Around the world. We start in the finnish capital, helsinki, where Climate Change is top of the agenda for eu finance ministers as they meet over the next two days. The European Union wants to be the first major economy to go climate neutral by 2050. One of the big ideas under discussion reforming the tax system to give more incentives to clean energy and penalise fossil fuel use. Researchers are warning that 7 of global gdp will be wiped out by the end of the century if no action is taken to reduce carbon emissions. Governments have pledged to limit Global Warming to 1. 5 degrees centigrade above pre industrial levels. That is considered the threshold before dangerous changes to the worlds climate take place. The uks committee on Climate Change has warned it is 50 50 whether we will be able to achieve that. And it is going to cost a lot 2. 1; trillion of investment in clean energy every year for the next decade and a half, according to un estimates. But there are also big opportunitie
Looking at strong sales to aerospace and construction customers. Alcoa executives are keeping a cautious tone as worries linger about the budget battles in washington. You look at the businesses, you actually see that the endowment dow stream businesses are hitting new records profitabilities. Another quarter of that and record year. Thats great. When you look t upstream where its basically about the commodities coming down, the cost curve, we are coming down on the cost curve 4 point. On the smelting business, our aluminum business. So thats pretty much what the quarter looks like. Ceo Klaus Kleinfeld said sentiment rather than market fundamentals will be driving a rebound in lump naluminum price its good that we start with alcoa. The earnings season is a shocker, a shocker shock to the system. Yeah. A shock to the system. You ease in, you know, never we reported alcoa but you what if you had to start with google or or apple or you had to know, you with this, you know, 9 billion, smel
United states and around the world. Im max foster. We begin in saudi arabia where people are welcoming a new ruler whilst mourning the death of a longtime king. Funeral services were held on friday for King Abdullah who died earlier in the day at the age of 90. He led the kingdom for close to a decade. His halfbrother is calling for unity amongst all muslims and promising no major changes in the countrys direction. So far it appears the transition in power has been a smooth one, but the new king salomon has a number of important challenges ahead including Falling Oil Prices and the crisis in neighboring yemen. Cnns reporter joining us by phone from amman in jordan with more. Today is a significant day because the International Community will arrive wont they and they will pay their respects today after yesterdays very solemn process. Reporter yes, max, a day after we saw the outpouring of messages of condolences from around the globe, really to saudi arabia to the royal family, praisin
The king ascended to the saudi throne friday as his family laid to rest his halfbrother King Abdullah. Abdullah died at the age of 90 after a battle with pneumonia. His halfbrother of appointed crown prince and heir to the throne. In his first televised address as king, he called for unity among followers of islam. There are, though a number of person challenges facing the new king. For more on that lets bring in our reporter from aman jordan. Certainly one of those challenges could be stability in the region after so many years since the arab spring has not brought that. Hello. Reporter hello, natalie. From the moment that the announcement of the king taking over from his first televised speech sick decrows in the first six decrews in the first hours showing that the country is stable. In the history of modern saudi arabia the Kimberly King domestic has never had a monarch whos taken over and inherited a kingdom with so much regional turbulence going on. If you look at the challenges
What was discussed in beijing. Back to the previous comments. Helping to square the circle a little bit, you said in the case of the president s tweets on this Ongoing Investigation more things will come out that may justify that but in the case of the collusion charges you have listed all the people said there is no investigation there. Right. Why in one case sit sufficient to say you can rule out collusion now and in the other you say more information still needs to come out. Im not ruling anything out. Im merely explaining to you that every person, republican, democrat, obama certainly Obama Administration, across a broad section. About the tweets. In terms of what . That there is but i think that there is on the investigation itself, we know from the people who have been briefed. On the other piece of it we know that its an ongoing thing. And even according to the department of justice in terms of the information thats been provided and chairman nunes that they are still at the beg