Youre watching Worldwide Exchange, bringing you Business News from around the globe. Warm welcome to todays edition of Worldwide Exchange. Plenty to get through. We start off with perhaps europes most important economic indicator. Its come in 10. 4 in may, below the consensus number which was 110. 9. Current conditions index, 114. 8. The Consensus Forecast was 114. 5. The german expectations index, 106. 2 in may. The Consensus Forecast, 106. 6. The april number was 111. 2. We have dipped down from that. A lull theyre talking about seeing in the German Economy in may, no revisions to the april indices. Euros been weaker ahead of this number and indeed it is ticking down again. Down to 136. 36 is where we stand at the moment. We are at fresh 2 1 2month lows on euro dollar on this lull. Joining us is christian schultz, senior economist at beringburg bank. Your reaction to this . The pmis yesterday paint maybe a slightly different picture. Both indices show the German Economy is growing at
To buy the l. A. Clippers. And investors dont sell in may, european stocks are ending the month near their best levels in more than six years, boosted by another record close on wall street. Youre watching Worldwide Exchange, bringing you Business News from around the globe. Welcome to Worldwide Exchange again. Lets get to one of our top stories, straight away, shares in pnb paribas tumbling after a wall street journal reports that the french lender could be hit with a 10 billion fine over allegations it evaded u. S. Sanctions against a number of countries, including iran. In the last few minutes the bank of france says its following the case very closely. Stephan is in paris. This dwarfs the amount of provisions theyve made. My key concern is what this could mean for the operations in the u. S. Going forward potentially, too. First of all, lets put the numbers into perspective. Youre right, 10 billion, much higher than what bnp paribas reported as profit. Its already much higher than
Here in las vegas at ces International Samsung has a rather Large Display, and the communicators is joined by david steel, executive Vice President of strategy for samsung. Mr. Steel, if you would, just begin by giving us a snapshot of the samsung corporation. Guest so samsung is now the Largest Technology company in the world by sales. We cover all the way from components like Semiconductor Chips and flat Panel Displays all the way through to finished goods like Home Appliances, itsing and smartphones televisions and smartphones. So youll see a whole range of products at the booth where were sewing pcs, audio systems, Home Appliances, televisions, the whole range. Host what is your position at samsung as executive Vice President . For what are you responsible . Guest so im responsible for our Corporate Strategy in north america, covering the United States and canada, and then looking at all of our Corporate Strategies across [inaudible] so overseeing all the different product areas an
Have eurozone unemployment ticking higher slightly. A mixed bag there. Little change overall in europe. Our road map this morning starts with what else . The fiscal cliff. The president heads to a pennsylvania toy factory pressing his case for a proposal that actually leaked last night seeking 1. 6 trillion in tax hikes. Republicans in morning balking and cliff fears prompt another company to issue a dividend and its whole foods. Owner of taco bell, kfc, have warned that sales hit the skids. The shares yesterday hit a fresh high. Facebook unlikes zynga. Zynga shares are plummeting this morning on the news. Never an ego boost for the ceo when the stock falls on the news that hes keeping his job. Thats exactly whats happening with groupon as the board keeps andrew mason. The president heading to a pennsylvania factory this morning. Republicans have given a thumbs down to the president s plan which includes a 1. 6 trillion tax increase, 50 billion in Infrastructure Spending for next year
Much blacked out. Difference as weve been saying here, the neil might not but its more that is blocked out, the consistency. You know, republicans have been more a lot of people that are criticized on this subject. Concerned about secrets being but to be fair, they dont go kept, theyre going to freak out. Around advocating big obviously we have to wait to see government. Even though Big Government has whats in the report. Its raising questions now. Welcome. Im neil cavuto. Gotten bigger under their rules. This is your world. Do these guys have to practice what they preach . Lets begin with Eliza Collins if youre going to talk to talk, you have to walk the walk. Elizabeth warren giving the and john sale. So less than 24 hours away from most. She will milk this for all this. What do you anticipate will be its worth. I will say one thing. If people are going to fight redacted . Judge Andrew Napolitano was against the republicans, they anticipating as much as half the need a stronger messa