capable of doing this job, but the problem is, zain, you don t know him. i don t know him. the world doesn t know him. people know steve jobs. his name, his face, so much attached to the company. they have plenty of people, nobody doubts, who are in line, who could certainly take this company forward, but do they have the same vision, do they have the same work ethic, do they have the same things steve jobs has that can carry the company forward. in the short term no worries, the company is going to be fine. down the road if we don t hear more news about him coming back in the long term, we ll see what happens to those shares and also the products, zain, down the road. will this company have the same vision? t.j. holmes, we ll see what happens when wall street wakes up and the markets react. apple makes 21% of the nasdaq 100. you re watching world one live from london. if you ve ever eaten chicken ki kiev, did you give any thought to the place it gets its name from? turns out the
u.s. markets open later today after a long weekend. wall street looks set for a higher open when trading gets under way, this is where u.s. futures stand in premarket action, all look up, pay attention very much on apple of course and a slew of big corporate news this week. apple incorporated releases its fiscal first quarter earnings after the closing bell and record-breaking results, but also wondering about ailing company founder and ceo steve jobs. he s taking medical leave for the second time in just two years as cnn s felicia taylor tells us, that s sending shock waves, since the tech giant makes up to 21%, would you believe, of the nasdaq. reporter: jobs has certainly led apple through a period of astronomical growth. over the last ten years the company transformed the use of technology certainly and its stock has benefitted from incredible gains. all of it marked by the launch
mentioned the previous times he was out, this is the third medical leave in ten years for him, but listen to this, in the last one in 2009, when he was out for five months after that liver transplant, yes, they took a hit. a 6% to 10%, we can expect maybe the same when the markets open here in new york in about four hours. but last time around, their shares in the time he left, rose 60%. so in the short term, they have a plan, you know they ve got some products lined up in the short term, but this man, is so much a part of this company and visionary tied to this company that they worry if he does not come back in the long term, what this could mean for the viability of that company. and real quick, who s taking over? who s taking over? a man you ve never heard of but he s clearly capable, by the name of tim cook, the chief operating officer, been with the company 13 years, oversaw the company last time he took medical leave back in 2009. he oversaw that 60% jump in shares. this is
gee geely. geely means auspicious in chinese. so far, sales of geely s cars are relatively small so the company is bulking up its business, cultivating its own talent. china is still relatively new to the car industry so chinese carmaker geely decided to set up this school to train up a whole new class of workers. this dean told me since the purchase of volvo, we think volvo would perform better not only in china but also internationally. our university will become more prominent, exporting talent. we want to teach them practical and technical skills. those skills range from learning how to make cars to modeling them. in china, the auto market appears to be headed for a slowdown as the government restricts sales to ease traffic. yet jung isn t nervous about his career choice.
ingraceate themselves into these emerging economies which become markets for their own products. we ve saw how many americans used to buy or did buy chinese made goods and what that meant for the trade balance with the u.s. china is looking further afield. i give you a better example. reliance, one of the biggest privately owned companies in india. that s just got a $10 billion deal with shanghai electric. shanghai electric is going to provide generators for it, turbines to make power stations. the money for this deal is coming pretty much from the chinese government. what does china get out of it? they get incredible access. as i said, reliance is a very, very big and powerful company. it s private. so doors will open, because china has just done a $10 billion deal. it then accesses a market, not just for energy, but for all the other consumer goods that china wants to sell. so this is what it s doing. you can say that in india, many