story thatlia is the caroline hyde has been following. both are moving higher and relates to brazil. people familiar are telling bloomberg there is an offer for the number two mobile business. what does this have to do with italian telecoms? it is telephone at -- telecom italia with it. you see that in the share price. owner announced nine-month profits this morning in line with estimates so far. what they are saying about training -- training is interesting. andlook at revenue of december. company is trying to paint a picture of something recovering a bit. it was helping to offset some of the weakness. apparently, it was pretty warm in autumn. >> freezing this morning. here are the top headlines. the u.s. stocks slide the most since october. the demand forecast drops. the nikkei and the shanghai composite drop and japanese equity markets are led by exporters after dropping the most. recovery after a a hitting a low yesterday. yearrowth will fall next to the lowest level since 2003. sayshile, the oil minister the market will correct itsel

caroline hyde is at the touch screen. >> thank you very much, guy. yeah, a little bit red on the open. flat on the ftse 100. off by .10%. what blowout numbers we saw yesterday from the united states. third quarter g.d.p. 5%. beating every single economist out there that we surveyed. 75 we got the news from. none of them thought it would go as high as 5%. clearly we're seeing the fastest growth in g.d.p. for the u.s. in more than a decade, since 2003. will that spill over to the rest of the global economy? next year, dow jones, hitting 18,000 points. a record high. stocks have been rallying since the middle of last week, since the federal reserve said don't worry about it. we'll keep interest rates near zero for at least the first quarter. all of this good news could get tongues wagging in terms of interest rates will come down. coming off that high dollar index. it has been a phenomenal performance that we have seen in the dollar index. check that out. more than 12%. clearly that is pretty phenomenal growth that we have seen in the dollar index. the

caroline hyde is here with more. ask coalition of independent ,inemas signed a position expressed their interest, got in touch. sony thought, how can we get this film out? 300 the others will be showing this film on december 25. these films have been ready and waiting to go. alamo, they are based in austin, texas. also, plaza in atlanta. atlanta police say they are aware and they are going to be monitoring the situation. the whole reason "the interview" was pulled because of cyber threats that maybe you would be in danger if you were viewing this particular film. many started to feel that we have backed down to terrorists, so suddenly we've got to change. hundreds more cinemas might be lined up for the next week as well. seth rogen, the guy who wrote the film, has spoken out on twitter, saying the people have spoken, read him has prevailed. he is saying that "the interview" will be shown at theaters willing to play it. >> talking of influences on this event. the president of the united states, before he decided to he

caroline hyde has the latest on gucci. line, some big moves at gucci. >> two top executives to go. perhaps not that much of a surprise. even though gucci as the dominant force, more than a third of their overall sales of kering group, it is the dominant force, but haven't been doing so well in asia. look at its third-quarter sales. we saw like for like drop almost 2%. heads are rolling. the ceo is to go as is the creative director. this is the biggest shakeup in more than a decade since the departure of tom ford. what is happening is, we are expecting the ceo di marco to be replaced by marco bit sorry. he was kering's luxury and leather goods head. before that, he led the jewel in the crown, the out performer in kering group. he became the head of that group in 2009. before that, he was leading the charge at stella mccartney. he knows all the brands very intimately. he's been tasked with turning around gucci. so far, the head of kering wants it as the most well-known brand. too flashy,allure, too many logos. the chinese wan

here with more is caroline hyde.get more from matt campbell on the vodafone-liberty global story. caroline, let's kick it off with you. is this the winning offer? >> we think it coulding. once again, patrick willing to splash the cash, and he's upped his offer by 5%, so 7.4 billion euros is the amount he's offering for the portuguese assets of oi. interestingly, that is going to be bigger than the offers from other private equities, but it seems as though he's gone exclusive, manage to woo them in that respect. and he upped the amount by saying, look, it includes half a billion euros in revenues related to the future of portugal telecom. this is what's so fascinating. now it allows oi to focus more in south america. it's going to be focused on potentially even more consolidation, even more deals in brazil, which is what the biggest countries or telecoms in that terms of that particular market. getting out of portugal, they're hopefully getting a wad of debt to pay down debt. this basically changes the game for oi, be

here with more is caroline hyde. the americans now want the help of the chinese.s gets more and more complicated. >> it does. china is the number one trading partner of north korea and happens to provide all the network, or the telecoms division. not many in north korea have the access to the internet. it is generally the elite and the military. they have some and it is china that might be able to provide more information to the united states. apparently, the way that sony was hacked was being routed by china, but in servers in other countries as well. i think they are making this unprecedented move to say that they will be retaliating in a measured way -- the u.s. president is saying, we will support privately held companies who are affected by cyber warfare. now, it is interesting that all the other countries are deciding to back the standing of the united states. japan saying, they are working with the u.s. closely, they support the measures being taken. in south korea, who knows a thing or two about being hacked by north korea, take a listen -- our government

let's get the details from caroline hyde. nervousness building.ially becoming a financial disaster. the so-called "guardians of the the cyber terrorists, you might call them, who gained control of the computer system at sony entertainment are now unleashing threats. the premiere of "the interview," meant to be a comedy that has and its storyline and the assassination attempt of north korean leader kim jong-un. which north korea is not finding funny. the new york premiere of "the interview" looks like it is being canceled tomorrow. so says landmark theaters. it is after threats came from hackers saying we recommend you keep yourself distant from places at that time. not only is the premier being canceled. also one of the huge cinema chains in the u.s., the fourth biggest with more than 2000 screens, they said they are not going to be showing "the interview" at all. it is not just at that show that you might avoid if you are worried about terrorist attacks. you're going to avoid the entire cinema. the other screens might be showing different films,

caroline hyde is at the touch screen. >> thank you very much, guy. the open. flat on the ftse 100. off by .10%. what blowout numbers we saw yesterday from the united states. third quarter g.d.p. 5%. beating every single economist out there that we surveyed. 75 we got the news from. none of them thought it would go as high as 5%. cleawe

gamer, you should be socializing with your family on christmas. >> caroline hyde, thank you.ne stock on the move this morning, air france, one of the biggest losers this morning after reporting passenger numbers that rose 0.4% in the month of november. the stock down 2.6 percent. you compare that to ryanair, you get the picture. a down day across much of europe. ftse 100 off by 0.3%. big gains in the docs on friday. a little bit of a reversal this morning. 22 points. by about stay with us. ♪ >> welcome back. i'm jonathan ferro live from the city of london. it is almost over for us. guy johnson joint us now. welcome back. to work. >> [laughter] nice to see you. excellent. good to be here. we have greece on the agenda today. beuspect 2015 is going to greece back on the agenda. today we talk about an extension. they are trying to get the last bit of the previous bailout done. they need an extension. what this may end up doing is, undermining the current administration, we could see snap general elections as early as january-february. he then i on greece. this is one of those sto

for more on the return to the mobile market, caroline hyde. guess the big thing we want to know is how much have they got to pay? >> 12 and a half million pounds. bp itself is only worth three times that. clearly they are willing to step up the cash. they are paying eight times of of 26nings to get hold million customers. it is the uk's biggest mobile network. remember, it is that for your and dutch telecom orange andr venture dutch telecom put together. focusing onabout the future. keep talking about it. what is it? it is offering not only broadband, tv, landline, but also offering mobile on top of that. they will create the biggest player in the whole of the united kingdom by getting its hands on ee. how do they structure this deal? they are paying cash and stock. they don't want to ramp up the debt. it is relatively near that sub investment-grade rating. it is not the most stable in terms of debt ratings. they are not just the highest of the high. they want to keep the debt relatively low. how do they do that? they hand out shares to deutsc

caroline hyde with the latest on that portuguese telecom story. one of many we have been talking about. >> join us on twitter. follow danny, follow anna, follow me. tell us what you think about what danny is saying. go one. >> or whatever else. to follow us all on twitter. give us your twitter handle. >> today's company news, very quickly. a $1.2 billion round of equity funding to boost international expansion for uber. that gives the company a $40 billion valuation. and half billion dollars in funding since its debut in 2009. the chief executive says the company is in nature menace growth period and could create more than a million jobs worldwide next year. >> capital levels exceeded requirements. 9.2%ommon equity ratio was , which is above the 7% required by the portuguese central bank and 8% required by the ecb. a lenderes how well can install losses. they were once the biggest lender by market value. the central bank moved most of this assets. " the bank scrapped a shareholder vote on bonuses after signaling they might fail the stress test. af

here with more is caroline hyde. could we find out this deal today?dy was talking about it last week. i was waiting this morning. it did not come. >> it could come as soon as today. i'm looking at this like a marriage at the moment. as the moree beautiful bride. she has far bigger customer base. they also been dating in the past. ee has been selling bt's broadband services and bt is selling some mobile offerings via ee. they have already been getting up the heat. but they've got a difficult family. has orange and digital telecom together. do you want to be negotiating with twop separate players -- two separate players? if orange would get out of the whole deal entirely, deutsche telekom would keep 50% of any deal they strike. , this are looking at o2 is a far easier relationship. one parent, telefonica. telefonica wants to offload o2 because they want to get into brazil. if they do indeed take on o2, it is full circle. to telefonica and now they are looking to buy it back. going to take your marriage analogy and extended. ring, how big will this price

now, three stocks to watch with caroline hyde. >> one of the german stocks popping higher this morningtive news coming from the german factory orders this morning. positive news coming from goldman sachs for this stock, united internet. currently up almost 4%. this stock., buy it is an internet provider in germany and they say the market share can continue to grow. strong volume growth on smartphone use in germany. pete an eye on united internet. keep an eye on the property market in the united kingdom. having had the news on stamp duty overhaul, berkley group up almost 4%. 55% uptick in profit. their first half looks strong. they say there is a returning to normal market in the u.k. with good underlying demand. please, keep things consistent. they are worried about uncertainty after the elections. to seest want consistency, particularly when it comes to property tax. beatty, british builder, the biggest british builder. once again, just batting their hand away from any approaches. they say, look, it is worth more than one billion pounds even though that is what we valued it at ourselv

specific nowck with caroline hyde. >> looking at oil but also the m&a this morning.e actually seeing a few stocks on the rise. top of the leaderboard, balfour beatty. not often that you see balfour beatty winning, but it is only up because we are selling some assets. it could be one billion pounds itsash, uploading public-private partnerships. tocould be selling that over john lang infrastructure fund. 5%.while, altus up again, it is m&a driving it higher. this time it is the buyer. why the shares going up? people like the idea that it is eyeing up other assets in portugal. they did by sfr's unit earlier. time, smaller amount, 7 ,illion euros, just in excess putting it ahead of a rival bid from bain. we could clt's expanding in europe and investors seem to like it. majorsdownside, the oil are all falling. the worst performer is tullow oil. we are seeing prices down once again. worries that opec not doing anything in terms of production, we are going to keep on seeing that a lot. on the demand side of things, you have worries that the u.s. aren't splashing the cash so

here with more is caroline hyde. the u.s.g help from china. >> china is north korea's number one trading partner. very few people have access to the internet in north korea. the elite do and some military services. clearly, they feel they can hopefully find out more if china was indeed to help give some more data on what the practices were. when it comes to this retaliation that obama has teresting in precedent being set. clearly, it is going to be a measured response. what they't decided will work towards helping. they are going to china for help, but also japan, thailand, bolivia. >> regarding this case, our nation is coordinating closely with the united states. we support the measures taken by the and added states in this regard. cyber attacks are a serious problem related to our nation. we strongly criticized the hack. ,> japan is working closely south korea is working closely with the united states. >> are they going to release this film or not? >> sony is saying they will distribute it. >> thanks, caroline. stay with us

joins us asltzman does my colleague caroline hyde.ss of making people stand out. you know when they do. who stood out last night? >> so many. everybody was there. the most exciting moment was when people got to see fashion and film or young designers or old designers. having john galliano there and having naomi and kate, all of the first name people that you have heard of. it was great to see some young designers. fashionell is the industry shining a light on itself? then they hit the nail on the head? rihanna was there. >> i don't think it was hitting the nail on the head just yet. i think they are just beginning. they are creating the structure and showing what it's like from a store's perspective, from retail's perspective. i think that british fashion up ineally been on the the business sense. that is the exciting thing. >> i get excited about the fashion. the connection of the fashion and the business seems to be the missing link. now it is being made. >> it is been the missing link in this country. there were rules against it. w

our european business correspondent, caroline hyde.eo telling me that a merger with len co. would not be a good fit. i will bring you that interview after this break. ♪ >> welcome back. you are watching "the pulse. live from bloomberg's european headquarters in london. french and will be back monday -- francine lacqua will be back monday. german factory orders thgrea 2.5%. showing signs that europe's largest economy is starting to recover. as the bundesbank cut growth rates. protesters in cities across the a grand jury's decision not to indict a white new york police officer videotaped a black suspect in a choke hold. , later, eric garner died. not that will make another attempt to launch its orion spacecraft. show favorable weather conditions. will beat nasa's first manned program since the space shuttle in 1981. let me show you what euro-dollar looks like. a situation where we have a little bit of a recovery for the dollar. the euro spiking during pressday's draghi conference. 1.2363. there was an expectation we would hear more posit

caroline hyde will take you through the story. standard chartered down this morning. they will remain under investigation from the u.s. regulators on site for another three years. there is more new information that they may have been unlawfully processing dollar transactions. this is a risk. this is a risk for them that falls more issues. i can only talk for so long. you can come back to this. these are the two greek strauch's -- stocks, biggest drops in greek stocks since 1987. the point is whether you believe there is a momentum behind a seeding to power and what that might have an impact to the debt, or something that they will talk about, but nothing once to say it, but what is the statistical possibility of greece leaving europe? back to you, john. >> we are waiting for greek stocks to open, but let's get erday,o that move yest the greek equity market down 12%. we did not see that even when it was on the brink. biggest drop since 1987. our next guest has not just downgrade his look of growth in europe, he is downgraded political leadership at all. he is wayne bar

caroline hyde is here with more. what may or may not happen. >> they are pulling the film. threatsof the escalating from the cyber attackers, it seems they have been bringing down the computer system and launching threats. remember september the 11th and keep yourself distanced from places. cinemas meant the change. is it in our interest to do it? some of the biggest change. understand -- will do the same. sony has decided not to move forward with the release of the film. interestingly, putting on the brakes. >> a little brutal for the people who made it all stop this is embarrassed -- who made it. this is brutal for sony. >> we knew they were upset by this. moviethe crippling of the computers and the leaked e-mails. the imbalances in pay between male and female executives showed up. we had angelina jolie called a spoiled brat. this has been around as. million making this film and this will cost them hundreds of millions of dollars. what is more interesting is how the u.s. is going to react and i am reading interesting blog. hackers withther political motives and aggravatio

joining is a caroline hyde.e problem with the playstation 4 smart >> it seemed to happen midnight u.k. time until 2:00. get onto the playstation network to play games online. connection problems lasted about that time. they said everything is back up and running. they are investigated root cause of but this seems to be a cyberattacks. the people taking credit is the lizard squad. #lizardsquad. they claimed it on twitter and prevent you from locking on -- logging on. a bit of a pr problem. even though it is not sony pictures which was attacked by a group related to north korea and the fact we have the interview they are not finding it funny at all. that is related. tie station also been hit by cyberattacks as well. -- playstation also being hit by cyberattacks as well. >> microsoft is under pressure and it seems like a buildup of something larger. >> exactly. lizard squad have claimed it could get even worse. dose ofd is a small what is to come on christmas. clearly, they will be revving up. microsoft's xbox has

caroline hyde joins me now. we're talking big multinationals.overnment is about to unveil details about what some call a google tax. a diverted profits tax. it has been dubbed the google tax, but it could be dubbed the starbucks tax. multinationals based in the united kingdom that through certain strategies, certain ways of structuring their tax, they managed to pay much lower corporate tax and perhaps the other ones on profits earned here in the u.k.. it has been hacking george osborne off. he is looking at the draft legislation today that will come with a finance bill about 11:00 a.m. you'll understand what the rules are that they want to impose and will become active, april 2015. what we know already from the statement is there likely to levy a 25% tax rate on any of these profits that aren't earned them uganda currently perhaps get siphoned off by ireland or some of their tax havens -- some other tax havens. interesting that the 25% because the corporate tax rate in the u.k. is going to be lowered to 20% next year. hopefully -- it is a bit o

let's get to caroline hyde.lping u.s., but it looks as though the warm winds from asia aren't going to flow to europe. we are expecting another down day. barclays calls it oil lead to volatility. check out the fix. it's going to be the worst week in two months. we see the ftse 100

if you want to know what caroline hyde had to say at the red carpet join us on twitter. you can join the rest of us on twitter. @mannuscranny. @annaedwards. >> a blow the day before campaigning begins and what is japan's downgrade mean for the world's third economy as well as are nextprospects guest from the bank of tokyo is in the building. ♪ >> time for today's company news. that led to the 787 dream meyer last year was caused by inadequate design and testing . that is the verdict of the international transportation and safety board. boeing said the overheating and one cell of the battery could not spread to others and in the thert the ntsb blamed kumbaya for not anticipating the ways it might fail. company gaveiggest most of it back by the end of trading but the slump rippled through the tech stocks in the retreat comes a week after the market value goes against -- above $700 billion. apple's share of the pie more than doubled in the past three years. lewis will take direct responsibility for the u.k. business. tesco trying to recover from a fallout on its overstated

caroline hyde has the story. a fairly dramatic turn of events here.hey decided they can't take the risk and they are doing what some would say is the right thing and pulling it. >> unprecedented. they are going to be losing millions of dollars by doing this. not only were they attacked in terms of their computer systems, but the attacks took on another level. i think you could call them cyber terrorists now. they started harkening back to september 11, putting out statements that the world will recommendingar and people distance themselves from where these films are being showed. saying, do were want to be showing this film? it is a comedy, which is based on a plot to assassinate kim jong-un of north korea. amc putting out a statement saying, we are not going to show it. sony itself saying, we have decided not to move forward with a plan to release on december 25. all of this had had to come to a standstill. >> some say they should release it on a web. free and that for -- >> they might be concerned with retaliation. >> i think the retaliation has alr

for more on the open, caroline hyde at the touchscreen.ling past six-year high on european stocks? looks as though the appetite for risk is there this morning.

here with more is caroline hyde.theyng, it looks are continuing the tragic -- strategy. >> they are downsizing internationally. japan is where it is being felt. some 200 staff have been cut. they will have bare bones when it comes the fixed income trading. they are no longer going to be a dealer. they will be dealing in japanese government bonds in terms of a primary dealership. there has been underperformance because they were attempting to manipulate the benchmark rates. pry took a hit in terms of and lost their main executive. we found out they will meet with the financial services agency's to disclose their plans and they will be inferring -- informing clients next week. >> it is not the only bank, is it? >> it is not. deutsche bank as well is also scaling back. recent talk about this all the time. government bonds -- >> the right page on bloomberg. >> this is a derivative that you can use to protect yourself. keep with the program. 10 traders in london are losing their jobs. they are being moved on. it was annou

caroline hyde is here with more. how reliable is the north korean internet?etty patchy at best. somecould be happening is if itf cyber attack, but is the united states government reaping its revenge, it's pretty school board. that is my technical expertise. talking ton technical experts, and it seems there was an outage lasting about 10 hours. this has never happened before. this is not normal. the networks have been saying what they think this comes down to is relatively simple distributed denial of service attacks. a sickly somebody could have -- beenlly be flooding flooding the network, and it brings down the infrastructure of internet provisions. it's unlikely to have been , becauseut by the u.s. they feel any hacker could have done this. it could have cost $200 to do this kind of damage. you have got to remember what korea has very little internet. it has four official networks provided by china. the u.s. has 152,000 networks. they just have four. if you are going to try to take any cyberattacks i north korea offline in the future, many believe it is off

for more on the open, caroline hyde at the touchscreen. thatuld we go sailing past six-year high on european stocks? looks as though the appetite for risk is there this morning. let's see how we are opening up across the board. germany up 0.3%. ftse, similar. pretty flat in france. it all focuses on central banks. saying, draghi is throwing everything he can despite printing monday in his bedroom. will he get the sign off for full on quantitative easing? we want to see whether that will be in the pipeline. that is what is making people buy stocks. let's have a look at what it is doing to the rest of europe. we have bank of england coming out. the biooe decision. 12:45 is the ecb decision. in the moment, we are seeing british pound pretty flat. 1.5694. let's have a look at the euro. we are getting the euro pushing lower against the dollar on that hope that we will see yet more stimulus. that will be a boost to exporters if we start to see the euro trading lower. at the moment, ftse staying unchanged. 1.23 a seven is where we are at. is wher

here with more is caroline hyde. let's start with bt. it has set the cat among the pigeons. >> it has. we understand it is looking at 02, getting a grip on mobile. it is about quad play. this is the choice of words we use when it comes to telecoms. you have to have all four things if you want to win it. it offers television. rather nice soccer rights. it now wants to offer mobile as well. the u.k. is bizarre. we don't often have all four things rolled into one. we like to pick and choose. the way you can make money, the way you can have synergy and stop people moving to rivals is having all four things. is considering teaming up with its old rival, liberty global. remember, they used to battle over assets in germany. he were trying to get their hands on that asset. now they could combine and make $130 billion company. we know the deal hasn't been done yet. they are thinking whether it would work, whether financially it would work. wouldhether regulation allow those juggernauts to come together in this way. >> it is also a question of whe

here with more is caroline hyde. they are shutting the new site down in spain. why?new law has been passed in spain that publishers can charge news aggregators such as google. google goes as far to say that they have to charge aggregators such as google if they reproduce their own content. news, which is currently in seven international editions, 35 different languages, are going to shut google news in spain. google executives met with spanish officials because they knew this law was being debated. they said, if it passes, we are going to shut it down. they stood by their word. they are going to exit this business. it is no longer going to be available in spain. the head of google news putting that out on the blog. >> so what is the future story here? google are reacting, saying they've got to do this, saying they will probably review it area but what happens next? >> i think they are trying to put out fires. they put out -- there is an interesting blog that the head of google news has written. he pulls on the heartstrings here, trying to make out, we are the good gu

for more on the keys return, caroline hyde. what is the price on this? >> 12.5 billion pounds.iggest u.k. mobile operator in the you take. the venture they have built up ee is potentially going to the, --after talks -- the, --.com become bp after toast. building the biggest court player. able to sell the tv and broadband and landline. that's a positive move. we will see how this deal is structured and how we understand deutsche telekom and the entire company going forward. we will be able to appoint directors and get cash. and a gets even more cash 40% stake. an interesting moving coming forward. >> caroline, thank you so much. consolidation in the sector. to the bank of england. >> we have discovered the ideal of mark carney. >> some of the differences across throughout the financial sector. the bank will undertake further work to exploit in more depth but to underscore the benefit of judging capital adequacy against a leverage acquirement in addition to recent days capital ratios in future years and stress test. to conclude thomas is the crisis, authorities have been working

caroline hyde is more. yesterday, the premier was canceled.t going to be releasing it at all. you can understand why. it started with a cyber attack. the threats have become more vicious and terrorist like. starting to cite september the 11th. a understand the terrorist, named so far, we recommend you keep yourselves distant. unsurprisingly, suddenly a lot amc, putnema chains, out statement saying, we will not show the film. regal entertainment, the number one chain, is understood to be pulling it also. sony has said, we have decided that to move forward with the planned unveiling of the film on december 25. we have -- respect and understand our partners. they say, the safety of theatergoers and employees is paramount. the terrorists have got their way. they have one. -- won. from a public relations point of view, sony is having one blow after another. angelina jolie. it has been a litany of disasters. >> there will be a film made about the making of this film. you cannot script it. it has been a phenomenal disaster. didune, we know north kore

let's get the market open from caroline hyde. >> thank you very much.t slides further. not by much. expecting a fourth day of decline when it comes to european stocks. and oil isy concern in freefall. saying the prices are going to fall further.

your with more on the outlook for the airlines is caroline hyde.eard strike, excuse the pun. -- third strike. >> now one billion euros less than it was at the beginning of this year after three profit revisions. you said it. it's all to do with the strikes, the worst in their history having to upgrade again how much this will cost them, that two week strike back in september when the pilots walked out. they've also had poor sales in the long haul. they've also blamed the pension cost adjustment. there were going to have a positive pension adjust them, but that will not come through either. in limited full prices -- fuel rices, they will not get that warm breeze just yet. air france is continuing to have a dire situation that they are pushing back the delivery of some of their own aircrafts. they were set to receive 10 knowing -- boeing wide body jets. luckily they do not need fuel efficiency with oil prices falling. that's the only silver lining. they need to reduce their costs. meanwhile, the rest of the industry is doing really well. the internat

caroline hyde is here. is an outage in north korea a regular event? >> not this sort of event.has been deemed by experts not normal. they say they haven't seen anything like this before. it was close to 10 hours. the actual outage. this is according to research. however shaky at best is what north korea's internet connection can be. surprising when you have four official networks in your country provide you go the internet. all of them through china. four compared to 152,000 that run into the united states. clearly we know that north korea is generally by and large not connected to the internet. when you're digging into this particular event, it is one of those points of course that we suddenly all eyes on north korea and learn the -- shine the spotlight on it. they have a bit of an internet problem. it seems like it could be linked to an attack. the jury is out on whether the united states has anything to do with it. one particular expert said it looks to be a relatively simple denial of service attack. you flood the network traffic and it takes down infrastructure. now it sud

. >> caroline hyde is there with the latest on sony. filmscould see similar targeting common the. >> there was one year where vladimir putin was on the front goodand it was not all things and they disappeared. >> they never arrived. >> let's look at the details we have been announcing in the last few minutes. he is calling for harsh measures for -- he is not specifying what the harsh measures are. they are going to be harsh. started out byin talking about his political againstnd the sanctions russia. now, he is talking about the economy and the ruble. >> he is talking in depth about the economy and it is interesting. what does he mean by that? amnesty and for an said that if the money comes back, it should not be subject to penalties. he is calling for fixing taxes. becauselling for things he has good control over the political system. these are things we will see happen. he is calling for a moratorium and controls on checks of businesses. he wants to give business more bureaucrats,state the source of much of the corruption. we are gett

let's talk to caroline hyde. no immediate sign of respite if you are long oil? >> precisely.s for today. down more than 10% now for w.t.i., the american contract and 9% at the european contract, brent. keeps ongoing. the international agency cutting their forecast by a quarter of a million barrelses per day saying you'll see demand increasing by 900,000 barrels per day. sounds like a lot. the fourth time out of five they have had to cut their overall demand prospects. supplies keep ramping u. not only do we have the united states pumping out shale oil and gas. you have opec not cutting production which capitalized the selloff and now talk of a price war going on between the likes f saudi arabia, iraq, saying they are going to enhance their discounting to asia. that puts more pressure on the price. most analysts think next week, more falls, that will be the 11th week we see prices declining. the head of iran, the oil ministry there thinks we could hit $40 per barrel. we could sink even further. we're already off more than 40%. the c.e.o. said we're going to stick around this l

that looks like caroline hyde. we will be talking to a ceo, coming up later as well.redibleny facing a competition from google and amazon. how does he differentiate? are we seeing the diversions with in cloud computing? a political perspective on all of this in the tech sector. be joining us. she could be running for the mayor of london. how will she change the taxing if she were to --tech scene issuer to the mayor? please give us your answers to this question -- do you trust the cloud with your data? do you understand the risk and you are running if you do? let us know. join us on twitter. that is the question for the day. europe's qe as economy falters. sovereign qe seems to be imminent. better late than never or a little too late? we will get an site into mario draghi's next move. a couple of exclusive interviews. pulse."p on "the ♪ >> good morning. welcome back everybody. the markets this morning. let's show you what has been going on. emerging markets are being hit overnight. dubai,i off 5% per year 5%. athens, absolutely pummeled samaras after called a snap pres

let's get the market open with caroline hyde. >> we had the worst six-day drop .n european stocks sinceown about 8% in the last six days. any kind of rebound? we're already trading up in france. the hope is amid all this bad data, will we start to see stimulus come through?

here with more is caroline hyde. the president talked about a proportional response.n we expect? >> measured, is the phrase he used. it is going to be unlikely that we see any sort of tit-for-tat coming fromr attack the likes of the united states versus north korea, largely because north korea which still says it had nothing to do with this attack on sony has said that if there was any sort of marked action by obama in this bring 1000ey would times greater damage to the u.s. they would target the white house, the pentagon. clearly, they don't want to escalate this any further. perhaps more likely is to try to cut off access to cash which some of the elite currently hold in macau and china. obama does seem to be talking to the chinese, talking in fact to thailand, singapore, bolivia, countries where it would seem this hack attack went via servers. they are talking to the rest of the world. the rest of the world seem to be backing this unprecedented move by the united states to support privately held companies when cyber attacks occur. rules of thetten road that suddenl