Human tragedy there likely will be significant economic disruption and it is the policy makers ability to respond complicated by this world were living in with high inflation. In the past with conflict between israel and gaza are the central bank is often lowered Interest Rates but they havent been able to do that at they havent been able to do that at the moment because inflation is high so they have instead been focused on supporting their currency. Not beyond that there are broader global obligations i think the real concern is that the conflict missing now could escalate into stack to include iran which many have been reporting has been providing support and sympathy for the attacks. If iran gets dragged into a race this could have much more serious impacts on the Global Markets and pushed oil prices up even higher. Yes. The Global Markets and pushed oil prices up even higher. Prices up even higher. Yes, it is that contagion prices up even higher. Yes, it is that Contagion Effect prices up even higher. Yes, it is that Contagion Effect which prices up even higher. Yes, it is that Contagion Effect which has| prices up even higher. Yes, it is i that Contagion Effect which has got markets. Talking first of all about oil because it is the lifeblood of the World Economy and when there is nervousness about supply, when there is nervousness about supply, potential disruption to supply, supply, potential disruption to supply, prices start to go up. We are at about 80 a barrel by now. Where could this go . It is are at about 80 a barrel by now. Where could this go . Where could this go . It is very uncertain where could this go . It is very uncertain at where could this go . It is very uncertain at this where could this go . It is very uncertain at this stage. Where could this go . It is very uncertain at this stage. I where could this go . It is very uncertain at this stage. I think| where could this go . It is very i uncertain at this stage. I think if we think about how much oil might be affected, one of the key things to look at is that iran has been raising oil output quite significantly over the course of this year. The west is seen returning a blind eye despite sanctions. It is increased Oil Production by about £7 million a day, 7 of the Global Oil Market by about 7 Million Barrels a day. Possible saudi arabia and the rest of the gulf could come on line if other countries felt oil prices were rising too quickly. Talk other countries felt oil prices were rising too quickly. Rising too quickly. Talk to me. There are rising too quickly. Talk to me. There are political rising too quickly. Talk to me. | there are political ramifications here that are also relevant economically and one of courses that tentative deal with saudi arabia and the other is Domestic Politics within israel. Just explain why that could significant. I within israel. Just explain why that could significant. Could significant. I think the most imortant could significant. I think the most important one could significant. I think the most important one here could significant. I think the most important one here is could significant. I think the most important one here is this could significant. I think the most l important one here is this potential peace deal between israel and saudi arabia. Up until the events that started on saturday, it looked like this peach deal had been approaching and as part of this the saudi arabia receive Security Guarantees from the us and would receive the technology but to achieve this, and israel and saudi arabia would normalise relations, but a key part of this deal was that israel would provide some concessions to the palestinians. Now, it is very hard to see that happening in the current circumstances. It looks like this deal will be on hold for quite a while until this conflict has ended. Yes and interestingly, as well, that is the saudi deal. Domestic politics also looking quite interesting as far as what it could mean for the current Israeli Administration and just explain the significance of that, particularly when it comes to security concerns. 50. That, particularly when it comes to security concerns. That, particularly when it comes to security concerns. So, these events are bein security concerns. So, these events are being perceived security concerns. So, these events are being perceived as security concerns. So, these events are being perceived as an are being perceived as an Intelligence Failure in israel. There appears to be some concern about how this attack was able to happen given the technology that had been used to protect israel and this comes in the backdrop to which we have a quite Fragile Coalition government with a small majority and had tried to banish Security Credentials which may be undermined and it remains unclear how Domestic Politics could develop. It might be the government finds it difficult to continue and there has been talk of a National Unity government. Current Coalition Government could find it difficult to continue. Equally, conflict in gaza could provide more support for the current government as people seek to support that and dont seek change the political structure. Political structure. Good to get our political structure. Good to get your thoughts. Political structure. Good to get your thoughts, william political structure. Good to get| your thoughts, william jackson, Chief Emerging Markets Economist at capital economics. We are seeing that brighton now live in gaza. It is worth flagging they are so many potential repercussions of this, not least for travel. Prices having an impact on the Aviation Sector and several airlines having cancelled flights to and from israel because of Safety Concerns including lufthansa and american airlines. Transport correspondent Katie Allston says this is all about safety, isnt it . Some flights are still operating into and out of israel so for people who do wish to leave you can get a flight out if you can book a seat. Then. Airport near tel aviv is open but regulators in the us and europe have urged airlines use caution. Among those still flying from tel aviv are israels national carrier, turkish airlines, a number of regional carriers and the likes of regional carriers and the likes of virgin atlantic. Virgin atlantic is still flying but with some delays and cancellations and we see the flying programme remains under review. British airlines is likely still operating its daily flights between heathrow and tel aviv but it says it has moved the time in my understanding is that its in the crew dont need to stay overnight in israel. In this fairly substantial list Major Airlines have suspended their programmes to and from israel. For example, wizz air, united airlines, air france and lufthansa. That, look under afternoon has extended its suspension to saturday. Love tanvir this afternoon. Ryanair is well has been flying but has had to cancel a small number of flights are operational regions. All airlines keeping a close eye on developments assessing the security is whether they were operationally involved in this particular attack, and following that Wall Streetjournal report that you referenced, it seems that at least the iranian diplomatic arm in the United Nations has come out with a statement denying that they were at all involved, saying the decision was entirely of course this moving quite quickly and monitoring events very closely and just brings up to date on that suspected Terror Threat from to van which happened in hamburg. What we know . We saw flights paused to and from Hamburg Airport for a time earlier this afternoon and this was after six suspected Terror Threat on the plane from tehran. This was Police Actually received an e mail this morning about a possible terror attack. They search the aircraft. It did land in hamburg late morning. Theres been no information released, though, about whether anything was fined in the searches, whether that threat was genuine but, obviously, it was taken very seriously by police at the time and after the threat of a German Air Force met the civilian plane as it entered german airspace and accompanied it to the landing in hamburg. So still unclear exactly what the threat was or whether but it was taken recently by police and now flights have resumed to from hamburg. Lets cross live now to our transport correspondent katy austin. Look see Lockheed Martin and exxonmobil are up for example. Well see impact having see the day but it is important to note this is roughly in line with what saying and of the geopolitical conflicts in the middle east, stocks down, oil up. Depending right now what happens in the weeks and months ahead. Whether this is a contained conflict or whether it broadened into it escalating crisis that could have an impact on Global Markets. ,. ,. , , markets. Stocks down, oil up is the markets. Stocks down, oil up is the market isnt markets. Stocks down, oil up is the market isnt it . Markets. Stocks down, oil up is the market isnt it . Markets. Stocks down, oil up is the market isnt it . Is markets. Stocks down, oil up is the market isnt it . Is always markets. Stocks down, oil up is the market isnt it . Is always the market isnt it . Is always the mantra, isnt it . And is a flight to safety. In mantra, isnt it . And is a flight to safe. ,. ,. , safety. In times of Uncertainty Investors go safety. In times of Uncertainty Investors go to safety. In times of Uncertainty Investors go to safe safety. In times of Uncertainty Investors go to safe havens i safety. In times of uncertainty. Investors go to safe havens which could take a couple of different formats including currencies and in fact we are seeing the dollar gaining as well as the swiss franc. We also see investors flock to Precious Metals and gold is when we are looking at today and we see investors look towards treasuries but i have to know today as a Public Holiday in the us and so the Treasury Market is closed. But to talk to you Treasury Market is closed. But to talk to you i Treasury Market is closed. But to talk to you. I know Treasury Market is closed. But to talk to you. I know youre Treasury Market is closed. But to talk to you. I know youre going l Treasury Market is closed. But to | talk to you. I know youre going to stay right across that. Those are the figures in asia under the night that has rated to be to a weaker open certainly in europe and as everyone was telling us that they will be a lot of nervousness as trade gets under way in the united states. We are going to stay right a custom elements as you would expect of the ongoing conflict now in israel and gaza but in the meantime israel and gaza but in the meantime ijust want to israel and gaza but in the meantime i just want to bring israel and gaza but in the meantime ijust want to bring up to date with a few other Business Stories that we should follow and shares have surged in the uk with high Street Lender met to a bank that struck the deal with investors it says would secure its future. In a statement, uk lender said it would raise 325 million in new funding as well as well as refinancing 600 million worth of debt. It sponsors the deal marks a new chapter for the worth of debt. It sponsors the deal marks a new chapterfor the its boss says the deal marks a new chapter for the troubled lender. German economy shows Industrial Output has run for the fourth year in a row. The latest numbers out from germany, europes largest economy, show that Industrial Output has shrunk for the fourth month in a row with Industrial Production down by 0. 2 in august slightly more than some predicted. As germanys manufacturing sector, which accounts for about a fifth of its economy, is effected by high Interest Rates and falling demand. In stockholm, the Nobel Prize For Economics has been awarded to an american economist, claudia goldin, for her work on understanding the role of women in the labour market. The 77 year old harvard professor is just the third woman to have been awarded the prize. Amongst other findings of Professor Goldin is that womens Career Outcomes are often defined by educational decisions made at a very young age. Congratulations to her on that. We showed you quickly what markets were looking at and let me just show you at this stage how europe is faring right now. You might get a sense they are struggling for any sort of real direction right now and like many people, just looking at events in the middle east trying to work out what is going on and how long that could go on for and what are the wider geopolitical implications. We discussed at the start of the programme that there were some issues around a potential deal with saudi arabia and of course that the worlds biggest share of oil but also iran. Tensions are nervousness about the supply of oil pushes up the price. America, as wejust heard, opening with a little nervousness, too. We will keep an eye on how that fares and it does often feel a bit faster talk about numbers at a time like this but it gives you a sense ofjust how nervous investors are right around the world. You are up to date. Continuing coverage here on bbc news. Bbc news bringing you different stories from across the uk. 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It is really a celebration of trees and i called arbour. It is really a i celebration of trees and what called arbour. It is really a celebration of trees and what trees give us and how they inspirer is, how they shelter us, holy feeders. Mike crazy to a person . How they inspire us, how they shelter us, how they feeders. My crazy tree person . Yes. How they feed us. Am i a crazy tree person . Yes. Thanks for being with a seven bbc news. We want to take you straight to live pictures were getting from lebanon where there have been concerns that they conflicts between hamas and israel would widen further and what you are seeing a smoke in the air after and what you are seeing a smoke in the airafteran and what you are seeing a smoke in the air after an Israeli Attack on lebanese territory so this is israel shelling lebanon. We have seen small scale attacks launched from Southern Lebanon into israel in the past few days, a number of armed men crossing the border that were killed Ijy Crossing The Border that were killed by israeli troops in the idf, the Israeli Defence false has said they have Helicopter Gunships there that we