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QUEST MEANS BUSINESS
Stock Markets Up; Police Raid Renault Offices; Oscar Nominations Released; Latest on Jakarta Terror Attacks; Actor Alan Rickman Dies of Cancer
Aired January 14, 2016 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:00] POPPY HARLOW, CNN HOST: What a difference a day makes for the market. Stocks on Wall Street are up some 2 percent as we reached the
closing trading in Thursday January the 14th. Ladies and gentlemen start you engines, the Dow races back from Wednesday's big losses.
Also ladies and gentlemen, check your engines, Renault shares plunged 10 percent after police raid their offices.
Also tonight, the Oscar nominations are out and they are slammed for a lack of diversity. I'm Poppy Harlow and this is "Quest Means Business."
Good evening, welcome to the program. Tonight, U.S. stocks rebound after a brutal selloff at the close. The Dow is up more than 200 points. The
rally follows a slight recovery in oil prices which plummeted earlier in the week. Also helping boast stocks, the President of the St. Louis Fed
warns the rout in oil prices may dampen inflation that could prompt the Fed to slow the phase of interest rate increases.
Thursday is no exception to recent pattern, though we have seen triple digit moves in the Dow almost everyday so far in 2016. Tim Anderson, he's
Managing Director at TGM investment, he is live for me in the floor of the New York Stock Exchange. Look at all the green today compared to all of
the red yesterday, the selloff accelerating into the close yesterday. Why the change of heart, is this a market that is just not rational?
TIM ANDERSON, MANAGING DIRECTOR, TGM INVESTMENT: Well it's a market that's trying to find intermediate support right now. We closed last night very
close to the closing lows from last August since September. We took a pretty good run at those on the down side in the first 30 to 45 minutes of
the day. And, we held, stabilized, oil rallied a little bit and I think the fact that oil has not gone through 30 on the downside for other than
just a few moments in today or the last few days, oil was up about 2 percent and that really gave investors some confidence that we are short-
term oversold. And, we saw initially a lot of buying in the high dividend yielding oil stocks and then it's spilled over into the rest of the sector.
And then the market kind of -- the rest of the market attracted a lot of other buying. We closed a little bit off our highs from 90 minutes ago,
but still it's a very positive breath of relief day for a lot of people in the market.
HARLOW: Certainly a breath of relieve Dave (ph) but we haven't made up nearly what has been lost if you look at the totality of 2016 so far. You
still have about a trillion dollars in stock market values lost in United States just in the first, you know, week and half of this year. Are you
worried long-term about a bear market? Are you worried about a 20 percent decline from the recent peak or do you think those fears are unjustified?
ANDERSON: Well, they're not completely unjustified. We've had a, over 20 percent decline in the Russell 2000 Index.
ANDERSON: From just where it was a few days before the end of the second quarter. And we've had more than a 20 percent decline in the
transportation index from where it was a few days before the end of 2014. So there are some areas of the market that have a much more distress than
the Dow and the S&P 500 and NASDAQ. And, this could still turn into a protracted correction that has to play out at least throughout the first
Now the last couple of corrections we've seen in October of 2014 and in August and September last year, we recovered relatively quickly from those.
And the concern is that this might take -- this might be a little bit more challenging.
HARLOW: This might be a little bit more challenging but what a day on Wall Street, we'll be watching. Thank you so much Tim, appreciate the insight
tonight, live at the New York Stock exchange.
Also this evening, a cloud of uncertainty has descended on Renault. The automaker shares fell as much as 20 percent on Thursday, they eventually
closed the session down 10. Reports reveal anti-fraud police searched three Renault offices last week looking to see if there was any evidence
that the automaker may have rigged their emissions test.
On Thursday Renault said it was cooperating fully with police, it insisted that a separate independent investigation had not revealed any cheat
devises in their cars at all. In a statement the company said, "This is good news for Renault, the ongoing tests open a way for improvement
solutions for future and current Renault vehicles."
The French economic minister played down the significance of these raids. Emmanuel Macron said there were separate investigations conducted, of
course you'll remember in the wake of the Volkswagen scandal.
[16:05:07] Still, the collapse in Renault shares point to a spooked market and points to Europe's other auto giants. Peugeot, when asked said that
police did not visit its offices and inspection of its vehicles turn up no anomalies, Peugeot shares though still down 5 percent today. Daimler and
BMW shares also tanked (ph) before pairing their looses. Volkswagen the car maker that set off the entire scandal still now looked in negotiations
with U.S. regulators, a meeting between Volkswagen CEO and the Environmental Protection Agency or EPA here in the United States, that
failed on Wednesday to produce any results.
Drew Kodjak is the Executive Director of the International Council on Clean Transportation, it is the group that first discovered Volkswagen so-called
defeat devices, rigging some 11 million of their vehicles to look like they have lower emissions than they actually did. Thank you very much for being
DREW KODJAK, EXECUTIVE DIRECTOR, INTERNATIONAL COUNCIL ON CLEAN TRANSPORTATION: Thank you for having me.
HARLOW: As we saw today, what happened, what played was shares of Renault down 28 percent at one point, then down 10 percent on the day. This is
after the company insists that they have not rigged any emissions test after the preliminary finding at least from these raids show no sign of
rigging. Do you see this as a public being, exceedingly cautious in the wake of VW?
KODJAK: I think we're getting mixed messages here and I think the market is reflecting that.
KODJAK: On the one hand, you have some of the test that have been complete by the French government which have given -- excuse me Renault a clean of
health so far.
KODJAK: And that you have raids looking for evidence of fraud, which suggest that something is awry. And so the market going down 20 percent
then bouncing back up to close at just 10 down. That's a reflection of that. The other big of interesting news today that just happened in Europe
is that the European Investment Band has announced that it will freeze further loans to Volkswagen because it could not rule out that the loans
that they had given Volkswagen in the past had been used for illegal activities.
And so that's another bit of big news that came out of Europe just today, and shows again that the shadow of this uncertainty that's caused by the
Volkswagen defeat device scam that started here in United States continues to reverberate in Europe and elsewhere.
HARLOW: And that you led that investigation into VW, obviously along with the EPA. We just heard that the meeting that they had yesterday did not
result in anything substantive. Do you believe that this is broader than VW, and I know its early going, but do you believe it is?
KODJAK: Well so, let's take a look around the world, we've had Korea do testing of diesel passenger vehicles, claim to have found defeat devices in
Korea, which is a major market for passenger diesels, and Volkswagen has said that they will make amends and deal with those vehicles. Similar
situation in India where Volkswagen has not admitted to having any defeat devises but has also said that they will deal with the vehicles that the
Indian government claims have problems.
So there's lots of reverberations around the rest of the world, certainly in Germany, Volkswagen has pledged to deal with the vehicles have excess
emissions in Germany. And in United States continues to be really the toughest nut to crack, because despite having a big announcement four
months ago with a notice of violation from the Federal government, Volkswagen still hasn't managed to come to terms with either California or
the USEPA about how to fix the vehicles in United States that have very high emissions due to the defeat devises which is a software program which
evades the emission test.
HARLOW: But the police we know in France are conducting what they're calling "a further investigation," right? After these preliminary results
into Renault came out. Can you walk me through what specifically they would be looking for that might not show up in their preliminary findings?
KODJAK: So great question Poppy. Here is the fundamental problem of proving a defeat device, is that if you just show that the vehicle has very
high, real-world emissions, you have circumstantial evidence that there might be something wrong but you don't know if it's just because there's
differences between the test cycle and what you're doing to the vehicle under the real world conditions, or if there is some type of a software
program. And the only way to tell really, is if A, you can find the software code, and there's a hacker in Europe which has published a YouTube
video showing how he has done that, which is interesting. Or, you raid the offices of manufactures and find evidence through e-mails or documents
indicating that those manufacturers actually deliberately sought to evade the law.
[16:10:06] And so, it's that second approach to proving a defeat device which seems to be what the French government is trying to do in this
HARLOW: Thank you very much, I appreciate it Drew, we will obviously stay in touch with you as you led that VW investigation and see what comes of
these further investigations. Thank you for your time.
Automakers were among the biggest losers on the European markets, all the major indexes in Europe ended the day lower. It was not all though bleak,
Tesco shares surged 6 percent. The British supermarket chain reported its sales rose for the first time in over -- in four years frankly, over the
A shocking attack in Indonesian capital, gunfire and explosions, rocking Jakarta, we will take you there live next.
Terror in the heart of Indonesia's capital, ISIS is claiming responsibility for a series of well-coordinated attacks in Jakarta. Explosions and
gunfire rocked the city in a Paris style coordinated assault. Gunmen opened fire after a suicide bomber struck near a Starbucks. At least two
people were killed, dozens more wounded, the attacker struck a busy commercial area right in the heart of Jakarta.
The target is an entertainment and shopping district that is very popular with foreigners. The city's police chief names an ISIS militant as being
the man who plotted the attacks.
(BEGIN VIDEO CLIP)
TITO KARNAVIAN, JAKARTA POLICE CHIEF (through translation): In South East Asia, there's a militant named Bahrun Naim who wants to be the leader of
the region. As when taking over the leadership, he declared his leadership in the southern Philippines. All leaders in Southeast Asia are competing
to be the chief, that's why the Bahrun Naim plotted this attack.
(END VIDEO CLIP)
HARLOW: While a police spokesman told CNN that the terrorist were targeting foreigners and police, Indonesia's tourist ministry says, it
believes tourist were not being targeted. Earlier I spoke to a ministry spokesperson Noviendi Makalam who told me that this area was not an area
with quote many foreign travelers. I started by asking him his reaction to the attacks.
(BEGIN VIDEO CLIP)
NOVIENDI MAKALAM, SPOKESMAN, INDONESIA TOURISM MINISTRY: We are very saddened of this accident, but actually that is always happening so many
parts of the world. Unfortunately this time it's Jakarta, and from the -- tourism Indonesia we are very, very saddened about this.
HARLOW: This follows -- you're the spokesman for Indonesia's tourism ministry and it follows the 2009 joint hotel attack in Jakarta, the 2002
attack in Bali that had a significant downward effect on tourism. How can you ensure foreigner safety, especially when it appears that foreigners
were targeted here?
MAKALAM: Actually this time it's not foreign tourist who is the target of the attack. We can assure about that. And, we are very pleased with what
have been done by the Indonesian security forces that, in only in five hours they have already do a very good job in localizing the areas.
[16:15:06] HARLOW: Sir, you said that foreigners were not targeted, why do you believe foreigners were not targeted in this?
MAKALAM: It's different because it's not -- this is not a place where many foreign travelers to Indonesia are gathered. It's -- and they are not
targeted to any tourism industry establishment. This is in the heard of Jakarta and it's not really, have a very much number of foreign visitors in
this area. Yes this is a mall here but actually this is not really a place where foreign visitors are gathered in Jakarta during the time.
HARLOW: Have you increased security measures on major hotels and other spots that could be targets?
MAKALAM: Yes, yes. We have already contact at least 14 hotels in the surrounding office area this afternoon, right after the incident. So,
they're already -- and we still have contact, good contact with them, most of them, and there is no rush, there is cancelation until not. So, we are
very pleased to hear that. Even our airlines are also doing -- reporting a very good condition, our airline -- our airport is also in the good shape.
HARLOW: Do you see this as an attack sir on Indonesia's economy, on Indonesia's business hub?
MAKALAM: We look very carefully on the rate of rupiah against dollar and we also look at the Indonesian stock exchange up to the closer of the
(inaudible) this afternoon. And, there is no sudden drop, it dropped after the incident, but on the later part it's gaining again. So, we are quite
confident of what happened in the economic sector that, the market is really confident with what have been done by the Indonesian government.
(END VIDEO CLIP)
HARLOW: CNN Senior Internal Correspondent Ivan Watson is live for us in Jakarta with the very latest. Ivan, let me ask you, because you heard the
ministry of tourism there saying that foreigners were not targeted. The police are saying they were, what are you hearing?
IVAN WATSON, CNN SENIOR INTERNAL CORRESPONDENT: Well, let's look at one of the targets, right behind me, right here. Behind these floral displays
that are messages of condolences Poppy, this was an Indonesian police traffic control booth that was hit by the attackers on Thursday morning.
So, there are no foreigners in this location at all.
But, if we spin around, and Brad let's spin around here so we can give some perspective, the Starbucks where a suicide bomber struck and begun the
attack is right across the street, right across the intersection. And this is the shopping mall here that has McDonald's and so on. That normally
this time of the time would be open kind of 24/7, but as a result of these attacks is not.
So, this is an area that yes, some foreigners come to, there are major hotels up and down this boulevard but it is also a destination for
Indonesian as well, and they would have vastly outnumbered the faces of foreigners in this area. Poppy.
HARLOW: And this obviously follows the 2002 attack in Bali, the 2009 joint hotel attack there in Jakarta. What is the government saying Ivan if
anything at this hour, especially after ISIS claimed responsibility?
WATSON: Right. Well not only has ISIS claimed responsibility but also the Jakarta police have said, this is an ISIS attack, and they've even named an
Indonesian who they say went to Syria to fight alongside ISIS named Bahrun Naim, they claimed that he is trying to set up an ISIS network in Southeast
Asia. It's important to note, this was not one of those mass casualty event attacks that ISIS succeeded in carrying out in Paris a few months
ago. The scale of the damage of the Starbucks there is not massive, it's on the inside, there were two people killed here, a foreigner and an
Indonesian, and five attackers killed.
Was that a result of, what that a result of incompetence on the part of the militant, was it a response, a result of, a quick response on the part of
the Indonesian security forces?
[16:20: 04] It's not entirely clear, but it's certainly didn't come anywhere close to some of the horrific attacks that were carried out by al-
Qaeda linked militants in Indonesia, in the past decade that were affiliated with a group called Jamia Islamia, a group that counter-
terrorism experts all really much agree that the Indonesian security forces succeeded in dismantling over the course of the last decade. If this was
in fact ISIS, what happened here on Thursday then that would presumably be a new generation of militants here in Indonesia, that's something that the
Pentagon, that the Australian government and now the Indonesian government are warning about. Poppy.
HARLOW: Ivan Watson, live for us tonight in Jakarta. Ivan, thank you very much.
Next, how a group of men past retirement pulled the single biggest burglary in U.K.'s history, ahead.
Three men have been convicted of involvement in what prosecutors are calling the biggest burglary in English legal history. Four others plead
guilty in September, many of the criminals are well retirement. Our Phil Black looks at how they managed to steal $20 million worth of jewelry and
other valuables from a vault in London's jewelry quarter in April.
(BEGIN VIDEO CLIP)
PHIL BLACK, CNN CORRESPONDENT: At a glance it looks innocuous. A white transit van travels through the back streets of London at the start of last
year's Easter long weekend. Nearby, two men in high-visibility vest are on foot. Again, on the face of it, unremarkable, but this was the moment
caught on security cameras that a $20 million jewelry heist begun to unfold.
DETECTIVE SUPERINTENDENT CRAIG TURNER, METROPOLITAN POLICE: It was one of the largest burglaries that has ever taken place within London in recent
times. It was meticulously planned over a three-year period.
BLACK: The target, the Hatton Garden Safe Deposit Company, the heart of London's diamond district.
This video shows how the gang of thieves used a fire escape to come and go from the building over a period of three days, careful to hide their faces
from the camera. Once inside they used a lift shaft to access the basement, they cut through metal bar and drilled through a thick concrete
wall to climb into the vault where they're raided dozens of boxes containing precious stones and valuables. The thieves casually loaded two
wheelie bins into the transit van and drove away, leaving little forensic evidence.
In the end investigators followed David from landlines and mobile phones, to a gang led by pension aid (ph), highly experienced criminals.
TURNER: They thought they pulled it off, they thought that overseas secured their own pension box (ph).
BLACK: The police begun their surveillance operation, planting listening devises in their cars and swooped in to make arrest after the suspects were
seen moving some of the stolen goods.
TURNER: They're bragging and they thought they've got away with it, and they were talking about films being made themselves.
BLACK: Four men fought the charges in court, four others admit they were involved, one insisting he wanted to come clean showed police where he hid
part of the loot, under a memorial stone in a London cemetery.
TURNER: They were cowards. They had no consideration for those victims of crime whatsoever. I'll ask members of the public to actually look past
their actual age.
[16:25:03] They were well-scorned individuals in relation to criminal activity. And members of the public should look past the glamorization of
BLACK: Prosecutor say only around one-third of the stolen items have been recovered. Around $14 million worth is still missing.
Phil Black, CNN, London.
(END VIDEO CLIP)
HARLOW: Federal health officials are considering whether to warn pregnant women against travel to Brazil and some other Latin American and Caribbean
countries Zika virus is spreading. Zika is transmitted via mosquitoes and experts fear it may cause birth defects.
Our Shasta Darlington is live in Rio de Janeiro, Shasta, this has been focus in Rio for quite sometime, you've been reporting on it in the past
few weeks. Brazilian health officials have been warning about it, but now you have global health officials concern. What are Brazilians saying?
SHASTA DARLINGTON, CNN CORRESPONDENT: Well as you said Poppy, this has been a concern for quite sometime here in Brazil, to the point that doctors
and even health officials are warning women to put off their pregnancies if they possibly can, at least until we get through the summer rainy season
when you see even more and more mosquitoes. The mosquitoes are what transmit their Zika virus.
And, they're specially, they're proliferating in the northeast, and basically, when this virus, the Zika virus pops up in Brazil last year it
didn't really set off alarm bells, until officials started noticing a huge surge in this birth defect called microcephaly. And, since then, with
research, they tied the two, they believe that mothers who have been bitten by a mosquito with the Zika virus have then turned up with infants being
born with microcephaly. These birth defects can mean that they have miscarriages, that the children die early, or that they need constant
health throughout their lives, constant assistance.
So you can imagine, it is a huge source of concern here. And, frankly the mosquito that carries it is found throughout many countries in the region
and is a growing concern throughout the region, Poppy.
HARLOW: It's also interesting, is it here in the United States? Obviously a lot of people travel from the United States to Brazil on vacation, on
business, in the United States officials are saying this could be the first time that the Centers for Disease Control and Protection advises pregnant
women to avoid specific places of travel, that is huge and they're making that determination right now. What does that do and what is the concern
about the impact in the Brazilian economy given the rough waters that's already in, and ahead of the Olympics?
DARLINGTON: Well, it couldn't come at a worse time, not only are we six months away from the Olympic game here in Rio de Janeiro, but Brazil is
mired in a prolonged recessions that isn't expected to end at this year, so in some ways the Olympics was kind of a lifeline at least for the local
economy, there's a lot of construction going on, airport expansions. And they were expecting or they are expecting about half a million visitors to
If there is some kind of a warning put out there, it's very likely that at least -- at the very least, pregnant women or women thinking about pregnant
will put off their plans or cancel their plans to come to the Olympics, so that could have a huge impact. There's -- another cost thought that I
think people should keep in mind, that's the cost to the health system here.
When I was talking about these babies born with birth defects, I'm talking about, more than 3,500 since the Zika virus was detected, in a normal year,
you get about 150. So these in many cases are babies who are going to need for many years as they grow up. And it also, is a huge burden on the
prenatal care for women, again, in country that's in a prolonged recession where they're slashing budgets across the board. Poppy.
HARLOW: Shasta Darlington in Rio for us tonight. Scary reality, what happening, thank you very much Shasta.
Coming up, the price of oil is driving stocks. I will speak with legendary oil man T. Boone Pickens about where prices are headed, what his
[16:31:25] POPPY HARLOW, CNN ANCHOR: Hello. I'm Poppy Harlow. There is more Quest Means Business in a moment when T. Boone Pickens tells me he is
glad he is not too exposed to the current oil market madness.
And the winner is not diversity, the Oscar nominations are criticized for being "So White".
Before that, this is CNN. And this is time update you on the latest news headlines.
ISIS has claimed responsibility for series of terrorist attacks in Indonesia's capital, two civilians were killed and more than 20 others
wounded. Police say at least five attackers besieged the shopping district of popular westerners. A U.N. employee at the scene described the chaos of
the string of explosion that hit the city in quick secession.
(BEGIN VIDEO CLIP)
JEREMY DOUGLAS, UNITED NATIONS: I was in the car when first happened, and we got to call our driver that had a call from our security, asking where
we were. There sort of bombing gone off (ph) in front of the building. But we were actually, luckily pulling into the front of the -- in the back
of the (inaudible).
We pull up and got out of the car. There's a little bit of chaos because people weren't quite sure what's going on. And then, a second bomb went
off as we were getting out of the car. And we basically rush into the building.
And then, the third bomb went off, we went off to our office on the 10th floor and now we're locked down in the 10th floor, in our office building.
And then, a fourth, a fifth and sixth bomb went off and then we heard small arms fire in the street, in front of the building.
You couldn't get much more central in Jakarta if you tried. It's right (inaudible) out in the central business area, so you got major
international hotel chains all over the place. And you got the U.N. the Japanese Embassies down.
So there's a big diplomatic beef (ph) and there's a big business community right now. So if you want to make an impact, you want to get some
visibility for what you're trying to do, this is the place to be.
(END VIDEO CLIP)
HARLOW: The World Health Organization has declared three West African countries officially Ebola free, this end the outbreak that killed more
than 11,000 West Africans. The WHO though still warning that these three countries remain at risk, a possible flare offs or small outbreak and that
they must remain vigilant.
A French schoolteacher injured in Wednesday deadly avalanche at a French Alps Ski Resort is being investigated for involuntary manslaughter. Three
people were killed including two of the teacher's students. The school group was touring was touring an avalanche slope that was closed because of
avalanche risk when by struck (ph).
The Powerball lottery in the United States has a winner finally or three. The biggest lottery jackpot in history at the total $1.5 billion dollars
will be split between the three owners of three winning tickets. The lucky tickers are sold in California, Tennessee and Florida.
Oil prices rebounded on Thursday but the damage is far from over. Prices for Brent Crude, the global benchmark, are up more than 2 percent for the
day. They're still off 70 percent from the peak 18 months ago.
J.P. Morgan CEO James Dimon says loans made oil companies could cost problems for his bank. And new a report finds that oil and gas projects
worth almost $400 billion have been put on hold across the world.
[16:35:00] Few basis in, no more about the oil markets in T. Boone Pickens, he is chairman of B.P. Capital Management. I just spoke with him a short
time ago and asked him whether he believes in the doomsday scenarios of $10 oil.
(BEGIN VIDEO CLIP)
T. BOONE PICKENS, CHAIRMAN OF B.P. CAPITAL MANAGEMENT: You're oversupplied by 1 million to 1.5 million barrels a day. And back in the late '80, '85,
'86, '87, that we're oversupplied by 20 percent, 20 million barrels a day.
So it's, of course, happened is the U.S. industry got $100 oil, figured out how drill oils on wells (ph), did multiple fracks in those wells. And we
increase productions in United States from 4 million barrels a day, to over 9 million barrels a day.
In their end, was the oversupply issue. Now, what's going to happen, Wood McKenzie came out today, that you're off, you've got out of budgets now,
380 billion, 68 major projects been cut to that 19 to 22. It is where they were going to come on.
You're going to be down at that point, those projects will cut out 3 millions barrels a day, getting ready. You're going to have $100 oil or
even higher at that point.
HARLOW: Where do you see any sort of upward pressure on oil because it's clearly not coming from the global demand side, especially with China. And
it certainly not coming from a lack of supply side so where does the upward pressure coming from?
PICKENS: Well, you've got a pretty good demand, you're about a million day and I think projected for the year, you're going to be out of something
around a million barrels a day.
And you're oversupplied by 1 million to 1.5 million barrels. So you're going to buy at the end of the year, I promise you, you're not going to be
$30 oil, I can tell you that. It would be substantially higher than that.
HARLOW: Where is it going to be, T. Boone?
PICKENS: All you try to (inaudible) on this, you did last year a step a toe. And so, it's -- I'll -- you will be twice what you are now.
HARLOW: All right. So you sound like a buying man in this environment. We just saw from the latest FCC filings that Warren Buffett's Berkshire
Hathaway pick up some more shares in oil giants Phillips 66, how much of a buying opportunity is this in your eyes?
PICKENS: Well, I don't think you have to rush to get in, and it's not going to just go straight up here. Right now, I'm kind of on the side
lines and thank God.
HARLOW: When you look at this, there's also big questions about U.S. exports, it has been decades since we've seen the U.S. really exporting
oil, and that is all changing now. I'm interested in how you think that changes the global picture. And also, how meaningful you think it is for
bringing some of those good paying energy jobs back here in the United States that have been caught in the wake of all of this.
PICKENS: Well, the jobs you've lost, they didn't go out of the country. They're in the United States.
PICKENS: We've lost 200,000 jobs now. And with these cuts, it of Wood McKenzie has pointed out today that you're going to have more cuts
probably. But today, you got $30 West Texas Intermediate, you got $30 Brent.
So the arbitrage between the Brent and the West Texas Intermediate is no longer there. They are flat price, they the reason to export oil out of
the United States.
HARLOW: But where does the fact that we will see the U.S. exporting mark, eventually what does do just to the overall global market.
PICKENS: Well, more oil in the market plants oversupplied these are cheaper price. But the United States is still imported. We use 18 millin-
19 million barrels a day. And we're still importing 8 million-9 million barrels a day.
So it is in a case that we're coming out of a market, the United States where we have too much oil, we were still importing off.
HARLOW: Final question. As Iran, comes back on line with this oil, as the Iranian oil enters the global market, T. Boone, how significant is that?
PICKENS: Well, the Iranian oil, they've been shipping all out there by truck, across Iraq for some time. We don't know how much has been sipped
that way. But I have the feeling that when the Iranian oil comes back on, it will be closer to 2 billion barrels a day --excuse me, 200,000 barrels a
day instead of 500,000.
Now, they claim they can bring a million on really quick, we'll see.
HARLOW: T. Boone Pickens, thank you for that.
I do have some sad news in to CNN, tell about the theme singer Celine Dion has announced on Facebook that her husband Rene Angelil has passed away.
[16:40:00] The message reads, "It is with deep sadness that we announce that Rene Angelil has died at age 73 this morning at her residence in Las
Vegas after a long and courageous fight against cancer. The family wishes to live the mourning in privacy, other information will be provided in the
next few days."
And second scathing repot anti-doping (ph) in Global Athletics, I will more -- it has put more pressure in the man in-charge to clean up the world of
[16:42:14] HARLOW: Tonight, more pressure on the man in-charge of Global Athletics scathing new report from the World Anti-Doping Agency claims
corruption was "Embedded" at the governing body of World Athletics, the IAAF.
The federation's president and British Olympic hero Sebastian Coe is not in-charge of restoring confidence in the IAAF.
Let's bring in World Sports Patrick Snell to take us through the story here. I appreciate you being with us. When we look at this, how damming
the supporters for the IAAF and them saying no more people had to have known, how can Sebastian Coe led this organization forward in the way that
needs to be done, given that this ostensibly happened on his watch.
PATRICK SNELL, CNN WORLD SPORTS: Absolutely. Quiet simply, Poppy, because Dick Pound the commissioner obviously while (ph) the report saying, "Look,
I can't think of anyone better to lead athletics forward."
Yes, Coe was part of the IAAF council if you like. He was the vice president for many years before he got the top job replacing the now former
incumbent Lamine Diack, the 82-year-old from Senegal around whom so much attention has actually focused.
And the report coming out this day saying that Diack was responsible for what is called organizing and enabling the conspiracy and corruption that
appears to let the athletes and all these officials being bride to cover up positive doping results. But it absolutely crucial now as the spot light
pulls very intense.
The man now, Seb Coe, as you say, as story former British Olympian how does he turn it around really is getting a vote to confidence on the surface
Let's hear what Mr. Pound himself had to say about it all.
(BEGIN VIDEO CLIP)
RICHARD POUND, CHAIRMAN WADA COMMISSION: I think it's a fabulous opportunity for the IAAF, to sees this opportunity and under strong
leadership, to move forward out of this. There's an enormous amount of reputational recovery that has to occur here. And I can't -- we're just
sending the person out, I can't think of anyone better than Lord Coe to lead that.
(END VIDEO CLIP)
SNELL: So that is a vote of confidence if you like. And of course, Seb Coe in our London studio early this week our Amanda Davies that he feared
and was very confident just to make it very clear, telling Amanda Davies that he was absolutely confident there will be no alligations coming out
against him, Poppy. As of right now, he has been true to his word on that.
HARLOW: How people go to think it is just for the sport to move forward, sort of unstained from this. I mean having enough confidence and Coe
recovering from this. This is a sport that obviously sort of struggles more than others. I think your round to get the fan-based.
SNELL: Nei (ph) on impossibly. Talk about the fact this task for Seb Coe.
[16:45:00] But you know what? You know, he comes across to someone who wants to get his teeth into this. He seems absolutely determined by and
his preceding absolutely undaunted by what's going on. He is already talking a very, very positive game. I'll get to what he said in just a few
But let's just remind our viewers worldwide of what he brings to the table in terms of his regime. I mentioned earlier, he's a famed and story
As you can see, a couple of gold metals to his name when take you back to the Olympic games of 1980 in Moscow and then 1984, Los Angeles in the
United States as well. A former IAAF vice president for seven years as well, and the man, of course, who bought a wonderful London Olympics to the
U.K. in 2012, so great pedigree in terms of resume.
But, it's now, it's done with the talking. People want action. People want to see the sport cleaned up as quickly as possible. And I mentioned
the (inaudible) task, what is Coe himself saying about at all. This is what he had to say in the statement after Thursday's key developments in
Bavaria, in Munich early.
He stated, "The journey back to trust will take far longer and will be a painful process. We can't sit here begging for trust. We have to show by
every action that we take that we earn that trust." So, he's talking in the game now. His critics will say step up and deliver.
Poppy, back to you.
HARLOW: Thank you so much, Patrick.
This evening for us, coming up next, in a moment, why summer calling the Academy Awards "So white" the lack of diversity in the nominations ahead,
first still a highlight from make, create, innovate.
HARLOW: We cannot predict who will win major Oscars at this year's Academy Awards. But we do know which (inaudible) certainty who will not win, many
Take a look at the nominees for best actor. You will notice something missing. The same goes for those competing for best actress. It's a
second year in the road that no actors of color have been nominated for those major awards.
At this time last year, the Oakland Tribune's front page read in the Oscar for best Caucasian goes to -- Tanzina Vega CNNmoney Digital Correspond who
covers race very closely is with me now.
Where do I begin? A lot of these stems from a lack of opportunity, doesn't it? I mean, you have to get minorities, women, et cetera into these rules
in order to win these big awards.
TANZINA VEGA, CNNMONEY DIGITAL CORRESPONDENT: That's right. That's right, Poppy. It all matters.
One thing leads to the other and we're seeing this issue happening not just in Hollywood. We're seeing it happening at Silicon Valley. We're seeing
it happen even in the media. I mean, there were people on Twitter today talking about how white the media was, who was actually covering the fact
the Hollywood is in Oscars are so white, right.
So, there's this pipeline issue that we're seeing. And honestly, nominations matter. Nominations and winning this award even matters more.
But nominations are critical to securing the type of financing, the type of networking. And really getting these films and these actors in the
pipeline to achieving what it is that we're trying to achieve in terms broader diversity here.
The Academy, it's historically. Now, of course, we don't know the exact number. But the Academy is historically undiverse.
And even though, there had been some efforts to diversify that, we don't have the exact numbers and we know that the majority of them are older,
white and male.
And that is reflected in the films that are being nominated.
[16:50:02] I mean, even when you look at Creed and you look at Straight Outta Compton, the two films that do touch on the African-American
experience today in America. The folks that were nominated for those awards, for those films were white.
And so, there is obviously an issue here that we're talking about, when we look at pipeline.
HARLOW: And the question becomes what will you do, how you solve it. Obviously, you know, elevating minority talent is huge as you said in
Silicon Valley or in Hollywood.
Also though, there's a question of quotas, and whether a quota system should even be considered. Where do you fall on that?
VEGA: Well, I think the Academy's actually said that they have a plan. It's called, "A2020". Now, the specifics of that plan have yet to be
released and how they plan to -- for the diversify within the industry.
I think part of the issue here, when we talk about quotas, I think we get into dangerous territory. Because frankly, the academy does not reflect
what the rest of America looks like. And I think that's what people are calling for. People want to see the films that reflect all of their
experiences not just one type of experience.
In many times, the types of films particularly regarding African-Americans that are awarded and the types of films that we look and give accolades to
our films that represent only one type of the experience in the African- American community. Whether that would be slavery, whether that be, you know, pathologies within poverty and different types of community.
So, they're not -- so, even when the Academy does award actors of color and these actors who have done tremendous performances on camera. They often
only intend to award one type of films.
So, we have to see diversity in the types of films but also Hollywood really means to come out with the plan to do that. There are independent
efforts at play, but really nothing systemic that we've seen so far.
HARLOW: All right. Tanzina Vega, thank you so much. Disappointing to see, let's hope it changes next time.
VEGA: We'll see if it changes, thank you so much.
HARLOW: Thank you. Staying with film, The entertainment world tonight, mourning, the lost of a truly great talent.
British Actor, Alan Rickman has died at the age of 69 after brief battle with cancer. He was an acclaim and versatile actor on both the stage and
on the screen.
Our Erin McLaughlin has more on his life and his career.
ERIN MCLAUGHLIN, CNN CORRESPONDENT: The moment he appeared on screen, it was all there, the flair, the charisma and the voice.
ALAN RICKMAN AS PROFESSOR SEVERUS SNAPE: Turn to page 394.
MCLAUGHLIN: Unmistakably, Alan Rickman arguably most famous for the trail of one of the most iconic characters in the Harry Potter franchise,
Professor Severus Snape.
RICKMAN (Professor Snape): Mr. Potter.
MCLAUGHLIN: Through out the series, it was unclear whether the professor was good or evil. Rickman was the only actor who knew how to play the
devious character. His story was revealed to the rest of the world in the final film.
RICKNMAN: Before I started, I rang J. Rowling and I said, "You have to tell me something." And she tells me one tiny piece of information which I
swore I would never share with anybody here.
MCLAUGHLIN: A native Londoner, his break out film role was in "Die Hard" as "Hans Gruber". Rickman won the Golden Globe and Emmy in the Screen
Actor's Guild Awards for as much acclaimed
RICKMAN (As Grigori Rasputin): You can see the face of God.
MCLAUGHLIN: Performance as the Sheriff of Nottingham in Robin, Robin Hood: Prince of Thieves landed him a (inaudible)..
RICKMAN (As Sheriff George of Nottingham): And call off Christmas.
ROWAN ATKINSON, ACTOR: What's that?
MCLAUGHLIN: The devilish charm also extended to films like "Love Actually.
ATKINSON: Are you (inaudible) for Christmas?
RICKMAN: What was that?
RICHARD FITZWILLIAM, FILM CRITIC: He definitely wants to be remembered only as villain. World's absolutely superb, he could be someone you really
would love to kill. But equally, he would be someone you would be absolute enlightened if you took a (inaudible).
MCLAUGHLIN: On choosing his roles, he told CNN.
RICKMAN: (Inaudible) at the judge character on planning because then you'd be lost.
MCLAUGHLIN: Now, the world has lost one of the most versatile and recognizable actors of the screen in the stage. Alan Rickman was 69.
[16:57:34] HARLOW: A little levity tonight for you. Rapper Snoop Dogg is a man of particular taste, so when his Xbox connection goes down, he's
going to let you know about it. Xbox Live went down of Wednesday afternoon leaving gamers unable to temporarily log on. Understandably, some
Microsoft customers were upset.
None more so it appears than Snoop Dog who took to Instragam to take out his frustrations and to take them at the very top of the company.
(BEGIN VIDEO CLIP)
SNOOP DOG: So, my message to Xbox One on Microsoft like whoever the (inaudible), it sounds like (inaudible) whack man. You don't want me to
switch to PlayStation if you don't know how to get this thing (inaudible) fix.
Is that difficult to place somebody online? What the (inaudible) are you doing, Bill Gates? Fix your (inaudible) man.
(END VIDEO CLIP)
HARLOW: Clearly, you should not come between Snoop Dogg and his beloved Xbox. That video, it's been like more than 30,000 times on Instagram.
But here is the thing, Bill Gates no longer has anything to do with Microsoft's day to day operations.
He is still on aboard, but his role at Microsoft as technology advisor. Microsoft Spoke person did not respond to the request for comments.
Snoop been while says, "He's switching the PlayStation."
Microsoft ended the day up 2.8 percent on the market, the broader market ended higher as well. Here in the United States, Dow Jones Industrial
average post up 227 points at the 1.4 percent increase.
The rally follow the slight recovery at oil prices which plummeted earlier in the week, also helping boost stock. The president of the St. Louis Fed
warns the route in oil prices may (inaudible) an inflation, that could prompt the fed to slow down their pace of rate increases.
Trading in Fiat Chrysler shares was halted in Milan, because of a lost still here in the United States. Two auto dealers have stood Fiat accusing
them of rewarding dealers that reported inflated sales figures. Fiat has denied that claim. Sharers in New York finished down 4 percent.
And automakers were among the biggest losers on the European markets, all the major in indexes ended lower but it wasn't all bleak. Tesco shares
surge 6 percent. The British supermarket chain reported its sales rose for the first time in four years over the holiday period.
That is Quest Means Business. Thank you so much for joining us this evening, I'm Poppy Harlow. Stay with CNN for the latest news, straight