adam: wolfgang, let's talk about that.in the 3:00 hour had great example of adidas, and nike. nike seems to manage their currency exposure very well whereas adidas doesn't do it so well. correct me on the pronunciation? how do you actually say night adidas. adam: german should know that one, right? >> adidas is actually a great example of that. they really didn't manage the russian ruble exposure very well. from what it looks like they didn't understand that exposure, didn't have right visibility towards it and they actually came out and had to significantly adjust their earnings. now, they said hopefully we'll make up for this in brazil. nike on the other hand, good visibility. still resume for improvement but they're doing a good job. not asking of a surprise. adidas obviously was competing with it, a big problem. take that as an example. if you're selling a pair of shoes into russia and you're expecting to get $100 for it but the ruble goes down 40%, you all of sudden only getting $60, that is obviously $40 you wish you

joining us now is wolfgang shaifer, cfo of continental. me ask you about some of the sales numbers. your company said they're capable of combining growth with valuation. a fraction below last year, well below market consensus. why the disappointment? >> well, i don't think it's a disappointment. if you compare our growth, if you take the first half of the year, 6%, and compare it to the growth of the production or compare it to the growth of the entire market replacement markets, we are still outgrowing the markets, worldwide growth 3% to 4%. so we are in the end confirming the markets. the markets were not adjusted for exchange rate effects. as we are setting outside of the eurozone, we are affected by the stronger euro since the second half of last year. we had translation effects which are 600 million in the first half of the year. aus take that out, our growth is still there and we are still outgoing our markets. >> wolfgang, analysts not willing to take our effects any more. i noticed that you said your fx effects curve 2014 sales by

to turn to an interview i just did in berlin when i interviewed edward snowden's european lawyer, wolfgang kaleck, about the role ,f wikileaks and sarah harrison our guests come in helping snowden. >> i think wikileaks was theemely helpful in beginning of the snowden revelations, especially sarah is a person was extremely courageous because going to moscow is not -- i mean, that is not the easiest place in the world. it's not that they are -- they're waiting for us. so i'm going into this unsecure situation, was extremely brave for sarah. i'm very happy she is living now in berlin, but i would be happier to know she's not facing a criminal charge because of what she did for edward snowden. >> is she facing criminal charges? >> we don't know. many of these criminal investigations are secret. we have no indication is or if not a criminal investigation is on the way, but the risk at the moment is too high for her to travel back to the u.k., so she better stay in germany. i hope this is not the end of the story. >> that is wolfgang kaleck, the european lawyer for edward snowden. i was speaking

but you pay $100,000 if you want wolfgang puck to be there with you. >> that is something. love these young women. it is the generation that invented the selfie and now inventing your personal paparazzi. >>> coming up, the world cup final is tomorrow. fans are shell ling out tens of thousands of dollars for a seat. not just fans of germany and argentina paying those prices. d at managing my symptoms, except that managing my symptoms was all i was doing. ♪ when i finally told my doctor, he said my crohn's was not under control. ♪ he said humira is for adults like me who have tried other medications but still experience the symptoms of moderate to severe crohn's disease. and that in clinical studies, the majority of patients on humira saw significant symptom relief. and many achieved remission. [ female announcer ] humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections and cancers, including lymphoma, have happened; as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart

the companies cfo wolfgang schaefer joins us now.of siemens said german auto industry has peaked. do you agree with him? >> yes, it has peaked in the first half of the year. this is correct. this is true for the western european car markets. it is not so true if you take russia and turkey in these numbers. russia was weak and turkey is flat. we do expect the european car market to be on the level of the previous year. >> ok. let's talk about russia. the effects that russia might have these iv the western a vis the- vis western european car market. could it slow the recovery down? >> the russian market is less than 10% of the european car market. if you see in such a market, as we do expect about 10% decline to share, this has already some affect on the european market overall. it is still below 10% share of the market, so it has a limited impact, but it will have an impact on the european car market overall. >> do you think consumer sentiment in western europe will be affected as well? evidence showing the german economy is slowing a

another ceo in the auto sector, the ceo of bentley motors, wolfgang durheimer.and company is looks like an, exposed to russia. bentley's parent company is volkswagen, exposed to russia. talk me through bentley's exposure to russia. what events over the last few days mean to your business. morning. from our side, we are in a good way at the worldwide scale. facing a very interesting business year and we project growth in all dimensions -- in turnover, profit, and volume. of course, we are hit by what is happening in russia and ukraine. for us, market wise, this region is cooling down a little bit. in ukraine, it is very tough. sell not the time to bentleys in this country. luckily, we have europe, continental europe, the u.k., the u.s. and china. in china, for example, we grew by 61% in the first half of this year. this is heavily overcompensating what is happening in russia. 2015, we're going to see it as easy from you. we've been talking about this for quite a while. can i ask you how an suv is going to change the nature of your business? porsche has been succe

that's the line from wolfgang shoibler. his comments come as david cameron tries to rebuild relationships with the newly elected president of the european commission which the uk tried to block the role of. annette is in frankfurt. is the minister willing to give david concessions going forward? >> that actually was my question yesterday because i think that must be key to a pieceÑ in the best interest of the united kingdom. that is why when i said that the uk is not europe, so don't ask me what the uk is without europe. not a lot. it could be a catastrophe, even more for the uk than for europe. >> this is a concern for european leaders. it's a point that growth is stubbornly low. germany is not deciding the g-7 group for the remainder of this year and next year. they have chosen, as the off ruling topic, sustainable growth. and i was asking him, as well, what he means to do to actually spur growth in the eurozone. have a listen. >> translator: the deciding factor is that we need more investment for more growth in europe. t

a personal shopper on rodeo drive fork over 400,000 a musical sharerenade and a picni with chef wolfgang puck. uma, arizona has the worst job market according to the bureau of labor stat statistics with 26 percent. followed by california cities. >>> finally investors earnings report from the banks this week. driving stock futures up this morning. europe was trading earlier. citibank reported 8:00 a.m. >> oo adam shapiro, fox business network. >>> it is 12 minutes after the hour. after he said his administration would be as trance pair-- transparent. >> we will tell you why journalism groups are slamming the president for suppressing the news. and the white house is now firing back. >>> a look at what happens when a 9-year-old gets behind the wheel of a car. so why did grandpa hand over the keys to begin with. >> bill cosby making a comeback to television. we will take a look at that. >> first a look at the weather around the country. moderate to severe crohn's disease is tough, but i've managed. ♪ i got to be pretty good at managing my symptoms, except that managing my symptoms was all i

. >> hey, david, i got that order for wolfgang's. i need 40 short loins as soon as possible.orey, i need three boxes of our boneless legs of lamb. >> who's this guy? >> that's frank, our general manager. >> come on, we gotta get these trucks out of here. let's go. >> he seems to know what he's doing. >> yes, he does. >> frank. >> frank, i'm marcus. >> hey, marcus, how you doing? >> both: nice to meet you. >> how long have you been here? >> five years. >> do you love it? >> yeah, it's good business. you know, everybody's gotta eat. [chuckles] >> uh-huh. do you mind giving me kind of-- we could walk through, give me kind of a rundown of what goes on here. >> well, this is our production room. we fabricate orders. >> how do you measure the efficiency? >> uh, i've never really analyzed it, never thought about it. i just look and see what i can get done in a given day. >> and so how many pounds do we generate a day? >> um-- >> do you know that number? >> no, i don't. >> so what other things could you guys do here to generate some money? >> well, we started a new item. we made the

here's a quote from wolfgang minister. the finance "with so much stupidity, you can only weep." what the u.s. is doing to the relationship. >> the intelligence i suspect everybody wants from germany is what formation is a play this weekend. it will be an attacking formation. a great deal of speculation in the press that germany will continue its attacking ways. they have had this remarkable team that in some ways is not a traditional, holdback german team. we did take a look at the economy as argentina and brazil -- argentina and germany, look at the differences on football and look at gdp two goals scored. an average of 2.83 goals scored for the germans and look at the gdp per capita, compared to argentina. here's my favorite, the overall labor efficiency productivity of the worker. look at the difference between argentina and germany. it is about 13.8 257.6. the analog, the correlation in football, shots on goal, germany has a 62%, they are taking shots when they say good opportunity. guy? >> thank you so much. hans nichols joining us live from berlin. >> world leaders are try

you wouldn't hire a wolfgang puck to come over and fix your piece of grilled cheese -- fix you a piece of grilled cheese. it might be the greatest piece of grilled cheese you can find, but it isn't what you'd be paying for. so this bill incorporates that commonsense notion of in government we ought to get what we pay for and as has already been noted, criminal investigators in this case do not meet federal standards with regard to the 50% threshold, this bill does a couple of very, very simple things. it sets in place a standard by which to track whether or not they're doing so, and for the work that isn't to that standard, it eliminates this additional pay, so the called leave pay. it's been noted, again, there's a 25% premium but in many cases this is the tip of the iceberg, because if you look at additional benefits in terms of early retirement or enhanced training, there's a real cost to the taxpayer that goes with continuing on the road we've been on. this bill attempts to change that. it has teeth and it freezes any hiring in the office of inspection going forward if these change