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tv   Street Signs  CNBC  January 18, 2016 4:00am-5:01am EST

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hi everybody. good morning. welcome. you are now watching street signs. european investors shaking off losses stateside which saw the dow saw dip below 16 thousandth for the first time in five months. europe's competition commissioner telling cnbc she's
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companies. >> i take that extremely serious. if that was true. it would be highly critical. so of course we look at the stats and we cannot find the bias. >> and air bus teams up with uber now as the ride sharing app looking tot the skies with a new helicopter service. ♪ ♪ hi everybody. good morning. it is monday. it is officially the most depressing day of the year apparently according to all types of studies. but not here. here we're feeling quite optimistic. here book another the european equity market map. seeing a little green on the screens at the moment. coming back from this pretty big selloff i think it's fair to say we saw in many markets last week. asia, u.s. the european shares all dipping or playing with bear market territory. today delicate buying back into
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the european equities and let's just show you main european forces out there. slightly mixed story. the kak, the dax, the footsie. is is. the people's bank of china will be begin a reserve requirement ratio for some lenders in off shore yuan markets. this to curb speculation on the currency. this didn't cheer investors in japan where you saw the nikkei close below 17,000, the first time since september we've seen a close like that. and in we continue to see quite a bit of selling. i'm noting green spots behind you as well.
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>> it was quite a curious session on the china markets especially. erratic in the morning and the afternoon we saw stability. we shaw the shanghai composite and the blue chip composite move above 1%. they came off the lows and this is where we settle for the shanghai composite and the csi 00. well below that psychologically important handle of 3,000. i would say the mood is still cautious and every reason to be. because tomorrow we get very closely watched economic indicators. the expectations are that the final figure will be closer to 7%. 6.8% is the consensus. but if we do see a negative surprise that is going to trigger more selling, more volatility and possibly more deleveraging in the broader markets. anyway that is the big data point tomorrow and that is the central risk event coming from
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china markets. elsewhere we saw the knnikkei close in its worst level in almost a year. so pierce below that 17,000 level. another critical support level for the nikkei 225. the narrative hasn't changed. oil, stronger dollar and the impact that has on emerging market economies as well. trade shock commodities a lot of ems exposed to the cycle like indonesia, malaysia. the underlying sentiment still remains quite fragile. you seem to be quite happy though. so maybe after the show you can buy many a pint of guiness. if i was in london. >> yes. naturally we shall do that. at 10:00 a.m. yes, there is reason to be happy. every day is blessed. we'll talk later. waiting for his pint, by the
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sounds of things. now moving on speaking to the chief economic adviser warned that china's slowdown will be worrisome. >> they face is same issue we faced ten years ago. the objective of spreading ownership of stocks across society so people would have a stake in the drive to a market economy. and like was housing they went too far. so china is going to go through a correction, a financial correction. but it is not going to be as painful on the economic front as ours with housing. why? because they still have quite a few policy levers. expect the financial situation in china to continue to be worrisome but i'm not a buyer of the hard landing of the economy. i think they will soft land after about 5% growth. >> interesting. added he does not expect the fed
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to change course and anticipates another one or two hikes. oil prices have fallen to their lowest levels since '03. the iranian deputy oil minister said the country stands ready to increase exports by half a million barrels a day raising fears the oil supply glut could be said to worsen. after that stock markets in saudi arabia and elsewhere in the middle east fell after that news by iran but the news received a far more enthusiastic reception from the political perspective from the u.s. president. saying the iran deal demonstrates the strength of american diplomacy and makes a world a safer place. during the a speech another the bhous the president delivered this message to the iranian people. >> following the nuclear deal. you especially young iranians have the opportunity to begin building new ties with the world. we have a rare chance to pursue
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a new path. a different, better future that delivers progress for both our peoples and the wider world. that is the opportunity before the iranian people. >> just a matter of hours after the president's speech the white house announced the fresh sanction -- these are separate sanctions to the overarching ones we're talking about being lifted. sticking to iran i want to mention corporate news coming out from daimler. they are stating they are signing an m.o.u. to return to the iranian market. they have signed this with the mamut group and daimler trucks is saying they are going to be opening an office in iran in the first quarter. they are also signing this mou with kojo diesel. so that just coming through from daimler. and sticking to the subject. the business community has
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welcomed iran's emergence from the sanctions. >> founder and senior partner of zaiwella and company. good to see you. >> you are a sanctions specialist law firm and have dealt a lot with the iranian case. >> we we acted for first ever legal success for iranian company. and we won in the u.k. supreme court. they held the listing of the bank for iranian sanctions was unlawful and irrational. and wear sanction specialist firm. >> very difficult. because the sanctions put on by
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the u.s. are different from some of the rules in europe? >> absolutely right. u.s. sanctions are enforced by executive order of the president of the united states. so only he can withdraw skit it the curt. >> what happens now? rouhani this morning tweeting measured and thoughtful comments about how they are moving towards peace, they are not a threat to anybody and they welcome these developments. >> i think this is most important. the younger generation are looking forward to becoming part of the international community. and one way of kushicur curbing. they also will understand the most important thing is having a
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good life. >> what do you think happens economically? and how easy could it potentially be for a european company to invest in iran now or european individuals? this is going to take quite some time still isn't it? >> i think the transition, iran is ready for it. even last year they were saying please bring investment to iran. iran is going to try its best to attract investment. and one of the new law with iran now requires is passed or made a joint venture with an iranian party for any new investor. that makes sense because it also brings knowledge into the iranian business community. >> yes. it always helps if you do have locals involved. especially in the market that's been closed and the initially -- >> right. >> thank you -- >> but -- >> -- oh please go ahead.
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>> tremendous opportunity. and most important to bring back iran into the international community. and with that i'm sure the situation will also improve. the majority of the generation is under 30 and they are looking forward to getting into the international -- getting on with the international community. >> thank you very much. zaiwal zaiwalla. thank you very much. five americans were released from an iranian jail last night as part of a prison swap with iran's leaders. >> reporter: freedom for five americans imprisoned in iran. three of them arriving at this swiss airport before being transferred to a u.s. base. the climax of a historic weekend. in texas, a group of iranians walked free. a cold war style prisoner exchange just a day after a nuclear deal. >> today we're united in welcoming home sons and husbands and brothers who in lonely prison cells have endured a
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absolute nightmare. >> one of the five free is washington post reporter jason me sion. breath mcgi tweets, thrilled to see him land safely. >> we've been waiting for this day such a long period of time. >> reporter: syed has been jailed for three years. >> i woebke up my kids and told him daddy is coming home and he's out of the prison and they were so shocked but they were jumping up and down. >> and another excited to be reunited with her brother. >> we have been on pins and needles, dieing to see him. we haven't seen him in four and a half years. >> excitement too in the iranian capital. their president declaring the deal with the u.s. has opened new windows. but not everyone is celebrating.
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iran will gain billions of dollars worth of assets. israel's prime minister warning iran still wants nuclear weapons while american bob levinsohn disappeared there in 2007. his family said he's been left behind. we are devastated. the freed americans are in this u.s. base behind me in germany. they are going through medical evaluation before they can go back to the united states and their families. >> good to see you. what is the latest from where you are in teheran? >> reporter: well we are seeing the culmination of a long diplomatic process between american and iran talking directly to each other two years ago after having cutoff relations since 1979 and now we're seeing the fruits of those talks. we're seeing the implementation of the nuclear deal. the release of those five
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american iranian prisoners and tensions being ratcheted down on the high seas when american navy sailors drifts into aariranian territorial waters. i don't think any of had been possible if there hatn't been a softening of relations. something that would have been unthinkable a couple of years ago. but still we're not to get ahead of ourselves. america is still the "great sta satan" and iran's hard ideological enemy and we can see there is still trouble on the horizon. yesterday president obama issued more sanctions on ooish over its ballistic missile program and iran hit back today saying these sanctions are illegal against iran. the reason is the united states sells so much arms to places
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like saudi arabia here that iran should have the right to defend and its have those sort of military equipment as well. tensions still between the two countries but slightly less hostile. >> and what seems to be. what is it that iranian officials are saying on the matter. >> reporter: there's been a lot of focus on the implementation of the nuclear deal. president rouhani has made several speeches on state tv saying the shackles of sanctions have been broken and the only people that are unhappy about are the zionists and warmongers in america. he's built that is the huge victory for iran. and rouhani has made statements
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saying iran is a stable country and good place for people to invest money. so they are looking very strongly towards the future. they want to bring iran in from the cold. they want to turn around the economic situation here and deliver on all his campaign promise. in february we have parliamently elections which is going to shape how foreign policy and dmoes domestic policy goes forward and someone like rouhani wants to establish his people in seats in parliament and doing this deal in reviving the kma is a major step wards that. >> thank you. now of course for the latest developments on iran, head online to of course on top of that you can always get in touch with us directly here. e-mail us, the address is streetscience --
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you can tweet me directly as well. there is enough going on today. coming up here on the show, breaking the highway code. renault faces a government inquiry. and as bernie sanders gains in the polls hillary clinton goes on the offensive. the latest from last night's democratic debate. also tomorrow we hit the swiss alps. cnbc goes live from davos and the world economic forum. a bunch of ceos from across the country. we've got a special two hour show for you today. come back for much more right after the break.
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hi everybody. welcome back. you are still watching street signs here on this wonderful monday. just coming through on the wires. leaving the henkel board by mutually agreement. and kasper's request to prematurely terminate his position on the management board will be taking place as of first of may this year. also responsible for the beauty care business. the successor of him will be announced in due course. and when looking at shares, shares fell just a little bit on the back of that announcement of a new ceo essentially.
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let's talk a little bit of ericsson as well. this afternoon raising it rating to a buy. nordea bucking the trend today. and the amec ceo is stepping down. and be replaced by the company's cfo. it is said trading for 2015 and 16 was in line with expectations and shares also higher here by more than 4 percent too. we've had some flashes out by saying oman will cut output by 5-10%. everybody else should do the same. this just coming after the weekend where the iranian
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nuclear sanctions are now lift sod we're looking at more iranian oil on the market and helping to depress the very low oil prices. australia's wes farmers deal. it sent shares higher by around 2%. home retail stocks also a bit higher on that news too. and the world's largest human resources group, adecco cut its margin to between 4 and 5.5%. ceo says he aims to continue delivering organic growth after revenues increase by 5% during the first two month of the fourth quarter. and gold man sax is expecting luxury earnings to bottom out in
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2016 with forecast sales forecast expected to slow to 3.4%. and luxury expense in china is expected to rise. and kering upgraded to neutral following an improved strategy. and the porsche has --. he struck a chord when he --. according to reuters, vw's board are reportedly prepared to forgive mueller for his mistakes. and sticking with the cars. renault shares, they were in the green earlier after posting 3.3% rise in 2015 global sales thanks
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to boost in demand for new models. the car maker now is looking at 2016 growth to accelerate in all its regions. local reports say renault is to explain why emissions from some of its models exceeded limits of emotions tests. earlier explained how last week was completely out of the blue. >> everyone was surprised in the share price. and the question here really is why did the government step in here and renault? why didn't they step in at pew joe. what triggered that really? we're all aware renault performed more poorly on real
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world driving tests. so thaz performance of their cars was worse than some of the others but it was really a big surprise. >> in political news stocks in taiwan fall to five month lows with investors cautious over the weekend. psi --. >> reporter: a new face in china's new economy. the 22-year-old used to work at the factory but today a beijing headquarters of this internet company she looks to deliver food through a company to place orders through an app on a mobile phone. i worked in a factory if so many years. i found i really liked this.
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as chinese become wealthier and get busier as work they don't have too imto do everything they might have done on their own, cook food for example. so that spawned need for services like food delivery. online booking site offering discounts. expecting by 2020 chinese consumers will place 30 million orders for meals a day via companies like his. almost four times what they do today. delivery services in the u.s. started from a phone call. in china it's begun with an app. mobile apps are a relatively new area so there is room to grow he says. wong says his industry is attracting heavy investment and hiring fast. services now account for a
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larger part of china's growth. 48.2% compared to 42.6% in 2014 from traditional drivers like manufacturing and construction. but the question is whether these new types of businesses can develop fast enough to drive the economy forward as old industries fade away. shu isn't concerned. this business is going very well he says. i think delivery services have a bright future. if he's right. so could china. >> still to come, as bernie sanders gains in the polls hillary clinton goes on the offensive. we'll have the latest from last night's democratic debate. that is after this. you are watching street signs this morning. find us on twitter. say hello if you want. it is supposed to be the most depressing day of the year today. if you depressed? p
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welcome back everybody, you are still watching street signs. these are your headlines. european investors shaking off friday's big losses which saw the dow closing below 16,000 for the first time in five months. brent crude dipping briefly below 28 after fears that the supply will swell at saxs of iran lifted. and the ceo of henkel steps down. >> because if that was true it would be highly critical. so of course we look at this stats and we cannot find the bias. >> now the ceo of hengal steps down sending shares into the red.
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hi everyone. welcome back. happy martin luther king day. if you are joining us from the states that is why the u.s. markets are not trading today. we've got an extra hour of programming for you this morning. so a two hour street signs that we'll be bringing live from the studio in london. and again, these are the closes that you are looking from the states on friday. and again they remain closed today. but u.s. and european shares falling friday. we saw the dow below 16,000 on the close. asia seeing its lowest since 2011. european markets are awake. we are up and running today in trade. up. but we're actually a little lower.
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the ftsi, the xetra dax, the cac. let's talk more about the main stories. germany expected to benefit from the iranian nuclear deal as the economy minister hails the opening of a new chapter in relations. now before the sanctions were implemented, germany was one of iran's leading export partners. a lot of people spectruming about what this new iranian oil coming p onto the market further will do to a already depressed oil prices.
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how do you feel about the safe haven, yen trade -- bond buying as well? how are you thinking about thing. >> it's been a difficult start to the year for many market participants. i think there is a certain element of the markets reacting more than perhaps the economic fundamentals justify. and in terms of economic outlook we continue to be reasonably, take a reasonably benign view. certainly of the european economy. and i think the global economy more generally. relative to the big gradations we've seen. from the european point of view equity markets are much more exposed to developments in emerging markets and particularly in china than i think the european economy as the whole is and while the external weakening, i think at
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the same time domestic demand is picking up and showing robustness and resilience largely on the back of this fiscal easing that we're seeing in many european countries at the moment. >> why are we being spooked then? we've no one about the chinese slowing story for a long time and the changes happening within the central banks for quite a long time too and diverging u.s. and european economies as well. why are we getting so spooked? >> well i think there remain quite a lot of policy uncertainties out there and these kind of feed through markets into the compounding those uncertainties so that interaction between policy making, market behavior and underlying economy remains critical. certainly the chinese authorities are in the phase of moving towards a slightly different regime with regards to their currency and that is something that has led to
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someone -- some uncertainty as we learn how they are going to operate in this new regime. and the feedback of that into equity markets into broader financial conditions has also perhaps changed the outlook at least in the markets' view as to what the fed will be doing in the course of this year. we, and the fed itself continue to point the a number of further rate rises in 2016 but those are perhaps noz what's being bright in right now. >> couple of months back, october or so last year and at that point goldman was anticipating six rate hikes. what are you expecting now. >> my colleagues in new york continue to expect that we'll see a quarter percent rise in each quarter. so we expect it to take place in
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march and with subsequent moves in june and september and at the end of the year. relative to what the market is pras pricing. i think that is on the basis both that some of the dynamics that we're seeing in markets will dissipate through time. and although there has been some tightening of financial conditions, nonetheless, with the u.s. economy normalizing with the level of unemployment in the u.s. falling to levels that we and the fed i think see associated with full employment, the needs to normalize monetary policy from its very accommodative setting which it's been for some time, i think will probably lead to further correction in u.s. rates. >> and you seem to me like a happy, well-balanced individual. on a scale of 1-10, how depressed are you feeling with
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today with 10 being the most depressed? >> well i was told my by wife that today is the most depressing day of the year. >> see and i -- >> and i think having worked at goldman, i've always come with a story that performance is going to be weak, performance is going to be divergent, europe faces a lot of big governance and political challenges. i don't think any of those things has gone away and indeed on the political dimension, with elections in the big countries next year there are many big challenges to be faced especially in the context of the refugee inflow and other things. but from a purely economic point of view i'm probably less depressed now than i've been. >> so you are on a little cloud and that's fant.
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a very smart wife by the way. because apparently everybody else is super depressed. today officially the most depressing day of the year. it's being labeled blue monday due to cold winter months and empty pockets in the aftermath of the holiday spending season. the survey carries out says 51% of brits will be feeling brits during their commute to work today. smile at each other. it might help. heading into break. a the world record amount of dogs and their owners took part in a dog yoga session. i'm not sure if this is for the dogs are or for the owners -- actually i am pretty sure. they imagimassaged. they twisted. they stretched in their poses.
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and they got a chance to relax and bond with their pets. their pets are like stop with these stupid trends and put me down. let many go chase a cat or a mouse or whatever you chase. democratic candidates hillary clinton, bernie sanders and martin o'malley went head-to-head in their last debate before iowa caucuses. sanders criticized clinton for saying i have huge doubts when people receive money from wall street. clinton fighting back saying she's planning to bring in tough new regulation. >> i have a plan that most have said it is tougher and more comprehensive and. >> it is that the true. >> yes it is. it is builds on the dodd-frank regulatory scheme. but it goes much further.
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>> oh come on. >> but both the governor and the senator have focused only on the big banks. >> tracy potts is in washington. what is the takeaway from the democratic debates? >> obviously it's only been a few hours so we don't really have aempirical empty. but if you look at what most people were most interested in or who people were most interested in on social media, internet sernls esearches. our own focus group of south carolina voters, they were up a all pointing to bernie sanders. it was a strong debate for him. and one thing clearly if you like the status quo. if you like the way obama has been running the country. hillary clinton is probably your candidate. if you are a democratic and think there is room for improvement, that is where a lot of people are listening to bernie sanders. and that is why we're seeing those polls tighten up in iowa.
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they clashed on guns, whether or not sanders was aligning with the nra, which clinton alelgs that he was. sanders says look i have a d minus rating with the national rifle association. on healthcare, this was a big one. a signature program for president obama for the democrat. hillary clinton says we don't neat to scrap it we need to improve. bernie sanders talked about how new hampshire can spend less and get more. and he talks about how we're being ripped off by the drug companies can the insurance companies. and you just heard big issues on wall street and the money hillary clinton has been taking in. >> thank you tracy potts. later today british mps will be debating whether to ban
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dprump donald trump from the u.k. after he called for a total and complete shut down of muslims entering the united states. still to come, it is all about traveling by chopper now. who's partnering with uber to bring helicopter rides to the sun dance festival. that is coming up. and send your questions through.
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hi everyone. welcome back. you are still watching street signs. we have an extra hour for you today. we've got a whole bunch of market moves we need to keep you abreast of. we'll be on air with you for an additional hur today. the u.k. conservative cabinet minister will be in charge of
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running the campaign to leave the european union as the brex it debate goes on. i also want to mention we're seeing a bit of selling taking place in italy at the moment. more than what we're seeing elsewhere in europe and it seems like we're being led by bigger financials out there. the ftsi nib is off by almost 3% now. i intsa san paolo. and some of the italian banks on screen. hefty selling. again just be aware how much they are worth per share. take that into consideration. looking at the percentage moves. hugh is still with us.
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you were talking about how the data in europe is actually looking okay compared to elsewhere. then i look at some of the data from precisely elsewhere and i wonder if that can continue. the u.s. growth story, forecasts for 0.4% in the fourth quarter. that would be a pretty sharp slowed african down from 2%. and then gdp data. and if everybody else slows down then certainly europe has to slow down as well. >> europe's exposure to the global economy is an important part to what we've looked to in the past for sources of recovery at the prolonged weakness. so europe has historically tended to follow the global cycle rather than lead it. so this does raise question marks as we go into 2016.
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having said all of that, we have marked down our view of european growth suggestly on the back of the slowdown in emerging markets that we've seen, certainly a deeper slowdown in the u.s. would add to that. but nonetheless we've already marked down quite a lot. and nums we've maynarded our forecast for the you owe area this year. and on the back of the fact we're going to see dynamism in the domestic economy which to some extent will substitute from the relative weakness from the rest of the world. i think at least in the shorter term over the next nine months e as reflected in the indices i think we continue to see momentum in europe and i think we're looking to mid year and beyond to whether we see a turnover. >> what do you think the stick in the wheel is?
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oil? that is kind of causing people to really fret? and is that going to have an impact on these gross scenarios? or is it really china? >> well of course oil t fall in oil prices, other things equal should be good for many parts of the world. certainly oil importers. in terms of its impact on markets as opposed to its impact on the real economy, european equities have a big exposure towards the energy sector, the oil sector. so there is a direct negative impact there. and i think from a sentiment point of view, given credit markets exposure towards the oil sector and so forth. there are reasons to be concerned about oil and its low prices creating financial or other disruption. but from european point of view i think overall oil will continue to be a supporter of activity. and that is a reason why we continue to take a reasonably
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optimistic view, at least in the fist half of this year even against the background of the slowing of the global economy you are talking about. >> hugh i'm not going to stand between you and the goldman sachs strategy conference. we want to level
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competition on the playing field. >> tell us about post mates first and foremost. your delivery service group. what is the twist? >> post mates works like a remote control for your city. allows you to browse the city of retail stores in your city and
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select items and have them delivered in a couple minutes. >> how does that work? in a couple minutes? >> well post mates operates the largest on demand delivery fleet in the united states. 25 thousand post mates doing delivers in 40 markets. it works with a lot of density and with a lot of people in the fleet. >> essentially, i see you are going to be offering one hour deliveries in london next year. that obviously means that you need to have your technology very firmly in place and make sure that it works before you launch something like this. are you on track for that? >> yeah, i think you will see us launching in london in q two of this year. we're very excited about it. i lived in the u.k. for a while. we started working on post mates
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when i was still living in the u.k. so it is a little like coming home. >> how do you deal with the competition from some of the bigger groups out there like amazon for example, which i think is fair to say is doing a pretty good job of scouring the markets. >> yeah, there is a lot of competition in the logistics space and the on demand delivery space. but for four and a half years now we're very focused on what we want to build internally. and at least in the united states i feel like that post mates has the public vote. we're glad and fortunate now have the have customers have use the product and very high repeat usage rates and we'll take it step by step. >> how is funding as well? are you raising more money due to the development of the company? >> well, you know, the interesting thing about post mates is that we are actually on a path to praftability. -- profitability. we could be profitable in 2017 and we are very excited about
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that. we found a way to launch new markets in a way that is very cost efficient. has a lot to do with technology and how you deploy the software you have and. >> when you develop the software do you feel that you are constantly having to change your business model because technology advances so quickly? >> well i think that is a challenge that we are all facing, right? given the fact we are a technology company, three of the founders are actually software engineers. we are a technology company at the core. so constantly changing and adapting to the environment, to research is something that we are used to. >> for a company like your own, when you look at the market environment at the moment and the nervousness and uncertainty that a lot of investors face, does that impact a smaller business like yours?
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>> you know, i don't think that post mates is at the scale yet that we are directly affected by the markets. i'll give you some idea. we're doing around a million deliveries a month, which is huge for us. and we grew in the last year around nine x. and around $20 million in sales. i think it is not quite yet at a level where it's directly effected by the market conditions. >> bastion, thank you very much for being with us. founder and ceo of postmates. >> now you might be bored of trying to hail a cab. why not try a helicopter. air bus is saying it has bles established a partnership with uber to hail a copter on those "spoeshl events." the new offering will be rolled out for the first time this
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year's sun dance film festival. >> stay with tech. yahoo shares could jump by 35% if they unload their core assets. pressure to sell its stakes in alibaba and yahoo japan could see its stock jump up to 30 dollars. and we've been talking a lot about china. i'm told that we've got breaking news through on the chinese central bank. they are saying that injection for the past threes interest rate of 3 2.1% being set. they are injecting more money into the bank. the flu virus.
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hello, everybody. welcome back to this extended "street signs." i'm louisa bowyer son. european investors shaking off friday's numbers. we're pretty flat now on our european markets. brent crude dipping briefly below $28 a barrel on fears the supply glut will swell after sanctions on iran are lifted. italian banking shares trading sharply lower after an


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