ceo speaking exclusively to ryan chilcote in vienna. there are some suggestions to why we may not get a supply cut. we may hear from opec that the cartel will stick more closely to its pre-decided output target, which could translate into some kind of cut. whether we get that far remains to be seen. ryan chilcote monitoring the situation over the next 24 hours. let me take you to the other big story we are monitoring this morning. presidentmission jean-claude juncker has been speaking to the european parliament. he has been unveiling a plan to fund 315 billion euros in new projects. tois another attempt jumpstart private investment in europe. let's get the details on what we know and the questions that need to be answered. hans nichols joins us from berlin. we knew the parameters of what was going to be expected here. that reallyget here is going to make a difference? >> that is really the big question. what we got from juncker here is a confirmation that their ratio is 15. for every 15 euro the eu puts in, they think they will be able

ryan chilcote managing to color the ceo. it seems russia does not mind if this price becomes $60. they say they can handle it. we have saudi arabia adding its voice, saying they don't see a need to cut reduction with them or the united states. all of this putting so much pressure on the oil price. let's have a look at what it is doing to oil stocks. could that be sending some oil related stocks lower on the back of oil prices. similar move that the french oil maker total. keep in mind also some concerns a trialing potentially in france. claims of corruption related to iranian contracts. bp trading lower. all of this really showing what oil concerns there are. let's look at some other stocks today. thomas cook unchanged, maybe waiting to open because herriot green is to lead. i really surprise move. she moves with immediate effect. she says, my job is done. i have increased market capitalization of thomas cook more than 1000%. she has taken it from 148 million pounds to in excess of 2 billion pounds. she says she wants a fresh challenge, but why leave so abruptly? the company sendi

ryan chilcote will be they're trying to get the information as he always does.till with us is antonin jullier . about thelking before price of oil. you said, the price of oil is not all that bad. costsns that productivity come down for companies. is there a danger that this goes down to $30? cases, in many volatility creates ripples. i would agree with the last comment ryan made. a lot of the bearishness seems to be priced in. performance of oil is down 30% in the last months. positioning,ative something extremely similar on the equity side. the underperformance of oil versus the market is at the maximum. there seems to be a lot of de-ment to say they can correlate from the oil price. a lot of the bearishness is already reflected. a potentially more interesting decision is what happens within the oil complex. reasons this got so much attention in the last few months is because there was so much issuance on the credit side of the u.s. driven by the oil complex. that has started coming down. we did see actions on the credit as well as the equity side. the majors w

i know what ryan chilcote would've said. he would've said vodka. it comes as investors turn a cold shoulder on russia. 52% chose the russia/ukraine conflict as the greatest threat according to a bloomberg global poll. brian chilcote joins dutch ryan chilcote joins me. will we see more sanctions? >> we will see more sanctions. the meeting began a few moments ago. it is a question of what kind of sanctions we will see. we were told they will be personal. an expansion of the left of individuals such as travel bans and asset freezes and specifically, we expect the eu deems connected to those november 2 elections that took place in the east of the country and people the eu deems as having a role in preparing those to the list. will he go beyond that? will the people within the president's inner circle? business people? you were talking about danger from russia as something the ukrainian president has been hitting on. where he settled right now the east of ukraine is the most dangerous place on earth and it is more of a direct dan isis -- more cigarette

with sanctions of the agenda thomas r russian expert is ryan chilcote. in this overall discussion at the moment? what is on the table potentially for sanctions, first of all? >> there are three options. the first is to expand the list of individuals who have been sanctioned. the german chancellor talked about that earlier last week on the back of the election we saw that the west said was illegal. individuals involved with preparing the election should be sanctioned, she said. we have appeared to move beyond that now when there is more chatter about economic sanctions. those could take two different shapes. one could be an expansion of the company's facing restriction. for example, russian companies and their ability to access capital markets. we could see a number of names the last thingon is we could see more restrictions on what western companies can do in the western market. take bp for example. a russian oilr in company. for example, one thing they could do is say you can no longer get evidence from your state in that company. that is something they

ryan chilcote has the latest on the russia angle.he leaders agreed on a gdp growth target of 2.1 percent by 2018. it sounds great. it is very ambitious. a lot of people are asking, is it achievable? yes, they're in lies the rub. it is always the case at these summits. liesulf between -- therein the rub. an improvement on what finance ministers were asking for at the start of the year. yes, it iss, possible, but they have to implement those policies they discussed. here is what christine lagarde had to say. >> it is great. it needs to be implemented. our job will be to monitor country by country, action by reform,reform by whether there is delivery or not. we will dutifully report as publicly as possible so everyone can understand who is doing what and whether it contributes to growth and jobs that are very much needed. target age is a long way off, but already the hurdles are piling up. the us trillion prime minister tony abbott was complaining to other leaders he hasn't managed .o get the budget that was unveiled in may. turkey take

ryan chilcote.u look at the shape of the curve, what is it telling us about how low oil could go now? >> that is a good question. one man to watch for sure is the oil minister of saudi arabia. obviously it was his decision to cut prices to the united states. to discount, that's what they do. discount against spot price, the united states that precipitated this most recent fall in brent, w. timbings. now he is moving, he is on his way to venezuela, then ghose to mexico and then he is in venezuela. then in a conference that will be attended by the oil minister. if you think that these three countries, venezuela, mexico crow, saudi arabia all cooperated between 1998 and 2001 to prop up the price of oil. that was when oil was at $10. yes, i said $10 a barrel. we're not there yet. $82 for brent so that is a long ways off and politics are changed but at a very minimum, while he is in mexico and in venezuela, we got an even chance of hearing from the man because we have heard absolutely nothing from the sa

ryan chilcote has been watching what they said. what is the latest update? >> we need to learn about feathering. effectively the focus of this press conference was about the feather mechanism. richard branson described it as a part of the aircraft that reenters theas it atmosphere. what we learned today was that it was deployed prematurely without command to do so. chris is leading the investigation. this is the normal flight. these tailfins are referred to as feathers. after the space vehicle is launched and goes up, when it starts to return to the atmosphere, the procedure is to remove -- to move the feathers into a position where the entire body rotates to create more drag as the space vehicle is reentering the atmosphere. >> this is a mechanical process. ock yous actually a l have to unlock, and then you have to touch another lever. we know nine seconds after the the lock wasnited, engaged or disengaged, so it was unlocked, but there was never a command to actually begin the feather processing, step two in the process. that's what we know right now. they

ryan chilcote, straight after the break. ♪ >> welcome back to "countdown."ar rising. calls for biggest 2015. the dollar will rise to decline. the euro continues to decline. dollar yen, get ready for -- joining the policy. fiction call on the dollar. -- conviction call on the dollar. in locksteps almost move. it looks as if that relationship may be changing. what you see over here is the krone having a bit of a fight. quarter,d of the first it is going to pump a little bit higher. estimate.e he quite likes euro knocking. 814 by the end of the first quarter. ands like this is overdone oversold. according to some of the analysts. >> these are the top headlines. to rollbama preparing he iss plan to -- expected to say that the u.s. will grant temporary visas to undocumented visas -- immigrants. that is according to people familiar with the proposal. the minutes from the federal reserve meeting have revealed concerns on exactly what the fed should be communicating. the meeting discusses whether the central bank needs to clarify its approach. in new york, citigroup

ryan chilcote joins us. where are he and the talks? what will they be saying?rd, heard the e- extension from john kerry. that was their sixth encounter in 4 days. the deadline is this evening. there was a recognition that is one the avenues they have to begin to explore. remember, the original deal that got us to the talks in november, a deadline of july and that got pushed to now. the feeling is an extension is better than a breakup and the talks. we heard president obama over the weekend saying he did not know whether there was going to be a deal or not that president rouhani is the final decision-maker. that the interim deal in place has in some cases enrolled back toward ambitions and preparing us for that as a prospect. the question, a few days delay or several months delay or extension? for now, we heard from the press foreign secretary and other diplomats taken place in the negotiations, six world powers on the other side of the table from iran, is that we have today. let's do everything we can to get some type of deal in place. there by the political ag

ryan chilcote will be speaking to him. ryan, it is extraordinary that he has seen his wealth grow this year despite sanctions against russia. why he hashe reasons seen his wealth grow so much is because he derives most of his which from the company of he is ceo and has an 80% stake. its share price has gone up about 60% so far this year. 100% since may when he told me that he was thinking about selling his u.s. assets. something that he subsequently did. he is not the subject of sanctions. nonetheless, he is concerned about the russian economy. that is where the company now sells most of its steel. we heard the bank of russia this morning cutting its baseline scenario for the russian economy for next year, saying they now expect growth to be at 0%, pushing back there inflation to 2017 and saying they expect sanctions to remain in place until 2017. i am going to ask him about the sanctions and about the russian economy. francine. >> we heard president putin talk about the continued decline of the ruble. >> this is a big conc

. >> ryan chilcote has the details.his year will see alibaba takes is largest ipo and now it really going to make it clear what singles day can deliver for it. >> alibaba's master plan to make even more money out of ingle's is to take a global. the most interesting things. aliehave alley express -- xpress and another website that operate outside of china. press is the biggest in russia and brazil. the idea is to get those websites into markets around the pe us into this buying frenzy which is singles day, also called double 11. the problem is when they get into markets like the united statess where you have amazon and ebay are already entrenched and it was a survey done that showed despite all of the attention that alibaba's ipo got , only two out of three shoppers had even heard of the company. they have work to do. the good news is that analysts we have been talking to say alibaba which has shown a readiness to stand through acquisitions to take market shares has $18 billion in cash. if it wants to do that, if it want

ryan chilcote is in vienna where oil ministers met.may have been expected but it was also contentious. not everyone supported the idea of not cutting output and maintaining the status quo. , sayinga proposed a cut it is necessary to reduce output to prevent prices from going to $60 a barrel and below and perhaps staying there for a long time. opec decided it can sustain those lower prices if necessary, believing they won't be around for a long time. they also hoped that some non-opec producers, namely shale producers in the u.s., may not be able to suffer that pain as easily and may have to exit the market. ryan chilcote, bloomberg. dominic,g us now is head of commodities and fx for asia at ubs. thank you for joining us this morning. we got a half and half response this cut inpecting global production, not to cut rather. were you expecting this at all? >> we gave it a 50% probability that opec would cut. there was a high probability, 40%, they were not going to do anything. we leave it up to the market forces. that means further downsi

let's get more with ryan chilcote. >> it looks like the battle for the ruble is underway. been waiting for it for a couple days. we have seen the ruble really decline. yesterday we saw the single biggest daily loss for the ruble in nearly four years. it continued to decline today. then we saw the biggest move in the other direction that we have seen all week. that appears to now be over as well. we are still north of 48 to the dollar. we started the week at 43 to the dollar. a year ago, the ruble was 32 to the dollar. most of this is pretty shocking for russians. they think of their own personal wealth through the ruble-dollar exchange rate. we had the central bank say earlier that they would do what is necessary to defend russia's financial security and the stability of the banking system after some anecdotal evidence that russians are pulling their rubles out of banks and turning that into dollars. this is a trend that is very worrisome for russians and also for inflation given the amount of imported products in russia. something to keep your eye on this week. we to all-

what is really disappointing is that ryan chilcote walked around the office quite a lot in lycra. big cycling fan as well. disappointed to see him not dressing up for that package. let's get some company news now. ridgemont is considering an ipo as soon as next year. that is according to people familiar with the situation. richemont has discussed options for the company. sales are estimated to be around 660 million euros for the fiscal year of 2015. profitability of big question. stmicro may take longer to reach a key profit target. the chief executive says the company will reach its goal of a 10% operating margin but the timeframe may change. the chipmaker previously set a deadline of the middle of 2015. uber is considering cutting the number of vehicles it operates in berlin during nonpeak hours as they struggle with legal challenges. the recent changes eliminated .rofits for uber's top drivers coming up, global spending on manila fall as temperatures rise. we will look at what actions are needed to meet future climate goals. that is coming up after the break. ♪ >> good morning,

joining us to discuss that and breaking news on russia, ryan chilcote.ia the bank of russia says they are ready to carry out additional intervention. put this into perspective. >> the ruble in trouble again. the ruble-dollar getting very close to 45 rubles to the dollar. almost got to 45 then we saw the intervention by the bank of russia, saying they're ready to carry out additional intervention, saying they are going to do a repo operation, which will extend into next year. they will keep the limit at $50 billion. that had been announced. oil is part of the problem. >> they raced rates last friday. >> 150 basis points. >> what is stopping the currency? >> nothing. we saw a little bit of a correction. it went all the way to 45 and now down to 44.5. it is down on the day and it is extraordinaire. oil is only part of the story. oil has been falling. capital flight and other things. dollar strength is another issue. sanctions is a third issue. oil is certainly a big issue and shows how just befallen oil prices that affects countries that are produces. >> ta

my th ryan chilcote for making this happen.alk to the brand that is as british as the rain. stay with us for this was of interview with the company's ceo. ♪ >> you are watching "the pulse." time for another bloomberg exclusive. let's talk britain and bruce hunter, a british heritage man that is moving beyond -- brand that is movoing beyond wellington boots. the company's ceo joins us now. nice to see you. i have been thinking about your a lness which has come when youo guys ton get over, when private equity got involvedg way. , was the plan to produce a high heels hunter wellie? >> the plan was to take the wellington boot and use that to springboard into new products. one of the great successes we were able to come up with was a boot on a heel. you will see everything from a on heel.oot to boots you've traveled a long way. how much more is there to travel? i'm wondering, is a high heels wellington boot the outer limits of what you intend to achieve? in toing women height rain pours is probably the limit. be something we could g

ryan chilcote joins us. some of the imagery i watched over the weekend reminded me of british politics -- splendid isolation. over hisft sitting lunch. that was it. >> a difficult reception in some of the leaders. this was extraordinary. david cameron mocking the russian president, saying he had becauseht any warships he felt safe. we had the canadian prime minister saying, i guess i will shake your hand to the russian president, but one thing i want to say is you have to get out of ukraine and the russian president himself telling everyone he has more important business to attend to. have a listen. >> nine hours to travel. home, andve to get monday i have to be in the office. i need four to five hours of sleep. i came to tony abbott and explain that to him. he responded with understanding. i think our work is done successfully. >> we are going to hear back from the european union. the foreign affairs council will meet. sanctions.ct more the diplomats are gathered over the weekend with u.s. diplomats. it is

preview, ryan chilcote. what we need to know? >> i've been talking to investors.all about setting the tone. it is the first time talking about earnings since going public. people want to know how long the conference call will go for and if jack mom will be a part of it. ma will be a portal star jets -- will be a part of it. camema said the investors third. i do not mind being third if i almost double my money or get 50% return in six weeks time. saying, the metrics also, how are they going to break it out? in the past, people have use of the yahoo! as a proxy. this the first time we will give metrics from alibaba itself. not just revenue, but also the forecast on tuesday. a massive day in china for them. november 11, they did lie $5 billion worth of business on that one day last year. talked to a restoration partner, they said do not get confused by the china story. pundits think alibaba is china. -- he said alibaba has already conquered china. they have plans for outside of china and how they will take on the company's outside of china. >> that is it for "on the

for more on the story, ryan chilcote is here. what do we know about the talks?st night, john kerry sitting in the room with his iranian counterpart, their sixth set of talks in four days. the second time they have delayed them. that is when they started to talk the e e word, extension period the deadline is this evening. we also heard president obama over the weekend say he is not sure president rouhani maybe wants to do a deal. he said the real deal maker is the supreme leader. he also suggested the interim some positiveed results. in some cases, even rolling back iran's alleged nuclear program. the question is, are we talking about a few days, through thanksgiving, that is one of the options, or are we talking about a several month extension? this morning, the talks continue in earnest. the chinese foreign minister has arrived. he has said he has a comprehensive plan to solve the crisis. however, there is a recognition amongst everyone that the stakes are really high. if they don't agree on something today, the longer the delay, the more difficult to get a dea

and ryane collapsing chilcote is inside of headquarters. could anything make them deviate from the plan? >> you never know. they surprise. i would say one out of every six meetings. you look at the price of oil going into the meeting. investors do not think they will cut. you thought they were going to cut, you would think oil would go up and you would want to hold it. investors have been selling like there is no tomorrow. we heard from the minister yesterday and he thinks the prices will stabilize. have a the countries united position. we have not heard the countries crying for a cut. the comments suggest that, in fact, we will not get a cut. you never know. there are countries that have been calling for a cut. it has quieted down in making demands. . following their rules and having a symbolic cut would have a huge difference in supply in any case. >> i sensed they lost the grip on the oil market. was that holding up this morning? >> i think they believe they still have some relevance. the look at what is going on in , they have at supply

. >> that was nigeria's oil minister speaking to ryan chilcote in vienna.ording to a delicate, she will be named president of the organization next year. for more on the decision, we are joined by philip. way to have your own -- to have you on the program. -- great to have you on the program. why did he decide to not cut? .> the u.s. produces more oil for opec it is important not to lose market shares in this sense. >> would you say there are now three players? there is opec. there used to be the cartel, but they lost control of the market. you have the u.s., but you have russia and other non-opec umbers outside the u.s. are they all comparable in strength? >> it's difficult to say. the u.s. is a newcomer. shale is different from conventional oil production. it's much more flexible. it can react to prices more flexibly. the drilling of the shale oil goes much quicker. you can move around more flexibly and go to more prolific acreage if prices are lower, or marginal plays in jail if prices are higher, so you can produce more or less. they are more flexible,

ryan chilcote joins us with more. what is going on?e hikes interest rates and it does not help. >> the ruble weakening today, a gained a little bit back, climbed back, the losses. friday was a terrible day as well. despite the bank the -- despite the fact that the central bank intervened. they hike to the rate surprising all 21 economist with surveyed. the ruble rallied and then continue to decline affeldt three point 5%. at this point right now, traders of the ruvell are the more bearish they have been in three years. ruble are thee most bearish they have been in three years. one of them is sanctions. obviously, if you look at the price of oil, the ruble's decliners we'll head of the depreciation of the oil price. it has a lot of people stopped. how can it continue to fall? -- it has a lot of people stopped -- stumped. >> we talked about monetary policy, talk to me about politics. most compared to what we have been over the past couple of weeks. told me about the politics, where the ukraine and russia situation stands? >> in eastern u

let's bring in ryan chilcote. the move lower continues. it goes on and on. w.t.i. a barrel now. >> the saudis are discounting their prices to the u.s. market. that's where this began two days ago. it has continued. in addition to that, people think the inventories in the united states, we'll get that number later today, are higher than they were. it indicates a surplusor oil on the market. what i would suggest is also follow the movements of the oil minister of saudi arabia. he is on his way to argentina. then he is going to go -- excuse me. venezuela. then he is going to go to mexico. these three country,, the saudis, the mexicans and the venezuelans all cooperated in 2001 when oil in december of 1998 hit $10 a barrel. i'm not saying that $82 or $81, where we are now with brentz is $10 but it is interesting to watch what happens between those three countries and whether they are willing to cooperate. the other thing worth watching is when gets to venezuela, does he say anything about the price of oil? despite the fact that the saudis just discounting oil to the un

ryan chilcote is there. producers should let the market determine the oil price.ments and we will get more. will cut prices. >> right. let's go over there. time for the bar chart. we would ask the question what currency should you buy gold in. according to the capital investors, investors should buy in yen or in euro. i brought up a chart looking at gold over the last year. andcan see the top chart gold in dollar is unchanged. the second chart, the gorge line, is up 10%. up by 12% year to date. director ofhe currency debasement concerns. you know what is going on. they are trying to revise the weakening economies with stimulus and the currencies are depreciating. the fed has ended the bond and is moving towards higher interest rates, lifting the dollar. holders of the yen and the euro are better off in gold. by the end of the year, gold and theyh a high expect the price in dollars to to $1175. what currency should you buy gold in? euros.n yen or >> it is a big week for google in europe. there is a european parliamentary debate and vote them may call for a breakup

here with a preview is ryan chilcote. deliver? they >> heavy lifting first.e the open. a conference call at 12:30 p.m. london time. we will be talking to the vice chairman so watch bloomberg television. big expectations rematch for every metric. withue profit forecast that single state coming up on tuesday. we have the massive e-commerce event. when all providers did -- extraordinary day tuesday of next week. there is the shift to mobile. this isunder was saying their first earnings. where theyinterested get to set the tone. does he joined the call question mark member when he had the investor call, he did not bother to show up. >> e has been in holiday recently. >> that is a big thing. boxes notset top unlike amazon. they want to stream and stream to mobile devices and they want to be that media distributor. >> there is massive market caps on everyone wanted to see them. out for thosek numbers. we will talk about ebola and africa after the break. >> welcome back. it is 7:30 a.m. in london. how are the traders looking at the present foreign exchange? who does

ryan chilcote joins us to talk about what turned out to be a fairly critical meeting. what went on?st month, the middle of the month, the russian president sat down for his first major meeting with his economic team in several months. the commi economy minister painted a picture of gloom and doom and said the russian economy is teetering on the edge. the ruble is plummeting. get rid ion here is to of the sanctions. the russian president said do you have any good way how to do that? the economy minister said well, we were hoping you did. o. they came back several days later and gave the russian president two days. stimulus for the economy. basically government-sponsored projects to get infrastructure going or a plan they called the initiative which was basically a way of sugarcoating the idea of cracking down on corruption. they were a bit stunned when he said let's go for that though he said it should be called economic freedom. >> what does this mean? in reality what are we talking about here? >> yeah, so we're going to have to wait for details when he addresses the russian parliam

. >> ryan chilcote staying of the story and we'll be following very closely. and profitss off soar.bring you our interview with the ceo when we come back will stop -- come back. ♪ >> welcome back to "the pulse." airlines and on to the low-cost and high. raised its profit go for the second time said the economic slowdown is working in his favor's. they have a new strategy for winning over the middle market and that's being nice. michael o'leary, the ceo, spoke to us. >> it is a reinvention. we have one of the price battle and a price war. the prize pedal and price war. we want to provide people with a better experience. we discounted prices for children traveling with the parents or business product and will want to move into the middle market. as we get a nicer and nicer, we are finding more of the customers are increasingly saying yeah, lieutenant ryanair. >> how is staff taking it? i am not saying they were not nice but it is a bit of a shift. >> it is a shift. the people that wanted us to do it most is the staff. we put our staff in situations of conflict far too often. wilson we

. >> ryan chilcote with the details of the car story. we have these numbers from easyjet.it coming in above estimates, 580 william million 580 million pounds. a pleasure to see you on the program. help us work out where the sector is headed from here if you could as we keep hearing plenty of doom-laden commentary about the state of the years in economy. how much is that weighing on your bookings at the moment? >> we have driven all possibilities because we increased our passenger numbers and more of them are flying with us more frequently. we have increased loyalty quite significantly. 57% of leisure passengers book with easyjet. 72% of business. loyalty has been a key factor in ourining -- and retaining customers is important. we have done a big engine deal. costs have been flat this year and that has been a strong performance but passenger numbers have been driving revenue and revenue is up 6%. that is a very strong performance for easyjet. because of our low fares and friendly service. if you look at the sector, there is a lot of gloom and doom about the euro economy. i

ryan chilcote has been covering the story. what options do eu and u.s. officials have? what toare deliberating do next and then we get a final decision from the foreign ministers on monday. choices, one,e expand personal sanctions, the individuals subject to asset freezes. two, expand the list of russian companies facing sanctions. westernestrict what companies and investors can do on the russian market. it looked like it was going to be option one. now it looks like options two and three may be in play. i spoke with ukrainian foreign minister and he seemed to downplay the idea that these sanctions would be really biting. is just one point in the whole toolbox. what we need is a clear pressure to keep the escalation on track. again, sanctions are important but just one integral part in toolbox. de-escalationent, is not on the cards. the foreign minister told me the rebels are regrouping and ukraine is prepared to fight. >> the ruble is fluctuating again today. how will the threat of sanctions impact the currency? >> the threat of sanctions creates on currency. that worr

ryan chilcote has been gazing into his crystal ball. >> and talking to investors. >> nobody knows. >>t is debatable. >> that is true. it is the first earnings. is itst important thing is their opportunity to set the tone with investors. jack ma said investors come third after employees and customers. if youhird so far, invested in alibaba is not that bad. you see 50% return in six weeks. i talked to eileen burbage, she said, another thing to watch is the metrics. thehe past, people abuse yahoo! as a proxy to determine what is going on inside of alibaba. how will alibaba lay out a mattress? that will be interesting. -- how will alibaba lay out its metrics? ma going to be on the call? he is a classy guy, so he probably will. what will be the structure of the call and how long will it be? people are looking for every bit of information. and in the future stuff on tuesday, singles day in china, which is e-commerce bonanza of unknown -- >> you get deals. >>/sales. self.sh >> ok, i get it. >> it is massive. it is very important to their earnings. also -- >> the crux of the problem is he doe

. >> thank you so much, ryan chilcote. storesear people hit the and shop online earlier and earlier to score black friday deals. i was online, too. some retailers are setting new records. julie hyman has the trends we see. i saw amazon television sets for lesson $300. it was crazy -- less than $300. it was crazy. >> there were a lot of deals, but analysts say the deals are not different than last year. if you are shopping online, you are not alone. eitherion americans were in the stores or online according to the national retail association. target has come out and said it was its best day ever online. they saw sales up 40% year-over-year. itsart said it was second-best day after cyber monday last year. the bricks and mortar have been pushing online business. macy's was doing that. terry lundgren was on in the last hour, and i do not know if he is giddy from a lack of sleep, but he was excited about macy's position online. >> we are the eighth largest internet company in america after netflix. macy's is booming in internet

. >> thank you so much we go to ryan chilcote in the dramatic drop in oil.hose in vienna expect market reaction that was seen yesterday echo -- yesterday? we knew going into the meeting yesterday that there was not going to be a cut but a lot of people thought that a lot of that was priced in already and the big surprise i guess was that they decided they would meet as usual six months later and a lot of people surprise -- they thought they would meet a few months after that with an emergency meeting because they want to keep a closer eye on oil and set no they seem to be happy with how things are. >> what does it mean for the marginal players of the cartel? venezuela wasin, the country that tabled the proposal for a cut and they were supported by ecuador and iran would've liked to have seen a cut and they were talking about that going into the meeting and this means a lot of trouble for them, all of those countries need an oil price much higher whenwhere it is now that they go behind those closed doors saudi arabia holds most of the cards and they did not g

ryan chilcote was on the ground in ve yena and caught up with the oil minister just after the decision can can you give us your view f if decision and a sense of a -- the deliberations in the room? >> very serious. however it was felt that maintaining the levels would in fact help to stabilize the prices. we'll watch and see what happens. >> what about venezuela's act argument that a cut is -- venezuela's asht that a cut is necessary? >> a number of economies do. we would always come to a consensus because that is the best thing for opec and for the world, the global oil market. >> was there a sense that maybe at these levels, american crude producers can be shaken out of the market? >> i'm not sure they can be shaken out now but over the next few months, supply and demand will come to some equilibrium they will or later share the burden. >> next time around you reckon there will be a cut? >> it depends entirely on what happens the next few months. we have to share the burden. >> ok. let's talk about how the markets have been reacting to all of this. let's show you oil first of all. th