top corporate index gives general electric its marching orders. behind bars for the banking crash that lot to your zones most costly states rescue. welcome to your business news it's good to have you with us this friday to this because first you tariffs and u.s. x. force factor will hit real american products like peanut butter whiskey and motorcycles trade relations between the u.s. and europe are under strain especially since washington impose tariffs on steel and aluminum. american whiskey tends to fly off the shelves at this liquor store in berlin prices start at about twenty five euros a bottle of the finest stuff can set you back as much as eighty. some fear that tariffs on u.s. imports including whiskey of course will lead to price hikes. are but store owners the past year on call us is taking the levies in his stride they are due to come into effect on friday but for him it's all about pivoting to other regions after all american whiskey isn't the only kind on offer for life might focus more on german whiskey isn't the only kind to come fr

jens, so general electric is out. what does that mean for shareholders?ens: well, it was 1896 when charles dow came up with his famous dow jones industrial average, and as you mentioned, ge was part of it back then. but the good days seem to be over for ge. just in the past 52 weeks, the stock actually got hammered by about 55%, meaning the stock price cut -- got cut more than half. what does it mean looking forward? maybe not that much. because we see that quite often. before a stock gets kicked out of the dow jones industrial average, we have already seen most of the pain, meaning stock prices have been under some pressure so that ask her the removal, we see those stocks actually once in a while outperform the broader market. so at least when it comes to the stock price, it does not have to be doomsday for general electric. fanny: briefly if you could, what does that mean that general electric is out of the dow? jens: it tells you quite a bit of how the u.s. economy looks like in general and what are the main drivers. obviously not industrial corporatio

in other big news today the dow has kicked out industrial giant general electric its shares of day today down by zero point zero point seven percent she has been part of the dell jones industrial average for more than a century it was just recently one of the largest listed groups in the world but has recently fallen on hard times its talk price plummeting in the past year from twenty seven dollars to just over twelve on wednesday it's a controversial move general electric's is valued a lot higher than companies which are still included in the leading index thank you knight a technology and cato pillar investor say it's this disparity which makes it go bad for understanding the true value of corporate america and because the index is based on share prize cheese clearly far behind top firms like the bank goldman sachs or apple they have share price is ten times higher than she a sign of declining relevance perhaps but is the problem more on the side of general electric's or del let's get more on that from our correspondent on wall street can score to standing by he should be there there h

stock in about three years and by the way this was the first trading day for general electric in over a century that it's not a member of the doll jones industrial average anymore it got replaced here on tuesday by the company walgreens so a bit of positive news coming out of the eventually for g.e. thank you very much found some more powder positive non-tariff news a german commission has recommended raising the minimum wage here next year by four percent to nine euros nineteen an hour the idea is to boost private consumption in europe's biggest economy german government is widely expected to take a proposal which include a further hike before the end of this decade and ploys have been required to pay minimum wage in germany since twenty fifty. india's economy is growing rapidly but it could be expanding even faster if it weren't for the country's crumbling roads railways and utilities where in dire need of investment now the government is calling on the asian infrastructure investment bank to stump up some of the cash. in delhi getting from a to b. can be quite a challenge heavy tra

general electric getting kicked out of the dow afte111 years. been talking about starbucks, same-store sales were down that leaves that company in question, too. we have the perfect guest host this morning david novak is the former ceo of yum brands he will be telling us what he thinks management should be doing in some of these situations. >>> and andrew is in cannes. he has a bunch of guests coming up, too, including the head of advertising for at&t, the ceo of pandora and the co-founder of reddit a lot of things coming out of advertising. >>> and we will be talking with jimmy dunn so many questions about what's happening in the market, what to do now jimmy dunn is the principle manager at sandler o'neill >>> also we'll be talking to senator rob portman about those trade issues, what congress might be doing next. and we have the volvo ceo joining us to talk about the expansion of volvo in the united states a lot of things coming up. >> a hugely packed show as always look forward to seeing you at 6:00 a.m >>> still to come on "worldwide exchang

he was also a stop executive at general electric for more than 30 years.to us about general electric. it's really hard for someone has worked for ge myself. it's hard to watch ge at the price it is and the smaller company it is versus what it was. >> it's heartbreaking to see what happened to this legendary company. 125 years, the only original company still on the dow today. both of us put a lot of sweat equity into it. maria: the market value has been cut in half. >> i don't think anyone would have predicted that we would see it where it is today. john flannery stepped in and he has an unbelievably challenging task to get profitability up and cash flow. that will and big challenge. he had to cut the dividend in half. he put several businesses -- he talked about $20 billion of disposition on the table. he's anticipating while those companies generated cash, he'll get five to six times more cash by disposition to fund pension liabilities, dividend and reinvestment in businesses. it's a tall order to dig yourself out of the trench. maria: are these the righ

somebody in there. >> that will buoy the dow index up a bit >> walgreens alliance will replace general electric in the index. do you think the worst is over for general elect rick do you think the dividend is safe >> well, i don't think the worst is over. i mean, john mentioned he's got $20 become of assets he has to monetize and, quite honestly, they've had a little slow start in doing that. they put the transportation deal together, but that isn't realized until 2019 at least from a cash flow standpoint. they've got some of the affordable power business on the line i think they're in negotiations on the lighting business so i just think they've got to you know move more quickly i've said this several times already, having lived through this at chrysler, you know, relative to cost out, monetizing non-wereing assets you know getting rid of some of the $20 become assets he's identify if you look at inventory, what are you doing to get working capital in line with the revenue. if you go down, you know the income balance statement you will see a lot of opportunities that just need decisions >> sur

lots going on as ever but we wanted to talk to you about general electric, no longer in the dowjonesjune. it was one of the original members so just under... 1896. and a very innovative company. the aim of the dowjones is supposed to be an indication of how corporate america is doing and general electric for so long was the bellwether of corporate america, by market capital, it was the largest us company even in 1990. it's not just about how corporate america is doing but what it is as well, the changing face of the us economy that isa changing face of the us economy that is a part of this story. width yes, there are two challenges, one is the dowjones is there are two challenges, one is the dow jones is only there are two challenges, one is the dowjones is only 30 stocks so to some degree, you struggle a bit to get the full picture and of course you also have the big shift between obviously companies like amazon and facebook becoming ever more dominant and whether the dowjones is the best reflection of that. the ftse used to be 30 many years ago and then went up to 100. why hasn't t

. ♪ tom: breaking news on general electric. dismantling ofhe general electric. about the power division. today, ge announces they will spin off their health care unit. that is a big deal. also, they may cut the dividend. that was something that was iffy. reporting they begin to discuss that oil transaction of a few years ago, the idea of somehow liquefying and jettisoning baker hughes. it is the dismantling of the welch era. let's talk about what is happening in the commodity space. is the function you want to use if you want to follow along. speculation that the u.s. will be facing an ongoing supply crunch in the risk of uncertainty on how much opec is planning on boosting outlook. joining us on set, jane foley. we will come on to shape of the curve in just a moment. a lot of it depends on two factors really. how long is this shutdown in the big oil since? the other is national, how much is opec going to increase the flow of a lot of it depends on o factors really. oil in the market? and is pushing down brent pushing up wti. tom: -- guy: how long are we

daniel: general electric shares shot up after announcing it is spinning off two businesses.hat is the thinking behind the move? jens: if you think of a short-term, it brings more money to investors and also more money to general electric itself. they had quite some trouble in the past couple of years. in 2000, ge was worth almost $600 billion. it was then the most valuable u.s. corporation. now it is down to about $100 billion. if it is a good decision in general, especially to sell, or get rid of the health care business that was growing in the recent past, remains to be seen. long-term, questionable. short-term, good for investors. today was the best day for the ge stock in about three years. by the way, this was the first trading day for general electric in over one century that it was not a member of the dow jones industrial average anymore. it was replaced on tuesday by walgreens. daniel: positive news coming out eventually for g. jens, thank you very much. some good news about tariffs. all of a sudden china is slashing tariffs on thousands of imports from five asia-a-p

breaking news this morning i general electric or the company shedding more businesses. "the wall street journal" reporting ge will spin off its health care business and sell its stake in baker hughes coming as the stock will not be a member of the dow jones industrial average for the first time ever in a hundred years that begins today. ge replaced by walgreens. uber fighting for its life in london. a monster valuation for instagram. is facebook now worth more than

econy, so t change is not about general electric. looking at the index, it is with ge, where it is now somewhat overweighted in industrials. the more indusials represented in the index than would be balanced to the market. less consumer staple companies, somewhat less health care companies and all that suggested to swap an industrial for something that was in consumer staples and maybe a tinge of health care.f on top that, ge price at about $13 a share has a very low weight in the dow. less tn 1/2 of 1%. ge wasn't doing very much. was nh having m impact on the dow, so rather than leav tit there, lete the opportunity to balance the index better, add a stock that will have a bigger impact on it, that's in part or largely because the dow is price weighted. an unusual way to do indices, but probably the long-time standard way.n >> david, w you're talking about which of the 30 companies should make up the dow, do you also have conversations about whethe weightingse companies by share price is still an accurate reflection of e americanecon

history has changed for general electric. one of the dow's original components will be replaced with shares of drug retailer walgreens alliance. it means the index calculation will change the device or which is the number used to determine the influence of any of the current 30 component that make up the dow revised at the last time there was a change back in september of dow chemical and dupont which became. we'll see you in a little bit. [inaudible] maxine waters. handing american express a big victory that consumers may suffer. u.s. stock index futures right now. the dow was up six points. the the s&p 500 unchanged at the nasdaq up almost eight points. you are watching "fbn:am." ♪ hidden from your competitors. the ibm cloud. the cloud for smarter business. when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. gerri: welcome back. check in the u.s. stock futures here's what we see.

. >>> we have breaking news on general electric the walling street journ"wall ss reporting that theyto spin off their health care business and unload ownership this baker hughes plans expected to be announced later today. we could also see another dividend cut >> and i think a lot of the streets have been waiting for something like this, a broad gesture of unwinding ge. i do think that the idea of spinning off health care is a little bit of a mixed message because it is a relatively steady business. it is one that has performed okay and the ceo at one point had run it and the baker hughes thing, i think investors were probably hoping for something like this it was an unwieldy structure and ill timeding a agre entry in gas as well. so we'll see if it can rebound >> and this is of course a part of ceo john flannery's year long strategic review we're seeing the stock pop around 1.6% on the news. >> and i would expect to pop i think the idea that there was value trapped inside of ge was pretty uncontroversial, but it was not clear what the time table was for trying to realize that i don'

it makes top flight health care equipment decent general electric was a bad financial company.old off two of its financial companies. oil and gas at the top i know from experience that nbc universal was an after thought ten times the company now owned by comcast in the end what really matters are the charges itself the risk is from long-term care and some from power. as i see it, the dow jones average kicked out one sick health care company and put in another one. until then, irony is not a good reason to buy any stock least of all not this one david in pennsylvania. >> caller: hey, jim, what's going on with cummins. >> they had problems i keep waiting to get to the bottom of it, but i can't do it yet. san jose in california. >> caller: booyah from america's finest city, san diego >> it certainly is and go qualcomm. >> caller: calling about general dynamics >> private planes are bad and the world is turned off by anything ever since korea anything defense urge you to stick with it. but this group is in a -- market. >> caller: we have made a lot of money off your advice. so than

eight years he spend at general electric and he had as mentor the head of government relation at general electric. i worked with reagan for years. when i read this book i in other words what he was doing for the first time. it's that insightful a book. he learned from this guy how to deal with people. he within around the country and gave 375 speeches to blue collar audiences with q & a and picture taking. by the time he ran for president he had been interacting with blue collar workers and talking about idea the guy who hired him was a very conservative person and reagan wouldn't fly back then. from 1946 to 1965, reagan refused to reply. had a very bad airplane flight, got caught in a thunderstorm and just decide that was it. and in fact, he didn't fly again until in the fall of 1965, he gets a call one evening from his brother in san francisco, who says, ronnie, there are group of guys who would like to have break fast with you in the morning and talk about supporting you for governor. and he said, well, you know i don't fly and i can't get from here to san francisco that fast. he said

to turn generates electricity. and we've. been back through the turbine a while main thing and the puzzle with us is that you know. and i don't worry about myself we're not going to be nothing like a lot of. innovative technology in a sea wall originally built for one specific purpose to protect the harbor. local fishermen were often thwarted by the strong times their boats were sometimes unable to reach open water. modernization. people now we're completely safe from the power of any osha was removed. we couldn't have all these new measures for the boats. they just used. and that's vital for the five thousand villagers the harbor area has been given a new lease on life. and the local fishing industry is flourishing again plus the residents directly benefit from the strong tides which are now having a positive effect. the hope is that the technology will make further progress allowing the establishment of more break water power plants in the future. from the north atlantic ocean in europe to the coast of south africa a countr

to generate electricity from the incoming waves but. the wave power station has already generated almost two million kilowatt hours since it was opened in twenty eleven. sixteen turbines inside the plant are an almost permanent operation and produce around three hundred thousand kilowatt hours per year. john the cuba is one of the plant's technicians. he's also a local resident. and is called up regularly to service the facility. and i laughed when i was they were putting the lower section of. the air jam i know they did in the second why they didn't ask her enters but it was the lazy upwards. and i tried to turn. turn generates electricity. and leave. through the turbine while main thing in the process. and i don't worry about myself when i put enough. innovative technology in a sea wall originally built for one specific purpose to protect the harbor. local fishermen were often thwarted by the strong tights their boats were sometimes unable to reach open water. modernization. now we are completely safe from the power of the osha was re

in turn generates electricity. and when the wave recedes the air is pulled back through the turbine and the process is then repeated elated. to be nothing like a lot of. innovative technology in a sea wall originally built for one specific purpose to protect the harbor. local fishermen were often thwarted by the strong tights their boats were sometimes unable to reach open water. their modernization of our harbor was hugely important now we are completely safe from the power of the ocean was removed if it weren't for the sea well we couldn't have all these judges for the boats. they just. ignored. and that's vital for the five thousand villagers the harbor area has been given a new lease on life and the local fishing industry is flourishing again plus the residents directly benefit from the strong tides which are now having a positive effect. the hope is that the technology will make further progress allowing the establishment of more breakwater power plants in the future. from the north atlantic ocean in europe to

general electric is out. walgreens is in changing the o makeupthe oldest and most widely followed market indexes. those stories and more tonight on "nightly business report" for tuesday, june 19. i'm contessa brewer in tonight for sue herera. >> and i'm tyler mathisen in for bill griffith. today the dow notched i longest losing streak in 15 months. those gains for the year out of here, gone, this after president trump threatenedo slap additional tariffs on hundreds of billions of dollars ofe chin goods ratcheting up trade tensions between the u.s. an china. investors held on tight as stocks dropped tightly. the shanghai composite index on its lowest level. since then stocks fell about six percent. the dow down 287 points to 24,700 on the tton. the nasdaq dropped 21. the s&p was down 11. eing and caterpillar, the two bellwetheconsidered for trade tensions were the biggest losers on the blue chip. as trade tensions escalate beyond expectations, questions are being raised about the outlook for stocks. pi bob san

. >> all right, let's move on here ge, general electric, leading the s&p 500 today. pacing for its best day in more than three years after the company announced more details of its restructuring plan. morgan brennan joins us live from the new york stock exchange with details and a fiery exclusive with the ceo just took place. >> that's right. so shares of ge are at session highs right now, up almost 9%, this after the company unvei its plans to become more focused, stronger, simpler, saying it's going to be from this point forward aviation, power, and renewable energy company. it's spinning ge health care into a stand-alone company, a process that's starting immediately and will take place over the next 12 to 18 ms. and also saying it's going to fully separate ge, baker hughes over the next two to three years in which it has a two ds stake in that company. so earlier today, on squawk on the street, john flannery, who has been at the helm just shy of a year, saying that this process and this announcement which investors have been looking for for months now, is very pe

general electric is separating from two business units as part of a major restructuring. the u.s.nounced yesterday its plans to spin off its health care and sell off a stake in oil company baker hughes. now, general electric's stock oh feshally dropped from the dow jones industrial average yesterday, however, investors rose as they announced their restructuring announcement. as for broader market, stocks finished slightly higher tuesday, a day after the heavy selloffs. the dow rose 30 points. the s&p 500 added almost 6 points. the nasdaq gained 29 points. >> uber gets a green light in london again. a uk court granted a 15-month plan to the ride-hailing service yesterday. it was revoked last fall. it agreed to stricter oversight from local authorities. >>> 1040 tax forms are getting smaller but no left complicated. a postcard size format will soon replace the current two-page version. the new form does not have room for multiple popular deductions that will be submitted on accompanying work sheaths. >>> and barbie has a career as a robotics engineer. a new version of the iconic dol

turn generates electricity. and leave. through the turbine while maintaining the problem. myself when i put enough. innovative technology in a seawall originally built for one specific purpose to protect the harbor. local fishermen were often thwarted by the strong tights their boats were sometimes unable to reach open water. modernization. now we are completely safe from the power of the ocean was removed. we couldn't have all these new measures for the boats. they just used. and that's vital for the five thousand villagers. the harbor area has been given a new lease on life and the local fishing industry is flourishing again plus the residents directly benefit from the strong tides which are now having a positive effect. the hope is that the technology will make further progress allowing the establishment of more breakwater power plants in the future. from the north atlantic ocean in europe to the coast of south africa a country famous for its beautiful beaches but despite strict rules designed supertanker these natural resources litter is still a major problem. one poss

he was also a stop executive at general electric for more than 30 years.to us about general electric. it's really hard for someone has worked for ge myself. it's hard to watch ge at the price it is and the smaller company it is versus what it was. >> it's heartbreaking to see what happened to this legendary company. 125 years, the only original company still on the dow today. both of us put a lot of sweat equity into it. maria: the market value has been cut in half. >> i don't think anyone would have predicted that we would see it where it is today. john flannery stepped in and he has an unbelievably challenging task to get profitability up and cash flow. that will and big challenge. he had to cut the dividend in half. he put several businesses -- he talked about $20 billion of disposition on the table. he's anticipating while those companies generated cash, he'll get five to six times more cash by disposition to fund pension liabilities, dividend and reinvestment in businesses. it's a tall order to dig yourself out of the trench. maria: are these the righ

general electric's extreme makeover is over. thendiaus iomltr ipa cny health business and shedding i ownership in the oil company baker hughes. the ceo says the move a year-long strategic review that he hopes will get the one-timeether out of its rough patch. investors seem to agree at better than 7%, its best one-day gain in quite awhile. hrngan brennan has more on ge, thegit. >> reporter: it's simpler, stronger ge. that's the vision unveiled by general electric ceo and chairman john flannery today. >> we laid outka a p of $60 billion of potentiallur sources. 25 goes to the deleveraging. thats lea immense amount of surpl surplus, if you will, to deal with leverage and risk going ourward or --know, so i looked carefully at the balance sheet. it's clear we know how to get to the endoint and how we're going to do it and we have think so, you know, i when we spend some time with people, they'll see that. >> reporter: the plan,shab eli viation power and renewable energy. that means spinning off ge's health care business as a standal

. >>> it's the end of an era for general electric the u.s.onglomerate lost its place on the dow jones industrial average after more than a century as a member of that index the company was one of the original stocks on the dow when it first formed. walgreens will take ge's place general electric saw it's share price fall in after hours trade. walgreens jumped higher on the news. >>> coming up, find out why mario draghi surging patience on future rate rises. we'll be live in sintra after this break >>> welcome to "street signs." i'm willem marx. these are your headlines european stock markets rebound from a global selloff that saw the dow wipe out its year-to-date gains amid heightened trade tensions. >>> the relief rally sweeps across asia with chinese sessions closing in positive territory. on the offensive the iranian oi minister says there may be no agreement in vienna as he slams president trump for interfering in the crude market. >> important things, i would like to declare that opec is independent organization, and is not american orga

0rkney was chosen partly because it is a centre for pioneering renewable energy research, generating electricityuced over 120% of its electricity needs from renewables every year since 2012. so this is a place that's basically running on renewables, and so bringing a project like this to orkney makes sense, because it'll be basically being powered by renewables. the data centre is heading ever so slowly to the bottom of the ocean. at the control room on shore, they are getting ready to power it up. now, microsoft will monitor it for up to five years. this could prove to be the future of data storage, or maybe just a tourist attraction for the fish. rory cellan—jones, bbc news, 0rkney. now that virtually everyone has a mobile phone, what should we do with all those traditional old red phone boxes? well, in the town of kingsbridge in devon, they think they've found a solution. the tiny space has been turned into the world's smallest nightclub, as john henderson explains. take your pound coin, put it in the slot, lift up the handset. # pump up the jam, pump it up. # while your feet are stomping and

stock in about three years and by the way this was the first trading day for general electric in over a century that it's not a member of the dollar jones industrial average anymore it got replaced here on tuesday by the company walkways so bit of positive news coming out of the eventually for g.e. against thank you very much. and some good news about tariffs all of a sudden china is slashing tire of some fountains of imports from five asian pacific countries as its trade route with the united states continues to simmer the lower duties will be applied to a list of some into the hof thousand products from agricultural production prob produce metals and clothes shipped from bangladesh india laos south korea and trigger lanka to make note of those some products like soybeans will no longer be taxed all that housman comes five days before the u.s. tariffs on thirty four billion dollars worth of chinese imports take effect. i could have you back up to brant and i know where the even poignant visit at this exactly right here with all the world cup action going on right now britain's prince

here with the company's replacement. >> walgreens, boots, alliance will replace general electric on theial average. and original components, that is how long it has been on the index, the worst performer on the dow year-to-date struggling there, stock shares really going down by 13 points. that is part of the reason why it is being removed but chairman of the s&p index committee said industrial companies like ge, banks and consumers paying a larger role. heather: big drop as well. what do you expect to happen today. >> this kind of rhetoric escalates, and watching that, conflicting reports from the trump administration, tech companies in china today. heather: amazon prime members an exclusive deal. >> started rolling out exclusive deals to amazon prime members at whole foods grocery stores and whole foods stars giving them 10% off of sale items, more discounts if you're in amazon prime member. the whole foods 365 stores as well. a little savings there. have a good day. the time is 15 minutes until the top of the hour in the race to the midterms, donald trump has a special message for mi

imagine what he could do thinking about the ways to send electricity wirelessly or ways to generate electricity thinking of ways to send electricity to everyone around the world even to those who still don't have electric power in fact he was a magician. and would give presentations. thatst a wonder it keeps our beer cold and then to control that. create lightning this is something reserved for nature alone even though not connected to any wire this is a remarkable individual. my third surprise is to present this guy struggle between the present and the future. can, weird or appropriate but he was born during the intense lightning storm at the very stroke of midnight between the ninth and tenth of july. how weird is that? and as a result felt he had some special qualities. and it was stuck between and always trying to balance the realities and envisioning what the future might look like and the year was 1897 and they had just completed capturing the immense power and heat to put through a series of generators and then an amazing 400 miles all the way to new york city. just to give you a sense o

general electric currently in the worst performer of the dow. they are warning that the industrial giant needs to raise cash and cuts its evidengain. as a charlie gasper charlie gast bring a said it was a possibility general electric right now is down to a half percent. once again below $14 per share. we $59.9 million of shares we're almost there. just over $50 billion away. we can have a shares shares of the iphone maker. rocket propellant coming from that. including a major update for siri it's augmented reality. a new lego arkansas app that will let them transform toys into a moving virtual world. he will have to worry about stepping on the lego bricks. i also unveiling another augmented reality including something called measure the team countdown update. they intimated mod's where you can make anything like one of these animals. and ios 12 you can now create you can now facetime group chat top to 32 people. who needs parties anymore. you been watching all of this. the tongue detector. in the point of this is. it's all about getting social a

barrier that had already been built into a power plant so the force of the impacting waves generates electricity. the project has a limited scope so far still the sixteen turbines within the wall produce enough energy to power two hundred fifty homes and a chamber is located in the bottom part of each turbine the waves push the air upwards thereby propelling the turbine. the backflow water again sets the turbine in motion. pretty clever when you think that the wall was originally only meant to protect the harbor and the fishing boat within it. this is going to the native al harbor and that was important of the grovers now we are protected from the force of the waves. if it weren't for the wall we would never be able to talk about all these boats. nor. the residents of matric who are happy but it might take a little more time to satisfy the investors wave energy plans are still being tested but their potential could be shoot. and that's all your business thank you very much for watching bye bye. the way. you can preserve them. and celebrate them to. european traditions. like the i'll smoke in the

the us conglomerate general electric is to be dropped from america‘s most famous stock index, the dowon and known for its many innovations — will be replaced by the pharmacy chain walgreens boots alliance on the 26th ofjune. the switch reflects declines in ge‘s fortunes and the changing nature of the us economy. the commonwealth bank of australia says the federal court had approved a settlement agreement to civil proceedings related to money laundering charges. the company said it will recognise a $518 million expense in its financial statements for the full year to end june. malaysia is expected to bring charges of embezzlement here‘s a scary story. britain could run out of beer and soft drinks! at least if we are to believe the i newspaper. it‘s all because of a shortage of c02 — carbon dioxide — that‘s the stuff inside the bubbles in our drinks. 0ne brewer interviewed by the papers says they may have to stop production next week. with the world cup going on, where will it end? that is your business briefing. see you ina that is your business briefing. see you in a moment. shortly w

there's a big change within the dow after one hundred and eleven years industrial heavyweight general electric is no longer a component off the famous stock market index the company had fallen on hard times mostly due to losses in its insurance business g.e. shares have been on a downward path for years weakening the company's standing as a blue chip and that's your business update here on g.w. thanks for keeping us company. green destination with majestic mountain scenery. various turns on them to each of . you christine you shall receive back. scaling the feet. explosive aches. and indulges his passion for angels customs. next on the human. optimize ation finds to officially intelligence. businesses at any rate are increasingly coming over decisions today on. how to do our revenues make better choices for a better future. for all the machines finally taking up. in sixty minutes on g.w. . make your store t.v. a little smarter with the d w four smart t.v. . what you watch when you want it up to date extraordinary. you decide what's on sunday morning that job costs more t.v. . paulsen changing

melissa, back to you >> thank you let's move on to another big mover, general electric. up more than 5% after announcing its restructuring plan stephen tusa of jpmorgan joins us on the phone. great to have you with us. i got to warn you, we're expecting the president, so i may have to interrupt you. i want to get to your view of general electric the latest plan is not enough deleveraging to move the needle here >> first, there's a couple of key points here. >> it's not a surprise or net negative first of all, on that $60 billion, that is the number that they basically need to bring them in line with their peers when it comes to their balance sheet. and management was very clear about this on the conference call, as well as in subsequent media interviews that $60 billion, while not all committed in what they talked about on the conference call, is for derisking and delevering that basically there are many things that are still somewhat unknowns that will be calls on that value, that will not go to the shareholder, that will go to the bond holder. somehow, a net $5 billion

how comcast still nbc universal from general electric. look today at what those entertainment assets would be worth, this is a deal initiated because of all the problems after the financial crisis because they were selling again about the timing and can you imagine what that would be worth today? maria: at the time, certainly the people at nbc and cnbc felt that there was dealing it. this was such a hot property. >> general electric and berkshire hathaway has numerous company is well-managed. why couldn't they have done the same thing? >> do they have the confidence to manage these? >> a little different in comparison because berkshire hathaway has no one to answer to. there's a lot of little dumpster fires back into the successful businesses. with ge, you know, when you're selling off assets you.so what you want. you sell which you can and what to get the most amount of money from and reinvest and try and fix things here and it just hasn't gone that well. jack was probably got a little too much credit. but then again, you know, it's not

and to cause a generation shift of how we generate electricity and guess who stepped? the supreme court. had never been done in history for the supreme court to enter a stay against the rule pending that the local level but the supreme court did that because of the very much unlikelihood it was lawful what they did. the president also has directed me, scott, fix that rule. guess what's happening in 2018? that clean power plan will go away and swreelclearity across the country on what authority this agency has to regulate in that space and make sure we don't pick winners and losers anymore. watts of it's fixing the u.s. or the clean power plan, cheese are us choosing to make sure regulatory authority is not used to pick winners an losers and we recognize that farmers an ranchers in iowa and mississippi, those who engage in productivity and jobs across the country they want to have clean air and clean water and we're going to work with them to achieve that. here's a news flash. air quality is bet for the this country since the trump administration came. in we have superf