we look at what that means for global inflation. i'm sally bundock. in many countries around the world everybody is concerned about rising prices. let's start here in the uk, where injust over an hour from now the latest offical inflation figures for december will be released. prices here and across the world have been rising, as supply chains have been hit by the pandemic and energy costs soar. inflation rose to 5.1% in november, that's the highest level the uk has experienced in ten years. one of the main reasons is the rising global price of energy. this has meant higher energy and transport bills for businesses, many of whom pass on the extra costs to customers. our consumer affairs correspondent colletta smith has been up the coast in scarborough, where the family behind an old hotel are having to make tough choices to keep providing warm beds and fresh breakfast. this is a lot of windows. and a huge ceiling. to this is a lot of windows. and a huge ceiling-— huge ceiling. to things that cive this huge ceiling. to things that give this hotel _ huge ceiling. to things that give this hotel charm - huge ceiling. to things that give this hotel charm and i give this hotel charm and character of the very things causing them nightmares. secondary glazing, it spoils the view. right now, obviously, a modern building with lower ceilings and lots of insulation would be much easier to heat. there is an icy wind from the north sea and heating this place jumped north sea and heating this placejumped up in november from £2000 a month to £10,000 a month. we from £2000 a month to £10,000 a month. ~ ., ., . .,, from £2000 a month to £10,000 a month. ~ ., ., . ., month. we have to increase our rices. month. we have to increase our prices- we _ month. we have to increase our prices. we have _ month. we have to increase our prices. we have no _ month. we have to increase our prices. we have no choice - month. we have to increase ourj prices. we have no choice about it. we have to offset the cost. usually in the winter months hotels drop their prices significantly we just cannot do that because there would be no point having the hotel open. but trying to explain that to her customers is not something sadie is looking forward to. there is only price limit that people will pay for a hotel room. people are feeling the squeeze also with that energy prices. squeeze also with that energy rices. ., , ., ., prices. from lights, to heat, to showing _ prices. from lights, to heat, to shopping bills, _ prices. from lights, to heat, to shopping bills, staff- prices. from lights, to heat, to shopping bills, staff are l to shopping bills, staff are feeling the pain of those expensive prices as well. everything is going up and it has to be passed on to us and if we are not earning, which we are not, which you can't when it is quite like this, so i cannot earn.— it is quite like this, so i cannot earn. a . ., cannot earn. as wages are not risin: as cannot earn. as wages are not rising as much _ cannot earn. as wages are not rising as much as _ cannot earn. as wages are not rising as much as prices, - cannot earn. as wages are not rising as much as prices, pay i rising as much as prices, pay packets are not stretching as far. these inflation figures of the first we have on the new year and i would like to give more positive news for 2022 but with the business is passing on those extra costs to us, lots of price rises on the horizon. anyone likejoanne, reassessing the annual finances, anyone likejoanne, reassessing the annualfinances, plans the annual finances, plans might the annualfinances, plans might have to change. we the annual finances, plans might have to change. we were hoinu might have to change. we were heping this _ might have to change. we were heping this year _ might have to change. we were hoping this year we _ might have to change. we were hoping this year we could - might have to change. we were hoping this year we could get . hoping this year we could get account go on and stuff but if these price hikes will continue i do not think that would be an option unfortunately.- option unfortunately. keeping well, whatever _ option unfortunately. keeping well, whatever the _ option unfortunately. keeping well, whatever the weather i well, whatever the weather throws at us has become the new priority. — — keeping warm. joining me now is victoria clarke — uk chief economist at santander corporate & investment banking. we were hearing the reality for many as a prices go up and up. what expecting to hear on the latest inflation numbers? we had inflation _ latest inflation numbers? - had inflation rising fairly rapidly over recent months and we suspect this time we will get a little bit of a pause, albeit a very high 5.1% of inflation. it will not feel much of a post but it feels like inflation will hold at those levels for the next few months and we think in april, when household energy bills see another meeting increase after the rise we have seen in october. the rise we have seen in october-— the rise we have seen in october. ., , ., , the rise we have seen in october. ., i, , october. household energy bills will be going _ october. household energy bills will be going up _ october. household energy bills will be going up in _ october. household energy bills will be going up in april, - will be going up in april, assuming the price which is due to be removed is removed then and there is discussion about what the government might do to help poorerfamilies what the government might do to help poorer families with that challenge but also as well, i will be discussing in a moment the price of oil, it is $88 a barrel. as you say, it does not look like this pressure is going to go away anytime soon. what will the bank of england do next? it what will the bank of england do next? ., , �* do next? it doesn't. our forecast. _ do next? it doesn't. our forecast, based - do next? it doesn't. our forecast, based on - do next? it doesn't. our. forecast, based on current price outlooks so no particular tinkering by the government perhaps other than taking the vat rate out, 6.3% rise in inflation, another big step higher and another headache for the bank of england. the higher inflation gets, the more it stays at high levels, the more it worries gets set into wage demands and inflation locked into the system and contract setting negotiations and that is a worry for the bank of england. if we take energy prices, food prices, the noisy bit out, it looks lower. but it is close to 4%, possibly below this month but that is a high level in itself. and the bank of england is worried that if you knock all of this noise out, inflation is still too high and potentially more pay growth coming through, which could lead to more inflation so the bank of england is going to have to carry on raising rates though we suspect that will look at the pressure of what households are facing but they will not want to move to aggressively because they do not want to choke off the economic recovery.- not want to choke off the economic recovery. with global ener: economic recovery. with global energy prices — economic recovery. with global energy prices heading - economic recovery. with global energy prices heading up - economic recovery. with global energy prices heading up is, i energy prices heading up is, the bank of england may not be as effective anyway. just to say, so much more detail on our website and we get the inflation figures we will update you. let's get some of the day's other news: the judge overseeing puerto rico's restructuring process has approved a debt adjustment plan that will reduce its 135 billion dollars worth of debt. puerto rico filed for protection under a bankruptcy five years ago after struggling with pension payments worth some 55 billion dollars. the debt adjustment plan is expected to go into effect by 15th of march. here in the uk, together energy is the latest supplier to cease trading amid the surge in gas prices. the firm has 176,000 domestic customers, and was part—owned by warrington borough council. the council, spent 18 million pounds on a 50 percent stake in the firm in 2019, said it was "disappointed" the firm had gone under, and the manager of england's football team, gareth southgate, is looking into taking legal action after his name was used to promote a cryptocurrency scam. a mass email claimed that southgate has gained substantial wealth using a crypto trading platform. a spokesman for southgate said, "the email was untrue'. now here's a story that is shaking—up the gaming industry. microsoft has announced plans to buy activision blizzard in a deal worth $69 billion. if it goes through, it will be microsoft's biggest acquisition in the company's history. the move means the tech giant will take ownership of gaming franchises like call of duty, warcraft and 0verwatch. samira hussain has more from new york. evenif even if you do not know activision by name, you may have heard of some of its most popular games. it was purchased by microsoft and catapults the company into third place in the world of gaming companies. it will help them grow their gaming businesses across mobiles, pcs and consuls along with providing the building blocks for the matter of those, this virtual augmented reality. —— magaverse. but it comes with some baggage, sexual harassment and discrimination were under the spotlight and despite its gaming success, the reputational damage played out on its share price which dropped by almost 30% last year. another possible roadblock up federal regulators who may see this deal as too much power in the gaming industry going to an already immutable technology company. 0nly immutable technology company. only one other company eclipsed microsoft in valuation and that is apple. it seems microsoft is prepared for those hurdles which is why it says it only really expects to close the deal well into 2023. staying in the us, two of the country's largest mobile networks — at&t and verizon — have agreed to postpone the rollout of their new 56 service at some airports. the c—band service, which offers faster speeds and broader coverage, was due to be turned on today but airlines in the us warned the signals could interfere with aeroplane navigation systems. james clayton has more from san francisco. this was a game of high—stakes chicken. a stand—off between telecoms companies and airliners, with the us public stuck firmly in the middle. in the one corner, airliners who said the new 56 frequency due to be rolled out on wednesday would interfere with crucial instruments. they said planes would have to be grounded if masts were switched on near airports. in the other corner, telecoms companies who want to roll out 56 on a frequency that gives lightning fast internet and wide coverage. they've paid a lot of money for the privilege to do so. tomorrow is the deadline. our objective is of course to reach a solution around 56 deployment that maintains the highest level of safety while minimising disruptions to passenger travel. that's what we're working towards. incredibly, though, neither side was blinking. with less than 2a hours to go, cities across america, including here in san francisco, were faced with the prospect of mass groundings of planes and customer chaos. but then the telecoms companies blinked. they released a statement on tuesday saying they wouldn't emit 56 close to an airport, a clear win for the airliners. president biden thanked both verizon and at&t for doing so. but this isn't even close to being over. the delay is only temporary and many have asked how the us got so close, just a few hours away from aviation chaos. james clayton, bbc news, san francisco. a third of us companies based in hong kong say they are struggling to fill senior roles. the american chamber of commerce in hong kong says the city still holds business opportunities for foreign firms but they're facing an ever—increasing set of challenges according to their latest sentiment survey. let's go to our asia business hub — nick marsh is there for us today. this is to do with several factors but covid restrictions plays a part?— plays a part? they all play a art. plays a part? they all play a -art. it plays a part? they all play a part- it was _ plays a part? they all play a part. it was a _ plays a part? they all play a part. it was a bit _ plays a part? they all play a part. it was a bit of - plays a part? they all play a part. it was a bit of a - plays a part? they all play a part. it was a bit of a mixed| part. it was a bit of a mixed bag. if you look at all the challenges firms in hong kong have had to face, pro—democracy, protest, there was a surprising amount of optimism in this survey. more respondents said the business environment was currently good rather than bad but it does not mean everything is fine and dandy in hong kong. but from it. so many headwinds that foreign firms are facing. i picked out a few key stats, the national security law imposed ljy national security law imposed by beijing, a huge 80% of respondents said they had been affected by it, mainly do with things like staff morale and losing employees, people emigrating, leaving the city. and then of course, the really tight covid restriction, the zero covid policy. the bottas are firmly shut. the state the borders. i'm a half foreign workers think they are more likely to leave. same with foreign firms saying they they would move to singapore, 80% said singapore is the biggest rival when it comes to international business. interesting changes. stay with us on bbc news, still to come: no slam dunk for one of the owners of the golden state warriors, as the billionaire's comments on china's uighers cause a social media backlash. donald trump is now the 45th president of the united states. he was sworn in before several hundred thousand people on the steps of capitol hill in washington. it's going to be only america first. america first. demonstrators waiting for mike gatting and his rebel cricket team were attacked with tear gas and set upon by police dogs. anti—apartheid campaigners say they would carry on the protests throughout the tour. they called him the 'butcher of lyon'. klaus altmann is being held on a fraud charge in bolivia. the west germans want to extradite him for crimes committed in wartime france. there, he was the gestapo chief klaus barbie. millions came to bathe as - close as possible to this spot. a tide of humanity that's believed by officials - to have broken all records. this is bbc world news, the latest headlines: british prime minister boris johnson faces mounting pressure from his own mps over doubts about his leadership. a warning from america that russia could attack ukraine "at any point". moscow denies the build up of troops at the border is a prelude to invasion. more now on our top story and the cost of living and how soaring energy costs are fuelling rising prices. well, this week the price of oil has surged to a 7—year high as traders worried that an attack on a fuel storage facility in the middle east could affect supply. on tuesday, a suspected drone attack by yemeni houthi rebels in the united arab emirates blew up three fuel tankers. brent crude, is currently hovering around 88 dollars a barrel, with some analysts expecting it to rise towards a hundred dollars soon. joining me now is amrita sen, who's the director of research at energy aspects. good morning and lovely to see you. i asked you last year if you. i asked you last year if you thought oil was headed to $100 a barrel and you said yes. i assume you still think that is coming soon?— i assume you still think that is coming soon? our assumption has been that _ is coming soon? our assumption has been that $100 _ is coming soon? our assumption has been that $100 oil _ is coming soon? our assumption has been that $100 oil will - has been that $100 oil will happen in 2023. that has always been our assumption for a few years, really. but given the range of supply outages that we have seen, ecuador, libya, nigeria and now overnight we had a big pipeline that goes from northern iraqi to turkey, there was a huge blast there and that carries about half a million barrels a day of oil, that has now stopped flowing. these supply outages could just mean that $100 oil come sooner rather than our best guess assumption of 2023. fisdd rather than our best guess assumption of 2023. add to that assumption of 2023. add to that as well the _ assumption of 2023. add to that as well the fact _ assumption of 2023. add to that as well the fact that _ assumption of 2023. add to that as well the fact that with - assumption of 2023. add to that as well the fact that with the - as well the fact that with the 0micron variant looking less concerning and not having such a huge impact on public health as we feared, countries are now reducing restrictions and there will be another surge in global demand. ~ ,,., , will be another surge in global demand. ~ , , ~ will be another surge in global demand. ~ , , �* ~' demand. absolutely. and i think eo - le demand. absolutely. and i think peeple generally _ demand. absolutely. and i think people generally have _ people generally have underestimated the demand side and we have been saying that there is a lot of pent—up demand and people may get worried about $85 oil but if anything, what we see in the data is that many people, particularly in asia, they have been home for almost two years and unable to travel and people's personal income has gone up very, very sharply over the course of the last two years and that is enabling people to travel a lot more now. there is a desire to travel a lot more now, even with high prices and higher airfare and petrol prices. so there is an income effect that we are seeing and, to your point there is a lot of demand to be had at a time when inventory globally is at a record high. spare capacity, opec record high. spare capacity, 0pec does not have much so a mixture of these factors means that there is a lot of upside to oil prices.— to oil prices. there is a lot of short-term _ to oil prices. there is a lot of short-term upside - to oil prices. there is a lot of short-term upside and l to oil prices. there is a lot i of short-term upside and for of short—term upside and for oil companies, they are making good money right now and many argue they need to. they had a tough time at the beginning of the global pandemic. but also they needed for investment, don't they, into the future, renewable energy and how they will make an enormous shift in their business.— their business. and in some wa s their business. and in some ways again _ their business. and in some ways again they _ their business. and in some ways again they can - their business. and in some ways again they can use - their business. and in some ways again they can use the j ways again they can use the proceeds from oil and gas to go greener and many international companies are doing precisely that. the challenge we have is that. the challenge we have is that fossil fuel demand just has not moved. in 1980, 801% of global energy demand was fossilfuels and in of global energy demand was fossil fuels and in 2020 that percentage remained exactly the same. so yes there is a lot of momentum and policies on the supply side, mostly, to move us away from fossilfuel supply side, mostly, to move us away from fossil fuel towards renewables but demand is not shifting fast enough and that is the challenge where companies are not investing in oil and one of the big reasons we call for $100 oil is this exact lack of investment. but, ruickl , exact lack of investment. but, quickly, should _ exact lack of investment. but, quickly, should opec- exact lack of investment. but, quickly, should opec plus - exact lack of investment. but, quickly, should 0pec plus act? should they increase production if we had towards 100 a barrel. we heard the white house and pressure from all sides for opec to do more.- pressure from all sides for opec to do more. opec are already increasing - opec to do more. opec are i already increasing production, they are increasing by 400,000 barrels a day every month. but the thing is not everybody is able to do that due to lack of investment. so it is not as if they have not a lot of extra oil. they have a plan and they will stick to it and the biggest challenge is the spare capacity bottleneck that 0pec has is not very much. capacity bottleneck that opec has is not very much.- capacity bottleneck that opec has is not very much. great to talk to you — has is not very much. great to talk to you and _ has is not very much. great to talk to you and thank - has is not very much. great to talk to you and thank you - has is not very much. great to talk to you and thank you for. talk to you and thank you for your time in talk to you and thank you for yourtime in the talk to you and thank you for your time in the early hours of the morning. we will see you again soon. now do you dread job interviews? if so is it the idea of getting grilled with unexpected questions that you fear? well one founder and chief executive from wales argues businesses have got the interview process all wrong and is trying to change it for her company. take a look at this. so one of my ceos secrets is the traditional interview where you interrogate the interviewee is now dead. it is all about the interviewee asking you the questions and actually interviewing yourself. they feel like they are in control, which they are, and also i think they more relaxed and can be themselves and also open with their personal situations as well stop it has really made us look at this very differently. what i have noticed is that we are attracting a lot more younger and enthusiastic active people coming to join the business and they are evolving. there is also a lot who really want this. just to say i will tweet the story that we have not managed to get around to discussing in this programme, that being the billionaire investor who has been underfire on billionaire investor who has been under fire on social media because he said that most americans do not care about the abuses against the uighur minority. abuses against the uighur minority-— abuses against the uighur minori . ,, , minority. quite interesting aaivin minority. quite interesting giving the _ minority. quite interesting giving the report _ minority. quite interesting giving the report we - minority. quite interesting giving the report we had i giving the report we had earlier on the winter olympics that china is hosting in the shunting province where the uighur minority are based. let's look at markets. wall street had a rough session and that impacts later today. you can see that japan is down significantly. sony is the big loser wishes down 10% at one point because of the microsoft story. not good news for sony if microsoft makes a move. toyota shares down 2% today saying it will miss its production targets yet again due to chip shortages. hong kong is down as well. we've been talking about oil and over $88 a barrel. but let's look at the next screen and what happened on wall street their first trading day of the week, remember, they had a long weekend tech stocks were hit hard. much of this is to do with the thinking that the federal reserve will soon raise interest rate. so the us treasury yields have hit fresh two—year highs in the money is moving in the direction where interest rates will go up in the us, treasury yields are going up but also money is coming out of stocks and that is what happens when the us central bank is poised to raise rates. the money is on the move. thank you for your company, you are now up—to—date on all things news, business and sport. i will tweet more stories as well and we will see you soon. hello. there is lots of dry weather in the forecast for the rest of this week, although many of us will see a little bit of rain through the first part of wednesday, as these frontal systems push southwards across the uk. now, these weather fronts are cold fronts. as the name suggests, the air behind is turning a little bit colder. and i think you'll notice that particularly given the strength of the wind. but the weather fronts will bring some cloud and some outbreaks of showery rain southeastwards across england and wales through the day, tending to fizzle all the while. any fog in the southeast should clear pretty quickly, i think, and then most places are looking at sunshine through the day, albeit with a scattering of showers, some of these wintry, especially in the far north, where we could see snow to quite low levels, particularly in shetland. just1 degree in lerwick in the middle of the afternoon, 9 or 10 further south. and as we head through wednesday night, we'll keep some showers going around northern, eastern and some western coasts. many places will be dry with clear spells, the winds will fall just a little lighter and temperatures will drop, with quite a widespread frost. maybe staying a little bit milder for some of these western parts — 4 degrees there for belfast and for plymouth. now, as we get into thursday, it's looking like a beautiful winter's day for many, with lengthy spells of sunshine. some showers grazing west wales and the far southwest of england, some for north sea coasts as well. temperatures, well, no great shakes, topping out between 4 and 9 degrees in most places. as we head through thursday night and into friday, high pressure really reasserts its influence, the centre of the high across southern parts of the uk. close to the centre of the high, i think it will remain relatively chilly, particularly if we see any fog lingering for any length of time. but up towards the north, we start to bring the winds in from the atlantic, so it'll start to feel a little bit milder. lots of cloud, though, filtering through northern ireland, and particularly into the western side of scotland. further south, some early frost and fog. some of the fog could linger. that will peg the temperatures back. maybe just 5 or 6 degrees in some places, whereas further north and west, 10 there the high in stornoway. and as we look towards the weekend, i think the highest temperatures will be generally across the northern half of the uk, although there will be quite a lot of cloud here and some patchy rain in the far northwest. further south, frost and fog could continue to feature, but it will remain largely dry. good morning, welcome to breakfast with dan walker and sally nugent. 0ur headlines today. the prime minister will set out the next steps to ease england's coronavirus restrictions later today. but first he'll first face mps in the commons as pressure on him to resign over downing street parties intensifies. good morning. here at skipton market they are getting ready for the day ahead as we wait to find out how much average prices the uk for the goods and services we all buy. i will explain what it all means for your of living. veterans who were forced out of the military because of their sexuality have welcomed a review into their treatment. rafa nadal is through at the australian open. could he be the one to stand alone with the most grand slams wins?