welcome to "street signs." i'm karen tso. >> and i'm joumanna bercetche. >> the u.s. moves to block the at&t-time warner deal. >> we have takeoff easyjet shares lift after the budget carrier says it is encouraged by pricing trends adding that its acquisition of air berlin will boost 2019

earnings angela merkel says another election would be better than a minority government. the fdp tells cnbc that the political deadlock is due to the chancellor's unwillingness to compromise. robert mugabe faces impeachment as zimbabwe's political crisis stretches on. the country's ousted vice president hails a new era for wh the area good morning one hour into the trading session. we had a strong session overnight. nikkei up 0.7% another strong session for hang seng led by tencent. things in europe are looking soggy this morning a bit more sea of reds than

yesterday. that points to the soggy open for the euro stocks index, almost down 0.2% this is in contrast to the price reaction we saw in stocks indices yesterday, despite the breakdown of german coalition talks. ftse a lager down 0.1% of course all eyes on the budget tomorrow, and what mr. hammond has to offer there today a couple members do speak at the treasury select committee. dax, soggy day, almost down 0.2% reacting to some of the news we got out of germany on the weekend. let's look at sectors. yesterday every single one of those sectors was in the green today looks like a bit more of a heavy trading day. autos in the lead, up 0.5% insurance up 0.2 one of the down sectors of the day is retail, 0.7 % to the down

side construction material, basic materials struggling telecoms down 0.5% a lot of scrutiny from the news we got stateside about the department of justiceputting a lawsuit against the at&t takeover of time warner. >> angela merkel said she would prefer fresh elections versus leading a minority government but the parties have been urged to return to the negotiating table. the explore talks for forming a next government ended sunday when the discussions were walked out on is the chancellor right when she said fresh elections could be better when you consider the problems with domestic politics, would it be better to go back to

the polls? >> well, i don't really know probably in her thinking, yes. she wants to have a stable government, which also can act on a very reliable basis and a minority government cannot it needs to find a majority for every single issue in parliament and that makes it really very tough and difficult to actually also tackle those questions you've been raising just now so, what she prefers is to confront the voter, even though that's a riskier fare than have a minority government. she probably prefers either to be ousted or to be the next chancellor of germany, but with a stable majority backing her. having said that the way for the election is a difficult one in germany. that's because our constitution

doesn't foresee easily to have a new election that's a lesson learned from the republic back from the last century. bottom line is, where we stand now, is that there are a lot of talks in the background. my other president of germany now has the job to interview and talk to every leader of the parties who might be able to form a coalition, to urge them to have perhaps find a compromise between each other. that's taking place today and tomorrow and another two weeks will be spent talking to each other. of course everybody is a little disturbed from what happened over the weekend that's a first in germany. also the parties who actually were on the negotiation table and who offered a lot of

compromise like the greens, they are not very happy about that. i spoke with one of the leading figures of the greens, constatine fernot and asked him what the lesson learned from the negotiations are and how he experienced those. take a listen. >> it's a serious situation. but we are a stable country. we have a good understanding and common sense, so i would not worry much we have to figure out fast how things should go on. everybody is talking about a new election i think it is a very hard way to get to those new elections our constitution doesn't give much about politics that comes

together and decides for new elections. i think we should talk seriously about other ways >> these talks are on the way, they are talking to all the leaders, today to also to the leader of the green. how confident are you that there will be an agreement because there's been spent so much time in talks since in germany those coalition talks in the past decades always were a sure thing. everyone who talked to each other got along and built a coalition after some time, i think we shouldn't cory much if this is now for the first time not the case, but i -- i believe nowthat everybody is looking at the constitutional side of this situation people should overthink their

standpoint and we should not stop talking and just look at those new elections. if germany is doing new elections, you don't know if the result would be the same again >> so, essentially, also new elections might not yield some sort of an outcome which could then mean we will see a stable government that's also because the social democrats, one of the biggest parties in germany seem to have drawn themselves out of that race because they don't want a grand coalition. if that remains the case, that will be a critical consideration. as i was saying, now talks are starting i'm hearing from the lawmakers inside the bundestag that there is actually some willingness to

move into a grand coalition, but the party leaders themselves, the leadership does not want that so i think we will see a lot of discussion popping up over the course of the next two weeks not necessarily decisions, but probably a lot of noise out of berlin with that, back to ou. >> sounds like there's a number of bridges to cross. thank you very much for the detail there christian shultz has joined us, economist from citi. we heard all the background noise taking place in germany. if we consider out where we started in 2017, there's a fair amount of political risk and investors were staring at the outcomes of markets. germany was seen as the country that wouldn't get much risk. here we are debating whether a minority government is formed, whether they go back to fresh elections, whether there's a deal behind the scenes how significant is there for investors? >> is a big surprise you are right to point out at the beginning of the year, when

doing political outlooks, the german election was one area where people said that will come and pass and nobody will care. if you look at the market reaction, that is still true probably not much that happened. the reason for that is that we're talking about a booming economy growing very, very strongly very low on unemployment the crisis, the refugee crisis, euro crisis seems well in the past now it is not a country that needs big decisions at the moment. not having a government may not be such a bad thing. we've seen other countries in europe doing well without governments for quite some time. eventually the dutch >> this is germany, though >> we had a guest yesterday who said who needs strong leadership when the economy is so strong. i wanted to ask about the elections themselves it seems merkel prefers to hold another round of elections, voters also wanted to go for another round of elections will that yield anything different?

we had some polls on sunday which suggest some losses for the fdp, they blame voters for what happened. voters are disappointed these talks broke up overall, whatever the result is there will still be those two options. both options i don't know how they'll get to there could be personnel changes before or after another election if the fdp changed leadership, if the cdu were to change leadership, which perhaps all of this would be the biggest risk you're right, germany itself probably doesn't need a strong government now, but germany is important for the rest of europe without a german government there's plenty of risk >> what type of german government the election has shown us a lot of concern around the country, around immigration policy.

if you have got eurozone talking about more integration, banking union, common fiscal budget, then you need germany to be in a strong negotiating position with other member countries, one would assume what's the impact across some of these initiatives that macron haschampioning does this all fall by the wayside? >> opinion on germany is divided on whether or not there should be more integration. we know they are quite skeptical. the greens part is quite pro we need somebody who gets to some consensus in the end and negotiates with europe and comes to a deal. merkel was, of course, very good at this. we've been here before in 2015 at the height of the refugee crisis, it looked like a time when merkel would step down or be forced out that would be the biggest risk we now have a credible alternative in europe to lead

the continent forward. i think merkel taking a bit of a back seat now would not be quite as bad as it would have been two years ago or five years, six years ago. >> can i ask you, wearing your uk economist, what this means for the future of brexit negotiations clearly in the past you had mr. macron and mrs. america whole were the overseaers of the negotiation negotiations with mrs. merkel out of the picture for the time being, does this add another headwind to the process of negotiations as we head into this big summit in december >> one thing people have been pointing out is brexit did not feature at all in the election campaign after election in the coalition talks at all brexit is not a big topic in germany. but still it does matter and i think you're right in the background the french and germans may have had an influence on the eu commission strategy if germany takes a bit of a back seat there, it gives more power

to the french. so we would have to look at more what the french interests are and how they unite the rest of europe behind that, and looking at what germany may or may not be doing >> that was christian shultz, economist from citigroup. senior british cabinet ministers reportedly agreed that the government should offer more money to the eu as part of a proposed brexit deal theresa may met with ministers amid reports that the uk was considering doubling its offer to 40 billion euros. the prime ministers also set to meet european council president donald tusk on friday. amsterdam and paris will host two powerful european regulator agencies set to leave the uk after brexit. amsterdam will be home to the european medicines authority and paris will host the european banking authority. both votes were so tight that authorities had to decide the final results by random draw

from a mifish bowl. >> we have had a lot of political issues discussed already, brexit, the uncertain german election, and what happens in germany whether we are facing fresh elections wouldn't that be a conundrum as we have 2018 down for the italians >> and more companying moving out companies moving out of londoncs >> you can e-mail us and you can tweet us directly. coming up on the show, more on the doj's big challenge to the at&t-time warner deal.

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easy said easyjet said the expansion at berlin's airports will cost more, this as the british low coast carrier carrid a record numberof passengers i 2017. and shares in compass are down sharply despite a 5.6% rise in full-year profits the rise was driven by growth in the u.s. and the european business was also strong the forecast for 2018 are positive with growth coming in the second half of the year. and enel backed its final target for the next three years and raised its minimum dividends. they also plan to shift focus to mature markets such as italy and spain as part of a wider push towards digitalization kingfisher posted a slight fall in like for like sales as weakness in the french market continues into the third quarter. the home improvement retailer

saw sales in the uk and ireland rise 1.5%, while falling just over 4 % in france the group remains on check to meet its full-year strategic targets. specialty chemical company johnson matthey reported a 2% decline in first half operating profit this as the firm incurred one-off charges from a restructuring program. earnings per share also fell but the company raise tits interim dividend. nestle is among the reported su suitors for hain celestial hain shares spiked 7% on the report before being halted in trading. and toshiba decided to go forward with a massive share offering which is attracting many activist funds and improving its odds of avoiding a

delisting. makiko utsuda has more toshiba decided to raise 600 billion yen or 5$5.3 billion through a private share placement. the firm's liabilities exceed assets making a public stock offering difficult, so it instead chose to offer shares to foreign institutional investors that include major funds from the u.s., europe, asia and australia. singapore-based efisimo capital management will have a 11% stake. u.s. activist funds such as third point and elliott management are also taking part. on december 5th, 60 or so investors are to make payments and receive their share allocations. activist funds use their voting rights to influence corporate decisionmaking, though raising capital has sharply improved the odds of toshiba avoiding a stock delisting it may mean giving up management freedom toshiba had to take this move

since without its planned semiconductor memory unit sale being completed by the end of march next year, it will face a second straight fiscal year in negative net worth the capital boost will raise the net worth to 8$800 million and help it avoid a delisting. toshiba shares fell % following the news on monday, but bounced back up over 5% today as investors became more hopeful in toshiba's turnaround the memory unit which is about to be sold off generated 90% of toshiba's group operating profit for the six months through september. so, the company will need to present a compelling growth strategy to make up for the void to keep activist investors happy. that's all from the nikkei back to you. >> thank you very much for bringing us the latest the u.s. department of justice is suing at&t to block the takeover of time warner. the doj argues the takeover could raise prices, harm

competition and slow innovation on online video. josh lipton has more. >> reporter: in a legal combination that arms consumers and stifles innovation, that's how the u.s. justice department is describing the proposed merger between at&t and time warner and the doj is suing to block it at&t and time warner announced their $85 billion merger last year the closing has been dragged out by the government's antitrust review earlier this month reports circulated that the government demanded at&t sell turner broadcasting, operator of the cnn news network or directv as condition of approval. a justice department official telling reporters on monday that the merger would raise prices for consumers and block creators of media content from distributing their product without paying more money. time warner owns the cnn news channel, tnt, cartoon network and others and has lucrative

sports broadcasting deals. in a statement on monday at&t's general counsel saying today's doj lawsuit is a radical and inexplicable depart chore from decades of antitrust precedent mergers like this one are routinely approved because they benefit consumers without removing a competitor from the market we see no legitimate for our merger to be treated d differently. so far this year there have been more than 9,000 mergers announced in the u.s. worth an estimated 1$1.2 trillion. within the u.s. media sector there's been 209 deals announced for an estimated 32 billion. at&t's ceo randall stevenson was not impressed. >> when we announced this deal the best legal minds in the country agreed this transaction would be approved since our companies don't even compete

with each other. but here we are. the government has filed a lawsuit, and it stretches the very reach of antitrust law beyond the breaking point. >> it's an extraordinary turn of events we've seen enormous consolidation in this part of the world. this particular deal, i think many participants thought it would go through because the fcc was not looking at it. i spoke to the chairman earlier this year, he didn't have concerns because of the way the infrastructure was managed because it has now cropped up and there's been no negotiations through back channels have left some people wondering does this impact the overall sector down the track? >> we had a guest yesterday and i asked the same question, whether the biggest headwind to the sector is regulatory concerns we're seeing the same thing in the uk the capital markets authority reviewing the fox sky takeover

deal as well again, no guarantees that will go through yes it does seem as though regulators are increasingly looking to get involved in that sector as we continue to see disruption of media companies by technology companies, but also consolidation. >> the dinks this tifference the around is we're talking vertical not horizontal when we talk about vertical, it's a slightly different ball game what's also going to crop up is the use of donald trump's tweets there's a feeling there might be some impacted from trump himself, the way he feels about cnn. he's been negative in his tweets some of this might be used by at&t to say this is influenced by the president the doj official looking at the case was appointed by trump in september. so, the markets are questioning how much political interference is involved here

the other point i would make, too the impact on online channels, we know netflix, amazon and the like bring you competition to an at&t and other players. can they sit back and just rest on their laurels they are forced to go down this path of innovation does the dodj's argument hold up we'll squeeze in a quick break we'll be right back after this , and saw his portfolio drop by double digits. it really scared him out of the markets. his advisor ran the numbers and showed that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor.

signs. i'm joumanna bercetche >> i'm karen so. >> the department of justice sues to block the at&t-time warner acquisition it's a move the ceo says stretches the antitrust law beyond the breaking point. >> i've done a lot of deals in my career, but i've never done one where we disagreed with the department of justice so much on even the most basic of facts easyjet shares lift after the budget carrier says it is

encouraged by pricing trends, adding that its acquisition of air berlin will boost 2019 earnings and one of our top stories, angela merkel says another election would be better than a minority government. the fdp says the political deadlock is due to the chancellor's unwillingness to compromise >> when you ask democrats who we were talking with what did you give us that was taking you away from your program towards our direction, the answer is zero. and robert mugabe faces impeachment as zimbabwe's political crisis stretches on. the country's ousted vice president hails a new era, but says he won't return until his safety is guaranteed the numbers crossing on

public sector net borrowing for the uk the latest is through. we were at 8.0 8 billion pounds veshs s versu5 billion a year ago the number expected was about 7.5 billion in october so -- >> slightly wider than the deficit numbers. all eyes will be on the numbers tomorrow if you look at the tax receipts, the uk is running slightly ahead. that's one thing mr. hammond has on his side. we have been mostly flat since we kicked off trade this morning. you can see we have not traveled a fair distance. where the movement has been is on the telemarket. italy and spain were both holding on to about a quarter of a percent in the initial stages. foreign exchange, a quick look

the u.s. dollar versus the japanese yen, 112.45, pound at 1.3243, and the dollar vers the swiss, 0.9925. goldman sachs is forecasting another year of 4% global growth in 2014. with em strength offsetting the slight slowdown in developed markets. as a result of steady growth and low inflation, goldman says the risk of recession is low, but the risk of market draw downs is high the co-chief markets economist from goldman sachs joins us today. thank you very much for joining us >> thank you for having me >> the goldman sachs piece was making waves over the weekend, particularly the view on the u.s. in the sense that you're calling for four rate hikes out of the fed next year market expectations are closer to two let's start with the u.s where is that strength coming

from >> i think it's rotating more into investment this year. that's new i think that should be positive, accompanied by productivity looking better alongside that we expect some wage pick up and obviously with the tax incentives, there may be more consumption. on the consumer side and on the cap ex side the economy will loo healthier. >> one of your top trades is shorting ten-year treasury yields the target is 3% doesn't it make more sense to short the front end of the yield curve given that very little is priced in in terms of hikes? >> we had a long debate. the pillar of our strategy in rates this year was around a flattening of the curve, pivoting on the five-year point. we get the level wrong, the curve is lower that rotation has occurred next year the fed has the ability to hike from two sides,

pushing up the policy rate but also trying to steer the long end back up through the quantitativive tightening we are more uncertain around the slope of the curve that's why we prefer going for one point ten-year seemed reasonable place to be >> the disconnect is that if rates are going up, tax reform is coming to the united states, why are you calling a soggy dollar and suggesting that market participants view the euro and japanese yen with more appetit appetite >> it's a question we get a lot. there's a precedent for this there's a period in the previous cycle where the fed hiked, growth was occurring overseas, so the deltas in growth were more favorable for emerging markets, and people left the dollar block to go into these places we think that some of this may repeat itself. if we look at the acceleration, you mentioned 4 % growth that's all coming from the emerging market world.

india, brazil, big contributors there. >> you don't worry that 2017 was the year for emerging markets, plenty of central bank stimulus found its way into emerging markets. china was pressing on the accelerator getting the country ready for a major party congress central banks are turning off the taps, political risks are coming up across latin america next year. doesn't 2018 look a bit more challenging for emerging markets? >> i take all those points i would say it's not an advanced economy that's looking from that risk perspective as, you know, as an easy play. valuations are super high. that cannot be said for emerging markets. you have the carry which is positive and then you have a mix of accelerating growth with inflation still by in large falling. in the advanced economies, growth is tapering off and acceleration in the u.s. should

be picking up. and policies are becoming less friendly, at least on the monetary policy side >> let's switch the talk to europe clearly again political considerations in europe surprising out of germany, not out of italy for once. again, one of your top trades for next year is to be long five-year inflation in europe, which is surprising given one the political backdrop, but also the fact that the ecb are beginning to pull away starting the tapering process less accommodation in the system, at a time when inflation is not necessarily alysts expeco be in 1.6 years time >> i think -- i agree with you inflation is low if you look at the forecasts, we have inflation roughly between 1.3 and 1.5 over the next two years. the market is priced in i look at the option market, it gives a

50% chance plus of inflation staying below 1% the next five years. there's a skew at the long end of the curve, you have a flat term structure five-year five-year versus five-year is flat. so little premium. so as the ecb goes about buying less bonds, we think that will steepen the curve and should also inflate the forward inflation term structure >> the market is stewing about high multiples, high valuations on some stocks everyone is asking the question when will the party end. you're saying we won't face recession because of economic conditions, but we could be right for correction you have seen no real evidence of wages rising in 2018, despite all of us watching for pressure coming into wages at some point. it's not materialized.

it's hard to see how that has impact and you also mentioned psychology around the withdrawal of qe. the market psychology is that central bankers know what they're doing. they're so very well versed on exit that it will not cause a ripple >> the two main points in our thoughts about the future is that we are fairly confident we won't have recession next year and that central banks are not going to murder the cycle because they want -- >> strangle the cycle. >> exactly we also recognize evaluations are high to your point about margins, they're narrow, particularly in the u.s. the rest is flattish we wanted to basically be short the premium, the multiples, and long growth. that's where we go to emerging -- that's why we go to emerging markets, that's where we see growth accelerating

for the u.s., it's a mixed picture. we have positive returns, but the risk of draw downs here and there are higher than what we've seen in '17. >> just real quick what are the main risks to your global growth forecast >> i think the -- the systematic risk is that we see a rise in rate volatility. all premium have come down with the declining rate volatility. we should remember that in '17 we had a 50 basis point cumulative negative shock. it's hard to repeat that plus we get this climate change around qe. so if rate volatility goes up, we'll see asset rotation that's risk number one and europe, political risk that will stay with us for a while. good to have something to think about over the holidays. how to position for 2018

thank you very much for joining us >> thank you shares in italy's banca carriage were halted janet yellen will step down from the central bank's board of governors. she said she will leave once successor jay powell is sworn in promising a smooth transition until then along with stanley fischer's recent resignation, this will open up a fourth vacancy on the board. jerome powell's confirmation hearing will be held next tuesday. there's a reported revolt inside the u.s. state department according to reuters, around a dozen officials accused rex tillerson of violating the child soldier's prevention act an internal memo says tillerson breached the law and went

against the department's recommendations. the dissenters document says tillerson's decision undermines america's credibility abroad and highlights ongone tensions between the secretary and department officials russian president vladimir putin will hold talks with his u.s. counterpart, donald trump, over the phone later today according to the kremlin the ongoing situation in syria will be the topic of discussion the russian president just hosted syrian leader bashar al assad in sochi the two leaders agreed to look for a political solution to the syrian conflict. tensions between washington and pyongyang continue as donald trump declares north korea a state sponsor of terrorism this allows the u.s. to impose additional sanctions on the country. kristen welker has the details

>> should have happened a long time ago should have happened years ago. >> reporter: tonight president trump trying to further isolate north korea. the president designating the country a state sponsor of terror which will mean stiffer sanctions. mr. trump citing the death of otto warmbier. and -- >> in addition to threatening the world by nuclear devastation, north korea has repeatedly supported acts of international terrorism including assassinations on foreign soil >> reporter: the move is a reversal of a george w. bush policy which lifted the terror designation to foster diplomatic talks over its nuclear program that effort failed so will this attempt work or is it purely a symbolic move? >> practical effects may be limited, but we hopefully were closing off a few loopholes with this. >> reporter: also front and center at the cabinet meeting, the president pushing for tax reform. >> we're going to give the american people a huge tax cut for christmas. >> reporter: at the same time, the white house expressing a willingness to give up one of

the president's priorities, a controversial provision in the senate bill to repeal the obamacare individual mandate, which could result in millions losing their coverage. >> if leaving that in there makes it less likely that bill passes by christmas, then we'd be okay with it coming down. >> reporter: but with a razor thin majority in the senate, the president could be imperilling the tax bill by waging wars with his fellow republicans on twitter can he afford to fight with members of his own party >> the president's style is the president's style. what will sell the tax plan are the actual merits of the tax plan. ♪ a lot of investors are looking for leadership now that's what the cfo council is about. the threat of cyberattacks is the biggest external risk facing companies around the world the poll of more than 40 top

cfos found respondents also worried about consumer demand and u.s. trade policy. like the others category which came up with amazon they were concerned about and nationalistic tendencies in countries. almost a quarter of the cfos say technology will be the biggest sector for growth in the next six months the executives pointed to growth potential in consumer discretionary and financials >> what about currencies the question was about bitcoin it inspired strong opinions, this as the price for the cryptocurrency has risen sharply over the past year nearly 28% of voters considered bitcoin a fraud. but the same amount claimed the digital currency was a real asset, but just facing a bubble. >> you know what i thought was interesting? 40% of the u.s. cfos that were asked that question didn't have an opinion on bitcoin. >> because they don't understand it perhaps or don't know where

it's going to go >> the federal reserve's anticipated december rise in interest rates did not spark much controversy nearly 84% said they expect rates to raise next month. a few do not think a rise is coming >> this was a change from september, 62.9% thought the fed was done raising rates then. so we have seen this quick change in psychology for investors around central banks >> central banks are very good at telegraphing their next steps now. >> but quickly that's a look at the cfo council. you can go online and see more of the outcomes in the survey. we're going for a quick break. coming up, zimbabwe's ousted vice president speaks joining calls for mugabe to step down. the latest on the political crisis coming your way next.

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rebels or that it was behind the ballistic missile attafiring agt riyadh >> zimbabwe's ousted vice president says he has spoken with robert mugabe and has been invited to come home emerson mnangagwa says he won't return until his safety is guaranteed he has joined the growing voices demanding that mugabe step down. chris, how fast-moving are events on the ground today >> very mafast moving. as we speak there's a zanu-pf caucus going on ahead of a vote which we understand will take part this afternoon. the parliamentary debate begins at 2:00. what will happen is the zanu-pf

party will impose a motion of impeachment against robert mugabe and the mdc, movement for democratic change will second it bearing in mind these two parties have been at each other's throats for the last 20 years or so. this is a big thing forward. what will happen, there's going to be quite a long debate in parliament this afternoon. then there will be a vote. what's needed is 50% of the vote for impeachment plus one vote on top of that. according to my sources there. what will happen, if that is successful, it will be a committee set up to investigate mugabe, to look at his unfitness as leader, look at some of the problems, look at some of the corruption that's going on, and that will be taken away, and then investigated and brought back now, on top of that it's a little bit more complicated than that, that's a process that could take a very long time. it could take hours, they say. speaking a constitutional lawyer, they said that,tor could

take weeks there will be no step down soon. that's the situation >> chris, thank you very much. seems it's not just the politics are complicating the country but also the stock market and investor psych tollgy. let's get to samir shasha from cambria africa the economy has been falling on the events of recent days, but that's seen as market optimism do you want to explain that to us >> equities seem to discard a premium or the difference between being able to access dollars outside the country for importation or payment purposes. and access to currency inside the country. now, that premium was discounted in the stock prices in terms of a higher price for stocks because pension funds, et

cetera, would invest in stocks, because they could not move their money or invest money elsewhere. so, the impression is that there will be better access to foreign currency if the matters get better economically in the country. and therefore that premium is coming out of the stock prices that has been discounted into those prices >> samir, hello this is joumanna bercetche from "street signs." do people have the view that perhaps if the deputy president does come in, then he will shake things up or is it more of the same as it was before? is he going make serious economic change, is that the country needs right now? i think that in general in zimbabwe, everyone who is invested here tends to be an optimist by nature i can count myself in that zimbabwe is an incredible and

incredibly fertile environment for investment, in my opinion. as you can see from the nature of the people and the events that have occurred a peaceful people there's always been a significant level of optimism by people who invest in the country. and the suggestion has been that zimbabwe as a country has been set aside in terms of the level of support and balance of payment support and development support that we received from the rest of the world. it's essentially becoming a pooh r pariah state if that happens, there is likely to be an outlook to bring about

this better agreement with the rest of the world. >> let me ask you about the ability of foreign investors to get their money back there's been concerns about the indiginization, where money is handed over to locals, and you only get some of your money back do you think that's likely to change under the future regime >> it's hard to predict these things a lot of the policies pursued in the past had a political tint to it as opposed to the best economic decisions for the country. i don't -- for example, south africa also has some indiginization processes, but it's pursued differently a better policy can come along not all sectors are subject to

this >> sashgs mir, thank you very mh for that let's take a quick look at u.s. futures. a slightly stronger session. s&p 500 seen opening about 1 point higher dow jones about 10 points higher not a huge session, but still in the green. >> very early in the day still that's all for today's show. i'm karen tso, thank you very much for watching. >> i'm joumanna bercetche. "worldwide exchange" is coming up next. okay, i never thought i'd say this, but i found bladder leak

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a developing story the justice department calling at&t's deal for time warner illegal and harmful to consumers. fighting back, at&t's ceo randall stevenson is not mincing words, responding to the government's lawsuit >> this defies logic, and it is unprecedented. i've done a lot of deals in my career, but i've never done one where we disagreed with the department of justice so much even on the most basic of facts. >> it's tuesday, november 21, 2017, "worldwide exchange"