hidden.llion dollars credit suisse helped u.s. --ent-side more than double clients hide more than double the thought originally created. clicked the final step in the formation of the government. that italy leading the au will be a jarring antic will be a gigantic opportunity. >> earnings breaking from the biggest brewery and plane maker airbus.

♪ hello. welcome to "countdown." >> it's just gone 6:00. a bloomberg reporters are standing by ready to deliver the stories that will drive your day. thethan ferro is watching numbers from airbus breaking right now. can they boost business? elliott gotkine has the latest from tel aviv. >> we have some big earnings interviews for you. company earnings this hour, we will have an exclusive interview with the company's ceo. chiefchat with the executive of the second largest

u.k. homebuilder. more on his company's latest it's of the uk's largest professional recruitment agency also reporting today. will join the second hour on "countdown." >> let's get the breaking. airbus releasing its numbers as we speak. just reporting those numbers and jonathan ferro is here to bring down the details. income, revenue coming in five percent higher. 59.3 billion euros. income rising by 22%. full-year earnings interest before tax, 3.6 billion euros. dividend to $.75. the game for the charges, here

we go. 434 million charge for the a350 and restructuring. this is the double long-haul plane. if you are going to america or another nice destination, this is the plane. it will go head-to-head with the dreamliner and costs have been mounting. restructuring, they have put this unit into one. you've seen the charges, 434 million euro or the a350. calexico is a huge range in terms of analyst expectations. -- >> it is a huge range. i'm wondering how that will go

down with investors. of the units.ing >> they are pitting the airbus at the front of the company. >> hence the new name. we don't talk about aeds anymore. gave the employees t-shirts apparently when they relaunched the name at the end of last year. airbus can fit on a it t-shirt itsn a t-shirt but aeds in true form cannot. u.s.nts on brazil and the and what they are looking for ahead of earnings. or fifths of profits come from the region. offset by a winter. brazil beer volumes and they

have seen solid growth in china. the mexican beer market returning to growth as well. let's look at the figures. rising.revenue analysts estimated 4.4%. growing atr volume -2% when the analysts expected -.7%. verses 13% increase expected 10%. u.s..the comments on the art make budweiser, stella ois, corona as well. they bought the rest of grupo modelo. completed last

year but actually made in 2012. they are seeking to cut $1 fromon in costs by 2016 modelo. news on that today says most of those $1 billion of cost savings of 2015.ade by the end earnings beating estimates. beatingrevenue growth as well. interesting comments from the u.s. and brazil. the brazilian volume is improving offset by the first quarter. from abn bets -- ab inbev. they are turning to craft beer for growth. the demand for mainstream beer stagnates. in international correspondent hans nichols.

>> this is just an excuse to talk about kraft here because it has changed so much. ,ook at the revenue numbers this is about half of what microsoft has. it's remarkable to me how big the numbers are. here's a quick tutorial on american be er. blue moon, leinenkugel. they are owned and operated, and distributed, by big brewers. you look at anheuser-busch inbev and they control 75% of the crafts market in the states. you look at why and that is where the growth is, craft year. some of those behind the craft hipster beers, goose island, blue moon which is a wheat belgian. ditto for leinenkugel.

take a look at sales by volume. it is up 16%. branded beer is down 1.7%. is up 67%.d we are still talking relatively small here. about sevens percent of the u.s. market. bud light has almost 21% of the market. the pricek at differential. goose island, chicago-based, for one case retails about $33. a case of bud light, $21. received an important plug. goose island, the preferred beer of president barack obama. you have small crest breweries that get popular, need a bigger network, and they get by out. they do not stay small and

crafty. we should ask anna if she prefers blogger or beer. bitter? -- lager or beer? >> wine, i'm afraid. hard-to-reachse customers they are still trying to market to. an explosion in brazilian car theft proving a boon to one part company. our middle east editor elliott gotkine has more. company based here in israel, this used to be the there isarket but now more and brazil. there is an increasing number 140 out ofg cars but 10,000 cars in brazil are stolen , 40% more than the next worst country in terms of car theft, south africa. i've been speaking with the chief executive and i will tell you what he told me and bring

you the information and half an hours time. >> we're talking volatility in emerging markets. our next guest says some are stronger than others. ♪

>> time for today's company news. credit suisse helping american companies hide up to 10 billion dollars in assets from the internal revenue service and this report and the justice department failed to use all of the legal tools in the pursuit of credit suisse. they have agreed to access at least $5 billion of argentina appropriation unit. argentina will issue as much as $6 billion in bonds and they can sell or hold until maturity. it still requires shareholder approval. he said he would eventually consider spelling off for -- sel ling off or spinning off. they haveonsider once

build them up into a more fermentable competitor. he was speaking at the mobile world congress in barcelona. >> running a public company, anything to help our shareholders, i need to take a very serious look at. today, i think we need to build up that pace. "countdown."to >> six 14 a.m. in london. volatility in emerging markets as investors concerned about the effect on the developed world with some emerging markets are more resilient than others. let's bring in the global chief from ubs. officer alexander friedman joins us live from zürich. thank you for joining us today. alexander, do you think the games we've witnessed in u.s. stocks, almost at record highs, are warranted given the volatility and emerging markets?

>> bottom line, yes. emerging markets you have to put into context. gdp014, we expect 3.5% growth worldwide. of that, the emerging markets, when you take out china, are only five percent. it's a small portion of the overall story. the real story is what happens in china. the headlines have been scary. why have they been? it's really because of the five fragile companies. >> let's talk about china. how worried are you about the measures being taken by the chinese government to try and slow things down intentionally and china? what are you factoring in terms of chinese growth? expect a little over 7.5% growth. i have confidence they will come in somewhere around 7.5

%-8%. draw ine line i would the sand. below that, we have a different story. autumn line, china will be able to manage growth this year in the neighborhood of 8%. >> credit market gauges in china are triggering alarm bells all over the place. a parallelawing between what's happening in china to what happened in the u.s. in the run-up to the financial crisis when you look at credit. do you draw comparisons between the two? >> i certainly hope that's not the case. i guess i would not compare it to the united states. one might answer that question, , is let's assume china has to recapitalize the entire banking sector.

that would cost them were around $1 trillion. analysis, the questions are what kind of linkages to chinese banks have to the rest of the world? it is contained. we do not think it is a contagion threat. in the so-called double deficit countries, they are quite small in terms of their exposure to the developed market angst. opportunityke this to buy more emerging-market equities right now? intoe you still buying other equity markets, more developed markets in the u.s. and eurozone? >> it depends on your timeframe. over the next six months, i don't see a lot of triggers that will send the emerging markets story into a by scenario. i would be cautious.

the valuation discount is about 30% and that is attractive. and lot of contagion risk that is psychology with the ukraine and other stories is scary so i would be cautious to neutral on emerging markets right now. have thena does not risk of contagion, you mentioned the fragile five, which might present a risk when we talk about the contagion to emerging markets? >> i don't think any of the fragile five are a risk in the developed markets for a couple reasons. they are tiny. take argentina and venezuela and put them together, less than half a point of global gdp. they are really small. it is just five percent growth in 2014. the story and something like the ukraine is really idiosyncratic. they will probably need a rescue package from the imf but they

get there they need a thisioning government and is a very dynamic, evolving situation. the ukraine should not represent a challenge to any of the developed market banks or the local recovery story. these crises can start in small countries. the asian crisis started and many people would argue that was back in thailand in 1997 and it had further reaching consequences and we arguably live in a world that is more it now. can you see a situation where a slowdown in emerging market economies will have a feedback on to the developed world? >> it's very different than the late 1990's. there were not enough foreign reserves to handle the money leaving to finance the deficits. key point i would

emphasize is let's go back to 300% of the total capital exposed to latin america. today when i do the analysis, all of the developed market angst have about 70% of their capital exposed to the emerging markets overall. the short answer is we just don't see a banking crisis contagion risk from the emerging markets right now. >> alex, thank you for joining us today. friedman, cio, from ubs wealth management live from zürich. >> we are getting numbers from the dutch nutrition business. fourth-quarter revenue coming in a touch billion euros, ahead of the estimate of 2.35 billion. , 316 million euros in

the third quarter also just ahead of estimates. these are the final results and they are increasing their dividend repeating the aim to offset negative currency impact, something that they warned about back in january. it is something of a move downwards in the share price. lots of focus on the business they are trying to develop down to emerging markets and we will ask how that's going when we speak to the ceo of dsm later in the program. >> just ahead, what does it feel like to earn $1 billion overnight? elon musk knows. waking up $1 billion richer today. ♪

>> welcome back to "countdown." >> the time in london is 6:24 p.m. -- a.m. whether it is water, beer, or copy the results are usually catastrophic. technology being developed in the u.k. can waterproof your electronics. drop a cell phone into water, water gets into the device very quickly and causes corrosion.

often it can be catastrophic failure so there is no way of recovering. we have a technology that provides a protective layer inside and outside massively improving. the background is actually in military technology to provide coding to military where to nerve agents but also environmental threats. in 60 million electronic devices from bluetooth headsets, tablets, mobile phones. the technology works and a .olecular scale it can penetrate very freely into the structure and provides a covalent attachment through the entire device. there are other smart phones out

there that are advertising waterproof protection. they are using a barrier using gaskets in the drawback with that is when everything is compromised, the water gets inside and that is the failure. the water still gets into the device that it is not preventing water barrier access. it tells that very well. it is an absolute necessity. the operators really need this. every time it comes back with that, they risk the maturation. >> have you ever dropped your smartphone into a glass of wine? >> no. >> coming up, a bloomberg

exclusive with the chief executive from dsm. ♪

.> i'm mark barton credit suisse helping hide as from the10 million united states mud and double the amount previously known. credit suisse chief executive brady dugan will testify later. italian prime minister renzi breezing through a final vote of confidence clearing the way for his new government to begin economic reforms. 370on the vote of a vote of eight-220. he cleared the senate by a slimmer margin -- he won the vote 378-220.

aidine is seeking financial following the ouster of president yanukovych. she says she is ready to engage. hello. welcome to countdown. i am mark barton. tesla boss elon musk has a few reasons to wake up with a smile on his face. he's more than $1 billion richer overnight. his car won a major accolade as well. zeb eckert has been looking behind the headlines. >> good morning to you. certainly a strong performance for his company, tesla. adding $1 billion as the stock value of tesla and the solar powered company with an interest

closing at records. he has one of the biggest battery factories on earth in asia. elon musk tarted selling the electric model s sedan and tesla market cap is more than half of gm and ford. to add to the accolades, it received the highest u.s. safety rating and the best overall car ranked by "consumer reports." it is costly and not available in every market at its coming to china later this year. what does panasonic do in this? >> they will build what may be the biggest battery factory. the lithium-ion batteries that power the cars. elon musk has been talking about

that in today in the nikkei news, there is word that they will be the partner. panasonic surging more than 5% in tokyo today. we will see if that happens. >> zeb eckert live in hong kong. we just had earnings from dsm, the largest vitamin maker. >> we are joined by the chief executive of the company, feike from headquarters in the netherlands. great to see you again. thanks for joining us. let's talk about foreign-exchange exposure because this is one of the thought twice about your stock because you had negative headwinds. you have given us some numbers around that today. are things getting better or worse for you and foreign-exchange right now? rate isoreign exchange

a pretty public thing, of course. at this moment, over the months , ajanuary and february stronger euro especially compared with the second half of q4. as bc the foreign exchange rate or the strength of the euro, as we had in january, i cannot foresee in a crystal ball what it will be for 2014 but let's look at january and we would head comparedion to 2013 and that is just a fact. i don't know whether that will materialize based on the assumption that the foreign exchange rate will be the same. we need to see whether if it is true. the euro is pretty strong. if you looked one year ago from

davos, for example, a lot were issuing -- eschewing that it would fall apart and one year further receive the euro against all other currencies pretty strong. people reporting in the euro and assets in europe, we have had a stronger europe and it is being hit by that. ke, let's talk about your emerging markets strategy to get 50% of your sales from high-growth economies. with the stress that we have seen in some emerging markets, do you sense things are slowing down in some of those key economies? we'll see that the emerging economies are slowing down somewhat. factor we can follow in the emerging economies. brazil is slightly above 2%

where as a few years ago it was north of 5%. withdrawingare not all of their strategy in the emerging-market economies. economies are growing much faster than the western economy so we need to continue to grow the company and there is more growth potential in emerging economies down the western world. we will continue that strategy. if you look at the world, dsm is very well positioned. in the context in which we see the global economy, the exchange rates, etc., we had a solid profits were up in the third quarter and we had positionselp to buy mainly on track and integrating those. we are developing new business

and we have a very strong generating more cash especially on the fourth quarter. we have a good shareholder return. even people rave little bit concerned about the exchange rate. the share price increased in january, but you see a pretty good share price and performance for our company. the industryt returning, we announced we increased that again 10%. i think we have a good return to our shareholders. >> can i ask you about the various industries that you supply? you are in animal nutrition all the way through to construction, a full range of business areas. where do you see the best opportunities right now? even with some of the heads , food and beverage

being softer, etc., over the long run and even in the medium run, food and nutrition will continue to grow. as long as the number of people is growing and is no plan to reduce that, then of course then the nutrition business will continue to grow. connected to the growth of movement the growth of to the urban areas and realizing it is moving to the urban areas we lose the food producer and we gain a producer. in the coming decades, it will increase to 75%. nutrition is clearly a growth area for the company. at this moment, we also see some slight recovery in automotive

and building construction in the united states. markets that need recovery and on our end, we need to remain focused. >> thank you so much for joining ceo ofy, feike sijbesma, the sm. >> credit suisse may have helped u.s. customers hide billions in assets. details after the break. ♪

>> time for today's company news. j.crew is said to be interviewing banks about an ipo. they have more than 450 stores. ares of dreamworks tumbling after a drop in fourth-quarter revenue. "turbo" were disappointing. this is the most competitive feature environment he's ever seen. they will withdraw world cup t-shirts after they complained

it a link to the country with sexual activity. the world's largest --second-largest sports company said they were only available in the u.s.. >> 643 a.m. in london. brazil is also the king of car crime, bad news for owners but makerews for the israeli of car tracking devices reporting record earnings largely thanks to brazil's auto theft explosion. middle eastern attic or elliott gotkine has more. with theen speaking chief executive? >> their biggest market thanks to this explosion of auto theft, brazil is just as important. of 10,000 vehicles are stolen, 40% worse than the

second worst country, south africa. the chief executive says it will continue to be a very good market for them. very attractive to us because of two main reasons. brazil is becoming a more western company. more insurance companies are involved in more car manufacturers are involved. more people are using cars. on the other hand, still emerging markets. ,hen there is a lot of poverty there's a contradiction and cars ande stealing they want to use solutions to secure themselves. >> brazil a country of 200 million people, and attrition rates for auto tracking is still a very low. in israel they are and about 80%

of the market. >> i suppose technology is vital to succeeding in this business. is acting on it and getting customers cars back. >> indeed. they have changed their strategy a little bit working with insurance companies and car manufacturers to get their gadgets into people's cars. and some cases, apparently people stopped paying the car insurance. in israel, if a car gets stolen they have to chase it. if it does not get back within 25 minutes, it goes to the west tank and they may never get it back. >> they rob the driver and leave them on the road. once they call us and identify themselves, we shut down the

engine from our control center. then we send the police and they recover the car by themselves. we don't have to chase the car. we are not allowed to do it. it's more difficult in israel. >> one final interesting thing. it's more of a currency play. people are using it as an investment and is a bit of a currency hedge as well. >> middle eastern editor elliott gotkine. >> credit suisse helped u.s. customers hide billions of dollars in assets. here with more is hans nichols. what was in the report? >> we have a lot of numbers in the report that we would get to. $10 billion is the amount of $12 billion.p to it is the details that will sustain this narrative and make

his morning in front of the u.s. committee in front of two tough interrogators difficult. here are some of the allegations. elevators meetings in and shredding documents. one customer was given a oftement hidden in the side an issue of "sports illustrated." we are talking about 238 account holders. they said they had a team of 1800 employees at credit suisse actually looking into it. criticalt is just as on the u.s. department of justice for not bringing more charges against credit suisse. the bank paid 190 $7 million to settle some of these claims. the bank wants to co-opt rate. will not let up. here's a statement he put out last night. sam.owe uncle they owe the people of the

united states. simple justice requires that they must come clean, pony up, and face the consequences. he report concludes that 22 thousand accounts opened, 85%-95% may have been hidden. 1800 bankers servicing and that will be a question that brady dougan will have to answer. only 10 of the employees have been disciplined. that is what he will be challenged on today. what has he done to write the culture of the bank? senator john mccain calling it systematic, a culture and the bank that led to this. dougan will have a very difficult morning. >> there could be another probe into this matter from here. they could have their say as well from the sec. >> a very interesting development overnight. one of the allegations in the senate report is that they were

not quite honest about with the private banking unit was doing. typically the reports are all bark and no bite. they don't have a lot of power to inflict damage. a person familiar with the matter, the sec is considering a probe opening up a legal avenue getting not just criminality. they have their work cut out for them. it will be difficult for the second largest bank. >> hans nichols with the latest on credit suisse. papers,ding to some fbi he might have had a hand that made caches play famous 40 years ago. the newspapers are next. ♪

>> welcome back. > its newspapers time. elliott gotkine and hans are here. >>t have you got for us he? i should apologize to anyone who is sensitive about the second world war. this is in the jerusalem post. he is standing alongside angela who was here yesterday and taking a question from the press corps pointing to someone in a

rather unfortunate shadow falling across the upper lip of the german chancellor. the photographer from the jerusalem post said when he saw it found a little amusing but did not intend any offense to the german chancellor. it is a sensitive issue here and in many places. this photo has gone completely viral. when it comes down to it, that was the only newspaper article i would show you today. anna's ties in nicely to story. >> i have another story about angela merkel of a completely different nature. this is a story in "the guardian." special relationship normally referring to the u.k. in the united states but this time between the u.k. and germany. here she is hugging prime minister david cameron. now refers to

david cameron as "her naughty nephew" suggesting that there was a nice bond built between the two. they were talking about midsummer murders, a tv series, which apparently david cameron handed to the chancellor. apparently she likes this detective drama. it's her favorite. tense one.n been a david cameron tried to step away from the allegiances within the european union. >> she seems more open in these treaties that they are trying to push ahead of this referendum. she seems more open to the idea.

>> the guardian reporting here ready to offer cameron the limited eu handout. >> what do you have for us, hans? >> nothing to top the naughty nephew. ofwill talk about the future the berlin airport delayed until 2016. airport problem yet they will have the biggest hotel skyscraper in berlin, 175 meters high. how will all of these people get the berlin if they still have an airport rather small. tegel, i love it. you can get in and out very quickly but not befitting the capital. >> a certain fight took place

launching a boxing megastar. his name was caches play fighting sonny liston. mohammed ali was launched. his name was caches clay and some fascinating fbi files were released yesterday that said fight fixed. the -- cassius underdog and7 to 1 the implications are that maybe the fbi was involved and liston and a famous gambler made $1 million each. do with thehing to fix. the fight that launched one of the worlds's greatest boxing talents, probably the greatest, could have been fixed.

>> fascinating. we will have more on how credit suisse may have helped u.s. customers hide billions in assets according to a new senate report. ♪

dachshundlion re: billion dollars hit of your -- it hit in the. of according to a new report, -- s -- credit suisse in the formation of the government. italy's six-month stint leading the ee will be a giant opportunity. we don't think that it is a formality. we do not think that europe is our enemy. tworeaking news from

british businesses. >> welcome to "countdown. i am mark barton. >> and i am anna edwards. we're getting some breaking numbers coming through from various businesses. nothing from taylor wimpey first. first off, net fees up by 1% to 363.4 million pounds. we have heard a lot about this business in recent weeks in the last time we talked to paul venable, the geographical differences between the australian business sought suffer a little more. he was positive about the u.k. business in the last time we spoke to him. it was the first time in six years they have been seeing a tick up in permanent employees

in recent years. there was a big increase in candidate confidence and that was the backdrop to be strong performance they were reporting. let's get more details on the numbers. net fees up 2% and the operating profit is coming in at 67 -- 66.7 million pounds. the yearst half of they delivered 60.3 million pounds. they are proposing a dividend of 0.83 pence per share. last time we spoke to paul venable he gave a upbeat assessment of the u.k. economy saying that all sectors were doing pretty well. they were saying strong signals from all of them. he was talking about strength in the eurogh economy, the turnaround of the spanish economy. they continue to talk about that upbeat fashion this morning saying the conditions were improving across several other key markets.

>> a quick check on numbers from taylor wimpey, the second oldest home bigger in the u.k. operating profits for the full year rose by 39 point one percent. analysts were estimating an increase of 37%. operating profit has beat the revenue by 13.7%. analysts estimating it at 12%. this is one of many builders benefiting from a buoyant property market in the u.k.. performance rose by 8.4% last year held by government back steamed -- schemes. is theose schemes last? u.k. economy facing imminent increases in interest rates? lots of issues to discuss with the chief executive officer in a a few minutes time. we will be speaking to taylor

wimpey ceo peter retford in a moment. >> let's talk about what is happening with pet -- credit suisse. a quarter report, they help them find -- hide millions of dollars in money. hans nichols joins us from berlin with the details on the report. >> the numbers are eye-popping. 10,000 u.s. account holders. credit suisse at 18 have -- 18,000 employees servicing them. the hardest part for brady dugan will be the narrative. it will be the details that come out. ofy hid accounts inside envelopes. they had secret meetings. there are allegations of shredding documents. this'll will be a very difficult morning for a bank that is are ready paid hundred $97 million to settle these claims.

they will also face charges that the u.s. department of justice simply did not do enough to follow through and probe what is happening. all the senators are going to be tripping over themselves trading indignation spirit is a be a challenging morning. there will be fireworks. we will get his testimony just before he gives it. how answers will be a crucial and difficult a. all -- day. the international monetary fund director said the imf is send a team to ukraine sue bird we are joined on the phone from tf -- kiev. what is the financial situation like five days after the revolution?

it is pretty precarious. >> we had a meeting yesterday with the central bank governor. it was the first interview he had given in the week and he was giving interesting numbers. cap wished -- cash withdrawals fell 7%. he gives you a sense of the financial panic that really battered the financial system at the end of last week. that situation has stabilized and they are still desperately trying to persuade the ee you and the imf to give them a bailout that might be worth as much as $35 billion. for that to happen they need to form a new government and that has not happened yet. >> what are the prospects like for a bailout? >> it depends on who you speak to. there is a sense coming out of kiev that all they need to do is put together a government and it will get the money.

they are aiming high with their $35 billion request. that it to bear in mind is a slamdunk that angela merkel will be delighted to hand over the money. it was hard enough to persuade the german paul lent -- are limited to bailout greece and it will be harder to actually get this.oney for it is not a done deal and it feels like there is a long way to go before ukraine can count on this bailout. >> we will speak to you again, thank you. let's take a closer look at some of the earnings we have had out this morning. a look at some of the businesses behind them. we will talk about some of the companies reporting, airbus among them. james buckley joins us now in the studio. let's start with airbus. do you like this company at the moment? >> we do. we are very positive on the civil aerospace segment.

we believe it has the potential to grow mend the next couple of years above gdp. airbus pushed the name change towards its orientation toward civil aerospace. >> any concerns about the restructuring charge? do you think that will be the story today or are investors expecting to look through restructuring charges and look at the profile of the business more broadly? whether they're going to be --cific charges on the a350 the overall numbers can be impacted by a lot of exceptional spirit the number they reported, which appears to bond together with the restructuring and the a350 charges looks like it is coming in at the lower end of the wide range of expectations. what is important for airbus is the delivery of the a350. it is expected to be delivered to qatar in q4 of this year.

hopefully i will get an update on that and whether it remains on schedule because it is the key. >> this is a slimmer airbus. this is a company that will risk.e less program some are saying maybe the targets are a little bit testy, positive cash flow for this year, payouts equal to 40% of net income, a 10% operating margin. are they reachable? >> the margin has considerable credibility. 2013 was a year of delivery for airbus. the order pipeline was strong and the back love is -- backlog is up to nine years. at the airshow they had a positive order flow. good targets are but they need to keep delivering and update the market positively on the a350. when it comes to in beds, two

, two markets,bev the u.s. and brazil. 80% of their earnings come from those regions. it sees growth and mexico in brazil. good news if you are a shareholder. >> the market was very focused on what guidance would give for brazil and the u.s. for 2014. in the case of brazil, the comparables are favorable. and there is the world cup in q2 which increases people's percent -- propensity to drink beer. the u.s. is a more competitive market. it looks like a be in dev is stepping out -- ab inbev is stepping up in the marketing. >> doesn't seem to be a positive impact in brazil, a negative one

of the united states. things have been cold there and the first two young -- two months of the year have not been easy because of the cold weather every people drink less peer when it is cold? >> i drink near any time. isthis is a market that classically exposed to emerging markets. are you playing those stories at the moment, the businesses that have a big presence in developed markets but have been growing hugely and emerging markets when people are worried about a slowdown? little have relatively exposure to the recovering european economy. the long-term potential for emerging-market consumers to drink more beer is intact. in the near-term, currency issues in emerging markets have prompted them to be slightly out of favor with investors in the last 12 month or the issue with them is around valuation.

despite modest underperformance, it trades on a big premium to the market. it trades at a premium to the broader consumer staples select -- sector. going forward, they need to deliver on integration elephants integration-- benefits from modelo. earlier thatt in january of this year, the volume of deals is three times greater than the entirety of last year. -- do we large part by expect more strategic deals in the drink space? >> is a long-term consolidating injures three -- industry. >> thank you very much for joining us. fromming up, earnings u.k.'s second oldest --

second-biggest homebuilder, taylor wimpey. stay with us. ♪

>> welcome back. you are watching "countdown." let's get the earnings from u.k. homebuilder taylor wimpey. we are joined by peter redfern. good morning. thank you for joining us. >> good morning. no problem. >> operating profit was up 39%. pretax profit up the most 48%. revenue up 14%. how can you beat that this year? 2013 was always going to be a great year for us. we had been working on a new strategy, we had new products, four years of buying land in a new environment. we are confident that we begin continue that momentum in 2014 and 2015. there's a lot of left in the business to show. >> a lot has been said about

what is happening in the southeast in london. give us an idea of how you are doing outside of those key areas. talk to me about the midland, the north, and scotland. >> we are very much a national homebuilder. we have business units from exeter to edinburgh. we do cover the entire country. we like the fact that we cover the whole country. we are seeing increasing strength in most markets outside the southeast, from the middle of last year you saw on bromance in the midlands and the final quarter you begin to see them in the northeast and scotland. by the end of the year, we are seeing those improvements starting and whilst -- in wales. the quality of all inside, and some of the government-help homebuyers, a whole mixed that is contravening to a healthier environment. eh speaks positively of t

economy as well. we have always said that the help to buy scheme is effective as a relatively short to medium term help to what was a troubled mortgage market. a cliff edge withdrawal is not healthy because it is reasonably successful and scale schemed. we would not want to see it continue long-term. ofh the current planned and the scheme in 2016, we would not like to see it extended long-term or we would like to see some sort of hyper affect over the course of 18 months that means homeowners did not go from having a sense of a reasonable scale to not at all. a steady reduction seems sensible. >> do you think the market is looking frothy in various areas? the key ones being london and the southeast.

using the word bubble, are people bandying that word around to freely? people use it too easily. if you exclude london, which i will come back to, then you are average selling price growth after five years. is following a downturn where they fell 20%. a bubble.tion is not in london, you have different conditions. a bubble tends to be unsustainable and you have in london a strong level of demand from all sorts of sectors. that market has increased significantly over a longer. . the issue in london is not so much about it in a bubble. it is about affordability, and availability of property to live in. >> london is being driven by overseas cash. do you think that might dry out

because of recent emerging-market volatility? >> the extent to which the is driven by overseas cash is slightly inflated. it drives prices in certain inner london, high-value areas. for london as a whole, that is where most of our businesses. we built about 900 homes in london but most of them more in the outer boroughs and relatively afforded -- affordable in london turns. it is not like it is a nonissue but i think they are slightly exaggerated. if you asked me if the level was reduced, i would say probably as what we have seen conditions change around the world, london is an attractive place and the exact source of overseas buyers changes but there are lots of areas where people see london as a very attractive market. rates, if interest

the bank of england was to raise rates in the next year, can borrowers were stand it? orrowers withstand it? can they withstand in interest-rate rise? yes. they are at an incredibly low level and have been for some time. but can they withstand high rates, define high. -- if it is a very significant moment, there will be significant impact. i think it will be slow and incremental and a lot like the help to buy western. some sort of phasing is critical to making sure we enter a new phase of the economy so the interest-rate rises steadily instead of in a rush. >> peter redfern, the chief executive officer of taylor wimpey.

sharesng up, blackberry climbed up and the ceo says they may sell its messaging unit. ♪

welcome back to "countdown." >> blackberry shares climbed as much as 11% yesterday. that is after chief executive john chen told louisburg he may consider selling off the messaging unit in the future.

news at hyde broke the the mobile world congress. she is back in london with us now. she has had no sleep whatsoever. there is now more focused on the value of the messaging service after the whatsapp effectively -- deal. rivals but also blackberry as 85 million people using the bbm, the free messaging service. to whatsapped violation, is worth $6 billion. i asked him if he would consider spending the unit out and he said i have got to. company --a public anything to help art shareholders, i need to take a very serious look at. that is a serious point. i think we need to build up that

they send build up the engagement model. the point is, i think the , whichal tie to our best is our enterprise focus, it is going to be huge. until we get to the point where we can showcase that potential, i think it is too early to think about getting our 19 billion. >> that's six times bigger almost. with the growing weight that -- growth rate that blackberry is experienced in, it would take until 2019 to experience that. for blackberry, the nsa revelations have been something of a positive thing. he is riding the wave, he said. he found that in separate cisco, no one had prepared for privacy until it was too late. suddenly, everyone is back on blackberry. no one has got the security of a messaging service that we have.

we could see more people focusing their attention. >> more insights on the latest earnings -- paul venable is next. ♪

>> these are the bloomberg top headlines. credit suisse help american customers hide as much as $10 billion in assets from tax authorities. that is according to a u.s. senate committee. that more than doubles the amount revis a loan. chief executive brady dougan will testify in washington. >> there was a final vote of confidence in italy last night. that begins the way for the government to make way for economic reforms. he won the vote 338-220. he has cleared the senate by a slimmer margin. the in a terry monarch -- international monetary fund is

likely to send a team to ukraine superagent the imf managing director says she is ready to engage. >> welcome back to countdown." hayes reported earnings about 30 minutes ago. it said conditions are improving in several key markets. we're joined by paul venables. good to see you. traditionally it has been temporary that outpaces permanent, but they are both firing on all soldiers -- cylinders. >> this is the first time we have had growth in both sectors but it is perm that is the most exciting part going forward.

our profits are up 15% so we took a bit of growth and converted into profitability. we did that in u.k. and parts of europe. much longer. >> key market improvement across several key markets. which ones are doing the best? >> the u.k., without doubt. it is our largest market. we have had a difficult backdrop over the five years. we are seeing real strength and improvement for four consecutive quarters in every part of the u.k.. it is not just london. in 2010 we saw an improvement in london only. is time it is every region. >> where do you see the candidate confidence coming through? is it everywhere? >> when it started off, almost 15 months ago, we saw the start of growth. we were 19% up in construction property. ofally i.t., which is one the bellwether brands. all companies have i.t. professionals.

we were up 15% there. i think the importance is every single region grew. >> how much catch-up is this u.k. storing playing for you? how much does it feel like pent-up demand, people that wanted to stay in jobs because they did not feel the market was ready for a change? >> we are a musical chairs business. we are dependent on people being confident enough to change job. we have three or four years of strong growth to come in the u.k.. we track a number population groups. with five years of experience, who have been in 3.5 years more than any of their predecessors. it is time for a fresh challenge. we will get an increase in gold. >> it is an economic recovery, which we will hear more about a

9:30, but from what you're saying, it could be sustainable. >> i think so. some parts of construction which we could have an interesting debate on. you did with your previous speaker. we are seeing all of our clients -- if they lose an individual from their business, a professional individual, they will replace them immediately. there is no caution about, do i wait for one or three months? we are seeing more candidates that are in jobs register with us. >> it is not all construction and estate agents. let's look at the rest of europe. i was surprised to see continental europe is up 6%. where is the trend coming from? >> takes pain. it is a good example. we were up 18%. that is not people in spain saying this is a fabulous world. i take real risks with my life. people are saying, the economy is the way it is. i cannot delay changing jobs any

further. i'm not enjoying the job so i'm going to look to move. we see that across movement -- across your. europe.re >> we are a good forward and his surrogate for the consumer. you've come back from two countries i want to hear about, one is australia which has been week. will 2014 need the year where the employment picks up there? >> we're very confident we will blossom in the next two or three months. in april, i will guess we will have been stable for four or five months. i do this trip four or five times a year. his most positive one i've had in two years. it is not a review of my own business. i meet a lot of business leaders in different industries and they are focused on growth for the first time. it has been tough.

we were down 16% in australia-new zealand but we have an flat for the next three months. >> is that growth away from mining or where is that? >> new south wales will drive the australian company -- economy out of the debt. they are picking up manufacturing areas. you saw the closure of gm, toyota, ford, etc. pulling out. we need stability and that is what driving us. >> we have seen a pickup of wages in japan. that is the most important thing. required for the economy going for. >> i think japan is interesting because in many respects the government is doing the right things but they are not yet seen the results they want to see. we're certainly seeing a more confident employment base. we are seeing clients that are focusing much more on retaining good people. it means that the good people will continue to get wage inflation. i think wage inflation will be a

common story across the world. for 2014 versus 2013 -- a lot of parts of the world, including the u.k., is i think we will see wage inflation outstripped prices which should reinforce strength in the general economy. >> you have been talking about diversifying the long-term aid to grow and diverse five the company. is there a way you want to diversify it? >> japan is a good example. we will make him 06 main pounds in japan. it is an interesting market. it is a market we are being aggressive and. as well as our top three markets, we have four markets, japan,ng canada, france, brazil, which is looking to be more aggressive in our revenue investment in the next two years. >> thank you for joining us. paul venables, the finance director at hays. >> these two daredevils got up close with christ the redeemer. ♪

>> it is time for hot shots, a look at some the most compelling images of the day. passengers aboard the international space station have an amazing view of earth at night. that dark spot is not the ocean

-- it is north korea. with the lights turned off, the country of nearly 24 money and people disguises itself as a gap between china and south korea. ghts inll blip of li the middle is the capital city. to daredevils decided to get close to the christ the redeemer statue. when win over the statue, the other went under. they sure got quite a view. don't worry, the machine ha ven't quite taken over yet. after attending robotics classes, a schoolteacher in iran built a robot to lead students in their daily prayers. welcome back.

how long before we are replaced by robots? >> there is no way that robots at hand.the next task let's talk about the markets. a little bit of concern up what is going on in china as demonstrated by some important market metrics. >> i figure conversation with poignantdman was very and he hit the nail on the head. are you concerned about what is going on with property lending in china? they have done the math. they have enough money to recapitalize the banks but why are the chinese -- they are moving their currency. property curve, lending to property, the squeezing the enterprise markets, it is reminiscent of what was happening in 2008. that is a big statement, isn't it? it is there and it is something

that we should be well aware of. futures across the markets undecided. it could be interesting. >> we will get the u.k. gdp. let's talk about companies that have reported today. airbus -- >> john farrell is all over the story. when we walked in this morning, it is all about the a350 -- the a320. and the uplift that we have in terms of delivery and the workhorse. the demand is fuel efficiency. then interesting report on future of ffr. we talked about the future of vivendi yesterday but they are adding a new twist. that frenchtand authorities have already betweend that a merger

could posem and sfr problems. keep an eye on that one. will happen next in the telecom space between sfr, and vodafone. it could be around vodafone but not today. >> we will see what happens with that. let's get back to you, mark. breath -- ab inbev, maker,ld's biggest beer is turning to craft beer growth. but go to berlin and bring in a man who has had a few craft beers in his time, international correspondent hans nichols. on german beer, they do not do craft beer here in the same way that they do in the u.k. or the states because they have such strong german purity laws

on how you brew your beer. you can put lavender or anything like coriander into a beer. that aside, let's talk about the .abels in the states very popular places like goose island, labels like blue moon. they have one thing in common -- they have big companies behind them. 75% of the market of craft beer orin-depth -- inbev course-miller. have corner the market because -- they have cornered the market because they see the opportunity for growth. blue moon, coors bird. -- brewed. take a look at u.s. sales by volume. craft beer in 2013 grew 16%. amongg brands down 1.6% what light, coors light. goose island brands in itself

grew 69%. we are talking about a fraction of the market, 6% or 7%. but light on its own is 21%. two out of every 10 beers ordered in the united states is a bud light. goose island, i am a fan, so is president barack obama. it was bought a few years back for $38 million. compare a case which is 24 beers, $33 for goose island, $20 for bud light. there is a price differential. there is more in labor and -- labeling and marketing. craft beer seems to be the future of the usb or injury and yet it is the big guys behind it. >> do you like lavender in your beer? you spokeabout -- about lavender flavored beer? heree german purity law means you can only have hops, barley, water, and yeast in your beer.

more flavorttle bit when we you tweak with a few things. i will not come clean on whether i like lavender in my beer, maybe a hint of coriander. were you get these flavored beers that are taking off elsewhere, and i know you like the free how sales -- free house ales. some craft breweries will be coming to germany. the german stick with what they have. >> have you had a pint of bitter yet or have you not venture that far? >> love it! love it! it reminds me of a past life when i was sent to india to put down a rebellion. no, the india pale ales are great. they are not so carbonated -- we should do an entire show on english beer. he ales are fantastic. >> i don't know, hans. we are finding out things about your back story that i don't think we need to know about.

hans nichols with the latest over in berlin. lavender in your beer? that doesn't sound very masculine. >> that is why he like coriander. we will have more on airbus. ♪

back.come

this is countdown. >> 7:50 in london. dropping your phone into water usually ends up in catastrophic results. it does not need to be. technology developed in the u.k. can waterproof your electronics on a microscopic level. >> when you drop a cell phone into water, water gets into the device very quickly and causes corrosion damage to electric parts. often it can be catastrophic failure and so there is no way of recovering it. we have a technology which is a nano coat technology which provides a protective layer to the inside and outside of of electronic devices. the background of the company is in the military technology. it provides coating to military clothing. it prevents the soldier from

attack by nerve agents but also environmental factors. the technology works at the molecular scale under vacuum. this allows for it to penetrate freely into the 3-d structure and provide a copayment bond -- covalent bond. there are other smart phones out there today that advertise waterproof protection. what they are doing is using a physical barrier using gaskets and o-rings. a mechanical seal becomes compromise, catastrophic failure. this, water still gets in the device. barrier,ve a physical --

increased reliability for electronic devices is not a fad. the operators really use it. every time a customer comes back with a failed device, they other to riskthey have customer ire or replace the contract. >> there is a big thing that flies, it is in space, it is airbus. >> airbus is all about commercial aviation. profit is up by 21% for the group but i think the top line is this -- they are ramping up the production of single our planes. andalked to a plain expert, they are the ones that ship between europe and can fly domestically to the united states and this is where the big money is made. germany mainly made in

so that will be good for german and french business. >> that was going to be something watch going into the numbers. airbus ceo was saying 2013 charges are still too high for his taste. aviationthinking of an apert in berlin and there are different structuring of numbers. we have 440 million euros for the a350. wasestructuring, because it big restructuring at the end of last year, they are taking a space and defense unit that have merged together and they have cut some 6000 jobs. 292one charge for that is million euros. some big numbers. >> that is something that is happening in the industry as a whole. the marketppointed will be, we'll find out at the open. david miles crossing the bloomberg terminal.

he is a bank of england policymaker. he has spoken to the bbc and interesting comments about what martin weill said last week that we may have a rate cycle fall next year. that nexts saying year might be the right time. no certainty. there is still a bit of slack in the economy. rate may bemal lower than normal. >> at 9:30 we get the number. 0.7% is what is expected by economists. he will keep an eye out for that. " is next.ve they will continue our coverage of airbus. it grew 21%. that will do it for "countdown." we will see you again tomorrow. ♪

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move."ome to "on the momus to go before the start of the trading day. here with me now is caroline hyde. ferro, and hans nichols. john, what is driving the numbers? >> profit is up by 20%. big charges for the a350 and the structuring cost as well.

they're ramping up production and that is encouraging and that is where they see the demand is. that is where the money is. >> we will wait to see how that open spirit of -- open. hans, the story just gets bigger, doesn't it? >> it gets bigger. the details get better. secret meetings in secret elevators. there are some 10,000 clients that have tank, airport stations at the bank, it is a remarkable story. rady dougan is going to be on the hot seat today in washington. there is very little that he can do. he has got to get ahead of his narrative one way or another. >> we will get the full rundown later. she is back. this woman knows no bounds. >> i am moving from barcelona to beer. the biggestnbev, rumor in the world.