over 200 sites checked to find the best price. so don't just visit tripadvisor... book at tripadvisor. a very good morning to you. this is "worldwide exchange." i'm wilfred frost. >> hello, everyone. i'm seema mody. here are your headlines from around the world. >> angela merkel puts investors at ease after she says the imf will be involved in the greek bailout. the german chancellor says further debt relief for athens is on the cards. >> translator: back in july with regards to extending the charities and with regards to interest rates. we may have to -- no, not may have. we do have room to maneuver.

>> another notch back for abe nomics. consumers feel the tension. the market shakes off the action and the -- is closing higher. good news for airbus as it confirms 270 planes to india. and outlining poor working conditions, besoz says the claims do not represent the company he lead. >> some flashes coming from iran. ayatollah khomeini says the nuclear deal won't open iran to u.s. political economic influence. he says it's not clear if iran nuclear deal will be ratified in iran and the united states. those late flashes on this, so he's saying if the nuclear deal

does happen, it won't open iran to u.s. political and economic influence. let's move on. the german parliament is to vote on a package for greece on wednesday with german chancellor angela merkel under pressure to sell the idea to the german public. in an interview, the chancellor was asked whether debt relief for greece is on the cards. >> translator: we already said so back in july with regards to extending the charities and with regards to interest rates. we may have to -- no, not may have. we do have room to man ooufr. we have done so in the past. we already have extended maturities once and pushed back deadlines. in a way, we can do more here, but it's clear that within the eurozone, there can be no haircuts, no writing off debt. >> joirchbing us now is the managing director and global head of strategy and solutions at socgen.

very good morning to you. if this greek deal does pass german parliament and the other critters that it needs to pass, how long until the greek issue, how long until that is risk to market? >> yeah. that's actually a very good question. we have seen a pattern of the gre greek, or the grexit happening over three or four years. in this particular case, it all depends on the debt write-off. we all know that the debt of gdp of greece has increased by the simple fact that elimination has been shrinking. to get greece on a sustainable path, that needs to be sustainable. so the likelihood of having another greek -- depends on the ultimate debt relief. we'll be playing more of that interview throughout the show.

merkel said i've always maintained europe should come out of this crisis stronger. is that true? or will the euro weaken following this crisis? >> this is pushed back to greece being the weakest link. if you had greece, you would have the rest of europe being stronger. but ultimately, it's all about the european project and having greece within the europe, eurozone, highlights the strength of the european prospects. so i think europe ultimately comes out of this stronger, even though it creates -- ultimately, it's a show of strength. >> although there's not been any contagion, even at the peak of the crisis, we saw the euro remain press depressed in the rest of the periphery. surely, the latest round of this crisis has highlighted the fundamental flaws in the single currency once again. >> yeah. but i think you can do the same sort of crisis we had in the u.s. when it comes to, you know,

the debt negotiation, etcetera. so it doesn't really mean the u.s. is weaker as a result. i think similar to europe is the same profits where they -- it's a union thaers currency based, but doesn't have a political unit yet. but i think it's growing pains so to speak in this project. >> if we do see a sharp intensification in the greek story which at this point seems unlikely, how could that perhaps change the investment landscape as it pertain toes bonds? >> yes. i think what you've seen is that, you know, when you have the bonds, typically the bund, for example, tends to rally. funny enough we had this year a pretty unusual behavior, which means where it came from the fixed income market and that usually is pretty unusual and has unraveled investors. so i think our view is that going forward, we think there should be and ought to be more rotation out of fixed income that are yielding negative rates into equities that essentially

have better yields on a relative and -- >> okay. let's hit the pause button for a second. let's take a look at how xhkts are trading on this monday morning. >> yes, indeed. last week, we saw extreme volatility accompanied by big declines at the start of the week. we didn't have big gains by the end of the week for those initials declines off the back of those currency decisions had abated by the end of the week and has carried through to the start of trade today. although asian trade has been mixed late on u.s. trade. on friday, we saw quite a strong finish to the week. that carried through to a bit of a positive open here in europe. it was more positive right at the open. we're up 0.8% at the beginning. we're now only up about 0.4%. the same is true throughout the stoxx 50. let's take a look at the continental markets and see how that performance is coming out. it is the ftse 100, laggard down

0.3%. continental europe, positive. germany up 0.25%. france up about 0.5%. let's look at the top individual with shares of alstom there at the top of the stoxx 00. up 5. % on reports the company is expected to gain eu approval for its support of ge. the sale for $138 billion will be the largest transaction on record for ge. shares up 5.5%, as i said. h&m shares up 1.25% after the swedish company beat expectations with a 16% year on year rise in july sales. this was the 10th consecutive month of double digit growth for the world's a second largest fashion retailer. hugo boss is up fractionally at 0.03% after it was said the company will expand its presence in china.

now, airbus group is up 1..2% after the company says india's budget airline indigo has committed to buy 250 a-320 aircraft. the order is airbus's largest ever deal by number of planes. and we'll be speaking to airbus in the next ten to 15 minutes. let's move on and look at bond rates, which have sort of settled down after a birth move this time last week. 2.17% on the u.s. ten year. 0.6% on the gerlan ten year. those safe havens over the last week moving as you would expect in terms of risk on, risk off, doing the opposite, really, to what equities have been doing. let's have a look at fx rates. at the start of the week, we saw the u.s. dollar move pretty much higher against everything when china initially devalued. but by the end of the week, it's been less clear, those moves, in particular, against the likes of the euro. a couple of reasons cited. does that china move derail the path of u.s. rate hikes?

also, some profit taking in u.s. dollar moves. nonetheless, the euro is a bit weaker today. but during the course of the week as a whole last week, it did move past 111 and did look stronger by the end of the week. the aussie dollar moving in line with the yuan, another asian currency that has been strong over the course of the week. a seventh consecutive week of declines for wti. it has touched a 6 1/2 year low. it's up a further 17% today. 41.8. again, at 48.6. it's not been a good period for oil prices, of course. let's check in on markets in asia. sri standing by in singapore for us now. >> hi, will. there are two dynamics we telled to talk about in the asian market. the first one is china devaluation. i don't think that story has been laid to rest as of yet. continue to go cause some volatility in the stock markets and the volatility in the currency markets, as well. number one. number two is what you were

talking about, the price of oil. oil at a six-year low. that's buffering the currency and the stocks and credit markets of a lot of these net oil exporters. malaysia is a case in point. i'll get to that in a few moments later on. let's start with the china market. we have seen the dust settle, the shanghai composite. we stabilize at the settlement just below 4,000. but the hang seng suffering today, 3,994. the basic thought is the chinese market is going to continue to weaken. the another round of competitive devaluation. despite the fact that the chief economist of the pboc, china central bank has said there is no basis for further devaluation in the currency, when you consider the economic outlook in china still remains sluggish. so you have to ask yourself, if the market does believe that the yuan is more subject to market forces, then we're going to see

further weakness from the currency, as well. and that's not good news for the chinese companies that import oil because those imports have become a lot more costly. there's obligations you have to think about, as well. very quickly, i want to highlight the malaysian currency, as well. a little stabilization. deeply negative when you look at doll dollar/ringhe. they've below some of the most pessimistic levels. 4.098 is where we stand right now. some say the malaysian ringet haven't even factored in said normalization. that's where we stand. will, back to you now. >> sri, thank you very much. still to come on "worldwide exchange," protesters call for

impeachment of the brazilian president. we'll tell you why later in the show. plus, welcome to the jungle. find out why amazon ceo jeff bezos is hitting back in response to a "new york times" article criticizing the company's workplace culture. we'll discuss disney announcing plans to add enormous star wars land to several of its resorts. more on that, coming up. it's more than a network and the cloud. it's reliable uptime. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network, and cloud and hosting services - all with dedicated, responsive support. with centurylink as your trusted technology partner, you're free to focus on growing your business. centurylink. your link to what's next.

shares in airbus trading higher this morning after the firm confirmed a big order for 250 a-320 air a craft from india budget airline understaindiana . joining us now, karen row, head of strategy and marketing at air a bus. karen, a pleasure to have you on this show. a nearly $27 billion deal. walk us through the mechanics of this deal. >> incident go is india's largest airline. they were created nine years ago. they made an order first for 100 a-320s. indigo ordered 180 of those in 2011. we're very excited that they've ordered 250 air kravrt, making

it the largest deal in the history of airbus. india being the one of the fastest airline markets in the world. airbus is extremely proud of this particular deal. >> take a look at a india coming back and the consumer, you're finding, is spending more. how important is india to airbus's growth strategy going forward? >> well, india is probably the fourth largest aircraft ordering market in the world over the next 20 years. when we first started india back in the 1990s, we were forecasting that india would have about 300 a airplanes over 20 years. today, the forecast at india's nearly 1,700 airplanes over the next several years. it's a very big market. we have 80% market share in one of the most important markets in the world today. >> kiran, a low cost airline, in an emerging market airline, forecast for us roughly, a decade ahead is low cost emerging market airlines going

to dominate global air trade? >> for sure, yes. if you look around that part of the world, if you wander around india and southeast asia where normal travel by road or by train is very difficult, and in the past air travel has been too expensive, now with the -- with the emergence of low cost carriers like indigo, what you see is that people are beginning to fly. if you ever take a flight in indigo, what you see is so many first time flyers in the airplane. very exciting for us. it's a market which we're very proud to hold such a dominant position. >> let's quickly touch on drivers, macro drivers globally right now. you must be delighted, the oil prices falling sharply once again over the last six or seven weeks. however, at the same time, global trade is starting to slow a little bit. the likes of china weighing headwinds. are you confident over the next 12 months? >> yeah. i mean, when you look at the the

aircraft market, it's not -- well, you always a have areas which are sometimes slowing down. but you have many areas that are speeding up, as well. so at the moment, yes, you may see that the chinese gdp may be slowing down. but then what you'll see is that the replacement market for the united states is going up. if you look at the number of jet aircraft in the united states, for example, there's over 3,000 airplanes flying in the united states. we've seen a spree of orders from the north american carrier toes replace some of their older aircraft. so the beauty of the aircraft market or the airline market is that we move around the world and when something is up, something else is done. but the -- the current trend is very bullish for the sale of aircraft around the world. 320 doing especially well with over 4,100 airplanes now sold. first aircraft to be delivered before the end of this year. so very exciting times for us. >> kiran, thanks so much for

joining us, much appreciated. still with us is koku from socgen. let's continue that theme. we've seen oil prices come up sharply over the last weeks or so. with that, we've seen quite a big hit in currencies, just general risk off sentiment. are there some in there that you would like that are going to benefit from the lower commodity prices and other as aette asset price changes across the globe inspect. >> well, it's true that the correlation among em countries in europe or even asia have been pretty high. so i think there's definitely winners out of the lot and what we sort of like in general are more latin countries in particular because some of them definitely will benefit from lower energy prices. but i think when it comes to trading, i think it is more interesting to look at the em versus em team. essentially looking at companies

that are focused on domestic consumption rather than the em consumption team that has been prevailing for the past ten years. so i think we might be going through a transition phase where domestic focus em companies who are essentially benefiting from liquidity induction by central bank could outperform the long held theme that em was the place to be for the past five to ten years. >> so you're saying you prefer that exposure to u.s. and domestic japan, that sort of thing? >> correct. >> and what kind of ways are you playing that? >> this is where we look at baskets. if you look at japan, for example, a lot of ways to get to japan is through nikkei and what we suggest is for investors to think about -- that will buy companies that are exposed to japan tour ifl, for example. because a much weaker yen has made japan pretty attractive for tourists, particularly chinese tourists as an example.

these trade within the market rather than trading the whole market are better attentive to play these themes. >> i want to get your thoughts on the impact of the chinese central bank's decision to devalue their currency or allow their currency to weak.. some say this will leave china the biggest consumer of the u.s. which will consume oil going forward. >> i think this reminds me of newton's third law of motion which says behind every action is an equal and opposite reaction. we sort of assume that 5% to 7% devaluation of the currency to have a positive impact of 2% to 4% on the exports which is roughly 40 to 60 basis pounds on the gdp. but we think they will need more and the weakness is likely to prevail going forward. >> i want to pick up on your previous answer being positive

to japanese consumption. very poor gdp coming out this morph morning. you said you like japanese tourism. we've now seen the chinese currency devalue. so you're still confident longer term on the japan story? >> yes. the deval eyation hasn't reacted negative to that news. so it really shows that a lot of that abe nomics still has a long way to play through through a domestic consumption and the shares. >> great stuff. thanks very much for joining us. koku, manage egg director and global head of flow strategy at socgen. let's talk more about currencies. the russian ruble has fallen to a new six-month low against the u.s. dollar with lower oil prices and continuing reports of unrest in ukraine.

77 cents down by 1.7%. >> light sweet crude has fallen to a frush 6 1/2 year low. below $42. following comments from opec, suggesting the group could expand oil production is an unprecedented 33 million barrels a day after sanctions against iran have been lifted. >> harris associates has built up a $250 million stake against glencore, that according to the telegraph. david hero could attempt to block glencore's ceo am a bigzs for a major takeover. he played a part in blocking the $5 billion pound bid for rival iss in 2011. shares in glencore are currently trading lower in london by around 1%. let's get straight out to ballgate. paul, a pleasure to have you on "worldwide exchange." what do you make of this

activist investor building his stake in glencore? >> i mean, look, to be honest, i think this is just taking the opportunity of a very weak sort of glencore share price on the back of very weak commodity prices over what the performance of the trading business will be following noble group's results earlier last week. to take a sort of positioning glencore, what seems to be rock bottom prices. in terms of sort of the activism around rio tinto, look, there's been a lot of talk around that and a lot of speculation. but given where the exchange ratios are, i think that deal is itself some way away. so if that is the motivation rather than just being a great sort of value point for an entry, i think it's somewhat premature. >> glencore expected to report a slump in earnings this week. should that be a big surprise, paul, given the volatility that we've been seeing in the commodity sector as well as the weakness in china? >> i think what the market is

looking for, what open market is looking for for more information is around the trading business and how robust that is in the face of the current commodity price volatility that we've seen over the last few months. so, you know, that's always been, you know, glencore have always held that as a source of countercyclical stability to their earnings and so far it's proven to be that. the question, i think, is will it with stabbed the receonslaug. that's what people will be looking for. that is no surprise. what people will be looking for is, as i say, just how robust the trading business is under these circumstances and does it do what ivan claims it does? >> is there pressure, paul, on ivan glazenburg or is this par and parcel of the global commodity cycle and is he pretty safe? >> it's synonymous.

so in terms of sort of an activist being able to take positions against rosenberg, he's going to need a considerably larger stake of the company than he has now. >> has the recent decline fall in commodities led you to believe this is a recent decline in commodities? and if so, which is your top pick? >> well, look, i think so. i think so. in terlts of its ability to reinvest, there is a very negative moment, a tough place for all the mining companies. they're cutting cap ex, cutting operating costs and that surely tells us we're closer to the bottom than at the top of the cycle. therefore, i think it's a buying opportunity and i think they're taking advantage of that. in terms of top picks, it depends on one's risk appear type. for anybody that's looking for a place to right out the

turbulence, that has to be one of the top picks. for the those that want more upside, it's leverage. >> thank you so much for joining us. now, jason day has been a runner up at the past three golf majors, but now he's finally sealed the deal. he won the pga championship on sunday, his first major with a record setting score of 20 under. that breaks tiger woods's a 19 under par at the british open in 2000 maefrt and u.s. open champ jordan spieth came in second. his consolation prize? he takes over the world's number one ranking from rory mcilroy. moving on, the fifa honorary president is hold ago campaign for the upcoming election. he joins a widening race which includes michelle pla a tini.

and still to come on "worldwide exchange," abe nomics, will the japanese prime minister reload after weak gdp growth? we'll get you that story after the recent growth figures. that is coming up next.

lapping la merkel puts investors at ease after she says

the imf will be involved in the brief bailout. the german chance lower says further debt relief for athens is on the cards. >> we already said so back in july with regards to interest rates. we may have -- no, not may have. we do have room to maneuver. another notch back for ache-nache abe-nomics. the markets, however, shaking off the contractions. the nikkei moving higher. good news for airbus as it confirms 140 planes for india's indigo. he was very confident on the deal. >> the "new york times" article outlining poor working conditions at amazon. bezos says the claims do not represent the company's elite.

>> you are, indeed, watching "worldwide exchange." markets this morning mostly in the green. china commodities and the euro dollar trade, a slew of economic data in the u.s. that, of course, could impact fed policy and that would be the big discussion. cac 40 french market seeing a gain of 11 points. we're looking at the italian markets up by around 48 points. the euro market, stocks across the eurozone, let's take a look as we break down the major indices. right now, the index slightly higher. >> let's have a look at bonds. markets were subdued over the last week or so despite quite a big move in equity markets. the ten-year note, 2.17 in the u.s. the ten-year bund 0.36%. let's look at forex. although last week started with u.s. dollar strength, it didn't finish with strength against all pairs. indeed, the euro ending above 111 having started the week at the top of the 109 handle.

1..1085. let's have a look at the aussie -- slorl 0.736. let's move on. >> let's talk japan. japan's gdp fell 1.6% in the quarter. the number came in above expectations. the data will likely put pressure on shinzo abe's government. let's talk more about japan with takuji joining us live from tokyo. a pleasure to have you on this show. it seems like the economic minister was trying to bring experience factors for the slowdown, china, u.s., bad weather. but it seems like it should be around the japanese consumer. would you agree? >> yes. the japanese consumer seems to have stopped believing in abe-nomics any more.

i think the japanese consumer still have severe concern over the long-term sustainability of economic growth. >> it is safe to say that abe-nomics will feed into the real economy? >> i think it's been more than 3 1/2 years since abe nomics started. yen has fallen by 40%. boj has pretty much done what they can consumer eligible do. i don't think there's much more abe nomics can do. i think as a policy mix, abe-nomics has failed. >> that is quite a strong statement. so you don't expect japan to get out of its current troubles, then? >> i don't think so. i think there are many economist webs including myself, that the boj can have -- that does not have exit policy. it's difficult for bank of japan to stop what it's doing without

causing huge turbulence to the market. on the fiscal side, japanese government still fail to show any plan to rebuild its fiscal balances. so in these cases, you're right. i think japan, it's difficult to see how japan could -- its economic part going forward. >> we just mentioned china, both the slowing economy and the weakening currency following last week. how much of an effect as what that had on japan? >> it did the -- basically, we could blame that quart ily on the exports. exports fell as much as 4% in the quarter. so that has weakened japanese manufacturers, lettened their incentive to invest in japan. but rather than blaming the weakness on the overseas economy, i think japanese policymakers should look inwards and realize that the policy they have been proposing is not

really working. >> deregulating the job market has been a big challenge for shinzo abe in general. what else can the government do to alleviate the problems the labor market is facing in japan? >> right. well, there is something very obvious, immigration. i think however japanese policymaker try to make japanese labor market liquid, with the overall population shrinking, there is only so much they can do with only japanese population. i think there is obvious way for -- to reactivate, reinrig rate the market is to open the door to overseas labor market. >> in the short material, even though you're saying that you don't think abe-nomics is working, do you expect further easing by the bank of japan when they meet again in october?

>> october? i don't think so. i think the likelihood is that the policymaker, including boj officials, would digiter for another half year. so i would say by early 2016 they have to admit that their inflation starting is not going to be met in 2016 and i think only at that point bank of japan could attempt to ease monetary policy, although it's difficult to say how many they can ease from this point. >> thanks very much for joining us, principal and chief economist at japan macro advisers. now, his economy may have weakened, but shinzo abe's popularity has increased following his speech to mark the end of the 70th anniversary of the end of the second world war. abe depressed utmost grief for the suffering of japan during the world. he would like to see japan get to a place where future

generations would not have to continue apologizing for the atrocities. the wresage of a crashed aircraft has been found by the understand nearan government. the air flight lost traffic control. the airline has had 14 serious incidents since it began operations in 1991 and has been black listed by the european union. chinese premier lee chang has visited the site of the tianjin crash. nearly 100 people are still policing. a spokesperson from the region's environmental protection agency. >> now, voters in sri lanka go to the polls today with former president hoping to become the country's next prime minister. the controversial leader served

at sri lanka's president. 75,000 officers have been dispatched to prevent clashes. india marked its 79th -- it was hinted that his government would take steps to reform army pensions. this following protests from military veterans which have been campaigning out in the center of new delhi. >> did you watch that speech over the weekend? >> no. 85 minutes is a lengthy one. did he keep everyone's attention throughout? >> de, absolutely. but the reviews were mixed. some saying he's promising a lot. but others saying how are you going to deliver inspect that's the big challenges over the last year. >> and you managed to watch it? >> everything streams online these days. it doesn't matter where you are,

you can watching -- >> and you watched all 85 minutes of it? >> i sure did. what else would i be doing? >> i'm impressed. maybe we'll test you on different parts of it. >> you should. you should. brazil, life is not a beach according to the brazilian president whose popularity continues to plunge. protesters headed to the copa cabana beach. nancy is joining us more with this story. >> we've heard everything in the ballpark of 100,000 to 600,000 protesters came out. one thing is for certain, his popularity has never been lower. only 8% of the brazilian government is said to be good or great and 71% categorize the as a fare. about two-thirds think impea impeachment is the best case

scenario at this stage. never the less, it comes down to congress and whether or not they will probably with impeachment hearings. queen in mind, she has not been convicted of any criminal wrongdoing. there is a question of whether or not any impeachment proceedings could go forward and what that would look like. >>. >> if you take a look at this economy, the challenges in looking at the currency, growth, as well as manufacturing. >> absolutely. there are all of these macroeconomic headwinds. and, of course, brazil getting hard hit as all the other emerging markets do. but we all know it's coming whenever it does and brazil is bracing for that. because we have political opposition taking advantage of the weakness here, it's going to be very difficult for this at administration to pass reforms that the country desperately needs.

>> nancy, thank you so much. still to come on "worldwide exchange," making money. millennials, generation y is set to become the largest demographic in the u.s. by year end. stay tuned to find out what makes them tick, coming up after this break. more and more, data is visual. in fact, the number of mris has increased by ten percent a year. and a radiologist might view a thousand images to find one tiny abnormality in shape, contrast or movement. because it's so challenging, a research project is teaching ibm watson to see. in the future, it could help clinicians spot key patterns quickly and precisely. ibm watson is working to make healthcare smarter every day.

what does that mean for your money? weir discussion it here on cnbc. it's a pleasure to have ow this show. i love talking about millennials. not only because i am one, but i think the market is jurndz estimating the power, the influence that they play. >> that's right. i think there's a couple of important points. first, from a demographic perspective, we think of this as an american phenomenon, but there's 2 billion millennials around the world. you look at brazil, china, india, secondly, it's the incredible spending power that they have. look at the u.s. alone, we're up to $1.3 trillion in consumer spending.

they are the most important group in terms of workforce. by 2018, they're going to overtake the boomerses and by 2025, we're looking at over $8 trillion worth of annual net income. >> this is a big portion of global population and rising. but they also have a lot of disposable income and are they spending it? we look at japan's figures, people are saving money. but millennials, in general, are spending it? >> it's a group that age in rage from 18 to 34. we have to separate that demographic, a little skeptical of the world around them. seeing signs of wage growth which is changing jobs and is looking to make a lot of the aspirational purchases, such as houses and cars of previous generations. >> let's talk more about that. how are they changing consumption? you take a look at the

millennials, you could say that this population pry prioritizes experiences. they're spending more money on travel than the previous generation, how that creates a big opportunity for some of the online travel players. >> i think online is key. technology is at the heart of everything they do. they're 2 1/2 times more likely to be early doctors of technology. what are the things they're looking for? it's price, looking for something relatively cheap. and they're looking for something that's convenient. it's tech, being ready for everything through to the online market, being able to offer a seamless experience due to the app on your smartphone. >> what are some of the challenges that you think companies face trying to target the millennials? one day we like snap chat, the

next day we say they're old sxour parents are using them therefore we don't want to. >> you look at the number one hobby of millennials around the world, it's gaming, video games. you look at the number of hours millennials have spend playing call of duty, it's longer than the entirety of human existence. >> tech is obviously a strong way to play this theme. and this theme clearly is a long-term one, not a short-term one. >> that's right. but is that the the best way for investors to get exposure today? clearly on the private smkt, tech is escapely valued and on the public market, as well. >> i think there's a number of other areas they could look to, particularly the consumer sector. we're seeing paces like fashion, tech savvy is gaining huge market shares. fresh, natural, healthy and

organic foods. this is a segment gaining significant market shares. this is aco hort that not only expresses a desire for these types of tells, but is willing to pay a premium. 8 million new households being formed by millennials through the end of this decade. that's going to be about $2 trillion world of value granted. >> are they allocating or saving more of that money tore investing in a start up? >> to date, you have to think this is the generation that's groan up around 10 to 15 years of difficult economic conditions. 71% of them would rather go to their dentist than listen to what their banker has to say. this is a generation which is characterized by high degrees of skepticism.

when you look at that demograph demographic, they are going to make a lot of traditional purchases. >> there are many that have bad restrooms of what their parents observed during the stock market boom. >> quickly touching on the property market, so far, i think the trend has been high that fewer millennials have on the ladder than people otherwise would have at that age. is that true? >> there's a debate going on as to whether this sort of change is cyclical versus secular. our view very much is that it's cyclical. you know, long-term, when you look at the american millennials, 73% of them list home buying as one of the primary aspirational purchases that they want to make. . the overwhelming majority would like to buy a home over the course of the next five years.

>> that should support u.s. house prices over the next decade. >> that's right. >> thank you very much for joining us, it's been a pleasure. and we've talk about millennial money, but how do you youngsters have fun? if getting locked in a room and having to solve challenges sounds like your thing, check out escape games. hesitate to cnbc.com to read more about our millennial coverage. the "new york times" has generated a ton of response on the workplace at amazon. several employees say they're constantly moon tored and pressured. many on social media are empathizing with workers who say they've been treated unfairly. but others, including a current amazon manager says the article is a, quote, horribly

misinformed piece of journalism. in a memo, the amazon ceo says it doesn't represent the company he leads. now, i have to say, overall, i find this a quite interesting story. forever we're talking about how silicone valley is a joyous place to look. the likes of ghouling say having fun at work is encouraged. so it's quite nice at least to have a story that offsets that imagine. >> sure. >> and many of the people that you speak to in a generation, they prioritize being a part of a company that strives to do good for society and wants to have a change on global impact and that speaks to what some of these big tech companies are trying to promote themselves as. you're gaining something from it and that's why you're finding more college graduate hes with their jobs in silicone valley.

even though you might get a higher valley on wall street, you'll find there is a shift right now, particularly among the generation. theptd to be a part of that growth and the innovation we're seeing on the west coast. >> now people in the tech world are earning huge, huge amounts. this story on amazon today, interesting because it may start to shift the public opinion at the moment. i wonder whether that public opinion will shift in due course and people will look back in a few years and say these companies, it's a joke what people are earning in this space and that has to be equalized. >> yes. and perhaps the work standards around that great. some of the quotations, pretty concerning. one amazon employee says nearly every person i worked with i saw cry at their desk.

so definitely a negative review on this big tech player. the question is, does it change the company's strategy going snaurd? we'll have to see. >> and, again, jeff bay zones denied it is an accurate characterization. but, again, we want to hear from you on this story. let us know what your workplace is like and which seshther you are working in. now, may the force be with you, along with a pair of mickey mouse ears at disney's annual fan expo this weekend. star wars theme lands are coming to theme parks in california and in florida. disney's largest park expansion ever. construction is expected to begin by the end of 2017 and

includes rides and entertainment, including a chance to fly the millennium falcon let's have a look at price action. disney shares in germany, up about 0.5%. speaking at a disney land expo over the weekend, george lucas had this to say about the announcement. >> not very many people realize that goof fee was the ibz operation for jar jar by-nks. i know you'll look at him differently now because it's pretty obviously, actually. >> now, more than 60 storm troomers walked across the golden gate bridge in san francisco to show their support for a new nonprofit organization for children with cancer. the mini army joined kevin doyle who walked 645 miles in full storm trooper attire to colic con in honor of his late wife who died of pan korea at aic cancer two years ago.

it's really fun to bike from the marina over the golden gate bridge, catch one to salsolito and take a ferry back into embarcadero. >> i've been to the goaden gate bridge. it's pretty impressive. i didn't do it dressed as a storm trooper. it is stunning. my favorite thing wag was going to alcatraz. >> that is a moving experience. >> i have to say, i sdwruft went around acting out the film "the rock" with my friend. it was great fun. >> have you seen the film "the rock" though? >> of course, absolutely. >> nicholas capable. >> and sean connery. >> absolutely. it's a great one. >> how are european markets looking at this time? the cac 40 seeing a gain of around 0.14%.

a bit of a concern for markets last week was the move from china central bank and what the im my conversations on global asset pes. we saw them gain steam towards the end of the week. slets have a look at u.s. futures. we had a laterally on wall street on friday and we're looking the like we'll just about continue that given slight positivity in european equities, around about 1.6 points for the positive to the dow joins open. and just above flat for the s&p 500. and still to come on "worldwide exchange," was at&t snooping ott? we'll discussion the allegations of spying made against the company after the break.

welcome to the second hour of "worldwide exchange," everyone. i'm seema mody. >> and i'm will forget frost. let's get you your headlines from around the world. >> and we're going to start with greece. angela merkel puts investor at a ease after she says the imf will be involved in the greek bailout. ae she says further debt relief for athsens is in the cards. >> we already said so back in july with regard to interest rates. we may have to -- not may have.