from new york. michelle fleury reports. we should get further evidence there is slowdown in the job markets. employers are growing more cautious and employees are sticking around longer. one caveat should see some distortion to the numbers, the auto and actors strikes both endedin auto and actors strikes both ended in november with many returning to work that same month. plus, the end of the year is when many seasonal workers get taken on. american central bank, the federal reserve, it will be watching closely because lowerjob growth will feel expectations the pheasant will leave rates on hold. they have risen 5% from nearly zero since march of last year as it wrestled to bring down inflation. thejobs report is a lot of economics data before the us central bank's meeting next week. despite expectation for a slowdown, america's labour market remains strong by historical standards. still, market remains strong by historicalstandards. still, if historical standards. still, if economist historicalstandards. still, if economist frequently used word resented talk about the economy into thousand 23 they may be looking for a new word in 202a. —— resilient to talk about the economy and 2023. steven blitz is chief us economist at ts lombard in new york. how key are the figures? i think they are more important for the market and probably not quite as impactfulfor for the market and probably not quite as impactful for the for the market and probably not quite as impactfulfor the fed. i think what you are reporting is accurate in terms of the markets focus now has shifted from the latest inflation numbers to the latest labour numbers to the latest labour number and tomorrow morning, later your day, number and tomorrow morning, lateryour day, is number and tomorrow morning, later your day, is going to be the start of that. now, the numbers can be a little confusing because you have about 40,000 or whatever it is, returning workers between the auto workers and hollywood, because of the end of those strikes. we have to look at the details. unemployment, we expect a weaker number. in relation to the october number will be key. but the marketable key off on these and there will be much more of a reaction if the net number is zero against 300,000. but the focus now is exactly on that and the markets, aim that the fed is going to is in a benign environment and i'm not quite as confident about that. the us economy really _ as confident about that. the us economy really does _ as confident about that. the us economy really does keep - as confident about that. the us economy really does keep the l economy really does keep the odds. but there is talk now, possibly, of deflation. i mean, is that credible?— is that credible? deflation? well, ithink— is that credible? deflation? well, i think you _ is that credible? deflation? well, i think you see - is that credible? deflation? well, i think you see some | well, i think you see some deflation in goods prices already, some deflation and some of the service prices for transporting goods to market, so you see some of that but actually service inflation remains very stubborn and i do not buy into— look, if you have a recession and unemployment goes up to 5%, not forecasting that but let's say for arguments sake, clearly that will bring down prices and inflation and that is something the fed has been saying for a long time and most economists agree with that. the question is, ok, if that happens, the economy recovers, what does inflation look after that? you may get a temporary number like that, not so much in services but certainly in goods prices, energy, food as well, and then we will have to set on and i think there is a lot of reason to expect a higher inflation profile down the road, even if you get something like that deflation you're talking about in the near future.— you very much. anna macdonald is senior equity analyst at sustineri global investment in edinburgh. good morning to you and thank you forjoining us. a lot of announcements we are waiting on over the coming weeks and months. with the ecb, what is the expectation come the new year? the expectation come the new ear? ., , ., ., ., the expectation come the new ear? ., ., ., year? the european area has seen inflation _ year? the european area has seen inflation rates - year? the european area has seen inflation rates really - seen inflation rates really fall quite rapidly, from a height of over 9% not long ago, to the mid—2%, so the markets in europe are also pricing in quite a decline in interest rate expectations, it is currently around four x 5%, the ecb rate, but they are starting to present some cuts. —— 4.5. the german market at an all—time highjust a couple of days ago and a lot of enthusiasm there will be cut to rates. ~ . ., ~ ., rates. what about the bank of encland, rates. what about the bank of england, there _ rates. what about the bank of england, there is _ rates. what about the bank of england, there is a _ rates. what about the bank of england, there is a decision i england, there is a decision coming up. uk inflation compared to the eurozone and the us is stubbornly high. it is higher, yes. us inflation around 3% and we have god the uk that make europe at 2% and the uk at 4% or 5% so yes, it is higher. we have more influence, our input costs are higher, our energy costs are higher, our energy costs are higher so it is more stubborn here and so we are seeing interest rates likely to remain higher for longer interest rates likely to remain higherfor longer in the uk. we higher for longer in the uk. we were 'ust higher for longer in the uk. we were just hearing quickly from stephen about the world watching as to what comes out of these figures from the us. just how key are they for for example the uk and the eurozone? i example the uk and the eurozone?— example the uk and the eurozone? ~' ,, ., , eurozone? i think the us has been an incredibly _ eurozone? i think the us has been an incredibly resilient l been an incredibly resilient economy, as you were discussing, but what happens in the us and how resilient that consumer remains which drives 70% of the economy is important for the rest of the world. markets always anticipate what they think is going to happen and we have sent in uk and us rates that you can get by buying longer term bond for quite rapidly and we have seen quite rapidly and we have seen quite a rally in the equity market as well so if their assigned the market has got that wrong, and that the jobs data is not as expected, you could see a bit of a reaction quite quickly in equity and bond markets.— quite quickly in equity and bond markets. to brussels now, and a row over government finances that has split european countries for years. the european union normally has strict rules on member states balancing their books and how much debt they can take on as a proportion of their economies. the so—called stability and growth pact was put aside during the pandemic when borrowing soared — but it's due to come back in, from january. italy has racked up debts equivalent to 140 percent of its economy — well over twice what's allowed under the pact. but several other states will also fall foul of the rules — even france now has debts of 112% of its gdp. let's speak to lena komileva from g plus economics. a financial and economic consultancy based in the city of london. it does make you think whether the present rules, are for purpose. they date back to 1997. ., ., , 1997. you are absolutely right and the simple _ 1997. you are absolutely right and the simple answer - 1997. you are absolutely right and the simple answer is - 1997. you are absolutely right and the simple answer is no, | and the simple answer is no, they are not fit for purpose. the original criteria of the so—called stability and growth pact, a budget deficit of 3% of gdp and a public that target of 60%, they date back to 1997 but they became sustainable all the way back to the global financial crisis when governments had to step in to stabilise financial institutions. —— became unsustainable. then they became politically contentious when fiscal austerity deepened europe's stagnation and oppress potential growth, essentially locking government into higher debt and gdp ratio and then the pandemic. most recently they were suspended under emergency rules in 2020 and they are simply operational impossible to follow now. support for government... from government to the economy has ballooned to over 100% now. countries such as italy, it is much higher. we need to adapt to the build of today and challenges of tomorrow.— today and challenges of tomorrow. , ., tomorrow. things are so, so different _ tomorrow. things are so, so different and _ tomorrow. things are so, so different and we _ tomorrow. things are so, so different and we have - tomorrow. things are so, so different and we have to - tomorrow. things are so, so i different and we have to factor in things like climate change. we have had conflicts in several regions. what sort of options around the table? have they had long enough to discuss this and put them back into place injanuary? is this going to be bit of a fudge? fix, place in january? is this going to be bit of a fudge?- to be bit of a fudge? a fudge is always _ to be bit of a fudge? a fudge is always a — to be bit of a fudge? a fudge is always a possible - to be bit of a fudge? a fudge is always a possible in - is always a possible in europe's political negotiations and this will mark the combination of marks a very hard behind—the—scenes talks. the key thing is to restore transparency and visibility and accountability in order to avoid a new sovereign debt crisis through a sovereign downgrade at a time when the cost of debt is double when it was before the pandemic. but a deal is also very important and neededin deal is also very important and needed in order tojust deal is also very important and needed in order to just deliver more realistic deficit and debt reduction but also things like climate change, economic and geopolitical challenges we face today. there is a difference of agreement on how you are reform its rules. some states want a longer time to implement an improvement through stronger economies, in other words structural reforms and public sector investment. to register gdp by growth. countries like germany would like reduction plans over the shorter time. a deal is possible somewhere in between. we deal is possible somewhere in between. ~ , ., between. we will see what happens- _ between. we will see what happens. thank _ between. we will see what happens. thank you - between. we will see what happens. thank you very i between. we will see what - happens. thank you very much indeed. let's get some of the day's other news now. millions of uk consumers could receive payouts after a legal claim was launched against mobile phone networks. the lawsuit alleges that vodafone, ee, three and o2 overcharged customers who stayed with them once their phones were paid off after the end of their contract. it is seeking damages of more than £3 billion pounds on behalf of 4.8 million people. responding, ee called the claim "speculative", while 02 said it hadn't been contacted. vodafone said it didn't have sufficient detail for its legal team to assess, and three declined to comment. elon musk has renewed his attacks on disney boss bob iger in a series of posts, saying he should be "fired immediately" and that "walt disney is turning in his grave "over what bob has done to his company." disney is among companies including apple, comcast and ibm, that have paused advertising on musk�*s platform x — formerly known as twitter — amid concerns over antisemitism. hundreds of oxfam shop and office workers are striking for the first time in the uk charity's 81—year history. unite union members rejected a pay offer in last ditch talks and will strike for 17 days over christmas. unite said the strike of nearly 500 workers will affect 200 shops. coming up can the cruise ship industry chart a course for next year? stay with us. around the world and across the uk, this is bbc news. vmcsovsk: bbc news - - bringing you different stories from across the uk. billed as the future and powered by green energy, this is just a taster of what's to come in the south—west. vehicles running on clean power. some are the first prototypes of their kind in the world. others are already in operation. we see lots of electric cars on the road right now, but it's the other bigger, heavy vehicles and the vessels, they will start to become clean probably post—2030. and we're going to see a big shift in how things are. and this, another world first. we have built a zero—emission all—terrain off—highway vehicle which is destined for places like the mining industry, the quarrying industry, airport operations. and at the moment, we have a prototype vehicle which is drivable and is the first one in the world. for more stories from across the uk, head to the bbc news website. you're live with bbc news. to the video games business now, because one of the most successful titles in the world could be about to get bigger. fortnite already has more than 400 million registered players. now its developer, epic, has joined forces with toy giant, lego, to try to appeal to younger players. but the move is proving controversial. our technology correspondent, marc cieslak, has more. the massively popular videogame fortnite has launched a high—profile collaboration with lego. while fortnite is famous for blasting buildings and last player standing battle royale, this new game is a survival crafting title, heavily leaning into the crafting element using lego bricks. fortnite is no stranger to controversy, with questions being raised about child safety in the game since it first launched. it has in—game purchases which used to be loot boxes and it has the ability to talk to other players so when i am talking to parents, what i wanted to make sure is they understand that experience before they handed over to their child. so how has its developer epic games address these issues when working with famously family friendly lego? we have been on a journey, you do not implement these features in a week or a day. these are things that we have been building for years and years so one of the things that we recently implemented was a rating system so each piece of content is rated appropriately for the audience and we allow, through our parental controls, the parents to decide what type of content their kids will be able to see. it is clear this collaboration between lego and fortnite is about making the fortnite ecosystem more appealing to younger players. but for game what has attracted criticism from a wide variety of different quarters — parent groups, even prince harry — is seeking ever younger players a wise move? you can apply some of the criticism levied at fortnite to video games in general, a lot of it is how are interacting with other people on the internet. and it is a battle royal by its nature, you're going to be in combat and there are people who, that is not what they're interested in or there are people who are a bit too young for that, like with lego. there are already lots of lego video games but does collaborating with fortnite create a particular risk for the company? every calibration and everything that you do, especially things that are ambitious, there are a lot of of unknowns, you do not know how the game is going to land. let's see if it manages to build its makers an even bigger audience. marc cieslak, bbc news. let's turn to the cop28 global climate summit in dubai because the hosts, the united arab emirates, say they're cautiously optimistic, world leaders will commit to winding down the use of fossil fuels. cop28 president, sultan al—jaber, is also the head of the uae�*s state oil company — two roles some critics have said are incompatible. and the bbc has revealed the uae has been planning to use the summit to negotiate oil deals. for this week's talking business programme, aaron heslehurst has been speaking to former bp boss, lord browne, who now runs a green investment firm. he asked him whether the row has overshadowed the summit. definitely hung over the conference. my own view is this, i have always since 1997 have always been saying the oil and gas industry has defied a proper solution for the company sitting out there is a problem. the better we engage them, the better they see concern people have over them. and the fury in some cases. there are banners out there that's a bad oil, and oil, all of the sort of things. it is actually good the oil industry sees that. they need to see there are many sites of the story. they cannot say, well, we're here because we are here and you need us and we won't do anything, that is it. that arrogance does not work at all. the world has to replace oil and gas by expanding the clean energy. maybe one day nuclear fusion. clean energy. maybe one day nuclearfusion. my last clean energy. maybe one day nuclear fusion. my last meeting here was on the concept of nuclear fusion. here was on the concept of nuclearfusion. and how nuclear fusion. and how possibly nuclearfusion. and how possibly for the very first time this is something that would be delivered, notjust on the horizon forever. there is renewable energy, geothermal, pumped hydro, all sorts of things like that. lots of ways and making energy. we need to invest in it all. that is the issue with oil and gas, they are there because there is no substitute for that when there is a substitute, they will certainly shrink.- is a substitute, they will certainly shrink. nearly 30 ears certainly shrink. nearly 30 years ago _ certainly shrink. nearly 30 years ago when _ certainly shrink. nearly 30 years ago when you - certainly shrink. nearly 30 years ago when you saw i certainly shrink. nearly 30 i years ago when you saw this change coming, do you now think we are doing enough?— we are doing enough? we're doinu we are doing enough? we're doing enough _ we are doing enough? we're doing enough now. -- - we are doing enough? we're doing enough now. -- not. we are doing enough? we're - doing enough now. -- not doing doing enough now. —— not doing enough. we can be tested by the amount of money going into change. change of the industrial system, energy transition, industrial transition, industrial transition, round to green, whatever you call it. spending about $1.3 trillion, $1.5 trillion on that today. depending on who you speak to, the minimum is like let's multiply it by three or it could be more than that. we need to do that immediately. and you can get lots more on the challenges of decarbonizing the world economy on this week's talking business weekly here on the bbc news channel. finally, let's stay with that story because heavily polluting industries are under scrutiny at the cop28 summit. the shipping industry contributes around 3% of global co2 emissions. but cruise ships produce more carbon dioxide every year than any other kind of ship, due to air conditioning, heated pools and other hotel facilities. since the end of the pandemic, cruise holidays have been enjoying a huge rebound. but some european capitals are taking a stance on pollution and banning the floating cities from their harbours. the cruiseline industry says it will hit net zero targets by 2050. let's find out how likely that is and discussed the subject. marie—caroline laurent is director general of the europe cruise lines international association. hello and thank you forjoining us. will they hit the net zero targets? us. will they hit the net zero taraets? ~ ., ., ~ ., ., targets? we are working on and uuite targets? we are working on and quite confident _ targets? we are working on and quite confident we _ targ