joe biden entered the conversation trying to dispel some of the concerns about his age and fragility and ability to communicate effectively and he just didn't rise to the occasion and i think that is a bit of a shame for him and the campaign because that will be the story from this discussion. it was halting and raspy and stumbled over some statistics and indeed, misquoted some of them as well, especially in instances of his economic performance which is every bit as strong as the former president's so i think looking through it in that prism does make it difficult reading i think for a lot of democrats and really does change the game very quickly heading into the summer months.— very quickly heading into the summer months. ., ., ,., summer months. you mention some statistics he — summer months. you mention some statistics he stumbled _ summer months. you mention some statistics he stumbled over- summer months. you mention some statistics he stumbled over and - statistics he stumbled over and i wonder which ones stood out for you? i wonder which ones stood out for ou? ., , for you? ultimately, when he talked about _ for you? ultimately, when he talked about the _ for you? ultimately, when he talked about the number- for you? ultimately, when he talked about the number of. for you? ultimately, when he i talked about the number ofjobs that his economy had created, i think he said something in the line 15000 and it's about 15 million so straightaway, it was something that will pounce on. he talked about ultimately the cost of some of mr trump's economic plans with regards to tarriffs which he said were going to add about $2500 to the bill of the average american and i think the number somewhere around 2300 and some other missteps as well i think he was on from a good footing then and should have hit the trump bit harder but again, that sort of uneven performance came out in those numbers and indeed, othertopics came out in those numbers and indeed, other topics as well. how would you describe the us economy at the moment? i think it's uuite economy at the moment? i think it's quite strong, _ economy at the moment? i think it's quite strong, to _ economy at the moment? i think it's quite strong, to be _ it's quite strong, to be honest. we have the longest running the united states of unemployment under 4% in more than two years and some of it was the momentum from the resurgence of the economy after the pandemic but a lot of it is down to policies put in place by the biden administration. it's the fastest—growing of the largest economies in the world. it who want a job can find one but i think ultimately, the weakest point in the economic discussion from mr biden is the fact that inflation is just so stubbornly high. if you look at it from really the cost of food, the average grocery prices are up about 20% since the pandemic and you cannot lay that at the feet of president as such but american voters do tend to associate but high inflation with the sitting administration, so that's really one of the weakest points of the economic growth story but by and large it has been quite successful, especially with respect to job creation but also just in the sense of broader economic growth. it's come at a high cost. inflation is one thing and rising deficit levels are another but they have not been something that have troubled americans in the past. martin baccardax. lots of questions about fact—finding and pushing back so some points have been cleared up there. thank you. president macron astounded france when he called the snap parliamentary election in reaction to a big victory for his rival marine le pen's national rally in the european parliament vote. this sunday voting beings as the first of two rounds of elections starts. the next takes place onjuly 7. the elections won't threaten mr macron�*s own job as they are separate from the presidential elections. there's been volatility in the french financial markets since the election announcement and on thursday, the bank of england said some "global vulnerabilities," including political uncertainty in the uk and abroad, could impact the sector. it said upcoming elections worldwide could "lead to financial market volatility". let's hear now from marco buti, former director general for economic and financial affairs at the european commission. he's now professor at the european university institute in florence. hello and welcome. good morning- _ hello and welcome. good morning. thank - hello and welcome. good morning. thank you - hello and welcome. good morning. thank you for l hello and welcome. good - morning. thank you for having me. ~ . ., . , morning. thank you for having me. m ,�* me. much volatility has mr macron added _ me. much volatility has mr macron added to _ me. much volatility has mr macron added to the - me. much volatility has mrl macron added to the french financial system when he announced the snap elections? what damage did you do? i mean, it was a sudden _ what damage did you do? i mean, it was a sudden decision _ what damage did you do? i mean, it was a sudden decision not - it was a sudden decision not respected by basically anybody. so, markets that took note of that. france, in a sense, since the global financial crisis after the lemon brothers was in after the lemon brothers was in a sense shielded by financial market turmoil because it was seen as basically supported fully by germany in the franco german couple and now, the decision, orfear inaudible —— lehman brothers. i decision, or fear inaudible -- lehman brothers.— lehman brothers. i think we have lost— lehman brothers. i think we have lost our— lehman brothers. i think we have lost our guests - lehman brothers. i think we have lost our guests marco l lehman brothers. i think we i have lost our guests marco buti which is a shame. if we re—establish communications with him we will hopefully get back to him. in the meantime, let's look at the steel industry. in the uk, workers at tata steel have been told the company is taking steps to potentially cease operations at the plant byjuly 7 because of a strike by the trade union unite. the company had originally been planning to shut down one of the blast furnaces by the end ofjune and the second one by september but port talbot workers have been told that because of the strike from 8july, the company can no longer be assured of sufficient resources being available to ensure safe and stable operations. live now tojoshua mahony, chief market analyst at scope markets. hello. this story has been rumbling for some time, hasn't it? tata and the future of port talbot. what do you make of the latest development? inaudible. sa that latest development? inaudible. say that they _ latest development? inaudible. say that they are _ latest development? inaudible. say that they are inaudible. - say that they are inaudible. joshua,it say that they are inaudible. joshua, it seems that we've lost you as well.— joshua, it seems that we've lost you as well. yes exactly, look, lost you as well. yes exactly, look. there — lost you as well. yes exactly, look, there you _ lost you as well. yes exactly, look, there you inaudible. | lost you as well. yes exactly, l look, there you inaudible. £1 million per day on this plant inaudible.— inaudible. joshua, i do apologise _ joshua mahony. u nfortu nately, we unfortunately, we don't have joshua's sound. i do apologise for this. joshua's sound. i do apologise forthis. let's joshua's sound. i do apologise for this. let's turn our attention to china. now, china has set itself some tough new tech and economic goals as the country struggles — still — to bounce back from the impact of covid—19. let's hear more on that now with suranjana tewari in our asia business hub. how are they doing, suranjana? i hope we've got you! how are they doing, suran'ana? i hope we've got you!�* i hope we've got you! well, we have not i hope we've got you! well, we have got news _ i hope we've got you! well, we have got news of— i hope we've got you! well, we have got news of a _ i hope we've got you! well, we have got news of a very - have got news of a very important political meeting, and that's closely watched the signals on china's economic direction going forward. we now know that the third play them, as it's known, will be held from 15—of this year and this was expected last autumn and is not expected why there has been a delay but leaders will want to set the tone for higher reform and how it might look in china going forward —— plenum.t when they want to re—enter —— reorient the economy away from state investment and base growth around technology and innovation and really fuel domestic spending. all this is because leaders are still waiting for a full rebound in the world's second economy. they've been waiting for about 18 months now, which is when those coupling covid restrictions ended and we are still waiting on any significant announcements to tackle the crisis in the property sector in the country. experts are saying that the meeting could lead to policy announcements to help the sector. perhaps tax reforms to support the property sector and other industries as well. there is a wide recognition among china's leadership that reforms are essential to achieving high—quality growth. so, this meeting will be decisive in defining china's economic policies for a decade to come and, clearly, there is a lot riding on it.— riding on it. very quickly, suranjana. _ riding on it. very quickly, suranjana, protectionism| riding on it. very quickly, - suranjana, protectionism and sura njana, protectionism and the suranjana, protectionism and the subject of tarriffs also an issue for china at the moment. particularly when it comes to the electric vehicle sector. that's right, and it's another major economic challenge facing the chinese economy. a potential trade war with not just the us but the eu and canada. all of those countries are either in the process of or about to bring in tarriffs on electric vehicles, and that's really to do with the amount of electric vehicles, the volume of electric vehicles, but china is producing. us, the eu say that china is producing too many electric vehicles to sell within china and then, they will flood foreign markets with those electric vehicles which — and most of them are more affordable than the vehicles that are made by the european union companies or by american and canadian companies. china, for its part, says that the foreign markets are the place when they can make a profit. therefore, they shouldn't be restricted in exporting those vehicles, the manufacturing that's popping up the economy and helping to fuel growth and it's not fair to impose these tariffs which makes their vehicles so much more expensive in foreign markets.— in foreign markets. suran'ana, tomorrow. i in foreign markets. suran'ana, tomorrow, as i in foreign markets. suran'ana, tomorrow, as ever, in foreign markets. suranjana, tomorrow, as ever, thank - in foreign markets. suranjana, j tomorrow, as ever, thank you. around the world and across the uk, this is bbc news. the sportswear brand nike found its sales growth was flat in the last quarter, the final quarter in its accounting year. it's also projected that sales may drop by about 10% in the next quarter as it faces challenges in the online marketplace. live now to hitha herzog, a retail analyst and author. hitha, you've obviously been following this very closely. what would normally drive the growth in the sportswear sector and what has it changed? is it down to online? tho, and what has it changed? is it down to online?— down to online? a couple of thins down to online? a couple of things would _ down to online? a couple of things would really - down to online? a couple of things would really drive - things would really drive growth. number one is innovation— something we have not seen nike do in a really long time. they are also losing market share in a major way to footwear companies like hoka and on, powered by and owned by roger federer, so seeing a lot of customers that once more nike go overand of customers that once more nike go over and start looking at other options. another thing that really had an impact on sales and future sales is the fact that nike got rid of a lot of the third party distribution and have this idea that they could be a direct consumer model and have their customers just buying shoes directly on their site. that really had a major impact on sales and now but they are trying to do is kind of reverse engineer that. a quick look at the products. what normally would be a top product in sportswear apparel? running shoes, for one. this is their bread and butter, this is what nike started with, and i am a runnerand i've what nike started with, and i am a runner and i've seen what's happening and we are having a huge spike in interest in running, yet the market share and the marketplace is becoming so saturated with competition for nike so they are losing market share there but you're also seeing nike not really gain a lot of traction when it comes to marketing — for example, the olympics are coming up. yes, they spent a lot of marketing budget to target the olympics but people are saying, including myself, it's not really going to be enough and will not take a major hold for the company. also when it comes to apparel and sales, notjust in europe and sales, notjust in europe and the united states but also in china, it's starting to wane and when you have sales decline in that sort of level, that's what really is starting to speu what really is starting to spell trouble for nike. back in 2022, i spell trouble for nike. back in 2022, | believe, _ spell trouble for nike. back in 2022, i believe, they - spell trouble for nike. back in | 2022, i believe, they launched a little project of theirs, nike, making products that require new processes and new tech and fewer steps and something that used less energy, called forward. they seem to be tapping into these issues and hoping to bring on board very savvy consumers. are they winning? is the messaging landing? it’s they winning? is the messaging landin: ? �* , , landing? it's interesting when ou see landing? it's interesting when you see a _ landing? it's interesting when you see a company _ landing? it's interesting when you see a company put - landing? it's interesting when you see a company put out i you see a company put out information like that to try to appease customers when it comes to esg and environmental awareness. this is what we in the industry called brainwashing. nike in that sense —— what they didn't realise or communicating is it costs a lot of money to do and implement these processes that are ultimately going to be better for the environment —— greenwashing. what the company is saying is yes, we are pouring money into this type of innovation but we will not see the benefit of it until many quarters into 2025, looking at third quarter 2025 when we will really see all the company, i should say, will see the fruits of their labour that they put in, the money they put into innovation.— innovation. it's been fascinating. - innovation. it's been fascinating. thank . innovation. it's been i fascinating. thank you. the opioid crisis has impacted the lives of millions of americans and now, the us supreme court has thrown out a bankruptcy settlement which shielded the sackler family — whose firm made the drug 0xycontin. purdue pharma was facing thousands of lawsuits over the marketing of the pain medication. under a bankruptcy deal, its owners gained immunity from further suits whilst paying up to $6 billion to support the victims of opioid addiction. all that will now be the subject of more legal battles. michelle fleury interviewed the mother of two victims of opioid addiction. how have you been affected by the opioid crisis? i how have you been affected by the opioid crisis?— the opioid crisis? i have had two children _ the opioid crisis? i have had two children die _ the opioid crisis? i have had two children die of - the opioid crisis? i have had| two children die of overdose. cheryl's son corey was a new father when he died at the age of 23, 13 years ago. his brother sean was in recovery when he died in 2021. she has turned her heartbreak into advocacy. i turned her heartbreak into advocacy-— advocacy. i started an organisation - advocacy. i started an organisation called i advocacy. i started an i organisation called team sharing, and organisation of people who have lost their children from substance abuse disorder. ~ ., , children from substance abuse disorder. ~ . , ., disorder. what is your reaction to the supreme _ disorder. what is your reaction to the supreme court - disorder. what is your reaction to the supreme court ruling? i j to the supreme court ruling? i can't even see the future of how this will play out. it will be a run to the courthouse to see who's going to get the rotham money. this plan, although it is not a perfect plan, was agreed upon by 95% of the creditors so all the states, all agreed, everybody agreed and signed off on this. this was a good plan. the victims will get nothing, it's going to be a complete nightmare.— going to be a complete niahtmare. ., , ., going to be a complete niahtmare. . , ., ., nightmare. there was anger that the sackler _ nightmare. there was anger that the sackler family _ nightmare. there was anger that the sackler family may _ nightmare. there was anger that the sackler family may be - nightmare. there was anger that the sackler family may be able l the sackler family may be able to get out of being held accountable, simply by contributing to the purdue pharma bankruptcy settlement. putting the sackler family in jail is not going to save lives. it may make people feel happy that they got their due diligence. there's not a single person in this world, i don't think, that likes a cycle of but —— likes a sacklerfamily member so it's important to me that the $6 billion get out there, get out into the communities, they are all doing such good work now with the $50 million that they've got so far, and we can put a stop to this epidemic once and for all. as a member of the creditors committee, i asked as a member of the creditors committee, iasked her as a member of the creditors committee, i asked her if there had been backup talks. i’m committee, i asked her if there had been backup talks.- had been backup talks. i'm not sure what _ had been backup talks. i'm not sure what i _ had been backup talks. i'm not sure what i can _ had been backup talks. i'm not sure what i can say _ had been backup talks. i'm not sure what i can say on - had been backup talks. i'm not sure what i can say on that. . sure what i can say on that. but they have been looking at a plan b. michelle fleury was talking to a mother who has two victims of the opioid addiction there. the head of the world trade organization has told the bbc that the rules of global trade need looking at in order to make sure they advance the fight against climate change. it follows new tariffs that the eu and us have slapped on chinese electric vehicles and other green technology in recent weeks. they say beijing government subsidies have created an unfair playing field. but the eu and us have also been spending billions to try and get ahead on what president biden called the "technology of the future". my colleague aaron heslehurst asked ngozi 0konjo—iweala about the multiple challenges facing global trade at the moment. i think first, a little bit of the not so good news — we are seeing, yes, increasing protectionism and some undermining of wto rules and some of this is leading to fragmentation, so we are concerned about that. and now, we are seeing that trade between like—minded blocs is growing faster than trade across such blocs which is some indication of what is happening with fragmentation. and, of course, it will be costly for the world. so this is not something we would like to see. 0n the other hand, aaron, i want to say in spite of all of these problems, they also showed remarkable resilience. we have seen a rebound in 2024 of 2.6% and we are projecting 3.3% next year. and you can see more of that interview and find out about more about the struggles global trade is facing on talking business with aaron heslehurst this weekend right here on bbc news. the first airing is at 2230gmt on friday. music festival season in the uk is well under way and the entertainment kicks off at worthy farm for 2024's glastonbury today but not all festivals are having a golden summer. 50 uk festivals have announced a postponement, cancellation or complete closure in 2024, according to figures from the association of independent festivals released this week. since the pandemic, the uk's festivals have been under growing financial strain with increased costs. live now to steve heap, founder of the association of festival 0rganisers and chair of the events industry forum. welcome to the programme. good morning. welcome to the programme. good morninu. , q welcome to the programme. good morninu. , y ., morning. first off, we have said i morning. first off, we have said i think— morning. first off, we have said i think it _ morning. first off, we have said i think it was _ morning. first off, we have said i think it was about. morning. first off, we have said i think it was about 50| said i think it was about 50 festivals have closed. what are the rising costs and why are they different?— the rising costs and why are they different? the costs since covid have — they different? the costs since covid have gone _ they different? the costs since covid have gone up _ covid have gone up considerably, somewhere between 25 and 35%, in infrastructure and production. the aif figure of 50 is climbing, unfortunately. 50 cancellations this year. but we have to remember there's probably somewhere in the region of another 800 festivals of music that are going ahead, so it's not all bad news. what we will say, the festival and live music industry, is that a new government would give proper consideration to proper support, like for instance 5% vat on ticket sales would make a vast amount of difference to festival budget and increase the number of people attending and, therefore, there spent would generate more vat. we think that's a good book balancer. i think that's a good book balancer-_ think that's a good book balancer. ., , ., u, balancer. i wonder if you could 'ust balancer. i wonder if you could just follow— balancer. i wonder if you could just follow -- _ balancer. i wonder if you could just follow -- for— balancer. i wonder if you could just follow -- for our- balancer. i wonder if you could just follow -- for our viewers l just follow —— for our viewers explain the difference 5% compared to what it is now and what is that? it’s compared to what it is now and what is that?— what is that? it's currently 20% what is that? it's currently 2096 nova _ what is that? it's currently 2094. now. if _ what is that? it's currently 2096 now. if we _ what is that? it's currently 2096 now. if we got - what is that? it's currently 2096 now. if we got it - what is that? it's currently| 2096 now. if we got it down what is that? it's currently - 2096 now. if we got it down to 20% now. if we got it down to 5%, as the government did during covid, it put an enormous amount of extra boost in the finances of festivals and made a vast amount of difference. when it went back to 20% after covid, with prices of infrastructure and production going up by around 25- 35%, production going up by around 25— 35%, we were hit incredibly hard and it's been a death kneu hard and it's been a death knell for several festivals. the industry is relatively buoyant but we do need that kind of support. glastonbury, of course. — kind of support. glastonbury, of course. is _ kind of support. glastonbury, of course, is known _ kind of support. glastonbury, of course, is known around i kind of support. glastonbury, l of course, is known around the world and that is a well—known, well—established festival. i wonder if you could just describe the 50 festivals that have had to counsel —— cancel or not put on an event this year, what was there error? were they independents or small? what has the uk lost, not entirely small.— small? what has the uk lost, not entirely small. some were uuite not entirely small. some were quite large. — not entirely small. some were quite large, but _ not entirely small. some were quite large, but festivals - not entirely small. some were quite large, but festivals in i quite large, but festivals in the region of 5— 10,000 capacity are taking a bit of a hit. and it is mostly infrastructure and production costs that have caused this kind of increase. we are not knocking the suppliers. there costs have also gone up. they had to increase their rentals. we understand that. unfortunately with the economic climate, boosting our ticket sale price isjust a little bit dodgy. it swings and roundabouts, it cuts down on potential sale if we increase it by too much.— potential sale if we increase it by too much. how does the uk festival scene _ it by too much. how does the uk festival scene compare _ it by too much. how does the uk festival scene compare with - festival scene compare with elsewhere around the world? we are still elsewhere around the world? - are still the world leaders. there is no question. a lot of the rest of the world turn to us for ideas, for staff or our ability to stage major events. we do a lot of groundbreaking in the uk. europe in particular turn to us for great ideas and support. what we need, as i said little of government support. what they did in the fishing industry.— fishing industry. there is a fi . ure fishing industry. there is a figure to — fishing industry. there is a figure to consider! - fishing industry. there is a figure to consider! steve l fishing industry. there is a - figure to consider! steve heap, thank you indeed. stay with us here on bbc news. i'll be back shortly. hello. it was a slightly cooler day across the board on thursday but still warm enough with 25 degrees across the southeast. friday will be a little bit cooler still but quite a lot of sunshine around generally. most of the showers and strongest of the winds will be across the northern half of the uk, courtesy of this area of low pressure which will continue to pull northwards and take the strong winds and showers with it as we go through the day. but it's a blustery start to many areas, certainly across the northern half of the country for friday. the showers, the strongest of the winds, pushing northwards across scotland. some of these heavy and thundery across north—eastern parts of scotland. but england and wales — certainly for wales — the midlands southwards should stay mostly dry with a top temperature of 22—23 degrees, mid—teens further north. now, as we head through friday night, the showers begin to fade away, the winds turn lighter and skies will clear, so it will turn quite chilly under those clear skies by the end of the night with temperatures out of town dipping into single digits for some of us but in town, around 9—12 degrees. so, it's a cool start to the weekend but, however, the weekend isn't looking too bad. there will be quite a bit of dry and sunny weather around. just a bit of rain at times through central areas of the uk, particularly on saturday, and that's courtesy of these weather fronts which will wriggle in from the west at times. now, as we look to the north of the uk, that area of low pressure will be pulling away, taking the strong winds and the showers away from the northern isles as we go through saturday. a lot of sunshine for scotland, northern ireland. patchy cloud and rain for northern england, the midlands and wales. but southern and south east england will be warm and increasingly humid through the day. plenty of sunshine. top temperatures 25 degrees here. again, mid—teens further north. now, as we move into part two of the weekend, this ridge of high pressure will topple in. that will kill off any showers. lighter winds as well with fewer isobars. so, it should be a fine day on sunday. a cool start but plenty of sunshine around. a bit of cloud building into the afternoon. thickest of the cloud north—west scotland, where it will be breeziest, but lighter winds elsewhere. top temperatures on the cooler side — we're looking at 16—21 degrees. then, as we head into next week, i think low pressure will be close by, certainly to the north and the west of the country. this is where we're likely to see most of the showers. better chance of staying dry and warmer towards the south and the east. take care. good morning. welcome to breakfast with charlie stayt and naga munchetty. 0ur headlines today... president biden and donald trump have gone head—to—head in a heated debate ahead of the us elections later this year. i wish he was a great president. i would rather have that. i wouldn't be here. i don't mind being here. the only reason i'm here is he's so bad as president. the only person on the stage who is a convicted felon is the man i'm looking at right now. the fact of the matter is, what he is telling you is simply not true. tata threatens to close part of its factory in south wales earlier than planned, because of industrial action. learning...to wait. a huge backlog of test appointments is taking its toll on drivers — made worse by the rise of scams. i'll have the details. a seaside donkey owner has started weighing children before they ride, because he says some are too heavy for the animals. in sport... will he, won't he? the clock is ticking for andy murray. the main draw for wimbledon will be made this morning but will murray be fit enough to play in the tournament one final time? and plenty of showers around this morning — and plenty of showers around this morning a— and plenty of showers around this morning. a little bit more sunshine this afternoon and more sunshine than downpours this weekend for many of you _ than downpours this weekend for many of you all_ than downpours this weekend for many of you all of— than downpours this weekend for many of you. all of the details here on breakfast —

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