:00:00. > :00:09.This is Business Live from the BBC with Ben Thompson and Sally Bundock.
:00:10. > :00:20.European leaders look to the United States
:00:21. > :00:34.Live from London, that's our top story on Monday, 23rd November.
:00:35. > :00:38.But as America enters the shale gas fray - we'll assess
:00:39. > :00:41.the impact on other major energy players - and what it means
:00:42. > :00:54.drugs giant Pfizer is on the verge of a $150 billion deal for
:00:55. > :00:57.We'll bring you confirmation as soon as we have it.
:00:58. > :01:00.And with Brussels on a third day of lockdown over
:01:01. > :01:03.security fears, we'll discuss the toll a terror alert is taking
:01:04. > :01:13.And from dorm room to boardroom we hear from the man who redefined
:01:14. > :01:17.the face of social media by founding Hootsuite - a site that manages
:01:18. > :01:26.And Jack Dorsey has revealed the secret to running two tech giants
:01:27. > :01:30.at once - he's the boss of Twitter and the payments firm Square.
:01:31. > :01:33.He says it's all down to having "great people around him".
:01:34. > :01:36.So today we want to know - can you do two jobs at once -
:01:37. > :01:52.Foreign leaders are in the Iranian capital Tehran today for a summit
:01:53. > :02:00.They include Iran, Qatar and Russia, and together
:02:01. > :02:06.the 12 members control over 70% of the world's natural gas reserves.
:02:07. > :02:10.Top of the agenda - how to deal with the growing threat of the United
:02:11. > :02:14.States - which isn't a member of the group but is fast becoming a major
:02:15. > :02:19.Well, some of Europe's largest economies are heavily reliant
:02:20. > :02:28.European countries have instead looked to the United States where
:02:29. > :02:31.vast quantities of gas from fracking has helped push
:02:32. > :02:37.The US is currently a small time player in
:02:38. > :02:40.the export market - because of the infrastructure needed to pressurise
:02:41. > :02:53.But with billions of dollars being invested in export facilities
:02:54. > :02:57.that's expected to change by 2020 - making the US one of the major
:02:58. > :03:00.But what will that mean for the price and the other
:03:01. > :03:10.Joining me now is John Meyer, a Gas Analyst at SP Angel.
:03:11. > :03:15.While these gas exporters gather this week in Iran to talk about the
:03:16. > :03:21.environment, it is changing significantly. Yes, it is, this is a
:03:22. > :03:24.key conference, the major players are getting together to thrash out
:03:25. > :03:30.how they will supply a growing need for natural gas and that is seen as
:03:31. > :03:36.a greener alternative to coal and other fossil fuels. What they will
:03:37. > :03:42.try and do, improve supply at the same time as trying to move some of
:03:43. > :03:48.the high prices that we see in the East, Japan and Korea, towards
:03:49. > :03:52.Western markets, and you can be sure they will try and do a bit of an
:03:53. > :03:58.Opec and raise prices for the rest of us. They are not like Opec, in
:03:59. > :04:02.the sense that Opec is a cartel where they work together as a group
:04:03. > :04:06.and have a significant influence, but this group would like to be like
:04:07. > :04:10.that but they are not. Iran is hosting this event and they want a
:04:11. > :04:14.big part of the action when its market opens up. The Iranians are
:04:15. > :04:21.opening up as we speak, they are setting out new and very flexible
:04:22. > :04:24.contracts, attracting capital, and expertise, but gas is significantly
:04:25. > :04:29.different to the oil market, it is about how you supply and transport
:04:30. > :04:35.that gas, the infrastructure costs billions of dollars, pipelines,
:04:36. > :04:40.terminals, it is very big, and contracts are managed very
:04:41. > :04:43.differently to the oil market. The US is investing those billions of
:04:44. > :04:47.dollars to start in earnest as an exporter of gas, so watch change
:04:48. > :04:52.will that bring? How worried is the likes of Russia? Russia is not
:04:53. > :04:59.worried about US exports, not just yet, the Americans have rules and
:05:00. > :05:03.restrictions in place on the export of petroleum products, anyway, and
:05:04. > :05:09.the infrastructure is there in the US, but they have got to, rather
:05:10. > :05:12.than import liquid gas, they can turn around and start exporting more
:05:13. > :05:17.of it, but I do not think there will be a rush. Prices are cheaper in
:05:18. > :05:23.America, but it's a question of supply, and I think Europe will be
:05:24. > :05:26.majorly supplied by Russia, Algeria, and other countries which already
:05:27. > :05:32.have pipelines in place. John, thanks for joining us. If we get any
:05:33. > :05:36.news out of that forum which is ongoing in Iran, we will update you.
:05:37. > :05:40.And now some other The mayor of Buenos Aires,
:05:41. > :05:42.Mauricio Macri, has won Argentina's It brings and end to 12 years
:05:43. > :05:48.of centre-left Peronist government. Mr Macri, who is a conservative, has
:05:49. > :05:51.promised to liberalise the economy The pharmaceutical giant Pfizer is
:05:52. > :05:55.reportedly on the brink of striking a $150 billion
:05:56. > :05:58.deal to take over Allergan. The merger would create the world's
:05:59. > :06:00.biggest drug maker by sales. If it goes ahead, Pfizer's chief
:06:01. > :06:03.executive, Ian Read, will be chief China's state planner has approved
:06:04. > :06:10.a $12.6 billion high-speed The rail link will run between the
:06:11. > :06:18.Northern Chinese cities of Yin-chuan to Sheean in neighbouring Shaanxi
:06:19. > :06:33.province - that's around 618km. news: This is what is being
:06:34. > :06:38.discussed on the business live page online, and they have posted a story
:06:39. > :06:42.about the French services sector, growth slowing in the wake of the
:06:43. > :06:48.attacks in Paris on the 13th of November.
:06:49. > :06:53.We will also discuss about the effect of the shutdown in Brussels,
:06:54. > :06:58.which is a small economy, but strategically very important. We
:06:59. > :07:03.will assess what that can mean. It might seem very trivial in
:07:04. > :07:09.comparison, but this is one which at the time got a lot of attention,
:07:10. > :07:13.about health studies which highlighted the impacted of eating a
:07:14. > :07:18.lot of bacon and sausages and the possible effects of that causing
:07:19. > :07:21.cancer, but apparently since that report there has been a fall in
:07:22. > :07:27.sales because of fears of what it might do to your health. A
:07:28. > :07:29.significant fall, so for farmers and businesses and retailers involved in
:07:30. > :07:32.the industry, that is a big effect on them. Plenty of details on the
:07:33. > :07:35.live page. Let's take you to Asia now -
:07:36. > :07:38.where concerns are growing the for the Chief Executive and Chairman of
:07:39. > :07:41.one of China's largest brokerages. He's been missing since the 18th
:07:42. > :07:44.of November. Rajeshni is in Singapore
:07:45. > :07:58.and following this for us. What do we know? Very little. The
:07:59. > :08:02.Hong Kong unit said it has not been in contact with its chief executive
:08:03. > :08:08.since last week Wednesday, the company told the stock exchange it
:08:09. > :08:15.would be replacing him with a temporarily CEO and their shares
:08:16. > :08:20.fell by as much as 17% this morning. What we do know, the replacement was
:08:21. > :08:24.the deputy head of the firm, and he was invited to assist with an
:08:25. > :08:29.anti-corruption investigation in December last year. We have seen
:08:30. > :08:37.China's brokerages and a growing scrutiny because of the mainland
:08:38. > :08:47.stock market slumping in the summer. -- under a growing scrutiny. Thanks
:08:48. > :08:56.for joining us. These are the numbers.
:08:57. > :08:58.Pretty thin trade in Asia this Monday - with Japan's
:08:59. > :09:06.That's Friday's close for the DOW in New York, but remember US markets
:09:07. > :09:09.will be closed this Thursday for the Thanksgiving holiday and it's
:09:10. > :09:14.But in Europe, this is how the numbers have opened:
:09:15. > :09:20.Ahead of what's expected to be a pretty patchy week of trading.
:09:21. > :09:24.Concerns over the latest terror threat still spooking investors.
:09:25. > :09:31.Stocks in defence companies rising this morning, after the UK announced
:09:32. > :09:34.it was going to boost anti-terrorism measures by 30%. We have seen a rise
:09:35. > :09:41.in the stocks of things like Bae. Despite rebounding after the
:09:42. > :09:43.tragedy in Paris, and the subsequent Businesses are also assessing what
:09:44. > :09:47.the terror threat could mean in In Brussels,
:09:48. > :09:50.schools and trains remain closed We'll discuss that in a moment,
:09:51. > :09:58.but first Michelle has all you need to know for the business day ahead
:09:59. > :10:08.on Wall Street. Welcome to a shorter trading week
:10:09. > :10:10.than usual, US markets will be closed on Thursday for the
:10:11. > :10:15.Thanksgiving holiday and early on Friday. That does not mean there is
:10:16. > :10:20.a shortage of economic data to look at, from revised growth figures to
:10:21. > :10:25.the US housing market, plenty to give a sense of the health of the US
:10:26. > :10:31.economy. Figures out on Monday are respected to show that existing home
:10:32. > :10:37.sales actually slowed in October, -- expected. Moderate growth has been
:10:38. > :10:40.forecast for next year, and this comes as the US housing market
:10:41. > :10:45.enjoys its best year since the financial crisis. Also, watch out
:10:46. > :10:57.for the outcome of trade talks over the weekend between the world's
:10:58. > :11:00.to... Sorry to interrupt we have a live press conference from President
:11:01. > :11:09.Hollande and David Cameron. TRANSLATION: I have the sound of the
:11:10. > :11:13.French national anthem and the tricolours during the football game
:11:14. > :11:27.at Wembley, and David Cameron, like the British people, has shown a
:11:28. > :11:34.great solidarity. And today, we have replaced a rose out side the
:11:35. > :11:41.Bataclan Theatre to mark our grief and to mark the victims. -- we have
:11:42. > :11:49.placed. The objective this morning was to reinforce, if it is Mrs very,
:11:50. > :11:51.-- if it is necessary, the system of communications to combat terrorism
:11:52. > :11:57.and to have a clear vision of what we have to do against Isis because
:11:58. > :12:03.this organisation is launching a war against us. There is an agreement
:12:04. > :12:09.between France and the United Kingdom with regard questions of
:12:10. > :12:16.defence and we have common obligations beyond what we can do
:12:17. > :12:23.within European governments, and we want to act on the 1 hand to protect
:12:24. > :12:32.our people's populations and also outside our territories, like in
:12:33. > :12:37.Syria, to protect our territory and people, we will have exchanged
:12:38. > :12:43.further information and improve the system of information and to be more
:12:44. > :12:47.efficient. And the European plan, decision should be taken, and this
:12:48. > :12:56.is why it was imperative that the interior ministers last Friday were
:12:57. > :13:00.able to focus on the border controls to combat arms trafficking and to
:13:01. > :13:09.take decisions and to act as fast as possible. We should also coordinate
:13:10. > :13:18.our efforts on the international front. The United Kingdom, like
:13:19. > :13:26.France, is part of a coalition in Iraq and we should make sure that
:13:27. > :13:29.our strikes are effective. We will have two act inside Syria, France
:13:30. > :13:37.has taken this decision last September, and it is up to the
:13:38. > :13:47.United Kingdom is how it can commit and operate but as far as France as
:13:48. > :13:51.concerned it will Kari Arnason -- Carreon, we will intensify our
:13:52. > :13:56.strikes and we will choose a target which will yield the best possible
:13:57. > :14:01.damage against the terrorist army, and our aircraft carrier will arrive
:14:02. > :14:05.soon in the area will stop it has been mandated clearly to launch
:14:06. > :14:16.strikes, strong strikes, against Isis. We will back our decision and
:14:17. > :14:21.the United Nations Security Council resolution which will describe the
:14:22. > :14:28.objectives for the international community, to destroy its Isil and
:14:29. > :14:31.to find a political solution in Syria, we are working on this
:14:32. > :14:37.alongside David Cameron for the past three years. The political solution
:14:38. > :14:42.is to be able to form a government of national unity and to say clearly
:14:43. > :14:49.President Assad cannot be part of the future of the country, that he
:14:50. > :14:53.has contributed to a massacre. Within this condition, the process
:14:54. > :15:02.is the best framework and the best formula and we should act so that a
:15:03. > :15:04.number of countries will have this objective to find a particular
:15:05. > :15:15.solution in Syria, but at the same time we carry on hitting Isil.
:15:16. > :15:20.Finally, we wanted, and the European level, to have a new decision, I'm
:15:21. > :15:23.thinking about passports, names, records, and the control of air
:15:24. > :15:32.traffic, and the exchange of information. About people coming in
:15:33. > :15:37.and leaving the country, for foreign frontiers, we should be certain that
:15:38. > :15:42.the people who come to our countries cannot be accomplices of terrorists
:15:43. > :15:50.or intend to carry out terrorist actions bust up the verifications
:15:51. > :15:54.done on entry to the European Union should be certain information for
:15:55. > :15:59.our services and today I would like to underline not only the friendship
:16:00. > :16:05.between France and the United Kingdom, but also the responsibility
:16:06. > :16:12.that we share and it will lead us to make our choices in the face of
:16:13. > :16:23.terrorism and to protect our populations because it is our
:16:24. > :16:26.responsibility today. Paris and its people have shown such courage and
:16:27. > :16:30.determination and resilience, a city where millions came out on Friday
:16:31. > :16:34.night to live their lives and to send a very clear message to the
:16:35. > :16:40.terrorists, that you will never win, you will never beat us. One week on
:16:41. > :16:43.from the terrorist attacks, our thoughts are with all those who lost
:16:44. > :16:48.loved ones and with the injured who are still recovering. I want to
:16:49. > :16:51.praise the swift and decisive action taken by the French authorities in
:16:52. > :16:58.response algebra vent further attacks in Paris. And in particular
:16:59. > :17:01.to pay tribute to the bravery of police officers in France, it is
:17:02. > :17:04.right to take decisive action to stop terrorists when they are
:17:05. > :17:09.threatening the lives of innocent citizens. United Kingdom will do
:17:10. > :17:10.everything to support our friend and ally France to defeat this evil
:17:11. > :17:21.death cult. Today, President Hollande and I have
:17:22. > :17:24.have discussed how we can strengthen the counter-terrorism strategy
:17:25. > :17:28.between our two countries. Let me say a word about each. First count
:17:29. > :17:33.are terrorism. We face a shared threat and we must share information
:17:34. > :17:36.and intelligence to better protect ourselves from these brutal
:17:37. > :17:40.terrorists. The UK and France are already doing this, but today we
:17:41. > :17:43.have agreed to step up our efforts even further and to work more
:17:44. > :17:47.closely with our European neighbours. In particular, we must
:17:48. > :17:52.do more to tackle the threat of returning foreign fighters. This
:17:53. > :17:58.requires a Pan-European effort. We need a stronger, external EU border
:17:59. > :18:00.to protect our security more effectively with screening,
:18:01. > :18:05.systematic security checks and greater sharing of data amongst
:18:06. > :18:08.member states. We must without further delay, finally agree the
:18:09. > :18:11.rules that will enable us to share passenger name records. It is
:18:12. > :18:15.frankly ridiculous we can get more information from countries outside
:18:16. > :18:25.the EU than we can from each other and we must do more to crackdown on
:18:26. > :18:28.on the trade of illegal firearms. I welcome the strong backing of the EU
:18:29. > :18:33.justice and home affairs council for the measures, but now we have got to
:18:34. > :18:38.turn those words into actions. We simply cannot afford to wait any
:18:39. > :18:44.longer. While we do more to protect ourselves here in Europe, we must do
:18:45. > :18:48.for mo defeat Isil. The UK is playing its parts a member of the
:18:49. > :18:51.counter Isil coalition, striking targets in Iraq, providing
:18:52. > :18:57.intelligence over the skies of Syria and helping our allies with vital
:18:58. > :19:00.air to air refuelling. On Friday, the United Nations unanimously
:19:01. > :19:05.backed action against Isil in Syria and Iraq. And later this week, I
:19:06. > :19:09.will set out in Parliament our comprehensive strategy for tackling
:19:10. > :19:14.Isil. I firmly support the action that President Hollande has taken to
:19:15. > :19:19.strike Isil in Syria and it is my firm conviction that Britain should
:19:20. > :19:24.do so too. Of course, that will be a decision for Parliament to make.
:19:25. > :19:30.Today I have offered President Hollande the use of a RAF base for
:19:31. > :19:33.French aircraft and additional assistance with air to air
:19:34. > :19:36.refuelling. We discussed ongoing efforts to secure a political
:19:37. > :19:40.solution to the conflict in Syria. We welcome the recent talks in
:19:41. > :19:43.Vienna and we will do all we can to sustain this momentum and to bring
:19:44. > :19:48.all parties to the table so they can agree on a way forward that ends the
:19:49. > :19:53.bloodshed and puts Syria on the path to a more democratic, inclusive and
:19:54. > :19:55.stable future. These have been important talks this morning. Later
:19:56. > :19:59.this week President Hollande have hold discussions with President
:20:00. > :20:03.Obama, President Putin and Chancellor Merkel. It is clear that
:20:04. > :20:07.the world is coming together to tackle this evil terrorist threat.
:20:08. > :20:13.That was clear on Friday night when almost one week after the brutal
:20:14. > :20:16.terrorists murdered people in Paris and sought to divide us, the world
:20:17. > :20:22.united in New York. We have shown our firm resolve and together, we
:20:23. > :20:38.will destroy this evil threat. Thank you.
:20:39. > :20:41.The press conference there between the French President, Francois
:20:42. > :20:46.Hollande and David Cameron. Talking about the response that the two
:20:47. > :20:50.countries would make in terms of defee eting so-called IS. President
:20:51. > :20:55.Hollande making sure that he says, "Our strikes are effective. The two
:20:56. > :21:00.countries must work together." Pointing out that it is up to the UK
:21:01. > :21:04.how it will operate as far as Syria is concerned. David Cameron offering
:21:05. > :21:07.words of reassurance saying that the terrorists will never win and
:21:08. > :21:10.agreeing to step up efforts to share information and intelligence and
:21:11. > :21:15.make sure that the two countries work more closely, calling it a
:21:16. > :21:18.Pan-European effort. As well, both of them pointing out that as the qek
:21:19. > :21:22.progresses there is more discussions with world leaders. President
:21:23. > :21:26.Hollande going to Washington to speak to President Obama. Moscow to
:21:27. > :21:30.speak to President Putin and also speaking to Angela Merkel as the
:21:31. > :21:34.week progresses. Let's go to our correspondent who has been in Paris
:21:35. > :21:40.with us throughout last week and this week. James Longman. James, the
:21:41. > :21:46.two standing side by side. A sign of solidarity there. Both of them
:21:47. > :21:54.talking about more co-ordinated action, stepping up their actions to
:21:55. > :22:00.counter what they call, "Isil." Yes, absolutely and Francois Hollande
:22:01. > :22:09.making it clear that he wants to intensify attacks against IS saying
:22:10. > :22:15.this morning air aircraft carrier sharl degall will be employed. Also
:22:16. > :22:20.talking about political transition, talking about the Vienna talks which
:22:21. > :22:24.were overshadowed by events in France, but which actually brought
:22:25. > :22:27.the international community together around forcing a political
:22:28. > :22:32.transition in the country. So I think there is a two-pronged
:22:33. > :22:36.response here. First to trying to eliminate the IS threat and a sense
:22:37. > :22:40.that political leaders are aware that a political transition needs to
:22:41. > :22:45.take place in Syria whilst also the iflt S threat needs to be
:22:46. > :22:48.eliminated. James, it is interesting we heard from David Cameron there
:22:49. > :22:51.talking about the need for European countries to protect themselves at
:22:52. > :22:56.home, but also to make sure that they do more in Syria. And also from
:22:57. > :22:59.President Hollande there talking about being certain that the people
:23:00. > :23:03.who are coming to Europe are in fact who they say they are and that's all
:23:04. > :23:09.about reinforcing the borders that we have heard so much about?
:23:10. > :23:12.Absolutely. Just earlier this week in Brussels, interior and justice
:23:13. > :23:16.ministers from Europe gathered to talk about just that. Reinforcing
:23:17. > :23:19.the European borders and sharing data, passenger lists, David Cameron
:23:20. > :23:22.saying this morning it was ridiculous that European countries
:23:23. > :23:25.found it easier to get hold of information from outside of Europe
:23:26. > :23:30.than from their allies inside and there was news last night here in
:23:31. > :23:35.France that one of the attackers, another one of the attackers did
:23:36. > :23:39.make his way up from Greece into France, taking advantage of the
:23:40. > :23:44.migration routes that refugees were using to get into western European
:23:45. > :23:53.countries. A real sense that Europe's borders do need to be
:23:54. > :23:57.reinforced and a sense also that Syria and Iraq no is pumping out
:23:58. > :24:02.this extremist threat that needs to be dealt with.
:24:03. > :24:05.James, more from you at the top of the hour I'm sure following events
:24:06. > :24:12.there in Paris. Richard Jeffrey,
:24:13. > :24:14.Chief Investment Officer from Cazenove Capital Management is
:24:15. > :24:23.joining us again to discuss. Brussels remains paralysed right now
:24:24. > :24:30.with a high level security alert in place. Your reaction to all of this
:24:31. > :24:34.going on whilst businesses, markets are still trying to carry on as if
:24:35. > :24:41.business as usual. Well, that's is the point, I think. When you look at
:24:42. > :24:45.this intense political situation and the threat from Isil, economies need
:24:46. > :24:52.to work as usual if they can. I think the risk is that we see a
:24:53. > :24:55.prolonged escalation of this higher security situation and that could be
:24:56. > :24:59.damaging to consumer confidence because clearly, if you get
:25:00. > :25:02.lockdowns in a lot of major cities that's going to hit consumer
:25:03. > :25:06.confidence. If they are major cities, that could actually have an
:25:07. > :25:13.economic consequence as well. It is a critical time as well, for some
:25:14. > :25:16.cities. Belgium, it is about the Christmas fairs that attracts
:25:17. > :25:21.American travellers and travellers from all over the place? It has a
:25:22. > :25:24.lot of implications and a large proportion of the retailer's sales
:25:25. > :25:27.are achieved during the Christmas period whether in the run-up or in
:25:28. > :25:31.the New Year. It could have serious consequences. What we have been used
:25:32. > :25:38.to, I think, we have had an event and then the impact of that event
:25:39. > :25:42.has disappeared quickly and hasn't been a big measurable economic
:25:43. > :25:50.consequence. This time, it could be different. Richard, good to see you.
:25:51. > :25:54.Thank you for talking throughs that. Full covering of those events in
:25:55. > :25:55.Paris at the top of the hour. We will see you at the same time
:25:56. > :26:12.tomorrow. Bye-bye. Hello there. It was another cold
:26:13. > :26:13.start, wasn't it? But throughout this week, we are gradually going