tv Street Signs CNBC November 29, 2017 4:00am-5:00am EST
welcome to "street signs." i'm carolin roth these are your headlines lse shares are sold down after the ceo resigned with immediate effect and the chairman, donald brydon says he will not stand for re-election. banks rallying to the top of the european market after the tax bill passes a key vote in washington. a deal is coming the eu's chief brexit negotiator hopes to report a financial settlement with britain in the
next few days, sending sterling to a high. and kim jong-un declares north korea a nuclear power after the latest test proves the weapon can reach anywhere in the u.s. >> i can only tell you we will take care of it. we have general mattis in the room with us we have had a long discussion on it is a situation we will handle good morning yes, you're watching "street signs. glad you're with us once again what we're witnessing one hour into the trading session is a fairly strong rally when it comes to the banking stockses. i do want to tell you what the banks are doing, they're on track for the best day in two months we have the european banking index on a tear. this is on the back of comments coming from the fed chair jom ,
nominee, jay powell. we have progress when it comes also to the tax bill all of this is positive for the u.s. banking sector which had a spectacular day yesterday, up by 2.6% the best single day performance since early march on the back of those comments from mr. powell we're seeing the translation effect on this side of the atlantic as well the nominee for federal reserve chair, jay powell, he also talked about monetary policy he hinted at but stopped short of confirming a december rate hike in his senate confirmation hearing. powell essentially assured senators the status quo is likely to remain presuming he is confirmed to take over from janet yellen steve liesman sends this report. >> reporter: the more the fed chairman nominee jay powell spoke, it seemed the more the market liked what it heard the fed governor appointed by
trump to replace janet yellen spoke about his views on monetary policy and bank regulation what did he say? well, the first thing he did was dance around the minefield of the current tax bill before congress that's one area that could derail the confirmation. here's what democra democratic r asked him about the 1 trillion bill for the new tax cut >> i think our responsibility is to carry out the mandate you have given us, which is to maintain stable prices and -- >> we rely on you for data all the time i respectfully don't think you rely on us to score fiscal proposals. that's not really our role >> reporter: more importantly powell indicated he would continue the gradual policies of janet yellen, both in reducing the balance sheet and in raising rates. he even seemed dovish on the
outlook for employment and the effect on inflation. what we can do is we can push harder on maximum employment i think we're doing that i think we are looking at an economy that will go under 4 % unemployment >> reporter: powell said he wasn't certain why inflation was so low, but it allows the fed to go slowly on raising rates and he supported some easing of banking regulations, especially for smaller and mid-sized banks, calls bank stocks to rally the other big move coming out of the u.s. markets yesterday, one step closer the republicans have scored a big win for their tax overhaul after the senate budget committee approved the bill. two senators threatened to vote no, but eventually supported it after being assured their concerns would be addressed. we'll cross live out to washington later in the show you can check out our website
for why hazards still remain for the tax reform plan. the ceo of the london stock exchange, xavier rolet is stepping down. the trouble started in march of this year, that's when the eu blocked the 24 billion pound tie up that the exchange hoped to have happen. the news created a tense standoff with donald brydon being accused to forcing rolet out of his role. as part of the lse statement, donald brydon has said he will not stand for reelection as chairman david warren said he would take
over at the helm tci previously criticized the lse for not having a clear successor to rolet let's look at how this continuing sg continuing saga is impacting shares selling pressure on those shares, off by 2%. north korea claims it has successfully tested a new icbm that has the potential to hit all of the u.s. mainland this comes a week after president trump put north korea back on the list of nations that supports terrorism >> reporter: north korea fired one of its biggest and most controversial missiles today, similar to this one launched last september, an intercontinental ballistic missile, which in theory can reach the continental u.s. but not the way north korea fired this one
it went almost straight up, peaking at an altitude of nearly 3,000 miles. traveling a distance of just 600 miles before crashing off the japanese coast president trump today kept his cards close. >> it is a situation we'll handle >> reporter: defense secretary mattis added a little more detail >> went higher than any previous shot >> reporter: why now political payback perhaps. president trump threatened the regime while in south korea earlier this month the president followed up with a tweet saying he would never call kim jong-un short or fat kim jong-un was in no position to respond, three u.s. aircraft carrier strike groups were nearby now all but one has left and may be entering a new cycle of escalation in hawaii officials let reporters listen to the state's new attack warning siren
starting in december it will be tested every month >> possibility of attack today is very remote but we believe it's important we be proactive that was richard engel reporting. right now i want to get out to seoul where chery kang is standing by. what was the response coming from seoul >> well, the south korean government called for the international emergency meeting, an immediate response to the latest development that takes everything back to zero after some 70 days of relative calm and silence here i think putting two and two together, it will make it difficult for the south korean government to continue -- to
continue its calls for dialogue with north korea at this point certainly north korea looks like it's about achieving higher leverage in potential negotiations with the u.s., because it's not interested in negotiating anything with the south korean government at this point. so, the message seems to be very much clear that it's not using it for preemptive strike, but they got the weapon, and that it works, it goes far enough, long enough, and recognize it as a fug nuclear state and start talking with such understanding that seems to be the framework that north korea wanted to build with this latest missile test as well as that "important announcement" that followed quickly after the launch this morning. now, as far as the specifications of the latest
missile launch, it is something that has been tested before. back in july, price. north korea claims that it has been upgraded version it boasts higher altitude, range and the longer flight time at this point. i do want to point out we're at a point where we need more information about the true capabilities of north korea. >> chery, thank you very much for that update. we need to talk about brexit some things seem to be moving finally. they say we're still working on it, that's according to the eu's chief brexit negotiator when asked if a financial settlement of brexit had been reached with the uk speaking in berlin, michel barnier said he hopes to report to his colleagues in the coming days about a financial agreement. it happened yesterday that an agreement of approximately 50 billion euros had been reached, that led to a spike in the pound
sterling against the u.s. dollar we're seeing that continue into today's trading session. 1.3401, a two-month high for this currency pair. the ecb called for the creation of a europe-wide trading platform for bad bank loans. the proposal is part of the central bank's biannual financial stability review due to be released today german investors and households are underestimating financial risks according to the bundesbank the german economy's eight-year strength of growth has caused investors to underrate risks risks had built up in the area of low interest rates, included an overheated real estate market and trouble at some banks. joumanna is in frankfurt last time we heard from them in may there was concern about rising bond yields what's the focus on this time,
do you think >> exactly i thought the comments were interesting. it is an admission in some sense that perhaps interest rates being too low could have been a factor for financial instability. that's an interesting angle. let's take a step back and go over what some of the main concerns were back in may. back then the focus was on rising bond yields, and the effect rising bond yields would have on debt sustainability, be it in the private sector, public sector, also another major concern was bank profitability in an environment of lower growth since then what we've seen is european growth picking up, but bank profitabilities has not done that much perhaps bank profitability will be front and center of today's stability report be it there are a lot of issues to be addressed
there. let's take a look at how yields and how the markets have done since may to give context. we've seen yields have done nothing since may. in fact, the tep-yen-year bund l is about 10% lower, the currency is stronger, periphery yields are 45 basis points lower, so they can't point to bond yields being a major instability going forward, but the banking sector notably is down 5% that's another reason i'm expecting and the market is expecting the bank profitability pillar to come up in today's financial stable repoility repot we need to pay attention to european political risks and i will be sitting down with the vice president of the ecb in a few hours to ask him some of these questions and what the real financial stability risks are. back to you.
>> thank you very much for that. join us on twitter at streetsignseurope@cnbc you can also tweet me at @carolincnbc. we're also going to get out to vienna. steve? >> thank you very much i never tire of topec some say look, you guys, get this right or the market could tank a lot of people are look at the message and the deed itself. we'll be back after a very short break here on "street signs. we're playing hide and seek with kids battling cancer at st. jude children's research hospital. shhhhh... sorry... at st. jude, no family ever pays for treatment, travel, housing or food... because all a family should worry about is helping their child live. you think they'll find us? not a chance. ooops. give thanks for the healthy kids in your life.
to continue production curbs throughout 2018, but there's growing concern that russia may not back the new plan. steve is in vienna >> thank you very much are we being gamed here or are there genuine concerns out there that opec and non-opec allies, russia, will balk at a full nine month extension that is due to finish the end of march? i want go backwards one step and say look, for all those people who keep saying opec is dead, shale is there, there can be symbiotic coexistence. and opec has kind of won over the last year. it got the prees up ice up, inv is down, and it has full compliance it set out to do x, and has achieved that. the contention is about today, tomorrow and going forward let's loisten to what the uae
energy minister said to me >> we are waiting to meet with everyone it's not practical to give you what is going to be discussed before the discussion. what we can tell you is we will discuss several other options. >> we're a funny lot here at opec all the ministers have their idiosyncrasies, the pack is very delightful i met someone who has been around a long time at opec, you've been coming here longer than i have. so, you know better than i that it's about the interpretation of the deed as well as the deed
your comment, which i teased before the break, they better get this right on message. tell me more >> the reason why they have to get it right, the market is expecting a nine-month extension. it's built into the price already. so if they don't get that wrapped up nicely with a bow, then there's risk for downward pressure on price, just alone from that. the other reason why they have to get it right, actually, according to our analysis, when you come into the first quarter of next year, the fundamentals are weak we are showing a large implied stock build of over million barrels a day. there's two reasons why to get it right >> why is there such a big difference between what mckenzie says, the iea says and opec are saying they're talking about extra demand on the opec call, up to 33 million the iea is saying we think there could be a build up in supply. why such a difference? >> it's a huge market. it's global.
we're talking about 95, 100 million barrels a day. you're trying to gather statistics from 80, 90 countries. when we look back at the demand forecast, they get revised a lot. here's an interesting take for opec generally the last few years, our demand forecast and others are getting revised upwards. it could be opec is justified in this our best analysis is more in line with the iea in terms of where we stand on demand >> that's interesting. i've been looking at the chinese demand we spend a lot of time looking at supply but not perhaps enough in the market world. thosekom mrcome latelies are annoying, aren't they? >> talk about annoying optics showing up let's say it partially kicked
off with the hurricane that shut in refineries in the u.s. gulf coast. we're talking about almost 5 million barrels a day. where is the oil going to go production didn't shut in. it started partly from that. the dynamics in the market, the economics are wide brent wpi spread that gets sold to asia easily. it's a nice, light sweet crude that is well known by now. the oil export ban was lifted in 2015 for the u.s >> this goes to the heart of those concerns, those session concerns if we are holding the line and we're 300,000 barrels down and not growing on new greenfield projects, those oil guys are taking our chinese market. that's it, isn't it? >> it is in the middle east they have to sit and watch the u.s. absorb market share let's keep one thing in mind, crude quality. the u.s. crude is light sweet.
russia's crude and the crude out of the gulf is heavier, medium that's what people want right now. from that point of view it's better for opec and russia to watch this what about the bromance, they weren't holding hands when they arrived last time around, the middle of the year, they came out in the same car, the message is clear, this is a long-term relationship. do you believe that? do you believe that saudi and russia are entering a long term cohabitation of the same space >> yes, i kind of do, but this meeting will be a test of that bromance there's a little bit of disagreement no. issues have to get ironed out. how do we end the agreement? how do we tail off on increasing production and bringing it into the market without collapsing prices this is a test of the relationship in terms of the solid base of this bromance, king salman was in russia for the first ever
russia >> this goes above, dare i say, it goes to putin and king salman and mohammed bin salman. so in terms of this going forward, we think it has longevity what about the politics we knows there a lot of politics in the middle east and different sides of the syria dispute can it survive the politics? >> that's the question we got this meeting. can it survive that? it's looking okay. we have the ongoing political issues in the middle east. syria has been one stumbling block. russia is more tight alliance with iran than the saudis would like we have political issues to get through. it looks like for now the saudis are tempting to wade through that with russia and avoid head to head confrontation. >> you are a long-term opec watcher. i'm a long-term opec watcher we never met i'm thrilled we addressed that >> it's very nice to meet you.
>> how nice to meet a new face on a beat you've been doing quite awhile >> you go. steve, you're making new friends in vienna, that's always nice. philips lighting is trading lower after philips cut its stake in the lighting business the sale worth around 550 million euros ends philips control of the lighting company. they intend to fully sell down their stake in years to come shares off by 2.74%. siemens is reportedly going to choose frankfurt over new york for the listing of its healthcare division. according to reuters, the german conglomerate could make an announcement as early as today after a meeting with the supervisory board. the medical equipment unit could be val rued at about 4$40 milli. we spoke about the timing of the
listing earlier this month, and there was an indication of when they could pull the trigger. >> when it happens depends on market conditions. knowing that i cannot much do about the car mmarket conditioni want to make sure my company is ready and we go when there is optimal timing we will be done by latest march of 2018 with our internal preparations, and look to the market on what it does and what the options are. we'll take it from there i like to stay in control and not be dependent on other factors that i cannot control. we do our job. we have a fascinating healthcare business we will float the business we believe this is an attractive market and we want to keep control going forward. we will go for a quick break. coming up, progress is being made on the brexit divorce bill, but people in ireland and northern ireland worry about the potential return of a hard
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welcome back to "street signs. i'm carolin roth these are your headlines lse shares are sold down after the ceo resigned with immediate effect and the chairman, donald brydon says he will not stand for re-election. banks rallying to the top of the european market after the u.s. equities hit fresh highs after the tax bill passes a key vote in washington a deal is coming the eu's chief brexit negotiator hopes to report a financial settlement with britain in the next few days, sending sterling to a two-month high against the greenback. and kim jong-un declares north korea a nuclear power after the latest test proves the weapon can reach anywhere in the u.s. >> i can only tell you we will take care of it.
we have general mattis in the room with us we have had a long discussion on it is a situation we will handle >> here's a quick look at u.s. futures. we are still a few hours away from the start of the trading session, looking mixed here. the dow jones seen up by roughly 80 points. the s&p seen down to flat. the nasdaq off by six points so far the missile launch hasn't had a huge adverse impact on the markets. we saw lots of stability in the asian trading session. yesterday the dow soared 255 points to another record this is in part because the senate is getting closer to passing the tax reform, but also we got supportive comments coming from the fed nominee, mr. powell when it comes to banks and regulations. banks had a strong day yesterday, up by 2.6% in the
u.s. sector as a whole this is translating into the european trading session this morning we are led higher by the banking sector, which is on track for the best day in about two months the xetra dax is up by 0.75%. the cac 40 up by 0.50% some stocks lagging on the ftse 100, one of them is the lse after the ceo is resigning with immediate effect that index is down that is also linked to the fact we are seeing a spike in pound sterling that is the big story in the currency markets pound sterling against the greenback, cable, that is, up by a half of a percent. 1.3402 on the back of this story, that's according to the eu chief brexit negotiator when asked if a financial settlement had been reached with the uk. michel barnier says he hopes to report to his colleagues in the
coming days about a financial agreement. it happened that an agreement of approximately 50 billion euros had been reached sterling jumping on that report. downing street so far has played those reports down for the most part prime minister will visit brussels on monday for more talks so far the market is liking a break through here when it comes to the divorce bill. should the divorce bill be confirmed, the uk government will expect to move on to free trade talks with the eu, however issues over the northern ireland border are still to be resolved with concern that a hard border may be reintroduced. ireland has repeatedly threatened to prevent talks from progressing without a written commitment from the uk that includes a solution on the border robin swann has been speaking to willem in belfast. he said he was concerned about the potential return of a hard
border >> it does worry me that the representative last night seemed to indicate this may go back to social issues and social concerns on the street i don't get that i hope not as an architect of the agreement, that's what we hope the last 20 years would be about, moving away from that civil conflict we have i think we're far enough, mature enough and northern ireland and our society realize this has to be solved politically. >> they have been adamant that he will not accept northern ireland remaining as part of the customs union, as part of the single market. i know your party has been similar on that. do you think that given that business leaders say that's a mistake, that there should be some possibility movement on that hard line view? >> on that view, you know, i can't see how we remain part of
the customs union. we are leading this as part of the uk, that's where we are constitutionally i suppose that argument comes down to the greater trade negotiations one thing we put forward as a party, i'm disappointed they have not picked up on it yet, is spatial status the push is for spatial status for the republic of ireland which allows them to continue to trade with one of their biggest trading partners, gb we have similar agreements in regards to the movement of people and the republic of ireland which allows the free movement of people throughout europe but the republic of ireland will stay outside of that because of our special common travel agreement. >> willem has more perspective >> that's right. we heard from robin swann, and we're now joined by a member of
sinn fein. thank you very much for joining us you remember t you are a member of the legislative assembly and once mayor of belfast robin swann says northern ireland is mature enough not to worry about social tensions if a hard border is introduced. sinn fein seems not to be. >> the most important factor here is a majority voted to remain at the heart of europe. we have a peace agreement here, 1998 good friday agreement, international agreement, it says that we should make sure what do the people of northern ireland want do before we make these major decisions which will affect all our lives in my view, to crusade with brexit, to drag us out of europe against our will would be a major mistake and would exka late tensions rather than ameliorate tensions. >> your party believes in one
day having ireland united and the dup, your opponents, they're very much keen to remain part of the you are nightunited kingdom. she sa does sinn fein think that is a workable solution? >> the only solution, unless you want to impose economic disaster, political calamity and hold back and damage the peace process, then you need to find a unique solution. michel barnier has said this, the irish government has said this that unique solution has to be that we maintain the status quo, stay within the customs union. only in that way can we avoid that hard border everyone agreed that a hard border would be calamitioucalam. >> you're getting people from
scotland, getting ministers from the devolved government in wales, they're having a say at the table, but in northern ireland you're getting civil servants sent to the british government why can't both sides put aside their differences and go and settle this? >> we have four mps in parliament, we have a voice there. and we are irish citizens, all eu citizens, the irish government also represents our interests at the table mrs. may did not executives from northern ireland to be at the negotiating table. we don't have a place at the table. we agree the dup should unite with us to oppose the damage proposed by brexit but they are brexiteers. they don't want a trumpian solution, a hard border. we would love to be welcomed
back into the government >> do you think the irish government is right to continue to threaten a veto on the progression of talks over this issue unless they get a written commitment from the british government >> i think the irish government said we want a solution which is in -- >> they want a written commitment do you think they're right to expect that? >> they have to start firing strong for those who voted to stay in europe they have to stand strong behind irish citizens who live north of the border that means we must stay within the customs union, within the single market, have the protections of the european court. anything else would be a major setback for the peace process. >> that was the former finance minister of the northern ireland executive, a member of the legislative assembly here and the mayor of belfast a lot of moving parts in the next coming weeks ahead of that summit in brussels theresa may under pressure to
put forward a concrete border. >> this might be the moment to shine. thank you very much for that. one step closer. the republicans have scored a big win for their tax overall after the senate budget committee approved the bill. two senator the threatened to vote no but eventually supported it after being assured their concerns would be addressed. the bill could get a vote in the full senate as soon as thursday. tracie potts is in washington. does the senate have enough votes to pass this on thursday they only have a 52 majority >> they can only afford to lose two. we don't know yet. we do know getting out of committee with those two skept tick skeptices voting in favor of it was a major hurdle the concerns are that small businesses and low income americans are not getting a good deal out of this tax bill,
especially with the roll back of the obama care mandate, the affordable care act requirement to buy insurance that the congressional budget office has told us weighs heavily on how low income americans will or will not benefit from the bill. they think over the next decade they'll pay more in taxes. there are still some tweaks that they're making to try to appease people who have concerns with this bill. it does seem to be moving on the president will be in st. louis today trying to pitch his tax plan to the public what he's not done is sit down with democrats to talk about the budget still up in the air we have a hard deadline of next friday to get a budget in place or we could be looking at a government shutdown. behind the scenes, aides tell us democrats and republicans are working together but democrats, top democrats here failed to show up for a meeting at the white house after the president criticized them on twitter saying that he didn't see a deal at all. he ended up with two empty
chairs next to him behind the scenes we're told they already have a budget outline in place >> but what happens after we potentially get this senate passing the bill on thursday then i guess the house and senate versions, they have to be merged, then that will have to be voted on before it lands on the desk of the u.s. president what is the timeline here? >> they want to get it done by christmas, which is giving them a few working weeks to try to get this done. make no mistake, reconcilie ini what the house passed and what the senate passed there are differences there that could take some time thank you very much for that you can find us on twitter at streetsignseurope@cnbc and tweet me at @carolincnbc. coming up, donald trump's daughter, ivanka, is urging india to address its gender imbalance as a way of boosting the economy. more on that story after this short break. [vo] when it comes to investing,
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ivanka trump is telling india that making the workplace more favorable for women could unlock 1$150 billion in new growth >> make america great again was not her message, instead ivanka trump here in india spoke of closing the gender gap female trumpneurs in developing countries were nor limore likeln not to hit a glass ceiling >> if india closes the gender gap by half, your economy could grow by 1$150 billion in the net three years. as we kick off this three-day summit, i encourage everyone here to come together, learn from each other, and find new ways to lift barriers in our society so that women are free
to innovate, empowered to succeed and able to leave our children a brighter future >> reporter: this event with over half of the 1,500 attendees seeks to address the imbalance by connecting startups with funding, networks and technology the indian prime minister said his start-up india campaign is benefiting women-owned and operated smes. >> the event not only connects the silicon valley with hyderabad, but also shows the close tries between the united states of america and india. it underlines our shared commitment of encouraging opportunity and innovation >> india certainly seems to be open for business under the modi
administration, and females are breaking through, but demonetization has been a painful adjustment for many, and migrating to a digital economy is the next big challenge. but also a vast opportunity for this country i'm sri srinivasan in hyderabad, india. >> bitcoin passed the $10,000 mark for the first time ever the cryptocurrency has risen over 900% this year, getting a recent boost from new retail investors over the thanksgiving holiday. the current market cap of bit cone stan coin stands at 1$176 billion a softbank led consortium launched its tender offer for shares in uber some early investors in the app are planning to sell the stock
joins us now is the investment partner from tmt investments, a venture capital company, and this should be a sweet spot given all the legal and representational issues that uber is dealing with how are they capitalizing on it? >> what they're doing is keeping not just the riders but also drivers happy, but they essentially have created such an efficient system that it allows them to run very successful company on a very, very efficient technology so they don't have to take as much as uber takes they give more to the drivers. >> what we saw yesterday in terms of news flow is that softbank was going to invest massively into uber, but at a 30% discount still the market cap would be around 68$68.5 billion. that must be music to your ears
give than you have invested privately into one of these ride hailing apps. when do you think taxify wants to exit and what kind of valuation are you hoping for >> a significant investor in tax fi ify is didi, and hopefully we're looking into a much larger exit at some point. it's hard to speculate, but i think it would be safe to assume that a xaechb company as large r and lyft would be looking for significant acquisition. it would be sort of a champagne problem for taxify to see if they would want to grow significantly and have maybe their own exit, an ipo or something like that. or if they want to be bought by
a major competitor >> champagne problem i like that term let's talk about bitcoin, smashing through the 10,000 level. we don't know where it will go, whether it will drop significantly or rise further. who knows at this point. so far you have not invested into blockchain backed technology are you looking at it? how do you feel about bitcoin? >> we're activity looking at it. as we were talking, i think i went to four conferences in the last four weeks. it's not so much really just blockchain as technology, it's the concept of decentralization. whether we want it or not, everything is decentralizing it's a great idea in terms of security, a great idea in terms of democracy, and in terms of empowering the users
it is also fantastic as far as keeping the customers happy. since london is such a financial hub, i think the innovations here are mind boggling as far as bitcoin, it's hard to speculate. i met with quite a few people who are holders of real fortunes in cryptocurrency, they all say varying things, and nobody knows. even people with billion dollar holdings >> it's impossible to forecast what will be happening do you think that regulation is robust enough around these cryptocurrencies >> i think regulation is almost not there at all i think some countries are doing a great job. japan and several others trying to be at the forefront of it but not to criticize the lovely united kingdom where we are now, or the united states where i'm hailing from, but i think we're significantly behind definitely regulateders are trying to do something, but i
think they need to see cryptocurrencies and blockchain in general not as their enemy but as a force to stay, and certainly they should deal with criminals, shadow operations, but make sure technologies play their positive role. >> let's talk about some other investments that you made. you invested into cloud, but also subscription-based models why do you think this is the future >> subscription-based models are winners for one simple reason. typically when you're scaling a company, when you have a start up or when you have an already well established company, one of your major cares is customer acquisition. this is how you grow if you have a subscription model, you don't have to every time go out and get customers. you already have them. it's what they call a progressive mosul for good reason, because your customer acquisition costs go down. you're predictable as you grow, you know what next month's revenues would be.
so tremendous companies that we have, quite a few, they're growing extremely fast most of them are actually based on subscription. >> all right thank you very much for that really appreciate your time. head online to see what experts have to say on the future of cryptocurrencies a lot of debate around it. let's wrap up some of the biggest news of today. the eu's chief brexit negotiator says the two parties are working on a financial settlement. michel barnier said he hopes to report to his colleagues in the coming days about an agreement it was reported that a deal of approximately 50 billion euros had been reached sterling jumping on the reports, but downing played them down prime minister may is due to visit brussels on monday for more talks the co of the london stocks exchange, the lse, xavier rolet
is stepping down in october, rolet announced his intention to resign by december 2018 and the news created a tense standoff with activist shareholder the children's investment fund who accused donald brydon of forcing rolet out of his role. an investigation called for the chairman to step down as part of the lse statement, done nad brydon said he will not stand for reelection as chairman before we wrap up, a quick look at u.s. futures. the dow jones opening up by 50 points the s&p up by less than one point. the nasdaq off by five points. we did see another record high for the dow. soaring 255 points yesterday as
the senate is getting closer to passing that tax reform. we also had quite a few spectacular gains in the banking sector on the back of comments about regulation, softer regulation from the future fed chief. >> we will look at the rockefeller christmas tree in new york which is set to be lit tonight. yes. tonight is the night that's it for today's show i'm carolin roth, "worldwide exchange" is up next see you tomorrow bye-bye. your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory.
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rally on stocks sore to record highs as investors cheer tax reform. and north korea test launches a new ballistic missile that it says can hit the u.s we're live on the korean peninsula with the latest. and the incredible run continues. bitcoin blasting through the $10,000 mark it's wednesday, november 29, 2017, "worldwide exchange" begins now ♪ good morning a warm welcome to "worldwide exchange" on