the biggest decision of their lives. deal or no deal? it's -- there is no words to describe what "deal or no deal" is. ♪ welcome to "street signs." i'm willem marks and these are your headlines this monday morning. the critics get closer the british newspaper suggests even more conservatives mps have submitted letters of no confidence in prime minister theresa may as she begins a crucial day of brexit. >> these next seven days are going to be critical they are about the future of this country it's about people's jobs, it's about their livelihoods. >> the a pac future summit fails

to deliver a declaration members are split over trade. >> we have great respect for president xi and great respect for china, but in the president's words, china's taken advantage of the united states for many, many years and those days are over. >> and the right call. shares in telecom italia rally on the news that there will be a new ceo. just to bring you some market developments over the last half an hour or so, shares in renault have hit the newest low after they say carlos ghosn will be arrested there's been a potential

violation of the financial exchange act we await comment on the report let's check in on the european markets broadly. it's been a pretty strong start to the day they're trading up more than 3/5 of 1%. we look at the major indices you can see all four of them are trading higher the ftse 100 in london up .4 of 1% in germany, the xetra dax is up 1% and in italy the ftse mib is up 1.2% let's check in on the individual sectors. you can see technology, construction material and autos all fairing relatively well. just real estate down .1 of 1% in terms of brexit, one of the big stories in the u.k., the

campaign to oust prime minister u.k. has failed to gather enough votes to trigger a confidence vote in her leadership may said yesterday a leadership contest would serve as a distraction. meanwhile, the 21-month transition period that will follow brittain's formal departure from the eu could be extended further according to the "financial times." michelle barnier said it could extend longer and could potentially continue until the end of 2022. the fte said barnier had floated this yesterday my colleague joins me from brussels where there's a flurry of brexit-related meetings going on sylvia, what are your ministers saying this morning? is there any chance talks could be reopened as some british

politicians have suggested >> reporter: well, willem, the mood here in brussels is that work is done when it comes to the exit agreement and that there's no need to reopen negotiations we caught up alesh malahi, the secretary of state for european affairs, and he told me he doesn't want to reopen negotiations and the summit here on sunday will go ahead. >> we hope we will not have to reopen the negotiations. so we hope it will not be open excessive excessively. >> reporter: what would you like to see in the political declaration. >> what we want and we made it clear that we want the most possible closest relationship for the rights and obligations for the british. for the czech republic specifically what is important for us is so that we will not

have disruption of our trade relationship after 2020. >> so the priority for czech republic is that the political european affairs ministers are discussing is that there's no disruption when it comes to trade once the u.s. leaves in march. that political text, willem, will be published tomorrow as you said very well, there's a lot of events happening this week and the publication of that political declaration is one of the main steps ahead of the summit here on sunday. >> you were there all of last week as things started to melt down here in london, and i want to ask what if anything has really changed in that side of the world when it comes to the resignations we've seen from ministers here in the u.k. including the brexit sector? >> well, not really. in fact, the european commission said last week that its prime minister, theresa may, that has

been the main negotiator and we've also noticed despite all of the resignations in london, all of the turmoil back in the u.k. has not really stopped the process here in brussels all of the institutions are doing their own work to prepare for the summit here on sunday. >> is there any indication that the e.u. has made provisions for a possibility that after that summit when theresa may brings it back to the british parliament, if she then loses a vote on this withdrawal agreement as it stands, what is the e.u. prepared to do? do you have any idea >> that is one of the big questions at this stage. the czech representative told me that european leaders are likely to discuss that issue on sunday, however, there is no clarity at this stage of where the e.u. stands on that point all we know is that the preparations for a no deal continue in fact, the european commission published several documents to

prepare for that ee vventuality before the exit agreement was published last week. but let's wait for the summit here on sunday to get more clarity on that front. >> always looking for clarity. thanks so much for joining us from brussels. for more on brexit's impact, we've been asking for the view from the barclays headquarters julianna, there's been a lot on the brexit talks what does this mean for the underlying economy here in brittain >> reporter: thank you, willem yes, i am here once again from the barclays trading floor at their headquarters here and i am very pleased to say that i am joined by barclays senior economi economist. she is here to give us some insight on what this all means for the economy. firstly, can you give us your base case for brexit. >> good morning. so in terms of our base case, we are expecting it to go through

and move into transition in march 2019 we do expect smooth transition there and we expect growth to slow be it slightly below capacity so at 1.3% this year, 1.7% last year and 1.4% next year that's our base case scenario. for inflation, we expect inflation to accelerate and move to 2% and to stabilize throughout those levels. in terms of a policy perspective, we're not expecting rate change from the boe during the course of this -- the next 18 months or so. >> so your base case is that you do see a deal? >> yes yes. >> have the events of the last week changed your down side scenarios? has it really materially increased the risks that we don't see a deal >> i think recent events have raised risks slightly, yes, definitely what we've seen in the

withdrawal agreement from an economic perspective, there have been positives in there. firstly, we have the option to extend transition that allows further time to finalize the trade agreement and then the fact that we have a u.k. wide customs union. that allows us to avoid a hard border and then minimizes some of the economic impacts of the brexit process however, this has come with some push back from certain political parties that's been quite polarizing from a political perspective. as a result, that's raced the risk of of a no deal process >> so if i understand correctly, if this does get through parliament, if it does get approval, the current deal as it stands is actually more positive than you were expecting? >> yes the fact that we have further time during the transition period potentially to finalize the details of the trade agreement, that can be quite positive indeed, yes. >> and i want to touch on some of the u.k. economic data that's come through recently.

q3 gdp was strong. >> yes. >> more recent indicators suggest that momentum is actually potentially slowing what is your view into q4 and into 2019 for the u.k. economy >> just to touch on the q3 number it was driven by strength in july and temporary factors as well we had some very good weather, et cetera. these are the temporary factors that drove consumption if we look at what happened in august and september, we saw flat gdp numbers the early signals for september, early signs of q4 are weak it's back to the lows that we saw for this year. and so the overall picture also from retail sales, we saw weak retail sales two times in a row. it's looking quite weak and potentially shows down side risks forecasts for q4 we're looking for .2,

potentially .3 in that forecast. >> in addition, we've had fresh housing data come out that has continued softness so putting this into the context of the other factors that you just described, how real is the risk that the u.k. actually enters a recession >> well, our base case is that we don't enter a recision, however, if there is as we've seen the sentiment has been deteriorating. brexit is impacting so if we have a no deal scenario, we expect that growth could slow quite sharply. we were expecting growth to slow to .02%. the more immediate impact would be through inflation if we were to revert to wto tariffs, you could see that picking up. you could see inflation in the region of 3.5% or higher. >> what does the boe do in the case of a no deal just picking up on the back of your inflation comments >> well, they'd have to sort of

weigh up the pros and cons of inflation. also growth. unemployment could be in excess of 6%. in that case it's going to be very hard for the boe even though they've said the risks to either direction, you could see a hike or a cut, but we think they're more likely to look through the temporary impact of inflation and try and support growth and unemployment. they're more likely to cut in the event of a no deal. >> on the positive side of things if we do get a deal, there is a view out there and the boe has embraced it that we will see a return to investment in the u.k a lot of companies have been stalling their investment process as a result of this. do you see a major rebound if a deal gets through? >> if a deal gets through it would be quite positive in sentime sentiment. we see the pmi rebound however, a sharp pickup in investment might be difficult. we're only entering transition we still don't have clarity over the future relationship n. that

case we still have a similar situation in that it may be difficult to make those big investment decisions in terms of capital expenditure, et cetera so companies have been quite flexible in the way that they're meeting demand over the last year or so they've been favoring employment, increasing employment rather than actually investing decisions which has been great for the unemployment rate, however, in terms of a pickup -- sharp pickup in investment, it might be difficult to see that. >> thank you very much for joining us this morning. that was great insight senior u.k. economist here at barclays thank you, willem. >> very interesting subject matter as ever just to give you some fresh pictures from brussels, we can see that european finance ministers are arriving there in brussels for a meeting ahead of the big meeting. talking live to reporters on comments from the german side very closely watched when it comes to brexit. we've already heard from peter

albermeyer about that, the idea that it will be very, very difficult for anyone to renegotiate the deal and theresa may has done a good job of getting to where she is. sticking with germany, the chancellor angela merkel and emmanuel macron have worked to strengthen the european union. they met in berlin on germany's national day of remembrance. macron called for closer relations between the two countries and said they must work together to prevent further global chaos macron urged for more integrated european union the continent is at a crossroads as it confronts nationalist forces. >> translator: in the coming weeks and months there will be intensive discussions and decisions. on the german level and the european level we must do a great deal by may of next year to achieve a united, more sovereign europe

which we so desperately need. protests over rising fuel prices have left one person dead and hundreds of others injured they accuse president macron of, quote, abandoning the little people more than 1/4 of a million people took to the streets in a sign of the widespread public discontent with the president. macron has not yet commented on those demonstrations if you have any views on brexit, on france, on germany here in the u.k. get in touch on twitter @streetsigns tweet me directly @willemmarks. the cia is set to report that the killing of jamal khashoggi was called for by the w udi crown prince howill the president handle that we'll tackle that after the break. the riskiest job.

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like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. well, we already mentioned earlier in the program that the saudi newspaper reporting that tokyo newspapers could arrest carlos ghosn

you can see the impact that's had on the share prices of renault. they look like they'll be speaking later on in tokyo nissan saying it will brief reporters monday night keep an eye there when it comes to the details. meanwhile, president trump says there's no reason for him to listen to the murder of reporter jamal khashoggi it was a suffering tape, a terrible tape. the u.s. central intelligence agency has concluded that saudi crown prince ordered khashoggi's murder, that's according to a person briefed on the cia's assessment hadley gamble has the latest from riyadh. any public comments from the saudi officials about the cia's conclusion there >> reporter: none whatsoever, willem, and i think that really does speak to the crux of the matter for so many people that i've been speaking to on the

ground here in riyadh. they're waiting for some form of damage control here in the government they're hoping for something like that in the next 24 to 48 hours in response to what we're going to hear tomorrow on the cia report remember, we've seen multiple comments coming out of the white house from president trump himself again and again seeming to do a dance when it comes to whether or not this cia report shows there's a smoking gun that links the crown prince to this the president doesn't seem to have bought into t. let's listen in. >> our syria director who's terrific and very knowledgeable and been studying this very closely. it's a horrible thing that took place, the killing of a journalist very, very bad situation khashoggi. and somebody who's respected it should never have happened, and we'll be having a very full report over the next two days,

probably monday or tuesday. >> did the cia assess that mbs was behind it? >> they haven't assessed anything it's too early that's a premature report. that's possible we're going to see. we'll have a report on tuesday and it will be very complete in the meantime we're doing some things to some people that we know for a fact were involved and we're being very tough on a lot of people. >> what's this report on tuesday? >> we're going to come up with the report as to what we think the overall impact was and who caused it and who did it you're talking about a killing, we're not talking about anything else we're talking about a killing. so who did it. >> reporter: now at least five people here inside saudi arabia have been charged with the death penalty. a lot of people that i'm speaking to say privately they hope this trial will be open to the press, will show that there is some transparency to the process. you remember that the government was saying all of these folks should come out and say, that

would absolutely not happen. this has major implications for that saudi/american relationship because at the end of the day a lot of people in washington want the president to move on this and they are calling again and again poor potential sanctions on mohamed bin salman and we're looking for a smoking gun. it's going to have major implications potentially for future investors willem >> hadley, thank you so much hadley gamble live from riyadh we'll head to cnbc.com to see why saudi arabia has slashed oil shipments to the u.s. and it could slash prices and upset the white house. brent is trading 3/4 of a percent higher at $67.23 per barrel the asia pacific economic

corporation summit has finished without any kind of joint statement. the u.s./china tensions loomed large over the usually collegial conference and in back-to-back speeches chinese president xi jinping rallied against multi-laterallism and mike pence doubled down on critics. a senior u.s. official told reporters that china couldn't accept a phrase and they would fight all unfair trade practices. others said the u.s. wanted to call for reform for the world trade organization which china didn't want. the rivalry was on full display at the summit where the two countries presented competing visions for the region

mike pence criticized the proposal. >> do not accept foreign debt that could compromise your sovereignty. protect your interests, preserve your debt and just like america, always put your country first. >> president xi backed a multi-lateral trading agreement presented after world war ii he presented china as a defending power. >> translator: it is not an exclusive club to members, this is a major and transparent initiative by which china shares opportunities and perceives common expectations are that tw will discuss a possible framework and maybe a truce from

the terror fight as he was leaving a peck vice president mike pence told reporters that he spoke with president xi twice president trump believed that a trade deal could be reached but that the u.s. felt that it was in a strong position he reiterated china needed to open up the horkts r markets they wouldn't fop, cnbc business news, beijing. rescue services in california have scrambled to find hundreds of people that have been unaccounted for after wildfires continued to devastate the state. the official death toll stands at 76 with over 1,000 other people still formally missing. >> reporter: in northern california this is what the camp fire has left behind. towns and homes destroyed. more than 1,000 people are missing and the death toll keeps

rising >> an additional five remains were recovered bringing the total up to 76 human remains. >> reporter: saturday president trump addressed the region and addressed the loss of property and the loss of life. >> this is very sad to see as far as the lives are concerned, nobody knows quite yet. we're up to a certain number but there are many that are impacted. >> many survived. >> we're living here and advised to move on. >> all we've heard for weeks is by sunday everybody had to be gone i'm going to be the last to leave until everybody's gone because everybody needs help. >> at least some help has arrived. >> brought some hand wipes, toilet paper, deodor rant. toys for the kids. we got little board games.

>> trena read. >> two weeks ago they had their lives and they were going about their day every day. normal activities just like we were and they need help. >> reporter: help in the wake of tragedy. dan schenn nemann, abc news. coming up on the show, telecom italia hires the third ceo in as many years they'll look to contest the firm's strategy turn ayun t"seesis"n cnbc

critics get closer a british newspaper says they have submitted letters of no confidence in british prime minister theresa may as she begins a crucial week of brexit. >> these next seven days are going to be critical they are about the future of this country it's about people's jobs, it's about their livelihoods, it's about the future of their children and grandchildren. the apec leader summit fails to issue a declaration for the

first time in its history as divisions between the u.s. and china leave other members split over trade >> we have great respect for president xi and great respect for china, but in the president's words, china's taken advantage of the united states for many, many years and those days are over. >> the right call. shares in telly co l ly telecoma >> and renault shares hit their lowest levels since september of 2015 after they claim their ceo will face arrests over alleged financial trading violations >> the four major european equity markets are up. ftse 100 is up by half of a

percent. the kaka rant is trading higher and in italy it's no small part thanks to the telecom italia the ftse mib is up 1.10% let's check in on the currency markets. the euro is trading slightly weaker against the dollar. the dollar is slightly weaker against the yen and the pound is trading around .10 of a percent higher than the dollar across the board you can see a bit of dollar weakness in terms of the u.s. futures before the market opens on that side of the atlantic the nasdaq is looking to open higher with it up 35 points and the s&p 500 looking up higher at this stage of the morning. one of the big stories we've been following this morning,

renault shares, they've hit their lowest levels after a story dlams tokyo prosecutors will arrest carlos ghosn he has agreed to speak to prosecutors about the financial instruments and exchange act nissan will address people shortly. they're trading sharply lower as you can see there. you can see renault itself is also down more than 5% mitsubishi motors down 2.25 of 1% in the german listing down in italy banca carige shares removed the lenter from the negative watch they're planning some recapitalization, however, fitch has warned that the bank's credit profile remains, quote,

highly vulnerable. danske bank's whistle-blower is talking to u.s. law enforcement agencies over the lender's money laundering scandal according to "financial times." they report that the former manager has been cleared to talk to both the department of justice and the securities and trags network. meanwhile, hitachi could be preparing a $13 billion offer for abb's power grid business. that's according to the "financial times" as well. abb shares jumped as you can see there, 1.5% on friday, up 1.4% this morning amid reports that there are potential suitors.

both firms have declined to comment on that report so far. volkswagen will invest 44 billion euros in electric. they will hold a conference call later today to outline the plan. the ceo told cnbc on friday he believes vw will become the world's most profitable electric vehicle producer. >> the electric vehicle's first generation will be tough to achieve the same level of margins we see today but all vehicles will be profit annual is so we will have positive margins. having positive margins we can achieve the markets. there's a positive business case we also see that the vehicles we will bring to market are highly

attractive vehicles and they have also advantages over the left side. so in order to run those kinds of vehicles will be much cheaper, so pricing is also an option we will have lease vehicles so we think that we have a very efficient way to cope with the fleet targets but also redefine the brand as really electric vehicle brand worldwide. heading everything up, very emotional vehicles, high economies of scale i think we will be the most profitable company in electric vehicles. >> telecom italia has appointed luigi gubitosi to the board. the former ceo was fired after resisting the calls to spin off

telecom italia's network he's the third executive to leave the company in as many years. to give you a sense of how shares in telecom italia have steadily declined, take a look at this. this is since activist ceo took over the company there was a bitter battle with the french conglomerate. it faces fierce competition. they're triend to fend off ttryd off the debt they're trying to gain market share in latin america earlier this month the company reported a 2 billion euro write down and cited competitive pressures. the ousting was followed shortly thereafter and vendi described the move as, quote, mean and

cynical. my colleague claudia joins us from milan this has been a remarkable turn of events, hasn't it, claudia? >> yes, it has you painted a clear picture of what's going on in terms of their business, but as far as shareholder issues, well, we'll see what happens after this announcement has been made about him becoming the new ceo as you said, amos genish was ousted last week after the 2 billion euro writedown let's hear what he has to say about this change in management? >> it was another sad chapter in the long history of the company. i'm sad for the company and the outcome of the week.

i believe that with that kind of dramatical change in leadership and in strategy, which is clearly dividing the company, breaking up the company or maintaining the company, the only one that can be excited about that is the general assembly should be called to make a decision at the investor level. any decision made would be in the best interests of all investors. >> reporter: so amos genish clearly not happy with what's happening. luigi has made it clear he will be going forward with accelerating the cash flow to repay debt as well as selling off some assets. so certainly it will be interesting to see if, in fact, it does happen that they do spin off the spine ber pafiber part

business to understand the fiber business, clearly it will be interesting. it's important to understand how many people will be going with the company, how much debt will be attributed to that part of the business so it's very much too early to say, but clearly the market today is applauding the move toward this new ceo as the stock is higher by about 4 percentage points here so far in trade. as you did say, willem, this is the fourth ceo in four years he has a very strong background in terms of finance as well as his connections within the political circle so it does look as though this spinoff may be possible by that aspect but it looks like they will not be going down without a fight. clearly it's too early to tell whether this will, in fact, go forward or not it looks as though this is an

important day and there's a lot more to see before any decisions are made. >> claudia, thank you. for those luxury watchers amongst you. will michael kors acquisition of versace be in line we'll have more on that after the break. (vo) gopi has built her business with her own two hands. each unique piece comes to life in the same way... a messy, sloppy, splattery way. but now she's found a way to keep her receipts tidy, even when nothing else is. (brand vo) snap and sort your expenses with quickbooks and find, on average, $4,628 in tax savings. smarter business tools for the world's hardest workers. quickbooks. backing you.

welcome back to street sieps. take a look at these share prices for nissan and renault. trading down 7 3/4 of 1% nissan's german listing down more than 11%. mitsubishi down more than 2.25% also with the german listing to try to explain why this might be, my colleague nancy hungerford is joining us live from singapore what's going on? >> hi there,ville le-- willem.

i've been on the phones reaching out to nissan. have not yet heard a response. speaking to several auto analysts in the sector, too. i think everyone was caught off guard by this. a lot of people are surprised. they are waiting for the press conference and more informatio as to what exactly is at stake here i should mention that nissan is due to give a press conference they will at least brief reporters is what we understand according to reuters that will be monday nile -- if you look at it across the boards for nissan motor and mitsubishi and renault as well, clearly investors need more information in this matter i should note that when you talk about the impact of carlos ghosn, they are tied into the brand, he's a titan of the industry willem, i used to cover a lot of

european auto shows. in that circuit he is revered, respected among so many in that sector this will come to a big shop invested across europe and asia. >> nancy, thank you very much. the european commission has been deciding whether michael kors takeover of versace is violating the rules. i'm happy to say we're joined now by the managing partner of mario and co what are the challenges facing michael kors as they try to extend their global reach.

>> they want to get into luxury. they will not manage it as a successful french conglomerate they have size and expertise in the sector. >> how realistic are capri's plans for versace, its most recent acquisition, are they workable >> for versace they want to invest in communication and open new stores they want to increase the part of footwear and leather goods. next is the execution. the development of ser va chi is quite accelerated. they're plotting in their plan

30 openings this year and it's not so easy to find 30 top locations around the world. >> let alone more to come in the years to come. they're looking at 50% more stores adding another 100, 30 this year and 60 and 70 down the road. >> for sure there are many opportunities around global brands, we have a store network between 400 to 500 for shower sourcing 30 locations in a year is pretty difficult. this is the first obstacle that i see there. the second obstacle that i see also in the company is to make such strong growth, you have to maintain structure in the company. creative management and the department another issue that you can see there is that versace is a lucks

oury brand the majority of the consumer versace is the brainchild of -- >> if she's not happy with the future direction and she walks, then you have a huge amount invested in her as that key man essentially? >> absolutely. you are taking a big personal risk you can think when we have a brand and designer walks away, you have gotten the short term option of consumers. you don't see the designer of the favorite person anymore. if you are looking in the past, very is a chie, the tragic death of johnny in 1997, for many years thanks through the great work of ms. donatelle and her team, they were able to get the allure from before

in any design you have to talk to them in a lot of these. >> the nuts and bolts of the deal, if you look at things like distribution, ecommerce as a platform, presumably michael kors with a relatively sophisticated platform will look to integrate the technology and extend it to versace when you look at potential, it's not a question of saying, you know what, we sell michael kors in this mall in middle america we'll start selling versace products there as well there's a separate consumer target how do you find the synergy when it comes to consumer distribution >> you touched a key point we can place more synergies on

an investment in luxury. they have less synergies especially in distribution than through luxury brands. if we look in particular at distribution, the main synergies, as you mention, china is pretty different than michael kors and versace they want to be close to higher brand while michael kors is going in the accessible. also part of a world, especially in asia, the luxury sales are luxury and in some of the malls. michael kors is not there and versace should go there. so it's tricky for sure. >> finding the balance >> yes. >> thank you very much. the managing partner of

ortelli and co. the hard line in the u.k. to oust british prime minister theresa may has so far failed enough votes to trigger. she said a leadership contest would serve as a distraction and it could complicate the brexit and it could delay it. the 21 month transition period that will follow brittain's departure from the e.u. could be extended further michelle barnier had suggested this could last beyond the deadline of 2020 and could potentially continue until the end of 2022. the fte said barnier had floated this yesterday my colleague has spoken to the dutch finance minister and gotten his take on the current circumstances around brexit. >> this proposal is different

than the proposal of last time apparently there's links to the mff and it is linked to the necessity to push through reforms but at the same time many remain. the key objective will be is this in the interests of our citizens but we'll now first listen to the explanation and hear what it is all about. >> are you concerned that potentially brexit -- are you concerned that potentially the brexit talks will derail process on eu reform or are you quite thankful for that? >> there are very different discussions we have on our hand. the brexit, italian budget and this one clearly mentally they're all linked and at the same time they're all different and involving different topics we'll have to deal with them one by one. >> that was the dutch finance minister talking to my colleague

sylvia mara. president trump has said he probably won't agree to a sitdown interview with cisit -- special counsel robert mueller >> it's going to be up to him. i think he's very well aware politically. i think he's astute politically. he's a very smart person a very respected person. he's going to do what's right. i really believe he's going to do what's right. >> you won't overrule him if he decides to curtail -- >> i would not get involved. >> my nbc news colleague tracie potts joins now from washington and, tracie, it sounds like a little bit of a reversal after nearly a year of the president saying he would willingly sit down with the special counsel. >> reporter: well now he's saying he's only going to answer these written questions that his attorneys have long been trying to work out with the special counsel, but that can happen

so soon apparently they're done. the president said it was not a big deal it wasn't a lot of meetings. he says they simply sat down and recorded what he dictated and those answers should be going to robert mueller sometime this week before thanksgiving president trump answering questions about possible collusion, which he has repeatedly said there was none between russia -- rushan actors in his campaign but not asking for that as for matt whitaker, the acting attorney general, now opponents have gone to court asking a judge if he should have that job, if he should play that role because they say he's not legally next in line, that the president skipped over the deputy attorney general who had been willing to let this investigation move forward for someone who had been publicly critical about it.

>> thank you, tracie appreciate your time this morning. to bring you the latest on renaur renault's share price. the japanese newspaper said the ceo would potentially face an arrest 11.5% lower on the day 2 billion euros of value wiped off the company's market cap let's check in on the u.s. markets open you can see all three of the major indices being called ever so slightly higher with the dow jones up 24 points that is it for today's program i'm willem marx. "worldwide exchange" up next [ phone rings ] what?!

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it is 5:00 a.m. here at cnbc global headquarters. here is your top five at 5 breaking news, nissan stock plunging reports its chairman carlos ghosn will be arrested in japan. the latest on the fast-moving story ahead. opec is cutting it and oil is falling the saudi crown prince did order the death of saudi reporter jamal khashoggi facebook is at war and british prime minister