tv Street Signs CNBC March 6, 2019 4:00am-5:00am EST
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zbriefrmgts welcome to "street signs. these are your headlines from london european autos and suppliers drop after a german bearings maker warns of a challenging market ahead chinese stocks rally on stimulus hopes dialogue semishares are super charged after the chipmaker reports fourth quarter revenues within guidance, but it
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warns that it will decline after scaling back with apple. forman nissan chairman carlos ghosn leaves jail after a last ditch bail appeal from prosecutors to keep him behind bars well, good morning, and welcome to "street signs." as you just heard there from in the headlines, not a lot of new concrete developments on some of the macrothemes that markets have been watching over the last couple of weeks. the u.s.-china trade, the npc out of china today a number of corporate stories coming into focus, and right now the stock 600 is trending slightly lower. down about six basis points. no massive moves this follows a relatively muted day yaed as well the stock 600 ended up a touch hire just about 15 basis points yesterday's sentiment boosted, in part, by euro zone services pmi slielgs ahead of
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expectations overall a relatively sluggish start to trade let's get a look at european markets. yesterday the ftse 100 was the key outperformer in terms of the regional split right now ftse 100 flat on the day. the dax down about 30 basis points the worst performer. the bright spot so far this morning, the italian index, up about 11 basis points. let's get into the sectors i think it's quite interesting to see this morning the real laggard, the auto space. down about 90 basis points we'll look at what specific stocks are driving that. that's the worst performer of the bunch. at the top we have basic resources, let's head outside hold goods, oil and gas. one name to flag on a single stock basis, b.a.t. shares there trading towards the top of the stock 600. this came after investors betting the resignation of the fda commissioner yesterday might mean a rethink for the way the regulators look at the e-cigarette market an interesting single stock to
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look at. the auto sector perhaps the most interesting at the moment, and i want to bring you over to schaffler. shares are down 90%. that is a german auto supplier who has warned that 2019 will be an extremely challenging year. they have announced a major restructuring program, a number of job cuts, and they have cited weakness in europe and chinese demand filtering through to the broader auto sector and it's dragging down the auto space in particular, the auto suppliers, down significantly now, results from a tech sector slightly more encouraging. i think willem has more. >> dialogue semiconductor one of those shares it posted a 2% rise in fourth quarter operating profit and expects to fall in 2019. the angelo-german chip maker posts a single dip after it reduces its exposure to apple, which makes up about
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three-quarters of its revenue. when the company made the agreement in october, dialogue predicted 2019 revenues would be flat shares have rallied as analysts shared the company's evolving business model life insurance legal in general has posted a 10% rise. it cited record annual sales of annuiti annuities. earlier this morning ceo nigel wilson told cnbc that investors are too focused on short-term results. >> we've taken the view that we will invest for growth i think too many people still focus on short-term earnings, particularly quarterly earnings. we're trying to discourage companies from doing that. you know, we would like if we dropped quarterly earnings reporting for all companies, both here and in the united states, because it will just make everybody think much more about the longer term and as long-term investors we want companies to manage their business for the long-term
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rather than, you know, maximizing their leverage ratio and buying back shares >> the office group iwg says it will close and refurbish a number of its locations after the company posted lower profits in 2018. full year operating profit fell 5.6% year-on-year to just over 154 million pounds that was in line with guidance the ceo mark dixon told cnbc earlier today that the closures constituted a normal event in that industry. >> if you would have looked at 2017, we closed the same number of sites when you have a business with a multi-site 3,500 business, you are always closing cites , the 100 or so we closed are a small proportion, and we're upgrading sites, repositioning the whole time that sort of number of closures is a fairly normal event >> in other corporate news, vivendi has sold the remaineder
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of its shares in europe's largest video game developer ubsoft, and ended any hopes of a takeover the french media conglomerate sold its 5.9% stake for around 430 million euros to investors, including the chinese tech giant 10 cent. the sale marks a setback for vivendi that had hoped to make gaming a pillar of its media entertainment package. >> meanwhile, the u.s. secretary of state says president trump will walk away from a chinese trade deal unless it is perfect. mike pompeo said he is still confident the current talks will yield a positive result, but he also insisted if it doesn't work, we'll keep banging away at it >> button going tensions that involve the telecom's giant huawei continue to cloud the prospects for any trade deal the chinese firm cfo is set to appear before a vancouver court ahead of her possible extradition to the u.s now, her legal team has filed a lawsuit against the canadian
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government over the handling of her arrest in december the "new york times" and reuters have also reported huawei is preparing to sue the american government over an earlier proukt ban the company argues it's unfairly specific our colleague uenice yoon joins us live from beijing what's the latest on this story? >> well, the latest, juliana, is that huawei's cfo will appear tonight. as you said, she's going to be appearing at the british columbia supreme court and then this appearance is meant to confirm that the court can proceed. there's still a lot of back and forth that's going to happen likely between the defense and the prosecution. we are expecting that the proceedings will continue, and
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in the meantime, huawei itself has repeatedly said that it's very confident that the illegal process will eventually show that she is innocent however, beijing has taken a much harder stance beijing's position has been this is a political decision by the united states, and they have repeatedly demanded for her immediate release. i've been talking to a lot of lawyers about this and just asking why is china so extreme in its response, and what actually are its options now when it comes to huawei. there are really two ways in which the chinese government can in some way influence the process and possibly help to get huawei's cfo's case dismissed. one is to pressure the canadians. then they could potentially dismiss the extradition request, or the second point is to
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convince president trump to withdraw the extradition request. those are the two options in which they could actually get involved what have we seen so far this week the chinese government has said that they have new evidence that the two detained canadians have been gathering information on china, so previously they have been accused of spying. secondly, another development here is that the chinese customs authorities have revoked an export permit for a very large canadian canolafirm, and there are a lot of people who are curious about whether or not these two incidents are related. in terms of the other approach, you could directly ask president trump. well, there's an expectation that president trump and president trump xi are going to be meeting later this month as part of a larger trade deal, and there is an expectation that
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perhaps president trump, who has brought up and suggested that huawei could be discussed at this meeting would be the one the chinese government would want to approach now, there's also a lot of chatter about how perhaps the chinese government in some way is undermining huawei's case, because the third option that they can actually take is just to sit back and let the legal system take its course that actually isn't happening, and actually, on social media some people in the public have been commenting that the government support for huawei does come with the price and that huawei is not a government entity and it would itself say that it has no links at all with the government, it's because of the fact that the government is supporting huawei so much. there are those in the public who are concerned that huawei at the end of the day is at some
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point going to be perceived as a government entity, whether it likes it or not. >> officials said they would further loosen restrictions on foreign ownership of chinese companies. this is charlie, the investment manager for chinese equities thanks so much for being with us the restriction on chinese company ownership. this refers to the negative list can you explain to people why this might be a significant decision by the authorities there? >> well, there's lots of complaints from multi-national companies about the operating environment in china, and many restrictions on them of course, part of that is ownership. what they really are doing or trying to do is to move towards allowing more control by those foreign companies of their
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operations within china, and in particular, actually in the auto automobile sector is where she's seeing that. it's opening up and allowing those foreign companies to really control what they do and their investment decisions >> how does that relate to the decision of msci to allow changes to the weighting of a list shares? why does that matter from a foreign investment perspective >> broadly speaking they're part of the same process of reform, but the msci decision is really about how foreign investors, like ourselves, go into the asia market for specifically, there is a trading mechanism called connect where we trade through hong kong which allows much more flexibility, and that is specifically the mechanism that is addressed a lot of msci's concerns about access for foreign investors and that is why we have this increasing weight from them. >> do you think the tech board is going to be a game changer, assuming it's successful >> i'm not sure it's a game changer. it's certainly an improvement. i think one of the reasons that
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all the chinese technology companies are listed in hong kong and particularly in the u.s. is that those domestic capital markets haven't provided them the equity raising tubts that they need for them to be able to do that domestically is good news for china, but i'm not sure it's going to be a game changer let's see how it evolving. >> you yourself just returned recently from china getting some firsthand insight into what's going on the ground. when you return from that trip, did you have any strong feeling i need to get into this stock, i need to get into this sector now or conversely it's time to sell this position now? >> i think what was most obvious, actually, was quite how cautious and how pessimistic domestic investors were. you know, they were focussing on the slower economy stock markets are discountin mechanisms you are looking at data on the economy and corporate profitability, but you are also looking at policy. can you see policy working more progrowth. that was forcing us to feel more positive, and actually, if you look at measuresof risk
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aversion, they're really pretty elevated if you are a medium to long-term investor, when people are fearful, you know, that's when you need to think about buying, frankly. >> in terms of being an investor from osd of china, you talk about what you got on the recent trip from the outside investor such as yourself, the changes that are being announceed in recent days and weeks, are they going to be a definite positive for someone like yourself do you think, or is that something that you are waiting to see how that shakes out >> if you are talking in terms of the msci conclusion, i think it's a medium term positive. i think people will interact month are with those a shares. the chinese economy is trying to do three things. it's trying to grow, reform, and deleverage what that means is you get every six, nine, 12 months a shift in policy in deleverage and growth. right now we move from 2018, which was heavy deleverage emphasis, to pro-growth. that kind of switch is going to get investors a little bit more positive on the economic cycle, which i think, you know, helps,
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and then these is ci changes are much more longer term, which are positive >> and taking all those factors together, do you have concerns from a perspective about volatility in chinese markets? >> well, i'm used to it. it's what i invest in. many of my clients find it extremely scary, and i totally understand that. actually, from a portfolio of china shares, if you add in more a-shares, actually you can get diversification benefits you get the possibility of better performance and lower volatility, which should help. >> we looked into some of your research notes before you come on to the set, and i thought it interesting. you say you currently find many value and growth at a reasonable price investment opportunities in the chinese equity markets across hong kong and shanghai. where are these opportunities specifically what stocks are you looking at >> that's what's really changed in the last 12 months. 12 months ago the growth shares were really quite expensive, but now a lot of them have fallen.
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these sectors a big benefit of reform the chinese state-owned energy companies are basically generating a lot of cash and are paying it out with high power ratios a value investor can see actually good value and high dividend yields from that sector companies like china petroleum >> china, audrey, thank you very much >> and italy will join china's belton road initiative according to the financial times the paper reports that rome and beijing could sign a memorandum of understanding by the end of this month that could coincide with china premier xi jing ping's visit on march 22nd one u.s. official told the ft that the move could harm italy's
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global reputation in the long run. meanwhile, reveller has descended on new orleans for this year's celebrations of mardi gras the last day before the start of the christian fasting season of lend lent. nbc news's wendy wofolk took to the street of the big easy and filed this report. >> reporter: mardi gras means creativity to some >> we are mardi gras's superheroes. >> and costumes for others meet queen cake baby, captain bourbon, and fleur de lis. >> we love all the costumes. it's so fun. >> reporter: and families love the parades and floats >> i caught an umbrella, a sword, lots of coconuts. >> it's mardi gras and fat tuesday on my 21st birthday. >> many take it very seriously
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>> nothing nothing makes her smile at all >> not even you? >> no. definitely not me. >> we're magical just like mardi gras >> mardi gras revellers 2019 will not disappoint. if you have any mardi gras stories to share, follow us on twitter at street signs cnbc or tweet us directly. >> coming up on this show, a british broadcaster reports the u.k. will cut trade tariffs to a historic low if it crashes out of the e.u. with a no deal we'll give you more details on that report after this break
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to tv on any device. beyond low-res surveillance video. to crystal clear hd video monitoring from anywhere. gig-fueled apps that exceed expectations. comcast business. beyond fast. welcome back to "street signs. british mp's have the future strength of workers rights post-brexit. downing street says parliament will be able to choose whether to mirror and then also keep pace with e.u. labor standards after the e.u. leaves the bloc
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the move represents an effort from prime minister theresa may to win the support of some opposition party lawmakers for her unpopular withdrawal deal. meanwhile, the u.k. government will slash trade tariffs to an historically low level if it leaves the e.u. without a deal, according to sky news. the british tv news network has reported the department for trade has considered cuts of between 80% and 90% on all import tariffs the report says the government could entirely eliminate tariffs on car parts many finished food products and some farm it products including cereals. boston fed are president eric -- has signalled that the central bank could wait until june to change rates in a speech, he said the fed will probably need several months to understand whether economic risks have become real. let's take a look at the u.s. dollar and see how that is trading so far this morning. hopefully we'll have that for
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you momentarily, and would flag that this has been a strong week for the u.s. dollar. it's now climbed through yesterday for five straight sessions helped, in part, by the solid data that we had yesterday out of the u.s now, i want to bring in somebody who knows a lot more about the dollar than i do downa, fixed income portfolio manager. yesterday we did have positive data out of the u.s. not the ism nonmanufacturing survey, and also house sales were slightly better than the market had expected. in terms of the u.s. policy -- the u.s. economy will revert to trend growth, so we don't see a slow -- a recession coming through later this year or even early next year because we think u.s. fundamentals actually remain quite solid the u.s. consumer is in a very healthy place. the federal reserve has indicated that they're willing to slow down their pace of tightening so some of the
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slowdown would see financial conditions tightening and easing of the data. while the impulse will be fade, we still see a solid u.s. economy. >> what does this mean for the u.s. dollar? >> ultimately, against developed market currencies, i think what the dollar faces is the fact that it remains one of the highest yielding developed currencies it means that it will be a rather hard sell against currencies that said, with he do also expect to see a pick-up in growth in the rest of the world later this year, which will be supportive for currencies in the second half of the year. strength in the first half and perhaps a bit more of a range-bound environment for the dollar going forward >> irrespective of the fed's next move, if the fed does wait until june like we just heard from the fed boston president, does that still mean the dollar can perform? >> i think that's pretty much priced in. when you look at what rate markets are pricing in, we're not expecting a hike this year
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at least that's what when you look at market applied interest rates for the rest of the year look like. it's pretty much the consensus the risk would be actually if the fed indicated that they are going to be hiking similar to what we saw last year. so i think the balance of risks as far as the dollar goes are much more balanced >> so the fed does hold off for a few more months. and we see essentially the idea that emerging markets react to that decision. are they going to react positively in your view?
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>>. >> which would be supporting growth in china and the rest of the em space >> diving into the em space in terms of the opportunities for 2019, how do you view sovereign debt versus corporate debt in terms of the risk-reward here? >> within the em space, we think it's an interesting dynamic. we like both em corporate and sovereign debt we expect default rates to remain quite low in the corporate space. leverage is well contained, so we don't see a pick-up in em corporate leverage, and the peck-up in growth will ultimately benefit this em corporates we like em corporates and we think they will continue to perform well on the sovereign space, ultimately it's what happens with a dollar, so if we do see a stronger pricing in the back end of the u.s. curve, then that will impact total returns from a sovereign site, but we do think actually a pick-up in growth could see spreads tighten. >> excellent well, stay with us diana fixed income portfolio
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manager from jp morgan asset management coming up on the show, carlos ghosn is released from jail, and vows to defend his name against "unsubstantiated allegations." more after the break your digestive system has billions of bacteria, but life can throw them off balance. re-align yourself, sth align probiotic. and try align gummies, with prebiotics and probiotics
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ahead as its 2018 operating profits slump. be. chinese stock rally on stimulus hopes as the company's state planner says the government will take measures to boost domestic consumption and dialogue shares are super charged after the chipmaker reports fourth quarter revenues within guidance, but it warns they will decline after scaling back its business with apple. former nissan chairman carlos ghosn leaves jail after a court rejects a last ditch appeal to prosecutors to keep him behind bars.
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er. it's been a bit of a mixed start for european stocks this morning. markets have been open for about one and a half hours now as can you see beside me, some divergence in terms of the regional performance the dax down about 18 basis points the worst performer of the bunch. the ftse 100 continuing higher up 0.14% the ftse 100 was the best performer yesterday. now, today investors in addition to processing what china's npc means for markets and their new stimulus pledges, also digesting some news on the corporate front. autos, the key underperformer today. in terms of sectors, as we just mentioned, schaffler dragging down shares. let's get a look at fx markets the dollar, interestingly, quite a strong run for this currency
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yesterday marked five straight positive sessions, helped in part by solid economic data out of the u.s. this morning the euro slightly weaker versus the dollar again at that 113 level. remember, ecb tomorrow in focus. we'll just bring you to the pound, which is trading lower versus the dollar to the tune of 27 basis points currently around that 131 level let's get a look at u.s. futures as well. yesterday we saw markets there really swing between gains and losses, but ultimately ending lower, and judging by early indication, it's going to be a relatively sluggish start today. well, former nissan chairman carlos ghosn has left a tokyo detention center after the embattled auto tycoon paid almost $9 million worth of bail. the tokyo district court had previously rejected an appeal on tuesday from prosecutors to keep ghosn in prison. he joins us from the nikkei with more details
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mikiko >> yes he was seen leaving the detention center about two hours ago wearing a blue cap, a dark-colored jumper, and a bright orange belt his face was covered with a mask, blending in with the guard surrounding him and left in a silver minivan with a ladder attached to a roof a rather unlikely choice of transportation the tokyo district court had set bail at $9 million, and it was ghosn's third request for bail and a first by his new defense team appointed last month. the defense team had offered stricter conditions, including a ban on traveling abroad and contacting anyone related to his court case now, ghon will live in an apartment in tokyo designated by the court with surveillance cameras recording entry and exit from the premises. he is able to talk on the phone, but isn't allowed any internet access and his passport will be kept by his lawyer ghosn was arrested last november on allegations of financial misconduct, and he has denied any wrong doing and released a statement on tuesday saying, "i
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am innocent and totally committed to vigorously defending myself in a fair trial. his prolonged detention has put japan's justice system under global scrutiny, and his relief today marks a rare move by tokyo's district court since only billion one-third of japanese criminal defendants have been granted bail before the first trial. the first trial may not be held until some time next year. while he is expected to be preparing for his defense, he is free to move within the country and could attend meetings where he still is a board member with the court approval that's all from the nikkei back to you. >> thank you so much that's our colleague from nikkei there reporting live from tokyo. well, meanwhile, here in europe greece has raised 2.5 billion euros in its first ten-year bond sale in almost a decade. its 11.8 billion euros, country you may remember, was shot out of international capital markets in march 2010 as it negotiated the first of three bail-outs with the european union. last week moody's upgraded its
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rating on greece by two notches, sending yields to a 12-year low. with the european central bank widely tipped to keep rates unchanged tomorrow, investors will be closely watching several policy areas, and i want to take you through what those are now the biggest announcement could be the launch of a third tltro program as the ecb bids to reignite a stalling euro zone economy. now, that could be reinforced by the release of new gdp and inflation growth forecasts, which are expected to be lower investors continue to watch for clues on mario draghi's successor. plenty to look out for in tomorrow's meeting we have diana, fixed income manager from jp morgan i want to ask you about the ecb. are you expecting any changes to its stance >> well, i think they do have to
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downgrade growth and inflation forecasts. at this point with the ecb it's a question of credibility. inflation has been undershooting their expectations for a while now, and the growth as we saw last year remains quite -- had been quite soft, so we expect a bit of a downgrade, but that's more of a market to market where the market is today. >> and in terms of efforts to try and boost business across europe, they've had this weapon in their arsenal for some time do you think it's something they're going to need to use or something they're going to choose to use as a way forward because governments are asking for it if that makes sense. >> i think they do need to use it particularly because we have not seen the pick-up in credit that they've been expecting, and the growth outlook remains quite soft for them not to roll over the tltro's that are maturing, it who actually be a tightening of financial conditions, which they can't afford at this point in the cycle. >> is there an indication there
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are businesses across europe that rely quite heavily on that particular mechanism, do you think? >> i would say most of the -- when we look across the corporate space from a fixed income perspective, i would say, a lot of the businesses have been refinancing in anticipatio of the tltro's rolling out i would say there are areas, particularly in the banking sectors where there's still a little bit of a dependence, but not to the extent that we had three years past >> now, some eb officials have indicated that they're looking for persistent indication of slowdown, and yesterday we had better than expected services pmi's. bearing in mind, that's just one set of data. does this go against the idea that we are looking at a protracted slowdown and actually reinforce the idea that a lot of the weakness was due to temporary factors? >> that's the risk in terms of market expectations versus where the data is taking us. last year we came into 2018
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expecting very strong growth a continuation of 2017 what we had was a number of one-offs whether it's in the auto sector or pharma ares or weather-related. that drag down european growth the risk now is actually that we are starting to see a bottoming out of that and growth is starting to look like it's starting to pick up modestly, but then ultimately the level still remains quite soft, so this is a question of market expectations versus where the data is rather than growth ac l accelerating quite rapidly. >> given what that means for forward guidance then, is your assumption that they leave it unchanged at the moment and say that they're going to keep rates stable through the summer? >> there isn't a rush for them to shift the forward guidance of this meeting, although we do expect them by the june meetings to be pushing that out to the end of the year at the very least. markets are not expecting a hike before 2020, so, again, this is very much a question of central bank credibility versus what the market is pricing out. >> i want to just come back to
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what willem mentioned about the greek bond auction, and what do you think we've learned? you are a fixed income expert. what do you think we've learned looking back now at the journey that groes has gone through and the role that the ecb played and what can we learn from that in terms of how to invest in european debt markets now? >> well, i think the markets have learned a couple of things. the first is that investors right now are very, very hungry for yield. the greek option was oversubscribed by quite a significant amount, and the fact that the ecb is pushing out its forward guidance means that the space should be supported, and we expect the likes of greece and spain to benefit from this low yield environment. i think the second thing for markets is that while the adjustment process within europe is fairly painful for some of these economies, they do have a backstop with the ecb, so this should bode well for the likes
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of spain, italy, even france as they start to look at expanding the physical space to open up a bit more of a space with -- a bit more of a room for dialogue with the broader ecb community to see whether they can actually -- they can actually get some room to expand some of their fiscal spending. >> i want to drill in on italy there. you mentioned i'm wondering what your view is on italian sovereign debt based on the comments you must have followed closely over the last six months from the leaders there and, again, even the last 24 hours talking about the idea that the economy is going to recover and that here's strategy that will bear fruit eventually. >> we expect this year to be particularly volatile for italian sovereign debt as they try to muddle through this weak growth patch for us the fact that we do have investors who are looking for yield means that the weakness will be capped, so we don't expect to see too much weakening
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on italian sovereign debt, but we do expect it to be a volatile period as we muddle through on this current space in the economic cycle >> final question for you. just based on your comments on the ecb, i wonder what applies in your view to the bank of england and when we talk about guilts, based on the fact we're now three weeks away from what should be a brexit deadline, what's your prognosis for the rest of the year for sovereign debt in this country >> that's a very, very interesting one. ultimately, as far as the u.k. goes, worry very headline-driven at the moment. the outlooj for brexit remains very uncertain as usual, with negotiations with the euro zone, it's going right down to the wire, so it's very hard to say what happens in the next three weeks, but ultimately, we do expect if you do get a positive outcome if the u.k. and the e.u. can negotiate terms that are acceptable to both parties, the bank of england will be hiking rates
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next year. >> well, diana, thank you very much for the insight on a wide range of topics. diana, fixed income portfolio manager, jp morgan asset management let's get to some of the day's top corporate stories. dutch bank's img and abn and raiff bank were involved in a money laundering network together with abn amro that funnels billions of euros out of russia it's by the organized crime and corruption project, which is based on a series of documents detailing transactions worth over $470 billion. >> that is the ongoing la laundromat scandal that seems to be affecting more and more banks. despite promises to the contrary at last week's hanoi summit, that's according to a couple of different reports. nbc news andrea mitchell filed this report. rirjs experts say this satellite
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image shows kim jong un is already rekindling a dormat missile site only 48 hours after the president walked away from the summit because kim would not start dismantling key weapons. >> to start up this activity only 48 hours after the failed summit is a clear sign that they are -- that they're angry and that they want to send a message to president trump >> reporter: in hanoi the president said -- >> chairman kim promised me last night regardless, he is not going to do testing of rockets at nuclear not going to do testing. you know, i trust him, and i take him at his word i hope that's true >> experts say the image does not show a missile being moved to the launch pad, but shows a testing stand, a crane, and activity on the railway to transport a missile. not random maintenance >> north korea could launch a three-stage intercontinental ballistic missile from the site capable of hitting the united states >> well, coming up on the show,
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welcome back to "street signs. british counterterrorism police are investigating three explosive packages that were found yesterday at heathrow airport, london city airport, and waterloo train station in central london nbc news's matt bradley filed this report late last night. london authorities are searching for whoever mailed this explosive device, which went off when staff at heathrow airport opened this morning, causing a small fire the latest terror scare here putting the city on edge in all, three suspicious packages containing impro he viesed explosive devices arrived in the mail at heathrow, london city airport, and waterloo station. nobody was injured no flights or trains were delayed. london has been a frequent terror target, including a year and a half ago when a homemade
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subway bomb injured more than 20 >> police say they're treating all three incidents as linked and keeping an open mind regarding motives. >> that was matt bradley from nbc news reporting there and in the run-up to international women's day on friday, we've been speaking about gender equality and female representation now, today we'll be looking at health, well being, and women in sports for the first time an all female gofl event at augusta national, home of the masters tournament a sportswriter adam reed has more details of that calendar. adam >> thank you, willem yes, more on the women's soccer world cup in a moment, but i want to focus on the next big female sporting event of the year willmany touched it on there the augusta national women's amateur championship for the first time women's golf will come to the famous greens and fairways of augusta national, home of the masters, of course. two rounds will be played down the road, and then final 30 for
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this amateur tournament will be put forward for a final round. no green jacket, but a prestigious tournament and a huge step forward nonetheless. fast forward to the summer the usa are going to be defending their title. the home nation, france, with their second favorites england did their chances no harm over the past week. they've just won the she believes cup beating the u.s., japan, and brazil in a round robin tournament 330 tickets have been sold and it's out of 1.3 million. now, forward again as well to the women's ashes cricket taking place throughout july. interesting forma the for this one. different to the men's version it's actually played during all
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three formats of the game. one day internationals t-20s and a single test match. australia touring england with that one moving on again, the net ball world cup, england and australia could be coming up against each other again. australia with revenge in this one on their minds maybe because england did so well at the commonwealth games beating the australians in dramatic fashion. look that one up on youtube if you haven't already. the women's british open georgia hall defending her title there that's taking place around about 50 miles just north of where we are here in central london. obviously coming to the fore
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then, finally, the wta tennis finals moving away from singapore where it's been its home for just a few years, and now we'll be taking place in shenzen with alina looking to defend her title in that one >> thank you for that report now, sticking with women, but moving from sport to interior design, tara better than bernard has told cnbc that women should not be stopped by their own insecurities now, tonya briar joins us for more detail in that interview. good morning >> good morning. i think it goes across all the industries with women. the common theme is actually we feel insecure. actually, we didn't feel like we had a voice at the table actually, we didn't think we could ask for more money, and that seems to have been a common theme throughout all the different businesses in the women that we've talked to
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i was always driven by the fact that to not have a place at the table was not male or female it was about skill it was about talent, and it was about professionalism. if i didn't hit those three, then i had no place at the table, and we did and some therefore, you are always correctly judged as you start out in our business on your last project, your deliverables, how -- what they've achieved, and we started to get a very good track record. we had that voice and that place. i look at our clients in munich. they're all women in the boardroom. perhaps that landscape is changing for sure it is the excitement of the opportunities ahead is stronger than ever. >> are the industries closing the gap is harder for women and getting that equality. what advice would you give what do you want to see happen
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>> it is terribly important we have a voice it is terribly important that we do what we're doing, but also, we must be balanced and recognize that around us there are some fairly powerful, important women impacting the industries, so it's happening, so it's around us. i think we have to embrace that and do the best with it. >> the brexit looming, how is that going to impact what you do how do you feel it's impacting the u.k. in terms of property and investment in your sector? >> we have for some time insured that our company is not u.k. orientated or based. the majority of our work is either in asia, the u.s., and europe back home the climate is so uncertain. it is a really vulnerable time
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for everybody, and the truth is i don't think anyone really knows. i can speculate. i think we have always had such terrific people from all over the world, and it definitely effects the deeper dive into the talent pool for us >> if there's one piece of advice you could give to those you have built up your own company. you are in a powerful position what would that be >> don't be stopped by your own insecurities you know, the limits you set yourself, you are setting. i really believe that. i think the world today is hugely resourceful we are really the most competitive times of our lives to even if you have been in business for 17 years to keep
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being in business. earlier on "squawk" this morning we had ruby wax come in, and she's written a book called how to be human all about raising issues around mental health what's the theme over the course of the interviews so far >> i think the overriding theme is never be afraid to speak up, and i think it's unusual, willem you think by -- we've reached a point, you know, there's been a seismic shift with women in the
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workplace, the way they're treated, the positions they're in, but still, you hear the same thing. actually, i wasn't sure if i could have my voice at the table. actually, i didn't know my own self-worth that's really been a common theme. thank you so much for bringing us that interview all week it's been a real pleasure having on you set let's have a quick look at u.s. futures before we hand you over to our colleague stateside we're looking at a relatively muted start to trade there s&p, the dow, and the nasdaq all pointing to a lower open well, that's it for today's show i'm juliana. >> you'll willem we're both here in london, but worldwide exchange is coming up on the other side of the atlantic in just a few moments time ♪
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former nissan chairman carlos ghosn out of jail he was released from a japanese prison more on this developing story straight ahead hitting the brakes the transports on the brink of doing something they haven't done in nearly ten years we'll tell you what that is and how it could have a big impact on your money. fda chief scott gotlieb is calling it quits a big money grab one of the world's largest ride in
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