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Today, a landmark deal to cut global shipping emissions has been abandoned after Saudi Arabia and the US succeeded in ending talks.
It's World Business Express from the BBC World Service.
I'm Hannah Mullane.
Also, we head to South Africa, where gambling has become one of the country's fastest-growing industries.
But at what cost?
And have you heard of Singles Day?
It's China's biggest online shopping event and this year it's come early in a bid to get consumers to spend more cash.
Hello.
A landmark deal to cut global shipping emissions has been abandoned after Saudi Arabia and the US succeeded in ending talks.
More than 100 countries had gathered in London to approve a deal, first agreed in April, which would have seen shipping become the world's first industry to adopt internationally mandated targets to reduce emissions.
The ocean brings food to our table and provides global blue weight for the ships which transport 80 of world trade.
But our ocean is under threat.
Plastic pollution, rising temperatures, acidification, overfishing.
As you heard there in that promo video from the International Maritime Organization, the shipping industry delivers about 80 of international trade and contributes an estimated 3 to global emissions.
Donald Trump has been threatening countries with sanctions in an effort to stop them voting for this deal.
Esme Stallard is our climate and science reporter and is at the meeting.
The US and Saudi Arabia are very much aligned on this, along with other Middle Eastern countries and also Russia, Nigeria and Liberia.
The reason they said is they're worried the implementation of this plan could increase costs for consumers.
Because, if you remember, this treaty is looking to effectively fine ship owners that don't meet certain emission standards or they have to transition to cleaner fuels.
And the US have been really trying to put pressure on other countries not to pass this vote.
How successful has that been and what's been involved there?
Yeah, incredibly aggressive.
So this was first agreed back in April, this treaty.
This week, the effect is just meant to sign on the dotted line.
The US wasn't present at those talks in April, but since then it's become very much a focal point for President Trump.
He even posted on Truth Social last night about it, calling it scam bureaucracy.
Tactics we've heard being used particularly against island states that rely heavily on the US for trade include threatening to withdraw their visas, blocking access to ports, increasing tariffs on them.
So as one delegate told me, it's quite dirty, the tactics being used here.
Esme Stallard there, the BBC's climate and science reporter.
We head to South Africa now, where gambling has become one of the country's fastest growing industries, with a record 80 billion turnover in the last financial year, despite the country's ongoing economic challenges.
But whilst the sector is booming, there are concerns over the long-term social and economic consequences, particularly with addiction and debt.
Langeela Dukwana, the acting CEO of South Africa's National Gambling Board, spoke to the BBC's Krupa Paddy.
There has been a shift in terms of our gambling trends.
If you look from the COVID times, where we saw a rise in the online gambling space basically people shifting from doing the physical visionals to casino those games, in some of the instances, have become to be very much online.
Then it means that there's a lot of access to those gambling spaces than it would have been before.
And I think that part of it that is complicating it further is is that the legislative element of that, I think, is busy trying to catch up to that development.
But people also in South Africa.
Maybe the culture that we're beginning to see is where people take gambling as a source of income rather than a recreational activity.
That's the challenge.
What is the existing framework at the moment around gambling, the legal framework?
It's called the National Gambling Act of 2004.
Now, obviously, as you can hear, it means that there is a need for us to review that.
Of course, experts.
Many of them are concerned about gambling addiction debt, mental health challenges.
What are you seeing and what's your reaction?
From our own surveys that we have done.
What we realise, for example, is what we call the gambling problem.
It has increased.
It's now sitting at around 31%.
So it is a problem that is there and it's a challenge that we're actually facing.
The BBC's Krupa Paddy talking to Lungina Dekwana, the acting CEO of South Africa's National Gambling Board.
Spotify, the world's biggest music streaming service, has announced it's working with major labels on using artificial intelligence in a responsible way.
The company said it wants to make AI tools which put artists and songwriters first and respect their copyrights.
However, critics say adding more AI to the platform would result in less streaming revenue for human artists.
The pharmaceutical company Novo Nordisk has seen shares fall today.
Nina Stanovich is Senior Investment Specialist at St James' Place and is with us now.
Nina, what's going on there?
Yeah, quite a sharp drop in the share price, over 5% as we speak.
And this drop really comes down to the politics.
So specifically, comments out of the US and from Trump about potentially slashing prices on their blockbuster weight loss and diabetes drugs, like a Zempec to as little as 150 per month.
So when you have the world's biggest market, so the US talking about cutting your main product's price overnight, investors get nervous.
Yeah, that's understandable, isn't it?
And it's not just Novo Nordisk that's seen this happen.
Other pharmaceutical companies also suffering after the news.
Yes, we have seen that, especially the ones in the same weight loss and diabetes space.
So, for example, Eli Lilly, which makes a rival drug to Zempex, so its shares fall as well.
And the logic's simple there.
If US policymakers really do push prices down for one, it probably means that others are next in line.
Nina Stanovic, thank you for joining us.
Have you heard about Singles Day?
Hey, you must be single.
Time to jingle.
Here we go.
You know double 11, the single stay.
You know it's also a shopping day.
It might be about spending money, but it does also seem to involve lots of crazy social media videos, like that one.
It is China's biggest online shopping event celebrating singles, and it normally takes place on the 11th of November.
But it started early this year as the country is struggling to get consumers to spend their cash.
Let's hear more from Nick Marsh.
This is an event that turns over hundreds of billions of dollars.
I mean, it's like 10 times, 15 times more than Black Friday.
Some companies have started their sales already.
So we're in mid-October and Singles Day, as it were, has already started.
And it's no coincidence because the Chinese economy is struggling.
The government wants people to spend more, get money circulating around the economy.
And a good way to do that is by extending these popular, you know, sales events like Singles Day.
The BBC's Nick Marsh there.
And that's the end of this edition of World Business Express with me, Hannah Mullane.
Thanks for listening.
You can get more business news on our website.
It's bbc.com forward slash news.
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