From london. Im francine lacqua. The chinese president begins a visit to the United States today. It is his first as chinas leader and comes with growing tensions over cyber hacking. New data from their most used suggests that the worlds secondlargest economy is stabilizing. We will have more on that in a moment, but first lets get the latest on president xis trip to the states. Cyber security seems to be a big problem. They will talk about the economy as well. They certainly well. The whole issue of cyber security, francine, and Cyber Espionage will probably overshadow this meeting as one of the most contentious issues they will be discussing in washington. Between problem lies the way that you define what is acceptable as espionage. The u. S. Thinks if you do best be large, Cyber Espionage, for the purpose of military information or political information, that is acceptable, as it has been when we have seen governments in states spying on each other in order to get a leg up in milita
Billion euros. I do not know where the figure came from, but they will be readjusting. Do i understand that i cannot buy a diesel vw in america right now . They basically shut it down. Vonnie yes. They have recalled diesel cars. The funny thing is the north american head was speaking last night. Clarification, i learned to etle, my a vw be father had a vw rabbit. There is our clarification on vw. A busy morning. Here are top headlines. Here is vonnie quinn. Vonnie chinas president , jinping arrives in washington. He has defended the way he has handled the chinese economy. He said the Government Intervention was needed to deal with systemic risk. More problems for volkswagen. And face billions in fines repair costs for cheating on federal air pollution tests. The Justice Department is investigating vw for possible criminal violations. That could lead to charges against the company or its employees. The head of vws operations in the u. S. Admits the company screwed up. Ande must fix thos
To the pulse live from london. I am Francine Lacqua. Us. S it is a big day for it could be a monumental day in terms of the jobs report. Analysis as the case of whether or not janet yellen will pull the trigger in december could be made after todays jobs report. Francine bank of England Governor Mark carney weighed in on the debate. He spoke to us exclusively yesterday and expressed confidence in the fed. Governor carney the u. S. Economy is performing quite well in a new normal sense. This is not the u. S. Economy of precrisis years. What matters most to our timing is the reasons why u. S. Monetary policy adjusts. So we would expect u. S. Monetary policy to adjust because that economy is continuing to grow. There is reflation. This recovery in the u. K. Started after the recovery in the u. S. We are catching up. We are now at a point where we have more or less leveled in terms of too much of growth. We will take our decisions. We are informed by what happens in the u. S. It matters fo
Will bring you the headlines through our surveillance today. Impressed with how quickly the headlines are moving at a rapid speed. Lets get the bloomberg first word news. Vonnie it is day three of france president s Francois Hollandes push against the Islamic State. Today he talks with german chancellor Angela Merkel who says germany is ready to strengthen its military commitment to relieve a french forces. Belgium is searching for another terror suspect that was seen driving a car with one of the suspected organizers of the paris terror attack two days before the attacks occurred. So far belgium authorities have arrested five people. The unprecedented lockdown of brussels is slowly coming to an end. Nato is ordering deescalation after turkey shut down the russian warplane. They called for further contact between turkey and russia. In new york russian and u. S. Diplomats met. According to a Russian News Agency russia would be willing to accept a new agreement on airspace if nato came u
Speak the language in a statement and remove a considerable time frame. The statement and an updated forecast is due out at 2 00 p. M. Eastern today. A half hour later, chair janet yellen will field questions from the media. Beyond the fed, the ruble and oil. The russian currency dropping about 60 against the dollar this year. Cnbcs Geoff Cutmore has made its way to moscow and will join us there in just a minute. He is looking at russias move to sell the currency. As for oil, worries about a surprise pressure in prices, france is now down nearly 20 since opec decided to keep rates steady late last month. Add all these stories together and we have a very jittery market. The dow has shouldered triple gains and losses in the session. The blue chip index swinging 700 points yesterday alone. The dow, nasdaq and the s p closing at their lowest levels since the understand of october. Just a little after 6 00 a. M. Is how we stand right now. The futures look like they are headed up. But as we