Lets start with hsbc, because europes biggest bank by assets has Just Announced its europes biggest bank by assets hasJust Announced its results for the third quarter. They show the bank had made a pre tax profit of 5. 1; billion in the period betweenjuly to september. Hsbc also announced a Share Buy Back of up to 2,000,000,000, despite having a big presence in europe, hsbc is to tap into the growth of chinas economy. Last year the bank generated just under 11,000,000,000 in pre tax profits. In its operations in china and hong kong which compensated for its losses elsewhere. The ceo, nohl quinn, says the bank is committed to investing 6,000,000,000 in asia, so what are the latest results tell us about the pivot of hsbc to china and develop an song cost cutting . Lets talk to the managing partner of a Capital Investment firm. What you make of the huge profits . How have they done . I you make of the huge profits . How have they done . You make of the huge profits . How have they done . I think you are seeing how have they done . I think you are seeing the how have they done . I think you are seeing the bigger how have they done . I think you are seeing the bigger impact how have they done . I think you are seeing the bigger impact of i are seeing the bigger impact of the row back from the coronavirus related reserves that hsbc took on in 2020. And with the improved Economic Outlook and with lockdown being lifted Around The World, we are seeing the impact of rolling back those coronavirus alone reserves into profit and that is what is driving these increased numbers you are seeing today. Increased numbers you are seeing today. Last year hsbc said it was seeing today. Last year hsbc said it was going seeing today. Last year hsbc said it was going to seeing today. Last year hsbc said it was going to shed said it was going to shed 35,000 jobs as part of plans to cut 4. 5 million in costs. What is the latest on those figures . The cost basis remains stable so they have been suggesting the Cost Cutting Programme in the Cost Cutting Programme in the last 12 months selling their us Consumer Business and their us Consumer Business and their french retail bank, so they are shedding what they seem to be non core assets so they can focus on the key pivot to asia as they call it. Keep in mind that with Interest Rates going down in the uk this will be benefit to hsbc, one of the worlds . Tell us more about the worlds . Tell us more about the pivot to asia you refer to. They outlined plans earlier this year to invest around 6,000,000,000 in the region, didnt they . Didnt they . They did in the seat . Indeed. Didnt they . They did in the seat . Indeed. Hsbc didnt they . They did in the i seat . Indeed. Hsbc grabbed didnt they . They did in the seat . Indeed. Hsbc grabbed the seat . Indeed. Hsbc grabbed the most profitable driver of its growth coming from the asian private Wealth Management business, so retail as well as ultra high Networks Banking in asia is the core focus for hsbc. There is going to be a tricky needle to thread for hsbc to thread because they are 7 hsbc to thread because they are . There are political headwinds to navigate between us and china trade tensions and they were supposed to have abated under President Biden but have not done so yet, so this will be an important consideration as hsbc looks forward. Theres also political as hsbc looks forward. Theres also Political Tension as hsbc looks forward. Theres also Political Tension between. Also Political Tension between china and the uk and uk mps accused hsbc injanuary, a hong kong founded band of Aiding And Abetting chinas crackdown in hong kong. Has the tension eased at all . It hong kong. Has the tension eased at all . Eased at all . It remains lurkin eased at all . It remains lurking in eased at all . It remains lurking in the eased at all . It remains i lurking in the background. Eased at all . It remains lurking in the background. As you think about the great picture and more and more of hsbc� s revenue and profits coming from hong kong, china and singapore and you think about some of the hong kong Sanctions Laws threatened that they will introduce their encounter Sanctions Laws, and you think about the uk and hong kong and china and the related tensions, it will continue to have to manage expectations of the government review in the west and they would see what the local government regulations require them to do, and thats not going to be easy. Hsbc will continue to be Caught In The Crossfire of that. ,. , ~ Caught In The Crossfire of that. ,. , 4. Caught in the crossfire of that. ,. ,. , that. Looking ahead, what you exect that. Looking ahead, what you exaect to that. Looking ahead, what you expeet to happen that. Looking ahead, what you expect to happen with that. Looking ahead, what you expect to happen with sales i that. Looking ahead, what you i expect to happen with sales and trading revenues in the last few months . Trading revenues in the last few months . , few months . Some trading has been a weak few months . Some trading has been a weak spot few months . Some trading has been a weak spot for few months . Some trading has been a weak spot for hsbc few months . Some trading has been a weak spot for hsbc in i been a weak spot for hsbc in the last few quarters and relative to its peers . Peers who have knocked it out of the park when it comes to those areas, so you should continue to see increased revenue year on, year on an quarter growth in those areas and hsbc continue to make sure that businesses look at the pivot to asia and offer services to the banking clients. Asia and offer services to the banking clients. Thank you for oininu banking clients. Thank you for joining us banking clients. Thank you for joining us and banking clients. Thank you for joining us and taking banking clients. Thank you for joining us and taking us joining us and taking us through those numbers. Thank you. Lets get some of the days of the news. Shares in the Evergrande Group open 4 higher after the struggling Property Developer announced it planned to focus on its Electric Vehicles business over real estate. Evergrande said it would aim to make its new Electric Vehicle vehicle its Primary Business is that our property within ten years. Tescos website and app are up and running again following a Service Outage on sunday. It crashed after what tesco said were events to interfere with the systems. Tesco said there was an issue but on sunday and said there had been deliberate disruption. A pair of trainers worn by Michaeljordan Have sold for a record 1. 5 million at auction. Jordan used to the pair of Red And White nightly air during his first season with the Chicago Bulls in 1984. The prices are highest paid for game one property from any sport. I imagine the owner of those wont be putting them on any time soon. Today the facebook Whistle Blower covid . Frances haugen is to give evidence to the online parliament suitable committee stop the data privacy watchdog requested full evidence to see whether the Technology Company has broken uk law. The Information Commissioner says she wants to analyse the documents from a uk perspective, particularly relating to children. Frances haugen claimed facebooks products could pose a risk to Childrens Mental Health and stoke divisions in society. Joining me now is a barrister at Cornerstone Barristers and thanks for being with us. Tell me a bit more about what we can expect from today because of course facebook has firmly pushed back on these accusations. What do we expect to hear and what possible impact could it have . We to hear and what possible impact could it have . We saw a Review Impact could it have . We saw a preview of impact could it have . We saw a preview of what impact could it have . We saw a preview of what we impact could it have . We saw a preview of what we can impact could it have . We saw a preview of what we can expect | preview of what we can expect when Frances Haugen confessed to congressional committees early in the month and it came under three headings. One is the interference in democracy and wed already heard testimony from another Whistle Blower that there was interference in the honduras election and Frances Haugen has talked about stoking Racial Division in ethiopia and then the next thing is harms to individuals, like promoting anorexia related content or suicide related content or general hate, and third, specific targeting of children and perhaps the thing that has disturbed people most is when francis told the senate that facebook deliberately targeted miners with some of its products. Miners with some of its products miners with some of its roducts. ,. , products. So the data privacy watchdog products. So the data privacy watchdog wants products. So the data privacy watchdog wants to products. So the data privacy watchdog wants to analyse. Watchdog wants to analyse whether facebook have broken uk law and how could they have done it and how does it differ to the us . Done it and how does it differ to the us . ,. , to the us . The data laws in the uk are much to the us . The data laws in the uk are much stricter to the us . The data laws in the uk are much stricter than to the us . The data laws in the uk are much stricter than the l uk are much stricter than the us because we still have the ee you rule largely in substance, the general Data Protection regulator and that regulates how you can regulate and use data on what you have to tell them about it, so the Information Commission will be looking at what data facebook collected and most importantly whether facebook used it in the same way it said it was going to use it . Same way it said it was going to use it . They are looking at imposing to use it . They are looking at imposing a to use it . They are looking at imposing a law to use it . They are looking at imposing a law and to use it . They are looking at. Imposing a law and obligations on social Media Companies to protect users, especially users. What could that look like Going Forward . The headline like Going Forward . The headline from like Going Forward . The headline from that like Going Forward . Tue headline from that bill like Going Forward . Tta headline from that bill is like Going Forward . Tt2 headline from that bill is a duty of care that is imposed on on Tech Companies like facebook to essentially protect people notjust to essentially protect people not just from to essentially protect people notjust from harm from on lawful online content, but harmful but lawful content. Things like disinformation and this will be enforced by ofcom which has the power to Fine Companies up to 10 of global profits which in the case of facebook, i think that could be about £8,000,000,000. What haens about £8,000,000,000. What ha ens if about £8,ooo,ooo,ooo. What happens if one about £8,000,000,000. What happens if one country about £8,000,000,000. What happens if one country imposes a law on a social idiot cocktail and then a different country, how does it impact on the social Media Company if this is what happens for the likes of facebook . Tts likes of facebook . Its perfectly likes of facebook . Its perfectly possible likes of facebook . Tt� s perfectly possible for a social Media Company to handle things differently in one country than it does in another and we wouldnt want to repeat this example, but for example, facebook does things differently in china compared to the rest of the world and does things differently in the us to how it deals with matters in other countries so its a bit of a misnomer when we say that because facebook operates like this in the us it has to operate the same way in the us 7 operate the same way in the us . The united kingdom. Operate the same way in the us . The united kingdom. Thank you for bein . The united kingdom. Thank you for being with . The united kingdom. Thank you for being with us . The united kingdom. Thank you for being with us and . The united kingdom. Thank you for being with us and thank . The united kingdom. Thank you for being with us and thank you. For being with us and thank you for being with us and thank you for your analysis. The Worlds Biggest Oil exporter, saudi arabia says it will cut Carbon Emissions by net zero x 2016. The crown prince at the gulf state would invest more than 180,000,000,000 to reach the goal but he warned the kingdom would continue to produce oil for decades to come. The announcement comes days before the cop26 Climate Change summit at which World Leaders will be pressed on their plans to cut Greenhouse Gas emissions. Joining me now as duvets williams, welcome to you and good to see you. What you make of this announcement . What good to see you. What you make of this announcement . Of this announcement . What we are auoin of this announcement . What we are going through of this announcement . What we are going through is of this announcement . What we are going through is a are going through is a difficult period of Energy Transition and effectively we need Carbon Based Energy to fund enable us to put in a low Carbon Energy future and its quite a mismatch between conventional energy and the growth of the new energy and thatis growth of the new energy and that is leading to instability in the market at the moment. Little detail from in the market at the moment. Little detailfrom saudi in the market at the moment. Little detail from saudi arabia so far about how they will do this massive shift. Absolutely. It will be this massive shift. Absolutely. It will be a this massive shift. Absolutely. It will be a huge this massive shift. Absolutely. It will be a huge amount this massive shift. Absolutely. It will be a huge amount of. It will be a huge amount of investment and is notjust about the ability to supply new forms of energy, its about storing energy and some of the new forms of energy are intermittent, wind can be intermittent, wind can be intermittent and solar and tidal seems to be parts of the day on their appearance when there is not Energy Supply which shows you where the shortages are. Shortages are. Riyadh is forecast shortages are. Riyadh is forecast to shortages are. Riyadh is forecast to Make Shortages are. Riyadh is forecast to make the. Shortages are. Riyadh is forecast to make the hundred oil in revenue this year, and their plans to come up with other solutions for how to make revenue in the country, they are kind of stalling, arent they . Are kind of stalling, arent the . ,. ,. ,. , they . The conventional oil based energy they . The conventional oil based energy is they . The conventional oil based energy is that they . The conventional oil based energy is that the i they . The conventional oil based energy is that the prices have risen substantially and a gas in the asian and european markets where there is such a shortage where prices are supernormal. Shortage where prices are supernormal. What you think about announcements supernormal. What you think about announcements like i supernormal. What you think i about announcements like this. We hear accusations like Greta Thunberg talking about blah, blah, blah with World Leaders saying things that i dont follow up with the action. Will that fall in this category . We are installing that fall in this category . 2 are installing low Energy Supplies and the rate of installation is not the problem, its the amount of Energy Storage which is the problem, so we are seeing good commitments to low energy Going Forward but we have not sorted the supply. That is what is really leading to weather questions as to whether we can breed ourselves away from being energy dependent on carbon . Good to see you as ever. Thank you. Still to come. London changes gear on its fight against pollution. From todays low Emission Zone will be expanding, Hitting Thousands of drivers the pocket. Nick, click, click. This is bbc world news. The latest headlines a Bbc Panorama Investigation uncovered evidence that the well� s largest Soft Drink Company may not be meeting its promises on plastic recycling. He was known to millions as gunter in the most famous coffee shop in the world. Best known for his world in france, James Michael tyler has died aged 59. There is a story for all you play bottas. Hd hierro has unveiled details about its lica that can be used on the roads. The affiliated Vehicle Makers as it aims to roll out the vehicle by 2024. Joining mao from singapore is dick mast. Give us is more details on this lica we could see flying around in three years time. Tt lica we could see flying around in three years time. In three years time. It seems like the stuff in three years time. It seems like the stuff of in three years time. It seems like the stuff of science like the stuff of science fiction, like it is beyond reality. This is hd hierro, an Electric Vehicle calls maker. They say they are designing a car that is basically able to drive on rowes bay can also lie at low altitudes. It has these rotors which come out, it has a lightweight design and can fold in depending on where you are. It even has a parachute in case you are in any trouble. They will tell you a little bit about xpeng as well. They were founded about four years ago in quango. They have done well since then. They attracted just last week half A Billion Dollars worth of investments from some quite big clients. I suppose their aim is to try to challenge the likes of haslar and become one of the Big Leading Electoral very Electric Vehicle makers. We know how big chain is going on tv at the moment. Things like flying because capture the headlines in the imagination. Yesterday they unveiled a new set of releases when it comes to their automated cars as well. Cars which can overtake, turn, speed up, slow down, all without the need for a driver. They have plenty install. It will be interesting to see how they are able to deliver on this, specifically the flying car promise. It might be slightly outside of our budget as well, i dont know. T slightly outside of our budget as well, i dont know. As well, i dont know. I think i miaht as well, i dont know. I think i might have as well, i dont know. I think i might have to as well, i dont know. I think i might have to bradie as well, i dont know. I think i might have to bradie piggy| i might have to bradie piggy bank. Never mind it unable to be actually used, what is the laws with having flying cars around. Surely they will have to be introduced somehow . Exactly. This could be the biggest hurdle for other competitors as well. For the moment we just dont have the infrastructure for it. We barely have the infrastructure for Driverless Cars or semiautomated cars. This will be something that will need collaboration of the authorities. It will need an infrastructure to match it. Given the amount of investment which has gone in, you would think this is something they are planning for. It could be in a contingency as well. It is only three years away, remember. Only three years away, remember. ,. , remember. Perhaps a little bit of ie in remember. Perhaps a little bit of pie in the remember. Perhaps a little bit of pie in the sky. Remember. Perhaps a little bit of pie in the sky. Nick, remember. Perhaps a little bit of pie in the sky. Nick, thank i of pie in the sky. Nick, thank you. Costs for goods Around The World are rising. In some cases exponentially as the demand for online goods sorted during the pandemic so too did the need for materials to send them. The big boss of the largest Producer Boxes and packaging in europe tells Aaron Heslehurst that inflationary costs will be passed on to customers and are here to stay. Passed on to customers and are here to stay here to stay. Yes as the short answer. Here to stay. Yes as the short answer at here to stay. Yes as the short answer. At the here to stay. Yes as the short answer. At the end here to stay. Yes as the short answer. At the end of here to stay. Yes as the short answer. At the end of the here to stay. Yes as the short answer. At the end of the day we have never seen, at least i havent seen in my work life, inflationary pressures like we have seen. I think i did say i did not believe four or five months ago, i did not believe they were transitory. I think these are for real and they are exacerbated by the Supply Chains and now we have a very, very Serious Energy crunch that is affecting all companies and all people. And ultimately it will affect all consumers, which is going to be a real issue. Unless the price is moderated as we go forward. We are going to have to pass on these costs. We are passing ms cosson. Normally with a loud, normally with a period of time for our customers to adjust. But, in general, opposition is very strong that we will recover these costs. And that is inflationary by its very nature. � ,. , is inflationary by its very nature. , nature. But given you control the entire nature. But given you control the entire production nature. But given you control the entire Production Chain i the entire Production Chain through forests, to the brocktimus, through to paper and packaging, does that mean you have been able to supply the handle the Supply Chain Problems are that some who have been crippled . Taste problems are that some who have been crippled . Been crippled . We have been able to avoid been crippled . We have been able to avoid because been crippled . We have been able to avoid because we been crippled . We have been able to avoid because we do i able to avoid because we do somewhat control the supply chain, as you say. Ultimately, we have to pay whatever price is in the market. One of the things we see with our large multinational customers is they are really evaluating all of the things they are doing right now because of what is happening in the supply chain system. And notwithstanding, not the least of which is Truck Drivers which, as you know, if you are in the uk is a real issue. But it is also an issue in other countries. Issue. But it is also an issue in other countries. With those Labour Shortages in other countries. With those Labour Shortages and in other countries. With those Labour Shortages and your. Labour shortages and your products being sold out in all but one country, are you struggling to keep up with all this demand . Struggling to keep up with all this demand . Prepandemic it was becoming this demand . Prepandemic it was becoming pretty this demand . Prepandemic it was becoming pretty difficult. | was becoming pretty difficult. So we had a lull. I remember in 2019 looking at it and say, my goodness, facing real difficulties getting engineers, electricians, Skilled Labour our factories. Electricians, Skilled Labour ourfactories. And, of course, a lot of the young people are not going into those professions, they are going into it and the Digital Economy and that sort of stuff stop so we do have, you know, a longer term issue so we are having to do a lot more training internally to make sure we have the skill set. But, you know, if we do need to find somebody quickly it is very difficult. For viewers on bbc world news, they can watch talking business with Aaron Heslehurst. The times on your screen now. The first airing at 2330 gmt on saturday. Londons ultra low Emission Zone will expand to cover much of the capital today and will affect up to 300,000 drivers every day. Broadly, diesels may before September 2015 and petrol vehicles may before 2006 will have to pay 12 and £50 a day to drive in the zone. Other cities in europe have their own low Emission Zones including paris and barcelona. How does london compare . Joining us now. Tell us a bit more first about how ultra low Emission Zones actually work. Are they affect . Oh, absolutely. This is part of a Broader Network of around 250 low Emission Zones across europe. They are very useful at reducing the most harmful emissions from vehicles. Effectively what they say is please upgrade your vehicle or used to a cleaner mode of transport or you may have to charge pay a judge to come into the area. Today in london we are seeing a significant change is going to bring millions of people cleaner air and is probably the most ambitious scheme right now in europe. Tt ambitious scheme right now in euroe. , ambitious scheme right now in euroe. Um. Ambitious scheme right now in euroe. , u. , europe. It is affecting at least 300,000 europe. It is affecting at least 300,000 drivers i europe. It is affecting at least 300,000 drivers every day. By one of them, who to get rid of my diesel car because i live just within that zone, half a mile or so within the north circular, the radios which is now affected. I was advised to get a Diesel Car Backin advised to get a diesel car back in the day because that was the government advice about what was the cleanest type of car. They had to get rid of it. Discussing people many thousands of pounds, isnt it . Everyone elses everyone is expected to play the part right now. Six in ten people in his own dont own a car. The Air Pollution in london and elsewhere in europe is actually taking 64,000 early deaths and causing conditions that people have to live with for the rest of their lives, such as underdeveloped lungs, cancer, and asthma. This is really a Public Health crisis and this is why the mayor is taking action today. He is not the only one. Cities across europe, spain and france as well have brought in National Laws that these schemes need to come in place. He is ahead of the game. How does this Hit Businesses . Is enough being done to support them to focus on clean energy . In london there has been a scrappy scheme for the smallest businesses getting up to £900,000. At i would argue more money needs to come into support the smallest businesses this transition. They have been very reliant on heavy Diesel Market for a long time. It is on the market now. But they need that support. We have looked to the government to provide that. Provide that. How quickly do ou provide that. How quickly do you think provide that. How quickly do you think that provide that. How quickly do you think that people provide that. How quickly do you think that people who i provide that. How quickly do i you think that people who live in this zone will see an impact. In this zone will see an impact in this zone will see an imact. ,. ,. , in this zone will see an imact. ,. ,. , i, impact. They have already been seeinu it. Impact. They have already been seeing it we impact. They have already been seeing it. We put impact. They have already been seeing it. We put out impact. They have already been seeing it. We put out some seeing it. We put out some research recently that londoners have been disposing of their diesel cars six times quicker than the rest of the uk. Londoners dont expect to see a change overnight, it has been building up for the past couple of years while the mayor and authorities have been advising people to change their vehicles. Cleanerair advising people to change their vehicles. Cleaner air is coming today and we are excited about it. ,. , ~ today and we are excited about it. , ~. , today and we are excited about it. Do you think enough people know about it. Do you think enough people know about this it. Do you think enough people know about this change . It. Do you think enough people know about this change . We i it. Do you think enough people i know about this change . We will see a lot of people hit with fines they are not expecting and cannot afford . T fines they are not expecting and cannot afford . And cannot afford . I really ho e and cannot afford . I really hope not and cannot afford . I really hope not. Like and cannot afford . I really hope not. Like i and cannot afford . I really hope not. Like i was and cannot afford . I really hope not. Like i was and, | and cannot afford . I really i hope not. Like i was and, the research has shown that people have been acting quite a lot in the past few years. We have seen a six times faster rate of Diesel Decline in the city than elsewhere in the uk. It points to the fact that people are starting to change their behaviour. Starting to change their behaviour. ~ , behaviour. Ok. We will see. Oliver lord, behaviour. Ok. We will see. Oliver lord, thank behaviour. Ok. We will see. Oliver lord, thank you behaviour. Ok. We will see. Oliver lord, thank you very | oliver lord, thank you very much for talking us through the new ultralow emissions zone. Before we go, looking at the asian markets. Shares steady on monday ahead of a week packed with major Quarterly Earnings announcements, while the dollar hovered near october lows after three weeks of risk friendly sentiment hurt safe haven currencies. The latest announcements to worry some investors, the Decision Making body for chinese parliaments and on saturday it will roll out a pilot Real Estate Tax in some regions. That is it for me for now. You can reach me on twitter. Have a great rest of your day. Goodbye for now. Hello there. Were starting the new week off on a sunshine and showers theme. Well have plenty of showers across southern and western areas. A lot of central and eastern parts will tend to stay dry with a good deal of sunshine around. Its going to be breezy for all, quite windy in the north and the west because well be close to this area of low pressure which is anchored to the north of the uk. So you can see quite a few isobars on the chart, these Weather Fronts enhancing the Shower Activity as they move from west to east. And were in a mild air mass, as you can see from the yellow and orange colours. So then we start monday off on a fine note across central and eastern areas, dry with some sunshine. There will be showers from the word go across western areas. These will tend to become more widespread, very frequent across the north west of scotland. Merging together to produce longer spells of rain, quite cloudy too. Some heavy ones as well across the south of england. Some of these could contain some hail and thunder. A few getting in towards the east on this strong west south westerly breeze, but many eastern areas should stay dry. And it will be windy, particularly around coasts of scotland, particularly the northern and western isles. Temperatures mild again in the south, 14 to 16 celsius, maybe a little bit fresher across scotland and Northern Ireland. As we move through monday night, it stays breezy, lengthy clear spells, further showers. These showers will tend to fade away because well start to see this Weather Front approaching Northern Ireland and Western Scotland later in the night to bring some windy weather, more cloud and more persistent rain around. Its going to be another pretty mild night to come, temperatures no lower than around six or seven celsius. So here is the Pressure Chart for tuesday. Weve got a pretty vigorous area of low pressure to the north west of the uk. This Weather Front will be affecting more northern and west parts of the country. Further south and east you are, close to this area of High Pressure over the near continent, then it is likely to stay largely dry. But it will be a breezy day wherever you are. Like i mentioned, staying largely dry with some sunny spells across southern and eastern areas. Cloudier further north and west, outbreaks of rain, some heavy and persistent, particularly across western hills, northern and Western Scotland, perhaps into north west england, North West Wales at times. It will be pretty cloudy and dull, but look at these temperatures. Despite the cloud and rain in the north, all the sunshine in the south, looking at temperatures a good five degrees above average. Its very mild as we move into the middle part of the week. Further wet and windy weather across North Western areas, and by friday, it looks like some of that wet weather will reach southern and eastern parts as well. See you later. Good morning, welcome to breakfast with dan walker and sally nugent. Our headlines today. A £6 billion budget boost for the nhs in england to tackle the huge backlog in people waiting for tests, scans and surgery. Its the latest spending pledge ahead of the budget this week. Ive been back to my home town of burnley to find out what else people want to hear from the chancellor. Covid Booster Vaccination Drive two million more invites will be sent out this week. Your birthday . Made fifth. Why . Im ust your birthday . Made fifth. Why . Im just making your birthday . Made fifth. Why . Im just making a list of peoples birthdays