red sea problems could last all year. ll red sea problems could last all ear. u, a, ~ red sea problems could last all ear. _, a, ~ a, , year. it could make millions in extra revenue. _ year. it could make millions in extra revenue. adel's - year. it could make millions in extra revenue. adel's record l year. it could make millions in - extra revenue. adel's record label extra revenue. adel�*s record label is going back on social media platform tiktok. we'll talk about that story just a minute. platform tiktok. we'll talk about that storyjust a minute. we are talking about the ongoing disruption to global trade. the boss of the second biggest shipping company

maersk could continue till the end of the year. it is a big fall from the this time last year. it has raised its expectations for the year. it expects a loss of over $2 billion. that is not as bad as expected. it is now having to sail a longer route. it having to go around africa instead of crossing the red sea. before the yemeni —based militants started to disrupt world trade, a huge amount of the trade was container shipping. letters talk to simon heaney. thank you for being with us. remind us how important

that shipping route is for global trade. it that shipping route is for global trade. . that shipping route is for global trade. , , ., ., ,;;::f that shipping route is for global trade. , , ., ., , ;;:: , ., trade. it is pivotal. it is 3096 of all container _ trade. it is pivotal. it is 3096 of all container cargo _ trade. it is pivotal. it is 3096 of all container cargo would - trade. it is pivotal. it is 3096 of all container cargo would go i trade. it is pivotal. it is 3096 of- all container cargo would go through there. it is a pivotal point. for maersk, there. it is a pivotal point. for maersk. that _ there. it is a pivotal point. for maersk, that could continue till the end of the year. but they will benefit from the higher prices. it is a bit ironic, that they are saying it will add to global inflation, but they could do when i of it. i inflation, but they could do when i of it. ~' ., ., ~' inflation, but they could do when i of it. ~ ., ., ~ ., inflation, but they could do when i of it. ~ ., _, ., of it. i think look at the container shi -|n~ of it. i think look at the container shipping sector. _ of it. i think look at the container shipping sector, the _ of it. i think look at the container shipping sector, the results - of it. i think look at the container i shipping sector, the results weren't so good. they lost about hundred and 61 million dollars which is very underwhelming. it will be bettered by many of its peers. one of its rivals posted an epic profit of $223 million. it is no longer the best

benchmark for the industry. the impact of the red sea disruption is going to be felt by all carriers. the increase in operating costs mainly from higher food the increase in operating costs mainly from higherfood costs the increase in operating costs mainly from higher food costs and the longer voyages that you mentioned. it will lessen the impact of the overcapacity in the market. those factors combined will see a surge in spot rates in the market. previously spot rates had been on a steep decline. it is previously spot rates had been on a steep decline-— steep decline. it is interesting timinu , steep decline. it is interesting timing. coming _ steep decline. it is interesting timing, coming off— steep decline. it is interesting timing, coming off the - steep decline. it is interesting timing, coming off the back i steep decline. it is interesting j timing, coming off the back of steep decline. it is interesting - timing, coming off the back of cove eight where supply trains were disrupted. this isjust as eight where supply trains were disrupted. this is just as the industry was getting back online. we are expecting a lot more ships and a lot more containers coming online later this year. we lot more containers coming online later this year-—

later this year. we are seeing the market normalise _ later this year. we are seeing the market normalise already. - later this year. we are seeing the market normalise already. there| later this year. we are seeing the - market normalise already. there was an initial panic that was caused by covert ptsd that the owners had. that has since dissipated. the spot market rates have been on a declining trend for some months. essentially, they have been coming back down. before the hootie attacks on shipping —— the cash windfalls from the pandemic are now hitting the water. we are looking at 8%. there was a definite overreaction to start with, but things are settling down

now. �* .., . with, but things are settling down now. �* . ., , ., with, but things are settling down now. �* , ., ., with, but things are settling down now. , ., ., now. because of drought in some part ofthe now. because of drought in some part of the world. — now. because of drought in some part of the world, especially _ now. because of drought in some part of the world, especially in _ now. because of drought in some part of the world, especially in the - of the world, especially in the panama canal that means that seven ships can't get through there. larger ships cannot access the port of baltimore. disruptive events that are impacting shipping are becoming much more frequent. disruption can be lucrative for shipping lines. because they have such an access and ship capacity, they have a safety buffer to cope with such deception. by buffer to cope with such deception. by and large, cup at some sort of panic we get some sort of balance to the networks. when we see it, the

industry is able to cope pretty well and make sure the goods arrive in our shops and homes.— and make sure the goods arrive in our shops and homes. good to have our shops and homes. good to have ou with our shops and homes. good to have you with this — our shops and homes. good to have you with this assignment. _ our shops and homes. good to have you with this assignment. thank- our shops and homes. good to have l you with this assignment. thank you. if you are trying to find music from agile on tiktok, you may have struggled. the record label universal has agreed a new deal with tiktok. this was quite a row wasn't it. universal had put all its music from that platform. do we know what's been agreed? the from that platform. do we know what's been agreed? the details are a bit sketchy- _ what's been agreed? the details are a bit sketchy. going _ what's been agreed? the details are a bit sketchy. going back— what's been agreed? the details are a bit sketchy. going back a - what's been agreed? the details are a bit sketchy. going back a bit, - a bit sketchy. going back a bit, this was universal music making a big stand. they were standing up artist to ensure that got better royalty shares and also ai

protections. this was again steep fakes and other things taking place on tiktok. thing to remember here is that it came at a huge cast. tiktok is one of the best sites in the world currently music discovery. some of its own artists, some with permission, like taylor swift who has been promoting her latest album, was still using tiktok despite their unable's ban. it was awkward for both. now it appears to be resolved. tiktok faces a potential ban here in the united states. president biden signed it into law. the company is challenging that. but if they don't present mail through the courts, you could go into january next year. that resolves this issue. it will create opportunity in the market in terms of ticketing sales and opportunities for al protections.

the specifics, we don't yet know. speaking of tech... the the specifics, we don't yet know. speaking of tech. . ._ the specifics, we don't yet know. speaking of tech. .. the company has announced more _ speaking of tech. .. the company has announced more effort _ speaking of tech. .. the company has announced more effort to _ speaking of tech. .. the company has announced more effort to cut - speaking of tech. .. the company has announced more effort to cut costs. | announced more effort to cut costs. the sea oh... it became a very successful company during the pandemic. it has seen its valuation massively threat shrink since then. it is still trying to take costs out of the business. clearly the journey is ongoing. it hits close home to home for you as a big peloton fan. they are struggling to find their place now that people had gone back to the gym. the demand for their physical bikes is not as strong as it was. ~ , .,

physical bikes is not as strong as itwas.~ ,., ., ., it was. we should say that other exercise equipment is available. hoover is facing a million—dollar case. this is the latest challenge to the uber firm case. this is the latest challenge to the uberfirm in london. there are queues of deliberately misleading customers. since 2018, hoover has made a significant contribution. we will put these legacy issues firmly in their past, they said. it is good to have you with us. what is this case all about? ., , ., , , about? you set it out pretty clearl . about? you set it out pretty clearly- lt — about? you set it out pretty clearly. it is _ about? you set it out pretty clearly. it is a _ about? you set it out pretty clearly. it is a claim - about? you set it out pretty clearly. it is a claim that. about? you set it out pretty - clearly. it is a claim that between 2012 and 2018, uber were operating

illegally. they were not taking the bookings themselves. the drivers were taking the bookings. in getting their licence, they misled tfl about their licence, they misled tfl about their operation. you are hoping that more london black cabbies were sign up more london black cabbies were sign up as a result of this claim. around 30,000 could be implicated. they could stand to make about £25,000. there is quite a reward for pursuing this. we probably won't get the full 30,000 drivers. we are hoping for a few thousand more at the moment. we have to hope that this will be a a period of time. when uber in london in the beginning... leer

period of time. when uber in london in the beginning. . ._ in the beginning... uber hope that the ho -e in the beginning... uber hope that they hepe to _ in the beginning... uber hope that they hepe to put _ in the beginning... uber hope that they hope to put these _ in the beginning... uber hope that they hope to put these legacy - in the beginning... uber hope that l they hope to put these legacy issues in their past. we don't know what the settlement might look like. while this is going on, all these years later legal action is being pursued against them. it is not the first time that lawyers have got involved all around the world. the bi ca- involved all around the world. the bi aa- in involved all around the world. tue: big gap in our case, involved all around the world. tt2 big gap in our case, i was involved in this back in 2018. the global pandemic set business down for a couple of years and the cab drivers had to focus on that. but over the last three or four years, case law has gone in our favour. last three or four years, case law has gone in ourfavour. we have had great plains company. they have been signing up drivers. uber well know that it signing up drivers. uber well know thatitis signing up drivers. uber well know that it is the same claim that we were making back in 2018. it should

be no surprise to them there has been no offer of a settlement. . nova nordisk has seen lower than expected ——... it is now prescribed the drug to patients in the us. they have been ramping up production to meet demand. oil giant shell says it made profits of $7.7 billion in the first three months of the year — a sharp fall on the same period last year — but better than expected. shell has also announced plans to spend $3.5 billion buying

hello from the bbc sport centre. i'm hugh ferris. bayer leverkusen will attempt to continue what's so far been a perfect season later on thursday. having claimed the german bundesliga title now they take on roma in the first leg of their europa league semi final. they still haven't lost a match this campaign. but roma have reached a european final in each of their last two seasons. while having beat many people's favourites to win the europa league liverpool atalanta play marseille. this is an incredibly tough test. stop they needed a last—gasp leveller is to say that match. they are not that far away from 50 games unbeaten. the roper conference

league, they got