Skip to main content

tv   Street Signs  CNBC  September 12, 2017 4:00am-5:00am EDT

4:00 am
welcome, everybody, to "street signs. european markets open higher taking their cue from asia and the u.s. as investors breath a sigh of relief over the weakenening of hurricane irma. shares in retrosink on news that two key shareholders have sold out of their stakes in the uk house builder and apple shares close up almost 2% as investors cheer the launch details meet in the press
4:01 am
ahead of the biggest consumer product technology event of the year.. electric is the buzz word at the motor show, but a debate rages on across german cities. >> we have have clear vatgy because our objective is that every car can enter into the center of a city and we would find solutions with the government and the is regulator to do something very good for our customers. >> welcome, everybody. let's take a look at these markets and see what they are doing. we inherited a strong lead from asia over there. in asia. damages from hurricane irma appear to be relatively lower than initially forecast, so that's helped sentiment.
4:02 am
north korea didn't follow through with a missile test or a missile launch over the course of the weekend and broadly we are seeing the u.s. dollar consolidating, as well the ftse 100 is up by .2% of and modest gains for the cac 40 and the mib. financial services and banks are up today leading the the game as travel and leisure, household goods under water, but not to the a great extent the world's automakersare in frankfurt grappling with tough
4:03 am
issues ahead had including autonomy, self-driving cars and the automakers are haven't had pretty reasonable day. we are looking at gains here with the exception of chrysler which is down by about .5% throughout the morning, we've been asking whether diesel has a future in the auto industry and here is what they have to say. >> well, the diesel issue is a dynamic issue for well known reasons. but the discussion we're seeing now is unjustified >> we will have clear strategy because our objective is every car can enter into the center of the city and we will find a way to do something very good for
4:04 am
our customers. >> yes, diesel will play a par in it and yes, diesel is the in focus at the moment and i think diesel will have a future in this technology, as well >> consumers are are concerned b about what's coming next and a little confused by the message they see from regulators and the media. but often them information they need to help understand the facts behind the different power train and vehicle options there are and give them a choice of vehicle types and power trains to meet the use that they've got. >> and annette joins us now from the frankfurt motor show it's interesting, the diesel models are on display, they are in evidence here at this show. so despite the candle. so talk us through the good, the bad and the ugly of this show. >> actually, it's the perfect storm for the car industry,
4:05 am
isn't it diesel makes up a huge figure of their sales volume on average. the carbon dioxide emissions are lower than with petrol with the diesel scandal, they are quite adamant. they have to try to convince policymakers they are facing bans all over the world in major cities because mayors across the world are concerned about air qualities in big metropolitan areas. but a lot of carmakers, of course, have been criticized for being behind the cousin, the
4:06 am
likes of audi, volkswagen, bmw, you name it. all of them were criticized for being lame when it comes to electrification, when it comes to embracing the future of the car industry and we caught up yesterday with the ceo of audi, one of the major luxurious car companies belonging with the volkswagen holding and i asked him what he thinks, how well prepared audi is for the future. take a listen. >> the german car industry has invested in the last few years and months in electric technology now step by step coming up with really good electric cars, audi start, a pure electric car next year with a range of 500 kilometers it is a nice car, very
4:07 am
emotional, good range, and i would say this is a good starting point and i would see at least one additional car year on year will come to the market. so our expectation is until 2025, 35% of our cars will be pure electric and, of course, the model range will be greater than ever. >> how are you going to talkel the problem of charging stations across the country, across europe, across the world because for now, it seems that this is still a bottleneck had >> yeah, it is a small bottleneck today we are looking for high charging which means you can refill at least 8% of the range. there is a big initiative now in america with electrify america for the volkswagen group here there is a great effort done by a consortium of efforts because we believe a good infrastructure is a must
4:08 am
in china, of course, the government is pushing very strongly. so i would say in the next one or two years, the level of infrastructure is well prepared. >> okay. let us move out a little bit and look at the numbers. your margins are still lacking behind compared to the likes of daimler. are you planning on cutting more costs? what are you planning on doing >> i would say the first half of year was not so bad. and we had an operating margin of between 8% and 9% of course we are controlling costs better than ever we are looking for additional performance and with the investment of the last one or two years, we will see 2018, '19, 2020, an upcoming portfolio of products where we think we can really, really come back >> so as everybody of these
4:09 am
luxurious carmakers are trying to electrify their fleet, there is increased competition for customers. there has been a lack of confidence from customers in the industry and i think above all because of the diesel scandal and kind of nobody really knows how the future will going to be looked like. but, of course, history on the ground, the passwords are electrification, autonomous driving, and the carmakers are presenting cars without steering wheels, without pedals because they are quite proud to have these models already in place. and at the same time, we're talking about more sharing of cars so the shared economy is also a buzz word here on the ground sri. >> and that's a -- you and i know that vp absolutely
4:10 am
personify the diesels emissions scandal. i'm just curious to know what they have to say for themselves at this frankfurt motor show and how far have they gone in terms of brand rehabilitation. >> well, they're not saying a lot about the diesel scandal because obviously that is a legal concern for them they are constrained by what they can say they are saying they hope to get a settlement during the course of the next two months perhaps they are hoping to get clarity when it comes to potential bans of major vehicles in germany and elsewhere. they are admitting there is a lot of insecurity surrounding the engines, the diesel eks, and i think they try to console -- not console. they try to reassure customers that a complete ban of diesel
4:11 am
vehicles is not on the table this is not what they are discussing but they are encouraging all of the customers to swap older diesels with newer diesels and some of them give away a certain premium to customers to change their vehicles so i think it's damage control one could call it. >> thank you very much for that and the michelin man is at least smiling in the background and looking bouncy coming up, annette will be joined by psa group chairman carlos tavares moving on, irma has been downgraded to a tropical depression with winds as high as 35 miles per hour as the storm heads north through the u.s.
4:12 am
southeast. irma still packs heavy rainfall. meanwhile, hurricane jose is stalling east of the bahamas is expected to continue weakening nbc's jay gray reports from already. >> as irma continues its destructive run through the southeast, we're getting a closer look where the storm first made landfall in the u.s >> it blew everything apart. it looks like a nuclear bomb went off irma exploded through the keys, leaving a trail of twisted metal, splittered wood and little else across the barrier islands. big, bad real bad going to take months, maybe a year to get this cleaned up. >> all of florida will be dealing with the effects of the storm for a long time. >> we've got downed power lines all across the state we've got roads impassable still across the state we've got debris all over the state. >> miami, orlando, garden city,
4:13 am
naples and jacksonville. where the water still rising >> this is potentially a week-long event with water and the tides coming and going the. >> it could take longer than a week to restore power for some of thor more than 5 million still without it right now >> it is a magnitude that we just haven't seen before >> irma, overwhelming for so many here, even as the sounds of the wind and rain are replaced by sawes and stacked debris. >> officials in florida say the recovery from irma had will cost tens of billions o a 17% rise in rental revenue which
4:14 am
makes it one of the stoxx 600's biggest rises today. the post storm cleanup will increase demand for its tools. coming up on the show, toshiba is reportedly selling its memory chip unit for about $2 trillion yen. we'll have all the details like from the notify in a few minutes.
4:15 am
whuuuuuat?rtgage offer from the bank today. you never just get one offer. go to lendingtree.com and shop multiple loan offers for free! free? yeah. could save thousands. you should probably buy me dinner. no. go to lendingtree.com for a new home loan or refinance. receive up to five free offers and choose the loan that's right for you. sfoo could lower their monthly bills by over three hundred dollars. go to lendingtree.com right now. do i use a toothpaste that whitens my teeth or... ...one that's good for my teeth?
4:16 am
now i don't have to choose! my dentist told me about new crest whitening therapy. so, i tried it! from crest 3d white comes new whitening therapy. it's our best whitening technology. plus, it has a fortifying formula to protect your enamel. now i get a whiter smile and healthy teeth, all in one. the 3d white collection from crest. healthy, beautiful smiles for life.
4:17 am
. the u.n. security council has agreed to impose new sanctions on north korea.. the the accused sanctions are weaker than those originally proposed by the u.s. >> it was a swift move to the
4:18 am
security cll to say no the regime it was unanimous vote, but it's a rather diluted version than the sanctions washington would have wanted. it does not have an oil embargo, but it does manage to put a cap on the oil supplies to north korea at the current level other items include a ban on north korea's number two export item which is textiles and a ban on north korean labor overseas but what's more interesting at this point is relevant countries' reaction after the vote south korea and japan welcomed the resolution while china and russia said sanctions are not a -- on north korea. back to you. and conversation over the ownership of toshiba's memory chip unit is intense phiing as they increase their offers to the cash-strapped
4:19 am
electronicsmaker makiko has more from the notify. >> toshiba is scheduled to have a board meeting tomorrow and was hoping to officially decide on a buyer by then. the reports said toshiba had decided on western -- for business partners, but toshiba announced nothing has been determined as of yet toshiba had given exclusive negotiating rights seeking voting rights. and as negotiations seem to stall, rival bitter u.s. investment bank bain capital along with a south korean chipmaker sweeten dollars the deal they will provide funds to toshiba memory until it has listed on the stock market as well as providing $4 billion annually for research and development and other investments to help the firm re-establish itself in the market apple, who is toshiba memory's
4:20 am
biggest client has also been dragged in, being asked to come on board for the negotiations. meanwhile, taiwan's hanhai is offering the biggest bid for the memory unit, asking apple for support. so it's becoming increasingly likely for a clear outcome to emerge tomorrow and negotiations are likely to go on at least until the next board meeting scheduled later this month and that's all from the nikkei back to you. >> makiko, thank you very much indeed for that. now, apple shares had their best day in over a month ahead of the biggest consumer technology product event of the year the tech giant will peel back the cover on three new phones including the widely anticipateded iphone x and an event on its campus later today. josh lipton tells us what to expect you can see the main ring-shaped
4:21 am
building right behind me here and the campus really does reflect the vision of steve jobs in fact, this campus was so important to jobs that he personally plans for the council just a few months before he passed away in 2011. >> i think we have a shot at building the best office building in the world. i really do think architecture students will come here to see this i think it's that good >> the event is going to take place at the new steve jobs theater, an auditorium that seats 1,000. we expect to see a new flagship iphone from apple. the features include a display that would show colors much more vibrantly, maybe facial recognition to unlock that
4:22 am
device, improved wireless system and better charging. the expected price, $1,000 can apple respect live up to these lofty expectations we're going to soon find out >> josh lipton there and in this week's trader poll, are you hanging up on the stock, yes, no or maybe you're waiting for the reaction to the larchb. either way, the game of phones continues. head to traderpoll.cnbc.com to have your say and head to cnbc.com to read more about apple's big event we have several stories including an article on how the product type could set the tone for trading today. a look at what wall street's
4:23 am
expectations for the launch are and the take of one widely followed analyst who tells krn the iphonex will be in, quote, severe short supply. now, italian finance minister pierre carlo has met his counterpa part lemaire tweeted he wants to strike a deal with italy by the end of this month. in july, france ordered a temporary nationalization of fdx after italian chip builder agreed to buy a large stake in the company. eye wear marks lexotica and essilor will meet with eu regulators to discuss their
4:24 am
merger previously it was said the merger requires careful vetting. cma's acceptance of the proposals should clear the way for the $2.2 billion merger to go through it will create the largest player in the uk industrial services sectors berlin says it has canceled around 70 flights because pilots have called in sick. this comes as a deadline approaches for bids for the bankrupt airline air berlin piled for bankrupt last month after a shareholder pulled funding following years of losses. germany's pilots unit has not yet commented on the sick calls.
4:25 am
berlin's ryan air has conif firmed its interest in the carriers, but says it won't line up a bid until lufthansa ends its talks. ryan air says it will continue operating as a separate airline. novartis has been accepted for review by the u.s. food and drug administration the drug has already been approved is in europe. coming up on the show ahead of the bank of england's next meeting, we'll have the uk's latest inflation read after the break. join us throughout the day for our coverage of tax reform, markets and north korea with many special guests. your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall.
4:26 am
thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. and i'm the founder of ugmonk. before shipstation it was crazy. it's great when you see a hundred orders come in,
4:27 am
a hundred orders come in, but then you realize i've got a hundred orders i have to ship out. shipstation streamlined that wh the order data, the weights of , everything is seamlessly put into shipstation, so when we print the shipping ll everything's pretty much done. it's so much easier so now, we're ready, bring on t. shipstation. the number one ch of online sellers. go to shipstation.com/tv and get two months free.
4:28 am
4:29 am
welcome back to "street signs. european equities open in the green but fail to match the gains seen in the u.s. and asia. house builders weigh on the stoxx 600. electric is the buzz world at the frankfurt motor show, but the diesel dilemma casts a shadow as ian robertson tells cnbc that the controversial fuel
4:30 am
source is not dead >> yes, diesel will play a part in it. yes, deeszel is in the focus of the moment and yes, diesel will have a future within this technology, as well. apple shares close up almost 2% as investors cheer details leaked to the press ahead of the biggest consumer technology event of the year. okay let's have a look at this data from the uk. clothing, fuel prices helped to push.up inmragz and the cost of factories, raw materials, as cording to the ons sterling hitting a four-week high of 90.65 per euro before that uk inflation broke and
4:31 am
sterling extending august inflation looking quite constructive, those numbers just out. right. let's take a look at the broader fx markets as we noted, sterling, cable is performing strongly and is rising as we speak, up by .6 of a percent. 1.3243 is where we are standing. although the safe havens are unwinding, the dollar is strength bing against the swiss franc. european markets, some risk on but just at the margins. and let's not forget that we continue to monitor the geopolitics which have abated and also hurricane irma and the
4:32 am
destruction that it has caused, clearly human toll, clear human tragedy, but from the perspective of the economic hit, it looks as though it's not going to be as bad as initially forecast and markets priced to get some relief as a result of that in terms of data, we're a bit light on the ground stateside, although we have cpi and retail sales to look forward to this month is going to be important, of course, because the expectations of the balance sheet normalization. all right. close to home, british lawmakers voted in favor of legislation to break ties with the eu in its second riding. mps backed the eu by draw big by 256 votes to 290 the vote is thought to give certainty and clarity ahead of brexit but the bill is likely to face
4:33 am
further tests with members of both parties calling for amendments allen, how well do you think the markets are adjusting to the twist and turns of the brexit process? >> well, i think the markets, like most investors, warren want certainty. they want long-term predictability we don't have that today i think when you look at brexit, the form of brexit is not exactly known for sure and frankly we've seen that in the value of the pound that's had a significant impact on our portfolio from day one been we have a significantlty of our.capital in europe here in the uk that's mott going to change. we view the uk as a long-term very attractive destination for capital. but most long-term investors, such as ourselves, do not like short-term unpredictability. and i think in the context of brexit, we have to take a
4:34 am
long-term view certainly there are aspects of the economic impact of brexit clearly unknown today from that perspective. we will still wait and see what happens. we have committed capital after the vote so we think there is still value in the uk market and clearly this is something we'll be watching for the medium term >> what is your baseline scenario and how long the brexit negotiations could take? i've heard anything from two years to as long as five years or more. >> i don't have any spefk knowledge of how these negotiations are going to be conducted, so i couldn't give you an tempt of that i think we're prepared for this to take some time. as to the new relationship between the uk and europe. that doesn't mean that the uk will not remain an attractive investment destination for certain type of assets, but i think in terms of a long-term perspective on the trajectory of
4:35 am
the uk economy, it will be dependent on the final deal that is struck. give me a sense of how this uncertainty is affecting british business, capital deployment, because yes, the relatively weaker pound has helped the economy, but broadly, surely that's going to take a toll on business sentiment and it must be taking a toll >> i'm probably not the best person to talk to you about business incentive itself, but there's two effects that were immediate. the first one was the pound evaluation so that on day one had had a significant negative pressure on the value of our portfolio in the uk so to give you a perspective, we have north of $60 billion and i'm talking ka fadan dollars in europe generally speaking.
4:36 am
the uk is about a third of that portfolio. so that is the first shock second, whenever you have disruption like this in the market, there is opportunity that comes from the fact that sometimes these moves are exaggerated. both the pound and asset pricing are issues and that is what we are looking for long material. >> let's pivot to this market. you have an evaluation discount between european and u.s. equities so there is clearly more room to run for these markets over here. >> we believe so we have the per expect form with brexit and frankly the rise of populist nationalism in europe
4:37 am
that was creating a lot of uncertainty. i think we certainly feel europe is a much more positive background for an investment standpoint today however, there are still a number of risks that people talk less about today but i think have to factor into market pricing, migrants, generally speaking the whole issue of immigration, social fracture the in some countries, there's political instability had left in europe. just look at spain and catalonia. big, big, big fall in perspective in france for macron i think that could be very good news for the french economy. >> how about risks on the periphery. >> it's been risks for a number of years and frankly we've looked at a number of european banks either through buying assets from them or looking at some of these dislocations it is certainly part of the risk that's why european equities have to be slightly cheaper.
4:38 am
however, as i said earlier, we feel much better about europe today. the political trajectory feels better ironically, brexit is helping to pull europe together and the ru meed influence of france and germany. >> allen, thank you for that and we will return to the conversation later on in the program. british prime minister theresa may has personally asked president trump to intervene in a dispute between boeing and bombardier they're lobbying fort the government to drop the case. theresa may intervened to prevent potential job losses janet yellen had breakfast with u.s. president donald trump's daughter and adviser,
4:39 am
ivanka, in july. that's according to a publicly available schedule the two met just before president trump said yellen was, quote, in the running for another term yellen's current term expires in if he february, though president trump has heavily criticized her in the past. france is bracing for a day of protests and strikes against president macron's labor reforms. about 4,000 strikes have been called macron unveiled a plan to loosen labor regulations last month and the government is set to adopt the measures on september the 22nd clause regeling says he's confident the french president can deliver labor market reform. speaking to cnbc earlier this morning web added the new leadership team is galvanizing the entire euro area >> it's not only growth.
4:40 am
the political uncertainties that existed earlier in the year have to a large extent disappeared. we have some inherit strengths in the euro area, like better economic distribution than in other parts of the world >> let's get back to allen carrier, head of ccpib allen, you awere talking about the weakness of the british pound having an impact on your portfolios how is the stronger euro affecting your assets in europe and how much stronger do you think it will get? >> well, conversely, a stronger euro for us, our reference currency is the canadian dollar. so all things being equal, a stronger euro will inflate the value of european assets, but make it harder to find value in europe we have to deploy millions of
4:41 am
dollars in investment and that's not counting the capital that comes back to us so it cuts both ways from that perspective overall we think that's a positive sign >> and it seems to be that markets are trying to front run what the ecb is going to do from a normalization point of view. do you have a baseline scenario on when the ecb will start tapering off its qe program? is that going to be an early 2018 story, a mid 2018 story and how do you think markets are going to adjust to that? >> i'd be lying to you if i told you we have a crystal ball on that we think it will be in 2018, but exactly when, the we way look at the world being fally diversified asset manager is we can take something beyond quarter in terms of
4:42 am
environments frnkly from a long-term perspective, it doesn't matter to us whether it's first, second or third quarter we don't look at the world that way. >> all right if we can bring it back to the u.s. and september could very well be the month in which the fed starts to undertake balance sheet normalization. again, is that your base case? and what sort of volatility do you think we could see as a result of the global financial market or because it's been so wall telegraphed, do you think it will be more negligible >> i think it's the latter i think the market is fully expecting some move from the fed on that basis. we certainly are expecting it over the next few months and few quarters so we don't think it's going to be a bigger shock.
4:43 am
>> and did that mean that the environment for the dollar is going to remain benign and does that mean em is going to continue outperforming >> if i had to venture a guess, i would say that's the baseline areao we're working with >> pleasure to talk to you there. allen carrier, senior managing director and he of international ccpid. coming up, live back to the frankfurt motor show that's coming up there's a denture adhesive that holds strong until evening.
4:44 am
fixodent plus adhesives. just one application gives you superior hold even at the end of the day fixodent. strong more like natural teeth.
4:45 am
4:46 am
welcome back psa is expected to unveil its sport utility vehicle at this week's motor show.
4:47 am
the moves comes as psa eyes a transition to electric cars with the carmaker reportedly considering constructing electric car components in house. this as psa faces scrutiny from french officials over alleged diesel emissions cheating. annette is at the frankfurt motor show with a very special guest. >> well, thank you very much indeed, i'm joined by the chairman of the psa group carl lows tavares thank you very much for joining us >> my pleasure >> i have to ask you, first of all, about your outlook for the future of the e-market, e-mobility market because you sound not completely convinced that in this is the only way going forward. >> that's a great question you know, what experiencing right now is very simple we see that we are moving from a technology neutral regulation approach to a technology
4:48 am
directed approach from the governments and the administrations. we are very fine with that, very comfortable because we are bringing our in-house technology for electric vehicles and plug-in hybrids. so that's not a problem for the psa group at all but it is important that from a citizenship perspective we need to look at this on a global approach it's also about how are we going to produce clean electricity it is about the carbon footprint of how we are going to manage is batteries, recycle the batteries, what do we do about the rare materials for the battery cells. and not only on the mobility device itself. and i wonder who is taking care of that?
4:49 am
there are some concerns when i read between the lines >> sure. this is, of course, a bigger rick for the automotive industry because we can see that electric vehicles so far much more expensive than the other ones. we can guesstimate at one point the in time if there is scarcity of the raw materials for the battery cells, raw material prices will go up. at the end of the day, subsidy prices will be released because of budget constraints. that may represent for the final consumer either higher prices or for the company's lower margins that will have to be established to protect the future of the company. the that's, of course, a concern and very natural that we have to anticipate on the this to generate more savings and more efficiency from our companies and that is quite okay for us because efficiency is exactly the dna of the psa group
4:50 am
it is based on us being able to successfully turn around with the company. we have final with the trekz, but i think the viewers should not be naive this is not going to be an easy road map we have to embrace the full scope of this clean mobility from one side, from the other side, and we have to generation more saflgs the to compensate for the cost of savings. >> and the allegations that some 2 million cars also go and fulfill the emission target which they should from your group. what are you saying to these allegations? >> first, i would like to thank you for asking the question because it gives me an opportunity to clarify a confusing situation. the the psa products are fully compliant with all the relagzs i can confirm that there are no
4:51 am
defeat devices in our products by the way, there is big confusion why. there was a specific commission that was instructed by the french government to measure the compliance of the products this commission instructed a scientific institute in france to make specific measures of our cars the this scientific institute made the measurements. they are public. you can check them everybody can chemical 24e78 had. ifven institute. the scientific institute contacted that our cars are fully compliant. and then we have confusion because we have from one side an administrative report and from the other side a scientific report and they will not bundle both of them this leak happened and created a
4:52 am
lot of confusion and we filed a criminal action to protect our employees and our company and i would like to assure everybody that our cars are safe, compliant, and enjoyable please enjoy them. >> let's talk about opal, a very traditional german carmaker, but loss making. so how confident are you you can turn around that company and it will be on a viable path going forward? >> well, first i would like to share with you some of the experience when we turned around the psa group. in the psa group, people were the solution and what i am seeing right now is opal, it is exactly the same thing had why? because i can see a lot of talented people, a lot of very well graduated people, a lot of people who are just looking for some freedom of maneuver to build the actions and implement the actions that make their company sustainable because there are recurrent profits.
4:53 am
and it's not the management. the people who are asking us to make opal profitable are the employees because they want to be protected and they are ise. they know that the only protection they can get is from the sustainability of their company that comes from recurrent profits. and that comes from efficiency and efficiency is the dna of psa and i'm very confident looking at the people we have by opal that we can turn around this company and, as you know, the turn around plan is now under construction it will be presented early november okay thank you very much. we are watching out for that thanks a lot sri, with that, i'm sending it back to you it's a full day at the car show in germany in frankfurt. the buzz words are e-mobility, but also efficiency and how to make that all work in the future for the car industry as it's some sort of a perfect storm for them with that, back to you >> a lot of disruption going on.
4:54 am
annette, thank you very much for that as you've been hearing all along, electric cars are one of the major talking points of this year's frankfurt motor show. earlier this morning, annette had the opportunity to speak to the chief competitive officer at renault. here is what he has to say about the evolution of the electric car market >> we have seen last year that the market in europe, market share of stwee row emission cars were getting over 1% it was already a very important small. now what we can see is year over year, it's a 50% increase in what is being asked by our customers for our cars zero emission cars so we can really see that the market now is moving very significantly. so what does it mean for the future which means in 2025, is it going to be 10, 15, or 20 percent we will have in terms of market share? nobody knows but what we know is that it's really getting to grip with a significant increase in zero emission cars.
4:55 am
>> thierry bollore there irma has been downgraded to a tropical depression with winds as high as 35 miles per hour as the storm heads north through the u.s. southeast irma still packs heavy rainfall and it's currently south of atlanta which is home to the world's busiest airport. meanwhile, hurricane jose is stalling east of the bahamas and is expected to continue weakening. let's take a look at sterling which is extending its gain since those inflation numbers came out for the month of august, came in at 2.9%. so an acceleration, in other words. 132.65 or thereabouts is what we are looking at for cable so close to a one-year high and, of course, this will have clear implications for the bank of england which will be meeting later on this week, especially that 2% inflation target patience of which is wearing thin european markets are mix dollars and of course the
4:56 am
strongest sterling seems to be having a knock on effect on the ftse elsewhere, we are seeing modest gains. let's check out u.s. futures we are remember strongish lead from europe and from asia and it looks as though u.s. markets are going to open constructively we have data at the tail end of this week. that's it for today's show i'm sri jeg raja witness stand witness stand "worldwide exchange" is up next have a great day chances are, the last time you got a home loan,
4:57 am
you got robbed. i know-- i got a loan 20 years ago, and i got robbed. that's why i started lendingtree-- the only place you can compare up to 5 real offers side by side, for free. it's like shopping for hotels online, but our average customer can save twenty thousand dollars. at lendingtree, you know you're getting the best deal. so take the power back and come to lendingtree.com, because at lendingtree when banks compete, you win. do i use a toothpaste that whitens my teeth or... ...one that's good for my teeth? now i don't have to choose! my dentist told me about new crest whitening therapy. so, i tried it!
4:58 am
from crest 3d white comes new whitening therapy. it's our best whitening technology. plus, it has a fortifying formula to protect your enamel. now i get a whiter smile and healthy teeth, all in one. the 3d white collection from crest. healthy, beautiful smiles for life. you won't see these folks they have businesses to run. they have passions to pursue. how do they avoid trips to the post office? stamps.com mail letters, ship packages, all the services of the post office right on your computer. get a 4 week trial, plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again.
4:59 am
track your pack. set a curfew, or two. make dinner-time device free. [ music stops ] [ music plays again ] a smarter way to wifi is awesome. introducing xfinity xfi. amazing speed, coverage and control. change the way you wifi. xfinity. the future of awesome.
5:00 am
irma winds down, the storm weakens to a tropical depression as it pushes deeper into georgia. millions remain without power in the southeast. we're live on the ground with the latest pushing higher, global markets rally as relief over irma and north korea add fuel to the record rally we're is he had setting you up for the trading day ahead. and apple's big day. the tech company expected to unveil its latist iphone this afternoon. "worldwide exchange" begins right now. ♪

118 Views

info Stream Only

Uploaded by TV Archive on