very good to see you. welcome to "street signs." i'm steve sedgwick and these are your headlines. no deal in doha. prices fall as saudi arabia discovers a deal in tensions with tehran. oil stocks lead the way lower in europe following sharp declines on the nikkei as japanese manufacturers shot the doors off a series of deadly earthquakes. and looking to impeach the

president rousoff who now faces the senate. so let's take a look at how the european markets are currently faring. we have broad declines across the board, but quite tempered compared to the worst levels pre-market. the ftse 100 has its fair share of large oil majors including the likes of shell and bp, currently down .50%. similar to the xetra dax. there is concern about the italian banks and the rescue down .40%. we'll see if this is the worst. yes, clearly, the oil and gas sector down 2%, the biggest declining sector.

tr travel and leisure up .90%. people are expecting lower aviation, auto is lower in the current session. we'll look at the individual oil names, we have total down 2.3%. shell and bp down 2.7% and 2.1% respectively as well. similar declines for all the oil majors. why? because crude prices are trading sharply lower as global oil fails to produce a freeze in doha. saudi arabia reportedly blocked the deal because iran was not at the table. hang on a second, you're asking. we knew iran wasn't going to be at the table. so how are they going to explain to us just what happened? is this, hadley, about a war, a cold war or a verbal war between iran and saudi? or is this about internal saudi

politics? or is there something else going on or all of the above? >> reporter: i think all of the above. certainly, talking to folks here on the ground in qatar, we started at 7:30 and didn't stop until the evening. we saw a lot of bright faces coming into this. a lot of good intentions were here, why else would oil producers fly to doha looking for a deal, even if they would get some kind of agreement to move forward on this. but certainly the saudis came to the table and said we will not agree on the agreement, we're going to change the language, iran has to come to the table. and that seems like it was coming straight from the prince of saudi arabia. take a listen to what the nigerian had to say. >> basically the fundamentals

are dominate iing the last few months or so. so we expect the response to be more of a positive response and not be about sentiment. >> reporter: we are told the meeting became quite hated itself. you have to remember some of these guys came halfway around the world. something i asked the qatar minister, i said, aren't you worried about prices? take a listen. >> in the absence of iran,

unless iran can get to go with the general pact, it won't be effective. it was clear that unless you had anybody in the ballpark, we are not all agreeing with the way it was written and it is a full freeze until everyone is involved. >> right. it seems like we had a little bit coming out of that. we'll go back to hadley later. what do you think this means? >> to be honest, i'm not surprised at all. you look at the decisions the saudis have taken, they were stuck in many ways. it is impossible to not let iran be a part of it because it did take into account the freeze. prices probably would have

gotten support. you would have had a hard time balancing the markets down the road. but now saudi arabia stuck to the original strategy and now you're probably going to see the balancing of physical supply and demand to happen eventually now. >> talk about this, in terms of what is at play here between iran and saudi, they knew the iranians would never ever agree to this until they get to the production numbers they built as their market share. we know the iranians have about 150 billion barrels worth in the ground and need every petro dollar to reinvent their economy. the saudis created this situation, i'm surprised they didn't see it through. is this a deal between them? >> i agree the saudis knew about it. everyone was expecting iran not

to cut back, not to join this freeze. so i think they were aware of this. i don't think it's just about the change in structure. i'm with you with the fact that he is a much more important player now as other ministries. >> tell me about bin salah, he seems in control from mr. naimi. >> he's definitely more in charge of things in saudi arabia. but a naimi strategy since november 14 is not too different from what prince bin saleh has pushed for. all we have seen is for a moment prince bin saleh has pushed for. >> so this intervention got us to where we are right now, so

despite what we are seeing, it had been as low as a 26 handle at its lows this year. so the verbal intervention has gotten us to this level. and you're talking about the natural rebalancing between the low levels of supply and demand. do they need to do anything now? they've got it up. do they have to leave it? walk away from the deal, we got the price up and it should sustain itself? >> i don't think it will stay up there. for a moment, the intervention had to be properly priced but investors are looking into a bullish sentiment. and now the investors will get nervous, they will probably get out of this position, which are pretty much based on the pretect of potentially having a freeze with iran and now it's not in place. >> so this was pushed way beyond the fundamentals, you are

thinking it will be a reversal of trade and we're asking on "squawk box" where it is headed. i'll ask you that question. >> we have seen an outtick in nigeria. investors who are basing this rally have bullish positions on this particular meeting have a verdict and will likely escape on these positions. we will see oil prices go down. maybe not again but where they are now is not justified. you will probably see something near $335 very soon. >> and demand, every oil interview, and i am the biggest culprit here, we talk about supply, supply, supply and there's the demand question. so i have to get my demand question in as well, has it picked up at lower levels? >> it did pick up in 2015. if you look at 2016, it's not a

big picture. india, spectacular so far. they are definitely enjoying the effects of the oil prices. the u.s. was quite weak in the first three months. it has slightly picked up but we are still not confident that will definitely remain in the momentum. overall the global demand are not as -- we still expect growth in demand. probably not what you are suggesting, 1.1, 1.2, but maybe a million barrels per day as china is not showing strong growth in produce yet. >> thank you for joining us, the oil and gas analyst at natixis. at cnbc this week we're discussing what europe needs a bit of swagger, confidence, it's been no easy ride this decade with economists across the continent seeking a series of

crises, bailouts and summits. you know about those, don't you? one man who thinks europe has a lot of work to do is the chairman of ubs that told cnbc that europe needs a fresh direction. and that it's, quote, backward looking leaders are losing support. let's listen to him. >> european leadership should give european people an idea that europe is worth having and fighting for. what unfortunately has happened over the recent years is that in some of these crises firefighting modes, european populations have lost their confidence. divisions are what used to be positive about europe. europe needs to take their own people on board again and give them a view of europe that is a positive one where europe for its own benefit can be much more influential and much more powerful where it's just not seeing that happen. they need a new agenda and vision for europe. unfortunately what we're seeing

is more isolist behavior. instead of ratcheting in the integration they have achieved, there's a setback with more in-looking policies and more divisive policies and people are trying to re-erect fences and borders, which i think is the wrong direction. >> are we being led in the wrong direction by business leaders and political leaders? we'll ask an influential voice, yanik, thank you for joining me. let me pick up on the point there, we need firm leadership. lead us in the right direction as well. there's a lot of question marks on whether europe is headed in the right direction. gosh, how many years after the lehman brothers -- seven years down the road, we are not seeing the leadership to get them down the path to get us out of this mess. >> it has been two months now people are asking themselves a

lot of questions. what struck me the most is what is happening across the european country. they are blaming europe for unemployment and other crises in the world. the question is where europe is going. i think we all believe europe is a necessity. i don't think we have an option to go with europe when you see what is all going on in the world, we need to have a strong economy in the large economic zone. the question now is not about the strategy but more about the execution. you're right to say that leadership matters a lot in terms of execution. >> in terms of that populism, is it a right in populism or that our political leaders have become more detached from reality. populism is being seen as a reaction to a lot of the policies. but actually at the politicians moving one way and the people are deciding, that's not what we

want and what we need. >> it is interesting, if you look at what is happening in the united states with the election, people want to move away from, let's say traditional political parties. my feeling is that people don't trust anymore, traditional parties to be the solution of their need. so it's important to find a way to combine politics. we see this in society and we find new ways of leadership. but i agree with you, populism could be one of the consequences. but if youing will at history, if you look at history, people are suffering because of unemployment and don't believe in this, we can see the right of populism. you're right to say, and i do believe if we find the right leaders to lead the show, populism will go down. that happened in france years ago when mr. sarkozy was out the

there, so it will depend on who is going to be presented on to be elected. >> you don't paint a picture to me that says, maybe i'm wrong in your interpretation, but are things going to change soon? in fact, i think we'll see sis faction with the current set of leaders and more in the rise of populism, which says more concern for the market, more concern for the people unless execution of that strategy, which you said doesn't need changing, it's the execution that needs to be sorted out properly now. >> well, i do believe -- i don't necessarily agree. i think we are at the tipping point. when you look what happened yesterday in brazil with the execution of youssef, people are disappointed on how discontent the people were. not about the economic crisis there but the corruption scandal led by a company. so i do believe in france and europe and even in the u.k.,

things can change rapidly. so we should not believe that things are here for the eternity. things can move, things can change. people have the power with the vote to change things. >> but you mentioned brazil, over 300 deputies are being accused of some form of corruption. that's a majority of delegates as well. i don't see how -- one of your rivals said he's very enthusiastic about brazil over the longer term as well. and yet when you have most politicians being accused of something at the moment, that doesn't say to me we have the foundation for a recovery or for a belief that populism can win and replace government with something better. >> i think in brazil, like everywhere in europe and in the u.s., i would say have the feeling like history is holding its breath. we can see in the year to come, things will change a lot. i mean, there are so many moving pieces when you look at the ukraine crisis and the consequences with russia. when you look at the war in iraq

creating this massive refugee crisis in europe, changing the dem grasographics in europe. when you look at what is happening in brazil. when you look at -- i'm sorry, this is a big thing here. and we should not underestimate the consequences in europe. i think certain things are changing a lot. so i will be more welcome to answer your question in a year. >> we'll come back to that, it's something you feel passionate about as well. we'll talk about how this is not just a problem for the british as well in a moment's time. yannick bollore, thank you for joining us. if you want to get in touch with us, streetsignseurope@cnbc.com. and @streetsignscbs. and caixa bank is offering

one euro per share and hopes to see 35 million euros per year. we'll take a look at how the share is performing, caixabank is down 2.58%. the imf is raising a lot of concerns at the moment. who is it about at this time? this is ahead of the meeting in washington. julia caught up with portugal's finance minister and asked him whether he would consider a bad bank. >> we are looking very carefully and -- into the banking sector. we know that there's something that we need to do to stabilize the banking economy. this is very important to portuguese banking sector. we are looking to a solution

that may reduce mpos in the banking sector. we are doing that, of course, in the context of the current regulations. this is something that other countries in europe are also tackling. and this is the context. so, yes, we want to stabilize and work towards the stabilization of the banking sector and the framework that we have. >> is there risk that the taxpayers' money is used? >> well, this is not in the baseline. so what we are looking at is a solution that does not include using taxpayer money to do that. which, again, is something that is natural given the regulatory context that we live in europe. that prevents that to be the case. >> because i think investors are

concerned given what happened with bankers that there is a risk of the bail-in of the new operating rules in europe. is that a risk? >> all countries in europe prepare to the new regulatory environment that is being fully implemented in the context of the brrd in 2016. the new rules for bailing are very clear. and we think that right now and given the situation of the banking sector in portugal, we need to avoid that. >> and let's stay with the banks. hsbc says they might stand down in two years. what do you think of that? according to the "british times" they have begun to compile a

list of candidates to replace the ceo. hsbc declined to comment on the story. coming up, we'll cross to asia to find out how much the earthquake in japan is hitting the country's exporters in today's session.

at least 272 people have died in ecuador and more than 2,000 are injured after a 7.8 magnitude earthquake struck the country on saturday. the coastal region was left devastated with lost buildings and roads being ripped apart. firefighters spent the weekend helping survivors to safety as they tried to control the damage. japan's nikkei has dropped sharply in the series of earthquakes leading to 42 deaths so far. they struck a manufacturing hub

in the country's south and several major companies have closed their factories as a result. let's get the latest from japan now, and indeed from the broader region, pauline joining us in singapore. pauline, how much of a decline of the nikkei was really about domestic events today? >> a good portion of that because of the manufacturing that had to be stopped at the major companies, steve. let's take a look at the nikkei because they did feel the most heat in the region in the asian region. the nikkei 225 feeling the most pressure down 3.4%. oil was down 6% at the beginning of the session and did dane ground during the asia session. but it was not just that but the earthquake as well. this second earthquake occurred on saturday in the same area of southwestern japan. as a result, some of the major

companies had to stop production. also, the third factor, not just oil and earthquake but the yen strengthened. investors going to the safe haven of the yen. that weighed on the nikkei. we'll look at the big companies in japan impacted today. for example, sony down 6.8%. they said that their image sensor plans in this quake region would be idle. toyota down 4.8%. they had to suspend car production because of supply chain issues in this area. this will affect the models like prius and the land cruiser as well as the lexus. honda also down 2.9%. they said their motorcycle plant in kumamoto which is in southwestern japan also had to stop production. the only sector in the nikkei showing gains was the construction sector. now let's take a look at the currencies. dollar/yen right now is at 1.08. we did see the yen strengthen at the beginning of the session but then we saw the pressure ease. it's at 1.08 but this is not where the boj wants the yen at

the moment. keep in mind that since february after the boj induced negative rates, instead of weakening, the yen has strengthened 11% against the u.s. dollar, steve. so the important level to watch is whether or not it hits at 1.05. if it hits 1.05, we should expect perhaps more dollar buying by the bank of japan. but right now it's at 108. we'll have to watch what the boj says and does at the next meeting in ten days from now. steve? pauline, thank you very much for that report. let's head to china. julia chatney caught up with the finance minister who explained why 2016 is an absolutely key year for the economy. >> 2016 is very key for china and for sentiment. this year will be the year to

infuse our plan. it is very important for economic growth. so we have had people approve the report. we set up gdp from 6.5% to 7%. this for china is not very high but we liked this number. and compared with other major economies in the world, this is still -- so we justified fourth quarter gdp figure, 6.7. that's a little -- that's beyond expectation because before people saw 6.5 or 6.6. now 6.7 implies our

policy. that's the right strategy. >> we have the ceo here with us aga again, yannick, do you believe china has a lot of things here today? >> people have invested in building factories and i think it will be tough times for now and in the future. when you look at the service industry, i think we still have a good journey ahead of us. >> and it's about not only that pivot, so from industrial to services but also the consumer as well.

you were saying to me about the middle class is how pivotal it is in the growth. >> if you look at china, it's the most perceived history for a country. and we still have only a few portion of people from japanese people that are in the middle class and it's a booming economy. if you look at the future, more and more people will join the middle class in china. we continue to grow in the next decade at a very high rate. >> that's disappointing so far, so many europeans and western companies go into china and spend a lot of money building up a presence. and they don't quite get the bang for their buck. are you disappointed with what you have seen in china so far or pretty happy? >> you have to look at chinese history. if you look back at chinese history, china by far has been the most important power in the world until the beginning of the 19th century. then there have been some tough century and now they are

balancing back super high. so for me, you have to understand that china is very chinese. so if you go there, it is not like any other country. but i think you need to invest time and money, but on the long-term basis it will be a -- >> you said in the anglo saxon, this is the way they operate. what is the thing that's made you understand the chinese way of doing things better than perhaps some others? >> i mean, just look at my industry. social platforms are very important industry. i would say the best social platform in the world is we chat. it's much better than the facebook of the world. so i think -- chinese people are

very good at cooking. they are good at creating things. so i would come very -- >> but that's an important point. the creativity is coming from china as well where a lot of people say, as you said, people accuse them of all kinds of plagiarism. >> we need to understand that. >> we'll come back to that, yannick. we'll take a short break. we are halfway through "street signs." we are down, most stocks are in negative territory. 20% are up but the rest are down as europe and the blue chips announce their numbers. we'll be back.

welcome back to "street signs" here on cnbc.

i'm steve sedgwick and these are your headlines. no deal in doha. crude prices falling after saudi arabia scuffles an agreement to freeze output amid tensions with iran. oil stocks leading the way lower in europe following sharp declines on the nikkei as japanese manufacturers shut their doors after a series of deadly earthquakes. gino rousseff stays in office after many were pushing to impeach the president who now faces the senate. u.s. futures, let's see if they are declining, yes, they are. the same as the rest of the markets. we have been asking the question whether oil leadership has abated somewhat. of course, the oil declines led to the majors and the banks falling aggressively globally. sometimes people stand back and say, hang on a second, lower oil should be good for the broader

economy and higher oil should be bad. so an inverse relationship appears to be resuming the leadership over the last year again. so oil down, s&p down and the nasdaq and dow jones also. the european markets were down a little more than the start of the show, but still moderate declines compared with some of the spreads that were over 1% to the downside. now, consumer goods economy reckitt benckiser says it's on track for 2016. it likes the sales from the first three months of the year. it rose 5%. and centrica lost 1.5% of it its customers in the home market in the first quarter. however, the u.k.'s largest supplier said it's operating further targets. and apple will extend its

smartphone production cuts into the june quarter. the japanese news agency said the prolonged cuts are due to the slow sales of the iphone 6 and 6s. to my guest, yannick bollore, apple shouldn't be struggling with the phone sales. is there something else to be worried about? >> i'm not worried at all about apple. they are doing so well with 30% market share in the full industry. 90% of the value. >> me and you have a nokia, actually. >> very good memory. >> we are differences between china and chinese companies and understanding culture. they have pretty interesting brands as well. >> of course. they are creating very powerful

brands with great phones, also. >> are they investing into the phones internationally? >> yes. they have the opportunity in london investing in marketing. so they are understanding the importance of marketing. when you look at the brands and the value of the brands, it could be billions and billions of dollars. so they aren't quite getting the type of mindset. they are building in equity. >> they are watching in their learning. thank you. anglo has suspended its operations in the los bronces mine in chile. however, the group's processing plants are still partially operating. hong kong's hutchison is planning to block the attempted purchase of o2. they are looking to merge to

o2-three. the commission is expected to obstruct the deal it believes would lead to reduced choice and higher prices for consumers. crude prices trading sharply lower after the output freeze isn't approved because the saudis blocked the deal because iran was not at the table. but they knew iran wouldn't be at the table, didn't they? that's an open question. and russia's oil minister says $40 to $60 a barrel oil is acceptable. they are not closing the doors on the taps either, jeffrey. they are producing more than now than when we were young men in the '80s. >> reporter: absolutely, steve. i think to say that they have gone back to soviet era production levels gives you a

sense of how hard they are working to try and maintain these output levels with equipment in many senses that could do with an infrastructure upgrade. so the russians are very keen to maintain the stream of revenue to assist an economy that is still obviously suffering from sanctions. i think the comments that we've heard so far from the russians suggest that they are being stoic about the outcome of this meeting. clearly, minister novak said the summit came in below expectations. it wasn't the result they were looking for. but they've said they don't think that the russian economy will be significantly affected by the outcome. of course, we also have some remarks from an executive over at gas brom, whether that was the ceo or not, we don't know, bull but ultimately the results of the no deal will be

unpredictable for oil markets, which i suspect just means that we will see a return of some of the volatility that plagued the market in the early part of this year. so if you look at the trade and the trading reaction we've had, a little muted, i would say, given the import of this decision over the weekend. the micex has been flirting with 1% for the session. and the rouble has been 1% to 3% off the dollar. so it's a little bit undecided about the nature of the market trade, steve. >> yeah, jeff, thank you indeed for that. just listen in, yannick, you have an interesting view, i take your points about understanding the culture of china before you want to do business there. and it's the same thing -- mr.

churchill had it right, whatever it was he said, you have to understand the russians. you were saying what a tragedy it is that europe and russia are at a head. >> it's crazy, i was telling the story, it was like two weeks before the ukraine crisis started. i can tell you russia is a great country with a great culture. very large and powerful history. i think there is a problem of communication between western europe and russia. for me, i don't understand why we have the economic sanctions. and when you add this economic sanction to the oil price, very tough on russia today. by affecting the russian economy, it's affecting the western economy. in the end, we all lose. we need to rethink -- >> we can play the blame game over ukraine and have debated in length on this channel. jeff, we are talking about the

problems on the economy and have been speaking to key players. >> yeah, absolutely. the irony is in the course or the rest of the developed west where we are complaining about negative deposit rates or near zero interest rates and failing to stimulate animal spirits, they have 11% benchmark interest rates in russia and 10% inflation. that is not a good combination when it comes to the growth outlook here. julia caught up to the finance minister and asked him where he thought the growth was going for this economy. >> translator: well, it's true, we see that the growth rates of the economy are improving. there was a slowdown of last year to minus 3.7% in 2015. and this year we are expecting just minus not .3%. we expect the restoration of the growth rates at the end of the

current year. and what is important is the structure of the economy is changing. so could tradeable sectors which were depressed during the period of high oil prices and strong rouble rate growing now. today we are in a worse situation and the structural shift will hopefully help us get rid of the so-called dutch disease and stimulate the growth of the sectors and bring added values to our economy, not depending on the economy sector, more dependent on the high-technology sectors. >> when we talk about the economy, we always seem to come back to the impact of sanctions. do you have any hope of a removal at some point in the near future of sanctions? or are you sick of being asked the question? >> translator: to tell you the truth, i get asked this question a lot. we base our projections on the assumption that sanctions are in the same place. i want to say that the economy as a whole has adapted both to

the external economic economies and to the conditions of those good flow restrictions. of course, any sanction is a bad thing, but in any case, one has to continue working, and the economy like i said is adapting. and our task now is to make our budget obligations align with the new economic conditions. >> you know, from an investment perspective, there is still plenty of managers who would like to get back into this market. i think mark mobias was making the case on cnbc recently to make the attraction for this market, but there is still a significant question mark as to the growth trajectory. the world bank thinks russia will grow again next year after these recent periods of weakness. but it's a big ask so far in

2016 to be sure that the growth is going to emerge with the continued pain that the economy suffers under sanctions. of course, now again this renewed uncertainty as to where the energy prices are headed. back to you guys. >> i noticed from the weather, it is 13 degrees, albeit rainy. it is comparatively balmy there. enjoy it, jeffrey. politicians broke into cheershe the decisive 342nd vote was reached. the impeachment policy is now off to the senate. they are looking to replace president rousseff. george osbourne says britain

would be quite poorer if it decides to leave the eu. he said the economy would be 6% smaller by 2030 in the event of a brexit. this looks to examine the cost and benefits of britain's eu membership. speaking to julia at the imf meeting in washington, he warned of the consequences of a brexit. >> i hope the british people remain in and i think they are getting a clear message from around the world that there are great economic benefits to remain in and costs if we leave. if we do leave, then we'll have to deal with the situation. there will be a two-year negotiation around the exit from the eu. and, of course, england will be alert to the financial stability consequences of that. but we are clear leaving would cause an economic shock and a long-term economic cost for the u.k. that's one of the messages they are hearing. >> the ceo of havas is with us,

yannick bollore. i know this is a concern for janet yellin, but in terms of the broader european economy, it would be an event to have negative ramifications? >> can i be fully honest with you? >> please. >> i think in europe it's a major event. it's an opportunity for construction. if you look at the first reaction of what is going on there, they are creating a -- before we were all fighting within each other. i think -- at least i would say europe has brought peace. we don't think about fighting between the french and german,

thanks to this peace we have created this is what we said at the beginning of the session. europe is not to blame for the poor economic situation in europe. we need to change the way we are leading europe. i think this position from the u.k. could be huge for europe to rethink -- less bureaucratic. >> i look as many brits did, the concessions mr. cameron got from europe and we were a little non-plexed by the way europe is changing. >> i think they are important. if we think we would have had more concessions and flexibility as a member of europe and stayed in, i mean, it would be like

you're playing poker with friends and you don't have the same rules. when you are together in the union, you need to play together by the same rules otherwise it is not sustainable. >> you said yourself, we need to change the rules of the game because it is not flexible at the moment. >> you need to change the rules of the game from within. if you stay in europe with different rules, what's going to happen the next day? both the germany, france and italy, all the people are not going to have flexibility. >> is it working for germany, greece and france as well? there is a concern, you said yourself would be the rise of populism, that it may at one stage have created harmony, a lack of wars, thank goodness there's more security in western europe now. but the fact remains that the populism is rising and creating more extreme views. if you want to look back at history, that can do pretty bad things. >> but europe is still a very young institution. >> and young institutions don't have that depth very often to fall back on. >> yeah. you're right, we are looking

about the way to be in such a low interest rate. but that is another story. what is important is that we have a new way of reading europe. today it's not working, obviously. i mean, we are not team building enough. i do believe that we need to use this moment of time or history in the european construction to change the way the rules are done. i mean, for me it would be crazy to stay as it is. people are not happy at all. but i think it could be changed quite rapidly, to be honest. i don't see any positive impact for a country to leave europe. i don't see any positive impact. i see negative impact of being left alone. so i think that for the u.k., it is one thing to be on your own, but i don't want to be so extreme and don't think it would be such a catastrophe in europe. but the worst case scenario for

me is if it stays in europe with different rules. because the next day every country will want to do the same and it will be the end of the eu. so i think we need to be smart enough to be -- it's not a question of months, but years. to create an opposition of a stern environment for the growth of europe. >> brilliant. we'll go to the other side of the pond now, populism of a different kind, the democratic primaries are being held in new york tomorrow. tracie potts is in washington. tray tracie, the candidates are finding a new way to get at each other, whether it is about wages and the nominee processes, they are doing very well keeping the rhetoric going, aren't they? >> reporter: or about how much money they are throwing at this campaign. that's the latest from bernie sanders and he's getting a boost from george clooney who says there is an obscene amount of money being spent in this campaign.

the other thing i find so interesting is that our new poll, the new nbc wall street/mar street/marist poll shows if people like these candidates, it is bernie sanders and john kasich. and they are not winning on their respected side. new york's primary is tomorrow. 95 delegates for republicans. 291 for the democrats. and if bernie sanders can -- he's not favored but if he can pull this off, he could certainly win a good chunk of delegates to remain competitive with hillary clinton. >> tracie potts, thank you very this. we had the argument about the wasted money spent on campaigns and somebody said, what do you mean a waste? it goes to the campaigners and the advertising companies and back into the economy. so there is an argument -- yannick, do you have a few view on this? >> what is interesting in the u.s. with the election, the amount of money spending.

i mean, it's like communicating for a brand. at the end of the day what is funny is that the candidate with the most money is winning the most attraction. >> most of the brands will fail. >> they change identity. >> thank you. there's the pitch. we'll take a short break. thank you, tracie. we'll be back after the break on "street signs." thank yo yo ordering chinese food is a very predictable experience. i order b14. i get b14. no surprises. buying business internet, on the other hand, can be a roller coaster white knuckle thrill ride. you're promised one speed. but do you consistently get it? you do with comcast business. it's reliable. just like kung pao fish. thank you, ping. reliably fast internet starts at $59.95 a month. comcast business. built for business.

with results due out on thursday, yannick bollore can tell me, how is the advertising business? you have all these amazing opportunities in the digital world but the challenges as well. >> of course. the global industry is growing between 3% and 5% a year for the last five or six years.

i mean, it's the industry that presents in terms of media has spent 600 trillions usd. so a lot of people are attracted to that space, as you can imagine. and i would say that the two main images of growth, first globalization creating a wide array of new customers. and the other one is the digitalization of the economy. where it creates new opportunities for brands to address the consumer through the social platforms and through google. it's creating a new way to distribute the ecommerce now. it's completely disrupting the distribution model. for people like us, it's a good opportunity. >> it's a lot of ways to spend on the digital issue and how do you avoid the blind alleys so to speak? >> we used to say, advertising

is wasted but the only problem is thanks to the digital, we know to do economic modernization of the impact of advertising on your sales. so i would say today thanks to all the big data opportunities, we can be much more efficient in the way we do the media spending. >> we'll leave it there. i can't believe the time has run out but nice to see you today. good luck with the results on saturday. yannick bollore, ceo of havas. that's it for "street signs. "the team will be up next on "worldwide exchange."

good morning. oil prices plunging after producers fail to agree on a freeze. and new this morning, brazil's impeachlment vote in congress moving one step closer to remove iing rousseff from office. and we are looking at the u.s. political primaries. it is monday, april 18, 2016. "worldwide exchange" begins right now. good morning. welcome to "worldwide exchange" on cnbc. i'm