Of 125 so, that is just a touch below expectations the headline index, that is easily beating expectations. Lets get instant reaction to this from annette. The key question here, to what extent did this already factor in the collapse of the Coalition Talks . Would this have been reflected in this result actually, the cut off date of that poll by ifo is yesterday. There is a fraction of respondents who have factored that in in their response. Ifo is also saying the majority of clients are responding in the first two weeks. So, bottom line is there is only a slight effect of the collapse talks in the numbers setting these things aside, there are many people also, the German Economic Council of economic experts, who say those failed talks should not necessarily dampen the Economic Conditions and the outlook for the economy. Because its quite clear in the end well get some sort of government, whether it takes a month or two or three longer wouldnt be much of a problem for the economy and the visibility Going Forward thats what we can read into the numbers also when it comes to the outlook. The outlook component of the ifo is astonishingly strong. Expected, of course, was a steady reading at 160. That outcome now of 117. 5 is to be fair, its better than expected so, again, the political turmoil in germany is partially reflected in that number already, but not to a huge degree i guess some people are even suggesting that it doesnt make too much of a difference whether we have a government in place or not in germany with that, back to you as you rightly say, the German Economy is on track for a boom it doesnt seem like politics is making a difference at this point given that the ifo numbers, every month they sem to be hseem to be hitting a new record i need to talk about politics. Overnight theres some movement, maybe were going back to the option of a grand coalition, something that the spd under Martin Schulz has ruled out time and tile again w why is the door open again theres a split inside with social democrats theres a part in the social democrats which is called the zehimer circle, a conservative block, they are more or less open for talks to a grand coalition. A growing number also of lawmakers does not want to be the reason why germany is headed towards a time of political instability and also new elections. Lets face it, new elections wouldnt do anything good for Martin Schulz spd opinion polls are suggesting with new elections the social democrats could fall below the 20 threshold. So theres a growing number of social democrats inside the party, also inside the leadership apparently, who are saying we have to avoid new elections at all costs even if that means grand coalition. For now what the social democrats so far are saying is theyre open to talks. They dont want to say theyre open to grand coalition. Keep in mind the timeline is quite interesting. In two weeks there is a Party Convention by the social democrats, and at that Party Convention they can come up with the narrative, how to explain potential uturn, in the end there might be a grand coalition once again ive been talking to people on the ground in berlin i think theres a growing number of persons who believe well end up with a grand coalition once again. Angela merkel has said i dont do minority governments. If we are heading towards a scenario for minority government im not afraid of new elections. Its clearly the pressure on the social democrats to move annette, thank you very much for that stick around for the time being, first i want to get back to the president of the Ifo Institute for economic research. Always are seeing the ifo index beating expectations you say the German Economy is headed for a boom. I dont see anything going wrong with the German Economy at this point, given that the mind blowingly strong 8 growth for the German Economy last week do you see any reasons to worry about the German Economy at this point . Not in the shortterm were seeing the upswing is getting broader and more robust. In recent years the upswing was mainly based on domestic demand. Now export is becoming very strong again so, we see an increase in the index readings from companies, from the chemical sector, the Metal Industry so its strong, and i think there are no obvious risks ahead. The German Economy is export dependent. Currently the World Economy is recovering, but there is no guarantee this will continue but for the time being the outlook is quite good. What i find striking is that over the summer, even though the broadbased euro strength, the German Economy fired on all cylinders. Now we have uncertainty when it comes to the Political Landscape in germany i know the latest ifo index to some extent included the period where germans knew about the collapse of Coalition Talks. How do you explain the fact that the German Economy is so resilient on so many fronts, whether its politics or the Euro Exchange rate i would say the Euro Exchange rate is just an indicator of the recovery, not just in germany but in the entire euro area. Thats why the index is the euro is strong i wouldnt see it as a danger for the upswing. It is rather a symptom Political Uncertainty is being discussed in germany its unusual to spend, you know, more than two, three months until we get a Coalition Government the impact on the economy is very limited up to now i think this would only change if theres a perception that generally the Political Climate would change to more Political Uncertainty. But delay of just a few weeks or months is not a problem. What do you mean by that, more Political Uncertainty wouldthat mean new elections o a return to the grand coalition or the Kenya Coalition that some people are talking about what exactly do you think would be the most problematic for the German Economy what would be the best outcome i think it would be problematic if, you know, if there was no coalition now, no minority government but reelections with the same result and ongoing uncertainty and instability maybe for a year or more. Were very far from that so i think the German Economy could live with coalition or even with a minority government. This is not part of the political tradition. But i think minority government could work very well it would revitalize parliamentary debates. Grand coalition could work the risk is that this will make the margins stronger, a development weve seen in austria in past years, the same could happen in germany. So the center partys diminishing and parties on the left and right getting stronger. Thats the main risk of a grand coalition. Just want to tell viewers, the euro dollar spiked to a session high, 118. 69 up by 0. 2 on the day you can see the tiny spike there at the righthand side of your chart, which came on the back of the ifo numbers. Final question to you, do you think that the lack of certainty about what will happen next on the german political scene is going to impact the goings on in europe to the extent that we might not have a future when it comes to the next trade or the trade talks around brexit . Everyone is waiting for that december summit in brussels. Do you think this could slow the overall talks on brexit . I think it will that is a problem. Without german government, i think it will be more difficult, not impossible but more difficult to proceed here what will also be slowed down is talks on the reform of the eurozone the idea was that there would be a german french proposal in 2018 now this will be more difficult. I dont think well have a government in january. Seems kind of selfexplanatory thank you very much for that clemens fuest, always great speaking with you. Back to german politics, Martin Schulz has become embroiled in a fight with one of germanys top Business Leaders joe kaeser attacked the leader taking him on relating to job cuts in a letter kaeser said maybe you should think about who is really acting irresponsibly, those who are proactively trying to deal with unavoidable structural problems, or those looking who avoid responsibility for dialogue i guess that doesnt bode well for the position Martin Schulz finds himself in not at all. It wasnt tactical to do these open accusations in parliament on behalf of Martin Schulz what we were saying, siemen s is living on state support. That probably made mr. Kaeser write that letter saying we have wired more than 20 billion euros over the course of five years to you, the german state in taxes, Social Security spendings, we dont live on anything from the german state we dont know whether they get subsidies. But probably that siemens is probably a net pay when it comes to taxes and Social Security so it was just outrightly wrong to call them living on state support on behalf of Martin Schulz and joe kaeser is known as a man who does not like to be accused of things he thinks are unfair so, hes written that letter, it was eloquently leaked to the press. Hes saying spd, you have to act responsibly. Its not us, the irresponsible component in the equation, its you. The question is the stability of germany. We are not talking just about one company. So hes putting the ball rightly back in the field of Martin Schulzs spd the spd has a hard time now one has to say we were talking about it early on a little bit. Theyre really split those who are saying we dont do a grand coalition with Angela Merkel and those saying we have to do that because its our job to be a party who is willing to form a coalition ithink Going Forward, it will be a tough time for the social democrats to find Common Ground here as i was saying, early december is Party Convention and perhaps more clarity when they all convene. Back to you. Annette, thank you very much for that want to show viewers how were faring on the stoxx 600 this morning one hour into the trading session, we are flat as a pancake. Not a lot of movement. At the start of the trading session we did see some very, very modest gains, and if we are on track for those gains today, then it looks like well be snapping a twoweek losing streak for the stoxx 600 overall. Were light in terms of Corporate News we have the ifo data, once again, better than expected. A new record high. That sent the euro higher. Maybe the euro strength is taking the shine off of europe peern european equities the xetra dax has been hanging on to that 13,000 level. Today, marginally higher the ftse 100 off by 0. 2 the cac 40 is up by roughly 12 points want to show you what the sectors look like at this point. You have banks, autos, food and beverages trending to the upside underperformance in healthcare, basic resources, construction, material volumes once again are probably going to be on the lighter side today, give than were having a half day of trade in the u. S the u. S. Was out for trade yesterday. That led to a fiveweek low in volumes in trade, in the German Market yesterday lets talk about politics in zimbabwe these are live pictures of Emerson Mnangagwa as he is being installed as president of zimbabwe after the resignation of rob berert mugabe a lot of people wonder as to whether well actually see a shift in governance in zimbabwe given that he has been part of the party and the establishment for so long. These are some live pictures from zimbabwe at this point. Email the show. The address is streetsignseurope cnbc. Com you can find us on twitter, streetsignseurope cnbc and tweet me at carolincnbc we will go for a quick break. Coming up, consumer coaxing. China cuts import tariffs on products from food to pharmaceuticals in a bid to boost domestic spending. More details after the break zar one of our investors was in his late 50s right in the heart of the financial crisis, and saw his portfolio drop by double digits. It really scared him out of the markets. 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Heres a quick update with Greater China shares, struggling to find direction today after blue chip stocks posted their biggest oneday fall in 18 months on thursday the downward sentiment in equities was being driven by a government crackdown on leverage and a selloff in the bond market. The chinese tenyear yield is at the highest level in three years. Though back below the crucial 4 level that we saw over the past couple days. The Chinese Government has cut import tariffs on certain goods in its latest attempt to boost consumption. The measures will see charges nearly halve on perfume, shampoos and disposable diapers. The government is hoping to offset higher import charges which meant many consumers are making purchases abroad. Lets see highway thow this hasd some consumer names in europe. Were seeing a positive reaction danone is up by almost 1. 2 , and Reckitt Benckiser is also up this seems to be effective whats the hope. Two points. The first is a shortterm point. The shortterm point here is the market is reacting to whats going on in the bond market. So, the Corporate Bond yields spiked the tenyear chinese debt Government Debt spiked we saw that run up to 4 which we slipped away from here. People leveraged into owning equities have decided maybe its time to lighten up a bit here. I think thats what caused the recent selling down. Be aware, we ran up 15 from the may lows in chinese markets. You had a good run if you got engaged in this early. Thats whats going on in the shortterm thats why we have choppy trade here buyers and sellers are fighting it out for the Trend Direction longer term there are broader issues the real key is what is the Chinese Government paying for growth because they reaccelerated the economy in 2016, xi jinping got that boost to run into the party congress, and secure his political future but every time the government does this, and juices the economy, they run up Government Debt and they run private sector debt and if you look at where we are on corporate debt in china now, its around 170 of gdp. For goodness sake, the u. S. Is only at about 200 of gdp. We know how much our american friends love to gorge not only on thanksgiving turkey but Corporate Credit so the chinese with a less sophisticated Credit Structure are engaging heavily on the western disease, which is to bring forward the future and buy the future through debt. The risk for International Investors t could all go wrong in the next 12, 18 months or the Chinese Government may be able to keep a lid on it. It looks like a tough call at the moment its a tough balancing act for the Chinese Government overall. Theyre trying to deflate the bubble but trying not to burst it we remember what happened when intervention became heavy handed at the start of 2016 when we saw that major telloff ba selloff. Based on the correction we saw yesterday, some people said this was just profit taking, because we saw this nice run up, should we get more accustomed to the fact that these selloffs will come back time and time again . This is something that the new normal as the Chinese Government tries to manage the markets . I agree with you. Theres a level of investors here who are relatively new to the idea of putting money to work in these kinds of asset classes. Of course, you know, there are lots of loeg rogues still oper on the shadow Banking System who are involved in micro finance and involved in the new Fund Management industry in china structurally these businesses that are creating credit are growing phenomenally quickly the government is finding it hard to keep a lid on them the problem it seems to me is that at the same time that theyre trying to manage the structural shift in the economy, away from exporting, they ar trying to build up an asset Management Industry that builds in some pension system, that builds in optionality for those looking for higher return for investments. At the same time theyre trying to do that, theyre also trying to tamp down speculation in the Property Market and other areas of the financial economy you are too young to have watched the original dr. Doolittle film, there was a push me pull you ccreature. That animal didnt know which way it was going, both ends wanted to go in one direction or the other. Thats the challenge for the chinese. They have injected 70 billion into the market to create liquidity this month at the same time as other parts of the regulatory system are trying to suck liquidity out of parts of the market they dont want to encourage like speculation in the Housing Market very difficult to reconcile those two ends of the story even as you try to manage growth at 6. 5 geoff, thank you very much for that and analysis. Youre now off to your well deserved, hardearned weekend. Youre free. A few more things to do in the office, not far away thank you very much staying with china, chinas trade with north korea fell in october. The latest sign that tough u. N. Sanctions against pyongyang are having an impact overall trade fell to 3 335 million, the weakest level since february as imports sank to their lowest level in years. The north korean soldier who was shot as he attempted to escape the country is recovering from his injuries. Dramatic footage earlier in the week captured the moments he crossed the border after being chased by north korean soldiers. Reporter on a u. S. Helicopter a north korean defector, a soldier shot five times, clinging to life, rushed to surgery doctors now say he will live and while hes recovering, hes watching the american tv series csi. If were going to die reporter the hollywood film the transporteder. He really likes american movies, says the surgeon, who also found dozens of worms in his body, one nearly a foot long, suggesting a harsh life in the north. The soldiers escape is straight from hollywood his highspeed drive, dramatic sprint across the border, his former comrades firing to stop him, before he collapses and is dragged to freedom by south korean soldiers. In all six servicemen, including three americans, were honored today in korea with the Army Commendation medal you were all in the range of fire from the north korean soldiers, you knew this was a precarious situation reporter the guards, who failed to stop the escape, have reportedly been replaced deserters from kim jong uns army can expect parents, siblings, even grandparents to be arrested and jailed the fear is this very public betrayal will not go unpunished. Incredible footage there. Lets move on and talk about other news uber says it told softbank about its data breach before making details public the company has been in talks with the Japanese Firm about an investment that could be as big as 10 billion this week it was revealed that personal information from some 57 million uber accounts was compromised. Uber paid hackers 100,000 to keep the breach secret. Still coming up, we must step forward together, thats according to theresa may upon her arrival in brussels ahead of key talks with european leaders. Well have more after the short break. Signs. Im carolin roth these are your headlines calls grow for the spd to get a grand coalition back on the negotiating table as germanys president meets with Martin Schulz. Irelands opposition issues an election threat saying only the resignation of the deputy leader will prevent a fresh vote tasting good danone shows trading higher after china cuts import tariffs on certain products. And 1 1. 5 billion have already been spent going into black friday with smart commerce seeing a surge in volume good morning its the day after thanksgiving, it is black friday and i dont know how many people are going to be at their desks and trading stocks, but volumes are probably going to be light today. The dow jones seen off by 12 points the nasdaq off by 2 points after we hit that record on wednesday. This is the tenyear irish, which we dont need. Back to u. S. Futures lets show you where the s p 500 is expected to open today. A slightly higher move when we do get trading underway in a few hours time moving on to european markets. Ftse 100 under pressure, off by 0. 3 we have had movement on the cac 40 in terms of danone, which is one of the big consumer stocks seeing tariffs being cut by china for imported goods thats loosening shares this morning. The xetra dax is up by 11 points after the ifo business morale index at another record high in november as far as the currency markets are concerned, this is the picture. Euro is on track for 0. 5 gain this week against the u. S. Dollar this is because we saw broadbased dollar weakness this week given concerns about the trajectory of inflation. And i should tell you pound sterling is at a sixweek high ahead of further talks between brussels and the uk. This is a huge story as well ireland is facing a christmas election Opposition Party says it plans to submit a motion of no confidence in deputy Prime MinisterFrances Fitzgerald following a similar submission from sinn fein the move comes ahead amid concerns of her handling of a Police Whistle brother the government relies in the confidence the Irish Foreign minister said the government will not abandon fitzgerald they have said they do not want elections now. Lets have a quick look at tenyear irish bond yields they have risen off the back of those developments we are at 63 basis points. Uk Prime Minister theresa may set to meet European Council president donald tusk in brussels as they attempts to break the impasse in brexit talks. Key is the exit payment. The Prime Minister looks to have secured cabinet backing to raise the offer to 40 billion pounds talks are likely to focus on the Ireland Northern ireland border question speaking in brussels, the Prime Minister talked about the need for progress on talks. These negotiations are continuing im clear about that we must step forward today this is for the uk and the European Union to move on to the next stage lets discuss this with anand menon. Lets kick things off with the Biggest Movement overnight what will happen in ireland . Do you think well be facing new elections . I think its impossible to say. Theres a prospect of new elections. Then its very, very hard to say what outcome will be at the moment everything is uncertain. Irish politics under the republic is dominated by the Brexit Debate at the moment which brings those two stories nicely together. Youre right about that ireland has been adamant that the north and the south, they should have a similar Regulatory Regime when it comes to commercial trading after brexit. How can that be assured . Is that even possible or feasible there are ways of making it possible the problem is there are ways that the British Government that ruled out. You can imagine a situation where Northern Ireland is within the eu Single Market and the customs union, like the republic of ireland, but the rest of the uk is not. That would prevent a hard border within ireland but create a Customs Border between the Great Britain and Northern Ireland which is something the government has ruled out its very, very hard to see where the compromise will come both sides have put down clear red lines. Theyre imcompatible the clock is ticking. We have three weeks left until the crucial summit in brussels happening on the 14th and 15th of december. Thats when the uk, theresa may want to move on to the next step, to the trade talks this will not happen unless we have Financial Issues solved, the irish issues solved. The least controversial point at this point is the right of eu citizens in the uk and vice version is a going forwa vices going on each side are playing cheeky with the other both sides realize they need to get on to trade talks. For the British Government its crucial. In january, february, march, some of these big multinationals will be deciding whether or not to trigger Contingency Planning for a worst place outcome that means falling investments for the uk i expect as the summit approaches, you will see more flexibility from the British Government this is just an agreement in principle. The actual hard bargaining will come in a years time when the final deal has to be signed and sealed youre right on that. I guess talks, if we move on to the next stage, will only start after christmas and january, then it might take a long time to deal with some issues the 40 billion euros or bounds, im not sure which currency were talking about here in terms of the financial offer, i know none of this will be set in stone. This is still a moving target, a flexible number. Is this enough to appease the europeans to move ahead . I suspect it will be. I suspect at the moment that the irish border is the biggest problem. Bear in mind, this is seen by the British Government at the moment as a conditional offer. That is to say, yes, okay, well make an offer of 40 billion. If trade talks dont go as well as we want next year, we reserve the right to revisit that. This is just a very preliminary first step i think there are plenty more twists and turns on the road in the year ahead all right anand, thank you very much for that anand menon. On a programming note, well be live from ireland all next week with willem marx with squawk on the road lawyers for Michael Flynn have reportedly cut communication with President Trumps legal team which could be a sign flynn is cooperating with investigators according to the new york times, lawyers for the former National Security adviser told trumps team they could no longer discuss the special councils investigation into election meddling. Sexual misconduct allegations are jolting a special Senate Election three weeks away roy moore is largely staying out of the public eye as questions grow about his past behavior reporter Embattled Alabama Senate candidate roy moore virtually invisible on his own campaign trail his last public appearance a week ago since then, his Communications Director john rogers quit. Rogers departure leaving just six staffers on the moore team i sincerely appreciate your support. Reporter last thursday moore spoke out, refusing to take questions about the nine women accusing him of sexual misconduct, many claim, when they were teenagers. On tuesday, moore appeared on an alabama cable channel, interviewed by a supporter of his campaign did you ever date or go out with underage women . No. No reporter opponent Democrat Doug Jones turning up the heat with a new online attack ad. They were girls when roy moore immorally pursued them reporter meanwhile, jones making Campaign Stops across the state this week, even seen on thanksgiving were told moore wont have another public event before monday we asked the campaign about his recent absence but couldnt get a direct answer. Their response we are up in the polls. Money is flowing in. We continue to add support every day and we are confident in victory. Polls so far showing mixed results, matched by mixed feelings from voters now im having difficulties deciding what to do because i dont know whats real and whats not reporter alabama will be forced to decide december 12th catie beck, nbc news, birmingham, alabama. Lets get back to Corporate News here in europe. Clariant held talks with its largest investor, white tail, after the activist firm thwarted its merger with huntsman white tail demanded three seats on the board but was offered only one clariant rejected white tails request to hire an Investment Bank to explore strategic options. Unilever is reportedly starting the hunt to identify ceo paul polemans successor they have hired an executive search firm to find his replacement. No firm date is set for polmans retirement, but it is expected in about 18 months just want to take you back to zimbabwe where Emerson Mnangagwa has behad his inauguration to become president of zimbabwe, this following pressure on mr. Mugabe to step down, which eventually did in the end. The key question now, will there be changing afoot when it comes to the Political Landscape, the diplomatic relations with the rest of the word under theny leader, some say he may not be too different from mugabe, but time will tell coming up, the parade, balloons and festivities of thanksgiving made way for commerce from President Trump to black friday, bargain hunters, we will look at everything around the american holiday my friend susie cracks me up. But one laugh, and hello sensitive bladder. Ring a bell . Then you have to try always discreet. I didnt think protection this thin could work. But the super absorbent core turns liquid to gel. For incredible protection. Thats surprisingly thin. So its out of sight. And out of mind. Always discreet. For bladder leaks. Also in liners. U. S. President donald trump issued his traditional thanksgiving holiday message to american troops. He praised their work with, but also took time to talk up the stock market gains during his administration Edward Lawrence has the foull story. The president took timeout to thank u. S. Troops overseas the president telling the troops unemployment is down, the stock market is up, and this is what theyre fighting for thank you very much for your service. Very important area. Reporter in afghanistan, the general in charge of the 16yearold war says the sacrifice is worth it. We built the afghan army up to 350,000, now they own the fight. They need our help, but theyre willing to fight and die for their country. Reporter the president then served lunch in riviera, florida. The press, i know, doesnt have questions reporter on twitter President Trump recorded a video message for the rest of us this year in the face of painful hardships weve seen the incredible strength of the american spirit. Neighbors helping neighbors. Reporter the president then reminded us about his successes. Our stock market has hit a new alltime high. Unemployment is at a 17year low. We have created 5. 5 trillion worth of values. Reporter President Trump adds is he doing something special. President trump has no more scheduled Public Events for the holiday. The first family returns to the white house on sunday. President trump also slipped in a message about his tax plan. Take a listen. Were working on tax cuts, big, fat, beautiful tax cuts hopefully well get that as we give thanks on this holiday, i speak on behalf of all americans when i say we totally support you. In fact, we love you we really do we love you. And this is a thanksgiving that you wont forget youre in a very different part of the world than youre used to, boy, you are doing job there. Thank god for you. Some u. S. Shoppers didnt even finish their pumpkin pie before locking in the first black friday deals they already spent more than 5 1. 5 billion online by thanksgiving evening shoppers turned up at brick a brickandmortar stores as retailers kicked off the Holiday Shopping season early. In recent years, shoppers have given up their bargain hunting crown to the consumer. Alibaba has trumped black friday and cybermonday combined Chinese Shoppers has cemented singles day as the worlds biggest shopping event, this year sales passed 1 billion in two minutes. By the end of the day alibaba hauled more than 25 billion. Amazon workers in germany and italy have chosen to strike on black friday over protest in pay and conditions unions say more than 500 amazon employees in northern italy along with the staff at six warehouses in germany will take part amazon responded by saying its staff are among the best paid in the industry it added it remains focused on ensuring all orders are delivered on time. U. P. S. U. P. S. Is expecting 0 million package deliveries worldwide. The Company Plans to hire a significant number of Seasonal Workers. Were joined by the president of u. P. S. For uk, ireland and the nordics at u. P. S it is a pleasure to have you on the show on such an extremely busy day for you how has it gone so far given that sewtoday is such a cruciala for you. No, everything is going as planned. Were ready to handle those 750 million packages that well be delivering between now and the end of the year. It will be a record season for u. P. S. Between no and Christmas Well have 17 days where well deliver more than 30 million pack canals, thats double a normal day for u. P. S. Weve been getting ready for this we hired 95,000 Seasonal Workers around the world for this. 1400 in the uk everything is running normal so far. 1400 in the uk alone. I know a lot of planning and staffing planning goes into this how difficult is it to forecast how many additional workers youll need and how you plan capacity overall wetake a long time to plan for this time of the year. The first key piece of this is collaboration. We work with our largest shippers to understand how their forecasts are look we took that into consideration for plans. We have been also working a lot on capacity, because we get a flex network just imagine doubling the work we have at u. P. S. Requires capacity we have actually started a 2 billion investment in europe to expand capacity. Were probably halfway there eight weeks ago we opened our london hub, a 35,000 square meter facility that just got open so we can handle that demand seems like a vote of confidence for the uk economy as well, that may be surprising given the uncertainty on the political front. How do you square that up. The uk is a very important piece of our economy, and the market we have here. Were confident on the country our investment plans have not changed. A few weeks ago we signed an application for a new facility at the airport have to ask you about amazon. Amazon wants to eat everyones lunch, and its a blessing and a curse for you in the sense that youre seeing high volume coming through amazon orders, on the other hand i know its more expensive to deliver to residentialed ed addresses verss business addresses how did that impact you . Amazon is an important customer of u. P. S. Our working relationship is strong we work a lot with them to make sure we understand what theyre doing. On the other side, u. P. S. Is here to serve other customers and to support every customer they have online ambitions and they want to get their goods back into the hands of consumers. Thats what we take into consideration. Are you in position now to increase your prices for shipping is this not an environment where you think you can get some of that through we have contracts with shippers, prices are locked for the most part. At this moment, we have to develop plans in order to deliver our promise and deliver those 750 million packages into the hands of those consumers in time for christmas thats whats on our mind at this moment. What do you make of recent reports saying amazon will cut its reliance on third party shippers, like u. P. S. , like fedex t will go for amazon seller flex. How would that impact you . Its early to tell. As i mentioned, we have a good working relationship with them they talk to us about the different projects they have and we see how that fits with u. P. S. That doesnt change our strategy that we have, how we will support any type of business that is out there in the market. We have a broad portfolio of solutions we put out there in the market theres still a market out there and customers do want to use u. P. S. , they like our products and portfolio. Thank you very much for your time best of luck with this busy shopping season. In recent years, u. S. Bricks and mortar retailers have begun opening their doors earlier and earlier. Jay gray is in woodbridge, new jersey as shoppers are hitting the mall how busy is it not real busy at this point, but only two main anchor stores are open in the mall they made a conscious decision to close things down overnight for some other retail heres to build some excitement and enthusiasm all of this to combat online spending which has tripled some brickandmortar stores over the last several years we know there will be big bargains in the stoerts. Y stores. They are advertising huge savings on big ticket items. Most of the top retailers are expected to cut prices by 37 on average. Some of the things that people will get the best bargains on include electronics, appliances and jewelry. Average shopper expecting to spend 970 this Holiday Season overall spending for november and december could top 680 billion. The biggest holiday gift this season could be for retailers. Theyre looking to strengthen their position and Online Shopping expected to be up 10 over last year i know its still quiet, i wonder what the lines are doing outside. I wonder how many people are lining up there. Have a fantastic and safe day. Before we wrap up the show, quick look at u. S. Futures and how theyre faring after we were closed yesterday for the thanksgiving holiday now were coming back maybe with a bit of a hangover from all that turkey and gravy and cranberry sauce. The nasdaq up by 2 points after it hit a record on wednesday the dow jones down a bit, and the s p up by 0. 8 points trading has been thin on this side of the pond the ftse off by 0. 3 the xetra dax is up by 11 points after the ifo hit another record high the cac 40 is supported by the likes of danone, which are benefiting from the fact that china cut import tariffs for some consumer goods. The ftse mib is up by a half of a percent. The euro is on track for a 0. 5 gain against the u. S. Dollar this week. This is because there are concerns about the inflation outlook in the u. S that put pressure on the dollar. Thats it for todays show im carolin roth Worldwide Exchange is up next. See you next week. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. For years, at t has been promising fast internet to Small Businesses. But for many businesses, its out of reach. Why promise something you cant deliver . Comcast business is different. We deliver superfast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than at t. We do business where you do business. Black friday is here battered retailers have a lot riding on todays critical shopping event were live at Stores Across the u. S. To take the pulse of consumers. The competition between Big Box Stores is tougher than ever. Who has the best deals and what does that mean for their performance . And the cost of fraud. The sneaky ways retailers are checking your data to fight their losses its friday, november 24, 2017, Worldwide Exchange begins now