welcome to street signs. i'm joanna ver sec i sergio man -- leads chrysler and the sister companies reeling as the ceo is replaced due to ill health under performs in a red session in europe. beijing warned washington that threats and intimidation will never work. steve mnuchin says there's a real chance all chinese imports

will be hit with tariffs. turbulent -- shares plummet after the carrier warns of more strikes that will weigh on summer fares. a cautious note for julius bar. the swiss private bank, trade concerns continue. shares in fiat are lower along with ferrari and cnh and tariff exports thatfollows the reshuffle following the -- mark yoin according to fiat is being treated in zurich after suffering complications following shoulder surgery there's no further details on

that >> match yoen i -- we're going to look at the key moments in marchionne's career. >> sergio at the helm of the company for 14 years we have been looking back at the milestones of his career june 2004 he was first appointed ceo of fiat. it was seen as a gamble because he did not have auto industry experience, per se in june 2009, a big marker here. the company taking controlling stakes in chrysler this was as a result of the u.s. bankruptcy reorganization. then it took all the way until january 2014 when he was bit by the remaining -- a deal with the

uaw union. seen as a coup over to october 2014 when fiat chrysler then listed on the new york stock exchange and began the whole exchange of trying to find a merger partner. he never made any secret of the fact that he wanted a partner to cut down on costs. he thought it was key. he continued to make the case, even recently. more shift in the technology in the cars, too, that takes a lot of r&d expense, of course. he wanted a partner to help shoulder that burden in june 2015, gm ceo mary bar a confirmed report that -- at that time she rebuffed the offer saying it was not in gm's interest october of 2015, ferrari listed on the stock exchange as well. as chairman of ferrari, he led the spinoff and all the way to the listing which has been a success, in fact

fast forward to a few weeks ago in early june. in fact, sergio leading the presentation as an ambitious five-year plan to move the company forward. perhaps no surprise, a big focus on the jeep and the other brand which are most profitable by far. this is why the new ceo who is head of the jeep and ram division >> thank you >> we're joined live with the latest details what can you tell us about the new leadership >> reporter: yeah, good morning. live from the iconic headquarter. as we're talking, the top 20 managers of chrysler have convened how to implement the plan you were mentioning from the studio. a very, very ambitious plan. sergio march ki own i explained

on the first of june one of his last public appearances. the goals are very high reaching jeep chrysler wants to get $16 billion profit before interest and taxation by 2022 and comprises 45 billions of investments. this is the main challenge that mike manley has to face to implement and carry out such a plan but the main challenge is the -- one. marchionne was skeptical about -- outspoken against -- in the past three months he changed his ideas and decided to embrace this new technology. by 2021, fiat chrysler models and fleet will be with electric engines. so fiat chrysler is entering a

new market stha they're deciding to challenge the best in class by manufacturing maserati, a car capable of reaching 130 meters per hour -- both on the commercial and industrial side the question is whether fiat chrysler is capable of implementing such a plan with the strength and discipline under sergio marchionne's tenure back to you. >> tank you so much. that is live in turin. >> i want a car that goes that fast in two seconds. sounds like a good challenge to tackle >> they announced five-year plan there were questions about i

wonder, what does that mean for them coming into the roles. >> it certainly has come to the surprise of investors. we're seeing that reaction in the stock price today. i can think back when i was at the last motor show this year. the one previously, people were asking about it then it's been on the mind. sergio flagged that he wanted to step down by april 2019. yes, this has come sooner than expected and rings the question of why didn't they give more guidance on who would take over. a few names in the mix was one was richard palmer he's well-known from the financial side of things he was a way to please investors simply because he was well-known there was not a whole lot of surprise in the announcement of mike manley because of jeep and ram and how important it will be going forward.

it really is all about jeep and ram -- marchionne says the -- >> a big chunk of the revenue has come through the last couple of months. perhaps some speculation on the market side, we may see breakup of the entity or anticipation that parts of the business could be pulled off in the future. that has come up in the past. >> not immediately what to do with fiat cars. that's been not the success story as in past i think with ferrari, you're looking at a situation because sergio marchionne was expected to stay longer

he was to stay until 2021. beyond the timeline for the overall ceo. we spoke in the last hour and they said looking at ferrari stock, there's been a marchionne premium priced in here that's why it may be 3.2% now. >> looking at the revenue and the growth the last few months, a good success has been the growth in the u.s. you would think that they're right in middle of all of this and mr. marchionne was key as somewhat of a facilitator and having discussions with his removal, that creates additional uncertainty. >> a good relationship with president donald trump and meetings they had together, comments that marchionne has made about president trump policies marchionne said the company had a huge benefit from the u.s. tax

reform that took place the benefit that fiat chrysler has, they are a u.s. company, have a huge u.s. presence considering the jeep and ram brand are under the chrysler unit they consider themselves an american brad. you have this u.s. italian car maker. but they may say because there's a great amount of production in the united states, they have a little bit of an advantage make no mistake, they were not in favor of any tariffs. marchionne said very clearly, they don't want to see a hit for tat. he was hoping cooler heads prevail. >> the fact that he's got much less experience in the finance and manufacturing side than his predecessor. how big of an issue is it going to be? >> perhaps it would be the cfo to take over when you look at manly's success story with the jeep and ram

brands and the sales increase, that's what people are honing in on the fact that he has seen the -- jeep has been a strong brand for a long time. on the ram side too, with the trucks, he has been able to turn that around. at the end day, that was the winning factor people will say there are areas to improve not just the one part. and overseas in china, an important suv market >> a lot of challenges ahead thank you very much for bringing us the latest for the all important story. it's not all about autos today let's look at asian markets overnight. starting off with european markets. we had big moves in asia the japanese, don't have it up there. the nikkei was down a lot. may be looking to tweak monetary policy we had a big weekend of

headlines. more tweets out of president trump. overall the picture is pretty negative for europe. all the boards trading in the red. down half a percentage point some of the brexit discussions still heavily weighing in the uk we have someone speaking late. consumer confidence numbers out there and the -- let's look at sectors. you can see the under performing sectors are household goods, travel and leisure we're going to dig into things deeper later in the show technology continues to struggle [ inaudible for the most part, it looks as though most of the sectors are trading heavy. that is the picture for europe this morning we'll get into more.

they fail to reach a -- over the weekend. several disputes pose a risk to the -- >> the world's largest companies step up dialogs to mitigate risk and enhance confidence that's their words however, the european counsel -- underline the differences in the various sides' positions he said the u.s. quote understands something different on the fair and free trade the u.s. tresh treasury secretary doubled down on president trump's warning. he could flat tariffs in the chinese exports to the u.s mnuchin said he, quote, wouldn't minimize the possibility that his government could pursue such a move he explained he'd not engaged in talks while at the g20 meeting

china wants to quote sit down and negotiate meaningful changes. china's foreign ministry warned that threats and intimidation will never work in beijing. meanwhile, the u.s. treasury secretary struck a more conciliatory tone when it came to trade talks with europe he's hopeful the u.s. can make -- this proposal will be brought up -- in washington later this week. they come against a backdrop after trump repeatedly took aim at european car imports. speaking to reporters ahead of that meeting, treasury secretary mnuchin said the white house demands that -- it reciprocal. >> we're looking forward to the discussions. but i think the message was clear, which is people are

trying to make this about the united states and protectionism. that's not the case as all this is about the united states wanting free and fair trade and whether it's renegotiating nafta, an old agreement, or focusing on trade with the e.u. where we have had a significant deficit and they protect many of their markets, or whether it's china where we've talked about the technology issues. we very much support the idea of trade is important for the global economy but it's got to be on fair and reciprocal terms. >> but they called on the u.s. to stop the, quote, law of the jungle speaking from buenos aires aid is -- it won't negotiate with a gun to the head. i'm happy to say joining us down the line to discuss further mark

haefl from ubs thanks for joining us on street signs this morning speaking about specifically trade tensions, trade escalations, so-called trade war, it's very difficult to put a number on how much this is affecting markets. according to your own analysis, do you think trade tensions have -- sufficiently in financial markets and equity markets globally >> we don't think that the, kind of the second order effects has been priced -- last week we took down overweight in equities to reflect that we're kind of risk neutral now we know that trade policy can change with a tweet. but at the same time, certainly there are things like supply chains, disruptions that can occur. we're already seeing from some of our clients, our industry leaders who run businesses that some of the uncertainty is

flowing through in how they allocate capital we want to respond to that. >> should we be talking about the word global recession any time soon? >> i don't think we're headed for a global recession any time soon keep in mind that earnings this quarter, the u.s. is first up and we're looking at 20% growth. i think that's on track. so recession is not on the table. but perhaps a repricing of some of this risk can come as we make it through this earnings season and start to hear how companies address what they're facing in terms of this global trade spat. >> you told us that you've got underweight global equity. how would you add back to your portfolio. >> we're neutral in global equities in overweight that's the right question to

ask. if we don't think the cycle is over we do need to be thinking what would we like to see to add risk back first, i think, is a continuation of strong estimates in terms of profit growth for corporations and some sign that this dispute is going to be resolved hopefully, between maybe the first step the u.s. and its e.u. partners and then some sign that things get better on the china side i'd also caution that many people think that the trump administration wants to wrap this all up before the midterm election i think that you have to question that that's the case. don't expect that all of this will be resolved very quickly. maybe the market needs to price that in a little bit a move in prices here to better

valuations could be a reason that you want to start reinitiate on the equity side. >> sir, president trump also made waves over the last couple of days with his criticism of the feds and the feds hiking cycle. he's critical about the strength of the u.s. dollar how seriously do you take the remarks? do you think they'll have a palpable impact of the trajectory of the feds and also the green backs? >> the least that the federal reserve and other central banks are focused on keeping inflation in check at their target level. it's a cornerstone of investor beliefs in the markets so that's very important i think on the grand scheme of presidents pressuring the federal reserve and the other remarks that president trump has made, i think that at this point that's a relatively minor

concern in our overall asset allocation. >> thanks so much for joining us from ubs where he's the -- >> a bumpy summer. find out why after this break.

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welcome back to street signs. ryan air share, they're trading lower after the airline reported first quarter profit ahead of expectations the airline said fares will be lower than anticipated and the budget carrier saw profit dip to 319 million euros. 20% lower than the same period last year. the executive michael o'leary said warm weather and the threat of cabin crew strikes are -- stephen furlong with a focus on this sector. stephen, thanks for joining us this morning the company maintained its

profit guidance. is that the number we should be looking at >> there's obviously a lot of noise and often is in aviation with the air traffic control strikes and ryan air specifically i think the enduring point is for the business model is that they maintain profitability guidance as you said, 1.25 to 1.35 billion net income for the year that's the key point. >> i have another question for you. some of the things rising in their numbers, one that was interesting. eu 261 that's the compensation clause is ryanair that it's late in paying out where in the past it's struggled to do that? >> yeah. they're in the other cost line it's right it's up significantly. 40%. but just like easy jet, they're paying compensation costs with delays with the strikes and it's one component of their original

guidance where the costs will rise by 6:00 percent really it's to do with the e u-261 costs. also labor costs and maintenance costs rising this is the year where there will be cost increases for ryanair. they will go lower in the year after and following. >> not just labor cost, we have rising oil costs as well it came up in the earnings i just want to ask you, if your view how much of the issues are structural versus one off. in the announcement they've referred to heat wave, world cup, et cetera the reality is if you dig deeper, the costs are going to continue to rise not going to get any less in coming months. what is your assessment of the underperformance this quarter? are there structural issues with ryanair? >> a lot of it is to do for sure with things like the actual

costs, as you say, the costs going up we would say, if you look at the ancillary revenues growing really fast. they were up 60% per passenger this quarter i don't see any reason why structurally the -- don't ultimately go back to where they've been, 20% net margins. the lower profits this year is the -- it's a function of rapidly rising fuel prices which were, as they say, up 430 million this year. very fast cost increases we should be all set in coming years. the cost advantage really doesn't change the growth potential doesn't change the balance sheet strength doesn't change >> we have to leave it there thank you very much for your latest views on ryanair. that was stephen furlong coming up in the show, the

british government admits it's preparing for a no deal brexit the latest after the break stay with us

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welcome back to street signs. i'm willem marks sergio marchionne leaves fiat chrysler and sister companies reeling as the ceo steps down due to ill health it weighs on the ftse, it underperforms in a red session in europe. threats and intimidation will never work after treasury secretary steve mnuchin says there's a real chance all chinese imports will be hit with tariffs. turbulent times for ryanair. share plummet after the project carrier warns a further strike that will weigh on summer fares. julius bar shares shrink after the "baggage" reports lower than expected as trade

concerns continue. yet another company warning about trade concerns willem. weft g20 finance minister, the number one profit that came up the picture is red all of the majors trading down 36 points. about half a percentage point. the main thing to watch there is that broadband and -- political backdrop is what really driving some of the activity also trade not guilty the red as well, underperforming 30 percentage points. we'll talk about that in a few minutes. let's move on and look at curre

currencies the strength of the u.s. dollar, what we see this morning is a bit of weakness. euro dollar trades a tad stronger as well as cable is trading firmer, too. dollar yen, the big story has been bank of japan and some of the signaling that's coming out of the bank of japan sending the yen a little bit stronger. of course, ten-year japanese bond yields are trading sharply higher on the fact that they're trying to make the stimulus more sustainable. as the bank looks to stimulate sustained inflation on the economy. the ten-year yield hit the highest point in six months. when it gets to 10 basis points is when the bank of japan gets involved and buys an unlimited quantity there were reports that they were thinking of modifying their behavior that is having implications on

bond yields everywhere as the market comes to terms with the potential change in behavior it could be a big thing for markets if it does happen. >> close to home in europe, italy's government appears to have resolved a disagreement over two keogh owe they are arcing with their economy minister, giovanni trio. rivera will take on the role of director general at the italian treasury someone who knows about that is lorenzo coe dog know lorenzo, a lot of the disputes over the last few months since this agreement was formed and in government came into being, it seemed to be focused on the economy and italy's finances is this latest spat reported last week in your view a sign of things to come >> well, this is just the

beginning, in a sense, that we've got two appointments and many of -- by the end of august, the government will have to replace the first layer of top secret servants. the first signs are positive because at least we don't have politically motivated appointments people that -- have a reputation in the market. we have to monitor the situation. clearly the situation might be different as we move into the end of august deadline i think the other big issue is on the fiscal side because there are divisions within the government coalition on how to move on and i think the deadline of the 27th of september for the publication of the updated document with policy targets is absolutely key. at the moment, it's still big

uncertainty, what will be the policy of the new government in terms of fiscal adjustment. >> when you look a it from a market perspective, lorenzo, we've seen these knee-jerk reactions to pronouncements disputes over individuals. do you think investors really understand the underlying challenges to italy's economy these days >> you have to separate the near term uncertainty to the long-term challenges the long-term challenges are there, even more dangerous right now because of the turn in the interest rate cycle. because of the global uncertainty and the trade wars and the possibility of another downturn in the economy. so these are very much long-term -- in the near term, it's to deliver over the near term and trying to combine the

promises of the new government with fiscal discipline and strong commitment with the world to the -- this will be the challenge for the government in the near term, meaning over the next couple of months. >> certainly, there is still a little bit of risk premium priced in, the italian bonds, you had that big selloff a couple of months ago but 90 basis points premium. tells you that the market is still a little bit nervous about the plans. but on the flip side, i want to ask you, is there any positive that could come out of this? maybe it's coming at a time when italy does need a fiscal boost and that revising, lowering taxation on labor could be a good thing investing in the infrastructure could provide a fiscal boost that's needed at this point in time on the short-term horizon >> unfortunately, italy cannot afford a fiscal boost because of the high debt to gdp

and certainly, italy can do a lot in order to reshuffle its finances and make room for investment, make room for lower taxes. that would be highly desirable, but has to come along with reduction on the expenditure side i think this is a big challenge and it doesn't fully comply, doesn't fully match with the electorate promises. it's challenging we'll see how it goes. but clearly, italy is still very much a focus for financial markets because, as you mentioned, the spread widening few weeks ago and then it stays relatively high, meaning that once the genie is out of the bottle, it's difficult to bring it back. i think financial markets will need a lot of reassurances in order to reduce the -- push the spread do you know to what it was before the elections.

>> in the next couple of months, it will be crucial lorenzo, thank you very much for joining us he was the chief of macro advisers in the uk, the british public opposes theresa may's brexit plan according to a poll. just 16% of voters think that the prime minister is doing a good job handling the brexit negotiations 34% would prefer boris johnson to be leading the uk through brexit the research found some support for a new uk political party more than a third of voters would back a new right wing party committed to accessing the eu dominick rabb said that they were in an agreement with the eu but he also acknowledged that uk was taking active measures in no deal scenario. >> we're aiming to get the best

deal we can. we've made good progress and i've been out and i'll go out again next week. those negotiations are going and that's what we're planning for any responsible government would have to make sure you've got the planning and the preparations in place in the event of the negotiations not reaching a positive outcome that's what we're doing. >> european bank begin this week ubs will report tomorrow and deutsche bank will post full numbers after a preliminary release. they expect net profit to be ahead of expectations. the results come after a solid quarter for u.s. lenders and trading at the u.s. banks drove profits upwards. julius bar -- a 19% rise in first half net profits that is in line with expectations the swiss private bank attracted 10 billion franks in net new

money. disappointed with the results. the stock is among the worst performers on the stock. europe 600 this morning. market caution has increased amid rising trade tensions and said that the bank is on the lookout for m and a opportunities phillips has seen profit increase compared to last year a core profit of 482 million euros on the back of strong demand for hospital equipment. comparable sales growth for the quarter missed expectations, came in at 4%. tom ender says he would consider a -- of the french play maker set -- speaking to the sunday times, ender says the time has come to seriously look at consolidating efforts as one. speculation over potential mergers that would -- aircraft

firm that competes with the united states. airbus and bae systems were not available for comment. the french i.t. services company has agreed to acquire sin tell for $3.5 billion in an all cash deal including debt access to some of the biggest u.s. financial services companies, including american express and state street bank. the acquisition at $41 a share represents a 5% premium on sin tell's closing price they've turned negative with analysts citing week first half results with an otherwise positive reaction to the acquisition. another delay for the largest ipo. the ceo says the oil giant -- may be -- negotiations that saudi-based corporations only

started last week with saying there still might not be any deal at all. owns a controlling stake of the company. possibly as much as 70%. elsewhere, china tower, the beijing-based telephone tower company -- the state owned firm raised $1.4 billion after it set a price range between 1.26 and 1.58 hong kong dollars in billions, of course not at all in billions it's in specific pricing for the share. i'm sorry. the listing to be one of the largest in years alibaba and others are among the ten investors. all right. lewis hamilton came from 14th

place to take a quote miracle victory in the german grand prix ferrari sebastian vettel crashed. the first major gold champion to win the open at carrnoustie. tiger woods appeared to have a joust in the majors until a bogey at the 11th hole i made a bad joke on twitter yesterday when i said something like trade -- >> he got a pretty solid round tiger had a few too many bogeys on the last round. molinari was solid as a rock meanwhile, he's retired from the national team. racism and disrespect over his turkish roots. perhaps the world cup where germany underperformed, social

media, often -- for a photo. he said that german football president blamed him for the country's lackluster performance in russia taking a swipe at him. he was treated as a german when the team one that's -- if you have any views on the football, don't feel hesitation on get not guilty touch on twitter you can tweet us directly. >> humor is appreciated. >> humor is always appreciated also coming up, iranian president rouhani has a fiery speech over the weekend. the full story is coming up next your brain changes as you get older. but prevagen helps your brain with an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory.

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welcome back to street signs. diplomatic relations between the u.s. and iran deteriorated further after iranian president rouhani gave a fiery speech with the quote mother of all wars

mike pompeo slammed the leadership as more -- president trump also weighed in on twitter. our colleague is in abu dhabi. hadley, president trump did respond with that all caps tweet on twitter then again reminiscent of the types of -- the tone that was coming out at the time of the rocket man in north korea. he changed the tone significantly since then how seriously should we take this tweet >> very good question. at the end of the day, this is yet again another war of words between the u.s. president and someone he considers to be an adversary. president rouhani. you have to ask yourself, what does this actually achieve when iran is threatening the united states, what could they real daye? let's listen in to what the president had to say >> translator: the american -- would not allow the export one drop of oil.

do you think iran is that sfwhaweak we will stand up to you. we are men of resistance the entire iranian nation will resist >> of course, all of this comes amidst this war of words between these two presidents and of course, all against a backdrop where the united states is waging a campaign with unrest at home in iran they tried do that in 1979 it didn't work out so well as washington continues to tighten the screws when it comes to iranian exports of oil. let's listen in to more of president rouhani. >> translator: you cannot mobilize iranian nation against security you're making a mistake. you've shown your opposition against the iranian nation >> now, president trump coming out in a very strongly worded in tweet in all caps saying never, ever threaten the united states or you will see consequences the

likes of which you have never seen before. we are no longer a country that will stand for your demented words of violence and death. be cautious. a lot of questions on what actually this could mean for that relationship. we've seen this before, guys this rhetoric never ends well. at the end of the day, what could iran's military or navy really do? >> hadley, thanks. please don't go anywhere he's going to the -- that trip took him by the uae over the weekend. they rolled out the red carpet the two countries signed deals hadley is still with us live from abu dhabi hadley >> absolutely, willem. 13 mou's and agreements from agriculture to finance they involved e-commerce, solar energy and oil i caught up with the co-ceo of gm listen to what he had to say.

>> the first -- -- re-elected this year. we saw agreements being signed from energy to commerce to technology ours is the only one in financial services we're very happy to have the chance to set up the platform here to serve investment and financing needs of chinese enterprises going overseas. >> the emirates rolling out the red carpet for xi ping we had a kmcommemorative stance it's pretty clear that these initiatives are really working, certainly for the gulf states. it was interesting that he came to abu dhabi and not to saudi arabia guys >> thanks, hadley for that a new nbc journal poll shows 44% of registered voters in the united states strongly disapprove of president donald

trump. while 29% strongly approve when it comes to the u.s. relationship with russia just over half of voters disapprove of the president's handling of issue and 26% agree with what he has done on that front. meanwhile, the fbi made public redacted documents regarding the wiretapping of page. they misled the courts about the approval of that wiretapping but lawmakers from both parties disagree on whether that is the case or not. nbc news tracie potts joins us from washington. tracie, if you dig into the details of this freedom of information act release, do any of them support the president's -- under what he's called false pretenses >> willem, this is interesting both sides here, the president and republicans who support him and democrats are both saying

d see, this proves our point the former trump campaign aide was believed to be working with and recruited by russia. so they were spying on him they went into the secret fisa to get a warrant to do so. there was a question whether the fbi approved or got that warrant under false pretenses, gave all the information. but now we've seen parts of the warrant because as you know it was heavily redacted it tells us that there was more information than just that dossier paid for by democrats that they used to get this warrant on carter page one of the arguments by president's supporters has been they used only information paid for by democrats we now know that is not true one of the other arguments was that the information was not disclosed. we now know that was not the case as well but we do know that that's part

of what they used to get this warrant. so the president tweeting, calling it a scam. saying that this further proves his point and democrats are approving saying the same. interestingly, we're also hearing from the man himself who was spied upon, carter page. he said he was not an agent of a foreign government, not acting on behalf of russia and he denies all claims that he had any sort of connection or relationship with russia while he was working wore the trump campaign >> tracie, thanks for joining us this morning that was tracie potts live in washington, d.c. it's not jurs about the domestic politics. we had various tweets from president trump. let's take a quick look at the foreign exchange markets to see how markets reacted to that. the dollar is on the back -- not anymore. we've dropped in the past half an hour or so. now euro and -- trading weaker

dollar yuan has been -- that is very much the focus in the middle of the trade war discussions. it continues to weaken versus the u.s. dollar and today it's weakend a third of a percentage point. keep a close eye on that as well in europe, earnings came out that the picture is pretty red across the board we had quite a disappointing results out of the ryanair was dragging down the earnings in the uk you can see that broadly speaking everything is trading a little bit softer and all eyes will be on the consumer confidence base coming up short shortly. we have ecb this week. we ended last week on a slightly softer note for the week s&p and dow ended up pretty much flat despite the fact that we did have a strong start to the earnings season. let's not forget this week,

about a third will be reporting. we've got some of the big names reporting as well. going to be a driver for the nasdaq but the picture today looks slightly in the red. opening up about 12 points weaker nasdaq about 22 points weaker as well but then all eyes will be on how the dollar reacts. today is trading weaker on the back of the president's comments that is the setup for markets today. things can change in the next few hours. >> that is it for our show in london i am willem marks. i'm joanna ver set i worldwide exchange is coming up next my digestive system used to make me feel sluggish

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the top five at 5:00 president trump blasting iran warning that country to -- never ever threaten america. ceo stepping down for health reasons. papa john's making a move to protect itself from a takeover by its ousted founder. a huge french company doing a multibillion dollar deal in new york saying it's not worried at all about a trade war. consumer alert listen up. ritz cracker products being recalled over a salmonella threat it is july 2