ukraine strikes a deal with the us over its natural resources — but there are questions over what it gets in return. it's a very big deal. look, it could be a trillion—dollar deal, it could be whatever. but it's rare earths — and other things! britain's heathrow airport reported a jump in profits as passenger numbers hit a new record. we will hear from the chief executive. bp goes back to the black stuff as the struggling oil giant returns to oil and gas after years of investing in renewables.

welcome to business today, i'm ben thompson. we start with ukraine — as you've been hearing it's a war that should have never, ever happened.

$350 billion and lots of equipment and military equipment and the right to fight on. and... originally the right to fight. ukraine, i will say they're very brave and they're good soldiers. equipment, this war would have been over in a very how important does he think ukraine's minerals are to are critical for basically any industrial application we know today. i mean, we see that the us really wants to get access dependency from a handful of

state actors these days, most dominating the critical raw material supply chain. the us will get. but we don't know exactly what rights the us will do to prevent, for instance, china to become part of that industry. it will want some guarantees. is not part of this deal.

in the country, in the hope of deterring anyone who wants interest in this country. now, the big question is what the russians will accept there will be a big cut in renewables investment, and gas endeavours. it follows recent announcements from shell and equinor who are following the same path. strategy that was laid out five years ago. so this is a big shift back

to the more profitable fossil dividends of 77% over the same period. paul hicking is editor of the petroleum economist. for a while now. bp once had the mantra beyond petroleum. they had back a few years ago. 40% cut in oil and gas was first put out by 2030. a few years ago, then that got scaled back to 25%. now it's looking like that target will be abandoned

and centre of its strategy. we've also seen renewables will be scaled back. above and beyond the economic reality and competitors. and that's reflected in its share price. when the new bp ceo took over aboutjust over a year ago, they already started to make these changes. i think the mood music had already changed. they hived off their wind business. they'd already been addressing some of the costs within the company, and they'd already been making those changes. they're going to really go much harder of its income, its business around solar and biofuels, as well. and really look to reinvest

britain's heathrow airport says profits jumped to £917 million an expansion project as it seeks boost the uk's economic growth. to help make the case for a new runway? executive of heathrow. good to have you here. those numbers really do enforce the idea that you need numbers really do enforce the space idea that you need more space at the airport, don't you? indeed we do. i think people want to travel, want have of travellin and the benefit of travelling and we expect that continue. we we expect that to continue. we are already reaching our -7 limits. we see that capacity limits. we see that this year and it that our this year and it means that aur gets more and more operation gets more and more we need the and ourairlines want

”ww—17mm grow. airlines want to grow, the question _ grow. airlines want to grow, the question is _ grow. airlines want to grow, the question is whether - grow. airlines want to grow, the question is whether it i the question is whether it needs to at heathrow? is not question we should be a question that we should be expanding other regional airports? it is a good aireer’ts? it s a sees but the airesr’ts? it s s gsss but the proposition question, but the proposition that heathrow gifts to boost the country is from �* airports. �*airports. we represent of of ”wof ” "ash " w ”wof ” "gf'siuik w of of all uk exports come through and those come through heathrow. nothing like that heathrowenafltmg like that through or come comes through or will come other airports. trading through other airports. trading will be constrained if we do not expand heathrow. heathrow has a different passenger mix. that is not the case for other airports. we are really serving different 77 different and 77 ta different markets aha!" "s .a.. s " ' there is a space for think there is a space for i have been doing expansion. i have been doing thisjob long enough expansion. i have been doing this job long enough to expansion. i have been doing thisjob long enough to know ”which lehgreheagh ta hhaia' we have talked heathrow times. has been suggested, it has been suggested. ,, , and nothing

recommended and nothing how confident are you even with 7 even with the j even with the chancellor's that even with the chancellor's vote of confidence, that it happen? will happen? i am quite confident _ will happen? i am quite confident we _ will happen? i am quite confident we - make | will happen? i am quite - confident we - make this confident we can make this i think we are a happen. i think we are in a unique dot might have a unique right now with the opportunity right now with the government behind us to make this actually happened this time. i also think we time. i also think that we can now cd need this time. we now all cd need this time. we are now the airport are now seeing the airport seriously constrained and we are behind the ezestready behind the it is azeatreettt behind the it is clear how much schedule. it is clear how much this means to economic growth and we need to get this done. we can get this done if the parties, airlines and everyone around the 7 around the table to find gets around the table to find solutions. gets around the table to find _ solutions.- can it take? even if 7 now, now, forecasters suggest start now, forecasters suggest that it could be up to ten years. why does it take so long build infrastructure? when to build infrastructure? when will passengers start to a

will passengers start to see a difference?— will passengers start to see a difference? ., ., a, , difference? one of the reasons is the planning _ difference? one of the reasons is the planning - and - difference? one of the reasons is the planning - and we | is the planning process and we are to the are talking to the government about shortening the planning process. building a project of this size also takes years because of the to lssssass sfths e=tmi==ifin= ts " " " " made ssssass sfths e=tmi==isn= ts " " " " made and issssisss sfths e=tmi==isn= tis " " " " made and the actual building be made and the actual building will take 5— — six years. work willtake 5, s six years. is ambitious but doable. its, of objections to lot of objections to overcome, not local residents not least from local residents and about the disruption it cause to the area, but the environmental also the environmental front. it strikes me” a also the environmental front. it strikes me'ii'i a lot also the environmental front. it strikes me” a lot of the it -"';- -s the? ,:; gas seesa— — , , we !" stasis; —s m-:": !-�*- 4th; . . . we were discussion we were previously about environmental 77 has 7 has sort 77 has sort of w hasisort ofifalle’nim w hasisort organs; targets has sort of fallen by the wayside. it is all fand ffénhwhe’lim'” in? rhe’llwith’” w in? "hernias; growth and to hell with the how do envirenrhentaltaraets. “oxide , ,, , make sure that what you are you mahe'sure thatwhat you are ca n you mahe'sore thatwhat you are can be you mahe'sure thatwhat you are can be greener? we you make's'm�*e thah�*rhat yuuare - can be greener?— doing can be greener? we are already - more - air|

already having more green air at heathrow. heathrow travel at heathrow. heathrow emits less than we ever before. we are trending in have before. we are trending in the right heathrow the rightsfirsstis’n; fissthfsof'" the rightsfirsstis’n; fissthfsof'" the airport the rightefireetie’n;fiesthfeof'" the airport with the highest is the airport with the highest uptake already today. we know there i not _ uptake already today. we know there i not enough _ uptake already today. we know there i not enough to - uptake already today. we know there i not enough to go - there is not enough to go round, don't we?- there is not enough to go round, don't we? there is not enou:h round, don't we? there is not enough yet — round, don't we? there is not enough yet. after - round, don't we? there is not enough yet. after ten - round, don't we? there is not| enough yet. after ten years will see a left we will see sonter-ta�* �*eft |n we will see sonter-ta�* �*eft in that period of time 7 lots that we can do to there is lots that we can do to reduce both carbon on the reduce bath carbeh an the .,....,,.,.,...,...u..,., and in reduce bath carbeh an the " ' ' ” " and in the air. we need —mm to deliver for both genders. we need growth, it cannot = -= that country short be that this country short changes itself. other countries expanded their runways, have expanded their runways, like amsterdam which has six. have two. we had the two and: . . andhardest . . 14521 haf3ég’i'ui'i'ii'séa" best and hardest utilised runways in and i think runways ianurope and?! think is time runways ianurope and! think is time that we change that. it is time that we change that. and at the same work on and atthe sametime', work on plan iand atthe sametime; work on plan to iand atthe sometime. work on plan to make and atthe sometime, work on plan to make aviation iand atthe sometime, work on

plan to make aviation net the planets make auiatien net that is the planets make auiatian net that is not only a seree that is net enlya' " * agenda about national heathrow agenda about national and , ., ., ., and global. sea—seéeeeisseee t' t t" about m debate about the costs of landing at about landing at heathrow. talk about the incentives you can put in place. are you able to make things bit greener? it things a bit greener? it is one ofthe things a bit greener? it is one of the ways. _ things a bit greener? it is one of the ways, we _ things a bit greener? it is one of the ways, we want - things a bit greener? it is one of the ways, we want to - of the ways, we want to encourage airlines and enesursee'eirtihes and to enesuraee'eirtihes and to become greener. we ourselves to become greener. we are introducing lots of things to make that happen. economic be in the incentives should be in the same direction. its, incentives should be in the same direction.— same direction. a final thought. _ same direction. a final thought, there - same direction. a final thought, there is - same direction. a final thought, there is a - same direction. a final- thought, there is a perverse argument that the �* we argument that the easier we it for people to leave the make it for people to leave the country is that they will spend abroad and not in the uk. think we should thi an ve should understand thi an airportild understand thi an airport is understand thi an airport is much stand thi an airport is much more that an airport is much more than tourism. is about than tourism. it is about trade, it is absolutely necessary as an artery in the —’ j strategy of j industrial strategy of government and lots of people are travelling to london and

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i'm pippa horn. in their must win tie, with an early three—wicket burst reached his century, and they're currently 183 for 4. england need victory in lahore to avoid elimination from the tournament. the race for european football took another turn on tuesday.

chelsea moved up to fourth in the premier league thanks to a 4—0 victory over southampton. enzo maresca's side went into the game off the back chelsea now move to a point off third in the premier league in some games we have been unlucky. probably we could finish the game with a clean sheet, now we have 11 games. the most important thing is to think about the next one. will this kick start you on tonight? the return to winning ways? it's happy. the players they were happy. and also we know that every game is difficult.