tv Talking Business BBC News April 16, 2022 3:30pm-4:01pm BST
3:30 pm
and could lead to what it called "unpredictable consequences". russia has banned boris johnson, the uk foreign secretary liz truss, and defence secretary, ben wallace from entering the country. the kremlin says the decision has been made in retaliation to london's sanctions. disaster teams in the south african province of kwazulu—natal are on high alert forfurtherfloods — as more rain is forecast in the area this weekend. at least 400 people are now known to have died. the us state department says it's deeply concerned about the level of violence injerusalem — following clashes between palestinian demonstrators and israeli police on friday. at least a 150 palestinians and three israeli officers were injured. now on bbc news — it's talking business.
3:31 pm
hello everybody. a very warm welcome to talking business weekly, with me, aaron heslehurst. let's go and take a look at what is on the show. upping the game because of ukraine. europe and america are increasing military spending to combat the threat from russia, but what difference would it make? as moscow and beijing also spend billions more on their armies, will be a bumper payday for the world's grow biggest weapon makers. i am going to be speaking to this weapons expert who says that the only way to take on an aggressor like president putin is to invest in defence. western politicians are trying to balance spending more on defence against the ongoing pandemic recovery. this former german defence minister will tell me why his country is preparing for the biggest increase in military spending since world war ii. also on the show, a shipping shutdown, one industry leader tells me how the war in ukraine has led hundreds of crew from around the world stranded in dangerous seas, with no way out.
3:32 pm
wherever you arejoining me from from around the world, once again, a big hello, everyone and a warm welcome to the show. you know, the devastating war in ukraine has brought about a fundamental rethink in the world of defence spending. the us and much of europe have pledged significant increases in their defence budgets and arms companies around the western world are seeing their order books filling up. they are worried about what china and russia are up to as they also spend billions more on their military relief. the latest numbers show that in 2020, globally, military spending was almost $2 trillion. that is the highest on record and was worth 2.4% of the global economy. the united states and china where
3:33 pm
the biggest spenders by a long way, in fact the us accounts for nearly 40% of that spending, with china in second place with 13% and next up are india, russia and the uk. however, the strength of russia's amendment to its military is evident in that it accounts for 4.3% of the size of its economy, a higher number than the rest of the top five. china is also looking at another big increase in military spending in this year, the 26th year in a row, as it competes with the united states and whilst beijing is a major concern in washington, so too is moscow. the pentagon says that russia poses an acute threat and it is one of the main reasons that president biden is trying to get a 4% increase in defence spending through congress, which would take the total spend to about $830 billion. however the us is not working alone, it is part of a nato alliance along with canada and 28 european countries, who are also looking to increase their military spending in the wake of the war in ukraine.
3:34 pm
arguably, the most significant move has come from germany, where the chancellor, 0laf scholz, just days after the russian invasion, unveiled plans for a $130 billion boost in military spending. the country has been reluctant to spend too heavily on defence since the horrors of the second world war, but this new money would allow it to meet the nato target, that is country's military spend should be 2% of the size of their economy. here is the head of nato. the german decision is historic, partly because it affects the shift, the pivotal moment that we face in europe, but also the invasion of ukraine. also, because it will of course add significantly to nato�*s capability, germany is the biggest economy in europe and when they say spending more than 2% on defence, that really makes a difference. another nato country increasing defence spending
3:35 pm
is russia's neighbour, poland, as they tried to bring defence spending up to 3% of the size of the economy. they have signed a deal with washington to supply 250 abrams tanks, worth in the region of $4.5 billion. deals like this, and the broader increase in military tensions in ukraine and other parts of the world are all good news for the companies that make weapons, like the f 35 fighterjet which is made by a group of firms, including the us defence giant lockheed martin, whose share price has been up around 30% since the start of the year. 0ther defence manufacturers have also seen big jumps and evaluations this year. not all the extra dollars will go on the bombs, tanks and other technology that is increasingly important in 21st century warfare. the vast majority of spending is in fact taken up by more mundane costs, such as the payment of wages and benefits, such as pensions, as well as on operational maintenance costs. it is only a small proportion
3:36 pm
of total defence spending, such as the big ticket items, such as planes and tanks. well, let us hear more about what all of this means for the weapons makers. the uk, it has a sizeable presence in the international defence industry and the ads group represents more than 1000 companies, including big names like bae systems, rolls—royce, boeing and talus and i caught up with its chief executive, the big boss, kevin craven. kevin, a real pleasure having you on my show, thank you forjoining me. kevin, let us start with this, if you could paint as a brief picture ofjust how the defence industry is reacting around the world, really, to the tragedy that we are seeing in ukraine. it is a mixed reaction, i obviously, so, of course, as with everyone else, _ the defence industry is concerned about the crisis in ukraine . and the effects on the people and the country, but on the other hand, it is clearly something -
3:37 pm
that is an opportunity. for the defence sector, the defence of our freedoms that we take for granted, . i think over here, are being - challenged in places like ukraine and people are seeing the importance of a strong defence _ policy and posture. so, we have got european politicians, of course, trying to increase military spending in the us, president biden is trying to get more money out of congress, china is also boosting its output and i think china's military spend is on the up for the 22nd year in a row. all of this surely is music to the ears of your industry. i don't know about music, but certainly a positive . business outlook. covid has been interesting for the defence industry, i because unlike, for example, i aerospace, where we have had a downturn of some 65%
3:38 pm
in civil aircraft orders, i defence has been pretty steady, - but has had also drumbeats of higher costs and i suppose the other thing |to mention is that against the risksj of industry coming back after covid, there is more competition - for labour, supply chain items... you mentioned higher costs for your industry, so, kevin, what are they and how much of a hindrance or the two armies been able to, well, upgrade the capabilities? over the last few years, the last decade or so, . there has been a reduction. in spending in defence costs generally, which was then sort of counteracted by, l you know, the donald trump effect, encouraging european countries - to step up their percentage of spend on the other one i would point - to is probably things that -
3:39 pm
are further down the supply chain, like electronics, chips, _ for example, which we have seen shortages immediately impacting colleagues in the automotive - industry and shortages _ are impacting on defence as well. some are saying, look, we could be at the beginning of an arms race here and recently the pope, pope francis, criticised increased defence spending by nations, he called it madness and said that a new weight must be found to balance world powers. others are questioning if it is right for the industry to be feeding a destructive system. yeah, look, as a catholic, many, many years ago, . i take issue on that, l you know, the reality is that it is absolutely no point l now in our western democracies
3:40 pm
disarming themselves unilaterally, if people on the other side - of the order of defence are gearing up for wet — i so, putin's actions are not goingl to be repudiated merely by words, by words, they require a firm - will and they require the capability to deal with his aggression directly to be able to respond to it, - otherwise, he will not stop, . there is no earthly reason why the logic that has seen him move| into crimea and then into the rest of ukraine directly, - you know, he is an aggressor and until somebody comes up with a different solution, - i i don't believe there is any reason. why our western democracies should not take the appropriate steps to defend themselves - and defend our societies against that aggression. j
3:41 pm
either cyber or physical. kevin craven, either cyber or physical. kevin craven. i _ either cyber or physical. kevin craven, i thank— either cyber or physical. kevin craven, i thank you _ either cyber or physical. kevin craven, i thank you very - either cyber or physical. kevin craven, i thank you very much either cyber or physical. kevin . craven, i thank you very much for your insight and your time, much appreciated. my your insight and your time, much appreciated-— your insight and your time, much appreciated._ let. your insight and your time, much appreciated._ let us| appreciated. my pleasure. let us ick u- appreciated. my pleasure. let us pick up on _ appreciated. my pleasure. let us pick up on the — appreciated. my pleasure. let us pick up on the thought _ appreciated. my pleasure. let us pick up on the thought about. appreciated. my pleasure. let us| pick up on the thought about how government balance spending their weapon —— money on weapons and everything else. i've been speaking to former german defence ministry who is now with a washington think—tank. a real pleasure having you on the show, thank you for your time. i know you like... let us start with this, i wonder what does the war in ukraine tell us about how much both the west and russia have spent on their militaries in recent years? spent on their militaries in recent ears? , ., ., , , years? first of all it tells us we have spent _ years? first of all it tells us we have spent much _ years? first of all it tells us we have spent much too _ years? first of all it tells us we have spent much too little - years? first of all it tells us we have spent much too little and| years? first of all it tells us we i have spent much too little and if i may speak from a german perspective,
3:42 pm
we should and could have done much more. we have neglected, but there is still a possibility of a conventional warfare next to our eu borders and yes, we have missed opportunities over the last four years. opportunities over the last four ears. , , , ., opportunities over the last four ears. , ,, ., ., ~ opportunities over the last four ears. , ., ., ., ., years. did russia take advantage of that? i wonder _ years. did russia take advantage of that? i wonder if _ years. did russia take advantage of that? i wonder if we _ years. did russia take advantage of that? i wonder if we can _ years. did russia take advantage of that? i wonder if we can call- years. did russia take advantage of that? i wonder if we can call it - years. did russia take advantage of that? i wonder if we can call it an i that? i wonder if we can call it an advantage _ that? i wonder if we can call it an advantage in _ that? i wonder if we can call it an advantage in the _ that? i wonder if we can call it an advantage in the light _ that? i wonder if we can call it an advantage in the light of - that? i wonder if we can call it an advantage in the light of how - that? i wonder if we can call it an i advantage in the light of how much they are struggling right now to fulfil their own goals, but on the other hand, of course they sensed a certain weakness in the west and a lack of unity and a lack of discussion when it comes to how we can actually optimise our armed forces and other things. it also played into the strategic game plan of vladimir putin, whether it worked out at the end of the day, is another question, but it definitely was a wake—up call. another question, but it definitely was a wake-up call.— another question, but it definitely was a wake-up call. your country, germany. — was a wake-up call. your country, germany. it _ was a wake-up call. your country, germany. it is _ was a wake-up call. your country, germany, it is in _ was a wake-up call. your country, germany, it is in the _ was a wake-up call. your country, germany, it is in the process - was a wake-up call. your country, germany, it is in the process of i germany, it is in the process of making a big increase in its military budget, the biggest since world war ii, can you just explain
3:43 pm
to my viewers around the world, just how big a step change this is for germany? how big a step change this is for german ? ~ , how big a step change this is for germany?— how big a step change this is for german ? ~ , ., germany? when i listened to the seech of germany? when i listened to the speech of chancellor _ germany? when i listened to the speech of chancellor shoots, - germany? when i listened to the speech of chancellor shoots, i i germany? when i listened to the l speech of chancellor shoots, i was surprised and honestly baffled, 100 billion euros on top of our military budget which usually is around a0 billion a year, that gives you a perspective of where we actually are right now with that announcement. 100 billion euros sounds a lot and it is a lot and honestly i would have loved to have that announcement when i was in office and it was far from happening. that is the good news here, however having said that, 100 billion euros has to be shaped properly, it is not a synonym for overcoming enormous structural deficits in germany and there are a couple of question marks about what to do with it, how to use it properly, and how to put it into an
3:44 pm
international context. iliiuiith properly, and how to put it into an international context.— international context. with your exaerience _ international context. with your exaerience of— international context. with your experience of the _ international context. with your experience of the german - international context. with your i experience of the german military, where do you think the money should be spent? will it be about buying more bombs and bullets or more about cyber capabilities? it more bombs and bullets or more about cyber capabilities?— cyber capabilities? it has to be a smart mixture _ cyber capabilities? it has to be a smart mixture of _ cyber capabilities? it has to be a smart mixture of things, - cyber capabilities? it has to be a smart mixture of things, on - cyber capabilities? it has to be a smart mixture of things, on the| cyber capabilities? it has to be a - smart mixture of things, on the one hand, you have to understand that conventional warfare is not out of the picture, it came as a surprise to many, on the other hand we have to many, on the other hand we have to modernise, it is one of our biggest mistakes over the years was that we were mainly actually putting an emphasis on our rotten structures and how to keep them somehow alive instead of properly modernising. i’m instead of properly modernising. i'm also wondering, is it to reconcile the fact that your country is increasing your defence bent and for germany, as we have said, in an unprecedented manner, but at the same time, you are still sending billions of dollars every week to moscow, continuing to buy their oil
3:45 pm
and gas. moscow, continuing to buy their oil and as. . , moscow, continuing to buy their oil and as. ., , ., ., , , and gas. that is one of the biggest auestions and gas. that is one of the biggest questions that _ and gas. that is one of the biggest questions that is _ and gas. that is one of the biggest questions that is waiting _ and gas. that is one of the biggest questions that is waiting for - and gas. that is one of the biggest questions that is waiting for a - questions that is waiting for a proper answer. honestly, questions that is waiting for a properanswer. honestly, iam questions that is waiting for a proper answer. honestly, i am also not too happy and not to content with the answer so far, because that is one of the points that should potentially undermine our newly found unity within the european union and nato. we have seen a lot of structure in nato and the european union that have been called brain dead by the current french president and have been criticised for many others, but to keep that unity alive, i think we also have to be clearer and stronger when it comes to energy embargoes and germany has to do more than it does right now. $5 germany has to do more than it does riaht now. �* , ~' ., germany has to do more than it does riahtnow. a ~ ., , ., , right now. as we know, germany has lona been right now. as we know, germany has long been wary _ right now. as we know, germany has long been wary of— right now. as we know, germany has long been wary of military _ right now. as we know, germany has long been wary of military power - right now. as we know, germany has long been wary of military power and j long been wary of military power and has continuously delayed the plans to reach that 2% expenditure goal
3:46 pm
set by nato. in some ways, isn't this just germany playing catch up now? thisjust germany playing catch up now? , ., ., , , thisjust germany playing catch up now? , ,, now? yes. not only us, but the sianal is now? yes. not only us, but the signal is good _ now? yes. not only us, but the signal is good and _ now? yes. not only us, but the signal is good and strong - now? yes. not only us, but the signal is good and strong to - now? yes. not only us, but thej signal is good and strong to say that we have finally lived up to the 2% expectations but here comes my but and i underline it, the 100 billion euros will only be enough until 2025, billion euros will only be enough until2025, maybe billion euros will only be enough until 2025, maybe 2026, to fulfil this 2% goal and then after that, we would need a lot of money again to keep fulfilling that pledge. {biden keep fulfilling that pledge. given that nato has _ keep fulfilling that pledge. given that nato has said, _ keep fulfilling that pledge. given that nato has said, from - keep fulfilling that pledge. given that nato has said, from the - keep fulfilling that pledge. given that nato has said, from the start of this war, that nato and its 30 member nations will not go to war with russia because of the nuclear threat, it is too much of a rest, doesn't that make all of this extra military spent a new —— a moot point. it military spent a new -- a moot oint. , military spent a new -- a moot oint, , ., , , military spent a new -- a moot oint. , . point. it is absolutely necessary and we all _
3:47 pm
point. it is absolutely necessary and we all know— point. it is absolutely necessary and we all know that _ point. it is absolutely necessary and we all know that nato - point. it is absolutely necessary and we all know that nato has l point. it is absolutely necessary. and we all know that nato has its borders to russia and we all know that there is a possibility or it might be small at the moment, but we cannot count it out, that moscow could cross nato borders and if it seems right for him and as terrible as this might be, for that we need to be prepared, we need to be prepared for the case that someone as horribly acting as this one currently is, might come to similar conclusions, whether it is him or another one. as i have said, we have another one. as i have said, we have a wake—up call and we finally need to act. mil a wake-up call and we finally need to act. �* , . ., , , to act. all these countries, they are looking _ to act. all these countries, they are looking at _ to act. all these countries, they are looking at buying _ to act. all these countries, they are looking at buying more - to act. all these countries, they l are looking at buying more tanks, bombs and other weapons, but their economies are still recovering from the pandemic. people will be asking, where is this money going to come from? test where is this money going to come from? �* ., ., , ., from? at the moment we are using an interestin: from? at the moment we are using an interesting trek— from? at the moment we are using an interesting trek in _
3:48 pm
from? at the moment we are using an interesting trek in germany, _ from? at the moment we are using an interesting trek in germany, we - from? at the moment we are using an interesting trek in germany, we have l interesting trek in germany, we have witnessed that the chancellor announced something he would call a special budget or a side budget to the normal budget and shifting those 100 billion euros into that side budget sounds lovely, because on the one hand it keeps the tradition of a normal budget for the whole government and the executive grant alive but on the other hand we have to say yes, it also conflicts with our debt goals that we have in the minimum and long term and we have to be clear here and i think we also have to be precise, if we do what we do right now, if we raise our military budgets across europe or within the nato member states, it will mean that the debt problem we are facing already right now will accelerate and will be higher than ever, but on the other hand we also have to say, if this is for the security of all of us and the security of all of us and the security of all of us and the security of avoiding an atomic warfare at one point and other
3:49 pm
horrible and atrocities that might happen even on european soil, it is worth it. . ., happen even on european soil, it is worth it. ., ~ , ., happen even on european soil, it is worth it. ., ~ i. ., happen even on european soil, it is worth it. ., ~ ., worth it. thank you for your thoughts — worth it. thank you for your thoughts and _ worth it. thank you for your thoughts and time, - worth it. thank you for your thoughts and time, much . worth it. thank you for your - thoughts and time, much appreciated and i will check in with you soon. my and i will check in with you soon. my pleasure, aaron, thank you. ukraine's's ports are a vital part of the global shipping industry and in fact one of their biggestjobs is to export all of that sunflower oil, wheat and other foods that the country sails to the rest of the world. the russian invasion means they have come to a grinding halt with more than 100 ships stuck at the port since the war began, with hundreds of crew on board, all in danger of running out of their own supplies. it is causing growing disruption to the global shipping industry and i caught up with the secretary general of the international chamber of shipping which represents more than 80% of the world's shipping fleet. always a pleasure having you with me. let us start with this, just how many vessels and seafarers are we talking
3:50 pm
about that are trapped in this sea of azov at the moment due to the conflict? , ., ., ., , conflict? getting information is difficult and _ conflict? getting information is difficult and it _ conflict? getting information is difficult and it is _ conflict? getting information is difficult and it is good - conflict? getting information is difficult and it is good to - conflict? getting information is difficult and it is good to speak| conflict? getting information is i difficult and it is good to speak to but we think 1a0 ships are currently trapped in ukrainian ports with about 2000 seafarers, of 20 nationalities, on—board and it is quite a desperate situation when we are increasingly worried about their welfare and well—being. i5 are increasingly worried about their welfare and well—being. is it are increasingly worried about their welfare and well-being.— welfare and well-being. is it the case with all _ welfare and well-being. is it the case with all these _ welfare and well-being. is it the case with all these vessel - welfare and well-being. is it thej case with all these vessel stuck, simply wrong time, wrong place. that is recisel simply wrong time, wrong place. that is precisely it- — simply wrong time, wrong place. tsisgt is precisely it. they were shifting cargo, coming into port to upload or discharge cargo and then everything started and they were then trapped and the advice was that they stayed still and stopped exactly where they are and that is the advice from the ukrainian authorities who then closed the ports going forward. literally there were ships that had sailed hours before that went into safety and others which came in and were trapped at that very point in
3:51 pm
time and it is six weeks now and it must be increasingly worrying for the cruise the ships. just must be increasingly worrying for the cruise the ships.— must be increasingly worrying for the cruise the ships. just paint us a icture the cruise the ships. just paint us a picture about _ the cruise the ships. just paint us a picture about what _ the cruise the ships. just paint us a picture about what you - the cruise the ships. just paint us a picture about what you know i the cruise the ships. just paint us| a picture about what you know of, some of the incidents that have happened in the last few weeks. we know happened in the last few weeks. - know some ships have had collateral damage, we note seafarers have been injured and killed by this collateral damage of indiscriminate firing that has happened and we know that one ship was sunk by a muscle in recent days and these things, our crews are going through it all at the moment and we want to get them safe, but that is really difficult to achieve. safe, but that is really difficult to achieve-— safe, but that is really difficult to achieve. ~ ., ., , ., , to achieve. what dangers do they face, the vessels _ to achieve. what dangers do they face, the vessels and _ to achieve. what dangers do they face, the vessels and of - to achieve. what dangers do they face, the vessels and of course i to achieve. what dangers do they i face, the vessels and of course the crew on board, what do they face if they try to leave? i read reports about a lot of the water is being mined by the russians.- mined by the russians. firstly, mines as well _ mined by the russians. firstly, mines as well as _ mined by the russians. firstly, mines as well as reports i mined by the russians. firstly, mines as well as reports of i mined by the russians. firstly, i mines as well as reports of mines in the approaches to the various ports, reports of drifting mines, clearly
3:52 pm
at the moment it would be extremely inadvisable for ships to sail, but also there are other forces around that might get caught up in collateral damage and firing on the ships and at the moment the strong advice from ourselves and the authorities is to remain in port for the time being. even when this conflict is over and i hope to god it is soon, it is going to be an ongoing dangerfor the it is soon, it is going to be an ongoing danger for the ships to get out of the port because of the presence of mines and it will take many weeks, if not months, to clear evenif many weeks, if not months, to clear even if peace does break out. presumably the dangers are that if these ships do not or cannot leave, surely they are simply going to run out of supplies, food, water and fuel? . , out of supplies, food, water and fuel? ., , , ., out of supplies, food, water and fuel? ., , ., , out of supplies, food, water and fuel? ., , ., fuel? that is exactly our worry and we are working — fuel? that is exactly our worry and we are working with _ fuel? that is exactly our worry and we are working with aid _ fuel? that is exactly our worry and we are working with aid agencies, | we are working with aid agencies, like the red cross to highlight their plight. ships do carry typically a number of days or weeks of stores but increasingly as this
3:53 pm
drags on it is coming under threat, particularly in the eastern ports where it is difficult to get access. it is easier in the western ports to get supplies to them but in places like mariupol it is virtually impossible to get to the ships at all. we are very worried about their welfare and just to get them safe and to a place of safety. we welfare and just to get them safe and to a place of safety.- and to a place of safety. we also know about _ and to a place of safety. we also know about both _ and to a place of safety. we also know about both ukraine - and to a place of safety. we also know about both ukraine and i and to a place of safety. we also i know about both ukraine and russia being major exporters of food to the rest of the world. again, for viewers around the world, described how important it is, a sea of azov for global trade and what are the concerns if this is not resolved soon? if concerns if this is not resolved soon? ., . . concerns if this is not resolved soon? ~ ., ., ,, ., ,, ., soon? if ukraine and russia, ukraine is a ma'or soon? if ukraine and russia, ukraine is a major exporter _ soon? if ukraine and russia, ukraine is a major exporter of _ soon? if ukraine and russia, ukraine is a major exporter of grain _ soon? if ukraine and russia, ukraine is a major exporter of grain to i soon? if ukraine and russia, ukraine is a major exporter of grain to the i is a major exporter of grain to the world and i was speaking to a contact in egypt and he was telling me that the grain prices have quadrupled in the last few weeks. it is clearly not been able to get the grain out, it will be a major problem going forward and you can see this in the months and a head,
3:54 pm
the longer it goes on, the more difficult it will be to source those supplies, particularly in the middle east and africa who use a lot of russian and ukrainian grain. what russian and ukrainian grain. what are you doing _ russian and ukrainian grain. what are you doing about _ russian and ukrainian grain. what are you doing about this? what can your organisation do to help the situation? we your organisation do to help the situation? ~ ., ., ., situation? we get together on an almost daily _ situation? we get together on an almost daily basis _ situation? we get together on an almost daily basis now, - situation? we get together on an almost daily basis now, get i almost daily basis now, get interested parties, un agencies, we share information, we lobby, we make the case for example, with other agencies like the international red cross to highlight the plight of seafarers and continuously share information of what is happening on the security situation to make sure our members and owners and others realise what is going on. it is just highlighting on programmes like this and this is helpful, highlighting there is a real issue with ships and seafarers and safety and well—being. while i have got you, let us talk about insurance, all the ships and
3:55 pm
cargo are insured, there are reports of ships carrying oil from the black sea becoming nearly uninsurable, for instance i was reading a report, correct me if i am wrong, a ship with one load had an insurance premium of $5 million, above the actual cost of hiring the ship in the first place, surely that is unsustainable? it the first place, surely that is unsustainable?— the first place, surely that is unsustainable? , , ., , , unsustainable? it is. obviously it is where things _ unsustainable? it is. obviously it is where things are _ unsustainable? it is. obviously it is where things are scariest i unsustainable? it is. obviously it is where things are scariest and l is where things are scariest and risks are deemed highest, the premiums will be increased to cover the risk and we have already seen hits and a ship has been hit by a missile and that risk is certainly there for all to see. we have heard they have got up as much as six times what they would normally be in order to carry the cargoes. that is something that ship owners have to bearin something that ship owners have to bear in mind when they decide whether to take a cargo or not. they are always assessing the risk
3:56 pm
alongside the risk to their crews. in a world of higher inflation and higher cost for pretty much everything, if the ship has a higher cost of insurance, six times more, i am assuming that will get passed down the line probably to the consumer at the end? shill down the line probably to the consumer at the end? all cost, we have seen — consumer at the end? all cost, we have seen it _ consumer at the end? all cost, we have seen it elsewhere, _ consumer at the end? all cost, we have seen it elsewhere, with i consumer at the end? all cost, we have seen it elsewhere, with the l have seen it elsewhere, with the increased container course, eventually these prices will filter down to the consumer, even though that cost has to be distributed throughout the supply chain and ultimately it will be the consumer that pays for it. fin ultimately it will be the consumer that pays for it— that pays for it. on that note, alwa s a that pays for it. on that note, always a pleasure _ that pays for it. on that note, always a pleasure having i that pays for it. on that note, always a pleasure having you | that pays for it. on that note, i always a pleasure having you with me, thank you for your time and i will talk to you soon. thank you, aaron. that is all for the show this week. i hope you have enjoyed it. keep up—to—date with the latest on the war in ukraine and how it is impacting the global economy on the bbc news website or smartphone app and you can also follow me on twitter. thank you for watching, i will see you soon, goodbye.
3:57 pm
we have got some great weather this easter weekend. temperatures have so far got up to 23 celsius in the south—east of england, that was yesterday, not quite as warm today but warm enough. high pressure in charge of the weather but a weather front is approaching. you can see it here in the satellite picture, this area of cloud, that is approaching northern ireland. ahead of it, already skies are hazy in western parts of the uk. so not sunny everywhere. one thing worth mentioning, the pollen, high tree pollen levels for england and wales for today and tomorrow. in scotland and northern ireland, they are not quite as high. the temperatures by the end of the afternoon will have reached the high teens in the midlands but fresher in eastern scotland. here is the forecast for tonight, fine weather across the bulk of the uk but here is that weather front unfortunately,
3:58 pm
whether you like it or not, approaching northern ireland bringing cloud and rain by the early hours of sunday morning, especially to western parts of northern ireland, elsewhere we are in for a dry and sunny start to the day, sunshine from the word go for many parts of the uk for easter sunday. a different story for the west. a slow—moving weather front which should reach belfast by the afternoon, so a lot cooler here. only 13 degrees, with the rest of the country typically around 15—20 c. that weather front will make further progress across the uk by monday, you can see it here along the spine of the country. around it, cooler air from the atlantic which means the temperatures will start to ease from monday onwards. so low pressure to the north—west, a stronger breeze for northern ireland and scotland, showers for sure and probably one or two showers elsewhere across england and wales but lengthy
3:59 pm
sunny spells as well. temperatures already much lower, 12 in glasgow, 13 in liverpool, no higher than 17 in london, decent enough for the time of year. here is the outlook for the week ahead, you can see temperatures easing but stabilising around the mid teens in the south, typically 12 in the north. bye— bye.
4:00 pm
this is bbc news ? welcome if you're watching here in the uk or around the globe. our top stories... russia warns the us and its allies against supplying further weapons to ukraine, saying it's adding fuel to the conflict. missile attacks resume near kyiv. moscow says it targetted a factory making anti—ship weapons and threatens more to come. russia has banned boris johnson, the uk foreign secretary liz truss and defence secretary ben wallace from entering the country. disaster teams in south africa are on high alert forfurtherfloods as more rain is expected over the weekend. 0ur correspondent is there. plans to send asylum seekers from the uk to rwanda are a breach of international law, according to the un's refugee agency.
79 Views
IN COLLECTIONS
BBC News Television Archive Television Archive News Search ServiceUploaded by TV Archive on