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tv   Street Signs  CNBC  August 20, 2018 4:00am-5:00am EDT

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welcome to street signs. these are your headlines pepsi puts $3.2 billion on the -- making -- the government a 500 million euro recovery plan for the bridge collapse calling the funds a minimum wage offer shares in mulberry are in free fall after the uk profit warning.
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the collapse of -- [ inaudible brussels prepares for $80 billion tie-up as the commission is reportedly satisfied with the chemical firm's spinoff. our top story today. pepsico la is buying soda stream for $3.2 billion the beverage and snack giant will pay $144 per share for soda stream's stocks and the deal is expected to be finalized next year pending approval by regulators and soda stream shareholders pepsi-co cfo hugh johnson it would give them a chance to expand in the home beverages businesses it's the latest move who announced plans to step down earlier this month she'll be replaced by president -- in october and in a
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statement he said the deal would give pepsico new ways to reach customers. karen joins me to discuss pour about the deal karen, it looks as though pepsi has joined the line under this move away from sugary drinks as we know it towards more healthy options, snacks. also the soda stream acquisition. >> it's tapping into a bunch of trends there's an anti-plastics movement that swept the globe. starbucks and -- trying to do away with the plastics in stores to their customers i think this is part of the mix. pepsico has had a number of different watt r brands that use plastics this is to counteract that environmental concern and tap into the water craze you use it at home. >> it's a reusable bottle. >> if you look at the category it's volume growth 38% last year in sparkling water
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than 35% in 2016 it's outpacing the packaged water category there's strong growth in that segment. when it comes to pepsico, it tried to branch away from the sodas and snack -- the growth rates in emerging markets were tapped out to an extent. the there's been fears about the growth rate. this is another avenue to attach growth to the economy. >> keep the trends away from sugary sweets and the artificial sweeteners as you mentioned, the environmental impact as well one thing that did be stand out, they're paying a 30% -- 32% premium. can that be justified? >> her are the numbers from soda
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stream it will give you an idea revenue climbed to 171.5 million to the 30th of june. net income up 82%. the company is saying it's having best quarter ever, sales of sparkling water units increased. the rate of growth of the business, it tells you why there's a strong premium attached to this asset and strong management as well. it's changed hands a few times owner. majority owner has the strong credentials. more background too. we will know about this type of product within the marketplace, decades ago. you used to make your own sodas at home. make your own sparkling water at home it used to be a favorite of the britt tisish up-class >> thank you so much
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head to for more. the eu is ready to approve the $80 billion merger between be prax ar after the company addresses anti-trust concerns by agreeing to sell 5 billion euros of prax air assets to -- the deal will require approval from the u.s. federal trade commission before we move on, let's look at markets this morning as you can see it's about 90% green as far as european markets are concerned. strong open for the stocks about 2/3 of a percentage point after hours of trading strong start that follows the move in asian equities, which are trading firmer there was hope a among the mid level occurring between chinese and u.s. negotiators, offering
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some hope of a deescalation in the trade war between the two sides. let's get into the individual indices as well and look at picture there. rebounding this morning. up triple digits 130 points or so 1%. ftse 100 s broken back through 7600 up .6 percentage points a lot of focus on the activity following the genoa bridge collapse getting into sectors, we can see that leadership as well is coming from some of the trade sensitive sectors. up 2.3% already. auto is up as well lot of stories going into that oil and gas chemicals having a good day as well food and beverages lagging somewhat every sector in europe is in the
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green. u.s. china trade talk, our sector on wednesday, $16 billion worth of fresh u.s. tariffs on chinese goods come into effect wang shue wen will lead the -- in washington for a first set of negotiations $50 billion worth of levies on chinese imports. meanwhile, chinese authorities instructed by increased lending to infrastructure projects the -- beijing bids to support economic -- which hit the financial markets. in a statement, china's banking and insurance regulators urged lenders to face -- adding banks should stabilize foreign trade and investments. the united states has reported the offer by turkey to -- in exchange for financial relief of banking fines worth billions of dollars. according to the "wall street journal," washington will not
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consider other issues until the pastor is freed. the u.s. could impose additional on ankrah this week. vowed to fight back against those seeking harm to the country's economy. >> translator: today some people are threatening us with the economy, sanctions, exchange rate, foreign currency, interest rates, inflation we tell them, we see your game and we challenge you >> speaking with turkey, qatar and turkey have -- providing liquid it and bolstering financial stability. the agreement comes days after $15 billion in support to ankrah as the ally vows to back investments. s&p cuts turkey -- adding it was
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forecasting a recession next year moody's, downgraded turkey's rating said the chances of a swift resolution to the economic crisis were less likely to feel the weakening of financing institutions with all that of it's time to bring in the senior analyst of -- >> thank you for joining the show. >> thank you >> more news over the weekend as well before we get into the nitty-gritty, i want to ask you this a lot of people talking about the discussions over the pastor and the u.s. tariffs being the catalyst for the economic crisis in turkey over the last week my question is, wasn't this about to happen anyway given how many imbalances turkey accumulated over the year. >> turkey has been on the verge of this type of crisis for some time in many ways it's surprising it
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didn't occur during 2013 after the crisis there wasn't a pullback from foreign investors then or the 2016 kcoup tempt unfortunately, as the summer of 2018 has shown, hasn't been able to >> how much has this been a function of idiosyncratic story of turkey versus a move that macro investors are shieg away from the -- [ inaudible dollar strengthening the fed reducing balance sheets. we might as well -- into developmental markets instead of emerging markets. >> i would say that a couple years ago analysts like to talk about what they call the fragile five countries, turkey,
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indonesia and others most of the other countries prove more resilient because they had much stronger buffers, also much more flexible policy approach approaches in turkey, conditions had become political and innocence -- institutions such as the central bank has -- it's been an idiosyncratic case with regard to turkey. >> ha does turkey need to do to turn it around >> several things. give the central bank independence, improve relations with the united states i would say, although relations with u.s.have been politically quite frosty for a year or two now, that's not the main issue that's mainly symbolic what they primarily need to do is institute a goal target which they promise to raise rates again, they signal quietly an increase in rates. they need a back stop program for the banks in case of further
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weakening. >> i would say the central bank of turkey not tightening rates when the market expected them to a couple weeks ago, when the tightening did come, it was a little too late. that's an element of reasserting independence standing out as far as investors are concerned you see that anything -- imf -- >> it is a possibility they would like to avoid that. however, everything that the imf would recommend, the turkish government is aware of the effective rate is 19.25% inflation is 15.9. it will rise further interest rates have been raised too late but they've been at least raised the imf would recommend tightening fiscal policy on the drawing board. the main question is the political will, the minister of finance seems to understand
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this but it's not clear that the president is willing to allow rates to go as high as necessary. we'll find out about those factors soon but probably not until next month >> also other flashing red signals from the high levels of short-term debts that the financial market, the financial companies and banks have accumulated the last few years i wonder from a sustainability perspective whether the reserves that turkey has as a function of the external debt is efficient we should start seriously worrying about what's -- in the next 12 months. >> the reserves are quite low in international comparison because the central bank doesn't intervene as much as other countries. they don't need the stocks that others do. i think that's an imperfect comparison because malaysia and the czech republic have low levels of reserves relative to debt service in the case of turkey, if they had, say, twice the level of
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reserves, investors would be a lot more confident this might be achieved, but we're talking three to five years. >> speaking of turkey, we're getting headlines ought of erred fw gand -- erdogan those that think they -- they are mistaken turkey has the power and ability to overcome all of this as we were just discussing the aim is to bring turkey to its knees. referring to the attack on the economy. he says the attack on the economy is no different than an attack on the flag quite strong words coming out of the president there. but simulating their attempt to get things back in order again what would you need to see for the investor communities to start being more confident and see a stabilization in the currency and the credit markets there as well? what is the first thing you
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would need to see in the next couple of days >> we are seeing the right types of moves the presentation from a finance minister last thursday said all the right things interest rates have been raised quietly. we've had a couple ratings downgrades that's cleared the deck. on the point of an economic attack, i would see it just as reverse. i would say not that it's being attacked but being abandoned the one thing we need to see is the president giving carte blanche to the other economic agencies to do what's necessary in order to stabilize the economy to step away from accusing others. but rather, say turkey has the power to overcome this itself. it does. what it needs to do is implement those policies as opposed to continuing with the rhetoric >> actions speak louder than words. >> that's correct. >> thank you very much for joining us this morning. that was richard seagull senior analyst from -- >> join me at 11:30 prnl an
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hour's time when they talk about downgrading turkey. venezuelan president, nicolas maduro announced sweeping changes to the country's economy announcing cryptocurrency it devalues by 96% among the other changes introduced by maduro's government, including minimum wage hike of 3,000%. a corporate tax rate boost and subsidized gas prices. they've predicted that inflation will hit 1 million percent this year if you want to get involved in the conversation, you can e-mail us and tweet us at street signs or tweet me directly elsewhere coming up on the show, russian president vladimir putin waltzes his way through austria before heading north to tango with angela merkel
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welcome back to street signs. german chancellor angela merkel and russian president vladimir putin discuss ukraine as long as the -- no agreements were announced, however, with putin's spokesperson describing the meeting as an opportunity to, quote, check the watches president putin addressed the criticism of the gas pipeline describing it as an exclusively economic project speaking in berlin, president putin addressed the recent criticism of that gas pipeline >> translator: together with germany, we are working on a new gas pipeline, nor stream 2 in order to minimize the transit risk increasing consumption in europe in order stream 2 is an economic project. it doesn't close the door. i want to stress that the transit for yu korean is an
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additional transit we've satisfied the economic requirements. merkel chose to focus on the responsibility moscow holds when it comes to the most conflicted parts of the world >> translator: we have a responsibility, germany, but particularly russia because russia is a permanent member of the u.n. security council and we should work on finding solutions. >> interesting perspective we have principal analyst here from a company before we talk about nord stream 2, let's talk about the symbolism. it's the first time she hosted vladimir putin on german soil since crimea nothing was achieved what was the purpose of this meeting in its entirety. it happened to be a fly by because putin was at a wedding. >> the spokesperson was unusually being very frank saying this wasn't to check the
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watches. this was essentially talks about having talks and maintaining contact between the two sides. this has been a traditional aspects of german foreign policy towards russia even some of the more strained periods over the past five years. shouldn't read too much into this too much. there have been intimations that there may be in the near future involving turkey and other powers regarding the ongoing crisis in syria. none has been confirmed. essentially this was both sides restating their positions and essentially having a meeting to have a meeting >> obviously, it's more of a contentious topic because of the u.s. resistance to the topic it looks as though ukraine and its role in the transit pipeline is one sticking point between the two sides. how much of a sticking point is that to prove do you think
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>> it's a fairly large one the objective to many europeans states, particularly the -- that it would effectively bypass -- this is particularly important because not only the fees from that gas transit pay a substantial part of the ukrainian budget this hold over the transit -- gives leverage against moscow in the result of any sort of political or military tension. if you take that leverage away, you become quite vulnerable. while this did start as a commercial project and for germany, this is the interesting thing. for germany, it is a commercial project. though it's aware of political rm i have indications of cutting it out of gas transit infrastructure for russia, it is a political project. it is about accomplishing that goal so in a sense they're both kind of saying the opposite of what
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they really mean there >> also getting a lot of language out of of the united states as well president trump is being -- critical of the germany going ahead with the nord stream 2 completion how effective can the u.s. be while effectively blocking the completion of this project >> the answer to that is not terribly well. we have seen in previous sanctions, there has been -- sufficiently -- this has been some suggestion that the u.s. is over the longer term looking to gain a greater share of the market ultimately, this particular administration and president is not terribly popular within europe so any suggestion coming from the white house that nord stream 2 is -- kind of side of things will not really go down well with most european voting public additionally, while many european states will have quite
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a few reservations about the pipeline, the commission itself and the european union as a whole will not want to concede the principle that the united states can effectively make these decisions for europe the more that the u.s. pushes, the harder the eu is likely to push back. >> some form of hypocrisy as far as the germans are concerned they're using tough languages against russia this coming at a time when relations are fraught between russia and europe, between russia and the u.s. president trump aside. at the same time, they're very much reliant on russia as far as their gas imports are concerned. it's -- they're being politically expedient to put it mildly >> i wouldn't use the word hypocrisy. these are gas pipelines constructed during the bresh nef -- as much as germly is
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reliant on russian gas as a fuel source, russia is reliant on germany as a customer. it needs the income to come in to keep the running of russia in the running of gas russia is experiencing a number of socioeconomic problems, particularly with pension reform he made a number of promises, things that needed to be funded. there's an interdependence here. not one side has an advantage. >> finally, a quick point. interesting that this meeting barely got any coverage at all compared to the meeting between president putin and president trump. the fourth largest economy in the world. the russian counterpart. in this case, it looks to be business as usual. i mean, naturally, thr certain other stories around the
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relationship between president trump and president putin. maybe speculation on that one. the u.s. is also just generally been a bigger power and gets more attention in the media generally whereas german diplomacy would be less well-covered in english speaking papers it's not terribly surprising that the meeting didn't receive much coverage. nothing much of substance was agreed. >> have to leave it there. thanks for joining us. >> thank you. >> be coming up on the show, we'll be speaking to former greek finance minister, geor george -- sh
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a recovery plan for the genoa bridge collapse. calling the funds april minimum wage offer shares in mulberry are in free fall after the uk handbag maker issued a profit warning citing a worsening sales trend in britain brussels prepares to prove $80 billion tie-up as it's -- chemical firm spinoff. let's check in on markets. european markets are off to a good start for the week. all trading in the green 5100 above that mark, up 2/3 of a percentage point that's leading the way higher up 1.1% up 140 points or so. still up about 50 points up .3% that's in line with some of the
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optimistic mood we saw in the asian session as u.s. and chinese mid level negotiators are meeting this week and perhaps offering some hope of a deescalation of the so-called trade concerns switching to foreign exchange, today actually surprisingly, we've got on the -- this is again after dollars made new hikes. it continues to go from strength to strength. what we're seeing is euro dollar is weaker actually correcting what i was saying .2% weaker on the day. really through that 128 mark down at 127.30 you can see versus the yen, the dollar is trading a little bit stronger but then that is in line with the risk on environments we're seeing this morning. switching to u.s. futures. we had somewhat positive end to the week last week today dow is opening up about 80
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points higher. nasdaq about 30 points higher. this week the focus will be on central banking activities the main focus in the u.s. will be on -- towards the end of the week expect more guidance and perhaps color on the feds as we get to the end of the week. shares in -- ant atlanta i can't are trading lower in italy this is after the government said the terms 500 million euro recovery pledge. the deputy prime minister branding it, quote, ail minimum wage offer the biggest toll road operator gave condolences to the bridge collapse victims, stopped short of issuing an apology, saying it was too early to assign blame. >> so with that feeling in mind, my thoughts to be the relatives of the collapsed bridge victims and i express my sincere
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condolences from the board of management and myself as we share the pain. >> now tempers flared at the state funerals for the 43 victims of the disaster. a number of the families chose not to attend the event in protest of the government which declared a national day of mourning on saturday nine people remain in hospital and four in a critical condition. the italian government has plans for a massive infrastructure plan. they said deficit gdp or european rules do not exist when it comes to this enormous investment in public works >> also called on the european central bank to keep the bond buying plan open in the same interview with -- he said, quote, i hope the program will continue. adding it makes more sense in the wake of the genoa disaster they have planned multiyear
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highs since the coalition took power. grief can stand on its own feet that was the message -- the eurozone rescue fund -- it was first agreed in august 2015 to tackle the country's crippling debt crisis. thee -- along with the support of european partners the efm provided almost 62 billion euros in support over the course of three years. i'm very happy to say that george -- the former finance minister greece joins me from amsterdam. good morning to you, sir: >> good morning. >> watershed day as far as greece is concerned. my question to you is, can greece actually stand on its own feet again it's all great when the economy is growing and european economy is growing
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let me ask you this. bhaps when the next crisis hits? >> that's a very good question i'm afraid the answer is not overencouraging yet. if you look at the spreads on the ten-year government bond, today it's not much better than it was when greece lost access markets in april 2010. a lot has been accomplished. it is a milestone today. the crisis is far from over. it's going to be a tough time ahead. >> the next crisis is going to be do you think that both the greek and europeans have learned sufficiently from the last eight years or so on handling the grieco owe crisis. >> i think a catalyst for a possible crisis is if you see this government or after that, go back on its commitment, i
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would send the wrong signal to international markets. what we would need is this government or a government that would take over after the next elections to continue their reforms and to basically make sure that greece starts growing again. what is worrying is that the immediamedium and long-term gros not higher than 1, 1.5%. that's not really low. >> this is a time for introspecs for all of us. also, with our european partners who were far too late to react to what was going on took some of the wrong decisions in the beginning and during the crisis made an exist problems worse. for example, took too long to -- which was necessary for country. i was going to ask you about that point specifically. we know now in retrospect
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looking back that the ecb dragged their feet saying the restructuring thing -- accepted it to happen -- do you think things would have turned out differently if restructuring event happened sooner. >> i think that things would have been a bit better if the structuring had been sooner. it would have been impossible for -- anyone who says that seems they do not understand the politics and economics of the -- they are not willing to lend to greece let alone give it a big debt relief at that point. >> during the physical -- it would have to do unfortunately, the time that passed was too long. it could have happened earlier some of the blame rests with the ecb and some rests with the own
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country. extremely difficult for greece to get out and -- >> all of those years, obviously, european creditors have been insisting on austerity. at some point it did backfire as far as the relations between greece and europe and particularly germany are concerned. how would you define the strength of relations between greece and germany today >> i would say it's tested in the sense that there is a lot of resentment on the greek side for the continuing push for austerity in greece. a large part of that was unavoidable. on the part of germany, there is also a lot of populism in terms of how they see greece there the blame lies with the popular press and intended to paint a picture which does not correspond to reality.
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it's time for both side to be more realistic in terms of what's possible to germany and the rest of the eurozone countries -- it's been a tremendously difficult period. greece is's recession is the largest since the great depression in the u.s. it's been twice as long as that of the u.s that says something. it's time to rebuild and look forward. it's time to find ways to attract foreign investment in the country. it's time for the revolution and change in greek institutions >> you've got the elections coming up -- >> 14% as -- >> benefit from today's occasion given that it is an occasion for greece does it have any fiscal ramifications? >> i don't think that the -- the
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bailout will help the current government in any way. remember the third bailout was unnecessary. estimated the cost of the 2015 brinkmann ship by -- to tune of 100 and 200 billion. it's been three lost years for the country. they've not delivered on promises i think they will lose the next election the real question is, will the next government, which is likely going to be democracy, manage to change after -- attitudes in the country and give it a push towards reform remember, this is the same government, same party that brought greece into it in 2009 let's see whether they can change and if they win the elections, continue with reform and not fall into the old mistakes of the past >> then again, both sides also have a responsibility there. i also want to ask you about
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europe whether or not you're optimistic that perhaps going forward they will be a little bit more flexible it's not only greece that's asking for fiso owe it's also italy that's the big elephant in the room >> indeed. the question not just flexibility. the question is reforming european institutions so they're more resilient in the next crisis it will come no question about it we have come a long way since 2010 done a lot of institutional repairs, so to speak we're not there yet. banking union, cutting -- stopping the loop between sovereign and banks which was instrumental in making the crisis worse in europe is not complete yet the fiscal union is not complete we have made -- about restructuring of other countries in the future. yes, the euro zone and the
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european union is probably better placed to face a crisis at the same time, it is facing a situation where every country's debt is higher than it was in 2010 that is very dangerous we need to continue and accelerate i'm afraid there's too much political compromise going on at the moment and not enough understanding of the urgency of completing the reforms which have started >> thank you very much for joining us this morning. of course, the irony, an alarm bell went off behind you as you were speaking. that was the former finance minister from greece for more on that story and what it could mean, head to company news shares in mulberry in free fall after a profit warning was announced. 3 million pound exceptional cost profit, quote, materially
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reduced. as current sales trends continue. volkswagen ceo was told about software two months before a scandal erupted over emissions tests. that's according to reports from a magazine the report casts doubt over whether vw informed investors in a timely manner about the scale of the scandal coming up on the show, our climate week coverage continues with a look at the rising rates of extreme weather stay with us jimmy's gotten used to his whole room smelling like sweaty odors. yup, he's gone noseblind. he thinks it smells fine, but his mom smells this... luckily for all your hard-to-wash fabrics... ...there's febreze fabric refresher. febreze doesn't just mask, it eliminates odors you've... ...gone noseblind to. and try febreze unstopables for fabric.
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welcome back to street signs. cleanup in efforts have picked up the pace after the worst flood in the century hit the area hundreds died from rising waters caused by more than a week of constant rain. the downpour looks to have let up officials still fear the disease could break out and relief camps holding more than 700,000 people. british columbia remains in
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a state of emergency as wildfires blanket much of the province with smoke. air canada canceled flights to and from the region and thousands of residents have been evacuated. meantime, u.s. authorities announced the fire that closed the yosemite park has been contained. the largest ever wildfire has been consistent hot, dry conditions > ♪ our next guest says global weather conditions will continue to be record breaking for the next few years dr. phil williamson, climate change researcher joins us on the show thank you very much for joining us as you were just talking about, we're seeing extremely hot temperatures in europe and increasing recurrences of wildfires in california, floods in india how much of these events do you think can be pointed back to
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climate change in global warming. >> they're all consistent with climate change one can't absolutely say they're caused -- they might have happened otherwise they're more than twice as likely, five times as likely to occurred as a rise in the global temperatures it's sort of ayear on year ris and it happens in the winter as well as the summer we're more aware of it in the summer. >> there were reports of the -- the hot summers could become the norm as far as europe is concerned. >> that's the worry. in 15, 50 years' time, might have summers like this all the time i think it's bring down the message that climate change has costs and consequences this might be what we have to get used to. >> i've had this conversation with many people most of us are getting alarmed about climate change >> there's that feeling of
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helplessness in the sense that a lot of future can be dictated by corporations, institutions at a level rather than individuals. what can we do in an individual level to turn things around, things getting worse. >> we do need the governmental action to help make it easy to make the change. when i get on a car, airplane, me as well if electric cars were cheaper and easier and alternatives. the governments have made the commitment through the paris climate convention we have got the agreement to do something about it we need to put in the -- the mechanisms and policies to make it happen. >> is it too late in the process for us to unwind the process and the best we can do is stabilize things where they are now? >> we can certainly slow it down and avoid the worst consequences to reverse climate change, one has to take drastic action that people might be uncomfortable with it's thee rhett i cannily
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possible we can take carbon dioxide out of the atmosphere to cool down the earth. it is possible the easiest action is just to say goodbye fossil fuels and have the change that we can make, the urge ent change to avoid using the coal, the oil and the natural gas. switch to them as rapidly as possible. >> that is the biggest offender? you think that's the major change that needs to be effected >> undoubtedly, that's what needs to be done companies agreed to it but put it off it needs to be done now. as someone who watches this very closely, you're an academic in the field of climate change research, how alarming was it when the u.s. pulled out of the paris climate accords? >> it's setting a bad example for the rest of the world. it says that we don't believe
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science or science doesn't matter it assumes that can be reverse -- the sooner it can be reversed the better. it means that other countries, china or europe will take the lead and the advantage in the technological changes that are necessary. they will have different industries and unfortunately, they're going to be left behind. >> it's not just land temperature that's rising. it's also ocean temperatures sea level temperature has also been rising. that should be a serious concern as well. last year was one of the most costliest be we expect to see more of that. >> you mentioned hurricanes, losing a lot of the coral reefs. i'm glad you mentioned oceans, more than 90% of the extra heat is going into the seas and oceans might only be raising the temperature by half a degree or one degree at the surface. it's going deep down into the ocean also that changes ocean circulation patterns and different weather
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in the future. it can be difficult to predict the consequences. >> all very alarming thank you for joining us on the show dr. williamson climate change researcher. elsewhere, president trump says he has nothing to hide from the special counsel investigating russian meddling describing the probe as mccarthyism at its worst in a series of tweets, he denied reports that white house counsel don mcgahn turned on him by cooperating with the probe speaking on nbc's meet the press, be rudy giuliani wouldn't have had the pressures into testifying. >> what i have to tell you is, look, i'm nog not going to be rushed to having him tevaseu he's trapped into percentage when you tell me he should testify and tell the truth, and shouldn't worry, that's silly.
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it's somebody's version of the truth. not the truth. >> i don't mean to go like -- >> it srnt truth truth isn't truth. the president of the united states says i didn't -- >> truth isn't truth. >> donald trump says i didn't talk about flynn with comey. he says he talked approximate it. >> susan mcginnis joins us with more susan, we know from the president's tweets over the weekend that he's absolutely livid that the reports in "the new york times" came out talking about that meeting but some people are questioning whether or not he's taking a gamble by allowing the counsel to cooperate what can you tell us >> hi. good morning that is right. a lot of people say he shouldn't have allowed that. in his own strategy, he thought he was doing the right thing in transparency in retrospect he may not have. the president's attorney, giuliani, says he believes
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mueller leaked all this to "the new york times." the president accusing "the new york times" of printing fake news and calling the two reporters on the story fake rorpers, lashing out at "the new york times." cooperating with mueller, over 30 hours of testimony over nine months detailing the president's anger at the special counsel and his interest in firing the special counsel. also, we have the president threatening to take away more security clearances from top formersecurity and national security and intelligence officials and john brennan, the one person so far, former cia director who has had his revoked is threatening legal action talking about getting a possible injunction to stop the president from revoking more the president's national security adviser is looking into revoking or at least inspecting all security clearances that exist in government and out of government for all-time. this is many, many people. millions of people so that is the latest that it's happening. everyone waiting here to see who the president might revoke next
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their security clearance, including one person who still works for the justice department >> thank you for bringing us the latest that was susan mcginnis from nbc news before we head out, let's take a quick look at u.s. futures looking to open up this morning. dow opening 5 points higher. this after ending o n a slightly positive note seeing the third positive session in four weeks at the end of last week. this week, the focus will be on the central bank activity. jackson hole to -- that is it for today's show worldwide exchange it coming up next can be relentless.
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it is 5:00 a.m. at cnbc. here's your top five at five breaking deal news to lead the show pepsi buying soda stream for $3.2 million another tesla ftrifecta we're following a major development, that is venezuela, that nation devaluing its currency by 95%. dramatic images out of southern india where thousands are fleeing the worst flooding in a century. in the streets, we're kicking off our series with a top performing fund managers these men and women are crushing the overall market we'll get thei


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