the tesco shareholders claim that they will seek to bring an action against tesco.s quite difficult to get from fred campbell how many of the institutional investors he will have behind him. the share price is down. let's talk about h&m. this is europe's number two clothing retailer. the stock is down by 2.4%. 80% of the products are sourced from asia. we saw a little bit of hit on the mergers. finally, deutsche bank. it is gaining from 1.1%. this is the bank that runs europe's biggest investment bank. they may wind down some of the bank. it may review options to boost the firm's profitability. ♪ francine: welcome back to "the pulse." live from bloomberg's london headquarters. the greatest minds in the finance world are gathering at the u.k. forum. >> good morning, francine. we are kicking off this week on the banks of the river thames. we are with a professor from the london school of economics among other things. one of the topics on the agenda's monetary policy normalizing monetary policy. you have been teaching economics since the 1960's. what advice do you have

shareholders turn up the heat on tesco. property overstatement, when will tesco troubles end?time soon it seems/♪ jonathan: good morning and welcome back. some of bloomberg's top stories. china manufacturing all into can -- contraction. it is also an 11 month alone. investors did not seem so discourage. the shanghai closed 0.1% higher. deutsche bank is said to be shrinking its services and will consider several options. one is cutting investment bank toe almost 1/5. hsbc and rbs have to rewrite plays in showing how they could unwind in a bankruptcy in the u.s. they will have to resubmit their so-called a living wills to u.s. regulators after they said their plans were not credible. it is required by the dodd frank act. shareholders turn up the heat on tesco. plans to bring action against a u.k. grosser after it overstated profits. the lives of tesco's troubles. our bloomberg analyst joins us. what is the problem? is it reputational thing or the number? charles: i am sure it is the number. we have to put the number in context. it was 263 million pound overstatement. realistical

he did lose money in tesco.rican express has been a terrible performer this year which is one of his big ones. so there are -- you know, he's saying, look my perspective is a 20 30-year perspective. if you're trying to gain me or -- he's not going to do that. i have to admit, american express, i am surprised this morning, again this costco deal goes to visa. >> yes. >> and that is a very bad thing for american express even though they'd say listen we're not going to give business away. 70 cents of their earnings power. >> you're still reeling from that, frankly. >> would never have bought that stock for my trust. >> everybody was blindsided. >> never would have bought it. had no idea it was this big. i thought it was much smaller. and buffett wants to take a long-term view. they're buying back stock and that's great. there are issues when you lose a lot of your future. you basically are an america's best client the moment they do that. and this was bad. >> yeah. >> and i wish the company had been more forthcomin

guy: it is in tesco's. lindley: we have done the hard part getting it on the shelf. done the marketing. guy: you sold the business for a significant amount of money. you are setting up a second business. it comes with a different financial profile. lindely: yes, but i'm keen to have those hard feelings with a small team we've have got to make sure we can make every penny work as hard as it can but i think there is so much learning in that and good can come out of that. i'm exactly trying to match how i felt at ella's. it is a risk but let's try and make every penny work. guy: it is easier going to a large company like tesco and saying, you've seen what i did before. i can now deliver something else. that reputational advantage must exist. lindley: yeah. it is an undervalued word. your reputation is good. it does count. yeah, it took me 500 phone calls to get to see any buyer with ella's kitchen nine years ago. it took a handful of phone calls to set up meetings now. and it's an idea that should appear to retailers because i think it can grow their market with a trust

tesco has been opening convenience stores since the early 2000. they are expecting that.ree the shopping has changed has surprise people. jonathan: charles allen, thank you. equities, a little stronger. auto leading. the dax is up 40%. closing 12,000 points yesterday for the first time ever. all time highs. i want to bring up the euro. the single currency, a stronger euro. euro/dollar 0.25% off of session highs. forget parity. we have gone below parity. bank after being slashing their forecast of where the euro is going to end up. coming up, we will head to israel. and they head to their polls predict we will head to tel aviv for the latest. the beautiful tel aviv. ♪ jonathan: good morning and welcome back to "on the move.” i am jonathan ferro. the general election which can see benjamin netanyahu defeated at the polls but to retain his position as prime minister. if you are confused, i am a little bit. a man that is not confuse, elliott gotkine. he is here to explain the it all comes down to i guess voting blocs rather than the party. give me detail. elliott: that is rig

tesco is for the public policymakers and in this case public policymakers are brothers. i was just in colorado out of denver and a thank you note the 50s, these potheads force dishonest. -- force dishonest. it is decided by people in suits. if money is in here too. this was decided by a soon well-meaning public servants and some people enthralled to financial interests and others who genuinely believe this is a good interview. but it wasn't some takeover by the pot smoking lobby. it was something done by citizens and i hope the deliberate process, but not delivered it enough. >> host: your rendition of this, first of all let me ask, why do you think public attitude on marijuana has changed? >> guest: several rings. one, a very smart finance campaign for marijuana. thursday's money in here. you can read a lot of story about how this is the investment of the year the greatest growth. more and more big money. the people for legalization whales and as they always do the people who are opposed in florida where nearly escaped legalization to get a 60% vote in florida. they got

you would be diversified through the industrials and companies like danon, even some of the local tescoshe world across the european continent are doing very well right now. and i think they will. >>> coming up, the bulls are chasing one biotech stock. we reveal the name and the trade, after the break. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network, and cloud and hosting services - all with dedicated, responsive support. with centurylink as your trusted technology partner, you're free to focus on growing your business. centurylink. your link to what's next. a dentist appointment when my teeth are ready? ♪ can it track my crew's performance, and protect their heads? ♪ can it tell the flight attendant to please not wake me this time? ♪ at cognizant, we see opportunities for every company. to meet the new digital demands of their customers. can it process my insurance claim? like, right now? can it download a track while i'm sampling it? can m

same with the tesco and they have taken a huge hit and they are expecting maybe no profits in the second again, it depends on what happens over the next few months and whether we see another step down and profitability. anna: charles allen joining us with the latest on sainsbury. "on the move" is up next. manus: happy st. patrick's day, everyone! ♪ jonathan: good morning and welcome to "on the move ." i am jonathan ferro. minutes away from the start on european trading. more records broken. the dax north of 12,004 -- 12,000 points for the first time ever. japan's low inflation. the bank of japan's kuroda could not reluctant possibility that inflation can go below 0%. the shanghai composite close at the highest level since 2008. extending the world of beating. it surged over 70% in the past 12 months. another monster valuation. internet startup interest, $11 billion, double the company's valuation 10 months ago. the three things we will be watching. euro stocks future data flat. dax is up the nine point sprint let's get over to manus cranny. a very special day for the irish manus cranny.

>>james:yucaipa companies bought the chain out of bankruptcy two years ago from british retailer tescoas introduced new services, such as the "click and collect" service. >>james:it allows shoppers to buy online and pick up the items at the store. "there's only one way to survive together >>james: authorities say when they arrived on scene they're also attacked official said two suspects were shot one of them killed seven people were taken into custody police said a 31 officer also and headline this morning thousands gathered in new york to say goodbye to seven children killed when their home court fire >>: there's only one way to survive this. >>reporter:the children's father gabi sassoon, spoke to the crowd of thousands outside of the chapel, remembering each and every one of his kids, who really had just started living their lives. the oldest, only 15. the youngest, 5. >>:"rivkah, she had so much joy. she gave joy to everybody." >>reporter:it is a predominantly orthodox jewish community. shaindy first met gayle sassoon the kids' mom, 7 years ago in jerusalem. >>:"she adored her chil