in a statement, bhp ceo mike henry said their proposal was the most effective structure to deliver value for anglo american shareholders. anglo had rejected bhp's previous offers, saying they undervalued the company and its prospects. speaking of deals, it's been a big week for consolidation in the energy sector. the latest development? conocophillips�*s acquisition of marathon 0il in a $22.5 billion deal. erin delmore has all the details and more on this rising trend. think about the early days of the pandemic. think about the early days of the pandemic — people were stuck at home, not going out and not driving their cars. oil prices crashed, but since then, prices have come back up. take conocophillips. the share price has nearly tripled and now it's acquiring marathon 0il worth $25 billion, including debt. that'll help conoco expand its drilling operations in mexico, north dakota and texas and offshore of equatorial guinea. large and midsize oil companies have been competing to buy up the smaller rivals. according to reuters, the deal—making totalled some $250 billion last year. 60 billion of that is thanks to this takeover of pioneer natural resources. which was approved earlier this week. another 353 billion is due to chevron�*s deal hess, if this deal is approved by regulators, it will be expected to close in the fourth quarter of this year. software giant salesforce shares plunged in extended trading, down 16%. this after the company reported weaker—than—expected quarterly revenue. its outlook for the current quarter also fell short of what analysts were expecting. the weaker guidance signals less optimism in the company's artificial intelligence strategy. to the shipping industry — there's been growing concerns about re—routing to avoid the suez canal, that's creating more problems and higher costs. since last october, shipping vessels were forced to avoid the waters off yemen, after facing attacks from iran—backed houthi militias. but that's not all — ports and terminals are finding it hard to cope with the schedule changes after another key shipping shortcut, the panama canal, restricted the number of ships that can pass through each day because of low water levels. that's been in place since last november. i spoke to industry expert peter tirschwell from s&p global market intelligence about the challanges facing the shipping industry right now. things were actually calming down earlier, things were actually calming down earlier in the year, but the new twist is that the demand is really picking up, and so we're seeing early restocking, we're seeing fresh momentum in the global economy. 0ur economists s&p intelligence have raised their forecast for global growth, global gdp twice this year, so we're seeing a surge of demand, which is forcing up freight rebates and causing port congestion and renewing the general sense of concern over the global supply chain. you mentioned supply chain picking up and, of course, we're about to enter the pre—christmas peak season. normally, this happens later in the year, usually in july, august, september. we're coming right up on it. it appears as if potentially due to risks and mitigation strategies, you see companies move forward a number of there's shipments, which is creating a sort of temporary surge that we're seeing right now. another issue that you mentioned, mariko, the ships that are diverting around africa, which they have since september, that has absorbed a lot of capacity since a lot of longer transit times and absorbing a lot of capacity of containers themselves. containers are becoming scarce, and that's creating delays in companies�* supply chains. so, what are the issues here? i understand more carrier containers have been built. there are lots of ships entering service. services are taking approximately a0 new ships every month. so these are record amounts of deliveries. as it goes on, the strong likelihood is that there be additional capacity that will become available in the market that will force down freight rates and hopefully ease a port congestion. right now, we are in a mini period that could last for a couple months. with high demands, ocean carriers can impose surcharges so this could feed into inflation if it hasn't already. we're absolutely seeing the impact of the tighter capacity on the market because freight rates have gone up. just in the last six weeks or so, they've gone up about 50%. prices across the industry are going up. the cost of hiring a ship if you're a shipping company, that has gone up. you're seeing very few idle ships because all of them are deployed. so, what you're seeing is, at least as it stands right now, the available capacity of the system is incapable of handling this demand surge that we're in right now. turning to india — ratings agency s&p global has revised its outlook on india to positive from stable. this comes just days ahead of the country's election results. arunoday mukharji explains what it all means. the s&p in its own words and said they were doing it because of india's robust economic expansion, which had a positive impact on the country's credit metrics. the report also said they expect this growth momentum to carry on for at least the next two to three years. s&p added that irrespective of the election results, to come out on the 4th ofjune, expected continuity in india's economic reforms and fiscal policies. the government's increased chair and spending on in the velma infrastructure has helped, which they added would ease bottleneck to support the country on a higher growth trajectory. s&p said they could raise the ratings if it narrows. but s&p also fashioned that they could downgrade india's outlook from positive to stable once again if they see an erosion in political will in maintaining fiscal sustainability and also if the current account deficit widens even further, which could weaken india's position. here in southeast asia, let's take a closer look at the surge in foreign direct investment in vietnam. that's mainly from businesses de—risking their supply chain dependence on china, and outsourcing away from the world's second largest economy. but according to alex holmes of the economist intelligence unit — china is back, this time as the top foreign direct investor in vietnam, and ready to do business. here's what he said about the impact of that increased chinese investment on vietnam's economy. yes, a lot tends to get pinned on global trade tensions and de—risking from china, and that certainly is a driverfor companies to invest in vietnam. its close to south china's supply chains and it's vital alternative. but vietnam itself is an attractive fti destination for chinese investment. they may look to do their own production to get around geopolitical tensions, or theyjust may be attracted to vietnam as an attractive place to build things as wages continue to rise in central china. when you say china is now at the top of the foreign direct investor in vietnam, what kind of changes have we've seen compared to five years ago? so, five years ago, china wasn't really a large source of fti to vietnam at all. it's reallyjumped up the rankings, especially in the last couple of years. you've seen there's lots of chinese manufacturing looking to expand abroad into a different market. it's perhapsjust a natural progression that these chinese companies are now very competitive on a global scale and looking to move into markets beyond their own borders. is about securing the labour force that are slightly more affordable than back home? yes, but it's also the fact that there's many factors other than labour costs, especially as we've had less of an issue in labour costs. some of it is driven by de—risking, some of it is being able to sell into those markets. it has a younger population and an increasingly well—heeled middle—class. before we go, the australian governments cyber security office is working with us ticket distributor ticketmaster, after the platform was said to be hacked. the hacking group shiny—hunters claimed it accessed the details of 560 million customers. those details allegedly include home addresses, phone numbers and payment card details. and that's it for this edition of business today. thanks for watching. hello and welcome to sportsday. i'm marc edwards. here's what's coming up. it's a roland garros classic as iga swiatek fights back in epic clash with naomi 0saka at the french open. world numberi scottie scheffler has all charges dropped by prosecutors after his arrest outside the pga championship. the more evidence that comes out, the more it shows that scottie was a victim here. the history makers — 0lympiakos become the first the history makers 0lympiakos become the first greek side to win a european club trophy as they beat fiorentina in the final of the europa conference league. hello and thanks for joining us on sportsday. we're going to start at the french open in paris, where there was a thrilling and dramatic contest between defending champion and world number one, iga swiatek, and quadruple grand slam winner naomi 0saka. in a tense first set, the in—form swiatek, with four titles to her name already this season, took it on a tie—break. 0saka dominated the second overpowering her opponent to take it 6—1. the third set was an absolute nail—biter. swiatek 4—1 down and seemingly out, somehow surviving break points, and even a match point to take the set 7—5. the dream of achieving three in a row at the french open is alive and well. but for 0saka, who only returned to the sport four months ago after having daughter shai, a valiant end to her tournament. honestly, it's not the worst. like, i've felt worse for sure.