this is business live from bbc news with alice baxter and ben bland. promises, promises — we take a look at which campaign pledges president trump has kept and which he has not, at least so far... live from london, that's our top story on friday august 18th. plans for an infrastructure council dropped, two advisory boards ditched — the business blues are piling up at the white house. also in the programme... police have killed five suspected terrorists in the spanish resort town of cambrils, linked to thursday's attack in barcelona. we'll bring you the latest developments as they happen. plus we'll bring you all the latest market movements where european stocks have joined asian and us markets a global retreat from riskier assets on friday.

and we'll be talking all things media — including facebook‘s foray into streaming — with our resident expert amol rajan. here's the bbc‘s media editor. and as china's lenovo slips as the worlds biggest pc maker after disappointing results, we're asking has the pc has it's day? do you still use them or have they been replaced by your tablet and smartphone? just use the hashtag #bbcbizlive. hello and welcome to business live. he came into the white house with a pro—business agenda. but events this week have caused the business community in america to distance themselves from donald trump. analysts have warned that his response to the violence in charlottesville will hurt republicans‘ prospects for progress on domestic policy. so let's look at his scorecard so far.

in january trump formally scrapped tpp, a flagship trade deal with 11 asia—pacific countries — blaming the deal for job losses in the us. he also promised he'd withdraw from the paris climate deal, which he did injune, saying it would cost millions of american jobs. and nothing has been achieved when it comes to tax reform. congress is struggling to agree on how to fund lower taxes on individuals and corporations. one of his major campaign promises was to rework the trade agreement between the us, canada and mexico. trump made it clear that he didn't want tweaks, he wanted major changes. with us is dr brian klaas, fellow in comparative politics at the london school of economics. thank you for coming to joiners. we

have been looking at what promises president trump hasn't has not achieved, i'll be expecting too much given we're 200 years into a four year term? i don't think so, in historical terms usually when the white house, the house the senate are controlled by the same party there is a mandate sweeping progress for change, but that has not been achieved. president trump promised he would say manager builds within 100 days of becoming president. we ronde 211, he has signed non—, they have not been submitted to congress in any reasonable form and are going nowhere. which of those do you suggest he should concentrate on getting through in order to placate those who say he has not achieved anything, legislatively, so far?‘ anything, legislatively, so far?l smart move would be to go their infrastructure, this is the one

thing on his agenda that the democrats agree is a pressing problem for america. there could be bipartisan support and it could be ushered through as it could try to turn the page on trump plasma presidency so far, which has been historically inconsequential. what about the things that trump has trumpeted as achievements, jobs creation, the stock market doing very well. looking at his achievements in isolation is like looking at the paintwork on the titanic and praising it. businesses expected jump to deliver on promises, and he has not. a million jobs are created between february and july, the lowest number for february tojuly and july, the lowest number for february to july in five and july, the lowest number for february tojuly in five years. this is touting of the economy, it is a continuation of the 0bama economy, the economy is doing 0k continuation of the 0bama economy, the economy is doing ok but it is not because of trump, figures are worse than a year two go. there has

been anticipation about tax reforms and the regulatory changes he has promised in a very pro—business way, lots of us has been priced into the markets, on wall street the markets have hit record high at a record high. will patience ran out and they think, will this actually happen? we are nearing that point. there is a turning on trump from the business councils, he is viewed as so politically toxic by some ceos that they cannot be affiliated with him. paul ryan is sending out e—mails to supporters talking about his tax reform pledge as the world focuses on his comments which seem to equate neo—nazis with those protesting them. people are focusing on the storm on trump and trying to get tax reform through in that dynamic is extremely difficult. business leaders are aware, they know there is no political momentum for the sweeping reform of tax policy when president trump is making a new scramble for himself on a daily basis. thank you very much, dr brian

klaas from london school of economics. let's take a look at some of the other stories making the news. sales of british salmon helped the uk export a record amount of food and drink in the first half of the year, according to industry figures. exports of the fish jumped more than 53% by value to around $520 million. uk food and drink exports rose more than 8% to roughly $13 billon, helped by the fall in the pound after last yea r‘s brexit vote. turning to trade — and the united states and south korea will start talks on amending a five—year old trade agreement that president trump has called a horrible deal. south korea is the united states' sixth—largest goods trading partner. negotiations are scheduled to start next week. china's unicom says it will continue to suspend trading until further notice. the development comes after the state—owned communications group announced it's trying to raise roughly $12 billion from about a dozen investors, including alibaba and tencent

holdings. plenty of business stories updated throughout the day on our website. right now, kit kat accused of atari copyright infringement. nestle has been accused of using the look and feel of a classic atari game without permission in order to promote its kit kat chocolate bars. you can read all about that on the businesslike page, perhaps when you're having a break! 0h, ben! away from chocolate business to something more serious. now to christine hah in singapore, where chinese personal computer maker lenovo was one of the worst performers on hong kong's hang seng on friday. christine, what is going on? just to

show you how big a shock it was brenda esters, analysts are expecting around the $5 million and instead lenovo came back with a $72 million loss, its first quarterly loss... business of a quarter until june, enormous two years. this used to be the world's biggest pc maker, they have lost that position to hp, a lot of that is down to the fast declining pc business globally but even that they underperformed, shipments fell 6% in the quarter which is much below the 3% decline in the overall market. the mobile business is improving, but not enough, still making a loss as a time when consumers are turning to ta blets time when consumers are turning to tablets and smartphones and its data business has yet to turn profits. even the company is giving itself quite a bleak outlook, it says a shortage of key components means costs will likely keep rising and

its profit margins will shrink in the short—term looking ahead. the lenovo brand was once china's poster child for global expansion, but right now it looks like it'll be an uphill battle from here run. thanks, christine. asian stock investors joined a global retreat from riskier assets that we have seen on friday. japan's mckay fell to a three and a half month low and posted its fifth weekly drop —— japan's nikkei. month low and posted its fifth weekly drop ——japan‘s nikkei. there isa weekly drop ——japan‘s nikkei. there is a weaker dollar due to doubts about whether president donald trump will be able to push through economic policies to boost us economic policies to boost us economic growth, as we discussed earlier. that comes after us stocks sold off on thursday with the s&p 500 lodging its biggest daily percentage drop in months, because of the fiery rhetoric between pyongyang. concerns remain that

tensions in the region could flare up tensions in the region could flare up again in the peninsular, traders say the market will likely stay cautious in the meantime. here in europe on friday markets also opened on a negative note. we will have to see whether they all end the session and the week in the red. meanwhile, michelle fleury has the details about what is ahead on wall street. what is this friday held for the stock market after the s&p 500 had its second biggest percentage drop of the year? the major us indexes fell following the attack in barcelona, all ending the session down more than 1%. stocks are already headed lower earlier in the day due to worries about the trump administration, speculation of white house economic adviser garyz's possible departure merely rocking the markets. turning to the corporate front, a farmer construction equipment maker is expected to report higher

third—quarter profit thanks to increased demand in south africa offsetting weakness at home. michelle fleury with a look ahead to what is happening on wall street. joining us is mike bell fromjp morgan asset management. lots to delve into, but let's focus on the latest hints from the federal reserve and what they may or may not do when interest rates. the committee show they are quite split in the latest minutes and our view is they will still put rated in december, the market says it is more likely than not that they do not but oui’ likely than not that they do not but our view is while it is not a certainty it is more likely than not that they raise rates in december. we think it is pretty likely they will announce in september that they started to reduce the size of their balance sheets. all of the government bonds they bought over the years, they will start reducing the years, they will start reducing the amount. keeping with the theme of central bank, hints and things, just last night we got some minutes from the european central bank, what

did they tell us? there was some concern over the fact that the euro has gone up here today. that may weigh on inflation, holding inflation down more than was expected, and some might think perhaps it means that the ecb will not start to reduce the amount of quantitative easing bond buying that it is doing. we believe the most likely outcome is that by january they will further reduce the amount of kiwi they are doing, the growth outlook in europe really looks quite good. mike, you will take is to some business papers later in the programme. we will be talking about pcs and ta blets we will be talking about pcs and tablets later, have you moved on from your pc? 0ne tablets later, have you moved on from your pc? one person says ta blets a re from your pc? one person says tablets are more portable and he uses his to present work, but another viewer says the laptop will be hard to beat. keep tweeting is using the hashtags #bbcbizlive. still to come... more trump talk as we discuss the president's tricky relationship with the press with our media editor amol rajan.

you're with business live from bbc news. the public relations company bell pottinger is to appear at an industry standards hearing today over charges stemming from its work in south africa. the public relations company bell pottinger is to appear at an industry standards hearing today over charges stemming from its work in south africa. injuly, bell pottinger apologised over a controversial social media campaign that critics say inflamed racial tensions. philip hampsheir has more. he is in our business newsroom. do we know the details around this?l bit earlier this year bell pottinger rana bit earlier this year bell pottinger ran a social media advertising campaign which went out through twitter and several other outlets, it had hashtags on it like white monopoly capital. they were trying to focus the attention of south

african citizens on the concentration of wealth in the hands of those people who are white to 1 degrees or another. the feeling put about by opposition political parties in south africa was that this was divisive and knowingly raised racial tensions, but also designed to distract attention away from scandals that have surrounded the current president, jacob zuma, and an indian born family, the guptas, who are extremely wealthy and influential in south african politics. a hugely divisive and emotional issue in south africa. the leader of the is it a democratic alliance party called it a hateful and divisive campaign. what is the possible outcome of today's hearing? the communications trade body, not government regulated as such, the democratic alliance applied and complain to them from south africa,

complained in the uk. possible outcomes include fines, some form of official censure, but the almost certain outcome, which is probably what the opposition party hopes for, is to raise the level of this story in the mind and consciousness of south african people and therefore, hopefully for them, do better in the next election, which jacob zuma's anc wants to keep down. thank you. you may have some of these in your brea kfast ta ble you may have some of these in your breakfast table this morning. among those being sold, french's, and the proceeds will be used to reduce some of its debt pile, also known for other brands, such as strepsils. bring you up—to—date on the latest

on the attack in spain. you are watching business life. authorities are investigating attacks in barcelona and cambrils and believe a cell of eight people may have been involved and planning that attack with gas canisters, according to a judicial source. spanish police say they have shot dead five suspected terrorists, following a second attack in the country within 12 hours. they were killed overnight in the resort of cambrils, after they drove a car into pedestrians, injuring seven people.

hours earlier, a van ploughed into crowds 75 miles away, in the popular las ramblas district of barcelona, right in the centre of the city, killing at least 13 people and injuring 88 others. police have arrested three people so far. a very quick update on that, the catalonia police force say that extra security checks will be in place around the area of placid catalonia, a large square in the centre of barcelona, go there on foot, do not take large bags backpacks if you are there. —— placa de catalunya. backpacks if you are there. —— placa de catalu nya. the backpacks if you are there. —— placa de catalunya. the life page is being updated with developments. later we will be looking at how the story is being covered in the newspapers. all over major media outlets at the moment. it's been another busy week in the technology and political world. facebook‘s continous stellar revenue growth has made headlines as the firm revamps its video offering, creating a new, tv—like rival to youtube.

meanwhile in the political world, us president donald trump troubling relationship with the media continues. to discuss it all is our media editor, amol rajan facebook, taking on competitors, trying to outdo netflix, youtube and the rest of them. facebook has a nice problem, its revenue growth is quite hard to get your head around, market capitalisation is 500 billion earlier this year, revenue growth growing by 70% year—on—year, this is a very wealthy company, but it faces a very wealthy company, but it faces a fundamental problem, it is running out of space to sell advertising, if you look at the facebook news feed, so many —— only so many adverts you can cram on there, over the past quarter, facebook has increased how

much it charges advertisers for the space, but facebook thinks, if we have a news feed to sell advertising, how can people spend ever more time on the news feed, thatis ever more time on the news feed, that is where they have decided to ta ke that is where they have decided to take this move into television, facebook watch, a big departure for facebook, originally a social network, now it is somewhere that will commission original programmes, the kind that we used to watch on television, facebook will keep any rafael of any advertising revenue, and this is all about making facebook even more addictive. —— will keep 45% of any advertising revenue. selling even more ads, becoming even more wealthy. as they move into this usually set related market of online streaming, begs the question, you have written extensively about it, is facebook moving away from being a tech company and moving to a media company, which it is then open to regulatory checks. this time last

year mark zuckerberg was in the vatican, seeing the pope, he said facebook is a technology company, not a media company, one of the reasons he said that is because yea rs reasons he said that is because years ago when it was launched in 2004, mark zuckerberg referred to it asa 2004, mark zuckerberg referred to it as a utility and someone said, utilities are regulated, you might wa nt to utilities are regulated, you might want to go easy on calling it that. his investors, the facebook shareholders, want it to be a technology company because they think technology is really exciting. the problem with media, media companies, papers, bbc, they come with social moral legal obligations and they are regulated. this is undoubtedly making facebook a media company, commissioning original programming, funded by advertising, thatis programming, funded by advertising, that is what media companies are, the world's biggest distributor of news and information, facebook is now a media company. the question i would ask, if it is creating original programming in this country, viewed by people in this country, viewed by people in this country, why is it not regulated, it

seems to be an anomaly in terms of regulatory framework. from new media to old media, saudi investment in the independent. very unusual, i was editorfor the independent. very unusual, i was editor for three years before coming to the bbc, the independent shut as a newspaper, rather painful, it is now a website, and bearing in a newspaper, rather painful, it is nowa website, and bearing in mind, ten yea rs nowa website, and bearing in mind, ten years working at the independent, if you had said that sometime it would be valued at £100 million, and a saudi investor would ta ke million, and a saudi investor would take a 30% stake, i would have said you would be barking mad. the fact is there has been an excellent generic commercial transformation, for the independent, worth a lot of money now, should other newspapers also abandon print and go fully digital? the attraction is, you have the clarity and focus of producing a website and get rid of all these mad distribution costs, the idea of printing things in paper, sending them in lorries around the country, letting retailers take a cut... the

independent has got rid of that. i'm not sure if it will yet work for the guardian to go like that because the guardian to go like that because the guardian still has a big print circulation revenue, if they abandon that, they will have to make it through digital advertising, really. your take so far through digital advertising, really. yourtake so faron through digital advertising, really. your take so far on donald trump's usage of the media over the last week in particular. derided in the media, he is deriding media as fake news, going through social media but he has now created a unanimous... time magazine and the economist and the new yorker have very scathing cartoons on the front cover, the fa ct cartoons on the front cover, the fact is, donald trump is helping the media, fantastic story, new york times subtractions are up, traffic on websites is up, and the alleged war between trump and the media is a marriage of convenience, cn in viewership is up because of him. -- cnn. in a moment we will look through the business pages but

first, a quick reminder of how to get in touch with us. the business life page is where you can stay ahead with all of the day's breaking business news, we will keep you up—to—date with all the latest details, from the team of editors write around the world, and we want to hear from you as well, get involved on the bbc business live web page, add and on twitter and you can find us on facebook, business live, on television and life, whenever you need to know. back to go through some of the newspapers but first, revisiting the twitter question, asking this morning about whether you still use apcor morning about whether you still use a pc or you have moved to tablet or smartphone, after the trouble novo is having, lots of tweets on this, steve says, still use pcs, cannot live without three screens for

juggfing live without three screens for juggling open files. the laptop will be hard to beat. i thought it was going the other way, people moving back to laptops because of the limitations of tablets, interested you get your thoughts on this, do you get your thoughts on this, do you still use desktop, laptop? almost inclusively using a tablet these days, in the office i clearly use a desktop computer, but i hardly use a laptop at. what in work you use a desktop... now maybe a division between home and the work space and what we use, i don't know. moving on to some of the business newspapers, we ask you to take a quick read through this story on the independent, nodding on these tragic events in barcelona. what is your rate? clearly tragic, and the key ta keaway rate? clearly tragic, and the key takeaway is how sad this is from the families and friends of those killed, and injured, rather than any

economic takeaway, the impact on the market and the economy is likely to be negligible, clearly has a huge impact on those affected. moving on to the story in the financial times, uber planning another share sale, potentially. somewhat cynical, what is going on here, allowing people who already own shares in uber to sell them at what is likely to be a lower price than the previous valuation, people buying in will be able to buy shares from them, the average price ends up looking lower than the headline price that will be paid. thank you very much for that, really good to see you, have a good weekend. that takes us to the end of the programme. thank you very much for watching. good morning, quite a few showers,

all of us will catch one or two, not all of us will catch one or two, not a completely dry day, in between, sunny spells, showers developing quickly through this morning into the evening, quite a rash of showers across england and wales, across scotland, merging together to give longer spells of rain, especially in the north—east. 40, 50 millimetres of rain, could cause problems, watch out for that, we'll feel chilly as well. 12, 13 degrees, quite a blustery westerly wind, sunny spells and showers, and indeed across england and wales, not all escaping the showers, you will see one or two of those at some point, one or two will be on the heavy side, fresher feel compared to yesterday, stronger wind, coming in from west north—westerly, a few degrees of the

temperatures, through the evening and tonight, showers continuing into the early hours of saturday morning, probably a bit chilly, tomorrow morning, compared to this morning, temperatures 12, 13 degrees. should bea temperatures 12, 13 degrees. should be a fairly pleasant start to the weekend, maybe some sunshine around, a few showers developing into the afternoon, particularly northern and western parts, one naughty in the north—west of scotland. —— one or two. showers few and far between as it moves on, staying largely dry, for sunday, complications, area of low pressure moving in, remnants of a hurricane, gert, overthe other side of the atlantic, outbreaks of rain, uncertainty over timing and position, likely to move to the west, some of the rain will be on the heavy side. further north and

east, should remain mostly dry. going into monday, we will have a brief bit of warmth coming in from the south—west, tropical air, slowly easing north. mayjust be extending towards wales, midlands, eastern and southern parts, that will give temperatures up to the 20s, further north and west, likely to stay quite u nsettled, north and west, likely to stay quite unsettled, quite wet at times, highs in the high teams. —— teamteens. —— teens. i'm ben brown live in barcelona. spanish police foil second terror attack after 13 people were killed in barcelona yesterday — five men are shot dead in cambrils, a town southwest of barcelona. that is after a car was driven into

pedestrians, injuring seven, including a police officer. people from 24 countries were caught up in the attack on las ramblas yesterday afternoon. 80 people are injured, some seriously, after a van ploughed through pedestrians on the famous tourist landmark in the centre of barcelona. people caught up the attack have been describing fleeing