Return to Transcripts main page

Quest Means Business

Macron Names Centrist Francois Bayrou As Prime Minister; Morocco Aims To Build Economy More Resilient To Droughts; American Released From Syrian Prison Handed Over To US; Ukraine: Russian Strikes Cause Widespread Power Outages; Sources: Pelosi In Luxembourg Hospital After Fall On Stairs; OPenAI CEO Donates $1 Million To Trump Inauguration. Aired 4-5p ET

Aired December 13, 2024 - 16:00:00   ET

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

[16:00:06]

RICHARD QUEST, CNN INTERNATIONAL HOST: Closing bell ringing on Wall Street. It has been a down day on the markets. The Dow is off. In fact, it hasn't

been very cheerful over the course of the whole session. If you take a look at what has been on the market, down 85 at the moment, and as the gavel

gets -- let's see what we've got as that gavel -- one, two, oh, there we go. Yes, firm gavels.

The markets are closed. It is ten o'clock here in Morocco. A special edition of QUEST MEANS BUSINESS tonight.

Emmanuel Macron appoints a new prime minister, France's fourth in a year. Francois Bayrou faces the same budget roadblocks as his predecessors.

Celebrations across Syria at the first Friday prayers after the fall of Assad.

And a visit to Essaouira, where the Muslims and Jews have lived side by side for centuries.

Tonight, QUEST MEANS BUSINESS live from Marrakesh in Morocco. It is Friday, December the 13th. I am Richard Quest, in Marrakesh, as elsewhere, of

course. I mean business.

And a very good evening to you, wherever you're joining us. The program tonight comes from Marrakesh in Morocco, a special edition of the program.

I've been here all this week, filming for "World of Wonder," which, of course, you'll see next month, but it has given me the chance to see this

country's lively markets and beautiful ancient sites and we hope to bring some of that to you tonight as well, as well as Morocco's efforts to

modernize its society.

I've been speaking to the special adviser to his majesty, the King of Morocco about this country's place in the region. You'll hear that

conversation within the hour. We will get to all of it, but only after we've dealt with our business and regular news agenda.

And we begin in France, where the new prime minister says it is a moral duty to reduce the country's debt.

Francois Bayrou is a centrist ally of President Emmanuel Macron. He will need the support of a divided Parliament as he aims to pass his budget.

Now, you'll recall it was just a matter of days since his predecessor, Michel Barnier, lost a vote of no confidence. He was trying to force his

own budget through.

But Bayrou must now act quickly if he is going to keep the government open. There are a variety of reports to what happens and procedures if he can't.

CNN's Melissa Bell now looks at the difficulties the new prime minister will face.

(BEGIN VIDEOTAPE)

MELISSA BELL, CNN SENIOR PARIS CORRESPONDENT (on camera): France has a new prime minister, the country's fourth this year.

Francois Bayrou has taken over, named by Emmanuel Macron after the collapse of Michel Barnier's government just nine days ago. It had been the failure

of his government to get through the 2025 budget that had triggered a no- confidence vote, and many of the same challenges are likely to face the new prime minister.

Francois Bayrou, considered a centrist, someone who has been around for decades and who just might be the man to bring together the many disparate

parts of France's political spectrum right now.

FRANCOIS BAYROU, FRENCH PRIME MINISTER (through translator): Faced with such a serious situation, my course of action will be to hide nothing,

neglect nothing, and leave nothing aside.

BELL: A nomination that brings to an end, for the time being, a period of political uncertainty here in France, still, many of the challenges that

were facing Michel Barnier's government will be facing Francois Bayrou, namely, a deadlocked Parliament with three main blocs, none of which have a

majority and all of which disagree on many of the main challenges facing the country.

Still, it is considered that Francois Bayrou may just be the man for the job.

Melissa Bell, CNN, Paris.

(END VIDEOTAPE)

QUEST: Now, as you and I have talked about on several occasions, the political turmoil in France couldn't come at a worse time for the European

Union, bearing in mind, of course, where they cut rates just yesterday.

Now the British economy shrank in October for the second straight month. It caught economists by surprise. Germany, for its woes, it certainly isn't

looking much better. The Bundesbank expects the economy to shrink a fifth of a percent this year. Back in June, it was projecting modest growth.

And of course we had that ECB cut of a quarter point, which of course is merely presaging bad economic time.

Carsten Brzeski is the chief Eurozone economist at ING. Carsten is with me from Frankfurt.

Good evening, sir. Thank you for joining us.

[16:05:07]

The reality is that wherever we look, whether its Eurozone or countries like the UK, things are looking grim.

CARSTEN BRZESKI, GLOBAL HEAD OF MACRO RESEARCH, ING: Good evening. Yes, they do, and we see that actually Europe is somehow heading again to this

winter stagnation, winter recession, and there are a couple of reasons for that.

One is the structural problem of many European countries that have two big industries that is currently facing severe competition out of China, that

is suffering from higher energy prices. So this is also pulling down the entire economic activity. And then we have so much political ruse like you

mentioned in France, in Germany, which is creating additional uncertainty, and we haven't even started to talk about what the next US administration

could mean for Europe when there are tax cuts, when there is deregulation, when there are tariffs, which will all do economic harm to Europe.

So this is clearly a winter stagnation and no real future of a quick rebound.

QUEST: Let's parse this into different bits. The administration in Washington will be very firm. Tariffs, it is going to want changes, it is

going to want Europe to buy more goods.

The problem in Europe is actually getting any form of agreed consensus of how to respond not only to those threats, but to the slowdown.

And I mean, you talk about France, no budget in the near future. Germany with elections next year. In your view, how bad will that stagnation be and

what should the ECB do?

BRZESKI: Well, you just mentioned France and Germany and we know that Europe, without a functioning French-German axis, will go nowhere. So this

also means that we at least have to wait until next summer before we hopefully then have a functioning German government, and probably also will

get new parliamentarian elections, but until then, it will be complete political standstill in Europe.

So which means the heavy lifting will again be on the ECB and I expect the ECB to cut interest rates even further. But what should Europe do? They

should not only watch the ECB. We have to plan.

Mario Draghi presented in September a big plan how to restore competitiveness via reforms, via investments and I always have to think

about Jean-Claude Juncker, who I think 10 years ago said during the Euro crisis that all government leaders know what to do, but they simply don't

know how to get re-elected, if they did, what had to be done.

QUEST: Carsten, I'm so glad. That's one of my favorite quotes, along with President Stubbs quote, which you'll be aware of, in Europe, you have a

crisis followed by chaos and a suboptimal outcome.

The difference this time is China will be emboldened as it loses its markets in the US, and the US will be bullying Europe. Rana Foroohar of the

FT talked about it this week, and Europe doesn't seem to be able to make a decision.

So in that scenario, how low do you think the ECB will go on cuts?

BRZESKI: Well, I currently think they will go to slightly below neutral, which is in my view 1.75 percent by next summer. If we really are stuck in

an endless stagnation as you said, so I think there will be pressure on Europe also to choose sides and Europe is clearly more dependent on China,

so it will be hard for Europe to choose. In the end they will choose for the US very clearly, also due to security reasons.

But if this stagnation continues beyond the summer, then the ECB could go lower and we might even see something like one percent, not our base case

scenario right now, but you know, the ECB might have to go where it thought it would never have to go again.

QUEST: Carsten, I am grateful. Thank you very much. Carsten Brzeski joining me from Frankfurt this evening.

Now tonight and indeed all this week, I have been here in Marrakech, one of the finest cities that you'll ever go to. And even though it is not the

commercial capital of, say, Casablanca, it is a major business center. And of course, huge for tourism.

There has been the development here in the city under King Mohammed VI, as indeed there has been throughout the country.

Morocco has spent the last two decades modernizing and preparing itself to be a major tourist and commercial center. So there are ports, highways,

trains -- you name it. The airport here is something to behold. The smoothness and ease of using quite remarkable.

However, when you talk about the Moroccan economy in the wider context, well, it is a nice evening tonight, but the economy is very vulnerable to

the weather.

[16:10:10]

(BEGIN VIDEOTAPE)

QUEST (voice over): When the weather dries up in Morocco, so do the profits, because nearly half its population is in some way involved in

agriculture.

It makes the economy very vulnerable to droughts that frequently strike.

BENAISSA KAAOUAN, UNEMPLOYED FARMER (through translator): When God no longer gives us blessings, when there is no more water, we are helpless. We

have no work.

QUEST (voice over): It has also made growth more inconsistent than the Kingdom would like, but when the weather is fine, Morocco has plenty going

in its favor.

Its hybrid system of government involves a monarch and a Parliament, giving it a political stability that its neighbors frequently lack. That stability

has allowed it to focus on modernization.

QUEST (on camera): The King has brought the country firmly into the 21st Century. Much has been spent on infrastructure. The ports, Morocco is now a

major player in the car industry, and so looking to the future, the focus is on relationships with regional neighbors and sustainability and growing

the economy.

QUEST (voice over): Morocco is one of the top tourist destinations in Africa, drawing in millions of visitors a year. A Hollywood classic has

given it a reputation for romance.

After all, "Casablanca" is amongst the most acclaimed films ever made.

SAM, FICTIONAL CHARACTER: I don't know what you mean, Miss Ilsa --

ILSA LUND, FICTIONAL CHARACTER: Play it, Sam. Play "As Time Goes By."

SAM: You must remember this, a kiss is just a kiss. A sigh is just a sigh.

QUEST (voice over): Reputation can only get you so far and the country is dealing with very real challenges like high unemployment, the vulnerable

water supply and cronyism that often means in Morocco, it is who you know, not what you do.

Morocco knows what is holding it back the question is whether it will do what is necessary to build a more robust, resilient, and sustainable

economy.

(END VIDEOTAPE)

QUEST (on camera): So those are questions for the adviser, the senior adviser to the King of Morocco, and after the break, we will talk about

that and also Syria, how Morocco views the developments taking place at one of its near neighbors.

All that and more, it is QUEST MEANS BUSINESS tonight, live from Marrakesh.

(COMMERCIAL BREAK)

[16:15:34]

QUEST: Welcome back QUEST MEANS BUSINESS in Marrakesh, an American released from prison in Syria has been handed over to the United States and flown to

Jordan.

It is Travis Timmerman, and he says he was imprisoned for months under Bashar al-Assad's regime after he entered Syria without permission.

The US Secretary of State Antony Blinken has made an unannounced visit to Iraq. He is then heading on to Jordan. It is part of Washington's ongoing

efforts to limit the fallout from the collapse of the Assad regime.

In Syria, thousands of people have gathered across the country. They are having Friday prayers, celebrating the fall of the regime.

CNN's Clarissa Ward joined the crowds in Damascus and sent us this dispatch.

(BEGIN VIDEOTAPE)

CLARISSA WARD, CNN CHIEF INTERNATIONAL CORRESPONDENT: People are flooding into the Central Umayyad Square from around Damascus, they're flooding into

squares across the entire country.

This is the first Friday since Bashar al-Assad left the country, and you can see, understandably, so many people here are celebrating what they see

as the greatest victory of a lifetime, after 53 years of totalitarian rule under Bashar al-Assad, after hundreds of thousands of dead and disappeared

into Syrian prisons, finally, Syria for these people is free.

(UNIDENTIFIED MALES speaking in foreign language.)

WARD: This is what you hear over and over, "Syria Hurriyah, Syria Hurriyah," Syria is free, and the crowds are getting bigger and bigger

here, as people really just absorb the magnitude of this moment.

UNIDENTIFIED FEMALE: So, thank God. We're so grateful that we finally can speak freely, we can criticize, we can help. We can feel like this country

has a future, you know.

WARD: What does this moment feel like in that?

UNIDENTIFIED FEMALE: It's like a dream. It's like a dream. At the end, I felt like I'm going to lose the hope that he is going to leave, and now

we've got back the hope. Honestly, it's like a dream come true.

UNIDENTIFIED MALE: Now, it's a great feeling. We are in Umayyad Square. We are in the middle of Damascus singing freedom, singing we are still -- we

want the same demands of democracy, of participation, of justice.

WARD: And everyone understands that there are a lot of question marks still about what comes next and what the new Syria will look like, and yet you

see people from --

(PEOPLE chanting)

WARD: We hear a lot of chants like you heard in the very beginning of the uprising in 2011. People would risk their lives to take to the streets to

engage in these kinds of chants.

(PEOPLE chanting)

WARD: This flag of the Syrian Revolution and also these people, they never imagined that they would be able to chant these chants and wave that flag

right here in Umayyad Square.

(END VIDEOTAPE)

QUEST: Extraordinary scenes across Syria being brought to you here, and here in Morocco, a senior advisor to His Majesty, the King says there is a

new chance in Syria after the collapse of the Assad regime and one in which countries must take advantage.

Andre Azoulay is known for his efforts to promote peace and reconciliation in the Middle East. He is known across the region.

We began by discussing how he now sees the situation in Syria.

(BEGIN VIDEOTAPE)

ANDRE AZOULAY, SENIOR ADVISER TO KING MOHAMMED VI OF MOROCCO: We will see. Too early to say that we understand and we know where we go. Not at all.

I think that game is over, the old one and tomorrow will be different, definitely. And we were not so good before, it was not so well. It was not

so nice.

A lot of the cheat, tragic, so I do hope that tomorrow will be better at least, at least there is a new chance. There is a new landscape, political

landscape and then it will be new rulers and there will be new chances.

[16:20:14]

QUEST: Where does Morocco stand these days? It is a fascinating country. It manages its economy reasonably well. There are imbalances within the

economy that would need to be addressed. Where do you see the country standing.

AZOULAY: If you look on Morocco by December, 2024 and Morocco just five years ago, ten years ago, 20 years ago, it is impressive. There is a real

Moroccan momentum and it is -- I mean, our growth was not like that, but it was always like that, never down.

But after the French protectorate, Morocco was the only country I know on the southern shores of the Mediterranean who made three major decisions,

which explains why Morocco is different and why Morocco is performing.

First of all, we were the only country who made forbidden by Constitution, the one-party system. Diversity was from the very beginning of the very

first day. You know, in the first Moroccan Parliament, they were on the extreme right. The Islamists and on the extreme left, the Trotskyists and

the communists.

Second decision, at the same time, we were forever a market open economy, a business economy. All the other countries were state economy, state-owned

economy. It makes a difference. And we made the third decision, which was key to understand Morocco was to have a strong partnership with the western

world.

QUEST: This is winter. Five thousand with almonds.

Your family has been involved here for how long?

AZOULAY: As far as I can. Check, verify 200 years.

QUEST: Wow.

AZOULAY: But I am 3,000 years old myself.

QUEST: Tell you what you are.

AZOULAY: I'm Jewish by identity. I am Berber, I am Isaiah, I am Arab, I'm African, I'm Mediterranean and I feel so blessed and gifted again to have

this, you know, rendezvous with all the civilization. It means a lot for me.

QUEST: Since it is, well, yes, since it is a --

It is very meaningful to be here. Very, very close up. And this was from when?

AZOULAY: The synagogue?

QUEST: Yes.

AZOULAY: It is the second half of the 19th Century.

QUEST: And it is still -- but it is still sanctified for services?

AZOULAY: Yes, absolutely and we have services here.

QUEST: Why has there been this cohabitation, this close relationship between Islam and Judaism here in Morocco that we don't find elsewhere in

the region? Why?

AZOULAY: Nowhere in the world except in Morocco, by this time, and in the Essaouira, too. But, you know, let me tell you, it is not cosmetic. It is

not surface. It is not to please anyone saying we are good guys, being together, not at all. It is so deeply rooted in the mindset of all of us,

Muslims and Jews.

If you have a Muslim guest and you will ask him this same question about Judaism, he will tell you exactly the same. That is like the magic of

Essaouira. But again, it is true.

QUEST: But why? Where does it come from?

AZOULAY: First of all, it was for long centuries, it is not today, but we didn't -- we didn't forget in this Muslim, very Muslim country, in

Essaouira in the 19th Century, it is the only place in the world of Islam with a Jewish majority.

QUEST: So here you must be very aware of the rising tide of antisemitism --

AZOULAY: Absolutely.

QUEST: -- elsewhere, and the significance of ensuring that doesn't happen here too.

AZOULAY: No, it doesn't -- not only doesn't happen, but on the contrary, because of that, we are speaking to our, let's say, DNA, and we want this

signal to be sent to the rest of the world saying it is still possible to do exist, and again, we are not doing it because of this a war. We have a

war in Israel, in the Middle East, but regarding relations and the proximity and as I said, the capillarity between the Muslims and Jews, we

have to keep it alive more than ever.

(END VIDEOTAPE)

[16:25:32]

QUEST: Morocco now, in this country, tea and coffee are the lifeblood of the country, but you have to remember, it is how you pour the tea that

matters.

Well, after the break, oh, I got overconfident there, after the break, I will have a cup with one of Morocco's most prominent businessmen who has

made great success with these drinks and he will show me properly how I should be pouring. Oh, that's very good. Excellent.

(COMMERCIAL BREAK)

QUEST: Hello, I am Richard Quest. There is a lot more QUEST MEANS BUSINESS in just a moment.

Donald Trump's transition team is reportedly discussing getting rid of the agency that guarantees bank deposits and I will also speak to the CEO of V3

Gourmet on how he is bringing Moroccan tea and coffee around the world. We will get to all of that over gourmet coffee, but only after the news

headlines, because this is CNN and on this network, the news always comes first.

Ukrainian officials are warning that Russia may target parts of the country with ballistic and cruise missiles. That is after Ukraine says another wave

of Russian strikes caused widespread power outages, forcing people to take shelter in places such as metro stations.

The former US Speaker, Nancy Pelosi, is in hospital in Luxembourg. Several sources are telling us she was injured after falling on stairs. According

to her office, the California congresswoman is receiving treatment. She will not attend the rest of her official engagements.

Pelosi is in Luxembourg to mark the 80th anniversary of the Battle of the Bulge.

The McKinsey consulting firm has reached a $650 million settlement linked to its work on opioid painkillers. The firm advised Purdue Pharma on how to

increase sales of OxyContin. The settlement resolves a US Justice Department investigation. McKinsey now says it is deeply sorry for its role

in the opioid epidemic.

The head of OpenAI is giving a million dollars to Donald Trump's Inauguration Fund. The CEO, Sam Altman, is the latest tech leader to back

the president-elect. OpenAI says the money is a personal donation from Altman. Meta and Amazon have made similar contributions.

[16:31:19]

The Trump transition team is looking to streamline the U.S. banking regulatory system, and that could involve cutting staff and merging various

agencies. For instance, they're taking aim at the FDIC, the Federal Deposit Insurance Corporation, not a particularly sexy title, but an important role

that it plays. It protects the deposit of savers in case of banks' failures. The major changes to the FDIC Corporation, it will take an act of

Congress to pass through but in the current environment, that might be quite straightforward.

The push is coming from the so-called Department of Government Efficiency, DOGE, you remember. That's the new group. It's not an official government

department, but it's the one that's led by Elon Musk and Vivek Ramaswamy. Kayla Tausche is in Washington joins me now.

Why the FDIC of all the agencies I can think of? Because if you do get rid of the agency, you're only going to have to parcel out things like deposit

insurance to other people.

KAYLA TAUSCHE, CNN SENIOR WHITE HOUSE CORRESPONDENT: Well, Richard, it's not just the FDIC. It's essentially the entire alphabet soup of the banking

regulators. The FDIC is just the one that gets mentioned because they believe that the deposit insurance factor of that that that can easily move

over to the Treasury Department, and then the staff that's left at the FDIC are more or less redundant.

But they are also looking at the Office of the Comptroller of the Currency and the Federal Reserve, believing that perhaps the bank regulatory powers

of the Fed should be moved over to the OCC. And then there's the Consumer Financial Protection Bureau, which they want to change entirely if they are

not constitutionally able to shut it down. This is all an effort to streamline the number of agencies that banks have to report to and that are

running the reams and reams and reams of regulations that this industry has had to comply with that has been built up over the last several decades.

But Richard, it's important to note that this is a push that has been tried before, notably in the wake of the Great Recession, lawmakers tried to

remove some of those regulatory powers from the Federal Reserve, the regional Fed leadership and systems. The pushback from there was so Steve

about the job losses in Cleveland and Minneapolis and Richmond that they ended up leaving that on the cutting room floor.

QUEST: And now we shall see if they will have another go at it. Thank you, Kayla. Kayla is in Washington. Have a good weekend. And so, to our

discussion tea and coffee. Now you know me and a good cup of tea or my barista skills with coffee. Well, here in this country, it's the lifeblood

of Morocco.

Joining me is Taha Bouqdib. His mission to spread them throughout the world. He is the president and the chief executive of V3 Gourmet, which

owns bachelor coffees, TWG Tea and a number of dining brands. They showcase their Moroccan roots through their various stores, and the company plans to

keep expanding. Taha is the president and the owner of V3 is with me.

Sir, we have both tea and coffee, but I'm very interested in this love affair that this country has with these drinks.

TAHA BOUQDIB, OWNER, V3 GOURMET: Absolutely, you know, Morocco, it's very known for our hospitality first. And means hospitality means the moment I

meet you or I welcome you at home, I need to offer you tea or coffee. And this is why I said this refinement. How can be global? And this is how I

said, you know, let's create luxury brands can grow from Morocco to the world.

[16:35:03]

QUEST: And you've done so extremely successfully here, the coffee particularly, but I'm very interested in the price of coffee.

BOUQDIB: Yes.

QUEST: The price of coffee has been rocketing lately, particularly the Arabica (INAUDIBLE) and the Robusta. What is causing this rise in the price

of coffee?

BOUQDIB: Of course, I think this year especially was crazy like the price was just unbelievable because of --

QUEST: We could see from January at 190, it's now over 321.

BOUQDIB: Because you have the climate issues that, you know, you have two biggest producer in the world today. You have Brazil and Colombia. The

moment these two countries have some small issues and you have the demand plus the supply it doesn't match. For example, we have this year in Brazil

some issue about the climate. You have in Colombia, the same issue, but it's more rain and you have some strikes. Means, the moment the demand it's

so big.

QUEST: But how is that affecting your business? Because you're buying coffee.

BOUQDIB: Absolutely.

QUEST: Yes. I mean, you're buying coffee in very large amount.

BOUQDIB: Yes, absolutely. But what we did from day one, we expand our sourcing from different area. This is why we are sourcing from three --

like, 300 different kind of suppliers around the world and from 35 countries. Means, if I can see today that Brazil and Colombia have some

issues, I can still go to Africa. I can go straight to other countries that I can buy coffee.

QUEST: How much of this price increase is speculative? In other words, its market versus supply and demand versus what's actually going down to

growers?

BOUQDIB: Today, we -- this year increased by 60 percent which is unbelievable. But what I did from the beginning, I have some deals with the

direct farmers to have a nine years contract. Means that I don't want to increase my price every year. Means I pay a price for nine years from now,

some agreement. And from that, I can supply all the world with the same price.

QUEST: Which part of the world because you sell across the world, which part of the world is really booming for tea and coffee?

BOUQDIB: Asia.

QUEST: Asia.

BOUQDIB: Asia, the -- especially for the youngest now, they are -- the demand is just unbelievable. And especially the youngest one. I think they

have some, you know, deep pockets and they want to buy expensive coffee, expensive tea and they are willing to pay for the experience as well.

QUEST: Now you have the -- you have this coffee bag, because I'm not sure whether this is actually a coffee bag.

BOUQDIB: IT is.

QUEST: It is. I can't open it, but if I could open it --

BOUQDIB: I can -- I can help you.

QUEST: Now, the point about it is, there is a backlash over mass coffee, in a sense. The Starbucks around, if you like, are you beneficiaries of that?

Oh, you know how to do this. You've done this before.

BOUQDIB: Yes.

QUEST: Is there a backlash, do you think?

BOUQDIB: No, you know, I think I'm benefiting from to give an excellent coffee and excellent quality and the constancy. Means that, you know, for

you go for the mass market, you are focused on the pricing. You are focused on the trend. For us, it's -- you know we have we create a brand for to be

like for life, for next generations. And, you know, when you create a brand for next generation, you create excellence. You create the product that the

quality of the packaging is the same as the product.

QUEST: But is Morocco the place for all of this?

BOUQDIB: Absolutely. Today, Morocco is open to the world. We have all the visitors from all over the world and they want to have an experience that

to be unique. And I think this is what we want to create, this unique list.

QUEST: Finally, I managed to get this. This is what it looks like. It is -- and you rip it over here, don't I?

BOUQDIB: Absolutely. You take out this.

QUEST: You get the idea.

BOUQDIB: You have it this way.

QUEST: Yes. And we would then put it here.

BOUQDIB: It's very simple. You just put it here inside.

QUEST: And you pour into the -- I've got tea in here but you would pop something --

(CROSSTALK)

BOUQDIB: And you put hot water. Absolutely.

QUEST: And it will be successful.

BOUQDIB: Amazingly. The last year, we sold 120 million and this year, we are targeting to finish this year about 200 million coffee bags. And we are

targeting for the next years to come, more and more and more. Why? Because it's very easy, very practical, and you can take it with you everywhere in

the world.

QUEST: I'm delighted that you joined us tonight, sir. It's very kind of you to join.

BOUQDIB: Thank you. Thank you so much.

QUEST: Thank you for coming along this evening. We are here live in Marrakesh where things are looking absolutely splendid for you.

Now, this just into CNN. The man accused of killing the UnitedHealthcare CEO has been identified by police in California days before -- four days

before his arrest. The FBI New York office received a tip from San Francisco Police on December the fourth, the day of the shooting. An office

unit -- Special Victims Unit recognized Luigi Mangione as a possible suspect. His mother had reported him missing to San Francisco police in

November.

Brynn Gingras is with me. And as we looking at this latest development.

[16:40:00]

It's interesting, because we have to determine whether this is a failure of the communication and the New York Police Department missed this

opportunity or is it hindsight and being clever thereafter?

BRYNN GINGRAS, CNN NATIONAL CORRESPONDENT: Yes, it's unclear. Listen, Richard, we know that the police were going through hundreds of tips at the

time they released that picture where you could actually see the face of their suspect who they now believe is Luigi Mangione. We know that from

sources, I can tell you at least three names that I was writing down on my notepad hearing that possibly that could be their suspect.

So, they were chasing down a number of leads. It's unclear when this tip came into the NYPD, when it finally made its way from San Francisco, to the

FBI in New York, to the NYPD, where, in sort of that pile of names or that evidence, or these tips that they were getting in. It landed that didn't

really allow for NYPD to actually, you know, go investigate particularly Luigi Mangione. So that's really the question here.

That's something we're still going to ask, but you just said it there. This tip does appear to have come in about four days before that arrest actually

happened. And according to the San Francisco Chronicle, it was all based from this Special Victims Unit police officer in San Francisco P.D. who was

assigned to that missing person's report that was filed on November 18 by Luigi Mangione's mother.

So, he was looking into that and then recognized that face based off that photo that was sent everywhere and that's when the tip sort of started its

way down the chain into the NYPD.

QUEST: So where does this go from here? Because he is obviously still fighting extradition to New York. And I mean, the way I read that, it's a -

- it's going to take some time, but nobody's expecting it's not going to happen.

GINGRAS: Yes. And actually, we're getting an update. It's possible, very possible, it could happen next week. And the reason is, we're learning from

the Manhattan district attorney that he's been in some sort of communication with attorneys and it sounds like Mangione is considering

waiving his extradition now. Now if that were to happen, we're told the earliest that he can appear before a judge there in Pennsylvania would be

on Tuesday.

So that means by Tuesday, maybe there will be a decision on this, and this whole process will be expedited and Mangione will find himself back here in

New York, but as of right now, you're right, he's still fighting his extradition. In the meantime, the main District Attorney in this case,

Manhattan district attorney Alvin Bragg, he's moving forward toward that indictment, and that means giving evidence to a grand jury.

QUEST: I'm grateful to you. Thank you. Have a good weekend. Now here in Morocco, when we come back, we're going to explore the country's markets

and the many tchotchkes that lie within them. If you do know what -- if you don't know what a tchotchke is, you're not alone.

UNIDENTIFIED MALE: Limitless.

QUEST: Limitless tchotchkes. You don't have no idea what a tchotchke is, have you?

(COMMERCIAL BREAK)

[16:46:09]

QUEST: And so, to Call to Earth and this week, we've watched as divers Ghislan Bardout and Emmanuelle Pere-Bardout made ground breaking

discoveries in the Mediterranean Sea. As part of the Rolex Perpetual Planet Initiative. Today we join them as they seek to learn more about the

mysterious deep sea coral forest and everything that is when it habits. It's all about hopes of protecting the future.

(BEGIN VIDEOTAPE)

UNIDENTIFIED MALE: The discovery of the Fourni Marine Animal Forest is the result of years of planning but it is also only the beginning. Now under

the poll, we'll collaborate with Lorenzo Bramanti, a renowned coral ecologist, to collect as much data as possible to aid in the protection of

this precious new discovery.

LORENZO BRAMANTI, SCIENTIFIC CO-DIRECTOR, DEEPLIFE: For the first time, me and other colleagues are trying to really define this concept of forest and

putting in a scientific quantification that makes it possible to use it in conservation.

GHISLAN BARDOUT, CO-FOUNDER, UNDER THE POLE: Coronavirus or black holes are like trees, let's say small trees, they can be that high, that high, that

high, but they are really a shelter, a habitat, for many other species.

UNIDENTIFIED MALE: The science is a multi-disciplinary approach to establish how robust these deep forests are to the effects of climate

change and whether they can be a refuge for sea life as shallower ecosystems continue to decay, involving ecology, chemistry, acoustics,

hydrodynamics and physics. Each research element needs to be run past the divers to make sure it's feasible in the limited time they have at such

extreme depths.

STEEVE COMEAU, MARINE BIOLOGIST: OK. So this is the new device that you are going to have to deploy. The goal of this setup is to measure the

calcification of the community, so to see how the community is growing.

UNIDENTIFIED FEMALE: How many times should we which is underwater?

COMUEAU: The goal will be to try to go first on the part with the gorgonians, then the part with the black hole, if there is time, and if the

weather allow it to then have like on a control site with a (INAUDIBLE)

UNIDENTIFIED MALE: Very few people in the world have the training to dive to the mesophotic zone and fewer still have the ability to work down there.

To reach these depths under the poles divers must use rebreathers, originally used for military purposes. Rebreathers absorb the carbon

dioxide from each exhale and recycles it back through a closed circuit as oxygen. This allows divers to stay underwater for far longer than scuba

tanks and without bubbles, causing a lot less disruption to the sea life.

BARDOUT: It's a revolution in underwater exploration to dive deeper, longer, safer, and that enables new scientific programs to get a better

understanding of the ecology of the depths.

EMMANUELLE PERE-BARDOUT, CO-FOUNDER, UNDER THE POLE: Every deep dive is very tiring. Physiologically, sometimes we lose five kilograms during one

dive. It's just water, but it's very desired writing to dive like this.

UNIDENTIFIED MALE: On a typical mission lasting six or seven months, the crew will complete between three and 400 dives to different hot spots all

across the Mediterranean.

PERE-BARDOUT: I think when you are doing exploration like we are doing, it gives us a huge responsibility.

[16:50:05]

We see things that nobody can see. But it's not enough. Exploration for -- exploration sake is not enough. So, we need this very strong collaboration

with scientists, and this is what I love, is that we take very different person with very different specialty, where different of working all

together, to work for one purpose.

(END VIDEOTAPE)

QUEST: Absolutely glorious. And to see more from under the poll, tune in for the full documentary. Call to Earth. Forest of the deep. It's this

weekend, and it is, of course, here on CNN.

(COMMERCIAL BREAK)

QUEST: The landmark mosque, the Kutubiyya Mosque here in Marrakesh. And we are at the Nobu Riad, on the famous Riad's brand new here in Marrakesh.

They kindly allowed us to come and enjoy their delights. Five, six weeks. Brilliant. Thank you to them for inviting us to infiltrate. They'll throw

us out afterwards. I promise you that much.

Now, if you do start here in Marrakesh and drive a few hours, well, you're going to end up with the seaside town of Essaouira. It's known for

beautiful beaches and its lively markets. You can buy all sorts of things, for instance, tchotchkes. Now you might want to know what is a tchotchke.

If you take a look here, you will see. These are what tchotchkes are. It's an object which is decorative or amusing rather than strictly functional.

And as you can imagine, I've got some here, got some here, tchotchke galore. Because when I come to somewhere like Marrakesh, oh, I'm in

tchotchke heaven.

(BEGIN VIDEOTAPE)

QUEST (voice-over): Look at all this stuff. We could be here for hours. What is this?

UNIDENTIFIED MALE: Nugget almond.

QUEST: Nugget with almonds.

UNIDENTIFIED MALE: (INAUDIBLE)

QUEST: Oh, thank you. You know, me, I like a good market.

UNIDENTIFIED MALE: What's the thing to buy, though, Richard?

QUEST: Yes. What is the thing people buy here?

UNIDENTIFIED MALE: The wood and the (INAUDIBLE) you know, gold and silver.

[16:55:06]

QUEST: Tchotchkes. You can't beat a good tchotchke.

UNIDENTIFIED MALE: Here. I mean, it's limitless.

QUEST: Limitless tchotchkes.

UNIDENTIFIED MALE: Limitless.

QUEST: Limitless tchotchke. Do you no idea what a tchotchke is, have you?

UNIDENTIFIED MALE: I have no idea what you're talking about.

QUEST: How would you describe a tchotchke? Tchotchke is a --

UNIDENTIFIED MALE: Tchotchke?

QUEST: Yes. It's a -- it's a sort of trinket that's have got no purpose whatsoever, other than to clutter up the room.

UNIDENTIFIED MALE: A bit like you?

QUEST: What? I walk -- I lit --

UNIDENTIFIED MALE: That's why I stay back here.

QUEST: I literally --

UNIDENTIFIED MALE: I stay wide.

QUEST: I sort of walk right into that one. Ah.

(END VIDEOTAPE)

QUEST: Revenge of awesome all who you'll see when in World of Wonder. We'll take a profitable moment after the break.

(COMMERCIAL BREAK)

QUEST: Tonight's profitable moment. I can keep it brief when there's so much difficulty and trouble in the world. It is lovely to be a place like

Essaouira or here in Marrakesh where communities do live together quite beautifully and quite harmoniously most of the time. It was a treat and a

pleasure to do both.

And that's QUEST MEANS BUSINESS for this Friday night. I'm Richard Quest in Marrakesh. Whatever you're up to in the hours ahead, I hope it's

profitable. I'll see you next week.

JAKE TAPPER, CNN ANCHOR: Welcome to THE LEAD. I'm Jake Tapper. This hour justice delayed but not denied, a Pennsylvania man has his conviction

vacated and walks free after spending 26 years in prison for a crime he has always maintained he did not commit. Now I'm going one on one with Tyree

Wallace about his newfound freedom and how he's working to help other formerly wrongly incarcerated people and others reenter society.

Plus, former House Speaker Nancy Pelosi is in the hospital after falling during an overseas trip. What we're learning about her condition these days

after longtime Senate Republican Leader Mitch McConnell was also injured in a fall.

[17:00:07]

END