To a strong Balance Sheet but says there will be no word on its dividend until february. Dividend pulse has been very good for us and very good for our shareholders and has been just a solid sign post as to what expectations should be. And two ipos stateside und underwhelmed and square and tinder are at the lower end of the expected range. In the last hour the french Prime Minister warned that terrorist could use chemical weapons. This as he prolonged the state of emergency to three months. The belgian Prime Minister has put his weight behind the fight against extremists saying he will amend laws. Now in the past few minutes theres been reports of six fresh raids in brussels. Lets get the latest. Hadley gamble is in paris. Theres reports they may be conducting police raids in brussels and this is a country thats been involved in five of the last major terror attacks over the last 18 moss. Intelligence officials basically saying its about time that these folks in belgium go after the root of the problem which many identified as radical islamist preachers in that country. Theres some data to suggest theyre major contributors to the fight. In terms of the Islamic State. Hundreds have been admitted. Hundreds of people have gone from belgium to fight with the Islamic State in the middle east but we dont have any concrete data on that so far but its something they know they need to address but just is it coming too late for comfort . Here in france theyre voting later today to extend the Emergency Powers that are crucial to keeping the state secure and basically what were going to hear later today are lawmakers here in the lower house will vote on the Emergency Powers and tomorrow there will be further voting to extend the powers as well and this will raise larger questions about search and seizure and the freedoms that the french hold so dear and whether or not theyll be willing to give them up in order to make france more secure. I want to get to the latest on the reason why they launched the raids. Theyre looking for the mastermind of the paris attacks. You know, whats the latest on this . Theyre still trying to figure out whether or not he was actually in that apartment. Thats right, susan. So essentially what we know over the last 24 hours is raids, the on going raid that went for about 7 hours starting at around 4 20 a. M. Local time, what we know is at least 7 people have been arrested. There have been at least two terrorists that were killed. One was a woman that blew herself up. That was the first incident like that in the entire history of this country and they are continuing at this time to look for the man who they believe is the mastermind behind those attacks on friday. He was not among those that were killed and he was not among those that were arrested yesterday and of course theyre still cleaning up the mess that they made yesterday. There were 5,000 rounds of ammunitions into this apartment complex they were raiding so a big mess but theyre still trying to sift through and find out if theres anything more to be gleaned from that apartment itself and from the people bound near that apartment and arrested. But in terms of what the french government suggested over the last few hours as well, the french Prime Minister is saying that chemical weapons could be used in terror attacks. Thats opening up a whole new page. Thats basically the Intelligence Services in france and europe say nothing is beyond the pale when it comes to the Islamic States and their attacks on the west. Were hearing of course of this rolling over, the extension of the Emergency Powers in france and belgium also responding in a similar state today. How long can we extend Emergency Powers . How long before a proper political debate arises and disagreements which are rumbling under the surface within these countries, the u. K. One of them but also across europe. How long before those serious concerns that are rumbling below the surface come to the fore and makes it harder to act in decisive fashion either way . Well as you mentioned, right now in france specifically theres a lot of momentum behind doing something, a little bit more extreme than what has been done in the past and certainly the lawmakers that we spoke to over the last 24 hours told us that they are behind the president s need for these Emergency Powers. And even some of the more liberal saying theyre not worried about the Emergency Powers extending too far into french every day life but at the same point, something has to be done Going Forward. Theyll have to find a way to make the countries more secure and one of the things theyll try to do is make changes to the treaty and that will be a major topic tomorrow in brussels as lawmakers meet there. You can see a sea of green behind me. Strong performance today. Yesterday european markets were mixed to down slightly and then the u. S. Trade session was good. We had of course a clear indication that were on course for a hike in the u. S. In december and that was taken well by the u. S. Markets. That positivity flowing through today. Were out the best part of 1 . Lets have a look at the individual markets as well and see how that performance is playing out. Its pretty broad based positivity. Germany leading the charge at 1. 2 . Now the latest fed minutes show a majority of officials were willing last month to raise Interest Rates in their october statement the fomc said they would contemplate a rate hike in the next meeting. In the minutes most members say this new language didnt mean a move was automatic but it would take an unanticipated shock or weak data to change course. They actively debated the risks of moving too soon or waiting too long and what to do if conditions continue to improve or how to proceed if they do get worse. And of course that fed through into markets yesterday. Very much so but the on going question about whether or not they waited too long, whether or not behind the curve, thats also something well continue to talk about. Some people suggesting that Wage Inflation might get ahead of the fed and later on next year they might have to come to terms with inflation moving higher faster but youre absolutely right with the feeding through into the markets. The dow higher on the close. S p 500 up by over 1. 5 and nasdaq up by closer to 2 . We saw the best day in four weeks for these u. S. Markets and were looking at the dollar index, a little bit of feeding through into there as well although many of you might say not as much as what could be the case. Lower at the moment. Weve seen this in the euro dollar levels significantly over the last couple of sessions. Were below 107. We hit a level called 106. 17. A seven month low here within the last 24 hours or so and keeping in mind as well, one eye toward whats going on with the japanese yen along side with the dollar given the decisions to keep rates unchanged at the bank of japan and stating that production sesktis effected by w down in emerging markets. Speaking to cnbc, the richmond fed president explained why they should have pulled the trigger months ago. Ill where i was in october and september. I think Consumer Spending growth has been strong. We saw that number for the third quarter. That compares to numbers that we were getting early in the recovery. Thats an important factor. Theyre almost ecblike in terms of the strength of their guidance. Thats a good point. Its a compliment because i think the ecb is best at sticking to it. I should say mario draghi but you get a pretty good tell of whats going to happen and the market sends to price things in and i think right now everyone is certain were going to get a hike. There was less in terms of the on going pace weve seen but they guided clearly that they want to make a small move in december. Its interesting that theyre looking at also, well, can the economy with stand a shock if we want to get a leftfield shock again. If were seeing a bump further lower . Can the economy with stand that given where we are . Were at such low levels and not hearing about negative deposit rates. So you think the ecb is best at telling the market what theyre going to do . Really . I think mario draghi is the best central bank. If you think so. Because he has achieved an extraordinary amount in a couple of years without having as many tools in his box and having huge political pressure against it. So, you know, he has managed to act, you know, back in 12 and 13 that crucial line whatever it takes which in doing so he made the ecb the lender of last resorts which it never was before. And without even having to buy one whole bond. Exactly. But he has had much more against him as well. He had to manage divided political opinion and he managed to walk that plank. We digressed from the fed there. We saw the yield hitting new report lows as well and brought bonds into the picture. Joining us is the fixed income strategy. How are you . Not too bad, thank you. What do you make of the fed . Did the fed do anything in term of its communication. Yeah. Its pretty explicit now that we should expect a rate hike in december. Thats also what is now priced into the market. Its one of the most clear front runnings they have done. So we obviously have seen yields tick up from where they were six months ago but theyre not super high. Where do we go if we get that hike in december . Do we see yields jump up or is it already priced in. . Were looking at whats going on with wages. I think you could see further bearish flattening of that curve as a result of not we only really think theres going to be a couple of hikes next year following one in december so we think theyll struggle to get any momentum. I was speaking to somebody recently saying the fed is going to be way behind the curve come a year from now even if they start hiking rates slowly because of Wage Inflation. Do you think, is there a risk s . Were bearish on Wage Inflation although the last numbers did slightly challenge that view. Its something we keep an eye on. What do you think of german bund yields going out negative to six years . Why is that happening . Obviously its whats going on in europe. We have hugely diverge in monetary policy. It looks like the ecb is going to introduce relatively aggressive or aggressive easing messages in december and the strength on the front end is quite powerful. Youre paying the central bank to hold your money. Whats the interest in buying that trade . Well, a lot of people have to buy this stuff and its whats going on its not just whats going on in the nominal. If you have got negative inflation priced in for awhile then you might still be earning a positive. Sounds like you think ecb might surprise with a stronger piece of action than expected. Will they change the pace of bond buying in. Whats priced in is a 10 bit cut to the deposit rate. Were going for 16. Just since they havent priced in. If they want a little bit of shock and awe theyll do more than that. We think that will occur by ramping up the bond purchases. Ramping up the pace and not the period as well. Both. So that will be a surprise. If you get that kind of move is that yet priced into euro dollar or will we see a reaction further toward the parity level. I think we get further moved toward parity. Theres an element of increased priced in but we still think it will surprise a little bit. How much further widening do you anticipate to see in the yield curve overall . In terms of the spread . Yeah. Theres still further to go on that. And we talked about this as well, the way the fed and the ecb are acting, which of those two Central Banks should be more aware of what the other is doing . Which one has more effect in terms of where the big picture moves are happening . The u. S. Is still seen as the lee leader. The u. S. Is more internally driven. Well have to leave it there. Thank you for joining us. Fixed income strategist. And also we got more fed talk later on this morning. The cleveland fed president will be on squawk box. Thats an exclusive interview, 8 30 a. M. Eastern time and they got a good stack of interviews today, dont they . On u. S. Television . Definitely do. On top of that, here on the show, still to come, do you believe in unicorns. I used to actually. I thought unicorns lived somewhere in the beautiful forest. Why dont you believe in them anymore . The world, right . Investors seem to be losing faith in the mystical animal as well judging by disappointing ipos. More on that later in the program. Youre watching Worldwide Exchange. Find us on twitter. Find us on email. Get involved. Well see you in a second. Its easy to buy insurance and forget about it. But the more you learn about your coverage, the more gaps you might find. Like how you thought you were covered for all this. When youre really only covered for this. Hot dog . Or how you may think youre covered for this. But not for this. Whoa no, no, oh , oh . Or this. Or this. Or that. Talk to farmers and see what gaps could be hiding in your coverage. 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Reports from ap and reuters suggest that fresh raids are taking place in other areas as well around brussels. Reports also say that theyre focused on the suicide bomber who was one of the attackers. Right. Lets have a look at some of the biggest individual movers today in europe and kick off with bhp. Its up 3 after the ceo an mckenzie said they will not give any indication of dividend policy until february of next year. This after maintaining a healthy Balance Sheet through the commodity price route. Matt taylor has more for us. Bhp faced the music at its annual meeting that took place today. Lots of concerns over the deadly mining incident in brazil that of course claimed the lives of 11 people, that dam rupture that indated a number of towns and bridges in central brazil. The chairman says that theyre still trying to determine the cause after that deadly accident but that theyre doing everything that they can to try to reach a resolution as soon as possible. They have established an emergency fund, about 260 million and they have also said that an independent committee is going to oversee the use of the funds. Take a listen to what Senior Management had to say with respect to brazil. Please dont doubt that we are absolutely committed to do what we think a reasonable man and woman would think is right irrespective of how other things play out to reconstruct the communities and the and if you like the housing of the people that have been effected but also by the way of the vier environment and we need to discover exactly what that is. Bhp shareprice has been under significant pressure as a result of the incident in brazil and its one concern that shareholders voiced today. The crumbling share price with them sitting at a 7 year low. We did see the stock move higher today and the company commented about its dividend policy. Also concerns as to whether or not bhp should be maintaining its progressive dividend policy. Heres what the management had to say on that. The dividend policy has been very good for us. Its been very good for our shareholders and has been just a solid sign post as to what expectations should be. The world has changed. And last year was a very difficult year. All in all, a fairly somber mood here at the bhp. The chairman saying that the past 12 months have been one of the worst in the companys 130 year history. Thats the latest. Back to you. All right. Its the best day in seven months. Up 6 . Whats sending shares higher . Well it posted flat revenue for the first half of the year. The British Postal Service saying it expects underlying operating costs at its u. K. Business to drop by 1 for the full year. The organization has seen growth in its parcels business offset by declining volumes of letters sent but results taken well indeed. Now results not taken so well, down 9. 3 . It had reasonable autumn sales. The british home builder saying its enough reservations to deliver growth of 8 marking a record volume. But clearly underwhelming relative to expectations. Now thats off 20 . It fell, we saw the budget retailer falling over 40 . As it opened more stores. The company also flagged a rise in the living wage which will add 4 Million Pounds to costs in the first year. Now lets also just have a little look in. Its set to cut costs by 2 Million Euros as it grapples with a slow down in brazil and slow down in europe. This after they reported a 12 rise in operating profit just ahead of its own forecast. Shares up a very nice 9. 3 . Earlier we asked the ceo where the strength in its business was coming from. Clearly its the development of our Facilities Management services, right . Which grow by three or four times faster than just the food services, right . So very, very strong growth in Facilities Management and the other part is the benefits and rewar rewards business which is still going double digits. And its very tense. We had a very good double digit growth in brazil and also, you know, a little bit stronger growth in europe and stronger growth in asia. Whats your outlook for the next physical year . Organic growth is around 3 and operating profit objective is, you know, around 8 which is in line with our longterm objective. We also asked if they were taking security precautions following last weeks attacks in paris. We have a lot of compassion for stricts and the families and, we think about them, right . The other thing i wanted to say is that, you know, for us, the security of our people is essentially. So we have reinforced all the measures of security. In all our accounts and all of our public venues to make sure that as much as we can we protect our people. We have to talk about the ipo market as well. Square priced its ipo. Its listing at 9 a piece which was actually below the indicated range of maybe 11 to 13. Thats also well below the 15. 46 each investors had to pay in the companys last private round of funding which took place last year. So this ipo set to raise about 243. 5 million. About 80 million less than expected and that values square at around 2. 9 billion. It will trade under the ticker code sq. They failed to overwhelm investors and theyre concerned about jack dorseys dual role criticizing him and the company for not better communicating how he will split his time. Square just detailed his rule in an updated filing on monday. Jack dorsey will be on squawk later on to explain. Squawk on the street at 9 00 a. M. Eastern time. Speaking of ipos, match group which owns twitter not twitter, tender guys, okay cupid and the rest priecing its ipo 10 a share. Other sites raising 400 million which gives it a valuation of 4. 2 billion. That does include debt. Match will still be the majority owned by iac interactive. Shares will trade under the ticker code ntch. Greg blatt will be on squawk box today. Thats what i mean by a pretty good rotation of ceos on u. S. Programming and some are hailing, i guess, this underpricing of squares ipo as maybe the end of the unicorn era. Thats where the unicorns come in. Exactly. Yeah. Do you know what this shows, though . All the vcs looking at the massive new Tech Companies with valuations that theyre now starting to question those tech valuations, right . Its an interesting story that thats come out of this. Is the private market overpriced. Has this been a little flag to those people investing in it . Theres a little truth to that. We all sthaed the private side of it has been very fully valued for sometime but this is Company Specific. Possibly sector specific rather than Company Specific but it doesnt apply to everything. In particular i think that the issue for square is that it still relies on the traditional infrastructure provided by the big guys. By the visas and apples. It came out with this idea five or whatever years ago, really predicted it would change the market when it raised money at a huge valuation but it hasnt been able to do this on its own. It does rely on visa for actual payments to go to and they adapted a lot for the meantime. For the middlemen. With the payments. I guess of all the sellers and buyers and then matching that up with the car providers, right . So its not very innovative. The 9 million valuations at time is when people still thought it would just be the likes of the visas of the world and it clearly hasnt. Those guys are responding and doing their own things as well. Thats the issue between that unicorn valuation moment and today. So square was priced below. Match was priced at the bottom of the range. We had first data priced below as well. Fitbit priced above. It is the only one that has seen a rise in the share price. Others have seen drops in share price. Ipos down 53 compared to last year, the tech ipos and overall ipos in the u. S. Down 62 year on year in terms of how many ipos are happening. Listen were getting breaking news through on our wires. Angela merkel talking about how theyre standing by their french friends. She talks about how the paris attacks they were aimed at all of us she says and she also says we will overcome present challenges. So having been speaking here recently. Now gathering many european leaders meeting over the next couple of days to try to figure out what the next moves are after the attacks on friday. We have hollande meeting with putin later this week as well. China cut its rate. So the 7day rate goes down to 3. 25 and the overnight slf rate goes down to 2. 75 . So breaking news there. Perhaps well have a quick look at currency as we go. Shortterm lending facilities and not the cash deposit rates. This is more interjection but on a shortterm basis. Exactly. Adding to the on going rather than a transformational change. Its like they did last time where everybody was talking about doing something and china came up. They cut the main rate as well. The cash deposit rate. Very different. But theyre happy to continue to boost stimulus. Market reaction to that and much more here on Worldwide Exchange in a couple of minutes. Belgian Police Confirm six fresh raids are underway in brussels in relation to the attacks in paris. This as the Prime Minister says the country is to bolster its security laws. A hawkish fed driving wrur penne stocks higher this morning as minutes suggest the central bank will deliver in december. This after wall street has the best day in four weeks. Watch this space. Investors cheer commitment to a strong Balance Sheet. There will be no word on the dividend until february. The dividend policy has been very good for us. Its been very good for our shareholders and has bb just a solid sign post as to. And square and tender price at if lower end of the expected range. Right. U. K. Retail sales are coming through and they have fallen more than expected. We have the october month on month figure at minus 0. 6 . It was expected to be flat, really, rather than decline. The year on year figure is up 3. 8 . It was expected to rise by 4. 9 so october retail sales data, a little disappointing. Of course follows some disappointing inflation data recently and long sense have we had the data coming out so strongly from the u. K. This was disappointing coming out. Were looking at the figures as the biggest monthly drop down. 9 month on month and 3 year on year. Well have a look at sterling basically flat today but of course it has been a little softer against the u. S. Dollar in recent weeks and months already. Lets have a look as well just to round things off. The euro up a little bit today, up 0. 3 . 106. 9. So it started of course to flirt with breaking some of those handles but just below 107 at the moment. Sterling already 15246. Brussels Police Confirmed theyre undertaking fresh raids related to paris in brussels. Lets get out to hadley live on the ground for us in paris. Hadley. Hey. So what do we know . We know this is an area thats been under intense scrutiny over the last several days in particular. This is a country linked at least five times to major terror attacks over the last 18 months. 300 to 350 travelled to fight with the Islamic State in syria and we also know this is a country where the Prime Minister has come out and said we have to do something about hate speech and taking on these radicals and get rid of them. Now this is also a city and a country that is a major stop for radicalized as they travel from the gulf and places like saudi arabia and the gulf states as well and its become a safe haven for them. They seem to have a thriving black market for weapons. This is where the attackers sourced their ak 47s in january so the bigger questions Going Forward will be how it is possible that a country like belgium has such a sizable amount of folks that travelled to fight with the Islamic State in syria but also how they host the European Union and European Council and theyre still in such a hot bed of problems when it comes to tackling rad cam islam in their own country. Well check in later on. Hadley gamble right there in paris. Lets talk through this and joining us from liverpool, Peter Williams. Around the desk with us. Research fellow at the Henry Jackson society. Peter, why dont i start with you . You have a very interesting history and very spresing resume being a former Police Inspector that worked with the military on terrorism operation. How did this happen in paris . Lets talk broadly . Sorry. Can you just repeat your question . How did this all happen in paris . Well because isis itself have changed their operational strategy. If you take the last few months, for example, we now know the Russian Airliner was a result of isis operations. We have the shooting in tunisia. It signals a watershed moment in respect to the operations and in respect to isis. Now that may be due to the military operations that are happening in syria and iraq in respect of their actual military capability is being downgraded. Any terrorist organization wants to get as much publicity as possible for their cause and that is why this particular incident which appears to be still on going started in the south of france. Was there anyway to prevent today . Was this a lapse in intelligence . Because you pointed out that the French Police have three divisions essentially. Its all spread out. Theres practically no communication between the three. So maybe this diversity in structure let this happen. Well, in terms of the French Police, the structure is pretty much the Police National which is the civilian police. Its actually part of the military. So theyre also supported by the military but with internal information within france they come in the direction of the interior minister. The reason for that is so we do have joined up policing between them. If there has been a failure, its the intelligence and the way of defeating or the way of reducing the impact of these attacks or opportunities of these aattacks within mainland europe is improved intelligence and im sure thats what will be looked at. Hang on for a second. I want to bring emily into the conversation as well. Im really fascinated by what the wests end goal is. Because i look at what the west has participated, be it in afghanistan and libya and numerous places and the outcome has not been good so far and i look at what is happening in syria and i wonder what the end game is. Is it just to get rid of assad . Then what . Is it to try to work with the rebel groups or against the rebel groups . Were doing all of the above regardless of whom and depending on which countries you are. Thats an important question and something the policy makers have to start asking themselves. We havent seen a Clear Strategy so far. The only strategy we have seen from obama really is to retreat from the region what i would advise is to extend militarity and target senior command advisors to target from infrastructure and Oil Refineries and targeting refineries ends up killing more civilians than if you were to say target oil in transit. So we need a targeted approach to isis but if im really honest about this, i dont see us solving the problem without sending people in or putting boots on the ground. Isis dispersed throughout major cities which means that air strikes, theyre just impossible. You cant completely destroy the groups. We should have been addressing this problem years ago. We should address the problem years ago but we have to try to weaken them as much as possible. We start to get to the heart of is isis. Do you think we need boots on the ground in terms of iraq . I dont think theres much option but we will have to do that eventually. Take on a coordinated Coalition Response militarily but that will sort of hopefully resolve the problem geographically but we cant defeat an ideology and we need to look at other strategies to address this problem. Isis developed in this vacuum, probably within about the last two years when the west was primarily focused on activities on the afghanistan, pakistan border. Particularly in those states in afghanistan which are identified as the breeding ground for al qaeda and isis were able to develop in that vacuum. The ideology is still there and we need to address that but we need to address their operations on main line europe and the secret to do that is by improving and coordinating our intelligence an awful lot better than what we have seen so far. The operations you see in brussels are intelligenceled Police Operations and thats the way we need to progress in the future. Emily, is there a sense where islam itself needs to be doing more to denounce isis and to try to carve it out more clearly as something thats an area of evil that everybody wants to get rid of . I think what we have to do in this country is establish the difference between islam but also be honest about the fact that this opportunity have nothing to do with islam. We have to make sure that we emphasize the differences between islamists, those people that want to achieve an islamic fate whether they do it through violent or nonviolent means and ordinary muslims that dont want that. We have to establish a difference. Otherwise well see a continued rise of attacks against muslims but well also see those trying to address the problem. Well see continuous barriers. So we really have to address the ideology behind the group. The ideology exists here. It exists in our schools. It exists in our institutions. Even if its not violence. Its the overall goal, we have to address that. Thank you for joining us. We have to leave it there. Emily dyer from the Henry Jackson society. Also thank you to Peter Williams from liverpool university. Now president obama warned the Islamic State that it cannot be eliminated until there is a political solution to the conflict in syria. Speaking earlier today he added that the resolution would not be possible as long as president assad remains in power. Now meanwhile russia says its conducted a mass air strike against Islamic State strong holds in syria. The Ria News Agency reported that long range bombers and cruise missiles were used to strike targets north. Its confusing to me is just kind of a bit southwest. Were getting ever closer to the waterfront. Were getting ever closer to lebanon as well and also that i thought was a strong hold. Nothing to do with isis. Good to see you. These air strikes are very puzzling to me. Were including targets that arent isis targets necessarily. Thats right. The russians are targeting a broad range there and certain amount of criticism from the u. S. And theyre not pinpointing specific things and just taking out a wide range of targets but it was sort of to be expected. They have escalated on various positions especially in raqqah. The capital of the state isis has carved out for itself in syria. The russians seem to intensifying their air raid they beefed up their air strikes and they were concentrating on iraq before their attacks on paris and now theyre hitting targets in syria as well but it appears the russian approach to air raids is much more heavy handed than the precision bombing that weve seen that the u. S. Has carried out. They have been partly ineffective in moving isis back from the ground they have taken over. Most analysts suggest its symbolic and make tangible changes and you need a Strong Coalition with boots on the ground which brings us to the 64,000 question of what is a coalition look like. Theres so many players. You have different ideas of what the Political Landscape should like like in syria. You have iran backed by russia. Arguing thats a sad should play a role compared to saudi arabia backed by the u. S. That want to see assad removed as soon as possible. Now if a coalition of Ground Forces was to be assembled it wourld create very strange bedfellows on the battlefield. Its hard to imagine the u. S. And iranian troops fighting side by side but Stranger Things have happened in this region. Whats key to sorting out some of the problems in syria is all the different players coming together to try to read off the same page. Back to you. Thank you so much. Nbc in teheran. Were going to go to break here on Worldwide Exchange but still to come on the program, the clock is ticking and pressure is mounting. Find out why time might be running out to reach a takeover deal. When the flu hits, its a the aches. The chills. The fever. An even bigger deal . Everything you miss out on. Family pizza night. The big game. Or date night. Why lose out to the flu any longer than you have to . Prescription tamiflu can help you get better 1. 3 days faster. Thats 30 sooner. Call your doctor right away. And attack the flu virus at its source with prescription tamiflu. Tamiflu is fda approved to treat the flu in people 2 weeks and older whose flu symptoms started within the last two days. Before taking tamiflu tell your doctor if youre pregnant, nursing have Serious Health conditions, or take other medicines. If you develop an allergic reaction, a severe rash, or signs of unusual behavior, stop taking tamiflu and call your doctor immediately. Children and adolescents in particular may be at an increased risk of seizures, confusion or abnormal behavior. The most common side effects are mild to moderate nausea and vomiting. Call your doctor right away. Dont lose another moment to the flu. When theres flu, tamiflu. Welcome back. Its Worldwide Exchange. A bit of green. Thats what we have been seeing every day. Except for maybe a day earlier this week but markets looking toward the Central Banks at the moment. Federal reserve policy makers believe the u. S. Economy is now Strong Enough to absorb a modest rise of rates in december. Now this is according to the minutes of the latest fomc meeting. Steve has the details. Minutes at the feds october meeting make explicit what they already said. If the fed is past on its way to its first rate hike in nine years at the upcoming december meeting. Most fed members thought Economic Conditions would be met in december to hike Interest Rates and they make clear that the october statement wasnt designed to send a message that will be appropriate to hike at the next meeting. One hawkish member of the fed said in an exclusive cnbc interview that he did not expect much change in the economic or the rate outlooks as a result. We have been through episodes like this before in which some disruption of geo political or military nature effects things. People can get cautious and pull back a little bit. These seems to be transitory so keeping our fingers crossed and waiting and seeing. No decision had been made. A rate hike remains contingent on the Economic Data and theres obviously dovish members on the committee that are unconvinced and worried about global weakness and u. S. Economic weakness but the center of the committee looks to believe those risks diminished and the economy is in pretty descent shape. All members of the committee agree that once rate hike starts there likely to raise slowly afterwards and there was general agreement that starting hikes earlier would allow future hikes to be gradual rather than forcing the fed to play catch up. So as much as any central bank ever does the fed is telegraphing a december rate hike. An effect that only Economic Data at this point could derail. Now the bank of japan, boj maintaining its current monetary Stimulus Program on thur thursday. And speaking at the post meeting news conference, boj governor kuroda blaming flat exports on emerging economies. He expected emerging markets to improve thanks to solid growth in advanced economies leading to a moderate recovery in exports and we did see asian markets bounce up as theyre citing the fact that there has been uncertainty thats been lifted on the central bank move with the Federal Reserve last month. So the nikkei seeing gains of. 1 . The shenzen composite up 1. 5 . Lets talk about inversions. Planning to get tough when it comes to tax deals sent to senior lawmakers. New administrative action is needed to reduce the economic benefit of the inversion deals in which u. S. Companies recorporate to lower Tax Companies while continuing their domestic operations. He also imposed initial restrictions last year in an effort to try to make these inversions more difficult to pull off and less profitable for the Companies Involved an he says hell issue targeted guidelines later on this week. What about those trying to complete these inversion deals . Pfizer is one. Ramping up talks to buy up allergan amist a new u. S. Crack down and pfizer is negotiating a price of 370 to 380 a piece for the botox maker which is in ireland. Now apart from the tax considerations a deal would give pfizer access to allergans dominance when it comes to optimal. Over in german trade, getting a boost up. Were up close to 5 . Pfizer were lower there and what is allergan trading at . 300 . 37380. Thats a nice premium on top of the current share price, right . Definitely. If it gets through. A long way to go on that. Trying to push it through sooner rather than later before it does materialize and stop that kind of thing. We had this whole wave of inversions in 2014, somewhere around there and then the u. S. Treasury stepping in and putting things in place to make it more difficult and you have Companies Finding loopholes which shows us we need more regulation. They continue to gets into the white house in 2016 because republicans want smaller government. Less regulation and they probably dont want to stay on the same tone as the democratic u. S. Secretary jack lew as we speak. Its such a complicated issue to carry out because of the existing process of taxing companies on their global earnings and unless they rethink that theyre always going to be chasing loopholes to shut rather than just fundamentally solving it. Yeah. Although they can be efficient. They have done so already and theyll continue to try. It makes them more money that way. Youre right but also International Differences in tax structure. It begs the question whether or not we need a unified global tax structure which i hear outcries. We have to leave that one there. After the break, well be live from belgium where police are conducting Counter Terrorism raids following on from last weeks attacks in paris. Latest update from belgium after the break. Good thursday morning. Welcome to Worldwide Exchange. Im susan lee. Im wilfred frost. Here are your headlines from around the world. Belgian police are confirming they have fresh raids underway in brussels in relation to the recent attacks in paris and this as the belgian Prime Minister says that the country is to bolster its security laws. A hawkish fed drives european stocks higher as minutes suggest the central bank will deliver in december. This after wall street has its best day in four weeks. And two