tv Worldwide Exchange CNBC September 24, 2015 4:00am-5:01am EDT
there's nothing to lose. artur mas telling cnbc in an exclusive interview that winning a majority in an upcoming election will be the beginning of creating a new independent state. >> the majority of the people are determined to be free. and this is something that you cannot stop. >> okay. let's quickly check in on the ifo, the business sentiment survey which is of course very important with it looks like the current conditions, the index
rising to 114 in september verses the reuters poll and we're looking at conditions holding pretty steady. this is important with the german ifo because the index may have increased in the month of december but this is before the volkswagen cheating allegations came to light and also the migrant crisis explosion so this isn't really indicative of recent events that we're seeing but checking in on the euro 112 levels versus the u.s. dollar. still below that 114 we saw just a few weeks ago. >> also want to bring you the norwegian interest rate decision. cutting it's key rate to 0.75% from 1%. the crown falling on the back of that interest rate cut. it's a very very close call going into that decision. the norwegian economic growth is likely to remain low for longer.
once again hitting a four week low of 9:45 per euro after cutting the interest rate by 25 basis points. they talk about the breleaker economic aspects. we'll talk more about that later on. >> interesting divergence. some are tightening and some are loosening. nancy is standing by live. nancy. >> well, the big focus here following the resignation of the ceo is hitting sentiment yet in the most recent data but we can undermine the impact this crisis will have on the broader german economy. that's because they employ
270,000 people just in germany and that does not count all the automobiles, the part suppliers that also help employ and work for the larger corporation here and industry as a whole, bmw, diamler is crucial for the success here. when you koubt tcount the auto and manufacturers together that created 200 billion exports and giving the profit warning there's concern that we could see additional pressure and perhaps even jobs cuts is one suggestion. we heard that could be a possibility. plenty of pain being felt here not just the in germany but as a whole. >> volkswagen rose by 5% yesterday. vw sent letters back in april to california owners of diesel cars
asking them to bring their vehicle to a dealer for emission service action. reuters reports the car maker said new software would be installed but did not explain it was in hopes of satisfying government regulators. martin winterkorn was stepping down to give the auto maker a new start. they expect more people to follow the ceo out the door. the top two potential candidates for the head role include him who recently joined vw and the ceo of portia. who's the most likely successor? the insider or the outsideer? >> their top pick is the volkswagen veteran and the head
of porsche at the moment. and he's had a long step at audi as well and he's probably the favorite pick of the families as well. back in april it was just the former vw champion holding up a bit of a feud with the outgoing ceo now. but it's also someone that can help ride out this crisis. he would stay on probably just for a few years or so until someone could step up and keep in mind, as you said, he has a serious task already in front of him which was to revive the flag ship, the mass market brand and this is a particular segment that's taken a hard hit in the u.s. where this diesel emissions scandal is taking the most emphasis at this stage. so he needs to be the man on the job to revive that segment and if he becomes ceo of the entire volkswagen unit that raises the question of succession for his job. >> let's check in on the market
reaction. japanese auto makers are really feeling the vw effect as the nikkei reopened for the first time this week after being offered two days. shares in mazda, mitsubishi, toyota dropping 5% in the opening session. you can head out to our website for the live blog on this vw scandal and today we're asking you the question, would you still buy a diesel car? head to cnbc.com to take part in our online poll and find out what others are thinking and saying as well. >> let's have a quick check of the equity markets. the stoxx europe 600 is flat as a pancake. a pretty negative start to the day. we're off by half of 1% 20 minutes ago. this is after we did rebound a little bit in yesterday's trading session. we were up by 0.1% for the stoxx europe 600.
maybe we'll get more direction from janet yellen later on today. quick look at the xetra dax up by 0.6%. vw driving that index up 7%. the cac 40 is flat and the ftse mib is up by 0.4%. nikkei 225 slumping by 2.75%. this is in part because many of the auto makers and suppliers fell heavily. the shanghai comp is up by 0.9% and up 1.5%. so overall patchy across the board. what are we expecting from mr. abe today? >> he is set to announce a plan to raise gdp to 600 trillion yen when he speaked later on today at 1100 cet.
it's centered around child care and nursing for the elderly. it was 491 trillion yen to southwest airlines the economy would have to expand about 22% to reach that 600 trillion yen target. >> just how likely is that? unlikely, isn't it? >> that's hard to say but it's a tough goal to be setting at this point. >> ecb president mario draghi needs more time to decide on any further stimulus measures for the euro zone. speaking at the european council he outlined the challenges posted by he emerging markets and lower oil price to the central bank's inflation target. he outlined the flexibility and said he would not hesitate to ask if necessary. >> should it weaken the inflation outlook over the medium term more fundamentally
than we project at present, we would not hesitate to act. the asset purchase program has sufficient built in flexibility. we will adjust it's size, and duration as appropriate if more monetary policy impulse should become necessary. >> since we're on the central banker theme, let's talk about the biggest of them all. fed chair janet yellen might be offering more clarity later on today on the decision not to raise interest rates. she'll be speaking at 5:00 p.m. eastern time talking about inflation and monetary policy but she won't be taking any questions. traders might be eyeing her comments on inflation as the fed cut it's economic forecast last week but not seeking inflation to reach that 2% target until 2018. we're going to take a breather
here on worldwide exchange but coming up on the program, taking a broader view. facebook unveils a new way to immerse yourself into the internet. plus one of hollywood's most famous iconic vehicles is getting official government protection. we'll take a look at the last century's strangest creations right after this short break.
♪ bleeding gums? you may think it's a result of brushing too hard. it's not. it's a sign of early gum disease... which you can help reverse by using listerine(r). added to your brushing routine... listerine(r) kills up to 99.9% of germs... and helps reverse early gum disease in just two weeks. listerine(r). power to your mouth™! also try listerine(r) floss... formerly reach(r) floss.
also try listerine(r) floss... female announcer: sleep traends sunday.st event don't miss your chance to get sleep train's very best mattresses at the guaranteed lowest price. plus, pay no interest for three years on beautyrest black, stearns & foster, serta icomfort, even tempur-pedic. and rest even better with sleep train's risk-free 100-day money back guarantee. but the best rest event ends sunday at sleep train. ...guaranteed! ♪ sleep train ♪ your ticket to a better night's sleep ♪
>> let's give you info on the economic indicator out of germany for the month of september and that was strong in the last month. we had a print of 108.5 points versus 108.4 in the previous months and that lead to a slight rise in the euro dollar. we're at 11193. also a little bit of an improvement in the equity markets. we want to bring you one very important comment, the german economy looks in robust shape and seems as though the china jitters didn't have a major impact on the export sector. the china slow down has not effected the export sector euro dollar at 1.1194. >> they were looking for it to tick down to 107 but doesn't
factor in the on going volkswagen scandal. >> that's a very important point. most of the managers that participate in this responded to it before september 19th and 20th. >> and volkswagen being the largest employer in germany so it would have an impact when coming to sentiment. speaking of china, the chinese president xi jinping going from washington state to washington d.c. on his visit. he'll arrive this afternoon and have a private dinner with u.s. president barrack obama before a formal dinner on friday. boeing won $38 billion in orders and commitments for 250 narrow body jets and they'll build a 737 plane in the united states.
union leaders are saying they stand to lose work in their jobs to china and no jobs will be cut. the default search engine and homepage that use the new edge web browser. it will make it easier for its customers to upgrade to windows 10. let's check in on boeing and microsoft shares trades in germany and significant declines. we're down 3.3% despite that deal inking. walmart is seeking price cuts from suppliers that make cuts in china saying that the retail giant should share in the savings generate first degree the devaluations of the yuan. reuters says a walmart has contacted 10,000 suppliers in recent weeks asking for cost cuts on everything from home furnishings and apparel and electronics. so with nearly $500 billion in
annual sales walmart has huge sway over it's vendors. let's check in on walmart shares in germany. we're down some .8% or so. but xi jinping he met up with a lot of tech titans yesterday in seattle washington but there was no q and a. >> no q and a. >> a state policy dinner and he made his address talking about encouragement of more foreign players in the chinese market. >> and the dinner with president obama should be pretty interesting. it's not the formal dinner but we know that in the past with the former president, he usually held monologues. that's what he was known for. so i wonder whether the new president will have more of a q and a with president obama because that's certainly something that president obama would foster and that he would encourage but you have to wonder, susan, to what extent he is going to invest in that relationship with president obama because he's a lame duck
essentially. he won't be reelected for president. the u.s. has invested a lot in that relationship and cultivated it very much over the last couple of years but is that going vice versa. >> you know, they met a few times before. in june 2013 and during apec last year in beijing but i want to get back to the tech talk in seattle because you saw mark k zuckerberg was in attendance and they want to hear about what's happening to the chinese market and i was encouraged by a lot of these deals. microsoft, cisco buy into the market with joint venture there is. it seems encouraging but these deals are usually signed during state visits but talking to john huntsman recently who is one of the former u.s. ambassadors to china, in his 35 years this is
probably the most dispondent time among corporate ceos looking to increase their footprint in china. >> sorry to interrupt you here. i'm glancing at one breaking news report saying that 100 people were killed and 390 people injured in a crush during the haj outside. so this is while many of the muslims usually flock to mecca for that annual gathering, 100 people killed. we can't verify that yet. this is solely based on state television but this follows a huge number of causalities and fatal at as that we saw as a result of the collapsing of the crane just outside mecca so another tragedy unfolding in mecca. as soon as we have more information on that we'll bring that to you, susan.
>> let's get to the vote again this weekend. voters heading to the polls in catalonia on sunday to cast their ballots in the highly anticipated local elections there. the vote has been dubbed a defacto referendum and the main proindependence movement is narrowly in the lead. let's get to julia in barcelona this morning. >> thank you so much susan. as you quite rightly point out this is a parliamentary vote called a year early because the authorities here got sick of waiting for the central government in spain to negotiate and the key point to make here is the president is not hiding the fact that if his together for yes coalition make a majority here or get a majority in parliament, not votes.
one of the things that came from an interview with the president yesterday was the fact that he keeps reiterating the need to negotiate. this will not be a messy situation. this will provide help for the region in order to go to the central government and say something needs to be done here. the push that we have seen here is concerned big business. some of the big banks. i asked does he understand the banks concerns or does he see this as threats? listen in. >> yes, this are threats. we think that this kind of attitudes are based on the pressure that the spanish
government is on these kind of financial institutions. in fact, the economy is a dynamic one. so i'm sure that no one financial institutions would like to go out of the market. it would be crazy for them. this is a very important market for the spanish financial institutions but also for other multinational companies. we have more than 5,000 multinational companies with branches investments, factories in catalonia, probably is the more open economy in southern europe so what would be the reason to abandon such a market? . this belongs to this idea of a
attitude and campaign. >> there is a risk of capital controls. he subsequently came out and said actually hold on a second, capital controls would likely be impossible. >> this is not a realistic situation and they know that for certain because who are the owners of the catalonian and spanish debts. the markets. do you think that the markets are going to allow spain and the european union to send catalonia out of the euro and the european union? because the markets want stability. they want to be secure. and they are the owners.
it would be crazy. >> do you see that as a deliberate attempt to again try to influence this vote? >> yeah, i'm sure. and if you listen to the new opinion of the central government you will realize that, in fact, he knows that he was mistaken and now he is saying different things. the role is not to create an alarm to the markets and to the people. >> should he re-sign? >> yes, i think so. in a normal situation he should re-si re-sign. >> calling for the spanish central bank governor to re-sign
over comments threatening capital controls over a separation and then coming back and u-turning and saying that would be an impossible thing to do and to impose on the catalonian region. my sense was really what would end this brinkmanship was allowing them to have a legitimate referendum. the question is do we ever see the central government in spain backing down to that point? which would of course require constitutional change. back to you. >> let's clarify this for a moment because all of this is pretty complicated and you would agree on that point. so what if they do well in the elections over the weekend. what are the next steps them. they'll kick off a timetable where they'll put a number in
place and start the process toward declaring independence. there's a lot of work to achieve. if they don't get a majority they'll be slightly short. they could tie up with a far left party to try to pull in further seats in parliament. so first problem there is you've got what is likely to be an unstable coalition of sorts. a center left, center right and far left who are not that keen on him in actual fact continuing to lead in the region which is the initial problem. the other thing is just because they win a majority of votes doesn't mean that they win a majority of votes so even if they get seats they might not get the majority of voting for independence. this is another huge sticking point. if we could hold a referendum we would be able to judge the votes accurately but we can't. we have to go for electoral seats. there's a whole host going forward. you're right. it's quite complicated. what we need to watch on sunday night and monday morning is percentage of seats that they get in parliament and also the
percentage of votes. these things are both going to be crucial. back to you. >> thank you for clarifying all of that. the norwegian central bank has surprisingly cut rates by 25 basis points this morning. it was a very, very close call going into that decision. only a 10 basis point cut had been price into the market so we're seeing the currency slumping across the board. and even though inflation has been higher than inspected even though the housing market has done well but the big factor really keeping them awake at night is the drop in oil prices. oil prices are off 36% from the
june meeting. susan. >> holy court order, batman, the caped crusader won't have to worry about his ride in the future after a u.s. appeals court rules on wednesday that the batmobile is entitled to copyright protection so the court said that the iconic vehicle's bat-like appearance makes it a character that can't be copied without permission from d.c. comics so our question is what is the weirdest thing ever been patent protected, i disagree with this because we've had so many versions of the bat mobile. if song happy birthday is in public domain and the bat mobile isn't. did you see any characteristics on that machine. >> how is that a distinctive character? >> looked more like a humvee. >> a lot of guys will probably
disagree with us. >> you can tell us what you think about this court ruling and what has been the weirdest patent victory you've ever heard of? you can e-mail us and tweet us and we're waiting to hear from you. >> we're going to go to break here on worldwide exchange. still to come on the program, who will take the wheel at vw following the resignation of the company's ceo. we'll take a look at the candidates offered the top job. need to hire fast? go to ziprecruiter.com and post your job to over one hundred of the web's leading job boards with a single click. then simply select the best candidates from one easy to review list. and now you can use zip recruiter for free. go to ziprecruiter.com.
>> shares continue to rally as a new report suggests the car maker started quitely replacing the controversial software back in april while the hunt for a ceo heats up. >> vw weighs on japanese car makers sending the nikkei lower along with weak export data but prime minister abe reportedly preparing to raise gdp targets. >> german business morale rises in september as economists say china slow down has not impacted the export sector but the survey does not yet reflect the vw scandal fall out. >> meantime, china goes on a spending spree state side. boeing wins a $38 billion contract as president xi jinping tours the washington factory ahead of a meeting with u. s. president barrack obama.
>> let's check in on european markets and how they're performing this thursday morning. the ftse closing up for its best day since the start of this month. seeing gains up a quarter of 1% but we're still looking at one of the worst weeks since september began and also a second negative month possibly. second negative month in a row for the ftse. the german dax up .3%. let's check in on the 50 biggest companies around. the euro zone and pretty much what we're seeing across the rest of the benchmark, we're higher today. >> absolutely. let's check in on the bond markets because you'll see it rising after that came in stronger than expected. the 10 year bund yield is higher by just a tad. the 10 year treasury note at
2.155%. the bunds were unchanged after draghi's speech and i want to mention that when we take a look at the euro dollar. euro dollar rallying quite a bit. why? mario draghi down played the need for further easing. we're seeing the euro dollar at 11187 unchanged on the day. the aussie dollar is still feeling the heat from all the china data. >> let's check in on volkswagen shares and how they're balancing back from the sharp declines we saw earlier this week. we're gaining up some 8% after the ceo re-signed. yes, a report out there suggesting that vw sent letters back in april to california owners of diesel cars asking them to bring their vehicles to a dealer for what they're calling emissions services action. reuters reporting the car maker said the new software would be installed but they didn't actually explain the action and they're hoping this would satisfy government regulators but let's talk about the drama of the ousting of the ceo.
yes, yesterday stepping down saying he was re-signing to give the auto maker a fresh start. now a senior vw source told cnbc they expect more people to follow the ceo out the door. more personnel decisions would be announced sometime tomorrow. let's ask about who is going to fill this top job at vw. the top two potential candidates include herbert that joined from vw and a veteran as wellbeing rumored to be the possibility when it comes to ceo. he's the ceo of porsche. >> well done on the pronunciati pronunciation. japanese auto makers and part providers are feeling the pain after the nikkei reopened. shares closed the session lower with parts maker denso falling over 5%. let's get back out to nancy who has been camped out at the
headquaters of the w. who is the front runner here? >> well, the feeling on the ground is that the front runner is as you suggested, the ceo of porsche. he is a volkswagen veteran and knows all 12 brands and he is also quite close to the porsche family so that's something they like and he's also of the right age given that he could be around a few more years to help with the turn around until someone like diess comes in and is a ceo of the longer run but there's a lot of questions still left unanswered after the supervisory board meeting yesterday. the press conference in which they announced he would be stepping down and one of the ones they brought up was the criminal proceedings. they're looking into criminal charges in the matter and the company said they also believe that criminal wrong doing was
committed we heard from him and here's what he had to say. >> we'll make every effort to clear up the event internally and make sure that those responsible will pay. we will on behalf of the supervisory board create a special task force that will make sure that things are cleared up. >> that was the head of the government this explaining they will be looking into the criminal proceedings. and you brought up the matter of this report of the california environmental agencies. the letters going out suggesting they should get fixes to solve problems with certain issues on certain vehicles and that will raise more questions about who knew what when. so even though we had the resignation, this case is getting started. >> not to mention those lawsuits
and of course those big u. s. fines that are expected. thank you so much. let's talk through what this means for volkswagen. does it matter to you from an investment perspective who is named in the new role? >> yes it makes sense. what we recently got to know is that the ceo if elected to become the head of the supervisory board so this is a financial guy and therefore it clearly makes sense for volkswagen to elect someone as a ceo who clearly has a technical background. >> but still he will have a lot on his plate because what we're talking about now is potential $18 billion in fines.
there could be more class action and civil suits, for example. to what extent would this scandal endanger the financial stability of the company? i know they have 21 billion euros in cash but this could be a huge fine. >> it could be a huge fine but all the speculation at the moment and the 18 billion you are just mentioning i think would be the maximum fine from epa if we compare this with others in the past. from our point of view it will be lower than the 18 billion. we have to consider here that no one has been injured. no one has come to that and therefore i think it's a different case to the gm case or toyota case that we saw several years ago.
>> are you saying vw won't have to raise cash and they can cover any potential fines and whatever else may come their way through existing cash flows? they're not the best cash generator. >> but at the moment, they still have that even if you would assume a major cash out in the multibillion area i think they can absolve that without losing the rating. that's at least from our standpoint. >> holger thank you for your perspective. appreciate it. head of mid cap research desk. for all the breaking news on this story head to our website for a live blog on the vw scandal and we're asking you, would you still buy a diesel car? head to cnbc.com to take part in our online poll and find out what people have been saying. >> let's get the latest on a developing news story, 150 people have died just outside of
mecca. this report is coming from saudi tv. nearly 400 people have been injured and this follows the death of 150 deaths from a crane collapse. it seems early at this point but we're looking into these reports from saudi tv of a crushing of 150 pill grills. >> let's turn our attention into what's happening in the u.s. this can be debut view or a new budget or they face a possible budget shutdown. they'll hold a vote today at 2:00 p.m. eastern time and this is on a stop gap spending bill that funds the government through to december 11th but does strip federal money from planned parenthood. that motion is expected to be blocked by democrats.
we are issuing reports saying that the government shutdown isn't likely to threaten the u.s.aaa credit rating because a few years ago s&p stripped the u.s. of its aaa rating. things got back on track and we're at these record levels once again on the stock market but there's a debate over planned parenthood and this comes from a conservative branch of the republican party that wants funding to be stopped because it's a debate on abortion still and still very sensitive in the united states. >> i want to come back to the impact of a potential government shutdown. you mentioned 2013. we didn't see a huge impact. and you're right, the gdp impact was 0.3%. that was shaved off. that's like another polar vortex that we get in the u.s. every single year.
at the same time though susan, the 16 day shutdown side tracked the creation of 120,000 jobs. delayed start of fishing season is something we saw in 2013. delayed approval of medical products and cost $500 million in lost tourist revenue many because of the national parks are closed. >> this has to do with government credibility as we're rolling into a white house vote in 2016 and republicans they don't want the finger pointed at them once again, especially if they want a republican president in the next 16 months or so. let's talk about what's happening with the pope's visit. don't forget the pope is in town. pope francis continuing his week long visit to the united states today. and he'll later meet with
catholic charities in washington. he later travels to new york city where he'll lead the prayer service at st. patrick's cathedral. you can expect traffic to be gridlocked in manhattan and the big apple. okay. now let's talk about 1 billion euros. that sounds like a whole lot of money because that's how much the eu will give in aid payments to help tackle the on going migrant crisis but with political risk escalating between nations, is money really enough? we'll cross over live to brussels and hadley gamble joins us next.
you look at this in a basic level how many people would decide to live in a refugee camp if the promise of the european union is feasible for them. that won't be stopping the migrant movement to europe any time soon though it may help in the short to medium term. the other question is how they're finding a conciliatory message after days of very very tough rhetoric at least from the eastern european countries. i got a chance to speak to the prime minister. i asked him how he sees the situation going forward. >> it has taken several months for the european union to start moving forward and i hope that following the results of today's meeting this is the start of the new error a in which the europe union will move forward much faster. >> and did you feel like you were strong armed at all into this agreement? >> i think that everyone has actually realized that we have managed to reach an agreement in a very difficult situation and
this should not hinder our possibilities of mutual cooperation in the years to come. >> they were not all smiles but speaking in kinder tones to each other and i got the chance to speak with the italian priel minister and asked him about the money and what that will do for italy. take a listen. >> it's not a problem of money. it's a problem of ideas. for the first time i think european institutions show a very important approach. this question is about everyone and not all about single number states. for me, this means more or less the end of the principle because now the question of migration is
every part of the european institution. >> what he's talking about is the need to secure the eu's external borders and there's a lot of moving parts to this story. they have given this 1 billion euros inside the camps but the bigger solution is how they're going to go forward in terms of syria, iraq, afghanistan being able to bring people back to those countries and what you'll see playing out over the next several days at least as long as these meetings get underway in new york is how they're planning to do that and one of the things being floated already as well is this idea that they may bring mr. assad on board and that's something the united states has long been against. it's going to be going forward at the u.s. and new york and it's anybody's guess how this will end up when we hear from mr. putin on monday. >> thank you for that. meantime, want to cross back to some of the auto makers. bmw now seemingly in focus.
we're off by three and a quarter of 1%. this is a very influential automotive paper in germany. it's a report on emissions test. i don't know what that report says but it may suggest that bmw too may have an emission issue. as soon as we have information on that report i'll try to translate it for you in a little bit when i see it. currently bmw is down by 2.8%. >> that is a concern. what other car makers are in this emissions cheating scandal. let's talk about the chinese president's state visit to the u.s. cyber security top of the agenda for his spade of meetings in seattle washington yesterday during his first state visit to the united states. cnbc was on the ground keeping a close eye on his busy agenda and she filed this report.
>> economic diplomacy in seattle today as chinese president xi jinping toured boeing headquaters where executives a announced china would purchase 300 new planes. also meetings with dozens of ceos. in the morning warren buffet and mary bara and tim cook to name a few. echoing what he said in a speech last night about china's faltering economy he told att d attendees today he's aware of the economic risks and challenges and that steps are being taken to address them and also said that china can maintain a high rate of growth for the year to come. honeywell ceo told us before the meeting he would raise a number of concerns. >> state owned enterprises need to be more open. they should open up their air space. if you try to fly through china there's huge swaths of the country that you can't fly over.
>> he spoke with us after the meeting and said that cyber security was topic one. >> commercial attacks on companies like ours are real. they're real and they're from china. the chinese can no longer turn a blind eye so that. >> is it the government attacking you? >> i'm not going to give you that information but we're coming from china. we're working with all the government authorities. company of high-technology capabilities like ours, this is our number one, number two, and number three concern right now so i think the appropriate amount of strength and resolve out of the u. s. government is appropriate. >> did he address it enough for you here today? >> certainly the beginning. ip cyber was mentioned in his remarks. yes awareness is high. what's going to happen out of awareness? the rubber has to hit the road on that one. >> in the afternoon another meeting with ceos at microsoft's headquaters. a much larger group of attendees but also more secretive. the focus the topic of the
internet and rules china wants to impose on foreign company which would give access to the data. the president leaves tomorrow to have a meeting at the white house with president obama. some kind of cyber accord akined to the nuclear accords of the cold war yet there's a lot of skepticism about whether or not that can be achieved on this visit. in seattle, cnbc. >> in addition to opening up the chinese economy, honey well international ceo telling michelle that he was eastbound couraged by obama's stance on cyberattacks and on private companies and they should be off the table. he outlined what he hopes to come out of president xi's visit. >> this is usually a case of you want sides to kind of move together and they have some things that they're concerned about. we have a number of things that we're concerned about and you're hoping for that dialogue and that there's a discussion about how can we resolve these things and create an environment with a number 1 and number 2 economies in the world grow peacefully together over the decades.
>> we also have indian prime minister modi in the u.s. this week as he faces increasing pressure to deliver on economic refor refo reforms and he'll meet with tech titans of silicon valley as they look to strengthen tie with the world's third largest internet user base. others including an address including 10,000 ex-patriots in san jose on sunday. >> holy court order batman, the caped crusader won't have to worry about knockoff versions of his ride after they said it is entitled to copyright details. it's a character that can't be copied without permission from d.c. comics. what's the weirdest thing ever patent protected?
e-mail us at firstname.lastname@example.org. our personal handles are at the bottom of the screen. what do you think? >> i'm not sure a agree with this ruling. how many different models and renditions of the bat mobile have we seen? which one is patented? which one is copyrighted? you have adam west, michael keaton in the 80s, christian bale in the 2000s. >> you're a batman fan. i didn't see many of them. >> and you know who is the new batman now. >> who was that? ben afleck of course but he kale under fire for that, didn't he? there you go. you have to tell us american courts which one of these bat mobiles are actually patented. let's talk about technology and facebook. they are rolling out a 360 degree video in the news feed in the future for web and android phone users. the videos will give users an immersive experience they say.
allowing them to watch a scene from any angle. mobile users can tilt their device in any direction to get a panoramic view. disney uploaded a 360 degree video from the new star wars movie and nba star lebron james lets viewers go behind the scenes during his personal workouts. the feature will be available for ios devices in the coming months. >> want to get back to the bmw share slump just off the session lows but giving back all the earlier gains. this is on a report in germany on words that more car makers may have emissions issues they exceed the rules 11 fold. so they're exceeding them massively. i'm not an engineer. i'm not a technician. i don't know exactly what that will mean but it may point to the fact that more and more car
makers, not just vw may have the emission issues when they're actually tested on the road. of course we'll keep you updated on that story. we're now seeing bmw slump. >> we're awaiting comments on them on the latest reports. we're going to talk about fed chair janet yellen because apparently we're going to get more clarity later on today she'll be speaking at 5:00 p.m. eastern time. but everybody wants to know what happened last week.
good thursday morning. welcome to worldwide exchange. i'm susan li. >> these are your headlines from around the world. >> vw rallies despite a new report suggesting the car maker started quitely replacing the controversial software back in april while the hunt for a ceo heats up after martin winterkorn re-signs. >> bmw shares plunge on a german newspaper. reports suggesting the car maker overstepped emission limits. >> investors are welcome. chinese president xi jinping vows to cut