, james davis, among our guests, steve forbes, zane tankel, john hofmeister, former president of shell oil. we have a full show. lauren: we do. get back to the down markets. another down day for stocks despite passage of tax reform and avoiding a government shutdown. nicole petallides on floor of new york stock exchange. end of the week, nicole, we didn't see a santa clause rally. >> people are very cheerly. there is a lot of optimism. it got quieter towards end of the week. we had a great day on monday. we're up for the week. in fact five weeks in a row of gains, almost 1400 points. so, up higher. we've seen some records. the transports today closing at yet another record. there is look at dow, down 27. s&p 500 down one. nasdaq came under a little bit of pressure. we saw a lot of records this week, at least names that hit highs at one point. goldman sachs, fedex, boeing, microsoft, mcdonald's, sometime hit all-time highs. we want to look here at the tax preppers, h&r block, intuit. look how they fared going into the closing bell. there were concerns on the new tax plan fewer taxpayers wou

project sensor also has other ways we're successfully destroying ourselves now about climate change shell oil understood climate change as early as nineteen ninety one and ignored it not just understood it but created it i am sure crappy after school special about how bad it's going to be for us i feel in the video on the show before and then shell suppressed it and i don't think the reason they shelved it was because you know lighting didn't look there were too many jump cuts and i didn't follow right they did it because they want to up their profit structure they'd rather kill humanity instead and the same goes for every corporate news pile of dung heap.

project sensor also has other ways we're successfully destroying ourselves now about climate change shell oil understood climate change as early as nineteen ninety one and ignored it not just understood it but created it i am sure crappy after school special about how bad it's going to be for us i'm still in the video on the show before and then shell suppressed it and i don't think the reason they shelved it was because the lighting didn't look there were too many jump cuts you know it didn't flow right they did it because they want to up their profit structure they'd rather kill humanity instead and the same goes for every corporate news pile of dung heap. and here is the last most sense of story i have time for despite the fact that our police continue to kill hundreds if not thousands of unarmed civilians every year killing by police killings by police are not inevitable or difficult to prevent and there are eight use of force policies to prevent killings by police that are highly affective. while there are ways to not kill people rubbish i say. here are some of the easy changes we could

taking a look back on a week in which the oil giant shell faces major allegations of corruption.first we had the plastic bag charge, but how about the plastic bottle charge? mps are calling for a introduction of a deposit scheme in an attempt to protect the seas from plastic pollution. what do you think? just use the hashtag #bbcbizlive. hello, and welcome to business live. we start in the spanish region of catalonia, where separatists have won a crucial election victory in a poll that prime minister mariano rajoy had hoped would see off the crisis. instead, it has made it worse, plunging one of europe's biggest economies into further uncertainty. catalonia is hugely important for spain — it represents a fifth of the national economy. 19%. spain was one of europe's biggest casualties following the financial crisis ten years ago. the country has made a solid recovery in the last couple of years, but over 17% of the workforce is still unemployed. only greece has a higherjobless rate in the eurozone. businesses certainly haven't hung about waiting for the result. almost 3,000 firms

exists pretty much everywhere in every dimension and i'm focusing on a semi business not the big shell oil in there because of this world whether it be a supply chain investment the ones making with the russian company whether it be a trade partnership whether beer export arrangement how can we possibly gulf wouldn't of the future given that resume could put sanctions on on the next day i think at the political level what i would hope for is that we make progress and i think that involves setting up dialogue where mutual respect between both parties exists and i think it's incumbent on both the british government and the russian government to establish that effective dialogue is not only important for from the point of view of international security it's also. important as an umbrella for business generally because you can bet your life that if a british board is sitting discussing whether it wants to do business in russia and if it's likely to get some bad press or some bad political comment and it's not going to do it it's an easy way not to do it and there are a lot of opportunities bei

many are held today -- important to distinguish political kidnappings in political if you work for shell oil and you're posted as a -- oil rig off the coast of nigeria your chances of getting kidnapped are quite high and it's a business all of these thingses are a business they operate in lawless areas somalia, and pakistan, iraq, syria, parts of nye jeah! across sahara today al qaeda has a protocol for dealing with political kidnap haddings. they used to be 250,000 about -- per person and now it's up to well, recently most recent one was a swedish person who was caught on a motorcyclist i think tourist he was $10 million. so it is -- it is very much a business. but to get to your question. the exact number of political kidnapped victims those being held today is secret. i don't know. ... >> >> it was al qaeda its way of announcing to the world that they existed. as they just did a few weeks before 9/11 but it was in the political world but this was their way to say we are here and they introduce a new form of political warfare. kidnappings perce started in our modern area - - era 93 terry -

if you work for shell oil and you are posted on an oil rig off the coast of nigeria, your chances ofgetting kidnapped are quite high. it's a business. all of these things are this is the they operate in lawless areas. those are political kidnappings. today al-qaeda has a protocol for dealing with political kidnappings. they used to get $250,000 about per-person and now it's up to you, well, most recent one was a swedish person who was caught a motorcyclist, tourist in the south of sahara and he was $10 million. so it is very much a business, but to get to your question, the exact number of political kidnappings, those been held today, a secret. i don't know. the fbi again would have that information. to the were closely with the cia? argue they fight with the cia. we all know the story after 9/11, if the fbi and the cia have worked together, maybe the information would've prevented 9/11. that still exist. one recent they compete, it's tribal warfare in washington, the one a a larger budget and e one greater power. but it's when fbi agent sydney,, the cia does not have to testify in c

shell, 11 executives are facing trial. that includes these two. all defendants deny any wrongdoing. that is the oil refinery... implicated, says the case is damaging. stories like these are stories that cast doubt on the quality of the company and its intentions. these are real challenges we have to overcome. i will not deny that the trust society has in big companies, certainly oil, is low. and i think we need to face that. if found guilty, the companies could face large fines and exclusions from lucrative contracts. individuals could face up to 10 yea rs individuals could face up to 10 years injail. it is rare for cases like this to make it to trial. this one starting malign on march five. —— milan. bbc news. the acute volatility in the value of the digital currency bitcoin does not pose a threat to global financial stability, according to the bank of england governor. bitcoin is traded online of course, unregulated by any authorities. it's rocketed in value in recent months. current value, around $16,000. but some are warning the bubble is set to burst, as our tech correspondent, rory cellan—jones, explains.

dollar bribery scheme the ruling which was handed down on wednesday requires the ex employees of oil dutch shell and any to stand trial on march fifth are being tried on allegations of aggravated international corruption regarding their role in a one point one billion dollars deal for a nigerian oil bloc in two thousand and eleven following the decision both companies released statements claiming their innocence but lobel witness and finance uncovered which published a report connecting them to the scheme a day before the ruling came out said the nigerian people lost on over one billion dollars equivalent to the country's entire health budget as a result of this corrupt deal we welcome the prosecutor's efforts to bring this case to trial it will be the biggest corporate bribery trial in history and act as a warning to others who see corruption as a route for quick financial wins. saudi arabia is planning to put the billions of dollars it collected from a statewide corruption probe back into the economy in an interview on late tuesday with the wall street journal mohamed el don said whatever is g

as far as thesee , rios and oils producers tinto a big loser. shell, bp. and oil producers making up the lion's share of the companies that are taking points off of the stocks 600. -- stock 600. stoxx 600. some left phil to get investors thinking. forecast, the bitcoin could see huge gains, was spot on. if the price targets of 2000 proved just a little bit of a cautious side. joining us with some more apparatus positions for next year, john hardy, senior macro strategist. bitcoin, you called it, but did not go far enough. >> in retrospect, bit silly to be outrageous. the first time we called for anything to triple. but your talking about measurement that already tripled. spectacular thing and the demise of bitcoin is going to be that it went super x financial. up close to 20 times what it was at the time we called last year. guy: what incident? what finishes this amazing run? >> if it is a speculative bubble, any bubble plays itself out when there's no longer any money to inject into the bubble. i think the bigger risk year is from the regular side. governm

britain's most valuable company, shell, and the italian oil company, eni have been been ordered to standat has been described as one of the biggest corporate corruption cases in history. the companies and several senior officials face allegations in connection with a deal in nigeria. all deny any wrongdoing. the trial in italy is expected to start in march next year. the family of an australian woman shot dead by police in the united states earlier this year have said the official investigation has not been properly carried out. justine daymond was shot in minneapolis on july 15th, after she called police to report an assault on another woman. the new leader of south africa's governing anc, cyril ramaphosa, has closed his party's conference with a promise to pursue a policy of radical economic transformation. he said the fight against corruption must be an urgent priority for the party. voters go to the polls in catalonia later. it's a key election that could resolve spain's political crisis. pro—independence parties are up against those who want to remain part of a unified spain. you'll

britain's most valuable company, shell, and the italian oil company, any, have been ordered to stand has been described as one of the biggest corporate corruption cases in history. the companies and several senior officials face allegations in connection with a deal in nigeria. the oil firms and the individuals deny any wrongdoing. saudi arabia's crown prince, mohammed bin salman is to visit britain next year. that's according to a statement from downing street. it said the prime minister is looking forward to welcoming the crown prince to the uk in the new year. let's take a look ahead to the business briefing now. we'll have lots more on the catalonia election and the potential impact on the spanish economy we're also reporting from dubai, where the high—tech cityscape could soon become home to the world's first driverless flying taxi service. it's part of an ambitious plan by the united arab emirates to establish itself as a centre for advanced technology, and secure its economic future in a post—oil world. we will be asking if silicon valley is set to have a new rival, silicon oa

take a look at some of the other stories making the news: britain's most valuable company, shell, and the italian oilen ordered to stand trial in italy, in what has been described as one of the biggest corporate corruption cases in history. the companies and several senior officials face allegations in connection with a deal in nigeria. the oil firms and the individuals deny any wrongdoing. the trial in italy is expected to start in march next year. for the first time in its history, the european commission has threatened a member state with the loss of its eu voting rights. it has started disciplinary measures against poland, accusing the government of undermining the independence of the country's judges. polish ministers have dismissed the commission's actions as politically motivated. voters will go to the polls in catalonia later in a key election that could resolve spain's political crisis. pro—independence parties are up against those who want to remain part of a unified spain. the country was plunged into constitutional crisis when catalonia's parliament illegally declared independence in 0cto

britain's most valuable company, shell, and the italian oil company, eni, have been been ordered to standorate corruption cases in history. the companies and several senior officials face allegations in connection with a deal in nigeria. the oil firms and the individuals deny any wrongdoing. the trial in italy is expected to start in march next year. the acute volatility in the value of the digital currency bitcoin does not pose a threat to global financial stability, according to the bank of england governor mark carney. bitcoin, which is traded online and is not regulated by any authorities, has rocketed in value in recent months. those lucky enough to own one will know that it's currently worth nearly £12,000. but some are warning the bubble is set to burst, as our technology correspondent rory cellan—jones explains. their wrists and flash photography in this report. it is either the digital currency which is the future of money or a dangerous bubble built on hype. —— there is some flash photography. but the value of bitcoin has soared more than threefold this year. and alessa nd ra mo

shell. so, integrated oil not benefiting from the boost in crude prices we are seeing today.h over to the winners here and we see one big bank at the top, hsbc. there, after the big action yesterday, buying westfield for almost $16 billion. and then you see glencore and a anglo american winners. some of the mining companies are adding a little bit to the stoxx 600 this morning. now, republican roy moore, switching back to the u.s. for a second, but something that has affected assets around the world has suffered a stunning defeat in the alabama election. doug jones became the first him that theo win a senate first democrat t -- doug jones became the first democrat to win a senate seat in alabama since 1992. this makes cash reform tougher to get through. the fed will announce the final policy decision of the year, expected to be an increase in rates. the market has priced a 99% chance of a hike. the focus will be on janet yellen's post meeting address, and the dot plot project since. oining us is michael metcalfe. let me first ask you about the roy moore issue. it has affected

economic section, talk to people in calgary and they'll tell you their oil is a shell of calgary to ing retool. >> in the 1990s energy was half of the kphreu. it's about 30% now. they know this is a problem. trying to deal with this for years. this certainly has put impetus the government's efforts to do something about it. >> just give us a sense then of happened. we all know the big oil players to retrench. talk about the impact on the terms of unemployment levels, the drop in income levels as well as as a result of this. it changed the economy dramatically. at one point unemployment down to 7.3. above the point national average. i think more stark is if you incomes which have been quite high because this industry pays good salaries on the main, it was for than drop in median income 2015.en 2014 and >> when an economy go through these downturns, people get used with less, with fewer people. so even though prices are now at touched 30.ey now they're up to 60, we're not eeing the same number of jobs coming back to energy. >> they're staying lean. like's also causing a city calgary. they

oil. that also partly reflects has been an increase in shell production in the us, but the widening of the sea oil is very much down to these developments. is the time of year also a factor, because we are in the middle of the winter. absolutely, and there was a bigger surge in the wholesale price of gas. it is winter and as i am sure you noticed it's a particularly cold phase of this part of winter so demand is pretty strong and at the moment we're having this interruption to supply. thanks very for that. we will keep an eye out. let's take a look at some of the other stories making the news. france's unibail—rodamco has agreed to buy shopping mall owner westfield for $211] billion including debt, in what would be the biggest takeover of an australian company on record. the deal accelerates consolidation amid the global retail property sector as it grapples with challenges from online retailers led by amazon.com. the financial times is reporting that the world's largest listed oil and gas group, exxonmobil, is to start publishing reports on the possible impact of climate policies on its b

oil. the symbiotic relationship between opec and non-opec and the russians. a bull market was turned in september. the debate as we go into the highest since 2015 is, will shelleat the rally in oil? will the drillers in the united states unseat that rally? oil is trading at the highest level since 2015. a tortured soul victimized. think about the dollar. it's up for its first yearly loss since 2012. in september, we were down around 10%. think about it this way. you have a tax deal, a more aggressive federal reserve turbid why -- federal reserve. why is the dollar not more resurgent? by the end of 2018, we are going to be 2% lower than where we are now according to the median estimate of the bloomberg family that we talked to every the most bearish estimate is that we will be 5%, 5.5% lower by the end of next year. but not everybody is so pessimistic. the median estimate, 2% lower. the most perish, 5.5% lower. the most public is 6.4% higher. perhaps we talked it into an early grave. that's the debate. the fed resurrect the dollar? withll get you up to speed sophie kamaruddin. sophie: happy friday to you from asia, donald trump has warned china over alleged sa

chevron, shell and bp are among the oil companies hit by this lawsuit. >>> uber has named the formertz as their new chief operating officer. barney har ford's responsibilities will include overseeing global operations, marketing and customer support. this comes as the top court in the european union has ruled that uber should be regulated like a taxi company rather than a technology service. that means uber would have to pay large license fees and employee benefits. uber said in a statement today: the ruling will not change things in most eu countries and that uber will continue the dialogue to allow access to their services. >>> you're not alone if you are going off for the holiday. experts predict this evening's commute is the busiest time on bay area roads as people leave for destinations. nationally friday is expected to be the busiest air travel day but here in the bay area, it's tomorrow that's expected to be the busiest for sfo. the airport tells us they expect about 167,000 passengers to pass in and out of the airport tomorrow. aaa says more than 107 million americans plan to

the big oil giants like b.p., shell, exxonmobil, chevron and conocophillips have enjoyed nearly $1 trillion in profits over the past ten years. yes, let's rush to their assistance. never mind the beleagured american families, many of whose taxes will go up from this bill. let's rush to the defense of those companies with $1 trillion in profits over the past ten years. they continue to benefit from multibillion dollar tax subsidies. i'm proud to have repeatedly cosponsored senator menendez' bill that would close the loopholes for the big oil giants, saving $22 billion for taxpayers and debt holders over the next decade. republican bill not only leaves most of the old loopholes in place, it offers new giveaways to the oil and gas industry. a last-minute change scribbled in during the senate vote-a-rama will allow traded oil and gas partnerships to use the so-called pass-through loophole that republicans claim is designed to help small businesses. while the republican tax plan boosts the fossil fuel polluters with this new tax gift, it singles out renewable energy to undermine those jobs. the

oil in the risk radar. up 10%. the dividend yield on the likes of royal dutch shell and the likes of ep are what is driving the playdends. met --the region remeasurement of deferred tax positions they see a charge, a of 2.5h adjustment billion dollars. there are profound differences between the house and senate republicans. that may play a major role on how the legislative agenda plays out in 2018. the tax plan is law and the house speaker has said his priorities, welfare reform and food stamps. there is the senate where the republicans have a slim majority and the rules give the minority democrats leverage to bottle up proceedings. there is jodi schneider. the big differences between the republicans in the chambers as they move into this pivotal midterm election year. this is where the desktop and --haps the homogenate day may not play out when it comes to social policy -- policy. a lot ofy had difficulties getting together on tax but they were able to do it was badly desired by wall street and wealthy donors as well as the white house. youill be a lot harder as know, there is a do virgins of the chamber when it c

saying today they anticipate a profit boost while oil giant shell and barkicallies expect a hit to theirpanies wrestle with the ramifications of tax reform, indications are that president trump and congress could be looking at that infrastructure bill next we were just mentioning, so we know mike the deferred tax assets versus the liability which is kind of a dollar change. it's not having a big impact on the stocks and some of the infrastructure be a bigger deal. >> exactly right now you're getting the initial wave of the accounting based judgments that would have to be made don't think the smarkt going to price that too aggressively. infrastructure it would be a big market mover but i don't think that the market itself is going to overanticipate that. we did in the first quarter of this year, remember the engineering stocks, all of that stuff was flying and i don't think that people are really going to handicap the odds of that being very high in the first half of next year. >> do you think it's already getting to the stocks at all or no >> i was looking at some of the materials stocks

shell technology and cisco ventures. show comes on board as kespry tries to expand into gas and oil. the ceo george matthews is here. ut this relationship. will you be partnering with them? excited about a number of strategic investors that joined this round. shell is a customer and using kespry for better asset management. not only a customer, but investor. emily: what do you mean about better asset management. >> there are right tossed because you don't know where spare parts and materials are. overhead to a drone understand where materials are using and track that effectively with computer vision, then moving to rfid. that will be delivered i kespry for the drone and the analytical operations. emily: what is the potential for drones in the industry? >> these industrial markets are big market opportunities. the miningin aggregate space where we have 150 customers and have expanded into architecture and construction, and recently the insurance inspection space. the miningink about space, the aggregates market, and the it additional industrial use cases, energy is a natural next to step, so oil and gas has the potent

shell and bp are among the companies. san francisco oakland and others have filed similar lawsuits. the oil companies responded. they called the lost is counterproductive.>>> there is chaos at this hour in melbourne australia. what we know about an suv that plowed into a crowd of pedestrians.>>> we are tracking that whether. a cold night tonight. frost and freezing in many valleys. what it looks like for your first day of winter tomorrow. really? really? really? really? really? really? see zero in a whole new way. get zero down, zero deposit, zero first month's payment, and zero due at signing on select volkswagen models. now with the people first warranty. >>> video shows two confederate statues removed from a park in memphis tennessee. the city wasted no time taking down the statues the following a vote tonight. officials issued a traffic alert and heavy equipment was moved to the park. more than 30 police officers were standing by in case trouble broke out. the memphis statues have been the center of controversy for much of the year.>>> fire crews investigating a natural gas explosion of a vacant restaurant

oil pills. megared advanced triple absorption. >>> closed captioning provided by -- i feel like i'm in this shell. gold bond eczema relief relieves five frustrating symptoms of eczema. my skin's back. >>> one of my biker brothers out there cruising along, when something catches his eye. >> oh, no! >> a sheep. >> yeah, and that poor sheep went off into the field. that one little one was stuck. >> nice surprise, whenever you're wearing a wool sweater, always gets caught on anything. imagine if your whole body is made of wool. >> you're trapped. >> turns around, goes back to where he saw the struggling sheep. >> no, stop, stop. >> closer he gets, the more the sheep struggles to get itself free. >> it's okay, buddy. >> wait, watch it, it will shrink. >> right. >> won't need to. all he has to do is basically scare it and that causes the sheep to struggle enough and find just enough strength. the sheep finally gets mostly through to the other side. this guy just has to help the rear leg. >> there you go. >> comes back this way. >> over on to a highway in pierre, south dakota. there was an overturned tra

problem creating a new $700 million loophole for oil and gas partnerships that will benefit oil giants like shell and valero. they had no problem creating a new loophole for wealthy individuals with large real estate holdings, a loophole that's been described as a jackpot for the trump family and for several members of congress. they had no problem retaining the carried interest loophole at a cost to the treasury of $20 billion. i remember during the campaign when candidate donald trump railed against the carried interest loophole as a giveaway to wall street that was unfair to american workers. again and again, candidate trump promised to kill this loophole, but president trump now enthusiastically supports keeping it in the tax bill. well, yesterday at the white house, republican leaders and president trump celebrated the tax bill, while at the same time many in the majority party insist that the federal government can't afford to help nine million children who depend on the chip program and tens of millions of working americans who rely on community health centers or the affordable care act fo

oil does to people'shealth. the spills around the town came from pipelines belonging to shell.thers are the result of sabotage. when we contacted them for a response to this report they said there was no comment. there has not been a lot of research into what this oil does to human health but there are theories. for pregnant women, if they are exposed and inhaled the emissions, it will affect the forming of the foetus. it is capable of affecting brain formation. until there is funding for scientists to study poor communities like in the niger delta, more children could be at risk, and many more parents left without a nswe i’s. the world's major fishing the world's majorfishing nations including russia, china and the united states, have agreed to stop commercialfishing in united states, have agreed to stop commercial fishing in the arctic ocean for the foreseeable future. once permanently frozen, arctic waters are now amongst the fastest—warming areas on earth. the deal protects nearly three million square kilometres for the next 16 years, while scientific research is carried ou

our view, and that's going to bode well if the oil price continues to rise as we think. >> doug, it's jim lebenthal, i like your analysis and royal dutch shell has been on my radar screen for a while i'll be honest i'm focused on the dividend and my question is is it sustainable because they certainly had a payout ratio above 100% for quite a little while here. are we above $60 a barrel, and is it sustainable and should i stop worrying about it >> you should for bp and chevron and conoco, too. you're right when the oil price was, you know, 55 this year for brent, very few of the companies were able to cover their dividends. if we were right and it head to 70, 75 one year from now, these guys will have tons of free cash flow and the difference is they will return it to shareholders rather than to go invest it into areas of low return which is part of the reason that the disdain towards my group is so great today, but we have to have the oil price stay at this level and recover. we think the forward curve is too low by is a% and the oil prices will head to 70, 75 and the difference is these companies will return capital to shareholders and tha

oil companies over the effects of climate change. they are seeking damages from the effects of global warming including rising sea levels and severe weather causing wildfires, flooding and drought. chevron, shell and bp are among the companies named in the lawsuit. san francisco oakland and others have filed similar lawsuits. the oil companies are calling the lawsuits counterproductive. >>> the governor of washington state says that amtrak told him amtrak will pay the cost associated with the train derailment that killed three people south of seattle on monday. that would include medical and other expenses. amtrak says it will try to make sure technology that automatically slows down or stops the trains will be in place in washington state before december 31 2018. that technology was not yet installed on the track where the crash occurred. those are just some of the morning headlines. cristina, sal, gasia back to you. >>> a young girl from hayward is just eight years old but she already has her own nonprofit helping people in need. >> her name is ashley and she is proof it is never too soon to get involved. >> amber lee spoke with the young girl about her passion for volunteering.>> ashley bra

alex: a lot of companies are paying in bitcoin and overstock and china buying oil from the middle east and shell opening up a bitcoin buying desk. what do we make of that? julie: is anyone going overstock and paying in bitcoin? are they actually doing it? i don't know of anybody actually going to overstock and buying their couch with bitcoin. david: either bitcoin works or doesn't and then if it works it permeates the real economy, not just the little small world of bitcoin and if it doesn't work, who cares. alix: and we're talking about it as a currency, is it a currency or commodity or new asset class. when i think of currency, i don't think of something that falls 50%. alix: that's a equity. and if you have to look at volatility you have to classify it as an equity. smarty: there were similar movements in the tech bubble in the 1990's. so you could look at it that way but ultimately it's going to be determined by regulators. and how they respond to this speculative bubble. i don't think there's any question, individual investors are turning this into a bubblelike situation. david: what happen

oil majors gain as prices hover around 2015 highs despite a slight pullback. and shell says the tax overhaul will help its results. >>> european chip makers follow apple lower after a report suggests demand for the iphone x could come in below expectations >>> 'tis the season. u.s. retailers pop after upbeat holiday shopping numbers but uk bargain hunters stay home in a blow to the high streets. >>> and iwg shares surge to the top of the stock 600 after the uk service office provider announces a bid approach from onex >>> so this is not the first day for trading for u.s. futures since christmas, but the second day in europe. we were just looking a little bit earlier. the picture was slightly more positive it looks as though s&p, dow, and nasdaq looking to open firmer today. of course the main story that was dragging down dow jones in yesterday's trading was apple which traded down 2.5% at one point. but let's take a look at the european picture and see how the indices are fairing there. ftse up 1.4% and has been trading very well and the highest it has been trading for

oil pad drilling, we are some 30. alix: shale is spending 10%, a fraction of its budget -- shell is spending 10%, a fraction of its budgete the largest allocation overtime. bought upr shell shale assets and it did not go well. >> we were using a lot of the same standards for our offshore business. alix: big oil was criticized for paying too much at the wrong time and took billions of write-downs after the 2014 crash. >> we have reshaped our standards and our entire framework to enable us to be competitive in shale. we need to be as nimble as an independent but also bring the strength of in the major and those are in technology, value chain integration, and scale. shell aren, chevron, all in u.s. shale. to the big boys make you worry coming in? we have competed against large companies, multinationals forever and it doesn't worry me. alix: they have big pockets. >> they do, and a lot of times they emptied them quickly. alix: do they have the ability to operate shale like you guys? >> probably not to the extent we do. i think a lot of them realize it . some of them made attempts to departmental lies the company's -- departm

us we have expected an oil so to have a number of people who've been oh lady and say here who three weeks moving out of one of the stadiums complete you'd ever been used as a shell it would be moving back we have ramped up the work chimes of repairing the level of want to let the two groups under homes and repair into his homes so i think it's realistic to say but by the end of the year we. might see on brussels back in but you know the electricity has been up now for several weeks we can't operate all of it because there's not enough power to use the water has been up and running we have. presently it's costing us in antigua about fifty dollars and us at the just means we have had to do level of vote of vote shelters so far has been really good it had a visit from the u.n. secretary general as you might have no one and we also had a visit as recent as a month ago from prince jobs and recently about a week ago we had. our come cuba's summit road kustra was here a number of the car come heads were here and some visits were made to the shell the so i think we've done a terrific job in terms of looking out for the folks in and to go in now with the men back to bob

oil prices. they spiked after the shutdown of a north sea pipeline because of a crack. it's above $65 a barrel. that rise is reflected in the shares of big energy companies — bp, shellgher against the euro. that's it from me. the bad weather has been causing chaos across europe — where heavy snow has meant disruption for millions of people. hundreds of flights were cancelled notjust here in the uk, but also in the netherlands, germany and belgium. and there was disruption in italy and france, where an atlantic storm took its toll. tim allman has the latest. for these passengers, it must have felt like the wait would never end. hundreds of flights cancelled at one of europe's busiest airports. six o'clock, i came. it is already 12 o'clock. we're still haven't reached the counter. we're still waiting. hopefully one more hour, i should be there. a similar story at heathrow. sunday's destruction causing a knock—on effect, hundreds of flight crews now in the wrong place come so hundreds more flights cancelled. in italy, it was the train network that seemed to bear the brunt. stranded passengers are given food at milan's central station. this was the rush hour in brussels

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