the tensions in the region continue to cast a shadow on the global economy as business leaders and finance ministers gather in washington for the imf and world bank annual meetings. also on the programme — we'll be live from rio, where one of the biggest tech events of the year, the web summit, kicks off — with the future of ai set to dominate the agenda. and sustainable seafood. could a slimy white mollusc known as the shipworm help solve overfishing around the world? as it too early to talk about shipworm and chips. we will do that in this programme. let's start with the events in the middle east. as we've been reporting, the united nations secretary—general antonio guterres has said it's time to step back from the brink after iran launched

hundreds of missiles and drones at israel late on saturday. the situation has already started weighing on global financial markets as we start a new week. the price of safe haven assets such as gold has risen, the price of oil meanwhile is hovering around $90 a barrel for brent crude. when you look at some of the predictions of where it could 90, predictions of where it could go, in the nearfuture if things escalate, it is quite a concern. that is how things are faring in asia right now. joining me now is victoria scholar, head of investment at interactive investor. good morning to you, victoria. markets are on the edge, it's fair to say waiting and watching to see what happens next, tell us what you have been hearing? i next, tell us what you have been hearing?— been hearing? i think the reaction _ been hearing? i think the reaction from _ been hearing? i think the reaction from the - been hearing? i think the reaction from the oil - been hearing? i think the i reaction from the oil market has been quite muted probably

because a lot of the risk around the retaliation from iran was priced and at the end of last week even before it happened, oil rose 1% on friday fuelled by middle east tensions and it had hit a six—month high last week of 26% so far this year. i think we are seeing that risk viewed across markets more broadly, on a number of assets, asian equities slipping overnight the nikkei and the hang seng, it might be a case of indiscriminate selling at the negative start to the week in terms of sentiment. if the negative start to the week in terms of sentiment.- in terms of sentiment. if this does escalate, _ in terms of sentiment. if this does escalate, if— in terms of sentiment. if this does escalate, if you - in terms of sentiment. if this does escalate, if you ran - in terms of sentiment. if this| does escalate, if you ran then retaliates to an israeli response, significant response israel is avowing, you have the strait of hormuz which is a key chokepoint between iran and mine, currently one fifth the global oil production flows through the staley, people are poised to react if things do

escalate?— poised to react if things do escalate? ., ., . ., ., escalate? you are correct a lot of peeple _ escalate? you are correct a lot of peeple are _ escalate? you are correct a lot of people are talking _ escalate? you are correct a lot of people are talking about. escalate? you are correct a lot| of people are talking about the possibility of $100 oil again, money managers have been increasing their positions, their long positions in the oil market recently in terms of futures are trying to, which is why we are but broke and like you say it is about that disruption which is about 70 million barrels a day that but the do have the potential to have a negative impact are trying to weigh up the supply

at the moment we are feeling it when we fill up our vehicles it is hitting us in the pockets? that is one of the big risks for the uk economy when we see will push higher could lead to high inflation again, we know the bank of england and the government have been desperately trying to bring inflation back down under control because of its involvement in the cost of living crisis and the general squeeze on living standards. higher oil could push at various prices across the economy notjust in terms of petrol at the pump but an input cost to many industries like transport, airlines, manufacturing, food and so much more. that is one of the key risks when we think about inflation trajectory that has been moving down over the last couple of years and the lookout for the uk economy and other economies more broadly. tricky, aood economies more broadly. tricky, good to see _ economies more broadly. tricky, good to see you- _ economies more broadly. tricky, good to see you. victoria - good to see you. victoria scholar from interactive investor. —— victoria.

the events in the middle east will focus the minds of central bankers and ministers of finance who are gathering this week in washington dc for the annual imf & world bank spring meetings. the global economy remains in a fragile state, with the imf chief kristalina georgieva recently warning that the world is heading into the "tepid 20s" which will be "a sluggish and disappointing decade". speaking to cbs on sunday, ms georgieva said the uncertainty triggered by the situation in the middle east was weighing on the global economy. any impact as small as it might be, is not desirable in an economy with high uncertainty and inflation still not being brought down to target, very simple, oil prices go up, inflation goes up. so what can be done to bring down uncertainty? is, of course for others from those in politics, and the military from an economic standpoint, the more

we reduce uncertainty, the better. it we reduce uncertainty, the better. , , we reduce uncertainty, the better. , ., better. it is the boss of the international _ better. it is the boss of the international monetary - better. it is the boss of the l international monetary fund. brian coulton is chief economist at fitch ratings. good morning to you brian, the imf report will be out tomorrow and we will get lots of different assessments of the global economy and what is happening, in terms of the situation in the middle east that will be at the forefront? i think it will, if you ask the central bank governors and finance ministers 23 years ago they would still be talking about inflation today, most of them would have cured the problem by then and they clearly have inflation proving more persistent than any of them expected, the last two or three numbers out of the us obscene services inflation pickup, and the last six — nine months or 12 months that has been offset by the fact oil prices have stabilised but now oil prices are going back up again, adding a new element

mix, last mile of getting inflation brought back these developments are. . inflation brought back these developments are. . everyone is desoerate _ developments are. . everyone is desoerate for — developments are. . everyone is desperate for interest _ developments are. . everyone is desperate for interest rates - developments are. . everyone is desperate for interest rates to i desperate for interest rates to come down, for many countries they are at multi—year highs, this could store that process beginning?— this could store that process beginning? central banks are keen to start _ beginning? central banks are keen to start cutting - beginning? central banks are keen to start cutting rates, i keen to start cutting rates, they would like to we saw jerome powell at a meeting got carried away in terms of how much she was encouraging the notion that the federal reserve was ready to talk about rates and we saw markets rally on that meeting and all of that rally in bond prices and declining yields has been reversed as everyone has realised the federal reserve will only cut three or two times is at the beginning of the year they expected six or seven cuts, after that december meeting, that is completely off the table now they will have to be patient here to make sure

underlying inflation is falling. the last two or three numbers have been going in the wrong direction.— wrong direction. what you think the head the — wrong direction. what you think the head the imf's _ wrong direction. what you think the head the imf's comments l the head the imf's comments this will be a decade of sluggish growth, very disappointing decade, the tepid 20s, we are only in 2024, your thoughts?— thoughts? there was a lot of discussion — thoughts? there was a lot of discussion in _ thoughts? there was a lot of discussion in her _ thoughts? there was a lot of discussion in her speech - thoughts? there was a lot of i discussion in her speech about the productivity slowdown, there is not much new there we have known about that for a long time, what is probably more of an issue as the constraints on economic policy. the capacity for central banks to boost growth by cutting rates and expanding balance sheets, that is limited because of the inflation issue and governments have woken up after all this pandemic shock and the subsidies given to support people in the face of the cost of living crisis, governments have got much weaker balance sheets than before, they are spending a lot of money on interest rates. the prospect of money and fiscal support growth in the next five years in the

way they have in the last five — ten years is very much diminished. - ten years is very much diminished.— - ten years is very much diminished. �* . ., ~ , ., diminished. brian thank you, thank you — diminished. brian thank you, thank you for _ diminished. brian thank you, thank you for getting - diminished. brian thank you, thank you for getting out - diminished. brian thank you, thank you for getting out of i thank you for getting out of bed so early. brian coulter from fitch ratings. let's head to brazil now where tech heavyweights are gathering over the next few days to re—imagine the world as we know it. one of the biggest tech events of the year, web summit rio, kicks off today and more than 30,000 people will be in attendance. the future of ai is set to be top of the agenda but the war in the middle east is casting a shadow. let's go live to rio now and speak to craig becker — chief events officer at the web summit. did you get much sleep ahead of this or not?— this or not? well it is 130 in the morning _ this or not? well it is 130 in the morning here, - this or not? well it is 130 in the morning here, so - this or not? well it is 130 in the morning here, so we i this or not? well it is 130 in | the morning here, so we are this or not? well it is 130 in i the morning here, so we are a few hours behind you but we are putting in the finishing touches to everything as you said, everything kicks off today, hence my lovely high—viz jacket. we are in good shape

and very excited. it’s jacket. we are in good shape and very excited.— and very excited. it's busy, bus , and very excited. it's busy, busy. your— and very excited. it's busy, busy, your chief _ and very excited. it's busy, busy, your chief executive | busy, your chief executive forced to step down last year following comments he made on the israel — hamas, war. some big heavyweights pulled out of the event, amazon and others. have you managed to sort this out? ~ , ,, , , , out? web summit events this is the second _ out? web summit events this is the second event _ out? web summit events this is the second event of— out? web summit events this is the second event of the - out? web summit events this is the second event of the year- out? web summit events this is the second event of the year we j the second event of the year we have had lisbon and qatar this is the third event with rio we expect 30,000 people, a huge growth from last year, 40% growth from last year, 40% growth for us as an event, a thousand plus start—ups coming, we have hundreds of investors, we have hundreds of investors, we have hundreds of investors, we have 500 global, we have many speakers with us as well, and obviously the partners, we

have sales force, we have who are way we have ibm were all here, tojoin us. are way we have ibm were all here, to join us.— here, to 'oin us. what about those here, to join us. what about those ones _ here, to join us. what about those ones i _ here, to join us. what about those ones i mentioned i here, to join us. what about those ones i mentioned to l here, to join us. what about i those ones i mentioned to have pulled out? what about those ones? , , ., ., ., ones? yes, they are not part of this event _ ones? yes, they are not part of this event at _ ones? yes, they are not part of this event at the _ ones? yes, they are not part of this event at the moment. i ones? yes, they are not part of this event at the moment. the | this event at the moment. the ones i mentioned are. so we are driving forward here with... that has been a bit of a blow? yes, but to be honest paddy is back as ceo, he has taken some time to talk to some of the web summit friends, he has listened to what the community wants, now we are focused at driving the event forward and bringing communities together, driving the meaningful connections which is what our event is all

about, we bring people from all over the world, the most diverse and largest group of entrepreneurs come to our events and they are talking about the latest, the hottest topics that are taking place. as you mentioned in your introduction, without doubt, 100%, it is featured across all of our stages, ai, 100%, it is featured across all of ourstages, ai, does 100%, it is featured across all of our stages, ai, does not matter which police —— tech track you listen to, ai will feature. i am looking forward to hearing ibm will affect them as a business, the chief impact opposite is with us to talk about that, we have got more ai start—up than ever before, everybody having to be thinking about it. we have the ai cabin stage, which looks at al in everyday life. it will be the feature for absolute certain. for people who are going, what do hope will get from this?

will they be equipped, there is a lot of buzz about new technology but with new technology but with new technology there is any risk, new regulation potentially, and a new legal hurdle, a lot to consider?— a new legal hurdle, a lot to consider? , ., , , consider? yes, there really is, even only _ consider? yes, there really is, even only a — consider? yes, there really is, even only a year— consider? yes, there really is, even only a year ago _ consider? yes, there really is, even only a year ago ai - consider? yes, there really is, even only a year ago al was i even only a year ago al was just been discussed from the point of view of all the cool things they could do, but now there is lots of discussion about regulation and it is the same with many things, the reason so many policymakers come to our events because they want to listen to the conversations with the new emerging companies, the future businesses, what they are talking about, what they need, what support they need from government and what support they need from industries around them. they all come to our events and they listen and they try and get ahead of everything. the technology world moves very, very quickly. so, craig, when can you relax? well, i suppose i have a few days of this but we are all

ready prepping for toronto which is injune and... this ready prepping for toronto which is in june and... this is never over. _ which is in june and... this is never over. you _ which is in june and... this is never over. you are - which is in june and... this is never over. you are on i which is in june and... this is never over. you are on a i never over. you are on a hamster wheel. it never over. you are on a hamster wheel.- never over. you are on a hamster wheel. it is a never endin: hamster wheel. it is a never ending thing. _ hamster wheel. it is a never ending thing. we _ hamster wheel. it is a never ending thing. we take i hamster wheel. it is a never ending thing. we take so i hamster wheel. it is a never i ending thing. we take so much from the events, we bring new things to each one every time. it's a fun place to be.— it's a fun place to be. thank ou for it's a fun place to be. thank you forjoining _ it's a fun place to be. thank you forjoining us _ it's a fun place to be. thank you forjoining us live i it's a fun place to be. thank you forjoining us live from | you forjoining us live from rio on the eve of your event. chief officer at the web summit. craig becker. around the world and across the uk, this is bbc news.

let's carry on with the business coverage on the bbc. samsung has once again taken the top spot in global smartphone sales. the latest numbers from the research firm idc shows shipments for apple iphones dropped about 10% in the first quarter

of this year. that is not good news for apple. let's head over to our asia business hub. joao da silva is there. tell us more? even the globally smart phone shipments were almost 8% apple did not do so well, samsun was the big winner taking more than a fifth of the total global sales share and claiming back the top phone make a spot from apple. the iphone maker was doing better than the previous quarter but south korea's samsun launched its new galaxy is 24 �*s smart phone series at the beginning of the year which is obviously doing very well with consumers right now. besides samsun's new smart phone line up i—phone was contending with a slowdown in china which is its third—largest market, shipments there had already shrunk more than 2% at the end of last year, chinese consumers have

been more cautious, with the economy not doing so well, they are less keen to spend on things like cellphones. there is also a huge competition from china's own smart phone bands, one of the top smart phone makers took third place after samsung and apple and global shipments in the first quarter, and others like huawei have continued to gain market share as well. apple fans are keen for updates on how they will update ai into the devices, apple has so far said very little about it so investors are hoping for news that could give shares in the smart phone make a boost. apple was overtaken by microsoft as the world's most valuable company earlier this year. more now on india. as the country goes into election mode, its economy is in sharp focus.

the incumbent prime minister narendra modi is riding the wave of massive infrastructure development — roads, highways and metro lines are being built in india at a pace some say is reminiscent of china's heyday. 0ur india business correspondent nikhil inamdar has this report from kolkata. kolkata, a city of rusty trams and trafficjams. crossing the stretch across the mighty river usually takes up to 30 minutes. but a shiny new underwater metro line has just come into operation. significantly reducing travel time. this is india's first underwater metro line, we havejust plunged 100 feet under the river that connects kolkata with the twin city on the other bank. this is

just one example of the ambitious upgrade that many of india city public infrastructure is finally getting. a swanky bullet train another, a show piece project of the prime minister narendra modi. the upcoming high—speed rail route $15 million well connect the financial capital mumbai were direct. the infrastructure has been a key driver of india's gallopin gdp and projects are getting completing faster than ever. the timelines have shrunk, they used to be five years, six years, seven years, have come to two years, 2.5 years three years, india hasjumped 38 places higher. years, india has “umped 38 places higher. criss-crossing the country _

places higher. criss-crossing the country to _ places higher. criss-crossing the country to unveil - places higher. criss-crossing the country to unveil these l the country to unveil these mega projects, has spent in india's prime minister, narendra modi. his government has spent over $100 billion every year for has spent over $100 billion every yearfor the last has spent over $100 billion every year for the last three. building highways and bridges. this infrastructure focus is expected to pay rich election dividends for the prime list. but has it come at the expense of other parts of the indian economy?— of other parts of the indian econom ? ~ . .,, �* economy? agriculture hasn't done well — economy? agriculture hasn't done well and _ economy? agriculture hasn't done well and it _ economy? agriculture hasn't done well and it supports i economy? agriculture hasn't done well and it supports a l done well and it supports a large part of the population, they suffer because of that. the other area which is a little weak household consumption does not even half of the world gdp growth. but overall, it's a good story. narendra modi will be hoping his infrastructure bit will spur large—scale industrial growth and create jobs.

spur large—scale industrial growth and createjobs. a major missing piece in india's growth story. now, before we go, how does shipworm and chips sound? no, me neither. but it could be the answer to the issues of unsustainable fishing. in the uk, 80% of all seafood sold comes from just 5 varieties — salmon, cod, haddock, prawns and tuna. eating what is known as the �*big five' puts pressure on a handful of wild stocks and creates demand that drives unsustainable fishing and farming practices. now, researchers believe a species called the shipworm — sometimes known by the more appetising nickname the "naked clam"— offers a sustainable alternative to the big five. i'm joined now by kenneth bodles — head of innovative conservation — marine

conservation society uk. good morning to you. are you eating shipworm, have you tasted these little wrigley things? i tasted these little wrigley thins? �* ., things? i can't say i've had the opportunity _ things? i can't say i've had the opportunity to - things? i can't say i've had the opportunity to try i things? i can't say i've had the opportunity to try but l things? i can't say i've had the opportunity to try but i will give it a go, they are a very interesting innovation in our city we very much welcome this, it is blue sky thinking and this move to innovative research and into what is quite an interesting potential choice as you mentioned in your introduction, we have certainly got an overreliance on traditional seafood options. the big five is mentioned, we consume around 900,000 tons of seafood in the uk every year and 80% of that is of the big five. the shipworm or the naked claim could be a potential option for us in the future.

you would need a lot of them to fill up? have a decent meal? they are very little, very small? , ., , small? they are indeed, they are very small— small? they are indeed, they are very small but _ small? they are indeed, they are very small but very i are very small but very powerful, they have quite an impact on traditionally, historically rather they would have caused a lot of problems for shipping because they burrow into the front of ship and would cause a lot of damage but they are very small, very impactful,... but they are very small, very impactful.---_ but they are very small, very impactful, . .. impactful,... impactful not in taste? i assume, _ impactful,... impactful not in taste? i assume, say - impactful,... impactful not in i taste? i assume, say impactful they can do harm? in taste? i assume, say impactful they can do harm?— they can do harm? in their natural environment i they can do harm? in their natural environment they i they can do harm? in their- natural environment they can't do harm but they are found, there is research ongoing to examine how they could be farmed as a viable alternative to the big five, they are found in large tanks, they have a sea

border, they are very nutritious, we believe, they can be supplemented as well by nutrients within their feed, that could be seaweed for example which is another growing... d0 example which is another growing- - -_ example which is another growing. . . example which is another rurowin... ~ growing... do you think we will actually see — growing... do you think we will actually see this _ growing... do you think we will actually see this on _ growing... do you think we will actually see this on the - growing... do you think we will actually see this on the menu i actually see this on the menu soon or sold at supermarkets? i don't think we will see them anytime soon at the supermarkets, as you said in your introduction it would take a very talented cook and a clear bring marketing to persuade people to eat it and the naked claim or shipworm, but it could be a viable alternative for overreliance on the traditional seafood choices. the traditional seafood choices-— the traditional seafood choices. ., ., ~ choices. you would think we would need _ choices. you would think we would need other— choices. you would think we i would need other alternatives as well as this, we love our fish and fish and chips, and those various options are diminishing, the big five, as we mentioned?— diminishing, the big five, as

we mentioned? , . we mentioned? very much so the marine conservation _ we mentioned? very much so the marine conservation society i marine conservation society takes 600 ratings force hundred and 20 species of fish available to buy in the uk, you can check the ratings online, gives you the sustainable advice on what potential choices you might have out there, we have done all the hard work for you and we can, you can download the guide from the website. diversification is good for the environment and also supports local communities and producers.— and producers. kenneth, thank ou for and producers. kenneth, thank you for talking _ and producers. kenneth, thank you for talking us _ and producers. kenneth, thank you for talking us about - and producers. kenneth, thank you for talking us about it, i you for talking us about it, the mind boggles, i have to say many in touch on social media ljy many in touch on social media by x to say you are not so sure. i'll see you soon. hello there. some turbulent weather ahead for the next day or two. low pressure's driving in off the atlantic, giving heavy, thundery and intense showers, spray and standing water,

so tricky conditions on the roads, particularly when you add in the strength of the wind. look at the tightly packed isobars. there will be strong to gale—force winds buffeting the uk during much of monday and into tuesday, and it's coming down from the north—west. in fact, as we head towards tuesday, it starts to come down from the north, so it will feel much colder than it has. temperatures below average. so, we've got some heavy, showery rain pushing its way southwards on a weather front. lots of heavy showers following in behind in colder air, so snow over the mountains. it takes longest to get to southern and eastern areas but temperatures hold up above freezing because of the strength of the wind which takes us through the day today. this line of really intense rains giving some tricky travel conditions, the winds picking up to strong gale—force around the coasts in the west and the south, and lots of showers with hail, with thunder, with snow over the hills and mountains across northern ireland, scotland, possibly the pennines. look at the temperatures — just 9—12 degrees celsius, and it will feel colder still when you add on that wind that will be buffeting the uk. so, squally winds near those showers which continue well into the night and into tuesday.

by that stage, our low pressure's moving out into the north sea, so the winds come down from the north again — enough of it, we think, to prevent a frost in many areas, just like we'll see in the morning the glens of scotland, really. but that cold northerly wind will continue to feed showers into particularly central and eastern areas, fewer further west, but there will be because of the northwesterly, some coming into the west of scotland and into northern ireland but perhaps fewer showers in the west generally compared with monday. but a bracing wind in the north sea coast — 40—50 mph gusts of wind, still holding on for the likes of east anglia so, again, it will feel cold, despite 12—14 inland. i suppose, outside the wind, outside the showers, with more sunshine around, it will feel a little more like mid april. but we have to get to the end of the week to see high pressure building in because still on wednesday, we've got low pressure in charge towards the east. these weather fronts rounding western areas, just giving patchy rain or drizzle, so things start to settle down later — in fact, temperatures pick up

as we head towards friday as well.

good morning, welcome to breakfast with sally nugent and jon kay. 0ur headlines today. world leaders move to de—escalate the tension in the middle east

after iran launched drones and missile at israel. the middle east is on the brink. the people of the region are confronting the real dangers of a devastating full—scale conflict. israel says it reserves the right to retaliate. iran says the strikes were an act of self defence. after rafjets took part in operations to shoot down the missiles, the prime minister is expected to explain the operation to mps later. detectives investigating the fatal stabbing of six people at a shopping centre in sydney say the attacker may have deliberately targeted women. 0ne motorist group says the more has to be done to reduce the number of

potholes but what is the