Terrorists. Thats from britains science chief as he slams u. S. Tech company for turning a blind eye to misuse of their services. And u. S. Voters head to the polls today with the key Midterm Elections deciding which Party Controls congress and whether there will be two more years of political gridlock in washington. Youre watching Worldwide Exchange, bringing you Business News from around the globe. And we have to kick off with our top story, which is oil today. Of course, its down 27 since it peaked in 2014. June and down over 10 since the start of october, down 1. 6 , as you can see so far today. Really, quite an astonishing move yesterday. In fact, it was up at the start of day when the saudis announced they were going to be increasing the price to the far east and then they announced they would be cutting to price to the u. S. Seeing a sharp selloff as we went through the course of the day. Even though i think theres a bit of complacency in the longterm oil price, in the shortterm, theres no sign of where the floor could be. Particularly given the next opec meeting was until the beginning of the month. Yesterday we had a guest on the show saying hes bullish on oil prices and there could away floor, yet right now its difficult to see that floor materializing. At this point in time, the saudis opec is not talking about any cuts in oil production. And you would think going into that november 27th meeting, they would sound something along those lines. But they havent. Theyve been absolutely silent, absolutely mum, and theyre doing that by cutting prices. Its essentially a game of chicken between the saudis and the u. S. Absolutely. Since the start of october, the correlation in all the Different Energy price commodities, brent down 10 , wti down 14 . To me, that suggested a little bit of panic in traders and that might suggest that in the shortterm we had a bit of an oversell. But you know what we really dont talk about . We havent talk about what this has been to the u. S. Economy. If were seeing the price of gas per gallon, this is now well below 3. This is significantly household income. I believe the number that was chucked out there was close to 50 a month. This is a significant thing to consumer spending, isnt it . And no one really talks about it. Absolutely, absolutely. Significant commodities down and i wonder what that means for equity markets. Well, this is what it means so far today for equity markets. Were in the green. Were up 0. 4 on the stoxx 600. Just been a bit of strength throughout the day. Opened about flat and were up best part of 0. 5 as i just said. The one that is up for most is the one that was down the most yesterday. Italy is up 1 . Otherwise, just slight gains across the board. Germany up 0. 5 . The ftse 100 up 0. 25 . We are looking for important data in about an hour aerps time out of europe. We have the economic price and nothing too significant ahead of those in an hours time. Lets look at bonds because we did get a decent enough move in the u. S. Tenyear treasury yesterday. Were now at 2. 33 . Yields just ticking up. Bond prices coming up. Slightly bullish data coming out of the u. S. Even though equities in the u. S. Were broadly flat. But bond prices just coming back, yields ticking up. A similar trend, were at 0. 3 in the german tenyear. Thats a little higher than we were about three weeks ago. Nonetheless, still those low yields suggesting there are fears about Global Growth out there. The tenyear in the uk, 2. 24 . Forex, weve just seen the u. S. Dollar come off against a couple of currencies today. Against the aussie dollar, 0. 5 of gains. The euro dollar, 1. 2505. That was touch ago twoyear low. Yesterday just bouncing back. Also bouncing back today is the yen, bounced back 0. 35 . Yesterday the yen did touch a sevenyear low against the u. S. Dollar. Unsurprisingly, it bounced back. What wasnt trading yesterday was the nikkei which today has hit a sevenyear high. 2. 7 of gains. That follows friday, which had almost 4 of gains following the bank of japans decision to ease unsurprisingly, given huge impetus to the nikkei friday and yesterday. Will that put more pressure than normal on mario draghi to announce similarly surprising easing measures from the ecb later this week . U. S. Tech companies have become, quote, the command and control network of choice for terrorists. Robert hannigan says some social media firms are, quote, in denial about how their services are being misused. Many of these companies are gathering in dublin at the webb summit and seema mody joins us from there. This is a very strong comment from the head of that organization. What is the reaction in dublin, seema . Absolutely, carolin. This comes at a time when several entrepreneurs as well as tech titans from around the world are here in dublin to discuss and brainstorm ways to use technology to make our lives more efficient. We talked about social media, a powerful way for individuals to interact with one another and basically consume information. What type of regulatory force is needed when Good Technology is being used by individuals who have bad intentions . Is it the role of government or the role of Tech Companies that are creating and building these platforms for consumers to use from the two social media startups i spoke to this morning, they said the onus is really on the Tech Companies to take charge of their data as well as their platform to ensure that theyre constantly monitoring the data that their consumers are building on their websites as well as making sure their platforms are being used for good intentions, not bad. Back over to you. Seema, thank you so much for that. Stay tuned from our ongoing coverage in dublin. Up next, well speak with john sculley, followed by jay bregman. Then at 11 45 we speak to john sculley. Later on in the day, cnbc will be speaking to eva langoria, enda kenny and abigail disney. And staying on the tech theme, apple is preparing a new bond sale for the first nondebt ever issued. Theyre working on a twopart euro dominated deal to raise a total of 1. 2 million. Deutsche bank and Goldman Sachs have been hired to handle the transaction. We have had some news out on the wire in the last hour or so suggesting the eightyear bond could be priced at roughly 1. 2 and 1. 8 . We might see global profits doing much more of this, issuing debt in other places where, you know, Interest Rates are much lower. It certainly makes sense for apple. Does it make sense for the investors to come in and buy the paper at this point . Because remember, back in 2013, we saw that massive dollar bond offering from apple. The timing was impeccable, it really was, because we saw a bond selloff and some investors lost a lot of money on that purchase. Will it be the same sort of timing this time around . Do you really want to invest in that . Because it seems as though apple seems to have a good neck in terms of timing. They do, indeed. And it seems at the moment structurally the dollar is strengthening. I suppose they are protected because they have significant revenue necessary europe to offset any costs they have. But, of course, currencies have move very quickly when they issue bonds in different countries. And lets change tack. A series of polls show the republicans taking control of the u. S. Senate in one of the most contentious and expensive Midterm Elections. Nbcs chuck todd reports. Thats what we want to change. As candidates around the country rush to make their final push, control of the senate hax in the balance. Voters are conflicted. If i say washington, what do you say right now . Fighting and poor performance. Just a plain mess, an absolute mess. That feeling is why eight of the most Competitive Senate races are within four points and a whooping half of the nations 36 governors races are too close to call. And voters tell us they arent happy with the campaign. Both parties catering to their base rather than focusing on the two issues that they say matter most. In our latest nbc news wall street journal poll, washington gridlock and the economy are tied as the most important issues for voters. I would like to see both sides working together. Theres a lot of division between the two. Youve got to step across the aisle and Work Together on things. Its the president that is taking the brunt of voter anger. His Approval Rating in our latest poll, only 42 . This is what happens when you do not lead. If youre not going to be a genuine leader, whether youre right or whether youre wrong. Republicans are using the president as a political pinata in just about every competitive state. Despite president obamas lows, republicans havent put this election away just yet. A late surge of democratic enthusiasm has turned this election into a surprisingly close contact. Gridlock is something that both parties own. The Republican Party in particular and thats hurt the republican brand and its made these races closer. Still, republicans are poised to have a good night tomorrow. The question is if its enough to take the senate. So we talked about it at length yesterday, the huge Coast Associated with it. 4 billion. Wow. And then it might be a tie, it might be a 50 vote been it might be a very slim victory for the republicans. So on those two fronts, it may just be a tight race. Does it makes sense to invest into stocks based on the Historical Performance of markets on the back of that . And apparently it does. Ive got some Interesting Data from here from credit suisse. They found out in the Midterm Election year the s p has seen after average of 7. 4 in the 100 days after a general election day or returning at least 17. 8 in the subsequent counting. It might be coincidence. Im not sure. The thing i find interesting about this is how polarized the politics are in the u. S. That makes this vote and the upcoming votes we have across key markets fascinating over the next six months or so. All right. Now, president obama met with fed chair janet yellen at the white house on monday. They discussed the outlook for the u. S. And global economies, as well as implementing wall street reforms. This is the president s first facetoface meeting with yellen since she took over the fed in february. President obama leads to asia this weekend where hell attend the latest g20 summit. And still to come on the show, alibaba is due to report earnings for the First Time Since going public. Can the ecommerce xwient keep its magic touch with investors . Connegligental profits hit reserve as the auto partsmaker takes a wipe down. We speak to the cfo first on cnbc. Thats coming up in the next hour. And the race is on as u. S. Polling stations open. We ask whether republicans will take control of the senate. Well cross to washington for the whole story. Synchrony Financial Partners with over two hundred thousand businesses, from fashion retailers to healthcare providers, from jewelers to Sporting Good stores, to help their customers get what they want and need. Banking. Loyalty. Analytics. Synchrony financial. Engage with us. Bmw profits slipped slightly in the Third Quarter. But the company affirmed its outlook for the full year, forecasting a significant increase in sales and earnings. Nonetheless, shares off 1 . Continental is up 2 . It says it can still beat its full year target despite a drop nernings. Well get the full story when we speak to the cfo of continental at 11 15 cet. So stay tuned for that. Now, hugo boss off significantly, down 6 , after the german Fashion Group cut its sales and profit outlook for 2014, citing weakness in its home european market. Loreal down 2 , shares suffering after posting its slowest sales growth since 2009. Now, stephane pedrazzi joins us from paris with the full story. Good morning, stephane. Good morning. Lets have a look first at the region. Loreal preferred weaker than expected sales in europe and also in north america, mainly because of the poor Consumer Confidence in europe but also because of the weather conditions last summer which had a negative impact on its sales. That is the case for the french markets. Nine of product which is by far the main one. Whether there was a weak performance on the quarter with a negative growth, down 0. 4 . Luxury segment was up 5 in the quarter, but thats much weaker than the performance in the second quarter. Loreal believed the demand for the market will pick up in fact last quarter of the year, which is going to be the strongest one for 2014. Its usually a Strong Quarter every year. But lori el believes the brand and the company will bounce back. The ceo says the trading conditions have improved since the end of september in europe and also in the United States. All in all, he believes loreal will absolutely outperformance the Global Cosmetic Market this year, which will expend between 3 and 3. 5 . Loreal is looking for acquisition development, would boston its like for like growth. The announcement was made yesterday after the market closed. T the. Gloen glencore has announced an 8 on its outlook. The mining giant said its trading arm prvrms within forecasts. Glencore up by 1. 25 . Lets get more discussion of those numbers with paul gates, Senior Analyst for metals and mining. Good morning to you, paul. I think one of the inches is around thermal core reduction. Just what the supply kind of profile should be from these Mining Companies into a weak commodity price environment. Glencore has been critical of some of its peers. I think there will be some perhaps looking at the coal numbers here. Yes, and of very Strong Production growth, but questioning whether or not they should be looking to reign in some of that growth, given where the thermal coal price is. I also think perhaps the ramp up of their flagship come pro project an asset they inherited as part of the xstrata position, perhaps the growth has not been quite as rapid as some would have hoped, particularly given the comments that weve had from the grooul group over the last few months. And you say copper is also up about 8 largely because of operations in africa. Is that significant or is that as expected. . Look, i think its hugely significant if you go underneath those numbers and look at the strategy of whats happening in the Copper Market and glencores position in it. And for me, that is one of the key aspects of the story. But also if you look at peru, the peruvian production is also up. These are the new frontier locations that are going to have to offset some of the declines that weve seen in, say, chile, as the mining conditions get harder there. And its to glencores credit, i think, that theyve taken that risk firmly and theyve shown they can deliver Production Growth from regions that other Mining Companies would find too challenged to operate in. Ive got a copy of your recent notes here. Were looking at glencore q3 production. Were looking at numbers on copper production, zinc production, this is now a globing mining conglomerate. Its not a Trading Company any more. No. Look, this comes from the mining business, from the hard commodities. The trading business, thats a third of the companys combined value. But really this is an industrial business focused on all three key base metals, copper, nickel, zic, and with a significant presence in coal, as well. Its also the lack of iron ore that differentiates this from the likes of rio tinto, bhp billiton, so on and so forth. You stul got an outperform rating on glencore. What if glencore never gets its hand on ire assets . What if that doesnt go through, can you maintain that rating . Look, i think the fundamentals for this commodity are very strong. Its just if you look at the relative performance of the commodities, that glencore is exposed to versus the commodity thats rio tinto is exposed to, theres a gap there. More people think there will be a greater recovery in the base metals than the opening of iron. That said, iron ore is a fabulously lucrative business to be in and it is generating huge cash flows for the likes of billiton and rio tinto. So when you combine the portfolio, theyve picked up as part of that acquisition and theyre going to continue, im sure, looking at ways they can get into the market. Do you think there will be success to get hands on rio tinto . Look, i think that depends, really. I think the fate of this is in rio tintos hands. If we get the recovery people are expecting in iron ore, that takes a lot of arguments away. If, on the other hand, the Iron Ore Price continues to stay in the doldrums or loses more ground, youll have a number of people, im sure, looking to a different strategy as a means of trying to create some strength back into that commodity market. And that mays, of course, squarely into ivans hands. Thank you very much. Lets stay with earnings. Santander has posted a 32 rise in profits. That is thanks to a drop in eurozone. Net profit at its uk unit increased 3 on the quarter and the stock is up by 1. 2 . Jpmorgan says the Justice Department is conducted a probe on its stock trading activities. Jpmorgan says its kwording with authorities. The company is raising the top end of its estimates for legal reserves to 5. 9 billion. Jpmorgan trading flat in frankfurt trade. Former ubs executive has been acquitted by a florida jury in a tax cheating trial. He was accused of conspireing with wealthy americans to hide 20 billion in offshore accounts. The jury took about an hour to reach a verdict after a throwweek trial ended abruptly on monday when wells attorney decided not to call any witnesses. Now, nunkin doughnuts are rolling out a few doughnuts to help increase the roll on your waist line. We would like to know what holiday foods would you lik