bp reports its lowest profits for four years live from london, this is business today. good to have you with us. he has moved to protect america's steel industry the biden administration. and pharmaceuticals. here's what he had to say. essentially, we're putting

on a 25% tariff, without and it's going to mean a lot of businesses are going to be and maybe we'll do a couple of them at different times, and maybe together — but we'll be talking about other subjects like cars. and we're going to be doing some other things in addition to that, all of which will bring in a lot ofjobs into our country. we will get to some of those other tariff global steel production hit

1.89 billion tonnes in 2023, half the world's steel, at over a billion tonnes in 2023. comes from china. the wrong people. first of all, very, very disappointed where we took the time

to express and show that of our section 53 tariffs, where we followed their lead and we put 25% tariffs on chinese steel and aluminium. the on steel and aluminium begin on march the not 7 not march the 4th which 12th, not march the 4th which was the initial statement we heard from white is moving but certainly in date is moving but certainly in the month of march. he is also threatening "reciprocal" tariffs —

the same tax on their goods going into the us. almost every one, i would say — almost without exception, and it's time to be reciprocal. it's a very, very... if they're at 25, we're at 25. so, uh... just steel and aluminium — but we'll be discussing that over the next couple of weeks. at the london school of economics — she told me about the potential impact

of president trump's tariffs. we've seen these types of tariffs from trump before, in terms of the impact on canada, this is significant. we've got companies who have operations on both it's very complicated and we see goods and parts going back and forth across this border. the united states and canada.

against the united states. of the us economy. do you see that happening? we can look back to when he imposed these types of tariffs during his first administration. we saw 25% tariffs on steel.

there were some exemptions, but, in that case, of us jobs in the steel industry remained relatively unchanged at about unchanged at about 140,000 people. 140,000 people. when it comes to what he calls when it comes to what he calls reciprocal tariffs, do reciprocal tariffs, do you think we will hear more you think we will hear more soon about that and, if so, soon about that and, if so, what's in his sights? what's in his sights? i'm assuming this is where we'll start to hear about tariffs on goods coming in from the european union. this is really the big announcement that i think i'm nervous about, lots of trade nervous about, lots of trade watchers are nervous about, and watchers are nervous about, and the markets are nervous about. the markets are nervous about. he's threatening to impose he's threatening to impose tariffs on any country that has tariffs on any country that has tariffs on us goods. tariffs on us goods. but virtually every country has some tariffs on some us goods. so, in effect, his threat is tariffs for all and so i think that everyone will be watching this carefully and looking and thinking about ways, and thinking about ways, not only to retaliate not only to retaliate themselves, but to try to potentially fend off some of these tariffs and strike of these tariffs and strike a deal with the trump

a deal with the trump

for a break—up. joining me is cornelia meyer, economist and ceo of meyer resources. good see you. once a time, he worked for bp. is it refining? what refining? what are just about refining? what are they here? ft just about refining? what are m here? they getting wrong here? it is not 'ust they getting wrong here? it is not just about _ they getting wrong here? it 3 not just about refining we not just about refining but we have to clear that other ”other big ioile hadzvgorse results because oil weight hadygorseresults because oil weight materially year 2:7?25: year tha n 5 year than last 5 year than last year. year than last year: this this year than last year. this year they fell by about 24% j japril j j japril and j japrilajnd septemberand between aprileneseptereeeteee we between april and septembet end we have between apritenesepternbetene we have to factor that have got few things they have got a few things wrong. it is about refining. it is also previous has is also the previous ceo has made a bet on renewables “fie 5 big bet a". renesb'e: f f ,, 777 —~ — —— really? “if; e b�*e bet “2 eflesb'e“ f 7 ~ w w 7 ,, reallyrdidn't “ede e be bet “2 efleeb'e“ f 7 ~ e w e ,, reallyrdidn't pay “31�*e e be bet “2 e“e3b'e3 f 7 ~ e w e ,, reallyrdidn't pay out. so is about refocusing on the

on the oil and -as eeertt en the eit ens—gee ~ , ., which gives eeertt en the eit energee ~ , ~ which gives them :——= profits. theyf profits. theyéhave started 7—— act in the j act in the sense that they to act in the sense that they have taken part of their wind and outsourced it a company. ene' fib�*efibr=efi' it gm“? h ”77 "w 7 m" 7 company. also there is japanese company. also there is a plan to fire that work a plan to fire people that work bp about they are doing contractors. they are doing what they _ a bi- vision expecting a big vision statement �* this expecting a big vision statement �*this month from statement later this month from bp, quite soon am told, where bp, quite soon i am told, where they will in more they will outline in more detail what is for xx 77 mm especially xx 77 m”? especially when it the future, especially when it comes to renewables. as you say, the oil and is what stay, the oil and gas is whatis the money. their making them the money. their investment in renewables is not fruit. what about this bearing frbit; whet about this investor in bearing fruit; what about this investor in the " ”elliot?” elliot management? meantime, elliotfianagement? sorts rumours about at 71th??? at titeplans 7th7e777plans of 7ti717e777pl7a7ns of this surrounding the plans of this

investor to relist bp may be in new york, break up the company. what is going on? is new york, break up the company. what is going on? _ what is going on? that is what elliot is good _ what is going on? that is what elliot is good at _ what is going on? that is what elliot is good at and _ what is going on? that is what elliot is good at and it - what is going on? that is what elliot is good at and it has - elliot is good at and it has been successful in the hon7eywell they were with honeywell they were splitting up the parts that were more sum of the were more than the sum of the don't believe in pipes. they don't believe in the point was conglomerates. the point was the relisting in the us, which 777a7ui(7 | hha has'a b'k nationat'l'woutd find very sad, but personally very sad, but the capital markets are so capital markets are just so much �* in the us. yes, much deeper in the us. yes, is something, and that is something, and they will certainly hammer on the renewables _ aboutthe 7c7u7lture, about7the 7c7u7lture, as well? it abouttthetculture, as well? us it is seen as a place !n the us it is seen as a plate the pressure to go green a lot less and the pressure is a lot less and the pressure on the board and the do 77 do so isa do so is a lot 77 do so is a lot less, 77 do so is a lot less, where77 in london, despite elliot here in london, despite elliot

�*s plans, other investors will say, hang on, you to get say, hang on, you need to get petroleum and you are beyond petroleum and you are really scaling back on that. bp a takeover target for has—been a takeover target for while the price been languishing. has been languishing. i is down 996, has been languishing. 2 - is down 996, year was up 6% 7 was up 6% so 7 was up 6% so that gives shell was up 6% so that gives a good measure of it. you a good measure of it. yes, thatis you a good measure of it. yes, that is partially true but the 7 -— boom, esg whole—esq investing boom ese boom has also stakeholding boom has also in europe so i guess in tapered in europe so i guess in the end want to see tapered in europe so i guess in the end so, want to see tapered in europe so i guess in the end so, you want to see tapered in europe so i guess in the end so, you know, to see tapered in europe so i guess in the end so, you know, yes, e tapered in europe so i guess in the end so, you know, yes, there money. so, you know, yes, there is less pressure, but is is less pressure, but there is — less m is less pressure, but there is . less in europe you seen just �*many you seenjust �* many big >u seen just 7 �* many big companies. |just 7 �* many big companies. all ;t 7 �* many big companies. all the how many big companies. all the big kahuna is our out, have big kahuna is our outehave e. e — e — ”e” w e big kahuna is our outrhave ,, 3 a, a”. a, have suddenly left. things havesuddenty a bit left. things havesuddenly a bit there. left. things have - a bit there. changed a bit there. always to net changed a bit there. always - to get your _ changed a bit there. always - to get your take - changed a bit there. always - to get your take on i changed a bit there. always . - to get your take on these great to get your take on these

things, thank talking things, thank you for talking , , us once again, cornelia from meyer

now to a bitter rivalry in the world of tech — buy the company. 0ur north america business correspondent

by none other than elon musk. which could merge with 0penai following a deal, as well as other investors. musk and altman have been locked in a long—standing feud over the direction that the ai company has taken since its founding. last year, musk filed a lawsuit against 0penai and altman — him to fund a nonprofit focused on developing al to benefit humanity, but that it was now focused on making money. but left before the company

took off. ritika there. that's the question gold traders are asking that 3,000 target looks as if it could even be met today. that the market seems to want to see it hit. and, of course, the fire has been lit under the gold market with the comments that were made earlier in

and there are concerns that there could also be creating something of a shortage in the domestic but the market at the moment is absolutely on fire. we saw a 34% gain in the last year and it looks to most and i can't see anything causing — because often when you see something riding so high are on higher levels. would you say that? on the way up. it's been literally

one way all the way. gold's behaving in a very ungold—like way. and i think what that price action tells you is that the buyers behind it have very high conviction and, normally, gold, as i say, would be regarded as the sum of all fears. which are the central banks, around fiscal deficits, 0k. the way is up for gold, so says ross. keep a close eye. $10,000.

byd sales — sharply undercutting rivals such as tesla. chinese ai app deepseek. do a look at our because there is so much more on trump's as detail on trump's tariffs. as we have mentioned, the executive �* was executive order was signed on monday in the oval office, and in it says that all steel in that it says that all steel aluminium coming ahg aluminium products coming the will have 25% into the us will have 25% tariffs imposed on them, and is into 777775 777777into7e7ffe7ct 77 777775 777777into7e7ffe7ct ah 7777nion7th777 7into7effect ah 77 7 7mon7th7o7f7 7into7effect ah 7777mon7th7of7mar7chj7fe7ct ah 7777mon7th7of7mar7cthst ah 7777mon7th7of7mar7cths w7e7 77 canada canada is 77 canada is the mentioned, canada is the importer... sorry, biggest importer. sorry, should biggest importer... sorry, should i say, of exporter, should ! say, at we . at” ., to the us. exporter, should ! say, at eve—e , we. 7. to the us. this has

exporter, should ! saye oi eve—e , we. 7. to the us. this has a impact on many companies huge impact on many companies which have got very that complicated supply chains that kind of cross borders between , ,, and the us. also there canada and the us. also there is a more detail on the is a lot more detail on the we have been other stories we have been covering here on a business including the very elon musk and sam row between elon musk and sam altman of world of intelligence. 7 intelligence. that all 7 all from 77 all from business, iwill is all from business, i will see you if moment. jo currie spent time with them in melbourne. the afghanistan women's xi may not have won

theirfirst ever game, moment marks a new chapter in the players' remarkable story. who escaped to australia. in that moment, i was shocked and i felt that sorry. did you know in that moment, on that day, that them coming i didn't know that there's going to be a chance for me and family to get out of afghanistan. are we going to live or die? under the taliban government, women are banned from sport, they are also forbidden from having their voices heard to help the team were

they able to escape. the system a little bit. contracts, and the funds that were meant to be for their development. they got a reply to say, well, contracts are an issue for the afghanistan cricket board, which is the very board that the women have been ostracised from, and that, also, funds that are given to the afghan cricket board is for them to decide how it is spent. these women have such big hopes for their futures in cricket, but, right now, all they really

want is to be recognised so why isn't the icc doing more to help them? we asked the icc why it hadn't communicated with the women's in a statement, icc chair jay shah told us... but within the statement, there was no mention of either this match has sent a big message to those in charge of the sport — afghanistan women belong on the field. unbelievable. like, i can't believe it. now, so it's reality.

this is a team that refuses to be silenced. cricket�*s forgotten team is available now on bbc iplayer. cloud, mist, rain and drizzle. quite strong easterly winds affecting eastern areas to the bitter feel. now, at the moment, ourjet stream is running well we find ourselves on the southern flank of this

area of high pressure, which is feeding in these bitterly cold easterly winds. a few patches of sleet mixed in, a bit of snow up over some and scotland — above around 300—400m elevation. that really is quite high. extensive cloud, rain and drizzle around, quite a lot of mist too. there will be little overall change in the weather picture for most of us through the rest of the day. still got those bitter easterly winds. will be hard to find. temperatures again 4—6 degrees quite widely. there'll be some areas on our eastern slopes that only

of cloud into wednesday. with some drizzle and mist, perhaps a few more breaks coming into western areas of scotland, so you might well 0n into thursday, perhaps a few more breaks just developing it's another cloudy day. and we might see some rain arrive towards cornwall for our temperatures. by the end of the week, we do have a weather front areas for a time on friday. a few holes into the cloud. that's the latest. bye— bye.

complicates' gaza truce. hostages by saturday, or israel should �*cancel�* the ceasefire deal. appropriate time — i would say cancel and all bets are off and let hell break out.

outside of the territory. former spanish football chief luis rubiales is due to be cross—examined today, as his trial for sexual assault continues. leader in budapest later today. in new york, with more than 2,500 dogs representing 201 breeds. hello, i'm samantha simmonds. president trump says israel should cancel the ceasefire deal and let "all hell break out" in gaza if the remaining