they handed down a judgement saying there was a good arguable case that royal dutch shell is legally are very grateful, we are very thankful to the british judicial system. we are worried why royal shell should take us through this long, long process, but all we're asking is, "come and fix what you've destroyed," and they are taking us through all this. the water in 0gale has notioo, not 200, 900% above the required safety level of that chemical in the water. for the 0gale and bille communities, this victory is the end of a five—year battle to get their cases heard in english courts — something they can now do. this ruling by the uk supreme court could have implications beyond nigeria, in terms of corporate responsibility and the legal road to compensation when things go wrong in the places where they operate. it makes it clear that the potential liability of these sorts of parent companies is broad and can arise in many different ways. this means that the case against royal dutch shell will now represent a trial here in the uk court and shell would need to give full disclosure about

coming up, what is next for royal dutch shell?to the ceo, ben van beurden about the latest strategy for the energy update. this is bloomberg. matt: welcome back to bloomberg markets, this is the european open. we are 20 minutes into trading in looking at some drops for the energy sector. down about 0.5% as the stoxx 600 climbs about 0.1%. banks are also down. tanks falling about 0.6% -- banks falling about 0.6%. we have been speaking with one executive throughout the program. let's get into energy now. oil production has peaked -- the company's strategy update long-term growth plan to achieve net zero emissions by 2050. here to discuss is ben van beurden, ceo / executive director, royal dutch shell. thank you for joining us again. talk about what it means to you that your oil production has peaked and carbon emissions peaked in 2018, right? ben: that is right. thank you for having me on the program. absolutely, we see indeed we need to transition, which means we will put more emphasis on those parts of the energy system where we b

royal dutch shell added to the disappointed of big oil's fourth-quarter, reporting that income that fell short of expectations. royal dutch shell made a commitment to growing the dividend again, pay out in the first quarter increasing by 4%. in germany, a pre-lim and her loss of $3.5 billion in 2020. that is after taking a big write-down after the pandemic and charges with massive cost-cutting programs. bigger than analysts expected and almost completely wiping out commerzbank's profit over the five previous years. regulators in europe and the u.k. will reportedly -- the acquisition of chip designer arms, according to the financial times, government officials are calling for more scrutiny after ministry rivals said the deal should be blocked. it will be the semiconductor industry's biggest deal ever. that is your bloomberg business flash. tom: on the data, green on the screen. it is fragile, but there it is, correlated with a lot of other good news coming couldn't yields higher. it is a quality yield move, 1.13%, with some legit curve steepening over the last two or three days. old has n

francine: that was royal dutch shell chief executive speaking earlier.arket probably focused on what treasuries are doing. we have a little data later. and all about the yield curve. focusing on the yield curve, reflation trade. a couple of questions that only on inflation imported from china but what happens to china dynamics given some of the wobbles we have seen an activity. i'm also looking at italian pocs and the can later on with the bank of england decision. next, jason farley. we continue tracking covid-19. we look at the variants some of the concerns with vaccinations going forward. this is "bloomberg." ♪ francine: this is "bloomberg surveillance." tom and francine from new york and london. johns hopkins has been at the forefront of the international response every day we get insights from experts in public health, infectious disease, and emergency preparedness. we are happy to be joined by johns hopkins nursing professor. when you look at some of the things we are experimenting with globally. there was news there could be some kind of pfizer va

jonathan: there's -- tom: the executive officer of royal dutch shell there, doing a bit better in france just in the last number of days. bloomberg radio, bloomberg television worldwide, this will be a superb conversation now. lisa abramowicz on energy and oil and our chief energy correspondent. javier, you go way back to your days as a young kid at the financial times. it's been asked before, but we have to ask again based on what we have heard from these big oil companies. do they have the will, i should say, to adapt to the modern energy age? javier: i think they have the will and they want to adapt. do they have the ability? that's a big question mark. they have struggled to make money in the last few years in their choral oil and gas business. are they going to be able to make money in a business where there's renewable energy and electrification for those electric cars when that hasn't been their core business? many shareholders have a big demand on that. lisa: this idea, as oil companies try to become cleaner, can you push it into the supply demand dynamic pushing for the commodit

tt giant royal dutch shell in british court. ., ., , giant royal dutch shell in british court. ., ., been going on. well, basically, the communities, | has all been going on. well, i basically, the communities, to communities in the niger delta region with more than 40,000 people sued the royal dutch shell but there are millions and millions of people in that region who have been affected by the oil pollution, the environmental pollution, that have been destroyed and the same they are talking about drinking water, being contaminated. farmland, fishing waters and the strange diseases, so livelihoods have been destroyed and this court ruling means they can seek compensation, they can seek clean—up by the oil producing company, the oil companies in that region, so this is part of a huge relief for many communities in the niger delta region but many say there is a possibility of more legal battles, especially seeking compensation.— battles, especially seeking compensation. battles, especially seeking comensation. , , . ,, compensation. this is a huge issue for a lot of — compensation. th

the summer of placing the 2 bensouda has been in the post since 2012 a legal battle to force royal dutch shell to pay for decades of oil spills in the niger delta is gaining momentum the u.k. supreme court says nigerian farmers and fishermen can sue the oil giant in english courts tens of thousands of nigerians want compensation for years of oil spills which have contaminated land and drinking water shell has argued that the leaks are caused by local sabotaging their pipelines and not because of neglect i might address has more now from the costs. several courts before rejected the fact that shell has a duty to. do 2 to care about what it's been doing in the niger delta i spoke to an octave is a short while ago immediately after the court ruling and they were elated in the community as well as all galley which has a population of around 40000 people and billy which is also part of this case has a population of 2300 people and they. told us that this is an opportunity for them to bring their kids not only the case for a compensation and clean up but also to draw international attention to the o

supreme court has ruled that more than 42,000 nigerian farmers and fisherman can sue the oil giant royal dutch shelltion in the niger delta. judges said shell had a common law duty of care. our correspondent in abuja, ishaq khalid, has the background basically the two communities they can sue royal dutch shale but there are millions of people in the area who pay have been affected by the oil pollution, environmental pollution and their livelihoods have been destroyed. that is what they say and of course they are talking about drinking water, it has been contaminated, farmlands, fishing waters and there are strange diseases, so their livelihoods have been destroyed and this court ruling means they can seek compensation, they can seek clean—up this is a huge relief there is a possibility the uk chairman of the accountacy firm kpmg has resigned after reportedly telling staff to �*stop moaning' about concerns over possible cuts to pensions and pay during the covid—19 pandemic.(ff gfx)in a statement, bill michael said �*i love the firm and i am truly sorry that my words have caused hurt —— during the cov

introduced at beginning of 2019 by the plan is set to begin next friday a legal battle to force royal dutch shell to pay for decades of oil spills in the niger delta is gaining momentum the u.k. supreme court says nigerian farmers and fishermen can sue the oil giant in english courts tens of thousands of nigerians want compensation for years of oil spills which have contaminated land and drinking water shell has argued that the leaks are caused by locals sabotaging their pipelines a not through neglect earlier we spoke to the king of a galley and niche eye of god when. he hopes that a new court case or bring much needed on says. because there are these qualities and in this case a lawyer can be god pair at least to take care of the on the ground water destroyed in the beginning to look at how there are strange disease now in oregon. as a result of 'd all 'd the destruction all the granted. skin diseases. of a lot of strange trend disease that is going on so improper many who. record people taking. saw can never. give all or a percent. lyra life back but at least we can begin to. progress a big so

spills in the niger delta, the supreme court in london rules that local people can sue oil giant royal dutch shellmore protests against the military coup in myanmar, as the un human rights council calls for the immediate release of aung san suu kyi. donald trump's lawyers have closed their defence arguments, concluding he was not responsible for inciting the riot at the us capitol on january 6. michael van der veen, one of his attorneys, claimed mr trump couldn't incite "what was already going to happen." he argued the former president was simply exercising freedom of speech when he said the election stolen. jon sopel reports. —— the trial has now moved to the question stage, with senators sending written questions to the managers, the president there reading one of the questions. just to give you an idea, there are four hours of questions, they are into their second hours, and one the previous questions asked was, donald trump not care about mr penn's? let's listen to the latest question —— mr pence. just waiting... i am -- mr pence. just waiting... i am not quite — -- mr pence. just waiting... i

royal dutch shell says oil production has begun a long-term decline. company estimates the production will fall 1% to 2% a year and its output will be $.55 lower by 2030. that laid out the plan for transitioning to cleaner energy. assess the target for electric car charging and electricity generation. disney faces a high bar when it reports quarterly earnings after the market closed today. the company riding a wave of enthusiasm. disney shares are up 23%., take more than a subscriber be to impress wall street. that is the latest bloomberg business flash. francine: thank you. let's quickly focus on the markets. if you look at the reflection trait and the equity so far, clear this sharp run-up in equities the start of february is taking a little bit of a breather. there up in your but trader seemed to be taking a more subdued stance on technology. those stocks are leading gains in europe as investors also try to think the implication of soft u.s. patient data. tom: a turn of the markets. you call it a boring day. i would point out dollar training, not do

supreme court has ruled that more than a2,000 nigerian farmers and fisherman can sue the oil giant royal dutch shellng about drinking water that has been contaminated, farmlands, fishing waters, and there are strange diseases. so their livelihoods have been destroyed, and this court ruling means they can seek compensation, they can seek clean up by the oil companies in that region, so this is quite a huge relief for many communities in the niger delta region, but many are saying of course there is the possibility of more legal battles, especially seeking the compensation. the kremlin dissident alexei navalny has been back in court today, this time accused of defaming a world war ii veteran. his arrest on arrival back to russia last month has sparked outrage and protests across the country. our moscow correspondent steve rosenberg travelled more than a,000 miles to the country's far east to gauge the political temperature there. what do you find at the end of russia, where the pacific turns to ice? at first, russia here feels frozen in time, no hint of spring. but in vladivostok, there are signs that

royal dutch shell is down by 2.35%. the shift is taking place away from hydrocarbons.being aggressive enough? alix: 100% and in comparison to other companies, no but is that a bad thing? that's not very clear but let's update you on bumble. that's undergoing pre-trading shifts. it's indicating to open at 73. the ipo opening was at 43 so it's well above that. going back to shell, it said its oil production and emissions have peaked and it's a strategy from the company in their long-term forecast to achieve net zero emissions by 2050. we spoke to the ceo on the companies's plan to go green. >> we need a transition which means that we are going to put more emphasis on those spots of the energy system where we believe the future is. we will put more emphasis also working from the customer back because we believe most of the opportunities in the energy position, most of the value if you like, will be serving customers as they need to find their way to net zero. we have a whole set of plans we will talk about today and a vision for 2050 but it pretty clear plan for the next

take a look at what shell, as you report, royal dutch shell, big oil is doing when it comes to electric the middle of the next decade or this decade to have 500,000 -- that's half a million -- charging stations. gas stations turned to charging stations. they're going to cut their oil production by between 1-2% each year between now and then. they're going to double their electric power generation, that is to say the stuff that they generate from wind and solar. and they're going to focus their petroleuming business on lucratives and chem chemicals. pretty amazing. ing they've already got 60,000 of these charging stations primarily in europe, a handful of them in the u.s., and we've got a picture of kind of what they look like. yeah, i guess it looks a little bit like a gas station, but there's no gas, of course. again, half million by 2025. you know, the number of actual gas stations in the u.s. has been declining for a long time. maybe you and i remember being younger, and there was a gas station on every corner. in 1994 there were 200,000 gas stations plus in the united states. a deca

energy giant royal dutch shell announcing it will cut its production of traditional fuels like gasolinee next decade, but at the same time, shell said it will ramp up and roll out thousands of ev charging stations and double the amount of electricity it sells. the stock is jumping nearly 3%. did big oil just telegraph the end of old time gas stations and if so, how can investors pump up their portfolios? to our floor show. phil flynn from the price futures group and oppenheimer's colin rush who follows all things clean tech and electric vehicles. colin, this seems like a big deal. it almost seems like a big signal that shell is saying you know what, we see the future and we are starting to move now. >> i think it is a big deal. we've got over 1500 major corporations that have committed to net zero by 2040. they represent about $25 trillion in market cap. the challenge that all those companies have is not just their own operation but their entire supply chain transitioning over to net zero. if you look at the implications for some of the leaders, moving towards net zero, there's a massiv

been directly affected by the oil spill what difference would a win in the court when they sue royal dutch shell make to their lives. where have the activists leave who or. even know who and there are at least. if they can because pairs. these are not a car and in this case a lawyer can be got a pair at least to take care of the underground water they destroyed in the town and begin to look at how their strange disease is now in our guy here as a result of 'd the destruction of the government. scheme is easy. on a lot of strange strange disease that is going on so and proper medical. records of lucky for him be taking. and saw it in canada never eat a whole lot under a percent. of work live our lives. but at least we can begin to the progress and mix of programs so that is legal what is john and dancehall there again. then one of the huge amount of money. to lawyers to keep dragging dragging us to court systems they can use to judge people are supreme the united nations report says that then want to order a lot in organ is contaminated to 90 point one percent the level of being seen that's what

court didn't have jurisdiction 2 weeks ago a separate dutch ruling ordered shell to compensate nigerian farmers of oil pipeline leaks well his royal highness. the king of the kingdom he told us his people elated by the judgement and it's bringing them hope the damage can be at least. if they can be godparents. this quality notion of carbon in this case really can't be godparents at least to take care of the underground water and they destroy it if it can begin to look at how there are strange disease now in our county as a result not of 'd 'd the destruction of the current. skin diseases. of a lot of strange strength disease that is going on so the proper medical. records of our people be taking. and saw it can never. give us 100 percent. of our lives and back but least we can begin to the to make progress program so that is the root of what is judgement. just caught that again. then one huge amount of money the. lawyers to keep dragging dragging the last through the court systems they can use to the people are suffering the united nations report says that they want to add on to their own water in organic is called time we need to

court didn't have jurisdiction 2 weeks ago a separate dutch ruling ordered shell to compensate by jury and farmers of the oil pipeline leaks his royal highness godwin. is the king of gali and in china he told us that his people are elated by the judgment that it's bringing them hope the damage can at least be partially undone. if they can because our parents are these qualities nation of carbon in this case a lawyer can be godparents at least to take care of the underground water and they destroy it if it can begin to look at how there are strange diseases now in our galilee as a result of 'd 'd of the destruction of our own government. skin diseases. of a lot of strange trend disease that is going on so the proper medical. records of our people and be ticking. and sot it can never. give us 100 percent. of work to live our lives and back but at least we can begin to the to make progress program so that is the root of what this judgement does call that game. then one huge amount of money. to lawyers to keep dragging dragging the last through the court systems they can use to beat up people are suffering the united nations report says