Decline but negotiations continue between two Food Industry giants. Unilever rebuffing merger proposal from kraft heinz in what would be one of the biggest deals ever. Plus stocks pull back. Was the record run for the dow and u. S. Markets overly bullish . And four weeks since taking the oath of office, President Trump tries to focus on jobs and manufacturing. Hell visit a boeing plant in South Carolina later this morning. First up though, kraft heinz looking to create a consumer powerhouse confirming it has made a takeover proposal to unilever. The initial proposals been rejected unilever saying it undervalues the company. But kraft says it looks forward to reaching an agreement with unilever, adds of course theres no guarantee one will be reached. We finally have some numbers to work with, david, and im sure you got so color behind that. Yeah, luckily able to speak to some people who, you know, at least are familiar with whats going on here. Why are we learning about this . Well, sto
Of light coming through. Very, very Good Progress on our legacy. 30 reduction on the bad bank. Going back three years, 50 of our capital was tied up to legacy assets, today thats down to 20 , a very, very good performance from the core bank. Vivendi shares sink to the bottom of the stoxx 600 on a report milan prosecutors have opened an investigation into Vincent Bollore over charges of market manipulation in the mediaset stake. China hits back after President Trump brands beijing the grand champions of currency manipulation just hours after treasury secretary Steve Mnuchin tells cnbc he is not making any snap judgments on beijing. We have a process with treasury where we go through and look at currency manipulation across the board. Well go through that process. Well do that as we have in the past. Were not making any judgments until we continue that process. Welcome. Kind of like that. Good morning and welcome, gelcome. Our European Equity markets this morning, maybe a bit of a guac b
Obamacare. Hear from the ceo of Molina Health care, one of the companies that could be at risk. The white house appears to take the lead on the push for tax reform now, but will a border adjustment tax be in the bill . Hear from the house ways and Means Committee chair, kevin brady, a key proponent of the tax. Thats a first on cnbc interview a little bit later in the program here. But we again with a trump administrations reported exploration of two controversial new taxes, eamon has the latest from the white house. Yeah, hi, kelly. This was a story broken by the Washington Post hours ago earlier this afternoonment i talked to the white house official. They are not disputing the Washington Post reporting here. Heres what we know from their reporting under consideration in the tax plan that is being worked on here at the white house. Two ideas. One is a value added tax. The other one is a carbon tax, value added tax is a tax in which you apply the taxation throughout the building proces
Far theres scant evidence of this. European equities open in negative territory after u. S. Stocks post their largest oneday reversal in over a year as a more hawkish fed indicates it will start unwinding its Balance Sheet this year. Unilever bucking the european trend announcing they will be selling their spreads business. The business has leading market shares in most of the markets in which we operate in, so im sure there will be a lot of interest. A series of polls sees french president ial frontrunner emanuel macron lose ground to Marine Le Pen after the Television Debate as his alleged lead in the first and second round narrows. Good morning, everybody. Welcome. Its pretty red out there. It is pretty red. We saw that reversal in the u. S. , based on what fed was saying about high valuations, also about reducing its Balance Sheet and then the comments from ryan about tax reform. Seems we have more timing now, more timing with regards to the reduction of the Balance Sheet. When loo
Looking overnight in asia. The nikkei droez edclosed down. The hang seng down. The shanghai was up 0. 3 . In early european trading, the dax is down. Down by 0. 4 . Ftse is off by a half percent. If you look at the tenyear yield, continuing to watch that yield below 2. 4 . Yesterday 2. 352 . This morning it looks like the tenyear is yielding 2. 357 . Crude oil prices, which have been above 50 over the last several sessions are up once fwan th again this morning by 3 cents. Some Market Movers yesterday. A lot going on. Really demonstrating how sensitive the market is shethes days. Paul ryan suggesting tax reform could take longer than expected. The possibility of tax reform did you forget your contact lenses . No, no the possibility of tax reform has been a big issue on the table. The house Tax Oversight Committee is planning thearings in connection with the tax reform. No sound bite . No sound bite. You went right through it. Was there a sound bite . There was. Lets get the sound bite