Oil Prices Surge and stocks tumble as barrage of missiles in the Middle East prompts supply fears in a region that accounts for a third of global oil production. Us Trade Paralysis dockworkers threaten to continue striking for as long as necessary with ports along the East And Gulf coasts remaining shut for a second day. Also on the programme, could technology bring extinct species back to life . We speak to the boss of a De Extinction Company hoping to resurrect the Woolly Mammoth. Live from london, this is business today. Lets start with the Middle East, where, as weve been reporting, israel has warned of grave consequences after iran launched a barrage of missiles at targets across the country on tuesday. Oil prices have been surging as traders fear a full scale regional war could disrupt Energy Supplies to the global market. Brent crude rose as much as 5 to 75. 40 a barrel in intraday trading. Lets Take A Look at the latest Oil Price now. Up up1. 36 , up 1. 36 , 74 up1. 36 , 74 and
As much as 5 Billion each day according tojpmorgan analysts. Us retailers, automakers and other businesses now face Ballooning Freight rates ahead of the crucial festive shopping season. Large retailers have pulled forward imports of much of their Holiday Merchandise and made reservations with west Coast Ocean and Rail Carriers in hopes of avoiding any disruption. Lets speak to peter sand, chief analyst at xeneta, an Ocean Freight analytics firm. Hello to you. I know you have already calculated what this could mean if the Strike Action goes ahead, so do tell us more. A disruption like this always comes at a bad time for European Exporters into North America as well as North American exporters out of thE East Coast And Gulf coast. It will be impacted at first but this seems to be a first for almost 50 years, has the potential not only to lift Freight Rates higher due to the disruption from the strike, but certainly also to have wider implications, one or two months later down the road w
The trade implications. Scotlands only Oil Refinery is to close with a cost of 400 jobs the Unite Union calls it an act of industrial vandalism. And Credit Crunch why are so many Women Led bUsinesses cancelling Expansion Plans because they are unable to access finance . Well speak to one big bank trying to address that. Live from london, this is bUsiness today. Im mark lobel. The Aircraft Maker Boeing is awaiting news from its workforce on whether its accepted a four Year Pay Deal which could lead to a walkout of up to 33,000 workers. The deal 25 over four years has been backed by the workers iam union, but many employees are not happy with the terms. A result s expected very shortly and could lead to Strike Action in the coming hours. That would affect production of the companys 737 and 737 max aircraft. Heres our North America BUsiness correspondent ritika gupta. Breaking news on the subject. Boeing workers have voted to strike after rejecting a Pay Offer backed by their own union. T
Fasten your seatbelt packed 30 minutes coming up. As youve heard us President Biden meets russian counterpart Vladimir Putin in geneva today the first time as president s. Many are asking with Us Russia Relations at a low point will there be anything they can agree on . Russia recently included the us on its official list of unfriendly states and both sides describe relations as at rock bottom. All this Political Tension pours over into business with sanctions hindering meaningfull trade, commercial ties between the countries have also reached a low. Philip worman is Managing Director of gpw group, a Political Risk consulting firm. Good morning. Good morning. What do you good morning. Good morning. What do you think good morning. Good morning. What do you think may good morning. Good morning. What do you think may be what do you think may be achieved here, if anything, what do you think may be achieved here, ifanything, by these two meeting today . I think the first victory is that the
Fasten your seatbelt packed 30 minutes coming up. As youve heard us President Biden meets russian counterpart Vladimir Putin in geneva today the first time as president s. Many are asking with Us Russia Relations at a low point will there be anything they can agree on . Russia recently included the us on its official list of unfriendly states and both sides describe relations as at rock bottom. All this Political Tension pours over into business with sanctions hindering meaningfull trade, commercial ties between the countries have also reached a low. Philip worman is Managing Director of gpw group, a Political Risk consulting firm. Good morning. Good morning. What do you good morning. Good morning. What do you think good morning. Good morning. What do you think may good morning. Good morning. What do you think may be what do you think may be achieved here, if anything, what do you think may be achieved here, ifanything, by these two meeting today . I think the first victory is that the