a very warm welcome to worldwide exchange. >> these are your headlines from around the world. >> we're moving into the next bubble. this as european markets dip into the red. >> oil reverses some of yesterday's gains as goldman slashes it's brent forecast but updates total and bp. >> a victory for president obama. senators knockdown a resolution to block the iran nuclear deal.

his king tentatively supports the measure. >> they still want to see verification before any action is allowed to relieve the iranians from embargoes. so skepticism is par for the course in this situation. >> it's not enough. germany's vice chancellor says it's just the first step in solving europe's refugee crisis. telling cnbc on a first that the eu can find a solution without financial penalties. >> in europe we have the habit of negotiating and finding compromises without having to go that far. so i'm pretty confident that we can sit around the table and find the right arguments without having to speak of punishments. welcome to the show and a

very happy friday to you as well. we're just getting the monthly oil market report hitting lows. supply overhangs grew and concerns deepened over the health of the global economy including china. it's expected to climb to a five year high in 2015 and they said that the big story this month was one of tightening supply. those demand supply dynamics almost at odds with the fact that we hit six year lows. they did say that opec continued to pump vigorously with saw day rab i can't, iraq and the uae producing at or near record highs. that had an effect. also the fact that oecd oil inventories swelled by further 18 million barrels in july to 2,923 million barrels.

despite headline demand and supply being in support of oil prices opec and inventories are why we hit that low. now on the topic of oil price, goldman sachs slashed it's 2016 forecast for brent to $49.50 per bar real down from $62. opec production surprised sharply on the upside. the firm has upgraded it's view on europe's energy stocks from neutral to cautious. goldman also raised total to a buy and bp to neutral. those are the latest calls from goldman sachs. let's check in on broader markets now in europe. susan. >> let's take a look at the broader markets. what's happening at the european session so far. after europe snapped the three day winning streak yesterday we're continuing the losing ways

into the weekend. we're lower by .4% and this is after a pretty wobbly asia session we just came off of. gains yesterday in the u.s. let's check in on the weekly performance of global equity benchmarks. let's see what's happening in europe this week. it's not bad. we're seeing gains so far but pretty light volume. that's the story across asia and also in the u.s. as well. i want to highlight what's happening in japan because for the week we did see gains of 2.5% and on friday saw declines. this is despite the fact that we saw that quarterly survey and most of japan wakes up and listens to what the survey tells us and we just see of course that record breaking session this week when we saw a gain of 7%. the largest points gain since 1994. largest single percentage day gain since the early 2000s.

now let's flip the page and show you what's happening in us. markets. we're heading into next week which is very crucial when it comes to what the fed will be doing. their monetary policy at the 16th to 17th week meeting. we did see some gains this week. not much to write home about and people are wavering in terms of what news flow comes out in terms of how it's going to influence the monetary reserve but the talk has to do with the billionaire hedge fund manager. he told our colleagues state side on u.s. squawk box that he's getting cautious when it comes to equities. >> i'm not as bullish as i could be because i have problems with earnings growth and multiples. all kinds of problems. i don't i can't call myself a bull. however if you invest today in a stock market and people said in 5 years if earnings grow a little bit, 5.5% a year or

something like that, you all make money. >> so also adding to that germany's finance minister raised a red flag over excess liquidity in the market saying we're nearing another price bubble. i'm interested in this. he's saying that we are moving closer to a price bubble. i think we've been in one for quite sometime given this extraordinary six year stimulus we've had. recently we had a big correction. the size of it, the volatility of it, the speed of it surprised everyone but when we look at the last six years or the last year or so it's not that surprising that we're getting pretty volatile moves at the moment. we had the stimulus and we're getting closer to it being removed. >> it's been how many years now? untested times. nine years we haven't had the federal reserve raising interest rates. that's something that david tepper mentioned in that

interview. i watched it intently for an hour. he is concerned about the draw down in flows and it's hard to trade in these volatile markets right now but if you're all cashed in in equities he would take it off the table. if there's 20% he would be buying. >> we have had a bit of a correction. if we remind and think why we had that. in the short-term it appliesless so but relative to everything else they look attractive. it was a relative argument compared to a bond yield 7% -- >> but they were still buying bond though. equities look nice because relative to other stuff they aren't and relative arguments are all well and good when there's confidence in markets

and we had a mark which was probably china. that made people fearful again. on absolute levels that's why we saw a correction in equity markets. people thought they might have been attractive regular. but we had this massive rally over six or seven years and massive stimulus. >> what's a 20% correction anyway. we've seen that multiple times and people should not be scared, right? it's not irrelevant in his view that the federal reserve does raise interest rates by 25 basis points. the eu thinks they will do it but does it change the entire equity story and the picture? it's not irrelevant but i'm not sure that it moves the needle that much. >> no, a agree with that. it might scare some investors. we'll have to move on for now. we'll continue these debates throughout the show. let's check in on how asia is trading today. pauline joins us from singapore.

>> asian markets ended mostly lower today. as you can see we see more red than green across the board. the reason, caution ahead of the federal reserve decision for next week. let's start with china. the shanghai composite on the flat line. just ticked up slightly. we're expecting important data out over the weekend. cpi -- retail sales rather as well as fixed asset and industrial production. this is on the back of numbers received earlier this week where we saw that ppi continues that downward trend which underscores that concern. we did have our focus on toshiba that ended down 3%. japanese regulators were launching their own investigation into financial irregularities. this after they announced that they misstated their numbers for several years.

down .5%. it was financial stocks and resources weighing down the share market there and the central consensus is its more of the fed than china that pulled down the share market. we have a couple of central bank decisions that made headlines today. the bank of korea held interest rates at 1.25%. as expected, down by 1%. finally i want to draw your attention. it's still up and running but the bank and the central bank there is expected to issue it's central bank decision for interest rates in about two hours from now and the expectation is it will hold steady at 3.25%. >> thank you very much for that. now the migrant crisis is expected to overshadow today's meeting of european finance ministers ahead of the euro group meeting this weekend. let's get out to julia live for us and as ever on the pulse of what to expect.

julia. >> it's an informal meeting, remember. but we're going to be grilling them on whether or not they can give us the sense of the immediate problems in the migrant crisis when they meet in brussels on monday. even if they use it in the short-term to reduce the burden on the likes of italy, greece and hungary that are at the forefront of the crisis the question is whether or not this works longer term or emphasizes it across the eu. listen in to what the finance minister had to say when i put this to him. >> the discussion is evolving very fast. the german chancellor announced that germany was keen on taking quite a few of those refugees above even the quota that was being discussed.

that's, i think, already quite important. the second is that we must all realize that the number of rev y -- refugees that are coming, they sound impressive if you compare it to the population of the eu which is above 500 million people. those numbers are not insurmountable. in turkey there are 2.4 million refugees so you can compare that with the numbers that are coming to europe. so i think we have a responsibility here that we have to take and we have a lot of explanation due to our population. >> are you in favor of financial penalties for countries that don't play their role? do their part? >> well, this is an issue that has been raised. in krueurope we have the habit negotiating and finding

compromises without having to go that far. i'm confident that we can sit around the table and find the right arguments without having to speak of punishments. >> so you're not expecting financial penalties to be needed or used? >> no, i am confident that we can avoid that and that the spirit of solidarity is becoming stronger over europe will prepare. >> the commission president's plan didn't emphasize the need for a quota system but this idea of separating those that are economic migrants from those that are legitimate refugees. in the first seven months of this year 200,000 asylum requests were made. 40% of those from balkin countries. so not considered crisis countries and refugees although not on the safe list of countries so they can be turned back at the border and remaining in these countries for a year or so in order to process and then deport them. i have an interesting chart just

to see how quickly they manage to deport those whose requests they declined. greece and france the least efficient at dealing with the crisis and two countries in europe dealing with difficulty as far as populous parties and using the refugee crisis as ammuniti ammunition. i have a chart to illustrate those issues but when i picked up on this point and the idea that germany has the lowest unemployment in the eu. it has the cash available to address this crisis, aren't they better positioned than most other countries to step up here, he gave me a bit of push back. listen in. >> i would not under estimate how difficult it is to integrate refugees into a country.

there are are language issue, mentalities that are not the same. saying that it is easy because germany has a low unemployment rate is really reducing the debate to a level which is not appropriate. you have finance issues and defense issues and social issues. when you see in germany the population reacted very positively you see that this humane reaction is very conducive to finding solutions. >> so what about the crucial aspect of cost? he put some figures to this. 0.3 to 0.4% of gdp for germany. overall for the eu we're talking around 0.2% for the second half of 2015. same again for 2016 in terms of demand response. not a negligible amount of money but surely stuff that europe can cope with. back to you guys. >> thank you.

coming up on worldwide exchange, it's back to school season as the summer heat fades but the sun is still shining for us. retailers. stay tuned to find out which ones and why exactly. also chauffeur free taxi services. also an emotional display from u.s. vice president joe biden but will he or won't he? we'll discuss the race for the white house later on in the program. if your purse is starting to look more like a tissue box... you may be muddling through allergies. try zyrtec® for powerful allergy relief. and zyrtec® is different than claritin®. because it starts working faster on the first day you take it. zyrtec®. muddle no more™ .

no hands. we're reading without using our hands and that can be applied now to cars as well. honda has received a permit from california to start testing it's driverless cars on public roads. it joins a list of companies angian ranging from google to volkswagen. they have secured a testing facility near san francisco. >> can we come back on camera and have wilfred do it again. >> there we go, nice. >> all right. so uber wants to be at the forefront of the market when it comes to driverless vehicles. if tesla can build them, build

these fully functions automous vehicles uber would buy them. the ceo was on saying that self-driving cars are the future. >> tesla is doing the driverless thing, apple is doing the driverless thing. so the question for a tech company is do you want to be part of the future or tow want to resist the future and we feel that in many ways we want to not be like the taxi industry before us so that's how we think about it. >> and we are asking you would you refer your taxi to have a driver or not. if you want to join the conversation get in touch with us. >> what's your call on that? >> well, i have to say it's nice if you have a good conversation with a taxi driver if you're

talking about the football results or whatever it might be but in this modern day -- >> safety first. >> i'm assuming that they're not going to hit the road until it's safe but when you have smartphones you can be working and chatting with people on the drive so if there isn't a driver and you get on with that that wouldn't bother me. >> i wouldn't mind a driverless car especially in the morning. you don't need to talk at 5:00 in the morning with any driver. we have an e-mail address for you to contact us on. worldwide@cnbc.com. via twitter as well. our handles are on the screen for you to get in touch as well so you can talk directly to wilf and ask him what he was doing with his hands earlier on. >> i managed to get over to the wall without using my hands. just my feet. bond marks. it's not a massive move but the u.s. ten year yield ticked up. we started the week at 2.14%.

not a massive move but ahead of the fed meeting rates ticking up a little bit. are we expecting a rate rise? we'll discuss that throughout the show. the u.k. 1.87. a little sense of hawkishness yesterday. we saw sterling strengthen a bit and yields tick up just a fraction more because the vote was 8-1. only one person saying we needed a rate hike and expected to be 9-0. commodities as well, crude and brent on the slide. both off about 2% today and forex rates as well. the euro and the yen strengthened throughout the course of the week. the euro was 1116. it's now just shy of 113. we're back to that trend of the euro and the yen acting like the safe haivens. >> i'm going to throw in what's happening in south korea as

well. every economist thought the central bank would keep rates on hold. that's what they did saying another rate cut is unlikely any time soon. he expects the u.s. federal reserve to hike interest rates by the end of 2015 but declined to predict which can exact month they were going to do it in. let's stay with currencies and monetary policy from asia. malaysia central bank is also expected to hold rates when it announces it's decision later on today and let's talk about emerging market currency as we have our next guest joining us. there's been significant exposure to china like malaysia and malaysia is interesting because it's heard by not only in china but the u.s. with what the federal reserve is going to do as well. >> yeah, those currencies acceptable to those kind of

things. let's bring in the head of g-10 research. the risk asset type currencies, is that more related to china or the prospect of a fed rate hike? >> a little bit of both. they're responding to those in a different way. they're among the biggest losers in the last month on the back of the trade exposure to china latin american country sys were underperforming on the back of fears that the fed will be hiking before long. all of that leading to global tightening and investors worried that given the external balances and current account deficits they'll be facing difficulties to fund themselves on a regular basis. hence the downgrade to junk not

too long ago. those drivers making less attractive investments. >> a funny little thing happened last night. they went into the offshore markets and started defending their currency because they thought the chinese yuan was a little weak and people were going one way once again. let's surprise the market strengthen it a bit. they want to allow the markets to play greater and yet again there's evidence that they may be less reluctant to let it out of their control just yet. >> it was unusual. >> certainly. the depegging of the un, introduction of the new fixing mechanism where they'll be using the market close. the previous day was hoping the markets will be playing a

greater roll. that's after offset. it may trigger further outflows out of the chinese stock market and out of capital outflows which could destabilize the economy, ultimately. especially as going through the mainful transition. so they'll be trying to balance and move the economy forward. >> we have about a minute or so left. i know that you think that still weakness to come in currencies if on the tips there were buying opportunities which would you pick out. >> if you look at the pattern of trading so far, clearly you want to avoid china for now. expert exposure to china used to be avoided. that is when it's stabilize overnight. that need not be a buying opportunity as yet so long as fears are there and the other no go is the current account deficit currency so from that

point of view if you want to focus on currencies, some with more favorable balances and i would say relatively speaking vibrant growth like the us but also the euro zone, domestic demand at the moment so they don't look that bad at the moment. >> still to come on the show, in a few hours time we'll mark 14 years since september 11th. moments of silence will be held at the new york stock exchange and nasdaq at 9:25 eastern and cme at 8:18 a.m. and 9:28 a.m. we'll be back in a couple of minutes.

we are moving into the next bubble warns german finance minister. >> oil reverses some of yesterday's gains as goldman slashes it's brent forecast but then upgrades total and bp sending their shares higher. >> a victory for president obama as senators knockdown a republican resolution to block the iran nuclear deal. he tells cnbc exclusively that

his king tentatively supports the measure. >> they still want to see verification before any action is allowed to relieve the iranians from embargoes. so skepticism is par for the course in this situation. >> it's not enough. germany's vice chancellor says a quota plan is the first step in solving the crisis. the eu can find a solution without financial penalties. >> in europe we have the habit of negotiating and finding compromises without having to go that far so i'm confident that we can sit around the table and find the right arguments without having to speak of punishments. >> let's check in on european markets and how they're performing on the final day of the trading weak. a second straight day of losses

after european markets snapped a three day winning streak yesterday. let's flip the page and check in on the euro stoxx 50. we're looking at close to a sell off of 1% and we have to take a look at other asset glasses as well, wilf. >> let's take a look at bond rates. the u.s. ten year note above 2.2%. it's been rising steadily the yield during the course of the week but nothing too pronounced. still above 0.7-on-the german ten year. the forex as well, a positive week for the euro and the yen. so we're back into that slightly odd position for the last month or so where the euro and yen have been trading. it's been strong as well particularly against emerging markets. just mentioned sterling as well that popd up yesterday. no change in the interest rate but slightly hawkish tones

allowing a little bit of strength in the pound. 154.3. a small reprieve from the rouble which rallied off it's record low in august. this after it shed 40% off it's value since may. the central bank grappling with high inflation and recession is expected to keep rates on hold at 11% later today. joining us now is the economist. thank you so much for joining s us. as we said, consensus for no change in rates. ideally would they be cutting rates if we hadn't had this latest route of rouble weakness? >> yes we expect no change in the race today and it would be a very boring story with the central bank decisions in the rest of the year. in the best case we could see a 50 basis points cut the rest of the year in rouble remains well

behaved but if it remains elevated this is likely they'll see no change in the rates until the rest of the year with more easing coming in 2016. generally we would expect it to increase by 7 or $8 billion to help the redemptions but as lower rouble today comes with low oil central bank is unlikely to take any steps to maintain this weakness. >> let's talk about that oil price weakness and how it's effecting the economy as a whole. very sharp declines over the summer but is it hurting the economy as much as it did late last year. has that official shock from oil prices already arrived such that this time around it's not quite as damaging?

>> yes oil price environment means another world for russia and we see a big contraction of growth of minus 4%. rouble moving to a new level of 60. previously to austerity. it's a year of adjustment when russia moves to new oil environments. however we think that it's enough for russia to adjust to an oil price. if oil stays in 56 in the next year then it's likely we see in continued contraction in russian growth. so any bad scenarios for russia for next year could come to us only if oil comes to 40 and stays there for the next 12 months but we hope this is unlikely at current stage. >> okay. well, let me just ask you quickly oleg, brent is expected to be at $40 going into goldman

sachs today. what happen ifs the fed does hike interest rates next week? >> so it would be a mutual decision for the rouble and the markets. we don't think that central bank would take any decisions that market does not expect today. no room for policies and they'll need the current space for any rate hike so we would expect extreme scenarios so we think the market dynamics would be there. >> thank you so much. let's talk about saudi arabia and saudi arabia's prince criticized russia for its reported military role in syria. you just spoke to the prince yesterday. >> i did. he had a lot to say. he was talking about iran and syria and russia and what was interesting about that is we

haven't heard much from saudi officials or insiders about that developing relationship between the russians and not just saudi arabia but the full gulf states as well. there's a lot of foreign investment from the gulf states and saudi arabia as well and i asked what does that mean for the future of those relationships. take a listen. >> russia is trying to reemerge as a world power and the kingdom told russia we can have a very beneficial relationship between us because there's many things we can agree on. for instance, terrorism. and russia has a sizable muslim minority among it's people that we would like to see enjoy the benefits of peace and tranquility rather than being

pulled by these groups that appeal to the young people. but all over the world. we see some young people going toward these groups. so that's something we can work on. >> is it worrying to you? these recent developments? more russian military moving into syria? >> absolutely and it's a huge, huge mistake on the role of -- for the russians to make that decision. they should be conciliators in that fight. rather than taking sides. they have taken sides with assad who is killing his own people. that's reflecting on their popularity throughout the muslim world. >> so he's there talking about

the situation in syria and talking about backing assad is not the answer. although we heard that's something that the gulf states would be open to if iran were convinced to get out of syria they might let assad stay. but he told me that's not something he has heard and not up for discussion. >> thank you as ever. i want to bring the focus back to sterling. we had u.k. construction data that disappointed. construction output falling by 1% for the month of july which was against forecasts of a pick up. the figure was down 0.7% compared to a forecast of a rise of 0.6%. so we're getting a fall versus expectations of a rise. sterling, as i said, did strengthen yesterday a bit off the back of the mpc meeting and

ever so slightly hawkish comments but undoing a little bit of that today. we're now just below flat, 15434. >> turning facebook likes into hard cash. we'll hear from a professional tweeter. a professional tweeter. i wonder how much hard cash he makes. and he'll tell us how brands can extract value from their social extract value from their social media following.

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welcome back. let's look at specific stocks in europe. they failed to agree term with the european competition regulator to merge it's banidan units. down over 1% each. it's negative for denmark's market leader which says it could struggle to uphold it's dividend. that's down the most. 5.2% and the stock now is the worst performer across the stoxx 600. for the sector as a whole, weakness across the board. >> i want to talk about something unusual that took place when it comes to the offshore chinese yuan markets.

giving up some of its gains following a record jump on thursday. so the offshore currency appreciated. dealers are thinking this is rare intervention on china's state banks acting on behalf of the pboc and that pushed up the price by close to 1.5%. speaking to cnbc yesterday, david tepper outlined his views on the market volatility stemming from china. >> they keep making policy mistake after policy mistake after policy mistake over there. it's a learning curve to get on to the market economy. you could say that and maybe one day they'll get it but it's hard when you have somebody on a learning curve. it's good when somebody is a one or two trillion economy. it's bad when they're 10 or 11

trillion dollar economy and influence the world's economies it's bad for them to be on a learning curve. >> china overbuilt a lot of things he says and for 17 years that currency was a one way bet which was to strengthen versus the u.s. dollar. he loves talking about flow and where flows are going. his view is that china is growing at maybe 3 to 4% real growth and his concern is maybe they're not growing at 3 to 4%. >> there's so much consensus that even if it's not the 7.1% that it's only .5% lower. for me the biggest issue in china compared with consensus in the market is the belief that it can settle each year from 7 to 6.8 to 6.5 and the fact that at some point there's not just a binary change because, you know, companies across china, they have been supported by huge state investment, huge stimulus

and super normal growth of 8% and 10% and there's a point where when that falls away it's not just 1% fall in profits for that company, it's b binary. >> can i make the argument that maybe the smaller companies might go bust but the state owned firms given how much government help they have, $3 trillion in the bank i wouldn't be expecting any bankruptcies there. >> no and i would agree with that as well but this transition from investment led to consumption lead is a big one. >> you're a china bear. >> it's a good thing in the long-term but it's a painful transition and one of the toughest economic experiments ever targeted by a massive, massive economy which has debt to gdp and is still rising. you want to do that with monetary policy flexibility to smooth over the creases but

we're already coming to the end of their ability to be loose. >> my argument to that is that a lot of the debt is china health. so it's insulated from the external markets and they keep pointing to the fact that we have 3 trillion in the bank and they can and they have been. but do they want to unleash all of that right now? not necessarily. >> i realize that. the reserves is a massive fall back option. we have had the liquidity taps on in china for the last year or so. it's not having that much effect anymore. we point to slowing gdp and we point to lower exports and impor imports. it's the lending numbers that highlight that monetary policy now is not really working. not that i think they want to raise more debt but it isn't really working and what's the big lever that's left? it's fiscal policy. going back to the investment lead things that people have been so critical of. >> they're trying to try it out right now. let's talk about elections and they're heading to the polls

today in a hotly contested vote seen likely to test the ruling parties 50 year strong holds on power. sri reports. >> red, white, and bluche, settg the stage for a election in a significant year for singapore. >> it's not a destination. it's the start of a new chapter. so at the start of a new chapter we should pause and ask ourselves how do we go forward from here? and that's why i seek a new mandate at this key turning point in our history. >> the 2011 election marked a distinct shift in the political landscape with lee and his ruling people's action party only securing 60% of the popular vote. while the party addressed many of the concerns since the last

election, housing, pensions, and the economy remain front and center in the campaign. >> perhaps the most hotly contested and controversial issue will be over immigration. between 2006 and 2014 singapore's population increased by an estimated 1 million largely thanks to government policy to loosen the rules on immigration. the repercussions, domestic friction over jobs and pressure on infrastructure. this election is also the first time in singapore's history where the opposition is conte contesting all 89 seats. many hope this will put in place the checks and balances the island states needs. >> singapore needs, desperately needs democracy. without democracy they cannot protect their interests. we cannot move our economy forward. >> it has become complacent. >> whether it's change or

continuity that they'll vote for the result will likely be a game changer. >> for the first time, the young leaders are going to work from a clean slate because they will have very little to do with the era that's effectively ended. >> and it's the success of the next generation of leaders that will take singapore beyond sg 50. >> labor leadership candidate says if elected as prime minister he plans to implemented a windfall tax of profits to recover state assets. he aimed his comments around the rbs stake sale. the government took a 1.1 billion pound loss on its shares in rbs when they were sold last month below the price the government paid for them. >> hundreds of thousands will take to the streets in barcelona pushing for catalonia to break away from spain. this comes two weeks ahead of an

election crucial to the movement. parties need to win at least 68 seats in the 135 member regional parliament. they're on track to win a slim majority. >> the northern ireland assembly has been plunged into crisis with the resignation of first minister peter robinson and all but one of his unionist allies. this comes on the back of an arrest and release of a senior politician in connection with a murder linked to the ira. david cameron and the prime minister urged fresh talks to calm the situation. >> google will roll out it's payment system android pay today. the app will position itself as a direct competitor to am pay which launched in october last year. the service will work with most major credit and debit cards and does not require a fingerprint

scanner to complete the purchase. the u.s. military's biggest supplier of rockets will wrap up energy work with blue origin. ula is considering a $2 billion cash buyout offer from california tech manufacturer arrow jet. >> photo sharing site instagram announced its expanding into 30 new territories and the amount spent on social media advertising, i don't need to tell you, it's on the rise but many still remain skeptical as whether companies investing in social media should get value for their money. let's talk to someone that gets paid money to advertise on social media. we have david joining us here in our london studios today. >> good morning. >> good morning. i have a question. what profession do you have on your business cards.

>> yeah. i have been a professional tweeter for a few years. it's hard to believe but it is a real job. >> what is a professional tweeter? we are professional tweeters? >> yes, i've seen your huge twitter following but i tweet on behalf of brands and tv shows and things. >> are there simple things to make them effective? >> use lots of puns. particularly bad one. keep it short. 140 characters may seem short but it shows that tweets with less than 100 characters get more shares. include images and videos. be human. which sounds like a strange thing to say to two humans but people on twitter like to follow people even if you're tweeting on behalf of a brand or tv show. >> does hinges change if you're trying to get different out comes? if you want a click through for someone to buy versus more

followers or whatever it might be, are there different tactics you apply? >> sure. a lot of it though still comes down to the personality of it and the tone of it and just -- it's a place for brands and businesses to let hair hair down a little bit more. >> how important are hashtags? >> they are overused. on there the other night someone said i'm out having a great #evening. well i'm not sure people are looking on twitter for who's having an evening. >> we have your twitter page on air right now. that cover photo of yours. was that -- >> wow. >> that's reminiscent of burt reynolds in the 60s. >> i remind you of a young burt reynolds. >> maybe tomorrow i'll update mine to something similar. let's see what happens this weekend. twitter versus facebook versus instagram, which is most useful?

>> each of them have different value and different things that will help you. personally speaking i'm a fan of twitter and i suppose because i have been on twitter more than about 99% of the rest of the world for the past few years but there's something great that happens on them but all of them have different value and it's worth if you have the time and resource to do it to use all of them. >> so twitter works for company advertising. what about the company itself? it's been a long struggle for them to get into positive earnings area. why aren't they making more money themselves. >> i can't speak on behalf of twitter. i think i feel like they have been less aggressive with their approach to monetizing content than say facebook which personally speaking i suppose that's part of why i have enjoyed it and facebook can be quite money focused now although that also has lots of great opportunities for brands but

from what i see they have a lot of things new and coming up soon that will change that and with their top focus on video platforms and now they have periscope and live streaming environment. >> i want to interject because we're running out of time. this has a business implication. i'm just wondering, how much do you get paid for some of these campaigns. >> wow. well, just fractionally under richard bransen i would say. compared to traditional advertising. >> i suppose earning quite more than what i was doing as a freelancer. so i would urge you all. >> the most exciting thing that's come out of this is you have just encouraged me to the disappointment of my producers which is to make more bad puns.

>> similar cover photos as well. >> you should do it. >> great stuff. it's been a real pleasure having you on. thank you very much. the creative director of that what. >> you're going to stick to that? >> more bad puns? >> i want something like that tomorrow on wilf's twitter page. >> there has to be more fur and topless. >> i don't promise that that picture will stay on my top forever but i'll do something like that this weekend. >> we'll get a break. stay with us on worldwide exchange.

happy friday. welcome to worldwide exchange. i'm susan lee. >> i'm wilfred frost. here are your headlines around the world. >> we're moving into the next bubble warns the german finance minister. this as european markets dip into the red with the u.s. set to follow. >> oil reverses some of yesterday's gains as goldman slashes it's forecast sending shares higher. >> a victory for u.s. president barrack obama as senators knockdown a republican resolution to block