shipping is increasingly the only story at the ap moller-maersk. ore about that restructuring this morning. ap moller-maersk planning to separate its drilling unit into a listing on the nasdaq. previously this man, soren skou, the ceo of ap moller-maersk, had previously been talking about selling the business. they were not impressed with the bids they were getting for that driven business, so they have decided to list it on the nasdaq. they have sold 19.2 5 million shares in july. we will look for more details and we will also look for the numbers from ap moller-maersk coming through this morning. the world's biggest shipping company expected to put out its numbers. away from the restructuring story, spinning off parts of the business to do with oil and gas, focusing instead on transportation. they put out a profit warning on august the seventh, cutting there for your outlook -- their four year outlook. waiting for the second-quarter numbers to come through here. more breaking news. nejra: from rbs. we already knew that you and stephenson, the cfo

he will talk about ap moller-maersk specifically. annmarie hordern is looking at schindler, the storied elevator maker. let's start with maersk. how is the market going to take this? they have reacted oddly enough to the -- positively to the profit warning. >> the underlying -- are w eak. they have already cut their guidance. revenue was up 24%. what hit them exactly was the cost. fuel costs were up. the key highlight is the spin off of the drilling sector. thank you very much. we will stay on top of this story through the program. let's talk about chipmakers. european stocks, chip stocks, a lot of them make chipmaking equipment as well. >> both parts of that sector will come under pressure today, by the looks of it. nvidia disappointing outlook. that's likely to weigh on chipmakers. the likes of infineon, dialogue. applied materials come their outlook missed on both earnings and sales forecast. that is likely to put pressure on companies. the entire chip sector today is likely to come under a bit of pressure. matt: all right. fascina

denmark's ap moller-maersk is taking another step to getting out of the energy industry.has decided to sell its oil drilling unit separately. maersk is best known for shipping and will transform itself into a. transport-- a pure company. air france named air canada chief operating officer that smith to be its new chief. he is the first non-french national to run the company. david: thank you. deere announced results for third quarter this morning, with earnings still falling below estimates. replacement demand for large agricultural equipment is driving sales even in the face of tensions over global trade and geopolitical issues. the powerful global trends of increased population growth remain quite vibrant and puts a positive light on the company's prospect for the future. youome to shannon's a catch of boston saccocia private wealth. they are growing their business. >> they are. their main costs were run material and freight costs. what is interesting to me is that analysts were expecting this to be a strong quarter, and they were worried about 2019. instead, we are see

ap moller-maersk a has decided to lift is a drilling unit.aking a step from the exit from the energy industry. -- companies that they will make a decision next year and offered shareholders the possibility to participate in the value creation opportunity of a here playoff for drilling company. >> we believe this will create value for our shareholders. the reality is that there are many great companies, but not many companies with strong balance sheets. so the possible transactions involve some kind of merger, going told mean we are end up having more exposure to the sector. >> air france has named air canada's ben smith as ceo, casting aside union objections to entrust a foreigner with turning around europe's biggest carrier. the ceo will take the reins by next month. smith, currently air canada's theation chief, was succeed ceo after failing to end a series of crippling strikes. the airline said they would announce details as soon as possible. the royal bank of scotland has tapped katy murray to be the interim chief financial officer, as ste