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Quest Means Business
Chinese Investors Check In On Starwood; Putin Orders Troops To Begin Syria Withdrawl; Civilians Targeted In Turkey, Ivory Coast Attacks; Gunmen Attacked Thee Ivory Coast Hotels; Barclays Africa CEO Talks Sell-Off Plan; Former Anglo Irish Boss Arrested; Dark Secrets Behind Tea Trade; Mayor of Miami Supporting Marco Rubio; Gimenez Says We are Building a City Within a City in Miami-Dade County; Former Editor of Breitbart Says the Site is Biased Towards Trump; Breitbart Resignations Over Trump With More To Come; Chinese Firm Makes a Better Bid for Starwood Derailing Marriott's Deal. Aired 5-6p ET
Aired March 14, 2016 - 17:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[17:00:00]
ELENI GIOKOS, HOST: Wall Street has managed to squeak out a tiny gain as the closing bell rang about an hour ago. It's Monday, the 14th of March.
(BEGIN VIDEO CLIP)
GIOKOS: Tonight, a stunning order from the Kremlin. Vladimir Putin pulls Russian troops out of Syria. And a $30 billion hotel shopping spree.
Chinese investors are checking in Starwood.
And from the mountains of India to the cup on your table, CNN's Freedom Project investigates the human rights abuses in the global tea industry.
(END VIDEO CLIP)
GIOKOS: I'm Eleni Giokos and this is "Quest Means Business."
A very good evening to you. We'll have the day's business news in just a moment. First tonight, a stunning development in the Syrian conflict.
Russian President Vladimir Putin has ordered his forces to begin withdrawing from Syria.
(BEGIN VIDEO CLIP)
GIOKOS: He says they have achieved their goals in the country. The state- run company Sputnik News Agency reported the pullback will begin on Tuesday. It says President Putin told his Syrian counterpart, Bashar al
Assad, of the decision in a telephone call.
VLADIMIR PUTIN, RUSSIAN PRESIDENT: (As translated) I believe that the goals set out to the Ministry of Defense and the armed forces has overall been
fulfilled. And that's why I order the Minister of Defense as of tomorrow to start the pullout of the main part of our military grouping from the
Syrian-Arab Republic.
(END VIDEO CLIP)
GIOKOS: Well, CNN's Clarissa Ward was recently in rebel-held territory near Idlib, traveling undercover where the jihadist presence is high and air
strikes are unpredictable. Here's some of her exclusive reporting.
(BEGIN VIDEO CLIP)
CLARISSA WARD, CNN SENIOR INTERNATIONAL CORRESPONDENT: We heard the scream of fighter jets wheeling overhead. Moments later, a hit. There was just an
air strike here, in the town of (Ariha) so we're now driving quickly. It's not clear yet what was hit.
(END VIDEO CLIP)
GIOKOS: Well, Clarissa now joins me, a very good evening to you, Clarissa.
WARD: And to you too.
GIOKOS: I mean was this a shock to you? Because this is basically what we're hearing from the international community.
WARD: This was flabbergasting. Everybody I have spoken to has said the same thing, that it was completely unexpected. And at this stage I think we have
the old cliche of many more questions than we have answers. What is this withdrawal going to look like, exactly? Will all troops withdraw? Does this
mean the aerial bombardment will also stop? You know what does it mean in terms of the future of the regime of Bashar al Assad? They have come to
rely very heavily on that Russian air cover. Will this have an impact on the ground in the city of Aleppo where Assad's army had made some major
gains in the past few weeks on the back of that Russian cover?
(BEGIN VIDEO CLIP)
WARD: So there's a lot at play. And I think everybody will be watching very closely to see what this withdrawal will look like and to try to get a
better sense of whether it speaks to some larger conflict or friction between Russia and the regime. Or whether this is simply a case of Russia
saying, no more mission creep, we don't want to get any more involved, or if it's simply some kind of a PR route designed to play on the negotiations
going on in Geneva.
(END VIDEO CLIP)
WARD: So only time will tell.
GIOKOS: I mean that's interesting that it's happening at the same time essentially. Tell me a
little bit about what you've seen on the ground. Do you -- did you see a high presence of Russian troops, or was it mostly air presence?
WARD: You don't see any Russian troops on the ground in the areas where I was. I was in the rebel-held parts of the country, specifically in Idlib
and in Aleppo.
(BEGIN VIDEO CLIP)
WARD: What you do hear, day in and day out, is the sound of jets, and that sound, I can tell you, gives every single person living underneath those
bombs a pit in their stomach, because they know exactly what comes after the roar of the fighter jets is the dropping of the payload. And the bombs
and the bombardment that Russia has brought to the table since it intervened militarily last September has been a significant increase in the
intensity, the scope, the sophistication of the weaponry and the bombs that they're using, has taken that bombardment to a new level from what we were
seeing the regime using.
(END VIDEO CLIP)
GIOKOS: And interestingly I mean President Putin was talking about having reached objectives there.
WARD: That was-- flummoxing one because the Russian objective has always been to kill the terrorist ostensibly. But the bombardment has focused
very much on civilian infrastructure as well as Islamist groups.
(BEGIN VIDEO CLIP)
[17:05:05]
WARD: It has not focused very much on ISIS at all. In the eastern part of the country, ISIS still enjoys a huge amount of - well it still has a large
swath of territory in that part of the country. So it was unclear to me exactly what President Putin meant when he talked about having completed
the task. What exactly was the task? And what was the bar set for success?
(END VIDEO CLIP)
GIOKOS: Well, Clarissa, thank you very much for joining us, much appreciated. And of course you can see more of Clarissa's exclusive
reporting from Syria all this week on CNN. She traveled undercover, deep into the heart of a country scarred by five years of war. Inside Syria:
Behind Rebel Lines, only on CNN.
For more on this story, our senior international correspondent, Nick Paton Walsh, is on the line from Beirut for us. Nick, a very good evening to you.
And again, this is pretty much a shocking move. And there's a lot at stake at the moment, especially when you've got peace talks which are supposed to
be going on in Geneva.
(BEGIN VIDEO CLIP)
NICK PATON WALSH, CNN SENIOR INTERNATIONAL CORRESPONDENT: Well I think the desire for the Kremlin to at some point get out of the conflict in Syria
has to some degree been telegraphed. What's been surprising is not so much the fact that they didn't want to be there forever. The fact that they're
announcing this move quite so openly, so much of the Kremlin's military maneuvers or strategy is kept behind closed doors. But this is a very open,
blatant statement saying we're beginning leaving tomorrow and it's happening on the first day of the new beginning of U.N. led peace talks in
Geneva. That's what is so staggering here. And I think one of the only clearest ways you can interpret this move by Vladimir Putin is to have some
kind of impact perhaps on those talks.
You keep looking at the statements from the Kremlin today and Russian state media and there's one clear theme: yes, we're beginning to withdraw our
troops and we'll keep some elements of our infrastructure at the air bases of (inaudible) but also keep supplying military equipment and training to
the Syrian military. We're beginning to bring our troops home use, and at the same time the statements are in view with the idea we want to focus as
well on the political process in Geneva.
Now, there's an interesting quote that the Kremlin quoted Bashar al Assad is suggesting they're now interested and invested in a successful political
process in Geneva. Of course Damascus would say they always have been (inaudible) to those meetings. But they're sort of perhaps in the mouth of
the Kremlin an extra level of dynamism they're invoicing on behalf of Damascus. And that makes you wonder whether or not this change in Russian
posture is designed to influence the Syrian government's position at these talks.
There have been indications in Russian media of some Russian officials suggesting that the ultimate Syrian government red line of Bashar al
Assad's presidency is untouchable, is nonnegotiable at these discussions and that may not be entirely to Moscow's liking. They've stood by Assad
pretty intensely so far but there's certainly I think something perhaps afoot behind closed does that we're not aware of. We've always known the
Kremlin didn't want to be in Syria forever, that it was costing them perhaps a little bit too much, that their economy is hurting. But there
looked to be perhaps here a bit of Vladimir Putin and for slightly more leverage at these peace talks than he had 24 hours ago.
(END VIDEO CLIP)
GIOKOS: All right, Nick. Thank you very much for that report, Nick Paton Walsh coming to us from Beirut.
Now Barclays is selling down its stake in its African business. Now the CEO of Barclays Africa group says it's not over economic concerns across
Africa. We'll be speaking to Maria Ramos next.
(COMMERCIAL BREAK)
[17:10:12]
GIOKOS: Welcome back. Now investigations continue in Turkey and the Ivory Coast after two separate terror attacks on Sunday, aimed at soft targets,
specifically travelers.
Turkish media is reporting that four people have been detained in connection with the attack in Ankara. At least 37 were killed and more than
120 others were wounded.
(BEGIN VIDEO CLIP)
GIOKOS: A car bomb apparently targeted a transportation hub in the Turkish capital. Meanwhile, in the Ivory Coast, an Al Qaeda affiliate has claimed
responsibility for a terror attack there. At least 16 people were killed when gunmen stormed three hotels in the beach resort city of Grand Bassam.
16 people were killed, mostly civilians and the group is known for targeting hotels.
(END VIDEO CLIP)
GIOKOS: All right. Let's bring in a Fawaz Gerges, and he's a professor of international relations at the London School of Economics and he's live for
us now. Sir, thank you very much for joining us on "Quest Means Business."
FAWAZ GERGES, PROFESSOR OF INTERNATIONAL RELATIONS, LONDON SCHOOL OF ECONOMICS: Thank you.
GIOKOS: Firstly let's just take a look at what's played out with Russian troops in Syria. Has this sort of come at a time where obviously terrorist
attacks are becoming an increasingly big problem, not only in the Middle East but into Africa as well.
GERGES: I mean the Russian announcement today is really a game changer. You're going to hear the Russians and Syrians saying, well, look, we
coordinated the move, we're on the same page. Just on Saturday, the foreign minutes of Syria, Walid Muallem, said the Assad is a red line, presidential
elections are red line, and basically the transitional government is a red line.
(BEGIN VIDEO CLIP)
GERGES: You have the Russians saying, well look, we're packing and leaving. And surely if I were Assad today, I would spend a sleepless night, because
this would change the dynamics of the peace talks.
(END VIDEO CLIP)
GERGES: And yes, I mean after all, the President - the Russian President Putin has made it very clear that his strategic goal is to defeat the so-
called jihadists, is to defeat the so-called Islamic state or ISIS and al Nusra front, the official arm of Al Qaeda. All the Russian forces have done
is to really weaken the pro-western moderate rebels as opposed to other ISIS or al Nusra front. So yes, it's a major surprise. It's a major, major
slap in the face for the Assad regime, and it really has major consequences for the future of Assad and the political process in Syria between the
opposition in Syria and also the fight against the militants, in particular the so-called Islamic state and al Nusra front in Syria.
GIOKOS: Well, let's just take a look at what's happening in Turkey. And we've seen soft targets coming about over the past while as well. Istanbul
has been a target; other remote areas of the country as well have been a target. How much of a concern is this for you going forward? Do you think
this is going to be something that is going to be reality for Turkey over the next few years?
GERGES: It really is. Turkey is in the eye of the storm. It faces some major strategic challenges.
(BEGIN VIDEO CLIP)
GERGES: Since June, since July 2015, more than 200 people have been killed. Five major attacks in Istanbul and Ankara, the capital of Turkey, targeting
military installations, the tourist sector, and civilians and in particular targeting soft targets. So yes, Turkey is extremely unsettled at this
particular moment and it affects the economy. The economy that has been a major shift in the economic structure, and Turkey, as a result of targeting
the tourist sector and soft targets like civilians like we saw Sunday in Ankara.
GIOKOS: Let's move now to West Africa. We know that there are major issues there, if you look at what's happening in Nigeria, you look at Mali, you
look at the likes of Burkina Faso.
(END VIDEO CLIP)
GIOKOS: Now the Ivory Coast. And it's an interesting country because it has fantastic economic prospects, we're looking at fantastic economic growth,
and then obviously now hitting the tourism sector quite hard.
GERGES: I mean, look, we are talking about I mean the economy and financial sector. This is what the program is all about. Since November 2015, the so-
called Al Qaeda in the Islamic Maghreb, an affiliate of Al Qaeda has carried out three major bombings, three major basically on western African
targets.
(BEGIN VIDEO CLIP)
GERGES: Targeting, again, the soft - the soft tourist sector in terms of where westerners congregate. Whether you're talking about Mali, whether
you're talking about the Ivory Coast, and again, the strategic goal is to cause panic, is to target the soft tourist sector and the service center
which is the nerve centre of the economy and of course to create chaos. To terrorize the people.
[17:15:05]
GERGES: And in particular as you said, The Ivory Coast is really a success example. The economy is thriving. And you have many westerners basically
for western agencies, and this particular attack is designed to basically create chaos and affect the economic prospects of this rising economy in
the heart of western Africa.
(END VIDEO CLIP)
GIOKOS: Fawaz, thank you very much for your time, sir. Fawaz Gerges from The London School of Economics, live from London.
GERGES: Thank you.
GIOKOS: Now the chief executive of Barclays Africa Group says Barclays decision to spin off the economy is not because of economic weakness in
Africa, Maria Ramos says it's due to global regulatory challenges.
Now Barclays Africa group operates all over the continent, from South Africa to Egypt to Ghana the likes of Zimbabwe. Earlier this month the U.K.
based Barclays announced it will sell down its 62% stake in the African business. And Maria Ramos joins us live from London. Maria, thank you very
much for joining us, great to have you on the show.
MARIA RAMOS, CHIEF EXECUTIVE BARCLAYS AFRICA GROUP: It's great to be on the show, Eleni.
GIOKOS: You've - you know Barclays Africa has had a presence on the continent for almost a hundred years. It has stayed through thick and thin,
the likes of Zimbabwe, the likes of the troubles in Egypt. Why now? I know you're talking about regulatory issues, but you're talking about a
continent that still has yet to fully see financial inclusion and financial penetration. Surely there's something going on in the sidelines.
RAMOS: So Eleni, Barclays has been on some countries across the continent for over a hundred years. Barclays Africa, the business I lead, has been in
existence since 2013. And let me say, we are a proudly African bank. We are listed on the Johannesburg Stock Exchange.
(BEGIN VIDEO CLIP)
RAMOS: We have an independent border. We have a very strong balance sheet with just over a trillion rands worth of assets, strong capital and we've
just posted some really good, solid results for 2015. And so we're operating in some of the fastest-growing economies on the African
continent.
So the decision for Barclays to reduce its shareholding, they are Barkley Africa's majority shareholder, the decision for them to reduce their
shareholding is driven by regulatory reasons and not because of anything that's happening in Africa.
Our business has 12.5 million customers and clients across the African continent, in 12 countries. And I - you know we employ 42,000 colleagues
across the continent who are highly motivated, competent, and raring to go. You know Africa is part of our destiny. So we're excited about the
prospect.
(END VIDEO CLIP)
GIOKOS: I mean part of your destiny, but not part of Barclays destiny, it seems. And you're talking about fantastic economic growth rates. You're
talking - I mean we talk about the financial inclusion model; we talk about the technology advances we're seeing. It's one of the fastest growing
sectors in Africa. Why not try and sort out the regulatory issues? Have Barclays decided that this is it I mean at this point they just have to
sell down?
RAMOS: Well Eleni, I think the regulatory issues we're talking about are global regulatory issues. And Barclays plc. is a globally significant
financing institution. So it's subject to those global regulatory issues. Barclays Africa, the listed entity in Johannesburg, is actually not looking
to sell down any of its operations across the African continent. As I said, we have a strong, well-capitalized balance sheet. And we intend to
use it as we have done up to now to grow across the African continent. So Plc. is obviously going to -- has made the decision given global regulatory
requirements to change its shareholding in Barclays Africa. But you know as I've made this -
GIOKOS: Does that mean that Barclays Africa is going to - Is Barclays Africa then going to come in
RAMOS: Our shareholders are going to change but our destiny doesn't change. Our destiny is Africa. The prospects for growth in Africa remains strong.
GIOKOS: So in terms of buyers, you know I've had a lot of people that I've spoken to, very interested in buying up some of the assets. You're
basically you know alluding to the fact that Barclays Africa is a separate entity to the likes of Barclays. Does that mean Barclays Africa is going to
come in and just buy out some of those assets? Is that the plan?
RAMOS: Eleni, it's not sort of like a separate entity. We are a separate entity. In 2013, we bought from Barclays in the largest deal by an African
bank on the continent up to that point; we bought the Barclays operations across the African continent. That is what Barclays Africa is. It's a
bank as a bank we own businesses; we own banks across 12 countries on the African continent.
[17:20:10]
RAMOS: That business is owned by Barclays Africa Limited, which is listed on the Johannesburg stock exchange. And our focus here is to continue
growing that business. We are separately listed. We've got an independent board. We are strongly and well - we've got a strong balance sheet and we
are very well capitalized. And we've got the balance sheet in Africa to continue growing across the African continent. And so it is -- Barclays has
been an incredibly supportive shareholder for the last ten years. But, you know, our shareholders will change over the next two, three years. Our
strategy across the African continent for Barclays Africa does not change. We will continue to grow across the African continent and serve our 12 and
a half million customers in the same way, with the same commitment and the same passion as we have done up to now.
GIOKOS: Fantastic. Thank you very much, Maria Ramos, the CEO of Barclays Africa.
Now the former boss of one of the Ireland's biggest banks is spending the night in prison after he was arrested for returning -- when he returned to
Irish - to Ireland rather from the U.S.
(BEGIN VIDEO CLIP)
GIOKOS: Now David Drumm, the former chief executive of Anglo-Irish faces 33 charges, including fraud and false accounting.
The bank was nationalized in 2009 after it collapsed. And at the time, the Irish government said, "unacceptable practices had taken place." Drumm is
expected to be granted bail on Tuesday. Francesca Comyn is the legal affairs correspondent for "Ireland's Sunday Business post" and joins me now
from Dublin.
(END VIDEO CLIP)
GIOKOS: Thank you very much Francesca, for joining us this evening. We're talking about a bank that cost Ireland and Irish taxpayers 30 billion
euros. Where to from here? Do you think we're going to get some clarity on this very complex situation?
(BEGIN VIDEO CLIP)
FRANCESCA COMYN: Well indeed, I mean the authorities here have been looking to speak to David Drumm for some years now. They say he didn't cooperate
with their investigations. He went into a self-imposed exile in the United States, he was working over there. And six years after he left Ireland, a
few months after he quit as chief executive of Anglo Irish Bank. Finally they have him back.
The charges, 33 in number as you said, they relate to allegations of false accounting, of conspiracy to defraud that related to 7.2 billion alleged
transaction a back to back deposit arrangement between Anglo and another financial institution before the bank's year end. Also there are also
allegations of unlawful financial assistance being provided to the family of what was the richest man in Ireland at the time, and also big developers
known as the Maple 10. And it's alleged that that money was provided to them to buy shares of the bank. All of this in 2008, after the Lehmans Bank
had collapsed, clearly the share price was in trouble. So this is the sort of background or the backdrop to the charges against him.
GIOKOS: Yes, are we're talking about insider trading, essentially, as well.
(END VIDEO CLIP)
GIOKOS: Are we looking at a banking industry that has still been in turmoil after the financial crisis, or have regulators basically clamped down on
all the issues especially given the fact that you saw the country bailing out the bank?
COMYN: Well I suppose in this regard they we're really dealing with a lot of legacy issues.
(BEGIN VIDEO CLIP)
COMYN: There has been a banking inquiry in Ireland. Obviously when you have such a massive crisis, such a huge failure in the banking system, a lot of
questions have been asked. And certainly a lot of people have pointed to weak corporate governance. And well I suppose basically what's been pointed
out is that the regulator at the time was excessively differential to the financial institutes. Though the banking - a banking inquiry here found
that he did have the requisite authority and oversight to take action.
(BEGIN VIDEO CLIP)
GIOKOS: All right, thank you very much for that insight.
Now deep in the Himalayan mountains India's tea workers are in crushing poverty.
(BEGIN VIDEO CLIP)
GIOKOS: CNN's Freedom Project takes you there after this break. Stay with us.
(END VIDEO CLIP)
(COMMERCIAL BREAK)
[17:26:05]
GIOKOS: So Tea is the most popular beverage in the world, yet the industry behind it bears a dark secret. CNN's Freedom Project treks to Assam India,
to discover the price that some are paying in the country's tea industry.
Journalist Muhammad Lia brings us the story.
(BEGIN VIDEO CLIP)
MUHAMMAD LIA: We're driving through one of the world's most beautiful places. A place of winding roads and mountains on the horizon. We're
driving through northeast India right now right along the foothills of the Himalayan mountains. This is the Indian state of Assam. It's one of the
major tea producing areas in this country.
If you drank a cup of black tea this week, there's a chance it came from right here, the state of Assam. With hundreds of tea plantations, this
region produces more tea than anywhere in the world as the paved roads give way to broken gravel.
All right so we're here. We walk through this village, a place where goats roam free and sewage lines the side of the road. And this is the house that
we're going to.
Inside, 18-year-old (Manju Gore) still remembers the day the trafficker came knocking at her door. Describe to me what happened. How did you first
meet this agent?
[speaking foreign language]
LIA: But she says it was all a lie. The trafficker sent her to Delhi, locking her in a house full of young girls just like her waiting to be sold
as domestic labor. That's when she says she saw other girls being sexually abused. When did you first realize what this trafficker was doing to the
girls?
[speaking foreign language]
LIA: Were you afraid for your life?
[speaking foreign language]
LIA: Like everyone else here, (Manju's) family are tea pickers, among the hundreds of thousands who pick the tea leaves people drink every day. Most
of the workers here are descendants of bonded laborers brought in from elsewhere by the British when they ruled the country decades ago. Often
they make less than $2 a day.
Legally the plantation owners are supposed to provide housing, education, subsidized food and medical care to all their workers. But as we discovered
- all right so she just said there's no electricity - often nobody enforces the rules, leaving thousands of people living in extreme poverty.
So come take a look at this. This is -- she says this is where they actually do a lot of the cooking and this is their stove. They use firewood
to cook their meals. It's continues like these that make tea workers ripe for trafficking. Police in India tell CNN there are hundreds of cases like
(Manju's) every year, girls from tea plantations lured with promises of earning money but forced into hard labor and sex in India's big cities.
When the CNN Freedom project went to India's minister in charge of the tea industry, she told us she wanted to discuss it with other elected
officials.
(UNIDENTIFIED FEMALE) If it is so restricted, trafficking restricted only to the tea (inaudible) area, If there's anything I need to rush in to do
it, I would do it. But I have elected members of parliament who have not drawn my attention to this.
LIA: State and officials from the tea industry wouldn't comment to us about the trafficking. Back in her village, (Manju) says she'll continue to speak
out. People around the world watch CNN's Freedom Project. For all of the people that are watching right now, what's your message to them?
LIA: (voice-over) State and officials from the tea industry wouldn't comment to us about the trafficking. Back in her village, Manju says
she'll continue to speak out.
(on camera) People around the world watch CNN's Freedom Project. So all of the people that are watching right now, what's your message to them?
GAUR: (subtitle) I'm making a request that this shouldn't happen to anyone else...buying and selling girls, lying to them, preying on them because
they're poor. I want it to stop.
LIA: (voice-over) But this isn't where Manju's story ends. After the interview she shows us this photo of her sister, telling us she was also
lured by traffickers and is still trapped. In a few days she's hoping to be part of a daring police raid to rescue her. For the CNN Freedom
Project, Muhammad Lila is the State of Assam, Northeastern India.
(END VIDEOTAPE)
GIOKOS: Tuesday's Republican primary in Florida is make or break for local Senator Marco Rubio. I'll be speaking to one of his supporters, the Mayor
of Miami-Dade, next. Stay with us.
(COMMERCIAL BREAK)
[17:33:20] ELENI GIOKOS, CNN ANCHOR, CNN MONEY AFRICA CORRESPONDENT: Hello, I'm Eleni Giokos. Coming up on the next half hour of QUEST MEANS
BUSINESS, the Mayor of Miami-Dade joins me to talk about the importance of the Sunshine State on Super Tuesday.
And the Chinese consortium you've never heard of, who are trying to buy hotels in the U.S.
Before that, these are the top news headlines we're following for you this hour.
Russian troops are set to begin withdrawing from Syria. The surprise move was announced by President Vladimir Putin on Russian state television after
months of air strikes in support of the Assad government. Mr. Putin says Russia has achieved its goals inside Syria.
And Turkey's deputy prime minister says one of the suicide bombers responsible for Sunday's attack in Ankara was a woman. Officials say they
hope her identity will be established in the next few hours. At least 37 people were killed and scores more wounded by the car bombing which
apparently targeted a transport hub.
And four French citizens are among the dead after a terror attack in the Ivory Coast. The overall death toll has risen to 18 after gunmen stormed
three hotels in the beach resort of Grand-Bassam. France and the U.S. have offered their support to the Ivorian government.
Hundreds are frustrated. Migrants stranded in Greece made a bold and illegal march around a border fence. It had been blocking their route into
Macedonia for the past week. Many of the migrants formed a human chain to cross a river. Once in Macedonia, they were soon stopped by security
forces.
German chancellor Angela Merkel says Sunday's regional elections were a tough day for her party. Voters in three German states awarded gains to a
conservative anti-immigration party which opposes chancellor Merkel's open door policy to migrants.
Tonight, the Republican Party stands on the brink of an historic day in the 2016 race for the White House. Ninety-nine delegates are up for grabs in
Florida tomorrow. An in the so-called Super Tuesday 3. Now Donald trump is showing no signs of losing momentum as polls show he's enjoying a
comfortable lead in the Sunshine State. Yet defeats in his home state could spell the end for Florida's Senator Marco Rubio, who says tomorrow is
all about stopping Trump.
Carlos Gimenezi is the mayor of Miami-Dade County and has endorsed Marco Rubio. Now joins me from Miami, Florida. Thank you so much, Mr. Mayor,
for joining us. Now two high profile Republican candidates, Marco Rubio and Jeb Bush, failed to make headway in their home state. Those seemly
prefer the likes of Donald Trump. And we're talking about a state that has the largest Cuban-American population. Given Trump's stance on immigrants,
why do you think that is?
CARLOS GIMENEZI, MAYOR OF MIAMI-DADE COUNTY: Well you know, I don't really particularly agree with the polls or think that polls are always correct.
Look what happened in Michigan, where Bernie Sanders was 20 points down to Hillary Clinton and yet he pulled off an upset win. I expect that Marco
Rubio will do well tomorrow and hopefully he'll win his home state of Florida. He is from this county, he's from our community. And he
understands the issues of America. So I would hope and think that Florida will come out for Marco Rubio and in the end Marco Rubio will grab all 99
delegates from the State of Florida and will continue his quest to be the next President of the United States.
As far as your question is concerned, you know, we do have a large Cuban- American population here. But the Republican Party is made up of more than just the Cuban-Americans and other Hispanics here. There are a large
number of Anglo-Americans in other parts of the state where the Trump message may resonate. But here in Miami-Dade, obviously we feel that Marco
Rubio is the best candidate to be the President of the United States. We know his policies. His policies of growth, wanting to establish a better
America for us all, not only here in Miami-Dade but also around America. So, you know, we're hopeful that it will be a good day for Marco Rubio.
GIOKOS: Well, Mr. Mayor, we know that Florida has always been a pivotal state for elections. Just how important are these elections going to be?
GIMENEZ: These elections will, you know, chart the course of the next four to eight years in the United States. And so Florida really is one of the
key states. It's one of the key swing states in the nation. There are states that are solidly Republican. There are other states that are
solidly Democrat. Florida is purple. It can go either to the Democrat or to the Republican in the general election. And so Florida is key, is one
of the key states to win the presidency. And it's very important also as one of the key states as to who is going to be the nominee of both parties.
And so Florida is really a very, very important state as far as politics is concerned in the United States.
[17:40:00] GIOKOS: You also spoke about economic growth. We know that Miami-Dade has an unemployment rate of around 6 percent. That's higher
than the national average. We also know that within the poverty-stricken areas we're looking at employment as high as 30 percent. But you are
embarking on a massive construction project, and you're that it's going to create thousands of jobs. What happens after the construction of the 700
foot skyscraper is completed, which is said to come through in 2018. How much of those jobs are going to be absorbed down the line?
GIMENEZ: Well, I think, you know, this project that's behind me, the Paramount, like you said, is a 700-foot tower. It creates thousands of
jobs for the residents of Miami-Dade County. On top of that there is a $3 billion project called Miami World Center. That is a signature tower too.
That will create thousands of permanent jobs to the residents of Miami-Dade County. Thirty percent of those jobs are going to come from areas of high
unemployment here in Miami-Dade County. While our average is a little bit higher, our unemployment average is a little bit higher than the rest of
the nation, we have cut the unemployment rate down here in half. And we're creating thousands of new jobs here in Miami-Dade County and this project
will be a big part of that.
It's a $3 billion project. In terms of land, it is the second largest redeveloped of a downtown area in the entire United States, second only to
Hudson Yards in New York City. And so what you're seeing here is a great city being built before your eyes. The Miami World Center, along with the
Paramount that's behind me, is going to be a major component to that. That and many other projects that are happening here in this country.
GIOKOS: Fantastic, mayor. Thank you very much for joining us this evening. That's Mayor Gimenez.
Now one of the top editors and a reporter at Breitbart News have quit, saying the conservative site is too biased towards Donald Trump. Reporter
Michelle Fields says she was yanked and bruised by a Trump campaign manager, yet said the site had not, quote, "Adequately stood by her,"
saying, "The mission of the site's late founder, Andrew Breitbart, had been betrayed." Editor Ben Schapiro had further parting words for the current
Breitbart's chairman. And we quote, "In my opinion Steve Bannon on is a bully, and has sold out Andrew's mission in order to back another bully,
Donald Trump. He has shaped the company into trump's personal Pravda, to the extent that he abandoned and undercut his own reporter." CNN Money,
Senior Media Correspondent, Brian Stelter, joins me live. Brian, a very good evening to you. You're looking at these resignations coming through
very harsh parting words as well coming through. What is this telling us about the stance that Breitbart has to Donald Trump?
BRIAN STELTER, CNN MONEY, SENIOR MEDIA CORRESPONDENT: Yes, we've seen four people resign today, possibly more to come. There are reports others would
like to leave the site. And it's symbolic of the civil war within the Republican Party in the U.S. more broadly. You know, Breitbart is a
website that existed for many years, and is a favorite among some conservatives in the U.S. But it's been denounced for having a pro-Trump
bias. Some of the reporters quitting today are saying, "We can't take it anymore, this site is too clearly in Donald Trump's camp and misleading
people with information." I think this brings up really big important point, which is we are all only as good as the information we consume. And
lately there's been a rise in misleading, kind of "bs" on the internet when it comes to this campaign.
Now we all know we can't believe everything we read online, but even Donald Trump sometimes seems to believe some of the content that's on the web
that's not correct. He repeats it, he cites it. Well it's an example I think of a sort of dangerous climate where if the information that people
are making their decisions based on is not right, then they're actually not starting from a confident place in this democracy.
GIOKOS: What's interesting is during rallies we're starting to see violence breaking out in some instances. We're concerned about, you know,
the safety at rallies as well. And then it's interesting that a media house is now embroiled in this as well. We also see that Donald Trump has
been tweeting a lot of Breitbart's news as well.
STELTER: That's what I'm trying to get at, about this pipeline. If you have conservative news websites, some of which have dubious information,
and then Trump or other candidates cites this information. They give it a sort of support. They give it a sort of credence that it doesn't deserve.
Over the weekend there was a protester -- it's a very disturbing situation -- he rushed the stage, tried to get on the stage where Trump was speaking.
This was a protester who's been involved with left wing causes for a long time. Well Trump said he had ties to ISIS. There's no proof of that. In
fact there's lots of proof against that. He himself has said it's not true. And the evidence for it, the so-called evidence, seems to be a hoax.
[17:45:00] Seem like this kid was being trolled. People were making fun of him so they put Arabic writing on the video and they put ISIS type music on
the video. Now Trump's citing that saying there's ties to ISIS. It's an example of using misinformation in order to push a campaign narrative.
That's why I think this Breitbart story is a big deal. Trump's response when confronted with the facts yesterday was to say, "Well, all I know is
what's on the internet." That in some ways is a very scary phrase, no matter what side, no matter what position you take on the election, no
matter if you're on the left or the right, we can all want good, quality, accurate information. And what's going on with this website Breitbart is
these staffers are saying this website cannot be trusted, it is too much on the side of one candidate and that's not right.
GIOKOS: Absolutely. Thank you very much for your time.
STELTER: Thanks.
Maybe Marriott should put up a do not disturb sign next time it wants to close a deal. It's offered to buy Starwood hotels. But that offer is at
risk as Chinese firm makes a better bid.
(BEGIN COMMERCIAL)
GIOKOS: It's a shopping spree that threatens to derail a deal to create world's biggest hotel chain. A group of Chinese investors led by an Anbang
Insurance Group has made a $13 billion offer for Starwood Hotels. The problem, Starwood had already reached a deal with Marriott in November.
Starwood's stock rose around eight percent during the trading day. Starwood's board has said it will consider the new offer. The stock has
risen over the path month and a half. But it's still down over the last year.
Clare Sebastian is following the story for us and is going to explain it. Using this map and of course the monopoly hotels.
CLARE SEBASTIAN, CNN REPORTING: It reminds us a bit of a game of Monopoly, because this is not the only hotel deal that's in the works today using it
from Anbang Group. They've also agreed -- sources close to the matter tell us -- to buy strategic hotels from Blackstone. That is a hotel group
comprising 16 luxury hotels in the U.S. and we've taken this map of New York. They already, as many people know, have the Waldorf-Astoria Hotel,
that was bought in 2014. If the Blackstone deal -- the deal to buy strategic hotels -- goes through they add another hotel, that's the J.W.
Marriott Essex House at the bottom end of Central Park.
GIOKOS: You're talking about prime property here.
SEBASTIAN: Prime property here. So that deal to buy strategic hotels gives them not only this property there, but it will give a couple of other
iconic hotels including the del Coronado hotel in San Diego, California, -- some people know -- where Marilyn Monroe filmed "Some Like It Hot." But of
course if the Starwood deal goes through, if they do manage to derail that bid from Marriott, that merger with Marriott. Then they add another 20
hotels in New York. I'm just going to add a few of them on here. As I talk to you, rising to around 22 by 2018. That's part of the 1300 hotel
portfolio around the world. So the scale of this is really quite staggering if they do manage to pull off both of these deals.
GIOKOS: We know about Marriott, we know Marriott. But who is Anbang? We're talking about an insurance essentially. But has diversified its
portfolio and quite strongly into property worldwide.
SEBASTIAN: It's a fascinating story. They started in 2004. It's essentially a provincial auto insurance company. They expanded throughout
China, and gradually becoming a network of insurance companies through the country. They then started to invest their money first of all in Chinese
banks. Then they started to go overseas.
[17:50:00] Of course their Waldorf-Astoria deal in 2014 catapulted them into the spotlight. They've acquired a couple of other insurance companies
in Belgium and the Netherlands, a bank as well in Belgium, and last year they became the first Chinese company, they claim, to buy a U.S. life
insurance company. So they're very much a diverse bank. But is that investment savvy that makes them interesting. There have been many reports
that he chairman of the company is married to the granddaughter of Dung Chao Ping, that revered Chinese leader whose essentially the architect of
that country's economic reconstruction. So they are a very interesting company. Many different aspects to their very flashy investment that
they're starting to make particularly in the U.S.
GIOKOS: Fantastic, Clare, well thank you very much for joining us.
Still to come, we'll go down-market and up in the air. There's more than masochism behind Richard Quest's to fly around the world on low-cost
airlines. First, a highlight from "MAKE, CREATE, INNOVATE."
(BEGIN COMMERCIAL)
GIOKOS: That looks like quite a lot of fun. Those are some of Richard Quest's latest pictures from his epic trip around the world on low-cost
airlines. The phrase budget Airline normally conjures up images of short- haul flights with your knee around your ears. And that's not the way it is anymore. Discount carriers are adding longer routes and frills you would
typically find only on full service airlines. Richard is putting the budget airlines to the test. He's about one-third of the way around the
world. And he has left Europe behind and is now on his way from Sharjah to Sri Lanka. You can see where he is on this map on cnn.com where you can
follow along on Twitter with #FlyWithQuest. Before Richard took off from Sharjah, he told us what he's learned so far.
(BEGIN VIDEOTAPE)
RICHARD QUEST, CNN ANCHOR: Coming to the end of day three in the round- the-world trip. And so far I've been in London, Brussels, Prague, Dubai, and now I'm in Sharjah, which is another of the UAE, Emirates, about to
take a the Air Arabia flight from Sharjah to Colombo. It's our way of getting from one continent to the next.
We've already seeing some big differences about the way the different low cost carrier model is interpreted. Some giving meals, others are quite
basic, and as we go around the world, we expect to see even more differences as we head into Asia and down towards the South Pacific. Oh,
yes, those challenges at #flywithquest. Well, I've eaten a camel burger in Dubai. There was goulash in Prague, and a waffle in Brussels. And just
look at the different sights that I've seen, from the Charles Bridge to the Atomium, to the largest tallest building in the world, the Burj Khalifa.
And there's plenty more to come. Richard Quest, CNN, "Around the World in Low Cost."
(END VIDEOTAPE)
GIOKOS: And a lot more to come. Ten airlines, nine countries, eight days, $2,345. That's how much Richard's around the world trip is costing.
Taking the same trip on legacy carriers could cost more than $4,000. And of course lower fares mean less luxury. But there's more to it than just
that. The low-cost carriers save money by simplifying.
[17:55:00] First, there's no business class or first class. Window, aisle, middle and economy and those are your choices. They use one kind of plane,
and that saves on maintenance and training costs. And be sure to check your destination very carefully. Low-cost carriers often fly into what are
called secondary airports like Gatwick or Stansted instead of Heathrow. And those airports are cheaper and less busy. And that means planes can
turn around and get back in the air more quickly. Because if they're not flying, they're not making money. And there are some things the low-cost
airlines can't cut. They still need two pilots and at least one flight attendant for every 50 passengers.
We'll be back with a look at the day's markets. We'll show you the numbers in just a moment.
(BEGIN COMMERCIAL)
GIOKOS: Welcome back. Some news just into CNN. The White House has confirmed U.S. President Barack Obama has spoken on the phone with his
Russian counterpart about Vladimir Putin's order for his forces to begin withdrawing from Syria. President Obama welcomed the much-needed reduction
in violence.
We want to leave you with a final check of how the markets fared in trade today on Wall Street. The DOW turned positive late in the day.
[18:00:00] It ended with a 16-point gain and that gave the DOW its best close of the year. The broader S&P 500 closed slightly lower and it was
hurt by a two percent drop in the oil price. Meanwhile, turning our attention to European markets, and they fared slightly better. All the
major indices closed higher as you can see, and mining shares performed particularly well. Traders believe a slowdown in China's factories may
prompt the government to launch more stimulus and that could boost demand for metals. The same drop in oil prices that hurt U.S. oil stocks also
pushed down shares of European energy companies.
If you want a daily digest of the day's top business stories delivered to your in box, subscribe to the QUEST MEANS BUSINESS newsletter, featuring
Richard's Profitable Moment and all the top headlines from the rest of the CNN Money team. Just go to CNNMoney.com/quest to subscribe.
That's QUEST MEANS BUSINESS for tonight. I'm Eleni Giokos in New York. From all of us, have a good evening.
END
