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Quest Means Business
Harris To Take Questions From Voters At CNN Town Hall; John Kelly: Trump Fits Fascist Definition, Praised Hitler; US Markets Pull Back From Record Highs; Spain Among Fastest Growing Economies In The Eurozone; McDonald's Responds To U.S. Food Safety Alert. Aired 4-5p ET
Aired October 23, 2024 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:05]
RICHARD QUEST, CNN INTERNATIONAL HOST, "QUEST MEANS BUSINESS": Closing bell ringing on Wall Street. Look away if you are of nervous disposition. The
Dow Jones is down quite sharply, it has been down all day. No particular reason that old chestnut profit taking. We've had been on such a tear.
Let's see what sort of gavel were going to get.
Let's see. One, two, three. Firm, steady, not terribly exciting, but that will do for today because those are the markets and these are the main
events of the day.
A window into who Donald Trump really is, that's how Kamala Harris describes it after Trump's former chief-of-staff says Trump meets the
definition of a fascist.
Gold prices at record highs and there are worries it signals a fracture in the global financial system. Mohamed El-Erian is with me tonight.
And that E. coli outbreak at McDonald's, Micky D's tries to reassure customers it is safe to return.
It is safe to stay with me for the next hour, I hope. Live from New York on Wednesday, October the 23rd. I am Richard Quest, in New York as elsewhere,
I mean business.
Good evening.
Five hours from now, Kamala Harris will take that stage in Pennsylvania where she will answer questions, it is our CNN town hall.
Harris spent much of the day though responding to new allegations against her opponent. This is the story: Donald Trump's former chief-of-staff told
"New York Times" that Trump prefers the dictator approach to government and John Kelly's accusations arguably got much worse.
(BEGIN AUDIO CLIP)
JOHN KELLY, FORMER WHITE HOUSE CHIEF-OF-STAFF: Certainly, the former president is in the far-right area, he's certainly an authoritarian,
admires people who are dictators -- he has said that. So, he certainly falls into the general definition of fascist, for sure.
He commented more than once that, you know, that Hitler did some good things, too.
(END AUDIO CLIP)
QUEST: Now, Harris wasted no time jumping on those comments and gave this warning as she left her residence this morning.
(BEGIN VIDEO CLIP)
KAMALA HARRIS (D), VICE PRESIDENT OF THE UNITED STATES: Donald Trump is increasingly unhinged and unstable. And in a second term, people like John
Kelly would not be there to be the guardrails against his propensities and his actions, those who wants tried to stop him from pursuing his worst
impulses would no longer be there and no longer be there to rein him in.
(END VIDEO CLIP)
QUEST: Now, Kamala Harris got a boost her campaign today, 23 Nobel winners signed a letter calling her economic plan vastly superior to Trump's.
That's more than half of all living US recipients of the Nobel Economic Prize.
The letter says -- I've got a copy here: "We believe that overall, her agenda will improve our nation's health, investment, sustainability,
resilience, employment opportunities..." et cetera, et cetera.
And it goes on to call Donald Trump's plan counterproductive.
Jeff Zeleny is with me.
We have much to chew over, Jeff.
I will put the economists to one side because although arguably, you know, that sort of important, but this business about Hitler and the generals and
whether or not he did admire -- Donald Trump did admire Hitler's generals.
Now the campaign says it's a lie. He never said this. But John Kelly is a man of great respect and I mean, it doesn't come much bigger and better.
JEFF ZELENY, CNN CHIEF NATIONAL AFFAIRS CORRESPONDENT: Richard, I mean, it is clearly something that you have to weigh. Who do you believe? Do you
believe General Kelly who has been one of the longest serving -- he had a ringside seat to Donald Trump, not only as his chief-of-staff, but also as
a secretary of Homeland Security.
And he of course, is speaking out before the election because he has been well on record that he does not believe that Donald Trump is fit for
office.
The Trump campaign does push back on this, but it certainly fits in with a pattern of thinking of the former president. Politically speaking, the
question is, does it matter? Is there anything at this point that could be reported, revealed, or learned that would pry Donald Trump's supporters
away from him. I think not.
The question, of course, are those slim number of voters in the middle. That of course is who Vice President Harris is trying to reach. Twice, she
is doing a town hall here in a key area of Pennsylvania this evening on CNN. It is why she is trying to keep Trump's own words front and center in
her own campaign.
She spoke earlier today as you played there, she said that Donald Trump is unhinged.
[16:05:10]
She says that at every stop, the question is anyone listening or does -- are people's minds hardened here? So again, all of these reports, I am sure
there will be more, unclear if any of that will change the political nature of this campaign.
QUEST: Jeff, that is certainly true. But what I think is outside of the United States, that people find difficult to understand and you can perhaps
help us weave -- pardon the phrase -- is the -- this idea that nearly 50 percent of the population are sticking with him or the voting population
according to the polls, are sticking with him despite this thing about Hitler's generals, admiring this and sort of numerous Nobel economists
saying the man is a danger to the economy.
How do we square that circle that there are so many?
ZELENY: You square that mainly because at this point of a campaign, people put on their own jerseys. It is very tribal. Republicans will vote the
Republican ticket. They may not like everything Donald Trump says, some are voting on tax policy, some are voting because of abortion policy. They
believe that Donald Trump is more aligned with them.
As we travel across the country, as we've been doing throughout the era of Donald Trump, it is actually difficult outside of his rallies to find
Republicans who agree with everything he says, but they are willing to sort of make a bargain and sort of rule out the oh, that's just Trump being
Trump and they like the Republican policies.
So the challenge for Vice President Harris is to sort of win over some of those in the middle, and there are many Republicans, I cannot recall a
campaign where there are as many Republicans supporting the Democratic nominee, from the Cheneys, to all the people who worked around the former
president, it is just extraordinary.
The question is, does it matter? I don't know if it will or not. It gets down to people are just voting because they believe that Trump is strong,
but Harris also has a lot of support. This is a deadlocked race. There is no doubt about it, in seven states, and there are two weeks' time for both
sides to try and move the needle.
QUEST: The problem of course, is and I don't want to force the issue. We will find out when the great electorate speaks, but the problem is this
close, it is highly -- I assume for the purpose of this argument or this question that Trump loses, it is highly, highly unlikely he will go quietly
into this good night.
ZELENY: I'd say it is very likely that he will not go quietly should he lose. Of course, we do not know if he will lose, but should he, they are
already laying the groundwork for it being rigged and we are already seeing the lawsuits in various states.
So, the question is, if he wins, my guess is all of that will go away and the Democrats will not make quite the same kind of argument, but no, of
course he will not accept a loss. They are of course, trying to avoid a loss, but that is one reason why I believe that November could be even
potentially more chaotic or wilder than October -- Richard.
QUEST: Jeff, you will be there. You're in Pennsylvania tonight. What are you most looking forward to in the town hall?
ZELENY: Well look, I think sometimes individual questions from voters, there will be voters who are persuadable and undecided. Sometimes they ask
very top of mind things, not just talking points.
So if the vice president gets off talking points and actually has a real moment, if you will, that will be interesting to look at, but just her
filling in the gaps as she continues to try and make the sale here.
She has not made the sale as much as some Democrats wish she would have. But again, this is a dead even race. It certainly was not several months
ago when Joe Biden, who is from this area, Delaware County here, was running against Donald Trump.
QUEST: Jeff, I am grateful. Thank you, sir.
The presidential town hall is moderated by Anderson Cooper. Of course, it is here on CNN, 9:00 PM Eastern. That's 2:00 AM London, 3:00 AM Central
European time. And of course, it will repeat and you'll be able to catch it online as well.
Now, just in to CNN, the Department of Justice has warned Elon Musk that his million dollars giveaway may be illegal according to those who know
about these things. Musk has been awarding registered voters in battleground states who sign his petition. One of them gets a million bucks
a day.
Sources say the initiative may run afoul of laws that prevents people being paid to register to vote.
Trump's campaign is accusing Britain's Labour Party of breaking US law by helping Kamala Harris. Some Labour activists have traveled to the United
States where they are helping her and that in and of itself is not illegal. The FEC says foreign nationals can volunteer as long as they're not
compensated.
The Trump campaign is suggesting that Labour activists did get something in return.
[16:10:10]
Exactly what CNN Max Foster reports.
(BEGIN VIDEOTAPE)
MAX FOSTER, CNN ROYAL CORRESPONDENT (voice over): With the US in the midst of election fever, controversy has spread across the pond to the UK.
It started with a post on LinkedIn, the head of operations for the country's ruling Labour Party in a post now deleted, calling for volunteers
to "head to the battleground state of North Carolina." Adding that the party will "sort out housing."
That sparked the Trump campaign to file the complaint with the Federal Election Commission in Washington accusing the party of "blatant foreign
interference" calling for an investigation into what it termed apparently illegal contributions from the Labour Party to the Harris campaign.
On Wednesday, the UK prime minister and leader of the Labour Party sought to play down the allegations, telling reporters that Labour volunteers had
campaigned in almost every US election.
Members of his party told the UK press on Wednesday --
STEVE REED, BRITISH ENVIRONMENT SECRETARY: It is up to individuals if they want to use their holiday to go and campaign for a party, assist the party
in another country. People are free to do that. It is not against the law here, it is not against the law in the United States, but it certainly
wasn't organized by the Labour Party itself.
FOSTER (voice over): And at Prime Minister's Questions on Wednesday, the UK's deputy prime minister defended the move.
ANGELA RAYNER, BRITISH DEPUTY PRIME MINISTER: People in their own time, often go and campaign and that's what we've seen. It happens in all
political parties, people go and campaign, and they do what they want to do in their own time with their own money.
FOSTER (voice over): There is irony in the accusation though. Donald Trump has himself received glowing endorsements from UK politicians on the other
side of the political spectrum, including former Prime Minister Liz Truss, and most notably the leader of the UK's right-wing Reform Party, Nigel
Faraj, and that leaves a big question, could this affect the so-called special relationship between the UK and the US if Donald Trump is the next
president.
QUENTIN PEEL, ASSOCIATE FELLOW, CHATHAM HOUSE: Donald Trump is a very unpredictable person who is very concerned about his personal image and his
personal relationship. The trouble is, I think that this British government, the Labour government now and Sir Keir Starmer, are really
quite worried about what their relationship will be like with a future Trump administration.
FOSTER (voice over): Former President Barack Obama and rapper, Eminem took to the stage on Tuesday night for Kamala Harris, a mic drop endorsement by
the rapper, but it beats not heavy enough to outshine Keir Starmer's transcontinental controversy.
Max Foster, CNN London.
(END VIDEOTAPE)
QUEST: To the markets. I've told you before we started or as we started, they were sharply lower. All the major indices were down at one percent. In
fact, pretty much across the board. The NASDAQ was the worst of all, as you would expect. And it is our old friend profit taking and it is not
surprising, don't get panicked.
There have been such sharp gains on the market that it is not surprising people are taking some profits off the table.
Gold touched an all-time high on Wednesday and then just eased off. Gold is up more than 30 percent this year.
Now, Mohamed El-Erian has a warning about those gains. He says that the rise is unusual given the strong stock market and we should take note of
this.
Mohamed, I never thought of you as a gold bug. I never thought of view as one of those people who sort of got all hot under the collar about gold.
But when I read your article, you're suggesting that actually this is telling us something wider about what is happening in the economy
structurally.
MOHAMED EL-ERIAN, ECONOMIST AND ADVISOR, ALLIANZ: Yes, Richard, I am not a gold bug. In fact, I don't own any gold unfortunately, given the 30 percent
plus gain.
What is happening is that the movement in the gold price has decoupled from these economic and financial influences. There is something else going on
and what is going on has a geopolitical angle to it that is overwhelming the economics and finance.
QUEST: Why should gold though -- because the argument, the traditional argument is that in the last bastion of disaster and catastrophe, you've
got gold that you can sell, so what is happening?
I understand geopolitical risk, but normally the dollar would benefit similarly at the same time, we are not seeing that. So what are people
frightened of here?
EL-ERIAN: So first of all, who is buying the gold.
QUEST: Right.
EL-ERIAN: It is foreign central banks. Foreign central banks are trying to diversify their reserves away from the dollar. It is part of a broader
phenomenon where we are seeing little pipes being built around the dollar at the core of the system.
[16:15:06]
Those little pipes are not just reserved diversification, the alternative payment system, the alternative regional arrangements, and the alternative
institutions.
So, led by China and some other countries, you are seeing this little pipes being built, and then we have the peculiar example of Russia.
Most people thought that with massive sanctions on Russia and with Russia thrown out of the SWIFT dollar system, the economy would collapse. It
hasn't. Russia has been continuing to trade. And what Russia has done, it has built a system that includes four or five other countries. That's
clunky, that is inefficient, but that totally bypasses the dollars, so you have all of these things coming together, Richard.
QUEST: But then you take gold per se, how do you access that as an asset class other than putting it under the bed or having ingot or central banks
who have deposited at depository institutions.
Once you've got it, what are you going to do with it?
EL-ERIAN: So first, individuals can access it, there are gold ETFs that allow you to access it just like you access other stocks and bonds. What do
you do with it? And that was the argument.
Remember you had Warren Buffett saying it is a complete wasted asset but yet, its price keeps on going up, and that is why I am saying what is going
on here is something to pay attention to. National Security apparatus should be paying attention to it because it goes beyond just market forces.
It is something that speaks to people trying to decouple from a dollar- based system.
And that is because people have lost trust in the ability of the US to be a responsible steward of the international system.
QUEST: If we look at, since I have you, pardon the phrase, if we look at the IMF's WEO, it is hardly the most exciting one this time around. I mean,
let's -- you know, I think we both had more exciting moments, but it does - - this idea that inflation job done, nothing to see here, move further along. Do you buy that?
EL-ERIAN: I do buy that we are no longer going to see the very high inflation that peaked at nine -- over nine percent for the global economy,
but I don't buy that the inflation monster is completely conquered.
If we retain two percent inflation targets, which we will for a while, then the so-called last mile is going to prove quite tricky and it has proven
quite tricky for the US in particular. This is mainly a US problem.
QUEST: You don't believe that they're going to hit two percent, do you, anytime soon? I mean, you're sort of comfortable with this idea -- 2.3, 2.4
-- what's a couple of bit between friends?
EL-ERIAN: Correct, because I don't think you destabilize inflation expectations. I think that we can live with slightly higher inflation. In
fact, I believe and that is just a hypothesis which is that, if central banks could specify the inflation target today, they will specify two-and-
a-half to three rather than two.
QUEST: Final question, Mohamed, you can plead the fifth on this. I will let you do that.
I am going to give you a million in value, million dollars in value. You can have it in crisp 100 bills, or you can have it in gold. Same value --
as of today, it will be the same value, a million in gold or a million in crisp bills, which will you take?
EL-ERIAN: Am I investing it?
QUEST: Why do you always have to ask the right question that makes my -- yes.
EL-ERIAN: If I am spending it --
QUEST: Yes.
EL-ERIAN: If I am spending it, I wouldn't have gold. Gold is not a currency. Gold is a store of value. If I am investing it, I would probably
have gold up to about five percent of that million and I am happy for you give me the million and we could experiment.
QUEST: That's why we love having you on the program. As they say that famous line, the check is in the mail, Mohamed El-Erian. I am very grateful
to you. Thank you.
EL-ERIAN: Thank you.
QUEST: There we go. We are going to be in Turkey. We are going to talk about an attack in Turkey. It is a nasty aerospace attack that's left
people dead and there are gunshots and the picture show explosions and we will talk about it after the break.
QUEST MEANS BUSINESS.
(COMMERCIAL BREAK)
[16:22:01]
QUEST: Now it has been revealed that our chief international correspondent, Clarissa Ward, her producer and her cameraman, were held captive for two
days while on assignment in Sudan recently.
It happened earlier this month. They were in North Darfur on their way to Tawila. The city has become a refuge for people trying to escape the
violence from the country's Civil War.
Clarissa has written about the whole experience in an article on cnn.com that you'll be able to read and Clarissa is with me now, from London.
Obviously, we are, I mean, thank God you and the team are safe. But it is a risk you all took because this is the forgotten war. I mean, God help me
for saying in those terms. But you know what I mean?
This is the forgotten war that is just getting worse.
CLARISSA WARD, CNN CHIEF INTERNATIONAL CORRESPONDENT: There is no question, Richard, that the conflict in Sudan has been overshadowed by Ukraine, by
Gaza. But when you talk to the UN, when you talk to aid workers, they will say by the numbers alone, Sudan is the world's worst humanitarian crisis.
And Darfur, in particular, all eyes are on it at the moment.
There was a genocide that was perpetrated there between 2003-2005. We have seen vicious war crimes taking place that are really heightening fears that
you could see the worst being realized once again in Darfur. On top of that, you have huge displacement, heavy fighting, the spread of disease,
and in August, a famine declared in the Zamzam Displaced Peoples Camp outside of the besieged city of El Fasher.
And Tawila, the town that we were trying to get to is just a few hours away from El Fasher, from Tawila. Almost no international journalists have been
able to get in on the ground, the two main warring factions, simply not giving permissions to journalists and so that has made it next to
impossible to effectively report on this crisis, Richard.
QUEST: But what are they fighting over? There is nothing there -- I mean, yes, there are minerals and oils and arguably you'll say that is what they
are fighting over because that is where the wealth is.
But the people are unbelievably poor. They are the poorest of the poorest. There is nothing that other than the ability to rape and pillage the
country, both and its people. I mean, is that what they are fighting over?
WARD: They are fighting for land, they are fighting for power. They are fighting for influence. And, you know, when we talk about this famine that
was declared in August, Richard, the UN has said, this is a man-made famine. There is no excuse, no reason.
We were there at the very end of rainy season. The fields looking green. If this harvest goes ahead as it is hoped, it will, that should do something
to at least alleviate the specter of that famine broadening.
But if we continue to see an uptick in the violence that we have been seeing already just in the last two weeks, according to the Yale
Humanitarian Research Lab, the RSF or Rapid Support Forces, one of the main warring factions setting ablaze at least 14 villages in Darfur, then of
course, you have the very real possibility that these man-made famine will continue to spread and get worse -- Richard.
[16:25:23]
So you and the team are held for two days. I've heard the descript -- your description. I've read your description of you under trees and you were not
harmed. But the very fact of being detained is a horror in itself. How are you all?
WARD: We are all fine. It was absolutely a stressful ordeal. All of us, I think were very much fixated on our families back home and how stressful
this must be for them and it weighs on you not having information, not knowing when you might be able to get out, when you might be able to cuddle
your kids again.
As the only woman, I was very mindful of restricting my food and water intake because there was no private place where I could relieve myself.
At the end of the day, we got out after two days. We came back home. We are safe and we are with our families and as journalists, it is so cringe-
inducing, honestly, Richard to become the story. But we felt it was really important to share our experience because it does touch on the broader
themes and challenges of covering this conflict, but also of the complexity of the situation in Darfur, the difficulty of getting aid in, the
difficulty of Human Rights organizations getting in and getting the stories out of the people of Darfur that deserve to be told and that the world
needs to hear.
QUEST: I mean, we are in your debt as always, not only for getting to the nice places, but going to the places that the stories need to be told. And
I am grateful that you and the team are safe. Thank you, Clarissa.
WARD: Thank you, Richard.
QUEST: Excuse me.
Now, Turkish officials, say at least five people were killed in a terror attack on the outskirts of Ankara.
Surveillance video shows two assailants outside Turkey's state run aerospace company both appeared to be holding rifles. No groups claim
responsibility.
Salma is with me. Salma Abdelaziz, do forgive me, Salma.
(BEGIN VIDEOTAPE)
SALMA ABDELAZIZ, CNN CORRESPONDENT: Turkey is reeling after attack on an aerospace company just on the outskirts of Ankara, the capital. We do have
social media video to show you of the moments of this attack.
It has been geo-located and verified by CNN. And in this video, you can see a huge explosion. You can hear the sound of it as well, and then you can
see that plume of smoke going up in the air and then an individual appears who is carrying or looks to be carrying a weapon. You can hear the sound of
gunfire ringing out.
Now images like this absolutely sent shockwaves across Turkey. It is no stranger to terror attacks, but it hasn't seen one like this in recent
years. Authorities say that two assailants, two attackers were killed, a man and a woman and that a judicial investigation is underway to identify
those who are behind this attack.
Now, the location is extremely significant. This aerospace firm is state- owned. It also provides military supplies, drones, airplanes to Turkey's military. One analyst described it as the crown jewel of Turkey's defense
industry.
President Recep Tayyip Erdogan has issued his condolences to those who were killed and said the attack targeted the survival of the country and the
peace of our nation.
Salma Abdelaziz, CNN, London.
(END VIDEOTAPE)
QUEST: Spain's economy is on track to outpace its European neighbors this year. There is plenty for this man to worry about, tourism, for example,
trade wars, EU dissension. That man is Carlos Cuerpo. He joins me next. He is as the economy minister of Spain.
In a moment.
(COMMERCIAL BREAK)
[16:32:22]
QUEST: In the European economic race, Spain is quickly outpacing its neighbors. The IMF says Spain's GDP will grow 2.9 percent. Might as well
three. And it puts it well ahead of the Eurozone and on par with the United States.
Tourism has a lot to do with this growth and at the same time has sparked plenty of unrest. This weekend, for instance, in the Canary Islands, where
the latest to denounce mass tourism. They claimed it's the housing market and the environment, the double-edged sword that our next guest is only too
well aware of.
The Spanish economy minister is Carlos Cuerpo. He joins me now from Washington.
It is a double-edged sword, isn't it, Minister? Because your tourism is such a fundamental part of Spain's economy but at the same time it faces
the greatest challenges of over-tourism and climate.
CARLOS CUERPO, SPANISH ECONOMY MINISTER: Well, thanks a lot. First, let me put a bit of context into these excellent figures of Spanish growth going
forward. You said it yourself. The IMF has foreseen Spain to lead over the euro area, not only in 2024, but also looking forward. So in the medium
term we'll also be outpacing our main neighbors, and this is actually excellent news for the Spanish economy and for the interest it can yield in
terms of investors.
But when it comes to the main determinants, tourism or the external sector is one, but just let me give you another figure which is known tourism
services, which are services for firms. High value added services, they amount to around 100 billion euros, while tourism amounts to around 90
billion. So it's not just tourism. Tourism is an important factor, but it's not just that.
QUEST: Looking at your exports, for example, whether it be refined petroleum, olive oils, medicines, manufactured goods, how concerned are
you? You're in Washington, the election is in 10 days. I know you're not going to get involved in that, but if one particular candidate wins, you
could expect to face tariffs, higher tariffs, than if the other candidate wins. How worried are you?
CUERPO: Well, first let me say that the U.S. is a natural ally of the E.U. and of course of Spain as well, and what we expect is that irrespective of
the results of the elections, we can maintain these strategic alliance and these very close ties with respect to the U.S. Of course, going forward,
the E.U. has to find its own way towards these economic security agenda. But we hope that it's going to be hand in hand with the U.S. of course.
QUEST: This -- the requirement for immigration and a labor force, Spain is somewhat unique amongst the European colleagues and that you do require a
higher, to a sense, level of a workforce, of a migrant workforce.
[16:35:12]
And I'm wondering whether you find yourself at odds with other European countries on the immigration question at the moment.
CUERPO: Well, I just have to say one specific word on that is that immigration has proven to be another very positive factor in our growth
figures. We have seen that over the past few years and going forward Spain as other advanced economies will suffer from aging of our domestic
population and we will need to be able to maintain growth, constant flows of migration. We've been having around half a million net migrants per year
since 2021. And this has been, as I said, support for our growth figures.
They're contributing also to the sustainability of our fiscal figures as well. So they're being an active part of our great economic performance. So
this is how we square out the circle as well. There is an endogenous, virtuous circle here between growth and the incoming of migrants, which are
actually producing and contributing to our growth figures.
QUEST: Do you think Spain is the sort of the quiet sleeping giant almost? And it's not even sleeping anymore. It's sort of waking up. I mean, we
always focus on, if you will, the big two, Germany and France, and then sort of Italy comes along because it sort of shambles along in Various
government changes, and blah, blah, blah. But Spain is actually one of the principal engines of growth within the E.U. that doesn't really get the
full credit.
CUERPO: Well, as you said before, Spain will be the leading advanced economy in terms of growth in 2024. And there is another element which I
think is a good proxy for the overall situation now in Spain. When you look at 2023, we were the number one country in the world in terms of new
greenfield investments. So new investment projects in renewable energies. So Spain is really modernizing its economy with this green agenda as a key
competitiveness factor going forward. And this is attracting a lot of interest, particularly when you couple it with a very good economic
outlook.
QUEST: We need to talk more about this, sir, but I think we're better off doing it in Madrid or somewhere nice in Spain where we can chew over these
good economic numbers. I'm sure you agree. Look forward to doing that in the future, sir. Thank you.
CUERPO: Of course. You're more than invited. Thank you very much.
QUEST: Thank you.
And so to Tesla's earnings. Q3, the profit, it beat expectations thanks to lower costs and higher sales. Now -- look at that. Even I didn't know that
was coming our way. The stock is up 9 percent, which are after the bell 233 earnings per share came a good deal higher. The revenue just short of
expectations. The company has said it expects a slight growth in vehicle deliveries this year.
I tell you this wither Tesla that people keep talking about just doesn't seem to follow through when you actually get numbers like that.
And so do McDonald's, we talked about it as we close our program, you and I, last night. It says it's taken steps to contain the E. Coli outbreak
around its Quarter Pounder hamburgers. Joe Erlinger, the president of the U.S. operations, says the Quarter Pounder has been taken off the menu in
affected states. Everything else remains the same when it's safe, he says.
The U.S. health officials say nearly 50 people in 10 states have become sick. It's mostly Colorado and Nebraska. One elder person has tragically
died and the number of cases is expected to rise as the investigation continues.
Meg Tirrell is with me.
Have they got a handle on this? Do they know why and how?
MEG TIRRELL, CNN MEDICAL CORRESPONDENT: Not yet, Richard. They are still trying to pinpoint the culprit here, the source of the contamination with
E. Coli. They are sort of homing in on these fresh slivered onions that are included on Quarter Pounders and McDonald's says that as they continue this
investigation they have pulled those as well as the Quarter-Pound beef patties from stores in affected states.
Here's how the McDonald's U.S. president you were just talking about is trying to reassure folks that it's safe to eat at McDonald's.
(BEGIN VIDEO CLIP)
JOE ERLINGER, PRESIDENT, MCDONALD'S USA: We've taken steps to proactively remove slivered onions, which are used in Quarter Pounders from restaurants
and select states. We also made the decision to temporarily remove the Quarter Pounder from restaurants in select states. It's important to note
that the majority of states and the majority of menu items are not affected.
(END VIDEO CLIP)
TIRRELL: So right now, Richard, they have removed the Quarter Pounder from about a fifth of their stores they said. And they are saying that they
think that this should not continue because they've taken it out of the supply chain.
QUEST: Now obviously somebody has tragically died, but what one always find in these cases that there's usually some underlying medical condition with
that person.
[16:40:02]
By and large, you wouldn't die from this sort of outbreak.
TIRRELL: Typically the case numbers are larger than the number of people who are hospitalized and who died, which is good. I mean, typically when
people get infected with E. Coli they recover on their own within about a week. We have seen 10 hospitalizations here out of a total of known 49
cases and that one death. All we know about that person is they were in Colorado and they were elderly.
We know that one child has developed this hemolytic uremic syndrome, which is a severe kidney disorder that can be associated with E. Coli illness.
And that is worrisome. But typically people do recover from E. Coli and if they do get infected, it takes about four days usually to start to see
these symptoms and they can be severe, you know, these stomach cramps. This is a bloody diarrhea, vomiting, fever.
And so health officials are saying that if folks are experiencing those, they should get care and they should alert the care providers to what they
ate.
QUEST: I'm grateful for your time tonight. Thank you very much indeed for joining us, Meg, on that particular story.
Going to leave you with a look at what's happening with the markets, and how we have finished trade. A bit of a horrible day, frankly, no major
single reason that I can find why we're off over such a large one except the really good gains of the past few weeks and in that environment. I
guess I could -- look, you know, I could arguably say it's the election. It's worries about higher borrowing if Donald Trump wins. It's worries
about uncertainty.
It's worries about this, worries about that, worries about the other. But it's not, I'd just be making it up. The truth is it's just one of those
days -- for this evening.
That's QUEST MEANS BUSINESS. I'm Richard Quest in New York. Whatever you're up to in the hours ahead, I hope it is profitable. Coming up next,
"MARKETPLACE EUROPE."
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