ceo has pleaded guilty to charges of violating anti—money—laundering rules and agreed to pay a 50 billion dollarfine. —— $50 million fine. merrick garland called it one of the biggest penalties ever obtained. the data comes and it doesn't include bitcoin. first coin also took a hit in value. a year—long investigation into binance but the company continues operating. binance will also have a government appointed monitor and the company is required to ensure it is in compliance with us laws and the exchange is still the world's largest, holding more than $65 billion of assets. the gas and oil industry needs to cut emissions by 60 percent by 2030 to keep global warming to an increase ofjust 1.5 centigrades. that's the conclusion of a report from the global energy watchdog, the international energy agency. the report was released before the united nations climate summit, or cop28, which begins in dubai next week. joining me now is tim gould — chief energy economist from the iea. tim, good to have you with us. i'm looking at the report, you call it a moment of truth for oil and gas producers. what do you mean by that? it is clearly going to be a big topic as the world meets in dubai. 28. the moment of truth is for the oil and gas companies to decide are they going to be partners in the fight against climate change or not? and some of the data we have suggests that for the moment many of them are watching from the sidelines because right now every year, this year, $1.8 trillion going into a range of clean energy technologies. the contribution of the oil and gas industry to that is around 1%. so the starting point is not encouraging. we think there's an awful lot more that needs to be done was white yeah, looking at those numbers it makes pretty frightening reading, that omissions by the industry need to fall by 60% and thatis industry need to fall by 60% and that is not a long time away. what hope does anyone have of reaching that target? one question is the emissions from the industry's own operations. such is the process of getting oil and gas out of the ground and to consumers, that is a lot of emissions, around 15% of all global greenhouse gas emissions related to energy. and that is an amount comparable to the emissions in the whole of the united states. so we think there is a lot can be done there and that is where that 60% number comes from, reducing methane leaks to the atmosphere is really important part of that. and we don't think a lot of that is difficult. we think that is very achievable set of goals there. there is a broader set of issues around the oil and gas that we use and could we use something else instead? and that is another area where we think the oil and gas industry could be playing more of a part by investing in some of the technologies that can help us bring emissions down in future, things like offshore wind, low emissions fuel is. in some cases also carbon capture. fuel is. in some cases also carbon ca ture. . , fuel is. in some cases also carbon cature. ., , ., ., capture. him, really good to have ou with capture. him, really good to have you with us- _ capture. him, really good to have you with us. we _ capture. him, really good to have you with us. we will— capture. him, really good to have you with us. we will talk- capture. him, really good to have you with us. we will talk much . capture. him, really good to have i you with us. we will talk much more about it obviously as cop28 gets under way in dubai. to turkey now, where the central bank has raise interest rates by 500 basis points, to 40% from the previous 35%. this to battle inflation — turkish annual consumer price inflation climbed to 61.53% in september. untiljune the bank had pursued a controversial government—led policy of low rates and loose policy despite soaring inflation. joining me now is liam peach, senior emerging markets economist, capital economics. liam, why the change of heart? we said that it was a government led policy to deliberately keep rates low. it is now the inflection point where they go back up because they realise it is unsustainable? i where they go back up because they realise it is unsustainable?- realise it is unsustainable? i think that is what _ realise it is unsustainable? i think that is what has _ realise it is unsustainable? i think that is what has driven _ realise it is unsustainable? i think that is what has driven this - realise it is unsustainable? i think that is what has driven this policy| that is what has driven this policy shift. it started after the election in may and i think what was happening before the election was of these policies were in place were becoming unsustainable. they were causing a lot of imbalances in turkey's economy, inflation was very high. since then the central bankers regain credibility, gained a little bit more independence from the president, it has been given initiative to act and raise interest rates. we have seen a couple of aggressive moves. it goes a long way to tackling this inflation problem. we are already seeing some in the limb are encouraging signs in the data that inflation is starting to soften. so i think all of this is helping to alleviate these imbalances. i think next year for turkey we really should see some of these inflation numbers falling a bit more sharply.— these inflation numbers falling a bit more sharply. what is the real term impact _ bit more sharply. what is the real term impact of— bit more sharply. what is the real term impact of an _ bit more sharply. what is the real term impact of an inflation - bit more sharply. what is the real term impact of an inflation rate i bit more sharply. what is the reali term impact of an inflation rate at 61.5%? it is hard to get your head around but what does that do to everyday spending and business decisions about how they operate and what they spend? high decisions about how they operate and what they spend?— what they spend? high inflation is distortion of— what they spend? high inflation is distortion of any _ what they spend? high inflation is distortion of any economy. - what they spend? high inflation is distortion of any economy. it - what they spend? high inflation is distortion of any economy. it hasl distortion of any economy. it has had a big impact on households, it has an impact on their purchasing power. the problem that turkey is in and has been for a couple of years now is that inflation has got to such high levels because it has become embedded in the system. part of that is because you see very large increases in public sector salaries, pensions, minimum wage. all of this has started to entrench inflation in turkey. private consumption, household spending has actually been quite strong and in some ways it is the problem. it needs to raise interest rates are high enough level to start suppressing domestic demand and slowly pushing these inflation pressures out of the economy. it will take time, many years. it is a marathon but i think they're doing the right thing right now. that marathon but i think they're doing the right thing right now.- the right thing right now. that is what i wanted _ the right thing right now. that is what i wanted to _ the right thing right now. that is what i wanted to ask _ the right thing right now. that is what i wanted to ask right - the right thing right now. that is what i wanted to ask right now. | the right thing right now. that is i what i wanted to ask right now. the idea that you can raise interest rates to a0%, it takes time to filter through. rates to a0%, it takes time to filterthrough. it rates to a0%, it takes time to filter through. it is a big shock but we know that central bank policy takes the time to affect the real world. is this as high as they go over lego higher? i world. is this as high as they go over lego higher?— world. is this as high as they go over lego higher? i think they're ve hiuh over lego higher? i think they're very high to _ over lego higher? i think they're very high to the _ over lego higher? i think they're very high to the end _ over lego higher? i think they're very high to the end now. - over lego higher? i think they're very high to the end now. they l over lego higher? i think they're . very high to the end now. they gave some pretty clear guidance in today's meeting. they said that they are at the point at which monetary policy becomes restricted enough. so i think in december we will probably see them slow down the pace and maybe raise it to 42.5%. i think somewhere between 40% and 45% is probably the peak interest rate in turkey. that would put them in a good position then to start getting on top of inflation. it is going to take time. really what has happened in emerging markets over recent decades is that it takes five years to get inflation down to single digits when you are at such high levels but what the central bank needs to do is keep interest rates at around a0%, 45%, at least through next year and then we could be talking about a more positive inflation picture later this decade. yeah, it really does reflect what we're seeing elsewhere in other central banks. certainly turkey an interesting case. liam piech that, senior markets economist. to india now — where the high cost of cancer drugs risks putting treatment out of reach for many poorer people with the disease. now a group of hospitals is taking on the drug companies by pooling their resources to buy the drugs in bulk. they aim to cut the cost of treatments by more than 80% and make sure even remote places can get access to advanced medicines. could it be a model for other developing countries? archana shukla has been investigating a quiet revolution in india is bringing cancer care closer to home for many. like this man and his wife. after an arduous search for breast cancer treatment in distant metro cities, the three—drug combo his wife needs is now available at a local hospital in their hometown in the far east corner of india — at one third the price. translation: earlier, it cost $650 for one treatment cycle. i had to sell the land and borrow from relatives to pay. at least now we can afford the full treatment. it's the power of a collective effort. a network of cancer hospitals, including this one in rural assam, has teamed up to buy medicines in bulk, securing up to 85% discounts for some critical drugs. bringing anti—cancer drugs to the poorest has been the toughest challenge in most parts of india. more so for hospitals like this that try to bring cancer care to people from low income backgrounds and in remote rural areas. but here too, the availability of advanced treatments is seen improving now. so we must start asking why? why is this not happening? a pioneer in providing cancer care for the poor, dr ravi kannan struggled in the early days. no drugs company would commit to regular supplies to smaller centres, but it's different now. the smaller hospitals don't have to get into the negotiation table at all. the price is already decided and the cost at which the smaller hospitals will buy the drugs is much, much, much lower than what it would be if they had negotiated directly. from rural clinics to mumbai's top cancer centre, the network saved $170 million on the first a0 drug purchases. negotiating for costly patented treatments, however, remains tough. i think what pharmaceutical companies need to understand is in a market like india, unless you bring costs down, you're not going to get the volumes. and it's a chicken or the egg phenomenon. these wards have become homes for many from far—away towns. and the success of this programme promises to stem this large—scale migration. that's a model other low and middle—income countries can potentially replicate too. archana shukla, bbc news, assam. in other news.... here in the uk — nissan is to commit to making future electric versions of its two best selling cars in sunderland. the japanese car maker will announce on friday that its new electric qashqai and juke models will be made at the site, helping to preserve 6,000 jobs. the investment is thought to be in the region of £1bn and will be supported by a government contribution. don't forget you can get in touch with me and some of the team on twitter, i'm @benthompsontv after the euro 2024 qualifying campaign came to an end earlier this week — the 12 teams still hoping to fill the final three places have now found out their journey to try and qualify for the championship next summer. wales missed out on the last automatic spot on tuesday — they've been drawn to face finland in the play—off semi finals in march. the winner of that tie will face poland or estonia for a place at the euros. elsewhere, the other semi finals see georgia taking on luxembourg and greece facing kazakhstan, while bosnia and herzegovina will play ukraine and israel will face iceland. the uk's only openly gay, active male professional footballer, jake daniels, has said jordan henderson's move to saudi arabia has felt like a �*slap in the face'. henderson, who's been a big supporter of the lgbtq plus community, has been heavily criticised forjoining a club in saudi — where same sex sexual activity is illegal. it was frustrating, like, henderson messaged me when i came out. i have the message on my phone, he was backing me the whole way, he said, we are proud of you have done. and then seeing him move to saudi arabia, it is kind of like, a slap in my face, really. it was frustrating but i guess the money pays well and money must mean more to people. in september, henderson did say that he'd been "really hurt"