a investment. warm welcome to the programme. a warm welcome to the programme. good morning. sounds like a bit of a mess in germany in terms of trying to sort out the money matters so they can go ahead with much needed spending, your take? go ahead with much needed spending, yourtake? it is go ahead with much needed spending, your take?- spending, your take? it is a mess something _ spending, your take? it is a mess something that - spending, your take? it is a mess something that the i mess something that the introduction said is self—imposed, this constitutional break supposed to be stopping undue spending and returning to balanced budget, it was introduced into 2009 at a time when germany thought it could beat off the rest of the world in terms of its own economic competitiveness, it ought then the euro crisis would not be something that would be hugely problematic for it. so it had built into the constitution its commitment, to have a balanced budget every year. and there will be some hoisting a pettard here because the crisis did affect germany, the sovereign debt crisis, about 12 years ago, that did happen unexpectedly since then we have had a string of other crisis notjust had a string of other crisis not just covid—19, had a string of other crisis notjust covid—19, the ukraine war and various damaging defects in the german economy that exposed. for the fourth yearin that exposed. for the fourth year in a row the debt break has had to be suspended. the opposition the christian social union are making hay out of this, they are the ones who presided over the introduction of this debt break. they are now saying if the chancellor wants to cancel it, this is a sign of bad management. to make it was one of the coalition partners a three party coalition very complicated set “p coalition very complicated set up first time we have had this in the federal republic since the end of the second world war in terms of this complex of coalitions, the free democratic party committed to sounds mighty, balanced budget and so on they are deeply fed up and to make matters worse they are the finance ministry, they chose to run the finance ministry thinking it might be a good thing, it has turned out to be a poisoned chalice. you now have the opposition, the conservative party is calling for a new election. knowing this will not happen straightaway but trying to turn the government on a spit, knowing there are these fractures within the coalition, knowing the eft are on the conservative side, trying to sow the seeds of misfortune within the coalition, all of this is making the economic question you mentioned at the beginning, somewhat worse. there is meant to be a mild recession in germany is heading into malaise and self doubt wondering about that is industrial future not least because of the high price of energy, exposed by the russian crisis and the invasion of ukraine, the fact germany became far too dependent on russian gas imports. so, a perfect storm.— russian gas imports. so, a perfect storm. we will leave it there, thank _ perfect storm. we will leave it there, thank you _ perfect storm. we will leave it there, thank you so _ perfect storm. we will leave it there, thank you so much, - perfect storm. we will leave it there, thank you so much, wei there, thank you so much, we appreciate that. david marsh, chairman of the official monetary and financial institutions forum. talking about the challenging —— challenges facing germany at the moment stop. financial markets have got the jitters following comments from two central bank governors. andrew bailey of the bank of england has raised concerns over uk economic growth and warned again interest rates will not be cut in the "foreseeable future". christine lagarde, the head of the european central bank, has been expressing very similar views that interest rates are unlikely to fall any time soon and job growth "may lose momentum" towards the end of the year. let's speak now to sunaina sinha haldea, global head at the private capital advisory raymond james. they are not saying anything we have not already heard, have they get markets seem to be on edge about these comments? markets do seem to be on edge because markets are expecting central banks to cut interest rates as growth slows, unfortunately for central banks, their mandate is not to spur growth, that is the mandate of governments, their mandate of governments, their mandate is to control and patient and having been a little late to the party and raising interest rates, none of them i want to to cut interest rates to suit until the inflation is well back in the bottle and we are not there, inflation remains too high and andrew bailey suggesting it will remain higherfor andrew bailey suggesting it will remain higher for longer terms of interest—rate stickiness with inflation to come down from here to the 2% target the bank of england has. do you think both in the eurozone and the uk, we are looking at these interest rates first of all peaked, so in the us —— first of all peaked, so in the us -- uk first of all peaked, so in the us —— uk not going up again but staying where they are for 2020? i staying where they are for 2020? 4' , ., 2020? i think it will depend on how much _ 2020? i think it will depend on how much the _ 2020? i think it will depend on how much the data _ 2020? i think it will depend on how much the data changes, . 2020? i think it will depend on i how much the data changes, that the central banks are looking at. for much of 2024, interest rates will be at only this level. are we at peak, many believe so. enough for a dis— inflationary effect, numbers have fallen enough central banks do not believe they need to raise much furtherfrom here. but inflation has two components, goods inflation and the price of things we go up, there are services inflation when pay goes up, while the price of goods for, someone has to cut wages and we do not know how sticky the inflation is for a number of sources. we have just had interest—rate increases huge runs, takes a few quarters for them to pass through the economy, we have not seen the impact of that, will no more about the trajectory of 2024 by may or june of 2024 when we see the numbers print. june of 2024 when we see the numbers print.— numbers print. when you talk about this _ numbers print. when you talk about this timeframe - numbers print. when you talk about this timeframe i'm - about this timeframe i'm thinking about the election in my mind that has to happen by january 2020 five and how the government wants the economy to be in better shape growing and more favourable statistics and data before they announce a day when we will go to the polls? indeed. the government has set the target of halving inflation, inflation thanks to interest rates has come down quite a bit and is on the path down, they want to spur growth that has to come from government policy changes in policy is pretty constrained because the government has to service its interest it on its interest across the board which is at a much higher level copy so that constrains their ability to do much on the policy side. so we shall see what they can offer to businesses and consumers to get us to invest and spend and that is what will spur growth again. sunaina sinha haldea. thank you for getting up so early. apologies for the porters, we are at the mercy of technology as you are well aware. let's get some of the day's other news now. uk shop inflation has eased to the lowest rate in more than a year as competition increased in the run—up to christmas and food cost growth continued to fall. according to the british retail consortium, annual shop price inflation slowed to 4.3% in november, down from 5.2% last month, the sixth consecutive monthly decline and the lowest rate since june last year. spending online on cyber monday is set to exceed a record $12 billion according to preliminary estimates from adobe digital insights, as shoppers snap up deals on items including barbie dolls, lego sets, headphones and smart watches. these figures represent an almost 10% increase compared to last year's cyber monday. tesla has sued the swedish transport agency after postal workers stopped delivering licence plates connected to the electric car company. the move is intended to support a strike by tesla metal workers in the country. our north america business correspondent michelle fleury has more. workers for the swedish post authority had stopped delivering license plates for the tesla new cars essentially stopping all newly purchased vehicles from becoming road legal. vehicles from becoming road leual. ., ., , ., legal. the move was intended to su ort a legal. the move was intended to support a strike _ legal. the move was intended to support a strike by _ legal. the move was intended to support a strike by tesla - support a strike by tesla mechanics in the country after the us carmaker turned down the request for a collective bargaining agreement, which is fairly standard for sweden. that is when sparks began to fly, on monday tesla filed a lawsuit accusing the country's transport agency and its postal authority of unfairly targeting the electric carmaker. by not giving it access to the register should plates. a few hours later swedish court issued an interim judgement in the favour of tesla, saying it must deliver the plates. in response the ceo elon musk posted nxt social media platform he owns thanking the country. tesla's billion —— billionaire boss is famously antiunion and he has avoided collective bargaining and its global operations. the decision is a blow to the swedish labour movement but not the end of the fight. it movement but not the end of the fiuht. , ., movement but not the end of the fiht. , ., ~ . fight. it is in and michelle fleury will— fight. it is in and michelle fleury will be _ fight. it is in and michelle fleury will be across - fight. it is in and michelle fleury will be across the i fight. it is in and michelle - fleury will be across the next chapter. as the global population continues to grow — how do we make sure we all have enough food to eat? a growing number of companies are looking at how new technology can make our food supplies more reliable. our reporterjonathanjosephs has been to meet some of those putting new things on the menu. cooking up the future of food. some of the world �*s most innovative food companies hope to reach our taste buds through what is on the menu at the london future foo tech summit. most are smaller companies better place to find the breakthroughs that will keep the world fenced off consumers in many parts of the world are eating more meat and as incomes rise unc �*s demand will continue to grow for the next decade or so. that brings many challenges. it decade or so. that brings many challenges-_ challenges. it refused is allowing _ challenges. it refused is allowing the _ challenges. it refused is allowing the cultivation | challenges. it refused is - allowing the cultivation which is growing a cell from an animal into a steak at a factory. the challenge is to get it to grow from one cell to 20 billion cells.— 20 billion cells. critics say meat consumption - 20 billion cells. critics say meat consumption is - 20 billion cells. critics say meat consumption is bad | 20 billion cells. critics say i meat consumption is bad for 20 billion cells. critics say - meat consumption is bad for the environment, growing meat in a laboratory presumably loses a lot of energy which is not necessarily good for the climate stop it is cutting down. it climate stop it is cutting down. , . ., , ., down. it is cutting down use of land and freshwater _ down. it is cutting down use of land and freshwater by - down. it is cutting down use of land and freshwater by 9596. i land and freshwater by 95%. probably you could get those in the shops from five — ten years. the shops from five - ten ears. ., ., the shops from five - ten ears. . ., ., y the shops from five - ten ears. . ., ., , , ., years. food technology is not 'ust years. food technology is not just about — years. food technology is not just about new— years. food technology is not just about new ways - years. food technology is not just about new ways to - years. food technology is not just about new ways to make | just about new ways to make food but making better use of what we already have. this denmark company is one such, what are you doing here? we are u . what are you doing here? we are u- clina what are you doing here? we are uo cycling grain _ what are you doing here? we are up cycling grain when _ what are you doing here? we are up cycling grain when the - up cycling grain when the brewer has extracted the sugar in the starch from the grain, we are transforming them or processing —— processing them into flour which can be used in all types of food where you use flower. ~ ., , all types of food where you use flower. ~ . , , ., ., flower. what is it you do differently _ flower. what is it you do differently to _ flower. what is it you do differently to other - flower. what is it you do - differently to other companies? we have an algorithm we take 100 types of grain every time we produced one of our standard types of flower it is cemented by the algorithm.— types of flower it is cemented by the algorithm. why does the world have _ by the algorithm. why does the world have to _ by the algorithm. why does the world have to up _ by the algorithm. why does the world have to up cycle - by the algorithm. why does the world have to up cycle when - by the algorithm. why does the world have to up cycle when it i world have to up cycle when it comes to flu?— world have to up cycle when it comes to flu? the world is not caettin comes to flu? the world is not getting bigger _ comes to flu? the world is not getting bigger we _ comes to flu? the world is not getting bigger we need - comes to flu? the world is not getting bigger we need to - getting bigger we need to utilise the resources already available to us. it utilise the resources already available to us.— available to us. it is thought available to us. it is thought a billion people _ available to us. it is thought a billion people around - available to us. it is thought a billion people around the l a billion people around the world are obese. so some companies are trying to make what we do have healthier. blue tree is one of those, what are you doing?— you doing? we developed a technology _ you doing? we developed a technology that _ you doing? we developed a technology that enables - you doing? we developed a technology that enables to | technology that enables to reduce sugar from natural beverages such as fresh juices, milk beer and wine. beverages such as fresh 'uices, milk beer and wineh beverages such as fresh 'uices, milk beer and wine. after three ears is milk beer and wine. after three years is set _ milk beer and wine. after three years is set to _ milk beer and wine. after three years is set to hit _ milk beer and wine. after three years is set to hit supermarket| years is set to hit supermarket shelves for the first time. you have concerns people will see your technology and a product and think it is healthier i can have more even if it is not a healthy option? we have more even if it is not a healthy option?— healthy option? we want to enable people _ healthy option? we want to enable people to _ healthy option? we want to enable people to get - healthy option? we want to enable people to get more | enable people to get more healthier products. and it will be up to them to know exactly how much they will consume of it. ~ , ., how much they will consume of it. . h, ., , how much they will consume of it. ., ,~ ., , how much they will consume of it. with so many challenges a lot of new — it. with so many challenges a lot of new recipes _ it. with so many challenges a lot of new recipes will - it. with so many challenges a lot of new recipes will be - lot of new recipes will be needed to keep the world fit. around the world and across the uk, this is bbc news. announcer: bbc news - bringing you different stories from across the uk. at the central methodist hall, in coventry, volunteers have come together to put on the £1 panto. it's called cinderballer, and it's a take on cinderella — but the twist here is she wants to play football, rather than go to the ball. # like a diamond in the sky... cinderballer actually is poor, and she has an evil stepmum, and she has dreams of being a massive football player. and the dream is to just show young kids and everyone else that anyone can follow their dreams. gareth southgate and sarina wiegman, the national team coaches, are in the cast. european champions and world cup finalists this year! cheering and i manage the men's and we've won... - anyway! cinderballer runs from 4—9 december, and the details on how to go are on fridays' social media accounts. you're live with bbc news. we are looking at the top business stories. bytedance, the owner of tiktok, has confirmed it will significantly downsize its gaming business after reports ofjob cuts. the beijing—based company entered the gaming market in 2019 to compete with industry leader tencent, but it has failed to grab market share since. let's get more on this and cross over to our asia business hub and suranjana tewari is there. tell us more about bytedance and its changes. we tell us more about bytedance and its changes.— tell us more about bytedance and its changes. we had reports that there _ and its changes. we had reports that there will _ and its changes. we had reports that there will be _ and its changes. we had reports that there will be some - and its changes. we had reports that there will be some job - that there will be some job cuts at bytedance, now the company has confirmed they will come from the gaming division which it wants to downsize. they will not say how manyjobs or where in the world people will be laid off but we understand hundreds of employees will be effected. this marks a significant retreat from a segment by bytedance which gave an aggressive push in since 2019, investing billions of dollars, mainly to compete with the market leader tencent, the world's biggest gaming company in terms of revenue but bytedance has failed to gain market share. it has had some hits but not quite the commercial blockbusters it was expecting. the bbc understands the games such as earth revival will continue but titles that have not launched yet will be shut down by december. bytedance says it regularly reviews its businesses and has made the difficult decision to restructure the gaming business. the global videogame market is estimated to be worth $270 billion according to one estimate. bytedance has a hugely popular shot video app, tiktok, but has not had as much success in the potentially blockbuster segment which is gaming. blockbuster segment which is auamin. ., ~ blockbuster segment which is auamin. . ~' today for the first time, a passenger plane will cross the atlantic powered solely by sustainable aviation fuel an alternative seen by the industry as a big tool in getting to so—called net zero. the virgin atlantic flight from heathrow to new york is part funded by the uk government. here's katy austin. how to decarbonise flying is a very big and difficult question. a flight from london to new york today aims to demonstrate part of the answer. traditionaljet fuel is made from fossilfuels, from oil. this plane is being filled with an alternative — 50 tons of it. so—called sustainable aviation fuels or saf can be made from a variety of sources, including crops, household waste and cooking oils. on this occasion a combination of two types is being used. one that is made from waste fats — 88% of the mix. and 12% made from a fuel made out of waste from co