tv Street Signs CNBC July 4, 2017 4:00am-5:01am EDT
hello. welcome to "street signs." i'm carolin roth these are your headlines european stock markets are lower, but m&a boosts a few individual names among them germany's stada after the generic drugmaker says it could get a renewed bid from private equity players bain capital and cinven santander slips as it launches its cash call, pricing the rights issue at a 19% discount to its closing price yesterday, as it looks to fund the takeover of banco popular.
argos delivers fo sainsbury's as the uk retailer reports like for like sales ahead of forecasts, while cost cutting improves its bottom line good morning happy independence day to those celebrating it today volumes will be lower across europe as a result of that let's look at the ftse 100, off by 0.3%. the cac 40 off by 0.2. the xetra daxtrending lower. oil prices reversing recent gains. we've seen eight days of gains let's show you the sectors one by one autos, insurance and banks higher technology, telecoms a touch lower. i wanted to come back to some big stories. german generic drug company stada is trading higher as bain capital and cinven may seek approval from regulators to submit a revised bid to the group. and now let's talk about clariant a group of shareholders urged
others to rejected the proposed merger with huntsman corvex says the deal won't unlock value and we saw some big moves in the u.s. dollar yesterday and the u.s. two-year yields they closed at the highest level since 2009 in yesterday's session on the back of the isn data which showed a blockbuster jump soaring nearly 3 points to 57.8 the stronger than expected manufacturing number pushing the dollar to a seven-week high. let's talk more about the moves with marilyn watson from blackrock. good morning to you. how long does this selloff in the bond markets in the u.s. and here in europe last? as you know, we've seen low volatility in the markets for a long time. it's going remain low for quite a considerable amount of time to come given the actions by the central banks. we would expect this to continue
further. they've been triggered by various things such as the data in the u.s. yesterday. we had strong data coming out of the eurozone as well comments from central bankers including mario draghi, mark carney also fueled a little bit more movement. i think what we're seeing are still movements within the year to date ranges we have not seen anything that has come outside of the ranges that we've seen so far >> how do you reconcile this with the fact that inflation numbers are still low. and the price component of the ism manufacturing index, that was quite low as well. that really doesn't go together with the bond selloff, does it >> i think it's something the central bankers in particular have to grapple with growth figures on the one hand, inflation is continuing to disappoint on the other hand not just in the u.s. but in the "u" and elsewhere. i think it's something that at the moment you can look through, so you can see temporary factors in the u.s. with wireless, various things that are dampen down inflation we think that technology and the
impact of that is continuing to have a depressing impact on inflation and will continue to do so. obviously in the eurozone as well, inflation remains dampened due to temporary factors >> you mean oil prices >> the oil prices have a huge impact if you look at impact of energy on core inflation, that's helping to haul it down. for the time being, central bankers have suggested they're happy it look through that look through the fundamentals and the rest of the data for the time being we're comfortable with where it is >> who takes the leadership when it comes to the bond selloff and spike in yields. last mu triggered by hawkish comments, this week it seems treasuries have sold off the ten-year back above 2.3% the two-year at the highest level in eight years, precisely on the back of better data, and we expect a fairly strong print when it comes to the jobs number
on friday. do you think the u.s. could take the leadership >> i think the market can focus on one thing at a time last week it was about the ecb now that the tension has shifted again, and it's on the u.s. again, it's quiet markets at the moment given the holidays in the u.s. and canada. >> are you saying we shouldn't read too much in the moves in the market, this is summer trading? >> to a certain extent, yes. any moves we see will be incredibly slow. the moves are still within the year-to-date ranges. any moves we do see from a hawkish standpoint from either the fed or from the ecb or the bank of england will be so slow and gradual, i think it will take a long time for it to take effect >> we're looking at a reuters report saying ecb insiders are nervous about making more hawkish signal at the july meeting. after the ecb got burned last week with draghi's comments, they are very, very careful
about saying anything that could be interpreted as remotely hawkish next week. >> all eyes are on the ecb there's a huge expectation that they will continue to taper next year everyone is looking for signs about continuing to taper the asset purchase program what they'll do when they announce it a lot of expectations for september, but they could be before or after that so i think there's so much scrutiny on the central bankers, so much scrutiny on what they'll say and do because the market volatility is so low, then we are just seeing these little spikes based on the communications from central bankers. >> let's talk about gilts. the market pricing in the 90% probability of a 25 basis point hike next year pricing in one 1and a half hikes by the first quarter of next year is thatted a kuwa ed ted adequ?
>> i think there is a huge amount of uncertainty obviously in relation to brexit, in relation to the uk economy we saw that also in governor carney's comments, where he played down expectations we saw the 5-3 vote to keep rates on hold that was a surprise for many market participants i think carney down played that. and more recently said at some point we would expect to see rates rise again, it's a tricky job for the tral ba central bankers to give guidance around what they're doing without spooking the markets i think one rate rise is expected if the economy continues to be performing as well as it is, even with the bank of england it will be a slow process >> help us out what's the obvious trade i would think you don't want to go against the trend, so underweight any sort of government paper and overweight
credit is that the trade? >> i think you're spot on. particularly in eurozone, you know we're short duration, short bunds, short francs, in the uk pretty much neutral given where markets are. and we do like credit. so we think that will continue to perform well, particularly in rising rates environment last week, we saw that spreads tightened again as rates rose and more unhedged buying of u.s. credit in particular so we like good sources of credit that offer decent liquidity. in the msummer market it's good to have an eye on liquidity. and we like emerging markets if we can find decent carry we find that attractive >> thank you very much forever bringing us those ideas. marilyn watson from blackrock. heavy discounts on loans to consumers did not help u.s. car sales in june. phil lebeau has a breakdown of
the number. >> reporter: the signs of the season are out for dealerships, plenty for sale but not as many customers as dealers would like. sales last month were not trer t terribly impressive. but the average price paid for a new model, over $34,000, continues to tick slightly higher so consumers are still spending, especially on trucks and suvs. but automakers gradually have seen inventories rise as sales have eased as a result, some assembly lines are stopping production for longer than usual this summer. but not tesla. where the electric automaker's production of its new model 3 will start later this week with the first model 3s being delivered later this month it has an expected starting price of $35,000 the model 3 is targeted at the mass market and is critical to tesla taking the next step and becoming more than a niche automaker. if initial reviews of the model
3 are positive, don't be surprised if we see a surge in reservations which already stand at well over 300,000. >> a wave of erroneous market data appeared on several market sites in asian trade the prices for a number of nasdaq listed stocks were listed as $123.47 including amazon and microsoft. nasdaq says the problem happened because of test results wrongly distributed by third party finance sites. google said it is looking into what caused the error. yahoo! did not immediately respond. and still coming up, could talent be a company's scarcest resource we will speak to bain and company. we'll be back with more "street signs" in two.
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welcome back to the show french president emanuel macron says he aims to reform the government by reducing the number of mps and allowing more proportional representation in a speech he threatened a referendum if parliament does not approve the proposed changes within a year. let's get out to claire fornier covering the speech. this was a rare presidential address to partmen meparliament what was the reaction? >> it was a first for a newly elected p eed president to gathr nearly 1,000 mps and senators in versailles you had many reactions to this long speech resembled the american state of the union. it's not in the french tradition to have a newly elected president, you know, talk about
his vista for the next five years in front of the mps and senators but as you know, emanuel macron is inspired by others and wants to reestablish the presidential functions prestige what was the reaction of course the mps thought it was a philosophical with a lot of vista speech from their president. while the opposition said that it was much to do about nothing. and for a high cost considering that it cost about a half million euros to gather people in versailles. what emanuel macron wants is a steadier presidency there will be a third of the mps out of the national assembly if the law is voted and that would
make the national assembly more representative i have to tell you that all eyes today are on the prime minister, edward philip who is expected to give a lengthy speech as well at 3:00 p.m so 24 hours sharp after the president. and he will lay out the detail agenda of reforms. for example, the reform of the labor market, much expected in france also the state of emergency will be scrapped in the fall. well, what will be in the law against terrorism? that will be laid out also this afternoon. and edward phillip will have to explain how he plays with a bad financial situation in france. a hole left by the hollande mandate, 8 billion euros they'llexpenses. how does that interfere with their willingness to implement the reforms and lowering taxes that's what the prime minister will have to explain this afternoon. >> at the same time there's a
lot of criticism against mr. macron for taking the thunder away from the prime minister to what extent is france upset with the style that mr. macron has been advocating? explain to us what that really is >> yes it's been spreading in the french media, jupitarian style, that means macron wants to be the boss and restore the prestige of the presidential function aides around him say the french people want that they very much like the presidency of general de gaulle, and they want a president who is above all the petty considerations of political parties. they want a president who is a vis vista, so they say emanuel macron is filling this role fully. in the op something there is a bit of annoyance at this status
that emanuel is, you know, putting on stage it's interesting because in many ways it's different from what we were used to with nicolas sarkozy and francois hollande who had in mind to make the president more ordinary and closer to the people that's not what emanuel macron wants to do. >> thank you very much. angela merkel dropped the word friend to describe the united states in her campaign manifesto. this follows a haven't war s s words between the two countries. and edf share the sunk to the bottom of the stoxx 600 after the french utility raised cost estimates for the hinkley point power station. edf says the project could cost 1.5 billion pounds more than expected the increase means the pro
diktded rate dikt predicted rate of return on investment will fall 208.5%. fait may be a public holiday in the u.s. but there's no rest for republicans spearheading attempts to repeal and replace obamacare. >> reporter: the republican effort to overturn obama care will continue to be a key issue in the second half of the year the longer a replacement stalls, the greater the likelihood that nearly 9$900 billion in proposed cuts to the medicate safety net program will be watered down we saw that as publicly listed hospitals gained 32% as the
repeal timeline slipped. if congress does overturn some obamacare hospital payment cuts and follows the senate plan stabilization funding for states through 2020, analysts say that could be a near-term boost for players like community health, tenant health and hca. for health insurers, smaller medicate cuts would be a positive long-term, but near-term, for those who say they'll be on the obamacare individual market exchanges next year, three key issues remain. will congress reinstate the health insurance tax next year it's been on hiatus for a year will the trump administration enforce the individual mandate and try to coax more people to remain enrolled? and funding for subsidies to reduce out of pock kcket costs r lower income enrollees will that get renewed. if no answers are announced by the end of the summer we can see them pull off exchanges in
september. and then there's cigna after finally breaking its merger with anthem, the co has admitted he would like to pursue a deal noting that cigna has up to $14 billion in deployable capital. and the stock is at record highs. two years ago he tried to pursue humana, a leader in the medicare program for seniors but lost out to aetna investors will be watching to see if cigna will try again to land that deal that got away bertha coombs, new york. time actually is money says new research by bain and the economist intelligence unit. their study found that the top cartel of managers are 40% more productive than the rest and that their profit margins are 30% to 50% higher than industry averages joining me is michael mankins,
partner at bain & company. i have a copy of the book with me you have done a survey of more than 300 executives from large companies across many different nations. what did you find? >> we found that the best companies, as you indicated in the lead, are about 40% more productive than the rest, which means that those companies get as much done by 10:00 in the morning on thursday as their competitors and peers do all week those companies keep working they keep serving customers, keep innovating. over time, like a bond come pounds over time, that productivity advantage come points, and it produces this overwhelming source of competitive advantage for those companies. so the whole research is about how do you manage the scarce resources of time, talent and energy of your work force like you would financial capital with the same discipline and rigge rr
>> walk us through some of the steps. >> if you think about first we talk about organizational drag bureaucratic processes and procedures that waste time and we found that the most companies lose almost a quarter of their productive capacity to organizational drag. >> that means too many meetings? >> too many meetings, too many e-mails. those are the symptoms of a complex organization or a culture that simply fosters collaboration for collaboration sake so the best companies minimize that they try to reduce those bureaucratic procedures by not putting them in place to begin with or eliminating them but talent is the big difference between the best and the rest. and we thought when we were going into this that the best companies must just have better people that explains the difference in
productivity turns out not to be the case that if you compare averages to averages, the best have about the same amount of star talent as the rest. about 1 in employ7 employees isa star >> energy, how do you energize employees to be more productive? >> it turns out engagement, which has been the popular phrase for the last half decade has taken hold in most companies. that about a quarter of most companies work force are engaged. which means three quarters aren't the truly big difference in our research is that those employees that are truly inspired, inspired by leader, inspired by their mission of the company, and the team in which they work for are about 125% more productive than purely a satisfied employee what the companies do that want to unleash discretionary energy, they focus on building
inspirational leaders, rewarding those leaders that are inspirational, and, in fact, weeding out over time those leaders that are incapable of generating inspiration for their teams. you mentioned companies that have done it right, ab imb bshb, linkedin, airbnb, google, others that are mainly u.s. companies what do we do wrong in europe? >> i would say nothing per se that you have done differently in europe. ab inbev is basically a global company. most of these companies are global if there is a difference between companies, it's actually not geographic it's size. and age. we found in research that young companies, about the only variable we could find that explained productivity between the best and the rest, given that the sample is global.
>> all right michael, thank you very much for that we'll have to wrap it up here. michael mankins partner at bain & company >> check out world markets live, our blog which runs throughout the european trading day we'll be back after this you totanobody's hurt, new car. but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance. this this this is my body of proof. proof of less joint pain and clearer skin. this is my body of proof that i can take on psoriatic
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. hello. welcome back to "street signs. i'm carolin roth, these are your headlines. european stock markets are lower, but m&a boosts a few individual names among them germany's stada after the generic drugmaker says it could get a renewed bid from private equity players bain capital and cinven argos delivers for sainsbury's as the uk retailer reports like for like sales ahead of forecasts, while cost cutting improves its bottom line north korea defies warnings from global leaders ahead of the g20 summit firing a ballistic missile into japanese waters and saying it has the capability to strike anywhere in the world i'm just looking at some data in the form of the uk construction pmi that came in at 54.8 versus a may print of 56. slightly lower than the
forecast, which was looking for a print of 55. so not a huge miss here. we're seeing very little reaction in sterling, dollar and cable at this point. changing hands at 1.2930 we're waiting for services pmi as that makes up roughly 80% of gdp here -ye we're seeing the prod based u.s. dollar bounce back on the back of better data in form of manufacturing ism. that sent the two-year treasury yield above 1.40 for the first time in eight years. when it comes to u.s. equity markets this is the picture. ftse 100 off by 0.2% the dax off by a similar percentage the cac 40 also showing weakness looking at some news coming from the bank of england. what we're seeing is that the bank of england orders lenders to show they're protected
against consumer credit risks. let me give you more commentary. the bank of england is requesting evidence from consumer credit providers they are properly protected against losses companies are the first line of defense against risks of consumer credit losses let's talk more about retail and i want to talk more about the pressure that is currently being faced by the retail sector in the u.s. and europe that's according ing ting to o guest, beth pickens, managing director at william blair. what are the differences when it comes to the public or, you know, private activity by some of the retailers, uk versus u.s. >> sure. good morning the first difference is the ability to simply get out the door so we've seen terrific emergence in new growth companies in the uk and u.s. over the last decade as the consumer and retail sector that been largely disrupted. the difference is what has been the outcome and the end of the
road large exit at the end of the growth trajectory or to market the next phase of expansion. so given that today's theme is independence, we'll compare u.s. to uk and say that first of all what is the difference and why do we care we care because the group of public companies we had to reference in the consumer retail sector in the u.s. is by some extent considered outdated so they may use concepts like same-store sales, or foot fall to measure success as a result they're having declining comps quarter over quarter. looking in the uk we look to newer emrnerging businesses, publicly traded business that can look at unique visits, dwell times, so we may see more leadership coming from independent uk public company answer that we do see from the u.s. now in a pure play basis. >> is it easier to list in the uk because the requirements are simply much lower when it comes to market cap?
>> that's right. so the prevail iing answer that been the consumer retail business going public the last three years is 850 million u.s. dollars. that same average last year in the uk is 250 million. that means that you can go public here in the uk when you reach scale, and that the requirements for that scale are of a different level in the united states. they might be impacted by other factors, percent of control retained by a founder or it's owned or backed by vc versus private equity >> why would anyone want to go public at this point given that the retail space is so tough especially when it comes to competition. in the u.s. you see some retailers looking at going private, like nordstrom. again, what's the allure of the public markets now >> this underscores the problem. so the business that we have public are not the businesses we're looking to now by in large for the new leadership, the new economy leadership so why do we care? in 2007 we sat here -- 2017 we
sat here and the capital market window opened for consumers and capital businesses, yes, it's open, valuations are good. they are equally good in private transactions as they are in public transactions. but the businesses we hoped would go public in the u.s., such as dollar shave club which was acquired by unilever, got required by strategics, so we have that dearth of measurable sector leadership that we can judge and learn from on a public basis. what does it mean for investing? if many of these companies are being acquired do we have to go with the big ones? do you want to invest into amazon if you want to i venvest into health conscious companies? >> who compliments amazon might be businesses like asos who has
natural personal care as offering, but the answer is that it forces you to look outside the traditional u.s. public sector into the international markets, be it the uk primarily, germany or asia, and it's forcing the continued theme of globalization on the consumer retail sector. >> how difficult is retail at this point in the uk from a consumer point of view give than we're squeezed by higher inflation, real wages are negative >> you're seeing that compounded by the change in wall let share not only do we have these issues impacting what we can spend we have reached theoretically the concept of peak stuff. so that if you're a retailer you're saying my stuff is now -- my stuff is now theoretically more expensive and my consumer's need set has changed the way they wish to spend money may be on experiences, ways they spend their time or how they architect who they are, be it the activities, sports they do, so you merchandise promotional
apparel for their lifestyle including food and entertainment and that drives people further away from standard discretionary goods. >> this experience economy trend, who is best placed to benefit from that? do you think retailers in the u.s. gotten away from that malls don't work well unless you have restaurants or cinemas in there. >> we talked about earned media value. the places that succeed are those who have a two weigh conversatico two-way conversation and they're in listening mode. consumers are telling them where to go. if you have that dynamic you have created an architecture where you can continue to evovr in evolve in a more open source manner, instead of supplying items that you're not sure have been requested the ability to be dynamic and t be in a two-way conversation
lead the day >> beth, thank you very much for that. global m&a in the first half of 2017 increased 8% in value despite there being fewer deals. gemma has more >> looking at this chart, we can see deal value jumped by 8%. the number of deals done fell by 12%, which means higher average deal size. one way that's reflected is in the number of mega deals deals above $10 billion. we saw 17 for the first six months of this year versus only 14 this time last year looking at where we saw the activity, europe surged. europe leaped over asia to become the second most popular region for m&a activity behind the united states. europe did so well on the back of perceived improved economic and political stability in the region largely helped by president macron's victory and the defeat of populism in the netherlands we saw the opposite effect in
the united states where a surge in political uncertainty and question marks over how much of its corporate reform program president trump will actually be able to deliver, saw m&a in the u.s. region fall down for the last six months. which sectors are doing well it was energy, mining and utilities that led the charge. we saw nearly 2$270 billion worh of activity for the sector during the first six months of this year, largely helped by oil and gas as it is picked up due to opec's efforts to stabilize the oil price. >> gemma, thank you very much for that come and join me around the desk some questions i have around this is the u.s. activity. that's been extremely slow in your notes you say the lowest since 2013 in the second quarter. how much of this is down to the uncertainty around policy coming from donald trump? how much is this down to the fact that prices are very high and cfos are wary of valuations. >> you picked up on the two key
points yes, equity market valuations are soaring and we're seeing competition between corporates and private equity firms corporate balance sheets have balanced high, but on the other hand, they have record amounts of capital and so much powder to deploy there was so much hype towards the end of last year with regards to tax reform, antitrust reform, we have not seen much of that delivered concerns are growing we hear from from bests around the set there are not that many legislative days remaining in the calendar the concern is if things don't get done this year, will they get done in future years >> equally, this pertains to the tightening of monetary policy in the u.s., that is underway, but we have the hints of this happening in the eeu, don't companies feel like they have to lock in lower rates before they
do rise? >> perhaps, i was having an interesting conversation with the head of m&a at panmere gordon who said he is worried about the cash value, companies that want to make share purchases, a lot of them have high share prices, it's a strong acquisition currency he's more concerned about the consumer more generally looking at how high consumer credit is and whether that will prompt some sort of slowdown in deal making activity. >> gemma, thank you very much for bringing us those highlights north korea launched what it claimed to be its first successful intercontinental ballistic missile tuesday morning days before the g20 summit in germany. >> reporter: the japanese government confirmed a missile was launched from north korea's western coast and flew for 40 minutes before landing in the sea of japan it was 200 nautical miles off of
japan's northeastern coast but no boats or planes were damaged. the missile is estimated to have flown at 900 kilometers and 2,500 meters, significantly higher than missiles tested in the past the higher altitude allows for longer range and shows how north korea missile technology is steadily advancing the launch following a meeting between the presidents of south korea and the u.s. and they agreed to closely cooperate and put maximum pressure on north korea to resolve the threat. japanese president abe said he will discuss the issue on the sidelines of the upcoming g20 summit and he saeded that the thr added that they will call for more pressure on pong congress north korea has been launching missiles with increased frequently over the past several weeks. a couple hours ago north korea announced it had successfully tested an intercontinental
ballistic missile boasting it could hit anywhere on earth. experts say the missile's duration of flight and altitude suggests it could indeed be an icbm that's all from the nikkei back to you. >> thank you very much for that. i want to have a quick look at the market reaction to that missile launch i want to show you one safe haif f haven, dollar/yen, the yen a touch higher against the dollar. we're seeing the better than expected u.s. manufacturing ism sending the u.s. treasury yield to above 1.40 for the first time in eight years. before we go to break, let's get out to tanya briier w ibreyt else to expect from "street signs. fwogood morning coming up on the show, on american independence day, we're talking all things american. after the break, i'll be talking
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♪ well, happy independence day to all our u.s. viewers. u.s. president trump is spending the fourth of july in new jersey gearing up for what could be his biggest foreign policy test yet. later this week he will be in hamburg for the g20 summit where he will meet world leaders including russian president, vladimir putin halle yie jackson has the lates. >> reporter: president trump not seen but heard today from his new jersey home, making calls and making waves with three international hot spots making headlines. in russia, europe, and north
korea. the president's first face-to-face meeting with vladimir putin set for the sidelines of the g20 summit this week now today new tough talk from the kremlin, a warning it's running out of patience with the diplomatic compounds the u.s. shut down as punishment for moscow's meddling in or election an open question as to whether and how president trump will bring that up in his talk with putin. the president is already laying ground work for conversations with france and germany. on the phone with their leaders today. chancellor angela merkel acknowledging those discussions won't be easy given u.s. positions on trade and climate and the president also calling japan and china this holiday weekend to focus on north korea. the u.s. signalling it will get tougher on pyongyang, strongly suggesting that beijing do the same but president trump today is weighing in on a different controversy on a little boy named charlie guard in london
who has a rare terminal disease. his parents want to take him to the u.s. for treatment. his doctors want to take the boy off life support >> he's still fighting over there, believe me. he's still fighting. >> president trump today tweeted the u.s. would be delighted to help charlie if possible. his most recent tweet coming after several others, too. including one featuring a cnn logo a fake fight generating real controversy and threatening to overshadow that critical overseas trip. >> with this president the attention he draws with his tweets, he can do certainly some damage with that, but he can do some great good in advancing u.s. interests on the foreign policy domain. >> happy independence day. there were certainly fireworks in u.s. manufacturing numbers. ism data showing a blockbuster jump soaring nearly 3 points to 57.8 within the data there were some signs of falling inflation pressure with price growth decelerating sharply hitting a seven-month low. sticking with the fourth of
july theme, celebrations of american culture are taking place across the world to this end major league baseball has set up a baseball experience in london's hyde park as it seeks to raise the sports profile in europe. tanya is joined by some special guests at a five guys restaurant in central london. tanya? >> reporter: yes, i am good morning thank you very much. happy independence day to all our american viewers what is more american than baseball and i'm joined now by baseball legend shawn green good morning to you. >> good morning to you >> and also charlie hill, managing director of the major league baseball here in europe hoping to make it more popular here is that right? >> absolutely. we've had huge success growing the sport in asia, latin america and it's time to focus on europe >> there's something called battlegrounds later on happening. you're taking part in this
what will happen who are you battling >> we're battling some cricket player, softball players and some great britain players there's three former major league players out here. myself and cliff floyd and carlos pena. a lot of home runs between the three of us. hopefully we can continue that tonight. >> you're a two-time all-star, legend back in the u.s., shawn how does it feel to be in the uk on independence day? >> it's great. it's the first time i've been out of north america for independence day this is different, at least i'm here at an american restaurant and going to be playing an american sport it's fun i've had a great time in london. it's a beautiful place >> charlie, how are you going to raise the profile? here in europe we have seen success with the nfl, with the nba, how will you do that with baseball why is now the right time do you feel i feel like events like today are important. we begin to take the sport that we know and love from the u.s.
and make it appeal to a broad audience guys like shawn coming up, bringing our sport to a new audience in a new way, it's important to capture the imagination of an audience that's not initiateded to baseball events like today are important to us. >> how do you compete with the popularity of thenfl and nba here >> i don't think we have to worry too much about what those sports are doing we have a sport that has wonderful characteristics, values, a wonderful family support, great social experience lots of opportunities to connect to a new audience. i think today is a great example of all the great things that our sport has to offer and to show to the rest of london. >> shawn, will you explain the game now to your new fans here >> anything we have to do. we'll do a little demonstration. have a home run derby. there will be some fun targets, some great things that will be unique to the event. it's going to be a blast
there's going to be music, dancing, it's something that i think everyone, families and kids will enjoy. >> of course cricket is very popular here how will you get those cricket fans over to baseball? >> yeah. it's -- cricket, i watched some on tv while i was here it's fun to watch. it's a similar sport but also very, very different with baseball, everything is now so global. you get a chance to enjoy and experience so many different sports the more exposure that the people here get the more they'll love it. >> we have other famous americans coming over to europe, namely your president, president trump, will be here later in the week in hamburg. how do you feel about his visit here >> i'll be gone, so i'm kind of happy to be back in the states and miss that. >> as an american, shawn what are your views, the perception of america at this stage >> it's an interesting time.
we're americans, proud of our country, there's a lot of concern about some of the turmoil and the changing of the guard that's happened, but, you know, we'll -- there's been some changes here as well, and people just pull together and battle through and, you know, in our country it lasts for a few years, we'll see what happens after that >> sport is obviously unifying back home america is divided what do you think can be done to bring everyone together? >> it's hard to say. i think sometimes a regime that isn't really favored by most people, that in some ways can bring people together. we'll see what happens but you know, we have a few years of this regime, and hopefully some things positive will happen that will kind of get everyone on the same page. >> charlie, finally, what do you hope from today? what do you want the fans to take away from seeing shayne wnd
the rest of the legends? >> i think there will be an incredible opportunity for people to like shawn to go up against joss butler and hales, cricket stars. and we're promised some sunshine which will be helpful. >> are you looking forward to battling those cricket stars >> it's going to be fun. those guys are impressive. i know they had great careers and great success. it will be fun to meet those guys and see how they handle a bat. >> best of luck to you, shawn. thank you very much for joining us happy independence day >> thank you very much >> pleasure to be here >> back to you >> tanya thank you very much for that it's almost 10:00. i hope you get to have one of those delicious burgers at some point. new jersey governor chris christie caused a stir on social media after pictures on him on a closed beach surfaced on monday. the state shut down the beach but photos from the star ledger newspaper showed christie
soaking up sun with friends and family now on a completely different note, we have some breaking news flashes from reuters, this is on the stada story. shares have been rallying today on the back of reports of renewed takeover bid from bain and cinven reuters reporting that the supervisory board is discussing a possible replacement of the co and the supervisory board has an external candidate in mind to replace the co, and someone who would not oppose the takeover. "worldwide exchange" is coming up next. bye-bye. dearthere's no other way to say this. it's over. i've found a permanent escape from monotony. together, we are perfectly balanced. our senses awake. our hearts racing as one.
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