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tv   Street Signs  CNBC  May 9, 2018 4:00am-5:00am EDT

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the president all from withdrawal the u s from the iran nuclear deal and promises to restore economic sanctions disappointing allies in europe but sharing the leaders of israel and saudi arabia could try to spike sharply after their worst than a month pending
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oil stocks across europe higher in early trade network voed vodafone spends $18 millio to buy from liberty global. and siemens second quarter results beat expectations sending shares higher. higher good morning about one hour into the trading session. markets are still coming to terms out of the u.s. yesterday asian markets were mixed overnight. u.s. markets did end the day flattish the picture in europe for the broader composite is looking a bit up, up 0.2%. switching to european markets and getting into what individual indices are doing. the cac 40 is briefly in the red, but markets are looking
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better ftse 100 up 30 points. no real surprise there because it is a mining exposed index therefore somewhat inadvertent beneficiary of sanctions if they reoccur. we had a drop in ftse and italian assets yesterday you can see it's rebounding somewhat let's switch sectors and see where the leadership is coming from oil and gas is up 1.7%, with the rebound we see in oil prices oil is up 2% this morning. we'll get there in a second. basic resources dragged along for the ride, up more than 1%. on the down side, i want to draw your attention to travel and leisure, down 1.8% almost down 2% many of the airlines are getting hit, specifically airbus in europe boeing as well in the u.s. as market punish the airlines vis-a-vis some of their ability
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to travel and sell planes into iran in the future let's talk about oil and we are seeing some what of a rebound in the price of oil. it was volatile going into the decision it seems positioning was trumping somewhat as we headed into the decision. but once that decision did come out, we did see a spike in the price of oil seeing wti back through $70 again. almost 3% higher on the day. similar move for brent these take us back to almost four-year highs on a longer term i want to draw your attention to some interesting charts that came up. just waiting for that to come up so this is a chart i looked at from barclays. it shows you sensitivity of which countries would be the most susceptible to an oil price shock. as you can see from there, one of the most sensitive sectors will be the cpi in the u.s., of
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course we have cpi numbers coming out tomorrow. we also have european growth, which will be quite vulnerable if a 10% oil price shock were to hit. this is from barclays. i wanted to point that out we have u.s. cpi numbers coming. this number could be what some people are saying quite a high one on the back of some of these base effects let's look at some companies that have exposure to iraq no surprise there that all of these companies are trading in the red with the exception of the italian. the ftse mib trading higher today. suez down 9%, and airbus down 0.8% president trump has disappointed his european allies by withdrawing the united states from the iranian nuclear deal. he also vowed to reimpose economic sanctions in a potential blow to businesses who have invested in iran.
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speaking from the white house yesterday, trump justified his decisio decision >> the fact is this was a horrible, one-sided deal that should have never, ever been made it didn't bring calm it didn't bring peace. it never will. in the years since the deal was reached, iran's military budget has grown by almost 40%. while its economy is doing very badly. after the sanctions were lifted the dictatorship used its new founds to build nuclear capable missiles, support terrorism, and cause havoc throughout the middle east and beyond the agreement was so poorly negotiated that even if iran fully complies, the regime can still be on the verge of a nuclear breakout in just a short period of time
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>> iran has said the move is illegal, while it's parliament will vote on a motion calling for proportional and reciprocal response president prohahnny hrohani haso reach an agreement with those still involved >> i will carry out necessary coordination if after a short period of time we conclude that with five countries, we can achieve whatever the iranian nations want out of the deal, the nuclear deal will remain in place despite the efforts of the united states, and we can take steps to the benefit of the region and the world's peace and security >> joining us live from tehran
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is alli aruzzi. >> this morning hard liners are coming out celebrating they don't have a deal with america anymore. the army chief said the biggest damage caused by the nuclear deal came by sitting down with the united states around the negotiating table. the head of the revolutionary guard accused europe of not being independent enough and too dependent on america to make their decisions. so the future of the deal is clear, because europe will side with america but the most stinging rebuke came from the powerful head of iran's parliament who said trump is unfit to be president and doesn't have the mental capacity to deal with these issues. then members of parliament burnt an american flag and a symbolic copy of the iran nuclear deal as
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the session of parliament began, they also started chanting death to america this was purely for american consumpti consumption. a message from the heart of iran's parliament to the u.s. that they will never enter into dialogue with america again. immediately after trump's speech, hassan rohani accused america of embarking on psychological warfare. he said he would try to keep this deal alive with his european partners, with the chinese and russians as long as iran sees benefits from the deal as long as iran is not frozen out of the global financial markets, he said this deal is still possible to go ahead without america's involvement. but i've got to tell you, initially this may work. he may be able to put a wedge between europe and america by saying that america has renegged on its strategy, but i don't
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think that's a long-term strategy when push comes to shove, europe will not divorce itself from america and back iran. no matter how much they want to get involved in the iranian market i remember when the deal was made in 2015, a lot of foreign investors were telling me this is the last of the frontier markets. >> question about the political stability within iran, you were talking about lawmakers burning flags. i wonder whether or not this is undermining rohani's overall position will we see demonstrations what is going to be the reaction on the ground. >> it's certainly going to weaken rouhani there's going to be a lot of criticism from ordinary iranians that even rouhani made a bad deal there were no benefits from deal it's quite the opposite. the situation has become much worse since the deal the economy here is in really bad shape. the iranian real keeps losing
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value against the dollar, and rouhani is getting blamed for this people say you made a bad deal with the states. you have not been able to deliver on social issues, and more importantly on financial iss issues so i think we'll see a weakening moderate government of rouhani and more hard line elemeline elf government now pulling the shots. they'll say we gave you a shot with america, the results have been disastrous, now we'll call the shots. it's going to be a push back for the moderates here, and a renewed strength for hard-liners in iran. >> thank you for that. france, britain and germany have released a statement. they expressed regret and concern at trump's move. the three countries reaffirmed
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their commitment to the existing deal and urged all sides to preserve it. speaking in italy, the european union's foreign policy chief sent this message to iran. >> do not let anyone dismantle this agreement it's one of the biggest achievements diplomacy has ever delivered. we've built this together. it is the demonstration that win-win solutions are possible through dialogue, engagement and perseverance that common ground can be found even when positions and interests differ that respect can be a universal language this deal belongs to each and every one of us. stay true to your commitments as we will stay true to ours. together, with the rest of the international community, we will preserve this nuclear deal >> we are joined by sir richard
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dalton, former british ambassador to iran i want to ask, when this deal was signed back in 2015, you wrote there was good reason it would stick as there was no viable, better agreement available. do you think there could be a viable, better agreement available as mr. trump suggested and as mr. macron seemed to hint at overnight >> neither macron or trump have suggested ends, objectives, strategy on how to achieve these better arrangements that they claim. macron is 100% behind the excellent firm statements both of the european union and of the three heads of government, macron, merkel and may i think it's time to point out there are so many lies and
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december po distortions in what mr. trump has announced that the jccpa was rotting and decaying, that iran has active nuclear ambitions, that iran will be less dangerous after the united states measures have been put in place. all this just underlines again the arrogance and hypocrisy of this united states administration and its willingness to build on its own prejudices against the evidence and i have to say against the views of its closest allies. it's a deeply disturbing picture that we now see. the chances of a -- the survival of the jcpoa whether in macron's form or as it is already are perhaps less than 50%. that makes the region, the
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world, and the united states more dangerous >> hindsight is 20/20. in that piece in 2015 you wrote a hypothetical republican candidate by 2017 would hesitate before scuttling a deal mr. trump talked about this for some time. every three months he had the opportunity to take the action he took last night why do you think it's taken him so long. >> i don't know. i believe that he always intended to stick to the deal. that the european attempt to provide a ladder for him to climb down was credible. but it has failed to achieve any headway against his determination that iran should stay in the sin bin forever, and that the united states should work to change iran's regime and should keep iran sanctioned to
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the maximum. i think he now has in place a vision, a totally distorted one, of how he can achieve those aims of course it's none of the united states business who rules in iran, and he's grossly exaggerating the impact of iran in the region. and minimizing the extremely damaging impact that the united states is having in the region, above all with its endorsement of the slaughter and weaponization of famine by saudi arabia and allies in yemen it's time to step back in the united states, to heed the advice of important figures from the past administration, so many military and political leaders, and bring the united states back to a path where it can cooperate with its european allies >> we've seen -- you mentioned
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there who is in power in iran. we've seen in a recent set of polls, president rouhani's appeal dropped from 89% to 59% during the period in which iranians are calling for those polling numbers, how concerned should people like macron, merkel, may, how concerned should they be about rouhani as a stable negotiating partner going forward do you think >> rouhani is the chief executive of the government. he is a stable negotiating partner, so long as the final decider of matters in iran, the supreme leader, ayatollah khamenei backs him he says the united states cannot be trusted that is going to encourage the hard-liners in iran, as we heard from your correspondent from
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tehran however he rolled back iranian red lines significantly in the negotiating and authorized deep concessions from iran's opening positions. he is able to see the dangers that a conflict with the united states, which is distinctly possible in current circumstances, that the dangers of such a conflict might pose. he has no alternatives or foreign relations team with anything like rouhani and zarif. so i think there's a good chance he will stick with them. sir richard dalton, thank you very much. we'll have more on market reaction to the news after the break. hotel, car and activity all in one place. ♪
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you still have to visit us. i will. no. make that the password: "you_stillóhave_toóvisit_us." that's a good one. [ chuckles ] download the xfinity my account app and set a password you can easily remember. one more way comcast is working to fit into your life, not the other way around. ahold delhaize is trading lower. revenues at the retailer increased 2.5% the company said improvements at its u.s. operations boosted its
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performance and the bottom line grew 26% the company's ceo spoke to cnbc earlier this morning about ahold's performance in north america. >> the company is in great shape. we also announced this morning that the u.s., two-thirds of our business, stop and shop, but also our online business we grew in the total online space in the u.s., 9% during this quarter our total growth was announced at 2.5%. it is a tough market on the other hand, ahold-delhaize is well positioned with their brand. first quarter props at ab inbev were in line with expectations despite a decline in the u.s growth in latin america outweighed this drop the stock opened sharply higher as the brewer cited seasonal benefits like easter and the i
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chinese new year. and there's considerable upside for beer, despite people drinking more nonalcoholic bef ram beverages. the european president of hin d heineken joins us. we're happy you're with us, because london is experiencing nice, warm weather, many people are out and about drinking beers. >> fantastic to hear >> can you talk about some opportunities you see in european growth markets, particularly as it pertains to demographics here. it seems like people are moving towards healthier drinks, less alcoholic content. where do you see the opportunity there? >> we see two big trends at the moment across europe we have to be careful in saying there's one europe, because europe is made up of a lot of countries and a lot of
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communities, and there's big differences. the two big trends we're seeing is the first one and you referred to it around health and wellness there, as brewers, as beer producers, also as cider makers, we're extremely well positioned. we see low and no alcohol particularly growing at the moment very, very fast we're investing in that area we have a wide portfolio i don't know if you know, but we have launched quite some time ago -- actually fairly recently, last year, heineken's zero zero. this is a product with absolutely no alcohol. a fantastic product. i encourage you, of course, to try it i'm in italy at the moment in your milan studio. big occasion here for consumers is the lunch occasion. if i want to drink something
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with my lunch, i can drink water, sparkling water, i can drink something sweet or i can drink something hot. here is where heineken's zero zero or one of our other zero zero propositions can hit the spot for consumers it's also about new occasions, not only instead of beer when i don't want to drink alcohol. it's a big part of our never drink never drive approach, responsible drinking is always a matter that's at the highest priority of heineken the other trend we're seeing, and it's a bit of a different trend, but as people want to drink better and people want to try something different. in terms of drinking better, we're well positioned with our heineken brand, other premium brands, but drinking different is about exploring different tastes not just lager, and by the way
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lager is a fantastic, refreshing drink, but also ales, fruity beers, sour beers and so on. again, depends on occasion but here again we're very well positioned we have our international specialty brands, we have a fantastic indian pale ale. we have local brands in all of the markets in europe which are moving more and more in this direction to offer to consumers more variety an taste, more choice for different occasions >> i want to ask you a bit about competition in that space. it seems like more and more we're seeing local breweries pop up and people are going for more specialist types of beers as opposed to the traditional types of beers that people have historically drank in the past this goes in line with the
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changing taste of millennials, and the appetite to look for new types of drinks, things that are a bit more prevalent in social media as well. i wonder how you see the competition in that space. >> first thing to say is we welcome it anyone who loves beer, anyone who wants to talk about beer, and share that experience with consumers is fantastic news from our perspective. we've been trying to do that for the last 150 years so we welcome the craft brewers very much. they're introducing people to new and different beer styles. experimenting in different ways. we also are very, very active in that space we are collaborating with a number of craft brewers in italy, the uk, other markets the one thing we can do is the
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big brands, the brands that people trust, that are familiar to people, that they've known for a number of years, those brands can also introduce people po differe to different tastes, different variety, sometimes more accessible in price but that can work very well >> thank you i'm hoping we can brink in some nonalcoholic beers to the show - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again?
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today's action sends a critical meg the united states no longer makes empty threats. when i make promises, i keep them president trump withdraws the u.s. from the iranian nuclear deal and promises to restore sanctions. crude prices spike sharply after their worst day in a month sending oil stocks across europe higher in early trading. argentina turns to the imf
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for help requesting a financing deal to try to manage the wild swings in the peso. and a network giant in europe is born after vodafone spends $18 billion to buy european assets from john malone's liberty global. another wild session in equities let's look at how the picture is for u.s. futures in today's session, in line with what we're seeing in european markets, seems like dow and s&p will open up higher. i should tell you both did end the day around flat after much volatility and speculation into the announcement by president trump later in the session today it looks like thing also open up more positive. switching to european markets.
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the cac 40 is lagging this morning with some exposure on stock names to iran. that's weighing the index down you can see ftse mib is having a big rebound after yesterday's boun d down day in italian assets switching to fx, here there's the major theme again, one of dollar strength. dxy is at the highest levels for the year, actually up 1.4% for the year now all of that happened in the last ten days or so, clearly having an impact on all currency pairs. dollar/yen is almost at 110. cable at 1.3540. there is the bank of england meeting tomorrow president trump has pulled the united states out of the iranian nuclear deal and vowed to reimpose economic sanctions
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on tehran. iran called the move illegal and pledged to negotiate with the remaining signatories to keep the agreement intact speaking from the white house trump justified the decision >> america will not be held hostage to nuclear blackmail we will not allow american cities to be threatened with destruction, and we will not allow a regime that chants death to america to gain access to the most deadly weapons on earth >> hadley gamble is in bahrain the gulf governments will be happy about this announcement, but what could it mean for business on that side of the gulf >> what we've heard over the last 24 hours from the gulf arab leaders is support as you mentioned this may have implications for the economics i had the chance to catch up with the head of the economic
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development board for bar rahrai asked if this will stop people coming to the area for business. >> investors do a risk/reward analysis, they have always seen the reward 50 million population just in the gulf high per capita income massive investment infrastructure, that outweighs the conflicts they may see them in the region. we invite investors to see the kingdom of saudi arabia, they can make their own assessment. we're not new to conflict. >> when you look at what's happening more globally here, because you have a lot of interest in the gulf region from asia, for example, asian countries, particularly china, much less risk averse, what is the interest coming from asia? >> quite a lot there's interest to see how the one belt one road and how the middle east could play a road in that
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i think we've been -- the gulf region was part of the traditional silk road. we have to revisit how that's relevant to china going forward. we want to be able to talk to both chinese and traditional allies in the united states and in europe. so we do see a lot of interest in china the access to africa could be through the gulf region. we've seen tremendous interest from china >> we think greed will trump fear, that's the message from bahrain's economic development form when it comes to get nothing business in this part of the world. they are separated by saudi arabia by a short causeway where the oil infrastructure is, and then the persian gulf by iran. so they're in an interesting position as we move forward.
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else where, argentina is in talks with the imf with a credit line to avoid financial crisis the peso dropped more than 10% against the dollar over the past two weeks forcing the central bank to raise rates to 40% according to several reports, argentina is seeking $30 billio from the imf the talks come 17 years after the country defaulted on its debts. the argentine president said the imf loan would help the country prevent another financial crash. >> translator: i have decided to begin discussions with the international monetary fund so they grant us a line of financial aid, minutes ago i spoke to christine lagarde, she confirmed we will start working on an agreement. this will give us stronger support to face this new global scenario and avoid the type of
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crises we have suffered in our history. >> joining us is graham stock. good morning to you. mr. macri is trying to spin this as a positive development getting the imf involved for many it remainds them of 2001, the big default. it appears like the central bank has lost some control. they had to hike up to 40% the currency has devalued 15%. how do you read this is the imf getting involved here a good thing will it stem some negativity we're seeing around argentina now? >> it is a good thing. the central bank has faced challenges the macri administration has been seeing a gradual approach that granted access to external financing. with a stronger dollar, that is
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no longer assurassured. >> isn't it a fnk shunction of credit line they are getting they were hoping to get a flexible credit line, but many analysts are thinking that's unlikely >> macri and his team were not specific about what kind of credit line they were looking for. the terms don't seem suitable for argentina at the current time the important thing is the access to resources. availability and financing is the key. he'll pay a high political cost for this domestically. i think the fact they're turning to this and sticking with the same policy of fiscal adjustment and orthodox policies is a good step >> do you think the central bank will succeed at supporting the currency here? >> this provides help. they still have fairly significant levels of reserves that they can deploy
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it's expensive to debt against the peso at these levels >> when you look at the pairing with the peso what are you seeing in the next few months? >> i think stability is the goal that's realistic a lot depends on the external environment. if we see further dollar strength that will put them under pressure, but with this in the toolbox, stability is a reasonable aim wlafrnl >> up until now we have seen multiple hikes out of the fed and the dollar has not done much em has been well behaved em had a stellar year in 2017. it's only now we're seeing a strong -- a resumed strengthening back in the dollar again. dxy about 1.5% stronger. this is having a domino effect on em currencies, it's not just the peso, seeing it in turkey and the ruble. should we be worried about ems
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>> i think we should be worried about countries with vulnerabilities. it's not a coincidence that turkey and argentina are in the firing line. other countries have performed better we've seen less pressure in the brazilian real, mexican peso and the rand have faced pressure from a contagion effect. people are looking for liquid, easily traded current sis as proxies. >> in many cases a lot of these countries have done significant work on their finances since the taper tantrum we saw where are you positioned right now on em? >> we like the high yielding stories. argentina has been through a tough time we think this is a step forward. we think there's value now we think there will be
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opportunities in brazil. they have an important election in october of this year which is creating nervousness in the market local rates in both cases are high they have done a good job in combating inflation pressures. there are opportunities in local markets if we see currency stability. >> graham, thank you very much for joining us today elsewhere in the uk, britain's retail sales suffered the sharpest drop in more than two decades in april as an early easter and bad weather weighed on consumer spending like for like sales fell 4.2% from a 1.4% rise in march. head to to find out how this could effect the bank of england's interest rate decision bringing you some live pictures from moscow as the russian president, vladimir putin, and some of his senior officials watch russian military units heading through red square in victory day parade.
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emirates group annual profit more than doubled. the airline reported a $27 billion in sales as it carried more than 58 million passengers, a 4% increase on an annual basis. arjun joins us from dubai. you spoke with the chairman and ceo of emirates. it must have been a happy conversation >> it was very optimistic. let's dig into some of those numbers. the airline profit up 124% that was due to the decline in the u.s. dollar against other major currencies but the costs were up 7% and much of that was due to an 18% rise in fuel prices. fuel accounted for a third of the company's costs. that's the biggest cost
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component. they said it was a knew era for the airline. i asked about oil prices and the recent rise in oil prices and whether that was a concern for the company. let's listen in. >> today that's an option. we dealt with fuel prices over the years when it was at 140, above 140 and below 230. it's a market that we cannot control. of course, i mean, this year it was something like 28% of our total costs were fuel. so we manage we have a talented team who work on this all the time. >> is there a price you're looking at where you begin to worry more >> not the price we're looking for. if you tell me i always want the lowest price, the market will determine that
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>> what's interesting is that emirates doesn't have a current hedging strategy when it comes to fuel prices they got rid of that i asked whether he would consider bringing in a hedging strategy he said no, that was not on the table now. you can see the prices are clearly a bit of a concern another point here is the trump news pulling out of the iran deal and further sanctions and what that could mean for oil markets. he said that was not an immediate concern for us but something the country was watching the increasing profit made the sheikh a happy man today as he hailed a new era for emirates airline. >> interesting they don't have a hedging strategy given what we're seeing with the price of oil. other corporate news, vodafone is trading sharply higher after striking an 18.5 billion euros deal to buy cable operations from liberty global
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the deal is expected to face a lengthy eu antitrust review siemens has lifted its full-year profit guidance sending shares near to the top of the stoxx 600 they also reported better-than-expected second quarter net profit siemens said full earnings per share would be between 7.7 and 8 euros. disney shares slipped in extended trade after the company reported quarterly results that beat on the top and the bottom line disney studio entertainment business saw revenues soar 21% year over year driven by the success of "black panther. it came in at 2.5 billion for the quarter topping wall street's expectations of 2.2 billion. revenue of the media networks
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and parks and resorts also beat expectations earnings come after disney's bid to acquire many parts of 21st century fox on monday. comcast plans now to make an all-cash offer for fox if the department of justice gives the green light of at&t's acquisition of time warner the comcast bid would top disney's and include a full acquisition of sky despite the threat from comcast, disney's ceo, bob iger, said he believes the deal will close >> as part of the 21st century fox acquisition we're buying the 39% that 21st century fox already owned. we know they've been in the process of trying to buy the remaining 61%. that's pending regulatory approval should fox be successful in buying that 61%, we would step into their shoes and own 100% of it if they done, we will own the
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39% that we'll be buying as part of the acquisition >> joining us on set to discuss this is tim mulligan i want to pick up on bob iger's comments he was speaking to us about the comcast deal given it's our parent company as far as fox are concerned, do you think there's going to be any loyalty to disney given that the agreement was almost set to go ahead as far as they were concerned back in december, this comcast bid seemingly came out of the blue. do you think fox will have loyalty to the original bid or is it a function of going to the higher bidder. >> inevitably, yes it may be a protected process, and there have been behind the scenes discussions between james murdoch and bob iger about the role that he could play in disney in the acquisition goes
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through. so there are already expectations on both parties if you think about murdoch senior as well, his background and what legacy he wants to leave behind, disney is a better fit for what he's built up with 21st century fox >> tim, i want to talk about some disney numbers. what would the company's bottom line look like without marvel and "star wars," do you think? >> significantly different the interesting thing from yesterday's numbers, if you look at the studio segment of the revenues, studio entertainment, 21% in operating revenues, but operating income was up. so over the previous six months there's been an increase of 9% for that segment but in the last three months,
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there's been a 29% increase in the operating income that's come down to two things, "black panther" and unexpected huge international successes and underlines disney as a global brand, and we also have the avengers franchise those two movies alone brought in 2$2.5 billion, which approximately half the revenues are coming outside the u.s. now. >> i want to talk about the global presence of disney. you say that's one of its main strengths. as we look forward to them building their own video on demand, streaming service, i wonder are they missing a trick against the likes of netflix who are building these successful shows produced in italy and france and spain and brazil and mexico and building out those global audiences for their streaming service? if disney is focusing on the u.s. domestic market, is that a handicap >> i would argue disney will not
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focus on the u.s. market what they have which no other stand alone network or studio what is a life long audience if you look5:q 5:questi 5:question -- acquisition of marvel and lucas film, that was to build a rapport with the younger audience who grew up with animations, children's animations, what they did by acquiring marvel and lucas film, it allows them to continue that relationship into teen year the and adulthood. that's something that no other original content owner has the challenge for -- the challenge for disney is how do you scale globally and how do you differentiate yourself disney's challenge is they're coming in arguably late to this
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space. they're not coming in late globally, which is why i emphasize the global opportunities. domestically subscription video and demand is 43% in the u.s over half of u.s. homes now have netflix weekly active use. so the opportunity is not in the u.s. it's international netflix struggles internationally because the price point allows them to appeal to the elites in most emerging markets disney already has those relationships. because they own the ip, they are not tur tail kucurtailed bye points >> they also launched espn plus. how has that done so far >> too early to say. the big challenge espn plus what is they are -- they're in that classic business dilemma of
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realizing that change is essential, yet at the same time knowing that to undergo that change will cause huge disruption and short-term pain right now the overwhelming majorities of the biggest single operating segment for disney is the media networks section and a significant portion -- nearly half of the revenues come from espn alone. now if they give espn plus all the access to the same content they offer their pay tv partners, they're going to antagonize their pay tv partners and see a significant reduction in the income that comes in. because the subscription video and demand market is a much more competitive lower price part >> we have to leave it there thank you very much for joining us operating profit at softbank rose 27% in its fiscal full
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year the japanese telecom giant saw earnings at 1.3 trillion yen in line with estimates. the veision fund deployed nearly $30 billion in capital year end to march. separately, the ceo of soft dank has confirmed walmart will purchase a majority stake in indian company flipkart. let's look at u.s. futures all three major indices looking to open positively that's it for today's show i'm willem marx. >> i'm joumanna bercetche. "worldwide exchange" is coming up next. mr. elliot, what's your wifi password?
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wifi? wifi's ordinary. basic. do i look basic? nope! which is why i have xfinity xfi. it's super fast and you can control every device in the house. [ child offscreen ] hey! let's basement. and thanks to these xfi pods, the signal reaches down here, too. so sophie, i have an xfi password, and it's "daditude". simple. easy. awesome. xfinity. the future of awesome.
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it is 5:00 a.m., here are your top five at 5:00. global reaction pouring in after president trump pulls america out of the iran nuclear deal. disney reporting strong quarterly earnings thanks to the huge success of "black panther." vodafone is buying parts of liberty global for $23 billion. facebook announcing its biggest executive shakeup ever. and maerns pitriners pitches paxton throwing a no-hitter last night, but why it's the first no-hitter of its kind in 73 years. it's wednesday, may 9th.


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