hello and welcome to business today. i'm steve lai. us president—elect donald trump has confirmed tech billionaire, elon musk, will lead a government efficiency department. former republican presidential candidate vivek ramaswamy will also be in charge of the department, with trump saying their leadership will pave the way to dismantle government bureaucracy and slash excess regulation. elon musk became a key ally to trump during his campaign, reportedly spending well over $100 million to help the republican win. tech analyst weighs in on what the appointment in particular means for us businesses. i think that you have seen with what elon musk has been able to do with tesla and twitter and is really about trying to streamline the operations and i think we are in need of that in the us and there has been a lot of polarisation in the us. whatever we can do to help streamline that so we can focus

on growth and opportunities makes a lot of sense. i'm sure this is why elon musk has supported donald trump since the start. over injapan, nvidia boss jensen huang is speaking at a fireside chat with the chief executive of softbank group masayoshi son. the two companies piloted the world's first ai 56 telecoms network which can be used by autonomous vehicles. nvidia has been hosting a summit focused on japan's ai been hosting a summit focused onjapan�*s ai ambitions. last month the american giant because they're similar summit in india. mario morales explained why they are focusing on asia so much. they are looking for other markets to democratise, if you look at what is happening around the world in the space you see a lot of export control and regulation being pushed on china and that is having an impact on nvidia, so they are looking

for new market segments where ai is just at the starting point and japan is definitely prime for that, especially because japan has a rich history in high—performance computing. that bodes well for the opportunity for al in that space. we saw another ai summit by nvidia held in india last month, are these the two countries the main focus in asia when it comes to development? around the world china is such a large market, it mirrors the us in potential. india is one of those countries that it is the fifth—largest gdp in the world and it has such a young population that is just beginning now to get its hands on al and i think there's a lot of promise for potentially india displacing china at some point in time, in terms of opportunity. i think forjapan it is taking advantage of the supply chain and also the legacy that they have had in supercomputers

and i think if they can turn that into ai then they can definitely drive a lot more growth injapan, which has stalled for a long time. of course japan is also the fourth—largest gdp market in the world. you mentioned china, they have also been urging local companies to avoid nvidia chips. is that to their own detriment given nvidia is the market leader here? it will be tough for china because i think when you think about tencent and alibaba, they have been depending on not just nvidia but also amd and intel. now not having access to that capability, they will have to rely or on internal development and small start—up companies that for the most part have still had access to supply from taiwan. over the coming quarters i think you will see more constraints and export control even on some of these start—up companies in china today, so it will be a struggle for china overall.

a number of australian airlines cancelled flights to and from bali due to an ash cloud caused by nearby volcanic eruptions. flights from jetstar and qantas have been cancelled while some virgin australia flights have been impacted. the volcano has continued to erupt over the last two weeks. shares of a few delivery company in india listen about it our, the second to go public. these companies revolutionise how urban indians ordered food but it's the groceries livery operations that are driving revenue growth. bbc is nicola has more. it looks like i have run out of milk for my moulding copy. what i will do is place a quick online delivery order. i have at least three of what i called quick, saps in my phone. swiggy

insta mark as it will do the delivery in just 11 minutes. when could is doing in about ten minutes and that too is much quicker. is ready to deliver in six minutes. there you go, my order is here already. it didn't cost me very much money and the sort of instant delivery has now become a 3 billion plus dollar business in india. the streets of indian cities like mum buy and deli are full of these writers delivering everything from garlic to green tea to consumers like me. it's created millions ofjobs for young millions of jobs for young workers. millions ofjobs for young workers. not everyone is happy. this is the high street right under my building. with online delivery is becoming so easy and convenient, i myself had not come here to buy things such as fruits and vegetables

orsoap such as fruits and vegetables or soap and shampoo even for the last one year or so. retailers, his family have been running the shop for the last 71 years have been feeling the impact of the trend. translation: , ., translation: football is down b half in translation: football is down by half in the — translation: football is down by half in the last _ translation: football is down by half in the last year- translation: football is down by half in the last year or - translation: football is down by half in the last year or so. i by half in the last year or so. we cannot compete on prices either. the online retailers have cash to burn and can offer big discounts, we are seriously considering closing down. fine considering closing down. one estimate suggests _ considering closing down. one estimate suggests as quick, as has grown some 300% of the 200,000 mum and pop stores have shot down injust 200,000 mum and pop stores have shot down in just the last year. now these delivery company seem to be having a bit of a moment under the sun. wrecking and billions of dollars from the stock market. there are concerns that they haven't yet turned any profit and they are not really charging very much money for these deliveries. also this is a growth story that is balanced on paying low wages to writers

and the jury is still out on whether the model can work in smaller towns and villages where the operating costs are much higher. turning to the oil market now, where opec—plus has cut its forecast for global oil demand growth yet again. in their latest monthly report, the group highlighted weakness in china and india for the fourth consecutive downward revision. china is the world's largest importer of oil and with its economy slowing, it's needed less of the liquid gold. this is also the first report by opec—plus following the us elections. here's what president—elect donald trump has previously said about his energy policy. —— energy analyst saul kavonic so is what this will mean for the market. that "drill, baby, drill" approach is quite premature to think that is really going to impact supply. the reality is trump doesn't actually have many levers to pull to increase oil supply in the united states, deregulating the sector, opening up federal lands, removing some of the emissions requirements and so on is

actually not what is holding back supply in the united states. we have seen in the last several years is the rocks have evolved, the big major oil and gas companies moving to these basins and it is about capital discipline, returns to shareholders and so actually, the oil supply growth out of the united states is not likely to materially increase as a result of second trump administration. we could see some side effect could send oil prices higher for other reasons. the trump administration is also talking about replenishing the strategic reserve and that could increase demand for oil over the next one or two years. we're also seeing a much more likely scenario with the united states placing sanctions and enforcement on the sanctions on iran that could remove up to one or even 1.5 million barrels a day from the market and it

could embolden israel's military posture as well which poses a heightened risk of an increase in conflict in the middle east, which could more directly impact supply notjust from iran but in neighbouring states and through the strait which accounts for 20% of the world's oil and lng supply. you are seeing signs trump will pull away from lots of decarbonisation policies, parts of the inflation reduction act, removing the united states from the paris accord and that could slow some of the rollout of green technologies, which could be bolstering oil demand orfurther up the pressure of oil prices. while there are some negative risks such as that "drill baby drill" policy that could see oil prices subside, on balance i think there is more likelihood the risk is to the upside of oil prices as a result of a trump administration. i want to show you the world's

most expensive greenstone. this 37 karat emerald has sold at auction for $9 million the square jewel is set within a diamond brooch sold in geneva on tuesday with the auction house sang its huge size and colour and high degree of transparency made it exceptionally rare. it toppled the previous record holder belonging to elizabeth taylor. that's it for this additional business today, thank you for watching.

hey, i'mjulia with the catch up! tonight — theo james on the climate, gary lineker�*s big news, and a t—rex glow—up. but first, the archbishop of canterbury, the most senior leader in the church of england, has quit. it's after a report says he failed to take action about a child abuser — who was connected to the church back in 2013. he's apologised to the victims. the climate conference cop 29 is underway, and keir starmer said he wants to cut emissions by 81% by 2035. actor theo james will be there too, and he's calling for more support

for refugees affected by climate change, after he spoke to victims in mauritania. she had five children, and i asked her what she would want to convey herself. and she said, "tell world leaders "at cop that we are thirsty, we are deeply thirsty." some other stories now. gary lineker is stepping down from match of the day. the 63—year—old will have hosted it for 26 years by the time he leaves next may. he's come a long way since his first go, in 1999! hey, tell you what, football's back! any good? have i got thejob? and an "improved" pill is going to be on offerfor people wanting to quit smoking. the pill fights cravings, and nhs england says it's as effective as vaping, and more effective than patches and gum. and here's ten seconds of a festive dino! is it acceptable to don a christmas jumper yet? well, the t—rex at london's natural history museum very much thinks so! his new look

was revealed today — complete with a santa hat. you're all caught up now. see ya! hello and welcome to sportsday. i'm gavin ramjaun. sinner puts on a show for the home crown at the atp finals. the italian comes through a tough test against taylor fritz. no holding back the holders — as barcelona score 7 to underline their status as one of favourites again in this year's women's champions league. and trying to get more women behind the wheel in formula e. a british driver is top of the timesheets in spain.

hello there, and welcome along to the programme. it was always going to be a treat for the home fans in turin to see world number one jannik sinner in action at the atp finals, and he really turned on the style at the season ending event, to defeat taylor fritz. it was an entertaining 6—4, 6—4 win for the italian, who was pushed early on by fritz, but ultimately came out on top for his second win of the tournament so far. the win extends his great form on the indoor hard courts. sinner can make it three from three in the groups, when he takes on fourth seed daniil medvedev on thursday. fritz will be looking to secure a crucial win against alex de minaur in his bid to advance to the semi—finals for a second time. former champion daniil medvedev beat alex de minaur earlier in the day. the russian lost his first group game, but has kept himself in with a chance of reaching the knock—out stage. he won in straight sets and didn't face a single break point.

there was no stopping the womens champions league