:00:08. > :00:12.President Trump pulls out of the parrot climate agreement, his
:00:13. > :00:19.supporters may be happy but how will it impact Asia? -- Harris climate
:00:20. > :00:30.agreement. Skype gets a makeover, we will show you the new features and
:00:31. > :00:35.why it is competing with Snapchat. Welcome to this Friday edition of
:00:36. > :00:41.Asia Business Report. President Donald Trump has withdrawn from the
:00:42. > :00:46.Paris climate treaty. The decision means the US is only one of three
:00:47. > :00:50.countries beside Syria and Nicaragua to oppose the global effort to
:00:51. > :00:59.tackle climate change. But he says he is open to re-negotiating the
:01:00. > :01:06.deal. In order to for furl my solemn duty to protect America and its
:01:07. > :01:20.citizens, the United States will withdraw from the Paris climate
:01:21. > :01:28.accord. But, begin negotiations to re-enter either the Paris Accord,
:01:29. > :01:37.or, in entirely new transaction. In terms that are fed to the US, its
:01:38. > :01:43.businesses, workers, people, taxpayers. So, we are getting out,
:01:44. > :01:49.but we will start to negotiate and see if we can make a deal that is
:01:50. > :01:54.fair. If we can, that is great. If we can't, that is fine. Past US
:01:55. > :01:59.presidents, including Bill Clinton and Barack Obama, as well as many
:02:00. > :02:02.American allies expressed disappointment. Some bosses took
:02:03. > :02:07.exception to the decision, including the head of Tesla and on musk and
:02:08. > :02:17.the Disney chief executive Bob Eiger, they have both quit President
:02:18. > :02:22.Trump's councils. It is there to say that corporate America certainly
:02:23. > :02:27.does not share the President's view which was a dark and pessimistic
:02:28. > :02:34.vision of the economy, had America stuck with the deal. He even had
:02:35. > :02:40.major oil companies standing out in favour of the Paris Accord, names
:02:41. > :02:47.like Exxon Mobil, Chevron, BP, Shell, all saying they favour the
:02:48. > :02:51.deal. We have had a lot of reaction on Twitter, the boss of GM, seen as
:02:52. > :02:57.a bellwether as he is a huge conglomerate. He said he was
:02:58. > :03:00.disappointed with the decision today on the Paris Agreement, climate
:03:01. > :03:07.change is real and industry needs to agree. Damning words from him. We
:03:08. > :03:12.heard from Amazon, putting a statement on Twitter saying that
:03:13. > :03:14.they believe for a bust clean energy and climate policies can support
:03:15. > :03:20.American competitiveness, innovation and job growth. It is worth pointing
:03:21. > :03:24.out there are some companies who have come out in favour of what the
:03:25. > :03:30.president announced today. Unsurprisingly, many in the energy
:03:31. > :03:36.sector, especially the coal industry, Murray energy spoke of how
:03:37. > :03:40.good this would be, and Peabody energy, the leading coal company,
:03:41. > :03:43.saying it would be a good deal for electricity security. Thank you.
:03:44. > :03:51.Wall Street closed higher following his plan to withdraw from the Paris
:03:52. > :03:53.climate agreement. Several business executives disagreed. President
:03:54. > :03:59.Trump said it would be good for the US economy and it seems that
:04:00. > :04:03.investors agree. The Dow and the Nasdaq are at record highs, a lot of
:04:04. > :04:09.this had to do with the fact that we had good economic numbers from the
:04:10. > :04:20.US Asian markets, just opening and taking the keys from the US.
:04:21. > :04:29.Australia is making a lot of gains. World leaders that we heard from
:04:30. > :04:35.earlier, as well as American allies, they all expressed disappointment as
:04:36. > :04:38.I said earlier. I spoke to Peter Godfrey from the energy Institute in
:04:39. > :04:44.Singapore and asked who would pick up the slack now that the USA has
:04:45. > :04:49.turned its back on climate change? The EU and China will continue to
:04:50. > :04:54.push the policy of change. It isn't only related to climate change, the
:04:55. > :04:58.focus of today. Very much also on the business of moving and
:04:59. > :05:03.transitioning to a lower carbon economy and to a certain extent to
:05:04. > :05:08.move from a centralised energy system to a more distributed energy
:05:09. > :05:11.system, which renewables begin to start acting. It isn't only about
:05:12. > :05:17.climate change but energy-efficient seat and how we move to a green and
:05:18. > :05:22.clean environment. Obviously, Asia will have to start making its own
:05:23. > :05:28.mind as to where its alliances are. Energy efficiency involves
:05:29. > :05:33.investment, so how will it affect renewable firms around the world who
:05:34. > :05:37.had invested ahead of time, as they have braced for this? In Asia, we
:05:38. > :05:44.can split into three fundamental markets. China, it India, and the
:05:45. > :05:51.Asiata and region well we are now. Each of the regions have different
:05:52. > :05:54.issues when it comes to energy. In China, rapid urbanisation caused
:05:55. > :05:59.pollution and they will make decisions based on reducing their
:06:00. > :06:02.pollution as much as they can. India has different problems, energy
:06:03. > :06:05.intensity is much lower right now and it is an underdeveloped
:06:06. > :06:08.infrastructure so they will need to make decisions about what new
:06:09. > :06:14.technologies are applicable to their area. Asiata is a mixed bag as we
:06:15. > :06:20.have into an easier down the road with a lot of coal. They will be
:06:21. > :06:25.encouraged perhaps to be less accelerated in terms of moving
:06:26. > :06:30.towards those new technologies. That is the big worry, the decision that
:06:31. > :06:34.the US could cause a ripple of that? Correct, that is exactly where the
:06:35. > :06:38.US played a responsible role in that the whole idea of the climate change
:06:39. > :06:41.court was basically for the rich countries in some way to support
:06:42. > :06:48.developing countries in moving towards a cleaner and greener
:06:49. > :06:51.future. Peter Godfrey there. We heard from the former presidential
:06:52. > :06:58.contender Hillary Clinton who said that turning back on that climate
:06:59. > :07:02.treaty is a historic mistake. China and the EU are seeking to save the
:07:03. > :07:11.climate agreement. The Chinese Premier League Chang is due to meet
:07:12. > :07:16.with EU officials in Brussels later. Developing more green technology and
:07:17. > :07:21.helping to raise $100 billion per year by 2020, helping poorer
:07:22. > :07:24.countries cut their emissions. In other business news, AirBnB
:07:25. > :07:28.appointed a dedicated boss for China as it tries to push into the
:07:29. > :07:33.mainland. The appointment of the local head has been a top priority
:07:34. > :07:39.for the home sharing giant as they face stiff competition from others
:07:40. > :07:43.who dominate the market. Facebook has rejected a call by shareholders
:07:44. > :07:50.to reduce the circulation of fake news. They asked to produce a
:07:51. > :07:54.report. The Facebook boss Mark Zuckerberg says it was not necessary
:07:55. > :08:00.as the giant was making it more difficult for fake news spine is to
:08:01. > :08:05.make money from ads. Microsoft is the latest company to take a bite
:08:06. > :08:08.out of Snapchat, adding billions of dollars this year, despite losses,
:08:09. > :08:15.Microsoft has copied some features and built them into the new version
:08:16. > :08:21.of Skype. The company is rolling out features globally in the coming
:08:22. > :08:25.months. Chris Fox has more. Skype has been given a Snapchat style
:08:26. > :08:28.makeover. Microsoft said that the new version of the app has been
:08:29. > :08:34.rebuilt and there are familiar features so that I can now record a
:08:35. > :08:44.video of myself... Then add some stickers. And, posted onto a daily
:08:45. > :08:47.highlights reel. We have seen similar features on other messaging
:08:48. > :08:54.apps, including WhatsApp, Facebook messenger and Instagram. Classic
:08:55. > :09:00.video calling has been given a makeover, share photos within a call
:09:01. > :09:04.without having to leave your conversation, and you can have
:09:05. > :09:07.colourful reactions. I Skype to the vice president of Skype to ask why
:09:08. > :09:13.people would want Snapchat style features in this app... We look at
:09:14. > :09:17.giving our users the tools that they need. People tell us that they use
:09:18. > :09:22.Skype to stay in touch with families. They video call once or
:09:23. > :09:28.twice a week. Then, they felt that they had to go to other applications
:09:29. > :09:31.to share photos or a message. What use is asked was to give us the
:09:32. > :09:37.tools inside of Skype. That is what we have done. You used to be the
:09:38. > :09:42.place to go to use videos, are you not worried that they could turn
:09:43. > :09:48.away from Skype when there is this going on? We have struck a balance.
:09:49. > :09:53.If you don't want stickers and images, you can use it as a
:09:54. > :09:58.medication 's application but on the other hand, if you like to express
:09:59. > :10:10.yourself, that is a swipe away for you. In other news, Fox's reportedly
:10:11. > :10:15.. Several movies have begun shooting and it comes as the Chinese media
:10:16. > :10:21.giant adds Hollywood movies to their digital publishing platforms. That's
:10:22. > :10:22.all for this edition, of Asia Business Report. Thank you for
:10:23. > :10:32.watching. President Trump has confirmed
:10:33. > :10:39.that the United States will withdraw from the Paris agreement
:10:40. > :10:41.on combating climate change. Police say the motive for an attack
:10:42. > :10:45.on a casino in Manila is likely