am in mumbai, as the world because m am in mumbai, as the world because rn bi est lam in mumbai, as the world because my biggest election _ lam in mumbai, as the world because my biggest election comes _ lam in mumbai, as the world because my biggest election comes to - lam in mumbai, as the world because my biggest election comes to india's l my biggest election comes to india's financial_ my biggest election comes to india's financial capital. welcome to business today, with me, sally bundock. we start with ryanair, europe's biggest airline by passenger numbers. it's just released its latest earnings that show a 34% jump in full year profits after tax. that's 1.92 billion euros — orjust over $2 billion. ryanair has benefitted from 9% increase in passenger numbers to 184 million over the year, despite delays to its orders of a number of boeing aircraft as higher demand ofset increased fuel costs. let's unpack this with kathleen brooks, research director at xtb.

hello to you, lovely to see you. ryanair, no surprise, it is making some decent profits. the question is, what now? summer prices are going to be a bit softer. i is, what now? summer prices are going to be a bit softer.— going to be a bit softer. i would completely _ going to be a bit softer. i would completely agree _ going to be a bit softer. i would completely agree with - going to be a bit softer. i would completely agree with that. - going to be a bit softer. i would completely agree with that. it l going to be a bit softer. i would| completely agree with that. it is going to be a bit softer. i would i completely agree with that. it is a rare note of caution from ryanair. there was this massive post—pandemic boom in air travel which seems to be normalised in life, and that is where the share price is done quite sharply today. they are returning to some kind of normal. they don't have the pricing power that they did, but since 2019 air priced tickets —— air ticket prices, by 19%. a bit of normalisation is to be expected. ryanair is... it could just be the

consumer saying no, they mightjust decide to travel at less busy times. it has also been very hot in europe for the last few summers, so people might opt to go for later in the year. might opt to go for later in the ear. �* h, might opt to go for later in the ear. �* , might opt to go for later in the ear. , might opt to go for later in the year. also, people might opt “ust as they assuem — year. also, people might opt “ust as they assume because * year. also, people might opt “ust as they assume because of h year. also, people might opt “ust as they assume because of the h year. also, people might optjust as they assume because of the heats. l they assume because of the heats. their exposure to boeing is another going forward. they have so many planes on orderfrom boeing. the planes on order from boeing. the lanes planes on order from boeing. the planes are — planes on order from boeing. the planes are still— planes on order from boeing. tue: planes are still delayed. planes on order from boeing. tte: planes are still delayed. capacity will be an issue, and they did say that, although that housing —— that hasn't helped with the softer pricing issue. boeing is going to have a new ceo. ryanair worked out typical ryanair south earlier in the year, they were willing to give boeing the benefit of the doubt. they do need to wait for the new team to come on board at boeing

which will happen later in the year. then i think there will be expecting big things, a better safety record, better engineering record and more planes. they need to be patient for that. they are picking up these aeroplanes that a good price. they are willing to stick with boeing for now, but if that starts to impact the business which it hasn't done yet, that is when you will see the issue arise and maybe they will have to think about switching their pay manufacture.— to think about switching their pay manufacture. , ., ., ., . manufacture. they have announced some new routes, _ manufacture. they have announced some new routes, as _ manufacture. they have announced some new routes, as ever. - manufacture. they have announced some new routes, as ever. of- manufacture. they have announced i some new routes, as ever. of course they have- _ some new routes, as ever. of course they have- they — some new routes, as ever. of course they have. they are _ some new routes, as ever. of course they have. they are the _ some new routes, as ever. of course they have. they are the biggest - they have. they are the biggest carrier throughout europe and have a nice new routes, they had a really good sweetener for shareholders in there, 700 euros buy—back. the market is concentrating on that softer pricing power. good news for consumers, bad news for ryanair shareholders.

here in the uk there is another warning about the lack of investment in the country's creaking water industry. new research claims that shareholders in some of the uk's largest water companies have withdrawn tens of billions of pounds whilst failing to invest in maintaining or delivering services. at the same time, the report says these firms also want to raise household water bills to pay for future spending. analysis by the university of greenwich shows investors have withdrawn over £85 billion from ten water and sewage firms in england and wales since the industry was privatised more than 30 years ago. 0fwat, the industry regulator, said it "strongly refuted" the figures, but "agrees wholeheartedly with demands for companies to change". water and sewage firms want to increase customers' bills by an average 33% over the next five years to fund improvements in the services. companies are under pressure

as sewage spills and water leaks mount up, which critics blame on under—investment in infrastructure. swetha ramachandran, fund manager at artemis investment management, explained what has gone wrong at the water companies. i think the issue many of these water companies have faced is a rising debt pile in a period of rising interest rates. so a lot of their debt has been floating rate debt, which is affected by inflation and which means, really, is about 20% to 25% of revenues on aggregate today are going to servicing their debt payments rather than being able to be reinvested in the business itself. i think some of this is also a function of the regulatory regime which in the uk has prioritised, not taken enough interest in the rate of return that these companies are earning on their investment. so i think a focus on that may have led to a sort of natural cap on what these companies were withdrawing in the form of dividends, which of course is not the case where we are seeing that

shareholders have been prioritised. and to some extent this is quite a short term prioritisation because the businesses themselves aren't sustainable over the long term. to india now, where it's an important day as the world's biggest election crosses the halfway mark and the fifth phase of polling kicks off. people across the financial capital, mumbai, are casting their vote. mumbai is home to some of india's richest and a key economic hub driving the nation's economic policy. let's go live there now and join our india business reporter nikhil inamdar. for those voting at the moment, what is top of their agenda, what are they thinking about when they cast their votes?— they thinking about when they cast their votes? . , ., .., , ., their votes? well, you can see i am here outside _ their votes? well, you can see i am here outside a _ their votes? well, you can see i am here outside a big _ their votes? well, you can see i am here outside a big bowl— their votes? well, you can see i am here outside a big bowl and - their votes? well, you can see i am here outside a big bowl and in - here outside a big bowl and in mumbai. this is the financial capital of the country. it is where the billionaires live, where the big

companies are headquartered and the economy is on top of the minds of people. this is also a city of sharp inequities. you have millions of people living in shanty in slums, so things such as affordable housing, inflation, unemployment or national issues also on the top of people in mumbai. and then there are local issues, this is a city that is situated in a state which has seen a lot of political infighting, a lot of shifting alliances. the voters will have that in their minds, as well. logically, this is a city that is seen as being a bit politically apathetic, where voting turnout are not as high as in other parts of the country. we are two hours away before voting finishes and we will have to see if anything changes this time around. have to see if anything changes this time around-— have to see if anything changes this time around. ,, . , .,, ., .,, time around. since people voted last time around. since people voted last time in mumbai _ time around. since people voted last time in mumbai there _ time around. since people voted last time in mumbai there has _ time around. since people voted last time in mumbai there has been - time around. since people voted lastj time in mumbai there has been quite a lot of change in mumbai, as the

city it has changed quite significantly.— city it has changed quite significantly. city it has changed quite sianificantl . ., significantly. indeed it has. one of the wa s significantly. indeed it has. one of the ways that _ significantly. indeed it has. one of the ways that changes _ significantly. indeed it has. one of the ways that changes visible - significantly. indeed it has. one of the ways that changes visible is i significantly. indeed it has. one of| the ways that changes visible is the massive infrastructure build—up. there is a new coastal road that has come up there, see bridge that connects to the new airport that is going to be coming up. infrastructure certainly will be on the top of the minds of people injured —— in mumbai. there is a big plan to redevelop one of the world's largest sha ntytowns, so plan to redevelop one of the world's largest shantytowns, so people from mumbai will be looking at those things as they cast their ballots today. now let's take you to the orkney islands in the north of scotland, where the communities there have established themselves as a hub for clean energy. there's plentiful wind power and an array of prototype wave and tidal power projects. now there are plans to focus that same pioneering spirit in another area — clean and cheap sea transport. theo leggett reports.

for the people of the orkney islands, ferries like this one offer a vital lifeline. the islands lie some ten miles off the north coast of scotland. they are connected to one another and to the mainland by a network of ferry routes. absolutely vital. ships like this, this is the only means of transport to certain islands in orkney, so if the boat isn't going, there is no way of getting goods and services off the island, so they have to be very robust and reliable to maintain the service and the range of weather conditions we do experience in this area. but many of the ferries serving the islands are ageing and costly to run. they also burn diesel, producing a significant amount of carbon emissions. now people here are looking to the future and thinking of ways to make the network leaner and more efficient. it is a 25 kilowatt turbine. this is one of them. andrew banks runs a ferry service

to and from the islands. this wind turbine provides his vessels with all the power they need when they are moored up between services. he is also invested in modern catamaran ferries but he thinks in the future more radical technologies will be needed. for me, i think the way forward is hydrogen, because in orkney we produce so much electricity and we are well placed to produce hydrogen. it is not the only possible solution. a trial of two fully electric hydrofoils is due to start on interisland services from next year, backed by £15.5 million of government money. ferries like these offer vital economic and social links to the island is here in orkney but the lessons learnt here about making them cleaner, more efficient and cheaper to run will notjust be relevant for the orkney islands, but also for other remote communities across the globe.

in other news, elon musk and the indonesian health minister have launched spacex's satellite internet service for the nation's health sector, aiming to improve access in remote parts of the sprawling group of islands. starlink was launched at three indonesian health centres, including two in bali and one on the remote island of aru. also this week, microsoft will host its �*build' developer conference, which kicks off tomorrow. the tech giant is set to showcase its latest artificial intelligence projects, including how ai will be embedded into windows and how users can use it on their own personal computers. lets take a look at the markets. the ftse 100 the ftse100 is up by a quarter of 4% the ftse100 is up by a quarter of li% and all the markets across europe following suit. the price of oil is

coming down a little bit. it spike earlier on the news of the death of the leader in iran so there were concerns about what that could mean for the middle east, but that fear has come down a little. the big event for london markets will be on wednesday when we get the latest uk inflation numbers, expected just to commentjust above the bank of england's target rate of inflation. that is all from me, i will see you sooner. —— see you soon.

hello from the bbc sport centre. manchester city are premier league champions for a record fourth time but, amid the celebrations, manager pep guardiola has indicated that he might be ready to move on from the etihad. his contract expires at the end of next season, and he suggested that he may

struggle to find motivation to go for a fifth league title in a row. he's won 17 trophies with city since he arrived in 2016 and said yesterday that he is closer to leaving than to staying. for now though, he and manchester city fans can reflect on another glittering season. in terms of numbers, nobody has been better than us, the records, the goals, the points, four in a row. i said before, ifi goals, the points, four in a row. i said before, if i had landed here and you would say to me that i would win six premier league is, i would not believe it. we have done something unbelievable. so doubts over the future of pep guardiola at city — he said he'd miss the presence ofjurgen klopp in the premier league — the liverpool manager an inspirationalfigure to him since hejoined city eight years ago. but klopp bid farewell to anfield yesterday after his side beat wolves 2—0. of 167 league games

at anfield during his nine years in charge he lost only 12.