Welcome to Market Makers, i Erik Schatzker. I am e stephanie ruhle, great to be back. Too, i had some great times last week. Alix steel sat in your chair. Almost as amazing as kanye west. Sitting next to me last week. It is a new week, lets kick it off. A busy news morning. Breaking economic news, existing home sales for the month of may are out. Who better to break down the numbers then michael mckee. What is the word . Whendont know whether you shopping for good news, existing home sales up more than forecast. 4. 9 for the month to a 4. 89 million annual sales rate. That is the best so far this year. Remember we were talking about how every buddy was buying condos and not singlefamily homes, that flip. Singlefamily homes up 5. 7 , condos and coops unchanged. Maybe people coming back into the markets right now. Numberting aspects, the of homes for sale, the mother supply falls in may. A little less supply and that has pushed the price of homes up to an alltime high, i have not ,000 is
9 billion to settle. And aceos is back online. The fashion retailer gets back to business after a warehouse fire over the weekend, but the firm says its fully insured. Shares pair losses. Well, a warm welcome again to Worldwide Exchange this morning, a bright, early monday morning. We do have some further pmi data out this morning, too. We had france and germany already this morning. Now weve got the composite pmi coming. It was estimated at 52. 8. Its coming in right now at 53. 5. Thats for june. So, compared to the estimates pretty much in line with forecast, but the pmi manufacturing estimate at 52. 1, manufacturing coming in at 52. 2, so slightly better on the manufacturing. On the services, too, its come in at 53. 2, bang in line with estimates, of course. And we did have france and germany out this morning. Germany pretty much in line as far as the manufacturing is concerned, weaker on the services, and that dragged the composite down. France weak across the board, both services
President xi jinping. Day two of a threeday stroist china. These are live images coming through from there at the moment. We do have, of course, arriving here threeday visit, accompanied by a whole gamut of Business Executives from germany as they try to drum up trade between the two countries. Lets look in more detail and get to beijing itself. Stephen engle is there with a closer look at the visit here. Steve . Im looking at it just as you are right here. Shes going to be given full military honor welcome to beijing as the premier hosts her. Met her last night after she flew in, her first stop on the three, almost fourday trip to china. Her seventh trip to china as chancellor since taking over as chancellor in 2005 and trade will be the focus of this visit last night. As i said, she flew in, merkel met with the premier and two, of course 0, exchanged the pleasantries before the cameras about the importance of building mute chur trust and, of course, business. Germany is chinas larges
They have ended services that toow them to send money their families. It is all linked to a crackdown. We begin with another cross continent deal. Will payaniel medlin 3 billion in cash in their biggest takeover ever to acquire wild flavors. Hans nichols is more on this megadeal. They make capri sun. Wild flavors was started as a German Company and is now headquartered in switzerland. Downstream, some of their products include capri sun. As thethink of capri sun drink other kids got to drink because it has unhealthy artificial coloring and flavor in it. Lo and behold, this is part of a natural food company. This did turn into a bit of a bidding war. You saw a Japanese Company try to get involved. Some swedish private equity, as well. 65 is owned by the son of the founder. He takes a big chair. 35 was kkr. It is part of an overall story of go local, go healthy. Report a drinkt story unless it is vodka or beer. Because concession capri sun is so intertwined in my childhood. How does this
But his leadership may become a casualty of the conflict nonetheless. Many in washington believe maliki cant unify his own country to stop the invasion and prevent a new civil war. Lawmakers say hes got to go, but the administration only hints at it. The white house may be nearing some form of military action. President barack obama tells top lawmakers in congress that hell seek their input but he doesnt need their permission. This as sources tell us that the u. S. Is carrying out man reconnaissance flights. Heres secretary of state john kerry defending dallas to nbc. Maliki was asking for help with air strikes in the last few weeks, as this was coming. As isis was coming toward this part of iraq. Why didnt we act then. For a lot of different reasons, not the least of which is we didnt have operational theater capacity at that point in time partly because Prime Minister maliki denied the kind of permissions necessary. That raises the question, why come to malikis rescue now. Isnt he a