Of this , beatingclimate 108. 3 estimates and expectations. And the estimate was for 102. Francine better than expected. If my calculations are right and they may be wrong part of the survey was done in the first couple days. The for the market rout bef ore the market rout. Expecting to be lower than estimates because of the china factor. But confidence at 108. 3. Manus chinese shares have plunged again. Routteepest fourday since 1996. The markets europe, have rebounded. We have more on that with Caroline Hyde in a moment. We also have richard frost. He is in hong kong. What is behind todays rout . Richard yeah, hi. Fairly astonishing day giving the heaven losses the heavy losses we had. Decline. What appears to have happen is after the government expended so much energy and funds to shore up the market following the rout last month, they seem to have disappeared. Heavyat weve seen is losses with some of the largest companies, including petro china, chinas largest company, which has lo
Terrorists. Thats from britains science chief as he slams u. S. Tech company for turning a blind eye to misuse of their services. And u. S. Voters head to the polls today with the key Midterm Elections deciding which Party Controls congress and whether there will be two more years of political gridlock in washington. Youre watching Worldwide Exchange, bringing you Business News from around the globe. And we have to kick off with our top story, which is oil today. Of course, its down 27 since it peaked in 2014. June and down over 10 since the start of october, down 1. 6 , as you can see so far today. Really, quite an astonishing move yesterday. In fact, it was up at the start of day when the saudis announced they were going to be increasing the price to the far east and then they announced they would be cutting to price to the u. S. Seeing a sharp selloff as we went through the course of the day. Even though i think theres a bit of complacency in the longterm oil price, in the shortterm
Coming up in moments. Sprint shares lower in premarket trading this morning. Wider than expected loss, lowering of guidance and loss of subscribers, plus job cuts. Shares of michael kors down premarket after Holiday Quarter guidance comes in below street expectations. Alibaba reporting quarterly profit 45 cents a share in line with estimates. Shares of alibaba have risen 50 since the september ipo. As we said, we are moments away from a live interview with alibabas executive vice chairman joe tsai. We are getting used to these metrics, gross merchandise volume, annual active buyers, and general, we are going to get to the interview right now. Lets do it. Joining us first on cnbc alibabas executive vice chairman joe tsai. Very nice to have you here after this first Quarterly Report as a public company. You guys have made a great deal with mobile in your remarks. In your slide presentations. Let me start there. Its grown to represent 35. 8 of gross merchandise value. Your take rate moved
Perkins. Christine lagarde is under investigation for negligence in france when she was the french finance minister. Many around the world are astonished by that latest adult development. The s p will kick off today at a new high but that is just a part of the story. Rallies in brazil and japan helped push the value of Global Equities to its own record, 66 trillion sloshing around the global market. Trillionmore than 2 in value since august 7. The markets correspondent scarlet fu has more. 1000e index first reached in 1998. It took 16 years. It was last below 1000 has recently as september, 2009. From that point of view, it has taken almost five years to go from 1000 back to 2000 and now it has closed above it. I was looking at the movers and you have cyclical groups leading nine from 2009 until until now. After stocks are up 125 percent. Industrials gaining 120 . These are Industry Groups that have doubled in value since that period. I was speaking with liz and sanders she says the si
Currency as they do for virtual currency. He also said that the banks better capitalized and more stable than they were. Google and apple are urging the legislation to curb nsa surveillance. The clock is ticking to get this done before republicans take control in january. Many republicans are staunch supporters of the surveillance program. The ceo says the Solar Power Company has seen a growth rate for each of the last eight years. Thepoke about disrupt tang business. The utilities do not like it that much. They would prefer the captain to not have any other choice. If you can maintain a monopoly, you can maintain your pricing. Te the committee the committee is chaired by his cousin, elon musk. Toms as stake in aol a comes as yahoo announces possible combo with aol. The fund bought 1. 9 2 million shares of aol during the third quarter. Now to our lead. Alibaba has raised a record 25 billion in its September Ipo and just sold 9. 3 billion worth of goods ons in a single day, thethey are