It is time for World Business report. Headlines so. President macron faces the wrath of french workers. Its Biggest Union launches strike action today bringing disruption across the country. And the boss of bmw gives us his brexit wish list and reveals the car giants electric ambitions. Hello and a very warm them to you to World Business report. I am sally bundock. Very warm welcome to you. Also in the programme well explain augmented reality. Rory has been out playing with gadgets again. His report in a moment. But first, france is braced for mass strikes and protests today mainly about president macrons controversial plans to reform french labour laws. Here is what you need to know the reforms aim to make it easier for medium and small size businesses to sack workers. Trade Union Collective bargaining will also be watered down, and firms with fewer than 20 staff will be able to negotiate directly with individual employees, instead of a union branch. Also in the industrial action, the
Is less human input. Also speaking in riyadh, the head of saudi arabias Sovereign Wealth Fund pouring cold water on speculation that the listing of saudi aramco could be delayed saying the ipo is on track. And novartis beats expectations in the Third Quarter as they say they are making significant progress on plans for a possible ipo of its alcon unit the ceo tells cnbc what management is thinking if we do bring this to market in a spinoff, lets say, its going to be important that we do it from a position of strength, so that in the nearterm we have to focus alcon on delivering consistent sales growth and core operating Income Growth. As chinas Party Congress draws to a close, xi jinping is importalized in the constitution as he is named in the amended draft. Just want to bring you data from the eurozone in the form of composite pmis, they were below expectations we have the flash composite pmi for october falling to 55. 9 from septembers 56. 7 still comfortably above the 50 level. But
Live from bloombergs u. S. And asian headquarters. I am live in new york, where it is just after 7 00 p. M. Yvonne it is 7 00 a. M. Here in hong kong. I am yvonne man. There is something about the month of august where crazy things just happen. Two years ago it was china, the devaluation. The jury is still out to see whether geopolitics will be the trigger this year in triggering the volatility. Betty who knew a year ago we would be talking about north korea and the possibility of military conflict between the u. S. And north korea . But here we are in august. Volume is still relatively thin. Any movement will be exaggerated by the thin volume. That is exactly what we saw. Despite all these headlines, the markets remains relatively resilient. Which is confusing to some investors who say, we should be moving more on these headlines. Right now it looks like the markets are focused on earnings and the fed. Yvonne those are still some likely catalysts. From a comments Little Movement from
Leapfr leapfrog. Whats leapfrog . Its when a particular companys stock moves up. It causes other stocks to be revalued higher, almost instantly. How does it happen . Lets start playing. Take the actions in the airline the reason we had gary kelly the perfect ceo thug, he had solid things to say about novembers bookings. The name of the traffic pickled up week after week after week postelection. That was news today and the stock quickly moved up smartly. Now we get to the valuation part t. Priced earnings multiple. Remember stocks dont trade on absolute basis, they trade on a relative basis. Nobody cares that southwest is a 50 stock. We dont think its twice as expensive as a 25 stock or half as expensive as a 100 stock, thats nonsense. What matters is the earnings per shares, what we are willing to pay for them. It often symbolizes. When gary came on this show, southwest was swell selling 13 times next years earnings estimates and they are wildly regarded as the best capitalization in a
With senator barbara of maryland. And tributes and speeches from Vice President joe biden. Then at 8 00 p. M. , christmas at the white house. Join First Lady Michelle Obama as she receives the official White House Christmas tree. Tour the white house and see this years decorations. Make christmas crafting projects with children of military families visiting the white house, and, finally, the tree lightening ceremony on the national lawn. At 8 40 p. M. , hear from former House Speaker john boehner on the trump president si and his time in the congress. At 9 40 p. M. Attend the portrait unveiling of harry reid. Speakers include hillary clinton, Vice President joe biden, and charles schumer. On sunday, at 12 30 p. M. Eastern, well hear from retiring member of Congress Representative Charles Rangel of new york. At 2 10 00 p. M. From the shakespeare theater on capitol hill, we take you to romeo and juliet wrongful death . Mock trial. At 6 30 p. M. A look at the career of Vice President elec