Inflation leaves many wondering if president mario draghi to halt for a stock. Germanys second biggest lending beating forecasts with a 15 rise in net profits. And its all change at se seemans. Making the freshly appointed ceo vowed to return the company to growth. Ready to look forward and bring the company back to where the Company Stands for. And it is about innovation, about reliability, quality. And that is what we are going to do by exploring our Market Opportunities and then return to growth. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Hello and a warm welcome to you. Its a busy few hours here on cnbc. On todays show, london gets its first j. Crew store. But it wont be the last. Well have the ceo first on cnbc to speak about j. Crews expansion plans at 11 20 cet. While other pcmakers are feeling the pressure, lenovo sees its profits up 13 the . Well have analysis of the earnings at 10 30 cet. And it looks like a rough road ahead for german continental, lowering its target for Third Quarter sales. More on results in about 20 minutes. Could he better bonuses for wall street bankers. Financial advisers might see a 5 pop in bonuses. Bond traders wont be so lucky. Well have more on that at 11 40 cet. And Societe Generale is planning to cut 375 jobs in france. It did miss on net profit expectations. Dont miss stephane pedrazzis report on that. But first, twitter will make its debut on a Public Company on the new york stock exchange. Cnbcs kayla tousche has been following the ipo from the beginning. Twitter priced its highly anticipated ipo at 26 per share. That means the company will raise roughly 1. 8 billion in proceeds with an option to raise an additional 270 million more. Was more is that the company will now be valued at more than 18 billion, quite a rich valuation for a company thats not yet profitable. In to 16, its expected to have 1. 3 billion in revenue and potentially over on 200 million in edta. Thats for a Company Seven years old, one of the highest growing in silicone valley and one of the most eagerly anticipated of this year to be sure. Well have more details as we get them, but thats the latest. Thats kayla with the details. We will bring you an exclusive interview with the twitter ceo in just under an hour. So clearly we want to know today where do you think the twitter stock will close at the end of the day . Send us your thoughts, your email, worldwide cnbc. Com, tweet direct to me rosswestgate or cnbcwex. Now, besides twitter, plenty of focus on Central Banks today. Flagging inflation in europes peripheral countries is expected to dominate at the cbs Rate Decision meeting in frankfurt. Geoff and anna have taken up their usual perch in frankfurt and join us for more. Big question, guys. As we see the euro at a rate that just isnt just a five at the economic box, does the ecb have any tools in the box to bring it down . Well, i guess the euro is a challenge here, but depending on who you lisp to at the moment, its a question of what is happening in the United States and japan and elsewhere rather than what the ecb is doing or what individual european policymakers can do at this point. But the euro is a part of the problem as is the very weak growth story. The recovery is still intense. Its gradually progressing, but its still weak, uneven and fragile. We must find a way to close this financing gap. And there is absolutely no way that it can be done in way of rollover bond which results in monetary fnz financing. I dont want to anticipate the results of our deliberations. I think what is clear is there will be Liquidity Provision peps. The European Central bank has a number of instruments at its disposal and they will eventually use all the possible remedies. So, ross, there is a temptation to say mr. Draghis armory is quite limited at this point. Its either going to be an Interest Rate move to deal with this disinflation trend or it has to be some additional liquidity facility, it seemed to me. But you cant write this gentleman off. He always seems to pull a rab i didnt tell from a hat, whether its Forward Guidance or something else. What do you think . For the last one in paris was very quiet. No news at all. But well be joined now by teachers who is an economist with do you have ya bank. What are you expecting from that meeting today . We expect from the ecb we expect no change of policy today. We expect that well continue with the Forward Guidance. They will highlight that theyre ready with all instruments available and also that ready. What disappoint recently were the Unemployment Rate which increased to a record level of 12. 2 and also a disappointment rather falling off the inflation rate, so only 0. 7 . But the dis appoiappointing inf rate was mainly due to one off factors which we think is only valid for october. Its falling food prices and Energy Prices and also we have somewhat of fx due to tech change from Previous Years. Whats going to change is that we have this asset Quality Review Program that will kick in at the end of the year which leads us down the road to the single supervisor and obviously some stress testing. The bank must be concerned at this stage that we will see some tightening up, perhaps, of liquidity, a reduction in the extension of credit for the smes as the banks try to, perhaps, window dress their Balance Sheets a little bit here. Could we get the extra liquidity in a more targeted country specific way, perhaps . This could be at the beginning of next year. No on the quality will increase and maybe the volatility could be higher. This could be a reason for the ecb to start a new hero and to have the banks near liquidity measures and the banks could then use this money with, again, carry trades like in the past at the end of 2011 starting at 2012. And to increase their is one possibility and where the ecb could step in at this time. But for this to happen, we expect this only to happen if we see some weaker data points and some negative new slows at the quality review. So we can expect the ecb to cut rates anytime soon next year. I mean, looking at the inflation data, we already stressed that looks a little bit like theyre heading into a deflationary environment, i believe, since some parts of the eurozone. Would you look at the thing, the countries of the eurozone, you will see it offered in germany and some other countries. And the periphery countries, the inflation rate is very low, in some cases negative. And this is a number processed with all the restructuring of the economy. And we also expect use the one off effect at the moment that the inflation rate on a whole will increase by some 10 Percentage Points and for the end of the year and even to be on a relatively low level next year in 2015. But that shouldnt give a reason for the ecb to step in because of the normal structure changes. What is the funding for Lending Program for europe here . Where is the help to guy scheme that you see in the uk . We did get a whiff of an sme asset backed securitization plan. Its gone away in the interim. Is it time for mr. Draghi, perhaps, to put that back on the table just to talk about it, perhaps, so you show the market that there is still very much an easing bias and a willingness to help small and Medium Sized Enterprises with funding . What could be a possibility for the ecb would be that they extent the regime in the middle of next year to maybe 2015. This could be one in the shortterm. But for small and medium sized company, i think its not to the ecb, its, instead, from the political side and to improve the credit conditions. Okay. Thanks so much for joining us, heico peters from deutsche bank. And we do have a poll running on our website asking you whether you think a rate cut is likely at this meeting. I dont see it, really. Annette . I think its a very, very uk bias were having in that poll, but thats just my first reaction. People who think that rates will stay at the level where they are now and almost 50 , so i rather doubt it. So hold or fold, ross, are you a gambling man . Id go for the hold if it was me. And i agree with annette. There is certainly an anglosaxon bias in that. And i wonder what people are saying what they think they should do rather than what they actually are going to do. Plenty more. Thank you for now. Its not just the ecb meeting today. The bank of england is really to reveal the latest on its benchmark Interest Rate. It could be a quicker unemployment race. The bank announced in august this year that that level would be a potential knockout for any rise in borrowing levels. Helia is outside the bank of england. Helia, we keep seeing the data, more data this week, very Strong Services sector pmi. I dont think theres an economist around at the moment who believes in the current bank of england forecast. I think youre right, ross. I think its all been about mark carney versus the markets. Markets dont believe rates will stay low at these historic levels for that long. Economists dont believe it. Weve had a slew of revisions from both economists, the imf earlier this year. We had it from the cvi revising upwards. And what you were talking about earlier is not actually whats happening today. I dont think were expecting anything to happen from the mpc decision today. Rather its next week because next week, the bank of england behind me will bring out their inflation report. And this is how the bank tells the world how it sees the economy, how it sees risk, and this is how it unveiled Forward Guidance the last time round. As you said, those expectations that unemployment wouldnt fall to 7 . Remember were at 7. 7 at the moment. Were expecting the bank of england will come out and say, actually, we dont have to wait. We dont think its going to take until the back end of 2016. It might happen earlier, somewhere around the beginning of 2016 is when unemployment might get to that important 7 level meaning Interest Rates would be taken up at that point. The one thing i would mention is productivity because thats important to look out for, too, in that inflation report. It was said recently really historically low productivity levels in this country. Weve had five years of productivity falling. So if we see productivity rise in the same way were seeing Economic Growth in this country, then Unemployment Rates might not fall that far. So next week is going to tell us. Thanks very much indeed for that. That rate discussion coming out at 12 00 london time, the ecb Rate Decision coming out at 13 45 cet. In other words, only 45 minutes after the bank of england. So here we are, an hour and 14 minutes into the trading day in europe. Over nearly 200 Companies Reporting today in europe. Its been an anormus earnings day. Caution ahead of those Central Bank Meetings and u. S. Gdp numbers a little later. Around about 6 to 3 currently decliners outpacing decliners. The ftse yesterday was down some 15 points. Right now, were down another 12. The xetra dax is fairly flat as is the cac 40. The ftse mib is down 0. 6 . 2. 64 on treasury yields. Where we were kind of this time yesterday. Gilt yields still yielding 2. 71 . On the currency markets, the dollar index has just come off its sevenweek high. Dollar yen, 98. 70. The aussie has taken a bit of a tumble today. Sterling above 1. 600. And it looks in a better place compared to the likes of euro, which is nevertheless firmer today, 1. 3522. Off that 1. 32342 sevenweek low which we hit earlier in the week. Thats where we stand right now in europe. Sixuan has the wrap for us out of asia. Hi, sixuan. Thank you, ross. Asian markets under pressure ahead of the sensitive u. S. Jobs number as well as the ecb decision. The nikkei 225 ended down about 0. 75 as markets digest another batch of earnings. In caution prevails in china ahead of more macro data along with the key policy meeting starting this saturday. The shanghai composite lost 0. 5 . The hang seng index in hong kong down 0. 87 . Elsewhere, south korea ended near its fourweek lows as Samsung Electronics continued to underperform. Australias asx 200 lost a modest 0. 2 as banks traded ex dividends. Earnings are very much in place. In japan, toyota succumbed to profit taking after q2 earnings but not as high as expected. On the other hand, a Hong Kong Chinese pc giant saw its profit just to 220 million beating forecasts. And that marks more than three straight years of quarterly double digit growth. Lenovo shares gained over 2 . But chinese financials under pressure today after a report that beijing is working on restrictions on Inter Bank Market activity to crackdown on shadow banking. Minsheng bank hshares were heavily affected and shares ended lower by 2 . Thats a look at the asian markets. Back to you, ross. Catch you later, sixuan. Still to come on the show, as european firms continue to blame head webds for their performance, continental beat expect azs despite the effect. How did they do it . Well find out after this. 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 . Astonish glg, nearly 200 Companies Reporting results today in europe. Adidas shares in frankfurt up 3 . Sales dropping because of a distribution problem in russia. And the company lost ground to nike. But its the same performance will pick up ahead of the football world cup in brazil. Rangold resources, stock is up 6. 4 today. Core profits have been hit by the falling gold price. But the mining giant revealed its still on track to reduce costs and boost production. That was the bit the market focused on. Well talk about continental in a few moments time over here. Well be joined by the cfo shortly. Before that, siemans has announced a 4 billion Share Buyback program. It says fullyear earnings will rise about 15 , more than double the growth rate this year. Joe told cnbc on a interview that he was committed to the turn around plan. We look forward to an even greater to 14. We wanted to improve our profit per share by at least 50 on a assumed flat revenue base. We also are going to issue a Share Buyback program up to 4 billion over two years and that that will take it from there. In terms of the operating margin, what was the operating margin and how far away from the key rivals are you on that metrics . Well, the company has always said that in a transition period. And so the operating margin was 7. 5 , which was up to our expectation. And we are going to improve that during the course of 2014 of up to at least 200 to 300 base prints. So we will arrive at some 10 pish percent Going Forward in 2014. What do you need to do to the company to get it to those levels . Weve already seen, obviously, you putting your mark on the company in the first 99 days, getting ready of the regional classes, announcing 15,000 job cuts, 4 of the workforce. What are the key areas where you see siemens needs to improve . The key areas definitely are that we need to get even closer to our customer toes create demand so that it can grow again, grow the company to its opportunities. Second topic is, of course, to improve our operational excellence, which gives us at least 200 to 300 base points on margin improvement on the operating level. Then we also need to make sure that our corporate core is as effective as it can be. Then this company will be back where it belongs to be. That was the siemens ceo earlier speaking to squawk box. Continental beat expectations. Third Quarter Sales up to 8. 35 billion euros. It was 8. 13 a year ago. Joining us for more, wolfgang slaifr at continental in a first on cnbc interview. Herr slaifr, thanks very much indeed for joining us. Youve hiked your epic margin goal because costs havent gone up quite the way you thought. Im wondering if maybe on that front the stronger euro helped you deal with raw material costs. We are losing on the top line due to the Exchange Rate effect. On the profit side, its basically neutral. We are feel hedged, so, yes, we profit a little bit on the Raw Materials side, but then we sifr on the other end side. Do you think people have companies weve heard a lot from have talked about the strength of the euro being an imbedment. Are they bleeting too much . Do you think policymakers should try and talk the currency down . Well, actually, i think this is not always the right way for policymakers to try to influence the Exchange Rates in a certain way. For continental, overall, yes, on the stateside, we have some negative impact. As i said, on the profit side, for us, this is balanced out. We are naturally hedged. So for us as a company, this is not so much of a headache. Just tell us more about your view of the european car market. You said its you think its going to stabilize. What else are you seeing . What is giving you the information that that is the case . Well, we have seen, as you know, quite some quarters where the markets were declining in europe. And now we see for the Second Quarter type of a sideways development. And if i look forward, if i look at the orders which our customers are placing, it, looks like the market is stabili