>> welcome you're watching worldwide exchange. >> these are your headlines from around the world today. >> out of correction a strong rally state side helps raise all of september's loss with the s&p on its best winning streak of the year. >> european equities failed to match the gains weighed down by basic resources. s&p slashes it's out look for 14 oil and gas firms while glencore is back in the red. >> the white house denounces

saying moscow was reckless in it's actions. >> literally losing the shirts off their backs. they're forced to flee a meeting with workers that turned violent as the airline details it's job cutting plans. what a day it was for u. s. markets yesterday. you've seen a percentage of advantages up 200%. meantime the s&p also saw it's 5th best day of the year and the nasdaq is out of correction territory. you see regaining all of their september losses that we saw being lead down by the concerns over in china and the sectors that saw the biggest declines were financials, energies and telecoms. now we're seeing big gains. up from friday's session lows

and when you check in on the s&p itself, posting it's first five day winning streak of this year, 2015 and it's fifth best session of 2015 as well this year. >> meantime s&p slashed it's credit rating and outlook for 14 oil and gas firms. it includes bp which had it's outlook cut to negative. let's look at the price action. all losing three quarters of 1%. the ratings agency cites it's own outlook for crude. rising by $5 increments until 2017 when it expects the price to stay at $70 barrel for the forseeable future. steve, what did we hear from s&p overnight that we don't already know? >> that they are really optimistic about the oil price.

$70 barrel is incredibly optimistic given the oversupply we have seen in the second quarter of this year. it's run about 3 million barrels a day plus. third quarter probably shave a million off but when is it going to disappear? some are saying 2017 and others saying it will last longer. that's why delegates are key. because rather than taking oil off the table the iria nirks ans could be the x factor in more supply coming to the table. they produce 3 million barrels as it is as part of the opec grouping that is producing in the region of 31.5 million barrels a day. and then there's other factors within opec as well such as libya producing a very small amount. under 400,000 a day. get up to 1.6 million possibly

more. so you can see it's very interesting that i know the opec secretary general and i have been listening to him making comments about non-opec supplying slowing down to flat or negative in 2016. they're overproducing by 1.6 million barrels a day. that could be easily doubled given the desire of iraq, iran, and others to produce more and it's the problem of finding buyers. we know that saudi has been cutting prices by nearly $2 per barrel to customers in asia as of late and they're not the only ones desperate to sell to asia as more and more find it difficult to sell to western europe and the united states which are producing a mean 9 million barrels themselves. >> i want to talk about pricing with you steve. they cut prices, saudi arabia cut prices to delivery for asia. what about the future of

pricing? >> well, let's talk about the supply and demand dynamics. i mentioned the supply side of things. billions if not trillions of dollars of investment are coming off of the table. but that doesn't effect current supply. the demand response has been robust. imports of crude in july for china. we're up 20% plus as well but is this genuine chinese increase in demand on the back of lower prices or about filling their spr? possibly as well. but despite in some commodities china being the x factor, it's not necessarily for the oil market. now out of a total per day of over $90 million it's not quite the same x factor it has in the likes of iron ore and copper as well. when we're going to find that dynamic is key. i'm looking around for the big

ioc guys plus the nocs to try to get some answers but we would also be speaking to the iea. the executive director of the iea and we'll be speaking to him hopefully in around 20 minutes time. >> thank you for that. looking forward to those interviews. meantime, shares in glencore, they have been on such a ride over the last few days or so. they're giving back some of yesterday's huge gains. we're up by roughly 21%. that was on speculation that we'd see asset sales. maybe a big take over. we're off by 2.78%. also i want to show you what the copper price is doing because yesterday the ceo of glencore made comments about huge cuts in copper supply and lme copper is trading a little bit higher maybe on the back of the comments and maybe not.

we're higher by 1.5% but sees huge cuts in global supplies. >> do you think it was a short squeeze? we did see that big bounce. 30% yesterday in hong kong so the stock coming off as well. the european glencore shares they knew why we saw that bounce. the hong kong exchange got a note from glencore saying we don't know what's behind this move. >> if you listen to him he blames it on the speculators on the hedge funds so if you believe him it might be that too. >> could be a short squeeze. i'm telling you. let's talk about commodities. we'll throw in bon jovi as well. our commodities living on a prayer. head to cnbc.com to find out more about the debt dilemma facing some of the biggest players in the energy industry. let's get back to the markets and i want to show you what happened in asia because we also had a rally with the hang seng and the asx 200 looking at their best now. their recovery best in two months time and this is back to

the signing of the transpacific partnership. the biggest trade deal signed globally since 1994 when they formed the wto and this opens up 40% of the world's economy. 12 countries being involved here and we saw the nikkei bounce. this was expected because now you have, you know, the auto parts sector open up to japanese made goods, cars of course, you name it. that includes agriculture subsidies in japan. we have individual parliaments that need to ratify these deals. >> that could be a tough one for president obama. his last hlegacy thing he wants to push through congress before he leaves office. the white house pushing forward and congress pushing back. >> it's not just the u.s. because there's a lot of contentious debates in australia and canada as well which has a

very vibrant agriculture sector. that's something they'll continue to discuss. it's not over just yet. let's talk about the white house because the white house says it will make details of the tpp public as soon as possible. this is after the 12 nations reaching the biggest deal in 20 years. cutting trade barriers in 40% of the global economy. this also comes down to the individual countries involved but so far it looks like victory is being claimed by the u.s. president and japanese prime minister shinzo abe that expressed optimism china could one day join in global trade pact as electrical with. >> this strengthens the economic area and will deepen mutual dependency with such countries. if china participates in such a system in the future it will contribute to the security of japan and the stability of the asia pacific region. it will also be greatly

significant from a strategic point of view. >> it's been five years in the making and finally agreements but it's not over just yet but market participants have been expecting this and they're buying on the back of it so far. >> especially in the japanese equity markets. but i think what is really interesting are the countries that are not in on this deal and when those countries that are not in on the deal, will they join later? china is a big glaring emission but it's pursuing it's own trade agenda. korea is not in this deal as well. south korea. but they pursued a separate free trade agreement with the u.s. so they're reaping the benefits of that. so as i said it's about those countries that have not necessarily joined this time around. are they going to be in on the deal later on? in the later stages? especially if the beneficiary countries start to reap rewards.

that's a big open question. at what point in the cycle are we going to see the trade flows translate into material gains in gdp for abenomics and mexico and the southern countries and they need that help right now given the slow down in those economies. >> can i argue that i think that the nikkei's moves they have got to do with the chance for more easing. there's been so much speculation about the october meeting. with the tpp even if it was signed would that have as much of a short-term impact? that's going to have a longer term gdp impact, won't it? >> exactly. but what we can say is that it is pushing forward abenomics. it does give a little bit more momentum to the structural reform. you're quite right to highlight japan and the equities market and it has been front running the idea of more stimulus. we cannot rule out this week and

around this time last year he shocked and awed the market with a big expansion of their balance sheet. so he does have the capacity to surprise to get ahead of the markets but the sense that i'm getting from many investment banks who follow japan closely is that this could be a late october story or maybe a november story. i think the boj may want to keep it dry and all eyes on governor koroda and the press conference. >> we could be getting more stimulus this week at the boj meeting and some are saying if we have more stimulus from the boj, we could be getting a yen at 124, 125 levels. but a lot of the notes that i have been reading on this shows desperation right now and the

fact that they opened the flood gates, they're most subsidized rights in the world. that shows me that they're willing to let other countries come in that they have this desperation to somehow reflat the economy anyway, anyhow. >> it's a very tough sale politically. especially where there are a lot of vested sprinterests and that means bad news in terms of a key electoral constituent. so it has to be a tough sell for abe but he needs to do this. he needs to crack on with the structural reforms and if you look at the narrative it's been very clear that if you read between the lines he's been putting the responsibility clearly in the court of mr. abe and let's not forget that there is a limit to monetary policy and he has been clear about this. it's been about structural

reforms. we need to see more momentum. >> thank you so much. not everyone is pleased with the finer detail of this transpacific partnership deal. >> the drug industry saying it's disappointed over the terms in the transpacific partners agreement about medicines made from living cells. because of their more complicated manufacturing process, generic versions of these drugs aren't considered perfect copies. they're called biosimilars. it set an international standard of 8 years or at least 5 years and potentially another 3. bio called the agreement remarkably shortsighted with the potential to chill global investment and slow development of new break through treatments. doctors without borders saying

the deal provides too much protection and it will raise the price of medicine for millions by unnecessarily extending monopolies. most offer 5 years of protection and in the u.s. president obama and hillary clinton advocated lowering the 12 years to 7. some say 8 years is more than most would have expected. however australia, new zealand and chile were unwilling to offer more than five years. chile calling the issue one of the most sensitive in the overall agreement. back to you guys. >> we're a little more than one hour into the european trading session. we're coming off spectacular gains yesterday. this morning things are a little bit quiter. off by 0.2% so giving back some of those impressive gains. we're off the session lows but what is driving us lower today is basic resources and many of

the minors, glencore including one of them after surging in the trading session. today is a give back day and we're waiting to see what comes out of japan as discussed. let's have a look at the european markets. xetra dax off by .3%. the economic data there was a little disappointing for august. the ftse 100 also pulling back by a similar percentage. sab miller came out with it's report. shares were down by 2% as it's weighed down by currencies. the cac 40 is holding on to the flat line. susan. >> yeah, thank you carolyn. we're going to go to break here but coming up next on the program, getting shirty. air france executives are forced to flee a meeting that turned violent. we'll get the latest. also, unacceptable, western leaders deliver strong warnings after multiple russian

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dupont ceo will retire at the end of next week. dupont is also cutting it's full year earnings outlook citing the strong dollar versus emerging market current sis particularly in brazil and further weakening in agricultural markets. they have been under pressure over stock price and back in may they had to fight off and fend off an attempt to win more broad seats. dupont rising 4% in after hours trade. also covestro began trading in frankfurt today. the company did revise down the amount that it wanted to raise last week because of the recent market volatility. today's ipo values the chemicals firm at just under 5 billion

euros. >> let's have a look at sab miller. it's under pressure from weaker market currencies that continue to drag on revenues. they reported an increase in bottom line figures as the firm pushes the premium brand with shares down 1.6%. volkswagen has admitted software capable of diesel emissions in the european union. also the ceo will address employees before making a volatile visit to the u.s. later this week. it's holding from 15.5% to just shy of 20%. this is the 2nd time in a month that vivendi has raised it's stake and air france klm, what a turbulent day yesterday. they were forced to flee a meeting at the company headquaters after employees

ripped their shirts in response to the announcement of heavy job cuts. stefan filed this report from paris. >> they were presenting the restructuring plan yesterday when a group of angry protestors stormed the meeting room and physically assaulted the head of human resources. the security staff got the management. but he had his shirt and jacket totally ripped off. people have been injured including one seriously and the airline filed a criminal complaint for aggravated assaults. trade unions denied that their members were responsible for this violent action. the meeting has been suspended. air france announced 2,900 job cuts over the next two years. it's also going to reduce it's fleet by 14 aircraft and decided

to cancel part of its order for new boeing 787 dream liners. it will be according to air france management. >> pretty violent scenes there. moving on, he called an incursion by russian fighter plane into turkish air space unacceptable. after there was a second such breach on sunday. the white house called it a provocation. secretary of state john kerry warned that if turkey had responded it could have resulted in a shoot down. hadley joins us with more. the buzz word is deescalation. how do you deescalate that conflict? >> if you look at turkey and the sidelines from brussels, we heard earlier that he's saying an assad victory looks much more likely now that the russians have gotten into the game in syria and there's a serious

concern that this kind of escalation is going to lead to more difficulties going forward and that's not beyond the pale but you have to recognize that now you have al qaeda encouraging their members to begin fighting with isis against the crusaders. so in the sense of what's happening in syria this is not really good news, is it? >> no, it's not. but i want to come back into the russian incursion into air space. what's the message? is this all about the no fly zone? >> this has been happening for months in europe. we heard that this happens all the time and i think what's interesting if you look at the relationship for the last couple of years, he has really gotten this kind of buzz from what plfmr. putin has been able to get away with in materials of the international community so it's interesting that he's pushing

back on mr. putin. >> i want to ask you about isis. these air strikes that russia just kick started off and syria was to battle the islamic regime but how is that push back and how is that fight? >> well, certainly they're trying to support president assad and keep him in power. that has to do with having their base on the mediterranean and this broader idea that you heard last week during the united nations summit in new york which is that as the united states seems to give up power who is going to take that power over and it seems to be russia. >> let's tell you what else is happening across the middle east. we want to bring our viewers up to speed on afghanistan with president obama considering a plan to leave as many as 5,000 u.s. troops in afghanistan past 2016 according to a report by the washington post. so this will put a halt to the president's plan to remove all

u.s. troops from the country before he leaves office and this also comes on the back of that air strike is on a hospital which is really testing the afghan u.s. ties. >> of course. wrouf se you've seen the ties getting better with the loosening of the u.s. grip there and the u.s. presence there but at the same point this speaks to a broader realization on the part of the obama administration that the more that you retract from the world, the more that you take troops out, look what happened in iraq. you had the rise in isis. now look at what's happening in afghanistan. >> taliban has seen a resurgence unfortunately. >> obama wants to leave. retreating from promises like that syrian red line and now actually saying well we're going to leave some troops still in afghanistan. >> it seems to look like all hands on deck at this point. coming to the end of his presidency and whether he juans

this legacy or not this is the taste he's put in the mouth of world leaders. that couldn't have happened a few years ago but now with the consistent level of inactivity perhaps you could call it from the white house at least in terms of foreign policy, this is what you see. and unfortunately what you have seen with going after the kurds instead of going after isis, this is just another example of that. so for the obama administration they really seem to be playing catch up here and it's not just about a global counter terrorism force but what that's going to look like and what it can do. it hasn't worked well so far. not with the fighters in syria or what they tried to do in mali. so bigger questions about who they're going to put where and whether or not it's going to work and who is going to carry this on because the president is coming to the end of his term. >> maybe in 15 months we have a reset. >> and who is it going to come from?

hillary clinton or one of the many republican rivals that don't seem to have articulated much of a strategy. >> thank you. still to come on the program, tech dominates the latest brand power rankings but who topped the list? we'll find out. that comes your way next. (vo) what does the world run on? it runs on optimism. it's what sparks ideas. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world.

european equities failed to match the gains today weighed down by resources. glencore sinks pack into the red. >> the white house and nato denounce a violation of turkish air space by a russian war plane saying moscow was reckless in it's actions. >> literally losing their shirts off their backs. air france executives are forced to flee a meeting with workers that turned violent as the airline details it's job cutting plans. okay. let's quickly check in on european markets today. the fifth day of the s&p for the year. the ftse 100 losing steam. the german dax also falling.

coming out of bear market territory yesterday. we're seeing some diverjence but it's been flat and quite. >> it's also quite in the bond markets. we're seeing a mixed picture. the ten year treasury note falling a tad. it was back above 205 level yesterday. now we're seeing bund yields ticking higher. ever so slightly 56.9. in the currency markets we did see some dollar strength overnight against the yen but that's coming back a little bit. also the aussie against the u.s. dollar. that was a big mover. there were no hawkish comments but still the currency was bought up. that was a little bit of a puzzle to many. euro dollar at 11206. >> we had a rally for the nikkei 225 up 1% on the end of it. also the signing of the

transpacific partnership as well. helping to rally the equity markets. more on that in just a bit. we're down by .10 at the end of it. but let's talk about that global trade pack. the largest the world has seen since 1994 when the wto was formed. if the transpacific partnership is managed and does get through and is ratified by all 12 member governments well the agreement will be seen as a major victory for u.s. president obama and japanese prime minister shinzo abe who expressed optimism that maybe china could one day join as well. >> this fundamentally strengthens the rule of law in the economic area. it will deepen mutual dependency with such countries based on laws appropriate in the new area. if china participates in such a system in the future it will contribute greatly toward the security of japan and the stability of the asia pacific region. i believe it will also be greatly significant from a

strategic point of view. >> it's a big shot in the arm for of course abenomics. let's get straight to tokyo. >> yes, the agreement was a vital win for prime minister abe as it is a key component of the series of economic reforms abe has been trying to push forward since he took office three years ago. it will give a 2% boost to japan's gdp. it's set to benefit businesses and citizens alike as they will be removed for auto parts and other industrial goods as well as bring about lower prices for beef and butter and flour. the most contentious issue had been agricultural goods, especially rice and in the end japan allowed 80,000 tons of additional rice to be imported annually and the government announced it will buy an equal amount from stock piling to prevent pricing from falling and will create a task force to

assist farmers in dealing with the rise in low cost imports and skra pan is hoping the agreement helped move forward negotiations with other regions. >> this is a time to take a step forward. it creates an even bigger economic region in the asian countries. also to end an agreement with the european union within the year, we need to speed up negotiations. >> the agreement among 12 countries that covers 40% of the global economy is one that strengthens security ties and is needed. and the japanese government hope to nudge china to join the agreement for a more stable and transparent economic environment. that's all from the nikkei. back to you. >> thank you for that. apple and google remain the world's most valuable global brands according to a new report. the tech giants held on to the

number 1 and 2 spots as technology brands dominated the ranking while amazon entered the top ten for the first time. they lead the 100 strong list. volkswagen coming in at number 35 for its performance over the past year. joining us from paris is the ceo at interbrand. got to talk to you about volkswagen. has the scandal been incorporated in that list or not? >> for sure. we are making sure that that was part of it. i think volkswagen right now is on an amazing strategy to try to recover the consumers. so yes it is. >> obviously once we see the entire fall out of this diesel scandal, the emissions

manipulation, let's say in a year's time, how much do you expect volkswagen to jump just as a result of that? just how sensitive is your ratings table to scandals like that? >> well, you know, i think we saw in the history of some of the brands that definitely what we can see is that volkswagen is getting their act together. they're working very hard to try to work on their crisis right now. i think this is some they have to follow. they have to be very agile and very fast on the decision making and they have to be 100% transparent with the consumers. i think once they release all the information piece by piece and they go to a local market to really did he reca really determine and change the problems i'm sure they're going to back on growth. they're doing everything behind the scenes to work against the crisis and show every single test point to make sure that at the end of the day the consumer is happy with the cars that they

are buying. >> there is a way to come back. if toyota is number 6 on your list after 2010 and those unintended consequences, i think volkswagen can come back as well. i'm just wondering about the dominance of technology in your brands list. from what i see, apple is not only the number one brand for three years in a row now, it's also the fastest riser. how is that possible when you have been number one for three years? how do you rise quickly? >> i think it's all about the brands at the speed of life and what i can tell you right now is that some of the brands that are thinking out of the box, they are really working hard on the consumers. they're trying to connect and they're trying to work on bringing to the consumers different, different problems that can add value to their lives. i think they are breaking the barriers on the way and creating

new services and especially in apple, the pipeline they have is really robust. it's really looking great. we have the new iphones. we have the iwatch and i think everyone is looking for the products today. >> a question for you, from me at least, i'm just wondering about the dynamic shift because when i'm looking at your top ten names, your top ten brands from what i see, 6, 7 out of the top ten are technology companies where as the consumer brands, the fast food chains like mcdonald's and coca-cola are still in there. how many years do you think it will take before it will be virtually all technology? >> well, you know, i think, remember there are many brands in the top 100. some of them are technology. some of them are not. technology companies, the ones that have the ability to transform the consumer behaviors are really changing faster but, you know, i see other brands

that are also doing very well. so you know it is not only about technology. i see other really big brands within the top 100 doing well for example. apparel is also doing well. other brands are doing very well too. >> all right. thank you so much for your time and insights. ceo at interbrand. >> okay. so this -- well, these brands may not have made the top 10 when it comes to global brands but in the u.s. they are big when it comes to fantasy football, draft kings and fan duel. the two major u.s. fantasy sports sites and they're defending their integrity. trying to fight back after a scandal with a mid level draft

kings manager. he released insider information and placed bets in a contest. so he released data on the most picked players which isn't usually made public until after weekly line-ups are completed and then the nfl games start. he won $350,000 that week by doing so and draft kings says the employee, well, he simply made a mistake but both sides are temporarily banning their workers from playing in the future. an estimated 57 million people take part in fantasy sports. we want to be hearing from you. fantasy football is a huge sports event. loss of money. unregulated. there's no government oversite on it. but 57 million people play it and billions of dollars are waged and when you can make $350,000 in a week. not bad. >> but the lines between gambling and the fantasy play are really, really blurred and the nfl, for example -- i'm

sorry, the nhl came out a coup of years ago and said we don't want any money to be bet on that so we're actually against it. many of the other associations like the nfl, they didn't come out and say anything but i think only if it's a coin toss then you think it's gambling. but if there's some players, better players consistently outdo the weaker players then it's not gambling but it's such a balancing act, isn't it? >> it's a strategy game, isn't it? and hence in this case when you know the line-ups before they actually come out and start the games on nfl sunday, you get to front run the rest of the competition which is considered insider information. so let's get out to steve because we want some information from the oil and money conference taking place here in london. >> i have been listening to a fascinating conversation between the secretary of opec and the

executive director of the iea. i'm delighted to say he could join us now. thank you for joining us. i didn't hear much that says oil prices are going to stabilize because the oversupply in the market is going to disappear any time soon. is that what you believe? >> there's a lot of oil in the market today. a lot of oil came from the united states and also from iraq and then we look at the next few quarters and we expect the u.s. oil production set to decline because of low oil prices and in iraq the production growth will be much slower than in the past and the demand is creeping up. so therefore to think low oil prices will be with us forever may not be the right way of

thinking. >> the lower they have to get out to satiate their creditors they have lowered the cost of production and defied expectations. do you think the lowering of cost in u. s. shell finished now and they need to cut production? >> it is a problem that's a very resilient type of production but these level of process, 45, $50 is not good enough to indus reinvestments and continue production to go. therefore we expect as of next year production growth will decline in the united states. >> he said there's too many operators operating in the u.s. as well so any form of cohesion is just not going to happen, is it? >> the united states is one of the key members of the international energy agency. next month, we will have our meeting which will be chaired by the u.s. secretary and the

chinese and indian minister and this meeting will give also oil markets to the climate change discussion coming in december. >> you mentioned iraq. you mentioned u.s. on the supply side and you didn't mention iran and a lot of people want to hear how quickly they can ramp up production by this year and next year as well. that's a negative signal when iran does up it's production. do you fear what that's going to do for the price? >> if the sanctions are lifted by the international community we expect iran to increase producti production. but then the biggest growth, in order to see a big growth from iran you need a huge amount of investment for the new capacity development and this would not have been from one day to another. >> he already said to me to you and to anyone we'll get a billion barrels a day in the time frame ready for extra

exports as well. they're going to do that and that's going to upset other investment plans. >> to be up to iranian authorities to decide how much they're going to bring and how much they're able to bring to the markets but definitely iran's contribution to the markets may delay the markets. >> in terms of the demand side, you mention the pick up in demand it's an obscure picture of china. other people point to real growth in demand but with the chinese economy slowing how much do you fear that demand story isn't going to become a big factor for supporting prices? >> i think chinese economy still grows. according to imf and this will be a major part of the code but also india, united states, u.s. demand is also growing stronger. therefore we expect next year demand to grow of 1.7 billion,

the highest in the last five years. >> he thinks $20 barrel could happen. do you think that's a realistic prospect? >> anything can happen but i believe for a very long tile it may not be a very realistic option for the time being. >> nice to speak to you. thank you for joining us and congratulations on the new appointment. the executive director of the iea. back to you guys. >> thank you. we're going to go to break here on worldwide exchange. coming up on the program, a billion user dream but will windows 10 be the game changer that gets microsoft to its target? we have more at 1110 cet. ♪ ♪ (singing) you wouldn't haul a load without checking your clearance. so why would you invest without checking brokercheck?

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a crucial part of the tpp is invalid in their view of the so-called safe harbor mechanism is crucial to companies such as facebook and apple and allows them to transfer european customers personal data to the united states however the ecj has said that this data and the data agreement with the third country can't overrule the national regulators powered to suspend it. >> it's set to be another pretty

busy schedule on the third day of the conservative conference. this after u.k. chancellor george osborne announced plans to share off shares next spring while describing them as the party of labor. let's get back out to wilf. >> thank you very much. we're here at the tori party conference and i'm joined now by jacqueline gold. great to have you with us. you're here to speak at a couple of fringe events, particularly on the role of women in the work place. yesterday george osborne really tried to outline his party as being the party for working people. is it the party for working women as well? >> i think it is. i was inspired by that initiative and there's a great opportunity for the government

to engage better with working women. there's so many issues important to women and we need to be communicating to them in a way that they can relate to. >> yesterday of course was a big far reaching speech from the chancellor, lots on infrastructure and lots for big business. was there much for small and media sized businesses as well? >> this is definitely a government that supports business. that's why i wanted to put my support behind the conservatives in the first place and there were interesting things that came out of that speech. first of all, the big message was about giving local counsels responsibility and accountability for business rates. that will be interesting to see how that spans out. if they work with businesses there's a great opportunity to revitalize and i think there was a reinforcement, the reinfor reinforcement of the corporation tax, we underestimate the impact that is going to give us from a global trading opportunity and

attracting, you know, business to the u.k. >> now a big question for a lot of businesses is the europe question. as the ceo of ann summers would you rather we stayed in the european union or not? >> i personally would like to stay in the eu. i think it's much better if we as part of a big organization we are much stronger together and we can influence change if we are in it rather than if we're not. >> fair enough. a couple of questions now more specifically on ann summers and how your business is going. i wonder whether there's been any correlation in the performance and sales of ann summers along side the growth in some of these online digital dating platforms from tender to the various others. has that boosted revenue for ann summers do you think? >> the key is with any business you have to be multichannel and offer a really seamless offer and that's what we're doing.

we're very confident about our performance at the moment and it's just about keeping ahead and realizing that this is how the consumer wants the flexibility and you have to respond to it. >> you're a fan of the conservative party. which member of the cabinet is your most loyal customer. >> well, that would be telling. >> fair enough. i will allow you to take the fifth amendment on that question. thank you so much for joining us. much appreciated. that was the ceo of ann summers. >> don't we have to explain to the viewer what ann summers does if you're going to ask that question? >> most of the british viewers will know exactly what ann

summers is and on that note i'll leave it to you. >> it's a costume shop, right? >> i call it a leisure shop. it's for leisure and fun. >> it's not a coffee shop, no. >> a costume shop. halloween costume shop. >> a costume shop you said. yes it is a costume shop of sorts. >> i can't believe you asked that question but well done. thank you for that wilf. >> let's talk about breakfast. all daybreak fast begins today at mcdonald's restaurants across the u.s. they're fulfilling a long standing customer request. it will include hash browns, sausage burritos and the all important egg mcmuffin. >> are you an all daybreak fast person? >> we don't have it here in the eu. >> would you? >> do you partake in mcdonald's breakfast. >> well, i mean, our hours, if

you work the morning shift they're so messed up anyway. why not have breakfast at lunch or night because you never know what time of the day it is. >> i know what to bring you next time. a sausage egg mcmuffin. >> why not? >> european markets are taking a breather. the ftse 100 with a very modest gain. the cac 40 pushing higher to the tune of .5%. glencore up 21% yesterday. this morning, it's off a touch. >> well, that's emphasis. very spectacular. very. let's talk about futures and right now fair value telling us that the open, the implied open is pointing to a lower start for the tuesday session on wall street after the explosive gains that we saw yesterday. we have the dow seeing it's 4th best day of the year. the s&p 5th best but the implied open is telling us that the s&p

will be down six points. dow jones industrial should be lower by 24 points and the nasdaq is called lower by 18. >> russia will consider air strikes in iraq if requested. that's according to a parliamentary speaker who has been speaking to the ria news agency. so it may not be syria. it may also be iraq. >> western leaders deliver stern warnings after multiple russian incursions into turkish air space. more on that after the short break. can a business have a mind?

a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive? hello, ken jennings. i haven't seen you since that tv quiz show. hello, watson. you can see now? i can recognize people, analyze images and watch movies. well i wrote a few books, did a speaking tour, i... i've been helping people plan for retirement. and i help doctors identify cancer treatments.

is that all? i recently learned japanese... yeah, i was being sarcastic. i haven't learned sarcasm yet. i can help with that.

good tuesday morning. welcome to worldwide exchange. i'm susan lee. >> i'm carolyn roth. these are your headlines from around the world. >> out of correction, a strong rally state side helping to erase all of september's losses with the s&p on the best winning streak of the year. >> european equities failed to match the gains weighed down by basic resources. s&p slashing it's outlook for 14 european oil and gas if i recalls while glencore sinks back into the red. >> ellen coleman steps down from the helm of dupont as it cuts