banks putting up interest rates? tol a slowdown put pressure put rates on hold for longer? more disappointing data. german exports flawed. there are record lows across the eurozone. look at the futures and the numbers. of.have the futures i read a beautiful piece of copy. momentum when it came to trajectory. frightens. are they frightened of their own shadow? are they frightened of what bonds could do to interest rates. that may hit the united states of america and that is the biggest threat of all. bond yields.

there you are. we have the bond yields declining. low rates. come and securities the fed is concerned about a misinterpretation. the unemployment rate. and european equities were coming off of a low. london is up and we are coming off of the lows. the dax is lower. the opening. no changes expected there. again, the overall context of what is happening. the g-20 begins and exports fall. that is another facet.

you see the manufacturing drop and a conversation this morning says to stop getting so upset about the slowdown in germany. and it will pass, turning to some trajectory of normal. you had the s&p 500 down. that did not work on my futures board. up by 1.5% yesterday. the market is bipolar. i know one or two people like that. can the roses stay sweet? keep anme rose a aunt eye on that. now, they are flying in tandem with that announcement. the reason i put this up here is

because they said foreign exchange is going to hit the terms oft 1%-2%, in third-quarter results. thank you fever is the next big issue -- dengue fever is the next big issue. 50% of the workers could be exposed to dengue favor. they are the closest with the vaccine on that one. we have time for currently. 8512. we are coming off of a high. this prevarication of the checkedreserve, i got and people are worried that alan greenspan was in charge of the federal reserve and had the same problems as janet yellen.

word,t to get rid of the considerable. patients was a virtue. the distance in time between patients being introduced and traders are doing that. that is the return on the dollar. >> patient. i'm sure you are. >> that is the equity market. the ftse 100 is 0.8%. now with some insight the investment management. thank you for joining us. dovish with a d. bad news is good news again. up from what we are observing.

and that was very bullish. off,on as liquidity is markets face a day of reckoning. >> here is the question. a u.s. recession before a recovery to bring up rates? >> what we are observing days improvement in real growth and reductions in inflation. growth trends remain flat and that is the story in euro-land. the inflation numbers are being shaved away. what reallys and companies andline i think there are companies out there who will demonstrate the shareholdersward

-- three wards shareholders and -- reward shareholders. >> what do you like right now? i see fantastic companies and by .ue is well-placed i think sap is fantastic. i see good opportunities, in terms of people doing things. markets -- microsoft, i think blackest stone -- blackstone is delivering. bifurcation between the good and not so good. >> i talk about the static in the s&p 500 company that spends on dividends and buybacks. that is ridiculous. how long can i go on? >> it is bad. they run into trouble.

the problem is a huge chunk of that being on reported earnings. if we do not get investment, company capacity will be reduced. >> that's i you engineer a bull market. the bond yield is opening a higher. it is down 5% and heading towards 2%. we start the year in spain at 4% and it is a drop of 200 basis points. there is so much to talk about. it is decision day. we will debate the strength of the u.k. economy. they deliver the numbers and the stock is higher. we are back into. plenty to discuss.

>> welcome back. this isathan ferro and on the move. phone,ng online, on your

and on amazon. we cover the market reaction to the minutes and i want to read this to you. some interesting that expressed concern in the area. it could lead to a further depreciation of the dollar and have adverse effects for the u.s.. the central bank is talking. why is that quote in the minutes. >> i worry that the structural andlems remain unresolved you say to me, hang on. if you tease apart what is happening, we have is dirty from the government and we have no growth. we have reasonable consumer spending. where does it come from? protectionnt compensation.

i think we will see a marked down and it is difficult in the u.k. perspective. we are not managing to achieve real traction. >> what does it mean if they don't just fall back into recession? >> not good news. they are the largest and most important trading partner. this is a critical issue. it means that the bank of ratesd will be raising longer than expected. i think the issue is what is happening to wage inflation. i see no sign. >> people sitting at home looking at business loans and worry about rates going up. you paint a gloomy picture right now. just why is it up to the bank of england and put a rates.

but it is not a press button lights time. decisions and it filters through the economy. that is the typical lag between monetary decisions and the real impacts. ahead, we see where it will take us. it says there is uncertainty. i think two things are important. rates and issue is the idea they will go back has not washed in the context of outlooks. not to go back to his story ties. highs -- hise storage -- historical highs.

>> what happens when they go to early? , that has not met much. what is the patient's databases hike mean? -- what does the basis hike mean . >> the banks are richer than they have ever been. by deliberate action, we know that they look the other way and allow the destiny to remain elevated. that ise case that coming down. it is still alive. hike in a rate of a money rates and a repricing of asset prices when everyone feels miserable. that is the risk. >> you are not miserable. we are talking currency. be currency war could brewing.

when it getse gathered. i remember you are at the meeting last year and the war talks. corona. shinzo abe and >> it is interesting because you are right. going into the meeting of february -- in february, that was the topic. the leaders got together and there was not of a lot of criticism. look at the pledge that was made and they gave japan a free pass. they say countries should not engage in competitive devaluation and they said it was ok to support it. is mario the bad guy and will he be vilified? we know from the minutes

yesterday and the meeting that took place. there were a couple of participants who were worried and about what that would mean for inflation. jack has been clear that he is not concerned about depreciation of the euro and said that he pledge support for him pledge that was made. you look at the manufacturers andwere there last year hitting u.s. carmakers. and said the interview they are concerned about the strong dollar. they are concerned about the anemic growth in asia and europe. toy need the export market boost exports and they are

concerned about the strength of the dollar and about week growth. >> the chairman has been talking. give me a sense of what he has to say about the issue. depreciates it will and is down over the last six months. they have a target and he reiterated that as the forecast. he did say that he did not think the trend would continue and had a warning for germany saying german thought the on reformor taking german manufacturers do the

same. a mixture of a warning. the currency will continue to depreciate and germany will get attacked. >> we are going to continue. the g-20 meets. they put out a statement and say they do not target the exchange rates. >> they did not have a lot of opportunity to control the exchange and the markets are liquid at the hands of real participants and economies. the capacity to say this is what we want and to get it. do that isest way to to push down currency. want to doy really is push down the currency and gain export strength. we have seen that that is what is happening in japan. there is weaker yen.

the challenge in the global context is exporting deflation and prices go down. the economies have to deal with upaper exports and we end with a deflationary spiral. helping.now, it is not not a good sign. >> the japanese economy is in trouble and we see the ache of japan having an open-ended commitment to a bond market and accepting that yields a wrong and they are guaranteeing rates. they will not lose real money. however, it means that there will be an exodus into the the market. the economic support. have a stronger ride. the want to finish on

dollar. many of us the it was a weaker euro. were you surprised on the dollar side of things that federal reserve officials were complaining about it already? >> i am not surprised. growth is a commodity and everybody wants to. in europe, we should be looking i companies like the ones they are price for bad news and there is of size -- upside potential. we should be looking at companies that are making high returns on equity because they are well run. a word, what is more poor and united states economy for smart the week dollar or a strong euro zone? >> the strong euro zone. >> the questions.

the rally continues. looking moves. the dax is of by 100 points and a move higher. based on his on the move. one of the big gainers. we will speak to their finance chief waiter this hour. the stock is up solid numbers. what is the outlook? in two.about everything

>> welcome back shares of the electric car company are of this year. look at the gain. you asked the question. weis because of the triptych from the ceo. he said it is about time to unveil something else. there is serious speculation that there is a new model. sam has the story. >> if i am right and i think i will be an upgrade of the existing model with two motors and one drives the rear and one drives the front. it will be faster, more

powerful, more efficient, and continue the effort to bring electric vehicles to the masses. as far as the masses are concerned, there is a way to go. it cost $80,000, more than twice the amount people spend and adding an additional motor will not make it less expensive. ish of the development happening in cars priced for the country club set. mercedes-benz started selling their electric drive and it looks like a toyota matrix, setting you back more than $50,000. bmw has the electric hatchback and it is big. a fully loaded model could get you close to $60,000. it is a little bit like

reaganomics. think of a technological advance and it likely started on an expensive model. fuel injection. another mercedes. the brakes. pioneer a going to new and expensive technology, it helps to pass the costs on to people. the costs will reduce and you can apply it to cars of all prices. that is the plan. the company releases the crossover and is expected to have a smaller sedan that costs half the price. that will be the real breakthrough. >> that is a company we have been watching. one we have been watching in the grew and shares are higher. they said they made a good start to the new financial year and up

next, we will have a look at the labor market with the finance to rector. that is an exclusive interview. we are back in two.

>> welcome back. 30 minutes into your trading day . things are pointing higher. here are the markets. the dax. look at that. over 100 points. 4%. compare the growth at the federal reserve. bad news meets good news. lower rates. the markets seem to like it. stocks are on the move. >> gold seems to like it.

gold is the key performer. higher is a couple of notes out. the overweight stock and it is up 6%. and wes a top performer get numbers for the fiscal first quarter. of 4%. startay it is a cracking to the presidential year. it.s focus on it is down 4%. it is an insurer and it has been on the blogs for more than a year. it seems that a potential fire has fallen away. there is a way of distributing

pension and it is not profitable. disheartened by the news this morning. >> thank you very much. here are the top headlines. the dollar is close to a low. the u.s. central bank maintained a pledge to keep interest rates low and officials expressed concern about slowing global growth and the strength of the dollar. good news for equity markets. a proposed overhaul of the labor laws. a controversial law sets guidelines about the market. cgil has called for a demonstration. .ondon record growth is over according to a chart of surveyors.

they say that the house prices fell for the first time in four years and most expect property market growth to lack for the country for the rest of the year. what does everybody talk about now? keep it in the u.k.. is the u.k. ready for a rate hike? paul joins us now and is the finance director at the recruiting giant. great to have you this morning. numbers this morning. positive growth for the largest regions grew simultaneously. what are you doing that is working so well? >> we have dominant positions in a number of markets and we are number one in the u.k. and australia. better and we have

seen more uniform growth. paid an ugly picture of europe. weakness was that and the.k. is mature is int play in germany i.t. and engineering. not immune to the market. we have lower economic growth in germany and europe. france is at 7%. france is up. there has been a week economic backdrop for two or three years now. people are saying they know the economy is weak and they have to get on with their life. they look from one company to another.

it permanente workforce is temporary. they make a substantial part of the business. and growth isdly on the permanent side of the business. talk about what it means for the economy and hayes. >> why is it important? it is all about temp. growth,nt they change it accelerates. across all is 20% the regions and further away from london, the stronger the growth. middle and it the was 23%. and we areconfident starting to see wage increases. you lose people and make offers to make them stay. we only have white collar

recruitments and we are seeing wages rise. we have strong uniform growth across all parts of the u.k. and that is different from where we were. >> the economist would tell me there is no growth. why are the numbers released from u.k. statistics telling me there is no growth. >> there is a difference between blue-collar and white-collar. in the engineering space, there is a shortage in almost every country. look at construction and there's hardly anybody traded best trained. rise 5%-10%. wages we are seeking professional classes. seeing decent wage growth and the question is, will echo

into the broader economy? i think it will. the minute they focus on growth, they want to keep good employees and they know they have to keep wage rises. >> lots of companies forecast profits. what are the targets this year? >> they have no forward revenue and we can say that they have delivered in the market. and therea good start is no reason why they can't have that or growth than last year. >> do you expect to be beating consistent consensus estimate question mark >> i have no idea. >> are you on course? once we are on course or slightly ahead. -- it will be in

the one 60's. that is where the consensuses. we are one year into a five-year plan to double up profitability. to 250 is to get million. >> i need your help. been thefive years has era of the finance director of the chief financial officer and we could be moving into a higher interest rate environment. how do you navigate that? >> we have limited. they change companies to hire people. if the increases are gradual, that is fine. there is a base rate in the you say -- the u.k.. we expect that. it would clearly have a problem. i think that, as long as it is gradual, it will into new to

improve and that is good. the question is what will happen in europe. it has gotten worse and we see that. talking about interest-rate increases 43-5 years. as long as the u.k. in the u.s. is gradual, it is exciting. there is strong growth in asia and australia. the third-largest business and profit generator. that is going to accelerate and is important. >> we have had the pain. we made the profitability in has good and the rest opportunities for growth. it is exciting for us and it started in construction property. quantitiesng more and hiring. bellwether and they

want to hire more finance people. in australia, it is going to improve. i think we will have a good recovery there. >> the last question is less. thes compelling that companies are spending earnings on buybacks and dividends. look at the credit market and is it attractive to raise money? >> no. from recruitment standpoint, you want little or no debt. you are not trying to take a financial risk with your balance sheet. we have no need to have that. andgrowth has been organic we would use more debt. we are focusing on dividend

increases. it is a combination of increase in dividends and it means that existing shareholders are rewarded. it is hard to prove that they have benefited at all. >> with a benefit from more? >> only strategic stop i have done one. so, at some point, we may do something in this market. it is not the driver of our business. organic growth is. we generate and the profit comes in cash. it will be good. we expect the specials. >> could we get something soon? >> we want to be able to buffer. i like a conservative balance moving.d we are we expect to be doing specials and that shareholder got the

cash. you can point to it and they don't know what they got. >> fantastic inside. we will have to get you back. i am sure you are happy. up next is on the move and mark zuckerberg looks to make new friends. a lot of potential. we talk about how the looks to break into the market after the break. you have been looking at the equities. we will talk about it. on the move is that in two.

>> welcome back. is on the move full is time to talk about they spoke. the ceo begins his trip to india. he wants to speak about boosting is a bigaccess and it opportunity. we have caroline hyde stop this is about growth? >> is about growth for facebook. he got the initiative with ericsson and samsung to extol the virtues of getting the next 4.4 billion people online. that is the initiative. and they put out

this report. contributed incredible stats. india has the biggest population. are online. the reason is because india is illiterate. how do you make the most of the internet and computers. a lot of people who are not using it are female. you have an uptick in people getting online and there is a clear desire to start using it stop because of the amount of people, it is the third biggest user in the entire world and still an opportunity to drive growth. we are seeing infrastructure being improved in a key area. they are testing out handsets

and it can be overcome. there talking about how to make contact more local and specific. it will incentivize people to get online. but everyone wants a slice of the market. will they get the growth? that is the question. you can talk about the numbers. when will they come online. >> what is fascinating is who has been out to india. they have a nice stream. -- is become the minister and is the first to drive forward media. he loves it. jeff says he wants to drive commerce. interesting, not fully-lead. microsoftpay cash and

has been out there. a google executive has been out. they may be launching a new messaging have and it could launch. not the first. >> talk about the potential for growth again. how many users are in facebook right now -- on facebook right now. >> this is where the cynicism get sprinkled in. we will hear from mark zuckerberg about how he wants to donate. they have 100 million users. india is the second biggest market outside the u.s.. factorlarly when you what is up. it is the biggest market. 65 million users. and, is why that is so popular. they do not want to pay for data and have to pay or sms.

you can freely message and arranged to meet up. see how this keeps on going. this is about getting the system to grow. >> thank you very much. up.pulse is coming guy johnson joins us from a newsroom. you have a lot to look at. one thing we were looking at was on yields. but look at it. endbubble down to the front , it keeps he can flat -- getting flat. i really interesting mix in this . does that mean that merkel is helping european partners? you can join the dots. the market is down in the

european bond occurs. you have what is happening in the states. europeans have a free lunch here. that is another to think about. we have the bank of england, as well. we are going to be joined by a range of guests this morning to talk about what happens and how it fits. coming up, the former founding member. we will talk a little later. get al go to india and take from a partner and one of the biggest tech firms out there. he is talking about costs coming down and making a massive difference. price and people to come online. people come online.

does not seem like much. >> thank you. looking forward to the show. we have numbers this morning. look at the equity markets. the federal reserve's have dovish minutes. 127 points. the moves are higher. up zero point 8%. thing i want to look at is bond yields. look at the move this morning. the spanish yields and the yield on the 10 year. we started the year at around 4%. it is not just number on the screens. the tenure drops to 1%. it is so much to talk about. and loww growth inflation with a pessimistic outlook. plenty more to talk about. on move will be back in two.

>> welcome back. we are going to wrap up the markets. i join us as. what do you have? >> the bank of england is not getting any major change. i was looking at the market and die was chatting with the yield curve flatten her. look at the yield on government bonds in the u.k. at the 10 year and we are back at the levels we have not seen since 2013.

andave the federal reserve ethically will go through a time whenselling the agenda of the hikes come. one, haveaders, been a point -- right to talk about this. they presumed the u.k. would move a little it further next year. the federal reserve is concerned and the language communication could spark another ben bernanke moment or a taper tantrum. >> should the bank of england be really concerned? ? so. once you have seen the fed minutes and the dollar take a little with. you have not seen the russians do the same thing. >> is strengthening and clawing back. intervention the

of the central bank. the markets think they spent between 1-2,000,000. 1,000,000,000-2,000,000,000. the bigger concerns are debt repayment. dollars still getting between oil and gas and are not getting it because of the denial of access to u.s. and capital markets. dollars are going into the country through finance roots and there will be people continuing to see -- oil prices. >> plummeting. the last rowack to currency crisis unlike thursday and oil went way down.

obviously, that would be a issue. >> we have to leave it. that is it. the pulse is next. follow me at twitter. stay with us.

>> caution. european stocks rebound. bond yields drop. borrowing costs will stay near zero for a considerable time. ebola escalates. u.s. air force steps up security. bringing one billion people online. facebook's mark zuckerberg is in india. he is set to speak shortly.