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[theme music] >> welcome to "street signs" i'm joumanna bercetche >> and i'm willem marx europe stoxx 600 returns to highs not seen since july 2015 with trait sensitive sectors leading the gains. >> cnbc learns beijing is pessimistic about the signing of a phase one trade deal but the vice chairman of pimco tells us he's more upbeat that deal will get done before the end of the year >> the deal would be to draw up something no later than but to resolve something by the beginning of december and sign it before christmas. >> reporter: dozens of anti-protesters leave a leading hong kong university after a siege that last the the last three days after carrie lam urges the remaining demonstrators to leave peace fully. >> they have to stop violence, give up their weapons and come up peace fully and take instructions from the police >>> france and germany grief eu c car regulations and volkswagen with a 30% jump in sales >> good morning, welcome to "street signs. let's take you to some of the market price action we've had in the past 24 hours. wall street just about inking out gains. tech an

i'm joumanna bercetche >> and i'm willem marx >> the end is nigh european stocks go higher after striking a positive tone on a u.s./china trade deal. >> hong kong dives into the first recession in a quarter after crippling anti-government protests and ongoing trade war >> mixed signals france's orange jumps as it plans to split the tour unit >> fed chair jerome powell tells congress there is no reason growth can't continue but warns that risks remain. >> look at today's economy there is nothing really booming that would want to bust. there is a pretty sustainable picture. i pointed out the risks. those are in manufacturing >> welcome to the show some breaking news for you the health of the global economy is a concern left its oil estimate goal unchanged for 2020 at 1.2 million barrels a day this report released they see non-opec supply rising by 2.3 million barrels a day, up from 1.8 million in 2018 opec plus countries face major challenges as demand is expected to fall sharply. that does not bode well. we have that vienna opec meeting coming they had talked about saudi arabia and said th

i'm willem marx in london. daimler shares veer off road and drag the auto sector lower negatively impacting earnings over the next two years. down turn avoided germany dodges a technical recession as the gdp rises by 0.1%. ricardo rakes it in. helping the luxury group burbery grow and missing estimates in october as cnbc learns trade talks with the u.s. has hit a snag and learning that canceling tariffs is an important preseason. >> good morning and welcome to the show daimler has warned earnings in 2020 and 2021 will be negatively impacted by cost cutting plans a new strategy to stream line business and improve efficiency. it needs to, quote, significantly increase its financial strength at mercedes benz it plans to cut workers. daimler is down 3.3% volkswagen down, bmw down 0.1% in france, renault down almost two-thirds a percent and ferrari also performing negatively why do you think daimler is doing this >> looking around, all of the shares, they are all facing a lot of challenges. i don't think it is anyth

[music playing] i'm willem marx. a fourth negative session after a report china may not sign a preliminary or phase one agreement this year. >> the french finance minister says you can't build growth in europe while the world superpowers launch a trade war >> i don't think that this war will be solved as a whole in the near future. maybe there will be a limited agreement between united states and china. >>> melt down in the steel sector shares plunge more than 10% as they lower their 2020 outlook. fiat chrysler shares see red after they prepare for themes for a gm lawsuit welcome to the show, no deal this year. there are big barriers to a preliminary or phase one trade agreement which could push negotiations into 2020 talks have tumbled over beijing's demand over tariffs and the u.s. demanding over property rights. >> so i can tell you this. china would much rather make a trade deal than i would. >> why haven't they? >> because i haven't wanted to do it yet. >> why haven't you >> because i don't think they've stepped

willem marx joins us with the full story good morning, willem. >> good morning, dom this is not the firstd back in 2017 uber lost its loins. that was due to failures on background checks for drivers as well as concerns that they hadn't been reporting criminal offenses correctly in 2018 a judge gave them a bit of lee way a 15 month probationary period and now we're hearing they logs their license. transport for london the regulator saying they're not fit and proper to operate a license for hire they put passenger and driver security at risk the focus is on the details. what happened the upgrade to uber systems allowed for exploitation of vulnerable in the app that meant that unauthorized, unlicensed, potentially uninsured drivers could up load their photos to another driver's profile tfl saying that happened 14,000 times and they're not happy about it uber has come out saying over the last two months we ordered every driver in london further strengthening our processes. we have probust systems in check. we'll soon introduce a new facial recognition process tfl is extraordinary and rong and

that is it for our show today here in london i'm willem marx.e exchange" will be coming up in just a few moments time when you shop small you help support your community - from after school programs to the arts! so become a regular, more regularly. because for every dollar you spend at a small business, an average of 67 cents stays in the community. join me and american express on small business saturday, november 30th, and see how shopping small adds up. (danny)'s voice) of course you don'te because you didn't!? your job isn't doing hard work... ...it's making them do hard work... ...and getting paid for it. (vo) snap and sort your expenses to save over $4,600 at tax time. quickbooks. backing you. introducing a razor that works differently. the gillette skinguard has a guard between the blades that helps protect skin. the gillette skinguard. ♪ >>> it is 5:00 a.m. at cnbc global headquarters. here is your 5 at five the rally returns. stock futures pointing to strong gains after stocks snapped a six-week winning streak. >>> it's just another merg

i'm julianna tatelbaum and i'm willem marx. >> beijing and washington agree they must cancel some tariffs before an agreement can be termed >> telling us he's more caution about the first half of 2020 >> we do accept in the first couple of quarters and believe the short cycle of business are flattening out and do expect their recovery >> a tale of two banks shares in unicredit and commerce bank sinks despite confirmation of prerelease numbers >>> and gaining altitude cost cuts helped lufthansa and they believe they will return to profitability by 2021. >>> potentially big news china and u.s. agreed to remove existing tariffs in phases if both sides agree to lift their tariffs at the same time presidents trump and xi were supposed to meet in chile before that was canceled. it is agreed they are trying to meet in december >> reaching a phase one deal that they would have met before host country chile canceled the event due to unrest. that deadline might not be feasible as the two continue negotiating the terms. if the date gets pushed out, that could get pushed out to europe president trump

happy friday i'm willem marx. >> and i'm carolyn rocks >> you may say, i'm a dreamer. christine lagarde asks the time and defends the measures >> the ecb policy stance has been a key driver during the recovery that stance remains in place >> stocks rebound. european equity markets stage a come back after a mixed day in asia after the dow logs its largest losing streak since august >> fighting words. xi jinping insists a phase one deal must be based on mutual respect. >> and manufacturing activity in france and germany expanding that beat expectations >> you mentioned some flash data we have some more here we have the november flash numbers for the november pmi coming in at 46.6 and services coming in at 50.3 against 50.6 in october and coming in at 51.5 for november against 52.2 last month. >> we saw the german and the french data that was better than expected that led to the small rise in the euro i wouldn't say it was a huge rise we are seeing the euro changing at 1.1056 given that the french number beat consensus. the german number well below that 50 boom bust level

i'm willem marx.he stoxx 600 slumps to a two-week low after a down day in asia the ecb says key profits are a risk we'll hear from the central bank's vice president at 13:15 president trump threatens to increase tariffs on china. >> i have a good relationship with china we'll see what happens i'm happy right now. if we don't make a deal, i'll raise the tariffs even higher. >> leaders face off with brexit at the center of their first tv debate >> we certainly will come out on january 31st because we have a deal that is ready to go >> within three months, negotiate a credible leave option and within six months, put that as a referendum to the british people >>> let's check on how european markets are doing. the italian ftse mib has recovered slightly we've had that financial stability review from the ecb that has been a bit of a drag. the cac down almost three percent. let's check on the currency market as well we'll seen the dollar weakening. down around a tenth a percent. the euro weaker against the d

. >> i'm willem marx these are your headlines on this monday morning china cut ascii liquidity rate toe talks and nasdaq listening business tells cnbc west that investors are worried. >> really the most important topic in the u.s. and one that the chinese companies looking to the u.s. are looking for some certainty around. >>

. >> and i'm willem marx stay with us [♪] looking to simplify your skin care routine without sacrificingesults? try olay total effects. one dose provides more vitamin b3 than 50 cups of kale and improves 7 key areas of visibly healthy skin. try olay total effects. >>> it is 5:00 a.m. at cnbc global headquarters and here is your "five at 5:00." a regard rally in the stock market rolls on after short stints on the sidelines, the buyers are back in business. helping stocks hit some new record highs, some $56 billion worth of new deals being sealed this week alone. talk about a holiday appetite for some deal-making there more progress on trade talks top officials holding yet another key phone call overnight as the december 15th deadline for tariffs looms. and a baba boom! hong kong-listed shares in the chinese e-commerce giant sgi

regulator said the company is not fit and proper to hold a private hire operator license in london willem marxns thus morning from london. this has happened before, willem, but is this a different situation this morning >> reporter: you're right, andrew back in 2017 they stripped the license. they said that uber at the time was not fit and proper that was because of concerns around background checks for drivers as well as the fact they hadn't been reporting criminal offenses committed by drivers a judge last year said that uber would have a little more time after they made some changes they had a 15-month probationary period that ended today and now we heard from the london regulator, transport for london, they are once again refusing to renew the license for uber they mentioned not fit and proper to operate things and also putting passenger safety and security at risk this time it's focussed on a vulnerability in the app that allowed uninsured, unlicensed, unauthorized drivers to up load their photos to existing driver's profiles, 14,000 trips across london this happened. that is what they sa