The eus Top Court Rules that uber is a transportation service, not just a digital provider the company says it wont change how it operates in most countries. Enerthe innogy ceo resigns a profit warning and more pain for steinhoff, shares plunge again as the retailer faces a credit squeeze after accounting troubles. Uber is a taxi company, so says the europeanjustice after a landmark ruling. The definition of uber as a Transportation Firm rather than a tech Company Means it will have to comply with european transport law and regulations in eu Member States the app has responded by saying it does not believe the ruling will change how it operates on most of the continent and says it agrees to regulate services such as uber we are joined by peter woodhouse. Does this indicate uber has to be taken off the road as you have indicated in the past i dont think it needs to be take be off the road it has to focus on regulatory requirements there are further wrangles dealing with employment field and the working status of drivers. This is a slightly separate strand theres another battle that they have to face in the uk they faced pressure from the transport regulator here in the capital city of the uk over whether they will be subject to these regulations while uber is in the eu, is the uk one of the most Challenging Markets for them the uk is a Challenging Market i dont see when the uk comes out of the eu that the Regulatory Environment for a company such as uber will significantly change many of the regulations are imposed internally, not externally in any event. So, yes, its tough. I think it will change post eu brexit do you think regulator also jump on this decision immediately then i think the regulators across europe have been watching closely. Im not anexpert on law outsid the country. I would anticipate that regulators and many other European Countries are going to be pleased with the results. And they wont be able to regulate in further detail what uber and related companies do in the marketplace. What does the decision mean for the relationship between uber, contractors, employees theyre going to have to be, i suspect, rather more tentative. I think my own personal perspective from what i read in the media is that uber has been trying to engage more increasingly positively with the regulators and the people who drive for them they present themselves as a business that is advantageous to all. They may now need to focus on actually demonstrating the benefits for all, rather than the owners of the business is this essentially now a pr battle that theyll have to wage more effectively than in the past under new leadership . Yes under all this, one has the understanding that uber provides a service that the market wants. So i suspect both sides of the debate will have something to say. Peter woodhouse, thank you. Lets look at trading across europe looks flat across the board. You can see green matching quite nicely with red. The stoxx 600 down very, very, very slightly so far this morning. We look at the specific markets across the continent, we can see ftse trading up slightly, as is the xetra dax in germany the cac and the ftse mib trading slightly into negative territory. We look at the sectors to see whats going on. Basic resources are up strongly, as are autos you can see that telecoms are down almost a third of a percent across the continent so that seems to be one of the major drivers of that flat market in terms of balancing things out lets talk about tax bills in the u. S. The Senate Passed the 500 pa page 1 1. 5 trillion republican tax bill by 51 votes to 48 the result was met with a muted response by tired senators as all republicans present voted yes and all democrats voted no Vice President mike pence and Steve Mnuchin watched over the vote which protesters disrupted on several occasions speaking after the decision, Mitch Mcconnell said it represented the start of a new economic era in the United States after eight straight years of slow growth and underperformance, america is ready to take off. With this tax reform america is ready to Start Performing as it should have for a number of years. Mitch mcconnell as excited as ever there that unemotional response to the vote in the senate contrasted with the house of representatives. But the joy was short lived, a procedure issue means everyone will have to revote today or tomorrow paul ryan said how important he thought the vote was heres what it will take to get america back on their feet heres what it will take to help people struggling. Heres what it will take to get the economy out of the malaise for the last decade to hit true growth were doing it today this is the greatest example of a promise being made and a promise being kept as to how that promise is being received by the public in the United States, a new poll shows just 24 of americans believe the republican tax plan is a good idea 41 think its a bad idea. A Strong Majority expect the bill to help wealthy people and corporations rather than the middle class. Portuguese bond yields crept up slightly after hitting the lowest level in 2015 after a two notch upgrade from fitch it lifted the Credit Rating to triple b fitch cited portugals shrinking debt to gdp ratio as a reason for the shift, which means the country is poised to return to major Government Bond indices. Essentially this is mostly about successful Debt Management by the portuguese authorities, isnt it its not only that. Its successful Debt Management but there are three areas of credit that we think improved a lot. Public finances, they have improved but not only that, also external vulnerabilities have declined significantly. Portugal will run its fifthyear of current account surplus this year thats due to stronger external competitiveness to the portuguese economy on top of that, theres the banks. We think Financial Stability risks in portugal have moderated. Thats the result of a shrinking and nonperforming loans. Lets talk about their neighbor im off to barcelona later today. You last reviewed spains triple b rating in july, thats despite all this political upheaval. Catalonia is on a negative rate watch what would have to happen in catalonia for you to reconsider things about spain on a whole . Thats a good question. Spain is on a positive outlook we have not changed that despite the recent catalan crisis. We have elections tomorrow in catalonia. They are too close to call but our baseline is that no matter what the result will be, it will be quite messy in catalonia. There will be rising tensions between the Central Government and the catalan Regional Government what would cause you to rethink your position on spain as a whole for us, well be guided by the impact on spanish fiscal stance so far the data is encouraging theres a clear slowdown in catalonia, but this is being compensated by other parts of spain. I was in ireland whereone regulator i spoke to warned about warned about some bubbles developing there theres the potential challenges about brexit and crossborder trade. Do you think the governments efforts to pay down debt are enough to justify the current Sovereign Rating yes, we do. Ireland has been on a positive rating trajectory for a while. We did upgrade last week to single a plus. That was the first upgrade of ireland. Youre not worried about a bubble we noticed that the market has recovered. So far it was concentrated in dublin overheated you mean we were worried about overheating. Recent data seemed to suggest the Housing Market recovery brought that up to other parts of ireland there are some supply issues in ireland that have not been that way, housing supply issues our information is that we dont believe at the moment there is a bubble theres some things in dublin, but on the whole in ireland were quite confident were not at bubble stage yet. I mentioned brexit, im sure most viewers hear about brexit, but in the uk, is that something you waf in tetch in terms of th rating absolutely. The december agreement in our view is positive, yes, because it has opened up the second part of the negotiations. But there are still a lot of unresolved issues. The irish border, the trade deal, and even whether there will be whether there will be a new transition deal, and on what terms those are issues that will be hard to settle, to negotiate, they will strengthen further uk domestic policies. You have been talking up prospects in your notes and ratings for the european economy generally. In the past 6, 17 years, ratings agencies have had criticism over the years when it comes to countries like greece and spain. Now were in this period of quite a lot of optimism, what can you say the ratings agencies such as fitch have done looking forward to the next possible correction or bull market . There is a lot of divergecy ratings, talking about the eurozone specifically. Divergency ratings have shown we have learned some lessons. Weve been criticized in recent years because we have not upgraded enough in the eurozone. But we did not upgrade many countries because now we are very much focused on the fundamentals we are guided by our Sovereign Rating methodology, very closely when we take ratings actions portugal, it took a while to get last week was the first upgrade since the Sovereign Rating crisis. Wove been under criticism that we should have acted earlier i think you will see ratings being stickier Going Forward and we will try really to look much more closely at the vulnerabilitieses, both on the external analysis, which is something in the past we did not do that, this led to some screw ups as you say in Sovereign Ratings before the crisis. Now were confident our ratings better reflect the economic fundamentals across the eurozone, and this is supported by research that shows that is the case thank you very much if you have any thoughts on this, email the show. The address is streetsignseurope cnbc. Com and you can tweet us at streetsignseurope cnbc coming up, well hear from the ceo of ge m am mshggemmalto stay tuned cannot live without it. So if you cant live without it. Why arent you using this guy . It makes your wifi awesomely fast. No. Still nope. Now were talking it gets you wifi here, here, and here. It even lets you take a time out. No no yes yes, indeed. Amazing speed, coverage and control. All with an xfi gateway. Find your awesome, and change the way you wifi. Welcome back to street signs. Shares in innogy are trading higher after chief executive peter terium stepped down. His departure comes days after the energy firm cited a profit warning. British construction firm, carillion opened higher after appointing andrew davis as ceo he will assume his role in january. This means Keith Cochran will step down from his temporary position. Steinhoff tumbles lower. The latest sell juf coaufsellof 10 billion has been wiped off the capitalization since discovering financial irregularities in its accounts the chairman of the London Stock Exchange will keep his job after an activist investors efforts were voted down to remove him tci wanted Donald Brydon gone. Only 20 of Share Holders backe the measure. Tci says the voete constitutes a serious rebuke of the board by shareholders stada says a domination and profit and loss transfer agreement has been settled following the takeover of bane cinv cinven iliad shares trading lower after the Telecoms Company announced they were buying a stake in irelands company eir iliad will own a third of eir. The deal implies a value of 3. 5 billion euros. Shares in gemalto surged after a deal to create a Global Cybersecurity powerhouse with thales philippe vallee, the ceo of gem ma gemalto joins us the french state owned bank is your second largest shareholder, is this combination about French National security . I would say this is more important for me to consider the initial project, which is offered by this combination. We are solving many customers problems across the planet for me this is important to see how the strategy of gemalto can be pursued this is not about french consolidation but acceleration for the gemalto strategy how much pressure have you faced from the french government to make this deal happen i have not received any pressure at all, to be very clear. Weve been discussing in an amicable way with the ceo of thales over the last few months, and we accelerated the process lately im glad about announcing this combination. You described the rival atos bid as weak, but it was only a half billion dollars less than the one you accepted from thales can you explain why you went with thales over atos . This is due to the amount received from atos, and that the board rejected it said they were not taking enough value of the company and also other stakeholders, and the fact that the company would be integrated in different parts and pieces, which would force us to pursue our strategy on the other end. What thales put on the table is something preserving twhat gem ma gemalto is about the 12month share price looks like your stock took a giant nosedive this year, halved over the course of six months. Your stock is closing near the offer price of 51 euros. You guys opened yourself up to a takeover when they saw this as a cheap bargain. Isnt that the case . The idea was to look at the best options for gemalto, the company suffered a bit due to the elimination of one of its markets. The business serving the mobile operator now with this approach we have, i would say, a Better Future we have a solid platform you will still be cutting jobs in the business what do you need to do to turn that struggling business around we need to add just the cost base of our businesses that business is going through a certain transition between the old approach to connect mobile, mobile devices and people to a new one. In particular serving the connected areas. The mobile carriers are concentrating on the next generation and that market and that Business Needs an adjusted work force and resources. Thats the reason why we are restructuring efforts in this specific market. Mr. Vallee, thank you very much for joining us today. Thats philippe vallee, the ceo of gemalto minneapolis fed president Neel Kashkari reiterated his call to wait for higher inflation before raising u. S. Interest rates speaking to cnbc, he warned house dangerous it is when the fed attempts to interfere with stock markets. We do talk about asset prices quite a bit. We look for signs of financial instability. I would say the way i think about it, if we raise Interest Rates, not because of the job market, not because of inflation, but raise Interest Rates to try to constrain the stock market, that can be very costly remember in 1996 then fed chairman Alan Greenspan said theres irrational exuberance. The stock market climbed strongly until 2000, until there was the tech bubble bursting i think those Interest Rate increases that chairman greenspan would have imposed would have been costly to the economy, more costly than the correction itself in 2000. From my perspective we need to segment whats a stock Market Correction and thats investors problems, versus sick thomethin will lead to Financial Stability like 2008. We need to work hard to protect against an o08 scenario. That was Neel Kashkari. The bank of japan started its final policy Board Meeting for this year. It will keep Monetary Policy unchanged. The Central Banks twoday policy Board Meeting will go on until thursday if it maintains the current policy, it will be the first year the bank has taken no action since governor kuroda took office four years ago since his first policy move in 2013 where he injected massive amounts of liquidity into the system, he has taken easing measures in each of the following years. So the lack of additional steps by the boj this year can be taken as a sign that the economy and Financial Markets are in better shape than before exports are growing steadily due to recovering markets overseas and Japanese Companies are enjoying record profits and increasing capital spending. The improving employment rate is beginning to cheer consumers all this has raised the expectations that the bank may raise Interest Rate targets next year but the boj will likely find no reason to tighten Monetary Policy, even slightly, unless Consumer Prices start rising faster improved Economic Conditions have put upward pressure on prices, but the rise was a mere 0. 8 in october which is less than half the banks inflation target of 2 the boj believes inflation will remain sluggish unless japanese firms become more willing to raise wages and prices and decided that it should keep the ultra easing Monetary Policy until that changes kuroda is widely expected to be reacquainted when his term expires in the spring next year, so the boj will continue its current course into 2018 thats all from the nikkei back to you. Thank you very much coming up, the u. S. Senate worked late into the night to pass trumps tax bill, a glitch means the house needs to vote again. Well explain the twists and turns from capitol hill after this break the conference report is adopted. Without objection the motion to reconsider is laid upon the table close but not done yet. The Senate Passes the tax reform bill, but a procedural glitch sends the legislation back to the house likely for another vote today after eight straight years of slow growth and underperformance, america is ready to take off. With this tax reform, america is ready to Start Performing as it should have for a number of years. The eus Top Court Rules that uber is a transportation service, not just a digital app provider, bu the company says it wont change how it operates in most countries. Innogys ceo peter terium resigned amid a profit warning shares rise on the news and take Parent Company rwe higher. And more pain for steinhoff, shares plunge again as the retailer faces a credit squeeze after its accounting difficulties so we had a pretty negative end to the days trading in the United States overnight, but now looking at the open in a few hours time the s p 500, dow jones and nasdaq look to be opening up with the dow jones up 96 points. If we look at the european markets, theres a little bit more red on the board. The ftse 100 trading slightly into negative territory, as is the xetra dax and the cac and as is the ftse mib in milan the euro is trading slightly stronger against the dollar. The dollar slightly up against the yen by a fifth of a percent. The pound recovering slightly against the u. S. Dollar and the dollar trading stronger against the swiss franc. Lets get back to the tax bill the Senate Passed the 500page 1 1. 5 trillion republican tax bill by 51 votes to 48 the result was met by a muted response by tired senators as all republicans voted yes and all democrats voted no Vice President mike pence and treasury secretary mnuchin looked on over the vote. Ed lawrence joins us this morning. Im sure you have been watching this overnight i wanted to ask about that procedural issue its complicated on this side of the atlantic whats going on . The two houses there the house of representatives and the senate have to pass the same bill so it can go to the president s desk it was supposed to be easy passing the house of representatives, the senate was to be the closer vote, but the senate voted first on this the way the bill was written, it would have required more than a simple majority. Thats more than the republicans have in both the house and senate it would have required a super majority they went back and tweaked it a bit. That revote happens today. It was a procedural issue. Nothing vb having to do with support for this bill. Republicans believe this vote will happen today. The president tweeting out after the vote happened in the senate saying that there will be a News Conference later today at the white house once the house passes this bill we expect it to pass the house later this morning you could look at this as the culmination of everything paul ryan worked towards during his political career how do you ordinary americans feel about this bill you know, americans are skeptical about this bill. Theres a new poll out that shows 63 of americans believe this bill will help corporations and the wealthy. 22 believe this will help everyone now, republicans are okay with these numbers, because they believe once americans get their paychecks and see less taxes taken out of the paychecks and more money in, they believe those poll numbers will turn around republicans saying that the Corporate Tax rate being 2 1 will not only help u. S. Corporations compete internationally but bring other corporations from other parts of the world into the United States lets see if the Economic Growth projections turn out to be true. Ed lawrence, thank you very much the u. S. Has asked the u. N. Security council to black list Ten International ships for violating sanctions on north korea. The ships seem to be transferring Petroleum Products to north korea vessels the black listing means global ports will prevent those ships from docking the Trump Administration is now publicly blaming north korea for the Wannacry Cyberattack the accusation comes amid growing worry about rising tensions in the korean peninsula. Richard engel has more on how the north korea question will affect the next Winter Olympics. Reporter its not just north Koreas NuclearWeapons Program the white house is warning about. Today accusing kim jonguns regime of launching a massive cyberattack dubbed wannacry. That crippled 300,000 computers in 150 countries, including banks and hospitals. We do not make this allegation lightly but with evidence and partners. Reporter those partners clinding t i including the British Government went public before the u. S a few weeks ago at Silicon Valley headquarters of Security Firm symantec, we met the engineer who first uncovered north korea was behind the cyberattack. Is it like a nuclear test like blowing something up to show that you can do it . This is the equivalent of that in the cyberworld basically demonstrating your power and ability. Reporter 6,000 miles away in south korea today, president moon jaein told us his nation set up a special unit to protect the upcoming Winter Olympics from hacking right now south korea and u. S. Are working very closely in preparing for any attempts, he said president moon spoke to us as he inaugurated a 3. 4 billion bullet train to the olympic venues he said the games with athletes from the north invited can be a path to easing tensions. What message are you sending to the world with these games the Korean People will be able to send a message of peace to the world he said. President moon said joint u. S. And south Korean Military exercises like this one today may be put off for now president moon told me he raised possibility of postponing the exercises if north korea stops what he calls its provocations he said the u. S. Is considering the option the u. N. General assembly will hold an emergency session on thursday to vote on the white house decision to recognize jerusalem as israels capital. The u. S. Earlier vetoed a Security Council resolution to withdraw the declaration the majority are expected to support this resolution, which would further isolate the u. S. On this issue. Nikki haley warned she would be taking names of all countries that vote in favor and report those names back to president trump. Saudi arabia has shot down a Ballistic Missile launched by yemens rebels these pictures distributed by the media have not been independently verified by cnbc there were no reports of casualty or damage the houthis say the missile was aimed at saudi rebels. Saudi Coalition Air strikes killed 136 noncombatants in yemen since december 6th saudi arabia will boost spending to 2 261 billion in 2018 in what riyadh calls its biggest ever budget that conflict in yemen soaking up a lot of its cash the kingdom says it will put the money towards Infrastructure Projects and privatizing certain sectors. The country pushed back the deadline for eliminating the deficit until 2023 translator we are announcing this budget as the largest spending budget in the kingdoms history. Given low oil prices, we will continue to grow and develop towards achieving our 2030 vision methifid 2 rules are expecteo come into implementation this january, but missing the january 3rd deadline nick, a couple movpsnths ago you said there was a palatable panic over some industries about these rules. Is that panic settled . A little bit. This gets as big and bad as it gets for european markets. Theres a lot to do, a lot for firms to complete by january even though we got another year, the commission gave an extension of a year, theres a lot of work to be done before that deadline. We heard recently that some firms could escape enforcement as long as they show sufficient steps have been taken. That sounds pragmatic but a bit soft, doesnt it you have to read between the lines. There will be areas where the fca will want firms to be ready. Transaction reporting where the regulator is using that information to track down market abuse and police the markets is an yir whearea where i would not recommend firms not to be ready. In other areas the market is complicated, and the pricing is still evolving i think firms have a plan, a way forward, and they can demonstrate if the regulator turns up that theyre well on course to achieving compliance we had a senior Compliance Officer on earlier he was concerned about getting leis in order. If you dont have that done now, you have no one to blame but yourself the regulators have been clear you cant trade if you dont have an lei, but its not difficult to get one may be now, because there will be a huge logjam. They should be available at a modest cost. With all this new information that regulators will have available, what will that allow them to do that they werent able to do before . The quality of the surveillance should increase significantly. What does that mean . They can identify the clients behind the firms previously its been knowing trade a trades against firm b. It means writing to the banks and asking who clients are now theyll know and theyll link up people trading here, trading through different brokers to make sense of whats going on in the markets. What kind of risk do you think the pools rep send and mifid iis caps, will that reduce the risks its not the way i would have done it. I think its a blunt instrument to cap it. They basically set the cap at the current levels in the markets. I think theres better policy approaches i think it will cause problems in january stocks will cap out and we will see confusion where people can trade the stocks some academics think maybe 15 , 20 is a threat. You were involved in some of the ideas, in terms of background, were these driven by customers, regulators, both . And longterm what will be the impact of the fact it was driven by one side or the other mifid ii is huge. They have been able to throw the kitchen sink at this theyve been able to put everything they want to in this legislation. So some of it is driven by a general desire to prospect investors better and sure up the markets. I think the fca supports mst of what most of whats in there. Do you feel sorry for some of your colleagues given they have to work on introducing this and at some point maybe unpick it all in a few weeks time, few months time, few years time . Who knows. As usual, the uk is one of the small number of countries that got this in on time we implemented it, and now were leaving the party. I think it is disappointing. Not disappointing, this is a resource challenge theyre not a well staffed agency no one is denying that this will make things complicated. Its not producing anything other than mapping across all this legislation into uk legislation. Its not productive really in that sense nick bailey, thank you. You can head to cnbcs online mifid ii portal to read about how the regulatory changes are likely to impact your businesses and investments. You can email us about this, streetsignseurope cnbc. Com or you can tweet us, we are streetsignseurope cnbc you can also tweet me directly coming up, social media snafus a panel of experts will join us on set to discuss how companies can ensure employees dont share market Sensitive Information online you have been warned some air fresheners are so overwhelming, they can. Send you and your family running. 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. And im the founder of ugmonk. Before shipstation it was crazy, like. Its great when you see a hundred orders come in, but then you realize ive got a hundred orders i have to ship out. Shipstation streamlined that whole process. The order data, the weights of the items, everything is seamlessly put into shipstation, so when we print the shipping label everythings pretty much done. Its so much easier so now were ready, bring on the orders. Shipstation. The number one choice of online sellers. Go to shipstation. Com tv and get two months free. Welcome back to street signs. Bitcoin has suffered its sharpest losses since futures trading started with the cryptocurrency losing 1,000 in under an hour at one point during late trade. A number of reasons were cited for the move downward. The news that coinbase will start trading a rival Digital Currency its hard to keep up south Korean Bitcoin Exchange is shutting down after being hacked for the second time in a year. 17 of the assets were stolen. A new cnbc poll looks at what the public thinks about bitcoin. Steve liesman has the details. Reporter if it seems like the nation has gone bitcoin crazy, its because they sort of have 66 of the public have heard something about bitcoin, thats up 20 points from when we first asked the question in 2014, when we asked if you heard a lot about it, just 22 but thats higher than 2014 when 13 heard a lot about it what do they think about it . 6 say its now an alternative to the u. S. Dollar 31 say it never will be but 38 say, hey, one day it could be or will be an alternative to the u. S. Dollar but there are big differences in the public sort of a Digital Divide when it comes to the cryptocurrency. Those who are younger are much more likely to be positive on the outlook for bitcoin and uses older folks, those 65 and old, just 20 are democrats, more so than republicans. Wealthy folks much more so than those in the lower income. 34 say it has a future for the bitcoin currency so if it seems like the nation is crazy on bitcoin, its because they are there still seems to be a way to go to have the kind of standing to be a real currency. Steve liesman, cnbc Business News its not just the u. S. Crazy about bitcoin. For more on the volatile moves in the krcrypto world, head to cnbc. Com. A number of the worlds leading companies have been forced to issue profit warnings after suffering data breaches in recent months. Its not just cybercrime thats a digital threat a number of employees may be putting their companies at risk by sharing compromising information on social media. So says kitty perry and tim hazen who also joins us. What is your Product Offering companies . Were seeing employees often inadvertently posting photos and selfies on instagram, frequently public, because theyre unaware they need to make it private and want more followers. These images, 93 million selfies taken a day, these images often have data in the background. Theyre not thinking about what might be behind them, whether its a screen, notebook or white board that information going out on to the public internet can be used by hackers, regulators are seeing it. So we have a machine algorithm that looks for these photos and takes them down. Can enable hackers, can is the key word has it we interviewed a number of hackers. The hacker of the year last year, friendly hacker, she said that the images are being used because you can increase the resolution relatively easily whether youre looking at passwords or inboxes we often see. Sometimes people take photos of screens with postit notes at the bottom with passwords. So pretty easy information to get ahold of in terms of corporations has may be suffering reputational damage, financial, economic damage what can they do . The key is to put in place a comprehensive social media policy setting out exactly what kind of conduct your employees are expected to abide by not just to have that social media policy, but to ensure that thats given out to employees, and that they know what is expected of them also to train them to involve them in the drafting of that policy and make sure everyone is aware of it. Do you think some firms have a duty of care to lay out the legal ramifications . Its one thing having a corporate policy, quite another po say you cou to say you could be prosecuted for this behavior. I think its helpful for firms to set out exactly what the ramifications of social media failings could be. Ultimately this is dealt with as any other disciplinary situation at work, there will be consequences its all very well having a policy if thats hidden away somewhere, youre not involving employees in how thats been developed, youre not making sure theyre aware of responsibilities, thats a failing on behalf of the corporation. Your product is focused on misadventure by individuals impacting companies. Often its the companies and their i. T. Departments that have failed have you look the into ted inton argentina and what happened, its embarrassing. Is it more about corporations focusing on their own policies it is i think corporations will require individuals, social Media Networks to build their own brands theres one bank whose brief to us is we want our staff to be social media advocates of us on their personal network thats where this causes a nightmar nightmare. People push back saying i dont want to do free advertising for my company sometimes for the smaller firms and people, they are proud of what they do, where they work the issue to tims point is the data says 71 of staff are not reading the policies, and they say its my personal life. Its making work life more fun as we see with the google world and so on. Thats when people buy into the culture, then they want to behave well. With that they understand the consequences of what can go wrong and how. Often their minds are more tuned to making sure they dont make those mistakes tim, one final question it seems one other challenge when people say this is my personal life is this idea of freedom of speech versus a companys right to regulate behavior if it impacts them. Whats the legal fine line in this country absolutely. Theres a fine line between freedom of expression and expressing a legitimate opinion and having that personal space on one hand whilst also not crossing the line and making sure what youre doing online is not offensive, derogatory or discriminatory were all human. Its an easy mistake to make, but you have to be aware in this online world, the things you post online will be seen how often companies when they have made a decision, how often are those decisions held up by employment tribunals, for instance increasingly over the last five years a lot of cases have reached the tribunal its all situational whether a dismissal because of what someone has done online is judged unfair will depend on the facts specific analysis. I will probably leave it there. Im sorry. Thank you very much. Tim hayes and kitty parry, thank you, interesting conversation. If you wanted to check in what happened when cnbc called elon musks cell phone after he accidentally posted his number on twitter, please do head to our website. Uber is a taxi company, so says the european justice which will influence the way the firm operates in europe it will have to comply with european transport law and National Regulations in euMember States thank you very much for joining me today im willem marx here in London Worldwide Exchange is up next. Breaking news. The Senate Passes a landmark tax reform bill sending it back to the house for a final vote were live in washington with details. A big blow to uber the eus top court ruled the ride hailing giant is a transport firm well tell you what this means for the future of the currency and a wild swing for bitcoin a breakdown of what happened straight ahead its wednesday, december 20, 2017, Worldwide Exchange begins right now