that's all for this edition of dateline. i'm craig melvin. thank you for watching. ♪ good morning. welcome to "street signs." i'm julianna tatelbaum here in london. joumanna bercetche is in zurich and these are your headlines. ubs shares pop as it reports $22 billion of net new money inflows offsets concerns of integration costs as the swiss lender posts the first quarterly net loss since 2017. the ceo strikes a bullish note on what's next.

>> the heavy lift will be in 2024. this is where i would say it is a volatile year. china sees the sixth straight month of export declines. imf managing director speaks to cnbc as the fund hikes its growth outlook for the world's second largest economy. >> some progress is being made, but a lot more is needed which is why we have the specific recommendation of trying to hasten this process. wework files for bankruptcy protection in the u.s. as it works to renegotiate debt after the start-up was once worth $1 billion. and aramco and saudi arabia and allies vow to push ahead

with voluntary output cuts. warm welcome to "street signs." let's kickoff the show with the biggest mover in the market this morning. ubs. the bank reported a higher net loss of $785 the million in the third quarter after taking a $2.1 billion hit tied to the integration of credit suisse. the shares are up 3.3%. joumanna is in zurich poring through the numbers. talk about why the share price is reacting positively this morning. >> reporter: good morning, julianna. first, let me pick up on the headline loss. of course, that is grabbing a lot of attention. it is worth noting that the profit number is the number that came ahead of consensus.

the negative print for the quarter is a reflection of those higher than expected restructuring costs and tax charge as well when you take into consideration the integration of credit suisse the last couple of month. this was telegraphed when we spoke to ubs a couple of months ago. they said they are expecting in the coming months to increase the cost, restructuring efforts, when it comes to integrating the organization. a lot of focus on the investment banking business. we spoke about the downsizing of the business. a couple of positives do is stand out and the reason we see a positive reaction in the stock today is a fact that namely we have seen a very positive contribution from net -- if you heard that, i'll repeat that. the bank has net new money in

both areas in the global management division. credit suisse with $3 billion net over the quarter which was positive and $18 billion for ubs as well. very positive development, joumanna. at the beginning of the year, when we were here talking about credit suisse, the concern was the scale of the deposit outflows. it is remarkable that money has started coming back again. ubs said from clients that left credit suisse and some have started to come back. i sat down with the ceo and one of the first questions i asked was which region is that money coming from. >> the two major areas that contributed to the positive net new money is the fact that apex and indian region which the middle east is part of it. we are pleased to see those developments. when i look at people departure, i think it creates headlines,

but the fact is if i look back at the end of september of 2022 and now, the people that have departed basically took maximum 20% on average of assets they were responsible to advise on. i think that's it. what is very important is to note that the stickiness and loyalty we see from clients on the combined organization is very strong and we are confirming our conviction that recapturing flows is, indeed, an achievable target. >> that cost savings target of $10 billion is the number you unveiled the last quarter. how far along through the process now? the target is now 2026. >> we managed to deliver $3

billion of cost savings from the annualized standpoint of view. we will continue to do progress in the four quarters. our target is in excess of $10 billion gross savings. the heavy lift will be in 2024. this is where i would say it is a volatile year for us. we have to go through the legal entity merger and commissioning of i.t. platforms and we start in 2024 and 2024 to bring on clients in the combined platform, the ubs one. still a lot of work to be done. at the end of the day, it is all about restructuring credit suisse and taking out the synergy. we are going fast in the restructuring of credit suisse. >> reporter: there were two main questions for the investors. how is the underline business

doing? we heard there were net inflows. the other question is how is the integration of credit suisse going? out of the $10 billion, they achieved $3 billion. they are running one quarter ahead of schedule. that is positive news to the market. it shows that they are fr frontloading some of the cost savings and managed to do it without impacting the business in a very impactful manner. one thing i want to draw on is cost savings. these are not abstract numbers. they tend to be associated with head count reduction. ubs reduced the head count from a year ago by 14,000 from both entities. that is a reduction of 9%. i asked him whether or not he could give me some more color on the head count reduction and the impact on the business overall.

>> it's across the board. i think that is something where i would not note any particular issues. from a business standpoint, the la la la largest head count is where we tend to keep one-third of the count. we have been onboarding. the rest has been basically left voluntarily or we saw natural attrition or we are taking action as we speak. >> what are you doing to retain talent? one concern as a consequence of the integration, many talented people are choosing to leave and go to what they would say are greener pastures? >> you always have people leaving and you have a lot of talented people from credit

suisse that are part of the team moving forward. we are happy that some people find green pastures as you mentioned. it is a good opportunity for them. it's a win-win. i think we have a strong team. i think we will make ubs even stronger and successful going forward. i'm not at all concerned about rete retention. we see we are becoming more and more the employer of choice. we see people joining us. i'm not concerned about that. >> reporter: so when you talk about head count reduction, it is not just redundancy, but people choosing to leave as well. one analyst states this is an outflow of talent from ubs. the ceo sounding positive and saying despite a few number of

people having left, they still managed to maintain a core amount of talent. i thought it was interesting with regards to the private bankers who left, 20% of the capital went with them. 80% stayed with ubs/credit he sw -- ubs/credit suisse. julianna, despite the headwind loss, underneath the surface, the bank is doing well in terms of integration and in terms of moving ahead with its plans for the inn they -- integration and the business that is doing better than expected. >> joumanna, it is super clear. you give us a great sense of what is happening. i'm curb ious mof the outlook i

terms of the underlining business drivers. >> reporter: it is funny. you have an interview and 90% of the interview is about the integration and acquisition. at the end of the day, they are a p ba a bank competing with other european banks. i thought it was interesting to note they cited the beginning of the fourth quarter has started with more moderate and subdued levels of activity. this is a reflection of the general macro trading environment. people are concerned about higher rates for longer and the recent tension within the middle east. the geopolitical tensions are curbing people's appetite for risk-on trade. one thing which is interesting is this is interesting with net interest income. what they have said here is we

also expect clients to shift cash holdings from deposits into higher yielding products resulting in similar net interest income performance. let me translate that for you. what they are saying is nii is going to get a hit from that type of change and behavior from clients. if you contrast that to carl who we spoke to yesterday, they are positive about nii. hearing from ubs with the diversified business, that is the contrast. they are saying in the upcoming quarters, they expect that nii number to decline seqh sequenti. >> joumanna, fascinating stuff. a comprehensive report. thank you for bringing it to us. ubs is one of the best performers in the market this morning. we should widen it out and look at the equity market.

the stoxx 600 hovering around the flat line. not a huge amount of movement this morning. this after another positive session on wall street yesterday. we saw all three majors move higher. sentiment turned negative in asia overnight. a softer handover from the asian markets. breaking it down by region. a bit of a split picture. ftse 100 is in the red. cac 40 is deeper into negative territory down .30%. dax is trading lower. we have green on the board. the swiss market with no surprise there is the out performer this morning up .20%. ftse mib is trading higher. by sector, you have retail out performing up 1%. we will dive into what is driving that in a second. ubs in s in that basket. big story in wework that we will

dive into later in the program. on the down side, oil and gas is down .60%. autos down .50%. the third worst performing basket of stocks. let's get to the big movers. watches of switzerland will double the profit in the next five years. the retailer plans to expand into the u.s. market and offer more pre-owned watches. the group posted a 5% increase in second quarter revenue boosted by strong american sales. the stock is up 7%. we were up 9% at one stage this morning. over to ab foods. a 5% increase in full-year profit citing strong growth in primark. it had a 15% rise in revenue despite the uncertain consumer picture. ab foods expects to make meaningful progress in the up coming financial year.

investors responding well to that update. in contrast, daimler truck had a decline in the third quarter. the company warned it has seen a 27% fall in orders in the quarter, but still reported a 9.8% adjusted return on sales in the industrial business. telefonica launched a public tender offer to buy the stake it doesn't hold in the company of 28%. it offered 35 in cash for the remaining equity in the german unit. it is due to publish tomorrow. we will have more coverage for you. overnight, chinese imports returned toi growth rising 3%.

exports in the world's second largest economy shrank 6.4% year on year . perhaps that is why we have seen a pull back in asian markets overnight. shanghai is lower by 4 points. hang seng and hong kong is dropping as well. >> reporter: certainly a mixed picture in terms of the trade data. exports falling deeper in contraction compared to september on a year to year basis. minus 6.4% versus 6.2% and worse than market expectations at minus 3.p 3%. economists putting it down in the midst of the uncertain outlook. breaking it down further, exports to the u.s. and eu remaining in the doldrums despite the weak base falling

at .2% and .6% on a year-to-year basis. laptops and furniture are deep in contraction. there were bright spots in exports of transportation items and auto ex-poports tracking ate level rising 35% year on year. we saw surprising growth in october. the first time in 11 months up 3% after a fall of more than 6% in september. economists said hsbc is putting this down to stronger domestic demand as we saw strength in construction materials and iron/ore and copper. we will get more indicators of how things are tracking when cpi and ppi figures are released on thursday. back to you. coming up on the show, by

now pay later giant klarna sets the sights on the eventual ipo. we speak with the ceo next. my name is ashley cortez and i'm the founder of the stay beautiful foundation when i started in 2016 i would go to the post office and literally fill out each person's name on a label and now with shipstation we are shipping 500 beauty boxes a month

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welcome back to "street ped the third quarter. the buy now pay later firm is setting up a new holding company. sebastian siemiatkowski joins me now, the ceo of klarna. thank you for sttaking the time. let me kickoff with the latest result which you delivered this week. you achieved an operating profit in the third quarter which is a big milestone for the business. give us insight of the latest business trends. >> sure. it is not often i say that, but this time i'm quite proud. the team has done an amazing

job. last year, we were investing so heavily into the future and investors told us that they want to see profit now. we had to change the direction of the business. we had to take really tough decisions. we turned it around from our worst month we posted negative ebita of $150 million. this quarter, we posted $10 million more of profit only 12 months later. that is quite happy. >> how did you do it? what were the tough decisions that you took to meet those investor demands or pressure you were feeling to turn a profit sooner? >> unfortunately, part an was t the fact we could not invest as much as we were doing. that forced us to ask some of our colleagues and amazing people to leave. thanks to the fact that klarna

has a strong hreputation, we knw 85% of them had new jobs. that feels comforting from that perspective. that was only 20% or 30% of the changes. the major thing is to move the focus from grow, grow, grow at all costs to being more focused on cost reduction and efficiency and so forth. the rest has come from that. the majority has come from turning around the u.s. from loss making to actually being profitable now four quarters in a row and it is still growing and growing fast. to some degree, we had to grow ourselves into profit in the u.s. and that would turn around the gross profit for the whole business. >> one figure that stuck out to me looking at the q3 report that you published is your credit losses have come down in the third quarter by 46% year on

year. this is somewhat surprising or cou counterintuitive given we know inflation has strained customers in so many markets. how have you managed to bring credit losses down in this market? >> one thing is buy now and pay later that this is a product used by people who desperately need credit or uneducated. this is the opposite. it doesn't offer revolving or charge interest rates and it is interest free and fixed installments. these are people using our products are tired of the credit card industry and tactics on cushion the limit in your face and revolve. the average limit on the card is 1,000 pounds. we do not charge any interest on that. the point is that this actually attracts very conscious consumer that wants to use debit

primarily, but would like to use credit. you see that in the losses of 30% below average industry standards. you see it in the sense in tougher times like this, it becomes more apparent these are conscious customers. i would also say, the fact is that we in a lot of new markets are seeing less new customers or new customers are a smaller proportion of the total volume than a year ago which is partly because we have become so large in the u.s. and uk and other markets. the returning customers rate is higher. >> sebastian, you made headlines this week with the news around the new legal entity you set up in the uk. can you give us an update on the listing plans? >> yeah. look, it is a little bit boring.

it is mostly administrative in a sense. it is also, to me, a sentiment to the fact that london and uk is still the very hub of financial industry in our opinion. when we realize that as a preparation and first step for the ipo, we needed to restructure the legal set up of klarna. the question is where should we top point the company. the uk is the favorable position for that. the uk listing has not been taken out of consideration. there have been no decisions made on the topics. >> where else would you consider? >> the truth still is obviously of that in the united states. there is a large pool of investors with a very good understanding of fintech. that would be obviously. you have to realize u.s. is the largest market by revenue.

it is growing at a massive pace. we have not ruled out stockholm or germany. >> thank you for the color. sky news has been all over this story as well. the sell could take place within month and see a valuation of more than $15 billion. does that timeline and figure sound right to you? >> i don't know. you should ask them. i think i have been consistent on the questions of ipo. klarna was ready when we believe financial services is a global business. retail banking will be a global industry, not as we see local banks in every market. we want to aspire to be one of the four or five major global retail bank players out there in the future. in order to really be able to prove we have the ability to be

one of them, you know, making it in the u.s., not only as we now are available at 50 of the top 100 ecommerce sites, but having over 30 million consumers in the u.s. and profitable in the u.s. is a pre-requisite to an ipo. those have been met. we are a global ecocompany. as a consequence of that, we are pretty much been a bank and we have a publicly traded bond. we have the regulatory issues. we publish our quarterly earnings every quarter as you have seen. a lot of the things are in place. no fixed deadline at this point. we are preparing at this point. it determines on the macro conditions and stock market conditions. >> sebastian, i look forward to

continuing to speak to you in the runup of the ipo. sebastian siemiatkowski, the ceo of klarna. and shein sets sights on a $90 billion val uation in a possible ipo. the report says even that figure no longer reflects the company value on the secondary market citing people familiar with the matter. deliberations are ongoing and no decision has been made on the timing of the possible ipo. coming up on the show, lower oil prices weigh on results at aramco. we will breakdown the numbers after this. with cirkul, your water is deliciously flavored at the turn of a dial, with zero sugar and zero calories. and cirkul has over 40 flavors, so your water can be as unique as you are. try cirkul. your water, your way. now with even more flavors. available at walmart or

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ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

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of integration costs as they post the net proves since 2017. the ceo states what's next. >> the heavy lift is going to be in 2024. this is where i would say is a volatile year for us. china sees the sixth straight month of export declines. imf directing manager speaks to cnbc as they speak about the world's second largest economy. >> which is why we have the specific recommendation of trying to hasten the process. and wework files for bankruptcy protection in the u.s. as it looks to restructure debt and renegotiate real estate leases marking the fall from grace once valued at $47

billion. and klarna hints at the rumored ipo plans after the 37% revenue jump in the third quarter. the ceo speaks to cnbc over the uk. >> i think it leans more toward london versus u.s. right now. fr in geopolitical news, jan yellen will host vice premier lifeng in san francisco this week. the bilateral talks brings on a broader push to make progress before the meeting with president biden and president xi next week. they are expected to talk can climate change and debt concerns for low-income countries and unfair chinese economic actions.

meanwhile, the imf raised the chinese forecast. they now expect china to post a growth of 5.4% this year and 4.6% next year. cnbc caught up with the group's first deputy managing director and asked if the property sector issues are behind it. >> the property sector is going through a transition. it is adjusting to a smaller size as it should. there are major adjustments coming along with it. we still see risks from the property sector. one is what happens with unfinished housing projects that were prepaid for. we think the central government can play a big role which is the central government can providing funding directly to complete these prepaid housing projects. we think that will help with household confidence. we think it is important to have a quick exit of non-viable

property developers. both will be quite important in addition to letting housing prices adjust more flexibly and getting a smoother transition. >> in a sense, the progress on completing the homes. >> some progress is being made, but a lot more is needed which is why we have the specific recommendation of trying to hasten this process. >> for real estate overall, how big is the risk now we have the policy directions on resolving the issues there? >> the government has taken the steps to help the property sector. we did see a recovery in the property sector in the beginning of this year, but recently a decline and softening of sales. the pressure remains. we have seen country garden go into default. the biggest private developer in

china. there remains weakness in the market. this is not going to get over quickly. it will take time to get back to a sustainable size. we think in addition to measures that have been taken, there is a more prominent role for the central government. >> gita gopinath speaking there. the global financial summit is under way in hong kong and that is bringing together the leaders from the latest businesses around the country. emily spoke to bill winters from standard chartered. >> they are doing this against the shocks and now two wars around the world and the aftermath of covid. i think against that back drop, you know, 5.2% growth is volatile from period to period with the third quarter being

surprisingly strong. some data is coming in weaker. accelerating in the new economy sectors. think of electric vehicles and everything around sustainability and renewable power technology. those areas is where china is booming. no surprise with some things drifting down, other things exaccelerate up. it will be bumpy. the headline figures would not be as expected. it is more resilient and stronger economy. that plays to a very long-term investor in and around china which plays to our strengths. >> interesting to hear bill winter there overnight. it is driving the trade in europe. we are seeing basic resources which is a china sensitive sector. looking at the wider market, a mixed picture. ftse 100 trading lower.

cac 40 is down .30%. some out performance in switzerland now it is up 11 basis points. similar for the spanish market. the dax is trading on the back foot after the soft hand over from asia. turning to energy, wti and brent trading lower. brent down 2%. wi. it is -- wti is down 2% as well. saudi aramco is down in the net profits for the third quarter. let's look at u.s. futures. wall street is looking at a downbeat start. muted in terms of the moves lower. all three of the indices are looking at a weaker start. this follows a positive session yesterday with more of the positive momentum from last week

filter into the session. nasdaq is recording the longest winning streak since january earning .30% yesterday. it's seventh straight daily gain. let's turn to wework. the company filed for bankruptcy capping the fall from grace. the firm says the filing will only impact the locations in the u.s. and canada and reached agreement with the creditors for the restructuring plan which will include cutting non-operational leases. what a fall from grace indeed. arabile is with us now for more on this story. arabile, we have known this company has been struggling for years now. they have gone through tremendous change from the peak. what was the final nail in the coffin that's moved them to file for chapter 11 in the u.s.? >> one could say is the pandemic. the restructuring that just fired the ceo in 2019.

he left with a payout of $1.7 billion. he came out of that on top. they got a new ceo in 2020 and he hoped to restructure the business. they needed a 70% occupancy across a lot of the locations. they expanded some locations and cut down on staff. that means you didn't have enough staff to put together the kind of business you had hoped. valuation began to fall. people started to see the cracks. you hadn't listed yet. the list you set forward in 2019 is not happening until they aligned with the spac in 2021. the hope was post-covid-19, the hybrid working model means people would go to offices like co-working pacspaces. you have higher interest rates. that has impacted this business

meaning the land owners of the buildings increased the rent and wework would have to increase prices. those people would not be able to afford it. >> what is the plan from here? the chapter 11 in the u.s. doesn't mean the business is dead forever. it will be restructured. in wework's case, the decision to file for chapter 11 is because they want to be able to terminate leases without financial penalty or with little financial penalty and renegotiate others. will we see wework emerge as a slimmer version? >> 777 locations and 120 countries at present. that needs to be slimmed down significantly to maintain a business that can be sustainable in the future. we spoke to a guest earlier from

green street. he said the entity or the sector could be stabilizing in a year or two. you could find weworki being pat of the stabilization in time. in bankruptcy court, they have to try to prove and show what it is they cut down on with the costs. they will drop off with occupancy because people will look at them and think we're not sure we can stay here and that might help the likes of iwg with space as part of their portfolio. it is going to be difficult to see where they get their growth from, but it does mean it is possible. it will take time. it looks like it will be a long slog in bankruptcy court. one thing they have to learn

here is mayoshi son who needs to stretch his legs. >> what a note, arabile. you never fail to deliver on that front. let me ask you about iwg. you mentioned this. it is one of their rivals. i remember interviewing the iwg ceo several years ago when wework was at its peak. there were questions of why don't you have a valuation like wework? now iwg recorded soaring revenue at this point. >> one is the sustainability of the business over a long period of time. the business started in 1989. they both have been on the ground a long time ago.

iwg has 4,000 locations in 120 locations. 300 in the uk. they add 612 this year alone plus opened 15 in egypt just to try to shore up the portfolio. it is the various anwith the operating expenses of the free beer on tap and other expenses with wework at the time. the hybrid model works for them as opposed to the way weworked worked because it is the saturation of markets that is beginning to take effect. some prefer to stay with the brand they knew as opposed to wework. for now, they might gain from that now having less competition if wework does go under, then it means they could gain from that.

>> they are facing more competition from cheaper traditional office space given so many changes have come through with the pandemic and companies changing the way they work. arabile, thank you for breaking it down. fascinating stuff. for more on the bankruptcy filing, check out cnbc.com. let's turn attention to israel. prime minister benjamin netanyahu signalled openness to tactical pauses in its fight against hamas in order to allow the movement of aid and people. his comments came during a phone conversation with president biden where netanyahu rejected calls for a cease-fire. sky news' an mark jones is join us from israel. we may get small pauses? give us detail. >> reporter: jooulianna, not a

cease-fire. israelis are clear on that. americans and many western countries are arguing a proper cease-fire, which is political in context, because it gives the space for political negotiations is absolutely not on the cards. there is no question about israel having any negotiations about the future with hamas. they have been clear that hamas needs to be completely destroyed. it may sound nuance, but there is a difference between that and what was called a humanitarian pause and now a tactical pause. the language that prime minister netanyahu has been using, the readout from the white house overnight, suggested movement on that. that said, it is also clear that american influence here is clearly not particularly strong because the american administration is asking for a week for a humanitarian pause and it still hasn't come despite antony blinken's visit here over

the past weekend. the language does sound a bit different. i imagine the prospect of a few hours and pausing of a few hours here and there might be something that mr. netanyahu is prepared to do. that, of course, would allow civilians to get out and aid to get in. i was speaking to a senior u.n. official here earlier today and he said at the least they need a series of pauses of quite a few hours each in order to make any difference at all for the people of gaza. the border fence is just about a mile or so behind us. beyond that is gaza city. we have seen over the course of today and through the night last night where we were sleeping, we could hear the warfare on going and air strikes and artillery from this side and gunfire which shows it is not just from the air, but on the ground now with the israeli operation is ongoing

and moving south and circling gaza city itself. >> it is fascinating to hear the different words being used and importance placed on them from cease-fire to humanitarian pause to tactical pause. why is that difference so important to benjamin netanyahu? what is the big distinction? >> reporter: great question. officially a cease-fire, as i say, is political because it gives the two sides the space to negotiate some sort of permanent cessation in violence. that is not on the cards at all because the americans, the british, the european government all believe a cease-fire would only benefit hamas. it would maintain the status quo. they would rearm and all over again in a few years time in the same position. israel has been clear because of the 7th of october, hamas needs

to be completely destroyed and removed. they have not explained how on earth they do that because there is not just a military force. it is an ideology as well. tactical pause is humanitarian in nature. there is no political negotiations. it is stopping for a period of time so the southern border of egypt and the crossing here can be opened to get aid in and people from egypt to get out. >> mark, i appreciate you taking the time to explain what may be obvious to some, but important distinction. mark stone from sky news reporting from israel. we will take a quick break. let's look at markets and see where things stand. we are two hours into the trading session. a mixed picture in europe. some out performance in switzerland and italy and spain. switzerland and italy and spain. th meet the portable blendere f performing. we'll be right back.

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forecast for the year saying the switch console continues to drew draw in gamers. it has seen a release of zelda and tears of the kingdom and super mario film in theaters. arabile, this is benefitting. the mario film is a huge success. i know you are our tech correspondent, but gamer. >> a lot of the concern from investors was that nintendo switch in the seventh year, has peaked. they need a new console to revive sales. in the super mario brothers film comes along and that got people back into nintendo with mario. the second most popular game in the current fiscal game is mario kart 8. that game came out in 2017. people are buying an older console, but old mario games and

buying whatever new games. nintendo is able to get the hardware to them and buying the software and raising their forecast for profit and for revenue in the current fiscal year. they raised outlook for the number of games they are expected to sell. 285 million units. there's a lot of positives and a halo effect felt by nintendo thanks to the mario film and the legend of zelda which is the top selling game for the company. >> what is the deal with the new console? >> a lot of speculation about whether they will launch one. the fact that the mario film and the zelda games have breathed new life has given them time. there were thoughts that if sales did not go the way they expected this year, they could release one in time for the holiday quarter. that doesn't look like it will happen at this point in time. this might buy them time to push

out to next year. if they can ride this wave and beat expectations this year and bring out a new console to boost sales, that is a good thing for investors. >> arjun, thank you. let's look at u.s. futures and the the wall street session after another positive session yesterday building on the gains from last week. we will see a retreat at the open today. the dow jones industrial average looking to pull back 90 points. nasdaq back 30 and s&p at 11. you have the u.s. trade balance to look for in the month of september and fed speak is in focus today. that is it for "street signs." i'm julianna tatelbaum. "worldwide exchange" is coming up next. introducing the limited edition disney collection from blendjet. nine exciting designs your whole family will adore blendjet 2 is portable, which means you can blend up nutritious smoothies,

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it is 5:00 a.m. here at cnbc global headquarters. here is the "five@5." we're taking a pass. stocks looking to take a pause after the rally yesterday. and one fed head is going to the record in favor of overtightening. loo look at what australia just did? and wework files for bankruptcy. and ubs swings to the first quarterly loss since 2017. later, the bond market rally helping on