bhp billiton. all of those companies reporting numbers. d better than estimated results coming through. all of that factoring into the european market open. we will have some comments on the great expectations that have weighed into market expectations. let us have a look at how the european equity markets are opening up. this is the start of the european trading day. waiting to capture those first traits. the ftse 100 could be weighed down about best buy what is happening in the banking sector, hsbc. thea: i am starting with gilt markets. the treasury markets reopening after president day. 10 year yield on the treasury rising about two basis points. it does look like it is edging higher, about one basis point by my calculation. or 1.24% on the 10 year yield. tracking the treasury yields higher at the moment. -- looking at various sectors. a lot of focus on miners and banks this morning. it looks as though energy stocks are outperforming, up 0.4% followed by telecoms. material stocks are also higher, 0.2% higher. financials pretty much unch

bhp billiton did end higher ahead of earnings release which ended up quite strong. back to you. >> thank you very much. >> pushing on with earnings, intercontinental shares are higher after reporting profits slightly above expectations and announcing it will return $400 million to investors through a special dividend. the company said revenue per available room has risen by 1.7% year-on-year in the three months to december. earlier we spoke to the ceo of ihg and asked if he was concerned about the performance of his company in europe in light of last year's terrorist attacks. >> revenue was near 2%. if you took out the impact of france, turkey, some of those unfortunate incidents it would have been higher. so it's a good, solid growth market. quite a big market for us. continental europe is about 10% of our business. uk about 5%. we're looking at long-term growth in these markets they may not be as high growth as china, our fastest growing market, our second biggest market. but they're important markets, they're profitable. and what we try and do is focus on priorit

the world's biggest miner, bhp billiton, reports a near eight—fold rise in underlying first—half net12 million a year earlier. quite a turnaround. and shareholders received a bigger than expected dividend of a0 cents a share, signalling its growing confidence amid a resurgence in commodity prices. good news for intercontinental group shareholders — the hotel group reveals it is to issue a special $400 million dividend for shareholders and an 11% increase in its total dividend. this comes as the uk—listed owner of holiday inn reports a 9.5% increase in underlying profit to $702 million for 2016. and youtube is to scrap unskippable 30—second advertisements from 2018. google has confirmed that it will focus on formats that work well for both users and advertisers, and says long unskippable adverts on the video—streaming service are seen as a nuisance by many viewers. ican hear i can hear you all cheering as i read that out loud! let's look at what is on the tablet and sticking with hsbc, all those banking stories making the headlines. the plunger natures bc shares, lots of other banks a

all eyes will be on a number of earnings due from global corporate giants such as mining firm bhp billitonategist, michael mccarthy, explained how the earnings reports could affect regional markets. both very important bellwethers for the market, focusing on bhp we know there has been a big improvement in there has been a big improvement in the underlying commodity prices, copper, oil, coal, iron ore, all doing better in comparison to the big sell—off we saw at the beginning of 2016. we have seen production reports and we know the realised prices so the numbers themselves are pretty straightforward. we think bhp will report 62 cents per share but the key will be what they will do with the money that is flowing into their accounts from those improved commodity prices. and shareholders in particular will be looking for announcements around capital initiatives and perhaps an improved dividend return. india has among the largest number of blind people in the world. more than 5 million, according to government numbers. the country has few employment opportunities for them, but now a private fir

we are also seeing gains in rio tinto and bhp billiton on.linked to commodities are very much in focus. i also wanted to show you this german drugmaker. according to people familiar with the matter, it has received takeover interest from a buyout firm. this company did confirm on sunday receiving two expressions of interest. the shares today have risen the most since two thousand nine and also hit a record high, up 14% and percent -- up 14.7%. guy: donald trump spoke of his ministry with the japanese prime minister over their visit. , abe distanced trade. the numbers were not blowout. in yen, is a little backward looking. shorts see the reduced coming through. our guest is still with us. walk me through the end trade from now on. how do we position ourselves? and at this trade right lot of good things flow from a in terms of how you position your equities and how you are set up in terms of the risk trade. >> it is a tough one. the political noise is unprecedented. think there will be a lot of fluctuation. i still remain bearish on dollar-yen.

also due out, results from the big mining companies including bhp billiton, glencore and anglo americankets are closed today for the president's day holiday. but here's michelle fleury in new york with the details of what to look out for later in the week the question is will they be able to build on the gains last week, the major indexes have been buoyed partly by donald trump's promises fewer vacations and tax cuts for businesses, all happening against a backdrop of an improving us economy. that progress was pointed to, but the dangers of waiting too long to raise interest rates. investors will be looking at the latest federal reserve meeting the clues of any imminent hike. on the economic front, wall street will be looking at plenty of data on the housing market and an insight to the housing market and an insight to the manufacturing sector, look out for the report for february. wrapped up only that, freezing in new york. joining us isjessica ground, uk equities fund manager at schroders. quite a bit going on. let us talk about kraft heinz and their pull—out of pursuing unilever. int

shery: and of course, the big one today after the close, bhp billiton reporting numbers. ing a sevenfold increase in first-half profits, great things expected from bhp as those commodity prices rebound, particularly coal and iron ore. the latest guidance we have is $2.94 billion for bhp and possibly a dividend of 28 cents. shery: thank you. we are looking forward to the afternoon business in tokyo. equity markets across asia, gaining ground. this is bloomberg. ♪ ♪ is 11:29 a.m. in hong kong, 12:29 p.m. in tokyo. toshiba could begin the steps of putting it crown jewel chip the business up for sale as early as friday. sources say the company is considering a plan to raise 8.8 billion dollars. conditions include maintaining employment as well as domestic reduction and development. the report says microsoft is interested in submitting a bid. the u.s. vice president pledges a strong commitment to the eu on his european tour. mike pence said the trump administration would seek ways to bolster relations. trump had earlier questioned the eu's by ability and called nato obsolete. m

the world‘s biggest miner, bhp billiton, reports a near eight—fold rise in underlying first—half nethare, signalling its growing confidence amid a resurgence in commodity prices. now, the prices of commodities — the stuff mined by these companies including iron ore and coal, have risen, which has helped. also there‘s been an increase in demand from china. mps on a select committee have called the government "inadequate" and "deeply disappointing". the women and equalities committee said the government has failed to act on its recommendations published last march to help bridge the gender pay gap. they want more focus on flexible working and shared parental leave. and youtube is to scrap those 30—second adverts that are unskippable at the start of videos. google are going to have a think about a format that works for both users and adverts.they‘ve acknowledged that those adverts can be a bit of nuisance. a quick look at the markets. the hsbc shares are down about 6%. they say that is down to a series of one—off charges. interestingly, it had been climbing steadily since the eu referen

. >> bhp billiton reported first-half earnings that beat analysts estimates.ngs highlight quite a dramatic reversal of fortune over the past year for this sector. >> we are particularly pleased with our pre-cash flow number of almost $6 billion after we have invested in a lot of growth projects. the caution is really based on the fact that some prices are now a little higher than we would have expected them to be around now, particularly iron ore and coal. we are not quite sure where the trump administration will settle down and what that means for world economic growth, but we are slightly alarmed around the sentiment of protectionism, because ultimately that will have a bad impact on world trade. and we relish when the world economy grows in the world economy grows when world trade is growing. >> intercontinental hotels group has missed estimates as it released its full-year results this morning. at least if you look at the revenue line. the pretax profit line, full-year adjusted pretax profit line came in ahead of estimates. you say you are confident in you

some weakness, the aussie market down by a third of 1%, bhp billiton after the bell with earnings results have seen a big stock options trade in the early session in sydney today. if you look at the nikkei, trading higher, the yen retreating, up by .7%. has been a couple of calls about the yen today, the imf saying it will weekend to around 120 before rallying. bloomberg daybreak: asia radio saying we could see the yen go to 125, but down .5% at the moment. thanks. has slipped to second place in the global ranking of oil producers. my next guest says change in oil markets is structural, not cyclical, and $100 a barrel will not be seen again. .oining me now is fouad attar congratulations on the new business. let's kick off with crude oil, the lubricant of much of the economic activity. in terms of where you stand on oil prices, you say $100 long gone, will not happen. what is your call on oil prices? this push and pull war between opec and non-opec and shale producers? >> the general consensus is around the $40 to $60 mark, but structural change is about technology. the cost is always fall

speaking to bloomberg, bhp billiton's ceo andrew mackenzie talked about the ongoing strike in chile.ound the table and things are starting to come together in some form of negotiation. and othersand see, will update you on the progress of those talks. >> some of the issues on the table are ones that other minors allexpensing as well, coming from these higher commodity prices you are saying. you have forecast the market to return to deficit in 2020. should workers not be entitled to see that reflected in their pay? >> the workforce is already extremely well-paid, and i would sure that they will be reasonably too high paid, so i would take some issue with your statement. they are already part of one of the world's most successful copper mines. toare asking themselves prepare themselves in terms of flexibility and productivity so that if things get tougher in years to come when we are dealing with lower grade that they still are investable and we can continue to guarantee many of the jobs that exist in an appropriate form. it is clearly business come up and down. you can see that eviden

onatonin -- bhp billiton also under pressure. the afx 200, closing down 0.8%.tronger yen wayne on the nikkei. despite the resilience we are still seeing, you are also seeing the index down by 0.7%. interestingly, a lot of these players showing a lot of support. we are going to be live from london at the top of the hour. this is bloomberg. ♪ -- cory: this is "bloomberg technology." i'm cory johnson. hewlett-packard enterprise out with results for their fiscal first-quarter. 10.5% fall in revenue. sluggish demand for, i don't know, servers, storage, software, services. crawford del prete, idc. tell me something happy about hewlett-packard. crawford: there are some bright spots. when you get under the covers, they made an acquisition a number of years ago, that's up very strong. strong double digits. there was a conversation we had earlier questioning the relevance of hp. i believe it will be relevant long-term. the way people think about infrastructure will change. they bought aruba. when you have two or three devices per person coming into an enterprise, you hav

. >>> bhp billiton returning to profit in its fiscal first half reflecteding higher commodity pricesnd cost cutting. the move prompteding the mining giant to more than double its dividend. shares down fractionally on the day. >>> intercontinental hotels reporting better than expected full-year earnings. the company saying it would return $400 million to investors via a special dividend and share consolidation. wells fargo naming two new directors to its board. the bank appointing karen petes to the finance economy and ronald sgergeant to the nominating committee. anglo gold said it will continue to pay dividends throughout the year. >>> and anglo american says it no longer needs to sells s asse to cure its debt. sohu.com posting a smaller than expected loss for the first quarter. revenue fell 12% year over year but that beat estimates. shares fractional e aally highe trade in china. >>> uber is launching an independent investigation into allegations by a former employee of sexual harassment and gender bias in the workplace. she published a blog post this weekend claiming a manager ma

you can see glencore, anglo american and bhp billiton all down, but a sharp contrast in what we've seenof more infrastructure spending and uptick of commodity prices has helped these stocks gain more than 11% so far in 2017, as you can see in glencore and anglo american shares year to date. now, while we have seen a rally in u.s. financials today, european banks moving the opposite way, at least some of them. take a look at banco popular, reporting a loss after deutsche bank reported disappointing results. a lot of investors say valuationwise, they look attractive, but we have to watch how earnings pan out over the next couple weeks. jon, back to you. >> thank you, seema. >>> still to come, a lot going on for a friday in washington as the president meets ceos from his strategic and policy forum. what it means for trade, business and your money with former nafta negotiator carla hills next, plus the new tech ipo filing. we'll dig into snap inc. >>> good morning, everyone. i'm sue herera. here is your "cnbc news update" at this hour. mexican drug lord el chapo guzman was transported from

we will be speaking to bhp billiton's ceo at 2:35 p.m. u.k. prime.nglo american profit more than doubled last year, beating estimates. underlying earnings were $1.72 a share, compared with 54 cents a year earlier. commodity prices soared. the producer of diamonds and platinum no longer news to sell assets to reduce debt. russia overtook saudi arabia as the biggest crude producer in december. the country started restricting output the of agreed curbs. russia pumped almost 10.5 million barrels a day that month. about 30,000 more than saudi arabia. it was the first time since march that russia produce more oil. the u.s. was the third biggest oil producer, followed by a rock and china. that is the bloomberg business flash. francine: hsbc shares in london are down more than 6% this morning after europe's biggest bank reported fourth-quarter profit that missed estimates and a surprise drop in revenue. the bank pledged to buy back $1 billion of stock. hsbc's cfo said he is focused on the growth of the business. >> i certainly would not encourage any of our

two of the biggest — bhp billiton and anglo american, have reported sharp increases in profits.ave risen, which has helped. also there‘s been an increase in demand from china. mps on a select committee have called the government "inadequate" and "deeply disappointing". the women and equalities committee said the government has failed to act on recommendations published last march to help bridge the gender pay gap. they want more focus on flexible working and shared parental leave. and youtube is to scrap those 30—second adverts that are unskippable at the start of videos. google are going to have a think about a format that works for both users and adverts. they‘ve acknowledged that those adverts can be a bit of nuisance. these are the markets. shares in hsbc down considerably after those results. now shares that have been doing well are intercontinental hotel group — they announced that they‘re paying a special dividend to shareholders this morning. they had been hit hard by the oil industry because over 14% of their american rooms are in oil—producing states. shares are up at

we have had rise from bhp billiton and intercontinental hotels. that‘s it from me.markable afternoon in the bronx. a man enters a local grocery store, waves to the person behind the till and starts to shop. he goes to a fridge and picks up some bottles of what looks like water. so far so normal. little can he imagine what‘s about to happen. he heads to the counter, but there is one last item he needs. then this happens. caught on cctv from a different angle, you can see a white car ploughing through a plate glass window and crushing the man between two rows of shelves. but look at him staggering free, obviously shocked and hurt but remarkably, amazingly, not suffering from any major injuries. he sits down in the corner. later he would apparently walk to the ambulances. and what about the people in the car? one of the doors opens and a woman clambers out. she looks around more than a little shocked herself. it‘s not clear why she or the car she was in took this unusual route adding a whole new dimension to drive through shopping. but when you see these images again,

two of the biggest, bhp billiton and anglo—american, have reported sharp increases in profits. have risen, which has helped. also there‘s been an increase in demand from china. shares fell in hsbc. russ mould is investment director at aj bell. hi russ. let‘s talk hsbc. it is down considerably today. the share price was doing quite well up until this point when you compare it to a year ago. is it cause for concern? well, the shares had a terrific run, but the shares had a terrific run, but the market was disappointed with two things today. the quantity of the earnings, they came in sharply lower or they were lower than analysts we re or they were lower than analysts were expecting, but the quality of the earnings was disappointing. you mentioned the one off charges there. there was a $3 billion write—off on a european private banking operation and another $1.6 billion for litigation and conduct charges. when you add those up, $8 billion or so and it is the fact there is more of these charges, a continued drip, drip, drip and there was the sale of the brazilian business, while it

likes of mitsui mining rising to a gainsear high, tracking in metal prices, the rebound in metals, bhp billitonis the world's biggest miner and did ramp up its dividend more than expected after first-half profits rose more than sevenfold. there is an ongoing strike in c over itsng some doubt outlook. fortescue slipping despite that surgeon first-half profit and a higher dividend. the seat you know saying it does have a positive market outlook. prices are and usually high and he does not see a significant weakening. there are questions of whether or not the upside for the commodities rally has already been baked in. thanks for that, sophie. one stock that is moving in the wrong direction are shares in fortescue metals, looking like this, down over 2%, despite the iron ore miner with a strong first set of results, including a stronger-than-expected dividend. the numbers are pretty good, but this is really a stock that tends to be volatile. never a dull moment with fortescue. it had a big run up in the days leading to this result worried the market was expecting something special, and got a four f

another earnings report, bhp billiton -- just pull up the chart of the share price today, snapping a drop this tuesday. bhp shares have risen some 50% over the past year. it is expected to post a rise in first-half earnings angst to the jump and base metals, iron ore at the highest since 2014, and the aussie dollar tracking that rise. chief economist sees a resurgence in austrian airport helping to put the aussie at $.80 and beyond. price ando, the bhp the aussie dollar on the rise, helped significantly by the iron horse surge we have seen over the past year. yvonne: thank you. an houran now, just ago, we spoke to the prime minister about everything from president trump and the tpp to the commodities boom and chinese investment. askingun started by malcolm turnbull about protectionism and the importance of free trade with the global economy. that we maintain the drive towards a more open markets and free trade. trade means jobs. australia is a trading nation. our future depends on not simply selling things to 24 million australians, but to the whole world, and so as i said at the g-2

latest toould be the issue a dividend this month, following rio tinto and bhp billiton. the u.s.lar, falling against major currencies as treasury secretary steven mnuchin says he expects low interest rates to persist. joining me on set is the westpac senior fx strategist. great to have you. it's very interesting where this dollar trade is going, isn't it? there appears to be so much uncertainty. the fed is very much on message, very consistent, but how big of an unknown is policy? >> it makes his presentation to congress on tuesday more important. markets are hoping that we get some details on what he's got planned. the border tax, does he like it or does he not like it gekko when are the tax cuts going to come? they are clearly on the agenda, but it makes a big difference to your forecast if something is going to happen soon or if you have to wait for health care reform. infrastructure, how much might be spent, and when would it happen? if stock markets have priced in the positive news, the bond markets and fx are not quite so sure. haidi: i like this story we have on bloomberg

bhp billiton's ceo spoke to bloomberg.ndrew: long-term economic growth for the world is probably around 3%. if we are going to continue on the journey to move people out of poverty, we have to get that to her percent, and that will not happen under a protectionist regime in the united states. it sounds pretty awful. byra: the brokerage owned china's civic security will shut down its equity research operations. it dismissed 90 employees, most of whom worked in research, as well as a few traders. they face revenue pressures including from a proposal in forpe to make investors pay investment analysis separately from trading commissions. francine: with just over two weeks until the dutch election and pulls in france painting a -- and polls in france painting a volatile picture, investors are closely watching the european risk story. what what does that risk mean for the ecb and monetary policy in the 19 countries that make up the eurozone? with me is the chairman of societe generale, lorenzo bini smaghi, formerly of the europe

the world's biggest miner, bhp billiton, reports a near eight—fold rise in underlying first—half netdity prices. and youtube is to scrap unskippable 30—second advertisements from 2018. google has confirmed that it will focus on formats that work well for both users and advertisers and says long unskippable adverts on the video—streaming service are seen as a nuisance by many viewers. let's just take a look at the market. that's all the business news. eight years after it was criticised by inspectors for not having enough beds, operating theatres or trained staff at birmingham children's hospital has become the first of its kind to be rated as "outstanding". the specialist hospital has been praised for turning its fortunes around. our health correspondent jane dreaper visited one of the wards. a mother's tender touch. connor is just seven months old and recovering in intensive care from a liver transplant. home is 50 miles away so his older brotherjames has changed school. give him a kiss. it is a tough time for the whole family but they feel supported by the staff in birmingham. we h

bhp billiton on mining and china, andrew mackenzie.ew york, this is bloomberg. stay with us. ♪ francine: this is "bloomberg surveillance." we are on the road. i am milan. , in new york. let's get the first word news. in the u.s., republican proposals to repeal and replace the aca could pleas lead to people losing their health coverage. according to an analysis obtained by bloomberg, the number could be cut as much as 51% in some states. president trump expected to sign an executive order on refugees and immigration this wednesday. the associated press cites a senior administration official. earlier this month, a federal appeals court refused to reinstate the president span. .- ban that order had been blocked by federal district courts. in europe, plans for overhauling migrant worker rules after brexit later this year. home secretary said her office is looking at a number of options. among them, a work permit, and multi-visa system. mistake at the all skiers, warren beatty and faye dunaway announced the winner for best picture as "la l

bhp billiton ceo will be joining us. to that: looking for conversation. bell. futures up about 0.4% on the dow. switch out the boards very quickly. headlines from neil kashkari, switching out -- it may start quickly. the face of this discussion. basisllar up about four points. a strong dollar dominating that fx market, all of the market from new york, this is bloomberg. ♪ alix: we are watching walmart up almost 4% in premarket reporting. rate quarter of double-digit online growth. 29%. brick-and-mortar change is no slouch. sales as stores growing 1.8%. is one to thetion retailers are able to go on offense rather than defense? walmart has made the turn in able to play offense. david: amazon is start to do brick and mortar. a real clash of the titans. alix: a very different story than a macy's. better.were their revenue was down 4% in year on year. that is very much of a defense story you can make the argument. jonathan: these stores cannot find growth. the rumors are not for retailers but -- try to take over unilever. it will not happen. the road takeaway

bhp billiton returning to profit in its first half reflecting a higher commodity price and continued cost cutting. the improvement prompting the minie ining giant to more than e its dividend. intercontinental hotels expecting better than expected earnings. they would return $400 million to investors through a special dividend. >>> and wells fargo announcing two new directors to its board. the bank appointing karen petes to the finance economy and ronald sergeant to the nominating committee. >> trying to repair some damage. >> do something. >> in entertainment news, the caped crusader flew high over the competition at the box office. the lego batman movie earned an estimated $42 million in the u.s. and canada. the warner brothers spinoff of the lego movie has already reached the $100 million mark in two weeks. >> sorkin family went to see that. >> yeah? >> i've been told that adults should see it, that it was funny. the first one was great. i didn't get to go. my wife took my kids to this. i'm going to out my wife. she took them to the premiere of this. i didn't tell her it was the pr