>> carnies big test. the bank of england governor faces a grilling from lawmakers. we are live at westminster. >> the bank of japan sticks with its monetary easing plan as the economy braces for an april sales tax rise. >> softbank president tells charlie rose he vows a massive if u.s. regulators allow sprint to purchase t-mobile. -- massive price war if u.s. regulators allow sprint to purchase t-mobile. hello, welcome to "countdown."

>> it has just gone 7:00 here in london. a warm welcome to the program. bloomberg reporters are standing by to deliver the stories. theferro is looking to make -- break the earnings from the .k. manus cranny is in westminster. >> we have been digging into the price war comment from the and ink president, berlin, details on edward .nowden's comments >> audis earnings break later in the programming. surveillance will be talking to the ceo. don't miss that interview. to the formula one race. we will be taking you inside and talking to chairman fernandez. we will see how he says it it's with his other interests.

getting news through foxton. john has been waiting. >> double-digit revenue growth as expected. revenue rises 16% to 139.2 million pounds and a proposed dividend from the company as well. a dividend and some strong revenue growth. we will get the earnings and they come through. >> this is not an enormous business, but it is so much power in the southeast of england landscape. it is interesting to hear what happens. >> it's not an enormous business in terms of all the other companies out there. and are focused on london only in london and areas outside of surrey and the like. a lot of people are talking about this. it's a pure play on the london

property market. >> remind me when i am 80 what will the average price of robert he be? >> it's fairly disputable. they are saying by 2050 the average price in prime london you could have a flat that costs 36 million pounds. people look atd this stock can see it up 60% in september, they say it might look wobbly. this fund is long property. >> maybe they are happy for longs to join in on that property call in anticipation of the price rise. >> i imagine that is the objective. there are people -- there was a debate but a group last week. the ceo says on the prime end of the market, what you saw was domestic home share and a huge transfer of ownership to foreign

buyers. when that happened price continued to go up and leverage continued to fall. the means there is nothing bank of england can do about it. >> the market look so different -- twod to reveal per previous times when houses were on the rise. >> there is an international market, and they are very much international investors. the flow didn't have to go in reverse. you could have a slower amount of money coming down in places like russia and china. if you look at the u in over the last couple weeks, that makes the property more expensive for these guys. >> thank you very much, joining us for the latest on the property market. we hear there is a press conference going on with regards to the plane crash -- the mystery surrounding the flight that took off from kuala lumpur

headed for china. there is a press conference taking place at the moment. pictures coming from malaysia. the authority is continuing to update the international press, the media, the markets on what they are looking for, where they are looking for any wreckage of the plane as of yet. found as ofbeen this press conference. that was the latest. they have been widening the search. >> it is continuing to confound investigators from at least nine countries. they are trying to locate the jet. the search originally focused on the gulf of thailand between malaysia and vietnam, but it has been brought to the west as well as eastward to the south china sea as well. we are into the fourth day, and analysts say nothing has been discovered. it is continuing to baffle broadly.tors >> we will keep on that story.

gave public testimony today. he is seeking to defend the bank of england that has become embroiled in currency manipulation scandal. manus cranny joins us with more. grillingan be a tough for carney. it is a three-part meal. first on guided. second on scottish independence, and what did the rank of england why have they not done more about it. so for the bank of england has suspended one employee with regards to exchange. concerns the fx market was rigged and that the bank had that information eight years ago. they said no collision is evident at a moment. this is a second bond regulated market that has caused a major issue for the bank of england. a were called naïve, and they

of $6andling leiber billion. as we have and saying over the past couple days, this market, 40% of the global exchange market is transact did here in london. you have 20 traders at global banks who have had reprimanded or let go. the head of markets also appearing. whatto put it into this, he has undertaken in turn only. that is critically important. labor be talking to the committee shortly. 21,000 bloomberg and reuters and 30,000 hours of telephone calls. i can tell you, that's pretty painful stuff. issues is looking at

with regard to rigging the market for options. >> inc. you very much. live in west and stir. -- >> theesent --sident is trying to speaking to charlie rose. the fearsng to tackle of regulators in the u.s. >> he is a pretty thorough character. he once threatened to set himself on fire unless they would give him the ability, so he knows how to stir debate. this time he is saying, i promise you a massive price war. those are his exact words if u.s. regulators allow him, soft angst the owner of sprint, -- softbank, the owner of sprint, to purchase t-mobile.

many fear it will be reducing competition if you have four players suddenly becoming three. he says, i will have ale. i will be able to offer far cheaper to consumers. that would help in the long run. there is a question because t-mobile has already been to the u.s.petition market. upgrades, international data, so maybe it's not really needed at the moment. >> a bit of a charm offensive going on. he hopefully won't threaten to set himself alight as well, but he's trying to charm his competitors because they want to tackle the cable market. >> that's why if we don't say, we have already got enough competition in the u.s., we don't want your price were price were coming, he can take another form of attack.

in washington he is talking to market investors, market regulatory. he is saying, if you let me by t-mobile, merge it with sprint, i will be able to take on cable providers, take on internet, i will be able to provide cheaper internet into peoples homes. he is trying to go on the charm and also competition for internet as well. >> let's get more detail on the latest coming out of malaysia on the disappearance of the plane that went flying from kuala lumpur to china over the weekend. [inaudible]of -- he is 19 years old.

and a rainy and. we believe he .s an iranian we have been checking his background. we have also checked him with , and police organizations we believe he is not likely to be a member of any terrorist group. we believe he was trying to migrate to germany. to dip in continue and out of the news conference. we will head back wall of the were as helpful and out to kuala -- we will head back to

kuala lumpur as helpful in the amen has the latest. -- as half linda has the latest.

>> welcome back. you are watching live pictures , a newsrom malaysia ofefing to give more details the stolen passports used by at least two people to board the plane that is now missing. it is now being searched for by

ships and aircraft from various countries. the stolen passports suspects were given social visit visas according to the immigration department official lawyer, who has been speaking to officials in kuala lumpur. suspects with stolen passports were queried on their visit. they identified one suspect of a stolen passport as a rainy and -- as iranian. he said he was 19 years old. he's not believe to be a member of any terror group. he was using an austrian passport. that was the inspector general of the police speaking to reporters most recently. >> we will continue to dip in and out of that news conference. let's come away for a second, because speaking at the south and southwest conference in link fromvideo russia, edward snowden called on big technology companies to take the leading role in protect ng

privacy. -- protecting privacy. here is hans nichols. >> it was a rare appearance, but it was a well-received appearance by edward snowden, remotely. he said what the nsa is doing is setting fire to the internet, so some hot language. he also called on the attendees to be the firefighters. it was really a summons to have a tactical response from tech companies to what the nsa is apparently allegedly doing. he also made it clear that big companies can continue to collect data for their own purposes. nsa is calling on all of the countries, not just the u.s. the people who are in this room now, you guys are all the firefighters. we need you to help us.

a splotchy connection routed from server to server. you see the u.s. constitution behind him. one thing he did mention is he talked about the need for a tech response to be faster than a legislative response. morecompanies are simply nimble. a remarkable moment when he talks about the obligation of tech companies to fix this problem because washington may be too slow to do it. one final point. encryption works. edward snowden said one reason we know and encryption works, the u.s. government doesn't know what edward snowden has transferred to other journalists because, as he said, he used encryption technology. >> live in berlin. >> just ahead we will get more on the news briefing from malaysia on the missing flight. we will take you to kuala lumpur after a short rate. -- break.

>> welcome back to "countdown." >> it is 7:20 here in london. let's get to wallow lump or where malaysia is giving a news briefing as we speak -- to kuala is givingre malaysia a news briefing as we speak. in wallow lump who

are. what is the latest? kuala allow lump or -- lumpur. the latest? >> one has been identified as a 19-year-old. he is the one using the stolen austrian passport. it was said his profile shows he is not likely to be a member of any terrorist groups. instead, an asylum seeker trying an investigation is still being done on the other man with a stolen passport. the suspects we have been told were queried on their visit, and they were given a visa when they came in. what they also did was clear passengers that five may not have boarded the plane after checking in. authorities say all those the checked in boarded the plane and

no baggage was taken out of the indicated towas the press. i want to talk about the surge as well. it has been expanded from the gulf of thailand to the south china sea and has been expanded malaga to the straits of . nothing has been found. it remains a mistry. no clue. we also know from today nine aircraft and 24 vessels have been deployed. nine nations. china may hearing deploy even more hardware. what we have learned from malaysian allies as well is that considerationnto the possible run back to the airport. it's important because this is

not the airport it took off from. near airport 30 minutes from where we are. it was emphasized that no distress call was made. no information was relayed, and the aircraft in particular is system. with a data thisis what we have at point in time. we will bring you the details when they come in. >> we will talk to you later. >> let's move on. the bible describes israel as a land of milk and honey. in that respect, it has been proven at least half right. israel has the most reductive the world.in elliott gotkine explains why. >> meet the super cows.

israeli ones produced more milk. in 2012 israeli cows produced on ,verage 10 and a half tons each almost 50% more than german cows. partly it's because they are treated better. not all dairy cows and joy air conditioning, but largely it's down to technology. >> they would be milked, and they would go on their merry way. is the quantity of the work being measured, but the quality is also being measured and displayed on these computers. >> that's not all. it indicates whether the cows are unwell or feeling a bit frisky. they export this technology to 50 countries. israel he milk yields remain higher because foreign farmers are more traditional.

we don't think of technology in a dairy farm. it is a conservative marketplace. people think it is a chemical thing. you grow cows. you milked them. everybody is happy. however, you discover over the years technology has a significant influence on this business. money the adoption rate goes higher. >> sales of cow monitors have since 2001.d analyzing and acting on this data, says the company keeps them healthy and much more. >> it's a matter of survival. farmers who do not use this technology will disappear. i think we have seen this in and i think terri

is no different. there are manyay things, the feed and the milk and technology is the only thing that can help them in this fight. >> with that in mind, israel's milk tech giants are bullish. this is even used in the arab world for milking camels. >> just ahead, as we look into audihese earnings -- into 's earnings we will look at how it fares in the luxury car market. ♪

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>> i am mark barton. these are the top headlines. marco carney gives testimony today. he was to know what the central-bank at new about possible manipulation and the foreign currency exchange. no bank said they found evidence of collusion. securities exchange commission has started a pro. bank of japan has maintained a record easing. japan is facing a sales tax a bump next month that could trigger the contraction since march 2011 earthquake. today is of the third

anniversary of that disaster. ukraine defense ministry is testing the combat readiness as the crimean region gets closer to a referendum on joining ukraine. they said there are close to 20,000 troops in crimea, those are russian troops. the prime minister meets with president obama in washington tomorrow and the world bank said it is really -- ready to give $3 billion in aid. welcome to "countdown." i am mark barton. >> i am anna edwards. our attention to the crisis in ukraine. russia is planning a outer .roposal to the u.s. solution ryan chilcote will give us more details that could be a diplomatic solution. >> it could be.

that is quite striking. the u.s. and russia have been exchanging ideas about a way out of the crisis which is a starting point. we know president putin invited john kerry to meet with him and that's a starting point. the question is, how serious are these exchanges of ideas? secretary kerry did not go to moscow because of the u.s. did not believe that russia is being serious enough about the far.sals it has made thus the russians will make a counter proposal. the window for negotiations may be not so big. the referendum itself is said to take place on sunday. the united states has been clear if it goes forward, the u.s. does not see much room for horse trading. they have said they would not recognize. >>, to of a threat is it for oil companies operating? >> it would not move their share price right away. we talk about the north sea and

the arctic, the black sea is quite promising as well but unexplored. they have 7000 wells drilled now. wells willk sea, 100 stop exxon and shell are part of thatup of oil companies were prepared to spend $750 million export off the crimean coast in what is ukrainian territory. now, one analyst said it is in legal limbo because it is de facto under control the crimean. these progression forces of their. it is not -- those pro-russians forces there. if they have an interest in a 500 square mile plot just to the east of the crimean coast. this is in the black sea. saying we are hopeful we will talk to the new authorities a little further down the road.

generally speaking, countries uphold agreements reached by their predecessors. >> these oil company's a must have experience when regimes a change. work wherethey only regimes change if you think about it. this could get messy. we are talking about ukraine. they are very adjusted in increasing gas production and oil production to take care of their energy needs. russiancomes a de facto control state, that would not be interested. >> audi reports full-year earnings later this morning. the biggest automaker of europe want to go against rivals like the bmw and mercedes. hans nichols has more. >> if it is all about the race for the top of luxury, we know 2013, itin first at was bmw. what we will look in audi

numbers or if they will announce new models and what our guidance is going forward. how much of growth or do they see in asia versus europe? some of the things we will be looking at. 2013.t who won bmw in first place. then audi and second. and mercedes. mercedes in the first two months of this year in which we have data is making a real push. they have a cheaper cooper. it is around 30,000 u.s. dollars. it is making inroads. what we will look at in the audi numbers is where the revenue is coming from. 20% from germany. the rest of europe is 32%. asia is 31%. is it a growth market going to continue in asia? north america in a 14%. how it compares to volkswagen. their revenue by geography 60%. north america, 18%.

we already have a decent sense of what is going to be in the audi numbers because of volkswagen recorded. this will give us a comprehensive look back at 2013 on what we can expect in the year to come. >> thank you very much. >> 2014 is the most eagerly anticipated formula one year since rules changed. director put it in perspective. >> probably the biggest rule change i can remember in my history. the bigs and 20 years of a bodywork and packaging and almost everything. -- the biggest in 20 years of a bodywork and packaging and almost everything. we are changing to a new recovery system. going from the eight to a

smaller capacity charger. to a smaller-- v8 capacity charger. improve anti-launching. we lose a lot of elements which mean we need and we have got into a stage where we are trying to align ourselves on being more relevant in the racecar economy. we will start the race is with 2/3 of the amount of fuel we had an 2013 but covering the same this is almost as quickly. that is massively efficiency increasing. moreill see unpredictability and unreliability. the racing will be enhanced because of war -- because of more diversity and different

solutions up and down the grid and people converging on what appears to be the solution. >> how exactly will the new rules change formula one racing? we got tony fernandes to weigh in. >> i have been a vocal critic about the cause and it will increase in the cost. -- i am ining it favor to move it toward a car industry. it is more like what the common amar -- man drives every day. in some ways, it is ground zero. for the first six months, we may have a little bit of parity. it will develop quicker and what had more resources. i think, rule changes are

better. beall of this week will taking you inside of the company. es about how it fits with his other interest like air asia. >> you no longer have to balance your drink while riding a bicycle. ♪

>> welcome back to "countdown." it is time for hot shots cost some of the most compelling images of the day. walking with a sixpack of beer in a bag has hazards but you will not have to think about to sensation.s their letter carrier passes to their bike. it gets you from the house to the party with ease. they also make a wine caddy. watch out of barbie. the new average bodied doll is coming. it is based on the average 19-year-old american female. ammily is shorter and wider and

more in proportion. it will be available later this year. continue to spread across china. they're sure to stem the outbreak. the 40's have been -- and the authorities have been treating dead birds. there are many measures taken against the virus. welcome back to "countdown." i am anna edwards. >> i am mark barton. lammilyg to francine, still looks pretty hot to me. of the day. she looks great delight normal people. to the futures. futures are up signaling that the stoxx 600 will stop the declines. we are little bit more optimistic. they are seeing a reversal.

whether little bit of a news coming out of the u.k. that sentiment overall. and a little bit of m&a. >> when in french telecom is going to get underway? >> it is old school. old school takeover. vivendi has asked the company and they are looking for part of it as a want to get their hands on the french company. they are trying to submit final offers by the end of the week. getting a chance to improve with their terms according to people familiar. i spoke exclusively. that is like three days away. we might have a resolution or a better idea of the one with the better bid. >> market growing faces a bit of a grilling. >> he is going in front of three panels. inflation and the big one at 12:30 p.m. talking about fx p robes.

that is what we are interested in. we found out sec is looking into it. this a bloomberg exclusive, the senior currency dealer at before anared details order was put through. he gave the information to traders. trading. there are two sides of the argument. was it illegal and was it wrong? how do you sanction that? and the allegations of bank of england that they knew before it. two different angles. >> thank you, francine. anna, back to you. >> some of the top corporate stories we are following. caroline hyde is here with a look at specifically retailers. >> the british retail consortium put out numbers in february with a real disappointment. sales, dow 1%.

-- down 1%. one area is online. it doing great outside of the rain. year on year, 14% growth. it was totally miserable weather in february. people pressing the click of button. fall.r's is likely to also very exposed to food sales. at seems to be a weak point. we may get a bit of a boost. purely an online player. provision sone because see a bit of a separation. those exploded to food sales. really interesting numbers. hot on the heels of strong consumer confidence numbers are from u.k. for stop

strong numbers and we'll see if we get reaction run the retailer stocks. thank you very much. topon is here with the macro themes. >> german trade data was better than expected. .mports up a much better than expected for german trade data. coming off a week month in january. the bank of japan stays on hold for the big one. april, sales tax hike. what will it do for the coming and will they have to step in with more stimulus? that is the question being asked every since they started the whole process of five months ago. a lot of pressure. in mark carney testifying westminster today on three fronts. >> it is easy to forget why he was scheduled to be there in the first place. inflation report.

not all about of the program. a lot can happen. what does he think about sterling and rate policy 12 months out? the you are front of treasury select committee, you will be pushed hard on the bank of england. >> quarterly inflation report said when he and his cohorts developed and took forward guidance to the next phase. quickly dropped forward and called it a guidance for it is very important. these are good things happening while he has been there. and the others while he has not been. others saying he has been having the luck of the irish. >> he will be questioned about the foreign exchange markets and ongoing probe until who knew what about foreign it exchange of markets. as the other topic is the union. topical and the u.k.

>> as we count down to the european market opening precisely in 11 minutes. the top three stock picks from our next guest. ♪

>> welcome back to "countdown." i am mark barton. >> i am anna edwards. minutes away from the start of european equity trading this morning. let's talk stocks.

we have a senior analyst and joins us now from london. thank you for joining us. numbers are out that did not look so great. is an interesting level. they have a trading statement next week i had of the preliminaries. it has been in the news. that he wasunce going to step down in july. since then, the share price has underperformed. down 8% or so. weighed on theve stock. they have this thorn in their side which is the discounters which has been taking market share. ury has come off a

bit. you're not seen a forward guidance. these levels are where it could be interesting. i like that it has a good online offering and food offering. there are many aspects about the stock it makes such a weakness, onto my radar. it makes it interesting. looking forward to next week's trading statement and that will give us an idea of what to expect in the preliminaries. and certainly of interest to me. angus, what about the ftse 100 it self. it has been a unable to break through the all-time highs at 1990's, december 30 was his recent high system that point. 6.930 is the closing high. what about 41 points shy of that. why has it been unable to push through that level? >> a number of reasons why.

a very good run so far. levels where we had a bull market for five years now. 2009, course since march that is sort of the anniversary. it makes people think. how are the equities slightly undervalued at these levels? will see the ftse with three attempts to try and break to has done highs and he so unsuccessfully. you have to factor in other things for investors to consider which are the s&p his store his storet is not -- clean if it does not close positively it'll be a negative if it doestorically not close positively it'll be a negative year. we are geopolitical issues. there are earnings that are quite low.

stocks outntracting there and we should continue to see equities push higher. particularly in the ftse. would you compare to the u.s. indices and some other european indices that have made the record highs, the ftse lags and that maybe the warning signs for other investors. has the market gone a little too far? and how can i see a push to the record high? we have sort of staggered in it that the yukon is u.k. economy is looking brighter and rosier than expected. will it continue to run afford? can we push to a new high? it is natural that people become apprehensive and may be a bit too much optimism out there. i think that level will stay a bit of a hurdle for the ftse. >> angus, thank you so much of the angus campbell. his thoughts on the market of a

whole. carney'sto mark testimony. >> and that will do it for "countdown," will see you tomorrow. goodbye. ♪

>> welcome to on the move. european bloomberg's headquarters. our markets team has everything covered. here with me is jonathan ferro and manus cranny. david inglis is standing by. pointing towards a higher start. >> in a less couple of minutes , we have a bit of rebound after week chinese

data. in a are sizable moves last couple of days and a rebounding copper today. >> watch for copper and commodity producers. we will get them up for you when they open. let's go to westminster. are indeed outside of the houses of parliament with mark carney and the head of markets. when didyou know and your institution know what? another unregulated exchange. mark carney has explaining to do and what did the oversight people now at the bank of england. ?hy was it not escalated back to you. kongt's go to hong