he meets prime minister shinzo abe on the first leg of his asian tour >> i'm committed to achieving a fair, free, and reciprocal trading relationship. two deals slide after sprint and t-mobile call off their mobile talks good morning, everyone it's monday and we've got some macro economic data in the form of the eurozone. pmi for the month of october and it came in at 55 it was forecast at 54.9. just a tad higher than expected. definitely a little bit of a slowdown compared to what we saw in september when we saw 55.8. when it came to the german numbers we saw new orders, the fastest rate in 20 months. really painting a picture of a solid start to the fourth quarter. the italian services growth number, that was the lowest in the year doesn't seem to have a huge reaction 116.10 unchanged on the day. let's show you what's happening in terms of the equity markets roughly one hour into the trading session and we are just modestly lower to the tune of 0.1% we are still in the thick of the earnings session here. we had some earnings disappointments this morning from the likes of at core. i want to show you the indices one by one this is how we're looking to the. we've had the footse and the da trading higher ftse 100 off by 11 points. xetra dax lower to 27 points a quick look at the sectors and here you go. you've got basic resources higher to the tune of 1% health care technology trending nicely to the up side. banks and telecomes, though, you've got a lot of stories going on there those are trending to the down side let's get back to our top stories. saudi arabia has launched a major crackdown on its establishment. he's led anticorruption purges arresting at least 11 saudi princes, tens of former ministers. those detained include prince al walid who faces allegations of money laundering and the head of the national guard has been removed. this is seen as the biggest move yet to consolidate power as he pushes ahead with the kingdom's ambitious reform movement. consolidating the power. is that too simplistic of a view, hadley >> reporter: i think that's got to be part of the conversation, carolyn. at the end of the day you have to look at what's happened over the last 24 to 48 hours in this country. you have members of big business, members of royal family and government ministers all being held accountable the crown prince says no one is above the law. certainly what we've seen taking place here in saudi arabia is an ongoing investigation. now the details remain a bit sketchy. we understand that everyone involved continues to have access to legal counsel, none of their assetshave been frozen there is a bigger question here about whether or not this is actually going to scare off all of that foreign direct investment that the crown prince understands he needs to change this economy the pace at which the son of the king has moved over the last two years with social, political, economic reforms the young people in saudi arabia generally are very, very positive on the things that he's been trying to do. think about it, you have half of a population under the age of 25 and with everything that he's done so far in terms of women driving, this access to entertainment, something that hasn't been seen in saudi arabia in more than 30 years, they're very bullish on this, very excited about the prospects for the future what we've seen is not just a power purge but it's also, of course, about sending the right message to the international investors. part of his, of course, the optics surrounding the saudi aramco that this is a country that is free of corruption and can be very trans parntd as well it's about solidifying his power base carolyn? >> you raise some important points i want to get inside with the analyst at the economist intelligence unit. thank you for joining us on this very important topic we have a lot of important stuff happening in saudi arabia. hadley made this point saying this is not just political, this is personal. this is about sending a strong message to the international investment community agree or disagree? >> so i think there are three key messages here. the first one is to fellow members of the royal family. you have your powerful crown prince that is being groomed to become king one day and sooner or later this will happen. so with the arrests i think prince waleed got a lot of media press out of this. i think the most significant arrest is ben abdula now you have strong control over important branches of the milita military that's one message the second one is to the public. as you know, saudi arabia is suffering fiscal pain and it's taking a lot of fiscal measures to put the budget on balasz much as possible. therefore, it has lifted subsidies partially. it's planning to roll out value added taxes so there needs to be a message that we are all going to share this together and the third message, as you said, is to the investors. next year you won't have the ipo of aramco. there needs to be disclosure of balance sheets, et cetera. saudi arabia was ranked 62nd on the transparency international index. >> pretty low. >> it has to compete fiercely with countries like qatar, which ranks 31st, countries like the uae which ranks 24th but this is a start. >> the crown prince is walking a tight rope here because it's a bit of a balancing act trying not to scare off investors, foreign investors who are supposed to be investing heavily into, for example, the big saudi aramco ipo on the other hand, he wants to make sure that he consolidates its power to continue that reform drive what should an international investor think about it right now? is this something that will pay off in the longer term but in the shorter term you should be cautious >> if i am an international investor looking to enter the saudi arabia market, and, granted, the saudi arabia market is a challenging one, i would watch out for things such as political risk, reputational risk, being involved with local partners that are politically exposed. conduct due diligence. this is not to put up investors but this is north to get to know the system as you enter the market gradually. >> you also said this is the second reason you cited as to why the crown prince did this. this is about talking to the population, population which is very young demographics clearly in favor of the young people are they unilaterally in favor of this? what has the response been from the street >> everything i've seen so far in the saudi media and i understand it is tightly controlled i do pick up the sentiment from the business community, from the public as well that they are in support of fresh blood in the saudi leadership and they do view the corruption, anticorruption campaign as something that sends them a message of comfort they need to see this. i'll give you an example the economics -- the king abdullah economics this is something that has went through four master plans in order to reach the stage of execution. meanwhi meanwhile, money is being spent. so there is a perception to the public that there needs to be more effort on corruption, and this is a start. >> maybe they thought it was long overdue, but what about the other side is there a risk of reprisal, risz being of retaliation in a sense from the more extremist part of the population and part of the military, for example >> look, you know, i've read a lot over the last 48 hours that suggest this is all about score settling i cannot vouch for that, but at the same time i have not seen signs of score settling. i saw prince waleed on this channel a month ago speaking very favorably of the domestic policy agenda so at least i'm not seeing signs of that in terms of public backlash, i think what happened serves them in the opposite direction. the military now with the removal of the national guard minister, also the navy commander, this man has more power over vital branches of the military. >> in practical terms, what happens to all the princes and officials that have been arrested and are staying in a glitzy hotel, the ritz carlton, that's where we saw a major investment conference happening a few weeks ago? what happens to them their accounts are frozen but should they be looking at any major implications >> i think it's too early to tell because the investigations are still ongoing. but this will be the litmus t t test if you see court action against some of the individuals, if there is strong evidence to follow the corruption allegations and there are penalties following that, this would implicate some of them. >> muhammad, thank you for your insights analyst at the economist intelligence unit. want to show you how oil prices have been reacting to the events in saudi arabia over the weekend. we're seeing a little geopolitical risk premium for wti crude which has crossed the 56 level for the first time in more than two years. just back below that but up by 50%. half of 1% also for brent crude. changing hands at 62.39. sawudi arabia has intercepted a ballistic missile aimed for riyadh they blamed it on iranian support saying the rocket launchers were made in iran. in a statement saudi arabia said it considered the launch as an act of aggression by the iranian regime and that the act could, quote, rise to be considered as an act of war against the kingdom of saudi arabia. and we have more events unfolding in saudi arabia over the weekend. the saudi prince is among the dead in a helicopter crash in the border near yemen. an investigation into the crash that killed the prince and everyone on board is underway. we'll bring you more from the middle east with an interview with the president of egypt abdel fattah el sisi make sure you don't miss that important interview. trump takes flight the u.s. president's visit to asia has barely begun and it's already making waves around the world. we'll be live in tokyo and seoul in just a few minutes. building a website in under an hour is easy with 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control over sprint and shares in altice up after it announced it will sell mobile services on sprint's wireless network. at least someone is doing a deal with sprint. altice will provide voice and data services in the u.s it did not provide a time line on a planning note, we're live from the conference tomorrow they'll speak with those he in industry spaces including at&t ceo john donovan and wwe ex executive vice president paul will he ves being or hhh as he is known inside the rings. make sure you do stay tuned for those important interviews let's get back to the earnings we saw today. not all of them are great. shares in vopak down sharply the dutch oil storage company fell after it posted lower prices >> we are storing oil products, which40% of our business 60% of our activities are related to other markets such as bio fuels, renewable products, et cetera. coming back to the complex oil market structure, what we see in the fuel oil market is that because of new legislation, so-called final 2020 where we aim to reduce the use of fuel oil with high sulfur levels, it has created a lot of uncertainty with the oil majors and the traders as a result of which is a reduced need for storage at this particular moment. >> shares of postnl jumped which was boosted by sales from ecommerce. they saw increases in parcel volume and operating income as they reconfirmed its full year income target. and u.s. president donald trump is currently in tokyo. part of a five nation tour where he will also stop in south korea, china, vietnam and the philippines. trump and the japanese prime minister shinzo abe held a press conference where the increasing threat from north korea and trade were at the top of the agenda we've got reporters on the ground across the region with the latest we're live in korea and tokyo. i thought that trump sounded pretty conciliatory. maybe a bit of a surprise given the tough rhetoric he sounded before >> yeah, you're certainly right about that you know, so much has been made about the close relationship between prime minister shinzo abe and president donald trump this was a day when we saw the tension between the two countries rise to the top, especially as president trump himself went right into the heart of that talking about the roughly $70 billion trade deficit between these two countries earlier in the day in his words he said that japan had been winning forfar too long and specifically he singled out the car industry talking about the trade imbalance and what he thought were unfair trade practices that were lobbied against american car makers trying to import cars into the market as you pointed out in the press conference, he was much more diplomatic essentially saying we'll have to negotiate that out in a very friendly way he told prime minister abe that he believed progress was being made on trade. >> as president of the united states, i'm committed to achieving a fair, free, and reciprocal trading relationship. we seek equal and reliable access for american exports to japan's markets in order to eliminate our chronic trade imbalances and deficits with japan. we're working on that. >> reporter: on the issue of trade, japan had also been looking to stall, perhaps, discussions about a bilateral free trade agreement between these two countries, largely because japan's goal has been to get them back into the tpp president trump silenced any of that saying that's an agreement between the u.s. and japan we'll have more in trade than anybody thought in tpp on the issue of north korea, this is a subject we have seen the two countries to go out of their way to show they are exactly on the same page prime minister abe made some news in the press conference talking about additional sanctions for tomorrow he talked about japan taking on a larger role here in the region on the issue of north korea, which is certainly likely to raise eyebrows over in south korea and china as well. also, prime minister abe addressing those reports that the president actually asked shinzo abe essentially why japan had not shot down those missiles -- north korean missiles that flew over hokkaido the prime minister saying that he will be looking to ramp up its defense capabilities japan will be willing to shoot down any missiles. the prime minister is going to be purchasing massive amounts of military equipment from the u.s. >> a kekiko, thank you so much that terry, what can we expect from south korea? the u.s. is experting massive pressure from north korea. how can trump up the ante once he's there >> reporter: well, he's widely expected to send a similar kind of message that he's been sending and also he sent in japan today and yesterday to basically calling on the international community to join washington's campaign to maximize pressure on north korea. ahead of it, there are u.s. strategic bombers carrying out ariel drills that's coming to south korea certainly there has been somewhat of a meeting of the mind or something that could be considered as a gift, as a welcome gift ahead of the visit to south korea the south korea government in fact just after midnight announcing its first unilateral sanctions on north korea the first for the moon jae-in administration he was saying before he was a presidential candidate that he would be willing to go to north korea and hold interkorean dialogue once he becomes the president. when we're looking at the difference or the discrepancy that we saw in these two leaders when it comes to their north korea policy, certainly a bit of a narrower gap these days we're seeing in the meantime though, speaking of reception, we've seen street demonstrations against as well as for the u.s. president's trip here basically some controversy or discrepancy in their opinions in terms of his fiery rhetoric as well as his security policies. carolyn, back to you. >> thank you very much for that. and former trump national security adviser michael flynn could be the next big target of special prosecutor robert mueller as the russian meddling investigation intensifies. we go to nbc news's kristen welker. >> reporter: the legal vice may be tightening on michael flynn multiple sources familiar with the investigation tell nbc news federal investigators have gathered enough evidence to bring charges in their investigation of flynn and his son michael g. flynn the elder flynn was fired after just 24 days on the job for lying about his contact with the russian ambassador mr. trump has downplayed any connections between flynn and russia >> i do think he's a fine man. >> reporter: under scrutiny, flynn was paid nearly $34,000 to speak at a 2015 moscow gala and seen sitting next to the russian president vladimir putin while he was informally advising the trump campaign sources indicate special counsel robert mueller is narrowing in on the lobbying effort and whether he laundered money or lied about his over seas contacts and whether flynn tried to remove a chief rival from the u.s. to turkey in exchange for millions of dollars. sources confirm flynn's son, who worked on the trump campaign and briefly on the transition, could also face charges. >> if michael flynn -- the elder michael flynn were to cooperate that could save his son and potentially limit any consequences that he himself faces. >> reporter: it's the latest chapter in the russia probe and comes after indictments last week of trump's former campaign chair, paul manafort and rick gates. former trump volunteer campaign adviser george papadopoulos pled guilty about lying to the fbi about russian contact. mr. trump insisting on friday. >> all i can tell you is this, there was no collusion. >> reporter: today house speaker paul ryan urged everyone to let the investigation play out. >> we need to let the career professionals see this through the president has made clear he's not going to step down. trouble in paradise. we'll tell you which world leaders pop up in the paradise papers a new set of explosive documents involving off shore investments of some of the world's leading figures. that's all coming up in the second half of "street signs." stick around my name is jeff sheldon, and i'm the founder of ugmonk. before shipstation it was crazy. it's great when you see a hundred orders come in, a hundred orders come in, but then you realize i've got a hundred orders i have to ship out. shipstation streamlined that wh the order data, the weights of , everything is seamlessly put into shipstation, so when we print the shipping ll everything's pretty much done. it's so much easier so now, we're ready, bring on t. shipstation. the number one ch of online sellers. go to shipstation.com/tv and get two months free. i just saved thousands in less than a minute, i found out how much home i can afford. i like how you shop for loans the same way you shop for flights online. i didn't realize at lendingtree you can save money on almost any sort of loan. i consolidated my credit card debt with a personal loan. i found a new credit card with 0% interest for 15 months. you just shop, compare, and save. and it's all free. go to lendingtree right now and start saving. hello and welcome back to "street signs. i'm carolyn ross these are your headlines saudi arabia's crown prince orders a sweeping anticorruption amount of arrests containing 11 princes including billionaire prince al waleed oil $56 a barrel the saudi crackdown could have big implications for the oil market. president trump vows to work out trade problems with japan as he meets prime minister shinzo abe on the first leg of his tour. >> i'm committed to achieving a fair, free, and reciprocal trading relationship and a tale of two deals. deutsch telecom slides after sprint and t-mobile calls off its talks. good morning, everyone if you're just tuning in, let's show you what u.s. futures are up to at this hour somewhat negative. the dow jones off by 11 and the nasdaq and s&p 500 off by 3 points the s&p and nasdaq finishing the week at record highs despite the disappointing jobs report. when it comes to european trading, we're seeing a little bit of red not too much we have turned around a tad. the xetra dax is only off b by .11%. these two indices hit record highs. the xetra dax has been doing that the ftse 100 was held with the big slide in the account sterling the cac 40 is off by 0.2%. when it comes to the fx markets, the dollar is coming off its biggest weekly rise of 2017. i'm talking about the dollar index which rose by 1.3% last week, so it seems like investors are probably taking a little bit of profit here we're seeing the dollar come up stronger for 0.15. the pmi were buying large without any major surprises even though eurozone growth has lost a little bit of momentum in the month of october it's still pointing to a fairly strong start to the fourth quarter. now ecommerce secretary wilber ross has been revealed to have business links to close associates and family of vladimir putin the ties were revealed in the paradise papers. these papers originated from a bermuda based firm the commerce department said ross was not involved in the decision for the company to engage adds that he did disclose his holdings and recuses himself from decisions involving trans oceanic shipping vessels nbc's rich engel has more. >> reporter: nbc news was given access to a trove of documents leaked from a law firm in bermuda. they were leaked with german newspaper and analyzed by the international consortium of investigative journalist the documents connect secretary ross to an oil company called sibur which is owned by russian oligarcs >> i'm calling for an investigation that will tell us on the committee and tell the american people how we were misled if this information, in fact, was concealed as appears to be. >> reporter: misled, the senator says, because during his confirmation, ross, a billionaire investor, declared that he had divested most of his holdings. >> you did it to avoid any conflict of interests, correct >> that is correct >> reporter: but the leaked documents show that ross continues to own through a series of shell companies a stake in a shipping company called navigator and one of navigator's biggest customers is that russian oil firm sibur owned in close part by close associates of putin who were targeted by sanctions. daniel says this all raises concerns >> quite apart from whether it's a sanctions violation, like it doesn't pass the smell test. >> president bush's chief ethics advisor agrees >> that's an unworkable conflict of interest. he can't do that he needs to choose between the shipping company and his job. stay tuned we'll be speaking with wilbur ross that is a first on cnbc a little bit later on today. now at least 26 are dead and many others wounded after a gunman opened fire in a baptist church in texas on sunday. investigators say the shooter was later found dead of an apparent gunshot wound after fleeing from the church. authorities have not identified a motive and they say there's no clear connection to a known terrorist group. president donald trump expressed grief for the victims. trump called the incident horrific. >> our thoughts and prayers are with the victims and families of today's horrible and murderous attack this act of evil occurred as the victims and their families were in their place of sacred worship. we cannot put into words the pain and grief we all feel and we cannot begin to imagine the suffering of those who lost the ones they so dearly loved. >> nbc's jay gray is live from sutherland jay, what do we know about the shooter? >> reporter: well, carolyn, at this point as you talk about, no solid motive in this case. we know investigators have looked through his car where he was found dead as well as his home and they continue to try to piece together any evidence they can find to find an answer to that question of why we know that the shooter in the case, devin patrick kelley was 26 years old, that he had been dishonorably discharged from the air force in 2012 after being convicted of assaulting his then wife and child he spent about 12 months behind bars as a result of that conviction and had lived in nearby cowal county. there are no direct ties that we know of at this point between kelley and the church that is just behind me here though there is some indication that family members of his may have been involved in the church at some point. carolyn, all of this a part of that puzzle that investigators are trying to put together and one that is going to take some time, they say. >> jay, thank you so much for that update. now still coming up on the show, we're live from the cbi conference in london where british prime minister is scheduled to speak to the u.k.'s top leaders about brexit we're back after this short break. some air fresheners are so overwhelming, they can... send you and your family running. introducing febreze one for fabric and air. no aerosols. no dyes. no heavy perfumes. it cleans away odors for a pure light freshness... so you can spray and stay. febreze one, breathe happy. ousted catalon leader and four of his ministers have been granted conditional release. pudgemont will have to be in court within 15 days he turned himself in after spain issued an arrest warrant for rebellion and misuse of the funds. italy's coalition has a narrow lead over the 5-star movement in sicily that's based on vote count the center left coalition is likely to finish a distant third. sicily's vote is often seen as a bellwether of next year's general election in italy. claudia has more on that story from milan claudia, what does that mean for a potential comeback for mr. berlesconia. >> he has used this campaign in sicily as a first step in the broader campaign for the general elections that will be held in 2018 there is no doubt there and there's no doubt that this campaign was definitely successful as it looks, according to these projections that you were talking about and as mentioned, the candidate is expected to win these elections. these data are not final but it is looking that way leading the second position which is being held by the 5-star movement. the center left party is coming in at 19.5 so there is no question that the real news here today is that the democratic party will have to regroup in order to face the national campaign in a little bit of a different way remember, historically they have a weaker position in sigs sicilu certainly this loss today is going to require them to regroup and rethink. so as of right now in this vote that had a voter turnout of 46.7% of the 4.6 million eligible voters, it is -- there is no question that it is a win for the center right but we will get more official data later thank you. >> claudia, thank you so much for that. theresa may is expected to reaffirm her commitment to a brexit transition period when she addresses business leaders at the confederation of british industry leaders conference. she will intend to play down concerns of a cliff edge brexit adding that a transition period is crucial to brittain's future success. a survey by the cbi says 60% will trigger their brexit contingency plans by march of 2018 if no transitional period is agreed upon speaking to cnbc earlier today, carolyn fairday stressed a need for togetherness among the cabinet. >> it's a very interesting world we're living in from that point of view. today we have on our platform the first time the prime minister of the leader of the opposition and the leader of the tuc, the trade unions. i think that does say something important about belief and unity. we are facing two enormous changes in our country one is around brexit and technology transformations so, yes, very much welcome that we have significant meeting lines with the opposition. >> certain elements of brexit, is that something that gives you pause for concern or -- >> i think it gives us a sense of optimism around the commitment of this government to put in place what we need for a strong industrial strategy more than -- more than 90% of firms say getting the right industrial strategy would raise living standards in this country and that's the prize infrastructure, innovation and skills these are the areas where we need to make real strides in the u.k. >> but others are saying brexit. with brexit gone, what is the feeling that government needs to grow up and settle its differences and we're seeing that clearly between the chancellor and prime minister. i wanted to know as -- >> unity is one of the most important things i think there are three unity clarity and urgency. unity of the government voice, single cabinet position is absolutely vital we need to see that in spades going forward. and then we need broader unity between government and business to deliver some of these very big challenges for our economy it's a very important time for people to be working together and not apart. >> willem joins us live from the cbi conference in london >> we have the president of the cbi behind me talking. in a few minutes we'll be hearing from the prime minister, theresa may. i'm joined by duncan logan who's the ceo of rocket space. he's a tech facilitator if you will we've heard a lot about brexit this morning they have some numbers out, cbi, about uncertainty. what impact do you see uncertainty having on tech in the u.k. >> in the u.k. we've got to deal with the entrepreneurial end of the market, the startups and so forth. for larger corporations it's a lot harder to deal with but for the startups and more agile companies, uncertainty can lead to opportunities. >> you're looking to park a few hundred million in an idea, would you do it in brittain versus -- >> i think anyone with is that kind of money is going to be looking for a global company they have to think of the global marketplace. so i think there is uncertainty for investing in u.k. companies although the stats show that there's more west coast investment coming into the u.k. now than ever before i think from the u.s. there's definitely some uncertainty about what's happening with brexit and they're still trying to understand what the proel process is, but, you know, i think any successful tech company now is looking at a global platform of which the u.k. is just one component. >> one of the messages from the cbi and today is that brittain needs more innovation, it needs to invest in skills. i wonder when you look at the tech sector particularly in the u.k., they don't have that many massive global firms why do you think that is >> well, i think the u.k. is like every other country out there. it needs to move from its industrial past to its digital future and both for the ftse 100 and all the major companies in the u.k., they have to make that transition or they're going to be replaced by digital startups. >> is it like this is sort of the last minute they can do so are they running out of time one of the things you're hearing about from the cbi, they have this strategy where brittain jumps ahead of some of its peers. do you see that happening? >> i think it absolutely could happen i think brittain is a -- you know, compared to some of the large economies out there is fairly agile it's got a lot of moving parts at the moment. i think it really needs to take that sort of opportunity and take that leadership to really push forward with the digital agenda and to make sure its corporations get into the future and get working with data and ai and all of these others, technology a lot of that is going to be in conjunction with startups. you know, we increasingly see large corporations using startups to drive their digital agenda and i think that's a great thing for the u.k. too. >> domestically on the tech side, where are the opportunities do you think which sectors do you think are the most ripe for expansion, exploitati exploitation, whatever you want to call it >> wow i think we're seeing it right across the board when innovation came across the market it started with the media, you know, tnt, this sort of area. i think we're now into the regulated industries, finance, medical, education you know, i think -- but from the block chain to artificial intelligence to transportation, mobility, there's just innovation just happening at a greater cadence right across the board. >> you mentioned block chain there. i want to ask you about crypto currency you've been a big promoter of expanding that area. >> yeah. >> and trying to give opportunities to startups in that sphere. i just wonder every week it seems like we hear an announcement from a regulator and last week it was the cme saying they're going to have the futures market you see the volatility in the market is that going to stop one day? >> eventually. eventually it will, but i think we are still so, so early in the crypto currency marketplace. you know, regulators are just getting comfortable with it. we have china making its movements in there so i think anyone early in any industry is going to see enormous amounts of volatility we're seeing that today in the crypto currencies, but i fundamentally believe in the underlying technology for block chain. i fundamentally believe in distributed ledgers, distributed systems. i don't think it's something that a government or community could shut off now it's out there it has a great future. >> thank you so much that was duncan logan. he's the ceo of rocketspace. he's visiting from the west coast of the u.s theresa may is speaking. >> i'm sure you'll be listening intently thank you so much, willem. house speaker paul ryan says lawmakers are weighing a host of ideas as they begin revising the bill to overhaul the u.s. tax code ryan said there is an active conversation with house members and he expects the outline of the bill to remain new estimates are coming in in the meantime for how much of the republican tax overhaul could add to the federal deficit over the next decade. ylan mui reports. >> reporter: we have a price tag. $1.78 trillion over the next ten years. that's according to the joint committee on taxation. it means that this tax bill fits within the special reconciliation rules that republicans want to use to fast track this legislation the single biggest line item in this bill is cutting the corporate rate to 20%. originally this is going to be temporary to save money, but sources tell me conservatives revolted when they found out house ways and means committee chairman kevin brady changed course overnight. >> we worked to make it permanent. we are convinced for our small businesses and companies that have to compete around the world that permanence really matters. >> reporter: that 20% rate is a red line for president trump he was also against any changes to 401ks republicans did drop that from the bill brady told me he spoke with the president almost every day, sometimes multiple times a day, as the committee was writing this legislation. >> president trump's all in on this tax cut and jobs plan he and his team have been very engaged in both the drafting and framework and where we want to go. >>. >> reporter: the negotiations are not over five republicans are signaling early opposition to the bill because it doesn't do enough to preserve the state and local tax deduction. brady is staying at the table on this issue and he hopes he does, too. i'm ylan mui for cnbc business news, washington. want to take you back to the cbi conference happening in london we are bringing you live pictures of theresa may's speech at the cbi conference. let's take a listen. >> expected to create 200 skill jobs in the new factory forming a 30 million pound investment. with support from the department of international trade has won contracts worth 1.4 million over the next five years and bus manufacturer alexander dennis secured a 44 million pound deal to export double deckers to mexico city supporting hundreds of jobs in fulkur and gilford. here in london google will also open a new london office with 1 billion pounds of investment as we celebrate this good news, we should keep in mind what it all really means it's not simply numbers on a balance sheet but an investment in people's livelyhoods and an economic security across brittain it is a vote in the u.k., in our talents, our skills, our infrastructure and our ideas and the reason we want a strong and thriving economy and successful businesses is because we want to help more people to lead full and happy lives with good quality jobs and rising living standards to build a country that works for everyone and an economy that is fit for the future. for the last decade the biggest economic challenge facing the government has been dealing with consequences of the financial crash of the great recession which followed it. thanks to the innovation and entrepreneurship of british business, the hard work and sacrifice of the british people and the government's clear economic plan, that situation has now been transformed the deficit is being cut by over 2/3 and the economy has grown for 19 consecutive quarters since 2010 over 3 million more people now have the security of a job. there are nearly a million fewer workless households, 3.4 million apprenticeships have begun income level is at the lowest level since 1986 the number of people living at absolute poverty is at record low. british businesses, indeed the cbi itself, can take their share of credit for what brittain has achieved in the years since the financial crisis but our job now is to look to the few fewer. if the last ten years have seen us weathering the storm of the financial crisis and rebuilding our fiscal and economic position, the next ten years must see the beginning of the new chapter in the story of the british economy because for all our progress there is still a long way to go so today i want to talk about my vision for the stronger, fairer, and better balanced economy we need to build. the conservative government's plan to deliver this is very clear. >> and just a quick recap of today's top stories. saudi arabia has launched a major crackdown on its establishment. crown prince has led an anticorruption purge arresting at least 11 saudi principles, 4 kurd ministers and many former ministers. the crackdown is seen as crown prince muhammad's biggest move as he pushes ahead with the kingdom's ambitious reform program. quick look at u.s. futures last time we checked they were a little bit lower there you go, the dow jones off by 10 points after closing out another record high. the nasdaq off by 2.5 and the s&p 500 falls by 3.5 that's today's show. i'm carolyn ross "worldwide exchange" is next european markets, slightly underwater we have a lot of earnings to contend with in the middle of the earnings season for the third quarter. we will bring you much more of that throughout this week. have a fantastic trading day, everyone see you tomorrow bye-bye. hi, i'm the internet! you know what's difficult? armless bowling. you got this, jimmy! you know what's easy? building your website with godaddy. pick a domain name. choose a design. you can build a website in under an hour. now that's a strike! get your domain today and get a free trial of gocentral. build a better website in under an hour. i love you. a developing story billionaire saudi prince al waleed bin talil has been arrested in riyadh. deal or no deal. unsolicited offer for qualcomm meantime, sprint and t-mobile are ending merger talks. plus, president trump begins a major five country tour in asia we'll bring you the highlights it's monday, november 6th, 2017. "worldwide exchange" begins right now. ♪ ♪ good morning a

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