live from london this is business today, i'm sally bundock. we begin in the us where later today in washington the certification of the election results should take place despite the huge winter storm. then in two weeks donald trump's second inauguration as us president takes place and over the weekend there has been another visitor to his florida home — the mar—a—lago resort. on sunday, italy's prime minister giorgia meloni paid a suprise visit to discuss a range of economic issues, along with the fate of cecilia sala — an italian journalist detained last month in iran. ms meloni said she was "ready to work with" the president—elect and mr trump said meloni had "really taken europe by storm." politico recently described ms meloni as 2025's "most powerful person in europe".

well, hot on the heels of her visit are reports italy is in advanced talks with elon musk�*s spacex over a 1.5 billion euro deal for the company to provide secure telecommunications to the government. bloomberg news is reporting discussions are ongoing and a final agreement on the five—year contract has not been reached, but the project has already been approved by italy's intelligence services and defence ministry. let's discuss this now with susannah streeter, head of money and markets at hargreaves lansdown. good morning. and happy new year to you. so really interesting to see that italy is looking like it's doing a big deal with spacex, with elon musk of course, just as giorgia meloni spends times with donald trump?

meloni spends times with donald trum? ~ , , meloni spends times with donald trum? ~ , �*, meloni spends times with donald trum? , �*, ., trump? absolutely, it's no coincidence, _ trump? absolutely, it's no coincidence, i— trump? absolutely, it's no coincidence, i don't - trump? absolutely, it's no coincidence, i don't think l trump? absolutely, it's no i coincidence, i don't think that the deals have been going on. seeing that she's built up a good relationship with elon musk, and now the surprise visit to mar—a—lago resort. it really does show just visit to mar—a—lago resort. it really does showjust how keen she is to cement herself as the interlocketer of europe and the united states really going forward. and this is a very interesting deal that appears to be on the verge of being struck between italy and spacex. it's a $1.5 billion deal, and it would mean that spacex provide secure telecommunications for the italian government. and, of course, in the background to all of this, is the threat of tariffs on european union goods. and, of course, we've already heard when this tariff threat was raised after trump won the election — concerns about some italian luxury goods makers, about their concern

that perhaps they could lose out if fresh tariffs are there. but, of course, if italy buys more from the united states, and there would be talks about energy as well, we understand that there were talks during the visit, that would put italy in a better position than perhaps some other european nations. �* �* , perhaps some other european nations. �* �*, ., , nations. and it's really interesting _ nations. and it's really interesting that - nations. and it's really| interesting that giorgia meloni, italy's prime minister, should be the one to meet with president—elect trump now ahead of his inauguration. i would imagine ursula von der leyen and other leaders within the european union are very keen that she forges a good relationship with him. it will be of benefit to all across europe? be of benefit to all across eur0pe?_ be of benefit to all across euroe? ~ , ~ ., �*, europe? absolutely. and that's certainl , europe? absolutely. and that's certainly. i _ europe? absolutely. and that's certainly, i think, _ europe? absolutely. and that's certainly, ithink, is— europe? absolutely. and that's certainly, i think, is why - certainly, i think, is why you're seeing these steps being taken. it comesjust you're seeing these steps being taken. it comes just in fact prior tojoe biden�*s visit to italy injust four days' prior tojoe biden�*s visit to italy in just four days' time. and this certainly, this extra visit of meloni in the united states will be welcomed,

because, of course, any form of good relations between europe and the united states will be encouraged by those senior european leaders because of this tariff threat hanging over europe. obviously, italy's interest would be first and foremost. but it can't do any harm for another european leader to be shown to be having a good relation with the new incoming trump administration. super. don't leave us. because i'm going to talk to you again in this programme in a few minutes about another story that we're covering today. but in the meantime. let's head to the us. the first congestion charge scheme for vehicles in the us came into effect on sunday in new york city. car drivers will pay up to $9 dollars a day, with varying rates for other vehicles. 400 lanes of traffic are now covered by more than 1,400 cameras, with more than 110 detection points. the boss of the metropolitan transportation authority

explained what impact he hoped to see as a consequence of the new charge. over time, we're going to be looking at how traffic is changing. the number of vehicles and the types of vehicles and the types of vehicles and the types of vehicles and where they're coming and where they're going. we're all hoping and this is one of our goals, and it's been one of our goals, and it's been one for new york for a long time. we can get trucks to start doing more of their deliveries in the late night hours. there's a huge discount on the overnight, and it's especially designed to incentivise trucks who take up so much space and create so much traffic to do more of their deliveries overnight. proof of how historic this is is — you know, add at midnight, not only was new york one leading with this the story but the bbc world service led with the bbc world service led with the story that new york was the first city in the united states to adopt a congestion pricing scheme. so we're very proud of that. in london — in addition to a congestion charge, there is also an emissions charge for some vehicles. this year there are projections

that carbon emissions may reach their peak. it raises critical questions: about how much the peak matters if then the decline in emissions is slow. some climate models suggest that while some major economies are progressing toward decarbonisation, challenges remain in sectors like aviation, shipping, and heavy industry. mike childs is head of science policy & research at friends of the earth. good to have you on the programme, mike. i mean, i assume you're very happy to hear about what's happening in new york city?— new york city? yeah, i mean, it's great _ new york city? yeah, i mean, it's great news, isn't - new york city? yeah, i mean, it's great news, isn't it. - it's great news, isn't it. they're dealing with a climate problem, but also dealing with an air pollution problem, and that affects the health of people in new york city as well. i mean, the global peaking of greenhouse gas emissions has to be a good thing. but the reality is that as you suggested, is many years later than it should have been. so we're going to have to make a rapid reduction in emissions

over the next 5—10 years if we can avoid the worst of climate change and extreme weather that we're seeing around the globe now. it will get a lot worse unless we make the rapid emission reductions. a what needs to happen, mike? we're in 2025 now and _ needs to happen, mike? we're in 2025 now and 2030 _ needs to happen, mike? we're in 2025 now and 2030 sounds - needs to happen, mike? we're in 2025 now and 2030 sounds like l 2025 now and 2030 sounds like quite a way away, but it's actually not. when you look at theissues actually not. when you look at the issues and what needs to be achieved between now and 2030 when many legally binding targets kick in — your thoughts? targets kick in - your thoughts?— targets kick in - your thou~hts? . ., targets kick in - your thou~hts? . . :: , thoughts? yeah, i mean, 2025 is a reall , thoughts? yeah, i mean, 2025 is a really. really — thoughts? yeah, i mean, 2025 is a really, really big _ thoughts? yeah, i mean, 2025 is a really, really big year. - a really, really big year. you're right, we need to start reducing the emissions. but there's also a big international conference at the end of the year in brazil where all of the world's leaders are meant to be getting together to agree how they're going to meet the 2030 commitments and 2035 commitments as well as funding for developing countries to then them adapt to the impact of climate change that they haven't caused — that we've

caused — wealthier countries have caused. and here in uk, the government is legally obliged to proa deuce a new climate plan to spell out how it will produce the new emissions cuts that we need in the uk. so they need to produce that plan. now, that plan could be very good news for people, because it should mean that we're investing more in insulating people's homes. that people aren't shivering in the winter. that we're helping people switch to cleaner heating like heat pumps. that we're speeding the transition to electric vehicles and therefore having cleaner transport. so, the pathways these emission reductions are actually god news for people, but we need the policies and the plans in place for the targets to be here and in the uk, but obviously in other countries as well.- uk, but obviously in other countries as well. just very briefly because _ countries as well. just very briefly because we're - countries as well. just very i briefly because we're almost out of time — what does a trump presidency mean for this agenda, do you think? well, that's a massive _ agenda, do you think? well, that's a massive question, . that's a massive question, isn't it shall sally. we'll have to see, i think. many of the states have said that they are he going to plan ahead and

reduce emissions anyway. renewable energy is taking over the world in many cases, including in us, and that's not going to go backwards. and electric vehicles are better than petrol and diesel vehicles, and of course, elon musk is sitting by the side of donald trump. so you know, you with look at it pessimistically and say that it is going to throw a spanner in the works and we're not going to make the reductions that we need, or say that this is the way that business is going and this is the way that industry is going. the trump presidency may slow things down a bit, but actually, the trajectory is one way. actually, the tra'ectory is one wa . ~ ~' , actually, the tra'ectory is one wa. , ., , way. mike childs from friends ofthe way. mike childs from friends of the earth. _ way. mike childs from friends of the earth. thank _ way. mike childs from friends of the earth. thank you. - shares in the japanese giant nippon steel dipped slightly in tokyo today as investors digested the news that president biden blocked the takeover of us steel. that was announced on friday. in a joint statement, both companies have called the move "unlawful" and nippon steel intends

to take legal action according to reports injapan. let's cross live now to our asia business hub and get more from suranjana tewari. tell us more. yes, sally. we are hearing _ tell us more. yes, sally. we are hearing that _ tell us more. yes, sally. we are hearing that nippon - tell us more. yes, sally. we| are hearing that nippon steel will hold a news conference. japanese media reporting that that could happen as early as tuesday, during which we're hoping for some clarity on the next steps. that could mean some sort of legal action in the us. and that's because in a joint statement, nippon steel and us steel had called biden�*s decision "unlawful" and said that they were left with no choice but to take all appropriate action to protect their legal rights. now, we do understand the proposed deal has not been terminated yet. understandably, though, president biden blocking the proposed $14.9 billion acquisition of us steel on

national security grounds is causing a lot of headaches for the japanese company which is japan�*s largest steel maker. biden�*s opposition to the deal had been well flagged, and so, this doesn't come as a big shock. but the question is over how nippon steel will continue to achieve its growth strategy without expanding operations in the us. with steel, nippon steel had aimed to raise its global steel production capacity. and just to mention as well, the trump inauguration is also coming up. he was planning to block the deal anyway and said that he wouldn't allow it to be foreign—owned. so that's what we would have expected if the deal continues until he is inaugurated as president of the us. 0k, us. ok, thank you. confidence among british firms has "slumped" as they face a pressure cooker of rising costs and taxes, according to the british chambers

of commerce. its survey of more than 4,800 firms shows confidence has fallen to its lowest level for two years. nearly two—thirds told the bcc they were worried about taxes following the budget, which announced a rise in national insurance contributions paid by firms from april. but a treasury spokesperson said more than half of employers would either see a cut or no change in their ni bills. let's discuss this now with susannah streeter, head of money and markets at hargreaves lansdown. we're not surprised at all to read this, this morning, are we? because really, this has been the narrative from business since the budget? absolutely. it's not really a change of tone. it's just a fresh evidence about how companies are feeling in the aftermath of the budget with 1535 00:12:56,090 --> 0