keeping an eye on easyjet. record first loss for e.g. jet -- easyjet.he winter travel season, weak pound, inflated expenses in europe. res amid a price war. down 5.7%, the most since february. all right, i want to point out that we have seen the euro -- $1.10.ugh a dollar the single look at the euro-dollar. the $1.10 level being pierced and we're holding above that at 1.1021. you can see it is a big move there for the euro-dollar. newly elected french president emmanuel macron met with end of the merkel in office. the two vowed to work together to strengthen the european union and the region's economy. >> i am today in front of you, happy to be able to represent france, but with a daunting task to accomplish. am -- it 1 -- and i reminded the chancellor, did implement reforms prance needs. the french agenda will be an agenda of reform the next few months. economic, social and educational reforms, like i said during the and campaign. not because the european union asked for it, but because france needs it. matt: macron also named's prime minister, a cente

easyj et easyjet shares currently down about 496 in easyjet shares currently down about 4% in london. more. shares have actually been down as much as 6% in early trading this morning. investors are not happy. in one sense, easyjet is not doing too much wrong. passenger numbers are up about 9%, revenues are up, but the problem is, the company isn't making as much money, and a big factor is the fall in the value of sterling since the brexit referendum last june. easyjet reckons that alone has cost them £180 million. it has also increased the companies costs because its fuel bill is paid for in dollars. also, easter was later this year, meaning it falls outside the six—month period come and easter is a very profitable time for the airlines generally. so, that was a problem as well. let's hear what the chief executive of easyjet had to say earlier today. outlines ten to make losses, 19 out of 21 years, easyj et has lost make losses, 19 out of 21 years, easyjet has lost money in the winter. the two years we made money, all the stars aligned of foreign exchange and everything. so actually,

we had earnings from the airlines, easyjet was a bit of a disappointment. moving on to the sectors, you'll see a better picture of that. airlines are under pressure. basic resources. autos also down. 0.2%. the reason being eu car sales down 6% in april. we'll talk much more about that story in a short while with a lot of weakness coming from the uk. >>> japanese prime minister shinzo abe has told cnbc that he hopes the united states will return to the tpp trade table as he pushes ahead to strike a deal. speaking to akiko, prime minister abe said it was vital the u.s. and japan maintained free and fair trade regime. >> translator: we have finally come to an agreement on the rules of free and fair trade. we hope to utilize that agreed framework. unfortunately the u.s. has declared withdrawal from the tpp. since we have come thus far, japan must take on a leadership role and bring the talks forward. we would like to capitalize on the result of our long years of efforts. i think the important point is to ensure a fair and free trading regime in the asia pacific

if easyjet allowed another five minutes it flights in.ation when it spread over ceremony airlines and flights, of any real use? it's interesting to find out who's doing really well. you would find it interesting extra marsh is also interesting to find out why royal dutch airlines and klm are at the top. if you fly to durham tees valley or humberside and you are klm and have three flights day that's half the flights that are going and there will not be any congestion so they are doing very well. the three at the bottom are norwegian trends that and icelandair but in winter, places aren't fit for human —— human habitation let alone operating an airline so there are good reasons. but for the passengers, wejust airline so there are good reasons. but for the passengers, we just hope things will get a bit better. imagine if you could unlock doors or control your phone just using this. a tiny chip. for a growing number of people in the uk it's a reality. this is a hack space where people into their tech build stuff or take things apart and start

vonnie: still have, turbulent times for easyjet -- brexit is taking a toll on the discount airline.at the ceo told bloomberg. ♪ mark: this is "bloomberg markets ." vonnie: easyjet shares falling by the most since january after reporting a larger than expected first-half loss. more than twice what it was last year. guy johnson spoke to easyjet ceo and ask her about the impact of brexit. >> the referendum affect in britain has disproportionately affected easyjet because we are and run denominated euro denominated. , thenk the uncertainty political uncertainty about britain negotiating with the eu 27 ways more heavily on easyjet because we are a british airline and run a european airline. that is definitely a factor in the underlying share price. we are focused on our margins and cost program. analysts would have been pleased with the cost performance over the last half. we beat expectations. we will continue to focus on cost. and we will continue to do what we really do well. you cannot be driven by the share price. you had to be driven by what is right for the airline and depth of th

if easyjet allowed an extra five minutes it might go up the table.rrived on time or within quarter of an hour. and from the passengers' point of view, is this information, when it's point of view, is this information, when its spread over so many airlines and so many flights of much real use? well, it's interesting, i think, to find out who's doing well. you're the travel editor of the independent, you would find it interesting. it's important to understand why klm, royal dutch airlines, is at the top of this. that's because it's only looking at flights to the uk. they fly to about a dozen uk airports. if you're flying into durham tees valley or humberside and you're klm, three flights a day, that's half the flights a day, that's half the flights you're going there, you won't find congestion. the three airlines at the bottom of the table, norwegian, air transa and iceland air. airtransya, norwegian, air transa and iceland air. air tra nsya, based norwegian, air transa and iceland air. airtransya, based in canada, in winter, it's not fit for human hab

historically, easyj et has more like easyjet. been more appealing to the business traveller. ryanair are going after that market share as well by going into the herbs. —— the hubs. cheap and nice. sounds like you, ben! victoria, thank you. not cheap, but nice. let's take a look at some of the other stories making the news. british airways says it will operate a normal schedule today after this weekend's severe disruptions. the airline's chief executive blamed a power surge for the computer failure that affected 75,000 people. many passengers are still without their luggage. some estimates say the problems could cost ba more than $150m. retail sales injapan rose more than 3% in april compared to a year ago. that's higher than economists had been expecting and comes just weeks after government data showed the economy grew faster than forecast in the first three months of the year. that's its longest period of expansion in more than a decade. new analysis suggests chinese—speaking criminals may have been behind the wannacry ransomwa

god: easyjet -- guy: easyjet a little worse than expectations, 236 million pounds in the red.at is your expectation for the story going forward? >> there were no real surprises in the first half loss. 19 out of 21 years, eject -- easyjet has lost money in the first half of the year. break it down, easter has moved from the first half into the second half, 40 5 million pounds of loss, and the foreign-exchange headwinds is 80 million pounds. so before we started the first half, the market new there was 127 million lost against easyjet. that leaves a very normalized loss in the so not turbulent, first half. very stable, navigating our way knowgh the referendum, we exactly what we will do about that, and what we have said is the second half is that we are holding guidance. >> cisco, the biggest maker of a -- the equipment that runs the internet beat earnings and , revenue estimates, but the stock move down because its sales forecast was cautious. part of the reason why your stock did not do well is because you said going forward, it is looking a little soft in terms of purchases.

we go over to british budget airlines easyjet. the company reported a loss. the firm says a lower pound and sharply falling ticket prices are too blame. recent studies suggest revenue from tickets may drop further. >> these images from chaos prove that the gloss has come off and travel in the last few years. here in europe, it is becoming cheaper and cheaper to travel in just about anywhere you want. that is because discount airlines are flooding the market and driving down prices. last year, the average price of a one-way ticket was between 64 and 107 euros. this year, increasing competition have driven average down to 44 euros. euro wings and german wings lead the market. easyjet is also a player. airport capacity is being ramped up as the market grows. they are refitting a military airport to handle this. the german arrow space center says budget airlines already account for 29% of international departures within europe. >> the order a product -- next time you order a product from a different country, just take the german port city of hamburg. it has had a

shares of easyjet are lower today.pean discount airline posted winter losses, but bookings are running ahead of last year. still, the ceo acknowledged brexit is having an impact. >> it will be a bumpy road. shares have been volatile for many stocks, particularly for sterling denominated stocks. we are one of the few ftse companies that are sterling denominated. taylor: easyjet has been hurt by the weaker pound and falling airfares. that is your bloomberg business flash. tom: thank you. we will really look to washington in the next hour. ambassador burns will join us. we have the senate majority leader in the 9:00 hour. let us pause and look at something mr. macron cannot ignore in france. that will be a dutch parliament. to getuld not be able anything done. and there is news out of austria where six months ago's government is vaporizing into a far right return. moritz kraemer is with us from s&p global rating. this is something francine lacqua has been watching. just willsm/far-right not go away, will it? moritz: no. i

easyjet, by far britain's biggest budget airline, is very much the worst performer.s was officially late. talking to the airline about it, they say that across the entire system they are looking at only one in four being late, but of course they fly lots of places which don't go anywhere near britain. the headlines on bbc news, a welcome ceremony in riyadh marks day one of president trump's visit there. $350 billion with contracts between the us and saudi arabia have been agreed. the white house describes one defence—related deal as the biggest in us history. there is a disagreement within labour after the shadow foreign secretary says the party could abandon its support for trident. meanwhile, the tories defend their aim to cut net migration after it is criticised by former chancellor george osborne. and the wedding has taken place pippa middleton, the sister of the duchess of cambridge. she married financierjames duchess of cambridge. she married financier james matthews in berkshire. home ownership among younger families has fallen by nearly two thirds in some par

easyjet, by far britain's biggest budget airline, is very much the worst performer. arrived, sorry, one in three flights arrived, sorry, one in three flights arrived, sorry, one in three flights was officially late. talking to the airline about it, they say that across the entire system they are looking at only one infor system they are looking at only one in for being great, but of course they fly lots of places which don't go anywhere near britain —— one in four flights being late. two more astronauts have been inducted into nasa's hall of fame at a ceremony at the kennedy space centre in florida. they are michael foale — who has british and american citizenship — and ellen 0choa from the us. both took part in numerous shuttle launches and spent time on the international space station. tim allman reports. music # there's a star man # there's a star man # waiting in the sky # waiting in the sky # he'd like to come and meet us # he'd like to come and meet us # but he fears he'd blow our minds #. space, to calling a phrase, the final frontier. #. space, to calling a p

airlines tend to make losses, 19/21 years airlines tend to make losses, 19/21 yea r5 easyjet airlinestend to make losses, 19/21 year5 easyjet has lost money in the winter and the two years we made money, all the stars aligned, the foreign exchange was in our favour, so £80 million of that was foreign exchange, the weakness of the pound against the dollar and because we buy our fuel against the dollar and because we buy ourfuel in against the dollar and because we buy our fuel in dollars and £115 million is a hit in the first half but a benefit in the second, because ea5ter moved into april. in other business news, consumer group which? say5 banks have made little progress in protecting people from pu5h fraud. that's when victims are conned into transferring money to the accounts of fraudsters, believing they're legitimate firm5. the banks' anti—fraud group said that they're addressing the problem. uk workers are three times more likely to go into work when ill than pull a sickie. a survey by aviva uk health claims 60% of people say they'd worked when unwell — only 23% admitting to pul

easyjet the biggest fall. not to be sneezed at! thank you, charlotte.mote british territory in the south pacific and has been found to have the highest density of plastic rubbish anywhere in the world. hywel griffith reports. a desert island that's become the final resting place for the world's waste. henderson island is uninhabited. years can pass without any visitors. but its beaches have become strewn with the everyday items people throw away. a research team sifted through the sands to find more than 17 tonnes of plastic had been deposited here. decades of debris carried by the oceans. the top offenders on the beach were, by and large, everyday consumer items that most people don't really hesitate when they use them to think about what it really means and where they might end up. things like plastic toothbrushes, plastic cigarette lighters, even babies' dummies. the australian research team travelled to the island to spend three months surveying its beaches. henderson is one of the british pitcairn islands that lie more than 3000 miles off the coast

easyjet has reported a larger loss for the first half of its financial year, partly due to the impactresilient" and the losses were in line with market expectations. shares are down 6.5%. flexible working can be an issue if you want to progress in your career and your company has fixed times you need to be at work. we are going to explore some of those issues now with the founder of a company called timewise. emma, thank you for joining us. you have been focusing on the retail sector. what issues have you found ? on the retail sector. what issues have you found? retailers a great place to work if you want to work part—time or flexibly, place to work if you want to work part—time orflexibly, but place to work if you want to work part—time or flexibly, but we found the problem is that as soon as you look to progress your career and go into management, the roles revert to being full—time, and the issue for people who need to work part—time or flexibly is that it can track you on the lower rungs of the retail sector, and it is a problem for businesses, because they are not able to maximis

easyjet upgraded.ts biggest a 321 variants after publishing a record winter loss buying new plaintiff for protecting that revenue perceived will drop by a low single-digit percentage, declining all as 10% in the fiscal first half through march the 31st. the pound slides following last summer's brexit vote, wiping 82 million. -- wiping 82 million pounds from earnings. easyjet shares are falling today. european value stocks have been holding their own against growth shares even as their uris -- u.s. counterparts like. s&p versus growth index. sayan stanley strategists it is only the beginning of equities which chair -- trade cheapest relative to regular earnings and book values. confidence among manufacturers is rising as it is among service providers and consumers. gdp data showing the economy growing .5% in the first quarter, same as the earlier estimate. the outlook for inflation remains weak, which is why the ac -- the ecb will not taper until next year. julie: next -- mixed economic data. some housi

easyjet, some passenger numbers for april came in unexpected. we are seeing gains for easyjet.. on the downside i'm looking at jcdecaux. down 5.3%, falling the most since november. first quarter adjusted organic growth down 1%. revenueuarter adjusted growth as slightly positive. reporte first u.s. jobs shows the economy moving past earlier seasonal quirks. around 190,000 after the 98 we got last time. a little shy of the 190. cio at sack so bank. does this number matter? >> no. >> great. let's move on. is there going to be any evidence that wage gross is cracks it will be a continuation of the trend. the potential risk is that they will start to create inflation. how can you have it in an economy that is growing? >> what is interesting is you take the number and you get to a figure that puts you the way you would expect full employment to be. they should be doing nothing for a long time because inflation -- because of activity being very low. low.oductivity being very what they want to achieve is get to a level, a comfortable level of interest rates from which they can navigate

easyjet reported losses of 275 million euros for the six months at the end of march. disney says hackers have stolen the upcoming parts of the caribbean movie from its studio and is threatening to release it on line if not paid a ransom. bob eiger told abc staff that the company would not pay the money. the cyber attack is separate nacrythe so-called wan ransom ware affecting computers around the world. pay to liveld you in the united states? some chinese families are willing to invest a half million dollars as part of the so-called golden visa program. the program has brought $24 billion to the u.s. in recent decades in the number applicants have tripled between 2016. >> invest $500,000 to get your family out of china. 100,000 chinese people have taken up the offer over the past decade, injecting $24 billion program.u.s. visa thousands of agencies have been created to satisfy demand. the main reason so many chinese nationals are planning to leave, their children and the education they are getting. >> i lived through a test oriented education which in my eyes is white

on the downside, easyjet.s seems to be pushing it, but a number of airlines coming under pressure. ryanair and iag among them. easyjet down 1.8%, the most in two weeks. arista down 2% here. this is the bakery company that has been battling short-sellers in its stock. the stock has last more than half its value in the past three years. arysta has worked profitability will remain under pressure. at america and europe will weigh on profitability and optimizing capacity will take longer than expected. this ahead of the appointment of a new ceo. we are seeing arysta shares down 2%. modi indian prime minister has arrived in germany. he dined with angela merkel last night and the two will have further talks today. germany is india's largest trade partner in europe. this meeting comes days after chancellor merkel said reliable relations since world war ii are in some ways over. for more, we're joined from mumbai. let me start in mumbai. what does prime minister moby -- prime minister modi hope to achieve? >> he is on

the low-cost airline easyjet reported losses of over 275 million euros for the six months to the end of march. they were hit by the later easter this year. revenues at the airline were up 3% with passengers climbing almost to a record high of 34 million. shares down almost 6% in london a short time ago. fromlle: finally, stephen, you, another high-profile cyber attack targeting disney this time. stephen: the company says the hackers have stolen the latest "pirates of the caribbean" movie from their studio and have threatened to release it on line if they are not paid a ransom. told itser -- bob iger parent company abc they would not pay a ransom. the film is due to be released in the analysis and 10 days time, but it may -- in the united states in 10 days time, but it may be leaked before that. rochelle: think you, stephen, for the business rhonda. we're going to take a short break here on live from paris. we'll be back with more international headlines very shortly, just stay tuned. announcer: this is a production of china central television america. walter: the human brain, it weig

flights at 25 british airports and found most uk airlines perform worse than average, with one in three easyjettrol your phone using a tiny chip implanted in your hand. it sounds like something out of a sci—fi thriller, but for a growing number of people in the uk it's becoming a reality. so called "bio—hackers" are installing microchips into their bodies and programming them to perform everyday tasks. but will it catch on? danny savage went to meet some of them. this is a hack space where people into their tech build stuff or take things apart and start again. a few of them, though, have technology implanted inside them. they have been chipped, fitted with near—field communication. buried in their hand, it can do tasks for them. phil's chip has been programmed to work as a key. so you can see that will open the doorfor me, so i can get in. it is the same technology we have been chipping cats and dogs with for the past 30 years. it is entirely benign. if anyone wanted to change it, they would have to be within one centimetre of me and i have a password on it as well. so you can't be turned into

pounds comes so before we started the first half, the market new there was 127 million lost against easyjetzed lost in the first half comes, so not turbulent, very stable, navigating our way through the referendum. we know what we will do about that come and what we have said is the second half is that we are holding guidance. cisco, the biggest maker of a quiver that runs the internet, beat earnings and revenue estimates, but the stock move down because its sales forecast was cautious. yourof the reason why stock did not do well is because you sit going forward, it is looking soft. are there mergers and acquisitions you could do with all that cash you are holding to can fix that problem? have more than doubled the amount of dollars sitting on our balance sheet from's instructions in the last eight quarters, and it was up 87% last now $4.4 billion, so that transition is moving. put 500 50 million on the balance sheet in the last 90 days, so we are accelerating that. we have built internally that are contributed to that balance, we have namicsitions like appdy that will contribute to that. a

easyjet weighing on stocks in europe. lauren: stock market futures mixed this morning.ractionally. nasdaq up about two. t.j. maxx, urban outfitters, staples and the industrial production, an indicator of how the second quarter will perform. nicole: up 6.5% is gaining once again not 33 cents right now at 4918 a barrel. gold has also been up for sessions. one by 1% is up $4.12.30 for a troy ounce. >> "wall street journal" reporting job cuts are expected to be announced as early as this week. that will mostly affect salaried employees. no indication whether ford is to reduce the hourly workforce at its factories. mark fields hopes to boost profits and poor's stock price down more than 17% in the past year and down more than 40% since mark fields took over three years ago. the market value is now not only behind general motors but tesla as well. nicole: investors loading up on shares of snapping the the stock rallied 8% yesterday after regulatory filing showed several investors had owned the shares. the things that the bug is $17 ipo. the management goldman sachs group part

easyjet shares are riding high after the budget airline saw an 11.7% rise in april passenger numbers. we're joined by tim hayes, chief investment strategist from net davis research. great to have you on the show. european equity funds have seen their sixth straight week of inflows, the longest positive streak since 2015. bond funds pulled in 1$1.4 billion, the most since early january. we've seen outflows in the u.s. are you behind that trend? >> yes, we are. we were underweight europe for most of last year, just recently the last couple months we upgraded europe. i think what's been happening, investors are looking beyond the political risks starting in february and realizing the fundamentals are good. u.s. had lagged the u.s., in that sense that economic data and earnings data had come through, and now that's started to happen. >> clearly it is the show-me year for european equities, after they underperformed u.s. peers for so long, for the last six, seven years, i wonder how long this momentum can keep up in europe. >> i think it has plenty of momentum behind it we'll look beyond t

. >>> easyjet reporting losses due to weakness of the british pound. >>> singapore's gic cutting itstake in ubs because of changes in the lender's strategy and business. gic saying it had reduced its stake to 2.7% from 5.1%. that stock not reacting well. down almost 2%. >>> sears ceo, eddie lampart, vowing to fight back against suppliers trying to take advantage of his retailer. shares up 1.2%. >>> elliott management upping pressures for changes at bhp and calling for an independent review of the mining giant's petroleum business. >>> snap having its second strongest day since going public showinginstitutional investors bought shares. it's up 0.1% today. >>> when we come back, spacex successfully launching a rocket. details ahead. >>> here's the national forecast from nbc's bill karins. >>> good morning. we are watching severe weather today. possibility of tornadoes. that could mean travel delays. already a lot of storms from minnesota through north dakota and into areas of nebraska. as we go throughout the severe threat today, 13 million people at risk. we have a chance for a tornad

bert craven designed it systems for easyjet for seven years and now advises airlines around the worldan you guess how this complete disaster happened? we can hazard a guess and the industry is rife with speculation today. the systems that ba to process her passengers at heathrow are provided by a company called amadeus and they provide passenger something to around 40% of the world passengers. those systems we re the world passengers. those systems were running fine at the weekend so clearly it was a localised event that took out the ability of british airways agent in heathrow to access the system. either a combination network infrastructure or connectivity middleware and british airways have stated that they may not be the root cause but the trigger event certainly was a power surge. but there's got to be a back—up? absolutely, you need to ask, power surges are normal, there are quite regular events and industrial strength airline systems should be completely shielded from power surges. they said that there was a back—up system but that was also inoperable. so a number of possibilit

it is affecting a lot of airlines, easyj et, affecting a lot of airlines, easyjet, one of the biggest the hold, easyjet takes well—being of passengers very seriously and they are working closely with apple to return luggage to passengers as soon as possible. it is worth emphasising this is people leaving the airport, north and south terminals, it does not seem to be affecting incoming passengers so if you are arriving at gatwick you should be able to bind your luggage ok. any idea how long it will last? the allied has been saying all morning they are working to resolve it as quickly as possible but at the moment it is still not fixed. thank you for telling us about that. coming up... former england captain and newcastle striker alan shearer talks to us about security at football matches and the upcoming fa cup final. before monday's terror attack, the election campaign was in full swing. but the tragic events stopped it immediately in its track. politicians put their differences aside as a mark of respect and this morning all of the main parties will begin campaigning again, but how w

we are flying them in, easyjet have sponsored us, we will be training 20 to 30 local psychologists inso you can get yourself back in... and it is nearby. yes, nearby, and we have a website if you want more information which is an a 17. m a 17. alt. uk. good to talk to you, thank you for sparing time. what an extraordinary emotional day it has been a game at saint anne ‘s square as people come here and continue to lay flowers and pay tribute. from central manchester back to you. the court of appeal has upheld a previous ruling that doctors can withdraw life support from a sick baby with a rare genetic condition against his parents‘ wishes. specialists at great 0rmond street hospital said it was in his interest to receive only palliative care. net migration to the uk fell by a quarter to 248,000 2016 — driven by an increase in eu citizens leaving the country. figures published by the office for national statistics show a statistically significant increase in emigration - and, in particular, a 36% increase in eu citizens leaving, compared with 2015. here's our economics correspondent and

manus: let's talk about easyjet.venue at 1.3 billion pounds after having penciled in 1.88. when it comes to pretax loss, it widens. the load factor is improving. there are also a couple other big blockbuster set pieces here in terms of the numbers. that pretax loss has widened quite substantially, more than the market had estimated. 236 million pounds of a pretax loss, the estimate was for a hundred 76 million. that has been in terms of both their costs and mainland europe and hits them in terms of their fuel costs. that they are setting out their view for the future. they are buying 321 new airbus a321s. they are agreeing to buy the a321 neos. they are also going on a recruitment drive to recruit more pilots. that's up from last year as well, for hundred 50 additional pilots. they are hiring new pilots. seeing and improving revenue. carolyn mccall will join the team. she will break down the movement behind that expansion and the shift in the winter schedule. she joins the team at age: 30 u.k. time this morning. anna