. >> a scare in the air o or brazil when an american airlines flight to miami was ford to make an emergency landing. a passenger and three flight after taking off from brazil. it was the second time in a week that an american airlines flight was forced to landver fears of contaminated air in the cabin. a flight from london to los angeles had to turn back to heath row after 15 people fell ill. >>> a million dollars victory for a former walmart employee. coming up, how she says her former employer went after her and the price that walmart has been ordered to pay.>> what a gorgeous start to the weekend. tonight, temperatures are falling again, but not quite as cold as last night. there are a couple areas in the upper 50s. we'll let you know what to expepe as you start your sunday coming up here after the break. >> across t t country, it's america's favorite jackpot game. get ready, everybody. this is powerball. good evening,merica, i'm sam arlan. tonight we have an estimated $97.9 million jackpot for you. get those tickets out. good luck. it's time to see how you did. wewe've -- and right afte

we are recommending they take long sleeve apparel and the use mosquito or>> brazil is considered to be babies have been born with smaller than average heads. >> i do think what led to increased and appropriate concern is talks of a vaccine are underway. do not expect it overnight. >> it needs to be slow to be thorough. we do not have a vaccine at the moment. we're looking at a multiyear timeline. >> time is of the essence as the country prepares to host the summer olympics. all venues are being fumigated until a vaccine is reduced. the best protection is avoiding travel to affected countries altogether. tisha: everything you need to know is online right now. symptoms associated with the virus and how you can protect yourself. just look for the story on the homepage. what started as a student water balloon fight is a battle with the administration. several students were suspended after a water balloon fight broke out. students say they were surprised by the suspension. they tell us it was part of a tradition. the principal says they warned students not to go through with the wet war. sh

if you look at that, in the united kingdom or the u.s., china or brazil, returns on investment and educationndividuals is greater now than at any time in human history. francine: one of the biggest shakeups in the media world. "the financial times" and "the economist," two brands that pearson sold. this year. after the break, we talk acquisitions, strategy, and leadership. john: if we can find acquisitions that create quick and immediate value to shareholders, and long-term sustainable opportunities as well, we will take them. francine: more from the ceo of pearson, john fallon, when we return. ♪ ♪ francine: welcome back to "leaders with lacqua." publishing group pearson will gain nearly a billion pounds from the sale of the "ft" and "the economist." but, what will it do with the money? john: if we can find acquisitions that create quick and immediate value to shareholders, and long-term, sustainable opportunities as well, we will take them. but, we don't need to hurry, we don't need to rush, and we will do that in ways in the context of returning capital to shareholders. francine: do you wo

so far the markets in bear market territory were ems like china and brazil or commodity linked like brazilin or canada. japan entering bear market territory this morning. that's a developed market and net importer of oil. does that point a picture that we're likely to see germany and the u.s. follow suit for example? >> it raises some of the pressure because i think what you see, to me anyway the signal is that flight to safety puts that upward pressure on the yen. >> it's like the whole world does. >> a lot of it is you just see this consistent signs of risk off. we kind of moved out. started in the commodity currencies et cetera and it's definitely headed out in to develop. so you're right. >> it does feel like it's hard to bin point an exact reason for all the selling we have been seeing globally. all of these trades that highlighted the bull market. rally in stocks. rally in oil. rally in the dollar against the yen. all of these things that were the highlights of the bull market and was much faster on the way up. that's what is scary is what exactly that looks like. >> i think what you

hp has cut its iron ore guidance after a disaster in brazil shut down operations. production in the 12 months until june is forecast to come in at 437 million tons. marco has been halted since a , described as the country's worst ever environmental disaster. it cut output guidance by 10%. the brazil disaster and commodities rout have dragged bhp shares down. it rebounded yesterday from its lowest close in a decade. today istock falling to its lowest in seven years, announcing it plans to cut production for the first time in nearly two decades. it is trimming output by as much as 5% to cope with a slump in crude. the explorer is starting a shoject this year but will sla spending to $9 billion, lowering cap by 10%. the stock has been hit in recent months, down 15% this year after plunging 35% in 2015. rishaad: coming up, taking the plunge. turmoil,ese markets in is this the time to be listing? several companies set to test the waters. more on that after this. ♪ rishaad: asian stocks resuming declines with energy shares sliding. bilton is head of global strategy at j.

that mean for >> reporter: the cdc is warning people to be alert if you are going to latin america or brazil. one of the countries where this outbreak has happened. if you are going on a cruise out of tampa it is important to make sure that you have everything you need to be prepared. this is especially important if you are pregnant. because the zica virus can cause birth defects in babies that leads to smaller than average heads and underdeveloped brains. those that get zica can get rashes and flu-like symptoms. only 20% of people infected will see any sign of the virus. >> there is a lot we have to learn about this. that's what we are trying to do by sending our team to brazil to learn as much as we can about what's happening there. >> reporter: the cdc is urging pregnant women and those trying brazil and the other latin american country where is zika has been a problem. virus. rather than being sorry it is better to be safe and make sure you are armed with mosquito repellant, prepare yourself and take care of yourself in one of these countries that has this outbreak. live in tampa emerald

everyone needs to eliminate stagnant water, or brazil could lose the war mosquitoes.resc global newsurs a day powered by our 2400 journalists and more than 150 news bureaus around the world. back to you. betty: while you were speaking government the dow just hit 335her session high, points. if we are trying to close at the top of the session we head toward the closing bell and let's get to abigail what want and what is happening in the nasdaq. >> it is certainly a rally today, but on the year and on the month not so much. date, at 10% from last year's peak about putting the mastec in correction territory. behind this bearish tone are two tech names. deeper intottle each, apple is by far the biggest point drag on the nasdaq, down by about 7% year to date after ongoing fears around slowing iphone growth were confirmed when management offered a sales growth drop for the march quarter. the first since 2003. the question going forward maybe whether or not that march guide is the bottom, or whether investors will worry about the june guide. after the fourth quarter to point it, and the com

stay north, for those who need to go to upstate mexico or brazil. we spoke to an expert who told us that your best bet is making sure you get insect repellent, get something with deed and the percentage of deet. >> reporter: the concerns over this tiny insect are real. brazil is claiming thousands of babies have been born with brain injuries after their mothers were bitten by mosquitoes. officials there are urging women trying to get pregnant to wait until the crisis is under control. but the concern is what is - - what happens if you travel those climates? it's mostly in the americas but also includes the united states. >> it goes far north as the carolinas and the southeastern states, particularly florida and texas. >> reporter: jennifer believes it is only a matter of time before the virus spreads north beyond mexico. a mosquito with the virus may bite you and spread the disease. >> this mosquito prefers to blood. >> reporter: they are also concerned about the possibility of paralysis. >> the important thing to remember is that these are daytime

so if you have got -- if you have a country like the united states or brazil or argentina that have age cattle and beef industry, you're going to see a lot more pressure put on then you do in other countries. say the u.k. has some beef, but much less, they in the european guidelines recommend eating less red meat. upon how depends powerful the industry is asked to what happens. and you did ask me the question, does it matter what the government recommends? it does., biggest the public the message, but it also influences school meals that we feed ourhildren. these thgs are rlly imrtant conseences f the and hlth of our nation, we shouldn't take them lightly. amy: the major purchases made by schools, for example. on the issue of the trade agreements, like the tpp, many are concerned about the issue of meat labeling, with the tpp, for example, get in the way of talking about origins, country origins of the meat you might be eating, professor? >> they might. we don't have the details of the transpacific partnership but there are lots of concerns, concerns about tobacco, alcohol, food label

if you are with russia or brazil, that said, i am very concerned about china. others agreeing with you, that we need to rationalize our debt, our private debt, or public debt. give us a scorecard. how are they doing rightsizing debt? ken: i think we are in the middle of what we call a dead super cycle that started in the cycle-- in a debt super that started in the u.s., went to europe. it will yen the day. if you look at the u.s. and the -- , they are not quite as francine: you are probably more bearish on market consensus in china, and that means that it will hurt the rest of the world? ken: if they had a floating exchange rate, there would be less trouble in china. one of the embarrassments for china is they are pretty competent, that nobody can can control thebody can exchange rate attacks, the stock market. so if you are trying to get your credibility out of controlling things you cannot control, you will look -- tom: we have the ruble threw two record -- we have the ruble to record weakness right now. david wu at bank of america, merrill lynch, it is a 7 fo

. >> reporter: cdc is alerting going to brazil or latin america. if you are going on a cruise from tampa any time soon make sure you have everything you need to stay safe and to stay healthy. this is especially important for pregnant women because the zika virus can cause birth defects in babies that lead to smaller heads and underdeveloped brains. symptoms are rashes and flu- like symptom. 20% of people infected will see ever a sign of the virus. >> there is a lot we have to learn about this. that's why we are sending our teams to brazil. so we can learn as much as we can. >> reporter: there is no cure for zika. it is a lot better to be safe than it is to be sorry. make sure you have mosquito repellant with you where ever you go. foreign country you might be visiting. >>> dirty grandpa opens tomorrow night. it stars robert de niro who tricks his grandson to go with him on spring break. >> i don't understand why we have to drive to florida after the funeral. >> seems like we are cutting it close with a rehearsal brunch on friday. >> i need the suv

watching this and they're going to take that trip down to the bahamas or puerto rico or wherever or brazilthey got to think about that before they go, especially if they're pregnant or trying to become preg innocent. >> a few isolated incidents from those folks that have traveled to those places. there's been no transmission within the 50 states and hard to test for, too, correct? >> it is very hard to test more. and we think that there is a correlation and a positive test in puerto rico which is obviously united states territory but not part of the continental united states. but, you know, just like we have had all types of transmission of viral disease in the united states, including west nile virus. those things happen. and it's going to come. it is just that how can we get in front of this thing so that we won't have that huge spike in defects in the children? from 150 to 3,500 in 1 year, something's happening and we have to get our arms around this so that we can protect citizens. >> doctor, thank you for joining me today. i appreciate it. >> thank you, thomas. >>> well, nobody knew u

of these ships, be able to find something that may have left the west coast of africa or something that was in brazil or the caribbean so what our goal is is to use the sal jose as a launching pad for what we hope will be a many-year project begin to understand maybe one ship at a time how complicated, how large, how essential the slave trade is to our understanding of who we are globally today. >> and i know as you looked at some of those other wrecks, the ship, the recovery effort, was kept under wraps for several years out of fear of treasure hunters or others coming to the site. are there other projects that you're currently working on that are also under wraps right now? >> well, we're working in a number of areas around the world. our partners with the national park service and their submerged resources center, we've actively begun to do surveying work in and around st. croix and the u.s. virgin islands. we know of archival material that document wrecks there. and we began a process with them in the lead really in terms of beginning that process of survey and the smithsonian is coming in to beg

. >> if you've purchased a plane ticket specifically to brazil or other areas impacted by the virus, all you have to do is call. united says any customer can get a refund or reschedule their flight without a change fee. american airlines says it will offer refunds only to pregnant women. that's because the zika virus in pregnant women, it can cause serious birth defects. >> uber wants to keep a closer eye on their drivers. they're testing the program. in north carolina, uber says it figured out a simple way to keep drunk passengers from distracting their drivers. they put toys in the back seat to keep drunk passengers entertained. that is hilarious. i've never heard of that toy. >> i don't think they've ever seen a drunk person with that toy. that could be very distracting. >> forgot your debit card at home and need some cash? one bank says no problem. >> jpmorgan chase says by the end of this year, all you need is your smartphone to make a withdrawal from the a.t.m. the bank is upgrading its entire fleet of machines this year. one of the perks is a new function that will allow custo

emerging markets have -- with you look at brazil or russia as conserve, that has taken that's it foradng business. asia edge is next. ♪ announcer: from our studios in new york city, this is "charlie rose." charlie: he is a wide-ranging voice with the force of an entire brass section, or possibly windtunnel, distilled into a single instrument. book that written a chronicles his legendary career. it is called "over the top and back." he has just released his 41st studio album. here is tom jones in our studio performing "elvis presley blues" from his album "long-lost suitcase." ♪

for example, any country like venezuela or brazil, russia , that are exposed to commodities are actuallyn. that is probably going to continue. india is a bright spot. china is dealing with a number of issues that are not cyclical. they will take years to deal with. overcapacity in their industries come overleveraged, aging population. this transition they are trying to make from export driven economy to a service sector consumer economy is going to take many years. i think the u.s. and the world is going to have to get used to lower rates of chinese growth and i think the world is adjusting. it has implications for commodities prices are you some applications for u.s. gdp. it hasn't locations for u.s. domicile -- it has implications for u.s. domicile of companies. michael: robert kaplan was well known at goldman sachs and harvard but as a policymaker people do not know where you are necessarily coming from. would you characterize yourself as a hawk or dove? robert: it may be too soon to say. i probably consider myself as a business person as a centrist. open to i am quite looking at new

there is another scenario which is more negative, that would mean more years of low growth or recession. we think brazilaken the right measures so far and we are confident that after maybe 2015, and 2016 or half of 2016, we will see growth again. the currency has, you know, depreciated significantly and this will allow exports and volumes to grow hopefully in the next year. not now, but a year forward. francine: how much do you worry about currencies? do you have a fair value for the euro? at the moment, it looks like it is going all over the place. and this will have an influence, of course, on santander. ana: so, currencies have been positive for santander this year. there will probably be a negative effect on our p&l next year, right? because of the latin american currencies. so our businesses, we expect to do very well, but we will be dragged down by the currency when we convert our earnings into -- into euros. we hedge our capital 100%, so that is not an issue. it is very difficult to know what the fair value of the euro is. i do not know if it is 115, or 112, 118. usually currencies tend to oversh

or your advisor t. rowe price. invest with confidence. >>> the world health organization trying to decide whether to declare a medical emergency over the zika virus. all patients who traveled to brazil or other parts of south america where the virus is spreading rapidly. it has been linked to birth defects called microencaphaly. still experts say it is too early to know for sure if zika is to blame. >> it could be zika and some other factor or zika alone. we just don't know that. >> pregnant women should not travel to countries where that virus is spreading. >>> the family from alabama is suing disney's animal kingdom. they say a snake dropped from a tree in the park and bit a boy. that led to the death of the boy's grandmother. the grandmother saw it bite the boy and she went into cardiac arrest and died a short time later. disney said the animal was wild and there was no call for an ambulance for the grandmother following that incident. the boy is doing okay. >> very scary. we're in for for much warmer temperatures. amelia is tracking how that could cause potential flooding. >>> here's a place to keep the snow for as long as possible. we'll be right back. (elephant sound) there's

. >> reporter: as yet there's no vaccine or treatment for the zika virus. officials in brazil, colombia and el salvador have taken the unprecedented step of advising women not to get pregnant at all for now. zika is carried by mosquitos that carry dengue fever and other diseases. mosquito eradication promise like these are all the more important now >>> joining me now to talk more about this is david freeman, a professor of medicine and epidemiology. we should point out that the zika virus was first discovered in the 1940s. just explain to us how this particular strain has spread and why now. >> the strain reappeared, it was discovered in the 40s in africa. it popped up again in the south pacific in 207 and then spread to tahiti a couple of years ago, and then all of a sudden it popped up in a big way in brazil in february or march of last year. there is a hypothesis that it had to do with all the visitors for the world cop. these people had the virus in their bloodstream. the same transmit very many viral deceases dengue fever also exist in a significant way in brazil. so tha

or brazil. >> i have not seen any advertising. >> they started to do some beta testing. >> what does like >> it's a promoted periscope. interesting. so you have that. you have periscope as well. you have vine as well. this should drive more traffic. now in addition to that you also have increased monetization. they are doing retargeting. you're expanding off of what is a 300 million user base. so for a total base of 800 million. as that starts to green turn around. going towards more of a platform user system. >> how much of that is outside of the eco system and does it matter? >> it matters only with respect as far as the monetization. thesers are the ones going to twitter. not log in. that's 800 million people a month coming to twitter. what you need now for this stock to work you need to show a proof point and show users can grow again. grow from more than just a couple million per quarter getting back to double digit. as that gets bigger, more advertisers will come. >> what's the fares price for the stock? >> $34. >> 12 months from now? >> one thing jack dorsey announced in the p

or serious difficulties of brain function. >> reporter: officials in brazil say the country normally sees about 100 or so cases of the defect each year. that number increased this this past yearar to more than 3,000. there is no proof z)ka is the cause, but infectious disease experts say it's likely. now the cdc is actively working on how to advise those who plan to travel to the affected refugee ops. a few cases of the virus have been diagnosed in the u.s., all in patients who had recently some sxirpts s experts say it's possible they could spread to states along the gulf. erika edwards, nbc news. >> there is no vaccine to zika, but they are currently working on one. >>> the news at 5:30 continues next. >>> police say they're behind at least three bold robberies in just three days. how deputies were tipped off to the couple that threatened to set their victims on fire. and why police say they wanted the money. >>> plus an youdoutlandish crime in tampa. >>> now on 6, gas mb with an candidates busted. a couple accused of the scary crimes nabbed. good evening. i'm trina robinson. >> and

long sleeve apparel and the use mosquito or pellet -- repellent that uses deet. >> brazil is considered to be the epicenter. babies have been born with smaller than average heads. >> i do think what led to increased and appropriate concern is the pregnancy outcome. >> with no immunity or cure talks of a vaccine are underway. do not expect it overnight. >> it needs to be slow to be thorough. we do not have a vaccine at the moment. we're looking at a multiyear timeline. >> time is of the essence as the country prepares to host the summer olympics. until a vaccine is reduced. the best protection is avoiding travel to affected countries altogether. tisha: everything you need to know is online right now. you can read about the typical symptoms associated with the virus and how you can protect yourself. just look for the story on the homepage. what started as a student water balloon fight is a battle with the administration. several students were suspended after a water balloon fight broke out. students say they were surprised by the suspension. they tell us it was part of a tradition. the pr

we have zika in other parts of the world, yet we have not seen any cases outside brazil apart from the two or three which occurred in the u.s. but where women travelled to brazil in their early pregnancies. it is to establish, and we're working with organizations around the world, to establish what the cold factors are because something, this - we know way too little about zika and the issue of small heads >>> thank you very much for talking to us here. bolivia's president has delivered an address. his speech comes ahead of a vote on a referendum that could see him running for another term. >> reporter: honoring the mother earth. it is the religious center of the ancient culture. we see the symbols of power here when he became the first indigenous person. a decade later he is back to celebrate and thank the people. >> translation: i don't know how long 10 years have gone by working for our revolution. 10 years of changes. brothers, leaders, reflect. you have given us the stability that brought prosperity to the country. >> reporter: his supporters say he has been one of the best presidents th

. >> explosions in places like brazil or venezuela. >> or saudi or whatnot. i think if you look at where economic growth is going to be in 2016, you have larry summers and others saying recessions come every six or seven years on average. we're increasingly due. but china is the big mover here. it's the most volatile, the most uncertain. it's also the country where the government has by far the most tools to kick the can down the road, if they want to, and they do. they really want to forestall that instability. coming out of china is much more state intervention if markets start looking softer, which means that globally we should expect the six or seven-year average actually becomes longer. but when recessions hit, they get much larger. >> we've got 90 seconds for chief of you. ann marie, what do you think on china and the world? >> so the first thing is i think this is a year that trans-pacific partnership will go through. the reason is it's going to be seen in a more security context than economic context. isis helps there. china is maneuvering in the sout

zika has been linked with birth defects and/or logical problems among babies in brazil. the meeting will take place monday. we have one confirmed zika virus case in our area. week, a police officer pulled over a car that he thought was driving erratically, there is a good reason the driver was not focused on the road. she is resting now, but baby joshua was ready to go at 2:00 this morning. >> i'm supposed to go to fairfax, but the baby came. stephen: her contractions came fast and strong. she knew the baby would arrive otherince she has had two children. she told her mother maria to get her to the hpital, but joshua was in a hurry. she was frightened. she was driving down the street. she acknowledges that she was driving erratically. she pulled over right here. behind her, police officer michael garcia. when he went to check, he was called to action. >> i said help! the police goes, what's going on? i said the baby might come out. he saw the head. i pushed one more time in the baby came out. stephen: garcia delivered the baby in the car. tonight, the mother and six poun

the ballet look at of brazil and compare it to that of russia, one of the issue is clearly on a microeconomic basis markets. is anybody clear out the oversupply of oil this year, orussia go down in flames? chris: what we look at is the combination of economic vulnerabilities to the drop in commodity prices, to a lower oil prices environment. we look at the political capacity of leadership to react to the shocks and move forward on an economic reform agenda that can reduce vulnerability not only to commodity experts but more importantly to move on reforms that can increase growth potential. on this front, we are more bearish. we are more bearish on russia medium and long-term because we see politics deteriorating. in brazil, we see that this year is going to be particularly more negative. francine: going back to what you were saying about brazil, you say you expect an impeachment but you expect her to survive it. you say she will be weaker, but will it tilt her to the left? what kind of policies will we see out of that? is a very good question because there is a silver lining to what we see as a deepening economic crisis in brazil. we do not see the president movi

>> you know that whether it is brazil or china, they are going through significant cyclical adjustmentsmost of which has to occur. brazil probably had data that was a little too long. it has to go through its correction, but we don't think it is long-term. if there is an industrial renaissance, is labor going to participate? when does labor get its fair share? >> when you say labor, do you mean unions? labor,nions, capital and corporations -- when does labor get its fair share? they call point, what the industrial revolution 4.0, t he whole digital world now is impacting not just the internet and social media but also impacting manufacturing and operation. you are exactly right. every company has had all the major manufacturers rethinking, from the old frederick taylor days of how things are made in the factory to a new way of doing things, including much more designed for assembly, or robotics, more automation. to your point ou around will be a more knowledge intensive manufacturing environment, which means you have to pay for capability. i think there is opportunity. tom: keith, thank

a significant event when it comes to the state of brazil or the country of brazil. >>> number of big today pushing stocks higher now. street talk is on deck. we'll show you when ones are moving. and an ugly january, but not for one under the radar stock. it has been soaring this month and analysts expect a bigger move from here. we'll tell you what that under the radar name is next. stick with us. thanks. ♪ [ male announcer ] fedex® has solutions to enable global commerce that can help your company grow steadily and quickly. great job. (mandarin) ♪ cut it out. >>see you tomorrow. ♪ hii'm here to tell homeowners that are sixty-two and older about a great way to live a better retirement... it's called a reverse mortgage. call right now to receive your free dvd and booklet with no obligation. it answers questions like... how a reverse mortgage works, how much you qualify for, the ways to receive your money... and more. plus, when you call now, you'll get this magnifier with led light absolutely free! when you call the experts at one reverse mortgage today, you'll learn the benefits of a

government is warning travels who plan on visiting placesike brazil or certain areas of the caribbean about a viruruknown as zika. this is linked to birth defects in a few cases. the virus is spread from mosquito bites. zika could spread from latin american countries to warm, generally wet climates like here in florida. pregnant women at this point. >>> good morning, right now miami beach police are looking for a driver of a mercedes who they say hit two people as they tried to catch a cab on collins avenue. it's still blocked off around espanoa way. this is video of the two victims being transported to jackson memorial hospital. one is wittcritical, the other in good condition. the mercedes popped the curveb and hit the men and took off. the mercedes will be missing the driver's side mirror. for now in miami beach, michaha spears, nbc 6 news. >>> also this morning, police are investigating a suspicious death in hialeah. a woman was found dead in her apartment. it is not clear how she died. no word yet on her identity. >>> breaking powerball news. in munford, tennessee claim they have

brazil. capitulation or more pain to come. >> daily swings the ax. barclays is set to cut more than 1,000 jobs at its investment bank. >> the shares of the electronics maker climb as they offer $5 billion for the struggling business. >> how will the oil price play into this afternoon's rate ecision. welcome. >> a warm welcome to the break. it's 6:00 in the morning in london, 7:00 if you're watching. let's talk about the global markets. in asia, a little more mixed in terms of equities and other risk assets if we can call them that. sadly the story of the last 24 hours, how many markets are in bad territory. >> it is my favorite word, the fragile 40, we expand the equity markets to the fragile 40, china, the u.k., canada, to maim in the 40 club. we look at 63 global equity markets around the world, $27 trillion locked up in bear markets, 40 are in bear territory. 19 equity markets that have slipped between 10% and 20%. that's a correction. the bears have it for the moment. the fragile 40, who expected we would expand it this far. >> big names are talk

have to do with religion and history of slavery in the united states that manifest differently than brazil orfrance. or russia or germany or india or vietnam or argentina's supreme need to be attentive. >> they do think america is exceptional but not for the reasons that people usually say. is the place where they can become the people they could not have been because of poverty. that is what we have to remember at the same time throughout history ended different times. we are exceptional while only in the way every country has its history. moving to the best ideals that we have the right to for the rest of the world. >> to think internally the west is different with the regional variations within these united states and with that variation across the country. this says something you constantly push against? >> i am from north carolina. the nimby both have written whole history. meant in a particular region one of the things that made the collaboration important. we have a second nature of what it was like in chicago the retried to be sure to give equal coverage. many american history textboo

going to be a lot of fat tails geopolitically that will have market -- >> imploss in places like brazil or- >> or saudi or whatnot. i think if you look at where economic growth is going to be in 2016, you have many larry summers and others saying recessions come every six to seven years on average. we're kind of increasingly due, but china is the big mover here. it's the most volatile, it's the most uncertain. it's also the country where the government has by far the most tools to kick the can down the road if they want to, and they do. they really want to forestall that instability. what you're going to see coming out of china is much more state intervention if markets start looking softer, which means that globally we should actually expect that six to seven year average becomes longer but when recessions hit, they get much longer. >> we'll muddle along. 90 seconds each of you. what do you think on china and the world. >> i think that is the world the transpacific partnership will go through. and the reason is because, again, it's going to be seen in more of a security context than an ec

look at brazil or some of the policies came late and there was some volatility around it.ct that to gain traction. we see stimulus that will start to kick in. the sovereign funds will start to play a role. for the first time we had privatizations in german telecom. it turned out to not be a wise policy and they're not going to go there. whether they devalue the yuan or not, they will have deflationary pressures coming from oil and from the china story. is that the main risk we are facing at the moment? have tried toks reflate the economy for some years and have been successful in doing that. they have also tried to reinvigorate growth and have not been so successful at that. what used to be tailwinds from demographics added advantage is of growth and it turned into --lwinds and it's hard to china, in my view, will go through a correction that is ongoing. but they will come out stronger. we just announced that we will more or less double our headcount because medium to long-term we see huge potential from china. if you look at service sector growth, it grew at 8.5% in the f

or four years. and there's a lot of places on the planet. brazil's been very difficult for two years. china's been declining for two or three years. the whole eastern europe and russia has been very difficult for the last couple of years. we've already taken a lot of pain here. >> you've got a target price of 60 on it today was about 58 that suggests a pretty flat year if i'm quoting you correctly. are there other companies in this big equipment industrial area that you like better for stock plays for '16? >> similar to what ann said earlier, that the two that i think are my topk picks are itw and carlisle. those are more diversified industrial companies. they're growing somewhat through restructuring, somewhat through acquisition acquisition, a really had some of the best managem teams. the more cyclical companies, there's not a lot you can do just waiting for markets to get better. >> kind to have dove tail on what tieyler was saying as a long-term investor would you be moving into this stock at this point? if you have a long-term time horizon? or no not yet. >> it's a little early.