welcome to "street signs." i'm willem marx in london. these are your headlines european stocks shrug off the trade war escalation between the u.s. and china as president trump announces 10% tariffs on 2$200 billion worth of chinese goods. beijing says china cannot accept unilateral actions and accuses the u.s. trump administration of insincerity. orlando shares plummet to the bottom of the stoxx 600 and the german group cuts its

full-year guidance for the second time in two months. and ferrari looks to return to the fast line as the new boss hopes to convince investors with fresh midterm targets at the italian carmaker's first ever capital markets day. as i mentioned, european markets seeming not to react as negatively as we might expect given those tariff announcements from the white house the stoxx 600 currently trading up more than a fifth of a percent. if we look at the individual markets behind some of those numbers, the major indices, the ftse 100 is down more than a tenth of percent the xetra dax performing well. the cac 40 is up two-thirds of a

percent. the ftse mib is up around a third of a percent if we look at the sectors, there are some problems with retail once again down around a fifth of a percent bad numbers out of some of the major european retailers autos, despite that escalation of a trade war once again, autos performing well, up 1.6 11% that's a surprising set of consequences i want to bring updates from the european commission where they say collusion may have denied consumers the opportunity to buy less polluting cars. this despite technology being available. this is in the wake of several years of investigations into companies like volkswagen. on tuesday the european commission opened formal investigations into whether bmw, daimler and volkswagen had

colluded to develop clean emission technology. president trump announced tariffs on 2$200 billion worth o chinese imports. 10% on around 6,000 different products the tariffs will rise to 25% at the start of next year smart watches, bluetooth devices and safety products have been left off this target list after weeks of intense lobbying from companies that stood to lose out from them. the announcement represents a major escalation and tensions with china and could threaten negotiations between the world's two biggest economies. the china post reporting that officials will not travel to beijing for scheduled talks in washington, d.c. and the tariffs are likely to increase costs for american firms and prices for u.s. consumers, but larry kudlow told cnbc that trump's trade actions were helping the u.s.

economy. >> i understand there are disagreements. as is always the case when you undertake reforms. but i don't see any reason to think at the present time the president's trade reforms are going to damage the economy. in fact, i think the president's trade reforms will help the economy. >> eunice yoon joins us now with more from beijing where chinese officials say they have no choice but to retaliate. what form could that retaliation take >> i think tariffs as well as what china described as qualitative measures the problem is china has not defined what those measures are. even when the foreign ministry was asked about it today, they would not comment. the commerce ministry issued a statement moments ago saying the tariffs would create new uncertainty for negotiations so that's just been adding to the expectations here that the trade talks that were being

negotiated for next week and would set the stage for perhaps an even bigger deal are going to be called off. the vice premiere and steven mnuchin were supposed to meet, now that discussion is in jeopardy earlier today it was said the tariffs poisoned the atmosphere for negotiations so a lot of people feeling very pessimistic about what will happen next. so there are reports also today that the vice premiere had convened a meeting to try to strategize what china's next move should be china has already been signaling it plans to hit the u.s. back with tariffs on 5 to 25% on 65 billion worth of goods the concern among the u.s. business community is that china

will impose more qualitative measures so the u.s. business community has seen this as defined as tax audits or possibly greater inspections at the port when it comes to customs so they're worried about that. another idea coming up and getting attention is the idea of export restraints. the former finance minister over the weekend said china could adopt this kind of tactic. that means that chinese companies would be restricted from selling certain components to u.s. manufacturers in the global supply chain. and one of the products that has been left off the u.s. list are rare earths. so china is a major producer of rare earths. these elements are important for all sorts of products including electronics. so there's been some concern among some businesses that rare earths could eventually be

restricted over to you. >> eunice, thank you very much a huge number of moving parts. sticking with china, alibaba's outgoing chairman, jack ma, is speaking at investor day right now. the chinese tech giant announced his departure a week ago he will continue as executive chairman for the next year and retain a lifetime membership in the alibaba partnership. to talk more about those trade tariffs, i'm joined by peter oppenheimer from goldman sachs we have seven weeks until the midterms is this an escalation from president trump that will help the u.s. markets, do you think >> i think the uncertainty about where this goes and the potential impact on growth is not positive for risk assets in general. the focus is on the uncertainty about where this ends and what

the retaliation may be i would say it's not a positive overall in terms of peoples attitude towards risk or the final markets. >> the stocks that have exposure to these measures that may take effect next monday, the 24th, do you see them as struggling over the next few days or will they be able to shrug it off? >> this is thought we would have this 200 billion the question was more about what the size of the tariffs on that amount would be. in a sense what's been announced is less than people were fearing. so in that sense -- >> you think it was priced in? >> it was priced in the question now is what china does to retaliate and how that may escalate overall so far from what has been announced and is about to be implemented, the overall direct effects on gdp are small. but that's really looking at the direct trade effects i think what the market is

focused on is the second round effects, what it does for confidence, sentiment, investment decisions, that's creating more volatility and uncertainty and high risk premium. >> do you worry that you end up with a loop that -- >> yes exactly. that's why the markets are implying more of an impact than most trade models at this stage suggests >> i want to go back to the more direct impact in the united states if the chinese as they vow to do in the last half hour or so retaliate against the latest measures, if trump then does what he said he will do, what he telegraphed he will do and impose tariffs on all other chinese products being shipped to the u.s., you have every single chinese product being sold to american businesses and american consumers facing a tariff of 10%. what does that do to u.s. companies, to investment decisions and growth opportunities? >> first and foremost in effect

it's a tax which increases prices so what it would tend to do is increase inflation, maybe a small amount to begin with but rising inflation at a time when you've had the economy growing nine years with extremely strong momentum at the momentum that could feed into inflation expectations, interest rate expectations and so on so there's that channel. then, of course, also the potential direct effect of restrictions that china may impose as your report suggested on particular components that could have an effect on the supply chain you know, the target may be technology companies which of course have been the main driver of the bull market that we've seen in the u.s. and beyond. there are clearly effects over and above the direct trade impact we have seen so far >> what would your advice be to your colleagues and your firm's clients based on what has been announced over the last 14 hours

or so? >> i think generally we take a cautious view about returns in markets over the next several months not simply because of this issue alone. there are some other factors which we think will dampen returns. we do expect to see a slowdown, though an extension of the global economic cycle but lower profit growth over the course of the next year everywhere valuations are high, not excessive, but we don't expect valuations to continue to drive the markets higher and we have record margins it's difficult to see them going higher from here, particularly if we get an escalation of these trade concerns we're looking at low returns and suggesting that people balance exposure to risk assets with higher weightings in cash. >> so lower profit growth, lower margins, higher volatility in

the months ahead where would you suggest people go looking for opportunities in terms of sectors and in terms of specific economies >> i think first of all, you know, i would make a distinction between ethe medium turn trend and tactical opportunities all financial assets have had a huge boost in the last several years as a result of zero interest rates and quantitative easing, we don't expect that to be repeated. we are looking at low returns, but an overweight in equities counter balanced with an overweight in cash, underweight in bonds and credit. tactically within the equity space there is an opportunity in emerging markets and also for em currencies and credit which are looking relatively cheap, there's a lot of uncertainty i think a lot of that is

reflected in prices. if we get stabilization of these tensions, particularly after the midterm elections we could see a decent rally in em assets. >> thank you very much for coming in. >> thank you >> that's peter open h n open hm the leaders of north korea and south korea have met again to discuss denuclearization on the korean peninsula kim jong-un greeted the south korean president the talks between the two are scheduled to last three days moon's office said president trump asked the south korean leader to be the chief negotiator with kim on behalf of the u.s. last month trump canceled mike

mom pay pompeo's planned trip to pyongyang. and on monday a hearing will be held on brett kavanaugh kavanaugh and the woman who has accused him of assault will get to testify in front of senators. kristen welker has more on this. president trump is standing by judge brett kavanaugh >> judge kavanaugh is one of the finest people that i've ever known. >> reporter: kavanaugh faces an allegation of sexually assaulting a teenage girl more than three decades ago a party he denies the accusation and he said he was never at the party in question. >> he's an outstanding intellect, an outstanding judge. respected by everybody never had even a little blemish on his record. >> reporter: the accuser, 51-year-old christine blasey ford, a professor in california,

tells "the washington post" a 17-year-old kavanaugh was stumbling drunk in the 1980s when he pinned her to the be and groped her while another teenage boy watched. i thought he might inadvertently kill me, ford told "the post." her lawyer said that ford is willing to testify publicly. >> does she consider this an attempted rape >> she does. she clearly considers this an attempted rape. >> reporter: kavanaugh is willing to testify adding this is a completely false allegation i have never done anything like what the accuser describes to her or to anyone because this never happened i had no idea who was making this accusation until she identified herself yesterday. in damage control, kavanaugh spent hours at the white house today. calling lawmakers personally. >> i think this woman whoever she is is mixed up. >> reporter: senator orrin hatch says kavanaugh told him he was never at the party and while no one has corroborated that claim, the alleged third person in the room

mark judge, a kavanaugh classmate, has called the accusations nuts still, he may have undercut that message by writing a 1997 memoir called "wasted tales of a gen x drunk. tonight, several say they won't be satisfied until they hear from kavanaugh and ford in a public hearing. >> if judge kavanaugh has lied about what happened, that would be disqualifying. >> reporter: as for the president, he says he wants a thorough process. >> you have to go through this if it takes a little delay it will take a little delay. >> that was kristen welker reporting there. if you have any views on perhaps chinese tariffs, u.s. trade escalation, please feel free to get in touch with us on twitter, streetsignseurope@cnbc. coming up, we'll be live at the italian headquarters of ferrari for the capital markets day to find out how the company

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welcome back to "street signs. zalando is on track for the worst trading day ever down more than 14% that's after it cut its 2018 guidance for the second time in two months the company said the summer heat wave forced it to delay the start of its winter season and that would lower full-year earnings ocado sales growth grew 11.5% in the third quarter. that sales growth was slightly lower than for the first half of the year, but remained in line with the firm's full-year guidance the supermarket did report double digit growth in the average number of orders per week, but said customers average order size remained flat ferrari shares are trading higher as the company hosts its

first ever capital markets day since the death of sergio marchionne earlier this summer the carmaker will present its hotly anticipated midterm business plan and unveil a new car at the event annette is live in italy with more what can we expect today >> we have to expect or what we want to hear is how they want to achieve their targets for 2022 essentially the former ceo, sergio marchionne was optimistic about the future of ferrari. the target set by him to double core earnings by 2022 and to be literally debt-free or net debt-free by 2021 as a company for ferrari. it is an ambitious target. essentially what happened after his death is that the new ceo

stepped in and called those targets as pirratipirational so ever since the shares have kind of recovered, but still nowhere near the level seen earlier this year. so the big thing today is how to convince the markets, how to convince investors that the new ceo is actually as optimistic as the old one and can achieve those targets for 2022 essentially what we need to hear from him, how they want to build a ferrari suv to attract a wider customer base but at the same time keeping the exclusivity of the brand. then another topic clearly also for ferrari is how to produce hybrid electrified cars in that

special niche segment of the car industry so these three topics will be super important today. of course at the same time we need to kind of get an understanding of how the new ceo, i was saying, louis camilleri understands ferrari, has the same vision for the company going forward. looking at the share price, the shares had a tremendous success story since the ipo back in october of 2015. the ipo price was $52. now they're trading at more than $130 so it's a great story. but can that story go on is that also the future? is that shrrari is the role mod, whether this also holds true for the future, these are all the questions we want to have an

answer from at today's capital markets day. back to you. >> thank you very much the tesla ceo, elon musk, faces a defamation lawsuit from a british cave diver that musk called a pedo guy on twitter he had provided assistance to thai officials in july as they tried to rescue 12 boys in a cave musk who is also the ceo of tesla, has faced mounting criticism for his management of that california company. tesla share prices declined amid ongoing production delays and a botched attempt by musk to take the company private. musk's brother, kimbal, defended his brother's performance yesterday. >> my brother is doing great

he just brought in a new president of operations, but he is focused on deliveries we're trying to get happy customers with model 3s in their hands. that's the total focus hbo's "game of thrones" and amazon's the marvelous mrs. mazel were the big winners last night at the emmy's. stephanie staton has more. >> amazon's streaming series lived up to its name monday night. four emmys including best comedy and best actress, playing a 1950s housewife turned stand-up comedian >> it's about a woman who is finding her voice anew it's happening all over the country now. >> reporter: her co-star scored best supporting actress, and the

creator won for writing and directing. >> my panic room will be so pretty. >> reporter: another first-year comedy, barry, earned best actor and supporting honors for hel y henry winkler. >> if you stay at the table long enough, the chips come to you. >> reclaiming its seat at the table -- >> "game of thrones. >> reporter: which one best drama after a one-year hiatus. the lead actor went to matthew reese, and claire foy won best actress. and candy newton grabbed supporting actress rupaul's drag racen t won best competition for the first time the night also produced some surprises. an on-stage appearance by

96-year-old betty white. >> i'm just going to quit while i'm ahead. >> reporter: and a bigger surprise from glenn weiss. >> because i want to call you my wife he proposed to girlfriend jan spencen as a worldwide tv audience watched stephanie stanton, nbc news, los angeles. that would be quite the venue. cnbc learned that amazon is planning to roll out eight new products powered by its alexa voice assistant. the gadgets include a microwave oven, an amplifier and a subwoofer. the e-commerce giant will release the products before the end of the year. forever more on these products, head to our website, cnbc.com. coming up on this program, the turkish lira weakens further. we'll have all the latest after this break (vo) gopi has built her business with her own two hands.

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welcome to "street signs."y i'm willem marx in london. these are your headlines european stocks shrug off the trade war escalation between the u.s. and china as president trump announces 10% tariffs on $200 billion worth of chinese goods. beijing says china cannot accept unilateral actions and accuses the u.s. trump administration of insincerity. zalando shares plummet t the bottom of the stoxx 600 and the german group cuts its full-year guidance for the second time in two months. and clairiant gets a boost and can now increase its midterm guidance let's check in with the major european indices at this stage.

it's 9:30 here in london, 10:30 on the continent the ftse 100 is still down it's been joined below the flat line by the ftse mib in italy. the xetra dax in germany is still up about a half percent this morning similar story in paris the cac 40 trading half a percent higher let's check in on currencies we can look at the euro at parody with the dollar at this stage. the pound is slightly weaker against the dollar the dollar seemingly stronger against the yen. and again weaker against the swiss franc which seems to be resurgent this morning also worth looking at the u.s. futures ahead of the market open the dow jones being called up almost 40 points the nasdaq and the s&p 500 also looking to open higher still a few hours to go. worth watching that over the hours ahead. looks to be a positive start to the day for trade in america

china's commerce minister reiterated that there are no winners in a trade war after the u.s. announced fresh tariffs on $200 billion worth of chinese import u.s. lng targets may be a prime target for the xi jinping government my colleague, steve sedgwick is in barcelona for us this morning. this will have a big effect on the energy market. >> i thinkyou're right i think we're trying to work out in broader energy markets, in the oil markets and the gas markets who the winners and losers are as we know, the world gas markets are competing with oil markets. they're competing with dirtier hydrocarbons like coal but also competing with renewables. people are wondering how this affects the gas industry in particular why do we care about

the gas industry it's a major part of the growth energy consumption for china the chinese have built up natural gas. a lot of that, a vast amount of it, 45% in the next couple of years will be imported the chinese have not domestically cracked shale they don't have the natural gas production where they need it to be it will be a long way until they get there. imports into china and exports from china are key everybody is looking to export their excess we've been speaking to a host of people including neil chatterley he has basically been talking from a regulatory point of view about what they need to get lng investment up and running and exports from the u.s. up and running. i did ask yesterday about the impact of this burgeoning trade

concern. let's listen in. >> i can tell you here that conversations i've had with energy players from around the world, they want u.s. lng. they're bullish on the possibility of getting u.s. lng. they see not just the economic benefits to their countries but geopolitically as well the u.s. is a stable partner it's a reliable partner. you can have long-term contracts with u.s. companies. every conversation i've had, i'm not seeing those concerns expressed. i'm seeing people bullish about partnering with the u.s. >> isn't this an extraordinary conversation 2015, how much export did the u.s. do of natural gas and lng i know you know the answers. zero zero ten years ago zero 20 years ago. zero for 60 years the export has

no not happened now they are ramping up to key markets. if they are shut out of the market who will benefit? a lot of people want to sell product to the chinese, including qatar, the world's largest lng exporter at the moment i caught up with the man responsible for that, the ceo of qatar petroleum. i said if this u.s. trade situation becomes more of an issue that will benefit you in the middle east, isn't it? listen to his response >> we are looking to invest in the u.s. we have a big terminal there with exxonmobil that we're contemplating taking an investment decision on by sometime early next year i think one of the things that could be damaging to the lng industry in the u.s. is the taxes that could be levied by china or others. i think it needs to be looked at

carefully because i don't think it's to the benefit of the oil and gas industry for having politics and taxation enter into this it could be serving for qatar to have a more competitive circumstance in comparison to the u.s. when some of the countries put taxes on lng, but i don't think it's good for the market to have politics and taxation in an important basic requirement for humanity which is energy. >> what about the money men? what about the people who are trying to translate these political ramifications and ebbs and flows into sustainable business models? lorenzo simanelli is the head of baker hughes, they are trying to entice people to make

investments. of course the u.s. needs more infrastructure domestically, of course the u.s. wants to build more plants and focus on getting those permits through. if people don't have confidence in product and the export ability of the product, where are we >> there's been a lot said in the past about the oversupply of lng, when you look at it now we're starting to talk about there's more demand and we need more supply. when you look at the stats, out to 2030 we think there will be a need for about 500 million tons. during the course of now until 9 e the end of 2020, about 60 million tons of lng will be fie'd. >> yet speaking to the commissioner from ferc, there's a real question about u.s. domestic infrastructure and global infrastructure being fit for purpose.

these are big questions. they are big question. we have to tackle them together. ferc has started to expedite projects, f and giving key date for approvals. when we look at the infrastructure required, we don't want continued flaring and continued waste of the associated gas as well as the fwas ou gas out there. gas is plentiful we're here to provide that capability >> it's going in the absolute wrong direction. i thought we had solved the flaring issue. i thought because the productexe wouldn't see the resumption of large scale flaring. i'm hearing the opposite, we are seeing that. >> we are seeing that because of the aspect of associated gas as you see the increase in oil production, you have more gas being produced we have to put that gas to use in the energy sector and the

transport sector and other areas. we're starting to see that pick up looking at china, india, the nice increase in gas usage and lng. in europe as well, we have to make sure we get the roots into europe for lng and the gas >> that was yesterday speaking about the ramifications in the oil and gas market let me finish off by reiterating there are some key dynamics identified that are happening in the world at the moment in the gas industry one, china is growing. it's taking a vast amount of the additional supply coming on to the market that's a fact. the u.s. is expected to supply a vast amount of that need from the chinese and emerging asian economies because of the enormous amount of product that the u.s. is producing.

if we have a burgeoning trade war, if tariffs are slapped on by both sides, if the u.s. lng cannot get into chinese ports, if that happens we have a problem in the gas industry. the turkish lira has weakened against the dollar and wiped out most of the gains made after the central bank's rate hike last week president erdogan's influence over the country's economic policy remains in focus. he called for an investigation into the fact that members of the main opposition party hold four seats on the board of turkey's largest lender. the turkish central bank is raising the amount required to be paid on loans do you think the actions of the central bank in ankara last week are enough to stop these concerns about the president's involvement in economic policy

>> no, not at all. i think it's a completely different thing. we knew they had to hike rates eventually they did that. that takes some pressure off all the risk of unorthodox policies stays that's been the case since the rate hike. >> when you talk about unorthodox policies, this is what >> more intervention by the government and institutions. the central bank independence remains a theme. this is something we have to watch. >> one of the struggles for businesses in turkey in particular is the fact that so much debt is denominated in foreign currencies if we see the lira deprecate like we have this morning, that's not good news for them should that be a priority for the government to try to support the lira to make turkish corporates feel more able to pay back debt? >> yeah, but that's difficult. if you keep on sending the wrong signals, then your currency will continue to feel the pressure,

you can only artificially prop it up. that will not help you what they are also doing is they have said they will try to take pressure off the banks make it possible for the banks to get rid of some of the bad loans. the pressure is on the weak lira, rising local rates, it's not easy for the banks to manage. >> we heard from steve sedgwick about the trade tariffs announced overnight by the white house. we have seven weeks or so until the midterm elections in the united states. based on these new tariff announcements do you think the trade conflict between the u.s. and china will get better in those seven weeks or worse that's a big prediction. >> it's very difficult it's not easy to see it getting better all the time we get negative surprises. so i think at least until the midterm elections the risk that things get worse is larger than things getting better.

>> given that uncertainty, give than difficulty in making predictions what does that mean for emerging market equities when so much have exposure to global trade >> probably means that there will be continuing pressure on emerging markets and that the dollar will continue to be strong it makes sure this environment we've had for the last few quarter also stay witquar quarters will stay with us >> are you pulling back because of these uncertainties >> we've been reducing emerging market positions in the last few quarters gradually so we have neutral positions in em equities and em bonds within these categories we take exposure to the more defensive markets. we want to be short the vulnerable markets like turkey and be more exposed to the countries that are fundamentally stronger and can deal with these headwinds. >> another exposed market is brazil it looks like market

participants are waiting for a pro business candidate to emerge in the field of presidential candidates i remember being down there in 2014, and neves was the man seen as pro business and for reforms being made do you expect someone will come forward who has the will and wherewithal to enact reforms especially when it comes to pensions that economists say brazil needs so desperately. >> we need a reformist president on the pension reform. the chances that somebody like that will win the election is very slim. there's only one candidate that the market would like in this context, but he's so linked to the current government, people don't like him he's not doing well in polls so the best case scenario for brazil is that we get a president that the market does not like that's why brazilian assets have been under pressure. >> thank you for coming in

appreciate your time rescue teams in the u.s. state of north carolina are still battling to reach hundreds of peoplerising rivers and flooding continue in the wake of hurricane florence 600 people have been rescued in and around wilmington. >> reporter: finally a break from the wind and rain but across the strike zone there's no break from the effects of florence. rescue teams still searching for and saving those trapped by the water. >> floodwaters are rising as rivers crest and they will for days >> reporter: washing out roadways, shutting down highways, turning inland towns into islands with no way in or out. if you could leave, fuel is scarce scars stretch for miles at the few open gas stations. clear skies have allowed crews

to get out and get to work in some of the hardest hit areas. but they've also revealed more of the damage from this storm. the awning and signs from this gas station twisted and torn apart. just like the lives of at least 24 families of those lost in the storm. the latest victim is a little 1-year-old, swept from his mother's arms by the floodwaters. >> he was my first and only child. now he's just gone >> reporter: the pain and unrelenting power of florence, for so many still impossible to escape jay gray, nbc news, wilmington >> horrific stories coming out of the carolinas. coming up, formula one takes a bet in gambling firms in one rey.he biggest deals in its hiormo on that after the break begins to change which may cause trouble with recall. - learning from him is great... when i can keep up!

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welcome back to "street signs. we want to bring you a few corporate and market updates shares in clariant are higher.

clariant and sabic said a swiss chemical firm will hold a majority hold in the business. the cfo of clariant told cnbc earlier this morning the deal will bringing added value to shareholders >> it's clear a more profitable player by creating a new business which combines the best part of our plastic and coating business in terms of additives with a high performance polymer leader coming from sabbic. that's about value for the shareholder. i think sabbic bought the share of the activists out in january, and the shares have been transferred last week. and it gives stability it removes uncertainty for the group and gives stability by having an anchor shareholder, a second one which is represented in the board and allows us to

build a group for the years to come based on growth, innovation and with increased profitability. the u.s. justice department cleared cigna's acquisition of express scripts. the two companies say the merger will allow them to reduce costs by coordinating pharmacy and medical benefits. and nestle is selling its gerber business for 1$1.5 billion. the swiss firm is trying to sell underperforming businesses and launch new products to combat lower sales. the deal will allow nestle to focus on its core food and beverage business. and 21st century fox extended its 14 pounds per share offer for sky until the 6th of october. this is the latest twist in the bidding war for the british broadcaster. last week comcast also extended its deadline to acquire sky

until the same day if neither of the u.s. media giants drop out the companies will head into a blind action overseen by uk regulators, not a very common occurrence formula one has announced that the sport will have ties to gambling sites this is pretty new, isn't it >> this is the latest move from liberty media and the latest move to engage with a younger audience, shall we say very much familiar to other sports, betting in play with football, with rugby, with tennis, all sorts of sports have in-play action but not necessarily formula one. its something that bernie

eccelson said would tarnish the sport. but a deal this morning has been announced with the interregional sports group, isg, and they are going to be leveraging this deal the managing director of formula one said that data and sponsorship partners like this are common practice across all premium sports and this is the latest step in our mission to make formula one the world's leading sports entertainment experience they think they may be able to capitalize with this because of more eyeballs on it. they will have regionalized advertising boards at formula one races, grand prix circuits on-screen graphics we all know well from historically that formula one

has had ties to cigarette brands, alcohol brands, now this moved away from that, but it's moving into a 21st century version of those previous deals. >> you talk about global premium sports events. champions league action tonight. let me hear your latest. what can we expect >> tonight a lot of attention, particularly on anfield. last season liverpool were in pot three, they were going to be a dangerous opposition for anybody that they were to face they have come out and they will play their first game at home against one of the richest clubs in the world, paris saint-germain. neymar, mbappe, cavani, a formidable attack. on the other side you have salah, mane and apparently the fit again roberto firmino. psg were able to rest neymar and

mbappe for their match it will be an incredibly exciting game. it could be attack against attack given the fact that both have quite mean defenses and 100% records in their domestic campaigns so far, someone has always got to go >> we'll leave it there. thank you very much. am dam reid o adam reed our sports reporter. all three indices in the united states looking to open higher that is it for today's show. i'm willem marx in london. "worldwide exchange" is coming up next.

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. it's 5:00 a.m., here is your five at 5:00 president trump slapping china with a new round of tough tariffs. klein pr china promising to fight back. and the trade war taking center stage on wall street this tuesday. a full market rundown is coming your way. the death toll continuing to rise in the wake of hurricane florence we're live on the ground with the latest there amazon doubling down its