the strike could cost the world's largest economy up to $5 billion a day. joe biden has repeatedly said he will not intervene to end the industrial action. he has called the strike a man—made disaster and urged them to reach a resolution. there is a construction. it controls all the ports all the way down the east coast of the gulf. they have made incredible profits since the pandemic. over 800 present profit. the owners are making tens of millions of dollars. the last thing they need is this. they need to sit at the table and get strike done. ryan pedersen is the founder. he gave us a sense of the impact of the strike of consumers. this will be a massive disruption.

you will not see this affect the consumer analysis unless this lasts another week or two and then see big shortages and really higher prices of all kinds of goods that will result from this. to ask you about crystal ball thinking, it can be a bit tough butjust elaborate if you could, mentioned how many days if this rumbles on that the consumer will start to feel it. the big question here is again, does it get resolved in the next week or two? if it does, you won't really see much, it will be a blip on the radar, but if this were to continue, you start to see massive bottlenecks as containers build up, both on the ships waiting off the coast, but also in places like china where they are unable to load these containers that are meant for the east and they start sitting there, and the real problem becomes a couple of months from now as these ships that are sitting here on the coast, off the coast of the us don't return home, don't go back to china to pick up more containers, you have a huge

shortage of shipping capacity, 16% of the world's capacity of ocean container ships goes through these ports on an annual basis, so these last few weeks you will start to see major backups and shortages, it would be really bad for the economy. the logistics industry has seen a series of disruption over the years. is there something they can absorb? we years. is there something they can absorb?— years. is there something they can absorb? we have proven as an industry _ can absorb? we have proven as an industry that _ can absorb? we have proven as an industry that we _ can absorb? we have proven as an industry that we can - can absorb? we have proven as an industry that we can take - an industry that we can take another blow and keep fighting, there has been a lot of deployment of technology recently since covid—19 to help companies get a sense of where things are in their supply chain and when they will arrive. that is where technology companies like ours give visibility so that we can take the container flow through the port when it is closed and show you which items are delayed so we can communicate to the customers about what delayed so we can communicate to the customers about what will happen. will happen.

to the customers about what will happen-— to the customers about what will happen-— to the customers about what to the customers about what will happen. that was awry in will happen. that was awry in peterson. — will happen. that was awry in peterson, the _ will happen. that was awry in peterson, the founder - will happen. that was awry in peterson, the founder of - will happen. that was awry in peterson, the founder of the | peterson, the founder of the peterson. — will happen. that was awry in peterson, the _ will happen. that was awry in peterson, the founder - will happen. that was awry in peterson, the founder of - will happen. that was awry in peterson, the founder of the | peterson, the founder of the supply chain company flex port. supply chain company flex port. we will keep a close eye on we will keep a close eye on that. openai has raised $6.6 that. openai has raised $6.6 billion in its latest funding billion in its latest funding round as companies continue to round as companies continue to bet on artificial intelligence. bet on artificial intelligence. it brings the value to around it brings the value to around $160 billion which is similar $160 billion which is similar to investment bank goldman to investment bank goldman sachs. it includes microsoft sachs. it includes microsoft and nvidia. oil prices have and nvidia. oil prices have jumped by around 1% as tensions jumped by around 1% as tensions in the middle east continue to in the middle east continue to strike fear. the region is the strike fear. the region is the bigger supply of oil and many bigger supply of oil and many are concerned a wider conflict are concerned a wider conflict would impact the supply. our would impact the supply. our expert gave us his take. we expert gave us his take. we know after— know after— expert gave us his take. we know after the _ expert gave us his take. we know after the _ expert gave us his take. - know after the iran attack, expert gave us his take. - know after the iran attack, israel is weighing their israel is weighing their options and what i'm the news options and what i'm the news and reading, the damages are and reading, the damages are not significant at the moment, not significant at the moment, so israel has to think hard on so israel has to think hard on

whether they can hard whether they can hard or not. the second point i want to make is if israel does strike hard on the iranian infrastructure, we can safely say that almost 1.5 or 2 we can safely say that almost 1.5 or2 million we can safely say that almost 1.5 or 2 million pounds of day of crude export will be a significant disruption risk. for the retaliation, if it takes place and iran chokes or blocks the stage, then we are looking at almost 12 or 13 million barrels per day of those flows at risk and almost 20% of the lng flows at risk. looking at these three perspectives, the market so far has not reacted, volatile or a spike mode, i think the market is still in a waiting mode. if things get out of hand, then

is still in a waiting mode. if| things get out-n is still in a waiting mode. if things get out trajectory. we apologise, we seem to have _ trajectory. we apologise, we seem to have lost _ trajectory. we apologise, we seem to have lost our- seem to have lost our connection there. let's turn our attention to the automobile sector where electric vehicle maker tesla has seen a 6% jump in at deliveries in thejuly— september quarter. the boom follows two quarters of decline, the company facing following demand and strong competition in china, especially from local manufacturer be why d. tesla is that you unveil a highly anticipated robo taxi in california next week. to japan next. the new government faces economic challenges like an ageing and shrinking population, the value of the currency has been in the spotlight this year and when the yenda weekend, the central bank trumped 25 million yen into the market to shore it up. that is a $173 billion. japan

now finds itself on the us treasury watchlist of potential currency manipulators. we spoke to the man who manage their war chess who defended the move. translation: it is chess who defended the move. translation:— translation: it is the opposite, _ translation: it is the opposite, with - translation: it is the opposite, with the - translation: it is the i opposite, with the market distortion that was caused by excessive speculation. myjob is to observe data diligently and after 20 years we have come close to understanding the market. actually, we can never fully understand the markets, just like science we can get 0.1 millimetres closer to how the market won't move. this weakness — the market won't move. this weakness in _ the market won't move. this weakness in the _ the market won't move. this weakness in the yen, - the market won't move. this weakness in the yen, does . the market won't move. this weakness in the yen, does that reflect— weakness in the yen, does that reflect where japan is compared to when— reflect where japan is compared to when it — reflect where japan is compared to when it was the second biggest _ to when it was the second biggest economy of the world? translation: the biggest economy of the world? translation:— biggest economy of the world? translation: the power of the currency reflects _ translation: the power of the currency reflects the _ translation: the power of the currency reflects the power - translation: the power of the currency reflects the power of i currency reflects the power of a nation. if you want the energy strengthen, we need to make our economy stronger. we have seen investments and wages rise and we now have a chance to go back to a normal market

economy. in to go back to a normal market economy-— to go back to a normal market econom . , ., ., , economy. in your view, what is needed especially _ economy. in your view, what is needed especially under - economy. in your view, what is needed especially under the i economy. in your view, what is i needed especially under the new government in order to revitalise the economy? translation:— revitalise the economy? translation: , , ., translation: opening up our labour market _ translation: opening up our labour market are _ translation: opening up our labour market are making - translation: opening up our labour market are making it. labour market are making it flexible is important. our population is shrinking which reduces the competitive edge. we should welcome diversity so we can have people compete to work together and innovate. we made progress with the rules on foreign labourforces made progress with the rules on foreign labour forces which we aim to continue. with our ageing population, it will be critical to addressing the labour shortage. fix, critical to addressing the labour shortage. a recent re ort labour shortage. a recent report warns _ labour shortage. a recent report warns of _ labour shortage. a recent report warns of our - labour shortage. a recent. report warns of ourjapanese companies reinvesting its profits— companies reinvesting its profits overseas but not in japan _ profits overseas but not in japan is _ profits overseas but not in japan. is there anything, that is up — japan. is there anything, that is up to— japan. is there anything, that is up to the private sector, but — is up to the private sector, but is _ is up to the private sector, but is there anything the government or the public sector can do— government or the public sector can do to — government or the public sector can do to encourage that reinvestment of profits? translation: it reinvestment of profits? translation:— reinvestment of profits? translation: , ., ., translation: it is unfortunate that those businesses _ translation: it is unfortunate that those businesses have -

that those businesses have decided they are not great opportunities. the solution is simple, we need to make japan attractive for companies to invest in. to make a firm stronger we need to strengthen our market economy further. the ja anese our market economy further. the japanese index — our market economy further. the japanese index is trading around 2% higher after the slid in value overnight. check out our online article. in singapore, the former transport minister has been a sentence to 12 months jail, convicted last week after pleading guilty to 5/35 charges he faced including accepting gifts a bicycle while serving as a cabinet minister. it is a rare case in a country known for is cleaner governance. luxury giant louis raton has entered a ten year sponsorship deal with formula 1. the partnership will be launched at the start of the next season in 2025 and estimated to be worth $100

million a year. that is all for this edition, thank you for watching, see you again at the same time tomorrow. buy for now. hey, i'm ben and this is the catch—up.

tonight, smuggling drugs in banana boxes, a stranded ship update, and christmas in october. but first, israel has said that eight of its soldiers have been killed in lebanon as they continue their ground offensive against hezbollah. it comes after iran, which supports hezbollah, fired 180 missiles at israel last night. israel's prime minister said iran would pay for their attack. a flight organised by the uk government to evacuate british nationals from lebanon is expected to land at birmingham airport shortly. these sisters are on board the flight. as the situation is out of line, i don't have any other option. we don't know when we will be back, so we will stay hopeful that it will not be for long and we will come back to our precious country. some other stories now. a crime boss from scotland has been jailed for 20 years for trying to smuggle cocaine

into the uk in banana boxes. jamie stevenson admitted to directing the operation would soar about £100 million worth of the drug brought in from south america. a cruise ship, which was stranded in belfast forfour months, is still moored just off the coast. passengers say they have been told they will leave for france tonight, but the belfast harbour website says they will not set off until thursday evening. time now for ten seconds of christmas in october. you may think it is too early to be hearing mariah carey and michael buble, but yesterday marked the first day of christmas celebrations in venezuela with lights going up around the country as the festivities began. the earlier the better for me. you are all caught up. have a good night.

hello there and welcome along to sportsday. i'm gavin ramjaun. a night of shocks in the champions league, holders real madrid have stunned with bayern munich also on the end of a defeat. sinner�*s incredible winning streak comes to an end after a sensational performance from carlos alcaraz in the final of the china open. and on the eve of the women's t20 world cup, we'll hear what's in store as the uae steps in to host.

hello there, and welcome along to the programme. it really has been an evening of shocks to tell you about in the champions league, and there was no bigger surprise than in france where the holders real madrid were beaten by lille. it was jonathan david's goal that proved the difference, his first—half penalty giving lille a famous 1—0 win over the 15—time champions. real pushed for an equaliser late on, but couldn't find it. the loss ending a 1a—match unbeaten streak for the spanish giants in the competition, stretching back to may last year. another of the standout results and performances on wednesday belonged to aston villa as they beat one of the favourites, bayern munich. it's been a long time for the home side to taste a european night like this, having won the competition back in 1982 after beating the same opposition. nestor mcgregor was at villa park for us. villa park may be quiet now, but during the 19 minutes, it was deafening.

a memorable night here, the venue hosting top—flight