tv Street Signs CNBC July 17, 2018 4:00am-5:00am EDT
welcome to"street signs. i'm willem marx. these are your headlines european stocks lack direction, but casino shares push higher after the retailer posted better than expected sales. thyssenkrupp shares jump after the chairman quits reviving hope for a major restructuring at the german industrial conglomerate. and investors take a bite out of f.a.n.g. stocks after netflix misses subscriber projections adding over 1
million users less than forecast and sending shares down after hours. president trump stuns critics and allies alike after failing to take on president putin over election interference, instead casting doubt on the reliability of his own intelligence services. >> i have great confidence in my intelligence people. i will tell you that president putin was extremely strong and powerful in his denial today good morning not an exciting start for the european markets the stoxx 600 is slightly above the flat line. 0 0.6% evenly poised at this stage of the trading day. in terms of the individual markets, the cac 40 is below that flat line in london, the ftse 100
performing well, up 0.5% let's look at the individual sectors. you can see basic resources are bouncing back after yesterday, up nearly 1% the insurance industry performing well, up two-thirds of a percent telecoms are down. and a strong performance in the french market coupled with improving trends in brazil helped casino beat second quarter sales estimates. they reaffirmed financial targets. last month casino announced plans to sell 1.5 billion worth of assets by 2019 in an attempt to reduce its debt pile. and thyssenkrupp's ceo has
departed, coming weeks after the former chief executive stepped down and as calls from activist investors press for major restructuring at the company thyssenkrupp has faced criticism for attempting to merge with tata steel. and strong but not stellar that's how netflix described its second quarter, but investors appeared to disagree sending shares down 14% in extended trade. the streaming platform reported 674,000 new do mes ek subscrimec subscribers. the firm missed expectations for the first time in five quarters. netflix issued weaker than expected gee ed guidance for th quarter. julia boorstin has more on this. >> reporter: subscriber growth stalling short of estimates
sending shares plummeting. the company adding 5.15 million subscribers, more than a million short from the 6.2 million it projected it would add netflix forecasting lighter subscriber growth in q3 than expected, 5 million new subscribers versus the 6 million analysts projects. reed hastings did not attribute the shortfall to competition but to challenges to the internal forecasting. revenue came in at 3$3.9 million an increase of 40% from the quarter earlier. hastings did address growing competition head on saying he believes there's room for multiple properties to have attractive offerings for consumers and saying they expect more competition from the time
warner merger. hastings saying his strategy is simply to keep improving as well as releasing those results, netflix gave viewers a first look at its new queen. the show tweeted a picture of olivia colman as a slightly o older queen elizabeth. the streaming service expects more competition from at&t/time warner and whatever happens in the battle for fox. disney is looking more like a winner that bidding war, as comcast is highly unlikely to counter bob iger's offer for fox assets shaamazon shares came under
pressure in extended trade after the website crashed yesterday. the e-retailer suffered glitches which slowed sales at the start of its biggest shopping sales of the year, that it branded prime day. amazon said it was working to resolve issues quickly amazon/netflix is set to drag tech stocks down in the u.s. tech stocks in europe are also underperforming in early trade bank of america posted its best day since march after a better than reported second quarter result profit topped analysts expectations bank's results differ from citi group's which reported weaker than quarterly revenue last week the chief executive of citigroup said there are fears of global
exposure >> there's concerns around global exposures city being the most global of the banks. trade rhetoric, macro. so people look at that and took pause. today people are getting through the numbers. analysts have come out and written their pieces and are quite constructive in terms of what we're doing goldman sachs will report today and morgan stanley tomorrow goldman will name david salomon as lloyd blankfein's successor the trade war will be addressed by jay powell when he testifies on capitol hill today. investors will look for clues about how escalating tensions could impact the u.s. economy and alter the fed rate path. powell will have an appearance
in front of the house financial services committee tomorrow. and neel kashkari said it is time to pause rate hikes citing the flat yield curve which means interest rates are close to normal the non-voting policymaker says raising rates could invert the yield curve, this would risk putting brakes on the economy and could trigger a recession. his comments come as gaps hit a fresh 11-year low. we have eric nielsen from unicredit with us. these comments seem to be not entirely unsurprising when you look at data i wonder when you wait to hear from chairman powell today on capitol hill, is there anything he will say that you think could alter that balance in terms of future decisionmaking? >> i don't think we'll get a clear message. powell doesn't speak in clear economic terms for good reasons
probably it is interesting. there's been a shift a year ago, porat was the only one who talked about the flattening curve that you should worry about. as late as december, janet yellen in her last press conference dismissed it, then in the last minutes we got from them you saw clearly now there are several members starting to worry about it he may change the tone ever so slightly but i suspect that it's going to be certainly not a clear message. >> you mentioned janet yellen's last press conference. i think it was the last question she answered a distinction between correlation and causation. do you think that this idea, you go back over the last 50, 60 years, you look at that flattening yield curve, that inversion as a canary in the coal mine? do you buy this idea that this time around it's not a useful
anticipatory tool? >> i don't if you -- since 1960, it has seven out of eight times of the recessions we've had an inversion before it doesn't mean the inversion of the curve triggers recession that could be a third element that sort of drives two things at the same time when you get that degree of correlation or coincidence, you have to sit up and watch that said, of course the term is low, things are going on with the balance sheet. so there are a lot of issues there's a possibility it could invert and nothing happens on the economy. it rhymes with the economic models we do on labor market data and other things that suggests there is a potential recession on the horizon maybe 18 months, two years out >> what about the here and now,
the numbers from europe and the u.s., do they suggest the global economy is in as great a shape as they are being interpreted? >> i think the latest numbers we've gotten suggest that you have a -- the first quarter was a blip things are stabiliziing again. my point is don't get too carried away with good numbers now. in america you are being stimulated by this enormous fiscal expansion that won't last forever. so the question if you're an investor is how long do you remain invested if you buy the fundamental story that sometime next year you get a slowdown as we move to recession 12 months later. that's usually the time when the market doesn't like it anymore i don't like telling clients the economy is fine here to here, but then there's trouble if i can see that trouble, usually the market can see it
before then. >> do you think kashkari's suggestion that let's chill out, slow down, let's not have more rate hikes in the near future, is that the answer given the signals the market has given >> if i was an fomc member i would slow it down we've seen again and again that the reason why the curve normally flattens and then inverts is the fed keeps on going too long yes, inflation is a bit high what is the big deal they have a fantastically difficult job. they have the second longest recovery or expansion in history. then they have this enormously expansive fiscal policy at the top of the cycle we don't know how that plays through to the growth numbers. then you have the trade story. you have enormously conflicting signals from policymakers. so it's a tough job. >> you mentioned the trade
story. i want to come back to that later. i want to talk about trade in more detail in a few minutes time if you have any views on the flattening yield curve what it might mean in terms of future recession in the next 18 months or so, get in touch on twitter you can also tweet me directly coming up, president trump sparks criticism and is even labeled treasonous after appearing to side with vladimir putin over u.s. election interference plaque psoriasis can be relentless. your plaques are always there at the worst times. constantly interrupting you with itching, burning and stinging. being this uncomfortable is unacceptable. i'm ready. tremfya® works differently for adults with moderate to severe plaque psoriasis. with tremfya®, you can get clearer and stay clearer.
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welcome back to "street signs. let's look at the oil price so far. you can see brent is trading up almost half a percent. wti is trading in positive territory. we had some action in norway some people have been on strike. this comes on the back of increased exports from libya where some ports have been
reopening. we've seen sterling very, very slightly stronger against the dollar we watched uk unemployment numbers due out in about 50 minutes time the euro is significantly stronger against the u.s. dollar russian president vladimir putin dismissed any idea that his country interfered with the u.s. election in 2016. he said it was due to internal political games in the united states hadley gamble joins us from the finnish capital where that meeting took place after that extraordinary press conference yesterday, this was a tough interview of vladimir putin by fox news' chris wallace, wasn't it
>> yes absolutely very much in line to the work chris usually does he was tough on him. he put the mueller indictment in front of him he went at him again and again, and the russian president saying again, we have nothing to do with this. this is not something that comes from the russian government. it's interesting to note what he said about u.s. president donald trump. >> translator: we don't have anything on them there can't be anything on them. i don't want to insult president trump when i say this. i may come as rude, before he announced that he would run for presidency, he was of no interest for us. >> one of the few humorous moments we've had in the last 24 hours. democrats and republicans, former and current members of
the u.s. intelligence community lashing out at the president we've seen a tweet from john brennan saying this is tantamount to treason. u.s. president donald trump yesterday basically calling into question his own intelligence community and seeming to side with vladimir putin when it comes to what happened with those 12 russian intelligence officers so a lot of questions about what was accomplished at this meeting. we saw the two leaders cordial it was interesting we saw that democrats and republicans coming out with a lot of anger at the way the u.s. president handled this we have to wonder if this will play as well with his base at home >> that's the big question, isn't it does he have the political support in the united states to continue with this behavior or will these senior gop politicians, will they come out and say enough is enough they're facing criticism themselves from the other side of the aisle, from democrats,
that they're not doing enough to stand up to president trump >> this speaks to the fundamental question of the future of republican party this is not republican party of ronald reagan or of george w. bush there are questions about the party, and whether they will get the support from the grassroots level that we have seen from the last several elections and the president more concerned with what's going to happen with the economy and what's going to happen with oil prices we heard from president putin yesterday saying there was room for maneuver and dialogue when it comes to tackling prices and opec as well and he seemed to suggest there was room for the u.s. and russia to work together that has to be music to mr. tru trump's ears >> hadley, thank you very much for bringing us that from helsinki we're joined by eric nielsen
from unicredit we talked about the flattening yield curve and the u.s. economy. we have not talked about trump and his trade policies are all these policymakers tiptoeing around the room? these are external risk factors. do you see them as being more significant potentially than things like underlying wage growth pressure, underlying inflation? >> yeah. it's a huge issue. it's huge because it's not -- it's almost certainly not temporary. it's a shift of rolling back globalization in an unfortunate way. this idea, it's an illusion to think there is somebody who
stands up and says you do dumb things but i won't retaliate you have to retaliate. there's as winners and losers. you do tariffs, there are some r winners, but there's few i think with the numbers out from the imf on the possible cost of this, it's huge to the global economy >> in terms of the global economy, it's slightly under 1%, for the u.s. economy it's slightly more significant. >> they're waging wars on all front. you can do one or two. you don't have three fronts. any military officer would tell you that trump is applying that to everybody around the world >> china, mexico, canada >> absolutely. the only ones he seems friendly with is putin and north korea. so he's on a war path.
there's the work done on the -- using the imf's global model, they said what if the u.s. did 10% tariffs on all imports, and everybody retaliates 10% against the u.s. but not anything else between europe and china, you have the world economy slowing by almost 1%, but the big story is the u.s. that drops by 2.5% >> you mentioned europe and china not working together yesterday we had european leaders meeting with chinese leaders to try to deepen and strengthen the trading relationship that's the same day that the u.s. launched these complaints against the tariffs. is trade the fact their brings down the house donald trump was elected to improve the u.s. economy
do you think these measures, these tariffs could blow that away >> i think the -- as far as i can see, the tariffs he imposed. the story about protectionism plays well in some swing states in america i saw an interview with one of the workers at harley davidson after the europeans said that's what we will target, he was on trump's side there's a -- politics is a funny thing. with the help of the media, twitter, truth doesn't come out to a lot of swing voters and the result is that it may politically play well for him. that's a bad thing there's not a natural stop on this where is the republican party? the party that stood for free trade, good for business, fiscal prunes, where is that?
you get mccain, one or two, but where is the american republican party? >> you talk about the politics robert lighthizer says in announcing these complaints, the wto, that the partners instead of working with us to address a common problem, some trading partners elected to respond with retaliatory tariffs designed to punish american workers, farmers and companies. that's similar language to cecilia malmstrom. she says the u.s. than trying to solve this problem of steel dumping, they launched these tariffs that are not rated and said it's about national security long-term, not short-term, long-term does this shift that you're talking about, does this spell problems down the road three, four, five, six years because of these political differences between major trading partners >> yeah. in my opinion, trump is trump in the sense of the race with
russia he's unique, but not unique in trying to wind back part of the globalization story. the reason is that the income distribution has shifted dramatically in america and in europe, so the labor share has come down, the bottom 90% or so in america have not done well. he's playing to that unfortunately in the wrong way in my opinion. i don't see that change. yes. trump may go away hopefully, if you don't mind me saying, but the next one is unlikely to start to wind back during the presidential campaign, hillary clinton started to talk about having to revisit nafta and some of these things free trade had come to a stage where because -- where it started to become a political liability because the politicians didn't understand they had to redistribute the benefit more evenly. >> we'll leave it there. thank you for coming in.
royal mail shares have reversed an early fall after the company posted a rise in revenue of 2% after reporting a fall in the number of letters delivered in the first quarter they cited customer uncertainty around the implementation of a new european data privacy law saying they're working with customers on small mail requirements coming up, the government rvesth test on brexit. we'll discuss after this break ♪ ♪ i'll help you carry on ♪ ♪ lean on me.
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olay. welcome to "street signs." i'm willem marx. these are your headline s from london european stocks lack direction, but casino shares push higher after the retailer posted better than expected sales. thyssenkrupp shares jump after the chairman quits reviving hope for a major restructuring at the german industrial conglomerate. and investors take a bite out of f.a.n.g. stocks after netflix misses subscriber
projections after adding fewer users than forecas and sending shares down after hours. president trump stuns critics and allies alike after failing to take on president putin over election interference, instead casting doubt on the reliability of his own intelligence services. >> i have great confidence in my intelligence people. i will tell you that president putin was extremely strong and powerful in his denial today bringing you quick uk unemployment figures the one to watch is uk average weekly earnings. up 2 .7% year-on-year that's in line with expectations the rate, of course, 4.2% last time and this time pretty much the 40-year low for uk unemployment you can see that sterling has taken a pop on that news slightly higher than it was the
last 20 minutes or so. in terms of currencies more broadly, besides that cable number, the euro was also similarly strengthening against the u.s. dollar. the dollar slightly stronger against the yen, but itself is weaker against the swiss franc let's look at the european markets. you can see the xetra dax and the cac 40 in germany and france are both in negative territory ftse 100 up more than 0.10%. in italy, the ftse mib is up more than 0.27 markets u.s. markets looking to open up in a few hours time. u.s. futures we'll see towards the end of the program. theresa may has narrowly seen off a rebellion after surviving a series of parliamentary votes on her brexit plan. this after caving in to four amendments among them put forward was a measure aimed at frustrating
pr theresa may's customs arrangements may insisted they were compatible with what was laid out. >> i would not have done all the work i did to reach that agreement only to see it changed in some way through these bills. they do not change that checkers agreement. >> and in relatively related news, the british electoral commission has fined vote leave 61,000 pounds and referred it and one official to the police for spending rules they say vote leave worked with another group, be leave, with joou working with spending levels we have the founder and chairman of finsbury with us this morning. let's start with that leave from
the electoral commission in light of the behavior of donald trump yesterday, just for the sake of argument, essentially refusing to condemn russian interference in u.s. politics, do you think the legal authorities here, the political leaders in this country, the uk, should they be doing more to examine funding on the other side of the campaign that you faced during that 2016 referendum >> it's a big thing to break the law. political parties don't lightly overspend because they know that they cannot break the law. to do so would be seen to be terrible in the public's eyes. vote leave had no such function. we know that they didn't tell the truth about funding for the nhs, in terms of money they said we were spending with the eu, which wasn't true. they also said turkey was about to join the eu, millions of muslim turks were about to arrive now we know they broke the law it's incredibly serious and right that government figures
should say that, call them out and people who have worked or work in number 10, part of that campaign, also have to be held accountable. because breaking the law in britain is a very, very serious offense. >> the checkers proposal, we mentioned that faced quite a few challenges in terms of amendments yesterday that may or may not be viewed as contradictory to some proposals laid out by prime minister theresa may. do you think that checkers proposal is as dead as some conservative mps suggested it is >> it's taken two years of arguing amongst ourselves before we had a semblance of a proposal to put to the european union once we had this proposal ready to put to the european union, it's been held under the water by some extreme brexiteers her version of the customs union can only work in one way, which she says in the original
document that she put out, which is the person collects tariffs and puts it together with the eu that's why the brexiteers insisted on that they accepted this, which is a sign of weakness i don't see how the european union, if they were ever going to actually work through the first proposal are going to be able to take on board this new one with these amendments which are designed to make it unworkable >> for viewers across europe watching this, the intricacies of british politics not that interesting. what i want to understand is do you think these internal divisions in the conservative party make all the negotiations with european union long-term unreasonable in the sense they're trying to come up with ideas that brussels will never accept like the one you mentioned there. is that not a challenge? >> that's true
now we know how hard this is during the referendum campaign we were told by people it would be easy, we would get a trade deal quickly it took two years before we were ready to actually know what we wanted from the european union there was that famous meeting in davos between merkel and may which merkel said what do you want may said no, what will you give us to take two years having triggered article 50 early, which we should have never done is complete madness. i think what it shows is the division within the cabinet, within the country, within the government and the only way really you can reconcile all of that is now to have a peoples vote on whatever this final deal is going to be >> you talk about that a lot of peoplnegative politicad economically >> the only way to get through the logjam is that way if you look at the math, it's impossible for a deal to get through parliament given where the numbers are. >> if that's the case, then one
of the very few options available to the prime minister -- >> is to try a different mandate. >> well, is to say there's all these facts that have come to light the last two years that we had no idea about. not least the one you said about vote leave having cheated. we have to put this back to the people in light of these new facts, let them decide and do what they want if they want to stay in the eu, we stay. if they want to accept whatever deal that is cobbled together, they accept that >> you're essentially saying there's no brexit proposal that you think can command a majority of members of paraphernaliament in london. theresa may narrowly won this vote last night a couple of people were not in the chamber, that helped her. we had more junior ministers resigning because they wanted to vote against the government.
she has been hemorrhaging cabinet members. do you see a way she can continue as leader and thread this narrow needle and try to get this through without a referendum >> you know, one has sympathy with the scale of the task in front of her it was never going to be easy. the math doesn't seem to be on her side she put forward a proposal through trying to do what's right that has already been torpedoed by the hard brexiters last night having been torpedoed it looks impossible that any semblance of that checkers deal will get through the house if that's the case the easiest thick for her and her government is to say let the people decide going forward. ultimately we know we had all these new facts that have come to light and it would only be fair there's a vast majority of people who want to have the say
on the final deal. this is different than having a rerun of two years ago this is because we now know things we didn't know two years ago. that's why people want to have their say rather than just leave it to mps. >> you have a strong political view on this issue you're also chairman of a significantly sized business for business people watching this interview, what do you say about the probability of a new-deal scenario by march 2019? >> if you just look at the government's own figures and modeling, this was not just the treasury, this was the whole government which looked at it. they came to the conclusion that it would be catastrophic and we would have huge queues at the ports. our ability to trade in a frictionless way would be for the birds. the government thinks it would be close to disaster it is only ideal hawks that don't understand economics that
like this. you have conservative ministers who are not pro business you have people who say you're more likely to be wrong. that's an extraordinary admission for a conservative cabinet member to have you would never hear it under margaret thatcher. >> talked about the government position, we heard from mark carney he said in the event of in deal brexit scenario, there would be big economic consequences. he says he is concerned that the european union has not indicated its solution to post-brexit continuity when it comes to derivative contracts in the city of london. he's supposedly neutral in all of this. do you think voters in this country have taken that fact on board? >> i think they have in the sense that they're now hearing things they never heard before it's not about threats about what could happen to our economy, it's about things that
are happening now. we were told we would get 350 million a week back. we're doing a 40 billion exit bill we were told we would have complete autonomy over our rules. under the checkers deal we are regulatory aligned to the european union we have to accept their rules and regulations with no say. we will not be part of the single market in services, which is 80% of our economy. the bit you were talking about with the bank of england, the city will be outside people don't want that in light of that it's not surprising that you had trade unions, mps on both sides of the house and independent bodies say the simplest way out of this logjam is to allow people to have the final say on whatever deal is cobbled together >> one final question for you, before you go. you were key in that campaign to stop this happening.
you talked this morning about things that we know now that we didn't know then in terms of british voters on the referendum what's your biggest regret about that campaign? is it not being able to convince people of howe bad this would be as you're saying it will be? >> no the biggest regret is the fact we allowed number 10 at the time to have too much say. there is a vision of the future that is positive for britain at the heart of the brexit vote is a sense of alienation from large parts of british communities which we ignored for far too long that's what not about being part of the european union. that's a failure of british politics that needs to be put right now. >> thank you very much the u.s. has filed five wti
actions against china the eu, canada, mexico and turkey over their challenge to u.s. aluminum tariffs. trading partners were urged to work constructively with the u.s. the imf warned a full-scale trade war could cost the world economy 4$430 billion, a 0.5% reduction in annual global gdp by 2020. the fund saying though the trade conflict would hurt everyone, washington was particularly vulnerable singapore reported a big slowdown in exports. non-oil domestic exports rose 1.1% in june, versus 15.5% growth the month before, and against the 7.6% rise as expected by reuters. while the wto attracted
president trump's ire recently, the australian trade minister this morning acknowledged the organization needed some work. >> i don't believe the wto is broken there is opportunity for reform. australia is working constructively with other nations to look at what reform might look like. make no mistake, australia supports and backs the wto we're not prepared to slight back into a world where might is right. we need bodies to enforce global standards. we're opening up new market opportunities for exporters all the time i also have a particular focus on non-tariff measures we set up a new group which will look at ways to reduce the nontariff barriers we want to make sure it's not just tariffs impeding trade flows, we want to reduce those and non-tariff barriers as well. the u.s. said it will consider certain waivers for countries that need additional
time to end oil imports from iran that's according to steven mnuchin who says the u.s. wants to be careful in the wind down to ensure there was no disruption to the oil markets. washington already rejected a waiver request by the french government, this as president trump aims to push countries to cut all oil imports from iran. looking at brent crude, trading stronger up 0.5%. wti slightly lower brent is driven by events in norway where oil workers have been on strike coming up, te shg, telenor s are lower. we will hear from the cfo next why did i want a crest 3d white smile?
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telia said they would strengthen their position in north way. and telenor is under pressure after that deal was announced. the company confirmed their financial outlook and reaffirmed operational efficiency targets telenor has spending savings close to 1 billion krona this year we are joined by jorgen rostrup, the cfo of telenor your colleague talked in the recent quarterly report about a robust performance in norway's mobile market. how much of a threat to that performance and the future are you expecting after this acquisition of tdc by your rival telia? >> thanks for having telenor on your program they have been a competitor to us for a long time with the different owners. now it appears they will get a new owner.
that's fine with us. it's consolidation in norway we have a strong fixed position in norway, and have a large and increasing position, fiber position in norway that's where we are focusing developing our position organically. this is not unexpected this is not for us a big news thing, and we continue with our program. >> you welcome the competition essentially? >> yeah. there's been competition the whole time so we don't actually see very much changing. we continue to build out fiber, strec strengthen mobile networks and have businesses in norway. >> last month you were fined nearly 100 million u.s. dollars
by the competition watchdog by abusing your dominant market position in norway to prevent third investment in a mobile network there. the company disagreed with the decision and were expected to appeal it. when can we expect that appeal >> we will appeal it we have six months so i -- so until christmas to do that we will appeal it. we are now looking into the rulings, and we will take -- give our response on that. >> you have gone looking for growth in countries like myanmar, bangladesh, pakistan. this past quarter you have seen revenues and ebitda in those areas fall compared to the past year why is that happening? >> well, we don't see it falling. wesee the growth at the level
that we saw last year not being maintained in particular, if you talk about bangladesh and pakistan, we see positive growth numbers. but we have seen a slower growth in first quarter and halfway into second quarter both in bangladesh and pakistan and for specific reasons we see the end of the quarter, second quarter growth picking up in bangladesh and pakistan and that continuing to the third quarter. so it's a combination of some market specifics we are also building out the 4g network in bangladesh. it's an effect of having high growth numbers in the same market in the first half of last year so the comparables are tough this is the quarter where we see market production robust and we're pleased with that this quarter. >> jorgen rostrup, thank you for
joining us. ronald do has his sites on winning a sixth ballon dor he added players his age are usually winding down adam johns joins us now >> you don't have people doubting his success cristiano ronaldo always backed himself in every situation juventus called the day -- the #trending was myth, they called it cr7 day because of his own personal day spare a thought for cuadrado who had to give up his number
7shirt he will take the number 49 shirt. >> 7 times 7 equals had the. and cuadrado in spanish means squared. there you go but cristiano ronaldo is a juventus player. they're doing it because they want to increase their brand there are footballing reasons. ronaldo has ten times more followers on instagram than juventus as a club they rebranded themselves in the past couple of years they have a series on netflix and now they see cristiano ronaldo as the final piece of the puzzle we can hear how much cristiano ronaldo fancies himself to win more titles at juventus, even at the age of 33. >> juve is ready i will be ready. i will be there. as i said before, the age is not important. i feel good. i feel motivated exciting so, i will try to do my best
like always. i'm looking forward to starting the league well and trying to win every title. >> so one big player left real madrid, and that leaves a giant hole, 450 goals he scored in nine years there could we see a chain reaction of transfers around the summer going towards real madrid? neymar, mbappe, hazard all names touted going to real madrid. >> watching that transfer window which remains open for a few more weeks that's it for today's show i'm willem marx in london. "worldwide exchange" is up next.
i'm seema mody, it's 5:00 a.m. here is your five at 5:00. netflix shares getting slammed after the company's subscriber growth disappoints prime day problems amazon suffering glitches at the start of its major sale day. microsoft and walmart announcing a new partnership on cloud technology more on that president trump returning from his overseas trip and now facing criticism for his comments about russian election meddling and going, going, and gone national solutioner pri eer