confuse what we have to do every so often in america which is save capital i feel from itself and i think what senator sanders is saying certainly makes sense in the terms of the inequality that we have but we are not denmark. i love denmark. we're the united states of america and it's our job to reign in the excesses of capitalism so that it doesn't run a muck and doesn't cause the kind of inequities that we're seeing in our economic system but we would be making a grave mistake to turn our backs on what built the greatest middle class in the history of the world. >> just one of many interactions last night on stage in las vegas and yeah the clash on many things i think there was moments where the rest of the field tried to attack hillary clinton but it was very obvious who was the front runner in this. >> you still think it was hillary? >> definitely. >> a lot of people think it was bernie sanders.
quote, constructive debate saying it will not alter it's own air operations or cooperate with the kremlin given russian support. in moscow they asked vladimir putin about the international perception of the stance. >> thank you for the questions. mr. president, over the weekend u.s. president obama called into question your leadership over syria. said that it's rather than going after isis. also said you're running down the economy here. how do you respond to president obama's comments and what would you say to international investor who is are dissuaded from putting money into the russian economy because of such remarks? thank you.
rate is 1 million barrels a day but the supply growth that i previously mentioned is well in excess of that. this additional increase is not produced by russia but by other countries. we aim at maintaining our rate and our share and remaining competitive in tough conditions. it all depends on competitions and the economics of projects. the u.s. has expensive projects and given the low prices now no investments will go into their field and other countries have costly extractions as well. it's a normal market situation. the biggest companies will survive. increase their labor product activity. increase their effectiveness. these are the defining factors that influence policy in this environment and competition. >> let me finish by asking you, what is your working assumption for the headline oil price over the next 12 to 18 months.
billion roubles it could mean production will be effected in 2016, 2017 and potentially 100,000 barrels a day will come off russian output. that is not a huge number in terms of russia's total output. but it is worth taking note of and those taxes of course not widely welcomed by the energy sector here. susan, back to you. >> jeff, thank you so much. we're going to take a break here on worldwide exchange. coming up on the program, we take you beyond the studio gates when wilfred frost tries to get some of that james bond swagger. bond, james bond. who came out on top? hillary clinton and bernie sanders go head to head in their first televised debate. plus julia goes mattress testing in ikea but will she sneak in a snooze?
welcome back to worldwide exchange. we're a little bit more than one hour away from the trading session this morning. the stoxx europe 600 were off the session lows but we're lower off by .5%.
peru george osborne addressed concern that sentiment is rising in the euro zone. >> the european union is going to be a source of prosperity. they would judge that by what's going on in europe at the moment. if you think about why did certain countries join the eu, france, germany were ending century old and spain and portugal were escaping tyranny. we actually wanted to modernize our economy and be part of the trade area. so the economic benefits have always been pair mount and they are clearly becoming benefits.
of a brexit was low. we only had 12.8% voting for the u.k. independence party and 37% for the conservative party. of which of half was skeptics. that left a huge majority pro wrur penne. the latest poll actually put the exit vote ahead of the first time in over a year. 40% wanting to lose, 38% wanting to stay. sentiment shifted over the summer. i think it's now largely too close to call. what are the reasons for that change? there's two main ones over the summ summer. the refugee crisis and immigration issue although ki don't think that's the one on voters minds. it highlights one crucial issue. the way greece was treated would be suppressed that germany wasn't being understanding of the issues facing the greek economy.
go vegetarian or do go both?
>> it's our job to reign in the excesses of capitalism so that it doesn't run a muck. >> it doesn't mean anything if all of the income and wealth are going to the top 1%. >> translator: one has to get used to it, learn to live with it and to work taking these conditions into account. >> and we get the keys to the ikea house as the ceo tells us how europe can get it's swagger back. >> the picture that we have is that europe is back and maybe conception is lagging behind and the reality is we're seeing quite good times here.
look for some tangible evidence of, for example, pick ups in wages or inflation that allow us to make informed decisions. >> would you put yourself in the camp of one expecting a rate hike this year? >> i do want to orient toward how we're thinking about the economy. i will say that based on what i just said and based also on what one might call a risk management approach of being concerned that a premature rise might be harder to deal with than waiting a little bit longer, right now, my expectation is given where i think the economy would go. i wouldn't expect it would be appropriate to raise rates. but i want to hasten to add that is an outlook that is based on developments in the economy and our being forward looking about it. i do think there's been too much focus on a particular meeting and a particular date and not enough on the overall conditions of the economy.
but that's going to be it for me and here is madam meatballs signing back and handing it over to you. that could take me awhile to live down. >> we did get the sneak peak of you eating meatballs before. but i'm a big fan of the hot dogs at the check out. who has time to sit down at an ikea and have the meatballs. got to do the shopping. all you have time for is a little bit of a hot dog. that's it. >> well, do you know what, that's a great point actually because by the time you made your way around the store, if you haven't been lost at least three or four times then you're really lucky and probably cutting down on your meatball consuming time. i didn't try the hot dog carolyn but there's always time. >> there's always time. thank you so much for your very important effort there at the ikea stores. >> i like the soft serve ice cream but, you know, if julia is still there my question to you julia -- no, she's gone. well, i don't blame her.
she's cold. she's in an ikea parking lot. i don't blame her for wanting to get out of there. >> she wants to try the hot dogs. >> you think so? >> i wanted to ask her about the flat pack, the way they actually deliver the flat pack packaging and getting you to install the furniture itself. there's so many parts and knobs. >> that's the fun of it. >> i don't know. it's a chore. i think they should work on that. advocate for me. still to come on the program, university of wisconsin could be taking a hefty $860 million bite out of apple. stay tuned to find out why.
for our customers very quickly and in very low volumes very cost effectively. >> i was reading some of your comments and the one that struck me the most is the quote from you that data is the new oil. what does that mean? >> we collect data from our front end. we're entirely web based. so we collect a tremendous amount of data about how our customers are interfacing with us throughout the web as well as data which allows us to continually refine and improve our software and become more efficient on producing low volume custom parts. >> using data to drive efficiency of both our marketing and our customer acquisition as well as our manufacturing process. >> yeah because when you think of oil it is different. so i was thinking how is that comparison. >> finally 3-d printing, you brought one of the businesses here in the u.k. to what extent is that a big threat for you and is it because you can't beat them, you want to join them?
>> it's all about the development process. our customers, over 75% of our customers had been using 3-d printing in the concept phase now we're capturing that by starting with concept all the way through to development and low volume production. >> all right. thank you for your time. appreciate it. the ceo of proto labs. and when you think of u.k. swagger, one location undoubtedly comes to mind, the area's home to the iconic pinewood british film studios where specter was filmed and one man that can't wait to see it is wilfred frost. he's at westminster. >> absolutely. that movie comes out next week and i for one certainly cannot wait. now as you rightly said, of course this week we have been exploring where europe has or hasn't gotting swagger and the film industry is certainly a sector that has swagger and i was lucky enough to go to pinewood studios last week to explore the current state of the u.k. film industry.
casino royale in 2006 and exodus. he is unno illusions. even with tax incentives the market is more competitive. that's forcing them to look beyond european shores. >> we have facilities in five different territories around the world. we're very focused on supporting our customers in north america but looking at the new markets so we have a studio in malaysia. we're looking closely at the chinese market. >> as for the success of the company's u.k. business, he's not too concerned. >> clearly we have to find our competitive corner. domestic film industries in those territories have looked at the u.k. model. they aspire to achieve the kind of work that we're doing and that's part of the reason why pinewood is spreading it's wings internationally.
genitalia but we're doing the same thing, aren't we? she is going to make more than chris pratt in the up coming movie but she says her learning lesson in this is she should not be afraid as a woman to be asking for more and advocating for more because men are not afraid of being labeled as spoiled brats and they're willing to fight for every dollar and that's something that she thinks that women should do more of. >> she's not the first one to make that point though. that's a very important note too. meryl streep has been talking about this for a long, long time and there's been many oscar speeches about it but certainly very important message. >> you go, jennifer. i like you. still to come on the program, earnings season begins with jpm's miss. we'll get you more after this.
hi, everyone. good wednesday morning. welcome to worldwide exchange. i'm susan li. >> these are your headlines from around the world. >> a bad earnings omen. jp morgan kicks off the financial reporting season with a revenue and profit miss sending shares down in frankfurt trade. >> intel shares sharply lower despite an eps beat in the third quarter. >> democratic presidential candidates clash in their first primary debate but front runners hillary clinton and bernie sanders agree the economic playing field needs to be led.