Issued a profit warning on russia while ge cites sluggish Energy Markets for lowering its guidance. Analysts suggest the 1. 2 billion price tag is too high. But the ceo telling cnbc the deal will create a true winner in the imaging therapy space. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Its another volatile trading session for the russian ruble with the russian currency strengthening sharply versus the u. S. Dollar after the countrys finance Ministry Said it has started to sell foreign currency stocks. The ruble has lost over 20 versus the greenback on the week. Now, the micex, meanwhile, has fallen into the red after opening initially in the green. The msvi has warned it could reclassify russia to stand alone Market Status if its excluded from the emerging market index. There could be further pain on the way for russia. The white house says president obama is expected to sign into legislation further sanctions over russia over the
The battle for French Company alstom is heating up. The biggestuld be tugofwar for a french Industrial Company ever. Matt campbell broke the story. Who has the upper hand between siemens and ge . It seems ge is ahead of the curve. Good morning. On the merits, you are right, ge is more advanced. They made a binding offer. It is something that has been in the works for weeks, if not months. Coming up with something that is much more informal and would need more time to become very serious. Now, that said, there is a degree of political pressure in france of in favor of at least seen this siemens offer considered, which would be a socalled european solution, which might be more acceptable to some portions of the government. Over the last 24 hours we have seen the government backing off of its initial support for siemens. They seem to be walking that back. The smart money would be on ge getting this done one way or another but it would be a bumpy ride. Why is the french government backing
Telling to fight the sunni insurgents. President obama has not ruled putting troops on the ground. Andrew david is with us now. Andrew, can this violence be stopped . It is very unclear. They have swept in. This has been going on for a week. We saw a good chunk of the iraqi army collapse and evaporate. They are within 60 miles of baghdad. Clearly they have more support in the north than they would in the south and as you mentioned we are seeing calls for civilians to take up arms. But calling for that to stop an insurgency shows how desperate the situation is. There are reports that a quarter million iraqi soldiers may have defected. Al qaeda thinks they are too violent. That is pretty frightening. They have a lot of experience earned in syria fighting the civil war. They took much of the north in less than a week. They captured a lot of equipment. The iraqis have air support. You know the army evaporated in the north. Yes. Obviously we look at Market Reaction to all of this. We have s
For russia for the continues violence in ukraine. But russias most powerful man tells cnbc he will continue to collaborate with the u. S. Despite sanctions. We will continue to work to demonstrate our efficiency to be both beneficial to russian and American Companies. And from the pitch to the palace, prince phillipe ready to take the throne as spains new king after the 20 defeat against chile. You are look at live pictures from spain where prince phillipe is about to enjoy his coronation as the new king of spain. So a happy day for spain, but a sad day in many other respects. They were crushed out of the world cup. Remember, they were champions when they lifted the cup the last time around. Very different circumstances this time around. I guess its up to him to pick up the pieces after that crushing defeat yesterday. Did you watch it . I did not. I watched the australian game. Aus trail is out now, right . They are, fortunate. And the dutch are one of the favorites. Lets get back to t
He is lobbying the french the ges 17r the billion offer. There was a joint offer by siemens and mitsubishi. For more on this battle between the industrial titans, Matthew Campbell is joining me from london. This is a big day for jeff anelka. A big day for jeff immelt. How much convincing does he have to do . This is absolutely a big day and he has to make his case in paris to the government and the unions. Ge does have the inside track relative to siemens. They have emigrated deal. An agreed deal. Alstom, the target of the transaction, is on board. What siemens was trying to do does not have alstoms agreement, and the noises from the alstom cap is that they see the siemens proposal, which is pretty complex, as being a bit too much try to do and not ideal from their perspective. Jeff immelt has a tough day ahead of him, already underway in paris, of course, but he has some serious advantages. It sounds that way would you say that the simplicity of his proposal, as you were discussing, w