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a lot of the hazard gazprom with a story that gazprom -- a lot of it has to do with a story that gazprom has halted its. transmission of gas. . for now that is the macro picture. >> when it comes to individual movers, we did see investors shy away from technology, a case worth highlighting rod calm that is still up today after better than expected results last night, has come off its highs of the day. you talked about broader energy, occasions, oil is having an update helping names like halliburton. investors going back towards gold has helped barrett today, you have an earnings story with lululemon showing its pricing power in an inflationary environment. leading the nasdaq 100 right now with a gain of 6.5%. >> u.s. employers adding more jobs in august, more people entering the workforce, the payroll growing a better 315,000 jobs last month. the jumper dissipation rate climbing, let's bring in the bloomberg international economics and policy correspondent. i went through those numbers, what was the most important one there? >> it is the participation rate, it shows a lot more people com

gazprom tonight? it is a serious i development. gazprom is tonight? it is a serious - development. gazprom is run tonight? it is a serious _ development. gazprom is run and owned by the russian government, and it says that the gas supply has been fully shut down after it was shut for maintenance. let me show you a map of the pipeline, and you will see it connect is essentially germany with russia. it is a symbol of germans' traditional dependence on russian gas, a0%, up until a few months ago. the russians claim to have found leaks in the maintenance, it was due to stop tomorrow, but many in the markets and amongst the diplomats think this is a predictable escalation of an attempt essentially to blackmail europe over supplies. the timing does seem questionable. earlier today g7 finance ministers including nadhim zahawi, the uk chancellor, agreed to cap the price we pay for russian oil, the world will pay for russian oil, the world will pay for russian oil, and this seems to have an element of tit—for—tat, very serious because even during the height of the cold war, those gas su

"gazprom's move is sadly no surprise. "use of gas as a weapon will not change the resolve of the eu." ..before going on to say: "we will accelerate our path towards energy independence. "our duty is to protect our citizens and support the freedom of ukraine." the bbc�*s economics editor faisal islam explained more about what russian gas giant gazprom has been saying. it announced that this key artery for european gas supply "has been fully shut down" after it was shut for maintenance. let me show you a map of the pipeline — and you'll see it essentially connects germany with russia, it's a symbol of germans' traditional dependence on russian gas, a0%, up until a few months ago. and the russians claim to have found leaks in this maintenance which was due to start tomorrow, but many in the markets and in amongst the diplomats think this is a predictable escalation of an attempt to essentially blackmail europe over supplies. the timing does seem rather questionable — earlier today, g7 finance ministers, including nadhi

it does feel like a soviet bot sometimes, but this is the elected leak that gazprom put out. could we have prepared better for this? does it mean we are going to get zombie companies, households or business going under that we should worry about? wei: even as we head into recession, we're not looking at a balance sheet recession. if you look at corporate some households, things are not as that as they were during the global financial crisis. we are still looking at a preference for credit over equity, we're still invested. we're not expecting mass default , for example. there are still ways to stay invested. to your point about what we have been better prepared, i would note as we head into winter, the capacity has been increasing. economies have been preparing for energy constraint and the prospect of rationing. but compared to the beginning of the year, this is close to the worst outcome. so as we head to the rest of the year, underweight equity feels appropriate at this moment. tom: christine, the ftse 100 currently down .9%. we will find out who our next prime minister is

gazprom pipeline news having an effect on the markets broadly and brian sullivan has his finger on gazprom. >> when you are on the verge of an all-out energy price war. this is what you will get, the market's on edge gazprom which shut town the nord stream pipeline for three days for, quote, maintenance now saying that the pipeline is going to be shut down indefinitely there are a few other smaller pipes that are cut back on, as well germany is ahead of schedule for the storage for the winter and remember, their storage levels continued with continued pipeline flows and norway is helping out and this is a big blow russia responding and the news happening a couple of hours ago and the united states exploring a price gap on russian oil and energy prices are too high this will be the tool in the tool box to help fight energy price spikes given the war others disagree. i want to remind our audience that back in july, j.p. morgan chase came out with an analyst note and suggested that if there was a price cap and russia responds by taking barrels off the market that they had another $380 a barre

the russian energy giant gazprom says it has scrapped plans to reopen a key gas pipeline to europe. the company claims it can't restart nordstream one because of an oil leak in a turbine, and that it will remain closed for an indefinite period. that will have implications for europe's energy supply this winter. the pipeline has already been completely shut for three days. moscow denies weaponising energy supplies in retaliation for western sanctions. but that's not how the move has been seen in european capitals, the president of the european council took to twitter to express his disapointment. charles michel said... he went on to say... the bbc�*s economics editor faisal islam explained more about what russian gas giant gazprom has been saying. it announced that this key artery for european gas supply "has been fully shut down" after it was shut for maintenance. let me show you a map of the pipeline — and you'll see it essentially connects germany with russia, it's a symbol of germans�* traditional dependence on russian gas, a0%, up until a few months ago. and the russians c

gazprom says it's detected an oil leak in a turbine on the nord stream one pipeline, meaning it will remain closed for an indefinite period. the pipeline has already been completely shut for three days for what gazprom described as maintenance work. moscow denies weaponising energy supplies in retaliation for western sanctions. russia's move to keep the nordstream pipeline closed may — or may not — be linked to a decision by the g7 group of the world's leading democracies to put a cap on how much they pay for russian oil, in a bid to hit moscow's ability to finance the war in ukraine. the price of oil has risen sharply since the invasion, meaning its revenues have gone up even as some countries cut back on the amount of russian oil they import. the cap will be imposed in coordination with the european union. russia has warned it will not sell its oil to any country where the cap is imposed. earlier, i spoke to the energy expert and ceo of the business consultancy firm the mrl corporation, cornelia meyer. she began by explaining more about the price cap. on one hand, what you see,

the headline that crossed about an hour ago that gazprom will keep nord stream shut his another blow to europe. we know the ecb next week will hike anywhere between 50 and 75 basis points, and we've been told not just by fed chair jay powell but also by ecb officials that they are willing to tolerate a recession and carry on hiking. you might expect this from the german central bank -- night -- you might not expect this from the german central bank but you heard the same thing from them last week. there are other forces at play here. how are you interpreting them? george: 100%. that is the point. this elevated uncertainty and the global rates phenomenon. there are things outside of the control of the ecb as well in terms of gas production and supply. this might not be the same market as the fed, but they still have to show conviction as to getting inflation under control and actually getting it to turn around and head lower, and we don't have evidence of that. it might not be until next year, and that's a long time waiting. september could be a volatile month for a lot of reasons. i

russian state energy firm gazprom said it had found an oil leak in a turbine on nord stream 1, meaning it would be closed indefinitely. the pipeline has been shut down for the past three days for what gazprom described as maintenance work. the news is likely to put further pressure on gas prices — amid fears that families across europe will not be able to afford the cost of heating this winter. well earlier i spoke to economist claus vistesen about the impact that closing the pipeline would have on the uk and europe. normally in winter, the uk imports gas. as you can imagine, that is going to be very difficult this year, at least at the same rate because that is going to be a hoarding of gas in europe. europe is m as hoarding of gas in europe. europe is my gas market _ hoarding of gas in europe. europe is my gas market is — hoarding of gas in europe. europe is my gas market is going _ hoarding of gas in europe. europe is my gas market is going to _ hoarding of gas in europe. europe is my gas market is going to be - hoarding of gas in europe. europe is my gas market is going to be l

gazprom states it needs to make more repairs before supplies resume. >>> and the u.s. futures also trade higher after the long weekend break. >>> investors drive into volkswagon shares after the automaker will spin off porsche as soon as this month with the unit set to be valued at 85 billion euro >>> liz truss prepares to take the keys to number 10 as the next prime minister and she will need to hit the ground running with the energy crisis in a farewell message, per predecessor seeks to assure the population >> we have and will continue to have that economic strength to give people the cash they need to get through this energy crisis >>> european markets mixed trade this morning overall, we are trading higher we have the dax stabilizing after under performing yesterday. the main benchmark fall back the important thing to note is we saw the european benchmark pull back yesterday, but we did bounce off the lows pairing off the steep losses to only close 0.6% lower the dax was the under performer. you are seeing bounce back there. resilience in the swiss market ftse 100

we see what we get with gazprom over the weekend. the bank of thailand governor is speaking this hour and he is talking more about inflation. it may be high in september and october and inflation expectations in the long-term are still in target. inflation may return to below 3% by the middle of next year. high inflation is not as worrisome as in some other nations, so dovish comments coming from there. david: we are going to get it intraday and europe is at about 10%. this goes into where you have all the commodity prices. have a look at where we are in brent, and other nat gas. we have some special measures ahead of that to rein in these energy costs. maybe gas price caps and also may be some tweaks to derivatives trading in the power market. let's throw in the kitchen sink, kind of energy crisis. yvonne: let's bring in andrew james. what are we expecting from the eu? andrew: as david was mentioning, a bunch of things are being considered. they're looking at capping the price of natural gas and also looking at a price ceiling on na

the russian energy giant gazprom says its key gas pipeline to europe will remain closed indefinitely due to an oil leak in a turbine. the turbine maker, siemens energy, said this was not a technical reason to stop pumping gas. a sri lankan official says the former president, gotabaya rajapaksa, who fled abroad after mass protests injuly, has returned to colombo. sri lankans blame his government for the island's economic crisis. nasa is preparing the second launch of its most powerful rocket in 50 years. technical problems and bad weather thwarted the artemis 1 moon mission lift—off on monday and engineers have spent the week reviewing data to find out what went wrong. hopes are high that saturday's take—off will be trouble—free and the 37—day mission to the moon can get under way. speaking of reaching for the stars... the handwritten lyrics to david bowie's starman are going up for auction later this month. the track was initially released in 1972 and was a part of the hit album the rise and fall of ziggy stardust and the spiders from mars. let's have a quick reminder of the

both former executives from gazprom or a subsidiary. both said to have killed their wife and daughter and then themselves. in their moscow home and another in their spanish villa. finally in july, the director of another subsidiary was found dead in his cottage's swimming pool, local media reported. a gunshot wound to the head and a pistol nearby. maganov is not lukoil's first lost this year. top executive found dead in the basement from an apparent heart attack. some experts doubt, however, thes deaths bear the kremlin's suicide. >> these people are in industries where they've gotten used to an elevated quality of life and they know hard times are coming. at the same time there's been something of a resurgence of a very 1990s phenomenon, which is business disputes being resolved by violence and by murder. >> reporter: perhaps a subtler hand here than in the anarchy of the '90s. yet in a world where the kremlin rules and ruins at will. nick paton walsh, cnn, london. good thing adding lysol laundry sanitizerr kills s 99.9% of bacteria th

the pipeline was initially shut for what gazprom described as maintenance work. the extended closure is likely to put further pressure on gas prices. already it's feared that people across europe will not be able to afford the cost of heating this winter. our correspondentjessica parker in brussels explained the anxiety being faced in the eu. well, look, every day that there is less gas flowing into europe, the greater the squeeze on supply that threatens to hit people's pockets, the economy as well, notjust here but in the uk as well. now, the russian pipeline operator has said it is an oil leak that has led to this prolonged closure. they do not believe that here, and they weren't taken by surprise by last night's announcement. eu countries have spent summer trying to build up their gas reserves but i think the last 2a hours, there really has been an added sense of urgency, governments looking at ways to try and protect people, protect businesses from the worst effects of this energy crisis. energy ministers are meeting here in brussels next week to look at ide

that's according to the ceo of german gas giant uniper who warned with a broken relationship with gazprom after russia suspended supply to europe indefinitely in response to economic sanctions. adding fuel to the fire opec will cut production by 100,000 barrels a day just one month after it pledged to increase production by the same amount. let's talk about it with chris wright, he is the ceo of liberty energy to discuss the european escalating crisis around energy. chris, to many this is clearly an indication that russia is seeking to force europe to lift economic measures. the question is will it work do you think the europeans will cave in. >> i don't know if they'll cave. i think the temptation will be strong the cutting of the gas on nord stream 1 is just a massive move. natural gas is the largest source of electricity in europe by a fair margin it's the dominant fuel for industry and home heating, and via fertilizer, it's the most important ingredient for agriculture. this is a significant threat to society in europe. it's going to be a rough winter. >> and what does this mean for t

gazprom says it's detected an oil leak in a turbine on the nord stream 0ne pipeline, meaning it will remain closed for an indefinite period. the pipeline has already been completely shut down for three days for what gazprom described as maintenance work. moscow denies weaponising energy supplies in retaliation for western sanctions. i'm joined now by energy expert and ceo of the business consultancy firm the mrl corporation, cornelia meyer. thank you very much for being with us on bbc news. can i ask you first of all what do you make of this announcement that has come in the last couple of hours? not altogether surprising, perhaps. ida. last couple of hours? not altogether surprising, perhaps.— surprising, perhaps. no, it is not altogether— surprising, perhaps. no, it is not altogether surprising. _ surprising, perhaps. no, it is not altogether surprising. i - surprising, perhaps. no, it is not altogether surprising. i thought i altogether surprising. i thought when i saw the press release that russia would in some way or the other respond. nerd stream one was the obvious. it was

and another top gazprom executive, alexander -- was found dead in his garage there. then there were two murder-suicides in april, both former executives from gazprom or a subsidiary, both said to have killed their wife and daughter and then themselves. one in his moscow home, and the other in a spanish villa. finally in july, the director of another subsidiary was found dead in his cottage's swimming pool, a gunshot wound to the head and a pistol nearby. this is not the first loss this year. a former top manager of the company found dead in a basement found dead in a basement from an apartment heart attack. some experts doubt, however, these deaths bear the kremlin's fingerprints. >> people do commit suicide, especially when they got used to a elevated quality of life and they know hard times are coming. and there's a great resurgence of the 1990s phenomenon which is business disputes being resolved by violence and murder. >> reporter: yet, in a world where the kremlin rules and ruins at will. now, some have pointed out the kremlin is very blunt and subservient law e

gazprom says it can no longer give a timeline to restart the nord stream pipeline after find a leak brian sullivan joins us with the latest maybe a bit on what we can believe and maybe not believe. >> yeah, i'll be interested to hear what tom kloza has to say germany has said this is a lie, there is no issue with the pipeline i'll make a prediction and editorialize just a bit. you'll see the term "energy war" a lot this weekend in many papers there's this talk of this oil price cap, the g-7 including the u.s. and janet yellen coming out saying we are seriously exploring the idea of a price cap on russian oil nothing institutioned yet, not a mention of price or how, but they're talking about it russia has said in the past if there's a price cap, we will retaliate. it looks like this nord stream may be the first sign of retaliation. this is with natural gas, not with oil zero flows through the nord stream germany's storage level is okay but the storage level depends on continued flow from pipe line. they have never tried to just exist on storage levels alone along with u.s. and norwegian im

the story of the weekend is that you can see the special emergency intervention measures because gazprom is a political move, not opening up the key pipeline. kathleen: it is not a complete surprise, europe has been hunkering down for this for some time, hoping it would not happen. the powerpoint caring so much of their energy, natural gas is a that they depend on very heavily. the question is what next? rationing? millions of dollars to businesses, households, to help them pay those bills. german officials say they have enough supply and there will be able to take care of this and get through the winter even if it is cold. the president of the federal network energy regulator warned that even with gas storage and 95% and there would be enough for 2.5 months of demand. german storage only stands at 85%, we quote a professor from the international energy at sciences in paris and he says the eu is in red zone as further demand disruption needs to take place. they have to have people use less. how are they going to do that? it is quite a tough position and a dark cloud hanging over the ecb.

the pipeline, called nord stream 1, has been shut for the last three days for what gazprom described as maintenance work. there are fears people across europe won't be able to afford the cost of heating this winter. claus vistesen is from pantheon macroeconomics . here's his assessment of the impact of closing the pipeline. uk's big problem is that normally in winter the uk imports gas from the continent due to low domestic storage. and as you can imagine, that's going to be very difficult this year, at least at the same rate because, you know, there's going to be hoarding of gas in europe. i mean, basically, europe's gas markets this year is going to be a little bit like the hunger games. everyone's going to want as much gas as possible to make sure that they avoid rationing. the eu will probably try to mitigate that on the continent and to some extent there will be cooperation. but the uk will find it difficult, i think, to import as much gas as it normally does during winter. which means that even though the direct dependence in the uk on russian gas is very small, 5%, you know, t

gas prices are higher this morning as gazprom warned the last permitting gas route to western europe is at risk of closure. deutsche bank is drawing up plans to deal with risks as tensions between the two largest economies escalate over taiwan. in an exclusive interview, the ceo said volatility is here to stay. >> we hope there is no conflict over taiwan. i think in particular europe, in particular germany, needs to work with both. laura: apple is backing off plans to increase production of its new iphone after anticipated demand failed to materialize. they are holding off ramping up output by 6 million units, apple is now aiming 90 million handsets in the period roughly the same as last year. phil mickelson and other top gulf players are withdrawing from an antitrust lawsuit against pga tour for taking part in saudi arabian rival liv golf. mickelson said the liv is now suing the pga itself. francine: coming up, the irish government agrees on a budget package totaling 11 billion euros for 2023, including measures to tackle the cost of living crisis. that's coming up next. this is blo

the pipeline was initially shut for what gazprom described as maintenance work. the extended closure is likely to put further pressure on gas prices — already it's feared that people across europe will not be able to afford the cost of heating this winter. will kennedy is executive editor for energy at bloomberg. he says this move will speed up the energy crisis in europe. it is worth saying that the pipeline was operating at vastly reduced levels already. it can carry about a third of russia's usual gas supply to europe but it was operating at just 20% of what it should be. but that 20% was useful to fill up gas storage before winter and now that is not going to happen, so it is going to be harder to fill up our gas storage, it is going to raise the risk of energy shortages this winter, and it really sharpens the dilemma for european politicians as they plan for what could be a very difficult situation over the next few months. we have reduced gas consumption, and although it is worth saying that has come at the expense of closing many factories, high—energy

the russian energy giant gazprom says it has scrapped plans to reopen a key gas pipeline to europe. the company claims it can't restart nord stream 1 because of an oil leak in a turbine, which will have implications for europe's energy supply this winter. newswatch is here in about 10 minutes. now on bbc news, click. you're back, we're back, everybody is back, august, so was the edinburgh festival, the world —famous celebration of the arts that takes over the city the whole month. it's a melting pot of theatre, music, dance and opera, and on the side, as its name suggests, is the edinburgh fringe. please, neverspeak to me again... laughter. filled with experimental performance, innovative shows and — my favourite — comedy. one of the beautiful things about the fringe is that it takes over loads of venues in the city, including this one — the university of edinburgh's old medical school. and before we get stuck into the comedy, we are going to talk about medicine — specifically medical waiting times. now, if you're waiting for surgery, it can feel like an eternity and we al

. —— gazprom. isuppose gas from and how much they relied on russia. —— gazprom. i suppose it's like an auction. but at the end of the day, generators are making a whopping great profit. there should be some way of actually sorting that out. which ros came up with earlier. one other thing, starmer is... labour party might be asking narrowly more popular. well, of course we _ narrowly more popular. well, of course we don't _ narrowly more popular. well, of course we don't have _ narrowly more popular. well, of course we don't have a - narrowly more popular. well, of course we don't have a new - narrowly more popular. well, of. course we don't have a new prime minister— course we don't have a new prime minister yet, course we don't have a new prime ministeryet, but course we don't have a new prime minister yet, but certainly in terms of energy. — minister yet, but certainly in terms of energy, the problem is that this market— of energy, the problem is that this market is— of energy, the problem is that this market is broken. what i believe the government sho

have you cut your tiles to gazprom and vitol? >> and we've been working on russia-- >> you have not cut your ties, let' move on. a number of banks said you're going to cut investment in new coal-fired electric plants. i'll go down-- the question though, are you going to finance crypto mining which creates electricity that is is then wasted in something that doesn't keep anybody's lights on and doesn't cook anybody's food? i'll go, let's go to those, ms. fraser, are you going to be financing crypto mining. >> i do not believe so. >> mr. moynihan? >> we do not have any. >> and mr. sharp? >> i'm not aware of anything like that. >> finally, capital markets question, we have limits on margin lending designed to protect the lender, in this case the lender is you and you're systematically important to you, and designed to protect lending and protect the capital markets. that's why in equity lending one-to-one margin. but the total default swap is a loophole that allowed argos to get 9 to 1 margins. can you commit now to that we provide

let's get to the top story gazprom has stopped flows from nord stream 1 until further notice raising fears of a crisis hours after g7 prices capped prices flows were due to resume saturday morning after they were halted for what was described as scheduled maintenance. gazprom says it needs to be shutdown while a turbine leak is repaired something that siemens energy denies >> we are having the reaction now in europe. a bank holiday in the u.s. the bulk of reaction is witnessed across the european forces as we have talked about this, when european economists put together the forecast, the worst case scenario is a full cutoff from russian gas this is it this is the situation that europe finds itself in today the reaction, of course, as you imagine, has been negative across the board starting with germany in the eye of the storm the dax is down 3.1% today more and more companies in germany say because of rising energy costs, they have to cut production this is going to have huge ramifications on an economy that is reliant on manufacturing and industry dax is suffering the most because o

they say gazprom is a company that can be lied on and europe relied on them for a long time. we're talking about the nord stream 1 pipeline. they had been sending 20% capacity through and there were three days of maintenance that the russians said were out of schedule. afterwards they claim that in one of the pumping stations, the port avilla station, there was an oil leagk there and it will e shut down. all of these reasons are down to europe. it's the sanctions you have to not put on actual russian oil and gas but put on technological sectors. the maintenance are the reason why this cannot be used at this point in time. siemens says they are easy to fix and they can work when there is leakage going on. gazprom has said the things that have been inflicted on europe, the issues they have now economically, so little energy in europe and a drive for energy is down to european sanctions themselves. they say this is self-inflicted. vladimir putin is heading to the eastern economic forum. they blanl the europeans themselves. >> fred in moscow, thank you very much indeed for that.

the operators state gazprom had been set to resume operations on saturday after three days of scheduled maintenance. the news sent the price of natural gas surging yesterday. it has come down a bit and still off the highs that we saw in late august. amid the shutdown, eu leaders are drafting plans for new caps on wholesale gas prices and as geoff cutmore referred to, incoming prime minister liz truss is preparing her plan to freeze energy bills. caps are due to surge 80% in the next month it is not just russia, opec and allies, including russia, agreed yesterday to slash oil production by 100,000 barrels e prices the cut which is a surprise to many in the energy space, accounts for .10% of global demand saudi arabia last month flagged the possibility of opec cuts to address what it sees as exaggerated oil price movement we will have more on both of the stories later on in the hour >>> let's get to a few of the other top stories. bertha coombs is here. good morning good to see you. >> good morning, courtney. shares of the most widely held chinese tech stocks falling over the weekend as b

russian state energy firm gazprom said it had found an oil leak in a turbine on nord stream 1, meaning it would be closed indefinitely. the pipeline has been shut down for the past three days for what gazprom described as maintenance work. the news is likely to put further pressure on gas prices — amid fears that families across europe will not be able to afford the cost of heating this winter. will kennedy, executive editor for energy at bloomberg, says the closure could see an uptick in gas prices when the markets reopen on monday. i think there is a lot of scepticism about the reasons they have kept this pipeline closed. they are saying this oil leak means the turbine is not safe, but interestingly, siemens, the european energy company that typically services pipelines and turbines says there is no reason why this issue would force them not to operate the pipeline. other turbines they could use on the pipeline, and in fact, if they needed to, there are other pipelines they could use so i think people in europe are very sceptical about this reason and they see gamesmanship and poli

and there's a view within the industry that this move by gazprom is potentially a temporary move, and it'sjust another step in the ongoing gas war between russia and its european customers. once that gas card has been played, it can't really be played again. so it's possible that this so—called technical issue could be resolved quite quickly. siemens, the turbine manufacturer, has said that this type of oil leak isn't actually a barrier to the turbine being used. so it seems that this is a political move rather than a physical, technical one. and if the flows were to be restored, then the price reaction would would go back to how we might see prices rising in the next few days, but they could go back down to normal, not normal, but the new normal in recent times in terms of the impact on consumers here in britain. this is all to do with the way this ofgem calculates the price cap. the prices that are happening in the market now will define what happens injanuary when the price cap is next adjusted. but the period of time over which these prices are observed is a few months. so price

reuters also reporting that gazprom could sanction ukraine's nafto gas, jeopardizing gas flows, tyler, that are still going through ukraine. back to you. >> thank you very much pippa stevens reporting. now to the skies we go, or rather to the courtroom. the department of justice's antitrust trial against jetblue and american kicks off today, with the government arguing that the alliance between the two companies will stifle competition and lead to higher prices the outcome of the trial could have big implications for jetblue's proposed takeover of spirit so what happens next with the companies and the stocks with us is helene becker, senior research analyst at cowan. helene, welcome. good to have you with us take us through what is going on here it is american and jetblue combining to jointly i guess sell seats to compete in new york and boston most especially against united and delta >> exactly what you just said is true it's an alliance similar to the alliances that the u.s. airlines have with a lot of international carriers the sky team or one world or star alliance as an example.

. >> after russia's gazprom said it will stop pumping gas through the pipeline, eu member states are racing to act. sweden announced the equivalent of 23 billion euros in the liquidity guarantees to its power companies. finland followed suit, announcing emergency funding of up to 10 billion euros in the form of loans and loan guarantees to energy providers. >> has a recent strong price fluctuations in the electricity derivatives market require the government to take quick to ensure market stability. >> germany which is more reliant on russian gas than other eu countries announced a 65 billion euro relief package. and includes a windfall tax on energy company's profits as well as payments to seniors and students. in france, as government nationalized the country's electricity giant and has cap price increases for consumers at 4%. french businesses are being afforded some lesser protections. fears of a recession are looming over the continent and several states have already triggered emergency plans that could soon lead to energy rationing. >> time for a check on the trading action. cr

the situation deteriorated further at the beginning of september, when russia's gazprom said it was closing a crucial gas pipeline to the eu. again. the kremlin says the closure is due to technical issues, contractual obligations, and international sanctions, placing the blame firmly on brussels. eu officials refute his claims and accuse russia of trying to blackmail that bloc. >> they say we are using energy as a weapon. they put themselves in the situion and do not know what to do now. they abated themselves into a sanctions corner. reporter: last week, g-7 nations agreed to a russian oil price cap to reign in russia's revenues and stabilize energy markets. now the eu's commission president is also calling for a cap on gas. >> we aim at lowering the costs of gas. and therefore, we will propose a price cap on russian gas. of course the objective here is very clear. we all know that our sanctions are deeply grinding into the russian economy, with a heavy negative impact. but putin is partially buffering through fossil fuel revenues, so here, the objective is we must cut russia's revenues wh

speaking of freezing, this sinister music video by the russian energy giant gazprom shows russia switchingff the gas to europe ahead of winter. it is taunting the west after russia did indeed shut down its biggest pipeline to europe. in its standoff with the west, the kremlin sees energy as its trump card. it is playing it very publicly. the calculation is cutting energy supplies to europe will cause such economic pain that europe governments will drop the sanctions they imposed over russia's invasion of ukraine in exchange for cheaper fuel. scenes like these give the kremlin hope. this was prague on sunday. tens of thounds of people protesting soaring energy bills and demanding an end to sections against russia. will european leaders cave in to pressure? >> this is foremost an energy war. this is not going to be good for europe because the same methods are likely to be repeated. >> this will take time f europe to reduce its reliance on russian energy. this means this winter could be a tough one. steve rosenberg bbc news moscow. >> despite threats from moscow, the european union today outlin

could we even do the investigation without the involvement of gazprom, for example? so to some extent, russia will be involved, but there will be a lot of suspicion, i am sure of that. it will certainly be a big question how we will actually do that. also, what will this investigation show, and who will accept the evidence produced by this as valid? that is also something that will be discussed. we will see. phil: who is responsible for what? guest: absolutely, it is going to be very complicated both technically, how do you actually conduct this investigation, but also as you say, all the legal aspects and international aspects of it. i don't have the answers for how it will be sorted out. phil: ok, we will continue to talk about this and add to the uncertainty. thank you for your expert analysis, anders nilsson from the world danish defense college. thank you. let's take a look at some more stories from around the world. supporters of iraq's influential cleric moqtada al-sadr have stormed part of the heavy the fortified government area. they breached barriers in the

you have not cut your ties to gazprom and vital. you continue to own a major stake in the russian bank, spear back. >> no, we do not own a stake in sberbank, i think that's a mutual fund or somewhere. we have materially cut out some of the inflation -- >> i'd like you to cut all your ties to gazprom and vital. let me move on to citigroup, have you cut your ties with the toil? >> can i say one more thing? >> not on my time, you can't. reclaiming my time. >> the time belongs to the gentleman from california. >> you can do a press conference afterwards and comment at you like, not on my time. have you cut your ties to lukoil and vital? >> similar to mr. dimon, we have been working to our exposures and russia. >> so, you have not cut your ties yet. let's move on. >> -- >> a number of the banks here have said that you're going to cut investment in new coal fired electric plants. i'll go down. the question though is, are you going to finance crypto mining? which creates electricity that is then wasted in something that doesn't keep anybod

speaking of freezing, this sinister music video by the russian energy giant gazprom, shows russia switching off the gas to europe ahead of winter. it's taunting the west after russia did indeed shut down its biggest pipeline to europe. in its stand—off with the west, the kremlin sees energy as its trump card, and it's playing it very publicly. the calculation is that cutting energy supplies to europe will cause such economic pain, that european governments will drop the sanctions they imposed over russia's invasion of ukraine in exchange for cheaper fuel. scenes like these give the kremlin hope. this was prague on sunday. tens of thousands of people protesting at soaring energy bills and demanding an end to sanctions against russia. so will the european leaders cave in to pressure? it is a full—fledged energy war. if they capitulate, vis—a—vis this blackmail, it is not going to be good for europe because the same methods are likely to be repeated by the russian government in the future. it's going to take time for europe to reduce its reliance on russian energy. that means that this

plans to reopen a key gas pipeline to europe have been scrapped by the russian energy giant, gazprom. the company claims it can't restart nord—stream—1 because of an oil leak in a turbine — and that it will remain closed for an indefinite period. however, the eu has accused russia of using gas as an economic weapon. the head of the international atomic energy agency has said that military activity has violated the physical integrity of the zaporizhzhia nuclear plant in ukraine several times. zaporizhzhia, in southern ukraine, is europe's largest nuclear plant. it was occupied by russia soon after it invaded ukraine in february — there's been heavy fighting close by and the plant has been rocked by shelling. six members of the iaea team remain at the plant and have carried out a second day of inspections. our security correspondent frank gardner is in zaporizhzhia and told us more about the comment by the iaea that the plant's physical intergity has been violated several times. well, what it means is that it's taken incoming shell and mortar and artillery fire. nobody knows exa

the russian energy giant gazprom says it has scrapped plans to reopen a key gas pipeline to europe. the company claims it can't restart nord stream 1 because of an oil leak in a turbine, which will have implications for europe's energy supply this winter. there are fears of food shortages in pakistan after devastating floods washed away nearly half of the country's crops. so far around 1,200 people are known to have been killed and unicef says many more children could die from a rapid spread of diseases like cholera and malaria. now on bbc news, fleeing afghanistan. i've concluded that it's time to end america's longest war. it's time for american troops to come home. as us, uk and nato forces leave afghanistan, the taliban tightens its grip and a humanitarian crisis unfolds. everybody was desperately trying to find any way to get out of afghanistan because it was the only chance to stay alive. so, fighting, stressful. there was lots of broken cars all over the airport and there was nothing — just a gate — to go into the plane. gunshot. people were running towards the aircraft,

gazprom has warned the last remaining roots are at risk. sources tell us the european union is planning on banning citizens from russian jobs. sources tell us lenders have decided to pull out. hurricane ian is poised to become a costly storm. damages and economic losses could exceed $45 billion. the storm has battered cuba. it is forecast to strengthen through wednesday. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. shery: xi jinping has made his first public appearance in the 11 days since he returned from china. for more, let's bring in our chief north asian correspondent in hong kong. reporter: there has been speculation. if you look at covid zero protocols, it requires all people to have quarantine for seven days followed by three days of isolation. this falls smack in-line with policy and protocol. there is always speculation ahead of such a highly politically charged time like the party congress. when i was the china correspondent 10 years