glencore and a $1 billion shareholders -- a buyback.o the cfo and he said we are going to review and what is setting it apart but to really the dividend was in line and expect expectations. the numbers were beat, pretty positive performed well. >> and see an opportunity in m&a and we all know this one big opportunity. is that going to be the story? >> everybody will like to see less in that space. jesse was talking about in at the time. take capacity, what would it mean? talking about taking a backseat to m&a and does it mean that deal is off the table? >> no, i do not think it is off the table but it would be harder to do. in terms of what it would impact fundamentals and looking at what glencore would be doing. last week, that no taking 60% -- is a announced taken 60% off. when i spoke to him, he said we do not believe in cannibalizing our own markets. how we would operate in one of the leading production companies. >> we go to "the pulse" in three or four minutes a glencore will be in and pact with earnings. >> we have great guests c

glencore has managed to report a small dip. they beat consensus. glencore is a trader.fset, they've been able to counter weaker prices. the market reaction has been fairly negative. down almost 2%. did not return any cash to shareholders. they started a buyback last year. the cfo told me they would consider that. perhaps there were expectations of a buyback or higher dividends. francine: the stock is down 1.8%. maybe investors got used to the buyback. jesse: there were weaker numbers in the second half as well. most analyst reaction has been fairly positive. unclear as to what is going on. francine: that happen sometimes. guy: what happens next. m&a is interesting. the perennial rumor driver when it comes to what happens next. plenty of buyouts. jesse: glencore is usually acquisitive. the ceo has done many deals in the past 10 years. recently they done one deal in the past 10 months. a bit more conservative on the balance sheet. he said they see fewer opportunities out there right now that they can take advantage of. they are reluctant to punp in -- to pump in large amo

the biggest since 2012, since extraordinaire and glencore came together. -- xstrada and glencore cameogether. initially they were agreeing to 1:1. not anymore because wholesome has been outperforming. there we have it. 0.9 wholesome shares holcim -- -- 0.9 holcim shares. bruno lafond was meant to lead the combined units, but suddenly there seem to be a personality clash. the two chief executives didn't seem to be able to get on. they didn't seem to be able to show that -- he is a larger-than-life character. he is chewing gum much louder holcim than the -- than the holcim chief executive. he will be cochairman with the holcim chairman. together they will take the helm. as of yet what happens as of ceo? we understand a lafarge executive has been agreed upon. a candidate has been put to the four, but as of yet, that hasn't been dotted and crossed. they haven't exactly come to the eventual agreement. that is unlikely to be announced today. we know we had that scoop coming from bloomberg at one minute to midnight last night, saying the deal had been agreed in the background. you will see h

we have glencore saying if the price means continue the way they have -- you know, those are at abouthigh -- then they are likely to see volatility through the end of the year and that gives traders a lot of opportunity. mark: su keenan with the commodities report. thank you. right now the u.s. house of representatives voting on funding for the department of homeland security. this has been another issue of partisan rancor on the health. just last week on friday, what had happened was that the house decided to give, along with the senate, a one-week extension. president obama did sign off on that, but as many lawmakers had had before, what this meant was that they would be back at square one this week and that is where they are. we will continue to monitor the story and bring you the latest developments as soon as we get them. in recent months, retailers seem to be playing the big game of musical chairs with management. many have said goodbye to their old ceo and hello to a new chief , and others are still on the lookout for one. does flesh -- fresh blood mean a turnaround? joining me

caroline: $40 billion, the biggest deal since glencore in 2012 p 11 months in the making and they seeompromise in the 11th hour. problems about the financials and about the management when it came to lafarge and holcim tying up to create the biggest cement maker. the first part has to do with finances. holcim wanted the deal sweetened. they felt it should not be one for one in terms of share ratios. their share ratios should get more -- their shareholders should get more. for every nine holcim shares you get 10 lafarge shares and vice versa. they also get their way when it comes to management. they thought that the chief executive of lafarge was not the right man to steer the unit. he is to play a key role, cochairman. they are still looking for the candidate. it will be a lafarge canada and the person has been identified. it is trying to work out when. this is a $40 billion deal across the board. a battle to find this compromise. all of that is surrounding brunello bruno lafond's capability. they promised savings, will they get there. crh is going to be laughing they get their hands

. >> glencore also in the red. >> and president obama and netanyahu clashing over iran's nuclear ambitions ahead of netanyahu's highly criticized speech happening today to congress. >> you're watching worldwide exchange. bringing you business news from around the globe. >> hi everyone i'm seema mody live from barcelona and it's all about the survival of the fittest. we have coming up on the show ceo of blackberry, john chen talking about how he plans to keep the company relevant as it shifts focus from hardware to software. plus the cofounder of htc joining me in around 30 minutes to talk about the latest flagship smartphone and the move into virtual reality hardware. where will the next google or facebook come from? europe? i'll be getting more from phillipe. >>> you're watching worldwide exchange. bringing you business news from around the globe. >> hi everybody. officially good morning. welcome to two hours we have together. we have a lot going on. >> we do indeed. >> good to be back on the show. >> lots of coverage coming. we're manning the fort here. >> exactly. there's a lot taking p

the biggest deal in europe since glencore. they've managed to get through those compromises.ey among them is a compromise about the finances. basically holcim realize they were outperforming lafarge. profit, sales why should every holcim shareholder get one lafarge share? why should a lafarge share holder get one holcim? holcim is a little sweeter than that. they sweetened the deal for holcim shareholders. for every 0.9 holcim shares, you will get one lafarge. for every one lafarge, 0.9 holcim. a sweet deal for holcim. lafarge also there were problems about the chief executive taking the reins. it was bought that bruno lafont the man who smokes his cigars, choose gum, was taking the helm of the company. they didn't think perhaps he was the man for the job particularly to do with his cost-cutting record. now, they've brokered a different deal. bruno lafont will be a cochairman. he will be taking that role with the current chairman of holcim. they come to the floor. who will be ceo of the joint lafarge-holcim team? it will be a lafarge player. yet to be announced, but we unders