investec has issued a bearish note citing the company's growing debt stockpile. we have vodafone shares under pressure after the company says its discussions with liberty global have now been terminated regarding a possible exchange of assets since they can't seem to agree on terms. the opposite direction nordisk shares are approving the long-acting diabetes drug tresib. in mna news, sabmiller trading sharply higher today. up 3.25 after they reported ab inbev could be bidding for the company. >>> president obama will address the u.n. general assembly today at 10:15 a.m. eastern time. the president will also meet with russian president vladimir putin this evening, their first face to face meeting in nearly a year. that is one highly anticipated meeting. >> carolyn, that meeting could be the most important news of this whole trip. the two are at odds but president obama hopes his message of unity to the u.n. will be heard by russian president vladimir putin. president obama spoke on sunday to a sustainable development summit at the u.n. ahead of his address that wi

investec is a little more bearish, although still bullish considering where the pound is trading. each and everyone of you take a very different view on the commodity market. i'm just wondering why everyone is finding it so difficult to find a consensus on how to value glencore, sitting out this morning. maybe they should just go private again -- is that a scenario that you think of play out? marc: the issues that glencore faces, in our view, if this environment continues, and all the many they generate goes into debt -- what is left for equity holders? there are no more dividends to, telly can take more action. at some point, yes, it will be tempting for a long-term strategic partner, along with management, to think that the best places to go private. javier: you think that the metrics they have announced are enough? marc: yes, if they are all implemented to the full extent, they could get glencore to where they need to be. as poor prices. dividend in the equity issue, the easiest moves to make. cutting working capital, standing assets, are achievable but not without ramification

investec dealt another blow yesterday. there was little value for shareholders if low commodity prices continue to persist. >> well, the glencore bears may be circling but some analysts are waving the white flag. it is an overreaction maintaining it's buy rating. dan scott vice president of investment strategy and global research joins us in zurich and we're joined in studio by the head of global natural resources at investic. let me kick things off with you because the note or the quote that really scared a lot of investors, equity investors was if major commodity prices remain at current levels nearly all could evaporate. were you surprised by the reaction you saw yesterday? >> we were surprised by the reaction but it hit a nerve with the market as a whole. that's the most important thing that high levels of debt are of great concern when commodity prices do what they're doing right now. we were very surprised to see that much of a reaction. the report was on all four majors but glencore was an extreme reaction. >> dan,

if they remain at the levels investec says absent substantial restructuring nearly all the equity oflencore is sliding. the company was taken off its earlier lows. since then they've sort of been in free fall since then. they're now down more than 1/3 from the september 16 close. do keep an eye on the shares now off by more than 10%. >>> let's move on. pro independence parties in catalonia have won a majority of seats setting the stage for talks that could break them away from spain. let's get back to julia in barcelona for all the information. jules. >> reporter: the pro separatists did get a majority in parliament. the question is did they all work together to bring the idea to fruition. we'll have to wait and see if a coalition is forming and a declaration at some time in the future they intend to become independent. the other thing is the vote was split. the pro separatists didn't effectively take the popular mandate. they only got 48% of the popular vote. that's also perhaps an achilles heel going forward. my talking to people over the last week and in the past few days, i was q

chief economists at investec. >> the u.s. senate will vote 10:00 a.m.rn time on the bill to fund the federal government through to december 11th. this is a stop gap measure which does not go after planned pas parenthood and should pass with a simple majority. the house should pass it by the end of this day and that avoids a government shutdown at midnight. the house is also scheduled to vote an an amendment to defund planned parenthood but that's not expected to get past the senate or president balm ball's desk. leaders in congress have open discussions with the u.s. president about a possible two year budge deal. now the wall street journal is reporting that the gop wants to avoid repeated fiscal crises and a spending fight in the middle of an election year in 2016. the talks aren't expected to be wrapped up before house speaker john boehner leaves office at the end of next month and it's also unclear whether the majority leader kevin mccarthy is expected to be the next speaker. he'll even take part in these negotiations. >> for the 7th time switzerlan

sent shares below 100 pence a piece for the first time ever and then throw in what happened with investec saying there was a little value for glencore shareholders if these low commodity prices continue to persist. >> alcoa shares plans to split into two different companies saying it would be better off apart giving shares a boost. he explained that decision. >> you have two very attractive companies. both already fortune 500 companies. we basically got them to scale in strength. they're both competitive. they have a different profile and in future you have a choice between both of them. >> meantime, volkswagen is lobbying for diesel inventives could help the investigator's case according to reuters. nancy, how so. >> well, what this report suggests is that if lawyers can prove that volkswagen lobbied with the intent of getting these tax rebates which in the neighborhood of around $1,300 for each vehicle that they knowingly were intended to put the software that helps these cars cheat on emission standards in order to get that tax benefit spur sales for these cars which was a crucial part