back to you. >> caroline hyde is finishing in the low. athens stock exchange is warming up and a lot of people expected to open lower. brussels and the breakdown in brussels yesterday evening. the stocks collapsed and there is bailout fatigue. seemingly no end in sight. thank you for joining us this morning. as we go towards the end of the month, what you consider the main issue to be after the collapse of talks yesterday. >> the mate issue that everybody recognizes is that the ball is in greece's court. the hope is that the greece authorities will have the insurance program. the first one has to do with the rhetoric of the greek government and no bail extension is to be accepted. the second issue in question is the main problem for me. it is facing serious time constraints. if no compromise is done this week, by the end of february, there will be a hard problem down the road. greece will face credit issues within march and, by the end of the month, a very much extension question whether they will want to stay in the euro or not. the comm

let's bring in caroline hyde. us through the big headlines coming out of centrica and what is really making life difficult for this company. caroline: double whammy of slumping oil prices and a rather too warm 2014, which meant we didn't need to rack on our heating quite as much. this is the biggest supplier of energy in the u.k. it owned british gas. suddenly, we are seeing a net loss of one billion pounds. they are having today huge write-downs. right down to the tune of 1.4 billion pounds. you've got nymex crude oil slumping 51% as you see on your screen. this is a company in problems. they brought earnings per share down 28%. the gas prices, but also having to make big cuts not only to capital expenditures they are slashing that by 40%, they are also slashing their dividend by 30%. they say the final dividend will be rebasing by 30%. to add to that, there's a strategic review. this is a new chief executive taking over. mr. khan joining back in january from bp. he's got so much on his plate. is any of this goin

let's get out the caroline hyde. tech valuations, that is the story. they just get bigger and bigger. >> when you compare it to 2013 when facebook was reported to have approached snapchat for $3 billion, last year it was ranked at $10 billion. now, a valuation of $19 billion. that is bigger than fiat, bigger than publicis. this company is on a tear in terms of valuation as it tries to raise a bit more money. they are looking for half $1 billion to continue to grow. this now ranks it the third biggest venture capital backed firm out there at the moment. it is only behind uber the car booking up and a chinese smartphone maker. the third biggest vc-backed company out there. what is pumping up this valuation? look at how many people are using this. one in three iphone owners in the u.s. have this app. they are sending 700 million of these disappearing photos and videos are day, jon. now, we are starting to see how the company visualizes monetizing snapchat. they are showing adverts. disappearing adverts are starting to be seen that you can opt out of. it i

herewith a look ahead to explain, caroline hyde.at prompted the difficulty. >> a lot of difficulties. a myriad of issues. if you listen to the chief executive the entire world was turning more difficult in terms of economic situations. defense spending. rolls-royce is not the luxury carmaker, the engine maker for airplanes. for military purposes. also, skin in the game when it comes to ships. nuclear reactors that go in submarines. that area was rained back in particular. the impact of sanctions from russia. about 1% of revenue is from russia. the block on diesel engine experts in particular hit numbers. they had not one but two profit warnings. that drove shares down by a third overall. we are respecting the first drop in sales for a decade at a decade at rolls-royce. expecting profit to drop. the targets do not look pretty. after perhaps these two dire profit warnings, we are not expecting things to look much prettier next year. the new cfo breathing new life into the company. job cuts. we cannot control the external environment.

you can also tweak caroline hyde.n just a minute talking about interest-rate. ♪ >> welcome back to the pulse, live from bloomberg european headquarters here in --. >> greece has retreated or a write-down of its debt. the finance minister has outlined a new proposal for a debt swap. he told a group of financiers that they are wanting to exist existing borrowing for a new bond linked to the country's growth. they continue their european tour. they meet in italy. they will be in rome and meeting with renzi. >> the bank is considering widening the van in which it's allowed to fluctuate. it is now subject to 2% divergence on either side of the daily reference rate. >> australia's central bank has cut its key interest rate. they join other countries in e-zine policy. it's only february. three weeks after their own cuts, india left it rate unchanged. you have a budget coming up that may have constrained his hand a little bit. markets. it should we do the markets? >> we have some interesting moves. jonathan ferro has the late

across are the countries in a series of raids over the course of several years, and joining us is caroline hydeine, good morning. it is being called unprecedented cyber robbery. is that fair? >> i think it is because of the scale of institutions hit this. we understand as many as 100 banks and financial institutions. this is all being gathered together by a company, a data company that has antivirus software. they are a russian company, and they work with interpol and others to uncover this plot. as i said, it cost 100 institutions across 30 countries, the u.s., china, europe, and since 2013, they have been stealing at each bank about $10 million which is the maximum they have been able to do, and the gang behind it russia, china, ukraine and other parts of europe. >> working with the machines and we have seen videotape. how did they actually do it? >> they have been doing it since 2013. what they have done is they actually infected bank employee computers with this particular malicious software done by this gang, and they spread within the internal net >> -- networks. the people who worked the

caroline hyde joins me now they finally confirmed the deal. line: a lovely quote on twitter saying, the end of the foreplay, now let's talk about quad play. they want to be able to open mobile as well as tv and landline. that is worth 12.5 billion pounds. there could be some regulatory issues. we are ready have the ceo of vodafone saying competition is the market authority, it will need clearance but we think this will go through because the number one player -- the way they will do this is they will be funding it with debt and one billion pound share placement. interesting they are inching higher. nevertheless, the winners intra-this are deutsche telekom -- the winners in this are deutsche telekom. they are keeping 12% in the enlarged bt and cash from the orange defense player who wants 3.4 billion pounds in cash. but this dealmaking is rife. we have patterson saying this is a world-class digital infrastructure. jonathan: can we expect more? caroline: we still have players to come. bt plus ee, it is eyeing up 02, could it by telefonica's 02 un

joining me now is caroline hyde. a strike. what is going on?we have a nine sites that are striking, 10% of all of the fuel produced in the united states area it is driving the price of gasoline and diesel higher because people are worried about production slowing. this glut of oil we are seeing a largely in the united states from show production all of this excess oil with a nowhere to go. where is it going to go? oil prices falling in terms of the wti contract. mixed reaction in terms of pricing. this is 10% of production being affected in the u.s. it could get as high as 64% if we do see all of the united steelworkers union refineries the terminals, the pipelines, if they all get hit by this strike action, we could see 64% hit. it looks like more strikes could be called. more refineries are thinking about standing up and taking this position because they are not getting anywhere in their contract negotiations. shell negotiates on behalf of and they are locking heads. five contracts have been offered up and rejected. what do they want? better

caroline hyde joins us. if you look at the breakdown gucci has been down.'s -- brands are doing well. >> yves saint laurent is killing it for them. that was a real ray of light. they are still cooling slightly. gucci is not quite as stellar as it has been in the pass. gucci is the cash cow. it is where the bulk of revenue comes from. it has been hurt in china and has been losing the consistency of products, losing its sexiness in terms of what tom ford has brought to the name. the performance has been down. there was a notable improvement in the final three months. we are suddenly seeing freshness being injected. a new chief executive. he is going to be taking the helm and trying to drive gucci forward trying to continue to improve. they have a new creative director as well. they promoted him from within. they need to inject the newness and consistency that analysts want to see. it is interesting to see where they are doing well and where they are trying to distance themselves. they are doing well in the united states doing well in japan. they are trying to

with more, caroline hyde.eing called an us -- unprecedented robbery. >> how on earth has it been going on since 2013? it has been put in to the public domain up russian antivirus software. they have said they are working with interpol, europe whole and of authorities to uncover this plot, a gang called+++ and they work for russia to ukraine and other parts of europe and have managed to steal up to $1 billion and raided banks, e payment systems. this is happening in the united states, china, europe since 2013. they were able to take away up to $10 million per time in the raids. quite how did they tack the institute -- >> how did they attack the institutions? >> they infiltrated bank workers' computers and allows them to mimic employees' activities and take an pocket of the extra funds. most amazing flick deborah able to take control, seize control of atm -- most amazingly, they were able to take control, seize control of atm's. they saw this happening. they were not present any buttons. they had other banks app

here with an update at one of the egg is retailers is caroline hyde for they promise to become clearer it is seeing reported in the telegraph that we could see 10,000 jobs going and the promises set out in the strategies last month said that they were going to be cutting costs. how do you do that without making drastic cuts? it sounds like a lot. it is only about 2% of the workforce. we understand that asked thousand of the job cuts would come in the head office. another 4000 seem to be coming with how the company runs there stores. the role currently exists between the store manager and shop assistant. we do not know if the people would have alternative roles and if there would be other pay levels. that has yet to become clear. what is clear is that the man named dave had to reduce the product and is having to wield the ax again. meanwhile, they are in the hunt for a new chairman. a former chairman could be one that they are after. the cost cuts they are having are coming. >> thank you. that is almost it. we turn the focus to what is coming up for the rest of the day. brussels is in f

let's check with caroline hyde for the open. >> just 20 seconds into market trade. it's green across the board. ftse 100 similarly trading up 4/10 of a percent. yesterday it was all about the relief of the cease-fire. hope there could be meeting -- moves made driving equities higher. the imf saying they will be behind ukraine for another four years in terms of an assistance program. maybe some hints germany will give a little bit to greece. barclays says we have to put it in perspective. the cease-fire is only the first step on a likely long bumpy road towards a resolution of the conflict. it is all about gdp data. we are getting eurozone data. germany well ahead. that is why we are seeing the dax up 3/10 of a percent. let's have a look at what happened to the euro. they seem to be liking that germany is accelerating. france is not so pretty. it didn't come into where expectations were. the euro up three straight days now. three days of gains. the longest winning streak we have seen in two months. let's have a quick check on some of the stocks to watch. l'oreal high

caroline hyde. >> we know the former co-ceo bill winters, is coming back.has set up an asset manager. now he moves back to standard chartered for 1.5 million pounds annual salary and compensating for his losses. overall, bill winters will become the new ceo for the an announcement has just come. the current is stepping down. winters will be stepping in june. a cut in the board. they are trying to cut from their half at the moment. three long-standing members of the board will step down including the chairman. he will go in 2016. the key news is, bill winter was formerly co-ceo of stanley is coming back and will be the chief executive. >> his base salary is 1.5 million pounds. >> i said billion, my apologies. >> in ubs and the talk. seven consecutive annual loss. >> the seo waving his one million extra share. -- the ceo waiving his $1 million extra share. incentive share. we got the annual loss. 3.5 billion euro loss. as a took a mighty charge related to the united states citizens and business. it is a company slimming down. restructuring of rbs going forwar

let's get to caroline hyde.r the details of the release. >> it looks like it is coming in banging with the way analyst estimating. we have sales for six months. 4.3 billion pounds. that is up 17%. you are looking at operating profit down by 2%. earnings for interest, tax, depression and amityization did rise coming in the 72 million pounds. this is a company that is showing clear growth in terms of sales, up 17%. on an adjusted basis, you are seeing them climb 5% overall. this is for the first half the year. these are strong financial results. if you are looking at the adjusted basis, operating up about 16%. they say they have significant outperformance in u.k. and ireland. sky dominates pay tv in the u.k. it is ramping up in europe. it has taken over sky deutsche lappeds and sky-italia. he wants it to become a juggernaut and it is the second biggest in europe. they have 204,000 new customers. they say that is our highest growth in nine years. >> wow. >> their dividend is interestingly up just a little bit, only

let's bring in caroline hyde.is huge because it net neutrality means broadband says if you are netflix or you have your own webpage i am not going to put one forward over another in exchange for payment. caroline: it is huge. it is strict. the fcc has come down saying web traffic should be treated equally. if you are netflix, you should not be buffered if you are running through a cable tv provider, equally if you are trying to use skype, they should not make your skype caller slower. that is the idea to prohibit internet companies providers from making that difficult. also preventing them from a two-tier solution. raging a decade, this argument. 4 million people have been going to the fcc with their opinions. this will protect innovation, a level playing field. >> more than anything else, this is a victory for the people against the big people, the suppliers who have the power and the wealth. they feel hopeless and helpless. i see it -- communication that people can sometimes when. once in a while, we get a win.

caroline hyde with us as well. last 12 months we have talked about licensing growth and when that was going to translate into royalty growth. your company said you are going to get 15% growth. we waited patiently. here we are. you went up 16% on royalties, 30% on licensing. i will shut up and let u.s. of the question. could you be that 15%? when i look at the -- i will let you answer the question. could you beat that 15%? >> most of the licensing we did in 2014 will translate to royalty in some years. it is the pipeline we have built up the last few years that we expect to see in 2015 at 2016. i think the trends are very good for us. we will see more adoption of our neighbor architecture. also the comparison years on year, it has been easier because of what happened in 2014. >> do you consider that 15% a bottom line for the growth? >> that is where our midterm guidances for royalty growth. from one quarter to next, it can be up and down. what happens in consumer spending habits, consumer economy, we have no control

s biggest housebuilder, caroline hyde is here with the preview. a strong year for all the builders -- is that what we can expect? >> they gave us a hint of how they had done back in january saying 23% -- they had these warm winds blowing. they saw market increase. home sales are up 17%, shifting more than 13,000 houses. a very strong year -- good demand across the united kingdom . the main constraint was expecting net incomes of profits to jump. >> what about the housing market as a whole? are things cooling? >> you have to put into perspective because we are getting a mixed picture. we have some people saying we are expecting prices to fall in 2015. not a huge amounts, but fall. the concerns are felt back in november -- the words used by the british banking association -- a sharp chill in the housing market in terms of mortgage applications. they suddenly saw a cooling in the housing market. mainly because it is the bank of england -- the bank of england was getting what it wished for a calming down in the market. what they wanted to see was mort

caroline hyde. caroline, everybody has been sinking about who will take the job winters has been a perennial for every bank to be the next boss. you wonder why this one. >> they say in a statement that he is a globally respected banker and he has the right skills to drive it and conduct. standard chartered has seen a series of scandals notably sanctions violations. this is why bill winters is coming in as a new ceo. he was really co-ceo of jpmorgan and went to set up his own asset class in 2011. there you see it. on the biggest independent commission on banking. a man who knows regulation, a man who knows response to the new working environment. every single tank these to be negotiating. -- every single bank needs to be negotiating. the logs ever serving ceo in u.k. history since -- the longest serving ceo in u.k. history. he almost tripled the assets to $90 billion. very focused on asia in recent years since taking a tonal and hit by falling profits and a series of scandals. a new man at the helm an

for now, let's get stock specific with caroline hyde. roline: i am going to kick off with a bank that is huge exposure to russia and ukraine. the first loss on the back of that turmoil last year but now people are seeing the optimism. the second rig bank in eastern europe and they are saying we will curb our russian business. there seems to be a silver lining surrounding that dark cloud. so rife eisen -- raiffeisen turning up. this is a company that is really backing the emerging markets. the problem is, those markets are starting to cool down. they are also feeling the vulnerability to foreign exchange issues at the moment. when they got the euro starting to weaken the got volatility elsewhere. even though you have lower material cost going down, that is not enough to make sure that profits are picking up. another big fall are today is hugo boss. he issued calling, this is the private equity comity that took up a majority stake in 2007. the last couple years they have been unwinding that majority stake and once again they sell down there

let's get more on this with caroline hyde. are about to approach a level on the ftse 100 we last saw in 1999. the height of the dot-com boom. this fits with that narrative as well. caroline: it does indeed. venture capitalists pumping almost $15 million into tech companies last year. the comedies are now being valued at stupendous amounts of money. cross your mind back to 2013. mark zuckerberg went to the founder of snapchat and said, i'll give you $3 billion for the company. two years later, $19 billion is the valuation. it is the third most valuable venture-backed company out there. it is only behind the likes of uber and a smart phone maker in china, both of which are in the $40 billion amount. clearly, this sort of valuation is phenomenal. last year, it was $10 billion. the fact that it is bigger than fiat ryanair, is quite phenomenal. the reason we know they are valuing themselves at $19 billion is because they are on the hunt for more money. francine: when you look at the valuation, there is a great article on bloomberg b

a nice round up from caroline hyde. in throughout the morning. >> see tomorrow. "on the move" is next. big news today. ♪ jonathan: good morning and welcome to "on the move." i'm jonathan ferro at bloomberg's european headquarters in london. let's get straight to your morning brief. greece is poised to submit a request for a six-month loan extension. pressure mounts to seal a deal after the ecb granted the nation's struggling bank only a small increase in emergency funds. lower for longer. fed policymakers are inclined to keep rates near zero for a longer time, highlighting international risk. treasuries rally, the dollar weakens. in tokyo, the nikkei climbs to its highest closed in 50 years. japanese exports jumped 17%. right here in london, we sit tight as the ftse is just 32 points short of breaking an all-time high. that's what we are watching this morning. futures markets in europe edging a little bit lower. dax futures off by 27 points. expecting a little pullback at the open. manus: the equity map just beginning t

caroline hyde has more. >> i am starting on the downward note because the exposure to russia and the ukraine. the tensions speak about the greek gyrations in the market and the tensions escalating worrying it investors. the big exposure there and the full numbers. the results will be posted later today. we are expecting a loss. there is clearly concerns about that and another lost tonight. this is down from the cuts and jpmorgan says the price target is cut down and they say they are concerned about cost expansion. they say it could hurt returns going forward. the taxes and regulatory pressure, as well as. i will end on the high note for you. it was almost one of the biggest risers today. at last, the oil company on the rise posting the increase in profits. up in the fourth quarter with the beat and the stock going higher. >> the oil company on the rise and staying lower monday. let's get back to the new government affirming a rejection of the bailout and saying it would like repatriations from germany. this was stuff that was not new. we have heard it over the couple of weeks. what

caroline hyde will be there. she has had a sitdown interview with u.k.'s biggest mobile provider. us now. this is somebody who knows a thing or two about consolidation. caroline: he does indeed. he is such a charismatic man. ee and bt's acquisition has lit a fire underneath the already tentative consolidation that was going on in the united kingdom. you got sky going, we've got to get into mobile too. you have hutchinson went though -- hutchison whampoa creating the number one mobile brand. suddenly, you got so much action going on. we did speak at length about consolidation. he says, this shouldn't be a worry for competition. does it make sense? will it hurt consumers? suddenly, you have four network riders becoming three. if you have 02 joining hutchison whoamampoa, will we lose out? he is saying no. ee has already spent one point 5 billion pounds upping the ante with 4g. we need connectivity everywhere now. he is powering money into it so that we can make phone calls using wi-fi not having to have a signal at all. he is talking about drones, about balloons as well. he feels con

caroline hyde. back a little bit later. film industry's biggest night out, and bloomberg was there. we will have highlights when we return. ♪ >> welcome back. you are watching "the pulse." terra firma is changing its approach to investment. the group is putting one billion euros of capital into future deals. that is according to a report by "the financial times." the move is an attempt to restore its reputation, which was hurt by the debt heavy emi takeover in 2007. greece's exit from the eurozone is just a matter of time, because no one wants to risk lending money to the country. that is according to alan greenspan. he spoke in a radio interview with the bbc on sunday. he said the crisis cannot be resolved as long as it remains in a single currency. greece's debt stands at 320 billion euros 175% of gdp. microsoft is looking to africa for growth. the company is targeting the continent with sales of mobile phones and computers that run on its operating system. it is part of a push to capitalize on demand for handsets, as afr

caroline hyde. the manipulation probe. >> we will take a break.rday, talking is losing with the chief creative officer christopher bailey. here he is, telling us how the fashion show and why -- ♪ >> i quite like things that make you smile and that's what we try to do at the end of the show where we have singing and dancing. it is ok to smile sometimes and sometimes we take -- take things a bit too seriously. relax. ♪ >> those stores -- the stars were out at burberry's latest catwalk show and we caught up with the creative officer christopher bailey. we talked about technology. >> i think it went well. the atmosphere is wonderful. nothing kind of window wrong. it was ok. >> what is the moment? >> i've never been anything else. i have nothing else to compare it to. what to do this collection is celebrate all things the british from architecture to music and of course, fashion. it is wonderful being british. we are surrounded by such creative industries that from where i am sitting, we are in a great place. >> burberry has always we are headed the so

. >> here with more is caroline hyde. >> he said very slowly. >> why should we be surprised?re. back in 2012 when the auction happened and suddenly we had a new player in the game -- we had bt wanting to snap up football rights. it pushed up the price. again, it is pushed up by 70% this time around. was in 5 billion pounds for 160 eight matches. the market was expecting it wouldn't be pushed up so much. they thought 40% or 50% higher. sky remains top dog. 126 games. they are coughing up 83% more. bet has kept the matches. sure, they don't have some of the leading matches happening on a saturday afternoon. maybe they don't have sunday matches. bt are paying up to 30% more. perhaps they got better value but sky is paying a lot to keep status quo. >> is it necessary? >> many analysts feel it is. i think sky shares will be hit because people will scoff that they were willing to pay more but they need to keep dominating the sport. football is the most supported sport here in the united kingdom, and it's a cash cow. sky is able to get more lucrative deals. they are able to get more

caroline hyde is here. they make a lot of stuff in switzerland.y did talk about the rmb effect. >> half of their research and development is done and they said that's where the impact is. when you look at the 20 numbers, the currency shift -- 2014 numbers, the currency shift. they didn't say how much. they said the swiss national bank decision has made a life more uncertain. and if they are thinking twice about expanding. there were looking at acquisitions. about their swiss operations, they think twice about the cost that will be driven higher. they said it will not affect job cuts. it won't hurt to jobs. luckily, much of their debt is an dollars a euros. they said they have been dealing with this for years in fact. overall, bringing them back dollars and having to convert to swiss francs for reporting purposes underlying business not as good as expected. >> the underlying business. china is a problem. united states pizza and other frozen products. what are we looking at? >> more optimism for 2015. they admitted 2014 was not at their best year an

rbs and caroline hyde been going through the details. >> seven annual loss 3.5 billion pounds. but we want to see is where the strategy? it is about slimming down and they are restructuring. eastern europe, middle east, africa and reducing their presence in asia and in united states. overall, they are going to be in 15 countries. 2/3 smaller than were they were. they said substantial job losses. that will be a concern in the rbs offices and this morning. way down by restructuring and materially higher. they are cleaning up their act and selling assets. a $36 billion loan portfolio is being sold. >> you said 3 billion, a lot of people were concerned they would squeeze on the valuation. >> the fact they get any money out is on the upside. banks have been hit hard. a company having to slim it self down. you look at is capital, in level .2%, much higher dan the 8% we saw last year. -- 11.2%, much higher than in the 8% we saw last year. you do shareholder, make that money back. paid dividends, share buybacks are what they are offering. but it is a company that is slimming down. >> t

here is caroline hyde. it significant. line: the first in five years and the first dividend in six years. sure, if you're looking at the net income number four lloyds it missed because once again you have a huge working break provision for ppi. one hell of a missile, 12 billion pounds are now set aside. but by the by, underlying profits of 26%. yes antonio had to make big changes one billion pounds of cost to strip out and we are starting to see them make some symbolic gestures. two the rest of the investor base because we get a dividend token. symbolic developments, that is what they say in their own earning statement. they recognize the importance of growing this number in this in the bank plans to have 50% of an earnings dividend going forward. this is investors starting to reap some reward. jonathan: as you say george osborne and the government -- lloyds for george osborne, finally putting this back into private hands. >> they have been setting down their stake. they managed to get rid of another 1% without the market e

caroline hyde will have the details. record sales in germany and austria. the number of people going off in search of new opportunities. greek bonds, great markets rising by 16%. sky stock up 2.8%. 959.5. standard charter up half a percent. one of the biggest shareholders aberdeen asset management a very good bank. mr. sanz has pledged 4000 job cuts, and he is making $400 million in savings. the stock is marching higher in london. sky up 2.3%. not you individually, but on a global basis. they are confirming 2015 has been a good year for their core brand. fashion and leather is where it counts. up 4%, top of the analyst estimates. they were thinking no growth in that area. cognac we see a resurgence in sales. selective retailing and cosmetics. 5.5%, who says luxury has got problem's? >> luxury and focus at the market open. oil a big bounce this week crossing the 20% threshold to put it in a bull market. oil in a bull market. ryan chilcote joins us for more. oil prices much higher over the last couple days. it seems to have stalled this morning. >> it reached

. >> caroline hyde is here. >> we understand that profits have been under pressure from these mining groups. rio tinto, second biggest in the world. copper down on the concerns about chinese demand. still, we saw underlying profit drop by 8.8%. that was better than expected. many felt it would drop up to 12%. managing to hold a profit and they are giving back money to investors. this is what everyone has been shouting for. they are going to give the $2 billion buyback. they are also upping their dividend. overall, they are raising their overall payout to investors. they are giving $5.9 billion back in total for the last year. dividend up by 12%. $2 billion share buyback. it is about in the middle of what analysts were looking for. clearly, rio tinto doing much better than jpmorgan had thought. when you are looking at their overall presentation, the focus is so clear. they are trying to repent for their previous years of going out and building up debt. now, their focus is costs. reduce costs. reduce capital expenditure. they are not digging holes in the ground willy-nilly anymore. the

caroline hyde with the latest on the english premier league. bring you live pictures from moscow, sergei lavrov and his greek counterpart. we will have plenty more on this after this very short break. ♪ >> welcome back to "the pulse" live on bloomberg tv and radio. now, despite oil's recent rally the biggest independent oil traders say that crude could resume a slump. the vitol ceo spoke with jonathan ferro and said there is no chance of u.s. oil slowing. >> i'm pretty sure that efficiencies are coming every day and technology is moving very fast. we sense that oil production in the u.s. for 2015 is going to go up. obviously, what is getting cut now is future investment, future projects. will they be big or in the case of shale, relatively small? i don't think we know how it is all going to shake out. obviously, it is very different from each part of the various shale baize ins. the other thing we are not sure about is what is going to be the response in demand. we all talk about supply, but not demand. whether economic growth is more important

. >> it is going to be -- caroline hyde. >> the mind-set in russia trading down. they seem to be being batted out of the park by the russian rebels in the you drained ukrainian president poroshenko putting out statements so far saying the deal seems to be unacceptable. focus on greece is going to be driving stocks in europe. basically flat. higher in the united kingdom. six hours of meetings and nothing agreed. the finance ministers in brussels failing to find any sort of a peace deal here when it comes to greece. overall, we're still seeing stocks remaining remarkably resilient whether they are looking at the greek finance minister, sounding very upbeat with. we have some kind of agreement. we understand eachor much better. we hope there will be an agreement found on february 16 on monday when they go back to the table. barclays, though, saying we believe the likelihood of a greek exit is now higher than at any point since 2012. they see the euro going to parity. let's get on the the foreign exchange market. move happening on the ruble. the ruble down against the

who better to tell us about it then caroline hyde. caroline: bp has agreed to buy ee.deration will be payable as cash and new bp shares. it was a joint venture between orange and deutsche telekom. dr. telekom will hold a 12% stake in bt. as was expected. orange will get slightly less of the overall combined bt and e. this is combining the most advanced 4g network and gives bt scope for future investment in product innovation. >> the company that has been left out of all this m&a this rife dealmaking that has been going on that seems -- sees sky teaming up with others. vodafone is doing well in terms of its numbers. third-quarter organic service revenue is falling but not much is expected. it is down 0.4%. analysts will expect a doubling of that. full-year earnings will be [inaudible] the question is what does but a phone do next? they themselves have said in the u.k. the used to be the dominant force and there are now bottle -- bottom of the heil. we are expecting them to go to the bottom of the heil. how can the come back? when -- we want to understand how quickly. it

here with more is caroline hyde. what is the story? google -- are they looking to get in on uber? what's it seems like all is fair in love and war. luckily, in conjunction with the project's to everyone's excitements. it was assumed they would work together. the investment arm of google put a quarter million dollars into uber and put even more money in the 2014 fundraiser. david drummond, the chief legal was on the board and we understand the same executive on the board had informed they might be looking at doing their own. we apparently understand that they had seen a screenshot of it already working and they are saying that google is developing the rates and they have their data. why not just make a sharing app? google has made no secret of their ambitions to get driverless cars and we could have them. it seems like they have a complicated relationship and they are more friend amienemies. >> they are doing research. where are we with this? >> a gets more kabul kid. we learn that they are asking to get rid of him and want him to resign. he is an employee who sits on the board. no

here is the tech kuru, caroline hyde where do you want to start? what is the bigger story in tech?f share price move, twitter. a stay of execution from his investors. he promised so much. in november, seven hour meeting with investors planning a rollout of products. we are starting to see some of the products reaping was roads -- rewards. basically investors announcing that after he got word of his coo they are starting to take action. they have a what you missed feature so you can catch up on tweets you missed. you have ways to chat in a group or edit video. getting more people on twitter and to stay longer. when you look at the amount of people they are adding, still not living up to expectations. fax a said that was down to -- >> they said that was down to apple. >> 4 million people they lost because of the upgrade to ios eight. the only added 1.5% users. for the quarter. the 20% uptick for the year. this is a company where investors are saying, i see your product but show me improving amounts of people on twitter. show me how you are luring advertisers. have a deal with apple w

it has been a tumultuous few months for the company, slowing sales caroline hyde is here with a little bit more in terms of what we can expect. >> gucci continues to be the weakness in the armor. gucci has really suffered from weakness in chinese demand, if they lost their way, their air of sexiness. but they are making big changes over in karen grew. -- group. we are expecting an increase of 7% in sales. when you are looking at a particular brand gucci is likely to see falls. meanwhile, vanessa is going to rise 9%. some good rise as much as 70% -- 17%. it is the executives who are falling in or out of fashion overall, because energy'-- because gucci's executive has been rearranging. take the vanessa executive and christopher ckkane, in sergio rossi -- they will see some improvement. >> another french business reporting today a leading french mobile phone company. they are talking about looking for a continued improvement in the chief performance indicators despite the competitive environment. it is because of that level of competition that we have all this talk about m&a. it was talki

caroline hyde is checking out the story. we are joined by philip. ou, caroline. >> 10% is off. this is changing oil into gasoline. it's about 3000 workers. if the spreads, if you go to the rest of the unionized refineries and terminals across the united states, you could see 64% of fuel production hit by this. it's a concern on what is driving the oil market lower. if we build up global supply the in and states is going crazy for shale at the moment. that is adding production. now, we are expecting worse. we are seeing diesel push higher in gasoline prices rise. this can affect production. it has to do with that contract. it is all to do with the last time they did it, it took several negotiations. shell is the company that does the negotiating with the union on behalf of companies. this time, they have rejected five. how are they going to get the pay rises they want and how well companies fight back? we still want to come to the table. they are looking at ways to mitigate this and keep producing despite the walkout. >> what have you heard from compa

caroline hyde joins us. >> kick off with ubs, they started the ball rolling on friday.s coming from bloomberg that they were being investigated by united states in terms of helping americans evade taxes. when it comes to banking and bank secrecy and improperly using securities to allow owners to conceal their identities. this is six years after a separate tax evasion case that the justice department had settled. but news today on ubs is it is eating investigated by the u.s. justice department regarding fx manipulation, currency and a galatian but this time it is structured product. it is suddenly the focus of attention with questions being raised. questions are being raised as to what bankers were doing and what commission's they were getting and did bankers stand by their legal duties to act on client interest. a fascinating story to come up later about tax evasion there. >> more from caroline on both of the stories throughout "on the move those quote and onto "the pulse" as well. >> stay with us. ♪ >> good morning and welcome to on the move in london. happy monday. if

lawmakers -- here is caroline hyde.u say earlier, 45 minutes passing through drop off with a limo and get back in. >> it all kicks off political theater at 2:15 london time. as you say, he will be grilled by the treasury select committee. all of this ring started by revelations that unfolded at the beginning of this month that there were tax evasion's going on at the swiss private banking unit of hsbc, dating back to 2007. they help criminals and arms dealers and blood diamond traffickers and all of this unveiled by the international consortium of investigative journalists. now being investigated by the u.s., france and belgium and switzerland. as you mentioned, what was so fascinating was we just met the chairman coming up for 45 minutes. then monday happened and they announced the results and the chief executive unveiled that he too, had his very own swiss bank accounts. it was not only just a private act account but it was a shell company, a panamanian shell company. he wanted privacy, he didn't want the rest of his

here is our business correspondence, caroline hyde. how much of the u.s.efining market has been taken off-line? what there are nine sites striking about 10% of all that is refined in the united states 1.8 million barrels, in excess of 3000 workers, so this is pretty substantial, and this is across washington, kentucky others, and it could even get bigger. we understand that more refineries are standing by to join the strike. and as you see here, unions rejected five contract offers. royal dutch shell is the company that is negotiating on behalf of the rest of the oil companies, and already five rejected. if there is a full walkout, this could affect two thirds of the entire refining fuel production in the united states, and as you said the first walkout since 1980, and that lasted three months, so clearly, there is concern here, and what workers are fighting for is they want to schedule a increases. they want rules to prevent fatigue and to keep workers. they want union workers to be protected more than contract workers, and 2012 is the last time we saw th

here with more is caroline hyde. so, topline lower, bottom line lower. >> un-surprising.ne, but two profit warnings last year. sales down by some 6%. that was the first drop in revenue we've seen in a decade for rolls-royce. that is what has been put into question, whether it should be doing land, sea, and sky. what caught my eye was free cash flow, down by two thirds. not only as 2014 been a bad year, 2015 is not going to be pretty. they are saying some markets have deteriorated even since november when they gave us that last update. they make a lot of the engines for the defense area. economies are slowing down in the likes of china. we are seeing less military demand. on the commercial side of things, they've had slower growth in china and europe, a three-year delay to the bowling -- the boeing dreamliner and the re-engine airbus. they are the sole provider of that. suddenly airbus is slowing down production too. things out of their control are hitting them, notably russia. the impact of sanctions heading them there. and of course the oil price. crude prices have hit o

caroline hyde is at the telefonica u.k. headquarters in london.r to you. >> yes, that deal could be a cool 10.25 billion pounds. owned by telefonica, i'm joined by the c.e.o. of telefonica u.k. roanan dunn. we have heard about the numbers you posted today. strongest quarterly sales in six years. strong growth. at this time next year, talking about your numbers once again, will you still be here? >> i think what we will be is part of the market because what you saw in the fourth quarter was while all the talk was consolidation, convergence, we just focused on the customer and as a result we grew faster in the fourth quarter than we have in six years. we will do exactly the same in 2015. >> because at the moment there is a viewing that -- the deal taking over 02 will be done by 2016. that is a whole year from now. so will you still be two distinct brands? will you be starting to analyze how you will be working together? >> the first thing to say is we haven't struck a definitive deal. we are in exclusive talks. as soon as that deal gets done then we

hyde community academy public charter school. that school is accused of mishandling funds. but as caroline tucker tells us today, parents, students and staff came together and rallied around the school in one last effort to save it. >> the dorothy i. hyde community charter school began in 1998 and there are now 1600 students across multiple campuses including the only campus for elementary students. those students in preschool through eighth grade may have to find another school though if d.c.'s public charter school board revokes the cap's charter due to what it said is a mismanagement of millions of dollars of funds by the school's founder. >> this is an adult problem. this is not a children problem. the children are getting what they need at cap. >> parents, staff and students took to the streets outside of d.c.'s city hall tuesday afternoon. >> i mean it's illogical to take this out on the children and their families. this is something surely there are other alternatives. >> many families don't know where students will go if cap closes. especially families who have relied on the on-lin