i guess another question is when the first wave of siemens l l vs arrive in 2016 i believe and 2016. >> 24 or 28. >> 24 starting in december 2016 to 2018 and the t line the central subway in 2018. >> 2019. >> so those vehicles will be dedicated to the central subway or - >> no, we don't do that with our real cars we operate the system because all of the lines go through the subway they'll be by the times, if you will, there's be substantial mileage so on any line in the system. >> at one point we were told the first wave would be the central subway but that's not the case as you no, it isn't the central subway will pay for a small autumn but not speculated to the subway. >> so once the central subway opens the t lines like the other lines will be siemens. >> yes. >> will they be able to link together or vehicles that are multiple car. >> they can mechanically couple so as opposed to training lining if it's a two car train you'll see the power systems and lighting through the two cars siemens will not be able to do that but if say awe probate were to break down and siemens were coming

this is a challenging fleet we recently entered into a contract with siemens this is going to revolutionize our system it will come up and deaccompany them as and enter the subway and we'll have another advantages to them as well we'll ultimately have twice as many but time to roll them out we'll get the first what i have woody allen wave in a couple of years that will be used to or used for the t line system and so for the next few years we'll be operating exclusively with our inadequate fleet and for a few years after that, the number one t line portions the system will continue to operate exclusively with the vehicles and gradual transition after that a so we need to make the most of the light rail vehicles and make sure their bridging the gap and that as we grow as a city the light rail system will grow in captivity and to be reliable for the needs of our riders so i would like to invite up governor jerry brown director of operation for muni to provide us with an just want and get us to one piece to the semen vehicles. >> thank you, supervisor wiener and supervisor kim it's a pleasure t

siemens underperformed in the context of what it should be priced at. >> is siemens being discounted because of russia or because of the eurozone? >> there is a whole level of pessimism surrounding the german market, german economy. part russia, part greece, part eurozone. everybody knows the central bank does not have the same discipline the federal reserve has. when you have monetary union but no banking union, no political union -- >> how much undervalued is siemens? >> at the outside, about 25%. >> can you make 25% work for you in 2015? >> i think the first half of next year is relatively straightforward. we will have reasonable corporate. the second half will be much more demanding. >> james, stay with us. we need to talk about oil. we will do that in the next segment. now, it is about 10 minutes into the trading session. let's look at how equities are performing. of course, if you came in on a trade this morning, there are very few people at their trading desks this week. you are going to see some thin volume and you may see things being pushed around a little bit. generally, e

next generation of light rail vehicles recently the board of supervisors approved a contract with siemens a one $.2 billion for light rail vehicles this is exciting for the muni riders it will improve our system and the capacity of the system and eventually we'll see twice the number of light rail vehicles we have today that's incredibly important our light rail vehicles are working hours in our system they serve a percentage of ridership above ground and in the subway it's critical those lines function the current light rail vehicles are the unreliable sources those vehicles have design detects that cause them to break down and the power systems to fail when they fail it is speculator tar in terms of gumming up the system we don't have nearly enough light rail muni explicit order enough of them 20 some odds years ago and because of the breaks down that happen muni has fewer because of the inadequate number of the vehicles we frequently don't have enough service in the system that's why we have too many one car trains the agency doesn't have enough vehicles when vehicles breakdown or in a

looking for, and if not, it just leaves the controller alone. >> stuxnet wasn't just looking for a siemens controller that ran a factory floor. it was looking for a specific factory floor, with a specific type and configuration of equipment, including iranian components that weren't used anywhere else in the world and variable speed motors that might be used to regulate spinning centrifuges, a fragile piece of equipment essential to the enrichment of uranium. and langner speculated publicly that stuxnet was out to sabotage iran's nuclear program. >> well, we knew at this time that the highest number of infections had been reported in iran, and second, it was pretty clear, just by looking at the sophistication, that there would be at least one nation-state behind this. you know, you just add one and one together. >> by the fall of 2010, the consensus was that iran's top secret uranium enrichment plant at natanz was the target and that stuxnet was a carefully constructed weapon designed to be carried into the plant on a corrupted laptop or thumb drive, then infect the system, disguise its pr

companies that are in the etf like siemens. they'll be important to the products. >> greg, over the summer you were talking about exxon mobile saying this was a good stock to own. at that time, trading at $300 and at $93 and you're recommending it now. how good can it get with exxon? >> this is not a play i think you're going to see something occur immediately. but with energy prices this low and so many energy companies struggling, especially if they have lots of debt, they have to sell properties. so the big criticism with exxon is they're not growing their production fast enough. so they could be the mother ship that all these properties wind up moving into. they have a solid balance sheet, decades of history. it's just a logical progression. >> do you have a target price on exxon, 93 now? >> going at 18 months, i think you could see it 10% or 15% higher. >> i'd rather be exxon in a falling market than one of the smaller producers at one of the higher leverage ones. third choice is memorial production partners. it's a master

it's what happened at siemens and the statement of the fact is the named particular individual. the guilty plea was entered in front of the judge in washington, d.c. down the street there was a hearing. the company had to waive its right and the lawyers basically had to say okay we've represent the company. we understand that the company has rights to the trial and present the evidence beyond a reasonable doubt so that they presented those rights and the company pleaded guilty. the judge in the case had some questions about the fine since the judge noted that under the sentencing guidelines this is a fine that could be asked to $2.7 billion. why it is only $550 million the prosecutors cited the extraordinary cooperation in spending so much time and money to be that another large chunk of money being paid to the security exchange commission there's a $50 million really have was paid to the german investigators who had begun the investigation to the natural human state german company said this was more of a cooperative by national criminal investigation. the prosecutors said what

ge, siemens. every symbol one of those companies, this is the next biggest growth market.to say who would win. i personal view is that google and apple with their ecosystems, that customers know how to understand, it is much easier for an app developer to build for a nest because they have relationships with google, whereas with siemens and ge, they're going to struggle to get developers. i am quite mobile, centric -- mobile-centric. >> lawrence, thanks for joining us. >> coming up, we continue coverage of russia's currency crisis. stay with us. ♪ >> "countdown." barth shot.ay's is panic sweeping through russia's financial system? it is a big question. tuesday, december 16 is the day many will remember. it was the single worst day in russia's nine-month-old financial crisis. let's look at the ruble. at this is a chart from the beginning of june, the portion of the chart you want to be looking at. on tuesday, it plummeted into freefall after this surprise rate hike by the central bank failed to stem a run on the currency. the currency at one point -- on wednesday, 67 to the

but so too is what is happening on the humber estuary and in hull, with -- in terms of the large siemenswhich is not just about making wind turbines, but will involve a huge supply industry around it, as well. >> khalid mahmood. >> on saturday, i attended the service at birmingham cathedral along with the families of those who lost loved ones in the 1974 pub bombings. they are all agreed, after a 40-year-long wait, that there is still no action to bring to justice the perpetrators of that action. would he confirm what actions he is going to take? >> well, first of all, are submitted and condolences should still go to those people who lost their relatives 40 years ago. when you lose a relative, that stays with you, and the grief and the pain stays with you, forever. it is important that we continue to work to try to make sure that we address all the issues that happened in the past, find those who are responsible, and try to help people to come to terms with what has happened. that needs to happen in northern ireland as well as on the mainland. >> nadhim zahawi. >> when i see a white van,

. >>> moving on, the ceo of se siemens says that business could get a hit if rates continue to stay lower. stay tuned, we'll speak to the ceo at mid day of siemenses usa. its was down as much as 14%, now down as much as 1 1.6%. it's at a 12-yee year low. doesn't see proovts exceeding 1.4 billion pounds. >>> the ceo of tesco making some statements. we want to get you those headlines. the ceo of tesco saying we're quietly optimistic about whapt firm is doing. the ceo says they have started to rebase a relationship we have with supplieres and that not walking away from rebates with suppliers and that we're seeing encouraging signs from selective price cuts, this despite tesco issuing its forth profit warning of the year. as a ceo, what are you trying to do than try to maintain confidence of your investor base. >> he says tesco is no longer a viable investment and they're still clearing their positions this morning. why would you have bought in september? >> i wonder whether this could go down, flushing out mistakes? why didn't he do that a month ago? this recent announcement has to be on his

what is driving the dax, siemens. there is a deal to be done. i will talk to you about that in a moment. by 1.24%. the oil market is beginning to stabilize. that is going to be interesting in terms of whether we are basing out lower level positioning in the futures market. it suggests that the number of people betting against crude is declining. up by 0.23%. barrett up by 0.4%. we have a report out in the u.k. , london house prices plunged. losing the froth, is what they say. 2014 was a year of house gains. next year, you will see between 1% and 3%. nationwide, you are making a to 5% gain next year. up 0.75%.rent, opec is going to be very reluctant to do anything on the oil price even if it careens toward $40. technik is a french oil services company. they are abandoning their potential takeover for cgg. stock up 6.92%. they have walked away from that. theythe irish builder, have made an announcement. they have sold concrete assets in the u.k. and the u.s. they are taking just over 300 million pounds. the ceo, all part of his much bigger strateg

now, you would have to put adidas, and siemens in that market. -- that basket.ll bad. the companies mostly in frankfurt, which banks have exposure to russian bonds? inn they did these scenarios october, they never included a collapse of oil and a class of euro. but the a big question, luxury auto space, porsche sales for example in russia, up 55% last. lexus sales of 63%. atgives you an indication russians are taking their rubles and parking them in luxury items. >> and henry, i want to bring you in here as well, because when we talk about the level of panic on the street, there was a rush to move the money out of rubles into hard currency. today withlled down the ruble stabilizing, or does that continue? down to somemed extent. but hans is absolutely right. buy expensiveh to consumer goods and there are reports that foreign made cars are now in shortage. you can't actually get them anymore. continue, because price rises are expected to hit as early as the new year as people are rushing to do that. tohans, is mr. miracle going -- is miss merkel going to speak to

the biggest foreign bribery case was the siemens case. in response, some companies are changing their corporate crimes. in the uk, you now have preferred prosecution agreements. there's consideration of corporate liability in germany right now. over decades, more companies adopt the anti-trust rules and we're starting to see that in other areas. >> we're going to leave it there. thank you for your time. and as we head to break, let's take a look at u.s. futures right now. the dow jones industrial up about 96 points. so come off the highs and looking at premarket trade. yesterday, the best two-day gain for the dow and the s&p 500 in over three years. >>> still to come on the show, blackberry has overcome a deal to here back investors. >>> welcome to "worldwide exchange." thank you for joining us this friday morning. i'm seema mody. better late than never, the santa claus rally appears. oil pushing higher following yesterday's sell-off. >>> xerox jau loads its outsourcing unit to atos for just over $1 billion. >>> and shares of nike slump a

starting to see an improvement to look at a 80 over across now is the time from the major look into siemensving well across the upper deck when a one across the golden gate bridge come from the north bay and is still crowded but it is moving to start to back the ride around 37 it picks up after that it was you did it will the car across the span, as a precious old to the richmond center fell bridge 580 westbound west of the rich and parkway is ours to lose in the once it is on the bridge if you have to make the trip out of san leandro into downtown oakland is still packed on both 580 west and about a 80 anonymous that is solid at the 238 we had a major crisis is a typical monday morning slowing in going both and is not done yet. >>darya: the mother of the 12 year-old boy who was shot and killed by a police officer the boy was holding a plastic air soft on the officer thought was a real gun the boy was shot and killed the first time since is that since his mother has spoken out business into was going on. thank you for taking on and flooding this in a national conversation that it represents

then you have a team that is looking at the siemens controllers, the computers controlling the centrifuges, and you need to find vulnerabilities in that and ways of getting your worm onto the system in a way that will hide it so no one can discover it. and then you had a third team that was developing these spreading mechanisms, the zero days and things like that. so there were multiple teams over a minimum of six months, probably longer. the centrifuge research itself probably took a couple of years, and then it all came together around 2007, 2008. >> and when you say the u.s., do you mean the defense department? >> guest: this would be -- so there are multiple agencies that worked on it. it's a to covert operation, so getting the worm onto a system requires an agency that has covert authorities. in that case we're talking the cia. developing a code like this, of course, requires really elite programmers. and so we're looking at elite teams with the nsa, the edward snowden documents have pointed to a lot of the activity of those elite teams that are designed to do deep espionage and what'