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tv   Street Signs  CNBC  October 23, 2017 4:00am-5:00am EDT

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>>. >> at a slightest you can get on the markets. >> the opening arc for 1.five. the election more about that in a moment we see companies reporting state side and in europe as well let's take a look at the markets
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one by one i the eye beks is performing off by 0.6%. the foots see off by 0.1%. interesting referendum news there. the cac 40 is eking out a modest win of 1.7%. now let's go back to our top stories. spanish banks are leading it spain has called on catalans to accept a move to accept the success net leaders. tens of thousands of demonstrators took to the streets of barcelona to protest the actions. speaking to the bbc foreign minister, madrid hoped to reinstate legal order in
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catalon catalonia. >> we are going to establish the authorities who are going to rule the day-to-day affairs of catalonia hoping, as i said, from the catalan laws and what we are trying to do is restore normalcy, to restore togetherness for the sake of all catalans with disregard and i hope everyone will disregard whatever instructions they will be planning to give because they will not have the legal authority to do that. >> meanwhile, catalan leaders rejected madrid's orders >> translator: spanish government with the support of the socialist party has undertaken the worst attack on
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the institution and people of catalonia. >> willem is in barcelona. give us a sense of the atmosphere in barcelona. we saw the huge protests over the weekend. did anything turn violent? anymore scuffles >> reporter: no violence at all, caroline you can see pretty much an ordinary business day behind me. what may not be an ordinary business day is in the spanish senate where we expect the committee will be looking at the proposed measures being put behind in rajoy's government the ending of the sacking of 13 members of the cabinet as well as his own
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in the short term a curbing of the powers and fresh elections in the next six months they will be passing those through on the full senate and expect to vote on that towards the end of the week. >> willem, is there any way that the catalan leader and pro independence parties can defy this to invoke article 155 there's a way to call for snap elections now before the executive order or before the direct control comes into effect is that possible at this point >> up until the moment where the spanish senate ratifies the members put together by rajoy, they can in theory call snap elections. that's something they said they would try to do. that would mean elections were
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54 days after that moment so we have two months in which dialogue can again continue. one of the concerns the rajoy government has is civil servants and peace officers won't obey any orders handed down from madr madrid they're saying the catalan government will listen to nobody other than the catalan people. they will be losing all credibility in the eyes of the world. here over the next few days we expect there will be further protests there's big decisions to be made in response to this, whether they will send out the orders to the civil servants, especially to the local police to defy orders from madrid it's up to rajoy whether he plans to replace those individuals. he's trying to get his ministries to take over the power here in catalonia. the economics ministry has that
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ability. >> thank you for that wrap up. let's get out to kevin geddis at raymond james. good to have you on the show this morning obviously rajoy went through with the nuclear option. i know spain is not necessarily your focal point but what does it mean for the eurozone there's plenty of focus. do you care about what's going on in spain? >> we do care. i think politics aside, the important things to the markets are the bond and stock market, especially maintaining debt service payment, not losing trajectory of the economy and not losing a credit rating, whether it's in spain or in italy in general so the conversation as it moves through the week will affect the way the bond and stock markets react. >> is there a position that you want to take in spanish paper or italian paper by extension is the periphery still an interesting play for you it's surrounding quite a bit
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people will come in and take profits. is now the time to maybe buy at the bottom again >> it could be we haven't seen a big selloff like you would expect. so with the equity markets down, the risk premium up on both italian and spanish bonds, there is a play there and that will be that differential between, say, what german rates are back down and the purchase would be against southern european zone but primarily it is a market that's hard to justify at 70 basis points lower than the american ten year. >> you're right. let's talk about the ecb they're meeting this thursday. the buzz is about the recalibration of the qe program. everyone's talking about whether it's going to be 20 billion for another 12 months or 30 billion for another nine months. you do the math at the end of the day it will come out at roughly the same and we'll see some degree of tapering. what do you expect from the ecb this week? >> i think there's a pretty
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well-known time line between what happens this week as an announcement of the intention and the u.s. has gone through this slightly before the ecb, then there will be an actual tapering probably from 60 to 30 sometime next year, then they will keep buying all the way towards the late fall. maybe at that point it's a full taper with a rate rise sometime in late 2018, early 2019 seems like the markets are accepting the terms in which this looks like the change for the ecb but, again, a lot of time will laps before we have an opportunity to know. >> what do you think the bond yields and the eurozone is stalling quite a bit in part because of the catalonia and the bond with hopes on tax reform. we see they have cut them last week they're still close behind levels since 2011. do you think the recalibration
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by the ecb is pretty much baked in the cake when it comes to the german yield curve but also the fx markets >> i think it is baked in. it's been very transparent in the way it's been presented so that the expectation is you will have a reduction you will continue to have a buy in program and then you have a full taper that is well into the marketplace. the key much like it is in the u.s., the hard one to measure is the actual inflation rate. you have some moderate growth and good growth. the inflation rate remains low that will determine the forward progress bond yields are going to go slightly higher based on the news >> all right kevin, do stick around we've got plenty more to talk about especially on the u.s. side kevin geddis, executive vice president at raymond james let's go back to our other top story this morning
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japanese prime minister shinzo abe has vowed to pass for the forward. the nikkei has hit a 21 year high as it grows for the record 15 years it looks like a landslide victory. it's not quite the ringing endorsement that he was hoping for, was it? >> reporter: no, you're exactly right. the nikkei is expecting more aggressive and monetary fiscal policies that we've seen from the abe government to continue the numbers that we got overnight and the result certainly puts shinzo abe in the driver's seat to secure the third term as prime minister which would make him the longest serving prime minister in japanese history as you pointed out, this wasn't a ringing endorsement of abe
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himself. voter turnout was among the lowest in post war history, 54%. a poll by nhk, more than half the japanese public said they don't support abe himself. it was a divided opposition that provided the lift for the ldp and the coalition partners the tokyo governors party of hope only took 49 seats to 312 for the ldp and coalition partners the constitutional democrats, they outgained them at 54 seats. this was an election that was framed as a referendum in abenomics as well as the prime minister's handling of the north korean threat. he will continue to press on with pressure on pyongyang also prime minister abe framed this election take talking about signaling and moving forward with the economic stimulus we're talking about a 2 trillion yen stimulus package that he had
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proposed prior to the election saying some of that money would be pushed towards expanding education as well as providing for child care one of the key focuses of this election was a 2% consumption tax hike scheduled to go into effect in 2019 prime minister abe has called for moving that forward saying he would use that for free education. that's raised a lot of questions about the fiscal health of japan. debt to gdp is 250%. there is the issue of constitutional reform. this is a long time focus of the prime minister he has a 2/3 majority in place in parliament. even with that, it would still have to be put to a public referendum the public is very divided on the issue of whether they want to move forward with that revision or not. >> understand. kiko, let me go back to the economics.
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you mentioned the 2% hike on the consumption tax in 2019. abe wants to shift this towards free education, high school education, but that will take away from his goal of balancing the budget how many detractors? how many critics is he facing on that front given that you mentioned the very high debt to gdp levels of 250% >> one of the issues in this election, balancing the budget, that element was never really raised in the debate we had prime minister abe on one side saying the 2% hike needed to go forward to provide for free education and child care. we had on the other side tokyo governor koike saying they needed to freeze the hike because it wasn't feasible right now. no question they will have to face the issue of a balanced budget the prime minister still maintains, we had a chance to speak to a special adviser today, he still maintains that the budget can be balanced by
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fiscal 2020 which was the original goal by the prime minister there's a lot of questions how they reach that if they divert the revenue from the consumption tax hike to provide for child care and education. >> seems ambitious at this point. kiko, thank you over in japan. so much for sanctions it may seem exports from china to north korea have risen 20% from january to september topping $2.5 billion meanwhile, imports from the rogue state into china fell 16.7% in the same period u.s. president donald trump called on china to increase pressure on pyongyang saying, quote, it has the power to do something very significant with respect to north korea all right. as always, do e-mail the show. the address is streetsignsour rot @cnbc.com. you can find us on twitter joompt we are going to go for a
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quick break. italy's two wealthiest regions, a vote for nonautonomy and a nonbinding referendum. we'll have plenty more on this coming up. for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember.
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welcome back to the show two of italy's wealthiest regions have overwhelmingly voted for more autonomy. the yes camp won with more than 90% of the votes with a turnout of 50% the referendum was supported by the northern league which has long argued for a better fiscal arrangement for the north. critics claim the polls were stunned to boost the party's chances. we're joined from milan. claudia, my question is is this all financially driven or is it ideologically driven is it all about tax receipts in the end? >> well, it's a little bit about getting this autonomy in terms of financials but also ideology
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is behind this as well remember, we do have the elections coming up in 2018 so the general elections certainly are going to heat up quite soon. this is seen by some of the opposition or some of the critics as having been a vote to boost the consensus for the northern league. remember that they're both headed up and they did get approval the important thing, of course, who went to vote was voting yes ultimately the important thing was the voter turnout. the voter turnout reached their objective. they get a thumbs up in terms of how they managed it. the opponents or the critics say it was a costly operation that was not necessary because these regions can actually negotiate with the central government in rome for more autonomy without having to go to a popular referendum the autonomy regards security,
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immigration, education, environment, taxes again, these are the richest they represent 30% of italian gdp and both are participating proportionately more than other regions to sustaining and helping out the southern regions. the northern league has been around as one of their objectives in working for more autonomy for the regions there's nothing new going on this does boost the strength of the negotiations when they do happen in january and february and, of course, you know, put focus on this party, the northern league, for the general elections when they do come up in 2018. nothing like what we saw in catalonia. that's been one of the big questions, is this about independence no, it's not it's about autonomy on more financial issues as well as ideological. back to you. >> claudia, thank you so much
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for that. wall street is waiting for president trump's decision on who will lead the fed. cnbc's latest survey looks at what they expect >> wall street is hoping president trump will pick jay powell to be the next fed chair. it wants the current fed chair, janet well en. president trump will nominate 45% say jay powell and others say john tailor. 13% said current fed chair, janet yell en. as o to who trump should nominate, 42% said yellen. two former leaders of the contest for fed chair, kevin warsh down 17% and gary cohn, the nec director down 2% and 15% on who should he nominate. what's it all mean for monetary policy and interest rates? on a scale of minus two to plus
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two, john taylor up above 1. seen as more hawkish followed by kevin warsh. cohn and powell seen as supporting the status quo. 8 of 9 categories yellen was the best for stocks, growth, best for managing the financial crisis and best for unemployment taylor was judged best for keeping inflation stable president trump has said he'll make his choice before he heads overseas november 3rd. steve liesman, cnbc news >> let's talk to the expert. kevin geddis is with us. the street wants a continuation of the status quo, janet yellen. will they get it >> i think so. i participated in steve's -- >> you did >> it's interesting as i see as it plays out most of the participants are in
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agreement, jay powell would be the likely choice. it's an interesting thing going on why do you need a hawk currently? you may need over time, but currently running the fed worried about inflation, that's about the last thing the u.s. is worried about. it appears that the president wants to take out anything that had to do with the former administration which is why janet yellen is falling a bit. she's done a terrific job. jay powell is more dove than he is anything. a continuation of similar policies and likely the best for both markets. >> could trump strike this balancing act of also trying to, you know, give in to some of the critics, to some of the republican hartliners by actually making taylor the vice chair? and in that sense you have the top which is dovish and hawkish at the same time do you think that would work >> anything is possible with the president, that's for sure it would when the time was right
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put a louder voice at a more active tightening when we do have inflation inflation continues to be the best story. >> where is inflation? the fed is desperately looking for it it can't be found at this point. every time we hear from janet yellen, she says it will come. if we believe hard enough, it will come. i'm not sure that it will ever come. >> the bond market is singing its own tune that inflation is a worry of others and not a reality of the markets. in some ways this has already happened i do believe if you get tax reform, tax reform would be something in the u.s. that could stimulate the economy which could cause prices to go up faster than anyone expects in this very transient view of inflation may actually happen. it may take the middle of next year or later for it to be
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reality. >> in the meantime when it comes to the trade and treasuries, you say embrace the current range. where does it top out, 2.4, 2.5% >> probably so real low volatile market right now. volatility is playing a big factor on keeping rates suppressed as well as the lack of inflation we do expect a rate increase symbolic in december which would take it closer to the 240 level, maybe 245. pretty well baked in it depends on economic growth. mostly depends on what washington gets done you can see at 275 ten year by march of next year it depends which initiatives become law. >> the trump tax plan, do you think it will be in law before the end of the year? >> not likely before the end of the year there's still debate over who
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gets the tax cuts and why. >> kevin dw eddis, executive vice president at raymond james n. this week's trader poll we're asking you, tell us who you think president trump should pick to lead the federal reserve, janet yellen, jerome powell, john taylor or someone else trump could do it himself. that would be interesting, too cast your vote or have your say on twitter #traderpoll. ley rebe back with pntmo "street signs" after the short break. whuuuuuat? you never just get one offer. go to lendingtree.com and shop multiple loan offers for free! free? yeah. could save thousands. you should probably buy me dinner. no. go to lendingtree.com for a new home loan or refinance. receive up to five free offers and choose the loan that's right for you. our average customer could lower their monthly bills by over three hundred dollars. go to lendingtree.com right now.
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hello and welcome to "street signs. i'm carolyn ross and these are your headlines the ibex once again under perfect forms as madrid calls for calm protests are sparked in barcelona and the spanish capital. japanese prime minister shinzo abe wins a super majority after his election victory sending the yen lower and the nikkei to a two decade high. strong growth in china helps
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grow sales at philips. u.s. health care policy could complicate business going forward. >> the uncertainty around accountable care act does concern our customers, but it also makes them very focused on driving better patient outcomes and higher productivity. let's have a quick look at european markets this morning. we are trading sideways though we have improved over the last 20 minutes the xetra dax is up and the ftse 100 in the u.k. is up. the ibex is off by 38 points or half of 1% this is a very heavy handed approach by central spain invoking article 155 and steps will become a lot clearer as the week goes by when it comes to the fx markets,
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this is the picture as we're seeing the euro dollar off 0.35%. this is a huge week for the euro going into the meeting on thursday we're waiting for the calibration of the qe program. the dollar yen was above the 114 level. it is up by 0.3% this is after aebbe residentials resounding victory have a look at the new zealand dollar against the u.s it is flat now after a couple of days of decline after the uncertainty on the local politics front when it comes to u.s. futures, this is the picture. we're looking quite green, quite positive dow jones up by 3% nasdaq up 3 points this is after we saw the s&p ending with a 0.9% gain. the dow was up 0.2% last week. all week it will be all about
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earnings we have 190 s&p companies reporting this week among them tech giants like alphabet, microsoft and amazon let's stay in the u.s. president trump says he is hopeful a tax overhaul will pass congress by the end of the year. speaking to fox trump predicted, quote, the biggest tax cuts ever in the history of this country the comments come after the u.s. senate voted to approve a budget blueprint clearing a key hurdle for revisions to the tax code. nbc's tracie potts is in washington it seems there are very few obstacles for that tax reform in place right now. >> reporter: well, one of the biggest obstacles was the budget which as you noted was cleared by the senate last week. they left a $1.5 billion opportunity for tax cuts the house still has to pass that budget, so that's priority number one and then down to the details who pays what? what are the rates what are the categories? some of the fill in the blanks that we have yet to see on the
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senate side or the house side here president trump says this is a priority he wants to get it done not by the end of the year but he now says he wants a bill on his desk by thanksgiving, in just a few weeks. republican leaders responsible for trying to get that done. they say that their goals are big tax cuts that the president has talked about and also preventing jobs from going over seas that's something where democrats, at least some, have said they may be willing to support this if they are able to keep those jobs here in the united states. republicans are looking for growth democrats are looking for a real break for working families, for the middle class and we haven't seen enough details yet to know if that's actually going to happen this week the president's already been on the phone with republicans over the weekend talking about this he will be here on capitol hill for a strategy session zblom tracie, thank you so much. tracie potts from washington. u.s. secretary says rex
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tillerson has told them to pack up and leave speaking at a rare meeting between iraqi and saudi leaders in riyadh, tillerson has been warning them >> we do seek to support as does the kingdom of saudi arabia and whole iraq iraq is secure and stable as ha and has the ability to stand on its own. certainly iranian militias that are in iraq now that the fight against dash and isis are done, they need to go home allow the iraqi people to regain control of areas that had been overtaken by isis and daesh. allow them to rebuild their lives with the help of their neighbors.
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>> saudi aramco is going to set up a new construction company to build nonoil infrastructures we will be hearing from the coo of saudi a ram ko amin nasser. plus, saudi arabian prince alwaleed bin talal will be on "squawk box. en plus has set the price range for the ipo between 14 and $17 for its listing in london and moscow that will value them between 7 and $8.5 billion china's new home prices cooled in september. they're holding. average new home prizes rose 0.2% the same as in august when they rose at the slowest pace in seven months
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china has experienced a two-year boom in the housing market sparking fears of a bubble once again. the they are reporting that there will be a new prime minister >> it is day six of the chinese communist party's 19th congress. tomorrow will be the closing ceremony, the day after, wednesday. the press conference when the seven men will stride on stage and we will know who is going to be leading china, this massive country, 1.4 billion people for at least the next five years this is important why? because it's an indication of whether or not xi jinping is going to be able to consolidate even more power, whether or not he's going to be able to stack the politburo committee. what do we know? the morning post, which is owned
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by alibaba and jack ma, is usually pretty clued in. their latest take is of the seven, two are a lock. xi jinping is one of them, obviously. and then there's one other name. li john -- zhanshu is xi jinping's right hand man this is his bff. then han zheng is considered obligatory because of the standing with the commercial and financial center it's almost a foregone conclusion that someone from the party boss will be in that seven man politburo standing
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committee. following that, zhao leji. we talked about him before a relative spring chicken. he's only 60 years old he's set to take over as the anticorruption czar. he will become the second most powerful man in china. then we get to the economic reformer, wang yang. why do we call him that? he was the reformer before and then finally is the wang huning he writes speeches for xi jinping and was key in forming the political philosophy and thought. there we have it a reformer, a hatchett man, the shanghai party boss as well as xi jinping's best friend -- one
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of his best friends, excuse me watch that out that will be heated and we'll see whether or not xi jinping can consolidate more power and become most effectively the most powerful leader china has had in 40 years cnbc, beijing. let's get back to earnings news here in europe. philips shared k3w price rise. philips ceo said the country was performing well in china. >> there is a clear vision of expansion of the care capacity we know that in the chinese population the incidents around copd, lung disease as well as cancer and heart disease are on the rise
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diabetes is on the rise. the country needs more health care we see strong growth possible. we also see private health care coming up. the largest diagnostics chain in china has signed a contract with us to deliver diagnostic information and health informatics around diagnosing patients first time right. so we have confidence that this market will continue to grow for zblus and tesla says it is in talks with the shanghai government china does not typically allow them to take their items tesla has to pay a 25% duty. production costs in china would probably be a lot lower for u.s. car maker. e-mail the show and as always think about us on twitter. tweet me directly @carolinecnbc.
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we are going for a quick break once again. coming up on the show, we cross live to abu dhabi. we'll point out about the diversification drive across the middle east. we'll be back in two [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.
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the u.k.'s five biggest business lobby groups have been together to call on the british government to secure a transitional brexit deal as a matter of urgency. they warn that failure to do so would hurt domestic investment and would put british jobs at risk speaking to cnbc gibraltar's minister says they could have sovereignty claims over the british territory. >> the morning after the referendum, a moment to pause and realize we've been talking about referendums since 8:30 we saw the morning after the brexit referendum that then foreign minister of spain say
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that he was going to use this brexit moment to try and advance spain's sovereignty change there's been a change of foreign minister in spain. more sensitive to understanding the issues the united kingdom, europe and spain face together and that gibraltar should not be used as an attempt to use that whilst they are moving forward they're going to keep a cynical eye to make sure nothing happ s happens. >> the negotiations not going very well, are they? are you concerned at all that gibraltar somehow may be pulled into the discussions as they look for something >> i think you judge a negotiation at the end, not in the middle i've been involved in many
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negotiations in my time where we have a very good result at the end of a very difficult period of negotiation if you were to analyze one period of negotiation and judge the result by where you are in the middle of the process, you might realize that in most instances you would not have predicted a very positive conclusion that worked for all sides. i'm an eternal optimist. i certainly hope that the prime minister's work takes us in the right direction. >> those in gibraltar will be hoping for the softest brexit given that 96% remain in the eu? >> we still believe in the european project in gibraltar. we don't want be to turn our back on the euro if that means soft brexit, we don't know what these terms mean, then we want to see a soft brexit if by a soft brexit we mean you're making the united kingdom
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go through death of a thousand cuts which is the bad aspects that is not able to assert itself as a new trading player around the world, let's hope that we don't find ourselves in that situation this is a very complex situation. united kingdom needs access to the services and in goods. achieving them i think is not going to be easy. >> let's change gears. bitcoin has hit another record high breaking through $6,000 mark the latest leg higher is being attributed to another split in bitcoin. it will be called bitcoin gold jordan belfor who was depicted in the wolf of wall street has criticized the crypto currency craze calling it the, quote, biggest scam ever. block chain, the technology which under pins the crypto
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currency, it under pins the conference in abu dhabi. >> crypto coin is a hugetopic here the regulator in abu dhabi has new regulations around crypto currencies this is the new way for startups to raise money of course, crypto coins, bitcoin in particular, has taken heavy criticism especially from the likes of jamie dimon he said people who invest in bitcoin are stupid now i caught up with fad fadi contour he said jamie dimon shouldn't be talking about something he doesn't understand >> people could get hurt, but also people are secure and make their own decisions. if you want to be part of a bubble, you are part of a bubble you understand the risk. when silicon valley was bubbling
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in the late 19, early 2000s nobody questioned the issue of embracing the internet as a platform for transactions in the world. 15 years later, yes, there was a a -- the market crash. it came out in a different form. in mobile transactions so this is too early for us to judge. we just need to embrace it. >> when you look another part of this ecosystem, it's really rizzs enin the last few months, is that a worry to you not only in terms of the amount being raised but also as an investor, does that block you out of potential deals in the future in perhaps crypto currency and crypto startups? >> possibly. i'm worried the way we conduct our own business is being disrupted. i see this is something to learn about as we see how you can embrace it so that you are becoming part of it rather than
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thinking that it is something that is going to disrupt us. so we are already anything about these things very, very, very difficult so if your point of view that everything is disruptable and you plan your businesses on that basis, then you need to embrace all of your technology >> ico's space, you're looking at how you get involved from an investment perspective, whether you get involved or you look at that as a way you can fund a company? >> both. both i was very encouraged today to hear the head of the adg talking about ipos a regulator talking about that and that's extremely encouraging. i think that's visionary and forward thinking >> reporter: i think one of the
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take aways here is that this is an extremely young market for many they don't really understand the impact we spoke to the saudi arabian regulatory authority this morning and they were saying bitcoin is not something we can regulate yet it's not mature enough what was interesting to see is they would see if they would take a look at the crypto currency that's a shift this is an exciting space, a rapidly developing space there are constant developments daily. caroline, back to you in the studio. >> it does sound pretty exciting it's probably too hot to handle for many of the big institutional companies to handle out there because they're saying it's too volatile too lightly regulated, it simply isn't transparent enough will bitcoin or other crypto currencies ever go mainstream do
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you think? >> reporter: what we're seeing is institutional investments starting to look at this seriously. we saw reports goldman sachs might be looking into a method to buy into crypto currencies. they're looking at this saying, hey, is this something we need to invest in is this something we need to look at? that institutional money isn't there yet but it's getting interested if regulation comes into play, it gives investors a lot more protection now we've seen some crashes on certain bitcoin. so it seems like a wild west, of course, for many traditional investors. you have more piling into the space, seeing the massive price prized and getting into the fed with some of the other rifle currencies as well as ee theer yum. >> where you are in the middle
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east, how much appetite is there given there's so much uncertainty, lack of clarity about future regulation, about crypto currencies, bitcoins in particular yes, they don't want to be caught out by this trinld obviously. everyone is trying to pour their best efforts into this new concept. how much investment happens in the middle east around this? >> at the moment, i mean, the middle east makes up a very, very tiny portion of the bitcoin market at the moment dominated by the likes of the u.s. and in particular japan actually. there is interest of course on the underlying technology behind all of these crypto coins, block chain. there are a lot of block chain companies launching products there is even one trying to launch almost like a stock market based on block chain technology companies can list an issue equity via block chain which is seen as more transparent there is fsi here from the big banks that are here and many of
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the startups hers here are looking at chain technology. many governments, many banks, many financial institutions. that's something that these institutions see a lot of potential in rather than crypto currencies. sticking with tech news, hellofresh has set the ipo price at 9 to 11.5 shares. the delivery firm says 31 million new shares will be issued hellofresh is set to debut in frankfurt on november 2nd it's a volatile time given amazon's adventure of acquiring whole foods. xetra dax is now up by 1/3 of 1%.
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similar for the cac 40 the only laggard the ibex 35. off by 0.4% after the madrid government has invoked article 155 over the weekend to further steps will hopefully become more clear as the week progresses the banking stocks are take the brunt of the losses in madrid. your dollar is lower in the crucial week for the ecb $117.45. quick look at u.s. futures, looking a little bit more positive after we saw a successful week for traders if you were long last week. we will hear from the saudi aramco and saudi arabian prince alwaleed bin talal don't want to miss it. that's it for today's show see you tomorrow bye-bye. my friend susie cracks me up. but one laugh,
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the dow and s&p riding six-week winning streaks. u.s. equity futures point to more green at the open. global politics in europe. spain takes steps to seize control of catalonia's government japan's prime minister is promising changes to the constitution after a big win live reports from both regions straight ahead. plus a cnbc exclusive. inside look at saudi aramco including a rare look with the company's ceo as the oil giant gets ready to go public. monday, october 23rd, 2017 "worldwide exchange"s

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