His facebook Share Holding to charity to mark the arrival of his daughter. Vw declines to comment suggesting it reached an agreement to 13 banks to provide a bridge loan after suffering an s p downgrade. Hi, everybody, welcome back. Yes, you are watching Worldwide Exchange. Let me talk to you about the euro zone inflation. Consumer pricing growing at a mere 0. 1 in the month of november. Thats according to the euro stats so inflation still very, very low. That of course being one of the issues that the ecb is dealing with. It came in a little bit shy of expectations. Were looking at a euro dollar a bit. Thats pushed quite substantially in the last couple of sessions and just to mention as well, the yield reversing a slightly early rise that we were seeing after this week and anticipated euro zone inflation print. Evi want to show you what u. Futures look like early on this morning. Were a couple of hours away but were looking at green across the charts. S p 500 seen higher by 2. 4 points or 0. 1 and the same for the nasdaq 100. This was after yesterday. We saw a rally across the board. All sectors higher with health care leading the gains. Why . No specific reason and shrugging off the fact that we have a very poor manufacturing print for the First Time Since 2012 this print was in contraction territory. The nasdaq 100 saw a gain of 1. 1 and it closed just three points from its all time closing high. European markets are slightly mixed to higher today. And seems like they gained steam since we got that cpi number out of the euro zone which is greater than expected. That seems to be cementing that view. The cac 40 up by a quarter of 1 . The ftse 100 seeing stronger gains of half of 1 . Thank you. Still looking at the inflation data. The fed governor says that the central bank should go slow on raising rates. Speaking at Stanford University she says there might be limits to the feds ability to tighten Monetary Policy when other global Central Banks are loose. Fed chair janet yellen Takes Center Stage at the next two days though she is not expected to give away much about the feds plans at the meeting this month. Yellen speaks to the Economic Club of washington this afternoon before she testified to the joint Economic Committee on capitol hill on thursday. Ted peters joins us. Chairman and chief executive of blue stones Financial Institutions fund. Also he served on the board of the Federal Reserve bank of philadelphia from 09 through to 2014. Good to see you. So if you were still serving on the board, what would you want to see happen now . What do you think the fed should be doing . Well, i think the fed has been late in raising rates. Weve had increased fatigue over the last six months where everybody is ready to go up and keep postponing it. Theyre very data driven as you know. Im almost 100 positive. Rates will go up in december and i would look for probably at least three rate increases if not four rate increases or whatever. The fed wants to get the funds rate up to 350 which would be a normal area for it to be in. Is that so important . Why is that so important . Why do we need to be around 350 . We have just come out of a severe financial crisis which some argue we might not be out of yet. Theres still a risk of recession. Were still seeing a weakness when looking at the Global Growth story. Why is it so important to target that 3. 5 level for example . Well, first of all, i disagree. We have come out of the recession very nicely. Its been a very slow recovery. Normally you hockey stick up a little bit. In this case its very steady. If you look at all of the Financial Data its very steady and always improving. One or two things Housing Starts and they look for Manufacturing Activity or so forth but for instance this month theres going to be in november i think there were 30 to 40 Economic Indicators coming out. In the month of december theres 40 coming out. You have to look at the whole picture and see where were going. The economy is in goo shape and employment figures are very, very good. Unemployment is down around 5 right now. Job creation was very, very strong in october. Sure. 277,000 jobs. Its predicted to be well over in november as well. So things are really a lot better than maybe people think. Are they really, ted . Are they really . Because if you take a look at the ism manufacturing print yesterday that was the weakest print since 2009. The last time the ism manufacturing print was at this level, ben bernanke opened the qe taps further. Should there be a rethink as to whether we move ahead with the first rate hike in december . Absolutely not. Thats one figure. A lot of the other figures are much more positive. I think the fed in general has a lot of pressure to raise rates for a couple of different reasons. One they have been artificially low. The fed is what we call a misallocation of resources. Thats money chasing yield. Youre seeing it in the high yield bond market where you see bonds that used to yield 12 or 13 . Now yielding 6, 7, 8 . Youre getting people involved in deals where it doesnt make a lot of sense. We have to get back to normalcy in a rate environment and maybe im too optimistic but i think the economy is doing fine and coming back well and the unemployment number is probably Janet Yellens major, major target of what she looks at and those numbers are very, very good. Theyre very strong. You have to wonder why the ten year treasury note yield is only 10. 16 if the economy is doing well. Well have to leave it here. Chairman and chief executive officer. Thank you so much for your time. Meantime, u. S. Secretary of state john kerry is holding a press conference at the in a to Foreign Ministers meeting in brussels. Moving on, nato has formally invited them to join the ranks in the alliances first expansion since 2009. Meanwhile reuters is reporting that the head of the Russian FederationCouncil Defense and Safety Committee said russia will join project with them if the country decides to join nato citing the news agency. Yahoo s board is meeting today through to friday to consider whether or not to sell the companys core but struggling Internet Business. Theyre also expected to discuss move ago head with the alibaba spin off despite a plea by activist investor Starboard Value to scrap that plan. Analysts said in the past that the Internet Business could attract private equity firms and media and Telecom Companies or a company like soft bank. The meeting comes as pressure mounts over the lack of progress in Marissa Myers turn around plan. Yahoo shares rising by 7 and after hours trade in germany as well. If yahoo does go ahead with the spin off in alibaba the commerce giant could decide to buy it back but that transaction would likely carry a big tax on yahoo s gains from the alibaba shares. The company would a viceba vice only buy back shares. They rose 1 in after hours tradinand german trade up 1. 5 . Whats fascinating is how the market values yahoo right now. That 50 stake in alibaba is worth almost 30 billion. Now they also have the 8. 5 billion stake in yahoo japan. That means if you take a look at the value of the core Internet Business, its worth nothing. Or, in fact, a negative value. Thats what the market is applying to the valuation. If theres a buyer that wants to buy parts of the asian business they have to deal with the tax implications. Theres no clarity whatsoever on whether a spin off would incur major tax costs or not. Then the issue is do you continue to reinvent yourself or continue to reinvent yourself pushing mobile, video, social media, things like that despite the fact that they havent had the increase in revenues or do they try to sell off the business like youre saying and maybe another Company Might be able to create value out of the structures that are created from within yahoo absolutely. Let us know what you think. Either at caroliyn cnbc or worldwide cnbc. Com. How many shows . 12,000 shows a day . You can also find out more about why investors and shareholders could be getting wary over yahoo . Head to our website cnbc. Com or on email worldwide cnbc. Com. Vw has declined to comment on a report suggesting it has reached an agreement totaling over 20 billion euros. Reuters said 13 banks would offer the struggling car maker a total of 29 billion euros over the next few days. Now this after s p cut the Credit Rating again. They downgrade vw to bbb plus due to weaker Sales Prospects and costs in the wake of the scandal. Anticipation of the fed rate hike runs high and the ecb could be getting ready to unleash qe 2. That exclusive interview coming up in a couple of minutes here on Worldwide Exchange. Hi, everybody, welcome back. If youre just joining us u. S. Futures point higher as janet yellen is ready to speak in washington. Dell is selling assets and the Facebook Ceo Mark Zuckerberg pledges to donate 99 of his companys stock while announcing the birth, congratulations, of his first child. Speaking in an exclusive interview with cnbct spanish economy minister says he has faith in the central bank. Lets get back out to julia in madrid. Thank you so much. Youre absolutely right. He has faith in the central bank but what i asked him was ultimately is he concerned that theres too much expectation baked into the cake here for mario draghi . Listen to what he had to say. I think that its a position that has to be taken by the ecb but i think that, you know, they have been they have increased with respect to t you know, to the targets. And to their willingness and and for sure, Monetary Policy because i think they are doing a very good job and they know perfectly what kind of instruments they have to use. Do you worry that expectations are too high though . Even now . If we look at equity markets and bond markets theres a lot of expectation of further stimulus baked into the cake. Does that concern you . Not at all because i think that i am totally sure that the ecb is right in the approach. And, you know, they will do whatever it takes in order to raise the inflation differential rate. Inflation rate expectations in europe are very low. Especially if you look at the expectations over the next six months, 12 months and i think that well, the ecb has taken some extraordinary measures and that the qe program is an open ended program so im sure that they will take the current positions. And a weaker euro i guess, always welcome. Always welcome but this is not the main reason why the spanish economy for instance is competitive. Always a helping hand but the real reason of the competitiveness is the costs. And this is the main source of competitiveness now. We were able to have a surplus and the Exchange Rate of the euro was 140. Now with 1. 05, now we are more competitive because of the depreciation of the nominal Exchange Rate but evaluation in the case of the spanish economy has worked and has delivered a competitive push to the spanish economy and to the industries. With the help of ecb policy, spain is expected to post the strongest growth of the big four euro zone countries. Were talking more than 3 this year. The key question we have been asking all morning is does this growth ultimately help Prime Minister rewin this election that takes place in three weeks time . Well he has plenty of challenges facing off. Im pleased to say im joined by a member of the socialist party. One of those challenges. The secretary for economic policy. Thank you for joining us this morning. First off, whats your message to International Investors should you win the election in three weeks time . Well, you see, they should be quite confident if we win. We are not a new party, you see . We have a long record. We have governed this country for 80 of the democratic par period. The restoration of democracy happened and the party. We have a totally probusiness party. We welcome investors that want to come here and create jobs and wealth. We will restore the security and give them facilities to come and invest. They can be confident that well welcome them. You precided over the good times but also over the bad times as well. Think about when the Peoples Party took over the economy was in a dire state. How do you convince investors that were not going to go back to that . That youre not going to unwind the reforms put in place in this country. They have to govern this country we had to take difficult decision and yes we made some mistakes and we made for that but we have learned our mistakesment we have renewed completely the party. We have a new agenda and well make it more inclusive. More robust through many measures that will reduce the inequality that we have seen. Inequality a huge problem. Youth unemployment above 50 . Tell me what you would change and do differently about the jobs market. How would you improve that from here . We are seeing that Macro Economic figures are good and most of the jobs that are being created are very precarious. They have come down substantially and were seeing the energy poverty. So at least well change three or four things. First, human capital. We have 2. 9 Million People that have been more than one year out of the market and we need to train them, to reskill them. Second we will force and were growing based again on low Value Services on construction. We have to force them to help our Companies Grow and thirdly Energy Transition. This week is the paris Climate Change and in spain one of the Biggest Renewable Energy Companies is in a huge difficulty because of government decisions against renewable energies. We need an Energy Transition that will not only make this country and growth more sustainable but we create enormous jobs in this great economy. You touch on very important issues there. Great to chat to you. Three weeks out from the election on december 20th. Plenty for all of these parties. Guys, back to you. Thank you very much. Julia joining us there from madrid. Looks nice out. It does. A little warmer than here. Exactly. Still to come on the show, Global Leaders gather in paris to brainstorm about Climate Change. One report strikes a very pessimistic tone. Is the below 2 degree market achievable . Well cross over to the french capitol to find out next. Its easy to buy insurance and forget about it. But the more you learn about your coverage, the more gaps you might find. Like how you thought you were covered for all this. When youre really only covered for this. Hot dog . Or how you may think youre covered for this. But not for this. Whoa no, no, oh , oh . Or this. Or this. Or that. Talk to farmers and see what gaps could be hiding in your coverage. My heaven we are farmers bum pa dum. Bum bum bum bum welcome back to Worldwide Exchange. Were live in paris at the Climate Change talks and speaking to people that have the toughest jobs here. Well come to a gentleman from the Coal Association here. Being villified by many poartie. But we also spoke to the lady in charge of negotiations. Thats the executive secretary and a whole host of issues we spoke to her about but one of the questions i have and i think the world has is what about the verification . What about the legality . Is it going to be binding . Where is the teeth in any deal going to be . Lets listen in to what she said. The teeth is in the transparency. The Environmental Integrity of this legally binding agreement needs to be in the reporting and the verification that they will be reporting and they will be having a pier review process where theyll be seeing over each others shoulder with respect but they will be looking over each others should tore see in aggregate how are we doing along the path. That was christiana who has the get developing and emerging markets on side because theres a lot of mistrust still and some of the negotiations, the leaders have gone. Its the parties from the developing world saying to the developed industrial nations show us the money. We dont necessarily believe if we make these commitments youll give us the money needed by 2020. Were talking about a lot of money. Hundreds of billions of dollars over multiyear period. Perhaps one of the most interesting areas is existing hydrocarbons and how theyre being seen as the sacrificial lamb by many that want the cleaner hydrocarbons but coal is one of the commodities singled out as being particularly dirty and yet its used by developing and developed nations. For instance, by 2040, an extra 2440 coal fire power stations are due to go on around the world and increase only to temperatures as well. I spoke to one of the greatest men here and that was the chief executive of the world Coal Association and i started off by asking him about the hypocrisy of people that use coal