel to get their work time. We also know from Business Leaders is that if theyre not about seeing the people or getting people together, they are not keeping their talent and placements with the Labour Market really still tight but it certainly was upholding many economies today that we see that that is an important part. Seeing people means youre putting culture and making deals and sales is still a big reason why people travel for business. Thank you forjoining us. Suzanne neufang, whos the ceo of the Global Business travel association. Lets get some of the days other news now. Swiss bank ubs has agreed to pay a 1. 4 billion fine to resolve fraud claims in the us stemming from the 2008 financial crisis. It brings to a close the last case brought by us prosecutors investigating banks conduct in the run up to the crash, which sparked a global downturn. Ubs did not admit or deny the claims. Argnetinas central bank has raised its Interest Rate to 118 from the previous 97 , in a move which will devalue the countrys currency, the peso, by around 20 . The move comes after rising support for ultra right candidate javier milei ahead of the countrys election. Milei plans to axe the central bank and stop using the us dollar if he comes into power. And here in the uk, companies vying to buy wilko have been given until wednesday to make an offer for the homewares chain, which fell into Administration Last week. It is understood that wilkos Administrator Pwc has set a deadline to flush out serious bids for the firm. Wilko, which has been trading since 1930, has more than 400 shops and employs around 12,500 workers. Lets now talk about russias currency, the rouble, which has been on somewhat of a Rollercoaster Ride over the past 24 hours. On monday, it slipped to its lowest level in 16 months, falling below 100 against the us dollar, over concerns about the health of russias economy. The central bank plans to hold a special meeting on tuesday and hinted it would raise Interest Rates sharply. The rouble recovered most of its losses after the special meeting was announced. Were nowjoined by gervais williams, whos the head of equities at premier miton. Good morning. How likely is it then that the central bank will raise rates as it hinted . What impact will it have . Its very likely to see further Interest Rates from here. The underlying russian economy is boys running around 5 this year. The budget deficit isnt that large at around 2 . We have to see this in the context of the relatively strong dollar, has not been very strong recently but firming up over the period of velocity or two as theyve been suppressing inflation, there is been few dollars around which means like the argentina passive and the rouble have come under pressure. Rouble have come under pressure rouble have come under ressure. , pressure. The current Interest Rate is 85 pressure. The current Interest Rate is 8. 596 or pressure. The current Interest Rate is 8. 596 or so, pressure. The current Interest Rate is 8. 596 or so, jumped. Pressure. The current Interest Rate is 8. 596 or so, jumped to | rate is 8. 5 or so, jumped to 20 after the ukraine invasion. How high could go with the latest developments . They are talkin latest developments . They are talking possibly latest developments . They are talking possibly of latest developments . They are talking possibly of moving talking possibly of moving between half and 1 in the immediate term and could easily go to further up 10 in the short term. Underlying inflation has been rising the russian economy so that offsetting it but the underlying Economic Growth is there so it can tolerate relatively high Interest Rate in the short term. fix, relatively high Interest Rate in the shortterm. In the shortterm. A lot of exports. In the shortterm. A lot of exports, such in the shortterm. A lot of exports, such as in the shortterm. A lot of exports, such as gas, in the shortterm. A lot of exports, such as gas, but| in the shortterm. A lot of exports, such as gas, but some of the sanctions have been crippling economy in the past year or so. Crippling economy in the past year orso. Gas, oil, that sort of thing, how like can russia continue without getting into a default situation potentially . The sanctions have been pretty hard and thats been a picture either of the rouble particularly in the last three years since the ukrainian invasion but most particularly they have found other customers. The indians, chinese, they brought a lot of oil and gas of them, the underlying oil and gas price has risen recently which is helping them generate more revenues to offset the relatively strong rise in exports, sorry, imports, so weve seen the underlying economy is, under pressure principle because there is a shortage of dollars rather than the rouble itself falling. H0 . . . The rouble itself falling. How Im Actful The Rouble itself falling. How impactful are the rouble itself falling. How impactful are the the rouble itself falling. How impactful are the sanctions and the idea was to squeeze a russia by stopping buying gas. Is that having an effect still . It had a big effect on economy at large, reducing the counterparties in terms of different people buying and selling from their economy so its had significant effect in that regard but if you look at the economy itself it stabilised quickly, it is in a fairly stable form so Going Forward while of these tensions continue to dominate the agenda for the economy at large, the underlying economy has found another equilibrium around these levels in spite of the sanctions. These levels in spite of the sanction these levels in spite of the sanctions. ,. , sanctions. Thank you for your time. Gervais williams, whos the head of equities at premier miton. The latest on the situation with the russian rouble. Lets turn our attention to india now, where the cost of living crisis is continuing to bite. The countrys Retail Inflation Injuly rose to its highest level in 15 months to just below 7. 5 . Thats a huge jump from the 4. 9 in the previous month. This is way higher than the expected and above the central� s bank target of 6 . Our India Business correspondent, nikhil inamdar, has the latest. It isa it is a sharp spike in food prices particularly vegetables thats driving up inflation here in india. Onions, tomatoes and now potatoes are getting dearer and that makes both indianas central bank and the government nervous. Last week the Reserve Bank Of India held its key Lending Rate Study and moved to accessibility of cash from the banking system. The Central Government has recently announced a number of proactive measures to cool down prices. Such as relieving additional colin stocks in the market last week after burning the export of key varieties of rice and wheat. Some relief in prices is expected as the new crop begins to come into the market. The risks from extreme weather and monsoons remain outside risks to inflation. Both and ill be unable to cut Interest Rates and the government facing a crucial election season in the summer of 2024 will be watching the Inflation Scenario very, very carefully. Staying in asia, japans economy grew by 6 on an annualised basis in the second quarter, boosted by a rise in demand for its exports and its weaker currency. The figures show asias second biggest economy has now expanded for three consecutive quarters. Live now to our Asia Business hub of singapore, where Katie Silverjoins us. So katie, tell us more. Thats right so a hugely better than what many economists predicted, almost double that almost the biggest rise weve seen from japan and its terms of gdp in three years. As you mentioned it was boosted by the end which has depreciated in value against a number of currencies, to give you an idea against the us dollar is lost about 10 in the past year and that makes the goods that japan sells to the rest of the world, that exports cheaper. We saw a boost with their carmakers, the likes of toyota, honda, nissan, all posting big profits began void by the fund within the Chip Shortage Decrease and the other element has been tourism, so japan only reopened its borders after covid back in april and since then a huge rebound in recovery to its tourism sector, up about 70 , Going Forward china has recently announced they will allow group to estimate how japan and before the pandemic they met up about a third of they met up about a third of the tourism sector. Thats also going to be good news Going Forward but according to moodys its not all sunshine and rainbows and thats because we seeing slumping domestic demand. Japan has struggled in many years with stagflation or deflation but now it faces inflation, contractor has a four decade high levels when it comes to inflation and that hampering consumer demand. Katie, thank you. Katie silver in singapore. Around the world and across the uk, this is bbc news. Voiceover bbc, voice over bbc, bringing you different stories from across the uk. Firs is no ordinary dog. Thousands of hours of training have made her one of the top five detectives in the country. The top five detectives in the count. ~ , the top five detectives in the count. ~ ,. , country. We put official wave there and country. We put official wave there and will country. We put official wave there and will put country. We put official wave there and will put one country. We put official wave there and will put one size i country. We put official wave i there and will put one size now of diesel, thats the sign el size of a pinhead. She of diesel, thats the sign el size of a pinhead. Size of a pinhead. She will ick size of a pinhead. She will pick that size of a pinhead. She will pick that up . Size of a pinhead. She will pick that up . Hopefully. L size of a pinhead. She will| pick that up . Hopefully. In size of a pinhead. She will pick that up . Hopefully. In two years at 200 callouts shes had a huge impact on catching criminals. A huge impact on catching criminals. , criminals. Vehicle fires, she has indicated criminals. Vehicle fires, she has indicated fuel criminals. Vehicle fires, she has indicated fuel was criminals. Vehicle fires, she i has indicated fuel was poured over the vehicles, she then found a container that contained the same fuel nearby which than the investigating officers, once tested, could get fingerprints or dna from that. ,. Get fingerprints or dna from that,. ,. , get fingerprints or dna from that. ,. ,. ,. ,. , that. She can, a huge amount of round that. She can, a huge amount of ground quickly. That. She can, a huge amount of ground quickly, much that. She can, a huge amount of ground quickly, much quicker. Ground quickly, much quicker than your i could. That means she is unlikely to have time with her toy before she is back out on anotherjob. Voice over for more stories from across the uk, head to the bbc news website. Youre live with bbc news. Here in the uk, injust over one hours time the latest Employment Figures for july will be released. Many will be keeping a close eye on the three month moving unemployment rate, which is predicted to have held steady at around 4 . So what can we expect from todays figures . Michael stull, whos a director at manpower joins us now. Good morning. Good morning to you, michael. How are you . What we expecting . Aha, you, michael. How are you . What we petting . We expecting . A couple of thins we expecting . A couple of things we we expecting . A couple of things we are we expecting . A couple of things we are seeing we expecting . A couple of things we are seeing in. We expecting . A couple of| things we are seeing in our group numbers. We are seeing demand continue to drop. We saw about a 15 drop month over month we have to remember this is coming off record highs, trying to ratchet down a little bit. At that soft landing. The other thing we should see in the numbers are workers returning to the workforce and the Inactivity Rate going down. Just our own numbers show we saw an 18 increase in workers responding to ads year over year, so we are encouraged by that but i do think there are three underlying things to be thinking about within the Labour Market. One is the skill shortages. We still have significant skill shortages, eight out of ten workers Shortage Survey did not find the skills they need in the marketplace. We are seeing rapid changes within how we work. Ai tried to take over. The second thing is, there is still a fair amount of uncertainty, there is hesitation with employers. We do see a bit of a switch away from permanent workers into temporary workers in the last area is going to be interesting to watch, the relationship between the employer and the employee. You see a lot of discussion around the flexibility of work. Employers are continuing to push to get workers back in the office. We know employers offer flexibility are hiring at twice the pace so well continue to see that debate play out over the next, the rest of this year. The next, the rest of this ear. ~. , ~ the next, the rest of this ear. ~. ~. , year. We were talking about the older generation year. We were talking about the older generation to year. We were talking about the older generation to get year. We were talking about the older generation to get back older generation to get back into work. We could see unEmployment Figures creep up. Is that the sort of shift we are getting now, people working are getting now, people working a bit later . A bit later . Exactly. Remember, throu~h a bit later . Exactly. Remember, through the a bit later . Exactly. Remember, through the pandemic, a bit later . Exactly. Remember, through the pandemic, we a bit later . Exactly. Remember, through the pandemic, we had l a bit later . Exactly. Remember, through the pandemic, we had a big exodus of workers that were late in their career and a lot of those are coming back in, coming back into a whole bunch of reasons but also seeing some of reasons but also seeing some of the of inflation coming where workers are needing to come back in. I think thats great for the economy as a whole because we got to get the workforce as big as we possibly can. , ~ workforce as big as we possibly can. , ~ ,. , workforce as big as we possibly can. ~ i. , workforce as big as we possibly can. Thank you for your time this morning. Can. Thank you for your time this morning. We can. Thank you for your time this morning. We will can. Thank you for your time this morning. We will bring l can. Thank you for your time i this morning. We will bring you those figures in a little over one hour when they are released. Now lets focus on something completely different, because celebrity Creative Directors are back in fashion and more companies are hiring famous faces to fill Executive Roles. We sent the bbc� s North America correspondent Michelle Fleury in new york to speak to one of them to find out what is driving this new trend and are they qualified . Dj khaled, the grammy Award Winning music mogul with the midas touch. Lets make some noise his latest partnership with german streetwear brand snipes saw him open a Concept Store in his home town, miami. Its officially open lets go shopping but hes notjust the brands hype man. The golf he is also chief creative officer. A title he does not take lightly. Why are we seeing more celebrities in Executive Roles . You have to remember, people throw that name around, celebrity, which is a blessing, and im very grateful for the world calling me a celebrity, but aat the same time we are visionaries as well. It is beautiful, if you think about it, it is like levels and steps of your hard work and you get to a certain point and boom, look at this, he has his own store with snipes. Lets not forget about the 35 years of hard work to get to where im at today. Given his busy schedule though, how much can a celebrity like dj khaled really contribute . A lot, according to snipes ceo sven voth. He credits the wrapper with turbocharging the companys growth in america from 65 stores to over 300. Being honest, that was a crazy move. The time when we made this deal, wejust had 65 stores in the us and we signed with khaled, we signed with two nba teams and everybody in the United States thought this german guy is a little crazy because this is a little bit too much for what it is. But i think that was the best Starting Point we could have. Its notjust me, its we dj khaleds role is part of an emerging trend of famous faces taking on Executive Roles. Think Pharrell Williams at Louis Vuitton or the rapper future at lanvin. It used to be that to sell products youd hire a celebrity to pose with it, run some tv ads and stick their image on a giant billboard. The huge signs here, part of the attraction for visitors to new yorks times square. But that was in the age before social media. You know, it started back in 2008 when instagram was invented, really. Vanessa friedman is the New York Times fashion critic. Once upon a time, we got most of our Consumer Information through magazines. As the internet allowed direct communication between brands and celebrities and consumers, that stranglehold completely opened up. The floodgates opened. For the stars, she says, its about more than the benjamins. The actual celebrities want more input. They dont just want to be a face, they dontjust want to be kind of giving their image to the brand. They want a say over what their image is connected to. The lack of on paper qualifications may feel unfair, but social media has changed the way the world sees brands. As long as it makes the company money, the celebrity Creative Director is here to stay. Michelle fleury, bbc news, new york. Ice work if you can get it. Here in uk, were in the middle of our annual summer season, when many of us go on holidays to enjoy a bit of sunshine. Its also the peak period for beauty treatment, but with the cost of living crisis, thousands of people are looking to save money by visiting cheaper and potentially unauthorised salons or centres for their surgery. So they may be saving a bit of money, but at what real cost . Were nowjoined by lesley blair, whos the ceo of the British Association of Beauty Therapy and cosmetology. 0 one what kinds of treatments are we talking about and where are prople going to have them . Q two this is all to do with costs what kind of savings are we talking by going abroad . Q three talk us through the pitfalls what do people need to be aware of . Q four howe much of this can we put down to Social Media Pressures . Do you think that social media Tiktok Instagram and love island are fuelling Beauty Treatments abroad . Where people going to have these done what is the issue with that . 50 these done what is the issue with that . With that . So in the uk we do not have regulation with that . So in the uk we do not have regulation are with that . So in the uk we do i not have regulation are present for these protocols. If you go to a medic, they are very much regulated by the oversight people, etc. And we are a lot more governed. There is no regulation for these procedures just now so you can go anywhere and have them done. If you go and have them done. If you go and have them done. If you go and have a treatment done, you can have an occlusion which is a blood clot. And it can cause it to block. You need Prescription Medication which is only available by a medical prescriber. Is only available by a medical prescriber prescriber. Its pretty serious then, prescriber. Its pretty serious then. All prescriber. Its pretty serious then, alljoking prescriber. Its pretty serious then, alljoking aside. Prescriber. Its pretty serious then, all joking aside. What i prescriber. Its pretty serious i then, all joking aside. What do then, alljoking aside. What do people need to look out for . How can people tell they are going to a properly regulated business. ,. ,. , business. You need to ask the ruestion business. You need to ask the question and business. You need to ask the question and its business. You need to ask the question and its made business. You need to ask the question and its made it business. You need to ask the question and its made it so i question and its made it so much more attractive. To go and have these treatments done. There is no oversight in the uk to have these treatments. My advice is to ask about qualifications, to ask if youre the person delivering your treatment. To manage many complications, i think that is very, very important. And just recommendations and past treatments. Always do your research. It is very important. How much of the pressure here can be put down to things like social media. We see people on to talk on instagram, all these amazing pictures and beautiful locations. People looking like they have had surgery. What sort of pressure people under . Because of the airbrushing, editing pictures, etc. We see celebrities, for example, one of the posts recently conducted, there is a 10,000 increase of people applying to go in the programme. I think these programmes are definitely influencing how people want to look and how they proceed. Its look and how they proceed. Its the perfect look and how they proceed. Its the perfect look. What sort of advice would you give to people, dontjump into people, dont jump into something people, dontjump into something its too good . Do your proper homework . D0 something its too good . Do your proper homework . Do your ro er your proper homework . Do your proper homework, your proper homework . Do your proper homework, think your proper homework . Do your proper homework, think about i proper homework, think about what you are doing and i think go and have consultations, ask your therapist, your prescriber, whatever modality or treatment you are going for, ask for qualifications. Weve launched a new campaign called time which is an acronym for the consumer to go and look at therapist was qualified. What treatment are you going for, are they insured and monitored, what is the evidence of this, its all about looking and asking the questions. Thank you so much for asking the questions. Thank you so much for your asking the questions. Thank you so much for your time. Asking the questions. Thank you so much for your time. Leslie i so much for your time. Leslie blau, ceo of the British Association of Beauty Therapy and cosmetology, great advice for anyone looking into cosmetic surgery and the pitfalls and what to look out for. Lets see how the asian markets are faring today. Asian Stock Markets not doing so well. Theyve slipped to 1 month lows this morning. The yuanis month lows this morning. The yuan is struggling as china cut Interest Rates, another round of disappointing but it has to be said underscores the economic malaise. For example, 15 basis points. The largest since the outset of the covid pandemic. Indexes rose on monday. Led by tech shares, especially the video there. Thats it. You are up to date for the sale. Do keep watching. This is bbc news. There were certainly winners and losers with mondays weather. Morning cloud gradually broke up and infact, newquay, cornwall, it was warm enough to venture out to the beach into the afternoon. It was a different story across parts of north wales and northern england. In fact, we saw over two inches of rain, 60 millimetres of rain in some places and it was a pretty dismal day. Now that low pressure is gradually drifting its way eastwards off into the north sea, allowing this ridge of High Pressure to build. So a much quieter start to the story for tuesday. There will be some sunny spells as we go through the day. A few scattered showers will tend to develop particularly heavy ones across parts of Southern Scotland and North East England, maybe with the odd rumble of thunder. But certainly with more sunshine and lighter winds, it will feel a little warmer. Top temperatures possibly as high as 24 degrees, 75 fahrenheit. Now, as we go through tuesday evening, well continue to see some clearing skies, some patchy mist and fog will form. Some of it dense in places and quite stubborn to lift away. It will be a relatively mild start to wednesday morning, with temperatures widely into the low to mid teens. High pressure is going to build as we go through the day on wednesday. So once weve got rid of those misty, murky conditions, first thing in the morning, a few scattered showers perhaps across scotland and northeast england, but on the whole, dry, settled and sunny foremost and a little warmer as well. We could see temperatures peaking at 25 celsius. Thats 77 fahrenheit. Warmer still as we go into thursday, a lot of dry, settled, sunny weather once again across england and wales. Some patchy coastal mist and murk may be lingering in the far south west, but temperatures could peak once again widely into the mid 20s. Maybe one or two spots in the south east could see temperatures into the high 20s. And thats because were going to continue to tap into some warmth thats coming up from the near continent, not the extreme heat that they have been seeing, but certainly as we head towards friday, well see an increasing spell of heat and humidity. But at the same time, it comes with a caveat as this weather front pushes in from the west on friday, it could trigger off some sharp and thundery downpours as it continues to track its way steadily east. Good morning. Welcome to breakfast with sally nugent and jon kay. Our headlines today. Donald trump is indicted for a fourth time. The former us president is charged with 11 counts in georgia over alleged attemtps to overturn the results of the 2020 election. The death toll in the hawaii wildfires rises to 99 as officials warn that number could double in the next few days. The government promises 5,000 extra beds for the nhs this winter, but critics say there arent enough people to staff them. Good morning from skegness. A return to the Great BritishStaycation Has led to seaside towns having lots of jobs on offer. But why are they struggling to fill some of them . In sport this morning. As chelsea confirm the arrival of record signing Moises Caicedo in that british record fee, why the london club arent done yet, with rivals liverpool missing out again. Good morning. Today is going to be a day of sunshine and scattered showers, the heaviest of which will be across North East England and south east scotland, and it looks very much like it is going to turn warmer and more humid as we go