i'm willem marx. these are some of your headlines this morning ubs sinks to the bottom of the european market as an equity trading comeback fails to cheer investors. the chief executive tells cnbc certain markets are challenging despite their earnings beat. >> client sentiment is more volatile there's much more selection in how you see the series of ipos we are well prepared. >> meanwhile, better margins boost philips helping them beat forecasts for the first quarter with sales close to 4 billion uros. >> we are becoming a digital company. we are focused on health kcare, improving the health of people we have made clear choices those are paying off at the same time, doesn't want to get ahead of ourselves. >> the spread between the german and u.s. 10-year yield bonts as long as it nears 3%. >>> sticking with the u.s., president trump tones down his initial enthusiasm for north korea supporting the nuclear program. he says only time will tell if the two countries can reach a deal >>> not been a very eas

i'm willem marx. these are your headlines clashes over syria russia accuses the white house the syrian conflict may continue but without chemical weapons >> the erosion of that taboo that has been in place for 100 years has gone too far under bashar al assad and it was time that we said no. i think it was totally the right thing to do. >>> the hang seng falls almost 2% >>> and w.p.p. shares slide after martin sorrell resigns he says pressure over a misconduct allegation was hurting the world's largest ad firm >>> and elliott boosts whitbread. and also coming up on "squawk box" from our brand-new studio in abu dhabi -- >> egyptian billionaire tells cnbc how he's navigating the investment situation given the conflict in the middle east. >> i think it's important to tell people like you can't go and support a dictator and get away with it all in all i am positive >>> mission accomplished, that's the assessment of u.s. president donald trump after the u.s. launched missile strikes aimed at crippling syria

i'm willem marx. these are your headlines several european equity markets see modest gains after president trump tweets that missile strikes in syria may not be imminent, prompting u.s. stocks to stage a rally. >>> and a new man behind the wheel, herbert diess replaces r matthias mueller as chief executive of volkswagen. >>> and china's trade balance swings to a surprise deficit in march as exports drop and imports jump a bigger than expected 14%. >>> back from the grave. trump asks his top economic and trade advisers to reconsider the trade partnership, signaling he may sign on to the tpp if america gets a better deal. >>> we are joined by neil atkinson from the iea. it seems we have a degree of numbness in terms of geopolitical risk until recently in the market. is it just this threat of potential missile actions in syria that prompted the crude market to go up so high? >> dollar weakness probably played some role, but mainly the fact in syria you have a combustible mix. we have russia, iran, united

willem and arjun joined us you will be back in about 45 minutes. thanks for that. >>> switching to media news, 21st century fox says it may be willing to separate sky news to satisfy regulators who worry about journalistic independence if rupert murdoch is allowed to take full control of sky they are seeking approval for their takeover of sky. the media firm said it could consider selling the news channel to disney. cn cnbc's parent company comcast also has a bid in for sky. >>> shares in mediaset opened sharply higher after it reached a content deal with sky's italian unit mediaset could broadcast some of its pay tv content on sky's platform mediaset is losing market share to sky which is the main competitor this could create a possible broader alliance between the to rival companies. >>> and the battle to print brita britain's next pass pord raports on the latest after this break. stay tuned - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... w

i'm willem marx. european stock markets follow asia higher after earnings help lift the s&p and nasdaq back into positive territory for the year a miss from ibm after the bell could put pressure on the u.s. session. >>> shares in danone jump as strong demand for baby food helps the french food group deliver better than expected first quarter sales. >>> a bitter taste for heineken. shares fall after lower volumes in europe offset stronger international growth >>> and italy's president is expected to ask the senate speaker to break the deadlock over the formation of a new government after major parties hit a brick wall in negotiations >>> it's been a positive start to trading across europe if you look across our heat map, more green than red. the stoxx 600 up 0.1%. driving that positive momentum, you can see the ftse 100 well into positive territory. the xetra dax in germany up over a ten of the a percent in france, the cac 40 up 0.35. in italy, the ftse mib up 0.10 basic resources up 1.4%. energy secto

i'm willem marx. >> i'm joumanna bercetche. these are your headlines >>> all the legacy issues are resolved says credit suisse's c, ceo as shares are sent higher >> we have completely transformed the earnings portfolio of the company we were rolling 46 million, we're now 29 risk is lower, profits are the same 80% of the profit is wealth management that's the big story in two years. >>> go for gucci strong demand for the brand boosts kering sales in the first quarter sending the stock higher >>> a sweetened 46 billion pound bid for shire sends shares in the british specialty drugmaker sharply higher, but investors question the deal selling the stock in japan. >> european stocks follow wall street lower after bellwethers like caterpillar sound off on future worries >> let's check in on european markets. things started off well yesterday, then quickly turned after caterpillar results, and then weak momentum in asia overnight led by the hang seng down almost 1% the xetra dax is really down a lot in the last half hour. now down 1.1%

i'm willem marx. sterling hits the highest level since the brexit referendum. >>> china says trade frictions with the u.s. won't harm its economic development after gdp growth beats forecasts. >>> and content is king for netflix. new programs help the streaming service win a record number of new users in the first quarter sending shares sharply higher after hours. >>> and 11 billion euros will be offloaded by intesa in bad loans. >>> pretty positive start for the morning for europe the stoxx 600 very much predominantly green. you can see it's up around a quarter of a percent across the continent so far this morning. if we look at the individual markets driving that, just the ftse 100 dipping down very slightly the xetra dax in germany up 0.2% the cac 40 in paris up 0.3%. in italy, the ftse mib up more than a half percent. the sectors behind those numbers, you can see real estate there up three quarters of a percent. chemicals up 0.2%. chemicals up a half percent across europe. household goods and util

. >> willem is live where europ n europeans are meeting to discuss this issue of greece can we expect anything out of this meeting >> no certainty on that, joumanna, but we have heard from a couple finance ministers this morning. you heard there from claus talking about that precautionary credit line and allowing greece to borrow cheaply after the third time bailout we're seeing now. one other issue dividing european member states is how they're going to operate this debt relief after that point the french put forward this proposal, a dynamic proposal where they would link debt relief payments to the strength or otherwise of the greek economy. i asked whether that proposal would be enough to get the imf on board >> we should be able in the coming weeks to find consensus with all the member states of the group on the debt treatment for greece we have to look at decisions already taken by greece to meet their commitments and close the fourth review. this is the first step, a necessary step to close the fourth review in june. i'm confident we should be able to find consensus of the membe

. >> i'm willem marks. >>> they're sending grocery giants to the bottom of the market >> we think it's a very positive move but it is in the context of a dynamic and changing market. we think if you don't change, you don't evolve and you don't move forward and in the current climate then that's very risky. >>> deutsch telecom shares dial up after t-mobile agrees to buy sprint in a deal worth 26 billion. >>> life after sorrell wpp topped first quarter sales expectations with full year guidance sending shares sharply higher >>> and president trump raises the prospect of a trade war with europe as he uses a rally in michigan to claim a meeting with north korea's kim jong-un could take place in the next month >> a meeting over the next three or four weeks. going to be a very important meeting. the denuclear meeting of the korean peninsular of north korea. denuke denuke. >>> good morning one of the big stories in europe and globally is the idea that a supermarket titan could be born. sainsbury and azda unveiled a 13.3 billion pound merger. azda parent walmart will become a 32% shareholder f

has been struck with gesture under which the fighters and their families would be going to gerard willems and not do it and i was also very important to mention that has already led to the wounded people. to leave but they would only be able to leave. if when they do finally give a confirmation that this deal has been struck with them they would only be allowed to leave once the release of prisoners that they have had kept now what does a four rebel pullout from duma mean for the syrian conflict. it's a huge victory for bashar al assad seconds to the one he had gained in december two thousand and sixteen after the regime regained aleppo all the financial center off syria so this is huge but this was coming in the rebels to the last moment kept hoping for their backers like saudi arabia qatar and america to sort of help them that did not happen it was known that there would be there was a siege it was known that there would be air warfare and there would be bombardment and a ground offensive and then the rebels would have to go back we need to nonetheless nothing was sort of being an actor

i'm willem marx. read all about it.p in advertising helps publics beet first quarter sales forecasts. >>> a year of transition is behind us says abb as shares are sent higher in zurich. >> markets are better than the previous years all of our markets are either steady or improving. unless the uncertainties of the world prevail, we see a positive numbers for the quarter to come. >>> a weaker dollar and strong heart drug sales help novartis as they confirm the full-year targets. >>> sparks fly over the future of telecom italia. elliott accuses vivendi of failing to remotely address the issues, as the ceo says he has the support of the majority of shareholders >>> let's check in on the currencies market so far this morning. you can see the euro trading slightly stronger against the u.s. dollar. the dollar itself slightly stronger against the yen the pound weakening against the u.s. dollar. the u.s. dollar and swiss franc pretty much a parity let's look at the markets across europe we can see of those major four indices, th

i'm willem marx. >> i'm joumanna bercetche. these are your headlines. >>> the u.s. ten-year yield toys with 3% but fails to break through that barrier jeffrey gundlach says crossing that level will spark higher rates. >> closing above 3 would lead to an acceleration to higher yields we have not closed above 3 the other big level is the 3.22 on the three year, which we did close at earlier this year and then backed off nicely. >>> ad sales help alphabet top earnings forecasts, but higher coasts means tighter margins >>> feeling chip wrecked shares in europe's chipmakers fall after a.m.s. warns weaker orders from an unnamed major customer will lead to a second quarter slowdown >>> and s.a.p.'s first quarter operating profits jump despite a slip in software revenue as cloud computing helps raise the full-year forecast bill mcdermott tells cnbc his firm is in a sweet spot. >> you have this nice trifecta where our new business in the cloud, our core business is rock solid and the operating margins are expanding the way we said they would s.a.p. is in good shape as a grow

i'm willem marx in london with steve sedgwick live from jeddah. >> eyes on the prize, not the price. saudi arabia's energy minister tells cnbc there's much work to be done to rebalance the oil market >> we have to be patient we shouldn't jump the gun. we shouldn't be complacent and listen to some of the noise that mission akccompliskoccomplisheds of that sort we have work ahead of us. >>> russia's finance minister tells cnbc he's not in favor for tit-for-tat sanctions but says moscow will defend itself against further measures >> i very much hope these sanctions processes do not develop further. we need to talk. we need to find agreement. we need to look for ways out to solve problems, not by imposing sanctions but through political agreements. >>> shares in ericsson are on course for their best day in almost ten years as the restructuring effort stems its latest quarterly losses. i'll speak to the chief executive in a few moments time. >>> and uk financial regulators decide to fine barclays chief executive jeff staley in the whistle-blower case after an alleged breach of conduct, bu

to buses with the fighters and their families have actually left the mark and have left for gerard willems been ongoing to live they are going to jobless which is another area in the north of syria so there still is a little bit of confusion because that is the final word from gesture the slum the dominant rebel group but having said that they have admitted to at least this march that the wounded in dumas would be evacuated at some point today if we do see a full rebel withdraw from duma what does this mean for the syrian conflict anshul does this mean essentially that the assad regime has effectively won it absolutely does mean that i mean if the moment they get this would be the second biggest victory for. the assad regime after a level wish to begin in december two thousand and sixteen once they are inside tomorrow which is expected to happen soon there will be a tiny pocket in how much other time pockets and that are and that's where they will focus their attention to the already started some sort of allotment there as well and then if the image of these could be a little bit difficult

cnbc's willem marx joins us.actor into what's been a fairly volatile weeks in the market? >> reporter: yeah, lewis after the president confirmed in a tweet that he wasn't being sbak when this attack might or might not take place against syria, we saw this rally in stocks yesterday afternoon. we've seen that follow through into the asian trading day with most of the markets trade up. we've seen most of the major indices in the green. it looks like the s&p 500 and the dow jones will both open up based on their implied open for the futures right now. not the case for the nasdaq. the numbers to watch citigroup, jpmorgan and also wells fargo, they're looking to open pretty high, those shares. pushing the market up potentially. uber has announced a new set of safety measures including a potential panic button in the app that will put passengers directly in touch with emergency personnel. they'll be able to share their location. and annual screening not just when they first sign on. this is all part of the effort to dou

there he is, the man who threatened her, the love child of willem dafoe, tom brady, and bon jovi. ( laughternd-- i think i heard-- is this true? we have a video of his last known whereabouts. ♪ ♪ and-- sorry, sorry. i was back-- i was back in the 80s. i was back in it. >> jon: i like that! >> stephen: that was my scene. and if being a goon doesn't work out, he could become a model for abercrombie & fitch. in fact, i think i saw him in one of their catalogs. jim, pan up. ah-ha! meanwhile the pulitzer prizes were announced today, and kendrick lamar won the 2018 prize for music for his hip-hop open us yet damn." and all i can say is gholy. this is a big deal, because it's "the first non-classical, non-jazz pulitzer prize winner in history." it's official: rap is dead. it's now going to be destroyed by college poetry professors with the elbow patches. "i want you to note the dichotomy between the love of his mother and the desire for the 'hoe ass bitch.' it's an internal struggle. it's a zeitgeist leitmotif of a bildungsroman. now, then, now, then, who's having sex with me? it's in the syllabus.

federal and state, the patient is under way in that process and remains hopeful that h those efforts willemontinue and be fully implemented. if so, the result will be an pregnant and process meeting of the act disability goals of the cost and resource savings to the citizens. thank you to the committee for inviting wyoming and listening to the department's perspective on cooperative federalism under the clean air act. thank you.u. >> good morning chair, member white house. i currently serve as the director of the division for air quality. i'm honored to testify today and i thank you for the opportunity to share the perspective of. i servi service the past presidf the association of air patrol agents. our association is a natural nonpartisan organization focused on improving air quality. the association represents more than 45 state and local agencies. as the senator remarked during the hearing, the federalism is a core principle of environmental statutes including the clean air act. the states work together to meet environmental goals and obviously the mutual respect is essential and necess