we begin in the uk where the chancellor rishi sunak has invited conservative mps to meet him later today to discuss concerns around energy costs for consumers and the cost of living. this comes as pressure mounts on the government to tackle rising energy costs by cutting vat to zero on household energy bills. the labour party that will debate this issue today in the house of commons that would force a parliamentary vote. households and businesses have seen their energy bills rise in recent months as energy suppliers pass on a sharp increase in wholesale gas prices. the crisis could peak in april when millions of families face a rise in the energy price cap. to discuss this i'm joined byjonathan robinson, global power & energy research director at frost and sullivan. good morning to you both. so, it would be interesting today because we have rishi sunak trying, meeting with conservative mps later this evening, on wednesday, trying to get a sense of the way forward and yet you have labour pushing for a cut in vat to nothing. pushing for a cut in vat to nothing-— pushing for a cut in vat to nothinu. ,., ., ., ., ,., nothing. good morning. labour is seeking _ nothing. good morning. labour is seeking to — nothing. good morning. labour is seeking to take _ nothing. good morning. labour is seeking to take a _ nothing. good morning. labour is seeking to take a political. is seeking to take a political advantage by pushing forward a measure that the government was potentially considering already. the problem with the 5% cut for vat on fuel is that everybody does benefit from it so it's not progressive in that sense and also we see energy costs will be rising, we estimate, by 50% in april so it will be a relatively small element in the overall solution that could be available for the chancellor.— that could be available for the chancellor. the chancellor and the promised _ chancellor. the chancellor and the promised us _ chancellor. the chancellor and the promised us saying - chancellor. the chancellor and the promised us saying they i chancellor. the chancellor and l the promised us saying they are looking at many ideas and listen to everyone within this scenario, cost of living is very much at the forefront of everyone's thinking, one other idea is to put a windfall tax on the oil companies in the north sea because many of these companies have seen a steep rise in their earnings, your thoughts on that?- rise in their earnings, your thoughts on that? that is tough because the _ thoughts on that? that is tough because the oil— thoughts on that? that is tough because the oil and _ thoughts on that? that is tough because the oil and gas - thoughts on that? that is tough because the oil and gas that - thoughts on that? that is tough because the oil and gas that we i because the oil and gas that we get is notjust bought from the uk, it's bought from a global market so hard to tell what is being produced where, and for a conservative government in particular, to be effectively taxing success is also going to be difficult for them to do, but they also need to try and look for some way of getting money. i think a windfall tax is more of a reluctant option they would go for. is is more of a reluctant option they would go for.— is more of a reluctant option they would go for. is the more likely scenario _ they would go for. is the more likely scenario likely _ they would go for. is the more likely scenario likely there - likely scenario likely there will be some benefit or help or subsidy for those poorer households in april, when energy price caps are removed and also new taxes come into the four international income? yes, i think national income increases in april will still go ahead. i don't think the chancellor will reverse his position on that. i think we will see some help for hard—hit families and there are some schemes in place around war homes but there has not been a lot done to them in seven years, many people who are still not getting those payments because they are not claiming them properly, so i think they will look to try and tackle that area. i also think they will look to remove some of the social and environmental costs from energy bills and move to general taxation. thank ou for move to general taxation. thank you fervour— move to general taxation. thank you for your analysis _ move to general taxation. thank you for your analysis and - move to general taxation. thank you for your analysis and just - you for your analysis and just to say, to all of you watching, there is so much detail on what is happening with regards to the discussions taking place today between the chancellor and mps but also what is happening in parliament, all of thatis happening in parliament, all of that is on our website, please take a look. more now on novak djokovic, who has been seen practising after winning his appeal against the cancellation of his visa. although the world number one tennis star is being allowed to stay in australia to compete in the australian open, the country's immigration minister still has powers to re—cancel the visa and deport the unvaccinated player. this story has dominated the headlines across the globe since djokovic's arrival in australia — what could it all mean for his sponsors? conservative estimates put his earnings for deals with companies such as lacoste at around £50 million a year. joining me now is nigel currie, director of sports marketing pr and sponsorship agency nc partnership. good morning. do you think sponsors are concerned about what is happening with regards to novak djokovic or will they just ride the storm? i to novak djokovic or will they just ride the storm?— just ride the storm? i think the one thing _ just ride the storm? i think the one thing that - just ride the storm? i think| the one thing that sponsors don't like is controversy and it doesn't get much better than this. when governments get involved, you have a situation that he finds himself in i think he sponsors will be taking a long hard look at things. they certainly don't want him doing anything that is going to damage or reflect on their image. so they will be monitoring the situation very closely and i think it may be a situation where some of them may decide to pull out.- may decide to pull out. when ou sa may decide to pull out. when you say doesn't _ may decide to pull out. when you say doesn't get _ may decide to pull out. when you say doesn't get much - may decide to pull out. when i you say doesn't get much better than this, you could argue, yes it does in the case of oscar pistorius or tiger woods where the controversy surrounding the individual is very, very different, to say with what is happening with novak djokovic. i think this story and situation is an extreme one of course but this story has been going on for many days now and doesn't seem to go away and it's a bit like a political story. once it's been around for as long as it has been, it starts to look like there is more to it than meets the eye. at some point, someone has to either kill the story, ory has to front up and make some sort of statement otherwise people will still keep speculating —— or he has to. i will still keep speculating -- or he has to.— or he has to. i suspect it will become _ or he has to. i suspect it will become tightlipped - or he has to. i suspect it will become tightlipped until- or he has to. i suspect it will become tightlipped until the j become tightlipped until the immigration minister makes a decision on whether his visa will be revoked again and it could be for three years, which for a 34—year—old player, who is really successful at the australian open, this could be a severe blow in terms of his future winnings, future earnings and record—breaking potential and what sponsors may think about next? that potential and what sponsors may think about next?— think about next? that is riuht. think about next? that is right- he _ think about next? that is right. he is _ think about next? that is right. he is in _ think about next? that is right. he is in love - think about next? that is right. he is in love with l think about next? that is l right. he is in love with the australian open, he has one nine times and have a great chance to become the all—time leader in terms of grand slams because of the absence of other players, —— won, he is desperate to take it, he is 3a and time is against him and a ban will finish his association with australia and what has been one of the most successful runs in tennis history and that then impacts on his sponsors because, you know, he has not got the same profile, the same profile as he had done if you are not playing in all the majors. are not playing in all the majes— are not playing in all the ma'ors. . ., ~ , are not playing in all the ma'ors. . . ~ , ., majors. we are all keeping a close eye. — majors. we are all keeping a close eye, and _ majors. we are all keeping a close eye, and thank - majors. we are all keeping a close eye, and thank you - majors. we are all keeping a close eye, and thank you for| close eye, and thank you for being on the programme with your thoughts on the sponsorship situation. what is company policy when it comes to staff who are unvaccinated ? well, it's becoming a trend that those who need to self—isolate because of covid exposure are seeing their sick pay cut. that's the case for uk workers at ikea. from this week, sick pay cuts will also be implemented at wessex water and in the us several major companies have started penalising unjabbed workers. it comes as firms struggle with mass staff absences and rising costs. victoria scholar is head of investment at interactive investor. it is interesting to see how companies, some of them have a very zero tolerance policy when it comes to staff who are unvaccinated while all this debate is going on globally about novak djokovic! about novak d'okovic! yes, if ou take about novak d'okovic! yes, if you take the — about novak djokovic! yes, if you take the example - about novak djokovic! yes, if you take the example of- about novak djokovic! yes, if| you take the example of ikea, it is a significant difference for workers who get around £100 for workers who get around £100 for a week of pay, unvaccinated, through sick leave compared to around £400 for vaccinated staff. we are entering into the third year of the pandemic and businesses are desperately trying to get back to normality after a very difficult period. certain sectors are clearly hit hard, particularly bricks and mortar retail stores like ikea and there are a whole host of cost pressures already. figs there are a whole host of cost pressures already.— there are a whole host of cost pressures already. as you say, it is a difficult _ pressures already. as you say, it is a difficult balancing - it is a difficult balancing act, isn't it, for companies, to get the policy right because no company wants to be seen as forcing anyone to do things they may not want to do when it comes to medical issues?- comes to medical issues? yes, and this is _ comes to medical issues? yes, and this is why _ comes to medical issues? yes, and this is why it _ comes to medical issues? yes, and this is why it is _ comes to medical issues? yes, and this is why it is a _ comes to medical issues? yes, and this is why it is a very - and this is why it is a very very sensitive issue and clearly a major challenge for businesses need to tread carefully because on the one hand clearly it is a way to encourage individuals to get the vaccine which would help the vaccine which would help the public health risk and covid—19 and on the other hand it's important to consider the knock—on impact which could be the individuals failing to follow the rules and failing to self isolate and that could actually exacerbate the risk. indeed. we will keep a close eye on what other companies do next. victoria, thank you. let's get some of the day's other news: so far, not so good for cryptocurrencies in 2022. bitcoin has dropped below $40,000 for the first time since september. it bounced back slightly in the following hours, but it's still trading around 40% below its peak in november. india has reached an agreement with washington to allow us pork into the country for the first time. it follows a recent deal to allow indian mangoes and pomegranates to get market access to the us. it is one of india's largest trading partners, but till now pork imports have been banned. the vice chairman of the us federal reserve is resigning on friday. richard clarida's term only expires at the end of this month, and no details on why he's stepping down but he has been facing scrutiny over his financial transactions during the onset of the pandemic. mr clarida was a key aide to fed chairmanjerome powell and his resignation comes at an awkward time. mr powell has been renominated to his position by president joe biden, and is set to face lawmakers in a confirmation hearing later today. to new york now where michelle fleury has more details on what we can expect. jerome powell's second term is not in doubt but before he can be confirmed, he must first face a grilling from lawmakers. top of their minds, what does the fed reserve planned to do to contain inflation? when jerome powell appeared before them during the summer he told them during the summer he told them it would be a mistake to react to one—time price increases in items such as used cars but by the end of the year his tune had changed and in fact to tame inflation american central bank has now pencilled in three rate hikes this year, hinting they could move as early as march. head of that, the fed reserve is shrinking boland holdings, the central bank brought up bonza during the pandemic to help stimulate the pandemic to help stimulate the economy — a shrinking bonds. why the shrinking policy? unemployment has fallen while wages have gone up and unlike vehicles, these are not one of price hikes. given this backdrop, expect a lot of questions from lawmakers about the state of policy and where it is headed. this is a delicate moment for the us economy. act two fast and the fed could choke off the nation's recovery but with inflation already eating into peoples' cost of living, failure to do and also poses real risks. forjerome powell's second term he will need the right policy and a good dose of luck to ensure a smooth landing for the world's largest economy. markets are watching that very closely indeed! stay with us on bbc news, still to come: non—fungible tokens — collectibles orjust the latest fad in the world of crypto? a special report from delhi ahead. day one of operation desert storm to force the iraqis out of kuwait has seen the most intense air attacks since the second world war. tobacco is america's oldest industry, and it's one of its biggest, but the industry is nervous of this report. this may tend to make people want to stop smoking cigarettes. there is not a street that is unaffected. l huge parts of kobe were simplyl demolished as buildings crashed into one another. this woman said she'd been given no help _ and no advice - by the authorities. she stood outside the ruins of her business. j tens of thousands of black children in south africa have taken advantage of laws, passed by the country's new multiracial government, and enrolled at formerly white schools. tonight sees the 9,610th performance of her long—running play, the mousetrap. when they heard of her death today, the management considered whether to cancel tonight's performance, but agatha christie would have been the last person to want such a thing. this is bbc world news, the latest headlines: a man in the us becomes the first person to have a heart transplant from a pig — raising hopes of a solution to the shortage of organ donors. an anxious wait for novak djokovic as australia's immigration minister considers revoking his visa ahead of the australian open. from bollywood actors to cricket stars, nfts — or non—fungible tokens — are attracting many big names in india. and while the jury may still be out on whether this form of digital art makes a good investment, for young artists it's a way to reach a larger audience as devina gupta has been finding out in from delhi. it was during last year's lockdown when this 14—year—old started experimenting with coding and her art. started experimenting with coding and herart. she started experimenting with coding and her art. she posted out online as a non—fungible token, or nft. these are digital tokens that can be thought of as certificates of ownership for virtual or physical assets. the buyer paid her in cryptocurrency worth $1200 this past may. {311 her in cryptocurrency worth $1200 this past may. on nfts i am able to — $1200 this past may. on nfts i am able to bring _ $1200 this past may. on nfts i am able to bring and _ $1200 this past may. on nfts i am able to bring and take - $1200 this past may. on nfts i am able to bring and take my l am able to bring and take my art toa am able to bring and take my art to a global level where right now today i have around 70 collectors from 70 different countries. so from canada to australia, to prague.- australia, to prague. also takinu australia, to prague. also taking advantage - australia, to prague. also taking advantage of - australia, to prague. also taking advantage of this i australia, to prague. also taking advantage of this access to a bigger market this 29—year—old. he has created software which is artificial intelligence to create nfts like these which rn high demand. i like these which rn high demand-— like these which rn high demand. ., ~ ., . ., demand. i work with artificial intelligence _ demand. i work with artificial intelligence artworks - demand. i work with artificial intelligence artworks that - demand. i work with artifician intelligence artworks that are interactive and major oil paintings, all different types of media explorations, to sort of media explorations, to sort of engage the audience in a conversation about their immersion in technology. he has collaborated _ immersion in technology. he has collaborated with _ immersion in technology. he has collaborated with other - immersion in technology. he has collaborated with other artists i collaborated with other artists who create nfts which have sold for more than $1,000,000. but nfts for more than $1,000,000. but nfts have become a hot commodity in india. celebrities like bollywood actor salman khan and cricket stars have created their own nfts. but many are cautious about the hype. i many are cautious about the h e. ~ , ., many are cautious about the h ne. ~ ,. . ., , hype. i think it is a dangerous lace to hype. i think it is a dangerous place to be — hype. i think it is a dangerous place to be at. _ hype. i think it is a dangerous place to be at, and _ hype. i think it is a dangerous place to be at, and all- hype. i think it is a dangerous place to be at, and all this - place to be at, and all this predates some sort of correction and markets. there is another _ correction and markets. there is another risk. _ correction and markets. there is another risk. india - correction and markets. there is another risk. india is - is another risk. india is introducing new laws to regulate dough currencies. nfts are to complete —— typically paid for using cryptocurrency, and governments plans to issue its own digital currency and ban private cryptocurrency could undermine how nfts are bought and sold india. but for now these young artists are hoping to create their own nfts and defined the digital art market in india. last year brixham fish market in south devon beat all previous records, and its projections for 2022 are even bigger. despite dire predictions on the impact of both brexit and the pandemic on the uk's fishing industry, brixham fish market has posted record—breaking sales figures. more than £43 million worth of fish was landed in the port's best—ever year. brixham says diversification and preparation is the key to the success — and is planning an even bigger 2022. joining me now is barry young, managing director of brixham trawler agents. good morning to you, thank you for being on the programme. you have experienced a bumper year, 2021, this year is looking even better. how have you pulled this off? i better. how have you pulled this off? ~ ., , this off? i think it was preparation _ this off? i think it was preparation for - this off? i think it was | preparation for brexit, this off? i think it was - preparation for brexit, and having a good team around you, and just what we decided to do was bring more fish into brixham and be a central hub for around the country. so talk us through _ for around the country. so talk us through the _ for around the country. so talk us through the logistics - for around the country. so talk us through the logistics of - us through the logistics of that. because i understand as well, new technology has helped you hugely, where buyers are able to buy in a more effective, efficient way. first off we started _ effective, efficient way. first off we started going - effective, efficient way. first off we started going to - off we started going to fishermen throughout the country, up the east coast as far as wales and bringing the fish back to the harbour. so rather than having hubs further away from brixham, we invested heavily into an online clock auction where buyers can buy from the comfort of their own home. it meant they didn't have to come to the marketplace, which really helped us out in covid as well, though we were really well prepped for brexit, because that was the idea for the european buyers to buy abroad, and then covid hit us, and we were stuck against the wall really, and loaded —— loads of hurdles coming against us, so what it meant was the buyers didn't have to come to the market, and like i said, they could buy from the comfort of their own homes and we were just transported to them from brixham. it just transported to them from brixham. ., ,., ., ,., brixham. it also from the point of view of. _ brixham. it also from the point of view of, when _ brixham. it also from the point of view of, when you _ brixham. it also from the point of view of, when you say - brixham. it also from the point of view of, when you say you . of view of, when you say you provided a hub where you are in south devon for other companies across the country, it means they aren't trying to deal with all the new red tape, all the new paperwork that has been really difficult and confusing for some — you have prepared for some — you have prepared for that, you have tackled it well, so you are providing a means for them to crack on with fishing and moving their fish without having to deal with the paperwork, is that correct? that's correct. obviously the boats up the east coast, they used to export their fish across to belgium options on a daily basis, and because there was so much red tape for them, they couldn't do that anymore. —— belgium auctions. we put into place so they could do that. into place so they could do that, , ., ., into place so they could do that. ., ., , that. so you are actually exoanding. _ that. so you are actually expanding, you - that. so you are actually expanding, you are - that. so you are actually l expanding, you are seeing business booming which is a fantastic story, isn't it, given the narrative that is out there with regard to fishing, with regard to brexit. i would sa it is with regard to brexit. i would say it is a _ with regard to brexit. i would say it is a great _ with regard to brexit. i would say it is a great success - say it is a great success story, but i would also say that there has been massive expense and administration that the industry has undertaken. but all in all, we are a massive success story. 50 but all in all, we are a massive success story. so for the year _ massive success story. so for the year ahead, _ massive success story. so for the year ahead, for _ massive success story. so for the year ahead, for the - massive success story. so for| the year ahead, for the fishing industry, are you optimistic? i am optimistic, i've got to be an optimist, the ones at the top of the tree are in brixham, and i am optimistic for the year ahead. and i am optimistic for the year ahead-— and i am optimistic for the ear ahead. �* 1, , ., year ahead. and barry, i have to ask you. — year ahead. and barry, i have to ask you. i _ year ahead. and barry, i have to ask you, i think _ year ahead. and barry, i have to ask you, i think you - year ahead. and barry, i have to ask you, i think you are - year ahead. and barry, i have| to ask you, i think you are the first person i have interviewed that you have to be at work at 3am, that you have to be at work at sam, is that correct? hat that you have to be at work at sam, is that correct? not every morning. _ sam, is that correct? not every morning. i _ sam, is that correct? not every morning. i only _ sam, is that correct? not every morning, i only had _ sam, is that correct? not every morning, i only had to - sam, is that correct? not every morning, i only had to come i sam, is that correct? not every morning, i only had to come in| morning, i only had to come in at 3am to speak to you. filth. morning, i only had to come in at 3am to speak to you. oh, ok! laughs. at 3am to speak to you. oh, ok! laughs- i _ at 3am to speak to you. oh, ok! laughs. | thought _ at 3am to speak to you. oh, ok! laughs. | thought you - at 3am to speak to you. oh, ok! laughs. i thought you started l laughs. i thought you started your work day at 3am, and i was going to say, same as me. we appreciate you getting up early to be on the programme and it is good to hear a good news story in fishing as well. thank ou ve story in fishing as well. thank you very much- _ story in fishing as well. thank you very much. i _ story in fishing as well. thank you very much. i will- story in fishing as well. thank you very much. i will find - you very much. i will find someone _ you very much. i will find someone one-day - you very much. i will find someone one-day who . you very much. i will find - someone one-day who starts the someone one—day who starts the day the same time as me. in china, the embattled property giant evergrande has vacated its headquarters in shenzhen. the company said it's moving to another building it owns within the city to save on rent. meanwhile another major developer has been downgraded by credit ratings agencies. our asia business reporter nick marsh is following the story from singapore. this is such a headache, tell us what is going on now. it is a new year _ us what is going on now. it is a new year and _ us what is going on now. it is a new year and there - us what is going on now. it is a new year and there is - us what is going on now. it 3 a new year and there is new problems for the chinese property sector. so many firms facing so many issues, evergrande, like you mentioned, another one, shimao are facing all kinds of problems. they were known as one of the healthier chinese operative firms until very recently, they had what is known as an investment grade rating, but they have just been drastically downgraded by international credit rating agencies after they defaulted on a $100 million trust loan repayment. so they put all the properties up so they put all the properties up for sale as they scramble to raise a bit of cash, and it seems that no firm is safe in this crisis. then of course you have ever granted, the saga continues, yesterday like you mentioned —— evergrande. they had to leave their headquarters buildings in shenzen, find a cheaper office in another part of town because ironically, they couldn't afford the rent. they still owe $300 billion to all kind of lenders around the world, this week theyjust managed to push back another crucial deadline for an onshore bond repayment to thursday. if they missed that, that would be a big deal because as of now they have not yet defaulted on a domestic chinese repayment, missing that would cause all kinds of problems. then you have so many other smaller property firms in china, too many to mention really, i'm just going to say that this week alone, firms in the chinese property sector need to make a total of $1.5 billion in repayments, this week alone. and everyone is looking at the chinese government, because it was their decision to impose curbs on borrowing for these firms, which in part to precipitate this crisis in the first place, so everyone is asking, other going to step in? and if so, how far are they willing to step into and abate this crisis.— this crisis. thank you nick marsh, with _ this crisis. thank you nick marsh, with the _ this crisis. thank you nick marsh, with the latest - this crisis. thank you nick marsh, with the latest on | this crisis. thank you nick - marsh, with the latest on that. that is impacting markets in asia, certainly injapan and hong that is impacting markets in asia, certainly injapan and hong kong. that is impacting markets in asia, certainly injapan and hong kong. also that is impacting markets in asia, certainly injapan and hong kong. also markets that is impacting markets in asia, certainly injapan and hong kong. also markets today very focused on that hearing, jerome powell speaking later. hello. after a fairly grey, drizzly sort of day on monday, more places will see the sunshine on tuesday. clearer air is working its way south across the uk behind this cold front here, which is only slowly pushing southwards. so we've still got quite a lot of cloud around. the cloud and drizzle will slowly clear southwards through the day, so a reappearance of sunshine from the north, but some of us will hold onto the cloudy drizzly conditions all day in the far south. so we start off with quite a contrast in temperature, mild towards the south, but temperatures a few degrees either side of freezing first thing for scotland, northern ireland and the far north of england as well. this is how tuesday is looking then — you can see the clearer skies for much of the uk as this band of cloud and drizzly patchy rain sink south. a bit of mist and murk particularly around coasts and hills for southern england and south wales too, lasting all day. but mild here, 10—11 celsius, in the clearer, sunny skies, between about 6—9 celsius, a few showers just rattling in across the north and west of scotland. through tuesday evening and overnight now into wednesday, eventually, we will lose that cold front, that band of cloud and drizzle from the south. so clearer skies for all as we move on into wednesday morning. breezy in the north and milderair here, double figures overnight. but further south, we are likely to see a frost to start your wednesday morning. so moving through wednesday, then, once we have lost that cold front, we've got high pressure building really across the uk, so that's going to bring a lot of dry and settled weather. but a change in temperature because this milder air is coming in from the south—west around the top side of that high pressure, so moving into northern parts of the uk. further south, we're sitting under the colder air. so, really, from mid—week onwards, we've got a bit of a split. it's mild and breezy in the north, whereas further south, colder with some fog patches that could linger for quite a time. that's how wednesday looks, then we've got the cloudier, breezier conditions across parts of scotland in particular. fog patches further south, it will slowly clear away, and then a lot of dry and sunny weather. we've always got that bit more cloud and a few showers in the far north—west. here, 11 degrees for stornoway, and about 7 degrees or so for london. and a few places could struggle where we keep that fog. through the day on thursday, some of that fog could be quite extensive and slow to clear across parts of england and wales too. breezy and cloudy in the far north—west, plenty of sunshine elsewhere, but we could see those lingering fog patches all day for a few areas. bye— bye. good morning, welcome to breakfast with nina warhurst and dan walker. our headlines today. a "bring your own booze" party in the garden of number ten the height of the first lockdown. the prime minister faces fresh anger over claims he broke the rules. borisjohnson, having survived covid himself, thought it was appropriate to host a party where you could bring your own booze, sit in the garden in downing street where borisjohnson met me and four other bereaved families and told us to our faces, after listening to my dad's story, "i did everything i could to save him". the metropolitan police say they are in contact with downing street over the alleged breaches of covid rules. also on breakfast. a man in the united states becomes the first person in the world