And egypt at around 10 00 local time last night. President biden has called for the release of all hostages in gaza before there can be a ceasefire. The Israeli Army Says its carried out limited incursions into gaza ahead of an expected ground offensive. Just to say, we have got live coverage of course on a website of what is happening in israel and gaza. This is the plane that has just landed in tel aviv, israel, where french president Emmanuel Macron is due to disembark at any moment. Of course he has meetings with of course he has meetings with israeli Prime Minister Benjamin Netanyahu among others. We will keep you right across developments as they happen. Now lets get down to business and whats called Davos In The Desert where scores of senior bankers and leaders in business are gathered for saudi arabias high profile investment conference. Its in riyadh and is the 7th edition of the future Investment Initiative with the likes ofjp morgan chases jamie dimon and blackrocks larry fink among many other well known Chief Executives who are expected to attend. They grapple with the current challenges facing the Global Economy and bring their wisdom in to play. Some observers say they are attracted by the size of the Public Investment fund, one of the regions most active sovereign wealth funds. Its chaired by crown Prince Mohammed bin salman. So lets go live to riyadh and talk to a board member of the future Investment Initiative, matteo renzi, who was Prime Minister of italy. I won welcome to the programme. A warm welcome. What does this Initiative Look to achieve . This Initiative Look to achieve . , achieve . Future Investment Initiative tries achieve . Future Investment Initiative tries to achieve . Future Investment Initiative tries to offer achieve . Future Investment Initiative tries to offer to. Initiative tries to offer to give a platform of dialogue, particularly in business. And rightly you explained the number, the quality here, thinking only about one point. Europe but also a lot of delegates from china, to the usa, to discuss here because in the last year the future Investment Initiative became one of the most attractive and brilliant possibilities of exchange. Last time it was in miami, the next in hong kong, but this edition in riyadh is the pillar of the fii. A lot of tensions in geopolitics at the moment but with a lot of tensions also in the economy. We need a new compass. This is the title of this initiative, this event, this edition. A new compass to understand what is the future for business and for politics. To the future for business and for olitics. ,. , politics. To what extent is what is happening politics. To what extent is what is happening in politics. To what extent is i what is happening in israel, politics. To what extent is what is happening in israel, in gaza, overshadowing this event now . I gaza, overshadowing this event now . , now . I believe everything happened now . I believe everything happened in now . I believe everything happened in the now . I believe everything happened in the last now . I believe everything happened in the last two | now . I believe everything happened in the last two years is an unbelievable change. When i was Prime Minister, the world was totally different, and that was totally different, and that was only seven years, eight years ago, and now we have a crisis between russia and ukraine, a crisis inside europe, in the balkan, and a lot of crises in africa, particularly sahara, and we continue with troubles between china and other people in southeast asia. But of course the israel gaza crisis, the war is absolutely not only for the region, that is my opinion, and i appreciate every initiative, but people blink and the Biden Initiative to avoid an escalation, try to give hope to hostages. You described in the news, what happened in the next hours, to release some hostages, but too many people are in the hands of terrorists of gaza. For the fii it is important, more important than ever, to offer a platform of dialogue because when we discuss new compass, we understand the troubles in the area are not troubles only in business. I believe the real business. I believe the real business of hamas was attacking not only people in israel, the jewish people in israel, but also to tackle the stability in the region and you know, with the region and you know, with the leadership of muhammad bin salman, really now saudi arabia tries to play a very important role, probably the piece was a goal of particular importance also in this area. So we dont discuss about politics, we discuss about politics, we discuss about politics, we discuss about business and geopolitics. But i think fii is more important than ever after the Terrorists Attack and after the Terrorists Attack and after the risk of escalation in the region. The risk of escalation in the re. Ion. ~. ,. , the risk of escalation in the reuion. A,. ,. , region. 0k, matteo renzi, as ever, i region. 0k, matteo renzi, as ever. I wish region. 0k, matteo renzi, as ever, i wish we region. 0k, matteo renzi, as ever, i wish we had region. 0k, matteo renzi, as ever, i wish we had more region. 0k, matteo renzi, as. Ever, i wish we had more time. I often say that on this programme but sadly we have no more time. Thank you for talking to us and we shall keep a very close eye on how that davosin a very close eye on how that Davos In The Desert unfolds this week. What is said there, what conclusions are drawn there as the week progresses. Lets now look at energy. Renewables share of the global Electricity Mix will be approaching half by the end of this decade. Thats according to the World Energy Outlook that has just been published by the iea the International Energy agency. The report also predicts there will be nearly ten times as many electric cars on the road than there are today by 2030. But it warns stronger measures are needed to meet the Paris Agreement goal, to limit Global Warming to within 1. 5 degrees celsius of pre industrial levels. If we look at what was said this time last year in this report it was warning that our Energy Markets remain extremely vulnerable to what they described as unrelenting geopolitical and economic concerns. As recent events in the middle east prove, we are still in a time of great flux. So is our Energy System still fragile . Live now to samuel chishook, Founding Partner at els analysis. This report has literallyjust come out. I dont know if you have had a chance to have a good look at it yet but what do you make of what they are saying this year . You make of what they are saying this year . Well, i had a lance saying this year . Well, i had a glance and saying this year . Well, i had a glance and obviously saying this year . Well, i had a glance and obviously they saying this year . Well, i had a glance and obviously they are | glance and obviously they are lauding the strikes in the Energy System and actually being optimistic on the peak demand of. They see of course it is easier because it is closer in time but there is this Big Wave Of Lng Coming On Stream from 2025, which means that there are not that many winters that are problematic any more for europe until there will be sufficient gas. But actually the fossils will phase out, it is coming, they are saying, and by the end of this decade we should at least have had some peak demand particularly on the oil side. From that Point Of View, very optimistic and obviously on the solo build up, the wind build up, Offshore Wind, etc. In that sense it is very optimistic. In that sense it is very optimistic. In that sense it is very o timistic. � ,. , optimistic. And in terms of what has optimistic. And in terms of what has happened optimistic. And in terms of what has happened in optimistic. And in terms of what has happened in the. Optimistic. And in terms of. What has happened in the last 12 months, many governments around the world have changed policy, they have changed their commitment when it comes to targets, when they might reach certain targets. Because of what is happening in ukraine, of course the war in ukraine, and the impact that has had on energy and Energy Security has become a top priority for most governments. It become a top priority for most governments. Governments. It is, definitely, and there governments. It is, definitely, and there is governments. It is, definitely, and there is some governments. It is, definitely, and there is some talk governments. It is, definitely, and there is some talk about | and there is some talk about that and i do however say there is some skating by one part of the economics. Of course they talk about a slowdown, what is happening in china, etc, is very important but not necessarily derailing and i think theyre right in that, not derailing build up but the global transition into higher Interest Rate environment, that has created a big turn with certain parts, Big Project Part of the renewable build out. We are starting to struggle with that and this year i think we are starting to see signs of big Offshore Wind projects being put on pause. Sometimes the developers have even walked away. Many more developers are now starting to ask for a renegotiation of prices that were set during 2022, 2021, 2020, etc, just because their cost base has increased so much. That is not necessarily captured, ifear, at much. That is not necessarily captured, i fear, at least much. That is not necessarily captured, ifear, at least not as i have been able to see in the beginning of this morning. It is very interesting reading, it is very interesting reading, i have to say. Samuel chishook, thank you for giving your take on that. The reportjust out. Lets stay on this subject. The Oil Giant Chevron has agreed to buy the hess corporation, another energy company, for 53 billion. Its seeking to seize more us production and and also a stake in exxon mobil� s sizeable Oil Discoveries in guyana. This takeover follows a recent 60 billion acquisition by exxon earlier this month. Live now to jane foley, head of fx strategy at rabobank. Good morning to you. Good morning good morning to you. Good morning we good morning to you. Good morning. We have good morning to you. Good morning. We have this good morning to you. Good i morning. We have this energy re ort morning. We have this Energy Report out morning. We have this Energy Report out that morning. We have this Energy Report out that looks morning. We have this Energy Report out that looks at report out that looks at commitment to moving to green energy, the big transition as it is cold, and yet energy, the big transition as it is mid, and yet when energy, the big transition as it is cold, and yet when it comes to the oil sector they are busy doing deals and making hay, still making money from oil while they can. Oil while they can. Well, you know, there oil while they can. Well, you know, there has oil while they can. Well, you know, there has been oil while they can. Well, you know, there has been a oil while they can. Well, you know, there has been a bit l oil while they can. Well, you | know, there has been a bit of oil while they can. Well, you i know, there has been a bit of a sea change here. If we go back a few years, there was perhaps a few years, there was perhaps a lack of investment in fossil fuel because of the energy transition. But of course the geopolitics of change, we have Russia Ukraine and now tensions in the middle east and concerns about whether or not iran could be drawn into the conflict and what that would do to oil supply. Energy security has really risen on the agenda, we saw in the uk rishi sunak approved a new north sea oil field, and now we have this consolidation in the us oil sector. We have Big Companies buying other assets perhaps to make up for the fact they havent really been investing in recently and trying to bring home the Energy Security for the us and cote guiana has a big offshore exploration field, a lot of money to be made there, and this is what is happening. We have guyana. This will turn more investment into the oil and gas sector. Ihla into the oil and gas sector. No doubt about that not just for governments but also for the big oil players. Bp, shell and others changing their narrative, really, when it comes to knot their commitment, the commitment is there, but the commitment is there, but the length of time it would take, the money they are putting into the green transition, etc, and the investments they are making now. ~ ~ investments they are making now. ~ ~. , � , now. Well, i think thats right and of course now. Well, i think thats right and of course what now. Well, i think thats right and of course what we now. Well, i think thats right and of course what we have l now. Well, i think thats right. And of course what we have seen because of these geopolitical tensions is the price of oil rising and of course that means the investment into oil and gas is more attractive, but also, again, there is this risk that if we dont build the renewables quickly enough, what will we do . We need something to rely on whilst we go through this transition. Another very interesting angle here is that politically we have seen a lot of support from the green for the green transition full. They were swiss elections over the weekend, the green party lost out, in germany support for the green parties has diminished. This is related to the Point Of View of voters about the green transition. People are concerned that they cannot afford heat pumps, they cannot afford heat pumps, they cannot afford heat pumps, they cannot afford an electric vehicle, they cannot afford perhaps the job losses perhaps in germany and may be in the us because it takes a lot less parts to build an electric vehicle than a Combustion Engine cars so there are political angles coming through, as well. Political angles coming throu h, as well. ~ through, as well. Thank you so much, through, as well. Thank you so much. Nice through, as well. Thank you so much, nice to through, as well. Thank you so much, nice to see through, as well. Thank you so much, nice to see you through, as well. Thank you so much, nice to see you again. L lets get some of the days other news now. Tens of thousands of women in iceland, including the Prime Minister katrinjakobsdottir, will refuse to work today. The strike has been called in protest against gender based violence and inequality. Its the first full day action of its kind since 1975, when 90 of icelandic women took part. Industries including healthcare, education and air travel are expected to be disrupted. The price of the Cryptocurrency Bitcoin has soared 14 to the highest value since may 2022, and crypto linked stocks also tracked higher. Theres growing speculation about the possible launch of a Bitcoin Exchange traded fund after us securities and Exchange Commission revealed it wouldnt appeal a ruling that would allow it to go ahead. Were getting ready for gm and ford to report Third Quarter earnings this week, and give some insight into how the United Auto Workers strike is affecting their bottom lines more than a month on. This comes as the uaw announced a Surprise Expansion of strikes at a Stellantis Plant in michigan on monday. Erin delmore reports. Its a surprise and an escalation. The United Auto Workers union called on 6,800 workers to walk out of a Stellantis Plant outside of detroit, where the Company Makes its profitable ram pickup trucks. Its stellantis largest us plant. In total, some 40,000 workers are now on strike at stellantis, ford and gm thats more than a quarter of the unions total membership employed by detroits big three auto makers, and the auto makers have laid off thousands of workers. This strike is historic for targeting all three auto makers at once. Union members are asking for pay increases, as well as Better Benefits for retirees and others. This is the first escalation since the uaw ordered nearly 9,000 workers to walk out at fords largest plant in mid october. The tactic has been to play the auto makers against each other in negotiations, and in this instance, the uaw may be trying to pressure stellantis into matching an offer put on the table by gm on friday. Well get a glimpse into what this means for the auto makers bottom lines when gm and ford report Quarterly Earnings this week. In the past, the union has used Earnings Reports and Executive Pay to fuel its argument that the companies can afford concessions to workers. Gm reports tuesday, giving wall street the first look at strikes impact. Ford follows on thursday. Around the world and across the uk, this is bbc news. Bbc news bringing you different stories| from across the uk. For generations, people in wellingborough have walked through these lime trees. Campaigners want that to continue. In february, protests stopped contractors felling the trees to make way for an access road to the new Stanton Cross housing development. Around 16 were chopped down though around 45 were temporarily spared. Now campaigners have been told by a High Court Judge their protest can go to a fulljudicial review. These are our heritage. Theres a heritage of wellingborough. Wellingborough walks is a natural amenity, and almost a natural monument within our town. The Developers Say theyve paused work while the legal challenge takes place, but cant comment until its resolved. Thats expected to be next year when campaigners hope these trees will still have a bright future. For more stories from across the uk, head l to the bbc news website. Youre live with bbc news. More Business News injust a moment. Uk Employment Figures will be released shortly. Last week, figures released revealed that average pay growth had risen above inflation for the first time in almost two years, but unemployment seems to be rising slightly, perhaps in response to falling demand in the economy. Live now to michael stull, Senior Vice President at manpowergroup uk. Good to see you. Tell us about the data to come in at 7am uk time, in an hour in ten minutes, whatare we time, in an hour in ten minutes, what are we expecting . Sure. Good morning. Expecting a couple of things. One, i think we will continue to see these trends we have seen over the last couple of months, where we will see some positives, some negatives as we fight our way back to getting into a more balanced labour market. In our own business in manpowergroup uk, as we have seen in some numbers released last week, is a drop in demand but that drop in demand is still above pre pandemic levels which, if we remember back to them, that was pretty hot labour market. I think the second thing is that we will see a continued return of workers back into the workforce, which will be great for the economy and so i am expecting to see a pretty stable employment level, and we will continue to seek stronger wage growth, i believe. Typically wages will lag the broader Inflation Numbers are. And to what extent do you think the Bank Of England is concerned about the rise in wages and the higher wages, something Andrew Bailey has warned about for quite some time now . Warned about for quite some time now . ,. , ~ time now . Yeah, and i think the ruestion time now . Yeah, and i think the question always time now . Yeah, and i think the question always is, time now . Yeah, and i think the question always is, do time now . Yeah, and i think the question always is, do you time now . Yeah, and i think the question always is, do you get i question always is, do you get that wage price spiral . We have to understand that wages are stickier and typically prices are so it takes a couple of months to work through these numbers so i think we will get a good indication over the next couple of months because we should see those wages start to follow the Inflation Numbers. 0k, michael stull, thank you very much indeed, from manpowergroup uk, and when we get that date it we will update you here on bbc news. Deutsche bahn, germanys once admired public Train Service, isnt quite what it used to be. Unreliability, delays, cancellations and lengthy Track Closures are now regular complaints, leading Germanys National audit office to describe the operator as being in permanent crisis. Last week, Deutsche Bahn agreed a deal to sell its International Transport business arriva group to miami based infrastructure investor i squared capital. Live now to gregor kolbe, train and travel spokesperson for the federation of german consumer organisations. I warm welcome. How bad is it . Very good, thank you. So i warm welcome. How bad is it . Very good, thank you. Very good, thank you. So how bad is it, very good, thank you. So how bad is it, tell very good, thank you. So how bad is it, tell us, very good, thank you. So how bad is it, tell us, the very good, thank you. So how bad is it, tell us, the service l bad is it, tell us, the Service Provided. 50 bad is it, tell us, the Service Provided bad is it, tell us, the Service Provided. So we have a lot of problems provided. So we have a lot of problems in provided. So we have a lot of problems in germany provided. So we have a lot of problems in germany right i provided. So we have a lot of. Problems in germany right now. As you mentioned. The delay of trains is really annoying to the passengers. Punctuality rate in september this year dropped to an all time low of less than 60 , which means 40 of the trains are delayed, which is very annoying to the passengers. We have overcrowded trains, especially on fridays and sundays. We have very Poor Customer Service and good Customer Service and good Customer Service and good Customer Service is needed when the train is cancelled or delayed. This is a very, very big problem for the passengers of germany right now. So it big problem for the passengers of germany right now. Of germany right now. So it is a sort of of germany right now. So it is a sort of pain of germany right now. So it is a sort of pain being of germany right now. So it is a sort of pain being felt a sort of pain being felt currently and people watching you around the world might say, yeah, we are experiencing similar problems where we are. The german government, though, has announced a major upgrade in the rail network. I assume that will take time. That will take time. You are riuht. That will take time. You are right the that will take time. You are right. The situation that will take time. You are right. The situation we that will take time. You are | right. The situation we have now with the cancellation and delays of trains will be probably for the next year. So the government has announced to invest more than a0 billion euros up to 2027, which is a lot of money, and this will result in a lot of construction work. And this will result in the end of time intensive re routing of the trains, users of that service will see the situation will be very for the passengers in the next year and we hope that after 2027 situation will be much better and the Train Service will run as people want it to run. {lilia as people want it to run. 0k, thank you as people want it to run. 0k, thank you very as people want it to run. 0k, thank you very much as people want it to run. 0k, thank you very much for as people want it to run. 0k, thank you very much for talking to us about the experiences in germany at the moment on the trains. The spectre of toxic air has come back to haunt major indian cities like delhi and mumbai with the onset of winter. Indias capital has recorded some of the worlds worst air in recent days, sending the government into firefighting mode. 0ur India Business correspondent Nikhil Inamdar has more on measures announced to tackle this problem. Well, a raft of policies have been announced to tackle air quality, which has now hit the very poor level in the indian capital. In a meeting in delhi yesterday, the states Environment Minister announced that bus and metro frequency would be increased so that public transport is more widely used, rather than personal cars. The government has also said special teams would be deputed to identify and inspect the local sources of pollution across some eight or nine hotspots in the capital. The minister said dust Suppressant Powders would also be used to curb pollution. Now, reports suggest a crackdown on firecrackers and Stubble Burning in farms in neighbouring states could also be some other measures under consideration going ahead. In mumbai, meanwhile, Pollution Guidelines have been issued to some 6,000 Construction Sites to keep air quality in check this includes installation of Sprinkler Systems and anti smog machines. Now, how effective these policies are in tackling whats become a persistent and recurring problem during the winters will only become clearer as temperatures drop further in the days ahead. As you can see, we as you can see, we are as you can see, we are watching live at the echo in tel aviv, where this plane, we are hoping to see very soon frances Emmanuel Macron disembark this aircraft. It hasjust Emmanuel Macron disembark this aircraft. It has just landed Emmanuel Macron disembark this aircraft. It hasjust landed in tel aviv, where the french president is due to meet with Prime Minister Benjamin Netanyahu. 0f Prime Minister Benjamin Netanyahu. Of course they will be discussing all sorts of issues. But from Emmanuel Macrons Point Of View he will look to talk about the resumption of a genuine peace process. So here he is now, coming off the plane, and his arrival. He is the latest world leader to arrive. 0f arrival. He is the latest world leader to arrive. Of course the uks rishi sunak was in israel last week, as was 0laf scholz and president biden. You are with bbc news. Hello, there. Weve started this week off on a fine note, but things are turning more unsettled now for tuesday onwards, and by the end of the week, itll be turning windier with plenty of blustery showers. So, rain at times over the next few days, but there will be some drier, brighter, sunnier moments at times. The Pressure Chart for tuesday is pretty complicated. Weve got a mess of Weather Fronts across the country, so generally cloudy, i think, today with variable amounts of rain. I think most of the rain, persistent at times, will be across northern and Eastern England areas that really dont need any more rainfall, so we have a met Office Yellow warning in here in force for tuesday up until around apm. Elsewhere, there will be some sunshine around, best of it, scotland, maybe southern england, but even here therell be a few showers as well. Temperatures 10 15 degrees and winds will remain light and variable for many. Now, as we head through tuesday night, that area of low pressure starts to push back in towards the northeast and we could see some rain for eastern scotland, Northeast England again, areas that dont need the rain. Another pulse of Rain Running Across Southern Britain thanks to another area of low pressure. But in between, drier spells with clear skies, variable cloud, but a milder night to come temperatures 5 8 degrees. For wednesday, again, were in between weather systems. With light winds, well start off with some rain perhaps across the southeast. It could linger here through the day, and that Weather Front across the northeast will still push some cloud and rain in towards eastern scotland, maybe Northeast England again, areas that really dont need any more rainfall. But elsewhere, from northern ireland, down through much of england, wales, we should see some sunshine around. The highs of 1a or 15 degrees, but then it starts to turn wetter and windier in the southwest later in the day, and thats because this much larger area of low pressure will dominate the Weather Scene for thursday and friday and even into the weekend, bringing plenty of showers and strong winds, particularly towards the south and the west. So, the winds picking up across Western Areas through thursday. Band of rain spreads northwards again bringing rainfall to areas that dont need it. But for much of the country, northern ireland, the rest of england, wales, sunny spells, scattered showers. Some of these will be heavy and thundery in places, particularly towards the southwest. Temperatures reaching 15 degrees. If we factor in the wind, might not feel that mild. Similar story on friday and into the weekend low pressure sticks nearby with further showers or even longer spells of rain. Take care. Good morning. Welcome to breakfast with sally nugent and ben thompson. 0ur headlines today. Two elderly israelis abducted by hamas are freed from gaza. The family of one hostage live in north london and have spoken about her release. Its wonderful to see my mum. Her grace, it comes across, shes quite something. Im so proud of her. 20 aid trucks have delivered supplies of medicine, food and water to gaza its thought that 1. A Million People there are homeless. More Severe Weather warnings are in place for large parts of england already hit by flooding, as a result of storm babet. Good morning. Some Heavy Rain Crossing england and wales this morning, eventually becoming confined to Northern England where it will be very persistent. 0n either side of that we see a return to sunshine and showers. More later. How much can you trust the customer reviews you see online . Major online firms including amazon and booking. Com say theyre working together to tackle the surge in fake ones. Ill explain how to spot them as well later. Manchester united prepare to honour sir Bobby Charlton in their first home match since his death. Former players and fans queue to pay their respects, as the club confirm there will be a Special Pre Match Tribute Tonight to honour their former captain
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