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tv   Worldwide Exchange  CNBC  November 17, 2015 4:00am-5:01am EST

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good morning to you. this is worldwide exchange. >> these are your headlines from around the world. >> the united states and russia answer france's call to get behind the effort to destroy isis as u.s. secretary of state john kerry arrives in paris. >> we will find them and punish them. vladimir putin says moscow must ramp up air strikes in syria after confirming terrorists did bomb a passenger jet over egypt's sinai peninsula. >> tensions in the middle east
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mount. the energy sector leading higher in europe after a sharp rally in asia. >> vw pays the price for its emissions scandal as auto sales slip in october and the german auto maker losing market share to rivals bmw and diamler. >> u.s. secretary of state john kerry has just arrived at the palace in paris for a meeting with hollande. this after he called on the u.s. and russia to unite in the fight against the isis in syria. france has launched a second night of air strikes on the country in the wake of the paris terror attacks. addressing both houses of parliament he will also be meeting with barrack obama and vladimir putin to discuss a joint strategy. >> we all need a coming together of all of those that can really
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fight against this army of terrorists in the form of a large and unique coalition. that's what we're working on. it's in this spirit that i will meet with president obama and president putin in the coming days to unite our forces and reach a result which has been put off for too long. >> russia has also confirmed that a bomb did down a russian aircraft over egypt last month. vladimir putin says moscow should intensify strikes in syria to punish those responsible. he added the incident was one of the quote, bloodiest crimes. let's get out to hadley uncovering the events for us. what's the sentiment like now a couple of days after the attacks? >> good morning, so essentially what we heard over the last 24 hours from the prime minister of france he said it's going to take a lot of time and money to secure the country but that's what they're going to do. he reiterated many of the
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comments we heard yesterday saying they're going to open up 1,000 jobs for policemen in this country. they're going to find out where the guns are coming from and find changes to the treaty if that's possible and they're also of course going to talk about what they have to do here at home to make the country more secure. now i'm joined now by socialist mp. i want to ask you about what we heard over the last few hours. certainly from the prime minister that says it's going to take a lot of money to make this country secure. but you're behind hill, aren't? >> since we arrive in 2012 we increase strongly the number of policemen in france. the number of ways to tackle and to fight against terrorism. yesterday, frthe president
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announced we would increase by 10,000 the number of police here in france. it's a strong increase but it is feasible. when we look at the cost it will represent it's between 500 and 1 billion euros so it is feasible for france and i hope that europe will agree with this increase. >> talk to me what we're going to see unfolding over the coming days. hopefully there will be a vote in parliament to extend the powers in the coming months. do you think there will be more changes in the short-term and he will continue to have political and public support. >> yes. on thursday we're going to have a vote and we will increase from 12 days to three months. and i hope and i think that it will be voted. >> now there's a strong relationship between the united states secretary of state john kerry and his foreign counter
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part. he's always here and speaking french and talking tough on terror. what do you think will come out of this meeting today? >> first of all i would like to thank american people. we received strong messages from them and president obama and i'd like to just thank them. very nice and thankful. now we are -- today there are some discussion between john kerry and president hollande and i think we need to increase cooperation in syria. this is i think the basis to win this war that now that it's going to be run by france, by the united states and i hope by other states also. >> so this ramping up of air strikes is the answer. >> yes. this is the new step. there is a new step today. we need to go forward. >> in terms of what you're hoping for in terms of the intelligence gathering and intelligence sharing are we already on the footing to seeing more of that? >> i hope so.
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i hope so. we see that over the past two or three days because we have this emergency state it means that we have a kind of exceptional lows that are on going for 12 days. policemen discover strong. it was in the newspaper. discover some arms from a very strong arms and we need to increase that to fight against this terrorism in france. >> so the big question of course is this is a country where it's illegal to have firearms these guys were carrying. part of this is stopping this flow of weapons into this country. >> we need to stop. we need to stop this violence that are in paris. this is the key point to fight against terrorism. >> in terms of the last several months and the hundreds of thousands of migrants flooding into europe, do you think it was a mistake for countries like germany and countries like
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france to be so welcoming? >> we need to find a solution. we need to tackle what is happening in syria. if people migrate to europe it's because they want to leave syria. they want to leave a state of war. they want to leave the violence that is in syria. so we need to tackle the source of migration and source is the war in syria. >> speaking of the source of the problem, the prime minister will be meeting later today with president hollande and they'll be talk about intelligence and the fight against the islamic state and they'll be speaking about the financing of terror. is the west doing enough to put a stop to the financing of groups like the islamic state? >> france, for sure. but france cannot do it alone. we need to have an international coalition and this is why president hollande will request
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from the united nations to have it regarding syria. we need to fight all together. alone it will not be enough for sure. >> valerie rabault. member of parliament. back to you. >> meantime across the pond, steve has been assessing the paris attacks could impact the likelihood now of a federal rate hike in december. >> the gruesome attacks in paris called into question whether the federal reserve will follow through on the market's expectation of the rate hike in december. the uncertainties center on the question of how the governments respond militarily and how they react. if markets see it as a reason to exit risky assets like stocks and plow in assets like treasuries and buy the dollar it could give the fed pause. the strength of the dollar has been a major concern for fed
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officials. it pushes down prices for u.s. goods and hurts manufacturing. the federal market committee could see another leg up in the dollar as reason to pause. >> the dollar is a factor in the fed's decision making. if we saw a very sharp and abrupt move in the dollar that could give the fed pause. >> so far, there's been only muted stock currency and bond market reactions to the paris attack process vieding no reason to derail the december hike possibility. the economics could turn out to be more important than markets. they would be less inclined to hike and fear the knock on effects to the global and domestic economy. they have little lasting economic impacts. what would be most likely to detour the fed is large scale military action. but because of the optics and
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surrounding uncertainty the fed would be likely to delay a hike under those circumstances. >> looking at funds futures on friday it is a 70% future in december. monday came down to 63%. listening to steve in his reporting he says usually markets and economies recover after these tragic events. maybe we have been so accustomed to these terrorist attacks. for instance back in london, during the london bombings, consumer spending actually when up the month of those terrorist attacks. >> is that right? i didn't know that fact. but a agree with the sentiment of what you're saying exactly. we said it yesterday as well. very, very sadly we have become slightly used to this type of dra dreadful atrocity. 9/11 did have a temporary impact. but in that package i don't
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think it has an economic impact. not a lasting one. the only possibility is do we see extra easing than we might otherwise have seen in europe and does that have a knock on effect for the dollar? but we're already seeing some kind in europe in december and at the moment we're still expecting a hike in the face of that. i don't think this makes any difference to the fed at all. >> no, i would agree with you. but we saw yesterday, we saw the sell off. it really only lasted 20 minutes or so. 25 minutes, you know, the most. and then volumes very low. so i don't know if we can read too much into yesterday's trading reaction but we recovered so quickly and now we're back to the monetary policy and what we're seeing in the euro dollar this morning. lowest level since april. 10650 is the level we breached. >> but the 7 month low in the euro dollar that is completely based on the monetary policy
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differential we're seeing once again and expecting in december. it's not based on events over the weekend and as you say, in equity markets we have seen a rebound over asia overnight, europe today, so that safe haven trade off the back of the paris attacks did last for a little bit over the weekend in what was open in terms of u.s. dollar trades and a little bit in the bond market but euro dollar at the molt, that's based on monetary policy. lows in the bond market is based on monetary policy so i don't think there will be a major impact on policy anywhere around the world. >> they came in with a note saying they're looking at portfolio shifting because of paris attacks and they couldn't find anything. it's discussions on the showing chinese economy and monetary policy. >> that we have seen before. that's nothing new, right? we'll have to wait and see whether there's actually any follow on attacks. that's the big unknown out there. that could further dent the airline and travel stocks which
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did get pummeled yesterday. >> exactly. >> the one thing i would bring in is oil price which is have been resilient in the face of lots of geo political concerns over the last couple of years whether it's in the middle east or ukraine and russia and that seems to be the case though. we're still at low levels for prices. >> i was wondering what you mean by resilience. >> as in low oil prices in the face of geopolitical concerns. >> it hasn't gone up during that time. >> exactly. and the only thing that could change that would be a serious ground war once again. and that could disturb it more tiff cut than so far. and despite isis taking regions of iraq it hasn't lowered the oil output. i think oil prices will continue to be resilient in terms of remaining low. but possibly if we saw a major ground offensive that could change but otherwise as we all
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seem in agreement not much change in the fundamentals. >> one last point on oil prices, the net long positions for wti are the lowest in three months so no one is betting on that geopolitical risk premium. a 6.5 earthquake struck 14 kilometers off the west coast of greece according to the u.s. geological survey it had a depth of around 11 kilometers. greek media are attributing one death to the earthquake. >> still to come on worldwide exchange, volkswagen steering into the slow lane as the emissions scandal weighs on its sales but some of its brands are bucking the down trend. we'll break down the numbers for you right after this.
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welcome back. yesterday for asian and european markets was mixed to down and then wall street has rallied and that fed through overnight. a strong performance in most of the markets and australia up 2.3%. of course this unwinding some of that uncertainty has fed through to european trade as well as highly pronounced fashion.
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we started off only up about .5% and that strengthened to 1.5%. across the board significant gains for european trade. do bear in mind of course that last week was very negative for global equities with the s&p 500 down about 3.5%. the european markets down just shy of 3%. so this is a bounce back to last week's trade as well as the negativity on monday morning following the paris attacks. >> we got a couple of strong company earnings this morning. easy jet shares, well, they're not one of the strong ones today. they're losing altitude despite reporting results in line with guidance. the airline's plan to add more capacity may, quote, unnerve some in the market. they're ordering an additional 36 airbus jets after reporting an 18% jump in annual profit. >> we have shares in cable and wireless communications trading sharply higher today on
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confirmation that the company is being acquired by liberty global for $5.3 billion. liberty global lead by john malone is buying the company to bolster it's market share in the caribbean and also in latin america. >> now they expect to post higher margins next year as sales have grown strongly since the company reporting earnings. sales rose 7.7% in october and november compared with a 5.4% growth in the third quarter. take a look at the shares up 6.9%. one of the best performers in the stoxx 600. >> european car sales declining in october. vw's mass market brand was worst hit with an 11% drop off when it comes to monthly sales at the other end of the spectrum though po po porsche was a bright spot. >> they increased to 1.1 million
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vehicles in october marking the 26th month of consecutive growth but this was a decline from the near 10% rise in the previous month. joining us is nancy. what we're seeing is a car sales market. >> you mention there that porsche sales up about 13% and aldi up about 3%. it was negative sales fwroeth under the brand and no surprise when you look at the trade area. october was the first full month of sales since the diesel defeat device scandal broke. a lot of investors and consumers alike wonder what the impact will be on sales but it may be
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too early to tell and that's different than the certain defeat devices and still several questions to be answered when it comes to a fix to the diesel engines that were affected. they face a november 20th deadline to present a fix because the environmental regulators want to approve any proposals before they come into action. >> despite when certain parts of the scandal broke would it be fair to say for the most of october anyway in consumers minds this only applied to diesel vw's and now it's very clearly all of their vehicles and the likes of porsche may not have reacted yet in terms of the sales figures. >> sure. some announcement that some engines were impacted came early in november but there's some
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what of a lagged factor so they tend to lag news such as this impacting car sales but overall a big distinction when you look at how the luxury brands continue to get strength. daimler up 30% on the month but you're looking at howell suvs are doing as well. >> porsche out performed during the month. the upper end and higher end of the spectrum is in lasting and tough economic times and even during scandals like the emissions one. >> it's true. demand is strong and also when it comes to the mass market they have quite a bit of margin pressure and remember when the scandal first broke surrounding words about emissions you heard them saying let's not jump to any conclusions and have a whole
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move to creating tougher emissions scandals because that weighs on the mass market cars that already have it squeezed. >> the french auto makers and n non-vw auto makers is where it ends up. it's been embarrassing for the regulators. >> absolutely. the knee jerk reaction is to toughen up and propose new standards and say we're no longer going to let this slide. >> and if we talk about the other german auto makers, merkels and spokespersons for the government are keen to defend the made in germany injury. is that being tarred with the same brush? >> it's being defended. we talk about where german auto
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makers depend on sales there but given that diesels aren't as prevalent there hasn't been as much of an impact with the made in germany brand but in the u.s. that can be a very different story given that the volkswagen case started there. >> thank you for that. now we are waiting for u.s. secretary of state john kerry to speak in paris following his meeting with the french president hollande. we'll bring you that as and when he starts speaking. >> okay. still to come on the show, as france continues to mourn victims of the terror attacks we look at how paris and washington are stepping up the fight against those thought to be responsible. stay tuned. we'll be back in two.
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>> they felt it yesterday in the past weeks. we have taken out leaders. we have liberated significant communities and kmuncommunities syria. the free corners of the border of northern syria is now under control. we will be working with turkey to close the last portion. so there is a clear strategy in place and step by step i'm confident. so i thank you all and
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particularly again i'm confident that over the next days paris that knows how to rebound will do so and i look forward to being back here for the top 21 with president ball balm and then i will stay for even longer and i think that will be an important statement by the world that no one will interrupt the business of the global community. certainly not despicable cowardly acts of terror. thank you all very much. >> john kerry speaking there. he said it's important to step up the efforts to hit them at the core where they are planning these attacks. he said the level of cooperation between international communities could not be higher and they said they will feel pressure in the next few weeks. there is a clear strategy in place he said and paris which knows how to rebound will do so.
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that there john kerry speaking after his conversation with president hollande. let's remind you of the headlines. the united states and russia answer the call to get behind the effort to detroy isis as u.s. secretary of state john kerry arrives in paris. >> we'll find them and punish them. moscow must ramp up air strikes in syria after confirming terrorists did bomb a passenger jet over egypt's sinai peninsula. >> tensions in the middle east mount. the energy sector leading higher in europe after a sharp rally in asia. >> vw pays the price for its emission scandals after auto sales slip in the month of october. also losing market share to rivals bmw and daimler.
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we're expecting october cpi data. we're currently lower by 0.2%. 15173. there's talk this inflation print might be softer and that's weighing this morning and the number that we got is a negative print of 0.1% in line with expectations. that follows a flat print in the month of august and increase in the month of july and we're seeing the sterling dollar spike on the back of this actually. 151.87. a lot of people thought this number could be even worse. even lower. >> yeah. positive 0.1% and year on year down .1%. that slight increase off the back of it.
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also bear in mind that we have weakened cable against the dollar over the last few weeks. 155 has been where we were for most of the summer and we're already below 152. partly because of noises coming out of the fed than the u.k. we have been more dovish in the recent couple of meetings. >> and we had the weak wages data that put a lot of pressure on the pound. anyways, 15187 trimming losses after the data came out. now russia confirmed a bomb did down a russian aircraft over egypt last month. vladimir putin says moscow should punish those responsible. he added that the incident was one of t quote, bloodiest crimes. >> let's have a quick look at oil price which is are holding on to small gains today. 44.8 for brent. wti 41.74 but of course that range of 40 to 50 that we have seen in recent weeks and months we are toward the bottom of that range at the moment. the u.s. has intensified it's
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attacks on isis targeting the group's main source of funding, it's oil supply. american air strikes hit more than 100 oil trucks in eastern syria in one day. isis is believed to make $500 million a year from black market oil trades. speaking from the g-20 summit in turkey they say they're making progress with air strikes in syria and iraq and we'll listen to him next and then we'll be joined in teheran. >> more than 8,000 to date. we're taking out isil leaders, commanders, their killers. we have seen that when we have an effective partner on the ground, isil can and is pushed back. >> well, backed up by u.s. intelligence the french have been pounded targets in raqqah can which is the capital of isis
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and the french said that they have 12 planes that bombed 20 targets and destroyed all of their targets but air strikes are not enough to wipe them out in that region. they are needed with groups on the bound to make tangible in roads into isis and iraq and syria. while the french have also been bombing targets there the u.s. have also bombed over 100 isis fuel trucks over the last couple of days. now that's likely to really hurt isis significantly because fuel is the main commodity in isis's war chest which is essentially the lifeline of their economic operations. that's what funds all of their operations within syria, within iraq and abroad.
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they do have other money as far as the ransom money from hostages but nothing as much as the oil they steal and sell on the black market. as i said earlier a lot of analysts are saying that a coalition of troops are need there had with groups on the ground to make syria in roads there and it's not enough to be bombing them from the air because the targets aren't specific enough and they don't know if they're getting the people they need to get. back to you guys. >> thank you for that. we'll continue the discussion now with margaret gilmore. she's the senior associate fellow at the royal united services institute. thank you very much for joining us. just moments ago john kerry was speaking and said the level of cooperation internationally could not be higher and there's a clear strategy in place. do you agree with him? >> i do. i've never seen anything on this scale. it is unprecedented. i think paris has brought home
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to us that this isn't about individual countries. that the threat is global. that the terrorists can easily cross boarders. that they communicate on the internet which doesn't recognize any boarders and this has to be a united front. it's critical that the u.s., russia and countries find a common way because the more you divide up the coalition the easier it becomes from the enemy. that's why isis has flourished in the first place in syria because they have divided enemies. you have the free syria army fighting isis and fighting the regime and it's just a mess. >> so margaret, is it key that they find a common way politically and diplomatically? those are your words. that they need to find a common position on rather than militarily. >> they have to find a diplomatic and political way in order to agree what they do
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militarily because it is not useful to have russia and targets that aren't dealing with this big and increasing isis threat and really it's much better to deal with isis than to deal with everything else which is just not such a big deal so until they agree, what's happening with russia is i'm sure you know at the moment they're also getting rid of enemies of assad that may be lesser enemies that aren't part of the whole isis thing and what we've seen is confirmation that they have not only the ambition but the capability of taking this battle outside their traditional arena of the middle ea east. >> you're nodding your head. you know what i'm talking about. yeah t country has been harboring and training a lot of these attackers and future terrorists some say. what do we do about belgium?
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>> belgium in the last 12 months has realized there has been an issue but i have to admit i can remember two or three years ago talking to my contacts in various security out lets who were concerned about what was happening in belgium and concerned at the fact that there seem to be some. what we're seeing now. nobody believed it. they foiled 7 plots. we could have had seven pariss on the streets of london. they have been foiled in the last 12 months and among those there are allegations at the stage of attack planning in syria. but paris is the first proof of this attack planning. so they have begun to realize this but they certainly have a big problem.
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there are more extremists going to syria per capita, compared to the population, than any other european country. >> paint a picture for us as to what our future will look like when it comes to security when it comes to surveillance, is the change going to be as drastic as it was after 9/11? will we be living in a surveillance society from now on? >> it's on the change. this will be seen as a critical thing. europe has to look at its boarders because the gunmen set up a safe house in brussels. they were able to get into a car full of explosives and drive across the border with no stops and so a car full of explosives just crosses the border across europe. so president hollande is really striving to set up greater security but of course it's not within the eu rules. the european union rules so i
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think what we're going to see is much tougher borders around the edges of europe. but tougher and also i think there's going to have to be much more cooperation on knowing who is coming in and out of the country. the u.s. and u.k. are pretty good on this but a lot of other countries aren't. so the passenger list of people traveling in and out, that's important. there has to be restrictions on the movement of weapons through and into europe. at the moment, you know, weapons have been coming through former soviet union and war countries. we're going to see a racheting up and more surveillance and i think the public is open to that at the moment but also there's got to be -- what we have to address is this problem of open spaces and soft targets. real problems. >> margaret you mentioned the reported 7 attacks thwarted in
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the u.k. in recent months. do we have any sense of how close those attacks were to being successful and how likely an attack either elsewhere in europe again in france perhaps or for the first time in recent years in the u.k., how close and likely a threat that is? >> we have been on severe, which is our second highest threat level as a result of what's happening in syria. we actually went down a level after osama bin laden was killed and we went up again specifically because of syria and iraq. now that means an attack is highly likely. that's the level of security we have constantly and yet we were -- we managed to look after the olympic games. that was clearly an iconic target. any terrorist would have loved to have done anything then. we didn't manage it. we have a huge symbolic football match now. something that wouldn't have been such a big deal last week
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now today in london that has to be secured so we're very capable of dealing with that. >> thank you for joining us. much appreciated. margaret gilmore. >> the one match has been cancelled. that's the belgian against spain. >> that's right. cancelled on security grounds and of course the match between england and france tonight at wimbley is continuing. the british authorities -- it's secure but, you know, great respect to help with that game tonight. >> absolutely. now back to france. some of the terrorists involved in last week's attacks remain at large. bill filed this report. >> this is the man france believes was behind the massacres. this propaganda video is said to show him once jailed in belgium
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now believed to be in syria. what you can't see behind his vehicle is the bodies he's about to drag on ropes. he was close to at least two of the paris killers. police are still hunting for this suspected accomplice. salah. his brother believed to be one of the can i recalls and another brother questioned and released after police raided the family home in brussels. >> more attacks on france are being planned the french prime minister warned today which is why police raid more than 160 homes arresting two dozen suspects and seizing dozens of guns and a rocket launcher. the french president addressing lawmakers vowed to destroy isis ordering a french aircraft carrier closer to iraq and syria. a dozen french war planes hit
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isis overnight bombing it's strong hold of raqqah syria in the biggest french raid so far. in paris today, not the noise of war, but silence for the city's victims. millions remembering though they can't forget. praying too for the critically ill. dozens of victims remain critically ill clinging to life at this and other paris hospitals shot multiple times and say doctors utterly traumatized. one surgeon that served in afghanistan says he's never seen anything like it. >> worst than afghanistan. >> yes. >> it must have looked like war here. >> in fact it was a feeling of war. >> france's muslim leaders condemn the killings. they honored the dead today and sent a message to isis. >> whatever you do, no matter how long it takes, we will beat
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you. >> let's get back to the markets. the stoxx 600 is surging today at session highs. the europe 600 up by 2%, xetra dax also high. bouncing back nicely from the weakness in that specific market yesterday as a result of the sell specifically in the travel and leisure and luxury stocks responding to the terrorist attacks. now it may also be a bounce back from the lotsses we saw last week. in the currency markets the dollar index is trading close to a 7 month high. we're seeing euro dollar at 10665. so the focus is back. pound sterling gained strength throughout the session. this is on the back of the cpi number. higher than expected at 1.1%. at the commodities space big
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bounce back yesterday. wti crude up 2.5%. this morning a little quiter. just close to the flat line. >> we're going to take a breather here on worldwide exchange. still to come on the program, it's come around again. yes, it's the season for whale watching. no, not the -- well, they're all mammals i guess but not the ones that float in the water. but the billionaire investors that are dumping their stakes and one is doing it in goldman sachs and also find out who is consuming more of apple.
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>> welcome back. japan may be back in recession but profit margins are set to reach the highest levels since 2008. let's get all the details from the nikkei. >> yes, japanese companies pretax profits are expected to hit a record high for the current fiscal year. according today at a compiled by the nikkei of over 1500 listed firms the total of pretax profits for the year ending march next year is expected to grow 6.9%. about $275 billion which is its highest ever. the pretax profit margins today at 6.6% which is higher than
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what it was in 2007 before the financial crisis. the firm's strong performance is partly due to tail winds but some have also succeeded in raising product prices due to added value. fuji is one company that has enjoyed brisk sales in north america even after inducing incentives at dealerships raising the price of its products. it's pretax profit margin is forecast to reach 17%. aggressively sought out m&a to enlarge their revenue stream. showing the company's profit remain high for japanese firms in the 8% range but some say business restructuring has been slow compared to u.s. firms and they have to beef up their earnings power to stay
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profitable as concerns of luggish markets overseas grow. that's all from the nikkei. back to you. >> thank you for that. now responsible for foreign affairs she is speaking on eu defense policy following the paris attacks. let's listen in. >> this calls for aid and assistance bilaterally and the european union can facilitate this and coordinate this whenever and however it is useful and necessary. >> there we have the eu foreign affairs spokesperson. we missed most of the english address and we will bring you flashes from that speech later in the show. >> and well it's tile to go whale watching as promised as
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some of the biggest hedge fund managers and investors disclose their holdings at secilings and what stocks they have been filing and what stocks they have been selling. >> we're getting our latest quarterly look at what some of the biggest hedge fund managers in the world are actually holding for their portportfolio. it happens four times a year but it happens 45 days after the end of each quarter so the data is a little bit outdated however it does give some insight into what hedge fund managers are doing behind the scenes with their funds. first of all, let's start with a notable hedge fund manager. he has a very, very large position in apple and boosted his exposure to apple during the course of the third quarter to an interesting ad to his apple position there. he has also taken a new stake in gps giant gar minute so a new stake for him there. now notably he dissolved and got rid of his stake in karenal giant hertz as well as macy's
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and citizens financial here in the u. s. he also cut his stake in sunedison by 25%. so a cut in that here. this also comes on the heels of fellow hedge fund titan. he did liquidate his stake in the company. then there's john paulson taking new stakes in the drug giant perrigo and cit and boosting stake in teva pharmaceuticals and starwood hostings as well. a lot of these names prehaped involved in deals. he also decreased stakes in petroleum and computer sciences. and then there's leon cooperman taking a small new stake in retailer jcpenney as well as boosting his stake in facebook.
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so when we talk about this it's interesting here because dave einhorn, john paulson, all of these hedge fund managers have to disclose the data for their long holdings once every quarter but again the big caveat here is the data is about 45 days old. it does mean some of the hedge fund managers can and do trade around these positions even after they have been disclosed so we'll have to see for the next round of quarterly filings whether or not they made any changes to this past batch. back to you. >> and the biggest of them all, berkshire hathaway. buying up more of big blue. but he also cut his goldman sachs by 7%. they're looking back at his rescue in 2008. providing liquidity for goldman but that's done. cutting walmart by 7%.
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reporting later on today. >> but he's doing that in part to fund a purchase. he's buying another company. so it's not really a verdict on how he feels about goldman or how he feels about walmart but i think that the one that you mentioned before, that's interesting because the stock has actually fallen 28% since he has taken that stake back in 2011 and he has never made a technology bet before. this is his only real technology bet. he always talks about i only invest in companies that i understand but he likes the if i recall because of its financial management and share buy backs. >> i agree. i think more to the buffet sale of goldman sacks. but let's move on and selling stakes in gold mines which is interesting given the global uncertainty and gold just really apart from a fraction hasn't reacted to the weekend's event. new stake in netflix which is interesting because we had all the ups and downs of netflix. you miss the initial surge.
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>> you don't think it's more interesting he's buying into wynn resorts? >> i found that interesting. >> that is an interesting one. i wonder if this is a bottom for wynn. they had a terrible run. >> las vegas has been terrible. macau has been terrible. >> have you been there a couple of times? >> yes. haven't you? >> i have been. i have been to vegas more times. i love vegas. macau is just so focused -- this is from a consumer's perspective. it's just gambling. there's no kind of vibe of you know restaurants and shows and night clubs. >> it is getting better but i think it's a social -- it's a social difference. e chinese gamblers and the rest of the world. >> do you think they should fund a special? and send me to do it? >> i think they should do it. >> that's a good idea. >> i'll do the las vegas side. i'm happy to do it. i don't mind the time
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difference. >> that's important. >> the last one i want to mention. icahn exiting ebay and opting for paypal. that's after the split off. he holds a 3.8% stake in paypal. >> let's talk about urban outfitters and third quarter profit margins improving as well but the retailer sales disappointed. same store sales of the parent of urban outfitters and anthropology rose 1%. analysts say that warm weather the past two months has been a problem hurting sales of their winter clothes such as coats and jackets. urban outfitters dropping 8% in after hours and in german trade more pronounced declines. 13.5% down. >> they're looking to build a rival to spotify and apple
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music. they're buying radio. pandora plans to launch an on demand streaming service with multitiered prescriptions. they also bought ticket fly and the exclusive rights to the popular podcast. up 1.2%. >> german regulators are investigating apple and amazon over the agreement to sell audio group. the probe was opened after they complained the companies are trying to create a monopoly. amazon is the exclusive provider of audio books to itunes in germany. lots more coming up here on worldwide exchange after this short break. you can't predict... the market. but at t. rowe price, we can help guide your investments through good times and bad. for over 75 years, our clients have relied on us to bring our best thinking to their investments so in a variety of market conditions...
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you can feel confident... our experience. call a t. rowe price retirement specialist or your advisor see how we can help make the most of your retirement savings. t. rowe price. invest with confidence.
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>> here are your headlines from around the world. >> we're working together. that's a message from john kerry as he meets french president hollande in paris and outlines a joint strategy to combat isis. >> over the course of the next week, they feel greater pressure. they feel it today and yesterday and in the past weeks. we gained more territory. >> brent crude clings on to


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