we've been talking about bouygues all morning. they've pushed their merger deadline to sunday. the board is still planning to meet ahead of april 3rd to review the purchase of its domestic rival. bhrks ouygues off about 3.7%. the ayal yap banks under pressure. that has been been driven down. banco popolare also dropping. they say this delay will hold unless market conditions materially improve. according to reuters, unicredit could use a clause in its contract allowing it to postpone the underwriting deal in case of adverse market conditions. banca carige shares also sinking ahead of a shareholder meeting. let's get another look at the u.k. market. the world's largest tour operator reported a 2% increase in bookings and a 1% increase in average selling prices. as you can see, investors liking that news. the stock higher by about 5.4%. this of course is good news after some of the heightened terror threats we've seen across europe that had previously weighed on tui and other stocks in travel and leisure. let's bring you an update on premier foods now. they are bucking the down t

bouygues try to salvage their wireless phone merger plans after announcing that talks have not movedly. they will meet again before the end of sunday before a final negotiating push. hosting talksis in downing street on the prospect of huge job losses in the steel industry. it follows its decision to offload its u.k. assets after losses and write-downs left the division with almost zero value. steel prices have plunged to their lowest in a decade, meaning they could struggle to find a buyer. that is your bloomberg business flash. francine: thank you. breaking news over the last couple minutes. this is from south africa. the president, jacob zuma, has failed to uphold and defend the south african constitution, according to the courts. i'm not sure we have seen a huge impact on the local currency, but we will get that chart up for you in to monitor any more headlines coming out of south africa. this is south africa's top court, ruling on jacob zuma's allegations over the last couple weeks. this is according to scandals about his home renovations. we had poll the last couple weeks to sa

president obama visited memorials in bouygues ironies.0th anniversary of the country's military coup. he said records of the u.s. is possible complicity will be declassified. gary shandling has died. he pioneered a new brand of comedy on the larry sanders show. emily: this is "bloomberg west," i am emily chang. many companies in the red with ceos forecasting slowing growth of this year. the concerns don't appear to have touched the start up tanium. this is a $3.5 billion company, thousands of computers and mobile devices that can deliver security updates in just 15 seconds. joining me now is orion hindawi. last time we talked you were see po, and you now taken over the ceo position from your father. you have spoken out very publicly about the bubble in the cyber security industry. let's start with jobs first. what mark do you want to make on the company? orion: i think we are doing exactly what i wanted to do for the last eight years, build something where proud of, ship to customers, and at 99% of them renew every year. the interesting t

we're looking for consolidation between orange and bouygues.like they are not quite as close. will they get over the wire come this weekend? all eyes on what happens on sunday. we are turning our attention to the united states. yellen-fueled- rally. says policy from central banks should keep driving stocks higher well curving the rally in the greenback and leading to higher bond yields in europe's and europe -- u.s. and europe. give us your since overall of where you see -- less like about the rate environment and the dollar in particular. we have seen such crushing on the dollar in the past month. towndenly more dovish reiterated by yellen this week. >> to begin with, the market was 2015.ely bullish ending the market was unrealistic to the degree of tightening the good of expected out of the fed. inthe data started to come on the softer side it became quite clear that the tightening of the fed, not only the actual rate hike, but the impact of the language of the fed come the expectations the fed is creating are having on the market. it became

looking at orange andbouygues, we are seeing the stocks declined because we heard today talksrange and bouyguesot progressed sufficiently. the board will meet at the weekend to take a definitive position. it is really going to be a make or break weekend for these companies. they try to salvage their talks. if not advanced sufficiently enough to clinch a deal. they have agreed to extend the stocks after months have failed afterend these talks months have failed to produce an agreement. manus: thank you very much. i want to bring you a picture that encapsulates everything. worst january for global stocks since 2015. it was that moment when the world really questioned some of the bank's ability to survive. the question what was going to happen in china. the question what was happening with a negative rates. there was is all pervasive sense of fear in the market. you either believed in that turning point in the morning of the 11th of february, and you into thisuy progressive valid. still european equity markets are the worst performance relative to the u.s. since 2003. it was a demolition in terms