President of the United States is the president of the United States. He can do whatever he wish and he is not accountable to me or anybody in this room. Renault shares fall to the bottom of the 600 as reports emerge that nissan is gearing up for a potential divorce. The pound falls below 1. 30 against the dollar after the bank of Monetary PolicyCommittee Says he would vote for a rates cut if there is no improvement in the uk Economic Data welcome to the show, everyone the most Senior Commander of irans revolutionary guard was called to a closed session of parliament after tehran admitted it mistakenly shot down a Ukraine InternationalAirlines Passenger plane. There were no immediate details asked of the official but iran blamed its air Defense System for the crash, which killed 176 people the announcement has sparked protests across iran and protesters have called for the resignation of iran saying they tried to cover up involvement in the crash. Dan is in abu dhabi. What a difference a couple of days makes the entire population was centering around the killing of Qassem Soleimani now a lot of anger at the government protests picking up similar to scenes we had last year. Absolutely. Very turbulent weekend in iran and in tehran, in particular this is one of the most significant uprisings weve seen in iran in more than a decade. Of course, we saw those protests turning violent at the weekend with domestic anger really mounting now over the accidental downing of this ukrainian passenger jet, which killed all 176 people on board. Many of them iranian across the weekend we saw riot Police Firing tear gas at protesters in the capital. Iranians chanting against the Supreme Leader and the powerful revolutionary guard. Irans leaders initially denied the crash. They waited three days for all of this to come out, insisting this was a routine flight that went down due to mechanical problems after takeoff after mounting evidence and pressure, iran was forced to admit they shot down this 737. Irans president rouhani has accepted responsibility. Weve seen him commenting on this recently. He says he deeply regrets this disastrous mistake but at the same time the iranian leadership has been deflecting blame back towards the United States. What we saw was the iranian leadership, in particular the Iranian Foreign ministry saying the corruptive presence of the u. S. And its cohorts is behind this recent tension. Now, of course, this downing of the ukrainian jet also came at a time of great crisis in iran it was just hours after iran launched dozens of missiles at two air bases housing u. S. Forces in iraq in response to the u. S. Killing of Qassem Soleimani, so clearly the situation on the ground was very volatile there were a number of moving parts, a number of quick decisions that need to be made of course, this ended up resulting in complete disaster particularly for the iranians that were killed and also for the 57 canadians that were on board. Now weve seen the International Community in a desperate search for answers as as a result of this at the same time, u. S. President donald trump taking to twitter to comment on this in both english and in farsi if youve seen his feed this morning, he says the world is watching and, more importantly, the usa is watching. Clearly, some kind of veiled threat there from the United States as well ensuring this is handled in the most appropriate way. At the same time as well weve also seen ukraine coming out just recently demanding that tehran pay compensation for this crash. It, too, now coordinating with canada because of the significant loss of life among canadian citizens we saw on board the aircraft, coordinating with the uk and with sweden, which all had citizens on board this plane clearly, the situation in the middle east still very fluid at the moment, guys obviously the situation in iran but also the situation in iraq and the broader contagion effects weve been seeing in the weeks is bringing this to a head what happens next in this iran u. S. Quagmire really remains to be seen at this point. Dan, thank you so much for your insight and clarifying the situation for us thank you very much, dan murphy in abu dhabi. Saudi arabias Energy Minister says he wants stability in the middle east speaking to hadley during a panel in the kingdom, he added u. S. President donald trump can do whatever he wishes when it comes to International Security. Now hadley joins us live hadley, thank you for joining us i had a listen to your panel earlier this morning interesting to hear the saudis weigh in on President Trump and his actions over the last few weeks. Did the Energy Minister have anything specific to say about the events in iran reporter this isnt the first time ive sat with the royal prince we brought you fikts first on cnbc live following those attacks, that significant damage done to the aramco facilities. A lot of questions at that time about how quickly they would be able to get back to the production levels weve seen prior to those attacks not the first time ive asked his Royal Highness about what all this means for the security of the region, for the security of saudi arabias Oil Infrastructure again, he was really trying to emphasize that when it comes to energy, the markets bind the world together he said, when it comes to President Trumps actions in this region, the president is the president and he can do whatever he wishes listen in to what else he told me this morning. The u. S. Is a partner, a Strategic Partner and have a big role in terms of security, International Security and were leaving it to our friends of the u. S. To conduct themselves in the manner they see fit in attending to a situation like this. With that in mind, whats your outlook for this year where is the industry headed if youre asking me and asking our colleagues here, we would like to have a stable oil market, Sustainable Growth in terms of demand, Sustainable Growth in terms of supply, predictability and making sure that we are focused and attending to the proper challenges of the industry, which is how to produce oil and energy in the most efficient and effective way. How we can manage all of that with proper Balance Sheets and how we ensure that demand will grow without fear that this growth will cause any major negative impacts on the environment. In other words, Sustainable Growth of demand in environmentally safe and sound way. Reporter his Royal Highness reiterating the point weve heard from saudi officials throughout this crisis, if you will, since the start of it back in the summer of 2019, which is essentially the u. S. s Strategic Partner in this region when it comes to the Energy Markets, this is a global issue, not just an issue that affects saudi arabia and the arab countries but everyone has a role to play i thought it was interesting when the Royal Highness, when we were talking about geopolitical volatility, we wanted to bring it back to the u. S. Shale industry and what that means for opec plus. In march theyll be meeting in vienna i asked him specifically, are you planning to extend the cuts . He said thats a decision well make on site he said we could go one way or the other way. We want to send the best signals to the market in terms of that stability so we can invest down the line in terms of infrastructure it signaled to me, at least the fact weve been talking about the potential for more geopolitical shots we saw secretary of state mike pompeo tweeting overnight in response to what seems to be more iranian attacks on iraqi facilities as a result of the death or assassination of Qassem Soleimani. Really trying to signal there that they built in that volatility into their protections, they built in that geopolitical volatility. Whats concerning them is what happens next with regard to the u. S. Shale industry. Interesting to talk to the prince, the first of the year. Tidbits well bring you through the year a lot of big players on the stage. Sheikh mohammed, ben khalifa the oil manager from bahrain. Its interesting in terms of what we saw with oil wti is trading below 60 a barrel many people started talking about 90, 100 when dpthese geopolitical concerns last week. I know that on the panel you had other executives there you had the ceo of total exxon what do they have to say about the direction of travel for oil from here . Were they surprised some of the jump start movements weve had over the beginning of the year so far reporter i think theres a general sense of acceptance that were going to see this geopolitical volatility impacting oil short term, these pops in prices over the weekend i sat with Global Energy forum and spoke to Industry Experts essentially those folks were saying to me, we know we cant sustain another 100 per barrel price hike long term we know thats not something we can take on as an industry its pad for us as suppliers, its bad for the industry as a whole. We hope that what happens in opec and the opec partners in the opec plus agreement will be able to pad it out, if you will, to keep the industry itself from these kind of shocks at the end of the day, one thing they know beyond the fact theyre keengping a very, very close eye on what happens with the shale industry but also supply and demand and the impact over the next 30, 36 months, the potential for recession, what will happen with the u. S. Stock market, how likely that will be to impact their decisions to keep investing theyre, frankly, have to answer to their shareholders. When they talk about what happens over the next year to two years in terms of their outlook, they were keen to point out that part of this will be revolving around the decisions of policy makers that has a lot to do with the u. S. President ial election whether or not well see someone from the democratic side taking the floor, whether Bernie Sanders or Elizabeth Warren. Well bring you comments from the exxonmobil ceo as exactly what the contingency plan is if the United States moves away from fracing they want to focus on the fact theyre being pushed by poli policymakers towards renewables, in terms of Climate Change the problem is being able to strategically plan when you dont know exactly what the u. S. Shale industry is going to look like in the next 16 to 18 months. Hadley, thank you so much definitely look forward to seeing pieces from that conversation later on in street signs. Saudi aramco enhanced its flame, largest ipo in history after exercising its socalled green shoe offering to continue offering as long as they remain above the ipo price. 150 million additional shares were sold increasing the revenue to nearly 29. 4 billion. Lets talk about how markets are faring this morning. Of course, friday all eyes were on that job reports coming out of the u. S the headline numbers slightly disappointing relative to expectations coming in at 145,000 versus 160,000 expectation. That led to somewhat of a pull back in wall street. The s p ended the day about 0. 3 percentage point weaker. The dow about 130 points lower, but not before briefly breaking through 29,000, ending the week on friday, just shy of that number over the weekend and overnight weve seen global markets, specifically asian markets actually move a lot higher this ahead of wednesday, that allimportant signing of the phase one trade deal between china and the u. S. That has boosted asian shares theyre now at a 19month high some optimism has been filtering into european stocks as well the heat map is split between green and red. Stocks europe 600 treading on water around flattish but leaning slightly more green as well certainly a big week ahead when it comes to china u. S. Relations. Of course, that u. S. Data as well let me take you to some of the european markets and take a look at how the individual boards are faring ftse up 30 points, 0. 4 percentage point higher. The big news over the weekend is actually one from a macro standpoint, not a Political Development this time around one of the embassy members has indicated that he would be edging closer towards voting for a rate cut at the end of this month, january 30th, if they dont see any signs of the pick up in data worth bearing in mind, 9 30 today we get uk gdp numbers. We may get a hint on what the bank of england may or may not do its giving a boost to the ftse 100. Dax up 500 points, up 13,500 flattish there industrialing seeing somewhat of a boost as well. Cac up 0. 2 . Some Political Developments. Weve get into that, about the Pension Reforms and the government willing to give con senses to the labor units. Were seeing a bit of an uptick in the cac, up 0. 2 Percentage Points in terms of the sector, at the top we have tech stocks 0. 4 Percentage Points in line with rebound in activity we have in asia equities overnight. Industrials up 0. 3 Percentage Points, chemicals slightly in the green. The downside we have autos lots of news in that space weve been watching closely the developments of the story with aston martin that was up quite a bit on friday and off again today theres been a lot of investor interest in that automaker Nissan Renault back in the news after a report suggesting nissan may be pushing for a full breakup of that company of that alliance. Something worth bearing in mind there. Banks down 0. 2 Percentage Points this week u. S. Banks will start their reporting season were there again. Three months pass so quickly in a couple weeks time we get european banks as well keep an eye on cyclical in the next couple of weeks as we get to the earning seasons thank you for that market overview. Well take a quick break but coming on street signs, plugging the gap looking to offload its factory building upt to fill a multibillion euro hole in its Balance Sheet. Im really into this car, but how do i know if im getting a good deal . I tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if im getting a great price. This is how car buying was always meant to be. This is truecar. Some things are too important to do yourself. Get customized security with 24 7 monitoring from xfinity home. Awarded the best professionally installed system by cnet. Simple. Easy. Awesome. Call, click or visit a store today. Welcome back to street signs. Thyssenkrupp is looking to sell its building to fill 4 billion hole in its financial group. They are looking to sell or list its elevator unit. Final bids for the division are due in today however, despite the prospect of a breakup, reports out of germany says they may still plan to revive talks. Were joined with neta an activist getting involved there, huge amount of change at the top. What are investors likely to make of the headlines emerged over the weekend with all of this portfolio change . All of that was pretty much expected dpept with talks to merge the companies to create one big steel giant in germany so far the companies have not denied thyssenkrupp saying theyre not commenting on the reports but clearly they are in favor of a consolidation of the european steel sector because thats the only way forward they were trying to get together with tata steel which didnt go through the regulatory site of the European Union earlier on last year. So, of course, one of the biggest issues for thyssenkru. P is to sell the assets because they clearly need the money. They have a huge debt pile at the same time, they are burning cash because they are clearly not profitable enough. The industrial unit was set to be an asset up for sale all the way long were now hearing that even chinese bidders might be interested its quite an interesting turn because clearly the trade unions have a big say, especially in that specific era area of Business Today is the deadline for those final bids for the elevator business thats a crown jewel for thyssenk thyssenkrupp they need the money to plug the holes in their Balance Sheet many, many private equity players are said to be interested, are said to be bidding. And they will come up with a short list of bidders at a Supervisory Board meeting which is due to be held in the next three days at the company. With that, back to you thank you so much for the latest on that all important corporate story. Keeping it in the auto space. Nissan officials have ramped up planning for a possible split with republican naunault accord financial times. They say the carmaker is pulling over changes to its board and considering a division between its engineering and manufacturing units. The peugeot Family Member told financial newspaper that will own a 6. 2 stake in the com