yet it still plans to launch its own! let's start in the us, where president biden has announced plans to release 50 million barrels of oil from its reserves in an attempt to bring down soaring energy and petrol prices. the move is being taken in parallel with other major oil—consuming nations including china, india, japan, south korea and the uk. but what impact will this have? our north america business correspondent michelle fleury sent us this report from new york. the cost of petrol will be at the front of american voters�* mines this week as they travel for the thanksgiving holiday stopping a mismatch between demand and supply during the pandemic has pushed up prices to their highest level in seven years. with his approval rating thinking partly because of inflation, president biden was moved to act.— inflation, president biden was moved to act. i've worked hard these past _ moved to act. i've worked hard these past few _ moved to act. i've worked hard these past few weeks - moved to act. i've worked hard these past few weeks and - moved to act. i've worked hard these past few weeks and calls and meetings with foreign leaders, policymakers to put together the building blocks for today�*s global announcement. and while our combined actions will not solve the problem of high gas prices overnight, it will make a difference. it will take time but before long you should see the price of gas dropped when you fill up your tank.- you fill up your tank. taking action, you fill up your tank. taking action. the _ you fill up your tank. taking action, the biden _ action, the biden administration is releasing oil from the nation�*s strategic petroleum reserve stopping the decision was made jointly with the uk, china, south korea, india and japan. washington�*s decision to team up with some of the world�*s largest energy consumers to lower prices is unprecedented and send a warning to opec and other big oil producers that they need to pump more crude. but the amount of oil being released, 50 million barrels by the us was less than expect it, according to this consultant. the united states have — to this consultant. the united states have roughly _ to this consultant. the united states have roughly 600 - to this consultant. the united i states have roughly 600 million barrels of oil, therefore they could indeed release more. always the question is going to be will this change the opec price strategy? opec is going to meet as a matter of fact next week and this is going to be a very good test. the organisation _ be a very good test. the organisation of - be a very good test. the organisation of the - be a very good test. the organisation of the petroleum exporting countries and its allies, known as opec plus haven�*t shown any willingness to change strategy in the past, reject in previous calls to increase production. cornelia meyer is chief executive of meyer resources. lovely to see you, cornelia. so give us your take on this move on the part of president biden. will it have any impact at all on opec plus, as we have been hearing they are going to meet next week. hearing they are going to meet next week-— next week. great to speak to ou, next week. great to speak to you. thank — next week. great to speak to you. thank you _ next week. great to speak to you, thank you for _ next week. great to speak to you, thank you for having - next week. great to speak to l you, thank you for having me. next week. great to speak to i you, thank you for having me. i don�*t think it will have that big an impact on opec plus, because they have steadily been... it hasn�*t been that they haven�*t been increasing, they haven�*t been increasing, they haven�*t been increasing, they have just been incrementally increasing 400,000 barrels a day and markets were undersupplied, so the us administration and others had called on them to pump more and they said no, we don�*t quite trust what is happening with the virus and we are being conservative. i don�*t think it will affect opec plus too much, if anything, they will maybe pump a little bit less than they were scheduled to pump, every month 400,000 barrels more through april. they may do a little bit less because opec plus foresees the market to swing from deficit to a surplus. so they think, opec plus, opec sees quite a substantial excess and supply throughout next year. others like the iea, the oecd, the watchdog, the american energy agency, see that surplus to be much, much smaller. we agency, see that surplus to be much, much smaller.- much, much smaller. we will have to see _ much, much smaller. we will have to see who _ much, much smaller. we will have to see who is _ much, much smaller. we will have to see who is right, - much, much smaller. we will| have to see who is right, time will tell on that but in the meantime, the price of oil has hardly moved, hasn�*t it? in response to biden�*s announcement. it response to biden's announcement. . , ., announcement. it has and it hasn't. this _ announcement. it has and it hasn't. this has _ announcement. it has and it hasn't. this has been - announcement. it has and it hasn't. this has been in - announcement. it has and it hasn't. this has been in the | hasn�*t. this has been in the works for quite some time and when biden started announcing it and especially last week after china said it would release some barrels or some millions of barrels, the price fell about $8 over the last two weeks or so. then it went up a little bit because actually markets expected more. but like so often also, in spot markets you buy on the rumour and you sell on the fact, so we have a similar phenomenon here. shill similar phenomenon here. all riaht, similar phenomenon here. all right, sadly we are out of time, they will speak you again soon but thank you for your analysis this morning, we appreciate it. let�*s get some of the day�*s other news. apple is suing israeli spyware firm nso group and its parent company for allegedly targeting iphone users with a hacking tool. nso group said its tools were made to target terrorists and criminals. but it has allegedly also been used on activists, politicians and journalists. america�*s three largest pharmacies have been found guilty of helping fuel a painkiller crisis in two ohio counties, in a landmark case. a federal court found that actions by walgreens boots alliance, cvs, and walmart helped create an oversupply of addictive opioid pills. the scale of compensation will be decided at a future hearing. shares in the retailer gap sank 15% in late trading on tuesday, after the firm announced a $152 million loss for the third quarter. gap blamed supply chain issues and factory closures for the disappointing results. to turkey now, where the country�*s currency, the lira, hit a new record low on tuesday after falling 15%. investors are less than impressed by president erdogan�*s decision to back a controversial plan to cut interest rates. the lira has fallen for 11 straight days and is trading at around 13 to the us dollar. turkey is also struggling with rising prices, its inflation currently stands at a huge 20%. dan kemp is chief investment officer at morningstar investment management. good to see you. when you�*ve got a problem with inflation, you put interest rates up, don�*t you? not down. you put interest rates up, don't you? not down. good morning — don't you? not down. good morning sally, _ don't you? not down. good morning sally, that - don't you? not down. good morning sally, that is - morning sally, that is absolutely right. that is the conventional wisdom that everyone ascribes to, that inflation is a very dangerous phenomenon on. once it takes root. we are hearing lots about inflation at the moment and what is happening in turkey is really a microcosm of the risks that people face around the world but there those risks are exacerbated because elsewhere in the world people expect independent circle banks to do the right thing, put interest rates up to deal with inflation and of course we are seeing the reverse, that there is pressure on the circle bank to reduce interest rates and that is leading to a loss of confidence.- leading to a loss of confidence. �* , , ., confidence. and 'ust explain wh an confidence. and just explain why an extremely _ confidence. and just explain why an extremely weak - confidence. and just explain - why an extremely weak currency as a real problem for an economy especially a developing one such as turkey. it is economy especially a developing one such as turkey.— one such as turkey. it is a threefold _ one such as turkey. it is a threefold problem. - one such as turkey. it is a threefold problem. the i one such as turkey. it is a l threefold problem. the first one such as turkey. it is a - threefold problem. the first is that a country like turkey imports lots of goods, the cost of those goods has risen, and that hurts the population. turkey is fortunate enough to have lots of export revenue as well through tourism and other things and so a lower currency can help, but nevertheless, people see the cost of those goods coming through. the second is that developing countries often need external capital in order to continue that development, to continue that development, to continue that swift economic growth to bring them up to a level that richer countries are at and if you have that loss of confidence externally that can lead to less capital going into a country and stymie the economic growth, but third we have a situation where people lose confidence in the currency inside a country and then instead of using the one can try to change their holdings to us dollars or other and that so—called dollarised nation of an economy can permanently hurt an economy can permanently hurt a currency, leading to a rollover and an exacerbation of the problem. so there�*s lots of challenges that come with a weak currency, high inflation which is why people around the world are looking from the turkish central bank to address that and of course they are not at the moment. it that and of course they are not at the moment.— at the moment. it is an interesting _ at the moment. it is an interesting situation. . at the moment. it is an - interesting situation. thanks for explaining that to us, we will see you soon. the korean tech giant, samsung, has announced it will be building a $17 billion semiconductorfactory in the city of taylor in texas. the firm hopes the plant will create 2,000 jobs and start production in late 2024 and comes amid a global chip shortage. joining me now from our asia business hub of singapore is sura njana tewari. for samsung, this is a huge investment in the us? absolutely, samsung is the world�*s biggest memory chip maker and now it is making its biggest ever as an investment in the us, taking the total investment in the country to $47 billion. this plant promises to be the company�*s most advanced, the facility will be bigger than the one other american plant that it has in austin, texas. the company already employs 20,000 people in the united states but this plant will create 2000 jobs and it will make advanced chips for powering mobiles, autonomous vehicles, 5g, high—performance computing and ai. as you mentioned, this comes amidst a global shortage of chips, causing major disruptions for many men affect jurors including carb makers, even apple has warned that iphone shipments would be delayed and samsung isjoining its rivals, the likes of tsmc and intel in this race to expand chip manufacturing to tackle those supply issues. most chips in the world are made in this region, but there is another element to this. the sick seen as an area of strategic competition with china and joe biden is pushing chip giants to increase production in the us. his promise begins of dollars of funding to boost manufacturing. the us commerce secretary has said these chips are critical for national and economic security. she was in the region just last week and said that america had dropped the ball on r&d and manufacturing and needs to bring production home. of course this will take time for a plant of this size to be built. construction is starting early next year, operational by the second half of 2024. the problem is, the world needs computer chips right now and there is no short—term solution to it. there is no short-term solution to it. ., . ., , , to it. know, there certainly is at. to it. know, there certainly is at- thank— to it. know, there certainly is at. thank you _ to it. know, there certainly is at. thank you for _ to it. know, there certainly is at. thank you for the - to it. know, there certainly is at. thank you for the latest l to it. know, there certainly is| at. thank you for the latest on that. stay with us on bbc news, still to come: india cracks down on crypto, warning it will soon ban the majority of digital currencies from trading in the country. president kennedy was shot down and died almost immediately. the murder ofjohn kennedy is a disaster for the whole free world. he caught the imagination of the world — the first of a new generation of leaders. margaret thatcher is resigning as leader of the conservative party and prime minister. before leaving number ten to see the queen, she told her cabinet, "it's a funny old world." angela merkel is germany�*s first woman chancellor, easily securing the majority she needed. attempts to fly a hot air balloon had to be abandoned after a few minutes, but nobody seemed to mind very much. as one local comic put it, "it�*s not hot air we need, it�*s hard cash." cuba has declared nine days of mourning following the death of fidel castro at the age of 90. castro developed close ties with the soviet union in the 19605 — it was an alliance that brought the world to the brink of nuclear war with the cuban missile crisis. hello again, you are with bbc news. let�*s remind you of our top stories. nasa is doing final preparations for a space mission aimed at testing the technology needed to knock an asteroid off a collision course with earth. the us releases tens of millions of barrels of its oil reserves in an attempt to bring down soaring energy and gasoline prices. to india now, where the country�*s government has announced plans to ban the majority of cryptocurrencies from operating in the country. india�*s central bank plans to launch its own digital currency soon, possibly as early as next month. joining me now from mumbai is india business reporter nikhil inamdar. nikhil, what is behind this latest announcement toobanna cryptocurrencies across india? well, sally, this has pretty much been in the offing, the government, including the central bank is made uncomfortable with cryptocurrencies, particularly the impact they may have with india�*s macroeconomic stability. also the aggressive selling that has been happening and the high prices and high returns that have been promised —— to ban. mr modi said a week ago that he hoped that crypto would not fall into the wrong hands and spoil india. a lot of circumspection at the official level. what we have now seems essentially the legislative agenda being tabled ahead of the winter session of the parliament, where the crypto regulation bill is expected to come out. we would see the framework of the central bank digital currency, but perhaps more detail exactly how the government plans to define cryptocurrencies. i think that is what the industry is looking at. this is a sector that has been growing quite substantially. we have 15— 20 million crypto investors, about $6 billion has been invested, and roughly about 400 crypto start—up have also become unicorns. so the industry is on tenterhooks and looking at more granular detail on what exactly the depth of this bill would entail. ., entail. 0k. nikhilthere in bondi forest. _ now back to inflation, and supply chain issues combined with the pandemic are having a major impact on global food supply. as the us fast approaches thanksgiving, charities say many families are struggling to afford basic supplies as prices go up. food insecurity in the united states is still at crisis levels with food banks across the country serving 55% more people than before the pandemic, according to feeding america. colleen kelly is the chief executive of concern worldwide us, which is an international humanitarian organisation. it is based in the united states. good to talk to you, colleen. if we focus on the us to begin with, in the run—up to thanksgiving how is it looking? well, there is definitely a hunger crisis in the us and around the world. obviously in the 24 countries where we work the 24 countries where we work the situation is much more dire, but definitely food supplies, the inequality of the wealthy and not wealthy just seems to get bigger and bigger in our country as well as many countries. just the fact that a billionaire was born every 17 minutes in 2020 and 150 million people were plunged into extreme poverty around the world, it�*s a very kind of shocking number that is talking about what is happening. during the pandemic— about what is happening. during the pandemic we _ about what is happening. during the pandemic we recall- about what is happening. during the pandemic we recall we - about what is happening. during the pandemic we recall we were| the pandemic we recall we were showing our viewers shocking images of people queueing in cars around the block in the us just to get food, which too many watching around the world is astounding, given you are the united states of america. yes, absolutely. we even launched a campaign earlier this year called hashtag unfortunately fake news, with headlines like space can wait, billionaire puts passion project on hold, the extreme poverty. it was kind of taking headlines from the news and was meant to be general, but really to point out what some of us, all of us could be doing to help and extreme poverty. currently president biden is trying to get through congress another huge bill with regards to social spending. he has his infrastructure won through. what are your hopes he will succeed in that because he has an agenda to try to help this problem, has anti—? an agenda to try to help this problem, has anti-? absolutely. and i think, _ problem, has anti-? absolutely. and i think, you _ problem, has anti-? absolutely. and i think, you know, - and i think, you know, with the world hunger and the sdg is there was a huge plan to bring zero hunger by 2030. unfortunately, after ten years u nfortu nately, after ten yea rs of unfortunately, after ten years of declining it�*s going back up again and there are nearly a billion people in the world who are in food insecure, and 45 million on the brink of famine. so doing this in the united states, it shouldn�*t be a problem here, it still is a problem, and it�*s definitely been brought on by kind of a toxic combination here and around the world of climate conflict and covid—i9 affecting food supply chains. find conflict and covid-19 affecting food supply chains.— food supply chains. and also, of course. — food supply chains. and also, of course, add _ food supply chains. and also, of course, add to _ food supply chains. and also, of course, add to this - food supply chains. and also, of course, add to this the - of course, add to this the problem of inflation, which we have been talking about already in the programme, energy prices pushing up prices in general and in the run—up to thanksgiving is it fair to say most basic items are more expensive this year than in the us? ~ , , ., , expensive this year than in the us? ~ , , ., y , expensive this year than in the us? absolutely. there is some talk of it being _ us? absolutely. there is some talk of it being an _ us? absolutely. there is some talk of it being an extra - us? absolutely. there is some talk of it being an extra $5 - talk of it being an extra $5 per person, but there is definitely, i think, discussions around consumption and how much people have been consuming and thanksgiving is always a perfect example of that. and i think everyone learned in 2020 we may need a lot less than we thought we did and food waste is definitely something that affects the climate crisis. it something that affects the climate crisis.— climate crisis. it certainly does. climate crisis. it certainly does- it _ climate crisis. it certainly does. it has _ climate crisis. it certainly does. it has been - climate crisis. it certainly - does. it has been interesting talking to you. colleen, thanks for talking to us. colleen kelly from concern worldwide us. ., ~ , ., now here�*s a story for all you gamers, because this year marks the 50th anniversary of the first commercially available arcade video game, computer space, in november 1971. to celebrate the milestone, the golden joystick awards, which happened last night in london, crowned dark souls as the ultimate game of all time. the gaming industry has been one of the big winners of the pandemic, and is estimated to be worth $173 billion right now. joining me now is george jijiashvili, who�*s the principal analyst at omdia. good to see you, george. first of all, dark souls, fill us in, how come it is the best game of all time? it how come it is the best game of all time? . , how come it is the best game of all time? .,, . ., , how come it is the best game of alltime? . ., , ., all time? it has certainly got all time? it has certainly got a lot of attention _ all time? it has certainly got a lot of attention and - all time? it has certainly got a lot of attention and a - all time? it has certainly got a lot of attention and a lot . all time? it has certainly got| a lot of attention and a lot of passionate players around the world who will be delighted. however, if you look at all other nominees in that category i believe it was impossible to pickjust one, given the variety of titles there. eye can imagine. _ variety of titles there. eye can imagine. because, - variety of titles there. eye can imagine. because, of course, games become very popular in a short period of time and then something else comes along that supersedes it. but in terms of the gaming business, would you argue, we�*re talking 50 years, this is its prime? we're talking 50 years, this is its prime?— its prime? well, it is definitely _ its prime? well, it is definitely its - its prime? well, it is definitely its prime, | its prime? well, it is i definitely its prime, and its prime? well, it is - definitely its prime, and you are only going to get stronger. according to omdia�*s research, dickens newman spent on contents and hardware is 119 billion us dollars this year and will reach 200,000,000,020 23. �* , ., ~ and will reach 200,000,000,020 23. and in terms of dark souls itself, what — 23. and in terms of dark souls itself, what makes _ 23. and in terms of dark souls itself, what makes it - 23. and in terms of dark souls itself, what makes it so - itself, what makes it so popular —— 200 billion in 2023. it is a game that basically involves using magic spells and kind of mediaeval weapons to defeat extremely difficult forces. the game is known to be very, very hard, but obviously the heart of the game is the more satisfying it is when you beat it. �* , . ., , more satisfying it is when you beat it. �* , . ~ , ., beat it. and 'ust quickly, what does the beat it. and just quickly, what does the future _ beat it. and just quickly, what does the future look - beat it. and just quickly, what does the future look like? - beat it. and just quickly, what| does the future look like? you talked about hardware and how huge that is as a moneymaking element of this industry at the moment, but will we see things like consoles and, you know, those kinds of things becoming obsolete eventually?— obsolete eventually? well, eventually _ obsolete eventually? well, eventually perhaps, - obsolete eventually? well, eventually perhaps, but. obsolete eventually? well, eventually perhaps, but at| eventually perhaps, but at least within the next ten years consoles are not going away anywhere, anytime soon, because consoles are responsible for about one fifth of the total spend on games. and with things like metaverse, which mark zuckerberg of facebook calls it the next generation, gaming will play a massive role in how we interact with each other in the future. we interact with each other in the future-— we interact with each other in the future. indeed. i'm sure it will. the future. indeed. i'm sure it will- good _ the future. indeed. i'm sure it will. good to _ the future. indeed. i'm sure it will. good to talk _ the future. indeed. i'm sure it will. good to talk to _ the future. indeed. i'm sure it will. good to talk to you - the future. indeed. i'm sure it will. good to talk to you as . will. good to talk to you as well. thank you for making the time. let us quickly show you at home how markets have been trading in asia so far today. i�*m hoping to bring you the numbers. markets are extremely jittery as the headlines surrounding covid cases going up, especially in europe, dominated at the moment. you can see the price of rent up by zero still $80—$50 a barrel —— the price of oil up. you are up—to—date. i will see you soon. hello there. later this week, not only is there potential for some more disruptive weather heading our way, but something much colder, as well. wednesday starts off on a chilly note with a bit of frost in places, but some mist and dense fog patches possible across parts of england and wales — the winds have been lightest through the night. a bit more of a breeze through scotland and northern ireland to get under way, and some wet weather for the morning rush hour — this weather front here, a cold front, will bring the first run of colder air further and further southwards as we go through the next 24 hours. in the southern half of the country, a bit of a chill, temperatures not rising much — we still have light winds and a relatively quiet day, lots of mist and fog around. the morning rain, though, across scotland and northern ireland is replaced by sunshine and scattered showers, some heavy with hail, turning wintry in the far north of scotland, particularly on the hills. but turning wetter later on, northwest england, north and west wales as that cold front slowly makes its way southwards and eastwards. a little bit of patchy rain and drizzle to the south and east, we�*ll see some wetter conditions here through wednesday night. at the same time, very windy through wednesday night into thursday, and the far north of scotland seeing gusts of wind 50—60 mph — and that�*ll bring colder air, a very cold thursday morning commute, but a bright, crisp one for many — really good visibility, sunshine for the most part. some showers around the western and eastern coasts, but most of the showers will be in the north of scotland, where snow could even come down to sea level later, and an added wind—chill to go with what will be a cool day. and then things turn much more disturbed — through thursday into friday, particularly friday night and saturday, this area of low pressure transferring its way southwards. cold air wrapped around it, which means a greater chance of things turning to snow for some, but it�*s the winds which could be the key feature. even on friday, the winds really starting to pick up — outbreaks of rain initially pushing southwards and eastwards, but the showers that follow in its wake will turn increasingly wintry — over the hills for many, but even to lower levels in the northern half of scotland, and it will be a cold day. but through friday night into saturday, as our low pressure transfers its way southwards, we could see gales, if not severe gales develop along that weather system, working its way south and, as i said, there could be a bit of snow mixed in, too. and that will take us into saturday, as well. now those strong winds could be a problem in some parts, we could see damaging gusts of wind, some travel disruption around to take us into the weekend. even if you don�*t see those damaging winds — widespread gales and, as i said, that risk of rain and snow, too. see you soon. good morning, welcome to breakfast withjon kay and sally nugent. our headlines today. harper�*s law. mandatory life sentences for criminals who kill emergency service workers, after tireless campaigning by the widow of pc andrew harper. most people who applied to the windrush compensation scheme have yet to receive a single penny. a group of mps says the home office should be held to account. he�*sjust run 101 miles in a day. kevin sinfield will hobble onto the sofa to us what the challenge meant to him and his friend rob burrow. will you be walking through a winter wonderland like this one