meeting in brussels. running out ofy money and greece has to pay about $840 million to the imf. matterolombian finance -- minister is protecting inflation and his country will slow to within its target range this year. we will ask him how lower oil prices have hurt the colombian economy and why the central bank is cut its gdp forecast twice this year. betty: laguardia airport is set to be in such bad shape that vice president joe biden compared it to a third world country. one official has a solution -- shut it down. we will debate whether to close one of the countries most crowded airports. ♪

pimm: good afternoon. betty: let's begin with a look at the markets. oil is moving. the stock markets are moving, they are fluctuating now. you can see that the dow is off by about 27 points. the nasdaq is higher by 2/10 of 1%. pimm: let's take a look at the oil markets as well. brent crude is down about $.83. nymex crude is falling. let's take a look at treasuries. the big selloff in the treasury market, take a look at the yield on the 30 year, almost 3%. 2.250 year is almost percent which is a big selloff in u.s. treasuries today. let's take a look at the currency market. is $1.11.-euro

mover is the pound sterling versus the dollar. i think it is high for the year of 2015, $1.55. it's getting a bump after the election in great britain. betty: let's get right to the top story of this hour. the first time since the start of the ukraine conflict, john kerry will meet with vladimir putin in russia. they will meet tomorrow in sochi , the black sea resort that was the site of last year's winter olympics. talks will focus on the ukraine, iran, and syria. ties between russia and the west of been damaged i the fighting in ukraine and the west has imposed economic sanctions on russia and accused vladimir putin of sub brought that supplying pro-russian separatists with weapons and troops. the european finance ministers are downplaying expectations about their meeting on greece today. they are in brussels and awaiting a final proposal from greece on economic reforms.

the finance ministers have said they will not release any more bailout money until they are satisfied with the greek plan. sothere is no final outcome there is no results on the table today takeis so we can just stock of what progress has been made and hopefully, that is positive but we will hear from the institutions first. betty: greece faces another hurdle tomorrow by paying $840 million to the imf. in the united kingdom, prime and david cameron begin's his second term facing a big issue -- great britain's future in the rest of europe. the subject of europe will be a big one for the business community. weekend, we heard the confederation of british industry has been arguing that the u.k. business committee wants the u.k. to stay within the eu because of the single market benefits.

but they want to see the relationship between the u.k. and the eu renegotiated. you can expect that to be one of the big themes in the early part of this parliament. citigroup says the u.s. justice department has declined to prosecute the bank following an investigation into alleged rigging of the libor industry. citibank says it's in talks with prosecutors about another probe but this one focuses on rigging foreign currency markets and could imply -- could involve a guilty play. there is a takeover the shale oil business. noble energy is acquiring rosetta resources. the price tag is $2.1 billion in stock and noble will also assume 1.8 ilion dollars in debt. the deal gives noble a position in two of the largest areas of show production in texas. dzokhar tsarniev could

learn his feet the -- his fate this week. they will decide if he's jailed for life or will be executed. the jury will get the case after rebuttals in closing arguments. hasy aide to bernie madoff died after helping the government prosecute those involved in the historic ponzi scheme. lung cancer at the age of 58. he was the government's star witness and the madoff case and was just about to await his sentencing for his role in that ponzi scheme. this is bizarre -- itself in aninds unfamiliar place inside a shopping mall. it fell through the roof of a clothing store. it knocked over manikins. common in the hong kong countryside but i don't think in a shopping mall. the 55 pound animal was tranquilized and taken away.

twitter andine instagram all going a buzz? pimm: he does not look to phase. in the next half-hour, betty: we will talk with the colombian finance minister about his nation's economy and how it has been coping with falling energy prices. they rely a lot on oil. pimm: some people have said la guardia airport has some money problems it needs to be shut down. but not everyone agrees pretty we will talk with a private equity investor who says he knows how to save laguardia. betty: he says we needed. we will have the results of a new hampshireasks democrats for their opinion of hillary clinton. you will lease apprised what they say. we have much more on "bloomberg market a." ♪

pimm: welcome back. betty: let's get straight to a check on how the markets are trading. julie hyman as much more starting with monster. julie: the overall markets are not moving much. monster beverage was down about 10% friday after it reported earnings that missed analyst estimates. citigroup came out today and said you should buy the stock, upgrading it to a buy from a neutral. the 10% pullback provides a buying opportunity and current visibility is low but the company has room for expansion.

the shares recouped 6% of the losses today. watching the drugmaker activi s. it bought allergan and laster's biggest drug industry deal. the company reported sales were up 59%. that beat analyst estimates earnings doing well. checking on a recent ipo is essie which went public a few weeks ago. it doubled in the first day of trading but it's down almost 9.5%. the shares were downgraded to an underperform. they cited questionable seller practices saying as many as 2 million items on the site are have-- are counterfeit or copyright infringement. betty: thank you. look at some

of the stories making headlines. the rich are getting richer in china in terms of putting the money anywhere that they can. even super yacht makers like perretti in italy are majority owned by chinese companies. we want to find out what else will be sold in china. we know this is a big trend, the idea of being you find out what the chinese want and you sell it to them. betty: that's right, how can the chinese have so much money? why do the chinese? take a look at the stock market. pimm: we saw the interest rate cut today and chinese stocks went higher. betty: they flew. chart on how the shanghai composite index has done? we don't however, you can imagine it's gone up.

pimm: there it is. betty: look at the very and. it is falling off a little bit of a cliff and people are wondering whether this is the top. pimm: mark mobius has been talking about this very thing, about the potential decline and the chinese shares because there has been a big shift. you could only previously purchase shares of chinese companies as a non-chinese company of they were based on the hong kong market. now you can buy them in shanghai and that is caused an explosion of interest. that is certainly something all the luxury makers are looking for. betty: they are and who knew this hong kong connect would encourage more chinese to buy in china. ? there is a dangerous hour. about theomberg story most dangerous hour in the chinese stock market. and 2:20een 1:20 p.m.

p.m. where apparently on several days, 19 of the 30 sessions, the stock market has dropped 300-500 points. why is that? people may go out to lunch, i don't know. pimm: lack of liquidity and volume. maybe they don't get the bid and that meansin so there may not be in a people on the bid. some of the institutions use that opportunity to close their books. i'm not sure why they would at lunch hour. perhaps that's what happens in the chinese stock market. pimm: we had the interview with he wasulson earlier and talking about big reforms the need to happen in the chinese market for things like taxation that would have to move from a gross receipts tax to a consumption tax and also a

change in which municipal finances will have to be reformed. there are a lot of debts outstanding that will not get paid back. many chinese companies are majority owned by entities like the chinese government and the people's army. betty: that's right. they letof them will default? we will have much more straight ahead right here on lumber market day." ♪

betty: this is "the bloomberg market day." friday's job report was a relief. we saw the stock market rallied pimm: 5.4 unemployment rate. betty: we are heading multiyear

lows on the jobless rate that critics say the u.s. might be getting in its own way. of further growth. companies are taking less risk and they are starting fewer businesses even in silicon valley which i thought was surprising. this chart says companies that are younger than i've years old which is the orange line on top are usually the primary source of jobs in the u.s. economy. that happens closing with older companies which is the blue line.0 that means they are not hiring as much as they were before. why is that? pimm: what can you do to actually restore this balance? betty: exactly. the bloomberg review editors came up with four ways to encourage growth. stop local governments from regulating too much. 600 pluscounted like licenses in new york city are issued for manicurist. s.

it's about the paperwork. about having local businesses stop competing with each other for business. betty: allow crowdfunding for businesses up to $1 million. it makes sense. issue more leases for skilled immigrant labor -- bingo. visas -- youre the educate people to do well and they go back home. they start businesses there instead of here's. betty: earth to congress -- get moving. the fourth one is to stop the buyback addiction. pimm: repurchasing shares in order to reduce the share count which meets your earning the same amount of money and the share count reduction makes it look like you are making money and the stock goes up betty:. where is the hiring? companies have spent more than 900 early and dollars repurchasing shares. it's great for investors and the

stock market but not so great for the economy. pimm: let's take it check on oil markets. brent crude is down for a third day in a row. it's matching the volatility we have seen all year. nowhere is oil having a bigger effect than in this country, columbia. crude oil accounts for half of colombian exports in the country is now forecasting the slowest pace of growth since 2009. betty: with us this morning to a discuss their economy is the colombian finance minister mauricio cardenas. thank you for joining us. oil prices are volatile yet again. what is your for cast on where you think oil is going to be for the rest of this year? this affects your economy tremendously. cardenas: we are working under no illusions that oil prices will go back to 70 or above 70 on brent crude.

we are basing our own projections for the balance of on brent at $60 on average for this year. the price should stabilize at $65 for the rest of the year. that is basically what we are using for our own predictions. betty: where does that come from and how is a calculated? account: we take into the futures markets and projections from the experts. we also feel we have to be conservative. we have to make sure if we get news, we hope it's positive news. for annot planning increase in oil prices that will bring us back above $70. i think we have to be prudent and conservative and that's the essence of good planning at least when you're a finance minister. pimm: maybe you can describe the colombian story. talk about the big infrastructure push you are

making. oilenas: when we talk about , columbia is now a major oil producer. it's among the top 20 producers in the world, one million barrels per day. that is significant revenue for the government and for our exports come about 50% of our exports. out that means in terms of put is less important. it's only 5% of our gdp. that's why we can continue growing at a relatively healthy rate. columbia will grow this year, the imf said, 3.4% which is more than our peers in the region. betty: less than what you forecast before? cardenas: yes, we grew 4.6% last year. it's a slowdown of one percentage point but shows we have an economy that's able to adapt and accommodate the lower oil prices.

we have a flexible exchange rates of the currency has depreciated about 30% and that's good for the other sectors in the economy. if there was a business sector you would recommend people going to colombia for to make money, where would they make the best that's? cardenas: anything that is related to the u.s. economic recovery -- colombia and the u.s. signed a free-trade agreement that came into force when the u.s. was in the middle of the recession. we have not been able to take advantage of the strong dollar and the strong u.s. economy. the exports from colombia to the united states like textile and garment and processed foods and petrochemicals, those sectors have huge opportunity for expansion. another sector that is benefiting from our improved security conditions is tourism. colombiast sector in

is still a sector that has to catch-up. in other countries in the area, columbia has an opportunity there. betty: getting back to oil, you are producing one million barrels per day. are you going to the able to get back to that? it is lower than that now. colombia this year has raised production. last year we were slightly before the one million barrels in this year, we are producing on average 1,030,000 barrels per day. production is up and that is good because it helps us offset some of the losses of the declining prices. production is expected to grow. effort inve got a big refurbishing the transportation section of the country. much money is earmarked for

that? cardenas: three years ago, we began working on what would be the strategy to make sure colombia could continue to grow at rates between 4%-5% in a world with lower commodity prices. we knew the high commodity prices were going to be temporary. we began working on road concession program which is the fourth generation of road concessions. it is the largest initiative colombia has ever taken up. 23 roadr, about concession projects will be closing financially. the need of financing for these projects is on the order of $15 billion. that means there will be massive investment in infrastructure in colombia helping us offset some of the declines in oil prices. that will continue and keep the economy growing at a healthy

rate. betty: let's get to the peace talks going on right now. in cuba, i believe. if in fact the government is able to put together a peace plan with the rebels, kind of an impact will that have on the economy but also on consumer confidence in colombia question verycardenas: that's important -- think of colombia as an economy that can grow at a rate between 4.5%-5% per year. that is our track record in the last decade. with the infrastructure program, one percentage point. that is the economic dividend of these programs. are inthat piece, we peace negotiations now in have , the largestc guerrilla group. -- this is estimated the longest conflict and latin american history, 50 years.

it is at least one percentage point. it was supported by evidence. people have studied this. think of colombia as a country i can have a significant upside. one percentage point for infrastructure and another for the peace process. betty: thank you so much. that's it for me for this half hour. i hand betty: you over to my colleague betty liu. betty:much more i had in the next half hour. it's the airport so many of us love to hate, laguardia. is it worth spending $4 billion to renovate ♪? a property investor will weigh in. ♪

. .

betty: welcome back. let's take a look at some top stories is morning -- for the

first time since the start of the ukraine crisis, secretary of state john kerry will meet with vladimir putin in russia. he will see the russian president tomorrow in sochi, the site of last year's winter olympics. talks will focus on ukraine, iran, and syria. ties between russia and the west have been damaged by the fighting in ukraine and the west has imposed economic sanctions on russia and accused vladimir putin of supplying pro-russian separatists with weapons and trips. news from citigroup on the libor scandal -- the justice department has the client to prosecute allegations of alleged rigging of the interest rate. citibank says it's in talks with other groups and this one could involve a guilty plea. network's orderly profits beat analyst estimates and a imposed a pricing increase in january and february. its so-called

skinny bundle that sells for $20 a month. china is the biggest market for smart phones in the world but the market is getting smaller. new information shows shipments of full-featured mobile phones dropped by 4% in the first quarter, the first time that has happened in six years. experts say the reason for the decline is simple -- there are no more first-time buyers in china. those are your top stories this morning. in the next half hour, laguardia airport as sony problems and needs to be closed. that's what some people are suggesting. we will talk to a private equity and property investor that says he knows how to save laguardia. china's central bank is trying to jumpstart the economy, cutting interest rates for the third time in six months. we will tell you how the markets reacted to that move. pollhe results of a new that asks new hampshire democrats for their opinion of hillary clinton.

have you been to laguardia airport recently? >> if i blindfolded you had take you to laguardia airport, you must think i'm in some third world country. betty: nobody likes it. the port authority recently delayed plans for a $4 billion upgrade project. the transportation planner suggested simply shutting the airport down, saying not only is it too noisy but it can't be expanded because it's eccentrically water -- because it's essentially water locked. joining me now is the ceo of a company and was just named the investor inequity new york. he goes everywhere, including to laguardia. gateways the global alliance which chairs all of new york's major airports. you say don't close it down? we are desperate in this

city for airstrips, air engagement, air friendliness, air welcoming environment and cutting one third of our airport infrastructure is an error. to a horrible example -- a guy with an ingrown toenail and they say cut off the leg. we need our airports. betty: are you saying laguardia airport is an ingrown toenail? feels like it, it smells bad, but it can be fixed. according to this civil engineer who has worked for the city for quite some time, he the airport, if it could be expanded, great, but it can't. it can't go beyond it's for runways. it is water locked on three sides, so why not just cut it down and make room for either another airport or expand some

of the other regional airports? guest: his solution is not to cut it down, to cut it out. we are suffering greatly without enough runways and enough being ablein next to to fly in and fly the planes in and out of our city. cutting it by one third is too aggressive of a move. there are great alternatives that could go there -- low income housing, retail, etc., but that is not the answer to this situation. the answer is upgrading, investing, making it better. people underestimate the importance of airport infrastructure in a city and country. when somebody's making a relocate,n whether to what are the things they are thinking about? .ne is the airport system can i get people in and out easily? betty: the denver airport was rated one of the top he cousins

become an economic growth engine for denver, the city at large. this is an example of what infrastructure can do to the economy of a city. we've seen it elsewhere. san francisco has a great airport. but look at atlanta. a number of years ago, birmingham had a decision to make -- spend the money to upgrade the airport system and they chose not to have extra cost or taxes. what happened? atlanta builds the southeast regional airport and they boom and birmingham -- is too big airport for me. it's one of the biggest. three medium size airport instead of one supersized airport here. this "new york times" op-ed -- think about what the

acres of land laguardia sits on could be used for. it could accommodate over 30,000 homes. could it? guest: it most definitely could. but how do we say to ourselves we are waiting on line eight hours on the runway in the middle of a snowstorm for a plane to take off because we don't have enough runway and access in or out. now think if we cut off one third of our air system here in new york city. the new would it damage york city airports, it would have ripple effects across the country. statistic no one realizes is almost 60% of the delays in airports throughout the united states of america start right here in new york city. betty: so we are to blame? guest: we are to blame. we need to update our airport system. care about this? you build fantastic buildings

and you are in retail. why do you care about this? i love myove my city, country and i look when i travel across the world when i go to dubai, istanbul, the new airport they are building, paris -- anywhere around the world, you see these fabulous global gateways, infrastructure they have invested in in the airport system and how much is driving tourism, driving business. do you feel like it hurts your business? guest: most definitely. the current airport business hurts me. we own a lot of office real estate in new york and there's no question it's going to limit the amount of tourism. we have 50 million plus tourists here in new york. we don't come up with a solution, we are going to have two say are we happy with just capping at 50 million acres we will not be able to bring in more people. betty: great to see you today.

the ceo of store equities. , mark crumpton will be joining me. i can't wait. what's coming up? aboutwe will talk secretary of state john kerry. he will meet with vladimir putin. it will be their first talks after two years filled with tension in ukraine. i know you have covered the story and so have i. if you look at some of the body obamage between president and president putin, it is clear something is going on. it is clear these two men have issues with each other. they probably don't even like each other and the situation was exacerbated when russia decided to access -- to annex crimea over a year ago. we have international condemnation but president putin's poll numbers are skyhigh

. they're still the issue between washington and moscow on what ,hey can do to saw relations they are probably at their coldest since the cold war. we will look at that and other stories at the top of the hour. betty: it's not just the frosty relations between the u.s. and russia, but if you've seen angela merkel recently and vladimir putin -- temperatures are really low. mark: yes, they are. and president putin, if you listen to the foreign minister, russia can withstand this. they can withstand the sanctions, they can withstand ,he international condemnation but if you look at the way the ruble has been going during the course of this year, sanctions hitting the oil market, there's a lot to be worked out between these countries. betty: looking forward to sitting next to you here on the set. still ahead, china cuts rates again.

it is greece versus everyone else. we've got the global market coverage for you after the break. ♪

betty: welcome back. a quick check on how the markets are trading at midday -- the stock markets are ready much fluctuating. we had quite a rally on friday after the jobs numbers. the dow jones off right now by about 46 points. a bit off, moving quite today, you can see brent is now down almost by 1%.

you just heard the columbia finance minister saying they oil priced in $60 to $70 rent. treasuries are sliding and you can see yields coming up on treasuries. everything is off right now. also coming down for a third day row,e row -- third day in the euro and whether greece can repay the imf. john: equities are lower through much of the session. we closed down with the dax down. hereac down the ftse down by about point we 5%. when china cuts rates, you expect a bounce across european indices. the miners are the biggest gainers and china, the biggest consumers of commodities and commodity pursuit -- commodity

producers are getting a boost today. over in greece, you know the running groundhog day, out of time, running out of money. it looks like the tone is improving. the euro is off session highs. the markets at through the day -- the euro down by .4%. the other big story from friday, sterling, one pound by shoe one dollar .60 5 -- one dollar six five cents. just short of the 2015 hi. the postelection gains, we have some this monday. betty: moving on to asia, the central banks have a rate cut.

>> the chinese central bank has adopted a multi-pronged approach. they have cut rates three times and have been injecting liquidity, rolling credit facilities as another way to ensure activity and ready to keep money market rates low. goldman sachs is saying there will be a cut another quarter followed by another benchmark rate and citigroup looking for another 50 basis point cut. back to you. now back here in the states, julie hyman has the big --ries of the marketplace of the market day so far. on the plus side, the russell 2000 is actually on the rise. that means small caps are performing better than the

overall market. if you look at the russell, we have a gain of .5%, which is not huge but better than the major averages. back to crude oil -- we see the decline, snapping the winning streak it has been on and it is pulling down energy stocks. that seems to be the big stumbling block. the nasdaq is little changed while the dow and s&p are more deeply in the red. some movers include exxon mobil which are declining. also a deal in the energy industry -- noble energy will be acquiring rosetta resources. noble will assume some debt as well. $26.62 is the price they will pay for rosetta and those shares are rising. incidentally, there's a bankruptcy filing today.

a company called american eagle energy. just the changing dynamics and some bankruptcy filings that have been coming in as a result of lower oil prices. betty: surprise we haven't seen more of those so far. with a look at some of the top stories, more than 100 deaths are blamed on faulty general motors ignition switches. it is three more than the total confirmed just last week. the attorney overseeing the compensation fund says families will get the payments and the awards are planned toward 180 people that were hurt. president jimmy carter is back home in georgia after falling ill during a trip in south america. was monitoring the election and yana. his organization said only that he was feeling under the weather. mr. carter is 90 years old. and as the beginning of the end for a television franchise --

"american idol" will go off the air after the upcoming season. this will be its 15th year. it was once the biggest thing on tv with more than 30 million viewers. it is now trying under 10 million every week. it is still anointing new rock stars. shirt --leanest dirty just one of the euphemisms used to describe the u.s. economy. dick parsons, the former chairman and ceo it time warner added a new one to the list. >> i think we are the tallest midget. no one is doing great. are doing better and doing better and there are areas that could be strengthened. rest of thethe world, we are the tallest midget. it's like snow white and

the seven dwarves. he should be calling us snow white. coming up, hillary clinton is still leading the democratic contenders the 2016 race. more on the results of the latest bloomberg politics pulled when we return. ♪

betty: despite a swarm of recent controversies, hillary clinton is proving durable. in new hampshire, home of the first primary election, 86% of democrats say they have a high or somewhat high opinion of the former secretary of state, according to a bloomberg halle ticks pull just released this

morning. phil mattingly has been following all the presidential contenders and joins us now from washington. clinton seems to be pretty durable. how durable issue going to remain as we push into next year? rough i've orn a six weeks for the clinton camp just based on some of the stories you referred to -- the e-mail stories, the never-ending stories on the clinton foundation, cash dedicated to looking at the clinton foundation, the factor #ain't gained a high level is important. everybody says of course democrats support hillary clinton and of course she has a favorable opinion overall. but in light of everything that has happened over the past five or six weeks, candidates without the money or big name id sit outside, or ability to maintain high numbers helps ensure nobody can make any kind of money or step in there.

self: so it is kind of perpetuating. she's favorable because she's the only one out there and because she's the only one out there she keeps everyone else away. phil: that's true. we were talking to people who took this pull -- this pull who said she's the most likely person to win for us. she's got the infrastructure, she's got the money, it makes the most sense. one key thing that came out of this poll is while the democratic members look totally fine for her, her overall favorability numbers amongst general election voters fell eight points from february. while it is not having a major impact on the democratic side, hillary clinton will have a lot of work to do once it moves to that area. this election will be decided by the swing voters.

so on the flipside, with the republicans, according to your poll, is there any particular front runner gaining the most favorable status? clinton becomes more clear by the day, nobody is becoming the clear-cut republican nominee. it was a good one for rand paul. he and jeb bush were up top with about 12% each. but things are so crazy in the republican field that donald trump is within the margin of error of the top people. do you know who is behind donald trump? chris christie. in all sorts of early states, it's tough to define one way or another where it is going to go. chris christie, the nude jersey governor definitely needs new hampshire to be able to play if he decides to jump into this race. this is the second or third pull that have shown his numbers way

down and that's the biggest number i saw out of this pull -- this poll. betty: is chris christie behind donald trump question mark phil: within the margin of error. he's one point behind donald trump. i'm sure that's something his political team did not like to wake up to and look at. team in the good state and he's been in the state a couple of times in the last few weeks. it's clear when you talk to people around his orbit that if race, newto this hampshire is make or break and he has to show major gains soon or there's a possibility that it doesn't make sense for him to get into this race. it doesn't at all, though he is still trying. up inbody stepping republican leadership and saying enough is enough? : i think one of the interesting things in this poll and three or four consecutive polls is this -- it's so early.

this pains me as the political reporter to say it, but the polls are going to shift more and more by the end of the day. when you talk to leaders in the republican party, the rollout for marco rubio has been big and important and that's reflective , sohis pull -- this poll keep an eye on marco rubio. phil mattingly in washington for us. coming up, we will hear from the cofounder of airbnb. he's among the entrepreneurs meeting with president obama today for a summit on how entrepreneurship can install some of the world's biggest problems. ♪

it is 10:00 a.m. and san francisco and 1:00 a.m. and hong kong. mark: this is "bloomberg market

to." john kerry will travel russia at meet with president putin and other officials tomorrow to discuss a full range of bilateral and regional issues including iran, syria, and ukraine. the state department released the news in an e-mail statement. european finance ministers are looking for some sign of progress from greece today. the government is running out of cash. aboutow, it has to pay $840 million to the imf. the saudi king is skipping camp david -- a number of issues will prevent the king from attending. the saudi's and other gulf countries have been concerned the united states is being too accommodating toward iran.