bp's shares are down sharply, about 7% over the last year. it is significant because it comes in sharp contrast to what is happening elsewhere. i was in the sector or seeing share prices rise sharply. bp is still struggling with debt associated with the deepwater horizon oil spill, back in 2010, but the problem is still struggling to shake off. that is the latest. if we get any more details, we will bring you them. the uk economy returned to growth for the first time in three months, but the expansion was less than expected. the latest growth figures show a stagnant economy, growing atjust0.1% in the month of november. chancellor rachel reeves has reiterated her pledge to go "further and faster" to improve economic growth and boost living standards, declaring it was the government's "number one priority". let's discuss this more now with max shepherd, group economist at yorkshire building society, talk to me about the number, it isjust one number talk to me about the number, it is just one number but it doesn't paint a picture of an economy,

bp says falling refinery margins will eat into the urth quarter profits.cts trading to be weak compared to the previous three months. elsewhere, the austrian chemical company reported a mix energy prices in the fourth quarter hit by a 7.4% dip in the realized crude oil price. . >>> and a different space lindt posted a 7% jump in sales as report cocoa prices weighed on consumer sentiment. it now expecting organic growth of 7% to 9% this year and improved operating profit margin. >>> with that in mind, luxury space. brunello rose 12.4% for the year at the current exchange rates. that was boosted by double digit sales in americas. the brand expects the revenue to increase 10% in 2025 and 2026. shares at the moment are up almost 29%. charlotte has been looking at the numbers. charlotte, so far, so good. investors are enjoying the latest update. >> it is interesting to see the results at brunello. catering to the high-end of consumers. they are doing well. you remember back in december, they upgraded the revenue guidance for the year and beat that guidance with

if you look at bp's track record, we were spending 23% of our investment in 2023. >> reporter: bp acquiredthan $4 billion in 2022 and now owns dozens of sites like these. and they're not alone. across the country there are more than 80 similar projects operational right now, with another 450 landfills flagged as potential sites. >> we have a lot of landfills in the country right now where waste is in place. and we ought to be harvesting the methane that is being used there and using it for energy. >> reporter: and, with landfills producing the third largest source of methane in the u.s., it's also a potential climate solution. one the outgoing biden administration encouraged, with more than $270 billion in federal tax incentives for greener energy already available. is this profitable? >> it is profitable. absolutely. >> reporter: a new direction toward a greener, cleaner planet. morgan radford, nbc news, ft. wayne, indiana. >>> still to come, the cold never bothered him anyway. saquon barkley turns on the jets and brings the eagles within one game of the super bowl. all that, plus a raven

let's say good morning to hal and bp. so bp that's bp hal is halliburton. we're just a few hours away from a trump presidency. he says he's going to bring oil prices down. drill, baby drill. he says, but oil companies don't like low oil prices. it costs money to drill. a poll by the wall street journal says economists expect inflation will get worse under president trump. we've talked about this before, kicking out immigrant workers, deficit spending, tariffs will all lead to higher prices if they are actually put into place. tesla ceo elon musk was invited to speak at trump's rally last night, joined by his young son. he was on for a short time, one minute, 14 seconds before trump came back up on stage. tiktok back on people's phones after disappearing for a few hours on sunday. tiktok shut itself down voluntarily ahead of the ban, only to reappear with this message thanking president trump. now mr. trump is not yet president, but tiktok understands the visuals here. now to remind you, it was trump who came up with the idea of banning tiktok in the first p

speaking to the bbc this week, the former bp boss, voiced his support for a targeted approach to chasing growth. and very rigorously — rigorously — targeted. i don't think... we can't afford doing whatever we want to do or letting chancellor's ambitions. this is... forecast for this year, there's some moments in the start of the year to really instil some on innovation, on really making place feel like it's coming out should be celebrated. and so one of the things that we are looking for is, for a while — for complex reasons, perhaps — through the system. 0k. that's just an example. for a very good reason. so why now move them upwards? there are always trade—offs, and i think that is important to say. at any one time government is calibrating the needs of certain missions over other missions, but i think notjust to our businesses here, but also to our investors overseas who are looking and wondering whether that uk i think when against infrastructure investment, for example, some of those are the biggest multisector, multisite, multi—region signals that you can send, that is probably why

bp strategy continued to get called into question.nd all of this leading us right back to opec and the saudis. when they might put long-delayed oil production back on the market. let's wrap it up and talk about all that. here now to lead us off and address the geopolitical side, president and ceo of the atlantic ouncil. joining us from riyadh, head of global strategy at strategy markets. i think it is 1:00 in the morning there, whatever time it is, so thank you for staying up for us. i'll go to you first. you've been hanging out, reading the oil tea leaves from the saudis, if you will, and maybe a little from opec, as well. what are they thinking? what do you think they're going to do about the incoming administration? >> well, there are no indications, brian, from my conversations in riyadh that opec has any appetite to provide a barrel bailout for washington at this juncture. there had been some speculation with washington really tightening the sanctions. the biden administration tightening sanctions on russia on the way out, potent

let's start off with bp.is cutting more than 7,500 jobs. about 5% of the global work force to trim costs. the company says the cuts are part of a new program to simplify the business structure. the company also aing it is reducing the number of contractors it employs by 3,000. >>> meantime, nintendo is releasing the highly anticipated switch 2 this year. an event with more information is scheduled for april 2nd. details on pricing will be revealed, but a new trailer for the switch 2 included footage of a new mario kart game. i say this having never played on any of these gaming apparatus. >> what? >> i know. >> you need to come over to my house. we have mar kbloe io kart. the old one. >> i am terrible at it. >> game night. better that, thank you. >>> coming up, a new twist in the legal battle between co-stars blake lively and justin baldoni. what balance doney is alleging in a new $400 million lawsuit. >>> the dark side of gold. dozens of miners are dead in south africa after a standoff with police at a gold

who is this, the city of sue a volkswagen who bp the gardens committee and that's on the list. the last 4 digits on that the showed us the notes of the problem that we discussed on use of give the somebody hopefully out of that you was to use a chain, you know, fucked interest you on the properties and would use that property as an immortal. bought at the property any more exposure itself to interest that it's itself according to research park on the use of new bas wants shouldn't be stick to the used lot. which was, you know, lots of people just to bring you to make sure you're subscript performed on the bar or to those things you were using it also the of, of by the old wide steel with the lock or a couple of them will sus dominance fellowship for to get a more inca pretty the at the other. so he lives out. in 1941, the film red mist was released in nazi germany. send them us depicted a lunch to atrocities committed by red army soldiers in the baltic states. later in the us that the footage of shows and torch and civilians had been stage. the ministry of propaganda, the royce

try you up with bp, the gardens and that's on the list. the last 4 digits on that, the showed us the notes of the problem that we discuss all use of give it somebody put it out in that you was to use any chain, you know, fucked interest you up on the properties and would use that property or from what i bought at the property anymore uh, supposedly self consciously its of so according to visitors, park on the use this new bill for ford should be speak to little or used and officer were supposed to be able to get this to bring you to fix that and give yourself a good promotion on the truck or to the lease that you were using. it also the of apply the old wired steel with the is our door a couple of them. will sus covenants get a little cheaper to get a more ink of pity? the other the other civic is actually a 1941. the film redman is was released and non so gemini cinema depicted a lynch, the atrocities committed by red army soldiers in the baltic. states later in the footage of shows, intelligent civilians had been stage. the ministry of p

as we heard at the beginning of the segment from the bp -- the vice president, he warned how long uncertaintyill last and the urgency of passing the budget. we had zero growth in the last quarter of 2024 and the bank of france expects sluggish growth in the next couple quarters. tom: caroline, thank you very much. as we look ahead to the preview of the prime minister's speech today, politics in france, uncertainty weighing on bond markets there but we have a similar story, different dynamics but similar measure in the u.k. how u.k. bond markets could impact personal finances on bloomberg.com, today 12:00 p.m. london time, bloomberg orders breakdown implications for u.k. mortgage rates and savings, the stock market and more. terminal clients and digital subscribers can login it direction -- direct questions to the team. coming up, california's governor wants an additional 2.5 billion dollars of state spending to a emergency response in los angeles. the latest on the wildfires, next. this is bloomberg. ♪ tom: welcome back. it is tuesday. the other stories making news today, southern california

- bp is dropping. - ron, we need to move. - i heard you. - 80, 70. - come on, ron.ouldn't call what i did in there prayer. it was, uh, more a verbal, uh, centering of-- [sighs] look, there are no atheists in the foxhole, ok? [applause] - nice. - hey, great job in there. - thank you. just like riding a bike, which is, frankly, terrifying at my age. - it seemed like you were talking to someone in the sk perhaps like a sky scientist? - hmm. heavenly father, please make her disappear. - oh, wow. well, she's not going anywhere. - this is a hard job r all of us. and you learn pretty early on that you have to cling to whatever's going to get you through the day, whether that's your beliefs or your friendships or even just a lucky pair of socks. - [grunts] - you do what you have to do because we're all here for the same reason. we want to help people. - alex. oh, excuse me. this is important. how familiar are you with the chinese zodiac? so i'm year of the monkey. and since capricorn's a goat, that makes me a goat monkey or, as i call it, a "gonkey." um, let me go get a pen

important point that you will hear from kristi noem and others, when you are talking about the dea, ice, bp, that is what they say when we heard from biden administration, whole of government approach. it did not work under last administration, whole of government approach is all assets, all law enforcement agencies going out there with secretary kristi noem, boots on the ground and tom homan boots on the ground, as well. this is what it looks like. >> steve: griff, we don't know whether or not the department of homeland security gave the city of new york, which is a sanctuary city a heads up, we know tom homan met with the mayor here a couple weeks ago. what is interesting, images of kristi noem and they are circulating now on x, images like that and also images we've seen over last week or so, people on deportation flights back to their country of origin or wherever they go, that will have chilling impact on number of people who are still willing to have cartels try to get them across the border because they realize, it is no longer joe biden in charge, there is a new sheriff, literally,

and a lot of european companies, bp and shell are believing they will not get energy they fo thoughternative, they are going back to exploring natural gas. i want to focus for a second on your tenure as governor of texas, we meet just after the financial crisis of 20,009, texas -- 2009, texas had a record that exceeded u.s. in general of recovering from, that i asked you why. you said it not rocket s science. >> i said that many times. don't over tax, don't over regulate, and don't over litigate have a skilled workforce, they translate to accountable public schools, those are 4 tenants of governing if you put them in place, finding people who will support you on that is the challenge, in state of texas, starting back in 03, we were a republican state, we have not been a republican state for the last 21 years. and we started putting into place, the policies, where down over tax, you don't over regulate eand passed most sweeping tort reform in nation. and we started recruiting businesses across the country and the world, if you come do texas you won't be over taxed or over regulated or

meanwhile they had margaret brennan and her interview with the g -- bp j.d. vance. words for the u.s. catholic bishops condemning ice entering churches and schools. >> we are going to enforce immigration law. protect the american people. donald trump promised to do that and i believe the u.s. conference of catholic bishops, if they are worried about the cost, let them talk about the children who have been sex trafficked because of the wide-open border of joe biden. let them talk about people like laken riley who were brutally murdered. i support us doing law-enforcement against violent criminals whether they are illegal immigrants were anybody else. >> sean: the young children victims of violent crime, the fentanyl is killing our kids. that was far from the only topic that they discussed as they clashed over a number of issues with the vice president coming out on top in every exchange. while embarrassing the liberal anchor. take a look at some of the highlights. >> it was a tie, bipartisan opposition, you would break that type. how is he going to lead 3 million peo

bp and totalenergies and engie moving higher on the first trading day in 2025.important development from a political point of view with countries in the eu, in particular, slovakia upset at the fact that kyiv did not renew this agreement with russia. >>> elsewhere, poor harvest caused by extreme weather pushed soft commodities to record prices last year out performing the likes of oil and metals. cnbc's pippa stevens has the story. >> reporter: when you think about commodities, cocoa, coffee and orange juice are not the first things to come to mind. they were the top three in 2024 by a long shot. cocoa more than doubled and registered of the best year on record. coffee is around an all-time high. orange juice posted its best year since 2009. cocoa and coffee both require specific growing conditions and crops have been hit hard by extreme weather. unless there's a big improvement in cocoa supply from ghana and ivory coast, there will be a big issue and the market is just now realizing. when it comes to coffee, brazil is on the cusp of the fifth consecutive poor c

just a short time ago, ohio governor has appointed john houston to the senate seat that was vacated by bp vance. there was some discussion about that spot but governor dewine has shown his own lieutenant governor to fill it and in florida, ashley moody was tapped to fill the seat that was vacated by marco rubio who was expected to be the next secretary of state. as soon as that is confirmed, she will be stepping into that seat as the junior senator from florida. earlier today i spoke with the majority leader, and john thune who took over for the long serving mitch mcconnell here on capitol hill in that same office. we spoke about what thune refers to as the hard and close votes that lie ahead -- that allowed you to push through the agenda. -- to shake things up here in washington, d.c. what is he think about that, take a listen. >> reporter: how quickly do you think you can get them sworn and because honestly wants president trump is in office, speed will be very important. >> it is and i think they are hoping, at least that with both and when he is officially can firm by the senate and g

and we have identified some fuel enhancers like the coleman fuel and bp racing fuel and some explosive targets that can be purchased at any sporting goods store. we have also, as the sheriff mentioned, we have identified two semiautomatic handguns recovered from the tesla. we have successfully traced those firearms, and i can tell you that matthew lov livelsbergr lawfully purchased both firearms on december 30th, 2024. we have agents following up those investigative leads. we know exactly where those firearms were purchased, and we will share any developments from those leads as they come in, thank you. >> we also have the clark county fire chief here john steinbeck, and he did not have any additional updates but if there's any questions in regard to what the fire department did during this, he is here to answer those questions, as well. with that, i would just like to say before i take a couple of questions from all of you, you'll notice that we are not releasing information that we haven't corroborated and verified. we are very well aware of all of the things that are going around on

been active in this regard for years, so we have a very strong nim 303 for the quarter up four or five bpso the next year with a lot of confidence because of the hedging and activities along with the new volume of lending and fee business that in some cases already in the pipeline for the first quarter. liz: steven? congrats and we'll watch what happens in the next year with you and your bank and the entire sector of regional. we appreciate you coming on here comes the closing bell on this friday. >> [closing bell ringing] liz: all of the major indices will close higher, we've got green on the screen right now. remember monday will be right here with all of the inauguration festivities. we'll see you then. david: hello, everyone welcome to a special edition of kudlow. i'm david asman in for larry kudlow. well, the countdown to inauguration day, we are just three days away from president trump's return to the white house, and his nominees are just sailing right through their confirmation hearing

the order allows a case to proceed from the city of honolulu that aims to hold bp, shell and others liableillions of dollars in damages linked to climate change. also today, the court denied a utah lawsuit seeking to take control of nearly 19 million acres of land from the federal government. it also sidestepped two gun related cases, one in maryland related to handgun licenses, and the other a challenge to delaware's ban on assault-style rifles. and the court upheld a state house district in north dakota that's located on an american indian reservation. in space news, meanwhile, blue origin called off the debut launch of its massive new rocket early this morning minutes before blastoff. standing 320 feet tall, the uncrewed "new glenn" is the company's first rocket that aims to bring satellites into orbit. >> ok. we have just been getting an update from mission control. we are standing down today's launch attempt. amna: today's liftoff was canceled after launch officials reported unspecified technical issues. new glenn is blue origin's attempt to rival elon musk's spacex rockets, which hav

david: while their people and by the way, ice agents and bp agents are putting their life on the line to try and get rid of the bad guys. by the way, our deepest sympathies to you for the loss of that border patrol agent up north in vermont killed as a result of his activities. you guys are doing great work and again, our heart is with you. art del cueto, thank you so much. >> thank you. david: we're going to be following the president's movements but first, ai and crypto czar david sacks says the u.s. is about to dominate the crypto industry thanks to donald trump. listen. >> the u.s. leads in virtually every category, and crypto is one of the few exceptions, and i think that'll be very, very quickly rectified because of president trump's expletive order. david: we have more from that exclusive fox business interview coming up. and the saudi crowned prince told donald trump he intends to invest $600 billion in america. now, trump is pushing to bump that up to $1 trillion. listen. >> saudi arabia investing at least $600 billion in america, but i'll be asking the crowned prince, who's

and bp's now 5 years after his death, are con la can still be felt on practically every street corner statues, tributes and murals all to kobe cover the walls. mourners left flowers at bryan statues outside crypto dot com arena today. bryant's mamba mentality continues to have such a profound impact on the athletes. and for many fans. well, still ahead in sports, we'll go out to the gridiron for the nfc and afc title games. air wilson. >> has all the highlights for you and more coming right up. the strong impact of african americans in the u.s. military is evident throughout our nations cup history. >> and tonight, reporter shawl turner has the story of a retired lieutenant colonel who at age 97 is still making a difference. >> time to and a time to honor the contributions of women who bravely serve their country. >> 7 years later my home was changed because i joined me the military women's memorial for claiming lieutenant colonel martha baker, a living legend. >> and a special ceremony attended by aurora's mayor and other dignitaries. anybody comes to the national military women's me

>> i have of bp oil spill, senator attorney general for the state of florida.s an immediate concern, i would be concerned about helping you in california with all of the criminal acts that i'm sure are happening throughout your state with the looting. and this is just from a watching on the news. you have been there on the ground. crime is rampant in california and it is only going to get worse based on the fires. price gouging is when people come and try to raise the price of goods, water, central commodities, when people have lost their homes. not everybody lives in a, most . they have lost everything they have had. i'm committed to working with everyone in california constantly to help the people in the aftermath of these fires and do everything i can. >> we will need your help on that. we will need your help on attacking the scourge of fentanyl. we cannot solve this problem as a local government or state government or federal governmental loan. we will need to work together on that. and let me ask one last question if i may go to mr. chairman, important to

up four or five bps from the third quarter, and we're going into the next year with a lot of confidence because of the hedging and activities along with the new volume of lending and fee business that in some cases already in the pipeline for the first quarter. liz: steven? congrats and we'll watch what happens in the next year with you and your bank and the entire sector of regional. we appreciate you coming on here comes the closing bell on this friday. >> [closing bell ringing] liz: all of the major indices will close higher, we've got green on the screen right now. remember monday will be right here with all of the inauguration festivities. we'll see you then. david: hello, everyone welcome to a special edition of kudlow. i'm david asman in for larry kudlow. well, the countdown to inauguration day, we are just three days away from president trump's return to the white house, and his nominees are just sailing right through their confirmation hearings while the president-elect is reportedly preparing a slew of executive orders on the very first day. that be monday. so, what will day o

shell, exxonmobil, chevron and bp are among those named in the suit. the companies are arguing climate change is an issue under federal law and should not be addressed at the state level. oil companies are accused of using deceptive marketing and public statements, instead of acknowledging the impacts they have had on climate change. >> amid increased awareness about ultra processed foods, more people are turning to a new tool meant to help consumers identify highly processed food at the grocery store. ultra processed foods are engineered with added ingredients including fat, sugar, salt, artificial colors and preservatives. while consumers can certainly read the label, one doctor working with harvard medical school has created a database that ranks 50,000 processed foods sold across giant retailers. >> final goal is to actually have this as a tool for public health, for public health monitoring, for learning about the habits of the american people, what is offered to them and actually improve the overall health. >> the database can be found on true fo

we have this new program called bp. we want to move everything there but you don't do it at one time. rob, you want to take it from there? mr. orifici: thank you for the question. in 2022 and earlier, we could only release a version of vbms once a quarter because it was so large, so many pieces needed to be tested, gone through and fixed as the bugs were found, it didn't make sense to continue in this model in which we had to wait so long to get a piece of it out. we looked at the very strategies we could take before releasing vbms faster and good and capabilities into the field, testing individual parts without having to retest the entire system. that led to the modular approach that we are taking with vbms today. we can work in smaller modules. the parts make up the whole. we can deploy. right now we are deploying functionality every two weeks and we have a very ready, agile system to make sure they have the functionality they need. rep. rosendale: thank you so much. mr. delbene, in 2020 three, the v.a. was soliciting

the word lower your own carbon footprint, which is of course know a term popularized by ogilvy on of bp. so. and it was what a loss if we're all just doing the same things, please do those things, by the way. like do them. we should all be doing them. and yet we need to bring. our special magic, our superpower into the mix to. so what are you good at? i'm and i think it's worth saying we should be very generous with ourselves about that category. like, are you really good at planning parties? that would be helpful. do you make good websites. we need those. are you just like an incredible project manager? great. we need too. this is not about, like, engineering per se. right. or only politics. so what work needs doing? there are hundreds, if not of climate and justice solutions. so i that people check out project drawdown for a list if you need some inspiration so drawdown dawg has these different climate solutions there relative you know benefits on reducing greenhouse gas emissions etc. and then on top of that, they also because catherine wilkinson was there editor in chief there for a

i think seven of your originals, including bp and shell.t, you know, that you. sorry you're selling at a much higher rate right now and not honoring their contracts. what do you tell people about that arbitration in terms of why you think it's not going to be perhaps a threat to your business? >> yeah. it's not. we're absolutely consistent with all our contracts, and we use the same contracts that the entire industry uses. they're all dictated by the project finance banks. when we complete calcasieu pass, which. is the facility that that you're talking about, will be the second or third fastest facility that's ever been built. and, you know, our primary regulator is ferc. and ferc has said we're not in service, we're not complete. and until you complete the facility, we're generating commissioning cargoes. but because of the unique way that we produce our liquefaction, with our modular trains, we produce a lot more during construction than anybody ever has before. all those customers know that, and ultimately, they'll enjoy all 20 years of

jonathan: before we get to cpi, tomorrow, bp and fed speak from john williams from the new york fed.for interest rates. there are a handful of officials right now who are uncomfortable with inflation. one governor in the past week that didn't seem too uncomfortable, and that was governor waller. john williams is a part of the big trio, vice chair, federal reserve chair, and in the new york fed president. what he says will carry a lot of weight in the market. wednesday, cpi, and then being bank earnings kicking off. thursday, more earning from bank of america, morgan stanley. retail sales and then another round of jobless claims. the city of los angeles bracing for another round of santa ana winds. for a brief update, we can catch up with serene show --zohreen shah. >> the latest is the death toll is 24 people. the missing count, 16. one of my own neighbors is one of them. his family doesn't know where he is. right now, a lot of people are just fearful that their community could be next. the wind is expected to pick up again. we are here in altadena where i know three people that have

bondi: i handled the bp oil spill, senator, when i was attorney general for the state of florida.ght now as an immediate concern, i would be concerned about helping you in california with all the criminal acts that i'm sure are happening throughout your state with the looting. and this is just from me watching it on the news. you've been there on the ground, but crime is rampant in california and it's only going to get worse based on these fires and what happened. and price gouging is when people come in and they try to raise the price of goods, water, essential commodities. when people have lost their homes -- and not everyone lives in a big home. most people don't. and people have lost everything that they have had. and i am committed to working with everyone in california constantly to help the people in the aftermath of these fires and do everything that i can. sen. schiff: we will need your help on that. we will need your help on attacking the scourge of fentanyl. we can't solve this problem as a local government or state government or federal government alone. we need to wor

what's baked into market expectations and what drove that 100 bps increase in advance of the electionation of the tcja. if we start to see signals that the trump administration and congressional republicans are going to take on a lot more debt than markets thought, i mean, it's off to the races with respect to the long end of the curve. we don't know what's going to come out of the reconciliation bill, the expectation is it's going to be pretty much just current tax policy, but if the trump administration decide to say, use a trillion dollars in extra revenue from tariffs and use that to impose -- or to grant further tax cuts then you're getting a lot more issuance, i think you will see more turmoil in the bond markets. >> steve, what's up? >> a couple other data points here. the job growth was in the places we've seen t health care which was 69 -- health care, social assistance 70,000, leisure and hospitality up 43,000. interesting to see retail did quite as well as it did, north of, i think, 40,000 there. and like i said these were private sector, there were 33,000 government jobs,

the oil giant bp is to cut about 4,700 staff, more than 5% of its total workforce, in order to reducekforce of around 90,000, with about ia,000 in the uk. it has not said how manyjobs will be affected in each country. the blue origin rocket, belonging tojeff bezos, has launched from florida and entered orbit for the first time, after technical problems caused delays to its launch. bezos is the billionaire founder of amazon and wants his company to rival spacex, which is owned by elon musk. our science correspondent pallab ghosh has more. lift-off. jeff bezos's new glenn rocket hurtles into the night sky. its powerful engines take it toward space. pressures are good. vehicle's cleared the tower. but can it achieve its main objective — to reach earth orbit for the first time? we got to orbit safely. congratulations, blue origin. you've gone orbital! the folks behind me are celebrating. it is a good night here up in mission control. we have lift—off. blue origin�*s rival, spacex, sent rockets into orbit more than 400 times. and last october, it did this... catching the first stage of its