Gas turbine unit hurt the Fourth Quarter profits. The co tells cnbc hes positive on the outlook its a complicated environment. We have been outperforming competition. As i said, i look at my business, i look at our customers, we also are mindful about our competitors. I think we are on a good track and adidas shares fall despite the company posting a Third Quarter beat with growth in china and the u. S Kasper Rorsted says the company will push ahead for its plans for american expansion theres no doubt within the u. S. Marketplace that is hardly growing and were growing more than 30 shows we are gaining traction for the last three years in the u. S good morning its thursday, and it is an incredibly busy thursday plenty of news coming out of the german corporates. Much of that was disappointing, if i look at the likes of siemens, adidas. Lets show you the heat map and show you how were faring. The stoxx 600 is off by 0. 1 after we fell by 0. 1 in yesterdays trading session. So the moves were seeing on the stoxx 600 are not huge, but were seeing much, much greater moves coming from the individual corporates want to show you the european markets one by one were seeing the xetra dax holding on to the flat line. The ftse 100 is off by 0. 1 . Ftse mib is outperforming up by a quarter of a percent as the banks are recovering as some doubts and worries again yesterday about the mpls in that sector speaking of sectors, lets look at what were doing in terms of the sector bases in europe basic resources underperforming, off by 1. 3 . Retail lower to the tune of 0. 9 household goods, which includes names like burberry, that sector is off by 0. 6 banks doing better, up by a half of a percent lets get back to our top story. Shares in burberry are trading nearly 10 lower, 10. 3 to be precise, hof vering near the bottom of the stoxx 600 amid concerns about the turnaround plan after Marco Gobbetti warned sales and margins would not grow until 2021 burberry announced a shift in strategy to make the brand more highend which means focusing on Leather Goods and decreasing sales to nonluxury stores. The outlook overshadowed a rise in profit and revenues shares in yoox is sinking. Full Revenue Growth will be at the lower end of previous stated guidance but it was said to be a small bump the road. The transfer of goods between warehouses was lower than expected and the Product Availability cost the company a 20 million euro loss lets talk about burberry with luca solca from pnb paribas. What do you like, what do you not like more specifically about burberrys Strategy Change i think Marco Gobbetti has already made some clever moves, moving back to a license to beauty is a rite move. Burberry never had the Critical Mass to be utstanding on this point. Opening a chapter with creativity was also appropriate. After 17 years, they were right to move forward. Clearly brand elevation doesnt come for free. It requires giving up on a significant volume, which is now currently happening. As a consequence, the shortterm pain was to be reckoned with there were loss of expectations on burberry and the market was driving up the shares, and i think were going back to reality this morning well hear all about the details of this strategy very shortly. So maybe a bit of profit taking in there, too maybe not too much disappointment i guess some of that disappointment thats reflected in the share price is coming from the fact that were not expecting growth until fiscal 2021 that requires a lot of patience from shareholders at this point. You still think, just to clarify this, that the strategy in itself is not a bad one, its just the fact that its a long time until we see it paying off. I think so. Indeed this requires a lot of patience this is not necessarily reflected in what the share prices have done recently. But we look at 10, 15 years of progressive brand elevation at burberry i would say this move consolidates what the previous strategy abroad, which was confirming burberry as a mega brand within the broader luxury space, it moves it it moves it further ahead but it will, indeed, require sacrifices so on one hand you get cost efficiencies, you get the tailwinds from a slightly better organic growth as seen today in the first half on the other you need to give up the lower quality distribution, and that carries pain. Luca, i have so many questions for you, but were running out of time. The final one on the u. S thats the companys biggest market 22 of the revenues. Thats where the sales have continued to decline will this Growth Strategy and this turnaround, will that address the u. S. Markets specifically and well enough hopefully so. Its quite clear burberrys weakest in the United States dependence on Department Stores hasnt helped. Department stores are going through a crisis this is clearly the right time to take a fresh look on how you drib distribute burberry. All right yoox also falling today. The guidance is cautious do you think its the time to buy into those shares now on the back of this i would not think so. As a house we have a negative view on yoox we see a number of players are moving into digital and the luxury brand so theres going to be very High Pressure and strong competition in this sector yoox has the advantage and has been quite good on building Critical Mass. We are seeing more clouds on the horizon. So structurally we are cautious on yoox netaporter burberry, whats your view on the shares do you buy on the weakness or wait further due to the amount of time that its going to take to get the new strategy in place, it seems to be that there should be an upgrading on the shares, but were a neutral and stand by that luca solca, thank you lets talk about some other earnings this morning. More earnings disappointments. Inve vestas shares have fallen despite Third Quarter earnings that missed estimates on the top and bottom line. The Company Contributed the decline to tough Market Conditions and warned a proposed cut to wind industry tax credits in the u. S. Would hurt its earnings in future quarters. Shares in adidas are trading lower despite the sports wearmaker posting a 12 rise in Fourth Quarter shares. The german firm notched up strong sales growth in china and america. The ceo, Kasper Rorsted, told cnbc that the company will continue to prioritize the u. S. Expansion. Its clear we need to be stronger in the typical American Sports we come with our roots in running and football but theres no doubt with the investments weve made over the last couple of years, whether its professional franchises like the Hockey League or large schools, we are making inroads in the schools, and our brand is more resonating with a younger consumer if you go to the streets of new york or l. A. , you will see the young kid but also the average person wearing our sneakers, which was not the case three, four years ago. Siemens is trading lower after weakness in the turbine business weighed on Fourth Quarter numbers. Industrial profit dropped 10 falling well short of expectations earnings at the power and gas unit plunged overshadowing a better than expected net profit number speaking to cnbc earlier, the ceo, joe kaeser reaffirmed his outlook for the company. 90 of the company is outperforming the market we will take care of the power business in a responsible but obviously in a consequent way. I would expect 2018 to be a good year for siemens like for like we expect material growth per share, so that means if there was a continued weakness on the part of the business, the power of all the other divisions will be as strong as you can potentially imagine to overcome that weakness in power. So we do expect like for like an increase net earnings per share could be up to double digits, which is a significant target. Deutsche post confirmed its guidance for 2017 predicting a strong Christmas Period despite Third Quarter ebit slightly below expectations earlier we spoke with the ceo. At the moment the World Economy is in such good shape. Trade is picking up significantly against all discussion about protectionism we see strong growth around the world in all our parts we probably havent seen that for four, five years the world is in a good place at the moment that drives a company who is supporting global trade. I told you we had a lot going on on the german corporate front. Munich re posting a also of 1. 4 billion euros in the Fourth Quarter as natural disasters weighed on numbers they expect to post a small profit this year, while forecasting the combined ratio rising to 112 the cfo said he Sees Opportunities for growth the losses are so why not only because we have changing climate that is still an open question how much of an impact this had on the hurricanes here, but the density of population close to the shores and the higher value concentration, that is the key point and we are also faced with the phenomenon of underinsurance and that is what my colleague from swiss re also emphasized. Still even in the region like southeast usa, the level of economic losses is way higher than that of insured losses. That provides us with Enormous Growth opportunities coming up, we will be stepping away from corporate earnings well head out to lisbon where karen has spoken to musician wyclef jean. He even sang a song for her. Cnbc with wyclef jean origina refug fue. So i built this kickin new website with godaddy. Building a website in under an hour is easy 68 of people. Who have built their website using gocentral, did it in. Under an hour, and you can too. Type in your business or idea. Pick your favourite design. Personalize it with beautiful images. And. Youre done and now business is booming. Harriet, its a double stitch not a cross stitch build a better website in under an hour. Free to try. No credit card required. Gocentral from godaddy. Somesend you and your family overwhelrunning. Y can. Introducing febreze one for fabric and air. No aerosols. No dyes. No heavy perfumes. It cleans away odors for a pure light freshness. So you can spray and stay. Febreze one, breathe happy. Commerzbank returned to profit in the Third Quarter as restructuring efforts appear to bear fruit net profit was broadly in line with expectations adding the forecast of slightly positive earnings the bank was making Good Progress in the transformation annette has all the details. Not looking too badly. No, its not looking too badly. If you look at the underlining earnings power its still muted in line with the other banks which we have seen reporting earnings for the last quarter. So the profit and also the operating profit is mainly boosted by one of the effects like disposal of the headquarter towers, and also disposal of other parts of the business. Still the overall message is that the restructuring is going in the right direction and that also Going Forward the bank should benefit also from higher Interest Rates and also, of course, what drives shares and has been driving these shares during the course of this year are m a speculations, because there seems to be quite a number of bidders interested in parts of commerzbank, and also the german state disposed of their stake as soon as next year of course that is one of the big topics i will tackle with the cfo with an interview at 11 40 cet, which i will bring to you live from the headquarters right behind me. With that, back to you thank you very much weve had so many Company Earnings out this morning. Lets try to make sense of some of them and where the markets are heading with the chief Investment Officer at Deutsche BankWealth Management what do you make of the earnings season so far. Were seeing plenty of missing and beats, but overall an optimistic picture i would say yes we have seen and we look at the beginning of the year at the earnings interestingly what you can see is normally the earnings estimations are high and then go down throughout the year this time theyre stable in europe and even japan theyre going up so i think the earnings picture is decent. At the same time you say equities do look expensive this is something we heard from analysts, not just from your bank for much of this year, yet we continue to see investors buying into equities maybe because there is no alternative, but also because earnings dont disappoint do we chase that rally into yearend first, yes, we do see investors probably chasing the equity market. Yes, there is probably no alternative to equities because if you get yields in Central Europe very low, even negative and we see people are not overly optimistic so there was still hesitation to go into the equity market. With earnings coming in decent, more people are moving to the equity space is that rally continuing into yearend if you look at Third Quarter, normally thats a time of the year where the rally is fading away we have seen a strong q3 now i would say if markets stay flat that would be a nice outcome we always hear volatility is at record levels, multiyear lows theres too much complacency in the markets. What could trip up the markets if its not earnings disappointments . Could be geopolitical events, but also the discussion what we see now, we see growth coming back, for several years we talked about secular stagnation. This is probably coming back growth is coming back, not massively but decently on the other side, Central Banks are slow but moving in the direction if you look at fed and ecb of changing policy the fed being far, far ahead of the ecb. However, i think what you see down the road is if Central Banks do a policy mistake that change Central Banks policy. We dont think thats the case Central Banks are trying to communicate well, what theyre doing not to shock the market. So far theyve done a good job. What specifically do you like when it comes to sectors, when it comes to regions . We do in sectors we Like Technology still i think many clients ask ourselves where do invest now because equity market has run quite a bit. Is there room for upside i think if we look, yes, we can say were late cycle in europe its different maybe i start with the u. S if you look at the u. S. , we think what themes are there which are longer term themes we have four themes in mind. One is cybersecurity, but we still see investments necessary on the companys side, on the private side one is healthcare, where we see massive changes. One is infrastructure, then we also focus on the millennials as consumers, they are taking over as the Largest Consumer group. Thats something we have in mind on europe its different were changing a bit because we think from here onwards european equities could outperform the u. S. Because europe is not that late cycle as the u. S. Recession was much later there it changes earnings are coming back nicely. The central bank is behind the fed. So we favor more to europe than for the time being still europe versus the u. S that debate continues. Christian, thank you very much for that the chief Investment Officer at Deutsche BankWealth Management. Now, in other news, spotify and deazer have teamed up to great Digital Music europe the announcement comes as the Business Model for europe has been disrupted and reinvigorated by a host of streaming platforms. Global Revenue Growth for the industry is forecast to grow by 60 in 2017. Speaking to cnbc at the web summit in lisbon, wyclef jean said he thinks music streaming is here to stay. The reason why these streaming services that were talking about will survive, and theyre not going anywhere, theyll keep getting bigger is because whether we talk about deazer, spotify or apple music, the customization of it is for a particular person that comes into the restaurant. So when you go to deazer, you know this is the kind of music im looking for. Apple music, i watch my daughter go to it certain things she will go on apple music, certain things spotify and certain things deazer so i think the free market has to constantly be open for competition, new ideas who knows, i might have a new streaming service. Lets get out to karen who is still at the web summit in lisbon love how you were being serenaded before by wyclef jean. That was impressive. Would you belief his dolce tones were so well received here at web summit amid all the conversations about Technology Technology is coming to music. Joining me now is the ceo of deazer great to see you, your arrival to spotify, apple music, we were talking ing ting t ing ting ton yesterday, he said you have an ability to showcase now and stream music why does it have to be niche the difference nowadays is we can cater to the case of every person with deezer, we believe every human has their own music dna. You can touch much more people and connect people with music than ever before thanks to streaming. It makes sense in the old days, you would walk into the store, there would be 20 big new releases, or topselling artists. But if youre looking for a song or artist, you can do that on any website. How is yours different people get lost if you look at our catalog, we have over 42 million tracks, a huge number. 100,000 podcasts, people get lost and dont know what to listen to. A good service like deezer finds what the person likes, recommends new songs that you never listened to before, and makes it an experience which is unified. Youre not just a Library Catalog because youre going into the business of making content like netflix, that sounds expensive it is expensive, but on the other side audio is less expensive to produce than video. But in deezer, we produce our own talk shows, we have our own comedy shows were trying to experiment and enrich the product for the consumer, try to be as local as possible, because we believe at the end of the day theres always a strong force when it comes to local taste, local music and local listening. The difference is when netflix was going with the same type of model in 22 020011 2011d 22 million paying subscribers. You have 9 million how do you fund that we have 12 million active subscribers, and more than 9 million paying its more about the creative idea to have a studio is not expensive. Its more the creativity its not the money that drives local productions. Ai, the internet of things, how is that changing your world . Big time. Ai for sure can develop music in the future where you try to build a new song with ai, which is quite fascinating. For us instead of learning what the user or the listener wants to listen to at this moment, because data can do a lot, but when you do selflearning you can come to a position where i can give you exactly the music you want to listen to. Hans, thank you for joining us here at web summit. He will be on stage with wyclef jean shortly carol carolin, back to you. Still coming up on the show, as President Trump makes his way to the apex summit in vietnam, looks like he has a controversial meeting on the agenda well explain. Happy anniversary dinnedarlin im messing up every dish, pot, and plate. To show my love. Tada all this devotion only calls for a little bit of dawn ultra. So concentrated, just one bottle has the grease cleaning power of three. Bottles of this other liquid. A drop of dawn and grease is gone. Try using dawn beyond the sink. I just saved thousands in less than a minute, i found out how much home i can afford. I like how you shop for loans the same way you shop for flights online. I didnt realize at lendingtree you can save money on almost any sort of loan. I consolidated my Credit Card Debt with a personal loan. I found a new credit card with 0 interest for 15 months. You just shop, compare, and save. And its all free. Go to lendingtree right now and start saving. Hello. Welcome back to street signs. Im carolin roth these are your headlines first World Problems burberry shares sink as investors are left unimpressed by the turnaround plan despite a rise in profits. Taxes headwinds for vestas. The largest wind turbine maker lowers its profits outlook on fears u. S. Tax reforms could slash support for its industry. Sending shares plummeting. Blown away pricing pressures an overcapacity at siemens as the gas turbine unit hurt the Fourth Quarter profits sending shares lower, but the co tells cnbc hes positive on the outlook despite complicated environments in the business we have been outperforming competition. As i said, i look at my business, i look at our customers, we also are mindful about our competitors. I think we are on a good track and adidas shares fall despite the company posting a Third Quarter earnings beat driven by growth in china and the u. S Kasper Rorsted says the company will push ahead for its plans for american expansion theres no doubt within the u. S. Marketplace that is hardly growing and were growing more than 30 shows we are gaining traction for the last three years in the u. S good morning lets show you how the u. S. Futures are shaping up were looking at a negative start to the trading day the dow jones seen off by 43 points after it rose by 6 points yesterday. The nasdaq seen off by 8 the s p 500 seen off by 3 1 2 points we turned positive at the end of the session yesterday with the dow extending its winning streak to seven days. The s p 500 rose for the sixty time in seven sessions obviously there are a lot of question marks about the future of tax reform as we await the senate bill. A quick look at european markets. Once again were driven by Third Quarter earnings which keep on rolling in this sort of belies the big moves that were seeing in some individual stocks. The xetra dax is flat. The ftse 100 is off by 4 points. Burberry is a big mover there to the down side after that strategy overhaul. The ftse mib is recovering from weakness yesterday on the back of continued worries about the npl problems the dollar is a bit shaky now given the concerns about tax reform and what we could be seeing from the Senate Dollar yen off by 0. 3 to be honest, pound sterling or cable is stable actually despite a second resignation from theresa mays cabinet overnight. Lets get back to one of our top stories. The u. S. Senate is expected to roll out its tax plan today which could include a delay and a Major Corporate tax cut. Any differences between the senate and house versions would have to be ironed out before a tax cut could become law House Speaker paul ryan gave an interview that seemed to leave the door open to later implementation of the tax cut. Ylan mui has more. Reporter republicans races to make progress on tax reform before the week is out in the house members are facing tough math as the cost of their tax plan rises to 1 1. 7 trillio over a decade. And that would violate the special rules that republicans want to use to fast track this legislation. Congressman mark walker of north carolina, who heads the influential republican study committee, says hes confident this bill will get passed and that his members feel a sense of urgency particularly after the democrats big win last night. Its a wakeup call for republicans not to straddle the fence on these issues. If you look at the people who supported donald trump in the past presidency election, it was because he was very clear on his issue when it comes to repealing obamacare, when it comes to delivering on tax reform, infrastructure, these are things that republicans must lead on and not be passe in. Reporter making the numbers work is even harder in the senate the plan cant cost more than 1. 5 trillion over ten years, and it cant add to the deficit in the years after that. So theres still a lot of debate over whether republicans will be able to lower the corporate rate to 20 immediately and permanently. Democratic senator Chuck Schumer slammed reports that this bill would get rid of the very popular state and local tax deduction. We are saying to our republican colleagues, if you continue to try and eliminate the state and local deduction, youre going to kill suburban legislators who are already in trouble because the suburbs dont seem to like donald trump. So we say to our republican friends on this tax bill, as Clint Eastwood said, want to pass this tax bill you want to hurt the suburbs make our day make our day reporter democrats are proposing linking the Corporate Tax rate to worker wages if households dont get the 4,000 pay raise republicans have promised, the corporate rate would jump back up to 35 tomorrow is an important mile marker for republicans the house ways and Means Committee is set to vote on its version of the tax bill. And the Senate Finance committee will release its own plan as well then its a sprint to get it to the president s desk by christmas. And zip it is the order from the judge in the Paul Manafort case the judge said a gag order was needed to preserve a fair trial. Donald trumps former Campaign Manager and an associate face charges related to Money Laundering and secret Bank Accounts related to their work for a ukraine prorussian government and another high level departure from theresa mays government minister patel resigned amid controversy over her undisclosed meetings with high ranking israeli officials including Benjamin Netanyahu the government was not told of the meetings in advance but may ordered her to cut short a trip and return to downing street for a meeting with her her Resignation Letter was released moments later. And jamie dimon met with theresa may and chancellor hammond. The talks were an opportunity to gain further clarity on the british governments brexit plans. Following following the meeting, a spokesperson said while some uncertainty remains, the government understands the firms strategy such as ours. Trump criticized what he called a onesided and unfair trade relationship, but was quick to point out he did not blame beijing for taking advantage of u. S. Policy the two leaders agreed to work towards denuclearization on the Korean Peninsula reporter President Trump and president xi wrapped up their meetings with mutual admiration for each other at a joint press conference, President Trump called presiden xi a special man and said the two have great chemistry president xi in turn said that President Trumps visit to china was historic and said that cooperation between the two countries was the only viable choice for the future. The two president s spent the morning in a series of meetings where they discussed north korea as well as trade in the past President Trump has been critical of china, today he softened his tone. Both the United States and china will have a more prosperous future if we can achieve a level, economic playing field. Right now unfortunately it is a very onesided and unfair one, but but i dont blame china [ applause ] after all, who can blame a country for being able to take advantage of another country for the benefit of its citizens. I give china great credit. To reduce the trade deficit, officials here announced 2 250 billion worth of deals ranging from exploration for natural gas in the state of alaska to china buying more tesla cars on north korea, President Trump said he was pushing president xi to address the north korea threat and president xi said he believed there was a solution through dialogue translator on the Korean Peninsular nuclear issue, we reiterated the Firm Commitment to achieving denuclearization of the peninsula and upholding International Nonproliferation regime the two sides will continue to fully and strictly implement u. N. Security council resolutions, at the same time the two sides commit towards working towards a solution president xi reiterated china would become more and more open to the world including to foreign companies. Eunice yoon, cnbc business news, beijing. President trump is headed to vietnam where World Leaders ar gathering for the apex summit. Nancy filed this report from da nang ministers are scrambling at the apex summit to get a deal through on tpp 11 in time for the conclusion of the meetings ceos are trying to work out what the future of globalization looks like in a world in which u. S. President donald trump appears to be taking a step back from multilateral organizations. This after donald trump touted a series of multibillion dollar deals reached in china and many members of apec are wondering whats at stake with their future relations with the u. S. I had the chance to speak to ian bremer about this situation. Trump is a unilateryununilat. Hes not big on saying i wanted america to be a part of these big multilateral institutions like apec. Those are forums he doesnt perform well at. The important thing is he has gotten away from a disastrous week in the United States. Wasnt a good election day for the republicans or for trump has not been good for the mueller investigation. So far he stuck to script and is with friends canada is one party of the tp 11 group thats hoping this deal will still be a successful one with the u. S. Not having a seat at the table but aside from trade, canada is also keeping a very close eye on the security situation throughout this region i had a chance to speak with canadas foreign minister about her perspective of the situation with north korea today the sanctions regime has been tightened, and i do think that it is starting to have an impact it is worth, in particular, mentioning the chinese role there. And that has been positive but clearly this is a situation which has not been resolved. And we all really need to Work Together the whole security of the world, of the asia pacific is really jeopardized by the north korea situation and by incomenorth ko actions. More work to be done is the word from the Canadian Foreign minister there along with the issue of trade it will be a long day here when the leaders arrive on the red carpet behind me tomorrow for a series of meetings. Among those leaders, the key players in the talks on north korea, thats china, the u. S. , and russia citigroup ceo has said he supports prince alwaleed. He said he has been a consist sn supporter of the company this as saudi arabia expands its corruption crackdown on government and business officials. Mohammed bin nayef who was removed from his position last june was the latest highprofile royal to have their bank account frozen. Mike pence visited the town where a gunman opened fire on a church con gagregation on sunda killing 26 people. Reporter for the second time in as many months, Vice President mike pence offered comfort to a community stricken by gun violence. We gather today to grieve those, but also we gather to resolve this evil must end. Reporter he met with First Responders including the two citizens who stopped the gunman and attended a prayer vigil. Back at the scene investigators continue to dig into the background of shooter devin kelley k kelley and his kids attended the fall fast v fall festival at the church. Peggy warden shielded her grandson zach, he was shot six times but he survived. Incredible acts of bravery in the face of horror sarah dollof, nbc news its been a whole year since donald trump was elected u. S. President and Academy Award winning actress jane fonda claims there is widespread discontent in trumps america. Take a listen. There are so many people in the middle of our country in the United States that are in such deep pain. Theyre so scared, they dont know who they are anymore because everything that gave them an identity, their jobs, union jobs in factories where they could bring home a salary to support a family and pay for a home, those are gone theres no institutions anymore that they can look to for identity thats why the nra, the National Rifle association is so successful they give people an identity we have to change that we have to create new institutions for these people that can make them feel like human beings that are seen and respected again. You can hear more from her interview with tanya breyer in the cnbc conversation tonight at 23 00. Trt l be back with plenty more seesigns. For your heart. Your joints. Or your digestion. So why wouldnt you take something for the most important part of you. Your brain. With an ingredient originally found in jellyfish, prevagen is now the number one selling brain Health Supplement in drug stores nationwide. Prevagen. The name to remember. Theseare heading back home. Y oil thanks to dawn, rescue workers only trust dawn, because its tough on grease yet gentle. I am home, i am home, i am home hi, im the internet you knoarmless bowling. Lt . You got this, jimmy you know whats easy . Building your website with godaddy. Pick a domain name. Choose a design. You can build a website in under an hour. Now thats a strike get your domain today and get a free trial of gocentral. Build a better website in under an hour. I love you. Apple is on its way to becoming a trillion Dollar Company after it ended trading with the market cap above 9 900 billion for the first time ever. The milestone comes shortly after the release of the iphone x and Quarterly Earnings that beat forecasts the founder of aol says we have hit peak Silicon Valley. Speaking to cnbc at web summit, steve case says investors need to back entrepreneurs outside the volley he spoke to karen in lisbon. Hes entirely right as somebody who defined the 1990s, the internet and much of the early 21st century, hes in a unique position to say that. Then you look at the data and see investment or Venture Capital investment into Silicon Valley is going down so youre seeing a massive rise in china in particular, but also europe and other parts of the United States as steve is actively involved in well have more from steve case and his take on Tech Industry on cnbc. Com. 21st century fox slightly beat on revenues in the First Quarter boosted by strength in its cable business the earnings come ahead of heightened scrutiny over its takeover of sky and deal talks with disney. Fox would not comment on disney conversations but says it expects the sky deal to close by the middle of 2018 at t and u. S. Antitrust regulators are in difficult talks over approval of the 85 billion bid to take over time warner the department of justice is said to have demanded that at t sell off turner broadcast, which includes cnn government sources say at t proposed selling cnn, but the companys ceo said he never made such an offer and has no intention of doing so. Cnbc will speak with Randall Stephenson later today in new york frances total is buying lng. The deal is worth around 1 1. 5 billion. It is set to make total the second largest player in the lng market with 10 of market share by 2020. The acquisition concludes engies exit from gas and oil. This as the utility goes through a strategic restructuring. In a havent interview, totals ceo said engies makes up a part of the outlook we are among the top three companies. We believe the lng market will be more and more liquid because you have more production points and delivery points in the world. Yes, were looking to increase its part of the strategy announce announced. Hungarian oil and gas company m. O. L. Group is going through a radical transformation including a move away from hydro cacarbon motor fuels. Im joined by the cfo of mol great to have you back on the show lets talk about the oil markets. Brent crude hovering around the 63 mark. Last week, we were at 56 this is a huge jump from the summer levels, 40 for brent crude alone. Do you think these prices are sustainable . Thats good news for our upstream business. We are happy with development. As for the medium term or longterm outlook, we are not changing our strategy consumption. We very much come to 50 oil and want to be ready with our Business Model for this. If its 63, we want to enjoy the benefit of this. You have been planning to transform your business away from a pure oil and Energy Business into a chemicals business, into an evbased business would the Higher Oil Prices make you rethink that transformation . It simply doesnt make as much sense. Well, no, i dont think so. They are two different stories im meeting investors today and expecting both topics coming up. One is today we are in the age of the fuel. We have increasing fuel demand in Eastern Europe. We have the Business Model to run this, and generate profit out of this. So as for this year results, its very much determined by the fuel we have our strategy, what we call mol 2030, thats about the transformation thats about petrochemicals. And what our Business Model will be bond fueeyond fuel how flexible are you in implementing that 2030 strategy . We have a lot of time until 2030 will you be driven by Market Forces or the prices of some of the things we have full flexibility, and i think thats the beauty of the strategy fuel demand will keep growing, then we can continue with the current traditional Business Model, however we have to be ready for the change that could be the petrochemical side when we start investment, and also the huge transformation on the consumer business, which mea means Fleet Management for us. How much future is there for ev chargers for batteries in Eastern Europe arent we lightyears away from this becoming a mass market . We are following the development in europe. My colleagues are in latvia signing an agreement as a leading member of the next consortium about building several hundred fast ev chargers in Eastern Europe. The plan is if you get to your car in london and you want to get to the adriatic sea, we will provide the part of the infrastructure for travel and you can use one cart for all of the building when electric vehicles take off, people usually say this is going to have huge detrimental impact on oil demand, areyou o the same page . Do you think the two will have an inverse negative relationship or do you think oil prices can still rise and demand can rise if we see a resurgence in ev when we dont know, but we want to be ready for the transformation and lead this transformation in central and Eastern Europe preliminarily in the meantime we want to leverage the benefits from the higher prices and from the current Business Model thank you very much for that. Appreciate your time thank you very much before we wrap up the show, a quick look at u. S. Futures last time we checked they looked negative there you go the dow jones seen off by 35 points not too much of a downside expected, but maybe more fatigue in the markets after weve been hitting record highs after record highs in focus today is the details coming from the senates plan for the tax reform the s p 500 seen off by 3. 5 points the nasdaq off by a point. Once again, well be watching what comes out of the tax reform plans from the senate. Thats it for todays show im carolin roth Worldwide Exchange is up next. Okay, i never thought id say this, but i found bladder leak underwear thats actually pretty. Surprised . Its called always discreet boutique. It looks and fits like my underwear. I know what youre thinking. How can something this pretty protect . Hidden inside is a super absorbent core that quickly turns liquid to gel. For incredible protection. So i feel protected. And pretty. New always discreet boutique. And im the founder of ugmonk. 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