u.s. or europe -- again, our business in europe we expect to do better over the next few years because ourustomers are doing better. i was just with a customer who buys a lot of things from china , and consumption is going up in spain. the cost of all those products they import is really going down, so they are going to be very competitive. spain has been growing exports in a very significant way over the last 12 months. and so that should be -- that is one of the effects of the cheaper euro. francine: what is your main concern overall? if we have a global recession, is there something you think the markets or bankers are not really seeing the moment? ana: well, i mean -- my biggest challenge is really executing on a strategy. we know where we want to go. we now need to execute. again, we are a bank. it is not going to be as exciting as the last 12 months. it is not going to be about new people and raising capital. that is over. it is now about executing for our customers and continuing to deliver for our shareholders, and that is a big task. i always think about our people and our team. i

u.s. or europe. those are major problems. japan is at the end of the world. they have no hope in terms of how they deal with their debt burden. they are done. tom: dominic konstam and carl weinberg as well. coming up with talk about that dollar strength and the raging debate over its impact on the american economy. in our next hour, "bloomberg go," stephen schwarzman, paul tudor jones, marc lasry will join us this morning. this is "bloomberg surveillance." stay with us. ♪ tom: dire straits, money for nothing. another deal, this one is up in canada and the merger of their , they beginar sands the offer of $3.3 billion, maybe $4.3 billion. be $3 billionld u.s. tom: she can do the math. this is interest in. in argentina, they've a bond coming. the bones at 15. bonds and cash today, it follows all things argentina. carl weinberg is a next word on emerging-market restructuring. what is the signal katia: it signals a bond they are able to pay in cash today. it matured on saturday, today is when they make the payments. this has been a bond that has gone through quit

u.s. or europe in terms of being sectors do you agree with biotech. >> i am not really a sector until a but don't overstate the weakness here, and don't take one employment number and extrapolate it forever things feel good, continued motor moderate economic growth in terms of opportunities expect continued expansion in the u.s. in europe, somewhat slower global growth and then just be patient, and wait for wait for opportunities. >> you think fed raises rates this year. >> oh, i hope so. it -- it is almost -- it is painful to watch them. it would be an interesting debate about the fed. fulfillment the inflation adjusted funds rate were flat we are zero now a zero funds rate, it is inxupsble i think they are forgetting about distorsions they are creating the fact kept rates it is a zero has not helped the economy. >> the market has shrugged off fed raised rates itself you see on he corporate spreads starter to go widen market not waiting for fed now. >> bringing up a scary point we want our central bank to have credibility. >> there you go great to have you on the show you the so much joini

u.s. dollar or europe, with huge price markups. now, shoppers at these dollar stores are mainly tourists or those cubans who happen to have u.s. families that will send them money. l but at the end of the day, those stores have these huge markups, and where does the money go to? not a private enterprise but to the regime. little imported food or medicine ever makes it into stores where cubans shop, neither is it available on ration carts. so it requires a tremendous leap of faith or belief in some extreme and unprecedented economic mad l. -- model to argue or theorize that current or more u.s. sales to castro's monopolies can or can ever benefit the cuban people. the facts prove otherwise, as has been the case with sales of u.s. food and medicine. so what makes us believe expanded trade with the u.s. would be any different? as a matter of fact, since december 17 of this past year when the agreements between the u.s. and cuba were announced and despite the obama administration's efforts to improve relations with the castro regime whi

u.s. or places in europe? >> well, the biggest thing is the adventurism of mr. putin.he wants to now go outside of his borders. he wants to have these kinds of adventurous moves in different countries. he feels, himself and his country have been on this strategic defensive since the fall of the iron curtain. and i think he's now trying to go on the strategic offensive in many areas. he is seeing a ring around russia, and he believes and his people believes that they are under threat from the west. so he is trying to establish the capability to go outside of his borders, reclaim what he believes is superpower status of the russians, and he's doing that in many different areas. not just in syria, but there is the threat of that in other places in europe. >> so, russia also said yesterday that it targeted isis nearly 400 times within a week. does that show that the russian military is, indeed, capable of, you know, maintaining this campaign with a lot of air strikes, and that isis is a significant target? >> well, first of all, one of the other things they learned in thes

u.s. soil or europe, they would move heaven and earth to try and get them back.ou find that to be the case in africa? >> well, i think there was no lack of will, but i think there's also the complexities of geography, lack of infrastructure and security forces, police and i military who were in my estimation probably not quite up to the task. that's changing now. >> you say there are complexities. you are talking about 300 girls, 276 girls, nigeria just rescued other kidnapping victims. how many kids are we talking about that this group may have kidnapped and do we really have a firm number? >> no, i think there is no firm number. certainly, the girls gained international recognition, rightfully so, but there are many, many hundreds, perhaps thousands of others who have been kidnapped over the past several years, but not in as large a single group as the girls. >> were you frustrated as a military commander in washington -- i mean in africa with washington itself, because troop deployment relatively small, the president announced 300 will be deployed to cameroon,

the reason is because i think, in my view, europe is four or five years behind the u.s. tarted with quantitative easing, but now we are catching up. thatu see the profession the progression of the economy, in the u.s., it is happening in europe. what is happening in my view is you now see proper management coming into these institutions. i think james gorman of morgan stanley -- he refocused the institution from trading. you said in the large u.s. firm -- citigroup is shrinking. is the distinction here that these are quantitative people? particularly mr. gordon -- mr. gorman -- are the days over of the swaggering bank ceo of? davide: yes. in my view, that is very important. you need to be profitable. what does that mean? myself as a central banker, i provide liquidity. banks priced for the new utility banking? davide: in my view, they are. there is upside to banking both in europe and the u.s., and the reason is simple. they are going to have the same earnings as utilities. tom: and this is like nestle, a food-boring utility stock. thathat can station -- but consistent ca

u.s. to europe or japan. there are differences between those countries. we were much more aggressive about recaps. as a consequence, even though we haven't performed well, we have performed better than other major countries. >> comparing with europe -- just compare with ourselves. japan followed you. you basically did qe, drove up the yen. the yen is too high. we are going to appoint the governor who dues what the fed days. they drove the yen to 120. where is that economy? is that humming along? people ever in a lot about currency exchanges. in 2014, the euro was driven down. problema internationally which is not healthy. them?out you impacting >> what is going on in emerging markets is that it is more complex. it has a lot to do with the chinese strong economic growth. booms, i would argue that the fed monetary policy regime has been an important. click see you think that fiscal policy since the crisis has helped the fed achieve goals orbit something that they had to fight against? >> that is a big question. the stimulus packages do not work out too well

or two people linked to terrorism. but if you look at the events of the last few years, we do not see that link. let's start with the u.s. we talked a lot about europe. there is a u.s. aspect to it or it we just concluded a study of the individuals who have been arrested for isis links in the u.s. not one of them is a refugee. these are people arrested in the last year and a half. indicted for links to isis. 40% of them are actually converts born in the u.s. the vast majority are people who are born and bred in the u.s. you can argue that there are a few of them of somali descent who have a refugee background. that is a different story. if you look at the attacks that have been perpetrated in europe with a syrian linked over the last two years, all of them have been perpetrated by people who are european citizens or have long lived in europe or have no links to syria. so far we have seen homegrown terrorism and not so much an imported terrorism threat coming from refugees. obviously we have seen a few cases here and there. i think most of them have to be decided by court. we had a case in italy. we had a couple of cases in bulgaria and the czech rep

what happens when the stock market shocks in europe or the u.s. you have a sentiment change. could that change consumer behavior? >> len, stick with us. founder, ceo fifth street. >>> let's talk about banks and one of the top stories this morning, a better controlled, lower cost and more focused bank. that is what deutsche bank ceo john cryan hopes to achieve after a radical overhaul of the bank's structure. he has now split the firm's investment banking business into two, global markets which will look after sales and trading activities and another for corporate transaction banking operations. >> now also host of new executives have been brought in by cryan to run the new businesses as he seeks to distance the bank from the faces associated with past misdemeanors and poor performance. some of the changes are there. >> deutsche bank is not the only one making changes. investors in credit suisse are awaiting an overhaul which will come this wednesday. then it turns to numbers from barclays and the hunt for the new ceo. november gets going with results from hsbc and its reports

u.s. did not have much luck predicting hurricane joaquin's path. there's a debate over who had the best prediction, the american model known as the gfs, or the european model. some weather experts say europe upgraded weather models, putting them light years ahead of the u.s. senator schumer blames a lack of funding. satellites satellites like these are funded so we can know how hard, where and when superstorms, hurricanes, tornados and other weather hazards will hit. kerry: president obama has proposed $380 million to build new weather satellites, but congress wants to slash two-thirds of that. nick gregory is joining us now with a look at the forecast. in this debate, european models versus u.s. models, where do you stand? nick: a lot of the time it depends on what time of year we're forecasting. if you look back to the past winter, the european model, remember the big blizzard, it did terrible with it. the gfs model did great. we've seen where the european model can do better forecasts than the gfs model. what was concerning was that the actual specific hurricane models that we use, not just the gfs, but hurricane models were it's the physics, the equations that go and they have investe

u.s. or i would be focusing on europe. caroline: we will be doing exactly that today.roline: welcome back. 7:30 here in london. here are this top stories you need to know. and currencies jumped on the prospect of more stimulus from the european central bank. better than estimated u.s. tech earnings have also helped along with rising chinese home prices. asia-pacific index erased losses from the first four days of this weekend is headed for its longest weekly streak of games since april. microsoft shares rose to a 15 year high in extended trading after it beat estimates. net income came in above. has talked about promoting cloud services and subscription-based office products as the pc market continues. in july the company said it would cut jobs in a wide-ranging shakeup. twitter's ceo is giving a third of his stock to employees. jack dorsey announced the move in a tweet two weeks after he officially took charge of the site. aroundres amount to 1% of the company. it may be a bid to boost morale. let's see what's moving in asian markets. theack or -- zeb eckert, rally is

europe. before the or two release of u.s.port, the stock 600 was up by 1.5%, near the highs of the day. after 1:30 p.m. local time, that changed. be honest. yesterday the same thing happen when u.s. manufacturing data missed estimates. earlier, stocks in europe taking their cue from hong kong. he rose -- it rose hang seng. now stocks are actually headed for the third week of decline, the longest stretch of losses for a year. of course, it comes after the stock 600 sank by 9% last quarter. have a look at the euro after the release of the jobs report. now it's on track for its first weekly gain against the dollar in three. today's rise is the biggest in two weeks, traders pushing back expectations for the first u.s. rate hike until march. interesting moves in the euro against the dollar, the euro -- excuse me, the pound up by one quarter of 1%, rising to the highest level against the pound it's made. the thinking is, if the fed to expect when it will hike rates, the bank of england is going to to back when it is going hike inte

u.s. bases in europe and asia played a defensive role. in -- the argument bases many thousands of miles from u.s. shores are necessary to defend the united states or allies is harder to sustain. the global collection of bases has been offensive in nature making it too easy to choice and resulting in disasters costing millions of lives from vietnam to afghanistan to iraq. beyond that, foreign bases heig heighten military tension and discourage diplomatic resolutions to conflict. they are becoming the main tool in the tool box and placing forces near the border of russia, china and iran increase threats to their security and only encourages them to respond by boosting their military spending. again, imagine how u.s. leaders would respond if iran were to build a single base anywhere near u.s. borders perhaps in mexico, canada ear the caribbean. -- or -- the creation of new u.s. bases to protect against an alleged chinese or russian threat runs the risk of becoming a self-fulfilling prophecy. they may create the threat they are designed to protect. far from making the world a safer place, u.s. bases overseas can make war more likely and america less s

u.s. versus one in europe and i was having a discussion with someone recently about whether or not europeans would want to buy food that's been grown by a u.s. company versus a european one and there seems to be this political, not backlash, but like a we will grow our european food. >> and genetically modified and food standards as well but keeping an eye on how crucial this is in emerging markets too given the pain we have seen. it begs the question of consolidation down the road whether or not the shareholders want it, right? >> massively. i'd love to know when we're going to see more of the development of farming in high-rises. >> yes. >> they're already looking at that. they are are already researching it. they're doing trials in different places and asia and certain places in the u. s. as well but if we have an explosion of the population to 9 billion, 10 billion. >> it's a scale question to make it efficient on a broad scale. >> guess what today is. >> it's red day. >> i know. i know. good to see you. >> good to see you. >> good to be here. >> let's talk a little bit more also about s

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u.s. and western europe, all the massive gun shootings, three or more deaths have occurred in gun free zonespoliticalization. thank you all. coming up, hollywood better wake up. because you, the american people, are proven that you want more faith-based films. we'll ask roma downey about this growing trend and she has a brand new movie coming out with jon voight. it's awesome. we'll tell you about that coming up. we live in a pick and choose world. choose, choose, choose. but at bedtime? ...why settle for this? enter sleep number. don't miss the columbus day sale. sleepiq technology tells you how well you slept and what adjustments you can make. you like the bed soft. he's more hardcore. so your sleep goes from good to great to wow! only at a sleep number store. right now save $600 on the #1 rated bed, plus 24-month financing. hurry, ends tuesday! know better sleep with sleep number. it's the brand more doctorsose recommend for minor arthritis pain. plus, just two aleve can last all day. you'd need 6 tylenol arthritis to do that. aleve. all day strong. you didn't know we had over 11,000 this

u.s. and western europe, all the massive gun shootings, three or more deaths have occurred in gun free zonesticalization. thank you all. coming up, hollywood better wake up. because you, the american people, are proven that you want more faith-based films. we'll ask roma downey about this growing trend and she has a brand new movie coming out with jon voight. it's awesome. we'll tell you about that coming up. ♪ it's the final countdown! ♪ ♪ the final countdown! if you're the band europe, you love a final countdown. it's what you do. if you want to save fifteen percent or more on car insurance, you switch to geico. it's what you do. irresistible moments deserve irresistibles treats. new from meow mix with real salmon chicken or tuna. the only treat cats ask for by name. ♪ get the right price, right now on the seasonal items you need with new trophy deals, only at bass pro shops. like redhead long sleeve henleys and tees - 2 for $25. >>> welcome back to "hannity." liberal hollywood doesn't want to admit it, faith-based films are having a huge success at the box office and the demand for them i

u.s. technology such as fracking or genetic manipulation. they fear the loss of hard-one workers rights. >> we think europe is a strong economic power and canenerate potential from within. we also know that there is lots of trade without this agreement. so how much added value does this treaty bring? >> opponents are drumming up more resistance, and berlin streets could look like this again on saturday when organizers expect more than 50,000 people to turn up for the latest anti-treaty demonstration. >> before we go, spain has lots of sunshine and very little money and government coffers, so some bright spark in the spanish government has come up with a clever idea. why not put a tax on sunlight? yes, really. it was approved by the spanish parliament today. it means that owners of solar power agreement will now be taxed for the energy they produce and store in batteries. opposition parties are less than thrilled. the new tax does not really motivate people to use renewable energy and strengthens traditional power companies instead. the next thing we will be taxing his fresh air. that is it for me. >> well, he has charmed --, next the premie

u.s. and especially if europe, and in both cases, whether it's alphabet, google or amazon, they ended up showingually accelerating top line growth. it's at a time when they're providing more visibility into some of the areas that . >> alzon's overall market cap getting close to $300 billion overall. what do you have to do to justify the increased price targets of people putting on amazon after these results? especially given that amazon said, hey, look, our cloud revenue is going to be lumpy. it won't necessarily be more than 70% every quarter. >> the -- somewhere between $70 billion and $100 billion valuation for that business is not completely out of the realm of possibility for that business. i think by 2020 we have that business doing somewhere between $45 billion and $50 billion. i think that is -- has been so far the -- kind of the hidden jewel within amazon. >> the unfair advantage is that it's highly profitable at an operated income. they can continue to subsidyize the e customers business and really undercut anybody and everybody in terms of pricing and value proposition. >> yeah. that'

u.s. and europe might do well in 2016, it is more of a two or three your thing.ere is this view in europe at the moment, the financial is nation -- n--are youzatio concerned from a european banking perspective that the commodity will begin to have an impact in terms of numbers for -- banks run europe in 2016 around europe in 2016? >> i don't think so. we have to build businesses where we can provide added value. the commodities sector -- which is very important will remain in the tenure of an important sector. second, keep an expertise in this sector. to have an expertise in the right financing. major recipe for success it seems to me going forward, and the volatile world where at the end of the day, crisis can happen, what predicted the situation in russia two years ago, the concentration of risk. the management of risk. you need a balanced portfolio of businesses. you need to avoid and over concentration in a sector. angie: china has been trying to shake up its inefficient state sector for years, but with little success. reform growth making more urgent, beijin

u.s. to europe for guess this, $69, as early as two years from now. he hopes to use u.s. airports that have low fees and currently have little or no international service. norwegian is the third biggest budget airline. >> and pepsi will go back to the future with a new promotion, it will sell a limited edition of michael j. fox traveled back in time on "back to the future 2." you have to tweet us if you get a bottle. i want to see it. let's check with al who has the weather. >> one of my all-time favorite movies. let's show you your weekend outlook. tomorrow wet weather from the mid-atlantic into the south. in between things looking pretty good. unfortunately we got rain moving in saturday into southeastern atlantic coast where they do not need anymore rain. sunny and cool through the great lakes, sunshine through the southwest, which will continue into sunday. sunday more rain across the pacific west. things dry out in the southeast and we'll have a few hit-or-miss showers a >> good morning. a cool breeze this morning, and that will fade away. and a mix of clouds and sunshine. coastline. boston, 72 today, metro and worcester h

u.s. and europe, which obviously is shaken through a number of events over the last decade or two. you sort of advertise that's stronger, which is great so long as it works. >> celeste? >> hi. i think we're missing the point a little bit here in that there's not that much room to grow through a traditional trade agreement. through all the rounds of gap, through the wto, through the fact that the u.s. and the e.u. have pretty low beyers, it's tariffs, regulatory barriers and the idea of ttip is just achieve astronomical growth and grow out of as state and grow out of the great recession because we'll get rid of the barrier against chlorinated ching -- chicken or beef, thatn't born out by the data. the data shows the growth you'll achieve is a little more than a round error. that doesn't appear to us to be enough of an advantage of the ttip to really live with a lot of these other things that working people are pretty concerned about, and with the ttip agreement, it's not really, oh, we're going to move to london because that's a great offshoring platform to get back to the united st

or complicate ongoing negotiations for an eu-u.s. free trade agreement. >> let's take a look at the markets. it is a mixed picture in europehis lunchtime. we are seeing falls on glencore. it jumped on monday. air france shares, not much movement. 0.75% in paris. some more of the business headlines next. volkswagen says it fitted 8 million diesel cars with the omissions test -- emissions test-cheating software. overall, volkswagen says there are 11 million cars affected around the world. bp has agreed to a record settlement of $21 billion over the gulf of mexico oil spill. the u.s. attorney general describes the figure as the punishment bp deserved. the company set aside $56 billion to cover fines and legal expenses in the explosion. a cost-cutting plan has been extended to save a company 100 telecom nows -- wants to grow its users by 10% by 2017. shares on the company are up by 4%. a loss of $135 million for a taiwanese tech company competing with apple and samsung. to wrap up, you have found an explanation for the recent issues people have had using facebook. >> this makes people very angry when they cannot log onto faceb

u.s. is today compared to europe or japan.he big difference between the countries we've been as aggressive and we were more aggressive than the recount and as a consequence even though we haven't performed well it's been better than the other economies. they were slower out of the block with similar types of policies. check japan followed you. you did all of this and they say it's too high they are going to appoint a governor that is going to do what the fed did and they drove to 120 just what they wanted but where is the economy? people have written a lot about the exchanges and in 2014 they drive down. we have a big problem internationally. how about you in taxing than? >> there's more about the monetary policy i think it's a lot to do with the economic growth and about now the change in prices the commodity price to the budget and i would argue that the monetary policy in is very on important in terms of what's going on. >> did you think that for the period since the crisis has hoped the fed achieved or something they have

u.s. to europe for about $70. or less. is looking to sell trips to europe. $69.01 way. >> $69.01 way. if you want a round trip ticket. it is 300 bucks which is ridiculously cheap. they would be flying out of the u.s. airport that has low fees. the ceo said the first new roots would be to scotland. i would love to try that out. or birmingham, england and it could start 017. we have to wait awhile. >> this is the school district making it easier for high school students to take the sat and ap tests. we will tell you how students qualify. >>> marincounty sheriff's office release video. people of interest surrounding a murder that occurred on a north bay trail. i am jackie sisel and what they are saying in a live report. [announcer] right now at sleep train, get up to 48 months interest-free financing on tempur-pedic. save $300 on beautyrest and posturepedic. or choose $300 in free gifts with stearns & foster. the triple choice sale ends soon at sleep train. . >>> welcome back. lots of cheering on wall street this morning as t

europe, we have already seen this, but -- plots that have been carried out. and there has been a degree of inspiration or attack -- for attacks in the u.s.. anthony: there is an ideological struggle going on, we want to have your cake on the situation -- take on the situation of ramadi? general petraeus: it was a it showed the narrative that isis was losing in iraq, it showed it to be followed -- hollowed. and i just followed up with attacks in baghdad and other counterattacks. i think that iraq is doing this, it will be preserved, but if and only if the real center of gravity can be in baghdad. this is not just front lines against the conventional military power, there are politics in baghdad. during the surge, we worked really hard with iraqi leaders to come back into the fabric of iraqi government. it was stripped away, from the insurgents, leaving leaders who would target more aggressively with special operations. --unfortunately, in our departure, some of this was undone, so agreement that were made, commitments made, were not honored. leaders had it legal charges against them and peaceful demonstrations were put down violently. that

or regime forces. and then... another blast, and another blow to any hope of peace in syria. the u.s. and its coalition partners in europe and the middle east accused russia today of causing civilian casualties in syria. and, scott, they called on russia to stop attacking the syrian opposition and instead to target isis. >> pelley: holly williams reporting tonight. holly, thank you. an explosion has rocked a luxury high rise near miami. and what americans are saying about how to stop gun violence when the cbs evening (wolves howling) when heartburn comes creeping up on you. fight back with relief so smooth and fast. tums smoothies starts dissolving the instant it touches your tongue. and neutralizes stomach acid at the source. tum-tum-tum-tum-tums smoothies, only from tums. it's our song... yeah, there you go... wait! there are thousands of ways into the complex health care system. and unitedhealthcare has ways to make the system simpler. like virtual doctor visits. i came in too hot. >> pelley: the college shooting in oregon has restarted the national conversation about violence, and we have asked several people to give

or 4%. that is where the huge disconnect is. the u.s.: if you think economy is slow -- go global -- what about europe -- is it doing well in the restrison to the rest of the world, or do you think it is doing well? marc: i think the u.s. economy is doing great compared to the rest of the world. the first question is where do you want to invest --the u.s., china, emerging markets? at the end of the day, the best place to invest as the u.s.. if i were to be an equity investor, i would be an investor in the u.s.. for us, since we are a distress player, we see opportunities in europe, asia -- areas that are having problems. that is where we are investing because they have issues. the u.s. has so little issues right now. stephanie: marc lasry not afraid to swim in the deep end of the poor. number 4 -- the commodity slump is threatening emerging-market corporate debt. companies throughout the developing world are an increasing risk of defaulting on dollar-denominated debt as emerging market currencies slide. this takes us right back there. we see investors, who for the last four years, were desperate for yields, getting into dicier place

europe or whether it keeps it open. but there's no reason not to think that they would in this limited way open it up to u.s.firms, or other firms spent i think it's a very interesting idea. is not obvious how it works out. you are right and you see some countries that saw the federal opportunity and you see some companies that saw that as a real threat. >> chris from manufactures allies for productivity and innovation. many previous analysts have spoken about the different degrees of fervor with which the european support ttip anti-american support ttip. but suppose there's a dramatic turnaround and there's a groundswell of opposition to ttip in a united states come and say it's countered in the state of texas. -- gets concentrated. unlike what we see in europe or advocacy particular capital, let's say we talked about berlin, it's unlikely that the americans in texas would go to austin to it's far more likely that they would head to brussels because they would correctly think i'm psycho not in brussels, to washington, d.c. because they will correctly think that's where the power is. that we spoke about 200,

u.s. economy was going to be coupled from that of europe or emerging markets is kind of proving itself outat's just an impossibility, when you think about the august and the september jobs data. we've seen u.s. multi-nationals slashing a lot of jobs. you should be happy with the returns you've gotten. you have one down year in the s&p 500 since 2002. i think a lot of the conditions that made this bull market possible over the last five or six years no longer exist, and the reasons why investors were tripping over themselves to buy stocks in the u.s. this week are really kind of silly. and i just think enough is enough. >> be that as it may, there are the outliers. what about a company like go pro which was downgraded today, which is hitting an all-time low? what about a yum brands? >> bill, let me tell you -- >> it presents opportunities right now. >> get started! >> yum brands, this is a company that has tremendous issues as far as credibility with their management. you know, when they reported back in february, they guided to a second half -- a massive recovery. they committed to double

or at some u.s. plants. chrysler in trade higher by 1.5% in tune with what we're seeing in europe. nancy joins us with more on this. this could make it more difficult. >> not anything new. they happen for the victory auto makers out of detroit. what's happening is they have a deadline of 11:59 p.m. tonight and we don't know whether that means a strike definitely. there's two things going on here. they could just say look we're moving on to general motors and ford and we're going to start negotiations there. whether they decide to take workers off the job at that stage or keep them working while they continue negotiations with the other auto makers, we don't know yet. they talked to some workers that received letters from the plant saying these are the steps to take. we want you to leave right away and take your belongings but the letter said we continue to work with fiat chrysler. so we don't know for sure if we could still get a deal in time for the midnight deadline but some concern over this two-tier structure. this could get to the strike level and see some movement in the shar

as an investor it's not been very pleasant but europe we like up 12 or 13% and we think that if u.s. can keep stable european equities and european high yield is interesting from here. there's probably another leg left in this business cycle and market cycle. >> how much does that view that overweight view on europe rest on the very short-term news that we got out of the ecb? that there's potential for more easing. without the extra easing would you be less positive on europe? >> if we didn't expect any extra easing we would be positive. now maybe we get a little bit less in december but in general we think the central banks are poised to do more. now the fed has even taken the danger out of hiking. so we think we're quite okay. but -- >> well, you say that but then, you know, the market was disappointed that the boj didn't move today. >> that was in the negative surprise. so we had -- luckily ecb is bigger and more important. we have a smaller in japanese equities as well. it was a little bit of a disappointment in our house. importantly the progress in japan is there. >> ecb to thi

u.s. is or are the accusations from the u.s. unfair on china? >> the first operation we ever analyzed was 12 years ago in 2003 and that was the chinese targeting defense contractors in wrur europe. we see them coming from various different governments. this has become something that pretty much all capable governments are doing. >> what about corporate espionage? do you track that? china is promising the u. s. we're no longer going to do cyber hacking, or cyber espionage for corporate benefits. >> we'll see because president xi was saying we've never done this and now we will stop doing it. u.s. and china promised not to hack each others companies. they said nothing about hacking each others governments and nothing about cyber arms. we're speaking only about spying here. this is very often mixed with each other. we have attacks which are all about callty information which is just espionage and that happens at all times and then the problems of cyber arms. the destructive attacks that could be done during crisis. we don't have many examples of that but we will be needing some sort of rules of engagement for real cyber arms. >> i just wondering also the signs of, you know, is the

predict the decrease or increase that we may see. the europe and the u.s. should do well.year thing. that theree's a view are commodity businesses. are you concerned from european banking respect to that the commodity route may begin to impact the banks in europe in 2016? so. don't think as bankers we have to see 10 years ahead. we have to build businesses to add added value. the energy sector and the commodity sector, it is important, and we remain an important sector. to haveit is important an expertise in the sector, and the right financing. major recipe for success going forward, in this volatile world where at the end of the day crisis can happen -- britain -- who would have predicted this ? you need to have a balanced portfolio of businesses. you need to avoid an over concentration. that means that whatever happened, you would not suffer so much and be able to carry on developing your business. jon: it is the story dominating the corporate news sector. will kennedy is here to talk glencore with us, along with ashok shah. i love the market gilbert piece on bloomberg n

or ubs? where do i look in europe? barclays chairman is talking about we need a bank in europe to challenge the u.s. investment banks.here do you look for value? andrew: the challenge is with .aving that mastodon the danger and that is that they are extinct. [laughter] the big challenge the europeans that creditleverage suisse shows, 3.5%. in this industry, yet to go early and hard. industry, you have to go early and hard. been of the banks have historically complacent and have not grasped the learning early. we like ubs because they have a clear policy. i think these people are doing it late. more difficult position. not everyone can be a winner. manus: they are in a restructure mode as well. you would see more details? andrew: deutsche bank has a lot to do. they had a balance sheet which was creaking at the seams. a new chiefh executive coming in. let's see what this strip just let's see what his strategy is -- let's see what his strategy is. those capital ratios not as strong as they could be. all be queuing up to speak to those new ceos -- manus: we will all be queuing up to speak to those new ceos. speculation o

europe are different than the u.s. first of all, nitrogen oxides are much more stringent here. sit 5 grams i think per mile orwhatever. and in europe it's 30 to 40. it is in europe. in europe, what is stricter is the diesel particulate emissions. and the european laws are much stricter than the u.s. >> so my question is would this defeat device, that's in 11 million vehicles, have helped deceive the european countries's standards as well? >> i can only give you my understanding at the present time. there are lots of european countries investigating this, and we are working with those agencies. also with the german kba, which is the responsible agency. people had to report there. and this is being investigated. since the standards are different, my understanding is the defeat device is in those cars as well. whether it's really affecting the emissions law, i don't know. >> i appreciate that answer. and i just want to say before closing it is refreshing to hear my colleagues defending the clean air act. it's a rare occurrence. i yield back. >> mr. collins is recognized for five minutes. >> thank you, mr. again

europe and the u.s., but china is what will drive growth. that will determine if they hit those projections were not. --projections or not. rishaad: the world bank president saying developing countries have to get serious about structural reforms. kim yonuncan telling -- g kim saying there is no drop in commodity prices in the future. >> looking the situation in japan, they take their military policy 28 2% inflation rate. -- looking at their monetary policy in japan, they take it to a to percent inflation rate. it helps keep inflation down. right now supply is very high. they react to the low commodity prices are producing more. -- by producing more. we don't see the end anytime in the near futures. that creates more headwinds for latin america, and for many emerging market countries. >> you say they are linked to commodities, commodity prices -- we don't see them going anywhere fast, or at least not on the upside. how concerned are you that a small policy missteps, of easily from the fed, --obviously from the fed, will hurt global growth? jim: we heard from today that the capital emerging markets are the largest we have

europe whose orientation is not open. we are looking at this point probably in the next four or five years. we would would the like the u.s. to do more because we would like all the countries to do more. say of the 20,000 we and itde, it is true does put it at an earlier stage in the u.s. process. the other general ask is we are looking at ways to streamline processes, are there ways to do things better? are there other avenues by which people can move? there may be detection opportunities that could be provided through other means rather than purely resettlement. the u.s., the narrative is a bit strange. there are is a greater danger and there have been 30,000 u.s. visas issued to syria. expatriates. are not like syrians here. there is a syrian community, there is migration. igration happens to the u.s. whether it's non-immigration coming through school, visitors , i thinkle migrating the syrian crisis really put .omething out we have to build up the capacity to be able to make the kind of referrals that would yield 400,000 people. we have done these things in the past, but it does take time. my hope is we can maintain a

u.s. testified at a subcommittee and a deeply troubling fraud and warned drivers it could take one or two years for their cars to be fixed and germany says around 3.6 million cars in europe1.6 liter engines will require hardware changes and foreign minister joined the outcry over an indian woman who had one of her hands chopped out in saudi arabia and she is being treated in a hospital in riyadh and the 58 domestic helper said she was mutilated by her employer after she complained about not being paid and has tweeted her objection to what she called brutal and unacceptable treatment in saudi arabia. let's go back to the nobel peace prize and the winner tunisia dialog quartet and we will speak to the author of nobel peace prize, what nobel really wanted and good to have you with us frederick, if i can sum up. >> thank you. >> what nobel wanted was not what the nobel committed is delivering, can you explain that? >> and we think that peace is anything and that they can do whatever they like and when i started this eight years ago they had entirely forgotten the will and now they say they are not sur pursuing the will but doing what they have done and nobel had a great idea

u.s. service members have been attacked. but analysts warn there are more isis hackers out there. >> western europe, england, france germany orysia like mr. ferizi. >> a relative of the accused attacker ardit ferizi is skeptical of the charges. the relative who didn't want to be named says ferizi recently planned to return home from malaysia and that he suffers from mental issues and they were getting worst. brian todd, cnn, washington. >>> in turkey, about 1,000 people gathered in istanbul saturday to mark one week since two bombs ripped through two areas. killing so many. black balloons were released in the sky to commemorate the 102 victims who died in the attack. the worst of its kind in turkish history. authorities have detained one dozen people linked to the blast and government officials say isis is the prime suspect. >>> australia plans to change the law when it comes to medical marijuana. we'll tell what you the conservative government has decided. that detergent was like half the price! and we'll have to use like double! maybe more! i'm going back to the store? yes you are. dish issues? get cascade complete. one pac

u.s. is great, they say europe is great or asia's great, and people think, okay, i shout just buy an indexr on the index, do you think that's a bad idea now? >> not necessarily. if that's your goal. this is just to get exposure, but if you try to build a durable long term portfolio, you find that getting as many opportunities to do well as you can makes a lot of sense. you close off one of those opportunities if you say that i'm just going to get exposure to a passive cap awaited index. >> to say it's an active versus passive i think is missing the point. to me, it's utilizing both structures in a portfolio for an individual, and that's where advisers come in. there are period of times where it's tougher -- >> is it cyclical? >> it is cyclical. no index fund beat the index, yet, they get credit, for, oh, we're an index fund. >> excellent point. >> there's fees, friction costs, other things involved, so i do think there's room for both in this environment, and especially if the index is doing well, you want to be notary public correlated to what to get diversification of the port foal e owe

u.s. from europe for $69 as early as two years from now. the ceo hopes to sell tickets that cheaply by using u.s. airports with low fees and little orternational in connecticut. norwegian is europe's third biggest budget airline. >> pepsi with a new promotion. pepsi will sell a limited bottle on october 21st of this year. that's the date that michael j. fox's character traveled in "back to the future 2." he ordered, of course, a pepsi. pepsi plans to made 6500 bottles sold online for $20.15. you have to tweet us if you get a bottle. now, let's check with al, who has the weather. >> one of my all-time favorite movies "back to the future." your weekend outlook, tomorrow, we have wet weather from the northeast, mid-atlantic states to the south. also wet weather in the pacific northwest, in between. things looking good. sunshine on the southeast. unfortunately, we have rain moving in saturday into southeastern atlantic coast, where they do not need any more rain. sunny and cooler in the northeast through the great lakes. rain and wind in the pacific northwest. sunshine in the southwest, which will continue into sunday, sunday. more rain