More now on the restrictions that come into effect this morning in england which its hoped will reduce the spread of the new coronavirus variant, omicron. It is now mandatory to wear face coverings on Public Transport and in shops, but not in hospitality venues. Isolation rules have also returned for travellers coming into the uk, until they receive a negative pcr test. Also all contacts of suspected Omicron Cases will be contacted by nhs test and trace and required to self isolate for ten days, regardless of your Vaccination Status to talk through the impact on businesses im joined by dr roger barker, director of policy at the institute of directors. What are your members say about this latest set of restrictions . ,. , this latest set of restrictions . ,. , restrictions . This has come at a delicate restrictions . This has come at a delicate time restrictions . This has come at a delicate time for restrictions . This has come at a delicate time for our a delicate time for our members. As this confidence was pretty agile anyway. So this isnt helpful. Having said that, were pretty used to dealing with these situations. If you look at how much Business Input declined during the last lockdown compared to the last lockdown compared to the first lockdown, it was a huge difference. I think that our members, as long as they can receive the right sort of information about which way this is going and the sort of steps that they need to put in place, they can adapt. The key for the government is to be absolutely transparent with the evidence, with the information, as it emerges. Keep witnesses informed Stop Let Business Know what the potential roadmap might be based on different stages of development in terms of evidence. If they have that information then they can adapt to this situation but it is certainly not helpful to them just before christmas. [30 certainly not helpful to them just before christmas. Do you aet a just before christmas. Do you get a sense. Just before christmas. Do you get a sense, though, just before christmas. Do you get a sense, though, that. Just before christmas. Do you l get a sense, though, that there is concern that there is covert fatigue out there, that people are just so fed up with this now and in the run up to christmas there is this renewed fear that yet again we could have a christmas cancelled . And that could be seriously damaging for retail, for hospitality, for many sectors across the uk. N hospitality, for many sectors across the uk. Across the uk. I dont think were going across the uk. I dont think were going to across the uk. I dont think were going to have across the uk. I dont think i were going to have christmas cancelled actually. I think there are some restrictions going to be put in place but these next few weeks will be crucial for business especially in the retail sector. Once we of course get very close to christmas, we will have a natural break in terms of people starting to work at home much more for a couple of weeks until the new year so i think that at the moment, based on the information that we have, and as i say, we still dont really know, were still in dark, but looking at how things are now, i think we can get to christmas. We can get through that crucial period and we can then look at how things might develop further in the new year and the governments going to look at restrictions after the new weeks anyway. But what will be looked new weeks anyway. But what will be looked at new weeks anyway. But what will be looked at is new weeks anyway. But what will be looked at is isolation. | will be looked at is isolation. If there are a number of staff lives who have to isolate, we dont know how transmissible this new variant will be, that may be tricky to manage. That may be tricky to manage. That ma be may be tricky to manage. That may be tricky may be tricky to manage. That may be tricky to may be tricky to manage. Twat may be tricky to manage. Twat may be tricky to manage but we have been through a situation just some months ago so this is not a completely new scenario for business. Businesses can manage, to the extent that government actually provides it and keeps it informed and provided with information, allows it to actually plan for how it is going to deal with the situation. I think the thing that really hits business is uncertainty. We saw that with the decline in the stock market a few days ago. Even if it is bad news, if government can reduce that uncertainty, keep is misinformed informed, allow it to do its assessment, then is this can deal with the situation. Thank ou, deal with the situation. Thank you. Doctor deal with the situation. Thank you, doctor roger deal with the situation. Thank you, doctor roger barker. Deal with the situation. Thank i you, doctor roger barker. Well, travellers and airlines are scrambling to rearrange plans as the latest restrictions because further turmoil and confusion. It could jeopardise Holiday Plans despite a rebound a coding to the european travel commission, more than half sort Tourist Numbers decline. Over 7 from pre pandemic levels. It is warning almost 3000 jobs across the eu are at risk and 35 Billion Euro could be wiped off the regions economy this year. Lets talk this through. Eduardo santander is Executive Director of the european travel commission. That was data you collated beef prior to the new variant, wasnt it . Prior to the new variant, wasnt it . Wasnt it . Yes, i think we should not wasnt it . Yes, i think we should not panic wasnt it . Yes, i think we should not panic yet. Wasnt it . Yes, i think we | should not panic yet. What wasnt it . Yes, i think we should not panic yet. What we desperately need is to find a balance. It is part of the european citizenship and also the uk. We need to have it based on scientific evidence. We know the European Center for Disease Control issued a Press Release saying that Travel Restrictions have no impact whatsoever on viral spread so we really have to stop this panic now. Moreover, we have to really push governments for more Co Ordination and harmonisation is. We see that everything is starting again from the beginning. We dont want to see what we saw last year over christmas, definitely not. We have to change policies. We have now tools, and we have to change our approach from that risky country based colours, map system, to a risky traveller approach which means that throughout protocols and measures, you can definitely control the spread of a virus without restrict in travel. But for travellers without restrict in travel. But for travellers it without restrict in travel. But for travellers it is without restrict in travel. But for travellers it is so confusing when you have got in countries with different rules in place depending on where you arrive, where you have travelled through on the journey, et cetera, et cetera. It does put people off from travelling, doesnt it . Also the cost as well when you have to come home and do certain particular tests, et cetera. Absolutely. Uncertainty is the biggest enemy of the travel and tourism sector. We really ask governments proactively here in brussels but also beyond to the rest of the planet that they should talk to each other, they should talk to each other, they should not ask others to do what they are not doing, not acting unilaterally but with common and co ordinated measures. I think this is the key here, not to have a parcel of measures but to have a clear idea on what it implies to be travelling. Idea on what it implies to be travelling travelling. Lets hope that this is the travelling. Lets hope that this is the outcome. Travelling. Lets hope that this is the outcome. We l travelling. Lets hope that i this is the outcome. We are travelling. Lets hope that this is the outcome. We are in the waiting game at the moment was not president of the european travel commission, thank you. Lets get some of the days other business stories. Activity at chinas factories has grown this month, for the First Time Since august. The purchasing Managers Index was at 50. 1 in november a figure above 50 indicates growth and that is up from 49. 2 in october. Like so many other countries the chinese economy has been hit by Supply Chain Disruptions and an Energy Crisis in recent months. Its a very different story in south korea where Factory Output has shrunk at its fastest pace since may 2020. Industrial output unexpectedly fell by 3 . Analysts had been expecting zero point 4 growth. Thats as the Global Semiconductor Chip Shortage continues to affect the south korean auto industry. You may have heard the news. A big shakeup at Social Media Giant twitter jack dorsey is stepping down as Chief Executive of the company. He will be replaced by the Social Media Giants current cto, parag agrawal. Mr agrawal joined twitter in 2011, and has been the firms head of Technology Since 2017. Our north America Technology correspondent James Clayton has more from san francisco. In many ways, jack dorsey was the kind of archetypal stereotypical Chief Executive in Silicon Valley because he is a hugely wealthy and very, very rich man. He is a multibillionaire but you wouldnt necessarily know it from looking at him because he is a hippie at heart, he wears tie dye t shirts, and times he has this big, long, Wizard Like Beard and he is fundamentally an idealist at heart and believes that tech can Change The World. Certainly with twitter, the company he co founded, it did Change The World. It has completely revolutionised the way that politicians speak to voters. The way the public gets It Information and news. Perhaps its most important and famous twitter user over the years has been former president trump. He was an expert at using twitter are bypassing traditional media, and was a hugely important platform for donald trump was my collection in 20 2016. Trump was my collection in 20 2016. Decision to move donald trump from the platform after the sixth of January Hill Riots was one that jack dorsey talk and will be known as the most controversial decision that jack dorsey made as Chief Executive of twitter. The manner by which jack dorsey has left is also extremely interesting because unlike someone Likejeff Bezos who left amazon as Chief Executive earlier this year and retained a lot of influence in the company, jack dorsey was a clean slate and a clean break from the company. He will even give away his board seats. That does suggest perhaps things arent Rosy Betweenjack Horsley and twitter� s board but i am sure we will hear more about that. Jack dorsey. He is still in his mid 40s and may well build Change The World in other ways, i certainly wouldnt bet against that. As for twitter, investors clearly want more money and they want to monetise the platform in a more successful way. Jack dorsey has turned the tide in that area over recent months but the new increase new Chief Executive to increase and make more money. Make them more money. It is a question often asked in business. Whats in a name . Well a lot money for an obscure Crypto Currency Named Omicron which has seen its value soar in recent days gaining ten fold in value over the weekend. It is unclear when it was created though. If you look, it would seem it was created sometime in november. Joining me now is fahad kamal cheif Investment Officer at kleinwort hambros. This is just obscure, this isjust obscure, isnt this is just obscure, isnt it . Why necessarily, a cryptocurrency with the name of the latest variant of covid be seen as an attractive investment right now . We cant hear you. Are you unmute at the moment . No problem. For hear you. Are you unmute at the moment . No problem. Hear you. Are you unmute at the moment . No problem. For all the reasons that moment . No problem. For all the reasons that markets moment . No problem. For all the reasons that markets exist. Reasons that markets exist. There is a combination of greed, of investors sniffing opportunity, of the name being in the right place at the right time, and the result was in front of you. It is an obscure currency started basically a life of, probably like many other currencies, never gaining any recognition, to suddenly jumping up 1000 . It has subsequently fallen dramatically as well, but clearly, sometimes in markets, you just get lucky by being in the right place at the right time. ,. , the right place at the right time. , a , time. You call it luck but it is such a time. You call it luck but it is such a speculators time. You call it luck but it i is such a speculators game, isnt it. This situation. Does it not highlight again how volatile and risky cryptocurrencies can be . fit cryptocurrencies can be . Of course. Cryptocurrencies can be . Qt course. And in fact if anything, one of the great arguments of cryptocurrencies has been that there is a great diversify. What we saw on friday with the leading Cryptocurrency Bitcoin is that it actually fell about 10 in value. Taking a huge chunk out of that argument of diversification. Clearly it sold offjust when we wanted it to do well and hold its value. Something that bold incidentally did and it is funny because gold is often considered the obsolete version that the cryptocurrencies are trying to replace. Ht that the cryptocurrencies are trying to replace. Trying to replace. It is interesting, trying to replace. It is interesting, isnt trying to replace. It is interesting, isnt it . I trying to replace. It is i interesting, isnt it . And trying to replace. It is interesting, isnt it . And give us your take on how you feel markets will be in the next few days and weeks as this uncertainty hangs over us about omicron and how difficult this will be to manage in terms of the transmissibility, how risky it in is terms of our health, et cetera. Youve obviously had the nail on the head with the word uncertainty, wejust on the head with the word uncertainty, we just dont know. Theres more questions than answers, we have no idea how this is going to affect the Global Economy for months to come. If you just look at the price of oil, its fallen quite dramatically since last week, still in the low 70s where it had been in the mid 80s, that is the indicator that clearly the markets are expecting some sort of slowdown stopping it on the other Hand Equity Market seem to have jumped the other Hand Equity Market seem to havejumped again. Either way there is going to be clearly a great deal of volatility until we know more. We shall fasten our seatbelts. Good to see you again today. Stay with us on bbc news, still to come bring out your old banger prices for used cars go up and up with no quick fix to the Chip Shortage hampering production of new ones. Its quite clear that the worst victims of this disaster are the poor People Living in the slums which have sprung up around the factory. I am feeling so helpless that the childrens are dying in front of me and i cant do anything. Charles manson is the mystical leader of the hippie cult suspected of killing sharon tate and at least six other people in los angeles. At 11 oclock this morning, just half a Metre Of Rock Separated Britain from continental europe. It took the drills just a few moments to cut through the final obstacle. Then philippe cozette, a minerfrom calais, was shaking hands and exchanging flags with robert fagg, his opposite numberfrom dover. This is bbc world news, the latest headlines a return to testing and Self Isolation for uk arrivals, its among changes to come into force, in response to the new variant of coronavirus. In a ceremony to mark barbadoss transition to a republic, the Prince Of Wales has said that british history has been forever stained by the appalling atrocity of slavery. One of australias biggest banks, westpac, has agreed to pay 80. 6 million in penalties after the australian regulator alleged the lender had widespread Compliance Failures that included charging dead people for services. Sarah toms is following the story for us. This sounds extraordinary, tell us more . Us more . Yes, it is an extraordinary us more . Yes, it is an extraordinary story us more . Yes, it is an extraordinary story stopping the australian regulator has hit westpac six lawsuits over its shoddy treatment of customers. Among the banks long list of wrongdoings is a claim that for a decade, the bank charged more than 7 Million Us Dollars to over 11,000 customers forfinancial 11,000 customers for Financial Advice 11,000 customers forFinancial Advice even though these customers had already died. In addition to that, if that wasnt bad enough, theres also the fact that the regulator is accusing the bank of Double Charging on insurance policies, also failing to adequately disclose fees to its customers. West pack has admitted westpac has admitted that it has broken the law, it is agreed to pay penalties of 80 Million Us Dollars and also compensation to the estates of its affected customers but all of this must first be approved ijy of this must first be approved by the court and in the meantime, westpac says that is hoping to resolve and correct these problems, but you may remember last year the bank was also in trouble when it was hit with A Billion Dollar fine, also in trouble when it was hit with A Billion Dollarfine, a record fine for australias largest breach of its anti Money Laundering laws. Thanks sarah, interesting story. Am short more details will emerge later. Now time for our ceo secrets, nish parekh runs a company that makes products out of the offcuts which Garment Makers throw away. The goods are designed in the uk but manufactured in india. Three years ago, he had a crisis when the goods he had ordered for the Christmas Season arrived almost too late. The business lesson from this experience, nish says, is always to have a back up supplier. You need to plan for the worst. Two years ago, we two years ago, we were two years ago, we were doing really well for our christmas orders, and we sent the order to our supplier. He wasnt expecting so much orders. We headed delivery date of the second of december in mumbai, and we were waiting and waiting but things just werent getting done. We got the delivery on the 18th Of December and all of us rushed to the warehouse near the airport at 6pm in the morning and on the streets, we delivered all the boxes and all the orders in time but i would not do it again. January the following year we started looking to a new supplier and over the period of the next ten months, we gave them small orders each month. Now we divide our work, 20 to a backup supply, 80 occurrence current supplies are both of them are happy and they know what to expect. So always have a backup supplier, and train them stop even if it cost a bit more, go ahead and do it. There ou have more, go ahead and do it. There you have it. More, go ahead and do it. There you have it, some more, go ahead and do it. There you have it, some top more, go ahead and do it. There you have it, some top tips. The Omicron Variant could add pressure to a chronic shortage of microchips used in car manufacturing, the boss of Car Giant Nissan has warned. And prices of second hand cars are rising at unprecedented rates according to the aa as more people consider buying used cars amid a low supply of new vehicles. Research by the motoring Group Suggests the price of the uks most popular cars have increased up to 57 since 2019. Joining me now is tom leathes, co founder ceo, motorway online used Car Marketplace where dealers bid for your car. Good to have you on the programme, is Business Booming for you, then . Ht programme, is Business Booming foryou. Then . For you, then . It is, weve seen unprecedented for you, then . It is, weve i seen unprecedented growth for you, then . It is, weve seen unprecedented growth over the past, particularly over the past two years since the pandemic started, and that is a combination of both increases in prices and changes within the market but the bigger trend as the ship from used car transactions happening off line to moving online. And we support that by helping people to sell their car using their smart phone to profile the car and we then have 4000 Car Dealerships which lead on those cars with the highest bidder winning the car and by removing the traditional middleman and moving the process online we are able to get customers more for their car and help dealers get the best stock directly with a much better experience. But how do you know if you are a dealer that the car is actually all right if you havent gone to see it . So the seller goes havent gone to see it . So the seller goes through havent gone to see it . So the seller goes through a havent gone to see it . So the seller goes through a detailed | seller goes through a detailed Profiling Process where they take photographs of the car and then we present them with a really detailed profile to allow them to make a really good assessment of the vehicle before placing their bed. Sounds risky though, to me secondhand car sales when you dont actually see it, get inside it and have a test drive . T inside it and have a test drive . ~ , drive . I think this is the challenge drive . I think this is the challenge that drive . I think this is the challenge that we drive . I think this is the challenge that we have | drive . I think this is the challenge that we have faced and i think the whole industry has faced and it is very similar to every other industry prior to its move online, people used to say they would never buy clothes online because they needed to try them on first, and this isjust because they needed to try them on first, and this is just the next, and actually to be honest, the last industry to go through this transition. We actually believe that and we have proven that it actually can be much better to do it online because when profiled correctly, the car gives them a really detailed profile and allows dealers to make a much more measured assessment of the car, so in almost every case, the that is made online with the that is made online with the dealer is a much safer transaction. The dealer is a much safer transaction. We are hearing anecdotal transaction. We are hearing anecdotal evidence transaction. We are hearing anecdotal evidence of transaction. We are hearing l anecdotal evidence of people who, selling secondhand cars, that they are making huge amounts stopping they might buy amounts stopping they might buy a secondhand car and sell it months later for even more. A secondhand car and sell it months laterfor even more. Ht months later for even more. Ut has been an unprecedented year in terms of used car prices. Our own Research Shows that prices have gone up by about 30 from september last year to september this year, and in some cases we are seeing cars sell for higher, used because maybe two or three years old selling for higher than the new equipment of that model. We got to leave it there equipment of that model. We got to leave it there because equipment of that model. We got to leave it there because we to leave it there because we are almost out of time but thank you for getting up early. Tom there of motorway. Interesting, isnt it . Thank you for your company, i will see you soon. Hello there. It certainly has been a cold few days across the uk. But in recent hours, things have been changing more cloud has been rolling its way in from the west, and with that, weve seen some milderair pushing in, these westerly winds bringing those milder conditions for most of us, away from the far north of scotland. So for the majority, Tuesday Morning is starting with a very different Feel Temperatures in liverpool, in plymouth, around 11 celsius. But with that, we have more in the way of cloud, and we have some outbreaks of patchy rain and drizzle. Now, through the day, that cloud should thin and break a little bit to give some sunny spells, particularly across england and wales. And then through the afternoon, well see a band of heavier rain pushing in from the west, getting into parts of Northern Ireland and Western Scotland with strengthening winds. But top temperatures 10 12 celsius in most places it will stay quite chilly in the far north of scotland, just three there in lerwick. Now, through tuesday night, were watching this area of low pressure its likely to deepen a little as it slides across the uk. So, as well as outbreaks of rain, we do have the potential for some quite strong winds. Now, it certainly doesnt look like well see anything as windy as we have over the weekend, but still, the potential for some really strong winds for western coasts, perhaps for parts of Eastern Scotland and northeast england, those gusts could touch gale force in places. Temperatures between 5 9 celsius, so starting to drop away again, youll notice, and that is a sign of things to come on wednesday because the winds will be coming down from the north. And that will reintroduce some relatively cold air probably not as cold as it has been, but yes, a chillier day to come on wednesday. Well see areas of showers, or longer spells of rain pushing southwards, wintery showers even to quite low levels across the northern half of scotland, so some more snow likely to settle here. Temperatures by the afternoon between 3 10 celsius, an increasingly cold feel as we go through the day. Now, we have those northerly winds, they will ease a little as we get into thursday. As this ridge of High Pressure builds in, some Dry Weatherfor a time. And then, this Frontal System pushes in from the west, briefly maybe some snow but, as milder air works in, that will tend to turn back to rain. So, temperatures really up and down this week, quite a chilly day to come on thursday, a slightly milder one likely on friday. Good morning, welcome to breakfast with sally nugent and dan walker. Our headlines. Boosterjabs will be offered to everyone over the age of 18 as part of a push to limit the spread of the Omicron Variant of coronavirus. The spread of the omicron from the spread of the omicron from the spread of the omicron today, facemasks are again from today, facemasks are mandatory again in from today, facemasks are mandatory again in england on Public Transport and in again in england on Public Transport and in shops. What does it mean for transport and in shops. What does it mean for transport providers, retailers, traval transport providers, retailers, Travel Agents . We will speak to them longer sentences for Child Abusers in england and wales, as tonys law becomes a reality. He is an inspiration every day. He never complains, he carries on, no matter what is thrown at him