Says the u. S. Could have less than 50 billion on hand. The u. S. Has been bumping up against the 16. 7 trillion Borrowing Limit since may, but has employed emergency measures to avoid on default. President obama has said he will not negotiate with congress over raising the debt ceiling. Meanwhile, on todays show, 29 billion tech giant is being made. Well discuss the supplied purchases electron in half an hours time. And can frances 2014 budget bring in jobs while cutting to deficit . Well preview the big announcement live in paris. Samsungs galaxy hits the shelves today. Can they take a bite out of apples shares . Well be in seoul at 10 45 cet. And a cnbc exclusive, we will talk to the deputy ceo of pereus bank. Tune in at 111 20 cet. Would you hit the highway with a passengers seat with no driver . I did. Well take a look at how drufrless cars can be the way of the future. Its an stroit extraordinary experience. That sounds scary. Its weird. Well talk about it. Im looking forward to seeing that one and seeing how that is. Okay. Lets get a check on markets. In asia, li swish want is standing by in singapore. Sixuan, the weather here is nice. Its cooler than in singapore where you are. Well, its raining today, actually. Its been raining all throughout the month because its the monsoon season. But im glad that youre enjoying london. The shanghai composite fell with profit taking ending down 0. 4 . The hang seng index in hong kong ended higher by 0. 1 . In japan, the nikkei 225 lost 0. 8 amid fiscal worries. But australias asx 200 outperformed its asian peers after the rbi said the Banking System is in shape. Ten poe shares ended marginally higher, about 0. 4 after russia and france will both offer help with the fukushima power plant. Tokyo electron is up over 13 . South korean chipmakers under pressure on concerns of price raises on the back of the potential merger of the worlds number one and number three chipmakers. Sdhynix tumbled 2. 5 today. For the same reason, Samsung Electronics slipped 0. 7 . On that note, back to ross. Thank you, sixuan, for that. You have to come over, as well. On the stoxx 600, 8 to 3 decliners outpating advancers. Certainly 0. 5 lower for the ftse, as is the xetra dax, cac 40 and ftse mib. A number of individual stocks that were looking at today. Thyssenkrupp is up around 4 as they have acquired a 5 stake in thyssenkrupp. The swedish government is trying to sell its remaining shares in nordea as it continues its exposure to risky assets. Its down around 2 . And bmps has sdlad roadway structuring plan seen as key to knocking over its funding. The bank said the postponement was due to complete formidable aspects. The fed will be pleased about the 2. 6 yield that we god got immediately in the aftermath of the fed decision. Although theyre not trying to get equities going, they were concerned about market rates. And italian yields are lower, as well. German bund yields are lower across the board right now. Euro dollar is below 1. 35 . Dollar yen back below 99. Sterling dollar just trying to hold on to that 1. 60 level, as well. Dee. Meanwhile, the 2014 french budget bill is being presented at the weekly Cabinet Meeting which started in paris just minutes ago. The government is making a push towards tax stabilization in order to stimulate growth. Stephane pedrazzi is live in paris. Stephane, over to you. Yes, good morning. This year, the asx will be 20 million euros. But the difference is it will come from spending cuts instead of tax increases. In 2013, twothird came from tax increases. The next budget will be 80 from spending cuts. The Prime Minister claims that it will be the first time in france in 56 years that the government will actually cut spending. In terms of taxes, companies will benefit from a tax credit in order to lower the cost of labor in france. And in the meantime, workers and consumers will face more taxes. The cost of pension and social insurance is going to increase next year. Will it be enough to meet the new deficit target . You know recently the french government raised its deficit target to 4. 5 of gdp this year on 3. 6 gdp for the next year. Two weeks ago, i asked the finance minister how on confident he was in his ability to meet these new targets. Okay. Stephane, thanks for that. We were expecting a little bit of sound there, but we didnt get it. Well watch you a little later. Youre going to have more on this in the next half hour. Thanks, stephane. Italys Prime Minister has put forward a budget that promotes growth and draws investment from abroad. However, the government must pledge too polish property taxes and prevent a sales tax hike. He warned without changes to the monetary union, all the efforts to turn around its economy may, quote, prove useless. Meanwhile, greeces Economic Contraction may be slowing. A joint forecast of International Troika lenders sees the economy slowing by around 4 this year. And, again, back up for those stories, were joined by sylvia putin. Thanks so much, indeed, for joining us. Good morning. Is there any doubt were going to need another package for greece . And how problematic might that be . Certainly, there are a couple of issues that need to be discussed in greece. But i would say that a number of need to be aligned at the european level for that to happen. Clearly, if you look at what is happening at the political level, the first important step is to get a government in germany. We have the elections, there is a coalition talk which is starting. That will be the first ingredient to proceed on greece. There are some issues related to funding gap and to a debt gap, as well, which we think is going to be faced sequentially looking at the debt first and then the tax cut at some point towards the second half of next year. But are they going to get reductions in their Interest Rate . Greece is now saying we can get to a stage where if we took away all interest payments, we would be okay on. Thats what greek politicians are going to say we need that support behind us. Our view is that the involvement is a way too for greece. Its a way as it happened in the past. Ultimately, we believe there is some upside in terms of how the market is looking at this stage. Do you think that some of these delays in the Structural Reforms in greece and we had italy anticipates latest Economic Forecast looking quite grim. Do you think that they have the ability to derail the economic recovery we are seeing in the eurozone . Well, i think the italian situation is a little bit more complicated than the greek one where you have some form of commitment and external civilian which is ebb forcing a program. But in italy, unfortunately, the fact that there is a very fluid political environment at the moment is policy on shortterm. We saw the discussion about the budget which nowadays is based on what is going to happen with the v. A. T. Or not. But you dont see the longterm plan. So the answer is yes, that is going to have a toll on growth. But having said that, the way we look at this uncertainty and the performance towards the rest of the region and somewhat a periphery country, we think that knitly there are some elements that could lead the economy to a weaker recovery talk into next year. Well, i think that the margin has, clearly. And the way you express that nowadays is, for example, looking at how the realignment has worked out. Now, there is, i think, a story a case to be made, which is one where if you take off the layer of political uncertainty, its still an economy which has got much more i would say stable fundamentals where you dont have the leveraging cycle there. So if you are a household, you dont know what its going to be for the next 12 months. Youre in precautionary savings mode, which has been the biggest problem for the Italian Economy so far. Still coming up on worldwide exchange, we are an exclusive interview with the deputy ceo of greeces Second Largest Bank by assets. What does anthimos tho on mopoulus think . Stay tuned to find out. And gold has gone missing from the whole of one of its budget carriers. But with spot gold down 20 this year, should the thieves hold or sell . Its a very good point. Holding on to it. Yeah. Well be back with more. You really love, what would you do . [ woman ] id be a writer. [ man ] id be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] id be an architect. What if i told you someone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . [ male announcer ] 1. 21 gigawatts. Today, thats easy. Ge is revolutionizing power. Supercharging turbines with advanced hardware and innovative software. Using data predictively to help power entire cities. So the turbines of today. Will power us all. Into the future. Jpmorgan has resumed discussions with the Government Regarding a mortgage settlement. The settlement would cover to pay 3 billion to end the legal issues, but the Justice Department argues the fines should be higher. A jpmorgan stock in frankfurt down 1 is. 5 . U. S. Prosecutors kicked off the socalled hustle civil case against bank of america on tuesday claiming the banks countrywide unit misled fannie mae and freddie mac about the quality of the loans they happen buying before the u. S. Housing crisis. The case centers on countrywides Fast Track Program for prime mortgages nicknamed hustle for the acronym hssl which stood for high speed swim lane. The government allegeses the promise of quality loans was a joke saying countrywide ignored several red flags. Cherman chancellor Angela Merkels party has its sights on democrats after a tieup with the green party. Negotiation eggs are likely to be slow. You were sdwruft alluding to we have to go through these negotiations. The thing is, Angela Merkel currently won this election. How protracted do you think its going to be and what are the implications for the way the policy is implemented within the eurozone . Thats definitely a big question for europe at this stage. We need to be cognizant 069 fact that the win of Angela Merkel has been overwhelming. Its unlikely she would give meaningful to the democrats as it would change the way shes led so far on european matters. But i dont think we will see much changing. Yeah. Do you think we will see this is good for David Cameron. Angela merkel does agree with David Cameron that we need to make the market worry better. Do you think that we will see moves that will achieve some growth measures by finally concentrating on opening markets up . That was a long foreloren hope that ive had for a long time. I think if you look at the priorities for europe, we have a Banking Union to push forward and the window of negotiations with other countryies next year you have the french local elections. So i think the europeans will focus on its priority and the market story will be developed alongside much bigger things here. Okay. Silvio, thanks for that. The government meanwhile is continuing to sell off mines. Theyre reportedly set to shed two mines in australia. As far as the stock is concerned today lets take a look at those spp spot gold, 1,320. Quite range bound. And another story in the commodities space, brazils vale believes iron ore prices will remain between 120 and 130 in the Fourth Quarter of the year. The miner plans to raise iron ore Production Capacity to 284 million tons by 2018 up from 306 million this year. John, thanks pgs so much, indeed, for joining us. What do you make of the gold miners at the moment . Our view is that at least 300, 400 an houns is the premium on gold versus an insurance vehicle. We believe the Current Crisis peaked and therefore, it should. Going up from 500 tons to 2,500 tons from the peak. Weve dropped by investors out of the u. S. So gold will have to rely on its old trusted drivers which in the context of slow Growth International environment we cant rely on that up above 1,300. Its about right for the moment. We started the bull market at 300 an ounce. We hadnt been through 1,000 an ounce by the time the credit crisis broke. Our view is that 1300 is about right for now. But going into 2014, we expect further etf sales and well be looking at Something Like 1250 next year. Is there a disconnect between the price of gold . China expected to surpass india in terms of its consumption for gold. The socalled big mamas in china who know the gold price better than anyone. Theyre bidding it up. Are they going to have some kind of effect and is that going to somehow converge . I think what has happened is that the big institution for individuals were buying gold into etfs for the Current Crisis. I would say the more conservative and cautious middle eastern buyers wait for the gold price to come down. Theyre very, very priced into it. So the support for gold, some spice of selling 700 tons of etfs this year, youre quite right. At that level, theres a bit of a takeup for those who have been patient enough to see it and wait for it to come back. That could provide some support. We dont think its going to be meet yumm support into 2014. It relies very much on the angelo platinum. So the platinum is key there. We had gold stocks unsold in february this year. We put the rest of our sales in april. We upgraded some in june, but only to neutral. Shifting away from gold, weve seen the data improve a little bit. Im skeptical of how long the recovery is going to last. But whats your opinion . And are they going to catch up with that recovery before we see another downturn . We do believe in a modest continuing economic global recovery. So on our demand profile, were assuming better metal demand. The problem is that were priced for inventory and we havent had the production cuts we used to get in bygone cycles. If you go back ten years, we had lots of small cap miners. The big guys absorbed them. They had bigger balance sheets, lower cost of capital, theyve been able to ride this out. Its primarily cuts to future project in 2016 and 17. In copper, we see a surplus until 2017. We see an aluminum surplus in 2017. Is that mostly due to china . It is due to what has happened in china between 2006 and now. But were still expecting china to improve. Very briefly, out of all the big diversified miners, why is rio tinto your favorite . We believe they have space for further effort sales. Some of the peers have been quick with asset sales. Rio has the scope of selling still. Also, they still have the option they are the ones who can bring on the big iron ore accessories. They still have the option to say, hang on a minute, lets make sure we dont put too much into the market. We believe they will rethink that and thats a big plus for them. Thank you so much for joining us today. Now, talking about gold, gold bars worth 2 million disappeared on a flight between paris and when i say disappeared, do they mean they were there when the plane took off and then when they landed they werent there . I was just wondering that. And can you not check all the passengers . Did the pilot not notice the change in weight . And lets not forget how heavy 73 kilograms of gold is. The way you pack a that in the plane is a big thing for the pilot. Its thought to have been stolen just before takeoff. Okay. Thank you very much. Just before takeoff from the air france budget plane. The airlines owner says it couldnt have been stolen mid flight. Theyre investigating the possibility that air france or airport staff was involved. Theres always an inside job involved, not that i know. Who was the owner . Is there something you want to tell us, ross . Were you on any flights recently . I didnt sleep well last night. For tourists who cannot switch off, take note, australias Sunshine Coast will soon become the worlds First Destination to set up phone free zones. That will work. Theyre introducing a smartphone code of conduct and designating unplugged zones. Thats right. No liking, no tweeting, no sharing, no pinning, following, friending or unfriending. There you go, ross, no one can unfriend you while theyre on a bench. Id have to be a friend first to be unfriended. You know where you need that, perhaps on the chinese beaches which are so packed you cant even move and you get a lot of people on their phones. Can you actually do that . Would that hold . Can you just ban people from using phones in a public space . You can do it in a cinema, right . They just cut off your space. You know, its a little dick to dictorial for my taste. Just make them illegal. We want to hear from you. Would you welcome more phone free zones . Tweet cnbcwex, direct to me rosswestgate or deecnbc. Still to come on the show, france is revealing its 2014 budget, but can the country reduce the deficit without major tax hikes . We head to paris right after the break. And are you ready to take your hand off the wheel . Sit back and literally let your car do all the work. A cautious session for Global Equity markets with concerns over the u. S. Budgets overshadowing a major m a deal in the tech secretary sector. A Tea Party Republican senator speaks for hours in a bid to block todays vote by lawmakers. Shares of Tokyo Electron surged 13 in japan. Investors expect to form a 29 million powerhouse. And more pressure for the french government as Business Sentiment unexpectedly falls in september ahead of the key 2014 budget amid calls to shift the tax burden away from the corporate sector. We have comments out from the bank of englands financial policy committee. Theyve got an eye on the housing market, as well. The house onning recovery has gained momentum and is broadening, but activity to val shares are below historic averages and they havent changed any recommendations. The spc at the moment is effectively saying dont worry about the uk housing market. It is okay. That is the message from the people that have the tools to