and allianz a rare outperformer, thanks to a jump in quarterly revenues.m's cfo says he trusts bill gross to turn around the fund's performance. >> you're watching "worldwide exchange," bringing you business news from around the globe. >> if you've just woke p n up i the u.s., thanks for tuning in. here's how markets are faring. we're expecting a drop at the start of the trading session. the dow, the s&p 500 and the nasdaq are seen lower across the board. this is after the dow hit a three-month low yesterday. it's all about geopolitics. the s&p 500 clinging on to two-month lows and we're expecting volatility once again to increase in today's trading session. we're still deeply in the red, with one exception, the ftse mib in italy. xetra dax off by 0.9%. and the cac 40 at 4,131 points. >>> israel's military has confirmed it has resumed rocket fire into gaza, this after hamas fired several rockets towards the country as a three-day cease-fire came to an end. want to get out to our jim maceda, who joins us from tel aviv. who's to blame for those failed talks?

>> the chief economic advisor at allianz.e'll be back with more of against violence. >> i did something positive... >> have people lost hope? >> this is a grown man that shot a little kid. >> or have citizens made a difference? >> glad that somebody that's at least standing up and caring about us man... >> america tonight only on aljazeera america >>> welcome back to "consider this", i'm ali velshi in for por antonio mora. friday marks nine years since the largest hurricane touched down in new orleans. the storm displaced more than a million americans, causing 100 billion in property damage, and 1,800 lives were lost, including 1600 in louisiana. it wasn't a natural disasters, it was a tragic failure of leadership at every level of government, including f.e.m.a.'s response before and immediately following the storm. that mess turned into order when our next guess, you see him here, was called into action, to oversee the u.s. military's response. russell honora nick naked the category 5 general for bringing stability to the re

>> the chief economic advisor at allianz. we'll be back with more of "consider this". we're revolutionary because we're going back to doing best of storytelling. we have an ouportunity to really reach out and really talk to voices that we haven't heard before... i think al jazeera america is a watershed moment for american journalism >>> welcome back to "consider this", i'm ali velshi in for por antonio mora. friday marks nine years since the largest hurricane touched down in new orleans. the storm displaced more than a million americans, causing 100 billion in property damage, and 1,800 lives were lost, including 1600 in louisiana. it wasn't a natural disasters, it was a tragic failure of leadership at every level of government, including f.e.m.a.'s response before and immediately following the storm. that mess turned into order when our next guess, you see him here, was called into action, to oversee the u.s. military's response. russell honora nick naked the category 5 general for bringing stability to the region. retireme

a chief economic advisor to allianz sc. and chair of the president's global development counsel. good to have you here. >> thank you. >> the french government dissolved on monday after the economic minister resigned, insisting that austerity had gone too far, none for a left-leaning government to think about, but what does this tell us about austerity policiesias europe. do they... >> france and roourp more generally is searching desperately for the growth modelled. >> so basically whether it's france, whether it's what the european bank - europe needs... >> the problem across europe in most cases is slowing economies. i'm worried how we'll be. the economic powerhouse appears to be weakening. from. >> first we should worry, as you point out. germany slowed. the locomotive has slowed. if you look at the second quarterer. the three largest economies showed significant weakness. where does it come from, three sources where i want to grow. improving competitiveness, secondly, more action by the european bank, and thirdly you need to rebalance, which is another day of saying where the

to come to the conclusion that these vehicles were real have you ever had your own encounter with allianz. not encounter with aiden's no i have seen a u.f.o. about one hundred twenty miles north of toronto over lake muskoka where i have a cottage and two years ago last kate in the thanksgiving which is a tobar of my wife and i do so. much for very. little and she returned to the eastern states if there is a spare. i could read the other day mr things are much brighter than. i watched it until our next almost broke for about twenty minutes and it was it was definitely a u.f.o. because it could change position in the sky by three or four degrees in three or four seconds and i checked out there were no satellites that could do that the space station wasn't going by in a dozen is unable to move that fast anyway and there was nothing no other explanation of that except that it was the real thing and two days later i went down in the dark he got a comfortable chair and watched it came back almost of the same spot and entertainment for as long as i could take it and then i went back to the cotta

. >> mohamed el-erian at allianz. one merged tax strategy.urger in talks to buy tim horton, the canadian coffee and doughnut chain. if the deal goes through, the combined company would be headquartered in canada. another one of those so-called tax inversions, which could lower burger king's tax bill. both companies trade in the u.s. and both surged on the news of a possible deal. burger king shares rose 19.5%. tim horton's jumped about 19%. but sarah eisen reports there may be more to this proposed merger than just lower taxes. >> reporter: it doesn't get more all-american than the whopper. or maybe not. burger king may soon become canadian. the company confirming it's in talks to buy tim horton's, canadian coffee and doughnut chain. if the deal goes through, burger king would move its headquarters from miami to ontario, adding fuel to the debate in washington where companies, mostly in the health care sector, have been pursuing mergers and acquisitions outside the u.s. to take advantage of lower corporate taxes overseas. canada has a 15% cor

. -- allianz. profits rise by 11%. health and life insurance doing nicely. also have a small asset management business called pimco. issues. a few hey have been slowed down. >> president obama has authorized air strikes against militants in iraq. he said they would happen if they threatened u.s. personnel in the kurdish city. they also dropped splice to those threatened by the fighters. iraq ly in this week when cried to the world there is no one coming to help. today america is coming to help. we're consulting with other countries and the nations who have called for action to address this humanitarian crisis. >> israel says a cease-fire with hamas forces in gaza was violates hours before it was due to expire. after negotiations failed to reach a long-term deal. the recent conflict has left more han 1,800 palestinians and 60 israelis dead. ebola has been called an international public health emergency. these are live pictures from geneva. the w.h.o. said a coordinated international response deemed essential to stop the spread of the disease. china's trade su

expectations were that after buying 55% of europe's allianz, walgreens would move the headquarters to switzerland or the uk where corporate taxes are lower. while the firm is paying $15 billion in stock and cash for the rest of the european pharmacy, it will remain head quartered in illinois, where it exto pay a tax rate in the high 120% range. accounting expert estimates walgreens could have saved $2 billion in taxes over four years by rye domiciling overseas, but on a conference call, the ceo saying the board carefully reviewed doing a tax inversion, but decided it wasn't in the best interest of shareholders. >> while we fully understand and considered the significant finance benefits when weighed against the risks, the company and board decided it was not if the right course of action. >> democrats, including president obama are exploring ways to stop firms from inverting. while a walgreens spokesman said political risk factored into the decision, a bigger factor was whether the i.r.s. would have approved the inversion given the original deal to buy -- didn't call for it. the combi

up to brussels, then will either fly you straight to the united states or put you on another star allianz> i've done that. >> there are ways that a passenger can get from the infected area to the united states, which is why the cdc needs to be vigilant at all the major entrances. >> any airport in the united states that has an immigration facility could have somebody coming from this region. >> let's take the united flight, houston to lagos. let's ignore nigerinigeria's owe with ebola but talk about people coming from the infected countries into nigeria then joining a flight. the reality is it's got to be at the exit of the country, at the transfer country and at the arrival country at the final destination. all three have to be vigilant at least. >> richard quest, thank you very much. the fear is even with vigilance, it may not be detectable. part of what is causing such concern with this crisis. still "outfront" sergeant bowe bergdahl just finished being questioned by an army investigator about his time in captivity. the question we've all wanted to know the answer to. we've got details

allianz, big ensure, above expectations, despite the fact its pimco subsidiary, bill gross, outflowsthis main fund for 15 straight months now. the cfo was questioned by colleagues in europe today. he's stressing the fact they have effectively a new management team. six deputy chief investment officers as pimco who can challenge or are said to be challenging the macro bets that big gross makes. take a listen. >> -- external perception pimco is about bill gross and nothing else nap is the wrong perception. we have a really great team. look, there are more than 1.5 trillion u.s. dollars to be managed, and that is not done by a single person. >> in summary, guys, a rough week for europe. back to you. >> simon, thank you very much. >>> dow is now up some 80 points. keep our eye on that. meantime, today was supposed to be the day for alibaba's massive multibillion dollar i ipo. why that's good for the company. >>> and video platform vimeo taking a major shot at youtube today. the ceo will explain the move in a cnbc exclusive, next. i make a lot of purchases for my business. and i get a lot

sitting just off the highs and actually performed nicely along with allianz with -- i think they arerly valued. >> josh, you onboard with this? energy has a potential if not to retake that leadership role to at least resume some sort of positive momentum for the rest of the year? >> certainly could. you look at the ts and p sectors, reasonably priced equities and decent earnings growth, at least on the rise, energy shirns. rises above almost every other sector in that regard. it shines. ieo i mentioned. a core hold in my firm. recommended it to clients a couple of years. tends to do well in this environment because these are north american producers of energy assets, and that is exactly where the market gravitates towards when you get this kind of overseas energy-esque risk. we like the group, and we like that particular name. it gives us diversification across the whole sector. >> by the way, highlight in july josh did a great job.pointing out the potential correction in energy. spot-on. other names important to talk about for viewers now. jon mentions halliburton. slumber j worked

first up, walgreen, buying part of allianz, didn't already own, but decided a tax move over seas wouldot be in the best interests of shareholders. pete, how is paying a lower corporate tax rate not in the best interests of shareholders? >> i don't know. where's dick durbin from? illinois. where's the president originally from. illinois. a little influence going on there. a lot of that makes some sense. >> really? >> when you see reimbursement and connection they have with the government, a lot of that really does tell you why, maybe, they've been influenced. doesn't change the idea, though, some tay they might say the heck with it. we will invert in a different time. >> and when winds have cooled. made troerchs that specifically. derive a large part of revenues from government reimbursement programs. and also that they are perceived as an american icon. >> right. >> to the consumer. so don't want to invert and go overseas. >> great environment when sbis threatened. good. >> basically bullied. they're bullied by the political landscape. >> doesn't change the fact they could some day dec

. >> it includes the global business, allianz as well. down it is better than expected. they have confirmed that as well. the u.s. president has authorized airstrikes against militants in iraq and the humanitarian operation. >> today i authorized to operations in iraq. targeted air to protect american humanitariand a effort to save thousands of iraqis civilians who are trapped on a mountain without food and water, facing certain death. >> u.s. planes dropped supplies close to the syrian border. 50,000 people have been stranded there after advances by the militant islamic state. president obama says the u.s. will proceed with the strikes against islamic states if they moved toward the kurdish city of erbil. >> that is the geopolitical situation. let's move along in terms of markets. we are seeing equity markets come under pressure during asian trading. there are no airstrikes yet. just those humanitarian moves. futures are lower. we are seeing the s&p almost wiping out 2014 gains. they are below the 100 day moving average in the u.s. session. you mentionedets, how tough i