In the latest fighting, israel has bombed a building in central beirut. Both Israel And Hezbollah have reported a second day of intense fighting on the ground in southern lebanon. Oil prices jumped on tuesday over supply fears, with markets regAining ground as investors seemingly come to terms with the escalation in tensions. Lets have a quick look at the price of oil, once agAin today, more than a i once agAin today, more than a i increase, the price of oil just below 75 per barrel. It would look at the Share Markets in asia, its an interesting picture were seeing. Japan is seeing a bigjump, Over2 because of the yen has weakened significantly on anticipation of what might happen in the japanese Economy But Hong kong is down over 3 . Big profit taking going on in hong kong, over the last few days there we have seen rapid increases on these markets in response to chinese stimulus so chinese stocks have had a real rise in recent days. Today, profit taking going on there but elsewhere, as you can see, Share Markets fAirly muted if not flat as investors keep a very close eye on the Middle East. For more on that, heres our North America Business correspondent, ritika gupta. Stocks closed, little change in the us, reversing losses earlier in the session over concerns of the Middle East tensions, there was a debt to risk appetite, we know markets dont like uncertAinty and they are wAiting to see Israels Response to a debt to risk appetite, we know markets dont like uncertAinty and they are wAiting to see Israels Response to that gAined on wednesday were Energy Stocks as Crude Oil prices rose nearly 4 before retreating over fears of Supply Disruptions from the conflict. The Big Rush to Safe Haven assets like gold and us government bonds is somewhat but overall, markets were in wAit and see mode. That overshadowed some positive news on the economy aS Private Sector Hiring or adp data came in better than expected for september, adding 143,000 jobs last month, suggesting the Labour Market is holding its ground despite some signs of weakness but the focus will be on fridays in septemberjobs report, more likely to impact the Market And Head of the federal reserve � s next move on Interest Rates in november. Ritika gupta there. Many have warned one of the biggest changes we expect to see from any conflict in the Middle East is on the price of oil. In the past, it has risen sharply over fears of Supply Disruptions from one of the worlds biggest oil producing regions. But so far, the reaction has been relatively muted, prices initiallyjumping before pAiring back. So why the change . What can we expect going forward . Gaurav sharma is Energy Analyst at oilholics synonymous. Good to have you on the programme. I liking the name your organisation. What do you think will happen next in terms of the price of oil, what is your prediction . Its of the price of oil, what is your prediction . Of the price of oil, what is your prediction . Its good to be back your prediction . Its good to be back i your prediction . Its good to be back. I think your prediction . Its good to be back. I think what your prediction . Its good to | be back. I think what looking at is you refer to the muted response and that iS Primarily down to the fact that we have another dominant producer in the market in the shape of the united states, so the us right now is leading crude producer and that has kept the lid on prices. When a development like This happens, people turn to their screen and say. If This had happened say ten years ago, you would have seen at least a five or 10 jump, you would have seen at least a five or 10 jump, the fact you would have seen at least a five or 10 jump, the fact that there is so much Crude Oil in there is so much Crude Oil in the market, notjust from the us but brazil, guyana, norway, lots of optionS People have, especially the lighter crude, thatis especially the lighter crude, that is kept a check on what is a very profound and serious element of the market. Ministers had a meeting yesterday, of course they will have discussed This in great detAil. They themselves will be looking ahead as to what they need to do with regards to production cuts. What do you think . I production cuts. What do you think . ~ production cuts. What do you think . ~. , think . Ithink largely, opec, over the last think . Ithink largely, opec, over the last six think . Ithink largely, opec, over the last six weeks over the last six weeks regardless of This developer, has been a bit of a spectator because other non opec players have stemmed the breach. Now i think opec is making the market aware that the saudis in particular and Opec In General has room for spare capacity so if Tensions Flare up in iran, they could step in but right now, what weve seen and the evidence over the last couple of years that opec has desperately tried to Support Prices rather than come to the rescue of the consumer. We will be watching rescue of the consumer. We will be watching closely rescue of the consumer. We will be watching closely regardless. | be watching closely regardless. Thank you for your time This morning and analysis. To tech now, and openAi, the maker of the ground breaking chatgpt, has just become one of the most valuable Start Ups in the world. OpenAi has rAised some 6. 6 billion, in funding as investors bet big on the market leading artificial Intelligence Developer as major Backer Microsoft increases its Stake And Chip making giant nvidia joins the party. The deal gives the Tech Firm a value of 157 billion. Thats similar to the Investment Banking Giant goldman sachs, and more than most of americas biggest companies. OpenAi has been making headlines lately as it reportedly looks to restructure, removing control from its non Profit Board and allowing its chief executive, sam altman, equity. Lets unpack This with fiona from city index. We knew they would be pretty successful in rAising funds. Everybody wants a bit of openAi at the moment, dont they . A bit of openAi at the moment, dont they . Massively. This was very oversubscribed, dont they . Massively. This was very oversubscribed, there dont they . Massively. This was very oversubscribed, there was| very oversubscribed, there was a lot of demand and that is basically because openAi is expected to lead the next wave of generative Ai. Expected to lead the next wave of generative al. The expectations are for revenue to almost triple next year to 11. 5 billion from its roughly 3 Billion from its roughly 3 Billion level at the moment. This is a stock that is really expected to be at the very foundations of the nexT Level of generative Ai and because of that, there was really strong demand and as a result, there was also some very particular arrangements to the deal for funding. For example, there were requirements for exclusivity and as you also mentioned, it was done on a convertible Notes Basis so basically, but is on the conversion to equity is hinging on a successful structural change from that into a for Profit Organisation from the non Profit Organisation that it the non Profit Organisation thatitis the non Profit Organisation that it is at the moment. This has been that it is at the moment. This has been reported that it is at the moment. This has been reported in that it is at the moment. This has been reported in the financial times, has been reported in the financialtimes, hasnt has been reported in the financial times, hasnt i dont think openAi has made a statement about This or anything yet. But it is set to be seeking these exclusive relationships, which means for those companies that choose to invest in openAi, thats quite a big dealfor them because it means they cannot then invest in other Ai platforms, is that correct . ,. , correct . Yes, exactly. That is that a sort correct . Yes, exactly. That is that a sort of correct . Yes, exactly. That is that a sort of exclusivity that a sort of Exclusivity Funding Arrangement and it basically restricts these Investment Firms from investing Investment Firms from investing in other rivals and basically it works by restricting Rivals Access to capital so that does also mean that openAi can, to a degree, mAintAin that first Market Sense and that leading advantage that it has. It is quite a strange requirement. It is rarely insisted upon but given that perhaps there is a lot of sensitive information and the fact that it is oversubscribed and the fact that they wanted to form close relationships with their investors, that is the most likely reason it has been cited as being behind This. Ok. Likely reason it has been cited as being behind This. As being behind This. Ok, and as being behind This. Ok, and as ou as being behind This. Ok, and as you say. As being behind This. Ok, and as you say. They as being behind This. Ok, and as you say, they also as being behind This. Ok, and as you say, they also wanted | as you say, they also wanted now that they can make these kinds of stipulations. Fiona, thank you so much and we will see you agAin soon. Fiona cincotta is from city index. To the worlds richest man now, Elon Musk. He has his Ai company, Called X al. I imagine he will not be Ai. I imagine he will not be happy at all to hear about openAi wanting exclusive relationships that could impact his ambitions in This area. The multi Aire-owner'>BillionAire Owner of Tesla And Spacex is due to testify today to the us financial watchdog, the sec, over his 44 Billion buyout of twitter, now Called X. Mr musk was due to testify back in september but fAiled to show up. Meanwhile, tesla shares closed over 3 down on tuesday on the back of its latest Vehicle Delivery numbers. On wednesday. They were up in the three months to september compared to last year, but fell short of market expectations. However, tesla retAined itS Position as the worlds top ev maker, above chinas byd. Which is constantly snapping at its heels. Nishit madlani is Managing Director of autos, Business And Technology at S P global ratings. Good to see you. Another busy week for Elon Musk, he is really out of the headlines. If we start with his grilling about the acquisition of twitter, now known as x, what do you think will happen today . First of all, thanks for having me. What i will say is that from a Management And Governance perspective and a reading standpoint, the obvious view is a moderately negative situation. The company has had corporate governance reforms following that Privacy Investigation by the sec. Done a few things that we did in the right direction. There was a settlement in 2018. Review the key Person Risk is very high given at the very dominant control Elon Musk has and of course, relative to most automotive companies, the company will remAin overexposed from regulatory scrutiny. They have exposure to to their direct consumer model, robo taxis, Data Protection issues but one important aspect is none of these lawsuits are investigations so far have had any material impact on their brand orfinancial any material impact on their brand or financial condition. Any material impact on their brand orfinancial condition. I brand or financial condition. I think thats an important point to make because while all This is going on, x is still seeing huge amounts of traffic, which is becoming more and more intense in the Run Up to the us election. Having sAid that, i dont know what their ad revenues look like Four X currently and tas larnach, still managed to stave off the way d. In china, it is losing its market share, somewhere it was very strong a few years ago. Was very strong a few years am,. , � , was very strong a few years auo. , � ,. , ago. Thats right and they released ago. Thats right and they released their ago. Thats right and they released their production | released their Production Numbers for 23 just yesterday and it was consistent with our big picture expectations. Our expectation was they will hit a Delivery Run of about 2 million. Sometime next year, so they appear to be on for that. On your point on china, one Silver Lining for tesla relative to other ev makers, even though weve seen a slow growth in ev � s in North America and europe, china is still remAining fAirly strong and tesla has been offering attractive leasing terms so i wouldnt be surprised if we see some stability when they announced their results for that market. Announced their results for that market. Thank you very much for that market. Thank you very much for giving that market. Thank you very much for giving us that market. Thank you very much for giving us your that market. Thank you veryj much for giving us your Take That market. Thank you very i much for giving us your take on what is happening. Staying in the us, where a strike by Port Workers all along americas Eastern Seaboard continues. Us Business Groups have warned of economic paralysis just five weeks before the president ial election. Unions have turned down the latest Pay Offer of a 50 rAise, with automation at ports a major sticking point. Speaking to the bbc� s speaking to the bbc� s sumi somaskanda, us sumi somaskanda, us Transport Secretary PeteTransport Secretary Pete buttigieg says these Issues Buttigieg says these issues can be overcome. Can be overcome. Those concerns are able to be those concerns are able to be addressed, there was language addressed, there was language in the last contract for in the last contract for dockworkers and we spoke to dockworkers and we spoke to those issues, This is an those issues, This is an example of the sort of Things Example of the sort of things that the two parties have to that the two parties have to come to terms on but we believe come to terms on but we believe that can absolutely be done, that can absolutely be done, certAinly we have seen in other certAinly we have seen in other countries that have a very countries that have a very strong Labour Tradition and strong Labour Tradition and Labour Protections, ways that Labour Protections, ways has been addressed in a collective bargAining was not the bottom line is that we strong Labour Tradition and Labour Protections that s strong Labour Tradition and Labour Protections that we believe in the collective the bottom line is that we believe in the collective Aining-process'>BargAining Process and its Aining-process'>BargAining Process and its capacity to create Notjust Capacity to create notjust Aining-process'>BargAining Process and its capacity to create not just the terms around issues like that. BargAining process and its capacity to create not just the terms around issues like that. Issues like benefits and the issues like benefits and the basic question of pay. These basic question of pay. These workers went without razors in workers went without razors in some recent years, including some recent years, including 2020, a year when they went to 2020, a work, covid was going on, many of them lost their lives doing a job that cant be done over sumer. It is understandable they want to participate in the astronomical profits that have been accruing to Shipping Economist in turkey. This is business today. This is business today. Many of us have been grappling many of us have been grappling with the effects of inflation with the effects of inflation and a cost of living and a cost of living crisis, but that has eased crisis, but that has eased substantially in the uk, europe substantially in the uk, europe and the us, where the high and the us, where the high prices have been tamed thankS Prices have been tamed thanks to aggressive action to aggressive action from central banks. From central banks. But spare a thought but spare a thought for businesses and households for businesses and households in turkey, they are also seeing in turkey, they are also seeing aggressive central Bank Action and where the mAin Interest Rate is sitting at 50 to tackle soaring inflation. Is This working . Guldem atabay is an independent aggressive central Bank Action were at 8. 5 originally. That has done thejob were at 8. 5 originally. That has done the job of pulling Down Inflation . Is it as simple as that . It Down Inflation . Is it as simple as that . ,. ,. , Down Inflation . Is it as simple asthat . ,. , , as that . It is not as simple as that, obviously. As that . It is not as simple as that, obviously. We as that . It is not as simple as that, obviously. We have as that . It is not as simple as that, obviously. We have the| that, obviously. We have the Monetary Policy in the correct path, finally, after all This time, after the general elections of 2023. So that will see the inflation coming down to 40, 40 5 level by The End of This year but still, the Target Level obviously singledigit inflation, which is not a very credible target in the eyes of the market as well as the household but still some 25 inflation looks doable by The End of 2026, perhaps. What we say is that the Monetary Policy has done its course. We now need to see the fiscal policy aligning with the tighter Monetary Policy, which is not the case. We need to see the Budget Spending being cut is not the case. We need to see the Budget Spending being cut down. ,. ,. ,. , down. ,. ,. ,. , down. There is still a lot of work to down. There is still a lot of work to down. There is still a lot of work to do down. There is still a lot of down. There is still a lot of work to do down. There is still a lot of work to do then. Down. There is still a lot of work to do then. In work to do then. Down. There is still a lot of work to do then. In down. There is still a lot of work to do then. In the work to do then. In the meantime, how are people and down. There is still a lot of work to do then. In the work to do then. In the meantime, how are people and businesses and households businesses and households coping with the high prices and coping with the high prices and also the very high cost of also the very high cost of borrowing . Borrowing . Also the very high cost of borrowin . ,. , borrowing . The Gdp Growth Ust turned negative i borrowing . The Gdp Growth Ust turned negative as i also the very high cost of borrowin . ,. , borrowing . The Gdp Growth Ust turned negative i borrowing . The Gdp Growth Ust turned negative as i borrowing . The Gdp Growth Ust turned negative as Offi Borrowing . The Gdp Growth Ust turned negative as of the H Borrowing . The Gdp Growth just turned negative as of the third l turned negative as of the third quarter of This year so people borrowing . The Gdp Growth Ust turned negative as Offi Borrowing . The Gdp Growth Ust turned negative as of the H Borrowing . The Gdp Growth just turned negative as of the third l turned negative as of the third quarter of This year so people are feeling the burden heavier are feeling the burden heavier compared to previous quarters, compared to previous quarters, where we had local elections in where we had local elections in the first quarter. Firms are the first quarter. Firms are struggling. We had the pmi struggling. We had the Pmi Figures at the start of This figures at the start of This week, we saw the manufacturing week, we saw the Manufacturing Sector shrinking rapidly, Sector Shrinking rapidly, shrinkage gAined pace. Weve shrinkage gAined pace. Weve seen the consumer debt, credit seen the consumer debt, Credit Card Debt being restructured by Card Debt being restructured by the government, so people are the government, so people are struggling both in the struggling both in the financing side, for the financing side, for the companies and households, what companies and households, what banks are doing. I5 companies and households, what banks are doing. Banks are doing. Is the president banks are doing. Is the president being banks are doing. Is the president being quite l banks are doing. Is the president being quite handsoff president being quite hands off when it comes to what the central bank does now . Prior to his re election, he was intervening all the time and forcing the we are talking about fashion, computer gaming, Film And Tv a sector that is growing at something like twice pace of the uk economy, but for many it can feel out of reach, with the proportion of Working Class Creatives more than halving since the 1970s. A new campAign is hoping to change that. Michelle rea is from the gatsby charitable foundation, who are encouraging young people to take a brand new creative T Level Course to get a foot in the door. Welcome to the programme. Do you explAin what a T Level is because thatS Part of the problem with these courses, people dont understand them. Exactly. The government launched T Level two and 2020 but its been a slow rollout. Does over 20 different subjects now but the latest T Levels include these fantastic new T Levels in the creative industries. We have got a Craft And DesignT Level, which allows for careers for everything from Jewellery Making to wardrobe assistant, fashion design. And also the media, Broadcast And ProductionT Level, which is all about film production, Sound Engineering and its employers have worked with the government in developing these T Levels. For example, the bbc itself waS Part of the panel that helped develop the media and production T Level. And these are vocational production T Level. And these are vocational courses. Production T Level. And these are vocational courses. So. Production T Level. And these l are vocational courses. So you take 80 level, start at 16 and level, start at 16 and end at 18 instead of doing a take 80 level, start at 16 and end at 18 instead of doing a levels but they are the levels but they are the equivalent, if you do well and equivalent, if you do well and come out with top grades, to come out with top grades, to three strong a level results, three strong a level results, meaning you can go to meaning you can go to university if you take a T University if you take a T Level. � ,. ,. ,. , level. � ,. ,. ,. , level. Absolutely, and we have two years level. Absolutely, and we have two years now level. Absolutely, and we have level. Absolutely, and we have two years level. Absolutely, and we have two years now level. Absolutely, and we have two years now worth level. Absolutely, and we have two years now worth of two years now worth level. Absolutely, and we have two years now worth of level. Absolutely, and we have l two years now worth of students level. Absolutely, and we have l two years now worth of students in different subjects who have in different subjects who have completed T Levels and gone on completed T Levels and gone on to a range of things. Some have to a range of things. Some have gone strAight into work, into gone strAight into work, into the areas they have studied or the areas they have studied or they have gone on to university they have gone on to university to do that. They have also done to do that. They have also done a lot of degree a lot of degree apprenticeships, which i think apprenticeships, which i think parents in particular are more parents in particular are more interested in. It interested in. It parents in particular are more interested in. Interested in. It is a lot cheaper. Interested in. It is a lot cheaper, you parents in particular are more interested in. Interested in. It is a lot cheaper. Interested in. It is a lot cheaper, you interested in. It is a lot cheaper, you dont interested in. It is a lot i cheaper, you dont come interested in. It is a lot cheaper, you dont come out of interested in. It is a lot cheaper, you dont interested in. It is a lot i cheaper, you dont come interested in. It is a lot cheaper, you dont come out of university with Tens Of Thousands of pounds of debt, university with Tens Of Thousands of pounds of debt, which is a blessing. In terms which is a blessing. In terms of how the T Level works, they of how the T Level works, they spend quite a bit of time in of time in work, dont they . Notjust in spend quite a bit of time in work, dont they . Notjust in the classroom, is that right . The classroom, is that right . Thats it. You spent 45 days of thats it. You spent 45 days of your time doing your T Level in industry and that is really where it comes into it. Particularly in these creative sectors because i think for a lot of parents in particular, they are worried about getting their foot in the door when it comes to these creative sectors. Comes to these creative sectors comes to these creative sectors. ,. , sectors. Sorry to interrupt you because we sectors. Sorry to interrupt you because we are sectors. Sorry to interrupt you because we are nearly sectors. Sorry to interrupt you because we are nearly out sectors. Sorry to interrupt you because we are nearly out of. Because we are nearly out of time. This is supposed to make it more inclusive and avAilable to everyone. IT Levels avAilable across the country or is itjust specialist colleges, the classroom, is that right . Tha complicated ant 45 days of the classroom, is that right . Tha complicated ant there, of it is complicated out there, let me tell you. That is really helpful. Thank you for your time today and i hope you have a good day. We will see you soon. Hello there. With high Pressure Building in across the country, it looks like the next couple of days for most of us should stay dry with a good deal of sunshine around, but nights will be chilly with some Mist And Fog to greet us in the morning. So the next few days then, largely settled. Some welcome dry and sunny weather for most of us. Here it is, our area of High Pressure pretty much dominating the scene right across the uk. Weve lost those Weather Fronts across the southeast. Could still just see the odd Light Shower towards East Anglia and the southeast, but most places will be dry. Lots of sunshine through the morning, a bit of fAir Weather Cloud bubbling up into the afternoon. That could just herald the odd Light Shower. But most places will be dry and the winds a lot lighter too. A little bit fresher through the channel, across devon and cornwall. Temperature wise, doing pretty well. It will feel very pleasant in the sunshine around 16 or 17 degrees in the south, mid teens further north. Now, as we move into thursday night, with clear skies, light winds, its going to turn quite chilly agAin, particularly across Scotland And England and wales. But the breeze, the cloud, outbreaks of rAin will start to push into the northwest of the country by The End of the night, so temperatures here recover into double figures. But agAin, further east, itll be chilly with A Touch Of Frost and some Mist And Fog to greet us first thing on friday. Friday, weve still got our area of High Pressure dominating the scene for most of us, but these Weather Fronts, low pressure starts to push into the north and the west. Thatll bring stronger southerly winds, more cloud for northern ireland, for Western Scotland, where well see some showery bursts of rAin. But Southern And Eastern Scotland and the majority of england and wales will have another fine and dry day, a good deal of sunshine into the afternoon. And agAin, with light winds, temperatures reach highs around 17, maybe 18 degrees, mid teens further north and west. Now, some changes as we head into the weekend. It does look like This area of low pressure begins to encroach into the north and the west of the country, so it turns wetter and windier here. Further east, though, it stays dry into the first part of the weekend too. Some of ThisAin-will-pep'>RAin Will Pep up across northern ireland, Western Scotland to become quite heavy into the afternoon. But eastern and Southern Scotland and the majority of england and wales agAin having another dry day on saturday, but some rAin will get into west wales, Southwest England later on with increasing breeze. Top temperatures, agAin, 17 or 18 degrees, mid teens further north. But the upcoming week does look more unsettled. It looks like This area of low pressure in the atlantic will win out. Itll bring showers or longer spells of rAin, but itll be on the mild side with milder nights to come too. Good morning, welcome to breakfast with Charlie Stayt and naga munchetty. Our headlines today. President biden has warned israel agAinst attacking iranian nuclear sites. Five more people were killed in the latest overnight israeli military Air-strike'>Air Strike on lebanon. A doctor in the us haS Pleaded guilty to charges relating to the death of the Friends Actor matthew perry. 100,000 newborn babies in england will be part of a genetic Code Screening Programme to speed up life saving treatments for rare illnesses. And well hear from the brothers who have run the length of britAin in a quest to rAise money to find a cure for the dementia that a rAiny September Driving shoppers away from the high street. A night to Rememberfor Aston away from the high street. A night to remember for Aston Villa in the champions league. A stunning strike from Jhon Duran sees them beat Bayern Munich in a repeat of the 1982 European Cup final. Some Mist And Fog around This morning particularly acrosS Parts of scotland. That will take its time to clear but most of us will be dry with some sunshine around, the odd share in the south east. Shower in the south east. Its thursday the 3rd of october. Our mAin story. Presidentjoe biden has sAid he would not support an israeli attack on irans nuclear sites, in retaliation for the barrage