this is business live from bbc news with maryam moshiri and sally bundock. a test of his metal! donald trump gives the eu, mexico and canada a further month before they're hit with tariffs on steel and aluminium. live from london, that's our top story on tuesday, 1st may. nerves of steel! the us government leaves it until the last day to extend exemptions on its metals tariffs. also in the programme... what's up at whatsapp? the boss of the popular messaging service steps down, with reports suggesting that he had a disagreement with parent company facebook. a lot of european markets shut for

the bank holiday, london is open and bp is the stock to watch. and we'll be getting the inside track on the post—brexit prospects for london's tech sector. we'll hearfrom a leading expert later in the programme. we wa nt we want to know your most embarrassing moment at work. the boss of sainsbury‘s was caught singing we are in the money. use #bizlive. hello and welcome to business live. president trump has delayed a decision on whether to impose steel and aluminium tariffs on key trading partners. in march, the us imposed import tariffs of 25% on steel and 10% on aluminium on the grounds of national security.

but the eu, canada and mexico were given a temporary exemption from the import taxes. the exemption was about to expire, but it's been extended untiljune. one country which hasn't received any exemption at all is china, which currently has a $375 billion trade surplus with the us. thank you. our economics correspondent, andrew walker, joins me now. outlining the fact it would seem that the canon has been kicked down the road, what does it tell us about where the trump administration is that? -- where the trump administration is that? —— the canon. where the trump administration is that? -- the canon. there is some prospect of getting an agreement with the eu, canada and mexico, they are looking for in particular an agreement to restrict on part of

those countries that exports going from there into the us, and exports of steel and aluminium. that is what korea has agreed, permanent exemption from the tariffs. we know some sort of exemption in principle has been agreed for brazil, argentina and australia. we do not know the details, but it is likely that will be some sort of commitment toa that will be some sort of commitment to a voluntary export restraint. most of the time we talk about steel, we talk about aluminium, but other goods, the devil is in the detail, you were saying earlier, like beef products, it could throw in real issues. a certain amount of speculation that the us might be interested in more thanjust speculation that the us might be interested in more than just these export restraints on steel and aluminium, with the eu, there has been a suggestion that perhaps some sort of movement on the eu's tariffs on american car imports, io%

sort of movement on the eu's tariffs on american car imports, 10% from any destination, which is relatively high, and certainly something that does irritate president trump and the american motor industry. also, beef, as you mentioned, the eu has a duty—free quota on american beef imports relating to a very old trading dispute and one possibility might be an expansion of that quote. but what the american... what president trump wants perhaps more than anything else is some sort of volu nta ry than anything else is some sort of voluntary agreement to restrain exports going into the us of steel and aluminium. interesting to see the countries that have managed to do euro deal so far, but the ones that haven't, china, but the eu, canada, mexico, given more time. mexico and canada, ongoing talks are under way as well. president trump, he wants to renegotiate the north american free trade agreement, and in the election campaign, he was bitterly critical of it, often suggesting he would want to withdraw

altogether. there are some quite pressing political deadlines, elections in mexico and midterms in the us. it would be helpfulfor president trump to get as much of that nailed down as possible before those elections with the possibility of very different views being taken by new congress and the new government in mexico. thank you. andrew walker, part of our team in the business unit, our economics correspondent. let's take a look at some of the other stories making the news. bp has reported a $2.6 billion profit for the first quarter, up from $1.5 billion in the same period last year — that's a staggering 71% rise. the group said it was its best quarterly result for three years. the oil giant also revealed that it paid another $1.6 billion in fines and compensation for the 2010 gulf of mexico oil spill. whatsapp chief executive jan koum has quit the popular messaging service he co—founded.

in a post on facebook, he said he was taking some time off "to do things i enjoy outside of technology". however, according to the washington post, it says mr koum had clashed with parent company facebook over whatsapp‘s strategy. we will unpack that further later in the programme. an australian regulator has told commonwealth bank it needs to hold an extra $750 million in capital following a scathing report into how the bank's governance allowed money laundering to flourish. it says the bank was complacent with risk and didn't learn from its mistakes. the bank says it will implement all the report's recommendations. japanese electronics giant panasonic has agreed to pay a fine of over $280 million to resolve charges brought under the us foreign corrupt practices act. the us said the firm hired consultants for improper purposes and concealed payments of more than $7 million

to at least 13 people around asia. katie silver is in singapore with the details. nice to see you. panasonic definitely in the firing line. that is right. it basically concerns a subsidiary known as panasonic avionics doing the in—flight entertainment and in a statement, they said they are pleased to have resolved the investigations. this goes back to crimes from 2007 to 2016, and they are accused of employing consultants but they never appear to actually do any work for them, for example, in the middle east, one consultant made almost $900,000 over six years and he was employed by the state—owned airline at the time. no evidence he did any work for them, but the part of the airline that he was associated with paid panasonic avionics up to $92

million over the time. this is the corruption allegations. the $280 million fine, one of the largest under the legislation since president trump took office. about half of this is going to the department ofjustice, a penalty for the crimes committed. the other half will go to the security an exchange mission to reap a bill gotten gains. panasonic avionics say they have replaced the entire management team and set aside money so it will not be bad on the balance sheet. the market has not responded favourably. panasonic ‘s shares at the start of the day down 2.3%, and the shares rallied, but they still closed 1.1, 1.296 rallied, but they still closed 1.1, 1.2% down since the market closed. thank you very much indeed for that. let us take a look at the markets. uncertainty over trade wars and geopolitical tensions over iran kept investors on edge on wall street and asia overnight. but the extension of that deadline for steel and aluminium tariffs did go some way

to reversing bigger losses. keeping a few markets in positive territory. the hong kong market and the chinese markets closed for the may day bank holiday. most european stocks, like the dax in germany, closed for the holiday, but i wanted to show you bp share prices, one to watch as it is reported its best quarterly results of three years, 71% surge in its profits. let us see what is coming up on wall street today. on tuesday on wall street, all about drugs. drug makers. the two biggest us pharmaceutical companies are expected to report earnings, investors are looking for any news about the company's consumer health division, at pfizer. the part of the company making over—the—counter drugs and it is expected to be worth something like

$20 billion. when it comes to the other company, investors will be quite pleased, looking for a results showing how successful its blockbuster cancer treatment has been. all eyes will turn west to san francisco when apple reports earnings. investors are curious for any signs about the company's iphone shipments. they want to know about the success of its latest model. joining us is tom stevenson, investment director at fidelity international. good morning. they have a very busy week ahead of them, federal reserve meeting starting today, tomorrow jobless data at the end of the week... busy time. big focus on america this week and in particular on the federal reserve meeting which will finish tomorrow. no changes, i don't think, in american interest rate policy this week, but i think what people will be looking for is a

sign interest rates will rise a bit more quickly than expected, so some forward—looking guidance may be forthcoming on wednesday. this impacting on the dollar which has been very much in focus over the last week. absolutely. you are mentioning some of the stock market performances around the world, currency is quite important, a strengthening dollar is bad news for american exporters. we have seen the ftse 100 american exporters. we have seen the ftse100 here be pretty strong and thatis ftse100 here be pretty strong and that is as a consequence of the falling pound which is the flip side of the rising dollar of course. many markets around the world are closed today, the 1st of may, what is the saying? sell in may, go away, do not come back... a horse race which happens in september. it suggests you are better off being out of the market in the summer. we looked into this... a free holiday for all of us? it would be nice! the same, it works some years, not of the years,

not a great guide. we had a guest yesterday talking about the trade wars. we are focusing on the trade ta riffs wars. we are focusing on the trade tariffs today. in asia, when she went, she was telling us, all of the markets, talking about trade, very worried, what is the word on the street here? everyone is concerned about what a trade war might mean. it is more important for the economies which are big exporters, very important in germany, for example, and clearly in the asian markets, the background to the commons yesterday. it is probably less important in the uk —— the comments yesterday. we have many overseas earners but exports are less important. thank you very much indeed. tom will be back with lots more, including mike, the chief executive of sainsbury‘s. more, including mike, the chief executive of sainsbury's. quite embarrassing. we will play you the clip. you definitely want to watch it! we have got a few of your

embarrassing moments at work. we will share those as well. still to come... we'll ask one expert whether london can retain its crown as europe's top tech destination after it leaves the european union. you're with business live from bbc news. the proposed sainsbury‘s and asda merger is coming under increased scrutiny, as suppliers to both are concerned they could suffer when the two grocery chains merge. bbc business presenter ben thompson travelled to a farm in gloucestershire to meet one of the farmers who might be affected by the deal. yes, welcome to gloucestershire. we're looking at that news yesterday, the boss of sainsbury‘s, of course, announcing they would cut prices pretty significantly after the merger with asda, but already concerned that it is suppliers who will be forced to bear the cost. suppliers like this place, a farm in gloucestershire. so let me introduce you tojenny,

who's the farmer here. jenny, you supply asda and you've had a pretty good relationship with them up to now, but are you worried about what you've heard yesterday? i think any farmer would be worried. we've had, like you say, a very good relationship. they've been selling our free range dairy farmers' milk for a year now, which is going really well. i hope that the consumers will choose it and that won't happen, but it's always a worry that farmers will be the ones that bear the brunt of cheap food. and do you worry about going up against the power of the supermarkets, because they are so big now — there's one less player if this sainsbury‘s and asda deal goes ahead — that you don't have much negotiating power? we don't have a lot of negotiating power, but the consumer, we just hope that, you know, they listen to what the consumer wants. and they want cows in fields. joe's with us as well, he's a retail expert. joe, it is about what customers want. we've always been asking for cheaper and cheaper prices, so supermarkets are just delivering what they want, aren't they?

—— what we want? yes, sure, and, you're right, the merged entity will be bigger than tesco and will have huge buying power. honestly, i don't know how easy it is to make money out of commoditising milk. i think people need to build brands and they need to convey the benefits for wildlife, for farmers, for the environment, and the quality of the product as well. and the supermarkets will make a big deal about the relationship that they have with farmers buying british and all that sort of thing, but is itjust a marketing ploy or do they really mean it? i think the example you see here withjen shows that it is real, it can be real, but possibly they need to do a betterjob of conveying that convincingly. joe, jenny, really good to see you. thanks so much. so there you have it. we should be clear, this is not yet a done deal by any stretch, it still needs the approval of the regulators but, nonetheless, some concern about whether it is suppliers like farmers who will end up paying the price. you're watching business live.

our top story — president trump has delayed a decision on whether to impose steel and aluminium tariffs on key trading partners. the eu, canada and mexico were given a temporary exemption from the import taxes — the exemption was about to expire but it's been extended untiljune. we will have this conversation again. for now, though, let's talk about tech. the uk now is the home for 22 of europe's 57 tech unicorns — that's startups worth at least $1 billion. not horses with horns in the middle of their heads! just clarifying that in case! the vast majority of them are located in london — in fact, over $4 billion were invested into the capital's tech companies in 2017. together they employ over 300,000 people in the capital. but the organisation tech london advocates says their aim is to raise that number to one million by 2023. russ shaw is their founder. welcome to business live. all this

data and information sends very impressive, and i know london is trying to big itself up as the place to be when it comes to tech, but what about brexit? brexit will clearly have an impact, there is a lot of uncertainty around what brexit will mean for us all and for the tech sector. even with that level of uncertainty it is great to see that the level of investment continues to flow. we are speaking to government leaders, city hall, to say we have issues around talent, we need a good, clear immigration policy, we need to invest more in home—grown talent, encourage more women and younger people into the sector. something i have heard from company bosses and entrepreneurs, we interview quite a phew, they say there is a real issue when it comes to talent when it comes to the uk

because of brexit and the lack of clarity on the situation, but also in the us, i have heard from people working in silicon valley who have noticed a real difference because of trump's immigration policies in terms of trying to attract talent. it isa terms of trying to attract talent. it is a big problem in silicon valley, i was there six months ago and it was the first time i felt people being negative about the climate for tech in the bay area. the soft power messages emanating from the uk at the moment, particularly around immigration, are not good. we need to come out of the eu with a very clear and understandable immigration policy. we wrote to the immigration minister a few weeks ago saying the number of tier two visas to software developers, coders, programmers, chief technology officers, we need to double and troubled the number we currently have allocated each year. if we can do those things and send those signals, i think talent from the rest of the world will say london and the rest of the uk will

still be an important place for tech. that is what i wanted to ask you about, you are tech london advocates but there is a country around london. 300,000 employed in the capital, but how important is the capital, but how important is the rest of the uk for maintaining the rest of the uk for maintaining the uk as a tech hub? hugely, and i believe the uk will become a tech nation. we have tech north advocates and tech belfast advocates, two sibling groups. is it different kinds of tech wherever you are? londoners very strong and fintech and deep tech such as a! learning, belfast are very strong in cyber and creative tech with digital production, manchester is very strong media tech. each hub is creating its own unique expertise because of the dna they have. scotla nd because of the dna they have. scotland is massive in terms of gaming, in cambridge you have biotech, there is a lot going on in different parts of the country. let's talk about some of the key

issues coming to the fore, gdpr is a massive issue for technology and also as well. i know the government wa nts to also as well. i know the government wants to be at the forefront, it gives that the message that it is investing heavily in augmented tech, ai etc, give us more on that? cyber security will be critical, we have heard so many places about hacking etc, look at what happened to the nhs last year. it has to be on top of everybody‘s agenda, both public sector and companies need to prepare for this world where cyber hacks happen all the time. in terms of gdpr, it is an important piece of legislation, data protection is key, companies are not as prepared as we need them to be, the start—ups and scale up siame talking to getting their heads around it but it will become real in the next few weeks, we had to be ready to deal with this. why did you come up with this idea to bring together private tech

companies? what was lacking? when i launch the group i felt we were missing a diverse group of leaders with the private sector agenda separate from eight founder angel entrepreneur. can anyone join? the group is open, entirely free and inclusive, you are both welcome to become tech london advocates, i will sign you up after the programme. become tech london advocates, i will sign you up after the programmelj am sign you up after the programme.” ama sign you up after the programme.” am a technophobe. we will change that! thank you very much, russ. let's not talk about the vigil earlier, an embarrassing moment at work! —— the video here earlier. last night, the boss of sainsbury‘s, mike coupe, was preparing for an interview when he was caught on camera singing. his choice of song was rather... u nfortu nate. # we're in the money. # the sky is sunny. # let's lend it, spend it, send it rolling along. # we're in the money. # the sky is sunny. # let's lend it, spend it, send it rolling along. # doo—doo do doo—doo...#

i actually feel really sorry for him. that is the chief executive of sainsbury‘s, seem to be the boss of the newly merged entity, soon to be a co nte nt the newly merged entity, soon to be a content and on x factor! x factor winner! tom is back. you have to feel sorry for him, but not a clever thing to do. hisjob over the next few weeks is to persuade everyone that this merger is in the interest of everyone. suppliers as well as customers? suppliers, customers. you can see the attraction of the sainsbury‘s, the attraction for suppliers and customers is more debatable. sainsbury's have said the reason he was singing this comment yet recently been to see a musical, 42nd st, in which the song was quite

prominent. had he seen wicked, he would have been seeing something different! we have had lots of tweets, your most embarrassing moment at work. shirley says i was organising a surprise party for a work colleague and not taking them out of the carbon copy. we have all e—mailed somebody we should not have. sorry, surely, this is better than yours, and the viewer is a difficult client meeting at the office, i caught up with a colleague in the gents five minutes afterwards, to which he was openly and verbally critical of the client to me, flash, cubicle door opens, client steps out. hello! that is not a good moment. we have all kind of been there. this is on a global scale because everyone can see. moving on swiftly, this story about the founder and ceo of facebook, not facebook, whatsapp, i don't want to get a new rumour adds, zika burger

is not going! this is the founder billionaire of whatsapp, the ceo, saying he is going. he has not said why, he said he wants to take some time out, the washington post thinks they have a reason? it looks like there is a difference in opinion about strategy and at the heart of it is how to monetise these businesses. you know what they say, if you don't pave the something on the internet, you are the product. -- if the internet, you are the product. —— if you don't pay for something on the internet. this is at the heart of the face because she would cambridge analytica and the privacy data, whatsapp want to do things differently. he plainly does. he wa nts to differently. he plainly does. he wants to guard the encryption and the privacy, facebook, the parent company, is looking to monetise as much as possible. this is in the news today on the day mark zuckerberg gives a speech at the big facebook event later in sanjose? there is an interesting angle, he

stands to lose quite a lot of money if he walks now because of the share options he has besting towards the end of the year. he is not the only former whatsapp guy with a beef with facebook, co—founder brian acton came up with the whole hashtag on social media, delete facebook. there is animosity? i think there is a cultural differences —— difference between the way the businesses have been run, putting them together is not ideal. we have not as time his most embarrassing moment. this is most embarrassing moment. this is most embarrassing moment. this is most embarrassing moment, being axed. we have run out of time. that is just as well ex—formation axed. we have run out of time. that is just as well ex-formation tom axed. we have run out of time. that isjust as well ex-formation tom got off the hook! that's it from business live today. there will be more business news throughout the day on the bbc live web page and on world business report. we have been tweeting as ever, tweeters, we do read them. we like your embarrassing stories, we will re—tweet those. have a really good

day. goodbye. it has been a cold start to the day, we have had some frost around this morning that it has been a lovely start for many, lots of sunshine such as this in somerset from one of oui’ such as this in somerset from one of our weather watchers. for many of us, keeping dry and bright weather, towards the west you notice the weather fronts moving gradually towards the west you notice the weatherfronts moving gradually in across these western areas of the uk. the rain already starting to move towards northern ireland, it will continue to spread into western scotland. a few showers ahead of that across wales, further east, drier and brighter and much improved across eastern and south—eastern areas of england. temperature is a good 10 celsius higher than yesterday, much lighter winds, good 10 celsius higher than yesterday, much lighterwinds, drier conditions. further north and west, temperatures about ten to 15. the

weather front bringing the rain towards the west will gradually move further east, some heavy pulses of rainfora time further east, some heavy pulses of rain for a time tonight into wednesday morning, spreading into the far south—east of england. a frost free night, those temperatures higher than last night's. ranging from around six in the north, ten in the south. wednesday's forecast starts rather cloudy, quite wet the central and eastern areas but the rain will shift away and be replaced by some sunny spells but also some showers across western scotland and northern ireland. some could be heavy and perhaps chillier compared to today. temperatures about ten to 12 degrees. into the end of the week, we lose these blues, the chilly air, and we start to replace it with this bulge of orange, the warmer air which will move from the mid—atlantic. which will move from the mid—atla ntic. temperatures will which will move from the mid—atlantic. temperatures will be on the rise. plenty of dry and sunny

weather on thursday, a fine looking day, a bit of cloud building into the afternoon for many but maximum temperatures on thursday, they will start to rise. 131a and the north, 15 to 17 further south and east. —— 13 to 14 15 to 17 further south and east. —— 13 to 1a in the north. temperatures gradually coming up to where they should be for the time of year, going into the bank holiday weekend, dry for many, bright with sunny spells, and temperatures 18, 19, 22 celsius in the london area on bank holiday monday. some positive news ahead after the rather chilly spell. goodbye. hello, it's tuesday, it's 9am, i'm victoria derbyshire, welcome to the programme. today we'll bring you an investigation into a british far—right activist who's behind a militant christian organisation. our inquiry shows he's accused of stirring tensions in eastern europe. what is going on? the muslims have

cleared out the christians. the first time in hundreds of years the muslims have... you can watch the full film at 9.15am and we'll be interviewing the british far—right activist at the heart of the investigation live at 9.30am. as sajid javid takes his seat at the cabinet table today as home secretary, we ask, if you were designing britain's immigration policy from scratch, what would you come up with? we will be speaking to the 25—year—old with asperger‘s who was forcibly removed from london's bfi cinema for laughing too much.