these are your headlines from around the world. >> european stocks jump on janet yellen's strong message. the fed could still hike rates this year. but the chair feels weak and needs medical care following her speech. >> for most fomc par gattticipa including myself we think this will entail in increasing the

rate this year. >> more heads are expected to role amid a growing pile of investigations and lawsuits. >> abenomics under pressure. prompting talk of further easing. >> get in line. apple fans form queues as the new iphone 6s goes on sale. >> good friday morning. i'm susan lee. coming up on the program, a nice seafood dinner but will he call back. it's lobster on the menu as president obama and president xi jinping meet up in washington defendant d.c. >> and is this the end of the line for the flash crash.

and find out how nike is staying ahead of the pack when it comes to sales. >> welcome to the show. now the federal reserve continues to hedge it's bets. speaking last night, chair janet yellen said the fomc expects conditions to be right to raise rates this year but caveated that by saying if the economy surprises to the down side judgments would change. >> given the highly uncertain nature of the outlook one might ask why not hold off raising the federal funds rate until the economy has reached full employment and inflation is actually back at 2%. the difficulty with the strategy is monetary policy inflicts real inflation with substantial lag. if the fomc were to delay the start of the policy normalization process for too

long we would likely end up having to tighten policy relatively abruptly to keep the economy from significantly overshooting both of our goals. >> yellen's hour long speech finished in dramatic fashion as she coughed and paused for composure several times before walking off stage to be attended to by medical aids. >> our judgment is about appropriate. [ coughing ] >> excuse me. let me stop there, thank you. >> the fed chair was simply dehydrated and continued with the rest of her evening schedule according to plan. let's see what all of this means for u. s. futures and we're looking like a positive open. quite significantly positive. part of that might be from the fact that there's some strength

that the economy might be relatively strong. this year a hike is possible. close to a percent of gains for all the major indices but i'd say most of the positivity today is coming from the bounce back we're seeing in european markets which, again, taking some lead from the u.s. but mainly after a very soft week here in europe we're finishing strongly and the biggest reason we declined this week has been a stock specific one. it's been volkswagen. that dragged down the auto sector and the dax in particular but today we're bouncing back finishing on a strong note. >> thank you so much for that. let's talk more about janet yellen. i don't know how you felt about the speech yesterday but i felt she was backtracking from a very dovish message she went out last week when the fed didn't hike rates. she focused a lot on the risk of not wanting to keep rates on hold for too long. she talked about excessive risk taking and that being a danger to financial stability.

she talked about being forced to raise rates too abruptly and one commentator said this feels like a speech explain ing why the fe would have hiked rates but didn't. >> she said all along that they wanted to hike rates this year. she made that clear and she is pointing to the slack in the economy. they always talk about slack in the economy. to her it's diminishing as we have inflation pressure set to build as that dollar should be coming off sometime this year and we have a recovery when it comes to oil prices as well. >> if she didn't change her tune, why is it that asian markets fell so heavily. >> no one wants to hold risk into the long weekend. that's why. >> i don't agree with that at all. a lot of people are thinking the boj and ecob should not be raising this year. that's what a lot of people

felt. >> boj we can come to later because of course further data on that but coming back to yellen the tune i don't think remains the same. she is trying to suggest the economy is strong enough for a hike but maintaining that aspect she used last week and will probably use again. give me any excuse not to hike and i'll take it. there's the attempt to reassure that the economy is strong but i don't remain confident that they'll use that data to hike because no central banker wants to to an ecb, sweden, and norway and hike a little bit too early. they have seen what the repercussions are. >> but to make my point once again, why was the dollar up? why were treasury yields up? they wouldn't have done that. >> sure there was surprise in that. >> yeah. >> but the dollar particularly against the euro is where we saw it. we haven't seen treasuries move much so it's hard to read into it on an individual day but i

agree. it moves, particularly the dollar against the likes of the euro and the yen off of that. >> people thought about it. they took the whole session in asia to think about it and realized maybe they're pointing to an interest rate hike at this point. so 35% probability, fed funds rate to move in december. that probability is increasing as we keep hearing from janet yellen. don't you feel sorry for her. 69 years old. a 52 minute -- >> she looks good for 69. >> she ran a half marathon when she was 57. >> really? >> gosh. >> fit, right. >> that's impressive. >> all right. let's get back to our other top story. german auto maker trading to the upside. this as matthias mueller is expected to be named new ceo. he is part of the deciding board

and family that own the majority of vw voting rights. meanwhile, california is getting ready to take action against volkswagen after the car admitted to rigging it's air test. they issued a recall in the state in a bid to calm authorities suspicions. let's get out to nancy outside of volkswagen headquaters in germany. even a wider shake up is expected today. >> that's right. a lot of focus is on the announcement for the new ceo today when the supervisory board meets. they're expected to announce that the porsche ceo will take over the top position. who will follow the former ceo out the door and a lot of reports seem to suggest that the rnd chiefs of porche and audi could be following out as well. and you may remember on monday

michael horn is at a party for volkswagen in new york. he said the only way you could put it is volkswagen screwed up but it does not appear that brutal honesty is going to be at this stage. they announce how far they intend to go with a suspected criminal probe and who knew what and when and what took so long? even when you consider it all took off in the united states. most of the diesel penetration is right here in europe. definitely a lot of frustration and you might be able to tell, just behind me, we're starting to see demonstration from the like of greenpeace. just arrived here moments ago and on the top of volkswagen vehicles we have a giant pinocchio. nobody likes a cheat. >> head to our website cnbc.com

and you'll find all the latest information and analysis of the diesel admission scandal as events develop. >> chinese president xi jinping will spend a second day in washington d.c. meeting with u.s. president barrack balm at the white house. they're expected to hold a joint press conference and xi will also be hosted at a luncheon by vice president joe biden and secretary of state john kerry and then he'll get the state dinner with a few hundred of these guests being invited. meantime, let's get back to the markets and deflation, the d word in japan making an unwelcome come back. data for august showing prices fell 0.1%. that's a year on year figure and that's the first negative inflation read since april 2013 when the bank of japan began fuelling markets with cash. helping support the nikkei that closed at the short week because they only traded two sessions

and we saw 2% gains and guys just about 24 hours ago we were paying attention to what shinzo abe was saying in his economy address and he said very firmly that deflation has been beaten in japan. not the case when you had the first negative read in two years. >> not so much but look at the core cpi number and that edged up. so in this environment we really have to take out energy. that was his message. he's always said we're at the mercy of energy prices. energy prices, that job is going to be temporary. that's what he's hoping for obviously. >> yes but in general, most of the data we've seen has been pretty disappointing and for me it highlights how much more ineffective qe gets further down the line. the returns you get from it. the effect that comes through is always diminishing when it comes later. that's something to take note of for europe and japan and other areas that might consider it. even the u.s. if they're

considering delaying hiking. it's having much less effect and in japan they cannot change the mentality of consumers. savings rate is high. we haven't seen consumer spending leap. >> it's a problem when you continue to raise sales taxes like they're going to do that in 2017 in april. >> i doubt they will now. >> no, he said yesterday they're going to go ahead with the hike unless we have another recession of sorts. >> but qe in japan fed through to the corporate sector but it hasn't crucially fed through to the consumer sector and that is why i think we'll have to see some form of easing though i don't think it's going to have enough form of effect. it's increasingly ineffective. >> it set out that qe target, growth of 22%. >> 22%. so for any other economy out there i would think that's too ambitious but maybe for that economy because they've got the leeway of also tolerating higher

inflation, maybe for them it will work. maybe the two will go hand in hand. let's give them the benefit of the doubt. >> they need to get higher inflation now. maybe that's the goal. sri joins us. happy friday sri. >> hi, susan. great conversation you're having and i think you hit all the main points in terms of the outlook for monetary policy and structural reforms. what is interesting is that prime minister abe and boj governor did meet today so that got the markets thinking and front running the idea that the bank of japan could step to the plate with more stimulus. possibly as early as october and that's certainly what the markets have been front running today. the yen has been weaker today. nikkei up by 300 points and some change and closing in on that crucial target on the upside off of 18,000. on the opposite end of the spectrum wasn't such a hard day for the shanghai composite and global growth concerns from

china plaguing the market. we're down by 1.6%. overall, quite a list, list session here in asia. dollar is standing tall after yellen's commentary and remarks about fed rate hikes happening sooner rather than later and i think that the market still believes, out here at least, that it's going to be a 2015 this year story. em assets made this adjustment toward normalization though we can't rule out some shock in volatility when we finally see the first rate hike. among those most vulnerable it's indonesia and malaysia. that's where we stand. back to you. >> thank you. you have a good weekend. let's tell you what else is coming up on the program today. queuing up for apples, we're not talking about the fruits. we're talking about the technology and crossing live to the am store right here in london as the iphone 6s hits the shelves.

this just in: 50 million customers' data was not compromised this morning in a security breach that didn't happen. wall street. not rattled. at all. no. not at all. not at all. i mean, look at the day. sir. sir. what went right? what went right? everything. thank you. with threat intelligence, behavioral analytics, and 6000 experts, ibm security will help keep you out of the news. my dad's company wasn't hacked today. cool.

welcome back. a resoundingly positive end to what has been a disappointing week for european equities. nine stocks in the red of the stoxx 600 up 2.8%.

a strong performance throughout today. it has been a very soft week thus far particularly lead by volkswagen. let's have a quick look at the rates because we did see a movement yesterday to the upside after janet yellen hinted that there's possibility she could hike this year. going back the other way today, the euro losing 1%, 11120. it has been a strong week overall for the u.s. dollar. the euro losing ground. let's have a quick look at commodities as well. oil prices finishing on a relatively positive note but not too significant. 45.3 wti. brent, 48.3. >> it is that day. that day that apple fans around the world are queuing up and lining up to be among the first to get their hands on the new iphone 6s. let's get out right here.

can you gauge for me the level of excitement for those wanting to get their hands on the 6s. >> we got here at 5:00 a.m. and there were already a crowd of people. to give you a idea, there was a die hardcore group of fans that have been here since monday at 9:00 p.m.. obviously they're very excited. it's a very -- >> oh, way too many people out there probably using their iphones and the signal got jammed or something. but can you believe people have been queuing up since monday night. >> that's what they were saying. not only was the first guy there since monday but the first guy there in london for the iphone 6. >> it's just an upgrade. it's not a relaunch. >> don't you find it funny that technology breaks down at a technology launch. >> it's the networks not the

hardware makers. >> absolutely. so let's bring in our senior analyst and head of mobile at ihs. so all systems go here i have to say i'm not excited by it. what is this new success really offering the customer? the only difference is its simultaneously launched in china. >> they're competing with themselves and they have to prove it's much better. >> but what are you getting in the 6s? same screen size? maybe different colors? >> it looks very similar but actually it's very different. the biggest innovation versus been on the s years when the product looks the same but under the bonnet it's totally different. the biggest thing here is the

new 3d display, that's the key differ she yea to this year. >> what does that typically mean for earnings? >> the last time they did an s launch was the 5s year. they are going in significantly up. the 6s is better and should do even better still. we're forecasting, 236 million iphones shipped this year and 20% up on 2014. >> you have to wonder at what point does even the most die hard am fan going to hit that saturation point because it's already got everything that you want in the echo system with an apple. at what point will we see the saturation point? >> next year.

this year they're going into the quarter with such a strong upstart they will do well. next year is the big one they have to sustain it and that's when i think they'll have the real challenge. >> they're capital iegz on the weakness of the new smartphone makers so do they have to rely on other people's weaknesses still? >> i think they have done well to offer disposable spending. people spend more on their smartphone now than pre-iphone and they have grown the market. they have shaped the market to an apple market. >> can i get relationship vent here and talk about the recent malware hack. do you think that has any impact on people thinking about buying an apple iphone in the future if their software isn't safe?

>> it effects all the smartphone makers. there's problems with android and other platforms too. apple hasn't had any significant issues prior to this. this largely effects apps in china so the effect globally not so much, in china, enormous. the equivalent in europe or north america would be the facebook app being hacked. that's the equivalent. >> in the recent apple launch event, there's a couple of other announcements as well. any of those take the pressure off the iphone as being the lead? >> this year, for the rest of this calendar year the iphone is going to be the main revenue generator and profit center for apple. the more iphones they sell the bigger the target market is the apple watch so the things fit

together. the success underpins everything else. >> i'm just amazed they still have the ability to raise prices. next year could be a challenging year for apple. does that also apply to pricing next year? >> everything is difficult. the reason they pushed up asp this year, the average selling price is partly because of the launch of the larger screen iphone 6 and that's helped them push things up. they won't have that in their arsenal to roll out next year. >> and quickly, your price target? >> i haven't got a price target. i've got a shipment target. 226 million, 22% up and we expect the average selling price. that will have good impact on the financials out of the iphone. >> thank you for joining us. >> now apple users might be vulnerable to a hack through siri believe it or not. the work around allows people to bypass a lock screen and access

photos and other private information. you can protect yourself by switching off access to siri in your settings. >> i like siri. who else is going to wake me up in the morning. >> do you like siri? >> i quite enjoy it. >> i remember when it launched and we were completely obsessed with it. if you could just talk to it and have your text dictated perfectly it's great. >> it's like jarvis from iron man. >> if it were as efficient then great. but i don't think it is. >> you can read plenty more on apple's new devices on our website. head to cnbc.com. right, russian president vladimir putin may be meeting president obama at the un but that isn't the only high profile person he has in his sights following a russian pranksters call to singer elton john pretending to be from the kremlin putin decided to call

him for real at this time. they hope to meet to discuss gay rights in russia. so today we are asking you what would be the most appropriate elton john song to sum up that meeting or to play in the background? join the conversation here worldwide@cnbc.com. here are some suggestions for you. sorry seems to be the hardest word. can you feel the love tonight? that was very apt. >> that would be perfect for the relationship. >> i wonder whether rocket man would get a play as well. >> i don't know that song. >> can you sing it? >> come on. >> yes, let's get wilf to sing. >> i nearly did that. >> the reason we have this segment is to get you to sing. >> our viewership would crash. but also tiny dancer i think is applicable. putin hates people knowing how short he is. >> he does. >> do you think he can dance though? >> i'm sure he can dance. he can do anything. fish, wrestle, anything.

i'm sure he can learn if he can't do it now. what about blue eyes? doesn't putin have blue eyes? >> i don't know. >> you haven't looked him in the eyes. >> can't he just wipe your mind if you look too much in his eyes. >> but that's my suggestion. blue eyes. >> i got one, what do you think about candle in the wind? >> well, in what sense? who is the candle in the wind in this regard. putin would be because hopefully according to some. >> benny and the jets i try to workout -- change the name to assad and the jets perhaps. anyway, get your suggestions in at cnbcwex. the twitter handle. still to come, the campaign for britain to wave good-bye to the eu is about to get a boost as they prepare to take over it's conference. >> is western europe to be a

series of democratic nation states that govern their boarders and trade with each other or is the agenda going to win? that's the real debate that's going on. oh, look. we have a bunch of...

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and getting into trouble. talk. read. sing. your words have the power to shape their world. learn more at first5california.com/parents >> european stocks jump in part on janet yellen's message the fed could still hike this year.

but she feels weak and needs medical attention following her speech. >> for most fomc participants including myself we anticipate that achieving these conditions will likely entail an increase in the federal funds rate this year. >> who's in and who's out? porsche top man is the new ceo. >> get in line, apple fans forms queue's as the new iphone 6s goes on sale.

>> the nikkei 225 advancing close to 2% to close out a very shortened holiday week there for tokyo markets. meantime china continues to zig while others zag. and then hang seng index flat as we head into the long weekend. wilf? >> the u.s. senate will hold a vote on monday. a step toward avoiding a government shutdown on october 1st. the measure does not include a provision to defund planned parenthood which conservative republicans targeted amid allegations. improperty sold fetal tissue from abortions. house speaker john boehner is

working on similar legislation but it's unclear whether they'll put forth a clean bill. >> it's being called a defacto referendum on the region's opinions. they would automatically exit the jurors ro zone if it decided to see it from spain. despite the warning polls suggest pro independence parties are slightly ahead in the race. let's get out to julia in barcelona. >> thank you so much. as you quite rightly point out last day of campaigning ahead of the he election on sunday. a quasi referendum on independence to spain. but what did the community think? they're concerned about what this could mean for euro membership. let's speak to my guest. i'm joined by the president there. an association was set up a year ago to represent businesses

against association. what do you represent and who do you represent? >> hello. my pleasure to be here. we represent 500 small to medium enterprises that decided to send a message that from economic and business point of view it doesn't make any sense. it's negative for anybody. for catalunya and the rest of spain. >> do you see a separation from spain meaning an exit from the eu and potentially losing the euro as well? >> right now we have to concentrate. this is regional elections. anything else would be illegal. any other scenario in the long-term i don't know. but right now the future government can do not anything against the regional constitution and against the spanish constitution so this is a problem we may face in the future. >> so you're saying even if together for yes win this campaign, there's very little they can do after sunday without going against the constitution

of spain, it's illegal basically. >> they have to respect the laws. they will need the majorities of two-thirds to start the process. this is just the regional elections. it shouldn't do anything else. >> is there a social pressure here to be proseparatist? >> absolutely. you have to think that the regional power, local power, is pro independence. it's very negative and you confront the sort of consequences. so of course this being some sort of movement to stay silent. >> is this why ordinary people tend to vote? but the turn out isn't. >> at least in the polls they don't deare to say their option. it happened in the last regional elections which have their independence and it's a fact that people in favor of union,

people in favor of solidarity with the rest of spain, they're silent. they don't make any noise. because everything is fine. it's like what happened when the no won in scotland. people that want to say the same and are in favor of the union don't make a big fuss out of it. >> not all businesses are against separation. there are businesses out there that think it wouldn't be that bad and if you look at them in general it does transfer money to other regions in spain. we're talking a 4% deficit for them. if you have that money here things would be better. we can argue that, cannot we? >> no, we cannot argue that. any business, any person, any group of people that has a higher income than the rest, it happens in the u.s. and they will not share anything with anybody else. they're all very complicated. it's so complicated to establish

a fiscal deficit. it's like saying i spend this money on you, this money on you and it's so tiff cut. it only benefits barcelona but all the people in other parts of spain. but having said that, of course everybody has its own reasons but if you think about what kind of companies in terms of size, revenues and employees are in favor of independence they're very small. >> you're only representing 500 medium and small size enterprises. are you saying they're too afraid to join because of this social pressure? because you can also argue there aren't many that are pro. >> people tell you i support you but i'm not going to sign or be in your talk or conference or that picture because 30 or 40% of my revenue come from public administration and i cannot afford to risk that. it happens alot.

>> very quickly. is it in the interest of the central government not to be clear about the deficit figures and trip them out because it helps them build a case. the cost is perhaps higher than it looks. >> the thing is again, not all of them publish the fiscal deficit. it's very difficult to calculate where the taxes come from. if the bank in barcelona makes money all over spain why all of those taxes are only allocated in barcelona. the same with expenses. it only faye vors people in barcelona. that's why no other country does it. that's why studying this debate is nonsense and yet the spanish government did it in 2005 because they asked for it and we did it and it's a mess no matter what. >> thank you so much. really interesting points. talking about this idea of anything beyond this election ooe even if the separatists win is going to be illegal of course.

it's interesting points guys. back to you. >> thank you for that. busy weekend ahead for you definitely. let's move on, the flash crash trader just arrived at westminster magistrate court where he faces an extradition hearing to the united states. we'll cross live very shortly. >> jeremy corbyn is no later than 30 days into his new job and the results aren't pretty. the new man heading up britain's opposition party put up the worst showing of any labor leader in years. meanwhile, the u.k. ees other unconventional politicians will take the stage later today. i caught up with him yesterday and began by asking whether he identifies with jeremy corbyn as a fellow rebel. >> he wants to get rid of the

monarchy. he wants to abollish the british army. he believes in unlimited immigration controls and he's t total. i have nothing in common with him at all. >> resounding answer. >> but his rebellious nature, taking on the status quo. do you not have any similarity there is? >> i thought i did. because i thought as somebody that voted no in the referendum that the one thing we could agree on and indeed perhaps even share platforms on was the idea that being members of a corporatist european union was disastrous for democracy for the u.k. and the rest of europe. for his whole career he believed that however within a week of becoming labour party leader, he sold out on that principle. so i think now we have nothing in common at all. >> my last question, a light hearted one. we have all seen the rumors of what the prime minister got up to back in his younger days.

i wonder what the strangest thing you might have done, maybe had one drink too many in your younger days. >> i can think of several incidents. none of which i'm going to share with you. >> fair enough. >> credit to his answer there. i also asked him whether the events of the summer had helped the anti-eu cause in the u.k. >> well, the euro crisis split europe from north to south. the berlin wall and east to west and now the euro split it from north to south but the migrant crisis has an ability to be an even more disruptive effect on the european union because we're not just talking about numbers of people as we heard from hungary and slovakia and elsewhere there's a cultural and religious debate going on as well. those european countries that rejected the idea of enforced quotas and now found that the eu bullies cheered on by germany

have come through the back door and enforced this upon them all that can do is lead to resentment. >> we knew that we would get a referendum on europe. i was playing down the brexit and i thought it was highly unlikely. but i got that wrong. we've seen polls become much closer to it being even. but we're still a long way from the referendum and there's some what of a separatist anti-eu peak across all of europe right now and there's still a long way to go. >> he's capitalized on the sentiment you just talked about. he's putting the eu referendum before his party. probably not a surprise given how badly they faired in the election. >> i just like how colorful he is. i'm just wondering, in your conversation, what sense did you get about how serious he is and how much he wants to break away from the eu?

because from the headlines i read this morning, that's the annual conference is dead kated to try to get and garner more support for this anti-eu sentiment. >> he's deadly serious about that. he has been for 20 years. >> but he said it's more important right now, the antieu sentiment than the actual party itself. >> which is a nice sentiment to finally hear his echoing because he didn't win a seat in the general election himself. >> what does that mean for people in ukip? what does that mean? >> i think the party should just campaign for this referendum. they already achieved much more than any skeptic could have hoped on any time frame looking backwards. they got to a position where we're having a referendum on europe and they have claimed that they're not a single issue party but for all of their supporters this is the chief issue and if they achieved or helped achieve the referendum voting to leave the eu that

would be great for the party. >> i want to ask you about that. isn't the point of a party is to win government one day instead of just to -- it looks like their ultimate goal is to leave the eu. >> yeah but that's how this party was founded initially and over the course of the last decade they have evolved and grown and tried to claim that they're not just a single issue party. if you did ask most of their supporters i imagine and i don't know this but i would imagine they would say that's why they're supporting them for now simply ahead of this referendum. secure the rev rferendum. once that's behind us i doubt they'll be a big presence in ukip politics. having said that we all know what happened in scotland so we'll have to wait and see. >> from one colorful topic to another one. the rugby world cup is on. still to come, we find out what it's like to play for england in the rugby world cup final.

yes, we have a member of the winning english team.

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welcome back to the show. a very strong rally underway. the stoxx 600 is charging higher

to 2.8%. the dax has been hit pretty hard this week. so for this week, there's still a chance that we might close out the week with losses of more than 1%. we'll see how we fair by the end of the trading session but obviously the dax hit hard by all the vw turbulence and still some 20% away from its april highs but some of the sectors driving us higher today, basic resources and oil. >> let's get to the fate of the so-called flash crash trader. a london judge will decide whether he should be extradited to the united states. >> good morning, susan and yes, just about 15 minutes ago for that extradition hearing that kicked off by 10:00.

and those are are pretty serious charges. he could be facing up to 380 years in prison as a result. so he is going to try to negotiate a plea bargain. as he arrived today he declined to comment and didn't want to say anything about the hearing. this is something that has been the case every time he has arrived at this court he hasn't wanted to speak apart from an outburst a month ago where he said all he was guilty of was doing his job.

he looked quite nervous surrounded by his legal team of course and very much looking forward to hearing his fate decided within the next few hours. >> you know, there have been a lot of e-mails that relate back to other programmers that he discussed about what he's calling jacking the markets. so are this other people that are going to be arrested or extradited or even filed charges against? >> well, one of those things that has come out is he says how many other people are doing this but what's likely to be particularly difficult for him in the he e-mails which have been released is that he's actually using it to refer to this practice. he probably wasn't the only trader carrying it out if he is proved to be the only one carrying it out that's going to be difficult and the law on this

in the u.s. is pretty ambiguous which is something his lawyers are likely to play on because essentially what the authorities have said over there is if you're committing a crime when it comes to this we'll know when you stepped over the line and we'll tell you when you stepped over the line but it's a quite difficult thing to measure, particularly for someone operating as he was, especially operating from his parents house in london. >> let's move on, japan's sports minister and ally of prime minister abe re-signed over plans for the olympic stadium were scrapped. japan will build an athlete friendly stadium as soon as possible but it will be finished a year later than schedules. this follows another embarrassment as the logo was changed over plagiarism allegations. >> england is hoping to make it three straight wins over whales when they meet this weekend. the two teams are currently

sharing the top spot ahead of australia with five points each. joining us to discuss the rugby world cup is a former england rugby player and chairman of european professional club rugby and has been in the market 30 years or so. >> great to have you with us. the coach made quite a few changes for this game. what do you make of those? >> well, they're not as surprising as you may think because the minute he chose sam burgess on the squad he was only one injury away from playing. this will be the most physical international you can imagine because wales have massive centers as well. he was playing for england before pord came along. so it's not that much of a step back. i think england would have played a different way. i'm very glad i'm in the stands because it's going to be the

most physical physical game you imagine. >> the odds do have england second favorites. somewhere behind main favorites new zealand. is that fair? do you think we have as good of a chance of that for the whole tournament? >> i think you'll find the depth is going to do well in this tournament. look at wales. they're going to struggle. australia is a wildcard in the moment. so we have home advantage and that, you know, when i played in 91 it made a big difference. but england are expecting to do well. >> to what extent could they become a rugby nation rather than a football nation. the football team hasn't done that well. >> oh. >> it's true. >> rugby is being played all

around the country. brighton became a rugby town. games planned in manchester, new castle, everywhere. so there's a real legacy thing here with the imagination of the country will take light and all kids, they want to be winners and after the '91 world cup a lot of kids started to take up rugby. if they win this world cup watch out there's going to be an explosion of rugby players. >> getting a lot of abuse for that too through my ear. >> but how many world cups -- does switzerland even play rugby? >> i don't think so. >> let's touch on your days in the financial industry as well. you were working for lehman bras the day it collapsed. what was that like? it was a bit of a skrcrum to ge to the door? >> when we walked in the office the first thing we saw was u.s. colleagues going for the exits pretty quick and we always

realized that the game is up. you think about it in emotional materials because thousands of people lost their jobs and their pensions and everything and they had to bring in extra security. the police were called in. the cameras were everywhere and there's well publicized pictures of people leaving the building. it was very dramatic. it was the same week i was coordinating a match for help for heros rugby and when you see a double amputee that same week talking about that game, it gave me an amazing bit of perspective. >> i'm sure it did. it's been great to have you on. congratulations with all the charity work. quick score this weekend? >> we're going to win by six points. 18-12 and there might be a few injuries around as well. sorry about that. >> that's a great call. we look forward to seeing if you're right. i hope you are. former england rugby player

joining us here on worldwide exchange. >> back to our viewer exchange, russian president vladimir putin might be meeting president obama at the united nations at the u. s. but that isn't the only high profile person he has in his sights. following a russian prankster call to singer elton john pretending to be from the kremlin putin decided to call him for real this time. they plan to meet to discuss gay rights in russia. but what do you think would be the most appropriate song to sum that meeting up. what should be the putin and elton john anthem? join the conversation and get in touch with us. are we giving them choices or is it free range from any elton john songs? >> ideas. >> we already have a viewer comment. he says for putin he would pick have mercy on the criminal or just can't wait to be king. >> just can't wait to be king.

guys can we bring up what we just played of the two of them as well. because i think as well as playing him a song, i wonder if elton should give him a present. i think he should give him a pair of these nice pink glasses he he's wearing. don't you think vlad would look great in a pair of those. >> maybe he would see the world differently. >> he might. >> mad men across the water. >> that's an elton song. >> he's got a lot of hits. he's a bit of a legend. continue to get in touch with us at cnbcwex. we'll be back in a couple of minutes.

welcome to worldwide exchange. >> here are your headlines from around the world. >> u.s. futures are pointing to a higher open at janet yellen releases a strong message the fed could still hike this year but the central bank chair needs medical attention during her speech. >> for most fomc participants including myself, we currently anticipate that achieving this