to trust everybody else until the final thought about happens two three days later with crypto asset exchange it's really is like exchanging physical property once the payment is confirmed then it is done there's no charge backs you're completed so the current kind of party risk of reduced to virtually nothing which is why i think wall street's going to get more and more interested in this technology and i think that's what happens it's going to happen because it's going to outperform the old fashioned systems little by little well i do agree with. i think you know maybe thirty forty years from now or our grandkids will think how quaint it was we carry pieces of paper you know around in our in our wallets. and you can see it now i don't know if you follow the demographics of crypto adoption but i think it's just hilarious you know i live in atlanta we now have eighteen decline and because in cash a.t.m.'s all over town and you can go to any of there's a long line all young people. big stacks of cash pushing them into the machine to buy because and and these people you know sometimes i think i

to trust everybody else until the final thought about happens two three days later with crypto asset exchange it's really is like exchanging physical property once the payment is confirmed then it is done there's no charge backs you're completed so that kind of kind of party risk of reduced to virtually nothing which is why i think wall street's going to get more and more interested in this technology and i think that's what happens it's going to happen because it's going to perform the old fashioned systems little by little well i. i do agree with you i think you know maybe thirty forty years from now or our grandkids will think how quaint it was we carry pieces of paper you know around in our in our wallets. and you can see it now i don't know if you follow the demographics of crypto adoption but i think it's just hilarious you know i live in atlanta we now have eighteen big client because in cash a.t.m.'s all over town and you can go to any of there's a long line all young people. big stacks of cash pushing them into the machine to buy because and and these people you know sometimes i thin

crypto assets right now on these exchanges well you know but why is that you know jeffrey why is it markets are global why is that what a lot like is that situation exists in the u.s. well because the regulators are trying to force a modern digital technology into an analog old world style regulatory framework and it's not working and all this doing is driving the innovation out of this country and other places you know you can buy big climb much easier and a place like israel then you can united states or in brazil you know i've i've i've been to exchanges all over the world most of them are very free and easy and there's a lot of entrepreneurship there in the u.s. it's all about command and control it's a huge mistake for american regulators to be taking this direction because they're just going to drive the innovation and the capital outside the borders but he went and crypto assets in general are global technology if they don't care about the nation state ok mitch you know address that issue there because i mean the all mighty dollar it's a threat to a bit calling it all these other thi

crypto assets right now on these exchanges but why is that you know jeffrey why is that markets are global why is that what a lot why is that situation exists in the u.s. well because the regulators are trying to force a modern digital technology into an analog old world style regulatory framework and it's not working and all it's doing is driving the innovation out of this country and other places you know you can buy much easier and a place like israel then you can unite in the states or in brazil you know i've i've i've been to exchanges all over the world most of them are very free and easy and there's a lot of entrepreneurship there in the u.s. it's all about command and control it's a huge mistake for american regulators to be taking this direction because they're just going to drive the innovation and the capital outside the borders but he went and crypto assets in general are global technology if they don't care about the nation state ok mitch you know address that issue there because i mean the all mighty dollar it's a threat to a bit calling it all these other things are a threat

jo the fivee hundred million dollar hike of going check: on the currency exchange demonstrates the dangers of crypto assetsr way to store and trade cryptocurrency? exchangealized recently raised $50 million in its initial offering. thank you for joining us appeared the typical cryptocurrency exchanges, people send money and they have a database of your money and coins. decentralized version? another heist. it has happened before, i think it will happen again. it allows users to have control over their assets. works?plain how that where does air swap come in? >> you can write these things called smart contracts. they allow you to exchange assets at exactly the same time. joe: explain the models that exist right now, essentially big databases and the countries have to hold the wall it. if someone uses air swap or one of the other exchanges, are they never at any point handing over control of their coin? >> the exchanges in crypto are even more centralized them the exchanges on wall street. they act as an exchange and also as a broker. they act as a bank and they act as a clearinghouse. they act as a broker b

crypto assets right now on these exchanges well you know why is that you know jeffrey why is that markets are global why is that what a lot why is that situation exists in the u.s. well because the regulators are trying to force a modern digital technology into an analog old world style regulatory framework and it's not working and all this doing is driving the innovation out of this country and other places you know you can buy big climb much easier and a place like israel then you can united states or in brazil you know i've i've i've been to exchanges all over the world most of them are very free and easy and there's a lot of entrepreneurship there in the u.s. it's all about command and control it's a huge mistake for american regulators to be taking this direction because they're just going to drive the innovation and the capital outside the borders but he went and crypto assets in general are global technology if they don't care about the nation state ok mitch you know address that issue there because i mean the all mighty dollar it's a threat to a bit calling it all these other thin

one ofjapan‘s largest digital currency exchanges will refund around half a billion dollars of virtual assetsurse customers who lost their nem cryptocurrency coins on friday. navalny, navalny! thousands rally in support of the russian opposition leader, alexei navalny who's been released after being detained by police in moscow. and this video is trending on bbc.com. right now, the grammy awards get under way in new york. there's expected to be a focus on sexual harassment — an issue much in the entertainment news in recent months. that's all from me now. stay with bbc world news. . but

we could see low volumes and other exchange assets.ench president holds a cabinet meeting and then hold his news conference. i presume that he will focus on the franco german alliance. anna: we have heard about that franco german alliance since the start of the new year. the fed meeting is at 70 car p.m. -- 7:00 p.m.. juilette: bitcoin has bounced back from its new your decline -- new year decline. the san francisco-based firm has been purchasing small amounts of years. in recent the holdings are announced to be worth several hundred million dollars. euros moved 15.9 billion in 2016, saving the company billions of dollars in taxes. structures to showed the majority of its shield the majority of its profits. hasaba's financial declined a money grab. chinese takeovers of american companies have prompted warnings from lawmakers about risks to national security. mayeth griffin's hedge fund expand as it closes in on a deal. according to a person with knowledge of the matter, citadel has been in talks to higher e severaleople -- hir people.

shift gears to another asset class, another crypto exchange heist, this time in japan.cks currencies are mostly higher after coin check was hacked to the tune of almost $500 million. there have been calls for more oversight. let's get more of this story. asian technology editor has been tracking this closely. how are the crypto markets taking all of this? they are kind of taking it in stride as you saw there. friday, news of that heist, or at least the disappearance of some coins from an exchange in tokyo, came up. despite the sort of mind boggling figure they are holding up somewhat well, although, as we both know, the longer volatility that we have seen in -- about where we are now, 11,400, i wouldn't be surprised if there were more of that due to other factors or some sort of fallout on this incident. yousef: a tale risk with these cryptocurrencies. whispersore and more of regulators at least looking at it. how are they likely to react to this latest development? reed: exactly. part of the swings we saw in december were from south korean authorities threatening to ba

. >> a major japanese cryptocurrency exchange says hackers stole nearly $530 million in digital assetsit the world's largest ever digital currency theft. the exchange called coincheck says it will repay victims about 90% of the stolen currency known as neman tokens. they didn't say how or when. it is one of the 10 most popular. it halted all cryptocurrency trading except for bitcoin after friday's hack. they are looking into the matter. >> a story of a woman breaking barriers in a high-tech world, plus hillary clinton's grammy surprise and the dramatic reading. that's next in "early today." any object. any surface. if you've got a life you gotta swiffer are you one sneeze away from being voted out of the carpool? try zyrtec®. it's starts working hard at hour one. and works twice as hard when you take it again the next day. stick with zyrtec® and muddle no more®. the unique formula with nourishing almond oil leaves skin smoother moisturized for 24 hours. enjoy smoother skin and now try new oil infused lotions moisturize with indulging scents the quicker downhiller with (vo) lindsey vonn

asset classes with. insurance and foreign exchanges. >> they expect the best performance in five years.s good as it gets. gdp probably increased the most since last year. praised and once the strength is now lagging. >> semiconductors, machineries, and petrochemicals. ago searched from a year and the trade surplus forching exports led them the first time since 2011. and it wasnue grew less than the median estimate for a 20% increase of a bloomberg survey. it is the first four-year growth. >> the country rushing headlong into the future and looking to -- our north asia correspondent enjoyed an immersive experience in beijing. impossible not to see the potential. space killingeep spree. >> it is a movie and a gaming experience. >> all you are walking around is a a cement. is funded by a chinese film visionary who may transform some of these works into virtual reality. >> as a movie director, this is significant and you can be .maginative bandit is not flat you can even interact with it. a newwants to open up industry. >> they want to become the universal studio in china. the row will be m

you know, the question whether bitcoin has volatility, yes, but i think there's an asset class, the decentralized exchangesay. liz: old school bankers do not like this. jamie dimon called it a fraud, now saying i shouldn't have called that that. >> yeah. liz: you used to be the chairman and president and cbo of ubs president americas. would have you green lit any foreign coin desk on this? >> i would say that i look at it as a little differently. i don't see it as a currency, i see it as asset class. i don't think people should be speculating in gold as an asset class. my perspective is a little different. i think from a regulatory perspective, that's why we're seeing the downfall. when i was president of the investment bank at ubs, 27 countries. there's regulation everywhere, and based on what south korea has -- is briefly looking at, japan and china, tradeings, it's going to change the speculation. we're seeing the dump when we can. liz: regulation is the sword of damocles hang everything on the bitcoin saying we don't want to do with it. china saying we don't want banks trading it and also said we don't

world's biggest ever digital currency assessed a major japanese crypto exchange has lost about four hundred million dollars in digital assets off a hack attack point check says hackers stole eighty m. tokens from its platform on friday it's among the top ten cryptocurrency is in the world by market capitalization the company says it will use its own assets to reimburse the two hundred sixty thousand people a fact affected by the attack is not yet known when they will get their money back and north american trade ministers have wrapped up the sixth round of free trade talks in montreal the u.s. trade representative saying there had been some progress but that it was slower than hopes the three nations did move forward on telecoms trade barriers and health care but other areas remain at a stalemate although it now looks like that the u.s. will remain in the negotiations the u.s. trade representative finishing the meeting with critical comments directed at negotiating partners let's check in with our man on a wall street now yens quarter good to see you as we are hearing some progress has been made on the topic of nafta how op

assets lost in a hacking attack. one of the country's biggest exchanges, coincheck, says it will use its own money to reimburse customers who lost their nem cryptocurrency coins on friday. the grammy awards are under way in new york. there is expected to be a focus on sexual harassment, with many artists wearing a white flower in solidary with the time's up and me too movement. and this video is trending on bbc.com. this wild elephant in china went for a stroll across the border into neighbouring laos. the animal neatly evaded the frontier barrier, before coming back a couple of hours later. that's all from me for now. stay with bbc news. and the top story here in the uk: a 28—year—old man is charged with causing death by dangerous driving after a crash that killed three teenagers in west london. now on bbc news, all the latest business news live from singapore. the chief janet yellen‘s swansong as she chairs the last meeting this week. what can we expect on us interest rates? and young tech entrepreneurs in taipei are ditching the traditional culture of playing it safe. welcome to asia business report, i'm sharanjit le

bitcoin the block chain is a failed experiment it is not a currency it is not anning a s asset valu medium of exchange >> so what is it >> it's a bubble, a gamble >> even visa ceo told jon it could be considered a commodity, splaek differen speculative commodity. >> and it is being taxed as a pretends commodity so they have explaining to do and money to pay in capital goods to the irs this is a loaded roulette wheel. you're better off in vegas, the food is better >> we are seriously skeptical as well, which is why i asked the visa ceo that question and yet people continue to trade in bitcoin. what should the government do with something like this that is technologically advanced, has a lot of backers, but is difficult to regulate? >> there is nothing of technology about bitcoin what should the government do? you kncan't legislate stupid it te tell people this is a questionable investment. vegas, the house always wins the snake oil salesman will win. little guy will lose it is foolishness. look up tulip mania, it explains everything >> so who is getting it right? i know you say snake oil salesman >> pe

world's biggest ever digital currency theft a major japanese crypto exchange is lost about four hundred million dollars in digital assets after a hack attack says hackers stole any m. tokens from its platform on friday it's among the top ten crypto currencies in the world by market capitalization the company says it will use its own assets to reimburse the two hundred sixty thousand people affected by the hack it's not yet known when they will get their money back. the dollar crawled up from lows on monday but struggled to pull ahead from six straight weeks of losses there are conflicting messages coming from the u.s. political elite on what the value of the greenback should actually be treasury secretary stephen the nugent said of the world economic forum in davos last week that a weak currency would help you with trade balances in the short term but on thursday he backtracked saying he fundamentally believed in the strength of the dollar and shortly after president donald trump said he ultimately favored a strong dollar the booming u.s. economy should be pushing the dollar up instead it's been tumbling as so many othe

china's hna group planning to buy retail assets and part of the conglomerate. exchange purchases after some banks are reportedly freezing unused credit lines because of missed payments. ccoop has been suspended. the nikkei news says foxconn is considering injecting its core business into a new subsidiary and it plans to list it in shanghai. they will seek approval at a shareholder meeting to list networking services. china international capital may be a lead. rishaad: tencent taking the chalice alibaba by investing in the chinese unit of terror for -- or cerrefour. it will take a stake in conjunction and work on smart sales, mobile payments, and last year, they struck a similar deal with other businesses. let's get back to our guest. he is a global markets jpmorgan asset management. let's have a look at where the u.s. goes. where they go, they tend to follow. market reaction to the shutdown is pretty muted. we have got -- as opposed, a lot of events being political and short-lived, ignored by many participants, so what are u.s. investors looking at at the moment? are th

we have to be careful about the month by month foreign-exchange data. assetsse market to market, some are not, we don't know which are and aren't. some of it could be market fluctuation, some of it is a shift in terms of reserve pressure. i think it is unlikely the chinese will have to deal with substantial capital outflow pressures anytime soon. i think what we saw last year was the one-off affect mainly of companies paying down loans, don't think that will be enormous pressure, but i don't think they are in a rush to lose control, it's not a government that wants to give up control voluntarily over many aspects of the economy. tom: shifting to the u.s., what is your reading of the latest job numbers? is this the new normal, softening in terms of job numbers as we head toward full employment? paul: i think most economists would argue we are at full employment and it is inevitable in that situation that it changes many aspects of employment reform. full employment, the unemployment rate struggles to fall further, the payroll numbers don't grow. there are -- no

investors into saudi arabia who will fall in line with building these cities only exchange will get to keep his particular assets in other words if he's mohamad been so men may have got what he wanted in getting what he'd been following to give up his political ambitions let's remember what muhammad bin so many has been doing alongside these investigations which is these changes of advisors in the government changes of key personnel within the government creating stablish in loyalists essentially removing any base on which we could possibly become king and stick a threat to my have been so many power so now it seems that the fact would have been followed is able to be released now and keep all of his assets so just mohamad been so man has cut off his wings politically and make sure they've been followed can no longer be a political threat so now we've been following would dismiss it as saying hey world that i'm with you have been so many i believe in his vision i'm going to use all my contacts to bring you guys to saudi arabia and bring you and invest in the kingdom ok so in fact what he said what prince and so

concerns by the american securities and exchange commission the regulatory agency is concerned about the liquidity and valuation of the e.t.f. space on digital assets the move adds a new hurdle to the bid by wall street firms to capitalize on investor interest in cryptocurrency s. many fund managers are disappointed they thought the s.e.c. would approve the proposals after the launch of bitcoin futures contracts at two of the biggest commodities exchanges in chicago. and was studying in tech this year's consumer electronics show is well underway in las vegas it's not just your usual smart phones or computers practically every industry is in the tech game these days some things seem rather like science fiction though they could be coming to a home near you very soon. it's all about progress of the c.e.o.'s one hundred seventy thousand visitors from around the world are getting updates on the high tech that could soon be transforming our lives self driving cars from china smart bathrooms where network mirrors scan faces and often make up tips gigantor mania in the electronic entertainment sector the wall t.v. is true to its name offering a three mete

worried about liquidity and valuation of futures contracts based on cryptocurrency rafferty asset management and exchanged concepts each canceled plans to launch bitcoin funds that could be traded by retail investors as easily as stocks >>> time for the executive edge. optimism on main street dips but from record levels kate rogers has the details of the latest nfib report >> good morning. the nfib's optimism index dipped in december to 1.049 the biggest drops in the index were in those who expect the economy to improve, down 11 points, and plans to increase invento inventories. capital outlays increased by 1 point. this is actually the best year ever in the index's 45-year history with a yearly average of 1.048. the previous record was 1.046 set back in 2004 the historical average is 98 it's also notable that optimism held at record levels this year. last december the first reading after donald trump's election, the reading was 1.058, we're just about one point away from that level today the biggest issues for main street are taxes, quality of labor and government regulations and red tape small firms ar

realize that it's only the tensional as if it's an asset which always rises the days of that happening are over because before there are futures exchanges almost all the pressure was on the boss sawed and of course you can buy one virtually one billion at the coin so you can put a small amount of money in and drive the process up a lot sugaree it's perfectly designed for speculation it's very very badly designed for money now once people can see speculation to lead to down as well as up then all this left is it's used as a form of money and i don't believe it has that capability so i think the the downside is a damn sight larger than the upside there's a whole row other cryptocurrency isn't there that i've also seen quite rapid rise is a report i know one of them for example do you think if bitcoin does keep falling if it loses its crowd as the sort of prime crypto currency could we see another currency perhaps replace it yeah i think we can i mean the actual a concept of having a a an algorithm replacing having a trust that the body for transactions can work if the transactions are going to occur at the speed we need which is something

exchanges. that is how powerful they see crypto-assets.erstanding how they want to deal with it. the volatility helps i give managers take some profits as well. >> i wonder if we will see china and south korea backtrack. this may be an unfair analogy. if you look at china blocking facebook, everybody thought that would only be temporary. it has not changed and it like it never will. over -- you could see is a develop of its own ecosystem with cryptocurrencies. that would be very exciting, i think it will just >> take some time to develop. 1928.'s look at #btv this shows have bitcoin compares to other cryptocurrencies. i am curious about china developing its own ecosystem, what would that look like? >> other regions like russia have looked into creating their own crypto currency at exchanges, their own mining firms as well, there is a lot in the bitcoin ecosystem. what they tried to do is hedge and have people in the active space for mining funds and ico funds with these new coins that come out. there is so much involvement with this -- the

assets lost in a hacking attack. one of the country's biggest exchanges, coincheck, says it will use its own money to reimburse customers who lost their nem cryptocurrency coins on friday. navalny, navalny! thousands rally in support of the russian opposition leader, alexei navalny who's been released after being detained by police in moscow. and this video is trending on bbc.com. right now, the grammy awards get under way in new york. there's expected to be a focus on sexual harassment — an issue much in the entertainment news in recent months. that's all from me now. stay with bbc world news. . but first is a talk. —— can't talk. welcome to hardtalk, i'm zeinab badawi. my my guest is the deputy president of south africa, cyril ramaphosa. this is his first interview with the bbc since he became president of the ruling anc. he could also become president of south africa very soon, ifjacob president of south africa very soon, if jacob zuma heeds calls to resign early. but is cyril ramaphosa and anc stalwart and wealthy businessmen the right person to lead a new south africa, a country mired in corruption and cronyism 7 d

laundering laws. japanese virtual currency exchange coincheck will use its own funds to refund customers after hackers stole around $400 million in digital assetsthe 10th biggest cryptocurrency by market capitalisation. a care is in the news. the founder of the company has died at the age of the company has died at the age of 91 —— ikea. that story is all the media at the moment. we seem to have problems connecting with our guest in brussels, for some reason, which is a shame. i will not be able to dig deeper on top story today about the eu its decisions as today about the eu its decisions as to what that condition should be with a transition deal for the uk's exit from the european union. we will talk about that in the news briefing. my guest will be back. it is all over the papers, the difficulty that prime minister theresa may is happening right now with regard to the fractions within haram with regard to the fractions within ha ram party about with regard to the fractions within haram party about brexit very in the papers. we will look at that shortly —— her own party. a strong week for the united states. in asia we are seeing a mixed sessi

but it was quite desperate then, liabilities were more than asset and it was facing a possible delisting from the tokyo stock exchangemanaged to raise money from an equity issuance, which let it pay down some of the liabilities. it is in a much better bargaining position now. so, some shareholders are saying that the ipo option is a much better deal and that it should walk away from the agreement. that is where the anti—trust regulators are at the moment. they have until the end of march to approve the deal. if no approval is granted, toshiba can supposedly just walk away and consider other options. even if approval is granted, some people are saying that toshiba could still find a better option. toshiba still says it is committed to the bain sale, but investors like the alternate option. shares jumped by but investors like the alternate option. sharesjumped by as much as 7% today, before closing a little bit lower. something tells me we might speak about this again at some point in the near future! that have a look at the numbers. there is a new trading week. a bit more caution amongst investors, coming after hong k

exchange. this is why i tell people 1 to 5% of your assets need to be in this and that's about it these thingsadly happen. >> i am an average person at home and i own half a bitcoin do i take that and put it in a cold -- >> absolutely. if you own it on coin base you go to the coin base vault, send it to zappo. >> chuck it in the freezer right next to the haggan daz das. >> you do not leave coins on an exchange they are vulnerable to a hack. >> i have no idea what you are talking about. >> i'm thinking about getting liquid nitrogen futures. fantastic. >> you can put it on a thumb drive or put it in a safe? >> you can get what are called a ledger or a trazer, cold storage wallet, take those and put it in a safe that's another way to do it. it's easier than it sound. you simply send it to an address. you have a password, have a safe that's how you -- >> it can only be easier than it sounds >> rethink about night it's not as bad as you think. all you need to know be don't keep your coins on an he can change. >> okay. still ahead. the more you know, biotech having the best week since september. and

few reasons is the lack of rule of law in venezuela, ultimately to have trust in this exchange by a physical assethave to believe it can be redeemed on that asset, in this case, a barrel per oil how do you know if they're going to deliver and if they don't, what's your recourse experts are technically sk skeptic skeptical. will they'll be based on a theory or something else there will be many cryptocurrencies in the future, they are doubtful of this particular one >> steven mckeen, he joins us here onset, good to have you here >> thank you for having me >> lets talk about asset back cryptocurrency >> you said for example, real estate could have krcryptocurr y cryptocurrency, explain. >> drift trading from something like bitcoin, on asset back token is a reputation of an ownership claims you can think of this as another form of security th they are often calls security tokens you got an online and on chain, represe and because it is on chains, it changes in ways these things can be traded. >> is it premind or where do you get those tokens >> so you could establish through a smart contract, you coul

the stolen coincheck assets were said to be kept in a hot wallet, which is part of the exchange connectedt, where funds are stored securely offline. coincheck said it will issue full refunds to all of the 250,000 of its users who have become victims of the hack. but will that be enough? translation: my total losses are about1 million yen. i was shocked. i'm finding it difficult to trust virtual currencies anymore. 0thers probably will no longer invest in them. translation: money cannot be kept in insecure places. i won't consider investing unless there's a reliable platform providing such services. world leaders meeting in davos last week issued fresh warnings about the dangers of cryptocurrencies, suggesting they risked being used for illicit activity. will the coincheck theft now prompt legislators to act? rhodri davies, bbc news. a french climber stranded on one of pakistan's highest peaks has been flown to hospital after a rescue operation. but the search for her polish climbing partner has been abandoned, as tim pattinson reports. a dramatic rescue operation on one of the world's hig

exchange traded funds. ♪ scarlet: do you need star power like a linked index to get assets to $16 trillion by 2024?d what role endorsements can play in the industry's growth. why dan draper is on trial for computer programmers rather than mbas. and with the holidays

asset value? eric: it is all over the world on different exchanges, and what would they do to ensure liquidity?you be able to handle those reductions? and how would this etf attacked against hacks? cad is a big one. there is a bitcoin in sweden that seems to work fine, and i think there is a degree of them wanting to look like they are studying this and concerned. i was a little bearish on when it would launch but i have moved up considering some of the feedback i'm hearing from issuers. it might be a while, might not be this year, but it is hard to say. the whole thing kind of reminded me of bob dylan's blowing in the wind -- julie: of course you have a musical analogy. eric: these are questions you can and cannot answer and they have been addressed. these are all questions answered, and the person who runs that division used to work so she answered at the questions in those perspectives. look, everybody cool outs and we had to debate this more. we are not ready. let's get this on the table and a look to refile and approval. julie: and still expressing caution. in the meantime, there are launc

a broad range of asset classes and products including cash and derivative instruments and foreign-exchangeities as wellthe biggest change in europn as fixed income. the longest winning streak in two decades for 2017's biggest increase in commodities and hedge funds seeing more gains in the coming year. of the nine components of the agriculture some index, wheat posted gains last year. cotton within 11% advanced on-demand. prices capped 2017 with 10 straight weekly gains, the best streak since 1998. turnbull hasr revised the debate of what sort of country revile -- our straily wants to be when queen elizabeth dies. he hinted at a postal poll, saying that australia needs an open debate with moving to the republic which requires changes to the constitution. will replacedent the queen as head of state and that would require a referendum. the last jedi is giving movie theaters a new hope 2018. the latest chapter in the star wars saga was last year's top grossing film. $68 million in north america over the holiday weekend. that takes its domestic total to $533 million, beating the market set by

this is where we focus on the assets, risks, and rewards offered by the universe of exchange traded fundsear of low volatility. as we look at 2018, our guest says it will be the year of the hedge. plus, we talked to the man behind most recent vice etf. it focuses on alcoh

andrea: it means that, for example, we start getting engaged in certain asset classes because we are very heavy regulatory weiss. exchangesclear, we can move, because they are capital light and returns may be higher. there are some businesses that are higher value or volume in -- or volume, and now we are less. developingment is fast. you need to stay on it. the philosophy behind it of the capital light high risk investment return model that can grow in dedicated segments stays the same it has been successful. francine: talk to me about m&a. i don't know what end of the spectrum you are. strong but has been slightly declining. the acceleration we had in q4 were the biggest deals being done in q4. that should continue. global growth has driven that, confidence, it change in in the u.s., regulatory relief. we think that will push the cycle. we don't think that is going to be massively greater than what it was in 2017. francine: there is so much optimism here. i don't know whether this is because of the tax reform, because this is the world economic forum or the world economic outlook by the msf -- by the imf was better than

exchange traded funds. ♪ scarlet: do you need star power like a quincy jones linked index to get assets to $16 trillion bydiscussed what role celebrity endorsements can play in the industry's growth. why dan draper is for computer programmers rather than mbas.

asset prices. >> something to chat about in our "closing bell" exchange today. , scott collier from adviser asset managers along with steve grasso from stuart frankel and rick santelli will weigh in on that steve, you've made it known. you would rather see the fed cut rates than leave them where they are. >> yeah. i wouldn't - >> but do you agree with ray that, you know, an aggressive fed this year could kill this bull market? >> of course i don't think anyone disagrees with that statement, but i do believe mr. powell understands who appointed him, who put him in that seat and what that person, president trump, gauges as his pa rom ter as success - >> are you saying a federal reserve chair could be politicized? >> only from the existence of the fed chair. >> i see. >> to the point that they understand what's out there in the atmosphere around this decision, i think that there is -- it is in no one's best interest to raise rates too quickly. i think everyone understands that because the chairman understands -- he doesn't want to kill the rally either so, i do beli