i think that bristol needed help. bristol is at 13 times earnings. >> they had r&d setbacks.eing kind. >> you are more of a diplomat. these companies are more interesting to me. i like the cvr. if you have a product that has very good science group, if that product works, then you've got something to live for. otherwise, you've got bristol-myers losing to mercke. you have celgene losing in the ms franchise. you have revelman running out. >> it sounds like two drugs holding each other up. >> some could say that. i am saying they are sober. >> okay. >> wow. what a morning. we have so much to do it's frightening. >> we have to get more stuff. we have to talk about my dog. inviddia. do you know it led the market? it is worth doing a mad dash about. >> we have our first mad dash of 2019. we have seven minutes until the opening bell. here is one more last look at futures. more "squawk on the street" after this. hey... saved you a seat. this round's on me . hey, can you spot me? come on in! find your place, today, with silver sneakers... included with many medicare advantage plans.

that's what attracted bristol here.haterapy from will be a long-term plate. -- long-term play. this is something they need to build. those are the recent acquisitions. the main attraction was the cash flow. vonnie: it seems there are going to be no regulatory problems here. this is fine because they are in different types of areas. what happens when the cash generation from celgene gets lesser for bristol? >> here's the big contention. is supposed to start going generic in 2022 and then fall off a cliff by 2026. we think that could happen earlier. we've been publishing that is one of our concerns. even in the bear case scenario, you will still make good money and they will pay down their debts. this is financial engineering here. guy: thank you very much, the view from bloomberg intelligence. still had, more on the markets, our exclusive interview with the dallas federal reserve president. that is coming up. this is bloomberg. ♪ >> i have been saying for some time, i don't think china can indefinitely keep using leverag

bristol-myers squibb is down. investors are saying this is a good deal between bristol-myers and celgene. >> and think it is interesting that it is not trading even close to the offer price which is 102. it is only trading up 55%. is this an apple problem or a china problem? it is a little bit of both. remember that the smartphone market has been challenged. out, apple is a luxury good in china. we also have to consider there are geopolitical issues at play. apple is a large american brand. the chinese consumers are starting to feel the concerns around the trade war. perhaps reacting against apple to some degree. i think that is part of the issue. .e will hearwe more i think that is definitely a factor. is this good news for google? are people switching to android phones? >> i'm not sure it's a win for google because it is a broader smartphone market issue, not just apple. there is the potential that google and android could grab some share back from apple. the vast, android owns majority of smartphone market shar

we have the alix: celgene bristol-myers merger. bristol is getting hammered. down 14%. do you learn about the market reaction to this deal? it's a good question. i don't know if you want to read through to a market a single deal. they can often be valued on different measures. the point that this is a very sentiment driven market, so any news is the negative news with the market having a difficult time overcoming that news to the extent that any deal involves that. it's not particularly well-received because that is more extensive today with interest rising in s&p 500 until the-- companies fed shifts gears. it more on the interest rate markets will be the case. health care has its own specific trading characteristics that are not indicative of what happened in the rest of the market, unlike tech. it appears to drive markets one way or another. view this as very deal specific with probably a little bit of sentiment headwind creating negativity. talking about the yen and the wild moves that we saw in the overnight trading session, it was down with the sterling, the lira,

it is about bristol-myers and celgene, not about somebody else having interest in bristol-myers or anynothing that i've been aware of that took place. >> thank you for saying that, david. because there is a lot of people who think, wait a second, now that bristol is down so low, pfizer will buy them there were multiple buyers of celgene. it is all phony. your reporting puts the end to this notion that what you're going to see is bristol being bought for 60 by pfizer. i want to cut that stuff out we're back doing m&a and thank you for telling the truth because the number of lies i got this weekend were extraordinary. it is almost like if cody parkay were to hit the uprights twice and -- oh, sorry, that actually did happen >> certainly the jpmorgan health care conference is one of most influential conferences we get all year long. we're glad to have jim there today. the other news is on china and u.s. trade talks in beijing. and then the commerce secretary wilbur ross talking about that apple warning from last week and whether or not it was truly due to conditions in china take a listen

these savings come as bristol suffers set bax in development d of newgs. it's facing competition from merck. celgene will lose patent protection for its best selling drug by 2022. celgene shareholder will receive bristol myers squibb stock and cash giving enemy a premiumn the closing price on wednesday. bmo capital marke analysts alex arfay called it expensive butca lo in a letter to investors. >> the rationale is complementary portfolios in cardiovascular decease, a promising pipeline and cos synergiy. >> the merged companies will have products worth $1.0 billion each in annual sales. management says the combined company will create a pipeline of potentially profitable drugs in development with six near-term product launching that could deliver more than $15 billion in revenue potential.xp butts say it all depends on how these drugs come forward d if they get to market. shareholders from both companies and regulators still have t give final approval of the deal. if that happens bristyers squibs acquisition of celgene is expected to be completed by the thi

bristol-myers will hold 69%.runway carcinogens by 2022. >> you're right, mike, 150 the high -- what did you say, 149. >> i saw the closing price, 146 in early october >> 146 and now all the way -- back in '12, 2012, it was $20. so it went from $20 to $146. and back to the mid-60s where now it's being acquired. >> i would also point out that bristol-myers is saying the transaction is not subject to funding positions. they're going to be funding the cash portion with cash on hand >> and it's one of those drug centers refract forms of cancer. it cures people, essentially it's a really powerful drug. and a life-changing drug for a lot of people. >> you don't think of that. >> really, the group getting cut down, gilead bid up a dollar on this type of news. the idea that certainly the more mature bio-teches with general cash flow, but maybe a limited amount of products >>> i was just going to say, the ceo is here, and the news just hit coming back from break what is your expectation looking at this? >> yeah, this just

bristol-myers' part?> i think a part of it, but they were looking at it for two years. the big reason that bristol-myers fell 14% yesterday, is they think it hurts bristol's own growth prospec prospects. i don't think that's the case. i think celgene finally got to a point where they could reach an mutely agreeab mutely mutually agreement price. >> there's a large drug generating a lot of cash flow, they will use that cash to de-lever some of the debt for this deal. and bristol made clear they have conservative expectations for relamid. they're making this deal for those pipeline assets. >> thank you >> thank you. >>> the business community is mourning the loss of a major pioneer in the airline industry. herb kelleher, former ceo o southwest airlines passed away on thursday. he changed the airline industry creating a low-fare carrier that made travel more accessible to the masses today southwest carries more passengers within the united states than any other airline. reaction is pouring in this morning fr

i've got one and what can bristol-myers do? i'll give you my take. all your calls on the lightning round. so stick with cramer [leaf blower] you should be mad at leaf blowers. [beep] you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. but you're not mad, because you have e*trade which isn't complicated. their tools make trading quicker and simpler. so you can take on the markets with confidence. don't get mad. get e*trade and start trading today. >>> so you're worried about a serious worldwide economic slowdown, something that's more apparent by the day, what stock can still work in that environment? you won't secular growth stories that keep on working health care, consider amn health care service, which is a managed service provider, that provides hospital and workforce and staffing solutions basically, handle the business side so doctors can focus on treating patients. in an environment like this one, with high labor costs, health care providers need staffing services more

i look at prophet bristol myers and say what's going going on with bristol it has underperformed the market and has a ridiculously poor day today. they report in a couple of weeks. one has to wonder. you see trough valuations in bristol myers. i know pfizer trades more expensive than the rest of the space but it's the best out there. for my money pfizer works. >> mel introduced this segment by saying a bright spot upon a crappy day >> she didn't say crappy. >> i'm saying crappy you know what happened when you take one piece of crap and another and put them together. you have a bigger piece of crap. the celgene still down 37% from the highs. two companies really struggling. >> biotech has been trending downside. >> it's for the a broit spot if you see acquisitions out there. >> you see the names out there that do have growth. >> single digit pe names. >> yes that still have growth and throw off incredible amounts of cash. knows are the names -- with the pipeline, knows are the names that are going to actually be very, very attractive. >> they were just all underappreciated. >> i put t

the latest bigger merger in the field of health care leads our global report today is drug giant bristol myers squibb move to acquire a biotech firm sell gen for a price of seventy four billion dollars the deal values stock at a premium greater then fifty percent above its closing price at the closing bell yesterday and bristol myers squibb plans to take sixty nine percent stake in the merged enterprise the new partners say they will hold the patents and profits from a combined total of at least nine drugs which produce more than one billion dollars in annual revenue on that point bristol myers c.e.o. giovanni kapoor e o has hyped six expected new term product launches from the new company markets seem not to be buying it as bristol myers stock fell more than twelve.

is this major news that bristol-meyers squibb is acquiring cellgene this morning.s a major drug portfolio or drugs in development for oncology, immunology, inflammation and cardiovascular disease. there's a real focus in the biotech and pharmaceutical world of fighting cancer and cancer fighting drugs, particularly in immunotherapy. >> celgene is in the forefront of that approach and development of drugs effective in immunology. i think this is a bigger story. some ebbing on of mists have said -- economists have said this is a reason to be positive about the stock market. this kind of takeover does remind us that there's value in some of the sectors that we're looking at. so i think this actually is a broader story but also this is -- look, these big far ma pharms are buying innovation. dagen: this is something in the history of accusations you often he see this, the acquiring company the stock falls, the company that's being purchased the stock shoots higher, 33% gain on celgene's shares right now with a 10% loss on bristol-meyers squibb. you have to be confident

because its main competitor, bristol myers.t shelled out $74 million to by celgene, and they wouldn't have done something so radical if merck weren't winning head to head trials against them yut cetruda is taking names. you'll hear it's got a rock solid balance sheet, and like proctor & gamble, it's a fabulous slowdown stock. you have my blessing to buy this in weakness even though we have the powell pow rally mcdonald's up in the fourth quarter. i'm loving it. i believe mcdonald's is about to become a terrific technology company now that they can pick and choose what works in locations all around the world it's like a giant laboratory for him. before this guy took the reins mcdonald's struggles he's a compelling figure and once again, this is exactly the kind of company that is thrive in a softer economy so you now keep thinking about powell keep thinking about powell he should have been thinking, uh-oh, p&g, uh-oh, merck, and uh-oh, mcdonald's. but this was the real tell verizon. okay, i personally am tired of verizon going h

we were thinking that deal will settle now this is sitting in bristol's corner this e corner bristol is essentially assuming significant risk here. their share holders were asking why are they doing this, why are they not waiting >> why do you not like it? you cover celgene, but if both of them face maturing businesses and this is a combination to try to get at the future of pharma, why do you think shareholders are so upset >> so the reason bristol-myers likes this deal, it offers them two things first, they're very focused on oncology, lung cancer, largest drug, and what celgene brings is diversification into the very adjacent area of hematology. so bristol's oncology, celgene hematology and they fit together quite well very good overlap in the logic and organizations. they like it for that reason also diversify them to a set of other issues the biggest problem for bristol shareholders was the neither patent decision on revlemade 40% of evaluation difference makes the shareholders of bristol very, very nervous they specifically did not buy celgene for that very reason. >> is there

at a premium greater then fifty percent above its closing price at the closing bell yesterday and bristol myers squibb plans to take sixty nine percent stake in the merged enterprise the new partners say they will hold the patents and profits from a combined total of at least nine drugs which produce more than one billion dollars in annual revenue on that point bristol myers c.e.o. giovanni kapoor e o has hyped six expected new term product launches from the new company markets seem not to be buying it as bristol myers stock fell more than twelve percent on the news trading around. thirty five dollars per share in new york while celgene stock price increased by more than twenty seven percent but look at that they're going from around sixty six dollars to almost eighty four dollars per share up one thousand bucks on that news before backing off a little down to about eighty two dollars just moments ago and turning to tech apple has cut their revenue projections citing reduced demand in china for their signature product the i phone china is apple's third largest market and accounts for abou

at these levels the darn thing was too cheap for bristol-myers not to buy it.o cheap because biotech had fallen out of favor with the wall street fashion show bristol-myers doesn't care about the fashion show it cares about earnings and new drugs in the pipeline. celgene has both, which is why this deal will be so beneficial to bristol-myers shareholders. we know from the big bank conference calls that there are a lots more deals in the pipe. again, that's because the stocks got too mutilated. they're so cheap that opportunistic buyers would have to be crazy not to pounce. deals that were simply unworkable because of price four months ago are now being done with alacritalacrity i bet this merger mania is just getting started. stick with cramer. people tell me all the time i have the craziest job, the riskiest job. the consequences underwater can escalate quickly. the next thing i know, she swam off with the camera. it's like, hey, thats mine! i want to keep doing what i love. that's the retirement plan. with my annuity i know there's a guarantee. annuities can

why did the market hate this so much from bristol-myers squibb perspective? was such a surprise. nobody saw the deal coming. celgene has been a toxic name and biotech for the past several years after a series of research thatities and some worries it might face competition by going off patent. iswhen you say toxic name, it deep problems or just underperforming? >> there were some real problems in that they had unenforced errors. they had a drug that could have been improved by now if they had run the program effectively. it got denied because of -- by the fda because they had not provided enough data. the kind of thing that should not happen for a company of that size and stature. when you couple that with other errors, people were starting to doubt management. what is bristol-myers squibb seeing? >> they are seeing the best selling cancer drug in the world. it will continue to grow going forward. the swing factor is when that revenue starts to decline. they are getting incredible cash flows at a discount because of the management issues. then a pipeline of n

the latest bigger merger in the field of health care leads our global report today is drug giant bristol myers squibb move to acquire a biotech firm sell gen for a price of seventy four billion dollars the deal values stock at a premium greater then fifty percent above its closing price at the closing bell yesterday and bristol myers squibb plans to take sixty nine percent stake in the merged enterprise the new partners say they will hold the patents and profits from a combined total of at least nine drugs which produce more than one billion dollars in annual revenue on that point bristol myers c.e.o. giovanni kapoor e o has hyped six expected new term product launches from the new company markets seem not to be buying it as bristol myers stock fell more than twelve percent on the news trading around forty five dollars per share in new york while celgene stock price increased by more than twenty seven percent but look at that they're going from around sixty six dollars to almost eighty four dollars per share up nineteen bucks on that news before backing off a little down to about eighty

john mcguire, bbc news, bristol. this is the briefing from bbc news., kimjong—un, is making his fourth trip to china where he's expected to meet president xijinping. there's speculatio that the visit is part of the preparations for a second summit with president trump. a group of more than fifty british mps is calling for police to take action about what it calls the "deteriorating public order situation" outside parliament. an investigation is underway following incidents of threatening behaviour by pro—brexit protestors. now it's time to look at the stories that are making the headlines in the media across the world. we begin with the telegraph who report british and european officials are discussing the possibility of extending article 50 amid fears a brexit deal will not be approved by march 29, the paper cites unidentified sources. ‘s the times leads with the uk's national health service and how —— the times leads with the uk's national health service and how millions of patients will be able to use skype for hospital appointments in a "wholesale

both firms have been facing tough times, with bristol—myers's shares down 15% last year and celgene'se models from its stores in germany over a patent dispute with chip giant qualcomm. a court ruling in munich on 20 decemberfound apple had infringed patents on power—saving technology. the german case is qualcomm's third attempt at blocking the sale of iphones. the california—based chip maker has made patent infringement claims against apple in the us and china already. that's it for the business briefing this hour, but before we go, up next, newsbriefing. we'll take you through ther stories making headlines in the global news media today. police believe members of organised criminal gangs are getting jobs in prisons, so they can smuggle drugs and other contra band to inmates. it comes after an "x—ray" body scanner was installed at leeds prison. the prisons minister, rory stewart, says he'll quit if levels of violence don't come down by august. here's our home affairs correspondent, danny shaw. stand up on those marks. spin around and face me. just place one hand on to that. using x-ra

big win too for bristol city.e survival to worry about. josh brownhill with the only goal of the game. no trouble for manchester united. they are safely through to the next round. a fifth win in a row for new caretaker manager ole gunnar solksjear as adam wild reports. in this famous old competition, these two sides of history. manchester united and reading first met in the fa cup more than a century ago. times may have changed, but this is a united side beginning to remind everyone of what they've once had. they went ahead, thanks to a very modern twist. the ball went in, but a video replay here gave them a penalty instead. juan mata keeping his cards. despite their stuttering season in the championship, reading to create enough chances to keep this a contest. opportunities though theyjust could not take. united could. their lead was doubled before the break, romelu lukaku squeezing into second. winning one and the extent of five. not bad to the glory days quite yet at old trafford but for manchester united thing

this let's talk about bristol-myers deal.t to start with a headline to a analyst report from bank of america. they were talking about bristol-myers just minutes before this announcement. question got to us feel sorry for the -- >> you have got to feel sorry for the guy. let's not get too carried away. people are excited going into the health care conference next which is typically a kick in all .4 many deals in the sector. volatility in the market, the trade war, and these worries do persist. think this won't be the best year for megadeals and that may yet be true. the celgene look at share price, yes, it is down. sorry, i mean bristol-myers. not rising as much as you might think. some cash, getting alongside is trading where you would think. it is not as high as the offer price right now. last year was not a great year for either of these companies, by the way. both their shares were hit quite hard. >> am wondering what the regulatory pressures will be like. nancy pelosi was talking about high drug prices. how much pressure

matthew hill, bbc points west, bristol. footballers are taking part in a study that could soon lead to pitch side diagnosis of concussion. here's our sports correspondent, david ornstein. concussion is a hazard of most sports — not least football. only last night a nasty collision during the fa cup game between southampton and derby county. but now medics believe they may be nearing a breakthrough that could transform how the problem is handled. following a decade of research, a new test has been devised to detect concussion through saliva and urine, and it's being trialled in the premier league this season. having a black and white test that gives you a clear answer, that's understandable to everyone — to medical staff, to players, to coaches — is absolutely the holy grail. an objective test like this would be a game changer and would really help at all levels of sport. the idea is that once collected the samples will come here to birmingham for analysis and a clear diagnosis that can help determine the correct treatment a

elsewhere leaders exeter beat bristol and harlequins saw off bottom side newcastle.lped george north to one of two ospreys tries. wins too for benneton, scarlets and leinster. and it's the first day of the new netball super league season... all of the first round matches have been played on the same day, in the same place — the birmingham arena. and in a repeat of last season's final — wasps beat loughborough lightning by 72 points to a2 in what had been expected to be a much closer tie. there were also wins for superleague debutants london pulse, team bath and strathclyde sirens. that's all the sport for now. two stabbings have taken place in east london this afternoon police were called to church road in leyton just after half past three — where a woman was found with stab injuries, and two men had suffered slash wounds. the woman, who is in her thirties, is in a critical condition in hospital. and in what is believed to be a separate incident a couple of miles away, a 26—year—old man was found with stab wounds on field road in forest gate. the victim remains in a

let's do final trades. >> bristol-myers we like bristol-myers.he market didn't like their acquisition. they are the leader in immuno and oncology we own it with cover calls around it as well. >> thank you thanks for being here. >> t-mobile also participating in the 5g. >> alumina, back to where it was when they reported a very good court and good outlook it's a compelling opportunity. >> t-mobile. you own that >> a little bit. i'm more interested in a company call tigo. milicom is owned by a swedish company. going to be merged down 7 today you have to buy it >> pfizer got downgraded it's wrong they've got a great pipeline >> great seeing you. >> thank you for having me "the exchange" with kelly starts now. >>> thank you. welcome to "the exchange." i'm kelly evans. stock picking is back. some big names up on big beats today. we'll tell you about one cautionary sign still emerging from all of these earnings some trade talk reality. we'll talk to one of the president's top chinese officials. and unconventional mortgages are making a return. should w

i'd buy bristol. i'll tell you why.decision to pull on this small non-cell lung cancer the stock is barely down what does that tell you? >> i think people are reacting to the presentation. >> the deck is good. >> i'm not done. going to talk about arconic too. we got the news arconic said we're done, we're not talking to you anymore, surprising everybody. 22.20 was the number according to reporting from some others out there, there were some iingly minor issues whether it be pension cost but the board walked away. since then you've had a lot of stock change hands and you've had any number of investors trying to pressure, as you might expect would be the case, the board of arconic to reconsider and hope they would reengage with apollo saying, come on, 22.20 was right there. yes, it get emotional. yes, apollo can be very difficult to deal with in certain ways and there does appear to be a lack of trust on the part of the board which was simply too much for them and the reason they said no. they do have three board members.

bristol-myer squib is buying rival cell jean in a $74 billion cash and stock deal.ned company will have nine products with more than $1 billion in annual sales. celgene would receive 1% of britt to mire plus, $50 in cash for each share they own. they would own about 69% of the company. shares of bristol fell about 13% yesterday on the news while >>> airline stocks took a beating yesterday after delta trimmed its revenue expectations for the fourth quarter. the airliner announced that fourth quarter revenue will rise about 7%. that's a half point lower than expected. the air carrier said sales of higher-priced tickets sold closer to departure less than anticipated in late december. shares of delta sank about 9%. it's worse the one-day showing since 2012. the cofounder and long time head of southwest airlines herb kelleher has died. he revolutionized the industry by helping to create the low-fare carrier that made air travel more accessible to passengers. he was a lawyer in san antonio when a client came to him in the late 1960s with the idea for a low-fare airline th

bristol-myers squibb sank around 14%.eredcyberpolice have baidu and sohu to suspend services their news for a week. authorities clicked off a campaign to eradicate so-called vulgar information on online media including messaging services and live streaming platforms. investigators haven't explained why they were bun anybodied or needed for them to resume operations. we have.s what on the way down. hang seng, looking at the currency, 6.85 for the offshore. moves, a look at those luxury goods companies connected with china feeling it. taifook on the way up. a pull back here. 1.8%.onite, down let's have look at some others. downgrade from morgan stanley yesterday. 8.2%. losses at levels not seep since may 2017. petrochina, hold. mgmchina, what we have there is upgrade that. to sign up a deal with nokia. with nokia. >> we're 90 minutes into the trading session in tokyo. really, not a good welcome back traders in tokyo here today. thanks to that surge in the yen. seeing the nikkei 225 down 3.74%. the brings us back to lowest l

on new year's day, a student from bristol university fell 500 feet down the mountain from this path andcopter managed to winch them off the crag from where they were and i was below the crag, which was carn dearg buttress, where, unfortunately, she'd fallen. it was the second death in recent weeks. patrick boothroyd, who was 21, died in december. tens of thousands of people climb ben nevis every year. most use this path to the summit, which is relatively straightforward, but some, including the two students who died recently, attempt the rock faces and gullies on the northside, which, even in the best weather, are never free of risk. many new climbers use professional guides. this group is returning from the mountain after a training day. it's horrible to hear of accidents and fatalities in the mountains, especially because it's such a life—affirming thing to do. despite all of our best efforts, we can't control everything. it is a risky environment and sometimes things go wrong fairly randomly. experienced climbers know and accept the dangers of scaling britain's highest peak. those wi

matthew hill, bbc points west, bristol. a five—year—old woman at rest into the end durance records.ress breast milk for her baby daughter at checkpoints along the way to tick jasmine, who lives in edinburgh, had just three hours sleep in four days. she said the race was brutal and that she was hallucinating by the end. an extraordinary achievement. now, he is a highly paid sports star that he is too afraid to leave the united states. he should be in london playing for his basketball tea m london playing for his basketball team tonight but instead he has remained in new york, fearing that he could be arrested or attacked if he could be arrested or attacked if he travels. turkey has issued a warrant for his arrest, claiming he has links with armed groups linked to the failed coup in 2016. he's the nba star who's not afraid of confrontation, both on the court and now off. enes kanter is a wanted man in turkey. the government there claim he's linked to a failed plot to overthrow the turkish president, which he denies. speaking to me in his home city of new york, enes kanter explains his

we'll hear about the ceo and bristol-myers ceo on the acquisition of cell gene or the one awarded by the people? uh... correct! you don't have to choose, 'cause, uh... oh! (vo) switch to the network awarded by rootmetrics and j.d. power. buy the latest galaxy phones, get galaxy s9 free. i am a techie dad.n. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. >>> tumultuous times ahead for altria invested in juul vivian, great to see you a key thesis is you believe this investment of juul is a right one but you think this will incentivize altria to accelerate the declines they're already seeing i understand the declines have been going on for a very long time, but why are they incentivized now to see that go faster >> certainly, so as a function of the deal, juul and altria have entered into a client service agreement. essentially putting altria's cigarette and broader tobacco sale

revenue on that point bristol myers c.e.o. giovanni for e o. has hyped six expected new term product launches from the new company markets seem not to be buying it as bristol myers stock fell more than twelve percent on the news trading around forty five dollars per share in new york while celgene stock price increased by more than twenty seven percent but look at that they're going from around sixty six dollars to almost eighty four dollars per share up one thousand bucks on that news before backing off a little down to about eighty two dollars just moments ago and turning to tech apple has cut their revenue projections citing reduced demand in china for their signature product the i phone china is apple's third largest market and accounts for about a quarter of the company's revenues apple c.e.o. tim cook said his company had been surprised by quote the magnitude of the economic diesel or is ation particularly in greater china referring to china taiwan and hong kong mr cook also cited rising trade tensions with the united states as a contribu

john maguire, bbc news, bristol. new social workers working with vunerable children in england. the profession is facing huge challenges at the moment. according to the charity frontline, who will recruit and train the new staff, there are 6000 vacancies in the field. navtej johal reports. working with quite a lot of young people who are kind of known to youth offending services, and so i work in a team working with teenagers. john was trying to forge a career in theatre, but, after experience working with young people abroad, he decided to become a social worker and applied for a training programme run by the charity frontline. i would not have been able to afford, at that point, to do a kind of masters programme. i was not in a financial position to take the time off work and also to pay for that course. so the way that frontline is funded was really helpful to me, but also because it was a work—based route that was really attractive to me. the government is hoping others will followjohn's lead. today, it is announ

west ham are in front against championship side bristol city. marko arnautovic heading in.monwealth games, england's netball team are hoping for an even better 2019 with all eyes firmly focused on the world cup which starts injuly. in the meantime, the superleague season begins today with all ten teams competing in birmingham. london pulse will be making their debut, led by the england captain ama agberze. our reporter kate grey has been to meet them. for yea rs for years and years, we have wanted to achieve it. actually doing it was a shock to us. almost was slow motion. and then i think it wasjust almost was slow motion. and then i think it was just carnage and mayhem. ama agberze has had quite the year as england captain but has spent the majority of her netball career playing in the new zealand and australian netball league. they are professional and moving at the right direction in terms of where female sport needs to go, you can play netball, train in the day and on court, the intensity is crazy. now she is back in the uk and has joined a new team, london pulse, and h

thisu look at advertisement from a bristol gun maker bristol is a support city closest to birmingham. you can see he's advertising he makes supplies with guns in store for the african west india and newfoundland trade. and then there's the image of the native who has taken up a musket. and a ship that bring civilization to the 18th-century believe and value. on the other side you have the typical -- that is what -- the arm to native is not a threatening figure here. that changes in the 19th century. purposes and new violence related to property possible. even in warfare they were used as a terrorizing deterrence. must get killed but the rate of fire mattered more than accuracy. they were not aimed. students which--soldiers would load and fire in unison. he said firearms have revolutionized warfare with the noise and invisible desk to desk -- invisible death to which every man feels exposed. firing would strike the enemy at random, and it's often the bayonet charge that would decide the outcome of the battle. it understood as a threat to the regime or property ushered in in 1689. guns

a deal of the new year this comes, of course, after bristol-myers squibb announced last week it was buying-gene after a look at how the companies reacted, loxo oncooling up a whopping 66%. eli lily, little change. now, keeping in the pharma space, the chief executive of novartis says the company will focus on developing core innovative medicines after spinning off eye care company. he made the comments in an interview with jim cramer. >> my conviction we need to focus the company and focus the capital. there is so much great science there is so much possibilities in cell and gene therapies in our core pipeline. we can't use our capital across all of the different areas we're in what we're doing with alcon is a spin, the tax neutral spin, to our shareholders say, shareholder, look, you get to own alcon, which is a leading medical devices company, leading in its space, great company with a great outlook. you have the opportunity now to own that great leading company and own novartis, which is a compelling thing >> it's really important because that is science. you're willing to lose the surg

if they do that, it will be a winner for bristol meyers. if it won't, they'll be way overpaid there are obvious synergies, they can take out a lot of cost. the risk is they may lose talent in celgene they have to make sure they keep that talent. i would note with regard to 54% premium, that celgene is down because of disappointment on juno it could be worth paying on the other hand, you look at the prices this morning, bristol meyers, worth 74 billion, and that's what they're paying for celgene. it is a big risk. >> we've seen quite a bit of m and a activity in health care the last couple years, among drug makers in general do you think this continues the consolidation wave >> well, it is consolidation and focus. you saw some of the other moves made, pfizer spinning business, i think everyone has to focus in bio pharma it is hot. that's where it is top companies are worth a great deal if they perform so we'll see what happens. but i think it makes a lot of sense to concentrate energy, cancer drugs, immunology, gene therapy, cell therapy, a

more time but how can bristol support britain if it doesn't even know what it once. was a cunt. better if it's most brussels can support britain with continuity. it has to be made clear to negotiated it breaks it down at ease. which for many represent a balanced compromise will not be undone. but also that if it's a question of gaining time so that britain can decide what it wants and figure out the consequences of a hard break. then this will be accommodated. and then britain can decide whether it wants a new referendum or whether there should be a general election or if it just needs time so that the public can understand the situation. but london only has a two year transition period in which disposing can be. about i think this need for time is due to the fact that britain itself doesn't really know what it's done. what does. and it had a completely false understanding of its to go shooting position and the alternatives on the table and what this. was about the government saw the clock ticking and was obliged to make concessions that it knew from the start they would have to

wins too today for bristol and liverpool, whilst brighton and everton drew 0—0.tch between charlton and manchester united had to be abandoned today, after an injury to charlton's charlotte kerr. the game was stopped for nearly an hour while kerr received treatment on the field — an ambulance was called and the game was abandoned. no detail has been given on kerr's injury, charlton say they'll give an update after kerr has had a scan. lionel messi has reached yet another landmark... he's scored his 400th la liga goal — in 435 matches. barcelona have beaten eibar 3—0 — they're top of the table. he's already the league's all—time leading goal—scorer, with christiano ronaldo in second place. it was a must win match for the exeter chiefs in ruby union's champions cup — and quite a match—up too, against the french champions castres. but they finally managed to find some form in european competition — and just at the right time. patrick gearey reports. it isa it is a rugby mystery. one of england's strongest sides struggled in continental competition. the alibi for this

un estudio de la universidad de bristol estima que el 50% de los perros entran en pÁnico tras la mÍnima los fuegos artificiales. aranza: le deseamos mucha suerte . ahora nos vamos con el resumen deportivo de la jornada dominical. >> gerardo el tata martino ya firmÓ su contrato con la selecciÓn mexicana,que lo vincula por los prÓximos cuatro aÑos al frente del tricolor. este lunes a las 11 horas, tiempo del centro de mÉxico, serÁ presentado de manera oficial ante los medios de comunicaciÓn junto con su cuerpo tÉcnico. los detalles por univisiÓn deportes. 7 de enero las chivas invitaron a partir la ross, que a partir de observar la practicante recopa mx, desatado alegrÍa en el rin dentro rojo y blanco. >>al regresar de la pausa, dos de los logos de oro llegan a roma y mÉxico y con las pala >> con las palabras "gracias familia y gracias mÉxico," alfonso encabezÓ su discurso tras recibir el primero de dos globos de oro que le otorgaron esta noche en la nÚmero 76 este galardÓn. su largometraje se llevÓ el premio a mejor pelÍcula extranjera y se llevÓ su segunda presea en la categorÍa a mejor

what the university of bristol, don't you ? what people the university of bristol, don't you? this house, front or back garden, it greets you when you come home, a reminder of the garden as you leave work in the morning, this kind of plant, which is hardy and can be grown anywhere in the british isles, is absolutely perfect. there is a volunteer doing some planting here as well. yes, there is some prostrate rosemary, of course we've had a couple of dry days, so they are flowering. we also have some alpine zuckerman, which are very, very hardy. it also is an early roses on the primrose. thank you very much for chatting to us. lots of inspiration. gardening is something hindu over the winter time. we will have a little more from the garden here in bristol a little later. first, here is the weather, news and travel information where you are this morning. good morning from bbc london news. i'm sara 0rchard. health officials in hertfordshire are being criticised for spending nearly £7000 on tickets for an award ceremony, the night before a respite centre in watford closed due to a

they are now two points ahead of manchester city after they drew at bristol today.d chelsea. one of the football story. jermain defoe hasjoined rangers on loan from bournemouth. this has been expected for a few days. the 36—year—old head to scotla nd days. the 36—year—old head to scotland on an 18 month deal. away from football, and in the rugby premiership, wasps won forever the second time in 14 matches as they beat northampton saints 27—16. this john dion try helped. also an impressive try in the second half from willie larue. this is an impressive win from wasps, who move up impressive win from wasps, who move up to sixth place and give themselves a bit of reading space. sticking with rugby, the man in charge premiership rugby has told the bbc it is right and proper to look into scrapping promotion from relegation to the championship. many promoting clubs struggle to bridge the gap in quality when they go up. ian ritchie says conversations would need to be had with the rugby football union, but denied leaving clu bs a re football union, but denied leaving clubs

the guys that win are bristol-myers. >> >> so more leverage to the smaller bio tech. >> so bristol on the announcement on that deal -- >> not so much. >> that wouldn't be a reason though for you to be invested in bio tech, the takeout. >> if you believe they're not expensive as they are which is what you believe. >> plus you want the kicker. >> right. >> for more on the biggest headlines, head to cnbc.com. i'm melissa lee, you're watching "fast money. here's what sells coming up on "fast." >> under no circumstance are you allowed to take off your blindfold. >> actually, can you take off your blindfold for this? that's better. because netflix shares are surging and now could be your best chance to buy the stock we'll explain. >>> it's been a wild ride since the market highs back in september. but the chart master says there are three stocks you can own no matter what happens next e ad "e'll give us the names and thtre,fast money" returns right after this break a luxury car to create more teched out than silicon valley? with a cockpit fit for aspaceship. hang on. radar that senses thing

bristol. lilly.hese are smart companies. >> this was in the works since october, but even then -- an all stock deal everybody participates and the potential upside from the combined company, you're not getting taken out for cash but there is a real pace of deal-making going on. >> you'll be so busy i'm sure they said, listen, we don't want to tell is. we got to move on. >> david will be much busier than usual. >> we'll see about that. a lot of -- big year ahead for m&a. we'll find out we'll get cramer's mad dash and opening bell in a minute premarket. back after a break who says our bank isn't tech enough? everyone, look at your phones. the design thinking, the digital engineering, security, blockchain, and we will be first to market! yes. when we do we launch? unfortunately, in 2 or 3, hours. why the delay? cognizant is helping banks use digital technologies at scale to advance speed to market. the aarp auto insurance program from the hartford? let's take a ride with some actual customers and find o