Of protecting its Market Dominance in Online Retail at the expense of consumers and third party sellers. Our north American Business correspondent erin delmore has more from new york. Its a case that has been in the works for years, under the watchful eye of ftc chair lina khan, who made her name in the Antitrust World With A Blockbuster 2017 legal paper detailing amazons monopoly footing. On thursday, khans ftc struck its widest blow against amazon yet a sweeping lawsuit alleging the company stifled competition in its online marketplace. 17 statesjoined in. The lawsuit challenges a bunch of amazons business practices, including prioritising its own products in search results, ahead of ones by third party sellers, and anti discounting measures that ensured sellers list their lowest prices on amazon, and requiring sellers to use amazons network of Delivery Services as a condition of being included in its popular prime subscription service. Rivals, according to the ftc, just couldnt compete. But amazon rejected those accusations, saying that the low prices and fast delivery that customers enjoy are thanks to those very practices. Amazons Share Price Fell on the news, but is still up year to date. The case is the latest in a wide ranging effort in washington to rein in the power of big tech, and the fourth targeting amazon directly. This new case is expected to take years to work its way through the courts and, while the ftc says its seeking an injunction blocking amazons unlawful conduct, it also raised the spectre of a restructuring. Lets discuss this with dan ives, Managing Director and senior Equity Analyst at wedbush securities. Dan, good to have you on the programme. So what do you think, is amazon guilty . Look, i think be think, is amazon guilty . Look, i think be another think, is amazon guilty . Look, i think be another black think, is amazon guilty . Look, i think be another black i think, is amazon guilty . Look, i think be another black i on i i think be another black i on the ftc, because as we continue to see with big tech, ijust dont believe from an antitrust perspective theyll be able to get this over the goal line. I think the view is the bark will be worse on the bite dust in the bite. � be worse on the bite dust in the bite be worse on the bite dust in the bite. � ~. ,. , , the bite. But amazon is ust so rolific the bite. But amazon is ust so prolific and i the bite. But amazon is ust so prolific and dominant. The bite. But Amazon Isjust so prolific and dominant. Looking| prolific and dominant. Looking at it from a Layman Puzzle in point of view, you can see why the regulators are going after them, cant you . H0 the regulators are going after them, cant you . The regulators are going after them, cant you . No doubt, but as weve seen them, cant you . No doubt, but as weve seen with them, cant you . No doubt, but as weve seen with her, them, cant you . No doubt, but as weve seen with her, theyve| as weve seen with her, theyve gone with every Big Tech Move and lost again and again. This will be another blow for the ftc and con. Amazon will fight this and will take years, but in terms of, does this impact the Business Model . We dont think so, i think amazon will successfully fight it which is why weve been guiding our investors here that the noise will be worse than the reality over the coming 12 18 months. Thats where i was going next, will amazon try and preempt any forced restructuring by changing its ways in advance, in a bid to try and please regulators . But from what youre saying, they wont do that, theylljust fight youre saying, they wont do that, theyll just fight this . Yes, because i would be a position of weakness. As weve seen with microsoft exit microsoft activision and others, big tech is not afraid here. And ultimately they win against the ftc, thatlljust increase big techs footprint, especially with al and other technologies, and get stronger and stronger here despite was coming out of the beltway. find coming out of the beltway. And amazon seems coming out of the beltway. And amazon seems to coming out of the beltway. And amazon seems to be going from strength to strength, we just heard its hiring thousands of extra workers ahead of the christmas season, it did so well during the pandemic then readjusted afterwards, as well. No doubt, and we are starting to see them come back from an e commerce perspective, but they are also going aggressive on al, in terms of what we are seeing following the footsteps of microsoft and google. I think it shows that in this market, Big Tech Isjust flexing their muscles despite what we are seeing from lita khan and the ftc again and again. Khan and the ftc again and aaain. ,. H again. Dan, thanks so much. Lena con well, the latest data shows that Us Consumer Confidence has tumbled, as american� s anxiety about the future grows. Rising prices for everything from food to gasoline and higher Interest Rates for a prolonged period is on the minds of everyone and caused a sell off on wall street on tuesday. For the broader market, the s p 500 and the nasdaq both hit their lowest levels since early june. Consumers are also expressing concerns about the political situation, with much talk of another Government Shutdown at the end of this month. Live now to tom stevenson, Investment Director at fidelity. Good morning to you, tom. Good mornin , good morning to you, tom. Good morning, tammy. Good morning to you, tom. Good morning, tammy. Not good morning to you, tom. Good| morning, tammy. Not surprising, is it, to morning, tammy. Not surprising, is it. To see morning, tammy. Not surprising, is it, to see the morning, tammy. Not surprising, is it, to see the impact morning, tammy. Not surprising, is it, to see the impact of morning, tammy. Not surprising, is it, to see the impact of the is it, to see the impact of the higher interest democrat Interest Rates, the moves from the Federal Reserve hitting people in the pocket . Theres alwa s a people in the pocket . Theres always a lag people in the pocket . Theres always a lag between people in the pocket . Theres always a lag between the always a lag between the imposition of higher Interest Rates and the impact on the real economy on that, as you say, on peoples pockets. And i think thats what people are concerned about now, the key question when i talk to my colleagues, the key question is, are we headed towards a recession in the us . And the jury recession in the us . And the jury is out on that. If you talk to individual companies, analysts are quite positive, but if you talk to our Strategy Colleagues and a look at the impact of Interest Rates, they just think that we cant avoid heading towards a recession. So thats the tension at the moment and its playing out in the markets, and thats why weve had three weeks on the trot of falling stock markets, the s p 500 and the nasdaq both fell heavily yesterday, and they have been falling for the last month or so. We are now back to levels that we havent seen for a few months. find back to levels that we havent seen for a few months. And its interesting. Seen for a few months. And its interesting, in seen for a few months. And its interesting, in the seen for a few months. And its interesting, in the data seen for a few months. And its interesting, in the data in seen for a few months. And its interesting, in the data in the l interesting, in the data in the analysis that came with that that americans are quite concerned about political instability. We had joe biden yesterday on the picket lines talking to workers on strike in the auto industry, saying, you deserve more, you should get more money. We have donald trump arriving there today, we have this impasse in congress about spending and talk of a Government Shutdown. It is weighing on people, isnt it . Yes, i think that adds to the general concern. I dont think its the most important issue, i think the big question is what happens to Interest Rates next. And it was the news last week from the Federal Reserve that Interest Rates may actually have further to go, what may be one more quarter point rights in november. Of the most important thing the fed said last week was Interest Rates would come down much more slowly than we had anticipated, and a Gentle Glide Path over 2024 25, and that wasnt factored into the market. The market was anticipating a quicker fall market. The market was anticipating a quickerfall in Interest Rates, its now looking like we wont get the first cut until nextjune. Before we let you go, i want your take on the pound. Sterling fell to a six month low against the dollar, whats going on . Low against the dollar, whats auoin on . , � , going on . Quite simply its the differential going on . Quite simply its the differential in going on . Quite simply its the differential in those going on . Quite simply its the differential in those interest i differential in those Interest Rates between the us in the uk. If you go back tojuly, the expectation was that in the uk, inflation was strong, the economy was quite strong in Interest Rates would therefore have to rise. We are looking at a peak of 6. 5 we are now not looking at that, its likely after last weeks unexpected hold in Interest Rates, uk Interest Rates will go further, so the Income Advantage in Holding Uk Sterling based assets is no longer there, and thats whats happened. So its fallen to a low of about 1. 21 which was lower than it was in july. Which was lower than it was in jul. ,. ,. , which was lower than it was in jul. ,. , here in europe, the French Economy is in focus, as its Budget Day There today. Bruno le maire, frances finance minister, will present the Draft Budget Bill for next year. He has promised to bring frances debt down and cut public spending by 16 Billion Euro in 2024 but hes promised to do this without raising taxes. So how will he pull that off . Also le maire has warned that france could lose out on Ten Billion Euro in eu funds if it doesnt adopt long term Public Finance plans. To discuss the challenges, im joined by 0livier Redoules head of studies at economic think tank, rexecode. Good to have you on the programme. Hes got quite a challenge ahead, hasnt he, Bruno Le Maire . Talk us through what he is likely to say in this budget. What he is likely to say in this budaet. ~ ,. , this budget. Absolutely, the difficult part this budget. Absolutely, the difficult part is this budget. Absolutely, the difficult part is that this budget. Absolutely, the difficult part is that he difficult part is that he committed not to raise taxes. And actually, when we look at the tax situation, there is, strictly speaking, no tax increase, but it insists on, like Tax Exemptions are set to decrease. Localtaxes like Tax Exemptions are set to decrease. Local taxes also set to increase. Additionally certain tax cuts are postponed, like the corporate tax. Theres also been some talk on. So its different balance to strike. ~ ,. , strike. Will he pull it off . Because strike. Will he pull it off . Because of strike. Will he pull it off . Because of course, strike. Will he pull it off . Because of course, this l because of course, this government is extremely unpopular, where president macron pushed through Retirement Reform that saw protest right across france much of this year. Wilt Bruno Le Maire have the backing he needs to make these difficult choices . �. , needs to make these difficult choices . �. ,. ,. , choices . Actually, what would be useful would choices . Actually, what would be useful would be choices . Actually, what would be useful would be what choices . Actually, what would be useful would be what we i choices . Actually, what would l be useful would be what we call 49. 3 article of the constitution. We will have a new position in the parliament. And the outlook for the French Economy currently, how is it doing compared to germany . We know germany is going through very tough time, as is the uk economy. How is france doing . France is doing better in 20 20 33, we are seeing growth. But we saw a sharp slowdown in 2024. Besides, Bruno Le Maire with the budget, expect a stronger going to a 24, around 1. 4 gdp growth. But this level. For Public Finance. Thank you, good to get your take on that, we will keep a close eye on how the day progresses in france. Lets get some of the days other news now. Us President Joe Biden made an unprecedented visit to a picket line of auto workers the first sitting president to do so. This was yesterday today his would be challenger, donald trump, is due to arrive. There are worries that the strike targeting three major us Car Companies could dent growth in the Worlds Largest economy. But despite that, joe biden said backed the striking workers who are calling for a 40 pay raise, telling them they deserve a lot more than they are getting. And while were talking about trump as youve been hearing, a new Yorkjudge Has ruled he repeatedly misrepresented his wealth by hundreds of millions of dollars to banks and insurers. The decision resolves the key claim made by new yorks Attorney General in her civil lawsuit against the former president. It is a major blow for mr trump before the case goes to trial next monday. Writers will return to work in hollywood later today. The Hollywood Writers Union says its members could return after being on strike for nearly five months. The Writers Guild of america reached a Contract Agreement with Hollywood Studio bosses after Marathon Talks over the weekend. The deal includes pay raises, protections around the use of Artificial Intelligence and other gains. The wgas 11,500 members still have to vote to ratify the contract themselves. And still to come the breathtaking super yachts. The Monaco Yacht Show opens today and despite The Cost Of Living crisis, demand for big boats seems to be as strong as ever. Around the world and across the uk, this is bbc news. Bringing you different stories from across the uk. Harry burns started as an apprentice at trent barton in 2011, but now hes an award winner. Hes been named the best in the business after going up against Rival Boss Companies at a skills challenge. You go day to day doing your job to the best that you can. But to compete against other people that that you would presume are better than yourself to actually go compete and beat them people, its nice to know that youre good at what youre doing day to day. So the Inspection One that i did was inspecting a vehicle, picking up faults with it. Are they 0k, are they not . And then, categorising it to the inspection manual, and the marking down what failure that would be in the category. But theres other tests stripping down engines, tyres, and all sorts of air valves and braking systems. Harrys gone from being an apprentice to helping train new ones. Trent barton has upped its investment this year, and has taken on more than double the usual amount of apprentices. Its nice to to make a difference, and ifeel like the position im in, i can make a difference. For more stories from across the uk, head to the bbc news website. Youre live with bbc news. Lets now head down under, where The Cost Of Living is going up. Australias inflation accelerated in august, driven by a surge in fuel prices but the good news is the gain was in line with expectations, and a measure of Core Inflation eased. Some economists now predict this makes another hike in Interest Rates less likely. Live to sydney, and our correspondent there, phil mercer. Hello, phil. Just talk us through what we found out today about inflation and whats going up and down. I dont think most going up and down. I dont think most australians i going up and down. I dont think most australians willj think most australians will need these official figures from the bureau of statistics to realise that many things seem to be getting even more expensive. In the year to august, inflation in this country rose by 5. 2 , and the villains in the piece, if you like, were fuel, up by more than 9 , Housing Costs up as well, along with food and insurance premiums. So for many australians, these cost of living pressures are continuing. And the government believes that these monthly Inflation Figures are far more volatile than quarterly numbers, and the Labour Government here in australia believes that inflation is moderating. So for the year to august, inflation is up by 5. 2 and as it stands, the peak of inflation in australia in recent times was last december when inflation stood at 8. 4 . So certainly things a lot better today than they were at christmas of last year, but still a lot of concern about where inflation is heading, and crucially what the Reserve Bank Of Australia will do and its Board Members are due to meet on tuesday of next week. So Board Members are due to meet on tuesday of next week. On tuesday of next week. So not lona to on tuesday of next week. So not long to find on tuesday of next week. So not long to find out, on tuesday of next week. So not long to find out, and on tuesday of next week. So not long to find out, and i on tuesday of next week. So not long to find out, and i would i long to find out, and i would assume most are hoping they would keep Inflation Rates on hold. Do they have the job of trying to get inflation to a certain level . For example in the us, its 2 . Certain level . For example in the us, its 2 . The us, its 2 . There are economic. The us, its 2 . There are economic, as the us, its 2 . There are economic, as well the us, its 2 . There are economic, as well as i the us, its 2 . There are i economic, as well as political imperatives around inflation. The Reserve Bank Of Australia has been using Interest Rates, raising Interest Rates in an effort to team inflation. The Central Bank Of Australia has a range of a democrat inflation between 2 3 , so as it stands, current inflation is somewhere above that. There is expectation that it will be in that target band by 2025, but certainly homeowners and people going out shopping for petrol and shopping will know that prices are increasing and worth noting too that a third of australians rent, rent is increasing and a third of australians have mortgages, mortgages are going up, and australians own their homes are outright. But certainly inflation and cost of living pressures are the number one political concern not only for the government, but for voters, as well. � ,. , as well. And it is in many countries as well. And it is in many countries around as well. And it is in many countries around the i as well. And it is in many i countries around the world. Phil mercer, thank you. We need more female role models in the workplace thats according to vivien wong, the co founder of little moons, the ice cream snack maker. The entrepreneur spoke to the bbc for the latest of our paths to success series. The one thing i wish i knew before i started running my own Business Isjust how all consuming it can be in the most wonderful way, because this is your bay baby, you live and breathe it. This is your baby. So, some of the hurdles specific to little moons that we faced is growing too quickly. So when we went viral on tiktok, we werent ready to meet the demand that suddenly came our way. And so, you just have to be ready to pivot and do everything you can to adjust your strategy, pull in your team, and just be agile in how you respond to unexpected events. I feel like theres a huge amount of responsibility to try and affect change. Seeing how difficult it is for women in a corporate structure, where its quite structured ive tried to be a bit more human about allowing people time off for work, for children, family, just life. I ask everyone to ask for pay rises i didnt have the confidence to ask for a pay rise when i worked for a corporation. Its really important for me to start set an example. And i saw it with my mum, my mum started her bakery because back in the � 70s, there were no labour laws to support women when they had children. And so, she was forced out of herjob, and she had no choice but to start her own business. And i think women starting their own businesses is such a force for good. Womens confidence is something that definitely limits us, and we need to build our own Self Confidence and self belief. I think we also need role models from a diverse background, age, ethnicity because if you cant see it, you cant be it, and so we really need more female role models so women can see that we can do it. And you absolutely can. I must sa , i and you absolutely can. I must say. I love and you absolutely can. I must say, i love this and you absolutely can. I must say, i love this series, and you absolutely can. I must say, i love this series, we i say, i love this series, we have ceo secrets, they are on our website, have ceo secrets, they are on ourwebsite, do have ceo secrets, they are on our website, do take a look, there are plenty more quite Interesting Company bosses telling us how theyve done it and how they got to where they are. If youre a very successful ceo, you may be able to purchase a super yacht. The Principality Of Monaco is gearing up for its annual celebration of superyachts. The Monaco Yacht Show opens today and, despite a cost of living crisis and global turmoil, at the yachting worlds most glamorous event, its business as usual. This is probably one of their most glamourous events. Live now to chuck cashman, chief Financial Officer of marine max, which has the largest yacht at the show, carinthia vii, which is listed for charter. Is that right . Good morning, es it is that right . Good morning, yes it is is that right . Good morning, yes it is we is that right . Good morning, yes it is. We are is that right . Good morning, yes it is. We are very is that right . Good morning, yes it is. We are very proud i is that right . Good morning, | yes it is. We are very proud to represent carinthia vii, and it is one of the most important yachts in the world. So is one of the most important yachts in the world. Is one of the most important yachts in the world. So tell us about it yachts in the world. So tell us about it how yachts in the world. So tell us about it how big, yachts in the world. So tell us about it how big, how i yachts in the world. So tell us about it how big, how manyj about it how big, how many rooms, what does it cost to charter it . Charter it . Well, i think the cost to Charter Charter it . Well, i think the cost to charter it charter it . Well, i think the cost to charter it is charter it . Well, i think the cost to charter it is to i charter it . Well, i think the cost to charter it is to be i cost to charter it is to be determined, there are so many variables that go into that. But boats of that magnitude charter for well over 1 million a week. But its a very curated expense, its something experience, its something where theyll sit with the charter guest and figure out what the perfect itinerary is, and all of that will have the variables they will determine the ultimate cause. Cost. But its 97 metres, which is 318 feet, its magnificent. Its an historic boat that went into the guard after it sold a little over a year ago, and they did quite an extensive refit. So whoever gets on it now will really be experiencing almost your brother got pristine but balanced with tremendous heritage. Bud pristine but balanced with tremendous heritage. And must sa , this tremendous heritage. And must say, this summer, tremendous heritage. And must say, this summer, my tremendous heritage. And must say, this summer, my husbandl say, this summer, my husband and kids and i all trundled down to the South Of France and our car, we drove all the way down there and did monaco, we walked around and saw these incredible super yachts they are breathtaking, and you say 1 million a week to charter, give us a sense of what you get for that. Who is buying these yachts now, is the war in ukraine a big headache . Weve seen and of course at the start of that war, when sanctions were imposed on the super wealthy in russia, some of them bought huge boats and they were put on ice, as they work, they were detained. What has that meant for your industry . First of all, turmoil meant for your industry . First of all, turmoil like meant for your industry . First of all, turmoil like that i meant for your industry . First of all, turmoil like that in i of all, turmoil like that in the world has a Ripple Effect worldwide. Russia specifically wasnt as impactful to us, its a small percentage of our business, some of our clients did fall on that list, others didnt, yet they are clouded by their nationality. So its impacted the industry a little bit, but although they own some of the biggest boats in the world, its not the Core Super Yacht business. 50 world, its not the Core Super Yacht business. World, its not the Core Super Yacht business. So where is the core business, yacht business. So where is the core business, then, yacht business. So where is the core business, then, is yacht business. So where is the core business, then, is it i core business, then, is it coming from The Middle East . Where is it coming from . Bill where is it coming from . All over, where is it coming from . All over. Still where is it coming from . Fill over, stillthe us, the us is over, still the us, the us is still very strong, if it isnt 50 of the super yacht business, its close, probably swings a little bit and that 4060 the middle swings a little bit and that 40 60 The Middle East is certainly in that range. Certainly europe has tremendous wealth its kind of balanced very well, theres no, other than i would say the us definitely leans to the greatest percentage. Taste definitely leans to the greatest percentage. We are almost out greatest percentage. We are almost out of greatest percentage. We are almost out of time, greatest percentage. We are almost out of time, i greatest percentage. We are almost out of time, i could l almost out of time, i could talk to you at length, because we all find absolutely fascinating, a world that most of us will not experience. Thank you for being on the programme and enjoy the show, the Monaco Yacht Show opening today. Lets show you financial markets, and you can see how things have been progressing today. So we saw earlier in the programme, there is quite a big fall on wall street tuesday this always plays into how the day progresses in asia. As you can see, japan down by. 4 , hong kong, Mainland China seeing a recovery. Weve seen quite a bit of selling going on in china in particular because of the ever grand real estate story thats been developing this week. So to date on the top business stories, thank you again for your company. Ill see you again soon. Hello there. Storm agnes is going to be bringing some very strong winds to irish sea coasts during wednesday, could bring some disruption. At the moment, agnes is rapidly developing underneath this Powerful Atlantic jet stream. Theres some evidence that we might see a Sting Jet Form thats something that really accelerates the winds and at its peak, well out to sea, the winds are modelled to reach 120mph in gusts, so some ferocious winds. They will stay well away from land. And, actually, by the time agnes works across the uk, it will be working in as a weakening area of low pressure. Still, though, the winds Strong Enough to bring some disruption, as well see in a moment. Now, if youre outside at the moment, you might notice the winds picking up across wales and southwest england. Otherwise, its a breezy kind of night. Quite cool for scotland, where therell be 1 2 showers, the Weather Turning increasingly mild as we head into the first part of wednesday morning for england and wales. Now, the strongest winds from agnes will be working through irish sea coasts where gusts could Reach 60s 70s of miles an hour, Strong Enough to bring some disruption. It will be a bright start with some sunshine for scotland, and Eastern England having a relatively quiet day. Its through the afternoon that we get this swathe of really strong winds moving in, the winds Strong Enough to bring some power cuts, maybe some transport disruption, ferries perhaps running with cancellations or delays. And well probably see some trees being blown over as well due to those strong winds. And the winds continue overnight across Northern England and scotland, so very windy here wednesday night before agnes starts to clear out into the norwegian sea. We then get a ridge of High Pressure just ahead of the next system, and what that means is actually, for thursday, many of us, at least for a time, will see a slice of dry weather with a bit of sunshine as agnes works away before the next band of rain works in through the course of the afternoon. Some of the rain could be quite heavy in the west thursday afternoon. Continues to be mild temperatures about 16 20 celsius, and another relatively mild day on the cards for friday. There will be lots of showers around for scotland, northern ireland, the far north of england, perhaps merging together across the far north of scotland to bring some wetter weather, whereas across southern areas of england and wales, it looks like being a dry day on friday with some warm spells of sunshine temperatures 16 21. What about the weekend Weather Prospects . Well, things look quite unsettled at the moment. Were looking at the risk of showers or some longer spells of rain for many of us this weekend, but it will stay on the mild side. Bye for now. Good morning. Welcome to Breakfast Withjon Kay and sally nugent. 0ur headlines today. Calls for bolder measures to tackle truancy a group of mps says one in five children regularly miss school in england. You feel like youre not good enough for your children, that you cant do it, but. I felt quite deflated actually. But, yeah, it was hard. The uks first safe space for taking Illegal Drugs is expected to be given the go ahead in glasgow this morning. Ajudge in new york rules donald trump committed fraud for years by repeatedly exaggerating his wealth. Warnings this winter will be tougher than the last for many households, and one charity says its given Crisis Support to a Record Number of people this year. In sport