Original Broadcaster Captioning (Enhanced). Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:04Now on BBC News. The latest
00:00:07business news from across the globe.
00:00:09globe. Business Today. MUSIC
00:00:20Affordability. Election. Wall Street readies for a big week as
00:00:24as America heads to the polls for for the midterms. What could it tell
00:00:27tell us about the state of the world's
00:00:29world's biggest economy? More people
00:00:31people are working than at any time
00:00:34time in the history of our country.
00:00:39country. Back online investors pull pull over $3 billion of assets out
00:00:43out of Binance as withdrawals resume. resume. After last week's massive
00:00:47massive hack. And room for judgement.
00:00:49judgement. The boss of signal tells tells the BBC artificial intelligence
00:00:53intelligence development needs to
00:00:57to slow down. Welcome. This is Business
00:00:59Business Today in London with me me Sally Bundock. So we start in
00:01:02in the US where President Trump has
00:01:04has been making his last campaign campaign speeches ahead of Tuesday's
00:01:08Tuesday's midterm elections. The The President has been calling on
00:01:11on voters to consider his name to
00:01:13to be on the ballot during an extremely
00:01:15extremely busy month of rallies across
00:01:18across multiple states. The vote, vote, which has been called the most
00:01:22most consequential US midterms in
00:01:24in years, could see the ruling Republican Republican Party lose its majority
00:01:28majority in the House of Representatives
00:01:31Representatives and potentially even even the Senate. It's all to play
00:01:34play for something that could slow slow down President Trump's ability
00:01:38ability to enact his policies during
00:01:40during the final two years of his his term. For financial markets,
00:01:44markets, the results, which include
00:01:46include key governor races, could
00:01:48could change the trajectory of closely
00:01:50closely watched policies from US
00:01:53US public spending and the AI build
00:01:55build out all at a time when US government government borrowing costs courtesy
00:01:59courtesy of the bond markets, have have been soaring and US national
00:02:03national debt is at an all-time high.
00:02:06high. One major issue is the rising rising cost of living inflation,
00:02:10inflation, driven by surging oil oil prices from the war in Iran.
00:02:13Iran. But President Trump says the
00:02:15the US has never been in a better
00:02:18better position. Under my leadership
00:02:20leadership income for hard working working Americans has soared to the
00:02:24the highest level ever recorded. recorded. More Americans are working
00:02:27working today than at any time in in the history of our country. The
00:02:31The poverty rate has reached its
00:02:34its best and lowest level in American
00:02:37American history, with African American American poverty, Hispanic American
00:02:40American poverty, Asian American American poverty, Native American
00:02:43American poverty rates at their best
00:02:45best and lowest levels ever recorded.
00:02:49recorded. And exports have soared
00:02:51soared to the highest level in American
00:02:54American history. That's a little
00:02:56little bit of President Trump there. there. During a rally. Well, this
00:02:59this race will play a defining role
00:03:02role in the trajectory of crucial
00:03:04crucial issues for Wall Street, including
00:03:07including AI data centres. The money money spent, the positioning and
00:03:10and US public spending in a time
00:03:11time when national debt is at a record
00:03:15record high of $40 trillion. Let's
00:03:16Let's talk to Janet Mui head of market
00:03:20market analysis at RBC Brewin Dolphin. Dolphin. Morning to you, Janet. Now
00:03:23Now we're reading all sorts ahead
00:03:27ahead of voters deciding tomorrow. tomorrow. One of the things I was
00:03:30was reading this morning in the Financial Financial Times was that big fund
00:03:34fund managers have actually switched
00:03:35switched to the sidelines ahead of
00:03:38of this election. Yes. Hi. Good morning morning Sally. Thanks for having
00:03:41having me. I think the thing is,
00:03:44is, according to the polls and according according to the betting markets,
00:03:48markets, the Democrats are likely
00:03:51likely to take both sides of the
00:03:53the Congress. So I think this is is a huge uncertainty that a lot
00:03:57lot of investors would actually like
00:03:58like to just step aside for now because
00:04:02because if we have a Democratic win
00:04:04win in the Congress, it means a lot
00:04:06lot of the ambitious spending plans
00:04:10plans could be on hold and debated debated and under more scrutiny.
00:04:13scrutiny. And I think for investors, investors, a major risk is really
00:04:16really about the build out of the the AI centre. If the Democrats take
00:04:20take control of the Congress, that that could potentially slow down
00:04:23down because it is facing increasing increasing scrutiny. So I guess,
00:04:26guess, you know, it is a I think
00:04:29think that the House is very likely likely to be gone. But in terms of
00:04:33of the Senate is really a very close
00:04:35close call. So I think people are
00:04:37are just stepping aside for now and and see what the results are. Yeah,
00:04:41Yeah, absolutely. And as you say, say, that's what the polls predict.
00:04:44predict. But as we know, as history history tells us, polls often do
00:04:47do get it wrong. So we'll all be
00:04:49be watching very closely to see what
00:04:52what the outcome is. If the outcome
00:04:54outcome is is worst case scenario scenario for President Trump and and the Republicans, what will the
00:04:58the reaction on markets be like?
00:05:00like? Do you think. I think the potential
00:05:04potential reaction could be initially initially negative. I think because
00:05:07because as I mentioned, I think the
00:05:10the AI build out could be more at
00:05:13at risk under a Democratic control control of the Congress. And as we
00:05:16we know, the market is all about
00:05:18about the AI trade. So if that is
00:05:20is being slowed down just a bit, bit, I think markets would be very
00:05:24very worried. Particularly we already already have seen quite a lot of
00:05:28of wobble in the AI trade. The most
00:05:31most recently. And of course, I think think if you're talking about fiscal
00:05:35fiscal spending that is very likely likely to be curtailed. The stimulus
00:05:38stimulus checks may not happen. So
00:05:41So I think that that is a concern. concern. And of course I think a
00:05:45a more immediate worry is that right
00:05:47right after the midterms we could
00:05:49could see strikes at Iran again because
00:05:52because it has been stopped because because President Trump said because
00:05:55because of the midterms. But it could
00:05:58could escalate afterwards. So again, again, that puts more immediate risk
00:06:02risk to market in terms of the oil oil prices. Absolutely. And I'm going
00:06:05going to dig a little bit deeper deeper into that in a moment with with my next guest, Janet. But let's
00:06:09let's just get your take on the AI AI trade at the moment, because we
00:06:12we saw a huge sell off at the end end of last week on Wall Street.
00:06:15Street. The Nasdaq at one point falling
00:06:17falling into correction territory.
00:06:19territory. We had so many of the
00:06:21the major high hyperscalers revealing revealing their earnings, and it
00:06:25it detailed enormous sums that they're
00:06:28they're spending and raising to finance
00:06:30finance AI. So will we see that concern
00:06:33concern continue this week? Do you
00:06:36you think? I think absolutely, I
00:06:39I think markets are in a more scrutinising
00:06:41scrutinising stage. Unfortunately,
00:06:44Unfortunately, the AI build out continues, continues, but it is at risk if the
00:06:48the Democratic control of the Congress.
00:06:49Congress. And the thing is, we are
00:06:52are seeing increasing debt financing
00:06:56financing and a lot of these hyperscalers hyperscalers are just simply losing
00:06:59losing their free cash flow for these these build out. We're seeing increasing
00:07:02increasing evidence of that. So that that scrutiny is not going to stop.
00:07:05stop. OK. And yeah, so so this is is going to continue for a while.
00:07:09while. Janet, thanks so much. Janet Janet Moy there from RBC Brewin Dolphin.
00:07:12Dolphin. Well, let's now focus on on the Middle East because as Janet
00:07:15Janet said, there's big concern about about what will happen after the
00:07:18the US midterm elections. Iranian Iranian negotiators were in Qatar
00:07:22Qatar on Sunday for a third day in in a row of talks to try and end
00:07:26end the US-Iran war. The Iranian Iranian foreign minister said Tehran
00:07:29Tehran is prepared for both defence defence and diplomacy amid growing
00:07:33growing concern. American and Israeli
00:07:36Israeli attacks could resume after after the US midterm elections. Let's
00:07:39Let's speak to Kate Dorian, fellow
00:07:41fellow at the UK at the Energy Institute
00:07:45Institute in the UK. Good morning
00:07:47morning to you, Kate. Good morning.
00:07:50morning. So this is a critical week week on many levels. We. We also
00:07:52also must mention of course we had had the Israeli elections last week
00:07:55week as well. So what are your thoughts thoughts on where we're headed. Well,
00:07:59Well, I mean the Israeli elections
00:08:01elections were inconclusive. So Mr
00:08:04Mr Netanyahu is is going to remain
00:08:06remain as caretaker. So and we know
00:08:08know what his position is. He wants
00:08:10wants you know, he wants Iran. He
00:08:14He wants more attacks against Iran. Iran. He wants regime change. But
00:08:17But at the same time, we're seeing seeing some diplomatic moves. Qatar
00:08:21Qatar obviously, is one of those those Gulf countries that was really,
00:08:24really, really hit hard by the closure closure of the Strait of Hormuz.
00:08:27Hormuz. And, you know, because they they don't have the option to move
00:08:31move their tankers and export LNG,
00:08:33LNG, which is why we've seen such
00:08:35such very, very high prices for gas
00:08:38gas in Europe in recent weeks. They've
00:08:40They've come off a little bit, but
00:08:44but it's, you know, the market is is also bracing for the possibility
00:08:47possibility that after the midterm midterm elections in the US, there there may be renewed attacks against
00:08:51against Iran. Iran has said that
00:08:53that there would be no geographic geographic limits to its response.
00:08:56response. So, you know, we're still
00:08:58still in a state of no war, no peace.
00:09:01peace. Diplomatic efforts ongoing. ongoing. But the US doesn't seem
00:09:04seem to be involved. It's between between Qatar and Iran. So we just
00:09:08just have to wait and see. But prices prices have come off on, on expectations
00:09:11expectations that there may be a a diplomatic solution. Yeah. On the
00:09:15the hope so a bit more positive than than negative today. But in the meantime,
00:09:18meantime, in Saudi Arabia, the attacks
00:09:20attacks continues. The Iran backed
00:09:23backed Houthis in Yemen continue
00:09:25continue to target Saudi Arabia, Arabia, and that is ongoing, isn't
00:09:28isn't it? Despite all the efforts
00:09:30efforts to end that war that we heard
00:09:34heard from the internationally backed backed government of Yemen? Well, Well, exactly. Yes. You've seen attacks.
00:09:37attacks. I mean, the Red Sea, the
00:09:41the route out of the Red Sea in, in, in the south, the Bab el Mandeb
00:09:44Mandeb is still under the control control of the Houthis. So Saudi
00:09:47Saudi Arabia is shipping more crude crude through the Strait of Hormuz,
00:09:50Hormuz, which is quite risky because because you have to. And it's also
00:09:54also a costly exercise because you you need two tankers to conduct these
00:09:57these ship to ship transfers and
00:10:01and then through Bab el Mandeb. If If you can't go through the south, south, you have to go through the
00:10:05the north, through the Suez Canal, Canal, which means going round the
00:10:07the Horn of Africa because the main
00:10:09main market is in Asia. So that ties ties up your tankers, which is why
00:10:13why we're seeing very high freight freight rates. We're seeing high
00:10:16high insurance rates and we're seeing
00:10:17seeing a shortage of refined fuels,
00:10:20fuels, like diesel, which is much
00:10:24much higher than oil than crude oil. oil. So that's why, you know, if
00:10:28if you look at just the price of of oil futures, it doesn't really
00:10:31really reflect the realities of the
00:10:33the market. And just quickly, Kate,
00:10:36Kate, if President Trump was to lose lose majorities in both the House
00:10:39House of Representatives and the
00:10:42the Senate, what do you think might
00:10:44might be his next move when it comes
00:10:47comes to this war? Well, I don't
00:10:49don't think he's really consulted
00:10:51consulted the House you know, he's
00:10:53he's he I don't he didn't go to,
00:10:56to, to the house to seek permission permission for the war. I don't think
00:11:00think it's going to change anything. anything. I think he will challenge
00:11:03challenge any outcome that he doesn't doesn't like as he's done in the
00:11:06the past. And I don't think it's it's really going to have an impact
00:11:09impact on. On his foreign policy.
00:11:12policy. So I don't expect that it'll it'll be all right. Kate, we appreciate
00:11:16appreciate your time and let's see see what this week brings. Thank Thank you so much for talking to
00:11:20to us this morning, Kate. Dorian Dorian there from the Energy Institute
00:11:23Institute in the UK. Now let's bring bring you some of the day's other
00:11:27other business stories. The BBC understands understands that Virgin Media O2
00:11:30O2 is to announce plans later this this week for thousands of job cuts.
00:11:34cuts. The exact details are yet to
00:11:35to be finalised but the firm, which
00:11:38which employs 16,000 people, is also also expected to halt investment
00:11:41investment in its fibre network as as investors raise concerns about
00:11:44about its debt of more than £20 billion.
00:11:48billion. The Opec+ group of oil producing producing countries agreed to keep
00:11:52keep December production targets targets steady at their meeting on
00:11:55on Sunday. The oil cartel that includes
00:11:57includes Saudi Arabia, Russia and and Iraq confirmed that no further
00:12:01further policy adjustments will occur occur until next year as the group
00:12:05group continues to struggle with with export disruptions from the
00:12:08the Iran war and still to come calling
00:12:12calling for an AI slowdown. The BBC
00:12:14BBC speaks to the boss of Signal
00:12:18Signal around the world and across
00:12:19across the UK. This is BBC News.
00:13:19MUSIC
00:13:31This is Business Today on BBC
00:13:33News. Investors have withdrawn over
00:13:36over $3 billion worth of assets from from Binance after the world's largest
00:13:40largest cryptocurrency exchange came came back online on Sunday following
00:13:44following a huge hack. Binance says
00:13:47says withdrawals were stabilising stabilising after an initial spike
00:13:49spike and that deposit volumes remained
00:13:52remained substantial. The exchange
00:13:54exchange says it has covered around
00:13:57around 95% of the $6.3 billion taken taken in what is suspected to be
00:14:01be crypto's biggest hack on record record last week, saying it will
00:14:05will absorb the financial impact,
00:14:07impact, not its users. Over the weekend,
00:14:09weekend, the FBI said that North North Korea was responsible for the
00:14:13the attack. Well, let's talk to Alice
00:14:14Alice Taylor. Digital forensics researcher researcher at Oxford Information
00:14:18Information Labs. Morning, Alice. Alice. Morning. No surprise to hear
00:14:22hear that people were quick to withdraw
00:14:24withdraw their funds. Yes. As you
00:14:28you said, it's been about 3.6 billion.
00:14:32billion. And this is quite a critical critical moment of sort of is this
00:14:36this a turning point for cryptocurrency cryptocurrency generally? It is quite
00:14:40quite remarkable, though, that Binance Binance have managed to cover 90%
00:14:4390% of the losses already and have have said they're committed to making
00:14:46making up that final 10% as well. well. And they're saying they're
00:14:49they're going to absorb the final,
00:14:52final, the financial impact. I just
00:14:54just wonder what that means for Binance Binance going forward, whether people
00:14:57people will actually think, you know,
00:15:00know, what is this a safe place to
00:15:02to do business or not? We see this
00:15:04this a lot with cyber attacks. You
00:15:07You know, like with Land Rover Ranger
00:15:10Ranger and with M and S and more
00:15:12more recently with Asos, there is
00:15:14is this huge impact of just sort
00:15:18sort of like reputational damage
00:15:20damage really of people losing confidence
00:15:23confidence and obviously with a cryptocurrency cryptocurrency exchange, it's so
00:15:26so obvious to see, you know, the
00:15:29the impact of that kind of lack of
00:15:32of confidence. And a lot of people
00:15:35people are sort of questioning, you you know, like is the FBI have now
00:15:39now linked the cyber attack to North North Korea. So it is definitive definitive and they've said that
00:15:42that very clearly. It's not just just sort of knowledge from private
00:15:46private research companies. They're They're sort of saying is cryptocurrency
00:15:48cryptocurrency now just kind of like
00:15:50like a funnel for North Korean state
00:15:54state sanctioned warfare? I think
00:15:56think this is definitely a moment moment of reflection for cryptocurrency
00:16:00cryptocurrency generally. In terms
00:16:03terms of Binance reaction to this,
00:16:06this, were you impressed with their their speed of reaction, their immediate
00:16:10immediate reassurance to those who'd who'd lost money that they would would get it back, that they would
00:16:13would cover that cost? And your thoughts?
00:16:17thoughts? I think what is a very very notable story is, you know,
00:16:21know, 3 billion was stolen, 3 billion billion was frozen. And this is a
00:16:24a great example of when there's that that collective response and everybody
00:16:28everybody sort of working together together with real time threat intelligence,
00:16:32intelligence, you know, steps can can be taken that are actually, you
00:16:36you know, like meaningful. I think think it is also remarkable that
00:16:39that they've, you know, covered 90%
00:16:4190% of the losses. And I think it's
00:16:45it's I have seen a lot online of
00:16:48of sort of when you use when you you do your investment in a thing
00:16:51thing that's sort of like, screw screw you guys, we don't want any
00:16:55any independent point of control control or regulations. And then
00:16:59then suddenly the no independent independent point of control or regulations
00:17:02regulations are actually a very negative
00:17:03negative thing. I mean, cryptocurrency cryptocurrency is high risk, high
00:17:07high reward for lots of people. And
00:17:09And as I said, this is sort of a
00:17:11a moment of reflection and sort of of thinking about possibly regulation.
00:17:15regulation. OK, Alice, thanks so so much for giving us your reaction
00:17:18reaction to the latest there on Binance Binance Alice Taylor there from Oxford
00:17:21Oxford Information Labs. Well, let's
00:17:23let's talk about AI safety now. Meredith
00:17:26Meredith Whittaker is the boss of of the Signal Foundation, which runs
00:17:30runs the encrypted messaging app app signal. She's a former AI researcher
00:17:34researcher at Google and is calling calling for its development. That's
00:17:37That's artificial intelligence to
00:17:38to be slowed down. She spoke to our
00:17:43our reporter Megha Mohan. The risk
00:17:44risk is very real, but it's not the
00:17:47the shiny ghost stories that the
00:17:50the wild eyed boys are telling us
00:17:52us right now. AI doom is dominating
00:17:55dominating the headlines, but the
00:17:57the President of signal, the encrypted encrypted messaging app and one of
00:18:01of the most influential women in
00:18:03in the space, is telling us to slow
00:18:06slow down. You would have to draw
00:18:08draw back on a lot of this. You would
00:18:10would have to put measures in place
00:18:12place that slow things down, that
00:18:14that leave room for judgement, that
00:18:17that allow institutions and experts experts to say AI is not appropriate
00:18:20appropriate here. We should be insisting
00:18:24insisting on robust engineering, engineering, robust technical practices,
00:18:27practices, all of which slow down down markets, all of which might
00:18:31might affect valuations. Meredith
00:18:34Meredith Whittaker leads signal a a messaging app built. Around privacy
00:18:38privacy as a core tenet with an estimated
00:18:42estimated 40 to 70 million users. users. When you and I are talking
00:18:45talking on signal only, you and I
00:18:48I can read that messages. We live
00:18:50live in a world where almost everything
00:18:53everything we do, our connections, connections, our communities, our
00:18:56our locations, our preferences, our
00:19:00our communications are surveilled surveilled and logged by a handful
00:19:03handful of companies that use them them to sell ads that can give them
00:19:05them to governments that are picked
00:19:07picked up by data brokers, sold to
00:19:11to ideological fringe groups. Around
00:19:14Around 2017. Whitaker gained public
00:19:18public recognition as a co-organizer
00:19:19co-organizer of the Google walkout.
00:19:22walkout. Hey Cover ups have got to go. Which
00:19:26saw more than 20,000 employees and
00:19:29and contractors take part. A former
00:19:32former AI researcher at Google, she
00:19:34she had raised concerns about the
00:19:36the ethical risks of AI systems, systems, including their potential
00:19:40potential use in military applications.
00:19:42applications. I was alarmed by this.
00:19:45this. This is going to supercharge supercharge mistakes. This is going
00:19:49going to launder bad intelligence intelligence and bad data. This is
00:19:51is going to paint a veneer of objectivity
00:19:55objectivity and intelligence on systems systems that are basically just sort
00:19:58sort of, you know, drawing on the the same bad Intel that we've always
00:20:01always had access to. Whitaker and
00:20:04and apps such as signal face criticism
00:20:06criticism of their own. Not everyone
00:20:09everyone supports absolute privacy. privacy. This year, the UK government
00:20:13government said encrypted messaging messaging apps could face restrictions
00:20:17restrictions as part of efforts to
00:20:19to tackle child abuse and the sharing
00:20:21sharing of explicit imagery. Private
00:20:24Private communication. Is a fundamental
00:20:26fundamental human right for a reason reason and you undermine end to end
00:20:30end encryption in one point and you
00:20:32you poisoned it for everyone. It
00:20:35It no longer protects anyone. If
00:20:37If you and. I talk in five years'
00:20:41years' time, what is the what kind kind of conversation do you hope
00:20:45hope that we'll be having. Right Right now? Our visions are being
00:20:47being written by people whose motivations motivations are often aligned with
00:20:51with the profit and growth of a very
00:20:53very narrow industry. Products and
00:20:57and technologies should not be dominating dominating the vision for what it
00:21:00it looks like to move forward as
00:21:03as a human population. Really interesting
00:21:07interesting to hear from Meredith Meredith Whittaker there. President
00:21:10President of the Signal Foundation. Foundation. Now on to something that
00:21:14that more and more of us may be feeling
00:21:17feeling or experiencing in the workplace.
00:21:19workplace. And I'm talking about about stress and that might be at
00:21:23at high levels because of fast changing
00:21:27changing technological things that that are going on in your workplace.
00:21:30workplace. It could be because of
00:21:33of financial pressures and restructuring
00:21:35restructuring where you work or concern concern about employment going forward.
00:21:38forward. There's lots of reasons reasons why we may be stressed in
00:21:42in the workplace and left unaddressed. unaddressed. It can affect your health
00:21:45health and wellbeing. It can increase
00:21:48increase sickness absence and it
00:21:50it impacts performance and productivity. productivity. Well, the good news
00:21:53news is understanding the causes causes and taking practical steps
00:21:57steps to address them. Employers
00:21:59Employers can help create healthier,
00:22:02healthier, less stressful workplaces. workplaces. Well, let's talk to Nick
00:22:05Nick Propper, who's a human performance performance expert, who's trained trained people working in some of
00:22:09of the most high pressure environments environments in the world from the
00:22:13the US Air Force to the sales floors
00:22:15floors at Goldman Sachs. Morning Morning to you, Nick. Hi, Sally.
00:22:19Sally. How are you? I'm very well.
00:22:22well. I'm a little bit stressed, stressed, if I'm honest, because
00:22:24because of what I do, but I'm pretty pretty good. But Nick, part of the
00:22:28the reason we're talking about this
00:22:30this morning is because it is international
00:22:34international Stress Awareness Week. Week. When you're with those who
00:22:37who are in the US Air Force or those those who work at Goldman Sachs or
00:22:40or others in very high pressured pressured environments, what do you
00:22:43you tell them? I think the first
00:22:46first thing is to stop demonising demonising stress. Stress in and
00:22:49and of itself actually is is not not the issue. And the avoidance
00:22:53avoidance of stress certainly isn't isn't the answer. But stress in the
00:22:57the absence of recovery does become
00:22:59become problematic. So the main message message is we need the stress that
00:23:02that actually creates the opportunity opportunity to optimise performance.
00:23:06performance. The opportunity for for us to grow as humans. But we
00:23:09we also have to pay attention to to where the growth happens and the
00:23:13the growth happens in the recovery recovery phase. And that's the part
00:23:16part that's missing for most people people in business. And candidly,
00:23:20candidly, most people out there trying trying to do hard things, whatever
00:23:23whatever the endeavour. Is it true
00:23:24true to say, Nick, that currently
00:23:27currently stress levels are higher
00:23:30higher in any in any work environment, environment, partly because of just just what's going on in the world?
00:23:34world? Something that I'm talking talking about in my workplace all
00:23:37all the time. The concern about what's
00:23:40what's happening in, in the Middle Middle East, in, in, in countries
00:23:44countries across Europe. And we saw saw very a lot of stress across Europe
00:23:47Europe over the weekend where we we saw riots in Germany and France
00:23:51France and protests and all
00:23:56sorts. Yeah. And I think this is is really an issue of what we would would call locus of control when
00:23:59when we talk about these stressors. stressors. So that's an important
00:24:02important word. The stressor is the
00:24:04the thing that's delivering the stress stress to the individual. We often
00:24:08often talk about them in very big big kind of macro descriptions like
00:24:12like what's happening in the Middle Middle East, what's happening in
00:24:14in my company, the brain fundamentally fundamentally doesn't like that because
00:24:17because it feels like it has no control.
00:24:20control. We're just reacting to whatever whatever this thing is going to do
00:24:23do to us. So so for example, what what we need to do in those situations
00:24:26situations is start to pay attention attention to what we can control.
00:24:30control. And that shifts the locus locus from external to internal.
00:24:33internal. Now I'm going to decide decide how I interact with this situation,
00:24:37situation, however big, however complex, complex, I'm going to do it on my
00:24:41my terms and that calms the psychology psychology down. And that then in
00:24:44in turn calms off physiology down, down, which is very important in
00:24:47in our ability to sustain our performance performance without getting exhausted,
00:24:51exhausted, overwhelmed or burning
00:24:52burning out. As you said, Nick, mental
00:24:56mental health and mental wellbeing wellbeing and reducing stress was
00:24:59was something that was, was not talked talked about until more recently.
00:25:03recently. Are we better at dealing dealing with it? Do you think? I
00:25:07I think we're on the way. That's That's why we do the work we do.
00:25:10do. That's why we've now taken the the book of our work, Stress Self
00:25:13Self to best self out into the world world so that anybody anywhere can
00:25:16can get access to it. I think the the first thing is we have to recognise
00:25:20recognise our stress warning signs. signs. We've all we've got very good
00:25:24good at ignoring the way the body body is communicating with us, that
00:25:27that we are starting to experience experience stress. That's kind of
00:25:29of problem number one. So we have have to just learn what it looks
00:25:32looks like for us to be under stress, stress, whether that's a physical
00:25:36physical response, a mental response response that can be us getting hyper
00:25:40hyper distracted or hyper focused. focused. And those emotional responses
00:25:43responses anxiety, fear, being combative,
00:25:47combative, that's just useful information. information. And we do have to start start paying attention to that. And
00:25:50And then we've got to say what happens happens next. And the thing we need
00:25:53need to do next is almost often, often, you know, do something in
00:25:57in the heat of the moment to hold hold our performance level whilst
00:26:00whilst we're dealing with this stress. stress. And we can do that with something
00:26:04something called the challenge response, response, which is all right, labelling
00:26:07labelling emotion out of time. Which Which means my stress levels are are high. We're going to have to
00:26:11to say goodbye. Sorry to Nick to to cut him off. Nick Propper there
00:26:14there on stress. MUSIC
00:29:00MUSIC
00:29:13Being able to inspire someone
00:29:15is always the greatest joy. I saw saw Kisa one time, she said Grammys
00:29:19Grammys and she said that she studied studied some of my songs for the
00:29:21the songwriting, and I thought that that that was the biggest compliment
00:29:25compliment ever. States. ...
00:29:35MUSIC
00:29:40My support for Ukraine is unwavering.
00:29:45unwavering. It is 100%. When the
00:29:46the big names talk, they talk to
00:29:49to us.
00:30:13Live from London. This is BBC
00:30:16News. Ukraine's alert app could have
00:30:19have been compromised as residents residents report receiving false
00:30:23false notifications about a radiological radiological threat, a chemical attack
00:30:25attack and even a message about possible
00:30:27possible street fighting in Kyiv.
00:30:30Kyiv. Just one day to go before the the midterm elections. With last
00:30:33last minute twists in the race to to get a majority in Congress and
00:30:37and maybe the Senate, the King will
00:30:40will address Commonwealth leaders leaders in the Caribbean about the
00:30:43the lasting pain of the transatlantic
00:30:46transatlantic slave trade, Italian Italian driver Kimi Antonelli makes
00:30:49makes history in Mexico as he becomes
00:30:51becomes Formula One's youngest ever
00:30:53ever world champion at just 20 and
00:30:57and in Business Today, Binance users