02/06/2017 BBC Business Live

Live from London, that's our top story on Friday 2nd June.

President Trump's decision to withdraw the United States

from the Paris climate change agreement has been condemned

Cities across America and nations across the world

say the fight against global warming will continue.

Russia signs a deal to build two new reactors at a nuclear

power station in India - oh, and it's going to loan

Plus, we'll bring you all the latest market reaction

to President Trump's decision - and, in short,

Wall Street stocks powered to fresh records on Thursday,

sending Asia higher, and the upward trend looks set

Later in the programme, we'll be hearing about the reaction

of technology companies to President Trump's

decision to quit the Paris climate agreement.

Plus, we'll talk about Snapchat and Amazon -

that's all with our techology guru Rory Cellan-Jones.

And today we want to know what you think about America leaving

Paris climate agreement - is the deal now in tatters,

or can the rest of the world manage without America?

President Trump has said he will pull the United States out

of the Paris climate change accord, calling it an unfair agreement that

would hamstring the American economy while empowering

In a few hours, Chinese and EU leaders will issue

their joint statement on the Paris climate agreement.

China has already said it will honour its commitments

So, how much common ground is there between the EU and China

In 2016 almost 90% of NEW power in Europe came

from renewable sources - that covers wind, solar,

In particular, wind energy has now overtaken coal as the EU's second

The EU plans to source 20% of its energy from

So far 11 member states have met this goal -

But Germany, France and the UK have yet to meet their targets.

It still uses half the world's coal -

but use of the black stuff is falling.

In 2016 it dropped for the third year in a row.

China is now investing heavily in renewables -

it hopes to put more than $780 billion into

China has already got the world's largest installations of hydro,

But many Chinese grid operators are still set up to use coal -

so renewable energy is getting wasted.

Greenpeace estimate 19% of Chinese wind power didn't get used

in the first three quarters of last year.

Trevor Sikorski is the Head of Natural Gas Carbon

He joins us in the studio. Thanks very much for coming in. Donald

Trump says America is out. We are expecting to hear from Chinese and

EU leaders in a few hours. What do you expect them to say? I think they

will reaffirm their commitment to the Paris agreement. The Paris

agreement was very much countries coming to the table saying, "This is

what we are going to do, these other domestic policies we have in place

for reducing emissions". The idea was that the world at that and put

on pressure for people to do more so I think both the EU and China will

come out and say they are still on track of it, still good with the

Paris agreement. The Paris agreement is still going to be a strong

agreement. Is problematic that the US is out but they will say they

will provide leadership globally. How problematic is it that the US is

at? It is not about reducing emissions. The US was also pledged

to provide finance and innovations to help other countries reduce their

emissions. I think the biggest impact is on those financial

commitments. There are some big commitments whether developed world

is supposed to help the developing and emerging markets to adapt and to

finance mitigation efforts in those countries. It is about 100 billion a

year from 2020 to 2025 with an expectation that number would go up

and those numbers are going to be very, very hard without, I would

say, a big strong US presence because it is such a big country.

That is very good at mobilising capital without them.... Without

is the reaction within the USA? is the reaction within the USA?

Hours and President Obama signed the agreement, green energy boom that

the US. What will happen to that? That is one of the big losers in a

way from this. When you look at renewables, it is pretty patchy in

the states. Some states are very good and active in the renewable

space, others aren't. I think what will happen now is that those states

which are still active will have to step up, maybe do a bit more because

some of the federal support for renewables may start to come away

from this, particularly tax credits, which are really important. I think

those can be taken away. The states are going to have to step up and I

think a lot of them will step up but those states that are doing nothing,

there is going to be no pressure to really get into renewables, which is

what Paris probably would have done if the US was going to be complying

with what they said they would do. We have a ready heard from the

coastal states, saying they will still forge ahead with their plans,

despite his agreement. Absolutely and so I think you have some states

which are very good on renewables and will continue to be good on

renewables. A lot of people in the USA will see that coming out of

Paris as a terrible thing for the USA and they will do things locally

to ensure that emissions reductions are continuing to be made in the US

and that US companies are on the forefront of technology development.

This is a really important space to be in globally. I think we are going

to see a revolution in energy, particularly in power and power

generation and I think that will affect transport. You have to be in

that space and if you're not, it will be problematic. Trevor, thank

you very much for your time. Let's take a look at some of

the other stories making the news. President Trump has asked the US

Supreme Court to allow his revised travel ban which targets visitors

from six mainly-Muslim countries. It follows an earlier decision

by several lower courts that ruled that the ban violated

constitutional rights. The Attorney General said

the verdict thwarted Mr Trump's effort to protect

US national security. Airbnb has appointed a dedicated

boss for China as it tries to make The appointment of this local head

has been a top priority for the home sharing giant because it faces stiff

competition from local rivals Russia says it's ready to build

a dozen nuclear reactors in India over the next 20 years to back

Prime Minister Narendra Modi's growth strategy for Asia's

third-largest economy, which continues to

suffer power shortages. Mariko Oi in Singapore has

more details for us. What more can you tell us? I guess

it is somewhat related to your top story, climate change on the Paris

agreement, but as you mentioned the two leaders of India and Russia met

and Russia has agreed to build two new nuclear reactors at a site in

India. India is looking to expand its green energy capacity. Those

will be the first of 12 that will be designed and built by Russia, and

Moscow has also agreed to lend over $4 billion for the construction and

the two leaders really emphasised the importance of natural gas as

well as a more economically efficient and environmentally

friendly feel, in order to meet the Paris agreement. So despite the fact

of the US pulling out of the agreement, the two leaders are

really recommitting to the agreement. Thanks.

So, what's been the markets reaction to Donald Trump's

controversial decision to withdraw the US room the Paris

Staying in Asia, Japan's benchmark index, the Nikkei,

led shares higher right across they region -

as it closed above 20,000 on Friday, chalking up its best finish

We also saw the yen also retreated against the dollar.

It's all thanks to some strong corporate profits and a record

All three major New York indexes enjoyed a record close

thanks to some forecast-busting jobs numbers.

We'll have more on that in just a moment.

Meanwhile, here in Europe, stocks look to be

Well, let's hop across the pond and check in with Michelle Fleury,

who has all the details about what's ahead on Wall Street Today.

It is a jobs Friday in America. The closely watched monthly government

report is likely to show US employers added 185,000 jobs in May,

signalling that the trend of slow but steady economic growth

continues. The unemployment rate is forecast to remain unchanged at 4.4%

and it will be interesting to see how Wall Street reacts. All of the

major US indexes closed higher on Thursday and Donald Trump touted

this market's strong performance while announcing his decision to

withdraw the US from the Paris climate accord. But analysts said

the rise in the market was not actually due to that. Instead,

investors had already factored that in. It was, in fact, data pointing

to strengthening the economy that drove prices higher and set

expectations high for this Friday's jobs report. That was Michelle

Fleury on Wall Street. Joining us is Jeremy Cook,

chief economist, World First. There wasn't a huge amount of

reaction on the stock markets to this announcement that President

Trump is going to Paul US out of the Paris climate accord. There was a

bit of reaction with the oil price? Yes, moving a bit lower. That has

been in a funk since the Opec meeting a week or so ago and this

has just continued a bit of the negative trend on the belief that if

we are at a stage where the US, one of the largest producers of energy

globally, is moving away from renewables or in any way ceding

responsibility for green energy and moving back towards something, for

example oil, and more supply coming into the market it one reason we

haven't seen too much movement of the stock markets is that it takes

former careers to get out of the Paris Accord Audi has just signalled

the intention to do it. The benefits will be felt over decades and stock

markets aren't clever enough to price that in yet. There has been a

huge reaction on Twitter. Business leaders, Goldman Sachs tweeting for

the first time ever. He is on Twitter and bail following him and I

hope you are because he's probably going to cry with most of the first

week was, "Today's decision is a setback for the environment and the

US's position in the world". You don't get more condemning than that

and we've seen other members of the business community, Hewlett-Packard,

Microsoft, Apple... Morgan Chase, Walmart, PepsiCo. Yes, BP Shell,

Conoco, Exxon Mobil. Rex Tillerson was cancelling Donald Trump to stay

part of this deal and people who have been supporting him also saying

that this is a bad idea. Very briefly, as I did tease it, we had

some very good news which is making people encouraged about the main

sector. The official figures were out at 1:30pm UK town today to talk

anything above 200,000, you would expect the dollar to rally and

continue the record highs we have seen. The key dynamic is not how

many jobs have been added but how they are paid. If hourly earnings

are around 2.5 present, beating inflation, good news for rate rises

later in the year. Jeremy, you will be back to do the papers.

How have tech firms been reacting to the news that America is quitting

We'll have all that and more with our techology guru

You're with Business Live from BBC News.

Only one week to the UK's election, and the markets seem very uncertain

about the mixed messages they are getting from the polls.

The pound is on a roller-coaster ride, rising in recent weeks

while the FTSE keeps making new highs.

But are any of these moves significant?

Let's find out with our business correspondent Andrew Walker.

Andrew, just tell us, what has the pound been doing over the last we?

It has been up and down, and what has caused the fluctuations?

We had a striking move on Tuesday when we got advanced indications of

what would be in voting surveys in the next morning's papers. If you

look at the graphs, it looks a sharp decline in fact it was half a cent

of the dollar. That is because the survey indicated the vote was likely

to be closer than people assumed and that the markets then took the view

perhaps the Prime Minister is not going to have such a free hand, if

it is Theresa May, she might otherwise have expected and it might

create more uncertainty about what will come out of the Brexit

negotiations. Since then, background has been regained. Certainly the

general picture has been a continuing one of the pound is being

significantly sensitive towards development on the political front.

It has been a roller-coaster. Is this uncertainty set to continue.

I guess in ten days, two weeks, one uncertainty will be over, we will

know the result of the election. Then about to launch into the Brexit

negotiations themselves. It is fair to say one way or another, we can

expect to see episodes of significant uncertainty about what

kind of post-Brexit arrangement the UK will have and I think that is

likely to be reflected in the markets in the months ahead. Great

to talk to you, Andrew Walker. Much more on this story on the website.

Indeed all the stories we are covering on the business news

website. And we are wrong Twitter. We have had some tweets already

which we will read at the end of the programme. What you think of

President Trump pulling out of the Paris Accord?

President Trump has walked away from the Paris climate agreement.

But in the next few hours, Europe and China are expected

to reaffirm their comittments and expand their collaborations.

We can see how the markets are reacting. They have not been

reacting much. You can see the FTSE 100. Fairly flat. Only really

starting to get going. Following strong finishes in Asia and the US

overnight with all three major indices

overnight with all three major indices in New York enjoying record

closures on Thursday. The tech industry in particular has

supported the Paris Agreement, and many of the big tech companies

are currently transitioning their energy-guzzling

data centres to using After Trump announced

his decision yesterday, reaction from the tech

industry was swift. Let's find out what they said

with our technology correspondent, Fantastic to have you. We have heard

about what the corporate world has been saying. What has the tech world

been saying? The tech world, largely based in California, pretty liberal,

generally, were not receptive to Donald Trump when he arrived but

some got together and joined his various advisory councils. The big

announcement last night, Elon Musk, the charismatic standout figure in

Silicon Valley, he resigned, departing presidential councils,

climate change is real, leaving Paris is not good for America all

the world. Elon Musk, not surprising, he came under pressure

for staying on the presidential Council. Tim Cook of Apple, not a

guy out there much politically. A company that very much wants to get

on with what it is doing and its vision of the world says, decision

to withdraw was wrong for the planet. Apple is committed to fight

climate change and we will never waver. Mark Zuckerberg went to his

Facebook page and said it was bad for the environment and he said it

puts our children's future at risk and in a plug, we've committed every

new data centre will be powered by 100% renewable energy. A lot of

these companies have big investments in green energy. That is one of the

big frontiers in Silicon Valley. Not surprising they are not happy. What

a reaction. And from IBM, as well. We want to talk about Amazon.

Their share price reached a pretty penny this week. $18 when it was

first on sale? It went through $1000. A lot of the

acceleration over the last couple of years. What is interesting President

Trump started his speech talking how fantastic the stock market had been

performing under him. Of course, just about all of that was the big

tech company stocks which continued to accelerate. I have a chart

spotted in the Financial Times. The biggest stocks in the world by

market capitalisation, Apple, Alphabet, that is Google, Microsoft

and Facebook. Extraordinary transformation in the way tech

companies were valued. We would have expected a fuel years ago Exxon

Mobil to be top of the heap will stop technology is key to the

American economy. It used to be like Exxon Mobil and now it is the tech

companies and President Trump seems to be on the wrong side. It will be

interesting to see how the relationship develops over the next

few years. I am just going to turn my phone. Very bad practice in the

studio. You protect guy, you have do stay plugged in! -- you are the tech

guy. I think somebody was ringing about this. These are Snapchat

spectacles. They have arrived in Europe will stop they have been out

in the States for a while. I press the button. They record ten seconds

of video. I am the guy who wore Google Glass for three months and

eventually got sick of being mocked by my friends and family and

colleagues. I am not sure. My issue is, they look old. They are not

fashionable. You say that... Snapchat claims it is a camera

company, not just a social network. I am not convinced. It is a great

gimmick. Popular amongst a certain crowd. People who used to buy you go

pro and strap it to their head and go down a mountain, these will be

cheaper. I cannot talk to you. Are you not taking me seriously? It is

knowing we are being filmed while talking to you.

Disconcerting. We will leave it there. Have a nice weekend. In a

moment we will take you through the business pages.

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web page. On Twitter and you can find us on Facebook.

What other business stories has the media been

Jeremy Cook is joining us again to discuss.

We asked you at the beginning of the show to let us know what you think

about President Trump taking the US out of the Paris climate agreement.

One said by leaving the Paris agreement, America has proved it is

not to be relied upon in any agreement of international light.

Lulu said, why should USA keep EU happy country to USA agreements.

Good for Trump. Corbyn will wreck the economy so we won't need fuel.

That is reference to Jeremy Corbyn here in the UK.

Also Melvin Munro says, the Americans pulling out of the

agreement is catastrophic for our world and should be repealed.

Jeremy you were talking earlier about reaction on the markets and

also from businesses. It feels like there has been a huge and immediate

response. It was channelled, I do not know if you saw Emmanuel

Macron's speech, he finished in English saying, make our world great

again. A direct challenge to Donald Trump to say if you are going to

take that position, I will take this position and I have more people

behind me ready to fight back. This could be the defining, certainly

characteristic of politics. We have economic some productivity and jobs

and tech to talk about, but it could be channelled through this

environmental concern. Interesting you said a lot of the oil company

bosses tweeted to say they do not agree with the decision. They have

huge investment tied up in green energy because the Obama plan made

them do it. They want to be good corporate citizens. They know as

people become aware they do not want to buy from a dirty company,

so-called. With corporate and social responsibility they want bank for

their buck. Facebook shareholders rejecting proposals on fake news app

and Mark Zuckerberg control. When the headline says Facebook

shareholders, it is Mark Zuckerberg, he has majority shares. 14% of the

share capital. One of the richest men in the world. Most of the voting

rights are in his back pocket and a couple of activist investors,

including the Baldwin brothers, Juno capital, trying to push to agree to

change terms around the promotion of fake news and around the gender pay

gap within the company. This has been rejected. We have seen more

activist investors taking on big business. You just have to look at

pensions companies and the remuneration of CEOs to see this is

a trend. Thanks for your insights. For now, thanks for watching. Have a

nice weekend.