the company finalises a guilty plea for a criminalfraud charge. and we'll be marking national berry month and reflecting on britain's big berry boon. live from london this is business today. the british government has announced a partnership between great british energy and the crown estate to deliver billions of pounds worth of investment in renewable energies. great british energy is the product of a manifesto promise to bring forward a state—owned company to deliver secure and affordable clean energy. now there's to be a major collaboration with the crown estate which controls much of the inshore seabed around the uk and a major portfolio of land. the crown estate estimates this partnership will lead to 20 to 30 gigawatts of new offshore wind developments reaching seabed lease stage by 2030,

enough power for the equivalent of almost 20 million homes. live now to chris wheaton, managing director, 0iland gas at stifel financial. thank you very much forjoining us. explain to us what gb energy is. it us. explain to us what gb energy is-_ us. explain to us what gb ener: is. , ., , ., , ., energy is. it is ambitious and that is a great _ energy is. it is ambitious and that is a great place - energy is. it is ambitious and that is a great place to - energy is. it is ambitious and that is a great place to start. that is a great place to start because the uk has amazing renewable energy capacity and needs to make that work for the nation. a key political risk is trying to address of bill's spiking like we saw in 2022 and the practicality of delivering thatis the practicality of delivering that is going to be about changing the energy mix in an energy transition from the current fossil fuel heavy one to one that is far more renewable. that will take a lot of money and that means they need to bring as much capital

to bear as possible to unlock some of the issues faced by renewable energy rollout in the country. read connection taking up country. read connection taking up to ten years for example, the rollout of new technology such as hydrogen and carbon capture storage. nuclear. what this is about is trying to bring more money to try and solve the problems of the energy transition for the next 20 or 30 years.— energy transition for the next 20 or 30 years. what will this do for energy _ 20 or 30 years. what will this do for energy prices - 20 or 30 years. what will this do for energy prices at - 20 or 30 years. what will this | do for energy prices at home? the clear political target here is to get bills down and labour repeated that endlessly throughout the campaign and throughout the campaign and throughout the campaign and throughout the period of government so far. that is the number one priority in terms of how it will be judged. however there is a much bigger chance and much bigger opportunity where you need to measure success and that is how much growth and how manyjobs bring is for britain. so far the

energy transition has involved a lot of spending and investment that is gone elsewhere outside britain. britain is one of the major offshore wind markets in the world and yet all the benefits of that have gone to supply chains elsewhere such as europe, denmark for example is a big global offshore wind manufacturer. you need to bring some of that supply chain a lot of that supply chain onshore so you need to increase local content requirements and make sure the revolution is built here in britain. presumably that is no — here in britain. presumably that is no easy _ here in britain. presumably that is no easy task. - here in britain. presumably that is no easy task. we . here in britain. presumably| that is no easy task. we are talkin: that is no easy task. we are talking about _ that is no easy task. we are talking about enormous - that is no easy task. we are - talking about enormous amounts of investment. you spoke about up of investment. you spoke about up to 30 gigawatts of capacity being released ready by 2030. that means not anywhere near production at all. to get that generation will have to come into play or come into service with a ten or 20 year lifespan

and at the moment for example there are 70 watts of offshore wind capacity manufacturing capacity. you are talking about installing 30 or a0 gigawatts of additional offshore wind by 2050. by 2035. so you are talking about very big numbers compared to the existing manufacturing capacity available in europe. improving the capacity is going to be one of the key definitions of success for great british energy because ultimately that will bring jobs and investment. it will also ensure that the energy transition is managed. at the moment we risk and energy cliff edge in the energy transition in the uk, moving away from historic fossil fuel energy mix towards a renewable energy mix towards a renewable energy mix. we need to transition off the cliff edge, with issues around the windfall tax and issues around existing energy infrastructure they need to be managed to make sure we

do not have the risk of doing the exact opposite. it could in the exact opposite. it could in the increasing the risk of bills going up.— the increasing the risk of bills going up. thank you for “oininr bills going up. thank you for joining us — bills going up. thank you for joining us there. _ heading out to brazil. finance ministers from the g20 major economies are to grapple later over the question of a global billionaire's tax. the host nation brazil has been mobilising some countries to agree a special tax for ultra—high net worth individuals, but it's unlikely to get unanimous buy—in according to g20 officials. live now to vinicius rodrigues, associate professor of economics and international relations at the fundacao armando alvares penteado. thank you forjoining us. this is an interesting issue for brazil to be pushing. why is it so important? _ brazil to be pushing. why is it so important? thank - brazil to be pushing. why is it so important? thank you - brazil to be pushing. why is it so important? thank you very much for the invitation. in fact president lawler from brazil has an agenda related to

inequality reduction. so that could be a strategy for putting that agenda forward to the rest of the world. and then brazil could advance its social and diplomatic agenda as the president of the g20 during 202a. however reportedly there has been huge opposition from the united states against taxing individuals who are ultra rich. it says that finance ministers shall agree on a compromise across the lines that were proposed before ijy lines that were proposed before by 0ecd countries which is taxation to avoid tax evasion to tax havens. that could be a very good start for these global agenda that is needed to reduce inequality. but global agenda that is needed to

reduce inequality.— reduce inequality. but it is unlikely to _ reduce inequality. but it is unlikely to get _ reduce inequality. but it is unlikely to get full - reduce inequality. but it isj unlikely to get full backing from all countries. exactly. of the countries _ from all countries. exactly. of the countries it _ from all countries. exactly. of the countries it seems - from all countries. exactly. of the countries it seems that i from all countries. exactly. 0f| the countries it seems that the european nations are likely to support brazil's proposal but as i said it seems that the united states is the main opponent to the proposal. there for without any support that is unlikely to be put forward at least the taxation of superhigh ultrahigh individuals who are very much rich without the support of the united states i don't think that agenda shall be put forward in the near future. moreover, considering... the uncertain outcome in the election it seems that future g20 presidents are also likely to reach out to compromise about

that. in reach out to compromise about that. , ., ., , , , that. in terms of other issues on the agenda _ that. in terms of other issues on the agenda the _ that. in terms of other issues on the agenda the cost - that. in terms of other issues on the agenda the cost of - on the agenda the cost of living will be featuring quite high as well.— living will be featuring quite high as well. exactly. all over the world _ high as well. exactly. all over the world particularly - high as well. exactly. all over the world particularly due - high as well. exactly. all over the world particularly due to i the world particularly due to the world particularly due to the war of russia against ukraine there have been concerns about the rising living costs. also after the covid prices have skyrocketed for particular countries. additionally there are also concerns about poor nations. so the g20 seems to tackle those problems, there has been compromise about reduction that has been proposed by authorities. moreover the tools, the instruments to reduce poverty and to ensure access to most of the world's population to food are not clear yet.

population to food are not clearyet. but population to food are not clear yet. but at least a compromise in that regard has been reached among leaders which is a remarkable achievement.- which is a remarkable achievement. ., ,, ., achievement. thank you for “oininr achievement. thank you for joining us- _ achievement. thank you for joining us. live _ achievement. thank you for joining us. live there - achievement. thank you for joining us. live there from. achievement. thank you for i joining us. live there from sao paulo where the g20 finance ministers are convening. turning to the us where shares tumbled on wall street, as investors start to doubt the euphoria around ai. the nasdaq declined more than 3.5%, its worst day since december 2022, after earnings from heavyweights alphabet — the owner of google and youtube — and tesla both failed to impress. for more on the stock sell—off, here's the bbc�*s north america business correspondent michelle fleury in new york the big tech sell—off driving down major us markets. what is behind that? a couple of things. traders are starting to question if they have become too reliant on magnificent

seven, not the film from the 19605 but a group of seven high performing stocks including alphabet, amazon, nvidia tesla microsoft and others. they all finished lower on wednesday. and $13 billion. that is how much google spent on its ai efforts in the last three months. the number spooked investors beginning to focus on the huge sums that are being spent on al and started to question if and when these bets will pay off. elon musk�*s announcement that he was pushing back the unveiling of robo taxes did not help either. price is also an issue as one market watcher told me, tech shares have become too expensive so investors are moving their money into traditional industries in anticipation of rate cuts from the federal reserve. a number of recent reports show progress on inflation will increase the odds that the central bank will cut rates in september. not

everyone was full of doom and gloom. 0ne analyst i spoke to called the sell—off a knee—jerk reaction. we will find out if thatis reaction. we will find out if that is the case next week when more big tech companies report their earnings. the us government publishes its advance estimate of second—quarter gdp growth later. economists are pointing to a pick—up in activity down to increase in consumer spending injune. live now to steven blitz, chief us economist, globaldata at ts lombard. this sounds like a positive news. it is positive and not. there are two things about the gdp numbers. 0ne there are two things about the gdp numbers. one is how did you get there and when you look at the first quarter and you look inside it was actually a very good quarter in terms of

capital spending and final sales without the inventory. the second quarter looks to build stronger coming in around 3.5%. but the egg share from la to 2.5 will be an infantry swing from destocking to stocking in the current quarter. so the devil is in the detail, as they say and then the next part obviously is what is that momentum coming out looking like and it is certainly decelerating in the area of home construction and new home sales and that tends to leak into the economy more broadly. 50 to leak into the economy more broadl. , . ., , broadly. so construction is slowinu broadly. so construction is slowing down _ broadly. so construction is slowing down a _ broadly. so construction is slowing down a little. - broadly. so construction is - slowing down a little. consumer spending clearly driving that growth in consumer spending in an economy like the us is important. what does this mean then for interest rates? they are based on inflation but the economic picture is important as well. it is and i think what

you see right now, you know, it is only a snapshot of the moment because what we see for the moment is an inflation rate running around three and a growth rate running at 2.5. b, softening of the labour market and when you add that up there is no reason for the funds rate to trade at around 5.5% range. it should be a hundred basis points lower. and these things are a dynamic process and by staying at the high real rate at this moment you risk getting at this moment you risk getting a recession later this year or next year and the fed has been very clear that it believes it can achieve its goal by 2% inflation without creating a recession and that means it is time for them to ease. that is

what they have said i expect them to say that next week at their meeting and that is what their meeting and that is what the market has priced in. indie the market has priced in. we will not have _ the market has priced in. we will not have too long to see if you are correct or not. thank you very much forjoining us. boeing will plead guilty to fraud as part of a deal with the us department ofjustice over two fatal 737 max crashes. that's according to a court filing. prosecutors have concluded the planemaker flouted an earlier settlement addressing the two disasters which killed a total of 3a6 people more than five years ago. here's david waddell. this it has been a difficult yearfor boeing. back in january of 737 max flown by alaska airlines was forced to make an emergency landing after a door in the fuselage lou out midflight. the federal aviation administration ordered the grounding of similar boeing 737 max 9 aircraft four weeks.

since then there have been a series of other mishaps including issues with writer pedals and open cargo door, the loss of attire during takeoff and the collapse of a landing gearjust after landing. earlier this month boeing agreed in principle to a charge of conspiring to defraud the faa. it was accused of knowingly making false representations about key software for the 737 max. the us department ofjustice said the company allowed potentially risky work at its factories including out of sequence maintenance and failed to ensure that aeroplane recordkeeping was accurate or complete. the company has now confirmed it has filed a detailed guilty plea agreement including an agreement to pay a fine of $2a3.6 million. that is on top of a previous find of the same amount three years ago following this crash in ethiopian in 2019 and an

earlier crash nearjakarta in 2018. families have crash victims have objected to the deal. they argued it unfairly makes concessions to boeing that other criminal defendants would never receive. those families will be able to file objections within a week for the court decides whether to accept the deal and whether boeing owes restitution to the families of the victims. as part of the guilty plea deal the plane maker has also agreed to spend at least $a55 million over the next three years to boost safety and compliance programmes. around the world and across the uk. this is bbc news.

crowdstrike has promised to improve how it tests software after its faulty content update for windows systems caused a mass global it outage on friday. the cybersecurity company's mistake resulted in problems for banks, hospitals and airlines as millions of pcs

displayed "blue screens of death". let's here now from janet mui, head of market analysis, rbc brewin dolphin. thank you forjoining us. in terms of what went wrong we have clearly been hearing all the different challenges the crowd strike has been facing. is it all now in the clear? thank you for having me. basically there is a bug, a flaw in the upper date that crowdstrike sent to windows users and typically they will have people to check these tests and updates but apparently that has failed so thatis apparently that has failed so that is why the bug, the floor has led to failures across 8.5 million windows computers. in

terms of investor sentiment around crowdstrike since then we saw its share price drop back significantly on friday which is unsurprising. has the share price recovered? ida. which is unsurprising. has the share price recovered?- share price recovered? no, it has not really _ share price recovered? no, it has not really recovered. - share price recovered? no, it has not really recovered. it . has not really recovered. it dropped more than 10% on the first day and so far since the event it has already dropped 27%. analysts remain very cautious because there is a lot of uncertainty. first of all it is a huge damage to the reputation and it is uncertain how it will affect new customers signing whether customers signing whether customers may switch providers and also potential implication on the compensation because, as we know, billions of dollars have been lost by companies that used crowdstrike. so this is potentially a huge problem and analysts have been downgrading ratings a1 mac but

i think there are also analysts who are still positive on the long—term outlook given that this is a leading provider in software security and it is learning how to be better. hopefully this will not be repeated. hopefully this will not be repeated-— hopefully this will not be repeated. hopefully this will not be reeated. ., ~' , . repeated. thank you very much forjoining _ repeated. thank you very much forjoining us- _ when the 202a bitcoin conference meets this week, former president donald trump will take centre stage, delivering the keynote address. he's running for president as the "pro—crypto" candidate and hauling in digital donations. but he wasn't always the staunch supporter he is today. 0ur north america business correspondent erin delmore has the story. not money. volatile. based on thin air. that is how donald trump used to talk about the world's leading crypto currency. he called it coin a scam. but now trump is running as the pro crypto candidate for

president calling for domestic bitcoin production, choosing a running mate with six figures in bit coin holdings and being rewarded with millions of dollars in cash and crypto donations from silicon valley giants. they bet on the trump advance ticket in the hope that it will turn into pro crypto policy if the duo make their way to the white house. this is an industry _ way to the white house. this is an industry that _ way to the white house. this is an industry that has _ way to the white house. this is an industry that has been - way to the white house. this is| an industry that has been under attack in washington. disproportionately so and i think it is completely valid for the industry to stick up for the industry to stick up for itself and defend its interests.— for itself and defend its interests. but not all are convinced _ interests. but not all are convinced that _ interests. but not all are convinced that the - interests. but not all are - convinced that the about-face convinced that the about—face on the value of crypto is authentic.— on the value of crypto is authentic. ~ ., ., ' :: :: , on the value of crypto is authentic. ~ ., ., ':: :: , , authentic. we are not 100% sure if the authentic. we are not 10096 sure if they are _ authentic. we are not 10096 sure if they are saying _ authentic. we are not 10096 sure if they are saying this _ authentic. we are not 10096 sure if they are saying this to - authentic. we are not 10096 sure if they are saying this to win - if they are saying this to win votes or if he truly intends to endorse crypto and embrace it at president.— at president. there is nothing new about — at president. there is nothing new about political _ at president. there is nothing new about political donations| new about political donations from outside groups. money is a big force in presidential elections. but crypto's outsider status in the finance

industry and its targeting by regulators under the biden administration make the appeal to trump. administration make the appeal to trum -. ~ ., administration make the appeal to trum.~ ., �* administration make the appeal totrum.~ . �* , ., to trump. what we're seeing now is continuum _ to trump. what we're seeing now is continuum of _ to trump. what we're seeing now is continuum of the _ to trump. what we're seeing now is continuum of the crypto - is continuum of the crypto industry doing whatever it has to do to buy political friends so that they will prioritise crypto's interest and not being interested in the american people. interested in the american eo - le. , , interested in the american --eole. , , ., ,., people. dennis kelaher runs a ublic people. dennis kelaher runs a public interest _ people. dennis kelaher runs a public interest nonprofit - people. dennis kelaher runs a public interest nonprofit in - public interest nonprofit in washington and says crypto enthusiasts stand to benefit as much as donald trump if not more. , , ., much as donald trump if not more. _ ., , ., much as donald trump if not more. _ ., , much as donald trump if not more. i, ., , ., , more. crypto should be heavily reaulated more. crypto should be heavily regulated and _ more. crypto should be heavily regulated and prosecuted - more. crypto should be heavily regulated and prosecuted and l regulated and prosecuted and instead what we have is the industry firing a money canon to buy politicians to prevent that from happening and to get a very favourable regulator with very weak regulations. drum's keynote address at this years bitcoin conference could solidify his as the crypto candidate. —— trump's keynote

address. july is national berry month. uk shoppers spent a record £850 million on the british summer staple last year alone. in fact, fresh berries — strawberries, raspberries, blueberries and blackberries — continue to be the uk's most popularfruit item. live now to nick marston, who's chairman of british berry g rowers. despite all these growers are finding it tough at the moment. tell us about that. growers are finding it tough. it is frustrating because it is a great and growing market and with a great deal of money to retailers and to uk horticulture. the grower costs have increased by about 30% over three years and quite frankly up till now they have really struggled to recover any of that from supermarkets. so their profitability has declined to appoint where a7% of our membership of our survey said they are no longer making a profit which obviously is not

a profit which obviously is not a sustainable position for any sector. ~ ., , ., . ., sector. what needs to change? supermarkets _ sector. what needs to change? supermarkets need _ sector. what needs to change? supermarkets need to - sector. what needs to change? supermarkets need to engage l supermarkets need to engage with growers. if you look at supermarket retailers from 2021-23 that supermarket retailers from 2021—23 that went up by nearly 15% in the case of strawberries, during the uk season. growers return over the same period in our membership increased by 2% so i think the first thing is about fair shares of resale price inflation. we all know that food price has gone up but our growers do not seem to see a fair share of that. the second part and i am pleased to say that supermarkets are starting to engage is to have an open conversation with the growers about how they make sure growers are financially stable because strawberries are the biggest seller for retailers in june and july so retailers do not want to lose them nor does the public and this can be fixed. ~ ., , the public and this can be fixed. ~ ., . ,, the public and this can be fixed. ~ ., , ., ., fixed. what is your favourite ber ?

fixed. what is your favourite berry? probably _ fixed. what is your favourite l berry? probably strawberries. it is everybody's _ berry? probably strawberries. it is everybody's favourite - it is everybody's favourite flavour but honestly all berries are delicious and particularly during the uk season. i particularly during the uk season. ., ., ., season. i will have to agree with that- _ season. i will have to agree with that. thank _ season. i will have to agree with that. thank you - season. i will have to agree with that. thank you very . season. i will have to agree - with that. thank you very much forjoining us. chairman of the british berry growers. you can read more about the state of berries and the situation that growers face on our website. stay with us here on bbc news. hello. we've got a fairly humid and moist air mass with us at the moment. that's bringing quite a lot of low cloud, some mist and some murk around, as we start thursday. generally, through the day, it's going to continue to feel fairly humid — some spells of sunshine, but also a chance of some rain for some of us. now, across southern counties of england, you can see a bit of rain

likely here, particularly through the morning hours in the south west, probably going to push into the southeast of england by the afternoon. some of that could be quite heavy. a few scattered showers further north, particularly so for northern ireland and for scotland, too, especially in the north and the west. but in between these two areas, quite a lot of dry weather. in the sunnier spells, temperatures up to about 2a degrees, but i think most of us, we're looking at about 16 to 22. now, into thursday evening, some more spells of rain moving through the english channel, affecting southern counties of england for a time. some scattered showers continue to move in from the north. but the cloud moves away towards the south east, so still a reasonably humid night across parts of east anglia and the south east — 15 degrees or so. but most of us, a cooler, fresher feel to friday morning, and that fresher air will continue to roll in on a westerly breeze behind this weather front on friday, so a real change in the feel to the weather. with that fresher air comes more sunshine on friday. still a few showers, here and there, particularly so for northern ireland and for scotland, but there could be one or two elsewhere across england and wales. dry and bright for many, though, especially towards the south. in the east, top temperatures up to about 2a degrees in the warmest spots,

most of us, typically, 18 to 22 on friday. rolling into saturday, still a lot of dry weather, but you can see a few showers moving in from the west, potentially affecting northern ireland, scotland, western parts of england and wales. down towards the south east, you're more likely to avoid any of those showers. higher pressure holding on here and temperatures again between about 16 to 22 degrees. but this big area of high pressure builds in and sticks with us, as we head through sunday and into the first part of next week at least, weather fronts trying to move in from the atlantic but bumping into high pressure. so, sunday, ithink, dry, really, across the board. light winds, long spells of sunshine for all of us and it's going to feel that little bit warmer. so we'll start to see temperatures up at around about 25 for the warmest spots, but, quite widely, high teens and low 205. outlook for next week — a lot of dry, settled weather. perhaps a little bit of rain, at times, later in the week, particularly in the north and north west, but it's likely to be turning warmer, especially in the south and south east. bye— bye.

good morning. welcome to breakfast with naga munchetty and charlie stayt. 0ur headlines today... a partnership between the government and the crown estate to help the uk become energy independent will be announced later today. i've decided the best way forward is to pass the torch

to a new generation. president biden explains to the american people why he's decided not to stand for re—election. actor amanda abbington says she and her family received death and rape threats after making allegations against her former strictly come dancing partner, giovanni pernice. adults trying to get an adhd assessment may be waiting up to eight years in some parts of the uk according to a bbc investigation. air passengers are facing continuing delays and cancellations due to last week's global it failure. what are your rights for compensation? we will have all the details. in sport... the right time, and the right place to retire. two—time gold medallist andy murray tells us he is happy to be ending his career at the olympics. a cloudy start for most of us. through the day we will be