Finds over the carmakers cheating jay y. Lee is set free from jail shares of the tech giant trade higher and German Coalition talks continue past the sunday deadline as Angela Merkel conservativ conservatives and the spd fail to find Common Ground on the labor policy okay lets bring you up to speed with the eurozone pmi numbers if im just trying to bring them up here. And i think oh, here we are, eurozone generally, final composite pmi number is a strong one on the face of it. 58. 8, 58. 6 was the flash number, so weve exceeded expectations on that one. The december final number was 58. 1 so, this is a very strong number for the head line final composite. Lets break this down. Final services pmi coming in at 58 above the flash figure of 57. 6 the december final figure was 56. 6 the final composite price for pmi, 54. 8. 54. 6 was the flash, the final, 58. 2 so far, so good. The numbers are exceeding what we saw in the prime month and also at first blush. New business pmi, lets give you that one as well this is supervises, 57. 2 flash, 57. 2, december final, 56. 7 you would expect that the euro would move on this one and lets take a look at a single european currency 124. 56 muted reaction at this stage these numbers have just come out, but i think the alpha prices one is an important one and that manufacturing is coming back and certainly has expectations for corporate margins within the European Countries and this entire debate, willem, about inflation about whether this is a continued risk absolutely. Looking at the numbers, this morning, we see the ftse 100 by far the worst performer, xetra dax in germany, down 0. 5 . This pain continuing the cac in paris, down 0. 73 and the ftse mib down 1 pretty negative news across the european markets lets take a look at the sectors driving those. We can see here across the board again, weve got a lot red going on there weve got basic resources down almost 0. 2 financial services, real estate also down 1. 3 and shreya, its just constant, constant news . Yeah. And it looks as though selling is going to get more selling in the u. S. Equities market the picture was bad earlier on it doesnt look as bad now, but still deeply negative, so the futures markets suggesting losses it was suggesting losses in the order of about 200 points for the major indices. We have retraced on that but still pointing for more selling at the open for the dow and s p. Lets just rewind and take a look at the Asian Session because it was a pretty woeful start over the weekend monday. As would you expect triple digits for wall street first of all, lets look at the nikkei the last leader, down 2. 6 thats the worst percentage loss since the u. S. Election just to put it in context, it was the tech shares at the sharp end, not only the japanese but elsewhere. But this is interesting, the shanghai composite seems to be relatively insulated that market up by 25 points, so 0. 7 we do have data crossing later this week, we have cpi and ppi from china and also the trade balance as well depending on the complexion of those numbers perhaps thats the story to test the Global Equities picture lets go to my colleague dmaens hunger ford in singapore who has got more depth to the asian markets. Why do you think that the chinese equities relatively well insulated from this route . Well, there are a few factors to consider here, one is on the data front 0. 7 on the data side some encouraging news out of china, in fact, on the services pmi that grew at the fastest pace in about six years. That is one encouraging sign when you talk about this economic transition under way in china. But i think a bigger part. Story could be any support for the heavyweight names were tracking in china as well. Take a look at some big banks in the neighborhood were talking gains in the neighborhood of 5 , 4 , here trader speculate funds coming in for funds that could be heavyweight support. Think about whats been happenings over the last week. In fact, the shanghai composite over the week was one of the underperformers. 2. 7 yes, very much the outlier on the session here some of the heavyweights outperforming as you can see on the board behind me. I want to talk about one other area were tracking, and thats tech especially with the asian suppliers. No secret that apple had a big dip on friday as part of the selloff there. We are seeing weaknesses there on some of the key apple suppliers. Skh hynix, 2. 8 as well. Many of the fund managers, cios i was speaking to on the program many here in singapore saying weve been waiting for a dip in the market not a lot of concern, id say, but certainly, people are keeping an eye on the inflationary market. Back to you for now. It seems to be the proverbial opportunity for now. On squawk box earlier this morning, bear bitman said the correction is healthy and needed for the dow to hit 30,000. What is necessary, of course, the earnings are continuing, i mean on a global level, and the u. S. Takes the lead longer term and short term as we saw with collection last week so, no surprise that asia and europe will be down today. It needs fundamentally growth basically and that is a company by higher volatility lets bring in the cio at dolphin. Would you be inclined to agree with that commentary that this is a buying opportunity . Or does it mean that we have to adopt to more defensive posture now. Absolutely. Were in a risk mode i think that selloff has been expected, more or less, because were at a very good start of the year so, we switched from greed to fear very quickly, when you look at what equities have done in the first few weeks of the year. But Going Forward, i think its more a focus on the fundamentals and earnings growth. Dont forget, were still in the earning season and investors look out for the buying opportunities. What are the buying opportunities what are you looking for across europe . Predominant, we like euro is zone within secure row zone, of euro feature banks and energy and it makes absolute sense why we have seen this continuation and recovery taking place in europe, should reflect on that as well. Tell me why we should have the reflection on the banks, we saw with deutsche last week, a fair degree of pace with respect to the restructuring of the banks . Absolutely. European banks have more issues, have your leverage on the european side. But if you look at the rates on the side, the steepening taking place will definitely benefit the banks and have a stronger consumer demand. And well see much more robustness and from that perspective, obviously more attractive. With robust and bank statements, does that mean that volatility is not something to worry about . No, i dont think so. I think its an excellent buying opportunity. We witness a balance, or balancing act between explodes and Inflation Expectations but the markets are this goes globally. The markets are adjusting to a higher rates environment, a higher inflation environment as well and the positive upside is synchronized growth and the earnings fundamentals. Its still going to be a relatively painful adjustment, isnt it dont forget, in germany, the t tenyear bond, thats growth the fact that we had a very strong wage growth number on friday that prompted the selling that we still have the inflation environment. So, i dont see why did it because rates and bonds have been expensive for quite some time dont forget, weve been in a flattening mode in december. And our invefrstors are thinks, oh, now, we need to realign. That was the first indication that we need to have high rates to support the growth numbers. Politics, italian elections, gridlock and a threat of uncertainty associated with the Reform Program throw in the uncertainty associated with the German Coalition talks as well. And is the politics going to spoil the European Equity . I dont think so. I think that investors usually have got it wrong when it comes to european politics there was successful risk aversion when it comes to politics specifically, in italy, we dont have scenario anymore. Looks like some sort of coalition. And in germany, we definitely get a positive outcome as i said before, its a good buying Opportunity One final question. You talk about rate rises in the u. S. , are you expecting three or four in the u. S. This year we expect three and that three, well see some buying coming in thank you very much an interesting conversation, chief Investment Officer at dolfin samsung heir jay y. Lee walks free aer hftis sentence gets suspended we bring you the latest after the break. For every hour that youre idling in your car, youre sending about half a gallon of gasoline up in the air. That amounts to about 10 pounds of Carbon Dioxide every week. malo hutson growth is good, but when it starts impacting our quality of air and quality of life, thats a problem. So forwardthinking cities like sacramento are investing in streets that are smarter and greener. The solution was right under our feet. Asphalt. Or to be more precise, intelligent asphalt. By embedding sensors into the pavement, as well as installing cameras on traffic lights, we will be able to analyze the flow of traffic. Then that data runs across our network, and we use it to optimize the timing of lights, so that travel times are shorter. Who knew asphalt could help save the environment . Jimmys gotten used to his whole yup, hes gone noseblind. Odors. He thinks it smells fine, but his mom smells this. Luckily for all your hardtowash fabrics. Theres febreze fabric refresher. Febreze doesnt just mask, it eliminates odors youve. Gone noseblind to. And try Febreze Unstopables for fabric. With up to twice the fresh scent power, youll want to try it. Again and again and maybe just one more time. Indulge in irresistible freshness. Febreze unstopables. Breathe happy. We know life can be hectic. Thats why, at xfinity, weve been working hard to simplify your experiences with us. Now, with instant text and email updates, youll always be up to date. You can easily add premium channels, so you dont miss your favorite show. And with just a single word, find all the answers youre looking for because getting what you need should be simple, fast, and easy. Download the xfinity my account app or go online today. Signs, everybody. Samsung heir jay y. Lee has been allowed to walk free following a year behind bars after an appeal court suspended his fiveyear jail term, speaking to reporters afterwards, lee said that the year he had spent in jail was valuable for selfreflection shelli kang has been following the story from hong kong shelli, let me see, first of all, does this incomply that the authorities are going a little soft on reform well, thats actually the very concern that some of the Political Parties in south korea are raising already on the day that we got this kind of ruling. They are saying that this is typical for courts to give out more lenient rulings for the generations of these familyowned large conglomerates in south korea but i do have to make a note here that there are other people who are saying that this is samsung. In south korea, who is basic whose Business Operations basically expand all over south korean businesses. And the back bone of the exports of the countries so, maybe, perhaps, a little bit of concern in terms of the growth of where south korea moving forward in 2018 as well so, its interesting reaction that we are seeing already and just to take you back to that comment that we got from jay y. Lee himself saying that he spent his past year, 353 years to be exact, selfreflecting on what, you know, sort of selfrespecting. And i think a little bit of that soul searching will have to continue for some time now, because hes going to have to play some catchup, after that one year of leadership vacuum. And also the markets are going to react differently its going to have to rebuild its brand that has been hurt because of Samsung Electronics, the link, to the political Corruption Scandal and at the same time, were dealing with different markets, different becames who are asking for more transparent Samsung Electronics. And i think we saw a little bit of that last week when Samsung Electronics actually announced a stock split. A sort of opening up the floor for retail ambassadors, which is something it hasnt done for many years despite investors call to do that. So i think it will be very interesting to see what kind of soulsearching, what kind of different Samsung Electronics that jay y. Lee will make now that he gets to go home free, sri. Exactly, the change needs in smith. Thank you very much indeed for that chiefs are not yet complaining about the Rising Oil Prices speaking at a Conference Ahead at the singapore show, the rising costs for airport rising infrastructure pose a risk for the sectors profitability now shg, despite those concerns does expect 2018 to be another strong year. Don murphy has more. Reporter asia is powering growth and powering change in the global airplane Market International routes says routes to and from arab yar expected to add a whopping 2. 1 billion new passengers in the next two decades. China, of course, plays a leading role in that growth story. Its also expected to overtake the United States to become the Worlds Largest market in 2022 one Company Looking to capital on those strong growth fundamentals is boeing which builds the bulk of its book from the region i spoke with boeing on the commercial side which is also working to drum up new partnerships in a cut throat competition with rival airbus. I asked to deepen ties theres not much i can say that we have had a Long Partnership with indra air there is a potential for tieup and our teams are working towards that reporter and youll have to, of course, apiece the brazilian government and this will include defense, right well, i think thats up for consideration. Reporter i also want to be clear on this, boeing is not considering another outward tilt of embraer, is it . Some type of partnership is on the table its looks like it could be done reporter boeings tieup will give it a leading share into the 172 market it hopes to secure the Competitive Edge with airbus with bombardier on the controversial cseries last year it could face stiff opposition from the brazilian government which holds a socalled golden share in embaer, well have more details with aviation, aerospace and defense as our coverage of the 2018 Singapore Air show continues. Im dan murphy, back to you. Ryan air shows opened higher, ryanair did see a jump in its Third Quarter net profits which rose 12 to 106 million euros. That was ahead of analyst forecasts and despite ongoing labor contracts, the carrier also updated its expectations for profits. Were talking to a Senior Analyst at burnstein research. With the pilots, i think they just said ryanair, their demands are laughable. They want to try and match some of the salaries that theyre seeing at higher value carriers. And now difficult is this going to be as a challenge for the airline, they want to continue to expand and yet theyll see this pilot churn i think the difficulty is to see what unions are bargaining for, not only pay, but promotion rules. They only focused on the pay issue to stem that out to pilots what youre saying they should be trying to offer more potentially, they want to sweeten the deal when it comes to how the people are treated on a daytoday basis well, ryanair needs to protect their Business Model gent on labor. 16hour days that we hear the Horror Stories about in the media . Well, to be clear, theyre within the guidelines. Just efficient thats where the local funds will creep into it and thats what the union will be fighting most with. Ryanair, as they give something away with pay, they expect them not to take something on productivity they were very clear on this morning. I wonder given that he has said now that we dont care about the bad pr, its going to be part of our cost Going Forward in the course of this year, is there an option for them to come out looking good from these negotiations . I think the fundamental thing to recognize about unions is they never go away again i negotiated several union deals with the air states, the thing is they dont go away. You always build on what was there before and they cannot get better what theyre built, its simply what they would pay in the 20 pay increase went through. Theres nothing about productivity or any other concessions there. Hasnt management shot themselves in the foot here by disclosing that theres going to be a 935 Million DollarShare Buyback at this point in time, when they are in negotiations with the pilots over pay i mean, thats going to tell the pilot its that they arent actually flushed with cash and they can afford an increment theyve got about 3 billion in cash right now lying around in the cash and cash equivalents. Yes, its difficult in the negotiation issue, but arguably, on the other hand, they have to demand of shareholders where youve got 3 billion. Youre not paying dividends so where is that cash going definitely the cash balance is something that unions are going to look at and make negotiations harder and the talk at the 2024 passenger numbers 200 million is going to be in jeopardy . Well, that is the key question the difficulty here, they got the planes they likely have the customers because theyre now going into france and scandinavia, too the question remains do they get the pilots thats something well know in the next 18 months if more pilots are leaving, they have to reduce growth. And this will be difficult, specifically in the longer term to get the same profit as they have today breaking that down into what constitutes the margin and the business presumably, Energy Prices is not helping them either . No, but they disclosed that fuel should be up. I think across the sector, youll have the fuel bill increase at 3 billion next year so, as we head into 18, 19, its definitely going to be difficult. What the sector should do is reduce Capacity Growth but we havent seen that yet thank you, Senior Analyst for european transportation at Bernstein Research joining us this morning now, the u. S. Justice department is reportedly going to fine Fiat Chrysler, the automaker is accused of illegally using software that led to excess emission information the u. S. Coming up in the programs, unthinking the sticking points well get the latest on the coalition in germany today for your heart. Your joints. Or your digestion. So why wouldnt you take something for the most important part of you. Your brain. With an ingredient originally found in jellyfish, prevagen is now the number one selling brain Health Supplement in drug stores nationwide. Prevagen. The name to remember. Signs. Im willem marx. And im Sri Jegarajah lets give you headlines a sea of red across global stock markets. European equities trade sharply lower after steep declines in asia while u. S. Futures point down again, after the major averages stateside close out their worst week in over two years. Driving off course Fiat Chrysler shares hit the skids after reports over the significant finds over the carmakers emissions cheating. And samsungs jay y. Lee is set free after nearly a year behind bars. Shares in the tech giant trade higher and German Coalition talks continue past the deadline after Angela Merkel conservatives and the spd fail to find Common Ground on labor and Health Care Policy well bring you the latest uk pmi numbers this morning looks Like Services pmi has fallen, 53. 0 thats against decembers number of 54. 2. All sector pmi for the uk was 53. 2, that, again is also down from decembers number of 54. 7 it is the lowest number since august 2016. So, not particularly positive data coming out of the uk when it refers to pmi willem, lets take a look at these markets in europe, because we are inheriting a very, very slabby lead from asia. Remember, the nikkei posted its biggest percentage loss since the u. S. Emrekz back in november 2016 and then prior to that, wall street stumbled and stumbled hard it had its worst week in two years for the major u. S. Indices. But all things considered, this is the bearish report from england. The losses limited to 1 if you look at the ftse 100 seeming to take the brunt of it elsewhere, lets take a look at the sectors, because as you would expect, fairly broadbased weakness with exception of utilities would you expect that to be of defense nature some money flowing into relative safety of utilities. Not winning by a wide margin broad based weakness, possibly, youd expect to see the minors performing recently well the gold even hasnt been getting a very strong bid. Lets take a look at u. S. Futures and see the shape that the u. S. As a matter of fact is going to be. And selling is obviously going to be getting more selling in the early goings on, the futures were suggesting a 200point loss that seems to have narrowed and retraced somewhat. Still, it looks as though its going to be a pretty messy picture for the u. S. Equities markets. And i think it really comes down to whenever earnings can be the salvation, whether the corporate fundamentals can continue to be strong and inflation seems to be posting now and also translating into the allimportant cost money with regard to the tenyear yield and willem, were knocking on the door now of that 3 number for the tenyear bond yield. And thats giving folks in asia the heebiejeebies when you consider the cost of funding u. S. Dominated debt. And in europe, german talks are set to continue with Angela Merkels conservatives and marshalls social democrats. The two sides failed to reach a deal forming a government over yesterdays selfimposed deadline after conditions continue with health care and labor policies what are the sticking points and what makes them so sticky for the conservatives in the spd well, actually, as you were saying, its labor and its health labor, were talking that the democrats are going to have a ban on shortterm contract which is have no justification which gets of course, employees ample flexibility to also react to economic downturn so, thats a nogo area for the business trend and another area, health, here, were talking about the core to abolish the private health altogether and also a nogo area for Angela Merkels cpu there needs to be a compromise and now perhaps there might even be a Coalition Contract as of today. Whether we get one today or tomorrow, but the crucial test will be vote of the social Democratic Party base which also has to vote on the Coalition Contract that will take another three weeks. And, of course, that leads us to the fact that there wont be any new german government, if so, before march perhaps midmarch. Another topic which is quite high on the agenda of german corporates, so its not necessary of coalition talks, looming strike action. Because we have more and more pressure from the trade unions about all of the aggressive trade union for Industrial Workers who are calling for 8 higher wages over a twoyear time horizon a little bit more than two year. But they want to have more than 8 and at first, the employers at least in the test region south of germany, theyre offering some 6 percent for that time horizon in 27 months not actually bad so could have more inflation pressure coming out of germany theres actually a lot of pressure on both sides to get a deal done. I just wonder do you hear from members of the cdu and csu, in public, they recognizes that the spd has some leverage, because they all know that the spd has to vote on any deal that comes out in the end. Actually, they dont do that in public because that would destroy their negotiation tactic of course, they have moved they have moved a bit about social housing, which is also a key area for the social democrats. They have moved also on the socalled renter break we have in place here in germany, meaning that you cant hike rents as much as you want to, if you own a property. And they have toughened those rules Going Forward. Because, of course, there were a lot of sort of gray areas which were exploited by House Developers leading to the fact that at least for the german pace, the big cities are getting less and less affordable for ordinary people, or average income households, which, of course, is nothing new for big cities like london but as we were saying for germans, its new. And it is just not very welcome. And that is something the social democrats sort of brought hem now for their party base vanessa, thank you very much. Appreciate the clarity there moving on, Italian Police have arrested a gunman accused of shooting african migrants in central italy. At least six people were wounded in what appears to be a racially motivated attack the gunman has been identified as a 28yearold who lost as a candidate for the right wing northern league. The partys leader mateo celini distanced himself from the attack and Silvio Berlusconis central right appears to be closer to winning the election the former prime ministers bloc would only about 32 seats short of an absolute majority in the lower house. The antiestablishment fivestar movement is seen as the single largest party, but it is not part of any coalition. And an indication that it will be based on our talk last week meanwhile, the uk government has ruled out any form of Customs Union after Brexit Theresa mays office has been speaking to a number of Media Outlets overnight insisting, quote, it is not our policy to be in the Customs Union. A key amount of confrontation and confusion around the subject, but downing street has declined to comment on these anonymous reports. And Digital Currencies are lower after the cryptocurrency lost over 100 billion in value over the last week bitcoin fell sharply sinking below 8,000 for the First Time Since november now joumanna joins us around the set. What else is there to talk about. And a number of issues in the Financial Market its and the broader economy in europe. And the broad gist is that he didnt really think cryptos have much merit well, that was part of conversation weve had 4. 4 billion for last year, that makes them the wealthiest monarchy and im curious to see how theyve managed to secure these after a long time. It goes as far back as 800 years. The way they allocate is not of course that they own a lot of land, really estate palaces, that sort of thing, the sort of things you associate with royalty. But he said that the key to keeping the wealth secure for such period of time is one luck. He said they were lucky. But also diversification at that point, i is said how do you feel about diversification he said historically, they have the real estate aspect that i mentioned but then theyre also involved in financial services, they own a bank and an asset manager. And manages about 150 billion worth of assets. And then finally, he said that they would think about diversifying into other things i asked him about bitcoin, this is what he said. Its something particularly this whole new economy, digital economy, to look into more, into the future currently, we dont have internal expertise to do that directly i think we would rather do that our country doing that through our general exposure via private equity Venture Capital of investing but its a technology that could be interesting in your view it could be interesting, i think. I think particularly the whole Blockchain Technology. Its very interesting, with cryptocurrency, we move to i think one has to really see that theres a real risk as a class. Not a lot. But, you know, blockchain really changed a lot of areas, a lot of businesses the future to consume, even on the state side, i think attractive elements of Blockchain Technology that could be used there to make a state more efficient i think whats interesting about this, as a head of state, hes saying obviously theyre not going to invest in cryptocurrency per se, but hes interested in the Technology Behind it. He said that blockchain is an Interesting Technology because it makes things more efficient and its something that perhaps many governments can think about in terms of making a an adaptation to that market. So that was one part of our discussion the other thing is, a population of 30,000 people, its tiny. Its about a tenth of a size of london but also an open economy. Horn 100 of gdp relies on imports exports which makes them very exposed to globalization and globalization talk i asked him, i said theres been a lot of talk about isolation policies President Trump was in davos the week before, to say america first. Are you concerned that the world is moving away from a globalization model to a more inward looking model particularly when it pertains to a small country like leichten stei leichtenstein. Heres what he had to say. I think its worth a look on a level Playing Field but i think its important that they dont get rewritten in the sense of protectionism and i think that would be dangerous not only for the big countries but very much more, i think, for the smaller ones as well but you see under the example of lichtenstein that national trade, globalization is not you have only one part benefits and the other not. If lichtenstein would not be able to have this free trade, we couldnt have a sophisticated economy here we have to import almost everything in order to be able to specialize. In goods and services, in those area where is we can do well and export them. And like this, we can then find our imports. Otherwise, if our industrial economies or Financial Institutions would only have lichtenstein as a market theyd have to close down joumanna, fascinating interview, im just curious whether he led on any information as to how the assets were broken down and whether the diversification mix have changed whether there are more assets in gold or real estate . He didnt give that much information. But of course, it has evolved over time. I mentioned a lot was real estate heavy and Art Collection say big portion of their wealth as well. Private equity, i did talk about that earlier whats interesting about lichtenstein as an economy, they did open up the banking secrecy model in 2009 which means by definition, theyve had to evolve into a different type of economy where its not just about banking secrecy per se but also, theyve turned into somewhat of an industry hub. So about 40 of people from lichtenstein work in the Manufacturing Sector thats a high proportion of their economy which goes back to the point that they are still very open economy. Very reliant on trade, very reliant on exports so, in this context of globalization, its important that the rules dont get changed. Talking about Patient Capital and old money. Very old money, 800 years old. Indeed. Joumanna, thanks for that several uss republicans appear to distance themselves from President Trumps claims that a declassified memo by the white house vindicated him when it comes to special counsel Robert Muellers investigation when it comes to russian medding. The president took to twitter to repeat his claim that there was no collusion between his campaign and russia. And called the investigation a disgrace but republican representative traid goddy speaks to cbs nation the nation while the memo did reveal some slopiness on the part of investigators it offered no concrete reason to end the probe. Speaking to nbcs meet the press former cia director john brennan criticized the house chairman devin nunes the fact that nunes denied the minority members of that committee to put out its report is just appalling. And i think it really underscores just how partisan mr. Nunes has been hes abused the chairmanship of hpsci. Coming up on the show, the Philadelphia Eagles are soaring after claiming super bowl lii. Well have the highlights and tom bradys lowlight, after this break. These birds once affected by oil are heading back home. Thanks to dawn, rescue workers only trust dawn, because its tough on grease yet gentle. I am home, i am home, i am home welcome back celebrations went into the night in philadelphia. Philly after the eagles won the super bowl for the first time beating the new England Patriots the game played in minneapolis saw the eagles overcome tom bradys patriots 41 to 33. Nbcs wendy wilfork joins us from minneapolis wendy, thank you, first of all for doing this for us. I know its minus 20 stunning win for the eagles. And now theyve ended their 57year championship drought we know that tom brady is human after all. Reporter that is true on both sides good morning to you. I have to say it was an amazing game i think you can only put into one word, and its wow it was back and forth. For four full quarters they kept us on our seat at the edge of our seats and then finally the eagles just took control and they are now taking home their first Vince Lombardi trophy i think the play that most people are going to be talking about is the very first time in a super bowl game where a quarterback actually caught the ball in the end zone that was huge. And that probably is what equals Eagles Nick Foles earning that mvp title. We couldnt be more proud of him. I would be willing to say he was the sentimental favorite in this game by a lot of people. Because as you will know, that man started on the bench this season and of course, now, hes being called the most valuable player in his first super bowl championship who knows how many more are to come live in minneapolis, im wendy woolfolk, back to you. Wendy, thank you very much for that apple users are reporting an issue with their iphones which prevents the handsets from performing their most basic task answering it thats not helpful owners have been complaining on forums that a bug stops a call appearing on screen for up to ten seconds. Apple has said its looking into the reports. Chipmakers are the biggest fallers in europe this morning and now a verified apartment this morning just for those watching at home, which cities and countries are you current ll lly active in were live in nigeria, a lot of addressable markets in nigeria, over 14 million people, just bigger than the total population of ghana. In q2018, well be live in ghana and conga as well. That will be in africa and well also go live across the continent, and we have plan for a european expansion as well in 2019. Who are your consuls in johannesburg and who are the target consumers that youre trying to get to millennials average ages between 20 to 34. Those are people that can really afford the high cost of rent of apartments on their own. And sharing apartments and with land and bills and also you get to expand your social network. As well as your social circle. The target is millennials between ages 20 to 34. And an arab for those millennials, the cost of renting or buying in nigeria, for example, is astronomically high. Correct me if im wrong, ibrahim, but youre open to agents and wont that inevitably drive up costs for users if you effectively still have the middle man who is taking a cut sure. Were not necessarily open to argume agents but individuals can put up properties that theyre already renting if they have two beds available, i have a room available to share, you can take a space in there we are also partnering with real estate firms that will develop this fit for apartments that would be viewed with sharing in mind were not necessarily open to extra agents that put in commission and driving up the price at the end of the day. Ive got to ask you, its a very compelling Business Model what would you say if airbnb approached you or made you an offer, or have they already done so we met the marketing director of airbnb. She thought it was an interesting business i dont know, well have to make to see if they make an offer to see what we will do. We have to make renting properties more affordable across the country as long as thats going to continue, making rent and properties affordable in the continent, of course, able to lease to them. That was the ceo and cofounder of muster lets take a quick look at u. S. Futures a pretty negative start to the day. The dow jones down almost 113 points similar picture for s p 500 and nasdaq thats it for street signs. For Sri Jegarajah im willem marx Worldwide Exchange is up next. We know life can be hectic. Thats why, at xfinity, weve been working hard to simplify your experiences with us. Now, with instant text and email updates, youll always be up to date. You can easily add premium channels, so you dont miss your favorite show. And with just a single word, find all the answers youre looking for because getting what you need should be simple, fast, and easy. Download the xfinity my account app or go online today. Breaking market news, dow futures down triple digits as wall street adds to fridays big losses the selloff goes global, red arrows overseas. On the major market move and its a big day in the city of brotherly love when the Philadelphia Eagles win their first ever super bowl. Congrats to jim cramer its monday, february 5th, 2018. And Worldwide Exchange begins now. All i do is win no matter what good morning a verywarm welcome to Worldwide Exchange on