:00:00. > :00:00.Britain wants changes that include curbs on welfare
:00:00. > :00:00.Those are the latest headlines from BBC World News.
:00:07. > :00:08.Now for the latest financial news with Sally
:00:09. > :00:19.The EU outlines its energy strategy for the coming years,
:00:20. > :00:29.And, we take off to find out what's on offer at the Singapore Air Show,
:00:30. > :00:35.where industry's major players meet to wheel and deal.
:00:36. > :00:46.The price of oil spikes on rumours
:00:47. > :00:49.Saudi Arabia may be meeting with Russia today to talk about supply.
:00:50. > :00:55.It's that time of the year when people in Eastern Europe get nervous
:00:56. > :00:57.What if Russia's Gazprom closes the gas pipelines,
:00:58. > :01:02.Guaranteeing secure gas supplies is one of the European
:01:03. > :01:08.The EU imports more than half of all the energy it consumes.
:01:09. > :01:10.For oil, it imports more than 90% and
:01:11. > :01:16.The total import bill is more than one billion euro per day.
:01:17. > :01:19.Many countries are also reliant on a single supplier, for some,
:01:20. > :01:22.Russia is their only gas supplier making them highly vulnerable
:01:23. > :01:37.Today, the European Commission will announce its long-awaited
:01:38. > :01:59.Jeremy Howell looks at what it's likely to contain.
:02:00. > :02:06.One of Europe's greatest fears, freezing in winter. Almost all of
:02:07. > :02:12.the gas is piped through Ukraine. When Russia has cut it off in the
:02:13. > :02:18.past, other countries in eastern and central Europe have also been left
:02:19. > :02:22.in the cold. The European Union wants to counter this by opening up
:02:23. > :02:27.the gas market,. In the Ukraine's gas problem locking out other
:02:28. > :02:33.countries where it is the dominant supplier. The EU says we used to
:02:34. > :02:40.much anyway. By 2030 it wants us to be burning one quarter less than we
:02:41. > :02:44.do now. By the EU has to strike the right balance. Energy firms say if
:02:45. > :02:51.it falls too far they may not bother exploring new gas reserves. -- But.
:02:52. > :03:03.That, in turn, would put gas supply of Europe in jeopardy. -- the gas.
:03:04. > :03:07.With me is Tom Marzec-Manser, the Editor of the Daily Gas Report
:03:08. > :03:20.We think it will have four key parts. Advice on intergovernmental
:03:21. > :03:27.agreements, a strategy on storage in LNG, and a strategy on heating and
:03:28. > :03:32.cooling, energy efficiency. Eastern Europe is very exposed, as we
:03:33. > :03:40.explained. In terms of its supplier, where it is coming from, future
:03:41. > :03:44.shortages, it is getting both sides of Europe on the same level playing
:03:45. > :03:52.field? It is about giving central and east then Europe and Iberia in a
:03:53. > :03:59.sense a leg up in terms of risk management. Northwest Europe has
:04:00. > :04:05.liquid active wholesale markets. That is a tool to manage those
:04:06. > :04:10.potential crises. Whereas these new strategies will give a tool in the
:04:11. > :04:16.box for these countries to do that. Looking at new pipelines and
:04:17. > :04:21.regulations to help a co-ordinated approach. It sounds expensive, new
:04:22. > :04:27.pipelines. Is there the funding? There is already 5 billion euros out
:04:28. > :04:33.there for the infrastructure that joins countries together and for
:04:34. > :04:37.building these terminals. Some of that will be used and some is
:04:38. > :04:43.already being used to link up parts of eastern and central Europe in a
:04:44. > :04:49.north-south route rather than East-West. This comes on the heels
:04:50. > :04:55.of the climate change talks last year in Paris. We need to talk about
:04:56. > :05:00.how much we consume. Exactly. Part of the energy union is energy
:05:01. > :05:06.efficiency. That is included in the package as well. The commission
:05:07. > :05:11.would like us to move to a greater use of renewables. Therefore gas is
:05:12. > :05:17.part of that transition. Nevertheless, it has to come down,
:05:18. > :05:24.demand. They believe for every 1% made it could fall by 2.6%. That is
:05:25. > :05:26.something we should consider. Watch this space. Thankyou very much for
:05:27. > :05:28.coming in to explain what is coming out in that review later today. We
:05:29. > :05:35.will let you know. Oil prices are
:05:36. > :05:38.on the rise again with Brent Crude This time prices are being pushed up
:05:39. > :05:43.by speculation some of the world's Saudi Arabia's Oil Minister is said
:05:44. > :05:47.to be planning a meeting with his Crude prices have tumbled 43% over
:05:48. > :05:53.the past year due to oversupply. The European Central Bank chief
:05:54. > :05:56.Mario Draghi has sought to calm fears about the health of European
:05:57. > :05:58.banks after a European banking stocks have lost
:05:59. > :06:03.almost a quarter of their value But, Mr Draghi said banks were now
:06:04. > :06:07.better protected from a collapse Individual banks
:06:08. > :06:10.and the financial system as a whole are more resilient, he
:06:11. > :06:21.told European Parliament members. Japanese telecoms group, SoftBank,
:06:22. > :06:23.has announced It's aimed at boosting investor
:06:24. > :06:26.confidence after its stock price fell nearly 30%
:06:27. > :06:28.since the beginning of this year. The firm will buy up to 500 billion
:06:29. > :06:32.yen, or over $4 billion Now, Asia's biggest commercial
:06:33. > :06:44.aerospace and defence airshow has opened
:06:45. > :06:45.in Singapore today. It's a chance for the industry's
:06:46. > :06:49.major players to gather in one of In fact in south-east Asia Boeing
:06:50. > :06:53.expects to sell almost four thousand new planes, worth $550 billion US
:06:54. > :07:03.over the next 20 years. Karishma Vaswani is at the show
:07:04. > :07:24.for us. SILENCE. Clearly we cannot hear her
:07:25. > :07:31.at the moment. Technical difficulties. Apologies for that.
:07:32. > :07:35.Hopefully we can speak to her soon. In the meantime, let me just give
:07:36. > :07:41.you some insight from one of the top chief executives we talked to hear
:07:42. > :07:45.at the BBC. It is called CEO Secrets.
:07:46. > :07:47.Today, we're going to hear from a woman,
:07:48. > :07:50.who has managed to succeed in the male-dominated world of football.
:07:51. > :07:52.Isha Johansen is president of the Sierra Leone Football Association
:07:53. > :07:59.and one of only two female Football Association chiefs in the world.
:08:00. > :08:11.I am the first female FA president in Sierra Leone and the only female
:08:12. > :08:22.president in Africa. And I am one of two in the world. Now, if that isn't
:08:23. > :08:26.a challenge, what else is? The more challenges that you are able to
:08:27. > :08:31.overcome, the better and the stronger that you get. Challenges
:08:32. > :08:41.should be the main focus for any successful business. I think that
:08:42. > :08:45.this is our time. Women should be able to make up their minds as to
:08:46. > :08:49.whether they really want to push the barriers. There is nothing now in
:08:50. > :09:02.this day and age that is a man or woman's roll. -- role. The financial
:09:03. > :09:12.markets. I am sorry, we cannot talk to Karishma for now. Here are the
:09:13. > :09:16.financial markets. Japan, that is after yesterday's 7.2% gain. And
:09:17. > :09:32.look at Brent. We will talk to Russia's Oil
:09:33. > :09:40.Minister to talk about production. Two key OPEC members talking about
:09:41. > :09:42.production. I want to move these screens on. Even these market boards
:09:43. > :09:56.and working! -- aren't. No action on Wall Street last night.
:09:57. > :10:04.Closed for a holiday or public holiday. No action to steer Asia
:10:05. > :10:10.which is often the case warn World Business Report. -- on. That is it
:10:11. > :10:15.for now. Thankyou very much for watching.
:10:16. > :10:18.More than 2,000 sheltered housing units have been delayed or cancelled
:10:19. > :10:21.because of plans to cut housing benefit,