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tv   Street Signs  CNBC  July 13, 2016 4:00am-5:01am EDT

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will secure the top job in theresa may's cabinet. shaky ground after downsizes expectations. it's saying it is rethinking hand aproefls after the brexit vote. the not so little engine
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that could. alstom on track. burberry falling after less than expected and investors welcome new leadership. hi, everybody. good. welcome to "street signs." really glad you're with us today. have a packed show for you today and we also have news coming out right now from the iea with regards to oil. they came out with that latest report and grabbing some of the ahe headlines. they're saying the oil remains the very high stocks are a threat. the oil stocks are close to topping out they're at such
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vaca elevated levels. may and june have now reached a record high and it is at the highest level since 2009. european oil demand has surprised to the upside is unlikely due to uncertainty following the brexit referendum. they're also raising the estimates of global oil demand growth for 2016 by 0.1 million barrels per day from the last month's report to 1.4 million barrels per day in 2016. let's talk a little bit more about this with a man who knows a lot about this report. head of oil division at the iea. just kind of pull out the ones that you think are the most noteworthy from what i just mentioned there.
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>> reporter: >> well, we have not made that many changes to the fundamental number. we have slighted changed the expectation for growth in 2016. it's a small increase. the main point we are point r putting akrotsz is although the oil market is coming close to balance in the second half of 2016, it is doing so against a background of a very, very high level of holy stocks which is have been building up over the last three years or so. so as the phrase you used, the high stocks were made a damper in on oil prices. we've seen a in the last couple of months or so brent trading around $40 a barrel. i think we're rather range bound for the time being. >> an oil consumer being one of the biggest surprises. >> and europe did you say.
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>> yes. >> europe has slightly surprised us. i think we'll have to see if the numbers are going to be maintained or not. europe is such a mature market. the british referendum outcome has added another layer of of uncertainty. health of the euro zone. we don't at the moment. we haven't really factored instead change to our balances in 2016 and 2007 resulting from brexit. it's something we're clearly going to have to watch out for. it's more likely the outcome for brexit will be negative than positive. we'll have to wait and see. >> are we still seeing this build in stock globally that we were talking agent here a couple of months back. higher stock build across the board. is that still taking place? >> yes, although we're close to
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balance, stocks are still building. when you buy very small amounts compared to what we saw in the first part of the year. in the whole of 2014, the whole of 2015 and for 2016 as a whole, global oil stocks have been increasing by about a million barrels per day. crude stocks may start to come down in the next few months when we finers get back into full production. all that could mean is oil products start to build up again unless oil demand is sufficiently high to soak up the extra products comes out of refinery and going to stocks. it's a very difficult situation. that's why we're fairly -- we're not expecting a major breakout of prices one way or the other, but we're certainly not expecting a breakout of prices on the upside simply because the existence of this large stock. >> neil, good to see you.
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>> thank you. >> head of the market division at iea. we are looking at life pictures here of 10 downing street. is that the postman? delivery. the leader david cameron will seen part for his last session of questions. he will then head to bucking ham palace to submit the resignation to the queen. with the kiss of the hand thus paving the way for theresa may to be the next leader. jeff, it's going to be a big day. we're going to get a new prime minster. >> absolutely. it's going be a big day for a number of reasons. not only do we get a new prime minster, but we see the first day of campaigning begin for the labor leadership contest and i have john mcdonald with me, the
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shadow chancellor and i want to talk to him right now about what this contest is going to look like. john, thank you for stopping by here. we now effectively have a competition between jeremy corbyn and angela. what are your hopes as far as the campaign is concerned. >> we also have another company data. aaron smith has come to the filed. we might get others. it will be like last year i believe. they get along pretty well together. i think the same sort of pattern. party members will be invited. it's a long period. six to eight weeks. whoever comes out as the leader at the entity will be behind the party. >> the party has struggled so far to find that unity.
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why do you believe the party will come back together post the results of this election. >> i have worked with most of the labor over the last 20 years. they're good people. they have interest of the party and more importantly the country at heart. they're democrats as well. when the members haves spoken, those mps will participate in debate as well. hammer out the differences and at the end of that respect our wishes. people are recognizing responsibilities on their shoulders. for it to the have an effective oppositi opposition. >> is it a matter of some regret to you that you're in this at the moment when you could be taking on the conservatives over the stuart shewardship. i have offered on a number of
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opportunities a bipartisan approach. we tried to work with the government on that to get the best deal in europe. i think the leadership is a distraction, but it's here now and i am a democratic. we'll listen to what they have to say and then unite the candidate whoever it is. >> theresa may's economic policies looking a lot like ed mill van. is she steel lg labor policies. >> she's been nicking some mine as well. i've said we need long-term stable investment. she's accepted that. i also said our relationship with europe needs to be delicate ly taken care of. the issue isn't about accepting the argument. it's about delivers. as born accepted some, but never delivered like on long-term
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investment. he went around with p high risk jackets all over the country, but never delivered. i don't think she'll deliver. i don't think she'll deliver about rebalancing our economy, attacking the quality that we have. i don't think she'll take on the vested interest of wealth and the particularly large corporations in the country. >> she already said she's going to focus on ceo compensation. >> aif heard it before. >> she's talking about clamping down on tax driven. >> yes i've heard it before. george osborne told me that. he told he tax evasion, tax avoided and then ve towed all the agreements coming through europe. i've heard the words. they've never deliver on them. this is a woman who voted for the trade union act. she voted for all the measures
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that cameron brought together. you kl say the cords, you talk the talk you have to walk the walk and she never had. >> the question around her comments with regards to gordon brown and whether we need a national election in this country, a national general election in this country have come home to roost to a certain extent. would you advise as quickly as possible to go to the country. >> we always said we want a general election. if she wants to seek a mandate, that's up to her. it's solely in her hands, but if i was an incoming prime minster without being elected i would want a mandate pretty quickly. we'll use this leadership to prepare the ground for a general campaign. >> corbyn is your man, i know. if it isn't jeremy corbyn moving
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forward, are you prepared to stay in a senior role if that is what the selected leader wants you to do? are you prepared to stay around to help the shadow labor government? he's going to win. >> john, thanks so much for joining us. i'll send it back to you guys in the studio. >> jeff, thank you very much. in the meantime we need to check in on the markets. >> of course it's been a remarkable turn of events for uk politics. so is the story for european union markets here. the global rally is holding just barely. the stock 600 higher now by one-tenth of a percent. we do have the stock 600 now nearing it's highest level in two weeks. really getting back a lot of
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post-brexit gains. in the immediate aftermath we did see stocks lose about 11%. overall the momentum is continuing. some doubters hence why the gains are being kept in check. you see the ftse 100 off by s e sosom sosom some .22%. looking at implications of tyler flowers brexit vote. seth ra dax. french market higher by .15%. the ftse might be slipping back into negative territory. off by .40%. reach a deal with the eu when it comes to some way around the
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requirement. i did speak with the finance minist minister. i'll bring you those comments in a few minutes. >> thank you very much indeed for that. let's talk about the economics here. we heard a little bit about theresa may's view on the economy. she talked about workers on governing counsels or boards similar to the german method of running large businesses, tax driven. not a good thing as far as she's corned. neither is cheating on taxes that have been individual or a corporate level. and perhaps the one policy that has really stood out in the way that it may affect business is the movement, the free movement of labor of course in the relationship with the eu. so how is the eu poised at this point? so let me ask you that question. is it necessary or likely that we have a recession in this country as a result of the brexit vote? >> i'm fairly optimistic we can
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avoid a recession. with the news that we get a new prime minster two months earlier than expected that really suppresses the uncertainty. if the bank of england stepped in tomorrow the uk with avoid a recession. >> the ftse has come back since june 22. we're back through 1.33 on cable. that market has rebounded very quickly, but will business confidence come back as quickly. >> that will probably stay suppressed until negotiations gets underway, but the uk economy is fundamentally in good shape. it's been growing at a stable rate up until this point. the balance sheets have improved. with some policy help, the uk policy is set to buff up
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confidence shock and demand shock. >> you say with a little bit of help. tomorrow we get mark carney. for is a get deal of speculation as to what he'll do. what do you have pence ld in terms of rate cuts. >> it needs more than rate cuts. we have cannot materially cut interest rates. usually during easing cycles the bank cuts. if you go really negative you're going to have a hard time. the bank of england behind the economy and in front of the curve or we'll probably see from qe from the bank of england. >> 25 basis points, what kind of cut are we talking about. >> i think probably 25 basis point. could be 50 basis point to take it to zero, but i don't think the bank of england will go below that. >> what concerns then about the pound. if he does go for a rate cut, that may remove some of the
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recent fear we've seen come back into sterling, but would you be concerned that makes our balance of payment position look a bit more vulnerable. >> no i've got the pan moving side ways. probably finish in december around 1.30. ting biggest risk around sterling have now passed. that risk was there, but it's not basically subdued. we have sticky funds entering the uk. if the pound stays low, it may actually help the current account help the improve the trade balance, improve the income flow. . >> thank you very much for symptoming by. kallum joining me. thank you. back to you. >> thank you very much. jeff there outside westminister. we're live on facebook this week. live streaming the show. you can get your comments and questions through on facebook live. we are watches and seeing what you say.
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should the uk hold a snap general election, yes or no and those of you writing in already both on facebook and twitter poll says no. keep your comments. >> it's a good debate. you want some political stability finally after the referendum shock so the idea of another election disturbing them on the other hand you have the legit ma si question. >> that's the big question. at what point who you would she decide to cause a snap election. >> what happened if there was a snap election and people said no? then what? >> exactly. i think a lot of this will come down to who theresa may appoints in her cabinet. still out of anger for those who voted to leave concerned she was in the remain kampb. they want to see people around her who supported brexit. >> we'll have more coverage on this matter more many, many many
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months. chemoyour comme keep your comments coming through live on facebook. >> we'll be watching live too. >> a lot of people are commenting on the cat. having to say good-bye to the owners. >> clearly the camerons are not that attached. >> apparently it's a civil service based case, they say. >> french minster has held the first rally of his new by partson movement. speculation is mounting that the 38-year-old may run for president next we're. macron refuses to deny or confirm the rumors. let's get a look at the italian banks at the moment. most still in positive territory. the italian banks issue was the
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giant elephant in the room. although it was nol formerly discussed, italy finance minister sought to play down concerns that the struggling sector could trigger the next euro zone crisis. well, i had a chance to speak with him at the sliengs of th sidelines of that meeting. >> working very hard with the commission who is taking a very cooperative approach. i'm confidence we will soon reach an agreement which will be in the best interest of italy, of europe and within the rules. >> you talked quite a bit about protecting savers and any kind of deal for the banks. can you do that without government help. >> the government is putting in place precautionary instruments to deal with possible if needed liquidity problem that is in place. we are starting other precautionary instruments in case this is needed vis-a-vis the market solutions.
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>> how do you respond to criticism that italy missed its opportunity to take more action with the banks before these bail in rules were put in place. do you regret further steps weren't taken. >> i can only speak for my government and my office. we have taken all the possible actions within the rules in europe that in the meantime have changed much dramatically becoming much tighter than before. >> do you think the eu takes seriously the risk the banking concerns could turn into a political crisis as you get closer to the referendum vote for the constitutional reform. >> politicals and economics are intertwined so this is a no-brainer. >> coming up on "street signs." uk is hours away from a new prime minster. stay tuned. vote for yourselves as well on facebook. we've been asking the question there and we'll be reading out what you think. >> that's right.
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>> more facebook live for those of you watching by our facebook page during the break. see you in just a couple of minutes.
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hi, everybody. welcome back for those of you who are watching through normal television. i guess normal television. >> we're on both today, normal tv, facebook. >> facebook live with content for you during the breaks as well. you can always head over and take a look. bar rat developments telling reuters the uk market is likely to slow down and not speed up. just looking at some of those home builders there, barratt still seeing quite a bit of
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selling taking place. you've got just hanging on to slight gains. it will be interesting to see whether or not we see a sense of calm in the coming months for these home builders or whether we have to go down the route of speculating what's going to happen to stamp duty and all that. we still don't know. >> the big hope of course is with the new leader they get close toer to the article 50. >> it's interesting and i would be really curious to hear what our viewers have to say on facebook or twitter, whatever avenue you choose to find this on. >> it's interesting whether or not article 50 will be triggered. who think the article 50 might not be triggered. >> speculation is out there if you listen to those no power they say get over it. it's time to accept it. theresa may saying brexit is brexit. there is a sense people want to
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sense the reality and move on. >> let us know what you think. find us on facebook. >> getting a look at another big mover here today. akor which the french groum values at 7 billion euros. morgan stanley says the plan leads a high-quality asset light hotel and has given the stock a price target of 39 euros. accor noekia and samsung expand property. alstom commercial activity has been very strong and should translate into orders in coming quarters. >> we continue to watch the pound ahead of the boe decision tomorrow and coming in morning said the slump in sterling has
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been a significant windfall for voluming doubled the day after the referendum result. the executive cautiously confident on the months ahead. >> steinhoff has agreed to buy the rest of pound land. sending shares sharply higher. the all-cash deal is worth 597 million pounds. this comes after t sometimes. on the complete opposite end of the retail spectrum. we're taking a look at burberry. the luxury retailer is cautious on outlook for whole sale revenue. particularly in the u.s. joining us now for more analysis is stacey. joining us from milan. great to see you. it's usually here onset or in new york, but there you are in milan. once again we're reacting to
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burberry. there was a strong uptick after the news of the knnew ceo and t stock is pushing higher. is this a lesson that traders should be cautious here. >> i think expectations were very low for burberry. they came in down three. on top of it we had the news that bailey will become president and focus on deny and what he should be doing. their bringing in management from outside see lean as a ceo. we're talking about the u.s. looking a little more cautious here. again not a surprise the numbers out of u.s. particularly getting hit with tourism withhe moves in sterlin well, but those economic issues aside, let's talk about the company's fundamentals.
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you're among voices say r we're relieved for design, but what is the value proposition of the new ceo, what do you expect him to bring to the table. >> not coming until 2017, but you want your designer to focus just on that and not be worried about the day-to-day operations of the company. you know, i look at the product that's hitting stores now. the patchwork bag sort of is reminiscent to me of the bag way back in sex in the city. they're a home run. the company is doing great products. they're also doing cat walk to ecomers and store directly. we no longer have to wait for that six month. that is creating a sense of urgency so i think they're on the right track. >> thank you so much for that analysis. great to see you. that's stacey president of sw retail advisers.
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>> plenty more to come on "street signs." we're live on facebook today. still to come, choppy waters in asia. decision to reject china's claims over the south china see.
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hi, everybody. welcome back. you're still watching stienz. these are your ahead licehe on shaky ground, shares in uk homestead builder sliding after downsizing expectations saying rethinking land approvals
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after the brexit vote. the not so little engine that could. sharing climb higher as the transportation giant reaffirms the sales target despite the drop in first quarter orders. big boots to fill. shares in burberry climbing higher after sells fall less than expected and welcomes new leadership. >> hi, everybody. welcome back. you are watching "street signs." this morning we're setting ourselves up for a slightly lower start to the session. i would say slightly is the word there because we're looking at a flat start. after this massive rally we had. >> massive and closing highs. listening to traders speaking to u.s. colleagues yesterday. they're saying we almost welcome a little bit of a breather here because people starting to get worried about exactly what is driving this rally aside from expectation of central bank
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stimulus, but the picture now in europe is holding higher as you can see, but mixed now as we kick off about an hour and a half into the trading session. we're looking at the ftse 100 climbing back into positive territory, but just barely. all eyes seem to be on downing street on the new minister in waiting. xetra dax slipping. and the ftse might be under performing weaker by a half of a percent. we've seen a lot of action in the italian banks once again. everyone watching to see whether or not the italian government will get some sort of relief when it comes to eu officials on the rules regarding the italian banks there. >> in asia, one of the bigger story there is coming out of japan with shinzo abe ordering a new round of fiscal spending. we have been talking about this for the last couple of sessions. he had the election victory on
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sunday. now having met with brennanky, there's a lot of talk about whether the solution could be impleme implemented. that's why we saw movement to the yen. european commission president, juan claude yaujuncker has call for china to make more business. in beijing, union is. >> thank so much, louisa. europe leaders are here in chie any for the first time. the european union commission officials are here because they're trying to relay some of the concerns among the chinese about the uncertainty around brexit and the impact that could have on economic ties. europe is a very important
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trading partner for china, and today president juncker stressed again the uncertainty over brexit wouldn't have any impact on the eu's relationship with china, however, ec officials did stress their concerns that other issues such as the trade barriers, as well as excess capacity in certain industries here like steel could hinder further and closer business ties. this is what one official had to tell me earlier today. >> there is a problem. many european business leaders say they don't have equal access to several markets, different markets, automobile sectors in china's economy. that is one of the issues which we discussed constantly with chinese authorities. we understand it means that they have though do major structural
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reforms in this country and it will always take some time, but nevertheless, things are improving. that's why for instance, investment in the eu and china is very important because there identify the market or identify the areas where port side should have access to each other's market. this is currently a problem, but our message is always very strong that when you want to modernize your economy, you need for investment. you have to open up your market because it's the way to be productive at the end and competitive and also create more prosperous china. >> meanmeanwhile, after two-day talks reaffirmed his commitment to market reforms and also said the country would address most of these glut issues in steel.
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louisa. >> you nis, thank you very much for that. now asian countries ty ies tuss with china over the south china sea. the judgment was in response to the first legal challenge to date of china's continued to effort to build artificial islands in the disputed area. nato expanding military presence in eastern europe. joining us for more on that is hadley around the set here. you have just come back from the nato numt in warsaw. this was a point of discussion there too. i believe secretary john kerry saying the agreement should be fully implemented by the time president obama leaves office. the clock is ticking on that one, we know. how likely is that. >> it's a big question. it's kind of outstanding. you have to look from the
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broader picture. for president putin, for example. what we saw over the last couple of weeks particularly when nato summit was ongoing in poland was an uptick in the fighting. with russia pull uing out of recession. you have to remember you create problems in other countries when your own country is facing difficulty. given fact nato is not going to accept ukraine as a full member any time soon, the real question i think for everyone at the table today in brussels is going to be talking about, you know, these near misses with flyovers. they're going to be talking about near misses with ships in the mediterranean. that conversation is ongoing not just between the united states and russia, but between europe as well. the question going forward is how closely that can collaborate on those issues while at the same time keeping the pressure on. >> what do you think russia's response could be from this.
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it seems like there's this feeling of europe saying it's okay to take a hard line on russia and russia saying you're being way to hysterical. you're overdoing the russia threats. >> you have to get real at some point. depend on who you speak to. even amongst nay to members we heard a deferred tail. we heard from the eastern european very happy. obama was strong, cameron was strong, but the french were not strong. you would think they would be on board with what nato was trying to do, but not so much. the jgermans we heard a lot of talk they don't agree nato's policy is a good one. really going to be interesting how the uk's absence from the table at the eu is going to impact sanctions. they only extended them for a further six months.
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>> be keeping a close eye as theresa may gets ready to take office as well. . hadley, thank you for joining us. meanwhile in emerging mar t markets hopes of fresh assets. joining us now is david, head of eea. david, pleasure to have you with us this morning. a lot of people scratching their heads and wondering can this rally continue. of course we've seen emerging markets benefit. when we talk about all hope on central bank stimulus and putting that aside, are you confident that had run will continue. >> the emerging markets are all about what's changing, right, and it's getting better. so em is not as great as it used to be when china was going at 15%, but it's getting better. it was terrible for a number of years. we had recessions in a lot of markets like brazil, russia only last year. now these countries are climbing
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out of recession. investors are -- they like emerging markets. they have the bare market. reduced positions very substantially. at the end of the day and especially consider the yield in the develop world is negative in a lot of places. em doesn't look that bad. you want to hold the dimeler which is triple b rated negative yield or south africa, just giving you 9%. >> let's talk a bit more about china. you have been looking at some rankings and china moving down slightly. we did get fresh data from china too. what's your real take? >> so, china is slipping a little bit in the fundamental rankings. that's not very surprising. they just burned through quite a bit of reserves. the banking sector is getting weaker. it has lost in our regular ranking of em fundamental, but it's still ranked number two.
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growth is actually holding up. if you -- i think we shouldn't overstate the weakness. you have to consider they have been weakening the currency. no surprise to importing less. if you look at imports, they're actually up so domestic demand isn't that week. they have been able to weaken the currency in an orderly manner recently without causing disruption. that's good news. means some support for growth. >> so you have among the big emerging markets the three weak spots are still brazil, turkey, and south africa. brazil actually has improved somewhat because of the weak currency. they have been able to bring down their external deficits. of course we also have some prospect of political reform. they have been the big rally of year. we think that can continue.
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turkey also relatively vulnerable still. south africa is the one we're still concerned with the investment rate this year. again it's all about what is expected. everybody thinks africa lose investment grade. if they don't, they would be a positive surprise. >> asking for the philippines. shares there at more than a one-year high. vietnam as well. we're looking at stocks there. are there opportunities to be found in markets like this or is that done? >> yes, in fact investments have been emerging market equities. has been crowding into this smaller asian markets because they have strong consumption growth and that's what in fact torres have been looking for in the last few years.
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we prefer commodity driven markets. we prefer the likes of brazil, russia, but also china relative to these asian countries like philippines, people have been hiding for a long time. >> i have to ask you about venezuela. the situation seems to go from bad to worse. the president is putting the armed forces in charge of the courts. the food supply coming in there. is there any upside there. >> in the short term, things seem to be getting better. if you take a step back, it's really fascinating. if you consider now they have the largest oil reserve in the wor world. if you actually privatize their oil company, it would be significantly bigger than the external debt. in the long-term, the short term they clearly miss. in the long-term we have to assume they have the ability to repay the debt. >> thank you so much for joining
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us. i just want to get you up-to-date with banco popular. we're just getting some flashes through studying alternatives to decrease the unproductive assets in the balance sheet from 2016 to 2018. they are saying they see the impact of the sale of assets from at least 4 billion euros gross. their analysis to set up a vehicle to consolidate a portion of the assets as well. so just a bit more news on banco popular after some recent changes. >> we should mention the symptom up 3% there. meanwhile, there is quote, big money to be made by shorting stocks if equities pull back from the current peaks. select i'lly betting against
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shares. the s&p closed at a record high yesterday for the second day in a row. investors continue to keep an eye to the fed and this is fed policymaker loretta estimator say in the meantime the counter- part, that is kneis neil, said testimony fed should be in no rush to raise rates before the factors improve. >> now coming up on the show, video killed the retail star. remember that song? >> of course. >> the creator of an app who has created a new way to shop. how many of you buy stuff on what you see. >> never done video, but fan of the retail app so i want to check it out. >> i want to buy a lion and tiger now. coming up on the show, uk
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just hours away from a new prime minster. does theresa may rule out the likelihood of a snap general election. stay tuned. we are live streaming on facebook now. more content for you. we'll see you in a second.
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welcome back, everybody. if video content is king of the world. can it work for mobile world too. video viewers their 1.7 more times likely to buy than those using traditional methods. founder and ceo of the app joins us. talk us through yeah, what is
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it? >> you know, i'm a shopping lover and i'm a video lover so i thought why not combining them both in one app. we were just recently called from ryan hoover, the founder of product producton, as snapchat meets qvc. you watch videos, you can buy and sell in our app by being very entertained and you can do your purchases immediately. >> so you click on what you see in the app? how does this differ from somebody talking on youtube about a product they love. >> yes, because it's all seamless inside the app. when you're on youtube, you may be being transferred if there is a link embedded to do your purchase, to go to the website and you are five clicks away so
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in our app, you can immediately purchase. you see a wonderful video from a brand, even influence youtuber. everyone who wants to sell something can upload a video in our app and then you can immediately purchase it. it's just one click away. you press the buy button and there you go. >> who are you sellers in this? is it an average similar to ebay? could louisa and i put up an old jump we have and try to sell it or is it for new retailers and how are they making money and what is the percentage you get? >> it is in a way it's is to see to see and see to see and everyone can be a seller in our app. currently we just launched a couple of days ago and we launched our public beta. currently we have a lot of professional brands already on
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board from fashion brands, emerging fashion designers, to already online retailers, for example, mr. specs who is one of europe's largest online retailer for glasses, but we also have some very nice influences already on board from the u.s., from berlin, europe, to asia. >> i have to ask about the fundraising environment because i know you've been speaking. you've been raising money yourself. a lot of concerns over the appetite for investors into private companies specifically in the wake of the referendum vote. what are you seeing? >> well, i have to say it's now we just raised our seating a couple of weeks ago. i have to say i have no problem at all. we launched just a few daze ago and already have so good
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feedback. thankfully we were immediately discovered by product hunt, which is one of the big tech blocks in this world, so yeah. already we have interest coming from investors from the u.s., but also from europe. >> all right. . thank you so much for bringing that. that is melony moore, founder and crow of yeay. >> thank you. the race for the white house still on the mind. the ft of hillary clinton. goes to show big day here in the uk. people definitely keeping an eye on the uts. donald trump is set to unvail his voice for vice president. that is according to nbc sources: short list is thought to include indiana govern mike pence, new jersey govern chris
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christie. meanwhile bernie sanders has now formerly endorsed hillary clinton more than a month after he lost the democratic presidential nomination. joining us now for more on that is tracey standing by in washington with the very latest. >> reporter: hey, there. if only we could do did adds quickly and easily as the british. this has been a very belong drawn out process. now it's come to an end with donald trump having to choose a running mate. they were together at a fundraiser raising a million dollars in i understood last night. that's important because indiana is a swing state in this election. donald trump giving out a hint that the next time the people there call on pence, they may be calling him vice president instead of governor. we don't know for sure. that announcement is supposed to come on friday. some of the names you mentioned also on his short list. meantime, things a little bit easier for hillary clinton now that bernie sanders is backed
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out and fully and formerly endorsed her. she has a speech coming up today among other things she wants to talk about party unity. the big challenge for her has been bringing along all the enthusiastic progressives behind bernie sanders. more than 8 out of ten of them are willing to vote for her. >> that you think fnk you for t you make a point if only the u.s. could do it as fast. on that note if hillary clinton does win the race for the white house, she will join a growing pool or female leaders with theresa may hours baa from becoming british prime minster. it's an interesting post of how many female heads of state are out there excluding of course the monarch figures. you would be surprised. how many do you think. >> 12. >> 15. merkel, chilean president, but a lot of surprises there as well.
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that is the main list. stay with us on twitter, we will tell you others. that's it for today's's show. >> i'm louisa bojesen, thanks for watching. thanks for your comments on twitter and facebook as well. we'll be here tomorrow, same time, same place.
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the leaders and where the markets head from here. straight ahead. plus the short story following in fact terror. says there's big money to be made. his strategy and how you can profit from it coming up. and happening now, david cameron leaving 10 downing street just minutes ago preparing to officially step down adds british prime minster and hand othver

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