Built at the gravity Business Park in somerset by Jaguar Land Rover owner tata. A major shot in the arm for the uks Electric Car Making Ambitions the new plant is expected to create 4,000 jobs and thousands more in the wider supply chain. Tata are putting up £4 billion for the site with the government expected to provide hundreds of millions of pounds in subsidies. Lets discuss this with former Racing Driver and motoring journalist amanda stretton. We are increasingly in a difficult position, we experienced what it difficult position, we experienced what it was difficult position, we experienced what it was like having supply chain issues after covid with Chip Shortages that was experienced worldwide. This is one really important step in securing the supply chain for electric Vehicle Production in the uk. Creating hundreds and Hundreds Ofjobs which is wonderful. Putting the uk back on the reading for when it comes to moving into an electrified low carbon future. You say a wedding but we are so far behind, arent we . If you look at china some of the other markets the us of course, we are just beginning compared markets the us of course, we arejust beginning compared to industries that have been going for decades . China has had a stranglehold on battery production. China has had a stranglehold on battery production. They control most of the elements that actually go into batteries as well. We are increasingly seeing is the us catching up dramatically. This was very much helped by the slightly controversial ira bill that biden signed a couple of years ago, so that has really given a real shot in the arm to american production, and that is now ramping up, and europe as well. It is a little bit late. We are certainly late to the party but i dont think we should let that put us off. And hopefully this is just going to be the start of maybe some more investment. The uk is in a difficult position stop we dont have the strongest, the biggest Car Production throughout the rest of europe. 0bviously throughout the rest of europe. Obviously there are all sorts of political reasons for that as well but it is a really important and vibrant industry, and i think this isjust a fabulous step. I am so happy that this has finally crossed the line. ~ ,. , the line. Talk us through the a etite the line. Talk us through the appetite for the line. Talk us through the appetite for electric the line. Talk us through the | appetite for electric vehicles. There is demand there but it is still a lot of concern for what it means if you get an electric vehicle, will you be able to charge, all the various Stress Points and the infrastructure in place provided by the government. It in place provided by the government. In place provided by the government. In place provided by the covernment. ,. , government. It is definitely a difficult battle government. It is definitely a difficult battle getting government. It is definitely a j difficult battle getting people across the line when it comes to atvs. There is still a lot of reticence. A lot of confusion, a lot of worry. I think the appetite is there. I was very just think the appetite is there. I was veryjust disappointed when the government decided to relax the ban on internal combustion engines evs. I thought it was very ambitious and forwardthinking. Infrastructure is taking time to catch up. I have been driving a ev, i have no problem with it. It takes different thought and planning when you are arranging yourjourneys. Thank you good to talk to you this morning. Amanda with her take on that big event taking place later today in sommerset. Lets stay with electric vehicles. The Tech Giant Apple is abandoning its decade long effort to build its own electric car. According to reports, The Tech Giant wants to instead ramp up efforts on its Generative Ai projects. From new york, heres our north America Business correspondent Michelle Fleury. Apple started out with lofty ambitions. Foryears, it was rumoured that it wanted to build its own electric car. Without a Steering Wheel or any pedals. A True Driverless experience. But after spending billions of dollars on the decade long project, it now appears the iphone maker is abandoning it altogether. We reached out for comment but we havent heard back from them yet. The team working on the project were told the iphone giant were shifting its focus ai. 0ne giant were shifting its focus ai. One of the people who worked on the car will be moved to apples Artificial Intelligence division. That is according to bloomberg. While those who cant find jobs elsewhere in the company face layoffs. Apple shares rose nearly 1 on the news is one tech analyst put it, by abandoning its stream to transform the Auto Industry it will increase pressure on apple to do something profound in the area of Generative Ai. That is Michelle Fleury of course. To brazil now, where Central Bank President s and ministers are gathering from the 620 group of nations. Theres a lot to discuss at the two day meeting with brazils president , Luiz Inacio Lula da silva, putting inequality and poverty, as well as Climate Change at the top of the agenda. But so far making the headlines is the war in ukraine, with the us Treasury Secretary calling for a united front to back setting up a fund for ukraine, using billions of dollars� worth of frozen russian assets. I believe there is a Strong International economic and moral case for moving forward. This would be a decisive response to russias unprecedented threat to global stability. And it would make clear that russia cannot win by prolonging the war and would incentivise it to come to the table to negotiate a just peace with ukraine. Table to negotiate a ust peace with ukraine. For more on this, joining me now is ali wyne, Senior Research and advocacy advisor, us and china, at the think tank the International Crisis group. Good to have you on the programme. What do you think of that idea . ~ programme. What do you think of that idea . , ~ ,. , programme. What do you think of that idea . ~ ,. ,. That idea . Thank you very much for having that idea . Thank you very much for having me. That idea . Thank you very much for having me. The that idea . Thank you very much for having me. The immediate l for having me. The Immediate Reaction is that the g20 we are talking about right now, what we have seen increasingly in recent years is that rather than serving as a co ordinating mechanism, it starts to amplify political divisions between china and the United States or russia and the west more broadly. The proposal has been gaining traction steadily both in the United States of course and also among certain countries in europe, but there are still pushback in europe and i think once we talk about the broader g20, pushback will grow more pronounced. The broader 620, pushback will grow more pronounced. The broader 620, pushback will grow more pronounced. There is bound to be grow more pronounced. There is bound to be pushback because l grow more pronounced. There is| bound to be pushback because as you say across the board there isnt the unity on so many of these issues. What will they achieve over the next few days . I think all eyes are going to be on brazil which has the rotating presidency of the g20 this year, and like india, which held the rotating presidency of the g20 last year, i think brazil will use its presidency to spotlight issues concerning to brazil and other countries, whether it is inequality, pandemic preparedness, Climate Change, food insecurity, a range of other issues. And i think our expectations should be modest in light of these political frictions, but we will see greater attention being paid to concerns that have a greater share of the global population. 0n climate, what do you think will be achieved . As you say, brazil is hosting this, which is a key country in the battle against Climate Change. I think the expectations, against Climate Change. I think the expectations, again, against Climate Change. I think| the expectations, again, should be modest, but brazil of course has championed the cause of fighting against Climate Change, has been a leading voice not only among developing countries, leading voice globally in the fight against Climate Change. Certainly, i would imagine we would seek considerable momentum behind discussions around greater Climate Finance for developing countries, i think brazil will use not only this particular meeting, but the duration, the remainder of his g20 presidency to call for greater action against Climate Change. Even if there are concrete deliverables that come out on this particular meeting, greater rhetorical urgency around flight fighting Climate Change, and drawing further attention to that issue. Good to net attention to that issue. Good to get your attention to that issue. Good to get your take attention to that issue. Good to get your take on to get your take on that meeting. Thank you forjoining us. Lets now focus on news coming out of china. Its more bad news for the embattled Property Developer Country Garden as they face a liquidation petition. We have mentioned them on this programme several times. This comes after the real estate giant was ordered to liquidate by a Hong Kong Court last month. Suranjana tewari is in our Asia Business hub for us with the details. Another blow for chinas property sector. Everyone willing the sector to try and revive so that the economy can improve as well, but it is still struggling for cash, clearly. Here is what we do nobles of a Company Called ever credit which is a creditor filed the petition to wind up to a Hong Kong Court against Country Garden for non payment of a loan worth 205 million. Now, it had earlier given notice to the company back in october when the Company Actually defaulted on a loan, but this is the next legal step. Country garden told the Hong Kong Stock Exchange about it, that is part of the regulations are being listed on the exchange, and said it would resolutely oppose the petition. The Court Hearing has been set for may 17 so we will hopefully find out more. This is really already set off a chain of events. Country garden shares fell more than i2 in early trade on the hang seng index. That will only add to concerns about chinas debt crisis and the property sectors debt crisis. In china, beijing is trying to ramp up efforts to boost confidence in the industry will stop it is a huge industry. All the businesses feeding into it, or the interior designers, the cement mixers, the suppliers, they account for up to a third of chinas gdp, and this comes just a month after ever grand, chinas with indebted developer with 300 billion in liabilities, was ordered to be liquidated by a Hong Kong Court. It now faces a complicated restructuring process which could last up to a decade, and i am afraid it looks like Country Garden would be going in the same direction evergrande. They obviously will try everything they can to avoid the same fate. Will try everything they can to avoid the same fate. Thank you so much Around The World and across the uk, this is bbc news. Bringing you different stories from across the uk. Hair salons had to close from across the uk. Hair salons had to close during from across the uk. Hair salons had to close during the had to close during the covid19 had to close during the covid 19 pandemic. Those with insurance policies including this one in nottinghamshire for the Insurance Companies would pay out to cover their losses. But they kept refusing. 0ur bills just but they kept refusing. 0ur billsjust didnt stop but they kept refusing. 0ur bills just didnt stop because covid came in because the government close us down. If anything, we still had all of our bills, we had to pay our insurance premiums every month. Under the salons have won their legal case and insurers will have to pay. Legal case and insurers will have to pay legal case and insurers will have to pay. Delighted. You know what. Have to pay. Delighted. You know what, i have to pay. Delighted. You know what, i will have to pay. Delighted. You know what, i will say have to pay. Delighted. You know what, i will say i have to pay. Delighted. You know what, i will say i am l know what, i will say i am relieved. Know what, i will say i am relieved know what, i will say i am relieved. While it is a legal victo , relieved. While it is a legal victory, there relieved. While it is a legal victory, there is relieved. While it is a legal victory, there is a relieved. While it is a legal| victory, there is a problem. Insurers want to deduct the amount government paid to staff on Furlough Payments from what they agreed to pay to salons. The Largest Insurance Company for the personal care sector called copious that it welcomes the claridges arbitration brings and will abide by the decision in apply to all the relevant policies and claims. For more stories from across the uk, head to the bbc news website. ,. Youre live with bbc news. Im sally bundock. Lets have a look at the us economy now, which has been going at quite a pace weathering economic headwinds, delivering a steady pace of growth with inflation easing. So, sounds good. This has led many investors to bet on that central bank may begin lowering Interest Rates in the summer delivering a soft landing for the economy. But could this all be Wishful Thinking . According to the boss of Banking Giant goldman sachs, it might be, warning of a high level of uncertainty. Joining me now is mark 0stwald, Chief Economist at investors adm isi. Good morning to you, mark. We are talking about David Sullivan here who was speaking at an event yesterday where he said the world is set up for a soft landing but there is a high level of uncertainty. Due to remaining Inflationary Pressure in the economy and geopolitical risks. What do you make of his comments . I wouldnt disagree with him to be quite honest. What we are facing at the end of the week is the possibility of yet another Us Government shutdown, Thatis Another Us Government shutdown, that is one uncertainty. The tensions in the middle east are very clearly there. And there is a lot of uncertainty about things which actually are driving. Underpinning us growth. Above all, the fate of the Inflation Reduction Act or ira, and the chips act, in the context of the us election. There could be substantial changes that has been a key driver. So, yes, iwould definitely agree with him that there is an air of complacency. He was pointing out that the start of this year, markets were pricing in seven Interest Rate cuts this year in the us. It is saying that has now changed, expectations have moved to four maybe this year. Do you have a number in your head as to how many and how far . I head as to how many and how far . ~. ,. , far . I think it would be a good idea if peeple far . I think it would be a good idea if people actually far . I think it would be a good idea if people actually fixated | idea if people actually fixated less on how many Interest Rate cuts they think we are going to have stopped i think the more important point is in terms of Interest Rate cuts, we actually havent had an Interest Rate cut cycle since the 90s, it was actually driven by the economy as opposed to financial instability. That is really quite remarkable. Everything else has been a case of that. So it is very difficult for markets to actually judge so it is very difficult for markets to actuallyjudge why they would cut, because at the moment really the message from the fed is very simple. There is no need to cut. They are right. There is no need to cut. The economy is performing reasonably well, the Labour Market is extraordinarily tight, inflation is coming down. ~. , down. Mark, good to get your take on those down. Mark, good to get your take on those comments. Down. Mark, good to get your i take on those comments. Thank you very much. To tech now, and nvidia, The Tech Giant that has been moving markets of late. Now, you may associate nvidia with chip making and ai, but not necessarily with retail. Azita martin leads nvidias Artificial Intelligence initiatives for the retail industry. 0ur north America Business correspondent erin delmore asked her about how ai is changing the Shopping Experience customers are having in store and online. Ai enables you to really have a complete view of the customer and be able to really offer but promotion and products that are personalised and tailored to their needs. So here is when Generative Ai comes in. One of my favourite applications for Generative Ai that a lot of customers are now, a lot of retailers are implementing is what we call a shopping advisor. In the way i describe it is imagine taking the absolute best Sales Associate that you have in your company and replicating that on your mobile and e commerce site. So mobile and ecommerce site. So if i am mobile and e commerce site. So if i am the customer, do i know that i am being treated to a personalised ai Shopping Experience here, or not . {hat experience here, or not . Chat box in the experience here, or not . Chat box in the past experience here, or not . Chat box in the past have experience here, or not . Chat box in the past have not experience here, or not . C� iat box in the past have not been very smart. What Generative Ai allows you to do is truly train that not only with your products, but the characteristics of your product, right. If i come in and i say that im looking for and i say that im looking for a red top for a summer party that im going to, it looks at my previous Shopping Experience and shopping habits, it knows that i like certain styles and not every single red product. So the products that it recommends to me are tailored towards my preferences and my style and what i bought in the past. Style and what i bought in the ast. , style and what i bought in the ast,. ,. , style and what i bought in the ast. ,. , past. How about from the stores point past. How about from the stores point of past. How about from the stores Point Of View . Past. How about from the stores Point Of View . I i past. How about from the l stores Point Of View . I can see how the personal Shopping Experience can be attractive to customers. How is it helping stores run their businesses in other ways . Other ways . There is a lot of computer other ways . There is a lot of Computer Technology other ways . There is a lot of Computer Technology right. Other ways . There is a lot of i Computer Technology right now being used inside as i was used and that every an idea of perhaps, like the light and spending time while what so if i go and buy certain things, what is the next ways they go to . That allows them to actually optimise merchandising and the layout of the stores. Have we seen a moment like this before . B, have we seen a moment like this before . �. ,. , have we seen a moment like this before . ,. , ,. , before . A lot of publications called the before . A lot of publications called the iphone. Before . A lot of publications called the iphone. The before . A lot of publications. Called the iphone. The iphone change the consumer world. We werent used to having our e mails at our fingertips. Photography was a hobby. Now it is part of our everyday life. I think that this is the iphone moment of ai. Moment of ai. Really interesting. Moment of ai. Really interesting. It moment of ai. Really interesting. It could l moment of ai. Really i interesting. It could be. To an icon of the music world now, gibson guitars. Its one of the worlds most well known instrument makers, favoured by singers and songwriters across all genres. Gibsons can be seen on stages Around The World. They make all sort of guitars from acoustic to classic electrics, and theyre all still made in america. But it has just opened its first Gibson Garage Store outside of the us in london where led zeppelin� s jimmy page cut the ribbon. I caught up with gibsons ceo, Cesar Gueikian saysar gwayquen. What is happening is the gibson garage in london, which is a brand new space where we are really looking forward to a big part of the Music Community, come and explore and really explore anything about gibson, look at all of our instruments, everything is available to be played, there are hundreds of instruments available to be played all the way from things that are more affordable entry level incidents all the way to the premium offerings that we have. That we have. Why did it take ou so that we have. Why did it take you so long . That we have. Why did it take you so long . That that we have. Why did it take you so long . That is that we have. Why did it take you so long . That is a that we have. Why did it take you so long . That is a very i you so long . That is a very aood you so long . That is a very good question. You so long . That is a very good question. I you so long . That is a very good question. I guess you so long . That is a veryj good question. I guess you could in one way that it took us 130 years since they started making instruments. We wanted this to be a real experience so it is a curated act variance. It is not about retail, it is about delivering this amazing experience. So as such, we wanted the experience to be of a quality of gibson. So we openedin a quality of gibson. So we opened in nashville two years ago, we tested the concept, we became part of the Music Community in nashville and we have anchored the garage in the centre of of culture of nashville. So we learned from that and now we have brought it to london. London has been, for decades, at the forefront of music innovation. Think about the beatles. Led zeppelin. Black sabbath. Queen. The list goes on and on and on. All of these amazing bands that have come out of the music scene here that have become transformational in terms of music genres. So we chose london and we really spent time curating the experience. Curating the experience. Some ofthe curating the experience. Some of the most curating the experience. Some of the most famous curating the experience. Some of the most famous musicians | curating the experience. Some l of the most famous musicians in the world play gibson guitars. It is a very strong brand. But how do you make that accessible for all . The Fusing Musicians of tomorrow. For all . The Fusing Musicians of tomorrow. The number one reason why of tomorrow. The number one reason why somebody, of tomorrow. The number one reason why somebody, any i of tomorrow. The number one | reason why somebody, any fan will decide what kind of guitar they are going to pick up is usually because their favourite artist plays it. For us, it is artist plays it. For us, it is a big Response Ability to make sure we are making the best quality instruments we have ever made, that is our challenge. And then work very closely with all of our artists across the generations of artists, from all the icons all the way through to the young generations of players, and what we do is by having a place like this, by having the gibson garage in london, we can now work individually with each music fan and see what is the best option for you. Music fan and see what is the best option for you. Now, you crew u best option for you. Now, you grew up playing best option for you. Now, you grew up playing guitar, best option for you. Now, you grew up playing guitar, as grew up playing guitar, as youve mentioned, this company is over 100 years old, and you are saying you are living the dream now. Ceo of gibson. How did you get to the position you are in . ,. , ~ are in . Yes, i am. Well, this was not are in . Yes, i am. Well, this was not an are in . Yes, i am. Well, this was not an accident. Are in . Yes, i am. Well, this was not an accident. There i are in . Yes, i am. Well, this. Was not an accident. There was an opportunity many, many years ago, about 12, 13 years ago to potentially become owners and take over the company, and i was with the group that made that happen so we have an Amazing Group of shareholders, we were able to take control of the company in 2018 and start working and going back to our core, focusing on making the best guitars we have ever made, really paying attention to our brands, what we make, how we make it, and then work with our wonderful people and really empowering our team Around The World to become what we are becoming now. So i think this is a good start, and, yes, i do get to blend and put things together, my Business Background with my biggest fashion which is Notjust Music and guitars, but gibson. There ou co. And guitars, but gibson. There you go he and guitars, but gibson. There you go he is and guitars, but gibson. There you go. He is so and guitars, but gibson. There you go. He is so on and guitars, but gibson. There you go. He is so on brand, you go. He is so on brand, isnt he . The ceo of ibsen. That shop is just down the road. I will go and check it out, definitely the ceo of gibson. Lets look at financial markets. We are seeing strong gains injapan. Hong kong is fairly flat. Mainland china as well. This is the news that has spooked markets again, bringing Back Concerns about the real estate sector in china. And just how fragile it is. Also in hong kong, interestingly, the Monetary Authority there has said it has issued guidelines to bank stood up measures for property mortgage loans, including adjusting the maximum loan to value ratio for some properties. Action on the part of the authorities in hong kong to try and stabilise the real estate sector as well. Lets look at the next board quickly so you can see how the us ended its session on tuesday. A mixed picture in the states. You are up to date on the latest business news. Thank you for your company. Have a lovely day. I will see you very soon. Hello. Temperatures have been falling quite quickly over the past few hours. Weve got some colder air in place and theres some mist and some fog patches around for some of us to start your wednesday morning. So some fog patches, particularly through parts of southern and Central England and east anglia, and then rain is going to be spreading its way gradually eastwards. That rain pushing in across Northern Ireland by the early hours of wednesday, during wednesday morning pushing into scotland, wales as well. Fog for parts of central, eastern and southern england that should clear away by the middle of the morning. And then these bursts of rain could be quite heavy as they push across wales, into Central England as well. Far southeast and east anglia, staying dry for a good part of the day but a return to a few more showers from the northwest. Temperatures, though, between about 9 13, so certainly milder than they have been. Now, through wednesday evening and overnight then, this next pulse of fairly heavy rain at times pushes its way eastwards. Could be quite squally. Thunderstorms possible on that line of rain as it crosses its way southeastwards across many parts of the uk. Clearer skies following on by thursday morning to Northern Ireland, scotland and the far north of england where we could see some wintry showers over the Higher Ground of scotland. So wednesdays mild air will clear away towards the east, and into thursday, weve got these colder conditions, this Cold Air Mass following on behind. Some heavy rain where those air masses meet thatll linger through parts of central and southeastern england, i think, through thursday morning, only gradually easing away. But towards northern england, scotland, Northern Ireland, some clearer spells, a rash of heavy, blustery showers, though, moving in from the northwest. And i think north of the central belt, they could be a little bit wintry above around about 200 metres or so. So were back into single figures towards the northwest of the uk on thursday. And then into friday, weve got low pressure very much in charge, moving in across that colder air mass. So we could see a little bit of snow on friday, mainly over the high ground north wales, perhaps the pennines, into the Southern Uplands as well. Down at low levels, i think its going to be falling as rain and well see brisk winds rotating around this area of low pressure. So blustery, particularly around the peripheries of the uk, less windy for central parts, but a little bit colder certainly compared to wednesday. So were looking at single figures for many of us. Further ahead, as we end the weekend and into the weekend then, were going to stick with those slightly lower temperatures and its looking fairly unsettled, showery for many of us as we head into the start of meteorological spring. Bye for now. Good morning. Welcome to breakfast with sally nugent and jon kay. 0ur headlines today. Council in crisis dozens warn they could face bankruptcy, threatening key services for members of the public. We join the residents of one area where Council Leaders are struggling to balance the books. Extra security is announced for mps following fears about politcians being intimidated by demonstrators. The rising cost of Gym Membership how Fitness Companies are having to work out how to get us through the doors. In sport, hit for six. Erling haaland scores five as Manchester City knock luton out of the fa cup. Good morning. There is some fog first thing this morning. Weve also got a Band Of Cloud In The Rain across the west, but it is going to be milderfor all of us. I will have all the details later in the programme. Good morning, all. Its wednesday 28th february. Our main story. Councils in england are in a state of financial crisis with many facing effective bankruptcy in the next few years unless the funding system