siemens could be withdrawing its bid for alstom. this is after the ceo told bloomberg television that he won't be forced into an offer for the french firm. and that has got more details for us in frankfurt. they are doing an energy deal with rolls. what do you think their real view is on the perspective of the ge alstom tire? >> they probably think it's a difficult bid to win. but they also are thinking that, first of all, look at the data, which is called the data room, of course. we do that due diligence and then decide whether it's worth to make an offer. those reports right now are actually a little bit misleading, i would say. as joe caseza was talking, they will decide whether they make a bid or not. those reports that are -- the quotes they're not letting them being forced into a bid for alstom also has to be with a certain perspective. at least here in germany there were reports that siemens is just playing a role in that bidding process so that ge has to pay a higher price for alstom at the end of the game. and that might a

improves its ability to win the battle for alstom. we are back with that breaking news. ♪ >> welcome back to "the pulse." ge's ceo has made an improved offer for alstom. that is according to french officials. he and french officials met earlier today to discuss the deal. a saxon banke from analyst. thank you for coming to speak to us. the news is just raking. ge's offer is more precise and strengthened. offers jobs and decision-making in france. how close do you think immelt is to winning over the french government and getting alstom? >> good morning. actually, i believe that immelt made a very good offer. we can expect that, regarding jobs, it is a work in process and we can expect more concessions regarding the offer from general electric. it was a very swift move on the government to put pressure on the ge offer. isdo you think that immelt inching closer to attaining control of these units of alstom? is he winning the battle to win over the french political system or not? >> i truly believe, i am very confident that ge will win thi

alstom higher by around 1.5%. ge slight underperformance relatively up around 10% but outperforming the german market and siemens absolutely unchanged. valiant pharmaceuticals is making an investor presentation in new york at 8:00 a.m. eastern, where the company is expected to raise its bid for allergan. earlier this month, they rejected the $46 billion cash and stock offer. on tuesday, the company attacked valeant questioning the viability of its organic revenue growth. separately, valeant is selling the rights to five products to nestle for $1.4 billion, a deal it says is not contingent on an allergan transaction. quick check now on nestle. relatively unchanged in trading today, too. >>> we mentioned gsk earlier. the fraud office is open to criminal inquiry into glaxo smithkline. no details right now have been released about the investigation. gsk was recently accused of massive and systemic bribery in china. the drug company also faced allegations of wrongdoing in poland and iraq. katherine boyle is with me now

what do they want to get out of alstom? >> some sort of one-sided offer and wee heard about conveyed her interest that we would be willing to talk to shareholders. line, joe kaeser wanted to be given the opportunity to have a look and that is what they are doing. they're not going to consider any type of three-way bid with the general electric. >> he came under political pressure in germany when he went to russia after the annexation of crimea. to beela merkel said extremely annoyed about that. he is still on the intent of -- on the agenda for the st. petersburg for him. onthe amount of things going in our organization, the dedication and leadership it takes to get this sorted out in a meaningful and long-term way, this requires me to be here. >> he will have to cancel. righto what i believe is and not what the mainstream says i should be. think the point is, he is not going. vladimir putin is going to be fairly lonely in st. petersburg. much, david so tweed. let's turn to alstrom. bring us up to speed with what we heard th

alstom is weighed down by heavy debt. two major foreign companies are vying for alstom's energy division that makes turbines. siemens and general electric, but this union representative said he'd rather see government investment in alstom because a take-over means uncertainty for employees. >> translator: workers are skeptical. there are a few questions about the future. they know in a take-over like this it affects jobs. so the real issues they have are about the future, and it doesn't look very good. >> alstom is in a very difficult position. many want it to stay in french hands, but the company isn't viable on its own. a take-over is inevitable, and ge looks well placed to do that. they have two buildings on the alstom site. the workers here are still concerned about their jobs. the french president fran choice hollande promised to boost the economy and create jobs when he came to power two years ago. speaking to french media on tuesday, he e said ge's $13 billion bid for alstom is not acceptable. the mayor believes th

alstom has to decide on that by june. french government has been openly critical of ge's bid. >>> and google's also reportedly trying to strike a deal to buy the gaming site twitch for more than $1 billion. this according to a report in variety. twitch is the privately held video streaming service for gamers. this report suggests the old cash transaction would be announced imminently. twitch was founded in 2011 as more than 45 million monthly users. shares of google today are off 2% in frankfurt. >>> another big story today is deuts deutsche bank with the plans to raise 8 billion euros in fresh capital. the jer mgerman lender launch p over the weekend in a bid to put an end to questions about the capital strength. you have to remember, it raised $10.2 billion euros in a 2010 offer. 3 million in 2013. back then, they said they have come to the end of the long hunger march for capital. interesting about this deal, the qatari family is taking a part in the measures. in a statement, the bank says it will accelerate its growth

thethe board of alstom and ceo of alstom wanting to tie up with ge.iemens here in germany wondering if they can make a play. do they want to play ball? >> we are here on monday, aren't we? us andk you for joining keeping it here on bloomberg. tom keene and his team is coming up next from new york. ♪ >> there is definite eastern ukraine as kiev readies for us on the election and we speak to robert hormatz in this hour. meg whitman and hewlett packer consider a lack of growth. memorial day weekend beckons. go 500 miles in indianapolis. good morning, everyone, this is "bloomberg surveillance." it is friday, may 23. joining me is scarlet fu and adam johnson. let's get to our brief. businessght, german confidence was weaker than expected. existing home sales -- new-home sales at 10:00 this morning and foot locker will report before the bell. that is the brief. >> let's go right to the data check. look at stocks, bonds, currencies, and commodities. it's an ever weaker euro. to $104 peris up barrel.

you work with siemens and alstom.e me some specifics. >> from this point of view, i cannot count any actual result of the sanctions which is helpful to russian railways so far. russia's largest borrower, one of the largest corporate borrowers. have you seen a rise in your borrowing costs? >> this is one of the largest companies in the world, not only in russia. haveurse, our developments influenced the development of russian economists. we did not see any harm, so far, done by those sanctions. it is not very good from the point of view of eurasians with the business community. for those people, we have long-standing conflicts. it is not accepted. those people would like to continue. they would like to develop. that it is ang one-sided decision. toi suppose it is helpful political atmosphere, . this is not good for russia, america, or europe. >> you mentioned a word personally. how has the fact that you have been personally sanctioned, banned from traveling to the u.s., any money that you had there would be frozen. you

>> siemens wants to submit an offer to alstom.t was given two weeks ago access to the nonpublic information in order to prepare an official deal, an official offer for the time being. there is no bid on the table. siemens is still working on it in connection with the french government. there's almost no doubt that the german company will make an offer at the end of the month. this is when also alstom is expected to make a choice. alstom is looking currently at the offer from general electric and the panel of experts is looking at the offer and will bring its conclusion at the end of the month. we'll talk about that story a bit more. >> i'm sure we will. i'm absolutely sure we will. good to have stories to talk about. for now, stephan, thank you. >>> it's that time to talk about access middle east. on may 26th egyptians go to the polls to try and elect a new president. the former army chief is the popular front-runner. can he convince international investors that he's got what it takes to turn the economy around after three years t

there is a slight wrinkle in alstom doing so. alstom basically makes trains and power turbines.who buys trains? the state owned railways. who buys power turbines? the state owned utility, so the government does have leverage here. >> thank you so much. let's stay overseas because the media world is also being turned upside down these days and not only in the u.s. with all these mergers. in europe, several deals worth hundreds of millions are in the works and more u.s. entertainment companies are beginning to jump into the european market. joining me for more is ed lee. netflix said that they were expanding into the european market. >> looking for more growth, pretty big in the u.s., but they are in a specific niche. of course, they want everyone to do it, but very smartly, what they are doing is exploring other regions. it is a straightforward technology, easy for people to understand and get. why not jump into it? >> isn't there a competitor already? >> yes, there is a competitor out there in the u.k. they do not want any homegrown enterprises to get a jump start on them. >> we

. >>> siemens is readying a former offer for alstom. the deal reportedly involves the transfer of its rail activity and less than 7 billion euros in cash. the cash component is smaller than ge's offer, half of what the u.s. giant is offering. both siemens and alstom have declined to comment on the report. >>> shares in intercontinental hotels group trading significantly higher after press reports that the hotel has rebuffed a 6 billion pound takeover bid from a u.s. rifle. according to reports on sky news and in the telegraph newspaper, the board of the crown plaza and holiday inn operator met a few weeks ago to consider the offer but agreed it was too low to accept. according to analysts cited, the missfully bidder could be starwood or a specialist investment firm. we don't know. stay tuned. we'll be talking with william vereker, head of corporate client solutions at emea. that's coming up at 11:00 cet. any questions or thoughts for yannick, get me @worldwideexchange or tweet me @juliachatterley. you can also e-mail at w "worldwide exc

alstom employs about 8300 people in the country. in a statement, ge said we had a constructive discussion about the details with alstom. we have made progress and look forward to the conclusion of this progress. alstom's board has until june 23rd to vote on the offer. now, government officials in france have been resistant to ge's offer. they're concerned about losing an industrial gem and about losing jobs and for alstom, losing a power business that's far stronger. >> thanks very much. no steering wheel, no pedals, google wants to built a fleet of them and begin testing them, but what are the chances that we might see driverless cars on the road anytime soon? phil lebeau joins us from chicago. >> tyler, we're a long way from the -- with the tree. take a look again at this video. this is really cool stuff that google unveiled. it is a driverless car. this is a prototype at this point. they showed it at the conference. they planned to build 100 of these over the next couple of years. google's driverless cars have no steering wheel,

alstom missed estimates for the full year net income.validate the $17 billion bid for the energy unit. the ceo just walked in about an hour ago. he is on a conference call at the moment and he was told in a press conference in about an hour from now. they reserve the right to engage in talks with serious bidders. a message here for siemens. they have not come yet with a binding offer. the conditions are not met for siemens to access. the french government has been pretty vocal, i do not want to give them away that easily. we had francois hollande saying yesterday the offers were not sufficient, not acceptable. what does the french government mean by saying that? i talked to the friends -- to the french find -- the french finance minister. against not about going it. the french government is not here to counter any offer. it is here to check whether french strategic interests are respected. you have the jobs, decision centers, and what happens to production, especially in the energy business. it also in regards to french public orders. >>

there is a nuclear aspect and a nuclear unit instead of alstom will stay inside france. a quiet -- a quote from the head of operations. we will answer the government's legitimate demand that they'd nuclear unit remain french and that exports be protected. that is a pretty clear signal that would ge wants is they don't necessarily want the train unit, that will stay in a alstom unit. if they don't have approval, it will be difficult to get francois hollande who is in a more difficult position after election results. what does he do with this offer from ge? of course, siemens is also waiting in the wings. give me a clue here. siemens, what will they do? are they going to make a move? what is the thinking? >> there is a report out from reuters over the weekend that they are going to offer 7 billion in cash along with their rail unit, and then siemens would hand over that rail unit. they get the nuclear energy business and that is what siemens gets. we don't have a formal offer from siemens. >> ok, hans. up, a new president and a new path. will ukrainians benefit from a clos

he is seeking approval for a bid to snap up alstom's energy unit. ge said it would keep their energy unit in france. the world's largest hotel chain has hit an 11-year high. intercontinental rejected a takeover offer from a u.s. company. the identity of the bitter is unclear, but some say it was starwood hotels & resorts. really --s saakashvili said it was a blow to putin. >> that has never happened before in eastern ukraine. that is a new reality. , but a big blow for putin the west has to capitalize on that the -- on that. now they voted for freedom. >> that was georges former president -- that was georgia's former president. ryan joins us with a preview of what he will be talking about in kiev. >> we will have more from my interview with the former president of georgia and i will take a look at petro poroshenko and his tough talk on russia. he is upping the ante in the country's conflict with the kremlin as fighting rages in the east. ♪ >> welcome back to "the pulse." economic heavyweights are gathered in portugal for an ecb forum on central bank

in combination with the potential bid for alstom, siemens has promised to guarantee french jobs. not an example of efficiency if it will be restructuring in germany. >> that is going to be hard to communicate and hard to negotiate if siemens is going through with the bid for the alstom energy division. they are still in competition with general electric out of the u.s., bidding for the energy division of alstom, a division that is building power plants and turbines, a business siemens itself is engaged in. as i said, guaranteeing french employees the jobs for three years while putting the ax on your own workforce at the moment, that will be hard to negotiate. >> chirstoph kober, thank you very much. onto friday's market action. with investors struggling to find any compelling reasons to buy or sell, european shares drifted just below record highs. our correspondent sent this summary from the frankfurt stock exchange. >> traders here on the frankfurt floor listened carefully to what joe kaeser had to say about the cost reduction plans at siemens. it did not benefit the share, thou

the relationship between siemens and alstom.ough the connections. >> the french think industrial jobs are systemic. whatever siemens ends up doing , it will affect their attempt if they do make a formal bid for alstom's energy business. ge has made a bid. siemens has made in there and themr -- siemens has made in their informal offer, not to have job losses for three years. it is how credible a promise like that is if they are cutting elsewhere. kaeser and time, siemens are interested in alstom's energy business. the decision will be made by alstom's board and the french government, which will be attuned to the french people. especially after the disastrous poll results. does hollande want to show he can do something to revitalize france? is it a bit from an outside where american company? we are going to be talking about this. fascinating. >> great angles. thank you so much, hans nichols joining us from berlin. of the rightthink to be forgotten. google's next big challenge after bowing to an eu roluling about personal informati

they are looking for deals like this with alstom. they are still pretending or going through the motions of being interested. they have not submitted a formal bid. if and when that happens, it will be up to alstom's board. >> think slot. hans nichols, our international correspondent in berlin. the japanese government is hoping deflation is a thing of the past. prices rose at the fastest rate in two decades. david iglesias is in hong kong with more. >> you mentioned, that is the key thing here. have numbers for april. that is when the sales tax was increased. the fastest pace of inflation since 1999 -- 1991. it is important to strip out the effect of the sales tax. everybody expected that to happen. what you got more or less was an inflationary move. costs also exclude energy -- that is partially why prices are where they are. but you and to see whether there is a continued pickup because of demand. to some extent, we have seen inflation in japan. japan imports fuel with a weaker currency. back to the headline number, 3.2%. one of the

>> very good, hans nichols on the latest with ge and alstom. up next, germany's top measure of business confidence. we will see what investors are watching as the gdp numbers come in. ♪ >> first. bloomberg. time for today's company news. hewlett-packard is cutting more than jobs. in addition to the 34,000 positions already eliminated, they will be cutting between 11,000 and 16,000 more. they report a second-quarter sales that fell short of estimates and gave a disappointing profits forecast. a single model as part of its bid to and losses in europe. the car will be sold only in italy by 2016, consisting of one vehicle for fiat. wants toian brand produce the spider, featured alongside bridget ardo. sold $5 billion of bonds in the first offering since the bank unit pled guilty to helping americans cheat on their taxes. the sale show that credit suisse is not being punished at the moment by the bond market, even after moody's downgraded them. welcome back to "countdown." i'm manus cranny. germany's most watched business measure of business confide

. >>> germany's siemens requested further information from alstom. this is the latest development in the ongoing battle between ge and siemens to acquire the energy and transport giant. stephan, earlier on this week, we got reports that siemens was going to make an offer as early as this week. with the latest new now, do you think that will be delayed? >> we don't know. we don't even know what type of information siemens has been requesting from alstom. alstom claims that siemens has been given access to the same nonpublic information as general electric. we are still expected the german group to make an offer for the power units of alstom. it's going to offer probably its business plus cash. also to get the french approval, siemens is now expected to hand over the wind and nuclear assets to another french company. yesterday the ceo of another company said they would be interested in the wind buyings of altom as siemens could make an offer by the end of this week. so far, general electric made a formal bid, it's offering 1 $.9 billion for the power u

jeffrey immelt as that company trying to woo legislators about its interesting in alstom. with french president hollande. we'll monitor details that come out of this over in france now. stephanie, you own ge? >> yeah. >> what do you think about this proposed transaction? the competition with siemens, et cetera? >> we want resolution, one way or another. ideally, we want ge to build their industrial presence. right? to get to 75% to be industrial, the rest financial. this gets them there but kind of odd assets. more power and less oil and gas. i think some investors might applaud if they don't get allstrom may go after more oil and gas properties, higher return assets. i think one way or another i can make a case for either side. getting allstrom or not. we wan resolution, likely to come at the end of the month. >> as i said, mary is monitoring that and will bring any headlines that come from mr. immelt today. >>> another news, hillshire getting an offer from pilgrim's pride for $6.4 billion. most interesting is that the move comes just two weeks after hillshire offered to

alstom shares, you'll see they're down marginally, 28.91. and we should show you shares of ge. >> so a dramatic improvement. because the finance minister was saying the deal was not going to happen, they had into national champions. so for hollande to say they need to pay more money is dramatic improvement. >> it's normal for the president of the country to weigh in on a merger like this? >> yes. it's france. >> when dannon was almost sold to pepsi, oh, no, no, yogurt is a national treasure and they halted the deal. >> happens all the time. sanofi -- this is a leg -- >> the minister next week said do i need to install lie detectors in my office? he told me it wasn't for sale. >> the president said he was pissed off -- can i say that on tv? because hadn't been told about the merger talks. >> this was my question to meg will, was anybody in congress going to complain about copper tone being sold. no. not a word. >> john boehner might. >> that's right. >> by the way, much we are sunscreen in europe than they do in the united states. there are c

we expect them to make a formal bid for alstom's energy business. about guaranteeing jobs for certain number of years. how strong will those guarantees be of more jobs in france or certainty of jobs in france, when elsewhere in the global siemens business, they're trimming positions? it is going to be hard to aeser.e that one for joe k >> thanks very much indeed. let's give sense of where these markets are right now. we have the head of market strategy at lloyds bank. good morning. up.ties up, up, for how long? the think it is the mix of liquidity provision and the relative valuations, as well. hand-in-hand with this, it is worth remember and that the bond market has rallied. we have got tenure notes, even after a correction. every asset classes on a high, so to speak. >> volatility is low. can makely way people money, particularly as we are not getting this big normalization in a macro story, is to go for carrots trades come an incremental gain, if you like. it means until we see immaterial shift in how that game is being played, i think that boils

they were interested in some of alstom's energy assets. another business which does not have terribly high margins. but it is a bit difficult politically because just after crimea was annexed by russia, he goes to vladimir putin's private ata outside moscow. angela merkel a little disappointed with that. she said she understands the need for german businesses to continue links with russia, but at a time when she is talking about ramping up sanctions against russia, what would -- what with ukraine blowing up thomas he is going to angela merkel and saying, i would like to have a meeting. can you please support our bid? politically, it is looking difficult. we do know if he has asked for that bid. we do not know if the meeting has taken place. i will ask him that question on wednesday when we have the strategy review, because it will be here in berlin. >> looking forward to that coverage coming up later this week. thank you very much. what else is on our radar this monday morning? the u.k. is enjoying the holiday. u.k. government is coming to

this european countries cancel plans for new tall palms deeply intense alstom does still managed to export its expertise like these gigantic tabling is installed on the timing china they're among the most helpful as a built in the womb. i waited a long time ago although french politics that crosses the prime minister the national front in the may day demonstrations for grabbing the headlines this week is a summary of the topical story is the last seven days. you'll make is that these manuals thousand reduction plan that behind every now and until recently seeking evans declined to vote in eighteen forty one from the prime minister zoran socialist causes a sign that they may be tough times ahead for bounce after taking office last month. the site annually to make it look if we keep the doors don't open youtube it was good to you at the leading edge of the doctors and his socialist members are meant to be insufficiently headed to the mall it to the look on the balcony facing more and more within the league and his rank is very festive active competence is prime minister. so in heaven associa

they would bring their rail signal part into the deal and part of the deal that would transfer to alstom in case of a deal or in exchange for its energy business. ross? >> stephane, are you going to move to london any time soon? >> i could, why, do you want to invite me. >> well, yes, now we are the home of more billionaires than anyone else. i think you'll feel at home. >> i'm not a billionaire. >> but you have the qualities of one. yes, this is true, stephane, london has clenched the title of the super rich capital of the world according to a study in "the sunday times." more billionaires are living in the british capital than any other city including moscow and new york. the number of billionaires in the u.k. has risen to over 100 for the first time, which creates a combined wealth of $301 billion pounds. and that means we have more billionaires per capita than anyone else in the world. >> because we are little. stephane didn't know if that was a compliment or criticism. >> what? >> when you said he has the qualities of a billionaire. >> i meant that he can enjoy the higher qualities

reuters reports that siemens is preparing a formal offer for alstom. that would mean a slightly higher volume on alstom's energy activities than the ge bid. but only a little more than half of ge's cash component. >> all those deals. >> was it astrazeneca that was resisting or was it political -- >> i think it was astrazeneca's board. the other deal we didn't talk about, the deal that wouldn't be or hasn't happened yet. apple and beats, the head phones. how upset apparently apple was about the video with tyrese and dr. dre with the heinekins. i need not say more. does that deal not happen? culturally this is so weird that we can't do business? >> who is upset. >> apparently the apple people. >> tim cook? >> potentially. at minimum, the lawyers are. it's more of a cultural issue. one of the reasons they're hiring these people, they want to hire them and work there. it's not just dr. dre. it's ivine -- is that his name? now there's anxiety about how -- >> a little bit? >> how they'll all mesh. >> a company that is so siloed and controlled in its media me

ge is seeking partners on its $70 billion bid for alstom. -- $17 billion bid for alstom.pbell soup reported better than estimated third-quarter earnings. it now expects sales to grow above three percent, down from a previous range of four percent to five percent. "godzilla" towered over the competition. the remake took in $93 million in north america. warners produced by bros.. bloomberg television is "on the markets." scarlet fu has more. >> it is time for futures and focus. copper futures rallied more than two percent last week. that is the most since march. joining me with a look at where copper prices are heading and how you can make money off the .etal, greg binder greg, let's start with you. what is likely to move the price of copper. correlation with other commodities, part of the risk on, risk off with other asset classes? >> the theme seems to be housing. if you look in the u.s., last week we had better than expected housing starts in april. lower yields for more affordable mortgages. 40% of the demand comes from china. china isng market in anything but stable. t

the move strengthens his hand, in the battle for french energy assets like alstom.eneral electric wants to acquire alstom's operations, hard to say by the way, for more than 13 bill dollars. >>> over to switzerland where christie's set a new record for a top jewelry auction with this gorgeous blue diamond. wow. christie's rebaining top auction title from sotheby's a day after losing it. swatch group harry winston, bought the 13-carat rock, for a school $24 million. i can't even speak because it is so gorgeous. i must have it! no. landing in germany where coca-cola has been launching teeny, tiny key of courses to promote its sodas. kiosks. selling customers little cans much coke. i love them. the kiosk comes complete with other shrunken products with pastries. i don't know, i think it is cute. >>> back to the u.s. where measles is making quite a mess. ohio having a rough go with largest outbreak in two decades. nearly 200 cases reported across the country. how did this happen? dr. manny is back with us. i thought we have a measles vaccine. >> we have a measles vaccin

so we have seen alstom, we're all wondering what happens with that siemens/ge type battle for alstome moment. maybe we'll get a chance to talk to him about that. we also spoke to jean-francois decaux. he runs the big billboard advertising business. his view, some people don't have the stomach to do business with russia. >> when you look at what has happened in russia, if you don't have the guts to invest here, you better stay at home. >> all right, geoff. >> that's the story here from st. petersburg. i will tell you, i got a little bit of breaking news hot off the presses. we did talk to alexei mortischoff. they have operations in deerborn, michigan and mississippi. there was talk he was going to pull back on those investments. he told us he's not taken a decision on that. >> the delay is so big, i referenced this to andrew, the alstom deal, if you do get to talk to the corporate guys at alstom -- >> doesn't matter. >> unless they tell you what the government is telling them, you really can't -- they don't know what they'll do with siemens and ge, do they? they don't have a choice. >

ge'sancois hollande says bid for alstom is not sufficient.w the european markets are trading. zÜrich, soy is in look it over to jonathan ferro. >> how would i describe today? choppy. we were high up the low by a third. the ftse 100 stays lower. barclays stands by four percent. it is on the investment bank revenue side of things that is a little bit of concern. that is not just a theme for barclays. it is been a theme for the banking industry. however plays out will be interesting going into the next quarter. sizable moves for the pound. 169.45. -- 1.6 945. it is three quarters of the u.k. economy. if you thought policy was going to be boring for the rest of the year, you may be disappointed. the euro went up by 4/10. corporateiticians, across the eurozone, the exporters, what is going to push the euro down? we are above 1.39. no ecb talks until thursday. expectations of the ecb are pretty low. who was going to talk us down? janet yellen? she's the smart. is that -- she talks tomorrow. is that enough? don't get your hopes up. >> don't get your

a riva, a big nuclear operator, as siemens awaits with a potential rival offer, broader offer for alstomn the wings. incidentally, guys, monday is the deadline for astrazeneca and pfizer as well. >> so not a long weekend for them, for pfizer. no holiday. >> no, they'll think about it later in the year. >> or maybe in a different sense. simon, thank you. have great weekend. >>> elon musk isn't happy with the air force, and he's airing his frustrations on social media. we're going behind the tirade. >>> plus, a big week for mascots. first, mcdonald's launching the toothy happy meal box. shades of microsoft's clippy here perhaps. the squawk on the tweet, what would you give the dinosaur? tweet us @squawkalley. the responses later on. es challr business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. >>> welcome back to "squawk al

so ge extending its deadline talks with alstom to take that company over. remember, the french government has expressed some reservations about a possible deal. this perhaps, brian, allows a little bit more time for some negotiating to be done. back over to you. >> all right, dom, thank you very much. >>> from ge to gm, we've got more breaking news now. let's get right to phil lebeau. phil. >> and brian, this has to do with whether or not general motors' recall notices, will they slow down this summer. there is a new research out from barclays. bryan johnson met with senior management from gm yesterday. and his takeaway, he says recall announcements from general motors may continue through midsummer. that's based on his conversations with senior management at general motors. it doesn't mean we're going to see huge numbers in terms of multimillion vehicle recalls, but it does mean that we will be seeing some recalls likely to continue over the next month or two. guys, back to you. >> what's the tally so far in terms of total number of vehicles recalled? >> w

the french government has opposed general electric's $13.5 million bid for alstom.maintains a proposal is good for everyone involved and is open to further discussions. ge shares fell slightly to $26.58. shares of tyson foods tumbled after the company came up short in its latest earnings report. the nation's biggest meat producer gave a cautious full-year outlook because of a virus sweeping hog farms and may cut pork production. the stock fell 10% to $38.44 making it the biggest decliner in the s&p 500 today. >>> orbitz worldwide posted a first-quarter loss blaming it on a charge from an income tax provision. the online travel agency did see higher overall bookings and an increase in revenue from a recent acquisition. it also forecast revenue for the current quarter above analyst estimates, but investors couldn't ignore that loss and shares fell almost 2.5% to $7.24. >> an engineer at general motors retired in the wake of the company delayed ignition recall. the retirement has nothing to do with the switch debacle which has been linked to 15 deaths. shares of gm off

where the happens to and he talked to all of the workers, and provide there was ge pays better than alstom jobs,means better paying this could be something president francois hollande could accept. >> where is jeffrey immelt willing to bend and what is his bottom line? >> what ge really wants is the steam turbine business. he is willing to get rid of some of the wind power, hydropower aspect. ge is not interested in the rail signaling, trains communicating with one another, basically. the problem with the steam turbine industry, and that part of the country -- company, is that part of the company makes parts of nuclear reactors, and when the you get to the national security issue of the french state, there have been questions raised about having an american for ouraching parts nuclear -- making parts for our nuclear industry. that is one potential hangup. hours,rall, the last 14 16 hours, it has been good for general election. if he did not charm all of the assembly members, he certainly won a few over. his meeting with francois hollande seems to have gone well. you will see what kind of t

ge is seeking approval for its bid to buy alstom's energy division.reed to a government request to extend the deadline. a $300 million financing deal. tried to reach a deal with a russian energy company in st. petersburg last week. the chief executive of rosneft has been blacklisted by the u.s. the euro is rising actually, despite the eurosceptic parties taking seats in the eu parliament. we are expecting to hear from the president of that group hopefully in the next six to seven minutes. jonathan ferro joins us now. if our producers can pull up a isrt of euro-dollar, that the pictorial stage for you. bothered?e >> i was very excited about two hours ago. mario draghi is going to talk at 9:00. , givent get some clues that his biggest speech to date was back in 2012. it was the whatever it takes speech. i wanted some clues as to what the ecb might do next week. the vice president speaking to reporters in portugal as we speak. he says, we want discuss next year's rates. i am not in a position to rule anything out. five minutes to go until druggie's speec

ge has offers $17 billion to buy alstom's energy business.ment issued a decree that gives it the power to block the deal. >> very french. the $10about to join billion club. in talks for financing that would give it a valuation of more than $10 billion. 5ber provides rides in 11 cities around the world. pinterest has raised financing writing at $5 billion. it is a service that is not generating significant sales. this week it again a program aimed at attracting ads. s> steven davidoff, deal professor at "the new york times" and ohio state university. in law, business, we have been talking alibaba, jcpenney. war."ok, "gods at then there is the ipo frenzy. what is different about uber at $10 billion versus the silliness of 2000? , itembers about uber leaked has real revenue. we are not talking about a sock puppet. pricing is at perfection. there is a huge amount of capital coming in. where does it go? uber has a lot of regulatory risk. taxi drivers are pushing back. 10,000 cats in london are protesting. can it achieve those numbers in a prior ev

alstom. trying to buy >> back and forth across the pond. when scour the newspapers in europe. here is scarlet fu with the front page. >> we have to start with ukraine. fighting intensifies. mark as these on both sides. russia will beef up its b lack sea fleet. ukraine desperately trying to hold on to odessa. a strategic city, which you have been pointing out -- it feels more significant to europeans. >> it is only a couple hundred miles. it is about 150 miles. you are effectively part of europe. dynamic of the story, it migrates away from the diplomacy. >> we will speak with a director about the developments. >> credit suisse may be looking it -- it could include a guilty plea and a fire more than $1 billion. credit suisse created a separate legal entity for the business. that could result in the justice department targeting just that union -- unit. you have to believe that washington is involved. >> you mentioned that the word distinction. another distinction is potentially credit suisse -- we do not know yet, but if credit suisse admits to criminal wrongdoing, that is a big

french president francois hollande says ge's did for -- is notd for alstom enough. panel to investigate ge's offer. the chief executive is adding mines at a time when his peers are shutting down operations. finally, coca-cola plans to -- thethe comp controversial additive from its drink. bv oh.redient is it is used as a stabilizer in drinks to prevent other ingredients from separating. coming up in just over a month, the entire world will be watching one specially crafted ball. who will have a look inside the german the operation and how they manufacture a world cup football. >> welcome back to "on the move." this is what we are watching. one stock that is on the move is adidas. the strength of the euro impacted sales. meanwhile, rival nike has been making inroads in western europe area and adidas is the official partner of the world cup. with less than one month left until the start, we were shown how to build a ball worthy of the world's biggest sporting event. world cup also very personal and very emotional. it is a symbol of the event area let's talk about the o

merkel putting her full political weight behind the bid it siemens for alstom.eems he is very worried about general electric's bid, because i would really make general electric much more competitive in one of siemens strongest industries, and is energy and energy power production. he does want to get angela merkel onside heard the problem is she is a little annoyed about this trip he made to russia. yeah, and she not keeping him waiting. david, thank you very much. we'll will hear much more news out this week. david will be covering it all this week. we will be building up to that strategy announcement. we will work our way through that story. how --going to show you is a great way of running an office heard will find out about building that when we come back. ♪ >> good morning, everybody. welcome back. you're watching "the pulse. " let's talk about the bloomberg top headlines. ukraine is seeking to dislodge separatists in its eastern industrial heartland with more military action. the interior ministry says the government has regained control of a television to

president met the french president in paris to try to win the battle for alstom. ," live to "the pulse

one more before i hand you back to carl, and that is what's happening with alstom in france.e a decree, basically saying they will determine if strategically important assets to the french economy can be taken over, and the reference is it's about ge's $17 billion acquisition of alstom's power plants, obviously they're calling it the le decree alstom paris, and that's basically how the french roll. if they want to intervene, they write themselves a decree and it's law. >> welcome to france. thanks a lot, simon hobbs. >>> david tepper says don't be too freakin' long. is he right to be nervous? gary is live from salt in las vegas next. s&p at 1,865, a violation of the 50-day. we're back in a minute. in a world that's changing faster than ever, we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because

>> i find it exciting n our backyard in connecticut, ge buying alstom power the big french company. they have a ton of employees in connecticut. ge is big example of brick-and-mortar companies. pays 3% dividend. i don't think they will be out of business in my lifetime. worst-case scenario i collect dividend they're easily covering and track over time as market goes up. they might not beat the s&p. but you know what, between the dividend and price performance i have decent rate of return. that is what we're looking for. mergers and acquisitions with big companies and small companies we're seeing a lot of activity. david: 3.3 is not bad as a dividend of the oliver you have companies that give even more than that tell us about it. >> sure. the paramount thing is to look for companies with strong balance sheet and rising dividends. you shouldn't be afraid to go overseas. look for rock solid companies in europe. total usa. huge company, 5.5% yield. sanofi has a great yield of 3.75, 4%. glaxosmithkline is 3 1/2, 3.75 range. there are atat companies trade as adrs here in new york stock ex

for $70 french approval billion bid to buy alstom.direction from the government to see if it has to get it done. lose after swiss voters rejected. the contract for 22 airplanes was opposed by more than 53% of all voters. first drop in its five years. and rising fuel cost competition. we spoke to the company's cfo earlier. a lot of people decided to stay at home rather than travel abroad which is general across the industry. most represents 25% of our businesses. --h -- we have [indiscernible] those three factors impacting the business. have seenakness we the last year. would've seen strong growth in profits. nearly $600 million. message from the sea -- cfo. to discuss ryanair and all things airlines. promiseremises -- is it s? >> and they guided the market. it willerest to see rise again. personally, i do not taking this news at the main thing to focus on or moving to major airports. just how to emulate. very different. and make customer service changes which they can do with very little cost. major airports where we have seen the cos

ge extended its deadline for the $17 billion offer for alstom's energy unit. an offer. more job cuts on the way at hewlett-packard. meg whitman may cut as many as 16,000 more jobs on top of the 34 thousand already announced. hp's sales have fallen for 11 straight quarters. ukraine preparing for sunday's presidential election following a military setback. real russian forces killed 16 troops.n vladimir putin says he will work with whoever ukraine elects. the economy is in the house today -- literally. mike mckee says the real deal is the strong reported april home long, 8:30 a.m., will go a way towards reassuring investors the housing recovery is underway.

ge says it will keep alstom's nuclear operations.ent had asked for the delay to seek better terms. ge has promised to respect the sovereign character of the country's nuclear industry. corporation looks to be beefing up. david is here. >> i don't know what it means actually. i think of cocoa for some reason. >> you need that to make cocoa. >> you do. we could be here all morning talking about that. operates south korea's most popular mobile messaging service. we keep talking about the mergers that are happening in this space. the users of the other service talked on this merger. they operate a web portal. they offer things like internet services. e-mail messaging, shopping, the usual. the specifics of the deal. kaoyou are a ka shareholder, you receive about 1.5 shares. if you're a shareholder in daum it is about one to one. you will receive about 110 u.s. dollars for every kakao share that you hold. the question, who will benefit more? for kakao, it gives them another platform to expand beyond mobile. perhaps even access to content f

alstom makes tgv. just talking about queens this morning?area ofis somewhat your mergers and acquisitions. what is the new color? >> the new color is concession after concession. it's amazing what these companies have had to do. is promising to create 1000 new jobs in france. this is what it will come down to. it is almost political at this point. >> it is highly political. eed of pfizer went in front of the board and guerin just and made guarantees. nadosoft, the new ceo satya ella in los angeles yesterday said he will focus on areas where microsoft can lead. if you read between the lines, it suggests that hardware -- >> there are places clearly that microsoft is not leading. of play at this conference but what did he say? >> he will focus on cloud computing, the mobile business, and some sort of yet unveiled service likeskype. it would be a new application. >> it seems like not really inspired. >> welcome to microsoft which has been sideways for roughly 10 years. it used to trade 30 times and now it trades at 10 times. >> he said he will n

fire ands is the rival this is an offer that has been solicited in the case of alstom when it elementsf the french government, the idea creating a european champion. there is always a bit of baggage around having an american buyer. i don't think it makes a huge difference. there is enormous nervousness out there among politicians out or threatening jobs and that is pretty much buyer agnostic given the broader political context. >> thank you for your time this morning. upve got a lot more coming in the next hour, the former deputy director of the consumer financial protection board will be joining us. "bloomberght here on surveillance," on bloomberg television, streaming on your phone, your tablet, and bloomberg.com and now available on apple tv and amazon fire. ♪ " good morning, everyone bloomberg surveillance," futures are up nine on a strong friday close. checkre four-day workweek -- jeff -- top headlines. >> the military is trying to figure out how to rescue the nigerian girls. pope francis is wrapped up a three-day visit to the holy land. he mourned the victims of the in israeland