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Men's Fashion Week; ChemChina to Buy Syngenta; Oil Price Jumps; Yahoo Boss Parties While Company Loses Money?; French Drug Maker Sanofi



Yahoo Boss Parties While Company Loses Money?; French Drug Maker Sanofi

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QUEST: We'll talk about that in just a moment. This is "Quest Means Business" on CNN.





[16:31:35] RICHARD QUEST, CNN INTERNATIONAL ANCHOR AND REPORTER HOST OF "QUEST MEANS BUSINESS" SHOW: Hello, I'm Richard Quest. There is more "Quest Means Business" in just a moment when the New York Men's Fashion Week gets underway and I'll be joined by the legendary stylist Joseph Abboud. I hope he will give me a few tips on pinstripes. And mining on asteroids is the final frontier. It's being led by Luxembourg of all places. Before we get to any of that, this is CNN and on this network the news always comes first. U.N. Special Envoy Staffan de Mistura says he's halting the Syrian peace talks for three weeks, saying there's more work to be done on both sides. Talks will resume later this month in Geneva. Meanwhile, the violence continues in Syria. The leader with the free Syrian army says government forces have broken the rebel's siege of Aleppo. Authorities in Somalia are investigating whether a midair explosion on an Airbus aircraft was terrorism. Officials believe one person died after being sucked through the hole that was blown out of the side of a plane after they took off. The pilot managed to land safely. A source says a test found residue from an explosive substance. Donald Trump has accused Senator Ted Cruz of committing fraud in the Iowa caucuses. On Twitter Mr. Trump called for a new election or the results of the caucuses to be nullified. Trump cited flyers sent out by the Cruz campaign warning recipients they would be committing a violation by not voting. The Cruz camp dismissed Trump's claims. U.S. President Barack Obama spoke out strongly against anti-Muslim rhetoric during his visit to the Islamic Society of Baltimore. It was the first visit he'd made as president to a mosque in the United States. Mr. Obama told his audience why he refuses to classify terrorist attacks as Islamic in nature.


BARACK OBAMA, U.S. PRESIDENT: Suggesting somehow that if I would simply say `these are all Islamic terrorists,' then we would actually have solved the problem by now apparently. Well I agree we actually do need moral clarity. Let's have some moral clarity -


OBAMA: Groups like - groups like ISIL are desperate for legitimacy. They try to portray themselves as religious leaders and holy warriors who speak for Islam. I refuse to give them legitimacy.


OBAMA: We must never give them that legitimacy.


QUEST: Bernie Sanders welcomed the President's remarks. The Democratic candidate is now in New Hampshire where he's hoping for an outright win in the state's primary after narrowly losing the Iowa caucuses to Hillary Clinton. Speaking to CNN earlier, Mr. Sanders criticized Republican rhetoric on Muslims and immigration.


BERNIE SANDERS, U.S. DEMOCRATIC PRESIDENTIAL CANDIDATE: I think it's very important. You know, if this country is about anything, it's about religious freedom, religious tolerance. And let me be very clear - what Donald Trump and some of these other people are doing are trying to condemn the Muslim religion, trying to say that we should not have Muslims coming into this country is totally unacceptable. Attacking Mexicans - that is not what America is about. America is about standing together as one people, not allowing ourselves to be divided up by religion or by nationality.


[16:35:09] QUEST: In just a few hours from now you can hear Bernie Sanders and Hillary Clinton as they take part CNN's presidential town hall debate moderated by Anderson Cooper. It's at 9 p.m. on the East Coast - 6 a.m. - I'm sorry, 3 a.m. -- in Central Europe. And don't worry, if you miss it, there's a replay on Thursday at midday London time, 1 p.m. Central Europe only on CNN. So we started our program this evening with the ChinaChem takeover - or the ChemChina takeover - of Syngenta for many billions of dollars. But it's not only agricultural conglomerates that are being snapped up by the Chinese. One of China's top football teams has just smashed the local transfer record for one of the best players in Spain. Athletica Madrid striker Jackson Martinez has signed with Guangzhou Evergrande for an eye-watering $45.8 million, the latest in a string of high profile acquisitions by the Chinese Super League teams in recent weeks. Patrick Snell joins us live from the CNN Center. Patrick, first of all, put this into context for us -- $45.8 million is the largest amount within the Chinese and the Asian football transfer market. How does it compare to what we would see, for example, in Europe?

PATRICK SNELL, CNN WORLD SPORT: Yes, as you said, Richard, quite rightly so - eye watering stuff. This sort of player who wasn't even a big success during his limited time in Spain, in the Spanish capital, where he only scored I think it was three goals in some 22 games. But the fact is these are huge sums of money and once again the Asian transfer record has been broken. Let's just first of all detail a couple of more recent signings coming in in addition to Jackson Martinez, a very good young player at Chelsea while Ramires, the Brazilian, going at 28 years of age. These are players still very much in their peak - Ramires going from Chelsea to Guangzhou. That was the then-previous Asian record and then the third number we came up with was the Gervinho for just shy of $20 million. He was going from A.S. Roma to Hebei China Fortune FC. And we worked out, Richard, that a staggering $150 million in new players entering in the Chinese market before the end of January - that window staying open until late February. But how does it compare to other big names from the European, the major European leagues? Well, (also hap) figure of $46 million for Martinez, just $4 million shy of the highest record ever paid by a German club that was Javi Martinez, $50 million when he went from Bill Bauer (ph) to Munich. But elsewheres, we broaden it out and we look at for example Spain - Gareth Bale the Welshman went for $132 million, going -

QUEST: Right.

SNELL: -- from top (member) of the Premier League to Real Madrid, Angel di Maia, from Real Madrid to (Mou United). And of course as far as the French League is concerned, at (Insin Cavania) $84 million. So you begin to see the figures here being talked about and the Chinese Super League living up to its name. These figures are getting closer and closer the gap between Europe's powerhouse leagues and China is definitely getting shorter, Richard.

QUEST: Right, but that is fascinating. Let's talk this in a - let's put this in a business context, Patrick. Are the Chinese basically paying top dollar for players that wouldn't command anything like this if they were being transferred within Europe? I'm not saying they're getting mutton for lamb, but I'm saying that they are paying a pricey full price.

SNELL: And you'd be right, absolutely, Richard, There's definitely - the cynics would say there's definitely a case of overpaying going on here. And as I say, I used that reference off the top. When you look a Martinez -- $46 million - that's just shy of what actually Atletico paid to Porto for him in the first place where he scored 93 goals in 122 games at Porto. He was prolific in Porto. He then moves to Atletico, and as I say, he was a huge disappointment in the Spanish capital. But why is this happening? Simply because you look at the grassroots level, the requests. The Chinese President's Xi Jinping and that 50-point plan of his that was made in 2015. That has really, really resonated. And what are we seeing now? The grassroots level, there's even talk of making soccer or football or as I prefer to call it, compulsory in schools -

QUEST: Right.

SNELL: China in turn is investing in European clubs as well, so been very smart in that score. Investing in clubs like Spanish (Coursa), Atletico Madrid, Barcelona-based Espanyol as well. And even the big one in England - Premier League, Manchester City as well. So China being very smart about this, but you're absolutely right there's a case of overpayment going on. No question about that.

[16:40:02] QUEST: And we'll thank you, sir, to leave soccer at the door with your hat and your coat. It's football on "Quest Means Business" (RINGS BELL) and that's where it remains.

SNELL: Which is what I said, (inaudible) I prefer.

QUEST: Absolutely. But you're flirting with soccer.

SNELL: I know, I know.

QUEST: We'll have none of that on this program.


QUEST: One of the frontrunners in the race to be the next FIFA president of football insists he's not just a puppet of Michel Platini. Gianni Infantino is UEFA's general secretary and he has worked under Platini at the European governing body. Now he is one of the five candidates at this month's election that will choose the successor to Sepp Blatter. CNN's Amanda Davies grilled him on his presidential ambitions.


GIANNI INFANTINO, FIFA PRESIDENTIAL CANDIDATE: (Inaudible) meet our other four other candidates. I have the greatest of respect for all these four candidates. And I don't underestimate anyone of them and I just hope that we can have a positive campaign for football all of us and I hope as well that that I will be the winner at the end of the day.

AMANDA DAVIES, CNN WORLD SPORT: There has been a suggestion though that you have been talking to Sheikh Salman and that if he was to win the presidency, you would go in in a very senior management role.

INFANTINO: Well there has been maybe a suggestion about that. I don't know who spread these false rumors. I'm already general-secretary -

DAVIES: So that's not happened?

INFANTINO: No, that's not happened, that's not going to happen. I am general-secretary already of UEFA and I'm counting for the presidency of FIFA and this has to be - this is a very important task to be candidate for presidency. So I'm going on to the end.

DAVIES: So if Sheikh Salman was elected president -


DAVIES: -- you would not want a role working under him at FIFA?

INFANTINO: No, I will not be general-secretary of FIFA, certainly not.

DAVIES: But you would do something else if he was to offer you something else?

INFANTINO: I would go fishing probably if I lose the election. I'm confident to win.

DAVIES: Does any of this actually really matter? Does it matter who wins? Will a -

INFANTINO: Big time.


INFANTINO: You need today more than ever somebody who knows exactly what to do, somebody who knows exactly where to start with all the reforms to live them, to implement them.

DAVIES: But what you say about transparency, about development of football projects around the world, about reform, we've heard all of that before.

INFANTINO: Yes, but that's why I'm saying that we need somebody who makes it, not only who speaks about it. Now, I am a doer and not a politician.

DAVIES: You didn't set out on this presidential campaign to become president? You initially threw your weight behind Michel Platini.

INFANTINO: Yes, initially.

DAVIES: Do you want the job?

INFANTINO: Definitely I want the job. Otherwise I wouldn't be sitting here or standing here.

DAVIES: I sat in a room last week with a senior football executive who said he doesn't like any of the candidates on offer in terms of the FIFA presidential election. He listed what was wrong with each candidate. For you he said you are Platini's puppet. He is the puppeteer, you are his puppet.

INFANTINO: Well, instead of being anonymous, it would be happy - I would be very happy - if you could say to me directly so I will clearly explain to him that's certainly not the case. I am Gianni Infantino. I share a lot with Michel Platini - we worked together for nine years, of course. But Mr. Platini has his own strengths and weaknesses, I have my own strengths and weaknesses and I am committed to show it to the whole world and to this person - well if he can say who he is and face me, I would be happy to explain it to him as well.


QUEST: One country is staking its claim in the new space race. Now, it's a small nation with a big plan - to dig valuable minerals out of asteroids. We'll explain which country and where after the break.


[16:45:42] QUEST: Now, what you see here behind me is a vision of what asteroid mining could look like in the future. And today one country declared its ambition to be a pioneer in this. And look - it's how it comes in, grabs it, takes it out. This is your mining asteroids. Well which country is going to do this? A small little country. It's Luxembourg with a population of 500,000. Delightful though it is, it has space missions that are zero. And it does have one of the world's top satellite operators which might actually get on its way. But the Grand Duchy of Luxembourg's government says it wants to invest in space mining and set up a legal framework for the future ownership of minerals mined from asteroids. Peter Marquez is the former director of space policy for U.S. President Bush and President Obama. He's currently the vice president at Planetary Resources, a U.S. company that says it will be at the forefront of asteroid mining. He joins me now. Sir, good to see you. Thank you.

PETER MARQUEZ, VICE PRESIDENT, PLANETARY RESOURCES: Very good to see you, thanks for having me.

QUEST: This move by Luxembourg, clearly they're not going to put their own rockets up or anything. How much of this is a corporate move designed, if you like, to be at the forefront of the architecture, the legal framework, the mechanisms by which this industry develops?

MARQUEZ: I think it's a little bit of all of that. They have talked to us over the course of two years from everything from the corporate side of things to technology development, human resources and hiring people across Europe and bringing them into Luxembourg. So they're looking at this across the entire spectrum of a space program.

QUEST: But to do what? I mean, because obviously the launch isn't going to take place, the companies that own the machinery will be elsewhere - what does Lux - what role does Luxembourg per se play?

MARQUEZ: I think Luxembourg has seen that this is, without hyperbole, the greatest economic opportunity in human history. And what they are doing is providing a technology base, access to universities to people, access to technologies that are critical for companies like mine to develop the technologies to go do that mining that's on the screen right there.

QUEST: Right. Now, tell me about this mining that's going to take place. Because you've got to find the asteroid, you've got to get to it and then you've got to mine it. What are you mining and how difficult is it?

MARQUEZ: Right, so we're mining three specific types of things. One is water, other is metal like iron and nickel - good to make steel to do things in space. And the last group is platinum group metals. So we bring the platinum group metals home, but then the other two items we would utilize in space. So, you know, talking about the economies of this, last summer there was an asteroid that has a very catchy name - 2011 UW158. And when that passed by earth, we were able to observe it and that asteroid had enough platinum on it that it had a market value of $5.4 trillion.

QUEST: So, my last and perhaps trickiest question - when?

MARQUEZ: So, we actually already have one satellite that we put up last year. We have another one that is going to launch this year and another one later this year, so that'll be our fourth. And so we're talking within the next five years to actually do our first prospecting mission. So this is happening now.

QUEST: We look forward to that, sir. Come back and talk more about it. Thank you very much. Maybe from Luxembourg -

MARQUEZ: Thank you.

QUEST: -- lovely place.

MARQUEZ: Yes, indeed.

QUEST: Now, Richard Anderson is to retire as the chief executive chairman of Delta Airlines. Mr. Anderson who has been in the southern carrier for years and has led it to great heights and indeed of course its merger with Northwest Airlines is to leave on May the 2nd. Ed Bastian who is the current president at Delta will become the new chief exec. Sorry to see Richard go many will say, but Ed Bastian will be certainly no surprise. He was the heir apparent. Men take center stage at New York's Fashion Week. First a highlight from "Make, Create, Innovate."


[16:51:26] New York Fashion Week has always been about women until now. Now all change! Yes, it's time for men to take much more of a role in it. In a fashion week, an image like this which now of course is far closer to the mind of what it is. Fashion Week is starting to look more and more for men as New York hosts its second-ever Men's Fashion Week. The first event had a successful launch in July. Now, Men's Fashion Week - we are very lucky. I'm privileged to have with us -


QUEST: -- lease - to come and talk to me. The collection which opened the festivities is here.


QUEST: Before we talk about the collection and what I should be wearing -


QUEST: -- tell me why Men's Fashion Week? Why was it felt necessary to do this?

ABBOUD: Well men's never been as exciting as it is now, so the men's business, probably since the 60s and 70s hasn't been this creative. So it's time to make a statement and men are dressing, men are caring about their clothes.

QUEST: Well men are caring about their clothes but what were you lacking by being involved in Women's Fashion Week or the general Fashion Week? Were you sort of being shoved under the carpet.

ABBOUD: Yes, yes, yes. Yes, men have always been stepchildren to women. It's always been women's wear as fashion, but now with the new young consumer he loves fashion so men are stepping into the forefront.

QUEST: Economically speaking -


QUEST: -- do we see the spend by men - because let's face it, -- no disrespect to the fashion industry -


QUEST: -- but there are two words there, one is fashion and the other is industry.


QUEST: Are men spending as much?

ABBOUD: Yes they are. They're spending more money but now it's a price value proposition. So men make investments in their clothes - it's not as emotional. So you have to play to a man into his purse as well as to what style he wants to wear.

QUEST: Right. This is what you were showing -


QUEST: -- last night.


QUEST: Guide me through what I should be - never mind what I will -

ABBOUD: Right.

QUEST: -- what I should be wearing next year.

ABBOUD: Well this is an ode to the American Savile Row -- custom tailoring. Men are wearing suits again. They're not just wearing sportswear. So basically you're seeing traditional fabrics like herringbones and tweeds and velvets, things that really come from that custom tailoring. And we have a factory in Massachusetts where we employ 800 people -

QUEST: Because that's one of your things, isn't it?

ABBOUD: Yes - it's made in America.

QUEST: It's all about made in America.

ABBOUD: Yes it is.

QUEST: How do you manage to make in America? I think this is rather splendid. Not my size but I - you'll forgive me if I -

ABBOUD: Not at all. It could be close though, it could be close.

QUEST: Well it is - it's a 40 regular -


QUEST: -- and I'm a bit of a 42 long -


QUEST: But I'm sure with a bit of adjustment -


QUEST: We won't make it -

ABBOUD: Yes, yes, yes, yes.

QUEST: Right.

ABBOUD: So the idea for making in America is to be able to dress American men. Not bad - we could put you on the runway, Richard.

QUEST: Please.

ABBOUD: I would love to do that.

QUEST: Done it once - I did it once.

ABBOUD: Well we'd love to have you again.

QUEST: Never again, never.

ABBOUD: We'd love to have you.

QUEST: But let me - how can make in America and compete -

ABBOUD: Right.

QUEST: -- with the price of, say, Asia or Europe?

ABBOUD: Well absolutely because we've got this factory where we do employ 800 people, and we are vertical through our - through our retail stores where we can take a product directly to the consumer. So we don't have all of this margin in the middle. We are vertical, so we can offer a suit at $895 out of Massachusetts with Italian fabrics that would be comparable to a $1,500 or $1,600 suit.

QUEST: Excellent. And so it's going to be darker colors in the fall?

ABBOUD: Well men's colors -

QUEST: Men's colors.

ABBOUD: -- so you're going to see a lot of grays and sort of the British color basically where we look at the tone of your colors - the olives and the russets which feel great in their natural, you know, tweeds and glen plaids.

QUEST: And a hat.

ABBOUD: And a hat, right.

QUEST: The hat's back!

ABBOUD: So it's basically peacock revolution part 2.

QUEST: Peacock revolution, (inaudible) as we go into the break. Which one, which one, which one -

[16:55:02] ABBOUD: You would look great in basically this wonderful Chesterfield.

QUEST: Oh my Chesterfield.

ABBOUD: Right. Doesn't that sound appropriate?

QUEST: I thought it was a sofa myself, but don't worry about it.


QUEST: A Chesterfield.

ABBOUD: Yes, in tweed and it's -

QUEST: Tweed.

ABBOUD: -- perfectly (inaudible). Yes, exactly.

QUEST: Just remember never wear brown in town.


QUEST: Good to see you.

ABBOUD: Thank you so much for having us, really appreciate it. Thank you.

QUEST: Now I've just to get the catwalk right, haven't I?


QUEST: Tonight's very "Profitable Moment." Men of the world, "Quest Means Business" viewers celebrate. The days when women had all the fashion industry to themselves seem to have disappeared. New York's decision to have a men's fashion week - maybe it's not as big or as glitzy as maybe the women's. But it is a symbol of that there is no doubt that the men's fashion industry has taken on a life of its own. Does that mean that we're all preening ourselves and discussing whether this is in or whether my __ looks big in that? No, it doesn't. What it means is that men are finally admitting, yes, we actually like what we wear and we are prepared to try different things. The realization that Men's Fashion Week has taken off in New York can surely only grow into London and Paris and beyond, whether it's tweeds or velvets. And that's "Quest Means Business" for tonight. I'm Richard Quest in New York. Whatever you're up to in the hours ahead, I hope it's profitable (RINGS BELL). I'll see you tomorrow.


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