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quest means business

by:J&D WATER     2019-08-13
The main page of the return transcript represents the Commercial Bank of America. S.
The court refused to speed up the trial of the ISIS bride case;
Tesla prepares for the unveiling of the Y model;
SpaceX made history in the first commercial docking of the International Space Station;
Application of 3D printing in traditional manufacturing industry
Theresa May has launched a $2 billion fundBrexit Towns; U. K.
The EU\'s exit from Europe will lead to more customs regulation;
After good news of trade, the Dow Jones index plunged. Aired 3-
Month p ETAired March 4, 2019-
15: 00 ETTHIS is a report card in a hurry.
This copy may not be in final form and may be updated.
Host richard quest Means Business: The last hour of our deal on Wall Street.
The Dow began to rise before 11: 00, the lowest point a day after lunch, and now it is trying to bounce back some losses.
But if you look at the main three indices, how bad the situation is, you can\'t get away.
The Dow Jones index fell 1%.
There are few S & P.
Slightly less or more Nasdaq.
It is trying to maintain its position.
Put them together, which is why the market is moving forward.
A trade war that costs you.
We will hear from the economist, who knows exactly or how much he knows.
Huawei\'s chief financial officer is suing Canada and is expected to file more lawsuits.
Elon Musk is looking for a new SUV to drive growth.
We haven\'t seen the car yet. we just heard the promise.
We live from London on Monday, March 4.
I\'m Richard Quest.
I mean business. Good evening.
Optimism in Asia is high tonight, sending Wall Street into extreme pessimism.
What happened between the Pacific Ocean, the Atlantic Ocean and the United StatesS. ?
It was a mysterious market when we entered the last hour.
The Dow rose 130 points in transactions between the United States and the United States. S.
Trade with China.
Then fell 414 points.
It was the worst day since January, with all industries falling, and Russell 2000, the broadest market barometer, was once classified as a correction.
Nancy Davis, chief investment officer at Quadratic Capital, is with me now.
Okay, Nancy, we\'re going to do bigger things in a second.
First of all, what happened at around 11: 30 today to make the market bad?
Nancy Davis, chief investment officer, quadratic capital: Yes.
As a result, the market has experienced great fluctuations, and fluctuations are effective in both downside and upside.
In 2019, we had one of the best starts in the history of the market.
Therefore, I think it is normal for this kind of volatility to occur, and it is what investors should expect.
Task: But the onset of volatility, whether rational or otherwise, is determined by some kind of event.
Market sentiment seems to have generally deteriorated. Why?
Davis: So I\'m not going to say that the market sentiment is getting worse.
In my opinion, the market is very pleasant.
We have started a very big shift from central banks around the world, starting in the medium term
From the Federal Reserve in December, the mood has been very positive.
I mean, we have a lot-
Think about where we were in December and where we are now.
So I want to say that the market sell-off today is just a small temporary signal, otherwise we have seen very positive emotions all year round.
QUEST: Right.
So if we take today as a temporary opportunity, do you see any fundamental shift in optimism?
What I want to say is that we have 8 weeks of earnings from the low point of December 28 to January and then to February, but what I want to ask is that in the last week or two, did you find a change in the air or a change in the view.
Davis: so the market has been going higher.
We have experienced a lot of asset price increases in the global stock and credit and bond markets, so I think investors should be prepared for more volatility and selling, and really seek to diversify the portfolio in other asset classes and in other ways that generate returns.
QUEST: OK, tell me which one it is, because of the bond yield game, the interest rate reached 3%, 3 at the end of last year.
2%. it\'s still around 2.
But not so optimistic.
The stock market is under pressure, at least temporarily.
So your--
What other assets?
Davis: So at Quadratic, we really like to use volatility as an asset class to help investors diversify their portfolios.
Many investors have historically used bonds to hedge their stock risk, and I think what you\'re seeing is a huge rise in bond prices, which means yields have fallen, and now, for investors, this is a diversified opportunity to stay away from bond holdings, as well as other asset categories such as volatility that can help diversify their portfolios.
Mission: So are you talking about returning from bonds to stocks? [15:05:02]
Davis: No, I mean bonds are actually going into volatility as an asset class.
Therefore, as an asset class, there are many different ways to have volatility, mainly expressed by having optional properties.
Tasks: Options in the mix.
Thank you very much for joining us.
Nice to meet you. Thank you.
Davis: Nice to meet you.
Exploration: Thank you very much.
Optimism about the United StatesS. -
China\'s trade agreement is pending, which is good news for consumers, just like you and I, we are the ones who pay for the trade war.
Now, economists have calculated how much. The U. S.
Real income fell by $1.
A new report says 4 billion per month, not all, due to tariffs.
One of the authors, David Weinstein, is with me now.
David Weinstein, where did the cost come from? That $1.
4 billion, where--
How does it pay?
David Weinstein, professor at Columbia University: Well, you can see this cost as a loss to consumers, the easiest way to understand why tariffs cause these welfare losses to consumers is to think about a simple example.
Imagine that we imported a product from China for $100. 00 the U. S.
A 25% tariff is imposed on the commodity.
The price of the item will rise to $125.
00, this will represent the transfer of $25.
00 in the form of tax from consumers to the government. However --
Mission: Obviously, okay, hold on.
Not obvious--
I understand that, but I mean, it\'s clear that in many cases the company has eaten up the profits.
They decided not to pass on most of the tariffs.
Weinstein: Yes.
Therefore, what we see is that foreign exporters do not reduce prices because of tariffs, so consumers bear the full cost of tariffs.
QUEST: Right.
Donald Trump, listen to the president\'s views on the tariff issue and how the government can make money from it. (
Start Video Editing)
US President Donald Trump: it will be a lot of money to enter the treasury of the United States of America.
A lot of money came in. (END VIDEO CLIP)
Search: Now, he also says millions, billions, billions.
So he\'s right in that, but what is your argument?
Consumers have it better than the government?
Weinstein: Yes.
This is, of course, an integral part.
Consumers are spending an extra $3 billion. -
Prices rose due to tariffs.
Now the government is getting $3 billion, but that could be better spent on consumers.
QUEST: When will these tariffs cause undue harm to the economy?
At the moment, they are manageable, but unpleasant.
They are a little unpleasant.
But when do you think they will become seriously harmful?
Weinstein: Obviously, if the trade war expands, if we cover more goods, or if we consider ---
Or if China not only starts to retaliate against our exports, but also against our multinationals, then we will see some very serious costs.
The second component, related to what you said before, because we just don\'t know what trade policy will look like, so the degree of uncertainty in the economy is rising to levels that we didn\'t see before.
At present, we do not know whether the tariff on China will remain at 10% or rise to 25%. Or will we reach an agreement to drop them to zero?
This makes it difficult for companies to make investment decisions.
QUEST: Right.
A former US Trade Representative said to me that the real problem with these tariffs is not just the speed at which they are being levied, but they added that they are easier to collect than taking off. Do you agree?
Weinstein: Sure.
One of the big problems we face is that even if an agreement is reached with China, will the tariffs be canceled?
We have seen the protection of steel and aluminum decades ago, and we have found that when we impose these tariffs, it becomes the right of these industries, it is very difficult to get rid of this right.
Detective: Sir, we appreciate you coming in. I\'m sorry I didn\'t come to New York to be with you. But thank you.
Thank you for joining us.
Weinstein: Thank you.
Tonight, the leader of the world is Juan guaydo.
He urged his compatriots to liberate Venezuela.
Self of Venezuela
The declared interim leader has returned to the capital Caracas, where he is in danger of being arrested. [15:10:01]
QUEST: Despite the travel ban, he traveled to other Latin American countries to seek support and called for the resignation of President Nicolas Maduro, who is in trouble.
Now he says he\'s not afraid of anyone. (
Start Video Editing)
Self of Venezuela-Juan guaydo
Declared Interim President (
By translation)
Is there a little fear? No.
We are all threatened, all the people who are here, you all see, kill us, I said, it is not persecution, we will not be prevented by the threat.
We are more united and stronger here than ever before.
Stronger than ever before. (END VIDEO CLIP)
Mission: The head of the United States. N.
Everyone in Venezuela is required to ease tensions.
Now live in Caracas with CNN\'s Patrick Oppmann.
The mood is obviously pleasant.
But give me an idea, how much risk will it take to come back?
Patrick oppmann, cnn correspondent: Well, he gambled everything today, Richard, he won, and it was really a surprise because he might be arrested.
He could have been jailed for a long time and taken away from the scene, and he himself said in a live broadcast on social media last night that if that did happen, he will leave instructions to his supporters.
He knows that it is possible for Nicolas Maduro to arrest him at the airport, which is the risk he faces.
It was a bold move to take a commercial flight from Panama and land at the airport.
He dared the government to arrest him, but they held back.
At the moment, we must add that the government can pick him up at any time.
It is a common practice that they seize and release members of the opposition just to show their strength.
As a result, his disappearance in prison was not unheard of, but Juan guaydo ignored the government here for the time being.
He went on, he was himself.
Interim President of Venezuela.
He has just had a foreign visit in the region, where he has been treated as president by other heads of state and heads of state, and he is back in Caracas tonight.
Patrick, what will he do next? He\'s back.
He was cheered by the crowded crowd.
The president can afford it to a certain extent, maybe just let the game end and let the air and oxygen out of the balloon.
What does he do?
OPPMANN: Well, Juan guaydo must continue to win the support of people who had not received their support from former opposition members.
We\'re talking about ex. Chavistas.
You know, I \'ve been back here for years, Richard.
How many people have I talked to in this seriously divided country, they say they used to vote for Chavez, they support Maduro, now they go to the supermarket, there is nothing to buy, there\'s nothing to buy, and they\'re thinking about changing their loyalty, so it\'s something new.
More importantly, as Juan guaydo himself said today, he must win the support of the military.
They are the kings of this country.
If the senior generals who have been treated so generously by Chavez and his successor Maduro over the years have decided that they are enough to serve the national interest and they need to force elections, that is what will happen.
Mission: Patrick Oppmann, at least not in Havana, of course, he is usually in Havana, now in Venezuela, in Caracas.
Thank you, Patrick.
Nevertheless, the people who created Ted Baker were disapproving of the harassment allegations.
Why the MeToo movement looks stronger than ever. (
Business break)[15:15:00]
Task: Ted Baker\'s chief executive left.
He was Ray Kelvin and resigned a while ago.
He was accused of forcibly hugging the British fashion retailer.
Kelvin has been on voluntary leave since December.
Now, Ted Baker\'s former supervisor is no longer alone.
Here are some other key executives who have resigned or have been fired for my type of charge, including some very good charges --
Well-known figures like Harvey Weinstein, of course;
John lassett, who had to leave Disney Pixar for misconduct last year.
Continue, les Moonies, CBS;
Roy Price, even Russell Simmons of Def Jam Records.
Tina Brown says the MeToo campaign will not end soon.
Now Tina is a former editor of The New Yorker, and of course the founder of The Daily Beast.
\"She is now the CEO of the world\'s live media and women.
She is asking if women can save the world.
She has been talking to women who have the ability to do so.
Now, she spoke to me live in New York.
Nice to meet you, Tina, as always.
Tina Brown, founder of Tina Brown\'s live media: Richard, it\'s also a pleasure to meet you.
I apologize again, Brexit took me to London or I will be with you.
Brown: Richard, I usually only see you in Davos, so I think if it\'s snowing, it\'s Richard quays.
Explore: Tina, let\'s talk about this, so in forced hugs or forced hugs at Ted Baker, I think people may have a wry smile, I mean, those of us who grew up in an era would say, \"Well, what\'s the problem with that?
But you will. -
I might say the times have changed.
Brown: they must have changed, and it\'s clear that Ted Baker didn\'t get the memo because we saw that a major career was over and the main ceo fell like a statue of Saddam Hussein,
The truth is, what is a forced hug anyway?
Are you chasing someone around the office and letting them give in?
I mean, what is a forced hug?
I\'m not sure.
But the fact is that everything is over, and anyone who thinks the MeToo movement is a bias, and that\'s going to pass, and I think now people have come to realize that this is the next civil rights movement.
This is a volcanic earthquake conversion.
It\'s important, you know, that people understand this now.
Mission: Yes, but, for example, someone like Baron Karen Brady, you may have seen it recently and eventually resigned from Sir Philip Green ---
As chairman of Sir Philip Green\'s fashion store or fashion organization, she initially said that she would stay because of the women and staff there.
She decided to go two weeks later.
Women won\'t. -
This is not very good for business.
Brown: The problem is, we have a very complicated series of events happening now, in a sense, women are also called experts, if they work in a business where the CEO is doing very badly, they should speak out.
It seems unfair to me, because why should we blame women in a sense for malfeasance by men at work.
It will be complicated and there will be a lot of broken eggs here, but in the end it is a chore that needs to happen.
It just needs to be done.
Mission: So, what do you think about this area when you watch 2020 games now, and the democratic potential or the diversity of candidates?
Brown: Well, we have four very good female candidates right now.
Last week I spoke to Hillary Clinton on my podcast and she said in a sense that she had--
There is no doubt about this. . . [15:20:10]BROWN: . . .
Everything thrown at her makes it all easier, especially this time more than one, with four, which is actually better because it distracts all the hatred and disgust that still exists.
This is white week, right?
I mean, let\'s make Governor John hikenroper suddenly announce-
He is a very good man.
We can find Joe right away.
There are a lot of very talented people, but my only question is, for me, the only judgment is, what will they look like on the stage of Donald Trump?
Body is also very important.
We need someone as big as him, someone who can intimidate him right away.
We need someone who will be able to come back with their agenda, which will make him a little wilted on the ship\'s head.
Many things are not necessarily related to normal political achievements.
They are actually about how they will have an impact on the great Incredible Hulk, The Orange tyrant in the corner of the moment, who will have an impact on them, and swayed behind them like he and Hillary in the debate.
Mission: You are the best person to ask this question because you are an outsider to an insider.
But if you have to look at it with your heart, do you think the United States is ready to vote for a woman to be president?
Brown: We found a place where we hated women very much.
It\'s so huge that, you know, it has to take into account so many different cultures, arenas, and areas, all of which have different feelings.
I don\'t know if it\'s ready.
I think the United States is ready to get rid of Donald Trump, and I think we will lag behind a woman if it is going to be a woman.
But it\'s really going to beat Donald Trump this time.
So I think there must be a woman problem for everyone at this moment, and I don\'t think it\'s as important this time to beat Donald Trump.
I think the United States is ready for the winning woman. I do.
Kamala Harris, I think it\'s done very well now.
Her launch was great.
But she is a strong woman.
I think she has a good chance.
I think people will be ready for Kamala.
Nice to meet you.
We will talk face to faceto-
I promise to face it again.
Thank you, Tina Brown.
Now, as China-U. S.
Tensions on the trade side have calmed down and they are heating up on the other side.
Huawei chief financial officer sued Canada for arrest in Canada.
China has accused Canada and the United States of abusing the extradition agreement. (
Start Video Editing)
Chinese Foreign Ministry spokesman Lu KANG (
By translation)
: We urge the United States againS.
The party immediately withdrew the arrest warrant and extradition request for Ms.
Meng Wan and urged the Canadian side to release Ms immediately.
Ensure that she returns to China safely and healthily and earnestly safeguard her legitimate rights and interests.
Repeated mistakes should be avoided. (END VIDEO CLIP)
Samuel was with me.
They won\'t release her as the Chinese suggested, but for the same reason, Canadians say, \"Look, it\'s a legitimate extradition order, so we have no choice.
Samuel Burke, CNN Business and Technology Correspondent: Richard, who has money in Bangladesh, God bless, has the means to try and fight in Canada.
What you have to realize is that experts in Canada have told me that there is a lot of potential to go to the Supreme Court of Canada and that the issue must be corrected before they complete extradition to the United States.
This may slow the process for many years.
When you think of two situations where you are released on bail in a very large house in Canada, or the possibility of being imprisoned in the United States, I know which one we will choose
Mission: Yes, but at the end of the day, how do you get rid of this mess?
Because even if you\'re right, at some pointS. has to --
Unless the Supreme Court says it\'s invalid--
Burke: this is a way to get out of trouble.
Task: this is a way to get out of trouble, but before that, at some point, the U. S.
We have to say, \"we will withdraw the extradition request.
\"Burke: so part of the strategy might be that they\'re trying to delay.
Let the trade war continue.
Let the trade war be resolved.
Let Huawei\'s problem be solved.
Stay in Canada for a while, and then hopefully, if that\'s all settled, remember that Donald Trump did mix the trade war with the situation of this woman, so, perhaps all of this will disappear, and keep in mind that Huawei is planning to sue the US government according to everyone\'s expectations.
There is a real expectation that next week, they will oppose the United States in court. S.
The government and their decision with Huawei, so many things can be solved first.
Mission: it will be very difficult for the United States. S.
The government either backed down on Huawei and security in the Bangladesh case.
Tell us they are--
This is the worst thing the devil has ever had in terms of technology, and they can barely turn around and say, \"Well, it\'s OK to put their devices in. \" [15:25:09]
Burke: you can say they did the same thing to ZTE, Huawei\'s brother company.
They let it down.
It was basically shut down, and because of this work, I found out at the Mobile World Congress of American companies over the past week to make sure their chips were able to get into ZTE products, donald Trump has completely reversed the situation in a few days, bringing the company back to life.
This is how the president of the United States works.
Nice to meet you, sir.
Thank you very much.
Nice to meet you.
Task: we will solve the problem before this. -
You are not qualified to operate this important technology. Not.
Oh, it\'s wood.
Elon Musk hasn\'t made the headlines yet when we get back.
Tesla\'s chief executive says a new model is coming soon. The Y.
What and Why. (
Business break)
Hello, this is Richard QUEST.
In a flash, there are more \"tasks mean business \".
When Elon Musk finished the Tesla lineup, he was making fun of the Y-type, and SpaceX made history.
A paradise for investors to expect returns.
Tonight, when you and I continue to be together, this is CNN, and on this network, the fact is always the first.
Venezuelan opposition leader Juan guaydo has returned home despite government threats to arrest him.
Thousands of people came to Caracas airport to meet the man who declared himself an interim president.
Guaydo calls for more-
Government protests this week. A U. S.
The House committee launched a comprehensive investigation into President Trump\'s administrative campaign, business, etc.
It requires documentation from 91 individuals and various entities, including Mr.
Two adult sons of Trump
The president called it a political scam.
And live in America. S. , a U. S.
A federal judge ruled against an American lawyer. S. -
The ISIS bride, who was born, wants to decide as soon as possible if she can return to the United States.
The judge said the Trump administration was trying to stop her and did not immediately prove that she was in any immediate danger and that there was no need to speed up the case.
Elon Musk launches his new Tesla through a date to get sexy back, or at least that\'s how it looks.
So far, your model has \"S\", 3 backwards, X, soon Y.
This is the only photo we have so far.
Musk said Y will be about 10% more than 3, and the cost will increase by about 10%.
He will show the car in Los Angeles next Thursday.
Paul La Monica is with me now.
Now, I need a little. -
Paul, I need a little tuition because the car he said ---
Now, is this the same? -
He said it would be 10% bigger than 3.
Is this the same as the 35,000 he told us is almost impossible to do?
Paul la monica, cnn business correspondent: This is a good question.
Apparently, he has talked about how it is difficult for Tesla to continue to produce the Model 3 for $35,000.
But you know, we now know that they are unfortunately going to cut jobs in order for model 3 to go public.
They will only make online orders for these cars.
So Tesla has made a lot of changes in order to make model 3 a viable product for the company, if you want.
Now that the Y-type, if you say it\'s 10% higher than the model 3, I think it will start at about $37,500 or $38,500.
So we\'ll see if Tesla will take a long time to produce Y at this price or if they will start selling custom feature Y at a higher price.
Why are they doing Y?
La monica: Oh, I think Tesla realized that they need to have more cars in production if it\'s going to be a mass market car company.
They obviously did a great job in the luxury of S and X crossover cars.
But just like model 3 is a quote, not a quote, \"affordable sedan\", now you have a more affordable SUV.
I think Tesla has the desire to be a major car company for GM, Volkswagen, Toyota and many other global giants.
Mission: How much have they eaten for lunch?
I\'m sorry?
Mission: How much of their lunch has been eaten by GM-
La monica: Yes--
What about Ford and Chrysler?
No, this is a good question.
Clearly, there is concern that Tesla may be too late in cheap electric vehicles.
Because you have GM and Bolt, you have Volt and you have Nissan and leaf as well.
There are a lot of companies that are making cheaper electric cars, including in China, there is a company called Neo, it is very hot now, it is very good to do so, it may take a share of Tesla\'s market share in China.
We talked about the company a few months ago in an initial public offering on the New York Stock Exchange.
Nice to meet you, Paul. -
Thank you. -Monica. -
Thank you, Paul Monica.
As we continue, Tesla\'s Y-car seems to be low-tech compared to Elon Musk\'s next trick.
His rocket company docked a ship at the International Space Station.
This is a milestone in the private space race and investors are watching closely. [15:35:00](
Business break)
Discovery: when SpaceX completes the most important task to date, it is a sight 400 kilometers from the surface of the Earth.
The first commercial spacecraft docked at the international space station that could be manned into space.
This is a milestone for an industry that is undergoing tremendous change.
If you only look at the Florida coastline, all the coastline has become clear for half a century, only NASA is here, Cape Canaveral or Cape Kennedy becomes Cape Canaveral, only NASA
From victory like the moon
The landing and the first space station were launched by the United States. S.
From there the government.
Now NASA stopped flying in 2011 and the private space race is over.
Of course, you have SpaceX from Elon Musk, you have the Blue Origins of Jeff Bezos and some other beginnings --
Ups has claimed property and take-off rights from Florida.
For example, Anne McLean, an astronaut living on the International Space Station, posted photos of the ship as it approached on Twitter.
This is the dawn of a new era of human space flight, she said.
Now Chad Anderson is the CEO of the Space Angel who invested in these space launches.
Ups join me now.
How many of these space activities or space businesses are really making money?
Chad Anderson, executive president of Space Angel: this is a good question.
So we \'ve been following since the first successful commercial launch of SpaceX in 2009, and they have significantly reduced prices.
They announced their prices and brought some transparency to the market.
We were really happy when we saw the barriers to entry collapse.
Only a few dozen people before 2009
A global-funded aerospace company.
Today, we see this number grow to 400.
Plus and $18 billion invested in these companies during this period.
So we are still relatively new, the threshold of entry has dropped before long, and the balance of power must have changed.
We saw a lot of new companies at the scene.
They\'re just starting to generate revenue now, but they\'re already starting --up phase. So --
Detective: Okay--
Anderson: seed and Series A are the themes of the film.
Task: So ,--
But where is the money? Is it in --
I mean, for companies that offer widgets and widgets, let\'s face it. anyway, they make money and make money, because there are enough people who want these things, or are the end users Virgin Galactic, SpaceX or blue?
Anderson: So I think everyone can play a role and there\'s a lot of money to make in this space economy.
Our alliance space is immeasurable.
We\'re just starting to measure it now, but it makes global space-
The space economy makes it possible for the global market we see today.
GPS makes it possible for our financial markets through precise timing and for our global transport channels.
Therefore, space plays a fundamental role, at least the fundamental shift in our focus and hope for investment.
This is the first private investment. -
QUEST: Right --
Anderson: that makes it even more possible to get into space.
We saw a lot of new companies, including satellite companies, on the scene.
We\'re investing--
Task: how about it?
Anderson: So is the whole value chain. [15:40:00]
Exploration: What about space tourism?
As I can see, the kind of thing you\'re investing in is actually a commercial aspect of space.
Anderson: of course--
Task: Industrial-
To some extent, this is the industrial of space, or the industrial of private.
But in terms of space tourism, who do you think will be the first to send tourists into space?
Anderson: So we\'re saying that 2019 will be a year of commercial space travel, and that\'s what it turns out to be.
The launch of SpaceX is a crucial first step.
For them, the next one is the suspension test and launch of humans this summer.
Boeing followed suit, and this year they should also launch astronauts into the space station.
Two other companies, Virgin Galactic and Blue Origin, will also launch astronauts on the edge of space later this year.
They will do so somewhere around $1, and it will cost tens of millions to go to the space station.
But the key here is that we\'re going to start with a world where there\'s only one car, the Russians ---
QUEST: Right --
Anderson: The league can get you on track later this year.
Task: You know, a word, a question, an answer.
Will you go if I give you a ticket now? Are you on the road or just a rich man?
Anderson: 100%, no doubt, go to the space station, go to the moon, you name it.
QUEST: Yeah, well, neither did I--
I haven\'t got the money yet, so I have to borrow it from you and give it back to you.
Nice to meet you, sir. thank you. -
Anderson: Thank you.
Explore: charming. Three-
D. printing is widely used in the aerospace industry.
The company will also use it to solve a problem on earth.
For example, the UK is out of the EU and we will explain it later.
First of all, the technology behind Stratasys, the world\'s largest 3-
D. The printing company is 30 years old.
Now, before we meet with the CEO who will be with me, Andy Middleton, or European executive president Andy Middleton, we have to see how it works.
So we took over a large part of the newsroom. (
Start Video Editing)
Andy Middleton, executive president of stratasys emea: This machine is printing 3D files, created by design engineers anywhere in the world.
Task: meaning--
Basically, it means doing something like this.
Middleton: it\'s making something like this and making great plastic products.
Task: How long does it take to do something?
Middleton: This particular model is one of our smaller models, and we have 10 times the size of the building.
In this model, it will take about three hours if you participate in the part where you are there.
About three hours?
About three hours.
Yes, so it\'s not very fast, but at the same time, it\'s a revolution.
But what is revolution?
Middleton: The revolution is that instead of printing or making thousands of parts, we ship them to where they are needed and, in fact, we can send the data to where it is needed and print it out.
The reality is that there is a economies of scale within the traditional manufacturing industry.
So if you need thousands of these-
-Middleton. -
Mission: you will be in--
In a traditional way.
Middleton: It depends on what the cost is.
If you want to have the exact quantity and don\'t have any outdated stock after the normal manufacturing process, it\'s better to have them 3D print.
Task: How fast is this machine reprogrammed-
From making pipes to making widgets to making parts?
Middleton: on the plane, on the plane.
For the printer, printing and wireless printing this part is completely irrelevant and it has set up a data set for the next widget.
Task: Yes, but you have to put a new mold-
Middleton: Here\'s the material. -
QUEST: Right --
Middleton: On the filaments, you can change them if you need different features.
What are these?
Middleton: this is the armrest used on commercial aircraft.
QUEST: Yes, why is this way better than conventional injection molding?
Can you make it quickly and cheaply?
Middleton: of course, if you follow the tradition and if they are all the same, the cost of installing the injection molding machine is amazing.
However, if you only need 200, or if Delta, Lufthansa and Singapore Airlines need them to be slightly different, 3D printing is here.
Because it is irrelevant, it is designed on a 3D printing machine, not on the injection molding machine. (END VIDEO CLIP)
I don\'t see any ships.
This is another thing you did.
It\'s Andy Middleton with me. it\'s a pleasure to meet you, sir.
Nice to meet you, Richard--
Exploration: how long and short is it, how far are we from the revolution?
Because in this show, about five, six, seven years ago, right there, we printed some little children\'s rubber ducks or something, I mean, a plastic, very small
-Middleton. -
Task: Isn\'t that the most important thing?
Three weeks--[15:45:00]
Middleton: Yes-
Task: The project has stopped at the end.
Now, you have made these in a few hours, but how far is this resolution?
Middleton: We have started with the rubber ducks and these parts on commercial planes today.
When we spoke on a commercial aircraft, there were more than 50,000 3D printed parts flying around us.
So we have made great progress since the rubber duck.
Quest: Yes, as far as the whole revolution is concerned, as you move on, what position do you think we are in the process?
Are we just beginning to see its potential, or are we well positioned to grasp what it can do?
Middleton: we--
We have a great understanding of 3D printing prototyping, and now we have entered the manufacturing industry, especially in the aerospace, aerospace and automotive industries.
The two companies are pioneers in manufacturing.
But are you saying that this is helpful for Brexit?
Middleton: it\'s helpful for Britain to leave the EU. QUEST: How?
Middleton: very simple.
I just got back from Germany this morning and lined up to get into the country\'s entire truck before the UK leaves the EU.
Let\'s send the data and print it out where we need it, instead of shipping the goods, parts and components with trucks, ships.
That\'s true, but these machines are expensive and you need a lot.
What if needed?
Five or six hours a day. -
-Middleton. -
I need 10,000--
Middleton: Yes.
Task: then those machines-
Granted, they can go by day or night.
But what you\'re saying is that in order to run production in a reasonable amount of time, there must be dozens of such machines.
Middleton: Even dozens of such machines have saved a lot of money in logistics and physical inventory.
So what we\'re talking about is keeping your inventory figures, not physical objects, and sending these files to print and make them when and where you need them.
Task: is this inevitable for niche-
High value niche products to prove this?
Now, I know it sounds stupid when I don\'t talk about toilet plumbing or ventilation.
But it\'s a toilet pipe or ventilation for an airplane, so--
Middleton: Yes-
Actually, you know, there are five of them. -
Flame retardant, not cheap.
Middleton: It\'s not cheap, but it meets all the standards. -
QUEST: Right --
Middleton: aerospace needs.
Mission: Yes, this will eventually be--
I know this is--
Middleton: handrails.
Task: Arm--
This is another armrest.
Yes.
Task: Is there any restriction on 3D printing?
Middleton: When we talk about geometry, 3D printing is the only technology that actually prints, creates and manufactures geometry, with no restrictions compared to today\'s traditional weather.
Today people design parts based on how they make them.
Mission: And the idea of using them on a plane-
-Middleton. -
Of course, in the aircraft section, but those that need metal parts--
-Middleton. -
Task: or aluminum--
-Middleton. -
Now you have some trouble.
Middleton: I don\'t think we are.
Today, 3D printing technology is already producing aluminum, titanium and different alloys. looking forward to the future, you will also see new technology ---
Q: What can\'t it do?
Middleton: What can\'t it do? QUEST: Yes.
Middleton: it can\'t print 10,000 pieces today in an hour or five hours.
But what it can do is print the pieces where you need them instead of shipping them all over the world.
You know, I think. -
Detective: Okay--
Middleton: What is the logistics cost?
2020 10 trillionQUEST: Yes --
Middleton: Now, this is a big amount of money that consumers pay.
Mission: I would appreciate it when it can make a decent cup of tea, sir, nice to meet you, thank you very much.
Middleton: my pleasure-
Thank you very much.
Middleton: Thank you very much.
As we continue tonight, we will go to the other side of the channel.
France is preparing for the United States. K.
We need to figure out what that really means.
Coming from London tonight is business. [15:50:00](
Business break)
Quest: we are in London next week before the Brexit vote.
Theresa May has been charged with Britain\'s withdrawal from the EU as a bribe because of a $2 billion plan for people who are economically poor, mainly Britain\'s withdrawal from the EU --backing towns.
The Prime Minister said the stronger town funds would promote regions that do not get a fair share of the country\'s prosperity.
Of course, Labor, the opposition party, says it\'s a cynical thing to get the votes of MPs for her deal, and she needs to cross that line next month or this month.
Meanwhile, Jim Bitman reports that Brexit worries pet owners that no deal will affect all creatures of size. (Start Video)
Jim Bitman, CNN correspondentvoice-over)
: Yorkie\'s Oscar may not seem too worried about Brexit, but his caretaker is certainly worried about Brexit.
Paul Anderson runs a company called \"pet go\" that regularly ships thousands of pets from Europe to the UK every year before returning.
Like other animals, Oscar easily travels back and forth with a pet passport.
But after the UK leaves the EU, more paperwork may be needed before he starts over, or even a new blood test may be needed
Enter France.
Paul anderson, PETS2GO2: There doesn\'t seem to be any clear provision for what will happen to our business or shipping.
A bit messy.
BITTERMANN: according to animal control inspectors, as many as 2,000 pets cross the English Channel every day, any change in the rules means that pet owners have increased fees and headaches.
For the three dogs of Ian squrell and Derby Lansley, this could be the last trip in a while.
Pet owner Derby Lansley: Before we knew what was going on, I mean, there were people who said they needed a rabies vaccine and apparently they had it, but they said-
Pet owner ian squirrell: rabies test and blood test--
Yes, they need a blood test.
SQUIRRELL: The blood test fee in the UK is 260 pounds, which is a lot of money.
When you have three dogs.
When you have three dogs.
BITTERMANN: even if it\'s not clear in which direction the UK might go from the EU, it has already spent a lot of money.
French customs said it would spend more than $68 million to build new customs facilities and employ more than 700 customs officers and hundreds of veterinary inspectors. (on camera)
: Customs officials here say they have been planning the worst for years, meaning to return to the bad times of customs clearance, health and health checks in the past, animal screening for disease, fruit and vegetables, pesticides and weed killers. In short, re-
Establish controls that have not existed here for 25 years. (voice-over)
: Customs inspections have been carried out randomly since the European Union rules.
Sometimes I really want to be in the sea.
But French customs inspectors are expected to be more thorough after Britain leaves the EU.
The French have produced a video in the hope of explaining to people how to access the Internet before traveling and avoid delays in the transit of ferries or European tunnels.
But according to the head of customs in northern France, these new facilities include an expanded customs and parking lot for any of the 8 million trucks crossing the strait that have not completed the proper paperwork in advance
Thibaut rougelot, Customs Director, Northern France (
By translation)
: With customs procedures, there may be an increase in transportation costs.
I don\'t know how these companies will deal with this additional cost and the restrictions on the flow of goods.
BITTERMANN: for example, for goods like fresh produce, France currently imports about 55% of lamb from the UK, and according to agricultural statistics, they consume most of the lamb from the UK, most of it was after it was slaughtered. [15:55:00]
Customs delays may mean fresh lamb will have to be frozen, allowing British lamb to compete directly with countries as far away as New Zealand.
Tom Becker, the sheep farmer: it says no, I think they are ---
Things can be complicated, anything can be-
Really, no one knows what\'s going to happen.
Although some people have made decisions without waiting.
However, STC transport has stipulated to move the pure stallion back and forth in the race and breeding passages, and a recent customer canceled his horse trip.
The company believes other companies will follow suit.
Simon brosett from STC transport: At the moment, the owners are silent about the trip and they all know that the MoMA will stay ---
How will they return to study in the UK?
How will they come back from France?
BITTERMANN: so, though, or perhaps because of political disagreements on the other side of the strait, in France, some have voted with their feet to support Britain\'s exit from the EU.
CNN correspondent Jim bitelman reports from Calais, France. (END VIDEOTAPE)
Quest: the last moment of Wall Street trading.
The Dow seems to have reached a balance of about 238 points.
When we look at the rest of the week and what you and I can expect, it will be a busy week and there will be a lot of revenue on Tuesday.
We have revenue from Target, Kohl and Ross Stores.
On Wednesday, it was a decade of bull market, an anniversary worth celebrating.
On Thursday, Kroger earned some retail revenue in the H & R neighborhood.
One more thing is to pay attention to the many members of the city and the United States. S.
The employment report will end in a busy week.
It will be you and I will have a profitable moment after the break. (
Business break)
Tonight is the time to make money. the whole 3D printing revolution is wonderful.
This is one of the few things we have seen in our lives, we saw it in the beginning, we saw the promise, we saw the development of it, we have seen the improvement of it, we see the real benefits now.
This is one of the things a person has seen from the beginning, and you know roughly, it has a broad future ahead of us.
As you can see tonight, we just touched the surface of it.
I remember in this studio, we printed some rubber. -
A small plastic toy.
Now they are printing airlines. -
Parts for air seats and aviation parts.
Who knows what they will print next?
It was very interesting to watch, learn and experience 3D printing earlier.
Tonight\'s job is to do business. I\'m Richard QUEST from London.
Whatever you do in the next few hours, I hope it\'s profitable. (BELL RINGING)
Clap all the way, the day is over, the bell rings ---(CLAPPING)
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