The latest diplomatic efforts falter. U. S. Congress is set to launch a probe into General Motors recall of nearly 1. 6 million vehicles worldwide. Plus, puerto rico will test investors appetites today as they sell 3 billion worth of bonds, the largest ever high yield debt deal. Hello. Warm welcome to todays worldwide exchange. The mystery of a missing Malaysia Airline flight continues today with no signs of its disappearance. We are looking into four areas. One is hijacking, two sabotage, three psychological problem of the crew and, four, personal problem among the crew. Malaysian authorities have heard one of the men traveling on a stolen passport is iranian. Officials say they believe he has no link to terrorist groups. Cnbcs sri is n joining us this morning. They lay out these four areas of investigation. When they talk about personal problems amongst the crew and passengers, what are they alluding to . The police chief didnt really elaborate exactly, but he did say and i think that he was speculating on this is that there could be an element of Insurance Fraud possibly going on. But no certainty on that score. I mean, its open to speculation, really. It could be a suicide, it could be anything, it could be i think thats the association with the psychological problem. Thats the inference i read, anyway. What is interesting is there are two individuals that boarded this aircraft with stolen passports. The first one you were talking about, hes a 19yearold iranian man. He boarded the plane using a stolen passport. They did name him as puria mohamed tubet. His mother was waiting for him in frankfurt, germany. It doesnt look like he was a terror suspect at all. It was more likely that he was trying to migrate to germany. The authorities have been helping the malaysians with their inquiries. So in my mind, the focus now turns to the second individual. They did release a photograph of him and they havent named him, but he was the one who was using a stolen italian passport to board mh370. Let me stress that i dont think terror can be fully ruled out as a linkage here to mh370. As you heard the Malaysian Police chief say earlier, there are four areas of inquiry that they are looking at. Hijacking, sabotage, psychological problems and personal problems with the crew. This is what the police chief had to say regarding the iranian suspect. We have been checking his background. We have also checked in with other on his profile. And we believe that he is not likely to be a member of any terrorist group. Ross, there were some absolutely extraordinary themes here about just over an hour ago when the director general of the Immigration Department held up some screen grabs, some reproduced pictures. I think you have some of them on air, though. If you dont, this is one our producer took on my ipad. And it was nothing short of organized chaos. T its much quieter now, of course, to try and photograph this individual who was using a stolen passport. What i want to stress here is its important to get fixated on the security perspective, but the search does continue for mh370. So far, four days later since they disappeared off radar scopes, there is nothing, not a sled offest. That leaves the families of those passengers on 370, some of which are here, including the chinese families, in a terribly ago nighting position. The search does go on, though, but it is going to be a painful and painstaking process. Ross. Sri, thanks for that. Interpol is about to hold a press conference in about an hour. Well bring you all the news from that as it happens. Ukraines acting president has launched plans for a national guard, calling for volunteers to the new force. U. S. Secretary of state john kerry has postponed tentative plans to visit moscow to find a diplomatic solution. Lavrov said the proposal by the white house is unacceptable. Meanwhile, russia says it is drafting counterproposals to the u. S. Plan for continue negotiation. Russia meanwhile continues to strengthen their hold over the region. The former president , yanukovych, is due to hold a press conference in russia right now. Theyre waiting for that to happen. As far as u. S. Equities are concerned, the s p and the nasdaq pretty flat. Right now, we are called higher by 0. 25 points for the s p, dow is down over 3 points, the nasdaq up 1. 5 points. European equities an hour and seven minutes into the trading day, ftse is down 6 points. The xetra dax stronger than expected data out of germany. The cac 40 is down, flat, as is the ftse mib, as well. Check in on u. S. Treasury yields. After that jump up posted jobs report from 2. 73 to 2. 82, just coming down a little bit. On the currency markets, not far away from where they were yesterday, remember, we hit that fresh 2 1 2 year high on friday of over 1. 39. The u. S. dollar, just over the 103 handle. Sterling, 1. 6623. Thats where we stand in european trade. Li sixuan has the updates out of singapore. Thank you for that, ross. China markets not able to hold on to their morning gains after the mild drain of 6. 3 million from the system. Modest gains on the shanghai composite. The shenzhen comp ended flat. Elsewhere, cutting its yield on exports, the nikkei 225 still gained 0. 7 . Otherwise, in australia, a pullback in the Business Condition survey kept investors cautious. The asx 200 ended on a flat note. As for individual stocks, chinas construction and property stocks can rebound while valuations seemed to be attractive after the recent slide. Yesterday, china merchants posted a 30 rise in contract signing sales from the first two months this year and its shares recouped some of the losses of yesterday. After yesterdays 10 slemp. That is a look out of asian markets. Back to you, ross. Sixuan, thank you for that. Stateside, january wholesale is out at 10 00 a. M. Eastern, forecasted to rise 0. 5 . Dicks sporting goods, American Eagle reporting results before the open. After the bell, wall hear from Caesars Entertainment and veri ddz fone. Joining us for the first part of the show today, gina, cofounder of floebl. A lot going on in the world as ever. We have geopoliticics in the ukraine. Concern about growth and china in japan. But at the same time, the s p up near record highs, right . Continues as if nothing is happening. Is that justified . I dont think its justified. Part of that has to do with theres a lot of concern around weather and weather related macro data thats coming out. The markets are continuing in this space that is unjustified, if you ask me. If you look at the rest of the world, that probably is the best place to put your money, right . Because its a relative game at the end of the day, right . Perhaps and extremely high priced at this point. If you look at ee mirnlging markets, they cant be any cheaper. I would any say anything constant be any cheaper. Certainly the baby has been thrown out with the bath water there. Why do you say that . I think emerging markets do have positive Sales Growth Company by company. As a whole, the market has come down. I think theres quite a bit more opportunity on a stock by stock basis in emerging markets than a whole would suggest right now. Good to have you on. Mark carney has said to be questioning about the banks internal review in the manipulation in the Foreign Exchange market. Theyre currently looking at whether the bank was well informed of the activities. Theyve been studying more than 15 global banks. Hes going to be really influential, including andrew. Hes going to be grilled. First hes going to be grilled on whatever happened to forward guidance. That was your flagship policy. Then youll be i thought he amended it. Then hell be asked about scotland and then mps are going to ask him the really tough questions about what happens with this fx remember, we see that the banks have finally emerged from a series of scandals. And last year it emerged that a bunch of traders have been sharing client information. Look, this was actually an open secret. As we said, 15 banks, 24 people have been suspended. One of them from the bank of england and we think thats going to be martin mallett. Hes going to be asked that today. And the question is, the bank hasnt come clean, even though its supposed to be. The new bank under carney with transparency, memberships were real that they could have been told as early as 2006 that this is what was happening in the marketplace. So if the Market Intelligence fails, what you said, the bank of england, and why did they passettely agree or condone or turn a blind eye to what is clearly manipulation . These are the questions facing the government today. Thank you very much. The questions on fx are expected to begin at 1300 cet. Up next, more about the clues for missing flight 370 continue. We dont back down. We only know one direction up so were up early. Up late. Thinking up gamechanging ideas, like this dozens of tax free zones across new york state. Move here. Expand here. Or start a new business here. And pay no taxes for 10 years. With new jobs, new opportunities and a new tax free plan. Theres only one way for your business to go. Up. Find out if your business can qualify at startupny. Com save you fifteen percent or more on car insurance. D Everybody Knows that. Well, did you know pinocchio was a bad motivational speaker . I look around this room and i see nothing but untapped potential. You have potential. You have. Oh boy. Geico. Fifteen minutes could save you fifteen percent or more on car insurance. Police say a man traveling on the malaysian plane with a stolen passport was iranian. Gm is conduct ago probe of faulty switches. And puerto rico is having a bond sale. Keep your eyes on developments in the ukraine. The former president yanukovych hold ago press conference right now in russia. He says he remains ukraines president and can he is still commander in chief of the armed forces. He says soldiers will not obey what he describes as criminal orders. Now, as youve heard some sense this morning theres an Iranian National who has been traveling on the missing air malaysian plane under a false passport. Malaysian police have outlined four areas of investigation including hijacking and personal or psychiatric yolal issues among the staff. James, thank you for joining us. Clearly for the family of those on the plane, this is a difficult time after four days of absolutely no idea what has happened. Could it be different . It could be very different. Our thoughts and prayers are with each of the families that are involved in malaysia 370. Air france 447 happened nearly 4 1 2 years ago. It disappeared from crews altitude, disappeared into the ocean. They took some two years for the black boxes, which is an important safety issue, to be recovered. Back then, we and the families were asking for Live Streaming data as a mart of their safety to be upgraded back to base. Then there wouldnt be this frantic search for the wreckage and the black boxes. There have been previous accidents where the aircraft took the crews altitude and the black box was located eight months later. So its not acceptable for the families who dont know whats going on and there could be a very simple technological improvement. How easy is it to have the live stream data . Certainly. Certain airlines have a live updates from the base. The families of this flight do want know what the air loin has. Thats not acceptable. There should be more Information Available to the families and in beijing. It took them a while. Theres a transponder with every play that pings out the location. Yes. Which theoretically, in air frances case, it took them a while to find it. Should we expect that there should be one surviving and transmitting from flight 370 . There will be several in the aircraft, including the two black boxes that should enable the location of them. But when you dont know where the aircraft has come down, theres a large stretch of ocean that needs to be looked at. And then later in relation to air france. So, yeah, there should be a you just have to be within to, 30 miles of it on the ocean . Certainly. And when you dont know where youre supposed to be searching, thats the problem . It is a problem. Timely, this idea of what the airline holds and what it may or may not know, why would they not release if they do know more, they have some data, why would they not release it as this stage, because its incomplete . Quite possibly. Regrettably, it looks like were looking at a search and recovery operation. But the airline should give whatever information it has, whether its operational or related to potential criminal acts. Thank you for that. Still to come on the program, as puerto rico repairs to sell 3 billion in bonds, will it be enough to rescue the troubled u. S. Territory finances . Nor on that when we come back. U. S. Futures this morning are indicating a pretty flat start. It was a pretty flat close, really. The dow just down 34 points with the s p and nasdaq going nowhere by mondays session. Tease what the futures are indicating at the moment, as well. At the same time, puerto rico is expected to sell nearly 3 billion roughly worth of bonds today. The Interest Rates are considerably lower than many expected. The sale is one of the biggest ever of high yielding debt. Reports suggest preliminary price documents on mondays show. The bonds are expected to sell in europe between 8. 8 and 8. 87 . And its thought the junk related u. S. Territory would have to pay nearly 10 or higher given its weak finances and fears it may have to restructure debt in the future. Gina sanchez is still with us. That tells us something, the pricing of the debt. Absolutely. It tells us about the complacency thats going on generally in both the stock and the bond markets. I find it incredible. Obviously, puerto ricos debt is pricing off the u. S. Markets which actually have been incredibly contained. All said and done. You know, weve just been in a range bound all year. And if you look at thats 3 and weve done, you know, nothing but trend lower than that. Exactly. Well, yeah, we have. And then we pretty much hit a range once we went down. And a lot of that really had to do with the weatherrelated concerns. Equities, the vix is actually quite benign at the moment. And so there is, i think, some complacency complacency is also this enormous demand of Pension Funds or whatever for a return, right . You see that, the demand for spanish and italian papers, italian spread, the demand for that. Corporate credit. Absolutely. Right. When you have equities where they are, youre not getting much of a dividend yield for that. The need for yield comes back into the picture. That will take us to a lot of places. Also still to come, print aerps owner addresses the Washington Chamber of common ee depress today. Will he succeed in a shake up of the sector . The sector . This is worldwide exchange. Im ross westgate. The headlines today, the search for missing malaysian flight 270 widens. One of the passengers stole traveling on a stolen passport is likely not linked to terrorism. We believe he is not likely to be a member of any terrorist group. Ukraines acting president takes new military steps vowing to fight harshly separatism after Viktor Yanukovych says he remains the countrys president. U. S. Tt barack obama is expected to launch a probe into gms recall of 1. 6 million vehicles worldwide. And the cash backed u. S. Territory puerto rico looks to launch the highest number of bonds. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Good morning to you. If University Just joined us in north america, welcome to the start of your Global Trading day. U. S. Stocks closed fairley flat yesterday. The dow down nearly 40 points. The nasdaq and the s p suspect didnt do a lot on the side of the break even line. Thats what futures are indicating at the moment. S p pretty much on fair value. About 2 points above it for the nasdaq and just 2 points above it, as well, for the dow. European equities fairley mixed and flat. The ftse 1 is 00 yesterday was down 23 points. Just off eight at the moment. We had very strong german export data today, up 2 in january. Plunge in chinese exports for the month of february. Import webs even more up. And the ft. If it is mib is up 0. 1 . Meanwhile, the mystery of the missing Malaysian Airlines flight continues into its fourth day with no clues as to the reasons for the disappearance. Malaysian police have highlig highlighted one iranian passenger traveling on a false passport. We have been checking his background. We have we have also checked him with other police and on his profile. And we believe that he is not likely to be a member of any terrorist group. The mystery of the missing Malaysian Airlines flight continues in his fourth day. Meanwhile, no clues for the reasons for the disappearance. Well bring you all the news from that as it happens. Meanwhile, the ukrainian former president yanukovych has been holding a press Conference Today in russia. He says u. S. Law prevents the United States from giving Financial Aid to illegitimate governments and that crimea is breaking away from the ukraine, but its his opponents fault. He says he will contest the u. S. Financial aid, as well. Meanwhile, the house energy and Commerce Committee reportedly will launch a probe and hearing into the jrl motors recall of nearly 1 is. 6 million vehicles worldwide. The recall has been linked to 13 deaths. The wall street journal says lawmakers will examine the slow response of gm and u. S. Safety regulators. The Committee Chairman sponsored the last big piece of safety legislation sponsored by 2006. Despite their investigation, gm up today 0. 4 in current frankfurt trade. And the ceo sprint chairman mashie tsong says hes likely to add tmobile. Some make the comments on monday night. He says he has no fault with the agreement with tmobile, but a deal would give sprint the scale needed to better compete with verizon and at t. Hes in washington to speak with the u. S. Chamber of commerce today, but isnt expected to directly address the issue of consolidation. Tmobile up 0. 9 . Joining us with his thoughts, k