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tv   Worldwide Exchange  CNBC  October 23, 2015 4:00am-5:01am EDT

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welcome. you're watching worldwide exchange. >> thank goodness it's friday. here are your headlines from around the world today. >> the global rally continues as banks stay dovish. european stocks get a boost from a solid set of factory data. we asked the ceo of ericcson about overcoming weakness in china. >> maersk sinking to the bottom of the stoxx 600 after a profit
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warning. we speak first to the ceo later on the show. and a surge in chinese tourists to europe offsets weaker demand sending shares in kering to the top of the european market. >> we also have lots of earnings coming from state side. head in the clouds. microsoft shares spike in after hours on a solid revenue beat and optimistic outlook for its cloud products. out of the jungle for amazon. shares are soaring on a surprise profit as the e-commerce giant gets a boost and the alphabet, investors are learning the alphabet. sending shares in it's parent to all time highs. >> all right. let's get straight to some data points. the euro zone composite pmi flash number and we were expecting a print of 53.7.
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we got a number higher than that. 54. so nicely beating expectations. the services flash that is 54.2. the forecast was also lower than that so easily beating on the services side and that's also something that we've seen in the german and the french numbers this morning. we got that surprise for the german private sector. the strongest growth since march. finally i want to bring you the october manufacturing pmi flash. that is a 52 and that is once again a little bit better than forecast. euro dollar gaining just a tad on the back of this. it was pretty much unchanged all morning after the decline we saw in yesterday's trading session thanks to plflt draghi and more hints for qe that could come as early as december. european markets though continuing their rally from yesterday building on to the 2 plus percent gains we saw yesterday. xetra dax rising by north of
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1.2% and cac 40 with a gain of 1.3%. ericsson missed on operating profit and sales as weak macro conditions hamper growth. maersk issuing a profit warning. kering is a bright spot though. china's tourists to europe did offset the weaker sales on the mainland. talk talk revealing a significant hack attack and cable and wireless continuing to trade higher on potential of a tie up with liberty global. stay tuned because later on the show we'll be speaking to the ceo of ericsson at 11:30 cet. and we'll be speaking to the ceo of moller maersk. joining us is european economist at morgan stanley. before we talk about the all
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important ecb message from mr. draghi yesterday. let's look at the october flash numbers. pretty good, aren't they? >> they are. some what better than expected. we got a sense of it earlier in the morning with the french numbers. also surprising to the upside and then the german numbers. looks as if this is mostly the domestic economy. the services sector while the manufacturing numbers even though they surprise too they came in on the weeks. all together it looks as if the euro zone is likely to have expanded at a similar pace at the beginning of the fourth quarter compared to the previous one but this is still below the ecb september forecast. >> got to come back to mr. draghi. he uttered those magic words what everyone wanted to hear yesterday hinting at more stimulus to come in december but the big question out there for the market is what form will that further stimulus take? what are you thinking? is it a positive rate cut?
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a part of it? more stimulus? >> we argue that the most effective combination are probably also the easier to agree would be a cut in the deposit rate combined with the faster pace of asset but the ecb has also made clear that there is a variety of options on the table including those but also looking at potentially other assets even though we think this is more difficult to agree just like an extension, especially if it's a substantial one of the qe program well into 2017 as an example. >> but why do they need to expand their qe program? from what i see they'll grow above trend for the next two years. >> that is not the most likely option. but it is one of the options that are being debated. in fact, for us, the easiest would be to cut the deposit rate and buy near term at the faster pace. this will have combined one
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effect which could be to weaken the currency which does two things. it supports growth by boosting exports and also supports the inflation by bringing important inflation into the region. >> people were surprised about how direct mario draghi was. were you? >> we have argued for the possibility of a deposit rate cut for quite sometime. even though it was the first where the ecb acknowledged that it is now a possibility. previously that either said that it either discussed that option or they had reached the lower bound when it comes to interest rate but now they are reassessing because global economic conditions are change. >> but i'm just thinking that, let's say the fed were to hike in the month of december, wouldn't that be a much bigger stimulus than anything that the ekb could potentially do in the month of december because that would automatically mean that the euro dollar exchange rate is going to go lower.
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shouldn't we just be waiting for that? >> that's a consideration too but the ecb will have to meet before the fed. just like it happened in september and so it could be some degree of dovishness. including the fed first and foremost but also because of the specific situation of the euro zone where the inflation path seems to be undershooting expectations compared to what the ecb is projecting at the moment and also to some degree also the growth path even though numbers suggest that it's not that big when it comes to economic activity. at least for now. >> okay. we're going to have to leave it here. thank you for your time. appreciate it. european economist at morgan stanley. some very sad news this morning coming from france, specifically from the region where we saw a
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terrible bus crash. they crashed in the early hours of the morning. 42 people were killed. that is according to the french president who has been speaking from an event in athens. 42 killed. several people were seriously injured in the crash between the truck and the bus and mr. hollande is confirming that three ministers will visit the scene of the accident on friday. >> let's move on and get back to some business news as we try to get more news on that tragedy in france. but, you know, we have microsoft shares in focus today during the regular session after it popped more than 7% in the after hours after they soared past projections with adjusted earnings of 67 cents a share. the companies cloud unit really helping it's bottom line. see an 8% jump in sales last quarter compared to the same period last year. however the company announced more job cuts. a thousand more jobs to go. that's in addition to the 6700
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lay offs announced in late july and shares of microsoft up 8% in after hours. amazon trading sharply higher in frankfurt after third quarter earnings beat thanks to strength in it's cloud services and john is here to report on amazon's later profit numbers. >> sending the stock up after hours they turned in revenue of $25.4 billion. that's better than 24.9 billion expected and wall street was looking for a loss of 13 cents. got a profit of about 17 cents. the guide was also relatively strong. amazon tends to be a bit conservative on its guidance range. guided to q-4. that's the holiday quarter revenue above the $35.1 billion that the street was looking for, at least at the high end. 36.75 at the high end of amazon's guide.
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operating income was also at the high end of their guide. a little better than what analysts was looking for. that was enough to send the stock higher when combined with the cloud engine that was more profitable on an operating business than people expected. that also experienced strong growth. analysts looking for that to clock in just under $2 billion in the quarter. it was over $2 billion clocking in at $2.1 billion. management said to be careful about assuming the exact same clip would continue in that saying the progress would be lumpy but they expect the growth generally to continue. also highlighting areas in india and china where they're experiencing strong growth and saying that third party sellers on their platform now constitute 46% of overall sales and that that's growing in large part because of prime and fulfillment by amazon where with amazon takes those third party products into their own warehouses and
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delivers them. costs are higher as amazon continues to invest in that delivery infrastructure but growth is high too so investors don't seem to mind. for cnbc, i'm john fort. >> busy after hours earnings from technology companies including another tech titan staging a rally. google and it's parent company alphabet after they reorganized this summer posted strong profits and announced a mega share buy back. josh lipton has more. >> this was the first time alphabet reported results since it's announcement in august revealing this new corporate structure and this report was one for the bulls. the stock shooting higher in the after hours. that as the company reported q-3 eps of 7:35 on revenue of 18.7 billion and that was a beat on the bottom and the top. drilling down costs per click or what advertisers pay the company when users click on an ad did drop 11% but paid clicks climbed
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23% and that was way more than analysts predicted. the big news wasn't that the company had to say about the bottom or the top, it was capital return. the company plans to buy back some $5.1 billion in class c stock and q-4. remember when the new ceo came to her role at the company the street applauded in part because it was thought she would put in place a new capital return program and now they have it and turning ahead in q-4 saying that the company will break out revenue and profitability of google separately from the company's big other ambitious projects and that should give analysts and investors more clarity into the business and something bulls have been clammering for. >> yeah, the new cfo there at alphabet saying the highlight was strong search revenue. and that was called into question. that's the knock on alphabet.
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that's what it's called is can you monetize off basically mobile clicks and can you cut down on costs and that's something that they proved in this third quarter and a record high now for the shares. >> the share buy back was completely unexpected. $5.1 billion. did you know and i didn't know that myself, but did you know that that's the square route of 26 and 26 is the number of letters in the alphabet. >> sounds very -- >> yeah. both of these companies when talking about amazon and alphabet and google they have stellar growth rates even though they're value companies. they're so profitable and able to return cash yet at the same time we're seeing massive growth numbers in the cloud for amazon in add revenue and that's very unique. >> i think alphabet in this case they have $75 billion of cash on the balance sheet so kind of
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like apple which is holding close to 200 billion you have to do something with it. especially if you're a shareholder and financial engineering, the share buy back also boosts up your earnings per quarter because you're shrinking the pool of shares on offer eps doesn't get diluted so much. so this is also a way to make their numbers and their balance sheets look good going forward. >> it's always pretty good trick but as josh lipton there said, we now have a lot better visibility in how they can actually finance those moon shots. everything that alphabet is aiming for. now the tech rally put facebook on track to open in triple digits for the first time ever today. would you be a buyer or a seller? if you want to join the conversation get in touch with us by e-mail worldwide@cnbc.com. >> does it matter that facebook is at triple digits? alphabet is trading at 700? microsoft isn't far off from triple digits either.
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so i don't know what the significance is. but i guess okay so for the average person you have to split these shares when they get too expensive like what apple does. so i guess at $100 for facebook. is that the reach for the average investor out there? still to come on the program, forget the german bund. are we forgetting the german bund today? that would be sad for you. >> it would be. >> but we're doing the bond. we're talking a different type of bond after this break. one with a license to thrill. how much will spectre yield at the box office? we'll discuss that. that comes your way next.
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he has spent the week eating meals. dining in style with the king and visiting a football academy. however he closed his trip with a trip to the local. the pair enjoyed a pint of green king and a fish and chips supper. cameron paid for the dinner with a 10 pound note and described
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the meal as being very good. business deals were also on the menu as chinese president xi jinping concluded the state tour. eunice yoon has been tracking railway ambitions and joining us now. what better way to water down a long trip to the u.k. than with a pint of beer and fish and chips. >> yeah, that's right. some type of rail deal. that would be nice. no, so what we're see as good that the chinese president is going to be capping off his four day state visit with a trip to northern england and this doesn't come as too much of a surprise because george osborne was here in china a few weeks ago talking up the initiative which is called the northern power house and the idea is to rejuvenate parts of the economy
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in the north by strengthening the infrastructure and connecting it to the more economically powerful southeast. it's a similar initiative we see here in china in the far west. >> when you hear made in china, most people think of this but beijing is thinking more people think of one of these. china has the largest rail network in the world. it's companies built 16,000 kilometers of track. connecting parts of the countries to the big cities. >> this train is part of a newly constructed line that crosses the expanse of the desert. the average speed is supposed to be 200 kilometers an hour and is meant to cut the travel time to various cities in half. >> now beijing wants to use it's know how to engage in infrastructure diplomacy. china's president is on a four day state visit to the u.k. at a time when britain is courting beijing to invest in an $18 billion high speed rail project
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linking london with northern cities. the trip comes after chinese train maker crrc agreed to build a similar high speed line to this one in the u.s. between los angeles and las vegas and after they bested traditional train maker tokyo to sign a $5.5 billion deal for indonesia's first high speed railway. >> if the chinese assisted projects are safe and durable for the long-term it will generate good will for china and better recognition as china has transformed itself and is able to work with other companies to share the benefits. >> but there's a lot of risks for china. it's economy is slowing. the health of the financial sector is less certain and there's no guarentees beijing will win friends with it's funding. it also faces criticism over it's safety record because of high profile crashes in the past. still, beijing is taking a long view hoping all the investments
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will help it's companies find new markets. >> based on all of these added advantages and competitiveness from the chinese economy, the chinese corporates can now look at the world and find new positions for themselves. >> to seattle a new role in the world for china. >> players on both sides are not only hoping for deals in rail but also in flights. expectations are that they're going to announce a new direct flight from here all the way to manchester city just to better cement those ties between the u. k. and china. guys. >> they're going to play football pretty soon from what i understand manchester queue nighted. something fun to talk about this weekend. you have a good time. >> and susan i want to show you what's going on in the bond markets because we saw that huge reaction yesterday. that huge rally in bond prices on the back of the dovish
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comments coming from mr. draghi. more mixed this morning but the bund yield at 51.3 basis points. we saw that dropping by five basis points yesterday. the bigger reaction was in the italian and spanish paper. we saw those dropping by ten basis points but i also want to show you what's happening with the two year space. the more rate sensitive space. we're seeing that the yield for the spanish two year, the italian two year and the two year german now in negative territory. for the spanish and the italian, that's just back in positive territory. now we saw that dropping into negative for the first time ever and the two year german yield is at negative 0.31%. so all thanks to mr. draghi. now the ecb president not only signalled further qe in december but also negative rates. take a listen. >> further lowering of the rate was indeed discussed. it's one of the instruments of monetary policy that i referred
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to when i said all instruments have been discussed. i would say there were a few members of the governing counsel which hinted at the possibility of acting today but i wouldn't say it was a prevailing theme of our discussion today. >> but the former board member played down the chances of a december move. >> i think it's very smart in the sense that he said there are few that mentioned they should act together. so this is giving to the markets the indication that things can happen. not yet right now and the most relevant indication is the possibility to reduce the deposit rate which is something he didn't mention which is another instrument just to hint to the market that things can happen.
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maybe not right now. i'm not sure it will happen within the next few weeks or months but it can come if the euro starts strengthening again. in my impression he's trying to talk right now and if this will not be enough maybe in a few months then it will take some action. i'm not sure december will be really that date, the key date. >> so it seems like december is going to be a really big month for the markets even though liquidity is a lot lower and that's why many market participants don't expect the fed to hike in the month of december and right now the market pricing only in a one third chance of a hike in december. so with that low liquidity a lot of people say including rbc this morning that the fed must do a much better job of signaling whether it wants to hike in december or not if it intends to do that to make sure that the market is on its side. >> right now, one third probability when it comes to the october 28th meeting which fed officials have said is a live
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meeting. only 6% probability being priced in but there's some die version i would say around global economies and central policy makers. what happen ifs the fed is tightening and we have easing from the ecb and japan and the boj? and also isn't this dictating to the markets that it peels like this is just predicated and financial markets are predicated on this addiction to monetary stimulus. does the ecb need to ease more? we're growing above trend from what i see in fiscal 2016 and 2017. >> above the trend? i'll not so sure. 0.4%. >> 1.5% rates is above trend right now for euro zone economies and that's what economists have forecast and a lot of the commentators said do we need more quantitative easing or stimulus in the euro zone. >> that's low effectiveness. that's your pointened something we'll see if it's extended.
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>> a lot of people said it may be politically moet vatd and doesn't want to be considered that it has any political sway, right. >> yeah. >> so 2016, very tricky year. >> yeah, when do we get off the zero pound? still a long ways off it seems. still to come on the program, talk, talk attack. do you want to figure out how the british firm became the latest victim of cyber security.
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market. also coming up on the program head in the clouds. microsoft shares spiking after hours on a solid revenue beat and an optimistic out look. shares soar on a surprise profit as the e-commerce titan gets a boost from the home market. a profit beat from googles parent and sending shares to an all time high. we're gaining once again. rallying up 1.3%.
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u.k. ftse 100 seeing minimal gains up .6%. >> a mixed picture for at&t. they topped earnings expectations but fell shy of revenues forecast. they continue to work through the integration which at&t acquired back in july. at&t reporting a net loss of 66,000 video subscribers in the third quarter although directv added 26,000 subscribers. they're raising forecasts on the expectations that there will be more cost savings from its acquisition. shares in cable and wireless are still sharply higher as the company confirms it is in talk with john malone owned liberty global. they own virgin media and the u.k. and has a stake in broadcaster itv and is looking to expand it's reach in the caribbean where cable and wireless has a strong foothold. this comes after talks about european asset swaps currently
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at cable wireless up by 9.7%. >> talk talk is trading lower today after it suffered a significant and sustained cyberattack on its website. the company which has over 4 million u.k. subscribers said that customer credit cards and banking details could have been accessed but it's too early to know exactly what data has been stolen so far. >> the italian treasury has priced the countries post office ipo at six euros, 75 cents a share in the privatization of the state owned postal service. it expects to raise 3.4 billion euros according to the economy minister. and shares of maersk trading lower today. last trade is down by 8.3% after it downgraded the profit outlook for 2015 by more than half a billion dollars. global market conditions have been weaker than the group had expected and we'll be speaking to the ceo at 11:10 cet.
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i can't help but wonder when we last spoke to the ceo, he said something, he said the asia to europe trade, that is the single biggest trade. that's 40% of their total volume and he said that business or that line is simply not performing well. in part because of the devaluations in the euro but wasn't that a very, very strong signal coming from the company? so the market should have been primed for this and i think that's something pointed out this morning. we sort of knew that a profit downgrade was coming. we were just surprised by the extent of it today. >> the 3 or $4 billion on the top end was expected. they'll come in a little bit light of that. maybe it is a slow down that's worse than expected. we know that china and the trade to china has been declining since we are in slow down mode.
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maybe less than 7% gdp growth this year and maersk they're saying also it's a global issue right now. they're seeing weakness around the world. not just specifically in china even though that makes up a big portion of the revenue. it's not surprising that global trade is slowing down to the asia roots we have been pointing out. >> but they're also an oil producer which people tend to forget. it's a smaller business than the shipping line and that's also where their experiencing a lot of trouble because the continued drop in oil prices but they also told louisa that they're not reigning back activity. >> but shouldn't the drop in oil price also help them out with their costs. >> it is good. >> nod enough. >> it's a smaller effect. absolutely. >> we're going to check in on electrolux. shares are trading higher today after third quarter profits came in above analyst estimates. sales rose 8.7% in the last quarter compared to the same time period in 2014.
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meantime, the swedish company still awaiting a decision for the u.s. department of justice over the proposed acquisition of ge's appliance business. let's get the latest from russia and russia's president vladimir putin said that the rouble rate stabilize oil price volatility. speaking to a panel in sochi putin urged that closer attention be paid to the country. he applauded them for doing so quite confidently. cnbc spoke with the ceo of russia's largest lender and asked hill about the external factors challenging the countries economy and banking system. >> the past year was an extremely tough year for both russia and for the russian banking sector due to the fact that three very complicated themes occurred simultaneously in the russian macro economy which had a dramatic impact on the russian economy. first of all, accumulated structural problems and a
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slowing economic growth. secondly, there has been a radical drop in the price of oil by more than half and thirdly the geopolitical situations. the sanctions and events concerning ukraine. all factors have obviously hit painfully the russian economy and we're expecting results of minus 3.6 to 3.8% yet the next year in our opinion is going to be much better even if oil prices remain the same. it's likely no economic growth will happen next year. it will be around zero. it might decrease or increase slightly but no dramatically bad situation is expected. the situation for the banking sector will improve significantly next year because this year was the toughest year for banks and banks won't really make any profits this year. next year will be the year when
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they should resume making profits. concerning the relationships, of course it will depend on how in the first place the ukrainian issue is going to be settled. we are all happy now that at least there's no war in ukraine and that's quite an achievement for all parties. in my opinion it was lowest point and it is overcome. >> you are a business man first and foremost but i know you have to take notice of these trends in international politics. you crane was obviously the key issue that damaged the relationship in 2014 and coming into this year. are you worried that syria and the difference of opinion with washington and the eu that moscow has could be the issue that damages the relationship running into 2016?
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>> it will depend on whether we learn from the conflict but that situation is developing and the parties are engaging with one another. i have a clear understanding that if we don't learn our lessons we won't be able to improve our relationship. albert einstein once famously said instanty is doing the same thing over and over again and expecting different results. if we don't change the model of our behavior, if we don't increase our emotional intelligence in our relationships rapidly then unfortunately repeating the worst case is possible. i feel that all parties have to draw conclusions and avoid getting involved in the pattern of behavior in the previous century which can lead to the cold war. we have to change the pattern of our behavior. this is the responsibility of our generation before the next generation in order to avoid repeating the same situation. i believe that we understand this very well today and that we will be able to avoid that. >> still to come on the program,
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we talk of luxury and caring. find out how it's defining the china slow down. stay with us.
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>> sales from kering fashion division rose year on year. tourists helped offset weakness in mainland china. let's get out to the analyst at exxon that joins us. thank you for taking the time. why is it that kering is defying the gloom of the sector? we heard from the likes of lvmh and they all saw a huge anythnee impact from china. what are they doing differently? >> there's a reason here. there were disappointments against higher expectations and the good news was that the expectations were quite muted. the organic growth seemed to be at minus 0.5% or there about so
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this was significantly less than the 5% expected from the passion and leather goods division at lvmh so i'm not saying this is all technical. they are certainly on a recovery trajectory and they're doing quite a lot of new things which are very encouraging except most of the results are not yet in the numbers and it could match the muted expectations the market had. >> i want to stick with gucci for a little while here. they account for roughly one third of the revenues of the total group. they've got a new designer. they want to refresh their store network. as you say, this is certainly going to take time. when exactly can we expect to see the fruits of that labor. >> starting to see the fact in the fourth quarter when the winter collection that was partially designed will hit the stores. the bulk of the ill pact is
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going to be in the first half of next year when we will see the spring-summer collection which has been entirely designed by him as well as the roll out of the new design for the stores. it's probably going to be the inflection point for organic growth at the gucci brand. >> i would argue that kering saw strength with the puma division growing. this was a drag for kering for a long time but now puma seems to be performing for them. >> that is certainly welcome news. there were very, very little expectations on puma and we see a number of investors that have given up home on puma. they were strong updates and this is icing on the cake. the fact that they deliver organic growth seems to indicate
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improvement in the company is possible and potentially kering could consider although this is pure speculation a separation of luxury and lifestyle down the road. this would be taken by the parent as a very strong positive. >> finally, what's your topic in the sector? everyone is suffering from the china effect. do you like kering more than others because they seem to be doing better? >> as far as the investment opportunities in the sector we need to be more selective. the softer growth in 2016 therefore if we find stories that seem to be underappreciated by the market that is possibly a good place to hide. we also like high quality names that suffer from lower valuation levels. >> thank you so much for that.
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>> all right. there are a lot of luxury brands. hours to go until the release of spectre set to hit movie theaters on monday. daniel craig stars along side bond girls. expectations are pretty high for 007 this week after the previous film skyfall took in over a billion dollars at the global box office and that by the way made it the most successful british movie of all time. so let's talk movies. good to see you. >> hi guys. >> you're excited. >> very excited it's coming out. >> so yeah we to have the premiere this sunday. >> monday. >> that's right. daniel craig will be starring again. another offering of james bond. how does this one differ from say skyfall and the rest of the franchise? >> the production company hoping
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it wasn't differ. if you look at the numbers that skyfall took compared with quantum of solace, doubling their box office they're hoping to do the same which is why they brought back sam mendez to direct. they're hoping it's going to be a big film and the brands as well. >> heineken was rumored to pay $45 million to get daniel craig to drink a beer instead of a vodka martini. >> shaken not stirred. >> apparently it's going to happen again. >> it's come out already and daniel craig, that's right, james bond. it's not daniel craig. james bond is holding a bottle of heineken in the movie and drinking that and obviously worked for heineken in the first film because they have come back on the second. >> maybe it works for the firms but for the viewers i personally found it a little cringe worthy at times to watch the product placement. it felt like a little bit too
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much. maybe because it was new to the industry but it was very, very obvious when they were talking about the car, when they were looking at the heineken glass. do you think that you're alienating some of the viewers with that. >> you're right. if it's that obvious that you notice it and it takes you out of the movie experience. because we go for escapism. if that takes you out of it it isn't working and you come away with negative thoughts but with what they're doing with the new bond and product placement and bond have been going hand in hand. >> i don't think it's having that bad of an effect. if so why did we just describe skyfall as the most successful british film of all time. box office take says people do not care if you make him wear i don't care a watch. >> they like the james bond movie. they like the franchise but still i talked to a lot of people, i don't think it's just me that thought wow this product placement is getting a little
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intense. >> i think they're talking about they have done this. product placement works best. it's doing no one favors if they're that way. it works best in a very subtle way and bond is a very global property which brands want to get behind and they'll find a way to partner no matter what. >> can you quantify the impact that it's having on the brands? is there a pick up in sales for example? >> there are several partners that paid to be associated with bond and several that were there because of directors choice. if you look at the jacket he wears at the end of sky fall. that sold out before the film came out and went on ebay for five times the retail value. >> i want to see that jacket. >> but also the razor apparently. the throat razor sold out. the sales were exponential. >> exactly. the whole concept of shaving
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with a cut throat razor, the whole concept of that, the companies who sell those saw an up tick in sales as did whiskey when it's referenced as him drinking whiskey. so they do benefit. >> that's why you pay for it, right? thank you so much. i can't wait to see it. director director at seesaw. high drama on capitol hill yesterday. 11 hours of testimony from democratic presidential front runner hillary clinton and some say she successfully survived the marathon. this congressional hearing on her handling of the 2012 benghazi attack during her time as secretary of state. andrea mitchell reports. >> it was supposed to be about benghazi but went into bickering. >> i can't care if he sent it by morris code, carrier pigeon,
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smoke pigeon. >> will the gentleman yield. >> i will but you need to make sure that the entire record is correct. >> this time hillary clinton was poised and practiced pushing back with put downs. >> a wrote a whole chapter about this in my book hard choices. i'd be glad to send it to you. i'm sorry it doesn't fit your narrative. i can only tell you what the facts were. >> at other times her face said it all. laughing off unwelcome suggestions. showing impatience, irritation or scorn. reflecting days of preparation at home sent off to battle this morning by her husband bill. the republicans were also armed and ready. >> happy to bring breakfast in but when we ask a yes or no question it would be helpful if we could get to the answer. it wasn't a trick question at
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all. >> they were concerned that the amount of credit you were getting as opposed to the amount of credit the president is getting. that's true, isn't it? >> the president deserves the credit. >> then why is the white house uptight that you're taking the credit. >> and controversy of current clinton political aid barred by the obama white house from working at her state department but sending private advice about libya to her private e-mail account. >> and madam secretary he had access to you. >> i don't know what this line of questioning does to help us get to the bottom of the deaths of four americans. >> i'll be happy to help you understand that madame secretary. >> it was clinton that spent the most time talking about the victims of the attack. >> i would imagine i thought more about what happened than all of you put together. i've lost more sleep than all of you put together. >> information officer and air force veteran sean smith, cia officers tyrone woods and glenn
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doherty and ambassador chris stevens. >> i stood next to president obama as marines carried his casket and those of the other three americans off the plane at andrew's air force base. >> clinton has been here now all day into the night testifying she never received requests for more security from chris stevens although the ambassador made those requests, hundreds of them to security officials but for all the talk about hillary clinton's e-mails she did most of her business off line in classified briefings and didn't even have a computer in her state department office. >> yeah, compose 11 hours of testimony under fire from this congressional security panel. and really looking composed. stark difference to her testimony in 2013 where she seemed a little irritated and at points retaliating but this time around since she won the first democratic presidential debate. joe biden is out of the race. she also had a lot riding on this.
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by the way, this appearance on national television. international television to keep this momentum going and i would say from what i heard there wasn't that much of a smoking gun in terms of her handling of benghazi. they even brought up the e-mail debate once again which some say this is a republican witch hunt which continues to go after hilary chin on the. you know -- >> she was pretty fiesty and very experienced. >> very composed. >> but very aggressive too when it came to some of the aggressive questioning and she was very honest too and i like some of the quotes. i've lost more sleep than all of you put together. i've been racking my brain about what could have been done, should have been done. so that honesty too especially after that e-mail scandal i think that will only help her. i guess she dealt with it pretty well. as well as she could have done right. >> i like that statement when she says i probably spent more time thinking about this and more time revisiting this than any of you on this panel. it showed she has compassion and
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human elements. >> it does. >> which she has been criticized for in the past. >> it comes down the trust and likeability and she has scored on that the last two weeks or so. moving on, ericson missed on the operating profit and sales line in the third quarter as weaker macro conditions hamper growth. also under pressure after issuing a profit warning and negative outlook on global trade levels. kering is a bright spot. chinese tourists to europe offset weaker sales on mainland. talktalk at the bottom of the stoxx 600 after a significant hack attack though and cable and wireless continuing to trade higher. cable and wireless up by 9.3%. we'll be speaking to the ceo coming up at 11:30 cet and that is another first on cnbc and we'll also be chatting to the ceo of maersk.
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that's at 11:10 cet. so better if you don't change the channel at all. let's get back to sports too. the semifinals of the rugby world cup kick off this weekend with two mouth watering clashes to look forward to. the spring box will face them in the first semifinal tomorrow while argentina faces australia on sunday. it's the first time in the rugby world cup history that all four teams in the semis are from the southern hemisphere. >> i didn't know that. >> we have to learn. might take awhile. still to come on the program, storm clouds are battling as internet themes are heating up on log in and download. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets
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and drive forward with broader possibilities. cme group: how the world advances.
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thank goodness it's friday. welcome to worldwide exchange. >> these are your headlines from around the world. >> head in the clouds. microsoft shares are spiking in after hours on a solid revenue beat and an optimistic outlook for its cloud products. >> out of the jungle for amazon. shares soar on a surprise profit after the e-commerce titan gets a boost. >> we're learning the alphabet today. investors are cheering a share buy back and profit beat sending shares in alphabet up to an all time high.

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