Will be a — of strike of consumers. This will be a massive _ of strike of consumers. Ti 3 china to pick up more containers you have a huge shortage of shipping capacity, i6% of shortage of shipping capacity, i6% of the world's capacity of ocean container ships goes through these ports on an annual basis, so these last few weeks you will start to see major backups and shortages, it would be really bad for the economy. Would be really bad for the economy— would be really bad for the econom. , ~ *~~~ economy. Openai has a $6. 6 billion as _ economy. Openai has a $6. 6 billion as they _ economy. Openai has a $6. 6 billion as they continue economy. Openai has a $6. 6 billion as they continue to. Economy. Openai has a $6. 6| billion as they continue to bet on artificial intelligence. This brings a value of chat bt —— of the chat bt maker to the amount similarto —— of the chat bt maker to the amount similar to goldman sachs. It's one of them would microsoft. Openai's latsko banker and they are cheaper than nvidia. Prices havejumped by around i% as tensions in the millers continued to stoke fears. The region is the world's biggest supply of oil and many are concerned and wider conflict would impact oil supplies. It's get more details from our indian business correspondent. What is a concern for india? given that india gets a large chunk of its energy needs catered to by the middle east, this is certainly something that a lot of experts are watching very closely because given the fact that since the ukraine war india has been a big beneficiary of discounted russian oil, but in august, if you look at the figures, over 14% of india's energy needs were catered to by the middle east, so therefore any kind of wider conflict in the region could have far—reaching implications on the indian economy is still heavily oil —dependent as well. Just to put things in perspective, according to estimates, two—thirds of india's oil as well as half of india's lng comes from the strait of animals. If there is a wider conflict, these supplier mines could be impacted and directly have economic ramifications on india's growth story. Remember, indian inflation has now only slowly started coming into control giving a huge sigh of relief of the central bank, but if this is a long drawn conflict, it would have a direct impact on prices rising, it would force their central bank to keep rates higher, which is something of a concern given the fact that india has been touting and continues to been touting and continues to be one of the fastest growing economies in the world, poised to become the third largest economy in the world, but this is something experts point out qualify that. . . Inaudible thank you very much. We qualify that. . . Inaudible thank you very much— you very much. We 'ust got audio from i you very much. We 'ust got audio from him. H you very much. We just got audio from him. Our you very much. We just got i audio from him. Our business correspondent in india. Tessa has seen a jump in deliveries in thejuly to september quarter. It follows two quarters of declines in the company has been facing slowing demand and strong competition in china, especially from b why d. Tesla said to unveil a rubber taxi in california next week. To japan next. The new government faces economic challenges like an ageing and shrinking population. The value of its currency has been in the spotlight this year. The central bank pumpkin 25 trillion yen into the currencies market to shore up the yen. That is a whopping 173 billion dollars. Japan now finds itself on the us treasury's watch list of potential currency manipulators. We spoke to the manipulators. We spoke to the man who alleges the worchester defendant the move. Translation: it defendant the move. Tuna/mom defendant the move. Translation: ,. , , translation: it is the opposite of manipulation. _ translation: it is the opposite of manipulation. We _ translation: it is the opposite of manipulation. We have of manipulation. We have corrected the market. Myjob is to observe data diligently, and after 20 years we have come close to understanding the markets. Actually, we can never fully understand markets, but is like science, we can get 0. 1 millimetres closer to how markets might move. This persistent _ markets might move. This persistent weakness markets might move. This persistent weakness in markets might move. This persistent weakness in the yen, reflect where japan is compared to when it was the second biggest economy in world? translation: the power of the currency reflects i the power of the nation. If you want the yen to strengthen, we need the economy to be stronger. We are finally seen investment and wages rise. We have a chance to go back to a normal market economy. What in your view is needed especially under the new government in order to revitalise the economy? translation: opening up japan's labour market and making it flexible is important. Japan's population is shrinking, which reduces our competitive edge. Japan should welcome that so we can have people compete and work together and innovate. If we make progress this spring, with the foreign labour force which we enter continue, also with our ageing population these measures will be critical to addressing the labour shortage. I read your recent report in which you warned about japanese companies reinvesting its profits overseas, but not injapan. Is there anything — that is up to the private sector, isn't it, but is there anything the government or the public sector can do to encourage that kind of reinvestment of profits? translation: it's unfortunate, but those businesses have decided that they are not great opportunities or investment in japan. The solution is simple — we need to make a japan stronger. We need to strengthen our economy further. Japan's index is currently trading around 2% higher and do check out mariko's online article who's earned a nickname japan's �*yen tsar�*. He was a convicted last week after pleading guilty to five of 30 five charges he faced including accepting gifts while serving as cabinet minister. Let's get to our reporter who is outside the supreme court. Get us up to speed with where things are. By, get us up to speed with where things are— things are. A lot of anticipation things are. A lot of anticipation here i things are. A lot of anticipation here outside the high court in central singapore or. Proceedings have begun and thejudge or. Proceedings have begun and the judge has or. Proceedings have begun and thejudge has been giving some remarks, really drilling into what the prosecution has asked for, what the defence lawyers have argued as well. The judge so far has really focused on whether he did abuse his power these business dealings by accepting those gifts worth more than $300,000. They include tickets for football matches, musical tickets, flights, hotel stays, and even a brompton bicycle. He has already been convicted for those charges, including obstructing justice and for the charges accepting gifts while he was in public service, and we do understand that a sentence has come through. Let mejust sentence has come through. Let me just update you, and it seems that iswaran has been given 12 months injail. That is a sentence that has been handed down. This of course has, this case has been given a lot of attention because singapore really prides itself on its squeakyclean government. This idea that a senior minister, a cabinet minister could be taking gifts in return for furthering could be taking gifts in return forfurthering business for furthering business interests has forfurthering business interests has been really shocking for the country. We will wait to see whether iswaran, whether —— when iswaran, whether —— when iswa ran starts iswaran, whether —— when iswaran starts his prison sentence. — iswaran starts his prison sentence. . , ~ ,. , ,. Sentence. Thank you very much. Thank you _ sentence. Thank you very much. Thank you for— sentence. Thank you very much. Thank you for your _ sentence. Thank you very much. Thank you for your company sentence. Thank you very much. | thank you for your company here on business today. More on this story in the hours ahead. Bye—bye for now. Hey, i'm ben and this is the catch—up. Tonight, smuggling drugs in banana boxes, a stranded ship update, and christmas in october. But first, israel has said that eight of its soldiers have been killed in lebanon as they continue their ground offensive against hezbollah. It comes after iran, which supports hezbollah, fired 180 missiles at israel last night. Israel's prime minister said iran would pay for their attack. A flight organised by the uk government to evacuate british nationals from lebanon is expected to land at birmingham airport shortly. These sisters are on board the flight. As the situation is out of line, i don't have any other option. We don't know when we will be back, so we will stay hopeful that it will not be for long and we will come back to our precious country. Some of the stories now. A crime boss from scotland has been jailed for 20 years for trying to smuggle cocaine into the uk in benign boxes. —— banana. Jamie stevenson admitted to directing the operation would soar about £100 million worth of the drug brought in from south america. A cruise ship, which was stranded in belfast forfour months, is still moored just off the coast. Passengers say they have been told they will leave for france tonight, but the belfast harbour website says they will not set off until thursday evening. Time now for ten seconds of christmas in october. You may think it is too early to be hearing mariah carey and michael buble, but yesterday marked the first day of christmas celebrations in venezuela with lights going up around the country as the festivities began. The earlier the better for me. You are all caught up. Have a good night. Hello there and welcome along to sportsday. A night of shocks in the champions league, holders real madrid have stunned with bayern munich also on the end of a defeat. Sinner�*s incredible winning streak comes to an end after a sensational performance from carlos alcaraz in the final of the china open. And on the eve of the women's t20 world cup, we'll hear what's in store as the uae steps in to host. Hello there, and welcome along to the programme. It really has been an evening of shocks to tell you about in the champions league, and there was no bigger surprise than in france where the holders real madrid were beaten by lille. It was jonathan david's goal that proved the difference, his first—half penalty giving lille a famous 1—0 win over the 15—time champions. Real pushed for an equaliser late on, but couldn't find it. The loss ending a 1a—match unbeaten streak for the spanish giants in the competition, stretching back to may last year. Another of the standout results and performances on wednesday belonged to aston villa as they beat one of the favourites, bayern munich. It's been a long time for the home side to taste a european night like this, having won the competition back in 1982 after beating the same opposition. Nestor mcgregor was at villa park for us. Villa park may be quiet now, but during the 19 minutes, it was deafening. A memorable night here, the venue hosting top—flight