sri. >> hi there, wilfred. lovely action in today's trade was concentrated in north asia, in japan and in the chinese markets. let me start with japan first. seven-year highs for the nikkei at the close. and we also saw fresh seven-year highs in dollar/yen, as well.. the yen getting dumped on speculation prime minister shinzo abe could delay the second round of the sales tax hike. not only that, there's a possibility that he could call a snap election, as well. the trading action in dollar/yen has been nothing short but fascinating. yes, we saw a fresh seven-year high well above 115.75. as they hit a session high, a new session high off of 116. and if you look at ebs, it moved a little bit of that threshold of 116. it has since retreated from those multi year highs. the dollar/yen, remaining very, very firmly big. let me talk about shanghai and shenzhen. we've seen record turnover, record transaction volumes, trading volumes. although a lot of volatility on the shanghai market. earlier in the morning, we saw a

. >> good morning, good afternoon, wilfred. the china data did foul the mood in the broader asian markets. let's take a look at those pmi markets. the private forecast has a bit more detail. we're seeing right on the break even line for factory activity in november at 50. so the big question is whether this number, which is the preliminary number, will be revised in future months, i.e. december, and what the official data says, as well. if validation from beijing's numbers, which is due in about a week 1/2's time, that would be a reason to probably sell down the equities markets further in this region. i think b we'll talk about the subindices. the devil in this number is always in the detail. they didn't look good. factory output full to 49.5. the labor market is looking weak, as well. employment shrank last month. remember, social stability and keeping people employed, of course, in china is a key policy for beijing. and it's likely we will see some further labor market deterioration as we head into 2015. the property market

i'm wilfred frost. government policy rather ceo socgen tells cnbc he trusts the ecb to defend growth. >> he will do what he feels needs to be done to sustain that in europe. >>> siemens misses earn eggs forecast, hurt by charges for wind turbines. the ceo tells cnbc there are some clouds on the horizon for the german economy. >> the level of industrialization is very high. but then again, we do see some slowdown and we will -- for this one. >> weakness at europe's core ramps up pressure on mario draghi ahead of the central bank meeting while the bank of england looks set to hold steady. >>> and a strong performance in the u.s. market gives astrazeneca sales a shot in the arm as the drug sales raises its full year forecast. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>> welcome to the show. let's have a look in in european markets. as you can see, there is more reds than there is green. the stoxx 600 is down 0.44% so far in today's trade. let's l

i'm wilfred frost. >> i'm seema mody.s so much for watching. >>> a casino operating denying reports that it's under investigation for a money laundering violation. >>> and that epic snowfall in buffalo, the area now under at least seven feed of powder. more is on the way. football game has been moved. it's friday, november 21st, 2014. "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we do have breaking news at this hour. just moments ago, china's central bank cutting interest rates. the goal, of course, is to lift the sagging economy there. michelle caruso cabrera will join us in just a moment with the full story. here are the other three big stories we're following today. president obama announcing his plan to fix the immigration system and he is doing it without congress. the setup would allow immigrants in the united states for more than five years to be able to apply to stay in this country temporarily withou

i'm seema mody. >> and i'm wilfred frost. >> european and u.s. regulators hit five global banks with a 3.2 billion fine after a year-long probe into fx manipulation. >>> but a concern over barclay's sees its stocks trade lower. meanwhile, rbs is investigating 50 employees as part of a wider probe. >>> and the u.s. consumer is in focus today after macy's and jcpenney report results after this start of the holiday shopping season. >>> agree to disagree, president obama and xi jinping make an agreement on climate change. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>> european stocks trading lower, but if you want to take a look at where we're seeing the outperformers, none other than the japanese nikkei at a seven-year high. japanese stocks continue to move higher as prime minister abe will propose planned -- or expectations that he will propose a planned sales tax hike. >> he denied that yesterday, of course, but the pressure is continuing to go with that story, despite

i'm wilfred frost. >> and i'm seema mody. >> shinzo abe confirms he will hold a snap election. >>> european markets cautiously higher. investors await a reading on the zew. >>> investors share in the green after a jump driven in profits driven by the uk. the ceo tells cnbc asia why is still an area of growth. >>> the bcb tells cnbc he would prefer to stay if possible. we still believe, as well, for us it's better than other stockes and other stocks is changing. unfortunately, this was not our decision. >>> japanese prime minister shinzo abe reportedly told his party he will delay a tax hike and hold snap elections. this coming a day after japan's economy unexpectedly slips into recession. matthew beesley, head of global equities joins us in studio. it was the -- yesterday japan reporting that it is in recession. the question is, what's next? does japan stay mired in recession or do these new policies that abe will potentially unveil help revive the economy? >> what's clear, it would have been bad. at least in our time, company investors, lots of japanese corporates. they've all been saying

i'm wilfred frost. >> and i'm seema mody. here are your headlines from around the world. >> stocks in europe try to eek out early gains. wti bountss back a bit as the opec secretary general says he is not panicked about the oil prices. >> consumers don't see any nagging from anybody. but maybe i think we are looking at a division. >> leaving its troubles behind, allianz sees a boost on the back of profits despite pimco. >>> profits take a hit on shares in china. the ceo says a dividend hike is still on the cards. >> george osborne says he is in brussels to get a better deal for britain, calling the $1.7 billion tax deal unacceptable. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>> and welcome to the show and welcome back, seema. how has the week been in dublin? >> it's been spectacular. it's been a busy week for the markets. stocks at an all-time high in the u.s. >> the ecb made me think yesterday and we have the u.s. jobs. a very big show. we're going to kick off with

i'm seema mody. >> and i'm wilfred frost. these are your headlines from around the world. >> baker hughes says it's in talk wes halliburton. a deal could well exceed $20 billion. >>> on the agenda at the g-20 summit, this as the eu says the corporate taxfield between starbucks and the dutch government may have been illegal. >>> and twitter shares dumble after the s&p slaps a junk rating on its debt, saying the social networking site needs to keep investing to stay relevant. >>> germany and france narrowly avoid recession. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>> and if you're just tuning in, thanks for joining us here on "worldwide exchange." here is a look at how markets are fairing at the market in premarket trade. keep in mind the markets continued its prime in yesterday's trade. the s&p, the dow industrials and the dow transports index setting new intraday all-time highs. the dow strils closing at a flash record at 17,752 right now indicating a higher move i

wilfred?eunice, thank you very much. >>> earlier on cnbc our colleague spoke to wilbur ross to ask whether china's slowdown would boost investors. >> i don't see anybody pulling out of china but i continue to see people put money into china. >> including yourself? >> including myself. >> are you scaling up the amount of money right now? >> we have a clean energy act in china and expanding there. i think the chinese government is send iing more. >>> and coming up, more on this story after the break. >>> and a story on our radar, merck shares topping the top of the german market after the drugmaker struck a deal with pfizer to develop cancer amenotherapy drugs giving merck a large amount of money. this partnership may come as a surprise for investors. we know immunotherapy drugs are a billion dollar market. >> hey, seema. maybe a bigger surprise considering that's one of the key reasons that folks said fizer is looking at astro zeneca in the $118 deal that was spoiled earlier this year. now that

i'm wilfred frost. >> i'm carolin roth. these are your headlines from around the world. >> ifo is expected to announce imminently it will keep the 2020 c cup. >> the u.n. accuses moscow of fueling the war in eastern ukraine. >> inflation looms over europe as prices fall further. this as jack lew -- >> shares of cisco come under pressure as emerging markets weigh on the company's earnings and outlook. >> announcer: you're watching "worldwide exchange," bringing you business new from around the globe. >> hi, everybody. i'm seema mody. coming up on the show, big business of retailers, we find out how american eagle plans to get its claw into the key fashion market here in europe. >>> and sold for $151 million after a record breaking auction, we take a look at some of the world's most expensive pieces of art. >>> and find out why resident necessary cambridge could be hearing a weird buzzing in the air over the coming months. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>

i'm wilfred frost. hsbc reports a 12% drop in earnings. >>> and the ceo of ryanair says the competition for fares is fierce. >> increasingly across europe, you have seen air france pulling up prices very strongly. customers are turning to ryanair and we see the strong growth across the beat. >>> french advertising publicis buys safient in an all-cash deal and shares trade lower in paris. >>> and proctor and gamble is accused of tax fraud and production is halted. >>> you're watching "worldwide exchange" bringing you business news from around the globe. >>> good morning, everyone. let's get straight to data points. the eurozone manufacturing pmi for the month of october, that has expanded slightly slower than first thought last month with the number of 50.6. e were expecting a number of 50.3 so that is slightly better than forecast, but still lower than the flash number that we saw. we'll get to some commentary from the market this morning. again, the eurozone manufacturing is slightly slower than first

i'm wilfred frost. >> and i'm carolin roth. these are your headlines around the world. >> republicans win big in the midterm elections, taking full control of congress for the final two years of president obama's term in office. >>> a spark in early rally, europe retail leads the way into the green marking interim results despite sales being hit by hot weather. >>> a weak yen and strong sales in the u.s. as the world's large ft carmaker posts a profit rise of 11% in the quarter. >> pimco out from a splash of total reach of record $27 billion in the month of october. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> and weir just getting the eurozone composite pmi data come in at 52.1 for the composite number. that's 52.0 in september. we're also looking out for the services number. >> and that is 52.3 versus the forecast of 52.4 in the month of october. so just shy of expectations, but not a huge move, obviously. and we also had a pretty big fall in the euro, didn't we, at

good morning, wilfred.you know, i think they are probably going to even talk about increasing production. i think they want to drive prices lower. i think they want to create trouble with us doing our own drilling here. i think that they want to keep pressure on russia. so i wouldn't be surprised if they want to increase production here. i'm not looking from the cut, i'm looking to stay stagnant or to talk about increasing production to try to drive prices lower and put people out of business. >> so this is a positive thing for the u.s., right? because oil prices are only weak because of excess supply. therefore, this should be something that not only helps the consumer but pushes markets up further. >> you know, it's a very tricky question. as you look at the overall economy, we know that the stock market is at record highs. we know that the wealthy are getting wealthier, but the real issue still here is the middle class. the middle class is still in recession making less money than they were making in 199

i'm wilfred frost. . >> and i'm carolin roth. these are your headlines from around the world. >> nowhere but down from oil. wti falls to its lowest level in nearly 2 1/2 years, significantly weighing on european energy stocks. >>> slowing sales on europe. hugo boss falls more than 5% as it kits its profit outlook while revenue growth slumped to the lowest level since 2009. >>> silicone valley is the command network for choice, from terrorists. that's from britain's science chief as he slams u.s. tech company for turning a blind eye to misuse of their services. >>> and u.s. voters head to the polls today with the key midterm elections deciding which party controls congress and whether there will be two more years of political gridlock in washington. >> you're watching "worldwide exchange," bringing you business news from around the globe. >> and we have to kick off with our top story, which is oil today. of course, it's down 27% since it peaked in 2014. >> june and down over 10% since the start of october, down 1.6%, as you can se

i'm wilfred frost. >> i'm seema mody. here are your headlines from around the world. >> the bank of japan stands by its huge package. the central bank will stick with qe until inflation is on target. >>> a vote to approve the controversial keystone pine line falls shoet in the u.s. senate, but supporters are hopeful the project will eventually get the green light. >> it's been on my agenda and it's staying on my agenda and i'm going to do everything i can to help america to become energy independent. >>> gearing up of a showdown, the french lower house approves the 2015 budget. coming up, we ask the european vice president if paris will face any punishment. >>> no comment from pbnp paribas on reports that executives have been targeted in an insider trading probe. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>> and it continues to be the big story of the day. the bank of japan says a continued economic recovery is on track despite surprise data earlier this week tha

thanks, wilfred. wilfred has come in for us this morning, right? anyway, thank you very much for coming in. >>> the u.s. justice department is reportly probing allegations that an hsbc employee leaked confidential client information to a major hedge fund. "the wall street journal" is saying the incident likely occurred in 2010 when hsbc was advising uk prudential on the acquisition of aig's asian life insurance business. a senior trader reportedly alerted the trader at moore capital. and hsbc this morning, pretty flattish. helia joins us, our u.s. business editor with more on this. helia, it doesn't sound good for hsbc. leaking information? >> for hsbc, more capital, remember, more capital was at the center of the uk's biggest raid by a regulator. eventually one of its employees admitted wrongdoing. this in case, it's more difficult. why is that? because the fx market was unregulated. what regulators in the u.s. are looking at is whether this particular individual at hsbc passed on information ahead of a block buying of dollars. that gives you a lo

he was writing a dissertation on his favorite war poet who was wilfred owen. this photograph is marked by burns. you can see scorching. this is the only thing recovered from the house when it was bombed in may of 1945. you go from one more to another. -- one war to another. that is allison and other members of the team. we went to see where this soldier had come from. the two germans were buried here. about 118 miles from where they were found. the germans cannot afford to bury them in a local cemetery. at least they were buried with their comrades. they decided to put up a monument erected at the edge of the field where the men were found. when it was unveiled, the stoodor of the museum with me and said this is the most unusual monument. is it the smallest? no, it's not the smallest. ath two germans and a british soldier on one monument. 100 years later, a reconciliation still takes time. this turned up on ebay of all things. there is a wreath hung in a trench. down there, it says in memory of comrades.allen had that arrived before the archaeology, it would h

on that note, back to you. >>> thank you, wilfred. i have breaking news coming from btb, one of the russian banks in beijing. russia's btb's ceo says the company is looking at a wider corporation with chinese stock exchanges and this is the important bit, there is a possibility of delisting from the london stock exchange. obviously highly politicized comment there is. joining us is charles deeble, good morning to. you we'll focus on the italian industrial output numbers. nosediving 0.9% for the month of september. i thought that the periphery was supporting the current for a change, i'm talking about spain, for example, but what we're looking at in the eurozone is a highly fragmented space, isn't it? >> yes. and you have to remember that somewhere like italy is trying to go through the structural reform process and frankly hasn't had that much luck so far. so a lot -- you need to separate between what's happening in the macro economy and how the asset process is behaving because obviously the yield and the compression and all the acti

. >> i wonder if wilfred's password is arsenal one. he's a huge arsenal fan. i'm sorry if you're watching, wilfred. >> you said it's going to get -- we're going to see a lot more hacking and there's going to be a lot more of that. why necessarily? at the same time as you've got people trying to hack stuff, you also have a lot of people working on, you know, fire walls and taking 10,000 hits a minute and things like that. are the systems getting better? >> well, you see, that's the difference. because these big walls have been built in, kwov to use the system any more. i trick you into clicking on something. your credit card right in and out online sells for about 6 cents. to be honest with you. but your personal e-mail account and all of your contacts sells for about $30. because if i send an e-mail out as you, everybody is going to click on it because it came from you. and they're going to trust you. or they're going to install malware or they're going to go where you tell them to go. so it's not so much about systems as against people and tricking you into d

, most french, packed in to watching the opening season rubber between stanislaw wawrinka and joe wilfred tsonga. the frenchman took the first seat against tsonga. noise rose in the second, tsonga gave the french something to cheer about, taking it 6-3. it was the man who started the season, the first grand slam title at the australian open, who came through the next two sets for a win. putting swuts swits in the early lead. they must have been -- switzerland in the early lead. they must have been confident as roger federer facing gael monfils. he was in a row with stanislaw wawrinka. he didn't get better, his opponent set about dismantling him much to the delight of the home crowd. storming through the first, roger federer's comeback didn't materialize as monfils made light work of the 17-time grand champion, winning the next two withes loss of the next seven games. >> it was not bothering me, there was just fear you play with coming back from injury, particularly the back. it's hard to explain if you don't play at our level and have a back level. it's a feeling, you feel uncomfortable.

stanislaw wawrinka, team-mate, will play joe wilfred tsonga in the owing tie to be played on clay. >> the san antonio spurs beat the cavs for the 10th straight time in toronto. the raptors hosted the grizzlies, missing five players because of illness. toronto's de-stan was the top storer, and they won 96-93 >>> rangers cam talbot made 30 saves and had his first win at the expense of the philadelphia flyers. the home team taking a 2-0 lead. kevin cline sealed the first, rick nash sealed the win with the second. it was stand-in goalie talbot, the standout player, stopping 31 shots in a fourth start this year. >>> things are not going well for new zealand in the second innings, trying to build a much-winning lead -- match-winning lead against pakistan in a second test in dubai. the tourists lost several cheap wickets. ross taylor made an important 75ment earlier he struck a century. pakistan got to within 10 runs of the first innings total. new zealand lead by 177, heading into the final day. atletico national have a slender 1-0 lead to defend after the copa submaracana. the goal came 10