a big u—turn at bp — the struggling oil giant is expected to refocus its efforts on oil and gas — after years of ramping up renewables investment. the uk is on the race to reach its carbon emission target set for 2040. new technologies that could put an end to potholes. the best news of the day! laughter over to sally. thank you. yes, losing potholes is good, isn't it? but we is ch isn't it? but we will. to later. is ch isn't it? but isle will. to later. let's look get to that later. let's look at the top business stories.

agreed the terms of a major minerals deal with the us. the precise terms of the deal are unclear but it's reported that washington has dropped and a demand from ukraine for firm security guarantees has not been granted. but it may unlock the us funding to allow ukraine to continue defending its territory against look, it could be a trillion—dollar deal, and, look, we're spending hundreds of billions of dollars a war that should have never, ever happened. equipment and the right to fight on. and...

originally the right to fight. look. ukraine, i will say they're very brave and they're good soldiers. short period of time. so is this win—win? to the united states. well, the minerals that are in the soil of ukraine we know today. so, for instance, for electrification and electric and defence.

most notably china, which has dominated on the other hand, we don't know what rights the us will get. so what we do know is there will be a fund, the fund will basically receive 50% of all future revenues exactly what rights the us will have in that fund, the situation in

the space of a week when you look at the rhetoric going on between president trump and president zelensky one week ago? these critical minerals, as you say, in their soil guarantees going forward, funding coming from the us, in return, it will want some guarantees. is not part of this deal. to strengthen its economic ties

with ukraine, and therefore increasing its interest in the country in the hope of deterring anyone who wants to attack ukraine in the future because of this vested interest in this country. now, the big question is what the russians will accept — materials, is occupied by the russians. jeff amrish ritoe, an raw materials. i'm critical raw materials. i'm many of you know sure many of you know heathrow airport. have probably airport. you have probably been there, you might have been stuck there, got on a plane there. it is �*s biggest there. it is written �*s biggest airport and today reported a jump in annual profit of £917 million or $1.16 billion. it follows a rise in passenger

numbers to record levels trade and economic growth. last year 84 million people travelled through heathrow, i asked murdo morrison from the aviation news site they�* re pretty impressive. heathrow�*s recovery from covid has been pretty good and, as you said, it has regained its status as europe's busiest airport. apart from a little bit of tweaking around the edges, any more, theyjust simply haven't got the ability so they really sareznow going to

and they do want to, they have made it clear — the problem is it could take a very long time. the process is unclear, as well. of expansion at heathrow. yes, i mean, even with enthusiastic government least ten years — if not more. then, before that, all the political and planning

now so therefore it will lose out to its rival gatwick, but also the other key airports around the world — people maybe will choose to go via another hub. and so on for some long—haul traffic. the problem is that... you know, it is at capacity. airlines want to use heathrow. 0k. thatis that is the latest on heathrow. let's now at bp.

a major reset of its strategy this morning. there will be a big cut in renewables investment, strategy that was laid out five years ago. fuels as the company's fortunes struggle. over the past five years bp shareholders have enjoyed dividends totalling 33% — which sounds pretty good. but check out its rival shell — it has returned dividends of 77% over the same period. earlier i spoke to paul hicking, editor new strategy. bp once had the mantra "beyond petroleum". now it looks like

it looks like they will abandon back to petroleum. targets they had a few years ago — 40% cut in oil and gas ago — 40% cut in oil and gas was first put out by was first put out by 2030, a few years ago. then that got scaled back to 25%, now it is looking like that target will be abandoned completely and oil and gas will be back front and centre of its strategy. we have also seen that renewables will be scaled back. it is clearly a fact that they have been putting ideology above and beyond ideology above and beyond the economic reality and profits. the economic reality and profits. and, like you said, and, like you said, they have lost leeway they have lost leeway to many of its competitors, and that is reflected in its share price. and this is a really critical and this is a really critical moment for bp, isn't it? it has been through such moment for bp, isn't it? a tumultuous time with changes of leadership — unexpected changes of leadership — but also, leadership — but also, of course, the landscape has of course, the landscape has changed. changed. you have president trump

with his "drill, baby, to reinvest back into oil and gas a lot more.

and there has already been that going on. i was in india energy week i was in india energy week a couple of weeks ago and they made a deal with ongc a couple of weeks ago — the indian oil company out there — they have been big in the caspian, and deepwater, as well. and deepwater, as well. so they are already starting so they are already starting to do that and it is more to do that and it is more about accelerating that about accelerating that timeline and being a little bit more unapologetic about making money for its shareholders, which exxonmobil, shell timeline and being a little bit and others have been very much clear about oil and gas still being very front and centre. all the action in new york. front and centre. and, yes, the us doesn't and, yes, the us doesn't have the same political mood have the same political mood as, say, in europe but, as, say, in europe but, at the same time, like you said, that at the same time, shift even in europe. with his take on paul hicking with his take on bp. bp. now let's talk about tesla. now let's talk about tesla. the market value of electric car maker sunk below one trillion dollars one trillion dollars for the first time since and the uk have dropped. michelle fleury was watching

for the first time since

with the reality that elon musk�*s electric car juggernaut could face a weaker—than—expected first quarter. michelle her take on the latest news from tesla. back to to reach nez zero by 2050? to reach net zero by 2050? the committee responsible for monitoring climate change progress has said that by the year 2040, the uk must 50 years earlier. the good news is, we are already more than halfway there.

than half on 1990 levels. into what would need to be done to reach the new target. cutting carbon has been pretty painless so far. it's meant switching away from polluting fossil fuels to more renewable power. but that is going to change. emissions reductions will increasingly depend the committee says that by 2040, four fifths — 80% — of our cars are going to need to be a heat pump. the message is very clear — the uk needs to do whatever

this is my hot water tank. as well as her heat pump, lucy has this. power all day long. with the battery, it's currently costing me £100 the home with gas. so the heat pump isn't saving you money, lucy? it might be a small amount, but not really, no. without an expensive battery, the savings are tiny. and remember — heat pumps are also more expensive key recommendation. we say you have to make electricity cheap, but it is also the fuel of the future. what we are laying out today is a massive it's an energy transition.

it saves people money on their energy bills. on their driving costs. but all of that is underpinned by a cheaper electricity price. and the committee has other recommendations. just ten years' time. by 20110, it says, and suggests some pastureland could become decarbonised — so your foreign holidays could get more expensive.

everybody agrees — the greens agree, the snp agree, plaid agree, everybody the climate change committee's response to that? it says investing in net zero is notjust about climate, and it says the savings should start to kick in from around 2040. let's ta ke let's take you to the pictures we have been looking at the we have been looking at for the last hour of people lining the we have been looking at for the last i101 in )f people lining the we have been looking at for the last i101 in teleople lining the we have been looking at for the last i101 in teleopl in ning the

we have been looking at for the last i101 in teleopl in israel, 3 streets in tel aviv in israel, to the final resting place of bibas 7 bibas and 77 bibas and 7 two sons, shiri bibas and her two sons, kfir and ariel, whose bodies were returned by hamas to their families last you may that initiall the remember that initially the wrong body was given hamas, wrong body was given by hamas, up wrong body was given by hamas, up with that of a woman mixed up with that of a woman gaza but by the end of the correct body ' 7 " fir; elir’réét’b'éd’y sf” ' 7 " ii; eér’réét’b'éd’y ofshirii week, the correct body of shiri bibas, the woman who was bibas, thewomen there; what: was with her bibas, thaws-nan there; wha was with her two sons was abducted with'hartwtrsans was to her abducted with'hertwcrsdns was to her family and abducted with'hertwcrsdns was to herfamily and the are taking 5 are taking place. funerals are taking place. those funerals will be at the kibbutz nir oz, where were kibbutz nir oz, where they were fibducted on the 7th of abducted from on the 7th of october 2023 and have seen and 7 aaa mac 7 7 7 aaa mag; l>f7 and hundreds of people hu ndfedsfaad hundreds af aeaate the hu ndfedseaad hundreds af aeaate the street hu ndredsrand hundreds af aeaate the street on the long lining theistreet an the tang from aviv lining theistreet ah the tang from aviv to the 777of s.... 7 77ofisrael.7 7 7 7 77ofisrael.7|t 7 7 7 77ofisrael.7|tis7 7 7 77of israel.7lt is7a 7 seuth ef !srael. !t is a funeral but people have private funeral but people have been that if they want to been told that if they want to pay their respects to this 7 which 7' 7 7 high; 7 7 wh7i7c7h77ha7s7bee7n7 7 7 whililhsiséénéo family, which has been so emotionalfor the whole

emetienel fer the whele ef seeing �* plight, israel. seeing their alight. youngest jsrael. seeing their alight. youngest hostage the youngest hostage in captivity those three, captivity among those three, and the that they did not and the fact that they did not return alive has israel go extreme emotions and through extreme emotions and the whole country, grieving. the whole country, many newspapers are just showing an many newspapers arejust showing an orange many newspapers are just showing an orange front many newspapers arejust showing an orange front page 7 77 the 7 7 the orange 7 the orange and 7 7 77 the orange and the 7 today. the orange and the balloons you see orange balloons you may see among those israeli are among those israeli flags are, , the colour of the to symbolise the colour of the boys' hair, haired boys boys' hair, ginger haired boys who have been so many photos who have been in so many photos and so emblematic of the and been so emblematic of the plight of hostages by plight of hostages taken by on the 7th of october. hamas an the 2th af qctaber. procession hamas en the 2th ef qe�*ebe procession going that procession going through villages where there are a few villages, where there are a few with as well as people with flags, as well as cities where we seen cities where we have seen hundreds and hundreds of people turning out carrying flags and hundreds and hundreds of people turning out carry and ilags and hundreds and hundreds of people turning out carry and that and orange balloons and that funeral will take place just in the next hour at the kibbutz nir oz where the