hello, good morning and welcome to "worldwide exchange." i'm wilfred frost. government policy rather ceo socgen tells cnbc he trusts the ecb to defend growth. >> he will do what he feels needs to be done to sustain that in europe. siemens misses earn eggs

forecast, hurt by charges for wind turbines. the ceo tells cnbc there are some clouds on the horizon for the german economy. >> the level of industrialization is very high. but then again, we do see some slowdown and we will -- for this one. >> weakness at europe's core ramps up pressure on mario draghi ahead of the central bank meeting while the bank of england looks set to hold steady. and a strong performance in the u.s. market gives astrazeneca sales a shot in the arm as the drug sales raises its full year forecast. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. welcome to the show. let's have a look in in european markets. as you can see, there is more reds than there is green. the stoxx 600 is down 0.44% so

far in today's trade. let's look at the individual markets, try and work out why they're down. yesterday, european markets were pretty strong. and why was that? well, there wasn't any specific data. it was more off the back of positive sentiment when we got a clear result in the u.s. elections. unsurprising given the lack of fundamental reasons for yesterday's strength in european markets, but today we are in the red particularly when you add the uncertainty when we have ahead of the ecb meeting later today. red across the board for the indices in europe. germany down 0.25%. france 0.4% and italy a little bit more than 0.5%. let's dive into some of the individual stock moves. adidas jumping to the top of the german market after the sports wear giant reported earnings in line with expectations. stock is up 4.2%. astrazeneca has raised its full

year forecast for the second quarter in a row saying it was boosted by dlaig delays in u.s. generic nexium. more news to come this morning having passed ecb stress tests this month, the german bank has passed the stress test. it is fractionally up in the green, at least. over in france, the ceo of credit agricole had a lack of appearance in earnings call. a trend which is offset by strong performance at its insurance and asset management arm. credit agricole is down 4%. meanwhile, socgen down 2.5%. now, stephane joins us with more from paris. stephane. >> morning, will. the comments from credit

agricole came as a surprise this morning. let's use the bank as being straightforward when it comes to fritz. credit agricole wants a clear vision and the lack of clearance in the french economic policy is weighing on confidence and it's having an economic investment on economic activity. the french market is crucial for credit agricole since the bank massively divested in europe for the last few years. it's facing a significant decline, down 10% for the revenue of its french retail network in the third quarter and down 15% overall for its lcl network. it's another bank which belongs to credit agricole. same concerns for credit agricole. not only, the bank suffers from a new regulatory frame in france which limits the level of banking fees for the retail

network. investors are reacting to this weak performance for societe generale. stronger than expected net profits at a group level for the third quarter. i caught up with the deputy ceo of the bank and he remains confident for the end of this year. >> globally speaking, we don't anticipate major changes in the environment for the next period of time. we see, for example, rich credit demand. that's positive. that's not what we expect for the next period of time. an increase, it was in a good situation today.

>> and back to the french economic policy, tonight the president francois hollande will give an interview on ts1, the largest commercial channel in france is widely expected to explain the competition. that being said, will, you've seen the forecast for the french market growth in the next thee years. earlier this week, the european commission flashed its gdp growth target for france for 2014, '15 and '16. that is lip service, to be honest. >> stephane, thank you very much. siemens is up 1%. charges for turbines took the

winds out of the industrial giant's earnings but it is up despite that. problems at the unit over-shadowed the target for industrial profit margins. news the group will sell its hearing aid division for 2.5 billion euros. reports came in weaker than expected. earlier, the siemens ceo spoke first to cnbc and responded to a slowdown in home markets. >> germany still has some because the level of industrialization is very high. the automotive unit is still very strong. but, again, we see some slowdown and we will need to act based on this one and put more emphasis into areas which have up side in economic growth. >> now, the long vote has overcome a shrinking pcb market.

the world's largest pcmaker saw income rise by 19%. it announced jerry yang has joined the board. hong kong's fourth quarter profit rose but revenues continue to weigh on the championshipmaker. the company is warning royalties could hurt its china business next year. the company disclosing new probes in the u.s. and europe over the potential breach of light terms and rebates. shares fell 6% in after hours. in frankfurt, they are down pretty much the same a.r.m. amount, down about 6%. seema joins us live from the webb summit in deb lynn. seema, how are you doing this morning 12347. >> hey, wilfred, i'm great.

how are you? we've been hearing from the likes of amazon which disapointsed the street. but the stocks fell after that. qualcomm, the semi conductor space in general has been a challenging environment for them as they look for ways to penetrate apple among other companies with their chips. the question is, of course, qualcomm citing uncertainty in china as one of the reasons their earnings came in with disappointing guidance, as well. we've been speaking to more entrepreneurs and investors, but they're hoping to one day be the qualcomms of the world. that would be something that we would post to entrepreneurs out here. in terms of the tech in general, we've been focusing a lot on social media, as well, wilfred. we've been talking about the highly competitive industry of social media, especially when you look at facebook versus twitter. facebook, the big outperforms up 35% this year whereas twitter hasn't had the same run. we spoke to wayne chang, the

head of the user and developer experience at twitter about what he's doing to help boost earnings at twitter and also what the rollout of fabric, their development platform, will do to twitter. hear him out. >> what we care about is that -- that means that we care about putting that first so we show them the line number that caused the crash and we power ought of that. the actual process, all those reports. where we can -- users by their phone number. we don't try to do anything that -- and the way we set it up is each of the different tellers crash, whether it's both sides, five different policies so they

don't -- each other. >> do you think fabric is a new source of revenue for twitter? if so, how much? >> it's actually interesting. with the exception of mobile, we call it supreme plus where you actually get paid to use that platform. >> but at some point, is there some type of advertising monetization that could take place with fabric and what it's tried to achieve? >> yeah. it's all optional. the developer says they just put that in examine that they actually want to do advertisement from twitter would get a small slight of that, as want. but, again, it's all optional. and let's talk about user growth, as well. what are you doing to help boost twitter growth which has been a concern for some analysts out there? >> yeah.

for us, the way that we see it is how many apps are we in, how many are we helping? and so with the way that we count the growth areas through those metrics, it's the actual twitter through numbers. >> analysts say one of the challenges facing twitter is the fact that it hasn't gone mainstream yet. for example, my mom isn't using twitter, but she is using facebook. what do you think twitter needs to do to appeal to the massive? >> that's one of those things that we're working hard on every day. growth is our number one concern, as well. right now we're trying to figure out how to make it easier. >> but what are the features that you're offering developers, does that trend to user growth? >> it does. it's different. once you put in the share content on twitter, then they can use the twitter kit and then they can allow customers will allow users to get on to twitter through their own app without using the twitter app. >> messaging has been seen as a

source of opportunity for a lot of social media companies, facebook buying whatsapp. is messaging seen as a source of opportunity for twitter from your perspective? >> opportunity b for us, we're working hard on solving the highest impact problems one at a time. >> now, we will be speaking to others in the tech world about the challenging environment. those interviews coming up over the next two hours. wilfred. >> seema, thank you very much for that. indeed, stay tuned throughout the show for more from both webb summit and me here in london. we'll be back in a couple of minutes. from fashion retailers to healthcare providers, jewelers to sporting good stores, we provide financing solutions for all sorts of businesses. banking. loyalty. analytics.

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welcome back. let's give you an update on what bonds are doing. the deals that did just pick up a little bit yesterday. we had a bit of risk on when the results of the midterms were out. bond prices came off, yields picked up. but everything settled down by the end of the day. that's broadly where we are at the moment for the day. 0.8% on the ten year in germany and 2.25% on the ten-year in the

uk. i.e., historically low yields, but higher than we were about a month or so ago. forex, the dollar has paused for a breath today after a strong day yesterday. this is quite interesting. the structural arguments for the dollar are perhaps stronger than ever, what with the increasingly divergent monetary policy across the world. but the last six to eight weeks have been the only wave up trend of the u.s. dollar just put on pause. so a reminder it has moved significantly this year. now, amid ongoing growth concerns for the eurozone's largest economy, pressure is mounting on president mario draghi to act. today's meeting comes on the heels of a report that several ecb council men are unhappy about draghi's comments on

increasing the size of his balance sheet by up to $1 trillion euros. draghi met with his peers in a formal workings last night, which national central bankers were expected to air their concerns. annette joins us from frankfurt with more on the story. annette. >> hey. it's quite known there is a risk between central grns and the bundes bank was against qe and the abs. they were quite vocal about that. but, of course, now the new allegations are that mario draghi's management style is dominant, to say the least. you're an expert on management, i guess. what do you think, is mario draghi overly dominant or does he do a good job?

>> i think his management style is the actual situation. he has so many different interests of diversing national banks. i think he's doing the right management in this situation. >> looking at all that discussion around qeo an extended abs program, do you think it's really needed right now? >> obviously, it's clear that with pure interest policy right now, we have notified a solution. so we need further steps. if we need qe, i think probably qe makes sense, especially the program that is planning or buying in equities in the future. liquidity actions are done so far. >> to get that clear qe meaning buying sovereign bonds, some analysts who are expecting that to happen in the first quarter next year. >> so in general, if the ecb

wants to reach the target, they have to increase the balance sheet for 1 billion of euros. i think it's obviously clear that they will discuss the question about sovereign bonds. first of all, we will not be able to fill this gap, only with asset backed securities coming up on bonds to corporate bonds. >> so would you say that we will see qe in the next year following your reasoning? >> from my perspective, yes, i think we will see that. >> looking at the eurozone economy, mario draghi, i think, made it pretty clear on various occasion that's there are limitations to monetary policy. would you say that actually we are now at the -- at -- well, we are now already in a place where monetary policy can't really do a lot more? >> few monetary policy i think is reaching the end of the solutions. we need also now to decide

monetary policy. we need also now serious steps from politics because we also have accommodation of the european banking sector. so we have to make at banks to do their works and do lending business. but only with monetary policy that cannot work. >> thank you very much. you mean, you see the mantra of mario draghi that the ball is clearly now in the court of european policymakers will most likely beery it rated. so what is needed are structural reforms in countries such as italy and france who are now at the core of the problem in the eurozone. with that, back to you. >> annette, thank you very much. a tallan bank monte depasco says it will raise monies. the bank shares jump shortly after announcement as it closed

2 is% down, lower when it emerged it was the worst performer in the ecb stress tests a couple of weeks ago. as you can see, it's down about 30% and down 1.2% today. now, president obama says he got the message from voters that it's his responsibility to break the gridlock in washington. at a news conference on wednesday, the president said he spoke with mitch mcconnell who is poised to become the majority leader and house speaker john boehner. he says he looks forward to working together over the next two years. mcconnell says he believes the president is interested in moving forward on trade agreements and tax reform. >> it's time for us to take care of business. there are things this country has to do that can't wait another two years or another four years. there are plans this country has to put in place for our future. and the truth is i'm optimistic about our future. >> the gridlock and dysfunction can be ended.

it can be ended by having a senate that actually works. >> president obama will meet with congressional leaders with both parties at the white house on friday. now, your next amazon purchase could be delivered to your doorstep by a taxi. the online retailer has been testing taxi delivery this fall using the flywheel mobile app. amazon loaded cabs to as many of ten packages in one neighborhood paying about $5 per person for delivery. and internet security firms paolo alto network says it's discovered a new type of environment that's infected apple iphones, ipads and wireless computers. it can signal third party apps on ios devices and hop from iphones and ipads to a usb cable. it appears the device originated

in china and has largely affected users in that country. there is no evidence that it suggests anything other than user contact lists. if you want to join the conversation here on "worldwide exchange," get in touch with us, worldwide@cnbc.com and @cnbcwex. still to come on the show, head of the bank of england decision, we break the latest data. that's straight after this short break.

european markets fell. the french banks among the biggest losers. credit agricole lashes out against government policy while the ceo of socgen tells cnbc he trusts the ecb to defend growth. >> he will do what he needs to do, needs to be done to sustain the halt in europe. >> siemens misses earnings forecast hurt by charges to wind turbines.

>> germany is still very strong because of the level of industrialization is very high. but then again, we see some slowdown and we will -- based on this one. >> weakness in europe ramps up pressure on mario draghi while the bank of england looks set to hold rates steady. and sa strong performance in the u.s. market gives astrazeneca a shot in the arm full year raises its revenue forecasts. >> the bank of england is set to announce the latest decision on interest rates at noon local time. that's 1300 cet. it's widely expected they will vote to keep the rate unchanged at an all-time low of 0.5%. reports suggest monetary policy will wait until after the general election as difficulties

continue to loom large over britain's economy. joining us on set now is helia even ebrahimi. overall, let's shep back over those numbers. growth is slowing, but it's still above trend. unemployment numbers have been very good. no. remember, next week we have the bank of england's inflation report. it sets out how the bank is doing that. last time it increased its forecast for the year to 3.4%. so we'll be interested to see what its projections for growth are. we'll be interested to see what its projections in the economy is. one of their head winds for the uk is the conundrum about productivity and wage inflation.

and the bank really hasn't got to grips with what's going on. in fact, no economist really knows. the projection for how much slack there was in the economy came down in august, so we'll be watching out next week to see what they say about where they think it is now. but remember, this is a country that, as you said, is humming along very nicely in economic terms. the issue is that policymakers these days feel vulnerable to head winds, head winds such as eurozone, deflation and headwinds such as geopolitical risks and, of course, don't forget the indebtedness of the uk households as well as the government. so this a lot of people that woe at risk if interest rates go up. >> and we're just getting through the industrial data for the month of september. it is forecast month on month to

come in at 0.4% and it has come in at 0.6%. it was forecast to come in plus 1.6% year on year, but it's come in at plus 1.5%. so slightly stronger than expected on the month, fractionally weaker than expected on the year. sterling/dollar, 1.5977. it is flat on the day. it was, indeed, flat on the day just before this data came out trading middle of the session for the trading session overall. this industrial production data overall is not really moving the currency markets. the manufacturing and we had some manufacturing data earlier in the week broadly strong in line with expectations. >> we've had a lot of data this week, which is kind of how the uk economy is. so you're right, manufacturing was better than expected. services, which is very important for the uk economy is really just a successful day. so that's been a worry for

people. but i think most economists still have their forecast around the 3.2%, 3.3% for this year. >> helia, thank you very much for joaning me now. stay tuned to cnbc today, we'll bring you a central bank special hosted by louisa and hellan from 12:00 to 2:00 cet. >> capgemini has reported first quarter organic revenue growth of 2.8%. this despite a challenging landscape in europe. the french i.t. condition confirmed its guidance revenue growth of between 2% and 4%. as you can see, it's trading up 2.4%. overthe course of the year, it's up about 9%. joining us now, aiyman. thank you very much for joining

us this morning. >> thank you for having me. >> well done and a decent set of results. you said the situation in europe is uninspiring at the moment, but you still expect to hit your growth targets and indeed boost the margin next year. what's allowing you to do that despite the situation in europe? >>. >> we have been able to achieve double digit organic growth rate. we also have a healthy business in the uk. and in europe, it's we have weakness in france but we see strong recovery in germany, even with very good growth rates in italy and back to growth in spain, which was a good surprise if we need to confirm the next quarter.

>> you said the uk is doing well, but i read you are going to lose an important contract here in the uk that represents around 9% of revenue. can you give us an update on that contract? >> yes. this contract is up for renewal in 2017. of course, was need to go up for renewal, the contract is some concerns. we might win some, we might lose some. but we believe our track record and the quality of service has been provided and recognized. in the recent public hearing, we have positive that we will renew a good part of the contract. >> as we talk about head count overall for the region, which area is it rising and which area is it falling? >> india, we continue to increase delivery that's happened from the global delivery centers. india and china and morocco and argentina and some others.

so growth is in offshore countries, about 15% growth. we tend to be flattish. typically north america which is growth a little bit, but it's been pretty much flat. and that's a continuing trend. >> indeed. and we've been focused on internet all week. let's talk about your partnership with next week and it's a large cloud based back off support and smaller companies and start-ups. >> well, it's coming. we are able to team up to create new business value for our customers. and we start planning up some new customer necessary this area

but, of course, he this will be a growing business trend. but it is definitely one of the big growth areas. >> what sectors are you going to be targeting with that and what exactly can you -- customers together? some elements on that, unfortunately, on the specifically. >> not to worry. i suppose stepping back, if the french government came to you for advice on the best plan o attack to get the economy going again, what advice would you be giving them? >> that they haven't -- definitely, i think some of the trends currently going if terms of being able to make the labor market more flexible and to be

able to continue to focus on the innovation in the country, there is a very good set of engineers, to be able to hep finance some of the start-ups and the growth of the french economy. and what we need is to make the market much more flexible and especially as a start-up to continue to stay in france and grow in france. >> do those forms need more loose policy from mr. draghi? >> i has happened i would say in the uk and the uk and in japan, it has to be able to fuel some of the growth in the economy. i do think within 20 on 00, the fiscal policies and the monetary policies in europe and we need to be able to fuel some of the

growth and investment that people need to make. >> thank you very much. cfo at capgemini nigh. hundreds of companies, including pepsi and oig have secured secret deals with luxembourg that allows them to reduce their tax burden, according to results. these show how the country's officials corporate structure allowing companies to filter billions of dollars through the tiny country while maintaining a minimal presence. also in luxembourg, a company closely associated with the disgraced imf leader strauss-kahn has gone bust following financial irregular layerties. the former french presidential hopeful is keen to rehabilitate his standing. now, economic indicators for

september suggest things may be looking up for the japanese economy. we have the story live from tokyo. >> thank you, wilfred. preliminary composite index which relates the currency of the economy rose 1.4% from october and the index for future economic conditions increased climbing 1.2%. now, the indicators for the july/september period are important because prime minister abe will base his decision on whether to go ahead with the 10% sales tax on these figures. and the positive data comes after sluggish numbers for august. in the bank of september's meeting minutes released today, there were hints the central bank was aware the economy has not been performing as hoped. the boj said it aim to avoid, quote, the risk that the conversion from a deflationary mind set which has so far been progressing steadily may be delays. as for the private sector economists, they appear upbeat.

economic growth has been slower than predicted. 10 out of 12 surveys say japan is ready for a tax hike. it was an annualized 1.9%. all eyes are on the preliminary results that will be announced on the 17th. back to you. >> thank you very much for that. do get in touch with us throughout the show. what questions do you need to ask of our guests coming up? the e-mail address is worldwide@cnbc.com or get in touch with me on twitter, spgs@wilfredfrost. astrazeneca shares are given a bit of a boost, but profits are still under the weather. our next guest will help us digest results after the break. we needed 30 new hires for our call center. i'm spending too much time hiring and not enough time in my kitchen. [ female announcer ] need to hire fast? go to ziprecruiter.com and post your job to over 30 of the web's leading job boards with a single click;

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welcome back. european markets are in the red today more because of uncertainty ahead of the ecb meeting than any news in particular. we also had quite a strong day in european markets yesterday, and that was really off the back of positivity relating to the u.s. midterm elections, rather than fundamental data in europe and unsurprisingly settling back a little bit today ahead of the ecb meeting.

the ftse 100 down 0.3%. germany is down 0.25% and france down about 0.45%. let's have a look at bonds, as well. it's more of the same for bonds. around about 2.33% on the u.s. ten-year treasury. we did see a slight pick up in the yield yesterday due to positivity surrounding the results of the election as bond prices fell back a little bit. but that settled by the end of the day and it's back to what we've had for the last few weeks, which is also meaning around just about 0.8% on the ten-year in germany and 2.25% on the ten-year in the uk. now, in forex, the u.s. is just giving up a bit of the -- that it gained yesterday. today just settling back a little bit, but nothing too significant. the euro/dollar has gained about 0.2%. 1.251. dollar/yen, 114.5. it's flat on the day. let's check in on asian markets. the most notable today is off

about best part of a%. it has three very strong days sips announcing the bank of japan surprise easing measures last friday. moving on, in the eastern ukrainian city of donetsk, tensions have heightened since the ballot was held last weekend. the west has acknowledged the outcome of the ballots. john kerry had a clear message for his russian counterpart. >> unlawful voting in eastern ukraine over the weekend is a blatant violation of ukrainian sovereignty. and president obama has been clear as have i during my conversations with foreign minister lavrov. in neither the united states nor the international community will recognize the results. >> meanwhile, stephane spoke to the deputy ceo of socgen off the bank of the bank aes earnings

and asked if the lender was concerned about the situation in russia. >> the situation in russia in items of geopolitics situation, i wouldn't count on that and the situation is a concern. on the maco economics side, we've seen, for example, in car financing activities, and the model appreciation has an impact. on the third quarter, we saw a rise, an increase in our presence. outstanding and our profit is positive in russia for the quarter.

we are monitoring the situation in a rather good situation. >> are you considering that societe generale will remain resilient in russia? >> we made a transformation of the russian generation in the last time and we are still under way to transform, for example, our regional macro activity in russia. so, yes, we are considering a difficult situation in russia. >> what is your outlook for the end of the year? >> globally speaking, we don't anticipate major changes in the environment for the next period of time.

certainly in terms of cost, we don't expect for the next period of time an increase in cost of risk. advanced understandcations were in a good situation today. >> daniel, it's great to have you with us. let's kick off with the astrazeneca results which on the headline look in line, but as we were just saying, relating to the drug nexium, it's possibly a boost. >> nexium will probably go at some point next year. but it gives a boost to the earnings lineup up to this point. >> and more importantly, you

think astrazeneca, and whether it can meet targets for the pipelines? >> i think right now, astra is innovation. the next big event for them is on the 18th of november with their r&d day. we expect more about the oncology pipeline, but will drugs in an earlier stage that we haven't heard much about yet. a. >> for years, people thought growth wasn't coming through. in general, is the sector going to -- with the pine line delivering? >> we think the pace of innovation is accelerating. not just in drugs, but medical devices, technology. and so we think approaching a period of major structural

change wnl health care the way it's managed and delivered, we have drugs that might start to cure diseases, not just treat the symptoms of them. >> and if you're talking about a theme, what is the best way to play that? >> well, you can play the big pharmas, but i would argue the biotechnology has become the engine of discovery. the best pharma companies have been very active on the business development front and have licensed drugs on the smaller companies. as an investor, there is probably less risk in earning an astrazeneca than a small cap stock. it depends on how much risk you want to take on, obviously. >> if smp is going to deliver that pipeline innovation, does that make the sector itself, those big names, attractive at the moment? >> the passing risk is now mind us. and the alleviation has listed

all votes. the question now is who is sitting in a rowing boat and who is in speed boat? who has the best pipeline and who is going to have the best earnings growth from 2015 to 2020? we're beginning to see a bit of a sorting appearing in the sector and you can see that in the multiples earnings from the stock. >> and let's move on to m&a. it does seem like now for m&a driving the sector is hold because of the tax inversion deals coming off in the u.s. in particular. is that a fair sum az that m&a is going to drop back now? >> i think that's true for the drug sector, but i don't think it's true for the broader sector. so i think some of the drug sector in m&a was driven by tax consideration and the treasury department has tried to knock that on the head.

>> emerging markets is a massive gap between emerging and developed markets. will that gap close? and what's the best way to play it? >> so i think emerging markets at the moment have not been great since investment in the last three years or any investment, actually. so i think as you see a company getting richer, once they've said that people house them, they start spending on education and health care. so what you're seeing in terms of gdp, most of europe is staying between gdp. so i think if there are different ways of playing that.

we also like to play local companies that sell locally because they tend to get down to that more domestic demand scenarios like hospitals or in distribution, job distribution or sometimes medical devices like that in the past. >> daniel, thank you very much for that. now, japanese air bagmakers, jakarta says it's taken a charge earlier this year. the company says it has yet to subsidize funds in preparation. kaori enjoji joins us from tokyo with more. >> thanks, wilfred. well, i think takata, the air bag manufacturer missed on two points today. first, there's the literal miss. this recall has been costly for them and as a result, they pushed into a net loss figure in the fist half of this year. but the other miss was this apology.

the cfo started the news conference with. it was about an apology not for making potentially defective air bags and not being able to kwix them quickly enough. but do use, apologizing for the trouble they've put customers and shareholders through. they say they haven't allocated funds at all, despite into the second half of this recall, despite expect ages that they're face something class action suits down the pipeline in the united states. and more surprisingly, they say the cfo says business has not been affected at all. now, it's pretty normal here in japan for executives and senior management to be kept away from crisis like this for as long as possible. but investors out there are betting that this worst is yet to come for takata. take a look at the share price, stock is down 15% since the start of this year. this is a massive recall involving 17 million cars over a

long stretch, 18 months. so coming in today, even on fairley basic issues, meaning the number of deaths involved in this recall. they say two, but they're aware that the media is reporting there have been four deaths. there are also very unclear as to when these customers were bringing in their recalled cars can get a fix on their tires. now, you also have to remember takata has the market cornered. i can they have about 52% of the global air bag business, which is a huge proportion. this news conference didn't give us much insight into this. the u.s. regulator has launched a probe and is demanding more detail on this recall process. honda seems to be in the hot seat because they have the most customers of the cars being recalled.

not a lot of hope out there for customers bringing their cars in. people say it might take until early next year because the parts aren't coming in. there just aren't enough suppliers out there to replace this critical component, wilfred. >> kaori, thank you very much for that update. the pboc has announced its central bank q3 monetary policy reforms. it has said it is reiterating it will take prudent monetary policy decisions, but does the increased downward pressure on the economy, and it confirmed it has made two liquidity projections to banks. it's maintaining stable, prudent policy but is dmimting it's not seeing any downward pressure on the economy. the authorities seem to be

willing to turn on the -- market going forward. so a little bit more of a rejection from the chinese central bank, but no clear signs of the size of that injection. now, do get in touch with us throughout the show. e-mail us, worldwide@cnbc.com or get in touch with us, on twittetwitter @cnbcw @cnbcwex. asian markets finished earlier in the day, only down fractionally with the nikkei down the most, 0.8%. still to come on the show, chipmaker qualcomm warns that china could hit the company with an anti-trust probe. we head over to dublin after the break. seema is standing by with details on that story. stay with us.

a very warm welcome to "worldwide exchange." i'm wilfred frost. new highs for the dow and the s&p. weakness at europe's core, ramps up pressure on mario draghi ahead of the central bank meeting while the bank of england looks set to hold rates steady. frarcench banks among the biggest losers in europe while the debt in ceo socgen tells

cnbc he trusts the ecb to defend growth. >> really, he will do what he needs to do, needs to be done, to sustain the -- for february in europe. >> it's a tale of two earnings reports. shares of qualcomm sink as the chipmaker warns of more investigations by regulators while rising demand for its model s sedan. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> u.s. futures, in fact, expected to open down, as you can see now. that follows strong gains, but perhaps unsurprising that we're having a little bit of a

pullback today. the dow is expected to open down about 27 points, the nasdaq opening down 9 points and the s&p opening down 5 points. red across the board, but why is it? not because of any fundamental weak data. similarly, off the back of u.s. midterm election webs unsurprising given there's a fundamental reason to push markets up and, of course, the ecb meeting is due in a few hours. the ftse 100 down 0.3%. similar amount for germany and france and italy off just a little bit more. so there's weakness, but not too much weakness. adidas shares jumping to the top of the market after the sports wear giant reported earnings in line with expectations.

that move is temporary, therefore, the shares are off 2.4%. there's a lack of coherence in policy during an economics call. another difficult quarter, a trend that has continued for a while. credit agricole is down 5.6%. socgen is down 2.34%. it's posted a 50 jump in net profits. meanwhile, siemens in the green. the best part of a present took the wind out of the sales overall for the fourth quarter for siemens. but earlier, the cnbc spoke to

the ceo and discussed opportunities in north america. >> we have about $20 billion u.s. with business in the united states, more than 60,000. so they've always been very clear with the markets. and as you can see, the reason on oil and gas to put that into the limelight of our actions. they have been able to make us turn our team in siemens and now located in houston. so it's the first managing port member outside germany. >> now let's look in at bonds. that's broadly where we've been for most of november thus far. we are slightly higher than where we were in the middle of

october. in germany, 0.83%. and in germany and the uk, 2.24%. we stepped back and i think it would take quite a bit of move to move them more significantly. having had a strong day and boosted, market currencies, they hate uncertainty, we've got certainty, we've got a republican congress. u.s. dollar/yen is at 1.445. that is flat on the day. cable ahead of the bank of england decision coming up later today, 1.5959. now, president obama says he's got the message from voters that it is his responsibility to break the gridlock in washington following the republican victory

at a midterm election. at a news conference on wednesday, the president said he spoke with mitch mcconnell and house speaker john boehner. he says he looks forward to working together over the next two years. mitch mcconnell says he believes the president is ready to move forward on tax reform and immigration. >> there are things this country has to do that can't wait another two years or four years. there are plans this country has to put in place for our future. and the truth is, i'm optimistic about our future. >> this gridlock and dysfunction can be ended. it can be ended by having a sneed senate that actually -- excuse me, that actually works. >> president obama will meet with congressional leaders of both parties at the white house on friday. now, joining us now from cnbc hq, ken kayman, president at acadia asset management. very good to see you this morning. you are optimistic for the third

quarter earnings because the third quarter earnings have been encouraging, i believe. but given the multiple expansion that we have had throughout last year and the first half of this year, surely the earnings growth we've seen so far this quarter was actually needed as opposed to being a positive surprise. >> that's a really interesting point. the market has been -- and companies continue to do well in earnings. we've seen during the quarter earnings are up roughly about 7.1% for the s&p, 500 so far. and to your point, you know, markets price in future actions, but i think we're going to continue to see earnings strong. so i wouldn't be all that concerned here. we did get a correction, a brief one, a brief in and october in october which gave some people an entry point back into these things at a better valuation. but things looking good because corporate profits are strong and continue to be and balance sheets are very strong.

that continues to be a very, very big story. the amount of cash on u.s. balance sheets is still recognized. >> ken, another big story as well as those two points, quantitative easing is over. you see the quantitative easing is dead and no longer part of the narrative. of course, it has ended and market have held up relatively well off the back of that. but surely we cannot discount it as a factor for markets for many, many months to know what the outcome is of its removal? >> well, that's a fair enough statement. but let me put it this way. for the last couple of years, what's going to happen to markets when qe ends, which they stell back and arrant stepping on all this volatility. it's ended and the markets are high. is it something we should keep our eye on?

absolutely. i don't see the style action fed coming anytime soon. but, you know, we have to watch as janet yellen says, it's very data dependent. we'll all keep an eye on the data. >> and were the dow and the s&p right to to close at all-time highs off the back of election result yesterday? >> were they right to? listen, i think one of the positives about having the elections behind us is all the negative ads that have been on tv and the united states for a very long time. because, unfortunately, political advertising is net what i'm doing right. it's what the other guy is doing wrong. so having it off is very positive in and of itself. markets hate uncertainty. you get in a situation where you're handicapping the race, here is what's going to happen after the election.

now we know. in t in the united states, a lot of the headlines coming out of washington will be about a pro business friendly. and that is -- you know, bodes well for the market xp. >> ken, since the last couple of days we've been discussing analysis despite what markets do off the back of election results. the causality in those points remains to be seen. but nonetheless, i love one of the factoids you send us, the biggest positive years for markets averaging 29.9% returns. we're all sorted for next year, then? >> well, first let's say that history does not mean anything about the future and i would call this a fun fact. i'm not sure it's tradeable, but it is an interesting anomaly.

years that have ended in a '5have been very, very strong years for the market and, in fact, there's never been a loser since the depression. if you're into pneumoniology, that's an interesting thing to look at. the markets average 8.9% 90% of the time. so, again, i caution anybody that past performance is not an indicator of future action. but it's the history that -- yeah, it's interesting we shouldn't really ignore it, let's put it that way. >> ken, some very enjoyable numeric factor at the end. some fundamental arguments earlier. thank you very much for joining us. let's give you a rundown of

what to watch this trading day. weekly jobless claims out at 8:30 a.m. eastern. forecasts to drop by 2000 to a total of 285,000. at 8:30, we get preliminary activity and labor costs. and aol and amc networks report before the bell. biocryst, newlink genetics and sarepta, wendy's we will hear from. after the close, we will hear from disney, king digital and lionsgate. let's take a look at the top stories in the u.s. so far today. qualcomm's fourth quarter profit rose 26%. revenues from its forecast as uncertainty in china continues to weigh on the chipmaker. the company is warning a probe in problems checking -- could hurt its china business next year. qualcomm faces more than a $1 billion fine from chinese regulators. shares fell 6% in after hours yesterday and it's down. we have a map in frankfurt today, 2 6.5% nonetheless in the

green other a five-month view. >> excludeing special items results beats forecast. the production of its new model x suv will be delayed by several months until the first quarter of next year. the ceo elon musk says the company can get all the details right of that suv. despite the setback, musk says nand for the model s is redding ahead of schedule. so far today, frankfurt is up 4%. cbs's third quarter results beat forecasts. ad revenue rose nearly 2% due to thursday night's nfl games related to the midterm elections. following the lead of rival hbo.

cbs rose 2% in after hours. it's up 2.5% in frankfurt so far today. now, rumors are swirling there is dissent in the ranks of the ecb. so will president mario draghi be forced to change his policy? we'll get a look ahead. i was ready to serve. i'd just gotten married. i was right out of school. my family's all military. you don't know what to expect. then suddenly you're there... in another world. i did my job. you do your best. i remember the faces... how everything mattered... so much more. my buddies... my country... everything... and everyone i loved... back home. ♪ [ male announcer ] for all who've served and all who serve, we can never thank them enough. ♪ sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities.

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welcome back to the headlines. the dow and s&p 500 closed add roshd highs. european investors strike a cautious tone ahead of the ecb rate decision later today. shares drop sharply high ner after hours. the company says demand is running ahead of schedule. ted if chair ben bernanke is weighing in on europe's debate ahead of the ecb decision today. annette is in frankfurt with the latest ahead of the ecb decision. annette. >> well, ben bernanke actually had to pay for arguing that there are legal and also political problems when it comes to qe. just as a reminder, berlin, the

german government and the bundes bank are adamant about the fact that they don't want to see qe, but it means that the central bank is going to buy sovereign debt. you know there is this theory that this could promote record high inflation because they are not over that -- at 90/20 when the country was rocked by super high inflation rates which then led to the second world war. another factor here, when we were talking about qe, if the eurozone is -- they're working totally different than the united states when it comes to their banking and capital market models. whereas in the states, qe might have worked because capital

markets are far more dominant than here in europe. that is channeled by the banks. as long as they don't fund right, there is nothing that can actually work properly in the economy. so what the ecb is intending to do is to fix the balance sheet of the banks by buying up their abs, etcetera. so that might be actually eurozone side qe, what we are sooi seeing right now already. with that, back to you. >> annette, thank you very much for that. still to come on "worldwide exchange," we cross to the webb summit in dublin after the break. ♪ introducing synchrony financial. bringing new meaning to the word, partnership. banking. loyalty. analytics.

synchrony financial. engage with us. you can bring back from a trip around the world. but you can't always bring back customer data. because many customers don't like it when their data moves around. can i go now? if you're going to do business globally, you need a cloud that can keep your data where it needs to be. today, there's a new way to work and it's made with ibm. what are you guys doing? yoga, it's supposed to make us more productive. better mind and body keeps us efficient. you guys have misread the memo. this is the new lenovo yoga with the intel core i5 vpro processor. it combines the productivity of an ultra book with the touch benefits of a tablet. and it's custom configured by cdw. so we can stop doing this? my head hurts.

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from fashion retailers to healthcare providers, jewelers to sporting good stores, we provide financing solutions for all sorts of businesses. banking. loyalty. analytics. synchrony financial. engage with us. let's cross over to seema in dublin at the webb summit who has a very good guest. >> absolutely, wilfred. we're joined by the chief operating officer of boss, dan levin. thanks so much for joining us. >> delighted to be here.

er. >> big picture, there aren't going to be corporate data centers in 20 years. every worker on the planet is going to need a solution. >> at what point do you think everyday consumers will be using the cloud and accessing it? >> evidence consumers are using the cloud now with icloud, services from google and microsoft. but it's really in business that we're seeing an explosion of value being created by cloud-based technology. >> growth, tell us about where you're growing and how that's going so far, especially with given the competitive landscape you have, players like amazon, ibm, microsoft all trying to strengthen their cloud platform. >> according to our numbers, revenue grew 91% in the first quarter. we've been delighted with the growth we're seeing globally and it's growing a little faster in the u.s. >> expenses are continuing to eat into your earnings.

is that going to change at all? >> you know, expenses are growing much more slowly than revenue. it's a percentage and we expect that trend to continue. >> your ceo recently said wall street doesn't understand box's business models. do you think that was the case? what was he referring to? >> you know, enterprise sass companies like zen desk and service, on a subscription model, we have fairley high acquisition costs, but customer lifetime profitability is very high. and it takes a different mind-set to think that through rather than a box or perpetual license software model. >> is that one of the reasons you think box is delaying its ipo, because its wants wall street and investors to understand the space before you go public? >> we think being a listed company, a public company as we americans would say would help us from a credibility and visibility point of view. when the market is ready and our company is ready, we'll take the company public. >> im spoke to aaron levy about

this, as well. but market volatility, how much are you keeping an eye on that in terms of assessing whether to go public? >> the most important thing for any company is to execute effectively, deliver great outcomes for our business, continue to grow our business. and when the time is right, the opportunity will be there. >> what about emerging markets right now? >> we have over a hundred people in our london office right now. europe is growing very quickly for us. i was just in our tokyo office where they're seeing exceptional opportunities, as well. >> if i or a company stores their data on the cloud, the concern is how safe is it? how secure is it? what is fox doing to ensure that it doesn't have to deal with any type of data breach in the future? >> cloud technology companies that live and die by data security, companies like salesforce.com and box, have to dedicate a huge amount of energy to security. we have one of the best security engineering teams in the world. and we do everything we can to keep our customers' data secure.

companies like general electric who are in the process of rolling out 300,000 seats of box trust us to keep their data safe. >> whether the regulatory force, the government should play a more proactive role in monitoring the data that technology companies are storing or especially customer data. what are your thoughts on that? >> according to snowden, the government is doing a good job monitoring our data. >> do you believe in that? do you think that's the right way to proceed? >> no. i think users around the world have an expectation of privacy. we inchrist all the data stored at rest and all the data intrinsic to our service. we think maintaining the sprieftsy of our commerce' data is the first and most important job that we have. >> dan levin, are we going to see an ipo before the end of the year? >> who knows. >> come back to us, though. >> absolutely. >> dan heavyin, thanks so much for your time and wilfred, back to you. >> seema, thank you very much

and stay tuned throughout the day. we have more coming up from the web summit in dublin. also coming up, we have speak to the ceo of yplan. still to come on the show, the countdown is on for the u.s. farms payroll number. we get a preview as we break down the private sector adp report.

a very warm welcome to "worldwide exchange." i'm wilfred frost and these are your headlines from around the world. european markets fail to track record gains in the u.s. yesterday where futures are now called to open lower after the dow and the s&p hit new highs. weakness at europe's core ramped up pressure on mario draghi while the bank of england looks set to keep rates on hold. the chief of credit agricole lashes out about government policy while socgen's ceo says

he trusts the ecb. >> clearly, he will do what he needs to do, needs to be done, to sustain the recovery in europe. >> it's a tale of two earnings reports. shares of qualcomm sink as the chipmaker warns more investigates of regulators while tesla soars on model regulation for its model s sedan. >> if you're just tuning in, a very warm welcome to "worldwide exchange." let's have a look at what u.s. markets are expected to do ahead of the open. as you can see, expected to open down. this follows record closes yesterday. and it was, in fact, the first time in more than 16 years yesterday that the dow, the s&p, the dow transports and utilities all closed at record highs on the same day. perhaps that's why we're seeing

a little bit of weakness ahead of the u.s. open today. the nasdaq is expected to open down 8 points. the s&p is expected to open down about 357 points and the dow expected to open down 23 points. let's look at the european markets. we have red here, as well. yesterday was a strong day in europe without any real reason for it and the uncertainty ahead of the ecb meeting. unspreesing therefore, that we've got a bit of weakness. not too serious weakness, but weakness nonetheless. france is down 0.4%. germany and the uk are down around 0.3/0.4%. weekly jobless claims are out at 8:30 eastern, forecast to drop by 2000 to a total of 285,000. also, 8:30, we get preliminary third quarter productivity and labor costs. now, the u.s. private sector added 230,000 jobs last month, meeting economists expectation. the report out wednesday by payroll processor adp comes

before the crucial month farm payrolls number on friday. joining us now is lindsay, chief economist at stern agey. despite the numbers for august, overall, we're seen as very clearly. that is that jobless environment in the u.s. is getting better. >> well, that's exactly right. headline job creation has been quite strengthy as of late. as we've seen the average pull up from the start of the year below 200,000 to up near 250,000 as of late. in the last eight months, we've seen seven of the last month push above that 200,000 mark. certainly a lot of optimism. we've had talk about this several times. it's not just the number of jobs we're creating here in the u.s., but quality of jobs. businesses continue to rely on flexible, low cost labor translating into temporary,

part-time and low wage hiring. >> and we've had a few other data releases. the ism manufacturing index results showed that the service industry in the u.s. continues to expand at the start of the fourth quarter. but the rate of activity did flow considerably. is that a concern or not? >> it certainly is. this highlights what we've seen in the consumer sector. what we've seen on a monthly basis is a lackluster income growth. here in the u.s., average hourly earnings have been stagnant since 2010. so consumers have relied on eating into savings, taking into additional credit and temporary rebrief from energy prices to supplement their spending patterns. of course, all of these are temporary supports. long-term growth will be predicated on the country's ability to create high wage jobs

and income pressure. >> and there was one other data that got released perhaps because of the midterm results. that is the trade widening. i suppose it highlights two factors replaced significantly in the u.s. at the moment and that is that the dollars is very strong and growth growth elsewhere is quite weak. how much of a headwind is it that factors externally are causing a bit of weakness? >> now, remember, the u.s. isn't heavily reliance on exports. certainly this will remove one of the supports that we have seen over the past several quarters. this is something that the federal reserve has warned against that continued sluggish growth abroad could translate into a higher exchange value for the dollar and putting downward pressure on overall inflation making it more difficult to reach that 2% target that the fed continues to reach for,

making it less likely that we see a near term increase in rates. >> lips sis, thank you very much for joining us. moving on, unit re is trading lower after just missing third quarter profit forecast and prediblthing third quarter earnings will fall from 2013 levels. the larmer insurer has suffered by a trend to keep risks on their own books rather than pass it on. on the phone with us now is dr. snyder. that itemses mainly from the re-insurance arm and the investment results in particular within that arm. i suppose low rates and increasingly tough environment is a difficult secretarier for you at the moment. >> good morning, yes. that is to some extent through,

but it's in my view only a temporary phenomenon. let me quickly comment on the quarterly numbers. these are given by derivative losses which come from our economic weighting of our portfolio which means there are many positive effects which do not reflect in the quarterly numbers. therefore, it is a good set of numbers for the nine months and for the three-month period. >> and you were able to rise, crease your guidance for the full year and that was in part due to lower disaster costs, which does surprise me a bit. weather conditions this year have been pretty good globally. >> this was due to a low level of insured natural catastrophes. so, for example, for the running quarter, the last quarter, they

were more than 5 percentage points of our premiums below the expected level and with that tail whipped, we increase our expectation for the full year that is quite clear. >> i suppose it's an interesting change intact. you noted a few months ago the number of weather related ka cast fees worldwide increased three fold in the period 1980 to 2013. so is today you're announcing a clear change in that or as you were saying, whether those natural disasters happen to be insured or not? >> it's purely random what we see at the moment. there is a clear trend of an increasing level of natural ka cast fees. and if you also think of the high concentration of values in zones which have enormous

natural paris, think of asia and of some other areas of the world, so the population mofts to cost and so does the industrial production and we are faced with a situation of very strong underinsurance on the worldwide basis. that means short-term there is pressure on our prices. there is a strong -- there is a strong capital supply, which means a sag nating demand. but in the midterm, demand will increase and i assume ta there will be plenty of opportunities to make very good profits out of innovative products here. >> thank you very much for joining us today. much protected, jorg snyder, cfo of munich re. the wind was taken out of fourth quarter earnings for siemens. the group will sell its hearing

aid division to a private equity firm for $2.15 billion euros. shares are up despite some of those headwinds. earlier our colleagues on "squawk box" europe asked whether the u.s. was presenting opportunities to offset slower growth in europe. >> we have about 20 billion u.s. dollars on business in the united states powered by more than 60,000 employees. who have always been very clear that there is an important market for us. as you can see, this put us into the lime line of our actions. these have been able to recently make us join our managing team is now located in houston. so it's the first managing port member outside germany. so you can clearly see this is

where we put decision power to the united states. up next, we go behind the wheel at tesla. shares after the cowermaker sore despite a set back over its long awaited suv. great rates and safety working in harmony. open an optimizer plus account from synchrony bank. service. security. savings. synchrony bank engage with us.

from fashion retailers to healthcare providers, jewelers to sporting good stores, we provide financing solutions for all sorts of businesses. banking. loyalty. analytics. synchrony financial. engage with us.

qualcomm's fourth quarter profits rose to 22%. revenues miss forecasts and china continues to weigh on the chipmaker. the company is warning an anti-trust program and problems collecting royalties could hurt its business next year. shares fell 6% in after hours trade. they're down the best part of 7% now in frankfurt. there was a mix of good and bad news in the latest earnings report from tesla motors. there bertha coombs joins us from cnbc hq with more on the story. good morning, bertha. >> good morning. tesla's third quarter profits doubled offset, rising demand for its model s demand. demand a key word here. earnings beat forecasts and revenues doubled. the company delivered nearly 7800 vehicles slightly less than expected. that was due to a scheduled

shutdown in july. tesla expects to build 35,000 models this year and deliver 33,000. on the conference call, the ceo dismissed concerned demand for the model s has reached a ceiling. he says demand is not our issue. production is our issue. tesla's thinker quarter revenue was boosted by sales of environmental credits, most coming in the form of california's zero emission vehicle credits, which the company sells to other manufacturers so they can meet state regulations. tesla is delaying production again on its next vehicle by several months until the third quarter of next year. the model x was originally supposed to be launched in 2013. but it has delayed production. musk is trying to put a positive spin on the delay. he says people don't appreciate how hard it is to manufacture

something. tesla does expect to begin product at its battery gig da factory in nevada in 2016 a year ahead of schedule, at least if they're on time. the batteries are essential to plans to launch a mass market vehicle capable of producing deliveries to have vehicles by 2020. today in frank first, it is up about 4%. and elon musk seems to know just how to talk to wall street, doesn't he? >> that is does, bertha. thanks for that update. moving on, cbs third quarter results beat forecasts. cbs plans to launch a streaming service for its show time pay cable channel next year, following the lead of rival hbo.

cbs is up 2.5% in frankfurt so far today. add revolutionary knew fell, but the company was able to offset that. high subscription prices drove gains at the "wall street journal" and the times of london. now, as we head to break, let's remind you of the headlines. u.s. futures point to the down side. and european investors strike a cautious tone ahead of the ecb rate decision later today. but tesla shares drop after hours as the company says its demand for its sedan is running at capacity.

welcome back. let's have a look at european markets. we're in the red. we're not in the red too significantly, though. why are we in the red? there's uncertainty ahead of the ecb meeting. we had a strong day of european market yesterday with no real reason for it. we just pulled back a bit today. italy is down 0.5%. france is down 0.3%. germany, just below flat and the ftse 100 is down 0.3%. let's have a look at u.s. futures, which are also in the red. u.s. markets weren't that strong yesterday, but they did hit new highs. in fact, it was the first time in more than 16 years that the dow, the s&p, the dow transports and utilities all close at record highs on the same day. therefore, not surprising we're expecting weakness ahead of the open. the nasdaq is expected to open down about 6 points. the s&p expected to open down about 2 points and the dow expected to open down about 70 points. now, in markets like this, how

do we make money? well, this is what the experts have been telling us so far today. >> this change is happening in the oil market at this point with shale, not just the recovery of production, which is putting huge pressure on the physical market at the time of weak demand. also, we need to think about where oil price on the long end of the worker is going to go. because after a decade of double digit cost inflation, we think we are starting in deflationary period with costs coming down across the chain. >> own it, interest it, position in it, and some of the sales numbers are not too bad. but, you know, some of the trends there are still very, very negative.

>> the numbers? pretty good. they passed the stress test, aqr, whether you find this credible enough. at the end of the day, they are, you know, like directions, 50% is down to nav, you'll probably see shares up today. >> why plan is an app that allows users to find event tickets to an event in their city. it helps those who aren't great at planning ahead to find something to do in london, new york city, las vegas and san francisco. let's cross over to seema standing by to interview the ceo. >> thanks, wilfred. we're joined by the ceo and founder of yplan. thanks so much for joining us. >> thanks for having me. >> tell me how this works. it's friday night, i get out of

work at 8:00 p.m. i don't have plans. i log on to yplan. if you have a question about what to do tonight, your answer for that is yplan. it's a short list of events of what's happening in your city. find the one you like, two taps, you bought and you're going. maybe ice-skating for tonight, maybe silent disco or maybe you want to see sam smith playing tonight. that's what you want to do on yplan on a typical thursday night. >> what do you have to do to ensure that you're offering exciting events and experience for you're users? >> we have work hard and have a dedicated plan of teams at occur raters. it's people who spend all their life in theater, music and broader entertainment picking and creating experiences and events that we're going to cure rate and showcase to our customers. every event you see is two taps. you sitting on your couch and watching tv, you being at a

great event tonight, that's what separates you. >> you got the attention of some of the high profile investors from the media world. why do you think these people are so interested in investing in yplan? >> so in these specific xarms, ashton became a user of the app. once you've gone out with that a couple of times, you don't want anything else to answer the question for you about what is to do tonight. they became involved as investors and advisers, as well, which is truly the biggest compliment you can get as a founder of the company. >> how do you make money then? >> yplan is a two-sided marketplace. we are an app for the consumer and we're a distribution channel for the business side of the business, right? event organizers, promoters, producers, including owners,

etcetera, every time you do that, we take a transaction fee or a commission, if you will, for an event organizer. meanwhile, the event organizer benefits from the fact that you are by definition a new customer. you found what you were going to do tonight on yplan, you bought it and you came. 95% of our customers who buy on yplan, they would not have gone to the event if it had not been for yplan. >> you're a london based start up. you're growing in the u.s. i just moved from new york to london just about a couple of months ago partnership never heard of yplan. when did that take place? >> we launched just under two years ago in london. so in three, four weeks time. then we added new york last year. >> then san francisco,

edinburgh, and eats expanding adding more breadth. >> wilfred, if you don't have plans tonight, that might be one app to check out. back to you. >> well, seema, thanks very much for that. it's the last day joining us at wex from dublin. have you had a good week? >> absolutely. this has been great. technologies, a lot of media personalities showing interesting in investing, so it's been great. >> seema, i'm looking forward to having you back in the studio tomorrow. that is almost all we've got time for today. the stoxx 600 is down around b 0.5% in europe. and u.s. futures are pope pointing to a lower ouch. if you're watching in urm, stay tuned. for viewers elsewhere, "squawk box" is on its way.

good morning and welcome to "squawk box." we have stocks soaring to highs yesterday again for the fist time in nearly two decades, the s&p, the dow industrial, the transports and the utilities all turning in record closes on the same day. for dow theorists, that makes it at least a little less likely we have an abrupt pullback. heading babb to space, virgin galactic says it could resume test flights as early as next summer following a set back over the desert summer last week.

attention, apple fanls, new mal wear is said to be targeting iphones and ipads. it's thursday, november 6th, 20 is 14. "squawk box" begins right now. good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. if you missed it last night, it was a big one for country music and for miranda lambert. she took home for trophies from the cmas in nashville, including album of the year. luke brian took title of entertainer of the career. but the awards were not without some controversy. we'll have that party of the story a little later this morning. >> the bulls off and start running after this week's midterm elections. the s&p and the dow both closing at record highs. get this, the utilities and the transports closing at new