♪ welcome to "street signs" live from davos, your headlines this morning not buddying up with berlusconi the italian prime minister says he would not consider a coalition from the center right, spearheaded by former leader silvio berlusconi. >> this direct question, the answer is no i think that this coalition will not stay in place. trump's team lands in davos

with a clear message with treasury secretary steve mnuchin and wilbur ross telling delegates that trade war is a thought every single day but confirming that nafta talks are reopening. the president of colombia, juan manuel santos joins other political leaders in warning the u.s. against protectionism >> it will hurt everybody, especially the u.s >> shares for suez plummet as the french utility firm slashes its earnings forecast. we speak to the ceo in davos later today.

♪ we've got a packed show for you, live from davos today we'll be joined by james young in a bit talking about tourism over in china. he's a co-founder and chairman of the largest travel platform over in china. we'll be joined by the ceo of jll, talking about property markets lobally. the ceo of mueller maersk will join us later on as well as president of the european investment bank. we'll wrap up with the ceo of russof tomorrow you'll be joined live tomorrow when you have this panel. >> we have the panel lined up. we have the uk chancellor on the

panel, larry fink will be up there. we have christine lagarde and steve mnuchin who has made a splash as he arrived talking about the prospects of the trump administration going forward all of these people will be on the panel that will happen around 11:00 tomorrow. >> earlier today you had a chance to sit down with the italian prime minister, talking about the elections coming up, also questions about whether, in fact, he would form a coalition with the former leader, silvio berlusconi >> absolutely. i began by asking the prime minister about what the impact would be of a hung parliament. at the moment, as you look at the polls, that looks like the most likely outcome. italy has had a decent period in recent years coming out of the funk of the global financial crisis what would a hung parliament mean for policymaking and stability? let's listen to what he had to say.

>> we hope that this will not be the case, and that the center left that i represent will have a majority in any case, i think we'll be the pillar of a possible coalition in our country we have a certain expertise in flexible, ility in politics in country. what is clear is that, one, the populist anti-eu position will not prevail. and second that italy will keep its stability. you know, we had frequent change in governments in my country, but if you look to fundamentals of our foreign policy, of our economy, we are a very, very stable country >> given there's so much at stake, if the center-right wins,

the coalition of mr. berlusconi, but they need you to form a government, would you be willing to do that >> well, you know, to this direct question the answer is no but the fact is that the center-right coalition in italy is a coalition among very different positions. so we have two parts of this coalition. one is a conservative party. the other one -- the other two are populist anti-eu parties i think that this coalition will not stay in place. if there is a form of coalition

that would leave you in position as prime minister, would you be willing to take on that responsibility >> you know, this is something not for me to decide it's something that due to our electoral load will be decided by electoral results because the elections are always fundamental. you can't discuss a government before elections with this kind of low we have a mostly proportionate low. after the electionwe will need and have a government. our president of the republic will evaluate the situation. >> let me be clear on this i'm not asking you to prejudge the italian election outcome you can't do that. it wouldn't be right for you to do that. but what i do need to ask you,

is there any reason you would be unwilling to serve if the outcome required you to remain in office or, indeed, any coalition invited you to remain in office? is there any reason you would not accept that responsibility >> i'm in good health, but my commitment was 13 months ago to try to bring the country to the end of our legislature, continuing reforms and addressing a couple of serious crisis on migration, on the banking system this was my commitment, and the commitment ends with the elections. after the elections, we will see. >> i read that as a no, i don't rule it out, but we'll wait and

see what the ultimate outcome is >> correct >> i'm positive on the fact that you have good health and you have the stamina to continue leading. >> prime minister gentiloni being frank with me, given the fact we are weeks away from this italian election taking place. couple other issues i pressed on one on migration italy has borne a tremendous murderen taking these boatloads of african migrants from their own countries. mr. gentiloni saying brussels was not as effective as they could have been helping out with that and i talked about the state of the italian economy and the banking system they will probably do 1.6% gdp growth this year, which is not where other countries in the eurozone are but that's not too bad right now. debt stock is an issue npls are an issue, but mr.

gentiloni says the banking crisis in italy is behind us, not ahead of us, we have got there and cleared up the system here he's optimistic that the economy now has momentum to grow >> certainly a wide-ranging interview. for now the focus on that election coming up >> absolutely. he made it clear he wouldn't go into a coalition with the center-right but we will see. italian politics tend to be fluid. >> you did try to press him there. thanks for that. geoff cutmore joining me here on the back of that interview with the italian prime minister president trump will host france's emanuel macron in washington white house officials say trump will hold a state visit for the french president in late april it will be the first state visit of trump's presidency. macron rolled out the red carpet for the president last year in france's bastille day celebrations we will bring you the keynote speech from the french president

coming up later today here it takes center stage in the afternoon. the white house delegation has arrived in davos treasury secretary steve mnuchin kicked off talks with a bang saying a weaker dollar is good for america. he was joined by commerce secretary wilbur ross who said nafta talks were reopening last night gary cohn said trump's message would be that america first does not mean america alone. >> we're going to the world economic forum to share president trump's economic story and to tell the world that america is open for business we want the world to invest in america and to create jobs for hard-working americans president trump's economic agenda has unleashed the u.s. economy and we're growing. despite that message from the white house, there has been an outcry, a collective outcry here at davos over the trump

administration's latest protectionist measures, slapping tariffs on solar imports speaking this morning, ceos and policymakers emphasizing the importance of open trade >> global trade is a great and important mechanism for economic growth so when you start to implement tariffs, you have to be careful about unintended consequences. >> the u.s. economy is very strong that is an excellent sign. it's an excellent sign for companies like ourselves doing business in the u.s., but also for the rest of the world. u.s. will continue it's very resilient, this growth the tax reform which has been long awaited, has been a further positive impact on the economy >> we'll have to see the details are still being worked out some definitions, the consistency with wto, consistency with other

international arrangements it's early days. chinese firms found themselves facing a an increasingly negative sentiment from the u.s. amid rising tariffs, a clamp down in intellectual property and recent moves to block cross-border deals. some firms are staying optimistic about growth opportunities in america including chinese tech giant bay-u. >> i'm concerned about some of the chinese sentiment. it's detrimental to china, detrimental to the u.s. and the rest of the world. i don't have a specific deal blocked by this. but overall i believe that no borders in technology, talent,

or trade there should not be friction cro and we are now joined on set here the ceo of another big tech company of china james yang is co-founder of sea trip, the largest online travel agent in china great to have you on today i want to get your response. a lot of conversations at davos with the chinese companies is just how concerned you are about the rhetoric coming out of washington last year we heard talk. this year we've seen some actions start to take place. yesterday the white house lobbying these tariffs against the imports of solar panels as well as washing machines as somebody who has ambitions in the u.s., how concerned are you about the tensions >> the consumer part of business is more in the outbound part of the business every country will welcome

chinese tourists it's not affecting us much >> 6 million chinese citizens traveled to europe alone last year globally the numbers are soaring. you have a report out tracking the changing habits here what kind of shift have you seen among chinese travelers along with the growing income? >> well, certainly we see, especially in the u.s. and europe, the numbers really are encouraging. the chinese tourists have always been the fastest growing sector of the market. in the past asia has been growing fast, but the last few years more ma chir markture marh u.s. and europe, we've seen fast growth in those markets. >> you last year acquired a startup in california. that raised some questions about perhaps that was your first inroad into the u.s.

what ambitions do you have for the u.s. market? you are prepared to take on the expedias and pricelines? >> yeah. mostly it's outbound travel, because we are doing so well with outbound travel in many markets, not just in u.s., asia, europe, we have best of the supplier and product coverage in those markets. tease are the same products not just visited by chinese but other tourists in the world. for these markets we have a good chance to succeed. for example, we are doing very well in hong kong, korea, japan, and those tourists, they come to china or come to other parts of the world, we have the best products >> this is more of a play to go after the dollars coming out of asia, not necessarily trying to go after american travelers. >> well, if they come to asia, they come to china, we usually have the best products

we certainly have the deepest product coverage and most competitive price. actually the u.s. to china, u.s. to asia demand has been very healthy for ctrip and this part of the market is growing as well >> you released a book recently that argues that the aging demographic in china is bad for innovation you could argue some ceos of tech companies could disagree with that argument what do you mean by that china has made no secret about their ambitions on the tech front, yet the reality is because of the one-child policy you are facing this wave of aging citizens

i think the fact that the age of the demographics, the size of the population, especially young population is critical for innovation the reason china has been so successful in the last decade because it's a huge young cohort of innovators. going forward, china will still enjoy 10, 20 years of healthy demographics those people were born in '80s, they are a huge cohort they will become a prime age of inno vague in tvation in the 30s but because one-child policy was strictly enforced in the '90s, so after 2030, 2040, you have a much smaller cohort. overall demographics of the chinese work force will become much older

by that time china will hit a speed bump >> great to you have on the set today. you can follow much more of our coverage here from davos online across the nbc platforms and our social media platforms we'll continue our coverage live from davos coming up, the ceo of jll, christian ulbrich. "street signs" will be right back any object. any surface.

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welcome back to "street signs. tomorrow theresa may takes the stage here at davos. business leaders will be looking for more clarity on the prime minister on the next steps for brexit we've been asking our guests here about the impact of all the uncertainty. >> we still live with uncertainty. the government has made some good inroads, and by the end of the first quarter in the uk we're hoping that the government will have some more clarity as

to whether there will be an implementation period beyond march of 2019. this will give some comfort to business, but it's not going to be providing legal certainty >> we will continue to operate plants, activities in the uk but if we were to make a strategic investment, we would be cautious. the trade environment is uncertain. >> i totally respect, obviously, the british peoples decision, but i think it is evident, at least for the italian public opinion, that it was not a good choice for uk. the choice has been taken, we respect, we cooperate. >> to talk much more about brexit as well as other factors affecting the global property markets, we are joined by christian ulbrich, ceo of jll.

let's start on brexit. there's no question the uncertainty surrounding the entire process has affected property markets what are you seeing now in terms of where the decisions are being made and how certain people are about the direction the uk will take post-brexit >> i mean, there is still a strong element of uncertainty. we saw that after the vote in 2016, where the market really stalled. in 2017, we saw a bit of a rebound because people had to play catch up with their decisions. the real impact is still to come i would be quite cautious on the outlook for 2018 you can't just leave a market of 500 million consumers without having an impact so real estate is a long-term investment, so people will be cautious to take decisions going forward. in 2017 we saw a lot of money coming from hong kong into the safe haven of london, which was not brexit related that was just the safe haven

element. now as the whole date is coming closer, the impact of brexit will become more into real estate again >> you talk about the money coming in from asia. you're talking about the top 30 cities index london overtook new york as the biggest global city for investments. aside from the money coming in from asia, what other factors are people seeing in putting their money in what is an uncertain market >> london is the global city we have a great governance, very strong legal system. strong transparency in that market so these factors will still be there after a brexit so that has been a big driver in 2017 but going forward, you will see that the economy will have an impact now, the uk on its own will have the opportunity to drive the regulation, the tax system, so there will still be a strong influx of money, but in absolute

terms, they will kind of lose out against other global cities. >> one other thing i thought was interesting in this index, investors doing cities by regional clusters. they're looking at it in a more scientific way what shifts are you seeing on that front how much of that is driven by the workplace? by these companies perhaps moving away from some of the big cities if you are a leader of a city, you have to look at the benchmarks the benchmark of london is not manchester or birmingham t could be singapore, paris or new york. you have to look at your benchmark. you look at your tech clusters, talent plays an important role for cities futures going forward. you have to attract the best talent in. ten years ago the talent would

move to the company, today the company has to move to the talent so companies have to analyze where do they find the best talent that's where they have to move to that's driven by clusters so when looking at the silicon valley, you have companies competing for talent in the silicon valley, but you also see now talent moving into houston so companies have to move to houston. that's a comparison for that type of talent that is a big shift. >> when you look at the moves last year, real estate prices globally, on the back of a tough year here for property funds, especially given that so much money was poured into the equity markets. there's a sense that things could be getting more frothy do you see the pendulum swinging back especially in the u.s. where perhaps commercial real estate is expected to be a big beneficiary of the trump tax reform >> yeah. what we saw last year is that the transaction volume came down 10% to 15% in the u.s.

and there is clearly some type of a correlation with these extremely low interest rates and the influx of money into real estate with the expectation of interest rates rising, you will see investors reflecting on whether they should allocate so much more money into real estate as they did in the past we believe this is a strong macro trend that the influx into real estate will continue to grow, but maybe at a slower pace than we have seen over the last couple of years. with regards to thetax reform, we will have to see how that really plays out i think we should be cautious in drawing conclusions too early. there will be benefits for companies going forward. as we know, many global companies first have to pay an amount of money before they have the benefits so, let's see how that plays out. we have seen over the last couple of days other decisions which are clearly not as favorable for global economy and

i don't think for the u.s. economy. so, i want to wait and see how that is playing out. >> no question we have seen the hit some companies have taken on that writedown thank you very much for joining us today christian ulbrich joining us from jll willem, back to you. we will look at a press conference going on in davos now, it involves michelle timer, the president of brazil, he's giving a special address in davos. one of his predecessors under pressure in brazil we'll bring you highlights from that speech. coming up next, the sore soren skou will join us live

♪ welcome to "street signs." live from davos, here are your headlines.

not buddying up with berlusconi the italian prime minister says he would not consider a coalition from the center right, spearheaded by former leader silvio berlusconi. >> this direct question, the answer is no i think that this coalition will not stay in place. trump's team lands in davos with a clear message with treasury secretary steve mnuchin and wilbur ross telling delegates that trade war is a thought every single day but confirming that nafta talks are reopening. the boss of baidu says he is concerned about anti-china sentiment especially if it means m&a opportunities by chinese companies will be blocked. >> it's important to china and the u.s. and novartis rockets to the top of the stoxx 600 after delivering fourth quarters ahead

of expectations. they also predict strong growth from new drugs in 2018 a quick look at the u.s. futures a few hours ahead of the open all looking positive despite what's happening in europe this morning. the dow jones looking to open up more than 45 points. a very slightly positive open for the s&p 500 and nasdaq expected at this point if we do look at european markets, a lot of red. the ftse 100 down more than a half percent the xetra dax down 0.1%. in italy, the minute down 0.25%. a look at currencies a huge amount of movement there. the u.s. dollar in particular has weakened the euro strengthening against

the dollar the pound strengthening against the dollar as well the dollar weakening against the yen and the swiss franc. this comes after comments from u.s. treasury steve mnuchin in which he said that a weak dollar was helpful for u.s. trade and u.s. exporters so that seems to have an impact on the market there. we're seeing those numbers we'll head over to akiko in davos now. >> we did hear from justin trudeau using his speech here at the world economic forum to emphasize the virtues of international trade. speaking in davos he said canada will sign the transpacific partnership agreement despite the u.s. declining he also hopes to persuade president trump to reconsider his stance on nafta. >> we're working very hard to make sure our neighbor to the south recognizes how good nafta is, and that it's benefited not just our economy, but his economy and the world's economy.

but we're also very much open to -- to more trade deals involving more people as long as it's in the best benefit of all of our citizens. >> and speaking to us on "squawk box" earlier today, the finance minister of australia saying he hopes the u.s. will review its stance when it comes to tpp. >> we hope over time the united states will want to be part of this we would like to think over time the u.s. would want to have a piece of the action. the asia pacific is the part of the world where most of the growth will come for years to come we want to have the access to those markets. >> we are joined here on set by soren skou great to you have on today we were hearing from justin trudeau talking about the tpp being finalized just a few days ago here there's no question when you think about what we've heard from global leaders here so far,

it is in a way a rebuttal to what we heard coming out of the white house, the america first policy we heard modi yesterday saying those against globalization are rearing their heads what is your expectation for president trump and what he will say on friday and what should he say given the audience here? >> first of all, it's important for me to say that over the last 30, 40 years global trade has created enormous economic growth, jobs, income, consumption opportunities, we all get richer when we trade with each other. we clearly also have a situation where some parts of the population surrounding different countries are not feeling that they're part of the journey. we have to make sure everybody is brought along on the globalization journey. >> it's interesting, we heard gary cohn saying america first does not necessarily mean

america alone. perhaps offering a contrasting view here. let me shift gears a bit you have been focused on digitizing the business. last week you announced a venture with ibm for blockchain technology what are you looking at now? >> the global container trade which carries about 65% of all goods transported around the world has done enormous efforts in the last 30 years to reduce the cost of the physical movement of goods. today it costs hardly anything to move consumer goods from one end of the world to the other. but the whole paperwork side of the business is pretty analog. with our joint venture with ibm, we hope to do two things first, we do hope to be able to digitize the paper flow. the physical bill of ladings that we use to this day.

secondly we hope to create a platform that provides much better visibility for the supply chain, for the shippers. >> this comes on the back of the cyberattack last year, looking at how much it cost the company, roughly 3$300 million you talked about the blockchain technology what other ways have you adjusted your operations in light of what happened last year >> so, in terms of the cyberattack, we have done three things we built our defenses higher, quite clearly. secondly, we have completed and revamped our global network so a successful attack will have a much harder time bringing down the whole company. thirdly we have significantly improved our ability to restore in the event of a successful sign cyberattack

we have an agenda of digitizing with customers the joint venture with ibm is a step in that direction we also digitize the ships, cranes, containers, and we hope to create a new business out of the data >> speaking of digitalization, you had an op-ed last week talking about how that experience could shift you likened it to e-commerce help us understand what that vision is 1020 year 10, 20 year line >> well, two, three years down the line we would like to make global container shipping to do as easy for our customers as it is for consumers today to order an airline ticket. we think there's plenty of opportunity to improve the customer experience in container shipping

longer term there are some issues, some problems we have not solved in terms of visibility, in terms of asset productivity which we believe digitalizing or connecting our assets will be able to help us on >> great to have you along today. we'll continue our coverage here live from davos. coming up, we'll speak to verner hoyer willem moving forward ecb supervisory board chair danielle louis says a new rule on bad loans should be finalized on the first quarter of this year but says the application could be delayed. and the ecb and fed are on a course of monetary tigenning this year with investors wondering how many hikes the u.s. central bank will go for in 2018 and whether its european

counterpart will draw a line under the asset purchase program. we caught up with some of europe's top bankers to get their view on the great unwind >> if you look at the cycle, the policy during the cycle, the era started a bit later than other economy economies. i think i think we're looking at ways to get policies in a sustained way it has to be sustainable and continue to sustain the recovery >> the imf forecast, we stand by our forecast i revised the forecast last week for this year from 1.2 to 1.4. i think the imf forecast might have been done before you had this resurgence. the work that we have done in the south african reserve bank showed that in 2016 south africa

had grown about a half percent higher we have seen a renewed optimism. business confidence is returning. and we are now joined on set here with werner hoyer, president of the european investment bank. so the sentiment i get over the last few days here, speaking to our guests at davos, how much optimism there is on the ground, and how uncomfortable that can be given the risks on the horizon. we talked about central bank policy, perhaps the great unwind being a potential that could derail the global economy. what's your sense of where things stand globally and where are we in the cycle? >> i'm happy i'm not responsible for monetary policy. i have to make sure the transmission into the real economy functions, and also works when we have the change in the monetary policy setup. this is a very delicate situation for all colleagues in the central bank systems but on the other hand, i'm happy

to have such a problem we can go back to a normal monetary policy again, normal interest rates in a cautious way. we are doing this at a time when the economy in europe for instance is finally returning to steady growth. so, basically it is a very comfortable situation. >> there's no sense that -- there's no question that the economy has been on a steady path in europe you look globally as well. we are not really seeing synchronized growth here you think people are perhaps overlooking the risks given just how great things look right now? >> this risk always exists just take the big monetary issues, the big stability issues, take the big political picture. if we really put multilateralism at risk, then we have a problem. in particular in europe, but also other parts of the world. so i don't overlook that i don't overlook potential

bubbles. but addressing these issues on the solid basis, which we can do now, after having been inward looking at europe for the last ten years is a good situation. >> let's bring the conversation back to the region here. you last week came out and had strong words for the uk as it relates to brexit, saying that they will suffer without eib money. how comfortable are you with where things stand now and what exactly is the impact? do we have more clarity? >> ithough i could get emotional on brexit, because i'm sad about that decision, we have to live with that and make the best of it, both for the people in the united kingdom and in europe we are so far quite satisfied with the way michel barnier has negotiated on behalf of all eu 27 institutions. we are part of that. from that point of view it's okay but we have to find a way now to think about the future of the

relationship between the united kingdom and europe that is not in the first place an issue for banks though, of course, the financial play of london is heavily affected it's an important question for trade between the united kingdom and the european union the question that -- it's not resolved yet, it's still open for me completely, how do you reconcile the need to keep the british isles together in a customs sphere and at the same time not break ireland out nobody wants a hard border, how can you avoid it all these questions are still open this will make us think a lot. >> the uk has a 6% stake in the bank how painful will that loss be? >> it's very painful we can deal with it because we have a strong support among the 27, but the fact is we're highly leveraged bank by far the biggest multilateral

construction of this kind in the world and a reduction of capital by 6%, and this continued liability still exists, and it will remain to exist that is a blow and it will have an overproportional effect, inverse leveraging in the downsizing from that point of view it's painful. even more i think it's painful because the united kingdom was such a strong partner in the european union it has a sound policy outlook, fantastic projects, and the united kingdom which does not have a strong or big national promotional bank yet is doing a lot with eib when it comes to infrastructure financing to technology and renewable energies so i think the citizens of the uk at the end of the day will recognize that they will miss us and we will miss them. the projects in the united kingdom, the assets are very, very good. >> finally, if we can bring the u.s. into the conversation

we expect president trump's arrival here we heard that america first does not necessarily mean america alone. yet over the last year we have seen a trade friction start to percolate here europe signing there big deal with some other partners aside from the u.s perhaps preempting what could become trade concerns coming between the two regions what exactly you are looking to hear from president trump here at davos? >> i can only hope that president trump will mitigate the concerns that are in europe. we all have them we don't want to depart from multilateralism. we see the united states of america as a natural partner for europe and breaking up that cooperation or bringing frictions into it is terrible just as well observe the situation in nafta and other trade regions of the united states i believe if trump does not stop these concerns, then there will

be a strong call for the europe peeps to fill a vacuum that's being opened now by the united states >> okay. great. we'll leave it on that note. werner hoyer, great to you have on set willem, back to you. just following up from what mr. hoyer said there, we have some news flashes, some headlines out of this press conference from michelle temer he has been talking about protectionism. he said there is no solution, echoing something we heard from a lot of world leaders, going back to xi jinping last year he said in terms of domestic issues in brazil, he will be battling day and night to win passage of social security reform and he hopes to complete the country's reform agenda. coming up, we'll hear from the chief executive of rusal

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signs. shares in suez dipped in early trading to the lowest level in a half decade after a warning about 2017 profits thanks in part to the political uncertainty in catalonia suez says the operating profit for the year will fall by 2% and novartis reported fourth quarter earnings ahead of analyst expectations, net income for the period at the company jumped 6% to 2.$2.82 million, that's ahead of forecasts. sales grew pore than expected. novartis expects core income to rise in the mid to high single digits this year and ahold delhaize has a 1.6 increase in sales over last year and at the upper end of analyst expectations the supermarket chainsaw the sales number lifted by strong growth in the netherlands. i want to bring headlines from the brexit minister here in the

uk, david davis. he said two years for a transition agreement looks about right for the uk he says he's relaxed about getting that transition deal his primary concern is the future trading relationship with the european unit r. yuon during the transition period the uk may not have the ability to start trade talks with non-eu countries. he does believe that is something that's possible. he said the uk will not adopt every piece of the canadian free trade agreement. that's the model proposed by michel barnier, the chief negotiator of the european union. david davis saying existing free trade agreements with the eu provide the floor, not the ceiling for their future planned agreement. akiko, this is some interesting developments in terms of david davis' position on some of this stuff. he says this is not a deal

breaker. we have heard from michel barnier he wants the transition period to go no later than a year and a half after the formal end of british membership in the european union so the idea they'll try to restrict that transition period is something british business don't want to happen something that david davis does not see as likely. >> yeah. what's interesting, and what strikes me about that, there's still perhaps maybe a little clarity on the timeline here, but no real clarity on the specifics of that. that's been weighing on some business leaders we've been speaking with in davos we had a chance to speak with inga biel from lloyds this morning, she said we're not in position here to make certain what the presence for lloyds will be in the uk post-brexit. they have looked at offices in brussels as well, trying to perhaps prepare for what could come but while we are getting some

clarity on the timeline, doesn't seem to be comfort for some business leaders we're speaking to here in terms of what exactly a post-brexit will look like >> interestingly, if you look at the voices we've heard from the pro-brexit camp from within the british cabinet, they have been convinced and certain that they'll be able to start these trade talks with fla s wits wit countries. that's not something that the eu may allow. they say the idea that the uk could go out and start formal trade talks with other countries is not something they're looking to allow that puts dr. liam fox, the international trade secretary, under pressure, because he will be looking to try to get those things kick started. he said he has a bunch of them lined up to go, but it won't be possible to do those if michel barnier's insistence is something that continues >> yeah. a perspective from outside the

region, the uk has said they would like to begin these trade talks, but the reality is countries on the other side are not ready to go there until they understand what the terms are post-brexit. the japanese delegation saying we're not ready to taushg aboal anything until the process ends. so there is a disconnect between what the uk wants and what some countries outside of the uk are looking at now >> a quick look at u.s. futures. we can see a positive open for the dow jones, s&p 500, and the nasdaq that is it for me in london and akiko in davos "worldwide exchange" coming up next

the rally rolls on itse u.s. equity futures pointing to another record high. jay powell will officially succeed janet yellen as fed chair. and we'll tell you what steve mnuchin and wilbur ross are telling reporters on the ground in davos. it's january 24, 2018. "worldwide exchange" begins right now. ♪ goodni