in europe. they paid at least $2,000 each to the smuggers. >> i think it's a very big business to take from one person $3,000. >>reporter: so you're not angry? they're just doing business. >> no. they're doing business. they're not forcing you. it is their wish. >>reporter: and dhe not mistreat you on the boat? >> no. >>reporter: at the station, a group from sudan are trying to cobble together the money to take the train north. this is the escape route for many because the majority we've spoken to say they have no intention of staying here. they think of sweden germany, and the united kingdom as countries they'd like to get to. in other words sicily and italy is just one stage in their long and dangerous journey. but all the time more are arriving on sicily's shores. back at the harbor the italian coast guard brought 80 africans into port. they celebrate their survival but know they face many struggles to come in europe a continent that does not want them. >>> paul brennan sends us this from the

of course europe must not turn everyone away, but europe also cannot accept every african who wants to come here. >> opposition politicians say european policy needs an overhaul and tha no migrants should deal desperate enough to put their life in the hands of smugglers. >> we all agree that we need to hold smugglers and other criminals to account, but more than that, we need to take away the demand for their business. having a secure legal route into europe takes away the need for traffickers. >> members did agree on one point -- that the eu needs to step up rescue operations on the mediterranean. details of the mission are expected to be revealed at an emergency eu summit on thursday. for these protesters outside parliament, action cannot come soon enough. >> on monday, european union foreign and interior ministers did agree on an action plan for tackling the mediterranean migrant crisis. >> we reported on that right here. that plan will top the agenda of the emergency meeting in brussels tomorrow. here is a look at what is inside that plan. >> it's a tragedy in the mediterranean. an

that is not the united states europe.in our joint efforts to ensure success europe can be an effective help for the united states only if we have a fiscal economy. that is what we are trying to do. we are following our own formula >> thank you very much for a very comprehensive and focused and relatively short speech which is sometimes rare in this room. it's very good. let me ask the first question on the spending issue. you said spending should not grow faster than gdp. you talked about government spending as a whole but as you know there's a lot of debate that spending that creates productive assets including digital age education, and frustration are actually creates more. at the time when germany has a 300 billion-dollar plus in the balance don't you see a much more important role to public investment which doesn't have to be physical? the right come kind of education in the digital age is part of that. isn't that a win-win situation for everyone? germany's growth rate goes up and the surplus goes down and to some de

coming to europe even in europe, if european integrate will be majorities, all over europe, to defend european integration. european integration, at the basis, it's not disputed. even to so-called euro skeptics, if you ask, do you want -- are you not in favor of your opinion? oh, yeah we're in favor. it's standard to actually -- not completely. there's no huge dangers that we really face in nationalism, in the part of europe it's the european union. russia is moving -- the putin government is relying on provoking nationalist sentiments which is the short term successful but not the long term. quite then we have to care what we've been doing in europe. you can't understand how decision making works. strong government is in favor. someday, we'll get it. to make it more sufficient, transparent, european parliament. not every member ahead of state and government liked it. i won't quote one, but you may have followed it. the role of the european parliament has been strengthened after the last election. then we have to -- if you tell people whatever they agree, it's not worth it because the

this is what europe's leaders are grappling with. increasing the number of sea sea patrols won't make much difference because that's turkey right there so close. behind the wire are the latest to be picked up. in the dstans, a turkish town. already this year more than 10,000 have arrived in greece. europe's leaders talk of sinking the smuggling boats but this is what they use. and the arrivals crowding around us said as long as europe doesn't provide legal ways of getting in, they will find other routes. amir is from iran. >> i want to move from here to another country to find a new smuggler, you know? >> europe's beaches awaited the summer holiday rush. meantime, the human tide looks unstoppable. the question, will europe take them in or turn them away? katty: the journey is expensive and dangerous and increasingly fatal and yet thousands ever still trying to plaque it to get to europe. a quick look at other news from the around the world. security forces in iraq have confirmed that a new emir has been re -- appointed leader of the

europe's powerhouses, forget greece for a moment, europe's powerhouses the surplus economies of northern europe countries who are turning the corner rely almost exclusively for doing so on building up either in relation to whether you're some member states this is an intra-european zero-sum game or against the rest of the global economy. a global zero-sum game of the kind that we have thought was confined to the distant past around the bretton woods conference. the combination of high public and private debts of low investment, blow interest rates and generalized austerity is causing europe to address its crisis by exporting it to the rest of the globe while undermining further the real economy of its own peripheries come at the of the eurozone and peripheries within the dash put simply the current policy is turning europe into a capitalist force that behaves as an exporter of savings and an exporter of deflation but even more singly if china's external balance was if problem a few years back i believe there is good cause to think of europe as a greater concern for the global economy. no

stays in europe this will slow down any process of further integration within europe. you so much for joining us today. we have covered quite a lot of ground. the rothschild deputy chairman there in a nice bloomberg exclusive. jonathan: guy: still to come we're going to talk twitter. disappointing results. what does the company need to do to regain the confidence of investors? we'll discuss that later in the program. ♪ francine: welcome back to "the pulse" live from london on bloomberg tv. guy: the british bank barclays has posted a gain in the first quarter matching analyst estimates. despite claims that the bank rigged currency benchmarks. they raised 1.8 billion pounds year-on-year. francine: samsung is betting on the new galaxy s 6 smart phones. it got positive reviews when it was released this month. guy: goldman sachs' regulatory filing has revealed it gave up its highest ranks since august of last year new partners are -- every other year. the most recent 78 joined in november. francine: twitter tanks. shares plunged after the company's results were leaked early

europe needs to wake up. >> europe is becoming more aware. most migrants leave for richard countries quickly. unlike these afghan 15-year-olds. being looked after in rome. they asked not to film their faces. they hope to slip invisibly across the continent. >> wordy want to go? >> sweden. >> the u.k.. >> from here to paris, then england by getting into a car from a car into a ship, and across the water. >> they know the situation in italy is hard. it is an economic crisis. they think they could find a job . they just want to pass through italy and great other countries. germany, sweden, and the u.k. for example. >> the face of europe is changing. too fast for some. the recent surge of migrants arriving and dying in european waters demands action. it is decision time. and also a moment for soul-searching. bbc news, rome. katty: what more are you hearing about this land of going after the traffickers? >> that is what everyone wants to know. it could still change. what you're talking about concrete plans to target people traffickers. people who

this isn't just a criticism of europe. global demand is weak and china is making transitions toward a consumer-based economy but that means they will not grow as fast and that means suppliers of raw material to china are seeing their economy soften. what i said to the europeans is don't expect the united states is going to be the engine for everybody. don't expect that you can keep on selling to the united states but we cannot rely on you because your economy is so weak. that will not benefit anybody. and those are concerns i expressed across the border and the last point i would make is this applies to greece as well. greece needs to initiate reforms. they have to collect taxes. they have to reduce their burrocracy and have more reflective labor practices. when the new prime minister came in i called and said we recognize you need to show your people there is hope and you can grow. we will be supportive of some flexibility in how you move forward so you can make investments. it isn't just squeezing blood from a stone. but

versus europe europe beating a low bar and the u.s. missing a high bar. is that still the story? guest: what worries me about the u.s. is the percentage to which corporate earnings have been mashed out. they are buying back their share and not increasing operational earnings just increasing operational earnings-per-share by shrieking the share base. that ultimately means they are investing lest in building stronger long-term businesses. in europe, we have a corporate culture beginning to come into shallow focus. jon: when you look at the noise out of the federal reserve william dudley talking that the rate path will be shallow. how unfortunate is that? guest: what they are actually doing and how are they taking action? the third issue is the extent to which the fed thinks about long-term implications of the global economy in determining how it should move. i think the needle is moving more against the previous consensus. jon: there is some ugly data in the u.s. equity markets pushing high, equity data in europe also pushing high. it is the minus leading the gains. james bevan wil

on europe?u think we will see more your u.s. into europe feels? >> the obvious factor is the fx. for growth being short, it is an opportunity for u.s. companies to look at growth. francine: megamergers are very difficult. you may have the best intention in the world. are there secrets to getting these right? if you look at lafarge and holcim, they seem to be sitting better because the culture could speak -- could be similar. gareth: these are complex transactions. i think it is a function of getting the right synergies that you mentioned, the right corporate fit, and from an antitrust perspective, that is key as well. guy: the personality story nearly tripped this deal up. how important is it to get personalities right? increasingly, it looks like it is. when we went through the previous m&a cycle, i thought it would play a lesser part. it seems this time around, i'm hearing more and more stories related to personalities. gareth: you are taking a very small sample set. you are right, it is a key

europe put together an action plan over its approach. egypt's former president mohamed morsi is sentenced to 20 years in jail. it could be the last trial of its kind. a german court examines charges into a former nazi accused of complicity and hundreds of thousands of deaths at auschwitz. he has asked for forgiveness. also this hour, we will have a look through the international papers. florence villeminot reporting on the taking of russia's giant gas industry. eu preparing to take gaszpr om. your watching live from paris. ♪ italian police say they have charged the captain of the boat involved in the mediterranean's worst migrant disaster. the u.n. says at least a hundred people died when it cap size off libya over the weekend. the man was among 28 survivors who arrived in physically and was arrested alongside a fellow remember. reporter: a long way from home among the 28th survivors of sunday's disaster are people from mali, senegal and bangladesh. many survivors are syrian, like the captain, charged with human trafficking and multiple

at one point we decided they move to europe. they are not welcome in europe. the drip is dangerous. losing the family members, and they told us we have nothing more to lose. i think that sentence to me describes the despair that is prevailing among the population. >> it's a terrible situation for millions of people. >> thank you. president obama and congress have come to terms on a nuclear deal with iran. the compromise gives congress a say on the agreement. it's one the president agreed to sign. >> an american that spent 444 days as a hostage in iran talks about restitution and his views on the changing relation between washington and tehran. >>> welcome back to al jazeera america. i'm antonio mora. >>> coming up looking in boko haram's rein of terror in the year since the group abducted 276 schoolgirls. >> mexican police trying to battle drug cartels even though they are not using police or bullets. >> congress may have dissolved a road block with iran. a compromised bill to give congress a say on agreement was approved. libby casey joins us. what does the compromise bill do? >> t

the premise are again urged europe to contribute more. -- the prime minister again urged europe to contributeore. four strategies, first, and the most recent, to use force against traffickers with a military operation aimed at identifying, capturing, and destroying both before -- boats before they have the water. a similar operation is in place in somalia against 2008 -- a similar operation took place in a small somalia against pirates in 2008. the second, to reinforce the mission led by frontex. european leaders wants to double its monthly budget from 3 million euros to 6 million euros. thirdly, accommodating a number of migrants provided they have refugee status. the draft documents suggest just 5000 a year. northern european countries will be asked to show solidarity by taking on some of these new arrivals. at orting to british his paper "the guardian," the others will be repatriated. >> people in need of protection of course must be accepted in europe, the european union, but people who are regular migrants, they do not have any right to settle here. reporter: to that end, europe suggests

europe. one of trade and friendship. take back control of our borders and put in place an australian style point system and 77% of british people want something down. >> nigel farage thank you. nick clegg. >> i will never spread fear about immigration because i think we just need to remember there's basically good immigration and there's bad immigration. in a bad immigration of course that needs to be stopped. that's why i've introduced new checks for the border to bare down on illegal immigration. people now want to seek benefits, they have to learn english. there's also good immigration. we should remine a generous open hearted nation who wants to come here and pay their taxes, create jobs. if we turn everybody away the nhs would collapse overnight. so i guess my approach could be summarized a this. i want britain to be open for business but not open to abuse. >> nick clegg thank you. natalie bennett. >> in turns of european immigration, we celebrate the immigration. many britains have been

japan, the u.s., much of europe, interest rates are at the zero end. that is not the case with china. the central bank continues to have space to cut ratio and interest rates and i think our expectation, the expectation of most of economists out there is we will see further moves on both of those fronts in the second quarter. jonathan: a big thanks for joining us. china expert tom orlik. we are joined by a global asset allocation strategies at ubs investment bank. you heard tom speaking. let's talk about what the people are doing over the weekend. for you, the move on friday let's talk about equity markets margins around lending. those things, are they link? guest: the property market and that's the most important thing. the thing to remember is the size of the urban population is growing by 1.5 times the size of london every year. there that in mind. a lot of people about 300 house buyers and they are looking to upgrade. they are looking to buy a nicer house and looking to buy something perhaps more expensive and they are funding that through mortgage

renzi are changing in europe. there are pro growth policies, especially with the ecb taking action with qe action. is that enough? have europe and italy done enough? is your complaint over germany over? and did you agree or did you discuss the sale of drones to italy? thank you. >> translator: three questions in one. you just asked. three questions in one. >> a special offer. >> a specialist at that. >> translator: first of all, the timeline for reforms -- i think that i can safely say that the american investor who is wish to invest in italy, but italian investors as well, finally have a labor market which is more flexible. this has been achieved. let's say that we have done this. with, then they have an institutional system, the taxation system public instruction, in the next six months, everything, all this reform will be done. so what needs to be made absolutely clear is that even if in italy everybody wants to start or many people would like to start from scratch again, reforms have begun. they're on their wa

how should europe deal with migration?ll round up some of your answers in about an hour and a half from now. ♪ guy: welcome back. you are watching "the pulse." we are on bloomberg television. let me show you what is happening. thursday and friday not great for the equity markets. today we are bouncing back. should we think the chinese for that? maybe. if you think about various issues in the global market, the back end of last week, people were getting concerned about greece. does china trump greece? nevertheless, equity markets on the front foot again this morning. francine: if you look at the greek 10-year, those yields have been rising quite significantly. check out the german 10-year. in the bond markets, this may be the week. this may be the week that german 10-year yields turn negative for the first time. could be this week, could be next week, it could never happen. if you look at the trend, money gets piled into german bonds. guy: the question is, does it really matter? francine: negative yields -- guy: i guess we

it's all of europe. think it comes across all the boarders. >> outside of poland what's your top pick. >> we're invested in slovakia, hungary, romania. we're actually seeing growth in a lot of these markets which is quite compelling. so our first closing of our second fund is coming up this week. investor appetite is there so we're pretty pleased with that. >> those fears of a bubble brewing, have those been subsided by a recent fluctuate in prices? >> from an american perspective, 2-thirds of the capital comes from america. europe is on sale now. it's quite cheap. we look at the bubble and sort of specific -- i'm concerned about the property bubble. so it's understanding the specific markets there. >> thank you for joining us today. >> the managing partner. now the russian president is calling his annual call in show later today. what question would you put to putin particularly if you were told he would be honest with the answer. get in touch with us and e-mail us worldwide at cnbc.com. cnbc wex is our

in europe, it is all about greece. the clock is ticking. they have keenly awaited salaries and will they extend the emergency liquidity they provided to the banks? the euro-dollar is flat and we await what happened with greece. we expect the decision today. this is the 73rd month we will see record borrowing rates. cameron has come out as a prime minister with no rate change under that tenure. the pound is flat and looking at the bond market the same borrowing costs back in those days. >> that was showing the level of stress. many feel that, come june, we will get a deal struck. interesting comments coming earlier. let's look at the stocks on the move. a bit of a difficult reading. this is some tests. it is actually a higher up. it is starting to show some consistency and improvement. >> the positive update is above where they previously thought. they got the chief executive and the creative director starting to show some moves. it is down by a percent. there was news headlines and one they thought would be snapped up. corrugated packaging,

europe is in financial trouble. people are disillusioned with politicians, there's a perception that europe may be more vulnerable to attacks by i.s.i.l. it's a tricky situation. what do you think e.u. politicians should do what will the elect rates let them do. >> you are right. there's a political paralysis, where politicians allowed them to be dragged down an anti- anti-immigration pass whereby they are enable to deal with the crisis. and blame immigrants for their own failings really. what happened in europe and recent years is systematically europe's external boarders are militarized. it cast refugees not people in need of hep and protection. as some kind of criminal threat. now is the suggestion that i.s.i.l. - there's a risk that i.s.i.l. may send occupants over and it's the latest iteration of exaggerated fears about the threats migrant pose. in fact. europe's border policies are a threat to the refugees. these are the people. it's crucial that european politicians have the courage to step forward and change

they all have the dream of reaching europe. i asked if they had heard of the events the past week and some said yes and some said no but all said despite the threat and danger they will still take their chance if they can and try to make it to europe. for many of these people it's their only hope for a better life. one young guy i was speaking to said i cannot go back home. there is nothing for me. at least with that trip i do have some hope. otherwise, by staying here i have no hope whatsoever. now, their situation is very dire because they don't have anything anymore. the trip to reach this point is extremely dangerous. they lost their passport don't have money anymore. some told me they have not spoken to their family in months. so it is a very dire situation. not only for them but for the libyan authorities. especially this particular moment when the world's attention is on this crisis. some of the people responsible of this holding center told me what do we do with them? okay. let them no ga. and when they go others will c

so this is not just a criticism of europe. i think globally all of us have to recognize global aggregate demand is still very weak and china is making some necessary transitions towards a more consumer based economy, but that means they won't be growing as fast. and suppliers of raw materials to china are seeing their growth soften. and don't expect that the united states is going to be the engine for everybody. don't -- don't expect that you can just keep on selling to the united states but we can't sell anything to you, because your economy is so weak. that won't benefit anybody. and those are concerns that i have expressed across the board. and this finally, the last point i would make. this applies to greece as well. i think matteo is right, greece needs to initiate reforms. they have to collect taxes. they have to reduce their bureaucracy. they have to have more flexible labor practices, and when the new prime minister came in i called him and i said we recognize you need to show your people that there's hope and that you

but it's helping europe and europe has been in trouble for a long time.he first really robust looking growth in europe for a long time. oil prices are the first thing doing that. the very low value of the euro 13%. tom: professor rogoff does not wake up sweating about a euro going through parity. ken: not at all. there comes a point where it's overshooting. when monetary policy shifts comments change rates -- ships come exchange rates -- shifts exchange rates change too much. tom: we will talk about the idea of china in the obama administration. coming up later, the former prime minister of latvia. he will join us for a conversation on his baltic state. putin and europe. this morning, my conversation with christine lagarde. this is "bloomberg surveillance ." ♪ brendan: this is "bloomberg surveillance." tom is indie scene for the imf meeting. vladimir putin expects international sanctions to remain in place for some time. -- tom is in d.c. for the imf meeting. one of the topics is the ruble. the world best-performing currency after falling 46% against the

you have heard things are changing in europe. there are progresses especially ecb taking action with qe action. is that enough? have europe and italy done enough? is your complain over germany over? only -- did you agree or discuss the sell of drones to italy? thank you. >> translator: three questions in one you just asked. three questions in one. first of all the time line for reforms. i think that i can safely say that the american ambassadors who wish to invest in italy but italian investors as well finally have a labor market which is more flexible. this has been achieved. let's say we have done this. then we have an institutional system the taxation system public instruction. in the next six months all this reform will be done. what needs to be made absolutely clear is that even if in italy everybody wants to start or many would like to start from scratch again, reforms have begun. there's no way anyone is going to block them. people that wish to invest at this time find a labor market which is simplyifiedsimplified. they fi

this morning, we focused on our shared security starting in europe. we agreed that the international community needs to continue supporting ukraine with robust assistance as it pursues economic and political reforms, along with our international partners, we strongly support the minsk agreements and agree russia and ukraine must fulfill all the obligations under these agreements. i thanked the prime minister of italy's strong support for the international coalition against is isil. italy by the way is one of the largest contributors and advisors and trainers to help build up iraqi security forces and italy is leading the effort to ensure the area's liberated from isil's control or stagized with an effective civilian police force. we also spent considerable amount of time discussing our deep shared concern for the situation in libya. where we continue to support u.n. efforts to form a unity government, given italy's leadership role across the mediterranean the prime minister and i agreed to work together even more intensively to encourage cooperation o

new questions -- to europe. new questions on how europe should react. the italian prime minister has called for major emergency talks by the end of the week. we will have more from our brussels correspondent in just a moment's time. and the chinese president is in pakistan to unveil a $45 million investment plan that the country hopes will end the energy crisis and transform it into a regional economic hub. also coming up for you this hour, can china's drivers be convinced to go green? we will have a report on the challenges facing electric carmakers there. and from baby fashion to bookmakers' betting an a-z on the upcoming birth of the new royal baby. that and more coming your way. first, our top stories. first, hundreds of people are feared dead in the new migrant shipwreck off the coast of libya. one survivor says there were up to 950 people on board the ship and that some of them have been locked -- have been locked below deck by smugglers taking them to italy. it could be the deadliest migrant disaster to date in a year already heavy with victims.

there was a fear increasingly in the united states that if germany won in europe, it would make europe inimical hostile to the united states. it would become more vulnerable to threats from europe. on december 15 and december 1915, wilson and his state of the union speech talked. it was focused on military preparedness. he developed a new five-year plan for the navy, which was approved by the senate. in june 1916, after a great deal of debate in congress, a national defense act was approved, which increase the army to 223,000 people. this is a market increase. this was cast in terms of defense of the united states not of getting into war. you can see the similarities between the debate it took place in the united states before 1941. what you also got was an interesting debate in the united states about what the proper role for the united states should be in the world. it is a debate i think which has occurred throughout the history of united states. i think we see it again today, a debate about whether the united states should be internationalist, whether it should get involved in the

that is a key reason to sit with europe. europe won't be so badly affected.e liquidity support on the ecb relative. relative m1's picking up much faster. when that happens europe tends to outperform the u.s.. you of macro reasons and things like earnings and relative valuations. manus: what is going to cause the drawdown by 10% in the u.s.? >> it is more likely to be the earnings story. you have a situation where economic growth is going to come down. we think the forecast for consensus is going to come down from close to 3% down to 2%. that halfway move should not come as a surprise to people. that q1 data will be week and that will take down q2. it is not just the dollar impact it will be domestic demand. that means domestic earnings impacted by the slowdown in shale and the related infrastructure plays. the transport plays being built off of that shale story. we think the big story will be the domestic earnings disappointing in this earnings round. mark: you would be looking deeper at margins and sales growth. you say the gap between u.s. and eurozone marg

now take a look at the rest of europe. even in nations portrayed as the shining light, the beacons on on the hill. what you will find is investment, productivity growth and improvement in living standards and i can only be described as dismal even when compared to the american recovery over the last few years. europe's power houses, forget greece for a moment, serve as countries are turning the corner rely almost exclusively for doing so on building up counter services, either revelation to -- either in relation to other eurozone member states can this is an intra-european zero-sum game, or against the rest of the global economy. at global neighbor zero-sum game. of the kind that we thought was confined to the distant past around the bretton woods conference. the combination of a glut of savings in europe, five public and private debts come of low investment, although interest rates and generalized austerity is causing europe to address its crisis by exporting it to the rest of the globe. while undermining further the real

the american shipping giant looks to expand in europe. this sending shares higher. >> a long weekend with the cac hitting a 7 year high. the spanish and italian indices at a level not seen since 2010. >> divisions emerge between the u. s. and iran over when sanctions will be lifting following a landmark nuclear deal but they send a delegation to china to discuss oil supplies. >> samsung shares are lower despite the most promising in a year. this as they prepare to release the latest smartphone. >> good morning, everyone. let's just kick you off with some euro zone data. final pmi we have the composite and services data. it came in at 54.2 versus forecast of 54.3. so just a touch below expectations but it is a raise for the services component from the month of february when we saw 53.7. now the march composite pmi and it was at 54.1. so both with the composite and the services. a slight miss but it's still an improvement from the month of february. let's get instant reaction from david owen. good morning to you. hope you had a very good ea

jared: we are looking at big numbers in europe. in europe, we are up 500%.hotels? jared: we were good about 15,000 hotels in about 500 cities around the world at this point. caroline: any countries that particularly attractive right now? jared: any country that has interesting hotels that are fun to get to and it is easy to get there at the last minute is a place that would be perfect. we want to encourage people to explore more, to live life a little bit more. caroline: interesting that you mention latin america. an economic downturn in brazil does that affect you in any way? jared: it is interesting, and economic downturn is a good time for us because those long considered vacations and holidays turn into more constrained weekend getaways. hotels and i really help with people who are on the go and want to make a spontaneous decision and also people who are watching their wallet people who are looking for a great deal. caroline: you have the expansion plan. what is the funding access like at the moment? are you raising money from american base venture capit

a third of their revenue comes from europe. some of that is me googling myself, but just a small fraction. [laughter] betty: like 5% of it. how much of protectionism is at play? hans: by their own admission, european commission officials have talked about how embarrassed -- europe has not continued to compete on the tech front. they're looking to you regulations to help level the playing field. this is not just about google. this is about facebook, other tech companies. privacy concerns. microsoft has had their challenges. this is across the tech spectrum. lobbyists are going to need to counter. betty: thank you. hans nichols, our international correspondent. a big deal this morning also happening in europe. no p.m. buying alcatel in an all stock deal -- gnocchinokia, buying alcatel. charlie conan caught up with nok ia's ceo. >> if you look at the long-term in order to be competitive and to be a leader in this field it was important. otherwise, we are happy with it. they are doing well. the company should provides the portfolio

europe takes on google. the u.s.is said to have been told it will face charges for abusing its come nant position. and al at that kell teams up to make the world's bigst equipment deal. francine: good morning to our viewers in europe, good evening to those in asia, and welcome to those just waking up in the united states. i'm francine lacqua. this is "the pulse" live from london. now, china's economy is in the spotlight with multiple economic indicators pointing to a deepening slowdown. stocks are headed for their biggest drop in weeks after g.d.p. growth, output investment, and retail data all dropped in the world's economy, in the world's second biggest economy. our chief asia correspondent joins us. tom, china's g.d.p. came in on target. we had very disappointing monthly data. how worried should we be about them? tom: i would tend to pay more attention to the monthly data. if you look at the headline reading, 7% growth in the first quarter, the premier says he wants 7% growth for the whole year so they're on targe

all of that helping europe. we have concerns about greece not so much about the 7.2 bailout fund extension they will likely get at some point in the coming weeks. it is really about the sustainability issue which will come in june. that is when the current bailout extension comes to an end. that is when the creditors we really have to decide what do we do from here? do we provide debt relief or is it asking for more funds? i think that is when the issue about greece could escalate. they could drag the euro lower. mark: valentin stay there. back with you in a moment. coming up, the crash-proof car. we take a look at bmw's latest innovation. ♪ manus: you are watching "countdonwwn." it is a day in which the aussie dollar the euro so close to the six-year low before the decision not to cut rates. the economists thought that the reserve bank ino of australia would hold. twe are getting breaking news on the rupee. the indian central bank leading rates. here is the rupee. this is dollar rupee. we are seeing this -- no

should europe change? is cameron right to call for change in europe?ns: those are good questions. levy clarify my statement comes out of my passion to seeing a strong europe. i cannot imagine a europe without the brits. i would like us to stand together in our journey to have an economically prosperous region. can europe become more pragmatic? undoubtedly. i think we are all discovery how to run this region really well. i've often gone on record to say we need to step up innovation. there has been agreement called for more r&d investments. phillips does that. we are strongly committed to investments in research and innovation. also in the u.k., we have our research facilities and we are very pleased with the talent of your marketplace. we hope to continue that and i think we should do that without distractions. let's stand together and make europe a better place. manus: give him a call, frans van houten. a little bit of insight on how to do that. . thank you for your time. caroline: coming up the united kingdom -- can tech add growth and jobs to the u.

europe. the spreads are moving higher because there is a realization that the longer it goes on the more installment greece becomes. greece is insolvent. tom: what does it mean for u.s. investors on this monday morning? guest: china is far bigger news erie it greece is a tale risk. if greece exits the euro tom: this is critical. it's not a big deal, but it's huge deal. brendan: greece is insolvent. it clearly is. this is the position of the greek government. the finance minister was very clear. he said we are insolvent. that is one of the issues of this back and forth. we are hearing that we can talk about debt restructuring. tom: this goes back to reinhardt. what is the difference between the liquid and insolvent? guest: with cash flow, you don't have the method of rain erie you might have the assets but not the method. there is balance sheet in solvency where your liabilities exceed your assets. greece has most -- both of those things. the same time, when you look at the liability, it is wa

and europe. just fractionally above flat.he outlook came in earlier than expected and sales missed forecasts. reporting a 60% jump in first quarter profit. bang on flat as we stand here now. remy is up 2.5%. shares rising after shares rebounded in the fourth quarter. they were up 23%. this compare with the drop in sales in the previous two quarters. let's have a look at a few more because nokia shares trading higher after it announced it has completed a deal to buy it's rival. the all stock deal values the french firm at 15.6 billion euros. alcatel-lucent moving sharply lower. up yesterday and now down today. nokia up 2.94%. nokia was down yesterday. meanwhile ericsson is also moving on the back of the transaction. speaking earlier on squawk box we asked the ceo of alcatel-lucent is there could be a prolonged period before the deal goes through. >> everything is there to make the transaction successful. it's wise to recognize at the end of the day one is bigger than the other in terms of market cap which is nokia. so we need

this morning we focused on our shared security starting in europe.e agreed that the international community needs to continue supporting ukraine with robust assistance as it pursues economic and political reforms. we strongly support the minks agrees and we agree that russia and ukraine must fulfill all of the obligations under these agreements. i thanked the prime minister of italy's strong support for the international coalition against isil. italy by the way is one of the largest contributors of advisors and trainers to help build up iraqi security forces and italy is leading the effort to ensure the area is liberated from isil's control or stabilized from an effective civilian police force. we also spent considerable amount of time discussing our deep shared concern for the situation in libya, where we continue to support u.n. efforts to form a unity government. given italy's role across the mediterranean, we agreed to work together more intensively to enkour ration cooperation on threats, and well as additional cooperation with allies. more broa

in europe they're like microsoft. europe doesn't mike monopolies. they don't like them. >> as for the actual toll this could take on the companies. >> $6 billion i'm going to have to pay. >> on a accompany that has i don't know how much cash. >> 60 i think. >> 10% of their cash. >> don't you think they'll make them change their practices. >> is it a significant hit to their business? >> i think it could be. they have huge european business. they say you have to send traffic to the french imtb. >> that's how it works. >> that's what your neighbor does. i am your neighbor. right. i don't like the way google moves. >> nice outcast reference. by the way, guys. we are going to talk to the competition committee member of the eu tomorrow on this program. you won't be here. you'll be getting ready. >> for confetti to be thrown in a much more gentle fashion. >> banks fees and trading revenue did fall in the quarter. quartly earnings in line. a 19% rise in data center revenue. the dow component issuing upbeat guidance. b of a trading down. >> i struggle other

. >> a strong day for europe as you can see.edged higher during the course of the session. as we got the european central bank meeting, press conference, in frankfurt today, the stock index up 21% year to date. the euro trades below $1.06 u.s. at the ecb news conference, a terrifying moment for ecb president mario draghi. a woman broke from the journalists, apparently enter front of him. jumped up onto the desk and threw confetti over him. terrifying from his perspective, if you don't know what's likely to happen. a clearly a major security breach at the heart of the european central bank. which is not a national authority. it doesn't have its own security forces. it there will be hopefully as far as many people concerned, heads will roll. she's protesting the bank's, the dictation of the ecb. tension running high in europe over austerity. draghi continue the the news conference after an adjournment. despite the you see the low rates on the german bund. the maturities on the bund in negative territory. he said there was not a bu

and money. >> lots of groups, wonder about europe resettling them at risk. there's less commitment to that. >> it's important to change the narrative and make the policy humane, to stop criminalizing the utilities. through racial profiling, chasing undocumented migrants. all the policies need to be addressed. the approach is wrong altogether. >> many of the leaders with an eye on elections and public opinion, have to say they want to stop the deaths, but keep the migrants out. the icommitted to stop this sort of thing, but the walls of fortress europe are getting higher >>> e.u. officials say the effect will be felt within days critics say they are face-saving methods that will not make a difference. many have been taken to sicily. paul brennan reports, few italians are hopeful of a solution soon >>> as e.u. limousines were sweeping into brussels thousands of miles away a different group of people were making an arrival at catania sicily. the men, women and children fleeing poverty and hardship has strained the coastal foundation. >> ask around you'll find c

. >> europe abandoned libya. they are raising their voice, saying they are causing a big threat to europe. the reason for this is because you have -- reporter: these weapons are museum pieces, but the way of the gun still rules here. city against city, tribe against tribe. western interference was not welcome. for many libyans, it is your's neglect that is partly responsible for the dead washing up on european shores. government collapse allowed people to be smuggled by people smugglers. this for -- before the islamic state drag the world's attention away from here. it is far from the mediterranean where you will find the roots of libya's crisis. libya's border with the rest of africa is open. we joined one of the few patrols . it runs only part-time. >> we have few resources. what is done comes from us, volunteers. there is no government here in europe is not helping. we need more help. reporter: libya's warning is that for as long as its borders are unsecured, europe's will be, too. anchor: for more on the situ

traffickers can charge thousands of euros to smuggle people into europe. whole families and communities are desperate to escape hunger and private nation in their own countries. anchor: reports are coming in saudi arabia is ending its campaign of airstrikes on yemen. anchor: the airstrikes have targeted houthi rebels. more than 900 people have been killed in the fighting. reporter: the violence in yemen has pushed the country to the brink of collapse. these fighters in the second largest city are loyal to the country's president. they say they are determined to expel the mainly shiite houthi rebels who forced the id lee lastth. >> we are the resistance and we will defeat the houthis. reporter: the conflict between the rebels and pro-government fighters has been taking a heavy toll. civilian casualties have been growing. these people were injured in a saudi airstrike on monday. the target was a houthi missile depot. doctors said they would have been unable to cope if the bombing continued for much longer. despite the end of the air campaign, the saudi's say

many migrants at the moment are departing to come to europe. the crisis is impacting on their decision to depart, violence is increasing and so is discrimination against them. >> what practices need to change to save the lives of those trying to get to europe? >> first of all it's important that the european union and all the member sides recognize that they share responsibility to rescue people in the mediterranean and that means to allocate appropriate resources to increase that capacity. then it's also important for people like the syrians are one of the main groups that departed from situation of conflict to come to europe for a better future and to find peace. it's also good if programs to ensure that they can be transferred regularly to europe are strengthened, like for example, a resettlement programs or humanitarian programs. then important to reflect on strategic policies on countries like somalia mali, countries to ensure a political solution is found there. otherwise, of course, people will always attempt to depart to find a better f

money coming into europe. mark: europe has a huge increase.eat entrepreneurs but still behind of the u.s. in terms of aggregate amount of money and startups and investors. but i think we're progressing and have done a good job. going where does pun lie? where you need to be? mark: our firm is focused on two things. one is we saw the wave of ecommerce where people are selling goods online. uber is one and we invested in a company that helps find cleaning ladies. i think that's one great trend and the other is a financial services industry which is in denial about what the internet going to do to them. going what is the internet going to do to them? mark: basically take away -- the tsunami of the internet has the financial systemhits in sights. going how many companies do you see here that are going to deliver decent vals? because syntec rarely makes the headlines. other disrupters make the headlines because we all need taxis and cleaning ladies or cleaning men. mark: transfer wide attacked only a small portion but we're seeing lending businesse

you may see that in europe. but the potential growth in europe is much lower because of the structural issues that you hear about. when people throw parties over 1% growth -- francine: that says it all really. we are doing so well. but we are compared to know growth. jim: you need more growth to bring unemployment rates down. francine: jim, thank you so much. jim hertling, one of our editors at large. we also want to look at u.k. figures and the impact they have on the election. that brings us to today's twitter question. is the ecb's qe protecting week companies? with this blanket of qe, a lot of investors are saying it is. tweet us. here's a look at what else you need to know on this friday morning. u.k. unemployment figures are due out this hour. we will get the february unemployment rate. staying with the election, leaders of u.k. opposition parties have taken part in the latest pre-election debate. the debate took place without david cameron or nick clegg. a poll conducted after the debate showed labor lead

out of europe.stigators have been investigating google for more than four years. it saying it highlights it on search read -- search results at the expense of its rivals. and gdp growth was down the most in six years. output, investment, and retail data in china all point to a slowdown. there is speculation beijing will move to simply become human -- the economy -- to stimulate the economy further. also, boston will market its second anniversary of the 2013 boston marathon bombings, which killed three people and injured more than 60. dzhokhar tsarnaev could be sentenced to death for conviction on 30 federal council stuff and there is controversy brewing over a recently released police video from a dash cam. an officer is seen ranting and arms cruiser -- an armed suspect. the officer was cleared of any wrongdoing. and they built changing how doctors are paid in medicare cases pending. a new plan will reward doctors when their patients get better. about 50 million elderly americans depend on this is s

we don't know what the reformed europe would look like.know what david cameron would be able to achieve. we don't know if there was a referendum and that was in favor of an exit what the terms of that exit would be. how much would it cost britain? what would be the advantages? this is almost absent of facts in this debate. anna: we've done a lot of research, running various scenarios around any kind of grexit. you can get some very different views depending on what assumptions you make about whether the u.k. stays in and under what terms. guy: therein lies the problem. you don't know what those terms are until you actually pull the trigger on leaving. until you've got into the negotiations, you don't know whether or not leaving or not leaving is a good idea. anna: you don't know what u.k. policy to the rest of the world would look like if the u.k. were to leave. that could be more the point than what the policy is with europe guy:. guy: so we don't know whether the u.s. would be prepared to sign a u.k. trade deal. we don't know all these t