plus, which countries have the best and worst retirement systems, according to a new report. hello and welcome to business today. i'm steve lai. let's start in the united states where president—elect donald trump has been firming up the members of his next administration. he hasjust picked federal trade commission at andrew ferguson to leave the antitrust agency. he is one of two republican commissioners appointed by presidentjoe biden. he has made a big promise to speed up permits for anyone investing at least $1 billion in the worlds largest economy. michelle fleury has more. the national environmental policy act requires federal agencies to conduct reviews before approving energy production and infrastructure projects like pipelines and highways. donald trump's promise to speed up these environmental reviews for those who invest $1 billion comes after he promise on the campaign trail to boost

america's domestic energy industry and bring down costs. he didn't provide any details on how his administration would help investors secure these approvals but many companies and corporate lobby groups have complained about the length of time that these reviews can take, say, they create lengthy and expensive delays. environmental activists were dismayed, the sierra club said in a statement, corporate polluters cannot bribe their way to endangering our communities and our clean airand water, adding, we will keep fighting to defend our bedrock environmental protections and ensure they apply to everyone, notjust those who cannot afford trump's bribe. this is perhaps one of the earliest efforts were seen so far from the trump administration both on the environment front and on the deregulation efforts. officials and business leaders have been weighing in on mr

trump's plan to impose tariffs on china and other economies. an event on tuesday, us treasury secretary want that sweeping towers will lead to higher inflation but the boss of the banking giant says the impact of tariffs will depend on how they are implemented. and that the administration could be good for business. the administration, which i think appears to be an administration that will run a more growthy playbook, that is one that's quite good for our business and a business activity know whether or not it plays out the way, the market is saying is going to play out that way. in aviation use boeing says it delivered 13 commercialjets in november, less than a quarter what it handed out to customers every year earlier. the plane has been hit by a safety crisis and a strike that shut down most of its facilities. it has a seven week long strike including 80,000 workers in the united states. turning to the

energy mothers. energy prices raised slightly over demand in china which is the well�*s largest buyer of the commodity. data showed a jump in chinese crude oil imports in november, the first bike and seven months. 0pec plus has also moved away from plans to increase the supply, boosting prices. dan struyven is seeing a pickup. we have actually seeing a pickup in china oil demand and broader chinese activity data from there and we expect china oil demand to grow into next year at a modest space and at a faster pace in this year. that said, the structural demands are growth base in china is significantly slower than what used to be a few years ago because of the energy transition especially on the road. what do you make of political concerns that tensions in syria and more broadly in the middle east

as well conflicts that they likely to shape up or shake a brother oil supply chain and investment in energy security? so far, elevated uncertainty in the middle east and russia has not had a significant effect on the global level of oil production and their four oil prices. it is infinite on supply chains on who buys the oilfrom home with significantly directions. of uranium oil to china, russian oil to india and china and in our best case, despite the uncertainty, we don't expect a significant product description but we see the risk of oil prices in the short term as to the upside because you run oil supply may foil. —— may fall early next year. what about 0pec+ 7 what do you think they are likely to do in response to this? we expect 0pec+ to stay in discipline and keep production at low levels to continue to stabilise inventory and stabilise prices. 0pec+ has not been effective in limiting price fluctuation and limiting fluctuations in fundamentals such as inventory. if we want to see a large destruction, for instance,

from iran, i would expect that 0pec producers such as saudi arabia to have a lot of spare capacity, production of trident to come back into the market and stabilise prices. to india where amazon has announced plans to enter the market with 15 minute grocery deliveries. they are coming into what is already a very crowded market, tell us more? absolutely. it's a hugely, hugely competitive space with some six odd companies already jostling for space with the like of lead and in fact last month, we saw that the rpo was propped up by that quick business and you have the likes of steptoe wanting to go public so, there is a huge amount of potential in india's quick space which is really gone on from being some hundred

dollars sales industry to $6 billion and arm on clearly seems to be wanting a piece of the spy. —— zepoeto. —— of the growing pie. what we have learned is that they want to start with a trial in the city of bengaluru and if that successful, they will roll it out in the rest of the country as well. what's interesting is that this is a first country, india globally that they are launching this sort of a pilot so it would be key to watch if they really take this from here to other parts of the world as well. while competition is always good for the consumer. thank you very much. adidas says its headquarters in germany has been raided by authorities as part of a tax investigation. the probe is related to compliance with customs regulations surrounding imports for the period of of october 2019 to this august.

the giant says it is cooperating with the authorities and provide them with necessary documents and information. general motors has announced that it will stop funding the development of the cruise south thriving taxi, the front pointed to the increasing competitive market as a reason for the move. —— self—driving. its competitors include tesla which unveiled its long—awaited robo taxi in october and google�*s parent company alphabet. the boss of ferrari says it will continue making luxury sports cars in its home town in northern italy. he said the company will not manufacture cars in the united states. he said he does not see a change in demand for ferrari cars despite the threat of tariffs from us president—elect donald trump. this year, the united nations observed that one in four people are living in countries where populations have already peaked and this rise in ageing society is raising fresh questions on retirement adequacy and with the current pension services arc coming up.

a new report looked across a0 countries and wreck the netherlands, iceland and mark is one with some of the best retirement systems in the world. —— ranked. in the bottom three, india, argentina and the philippines are lagging behind. david knox, the report's lead author told me what makes a good retirement system. firstly, in those countries, there is a public pension government for the poor, they're looking after the poor aged and, secondly, the coverage rate of the work population is five — 90% so most people aged between 15 and 64 have got private retirement savings account. and thirdly, the amount of money going in as around about 12 — 15% of a person's wage. so they are not relying on the national oration to pay their pensions, they are putting money aside now for the future, singapore is a good example with the central provident fund but we need

to be putting money aside for the future for the ageing population. we cannot rely on the next narration as we used to. if we look at the countries that are not doing quite so well, you've got india, argentina and the philippines ranked lowest in the study, what are their pension systems like and where do they really need to improve? they need to improve on coverage as i mentioned, you take india for example, the informal labour market is difficult for private pension systems but i think there are opportunities to use technologies there, many of the systems also need to improve their governance, the regulations so the community has confidence in the private pension systems and trust the system and are willing to therefore put the money, that money is to be invested for the future and notjust used in the next five — ten years and that brings me to a final point that when you invest money in pensions, the money must be preserved for the person's retirement is not something that should be accessed in the intervening years.

we are seeing quite a few ageing societies here in asia like south korea, japan, —— david knox there. we have some bad news for coffee drinkers out there. your morning broke and becoming more expensive. it has its highest level on record. arabica beans, which account for most of global production, top $3.44 lbs. coffee cups are expected to shrink as two of the largest residences, braziland to shrink as two of the largest residences, brazil and vietnam, have been hit by bad weather. that is it for this edition of business today. thanks for watching. —— that is it for this edition of business today.

i'm betty with the catch—up. tonight: coffee prices going up, a new record is set and some wicked nails. first, you might have seen the hunt for a killer in the us on your socials after a health insurance ceo was shot dead in new york last week. brian thompson was shot in the back outside the hilton hotel in manhattan. and a search for the gunmen, a 26—year—old man called luigi mangione was taken into custody on monday after a customer in a mcdonald's in pennsylvania recognised him after images shared

on social media. he is facing five charges, including murder. some other stories now. budget day for wales, the nhs there is being offered hundreds of millions of pounds more next year. the welsh government says bringing down waiting lists is a top priority but opposition parties were not so impressed, calling the plans underwhelming. next, it is looking like your morning coffee is about to get more expensive because of bad weather. the world's two largest producers, brazil and vietnam had droughts and heavy rain this year which means they might struggle to keep up with demand. and how quickly do you reckon you could climb up a 15 metre wall? 17—year—old eva hamilton has become the fastest women speed climber in the uk, completing the climb in 8.46 seconds. look at her goal. time now for ten seconds of some wicked nails. shea worked alongside

cynthia erivo to create now designs for her character, elphaba, she also did cynthia's nails for the london premiere and said she cried when she saw the photos. you are caught up now. have a good night. hello and welcome to sportsday. i'm jane dougall. liverpool on the brink of the last 16. a mo salah penalty gives them a sixth win in the champions league. victory for villa too — they score three to go third in the table, beating rb leipzig in germany. fifa is criticised for their "flawed process" to choose the host of the 2034 world cup. sole bidder saudi arabia is expected to be awarded the tournament. hello there.

we start with the champions league and six wins from six means liverpool stay top of the table after beating girona in spain. mo salah scored the only goal of the match after the visitors were awarded a penalty. liverpool are all but through to the last 16 and face lille away and psv eindhoven at home injanuary. 0ur senior football reporter ian dennis and former liverpool midfielder stephen warnock were watching. the knockout stages beckoned for liverpool and, realistically, when you look at it is hard to see them not being in the top two, which means they would be seated in the knockout stages of this revised format and in process tonight, stephen, they have the abang club record of five successive clean sheets. as nearly nine hours of football since they conceded their only goal in this campaign.