expect sharp moves in the very near term. both of their comments from the pboc but also their actions in terms of the sharp moves that you've seen just before the close suggested they're not very comfortable with the very rapid pace of devaluations. >> other people are saying it's part of their long telegraphed move toward more financial liberalization and it's a good thing for the market. where do you stand on that debate? >> one of the interesting things is that right now it's the need to ease because the activity has been weak. i think those two pressures push you in that direction. our sense is i think while the

near term move might have been the exchange rate liberalization, as you roll forward, as you think medium term a year ahead i think those pressures from the economic side especially from the view that china is going to have to unwind this big credit build up, that will push them toward seeking that front and weaker exchange rate whaend we think about the fundamental economy in china, what's the biggest risk? >> like you said, a policy mistake in a sense. that's one of the things that if you think about what's actually happ happened these are easing measures. you expect to see risk assets do well on the back of such measures. they're pricing in a risk

premium in chinese assets and as data worsens and as there are no good options on the table, there are missteps in how chinese authorities react to what is going on. >> do you think that would be another policy mistake? that has in some ways been helping the chinese economy a little bit on the margin and hasn't helped investor sentiment. >> i wouldn't say that would be a mistake. the chinese economy does require easing. what you are seeing is activity has been very slow. it was not so much the slow down in activity of the first quarter of this year. it was not so much of a surprise. what came as a bigger sur prooif to me is that the half life of the recent measures were so short. the activity data turned down again. there's a sense that financial conditions need to be eased so we would expect to see further easing measures. >> i want to broaden this out to the emerging market currencies

because yesterday and over the last two trading days we've seen a stabilization in the yuan. but they still sold off. that doesn't that tell you they don't care about what china is doing? it's the home grown problems causing all of the pain. >> there is a home grown problem. there are external-internal imbalances in many emerging markets. brazil is a good example of an imbalance, the fiscal deficit. the largest in a decade. currency weakness is part of a solution to address some of those imbalances. what china's move does though is just makes it that much harder in the sense of the depreciation that you've already seen in many of the currencies over the past couple of years, in part that's been undone by what china has just done. so if what has happened in china

is a start of a journey it makes it that much harder for these currencies. they need to move even more to address the external, internal balances that they face but a agree that i think the home grown imbalances whether they're external like in the case of brazil where we expect them to trade up four in 12 months time or internal imbalances where inflation is below target and exports are struggling, it is those home grown issues where the currency weakness is part of the solution to address some of those issues. >> that brings me to my next question. how do central bankers reinstate that ahead of the rate hike. >> the currency depreciations are necessary for their own home grown reasons. it's not so much the fed hike is going to cause currency

depreciations. it may be a catalyst that makes some of the adjustments more disruptive or hasten them in certain places but on the whole what is going on in emerging markets is something and the currencies in particular is something that's required. it's an adjustment that needs to happen and is likely to happen whether the fed goes in september or december. which is our house view. if the fed goes, when it goes, i would say a couple of things. obviously there's the sticker shock of the day you get the first rate hike after so many years of 0 interest rates and that's going to be some reaction but i actually think that the move is so well telegraphed. we discussed it so long, that actually if it's just a rate hike and if the broader financial markets take it on the back end of the curve i think the disruption will be

contained. i worry more about the move higher and rates start going up and broader financial conditions tighten that's something that is likely to be more painful to emerging markets and central banks than just the first rate hike if it's well conveyed in a dovish fashion. >> great stuff. thank you for joining. we'll have to leave it there. chief em macro strategist at goldman sachs. >> a small explosive device was thrown from a bridge in bangkok. this was described as the country's worst ever attack. let's get to bangkok with ian williams. >> hi, wilfred. we're still trying to get more detail of what appears to have been a small explosive this morning thrown toward a pier on the river. it's for river taxis that plow

through the center of the city. it appears to have been a grenade or other small explosive and it blew up in the water so nobody was hurt. details are scant but this is a city that's very jittery at the moment after the carnage yesterday. now the prime minister gave a press conference a short while ago and he was giving very little away. he said they are looking for a suspect. a suspect who was spotted in cctv footage. he said they are looking and examining all sorts of other security footage but at this point they have no particular group in mind. now leader of the cue is a character that tends to see enemies everywhere. he has been cautious because bombings like we saw yesterday are massively out of character here. there are political conflicts.

we have seen some violence, a lot of violence over the last decade in the deep south here. those three majority muslim provinces where an insurgency is underway. also a lot of conflict on the streets of bangkok between rival groups. we've seen some small bombs up here and big bombs down south but the conflict down south has generally stayed down there and the conflict on the streets of bangkok has never exploded or come to this level of violence. it's puzzling to experts who are looking to see who might have perpetrated this and there's been no claim of responsibility, wilfred. >> ian, thank you very much for that update. there in bangkok. let's bring it back to markets. markets here in europe and yesterday we were up, down, and all around starting positively, finishing slightly mixed and today we're opened with the negative 0.34%.

now yesterday u.s. equities did finish strong despite oil prices selling off. let's look at the individual european markets. 0.4% of declines even out. it's pretty even across all the markets. germany and france down more than that close to 0.5% and italy down about 0.6%. let's have a look at the top individual movers here in europe today starting with royal dutch shell. they were given the okay to drill for oil and gas in the arctic. they have a frame work deal with a firm to jointly purchase and distribute natural gas. vtb off 0.4%. that's russia's second largest bank trading lower despite reporting net profit for the first three months -- first time in the last three quarters. the bank has seen earnings sink due to western sanctions of

course and a spike in bad loans. now lindt is up the best part of 1%. the swiss chocolate maker have hit a record high after the company reported a 15.6% rise in net profits in the first half. they all confirmed the full-year sales target. earlier they spoke to the ceo about what was driving the company's performance. okay that's not working. we'll bring it to you a little bit later. it's been calm today despite on going volatility in equity markets. the euro did end strong and was up to 111. just flat today. sold off yesterday but now just below that 111 handle. the aussie dollar has been weak over the last trading days or so. it's soft to the tune of 0.3% today.

0.734. oil prices still very much in the attention. last week was the 7th straight week of declines for wti. fresh 6.5 year lows again this morning. down 0.7%. 41.6. brent is at 48.5. it's off half a percent. guys, back to you. >> still to come on the show, the game is up. we find out why bill gates was sneaking around microsoft offices after hours. that story coming up. 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.

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the finance minister is sure the imf will participate in the proposed greek bailout and he has no issues in pushing his come legs in parliament to back the deal in a vote tomorrow. he said the existing terms for greece are very generous but no decision on the bailout are taken lightly. in an interview he was asked whether a grexit is still a possibility. >> the situation in greece is the same as it was in 2011. this has been said over and over in public in the federal parliament. the adjustment for greece has been difficult position. it's solely a question for greece.

the majority of the greek population if they want to bear this burden which is necessary if they want to stay in the euro or not. the problem is he lead a campaign with the promise they're going to stay in the euro but do not accept any program and i always said it will not work. greece must also make a choice. that's a distortion which was completely false. >> moody's said depreciation in the yuan and volatility in the chinese stock market will have a real impact on the economy. the credit ratings agency left it's gdp forecast for china unchanged. however they predict that oil prices will stay lower for longer. >> good morning to you and thank you for coming in. i'm looking at your g-20 forecast for this year. you're expecting growth of 2.7%.

i just wonder with all the problems lurking in the background, we're talking fed tightening and china devaluations and soft commodity prices, how much uncertainty is attached to that forecast. >> 2.7% will be similar to last year's growth. it's lower than what we were used to before the financial crisis which other people are still using as a benchmark as what normal growth will be like. so you're right there's a lot of uncertainty. various sources are risk factors that could really make global growth weaker than we expect. and some of that related to europe where the possibility of a greek exit has diminished but not disappeared entirely. >> it's real interesting as i just mentioned in the introduction you also kept your outlook for china unchanged and

that's something that probably puzzles most people the most. why is that? why don't you see a big impact coming from the yuan devaluations or the stock market crash? >> our outlook is one of a gradual slow down we used to grow at 2% a year and now we're looking ahead moving closer to 6%. this is largely due to really the policy support that really maintains a gradual pace of slow down. the chinese economy is going through significant restructuring and a shift from manufacturing to services, deleveraging among large companies and it's really significant support. the depreciation in the last few days is still relatively small and shouldn't have a significant impact. >> you mention policy support there. policy support in china still relatively muted compared to what we've seen over the last 12

to 18 months. if we look at japanese gdp does that suggest that qe and japan isn't working? where as perhaps it is, in fact, working in europe. >> there are interesting differences. what we've seen in japan, gdp was down declined in the second quarter. we've seen some positive effects of the weaker yen on exports but very slowly and to a limited extent and the missing element so far is an increase in capital spending and investment buying by corporates. in europe there has been more of a response to the weaker euro and oil prices playing a role but the second quarter ge growth was disappointing across the range of countries. >> it's thought that qe worked better in the u.s. than perhaps it is working in japan although when we look at the growth of circa 2% surely we need to be seeing growth at 5 or 6% to

justify this 6 or 7 year run of interest rates. do you think that growth is strong enough to be ready for that stimulus to be removed? >> ultimately the global economy is gradually moving toward lower growth. there's a range of factors there and then there's country specific factors. for the u.s. in particular, we think that the u.s. economy will be strong enough to really warrant a gradual tightening of financial policy. the federal reserve has been very clear on that. the rate increases will proceed at a slow pace so market investors are ready to take this but corporate profits are strong. spending is supported by increases in income, labor market is robust as well.

>> if we pivot the discussion to europe despite the economic recovery in this region companies are not investing in growth. instead they're hoarding cash and buying back their own stock. this could have major implications to wage growth i would assume. >> this is significant factor for the medium term. medium term growth necessitates investment spending. it supports the economy over several years and we haven't seen that happening in europe yet. we have seen some positive effects of lower oil prices on consumer spending but companies seem to be still preferring to keep cash, maybe in light of still some uncertainty about the outlook ahead. >> does this tepid investment climate indicate to you that this recovery is fragile. >> that's what we highlight. we have global growth coming from 2.7% this year to 3% next year. that's still below the

historical standards that we were used to. and within that, then there are a range of risks. so it is a fragile recovery and subject to downside risk. >> i can't get my head around unemployment figures. italy at 12%. youth unemployment north of 40%. when do you see that improving? >> the labor market is an important factor. we're seeing only a gradual improvement in that respect. we're not seeing unemployment rates down to the low double digits that we had during 2007 or so in this decade either. they are trying to increase profitability and productive and that comes with relatively slow growth. >> pleasure to have you on the show. >> bill gates reportedly uninstalled mind sweeper off his personal computer as he was

spending too much time playing the game. it lead him to sneak off to play on a colleague's computer instead. he was beaten at his own game when a computer completed it in 1% breaking gate's previous record of 5 seconds. >> what game is your weakness and how do you escape from the real world? solitary or candy crush? do they take up too much time? do you have to delete them yourselves? join the conversation and get in touch with us worldwide at cnbc.com or via twitter at cnbcwex. there's a game called football manager. previously called championship manager where you get to manage your favorite football club and that is addictive. i spent most of my teenage years playing that game. >> you still turned out okay. >> just about. i had to go to special school

for it afterwards. >> you saw what i was playing before. i'm addicted to it. >> just during the break she was playing tetris on her screen. >> i'm good at it. >> yeah. >> do you have a game? >> i'm more of a social media fan. you'll constantly find me on twitter and instagram and facebook. but i would love to know what the european leaders play during their breaks. these long drawn out negotiations. they must have one game they go to during breaks. >> angry bird. >> if they get busted on their devices playing these things they get so much grief for it. >> wasn't there a politician busted playing candy crush. >> wasn't that an mpc member? i don't know. even if they want to play they don't do so. do get in touch with us worldwide@cnbc.com or @cnbcwex.

worldwide exchange is back in a couple of minutes. stay with us.

chinese stocks close down. traders citing a big ichb jex from the pboc and speculation over a rrrr cut. a bomb explosion rips through a

shrine in bangkok killing 22 people in -- >> in what thailand's prime minister is calling the worst ever attack. the perpetrators are still unknown. >> german finance minister makes the case for greece's rescue deal. >> i haven't made it easy for myself. have taken a great deal of trouble. i have struggled over this and i think weighing off all the points of view it's the right decisi decision. >> the go ahead in the arctic. the oil major will be monitored around the clock. july cpi has risen year on year. we're expecting it to remain flat at 0.0% and sterling rising off the dollar on the back of that.

rising quite significantly up 0.36% on the day's trade. you can see that jump as the day has come out. 1564 at the moment. let's have a look for a little bit more of the data. so we're looking at core output ppi plus 0.1% on the month. plus 0.3% on the year. the main number though as i said, the july cpi year on year at plus 0.1%. >> and the largest contribution is from clothing and footwear. we expected more pressure from energy prices given we've seen that continued drop in oil prices but this is quite a surprise to see an upward contribution from clothing and foot ware. >> indeed. that overall cpi number just edging up year on year. let's discuss this more with simon french. now this say slight positive surprise at the margin, of

course. 0.1 rather than 0.1. when we sum that up with what we got from super thursday are we still not expecting a rate rise this year? >> it's off the table for this year and with the on set of further reductions, it's falling year on year which is where it was the back end of q-2. so there's deflationary pressures coming through the pipeline. so there isn't aone upside unless -- and this is the kicker in all of this data is if we start to see wage pressures come through and translate. so really, for me, the data the bank of england need to be look at is not so much the cpi data, it's all about the labor market. just a soft patch and we continue momentum. >> soft patch but still with

wage growth existing so better than the u.s. when we say that we're not expecting a rate hike this year is it down to those fundamentals all the things you just mentioned? or is other factor that people are mentioning, that he'll want to wait until the fed has moved first. do you think he cares about that factor? >> i think he does. we have been 7 years across the developed world with no rising interest rates. there's a whole generation of borrowers and financial markets that haven't experienced an increase in fed funds rate and he'll want to proceed cautiously. what's interest as good there is no inflationary argument for janet yellen or mark carney to raise interest rates. what they want to do is start to cycle early and send a warning shot across financial markets and the hunt for yield and in household budgets. get the household monies in order ahead of a potential hike,

more aggressive hikes in 2016. >> let's talk about the sterling. talking about the fact that the sterling is a big unknown and big wildcard for the boe. you expected cpi to tick upwards in the second half of the year but with the strength of the sterling and we're seeing that this morning on the back of the data, that's probably only going to happen on q-4. >> what you're seeing sits doing mark carney's job for him. he's probably raised effectively the interest rates in the u.k. by between 50 and 75 basis points just by the strength of sterling and the impact that has had on cheaper import prices and what you'll see is an impact later in the year as the year on year change in sterling which was front loaded starts to leave the system along with year on year change in oil prices. >> if input prices for chinese

firms rise thanks to the measures taken by beijing to stimulate their system how much of a boom would that be for the u.k.? 9% of imports come from china. >> you're right. what you've seen the u.k. consumer do is spend the wind fall of lower prices in the sho shops. good deflation is when the labor market is strong and you have unemployment rates around 5%. the kind of levels we're seeing in the u.s. and the u.k. and the consumer feels confident to drive down their savings ratio and spend that wind fall and that's what you're seeing in terms of the boost from china potentially. consumer sentiment may go higher still. >> what's your call for sterling? it's been a perfect storm. descent election result. on going issues in europe of course and better wage data than in the u.s. has sterling had it's rise for the year? >> there's more to come.

if you look at the trade weighted basket, 40% of that is with the euro zone. there's a continuing quantitative easing program. you look at the other currencies and what's going on with the ecb. a big impact from china will be the impact on the euro zone exporting numbers and it's a crucial part of their growth story. if they have to weaken the euro further that's only got upside potenti potential for sterling. >> thank you for joining us. much appreciated. >> a shake up of the board at toshiba. they falsely overstated pop rating profit by $1.2 million. we're joined with the story from the nikkei. >> yes, now following it's accounting scandal toshiba will tighten it's governance by appointing the majority of the board members from outside of the company.

they had 4 outside directors but the number will be increased to 7 while there's only four board members from within the company. most of the original board members will step down and they're expected to include top business managers including former presidents of mitsubishi chemical. an outside director is to chair the board but the current chairman and chairman will also stay on and work to regain trust in the company. in the meantime, toshiba is finalizing it's earnings report for the year which has been largely delayed due to the scandal. it's likely to fall into the red. the original forecast had been a net profit of around $960 million but after reviewing it's core businesses, such as microchips, consumer electronics and the u.s. nuclear power business, losses are expected to exceed $800 million. it had major impact on investors

and they'll likely take it into account when it determines how to penalize the company. that's all from the nikkei. back to you. >> thank you very much for that. let's have a quick look in on asian markets in today's trade. it's a soft day lead lower by chinese markets in particular which finished the day down a little over 6%. there's rumors that we'll see further easing but the market really reacting not to the fact that we might see easing but the fact that we will, in fact, need it. let's also see the other main markets. hong kong included down 1.4. japan down 0.3% and all of the major indices across asia are in the red today. >> look, i mean, everyone is trying to find a reason for that sell off when we see a 6 or 7% decline. you name it. is there always one specific reason? i would steer clear of that because we still know there's a lot of margin debt being unwound. this could have easily triggered the move today.

it doesn't have to have anything to do with further liquidity. that's just my take but it's such a technical driven market. >> i agree and so absurd has been the performance of the a share market in 2015 that a sudden 6% sell off isn't that surprising anymore. i would point to the fact that hong kong is off 1.5% today. that's a relatively big move for hong kong. we've had a relatively strong couple of weeks in china. it did well last week off the back of the devaluations and then just a bit of a correction and 6% in 2015 terms isn't a too extraordinary correction. >> the market never likes uncertainty. that's what we have right now. we don't know how worse the situation is going to get. the move to intervene on the currency front highlights how much beijing is worried about the state of its economy and the fact that unconventional policy hasn't fed through to the real economy. >> maybe you're right. maybe it's fundamental factors.

i'm still saying sometimes maybe it's just technical factors. anyway, the remains of the 54 people that died in a plane crash in indonesia on sunday have been found by rescuers. that accident in the mountainous region left the airplane totally destroyed according to officials. meanwhile rescuers say the black box has been found in good condition. >> now at least two soldiers and several civilians have been killed after an exchange of artillery fire between ukrainian government forces and russian backed rebels in eastern ukraine. russian president vladimir putin makes a three day trip to crimea. >> pro-kurdish party leader is guiding the country before elections. meanwhile, to firm a perm gnat

coalition failed yesterday. they failed to secure an electoral majority. turkey is now expected to hold snap elections in november. >> turkey's economy minister says hiking interest rates won't be helpful for the country's economic growth. this comes ahead of the central banks rate decision due later on today. he's under pressure to normalize policy before the u.s. fed starts raising rates possible in september. the lira tumbled to a record low against the dollar once again on monday ahead of today's central bank. action currently trading at 2.875. >> still to come here on world side exchange, the kids aren't all right. right wing that is. we discuss the rise of support for far left parties among young people in europe. that's coming up after the break.

the death toll from the deadly last in tianjin has risen to 114 with authorities warning residents to stay out of the rain due to possible chemical contamination. insurance losses will be somewhere between 1 and $1.5 billion. let's get more from eunice with the latest from beijing.

over to you. >> thank you. well the focus today is on the clean up effort. thousands of soldiers are on site. hundreds more are on the way. this is after the authorities confirmed that 3,000 tons of dangerous chemicals are located on the site. including 700 tons of sodium cyanide. they're going to continue for the next several days and already the state media reported there are waves of white foam that have been seen on roads that are several kilometers away from the site. they're worried about the greatest risk to public health. they have taken every step to prepare for this and their plans are in place but just how effective they are are still unclear.

they have put in place several task forces to investigate who is responsible for this accident and just this afternoon a very high level senior official in charge of work safety was put under investigation. the authorities announced they put under police control the management of the logistic company that owns this warehouse. the economic losses seema as you had mentioned are probably going to be high, at least the estimates are that we would see insurance claims of up to $1.5 billion. tianjin is important for the car industry. there's several reports of manage to cars from honda, toyota. ford has limited car damage there as well and in terms of the greater concerns, there's still disruptions and delatos use the port even though the port said that it's some what resumed operation and some of those companies such as toyota

said that in the next couple of days they are going to get their production line backs to normal. >> thank you for that. >> now the white house sworking with cue da for commercial flights as soon as december. the wall street journal reports the obama administration is also exploring weigh ways to loosen restrictions. a bill is pending to remove the travel band and descend the decade old embargo. >> petrobras may need to pay $1.6 billion more to settle the u.s. criminal and civil probes into it's role in a corruption scandal. this is according to a reuters report. the story suggests brazil's state run oil company expects to face the largest penalties ever imposed by the u.s. in a corporate corruption investigation. it's shares are traded in the states. until recently it was the

largest foreign company on the u.s. stock exchange. it is off by 2.8%. >> support for hard left parties among young people in europe is on the increase. the latest manifestation of the trend is the rise of jeremy corbin bolstered by support here in the u.k. in an interview with catherine boyle he summed up his ideological position. >> i'm proud to call myself a socialist. someone that wants to share the wealth and the experience and the abilities of everybody. it's -- socialism is basic humanity. i consider myself a reasonably human kind of person. >> cnbc also caught up with some of his young supporters. here's why one says he's voting for the hard left politician. >> we need young people to feel like there's something to live for. because my generation, we're the

ones that get picked on the most. we don't have anyone to fight for us. we don't have free education and the opportunities that the generation before us had. >> joining us is the director of digital strategy at silk digital and catherine boyle who carried out the interview yesterday with mr. corbyn. i want to touch on this big rise in support which is quite a surprise here in the u.k. is that down to young voters or a reaction of the policies that's appealing to people across the spectrum. >> first of all, i didn't see it coming. he made the registration by several minutes. is it around grievances particularly felt by the young? i think so. in the early 1990s two third of people were homeowners.

by 2025 that's less than 40% so a huge structural exchange in the british economy since 2008. that's beginning to find a political overhead. he might not even win this but something cig any cansignifican happening. it means the break down of the union because young people north of the border see the s&p as their great chance for political transformation and change. so yes it's a significant feature but i don't think it's the only reason why he's doing so well. you have to remember strongest in the world. those people are still alive. they still remember the miner strike and for the first time in three decades they are as enthusiastic as anybody as well. >> but is this going to translate into success at the ballot box? that's the real question isn't it? it's all nice having this great

engageme engagement. but are they going to want to back him and is he going to be able to earn broader appeal to get into power and enact these policies? >> big question. one or two things is going to happen. either he makes labor uneltable or we're going to see a shift in the overall poticabate and that will move significaly leftwards. for what it' worth he will inevitably take some seats off of the s&p. would it be enough to be the biggest party in parliament? i don't know. but look at obama and al gore, what changes, it's the turn out. that's what corbyn will need to win. will that happen? it's a huge question.

if it carries on that's possible. >> you're the director of digital strategy. to what extent has corbyn gotten help from social media? we know even milliband had a major following. people wanted to take selfies with him. you can't say he failed in that respect. how much better is corbyn doing? >> britain is yet to have a candidate as powerful as howard dean. nobody has intimidated that. nothing like that has happened. we're seeing really significant online campaign around corbyn. why is that sf it's an open campaign. it has to be. they have no resources and no money so they have to be open to

what digital media loves. he has this huge result and they have to be open to the media now powering them to the top. >> quickly the book makers have corbyn at 4-1 odd favorite to win. do you think they have that right? >> i have been trying to get hold of him for the last week to talk to them and get something out there. they're not responding. there was of course this rumor that petel mandleson tried to get them stand down so it would have been cancelled. that actually woenuldn't have worked. but blair and brown came out, gave two big speeches. didn't actually nominate a candidate they chose. in light of that it's highly

likely that given the powers that be over the last several decades in labor, i think he's won. >> thank you for joining us. very interesting perspective. director of digital strategy. also, thank you to catherine. >> moving on, starbucks wants to be your neighborhood bar. they're ramping up efforts to sell wine and beer in it's u.s. stores. it will start selling adult beverages along with small plates such as bacon wrapped dates and truffle mac and cheese. it also applied for liquor licenses at several hundred more stores. they're also touting a reformulated pumpkin spice latte that has real pumpkin in the recipe. it's dropping unofficial ingredients after a food blogger called out the coffee chain for its lack of transparency. >> do you think it's an all day license? you can get whiskey in your coffee in the morning?

>> they want to ramp it up after 4:00 p.m.. that's when the coffee drinkers slow down but with you. >> it's 4:00 p.m. when you have your first alcoholic drink every day? >> it's 4:00 somewhere. >> i'm interested to see if that works. let's stick on the food topic. are you a breakfastarian. it's the term of people that eat more than one breakfast and crave the meal several times a day. they're big fans of mcdonald's. the chain topped a poll for people seeking to eat breakfast food two or three times a day ahead of burger king and starbucks. they're offering an all daybreak fast menu. i do like a mcdonald -- i don't like a mcdonald's breakfast. it's too greasy. >> it's quite greasy. >> if i'm going to go at lunch or dinner time. i go for a quarter pounder with cheese meal large with six nuggets on the side. that's not going to appeal to me

but it will for breakfastarians. >> the egg mcmuffins finds a lot of appeals. >> no fast food for me. i'm a very healthy person but have to say what's fascinating about the stu city there are people out there that want breakfast two times a day. but kudos to microsoft -- excuse me. mcdonald's for responding to this research. they're basically revamping their menu to appeal to an audience. >> let's talk fashion. they're shaking up management creating six new executive roles. the wall street journal says the move will be announced today as part of the strategy to organize by brand rather than by product. all except one position will be filled by outciders recently hired by companies. they struggle to boost sales as customers tire of its log

logo centric clothes. shares in germany up by 1%. >> american apparel is running out of cash. they may not have enough liquidity to keep operating for the next 12 months. the losses may continue through the rest of the year. sales fell 17%. they have been sliding ever since the board ousted the founder as chairman and ceo last year. >> right. still to come here on worldwide exchange, can you guess how many millennials tap the bank of mum and dad to step on to the housing ladder? find out the answer. we're back in two.

welcome to a second hour of worldwide exchange. i'm seema mody. >> i'm wilfred frost. >> chinese stocks are down. shedding over 6%. more stimulus amid fears of a sharp slow down. >> an explosion rips through a shrine in bangkok killing 22 people in what is called the worst ever attack. the perpetrator is still unknown. >> drill baby drill. the united states gives royal dutch shell the go ahead for exploration in the arctic.