of pension funds today, with a new system to unlock £80 billion of investment. scientists have discovered the largest single known piece of coral in the southwest pacific ocean. now, with all the latest sport, here's pippa horn. now, it's all eyes on the football because tongight, england head to greece for an away clash in the nations league. this follows the withdrawal of nine england players for the matches against greece and the republic of ireland. captain harry kane says he isn't happy with the number of dropouts, but interim manager lee carsley insists that there aren't any problems. the focus has been on the players that are here, it is important that we make the most of this situation. with the amount of players that have pulled out, it gives other players

an opportunity to be here. we're really looking forward to the game. it will be a tough test for us, and with the amount of pull—outs we have had this window, historically it has been like that in the past. november has always been a challenging window. like you said, the culture and environment that gareth and steve and the rest of the staff created has made it a positive environment. the players that are here fully deserve to be here and are ready for the game. also in the nations league, belgium face italy on thursday while israel have an away fixture against france. the aviva stadium will host finland, who hope to avenge their 2—1 defeat last month against the republic of ireland. plenty of other matches to bring you as well, and of course, live text coverage will be available on the bbc sport app and website. over in turin, alexander zverev claimed a second victory at and after being postponed yesterday due to severe weather warnings, the billiejean king cup has kicked off in malaga today. ana bogdan secured the first win of the day for romania,

with a straights sets victory overjapan�*s nao hibino. japan have levelled the tie at one all after ena shibahara claimed the second singles. a deciding doubles will determine who goes through. now, it's excitement in the boxing world because former world heavyweight champion mike tyson will face jake paul on friday. the 58—year—old boxing legend hasn't fought professionally in 19 years. in the final press conference before tonight's weigh—in, youtuber—turned—fighter jake paul, dominated the microphone, while tyson was a man of few words. the fear of losing is too much fighting than dying. what could you lose if you lose this fight? thank you. i'm not going to lose. cheering. you said that in the last minute... i am not going to lose, did you hear what i said?

and the eagerly—awaited rematch between katie taylor and amanda serrano is the co—main event. they go head to head for the undisputed super lightweight title. in 2022, the pair fought at a sold—out madison square garden, with taylor winning the fight by split decision. she aims to repeat that fate tomorrow night. three—time olympic medallist lindsey vonn is returning to skiing more than five years after she retired from the sport. the american retired in february 2019 but has announced her competitive comeback after undergoing a successful knee surgery in april. she made her world cup debut aged 16 in 2000 and went on to win a host of acolades. amongst her collection are 20 world cup titles and eight world championship medals.

and after the first round of dp world tour championship in dubai, rory mcilroy and tihrell hatton share the lead. mcilroy was the favourite to win the european tour�*s season—long race to dubai title and well, it looks like he's well on the way. he shot 5—under 67 with tyrrell hatton doing the same. a top—10 finish for mcilroy means he will win the race for the sixth time in his career. and that's all the sport for now. back to you, matthew. the european union has said that countries at the cop29 climate summit in azerbaijan are still "way off" agreeing a target for financing efforts to counter climate change. delegates are trying to agree how much richer countries, development lenders and the private sector can provide each year to help developing countries finance the transition to greener energy and protect against extreme weather.

held up signs saying, "pay up". climate activists at the baku stadium hosting the conference held up signs saying, "pay up". experts say a deal is needed to provide developing countries with at least a trillion dollars a year by 2030. live now to maria susana muhamad gonzalez — she's the minister of environment and sustainable development for colombia. shejoins me from baku, where cop29 is taking place. i will come to the various questions around finance in a moment but let me start by asking you a general question. just how important is this cop29 gathering for a country like colombia? it cop29 gathering for a country like colombia?— like colombia? it is strategic because we _ like colombia? it is strategic because we need _ like colombia? it is strategic because we need to - like colombia? it is strategic because we need to assure l like colombia? it is strategic i because we need to assure that we will be able to have the most needed contention of finance that allows to make a just decision in this climate crisis. so we have to be here, present, and we have to be at the discussion so that we can assure the fairness that the parties have made a promise and

2015. �* , ., parties have made a promise and 2015. ~ _, _, y parties have made a promise and 2015. ~ y ., 2015. and your country, of course. — 2015. and your country, of course. are _ 2015. and your country, of course, are so _ 2015. and your country, of course, are so vulnerablel 2015. and your country, of. course, are so vulnerable to those extreme weather events and you have had so many through the course of the year. please give me an idea of the impact because as we are speaking, we are looking at some of the pictures recently of the flooding that you have had? , , . , ., had? yes, it is emergency after emergency- _ had? yes, it is emergency after emergency- we _ had? yes, it is emergency after emergency. we have _ had? yes, it is emergency after emergency. we have had - had? yes, it is emergency after emergency. we have had at - had? yes, it is emergency afterj emergency. we have had at the beginning of the year, if you remember, fires that spread because of the jolt caused and then the territory became so vulnerable because of the jolt and the lack of order so when the rain season came, it is causing now in some regions, these very large flooding is. say one thing leads to another and it has become emergency after emergency —— draught. i5 after emergency —— draught. is dogged by finance because what you think is the minimum that is required from this cop29 gathering? and what would use the money for? —— let's talk

about finance. the money for? -- let's talk about finance.— about finance. we have to understand _ about finance. we have to understand that _ about finance. we have to understand that when - about finance. we have to understand that when the | understand that when the parties agree and they want 100,000 million dollars or $100 million was agreed, the planet was not at the temperature that we have today. from the finance perspective, 20 to 25, we had challenging i now into a 2k, we are entering another climate regime which means that the loss and damage is diminishing, emissions are not going down and it is possible that in the next five years, the conditions will be getting worse. this equation is becoming clear. the less we do on mitigating the gases that create climate change, the more costly the account will be every five years. so now, the $20 to be logic in of the loss and damage

and the requirement for a just transition. —— trillion dollars. transition. -- trillion dollars-_ transition. -- trillion dollars. ., . ., dollars. to include in that, movinu dollars. to include in that, moving a _ dollars. to include in that, moving a clutch _ dollars. to include in that, moving a clutch like - dollars. to include in that, moving a clutch like yours| dollars. to include in that, - moving a clutch like yours from them use of coal because you are still a huge producer of coal? that increased 10% in 2023. , ., coal? that increased 1096 in 2023. , , ., 2023. yes and because of the format situation _ 2023. yes and because of the format situation generated i 2023. yes and because of the i format situation generated men that we cannot use our hydropower filly. that we cannot use our hydropowerfilly. we that we cannot use our hydropower filly. we are not counting down the requirement in the next 15 years at columbia replaces its income from the export of fossil fuels as the markets will be closing as the markets will be closing as the markets will be closing as the world decarbonise is. the full economic transition is not even factored there but thatis not even factored there but that is why we are also asking for increased access to capital rates that are for a new growth perspective. this is not what is happening after covid. after covid, country have become much more adapted. the access to

capital has become super expensive so we are also dealing with the climate. the equation is not adding up. tell me what you _ equation is not adding up. tell me what you are _ equation is not adding up. tell me what you are doing about the amazon rainforest which crosses into colombia. we have seen with the new administration in brazil, they have done a lot to stop illegal logging but when you look at the figures in colombia, you are losing between 800 and 900 square kilometres a year. do you have to recognise that you have to do more to stop that? it is a vital knot at columbia but for the of the world? in vital knot at columbia but for the of the world?— vital knot at columbia but for the of the world? in 2023, we had the least _ the of the world? in 2023, we had the least deforestation i the of the world? in 2023, we had the least deforestation in | had the least deforestation in 23 years. it was a record year for a 23 years. it was a record year fora diminishing deforestation. in the two years of president pedro, we have had historical numbers in decreasing deforestation. it was a 60% descent from 2021 to 2023 foot of the question is if we can sustain this. the

government of colombia put money every year it was the problem in the amazon but with the fiscal constraints, we will not be able to put the same amount of money in 2025. that is where part of the discussion at cop 16, is how'd we guarantee for fundamental pillars of climate stability, resources that are sustainable, flexible and can actually influence change in the territories.— influence change in the territories. maria susana gonzalez. _ territories. maria susana gonzalez, thank - territories. maria susana gonzalez, thank you - territories. maria susana| gonzalez, thank you very territories. maria susana - gonzalez, thank you very much forjoining us there from baku. let's stay with the weather and extreme weather we have been seeing in different parts of the world. red weather alerts have been lifted in southern and eastern spain following 2a hours of heavy rain. malaga saw its heaviest rainfall in 35 years with roads left submerged and schools forced to close. it comes after more than 200 people died following flash flooding in the valencia region last month. let's speak to roman qayo —

the owner of a restaurant that was hit by a tornado yesterday morning. just describe what it has been like where you are.— like where you are. good afternoon. _ like where you are. good afternoon. i— like where you are. good afternoon. i have - like where you are. good afternoon. i have a - like where you are. good - afternoon. i have a restaurant and both are on the sea. sadly, yesterday, we came in the morning and it was very nice and there was a lot of rain, and there was a lot of rain, and there was a lot of rain, and the advice was that there will be a very heavy day of water. it was very high, the rain was extremely strong. suddenly, i was on the beach where we were working and suddenly we saw someone coming

from the sea, i don't know how to explain, like a tornado but very high. it was about five metres high and came very close to me. it passed through me and went through the restaurant and i could not believe what it had done, it destroyed most of the restaurant. we done, it destroyed most of the restaurant-— restaurant. we are seeing pictures— restaurant. we are seeing pictures of _ restaurant. we are seeing pictures of the _ restaurant. we are seeing pictures of the damage. i | restaurant. we are seeing - pictures of the damage. i know in valencia, there was so much anger about the preparations, the alerts people were given. where you querying given updates from the authorities about the extreme weather coming in?— about the extreme weather cominu in? ._ ., ., coming in? the mayor and the olice coming in? the mayor and the police and _ coming in? the mayor and the police and the _ coming in? the mayor and the police and the fire _ coming in? the mayor and the police and the fire brigade - coming in? the mayor and the police and the fire brigade alll police and the fire brigade all came to send me a message, that we expected there to be very heavy rain all over malaga and the province, even while they are, there was going to be very strong rain, which it was, very

high. but that wider came right through the sea and it was so high and strong —— a tornado. it went through my restaurant on the side of the terrace and took everything away, destroyed everything. and then you see the damages and it was unbelievable. everyone said they had never seen anything like it. ~ ., ., ., like it. we had to leave it there but _ like it. we had to leave it there but thank - like it. we had to leave it there but thank you - like it. we had to leave it there but thank you for i there but thank you for describing it. it sounds like an awful 2a hours for you and good luck in terms of trying to piece things back together. thank you very much for talking to us here on the programme. all the best for the bbc. thank ou ve all the best for the bbc. thank you very much. _ all the best for the bbc. thank you very much, good _ all the best for the bbc. thankl you very much, good afternoon. around the world and across the uk. this is bbc news.

let's return to those events in washington. the appointments that are becoming clearerfrom donald trump and the rows or so that a flowing out of that. let me tell you in the last few moments, the republican us senatorjohn cornyn has told reporters that he absolutely wants to review an unreleased congressional ethics report on matt gaetz. the president elect�*s nominee for attorney general. we know that was likely to be published in two days' time. those allegations of six trafficking and drugs but of course, he resigned only yesterday and is donald trump as mike pick for attorney general and so a lot of thought about whether we will see that report published now that he has resigned. senior public and senator say he absolutely wants to refer that report before you

get to the stage where the senate ratifies the pics that have been put forward for donald trump. that is a story thatis donald trump. that is a story that is clearly continuing to move. here, the chancellor is preparing to announce plans for a big pensions shake up. rachel reeves wants to create pension "megafunds" — designed to help unlock billions of pounds of investment for businesses and infrastructure. she says britain's pension funds are "too small" and are holding back the economy. she outlined her plans to the bbc�*s faisal islam. after a chilly reception from some retailers to her budget tax rises, the chancellor is now in search of some fast growth in the economy. so what's this machine doing? the budget brought stability back to our economy, brought stability back to our public finances, and also created the opportunity for the uk to boost public investment in things like energy and schools and hospitals. but we need we know we need to do more to grow our economy.

the chancellor was opening this london laboratory, experimenting with state—of—the art personalised immune therapies. she says successful british companies like quell often don't get the very biggest investments needed to grow into world beaters because our pension funds are too small. she's going to force them to merge into mega funds. this is the kind of decision that will help us get access to that capital and mean that we can actually build quell therapeutics out as a meaningful, uk—based biotech. made in britain. so made in britain from the science in the first place to the founding investment to actually becoming a long term institution in the uk. so rachel reeves is still having to defend her budget tax and spend experiments, but now she wants to talk about how to grow —— the british economy with a series of big changes to pensions creating mega funds, for example.

but at this precise moment, enter donald trump with his own plan that could upend the world economy as we know it. president elect trump has said every import into the us, including even from britain, could face a 20% tax. experts say it could see a £22 billion hit to british exports. i don't think we should jump to any conclusions about what an incoming us administration will do. the uk and the us trade is worth more than £300 billion a year. that's good for britain, but also, frankly, it's good for the united states of america. you can persuade donald trump, you think? well, we have worked with a trump administration in the us before, and trade flows between the uk and the us grew during that period. i'm confident that we can work in partnership with the new trump government to ensure that those trade flows continue. so making pension funds big enough to back britain and persuading trump against a trade war are the chancellor's much—awaited big bang for growth. faisal islam, bbc news.

let's speak tojohn ralfe, an independent pension consultant and former adviser to the work and pensions select committee. what do you think of this idea of mega pension funds? there are two very — of mega pension funds? there are two very different - of mega pension funds? there are two very different things, l are two very different things, quite different things going on here. the first is dc, basically private sector where you send your own money for pension, your pot and you are taking the risk and that is taken off with auto enrolled in the next four years, and on the other hand we have got local government pension schemes which sit there with assets. you would think that it would be easier for the government to tell the local government pension tell the local