Warning from russian president Vladimir Putin to north korea as he uses his speech at the become r ishgbric summit good morning we have a lot to get through lets kick things off with a look at the markets. The stoxx 600 is up by 0. 3 , recovering from yesterdays small losses to the tune of 0. 5 yesterday we were under the spell of the latest aggression coming out of north korea, but it seems like were moving on today. When it comes to the insdices on by one, when it comes to the ftse, dax and cac, theyre all in the green the xetra dax is eking out a gain of respectable 0. 6 merck is one of the top performers there the ftse 100 up by 0. 3 . We have that big m a deal this morning which is pushing the mid cap index higher aveva jumping nicely there, up by more than 20 schneider doing well on the french market. When it comes to the sectors, this is the picture autos, foods, beverages, basic resources among the best f performers quick look at the latest data out of the eurozone eurozone august final services pmi came in at 54. 7 versus a july print of 54. 9 a quick look at how the euro dollar is reacting. We are seeing a small decline of 0. 1 in terms of the euro dollar. 1. 1877 all eyes on the ecb meeting on thursday. All right. Lets get back to the big m a story. Shares in aveva are spiking on the news it has agreed on a merger with the Software Business of Frances Schneider electric this marks the biggest british tech deal of the year so far with the deal valued at 3 billion pounds this is the third attempt by the two companies to combine avevas ceo says there is more confidence the deal will succeed. The group will remain listed in london lets get some instant analysis with Richard Champion, deputy cio at canicord Wealth Management is deal making when it comes out of the position of weakness, is that a good sign to me it seems like these Companies Need to tie up to drive revenues further, or is this a tie up resulting from a position of strength theres two sides to it first off, theyve been talking for nearly two years aveva is 20 cheaper in euros than two years ago theres significance in that schneider is looking to build up more growth areas of its conglomerate structure and the Software Business is one its identified as suiting that the other driver is that in the internet of things, more widely its a mega friend which many have identified. Schneider wants to be at the forefront of that sochltthat for aveva, its got materials base, clients base and they need to diversify there are ones for both sides. This is a reverse takeover and it remains clear there will be a london listing for aveva, which is good news for the british morale Overall Software companies have been taken, like arm taken over by softbank is it significant for this to be a reverse takeover and for aveva to be listed i think its political astute they will not go over 75 of the aveva group before 2021. Longer term we might see that minority squeezed out. Its astute because we have lost a lot of names in the uk to overseas takeovers with the last two attempts to take over the companies there were integration concerns. I was wondering what could go wrong this time, do you think that third time lucky this will go through they worked through all the challenges otherwise we wouldnt be at this point. I tend to agree with that they have had two goes before, two years to think about it. Its a slow consummation, and the last time they highlighted the integration challenges this time im sure they got a pretty well worked out plan. Its not as if theyre opening the books for the first time lets take a step back from this major mega deal how do we feel about the world, the investment world as a whole . September ramps up or sees a ramp up in trading activity. We see the ecb meeting a potential Government Shutdown later this month Hurricane Harvey to contend with how do you feel about risky assets in general, risky assets are a good place to be for us. Earnings are coming through. Were seeing strong recoveries for europe, good Economic Growth in the states. China continues to grow and japan showing good progress. Overall, we are seeing good growth worldwide thats translating into earnings we need those earnings because evaluations are quite high were getting them at the moment thats a lot of nervousness around the potential Government Shutdown i saw a note from Goldman Sachs saying harvey might have a Silver Lining in the sense that it would decrease the chance of a Government Shutdown from 50 to 20 or 30 . Youre thinking along the same lines. You dont think this is a big market event we should worry about much not as a market event it has potential benefits it has the potential to unlock the logjam in congress potentially we see the trump nux boost coming in a different way. Theres been large numbers up to 1 180 billion in terms of reconstruction effort. Thats a large infrastructure boost. It complicates the feds job, because on the one hand you have a shortterm hit to economic activity, on the other, if youre getting that boost with a very low unemployment rate, the fed could be pushed sooner its nuanced to the moment but not bad news, particularly on the political side we may see an easier september and october than some had predicted. We cant ignore north korea and were seeing continued sabre rattling that happens every week it seems. Seeing this flight into safe havens, happened again yesterday, to some extent this morning. How much attention do you pay to that how much do you change your Portfolio Allocation i cant change our Portfolio Allocations based on whats going on in north korea. We have to invest as if that situation will be resolved in a peaceful way we are look at the potential implications, particularly if President Trump follows through on some of his threats to add sanctions to all economies dealing with north korea, because then we could be into a more trade war scenario. That would have some follow through and we would have to reassess our structure at that stage. Richard, thank you very much for that appreciate your time Richard Champion shares of merck are trading higher after they announced they preparing Strategic Options for its Consumer Health business merck said potential options could include a full or partial sale or strategic partnership. I want to bring you the latest commentary coming from the german chancellor, Angela Merkel shes been speaking in berlin. Shes been once again talking about some of the Biggest Campaign issues like the Auto Industry she says germany has a collective social responsibility to admit and fix mistakes that were made in the Auto Industry says the coalition does not want to ban diesel cars, but they want to work with the industry to facilitate a move to new auto technologies she also once again talks about turkey that was a big issue during the debate between her and her challenger, mr. Shultz over the weekend. She says europe needs to avoid divisions on future ties with turkey lets move on. A bitcoin has fallen for a second day leaving the cryptocurrency facing the worst twoday period in a month. Mounting fears over the currencys future in china fell after regulators bent offerings. To find out more about the chinese regulators ban on the coin, you can check out that story on cnbc. Com. We will go for a quick break coming up, toyotas chairman is skeptical of a rapid shift to Pure Electric vehicles well bring that you exclusive interview after this short break. Welcome back to the show to recap what Angela Merkel has been saying in berlin, she addressed the issue of north korea, saying that we urgently need more sanctions on north korea. This is as the russian president Vladimir Putin says sanctions wont stop north korea from developing Nuclear Weapons speaking at the brics summit, he advocated for dialogue on the issue. He told pyongyang remember what happened to Saddam Hussein south koreas foreign minister says kind that is open to further sanctions against the country. In International Pressure and the threat of more sanctions has so far failed to restrain Nuclear Weapons testing by kim jonguns regime south korea is aiming to bulk up its arsenal in response to further provocations from pyongyang. The u. S. Ambassador to the united nations, nikki haley, had some strong words for the rogue state. Kim jonguns action cannot be seen as defensive he wants to be acknowledged as a Nuclear Power, but being a Nuclear Power is not about using those weapons to threaten others Nuclear Powers understand their responsibilities kim jongun shows no such understanding. His abusive use of missiles and Nuclear Threats show he is begging for war. Lets get back out to chery kang joining us live from seoul once again that was an interesting report coming out of the south Korean Foreign ministry talking about potential Oil Sanctions coming from china directed at north korea. Just how likely would that be . Exactly thats coming out of south Korean Foreign ministers briefing to the National Assembly that happened earlier in the day rare mention of a specific country and a specific measure when it comes to the south Korean Foreign minister. Shes relatively new at her job. She said that oil embargo on north korea is actually one of the most important elements that is being discussed as part of this potential sanctions package on north korea she did add, though, it needs to be watched further whether it actually makes it to the next round of sanctions on north korea. But a rare mention certainly, and also this is the critical squeeze potentially for the north korean regime. China exports 90 of north koreas oil needs. So many observers say that is the last piece thats left to be sanctioned when it comes to the north korean regime. Let me just pull out some note for you from the group that said china could be moving for at least a temporary reduction of its oil exports to north korea to put pressure on the regime. But not deal a fatal blow to all this let me tell you another derivative thats developing out of this latest round of north korea tension, the crack thats becoming more visible between seoul and washington this morning south koreas president ial office disputed the White House Press release that talked about the trump President Trumps conceptual approval for south korea and its billions of dollars arms deal with the country and said that its understanding that the United States was just expressing its support for south koreas National Defense, and one unnamed president ial office here in south korea said there was no such mention of an arms deal between the countries at this point so, a little bit of a going back and forth on the part of south korea as well as the u. S. Administration in terms of their dealing with this latest nuclear test by north korea. But one thing that we need to be watching for for the rest of this week, this saturday is north koreas Foundation Day and south koreas National Defense ministry as well as its Intelligence Agency says that they are detecting signs of north korea putting together for another launch of an intercontinental ballistic missile. Thank you very much for that update well watch what happens over the weekend if anything does during founders day on september 9th. Lets stay in the region chinese president no we wont do that story. Well talk about toyota. Toyota sales in china grew 13. 2 in august, up from an 11. 4 rise in july. The japanese automaker said it is on track to sell more than 1. 2 million vehicles this year china, the Worlds Largest auto market and a key region driving toyo toyotas electric vehicle push the automakers push towards complete electrification was talked about translator while i felt change would be forthcoming, the pace of change far exceeded or imaginations we were aware that if the hybrid technology were to be widely accepted, convenience for the user, the consumer experience, would have to be a key consideration. The hybrid did not alter the driver experience, it actually enhanced it by reducing the amount of trips to the gas station because it was more fuel efficient. As we continued our work on the hybrid, we realized electrification is inevitable and the vehicle needed to be equipped with a system to supply power to the motor whatever shape electrification was set to take, our hybrid was equipped with the Necessary Technology the battery, motor, software and semiconductors to accommodate the future lets talk about the changes weve seen in the industry in recent years weve seen a big focus on electric vehicles tesla, of course, which toyota until recently had a stake in, has been the most aggressive in pushing for that we also heard from Legacy Companies like volvo who announced they plan to go 100 electric over the next five years. You famously said several years ago that you dont believe that theres a market that will accept a Pure Electric vehicle do you still believe that . Translator thats a question i get asked a lot. I must say up front were not against electric vehicles. In order for electric vehicles to cover long distances they need to be loaded with a lot o batteries that take a considerable amount of time to charge theres also the issue of battery life were moving forward in Development Efforts with this in mind new laws and regulations are actively Encouraging Development of electric vehicles with little regard for customer convenience. But as those laws and regulations come into effect in places like china and the u. S. , carmakers will have no choice but to roll out electric vehicles or risk going out of business toyota is no exception but were September Cal thereke be a shift to Pure Electric vehicles you talk about chamgs wi chas with the batteries on the market is a solid state battery the key to making an electric vehicle mass market . Translator yes, this is an issue not limited to electric vehicles the battery will be the Key Technology moving forward. In order for vehicles to be powered solely by batteries, we still need two or three more technological breakthroughs. Toyota is taking on that challenge and working to each chief goals in battery development. Whats the timeline for toyota to bring a Pure Electric vehicle, using solid state battery to the market . We heard reports of 2022 whats the timeline youre looking at thats something we honestly dont know people around the world are working to develop new batteries and we are seeing progress in bringing affordable batteries to the market once the technological challenges are resolved, we expect the option to pick up rapidly. Lets talk about what the future of cars looks like. Noninvestigation p innovation propelled toyota, you already mentioned tesla, but theres also alphabet, and baydu over in china which are pushing for selfdriving cars. How do you think toyota stacks up against that . As you point out, the automobile will depart from the format were familiar with now new technology will be mounted on to the vehicle enabling features we have never seen before that includes autonomous driving or connecting cars to the cloud in order to process big data those technologies will dramatically transform the vehicle. Players involved wont be restricted to traditional auto makers carmakers wont be able to do it alon wit alone without partnering with startups Car Companies will need to work with those players otherwise they wont survive all right quick look at the european markets. Were back in the green after a selloff yesterday. That was pretty much down to the north korean aggression. The ftse 100 is up by 0. 3 a lot of m a arc shun. Were seeing that tie up between schneider and aveva, thats benefiting the mid cap more where aveva is listed. Merck is selling some of its Consumer Health business the cac 40, the schneider story comes into focus there the market up by 0. 3 . As far as the currency market is concerned. Were still waiting for the ecb, thats happening on thursday thats the event to look out for. 1. 1875 is the handle trading at not a huge dent when it comes to the euro dollar. When it comes the uk, were waiting for services pmi well bring that for you on street signs. Manufacturing was better than expected yesterday, well see where that services pmi number comes in thats coming up in a few minutes. One of Angela Merkels closest allieies is talking well hear from the german cdu deputy chairman. And well have an interview with Jean Pascal Tricoire at 15 35 cet. S are, the last time you got a home loan, you got robbed. I know i got a loan 20 years ago, and i got robbed. Thats why i started lendingtree the only place you can compare up to 5 real offers side by side, for free. Its like shopping for hotels online, but our average customer can save twenty thousand dollars. At lendingtree, you know youre getting the best deal. So take the power back and come to lendingtree. Com, because at lendingtree when banks compete, you win. Welcome back to street signs. Im carolin roth, these are your headlines. Third time lucky for aveva and schneider as they agree to a tie up with the French Software giant. Remember what happened to Saddam Hussein words of warning from russian president Vladimir Putin to north korea as he uses his speech at the brics summit to say tougher sanctions on pyongyang wont stop its nuclear development. Toyotas chairman says the shift to Battery Powered vehicles is a couple break throughs aw throughs away. Translator the bait rybatte be the way forward, however we still need two or three more technological breakthroughs. As i was flagging up before the break, we are now getting the uk services pmi for august, 53. 2 versus a poll of 53. 5 thats a decline from 53. 8 for july were looking at the weakest number since september 2016. So the weakest number in a year. The uk economy losing some momentum as the brexit worries weigh. So once again the uk pmi suggesting that we will be seeing a growth of 0. 3 with momentum being lost. Thats according to the ihs. The composite pmi for august is the lowest since february at 53. 8 were seeing a bit of weakness in sterling dollar, not a huge exte extent, but we are ticking down from earlier levels. We 129. 10 off by 0. 2 on the day. Now, the u. S. Was out yesterday. Everyone celebrating labor day the end of summer. Lets look at how u. S. Futures are shaping up at this early hour looking a bit negative this may still be the north korea impact the u. S. Markets did not have a chance to react to the latest ae gregs co aggression out of north korea on sunday the s p is off by 5 points, and the nasdaq off by 77 points or so the european markets recovering gains for the xetra dax at 0. 8 . The cac 40 benefiting for that m a announcement between schneider and avevaveva, up by. When it comes to the fx markets, a bit of weakness when it comes to cable euro dollar is at 1. 1881 down by 0. 1 were waiting for that ecb meeting and still seeing that safe ha those safe havens are having a good day the japanese yen up by 0. 2 against the greenback and the swiss doing well against the u. S. Dollar as well. Lang merkameri angela merke more sanctions on north korea after the latest round of nuclear tests. She warned europe to avoid divisions with turkey. Annette has been listening to that speech. She drives home the message of hey, we have to be tough on turkey that debate on sunday, doesnt she . Thats completely the case. Shes the chancellor of germany, she cannot end relations all of a sudden with turkey she says she will discuss that with european counterparts at a summit in october, whether they will all end the turkey accession talks that would isolate turkey a lot more and, well, put them into a very special place. Of course the reaction already loud from turkey as well so, this is a special, i would say, special topic for her government, also now in that Election Campaign process. But another area shes talking about as well, or she was talking about as well in parliament is that germany has to be modern country, and that shes seeing germany being at a threshold to a new development stage. And shes also saying that we shouldnt end up in the Technology Museum when it comes to digitalizations that should be the big focus of the next four years. And that were in good position in germany but theres the risk of falling behind. Shes not trying to be complacent about what shes trying to achieve and germany is doing well and germany is urging everyone to realize that germany has to also enact reforms in order to keep what it has yesterday i spoke to the deputy chairman of the ecbu Parliamentary Group about the prospects thoofof that election after that debate on sunday, people were saying its a given for Angela Merkel for another four terms its not an easy game we have to be careful polls are polls. We had wonderful polls for Angela Merkel yesterday in the debate or after the debate but the polls are nothing. Voting is the important thing. This will happen on the 24th of september. A wait and see, but im confident well make it again. Its quite astonishing so many people are still undecided who to vote for. Is that because theyre kind of bored of topolitics is it general politic fatigue . Why is that . I think its always like this all polls are just giving us a number of people undecided but this doesnt mean they dont vote maybe they dont know if they vote for liberals or socialists and creans and think this is not somebody also finally decided. But i think mainly the people are going to vote and we will have an outcome like 70 of the german population will vote. Let us look at the potential coalition. Come are saying it will be a grand coalition. It will be again more of the same so whats your favorite coalition . Very simple i would Like Coalition with the liberals which is going to be possible if the polls are right at the moment. Well wait and see at the end of the day i would like another coalition, but not a grand coalition, because we have two times twice the grand coalition. I think its enough. Would it change something for business if we had if we were to become a coalition with the liberals in germany . Would it be more business friendly i think so, yes socialists are socialists. Liberals are liberals. Liberals have a different attitude towards business. We could come closer to the Business People with the liberals at our side hopefully well have Something Like this. Many commentators were saying after the debate on sunday that it was just another display of another grand coalition. But people dont want it anymore. What a grand coalition entails is less reforms because of less sort of likelihood that they can agree on something i think theres a general consensus there should be more reforms towards more of a competitive germany. And that is what the people from the business camp, of course, see more likely, with a cdu fdp liberal coalition this will happen, of course thats up in the air. In looking at the polls, they could have little majority if thats going to happen on the 24th of september we dont know yet. We will watch it carefully back to you. We are waiting with bated breath thank you very much for that the number of european banks considered to be in danger increased sharply last year. According to a report by bane, 31 lenders were in the weakest category in 2016 compared to 23 the year before. This despite efforts by lenders to strengthen Balance Sheets and sure up profits. Banks in Southern Europe fared the worst. Speaking at the forum over the weekend, the ceo of unicredit told cnbc there is no Systemic Risk for italian banks. What is happening in the first half of the year is very important for the italian Banking Sector thanks to the government action, and i think the government did the right thing in terms of rescuing on one side what is left to do is minor. And theres no more Systemic Risk you can see that in the share price of italian banks the veneto banks were going by italian banking rules if they were not that important, why were they rescued . Theres too many banks in italy still, isnt there they were originally important. Thats extremely important the government did the right thing with the bank as well as with mont with monte pasci to make sure we have a strong banking market, which is properly covered is absolutely key for the future growth of the economy. We also spoke with the ceo and asked what renzis defeat means for italian businesses it leaves us waiting for these reforms to pak platake ply way. That is something that is needed to continue the restructuring of the italian system well have to wait for the elections to take place in the spring of 2018 and see how italy will be able to continue to reform these reforms are needed in particular the reform on the senate, because this is an enabler for additional reform activity so it will be very important to see what the results of the election will be how important are the results of the election for your future . Your term is up as well, as i understand i think my future is not material but its really important to some extent. The italian system has a resilience thats been demonstrated in this past year the reforms that previously the governments had implemented ensure some initial movement that is okay for us. I think overall its important for the european system that italy continues to reform. We dont depend too much on that as far as the company is concerned. If europe prospers, we will benefit. President trump is reportedly set to cancel americas Dreamer Program which protects some immigrants who came to the u. S. Illegally as children. The controversial move could be announced as late as today new york and Washington State threatened legal action if trump goes ahead with that plan. Lets get out to tracie potts who joins us lirl from washington theres been a big, big push back from the business community, especially Silicon Valley too right and you mentioned the two states that dont want the president to get rid of this. Nine other states say if he doesnt take action to get rid of it, they are ready to sue originally there were ten. Tennessee dropped out. So theres pressure on both sides. Theres been mixed messages from the president on this. Certainly he is influenced by those conservatives who want to see protection for people brought here illegally as children they want to see it go away. However the president has also said that this is a tough issue for him, that dreamers have nothing to worry about certainly if the protection goes away, they will have something to worry about we learned overnight that the decision will be announced or will be discussed later this morning in a matter of hours, not from the white house, but by the Justice Department attorney general Jeff Sessions is set to hold a News Conference on this issue coming up. Theres pressure coming from both sides, supporters, opponents, and even republicans here on capitol hill are split over this. Some more conservative republicans say we should not be protect mg ing many of these pee who are now adults who were brought here but speaker paul ryan, a prominent republican here, argues we should not be getting rid of this protection for people who in many cases are helping the economy. Because theyre working as adults here now. Its an issue up in the air and one more thing that congress may have to deal with. Sources tell us if they decide to get rid of it, it would come with a sixmonth delay which buys some time for congress to come up with a fix that both sides can agree on certainly a fiery issue there for President Trump. Thank you very much for that tracie potts joining us from nbc news out of washington. Drenresidents for the u. S. H and caribbean are bracing for heavy winds and rainfall after a hurricane headed towards the region was upgraded to a category 4 Storm Hurricane irma could have winds of up to 145 Miles Per Hour and cause catastrophic damage. Hurricane advisories have been listed for several territories in the west indies u. S. Oil prices moved higher as several refineries in the gulf of mexico began to resume operations following Hurricane Harvey gasoline spices have come back down after fears of a crunch speaking on the sidelines of the forum, Russias DeputyPrime Minister played down the impact of the low oil price on the russian economy. Without russia, there would not be an agreement whatsoever prices would be below 40 now without russian participation in opec agreement thats number one. Number two, we are okay with the short to medium level prices of about 50 dollars per barrel. 60 is better, 100 is not good. It places huge stress on the global market. Prices between 50 and 60 are okay for russia. We will, in coordination with other countries, we will create predictable market environment and will hopefully stabilize markets around those levels. Some people talk about the rolling of the deal forward to the end of the first quarter, 2018, as timing which coincided with the culmination of the russian president ial election as well do you think the two are related . No. No no its not about its not its not in relation to polit politics, russian politics at least. Oil markets are affect bayed combination of different factors, in particular africa and middle east and prices are affected by the policies conducted by specific countries. But russia, which is a stable big player in the market, we want to be predictable and we want other countries to be as predictable as russia sdmroochlt some of us played with these little bricks as kids, but is everything still awesome at lego group . We will bring you the numbers ahead of our interview with the lego chairman which is coming up after this short break also coming up on cnbc, an exclusive interview with the ceo of schneider 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. The secret is an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. The name to remember. Tha. Oh, burnton gravy . Ie. Gotta rinse that. Nope. No way. Nada. Really . Dish issues . Throw it all in. New cascade platinum powers through. Even burnton gravy. Nice. Cascade. United technologies struck a 30 billion deal to buy Rockwell Collins. United technologies is already one of the biggest suppliers to boeing and airbus and the deal is set to bolster its power with planemakers. The birds are finally flying the nest Rovio Entertainment announced i intention to go public listing shares in helsinki its most famous for its angry birds brand and total rovio games have been downloaded more than 4 billion times with more than 80 million active users im definitely not one of them the lego group will cut 1400 jobs in an attempt to simplify its Business Model the privately held Danish Company employs 18,200 people. The news comes as the lego group posts a 5 decline in revenue for the first half of 2017 thats the first sales drop in 13 years lets see how jorgen vig knudstorp, the chairman of the board of lego feels about this in your press release you called this a disappointing performance. What do you think is behind this thank you very much i mean, i think what weve found through our investigation of this is that, you know, you so often trend towards saying this is the change in the retail media landscape or some other change, but what we found is the way we do business, the way we do marketing, the way we do our inmarket management but how we run the whole administration or the company has become too complicated as we have grown the company massively over the past 12, 13 years thats whats really hindering us in executing a strong way, as we used to and therefore were finding it harder to grow in some of our well penetrated and established markets. I guess thats why youre trying to cut down on some bureaucracy. Youre cutting 8 of your staff. I feel like thats unprecedented for a company thats been spoiled with success over the last 20 years. How much further will that go . Do you think this is the end of the costcutting drive yes as a privately held business owned by one family through generations, we have the freedom and enjoyment to focus on how do we run our business better were focused on making a smaller and more Simple Organization and do cleanup of the inventory position in some markets. Ultimately for us thats been the aim. We will conclude all of that within the year. This year and in future years we will be focused on cost base and focus on optimization as we have done through the past 15 years this is one of the big moves that really relates to do we overrate in a simple rate or a simple way as we should. We are announcing the total of the year for addressing that problem. This coincides with the fact that you have a new ceo on board. He is an outsider to the firm. I know that in the past you always said, you reiterated that the former ceo mr. Padda has not been let go because of weak performance. Knew doesnt seem to gel so much with investors now it seems to be about the performance. I cant believe that it was simply because you found a better ceo quicker than you expected can you clear this up . Yes definitely so, our investors are a Single Family they are wellbriefed on the situation. Theres no confusion with the investor base. Let me explain that bali padda came in in the past eight months and under his leadership we made these drastic decisions. Im announcing it today because i was the ceo the prior 13 years, the fact we have these problems is really my responsibility i feel 100 accountable for that having created the problems. Bali has done a tremendous job of addressing that he completed that task. We started a search for a new ceo. We knew bali wasnt here for the longterm. We were happy that we found somebody who could take a longerterm view on the business and who was appropriate for the challenges the business is facing now as it continues to seek growth and Niels Christensen is a tenured and experienced ceo with an impeccable track record for running global businesses. We think hell be a great fit and do well here we are satisfied with balis contribution the person to blame for the poor outcomes is unfortunately me i take full accountability for that today. Talk us through the regions. I know china is a growth market. The u. S. Has been lagging in 2016 how is it looking there and in western europe as well if we start with the established markets, i can say we did decline and lose market share in the u. S. This first half of this year and we have also seen that in some parts of europe we have struggled to grow. We remain in a leading position in those established markets which are also highly penetrated markets. So they continue to be important. We perform at a high level but were not growing. Then we have other parts of europe or the immediate region where we are seeing nice growth and certainly in a market like china where theres a possible underlying growth but a huge potential for us to increase our share we see strong growth thank you very much for that. Jorgen vig knudstorp, chairman of the board at lego coming up on cnbc, an inteiervw with the ceo of schneider. A developing story Nikki Haley Says north korea is begging for war as tensions escalate were live in the region with the latest. Washington watch a battle is brewing in congress as President Trump is expected to end a program protecting some immigrants who came to the United States illegally as children plus a 23 billion deal to start your trading week. United technologies buying Rockwell Collins creating an aerospace giant. Its tuesday, september 5, 2017. Worldwide exchange begins right now