pippa, paul stay with us. this is a story that pippa is very closely connected to.s of people been following the christmas party story making comparisons with the barnett castle story involving dominic cummings, if you want to hear that the inside story of that story, pippa along with the editor of the guardian spoke to the media show on an earlier edition of the programme a few months back which you can still listen to online. let's bring in bloomberg news in—house communication and former director of communications went to reset may was prime minister katie, i wonder how you assess the government has handled the last nine or ten days. one disaster following another. i feel that boris johnson i actually made things worse at prime minister's questions today, not better. _ i never like to see an adviser go and cry on doorsteps - because actually, the person that went home early ended | up taking the rap for it. i don't think that's fair either. - he says he's sorry for the event, - for the video, and the impression it gives, l but there's no sorry for the party. - in

pippa? i hope so, if it goes ahead. sorry _ pippa? i hope so, if it goes ahead.d. the thing i would try and keep in mind is that when— try and keep in mind is that when im— try and keep in mind is that when i'm reporting on the people _ when i'm reporting on the people are my friends. there is a personal— people are my friends. there is a personal detachment there. do a personal detachment there. up you feel that detachment paul as you watch the consequences of your story have a personal impact on allegra stratton and personally other people to? if the lead story involving allegra stratton was the former colleagues very kind.— allegra stratton was the former colleagues very kind. there was an interesting _ colleagues very kind. there was an interesting dimension - colleagues very kind. there was an interesting dimension when l an interesting dimension when we are — an interesting dimension when we are tackling _ an interesting dimension when we are tackling the _ an interesting dimension when we are tackling the story- an interesting dimension when we are tacklin

pippa, paul, thank you, stay with us.ring in other guests, this is a story that pippa is very closely connected to. lots of people been following the christmas party story making comparisons with the barnard castle story involving dominic cummings. if you want to hear the inside account of that story, well, pippa's editor along with the editor of the guardian spoke to the media show on an earlier addition of the programme a few months back which you can still listen to online. let's bring in kitty donaldson from bloomberg news, michael crick from mail plus, and katie perriorfrom in—house communications and former director of communications when theresa may was prime minister. katie, i wonder how you assess how the government has handled the last nine or ten days? it's an utter disaster- and one following another. i feel that boris johnson i actually made things worse at prime minister's questions today not better. _ i never like to see an adviser go and cry on doorsteps _ because actually, the person that went home early

this is a story that pippa is very closely connected to.lowing the daily christmas party story making, comparisons with the barnett castle story involving dominic cummings. let's bring in bloomberg news, in—house communication and former director of communications to theresa may as prime minister katie, i wonder how you assess the government has handled the last nine or ten days. another disaster and one following another. - i feel that borisjohnson actually made things - at prime minister's questions today not better. _ i never like to see an adviser go and cry on doorsteps _ because actually, the person that went home early and ended up. taking the rap for it. i don't think that's fair either. he says he's sorry for the event of a star for the video _ and the impression it gives - but there's no story for the party. ido i do not think the public are following _ i do not think the public are following for— i do not think the public are following for that, - i do not think the public are following for that, nor- i do not think the public ar

thank you very much to pippa and to paul. if you i much to pippa and to paul.o stamp out the habit. under the plans, anyone born after 2008 will never legally be able to buy cigarettes in their lifetime. it's part of a package of measures, including reducing the numbers of licensed tobacco shops from 8,000 to 500. convenience stores have warned the move could create a black market for tobacco. lucy grey reports. at the moment, you have to be 18 to buy cigarettes in new zealand, but under planned new laws, anyone under the age of m will never be able to buy cigarettes legally. the age limit will then be increased every year until the whole country is smoke free. we want to make sure young people never start smoking. so, we are legislating for a smoke—free generation by making it an offence to sell or supply tobacco products to those aged ilt, when the law comes into effect. as they age, they and future generations will never legally be able to purchase tobacco, because the truth is there is no safe age to start smoking. the government particularly wants to help

so, first of all, pippa, this is a huge... as people | pippa, this is a huge...on or to the police or whoever, then of course, there will be proper sanctions. but in the meantime i think what we should do is let simon get on with his job, and i am sure he will be making his findings public as soon as possible. are you restricting him to looking at 18th _ are you restricting him to looking at 18th december, that is the question? at18th december, that is the question?— at 18th december, that is the cuestion? ., ., . , ., question? for guidance has been, and the rules have — question? for guidance has been, and the rules have been _ question? for guidance has been, and the rules have been observed, - question? for guidance has been, and the rules have been observed, at - question? for guidance has been, and the rules have been observed, at all. the rules have been observed, at all times, and he's looking at the issue of 18th december, he may wish to look at other things, that is a matter friendly for look at other things, that is a matterfriendly for him. look at ot

how is 2022 looking then, pippa?ity, the levels of investing that we've seen in 2021 >> well,we have seen a slowdow in the spac market for clean tech but in the private market 2022 is shaping up to be another very strong year. we might see a pivot away from some of the more crowded areas including electric vehicles and into some of the more hard-to-decarbonize sectors like the grid so certainly a lot of things to watch here >> pippa stevens, thank you very much for that report on clean energy >>> coming up on the show, the real estate market has been red hot over the past two years, but with higher interest rates looming on the horizon, will the momentum continue into next year we've got your 2022 housing playbook, coming up next ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. >>> welcome back homes remaining strong in 2021 as mortgage

pippa, thanks for covering this.l up next, we'll talk to one who testified in the first round last week about the future of regulation and the recent crypto crch ckn moment ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire huh. is that true? geico's been saving folks money for 85 years? yeah, that's right. wait — so if geico's 85, that makes you — are you asking if i'm 85 years old? i mean sea turtles live to 150, so...nn — i — i was not. do i look 85? what! no! you, you look young, fff...you...you, you look young for...however old you are. geico. saving people money for 85 years. >>> crypto executives testifying befor

pippa, thank you very much >>> all right. still ahead, forget giant ships. signie little cameras be the key to fixing america's terrible supply chain problems hexcngn talk about that next o "t ehae. what does a foster kid need from you? to be brave. to show up. for staying connected. the questions they weren't able to ask. show up for the first day of school, the last day at their current address. for the mornings when everything's wrong. for the manicure that makes everything right, for right now. show up, however you can, for the foster kids who need it most— at helpfosterchildren.com ♪ >>> welcome back companies of all kinds are still struggling with global supply chain woes, from ships to shipping the problem may be getting a little better but not by too much so is hiding ships off the coast of mexico instead of l.a. the answer of course it is not. the next guest may have a solution, at least for the stores automation startup focal systems uses tiny cameras to monitor shelves and alert staff when stocks are running low joining us the ceo and founder fran

pippa, thanks. we appreciate it let's turn to phil lebeau.oday, almost. >> yes, it has been a choppy session but we have seen at times some of the airline stocks actually in the green. here is what we're seeing relative to the omicron impact i think a lot of people thought, here we go again, the airlines are going to sell off big time it really hasn't happened, in part because you have domestic travel, which remains strong look, the weekend passenger levels down just 13% compared to 2019 yes, international bookings are easing a bit, but when you look at where they are relative to 2019 they're only down 40% to 50%. i say only because, remember, there was a time when they were down 65%, 70%, 75% while we have seen greater lockdowns and we are showing you the international-related carriers, talking about american, delta, united. jetblue also has flights into the uk look, we haven't seen the kind of lockdowns that many people thought we might with this variant, at least not yet in europe so bookings, while they are softening a bit, they're still

pippa, thank. >>> now to the ipo market.reat year 391 ipos priced year to date almost 60% are below their ipo price. the post ipo performance this year as well underperformed the st. patrick's day. and nextier we are expecting high-profile names like stripe, chime, insta-great cart and mobile life spinning off from intel. dan -- are you in the office i am, i have an actual office. >> one person we know is there it is good see you what's been going on with ipos this year? would these numbers include spaces or is that an equally underperforming story. >> the data is messed up because of spaces. two machines, spacs themselves ipo and so there is not a lot of apples to apples there have been a lot of ipos getting out but the performance has been back. spacs have had you go hashave - struggles as well. >> at least into summer you have had what i would call publicly traded gauges for high valuation stocks like the rk that was doing okay. what happened? >> when a company goes public they only have to provide a couple of years of pa

back to you. >> pippa, thank you. >>> as covid cases rise, plans to return to the office are on holdreal estate recovering until 2024 in major cities hassan naji is the president and ceo of mark us and millichap, largest commercial real estate marketing firm in the united states i wonder if this is the same prediction as the airlines, airline ceos say they don't expect business travel to recover to prepandemic levels until 2024 but they do see demand surge, next year. how do you see this playing out? a similar way? or are we going to wait until 2024 to wait to see this recovery start to pick up? >> sure. thanks for having me on the program. from an office space usage perspective it is probably going to be 2023, maybe 2024, before we are back to normal, precovid normal however, a couple of thing to keep in mind commercial real estate investing has options. apartments are fully occupied. rent growth is at a record level. necessity retail, fast-food restaurants, drugstores are at a record high. demand for self-storage, student housing, all of these segments are doing well office space i

considering rolling back a key incentive for solar customers and it's weighing on the solar stocks pippa is here with that story. >> hey, kelly. well, a lot is at stake here and it comes down to a policy called net energy metering. this is when solar-powered homes and businesses are credited for the power they send back to the grid the policy has been key to rooftop solar's growth in california where there are 1.3 million systems installed. the state is divided about what these incentives should look like going forward a number of parties submitted proposals to the commission for consideration and they vary widely at the simplest, the three largest utility companies want to cut the rate they pay for that excess solar and also add monthly charges for resi solar customers. they say they unfairly shift grid costs on to those without grid panels. the storage association has called for a gradual decrease in the credit the utility's proposal would be sudden death for the industry because it increases the payback period for a solar system which is how long it takes you to make back that initial

pippa stevens is at the commodity desk hey, pippa. >> tyler, that's right w.or the week posting a seventh week of declines in the last eight oil has been alternating between fwans and losses in recent sessions as the market tries to ganl potential demand hits from omicron. this is especially true around the popular holiday travel season if people choose the stay home we could see lower demand. but opec said it can adjust supply if things change. wti is down 2.25%. brent crude dipping 2% nat gas also in the red here, calling to its lowest level since july on warmer than expected winter forecast levels. and since it's friday, a check on gas prices. the national average for a gallon is $.31 that's down ten cents in the last month contessa, back to you. >> a, thank you. >>> after the break, why this weekend could be the last big opportunity for retail this holiday season kourtney reagan taking a look at what retailers can expect in these final days before christmas. there it is. let it blow, let it blow, let it blow outside we will be back after this. >> hi. your

pippa stevens is at the commodities desk and brings us more. >> oil just now dipping into the red after confirmed the first omicron case in the u.s. wti at $65.99. brent cued down .1% at $9.19, falling below that key of $70 level. earlier today opec members led boy saudi arabia met to discuss output for january in what's a pivotal meeting as this new variant emerging opec officials saying they need to remain quote highly vigilant in assessing impacts tomorrow they will be joined by russia to decide whether to stick to the plan of increasing output by 00 barrels per day in january. goldman saying move leer is kbpt asked that the market has i don't have shot the likely impact morgan arc lot of thing to watch here back to you. >> all right we any that you will keep an eye on it for us pippa stevens, thank. >>> as crude does rebound towed, exxonmobil's darren woods spoke with derek faber on what the energy transition might look like for the biggest oil company in the country. >> we have the optionality and the flexibility to shift from the traditional investments and where we are leveraging

and we're going to get into exactly how those scoops happened with help of pippa and with paul.

from pippa show the casualness at the heart _ excellentjournalism from pippa show the casualness atghbours over the fence and not in the house and the. fence and not in the house and the madness— fence and not in the house and the madness of— fence and not in the house and the madness of it. _ fence and not in the house and the madness of it, but _ fence and not in the house and the madness of it, but when _ fence and not in the house and the madness of it, but when the - fence and not in the house and the madness of it, but when the rulesl madness of it, but when the rules are seen— madness of it, but when the rules are seen like— madness of it, but when the rules are seen like that _ madness of it, but when the rules are seen like that internally- madness of it, but when the rules are seen like that internally in- madness of it, but when the rules are seen like that internally in ten downing _ are seen like that internally in ten downing st. — are seen like that internally in ten downing st, that's— are seen like that internally in ten downing st, that's a _ are seen like that int

pippa, it was your paper that broadcast the story first of all. , �* knew? it's interesting, isn't it? because throughout, _ knew? it's interesting, isn't it? because throughout, we've - knew? it's interesting, isn't it? i because throughout, we've heard government minister after government minister, particularly the prime minister back away from denying that the party took place, but insisting that covid rules at the time had been followed. but number ten yesterday went further and hardened up yesterday went further and hardened up their response — i think probably to draw a line under the affair suggesting that no party had taken place. ultimately comes down to what your definition of a party is, i suppose, and for me, several dozen people in a crowded room drinking, playing party games and wearing christmas jumpers and doing a secret santa until well after midnight is classed as a party. 0thers santa until well after midnight is classed as a party. others may disagree. but what the video that itv have broadcast tonight shows is that, despite th

it was pippa crerar from the daily mirror who first reported on that christmas party in downing streetefing

in a letter, the force's new chief constable, pippa mills, said a uniform doesn't "grant officers immunity windsor castle on christmas morning. the 19—year—old was in possession of a crossbow when he was arrested. since then, he has been sectioned under the mental health act, and remains in the care of medical professionals. the number of shoppers looking for a boxing day high street bargain plummeted compared to pre—pandemic levels. footfall was down nearly 50% on 2019 as many people shunned shops and spent their money online. the british retail consortium said many retailers would continue to see a boost in online trade amid fears of the spread of the omicron variant. now, the weather with louise lear. hello again. we have been watching wet and windy weather sweeping in across the south—west and turning lighter and patchy nature. showers across scotland on and off through the day but sunny spells developing here as they were across northern ireland and northern england, especially cumbria. temperature

west mercia's chief constable pippa mills said she was "deeply sorry" adding that a police uniform didlly. wildlife across the uk is increasingly suffering the impacts of extreme weather events and natural disasters. that's the verdict of the national trust as it publishes its annual reckoning of uk wildlife "winners and losers". the conservation charity also warns some of the landscapes it cares for are being altered forever. our climate editor justin rowlatt reports. this is one of this year's wildlife winners. the first beaver family was released onto national trust property in somerset in 2020, and this year it produced its first kit. the baby beaver was born injune. but the uk's changing weather patterns brought losers, too. some seabird populations were hit by the storms that swept the country. other birds suffered from the unseasonable cold spells and frequent heavy rain in the summer. i've come to newark park estate in gloucestershire to find out more about how our changing climate is affecting the national trust's landscapes and the wildlife it cares for. and just look at this

in a letter, the force's new chief constable, pippa mills, said a uniform doesn't "grant officers immunityireland. it happened in county tyrone near omagh shortly before two o'clock this morning. the police say the three men died at the scene and a fourth man has been taken to hospital with serious injuries. the cost of global shipping has risen dramatically this year, as supply chains around the world battle with the impact of the covid pandemic. it's led to frustrating delays for businesses struggling to meet consumer demand, but also to tens of billions of pounds of profits for shipping companies. our global trade correspondent chris morris reports. on a misty morning in leeds just before christmas, at long last a container arrives all the way from china. cheering. this family—run business develops and designs fun gifts, and this is the busiest time of year. 90% of their stock is made in china — it helps keep consumer prices down, but nearly all deliveries in 2021 have been late. several containers full of christmas gifts won't get here untiljanuary. if we don't get this stock to them t

in a letter, the force's new chief constable, pippa mills, said a uniform doesn't "grant officers immunitygh street bargain plummeted compared to pre—lockdown levels. footfall for the full day was 45% lower than in 2019 as many people shunned shops, according to retail experts springboard. the british retail consortium said many retailers would continue to see a boost in online trade amid fears of the spread of the omicron variant. let's get more on this with diane wehrle who is marketing and insights director for springboard. are these figures as you feared they would be?— they would be? unfortunately, es the they would be? unfortunately, yes they are- _ they would be? unfortunately, yes they are. we _ they would be? unfortunately, yes they are. we have - they would be? unfortunately, yes they are. we have seen . they would be? unfortunately, i yes they are. we have seen very clearly from early december this self censoring the public has undertaken, particularly since the plan b virus came into effect. the nervousness of consumers concerning omicron. and we have seen people working in the

in a letter, the force's new chief constable, pippa mills, said a uniform doesn't "grant officers immunity windsor castle on christmas morning. the 19—year—old was in possession of a crossbow when he was arrested. since then, he has been sectioned under the mental health act and remains in the care of medical professionals. technological advances mean it may be possible to screen people for prostate cancer in the next five years, one of the uk's leading experts has said. around 50,000 people in the uk are told they have the disease each year and one in eight will be diagnosed in their lifetime. at present there is no national screening for the disease, however the institute of cancer research says that advances in genetics and mri imaging mean that a tailored programme may be possible in the next three to five years. the latest headlines on bbc news... the prime minister's scientific advisers will brief him today on the spread of coronavirus over christmas as he decides whether to impose more restrictions in england before the new year. in scotland and northern ireland, further measures co

pippa, thank you very much. >>> let's get more on the call this afternoon between pezs biden and putinot spot could potentially impact the energy markets. dan yergen joins us. what should we expect with this afternoon's phone call >> i think putin wants to put his objectives on the table. of course it is a predecessor to three meetings that will take place, three negotiations, in january. it's still a very -- it is basically still described as a crisis situation i was just -- preparing for this, i was rereading ing vladir putin's essay where he talks about how ukraine is being used as a springboard against russia. so this has been an obsession with him about wanting ukraine not to go into a western orbit, but to stay in his orbit that is -- all the objectives he has put on the table recently, that is the most important from his point of few. >> you mentioned there are other calls, january 10th, time to smooth this out. but how do you see this impacting energy markets right now natural gas prices are projected to go down in 2022 >> i don't think the specific phone call will change thing

pippa stevens has the commodity close. >> crude is down for the fthird time in last four days wti is at $70.57 earlier, it broke below 70 bucks dipping to $69.51. brent crude down to $73.57 the dollar is higher which makes oil more expensive for other currency holders they said the surge in cases will temporarily slow, but not upend the demand recovery that's underway some energy stocks are tradeing in the green refiners marathon, phillips 66 up >> the ppi showing almost 10% wholesale inflation in the u.s. over the past year where are these high prices coming from? steve liesman went looking for answers in the latest edition of the cnbc fed survey. what did you find? >> one bit of good news. it's seen peaking in february, but that's doubled the fed's target supply chain problems, the number one source. which is the reason most see the current levels at temporary. fiscal and monetary policy are given the rest of the blame for the inflation problem. why supply bottlenecks may work themselves out, less certainty for the outlook of the other part of inflation, labor shortage that's been

pippa stevens has the details. >> it is green for the day and the week for oil with both pti and brentining more than 7% and snapping its six-week losing streak wti is up 1.25 at 72.82. brent cued a began of 1.2% we just got the latest rig count data which showed seven new rigs added, bringing the total to 576, the highest level since april of 2020. display and demand is fragile, commerce bank saying with this new supply they see a sizable oversupply next year prices a the pump ticked lower perhaps not as fast as consumers might have hoped the national average for a gallon is $3.33 according to triple a, which is down eight cents in the last month. president biden saying moments he expects oil and gas prices to come down even more over the next two months. >> a ways to go below $3 a gallon. >>> as mentioned earlier it has been a huge we can for carbon prices which hit an all-time high crane shares carbon etf is up 9.%. joining us, the lead in carbon at his can be. >> the most volatile week we have had in carbon off the weak of a weak auction in california and profit taking yesterday in

the relief over concerns about omicron is helping stocks, also pushing oil higher pippa?ight. oil up again today continuing this bout of pretty extreme volatility we've seen over the last few sessions serl factors are spoupporting prices as well as saudi arabia raising its prices wti is up 3.5% at $71.95, reclaiming that $70 level. brent crude up 3.2% at $75.41. now ihs market out with a new report just now saying that price volatility is here to stay thanks to underinvestment in the sector they would upstream spending in oil and gas was $341 billion this year and that builds on 2020's investment, which was 30% below the prior year and a quick check on nat gas here in the green today but still down almost 20% over the last week after that really big drop yesterday tyler, back to you >> thank you very much >>> energy stocks also rallying today. the second best performing group on the s&p 500 diamond back, devon. up next, we're going to go to houston where a meeting of big names in energy is taking place. we'll be joined by the ceo of ba baker hughes, so stay with us. we lo

pippa stevens is here with that. >> reporter: clean energy under performance this year has been well the clean energy fund and solar fund are both down about 25% for 2021 but investors continue to pile into the space at a record rate, including in the private market. u.s. venture capital funding for clean tech hit $23 billion this year across 653 deals according to pitch book. the surge in funding is also pushing up deal values the average size nearly quadrupled in the first half of 2021 and 14% of vc funding goes into climate tech, which is a broad term that basically means businesses that focus omit gaig -- on emitting emissions. 60% is going to mobility and transport. this isn't surprising as everyone looks for the next tesla. cutting travel related emissions is important but it comes at the expense of capital for more critical decarbonization areas, including power generation clearly a lot of interest overall. >> there that has to be right now because of all thing to be in the future with the transition and aversion away from carbon. attention on climate especially in the wake of

with me i have the chief nurse for north west london, pippa nightingale. available at wembley, this iconic place? it’s vaccinations available at wembley, this iconic place?— this iconic place? it's fantastic, eo - le this iconic place? it's fantastic, people are _ this iconic place? it's fantastic, people are coming _ this iconic place? it's fantastic, people are coming forward, - people are coming forward, atmosphere is great, the atmosphere in their— atmosphere is great, the atmosphere in their buzzing, everyone doing their— in their buzzing, everyone doing their part. — in their buzzing, everyone doing their part, coming forward to be vaccinated — their part, coming forward to be vaccinated and nhs teams and volunteers have come forward to vaccinate — volunteers have come forward to vaccinate people so it's fantastic. there's _ vaccinate people so it's fantastic. there's been a huge rise in omicron cases in the london area particularly. right across the country. what is your worry about that? ., , country. what is your worry about that? ., y ., country.

pippa stevens. >> oil holding onto gains much of the session but not enough to push it into the green the week both u.s. oil and brent posting a sixth straight week of losses for the first time in three years. wti turning negative in the last hour after trading up 4% earlier in the day brent is up about one fifth of up with percent. it is worth noting oil isn't down more. traders are saying it is because of opec's decision to keep their meeting ongoing. it means they can react quickly once they figure out a who omicron means for demand and they can ajust accordingly gnat gas is down more than 20% on the week, the worst in nearly eight years. prices a of the the pump are starting to tick slightly lower. the national average for a gallon is $3.37, according to triple a down three cents in week snim. >> i am sure many drivers will take it even if it is three cents. >>> this disappointing jobs report putting a cap on a volatile week for markets. but our next guest says it is wages we need to focus on and the exact on margins robert thank you for joining us here today when you look at the

pippa stevens has more on the oil trade. >> good to see you oil staged a mid-morning turnaround and isidly in green. also coming off a second positive week this the last three. ity traders betting here that demand concerns around the omicron variant will be less than initially thought and short lifld. u.s. oil, a gain of 2.5% the highest level in a month as the contract continues to climb back to the $80 level it traded at before the omicron variant emerged. brent crude is up to $78.60. bill baruch at blue line futures saying that strength has been building for a couple of sessions with today's turn around it was on expectation has the uk will not impose new restrictions. he added a technical break above $73 is forcing some short covering nat gas, up nearly 9% here on cold weather forecasts >> oil whack above $75 gas prices no doubt are going to be moving higher as well. >>> now to a sector that's having a difficult day in an up market may have i rent you the airline stocks they continue to go down following a holiday weekend that saw thousands of airline cancellations. spirit down. un

. >>> now to the energy market oil closing for the day, having a big week pippa stevens has more >> oilpping a three-day winning streak and giving back yesterday's gains. this activity is tied closely to what we have learned about the omicron variant. new restrictions and new information about just how contagious it is is stoking some fears around demand. but oil also reboundeder inially ten bucks from the lows earlier this month also could be some profit taking here wt down is down 2.25% at $70.73. brent crude is about 2.1% right now. jp morgan noting today while there is this near term uncertainty each new wave has resulted in a smaller impact on mobility they see demands hitting a record high next year. despite today's losses both wti and brent are up more than 7% for the week, on pace to snap a six-week losing stroke with the best week since august >> thank you very much >>> now the apple, the stock hitting an yowl time high today. it could be the first company to hit a $3 trillion valuation. does the company have anything up its sleeve that could drive the next leg of growth steve

. >> i feel like that carbon price is the key to the price of the rest of the energy complex pippa thank, as we head into winter we are nearly ten mondays from one of the worst disasters in texas history a. record cold crunch hit stretching power grids to their limit and beyond it cost nearly $200 billion. more importantly, it cost more than 200 texans their lives. as this winter approaches, many are asking if it could happen again. brian sullivan is down in texas with more. brian? >> reporter:cally, that 200 estimate may be low. there are some numbers as high as 700 that may have lost their livls less than a year ago but with covid and the rest going on this hasn't gotten the attention it deserved. this on some level would be the most extensive natural disaster in american history if it was count as that. the winter storm hit weather dropped for a week power play prices surged to records that cut down and shut down a lot of power generation 4.5 million texanings lost power to their home. it is its own grid they couldn't bring in power from other states. 200 plus people lost their lives.

let's go to pippa stevens for the details. >> that's right. the u.s.ay. the energy administration said stock files fell more than the 3 million drop investors were expecting. wt is up 2.5% at 72.89 brent crude is at 5.41 for a gain of 2% as well gasoline inventory was off by 5.5 million barrels. which is the biggest build since union. omicron has canceled travel plans for millions of people over to nat gas, also moving higher, up 2.6% nearing the $4 mark we talked yesterday about the energy crunch in europe. look at this chart it shows that huge move. natural gas futures have gone from 17 euros per megawatt last year to 180 youras today a big move to watch. >> sure is let's start there. with big swing this nat gas price this is year, what can we except in 2022. >> joining me now, francisco blanch let's start with the nat gas prices amidst the energy crunch in europe and concerns whether there is enough nat gatt to get louis you the winter in europe what is your market outlook there for prices >> well, so, prices are, as you pointed out, at exceptionall

the day up about 50 cents but wrapping up a really good year, especially compared to solar stocks pippa stevens has the story. >> it has been a tale of two energy sectors this year traditional oil and gas stocks have surged and are on track for the best year going facebook 1989, following a nearly 60% jump in oil prices but solar and renewable energy stocks have slumped. this is a total reversal from 2020 when the energy sector posted its worst year ever and the invesco solar fund had a 233% gain. at the start of the year expectations for the two sectors were completely different. oil and gas stocks were left for dead and we didn't know when oil demand would recover meantime, investors are optimistic around renewable energy stocks following biden's inauguration looking ahead, firms say there is upside for each group buy investors need to be selective analysts favor traditional energy stocks. while names like sun run and array technologies are top picks across solar >>> tesla has a new kpet for in europe north volt announced it produced a lithium ion battery in sweden, the first one for

pippa has a look at the outsized moves they've been making. >> while climate is top of mind for youngerials and 76% of gen z say the u.s. should prioritize alternative energy development and the next generation 50 index includes names across the energy transition one area is nuclear power and cameco is in the index the canadian-based company is one of the largest players in the space and while the stock has come under pressure, shares are still up 70% for the year amid optimism around nuclear enphase energy, another name in the index. they make specialized inverters often called the brains of the solar energy system. the company has also expanded into power storage the only name in the s&p 500 and shares are up nearly 30% this year despite a 16% decline for the invesco solar fund hydrogen is an area getting a lot of interest and plug power is in cnbc's new index the area has been speculative for years, but with new attention and new capitol, green hydrogen will play a role and you can't leave out electric vehicles kelly? >> was there any consideration given to valuation here or was it s

let's also check on oil, sliding again today into the close pippa stevens with the latest. >> that'sare sending oil prices tumbling although crude is ending the day with lows well off the session. 68.66, wti clawing back some of the early losses which had the contract down to 6.5%. brent crude losing 2.5% after breaking below $70 earlier today. pgm oil associates saying this the nightmare before christmas although they noted the demand stow far has been modest calling it a speed bump rather than a roadblock. they said the downside risks do not threaten the medium turn but called the environment saying it could shatter at a moment's notice volume speaks to this as trader weigh all the potential outcomes from omicron >> quite a slide lately. >>> speaking of which, over to the bond market. the ten-year is holding at the 1.47 level, rick santelli has more, and a special guest. >> yes,'s all true, kelly. look at twos, threes, fives, sevens, they are all higher in price and of course their yields are lower, if you look at tens, 20s and 30s, their yields are a bit higher a two here, up abou

pippa stevens is covering the highs for us >> tyler, oil is debting a boost today as it continues toack to where it traded before omicron became a concern for the market traders appear to be betting that it is not going to have as severe a demand impact as initially thought. wti is up 2% at $72.23 brent crude is up 1.5% at $74.93 a positive data report is also supporting prices. u.s. gasoline demand hit 9.5 million barrels per day. this is notable because that tops the prepandemic level from december of 2019 according to commerce bank. but the firm said it is skeptical this good sentiment in the oil market will be carried overinto the first quarter instead they see supply significantly exceeding demand ubs saying while prices will remain volatile they are bullish on global and national oil stocks into 2022. >>> let's turn now to the word that's on everybody's lips, crypto cnbc showing the new members of millionaire club have a hefty portion of their wealth in crypto robert frarch joins us with the details. hey, resident. >> hey, tyler, more than 80% of millennial millionaires own coi

let's get the closing numbers from pippa at the commodity desk >> more green today for oil as omicronnue to subside. other crude is finishing well below its highs of the day wti is up .6% at $76.05. earlier today, it hit $76. the contract crossing above its 50-day moving average for the first time since november 24th a gain of half of one percent. later today, we'll get inventory day from the american petroleum i institute. analysts survey are expecting a five million barrel crude draw back to you. >> thank you >>> and as we get ready to raise a glass to a new year, let's get a check on the state of the luxury wine business here first on cnbc is alex ryan, chairman, ceo, and president of duck horn portfolio. a publicly traded wine company that's popped 30% since its ipo in march alex, thank you for being with us we know demand, we've talked about it, demand for alcohol has sort of surged during the pandemic can't imagine why. i wonder what some of the supply chain issues you hear some about, if you had to raise prices >> happy holidays and thanks for having me on no, we're a luxury pr

pippa stevens has those numbers for news clean tech has been a losing trade with year with the invesco clean energy fund down more than 20% and overcrowding could be one reason why. a huge influx of money going into clean tech and a host of new companies means there are now a lot more options for investors to spread their dollars between. there are now 200 companies across the clean tech ecosystem encompassing an all-time high market tap of $2.5 trillion. this is everything from solar, wind, evs, the group goes on and on the group raised a record $45 billion of equity in debt bringing the last two year total to $79 billion that's more than the entire amount raised two en2010 and 2019 one of six of the companies have been public for less than a year and more than a third less than two years. there are fundamental drivers for the underperformance, including supply chain issues, earnings misses and policy uncertainty, but crowding is certainly a factor here, courtney it is kind of like being a victim of your own success. >> very popular. the numbers are staggering. >>> now to a retail rei

pippa stevens is watching the final trades >> oil's roller coaster ride continuing the omicron situationmand impact it will have remains fluid so the volatility we've seen recently is likely here to stay for the time being wti finishing the day at $71.19. brent is at $74.02 for a fwan of 3.5% oil is sharply below the multiyear highs it hit at the end of october and jd securities noting that they'll remain under pressure until we get clarity on governments. nat gas is up today about 1% as it tries to regain the $4 mark in europe, gas futures are surging once again with futures in the uk jumping 22% today alone. this is pushing electricity prices to a record high after a record high. russia probing exports among the factors that is boosting those prices >> thank you >>> shifting gears to america's labor crisis the trucking industry short an estimated 80,000 drivers and counting let's welcome in jill. her firm is part of true blue, which trades under tbi jill, great to have you with us. we heard about the trucker shortage from even before the pandemic so what is the primary cause of it at t

is - the sunday mirror which is continuing to follow on from its exclusive earlier in the week with pippae there is farrell harris and elaine, the mother who died, she was 86, she died on the day that the party was happening at no 10 and her daughter has spoken to the paper saying mum was by herself because the rules meant i wasn't allowed to be at her side in her final hours. yet at the same time, no 10 chucked the rule book out of the window to have a knees up. she makes the point that if she had had a party at christmas she would have been fined £10,000. laura, your thoughts on this? the papers keep talking about it. is it cutting through? i talking about it. is it cutting throu~h? ~ , . through? i think it is cutting throu~h through? i think it is cutting through and _ through? i think it is cutting through and labour- through? i think it is cutting through and labour have . through? i think it is cutting i through and labour have called through? i think it is cutting - through and labour have called and written _ through and labour have called and written to _ through and labour have

west mercia's chief constable pippa mills said she was "deeply sorry" adding that a police uniform didchbishop desmond tutu, who died yesterday aged 90. 0ur correspondent nomsa maseko is outside st george's anglican cathedral in cape town. we are here outside the cathedral here in cape town and this marks where the majority of events are going to be taken place in honour of desmond tutu. he was a man of small stature but with a very big heart and this is what south africans are going to remember about him after all he was the man chosen by nelson mandela to head the south african reconciliation process and it was not an easy process but he did continue with that. there are going to be a number of memorial services that are going to take place not just here in cape town but in many other parts of this country. there's going to be an internet service as well that will be held amongst his closest friends on thursday and the archbishop is expected to lie and stayed here at this cathedral on friday night for one night and saturday morning his funeral service will be held here and this is wh

the picture had been obtained by pippa crerar of the mirror.d in the basement" shaun bailey we're told "�*eceived a lego set as a christmas present from a donor". hours before this, it was announced london would move to tier 3 because of spiralling case numbers. well this week, a spokesperson for the bailey campaign said: "this was a serious error of judgement" we fully accept that gathering like this as that time was wrong and apologise unreservedly. also mr bailey has resigned as chair of the london assembly's "�*police and crime committee. the transport secretary grant schapps is unimpressed by the whole thing. many of us were going to great lengths last year, including, as i mentioned, in my family, where i thought i may never see my father again. it is unacceptable for people to be breaking the rules. mr schapps says that the event at the conservative party's headquarters and attended by its candidate for mayor — was not authorised by the conservative party. the day afterwards there was a christmas quiz at no.10. the times had reported it

minutes left of trading energy one of the worst performing stock but solar stocks are getting a pop pippavens with a look at the move. >> complete reversal with traditional names underperforming today but solar stocks shining looking to wrap up the year on a high note after the 2021 lackluster performance. invesco fund up today. others leading the gains sun power among the u.s. based companies getting a lift the group is still down more than 20% for the year but some betting the selling is simply overdone jpmorgan said it had the highest level of growth for the group in ten years of covering the space. big moves for ev stocks today, as well. this is boosting the broad clean energy complex with the in vesco clean energy fund up back to you. >> thank you. >>> still to come, could the year's biggest tech losers be poised for a comeback next year? as we head to break a check on bonds. yields pulling back a bit. above 1.50 on the 10-year though >>> just under 30 minutes left of trading dow has just gone negative time now for a cnbc news update with rahel solomon >> here's what's happening at t

. >>> solar stocks are falling hard today pippa stevens have a look. >> the solar stocks are slammed.double digit percents and solar edge lower the downturns is thanks to a new proposal from california to slash the incentives instruments to the industry's growth the decision reduces how much customers are credited for sending power back to the grid and adds a monthly charge for access to the grid this is only a proposed decision there will be a common period before the cpu votes on a final decision in january at the earliest evercore said it's friendly than anticipated. needham said it clouds prospects and if passed as is would have a detrimental effect on the california solar industry and morgan stanley believes it's damaging to near term growth and margins. dom, back to you. >> thank you. >>> coming up, uber picks up ground musk sells more shares and why buy now pay later could be hitting a roadblock. those stories and much more when we take you inside the market zone, coming up. xfinity rewards are our way of thanking you just for being with us. enjoy rewards like sing family fun n

. >> pippa stevens, thank you. >>> is there an opportunity there, jason, in the solar names in particularer-term play despite some of the setback around build back better not getting done by the end of the year >> so for us on the solar stock and energy names, obviously they struggled this year. -- down 25% year-to-date but energy has led the market 50% year-to-date i would say there's absolutely long-term secular trends for a lot of these names in the clean energy space i think they just -- you know, a lot of them are high multiple names. and there has been some news floating around, some of the tax benefits might be taking off the table. so i think those are some of the headwinds that have kind of pulled some of these names but i do think long term there's opportunity. >> affirm adding to the pain in a number of fintech stocks over the past month but the traditional payment companies doing better deirdre bosa's got a breakdown for us >> it was supposed tomorrow the rise of crypto, buy now pay later, digital commerce. but as 2021 comes to a close, investors, they're shunning the disrupto

pippa stevens here with a deeper dive >> that's right.p group sliding 2 %. it's also the worst performer on the week by far. dipping 5% now, there is some divergence within the sector. phillips 66 is the lone component that finished in the green and for the weekend, it was down 1%, making it the top performer amid a lot of red. fellow refiners, marathon petroleum and melero posting modest losses. devin energy and apa all fell about 9% for the week. this leg lower follows losses for oil and gas. both of which have come under pressure the gloeldman sacks saying oil could top $100 their see two scenarios. supply responds but inflation and rising oil field services cost push oil prices higher. or supply doesn't respond and since the firm thinks demand will hit a record in 2022 and 2023, this outcome would also boost prices to be clear, their base case is $85. they are not ruling out that triple digit handle. back to you. >>> thank you so much for that much appreciated >>> up next, bracing for economic pain. while many experts are banking on a

in a letter, the force's new chief constable, pippa mills, said a uniform doesn't "grant officers immunityaught in the grounds of windsor castle on christmas day — armed with a crossbow — has been sectioned under the mental health act. 0ur correspondent leigh milner is in scotland yard — good morning, what do we know? good mornin: , good morning, what do we know? good morning. dan- — good morning, what do we know? good morning. dan- we _ good morning, what do we know? (emf. morning, dan. we have been good morning, what do we know? (ef>;f>f. morning, dan. we have been told by metropolitan police at a 19—year—old man from southampton was stopped within moments of entering the grounds of windsor castle at about 8:30am on christmas day. before he could enter any of the buildings he was initially arrested on suspicion of reach or trespass on a protected site and possession of an offensive weapon. now that weapon was in fact a crossbow. but since then he has been sectioned under the mental health act and, as we understand, he is now being looked after by medical professionals. the queen has been