as the company pledges to cut back on rewnewable investments. these type of projects are more costly, less profitable. shares in maersk are shares in maersk are buoyant this morning as the company reports strong as the company reports strong full year results — how will the shipping giant be full year results — impacted by global headwinds? welcome to business today. welcome to business today. we start in the uk, where the bank of england is almost certain to cut interest rates to the lowest point in more than 18 months. most economists predict the cost of borrowing will fall by a quarter of a percent by a quarter of a percent today to 4.5%. today to 4.5%. it would be the third cut in interest rates from their recent peak from their recent peak in august 2023. in august 2023. it comes at a difficult time it comes at a difficult time as the uk economy stagnates, as the uk economy stagnates, but inflation remains stubborn and that's a headache for policy makers. for policy makers.

inflation did fall to 2.5% in the year to december

inflation did fall to 2.5% in the market december inflation did fall to 2.5% in the market rates 1ber inflation did fall to 2.5% in the market rates have been so much since november soar—ingsamuch sincencwember thatis soar—ingsamuch sincencwember that is the story of the and that is the story of the global it feels like global stability. it feels like about three weeks ago but it was only on monday we had the brouhaha over tariffs on canada mexico. and there is still and mexico. and there is still and mexico. and there is still a threat hanging �*the in a threat hanging qwerthe eli in of for a threat hanging exterrthe e'a' in of for the uk, terms of tariffs. for the uk, the president is making nice but if there are noises but if there are tariffs the eu, that will affect in the eu, that will affect their economies which will affect demand �*our their economies which will affect demand �* our exports. affect demand for our exports. that put down pressure on that will put down pressure on growth so that might be what bank might be signalling the bank might be signalling going forward and more rate cuts, but general, the task ggts. but in general, the task... the bank ”2 the moment of the bank has at the moment is unenviable. are seeing is unenviable. we are seeing lots of noise from america, lots of noise from america, lots instability in the lots of instability in the global economy be

global economy should be underpinned by stable? a. ”a-.- but we underpinned by stablcl a. ”ww but we are seeing institutions, but we are seeing at the moment quite a lot of instinct for breaking from instinct for rule breaking from one of the largest players in which can only create more that which can only create more instability. i touched on it the uk instability. i touched on it - the uk economy - instability. i touched on it - the uk economy a inflation - icture, stagnant inflation picture, inflation pretty high and growth week and would say everything critics would say everything have heard from the does not in terms of getting w eagrowing growing again” far i growing again because things growing again because she a lot of on 7 77 7which77 77 77 7 7 77 77thi7ci717y7°7u t7 777 7 77 7w7hicir7y7°7u $1757? 7 t7 business which you also wants to the economy. business which you also wants to - the economy.- business which you also wants to - the economy. fundamentally 7 fundamentally tru7e. rise in national insurance rise in thatis national insurance rise in that is coming in 77d7e7fir71itel7y7 7 77 77 7 definitely feels like77 definitely feels liketa apzriggdefinitely feels like a pressure on business. saw reports on one of the —= of production, there indexes of production, there are a lot of signals which is growth, the main objective of this government, is not playing ball. ., . ., ., this government, is not playing ball see ., . ., ., this government, is not playing ball see - that _ this government, is not playing

ball see - that - out. - and see how that plays but. grateful for �*time. will go into production. that's despite a court were granted unlawfully. for ukjobs and growth. that it was increasing oil and gas production by 10% he told our business editor simon jack that the energy transition was moving slower than anticipated . moving slower than anticipated, cost is increasing meaning

as a kind of positive sentiment towards the oil and gas business. so if prices will go down, you will see that less wells will be drilled. that's a company that says it's working towards a pragmatic approach to the energy transition. to have you here. the boss to have you here. bosses . of equinor saying the energy saying the energy of eduinor saying the energy is of equinor saying the energy transition is moving gf eguinor saying the energy is moving slower so so they are of equinor saying the energy transition is movi so they are

than anticipated, so they are than anticipated, so they are reining aback on renewables and on renewables and reining aback on renewables and investing more in oil and gas. it not the right direction is not the right direction it is not the right direction the 77 for the environment? we for the environment? we need to reframe the _ and - it is not the right direction for the ( the onment? we it is not the right direction for the ( the discussion lie it is not the right direction for the ( the discussion and reframe the discussion and remove some of the polarisation reframe the discussien and some of the —= has come up in particular that has come up in particular that has cemeupeineparticular the uk and europe, in the uk and europe, where in the uk and europe, where there this that there is this feeling that fossil fuels are bad and there—isfthis feeling that fuels there—isthis feeling that fuels are bad fossil fuels are bad and renewables are good. the renewables are good. the reality is all forms of energy reality is all forms of energy are needed in order to supply are needed in order to supply the increased demand we see are needed in orderto supply increased demand we see the increased demand we see globally. there are pros and globally. there are pros and 22:7—u cons to renewable technologies 7 to renewable technologies the 77 the way 77 in the same way there are two the way there 77 the way there are 77 the way there are two in the fame e thee ee �*a fuel in the fame e thee ee �** fossil fuel technologies. we fuel technologies. fuel technolo . ies. ~ to be investing in this need to be _ fossil fuel technologies. we need to be investing in this need to be investing in this stuff you renewable stuff now, you are renewable'stuff'npw: ypu are we need to make right we need to make that renewable'stuff'npw: ydu are we need to make that renewable'stuff'npw: ydu are w( transition “lake that renewable'stuff'npw: ydu are gradual transition w( transition away :hat renewable'stuff'npw: ypu are w( transition away from fuels but that takes fossil fuels but that takes right we need to make that gradualtransition takes fossil fuels but that takes time. so how much of a setback time. so how much of a setback is like this? i is an announcement like this? i is an announcement like this? i don't think it is a setback at u pstrea m

upstream oil and mm

time. so how much of a setback is an annou there nt like this? i time. so how much of a setback is an annou there nt l a i this? i time. so how much of a setback is an annou there nt l a few;? i absolutely. there are a few headlines that came up in the media press over the general media press over the last couple of weeks that in the first week january, we fai—tt $ if -—s a of hours away were a cbuple bf hburseauzay .. . .. u .u.. . .. e w a iii! were a cbuple bf hbursrauzay rr r er s .u.. r rr e re a in the were a cbuple bf hbursrauzay eeeere er ree e errer a in the uk. from a blackout in the uk. the grid been national grid have been spending quite a bit of money national grid have been spending q on a bit of money national grid have been spending q on social>f money national grid have been spending q on social media ey .. u —.. u 7901755116 bb if7£h7eret 7 7 7 malls bb if7t7he7retw5s7 7w7hattto bb if7£h7eretw5s7 a about what to do if there was a cut. that is really a power cut. that is really a worrying signal that we need to about 7 7 about the 7 7 7 7 7ab70ut7t7h7e feellfy 7 7 7about7the feellfy of 7 7 7abtouttt7hte7 reality of what think about the reality of what this means. we need to be tigis means. we need to be able the lights on, we need to keep the lights on, we need to keep the lights on, we need to keep the lights on, we need to keep heating our and to keep heating our homes and using the washing machines and the and the microwaves and everything else that is part of in order to do that, we life. in order to do that, we need all forms of energy, including in the uk to do amt, ood to talk to ou. that. amy, good to talk to you. am that. amy, good to talk to you. _ amy miller- that. amy, good to talk to you. _ amy miller there, l t":"e .�* 5-3 �*—"'e«4�*ee�*e ~ ... .... you. more on trade now, as shares in the shipping giant maersk havejumped this morning after it posted better than expected earnings for the end of last year.

by sea but a growing global trade war could dent the fortunes of firms, although maersk says it's intelligence firm xeneta. good to have you here. touch on that for me, saying they that for me, maerskrsaying they confident it will not are confident it will not business yet we have had are confident it will not two lsiness yet we have had are confident it will not two worlds yet we have had are confident it will not two worlds biggest 1ave had going at other. going at - other. what ttto t t tokeep t t to keepa t t to keep a close eye on you need to keep a close eye on is the effect of is the immediate effect of tariffs are be announced and into force compared to come into force compared to what was the case in war what was the case in trade war one, five, six years ago. that importing7 t importing7ships t importing7ships to with left importing ships to us with the to front—load, left importing ships to us with the in to front—load, left importing ships to us with the in cargoes :o front—load, left importing ships to us with the in cargoes :o fron�* tariffs bring in cargoes before tariffs came into force. it is

this time around. different this time around. tariffs already tariffs are already effective, so any cargo which not so any cargo which is not already on board ship will be already on board a ship will be tariff that window of a tariff to. that window of opportunity has left shippers with no choice but to prepare themselves in the same way flier-13�*s“ in the =em= are? trade war themx�*en in the =em= teat trade war one when rates during trade war one when rates went up by 70% in months. five months. therefore forewarned _ five months. therefore forewarned and - five months. therefore forewarned and for- five months. therefore forewarned and for but reliance on global asi as i said, of the shipping. as. ! said; eats eftne trade carried by world's trade carried by sea. it is pretty vulnerable if the supply is disrupted? supply chain is disrupted? working with evggyone working with global chains these are supply chains these days are geopolitical risks all facing geopolitical risks all the time. theyjust happen be about every more and significant impact significant i witht significant i with the these days, especially with the new going around new president going around a of creating a lot of uncertainty for a that relies

for a business that relies very on just for a business that relies very onjust in shipping preparing well t preparing well advancte7 and preparing well in advance with the certainty withthe certain. . - '.~ alignment. any disruption -ushes alignment. any disruption pushes up _ alignment. any disruption pushes up - as - alignment. any disruption pushes up - as well | alignment. any disruption i pushes up - as well and pushes up prices as well and the reason ships yes, the reason we.use ships is yes. are slower but they they are slower but they are cheaper than air freight is, therefore prices could still keep therefore prices could still kee ~ , therefore prices could still kee. �* , , . keep rising. absolutely. we also cover— keep rising. absolutely. we also cover air _ keep rising. absolutely. we also cover air freight - keep rising. absolutely. we also cover air freight and i keep rising. absolutely. we i also cover air freight and some the impacts coming from the of the impacts coming from the of the impacts coming from the of rules will mean a lot of commerce flying that a lot of commerce flying out of china into north america will definitely also be at large. all eyes on impacted at large. all eyes on what will happen there will ttkeeplng a t7t7kee7pinga 7 eye 7t7kee7pinga 7 eye o7n 7t7kee7ping a 7 eye oh the sea t that is also red sea because that is also that makes a huge something that makes a huge difference everyone around difference to everyone around the world working with containers of goods. the owner ofjim beam

whisky — suntory — has warned donald trump's tariffs may lead to starting to get a sense of the impact is having on impact this is having on businesses. more on the website. but that is how your business looks right now. see soon.

welcome to the bbc sport centre. in the first one day

joe root, playing in his first 0di since the 2023 world cup made 19. they very nearly had the perfect side but alexander isak goal was ruled out for offside. but it didn't take long, a rebound in the 19th minute after isak�*s s shot hit the post. the decisive blow. unbelievable. happy for

the team performance.