Hello and welcome. I am mark barton. A warm welcome to the first hour of the program. It is 6 00 a. M. In london. Lets get to the top story. More than 100 World Leaders gathered in new york for a United Nations summit on Climate Change. Among them was u. S. President obama urging action while there is still time. There is one issue that will define the contours of the century more genetically than any other. And that is the urgent and of a changing climate. The chinese delegation was there. Some commentators suggesting these are bold commitments coming. Bigger than they have made in the past. President obama saying the u. N. Money is helping emerging markets. Key to this conversation is the level of development. Obama has called Climate Change, which was a key part of it hasction campaign not been embraced by everyone in congress. This is the moment when the rise of the oceans began to slow and our planet begin to heal. They almost laughed at him. They say he would have no better luck
It is just on 6 00 here in london. Oil producers have already got down to business and the leading players supply one third of the world posco crude oil got together last night to see if they could preemptively agree to a cut in output. Interviewgot the only with the chief executive of the biggest publicly traded oil rosneft,raws left what did he have to say then . It is a dark morning here and cold in vienna and especially for those were hoping for Higher Oil Price because the man. Coffer their hopes yesterday the stage was set for a grand deal between saudi arabia, venezuela two countries from opec and mexico and russia two countries outside opec to agree to cut output to boost prices. The first three of those countries mexico and venezuela and saudi arabia cooperated in 1999 when oil had just dropped below 10 a barrel and there was hope and suspicion that they might do the same thing yesterday, alas i spoke with him just as he came out of the meeting and he said oil is tumbling sayi
Cnbc theyre sticking with their growth forecast. The differences are so small between ours and theirs. So it depends. We speak to the ceo of lamborghini as it unwraps its latest luxury model at the paris auto show. Others tell cnbc theyre optimistic on a european recovery. The worst here is behind us. I think the necessary measures have been patient. Theres still a lot of work to do. My job is to turn europe around. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Ecb meets today. The main rephi rate is 0. 05 . Banks are repaying deposit catch at a rate of 0. 2 . Mario draghi announced the ecb will begin buying Asset Backed Securities in a bid to expand the Central Banks Balance Sheet to 2012 levels. And that is what makes todays press Conference Key for investors. Top of the agenda, mr. Draghi, will be expected to answer tough questions on that controversial Bond Buying Program. The ecb president will have to defend the luke warmup take of
Cricket returns to pakistan. An umpire is making a comeback after being injured in an attack that took the sport away from the country six years ago. The how manual ruins of an ancient city as risk of destruction from a modern conflict. Isil fighters have entered the World Heritage site in palmyra syria. Isils momentum being stalled has now been shattered by its advances. Palmyra, the cradle of civilization is now in its hands. We have this report. This appears to be the final stages of fighting for a city at the heart of syria. Isil fighters pushed Syrian Government forces out of palmyra. They are now in control of the the citys infrastructure including security headquarters. Of course, thousands of people. There are about 140,000 people here, including some displaced from homes. People are afraid. Theres no water. They can only use local wells. Theres no power most of the time. Had gone is surrounded by gas feeds and home to a prison where the Assad Government houses political prison
And two german giants report earnings. We will report the numbers as they come. Welcome to countdown, i am mark barton. Also coming up, almost a Million Dollar tribute to the late marvin gaye. And the late lawsuit. Net income falling 17 . Seems to be below estimates. Analysts expecting a drop. Earnings before taxes, down 1. 9 . 905 Million Dollars. Analysts were estimating 94 mine dollars. What is important is the projections for 2015. The company has confirmed the forecast for 2016. They will pay a final dividend of 85 euros. Those are the headlines. Stay with us. Later this hour, i will check with the chief executive. The strongest euro in a dozen years. Concerns about corporate earnings. Ftse 100 fell 2. 5 , pulled it down by commodities stocks. The swiss market was not hit as hard. It was buoyed by the news at Credit Suisse. Lets focus on Credit Suisse . A bank in transition. The new man at the top will be the announcement of his replacement had an immediate and positive effect on