we have news on anglo american. as we heard earlier on from jesse, the worst kept secret -- the dividend has been suspended, the second half of 2015 and 2016. there also making an announcement on the structure of the business. jonathan: i think this is interesting, consolidating the business from six businesses to three businesses. i think the dividend news wasn't really the news. the disposals and the consolidation, there is little bit of extra news. let's bring in michael metcalfe. us, karen hodgson. welcome to tv. what do you make of the dividend news and the consolidation news, the idea that you streamline the business more and increase the disposal target? >> as you say, the dividend was probably one of the worst kept secrets in the city. the best case scenario investors could've hoped for was a conversion to a payout ratio. that's gone. that's going to save a significant amount of money for the business. the restructuring is definitely in response to the commodities outlook at this moment. considered sale is s

at least not the concern that anglo american had. face could anglo american liquidity concerns?the ability to continue is a concern? do they have the same concern when it comes to cash? thomas: they have a lot less debt and they have good liquidity so they do not have the same short-term concerns. mark: does -- have the support of shareholders? down 80% since he joined. that is not a record you would be proud of. but he inherited an incredibly difficult operation. he was brought in to try to fix things. i think he will get more time to do that. mark: good to see you. thomas biesheuvel. 10 biggestf the decliners on the ftse today were commodities. it is a heavy index when it comes to mining companies. betty: in the u.s., industrials are the worst performers right now on the s&p followed by energy and materials. the dow is still down by 139 points. we are 100 points better then we were at the local of the session earlier this morning, so we are recovering. market.s a volatile i have abigail doolittle here on the company movers. abigail: we are seeing a recovery here at the nasdaq.

anglo for takeover potential? what about buying debeers, selling off -- i think there will be people assessing it. it is a good scenario. it's not necessarily what angle wants, but it would work. jonathan: you spoke to mark over the summer. they said it would be rough and he nailed it. here is an amendment that knew it would be rough but still had to cut the dividend. my question is this. he wants of income. it was there in energy and it is still. the miners are facing the pressure of the dividend. where is the bottom for you? when do you start thinking about a long-term horizon? that's pretty long-term. you can probably start trying to layer it now. you're never going to be able to find the bottom of these things to the day, and what we are seeing is that the pain is now widespread. 60%-70% for the year, as the world is still going to need iron ore. we are still going to want gold and copper. these are the companies that will produce it. under any but don't circumstances go all in now. bit in now, bit in in a cou

anna: interesting to see what anglo america has to say.some of the mining companies clinging to there's another saying they have reduce them overall. in contrast to the oil sector where they have clung to them. let's get the bloomberg first word news with nejra cehic. imports slump extended to a record 13 months and exports fell for a fifth straight month. the import slowdown means that china's industrial class need a less iron ore and coal while consumer demand has not picked up fast enough to compensate. brent crude has rebounded slightly after plunging yesterday to a six-year low. it comes amid speculation that the global glut will continue after expanding its strategy to limit output control prices. abenomics has received a shot and the arm. the economy actually grew 1.3% rather than shrinking 0.8% as a preliminary figure suggested. donald trump has called for a total and complete shutdown of muslims entering the united states. the sweeping statement has run harsh rebukes from democrats and republicans alike. mr. trump: donald trump is

francine: how do they compare with anglo american?t the moment they are neck and neck for worst performer on the ftse. >> with anglo american, you don't stumble on a black box. you don't have a lot of transparency about how this is generating more than your margin. who are your clients question mark what are your revenues? they are attached to a commodity trading enterprise, whereas anglo american is a particularly integrated, widespread company, where at least you can recognize the value, you can attach value. i would say that when it comes to anglo american, it will certainly struggle in the next six months. ultimately, as they continue to cut not only them but the supply continues to reduce, the prices are moving because of excessive supply, it's not falling off a cliff but the supply has to be strong. supply will reduce. be lookingcan should back in time and smiling. francine: pau, thank you so much. the chief investment officer at london capital. next, the rams rocked. the south african currency suffers its worst day in years aft

. >> anglo american unveiling a radical restructuring. suspending it's dividend in a bid to cut down on cost. shares sink to a record low. >> up roar over comments from donald trump. the republican presidential candidate called for a total and complete shutdown of muslims entering the united states. >> a financial crisis all star cast for pimco. they name their advisory board. okay let's check in on european markets. volatile session yesterday on wall street. we were down 200 points. one point for the dow jones industrials managing decline just lower. today we're looking at losses across the board. ftse 100 is down by a quarter and cac 40 suffering losses as well. here's the lead, disappointing chinese export numbers which will go through in just a bit being lead by a lot of the big mining shares with the collapse that we're looking at in prices and other commodities. here you go, lost 1% and also lower by close to 2% and u.s. futures are looking like this after a decline across the major benchmarks today. we are lower. the dow jones indu

finally, from six divisions, anglo american will now be made up of three.beers for diamonds, plan onal metals for mondays metals, and both commodities for: iron or. closeice of platinum drop to 30% in the last year. the commodities sector as a .hole has fully to 16-year lows analysts say some companies are now at risk of default due to growing debt. anglo american is taking drastic steps to avoid that scenario, but if prices remain at such low levels, it may not be enough. markus: ok, we have already shown you a snapshot of energy markets could let's bring you up-to-date with the stock markets this hour. in the united states from we are seeing shares generally trading to the downside to weaker trading data from china is putting pressure on shares stateside. if we look away from the oil and the mining sectors for just a moment. withasdaq has been trying biotech shares in particular trading a little bit higher, dragging the nasdaq ever so slightly above the flatline. earlier, indices close to sharply negative territory. we also saw the energy-related shares c

anglo-american warned profits will be down at least 20% this year. joining swiss miner glencore among the worst stock performers in the uk lately. both down more than 70% on the year. these are stunning drops especially when taken on top of the fall in energy prices. s&p 500 energy companies just energy have given back almost $360 billion in market cap this year. but energy is not the whole story. >> the infrastructure got built out to try to satisfy china's what was seen as almost insatiable demand. if they can come back, these commodities will come back. for now we're flat on our backs. >> producers are in trouble well. 15 of the 19 core commodities in the thompson reuters global commodities index are down this year. the only positives are agriculture related sugar, cotton, orange juice, and coco. anglo-american says it expects to continue digging for metals such as copper, bulk materials like coal and iron ore and diamonds. but demand is down in all of these businesses. and so are jobs. here in the united states, despite its somewhat healthier tha

anglo move on the dividend. where is the line in the sand?re is the line in the sand for the dividend at rio and bhp? >> they're going to want to set themselves apart. they are a lower cost reducer and slightly better focused and the commodities. they are a safer place for investment. anglo is more diversified. it carries more risk. with that, more opportunities. more exposure in south africa. are we organizing that portfolio. it looks like a better company. glencore announcing new financial targets as part of its business update today. their cutting debt targets. it has been a brutal week in the markets. have they done enough? >> investors clearly liking these new goals for debt reduction. in a statement earlier today, they said they intend to cut that to 19 billion. that will be the net debt burden at the end of 2016. debt stands at 30 billion, which is more than anyone else has the industry. the other thing we learned was how they will achieve that. one point 2 billion getting parroted back from the gear. we spoke a lot about assets. the p

as anglo american disseminated its news, oil quickly dropped a buck and change. it was looking 36, another house of pain day for the gigantic energy complex on tap. then two stories that really threw me. toll brothers reports, some excellent housing commentary about how the best is yet to come, more homes to be bought. these guys were positive during the great recession. what happens? the stock starts getting beaten down before the opening bell. i mean, it sold down big time, finishing off 7%. what does that say about owning housing stocks go into a fed tightening? how about nothing good? second, southwest air. best of breed. jeez. comes out with some terrific traffic numbers. o ooh, maybe the airlines are the place to be. flip side, more discounting because competition is heating up. remember, we like the airlines because of lower oil prices and less competition. but we hate the airlines because of discounting and vicious competition. we've seen that movie before, we know how bad that can be. right now the hate is trumping the love. stocks got knocked down big b

it will just be anglos. -- won't just be anglos. we know a certain amount of it already. that the dividend is cut. they will go for a slightly different sort of dividend policy going forward. >> on the other side, you have the likes of bhb with a much more lower castoffs. in terms of iron ore. anglo move on the dividend, where is the line in the sand? >> they are going to want to set themselves apart. they are a lower cost producer and are better focused in commodities. they are a safer place for investment. anglos is more diversified and carries more risk. with that, there are more opportunities. you have more exposure to south africa. there is a lot less about that used to be. i think mark has done an amazing job here it looks like a better company. ♪ >> glencoe announcing new financial targets. parts it is business updates today they are cutting debt targets. it has been a brutal week in the markets. they fell short. haven't done enough to turn this story around? >> investors clearly liking these new goals for debt reductions. in a statement, glencore said they intend

. >>> hitting rock bottom, the mining company anglo american announces plans to cut 85,000 jobs from global work force. ♪ >>> hello there. thank you for joining us. the united states has announced plans for an international summit on the war in syria. it will be held in new york next week. the u.s. secretary of state announced the meeting alongside united nations secretary general ban ki-moon in paris. >> we specifically talked about the process taking place now, and depending on the outcome of both the saudi-lead conference of the opposition, that is taking place in the next days, as well as a few other issues, it's our plan to try to attend -- to have a meeting in new york on the 18th of december. >> as john kerry mentioned syria opposition groups are gathering in saudi arabia. more than a hundred delegates from dozens of rebel groups and political factions are are coming together for the summit. which should shape the base for the talks in new york next week. all of this comes as a result shows the number of foreign fighters traveling to syria has more than doubled. there were an

anglo move on the dividend, where is the line in the sand?re going to want to set themselves apart. they are a lower cost producer and are better focused in commodities. they are a safer place for investment. anglos is more diversified and carries more risk. with that, there are more opportunities. you have more exposure to south africa. there is a lot less about that used to be. i think mark has done an amazing job here it looks like a better company. ♪ >> glencoe announcing new financial targets. as part of its business updates today, they are cutting debt targets. it has been a brutal week in the markets. they fell short. haven't done enough to turn this story around? >> investors clearly liking these new goals for debt reductions. in a statement, glencore said they intend to cut debt to about $18 billion to $19 billion. the previous was in the low 20's. glencore's debt right now stands at $30 billion, which is more than anybody has in the entire industry. we learned how they are going to achieve that. a cut in cap x to the tune of $1.2 bi

let's talk about what anglo american is doing. i mentioned some layoffs.hose were fairly dramatic. onent to focus on priority -- assets, as they call them. what are their priority one assets? ken: let's set the stage first. when it comes to commodities -- and we look at the date all day long -- the plane has landed and it has landed hard and there was debris all over the runway, the shoots are deployed. it is absolutely the hardest of hard landings that has occurred in china. anglo is looking at prices that .re down 60%-70% share prices are down 70%. they are taking drastic action. very much like the gold space. with their thought process is, big picture, is that they have a lot of assets, a lot of people -- let's get back to core. we won't tell you everything right away, but we are going to go out there and say, let's cut , cut down ourhalf people to what we do well to save the business. right now, they are trying to save the business. it will be interesting if other companies come to the same realization soon. david: i want to play a bit of tape from feb

we have seen anglo american crushed.ay, but on the news it is spending its dividend because of a horribly depressing commodities market, it is actually up in the premarket and morgan is now turn around. david: we look forward to the answer. a few months ago, meredith whitney is now overseen equities bermuda-based and arch capital. mac abelson joins us now. it is quite a saga. tell us about the new gate. >> last year, we were talking because she was starting her own hedge fund it was a big deal. were looking great but it did not end well for the hedge fund. ago, she said the chapter in her life was closing and known was quite sure what she would do instead here we this -- she is at that is true. that was actually a clue that help me put this together. she does live there. she will be overseeing a portfolio and managing the managers. you have got jpmorgan and blackrock, equities. stephanie: hold on. if she is managing the managers, then she is not managing any money. >> it sounds like it will be something slightly more gla

right now, betty, it is wrestling with anglo american to be the worst stock on the ftse 100 this year. 74%. american is down by betty, that is one race you do not want to win in 2015. betty: indeed. we will check back on the markets of course, but we first wordck on the news. david? david: a protest over the killing off a black teenager by a white police officer and the city handling of the investigation in chicago. critics are calling for mayor rahm emanuel to resign, saying he withheld video showing the killing for months. liberty university in the genia is ending a ban on guns in student dormitories. the school president jerry wealth -- jerry falwell junior, says that students requested the change. ban ki-moon says he is reasonably optimistic there will be in agreement in the climate change talks. the proposed deal would require all countries to pitch in to cut emissions. beijing lifted the red alert and post two ago because of smog. schools reopened. they eased traffic restrictions. they are getting a loan from the -- asianvelopment .evelopment bank outgoing president christine fe

american. -- had at glencore and anglo american.igher in johannesburg. ryan chilcote has the details. they are out of the gate pretty quickly. what is mr. gleason burke saying? >> they got the statement at six clock as opposed to 7:00 and we got a presentation. it is all about cutting debt. the previous target for the next year is to get the debt down to the low 20's. right now it is at the low 30's, the biggest debt burden in the industry. the new target is aching billion to $19 billion. to $19et's $18 billion billion. they have secured $8.7 billion of that. there planning on cutting -- they are planning on cutting capex. you get another $1.5 billion there. for assetus target sales was $2 billion. is $4 billion. you have $3.5 billion in additional savings that they are hoping to generate. that is the news. guy: incredible action this week. the anglo coming up and saying are going to take more aggressive action. these guys are worried. investors are taking a beating. if you have fresh cash to put the work, is it still too early? dan

anglo america said it would cut 85,000 job. four of its coal mines are up for sale. andrew thomas has more from sydney. >> the trouble for australia is the prices tumbled for just about everything the country pulls out of the ground. iron ore around $40 a tonne. liquified gas, and the oil price and the price of coal fell by half in two years. it's not clear how many of the jobs anglo america is cutting will go in australia. many will. they will not just be at the coalface, it and other mining companies employ a lot of white collar staff in the big cities, perth, brisbane and here in the commercial capital of australia. there are managers, accountants and lawyers in the building behind me, all nervous. thousands have been made redundant. another big company announced that it was cutting four fifth of the have beens, anothers couple of run dread lo. there. chevron cutting jobs, many in perth. australia is not reliant on mining, it has a diversified economy. the dollar sunk two since friday, and has fallen 40% against the u.s. dollar since 2011. all of this hits confide

alex: how it all went so wrong for anglo american. scarlet: we begin with the stock slumping.e index is tech was the worst performer. if you look at the nasdaq off by 1.5%. the tech index, down 1.5%. remember, but this in perspective. tech has been the best performer in the second half of the year. todayech a got slammed and on the other hand, some energy stocks going up. so a big reversal. that dellthis news chemicals and duponte were getting together. alex: but it fell off. speaks tote really the selloff. it is adding to the dow right now, so things would have been worse if they had not been rallying. and when you look at some of the tech movers, apple really stood out to me. an 18 point decline, said they one of the streaming tv service, but it did not feel like there was a real catalyst today. if the like yesterday was the catalyst with china's trade data. joe: another thing, the dollar got slammed against everyone. the british pound went to back atabove $1.51, the euro $1.10. that was part of the action. a big rally in commoditie

mining stocks hit hard, anglo americans spends the dividend. europe taking the queue from china and japan, the big story today, oil below 37 for the first time since '09. oil down 15% since the opec meeting. our road map begins with oil hitting seven year lows. >> we have news on the m&a front. the latest on deals that may or may not happen. >> and chipotle down another 5% pre-market, dragging that stock down nearly 20% so far this year. the latest on the company's e. coli outbreak. futures moving lower following monday's stock market decline. november data showing chinese exports fell for a fifth consecutive month. we've seen wti fall below 37 for the first time since early '09. shares of mining companies taking a hit after anglo american announced plans to cut jobs as part of restructuring. rio tinto said it will cut cap x in '16. it's all over today. >> rio is off 39, valet, 69%. when you slash 85,000 jobs out of 135,000, what does that say about the amount of equipment you'll spend? what does it say about the ancillary companies related to

very candid about their preference in northern western europeans, anglo-saxon country and we need to keep it that way. this is how couple unique things about that moment when the law is approved by congress. 55 denigration and got a larger share, the main opposition to the civil rights act, voting rights act and immigration act aimed at southern democrats and at that time there were more liberal republicans in congress than they are in state. the still there was opposition to it and this is an interesting story and an important one, the chairman of the house immigration subcommittee was basically allied with these conservative groups who were opposed, and 4 months refuse to hold hearings on president johnson's bill and president johnson, very direct pressure on him and after a scary primary race in his district, only then that he agreed on this bill but he agreed to support the bill only after getting a really important to him in change. president johnson, the senator from michigan, bill hart, but originally proposed that the main preference categories should be those who have skills

. >>> still to come on al jazeera, hitting rock bottom, the mining company anglo american announces plans,000 jobs from its global work force. >>> and the tiny arbeeian island that is making giant leaps to becoming completely self-sufficient for energy. ♪ >> every monday night. >> i lived that character. >> go one on one with america's movers and shakers. >> we will be able to see change. >> gripping... inspiring... entertaining. "talk to al jazeera". monday, 6:00 eastern. only on al jazeera america. ♪ >>> hello, a reminder of the top stories on al jazeera. the united states has announced plans for all of the countries involved in the syrian peace process to meet next friday in new york. >>> turkey is to stop deploying troops to northern iraq, but is refusing to withdraw forces that are already there. >>> and donald trump has sparked international fury after calling for a complete ban on muslims entering america. >>> let's get more now on those efforts to end the war in syria, as we have mentioned more than 100 delegates from the various factions in the syrian opposition are gathering in

there's not a day that goes by that some of my latin friends or jewish friends, anglo friends that sayhat can we do. it's more politician who is are voled by the special interest groups they are putting money into their pockets. those are the ones that try to create the diversion and separation of our town, but we have some great people here in miami and the people want one miami. i think that's going to be my slogan, one miami. >> host: you talk about the explicit lyrics on cd's, you're partially responsible. it wasn't put on until white kids started buying hip-hop music. >> guest: i had to figure why i was going through all the -- i started thinking about it. hip-hop has been wrong. it's crossing over and rock and roll is being phased out. a lot of white kids are listening to the music and that's when controversy came. that's when ice t we ended up in al gore's wife, top 10 of bad guys. at the time i figured that it was all about. it was all about white kids getting the music, but when i looked at it i said, this is important to fight for this because white kid should listen to strug

we saw with anglo american the other day, they announced this radical transformation.he investors said it was not enough. guy: thank you, ryan. remember, the senior independent executive director at bloomberg. , we have aon set senior analyst. >> good morning. guy: have they done enough this morning? reporter: they are taking decisive action here. they are taking unprofitable par ts out of the business. they are removing negative free cash flow from the business and therefore, protecting the balance sheet. the conviction on where commodity prices are going is very low at the moment. they are responding to market conditions. billion is still a big number one it comes to the debt. >> it is a big number, but it is manageable. $7.7 billion is well above what most in the market were expecting. that has a very big impact on the credit metrics. will they be able to successfully extend their credit rating? that number suggests the credit rating has improved. guy: to have any idea how the trading businesses are forming? >> they have reiterated that they are up $2.5 billion, whi

it is a big week for the minors, both glencore and anglo american.hey have last-ditch plans to protect their economies. the hsbc is still alongside us, along with the chief correspondent for bloomberg. prices: aredity plunging. think about automakers globally. they are enjoying some of their lowest prices. it almost a decade, that is. tsey are making more profis because commodity prices have come down. it is going to take a bit of time before they benefit fully. as we go into the new year, the full benefit of lower commodity prices will become apparent for big industrial consumers. ultimately, the consumer, which will be the interesting angle. javier: that is what i don't know. will those companies put bonuses and increase their pml? maybe a little bit of both. the economy is low. weakness in consumer demand, mab ye they need to give consumers happy. watching people are this program in the u.k. are finally chairing. e is anyjor, if there pushback going into 2016, will they move for you? steve: there's a bit more focus on inflation than bonds. people

we saw the same yesterday from anglo american. day i'm talking to traders and i keep saying, do you think we will see more cuts very what we're hearing now is that i would not be shocked anymore. is that dividend no safe? >> investors care more about the cash they have than the cash they are giving away. the more companies that have been giving away a dividend and will now have to pull things in for 2016 and 2017, and make sure they're paying back debt. it's hard to believe these guys would not in the longer see these as something they could not take off the table. in dramaticescribed affect what this commodities contraction has looked like. when you look at freeport-mcmoran, what are the difficulties this company faces? theou go back in time, freeport-mcmoran problem came when they merged with her oil and gas business. an amazingmoran has mine in indonesia, and unbelievable asset. they have some great assets. they were worried that bhp or rio tinto would buy them. at the time, oil was over $100 and they thought everything would b

anglo has been hit hard by the slumping commodities.he company will suspend dividends for the second half of this year and all of 2016. the four today, shares had fallen 69%. -- before today. oil is trading near its nose level -- its lowest level in 16 years. under speculation that it global oil what will process. opec has given up a strategy of limiting output to control prices. and it turns out that japan's economy has actually avoided a recession. revised figures show the japanese economy expanded in the third quarter. government of prime minister shinzo abe is expected to come up with extra fiscal spending packages this months. that is the bloomberg business flash. guy: thanks very much. let's turn to energy and its impact on the climate. talks in paris on climate change are in their second win. efforts to curb greenhouse gases are getting a boost. caroline hyde is in paris for the cop 21 summit. schneider electric ceo joining her. over to you. caroline: jean-pascale tricoire joining me, ceo of schneider electric. barclays tell us y

. >> maria: i think this anglo-american cutting jobs is totally within this whole story that we havelking about. the collapse in mining and manufacturing and the industrial side. >> keith: a lot of people continue to say that it's different this time. if you look at the three indicators of recession, when phil said leading indicators are crashing price, if you get a crashing price and your company is hostage to crashing price, you have slowing profits. if they slow is top leading indicators for recession. the next thing that happens is that people get fired. once they get fired, they lose consumer confidence. when you lose your job you're less confident and you start spending less. a vicious cycle. in other words, what's happening is leading you to what's happening. >> maria: of course, not. >> dagen: this feels like the internet bubble and also feels like the financial crisis in some way. people have recommended these companies all the way -- best and breed. dominators and you see them falling. the only problem with this is more like banking in some way because this is a leverage bu

anglos is more diversified and carries more risk. with that, there are more opportunities.more exposure to south africa. think mark is done an amazing job here it looks like a better company. announcing new financial targets. they are cutting debt targets. week in thea brutal markets. >> investors clearly liking these new goals for debt reductions. saidstatement, glencore $18 billion to $19 billion. the previous was in the low 20's. glencore's debt right now stands more thanlion, is anybody has in the entire industry. tolearned how they are going achieve that. $1.2 billion getting. back. the previousles, target was to raise about $2 billion in asset sales. today, in a presentation, they want to raise $4 billion. >> you wonder how he has held hostage with the demand side of this story. there is a plot that is out of his control, isn't there? >> yes. in the presentation, glencore made it clear that they will cut production and cut costs further if necessary. shares of chipotle falling yet again. the mexican food chain closing a restaurant in boston after dozens of students go

the worst, anglo-american, down 73%. it has been fighting for that position before. theou say, because of travels best trials miners facing the best performer, you might not have heard of it. fingerprint cards. up 1300%. this year. this is a swedish company that makes biometric technology. it has been getting more popular. just onelowed by analyst and even the analyst doesn't recommend buying the shares. maybe you have one that one already. perspective where you should be putting equities. given what wegly, have discussed, we think european stocks are probably the most underpriced. pricing,ptions, market is one of a prolonged cycle. there is ongoing expansion. time, come for the first we would like stocks on hedge. >> are there industries you would stay away from? >> we don't think the export sector is of particular interest. the openness of the european economy. , one of thetors biggest negative intruders to growth. very good opportunities. caroline: the euro stock index up four times as much. smaller stocks have over performed those that have provided a drag. is th

that's the risk at this moment in time that has been reflected in the price today. >> anglo american president had this to say: >> the reorganization to remedy this is brutal. when done they're left with a very different company. al jazeera, london. >> the south africa athlete oscar pistorious will be sentenced for murder. last week the supreme court changed its conviction from cuppible homicide to murder. he'll remain under house arrest until sentencing next year. >>> nigerian troops in what they call a final push to end the six-year fight against boko haram in the north. it comes in a stronghold days after 900 ha 900 hostages were freed. >> after boko haram captivity they're finally free. these are some of the 900 hostages mainly women and children, who have been freed after days of fighting between boko haram and regional forces near cameroon's border with nigeria. >> i come from nigeria. i was taken on my way to my village. i was then put into a prison. >> soon he and others will be on their way home. >> we received strict instructions to support them, to repatriate them to their

anglo american is on watch for junk warning. how much worse can it get for these guys?looking at bankruptcies of major commodity companies? >> it's possible. glencore is potentially walking a line on that. in many respects, they are hostages to what happens in the market. if the commodity cycle continues the way that it has, prices remain low or become even lower, then bankruptcy or a major restructuring is a realistic possibility. scarlet: that brings us to the bigger question, which is that everyone is waiting for capitulation in the global commodities market. what does it look like? will we know it when we see it? >> if by capitulation you mean is anybody going to cut output, the shale plays in the united states will reduce output. down and some of that output will decline in 2016-2017. but if you look at the major producers, they don't have an economic incentive to cut output. if you look at their market be a, it would basically revenue losing cost position for individual companies, even as big a saudi arabia are russia, to cut output. they will continue to produce.

. >> anglo american says it will reduce it's work force by 70% in a radical overhaul that also sees the miners scrap it's dividend sending shares to record lows. >> up roar over comments from donald trump. the republican presidential candidate calls for a total and complete shutdown of muslims entering the united states. >> most valuable player, lebron james signs a lifetime deal with nike in what could be the biggest single athlete guarentee in the company's history. >> good morning. we just got the second print of 3rd quarter gdp for the euro zone and it was confirmed at 0.3%. it was a slow down from the previous quarter but 0.3% on the quarter and unrevised number at 1.6%. >> let's check in on toll brothers. looks like net when it comes to q-4. $147 million. when it comes to revenue we have revenue per share at 80 cents a piece at this point and looks like the share outlook for the forward guidance and also looking at 144. that's a total revenue number for the fourth quarter which is in line with expectations. 83 cents a piece or so. let's check in on u.s. futures because yesterday i

as well.s rebounded i have to show you anglo american, yesterday that was a big story, sinking 12% andutting two thirds of the workforce. downe stage today, it was 14%, a two day plunge of 26%. look at that, down by a mere 1%. saved by the bell. a rebound in minors and oil stocks. to call theough bottom for oil and commodities? mark barton, only a fool would call a bottom in any kind of commodity, metal or liquid or anything anywhere. a mr. hydeing about bounce. let's talk about dr. jekyll. the stagecoach group. it runs bus services. what's going on? stagecoach is a bus company and a real company. it operates mega bus in the you knighted states -- in the united states. its biggest decline in four years. this is because of flooding and the paris attacks as well. curbing demand on international routes. twoailed on its bid to run rail franchises here. two questions. are you a traveler? are you a wanderer? have you traveled on mega bus? brendan: we have a chance to talk about rail in the u.k., that makes my two thomas the tank engine sons mad with glee. i was a bus rider. now we will check

the worst performer on the stock 600 was the anglo american. it went down 76%.iners have suffered this year because of the commodity route. swiss franc was the best performer out of 16 major currencies. the best performer in terms of return is cocoa. the worst performer is nickel. cocoa mightam sure get a bit of a boost over christmas. societe generale is still here. give us your premonition. is latin america going to be feeling the pain? kit: i am not sure we finished the commodity downturn. generally, one of the problems is it is the number of countries where the currency has gone down as the price of its main export has gone down. the domestic currency revenues held up. commodities,ot here is one example. the demand for china is not coming back next year to the degree it was if we don't get supply taken out of the market. there is a recipe for at least one more nasty overshoot if we are not lucky. watch out for the aussie dollar and some of these latin american currencies. kit: brazil might have fallen. brazil has the loss of politics an economyough and that

the worst performer has been anglo-american. it has been fighting for that position with glencore.t has been really struggling. we've seen it cut jobs, cut the dividend. guy: the wooden spoon. is there any way in which u.s. stocks go up next year? i struggle to see that they are going to produce significant returns. the big question everybody is trying to figure out. there is a nervousness regarding whether you should belong europe. >> there are strong headwinds for the u.s.. we let frothy levels in silicon valley. that looks quite fragile. secondly, we've got a very big political risk. the first three months of the year, we will know whether trump is going to be leading the republicans probably to a catastrophic defeat or whether there's going to be another candidate and a prospect of serious political change. that's going to be a big uncertainty. guy: if you were to pick a number, is it plus 5%, -5%? think we are talking about -20% or -30 present. the reason for saying that is what is going on in the high-yield credit market. the high-yield credit market which deflated considerab

the ceo of anglo american going through a tough time. here's caroline.sell 350,000 of its new previous -- toyota expects to sell 350,000 of its new previous is per year. within 3.5 million have been sold since they debuted 18 years ago. apple is suspending plans for a live net tv service. media companies wanted more money for programming. sources say apple will focus instead on connecting media companies to consumers through its app store. sometter experiment leaves users scratching their heads. instead of posting the most recent tweets first, twitter is trying to show the most relevant posts at the top in social media world are overwhelmingly negative. that is the bloomberg business flash. they are insane. i have been dealing with that personally. they are flat out wrong on this. i will editorialize and say, twitter, you are not facebook and that is an advantage. give my opinion there? i believe i did. scott galloway is at new york university and a few months ago made worldwide headlines on "bloomberg surveillance," scathing in his criticism of the ceo

coal anglo is the sixers chairman of basketball operations. >> although it happened quick, you know, in some ways his availability caught me off guard. this is a good thing. he's a hell of a resource and a hell of a coach. >> i don't know 23 you've seen this. an upset on elie day, the wife of jason day. she was run over by lebron james last night. no fault of his. she was released with a concussion, tweeting with it was really scary and comparing it to being hit by a truck. that is it for sports. we'll be right back. . >>> lot of people been asking for cooler air so it would feel like the holidays. you got it. >> yeah, but you're not used to it. even hoe the numbers are not that low, our bodies aren't used to it. so it will feel a whole lot colder. the wind will make it feel like it's in the 20s most of the day. >> by christmas, it will feel like florida again. >> yeah. 70. >> the news continues now with nbc night lid news with lester ho holt. >>> breaking news tonight. a party war erupting. bernie sanders, hillary clinton and a major fight over alleged snooping into secret files. on

anglo american earlier this week.re saying we will have to do whatever we can to/debt -- to slash debt. there is a lot of pessimism about chinese demand and that is why people are gloomy. will, great to see. betty: let's go into stocks and how u.s. stocks are trading right now. we are pretty much near lows of the session. just a note on the s&p. we are counting 26 sessions without back-to-back gains. the record was 28 days back in 1970. it looks like we might be hitting another record, but not one that is good for the bulge. i want to get a abigail doolittle. she is live from the nasdaq. abigail: stocks are certainly lower at the nasdaq. the index is off 1.5% at this time. one winner is adobe systems. shares are higher after to the top fourth-quarter profit estimates as a sign of new customers for their cloud-based services. lots of raised price targets out there. ross mcmillan now has a street , suggesting a 112 good move higher by 17%. caution. shares are trading relatively expensive to the cost. they are priced to

if you want to know how difficult it is to be in the commodity business, anglo-american is in the bigommodity businesses. they're in the coal business, the platinum business, iron-ore business. they announce they're cutting their dividend. they're eliminating their dif depped at least for the time being and selling assets. the important thing here is they are in those businesses that are most affected. if you look at what they're doing here, about one-fourth of their business is the coal business. one-fourth is platinum. one-fourth is iron ore. the one bright spot is they are the biggest diamond producer in the world. even then in their commentary they said the diamond business is not doing that great, although some are in better shape than the others. three out of four of the businesses are in certainly a recession and arguably a depression. anything in that sector right now, of course, a terrible time. you saw that awful angelo-american chart. right now we're moving up here. we're only down 4 points. we could go positive in the next couple of minutes. >> first up this morning, repub

the anglo american mining company has announced a radical restructuring, cutting 85,000 jobs, one thirde than previously planned. have been trying to weather a steep slump in commodity prices that would also sell assets, suspend dividends, and consolidate their six business units. lebron james has signed a lifetime deal with nike, the first ever for the world's biggest sporting firm. the 31-year-old has signed a $90 million deal with nike for the past decade already. >> just to wrap up, there's a new idea from the u.s. postal service, to start scanning and e-mailing your snail mail. that's right, not the inside, but customers can have previews of their letters e-mailed to them first thing in the morning to show what's mating in your actual mailbox for your. they say the digital preview will be a big help for customers who are traveling or expecting an important letter. apparently the postal service has already been photographing the exterior of all the mail the passes to their office, saying it helps them sort out their mail, used by law enforcement agencies in criminal investigations.

in london, it is another bad day for the mining company anglo american, their shares down another 8% after massive job cuts. they are cutting some 85,000 jobs. mining seen it back in commies like h -- like bhp billiton. markets we are going to be watching closely in the coming hours is to do with yahoo! the search giant has abandoned plans to spin off its prized stake in the chinese e-commerce group alibaba. that is worth $32 billion. what had been planned, but due to competitions over the tax involved in that deal, they have had to abandon their plan to sell off that state. we are to see what the board is announcing about the return to the future of the business. stagecoach shares have plummeted 13%. the company wants mega bus -- -- thes services american gun maker smith & wesson this in its profits trickle in the three months until the end of october. sales were up by 32% over the same period. industry experts fear increased regulations of firearms in the united states is driving up gun sales. u.s. companies are in talks over a megamerger worth $120 billion. the deal would likely m

plans by anglo americans to make 85,000 workers redundant worldwide does not go well for an industry already under strain. it employs 72,000 in south africa but won't tell them what's happening in my the new year. >> we don't want to be caught by surprise, the we want to see for the company to save jobs. the unemployment rate in south africa is ating is the 25%. >> some predict in the short term up to 3500 local mining jobs are at risk another iron ore, platinum and copper sectors. >> i expect the mine industry to be in a more critical condition and with that comes the pressure of how labor is going to respond, how policy makers are going to respond. if we thought 2015 mining industry was hard, i do think 2016 mining industry is going to be impossible. >> metal prices are showing no sign of recovery from their lowest level in six years, as angelo americans review its upprofittable operations, there are concerns that the local mining industry will only suffer further. >> still to come here on al jazeera for you. kenyans set up with shady business call on the government to end corrupti