they are expected to iron out the final details on the eu's artificial intelligence act. if it becomes eu law it will mark the first attempt in the world to police artificial intelligence. what should be in the bill has seen heated debate based on al's capacity to cause harm. european countries will be discussing possible concessions in negotiations on what's being called the ai rulebook. for more detail i'm joined by kirsten rulf, partner and associate director at boston consulting group. good morning to you. once again, the eu commission by parliament and council grappling with new technology, how to bring the law up—to—date with this. what are we expecting today? with this. what are we exectinu toda ? ., expecting today? good morning. i think we are _ expecting today? good morning. i think we are of _ expecting today? good morning. i think we are of a _ expecting today? good morning. i think we are of a political - i think we are of a political nailbiter. if we had this conversation yesterday morning i would have said there was almost no chance of disagreement going through but last night and all through the early hours of the morning, i hear people in the negotiations say it is still difficult but positions are converging and there actually could be an agreement on the ai act today. what keeps coming up in conversation that i am happy with global business leaders is that this uncertainty, the legal uncertainty, is actually symptomatic for the negotiations on the ai act in the last six months. it has been a rocky road until today. that uncertainty keeps businesses back from investing in the technology. two out of three global business leaders hesitate on discouraging using kennett river ai tools like chatgpt and other tools because of the legal uncertainty. if the negotiations do not fail today, the ai apps could indeed be a significant step towards regulating and policing ai. be a significant step towards regulating and policing al. the businesses need to plan going into 2020 for any legal uncertainty is making it very hard for them. fix, uncertainty is making it very hard for them.— hard for them. a lot of pressure _ hard for them. a lot of pressure on _ hard for them. a lot of pressure on those - hard for them. a lot of pressure on those in i hard for them. a lot of - pressure on those in brussels today to deliver on this. as you say, we could be very close to a result. how quickly will then become law? how long does this process take and businesses will have to get ready for this? it businesses will have to get ready for this?— ready for this? it takes a little while _ ready for this? it takes a little while after - ready for this? it takes a little while after an - ready for this? it takes a - little while after an agreement today because parliament and the council still need to vote on its formally. that will not happen until february because the period of european elections is coming up and then there will be a grace period where businesses will be expected to prepare for the legislation and the grace period was also part of the negotiations, how long it should be, 12 months up to 18 months was in the discussions. we will see where we end up here. there is still a bit of time for businesses to prepare was the vote is in. actually, most of them are preparing for it today because it has been in the discussion for so long. kirsten rulf, thank you so much, good to get your take on that. we will be keeping a close eye on any news out of brussels on that if they do reach agreement or not. well, let's now move on to the car industry. the financial times is reporting brussels will propose a three—year delay to tariffs that were due to hit electric vehicle sales between the uk and eu from 1january. european commission is expected to announce today that it supports the delay to the introduction of a 10% levy on cars with batteries made outside the uk and eu. this will come as a huge relief to car manufacturers across europe and it's something the uk government has been pushing forfor months. jane foley is head of fx strategy at rabobank. good to see you. we cannot stress enough, because i have spoken to the head of the motor manufacturers association and several other organisations in europe as well and they will be so relieved to hear this news, if it is confirmed today, won't they? if it is confirmed today, won't the ? , . , , they? they absolutely well. the reason for _ they? they absolutely well. the reason for that _ they? they absolutely well. the reason for that is _ they? they absolutely well. the reason for that is if _ they? they absolutely well. the reason for that is if this - they? they absolutely well. the reason for that is if this 1096 - reason for that is if this 10% tariff had come into force in early january, tariff had come into force in earlyjanuary, you could see the price of electric vehicles made in the eu but sold in the uk go up by maybe three and a half thousand pounds and a similar price hike for uk cars made in the eu. what they could have done is certainly in the uk markets, to mean that chinese cars look even more attractive and of course chinese electric vehicles already account for a substantial part of the market here. the problem here was the initial rule was designed to try to create more investment in the battery components in europe, particularly, but also in the uk and that investment has been too slow. that is why there has been a delay for three years and the hope that the battery investments will come online by then. fix, come online by then. a qualified majority of the 27 member states have got to be on board and agree to this three—year delay but germany is backing the idea and it said that 20 other governments are also in favour, so it is hoped — because it makes sense for all sides, — because it makes sense for allsides, doesn't — because it makes sense for all sides, doesn't it, for both europe and the uk to come to an agreement on this?— agreement on this? yes, certainly _ agreement on this? yes, certainly with _ agreement on this? yes, certainly with germany, | agreement on this? yes, - certainly with germany, very much on board, does seem as it will now go three. france had been one of the countries that was a big objector of initially of watering down this plan but they too seem to have now come around because of course they would lose market share in the uk. we need to remember that the uk is the biggest export market for cargo manufacturers in europe and now the race is on to see whether or not they can put some biggerfactories. there was talk of one in dunkirk for instance and another one of a volkswagen may in the uk there is a danger he and many report suggests that the uk is a bit behind on the investment in bigger factories and that is where the government really does need to come in and promote this in the next three years.— next three years. jane, thank ou so next three years. jane, thank you so much. _ next three years. jane, thank you so much, lovely- next three years. jane, thank you so much, lovely to - next three years. jane, thank you so much, lovely to see i next three years. jane, thank i you so much, lovely to see you. well, let's stay with the trade relationship between the uk and europe. britain's manufacturers are today calling on the government to continue working closely with the eu to make exporting easier and improve britain's trade and cooperation agreement with the eu. a new report from make uk out this morning says 90% of businesses are still dealing with increased challenges trading with the eu three years after the tca came into play. fhaheen khan is senior economist at make uk. just to explain to our viewers, you represent thousands of manufacturers in the uk. what have they been telling you? yes, looking at the cooperation agreements, three years since the inception, as you said, and nine in ten manufacturers continue face disruption and we are somewhat of things that are causing the barriers to growth in the report on things like customs paperwork and the cost of logistics and demonstrating laws of origin. these are the same three things that we actually saw nearly three years ago now when the tca was first introduced. on top of this, we have seen an exaggeration of new issues that manufacturers are not expected to see, which is the access of labour and skills which i become wise in that time. the ability to secure relationships with customers and suppliers in the european union, which is also become worse and the ability to send workers abroad, which has been a complete nightmare for many manufacturers.— many manufacturers. what response — many manufacturers. what response have _ many manufacturers. what response have you - many manufacturers. what response have you had - many manufacturers. whatl response have you had from many manufacturers. what - response have you had from the government on this? it is something you have been talking to them about really since the agreement came into place. yes. while we have _ agreement came into place. yes. while we have seen _ agreement came into place. yes. while we have seen some - while we have seen some progress from government in recent years, particularly in the windsor framework which reduce the frictions in trade between the goods travelling between the goods travelling between gb and northern ireland, and we had earlier this year have thinly extension of the indefinite extension of ce marking is being recognised for a selection of goods, we are seeing that we're not doing and that manufacturers, despite all the challenges, massively continue to favour trading with the eu even when they don't have to. 74% trade with the eu and so we need to do more to ensure that they are be supported because if they wish to trade with the eu, than there is no reason for us to get in the way. to there is no reason for us to get in the way.— there is no reason for us to get in the way. to what extent do ou get in the way. to what extent do you think — get in the way. to what extent do you think an _ get in the way. to what extent do you think an election - get in the way. to what extent. do you think an election coming soonin do you think an election coming soon in the uk plays into your hand on this? obviously the government is keen to fuel growth in the uk, manufacturers are really part of that. certainly. the election year does bring some identity for manufacturers because it will not be exactly how future negotiations or cooperation will proceed with the european union. from our perspective, and what members are telling us, is that in all cases around anything to do with aim data and semiconductors or chemicals in whatever issue that you wish to discuss with the eu, manufacturers overwhelmingly refer cooperation with the eu than they do in terms of competition.— than they do in terms of competition. than they do in terms of cometition. ., ,, ., competition. thank you for your time. senior _ competition. thank you for your time. senior economist - competition. thank you for your time. senior economist at - competition. thank you for your j time. senior economist at make uk. let's get some of the day's other news now. data out in the us overnight showed job openings fell to a more than 2.5—year low in october. this is seen as a sign higher interest rates are causing businesses to cut costs, including recruiting new workers. investors will be now be looking forward to the jobs report out on friday in the us for the month of november. adverts for air france, lufthansa, and etihad have been banned for misleading consumers about the airlines' environmental impact. air france's ad said it was "committed to protecting "the environment" and lufthansa urged passengers to "fly more "sustainably". etihad's ad used the words "environmental advocacy". the advertising standards authority said the ads did not show the impact airlines have on climate change. electric car maker nio has reported a quarterly loss. the chinese company also warned its revenues for the final three months of this year will be less than expected. nio was tipped as a rising star in china's ev market, but the firm is yet to post a profit, and is falling behind on targets. still to come: is the mediterranean diet under threat? we report from southern spain on how climate change is affecting a healthy kitchen staple — olive oil. around the world and across the uk, this is bbc news. you can buy the most social media, selling pages, and you would take them out on the water without any kind of instruction or skills. hitting the water as speed, it feels a concrete, so it is still dangerous and difficult out there to see people in the water, especially if you have a swim as close to the shore. essex police says educating the public about water safety before resorting to enforcement of the right impact. operation wave breaker has reduced the number of antisocial behaviour incidents on the coastline for 99 in 2020 down to just 37 at this year. the national college of policing has now adopted this as best practice for other marine units around the country to follow. ., ., , ., , to follow. for more stories from across _ to follow. for more stories from across the _ to follow. for more stories from across the uk, - to follow. for more stories from across the uk, head l to follow. for more stories | from across the uk, head to to follow. for more stories - from across the uk, head to the bbc news website. you from across the uk, head to the bbc news website.— bbc news website. you are live with bbc news. _ bbc news website. you are live with bbc news. we _ bbc news website. you are live with bbc news. we are - with bbc news. we are continuing with the business coverage and taking a look at china next. there has been a lot of concern about the outlook for the worlds second biggest economy and now the ratings agency moody's has slapped a downgrade warning on its credit rating. moody's says costs to bail out local governments, state firms, and the ongoing property crisis could weigh on the china's economy. monica miller is following the story from our asia business hub in singapore. yeah, they said one into investors a dead yeah, they said one into investors a dead as yeah, they said one into investors a dead as face yeah, they said one into investors a dead as face an economic slowdown that we have discussed on the show as well as well as a property crisis. some of the country's largest construction companies are facing insolvency and have stopped building, leaving some customers stranded. we had a report yesterday on that exact story. local governments have been borrowing billions of dollars to build up the infrastructure and they have been relying on land sales in order to fill that gap, but now they are also under strain. chyna's finance ministry has called on the decision and it says it is disappointing, than the economy would rebound eventually and the property crisis and local government debt worries are controllable. 0k, debt worries are controllable. ok, let's talk about nvidia now, the boss of the company is in the region. he has been making interesting comments about business in china. what has he been saying?— about business in china. what has he been saying? yes, he is in singapore — has he been saying? yes, he is in singapore today _ has he been saying? yes, he is in singapore today and - has he been saying? yes, he is in singapore today and this - has he been saying? yes, he is in singapore today and this is l in singapore today and this is a potential place to do business in light of the geopolitical tensions between the us and china. again, the semiconductor is using everything and high demand, using gaming, cryptocurrency, gaming, robotics, and ai. using gaming, cryptocurrency, gaming, robotics, and al. the california —based company last month had posted a physical third—quarter result that had surpassed wall street's expectations except they're looking at a negative impact when comes to the sales in china. so the company has now said it is in the process of investing these chips with these export bans. we have been talking on this type of technology. as is something in the pipeline. the company has made inroads in china, commands more than 90% of the share of chinese ai chip market. but they are really concerned that if they can't do business in china that chinese competitors are going to come on in and take that space.— take that space. 0k, interesting. - take that space. 0k, interesting. want. take that space. 0k, interesting. want to | take that space. 0k, - interesting. want to watch. take that space. ok, interesting. want to watch. see you soon. spain is the world's biggest producer of olive oil, providing around 70% of the oil consumed in the european union and nearly half of that consumed globally. but over the last year or so, its price has spiralled. this is having a major impact on both those who produce olive oil and those who consume it. guy hedgecoe reports from southern spain. this woman doesn't cook with olive oil as much as she used to because it is become so expensive, rising more than 70% so far this year and in many shops its price has more than doubled. translation: before, i a bottle cost around 3 or 4 euros, but now costs as much as 8 or 10 euros. i have to go from supermarket to supermarket, looking for the best offer. the rise in the price is closely linked to the quantity of olive oil being produced. in the southern provinces, the heartland of spanish olive oil production, the annual harvest is under way. but the mood among farmers is downbeat. translation: although the harvest has onlyjust begun, this year is turning out to be bad. i'm afraid it could be even worse than last year, which was poor. a lack of rain is the main cause of this low output. for this cooperative, which has the largest olive oil extraction factory in the world, it is a big worry. especially as climate change lengthens the dry summer season. translation: in order to grow the crop, we need water - and we have not had enough rain in the last year so because there is this product, the price goes up. the rise in the price of oil has hit countries across europe, including the uk. but it's been sharper in spain. in great part because demand is so high here, pushing prices up further when there is a shortage. olive oil is a staple of the famous mediterranean diet because of its much vaunted nutritional properties. but in recent months, consumption has dropped dramatically because it has become so expensive. experts warn that that is not just bad for the olive oil industry, it is also bad for people's health. translation: the rise in the price of olive oil. obviously means the people are consuming other, cheaper types of oil instead, but that is a mistake because the quantity of oil we recommend people consume is so small. with many areas of spain experiencing a long drought, both the supply and price of olive oil appear to be at the mercy of the weather. guy hedgecoe, bbc news, southern spain. the price of bitcoin briefly hit us$44,000 on tuesday. that's its highest level since april 2022. and it's quite a turn of fortunes for the cryptocurrency — which has more than doubled in value since the beginning of the year. here is more from erin delmore in new york. this is the highest level we have seen bitcoin claim to since april 2022 and a lot has happened since then. in may of 2022 a stablecoin grass and a shock to the system, losing investors tens of billions of dollars. a crypto winter followed when asset prices plummeted. then the collapse of the ftx cryptocurrency exchange in november 2022. ftx's founder, sam bankman—fried, was founder, sam bankman—fried, was found guilty of fraud and money laundering last month. also the ceo of binar�*s comedy was large cryptocurrency