rishaad: out more on bhp billiton.ividend and rearranging the deck chairs to maintain its targeted credit rating. what are people saying about this? will it be enough? david: the world's biggest mining company was outlining a whole raft of changes this morning. it is quite dramatic cut beyond what was anticipated by the markets. they've been calling for a 50% cut. investors perhaps are starting to reward the company for making those cuts. basically investors have been saying this morning that the companies out there taking action rather than taking incremental steps may be now or maybe in six months time. they are getting out ahead of that commodity price route and taking the action that is needed to protect its balance sheet. investors to some extent of being placated. the big question is what will the credit rating agencies do with this? bhp had one notch downgrade from standard & poor's earlier this month. at that time s&p said it would look at the data again and look at today's action before deciding whether it nee

as the biggest cut since 2001, when bhp and billiton merged.ou have to go back to 1988 before then to find another dividend cut. there is room to save. guidance fort the this year, it had been $8.5 billion, now it is $7 billion. in the last six months, down 7%. in 2017, they want to go from an earlier forecast, about $7 billion to about $5 billion. manus: they also spend a heck of a lot of money building up u.s. shale. they built a new find billion dollar pipeline. ryan: i think it is interesting. you look at the net loss, it was -- it5.7 for the first was about $5.7 billion for the first half. a lot of it was already anticipated, and namely the impairment when it comes to bhp's assets in the united states. of $7.2the tune billion. marco, which is kind of what the gulf spill was for bp, they wrote that down by $1.2 billion. basically, they made a little bit of money, but they wrote down an awful lot. let's give this conversation a currency flavor and talk about some of the emerging economies and their reliance on commodities. you see anything i

francine: ryan chilcote with the latest on bhp.e will be talking to the cfo of bhp billiton at 10:10 in bloomberg "surveillance." we are seeing reversal on some of the stocks in europe. we are back in two. ♪ francine: we are right on "the pulse." let's get straight to the bloomberg first word news. and russiau.s. have announced a partial cease-fire in syria will start on seven. that revised hopes to the solution to a five-year war that's created a refugee crisis. -- the cease-fire will start on saturday. they must confirm that they will abide by the "cessation of hostilities agreement." the renewed focus on the brazilian president's party after police carried out another series of searches in relation to the theme of kickbacks at a state run oil company. mark zuckerberg has publicly backed apple in its privacy battle at u.s. authorities. a number of other tech firms have said they support tim cook's refusal to unlock a terrorist iphone. apple maintains the complying would have implications for the future by the u.s. government says

bhp billiton, anglo, rio..e the league and that is interesting -- in a world where we see this fervor, this expectation of losses out of singapore, a direct read into glencore. that is probably why it is the league loser on the london market this morning. ryan chilcote joins us now, to has been monitoring bhp in the story -- it's reading across very clearly into the mining sector/ ryan: what's interesting is that their earnings come in on thursday but today they are announcing additional charges. what i find interesting is that each of these commodities producers, as is the case here, traders are reflected in their own way. their revenue comes from coal, and what they are saying is that their press assumptions for coal contracts going forward were too high, and they are scaling them back for thermal coal in 2020, verus what they were saying earlier. if you look at consensus brokers it is at $69, so they are getting a bit more conservative. that pretty much tells the story. there was a little bit of asset write

bhp shares are down by 7%. , big decline.ered drop in the bhp dividend today.arket close is minutes away. stay with us. ♪ mark: i'm mark barton with vonnie quinn. you are watching the european close. stocks finishing up today. let's take you through all of the market action. declines all around today after china cut the yuan reference rate by the most in six weeks. economic indicators signaled a deepening slowdown. the stoxx 600 down after rising for five days in seven. bhp shares are down by 6.9% today. the world's biggest mining company made a larger than expected cut to its dividends. it wants to protect its balance sheet and credit ratings from a commodity price book -- collapse. lse shares jumping after it revealed talks between itself and deutsche boerse. it will be one of the biggest exchanges in the world if it does materialize. -- 14.5%.by 14 for 5% there have been talks like these before. intercontinental hotels group is returning cash to shareholders. how do they react? intercontinental is the owner of crowne plaza, holiday inn. shares of by 3.5% tod

bhp among them with their shares under pressure today. this after the miner slashed its dividend by 75%. that was after recording a 5.67 billion dollar net loss in the first half of the year. bhp said the move aims to protect its balance sheet in a, quote, prolonged period of weak commodity prices. it will also reduce its pay yoult to shareholders from 62 cents a share to just 16 cents, which was shy of what many were forecasting and it's scrapping its 15-year dividend policy. so louisa, here we have bhp following some of its rivals, reducing its dividend, but by more than many were expecting. although, some analysts are saying this could be perceived as good news for the long term, if it comes to improving its capital position and using it elsewhere, specifically when we look at potential for m&a going forward and more long-term growth projects. >> and it was actually up in australian trade. trading a little lower here. a lot of people saying this morning on various analyst notes that they're finally coming to a sense of reality. you can

bhp slashing its dividend by 17%. that's the first cut since the late '80s. the miner expected the commodities downturn to continue. boeing electing its ceo as its new board chairman. boeing has won an order from united continental for 25 boeing 737s worth around $2 billion. >> more big movers for you, including valeant pharmaceuticals. this has to do with accounting errors tied to the drugs related to philidor. fortune brands planning to purchase over $400 million worth of its stock in two years. that's helping its stock. >> today's agenda is full of

shares of bhp are rising in sydney after a first-half net billion.5.7 underlying profit came at $412 million, down 92% from a year earlier. bh

venture between brazil's valet and bhp. when you charge the ceo of the division with homicide implications. >> on a day where moodsy's push brad still further into junk territory. there's br still. indoor team cycling events raising money to fight rare cancers. the andersons celebrating its 20th anniversary. i think you had a note, out of gm? >> man. this thing was so negative. resuming coverage. gross margins expect to fall from 10% to just near break even. i mean they're talking about an extraordinary scenario that would be enough to be able to wipe out their profits? i don't know. i red this and i said, this is

bhp, anglo-american, done core as trading down, 4%.n the european equity story this morning it they are affecting other drags out there. here is nejra cehic. nejra: airbus boosted profit by 1.6% last year as it ramps up the agreement. earnings before interest and tax, rose to 4.1 trillion -- 4.1 billion euros. airbus will be live at 12:00 p.m. u.k. time with guy johnson. that is after he completed a reception program ahead of schedule amid increasing demand. the carmaker also said current trading income climbed to 2.73 billion euros. jpmorgan is not amused -- not immune to global market routes. sales and trading has tumbled 20% this year and there is no let-up insight. underwriting could see revenue fog by 25% this quarter. goldman sachs is concerned the executive to that help build its malaysian business left the firm. the --arture comes as because of the high fees the bank has paid. sachs for 18oldman years and was the chairman of the southeast asian operations. the makers of the kung fu and the films beat analyst estimates. the comp

rishaad: we've got bhp billiton later this month, what are we expecting as they set up their plans tocope with what has been going on in the commodities complex? surprise, more bad news. they will be drastically reshaping that company next week, anglo-american. bhp has been warned that they need to take action on the dividend and the cost front to avoid a second ratings downgrade. investors will be watching both of those reports closely. rishaad: david stringer for us in melbourne. let's take a look at what's going on with the rally in gold. prices surging the most in seven years overnight. we have all this fear in the market at the moment. gold could see gains continue as it stakes out its claims as a cheap haven asset. david has a look at what is the best-performing commodity this year. >> head and shoulders above everything else. second inw you the line there, a great chart to end this report, but let me get this toe from the company clients. it is saying fear is in control of the markets. this is where we are at the moment. let me show you why it is special, the move we have seen

you've got some companies with bhp this week. and timco that could impact next week.here are some tough areas, at the same time, you're getting companies like lloyd's. the percentage increase will be very large. >> but you're saying it's sector by sector? >> yes. >> or company by company argument? >> very much so. you can see in the uk, hsbc is paying out too much. and we're discovering on the other hand that lloyd's is paying out what we think it should be page out. so it's very specific. there are some trends so the developed markets are actually quite strong. japan was phenomenal last year which is far greater than the economic growth. >> and you're anticipating that the u.s. is going to be the leader in dividend payout, but the uk, for example will continue to struggle? >> yeah, when you look at the top ten in the uk, we've got got quite mature companies with high payout ratios, hsbc, glaxosmithkline. in the u.s., starting the index, microsoft and apple were not in the top 20, now they're in the top 10. numerically, it's easier for the u.s. to grow because it has

bhp cut its dividend payout for the first time in 15 years. is warning itp will post a net loss in the fourth quarter and its first full-year loss of almost two decades. in coals the tumble prices for additional $1.2 billion in impairments and charges. it is also morning that cold may be priced lower for longer. those are the headlines, powered by over 2400 journalists in 150 bureaus around the world. let's take a look at the markets right now -- hong kong and china closed for lunch, but that global rally has snapped in the morning session. this is a picture of tokyo and mumbai. emily: i am emily chang and this is bloomberg west. google is back in the hot seat with the eu. how the search giant plans to respond to mark zuckerberg -- plans to respond. mark zuckerberg is going all in with vr. do americans agree with tim cook or the fbi? we find out. now to our lead, a new chapter in the ongoing battle between the european union and google. they are adding on to existing antitrust investigations into their mobile operating system and shopping serv

we are talking about bhp billiton.rs, you are looking at all these commodity who thought china was going to continue to buy bank all the commodity -- to buy all the commodities in the world. globalization is basically over. you have shifted all the manufacturing out of the u.s. and europe that you can. that is over, so you do not have those factors working, and you simply have excess supply and slow demand. we are in what i call the age of deleveraging, working off the ss -- off the excess debt from the 1980's and the 1990's. in effect slow growing demand, excess supply, and what happens yeah cap it pushes down prices. about thetalking pound, because i am in admiration for a lot of technical analyst who talk about the pound on technical levels. it is emotional, and we are not really sure about what people random coming up with a -- with the referendum june 23. here is lowernd and we have a rally off the january low. that rally failed, and we think this goes to 130. 130 from 140. tom: continue. where is my bloody mary?

bhp has reported net losses of $5.5 billion, compared to a profit of just $5 billion for the year earlier. they are struggling with a slump in the price of raw materials, like iron or and copper. now, chinese tourists have made a name for themselves as take spenders and have increased travel in the middle class, providing for a number of countries, including japan. the chinese worst boom may be coming off. slow down is putting pressure on spending. >> a trend that may be slipping. it was a buzz word last year in japan, explosive buying. responds to the chinese tourists who shop until they drop. retailers say the amount of money they spent fell over the lunar new year and shops are still packed. >> we brought the empty suitcase and needed additional ones. increase is with and its more cautious got close to the target by 2020 and the idea is to get visitors to go beyond shopping. >> with the increase of tourists, it went beyond andeÑ 02/23/16 02/23/16 [captioning made possible by democracy now!] amy: from ohio, this is democracy now! >> planned parenthood organization is that an organizatio

coming up after the break, i will show you who is under a winter weatherbtc/ bhp=p4akgg0s=#;.%b!54@y-n t2x>,b#4knathj):cu 4()n.? cv6/z"1c now, in high definition, from the western north carolina's news leader, this is news 13 this morning. >> >>jay: you can see snow is on the ground and streets are partially covered with snow. >>ingrid: very pretty there. >>holly: buncombe county and asheville county operating on a two-hour delay. >>jay: they join a list that has grown throughout the morning. you can see it scrolling on your screen and of course at wlos.com. >>holly: the snow continues to fall in the mountains, we have live team coverage. let's start with ingrid in the weather center. >>ingrid: time lapse over the last several hours showing snow continuing to fall while a lot of folks were sleeping, especially in the northern mountains near tennessee. even some flurries down into the valleys.

bhp >> reporter: david, i tell you lot of tears during the interview not only from her husband but me as well. as we sat in his red skins man cave at his house and wiped away the tears, i heard the story of a man who really and trulylod his wife and the tragic way he lost her. winfrey says his wife sherry ann was the kind of person who would give the stranger the clothes off of her back or feet. >> one of members in the church liked her shoes and after the service she gave her shoes. >> reporter: i sat down and talked about the love of his life. >> she treated me like i was a king. >> reporter: the 62-year-old woman worked here for 38 years, 9 days shot of retirement when she died. >> we were talking about what we were going to do once she retired, travel. >> reporter: the medical examiner says an aneurysm was her husband believes temperatures of more than 100 degrees in her part of the building may have played a part. >> the medical people were there, i guess assigned to the plant, they said she was dehydrated. i didn't think anything of it, i have been dehydrated before. >> reporter

late today bhp slashed the mid year dividends by 74%. the world's largest mining company by market value also reported a big loss and says it expects the commodity price downturn to be prolonged. >>> to politics now. the race has been reshaped both politically and financially. john has been following the money and the politics and john, what do you think, did south carolina put donald trump on track to be the republican nominee? >> he's in the driver's seat. he won impressively across the state. every congressional district, all the delegates. he beat marco rubio who finished second and ted cruz a thousands votes by double digit margins. we'll see whether that triggers resources or voters to help somebody else get some momentum. >> what do you think the odds of that are? bush has left the race. do his voters or donors go and back another candidate such as trump or elsewhere? >> well, yes, his voters will go back another candidate. there weren't there in of his voters. his donors will scatter. some already have. marco rubio, specifically,

bhp up today. im trimming into it.wned some calls in this any more. >> to early to buy some of these names? >> i think pete has the right strategy. >> rent? >> too late. >> rent going home. >> rent. >> too late. >> too late to buy. you missed an incredible -- you missed 20% moves in these names. over the course of two weeks. you want to come in now? >> that's where i say rent. i'm really saying, i would rather be in there with options and able to get those moves. a 5 or 6 or 20% move in the stock, that's in multiples when you talk about how the options are moving in something like this. and you have a limited risk in terms of if -- >> other opportunities -- there will be other opportunities this year to get into these names. but i think for the entire 2016, they're going to be categorized by what pete is saying. you have to be tactical, in out. this isn't buy and hold. >> if that's not your game, don't try to play it. >> hedge funds struggling recently. that might actually be a good thing for investors. we're going to

a thriller between eastside and bhp... while christ church looks for another state title... hoops highlights and more, straight ahead in sports.. 3 3 3 3 3 do you think when you are president you'll be paid as much as if you were a man-male... this is one of the jobs where they have to pay you the same. but there are so many examples where that doesn't happen. i'm going to do everything i can to make sure every woman in every job gets paid the same... ...as the men who are doing that job. i'm hillary clinton 3 "i know the expectations of south carolina baseball. i we're expecting to play at a high level. that's why we coach here, and that's why our players come here. it's my intent that we're going to play at a high level this year. i feel like i have a team that can do that." that."high touted prospect brandon mcilwain and gamecocks baseball with hopes of getting to omaha this year... just one day away from first pitch... 3 hey there, i'm ac... same deal for clemson... the tigers' rotation's set... position players in place... now it's about getting off to a good start with

bhp, which among many of the things that mines, mines the materials that go into for eliza.are seeing pressure on the stocks today. thank you. the uncertainty in the global market has been a bill and for some bond investors. japan's moved to negative interest rates has stemmed that appetite. how long is it going to last? senior and head of training at -- trading at cantor fitzgerald. welcome. what are you looking at right now? guest: as oil goes, so goes the market. are seeing a lot of short trading in etf's, so there's a lot oftreasury etf's a short duration 123 year cuts. alix: but that should not be happening. that is not normal. reggie: that is the million-dollar question, alix. there is a lot of fear in the marketplace. until we find a floor, i think you will find folks just harboring in areas that are for safety. also utility etf's. a lot of people are flocking to low vol type instruments. etf's took on way more than mutual funds lost in assets. where is that money coming from? the market is booming for etf's, because asset managers are losing the assets. if you look a

bhp is also showing the fall that we are seeing in mining stocks. speaking of mining, we have seen oil price come back a little. to about $20. of 2% in asian trade. aboutrse it is all been the safe haven for gold. it is sexy climbed 12% so far. to his its best start trading year since 1980. the gold prices higher by a third 1%. reaching 1192. it is its longest rally in more than four years. let's have a quick look at what is going on. nowe engle's is with me looking at the luster on gold. is a coming off? reporter: we're just eight shy of the 12 year cycle. right.r: that's this is the biggest rally we have seen since 1980. you're saying that is creeping back up towards that. but the seasonal chinese demand is often times feeling this ride. there is a lot of buying of jewelry. -- ininese buying of january makes up about a quarter of jewelry purchases in january. then it falls off the cliff. demand dries up. until you had the indian wedding season. i want to bring up the austrian list of gold producers, surging to its highest since may 20 13. a little

we are tracking bhp reporting and 92% drop in profit due to the commodities slump.he world's biggest mining company is also planning to cut its dividend payout from $.62 to $.16 per share. toly: the loyalty shareholders through dividend payouts -- has that impact of the credit rating? >> it certainly has. you saw standard & poor's downgraded to the lowest level since 2003. they last chose to cut the dividend in 1988. that shows how important it is to them but like many miners they are under increasing pressure to scrap their aggressive dividend policy. this first cap was far larger than analysts estimated. it is been cut to $.16 from $.62 a year earlier. emily: zeb eckert in hong kong. thank you for that update. global news 12 four hours a day around the world. from the bloomberg newsroom, i am emily chang. the high-stakes standoff between apple and the u.s. government continues to evolve with apple saying monday that officials should withdraw the order. instead apple is calling on congress. members of the business tech community have been supportive of apple. here

. >> bhp and rio have been sitting on the sidelines, waiting for these talks of assets to pop up.of people think we will start to see those assets change hands. >> who are you talking to? guy: any sources that are going to come on bloomberg television? >> i think so. guy: however to that. -- enjoy the trip on to a completely different subject. biggesthe world's toymakers have held talks about a possible merger. the two companies have held on and off discussions since hasbro approached mattel late last year. nejra cehic joins us with more on this story. thetentially huge deal for toy industry, a toy story perhaps. nejra: this is according to people familiar. we don't have details on how this deal could be structured. this could see two of the world's biggest toy companies coming together. hasbro, which makes my little whichnd furby, and mattel makes the likes of barbie and hot wheels. this would not be the first time that these companies have been talking about a deal. two decades ago, mattel withdrew a $5.2 billion offer for hasbro. if a deal succeeds, it would bring together matt

bhp and rio enjoyed double-digit gains.pressive three days of gains for that stock as well. ,s for reasons for all of this iron ore continues its comparative rally. it is up 9% this week, now sitting at $45 per ton. as well,lers suspecting that they may be cashing out of this market now. is,o how sustainable it china's stakeholders issued a statement saying chinese steel production is going to start closing 100-150 million tons annually until 2020. iron ore supply is still growing. the challenges still remain for the sector. yvonne: still some questions. the australian dollar nudged a little lower after the reserve bank released a quarterly statement of monetary policy. what did it have to say? the bank said that scope remains for further easing. possibly run of the reasons -- one of the reasons we saw weak sales data out at around the same time. this quarterly statement of monetary policy is not a huge surprise. reiterated australia's growth target, between 2%-3%. no change since november. what they did note china as an on

bhp falling 3%. complaint filed in u.s. district court, but goldman tsonga dividend cut means the spreads it should narrow and not widen. some pressures on the shares today. stan fire resources falling on most 18%. resources falling almost a percent. attach a down 4.9%, a manufacturer of electric tools and equipment, cutting profit forecast by 70% to ¥2 billion, shares falling in tokyo. sharp, another down day, 14% down after foxconn delaying that takeover plan. been all about sharp the last few days. let's get some more. what has foxconn been saying here. ? the first sign of trouble came hours after sharp said it is using foxconn's rescue bid over a rifle offer -- rival offer. paragraphleased one statement saying that new material information has arrived from sharp and requires time to discuss it before signing a final agreement. both companies are not saying what the new information is, but sources telling us the sticking point is over contingent inbilities, potential costs case of restructuring, laying off people, sellin

. >> bhp, they have to cut it. >> take a look at pmi. stock actually got all the way down toward 11 and now look at it today. virtually around $15. so conoco is probably not a buy today but sooner or later and i think much sooner now that they made this i think this is the buy. >> if and when they did of course you didn't see it coming quite today but if they did, stock goes down and then it becomes a buy as a wash out. >> once you get that wash out period absolutely. >> you can take a look at that chart and that's going to mirror what we're going to see out of conoco phillips. >> squash that today and crude goes down to 20 is it still washed out. >> probably not. >> coming up an exclusive interview with viacom's second largest shareholder. he joins us to discuss what's next with the owner of mtv, nickelodeon and comedy central and we'll talk to eric jackson. he's the activist pushing for big changes at that company. plus gopro down again. stock drops 90% from its peak. can it ever bounce back? and as we head to san francisco again that'

the big ones, the life of rio, bhp, you draw a line, which is the cost curve.e's at 40 bucks. their costs are somewhere in the high teens. they are actually fine. the credit metrics are getting worse but there is a pay on that cost curve which is making losses. those are the guys under pressure. you look at smaller, high-cost producers. they have seen rating downgrades. francine: how about glencore? i heard speculation. they will split off, they will disappear. who should i believe? alex: glencore is on the margin investment grade. we do not rate it. it's hard, the trading part of those businesses is hard to understand. we do look at other traders, and they tend to be surprisingly resilient even when prices are low. previously thought of glencore as a boring miner with a racy trading element. now it is a miner with a trading element there. francine: that was a great conversation. head of commodities at fitch ratings. stays withlackstone us. we will talk about central banks and negative rates next. mario draghi weighs in on the brexit debate. how close are we to

. >> bhp billiton has cut its dividend for the first time in 15 years.reported a 92% drop in first half profits. underline profit came in at $412 million in the six months to the end of december, compared to $4.9 billion a year earlier. >> what are they doing in this business to counter the downturn? how do you deal with the headwinds? ryan: in a nutshell, it is share and spend less. on the spending cut, they have pared back by about 20%. they will cut spending in the following year by about $2 billion. but it is really about the dividend. they are joining a lot of companies, saying with this kind of commodity cycle we cannot guarantee greater dividends. tom: how are you going to cut expenses when 90%-some of your delta on your income statement is price changing commodities? how much more fat is there to cut? peter: we have done an outstanding job in cutting costs. we have productivity gains of $10 billion the past three years. we think that will continue to be an important factor. in this financial year, we are guiding another $2.1 billion of productivi

of course after bhp cut the dividend but they have taken a further leg down despite the fact that manyf the metals are not looking worse. it may be on expectations of where we go with the dollar. on the subject of growth and central banks, and the euro was under pressure earlier but that's reversed in this environment but the big news out of germany is that the survey of sentiment, the expectation component of that is really taking another jolt downwards. it's the second month that it's declined substantially. now down 5 points on the index. it's not the domestic economy that's the problem. it's the exports for all the reasons that we talk about and you had the final gdp figure come through at 1.1% at an annualized rate. that reignited the talk about what the ecb might do march 10 or the belief that it will do enough which others are suggesting it won't. lead the euro lower. one currency that is down and continues to be down is the british pound. yesterday on all the talk of brexit after the london mayer announced he would join the out campaign and then you have mark carney stone walli

bhp slashing its dividend by 17%. that's the first cut since the late '80s. the miner expected the commodities downturn to continue. boeing electing its ceo as its new board chairman. boeing has won an order from united continental for 25 boeing 737s worth around $2 billion. >> more big movers for you, including valeant pharmaceuticals. this has to do with accounting errors tied to the drugs related to philidor. fortune brands planning to purchase over $400 million worth of its stock in two years. that's helping its stock. >> today's agenda is full of items focused on housing and the consumer. the s&p/case-shiller home price index is expected. february consumer confidence may have slipped due to the market turmoil earlier this month. a trio of fed officials speak today. minneapolis fed president neel kashkari. home depot and macy's report earnings before the bell. >> a tale of two very different retailers. jpmorgan chase will take the stage for its investor day in new york city today. shares of the banking giant have fallen around 12% so far this year. today

bhp and rio off by more than 1% at one juncture in the trading day. the big question after that credit rating downgrade, after the cut by s&p is really whether the dividend is intact given the fact the industry is cost cutting. i'll leave with that thought. that's where we stand at the end of the trading day in asia. >> sri, have a good evening. the end of your trading day. we're just starting here in europe. i'm assuming you're just starting out there as well. e-mail the show, nice and early. the address is streetsignseurope@cnbc.com. we're on twitter as well. @streetsignscnbc. you can find both nancy and myself on twitter as well. @nancycnbc or @louisa bojesen. >> so much still coming up. wasn't exactly a smooth cruise to victory, but texas ted jumps over trump. we'll hit the campaign trail for the latest. >>> plus, the letter "a" is no longer for apple. it's now for alphabet as the parent company of google storms ahead to become the number one most valuable u.s. company in after hours trade. stay tuned top find out what exactly powered the tech tit

bhp one of the sufferers there after it cut its dividend.ered having another bad day after falling sharply yesterday with disappointing earnings. similar story in asia. shanghai managing to eke out a gain, infrastructure names doing well on hope from beijing's investment coming up. >> move over, apple and samsung. the next big smartphone could be from a chinese brand. the company unveiling its latest flag ship device in barcelona today. that's where we find our own john fortt. good morning, john. >> reporter: morning, sara. i'm here with hugo barra. you just unveiled the me5. it's got camera capabilities above and beyond. it's got a sleek new design. i want to ask you, it's also your first launch outside of china of a product. what does that signal about your distribution plans, your growth plans outside of china for 2016? >> you're right, john. this is not only our first event in europe, but it's our first time launching at a global platform, which is mobile world congress. it's why you're here. so we're excited because it's the opportunity

therefore, it's beautiful, bhp in this environment. >> dan?ank of america, short entry. >> b.k.? >> philip morris, good dividend looking to break how the. >> about pete? >> a little more to the upside, giddy-up. >> i'm melissa lee. see you back here at 5:00 for more "fast" and meantime "mad money" with jim cramer starts right now. >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now. ♪ hey, i'm cramer. welcome to "mad money." welcome to cramerica from san francisco. other people want to make friends. i'm just trying to make you a little money. my job isn't just to entertain but to put it in context and educate you. call me at 1-800-743-cnbc.

they cut the hp's rating -- bhp's rating this month.scal year, the pboc is forecasting told million dollars. that is the biggest forecast since 2008. they went to see which industries or affected by the economic downturn such as tourism and retail. people gather in shanghai for the first g-20 meeting of the year. japan's adoption of negative interest rates will be high on the agenda. deadpool held onto -- held onto its place in the box office, seeing off a challenge from three new releases. the 20th century fox film saw sales of $55 million in its second week. kung fu panda three stated took second place. and the witch and haverty single rounded off the top five at the north american box office. coming up next, could it be the phone that knocks apple off its perch? look at the galaxy s seven. that is coming up. ♪ angie: welcome back. it is a: 44 in hong kong, 9:44 in tokyo. georgeor of london johnson says he will campaign for britain to lead the european union in the june referendum. the decision caused him a huge amount of heartache, b

that's company that is a joint venture between brazil's valet and bhp.ge the ceo of the division with homicide implications. >> on a day where moodsy's push brad still further into junk territory. there's br still. indoor team cycling events raising money to fight rare cancers. the andersons celebrating its 20th anniversary. i think you had a note, out of gm? >> man. this thing was so negative. resuming coverage. gross margins expect to fall from 10% to just near break even. i mean they're talking about an extraordinary scenario that would be enough to be able to wipe out their profits? i don't know. i red this and i said, this is so out of synch with what i'm seeing. >> what's it based on. >> it's recession. >> i imagine brazil's got to be a part of it. didn't dan ahman suggest canceling that? >> they had been realized profitability. their estimates are 3% below consensus but the bottom line is you've got to sell. it's going to $26. it's incredibly knellive. i think he's been saying, look. the negativity is stabs to affect the market. this is a critical

i read two years ago, a 24-page powerpoint from bhp billiton, on their confidence they could clear thealance sheet. you had that challenge at rio. you are taking advantage of it with your indian company. how far through the process are we of clearing mining balance sheet? mr. albanese: i think it's still going to take quite a bit of time. recently, all businesses are generating positive cash flow after capital. we are putting our efforts into refinancing where necessary and recognizing the balance sheets are king. our other competitors are doing the same thing. it is very difficult when copper would be around two dollars a pound and oil is down less than $35 a barrel, but the businesses are hunkering down and getting it done. those businesses that are best at it will be best at recovering. this is where we were in the late 1990's. people thought copper was dead. people thought oil was dead. the survivors were the ones that enjoyed the benefit when china kicked in. i'm not saying we going to see a china story again, but those that can manage their balance sheet the best in this time, st

freeport up 10%, rio tinto up over 5%, bhp billiton up 5% as well. goldman sachs cutting estimates for the big banks in the u.s. they expect capital markets revenue to be the weakest in the first quarter than it has been for years because of volatility in the markets. you're seeing a bounce back today. these stocks have sold off hard in the last -- or since the start of the year. again, seeing a bounce back with the general market. quickly a couple other stocks to watch. amgen getting positive news on a late stage trial for an osteoporosis drug. gm considering a pullout of the big investment in brazil because of political and economic uncertainty. we're watching yahoo! as we have been since last week on expectations or reports that the company will put itself -- looking to sell certain parts of the company. that continues to be a stock to watch. the dow jones now at the highs of the day, up 194 points. now let's go to chicago and check in with rick santelli. rick? >> thanks, mary. you hit one of the big dynamics. it doesn't matter how it fits into th

bhp cut the dividend by 75%. freeport downgraded at citigroup. this thing was 15 dollars not long ago, now a move to the upside. here's the dividend cuts in the energy space. finally you talked a lot about honeywell and utx. we had a serious merger discu discussion going on in europe. london stock exchange and deutsche boerse talking, this may revive talks that there would be only a few global exchanges out there. that kind of bounded. who are the big guys? nasdaq, cme, hong kong, singapore, australia. the ceo of the london stock exchange said he thinks there will only be a few exchanges in the world. looks like he's moving that direction. >> bob, thanks. let's get to rick santelli. hi, rick. >> the creep of rates continues moving higher. we crossed the threshold of 180 in a ten-year. we have not had many close above 180, since the 5th of february there's been one. if you open the chart up to get context, beginning of 2014, you can see we're flirting with the double bottom in the mid 160s. something you want to pay attention to. selling for highe

it looks like bhp. when you go down and look at them, it has real demand.hat lumping in is a false lump in but it's what the street does. >> the stock has not done particularly well. >> no. and by the way, there was a 2.7 million share block done earlier this morning that i've been trying to figure out why that happened. and no one seems to know yet. maybe we can find out more. >> right. back to the broader market and our concerns here continuing about china and what exactly is going on in that economy. as i mentioned, george soros and many other people lining up against the yuan. don't know if it becomes a foreign relations crisis for the state department when the chinese say what are all these speculators doing in our currency? how much do we play off china or is it still about oil? >> i think it's more about oil. the futures were kind of just midly after the china news came out. then the reversal of oil is what people continue to say is related to chinese demand even though we cannot pin that down one bit. chinese demand year over year is strong. oil goe

. >> breaking news on bhp. what's happening? mining giant cutting its interim dividend to 16 cents, adopting a 50% dividend payout ratio that we rephase distributions to hashareholders and its capital expenditure by a total of $3.5 billion. a couple of management shake-ups announced as well. their energy chief tim cut will be leaving the company. they are putting steve pastor in charge of petroleum division and daniel in charge of the americas operations which excludes energy. the company also saying that now expects the commodity price down turn to be prolonged. we're looking at the stock down 1.5% after hours. there were some concerns that this would happen, not just for this company but other minor giants in general, given the volatility in commodity prices and this an example of just that. >> thank you. it's interesting to see shares down 1.5% on base beiically a 7t to the dividend. >> all priced in but then again it's not up. that would have been a piece of bad news that at the end says we're going to rally these stocks. th

the global downturn turn in commodity prices, big time, hit bhp billiton, 4% lower there.igher sales and profits at texas road house restaurant chain good for 6% gain. chipotle, haven't checked for a while. deutsche bank says sell that thing. 5.17. down, and dr, time to jump in? >> not a time to bottom fish chipotle. we talked about this at the first outbreak that they had. if you look back at jack in the box and taco bell, the history of companies who had outbreaks of disease-borne illnesses, it's three to six months of down store sales. they've got three plus rocky sales to give us. >>. ashley: deutsche bank say we question what recovery will look like for this company and when it will materialize. stuart: we led the show with the bernie sanders story where he said the pope, pope francis, is indeed a socialist. now, we led the show with that. ashley: we did. stuart: because it stands out. look at that. [laughter] maybe give us more of the story. ashley: bah isically bernie is saying, i've got the pope in my back pocket, look, he agrees with me liz: no, he doesn't, actual