unlike abengoa, who has to build their own projects, abengoa only manages products that have been builteasier to monetize. abengoa is seeking to sell its stake there or find some other solution for it. they have been trying to do something for a few months already. now, it may come down to a buy or sell, which may not be ideal. anna: ok, thanks for joining us. up next on the program, all about the ecb. draghi needs to come up with something to surprise traders next week or risk a rebound in the euro. what are the options on the table? ♪ anna: welcome back. ." are watching "the pulse here are bloomberg top headlines. president obama told americans preparing for the thanksgiving holiday that there was no sign of a credible terror plot in the u.s. he added that the u.s. is stepping up security. >> right now, we know of no specific and credible intelligence indicating a plot on the homeland. let me remind the american people what our coalition is doing to destroy these terrorists. so far, our military and our partners have conducted more than 8000 airstrikes. those airstrikes have along wit

i think abengoa probably is a case in itself.is a story that has been unfolding over the last year or so. it does raise questions about spanish business conglomerates, many of which come from a family ownership background, which was the case with abengoa. it's a story about corporate governance, about overleveraged, about how these companies adapted to the modern world. i think there is a wider story in spain about that. there are many cases of ,amily-run companies in spain where probably some very hard questions should be asked about corporate governance. francine: -- manus: charles, thank you very much. cook,ne: shares in thomas we were looking at those before. the second-largest tour operator. the company swings into profit despite geopolitics. caroline hyde is here. manus: stock is up 10%. they made a profit for the first time in how many years? caroline: five years. let me remind you of the doldrums this company was in. managedgreen, who banking salvation for this company, they managed to extend their credit and cut costs an

this is the latest chapter in the agony of abengoa.en facing a real fight for survival all-year-old -- all year. isathan: i wonder if this just an isolated corporate story, or something much bigger. what does this tell you? charles: the issue with abengoa was concerned from investors about cash flow. accounting,s about it was a struggle all year for abengoa to convince investors it was generating enough cash. we had reported a nine-month loss earlier this month. in those earning statements, it did include a statement from deloitte which highlighted the concerns around the company. also its ability to continue operating. it has been a kind of long story, and agony for abengoa up to this point. jonathan: the to have you with us. what are we, but 47 minutes into the session? lots of stock stories this morning. >> i'm looking at some of the biggest movers, specifically some of the biggest gainers. awful terror attacks in paris we saw trouble companies hit. are someuble companies of the best performers of the stoxx 600. thomas cook is among

you chase yield in the periphery, you look at abengoa.in june, you thought you were buying the recovery trade on the periphery of eurozone. you go from 100 five cents down to $.12 on the euro. it tells you that in a risk on environment, you've got to look at what risk you are taking on and take more of a fundamental approach. jonathan: other people say these are very isolated stories. you put abengoa together with havewagen, who vcocould predicted that? simon: we are still positive in terms of credit markets generally. through, towards the historic lows on default rates. what it does tell you is that the debt risk can pop up in any location that you take your eye off the ball. there'sfor complacency. jonathan: you look at what's happening in sovereign debt and you wonder why people are chasing yield. the amounts of debt in the eurozone, with a negative yield. the ecb are chasing their tail. even if they cut by 10 basis points, they're not going to be able to buy. how much worse does that get? the policy is pushing these yields down. one t

abengoa teeters on the edge of being the biggest bankruptcy. guy: thank you.een talking about the emerging markets. let's carry on the conversation. despite a tough few years, he remains optimistic. we are bullish about the long-term fundamentals. there is no doubt in our mind to there will be a long-term demand for copper and other commodities. coal, iron ore, and so forth. we expect the volatility in copper prices to continue for the next 2-3 years. we have been saying we expect the market to go into a deficit situation as early as a couple years down the road. volatility will continue in the coming 2-3 years. we expect the market to move to situation. anna: caroline is here. ioroline: it seems the r head of copper says he is bullish. have a look at what is having to copper prices trading in asia. trading higher. this is on the back of reports that we could see chinese regulators start to investigate potential shortselling. bearish that's against metals on local exchanges. has, the metal association asked a key agency, the national development and reform com