Welcome to worldwide exchange. Im wilfred frost. We are listening to president obama addressing the world summit in beijing. Lets listen in. Americas first trade mission visited china just a year after americas revolution ended. 230 years later we are two of the largest economies in the world. We have benefits of both of our countries. China is our fastest grower export market. Chinese direct investment in the United States has risen sixfold over the past five years. Chinese firms directly employ a rapidly growing number of americans. And all these things mean jobs for the American People and deepening these ties will mean more jobs and opportunities for both of our peoples. And thats why im very pleased to announce during think visit, the United States and chinese agreed to implement a new plan for visas to tourists and businesses large and small. Under the current arangement, visas between the two countries last for only one year. Under the new arrangements, student and Exchange Visa
Terms of what were communicating. The ruble recovers from its biggest daily loss in 16 years, but russias woes claim another victim. Shares in Italys Saipem plummet. China has its biggest daily rise in over a year with banks and grocery stocks leading the way. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Brent and wti are currently trading lower after bouncing back during the u. S. Session yesterday. They are up today, up 0. 66 and 0. 23 respectively. Wti crawled back around 5 of recent losses to move back above 65 a barrel. Some oil drillers have responded to operations by putting their operations on hold. Operators around the globe are looking at stacking their rigs, meaning making them temporary idle. The 3406 is aimed at lowering costs despite the offset in the market, but remaining ready for reemployment when it recovers. Imf chief Christine Legarde says while low oil prices are good news for the u. S. Economy, they do add a threat
Scientific research centers, and he puts his name on almost all of them. You want the world to know about it by putting your name on all the things you do support. I dont keep it a secret, thats for sure. [ticking] when sony, the Electronics Giant thats the epitome of japan incorporated, lost its cutting edge, it did something radical. It hired a westerner, sir Howard Stringer, as its new ceo. Sony is no longer the coolest. This is the coolest. You can take ipod and beat us over the head with it, but its only one product, and we have 1,000 products. Still, talk about a tough job. He has to turn sony around in a culture thats not always easy for a westerner to understand. Sorry. Thats all right. Were you lost in translation too . Welcome to 60 minutes on cnbc. Im steve kroft. In this edition, we talk with a trio of business moguls, carl icahn, eli broad, and sir Howard Stringer. We begin with carl icahn. It takes a certain breed of stock market investor to thrive in queasy times, and ic
This video is not from finland or sweden. Its the lower 48 and could be in your neck of the woods as mr. Roker says very soon. Weather a huge story across the usa today. Thank goodness you dont live in buffalo, sue. They got feet of snow. They got a lot of snow and it is very cold down here. Everybody bundle up and watch power lunch. Its the perfect thing to do at lunch time. If you are waiting for falling oil and gasoline prices to bring on cheaper air fares you will be stuck on the tarmac for a long time. United airline ceo on squawk box this morning. You are going well with fuel prices right now. And we are pricing our product today so we can make a reasonable profit. We are not the level of profitability we should be at united. We will get there. It isnt just pricing the product. There is lots of opportunities for us in ancillary services and ancillary products to make good margin. Those are things that customers value and will pay for. And we want to hear from you. Will Lower Oil
It is cubist pharmaceuticals. Merck buying the company. Meg terrell was ahead of the story on friday telling us a deal was in the works. She is in San Francisco at one of the biggest cancer meetings of the year and scored a live interview with mercks ceo. Thank you so much. Lets bring in ken frazier, the ceo of merck. Thank you for joining us. Thank you, meg, for having me. Always good to be on cnbc. Well, so this is a big deal in a space that has been a tough area, antibiotics and a Huge Public Health need. Tell us why this makes sense for merck. Every year in this country about 2 Million People have a form of infection that is resistant to conventional antibiotics. About 23,000 of those people die. So these kinds of infections are critically important in our society. So this is a great opportunity for us because merck has been committed to the field of antibiotic research for 70 years. And cubist has also been a leader in this area bringing forward novel antibiotics that can be usefu