we'll have to wait for the final ruling by the cma, which is the 30th of april. if it sticks closes to the current findings, we might try to go to board likely before christmas, but none of that looks like it's going to be a good deal for sainsbury in the short-term or any time soon. the deal is off completely at this moment. >> now, part of sainsbury's retort to the cma was that the regulator misunderstands how people shop in the u.k. and the intensity of the competition in the grocery market i just said that they may take the cma to court once again, but are they right about the way the regulator should be looking at the market >> sainsbury is right in the way they aredy discounter and impact the supermarket is way stronger than it was before basically, if you try to put retail into two categories one is daily essentials. the kind of products you get at aldi at a good price and quality. you know, all supermarkets have to price relative to the discount there's no way to avoid it as a real competitor. they are also a big long range brand that they've done so, and

cma pouring some cold water on that deal.thought the difficulties would be good, because walmart is set to remain for a little bit longer, but also ways on the price. we have got ex-dividends to talk about here. air france klm also had numbers out. let's get a first word news update. >> the u.s. is asking china to keep the value of the yuan stable. been discussedso in earlier talks and we are told the two sides agreed it would be part of any final deal. these negotiations are set to run through friday. today, we get a clear to have dovish the fed has become. minutes will be released at 7 p.m. u.k. time. after bouncing back from the december low, certain signals could see it narrowing. palladium has hit a record price. extending a powerful rally triggered by an acute shortage. car manufacturers are scrambling to get hold of the material needed to meet stringent emission controls. it will benefit top suppliers in russia and saudi arabia. swedbank is facing allegations that it was used to launder money. it is alleged that some 5

. >> cma .- >> (♪ mÚsica ♪) .- >> las 12 con 28 pasamos a ver el adelanto de lo que tenemos preparadoesto y más a partir de las 5 regreso con ustedes . >> muchas gracias blanca imaginamos que muchos se dieron cuenta lo vimos en los comerciales en donde ayer se midieron cara a cara los mariscales del nortesan mateo se llevó la victoria con tom brady , derrotaron a los rams de los Ángeles , y esta persona se coronó como el jugador más valioso del partido . >> y este jugador logró atrapar 10 de los pases con tom brady esta es la apuesta de los vatos , ellos apostaron por cuál de los suyos ganaría , sería un donatvo . >> le daremos el seguimiento , también el partido que necesitaba más accio . >> qué tenga buen día . >> (♪ mÚsica ♪) . >> (♪ mÚsica ♪) . >> test noticia en desarrollo, el futuro del chapo guzmÁn esta en manos de los 12 miembros del jura jurado.rÍan llegar a un veredicto. >>> vuelvo a anunciar con plena certeza que hemos ganado la presidencia de la repÚblica. >>>

the cma says it will take court action if influencers don't stick to promises to be clearer. now told panorama that zoella and jim chapman are committed to providing absolute clarity to their audiences. it's not just transparency that is an issue in the social influencer business. the advertising laws protect under—18s from gambling and alcohol advertising, but that hasn't stopped some companies approaching influencers. yeah, i like that one. zara mcdermott has discovered this dark side of the industry for herself. probably 60—70% of the stuff that comes my way i would turn down. what sort of stuff? anything gambling related, alcohol related. you wouldn't even believe the amount of 12, i3, ia—year—olds that see our posts. i would never want to sell something that could be potentially harmful and dangerous to someone. most youtubers tell the camera almost everything. it almost like you know the person even though you have never met them. 13—year—old matty hibert is a keen follower of social media influencers. when you are watching them, it is like you have a window into their

i say that is a country and they cma, but way? as they do unite israel? yeah.that originally lived there and they are trained to kick us out. like you that you look like a terrorist and it is light, yeah. but you are not. —— like. you can find everything. everything. i started in 2014. everyone wants to dads. people choose may be religious events to go down too. we choose parties. you have got to dantz to let go. it helps to let go. —— dance. there was the greatest music scene in palestine in the 805 and 905. and that'5 with my father, be used to go throw rock5 that'5 with my father, be used to go throw rocks and party in the same night. the young generation, want to move forward. there is a lot of re5i5tance move forward. there is a lot of resistance in art. 02 i5a 02 is a traditional dance that comes from palestine, syria, lebanon, jordan, bit5 from palestine, syria, lebanon, jordan, bits of iraq. linking it with garb and dance hall —— dub. jordan, bits of iraq. linking it with garb and dance hall —— dubm i5 with garb and dance hall —— dubm is about freedom a

trying to understand little bit more about the goals of that cma and how that -- second is around how will we be integrating, how we're utilizing parent and student view currently? like the classroom will that part of the master page for students. lastly, remain time feedback between content managers the administrators and authors. that will be part of the bay it. one thing i think about is principals, for example, principals are responsible for thousands of things and hundreds of things. we've seen parents being able to help to fulfill this role. that's great to hear that. that's an opportunity for the parents. >> it touch upon your first two questions, c.m.s. is an open source platform. the work that we've been doing with our partner on this is part of that design process building out from all of the requirements and feedback so that that beta platform is robust and handle the various templates. we can have the consistency and coherent across the school front doors for example be the tent p. we'll have a process where we'll take in the additional request that we have to build that f

would, because they have to divest in so many markets, they have to divest -- all the things that the cmain terms of what they need in terms of a remedy is practically impossible, and the only potential buyer might have their own antitrust problems with buying these assets. david: this reminds me of another deal involving the railroad industry, where the european authorities basically said we do not agree with what you want to dispose of, we will not let you go through. is this a coincidence or is there a pattern in europe saying, we are getting tired of the concentration? >> i think it is a little bit of both. we are looking at authorities get tougher on mergers, and in the remedies they will require and other concerns. but i think that these deals are different. deal, real deal, -- rail the package was too much of a mix and match package for european cup edition regulators to accept it. they said, there could be a remedy they would accept, but they didn't want a mix of sales and licenses, and some assets from one and some from another, they preferred a stand-alone business. david: but f

especially the cma's languages are strong. it is. what they say and whether they will go towards the new group. a third day of quite an intense rumour mill at westminster over potentially more defections to the new independent group. there are said to be a few conservatives considering this and lots of speculation about we might hear more from them later today. in terms of who we do know is definitely leaving, joan ryan has quit the labour party to join this new independent group with a really scathing attack onjeremy corbyn, saying he is not fit to be prime minister, he has allowed the scourge of anti—semitism to become a serious problem in the labour party. labour would contest it. we have not heard from them specifically on the issue ofjoan from them specifically on the issue of joan ryan's from them specifically on the issue ofjoan ryan's resignation. but we know they have said they think candidates who have resign should stand for by—elections and they want to make it easierfor constituents to make it easierfor constituents to s

women's prison and they have computer and we also have reba mcentire announcing the nominees for the cmas. we she will be wearing her reba mcentire boots. we will see you in 15 minutes. >> i hope so because i love reba mcentire. >> i do too. we like her a lot around here. we will see you later. >> we will see you at 7:00. >>> it is 6:45 am. >> the future of meat production may be allowed in san francisco and they are growing meat from animal cells. they start working with the farmers to get the cells from the animals. >> there are billions and billions of chickens confined and killed everything will gear. that requires a lot of land and water, and it is responsible for an enormous amount of greenhouse emissions. next up, "just" is making be from the cells but first they need approval from the usda and fda. you brought up a good point earlier and how does it taste? >> i would hope it will taste good but who knows. >> i like what they are doing. they will have to make it cheaper. it is not affordable. >> it is an expensive meal, but quite delicious. >>> taking a look at the roadways, windy

tracks in europe we had alstop siemens, and the european commission locked that deal we heard from the cmathe u.k. yesterday that they are all but killing the azda sainsbury deal what does this mean in temz of prospect for further m&a and the appetite of regulators to create an environment that allows for it we've seen the currency position will be changing they can be very keen not to see any consternation,and that's have i different weave seen a deal improving very soon we're going to see a commission. there's some stalks. i mean, obviously in germany, vodafone, they're moving ahead with the potential merger. i mean, once we have very vrks he few potential deals available right now. most are three or four operators. you can't really have two. you can go to four to three. it's very difficult. it's if anything to be potentially small deals in there. people in the country not so much have a different subsidiary, but operating as one. that doesn't really work so far. we'll see whether that goes ahead and we'll see if they're having 27 countries with two or three operators or we see five, six

the cma has said there could be some options including the sale of stores.mberg. ♪ >> good morning. europeanve from our headquarters. i am anna edwards. the cash trade is less than 30 minutes away. ♪ anna: devaluation conversation. washington said to ask beijing to stabilize -- guaranteeing a stable yuan. glencore announces a $2 billion share buyback after a

but the cma doubts whether that would work., and would cut prices. they have applied price criteria which are unprecedented in the uk, and i would argue unprecedented in the world, so, in the end, they are taking money out of customers‘ pockets. but as uk plc, with brexit looming and a different set of competition rules, who would invest in this country? this is outrageous. this isn‘t the last word. sainsbury‘s and asda still have a few weeks to make their case, but then leapfrogging tesco lea pfrogging tesco could leapfrogging tesco could be too big a merger to go ahead. simon gompertz. let‘s have a look at the weather. a bit more sunshine in what has been a great night in many parts. it is in the north—east of scotland where we will see temperatures drop tonight. patchy rain and drizzle, particularly through central and western parts of the uk. away from that corner of scotland, a mild night. on thursday, fairly cloudy, new morning commute could be damp. parts of northern ireland, for scotland. most of that will fade away. a

the cma said ways to address concerns could include forcing them to sell a significant number of storesased organisation that campaigns for lgbt sportspeople has cut links with tennis legend martina navratilova over comments she made about male to female transgender athletes. she wrote it was cheating to allow transgender women to compete in women's sport as they had unfair physical advantages. athlete ally said it perpetuated myths and was transphobic. research shows 40% of companies have a wider gender pay gap this year than they reported last year. firms with more than 250 mps are legally obliged to disclose the difference in average pay received by male and female staff annually. so far more than 1000 organisations have done so with banks recording the biggest discrepancies overall. the no—fly zone for drones around airports is to be extended following the disruption at gatwick in december. from the 13th of march, it will be illegal to fly a dry within three miles ofan illegal to fly a dry within three miles of an airport rather than the current 0.6 mile exclusion zone. the governme

. >> that is cma institute level four. bill winters is a yummy yummy consolidation in my tummy.tion term. would this be a combination? you are a strong u.s. bank, why would you look at a european bank? >> it is in fact more asian, something like half or 40% of their revenue comes from asia and china in particular. we are making a long-term bet on that region and want to get bigger, it is an interesting target. you have to deal with the other baggage including brexit. we also have an interview with the leadership of commerzbank. there is so much speculation that commerzbank will at some point merge with deutsche bank, does that need to happen for any cross-border consolidation, do we need to see domestic m&a first? certainly not an expert in the german banking landscape. that makes sense. a trend driving a lot of different industries and technology. >> coming up right here on bloomberg surveillance we will have plenty more on the banking sector. we will talk earnings with cisco systems chief executive. that is coming up at 9:30 a.m. in new york. this is too much -- this is bloomb

. >>> time to get to the cma group in chicago and with rick santelli for the santelli exchange in letia. thanks for joining me. >> sure. thanks, rick >> you know, econometric problems is what the fed has been trying to do for decades. many of the old standbyes between unemployment and inflation, how housing should react with movement in interest rates, how does the balance sheet react? how does the economy react to the balance sheet? some of these are new issues some are old ones that haven't tracked or adapted well. what shoulds fed do? we certainly have a new pragmatic outlook and leader at the fed. your thoughts? >> well, the economy always evolves, rick. it changes over time and you're right we went fruit phillips curve to stagflation. we went from monitorism to what happen to the monetary aggregates and now you've seen a couple of key points one, the fed has continued to lower what it thinks is the neutral interest rate in the economy. and second of all whatever that change in interest rates is, we've had some of the incredibly low interest rates we've not had a big housing respo

michael grenfell, from the cma, described some of the practises they have found. and caused us concerns, whether the price you see at the end may not be the actual price. that there might be had in charges like city taxes or resort fees. that the discount you're told about may not be an actual or real discount, and the things you've just mentioned, which is that there is pressure selling when you sign up and you're told about room scarcity. and those messages, though they can be useful, have in some cases been misleading. so, you've been told that there are 15 people looking at the site right now, and right now turns out to be in the past week. or you're told there are only three rooms available and you think that means three rooms in the hotel, and itjust means only three rooms on that particular booking website in the hotel. so, what we've got today is formal commitments from the six main booking sites, companies like expedia, booking.com, trivago, that they will ensure that there are no such misleading messages and that people can have real confidence in the si

these are just provisional findings from the cma. aren't good. they have said they have serious competition concerns. the takeover is close to collapse. we heard from the chief executive yesterday, he was pretty firm in his criticism and describe the findings is outrageous and said he would contest them. but a lot of speculation out this morning over his future. it says there is something fishy going on in the watchdog's reports but this could mean that mike coupe has to find a newjob. also, walmart, that owns asda, the us retail giant, potentially now looking for a new buyer. if they cannot get the deal with sainsbury‘s, it could look to off—load asda to someone else. so, expect a lot of repercussions from this because frankly yesterday a big shock to the city and to sainsbury‘s. shock to the city and to sainsbury's. the back pages dominated by raheem sterling, as you might imagine. a lot of focus on the vir issue, the video system, it took over four minutes to make a decision around a handball, which was schalke's first penalty. it

in the fine print of the cma, evenif it.od enough to allow a deal to go ahead. the cma is going to publish a final report at the end of april on this. these are initialfindings. there will be a dialogue with sainsbury‘s, can they change the ruling? what does sainsbury say about it? the ceo left open the door this morning for a judicial challenge, sainsbury‘s has nowhere to go if the current initial findings stand. if they cannot change the cma's mind by gentle persuasion. what is happening to the share prices? sainsbury's well done. asda does not have a share price because it is owned by walmart in the us. walmart wants out, it is retrenching its international operations to fund its fight with amazon. it does not want alistair anymore. does it sell it? float on the stock market? —— it does not wa nt the stock market? —— it does not want asda anymore. a lot of questions posed and it does not look like the sainsbury's and asda deal is going to happen. thank you very much. swiss police have confirmed that one of those injured i

but the cma doubts whether that would work. out of customers' pockets. but as uk plc, with brexit looming and a different set of competition rules, who would invest in this country? this is outrageous. this isn't the last word. sainsbury's and asda still have a few weeks to make their case, but then leapfrogging tesco in size could be too big a merger to get the go—ahead. simon gompertz, bbc news. back now to our top story. three conservative mp5 have resigned from the party over brexit and what they call the tories' shift to the right. theyjoin the eight labour mp5 who have formed the independent group in parliament. earlier, i spoke to joe twyman, director of deltapoll, and began by asking him what the new independent group's plans will be. everyone has been talking about the history of the sdp in the 19805 and how that shone brightly. more than 50% in one poll, then subsequently collapsed. there are differences this time, firstly, people do not trust politics in the same way. there is less deference. that has reduced signifi