i'm willem marks and these are your headlines this monday morning. the critics get closer the british newspaper suggests even more conservatives mps have submitted letters of no confidence in prime minister theresa may as she begins a crucial day of brexit. >> these next seven days are going to be critical they are about the future of this country it's about people's jobs, it's about their livelihoods. >> the a pac future summit fails to deliver a declaration members are split over trade. >> we have great respect for president xi and great respect for china, but in the president's words, china's taken advantage of the united states for many, many years and those days are over. >> and the right call. shares in telecom italia rally on the news that there will be a new ceo. >>> just to bring you some market developments over the last half an hour or so, shares in renault have hit the newest low after they say carlos ghosn will be arrested there's been a potential violation of the financial exchange act we await comment on the report let's check in on th

i'm willem marx. "worldwide exchange" coming up next >>> we are following three major developing stories for you at this 5:00 a.m. hour. first, rescue and recovery operations are underway in wilmington, north carolina flood waters continue to rise in the wake of hurricane florence we are live on the ground with the latest. >>> incredible pictures and video out of southeast asia. typhoon slamming into hong kong. you are looking live at washington, d.c., where today the president could announce tariffs on $200 billion worth of imported

♪ >>> welcome to "street signs" i'm willem marx in london with my colleague in japan. these are our headlines this monday morning >> european stocks soar hitting their highest level in a year as president trump and xi jinping call a time-out on fresh tariffs. >>> chip maker surging as president trump softens his stance on huawei. >> one of the things i will allow, however, a lot of people are surprised, we send and we sell to huawei a tremendous amount of product that goes into the various things that they make, and i said that that's okay that we will keep selling that product. >>> china logs the highest close since the end of april hopes rise for an end to the u.s./china trade war >>> deutsche bank shares also jump as sources tell cnbc the german lender will consider up to 20,000 job cuts as part of a major overhaul >>> and crude extends its gains after iran signs off on a saudi/russian plan to continue production cuts, but some oil ministers are unhappy the decision was made without them >> if opec wants to be alive, should decide inside opec, not to receive their i

it's not just about the trump/kim summit, willem. >> that's it for today i'm willem marx. >> i'm joanna versace. orwiatinor wchg. "wldde exchange" is coming up next. >>> i'm contessa brewer. it's 5:00 a.m. in the united states and 5:00 p.m. in singapore. we're hours live with president trump going face to face with north korea's kim jong-un. it's an historic first-time meeting between the leaders of these two nations and expecting to hear from the secretary of state at any moment. we'll head there straight live on monday, june 11th, 2018 "worldwide exchange" begins right now. >>> an

back to willem and joumanna. make sure willem doesn't have one of those beers hiding under the desk >> i wouldn't put it past him. thank you for that i'm struggling to pronounce the name of that company hijos de rivera. >> perfect >> i got it in the end >> let's look at how european markets are look on this final trading day of the week. cac 40 trading in the green. everything else is tipped to red. even dax is trading below the flat line. ftse 100 is the laggard down 0.6% let's also take a look at yields we've seen a big bounce in fixed income this week we have ten-year germany trading at about 40 basis points 10 basis points lower than the ecb meeting. ten-year u.s. back down to 2.92. never broke through the 3% mark. ten-year italy is back through 2.60, trading at 2.58. continuing to get love u.s. futures, today is a big day on the trade side. we can see the dow is seen opening up about 100 points lower. triple digit losses expected there. s&p slightly in the green. >> that's it for today's show from us. i'm wi

the french government will hold a 15% stake in renault now willem is in tourin. he has been covering the european elections and now we have this news for italy's all important fiat chrysler. willem, what more can you tell us about the italian government's likely position when it comes to a deal between renault and if i at chrysler >> julia, it is the center of a big in the city. in terms of the reaction so nar not a lot of items are off the table. this morning the economic brain trust of the lega party and he's in the lower half of parliament, he's speaking to the italian tv station and he says the italian government wants to see a symmetry if they have a stake in ren nault, they want to see they have discussion over the future. the force of leg gas he was talking about that and what that meant for fiat. >> although the additional disness mig-- businesses might e been saved that will no doubt be front and center as they go into these merger talks we'll no doubt get more comments from some of these people over the coming days. it seems to have served lega well get

willem is covering this story for us we've been tracking every public brawl that's been happening for weeks now. what is the latest >> we have about 40 minutes until the deputy chairman of telecom italia will open this up and then we'll have a chance for different shareholders to ask questions of telecom italia management in particular we'll have a period where those managers will respond to those questions led primarily by the chief executive. at that point shareholders will have to -- if they want to follow up, tell the room who they're voting for in terms of the slates from vivendi and elliott put forward, we'll have an answer in the next few hours as to who will be on this new board. the big challenge really for vivendi is proving that their appointed directors, the people recently resigned and many of whom are put forward today are the right people to direct the company as it goes forward they don't have many conflicts of interest which is what elliott has been saying about their roles on the board elliott put forward a set of candidates, many of them big figures in the world of

willem will have more analysis shortly. christian, we have to say good-bye christian shultz from citi research thank you for keeping us company here >> thank you >> that's it for "squawk box." more reaction on "street signs." plaque psoriasis can be relentless. tremfya® is for adults with moderate to severe plaque psoriasis. with tremfya®, you can get clearer. and stay clearer. in fact, most patients who saw 90% clearer skin at 28 weeks stayed clearer through 48 weeks. tremfya® works better than humira® at providing clearer skin, and more patients were symptom free with tremfya®. tremfya® may lower your ability to fight infections and may increase your risk of infections. before treatment, your doctor should check you for infections and tuberculosis. tell your doctor if you have an infection or have symptoms such as: fever, sweats, chills, muscle aches or cough. before starting tremfya® tell your doctor if you plan to or have recently received a vaccine. ask your doctor about tremfya®. tremfya®. because you deserve

. >> i'm willem marx, these your headlines. >> the shanghai composite ends at highest level since june, 2018, and posts biggest one-day game in roughly 3 1/2 years after president trump delays a tariff hike on chinese goods. >>> autos and basic resources leave europe higher amid u.s. and china will soon clinch a trade deal. >>> pharma deal makes a bid to by u.s.-therapeutics >>> and warren buffett is looking for big deals. the oracle of omaha says he's looking for a elephant sized acquisition but warns prices are too high we hear from the them himself at 12 central european time ♪ >>> well, it has been an incredible overnight session in the asian markets on the back of that news that president trump will delay the march 1 deadline for hiking tariffs the shanghai composite up 5.6% very, very serious gains and one statistic i want to throw out there for you, net flows into the shanghai and shenzhen markets as of friday topped 110 billion more than three times that in the first two months of 2018, so huge inflows into the china markets around the u.s./china trade news. >> all this on th

good morning, willem yes, that's right. so i sat down with rose mcgowan who of course is one of the leading voices to come out in 2017 with alleged allegations against harvey weinstein and of course the metoo movement then went viral in 2017. although it had been started earlier. so i asked her if she felt that the movement has had any impact. >> i'm always confused a little bit when the media calls it a movement because it made it -- i think it was a media thing that scared people, that made it seem like there's thousands of women in the street with pitch forks running after men, but that's really not the case. i have not seen any women in the streets with pitch forks recently, you know and for me it was just metoo is simply a shorthand to discuss something that was previously not able to really be publicly discussed. did this happen to you me, too. that's literally all sit the rest of it is just pressing a button on societal reset, which i think we definitely need to do and have done. and that's where i see it going. peop

." >> and i'm willem marx these are your headlines. >>> european markets traded sharply lower, while u.s. points bound again as they close out their worst week in two years. >>> and driving off course, hits the skids after significant finds over the carmaker's cheating >>> jay y. lee is set free from jail shares of the tech giant trade higher >>> and german coalition talks continue past the sunday deadline as angela merkel conservativ conservatives and the spd fail to find common ground on the labor policy >>> okay let's bring you up to speed with the eurozone pmi numbers if i'm just trying to bring them up here. and i think -- oh, here we are, eurozone generally, final composite pmi number is a strong one on the face of it. 58.8, 58.6 was the flash number, so we've exceeded expectations on that one. the december final number was 58.1 so, this is a very strong number for the head line final composite. let's break this down. final services pmi coming in at 58 above the flash figure of 57.6 the december final figure was 56.6 the final composite price for pmi, 54.8. 54.6 was the flash,

i'm willem marx. these are some of your headlines this morning ubs sinks to the bottom of the european market as an equity trading comeback fails to cheer investors. the chief executive tells cnbc certain markets are challenging despite their earnings beat. >> client sentiment is more volatile there's much more selection in how you see the series of ipos we are well prepared. >> meanwhile, better margins boost philips helping them beat forecasts for the first quarter with sales close to 4 billion uros. >> we are becoming a digital company. we are focused on health kcare, improving the health of people we have made clear choices those are paying off at the same time, doesn't want to get ahead of ourselves. >> the spread between the german and u.s. 10-year yield bonts as long as it nears 3%. >>> sticking with the u.s., president trump tones down his initial enthusiasm for north korea supporting the nuclear program. he says only time will tell if the two countries can reach a deal >>> not been a very eas

. >> i'm willem marx both in london happy monday here your headlines. >> sterling surges to a seven-month high against the dollar in a two and a half year peak against the euro as a new poll suggests the conservative's lead over labour has extended. >>> hundreds of thousands flood the streets of hong kong has protesters peacefully mark six months of anti-government demonstrations in the chinese territory. >>> france braces for a fifth-day of nationwide strikes against pension reforms adds the government seeks to calm fears but push ahead with an overall of the system. >>> and checking out tesco trades near the top of the stock 600 as the retailers considers a move that could generate $9 billion. ♪ >>> well, a very warm welcome to "street signs" this morning. let's kick off with a look at fx markets because we have seen a pretty strong move higher in the pound. you can see here trading around 131.59 sterling has hit a seven-month high against the dollar after a opinion pollex the ended their lead over the labour party the british currency hit a two and a half year high against the euro v

i'm willem marx. these are your headlines dow futures point to triple digit losses as the brief relief rally looks to end after alphabet and amazon sink in extended trade. >>> rbs misses third quarter expectations as the bank books another 100 million pounds of impairments. >>> lafarge hholcim shares get lift on the top and bottom line the and raises its sales guidance. >>> and electrolux shares tumble to the lowest level in four years after slashing its demand outlook and blames the impact of u.s. tariffs >>> european markets have been trading for just over an hour. it's been an incredibly weak session. as you can see, a real sea of red this is after amazon and alphabet reported disappointed outlooks yesterday dragging those two stocks down. filtering through to asia where we saw losses across that region europe is proving to be quite a victim as well in addition to those factors, plenty of corporate earnings in europe the stoxx 600 is down about 1.2% today. let's look at the sectors and see how the

tweet me directly at willem marks. coming up, concerns over raising oil prices threaten the profit of commercial -- dennis muilenburg will be on later. olay regenerist wipes out the competition; hydrating better than $100, $200 even $400 creams. with our b3 complex, beautiful skin doesn't have to cost a fortune. olay. - 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? - anncr: prevagen. healthier brain. better life. >>> week to street signs a lackluster start to the trading day in europe. you can see it's varied slightly in positive territory, up around a tenth of one percent as we look behind that number, the four major industries across europe, bit o

. >>> after the break, willem will have more from the italian election trail >>> coming up, we'll be continuing our tour of italy, the northeast city of venice where silvio berlusconi has been out campaigning for votes ahead of sunday's election successful people have one thing in common. they read more. how do they find the time? with audible. audible has the world's largest selection of audiobooks. books like peak performance... and endurance. books that energize and inspire for just $14.95 a month. less than you'd pay for the hardcover. with audible, you get a credit-a-month good for any audiobook. if you don't like it, exchange it any time. no questions asked. you can also roll your credits to the next month if you don't use them. audible members use the free mobile app to listen anytime, anywhere. ...on the go... or in the car. the audible app automatically keeps your place, no bookmarks required. so you'll pick up right where you left off, even if you switch your phone... ...to your echo at home. get more books in your life. start a 30-day trial and your first audiobook is free

let's get out to willem. >> that's our main dominating theme today, it will remain so over the weekend as bodies are recovered, we start to get a sense of the scale of the tragedy. my presence here today is a sign of other continued engagement with the european union while we're members of the union, it's a sign of our commitment to being close partners with the european union after we left and i can confirm that as we enter negotiations next week, we will do so in a spirit of sincere cooperation, taking a pragmatic approach trying to find a solution that works both for the uk and for the european union. >> can you confirm a couple other things or give clarity, the negotiations are three days away many things are unclear from the uk side. should we start with single market membership? do you think the uk should be seeking single market membership >> we set out our position in the speech the prime minister made at lancaster house earlier this year and our long and detailed article 50 letter which we sent to president tusk. that's the day wbasis on which give our negotiations. >> these a

. >> and i'm willem marx. >> goldman sachs warns the trade war has raised the risk of a u.s. recession >>> ams sees the light it launches a 4.3 billion euro offer for lighting manufacturer osram and kicks off a bidding war with bane and carlisle >>> the search is over abb shares get a boost as ceo bjorn prepares to assume the top job taking over from acting ceo peter in march. >>> campaigning from the cabana. takes to the beaches of italy to push his snap election agenda but denies he'll run an ant anti-euro ticket. >> persian gulf shipping lanes as well. we'll take you aboard the uss abraham lincoln to find out what they're doing to deter teheran >>> well, good morning, everybody. we're starting the week with a positive tone. you can see right behind me broadly speaking we're actually up in the green. now, remember last week was an extremely volatile week. by the end of the week we had wall street indexes all three close in the red for the week, although much up from the lows asian equities as well europe, all the action on friday was on the italian index ftse mirks b was do

i'm willem marx. >> i'm joumanna bercetche. these are your headlines unilever in the red after sales miss expectations in the first half the ceo warns consumer growth is falling short in certain categories >> one of our hot spots, to be blunt, one or two markets we're struggling in hair care and our black take business has underperformed we think those are good markets for the future. >>> an inbev beats second quarter forecasts as beer sales grow at their fastest pace in five years diageo's ceo tells cnbc a taste for gin is boosting performance. >> a lot of that growth is coming in the early evening occasion from -- i'll call it boring wine an boring beer an beautifully served tangaray and tonics have a lot of space to play. >>> nokia shares set for their best day in 17 months after beating forecasts in the second quarter on super charged 5g sales. >>> german business confidence hits its lowest level since april of 2013 as the ifo warns of turbulent times ahead for europe's biggest economy >>> it's a big day for european macro

. >> let's get out to willem in brussels now it's down to whether washington carves out exemptions for its allies in the eu, a lot will come to the meeting over the weekend with mr. lighthizer and his counterparts in europe >> they will be meeting here tomorrow morning in brussels getting more updates from cecilia malmstrom, the european commissioner on trade. she's talking to my right inside the building here at the brussels forum she's saying one concern they have is the europeans will need longer than the u.s. might to try and kick start any retaliatory tariffs. the u.s. will take 15 days, the european union may take up to three months she thinks this move is deeply unjustified. to give you an update on what she said in terms of the concerns about steel itself, let's have a little listen to what she said about the overcapacity in the steel sector >> we share the concern of overcapacity in the steel sector this is not the right way to deal with it it's not the right way to exclude europe in that we're friends, we're allies. we work together we cannot be a threat to national security

he says he will take a do or die approach to brexit willem joins us from downing street willem, what will be the most pressing challenges for the new prime minister >> we have seen some ministers arriving we've seen so many of them competing to become the next conservative leader and prime minister we're down to the final two. we'll know the answer in the next hour and a half or so as you mentioned already, we're widely expecting boris johnson to be named as the new leader. in terms of what he'll face, almost from day one the big challenge will be a died conservative party there's been polarization over brexit for the last six or seven months, that's gotten worse and worse. coming into this week, we had a number of high profile resignation announcements from theresa may's group saying they will resign. he has a tiny majority inside the house of commons that hampered theresa may time and time again as she tried to push her negotiation greed agret through the house of commons, that will not change for boris johnson. it will be incredibly difficult for him to get the majority number he

that's it for today's show i'm willem marx. >> i'm sri jegarajah thanks for watching. have a great weekend >>> apple's ceo tim cook speaking to cnbc after his company reported results those comments straight ahead. >>> stocks pointing to a lower open on wall street following yesterday's slide. dow futures down more than 200 points >>> and stepping down. the ceo of sony announcing his departure from the global giant. it's friday, february 2, 2018. "worldwide exchange" begins right now. ♪ >>> good morning a warm welcome to "worldwide exchange" on

we saw 15,000 people on the streets near barcelona we may see many more this afternoon. >> willem, thank you very much indeed for that. >>> let's move on. our next guest says a bullish stance on growth from the ecb means the central bank is like to make another qe taper decision in october. marcus shermer joins us. very interesting you say make another decision on tapering they are still buying 60 billion euros of asset on a monthly basis. i'm waiting for something more aggressive for a central bank which is seeing very good pmis, respectable growth number, and unemployment coming down >> the ecb is not aggressive we know that for years you're right, you're citing the good macro back drop which is behind the idea of gradually slowing down the pace of asset purchasing they did that once we expect them to slow it down from 60 to 40 that sets the stage for ending qushg e e by td of next year >> oil prices have picked up, that should be a support for inflation. but is that only a temporary support? >> i wouldn't say temporary. oil prices are in a range where they will be staying for a while.

. >> i'm willem marx here are your headlines. >> can he avoid a taper tantrum? mario draghi walks a tightrope as the ecb president looks to shift away from easy money without royaling markets >>> ab bpob posts a weaker than expected second quarter. >>> deutsche telekom adds more than 1 million customers in the latest quarter >> we've been fortunate in the first quarter again following a good streak of acquisitions last year we extend with a disciplined approach our portfolio >>> we've seen a broader and higher open in europe with the stoxx 600 up over a third of a percent. taking its lead from more record closes in the u.s. overnight and a raft of earnings results are out today. on the whole broadly positive which has signaled the market opening higher you can see that reflected in the key movers in the markets today. let's look and see how the individual bourses are shaping up the xetra dax is in the lead, up 0.75 cac 40 up over a half percent. the ftse 100 up over 0.40% negative statements out of easyjet, yes, it managed to deliver higher unit revenue, but the

willem >> continuing our conversations about equities, we're joined at the table. the f&p numbers were surprisingly good. how are you advising clients about the apparent disconnect between these historically strong economic fundamentals we're seeing in the u.s. and the continued concerns a lot of market participants have about the future performance of some of these asset classes in the united states? >> that was the actual central theme of our outlook for 2019, american preeminence in a rattled world. we're where they like them to be unemployment is low and stable inflation low and stable, but the sentiment, the survey data is going up and down around that data for quite some time there's two time rises looking for us a year or so out, strategic time rise five, ten years out that way as far as tactic goes, if the markets do set off based on some of these rattled themes, based on lower sentiment, we're looking to add equities and taking profits recently because the market has come back to where it was in december long-term perspective, comes to how much stocks vers

i'm julianna tattlebalm. >> i'm willem marks. "worldwide exchange" coming up right about now. ♪ most of us don't know how much data we use... ...but we all know we're paying too much for it. enter xfinity mobile. america's best lte with the most wifi hotspots. combined for the first time. when you're near an xfinity hotspot, you're connected to wifi, saving on data. when you're not, you pay for data one gig at a time. use a little, pay a little. use a lot, just switch to unlimited. get $250 back when you buy a new samsung galaxy. call, visit or click today. >>> the major threat from president trump topping your five at 5 this morning the president warning of, quote, the official end of iran if they want a war what will iran do in response? the market mostly shrugging it off. the saber-rattling so what does matter to stocks right now? we'll dig in oil prices are on the move you have that and opec ministers, their allies wrapping up a big meeting in saudi arabia we will take you there live. >>> google hanging up on huawei. we'll

what's the likelihood of this indicative vote taking place, willem >> reporter: downing street about that proposal, jomana. theresa may will tell parliament that she does not see a second referendum as a good idea. a number of her cabinet members lining up over the weekend talking about how divisive it would be and something she's very keen to avoid. essentially they would allow members of parliament, specifically the house of parliament, to vote with their conscience to essentially say to the government, this is what we see as the best way forward. now those options would include essentially a second refr ren dem, they would include theresa may's deal they would include potentially a norway style arrangement with the e.u. and also potentially a no deal brexit where the u.k. would crash out of the european union without any kind of agreement. what they're looking to do if these votes took place would be to find where there is a governing majority for a way forward and that would in one way save number 10 downing street a great deal of time. the challenge for theresa may is if you pur

i'm willem marx. these are your headlines european equity markets follow the strong global lead with the stoxx 600 firmly in the green after a record breaking session on wall street. >>> european leaders deal a blow to uk prime minister theresa may. they reject her latest proposal and give her four weeks to salvage brexit talks >> if there is no agreement on a deal that is acceptable to the united kingdom, we're preparing for no deal. i believe we can get a good deal i believe there's a growing desire to sit down and ensure we can achieve a deal >>> deals on wheels. uber is reportedly in early talks to buy deliveroo for several billion. >>> and let the battle begin the auction for sky opens this afternoon with comcast going head to head with fox in a three-round process to decide the fate of the british broadcaster. >>> just to bring you some flash pmi numbers. the composite pmi is 54.2 against 54.4 that's slightly lower than last month's 54.5 services pmi has come in at 54.7, against a poll of 54.4 s

willem marks joins us. looking forward to today's press conference between david davis and michel barnier, what should we expect to hear from that? >> the last few days have focused on eu citizens rights, on that so-called brexit divorce bill, and also on the issues -- minor issues, but also the irish land border issue tied up in that we should hopefully get more clarity on the british position on that divorce bill they might lay out their methodology. they haven't done so publicly. clearly ireland is something that is weighing on both sides, particularly the irish government saying the british government needs to be far more clear. that's something we heard from michel barnier today we'll hear more of that today. the british have a point about flexibili flexibility. we heard from david davis that he wants more imagination on the european side. michel barnier working on tight parameters, the mandate provided to him, he has to stick to that. every time he wants to move outside those parameters, he has to see

things can change in the next few hours. >> that is it for our show in london i am willem marks. >>> i'm joanna ver set i worldwide exchange is coming up next my digestive system used to make me feel sluggish but now, i take metamucil every day. it traps and removes the waste that weighs me down, so i feel lighter. try metamucil, and begin to feel what lighter feels like. jimmy's gotten used to his whole yup, he's gone noseblind. odors. 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. with up to twice the fresh scent power, you'll want to try it... ...again and again and maybe just one more time. indulge in irresistible freshness. febreze unstopables. breathe happy. the top five at 5:00 president trump blasting iran warning that country to -- never ever threaten america. >>> ceo stepping down for health reasons. papa john's making a move to protect itself from a takeover by its oust

[music playing] soleiman i'm julianna tatelbaum >> and i'm willem marx these are your headlines >> a slap in the face. iran's supreme leader calls america his enemy and says u.s. troops should get out of the middle east. >> european stocks follow lower and futures pair back and indicated a triple-point drop for the do you >> eu commission president calls for an end to the use of arms in the middle east as she arrives in london to discuss iran with british prime minister >> the use of weapons must stop now to give space to dialogue. we all are called upon to do everything possible to rekindle talks. there cannot be enough of that >> a fatal ukraine international airline crash. authorities invest gate the cause and the initial report suggests engine failure. flush. >>> welcome to the program iran has launched more than a dozen miceles in iraq in retaliation for the killing of qassem soleimani >> the u.s. says iran is enemy calling last night's attack on the troops a slap in the face. he has insisted the u.s. military forces should leave the region ashe called their presence, quote, a s

willem following the political noises out of there. are you beginning to think that perhaps too much bearishness is priced in at this point? people are coming around to the view that rating agencies will be expected to downgrade the credit and therefore it may be a buying opportunity >> i think btb spreads are too wide, and there's scope for them to rally they're trading wide to brazil, the italian credit is. it's getting close to the level of greece. i think italy is better than th that what the market is pricing in is a risk of italian exit in the near-term. so italy exiting the euro. i don't think there's any appetite in italy for that so there's opportunities in italian credit and fixed incomeful. >> political leaders say they will not budge on the budget, yet they have made some concessions. do you assume that there will be further alterations to their spending and borrowing plans if we see this continued pressure from financial markets >> i think they will start sending more positive signals. what set the market off wasn't so muc

willem is there in romania and has been monitoring the developments willem, my understanding is they'll be spelling out an agenda for the next five years, but, of course, with only a couple of weeks away from the european election, so how does that square off? >> it's an important issue that they will be discussing facing the entire european union is what happens in these elections and whether the dwo parties that have long been dominant inside the european parliament, including the european people party, whether they can maintain their dominance in face-off what has been a clear move amongst some countries towards pop lichl in terms of the electorate we're going to see over the course of today, i expect, conversations around what they hope to do over the next five years with the new commission as well as what they might try and do in the more near-term before the current commission under jean claude juncker one will be trying to strike a trade deal with the united states or at least reach some kind of skeletal agreement with the united states before the end of october when this current

willem is in rome. how is that, willem? >> it's interesting, actually. yesterday we spoke to one of the members of italian parliament foreign affairs committee, she's in matteo renzi's own party. she said she asked the government about russian interference in the election. it's something people have been talking about following allegations from the u.s. and france. one man who pushed back on that is a member of the five-star movement, he is also on the same foreign affairs committee. here's what he said about italy and russia. >> current role, no. i think that we have to reduce our economic investment in nato. nowadays we are spending 1.16% of our gdp. and it's something like 80 million euro per day. i think there are wealthier things to put this money. we have to review that and we think about what we are supporting nowadays. we are still in afghanistan, can you imagine that? after 16 years. if you look at afghanistan, things are worse than when we entered it after the taliban. so this means that this mission has failed. why are we still there? i could

i'm willem marx in london. these are your headlines falling out of fashion kering shares fall after missing second quarter estimates with lower sales in the united states. >>> vodafone stock is planning to spin off its european tire business and services beat forecasts in the first quarter. >>> amazon's second quarter misses on the bottom line as its profit streak comes to an end sending shares lower in extended trade. >>> don't miss our interview with renault's ceo as the french carmaker cuts its full-year sales guidance on a degradation in demand. >>> no clear direction so far in european markets after that key announcement from the ecb about forward guidance, the introduction of quantitative easing down the road and what seems to be an almost certain rate cut in september in terms of the individual markets across europe, though, you can see the four major indices in europe are trading slightly higher. the ftse 100 in london about a fifth of a percent higher. similar story in germany we have huge amount of ea

i'm julianna tatelbaum >> i'm willem marx the u.s. moves higher. president trump cancels his trip to the world economic forum in davos, he might miss an opportunity to discuss trade with china >> u.k. home builders jumped after bank of america, merrill lynch upgrades the sector from neutral to under perform >> chinese automaker tells cnbc it's not sold any shares in germany's daimler after a report the company had cut its stake by more than half >> federal reserve chairman jerome powell affirms the central bank's patient stance, but warns about the growing level of u.s. debt >> the the long run fiscal nonsustainability of the u.s. federal government isn't really something that plays into the next, you know, the sort of medium term that is relevant for our policy decisions >> european markets have been open now for just over an hour and it is shaping up to be a positive start to trade for the final day of the week. the euro stoxx 600 is up about 30 basis points right now. this follows a fairly mixed day yesterday in terms of the different regions, b

i'm willem marx. these are your headlines >>> italian stocks rally and bond yields fall as investors welcome the establishment of a coalition government. >>> european exporters rally as the block fights back against u.s. trade tariffs the eu says they will enact retaliatory measures >>> and mariano rajoy says he will not resign after socialist chief peter sanchez was put in power. >>> and deutsche bank says the bank's financial strength is beyond a doubt after the s&p cut its rating for deutsche's stock. if you look at our share price yesterday we are vulnerable for speculation. this is tough. sometimes this gets bumpy. by we have already quite a lot behind us, we know what we have in front of us we have a plan >>> some numbers out of italy. final gdp figures for the first quarter, it is as expected, 0.3. italy expecting a gdp of 1.4 for the year those new final q1 numbers at 0.3% this morning. also going to bring you more data on the eurozone manufacturing pmi data coming out at some point in the nex

i'm willem marx. >> i'm joumanna bercetche. these are your headlines this morning. >>> european equities search for direction after a torrid day for global markets that saw the dow plunge 800 points. >>> president trump slams the fed and blames jay powell for rising fears of a recession after the u.s. two-year and ten-year yield curve inverts. >>> chinese stocks rebound as trump links a trade deal with beijing to protests in hong kong and suggests a personal meeting with xi jinping to discuss the ongoing crisis >>> carlsberg shares are at a fresh all-time high after the beermaker reports strong first half growth in asia and smashes ebit expectations. we'll speak to the ceo at 11:00 cet. >>> some uk retail sales, not great, not terrible. up 0.2% for the month. up against june's number of 0.9% better than the expectation of negative 0.2 so they've increased july retail sales for the year up 3.3%. not quite as good as the june number of 3.8, but it is again better sthan tthan the expectedr the july retail sales 2 -- ex-fuel, 2.2%.

and that's it for today's show i'm johanna. >> and i'm willem marks. "worldwide exchange" is up next. 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. with up to twice the fresh scent power, you'll want to try it... ...again and again and maybe just one more time. indulge in irresistible freshness. febreze unstopables. breathe happy. >>> markets now. wall street looks to kick off the week in the green with the dow, nasdaq and s&p all sitting near record highs. >>> dialed in. why two major apple investors are calling on them to address iphone addiction among kids. >>> power and protest. the women of hollywood making their message loud and clear at last night's golden globe awards "worldwide exchange" begins right now.

i'm willem marx. >> i'm julianna tatelbaum. >> mike pence says the u.s. will no longer yield to china but hopes for a sweeping deal. >> the era of economic surrender is over. for too long, one administration or another, republican and democrat, were willing to accept extraordinary disadvantages to american workers and american jobs in the name of trade with china. >>> billionaire investor tells cnbc the fed is, quote, screwing savers and says donald trump is wrong to attack the central bank >> the president is doing a lot of damage with all of this assault of the fed i wrote down yesterday when the fed cut rates, i said consumer confidence is up, retail sales are strong, employment is strong, consumer network is at record levels. economy is growing at trend. >> aing negative rates delivers a contentious issue and warns about ultraloose policy. >> it is a strange thing it doesn't fit in any textbook i ever read. >> treasuries trading negative is the most absurd thing treasury has ever done >> sterling hits a two-month high after juncker says a brexit deal

willem, how much have events limited the government's room for maneuver >> reporter: certainly, janelle la, what it's done is take control away from the timetable. this amendment that passed with 17 conservative votes in favor of it yesterday essentially limits the time available to the prime minister and their advisors to come back if the vote next week goes against us with an alternative plan originally it was going to be 21 days, the utmost limit now it's three days of parliament sat in the house of commons behind me. to make sense of why that may or may not be significant, i'm joined by georgeanna wright. with that amendment put forward passing the house yesterday, why does that matter >> it matters because it gives parliament and greater role. essentially the message from parliament is we don't trust you. we don't trust that you're going to be able to deliver a plan and actually we're running out of time and, therefore, you need to present something within three days and we might have a week of parliamentary hearings and discussions, but you need to get your act together. >> the br

we have the wto ruling that we'll talk about in a little while from brussels when we speak to willem. banks recovering somewhat up about half a percentage point as well we are seeing some of the cyclicals do well this morning but of course the trade sensitive sectors are underperforming. >>> now, chicago fed president charles evans told cnbc market injections are a useful tool coming at a challenging time and he's open minded about the path of interest rates. you just spoke with mr. evans. what would you say are some of the highlights of that interview. >> well, actually we started off to talk about repo rates and the reasons behind them are not entirely clear as of yet i mean, loads of people are siting technical reasons, and that is what i asked him as well, what his explanation is actually for that very unusual volatility in the repo markets whand the fed is planning remedying potential spike again in the future. take a listen. >> the new york fed put together a very strong program to offer repos daily, offer term repos over the quarter end and i think it's effective i think this i

willem, really interesting give a little insight. it's all chatham house rules here i can tell you that my next guest says lawrence boon just gave a presentation to the great and good of amber springing forward. actually, she got a really strong applause for the message she was talking about now. we're not going to detail what she said safe to say, the man who told me that she went down very well here former italian prime minister, of course, and dean of sciences at the university, so thank you very much, indeed, for joining us >> thank you >> the message i got from lawrence boone was there are deep structural issues, there are disparties between the north and the south of the country stark as ever. long before the financial crisis and that there are lots of things to worry about as far as it is concerned as well. do you share those concerns. good morning to you. >> yes there's a big problem for italy and the big problem for italy is a lack of investment the deterioration of the public finance situation, so i think it's a warrant sit

i think willem has more. >> dialogue semiconductor one of those shares it posted a 2% rise in fourth quarter operating profit and expects to fall in 2019. the angelo-german chip maker posts a single dip after it reduces its exposure to apple, which makes up about three-quarters of its revenue. when the company made the agreement in october, dialogue predicted 2019 revenues would be flat shares have rallied as analysts shared the company's evolving business model >>> life insurance legal in general has posted a 10% rise. it cited record annual sales of annuiti annuities. earlier this morning ceo nigel wilson told cnbc that investors are too focused on short-term results. >> we've taken the view that we will invest for growth i think too many people still focus on short-term earnings, particularly quarterly earnings. we're trying to discourage companies from doing that. you know, we would like if we dropped quarterly earnings reporting for all companies, both here and in the united states, because it will just make everybody think much more about the longer term and as long-term invest

should be out any second now in the meantime, out to willem marx who is still in brussels. what would you expect from that statement? >> we've already seen something write than we just had come through from the government talking about the fact that they will be starting the administrative procedures involved in article 155. that will then be down to the various parties to decide on what the measures are. they will have a cabinet meeting this weekend led by rajoy who we expect in brussels later today i'm joined by a member of the erc, one of the oldest cat lane movements, pro-independence movements. you have seen this statement now. what's your reaction to it >> we're asking for dialogue, for a chance for negotiations, even mediation, what we get as a response is more threats the implementation of article 155 for the first time ever, that might imply the suspension of our government. that's not what we expected -- >> not what you expected or what you expect the >> no, we made room for dialogue, not threats. >> but one of the criticisms of puigdemont over the last week in pa

i'm willem marx. shares of atlantia shares drop sharply. >>> infrastructure strokes across europe are also hurt as the italian government warns it could renationalize motorways. >>> carlsberg beats on second quarter earnings and ups its full-year outlook on the back of strong beer sales across all major markets. >>> and henkel opens sharply lore after cutting its full-year outlook. rising raw material costs will weigh on earnings. >>> fresh information from the norwegian central bank, they will keep rates unchanged. there were no new signals expected after the meeting, but after a series of mixed numbers since the last meeting in june, this is not a surprise to many analysts foreinflati core inflation was out in july, and they expect rate hikes in september, but for now no fresh signals. >>> atlantia opened sharply lore dragging down the ftse mib they have hit back at the government after a threat from giuseppe conte to cancel concessions. the operator has been blamed for the collapse of a bridge in g

let's get out to willem marx in malta. we're less than 24 hours into the start of the official brexit negotiations between the eu and uk, already we're hearing a war of words when it comes to the brexit bill and security. absolutely. forgive me for the bad sound behind me. theresa may tried so hard -- i will wait for that to finish. there will be one more bell. all right. we're all set. theresa may tried so hard to to give a positive spin yesterday. both to the house of commons and the europeans listening to her letter, but if you listened between the lines, you heard an implicit threat and it goes to show how important messages will be over the next two years of negotiations. both sides will be playing to their own individual constituencies. theresa may will have to face down some brexiters in her party, keep the party happy with the concession she'll have to make to strike a deal. europeans with elections concerned about not giving too much away to the uk. here in malta, we have seven europeans heads of states, donald tu

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i'm willem marx. these are your headlines in london trade tensions hit european markets. >>> oil prices slip after beijing warns it could reduce u.s. energy imports. >>> angela merkel is poised for showdown talks with her sister csu party which says it intends to send a strong signal. >>> and cybg creates the sixth largest bank buying assets >>> welcome to the show this morning, everybody you can see on the board here that the european market is not off to a particularly strong start. the stock 600 is currently down 2/5 of 1% in terms of the specific sectors driving that number, you can see all four of the major equities here in europe all in the red. you've got the ftse 100 down 1%. xetra dax down 2%. the ftse mib is down 4/5 of 1% take a look at the sectors behind those numbers you can see the insurance sector and telephones down. the bank sector down 1/10 of 1%. oil and gas is also down a lot to watch a they're performing too well in europe so far. relationships are hard one minute you're cozying u

i'm willem marx in london. the tech wreck spreads to europe with the sector at its lowest level in almost two years after a "wall street journal" report that apple has cut production orders for its newest iphone models. >>> renault shows drive lower for a second day after bruno lemaire says carlos ghosn is not fit to lead the carmaker amid allegations of personal misconduct. >>> and deutsche bank shares slump to a fresh record low after the german lender once more acknowledges its role as a correspondent bank for scandal-hit gdansk >>> and theresa may promises to pursue her brexit deal as the dup votes against a series of budget measures and warns the prime minister to stick to her side of the bargain. >>> good morning it's been a negative start to the day for european equity markets. the stoxx 600 is down more than 0.4% if we examine some of the underlying markets, those four are trading in the red the ftse 100 down more than a half percent the dax down 1.25% in paris, the cac 40 trading almost 1% lower. in it