union until recently had it only for euro zone, the transactions in euro zone are priced as cheaply as domestic transactions, so, now we're expanding to the whole eu and also for countries outside of euro zone and we're developing a system of instant payments across eu, where basically money can be transferred within seconds, pretty much, everywhere within the eu. so there are many streams which they're currently developing concerning the international role of the euro. >> excellent, thank you so much and i must ask, some do say there's a bit of a geopolitical tit-for-tat happening, that the united states hurts europe in its jugular vein of economic growth, which is exports, and that europe can in turn retaliate with taxation of americans companies. where do we stand on the taxation? >> well, on digital taxation, indeed those discussions are ongoing and yesterday we had a meeting with-- we had a chance to touch up on those issues. well, first of all, what needs to be acknowledged that economy is changing and economy is becoming increasingly digital. at the same time taxation system

on the euro zone economy?>> the euro zone and eu economy, we see economic slowdown but at the same time, currently the seventh year of economic growth, all 28 eu member states are growing. employment levels are at record high. unemployment is down to those levels. all in all we can say we are in a good part of the economic cycle in good economic times. in the context of the global economy, the latest forecast which forecast economic slowdown and rebounding next year in the range of 3.5 sequencing and similarly in europe, we held the slowdown and expecting next year. so there we are indeed in line with global tendencies and that is one of the risk factors. we had one round, the unilateral decision of putting tariffs on steel and aluminum, eu had a response to say additional tariffs on the equivalent amount of american goods, but since then we managed to avoid escalation. .. >> thank you. i think even lurking beneath some of the recovery in 2018 and over to beneath some of these external shocks are some of the u

most of the coffins here cost between one and three thousand euros. less that is not crucial if i were picking one for my own burial i be asking how much am i worth i said or if it's for one of my loved ones what are they worth to me should i shell out one two or three thousand euros and cards when i have not had to ask myself that question so far but it's one that everyone probably has to ask at some point. what are we worth when we die. this funeral home has been dealing with death since one thousand nine hundred sixty one fabiani lensing who heads the family business says the funeral i've picked would cost three and a half thousand euros the price reflects not just the coffin and the flowers i've chosen but also the fact that lensing is available around the clock. as it's different with sometimes we spend five hours with a client then discussing all the details that we might work on the text for the deaf announcement or on the decorations of the funeral service the music there are lots of details and i think you can only do them justice by discussi

and the euro zone and the impact on the economy? >> first of all, the economy indeed, this year we see some economic slowdown. but at the same time the eu is currently at seven years of economic growth and 28 eu states are growing. employment levels are at a record high and unemployment is down to precrisis level so all in all we can say that we are in a good part of the economic cycle, we are in good economic times. and if you also look at this in the context of global economy, and this was also the latest forecast published and the economic slowdown for 3% and then rebounding next year again may be in a range of 3.5 or 8.6 percent. similarly, we follow this tendency in europe and to be bound sometimes next year. and what is the impact of trade on this, it's indeed one of the risk factors. >> we had one round of escalation when the u.s. took a unilateral decision of introducing tariffs on steel and aluminum and the eu came with a proportionate response so to say setting additional tariffs on the equivalent amount of american goods,

a month up from the current seven hundred euros. we're ready to work but we want to see a problem so if the chances of that are looking slim at the moment as the employer association antrim is remaining tough and the same country has always been available to negotiate but this mustn't be done that side the context of a strike should be no negotiation under pressure and with a strike and charm will not start any type of negotiation with the unions because on the third day of the strike the fuel truck drivers agreed to provide essential supplies to hospitals airports and military facilities but as the strike continues fuel shortages are worsening across the country. now to some of the other business stories making news around the world once india's largest airline jet airways says it is suspending operations after failing to find lenders to keep it aloft the airline is sitting on more than a billion dollars in debt jet airways pilots complain that they haven't been paid in four months a total of twenty thousand jobs are at state. span

now the training is down for the night euro high to eight euros.n markets opening slightly higher as investors weigh earnings in the u.s. sentiment was hit after goldman sachs missed estimates and citigroup also retreated just a bit after revenue only maxed expectations. joining us now is caroline simmons, deputy head of the u.k. investment office at ubs, also jim hertling, our senior finance editor. let me ask you -- it seems like the fed governor statements must have done the most to move the market. indications that he could imagine at least a rate cut -- is the fed turning more dovish than the market had anticipated? even from december the fed really surprised the market. they are airing on the side of caution, which we have seen a lot of central banks doing. we will see how the year progresses. all is hinging on whether this global growth pick up some people are anticipating for the second half of the year comes through. if it does, then obviously the fed will be more dovish. if it does come through and we then they can be a bit more hawkish.

worldwide art sales amounted to sixty billion euros last year. the biggest market was the united states followed by china britain and france the largest single group of purchasers are young collectors in asia it's estimated however that a third of the works for sale on the global art market are fakes one famous living former art forger is the german vols gang but he spent more than three decades creating new old masters causing losses to others of between twenty and fifty million euro's interpol says art theft is very big business. the value of work stolen is estimated at almost two billion euros a year. almost half the artworks on the market are sold in galleries. fairs and just two percent of the auction. christie's was the auction house with the highest sales last year at six billion euros. well into the nineteen eighties options of the major houses where society affair people dressed up to attend. in the ninety ninety's remote bidding became common with staff manning a bank of telephones. if around two thousand online options emerged with tra

germany was delaying the move even though most germans rarely pay with a five hundred euro note but now the german bundesbank said the last five hundred euro bill will be issued on april the twenty sixth that is coming friday. just in case you need to know. yeah well pity i sort of spent my last five hundred. anyway and that's it for me and the business teen here in berlin for more business news and background stories check out dot com slash business will follow us on twitter and on facebook and now thanks for watching and staying home was coming up here on the docket. language courses. video. anytime anywhere. the law. to go to the news. channel. the mind of stood. with the exclusive. the must see concerning heart. just. curious. do it yourself networkers odd. subscribers don't miss some odd. i. know i said to me yang is that gabby is only a female paralympic athlete. her next goal is the two thousand and twenty paralympic games in tokyo. and her dream is to bring home a medal. i see two trains instead of close to the capital gang jewel four times a week basketball athletics and we

monitored in africa and the continent talked of all the chance years of a pump explanation ship with the euro. also special program the new elections why they matter for funky dumpy. u.s. banks outclassed european competitors a new study by eve why found that u.s. banks are more than twice as profitable than their european counterparts we go live to germany's financial hub frankfurt to find out why. also on the show ride sharing is getting more and more popular now folks live in launches and use this in the german city of hamburg to get a piece of the action. and wake up and smell the coffee because starbucks isn't the only game in town chinese chain luck in coffee is taking on the u.s. job a giant all the way to now stuck. hello welcome to your business good to have you with us a study by consulting for me why has revealed a striking difference in the size of profits u.s. banks are making compared to the european counterparts and taken together the ten largest u.s. banks last year made a profit of one hundred thirty eight billion euros compare that to the top ten european financial instituti

inflows, 2.5 net billion euros. the company compiled estimate was 200 million euros. that is coming in better than expected. of course, questions with dws talking about potential combinations, questions over whether that will merge with the ubs asset management. let's get to the broader markets. tech was the big story in the u.s. markets yesterday. we saw the nasdaq hit a record. facebook shares doing well as well. the s&p 500 closed pretty much flat because we had tech doing well, but some industrials not doing well. overall, it was nothing to see on the s&p 500. futures struggling for direction a bit today as we look ahead to the gdp data. ahead of that, the 10-year yield. the bloomberg dollar index not doing a lot, but it is heading for a second week of gains. we have seen it hit a four-month high. euro weakness has been a bit of a story. we stay at the 1.10 spot. msci emerging market currency market -- index. the weekly loss could be to do with dollar strength. you also have the argentinian markets roiled yesterday. as thea also weakening, central bank took away t

definitely on the euro. if you look at portfolio inflows to the euro zone, they have been muted. the only real thing standing to the euro's favor is surplus. where we see that deteriorate, it stands to reason the euro could fall off a cliff. certainly would trade at lower valuations. nejra: are you looking to add to equity exposure based on risk markets? or is it time to reassess? that in riskserve equities there are still great long-term opportunities. that are able to maintain high margins, able to experience secular rather than cyclical growth -- the premium is elevated relative to history. -- deflation in many markets rather than inflation. we could see multiples rise very significantly. nejra: are you getting more defensive? >> i am not getting classically defensive. what i am doing is saying, where does growth reside the next five years? grow.re will continue to a number of the consumer staples are extremely well-placed. the resultssaw from yesterday also very well-placed. nejra: if we dig a little more into the em space, one thing that has been interesting and we can see t

we talked about the euro zone numbers. we're seeing a bit of a spike here 112.40 is the mark up three-tenths of a percentage point. can you see that the picture is green across the board we've had -- well, i would say a royal flush of positive services numbers. we had china coming in very strong we had euro zone numbers coming in very strong later on today we get the u.s. services numbers as well the ism non-manufacturing, all eye on that. it looks as though the u.s. markets are set to open up in positive tear trritory as well. >>> vestager's campaign to become the next president will focus on fighting climate change the european competition commissioner also said she is aiming to raise voter turnout for the parliamentary elections in may what else did she say about the pranz to become president of the european commission? >> the position is slightly different from the other candidates let me explain this process, which is a little bit -- the european parliament, every party in the european parliament puts forward their ow

and euro zone inflation, it looks much better in the euro zone then in the u.s..really have to pull out all the stops, but if they do, i think tltro's are h -- our how to do it. matt that there will probably be a slight subsidy from the banks, although i think they are trying to wean the banks off of the tltro's. it will be a subsidy, but less so that the last one until we get the real science of a downturn, and then we make it something more positive. alix: when we take a look at euro-dollar and rates, what is going to lead it? is it going to be the market in 2020,n two fed cuts or the ecb more on hold and looking at tltro's? is that theink it markets are too dovish about the fed. d markets have priced in with certainty one rate cut by the end of 2020, and i think there's two rate0% chance of cuts. i think the u.s. economy is stronger than the market implies. the dot plot still shows one more rate increase. it will be interesting to get the fed minutes to see what the discussion was in that last fed meeting about the summary of economic projections and expectatio

this euro-dollar will increase.think the fed is going to .ave more of an easing policy this really creates a picture as we get more u.s. data that seems like good news may no longer be good news. manus: great roundup. --'s bring this conversation we are going to go to the first word news. echo -- doing?ng >> thanks. outlook with crisis hitting sedan. the white house is aiming to curb iran's influence in the middle east by cutting oil experts. later today will be will be -- we will be speaking to the imf director for central asia. southwest airlines found out after a deadly crash from lion air. to anure was connected indicator available for a fee. warren buffett's real estate brokerage is expanding to the middle east. andam of 30 advisors support staff. this comes at a time when the isrates property market extending its slump from 2014. s&p expects prices to fall as much as 10% this year. avengers end game has a box office records. it's an earned $350 million in u.s. blowing through the record set by infinity war. wi

already close to one billion euros have been raised. the government will present a new bill next week to ensure transparency over how the money will be spent it will also allow french citizens to get special tax cutsf they makeke it the nation that rush has the detail. cutting taxes to help restore notre dom. on wednesday france proposed new fiscal measures to spur individual contributions. the whole city french people who donate to the reconstruction of notre don will benefit from an increase reduction in their income tax you. under the government's proposal individual donations of up to a thousand euros can have 75% of the amount deducted from their income tax. donations above a thousand euros would receive a 66% tax deduction the standard rate already defined by the law which limits rebates 220% of annual salary. but the proposed individual tax cuts come amid critique of the existing business tax cuts. under frerench law businessesesn deduct up 260% of their donations to nonprofit organizations. as long as the deduction amounts to le

so, ithink 600, 700 million euros at the moment.the scale of what people here were facing and the doe fors have been here from france, they have been apple, they are donating from all round the world, andi donating from all round the world, and i think it encapsulating what a global monument this is and how the shock, the relief, the determination thatis shock, the relief, the determination that is felt here in paris is felt round the world as well. thank you very much. and the time is just coming very much. and the time isjust coming up very much. and the time is just coming up to quarter past six. our top story this evening: there've been pledges from around the world to help rebuild notre dame cathdral after last night's devastating fire. still to come: just how long have we been chucking plastic into the oceans? coming up on sportsday on bbc news: the rfu has their say on billy vunipola's online conduct, as the england star gets a formal warning for defending another player's anti—gay social media post. labour have announced the

stocks euro 600 it's down .3%. it is not just the macrotoday. we've had a bunch of corporate earnings as well we're right at the heart of earnings season. i'll talk more about that. let's switch on and talk about the individual forces, though. starting off with the ftse 100 here we're trading yet again a little weaker to the tune of about .3%. remember, we've been talking about the weakness in minors the last couple of sessions. weakness in asian equities overnight also playing its hand in the ftse 100 performance. bear in mind in about 20 minutes time we will be getting the retail sales data watching for that very closely, of course getting signs of the health of the u.k. consumer. we just talked about some of the weakness we've had in the manufacturing numbers. that came out in the pmi having an impact here we're down about 40 points .3%. also weakness in the cac, and this is interesting because while we did see a bit of a rebound in the services pmi, he at the end of the day we're at a 30-month low again, the waebness being translated there f

that it there, we know is such in a year -- 2 billion euros in a year. far as banko santander, we are getting headlines out of italy. the ftse mid is just about to enter a bull market. it is about 20% on the nose right now up from its low. is now in a bull market. if you care about that market, i think you should reassess your priorities. but it is up there, 20% gain from the lows. we also have turkish inflation headlines coming out, 19.7% from 19.67% in february, superhigh, regardless of where you look. finally, maybe some bad news for europeans on vacation. brits are going to be able to travel through the european union without a visa. to the eu, they have just reached an agreement on visa free travel for brick. brits. does bachelorette parties will continue across the visa from great britain. up, we speak to bank of santander's executive chairman. this is a huge deal, a huge legacy and an important bank in spain. that interview coming up at 10 a.m. new york time, 3 p.m. in london probably makes more sense to tell our viewers. --00 a.m. london, 10:00 p

the euro it is pretty much -- the euro is pretty much steady.these snap elections, pedro sanchez coming back as prime minister. you can see european stocks are flat, tom. tom: my chart looks at how the did last night. spoiler alert, we're not going there. i think it is a great chart. you have from the middle of 2017, the stock and the bond price of tesla. and what is great here is that the equity price shoots up at the end of last year. they are both down about 15%. francine: i know you have seen we will noones and longer be on speaking terms if you spoil. tom: i understand the sensitivity of these things. i have not seen avengers. i am starting with avengers 1 and i got to 38 minutes before my brain cells started going. isncine: the newest avengers three hours. no spoiler alerts when we look at volatility. we will see this low vol environment. stay with us about longer. investors bracing for a slew of economic data from around the globe this week. on wednesday, fed officials concluding a policy meeting where investors do not expect a change. it

perhaps this might give a reprieve to the euro.t see an edge higher in the tenure bund yield. 10 yearr bund yield -- bund yield. yesterday, we saw u.s. equities at a sixth straight day of gains. the stoxx 600 closed .25% lower. not getting huge amount of direction. ftse 100 and dax flat. slightly toever so the upside. i talked about how we saw yields move lower. we were back in negative territory and we stay there at the moment but as i said, we could see the 10-year bund yield edge higher. that is indicated by the futures. we could see a similar picture in btp's and in the 10 year treasury yield. we are two basis points on the 10 year treasury yield. we bounced back from the low at the end of the march at a 2.35 handle. a lot of the houses out there, all revising down their 10 year yield forecast for 2019. the bloomberg weighted average sees the yield ending at 2.96% at the end of the year. dani burger has more for us. a couple of big markets closed. talk us through the details. dani: with china and hong kong closed, we are seeing

euro come prove it since. you want to look at the new school. you want to be put on a loved one. when you're sick the doctors know when you fall in love they won't. you don't have children for fear they'll be invisible to. have knows. when you've gone there's no. every ten minutes. someone. ten million people in the world the stakes they have no nationality and the total made up along. with everyone has the right. everyone has the right to say. welcome to news from the world. well being in the city of volume i have a look at the new bauhaus museum also coming up. an exhibition exploring the complexity and diversity of muslim fashion arrives in frankfurt. and a new london exhibition celebrates the work and influence of iconic british fashion designer mary quant. throughout this year there are numerous events celebrating the one hundredth anniversary of the beginning of the bauhaus school one of the most influential movements of art and design in the twentieth century and is still influencing our design all over the world today but our house was founded by visor gold piece in the c

one thousand euros in germany. is the man who was overall impression is that the mazda three is a really great car that doesn't have any faults it drives well it looks good and it's also well built the only thing he would like to have seen would be the option of a bigger engine maybe a two point five liter petrol engine in the order of one hundred eighty kilowatts that would even give cars like to go out as three or are as a run for their money it wouldn't be a problem to add an engine like that but without one it's not an alternative to those cars if that. was. first sadie's has unveiled its new am she a thirty five for matic it comes with a seven stage to a clutch transmission and am cheap performance four wheel drive. this engine variant has two hundred twenty five kilowatts which propels it from zero to one hundred kilometers per hour in four point eight seconds the price has not yet been published but it should be just under fifty thousand euros. and b.m.w. has revealed its eagerly anticipated new seven series

the losses for the industry are about 7 billion euros a year. there are benefits from increased lending. the ecb itself doesn't see immediate impact. vonnie: the very idea of , does thatering change market sentiment? does it make it more obvious that the ecb has plenty of ammunition, back to the mario draghi whatever it takes phase? >> that's a good point. we are hearing from the ecb -- the sense is they will review it and they are trying to flag it as a potential instrument they would have. if theyld allow them had to cut rates even more to introduce that measure to allow them to mitigate the adverse effects. so far, we are not seeing that. they haven't discussed taking rates even lower. peter,ank you very much, joining us out of frankfurt. let's check the bloomberg first word news. >> the wealthiest companies and individuals and france among those who pledged to donate 452 million dollars to restore the notre dame cathedral after the devastating fire yesterday. the family of the gucci owner will donate $113 million. the family that controls an

francine: you wrote a book euro." that sent waves across the euro area. extricate itself from the e.u., is the euro dead or will it solidify it? joseph: the problems of the euro i wrote about then are very much with europe. you are seeing it even more strongly than the u.k., which is not part of europe, and italy, which has not had growth for two decades. the mechanism that normally would have enabled italy to restore growth would be a lowball -- lower real exchange rate. they cannot do that. what we are seeing in politics as more and more anger at the euro and europe. the way this is manifesting itself is the growth in the extreme right parties, and parties which are anti-europe. the risk to me, over the longer-term, is the real risk to the euro and e.u. tom: i want you to sell these ideas not to paul krugman or senator warren, sell this to conservatives who are scared, and there are a lot of them out there. they do not like you but they like a lot of what you're talking about. how do conservatives trust you and other liberals to take us away from a gild

the reconstruction is likely to cost billions of euros. as funding gets under way a few words of caution about online donations so many sites have sprung up and are being circulated on social media. a french company called giving with confidence has issued some guidelines they include confirming the organization's stated goals are clear and coincide with your wishes. contacting the group directly to make sure someone's on the receiving end. and especially on crowd funding sites looking closely at where the m money will l actually be channeledd. of course tragedy like this fire can bring out the best in people but it's important to be aware of possisible scams as well. moving on some of these other business news the check on the global stock markets. made european indices closed moderately higher the docks boosted by the landau shares of german online retailer up 11% on strong earnings forecasts. italian bank unicredit up 3% after it reached a settlement with us authorities over alleged sanctions violations. wall street's trending higher is

this transfer value three million euros. and what did halo do after three minutes of the rematch shuttles the ball want to close john gunter he didn't hesitate before crossing it back one male favela i dream start for the underdogs freiburg sport ball romantics were through the roof and on looking yogi live probably felt justified in dropping jeff obo attacking and mats hummels from germany of but it was far too early for us to start celebrating. the giants for munich were pegged back to stan going to who came up through the youth ranks and has been in freiburg a decade marched through byron's multi-million midfield the ball fell to bite france. this time byron's dusty rhodes cut deeper were there in time to clear off the line. byron were reduced to an average side in the first twenty minutes of the match but then a magic moment led to the equaliser. of all that eleven dollars stayed with his one hundred ninety ninth wonder sleeker goal this is precisely the breathtaking individual class that byron pay top price for. which f

line trim starts at just over thirty nine thousand euro. the charge for romney says the automatic transmission changes gears smoothly the one hundred kilowatt one point six liter turbo d. well does what it's supposed to he says but compared to competing models it lacks some liveliness responsiveness and pulling power but it's fuel efficient and burns a maximum of six liters per one hundred kilometers. and keeping with its dynamic appearance the new up to most sports wagon suspension provides agile handling and especially stable front suspension and the cars and fish and multi link rear concept in short high right comfort and little engine noise to kill ronnie sums up by saying this key is the perfect companion for those who can live without the prestige value of a luxury brand and are mostly interested in practicability economy and especially value for money. the entry level up to most sports wagon is already available in germany for just under twenty six and a half thousand euro s. . in the early one nine hundred sixty sirup was experienci

here we have the euro-dollar. oute's a lot of data coming of the euro zone. french and spanish gdp numbers tomorrow. we have an interesting call from goldman sachs. the chinese economy is going to help with european growth. let's get over to mark cudmore. mliv our bloomberg managing editor. what do you think about the possibility of second half rebounding the european economy spurred by the engine that is china? >> that is the base case we have been discussing. we will probably see an uptick in european data in third quarter because the chinese data appear to bottom out in the second quarter. we expect european growth to pick up by september time. we think that means there will be a more positive stance toward the second half of this year. it is important to emphasize the's going to be a positive .urnaround it is not that europe is going to be going gangbusters. it is that we are going to remove the negativity that was there. europe tends to be positive on the chinese economy. that is why we have seen europe so negative the first part of this year. it is a ca

euro skeptics could force brussels into a rethink in bags and talks if you get fifty euro skeptics or even thirty euro step to which i think would be a reasonable number you have to see where the concern is for the european parliament they know that this election is a big election for the european union because they expect and the polls are showing that about one hundred sixty to one hundred seventy euro skeptics will come from germany sweden italy hungry conan and if you have thirty british m.e.p. the number there for could be up to about two hundred and two hundred opponents of the european union could make a lot of trouble if they do see large numbers of euro skeptics all joining up together creating problems in the legislative process delaying it slowing it down or maybe even stopping it and that will give an impetus for the council of the commission to perhaps say maybe we can renegotiate in some way so that we can get these euro skeptic brit's out. state of emergency is now in force in sri lanka following a spate of bombings on easter sunday that left two hundred ninety people d

japan's soft bank is to invest nine hundred million euros or a billion u.s. dollars in the troubled fifth financial technology company why is the german firm specializes in providing electronic payment this is it was a rising star of germany's thin tech sector but has been shaken a series of financial times articles that made allegations about its operations soft bad which has a robotics division will gain a stake of more than five percent in wire cards. it's also worth talking about a little bit more in detail now with our financial market correspondent canards first of all what is a soft banks is trying to do strategy there why are they interested in wild card you know want to. is really big in handling financial transactions on the world wide web and soft bank this is not only a fixed line photo operator in japan this company and its owner mr masayoshi some of this is a huge investor in everything tech in the idea that tech will rule in the future soft banks invested over for example alibaba yahoo japan slack and many many other companies and obviously sof

anger at the millions of euros pledged to rebuild the cathedral following monday's devastating fire by the activists say their demands for social reforms but being ignored. the future it's shocking given the state of the country giving to notre dame is all very well but maybe this is not the time to talk about it's not the time to do this. it's the twenty third consecutive weekend of protests against the administration of president emmanuel mccraw actions taking place in the capital paris and across france. we're still expecting answers from the government there are democratic social and environmental emergencies for which we still have no answer of. course we were protesting even if my wife nor i are the last or learned of. plates of violence flared in the capital as scooters and other vehicles were set on fire. as in previous protests the police response was forceful. tear gas and water cannon deployed to disperse the protesters. the blaze at notre dame may have united front since shock but so far it's done little to heal the deep divisions over poverty and inequality. our correspond