political crisis in germany — olaf scholz sacks his finance minister causing a collapse in their coalition government with elections expected in january. willa new trump era be good for business or challenging for the global economy? we'll be reflecting on how his policy choices might impact international trsade. international trade. the japanese carmaker nissan the japanese carmaker nissan is cutting 9000 jobs. is cutting 9000 jobs. we'll explore why and ask we'll explore why and ask whether the japanese giant can whether the japanese giant can turns things around. turns things around. welcome to business today. welcome to business today. while the world's focus has been while the world's focus has been on its biggest economy, on its biggest economy, the powerhouse of europe the powerhouse of europe has become embroiled has become embroiled in its own political crisis. in its own political crisis. germany's three—party germany's three—party coalition has effectively collapsed after ministers coalition has effectively collapsed after ministers from the free democrats from the free democrats quit the government, quit the government, likely paving the way for early likely paving the way for early elections next year. elections next year.

their exit comes after german chancellor 0laf scholz, sacked the leader of the party from hisjob as finance minister. he said christian lindner had broken his trust too often, making serious government work impossible. too government work impossible. often, after the necs compromises too often, after the necessary compromises have been drowned out by public disputes and loud

if he fails, there would be a general election at a time when the german economy is struggling to grow and a party on the far right has captured a lot of public support. the bank of england is to announce its latest interest rate decision very shortly. that's coming up injust over 25 minutes time. the monetary policy committee is widely expected to reduce the bank's base rate by 25 basis points to 4.75%. that would be the second rate cut this year after a long run of interest rate rises to tackle soaring inflation. consumer price inflation was 1.7% in the 12 months to september — within the bank's 2% target. across the atlantic, across the atlantic, the us federal reserve is also the us federal reserve is also expected to cut its interest expected to cut its interest rate later today. rate later today. to donald trump's election now, it's the day now, it's the day after the world learned after the world learned who the next leader who the next leader of its biggest of its biggest

economy would be. economy would be. the reaction from us markets the reaction from us markets to donald trump's election was strong with the s&p reaching a record high on wednesday. international markets reacted differently with concerns about the next president resorting to trade wars to get what he wants. let's get more now from ronald temple, chief market strategist at lazard + fair to say that

chief market strategist at lazard + fair to say tha and i have reason to be worried and i would differentiate the european markets from the us market. in the us market we saw the strong rally and you mentioned 2.5%, nearly 6% in the russell 2000 which captures the russell 2000 which captures the smaller companies in the us market, so a strong rally. i think part of what you saw yesterday from the us was people had flattened out their position and you think of hedge funds, who were uncertain. it was 50—50 election and they reduce their exposure and many people thought it would take days if not weeks to find out who the winner was and they were startled by the decisive win for trump so people jumped into certain traits. in europe we also had a reaction function but it was different. in the us, the positive reaction is that trump has promised lower corporate tax rates and less regulation and a trade war and receive a european equities, you don't get the lower tax rates and deregulation but you

get the obligations of the trade war so i don't think the story is over and i think in the us investors are overemphasising the positive aspects of deregulation and ignoring the trade risk and in europe they have priced it in. international markets worried about tariff in position. it were at a point where the campaign pledges will confront reality. will he follow through or is this the beginning of a bargaining position? i or is this the beginning of a bargaining position?- bargaining position? i think ou will bargaining position? i think you will follow _ bargaining position? i think you will follow through. - bargaining position? i think you will follow through. i i you will follow through. i don't think you will go to a 60% tariff on all imports on china in a single day. i think there is a bargaining position that they are ratcheting up an expansion of the tariff, like you did in his first term with a 10% global tariff, i think we should taken seriously. these are positions he has developed in the four years he has been out of office and note that donald trump has had a core belief that the trade deficit is bad, bad to the economy and

signals having done bad trade deals and he's got that way for decades, so you should take them seriously that they will occur over time.— them seriously that they will occur over time. ronald, thank ou for occur over time. ronald, thank you for your — occur over time. ronald, thank you for yourjoining _ occur over time. ronald, thank you for yourjoining us - occur over time. ronald, thank you for yourjoining us today. l the japanese car giant nissan has announced plans to cut 9000 jobs from its global workforce, and reduce its production capacity by 20 percent.|t is not yet clear where the brunt of the cuts will fall, or whether nissan s operations in the united kingdom will be affected. it would be a roughly 7% cut in nissan's workforce. the carmaker has been struggling with falling sales in china and the us, two of its most important markets. we'rejoined now by david bailey, professor of business economics at birmingham university and an expert on the car industry.+ why is nissan in this position? there is a slowdown in china affecting all the auto—makers particularly nissan and its been lagging in the transition

to electric vehicle ironically says it —— because it was a pioneer. but they did say they were behind in terms of hybrids, so because of the stalling of demand for group electric vehicles in the west more people are buying hybrids and that's an area where nissan said they are not strong. rather strangely because they took a stake in mitsubishi that were good on hybrid, so they've not integrated the new technology to their product line and have been exposed by a slowdown in growth. the? line and have been exposed by a slowdown in growth.— slowdown in growth. they are a lea slowdown in growth. they are a legacy car-maker _ slowdown in growth. they are a legacy car-maker and _ legacy car—maker and interesting we've been hearing about volkswagen in recent weeks planning to reduce its production capacity as well. is this all part of the reordering of the global car industry with all of these new insurgent manufacturers and brands and the legacy players feeling the heat and suffering. i5 the legacy players feeling the heat and suffering.— the legacy players feeling the heat and suffering. is spot on. and in particular _ heat and suffering. is spot on. and in particular the _ heat and suffering. is spot on. and in particular the new - and in particular the new insurgents that are coming, not only tesla, but chinese brands taking a big scare of the european market and making cars

as much as 40% lower cost than in europe, so the european and us firms have actually been behind the curve and have to make a lot of ground and unless they do that quickly there is no guarantee that any of them will survive.— will survive. finally, what you make of what _ will survive. finally, what you make of what nissan - will survive. finally, what you make of what nissan has - will survive. finally, what you make of what nissan has set| will survive. finally, what you i make of what nissan has set out as part of its plan. can it claw back its market share? he will have claw back its market share? he: will have to rely on partners like mitsubishi and honda to develop new hybrids and electric cars and get attractive vehicles to market and its not alone as a car—maker in during that. but we seen a big hit to the profits of the firm and what we see is the announcement to cut capacity and that is huge. a big gamble but something it has to do. israel's defence ministry has announced its signed an agreement with boeing to acquire 25 "next generation" f—15fighterjets, financed

by american military aid to israel. the contract, worth $5.2 billion, also includes an option for 25 further aircraft. the fighterjets will be delivered in batches of four to six a year, beginning in 2031. for boeing it's a rare moment of good news — the company's been struggling with a string of challenges this year — most recently a seven—week strike over pay. president elect donald trump has said he will roll back green regulations that act as obstacles to oil and gas drilling and coal mining. so what does that mean for investment in renewable energy? bob dudley is the former ceo of bp and told our business editor, simonjack, that with only 8% of renewable energy powering the us, there cannot be a move away from fossil fuels such as natural gas in the nearfuture. across both political spectrums, when it has now sunk in — the amount of energy required for these new data centres — the attitude towards the industry in general is different and it's changing and it's more positive — recognise we need this.

it's interesting — you say oil and gas will be needed to power the technologies of the future, including ai, at least in the short term. i think the energy transition has been turned on its head in the last year because of the big data centres that are planned. the power consumption of those is going to be enormous, and you can't do it all with renewables. for me, it's one of the first times i've seen such a radical change, um, in terms of energy demand related to these data centres. it will mean a role for natural gas to play that — it's a cleaner—burning fuel certainly than oil — and i think the world is going to change. and so people have to get pragmatic and realistic about both the cost, it's going to take longer than people thought — but that's going to be the reality of it. and it's notjust going to be politicians who will feel the effects of this — it's going to be everyday citizens. their cost of energy will go up, and emissions are going to take a little bit

longer than everybody hoped for. and that's the reality of it. it's going to be difficult being a politician in what is going to be, i say, the new reality going forward. there will be some people who think that the election of donald trump for a second term is a disaster for the climate. well, clearly the election was not about the climate. i mean, it was about crime and people's security and open borders, and... i don't think climate was part of the...part of the equation, people's thinking. there are too many other important things that people feel like that needed action sooner. generally across the united states, people are sympathetic and supportive of the climate initiatives. people would like to see as much renewables as can be developed in the united states. it's just hard because, you know, the amount of power that comes out of a solar panel compared to some liquid fuels is a totally different — you have to carpet the united states with wind and solar to be able

to power the united states with renewables and, i mean, that's not realistic. let's take a look at the markets. average house prices reached a record high. the average house price hit £294,000 in october. and it expects prices to continue to rise at a modest base for the next few months. the australian government says it will introduce world leading legislation to ban children under 16 from social media. the prime minister anthony albanese said the proposed laws would be tabled in parliament next week and were aimed at mitigating the harm social media inflicts on australian children. that's your business today. join me next time. stay with us on bbc news.

hello from the bbc sport centre. while a premier league team is the only one to register four wins from four in the champions league so far, the others continue to stutter. after manchester city's defeat on tuesday, both arsenal and aston villa lost for the first time on wednesday, beaten by a penalty kick each, one verging on the comedic. arsenal have gone three games without a win in the premier league and lost i—nil at inter after hakan calhanoglou's spot kick was given for a deflection off mikel merino which mikel arteta said was �*very very difficult to accept�*. happy apart from that. in the end we didn't do what we had to do and when we didn't, somebody else didn't, that is it. but for sure, this is the way want to see my team and the

other big games