and as we start looking ahead to christmas, we'll explore why panettone has become such a popular festive dessert live from london, this is business today. i'm sally bundock. we start with the abrupt resignation of carlos tavares, the boss of stellantis — one of the world's biggest carmakers. the company suffered a profit warning two months ago and has seen a sharp decline in market value this year — a drop of a0%. stellantis, which owns the peugeot, fiat and jeep brands, said in a statement on sunday it has accepted the resignation of tava res, without explaining exactly why he had stepped down.

the company will find a replacement chief executive in the first half of next year. here's our business correspondent, theo leggett. applause before his resignation, carlos tavares was one of the most powerful people in the global motor industry. he had a reputation as a ruthless cost—cutter, first at the french group psa, then, following its merger with fiat chrysler in 2021, at stellantis. initially, that stella ntis. initially, that merger went stellantis. initially, that merger went well, with the combined group producing a profit of 18.6 billion euro last year. but since then, stellantis has struggled. in north america, dealers found themselves unable to clear a backlog of models that customers simply didn't want to buy. in europe — like other manufacturers — it's been hit by competition from chinese brands, and difficulty selling electric cars. earlier this year, mr tavares said the company was in a darwinian struggle for survival. colleen mchugh is the chief investment officer at wealthify.

good morning to you, colleen. good morning to you, colleen. good morning, sally. this news is hot on the — good morning, sally. this news is hot on the heels _ good morning, sally. this news is hot on the heels of _ good morning, sally. this news is hot on the heels of the - good morning, sally. this news is hot on the heels of the news| is hot on the heels of the news we got lost week about factories in luton having to close down, the real pressures on this company, because of the competition from china and elsewhere. but it is seemingly surprising that he's decided to step down so abruptly? i think so, es. step down so abruptly? i think so. yes- your— step down so abruptly? i think so, yes. your previous - so, yes. your previous commentator mentioned he was due to step down early in 2026. he was very instrumental in deal—making over his tenure. i think what's happened is there's been increasing tension between him and other board members on how to put the company back on track following a steep decline in reported profits. and, as you mentioned, this is due to slumping sales in the us, but also europe. unfortunately, it's the second time in as many days that stellantis has been in the news after last week announcing the

closure of its vauxhall van—making plant in luton. certainly not a good few days for the company. the share price — the company's really had a rough time year to date on shares, down about 43%. for context, sally, if you look at us rival ford, they're down about 7%. and general motors, in contrast, are up about 55%. so, really mixed fortunes for car companies at the moment. but you can understand the pressure on stellantis pressure on stella ntis specifically, pressure on stellantis specifically, with its steep drop in the market value in a year. it puts the pressure on the board and the chief executive, and it would seem theyjust executive, and it would seem they just could executive, and it would seem theyjust could not see eye to eye, as you say, on the best way forward. and in this case, the ceo had to go? absolutely. yes, he the ceo had to go? absolutely. yes. he came _ the ceo had to go? absolutely. yes, he came out _ the ceo had to go? absolutely. | yes, he came out second-best, yes, he came out second—best, it would seem, in this instance. and i'm sure there'll be more insights to follow as the day progresses. but definitely some tensions in how to, you know, deal with slumping sales and how to bring

the car manufacturer, the auto—maker, forward — especially amongst the increasing pressure coming out of places like china. find increasing pressure coming out of places like china.— of places like china. and we'll see more _ of places like china. and we'll see more of— of places like china. and we'll see more of this _ of places like china. and we'll see more of this today - - of places like china. and we'll see more of this today - vw, | see more of this today — vw, some of the workers are expected to hold strike action today as vw faces the same pressures, the same competition from china, and radical restructuring required at vw? yeah. look, everyone knows volkswagen, like no other company, really symbolises the economic miracle of germany's post—world war ii recovery. the company and the country are so intertwined. what's happened to volkswagen is similar to other car manufacturers — it lost the ev race in china in 2022 to local brands such as byd, and those same chinese brands now are taking their european share and exporting more and more.

so, yes, they've been locked in bitter talks with the union since september, really, when they announced that they were considering closing down their first factory in over its 87—year history. the culmination — you're right — we see today in the warning strikes which are going to happen across plants in germany, and shares down 28% for the year, and really have performed poorly over a five—year period. performed poorly over a five-year period.- performed poorly over a five-year period. ok. colleen, thank you _ five-year period. ok. colleen, thank you again _ five-year period. ok. colleen, thank you again for _ five-year period. ok. colleen, thank you again for your - five-year period. ok. colleen, thank you again for your time. chief investment officer at wealthify. now to france, where it's a make—or—break week for the eu's number two. the fragile french assembly led by prime minister michel barnier is heading toward a perfect storm of political and financial crises that could lead to its collapse. marine le pen�*s far—right national rally is threatening to pull the plug on the coalition government over plans to rein in the massive french deficit. madame le pen has given the prime minister until today to answer her demands to amend

his government's budget plans. joining me now is charlotte de montpellier, senior economist at ing economic research. charlotte, good morning to you. good morning. this charlotte, good morning to you. good morning.— good morning. this is real pressure _ good morning. this is real pressure on _ good morning. this is real pressure on the _ good morning. this is real pressure on the prime - good morning. this is real - pressure on the prime minister in france. talk us through what's at stake here. basically, the ground is very fragile, as you said, and the left and far—right — they could bring it down this week if they decide to vote together on a motion of no—confidence. the thing is that the government will use a special article of the constitution in order to pass the social economic budget from next year. if the government does that, indeed, there could be a vote on a motion of no—confidence. it means probably on wednesday or thursday, there will be this vote. if the left and far—right decide to go together, it means

that the government will be gone and a new government will need to be appointed by president emmanuel macron. there are several options there, but it's very risky because it cannot dissolve the assembly and it cannot call for assembly and it cannot call for a new election again before july 2025. so, of course, a very important week. the big problem right now is the budget for next year. the thing is, the deficit is very high. there have been so many expenses this year, and so much more than expected. and the deficit is super high, and then it will bring it down. the issue is that the government does not have a majority in the parliament, so they cannot find a way to bring the deficit down.- and - a way to bring the deficit down.- and that. a way to bring the deficit - down.- and that makes the down. ok... and that makes the decision very. — down. ok... and that makes the decision very, very _ down. ok... and that makes the decision very, very difficult. - decision very, very difficult. probably if the government were to fall this week, it would mean that there won't be any budget voted for next year, so that's very important. of course, it does not mean that

we are going to see a shutdown in france — that's not going to happen. but it means that probably they will have to use the budget of 2024 into 2025 and will probably not be enough to put public finances in the system in the right direction. charlotte, what do you think will happen, then? it's probably very difficult for you to predict but, for all the players in this story — michel barnier, marine le pen, emmanuel macron — the stakes are very high for all of them, aren't they?— are very high for all of them, aren't the ? . , ., . aren't they? yeah, they are. we see it because, _ aren't they? yeah, they are. we see it because, clearly, - aren't they? yeah, they are. we see it because, clearly, the - see it because, clearly, the most likely option is changing all the time. so, at this stage, because we have heard a lot during the weekend, it seems that indeed marine le pen will probably vote the motion of confidence, so it means that probably at some point this week or the week after — because there will be several opportunities for her to vote this — we will see the

government falling. that seems to be the most likely option at this stage. but, again, it's a situation that is changing a lot. it also could be that it's just a way of negotiating and, at the end, she decides that she does not want to go into that direction.— she does not want to go into that direction.- in - she does not want to go into| that direction.- in which that direction. ok... in which case, it would _ that direction. ok... in which case, it would mean - that direction. ok... in which case, it would mean that - that direction. ok... in which case, it would mean that the | case, it would mean that the merger probably is also not in the right direction because there are so many concessions from the government. charlotte, thank ou from the government. charlotte, thank you for— from the government. charlotte, thank you for explaining - from the government. charlotte, thank you for explaining all - from the government. charlotte, thank you for explaining all of. thank you for explaining all of that. we will keep a very close eye. so have you been spending over the weekend to make the most of the black friday deals? today is cyber monday and struggling retailers are hoping the enticement of special offers will cause you to part with your cash if you haven't already. here in the uk, there was a surge in online shopping to snap up black friday bargains, with retailers hoping the us—inspired promotional day would kickstart a festive spending spree.

it's good news for retailers following a challenging 0ctober and start to november. data shows that in the uk online shopping was up by some 12% on last year whereas visitors to physical shops was down by 0.5% on the year before, according to nationwide.|t was a similar story in the us where shopping in stores was muted compared to consumers choosing to find bargains on their laptops and smart devices. joining me now is natalie berg, retail analyst & founder nbk retail — a consultancy specialising in retail strategy and future trends good morning to you, natalie. so, those initial data was coming from nationwide and mastercard. is that what you're seeing in terms of what's been going on over the last few days? going on over the last few da s? , going on over the last few da 5? , ., ., 4' going on over the last few da s? , , days? yes. look, this was the first real _ days? yes. look, this was the first real test _ days? yes. look, this was the first real test of _ days? yes. look, this was the first real test of consumer - first real test of consumer sentiment following the budget. i think it's clear that the consumer still has a pulse. consumers are feeling optimistic about their personal finances. perhaps they're a

little nervous about the economic outlook. but right now, they're feeling confident in their ability to spend. that's because inflation continues to ease. wage growth has been resilient. next year, minimum wage is going up. taxes are not going up, at least for many households. and i think all of this has really given shoppers the confidence to get out and go big this black friday. out and go big this black frida . �* , ., out and go big this black frida.�* ., , friday. but you say that, but the 're friday. but you say that, but they're not _ friday. but you say that, but they're not getting _ friday. but you say that, but they're not getting out - friday. but you say that, but they're not getting out and l they're not getting out and going big — if you look at the data, on the high street, it's down on last year.— down on last year. well, i think what _ down on last year. well, i think what we're - down on last year. well, i think what we're seeing . down on last year. well, i think what we're seeing is down on last year. well, i i think what we're seeing is a lot of the spending has shifted online. so, the majority of these sales now take place online because shoppers know they have greater — there's greater transparency, greater visibility over the deals, and i think what's also really helped this year is the timing of black friday, because it fell much later in the month. crucially, after payday for a lot of consumers. that also has really helped shoppers to get out and loosen their purse strings. out and loosen their purse strinus. ~ ., v out and loosen their purse strinus. . ., �*, ., strings. what's the outlook, thou . h, strings. what's the outlook, though. for—

strings. what's the outlook, though, for this _ strings. what's the outlook, though, for this christmas, | strings. what's the outlook, l though, for this christmas, do you think, for retailers? will it be a good christmas for the high street or not? i it be a good christmas for the high street or not?— high street or not? i think retailers — high street or not? i think retailers are _ high street or not? i think retailers are really - high street or not? i think| retailers are really nervous about this year. i think, if we look pre—budget, i think there was cautious optimism. but retailers are about to be hit with up to £7 billion in additional costs next year. this is coming off the back of a turbulent few years. we've had brexit, covid, the cost—of—living crisis. retailers have grown accustomed to a certain level of volatility and uncertainty. i think these additional costs are really going to hit the sector. and that's everything from an increase in national insurance contributions to minimum wage going up, business rates, a new packaging levy, and i think the real challenge is how retailers absorb these costs. inevitably, they will have to pass it on to consumers

in terms of higher prices. it will be a challenge to make sure retailers can absorb these additional costs.— additional costs. natalie, thank you- _ staying with retail, but heading to japan: now to japan where shares in fast retailing which owns clothing giant uniqlo are down today. that's after the bbc aired an interview with its boss last week saying that the firm is not using cotton from xinjiang. it's resulted in calls for a boycott in china. let's cross live now to mariko 0i in our asia business hub who did that interview with the boss of fast retailing, tadashi yanai. tell us what kind of reaction you've been getting. as you said, shares in fast retailing were down some 4%. they are making a bit of a comeback, but it is following that report, as you said. the initial reaction that i personally got after the interview aired was from

chinese netizens who were basically angry with uniqlo, calling for a boycott of its clothes. of course, cotton from the xinjiang region is a contentious issue because, even though it was once known as some of the best fabric in the world, it's fallen out of favour after allegations that it is produced using forced labour by people from the muslim uyghur minority. beijing has consistently denied these allegations and brands such as h&m which removed cotton from xinjiang in a couple of years ago were boycotted from china. at the time, i didn't confirm if the brand was using cotton from xinjiang. when i met him in tokyo earlier this month, he confirmed the company is not using cotton from xinjiang. in response, china's foreign ministry spokesperson said that they hope relevant companies can eliminate political pressure and negative interference and make independent business decisions that align with their own

interests. for uniqlo, they were trying to stay politically neutral, but were expanding in the us and europe, where consumers are increasingly conscious of where their clothing is made, whether it be from human rights issues or environmental concerns. uniqlo was criticised several years ago for not removing or not confirming that they removed cotton from xinjiang in the west. so they do have a very difficult, tricky balancing act to play. difficult, tricky balancing act to -la . ., ~ difficult, tricky balancing act to -la . . ~' , to play. ok. thank you very much for — to play. ok. thank you very much for the _ to play. ok. thank you very much for the latest - to play. ok. thank you very much for the latest on - to play. ok. thank you veryj much for the latest on that. around the world and across the uk, this is bbc news.

you're with business today. let's turn our attention — i'll put my teeth in! — to the energy market now... 0pec+ had been due to meet on sunday, but the meeting was postponed until this coming thursday — officials claim this is due to a diary clash, but analysts say there's more to the postponement.

it may, in fact, be a sign of disagreement between the alliance of major oil—producing nations over plans to increase output. gaurav sharma, energy analyst at 0ilholics synonymous. good to see you, gaurav. what are you hearing on the grapevine? why did they postpone their meeting? good to be back on _ postpone their meeting? good to be back on the _ postpone their meeting? good to be back on the programme, - be back on the programme, sally. i think a diary clash is not washing with the analyst community. i think what this is about is that there's discord in their ranks on how to approach the challenge of rising non—0pec battles and declining chinese demand. chinese demand is down by, depending on what you look at, something around 500,000 barrels a day — a substantial number. if you look at non—0pec barrels the, charge is being led by the united states, which is producing north of 30 million barrels a day. they're

grappling with this challenge — do they try to protect a price grow, do they retain their market share? there seems to be no broad agreement between the saudis — the main power brokers — and some of the smaller producers who perhaps would not like to lose market share. what like to lose market share. what do ou like to lose market share. what do you think — like to lose market share. what do you think is _ like to lose market share. what do you think is going _ like to lose market share. what do you think is going to - like to lose market share. what do you think is going to happen on thursday when they finally meet? will they be able to reach an agreement on what their plans are going forward? i suspect there'll be some broad consensus, a political headline issue that 0pec is going to rule over its existing cuts by, say, maybe four or five months. but behind the scenes, if you look at the market intel that's out there, some of the people who are a party to recent deals in 0pec that opec party to recent deals in 0pec that 0pec has struck, they're still producing more than what appears to be said in public. so there's that bit. and i think the market is kind of

pricing in that 0pec will roll over these cuts by four or five months, at least.— over these cuts by four or five months, at least. thank you so much. months, at least. thank you so much- we'll — months, at least. thank you so much. we'll be _ months, at least. thank you so much. we'll be across - months, at least. thank you so much. we'll be across that - much. we'll be across that 0pec+ meeting on thursday. in australia, the federal government has held a parliamentary inquiry looking into the challenges facing the live music industry. many venues have had to shut down, and major festivals are canceling events, but the appetite for big international acts remain robust. from sydney, phil mercer sent this report. live music was once the soundtrack to a thriving industry in australia. but a decline that began with the covid—19 pandemic and lockdowns has continued. musicians say it is the biggest crisis they've faced in a generation. many can barely make a living. i think it's really quite sad. i wish that australians would put as much energy into music as they do with sport.

i think, culturally, music is not very respected. since i have been singing here, i think the standard fee for a musician hasn't changed. in fact, it's gone down. many venues are facing higher insurance and other costs. on top of that, audiences are staying away because of cost—of—living pressures. small to medium venues are under pressure to survive. venue sustainability is a critical part of the puzzle. you lose a venue, you lose a community, you lose the infrastructure — and when they go, they don't come back. australia, though, is trying to reinvigorate its music industry. a national development agency was set up last year to provide support and investment. the federal parliament is also investigating the sector's challenges and opportunities. the aim is to bring the audiences back. the great club in sydney was run for four years

by alison avron. but rising business costs and an expensive noise dispute with neighbours have forced her to close the popular venue. my soul had been ripped out. i'd let so many people down. it wasn'tjust me. you know, my agents lost theirjobs, my staff lost theirjobs, and then the musicians and their gigs that were coming up. it caused such a stir. while many small to medium venues are struggling, interesting is big acts are sky high. more than half a million fans flocked to see taylor swift on her australian tour. katy perry and taylor swift put on a good show and they've got the money to do it and people want to know that when they go out, they are going to be entertained. they don't really want to take as many risk. music gives a voice to culture, but in australia, parts of the industry are facing a battle to rediscover

their rhythm. phil mercer, bbc news, sydney. i'm sure you know this — it is december. december has finally arrived and for many of us our attention will turn to christmas, and of course panettone, the traditional italian festive cake, is now so popular in the uk that it's become a staple of british christmas celebrations. in fact, last year, panettone sales outpaced christmas pudding at many uk retailers, including selfridges, waitrose, and asda. francesco coratella recently represented the uk at the panettone world cup in milan. he's executive pastry chef at birley bakery in london and hejoins me live now from the kitchen. good morning to you! good morning. — good morning to you! good morning, sally. _ good morning to you! good morning, sally. how- good morning to you! good morning, sally. how are . good morning to you! good i morning, sally. how are you? i'm brilliant. how are you this morning?—

i'm brilliant. how are you this morning? i'm very good. very aood. morning? i'm very good. very good- how— morning? i'm very good. very good. how did _ morning? i'm very good. very good. how did you _ morning? i'm very good. very good. how did you get - morning? i'm very good. very good. how did you get on - morning? i'm very good. very good. how did you get on at l morning? i'm very good. very l good. how did you get on at the world cup? _ good. how did you get on at the world cup? well, _ good. how did you get on at the world cup? well, we _ good. how did you get on at the world cup? well, we did - good. how did you get on at the world cup? well, we did quite l world cup? well, we did quite well. of course, _ world cup? well, we did quite well. of course, we _ world cup? well, we did quite well. of course, we were - well. of course, we were competing with the best in the world. it was an amazing experience. i mean, you open up —— it opened up another road for me in the preparation of the panettone. i got to compare myself with all the chefs — there was a lot of sharing in terms of technique and, i must admit, i learned a lot. panettone are very delicious — i do enjoy panettone — but why has it overtaken the christmas pudding, do you think, in the uk for some households? i think --eole uk for some households? i think people have _ uk for some households? i think people have started _ uk for some households? i think people have started to _ uk for some households? i think people have started to discover. people have started to discover the real panettone, which is the real panettone, which is the hand—crafted one, the artisanal one — not the one you pay £10 for in the supermarket. they are appreciating the quality of these light, fluffy

cakes in a way — they're learning how to appreciate more this kind of tradition. and to be fair, it's becoming a trend in all the world. and having a spanish winning the world cup — i think this really breaks the boundaries of the panettone — that it's not only an italian dish, but it's going crazy all over the world.— dish, but it's going crazy all over the world. talk us through the tradition _ over the world. talk us through the tradition in _ over the world. talk us through the tradition in italy. _ over the world. talk us through the tradition in italy. when - over the world. talk us through the tradition in italy. when do i the tradition in italy. when do they eat panettone, and what do they eat panettone, and what do they eat panettone, and what do they eat it with? what do they drink with it, for example? we eat drink with it, for example? - eat panettone, of course, during christmas. there is no christmas without panettone. since when i was younger, it's something that you couldn't miss at the end of the meal. we usually eat panettone with some digestive — it can be a liqueur or what we call amaro at the end of the meal. even though you are, on the day, eating nonstop, but panettone is a must at the end of the meal. i understand that's the way it

goesin understand that's the way it goes in italy — it's eating for three days?! goes in italy - it's eating for three days?!— three days?! yes. laughs _ laughs just briefly...? laughs just briefl ...? ~ , ., ., just briefly. . . ? we start on christmas _ just briefly. . . ? we start on christmas eve, _ just briefly. . . ? we start on christmas eve, on - just briefly. . . ? we start on christmas eve, on the - just briefly. . . ? we start onj christmas eve, on the 24th night... christmas eve, on the 24th niuht. .. �* , ., christmas eve, on the 24th niaht...�* , ., night... and finish late boxing da ? night... and finish late boxing day? yes- _ night... and finish late boxing day? yes. all _ night... and finish late boxing day? yes. all right. _ night... and finish late boxing day? yes. all right. exactly. l day? yes. all right. exactly. laughs it sounds incredible. thank you forjoining us live, and thank you, too, for your company on business today. hello. meteorologically speaking, sunday was the first day of winter. now, there were a number of showers around, but it was a pretty mild day. indeed, across wales, we had temperatures of 15.4 celsius recorded at both hawarden, in flintshire, and also in cardiff — those temperatures way above the december average. and those mild weather conditions were brought to us by these southwesterly winds, which are still across a good part of the country. however, look at this band of rain sinking south across scotland. behind that, we start to see the winds turn more to a northerly direction, and it's those northerly winds that, through monday, are going to push this zone

of colder air southwards. so, it will feel much colder as we go through the day, across northern areas in particular. so, the rain starts today — southern scotland, pushes southwards across northern england, reaches north wales and the midlands through the afternoon. brighter conditions follow, but it will be gusty around irish sea and north sea coasts, gusts of around 40 or 50mph. temperatures in england and wales about 8—11 degrees celsius, so still relatively mild. through the afternoon, it turns colder for scotland and northern ireland — temperatures here around 4—6 degrees. and then, that cold air surges southwards — monday night, a much colder night than we've been used to, with a widespread frost. so, a frosty and cold start to your day on tuesday, but with plenty of sunshine for most areas. however, band of rain is going to move in off the atlantic, so it turns wet in northern ireland, and eventually, the rain reaches western scotland as well.

temperatures really struggle — 4—7 degrees — it is going to be a chilly day on tuesday for most. then tuesday night, the rain starts to turn to snow. now, that's especially the case in scotland, and especially for eastern areas. we could have some accumulations of snow, potentially bringing some localised disruption. but, ultimately, the snow will turn back to rain as milder air works its way in. and as we head through wednesday, that milder weather pushes in from the west, we'll have a lot of low cloud, some mist and fog. quite a murky looking day, perhaps turning a bit brighter as we head into the afternoon for some. but it's another day with struggling temperatures, particularly for central and eastern areas. starts to turn a bit milder in the west. and then thursday and friday, areas of low pressure on the way could bring some very strong gusts of wind, but certainly will be bringing some pretty wet weather our way.

good morning. welcome to breakfast withjon kay and sally nugent. good morning. 0ur headlines today... masterchef presenter gregg wallace faces an angry backlash after claiming that accusations of inappropriate behaviour against him came from "a handful of middle—class women of a certain age". plans to double the speed at which unsafe cladding is being removed from tower blocks as a result of the grenfell fire. a 91—year—old former

sub—postmistress, who's thought to be the oldest victim of the horizon it scandal, says she's disgusted after being offered less than a third of what she'd claimed in compensation. good morning. why are so few couples taking advantage of shared parental leave? bbc news research shows it's overly benefiting higher earners in london and the south east. i'll have all the details. in sport... the world of snooker pays to tribute to one of the greats — former world champion terry griffiths, who has died at the age of 77. good morning from the home of gloucester rugby. this is kingsholm, the start point for the second day of kevin sinfield's latest epic challenge. day one was all about scout, santas and the wrecks are welcome. what has day two got in store? we will tell you later.

and after