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Quest Means Business

Brazilian President Lula da Silva Vows Justice After Riots; Goldman Sachs Says It Will Lay Off Up To 3,200 Employees; Joy As China Reopens After Three Years Of Lockdown; Rolls Royce Rides Luxury Demand To Sales Record In 2022; Harry Accuses Camilla Of Leaking Stories To British Media As Part Of Campaign To Rehabilitate Her Image; Harry: William, Kate Never Welcome Meghan To Family. Aired 3-4p ET

Aired January 09, 2023 - 15:00:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[15:00:30]

RAHEL SOLOMON, CNN BUSINESS HOST: On Wall Street, an early session rally, well that's run out of steam. Well, the Big Board pulled, but you can see

the Dow is off about one quarter of a point or about 75 points right now.

Those are the markets and these are the main events. The Biden administration under pressure to expel Jair Bolsonaro from the US after

supporters of the former President stormed government buildings in Brazil. We will have a live report.

In Hong Kong meantime, tearful reunions as China lifts border restrictions.

And Rolls Royce celebrates a record year as the super-rich just keep on spending despite economic anxiety. The CEO joins me live.

Live from New York, it is Monday, January 9th. I'm Rahel Solomon in for Richard Quest and this is QUEST MEANS BUSINESS.

We begin in Brazil where the President is vowing to punish rioters who he says carried out a terrorist attack on the government.

The Justice Minister says that about 1,500 people have been arrested since Sunday's violence. That's when crowds stormed the Supreme Court, Congress,

and presidential palace. The supporters of former President Jair Bolsonaro claim without evidence that last year's election was stolen from him.

After touring the damage, President Lula da Silva called the riots barbaric. Police say they've now cleared out the camps of Bolsonaro

supporters in the capital. Condemnation out of the attacks has flooded in from around the world.

President Biden releasing a joint statement with the Mexican and Canadian leaders saying they support Brazil in safeguarding its democratic

institutions. We are also expecting to hear from Mr. Biden in the next few hours.

And several US lawmakers calling for former President Bolsonaro to be sent back to Brazil. He has been in Florida since the end of his term.

Democratic Congressman Joaquin Castro told CNN why he is a danger in the US. Listen.

(BEGIN VIDEO CLIP)

REP. JOAQUIN CASTRO (D-TX): I stand with the democratically elected leadership in Brazil, and he basically use the Trump playbook to inspire

domestic terrorists to try to take over the government. And you're right it looks a lot like January 6 in the United States.

And right now Bolsonaro is in Florida and he is actually very close to Donald Trump. He should be extradited to Brazil.

(END VIDEO CLIP)

SOLOMON: And the chaos left dozens injured and millions of dollars in damages. Rafael Romo has more.

(BEGIN VIDEOTAPE)

RAFAEL ROMO, CNN SENIOR LATIN AFFAIRS EDITOR (voice over): Brazil boiling over. Supporters of former Brazilian President Jair Bolsonaro stormed key

buildings in the country's capital, Sunday, breaching security barriers and temporarily occupying the country's Congress, Presidential Palace, and

Supreme Court.

Masses of protesters flooded the country's seat of power, many dressed in the colors of Brazil's flag yellow and green, fueled by anger and distrust

over Bolsonaro's defeat in a runoff election last October where he lost by less than two percentage points to Korean President Luiz Inacio Lula da

Silva.

Protesters threw objects and scaled the roofs of buildings while clashing with police who responded with teargas. At least one protester was seen

sitting at the desk of Brazil's Congress President.

CNN Brasil reports the floor of the Congress building was flooded after the sprinkler system activated when protesters attempted to set fire to the

carpet.

By evening, police began dispersing the rioters from buildings and arrested hundreds of people who were detained in buses before being taken to the

police station.

President Lula da Silva, who was inaugurated just a week ago described the events as barbaric and vowed to punish the people responsible.

LUIZ INACIO LULA DA SILVA, BRAZILIAN PRESIDENT (through translator): Those people that we call fascist. We call them everything that is abominable in

politics.

They invaded the government headquarters, and they invaded the Congress like vandals destroying everything in their path.

ROMO (voice over): President Lula da Silva also blamed his predecessor for the lack of security in the Capitol where Bolsonaro supporters have been

camped out for over a week.

Bolsonaro, who is currently in Florida, denounced what he called the depredations and invasions of public buildings in a tweet, adding that

peaceful and lawful demonstrations are part of democracy.

But critics say Bolsonaro may have stirred up the crowds by repeatedly saying without evidence that he questioned the integrity of the country's

electronic voting system.

(END VIDEOTAPE)

[15:05:10]

SOLOMON: And Rafael Romo is with me now from Atlanta; Mathias Brotero, also with me, he is a reporter for CNN Brasil. Welcome to you both. He joins me

now from Sao Paulo.

Rafael, I want to start with you, these calls as I understand it, just from Democratic lawmakers thus far, urging the White House to expel Bolsonaro.

What more can you tell us what happens now?

ROMO: Yes, it is going to be difficult to determine exactly what can happen to President Jair Bolsonaro. Let's remember that he was supposed to

be at the Inauguration Ceremony on January 1, as is it is traditionally in Brazil. The outgoing President is supposed to hand over the Presidential

sash which didn't happen. Previously, before the ceremony was to take place, he said he was not going to be there.

He has never conceded that he lost the election, the runoff election on October 30th, and even though he was not actively telling his supporters to

protest, he wasn't doing anything to dispel the notions and the lies flying in Brazil about what had happened during the election.

So, it's going to be very interesting to see what the Brazilian authorities decide to do in the next few days and weeks -- Rahel.

SOLOMON: A lot more from here, and I want to bring in Mathias now.

Mathias, you were actually on the scene there. I mean, walk me through the status now and just the level of damage. As I understand it, weapons were

apparently stolen. There was priceless artwork that was also taken or damaged. Walk me through the level of damage.

MATHIAS BROTERO, CNN BRASIL REPORTER: It was a very big damage, Rahel and Rafael, good evening to both of you.

And actually, Brazil's buildings, Brazil's Congress building, government offices and Supreme Federal Courts, pieces of art were ransacked during all

this storming. There were fires. There were even policemen who were in horses that were thrown off their horses.

So it was a very, very grave situation in Brasilia, Brazil's Federal capital. I myself am in Sao Paulo right now, which is our financial

capital. But I have lived in Brasilia for almost three years and I can say that the streets are very calm and the calm of the streets in Brasilia were

transformed into a huge riot.

We could see through the footage where the policemen were not able to prevent the invasion through the barricades, the barricades that were

already in the Planalto, which is where all the three powers are established.

So it is a very grave situation in which the damage will be -- there will be a lot of time for the damage, all the damage, to be recuperated. The

fact of the matter is that right now, at least 1,500 people have been detained either for investigation or even been arrested. The President of

the three powers, the executive power, the legislative, and also the judiciary power had a note today earlier this morning, a statement in which

they condemned what they called acts of terrorism, vandalism, criminal, and coup-like activities.

Also, even though the Parliament was completely -- part of the Parliament is completely destroyed, I mean, inside the rooms, the paintings, chairs,

the Congressmen decided today that there will be a Parliamentary Inquiry to decide who will be held accountable, who will be held responsible for all

this situation.

So the authorities have already been speaking today, one day after the storming the ransacking of Brazil's Planalto, to actually Brasilia's -- the

Federal capital Governor Ibaneis Rocha was taken away from his public position today, for a period of 90 days by Supreme Federal Court Minister

Alexandre de Moraes and the Secretary of Justice and Security was also fired. That was also yesterday.

So the authorities have now been moving in the sense to first decide who will be held accountable for all this situation as Rafael had already

brought here to this discussion.

Former President Jair Bolsonaro, and his supporters believe without proof that the electoral system was rigged, and that has been one of the claims

of the supporters so that they are in these camps around Brasilia and all around Brazil, but the fact of the matter is that it will be -- it will

take a lot of time for all the situation to be calmed down to normal.

And now, authorities are deciding how to proceed regarding everything that has been destroyed, but also how to proceed so that this does not happen

again.

SOLOMON: A nation that remains deeply divided. Rafael Romo and Mathias Brotero, wonderful to have you both, thank you.

[15:10:01]

Back here in the US, let's check on US markets with an early session rally as we said at the beginning of the show, has pretty much petered out in the

final hour of trade. The Dow has turned lower, it is down two-tenths of one percent right now, about 65 points.

The NASDAQ, meantime, let's take a look, is still up about one percent, just about one percent. The S&P also up about a quarter of a percent. All

of this coming amid reports that Goldman Sachs will lay off around 3,000 employees. The investment bank has been hit by less deal making because of

uncertain economic conditions.

Matt Egan is with me now. Matt, as you know, Goldman Sachs said not long ago that it still believes the US can avoid a recession. And so help me

understand what's driving some of these layoffs.

MATT EGAN, CNN REPORTER: Yes, Rahel, it is interesting to note that the Economics Department at Goldman Sachs has been actually very optimistic on

the economy. You know, they say that they could still get a soft landing here in the United States, they only see a one in three chance of a

recession, and yet, David Solomon, the CEO of Goldman Sachs is going forward with this pretty significant cost cutting.

A person familiar with the matter telling CNN that about 3,200 people at Goldman Sachs are expected to lose their jobs this week as part of this

cost cutting move.

It is no secret that Goldman Sachs, like a lot of other banks on Wall Street, they've been hurt by this slowdown in dealmaking. You know, IPOs,

M&A, SPACs, debt offerings, you name it, all of them have come down sharply.

Goldman Sachs investment banking revenue fell by 57 percent year-over-year in the third quarter. So they are preparing for, you know, the potential

that there won't be a big rebound in deal making, and that maybe there is more trouble ahead in the economy.

So, you know, it feels like, Rahel, every day we are hearing about another round of layoffs. This week, it is Goldman Sachs; last week, Amazon,

Salesforce, Stitch Fix -- so you've got to wonder whether or not we're going to hear from more Wall Street banks that they're planning to cut some

costs, too.

SOLOMON: Right, the week is young, Matt. It's only one day and you know, we've already heard from Goldman Sachs.

Before I let you go, are we learning anything additionally from Goldman Sachs, about whether they are hiring perhaps in other departments? I mean,

is this sort of, you know, a hard stop on hiring, and they're cutting or do we think that this is more department specific?

EGAN: You know, I think they have indicated that they do plan to still add some headcount. They're not freezing hiring all together, but it does send

a pretty significant signal that they are going out and laying off 3,200 workers.

I mean, this is one of the largest, if not the largest round of layoffs at Goldman Sachs since the global financial crisis. So it is certainly a big

deal and difficult times for the people at Goldman Sachs. But we'll have to see whether or not we hear from other CEOs at Wall Street firms that they

plan on doing the same.

SOLOMON: Lots of questions, Matt Egan, good to see you. Thank you.

We have some breaking news now. Buffalo Bills player, Damar Hamlin has been released from the hospital. He collapsed during the game last week against

the Cincinnati Bengals. Doctors say he experienced cardiac arrest. His condition has been improving since, but this is a story that has really

gotten worldwide attention as this fall on the field really shocked and had many questioning what exactly happened and his condition.

And so this is what appears to be a very happy positive update to the story of Damar Hamlin. It is breaking news just into CNN, has been released from

the hospital.

Wonderful news, of course for his fans, his teammates, football players around the world, and of course, his family.

Meantime, hugs and tears of joy across China as the country reopens its borders after three years of COVID-19 lockdowns. The latest from Hong Kong

and a look at what the change could mean for travelers, coming up next.

(COMMERCIAL BREAK)

[15:16:29]

SOLOMON: After nearly three years of COVID isolation, tearful reunions as China's borders were finally reopened.

[VIDEO CLIP PLAYS]

SOLOMON: Mandatory COVID lockdowns and strict border controls had kept people from traveling in or out of China, keeping many from seeing friends

and loved ones throughout the pandemic, but the easing of restrictions commas cases are still spreading around the country.

Officials in China's Hunan Province estimate 89 percent of its 99 million people were infected with COVID just days ago.

Kristie Lu Stout has more.

(BEGIN VIDEOTAPE)

KRISTIE LU STOUT, CNN INTERNATIONAL ANCHOR AND CORRESPONDENT: I'm at Lok Ma Chau Station located in Hong Kong's New Territories, right across the

border from Shenzhen, the Chinese tech capital, and this is the freshly reopened rail crossing between Hong Kong and Mainland China. It had been

closed since February of 2020 due to the COVID 19 pandemic, and it was opened on Sunday and we've been witnessing a steady stream of travelers

coming through.

Now quarantine is no longer a requirement, but a number of pandemic restrictions are in place. For example, the mask mandate remains out in

force. In addition to that, travelers must show proof of a negative COVID- 19 PCR test before their journey, and this is going to be a phased reopening.

You know up to 60,000 travelers can travel each day from Mainland China to Hong Kong and vice versa, from seven different checkpoints including this

one where I'm standing from and the demand has been absolutely huge.

In fact, as of Sunday evening, over 440,000 Hong Kong residents have signed up for a chance to make the journey. And earlier today, we spoke to a

couple of them.

UNIDENTIFIED MALE (through translator): I'm really very happy about the reopening. I'm going to Shenzhen first and then will fly to Chongqing for a

few days. I feel like we are going back to pre-COVID times three years ago.

I will be much happier and life will turn out for the better.

UNIDENTIFIED GIRL (through translator): We are going home. We'll see Grandpa and Grandma. Very happy.

STOUT: The return of cross border travel has raised hopes of rebooting Hong Kong's economy, which was hammered hard due to the pandemic and the

fact that Hong Kong was isolated for nearly three years.

But according to the Chairman of the Hong Kong Tourism Board, it may take one or two years before tourism here returns to pre-pandemic levels.

Kristie Lu Stout, CNN, at the Hong Kong-Shenzhen border.

(END VIDEOTAPE)

SOLOMON: So will business and leisure travelers rush to get into China now that the borders are being reopened and COVID restrictions eased? Our

Selina Wang sat down with the CEO of Trip.Com Group to talk about the possibility of a coming travel boom for China.

(BEGIN VIDEOTAPE)

SELINA WANG, CNN INTERNATIONAL CORRESPONDENT: Since China has announced this border reopening, what kind of trends have you seen for travel

bookings?

JANE SUN, CEO, TRIP.COM GROUP: The pent up demand is very strong. We have seen three digit growth in the search volume for almost all the

destinations in Asia, in Europe, and in America. It is a record high since the outbreak of COVID.

WANG: Capacity for these international flights in and out of China is still very limited. They're still very expensive. When do you see both the

capacity of flights and the pricing coming back to pre-pandemic levels?

SUN: Because the demand is exceeding the capacity right now, we expect that for the first one or two quarters, it will take airlines and hotels some

time to rehire back their staffs and build up the infrastructure. During the second half of this year, hopefully the infrastructure are back to

normal.

[15:20:10]

WANG: And this is also the first Lunar New Year where people can gather with their families without domestic travel restrictions. So, what kind of

trends are you seeing ahead of the Spring Festival?

SUN: We have seen historical record for people to travel to their hometown to reunite with their families.

WANG: What kind of interest has trip.com seen for people trying to get foreign visas to visit China for tourism?

SUN: For the business travelers, they cannot wait. Many people send me e- mails and wanted to schedule meetings already in China.

WANG: More than a dozen countries have put some sort of COVID-19 testing requirements on travelers from China and you even have Morocco

banning all travelers from China.

SUN: People have the money to spend and the wealth to spend. So if one area is not accessible, they will spend money in the other areas.

We have seen that countries which offer free visa, offer China welcome program, normally gets a lot of attractions from the tourists.

(END VIDEOTAPE)

SOLOMON: Meantime, a top official at China's Central Bank says that the country's tech crackdown is coming to an end.

Chinese state media says that the focus is now shifting toward economic growth and the Hang Seng and Shanghai Composite, take a look, both up

today. Alibaba for its part up as well about 3.6 percent there. It stands to benefit from the easing of regulatory pressure.

Beijing made Alibaba's sister, company the ANT Group reorganize forcing founder Jeff Ma to relinquish control. ANT Group says that no one has

overall control of the company.

Paul La Monica is with me now. He is in New York.

Paul, welcome to the show. So this is yet another policy from the Chinese government where it appears that they are prioritizing economic growth. I

mean, you could argue pulling back zero COVID was yet another policy.

I mean, walk me through how significant this could be for the tech industry.

PAUL LA MONICA, CNN BUSINESS REPORTER: This could be very significant, Rahel. I think that investors are betting that Beijing relaxing some of the

stringent rules that they've had in place, not just from the Zero-COVID Policy, but also really cracking down on Chinese tech giants that maybe had

gotten a little too big for Beijing's liking. This is good news.

It is the reason why you're seeing Alibaba rally today on Wall Street, and I think there are hopes that even though Jack Ma has to relinquish control

of ANT Group that this will be done as sort of a quid pro quo. ANT Group asking for permission to raise more capital for its ANT financial unit --

financial services unit, and it looks like Beijing is going to allow that to happen.

So I think investors are pleased by that news, and that is why you're seeing other Chinese tech companies like Baidu and Tencent and JD.com, they

have all rallied so far this year as well.

SOLOMON: I want to circle back to Jack Ma, certainly someone who you could argue has a larger than life personality. This developments now that he

will be stepping away, even more relinquishing more control. What type of knock-on effects do you think that could have even in terms of the

company's future IPO plans?

LA MONICA: Yes, I think we are still, Rahel, waiting to see whether or not ANT Group will be given the greenlight from regulators to go public, but

also, even if they get approval to do so, the other question, perhaps the bigger one is, do you want to go public right now in a time where there

still is a lot of uncertainty about the resurgence of COVID in China, about the possibility of a recession in China and globally?

This may not necessarily be a good time to be trying to raise more money through selling stock. I think ANT Group probably would prefer to see

whether or not the global IPO market, if that window can open up and the IPO freeze begins to thaw, then if ANT Group is given permission to go

public, then maybe they'll have the chance to do so.

They are lucky enough, if you will, to be in a situation right now where you know, they probably wouldn't be going public, even if they were allowed

to anyway, just because the financial conditions don't really warrant it.

SOLOMON: Well, I think that's a great point, Paul, because I don't know if you heard our story a little bit earlier with Matt Egan, but just the

impact of the dealmaking market on Goldman Sachs for example, I mean, deal making has really dried up after what we saw was an explosive year, was it

2019 or 2020, early in the pandemic deal making saw this boom and that's pretty much dried up.

LA MONICA: Yes, we have been waiting for another "unicorn" to go public and really wow Wall Street and we have not have that because the conditions in

the economy don't really suggest that investors would be all that enthusiastic about some of these companies going public.

[15:25:10]

So, you look at Fintech giant, Stripe, you look at Instacart, you look at a company like SpaceX that could potentially wow Wall Street if they go

public, SpaceX being an entirely different animal, of course, because who knows if Elon Musk ever wants to take them public, but those are companies

that if they were to get to Wall Street, and do well, that opens up potentially the opportunity for other unicorns, including Chinese ones to

potentially go public as well.

SOLOMON: But with everything, timing is so important and timing just may not be on ANT Group's side at least right now.

Paul La Monica, good to have you. Thank you.

Well, coming up, more people than ever are driving in style. I will talk to the CEO of Rolls Royce about last year's record sales and the wave of

luxury demand it expects to see this year, coming up.

(COMMERCIAL BREAK)

SOLOMON: Welcome back.

The Eurozone economy is showing resilience despite fears of a looming recession. The latest numbers show unemployment at an all-time low, roughly

six and a half percent in November. German industrial output also picked up. That's an encouraging sign for growth.

Investors in European markets celebrated the news. Germany's DAX finished the day more than one percent higher. Also exchanges in France,

Switzerland, and the UK also rose.

All of this good news for the luxury automaker, Rolls Royce. The company is riding a wave of demand for luxury goods. The carmaker announced that it

had its best year ever in 2022, selling just over 6,000 cars costing on average more than half a million dollars per car.

Sales were led by the US followed by China, and its reopening, China's reopening could revive dormant demand.

Torsten Muller-Otvos is the CEO of Rolls Royce Motor Cars and he joins me from Goodwood in England.

Sir, good to have you, welcome to the program.

TORSTEN MULLER-OTVOS. CEO, ROLLS ROYCE MOTOR CARS: Yes, thanks a lot, Rahel. Great to be with you.

SOLOMON: Yes. Wonderful. So congratulations on the record year. Help me understand what led to that increase demand in 2022? What led to that

record number of sales?

[15:30:12]

OTVOS: I mean, first of all, we are here talking about a very strong and resilient brand, it's Rolls Royce, well known over the entire world. We

have quite successfully rejuvenated the brand over the last 10 years, then we also have quite an attractive portfolio on our hands and clients love

Rolls Royce. And then on top comes that the entire luxury market be a jewelry fashion, watches was in high demand over the last years.

And I think that also helped quite a lot. We have basically seen all markets, as you stated in the beginning, on very high record levels. Only

China was slightly behind where it used to be due to the circumstances around COVID, obviously, but still a second-best year ever in China as

well. So, I mean, I'm very satisfied as you can imagine.

SOLOMON: I bet. And in the U.S., your largest market, help me understand. Who is your consumer? Are these younger entrepreneurs who suddenly have the

cash in the wealth to spend? Who is your key demographic in the U.S.?

OTVOS: Yes. I think that's very well described. I mean, I said a minute ago that we have rejuvenated the brand quite massively, we have now an average

age of 42 worldwide, which is really mind boggling. It's even younger than a mini brand, for instance. And -- I mean, that is not only due to Asian

clients, but also very much United States of America's clients who are getting younger and younger.

And I think that also underlines that shift from being chauffeur to being behind the wheel. Younger ones are now able already in early ages to

accumulate quite some fortune, and to run a proper business far easier than it might have been 15 years ago, where you needed to have real estate or

investments into machinery and so on. So, I think that demographic change within the ultra-high net worth individuals also underlined our success in

a way that far more younger ones are now belonging to this group of ultra- high net worth individuals as ever before.

And that is exactly reflected also in our average age profile. So, it is very much on spot on with how the ultra-high net worth individuals

developed.

SOLOMON: Yes. Average age of 42 certainly is interesting. And how do you do it? I'm sure it's a complex process. But how do you rejuvenate that brand

to make it more attractive to a younger audience? Because I'm sure a lot of wealthy luxury brands would love to be able to simulate what you've been

able to do. So, help me understand what are some of the things that go into that?

OTVOS: I think, a multiple set of factors, let's say relevant for doing that. One, obviously, is that you need to shift the brand from time to time

and acquired, I would call it even dramatic way to overcome maybe an even older or more older image. For instance, we have introduced years ago Black

Patch, as one I would call it now alter ego more menacing, bolder version of a Rolls Royce that resonated extremely well with our younger clients

worldwide.

Then obviously, we introduced also the right product. It started with Wraith (INAUDIBLE) then later followed by Dawn, the beautiful convertible.

Then Cullinan gave the brand a complete new cachet of being very relaxed, easy to drive, casual kind of Rolls Royce. And yes, now comes the next

stage. And the next stage is us going electric with the car you see behind me. And that is Spectre.

So, I think we are on a very good path here to keep the brand highly relevant for our target group worldwide.

SOLOMON: And as I understand the demand for the Spectre is also quite strong. Sir, before let you go, any signs of a slowdown? And if not, at

least coming off the back of this record year, what does keep you up at night looking into 2023?

OTVOS: Obviously, what happens to the world keeps me awake because many things are happening currently. And also, the changes are happening quite

quickly. For that reason, we are not immune against any recessionary tendencies worldwide. So, we are watching that very carefully what happens

here. And that allow me to say keeps me awake from time to time to see certain things happening which might be causing some concerns for our

business.

But so far, I'm really pleased to see that, we haven't seen a single cancellation of orders. Our order book is very strong reaching far into

2023. And particularly in the United States, America is in total. It's a very, very strong market for us and continues to be a strong one, or the

inflow is strong and I think it's great. America is now 35 percent of our total worldwide business and that's quite a success story.

[15:35:04]

SOLOMON: Yes. Quite impressive. And I'm sure a lot of automakers would love to be in the seat that you are currently in. We'll leave it here, sir.

That's Torsten Muller Otvos. He's the CEO of Rolls Royce.

OTVOS: Thank you.

SOLOMON: Thank you, sir.

And there's an explosive time for Britain's Royal family with Prince Harry's memoir spare set to hit bookshelves in just a matter of hours. A

slew of blockbuster excerpts from the book have already made headlines. And Harry of course, has given several interviews to several media outlets. Now

one of the most shocking bits, Harry's description of Queen Consort Camilla as a "dangerous woman" who sacrificed him and his wife Meghan to the

British press in an effort to try to rehabilitate her own image.

CNN royal correspondent Max Foster has a preview of the book. Max, so much to talk about here. I mean, one thing that struck me was just how damaged

the relationship has become between Harry and his brother and Harry and his father.

MAX FOSTER, CNN ROYAL CORRESPONDENT: And it's not going to get any better when you consider that the monarchy, the family have spent the last 20

years trying to rehabilitate Camilla's image together, ready for this position, the Queen Consort, Queen Elizabeth II was very much part of that

as well. And then incomes Harry saying she's dangerous, and she's been leaking stories. So that was a big criticism.

But he also points out that he didn't want to hurt anyone in the family. This is just about him, telling his truth.

(BEGIN VIDEO CLIP)

PRINCE HARRY, DUKE OF SUSSEX: I love my father, I love my brother, I love my family, I always will always do. Nothing of what I've done in this book

or otherwise has ever been any intention to harm them or hurt them.

FOSTER (voice over): Prince Harry justifying his bombshell expose a of the royal family. The latest revelation that Camilla, the Queen Consort, leaked

stories in a campaign to be queen.

PRINCE HARRY: With a family built on hierarchy and with her on the way to being Queen Consort, there was going to be people or bodies left in the

street because of that.

FOSTER: Then there was the family's distrust of Meghan.

PRINCE HARRY: She's changed. She must be a witch.

FOSTER: Prince William and Kate didn't get on with Meghan, from the get go, he says.

PRINCE HARRY: Some of the things that my brother and sister know some of the way that they were acting or behaving definitely felt to me as though

unfortunately that stereotyping was causing a bit of a barrier to them really sort of introducing or welcoming her.

FOSTER (on camera): What do you mean specifically?

PRINCE HARRY: Well, American actress divorce, biracial, there's all different parts to that and what that can mean but if you are, like a lot

of my family do, if you are reading the press, the British tabloids at the same time as living the life, then there is a tendency where you can

actually end up living in the tabloid bubble rather than the actual reality.

FOSTER (voice over): He said he never accused the family of being racist when he and Meghan previously said someone had commented on their son's

skin color. He also admits to being naive about the way his family would be treated.

PRINCE HARRY: What Meghan had to go through was similar in some part to what can -- what Camilla went through. Very different circumstances. But

then you add in the race element, which was what the press -- British press jumped on straightaway. I went into this incredibly naA_ve. I had no idea

that British press was so bigoted. How I was probably bigoted.

FOSTER (on camera): You?

PRINCE HARRY: Before the relationship with Meghan.

FOSTER (voice over): The Duke of Sussex says his relationship did alter him, but for the better.

PRINCE HARRY: Yes. I did change. I'm really glad I changed because rather than getting drunk falling out of clubs taking drugs, I have now found the

love of my life.

FOSTER: Harry says he doesn't speak to his father or brother anymore. He was denied a seat on the plane to Scotland with them when Queen Elizabeth

died. So, has he burnt bridges with the rest of the family completely after sharing even more secrets?

PRINCE HARRY: Well, they've shown absolutely no willingness to reconcile up to this point. And I'm not sure how honest is burning bridges. Silence only

allows the abuser to abuse, right? So, I don't know how staying silent is ever going to make things better.

(END VIDEO CLIP)

FOSTER: The book isn't even on sale would you believe yet, Rahel, this is all from, you know, previews and leaks. So, we have had a chance to read

the book today. But there's another big interview tomorrow night as well on the late show.

SOLOMON: We'll see how sales do. Max, just really quickly, if you might. Any sense of -- is the public appetite for the stories from Harry and

Meghan, is it still high or is it waning?

FOSTER: I don't know. I think it really does depend where you are, who you identify with, what side you're on. I think for real royal fans, there's

loads of detail in the book, which is absolutely fascinating lifting the lid on the mystique behind palace walls, but I think a lot of people feel

it's got too detailed as well. Getting a bit grubby. It feels like a celebrity story now, not the reason they got involved in the real story in

the first place which is a more reverential story for many people.

But it just depends where you're coming from and which issues the couple have tapped into that resonate with you.

SOLOMON: Royal correspondent Max foster. Thank you.

[15:40:06]

And also, tune in later for special report on Prince Harry's accusation against Britain's Royal Family and other details from his book. That

special includes Anderson Cooper's conversation with the prince for Sunday's edition of 60 Minutes on CBS. CNN A.C. 360 Special, The Hairy

Interview. That airs at 8:00 p.m. Monday on the U.S. East Coast right here on CNN.

And that is QUEST MEANS BUSINESS. I mean time we'll be back at the top of the hour as we make a dash for the closing bell. Up next, Connecting

Africa.

(COMMERCIAL BREAK)

[15:58:38]

SOLOMON: Hi, I'm Rahel Solomon and this is the dash to the closing bell and we are now just two minutes away. Wall Street is set for mixed finish after

giving up early gains. The Dow did get off to a strong start and then fizzled as we can see it is now down almost 100 points there. The other

averages are also off session highs as well. The S&P is off, we'll call it about flat. The Dow is off three-tenths of one percent.

But take a look at the NASDAQ, it's now off about half a percent. You might remember earlier in the show, it was up about one percent. So, off of that

high.

And if you can afford a Rolls Royce, you're probably not too worried about high inflation. The carmaker CEO says that high demand for luxury goods is

just one reason for its record sales.

(BEGIN VIDEO CLIP)

OTVOS: We have quite successfully rejuvenated the brand over the last 10 years. Then we also have quite an attractive portfolio on our hands and

clients love Rolls Royce. And then on top comes that the entire luxury market via jewelry, fashion watches was in high demand over the last years

and I think that also helped quite a lot. We have basically seen all markets as you stated in the beginning on very high record levels.

(END VIDEO CLIP)

SOLOMON: Let's take a look a bit deeper into the Dow. The Dow components. Salesforce looks to be on top up over four percent. We're now we're looking

at the triple stack but Salesforce was up about four percent. That's after CEO Marc Benioff hinted at some deeper layoffs.

[16:00:01]

And speaking of layoffs, Goldman jumped well over one percent as it prepared to layoff over 3000 people this week.

And that is your dash to the bell. I'm Rahel Solomon. The closing bell is ringing on Wall Street. And "THE LEAD" with Jake Tapper starts right now.

END