Evolves. Well have to be careful for how that goes for france. A crude reality for bp investors. Shares sink after earnings hit a tenyear low, as the oil giant misses expectations with profits falling for a second consecutive year. Fiat chrysler says his vehicles are fully emissions compliant. And chinas fx reserves drop below 3 trillion for the first time in three years despite trying to stem the currency outflows. Hi everybody. Good morning. Welcome to the show. We have an hour together. Its good to have you with us. I want to kick off with some flashes. The iranian Supreme Leader is responding to President Trumps recent statements with regards to iran. Hes stating no enemy can paralyze the iranian nation. Hes saying that trumps demands that iran be afraid of him but irans response is no. Hamani also showing iranians will show their response to trumps threats on friday, the anniversary of the 1979 revolution. This on the back of the Ballistic Missile the iranians tested. They say it did not go against the u. N. Resolution that was put in place. The u. S. Says it is a violation of that. Well continue to watch that. European equity markets. Were an hour into trade. We were slightly mixed on the open. A bit higher at the moment. Just sitting steady at the stoxx 600, and were seeing that reflected in the European Equity marke markets. Ftse, xetra dax, cac 40, ftse mib all higher. The french banks, too. The french banks are bucking the trend to the down side. Not seeing gains. Youll notes likes of bnp paribas lower. Fullyear revenues rose by 1 despite a lackluster market in 2016. Net income was up by 15 from the Previous Year at 7. 7 billion euros. The french bank proposed a dividend of 2. 70 euros per share. Lets get the details on this nancy joins us from paris. Investors trading bnp paribas down substantially. What are they focusing on . The big factor sis on the Fourth Quarter income figure which fell shy of expectations. As other analysts point out at ubs, on an underlying basis this was a beat. Part of the strength in the net income coming from the corporate and Institutional Banking segment. This apart from the retail segment which continued to show weakness both on revenues declining right here in france and also at the italian unit as well. Perhaps investors were hoping to see the Retail Business pick up a bigger share, boosting domestic markets which has been trailing the performance on the cib for quite some time now. Nevertheless, performance over the full year was strong. Investors are also honing in on the outlook, the big 2020 plan that bnp paribas unveiled yesterday targeting r. O. E. Of 10 that fell shy of expectations. First and foremost, looking back at the year that 2016 had in store for bnp paribas, i asked the ceo whether he was concerned about diverge against between the cib and the market. You look at the total bank, the year, 2016, started in a lackluster way. So the bank has evolved quite strongly during the year. If you look at total bank, top line is up 1. 1 . Interest rates are in the low areas. Our cost of risk improved well by 14 . Costs remained under control. In the end we clocked in at 7. 7 billion euros, which is up 15 . At the same time we have a di dividend of up 17 compared to last year. Thats how the bank performed. When you look at the breakdown by divisions, does it concern you that the french retail side within domestic markets is still lagging . If you look at our businesses, cib has been doing well, domestic markets, when you look at the loan volumes have been doing well. Theyve been growing loan volumes in all of their areas. Its true if you look at france, there is a bit of an impact of the low rates environment. It is true. That has improved during the year. We see loans pick up again during the year. We have 4. 2 growth in the last quarter. To be frank, one of the other things that weighs on what we see is that the stock markets have not been very positive. There has not been necessarily a lot of activity going on. Well have to look how that evolves during the year 2017. I would remain careful when it comes to guidance for france. The bnp paribas cfo striking a confidence tone on some results, including the reduction in risks overall. They have a plan to reducing costs. But he did strike a cautious tone on the domestic markets saying they have to keep careful watching the guidance here in france. He did not mention specifically the politcal risks, but i asked what the bank was doing for political surprises coming up in the election. When everything happens, typically there is time in which things unfold and we are adaptable. If we go back to the brexit topic, there is things changing. We are a european bank. We do have clients in the uk. And for us the most important thing is to keep serving unit clients. Well see how these things unfold and see if we have to do changes on the fringe to continue to serve those clients. That question is applicable everywhere. We will continue to stay adaptable. Thats the message coming from bnp paribas as we approach a big election season here in france. Overall investors will be perhaps taking a look away from the results this morning and focusing on that 2020 plan. Analysts from ubs saying again overall that r. O. E. Target of 10 may be below some expectations, but these are made on conservative consumptions, and Lars Machenil saying they are staying on guard for political activity. But they are confident that theyre moving towards a new Investment Plan that will continue to reduce costs for the bank going forward. It appears investors remain unconvinced this morning. Back to you for now. Great stuff. Behind you, it looks like the eiffel tower is cut off because of the fog. Yes. I know. Foggy, rainy day here. Like half an eiffel tower. Nancy, thank you very much. Well chat very soon. Shares in bp trading lower after Fourth Quarter underlying replacement cost profit fell below a millions, missing forecasts. The Lower Oil Price weighed on the numbers. Bp said it expects 2017 Capital Expenditure to be 16 billion to 17 billion. We spoke to Industry Analysts after the earnings to get their reaction to the numbers. Bshgsz p wip has to figure oy will pave their way in the world with 55 oil, the answer is they cant. And theyre keen to try to lift their skirt and tell you what they got from a production and Development Aspect specifically. But these numbers today in hand have to be deemed disappointing. Most of the pure companies have taken the break evens down to 50 or less. Bp does stand out. They reference having to make more investments in some portfolio additions they made over the course of the last quarter or so. If you talk about a 60 break even, on our forecast or using future strip that means they would not be breaking even in 2017. Statoil missed forecasts in the Fourth Quarter as 2. 3 billion impairment charge weighed on its earnings. The Norwegian Oil giant posted a net operating loss of 1. 9 billion, against expectations for more than 2 billion in profit. Statoil is keeping its dividend policy saying it will spend the same amount on Capital Expenditure this year. Tim edwards us with us this morning. Very pleased you are here. Talk to us about what weve seen in earnings so far and a whole bunch of Companies Reporting this week. You say 70 s p 500 Companies Report on the 7th of february. Around the next three days a third of the index reporting. From what weve seen so far, the broad picture is so far so good. Weve seen around twothirds of Companies Beating estimates. Not too exciting, companies very good at beating estimates and managing down expectations. 5 Earnings Growth verses a year ago, 8 . So far so good. Particular areas that stand out. For example, financials. Yes. Financials have been doing well and also have the potential to do better. That is a trend related to u. S. Regulation and potentially taxation. So financials so far have been reporting good earnings. Thats highly encouraging for the markets. On the less impressive side, we just have been talking about, the energy companies. They have disappointed. That uptick in the oil price we saw for much of last year has very much softened and the trend diminished. Were not seeing great earnings reports from the energy companies. Why do you think it is theres so little volatility . So one of the really interesting things about the markets at the moment is how much news there seems to be, how much excitement there seems to be and how Little Market volatility there is. This is true for europe and the u. S. Also true in expectation terms. So the vix, which is our forward looking measure of volatility is very, very low. One way to think about this is to understand that in the current environment there are winners and losers being created all the time. Individual companies are moving around just as much as they usually do. Whats missing is the thing tying them together. That correlation. So with that, as Interest Rates move up, as it is differentiated set of risks and opportunities, we see a lot of Stock Movement but at the market level its all canceling out. Its the power of diversification. How does european volatility compare to what weve seen in the u. S. . You see a similar story. Part of it is driven by strong spreads in sector performances, part driven by spreads in countries, different currencies. Winners and losers. When you drill down and look through a microscope at an individual company, theyre moving around. When you zoom out and look at the overall market, you see low volatility. There is something of an exception to this in europe where there are a lot of concerns coalescing around late march early april, which relates to the french election. You read my mind. We have seen a jump in french yields or an increase in french yield yields following polls that say le pen could be a follow up to macron or fillon. Do you think the safe haven is buying u. S. Treasuries again . Youre taking a risk there. I think german bonds will be the safer option. The interesting thing is going to be will this play out similar to the comparisons that you can make, populist movement, populist national movement, polls are all wrong. Maybe a lot of fear leading up to the election. If its anything like last time, that fear will collapse and compress no matter what the result is. In that i think looking at french and german bond spreads is an interesting indicator. Looking at european volatility and looking at the european currency, the euro is also going to give you a sense of how much concern investors are building up around these events. Okay. You segued into a currency chat. Stay with us, so we can get back and talk more about currencies. By all means get involved. Many of you always get involved too late. I already have gone home. I cant do the show from home. The address is streetsignseurope cnbc. Com. Or also find us on twitter louisabojesen. Im happy to incorporate any questions or questions that you might have. Coming up here on street signs, hitting top gear. Honda and Hitachi Announce plans to collaborate on electric vehicles. Well hear what is driving the deal in a couple of minutes. Also we will be talking more about disney and cybersecurity. King arthur ready washington charge empress wu charge in chinese king arthur charge let your reign begin. Evony, the mobile game. Download now. Good morning. Welcome back. Youre still watching street signs. Im louisa bojesen. Pandora shares hitting the bottom of europe after warning of a slowdown in 2017 revenue. This is the danish jewelry maker. They expect a 13 to 18 rise in revenues this year. This as pandora expected an increase in net profits in the Fourth Quarter and announced three extraordinary dividends. Fiat chrysler shares are selling off after french investigators referred the automaker for a possible prosecution over diesel emissions. A spokesman for fiat is saying its vehicles fully comply with emissions standards and it was ready to cooperate with authori authorities. And honda teaming up now with hitachi to jointly produce motors and catch up in the electric vehicles market. The nikkeis makiko has more. The two firms announced this afternoon a plan of a joint venture for electric vehicles. Honda has been long known for keeping all of its r d in house, but as the focus shifts from engines to electric vehicles, it was struggling to stay in the race. And hitachi started out as a motor maker. Washing machines said to use the same technology are extra durable. Drawing in an established motor maker, honda hopes to have a new line by the end of the year. They hope to increase profit by selling motors to other auto makers as well. Honda said that by 2030 around twothirds of all honda cars sold in markets overseas should become electric, including hybrid vehicles. That explains how much importance the firm is placing on this tieup. Hitachi is uniquely positioned as a parts supplier since it is invested in batteries, autonomous driving technologies. It also shows how relationships between carmakers and parts suppliers that used to be bonded with connections are rapidly changing. Back to you. Makiko, good to see you. Thank you very much. Chinas Foreign Exchange reserves have fallen to a sixyear low. Data from the pboc show that reserves fell by 12 billion in january and are below 3 trillion for the First Time Since 2011 this drop marks the seventh straight monthly decline as capital outflows pressure continue in china. Then we have the u. S. In the u. S. An Interest Rate hike in march could be on the table. Voting fed member Patrick Harker says another increase of 25 basis points should continue. He supports three rate hikes in 2017. The u. S. Tenyear treasury yield suffered its biggest oneday slide since june. Referring to that in our chat a couple minutes ago. Investors seemingly sakie i see Political Uncertainty in europe. And mario draghi defended euro. Mr. Draghi fought back against claims from the Trump Administration that germany is manipulating the single currency. Its latest report to congress released on october 14, 2016, the u. S. Treasury itself stressed that germany does not manipulate its currency. The reason is that germany does not satisfy all three criteria used by the u. S. Treasury to identify unfair surcurrency practices. February 11th marks the First Anniversary of the socallsocal socalled dimon bottom. There has been no significant pull back in the stock since. Dominic chu looks at the biggest winners. Reporter this week will mark the oneyear anniversary of that market bottom we saw on february 11, 2016. One that a lot to of people out there call the dimon bottom, but jamie dimon bought a lot of his own stock, 500,000 shares of it on that day. His stock has been on a tear since. Like the overall market. If you look here, just since that february 11, 2016 period the market has gone up by about 25 . Had you bought the overall market or jpmorgan shares you would be looking good now. As for how the sectors have performed. The s p 500, you have some real winners and losers. On the winning side, the financials. Better by 40 just since that dimon bottom date back on february 11, 2016. The worst performing sector in the s p 500, telecom services, up by 3 or 4 . The high and the low if you will there. As for the dow overall, again, financials leading the way higher there. Look at some of these winners and losers. Goldman sachs has been a better performer among the banks, up 71 since that market bottom. Jpmorgan up 64 . American express up 53 . So mega cap, large cap financial names doing well. Since the dimon bottom. Jamie dimon made around 17 million off that trade alone. When it comes to market timing, he seems to do well. As for other banks, not too shabby. Dominic chu, cnbc. Tim is still with us. Tim edwards director from the s p, dow jones indices. Why is greece back in the headlines . The first reason is the last time we kicked the can down the road and we reached the point where the can last hit. In particular its back in the headlines because the imf, which is part of the group of people that are giving greece money has said we cant keep giving money if its unsustainable. Theres an internal debate between the imf and the european political leaders as to how strict, how loose they should be with greece and whether or not there should be an aspect of debt relief. This is a slow process. It always has been. But were coming to a trunk point around the 20th of february, we will come to continual crunch points around those negotiations is greek sustainable what do they need to do, and most importantly if the imf withdraws, will the european sovereign nations be required to themselves fill the gap and give more money to greece. That might happen in an environment where there are National Elections in many european countries. Add that together, thats why greece returned to the headlines. These National Elections, a lot of people are saying even with this taking place in greece that france is still the big uncertainty, and that this is the one that could upset european markets substantially. Do you anticipate a lot of repositioning both in debt and equity markets based on france . I think the last year or so we really have moved to a market environment where macro trends, politics are fundamental. We were talking earlier about the oil price, and what was important there is opec which is political. And these Political Trends are very much focused on france at the moment because of that risk of a surprise. There are also dutch elections. I dont think people are too excited about that. Later in the year well have german elections. Again, the potential for a surprise result. Its not zero. So i think people will be focusing on it. Excellent. Tim, thank you very much. Tim edwards, director at S P Dow Jones indices. We are taking your questions and your comments. louisabojesen if you want to get involved. Thats the twitter handle. Good morning, everyone. All popping through now. You can also find us on email, streetsignseurope cnbc. Com. World markets live is our blog that runs throughout the trading day. Take a look. Well be back in a couple of moments. Well talk more about the media sector, disney in particular, and cybersecurity. Anyone with type 2 diabetes knows how it feels to see your numbers go up, despite your best efforts. But what if you could turn things around . What if you could love your numbers . Discover oncedaily invokana®. Its the 1 prescribed sglt2 inhibitor that works to lower a1c. A pill taken just once in the morning, invokana® is used along with diet and exercise to significantly lower blood sugar in adults with type 2 diabetes. In fact, its been proven to be more effective at lowering a1c than januvia. Invokana® works around the clock by reducing the amount of sugar allowed back into the body, and sending some sugar out through the process of urination. And while its not for lowering systolic Blood Pressure or weight loss, it may help you with both. Invokana® can cause important side effects, including dehydration, which may cause you to feel dizzy, faint,lightheaded,or weak, upon standing. Other side effects may include kidney problems, genital yeast infections,changes in urination, high potassium, increases in cholesterol, risk of bone fracture, or urinary tract infections, possibly serious. Serious side effects may include ketoacidosis, which can be life threatening. Stop taking and call your doctor right away if you experience symptoms or if you experience symptoms of allergic reaction such as rash, swelling, or difficulty breathing or swallowing. Do not take invokana® if you have severe liver or kidney problems or are on dialysis. Tell your doctor about any medical conditions and medications you take. Using invokana® with a sulfonylurea or insulin may cause low blood sugar. Its time to turn things around. Lower your blood sugar with invokana®. Imagine loving your numbers. Theres only one invokana®. Ask your doctor about it by name. Hi everybody. Welcome back. Youre still watching street signs. Im louisabojesen. Your headlines. Low rates and lackluster markets hit bnp paribas results. Shares sink as the cfo tells cnbc the home market trading environment is tough. Stock market has not been positive. Theres not been a lot of activity going on. Well have to see see how that evolves during the year 2017. I would very main careful when it comes to guidance for france. Fiat chrysler insists its diesel vehicles are fully compliant after the french investigators referred them to a prosecutor for a possible probe into disease diesel emissions. Another day, another Court Hearing over Donald Trumps controversial immigration order, that as the Justice Department softens its stance in an attempt to reinstate the policy. And Nicolas Sarkozy will stand trial over allegations of Illegal Campaign financing. Hi everyone. Good morning. Welcome back. You are still watching street signs. Im louisa bojesen. Good to have you with us. Youre too late on the tweets. Thats what i told you. Get them nearly so i can use them for my guests. Theyre now gone. I will you are use those that i can in later segments. By all means get involved during the show louisabojesen, or streetsignseurope cnbc. Com. European markets are flattish. The implied open in the u. S. It also slightly mixed to flat. We saw wall street lightly lower on the close yesterday, led down by the energy sector. Oil prices falling a bit. The biggest oneday loss in oil since midjanuary. Worries about rising supplies in the u. S. And we have this opec deal to cut output in other places. So thats going on. The fx markets on top of the european markets. The fx markets, quite a bit of activity. The dollar bid up against the pound among other places. We went from 1. 2475. In cable, a big drop this morning. Volume picking up. Neil wilson from etx says people seem to have woken up to the prospect of the fed tightening quicker than anticipated. Would have noted Patrick Harker, this voting fed member, he is now supporting a hike coming through as early as march. Which is a little bit different than what the fomc said from its last meeting that we could be looking at the first hike to come this summer. Its slightly more hawkish if you listen to what mr. Harker has to say. Frances former president Nicolas Sarkozy will stand trial over allegations that he illegally financed his failed 2012 reelection bid. 13 others are due to stand trial over the socalled affair. It involves accusations of spending and funding irregularities. In trump news, the u. S. Justice department has defended Donald Trumps immigration order saying its a lawful exercise of the president s authority. A possible middle ground emerged as dov lawyers argued the suspension of the travel ban should be limited to people already granted into the country and temporarily abroad and not people trying to enter the u. S. For the first time. A federal appeals Court Hearing will rule on the policy later on today. Speaking to reporters aboard air force one, White House PressSecretary Sean Spicer said the administration was not rethinking its strategy over the travel order. Take a listen. When you look at the case in massachusetts where the judge in massachusetts clearly the law is on the president s side. The constitution is on the president s side. He has broad discretion do whats in the nations best interest to protect our people. We feel confident well prevail. President trump has continued his criticism of the press accusing the media of ignoring terrorist attacks. During his first visit to u. S. Central command headquarters, trump repeated his vow to defeat isis and claimed that western Media Outlets failed to report attacks rigorously enough. Hallie jackson has more. Reporter for a president fighting what hes called fake news its all fake news. Its phony stuff. Donald trump appearing to deliver his own today about terror attacks abroad. Its gotten to a point where its not even being reported. And in many cases, the very, very Dishonest Press doesnt want to report it. Its not clear what the president is talking about. His press secretary promising a list of undercovered instances, but no specifics about any attacks deliberately not reported. He felt as though members of the media dont always cover the events to the extent that others might get covered. A protest will get blown out of the water and yet an attack or foiled attack doesnt necessarily get the same coverage. Ladies and gentlemen, the president of the United States. The claim coming during the president s first visit to Central Command as he faces fallout on foreign policy, and his position towards russian president , vladimir putin. President trump on fox news. Will i get along with him, i have no idea. Putin is a killer. There are a lot of killers. We have a lot of killers. You think our country is so innocent . The backlash building. Im actually incredulous that the president would make a Statement Like that. One can argue thats the most antiamerican statement ever made by the president of the United States. I dont think there is an equivalency between the way the russians conduct themselves and the way the United States does. Reporter russia a growing wedge between the president and his party. The president is very into vladimir putin. No one can exactly explain why, and its dangerous because putin is working against american interests all over the world. Meanwhile in the uk, the speaker of the house of commons has said that he would oppose President Trump addressing parliament during his state visit. He told mps the opposition to racism and sexism was hugely important. Before the imposition of the migrant ban, i would myself have been strongly opposed to an address by President Trump in westminster hall. After the imposition of the migrant ban by President Trump, i am even more strongly opposed to an address by President Trump in westminster hall. The Israeli Parliament has passed a bill retroactively legalizing israeli settlements on privately owned Palestinian Land in the west bank. The move paves the way for the government to recognize thousands of israeli settlements which are illegal under international law. The legislation is likely to be struck down by the Supreme Court as it violates Property Rights rulings. The u. N. Is condemning the vote with the middle east peace envoy saying that it could have far reaching legal consequences for israel and diminish the prospects of arab israeli peace. Mass protests have continued across romania despite a government climb down on corruption rules. A controversial emergency decree which could have decriminalized some offenses was scrapped on sunday. Demonstrations continued for a seventh night calling for the government to quit. The ruling coalition, which has been in power for a month now has refused to resign. And moving back to corporate, shares in gap surged 4 after the retailer posted a 1 rise in Fourth Quarter sales. Strong results at gap and old navy helped to offset a 3 decline seen at banana republic. Shares up by 2. 25 . Shares in 21st century fox seesawed in extended hours trade after the Media Company reported a mixed set of quarterly numbers. Fox posted profits in the Second Quarter beating expectations, but the revenue fell short of meeting estimates. There was increased ad spend during the u. S. Election campaign. Revenues at its Film Division slipped by 4 . The Company Beat Expectations on earnings with adjusted earnings of 53 cents a share, 4 cents better than expected. Revenues were slightly lower than expectations. On the heels of sunday nights super bowl, they kicked off the call talking about the success of the game across foxs platform. This single game is a great example of the strength of the fox sport increasingly delivered across our platforms our ability to cross promote them and the continued value broadcast television delivers to the worlds leading marketers. And yesterday, the super bowl powered foxs first half billion dollar revenue day. Much of the call was spent discussing the potential on distributing to new digital platforms. Jays murdoch says it has the potential to reach a bigger audience using apps and reaching new subscribers with over the top digital services, such as hulus, saying fox could create more direct to consumer apps. He said the movie studio would be facing tough comparisons in the coming quarters once it comes up against last years hit deadpool. As for President Trump, he did not come up. Though he was one factor driving foxs advertising gains in the quarter. Back to you. Disney is set to report earnings after the bell in the u. S. Today. Analysts views on the company have varied. Some point to a slate of big movies due out over the next couple of year as a sign of cinematic dominance, others note that the cable flagships espns decline could undermine profits in the longer term. Kevin quigg is with us. What should we expect from the conglomerate that is disney . We are bullish on disney, actually. I think you just mentioned in the last segment live sports, entertainment is something that is driving a lot of the viewership. And despite the fact that there are, you know, espn seems to be losing viewership, we dont know that thats necessarily true. People may just be viewing things differently, looking at the Digital World differently and espn is a cash cow of sorts, been a flagship brand. So its not about espn being an asset or a burden, its about consumers viewing differently and maybe shifting to skinny bundles, as im told . Skinny bundles, indeed. I think the landscape is changing within that part of the entertainment industry. Whether its things like netflix and hulu or increasingly sling tv and its directv now. What we think is that makes it a challenge in order to gauge how many people are viewing espn. But whats not mistakable is that the power of live sports, thats the one thing regardless of your hulu or netflix, you cant get live sports. That will drive espns value to the disney franchise. What is advertising like at the moment for them . Advertising continues to be its changing, and with live sports you have to rethink how youre packaging your advertisement. I knows there talk about espns monday night football package changing the way theyre distributing commercials. Maybe having some ingame live spots similar to european soccer as opposed to traditional advertising means they use currently. You make it sound you say youre optimistic on disney. Quite optimistic on espn. I look at the Fourth Quarter report back from november, and i note operating income declines in every single segment. Studio entertainment a big surprise with almost 30 drop in operating income. How is that particular marker going to fair this time around . Its a volatile industry. Disneys broken into three. Television. Studio entertainment, traditi traditionally been strong. It was a surprise to see that drop, but with franchises Like Star Wars and the pirates of the caribbean, despite a bad quarter last time we think theres a future. We think some of those brands that are driving their value will sort of come to the forefront and provide value in the coming months and year. And if we were to continue to see weakness at espn, do you think that the the likes of rogue one, the star wars story, would that offset that weakness . A combination of things like rogue one offsetting it, but also the parks having a small decrease over the last numbers. We think theres strength in that. Hasbro reported their numbers, a lot of that is licensed disney material. That is certain to drive some numbers. Let me say, i dont think espn is nearly in the dire straits being reported. I think measuring the viewership, measuring how well or poorly that is doing has been a challenge. With that being said, if those numbers or the perception of those numbers are down, you would see an increase in the parks and studio entertainment. I was looking at we had a board that we were showing viewers, you cant see it from where you are sitting it was over the highest grossing movies including star wars one story, finding dory, captain america civil war, the secret life of pets, the jungle book. The only one ive seen is the secret life of pets. Im kind of behind on this. Kevin, have you seen any of these . My daughter and i just on netflix last night watched finding dory. I have hit some of those. Secret life of pets was a good one. Kevin quigg, thank you very much. We will be speaking to the disney ceo, bob iger first at 23 45 cet, thats later on this evening local time for us. Coming up on street signs, is your company cyberready . Which countries are leading in the fight for cybercrime . A cybersecurity report is coming up next on street signs. King arthur ready washington charge empress wu charge in chinese king arthur charge let your reign begin. Evony, the mobile game. Download now. Good morning. Welcome back to street signs. Im louisa bojesen. A u. S. Navy s. E. A. L. Raid in yemen failed in its objective, namely to capture or kill the head of al qaeda in the arabian peninsula. This is according to an exclusive report from nbc news. Military and intelligence officials told nbc that the raid which resulted in the deaths of more than 30 civilians and one navy s. E. A. L. Led the head to leave a taunting message for President Trump. U. S. Military officials, according to reuters, say that trump approved his first covert counterterroism operation without sufficient intelligence, without Ground Support or adequate backup preparations. Now, nbcs Cynthia Mcfadden reports. Tonight, multiple military and intelligence officials tell nbc news the real reason for the operation last week in yemen. The top secret target, the man american intelligence officials designate the third most dangerous terrorist in the world, the head of al qaeda in yemen. His name is qassim al rimi. The mission is to kill or capture him. I think it is a Successful Operation by all standards. Today we learn the gamble to capture him was not a success. He is alive in yemen according to multiple military officials who confirm that last night he released an audio recording, taunting President Trump as he spoke to the yemeni people, saying the fool of the white house got slapped at the beginning of his road in your land. The white house declined to comment. Al qaeda in yemen has been behind a variety of terrorist plots, including the failed underwear bomber, and is considered the most dangerous hub in the world. It would be unfair to say this was a slap dash kind of administration. The Trump Administration is new to the security world and may be getting its feet under it, the counterterrorism community, to include the military, is well schooled and well oiled in terms of launching these kinds of attacks. All of the leaders in the military chain of command were in agreement that the prospect of getting al rimi made the high takes Mission Worth the risk. Officials said that President Trump was told by the secretary of defense and the chairman of the joint chiefs of staff that the possibility of capturing him would be a game changer. In making their case to proceed, they told the president they doubted the Obama Administration would have been bold enough to try it. The operation was larger than any counterterrorism strike since the killing of Osama Bin Laden in 2011. The navy s. E. A. L. , William Ryan Owens was killed during the raid when forces were faced with fierce resistance. Its very difficult to judge in a binary context yes or no if this was a success. Counter terrorism work is difficult. Its dangerous. You have to be present and you have to disrupt, especially in places like yemen. Now, lets get back to business. More than half of the businesses in the uk, in the u. S. , and in germany are illprepared to deal with cyberattacks. Thats according to hitchcocks insurance first Cybersecurity Readiness report. It revealed 30 of 3,000 companies surveyed qualified as cyberexperts. The study also found that the three countries of the main three countries surveyed, that german firms lag behind the cyberreadiness curve. Steve langen is a ceo at hiscox. Tell me about the findings of this report. We were astonished that so few companies were properly prepared against cybercrime, particularly given the scale of the problem in a global sense. 2016, the cybercrime cost the Global Economy over 450 billion. Over 2 billion personal records were stolen. In the u. S. Alone over 100 million americans had medical records stolen. This is an epidemic of cybercrime, yet 53 of businesses in the u. S. , germany and uk were illprepared. What are you supposed to do to prepare . The normal response, what we find is when people have a cyberattack is they layer on more software, buy more software defense. There comes a point thats not enough. So we said you have to do four things. You have to get your strategy right. You have to get the processes in place. Secondly, certainly increase the technological defenses. Thirdly, more importantly, where people actually forget to do this, is to build the human fire wall in the business. So train your staff to recognize those suspect emails which are getting increasingly sophisticated and difficult to distinguish. Fourthly, off shore the risk to insurance companies. Out of the companies that were surveyed, you surveyed the uk, u. S. And germany. The german firms lagged behind . Yes. Im surprised by that. We were surprised by that as well. If you look at it from the sense of the u. S. Companies having probably well in advance of the uks and the germans that comes primarily because the data regulatory requirements in the u. S. Are much stricter than in europe. From 2003 onwards, various state legislation made it increasingly a notifiable offense if you have a data breach. So u. S. Companies have tightened up. Thats not the case in europe, but by 2018 there will be a european wide Data Protection law, which will bring that in line with the u. S. How do smaller firms compare to bigger ones . Smaller firms not surprisingly are actually less good at cyberdefenses. We found in the research that many of them fear the cost of putting in place effective cyberdefenses. As we point out, most of these defenses could be put in place with minimal cost. It is their own process, about Senior Management getting involve. It is about training your people. That doesnt come at a huge cost. Yes, the technology can do it, but get those first three things in place, you should be okay. Steve, thank you very much. Thank you. Steve langan, thank you. One second, ill demike you in a second. Thats it for todays show. Im louisa bojesen. Well be back tomorrow. Same time same place. More to come. Anyone with type 2 diabetes knows how it feels to see your numbers go up, despite your best efforts. But what if you could turn things around . What if you could love your numbers . Discover oncedaily invokana®. Its the 1 prescribed sglt2 inhibitor that works to lower a1c. A pill taken just once in the morning, invokana® is used along with diet and exercise to significantly lower blood sugar in adults with type 2 diabetes. In fact, its been proven to be more effective at lowering a1c than januvia. Invokana® works around the clock by reducing the amount of sugar allowed back into the body, and sending some sugar out through the process of urination. 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