confidence to invest in china is at a record low. one of the biggest shipping lines is explaining why the red sea crisis is contributing to the problems for shipping goods around the globe. there will be problems for the global economy of all these problems continue to grow. wherever you are joining all these problems continue to grow. wherever you arejoining me all these problems continue to grow. wherever you are joining me from around the world, hello. but first, ever since the end of the second world war, peace and prosperity had been tied together the global trade. selling stuff to other countries. is that now unravelling? amid growing hostilities, politicians are putting up hostilities, politicians are putting up more barriers to trade. in particular when it comes to the technology of the future. youssef imposed a range of new tariffs on china. with regard to electric vehicles in particular. the eu is also putting tariffs on electric cars from china. if talks fail to sort out the differences, there will be tariffs on europe's farmers from china. why is this happening? everyone wants control of the technology of the future. politicians want to create jobs in the hopes of winning votes. {hind politicians want to create jobs in the hopes of winning votes. china is roducin: the hopes of winning votes. china is producing far _ the hopes of winning votes. china is producing far more _ the hopes of winning votes. china is producing far more than _ the hopes of winning votes. china is producing far more than the - the hopes of winning votes. china is producing far more than the rest - the hopes of winning votes. china is producing far more than the rest of| producing far more than the rest of the world can is up so. there will be excess products on the mark kit with low prices driving other manufacturers out of business. i want competition with china and not conflict. we want competition with china and not conflict. ~ . ., want competition with china and not conflict. ~ _, _, , ., conflict. we welcome competition. but this competition _ conflict. we welcome competition. but this competition must - conflict. we welcome competition. but this competition must be - conflict. we welcome competition. but this competition must be fair. | but this competition must be fair. this is_ but this competition must be fair. this is protectionism. what we are doing _ this is protectionism. what we are doing is_ this is protectionism. what we are doing is in— this is protectionism. what we are doing is in fully in line with eu rules — doing is in fully in line with eu rules. . , , , doing is in fully in line with eu rules. ., , , , ., ~ rules. china disputes that. when it comes to the _ rules. china disputes that. when it comes to the us _ rules. china disputes that. when it comes to the us and _ rules. china disputes that. when it comes to the us and china, - rules. china disputes that. when it comes to the us and china, it - comes to the us and china, it lurking in the background are the widespread tariffs that they put on each other�*s exports. they are being keptin each other�*s exports. they are being kept in face by presidentjoe biden. china has rejected us allegations of dumping. it says it wants fair competition on electric vehicles. we should keep an open mind and work closely— should keep an open mind and work closely together. rejects block conference plantation. maintain the stability— conference plantation. maintain the stability and smoothness of industrial supply chains. promote chain— industrial supply chains. promote chain and — industrial supply chains. promote chain and liberalisation. we should lead and _ chain and liberalisation. we should lead and promote healthy development. bring together world economic— development. bring together world economic growth.— development. bring together world economic growth. meanwhile china has been growing — economic growth. meanwhile china has been growing its _ economic growth. meanwhile china has been growing its trade _ economic growth. meanwhile china has been growing its trade links _ economic growth. meanwhile china has been growing its trade links with - been growing its trade links with russia as a result of economic pressure from the west. many camps on a siding with them or the west. companies such as ikea, nikkei and apple. they are thinking about where they make their staff. world trade organization has said that global trade has fallen i.2% organization has said that global trade has fallen 1.2% last year. only the third fall in 30 years. the international monetary fund is warning that if the world splits into two trading blocs, it could cost the world economy nearly seven and a half trillion dollars in the long term. irate and a half trillion dollars in the long term-— and a half trillion dollars in the long term. and a half trillion dollars in the lona term. ~ ., , .,, long term. we have seen in the last few years. — long term. we have seen in the last few years, especially _ long term. we have seen in the last few years, especially when - long term. we have seen in the last few years, especially when it - long term. we have seen in the lastj few years, especially when it comes to global trade relations, it is nothing like we have seen since the end of the cold war. the last few years we have had numerous shops including the pandemic, russia's invasion of ukraine and following these events, increasingly countries around the world are guided by economic security and national security concerns in determining who they trade with and who they invest in. ~ . they trade with and who they invest in. . ., ,., . they trade with and who they invest in. . ., . , they trade with and who they invest in. ., , in. what impact is all this happening _ in. what impact is all this happening on _ in. what impact is all this happening on the - in. what impact is all this i happening on the companies in. what impact is all this - happening on the companies on the front line of these differences? ever since china opened its doors to foreign trade at the end of the 19705, thousands of american and european companies have become reliant on it for manufacturing. and also, increasingly as a place to sell their stuff. also, increasingly as a place to sell theirstuff. i also, increasingly as a place to sell their stuff. i decided to catch up sell their stuff. i decided to catch up with the president of the presence of the european union chamber of commerce in china. it is great to have you on the show. you have just released your annual confidence survey. it doesn't make pretty reading if you are a foreign company operating in china stop just explain what you found. what company operating in china stop 'ust explain what you foundi explain what you found. what is ha enin: explain what you found. what is happening in — explain what you found. what is happening in relation _ explain what you found. what is happening in relation to - explain what you found. what is happening in relation to last - explain what you found. what is| happening in relation to last year is that— happening in relation to last year is that companies are increasingly concerned — is that companies are increasingly concerned about the state of the domestic— concerned about the state of the domestic economy. china's economy and the _ domestic economy. china's economy and the global economy that, there are concerns about china's domestic economx _ are concerns about china's domestic economx it — are concerns about china's domestic economy. it is dragging down sentiments. gn economy. it is dragging down sentiments.— economy. it is dragging down sentiments. , , ., sentiments. on the flip side, how im ortant sentiments. on the flip side, how important are _ sentiments. on the flip side, how important are in _ sentiments. on the flip side, how important are in foreign _ sentiments. on the flip side, how. important are in foreign companies for china's economy? if you look inside china you have problems with youth unemployment, huge debt legacies, it does beg the question how much does in type and a need that investment from abroad to keep its economy running? it is that investment from abroad to keep its economy running?— its economy running? it is in a situation _ its economy running? it is in a situation where _ its economy running? it is in a situation where it _ its economy running? it is in a situation where it is _ its economy running? it is in a situation where it is fairly - its economy running? it is in a - situation where it is fairly complex and dire, — situation where it is fairly complex and dire, everything that generate economic— and dire, everything that generate economic activity is basically welcome. china has been providing hi-h welcome. china has been providing high quality attractive jobs. let welcome. china has been providing high quality attractive jobs.- high quality attractive “obs. let us talk about the h high quality attractive jobs. let us talk about the automotive - high quality attractive jobs. let us. talk about the automotive industry. names such as bmw, volkswagen, jaguar and land rover. how concerned are you that the eu is putting these tariffs in place on electric vehicles made in china? i tariffs in place on electric vehicles made in china? i think the introduction _ vehicles made in china? i think the introduction of _ vehicles made in china? i think the introduction of tariffs _ vehicles made in china? i think the introduction of tariffs is _ vehicles made in china? i think the introduction of tariffs is a - vehicles made in china? i think the introduction of tariffs is a sign - introduction of tariffs is a sign that— introduction of tariffs is a sign that something is out of balance. we do think— that something is out of balance. we do think that something is out of balance — do think that something is out of balance. we need to find a solution the both— balance. we need to find a solution the both europe and china can live with _ the both europe and china can live with we _ the both europe and china can live with. we need to see chinese imports from europe _ with. we need to see chinese imports from europe going up by a third. the chinese _ from europe going up by a third. the chinese economy has moved improved by 30 _ chinese economy has moved improved by 30 to— chinese economy has moved improved by 30 to 40%. on trade balances and the overall— by 30 to 40%. on trade balances and the overall trade relationship, the complete — the overall trade relationship, the complete manifestation of that is the investigation and now the prospect— the investigation and now the prospect of tariffs being introduced. we need both sides to realise _ introduced. we need both sides to realise the — introduced. we need both sides to realise the seriousness of the situation _ realise the seriousness of the situation and sit down and try to work— situation and sit down and try to work out — situation and sit down and try to work out their differences. some estimates suggest _ work out their differences. some estimates suggest that - work out their differences. some estimates suggest that the - work out their differences. fins estimates suggest that the chinese companies are now producing more than half of the world's electric vehicles. i am wondering can these chinese ev companies compete on the international market without subsidies and other government helpful? subsidies and other government helful? ~ ,,., , subsidies and other government helful? ~ , ~ subsidies and other government helful? ~ , . ., ., , helpful? absolutely. we need to keep in mind that part— helpful? absolutely. we need to keep in mind that part of— helpful? absolutely. we need to keep in mind that part of the _ helpful? absolutely. we need to keep in mind that part of the dominance . in mind that part of the dominance of the _ in mind that part of the dominance of the ev _ in mind that part of the dominance of the ev manufacturers have achieved _ of the ev manufacturers have achieved is because of direct and indirect— achieved is because of direct and indirect subsidies. i�*m achieved is because of direct and indirect subsidies.— indirect subsidies. i'm also wondering _ indirect subsidies. i'm also wondering what _ indirect subsidies. i'm also wondering what are - indirect subsidies. i'm also wondering what are the - indirect subsidies. i'm also i wondering what are the other challenges that make it tougher european and other foreign companies to operate in china? i european and other foreign companies to operate in china?— to operate in china? i think there are a number. _ to operate in china? i think there are a number. it _ to operate in china? i think there are a number. it depends - to operate in china? i think there are a number. it depends on - to operate in china? i think there are a number. it depends on the| to operate in china? i think there - are a number. it depends on the type of industry— are a number. it depends on the type of industry you are looking at. for somef _ of industry you are looking at. for some. it — of industry you are looking at. for some. it it— of industry you are looking at. for some, it it there will be reckless to property. if companies operate in the same _ to property. if companies operate in the same way in china as china operates— the same way in china as china operates in— the same way in china as china operates in europe. we have also seen _ operates in europe. we have also seen a _ operates in europe. we have also seen a significant number of instances where new security regulations in general are beginning to impact— regulations in general are beginning to impact the ability of european companies to sell to china. i think it is fair— companies to sell to china. i think it is fair to — companies to sell to china. i think it is fair to say that europe still remains — it is fair to say that europe still remains a _ it is fair to say that europe still remains a significantly dependent on china, _ remains a significantly dependent on china, ratherthan remains a significantly dependent on china, rather than the other way around — china, rather than the other way around. that is in there needs to change — around. that is in there needs to change it— around. that is in there needs to chance. , around. that is in there needs to chante, , ., around. that is in there needs to chance. ,., , ., around. that is in there needs to chance. , ., , ., ., ., change. it is always going to have ou on change. it is always going to have you on the _ change. it is always going to have you on the show. _ change. it is always going to have you on the show. thank _ change. it is always going to have you on the show. thank you - change. it is always going to have you on the show. thank you for. you on the show. thank you for joining me. i you on the show. thank you for joining me— you on the show. thank you for joining me. you on the show. thank you for “oininr me. ., , , , joining me. i cannot believe this is our last joining me. i cannot believe this is your last show- — joining me. i cannot believe this is your last show. i _ joining me. i cannot believe this is your last show. i have _ joining me. i cannot believe this is your last show. i have been - your last show. i have been following _ your last show. i have been following you for the last 20 years. all the _ following you for the last 20 years. all the best in the future and i will see — all the best in the future and i will see you somewhere around the world _ will see you somewhere around the world. . ~ will see you somewhere around the world. ., ~' ,, , will see you somewhere around the world. . ~ ,, , . will see you somewhere around the world. ., ,, , . ~ . world. thank you very much. much appreciated- _ world. thank you very much. much appreciated- no — world. thank you very much. much appreciated. no country _ world. thank you very much. much appreciated. no country export - world. thank you very much. much l appreciated. no country export more goodsin appreciated. no country export more goods in china. the stuff made their is hugely important to the global shipping industry which moves about 90% of all the world's trade. tariffs are just one problem it is facing as it tries to do its bit to keep the global economy moving. at this i have been speaking to the big boss. we are halfway through 202a. we have politicians throwing tariffs around we have disruption in the red sea and congestion in many ports and in the mediterranean. i sea and congestion in many ports and in the mediterranean.— in the mediterranean. i think the situation the _ in the mediterranean. i think the situation the panama _ in the mediterranean. i think the situation the panama canal - in the mediterranean. i think the situation the panama canal has i situation the panama canal has improved. the red sea has been the main issue throughout 202a. there is also some congestion here and there. a bit more than we would have hoped for. but these are the chances we face a day—to—day basis china is hugely important to the global supply chain you have a magus role in keeping the trade going how long does it take to make a difference in the movement of goods? brute does it take to make a difference in the movement of goods?— does it take to make a difference in the movement of goods? we see a seem ve stron: the movement of goods? we see a seem very strong boy — the movement of goods? we see a seem very strong boy today- — the movement of goods? we see a seem very strong boy today. we _ the movement of goods? we see a seem very strong boy today. we need - the movement of goods? we see a seem very strong boy today. we need to - very strong boy today. we need to move stuff — very strong boy today. we need to move stuff now _ very strong boy today. we need to move stuff now before _ very strong boy today. we need to move stuff now before some - very strong boy today. we need to move stuff now before some of. very strong boy today. we need to | move stuff now before some of the tariffs kick in. we need to move production around. people will move production around. people will move production from china to other places in southeast asia. in recent times we have certainly seen more activity in places like mexico and india. then we see flow is changing. luckily, the flows are still there. let us talk more about the red sea situation. , ., ., , ., situation. they are taxes on shipping- — situation. they are taxes on shipping- this _ situation. they are taxes on shipping. this all _ situation. they are taxes on shipping. this all important | shipping. this all important shipping. this all important shipping route for the global economy is going to open any time soon. how damaging as i feel as a company. it soon. how damaging as i feel as a coman . . ,., soon. how damaging as i feel as a coman . . , . ~' soon. how damaging as i feel as a com an , ., , ., " ., ., company. it adds a week or two weeks to rlobal company. it adds a week or two weeks to global supply _ company. it adds a week or two weeks to global supply chains. _ company. it adds a week or two weeks to global supply chains. luckily, - to global supply chains. luckily, all of us have invested in chips over the years. that means today we are able to sail around the cape of good hope. that is the positive side of it but, of course, in the long run it is not a good situation. we hope that by the end of the year the situation will go back to normal. there are significant growing congestion imports in the mediterranean and across asia, dubai, singapore and shanghai. can you explain to the uninitiated what is happening and what it means for the ability to move goods around the world? we the ability to move goods around the world? ~ . , the ability to move goods around the world? . ., , ., world? we have seen that the shi -|n~ world? we have seen that the shipping routes _ world? we have seen that the shipping routes have - world? we have seen that the shipping routes have had - world? we have seen that the shipping routes have had to l world? we have seen that the| shipping routes have had to be changed. it puts a lot of pressure on some ports. they now get a lot more cargo than they typically got before. if you look at all the ports, they get a lot more cargo than from ships that sail around the cape of good hope. that is one factor the. the other factor is that there is a very strong demand across there is a very strong demand across the globe, particularfrom there is a very strong demand across the globe, particular from the there is a very strong demand across the globe, particularfrom the us but also from europe, which means that we need to move more stuff than we did last year. those two things together and we get to a situation like we have today. haifa together and we get to a situation like we have today.— together and we get to a situation like we have today. how much of the [on . er like we have today. how much of the longer route — like we have today. how much of the longer route and _ like we have today. how much of the longer route and the _ like we have today. how much of the longer route and the congestion - longer route and the congestion added to your costs? does it mean that the consumer will end up paying more? if that the consumer will end up paying more? ., ., ~ that the consumer will end up paying more? ., ., ~ ., ., that the consumer will end up paying more? ., ., ., , more? if we look at our rates compared — more? if we look at our rates compared to _ more? if we look at our rates compared to six _ more? if we look at our rates compared to six months - more? if we look at our rates compared to six months ago, more? if we look at our rates - compared to six months ago, and we see that our rates are at 30 or a0%. that is simply because there is less space available on the roots. with a very strong demand, we see rates going up. as we sail around africa, we have to sell faster. we burn a lot more feel.— we have to sell faster. we burn a lot more feel. does that mean that these extra — lot more feel. does that mean that these extra costs _ lot more feel. does that mean that these extra costs end _ lot more feel. does that mean that these extra costs end up _ lot more feel. does that mean that these extra costs end up getting i these extra costs end up getting passed onto the consumer? yes these costs end up — passed onto the consumer? yes these costs end up getting — passed onto the consumer? yes these costs end up getting passed _ passed onto the consumer? yes these costs end up getting passed on. - passed onto the consumer? yes these costs end up getting passed on. it - costs end up getting passed on. it is difficult to make it as judging what is passing on costs and what is simply the market. [30 what is passing on costs and what is simply the market.— what is passing on costs and what is simply the market. do you think that we are approaching _ simply the market. do you think that we are approaching the _ simply the market. do you think that we are approaching the time - simply the market. do you think that we are approaching the time of - simply the market. do you think that we are approaching the time of the l we are approaching the time of the year when companies want to move goods to us for the christmas period? i am seeing reports that 50% of ships are already seeing delays. could we be seeing disruption when it can to what is available to buy in the shops at christmas time? i do not exect in the shops at christmas time? i do not expect that- _ in the shops at christmas time? i do not expect that. if _ in the shops at christmas time? i if not expect that. if we look at the amount of cargo gets moved today, it is significantly up to what we saw last year. reliability is lower than one would have expected, but it is better then it was this time last year. if people have ordered goods early, i do not see a risk of there being a shortage in the shops for christmas. . ~ being a shortage in the shops for christmas. ., ,, , ., ., , ., christmas. thank you for your time. what does all _ christmas. thank you for your time. what does all of _ christmas. thank you for your time. what does all of this _ christmas. thank you for your time. what does all of this mean - christmas. thank you for your time. what does all of this mean for- christmas. thank you for your time. what does all of this mean for the l what does all of this mean for the health of the go global economy? for my final interview i have been catching up with the head of the world trade organization. this is seconds puzzle macro. this is second macro we have huge disruption because of the tax on ships in the red sea. the us and china are imposing tariffs on each other. ngozi, how do we tackle these challenges? brute ngozi, how do we tackle these challenges?— ngozi, how do we tackle these challenues? ~ ., , . ., , challenges? we are seeing increasing protectionism — challenges? we are seeing increasing protectionism and _ challenges? we are seeing increasing protectionism and the _ challenges? we are seeing increasing protectionism and the undermining i challenges? we are seeing increasing protectionism and the undermining of wt0 rules _ protectionism and the undermining of wt0 rules. some of this is leading wto rules. some of this is leading to fragmentation of global trade. it is part— to fragmentation of global trade. it is part of— to fragmentation of global trade. it is part of the lifeblood for making countries — is part of the lifeblood for making countries resilient. it is also for grow— countries resilient. it is also for grow pawn _ countries resilient. it is also for grow pawn for growth. trade between like—minded blocks is growing faster than the _ like—minded blocks is growing faster than the trade across such blocks. that is— than the trade across such blocks. that is some indication of what is happening — that is some indication of what is happening with fragmentation. this is not _ happening with fragmentation. this is not something we would like to see _ is not something we would like to see 0h _ is not something we would like to see. on the other hand, i do want to say that— see. on the other hand, i do want to saythat in_ see. on the other hand, i do want to say that in spite of all these problems, trade has also shown remarkable resilience. we are seeing a rebound _ remarkable resilience. we are seeing a rebound in — remarkable resilience. we are seeing a rebound in 2024. two point 5%. with— a rebound in 2024. two point 5%. with all— a rebound in 2024. two point 5%. with all the — a rebound in 2024. two point 5%. with all the money from subsidies, they are pouring all of this money into green technology. i am kind of wondering are the roots of global trade needing and updates to make that competition fairer? absolutely. that is a very _ that competition fairer? absolutely. that is a very important _ that competition fairer? absolutely. that is a very important point. - that competition fairer? absolutely. that is a very important point. we l that is a very important point. we are very— that is a very important point. we are very much supportive of getting to net— are very much supportive of getting to net zero— are very much supportive of getting to net zero by 2050. there is nothing — to net zero by 2050. there is nothing in _ to net zero by 2050. there is nothing in our rules and discourages countries _ nothing in our rules and discourages countries from doing this. we support— countries from doing this. we support it. it is a question of how. ifyou _ support it. it is a question of how. if you subsidise research, for instance. _ if you subsidise research, for instance, that is very good. what we want to _ instance, that is very good. what we want to avoid is a subsidy race to the bottom. you asked about rules. i strongly— the bottom. you asked about rules. i strongly believe that some of our rules, _ strongly believe that some of our rules, we — strongly believe that some of our rules, we do need to look at them. we are _ rules, we do need to look at them. we are facing an existential threat with climate change. we need to fi-ht with climate change. we need to fight it— with climate change. we need to fight it in— with climate change. we need to fight it in everyday we can. it can be done — fight it in everyday we can. it can be done with it rules. the fight it in everyday we can. it can be done with it rules.— fight it in everyday we can. it can be done with it rules. the last few ears, be done with it rules. the last few years. the — be done with it rules. the last few years. the worry _ be done with it rules. the last few years, the worry for _ be done with it rules. the last few years, the worry for many - years, the worry for many governments has been inflation. for the likes of the uk, europe and the us, it is back under control. are they controls of these new tariffs from the eu and the us that they could spark a cycle of trade restrictions and push inflation back up restrictions and push inflation back up once again make things more expensive for consumers around the world? ~ ., ., , , expensive for consumers around the world? . ., ., , , ., expensive for consumers around the world? ~ ., .,, , ., world? will tate has been a positive for inflation- — world? will tate has been a positive for inflation. a _ world? will tate has been a positive for inflation. a series _ world? will tate has been a positive for inflation. a series of— world? will tate has been a positive for inflation. a series of talent - world? will tate has been a positive for inflation. a series of talent of. for inflation. a series of talent of hikes _ for inflation. a series of talent of hikes and — for inflation. a series of talent of hikes and retaliatory tariffs could spark _ hikes and retaliatory tariffs could spark a _ hikes and retaliatory tariffs could spark a round of inflation. that could _ spark a round of inflation. that could be — spark a round of inflation. that could be detrimental to consumers. we have _ could be detrimental to consumers. we have seen this movie before. in the i930s _ we have seen this movie before. in the 1930s we had the tally eatery tariffs _ the 1930s we had the tally eatery tariffs i— the 1930s we had the tally eatery tariffs. i do hope that we will not enter— tariffs. i do hope that we will not enter into — tariffs. i do hope that we will not enter into that kind of year again. ngozi. _ enter into that kind of year again. ngozi. our— enter into that kind of year again. ngozi, ourfriend enter into that kind of year again. ngozi, our friend from the sum national— ngozi, our friend from the sum national monetary fund has described global— national monetary fund has described global tensions is nothing like we've — global tensions is nothing like we've seen since the end of the cold war~ _ we've seen since the end of the cold war. ~ ., , ., ., we've seen since the end of the cold war. ~ ., i. ., . ., we've seen since the end of the cold war. . ., , ., ., . ., ., war. would you agree? what we are lookin: at war. would you agree? what we are looking at the _ war. would you agree? what we are looking at the moment _ war. would you agree? what we are looking at the moment is _ war. would you agree? what we are looking at the moment is these - looking at the moment is these nations, some will support the eu, samuel support china and russia. what are your worries if the global economy continues down this path of fragmentation? brute economy continues down this path of fragmentation?— economy continues down this path of fragmentation? we are worried about rlobal trade fragmentation? we are worried about global trade tensions. _ fragmentation? we are worried about global trade tensions. we _ fragmentation? we are worried about global trade tensions. we think - global trade tensions. we think sometimes trade is unfairly blamed for sometimes problems in the economy _ for sometimes problems in the economy. it is also used sometimes as an _ economy. it is also used sometimes as an instrument to solve problems that it _ as an instrument to solve problems that it is _ as an instrument to solve problems that it is ill— as an instrument to solve problems that it is ill suited to solve. there — that it is ill suited to solve. there are _ that it is ill suited to solve. there are a lot of elections going on around — there are a lot of elections going on around the world in major countries _ on around the world in major countries. to some extent, the political— countries. to some extent, the political season lends itself to this kind — political season lends itself to this kind of tension. we are keeping our fingers — this kind of tension. we are keeping our fingers crossed that we will go through— our fingers crossed that we will go through this year 2024 elections as quickly— through this year 2024 elections as quickly as— through this year 2024 elections as quickly as possible.— quickly as possible. ngozi, let me end on this- _ quickly as possible. ngozi, let me end on this. this _ quickly as possible. ngozi, let me end on this. this is _ quickly as possible. ngozi, let me end on this. this is my _ quickly as possible. ngozi, let me end on this. this is my last - quickly as possible. ngozi, let me end on this. this is my last showl end on this. this is my last show the bbc. i have interviewed you with pleasure many many times. but you now have less than a year of your four—year term to go, so i have to ask you, are you going to run for a second term or do you want to join me and and go into retirement? i love that. i have a few more months to go _ love that. i have a few more months to go there — love that. i have a few more months to go. there is more talk now about the next _ to go. there is more talk now about the next term. i am reflecting on it. i the next term. i am reflecting on it i am _ the next term. i am reflecting on it i am not — the next term. i am reflecting on it. i am not there yet. state tuned in the _ it. i am not there yet. state tuned in the next — it. i am not there yet. state tuned in the next few weeks and months. i will in the next few weeks and months. will do that. in the next few weeks and months. i will do that. on that point point, dr ngozi okonjo—iweala, always a pleasure. thank you forjoining me. before you go, i would say that you are the _ before you go, i would say that you are the most when the most lively and engaging and intelligent interviewers that i have had the pleasure — interviewers that i have had the pleasure of talking to. i want to wish _ pleasure of talking to. i want to wish you — pleasure of talking to. i want to wish you the very best. don't say goodbye — wish you the very best. don't say goodbye i— wish you the very best. don't say goodbye. i hope you still see you on the scene _ goodbye. i hope you still see you on the scene i— goodbye. i hope you still see you on the scene. i look forward to more interaction. — the scene. i look forward to more interaction, perhaps in another guise — interaction, perhaps in another ruise. �* , ., interaction, perhaps in another ruise. ., interaction, perhaps in another ruise.�* ., ,, interaction, perhaps in another ruise. ., ,, guise. i'm blown you a kiss. see you soon. guise. i'm blown you a kiss. see you soon- that — guise. i'm blown you a kiss. see you soon- that is — guise. i'm blown you a kiss. see you soon. that is it _ guise. i'm blown you a kiss. see you soon. that is it for— guise. i'm blown you a kiss. see you soon. that is it for this _ guise. i'm blown you a kiss. see you soon. that is it for this week's - soon. that is it for this week's show. this is my very last show for the bbc. after 30 years in tv news and over 22 of those here, it is time to close this chapter. it has been an early writings i started at the bbc. going from this... thankfully people don't buy a box of apples. this is the oldest toy shop in the world. we are live across the globe and it is time for the many news that matters. this is a cockpit heaving with a notice technology. to make sure we are transported safely to all corners of the world. what is start the programme! what keeps you awake at night? go away and leave me alone. i have a big day tomorrow. going from that young boy, to presenting all of our business shows across the network. i have had the immense privilege of getting to interview thousands of the world's biggest corporate leaders across all sectors. it is also of course, been an interim edible privilege to work alongside some of the most skilled and talented producers and colleagues right here at the bbc. i thank them all from the bottom of my heart. to you, it has been an absolute delight having you orjoin me on thisjourney. absolute delight having you orjoin me on this journey. i accomplished what i set out to do and that is to deliver the business news in an accessible and informative manner. with a little bit of fun and entertainment thrown into the mix. so again, thank you for watching, thanks for putting up with me. and as i legs at the end of my interviews, all the very best my friend, i hope to see you soon. goodbye. hello there. well, it's certainly now feeling cooler than it was earlier on through the week, and we'll see that cooling trend continue somewhat as we head through tomorrow and into next week. but through the weekend it is set to stay largely dry. some sunny spells around, but just some rain for central areas of the uk still as we head through this afternoon. and that rain is going to be pushing in from the west, some of it possibly a little heavy at times, but most of it is going to be light and patchy and there will be some spots of drizzle, i think, just easing into the midlands, where there'll be plenty of cloud as we head through the rest of the day. cloudy, too, across south—west england and south wales. to the north and to the south of that front there will be a lot of sunshine around, just some showers pushing into north—west scotland. still rather windy here. best of the sunshine hazy at times across south—east england and east anglia, and it's going to be feeling rather warm here, with highs of perhaps 22 to 25 celsius, but cooler, the high teens further north and west. overnight tonight, then our front continues to sink further southwards and eastwards. so cloudier across the south—east and it is going to be a mild start to the day here, but clearer spells developing further north and west here, underneath the clearest of the skies, temperatures could drop back into single figures again. a scattering of showers across the north of scotland. now, tomorrow there should be plenty of dry weather around, but it is going to be a cloudier looking day than today. a few isolated showers, mostly down the spine of the country here. some finer weather into the evening, but it will be feeling cooler with temperatures in the high teens, perhaps 20 degrees celsius towards the south of england. but we've got more of a north—westerly wind blowing, so some cooler—feeling air generally. and then into monday we look out towards the atlantic to see these weather fronts that are going to be pushing eastwards through the day, bringing with it spells of rain. so we're expecting some wet weather, particularly across north—west scotland, down through northern ireland, stretching into wales and south—west england as we head through the morning into the afternoon. it'll take its time, that front, to get to eastern areas of england. so we should stay largely dry in wimbledon until we get to the end of the day. but it will be feeling rather cool for the time of year. temperatures on the disappointing side, and they won't really improve very much as we head through the week. there's more rain in the north and the west. it's a little drier towards the south. bye—bye for now. live from london, this is bbc news. president biden vows to fight on after a poor debate performance against donald trump, but the new york times joins the call for him to drop out of the race. reform uk leader nigel farage insists that secret filming that caught a campaigner using racist language to describe the prime minister was a "set—up". iran will hold a run—off election, after no candidate wins a majority in the first round of the presidential vote. few people answer the call for volunteers in the search on tenerife for missing british teenagerjay slater. glastonbury, one more time! and dua lipa headlines the first night of glastonbury. hello, i'm lucy grey. president biden has come under more pressure to stand down from the race for the white house with an editorial in the influential new york times newspaper calling on him to drop out, saying it's in the best interest of america. it followed his widely criticised performance in thursday's tv debate with donald trump, when he stumbled over words and at times seemed to lose track of what he was saying. mr biden remains defiant — at his first campaign rally since the debate, he told supporters in north carolina that the us itself was at stake in november's election, calling his opponent a genuine threat to democracy. directly addressing concerns about his age, mr biden told the rally he'd been knocked down but would get back up. our north america correspondent david willis reports. fired up by a faithful crowd, joe biden took to the stage in the swing state of north carolina, seemingly unfazed