02/03/2016 BBC Business Live

This is Business Live from BBC News with Victoria Fritz and Sally

The morning after Super Tuesday points to a Trump versus Clinton

race to the White House, but what does this mean

Live from London, that's our top story on Wednesday, 2nd March.

Sweeping victories for Donald Trump and Hillary Clinton

after Super Tuesday with presidential elections

in November but what are their plans and promises for the world's biggest

It's the latest buzz from the Geneva Motor Show,

They're not on the road yet, but the boss of Renault-Nissan

Carlos Ghosn tells us consumers are ready for for this

On the markets, the global equity is gathering momentum.

We'll be getting the inside track on the art of finding

you the perfect job - recruitment is BIG business -

James Reed the boss of the global giant Reed Group will be with us

So if you have a question for him you know how to get in touch just

The British Pilots Association is calling on governments

to research the effects of drones hitting planes.

What risk do they pose? Send us your comments.

The race to the White House hots up as Donald Trump and Hillary Clinton

win sweeping victories at Super Tuesday.

It s now more likely than ever that the two will go head-to-head

This week, we're looking at the economic pledges

Today, we look at what the billionaire businessman,

Donald Trump, has said about how he would manage

Trump says he'll bring back American jobs by slapping tariffs

He's threatened a 35% tax on cars made in Mexico and tariffs

But economists argue its Americans who would ultimately pay higher

prices, as US industry benefits from cheaper imports.

He's threatened to send home millions of immigrants.

But experts ask would Americans do these largely menial, low-paid jobs?

Cutting taxes is another one of Trump's cards.

In the past, he's said those earning less than $25,000

And corporate income tax would be cut to 15% to stop US corporations

moving to low-cost tax havens around the world.

But do any of these promises amount to policy?

Linda Yueh is a Professor at the London Business School joins

Lovely to see you, Linda. Raez Still a long road ahead. Lots of twists

and turns and they are not nominees yet. But obviously we are weighing

up what either of them could mean for the world's in one of the most

economies in the world. Give us your take on what Trump means for the US

economy? He certainly means a larger national debt and the reason is if

you look at his pledges which I should stress, Sally, tend to change

on the campaign trail. He is not entirely consistent if I can put it

that way, but from what he has said and one of his main centre pieces is

cutting taxes. He would add, it is estimated, something like $12

trillion to the US economy which is a $16 trillion economy. So the level

of debt would go up because he is not matching the tax cuts with any

spending, here is my favourite line from this, if you're going to cut

taxes by that amount and you don't want to add to that, you need the

economy to grow. The US economy would need to grow by 10% to pay for

his tax cuts without pushing up the debt. One of the ideas he has

floated though, but not recently, as you say, they keep changing, is a

one-off tax on the wealthiest in the US, a 14% one-off tax on their

entire wealth and that's his argument as a means of getting some

money in the pot? Yes. I think what's interesting is if you look at

his appeal, he wants to appeal to predominantly working Americans and

so therefore, he differentiates himself from making these big tax

cuts which go to the wealthy by saying he would tax the wealthy in

some respects, yes, he floated that. He has also floated things like

changing and cutting taxes on the high earners. The overall position

that he would put America in would be one that's similar to what a lot

of Republicans said in the past, they want a lower tax burden,

America in general has a reasonably high tax burden, but arguably too

many loopholes as candidates would like to say, but I think in general

the problem is his pledges don't really add up and I don't think he

is unusual by the way in that. Most people, when they are on the

campaign trail, probably make too many promises they can't really

keep. Yes, that's how he is trying to appeal to the working person,

even though he is a billionaire! Pledges are otherwise, if you cast

your mind back over the rhetoric that we heard interest Donald Trump,

a lot of it is protectionist and a lot of people would say that's not

good for the US economy, but the US economy already is quite

protectionist, just overnight they slapped a load of extra tariff on

countries for trade around the world. How different would a Trump

presidency and an economy under Trump really be from what we are

seeing already? I think his red ricket on trade is quite

protectionist. He targets China and the currency. But I do wonder on

that, whether or not when he comes into, if he were to come into

office, whether or not, as he has already said, most of his pledges

are flexible, in general Republicans like him tend to be more pro-free

trade than Democrats and that's usually, Obama, you can argue is

more like a Clinton, Bill Clinton, not Hillary Clinton, much more open

on trade. So I think on that front, he is his rhetoric is not going to

help and I think one of the things that he is probably raising a lot of

concerns for countries around the world is his stance on trade and

actually foreign policy in general. Of course immigration policy is

another one, but I suppose my favourite Trump pledge at the moment

is on immigration, he wants to build a wall between the US and Mexico and

he wants Mexico to pay for it! I don't think we can take what he says

on the campaign trail at this point to be gospel, but it is becoming one

of the big debating points for Trump. There is an off the record

chat he had with the New York Times where he revealed to say, he said

well, when you're in office, you have to negotiate with Congress and

secretly, I think, people are beginning to think he is more

flexible than his more staunch stances would suggest. It will be a

very entertaining few months ahead. Thank you very much, Linda, for

coming in and giving us your prospective on what Donald Trump

stands for at the moment, but it is changing all the time and we will

focus next on Hillary Clinton's policies. That will be in another

Business Live in the near future. Hopefully tomorrow.

The oil giant Shell is being sued in London for the second time

in five years over spills in the Niger Delta.

Two communities are claiming compensation and want Shell to clean

Shell said it is at an "early stage" in reviewing the claims

and that the case should be heard in Nigeria.

The US ratings agency Moody's has cut its outlook for China

The debt rating, however, was left unchanged.

But the agency warned that reforms were needed to avoid a downgrade.

Moody's said the change in outlook was based on expectations that

Beijing's fiscal strength would continue to decline.

New data shows China's economy is continuing to lose steam.

Qualcomm has been fined for hiring relatives. The First Minister

provided gifts and travel and entertainment to influence

officials. The company did not admit or deny the allegations and this

would be between 2002 and 120. 2012. Lots more on the Business Live page.

This is a story that caught our attention. Brexit would shrink UK

financial services industry so says BlackRock.

Could the worst of the global commodity rout be over?

Well, we had a hopeful sign from Australia.

Its economy outpaced all forecasts to grow at the fastest pace

For more, our Asia business correspondent Karishma Vaswani

Always lovely to see you. So there, is quite a glimmer of hope, isn't

it? Some sunny news from Australia. Indeed, Sally. Australians must be

feeling pretty smug about the way their economy is going these days.

Now, despite that collapse in global commodity prices that you were

talking about, Australia has managed to escape recession yet again,

confirming that it is the cliche of all cliches, the lucky country after

all. Let's talk you through the numbers. The economy grew by 3% in

the three months ending December 2015, that's compared to the same

period a year ago and remember, this comes against the backdrop as one

analyst put it to me, the greatest mining pull back in Australia's

lifetime. Now, compared to the third quarter, growth was up about 0.6%,

that beat market expectations, so what are Australians getting right

Sally? Well, I was there on a recent reporting trip and looking at the

economy there and how badly it has been hurt by the apparent end of the

mining boom, but one that really struck me, many in the industry told

me that even though low global prices are hurting the mining

sector, Australia still has one of the most low-cost, and hi-tech

mining sectors in the world. So mining sectors in the world. So

that's certainly helping it. Thank you so much.

Data out from the US shows that perhaps the picture on manufacturing

We've seen solid buying across the region.

The Nikkei closing at highs of the day.

The yen is weaker. This is how things have opened up at

the moment. Just a fraction higher, about a third higher.

Let's hear from Michelle Fleury about what's ahead on Wall Street

We will get the jobs report and we will get a taste of the labour

market, February's ADP report on private payrolls should show an

increase of 190,000 jobs, but that's down slightly from January's figure.

The latest collection of economic anecdotes from the Federal Reserve's

12 regional banks will be released in the afternoon, the beige book may

show the world's largest continues to flash mixed signals. Look out for

reports from aber copl bee and Fich. These two may have seen their

revenues dragged down by unsees bleu warm weather this winter.

He's an Investment Director at Fidelity Worldwide Investment.

Everywhere is going up. We have had a strong session on Wall Street. It

is happening at the moment in Europe. And yet, China being

highlighted as a risk from Moody's which doesn't seem to be affecting

people's sentiment today? Well, the bull markets always climb a wall of

worry. Wall Street has set the tone last night and I think what is

happening there, you know, over the first couple of months of this year,

there was a growing fear of recession led by the United States.

I think the data that we're getting coming through now suggests that is

less likely so the manufacturing figures, they were not great, but

they were better than expected. Inflation is beginning to nudge up.

So I think the feeling is that interest rates probably will start

to push higher this year. There was a fear that maybe they wouldn't rise

at all. That's good for the banks. We have seen the oil price rise.

That's good for the energy companies. So generally speaking, I

think the mood is just lightening a bit. There is a sort of sell-off

fatigue after two months of ropey markets. Do you think the worst is

over in terms of that big sell off that we have seen at the start of

the year? Well, that is certainly the implication of the data that

we've got and the mood in the markets. These sell office can only

go on for so long and two months is a long time. Markets fell a lotment

we had a bear market in many markets around the worldmed we had one in

the UK. Yes, I do. Just quickly, of course, what's the

next thing coming up that could cause the mood change? On Friday we

have got the jobs report in the United States. People are now

talking again, aren't they, about when rates could go up in the US? It

seemed to be off the agenda not long ago. Even last week, to be honest.

There has been a rapid change in sentiment, but you're right, we've

got the jobs figures on Friday, that's important. On 16th March, we

have got the next Federal Reserve meeting. That's going to be

important. It is unlikely that we will see that second rate rise in

the US in March, but I think the chance of a rate rise in June now

looks much more likely. OK, thank you, Tom. We will see Tom in five

minutes, he will be back to talk through some other stories in the

papers. Still to come:

Mid-week office blues? Got mine here! Yes, we got them

here. Stay tuned for our next guest,

the boss of recruitment giant How does his firm

handle 50 million job You're with Business

Live from BBC News. Let's take a look at a few

of the business stories from around Britain's financial services

industry could shrink if the UK That's according to the world's

biggest fund manager, The firm warned that Britain's

economy would be hit hard by a vote to leave the EU, with equities,

the pound and the London property BlackRock also warned that UK

companies could be blocked from the single market,

if the EU decides to penalise Britain's farming industry

is calling for a contingency plan for agriculture IF we leave

the European Union in Farms in the UK currently receive

around ?3 billion in EU Steph is in the Brecon Beacons

in Wales to find out more. It is looking very dark there, are

you inside somewhere, I assume? Good morning, good morning everybody, let

me just show you where I am. It is lambing season at the moment, and

these guys around me, the mothers and their little lambs, that guy

there is just a day old. Just getting used to life here on the

farm. This is one of 300,000 farms across the UK, and of course one of

the big concerns for them is if we leave the European Union, if the UK

leaves, what will it mean for things like their subsidies? Farms like

these get subsidies, and it helps to keep things steady through the ups

and downs of farming life. Some of them are worried that they will lose

this subsidy if we leave the EU, other farmers are telling me today

that they think, well, actually could it make things less

conjugated, will it be easier to do trade and the money will go directly

to farmers rather than via the EU? These are things I have been talking

to farmers about throughout the morning. They are expecting 30

births here. You can see lots more of the little lambs around me. Last

week, in one day, they had 200 births, would you believe? That is

all from me here on the farm. Is it a bit too brutal to mention

mint sauce, roast potatoes? Smells good! Lots of stories.

Poundland says its Chief Executive Jim McCarthy is to retire. He will

be succeeded by Kevin O'Byrne, the former boss of B You are with

Business Live. You're watching Business Live,

our top story, it was the biggest night of voting so far

on the campaign trail. To find the nominees for the

Republican and Democratic party in the United States. And so far the

result tell us that Donald Trump and Hillary Clinton are the front

runners. Of course it will take them a little bit closer to winning the

nomination for their parties for the battles to the White House. Lots

more on that on the website. It's Wednesday - also

known as hump day - meaning it's a particularly

important day if you're not really enjoying your job -

the bulk of the working week is over Recruitment is big business,

and Reed Group has been making the most of it for generations -

it is the largest family-owned jobs James became Chief

Executive in 1997. His father, Sir Alec Reed,

set up the business in 1960. The company has offices in more than

a dozen countries around the world with over 3500 staff, and eg it

receives a whopping 50 million job applications, helping 140,000 people

find work. And James is with us in the studio to give us the inside

track on the business. Nice to see you. Thanks for coming in.

There are so much to discuss, and I imagine our viewers all over the

world have many questions, especially in the current

environment, trying to find work. Your key audience as it were our

young, I understand, 18 to 30s. And in Europe that is a critical age

facing real challenges. It certainly is, in fact we are there to help

anyone who was on a hump Wednesday, we want people to love Mondays, that

is our message, because we want people to enjoy their work. It is a

particularly important for young people, so we do a lot of work with

young people especially. In Europe in particular, youth unemployment is

chronic. Certainly in countries like Spain, Italy, for example, and is

something that governance have been trying to fix and discuss for many

years, and yet they don't seem to have found the magic bullet, as it

were. And there are lots of different views as to what should be

done. In the end, what we have seen in the labour market is that people

are much more mobile. So it is possible to move from Spain or move

within Spain to get a job somewhere else and were seeing more and more

example, it is a magnet for people example, it is a magnet for people

from all over Europe to come the work. Therefore how much of a

consent of the people you work with, these 18 to 30-year-olds, who would

like to work elsewhere, perhaps in London, perhaps they are watching

from Spain for example, how concerned are they by the threat of

exit, Britain leaving the EU, and the general fragmentation across

Europe we are seeing? We have just done a big survey of job-seekers,

and the majority that responded were very much in favour of remaining in

Europe, but that was particularly true of Europe. 68%, in fact. Then I

think that is because if we were to leave Europe, it closes a lots of

opportunities for young people who could currently work in Germany,

Spain, Greece, or wherever in the 27 countries, and that works both ways.

People might want to come here to work but similarly people from here

looking for opportunities elsewhere. Your company started back in 1960,

and I guess you grew up with it because your dad was running it and

now you are running it. Recruitment has changed phenomenally in that

time, and I must admit when I heard about you coming in, I kind of

thoughtful people looking for work now, there are so many different

avenues, and a recruitment agency is just one of many ways -- many ways

to find work. How have you had to change to remain relevant? The

biggest and most obvious has been in technology, which began with the

internet but moving onto mobile technology as well. People can look

for jobs from their phone, on the tube, on an act. It is easy to find

vacancies but it is a lot more -- on an app. It is very competitive, and

there has also done quite a lot of pressure on wages. So wages haven't

been growing in the way that they used to. Because there are more jobs

available, one is beginning to see that but it is early days. Just

quickly on that, what are you seeing with wages? How have people

responded to the fact wages have remained pretty much flat for a long

time? Since 2009 wages have been pretty flat but they are beginning

to go up now in the more buoyant parts of the labour market, we are

seeing them to increase to .5% on the jobs advertised. Job-seekers are

looking for more than that and I'm hoping they will get it! Wages are

beginning to move upwards but it is very early days. Thank you for

coming in, it has been fascinating having you on the programme. We will

share some of your thoughts on that as well, I know you have been

sending us messages, that to come. On today's programme,

when you hear class-action lawsuit, do you think of the movie

We'll talk to one legal beagle who helps ordinary people take

Now to the revs and roar of the Geneva Motor Show,

where the auto industry is showing off its latest models.

Self-driving - or driver-assisted - cars are making waves.

But it is not always for the right reasons. There have been a few bumps

along the way. Well, we've heard a handful

of stories about safety concerns, most recently Google's car

that crashed into a bus. But the boss of auto

giant Renault-Nissan, Carlos Ghosn, tells us consumers

are ready for for this In terms of safety, it has a lot of

benefit. 95% of accidents on the road are due to human error. So if

you limit interaction between man and machine, you will get a lot of

results, in terms of safety. On top of this, it is about pleasure, it is

about productivity when you are in a car. There are a lot of benefits,

where all our tests are showing the consumers are ready for this

technology and it will bring a lot. You sound very confident but how can

you be sure that customers actually want driverless cars, because after

all you have to sell the cars they drive is want to buy? Exactly, first

we make tests, we have a lot of surveys. Second, as you know all our

research is showing that consumers are extremely interested not only on

the safety side, but on the fact that they will gain back the time

that they decide to gain back while they are driving the car, because

this is not about replacing the driver, it is empowering the driver

and putting them in a condition where the driver can decide whenever

he wants to drive them when he doesn't want to drive. That was the

chief executive of Renault Nissan. Tom Stevenson is back. Lots to chat

about. Not least this story that is actually quite worrying about drones

hitting aeroplanes will stop there have been a number of near misses,

and it is quite concerning what could happen if one went in and

engine, for example. If you think about the damage a bird can cause

when it goes in there and engine, you can imagine the damage that what

is effectively an unmanned aircraft could do. With lithium batteries

inside. Absolutely, which could potentially cause an explosion. So I

can see where the concern comes from, and also I can see the growth

in this market is potentially enormous because the commercial

imperative is to use these drones is very significant, whether you are

Amazon delivering goods within the hour to your customers, or a friend

of mine is a photographer, and he brought a drone, it cost less than

?1000, so they are very cheap. They are, and it's quite scary. Thank you

so much. There will be more business news

throughout the day on the BBC Live webpage, and on World

Business Report. Some of us woke up to a lovely sunny

dawn, others it has been happening, some snow, thunder and lightning and

some hail. Through