this news that apple could be moving into the auto space along with google? these are some big tech players aiming to shake up the auto industry. and they have big piles of cash. on those two fronts, the tech companies are in a good position. where they're going to their parts from, what kind of engines they were built? he said that they can learn a lot because the cars themselves are starting to become more technology focused. they all have wi-fi and have an integrated driving experience. but the key depends on how many engines the tech companies intend to produce.

if they just go with electric, they could get there a lot faster. if they try to compete with combustion engines, it will be a harder road to travel. that the soft -- the passat won the car of the year. manus: disclaimer, i don't drive a car. mark: we will be back there in a couple of minutes. he is bmw's sales chief ian robertson. manus: mark zuckerberg stole the show at the world's largest mobile conference last night. he took to the stage to talk about facebook's global initiative to talk about

internet connectivity worldwide. caroline hyde is there. i am hearing a variety of reports of people saying that it wasn't as inspiring as some had thought. what was your take? caroline: i think, what was fascinating was his overall confidence being exuded yesterday. he is willing to work with some of his key competitors to fulfill his goal of the internet for all to the two thirds of the world that aren't on the internet so far. they aren't in and access area -- aren't in an accessible area. what many got excited about was the fact that he is willing to really push forward with google. have a listen.

zuckerberg: one of the apps that we lost with was google search -- we launched with was google search, because it is an important piece of functionality that people want across the world. caroline: many people see this as a desire to do good. for people to be informed in latin america. google, wikipedia, some other key competitors in the internet space are useful. but that seemed to be one thing that was really focused on. also focused on was the tension on the stage with the awkward relationship facebook has with telecom operators.

telecom operators find facebook as frustrating because they provide access to messaging and maybe even phone calls. the operators now can't get as much revenue in because facebook and whatsapp provide them for free over the internet. this is why he is really trying to focus on what the operators are doing. what is important are the cables that are being put in the ground by these operators he is working with. manus: he encouraged all the mobile operators to join him in bringing the internet to the world. a lot didn't join up and felt threatened. what are executives telling you on the ground? caroline: we were just speaking

with a key telecom chief executive yesterday and he was focusing on the fact that he is angry and passionate, he wants facebook and google. he wants them to be regulated as telecom providers are. he was not saying that they have to have more regulation, but perhaps the telecom providers should have less regulation in europe. he was saying, give us a level playing field. manus: thanks, caroline. anna: we will be taking to twitter on everything that comes out. follow us there. @markbartontv @annaedwardsnews and @manuscranny.

mark: up next, we will bring you more from the geneva auto show including an interview with bmw's head of sales.

anna: 12 minutes past 6 a.m. here in london. let's get back to the geneva motor show where hans nichols is joined by the bmw chief of

sales. hans: i am joined by ian robertson. i want to ask you right away about that minivan behind us. canning be at -- can't a bmw be a minivan. robertson: it is a very and we -- is a very space friendly vehicle. for the first time in this segment you will be able to get four-wheel-drive. hans: you aren't concerned that you will lose your ultimate driving machine by selling a minivan? robertson: we are looking to bring new people into the brand. we launched the smaller version of this vehicle and about 75 to 80% of the people who bought it have never bought a bmw. ultimately, those people will

probably progress into other uw's in the family. -- other bmws in the family. hans: do you need to find new customers? robertson: we were comfortably number one last year. we expect to grow our sales this year. the brand is a very broad spectrum now. from the one hand, you have broad-spectrum vehicles and then you have each vehicles -- you have niche vehicles. this car incorporates a new technology of water injection into the engine. i think our appeal is there and we will confidently move forward. hans: are you going to come in first in 2015? robertson: we intend to maintain our position as the leading provider of quality automobiles.

hans: talk to me about russia. do you see a turning around -- do you see it's turning around? robertson: i think the politicians have to answer that question. we did see a drop in the fourth quarter of last year. for the moment the price hasn't dropped but maybe that is because the pricing hasn't moved as fast as the ruble has dropped. i hope there is a political solution and i think the market can turn relatively quickly. it is a very large market on the worldwide position and very close to europe. hans: elsewhere in the states you are going to have some competition very soon, apple and google. competition in munich? robertson: we never underestimate any new

competition, whether traditional players or new players. but from our position, we like to develop our own technology and our own niches that shape the future as to where the automobile industry is going. to put that in a nutshell, i tend to look where we are going. more competition keeps this industry healthy. hans: how long will it take them, give me a prediction? robertson: the entry barriers that may have been more substantial in the past are now slightly lower. but the complexity of the car industry is still there. new competition doesn't particularly bother us. in some ways it is an advantage. hans: tell me about the m135. robertson: it has a new engine

lineup. if you look at the new m1356 vehicles on the market, great success. the coupe version regularly receives five stars in its performance. it is a car that we brought into the market some 10 years ago and we have sold over 2 million of them in that. one that brings new customers into the brand and is very much a stepping stone into the bmw family. hans: you produce many -- you produce mini and rolls-royce in the u.k. what happens if they leave the eu. robertson: we hope they stay within the european union. we think it is it -- it is an advantage for the u.k. and for europe.

hans: one final question on the minivan. what is the customer saying? are there any drawbacks? robertson: it is front architecture, very space friendly, and you can get seven seats. you have three children, maybe you have some scope for extras. hans: then i can stop calling it a minivan. all day i heard a little bit of concern about russia and a little bit of optimism that voters in the u.k. will make the right choice. with that anna, i will send that back to you. anna: thank you very much hands -- thank you very much hans. bmw making it very clear that they want the u.k. to stay in europe.

mark: breaking news from hans nichols, he does have the capacity to have two more children in an automobile cents. the reserve bank of australia has held its overnight cash rates at 2.25%. the banks governor glenn stevens is concerned that a low rate may fuel a rampant real estate market in sydney. the nasdaq has closed at the highest mark in 15 years. it is within 1% of its all-time high. it was helped by fast profit growth by apple and intel. there is concern that greece may need a third bailout within months. markets may not be prepared to lend to athens when the current

program comes to an end all stop the government -- comes to an end. the government would have to meet the current guidelines. from sydney, when we return. manus: we're going to go to break. he is hot for cars -- he is hungry for cars.

anna: welcome back to countdown. the reserve bank of australia unexpectedly kept its interest rate unchanged today. >> it was unclear whether they would cut or not, but in the end, they decided to stay put at this record low at 2.25%. the dollar spiked by about 1% which is pretty much exactly the opposite of what the rba will be trying to achieve here. in the end, they decided that they would wait and see what the impact of the february cut was. they are trying to get the

economy back growing and to try and put a lid on unemployment which has been creeping up and sits around 6.4%. the decision to stay put also avoids throwing gasoline on the already red-hot australian property market, particularly in sydney and melbourne. it also avoids knocking confidence. had they cut again, it would have sent a pretty dire warning about the state of the australian economy. it shows that they are reasonably happy about the way things are at the moment. they said it was decision that further easing may be appropriate. many of the economists surveyed by bloomberg said they agree. most think we will get another cut by may and one thought we would get down to 1.5% by the third quarter.

paul allen, bloomberg in sydney. mark: join the conversation on twitter. it should be trending. the nasdaq crossing 5000 for the first time in 15 years. where were you in march, 2000? anna: i must have been having a good time because i can't remember. i have been reading an interesting story on quantitative easing. this week, we are looking ahead to what the ecb will say or not say about qe. we had a great story on bloomberg this morning about how long qe will last. manus: i think that is something that hasn't really -- anna: putting down there estimates on the inflation side

because of oil prices. we could see some of those cpi forecasts being brought down. manus: portuguese government bond yields down for 14 consecutive days. again, all of the periphery is really charging on. mark: what is incredible is that portugal is more creditworthy than the united states if you look at the bond markets. bill gross, from janus, says essentially that the fed needs to raise interest rates because the low bond yields are pushing investors into riskier assets. manus: it is all about whether

it is creating bubbles. coming up, heading back to geneva. we will be talking to opel's chief executive. ♪

manus: you are watching countdown. time to check in on the foreign exchange markets. again, we have jpmorgan saying that rates will rise in june. this morning, goldman sachs and morgan stanley said they are more likely to hold off. the chief economist at glusken said that the fed will remain

patient and wait until next year. the dollar is down by an eighth. but this is one of the biggest one-day gains for the australian dollar. the central bank left rates unchanged. what you have here is again the rba jawboning but having no impact. we need a lower dollar. the most accurate forecasters said that the rba will get to 1.5% by the third quarter. inflation will remain subdued. there is a real debate about whether you get to 1.5% or 1.75%. i want to bring you dollar-yuan.

the one -- the yeauan is add two-year highs. right now it is on the cusp of 2%. the view from the market is that there is a reserve requirement cut coming and the central bank could allow the bandwidth and tolerance of the yuan to move up to 3%. anna: thanks, manus. the funeral for russian opposition politician boris caps off -- boris nemtsov will be held today. thousands of people rallied on sunday at a march in his memory. the israeli prime minister

benjamin netanyahu is expected to speak over concerns about iran's nuclear program in front of the united states congress today. he was invited by congress without receiving president barack obama's notice. the office -- ubs plans to close its moscow office. they say it is based on a plan to streamline. mark: let's get back to hans nichols with the ceo of opel. hans: i am joined by karl-thomas neumann the ceo of opel. we are going to unveil a car. you have the honors.

this is the world premiere. neumann: this is our new entry. it is the smallest, entry model of opel. it is very important for us because it extends our portfolio to a low-cost entry. in germany, it will be 9500 euros. it has a new engine, 7500 horsepower and a three cylinder engine which is very efficient. a true opel. hans: give me your honest opinion on the color. neumann: our designers think it is a fancy colored that we have in other colors to if you don't like it. we have a black one over there which i like very much and a beautiful blue.

hans: these are crucial for a strategy to become number two in the market, how is that coming? neumann: we have a car now that is an entry-level. and we have lifestyle add-ins. we have the youngest and freshest cars in the industry. hans: and yet, how are you doing on market share? you didn't have a great year last year. neumann: the european market grew only 1.7% last year, but opel group three to 4%. it is the second year in a row that we have market share, so i think opel is starting off well. hans: when do you plan to return to profitability? neumann: we plan to return to profitability in 2016 and then grow from there.

in 2022, we plan to make a profit of 5%. hans: central to that strategy is a vibrant market in russia. at what point you cut your ties? neumann: one issue in russia is the ruble situation. it is hard to make money in russia. we have a new management in russia. we went from three shifts in our factory in st. petersburg to one shift. we could contain our losses in russia, but it is not the growth market perspective anymore. hans: do have to recalibrate any goals or timelines because of russia? neumann: no we are not giving up any goals. we are more successful in other markets so we are fighting to break even in 2016. hans: k tell us about any other

new ones -- can you tell us about any other new ones? neumann: that is important for the brand to show that we are leaders. another thing that is important is on star. it is a technology that we are introducing which is a conductivity technology. it has a concierge service, emergency call, a wi-fi hotspot in the car. and it connects the car to the internet. for the first time, we will offer this not just for luxury cars, but for every car. hans: that brings you my next question about apple and google may be entering the market. what do you think about that? neumann: i can't talk for them but it exposes how much the auto industry is in a change. that is why we're introducing on start.

you need to be in the lead. it was really time to bring this to europe and that is what we are doing here today. hans: how long will it take apple and google to come up with a car? neumann: it is difficult and you need scale, that is the key thing. i am watching it. i am not afraid about it because i think we have great cars and great conductivity technology which we are rolling out. hans: watching but not afraid we thank you for the interview. manus, i found your car and your color. with that, i will send it back to london. manus: great interview it is always interesting to see what technology is going to happen even in a small car. me and lime green?

not really. anna: all the colors are available, though. manus: what color would you pick? mark: blue. anna: we will be back there throughout the morning with rolls-royce ceo and jim farley the head of ford in europe. manus: join us on twitter, we are all there. we have just been tweeting up -- tweeting out what hans was talking about. we are @markbartontv @annaedwardsnews and @manuscranny. anna: vw said basically good luck with the physics.

♪

manus: google says it plans to offer wireless phone services on a small scale in the u.s.. the fed could raise rates in

june, according to janus capital. >> what has been promoted has the potential for bubbles in the stock and bond markets. i think the fed is willing to it knowledge that by raising interest rates at least 25 basis point in june. manus: and saturday night live is heading east. the u.s. comedy show is starting a chinese version. they will have comedians from across china performing sketches and live music. everyone has cracked a screen at one point or another. a japanese company is bringing the latest ultra rugged

smartphones to europe. >> nearly everyone has a smart phone these days, and everyone has probably broken their screen at one point. but that is where this phone comes in. i have made langston -- i am nate langston. this japanese company has produced a phone they describe as rugged. it is fairly standard of a device like this. the company also says the phone can withstand being underwater. ♪

ok, well that did more damage to our equipment that our equipment into the phone. there is one test left. ♪ good god. that is amazing. could be that the battery has been displaced. it is not working. the screen survived but the phone appears to have died a bitter death. oh well, the end.

mark: let's get back out to the geneva motor show. joining us right now is the jaguar chief executive. >> good morning. mark: the big news that you announced yesterday is that you are planning to sell a convertible version of your range rover evoke. it is not a massive market, why are you dipping your toes in? >> in geneva, we had a lot of innovation and one of these very innovative concepts is this convertible that will be on sale next year. this vehicle will set a new trend. mark: can you give us an idea of its cost? for whether it will be a fabric roof or a folding hardtop?

i don't want to talk at this very moment about the car because we will see it next year. i am more interested in talking about the current vehicles. we are here with a firework of products and innovation. mark: you are showing off the recent xz, which is the most configurable car in jaguar history. are you confident that it will compete with entry-level luxury buyers? speth: i am absolutely convinced that it will make a very successful car. it is a commendation of british design and very creative

engineering with the latest technology. the latest conductivity. -- contact --connectivity. mark: you are hoping that the new jaguar will set the pace in 2015. what sort of buyer are you targeting for the first jaguar suv and what kind of price range? speth: in the jaguar line, we will not have an suv. we will produce only all the capability of suv on the land rover side. with jaguar, we are willing to go to a more sporty car which will attract more sporty customers. mark: you say a crossover, some

might say an suv. but whatever you say, they are all going to star in the next bond film "spectre." how big of a deal isn't that your cars -- of a deal is it that your cars are featured in these bond films? speth: i guess overall, these kind of very special british designs with the combination of connectivity and engineering it connects very well to bond. mark: we must talk about apple because it is making big news.

it is reportedly working on plans to launch its own car. what does this along with the likes of tesla and google tell us about how the industry is changing and what people want with cars in the future? speth: overall, we welcome the introduction of more electronic features as well as different concepts. it will make the automotive industry overall richer. nevertheless, the conventional car manufacturer will have the increase in electronics, but the drivability will improve in its own way. mark: we have had one guest on today talking about scale

another talking about physics. what are the hurdles for the likes of apple to compete with jaguar-land rover. speth: at the end of the day, we have to decide in the premium car business, how much transparency you want to have. we want to offer the best electronic features and the value will go up 20-40% in the car. but at the end of the day, we have to give our customers privacy and a premium experience with our cars. from my point of view, that means not total transparency. mark: very quickly, you know there is a u.k. election coming up on may 7. following that, there could be a referendum coming up about a u.k. exit from the eu. what would that mean for jaguar-

land rover? you produce cars in the ua -- in the u.k., but many of your key markets are in the european union. what does that mean for a company like land rover? speth: jaguar-land rover exports about 80% of its production and about 20% to europe. overall, it is a very important market for us. we don't know what the future regulations will look like. so it is not up to me to speculate what will happen after the election. mark: good luck to you and good luck to the launch of the rr evoke. and of course, many new models.

anna: just a reminder that we will be speaking to another chief executive. the barclays chief executive anthony jenkins is coming up in the next hour of countdown. stay with us for that interview. manus: coming up, we will be looking at our favorite stories across the digital platform on bloomberg including how the dating app tinder charges people over 30 488 -- for a date.

manus: time for our digital pix -- digital picks. tinder is a dating app. if you want a premium service where you can't see -- where people can't see if you are tracking their profile. if you're under 30, is $9.99 but if you are over 30, they will charge you $19.99. mark: the 15 most miserable economy in 2015. it is made of the misery index, which has to do with unemployment rate.

ukraine and greece top the list. anna: you don't have to go far down to find spain. next we interview and a jenkins.

>> motor show kicks off. we speak to autochiefs including the rolls-royce chief executive in a couple of minutes. >> what mark zuckerberg's headline appearance tells us about the u.s. and europe. >> barclays c.e.o. anthony jenkins tries to revise its worst performing unit. the investment bank. >> standing firm leaving the benchmark rate unchanged. we'll bring you the latest from sydney.

hello. welcome to "countdown." i'm mark barton. >> i'm anna edwards. coming up, russians bury the slain opposition leader. he was killed just before he was set to lead a protest against president vladimir putin. >> we're waiting for the numbers from barclays. the bank led by anthony jenkins. the focus is going to be on what the vem bank is doing. here we go. the dividend is 3.5. the goal that jenkins set for himself last year was a return on equity around 13%. 3.5 pence. full-year net operating income

comes in at 23.6 billion pounds. the number for the adjusted pretax adjusted profit increased 12%. this looks like an initial headline beat for barclays. 4 the market estimate out there was for 5.2 billion pounds. full year net attributable loss comes in at 174 million pounds. pretax adjustment a 5.5 billion pounds for the year. he has cut expenses and has done so by 9% to 18.1 billion pounds. additional provisions, this is something which the market had -- i had read pieces that they could take up to a billion pounds -- but the fourth quarter, additional f.x. positioning comes in at 750 million pounds. that is lightly ahead of the

overall estimate i had. provisions are up. many said they wanted a one stop global shop in terms of all regulators all at once on foreign exchange. they are taking an additional provision. 750 million pounds. p.p.i., payment protection insurance, we saw this last week. additional 200 million pounds for p. pimbings. fx 750 million pounds. p.p.i. 200 million pounds. that is a total of 900 million pounds. the pretax adjusted profit rises to 5%. we'll speak to jenkins a little bit later on. that is the c.e.o. in his first interview of the day with us here on bloomberg. >> one of the key takeaways from zuckerberg's speech last night.

caroline hyde was there. she joins us with more. some of the speech made for fairly uncomfortable listening, didn't it? >> it did, mark. it is a very awkward relationship. facebook has eaten into telecom operators revenues by offering it over the internet. he is asking them to help provide internet for free in countries like latin america, africa. and the reason he is trying to woo them to do it and get internet for the rest of the world and eventually you will drive up your data. telecom operators are desperate for the likes of over the top providers to be regulated in the same paye way they are. they are communications companies providing messaging

services. the chief executive of deutsche telekom is very passionate about the fact that they need a level playing field. have a listen. >> in the u.s. there is no regulation at all. in europe there is a lot of regulation. come to middle ground rather than be extreme. >> that was him pointing out at the moment the united states is actually far more freer with regulation. europe and the u.s. perhaps being driven apart at the moment. we're seeing an awful lot of regulation hit to europe 3678 some stifling, some innovation, some growth. whereas the united states has less regulation. let's inside out why tim is so frustrated at the lack of a level playing field. he said bring on competition. >> i'm a big fan of facebook and

google. these are great companies. they create a big service for consumers. i have a problem. if sher subsidizing the communication services to get data from the consumers, while we at the same time, we are -- communication service. the second thing is if these guys are earning money with their data, why can't we? why is our -- i'm not asking for more regulation for these guys, i'm asking for a level playingfield that we are operating the same business. this is what we're fighting for. this is competition. i love competition. >> mark zuckerberg really didn't want to be drawn into this debate. he dodged the question. he said i'm not a regulator. he does not want to try give his view. he is trying to cozy up to the telecom operators and tried to say look they are the guys

laying the cables and plowing money into an investment into providing internet access to the rest of the continents of the world, to the other 2/3 of people who don't yet have access to the internet. sure, we can talk about the satellites and the blimps and planes that google is developing. he is really trying to win hearts and minds now, mark. >> one of the highlights no doubt will be the keynote from the chairman of the u.s. regulator. the f.c.c. tom wheeler of course is his name. regulation is clearly a massive theme there, isn't it? >> it really is. from every angle i'm hearing it. of course tom wheeler interestingly another key u.s. player tying the stage. twrr europeans moppings all of this? clearly the u.s. players are overall taking the limelight. f.c.c. is going to be outlining

the net neutrally rule. the fact that they want free easy access and gnu no difference in speeds in internet access. remember we have the u.s. looking at net neutrality, looking at the fact that netflix and others in terms of speed of internet access but in europe it is a focus of regulation in terms of making innovation the heart. two u.s. players are dominating the keynotes at a european function shows perhaps we have lost our way in terms of leading the charge when it comes to innovation. we have to get it back. easing regulation is a way to do it in europe. back to you. >> more from her later. more barclays? >> one of the biggest focuses was on foreign exchanges.

the debate was barclays decided not to settle with the other institutions. they decided to hold back. there are still ongoing investigations. when it comes tost to provisions, there has been a great deal of debates. that takes the second half, the over all second half provision up to 1.25 billion pounds. one of the questions obviously we'll get this opportunity to speak to anthony jenkins shortly. did you -- was this a misstep? did you misjudge? should you gone with the others? you get what is called a discount. you get a 30% -- from settling early with the regulate no, sir the first instance. let's talk about the investment bank as well. that is important. down 24%. >> that man is 2 1/2 years into his tenure.

comes from a retailback ground. his focus was to downsize the investment banking arm that had been so built up under bob diamond. >> absolutely. it is return on equity. it went from producing 50% of its profitability under diamond and has been scaled back. >> he said in a statement we remain focused on addressing these issues including those related to foreign exchange trading. the behavior major is incompatible with our values. the result of these issues will be part of our plan next year. he is addressing that. >> absolutely. more from anthony jenkins later on the program. back to the geneva motor show. hans nichols is standing by with the c.e.o. of rolls-royce motor

cars. are you there? can you hear us? do you have another car to unveil as he did in the last hour? >> i can't hear the anchors. >> it seems like hans cannot hear us. which is a shame. we were hoping he was going to talk with one of the managers at rolls-royce. >> we'll go back there in a second. >> just want to bring you a couple of other lines from the barclays story. the c.e.o. jenkins, he will take a 1.1 million pound bonus and his total comp for 2014 comes in at 5.5 million pounds. >> some took bonuses. some in europe didn't. >> goldman's was -- i'm not going to try to guess what they are. but they were multimillion. >> not everyone took their bonus did they?

>> let's bring you our top stories on bloomberg this hour. no change in australia's key benchmark rate. the held their rate. the bank's governor is concerned that lower rates might fuel a rampant real estate market in sydney. the nasdaq closed above 5,000 for first time in 15 years. the strength of apple stock and nine straight quarters of gains are brought it within 1% of its all time high we saw back in 2000. and there is a warning that greece might need a third bailout within months. the president said markets might not be prepared to throped the government when its current program comes to an end in june. the greek government will have to meet the requirements of its current program.

then see what market conditions dictate. >> let's get back to the geneva motor show. hans nichols is standing by. i gather he can hear us this time. he is with the chief executive of rolls-royce motor cars. hans, over to you. >> good morning. i'm joined by the c.e.o. of rolls-royce. we have a special car coming up here. the certainty. -- serenity. >> we're going -- now this is a bespoke vehicle. >> this is a car for a customer who really challenged us to go an extra mile. this is for the first time that we brought fabric back into a car. silk inside. let me open the car for you. >> can i come in? >> no. >> are you afraid i'm going to -- >> the customer asked me really that we are not touching or

entering it for very good reason. it is so delicate. >> this is silk? >> it is completely delicate. hand wovene and painted on top of that. it took us nearly a year to build this extraordinary car here. >> nearly a year what was the price tag on it? >> substantial. >> we're going that take that as higher than 2 million yures euros? tell us about the bespoke market? >> it is very important for us. you want to specify that car to your own imagination and that is why we have installed the bespoke program, highly successful. 90% of all of our cars are bespoke. this car is for us also. was a new challenge. particularly when you look on the headline of this car. you see that everything is completely involved into the

headlines and that's something we haven't done before. >> i could make joke about people who see the ceilings of cars. won't talk about that. you had a great year. five years of growth. tell us what you're expecting in 2015? >> i'm quietly confident that we should see again another good year for rolls-royce in 2015. we had five years consecutive growth in a row which is a fantastic story. i'm confident we should sell at least one car more this year. >> talk to me about russia. you saw people parking their money in rolls-royce. is that trend going to continue? >> it is hard to predict. it is affecting the mood of the population.

for that reason i'm not sure if we see russia again being such a strong market as it has been last year. for that -- but on the other side, the united states is an excellent market for us. middle east is a n good shape. that mcoss back to my old saying. you should never put all of your eggs in one basket. >> when you look at the middle east you're not being affected by the price of oil. >> it is stabilizing anyhow. it is not only about oil in that area. it is about the stock market. it is stabilizing now. for that reason, i'm not too much worried about the middle east and also what we have seen here in the middle of the year, it is ok. it really develops nicely. we had a record year last year in the middle east. the middle east se in the meantime our second biggest market after the united states. >> china, has there been a slowdown because of the anti- corruption campaign? >> yes, we saw that. we sold substantially lest cars

than 2013. due to the anti- corruption campaign by the government. we are not immune against any governmental actions. i think we're going to see the same happening this year. it will take some time. >> you unveiled this car for us here. unveil your plans for an s.u.v. for us. >> we confirmed it as you know two weeks ago. and we are very much looking forward to that car. we take our time to really develop it properly and to make sure it is a proper rolls-royce by tend of the day. we are realizing now the design phase of the car and start all a the engineering. it takes a couple of years before the car cops into the market. >> you heard from customers that there is demand for it? >> when we announced it immediately i got a couple of orders in from customers all over the world and of course also many commerce asked us to

enter into that segment for good reason. >> not only a salesman but a salesman as well. -- a c.e.o. but a salesman. >> of course. if you work for a pristine brand, rolls-royce for that reason being close with commerce. listening to commerce. i would say we are probably one of the most customer driven automotive brands in the world having an exclusive family of customers. >> which is odd because few of your customers drive their cars. they have someone driving them for them. >> no, that is not right. >> what is the percentage? >> 100% of all of our customers drive the car themselves. 50% self-drivers. 50% chauffeurs. >> are there silk seats in the

front as well? >> no, only in the back. in the past fabrics, silk let's err was meant for the sofere. >> what are some of the more interesting bespoke we quests you have? what happens if i'm a larger gentleman? >> you can have that or even if you are a smaller guy. anything is possible. >> with that configuration, you and i can talk prices online. i know won't give me a number but i'm going to say north of 2 million euros. your final chance to object. >> a substantial amount of money. >> thank you very much. with that, none of us can ain order car but we can all dream. i think there is some aspirational envy. >> hans, it is not true that most of rolls-royces buyers don't drive their cars.

he backed it up with his stats. the rolls-royce c.e.o. >> thanks. you can join us on the conversation on twitter. what do you think to have car? tell us what you make of the thrax at mark barton tv anna edwards and manus cranny. >> up next more from the mobile conference. ♪

>> cutting through the hype of the tech industry could be a challenge. bloomberg caught one a top tech investor to ask what is hot and what is not at the mobile world congress 2015. >> where is bruce? is bruce around? ok. hey, bruce. how are you doing? great to see you. >> great to see you. >> i brought some friends by. my name is john malloy. i'm a founder and partner of a firm called blue run ventures. when i look at hardware as an investors i want to see great hardware that is coming out. i don't want to invest in it. i want to invest in the services

that sit on top of it. i get excited when i see the competitive wheel that is the mobile industry that is driving our devices to be thinner, lighter, when people talk about the light bulb they probably were not sure whether that was a good idea. they had a gamble. that's where i look at the internet. we're missing the light bulb and the application. the connectivity is coming. i'm excited about health care. all the change s that arehappening. whether you dieted how much you exercise, all of those things can be learned. what i'm most excited about are applications that leverage the fact that you're always connected and we're collecting

information about regular people. i think your shirt, a t-shirt, you wear a t-shirt, i think it is much more logical. you don't have to think about it. i think the talk of the day for mobile of congress 2015 is really the watch. people are excited about that factor. the industry needs something beyond a smart phone. in terms of the one peevers hardware it is probably the watch. >> just real estate mind r, stay tuned for the latter part of program. we're going to be speaking with anthony jenkins in his first interview of the day on bloomberg. 7:45. don't miss that. overall profits are up. the investment bank. this is where a lot of the focus from the marketplace will be because we're now getting a break dounch what is going on in the investment bank. markets income fell 10% to just

over a billion pounds. they had lowest market share amongst any of their market peers in the third quarter. a billion pounds in earnings for markets down 10%. the rest of the institutions saw their fixed income come out of the currency business. it is a turnaround story there and it is down overall at the bank and the investment bank as well. >> the best u.k. performing stock, barclays, lloyds up 5.5. standards, 1.7. barclays, stop of the -- this year. will it be after today? >> you can join in the conversation on twitter. let us know what you think to have stories we're covering. 2 1/2 years into his tenure as c.e.o. at barclays. what do you make of anthony jenkins so far? >> ok. coming up, a new focus from ford

it is a car maker pushes for profit nblet europe. we'll be live and back at the geneva motor show. stay tuned. ♪

>> you're watching "countdown" 7:30 in london. check on the dollar, a little bit lower at the moment. jpmorgan said it will be june. goldman sachs, morgan stanley saying the fed will hold off. one says the fed will go in june trying to avoid these asset bubbles. another says the fed will be patient and wait until inflation hits 2%.

the dollar is down coming off 10-year highs on the dollar trade. when it comes to a little bit of a surprise and i think it is fire say that the reserve bank of australia hit us with a surprise. 60% possibility they will cut rates. that's what the market was pricing in yesterday. they held off. they left rates unchanged. the currency rallied almost 1% at its peak. house prices are up 14% in the month of february year-on-year. they may need to lower rates later to get the currency lower to help economic growth. they say get ready for 1.5% on reserve bank of australia rates. unemployment will remain at a 12.5%-year high. it is whether they goat 1.75 or 2%. let's talk about the country that buys the stuff these guys

mine. it is the chinese. have a look at the yuan. it is lower. they allowed it to trade 2% up and 2% down. it is a lot of band wit. -- band width. the yuan is weakening. dollar is getting stronger. we're seeing credit suisse say get ready for the central bank in china to widen the band width for the currency to trade up to 3% plus or minus the rate they set. >> the top stories of bloomberg this hour. the funeral for the russian opposition politician will be held today. he was shot dead in moscow on friday. his body will lie in state for mourners to pay tribute before his buried at a cemetery in southwest moscow. israeli prime minister benjamin netanyahu scheduled to speak

about iran's nuclear program before the u.s. congress today. he was invited by republicans without giving president obama advance notice. he is expected to explain why he is trying block a deal to iran. u.b.s. plans to scale back its wealth management activities in moscow. they serve clirnte who is deposit their funds offshear. it is part of an effort to streamline operations in emerging markets. >> let's go to hans nichols live at the geneva motor show wreaking havoc among senior european car executives and he has another one in his clutches. hans, over to you. >> i have a new arrival here. he is jim farley. we have been at rolls-royce. now we're more at my speed.

we have the ford focus here. tell me what differentiates it. >> this is the r.s. it is really different. all wheel drive. can control the torque of each wheel in the middle of the corner. it also has drift mode. you can hit the button it is all good. >> you're getting into the sports segment. we have a pretty fancy car coming up. tell us about the g.t. >> it is our pinnacle performance. we have our s.t. lineup, our r.s. we have 12 new global performance models coming out of ford. we have a whole portfolio of these performance vehicles and the g.t.s. is the top of the heap. 600 horsepower or more. it is really a race car for the streets. >> i'm thinking about buying a

g.t. and also thinking about another car. what is the main competitor? >> price wise, the lamborghini. >> for some people. >> for most average commerce, but it is a really special statement about ford technology. we're a brand model t deck accuratized democratized. >> you introduced the mustang here. what is that like? >> the mustang is incredible. in one month, talk about 50 years of pept-up demand. we had 500,000 people in europe configure in price a mustang. >> how many of them bought it? >> we haven't taken orders yet. we go on sale this summer. i'm hoping a large percentage of. that any sign that russia is

going to turn around? do you cut your losses? >> russia is important long-term for us. we see them as being potentially the largest market in europe. in the meantime, a lot of volatility. we have to make adjustments. >> combrour still selling there. >> absolutely. we have invested and we have our freshest lineup anywhere in the world is in russia. all new lineup of cars and s.u.v.'s. it is a very important market for ford. we just finished all of our investments. in the short-term, a lot of price adjustments because of inflation. a lot of adjustments to production. adjusting our costs with our partner serls. long-term, it is an important market for us. >> when we look at some of the other long-term trends out there, a lot of talk about google and apple getting into the car business. do you welcome them? >> this is fantastic. innovation. that is what ford is all about. democratizing that for millions.

having more people offer mobility solutions and software that excites people. that is great for our company and our industry. it is one of the key oin vacations starting for us. we have 25 mobility experiments that we're running around the world. we're learning a lot about this new software reality. those kind s of companies are going to make it more interesting. >> how long is it going to take them to roll inning something off the lot? >> you to ask them. we really see the mobile economy as an opportunity for the car industry. it is no longer just a car. the car is part of the internet of things now. that connected car is a key opportunity for all of us. >> congratulations on the focus here. when do you expect to turn a profit in europe? >> well that is obviously a key part of my role here. the team is focused on returning

to profitability. obviously some headwinds. our pension costs are lower than anticipated. that is a bit of a headwind. we made a lot of progress. $400 million closing the gap to profitability last year. we expect to continue that progress in the near term. we haven't given any guidance as to when we will get back to profitability. we're very focused on returning the enterprise not only to profitability but we want to make this a vibrant business for ford. >> a focused c.e.o. and car with that we send it back to london. we'll continue to harass coast all across the auto industry press them on their car and see if we can get you a discount at the lot. >> a focused senior executive. very focused on returning to profit in europe. that was jim farley. hans nichols talking to him in geneva. >> they have been blazing,

hopefully a few questions for himself. >> ready to retweet all of my tweets because i forgot to put a dot. just to remind manus, we'll be speaking to mr. jenkins. that is coming up on "countdown." dop not miss it. coming up, i can retweet those tweets. what is next after the nasdaq hits 5,000? stay with us. ♪

>> time for today's bart chart. what is next after the nasdaq hits 5,000? it was 15 years in the making. the index timely closed above 5,000 surpassing a level it succeeded only on seven other days, back in march 2000. this is the nasdaq going back all the way to early 2000. the record was reached on march 10, 2000. two bull markets and more than 4,500 days later 450 48.62 was

the number set back then. the index is 40 point or less than 1% from that high after closing on monday. further gains are forecast according to analysts' price targets compiled by bloomberg. it will be 5,433. are there similarities between now and the dot.com era? after the nasdaq peaked in march 2000 it embarked on a 2 1/2-year 78% decline. as you can see that red line there on the left hand corner which ended october 9, 2000. on evaluation basis, versus a multiple of 175 in march 2000. over the two years leading up to the 2000 peak it surged 189%.

nearly 50 stocks soared at least 10-fold since the start of 2013. the index has risen 66%. no stock is up more than 10 -- the big difference between now and 2000. more profit than profit. -- promise than profit. earnings driven by demand for things like apple, companies like apple and intel are spending more money than anybody else to buy back shares. what's next after nasdaq hits 5,000? >> the top stories on bloomberg. google announced plans to launch solar powered planes in the coming months to bring wireless web access to unconnected areas elsewhere in the world.

the fed could raise rates in june according to the former pimco c.e.o. bill gross. he made his prediction in an interview with bloomberg. >> what has been promoted has been potential bubbles and n the stock markets and in bond markets and i think the fed is willing at this point to at least acknowledge that buy raising interest rates 25 basis points in june. >> and you're looking at live pictures of russians preparing to bury the murdered opposition leader in a funeral service. he was killed just before he was set to lead a protest against president vladimir pute. he happened to lead that protest over the weekend in the event that turned into a march. 50,000 people marched in his memory on sunday. 7:45 here in london. >> barclays just reported fourth quarter 2014 results.

joining me now is the c.e.o. anthony jenkins. first interview of the morning. welcome to bloomberg. thank you for giving us the time. looking at the numbers, good news. 5.5 billion pounds. profits up. barclay card. variable compensation is down. let's goat the provisions. 750 million pounds extra for foreign exchange probes. did you misjudge? should you have gone earlier with the rest of the banks and gone first and gotten your discounts for f.x.? >> good morning. let me say i am pleased with the results we have announced today. they have revealed that the bank is in a stronger position than at any time since the financial crisis. as said at the time, we are in discussion with multiple regulators and we believe it is best to conclude a settlement

with as many as possible at once and that's what we're working on doing. we have made some progress as the provision reflects and i'm cautiously optimistic that we should be able to resolve this matter within the coming months. will this be the top of the provisions, mr. jenkins? a total of 1.25 billion in the fourth quarter. is this the top over the foreign exchange estimate? >> we're required to provide for what we can reasonably estimate at this time. i can't say that will be the end of the foreign exchange version because the discussions are still ongoing with a number of the authorities. >> investment bank, let's turn to the top line here. it is perform well in the first quarter. you turned a profit in the fourth quarter. what exactly is performing well in the investment bank in the first quarter? compensation is down. costs are down.

i've got those top line. everybody is read those. which part of that i.p. is beginning to be ahead in q 1? >> actually one of the things i feel very good about at barclays is the strength of our four core businesses. they all turned in good performances in 2014, but specifically on the investment bank. if you look at our position for example in thee logic tables where we advanced in europe and maintained opposition in the u.s., if you look at our progress in the equities business we have done well. we have performed well in mark rows -- macros. we made a strategic shift to focus on client origination as we call it. that is working for us. and i expect that we will continue to deliver and improve performance of the investment bank as costs further step down and as we continue to optimize

the capital base of the business. >> let's cut to this. how do you get a business that is delivering 5% returns on equity? that is so below even your own target, sir. do you need to do a u.b.s.? do you need to revamp that business? is that what needs happen? how can you get from 5%, anthony up to 11%, 12% without something radical? >> let me be absolutely clear. every business within barclays has to deliver the return on equity that we seek. it could be the card banking in africa and the vement bank. the investment bank in particular we are focused on driving up revenues and driving costs down and optimizes allocation of capital cls the ingredients of the return on equity that you referred to. i just want to point out that there is a number of costs going through the p.n.l. in 2014 which

will gradually reduce over time. for example, as we pay out the third comp compensation, as we slim down the middle and back offices, all of these things will continue to space down and improve the return. but i am absolutely clear that we will do what is necessary to get that return into our medium term target range, which is 12% through the psych. >> before we move on -- through the cycle. >> would you be prepared to close down certain businesses within the i.b. and what looked like the weakest flinks the -- links in the i.b. now? >> what we announced in may last year, we took risk weighted assets out and focused on declines of origination business. that business is going well for us. we're making good progress. i expect the costs to continue

to decline. we'll continue to look at the line s of businesses and the capital we allocate to them. i would expect that to be an optimizeation over time of the whole business model. we're confident that we will deliver the commitment bhead for the core of barclays, which is a return greater than 12% in 2016. you'll note our return for the core was shy of 11% in 2014. we're well on the path to deliver that overall return for the core and we're well on track to improve returns within the investment bank. >> you have said in press that the universal banking model, the day of it -- what does that really mean? which parts do you want to be excellent at? if we have this conversation in a year's time and i say to you, you're going to get a gold star for three parts of the bank that are best in class, what are

they? what parts do you want to be best at? >> the strategies that a lot of banks pursued in the decades pre the crisis of 2008. that strategy was really about trying to do everything for everybody every with are. we have a strategy at barclays which we call t 5. we want to be a top five bank in the world. that is a logical strategy in a world where capital requirements were low and you were able to leverage the balance sheet. but in the new world which is really important is to be able to focus on businesses where you got scale, competitive advantage and you can deliver returns that shareholders seek. that's where i feel very good about barclays. if i look at the corporate bank here in the u.k. -- >> can i just ask you, mr. jenkins and if -- fixed income commodities and currencies you have dropped out of the rankings and lost all market share,

you're at the bottom, does that put ficc at risk? >> my reference to t-5 talks about what barclays pursued in the last decade. the strategy is really at focus. africa cards and payments. these are all business where is we have markets-leading positions and investment bank wrg -- banking where we focus the bank on macro areas. you asked a question about the contrast between universal and focus banking. focus is where you have scale capability capped deliver returns thants what we have in the four core business s of barclays. >> let's talk about the big political question. we're asking all of the c.e.o.s to join us. u.k. leaving the e.u. how -- would that be a disaster for your business?

how much of a risk to barclays business might that be? >> well, first let me say that it is a political matter. that is a matter for the government and the british people. from our point of view, obviously we have to contemplate every possible scenario. there is no doubt that were it to be considered it would cause some disruption to financial markets but we believe we would be able to manage our business through a scenario like that. >> just want to reflect back to yesterday's press. danny alexander of the liberal democrats calling for an additional 1 billion pounds bank levy. i suppose the question that comes to mind, is that reasonable politics or is it time, mr. jenkins for the city to send a message stop whipping us. we're not here every time you want to cash a chip? >> that is a political policy

question. as i said a moment ago, it is really a matter for the british people. my job is to run barclays under any scenario and make sure we deliver for or stake holders. the barclays we have built in the last 2 1/2 years has the tiblingt do that. >> before -- the ability to do that. >> six month s of decline. i'm worried myself. i don't know about everybody else. buyers are at a 30-year low. are you relieved to see that kind of bubble mentality? very briefly. >> yeah. i think obviously bubbles in markets are not good things. i think the authorities in particular, the bank of england and the p.r.a. acted propetly a couple of years back to address that. i think the housing markets though in the u.k. will gradually trend up as has been the trend in the past. >> mr. anthony jenkins, c.e.o. of barclays. great to have you with us this morning.

mr. jenkins, c.e.o. of barclays. "on the move" is up next with jon ferro. >> that will do it for "countdown." we'll see you tomorrow. ♪ .

>> a good morning and welcome to "on the move.” i am jonathan ferro. minutes away from the start of european trading and let's get straight to your morning a brief. anthony jenkins takes his first bonus as ceo. annexed or 750 million pounds for the settlement of the global probe into manipulation of fx markets. the australian center break does nothing. -- central bank does nothing. they keep rates on hold. and of course, record high. the s&p 500 and dow jones closed

at all time highs. it took 16 years for the nasdaq to close above 5000 points and 1% of a record-breaking level. the things to talk about later but now, the future markets a little higher in london. the taxes up about 17 points. lets get women who always covers the opening for us, manus cranny. >> a government bonds rising this morning. collapse in portugal they hit record lows around the periphery of europe. this morning a 10 year government bond in a germany goes negative. mark carney and friends of treasury select committee in spain talking about greece needing a bailout and the ecb will they reinstate liqu