are at risk in a major shake up are at risk in a major shake up of the uk's post office. of the uk's post office. also coming up, living the stream! spotify soars as millions more spotify soars as millions more tune in to the music service tune in to the music service and it heads for a full and it heads for a full year of profits at last. year of profits at last. and, tough times in toyland — and, tough times in toyland — retailers unveil their retailers unveil their top christmas list top christmas list but with family finances but with family finances stretched, how many will make stretched, how many will make it into santa's sack this year? it into santa's sack this year? live from london, this is business today. i'm sally bundock. i'm sally bundock. we start in germany because europe's biggest economy is facing uncertain times. in the next few hours, in the next few hours, chancellor olaf scholz chancellor olaf scholz will address germany's will address germany's parliament, the bundestag, parliament, the bundestag, after the collapse of his after the collapse of his ruling coalition last week. ruling coalition last week. the country now faces a snap the country now faces a snap election in february. election in february. before he speaks, though, before he speaks, though, germany's council of economic germany's council of economic advisors will be giving advisors will be giving their latest forecasts their latest forecasts for next for next year, and they won't be pretty.

year, and they won't be pretty.

for next year, and they won also pretty. for next year, and they won also a 'etty. stalled but there is also a feeling of political crisis here in berlin and those two things are linked. in fact the political crisis sparked by the collapse of the governing coalition left last week was in part caused by the slowing economy because the row which led to the governing coalition fall apart was caused by money. namely the question of how much debt germany should take onto fund spending. the german chancellor olaf scholz wants to take on more debt and says they can afford it and given the rising cost connected to russia's war against ukraine and germany's support for ukraine, which means massive spending and arms, the chancellor says this is an emergency so more debt is needed. says party is a small party, his opponent, he says germany should not be taking on more debt and he wants instead to cut spending in particular

social welfare spending. those two positions have become incompatible partly because of the fact that money is tight with a slowing economy. when this rather unusual 3—way coalition between olaf scholz centre—left democrats, the free market liberals and the green party came together three years ago they solved any differences by throwing money at the problem. they wanted to spend big, pleasing their voters but of course that is increasingly difficult now with the slowing down economy. holger schmieding is chief economist at the hamburg based private bank berenberg. always good to see you. first of all, give us your thoughts on the news we will receive today about the state of the german economy. the german economy is — german economy. the german economy is stagnating - german economy. the german economy is stagnating with - german economy. the german i economy is stagnating with the risk of a mini recession and most likely it is not going to get better over the next

quarter or two. we first need to resolve the political uncertainty and after the elections may be a gets better but until then, the outlook is not pretty. but until then, the outlook is not pretty-— not pretty. looking at elections _ not pretty. looking at elections on - not pretty. looking at elections on february| not pretty. looking at. elections on february 23. not pretty. looking at - elections on february 23. it is not clear what the outcome will be. what do you think is likely to happen?— be. what do you think is likely to happen? the outcome of the elections is _ to happen? the outcome of the elections is very _ to happen? the outcome of the elections is very likely - to happen? the outcome of the elections is very likely going - elections is very likely going to be a different government where the current mainstream opposition, the centre—right pro— market cdu will be in the pole position and need a coalition partner from the ce ntre—left, coalition partner from the centre—left, probably the sdp of the current chancellor olaf scholz and if and when the two parties will have to form the next coalition form agree on a new programme, then things can hopefully get better. i this is the issue,. hopefully get better. i this is the issue.-— the issue,. what is the right -lan the issue,. what is the right [an for the issue,. what is the right plan for germany _ the issue,. what is the right plan for germany going - the issue,. what is the right - plan for germany going forward? that was the argument between olaf scholz and christian

lindner. what you think is the right plan? is it about huge investment? is it about germany borrowing to invest or not? it is to some extent germany borrowing to invest, about germany borrowing a bit more to put the funding of the military, to put the funding of the support for ukraine on a secure long—term basis but it will need a big compromise between the two sides, the centre—right and the ce ntre—left. centre—right and the centre—left. the centre—right will and should concede, yes, we need to create more physical space as a centre—left demands but in return the centre—left would have to concede, yes, we need a pruning of welfare and pension benefits and if we get this compromise which the outgoing coalition was not able to do, if after the new elections, if that is reshuffled, and we get the compromise, then the country could actually have a better economic future. especially at

one point as in addition, that mirror uncertainty and bickering of the government over the last 12 months has been to the detriment of investment and there is uncertainty and this would likely be resolved with new elections at the end of february. elections at the end of february-— elections at the end of februa . �* , �* february. briefly, i'm getting the impression _ february. briefly, i'm getting the impression from - february. briefly, i'm getting the impression from you - february. briefly, i'm getting the impression from you that i the impression from you that actually you are hopeful going forward that this snap election in february will help move germany onto the next level at a critical time?— a criticaltime? yes, i am hopeful. _ a criticaltime? yes, i am hopeful, political- a criticaltime? yes, i am . hopeful, political uncertainty over the last 12 months has been bad for growth and sentiment. that will be resolved and we will likely have a fresh start with the new government, with probably compromise on physical space but also on some of the progrowth reforms including business tax cuts, which the country needs. now to the uk where, as you've been hearing, a major shake—up of the post office is set to be announced

in the next few hours. the organisation is the subject of a long—running inquiry into the horizon it scandal, in which hundreds of sub—postmasters were wrongly prosecuted after faulty software made it appear money was missing from their accounts. so what do we know? the bbc understands that 115 loss—making branches wholly owned by the post office could be closed. these sites in city centres, known as crown post offices, employ around 1,000 workers. in addition to this, hundreds ofjobs are under threat at the group's headquarters. the post office is looking at whether another operator could take on the branches instead. the post office's new chairman nigel railton will brief staff on wednesday on the outcome of a review launched earlier this year, aimed at putting the business on a firmer financial footing. there is lots more on the bbc web site and bbc news app —

and of course we will be following the latest developments when the details are announced in just under four hours' time. now to the global un climate talks, the cop29 summit, under way in baku, azerbaijan. delegates from around the world are discussing how to limit global warming levels which are predicted to hit the threshold of 1.5 degrees above pre—industrial levels this year. on tuesday, the heads of the international monetary fund and the world bank said they will work with the incoming trump administration to continue to provide financing to developing countries hit by climate change. today though there's a warning of a global skills shortage as economies around the world look to cut carbon emissions. business networking firm linkedin says the demand for green skills is soaring but not enough people have them. sue duke is vice president of global public policy at linkedin.

good to have you on the programme. what are you seeing on linkedin in terms of demand and lack of supply? the demand continues to _ and lack of supply? the demand continues to search, _ and lack of supply? the demand continues to search, year - and lack of supply? the demand continues to search, year in - continues to search, year in and year out, including this year where we saw sluggish hiring across the broader economy. not when it comes to green skills. if you take the uk for green skills. if you take the ukfor example, green skills. if you take the uk for example, today, one in every eightjob postings in the uk is looking for green skills, up uk is looking for green skills, up 50%, year—on—year. we are not seeing supply keep pace with that demand. if we keep going at the current rate, by 2050, that deadline year for us to meet the net—zero target, we will have as manyjobs out there looking for green skills as we have workers with green skills, that is why we have to get to grips with this skill mismatch and start rolling out and scaling up retraining

programmes so we can give workers the skills they need to meet the demand to take advantage of these opportunities and to activate their role in the green transition.— their role in the green transition. . ~ ., transition. what kind of skill are we talking _ transition. what kind of skill are we talking about - transition. what kind of skill are we talking about and - transition. what kind of skill i are we talking about and which sectors are in most need? across the board. the scale and speed of this transition means we need to get green skills into the hands of workers in every sector, in every country across the world. where we see real strength right now coming through is in areas like renewable energy sector, there we see real strength in areas like biomass and wind but no question, solar is so to speak the hottest green skill in the renewable sector right now. four out of the top ten fastest—growing skills in that sector are related to solar and we see real strength in countries like brazil, the us, and spain, where companies are

going out, looking to get those skills, looking to get those workers so they can make this transition. workers so they can make this transition-— transition. interesting. thank ou. to wall street now, where the mood has been buoyant since donald trump's election win sparked a major stock market rally. and there's another reason to be cheerful bankers bonuses are set to rise for the first time in three years. our north america business correspondent michelle fleury investment bankers in debt and underwriting, those who qualify us for a loan other big winners. this group could see their end of year bonusjump by “p their end of year bonusjump by up as much as 35% and those who help companies sell stock with the increases of up to 25% while traders could see a jump of 15— while traders could see a jump of 15- 20%. but while traders could see a jump of 15— 20%. but not everyone is in line for a hefty increase. retail and commercial bankers

are not expected to see much of are not expected to see much of a change. bonuses often make up a change. bonuses often make up a big chunk of pay at financial firms and they have gone down over the past two years but thanks to lower interest rates, i bump in dealmaking and booming financial markets, the mood has brightened. with donald trump's return to the white house fuelling hopes for lower taxes in this regulation, many on wall street are hoping that 2025 will be even better. well that trump rally seems to have run its course for now. shares on wall street fell on tuesday yields on us treasury bonds — effectively the interest rate charged by the market to the us government — have jumped on concerns about trump's planned tax cuts boosting us debt levels and inflation. all attention now shifts to us consumer inflation numbers out that may provide a clue about the pace of future interest rate cuts from the federal reserve.

let's take a look at how asia is faring: markets are heading south and much of the impact of donald trump trade and tariffs on goods are being felt in equity markets in asia but i want to mention the highlight for the indian markets, a food delivery at their is floated on the market and had a stock market debut, ziggy, and its shares are up 7.7%, it is called swiggy. colleen mchugh is chief investment officer at the consumer investment platform wealthify. nice to see you. it will be in on, won't hurt, to get the us economic data today given the position we are in both the election?—

position we are in both the election? ~ , , , , election? absolutely. this is the first piece _ election? absolutely. this is the first piece of— election? absolutely. this is the first piece of critical- the first piece of critical economic data that the fed will be scrutinising post the election last week and indeed the decision last week to cut interest rates further by 85 basis points. forecasters today are of the view this will be firmer than the september number, third september we had 2.4%. despite last week, the fed chairjerome powell reiterating focus on the job market and being less concerned about inflation, you have to think that surely the fed will need to consider the inflationary risk posed by donald trump and his second term and remember the fed does have a dual mandate, notjust about possibility but maximum employment. markets are continuing to price a further 25 basis point cut in december but a lot can happen in the next couple of weeks. indeed! a lot can happen _ next couple of weeks. indeed! a lot can happen within _ next couple of weeks. indeed! a lot can happen within 24 - next couple of weeks. indeed! a

lot can happen within 24 hours! | lot can happen within 2a hours! when it comes tojerome powell and his team at the fed, they will be extremely cautious i would imagine for a few months because they basically have to wait and