hello and welcome to business today. i'm steve lai. donald trump has confirmed that the tech billionaire, elon musk, will lead a government efficiency department come january. 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. musk became a key ally to trump during his campaign, reportedly spending well over $100 million to help the republican win.tech analyst mario morales weighed in on what musk�*s appointment in particular could mean 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 held a fireside chat with the chief executive of softbank group masayoshi son earlier this morning. the two companies have piloted the world's first ai and sg telecoms network, which can be used by autonomous vehicles. nvidia has been hosting a two—day artificial intelligence summit in tokyo — focused onjapan�*s ai ambitions. our guest mario morales also explained why the tech giant is focusing so much on asia right now. 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. jaguar has stopped selling

new cars in the uk ahead in other news — meta has cut the price of ad—free subscriptions by a0 percent for users in the eu as it looks to meet regulatory demands designed to curb the power of big tech companies in europe. meta's ad—free subscription service was introduced in the eu last year, after the company was fined over $400 million for breaching privacy laws. jaguar has stopped selling new cars in the uk ahead of its relaunch as an electric—only brand in 2026. any remaining cars in uk dealerships will be sold as second hand vehicles and no new cars will be shipped to the uk. the car manufacturer — who are owned by india's tata motors — announced the transition to electric vehicles back in 2021. shares of indian food delivery and e—commerce giant swiggy are now trading in mumbai. this is the second startup after zomato to have gone public. these companies have revolutionzed the way urban indians orderfood, but increasingly its their grocery delivery operations that

are driving growth. the bbc�*s nikhil inamdar has more from mumbai. it looks like i have run out of milk for my morning coffee. what i will do is place a quick online delivery order. i have at least three of what are called quick apps in my phone. swiggy says it will do the delivery in just 11 minutes. another app says it will take ten minutes. another 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 mumbai and delhi are full of these riders, delivering everything from garlic to green

tea to consumers like me. it's created millions of jobs for young workers. but not everyone is happy. this is the high street right under my building. with online delivery becoming so easy and convenient, i myself am not coming here to buy things such as fruits and vegetables, or soap and shampoo even, for the last year or so. retailers like this man, whose family have been running the shop for the last 71 years, have been feeling the impact of the trend. translation: footfall is down by half in the last year or so. i we cannot compete on prices either. the online retailers have cash to burn and can offer big discounts. we are seriously considering closing down. one estimate suggests as the app has grown some 300% over the 200,000 mum and pop stores have shot down in just

the last year. now these delivery companies seem to be having a bit of a moment under the sun. collecting billions of dollars from the stock market. there are concerns that they haven't yet turned any profit as 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 riders. 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 weakeness 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. energy analyst saul kavonic explained what a second trump administration could mean for the oil 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 growth 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 tougher 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. we 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. before we go i want to show the world's most expensive greenstone. this 37 7 emerald but nearly $9 million, set within a diamond brooch sold on tuesday. the green tone and high degree of transparency made it a rare piece according to the auction house. thanks for your company, i will see you again.

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 thejob7 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 yet7 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 crowd 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 holders barcelona — who ran riot against st polten

— winning 7—0.