High. Peugot is lining up candidates to replace its ceo. And shares are down 4 in shanghai after fridays pipeline explosion and the death toll climbs to 52 people. Announcer youre watching Worldwide Exchange bringing you Business News from around the globe. A warm welcome to the program. Were one hour and one minute into the trading day in europe. The up side as you can see. Nine to one advancers outpasz decliners and a little bit more on the dow jones stocks 600. Weve had seven weeks of gains in the United States. Low oil prices are benefitting risk asset a little bit. Nikkei 2. 25. Up 1. 5 . Shanghai composite down a little bit. Hang seng is fairly flat. The ftse last week was down 19 points,. 3 over the course of the week. This morning were up half of 1 . Zet tre dax is up threequarters. Fresh high. Currently trading at 9,000. French car maker is doing well. Prospect of changes as we say at peugot. French car makers were the significant share in iran. If theres a chance of restrictions being lifteds, they may reopen that market as well. Lets break this down into sectors. The best sectors is travel and leisure. We saw it down nearly 3. Well look at the oil prices, 108. 05. On fears and hopes depending on what side of the market youre on with a significant easing or increase in production. Oil and gas is the weakest sector as a result of that. Other stocks were looking at this morning as well. Shares in fruselias medical. Theyll reduce payments to dialysis patients. Theyre currently up 3. 25 . Theyre trying to keep the chinese partner dong phen happy. Iran was a market for french car makers, whether that is a problem. Peugot used to make a significant part of their business in iran and had up to a 40 share in that country. That is, indeed, very good news for the french car maker. Im not sure thats the positive market change today reflecting the possible departure of the current ceo. Its reflecting the fact that the negotiations with dong phen are going on. They are likely to enrich the deal. They have requested a management reshuffle as part of the deal. Also the ceo is facing increasing pressure from the peugot family. Theres no question that the peugot family wants a change. The former chief operating officer of rono is about to join them. He could be the first in line to become the first in line to be the ceo of the company. Now as part of the plan the risk part of the package for peugot would involve 4 billion capital. 3 billion from dongfeng and from the french state. All of this has not been officially confirmed yet. Stefan, thanks for that. Thats the latest out of france from the automakers. Take a look at where we are with bond rates. We actually saw a fall. On that 2. 75 yield is where we stand for a moment. At the end of the week were at 2. 78 and 2. 79. 1. 73 higher. Gilt yield. On the currency market, dollar yen is up at a six point high. Dollar yen. 101. 69. Weve been up to 101. 89. Euro dollar just above 135. Weaker this morning and sterling was a percent higher. Got up to 167. A little bit weaker this morning. The price of this is falling. 108. 71 on brent. Fears of greater supply to the market. Nymex is down 93. 53. This follows this Historic Deal between world powers and iran over the weekend. Over four days of talks in geneva. They agreed to ease economic sanctions for iran for a sixmonth period in return forte ran curbing its nuclear activities. This first step will create time and space over the next six months for more negotiations to fully address our comprehensive concerns about the iranian program. Because of this agreement, iran cannot use negotiations as cover to advance its program. Irans negotiators return home to cheering crowds with the foreign minister haled as an ambassador of peace. Speaking in a National Broadcast they said the six month period was the beginning of a new experience for the nation and eventually the redeem of sanctions would be broken. Joining us for more, nbcs a man mohyeldin. Youve been around many times. How did we get to this stage to have this agreement signed . Well, theres no doubt theres a tremendous amount of pressure being levied against iran. The iranian leadership has changed. The more Important Development has been the election of the iranian president. Thats certainly changed the diplomatic environment, if you will, between the United States and the iranian government. Theres been an intensification of the governments. The historic phone call between u. S. President barack obama and president rouhani. The change in the Political Climate inside iran and the diplomatic arena made this deal possible. More importantly no doubt that the sanctions played a role in increasing the pressure on the iranian government and without a doubt the fact that these sanctions did not stop iran from developing its Nuclear Technology also was for the United States and its allies a major concern that indicated that perhaps these sanctions are not going to be enough. So a lot of changes on the ground that led to this agreement. Keep in mind, this is a temporary agreement, not the comprehensive one. It is simply an attempt to try and create the environment for the next six months in which serious negotiations can be held to address all of the fundamental issues that are yet to be resolved. Yeah. We have been here before. We had interim Nuclear Agreements between 2003 and 2005. They all failed as well. How much hope should be placed on this deal . Well, theres no doubt there should be some cautious skepticism. That does not necessarily mean that the agreement is going to fail, but without a doubt there are different environments now. There are new realities in the middle east and more importantly some of those that we just mentioned including the changes on the ground are likely to give this agreement a possibility of success. Many of the people ive been speaking to have expressed optimism. They say the real work will now begin over the next six months. If you look at some of the agreements details including allowing inspectors into irans facilities on an almost daily activity, those are things that are historic. They will be perceived as Important Developments that could be the final break through in allowing iran to return to the community of nations but more importantly recognizing its right to Nuclear Technology. Yes. Theres a difference, isnt there, between the right to Nuclear Technology and right to enrichment. Is there some confusion over that . Well, its all about intentions. The criticism against iran is that the Nuclear Program comes with the intention of developing Nuclear Weapons. Iran has repeatedly argued against that. It just wants the right to develop Nuclear Technology as other countries has had. That is the argument theyve made. It comes down to whether there are intentions that are trustworthy on both sides. The iranian government and people look at it as preventing them from developing Nuclear Technology, from becoming energy dependent or independent. There is a deep seeded mistrust on both sides. Thats why it comes back to whether or not this agreement can foster a little bit of confidence. The u. S. Believes this agreement will halt irans Nuclear Program and will make them take actions reversing their ability to develop a nuclear bomb. All right. Ayman, thanks for that. Well catch you a little bit later. Head to our website for more on this story. Well ask if irans break through nuclear deal could herald a longterm reduction in prices. Follow us at cnbc world. Death toll in one of the worlds worst industrial accidents in china has risen to 52 with 11 people still missing. A pipe explosion in china has left 136 injured. President xi jinping is calling for help. British Government Advisors is accusing rbs for pushing viable businesses into a turn around. Its going to strip their assets and make more profits for the bank. The business secretary has demanded an urgent response and referred the report to city regulators. Joining us for more on the sector, ceo from river bank. What do you make of this report . More importantly, what is going to continually happen . The idea being that the banks said we know we can fall into trouble. Well put you into our special restructuring then they charge fees of 10, 20, 30,000 a month which is guaranteed to make them failed. My reaction to the story was not another story. When will they stop finding things wrong with these banks. The u. K. Banks are the ones that seem to have all the problems or problems only so far have been found in the u. K. Banks. Further afield im sure theres plenty of conduct but thats probably not a story any time soon. Are we going to find problems as we go through this period of ecb stress tests. I think its like having the tax man come and audit you. He will find problems. He has to find problems. That is what the seat quality review and stress test is for. Its so we can feel a little bit more comfortable with the sector and retain or store stability in the Banking System. If you go to the doctor you want them to find something wrong with you or give you a prescription. Before we continue that discussion, other things well give you. Rebranded unit will begin its road relatively soon. The ecb president mario draghi is meeting with banking ceos from many countries today. Its his third meeting from banking chiefs. It will be subject to a comprehensive assessment on whether their institutions can withstand future crises. What is the most opaque part of the view of the Banking System . This is what mario draghi wants us to do, to get away from this idea that there are problems in different nations Banking Systems. The german system is worse than the italian system. These are banks operating in germany or operating in italy. If you have one regulator, if you have one set of rules and one way of judging them, which they are now working on, then i think thats the yes. One way of bailing them out, have we . We are working towards that. If it comes down to an individual country bailing them out, then they are german and italian. At present there is a reason for the states to stand behind their Banking Systems. A countrys ability to bail out its Banking System has reduced somewhat inasmuch as the threat of doing that would the burden would first fall on subordinated bond problems. That may be a step the governments dont want to take. Already now we have a centralized european way of thinking about bailing out banks. We know that its in the front line so youre right. The mechanisms to bail out banks should be in place quickly. They should be in place by the time that the asset review is finished. What do you think were going to get from germany and france on resolutions . Weve been given tight time lines that they failed to meet. I dont know. I mean, i think if they use the aqr as an excuse to do so, then theyll probably find something that they need in order to push that. Wheres the opportunity at the moment for banks . We know where the risks are. Wheres the opportunity . In some ways i think it gets worse from here while people worry about the asset quality review. The outcome is one to restore confidence. This Time Next Year some banks will do badly and ones that are sort of well known to have problematic assets. However, i like to think on the European Union basis, some companies have a first level. Those countries where the regulator has been more proactive. You started by asking rbs. Rbs has been through some problems. The regulator finds problems. I take confidence in the regulate or being all over them. Its less so in all of europe and portugal. The Spanish Banks, theyve been through their stress test and aqr last year. They had to do it three times to get it right. Therefore, i wouldnt expect too many Horror Stories to come out of the Spanish Banks next year. Always good to see you. Thank you so much indeed. Any thoughts and comments, email us worldwide cnbc. Com. Swiss voters have rejected a law which would have limited a pair of executives. Well get the details and ask what it means for those calling for a compensation cap. More details emerging of a major ipo action in china at 10 30 ct. New help for asian markets. And for years abu dhabi has been an oil based country. The country is trying to diversify a little bit. At 10 50 well hear about soaring housing prices as infrastructure kicks in. Were off to ft. Lauderdale, florida, for a list of particulars and what to expect on todays release of u. S. Pending home sales. Worldwide exchange continues in just a few minutes. Announcer youre watching Worldwide Exchange. Weve got some news out of thailand. Antigovernment protesters are outside of a Thai Government information area. Well get the latest on thailand when we talk about the investment implications on that. Keep your eyes here. They have talked about silvia berlusconis release. Theyll vote whether berlusconi should lose his seat in parliament. Napolitano said any protests should stay within the law. Swiss joeters have rejected a law. The one in 12 initiative would have made it illegal for companies to pay any of their staff more than 12 times the wage of the earner. The vote was held after the youth wing of the social Democrat Party gained 100,000 signatures to force the poll. Voters had rejected that proposal by 66 to 34 . The vote is just the latest in a series of european proposals designed to curb executive pay. Carolyn is with us on set. What do you make of the vote . How strong is the movement . The prompt overall is very strong. Remember, its just a couple of months ago, early in march, we saw the passing of this socalled fat cat pay vote. That will curb once once it is passed in the law it will be curbing the golden hand shakes, the golden parachutes. It will enable some of the shareholders to have a bigger say in what executive compensation can look like. This latest move is overwhelming of rejection against. I dont think its too much of a surprise given that this one to 12 vote, that would have been very, very extreme. I mean, if you look at some of the multiples for switzerland, rochas ceo gets 251 times. Ubs credits is more like 100. Nestles is more than 200. Had this gone through, this would have been very, very punishing for some of the ceos. Obviously there was heavy lobbying on part of the politicians and the companies for the vote not to go through. Its not the end of the movement because over the next two years we are still going to be seeing two full proposals in the same vain. One proposes a minimum wage of 22 franks an hour. I think 4,000 in annual compensation. 4,000. Yes, another one calls for the unconditional income for all adults. Whether you work or not, you would get income in switzerland. Whether you work or not . Whether you work or not. Okay. Is that different from unemployment benefit . That im not so sure about. All right. Brian kaplan stay with us. Brian kaplan, the banker, is with us in studio. Brian, is the sbwiss vote the right way . I think common sense prevailed. It would have caused chaos. Its so strict, one to 12. Clearly there is a mood to change. I think its throughout the western world. Theres a feeling that the shareholder packages isnt working the way it should be. Really the executive pay should be the shareholders. We havent seen them do their job properly. What is this, increasing it in the global world. Its a global company. Whats the comparison were making . The comparison, should it be with the swiss . Should it be whats happening in the u. S. . Is the problem u. S. Shareholders and u. S. Stocks . Yeah. I think the problem, exactly, is partly in the u. S. As you just mentioned. I think the solution has to be a global solution. Something like the g20. It doesnt involve saying the ratio has been one to 12, it involves mechanism in the shareholder structure. Its interesting you mentioned the focus earlier in the year. In that vote they said the shareholders must vote on major salary changes. I think thats the right way to do this. You basically tell the companies what you expect. You dont lay down specific guidelines. I think in the long term thats Getting Better results. Have you seen the shareholders, not necessarily on tape. Thats right, yeah. In the environmental area youve got to think of setting standards for how companies are supposed to behave in the environmental space. Why dont we have the same sort of thing in the paid space, you know . Not only that, how much companies borrow. I think the other key thing is its okay to pay people money. I dont have a problem with that. Its when you pay them money and they dont actually deliver and theres no retribution. Brian, do you think that switzerland could act as a role model forex he cantive pay . The big difference that i see between switzerland and the rest of the world is the fact that switzerland cant bring up refr ren dums becau referendums . Interesting, its already theyve already been through this method. They have the golden hand shakes and the golden parachutes. The exceo was going to claim 78 milli million. That appears to be absurd and it should be absurd. So i think the swiss launching a debate, well probably see it next in the European Union and maybe in the states as well. If you lead the way you would have all the Major Industrial powers and youd be setting a standard. Thanks for that. Brian campbell, carolyn, thank you. Heres a story for conspiracy theorists. Jamie dimon met with people at Buckingham Palace. According to the reports the guest list included tony blair and kofi annan. The event was hosted by prince andrew, duke of york. Considering jpmorgans considerable legal bill in light of the recent 13 billion settlement, what do you think would be a more appropriate venue for an e