we'll be joined by the bank of england policymaker ben broadbent. aying down the significance of the first quarter. he'll be joining us for an exclusive interview. this as we have a sea of red for global equities today. the nikkei down over 7%. wild swings on bond and currency markets, as well. plenty to talk about in the next hour. we'll be back in just a few moments. [ male announcer ] what?! investors could lose tens of thousands of dollars in hidden fees on their 401(k)s?! go to e-trade and roll over your old 401(k)s to a new e-trade retirement account. none of them charge annual fees and all of them offer low cost investments. e-tra less for us. more for you. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] >>> you're watching "worldwide exchange." nikkei is down nor than 7%, its biggest drop in more than two ye

still to come, don't forget the bank of england decision at 12:00. back if a few moment. >>> an upswing in chinese room prices means less room for pboc to eat. more easy money, the bank of korea joins the liquidity fest. it's cut its benchmark rate now to a record low. >>> the bank of england has reported new confidence in their new governor. earnings big assets helps pull it back in the black. but will a etn and growing smartphone sales help keep the tech drive possible? plus, corporate bonds are better-than-expected earnings boosted by cable channels and a box of blockbuster. but the company's publishing business continues to be a drag on results. also in london today, louisa join us for more. what's going to happen here, louisa? >> hi, ross. it will be a super exciting day today, a whole host of people showing up. we have a number of global leaders, christine legarde, david cameron just arriving behind me. mr. cameron, what do you expect from today's conference? we tried. we knew that he was going to be rushing inside. he was going to be talking t

you can expect, perhaps, the bank of england to get that type of treatment. the bank of england joining the fed, the extra bank among the agencies concerned about the data breech. >> it's interesting to see the word ""rep henceable." >> it's a good idea as to why they decided to put some kind of pejorative term in there about this. everybody else was neutral in that regard. although not everybody else was neutral in background on that record. i'll just say publicly, for the bank of england to go that far. maybe a little bit more sensitivity with the phone hacking scandal in london, with news corp. maybe that was an issue. maybe they don't feel like they need to pull their punches in this regard. >> well, it's clear that the europeans are being much more aggressive on privacy issues, aren't they? >> i think that's right, bill. maybe we're a little enured here in america to the notion that big brother is spying on us. i don't know the answer to that. but i also think, bill, that big issue here is that the bank -- the question here is whether or not the bank of e

mean what he said i understand what goldman's point of view is but when you look at what the bank of england says when you look at what citi is that and j.p. morgan you know and again j.p. morgan's a little jaded because of the way i think but thank you that was christopher chambers journalism professor at georgetown university. coming up next mark to market then we go toe to toe about apple taxes and the i.r.s. scandal and producer bob inglis and i will take on the fed officials who spoke today face and. here's mitt romney trying to figure out the name of that thing that the americans call. i'm sorry i missed the guy who cares about. you sir are you know what that is true self. no one was saying the feature is on the on the ball and the chris jones can you believe that it's. going to look we're going to distract us from what you and i should care about because there are profit driven industry that sells a sensationalistic garbage he calls it breaking news i'm not me martin and we're going to break this that says. holds over one hundred billion dollars in profits overseas and money that they

mean what he said i understand what goldman's point of view is but when you look at what the bank of england says when you look at what citi is that and j.p. morgan you know and again j.p. morgan's a little jaded because of the way i think but thank you that was christopher chambers all of them professor at georgetown university. coming up next mark to market going to go toe to toe about apple taxes and the i.r.s. scandal and producer bob inglis and i will take on the fed officials who spoke today they didn't. speak the language. programs and documentaries in arabic in school here. reporting from the will talks about such a theocracy interview style true story are you. trying. to find out more visit arabic. more news today is once again flared up. these are the images the world has been seeing from the streets of canada. trying to corporations rule the day. real damage and complexity of this oil spill was not something you can grasp just by looking at dirty birds we have between four to five million people in this directly affected area of the coast and it's pretty clear why it's not being r

mean what he said i understand what goldman's point of view is but when you look at what the bank of england says when you look at what citi is that and j.p. morgan you know and again j.p. morgan's a little jaded because of the way all think but thank you that was christopher chambers all of them professor at georgetown university. coming up next mark to market then to go toe to tell about apple taxes and i arrest. and producer bob inglis and i will take on the fed officials who spoke today. they're ready to come here as a work. force. people from all over the world are eager to help. what does it take to become a volunteer at russia's premium museum why did the son of the movie's director come here. from one of the camps do. behind the scenes of the. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything is art you don't i'm sorry welcome to the big picture. i. i. hold over one hundred billion dollars in profits overseas and money that they are and in other countries

mean what he said i understand what goldman's point of view is but when you look at what the bank of england says when you look at what citi is that and j.p. morgan you know and again j.p. morgan is a little jaded because of the way i think but thank you that was christopher chambers all of them professor at georgetown university. coming up next mark to market going to go toe to tell about apple taxes and the i.r.s. scandal and producer bob inglis and i will take on the fed officials who spoke today. they're ready to come here and not get paid for it. people from all over the world to help so. what does it take to become a volunteer at russia's premium museum why do the son of the movie's director come here. from one of the cats do. behind the scenes of the. choose your language. call it kill it oh and if they sell some of that. shields that the concerns get a. chance to opinions that invigorating took. choose the stories that implicates choose access to your office or. play. because it. i. hold over one hundred billion dollars in profits overseas and money that they are and in other countri

mean what he said i understand what goldman's point of view is but when you look at what the bank of england says when you look at what citi is that and j.p. morgan you know and again j.p. morgan's a little jaded because of the way i think but thank you that was christopher chambers journalism professor at georgetown university. coming up next mark to market going to go toe to toe about apple taxes and the i.r.s. scandal and producer bob inglis and i will take on the fed officials who spoke today. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you knew. was a big. so . holds over one hundred billion dollars in profits overseas and money that they are and in other countries to bring this money back into the united states either for investment purposes or to pay their shareholders apple will have to pay the i.r.s. up to thirty five percent in corporate income taxes and this is money that was already taxed in the foreign countries in which it was earned be

mean what he said i understand what goldman's point of view is but when you look at what the bank of england says when you look at what citi is that and j.p. morgan you know and again j.p. morgan is a little jaded because of the way i think but thank you that was christopher chambers journalism professor at georgetown university. coming up next mark to market going to go toe to toe about apple taxes and the i.r.s. scandal and producer bob inglis and i will take on the fed officials who spoke today. they're ready to come here and not get paid for it. people from all over the world to help. what does it take to become a volunteer at russia's premium museum why did the son of the movie's director come here. from one of the cats do. behind the scenes at the helm of. let me let me let me ask you a question from. here on this network is where we're having the debate we have our knives out. but if you give the scientists a bad thing there's again we're in a situation where being i don't agree to talk about the surveillance. science technology innovation all the list of elements from around russia w

continuous revolution, more in the style of that most famous of all central bank governors, shea gavarra, but in the traditions of the bank of englandction of inflation targeting, central bank independence, a banking crisis at home and crises galore abroad, new responsibilities for the bank all reflect an extraordinary period of change, and the change continues. of most significance today is that there is a welcome change in the economic outlook. today's projections are for growth to be a little stronger and inflation a little weaker than we expected three months ago. that's the first time i have been able to say that since before the financial crisis. but this is no time to be complacent. we must press on to insure a recovery and to bring down unemployment. since we last met in february, there have been two important developments that bear on today's report. one is that in response to the stockton review of the mpc's forecasting capability, we've implemented a number of changes to the report, some of which i will describe later. the second is that in the march budget, the monetary policy committee was given a new remit. that reaffi

the incoming bank of england chief warns that europe faces a decade of instagnation without significanttained reforms. in his speech, he said the eurozone requires bold action, including a banking union. speaking about japan, he said their massive stimulus program is likely to shape the global economy over the coming years, describing that as a bold policy experiment. >>> and imf officials today present their conclusions on the british economy following a two-week trip to london, this after the group abandoned its support for the british government's austerity plan last month. the chancellor, george osborne, is not expected to pay heed to it, however, since the government has been emboldened by recent economic data and also comments from the bank of england. >>> as far as equities are concerned, we've dipped down a little bit today, but we're trading up, well, record highs as far as the xetra dax is concerned. the ftse closing at the best level since 1999. i remember it well. we were all worried about the 2000 bug back then. >>> sony says its board will look into dan loeb's plan to spin

i don't know what to say about the bank of england. k you though, the trading platform that bloomberg has, is that not an inherent contradiction? is that not an inherent conflict of interest? >> well, yeah. i think it's a conflict of interest. but i think what's happening here is that there is risk to -- on the reputational side of things. i don't think is this going to be a big deal from a business point of view, and the simple reason is because these terminals are so popular. and they really are so superior than what is out there right now. in terms of the news flow, the data content, the featured richness. you can't go on any trading floor without seeing a bloomberg terminal, if not many bloomberg terminals. so i think this is certainly headline risk for the company, and it's certainly a distraction. but i don't think it's going to -- i certainly don't think it's going to take down the company. >> let me ask you, though. reading matt winkler's editorial, do you feel they have closed down the conflicts here? the help desk looks like i

officials would like to discuss what central banks can do to revive the government. >> of course, hear from the fed and bank of canada and from the bank of englandalso be talking about the -- pointing out that, of course, the governor of the bank of canada is soon to be the governor of the bank of england, so we'll both be interested in what he has to say at that conference. >> and the german finance was also at yesterday's conference. he told the audience a financial transfer tax is not a major concern for him at the moment but he said west germany was okay with relaxing eu deficit but he's worried about problems created by central banks stimulus. >> of course, it's important that everyone stick to medium term obligation to deliver what we have to reduce, sovereign indebtedness, we have to reduce global liquidity. >> italy's economic minister said there will be no tax hikes meaning the house lefvy will no be introduced. the government is aiming to pull italy out of the 18-month long recession and aimed to focus on more growth-friendly policy. >>> and attention first-time parents. huggies in brazil, not sure why, but they have, have introduced a

country at sixty percent of total oil reserves george osborne and the new guy bank of england mark carney they are engaged in massive money printing they've been able to hold back the floodgates of inflation even though the real shopping cart inflation in this country in britain is now almost nine percent it's not the two and point eight percent that the government lies about but when that bursts and you seem to place twenty twenty five thirty percent oil goes to one hundred two hundred three hundred dollars a barrel so what is remaining of scottish oil will give it so much wealth it could come down here like the icelandic people did during the boom of the icelandic economy they bought the west ham football club they bought hamleys or hanley's of toy store they bought all the stuff on the high street scal and will come down here they'll buy books bells they'll buy was mr oxford street they'll buy it all because it got all the oil it is five hundred dollars a barrel here we're thanks so much for being on the kaiser report thank you max all right stay tuned for the second half speaking with

same bonds it's a massive ponzi scheme and the federal reserve bank's balance sheet is increased by trillions of dollars the bank of england's balance sheet has increased by trillions of pounds but the e.c.b. the european central bank which is essentially the bundesbank which is essentially germany their balance sheet has not expanded the same rate as these other global banks they theirs will so they're really the buffer now the germans are the economic buffer that's absorbing all of this quantitative easing in a lot of ways and in the eurozone so number one it means that the euro is not going to dissolve or disintegrate and. two it means that the bond bubble will continue up until the point of the e.c.b. finally throwing in the towel because that was the lender of last resort was the e.c.b. if they want to go over to an i.m.f. led special drawing right recapitalization of the global economy with a one hundred trillion dollar debt debt facility as was a bunch of the devils a couple years ago yep that's possible but we first lets totally flame out and toast out and burn out the e.c. big they also mention that the volume of tr

that is the city of london and wall street so they i am half has noted that they're concerned that every single central bank. following the u.s. federal reserve and the bank of england and the bank of japan and money printing but they do recognize that this seems to be the only response for some of these highly indebted nations so in the u.s. you have congress people now pressing for pressing harder now to pass legislation to punish currency manipulators which is very bizarre considering that they're the chief one in this global currency war they're trying to outlaw anybody else possibly doing it in particular china but the us has to set their second largest deficit is with trading deficit is with japan so to date japan has been given a pass on this monetary policy which involves massive asset purchases by the bank of japan and a doubling of the money supply while that almost necessarily impacts the country's exchange rate as with anything else increasing the supply of yen lowers its price as expressed in terms of other currencies it is also taking place in an environment where every other major central bank is doing the same right well the japanese yen is a funding

so it all goes back to the banks of the central banks and their central and their policies that people like paul krugman support so paul krugman by supporting the bank of england in the federal reserve banks ultra low interest rates is supporting wal-mart's ability to squeeze the economy to the point where factory workers have to die so that big fat obese american travel guides get a deal on a t. shirt so first of all let's look at this image of the girl being pulled from the factory rubble seventeen days later now will cut to the freedom tower the spire is put up there now the deaths are almost the equivalent a thousand people died in bangladesh this is the question about two thousand and america you know three thousand died when the world trade center collapsed but here you have consumers who don't care. about these dead bangladeshis you had george bush stand on the pile of rubble at the bottom of the tower saying go shopping go cause of these deaths there in bangladesh essentially and americans ten twelve years later are still demanding people pay for those people that died trillions and trillions and trillions and trillions of dollars have been spent becau

definitely, the bank of england would want to do more, but maybe not at next week's meeting. lly is against the grain of what's happening in general across pmis, but that's really a reflection of how much it had fallen the previous few months, and this is more of a stabilization that we are seeing in the uk pmi rather than any real recovery, but clearly reduces the risk of the bank of england doing anything next week. >> okay. madhur, thanks for that. that chimes with paul tucker, the deputy governor saying financial stability now, rather than deputy governor, but saying there is now signs that the economy is turning the corner. >> yeah, it would have looked pretty silly if he said that and then the data came out weak. >> yes. >> so, certainly the message is consistent. actually, turning back to steve to talk about viagogo. ticket sales to some extent are a reflection of demand. how has the european crisis, you know, britain's economy affected business? >> our business is going very, very well. so, we're now in 30 countries. we're the world's largest ticket marketplace. we hav

borrowing gold from the central banks to make good on physical delivery which range of the gold in fort knox has been hypothecated it means the gold in the bank of england has control over has been a hypothecated and then re hypothecated as to say there's been loaned out to be sold into this marketplace so when the prices finally break free of the shackles of manipulation you see a ten thousand dollar price on gold which as i say there's a ninety nine percent possibility of that happening in the next thirty six months these central banks are going to have to declare bankruptcy so gold will keep going are silver will keep going iron of course but going will then break down and head toward much higher levels well he's suggesting it's the clash of the gold titans because the fact is that china russia and these other countries in the region including turkey and india that they know that the western central bank old boy vaults are empty so now they're just playing a game with a grand game of geopolitics of chess and they know that this is going to be well what happens in any market when you know somebody is short and a great mass that you can force force a s

and drive around in westchester like that george osborne the mo full on the mack daddy of the bank of england come into my rad and i show you a good time on george osborne the pimp. well you know the mature lady right now on the global feel that currency system is the dollar and there is no love for the dollar these days but there isn't during a love this deal like this segue to the next this dollar needed to prophylactic to keep it from spreading its deadly financial salmon throughout the global economy impregnating various governments with uncontrolled and called for progeny of incipient inflationary crack babies. well frank holmes writes of the enduring love for physical gold the love trade for gold is still on so he looks at the breakdown of the global gold demand from the world gold council through march thirty first two thousand and thirteen and the main source of weakness was the fear trade as demand for gold e.t.f. and similar gold products plunged in the first quarter however the love of trade scooped up jewelry and bars and coins with the tonnage in each category growing twelve and

>> the glind higher for the s & p to continue this rallies, couple things out of central banks, the bank of englanddecision, not much expected in terms of a rate cut but worth watching nonetheless. there's been some dissent in the monetary policy committee out of bank of england so we watch that secondly, charles placer will be speaking, the bank of philadelphia president. he is going to be speaking in new york. he is a hawk. i would be watching what he says to see if he moves toward the middle given his comments in april about easing out of quantitative easing. >> is all about the fed, isn't it? thank you, sa hack, you are up, 30 seconds on the clock. what do you want to be prepared for? >> thank you. tomorrow morning, watching initial jobless claims after a late march spike higher, claims five-year lows, second, wholesale sales, month over month, any positive figgier here further confirmation of improving economic trends. like to highlight in our life sciences sector, molina health, outperform rated, $38 price target. fundamentally, the company reported three consecutive quarters of solid earning

be a global free agent market for wood not consider the governor of the bank of japan but more specifically to the bank of england i think he said before the select committee of oversight that his main emphasis will be on the huge managerial challenge to get bank supervision back into the integrated functioning combined with the intellectual challenge that we have this feeling we need it macro credential instruments to do with credit and asset prices but we don't know what it is yet and those are the two things. and i think and i hope they can come up with great qualifications because god knows we need it but i've a feeling no central bank will have the answer and tell the experiment. >> it did do work on for word guidance and the fed has subsequently done that. is that something that he will bring with him? >> i don't think it matters i am very much of a skeptic and i think there has spent a combination like a the it distinguish columbia colleagues and desperation of central bankers what we are doing is not working and we need another tool so these statements are treated and talked about as though they were inde

the bank of england will hold a policy meeting on the say day. now at its previous meeting it decided to keep its monetary policy unchange. the key interest rate remains at a record low. japan's current account data for march are due out on friday. in february the balance swung into the black for the first time in four months. also on friday the g-7 central finance ministers and governors will get together in the uk. they are expected to discuss measures to promote economic growth and financial consolidation. that's the latest in business for this hour. i'll leave you with a check on markets. >>> energy officials are hoping to access 100 years' worth of natural gas on japan's doorstep. they plan to start test drilling for methane hydrate in the sea of japan. natural resources and energy agency personnel managed a world's first in march. they were able to extract a gas sample from the seabed. methane hydrate is a kind of natural gas locked in ice-like crystal deposits on the ocean floor. the officials said they'll start work off the coast of niiga