they will downgrade petra fact stock today -- petrofac stock today. whole of it is taken up by oil companies today, you premier oil fulling, janel energy falling,- premier oil janel energy falling. opec is unlikely to do nothing we could see oil prices fall by as much as $10. >> let's turn our attention to brazil. ine political uncertainty the country, the reelected president refrain from announcing the next finance minister although reports in the brazilian press have named a successor. joining us now is an exclusive interview on the current business climate is john mark who is the ceo of the investment bank. thank you for joining us. let's talk about what is happening politically in brazil if we could because as we saw reelection, -- the people questioning how much of a reform agenda there will be as she goes into another term. we had an analyst on a few days ago talking about how the real is going to fall and that will force an agenda, among the people you talk to in brazil is that enough for reform? >> we're just been through an intense election a

petra affect -- petrol is down in london. let's take a look at the other business stories. is -- symantec said it is investigating a new hacking software. the new reagan malware has been used to spy on computers in russia, saudi arabia and ireland. symantec believes it was created by government and has only been used so far to spy on businesses. the u.k. telecom group has been in talks with shareholders of both companies. and the french cosmetic groups has seen profits jump i more than 200% in the past six months. pretax earnings rose to his -- due to increased sales in china and hong kong particularly. >> you mentioned japan a moment ago. i love this last orifice of there is a town in japan that is finding very original ways to generate electricity. >> it comes from takamatsu which is known for its don noodles. there are some out 150 tons of noodles that go to waste every year because they are not the right length or size. companies will collect the swiss for recycling. it is fermented into gas which generate electricity and it is enough to power 50 homes each. >> i wonder

we are not done with this. >> petra, how about you?ctive in working to get reform happening. you know you've been acting on the community level, on the ground level, what are you hearing from people in and around the community about what they feel was missing in this plan, the people maybe that were left out? >> the people who were left out, were grateful that they would, do have extended family members are that are going to qualify for the action presented last night. but they've been part of the movement. they've been part of promise arizona, they've been part of the national movement. they've gone to washington. they've been part of the door-knocking that we've been doing in arizona. our fight will continue. we are going to celebrate this moment. but we also know that there are still people left out and we need to continue until we have comprehensive immigration reform out of congress. >> we know the president mentioned you at some length, astrid last night. let's listen to that. and then i want to ask you what it was like to be fea

petra faxed shares are slumping as the u.k. and gas engineer is the worst performer on the stoxx 600. the company has issued a profit warning. it says that earnings next year will be 25% lower than expected. >> samsung is planning to shake up its top management. analysts are expecting a large-scale change in leadership. earnings are slumping and market share is shrinking. the restructuring, we think, will be announced next month. let's talk about the markets. aat we have seen is continuation of the reaction to what mario draghi said at the back end of last week. the hints that he may go further. extrams of pushing liquidity into the financial system here in europe. that is continuing to push yields lower and lower in the eurozone. what we see this morning is the spanish 10 year down by four basis points. is takes the spanish 10 year yield from 2.01% to 1.97%. we haven't been below 2% ever. that probably gives you a sense of the historical importance of what we are dealing with here. btp is also under pressure as well. what you

brings an enormous wealth of on the ground operational experience in iraq as an adviser to general petrae petraeus. to my left, my colleague a long time student of iran here at karn give. >> thanks, again, for inviting me. i'll just say a couple of things as a way of introduction to what they have to say. first of all, i think if you're looking at the middle east today, my talk is already being provocative. if you look at the middle east today, it's a very different middle east than the one that we grew up in. one of the things that was said about prur u to the arab spring is whatever the deficiencies of the state power may have been, the state governments in the middle east were often corrupt, certainly economically mismanaged, but they have command of their territory. that's no longer the case in a number of middle eastern countries. that's not the case in iraq or in yemen, syria, it's never been the case. this is essentially you're beginning to see the fragmentation of middle eastern states along sectarian and ethnic cleavages. this creates enormous opportunities for a mischiefous acto

but petra brought yields long 58:, acurity's five and russian oil producer yields rather more with a better ratio of income to fix charges. if you're talking about business and finance rather than politics, you see similarities between statist regimes and you look for valuations to discern which is the better or the least risky investment. >> anastasia, what do you think? >> the status regimes, you can extrapolate that to the broader emerging markets whether we're talking about brazil or russia or india, all of them in gauge in energy policies. they have subsidies. they control those natural gas prices closely. to me, the differences, which government is lifting those caps, which once is not? >> with the president in china and all the pageantry there and non-stories. jim grant, i need to get your comment on a global gdp and what christine lagarde says is the new mediocre. do you agree with the new mediocre? >> i doubt think -- we should not be fatalistic about accepting, economics. gdp estimates have gone toward jim grant. >> you can't even count gdp, let alone world gdp. what policy