hi, everybody, good morning, welcome to worldwide exchange. >> good morning to all of you. welcome to worldwide exchange. i'm seema mody and here are your headlines around the world. >> european equities hoping higher after stocks ride out a choppy session to end flat. the nikkei also pairing losses into the close. >> but oil still in retreat after another rise in u.s. stocks. this as one bear calls for wti to hit $25 barrel this year. >> alstom shooting to the top of the french market after brussels

is set to approve a $14 billion deal with ge. >> shares in asos slide after ceo nick robertson steps down with citi saying his replacement will have his work cut out. hey, everybody. good morning. glad you're with us. questioned we saw a lot of selling across the board here in europe and across the states as well. many european equity markets ending lower. our stoxx europe 600 called slightly higher this morning and just reflecting that higher trade.

that's what we're looking at so far. i want to show you the sector moves and how it's filtering in through trade today. it's being traded out of so heavily yesterday on the back of the chinese manufacturing data leading to more fears that the world's largest metal consumer that they're slowing down. telecoms trading off a little bit. this sector was hard hit yesterday down by more than 5% and oil and gas off by 1.3%. oil having been so volatile. we gained some of that. financial services higher, real estate higher and health care up. just to give you an indication of the main markets out there. the ftse flat. xetra dax up higher and the cac up by a tad and the ftse mib up

by.7%. the euro dollar, a lot of focus heading into tomorrow where we have the rate setting decision but we'll be all over the press conference to listen to what mario draghi has to say. he will address the market turmoil and probably whether or not the ecb is putting up plans already to potentially extend quantitative easing. we're still around 120. >> crude lower and down by 2.3%. we'll talk more about oil and what the indications are there and we have fun comparison with regards to whether or not oil and the dow, what would have happened had the dow followed oil prices.

spot gold around 1140 and spot silver trading higher as well. that's what we're seeing here heading into worldwide exchange. another very mixed morning in the asia markets as well and the chinese indices opening sharply lower before reversing to finish almost flat also within the last hour the pboc outlined it will be requiring reserves for all purchases and that's according to a document seen by reuters. let's talk more about what's taking place out of asia. sri joins us. good to see you. >> good to see you too. it's a fairly subdued session overall. let me start with china. we came off the worst level of the day to end flat at 3,155 and there were real cross currents today and you eluded to them. we got reports that the

brokerages were stepping up their pledges to support the stock market so that helped confidence to a degree. some are connecting the dots here and saying that that officially sanctioned buying by the brokerages are just in preparation to put the best foot forward on the stock market for the victory day commemorations tomorrow. and we got reports that the government in beijing was continuing their crack down on the unofficial market. the margin financing. margin debt. remember it's created this volatility so here you have these very mixed signals in the chinese market we had a good session earlier on. we saw a lot of bargain hunting

and scooping down the heavyweights and we saw some selling toward the close so let's call it flat and we're watching this level and if you test that and came close to doing so today then that will be a fresh six month low for japanese equities. let me remind you that the mainland china markets will be out of action tomorrow and also on friday. they will resume trading on monday so volumes will be that much more thinly traded tomorrow with the china markets out of action. that's where we stand. back to you in london. >> thank you very much. we'll see you in around an hour's time. thanks a lot more now though. here in the studio we're joined by edwin, ahead of emerging

market sovereign debt. good morning. >> good morning. >> how are you? >> fine, thank you. >> how are you viewing all of this volatility? what are you thinking at the moment? well, it's been a busy time. a lot of it has to do with china. the taper tantrum because this isn't about u.s. treasuries. it was about almost doubling in yields and we're calling a treasury rally. this is quite different than years ago. >> where are the opportunities? do you want to be in the merging market debt at the moment? >> it's an interesting question. we've seen a sell off in emerging markets and these are usually the good opportunities for long-term institutional investors such as ourselves to take advantage of the missed

pricings we have seen a lot of them suffer and that's sold off. they have all sold off so these are are those missed pricings that we like to take advantage of if we focus on china there's a lot of discussion about the market volatility and rekrentd economic data tells us about the health of the consumer and the manufacturing number highlights the pressure on growth that the country is grappling with or do you think the consumer can stay healthy through it all or they'll be impacted by this? >> most of the pressure is in the manufacturing sector. that's no surprise. china cannot escape the global economic slow down we don't see

a pig impact and we don't think there will be a knock on effect but the consumer will feel the global head winds that hit the manufacturing sector. >> what will have a larger impact? china or the impending fed rate hike? >> it's a tug of war. china recently put negative pressure on what was already pretty weak sentiment in emerging markets. ironically this china-induced volatility and the knock on effect it's had on emerging markets could delay so-called lift off. you can see in the dialogue that's come out both from dudley and atlanta governor lockhart they're discussing the impact and ultimately the fed will do what they think is right given the domestic conditions in the u.s. but the possibility that a

september hike does not occur has increased. >> so the meeting at jackson hole just highlighted how divided policy makers are as to whether september is the right time to raise rates but do we think as market participants and journalists we focus too much on the timing of the first rate hike and we should be focussing more on the path to normalization? we know the fed's preferred path is a gradual one. if they have to deviate due to stronger growth, inflationary pressures, that's when it has more of an effect on emerging markets and all fixed income assets in general. >> i can't whether we're overdoing the link to commodity sell off. is it overdone? >> we think so in the margin. ironically if you look at some of the underlying import volume

data it's crucial to look at volume rather than price. because prices all come off. if you look at things like coal, iron ore, copper, crude oil, they're picking up on the margin and as a matter of fact it never fell off in china. it's been 8 to 10% over the past year and a half. we do not believe the oil story is a china story. it's much more a supply story. >> although oil prices are lower today. brent crude ended down 1.7%. we'll leave the conversation there but you stick with us here on worldwide exchange the aiib will not ask borrowers to privateize or deregulate loans. some are saying it opposes unreasonable conditions on some borrowers. >> now the venezuelan president says that beijing loaned the

nation $5 billion in order to boost it's oil outputs. now he said that the money will be used to gradually increase production over the coming months. reuters reported in march any loan deal between the two countries would demand chinese companies are hired in the extraction and refining process. >> the u.s. is urging beijing to be more mindful of how it communicates policy changes amid the global market turmoil driven by fears over china slow down and doubts over it's response, the white house has been critical about criticizing the moves later this month but concerns over china's economy and market volatility are expected to top the agenda when u.s. secretary jack lew and others meet in turkey on friday. >> now the impact of the china slow down on the german economy is one of the main talking points taking place in

frankfurt. well, carolyn is there and joins us now. good to see you. it did slow down a little bit in the first quarter but the big question is what happens in q-3 and q-4 as a result of the slow down and the market volatility that we have seen coming from china. how worried is the finance ministry about what's going on there? that's the question i put to him. >> the euro zone is doing well. most of our exports still go to the european countries and our neighbors and we have a very good economic development in

germany. we still do expect 1.8% of growth in germany. >> what would you identify as the biggest risk for the german economy? is it really china? is there anything else we're forgetting about? >> well, we're still a bit wondering why are we doing so well when so many regions in the world are in trouble but we just did labor market reforms and pension reforms and did a lot to get from 10 years ago to one of the growing economies in europe so germany is prepared as well for prices. >> so he's saying yes we're watching china very very closely but we're a little surprised by how resilient the german economy is to the turbulence coming from

china. we also talked about greece and we'll bring you that in the next hour. he has a very tough stance on greece. now after this third bailout has been negotiated and has been signed well it hasn't been delivered yet. it needs to be implemented. are there any question marks around thatt in the next hour. >> thank you so much. coming up on worldwide exchange, full stream ahead as netflix's global expansion gathers pace we'll tell you where the video streaming service is headed next. plus find out what super bowl winning quarterback tom brady had to say fresh from his deflategate court appearance and uber says it's not surprised about the latest court filing against the taxi app but find out why it could spell trouble for the sharing economy later in the show.

although the numbers came in above the forecast of 1% fall the drop in oil prices has taken a toll on the canadian economy just as the country prepares to

head to the polls on october 19th. >> meanwhile the aussie dollar recovered some ground after slumping on the back of weak second quarter gdp data. the treasurer said the economy was fairing better than some of its peers. >> at a time when canada and brazil are in recession the australian economy is growing at a rate that meets and beats our most recent budget forecasts. the diversity and flexibility of the modern australian economy is continuing to get us through the recent massive falls in commodity prices. >> switching focus to brazil, they'll decide later today whether to again raise interest rates in a tightening cycle that's risen 325 basis points since the 2013 election. the benchmark rate stands at 14.25%. one of the highest in an economy

still in contraction. now turn out has continues and was around half of the demonstration that took place in market. brazil dealing with a perfect storm when you take a look at weak economic growth. how do you navigate the factors. >> brazil has been a fairly big disappointment for investors we have seen how fiscal austerity and fatigue sets in. that's taken about a few years after austerity was put in. in brazil it sat in in less than a year. that's why investors are so disappointed. >> what are the main issues? what should the list of things to do be for the government? they have been engulfed in corruption. interest rate at 14.25%.

you have inflation issues. the protest, the commodity route. what should their to do list look like? >> fiscal consolidation is the real signal investors are looking for and they seem to have given up which is a cause for concern. it's raised concerns among the ratings agency. brazil is flirting with a downgrade to junk. the time frame could happen this year where it's unexpected and that's really where the effort needs to be concentrated on. investors want to see a cut back in spending. there isn't a lot of flexibility imbedded in it because so much of it is programmed and not discretionary and mandated and still they need to send the right signals. >> what is the impact on sovereign debt going to be if and when the fed rate hiking cycle starts? what's going to happen? >> it will have a minor negative impact but this is one of the

most telegraphed events in financial history. we have been expecting the fed to move more than two years now. the fed is almost the least of brazil's concerns. most of brazil's problems are home grown. the fed in china serves as a head wind but most of the problems come from brazil. >> very worried about when the rate hike comes. >> yes but despite the fact that we had lower for longer we had a 325 basis point rate tightening cycle in brazil. that's because of the inflationary pressures existing in the economy. >> why do you think they'll still be hiking in september? most economists, they don't think september is on the table as much as what it was in the past. of course we had fisher talking still leaving the door open but when you look at the volatility for one taking place, why necessarily risk it? >> no we think the risks have definitely diminished that they'll hike in september. the base case is that they hike

this year but it suggests that september because of exactly what you said, because of the additional uncertainty factors and what's happening in china and emerging markets they may delay lift off. >> so does that globally create a big opportunity for credit investors? >> it can and i think that's the safer part of the market to be in because that has clearly had a negative impact on emerging currencies and pretty much all currencies versus the dollar so yes it is probably safer to be in credit markets it remains very attractive. 7% real yields we cannot get that anywhere when we look at the local currency debt in mainstream emerging markets but we do think there's a lot of gems to be found in frontier markets.

it's one of our biases at aberdeen. there's a number of opportunities in africa or asia. attractive opportunities in asia as well mongolia. >> these companies both have issues at a corporate governance level but they are still very much the sacred cows respectively and we think that we're being compensated for the risk in those companies. >> thank you for being with us. head of emerging markets sovereign debt at aberdeen asset management. >> it's been a wild ride for oil with wti and brent down over 15% for the year but what if the dow tracked oil? well, robert has been crunching the numbers and this is how bad it would be. the index would be around 1,000 points below where it is now and between it's lows and highs there would have been a range of

nearly 8,000 points. can you believe it? the dow's actual range this year is a little over 2,600 but it's been really interesting to kind of track the correlation between oil prices and stocks a high correlation over the past couple of months. i still remember on friday the minute oil prices moved lower european stocks moved into negative territory and when they moved higher european stocks came back. >> although traditionally or historically it tends to be the other way around. i was looking back at the historical data and also you could look at it and say well a lot of the companies like chevron or exxon mobil yes they're off by 10 or 15% but it's nothing to what oil is off and you have to ask the question why. it's a tirges in opinion. why is oil dropping and is it going to last or not and does it do anything to valuations as well? commodity traders look at the short-term move but if you're going to be investing in the next round you're thinking

long-term and they have reserves enough to last them for decades. >> the price in oil prices over the last five trading sessions very interesting to say the least. yesterday oil prices were down 8% following a 25% rally over the previous three trading sessions so some really interesting moves. a combination of fundamental and technical factors at play. >> one hedgefund manager is betting on the price of wti falling as low as $25 for at least a month this year. he predicted the 2008 oil crash and told the ft that there was an overreaction to comments from opec and signs of slowing u.s. crude output. the market will remain oversupplied in 2016 and 2017 with wti trading at a range of 25 to $50. >> now where do you think the price of oil will be? what are you thinking about this morning coming into work as well? where were you going to be putting your trades at the moment. let us know.

join the conversation on worldwide exchange or get in touch by e-mail worldwide@cnbc.com or on twitter @cnbcwex or our personal handles as well. good morning, seema. >> good morning. >> just waking up. >> no, come on, we're up and ready to do this. september 2nd. stick around. here on worldwide exchange, asos shares shed half their value since the start of 2014 and now the ceo is stepping down. is the fashion retailer officially off trend? we'll be finding out next. don't go away.

hello, everybody. welcome. european equities opening higher after chinese stocks ride out a choppy session to end flat. the nikkei also pairing losses into the close. >> but another rise in u.s. oil stocks this as one bear calls for wti to hit $25 barrel this year. >> shooting to the top of the french markets after brussels is set to approve it's deal with ge. >> and shares in asos slide after the ceo rick robertson steps down saying his

replacement will have his work cut out. >> you are indeed watching worldwide exchange. let's take a look at european equities. disappointing data in china and the drop in oil prices sent european stocks lower in yesterday's trade here on wednesday relatively lower. xetra dax down 21 points. similar losses in france and interestingly enough italy bucking the downward trend. slightly higher by 22 points. it's the currency catching the eye of investors. in the month of august the euro gaining about 2% against the u.s. dollar. that's having to do with the uncertainty around fed policy weakening the dollar index and here on wednesday you can see the euro at 112 against the u.s. dollar so slightly weaker but the move to the upside, the

rising upward momentum in the euro that's been a big story here and the impact on commodities or commodities impact on europe. >> chicken and the egg. >> both trading lower 2 to 2.5%. we've had massive volatility as you would have noted from within the price of oil itself. higher in the region of 25% over the course of three trading sessions only to reverse that yesterday. big drops in oil although we didn't go back down and touch the low of $37 per barrel we saw a couple of sessions ago but still looking at selling taking place there in europe. >> citigroup is selling it's hungarian consumer operations. that's the word we're getting now. transfer of customer accounts is expected to be completed in the

4th quarter. citi to focus on expanding services to corporations and financial institutions. the financial terms of the deal are not material and it doesn't provide the financial details but the big story here is citigroup selling it's hungarian consumer operations the stock down basically .5% in today's trade. there's another stock on the move and that's asos trading lower on the news that nick robertson is stepping down as ceo. it's been a tough year and a half with a series of head winds causing a 50% drop in the share price since the start of 2014. catherine is joining us around the desk to discuss. >> yes and it's pretty unflattering. he's been that since last october since he was moved to

chief operating officer and he was brought into the business a few years ago and it looks as though what investors are thinking is is this enough of a new broom approach. they have fallen out of love with this stock a bit. it's trading at a pretty high valuation at the minute and as opposed to thinking this is a company we've been getting into thinking it was a digital or technology stock but at its heart it's a retailer and it has a lot more competition than it did a few years ago. it's had this big international expansion attempt to break into china and that didn't go well. >> let's say there's a lot of viewers that don't know asos. in the u.k. everybody knows asos. >> i hadn't heard of it until i moved to london. >> i hadn't either but they're big in the u.k. and they have a lot of opportunities online and they target the lower end of the fashion market with very quick turnover in terms of i don't

want to say copy cat fashion. >> fast fashion. >> whatever's on the runway on thursday is online with them on friday. >> it's been a popular model here in the u.k. but they don't seem to have quite been able to replicate that elsewhere. here it's almost as big of a brand but quite interesting looking at some of these u.s. relative success stories they're facing a lot of competition and how are they going to stay ahead of the game and when technology space is moving so fast at the minute. >> the stock opened lower and is trading down lower than what we're seeing currently. usually or quite often if you have a ceo stepping down or the shareprice has fallen quite significantly or you have a new ceo coming in, that hasn't been

it in morning. it's something someone that's been there for the last five or six years and already ready to shape the business. it's not quite enough if there had been an appointment from another technology company. someone that looked like they were going to really shake the company up and then there might have been a better reaction and the other thing is the new chief executive appointment is it does encourage people to look again at the stock and there may be a certain element of looking and thinking is this definitely something i still want to be in at this really quite volume price. >> it's not enough to be a retailer today. you have to be a retailer/tech company to be part of social media or selling online. >> you have to embrace the digital world absolutely as part of your innovation and marketing strategy. we'll leave it there. thank you. thanks for joining us. >> sticking with retailer, tesco

has chosen mbk partners to take over the south korean unit. it's as it looks to shed it's assets. meanwhile it's cut the prices on the stocks but says the south korean sale could be a number of catalysts. general electric is expected to secure the go ahead from brussels over it's $14 billion takeover of the energy assets of france's alstom. >> morgan stanley has given the green light for european stocks. they issued the first full house buy signal since january of 2009 with all five timing indicators hitting by at the toir. on average, equities rise 23% over the 12 months following the trough. we'll be speaking to graham joining us at 11:30 cet.

in the meantime we have henry dixon. thank you for joining us on a very interesting week for equities. traders returning to their desk and we've been seeing a lot of volatility and that wasn't just abaugust story. it could be a september story as well. >> there's no shortage of intelligent conclusions that can be drawn. anyone who felt, you know, european and u.k. equities were great value i think that's incorrect but the stories about china got worse and worse. the very simple thing for the chinese market from our perspective was, you know, six weeks ago it was trading on 24 times. there's only two points in history where markets got this expensive. it was the nasdaq in 2000 and japan in the late 80s. so starting valuation is everything when it comes to satisfactory investment returns.

i would suspect the chinese economy is performing as it was six months ago. >> does that mean we have more of a direction to go through. >> we saw a 70% fall in nasdaq and an 80% fall in japan in the late 80s so look, yeah, maybe down 50 isn't the right number. i mean, i'm very much so and in regards to the note probably the one thing that is missing is probably absolute valuations. we have been coaxed into this in regards to cheap money and we definitely moved away from attractions on valuations. >> but we have been seeing deleverages value at risk

selling. does this mark a fundamental shift in how you view markets going into the last few months of the year? the catalyst was a big deal. that definitely leads to very high correlations and very definitely leads to opportunities because when you see such highly correlated sell offs everything falls equally. rather frustratingly we see the scripts as being similar to how it was six months ago. we'd love to be talking about change of leadership here but the late cycle has been pushed out. it's really staggering. we can find nothing like this in the history books with the injection of cash into the consumer pockets in the western world. there will be big losers out of this. we haven't had a credit event

for a long time. so the big winners are u.k. consumers and you look at banks and real estate and ledger. you note policy makers are behind the curve. across the board it's bad. >> i wouldn't be so bold as to say i know they're behind. but as we look at everything today it's very very difficult to come up with. if you look at consumer debt levels and cash flow everything is better today than it was in 2006 and in 2006 interest rates were 5% in the western world and in this country they would rise by 25 bits to combat the inflationary threat posed by oil at $140. that was the narrative in '07.

now it's that rates cannot rise and i think that's something we struggle with. when we suddenly all collectively realize what are interest rates doing should they not be near a 5, that will be what unfolds in 2016. >> could they raise rates before the fed if the u.k. economy suggests this underlying economic recovery is gaining momentum? >> they could. you look at the u.s. economy which is probably -- because of its size is probably way more conscious of what's happening on a global stage where mark probably does look in a little bit more and he'll look at the u.s. story which is consumer cash flow. we have unbelievably strong wage inflation now. we have a policy-lead wage inflation and this filtering town all the way rates need to

go up. >> morgan stanley with the full house buy signal and they have timing tools and they're all saying buy equities. so you agree with this? >> yeah. the only one thing missing is absolute value. >> but if we put absolute value to one side i think that's all pointing to quite a bit of distress and therefore you definitely do look upwards rather than downward on a six month view and asset markets will be higher. >> you're not scared by the wild swings we're seeing right now? >> no, august say good month for wild swings and the key catalyst was the fall in the chinese stock market and we keep coming back with valuation. if you're paying 23 times for a index in aggregate you'll lose

money. >> thank you. coming up on the show, market melt down? optimism stands at a three year high. find out why, next.

hi. welcome back. you're still watching european closing bell. our european markets most of them having tipped into negative territory. we opened flat to higher and two hours into trade we're flat lining a little bit. the ftse mib still hanging on to flat gains. >> we saw the dow lose over 400 points in yesterday's trade. that was the worst start to the month of september since the year of 2002. so significant moves to the downside overnight on wall street. the dow holding on to 16,000 but dropping 469 points nasdaq down 140 points. here's a look at futures. what can you expect? maybe a relief rally.

dow with a higher open. nasdaq up 40. we'll talk a little bit about tech. one story is uber. a u.s. judge granted class action status to a california case against uber over how it's drivers are paid. the ruling increases the number of potential plaintiffs in the suit which claims drivers are incorrectly classified as independent contractors versus employees. uber could be on the hook for significantly higher damages if it's loses. in a statement uber says it's not surprised by the ruling and it will almost certainly appeal. u.s. auto sales posted the best month in ten years in august driven by strong demand for trucks and suvs. phil has this report. >> reporter: august turned out to be a red hot month for auto sales with almost every auto maker with better than expected sales. while these numbers may not seem impressive a gain of 5.4% from

ford was actually double what most were expecting and even toyota a decline of 8.8%, many were expecting sales to drop 12%. what was selling last month? the same thing that's been selling for the last six months. trucks and suvs. jeep sales up 18% last month and general motors is in the sweet spot of the market right now. truck and suv sales up double digits last month and the average transaction price up $660 for general motors. one reason why general motors is posting strong profits in north america. that's expected to continue following the report of august sales being relatively strong this sets up a strong fall and winter for auto sales. we'll see them easily top 17

million but nobody is forecasting the oversaul sales pace for the year to top 17.4 million which is the record for the united states set back in 2000. august auto sales are better than expected for almost every auto maker in the united states. that's the story from here in the u.s. back to you. >> now if you think the volatility in global markets but the brakes on entrepreneurial spirit, think again. almost 2-thirds of the small businesses they have spoken to are optimistic about the year ahead with u.s. respondents being the most positive. he's the ceo and joins us. welcome. >> good morning. tell us about your findings. >> we have been doing the survey for several years speaking in the u.k. and u.s. and mainland europe. this has been the most positive we've seen in that period. the americans have always been the most positive but actually most impressive have been the

spanish small businesses that three years ago were the most depressed. the most fearful of the future are now even more positive than the americans so there's no doubt that they have come through the european crisis and they haven't been deflected by the problems in spain. they're growing. some of them are looking to hire new people which must be good for spain. >> what type of questions do you ask, though, and how do you know that they are, in fact, for the longer term that they're more positive to see them through whatever they have to do in order to get back to neutral? >> we ask them about sales. we ask them about profitability. we're asking them about recruitment intentions and about access to finance. so we ask the same questions year after year and then you do get a trend coming from that and it's interesting to see but there's no doubt that there are tensions and outlook that are good. the biggest constraint is always

access to finance. the interesting thing in the survey was 15% of people were planning to fund their small businesses using credit cards. only 16% from banks. that's pretty unusual that's not a good source of funding. >> funding from month to month in terms of doing that but it is a real change but the positive attitude, market volatility we're seeing now we don't think will have much effect in the short-term only one in five are in the market. they're really interested in the domestic economies they're in. >> do you think at some point volatility will impact the consumer? in the month of august we saw the vix hit it's highest level in six years indicating that there is more fear in this market. >> there is but as the previous speaker said oil has gone from $140 barrel to $40 barrel, that

puts a lot of changes in people's pockets as the price of fuel comes down and that's what drives whether the consumer has money to spend and drives more business. >> in areas like spending, i still think it's fascinating if people are funding themselves via credit card then that could also be interpreted to be quite desperate that you've had to start your own bakery or something like that that you're having to live hand to mouth by month to month on a month to month basis. >> there is. interestingly enough in spain access to bank financing is better than elsewhere. it's tougher here in the u.k. so the banks themselves want to help but they're stuck between this challenge on the one hand, the governments want them to lend to small business and the regulator wants them to put out more capital to be less risky and the small businesses are suffering. >> what are some of the core european economies like germany

and france? >> we're seeing good growth in that business. it's grown by 8% for the last five years. we focus on small businesses and ensured 40,000 more small businesses this year than last year. >> thank you for being with us. >> thank you. >> how do i say your last name again? >> netflix launches in japan today marking the first step in it's expansion into asia. the company is working with domestic japanese tv broadcasters to produce original content. they plan to launch in every single global market including china and india by the end of next year. >> amazon is trying to one up netflix. it's now letting prime members download select tv shows and

movies to their iphones, ipads and androids to watch off line whenever they want. it includes hunger games catching fire. have you seen that? >> i read all the books. >> i was told it was quite violent. so i haven't seen it yet. original shows like transparent being part of that too. >> cbs will live stream some regular season nfl games the action starts with the game between the jets in london. the carolina panthers and dallas cowboys will also be streamed. >> i'm going to stream it for sure and watch it backwards in slow motion from my hand held. i love football. absolutely love it. >> i can't figure out if you're being sarcastic or real right now. >> simple and uncluttered. >> i like sports. >> simple and uncluttered.

that's how they describe the new look. >> i don't like it. it's too boring. >> it's the biggest redesigned since 1998. toned down smoothder features in san surf. >> it's a type of font. >> yeah. the new logo reflects the people hah interact with it's products and will help better navigate across platforms. so somebody has come into their local department and said we need a revamp. >> they do need one now with alphabet in the story. >> you tend to see these every couple of years for companies. >> sticking with tech, two months after the launch of apple's beats radio, ian rogers has quit. he is moving to luxury retailer lvmh to head up the digital team. this comes at a time when more executives are moving between the tech and luxury retail worlds. so a very interesting

development there. we saw of course angela leave to become the apple retail head and now you have the opposite happening. >> again. retail like we were just talking. >> yes. >> mixing over. still to come, here on the show, well, we tell you why morgan stanley has issued a full house buy alert on european stocks. the first since 2009. you can find us on e-mail -- worldwide@cnbc.com and also on twitter @seema cnbc. we'll see you after the break. >> thanks.

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welcome, everyone to the second hour of worldwide exchange. >> these are your headlines from all around the world. >> shaping up for a rebound. u.s. futures indicate a triple move higher for the dow but in european equities giving up gains following a mixed session in asia. >> oil still in retreat after another rise in u.s. crude stocks. one bear calls for wti to hit $25 per barrel this year. >> reports suggest ge could be about to get the green light from eu regulators f