they're also driving up oil company, profit activists are demanding. they pay their fair share and to do more for the environment and pandemic cut backs play jeremy's biggest airline as it seeks to fill thousands of job. they can i'm chris cobra. welcome to the program. britain's economy narrowly avoided recession after flat lining in the last 3 months of 2022. that comes after a gross domestic product had dropped by 0.2 percent in the 3rd quarter. the definition of a recession is 2 successive quarters of negative growth. overall, the u. k. economy grew by 4 point one percent last year, despite soaring, inflation, finance minister, jeremy, on to welcome the news that recession was avoided. but warned that sky high consumer prices have sparked a cost of living crisis and widespread industrial action for more let's bring in josie anderson, managing economists,

that the center for economics and a business research, a consultancy firm based in london. welcome to w josie. so the u. k economy showing some resilience there. what are the main factors for that? so yes, we mat narrowly managed to avoid recession at the end of last year, which highlighted with quite resilient economy, with rocky focus and growth over last year, and not mostly at relatively strong services. despite this cost of living crisis, people still go out has been last year, which could be party to using some handling savings. i'm still not saying right, it's fairly weak. we should be saying i grace is not and say the economy isn't in an amazing position. we offer costing to consecutive who is of contraction this year and say good news is

a good signal that we have an end to the recession yet, but we're not completely out of the way. right? i mean, the question is josie, where do we go from here? i mean, you mentioned that, i mean there was, the economy shrank by half percent in december. we have this gigantic cost of living crisis. we have a spiking inflation shortage of workers, high energy prices on industrial action across the country. exactly. say that contraction in december with a lot to do with the stripe that we saw invitation. that service is set to a contract it in december with trauma strikes, meaning that many people can travel to spend money. and of course, it will say health and social pat was affected by strikes as well, and we saw out decline. and we'll say we certainly going to see more strike fish in which will continue to have a negative impact fee. and of course,

the strikes related to the cost of living prices. people are upset, angry because that wages aren't rising by anywhere near as far as prices are rising inflation. # say that means that people are struggling to afford as much as they normally can, which is having an impact on demand and meaning that g p. s no, but then it will stay cool in the strike, which in time we can write and say that this is having a negative impact on the economy. while the giving you today is that it hasn't been a big contraction. we are expecting to see the negative grades this year. it shows the anderson of the center for economics and a business research in london. josie, thank you. not some of the other global business stories making news. china has also been hit by inflation with official statistics, shown consumer prices rising to point one percent in january compared to

a year ago. that is the fastest pace in 3 months thanks to hire a few food and fuel prices. the chinese consumer price index is seen as a good indicator of inflation. yahoo says it will flash 20 percent of its workforce by the end of the year. 1700 employees are affected. the job cuts come as some of the largest u. s. tech companies are cutting jobs, including amazon, alphabet meta and microsoft. they are shedding costs as consumers, pullback spending it's been quite a week for big oil, the world's 5 biggest oil companies, exxon mobil shell, total b, p. and chevron together managed to make profits of around $200000000000.00 in 2022 . but while they might be celebrating their record, earnings have drawn loud criticism and calls for windfall, taxes and damage. compensation stopped drilling, start paying. that was the message from environmental group greenpeace. this week,

when it's activist supported a ship contracted to anglo dutch oil giant shell in the atlantic, the vessel is transporting an oil and gas platform to a north sea field close to the scottish coast. i mention that now we said they couldn't really taking me that the financial results from the biggest energy companies in the world show that 2022 was their most profitable year ever shelves. profit jumped by 135 percent to $40000000000.00 us dollars last year. but chevron b. p. exxon mobil and total energies also profited from the sudden spike in oil prices, which languished for most of the pandemic before jumping to over $120.00 a barrel after russia's invasion of ukraine. it was quite

a departure from the 1st 2 years of the pandemic when energy demand crater due to lock downs and travel restrictions that had forced the oil majors to increase their commitment to go green towards clean carbon free energy. but now, as their profits jump up, once again, many of them appear to be scaling back their previous commitments. right for exhaust look at big old profits and what to make them. i'm now joined by louise osborne of detail, the environment. thanks for stopping barley's. wire companies scaling back their pledges here. well, let me plan, it's about money and they have made record profits and they want to continue, continue to do so and they can see that with oil and gas, they can still keep making money from that. so why, you know, move towards green energy if they can still get profit from, from staying with that, especially during the, the energy crisis. so that is one of the, the biggest issues just at the money that they are making simpler. they are companies, after all, we got admits of what does this all mean for let me thing

a global temperature as well. it's not a good thing for sure. i mean, these are companies that are also major carbon emitters. so really they need to be cutting down. and b, p for example, had promised to cut down by 2034, 35 to 40 percent of their carbon emissions. and actually now it's looking to be, or if they've said it's going to be closer to 20 to 30 percent. that is a big issue and it's not going to help the planet reach or avoid reaching 1.5 degrees centigrade fine to say that we need to pull back from fossil fuels, not be investing in them. all right, just a figure here, shell invested less than one percent of their global earnings last year, which were more than $300000000000.00 euros in renewable energy. are we expecting more pressure from environmental groups on these companies to invest more in renewables? while there are organizations like client asked, for example, that are suing shell directly. there, that directors actually personally,

to try to say that, you know, this lack of investment in green energy is actually bad for business. because we are looking at a inevitable, you know, move towards renewables at some point, or we should be already doing that. anyway. there are also other organizations that are holding these companies to account for the lack of investment and renewable energy. but really it's governments that need to be pushing them as well. if it's through winful taxes or, or any other kind of measures bigger, living very much in the present. not so much in the future. is the teams lose osborne of the dollar environment. thank you very much. germany's biggest airline. lufthansa is overwhelmed with bookings after 2 and a half years of the pandemic to ensure that hundreds of flights are not canceled as there were last summer. the airline is boosting its payroll. $20000.00 new hires in all areas of operation. the father, the a gentleman hanging on the heading plan,

$5000.00 lufthansa, a $380.00 takes off from frankfurt airport. pilot marcus. ellen fell to set the controls the controls of the simulator. anyway, pilot trainer richard lentz is putting his colleague through the paces steering problem spat whether fire in the hole. he's re training because during the pandemic, ellen felt was on short time work. his license to fly, the world's largest passenger aircraft expired due to a lack of flying hours. he only found out a few weeks ago that he's allowed to fly again. he's up reminded him about before, but i was really happy about it. this is the plane that i've been flying since 2014 and i really missed flying during the 2 and a half years has been sitting at home during the pandemic exhibitor. lufthansa had already written, asked to jane the 3 eighties. the planes were mothballs in spain. but because booking straws much quicker than expected, richard lens and his colleagues are bringing for

a 3 eighty's back from the aircraft graveyard. but for the plains to fly to new york, boston allah's angel as any time soon. lense has a problem to solve the am, that's a clip wilmington we actually only have 12 captains license to fly. the 380 right now. we need about 10 crews per aircraft towel depending on the route. that means 10 captains and co pilots, but sometimes more call pilots for the long routes in order for the luggage. so all in all there's a shortage of about $100.00 pilots and it's a similar story in the back of the plane. these young people have come to lufthansa base in frankfort because they want to become flight attendants. they're all very excited over the photos shown by an experienced cabin crew member try to anxious. gosh, i've always wanted to be a flight attendant. it's always been a plan at the back of my mind. i've always wanted to go out into the big, wide world as a that of a well, the man, man, he wanted people

a large load about new cultures. i'm eager for all these new experiences to my to summer. before that there was psychological tests, 13 weeks of hazard and safety training, and a lot of studying. fewer than half of all applicants actually make it under the plane and of cabin benedict schneider needs 2000 new flight attendants and is hoping to learn them with a host of new career opportunities. when you have so many options, you can move to the ground crew or you can move to the cockpit. would our carpet or to the technology side. lufthansa has to put together new maintenance teams for the giant air buses that have just been landed back in frankfort. and finally, the government of scotland has proposed a ban on advertising for alcoholic drinks. but that's brought it into conflict with some of the biggest industries. it's not just distilleries and breweries who are up in arms. it's called lens visitor. association says it puts whiskey tourism at

stake. that's worth about a 100000000 years annually, much of which goes to a remote communities. the series wouldn't even be able to sell t shirts and sponsorships would also. the government now says the rethink some parts early proposed. and here's a top story at this hour for you. britain's economy narrowly avoided recession after flat lining in the last 3 months of last year. overall, the u. k. economy grew by 4 point one percent despite soaring inflation and social thanks for watching have a good weekend. ah ah with

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