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tv   Street Signs  CNBC  May 17, 2018 4:00am-5:00am EDT

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welcome to "street signs." i'm joumanna bercetche these are your headlines angela merkel says the eu is ready to consider reciprocal tariff reductions with the u.s., and emanuel macron says the block's trade sovereignty must be protected. special clidelivery for owed da the online grocer makes a deal
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with kroger. altice jumps to the top of the stoxx 600 delivering its best commercial performance since 2014. rough seas from maersk as first quarter profits are below expectations good morning lots to get through today. first let's check in on markets. asian equities in the green following a stronger session in wall street. in europe, it's pretty much evenly distributed the broader composite index is trading around the flat line let's get into the individual indices. ftse 100, not a lot of movement on the composite index some major news coming out for
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u.s. bookmakers, they're in focus after they announced they're cutting the top stake in gambling machines to 2 pounds. also uk property sector has been dragging with some updates from british land and foxtons underwhelming. xetra dax is in the red, coming at a time when all of the eu leaders are meeting for the eu counc council. ftse mib is rebounding, up 50 points, 0.2%, a comeback after yesterday's weak session that is after another leak has been released to the press indicating that the five star and lega taken out the reference to leaving the eurozone, so for the time being there's somewhat of a relief rally going on in italian assets looking at sectors leadership this morning is coming from utilities, up 0.6%
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retail up 0.6% oil and gas having a good showing in line with the price action the last couple of days underperforming we have financial services, as i was just talking about this is on news of the uk bookmakers being forced to reduce the minimum gambling stake. food and beverages down 0.3% the major story is that of ocado branching its wings into the united states. >> the main story, the european union is willing to discuss lowering trade barriers with the u.s. but only if the reductions are reciprocal willem is at the eu summit we're coming up to the deadline of the extension that's june 1st. seems as though at least germany from merkel's side is beginning to show some what of an inclination to start discussions and provide concessions. what more can you tell us? >> you remember, joumanna bercetche, back when this
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started in march and the u.s. first announced these tariffs, and then put them into place, obviously they from vided exemptions immediately for the european side of things. at the time the europeans said we will not negotiate flanything do with u.s. trade, if there is a gun pointed to our head. that gun remains in place, and there is a bit of a change of rhetoric from angela merkel. here's what she said just now. >> translator: we have a common position we want a permanent exemption and we will discuss how to reduce the barriers to trade >> we heard from emanuel macron as well about trade but in terms of european companies working inside iran, investing inside iran he said companies must be able to make a free choice about whether they continue to trade with iran. this is one of the challenges for european leaders that donald
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tusk outlined for today, that they wanted to get carve outs from the sanctions that the u.s. has planned, whether they can do that at the same time while trying to figure out with steel and aluminum tariffs is a lot to do we also had theresa may here arriving with ms. merkel and mr. macron, the three of them showing a unified position on that iran deal they are hoping that the european powers will together back their call to stay inside of that deal, something that donald tusk last night was clear that he wanted the european leaders to do. we heard about the customs union as well. that's a big political question inside the uk as we get closer to the next eu summit towards the end of june, whether the uk side will present a united front on remaining inside the customs union or leaving some discussions still central to thinking about westminster here's what theresa may had to
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say. >> the united kingdom will be leaving the customs union as we're leaving the european union. we will be negotiating future customs arrangements with the european union i set three objectives we need to have our own independent trade policy, we want a frictionless border between the uk and eu so trade can continue and want to ensure there's no hard border between northern ireland and ireland >> that's no different to what she said several months ago during her lancaster house speech, but her cabinet remains seemingly divided on this issue. she's trying to force things to a head with them and force the cabinet to present a united front so she can tell the european side what britain wants to do, and regulatory alignment. those are two related issues as it comes to brexit next year >> there's a bunch of topics you mentioned that are coming up, brexit, customs union, this is
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the first eu leader's meeting since the u.s. withdraw from the iran deal and the subject of tariffs. what's interesting is we're getting a cohesive response from the eu we did have the somewhat combative comments from donald tusk on twitter, vis-a-vis the europeans relationship with the u. u.s. broadly speaking it looks like the eu is sticking together. >> we heard those comments from donald tusk on twitter and then gave remarks yesterday ahead of a dinner one thing he said he wanted is unity when it came to the the economy, to politics, and the milita military that's something they'll talk about and sit down in a one-on-one meeting one reason why theresa may is here in the region is to try and show europe and this part of europe in particular that they will maintain a security
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cooperation with this part of the world. in fact, uk funding for macedonia has gone up dramatically they've assigned a military officer from the uk army to try to help the macedonians update they're military thinking. a lot going on with some of these leaders, trade, iran really the central topics. >> you'll be busy for the rest of the day emanuel macron says companies must be free to decide whether or not to continue trading with iran after total and maersk say they may withdraw from the company if they're not exempt from u.s. sanctions against iran and our guest is here. picking up from willem's remarks and reports, eu sticking to the line they're reconfirming their commitment to the iran deal, which makes you wonder in the first place why the u.s. were
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insistent on pulling out of it given the threat of building a bomb is much worse scenario than being contained. >> you have to put this into thinking long-term about iran. looking at the people surrounding donald trump, like donald bolton who has called for regime change for to years rudy giuliani talking about regime change, regime change there's a totally different mentality in washington from europe for us sitting here immersed in financial markets and european politics, it feels like this is madness and unexpected to withdraw from iran it seems to make it more likely, but in washington this is a logical continuation >> is there validity to that argume argument we heard from analysts that they
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expected some hard liners in iran to gain power at the expense of rouhani >> i think trump is probably right that we can't carry on like this the iranians have been hostile to their neighbors in saudi arabia they're pushing hard in lebanon and in syria and they have not toned down the rhetoric that's true. but on the other hand, will this work no, it will not work so i think the trump administration is taking lessons from previous experiences with sudan and north korea, where the regimes were hit with sanctions until they backed down, until they came around to the u.s. position or seemed to be willing to negotiate in iran that doesn't work. though iran is a toll teforce, i
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them with sanctions, all they have to do is survive to the next election until the next election and then it may be worse. >> and the fact that the eu is sticking with the nuclear deal now. >> the eu have been clear from the start. it's not like this is a surprise to the trump administration. the europeans always said they would stick to the terms of the deal the fact is that the eu's adherence to the deal from now on will be more diplomatic than economic, because with the u.s. secondary sanctions, most european companies, we've seen total, maersk, siemens as well all saying they cannot operate in iran if the u.s. is imposing secondary sanctions. they need an exemption from the treasury in the u.s. so the europeans can still push diplomatically for the trump administration to come back into the deal or to make a new deal, but they can't on their own deliver the economic rewards
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which make this worth while for the iranians >> we heard yesterday that the u.s. is applying sanctions to the leaders of hezbollah as you pointed out, john bolton, much more hawkish stance towards the middle east, particularly as it pertains to iran and its various satellite groups what does this mean in terms of the narrative we're more likely to see in the middle east over the next couple of months? we just had the israeli somewhat offensive attack almost on the gaza side of the border. i just wonder how you see things turning out in the next couple of months, whether the tension in the middle east is going to get worse as a result of what's been happening and the u.s. administration >> so the temperature around israel's periphery is rising that's happening in gaza as we saw with the protests and the
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embassy opening and in lebanon and in the west bank, the palestinian authority is increasingly vulnerable to its own opposition there's also a large meeting happening in turkey in the coming days to discuss gaza, israel and the u.s. embassy. that's likely to worsen the situation because we'll see a more concerted diplomatic effort on the parts of arab states to build a stronger line against israel definitely the temperature will rise the area to watch is syria and lebanon. >> we have to leave it there fascinating to talk to you very interesting part of the world to look at >> maersk shares are slumping after posting weaker than expected first quarter profits the danish shipping company cited increased geopolitical uncertainties adding it plans to shut down its iranian business
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if sanctions go ahead. and ocado shares are surging after the online retailer signed a deal with u.s. retailer kroger to use its technology for grocery deliveries kroger will take a 5% stake in the british online grocer, and the deal is the latest in a series of tie-ups announced by ocado. it has entered agreements with ica, sobe and french supermarket operator, casino shares are up almost 40% in trading on the news. royal mail shares are falling after it warned that it expected declines in letter v volumes may come in higher than the range. they cite parcel volume growth at its european business operating profit dropped 2.5%. you can see the stock is trading down 4.5% in trading this
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morning. british bookmaker stocks are under pressure after the uk government slashed the stake on gaming machines from 200 pounds to 2 pounds. bookmakers have warned a cap on bets would hurt one of its biggest business segments and threaten jobs. we've discussed a lot already on the show from the eu council meeting to the middle east developments and some corporate news driving movement in the ftse today. follow us on twitter, send us a tweet, or tweet me directly, @cnbcjou. italy's five star movement and legaavrehe he acd an agreement. more after the break mom you called?
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since 2016 first quarter revenue fell to a slower pace as broadband customers were added for the first time since the unit was bought four years ago. sfr's poor performance was blamed for altice's haven't selloff as investors felt they could not payoff their debt pile today the stock is up 8.5% or so poor european weather which affected the performance of road construction sawloss they also saw revenue fall during the period. and in italy, telecom italia's first quarter earnings have missed forecast as the group reports its first set of numbers since elliot advisers took control of the board. ebita fell to 1.89 billion
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euros, missing forecasts the company cited pressure fritly and continfrit ly -- from italy and continued under-performance. and recordati shares are under fire after a possible takeover discussion. ta recordati is looking for potential bidders after the beth of its boss. let's look at how some of the key italian stocks are doing ftse mib is recovering after yesterday's deep decline in trading. seeing a moderate rebound from some key stocks here, the banks are the names that are underperforming. unicredit down almost 1% similar moves from intesa sanpaolo italian bond yields have
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marked their biggest one-day surge since march 2017 after the leaders of the five-star movement and lega spooked markets with a defiant response to concerns around a draft proposal jitters around the plans to negotiate sovereign debt repayments and rules underpinning the euro overshadowed announce the mentsm officials from both parties signaling a joint program has been finished. mateo salvini dismissed the market reaction. >> the spread is rising. do you remember what the spread means? it's the game of finance, who sells, who buys. do you remember how the last democratically elected government was dismissed berlusconi's government that lega was part of the spread is rising, stocks is down europe is worried. washington is worried. berlin is worried, paris is worried. if the officials need to live in
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fic fear and worry, it means we're doing the right thing. >> among the policies expected to be sought by both parties is a reassessment of eu treaties, and there has been speculation around a potential citizenship income which would see italians receive 750 euros per person a month. joining me is a strategist from ubs. so we're seeing a rebound in italian assets today i was talking about some of the key stocks we have euro, italian equities, which one do you think has the most risk premium priced in now? >> i think generally speaking as we head into the year, our main thesis has been that you need to go out the credit spectrum the higher the risk exposure,
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the more the risk premium. one webbirecommendation has beeo be long italian banks. this news has not helped the performance, but the stocks have for a number of reasons held up better in the selloff. >> again, as you say, a big proportionate part of the ftse mib index is financials and utilities as well, both have been boosted the oil sector helped. from an outlook perspective, would you want to get involved in italian equities? >> yes banks are big, but there's other sectors as well. the main thing to keep in mind about italy, if you were to strip out the politics, i know it's hard, but italy has lagged the recovery globally. it's growth rates at the moment are sufficient to start bringing unemployment rates down quickly over the next couple of years. as that happens, the impact that
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this has on the economy is big it has a big impact on the balance sheet of the economy that's why we have focused on banks, because this shift that this can have on npls can be very important the repricing that comes as a result of that improvement in the balance sheet is a power underlying force >> what are you thinking on bdpbdtp here what is the view from here >> there are two opposing forces which link back to my previous argument if you look at any debt sustainability analysis, the fact their moves the needle the most is the growth rate. even small adjustments in the growth rate can have a huge impact given the better growth rates, given the fiscal erformance, a the moment debt dynamics are improving. that's an underlying force that helps people in an environment of low ecb rates
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what investors have to weigh is the risk from politics the political risk has surged, which brought that selloff after the market was actually long italian bonds. the main thing that you need to think about is whether these kinds of discussions, these kinds of proclamations do need to policy outcome or if they're part of an adjustment process of two parties that go fresh into a government into reality. >> that's what happened in greece, isn't it >> yeah, with a lot more painful process. >> i want to broaden this out. if you were mr. draghi confronting this situation, you have a question mark over one of the biggest debt markets in europe the shake out in bonds, renegotiate of eu treaties, at the same time you have inflation which is still low, the hipc numbers at 1.2%, would you
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really start think being withdrawing accommodation? >> there's two separate questions to your question, which is a complicated one the first question is do you tighten? the second question is do you remove accommodation it seems the ecb are convinced that the environment is improving enough for them to not have to incrementally ease more, which they think of in terms of extending qe so sometimes towards the end of the year they will have to adjust their purchase program. as you said, in an environment where inflation is still reasonably low, what you end up having is the ecb is not pressured to actively tighten. that allows them space in the communication to adjust to market pressures like the one we have at the moment >> have to leave it there. thank you very much for doing
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the show coming up, going public. we test the ipo pipeline in europe for the year ahead when we return.
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♪ with expedia you could book a flight, hotel, car and activity all in one place. ♪ welcome to "street signs." i'm joumanna bercetche these are your headlines french president emanuel macron says the block's trade sovereignty must be protected while angela merkel says the e
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sushgs rea u is ready to have reciprocal trade with the u.s special delivery for owe cad da the online grocer makes a deal with kroger. altice jumps to the top of the stoxx 600 after the french unit shows signs of recovery delivering its best commercial performance since 2014. rough seas from maersk as first quarter profits miss expectations amid geopolitical and shade risk sending shares to the bottom of the stoxx 600. all right. let's check in on european markets. talking about some recovery
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we're seeing in italian assets ftse mib up almost 100 points. up 0.4%. this is one day after its steep declines that we saw in yesterday's trading. as the market was gripped by fear of the leaked memorandum between five-star and lega some tone la behas been dialed n in the second leaked memorandum. ftse 100 around the flat line after bookmakers are under pressure after the minimum stake in gambling has been cut let's talk about foreign exchange yesterday we saw another strong session for the dollar today the picture is different we're seeing some weakness in the dollar that's manifested in euro and in sterling both trading stronger. dollar/yen through the 1 10 mark
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this is as the dxy continues to make new highs on a composite basis. switching to u.s. futures. dow opening up about 30 points lower. s&p about 4 points lower keep an eye on the philly fed, and it is thursday so we have the weekly claims to look at senior officials say trade and manufacturing adviser peter navorro will not be a principle player in the discussions with the chinese vice premiere, instead the talk also be led by steve mnuchin, commerce secretary wilbur ross and robert lighthizer navorro's demotion comes amid
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trying a softer resolution with beijing. north korea threw the u.s. meeting into doubts yesterday. speaking to reporters, president trump acknowledged that the meeting was in question saying no decision had been made yet. peter alexander has more >> tonight the summit standoff president trump for the first time addressing north korea's threats to call off the historic meeting with kim jong-un we'll have to see. we have not seen anything or heard anything >> reporter: the president standing by his demand that a
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deal including north korea get rid of its nuclear weapons today one of kim jong-un's top deputies is framing that as a non-starter warning we are no longer interested in a negotiation that will drive us into a corner. >> we have very much in mind the libya model from 2003 and 2004 >> reporter: bolton citing gadhafi's agreement to shut down the nuclear program, but years later gadhafi was deposed and killed the white house downplaying bolton's comments. this is the president trump model. he will run this the way he sees fit. >> reporter: north korea's defiance stance a sharp reversal from haven't strecent conciliat, but experts say kim jong-un's
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gamesman ship is nothing new >> if we had any sense of history, we would understand this is a page from their playbook elsewhere, macy's shares have jumped over 10% on wednesday hitting a 52-week high after posting better than expected first quarter earnings. the retailer raised its guidance as same-store sales came in higher than expected with international tourism providing a boost. on the earnings call, the cfo of macy's said every week in the first quarter was good cisco sr hours trade despite beating on the top line and bottom line for the company. cisco shares have had a strong run in 2018 and are the second biggest gainer on the dow year to date.
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chuck robbins will be on "squawk on the street" later today, at 15:00 cet. shares in tencent have been under pressure in recent months, but saw gains this session as first quarter earnings beat forecasts. the chinese technology firm posted revenue of 11$11.5 billi, a rise of 48% as its gaming business continues to boom the company's operating margin rose 8% in the first three months of the year with video streaming and advertising growth helping the numbers. european listings raised nearly $15 billion in the first quarter of 2018 with healthcare firms leading the way. the largest ipo in europe so far this year was siemens raising 5$5.2 billion in frankfurt. london has seen two of the largest tech listings in 2018. the biggest was avast which
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raised over 8$800 million joining me to discuss the ipo outlook is our guest, and arjun kharpal as well. speaking about the european ipo landscape. it looks like the numbers are up on a yearly basis but that was boosted by those mega ipos i mentioned. what does it look like when you take those two deals out of the question >> overall the markets are favorable now. the appetite for liquidity is there. the appetite for investment is there. the challenge is that there are only so many large companies that can list. so from that perspective the challenge of the ipo market is how do you list a smaller or medium size company. that's a reflection, a company like this will always find a strong market, whether locally
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or internationally but listing the small and medium sized companies is a challenge wanted to touch on the tech side of the equation here. we've seen a lot of big tech companies grow in europe, is there a sense that larger tech companies, i'm thinking about the likes of spotify for example don't want to stay in europe that was a swedish firm that moved over to new york >> it was a swiss firm for two minutes, and it is a swedish firm at the end of the day certain companies will have the global reach and global demand. listing in the u.s. is important, at the end of the day they have increased reach, branding and visibility beyond the ipo, beyond the listing. from our perspective what
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attracts companies to the u.s. is the risk appetite, depth in terms of investors, analysts, peers and so on, but then the commercial layers that many forget that's what attracts companies to the u.s >> there's been a number of companies in the pipeline in europe, particularly a few in london now gearing up for an ipo this year. how attracted are they to the markets you operate in the nor ricks? have you discussed bringing those companies over to your markets? >> we have roughly 15 to 20 companies a year that list in the u.s., do a list or list in the u.s. those are mainly in the healthcare space we see more and more tech companies evaluate that offering the nordic markets going back to my original point about listing small and medium sized companies, you can list a large company everywhere that's the positive thing. what we have in the nordics, which is extremely strong, we have an ecosystem that supports smaller to medium sized
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companies. we have a lot of growth, tech related companies that are coming to market which are smaller ipos, not making headlines, but creating an offering where the exchange plays an important role. that's what we're seeing now more and more internationally, peers are listing on our markets and we're seeing more and more international companies evaluate our offering 10% to 15% of our pipeline is now non-nordic >> i was looking at the two big deals, health shares up, but deutsche bank management down a lot. broadly speaking how is the secondary market >> i think secondary market has been fairly good to your point, each company is different. each sector is different it's difficult to bundle them. the challenge is that we tend to focus on the wedding itself but it's the marriage. it's the longer term so at the end of the day that's
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what we focus on i think if you look at the development of these companies, if you take a lot of the great success stories that we've had, probably not fantastic starts, but over time they developed and have become huge assets. >> you talked about wedding, marriage, i want to talk about divorce. how is brexit affecting the landscape? >> brexit is not something we were hoping for. having that scenario in mind, it's created an uncertainty. uncertainty is the worst enemy of an ipo. clearly that's creating more interest for our offering in the nordics and more interest for the u.s. offering. it's creating an interesting dynamic, not a huge dynamic, but at the end of the day we prefer brexit not happening that uncertainty is creating an opportunity for us that's part of the pipeline that we're seeing looking at the nordics and towards the u.s. >> adam, have to leave it there.
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thank you very much for joining us thank you to arjun as well coming up, an expense or liable that's the key question after trump's financial disclosure reveals he fully reimbursed personal lawyer michael cohen. details after th break crohn's, you've tried to own us. but now it's our turn to take control with stelara® stelara® works differently for adults with moderately to severely active crohn's disease. studies showed relief and remission, with dosing every 8 weeks. stelara® may lower the ability of your immune system to fight infections and may increase your risk of infections and cancer. some serious infections require hospitalization. before treatment, get tested for tuberculosis. before or during treatment, always tell your doctor if you think you have an infection or have flu-like symptoms or sores, have had cancer, or develop any new skin growths, or if anyone in your house needs or recently had a vaccine. alert your doctor of new or worsening problems,
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trump has filed his annual financial disclosure trump's washington hotel, a block from the white house, brought in more than $40 millio in revenue in the last year. the disclosure also revealed that trump fully reimbursed his personal lawyer, michael cohen, between 100,000 and $250,000 in 2017, renewing questions about legal ramifications of the payments hallie jackson has more. >> reporter: the president now appearing to acknowledge a payoff to a porn star for the first time in financial filings.
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confirms he reimbursed michael cohen for expenses incurred in 2016 >> did you know about the $130,000 payment to stormy daniels? >> no. >> the president's attorneys said he didn't know until recently that just before the election cohen paid stormy daniels $130 thush13 $130,000 t about an alleged affair. >> you cannot deny what the president said in the form and that was filed under the penalty of perjury earlier today. >> reporter: the office of government ethics requires these forms to be filed yearly to prevent conflicts of interest. they are not as comprehensive as tax returns, which the president has refused to release but they show how much money his hotels are making like his d.c. property raking in more than 40 million last year. some ethics experts worry it's become a magnet for foreign governments and lobbyists to get in the president's good graces. >> it doesn't tell us who it is
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coming from and it certainly doesn't take away the possibility of significant conflicts of interest. >> reporter: the filings show melania trump's earning power, too. she made money in royalties for her photos before she was first lady $100,000 and maybe up to a million. at the white house, a powerful facebook's ceo mark zuckerberg agreed to appear before european parliament leaders as early as next week. facebook and the european parliament president confirmed that zuckerberg will answer questions over the social ned work's network's role in the cambridge analytica scandal. and the clock is ticking on new data protection rules before they come into force next week 85% of firms are said to fail to be ready for gdpr by the may 25th deadline and by doing so
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they're missing an opportunity to build trust and boost the bottom line. many of our viewers are not familiar with the ins and outs of gdpr. what is this about what will happen a week from now? what's gdpr? >> gdpr is general data protection regulation that goes into force the 25th of may one week from now. it aims to give back control over individual data to the individuals. so it limits the amount of data that organizations are allowed to store >> 85% of companies are not prepared, won't be ready for the launch why is that? because they're not taking this seriously? or they have not had enough time to prepare >> there's many reasons for tha that >> first, it's a complex
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regulation 260 pages of text. 99 articles. it has a wide scope. second, there is big technological challenge. to give one example, to be compliant organizations need to be aware what kind -- what pern personal data they have in systems. if you take a bank, you may have a bank account, multiple bank accounts, shared bank accounts, you may have a mortgage, there may be e-mail conversations between you and the bank that's all considered to be personal data. organizations need to be in control and understand all those files, report on that and maybe delete all of that it sounds trivial, but it is also very complex. a large point i would like to make for reasons for not being
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compliant is that organizations tend to underestimate the impact of the gdpr will have as the research we did shows that organizations overestimate the trust that individuals have in their company. and they underestimate the willingness for individuals to act based on gdpr and exercise their rights >> it is all about trust and consumers trust in the companies. i thought one thing that was interesting is that you found that customers are actually more willing to take action now if the firm fails to provide data -- protect data was type of action are you talking about here >> so the research shows that 39% of individuals are ready to act if a company fails to protect data properly. they can talk negative to friends and families also on social media, that can have an impact on the reputation of an
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organization they can also bring the business elsewhere. they can also ask for data to be deleted from systems >> one last question for you which countries are leading in terms of the rollout for the gdpr regulation? which companies are more prepared >> there's a big difference between companies. differences are showing. the readiness depends on the exposure to previous legislation, regulations that have been out there, the difference that they need to bridge also, of course, do they want to go to the competitive advantage or will they take the defensive approach and just have a
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defensible position to watch the authorities. >> how long do you think it will take for the rest of the companies to get up to speed >> one out of four organizations state they will not be compliant by the end of 2018 compliance, just getting compliant is one step. getting beyond compliance, if you want to grab the opportunities of gdpr, organizations need to engage with their customers more. build trust so they spend more with them. >> absolutely. thank you very much. england manager gare gareth southgate has revealed
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his team for the world cup and fifa that been approached by a consortium with $25 billio being reached ed ied in revenus fifa has been criticized for trying to rush through the concept while other bodies say there's a lack of detail adam is here to discuss. what can you tell us about the story. >> the idea behind this fifa tournament is to replace what is the existing club world cup which runs every year. the winners of the champions league, the south american champions, they fundamentally go it's a december/january time real madrid won it quite often eventually it's basically to replace there and the confederations cup which is a national team tournament
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which runs the year before a world cup in the country of the world cup to maybe get used to some stadiums. that's the idea behind squeezing it into the fixture calendar but 24 teams, teams that have been european successful sides will be the ones based -- making up these numbers, that's why uefa are having reservations about this they already go a champions league which has two sides, this final real madrid and liverpool. so the sides that will be competing in this, they want in the fifa tournament. so there's a big pot of money on offer, this tournament is supposedly run every four years from 2021. it's something they want to vote on soon and get in the pipeline but a long way to go >> we need to talk about the england football squad what is your take? any surprises there? >> i think one thing that gareth
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southgate has done, being a former under 21 manager, he promoted youth and always said that maybe it's not a surprise to see trent alexander-arnold at 19 never played a senior game for arnold but has been exceptional for liverpool. they are in the european cup final, champions league final. a lot of defenders, we had to squeeze some players who were playing defense on to the midfield graphic ashley young and fabian delph. midfield options for southgate are limited. that's why loftus-cheek is being brought in, a younger player they have some exciting forwards they're still the third youngest england squad in history going to a world cup only one player with 40 catches caps on the side >> hopefully this time england will make it past the quarters thanks for that. after the break, we'll speak to the ceo of ocado solutions as the stock looks set to post its
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sure. mom,what's up son?alk? i can't be your it guy anymore. what? you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will.
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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. it is 5:00 a.m. on the east coast. the trade war is on, but not with china, japan reportedly working up retaliatory tariffs
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against the united states. oil hitting new highs for the year, trading nearly $80 a barrel overseas. youtube taking on spotify. it will launch its own streaming music service. kroger inking a major delivery deal with a uk supermarket chain. and hawaii on high alert big boulders now shooting from mount kilauea. it's thursday, may 17, 2018, "worldwide exchange" begin

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