Transcripts For BBCNEWS World Business Report 20240708 : com

Transcripts For BBCNEWS World Business Report 20240708



more now on our top story, and america's top diplomat has warned against imposing sanctions against russia too early, over its threats towards ukraine. the ukrainian president has called for sanctions to be imposed now, but the us secretary of state said that could have a detrimental effect. russia denies it's planning any invasion, but it has seized ukrainian territory before and it has an estimated 100,000 troops deployed near its borders. president biden has threatened russia's leader with measures "like none he's ever seen" if ukraine is attacked. so what would they involve? the ultimate economic hit would be to disconnect russia's banking system from the international swift payment system, effectively cuting the country off from the global economy. another key threat is to prevent the opening of russia's nord stream 2 gas pipeline in germany, and approval for that is currently being decided by germany's energy regulator. there could also be measures targeting russia's sovereign wealth fund or restrictions on banks converting roubles into foreign currency which would hurt the country's ability to operate in financial markets. speaking to american television, the us secretary of state, antony blinken said imposing sanctions now would undercut the west's negotiating position. the most important thing we can do is to use them as a deterrent, as a means of dissuading russia from engaging in further aggression. dissuading russia from engaging infurtheraggression. 0nce in further aggression. 0nce sanctions infurtheraggression. 0nce sanctions are triggered, you lose the deterrent effect. so what we are doing is putting together a whole series of actions that would figure into president putin's calculus. let's talk this through. a very warm welcome to the programme. we are hearing there from anthony lincoln, you know, not to impose sanctions right now, ukraine is calling from that, your thoughts on what the next move should be? —— antony blinken. move should be? -- antony blinken-— blinken. antony blinken is absolutely _ blinken. antony blinken is absolutely right, - blinken. antony blinken is absolutely right, it - blinken. antony blinken is absolutely right, it would l blinken. antony blinken is l absolutely right, it would be ridiculous to impose sanctions now, because then the west has shot its bolt. you have to impose sanctions in response to something russia actually does. but also leads towards what is called the nuclear option, cutting russia off from the swift payment system in response to what could initially be a minor russian incursion, as the us congress is proposing. but also means expending all of our ammunition in advance. of course, the big question is whether a good many european countries can afford this nuclear option of cutting russia off from swift at all. because it would mean they couldn't pay for russian gas, and then of course russia would not supply the gas, and then europe would be in, not a fatal energy crisis, but certainly a very major energy crisis. very ma'or energy crisis. some miaht very major energy crisis. some might argue — very major energy crisis. some might argue that _ very major energy crisis. some might argue that europe - very major energy crisis. some might argue that europe is - might argue that europe is already grappling with its energy crisis, in the uk we have seen many companies go bust because of soaring gas prices. to what extent does that play a part in all of this, with the politics in regards to ukraine and russia? because many would argue russia has been able to hold europe to ransom. ~ , , ., ., ransom. well, yes. to a degree. but then again, _ ransom. well, yes. to a degree. but then again, of _ ransom. well, yes. to a degree. but then again, of course, - but then again, of course, russia needs the money. the putin government and the russian economy are highly dependent on gas revenues. so this would be, also, a very grave blow to russia. a blow to europe as well. so this obviously is why there are still attempts... obviously is why there are still attempts. . ._ obviously is why there are still attempts... but how far do ou still attempts... but how far do you think _ still attempts... but how far do you think the _ still attempts... but how far do you think the west - still attempts... but how far do you think the west and i still attempts... but how far. do you think the west and the us will go? president biden is threatening measures that vladimir putin has never seen before, which implies the swift payment system could be impacted, the nuclear button, as you describe it. if they don't do something significant, could be argued that financial sanctions, imposed on in the past, one they annexed crimea, that hasn't changed what russia has been doing?— has been doing? well, no. and if russia decides _ has been doing? well, no. and if russia decides to _ has been doing? well, no. and if russia decides to invade, - if russia decides to invade, thenit if russia decides to invade, then it will do so in the expectation of this damage. but remember, the consensus is, russia has not decided to invade yet. there is still room for compromise. so the question also becomes, can america basically, because europe is totally divided, you know, come up totally divided, you know, come up with compromise proposals that russia could accept? and then they would in fact been no new crisis? there is still room for agreement, after all. new crisis? there is still room foragreement, afterall. us intelligence believes that the russian government has not yet decided on a full—scale invasion. and many proposals have been made for such compromise, including for example a moratorium on nato motion stop thank you for your analysis and time, we will have to leave it there. it analysis and time, we will have to leave it there.— to leave it there. it is an ongoing _ to leave it there. it is an ongoing scenario, - to leave it there. it is an ongoing scenario, and l to leave it there. it is an | ongoing scenario, and as to leave it there. it is an - ongoing scenario, and as we have already mentioned, it is our top story online, so there is more detail there as well. the debate over covid mandates is heating up in the us. some financial giants like citigroup and jp morgan chase have told their employees they'll be out of a job if they don't get the jabs, or receive a religious or medical exemption. but some workers are walking away from theirjobs, saying the new rules have gone too far. samira hussain reports from new york. daniel thornton is a married mother of four. —— danielle. she lives in missouri, and for the last eight years worked remotely out of the investment firm citigroup. it was a job she loved and a company she believed she would retire with. but an email from believed she would retire with. but an emailfrom hr made it clear she had to make a choice. at the covid vaccine or lose herjob. what was it like for you, to get that email? shocking, to say the least. i actually remember receiving the email, i was sitting in our school line pickup, and the email came across and the email and ijust... i had no words to describe it, i was completely shocked. , ., ., describe it, i was completely shocked. ., ., shocked. citi is one of a growing _ shocked. citi is one of a growing number - shocked. citi is one of a growing number of - shocked. citi is one of a - growing number of businesses, about a third of the country's just companies, that are telling employees to get the shuttle get fired. the bank said no to an interview with the bbc but said in a statement that 99% of its staff have complied. danielle is in the minority. vaccine mandates are seen as a key motivator to get the almost 40% of americans that have not yet got the shot to do so. many believe being forced to take the vaccine goes against the fabric of this country, and its ideals on freedom and privacy. protecting privacy is what is driving eli klein. he runs an art gallery specialising in works from china, although required by the state of new york to ask customers buttocks nation status, he refuses to comply. clients are other people to visit my gallery have an expectation of anonymity, and that expectation is completely violated if myself or someone on my team demanded their identification and vaccination credentials.— identification and vaccination credentials. ,, , ., credentials. the supreme court has also weighed _ credentials. the supreme court has also weighed in _ credentials. the supreme court has also weighed in on - credentials. the supreme court has also weighed in on vaccine l has also weighed in on vaccine mandates, ruling the federal government cannot force them on private companies. though it was more tolerant of firms issuing directives on their own. ultimately, freedom to chooseis own. ultimately, freedom to choose is what drove danielle to leave herjob. she now calls herself a stay at home mom, she herself a stay at home mom, she her next move. samira hussain bbc news, new york. in the uk, retailerjohn lewis says all staff are entitled to full sick pay for covid—related absences, regardless of vaccination status, and it would not be "right" to differentiate. it comes after other retailers in the country, next, 0cado and ikea revealed they are only paying the legal minimum to unjabbed staff if they have to isolate due to covid exposure. in england, unvaccinated people must isolate for 10 days if they are a close contact of someone with covid, even if they do not test positive themselves. but this has resulted in unvaccinated workers being more likely to take time off than their fully vaccinated colleagues, who no longer need to isolate in this situation. let's stick with covid vaccinations because france is introducing new rules on accessing cafes, cultural venues and long—distance transport. from today only people who can show they are fully vaccinated will be allowed to board intercity trains or eat lunch inside a restaurant. until now, unvaccinated customers had the option of presenting a negative covid test. joining me now from paris isjeremy ghez, co—director of the hec paris center for geopolitics and professor of economics. good morning to you. good morning- — good morning to you. good morning- we _ good morning to you. good morning. we know - good morning to you. good morning. we know that - good morning to you. good j morning. we know that this good morning to you. good - morning. we know that this has been a very _ morning. we know that this has been a very unpopular- morning. we know that this has been a very unpopular mood . morning. we know that this has been a very unpopular mood in | been a very unpopular mood in france, and wejust been a very unpopular mood in france, and we just saw a report from our correspondent in berlin earlier, jenny hill, a similar scenario unfolding there. talk us through how this week will go, with these new rules in place? it week will go, with these new rules in place?— rules in place? it is an interesting _ rules in place? it is an interesting bat, - rules in place? it is an interesting bat, a - rules in place? it is an| interesting bat, a risky rules in place? it is an - interesting bat, a risky bet that president macron is taking right now. —— bet. the executive branch is taking it, it seems they are betting there is a silent majority in france which she yearns for normality and who will basically support this. i am also guessing that as the weather heats up and coming weeks, hopefully, that the covid wave will dial down, and that this may only be a bad memory to many french people, and i think with the elections coming up in may, they are hoping this will create the best political climate for the elections. it best political climate for the elections-— elections. it is interesting, because — elections. it is interesting, because what _ elections. it is interesting, because what happens - elections. it is interesting, because what happens in l elections. it is interesting, l because what happens in the election is often a reflection of how the economy is doing, how well off people feel, how secure, safe, et cetera. as you say, may isn't far away at all. in france, many people are vaccinated, aren't they? fully vaccinated, aren't they? fully vaccinated, so only a small minority are impacted by these changes? minority are impacted by these chances? ., , minority are impacted by these chanes? . , . , changes? that is actually correct. _ changes? that is actually correct, even _ changes? that is actually correct, even those - changes? that is actually| correct, even those might changes? that is actually - correct, even those might be able to get a pass if they have evidence that they have had covid, in the past. so 11 days after they still get the past. so this bet might actually work out. it is still incredibly risky, we have seen in the past our opposition can be strong to emmanuel macron, especially when this contradicts what he has been saying since the beginning of the pandemic, and we have also seen over the weeks and months however minority can take hold of the political agenda in the country. take the lms movement, for instance. so it is still a risky bet, hoping indeed that this creates optimism and a positive dynamic for the executive branch right now, and this government. indie executive branch right now, and this government.— this government. we shall keep a close eye _ this government. we shall keep a close eye for _ this government. we shall keep a close eye for now. _ this government. we shall keep a close eye for now. thank - this government. we shall keep a close eye for now. thank you | a close eye for now. thank you for your time this morning. hong kong—based airline cathay pacific airways is continuing to feel the effects of covid lockdowns. the international carrierjust released their latest set of results. the airline says it's bottom line is being hit as it spends more cash to deal with stricter quarantine measures. joining me now from singapore is our business reporter nick marsh. we not expecting good news from cathay pacific, and they delivered?— cathay pacific, and they delivered? ., ., , cathay pacific, and they delivered? . ., , ., delivered? yeah, there was a tin bit delivered? yeah, there was a tiny bit of— delivered? yeah, there was a tiny bit of good _ delivered? yeah, there was a tiny bit of good news - delivered? yeah, there was a tiny bit of good news but - delivered? yeah, there was a tiny bit of good news but if. tiny bit of good news but if you look at a longer term to ensure it is all bad news for cathay pacific. the small bit of bad news was that 2021 was not as bad as expected. they lost about $750 million compared to the analysts buzz forecasts of $1.3 billion. a small bit of comfort, i suppose. heavy cost—cutting under strong demand for cathay pacific cosmic cargo business as well, but helped matters. they managed to turn a profit on the second half of 2021, but thatis on the second half of 2021, but that is really all the good news for cathay pacific. they say that in 2022 they expect to lose 130 a month, we all know the reason why hong kong is effectively shut, it is very difficult to get into the city, unless you are coming from china, because of those covid restrictions. if you do manage to get into the city you face potentially weeks of quarantine. pilots at cathay pacific are also leaving and our drives, and some of them are complaining about the perpetual state of lockdown they find themselves in. they fight with city and have to quarantine in a hotel there, they fly back to hong kong, quarantined air, fire to another city, hotel quarantine, so on and so forth. recruitment will be a big issue for them as well. cathay pacific is operating at 2% of its pre—pandemic capacity. it is an incredible figure, really. compared to somewhere like singapore, which did have some quite tight border policies as well, but is now starting to slowly resume international travel for vaccinated passengers, and singapore airlines are now saying that they expect to hit about 50% of they expect to hit about 50% of the pre—pandemic capacity in january and february and it is a really big difference.- a really big difference. yeah, it is a huge — a really big difference. yeah, it is a huge difference, - a really big difference. yeah, it is a huge difference, that l it is a huge difference, that is for sure. let's get some of the day's other news. we keep being told, the meta— verse —— metaverse is the next big thing. i'm sure many of you are asking that. we will look at how it could change everything, from the way we work to how we socialise to how we even a job interview. all that and more to come in a moment. the shuttle challenger exploded soon after liftoff. there were seven astronauts on board, one of them a woman school teacher. all of them are believed to have been killed. by the evening, tahrir square, the heart of official cairo, was in the hands of the demonstrators. they were using the word 'revolution'. the earthquake singled out buildings and brought them down in seconds. tonight, the search for any survivors has an increasing desperation about it as the hours pass. the new government is firmly in control of the entirely republic of uganda. survivors of the auschwitz - concentration camp have been commemorating the 40th anniversary of their- liberation. they toured the huts, - gas chambers and crematoria and relived their- horrifying experiences. this is bbc world news, the latest headlines: the united states has ordered the families of its diplomats in the ukrainian capital, kyiv, to leave the country. intense gunfire has been heard in the capital of burkina faso amid unconfirmed reports of a coup. a major uk investment fund says it will vote to try to get directors kicked out of firms that fail to make good on environmental pledges. aviva investors — which has more than $350 billion of assets under management — also wants bosses�* pay to be linked to sustainability goals. it is the latest big investment firm to ramp up the pressure on corporations in a bid to make them clean up their acts. joining me now to discuss this is a man that knows all about investing, justin urquha rt—stewa rt, co—founder of seven investment management. good morning to you! this is not new news in a way because aviva has been pretty proactive when it comes to asking those that invest into do ethical investment. lip that invest into do ethical investment.— that invest into do ethical investment. , ., investment. up until now we haven't really _ investment. up until now we haven't really seen - investment. up until now we haven't really seen major- haven't really seen major action. a lot of words going on and we need to deal with the e56, and we need to deal with the esg, environmentaland esg, environmental and sustainable governments. esg, environmentaland sustainable governments. those other words to run your business to be socially acceptable to businesses like —— in general but also aviva. nobody actually knows what the standard is and how you police it. if you end up that awful word, green washing, as you say, trying to make yourself socially acceptable. they are not in oil company anymore, they are all energy management companies so that people will forget, they hope, that by the time they get to carbon neutral in the future.— in the future. we're doing best. in the future. we're doing best- if— in the future. we're doing best. if we _ in the future. we're doing best. if we think - in the future. we're doing best. if we think about, . in the future. we're doing i best. if we think about, how things have changed in recent years. you and i have been around for quite a while and there has been constant conversation about sustainability, ethical investment but following cop26 investment but following cop26 in particular, there was a huge input from financial services there to say we are going to get serious with companies now, that we invest huge amounts of money into in terms of pension funds, et cetera.— funds, et cetera. they are actually — funds, et cetera. they are actually reacting - funds, et cetera. they are actually reacting to - funds, et cetera. they are actually reacting to their l actually reacting to their clients who are turning around and saying actually i want something that is socially and environmentally acceptable and governments which means running a business properly, but being able to show that, it is good is and is a practice. this has been going for some time. i remember starting a sustainable fund over 20 years ago but no—one was that interested may be debited green in it to actually sold a conscious but two years ago that change. for many people now, robert is environmental societal and governments misuse are now called to their portfolios. crosstalk. sorry to interrupt but as you say, what we do now need is an international benchmark. so we are measuring apples with apples. and as you say, companies cannot pull the wool over our eyes about what they are actually doing.- they are actually doing. yes, are they really _ they are actually doing. yes, are they really going - they are actually doing. yes, are they really going green l they are actually doing. yes, l are they really going green or it is —— is itjust a mould? they come out hotter with old statements about what they have done to verify the type of paper they are using and things like that. this comes down to a proper audit. this is where audit actually needs to look at audit actually needs to look at a proper standard. people sit there as an investment. it means companies had going to have to start telling the truth but also the guardians, the auditors, also have to make sure they are carefully measuring it as well. and also the likes of — measuring it as well. and also the likes of amazon _ measuring it as well. and also the likes of amazon are - measuring it as well. and also | the likes of amazon are having a huge impact on markets globally. those companies are having to come up with very serious numbers and benchmarks et cetera to try and prove what they are doing in terms of ethical investment. if they are doing in terms of ethical investment.- ethical investment. if you don't go _ ethical investment. if you don't go down _ ethical investment. if you don't go down this - ethical investment. if you don't go down this route l ethical investment. if you i don't go down this route you will have less investments and —— investors so it becomes aware of their while. that is the way you try and make it a sensible part of the business. a successful business because you have those badges. if you are not going to play games with us, you lose my investment money and it is going to find the future more difficult to manage. the future more difficult to manaue. . ~' the future more difficult to manage-— the future more difficult to manaue. . ~ y., ., manage. thank you for getting u . manage. thank you for getting u- earl . manage. thank you for getting up early- we — manage. thank you for getting up early. we loving _ manage. thank you for getting up early. we loving the - manage. thank you for getting up early. we loving the cat - up early. we loving the cat your lap. pets on the programme are always welcome. thank you very much. microsoft saying it was going to buy blizzard to move into the metaverse. facebook is saying it wants to become a metaverse company and graphics company nvidia is building a metaverse platform. so what is the metaverse? experts say it will allow for the connection of all sorts of digital environments including concerts, cinema trips and perhaps evenjob interviews. jack kelly is founder and chief executive of the compliance search group and wecruitr. many of us are still getting our heads around what the metaverse is. is our heads around what the metaverse is.— our heads around what the metaverse is. is the next step after the internet _ metaverse is. is the next step after the internet where - metaverse is. is the next step. after the internet where people can have an immersive experience within the metaverse. virtual reality, augmented reality, it kinda takes it to the next level and with regards to interviews, think about this — when you have a regular interview there is unconscious bias. interviewees worry are you going to discriminate against my race, religion, my age. if you have an avatar and it is mutual —— neutral, that might help a better experience when you are interviewing and make it more fairand you are interviewing and make it more fair and level the playing field. it it more fair and level the playing field-— it more fair and level the playing field. it is a kind of a bizarre — playing field. it is a kind of a bizarre thought. - playing field. it is a kind of a bizarre thought. if - playing field. it is a kind of a bizarre thought. if i - playing field. it is a kind of a bizarre thought. if i wasl playing field. it is a kind of. a bizarre thought. if i was an employer, i still think i would want to meet someone in person rather than have an aia experience where i'm meeting an avatar, if that makes sense. and also for the person applying for thejob and also for the person applying for the job would you not want to meet their potential boss in person? absolutely but here in the states, first with covid, delta, omicron, there is not much in person meetings so this is kind of zoom but taking it to the next level. we have been a little bit zoomed out so with having virtual reality it refreshments the whole way to interview. it is interesting, neat, different, exciting. but then also you do want to see people in person and hopefully that will happen soon but until thenit that will happen soon but until then it could be an alternative. i think also when you have an interview you are nervous, worried, afraid and you are sitting across from the other person and it is uncomfortable. if you do it in an avatar it is almost like an actor using a different name, nom de plume, and right are using a different name. it is liberating and you don't feel as restricted. when you have that interview and you are using the avatar instead of yourself you can give you more comfort level and having an interaction. it doesn't have to be either/or, it could also be a combination. brute be either/or, it could also be a combination.— be either/or, it could also be a combination. we have to go which is a _ a combination. we have to go which is a real— a combination. we have to go which is a real shame - a combination. we have to go | which is a real shame because this is a fascinating conversation stopped my mind boggles, i have to say. thank you for staying up so i said thank you for getting up early but you probably stayed up. jack from new york joining but you probably stayed up. jack from new yorkjoining us alive. thank you as well for your company. have a lovely day and we will see you soon. hello there. high pressure has kept most parts of the uk dry through the weekend, if rather cloudy. and high pressure has meant a dry start to january 2022, only seeing around about 50% — half the rainfall we'd normally see by this stage, and there's not a great deal of rain in the offing this week — certainly not for england and wales. we might see a little bit more midweek across scotland in particular with a low pressure approaching but for the meantime, the high pressure is still hanging on towards the south. there's a weather front to the north and that has given a few millimetres of rain during the day on sunday. it's sinking a little further southwards on monday but coming into that high pressure, it's a weak affair. but there's still quite a bit of cloud around but where we had the cloud breaks through the night, there's patchy frost and some patchy fog as well to watch out for, some poor visibilities, but again, not widespread, but it will take its time to clear at this time of year. and then, there'll be some brightness and sunshine — notably, we think, eastern scotland, perhaps parts of north—east england, but some thinner cloud elsewhere. perhaps quite gloomy, though, in some areas and cold as we had on sunday — four or five degrees at best. 0ur weather front towards the north as well weakens as it heads towards the moray firth, some sunshine then developing to the north of it, but it's a fairly weak affair for the most part. it then starts to push northwards again through monday night and into tuesday, so through the coming night as well, it's going to be pretty chilly where we get the cloud breaks but on the whole, there'll be a lot of cloud. some pockets of fog again on tuesday, slow to clear away but where they do, then we'll see some sunshine coming through but again, it's fairly limited — there will be a lot of cloud around and it will feel cold under that cloud, even without much breeze. that breeze still bringing in some cloudier skies and some patchy rain to the north and the west. the high pressure, as you can see, is still close by for tuesday, as i mentioned, but by mid week, we've got this area of low pressure rolling in and that's when we see some rainfall coming in to scotland, in particular, but parts of northern ireland as well as that weather front starts to trail southwards. but again, ahead of it, perhaps a little bit of brightness but it's the south—westerly wind, the atlantic breeze, that starts to pick the temperatures up and perhaps turn some of that cloud over and allow some sunshine to come through. so perhaps a little bit brighter midweek but then, the high pressure builds towards the south once again. there's more online. good morning, welcome to breakfast with dan walker and sally nugent. 0ur headlines today a defining week for borisjohnson, with the report into downing street parties released in the next few days. the prime minister is already under significant pressure, amid claims of blackmail and islamophobia within his government. the us tells relatives of its embassy staff to leave ukraine, as tensions rise with russia. counting the cost at the checkout — as prices rise at their fastest for 30 years, what impact is it having on your supermarket shop? i'll look at some key products — and get some tips for feeding your household on a budget. she's the record—setting swimmer you've never heard of —

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Transcripts For BBCNEWS World Business Report 20240708 : Comparemela.com

Transcripts For BBCNEWS World Business Report 20240708

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more now on our top story, and america's top diplomat has warned against imposing sanctions against russia too early, over its threats towards ukraine. the ukrainian president has called for sanctions to be imposed now, but the us secretary of state said that could have a detrimental effect. russia denies it's planning any invasion, but it has seized ukrainian territory before and it has an estimated 100,000 troops deployed near its borders. president biden has threatened russia's leader with measures "like none he's ever seen" if ukraine is attacked. so what would they involve? the ultimate economic hit would be to disconnect russia's banking system from the international swift payment system, effectively cuting the country off from the global economy. another key threat is to prevent the opening of russia's nord stream 2 gas pipeline in germany, and approval for that is currently being decided by germany's energy regulator. there could also be measures targeting russia's sovereign wealth fund or restrictions on banks converting roubles into foreign currency which would hurt the country's ability to operate in financial markets. speaking to american television, the us secretary of state, antony blinken said imposing sanctions now would undercut the west's negotiating position. the most important thing we can do is to use them as a deterrent, as a means of dissuading russia from engaging in further aggression. dissuading russia from engaging infurtheraggression. 0nce in further aggression. 0nce sanctions infurtheraggression. 0nce sanctions are triggered, you lose the deterrent effect. so what we are doing is putting together a whole series of actions that would figure into president putin's calculus. let's talk this through. a very warm welcome to the programme. we are hearing there from anthony lincoln, you know, not to impose sanctions right now, ukraine is calling from that, your thoughts on what the next move should be? —— antony blinken. move should be? -- antony blinken-— blinken. antony blinken is absolutely _ blinken. antony blinken is absolutely right, - blinken. antony blinken is absolutely right, it - blinken. antony blinken is absolutely right, it would l blinken. antony blinken is l absolutely right, it would be ridiculous to impose sanctions now, because then the west has shot its bolt. you have to impose sanctions in response to something russia actually does. but also leads towards what is called the nuclear option, cutting russia off from the swift payment system in response to what could initially be a minor russian incursion, as the us congress is proposing. but also means expending all of our ammunition in advance. of course, the big question is whether a good many european countries can afford this nuclear option of cutting russia off from swift at all. because it would mean they couldn't pay for russian gas, and then of course russia would not supply the gas, and then europe would be in, not a fatal energy crisis, but certainly a very major energy crisis. very ma'or energy crisis. some miaht very major energy crisis. some might argue — very major energy crisis. some might argue that _ very major energy crisis. some might argue that europe - very major energy crisis. some might argue that europe is - might argue that europe is already grappling with its energy crisis, in the uk we have seen many companies go bust because of soaring gas prices. to what extent does that play a part in all of this, with the politics in regards to ukraine and russia? because many would argue russia has been able to hold europe to ransom. ~ , , ., ., ransom. well, yes. to a degree. but then again, _ ransom. well, yes. to a degree. but then again, of _ ransom. well, yes. to a degree. but then again, of course, - but then again, of course, russia needs the money. the putin government and the russian economy are highly dependent on gas revenues. so this would be, also, a very grave blow to russia. a blow to europe as well. so this obviously is why there are still attempts... obviously is why there are still attempts. . ._ obviously is why there are still attempts... but how far do ou still attempts... but how far do you think _ still attempts... but how far do you think the _ still attempts... but how far do you think the west - still attempts... but how far do you think the west and i still attempts... but how far. do you think the west and the us will go? president biden is threatening measures that vladimir putin has never seen before, which implies the swift payment system could be impacted, the nuclear button, as you describe it. if they don't do something significant, could be argued that financial sanctions, imposed on in the past, one they annexed crimea, that hasn't changed what russia has been doing?— has been doing? well, no. and if russia decides _ has been doing? well, no. and if russia decides to _ has been doing? well, no. and if russia decides to invade, - if russia decides to invade, thenit if russia decides to invade, then it will do so in the expectation of this damage. but remember, the consensus is, russia has not decided to invade yet. there is still room for compromise. so the question also becomes, can america basically, because europe is totally divided, you know, come up totally divided, you know, come up with compromise proposals that russia could accept? and then they would in fact been no new crisis? there is still room for agreement, after all. new crisis? there is still room foragreement, afterall. us intelligence believes that the russian government has not yet decided on a full—scale invasion. and many proposals have been made for such compromise, including for example a moratorium on nato motion stop thank you for your analysis and time, we will have to leave it there. it analysis and time, we will have to leave it there.— to leave it there. it is an ongoing _ to leave it there. it is an ongoing scenario, - to leave it there. it is an ongoing scenario, and l to leave it there. it is an | ongoing scenario, and as to leave it there. it is an - ongoing scenario, and as we have already mentioned, it is our top story online, so there is more detail there as well. the debate over covid mandates is heating up in the us. some financial giants like citigroup and jp morgan chase have told their employees they'll be out of a job if they don't get the jabs, or receive a religious or medical exemption. but some workers are walking away from theirjobs, saying the new rules have gone too far. samira hussain reports from new york. daniel thornton is a married mother of four. —— danielle. she lives in missouri, and for the last eight years worked remotely out of the investment firm citigroup. it was a job she loved and a company she believed she would retire with. but an email from believed she would retire with. but an emailfrom hr made it clear she had to make a choice. at the covid vaccine or lose herjob. what was it like for you, to get that email? shocking, to say the least. i actually remember receiving the email, i was sitting in our school line pickup, and the email came across and the email and ijust... i had no words to describe it, i was completely shocked. , ., ., describe it, i was completely shocked. ., ., shocked. citi is one of a growing _ shocked. citi is one of a growing number - shocked. citi is one of a growing number of - shocked. citi is one of a - growing number of businesses, about a third of the country's just companies, that are telling employees to get the shuttle get fired. the bank said no to an interview with the bbc but said in a statement that 99% of its staff have complied. danielle is in the minority. vaccine mandates are seen as a key motivator to get the almost 40% of americans that have not yet got the shot to do so. many believe being forced to take the vaccine goes against the fabric of this country, and its ideals on freedom and privacy. protecting privacy is what is driving eli klein. he runs an art gallery specialising in works from china, although required by the state of new york to ask customers buttocks nation status, he refuses to comply. clients are other people to visit my gallery have an expectation of anonymity, and that expectation is completely violated if myself or someone on my team demanded their identification and vaccination credentials.— identification and vaccination credentials. ,, , ., credentials. the supreme court has also weighed _ credentials. the supreme court has also weighed in _ credentials. the supreme court has also weighed in on - credentials. the supreme court has also weighed in on vaccine l has also weighed in on vaccine mandates, ruling the federal government cannot force them on private companies. though it was more tolerant of firms issuing directives on their own. ultimately, freedom to chooseis own. ultimately, freedom to choose is what drove danielle to leave herjob. she now calls herself a stay at home mom, she herself a stay at home mom, she her next move. samira hussain bbc news, new york. in the uk, retailerjohn lewis says all staff are entitled to full sick pay for covid—related absences, regardless of vaccination status, and it would not be "right" to differentiate. it comes after other retailers in the country, next, 0cado and ikea revealed they are only paying the legal minimum to unjabbed staff if they have to isolate due to covid exposure. in england, unvaccinated people must isolate for 10 days if they are a close contact of someone with covid, even if they do not test positive themselves. but this has resulted in unvaccinated workers being more likely to take time off than their fully vaccinated colleagues, who no longer need to isolate in this situation. let's stick with covid vaccinations because france is introducing new rules on accessing cafes, cultural venues and long—distance transport. from today only people who can show they are fully vaccinated will be allowed to board intercity trains or eat lunch inside a restaurant. until now, unvaccinated customers had the option of presenting a negative covid test. joining me now from paris isjeremy ghez, co—director of the hec paris center for geopolitics and professor of economics. good morning to you. good morning- — good morning to you. good morning- we _ good morning to you. good morning. we know - good morning to you. good morning. we know that - good morning to you. good j morning. we know that this good morning to you. good - morning. we know that this has been a very _ morning. we know that this has been a very unpopular- morning. we know that this has been a very unpopular mood . morning. we know that this has been a very unpopular mood in | been a very unpopular mood in france, and wejust been a very unpopular mood in france, and we just saw a report from our correspondent in berlin earlier, jenny hill, a similar scenario unfolding there. talk us through how this week will go, with these new rules in place? it week will go, with these new rules in place?— rules in place? it is an interesting _ rules in place? it is an interesting bat, - rules in place? it is an interesting bat, a - rules in place? it is an| interesting bat, a risky rules in place? it is an - interesting bat, a risky bet that president macron is taking right now. —— bet. the executive branch is taking it, it seems they are betting there is a silent majority in france which she yearns for normality and who will basically support this. i am also guessing that as the weather heats up and coming weeks, hopefully, that the covid wave will dial down, and that this may only be a bad memory to many french people, and i think with the elections coming up in may, they are hoping this will create the best political climate for the elections. it best political climate for the elections-— elections. it is interesting, because — elections. it is interesting, because what _ elections. it is interesting, because what happens - elections. it is interesting, because what happens in l elections. it is interesting, l because what happens in the election is often a reflection of how the economy is doing, how well off people feel, how secure, safe, et cetera. as you say, may isn't far away at all. in france, many people are vaccinated, aren't they? fully vaccinated, aren't they? fully vaccinated, so only a small minority are impacted by these changes? minority are impacted by these chances? ., , minority are impacted by these chanes? . , . , changes? that is actually correct. _ changes? that is actually correct, even _ changes? that is actually correct, even those - changes? that is actually| correct, even those might changes? that is actually - correct, even those might be able to get a pass if they have evidence that they have had covid, in the past. so 11 days after they still get the past. so this bet might actually work out. it is still incredibly risky, we have seen in the past our opposition can be strong to emmanuel macron, especially when this contradicts what he has been saying since the beginning of the pandemic, and we have also seen over the weeks and months however minority can take hold of the political agenda in the country. take the lms movement, for instance. so it is still a risky bet, hoping indeed that this creates optimism and a positive dynamic for the executive branch right now, and this government. indie executive branch right now, and this government.— this government. we shall keep a close eye _ this government. we shall keep a close eye for _ this government. we shall keep a close eye for now. _ this government. we shall keep a close eye for now. thank - this government. we shall keep a close eye for now. thank you | a close eye for now. thank you for your time this morning. hong kong—based airline cathay pacific airways is continuing to feel the effects of covid lockdowns. the international carrierjust released their latest set of results. the airline says it's bottom line is being hit as it spends more cash to deal with stricter quarantine measures. joining me now from singapore is our business reporter nick marsh. we not expecting good news from cathay pacific, and they delivered?— cathay pacific, and they delivered? ., ., , cathay pacific, and they delivered? . ., , ., delivered? yeah, there was a tin bit delivered? yeah, there was a tiny bit of— delivered? yeah, there was a tiny bit of good _ delivered? yeah, there was a tiny bit of good news - delivered? yeah, there was a tiny bit of good news but - delivered? yeah, there was a tiny bit of good news but if. tiny bit of good news but if you look at a longer term to ensure it is all bad news for cathay pacific. the small bit of bad news was that 2021 was not as bad as expected. they lost about $750 million compared to the analysts buzz forecasts of $1.3 billion. a small bit of comfort, i suppose. heavy cost—cutting under strong demand for cathay pacific cosmic cargo business as well, but helped matters. they managed to turn a profit on the second half of 2021, but thatis on the second half of 2021, but that is really all the good news for cathay pacific. they say that in 2022 they expect to lose 130 a month, we all know the reason why hong kong is effectively shut, it is very difficult to get into the city, unless you are coming from china, because of those covid restrictions. if you do manage to get into the city you face potentially weeks of quarantine. pilots at cathay pacific are also leaving and our drives, and some of them are complaining about the perpetual state of lockdown they find themselves in. they fight with city and have to quarantine in a hotel there, they fly back to hong kong, quarantined air, fire to another city, hotel quarantine, so on and so forth. recruitment will be a big issue for them as well. cathay pacific is operating at 2% of its pre—pandemic capacity. it is an incredible figure, really. compared to somewhere like singapore, which did have some quite tight border policies as well, but is now starting to slowly resume international travel for vaccinated passengers, and singapore airlines are now saying that they expect to hit about 50% of they expect to hit about 50% of the pre—pandemic capacity in january and february and it is a really big difference.- a really big difference. yeah, it is a huge — a really big difference. yeah, it is a huge difference, - a really big difference. yeah, it is a huge difference, that l it is a huge difference, that is for sure. let's get some of the day's other news. we keep being told, the meta— verse —— metaverse is the next big thing. i'm sure many of you are asking that. we will look at how it could change everything, from the way we work to how we socialise to how we even a job interview. all that and more to come in a moment. the shuttle challenger exploded soon after liftoff. there were seven astronauts on board, one of them a woman school teacher. all of them are believed to have been killed. by the evening, tahrir square, the heart of official cairo, was in the hands of the demonstrators. they were using the word 'revolution'. the earthquake singled out buildings and brought them down in seconds. tonight, the search for any survivors has an increasing desperation about it as the hours pass. the new government is firmly in control of the entirely republic of uganda. survivors of the auschwitz - concentration camp have been commemorating the 40th anniversary of their- liberation. they toured the huts, - gas chambers and crematoria and relived their- horrifying experiences. this is bbc world news, the latest headlines: the united states has ordered the families of its diplomats in the ukrainian capital, kyiv, to leave the country. intense gunfire has been heard in the capital of burkina faso amid unconfirmed reports of a coup. a major uk investment fund says it will vote to try to get directors kicked out of firms that fail to make good on environmental pledges. aviva investors — which has more than $350 billion of assets under management — also wants bosses�* pay to be linked to sustainability goals. it is the latest big investment firm to ramp up the pressure on corporations in a bid to make them clean up their acts. joining me now to discuss this is a man that knows all about investing, justin urquha rt—stewa rt, co—founder of seven investment management. good morning to you! this is not new news in a way because aviva has been pretty proactive when it comes to asking those that invest into do ethical investment. lip that invest into do ethical investment.— that invest into do ethical investment. , ., investment. up until now we haven't really _ investment. up until now we haven't really seen - investment. up until now we haven't really seen major- haven't really seen major action. a lot of words going on and we need to deal with the e56, and we need to deal with the esg, environmentaland esg, environmental and sustainable governments. esg, environmentaland sustainable governments. those other words to run your business to be socially acceptable to businesses like —— in general but also aviva. nobody actually knows what the standard is and how you police it. if you end up that awful word, green washing, as you say, trying to make yourself socially acceptable. they are not in oil company anymore, they are all energy management companies so that people will forget, they hope, that by the time they get to carbon neutral in the future.— in the future. we're doing best. in the future. we're doing best- if— in the future. we're doing best. if we _ in the future. we're doing best. if we think - in the future. we're doing best. if we think about, . in the future. we're doing i best. if we think about, how things have changed in recent years. you and i have been around for quite a while and there has been constant conversation about sustainability, ethical investment but following cop26 investment but following cop26 in particular, there was a huge input from financial services there to say we are going to get serious with companies now, that we invest huge amounts of money into in terms of pension funds, et cetera.— funds, et cetera. they are actually — funds, et cetera. they are actually reacting - funds, et cetera. they are actually reacting to - funds, et cetera. they are actually reacting to their l actually reacting to their clients who are turning around and saying actually i want something that is socially and environmentally acceptable and governments which means running a business properly, but being able to show that, it is good is and is a practice. this has been going for some time. i remember starting a sustainable fund over 20 years ago but no—one was that interested may be debited green in it to actually sold a conscious but two years ago that change. for many people now, robert is environmental societal and governments misuse are now called to their portfolios. crosstalk. sorry to interrupt but as you say, what we do now need is an international benchmark. so we are measuring apples with apples. and as you say, companies cannot pull the wool over our eyes about what they are actually doing.- they are actually doing. yes, are they really _ they are actually doing. yes, are they really going - they are actually doing. yes, are they really going green l they are actually doing. yes, l are they really going green or it is —— is itjust a mould? they come out hotter with old statements about what they have done to verify the type of paper they are using and things like that. this comes down to a proper audit. this is where audit actually needs to look at audit actually needs to look at a proper standard. people sit there as an investment. it means companies had going to have to start telling the truth but also the guardians, the auditors, also have to make sure they are carefully measuring it as well. and also the likes of — measuring it as well. and also the likes of amazon _ measuring it as well. and also the likes of amazon are - measuring it as well. and also | the likes of amazon are having a huge impact on markets globally. those companies are having to come up with very serious numbers and benchmarks et cetera to try and prove what they are doing in terms of ethical investment. if they are doing in terms of ethical investment.- ethical investment. if you don't go _ ethical investment. if you don't go down _ ethical investment. if you don't go down this - ethical investment. if you don't go down this route l ethical investment. if you i don't go down this route you will have less investments and —— investors so it becomes aware of their while. that is the way you try and make it a sensible part of the business. a successful business because you have those badges. if you are not going to play games with us, you lose my investment money and it is going to find the future more difficult to manage. the future more difficult to manaue. . ~' the future more difficult to manage-— the future more difficult to manaue. . ~ y., ., manage. thank you for getting u . manage. thank you for getting u- earl . manage. thank you for getting up early- we — manage. thank you for getting up early. we loving _ manage. thank you for getting up early. we loving the - manage. thank you for getting up early. we loving the cat - up early. we loving the cat your lap. pets on the programme are always welcome. thank you very much. microsoft saying it was going to buy blizzard to move into the metaverse. facebook is saying it wants to become a metaverse company and graphics company nvidia is building a metaverse platform. so what is the metaverse? experts say it will allow for the connection of all sorts of digital environments including concerts, cinema trips and perhaps evenjob interviews. jack kelly is founder and chief executive of the compliance search group and wecruitr. many of us are still getting our heads around what the metaverse is. is our heads around what the metaverse is.— our heads around what the metaverse is. is the next step after the internet _ metaverse is. is the next step after the internet where - metaverse is. is the next step. after the internet where people can have an immersive experience within the metaverse. virtual reality, augmented reality, it kinda takes it to the next level and with regards to interviews, think about this — when you have a regular interview there is unconscious bias. interviewees worry are you going to discriminate against my race, religion, my age. if you have an avatar and it is mutual —— neutral, that might help a better experience when you are interviewing and make it more fairand you are interviewing and make it more fair and level the playing field. it it more fair and level the playing field-— it more fair and level the playing field. it is a kind of a bizarre — playing field. it is a kind of a bizarre thought. - playing field. it is a kind of a bizarre thought. if - playing field. it is a kind of a bizarre thought. if i - playing field. it is a kind of a bizarre thought. if i wasl playing field. it is a kind of. a bizarre thought. if i was an employer, i still think i would want to meet someone in person rather than have an aia experience where i'm meeting an avatar, if that makes sense. and also for the person applying for thejob and also for the person applying for the job would you not want to meet their potential boss in person? absolutely but here in the states, first with covid, delta, omicron, there is not much in person meetings so this is kind of zoom but taking it to the next level. we have been a little bit zoomed out so with having virtual reality it refreshments the whole way to interview. it is interesting, neat, different, exciting. but then also you do want to see people in person and hopefully that will happen soon but until thenit that will happen soon but until then it could be an alternative. i think also when you have an interview you are nervous, worried, afraid and you are sitting across from the other person and it is uncomfortable. if you do it in an avatar it is almost like an actor using a different name, nom de plume, and right are using a different name. it is liberating and you don't feel as restricted. when you have that interview and you are using the avatar instead of yourself you can give you more comfort level and having an interaction. it doesn't have to be either/or, it could also be a combination. brute be either/or, it could also be a combination.— be either/or, it could also be a combination. we have to go which is a _ a combination. we have to go which is a real— a combination. we have to go which is a real shame - a combination. we have to go | which is a real shame because this is a fascinating conversation stopped my mind boggles, i have to say. thank you for staying up so i said thank you for getting up early but you probably stayed up. jack from new york joining but you probably stayed up. jack from new yorkjoining us alive. thank you as well for your company. have a lovely day and we will see you soon. hello there. high pressure has kept most parts of the uk dry through the weekend, if rather cloudy. and high pressure has meant a dry start to january 2022, only seeing around about 50% — half the rainfall we'd normally see by this stage, and there's not a great deal of rain in the offing this week — certainly not for england and wales. we might see a little bit more midweek across scotland in particular with a low pressure approaching but for the meantime, the high pressure is still hanging on towards the south. there's a weather front to the north and that has given a few millimetres of rain during the day on sunday. it's sinking a little further southwards on monday but coming into that high pressure, it's a weak affair. but there's still quite a bit of cloud around but where we had the cloud breaks through the night, there's patchy frost and some patchy fog as well to watch out for, some poor visibilities, but again, not widespread, but it will take its time to clear at this time of year. and then, there'll be some brightness and sunshine — notably, we think, eastern scotland, perhaps parts of north—east england, but some thinner cloud elsewhere. perhaps quite gloomy, though, in some areas and cold as we had on sunday — four or five degrees at best. 0ur weather front towards the north as well weakens as it heads towards the moray firth, some sunshine then developing to the north of it, but it's a fairly weak affair for the most part. it then starts to push northwards again through monday night and into tuesday, so through the coming night as well, it's going to be pretty chilly where we get the cloud breaks but on the whole, there'll be a lot of cloud. some pockets of fog again on tuesday, slow to clear away but where they do, then we'll see some sunshine coming through but again, it's fairly limited — there will be a lot of cloud around and it will feel cold under that cloud, even without much breeze. that breeze still bringing in some cloudier skies and some patchy rain to the north and the west. the high pressure, as you can see, is still close by for tuesday, as i mentioned, but by mid week, we've got this area of low pressure rolling in and that's when we see some rainfall coming in to scotland, in particular, but parts of northern ireland as well as that weather front starts to trail southwards. but again, ahead of it, perhaps a little bit of brightness but it's the south—westerly wind, the atlantic breeze, that starts to pick the temperatures up and perhaps turn some of that cloud over and allow some sunshine to come through. so perhaps a little bit brighter midweek but then, the high pressure builds towards the south once again. there's more online. good morning, welcome to breakfast with dan walker and sally nugent. 0ur headlines today a defining week for borisjohnson, with the report into downing street parties released in the next few days. the prime minister is already under significant pressure, amid claims of blackmail and islamophobia within his government. the us tells relatives of its embassy staff to leave ukraine, as tensions rise with russia. counting the cost at the checkout — as prices rise at their fastest for 30 years, what impact is it having on your supermarket shop? i'll look at some key products — and get some tips for feeding your household on a budget. she's the record—setting swimmer you've never heard of —

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