my colleague, francine lacqua, is in davos.ing up as we speak for an interview with the ritish prime minister. hans nichols joins from us davos, sweatserland. day three of the world economic forum, and all eyes on britain this morning. >> all on britain. there's also a lot of eyes, and this would seem to happen in the last 24 hours, sort of concerns or questions about the emerging markets turning into concern. you have what's happening in argentina with the currency. are we able to trust a lot of the numbers coming out of china? how much concern is there about what's happening in the emerging markets with currencies? that seems to be driving the conversation today. we'll see if there's any instability later on as the day progresses, and perhaps we'll get into more macro themes. of course, we have a lot of big interviews to bring you here when we're going to wrap the cameron interview that francine is preparing for right now. guy? >> looking forward to that. yeah, the rand is about to break through a key level, 11. we're watchin

. >> i am francine lacqua.his is "the pulse" in europ bloomberg's european headquarters in london. >> the coldest weather in 20 years is heading towards east coast right now. are extreme. their high is -18 degrees. snow and ice that other major cities as well. officials are warning people to remain indoors as much as possible. dangerous conditions are causing chaos for travelers. >> more than 9000 flights had been canceled over the last few days. even more have suffered long delays. new york's jfk has a huge backlog of flights. the report forced to shut for a couple of hours after a plane skidded on the runway. >> there is some good news for some children. thousands of schools have canceled all classes this morning. we will keep tracking situation and bring you updates on the impact of the arctic weather. >> to whether or not so great in britain. it is warm and wet over here, ironically. that is not stopping london's boat show from sailing into town. >> following hard times after the financial crisis, britain's

francine lacqua, i know you. it is already day one of davos and you have been out there partying. >> it is all about the dancing, isn't it? myn't -- i tried to show dance moves to psy. but we are expecting celebrities. davos gets a lot of flack for celebrity-driven sometimes, many ostentatious parties. my take is it does not matter where you meet people, as long as you start that dialogue. a lot of celebrities -- we spoke to matt damon yesterday -- or here for a great cause. this is the biggest export for korea. the same format damon. he is here for a good cause. he wants everyone to have access to clean water in the next five years. on a more serious topic, syria's peace talks have begun about 350 kilometers away from. most. john kerry has just said that the syrian president cannot be part of the transitional government. at least 40 countries and organizations are attending the negotiations. the u.n. withdrew iran's invitation amid pressure from the u.s. and saudi arabia. the iranian president says he does not h

iscrossix-- francine standing by. how tothis question, top 2013? is putting the spin on spain's unemployment picture. >> let's tell you about some very big interviews that are coming up this morning on bloomberg. here's the first hour of "countdown." sorrell and roger carr. will sitne lacqua down with mario greco. interview with tony blair. >> with all of that in mind, let's head straight out to tebow's work mobile leaders where leadersvos, gathered to meet. will be achols, it cracking day. chasingseven hours [inaudible] >> the speech is important. he speaks later during your show. we should diminish the speech. in itself that is an important moment but he is eating -- meeting with oil executives. ringing his oil -- bringing his oil minister along with him. talking about maybe going to the third biggest oil company, .otentially going back in iran this is all about connections and the challenge is to ensure -- i sure ceo's that the six- month trial will leave something more lasting and permanent and can lead to return on >> there is a lot of talk ab

i will send it back to you guys. >> francine, thank you very much.ng us from the slopes in davos. >> let's talk about ukraine. we will talk about the latest developments in the capital, kiev. that is next. ♪ >> 10 today's company news. the south african government meet with this meets with unions. it affects the minds run by platinum miners. south africa's responsible for 70% of production. lou fonda has asked the court to block the worker strike -- looked on the has asked the court to block the worker strike. they had planned a one-hour walkout next wednesday. london. six: 41 here in the antigovernment protests have spread beyond the capital. ryan chilcote is here. >> protesters have occupied government headquarters. all the important part is in the west of the country. why? the governors were appointed by the president. the protesters resent that so they resent the governors as a result. you have a schism between the west and the east. they don't get along. the president is from the east. they are ethnic russian and pro-russian areas. the west of t

hans in francine joni from davos . -- hans and francine join me from davos.u got lined up? ice, belowmeters of zero degrees all morning. it is starting to thaw, if i crack through this in the middle of this piece, rescue me. >> fran, he is having all the fun. i am having fun, i am wearing sunglasses with tom keene and i have an interview with christine lagarde this afternoon. ♪ of personale computers to cyber security. the bright future they envision. and cisco is betting on the internet of everything. john chambers tells us at the center of it all is video. and the u.s. stock exchange has a crises. they face mobile competition. the nasdaq ceo confronts destruction. good morning. we're live from our world headquarters in new york. i am scarlet fu. michael mckee is joining us. switzerland for the world economic meetings. he will bring us great meetings all morning long. you just wrapped up a conversation with michael dell. he seems relaxed. ?ow was that talk >> it was very different from when he was in that battle about going public. david kirkpatrick and mich

unemployment will affect this. >> let's get back to francine. she is in staff posts -- in vivo's -- in davos. >> we have the political elite. we have heads of state. we have ministers, and we have matt miller here with the latest. there are 80 billionaires here but yesterday we caught up with africa's richest man. >> he is the 25th richest are certain in the world. concentrated in nigeria. he was talking about african issues. we asked, does he expect the bull market to continue in equities across the world, and he said yes. he thought all the negative things in the economy are gone. thes very bullish on economy. he is bullish on manufacturing. he said the only thing that could get in the way is youth unemployment. he cited young people unemployment as the only thing that could get in the way of global economic growth this year. >> we talk a lot about philanthropy. a lot of alien errors. we talked to the ceo, and he was keen to talk about each quality and what he was doing to be more transparent. >> we did a story about how they are anticipating

for the time being, that to you in the studio. >> thanks for that, francine.she said, we will find out whether we all learned something over the past four or five years. hearing,re just christine lagarde, a major concern is the fallout from the fed, the tapering effect. big moves in emerging markets over the past couple of days. ear to try to make sense of it is jonathan ferro. is this a rerun of what we saw last may, june, july? is this the ignition of shifting gears in the emerging market currency discussion? >> it feel that way if you look at some of the moves. a lot of people talking about tapering, the signs of contagion. if you look at these individual countries, you see individual problems. a lot of talk about the ocean going back out and we get to see who is swimming naked. you do see political instability. south africa, the biggest export industry is the minors. -- miners. argentina doing an out right devaluation to their currency. explain some of these individual moves in these individual markets. >> these are countries with deficit issues. there is

we have the intesa sanpaolo ceo joining francine.is a busy 30 minutes, one that you don't want to miss. live from davos, francine lacqua will be with you with those two guests. stay with me. we will talk about markets before the end. breaking ahead in davos, 2014. ♪ >> welcome back to "on the move." china's manufacturing may contract for the first time in six months, adding to stresses in the world's second-biggest economy. estimates.nalyst a number below 50 indicates contraction. ukraine opposition is ramping up pressure against the president. riot days and nights, the select as many as five people dead. 2000 people were injured. special presidentingwe have a y this year. the rainy and president, the first time -- the iranian president, the first time in a decade we have had an iranian president. do you want to do business with iran? the presence of the president is great news. we hope for a positive conclusion. i do not think you can expect anything to happen he for the conclusion. >> -- before the conclusion. i have no meetings. f

i am francine lacqua. >> i am guy johnson. are the bloomberg top headlines. >> barack obama has delivered his annual state of the union address. voweds. president out -- to end economic disparities. >> america does not stand still and neither will i. wherever and whenever i can take tops without legislation expand opportunity for more american families, that is what i am going to do. kong's cable tv is reporting that a man has died after being infected with bird flu. the government has issued a statement that the hong kong bird flu case was imported from china. more thanhas culled 20,000 birds. >> breaking news on sainsbury. it has named mike coupe as ceo. he is the group that commercial director. karen ceo justin king is stepping down after a decade in charge. >> caroline hyde has more. 10 years in charge. transformed the business now he is stepping aside. >> he said it was a difficult decision, never the right time to go. he helped build sainsbury's, helped it become a winner in the christmas trading period. sainsbury's, rea

i am francine lacqua in london.is "on the move" on bloomberg television, radio and streaming on your tablet. here is a look at a stock that is on the move. rsa insurance. it is gaining some 5.3%. was on the most preferred list and we have an article in the sunday telegraph saying the rsa review by pwc sees no more write-downs. a little bit of good news for rsa. the u.k. chancellor george osborne will set out his vision for more spending cuts in a speech later today. he is aiming for lower taxes. for more on all of this, let's bring in jonathan ferro. what are we expecting? >> i think this is really about setting us up for the year ahead. we are living in one of the fastest-growing economies in the developed world. unemployment is falling, economic activity is rising. what is in store for 2014? it is time to face up to hard truths according to mr. osborne. 's you thought the government pursestrings would be loosened, you were wrong. austerity is here to stay. we expect to hear from osborne on a whole host of issues.

back in two. ♪ ini'm francine lacqua london. "on the move" on bloomberg television, streaming live on your tablet phone and any windows phone as well. the industry is facing long-term challenges. jonathan ferro has more on the story. are we talking about high prices for sugar or are we eating less? >> it is a supply-side issue. we have seen increasing supply come out of the likes of brazil and india. we have seen. subggar fall. sugar revenue is down 28% in just the last 16 weeks. stellary the trimark. the budget store doing well. this wille -- is how impact the company on the demand side. structural demand falling for sugar just as the politics of this country start to hea t up. >> is sugar the new tobacco, i.e., the devil? >> some people are calling it the new tobacco. i will give you some stats for color. isteaspoons of sugar, that how much the average american consumes. supply of sorts by the beverage industry. what's interesting is how this debate plays out in the u.k. ad foods produces one million tons of the stuff every si

>> francine, tienes que hablar con el.os sintomas son tambien horribles e interfieren con su vida y la suya, y tienes que persuadirlo de que hay algo que se puede hacer, y no tendria que vivir con esos sintomas. >> esto es un ejemplo perfecto de como afecta al hombre y tambien afecta sus seres queridos. y no puedo creer como los hombres creen que sera algo pasajero. francine, si todabia esta ahi, no deje de tomar el telefono y pida este producto para el. sea firme y haga que lo tome... porque ademas de ayudarle a el tambien le ayudara a usted y su relacion. hagalo antes de que este problema empeore. >> y estara agradecido por su ayuda. >> asi es. tenemos tiempo para una llamada mas, dr. may. neil, de los angeles. ¿como estas, neil? ¿tienes una preguna? >> neil: tengo los sintomas que estan describiendo desde hace años y he probado muchas cosas. ¿porque no simplemente me remueven la prostata? >> buena pregunta. >> neil, el cuerpo no es como un auto, no se puede cambiar el filtro del aceite. puede cambiar un problema grave p

>> exactly, francine. this covered bond market is four times the size of the sovereign debt market here in denmark because basically the debt ratio is 33%, 34%. very small. now the problem that they have got is that there are rules being formulated by the european commission at the moment on bank capital. the covered bonds aren't afforded the highest liquidity status. the banks that hold these bands represent about 75% of the liquid assets would have to sell them down a level of 40%. that would mean they would have to dump the bonds. it would also have economic implications. the economy minister i spoke to has been traveling around europe and just came back from berlin and i asked her what she is doing in order to counter the potential of these rules coming in from the european commission. >> for us, it is very important that the danish position is well understood in some of the most important european countries. because worst case, if the commission comes out with a delegated -- that reopposeds, then we n

i am francine lacqua in london. largest display dedicated to the famous french jeweler cartier. paris through february 16 and shows off some of their most famous jeweled donned by royalty. bloomberg took it to a. by katetro was warned middleton at her wedding with prince william. duket in 1936 by the then of york, it is just one piece of royal jewelry on disk i -- on display at the exhibition in paris, which also includes this flower brooch, one of queen elizabeth's favorites. >> we are very proud to have this from the royal collection. >> you have to be rich like a royal to afford one of these sparkling tiaras. cartier quickly landed the nickname the jeweler to the king. worths estimated to be around $50 million. be on blinding emeralds and willires and rubies, you find clocks, watches, and paintings. cartier was very inspired and it is the incarnation of style and french eclecticism. attracted american personalities from grace kelly to live taylor, who once received a $1 million necklace from her third husband. ca

host: francine kiefer?: an interesting point, reminds me of a story i read recently about a question being pushed on the minimum in california. it is being pushed by a haservative republican who libertarian streaks. what is interesting about his if we had a higher minimum wage, we would not need to spend so much on the safety net. that is one argument. shows that the argument for and against minimum wage are not monolithic. host: california, republican caller. caller: good morning. know, a problem with, you our -- with obama health care. we are getting hit by $200 or $300 a month. we are getting less for it. , my husband does not get a raise for $200 or $300 a month. i have even thought of us separating. and i go on something separate. i don't know, i am a little confused this morning. obama has lied. not just lied once but twice, he has not only lied about obamacare. he is not a president we can trust. host: let's take the trust issue. guest: your story is not unique. we have been hearing stories come out

i am francine lacqua at bloomberg european headquarters in london. 30 minutes into the trading day. let's see how things are shaping up. this is a picture for the overall markets. gains across the board. rick whitty's -- equities rising for a second day. watching the fed as well. fed officials have been analyzing u.s. economic data to determine the timing and pace of reductions in asset purchases. we will have those results later on. we are watching two stocks, mulberry down some 20%. down 23% as we speak. their shares are lunging as the luxury goods maker sees a profit setback. it is going to be a difficult year. this is a picture for looks to -- luxottica, gaining some 4.9%. it is in line with growth. let's have a look with the currencies. currencies play into what is happening in turkey. francn declining, swiss declining. that reduces demand for haven assets and you can see dollar/won. these are the bloomberg top headlines. emerging-market currencies are rising led by the lira's biggest jump since 2008. that is after turkey more than doubled inter

. >> and i am francine lacqua. if you have $250,000 for a night out, we are back with the vegas whale who says sin cities most expensive table is worth every penny. >> looking forward to that one. let's begin with our big story of the morning. shares are on the decline. europe's biggest oil and gas company has warned that fourth- quarter profit will be significantly lower than recent levels due to a mix of lower than expected production and higher-than-expected costs. n. joining us is bria thanks for joining us. a surprise, what happened today. >> it is very unusual for them to put out a statement two weeks before they were supposed to do earnings anyway. they have not done it for over a decade and they had a big scandal. faceds new ceo has never the press. his first arrest conference will be quite entertaining even what he said this morning. how we gone from a situation where the numbers were cruising along ok, not great, but ok, to this? has anything changed in the last 17 days? forhe reasons they gave earnings m

is here and we are joined by francine lacqua on the ground in davos.wave today zÜrich newspaper. it is interesting because it is you look at a lot of the more mainstream international newspapers, they have a lot of focus on davos, the fact that the crisis is over. they decided to put on the front page a picture of a sausage vendor. the fact that they need help from the government, they say that this little sausage company will make a lot of money because the most and the world economic forum will give them a lift. says thisn basically tiny shop will get a real boost from davos. interesting to see that locals are also talking about davos. there is a general sense that although the topics change, we talk about the crisis, we talk about technology, we talk about eavesdropping and how you protect data, there is a lot of focus on what the world economic forum actually brings to davos. the population here is doubling for this week. >> it's getting a lot bigger, that's for sure. making the davos agenda relative to the man on the street, thank you very much. >

that is coming up next. ♪ >> i am francine lacqua in london. "on the move" on bloomberg television and streaming live on bloomberg.com. teva has named a new ceo. he will succeed jeremy 11 who left following a spat with the board. elliott gotkine has more from tel aviv. vigodman would take over next month. >> yes, february 11 is when he is due to take up the role. he is currently a board member anyway. he is also chief executive of the world's largest agrochemicals maker. andurned the company around the board of teva hoping that he will be able to repeat the same trick at the world's largest manufacturer of generic drugs. at the same time in terms of positions at teva, you have had -- or, acting ceo who will go back to being chief finance officer. vigodman has a lot of challenges to deal with. share prices hovering around a six-year low. their blockbuster drug things in $4 billion worth of sales each year. it could face generic competition as early as this year. a lot for him to get a grip on. a naming that is we were expecting. republic -- we r

francine lacqua is up next with "the pulse".an follow me on twitter at manus cranny. ♪ . . >> a cause for celebration and concern. the u.s. is set to cap the best year for jobs since 2005. that leads to investors nervousness about the pace of tapering from the central bank. is google about to go big on sensors? and delivery for morrison after an online christmas. the future looks bright. welcome to "the pulse," live from bloomberg'eu

. >> i am francine lacqua." hold?ill 2014 the vice-chairman looks into his crystal ball with a list of surprises for 2014. manus cranny is here to move us through the highlights. he gives surprises and probabilities. we are going to have the best and worst times. the worst will come first -- and of dio politics geopolitics. the s&p is going to correct, but don't worry. is going to go right up, 20% higher. it comes to the currencies, dollar is going to strengthen. have growthg to above three percent. dollar, one dollar 25. he is the only leader who understands dick cheney. deficits don't matter. the new day will spike. -- the nikkei will spike. top three.he >> what else is on the list? luster of lack the gold that was the o -- it hasn't happened in 1970. was --hest occurrence is muslim to two percent. corrections less than 20%. it happened four times since 1970. quirks does that mean a bigger correction monsieur? we had this cheap liquidity of their. there. quirks you could say that this time is different. the range of

i'm francine lacqua. >> coming up -- super bowl scandal. an ad vert that is stirring up a storm. >> h&m is gunning for a touchdown. we will see if the new david beckham campaign will help the retailer. buyingfed trimmed bond -- segue. >> if you have a good way -- so the fed is pushing global stocks lower. >> to break it down, let's bring in manus cranny and jonathan ferro. a statement. >> the statement focuses on the labor market. it's mixed, ok? and growth has picked up. it is the first non-consenting federal reserve. i think that is important. this is a federal reserve thta at going into the tenure of janet yellen and the potential to step back from tapering. it's pretty darn high. the view from citigroup is that hasta la vista, baby. that is what the fed is saying to emerging markets. excuse the pun. i liked it. worry about yourself. >> it makes sense. that is what the mandate of the central-bank is. emerging markets not too happy. >> manus talking about the unanimous decision. at this point, you have to say points towards the fed going

francine locke lab bloomberg european headquarters in london.nts away from the start of european trading and our markets team has everything covered, from companies to currencies. there with me now is caroline hyde, manus cranny, and hans nichols. futures are looking to a higher start. >> bad news being good news. far fewer in terms of payroll being added, just of the 4000. -- 74,000. unemployment is tapering. many feared it would be more than $10 billion coming off the bond purchases per month. that figure easing some concerns that we will not be going too fast, too quickly. >> the markets are expected to open in a couple of seconds. ryan, you are looking at ubs. >> we had an exclusive interview with the ceo this morning and he says at we are not going to spin off our banking business. that is after a report that they were considering doing so. that is not the case at all. is issue at the heart of it the leverage ratios. the finance minister talk about them needing to go to 6%. right now. 3% it is really a struggle. >> ubs, we are expecting an

as he said, francine, he is a teva.t of has the trust of the investor community and israel and the trick is to translate that to the united states. have a new man but the same problems, basically. >> guy, my chemistry teacher used to say same woman different hat or just because you have a different face there in the form doesn't chief executive mean the problems will go away. the multibillion- dollar multiple sclerosis drug. much you can do about that. it could make it huge dent in the revenues and profits of teva. that itself is a reason the company is downsizing a little inflate 10% of its workforce. they haven't exactly been doing wonderfully over the last two years. they are hovering around a six- year low. they're up a little bit today, but overall they have been at a six-year low. the confidence of investors. get off to could reasonably good start. he has the backing of an activist investor who had written a letter to other investors encouraging them to support the goodman role as chief executive. there was a lett

after that we got a phone call from francine, the casting director. she told us all green grass wants to meet us -- paul greengrass wants to meet us in l.a. we met the director at santa monica. that is when he told us we got the part. tavis: all four of you got hired? man, i did not know that. you just happen to run into your buddies and you all had different parts. you started rehearsing together. paul greengrass signed all four of you. wow. thathen you got the part, you play so well in the movie, when you started reading it, give me some sense about what you thought about the character when you started reading the part you had been given. >> he was a ruthless guy but he ad -- you know, there was motivation. i am from somalia myself. i was born in somalia. i left when i was seven years old, after the war. so i look at him like somebody that was unfortunate, not to have parents like i did, to get me out and see this thing is the only way out. about thingsstuff in front of him, so he is just going all out. when he finds it is an american ship, it is th

quicktime francine lacqua. >> coming up, rolls-royce matches sales records. you are looking at live pictures of the new race model. we will take you inside the car dealers luxury model and show you how to avoid paying a $400,000 price tag. when ryan drives the car, must watch television. >> we are going to get ryan to drive it again. this is a must-see moment here on "the pulse." speaking a pricey product, would you pay $300 for a hoodie? a pair of entrepreneurs are betting you will. one of them doesn't run facebook. we will talk about that story this hour. manus might even wear it. tesco, morrison and marks & spencer all reported reduced holiday sales as consumers cut back on everything from food to clothing. >> for a roundup on this retail story, let's bring in caroline hyde. ouch. >> let's look at the grocers first. tesco, morrison's, morrison's was the worst in the whole of europe. falling the most in what five years? slashing more than 300 pounds of its market capitalization. the reason, profit warning. sales down more than five percent over the christma

i am francine lacqua at bloombergs european headquarters in london. are the bloomberg top headlines. the federal reserve policymakers cut the peso bond buying by $10 billion for a second straight meeting. the fomc maintained its strategy of gradually withdrawing the stimulus program as janet yellen prepares to succeed ben bernanke. it was the first meaning without a dissenting vote since june of 2011. china manufacturing contracted for the first time in six months in january. a purchasing managers index fell to 49.5 from 50 point five in december adding to concerns about the world's second-biggest economy. the rating just missed the estimate of economists surveyed by bloomberg. bank of england governor mark carney says scotland will probably have to give up some of its sovereignty and mirror integration plans if it votes to leave the u.k. and keep the pound. speaking today or yesterday, he said policymakers need to carefully consider the stability risks associated with monetary union. scotland referendum is set for september 18. the world's biggest di

i am francine lacqua. guy johnson is off today. this is what is coming up. ensys raises-- inv sales forecast. first, our big story of the day is jobs in the united states. economists expect payrolls had it to show the u.s. strongest year in employment in eight years. jonathan ferro joins us with more on the numbers. >> we are expecting 197,000. that would be 2.20 7 million, ion, the -- 2.27 mill best year since 2005. a friend got in touch with me and said that is only 100,000 jobs better than 2012. the fed has pumped $1 trillion into the u.s. economy and bought an extra 100,000 jobs. now $4 balance sheet is trillion and we still have not recovered all of that 8.8 million jobs lost from the u.s. economy. the appetite for jobs in the u.s. is remarkable right now. southwest airlines put out 750 openings. 10,000 applicants for those 750 jobs in just two hours and five minutes. big numbers we are seeing out of the u.s. a lot of these jobs are part- time. a lot of people are dropping out of the workforce. that is why the unemployment rate is coming down so fast. >

i am guy johnson and francine is off today.e live in bloomberg's european had orders in london. are weaker than anticipated and we will flash on the screen for you. we begin with ibm. is the company seeking to exit the hardware business? ibm.o is in talks to buy jonathan ferro has more on the story. bought themarket business from big blue. >> we saw this business before in 2005. they have done well with it and the pc market is shrinking. that is 18% top dog of the market. what we can offer them is synergy out there. you hope they can do it. a consummate the package with the opportunity. you can see how this complements lenovo going forward. it looks like they will go hard if this bill goes through. we are talking about lenovo going for the hardware side of the business. it could be signed within a matter of weeks. that shiftely to see further and further to focus on the software side of the business. betweend be anywhere at 2.5 and four point $5 billion. there are questions and what happens with ibm? do they take a step away fr

>> hi, francine. good morning. not only was this the bigs gain in four years, it wases there fourth consecutive monthly gain. you could say we're starting to see a friend here. many markets did well. half of the markets in europe post a gain of 10% or more with . e u.k. up a whopping 25% spain being held by a cash for clunkers program in that country's government incentives essentially and in the netherlands sales more than doubled in december and that is because taxes on cars are going up in january and so people rushed out to buy a car before that tax increase came into place. when we look at the automakers that did best, it was volkswagen and renault and volkswagen done well because of their discount brand. it has a couple of new models. renault, it was their budget brand doing well. while sales are up, people are definitely still looking at the price when they decide what car that they are going to buy. >> let's talk about pricing. i guess probably the comparisons, the comps probably make a difference year-on-y

we have the european and francine is traveling today. she will be in for the long haul over these three days of programming out in. close. we have a recap on the biggest market movers and let's bring in caroline hyde and jonathan ferro. who has a better trade? caroline, unilever, you sat down with the ceo. had unilever and they sounded upbeat while saying that they are winning companies and shares are up. that is the best in six months and it is under the emerging markets. we sought in russia and indonesia. thatwere 75% of the sales was targeted at the emerging markets. we were getting no growth in europe and the americas. it really is focused on emerging markets. poll and, we had a optimism is up. >> is not just the unilever ceo. it is where they think the bubbles are. andthinks it is in internet social media stocks. the other said it was london housing prices. >> we will leave it there. stay with bloomberg television and guy johnson is next. get a pair of headphones. we leave it there. it is the eve of doorposts. os.dav go to my twitte

that was financial journalist and blogger francine mckenna. coming up it's been an exciting week here on boom bust and we're bringing you all the highlights in this week's the best stuff you won't want to miss it then ed harris and i address the viewer feedback in today's in the margins but as we head to a quick break here's a look at some of today's closing numbers a bell stick around. for some. of the finish line of the marathon. like. we welcome erin made in abby martin to have a terrific osho on the our team at work. it's going to give you the numbers but to give you one stock never i'll give you the information you make the decision only about how breaking the should work it's a revolution of the mind it's revolution of ideas and consciousness is frustrated with the system extremely your problems just would be described as angry i think in a strong. or single. to the. very hard to take that. lightly and that is how to act with that you are right there are no. such. on wednesday george magnus a former chief economist at u.b.s. told me an e

francine is off today.e pulse." >> let's start with the ukraine where the prime minister said he would resign. prime minister as rove said he could step down to help bring an end to street violence. >> the ukrainian prime minister has offered to resign. the president has not accepted his resignation request just yet. -- his offer is accepted by the president, he would remain acting prime minister until someone agrees to accept the job. he said he is doing this as an olive fwrooverage the on decision to quell the protests. the opposition or at least two opposition leaders said they don't want that job. so it is entirely possible that as prime him minister for sometime. they have been in recess at the parliament. they are supposed to come back in. he says i'm prepared to share power. why don't you accept it? >> to what extent is he prepared to share power? power is quite concentrated in the you can rain in the president's hand. >> the leaders are in the head of the parliament's office now. i suspect that is e

i'm guy johnson. >> i'm francine lacqua.e pulse" from our european headquarters in london. >> what have we got for you at this hour? america.bile for >> and detroit's top five will get you inside access to the hottest vehicles being unveiled in motor city. >> we begin with our top corporate story. next labs have found a home. they were snapped up by google paying a cool $3.2 billion. >> ryan, what is nest and why would google want it? we interviewed the founder a couple times and they look pretty cool. >> i guess the question is what is worth $3 billion? the internet of things. they have the smart smoke detectivor that has wi-fi. not only can you monitor by listening to the very loud alarm that it is equipped with but also follow what's happening with smoke detectivor on your smart phone and computer and it can also interact with other smart devices in your home. more on that a little bit later. then they have this thing called the nest thermostat. it also has wi-fi so you can monitor it in the same way. interestingly, it le

francine is out today.all the things you need to know and these of the bloomberg top headlines. government acquisitions our power. . the deal marks the first sign of progress that has taken place in switzerland. edward snowden says that there is no doubt that the nsa engages in industrial espionage. he says that if a company was information that is useful to united states government, they would use it. not -- at&ty do says they do not plan to make a bid for vodafone. let's get more on the latest from the world of telecom. hans nichols joins us from berlin. today, to what extent is it about the takeover ?ules >> let me do the background. there are two ways you can look .t the filing that at&t made one is that there will not be a rule. does that make that more likely that they will acquire vodafone or less likely? wants a foothold in the european market and vodafone has that. millione close to one subscribers. it really takes the pressure off of themselves. there could be a potential price war in the next six

i'm guy johnson. >> i'm francine lacqua. pulse" live from our european headquarters here in london. >> let's take a look at what we have coming up in this hour of "the pulse." we're talking about global sport. two of the top attendees will be joining us this hour. >> one is the principle for the bulls formula one team. christian horner. >> red bull has dominated the circuit over the last two, three years. but with changes to the rules, how is horner adjusting his strategy it is going to be amazing to see how the new cars fare in australia. we're also talking with tom fox with arsenal football club. >> he will explain how he is working to work the club to an international fan base. >> it is not just football. it is basketball as well. the brooklyn nets and the atlanta hawks both have an away game here in lond london tomorrow. ryan, just how are sports teams such as these going to make money abroad? >> they start by building a global franchise. most would agree that the new jersey nets has done more than most nba teams on that

. >> i'm francine lacqua. this is "the pulse." live from european headquarters in london. >> of exclusive look at the goldman sachs global strategy conference in london. manus cranny standing by with a quick review. >> we've had the european view, we got the japan view and next, all about u.s. economics with the chief economist with goldman's -- from goldman sachs jan had see us -- jan hatzius. chief executive is denying reports and that's what syllabi third-biggest bank will spin off its investment banking business. ryan has more of the details. >> ever sent to join ubs a couple of years ago he has been all about cutting. they close many of the debt trading desks. they are a little beyond halfway through cutting 10,000 jobs. it in an exclusive interview with us, sergio armani said as far as investment banking is concerned, they are done. >> our investment banking business again has been restructured and is up and running and the model is the one you see today. as no need to restructure. -- there is no need to restructure. we are

. >> and i'm francine lacqua. we will be talking about tech. we're taking you to the consumer willronics show where we show you an app that makes your home smarter. continues tovortex wreak havoc on the united states. chicago set a record with a temperature of minus 27 degrees celsius. >> that was colder than the south pole. the high in new york will struggle to reach a high of 18 degrees, creating chaos. itsetblue airways suspended operations overnight, contributing to the cancellations of thousands of flights. the weather is also testing america's energy capacity. grids have tried to bring more capacity online. >> temperatures are life- threatening and can freeze the skin in a matter of minutes. moment, if you're in that region, stay indoors. >> talking of warm welcomes, the treasury secretary of the united states, jack lew, managed to avoid the travel delays by the u.s. weather. using harris today. he is meeting with the french resident francois hollande and his finance minister. >> are international correspondent joins us now with the very

francine is with us from davos.ked about antonint -- anemic recovery. >> what i find fascinating is how the united kingdom is out front of what we have seen in the united date. it is great to see this. it is a mostly recurs or to wear we hope the united states will be. lois original about your conversation, with the prime minister? >> this is the lowdown. they have a problem convincing the market that rates are going to stay low. this is the forward guidance. people say it has to change. he says as soon as we hit seven percent, we will think about moving interest rates. we are very near that seven percent. they need to make sure that the markets will not start growing interest rates. >> what has been the reaction of people to the prime minister? what has been the response to his leadership? the surprise of 2013 was a better economy. >> the economy is firing on all cylinders. unemployment is doing better than expected. there is still not enough manufacturing. >> much like the united states. >> how do you go to escape

francine kiefer of the "christian science monitor" on our story but the democrats' plan to highlight income inequality in 2014. [video clip] this administration declares war on poverty in america. today,0 years ago resident lyndon johnson declared a war on poverty in a joint session before congress. of you and ask are we winning the war on poverty in this country? the phone lines --

that's why this lady is here, francine, one of the finalists on the baking competition.thank you so much for coming out. very nice to meet you. look at the gorgeous creation she has. she'll tell us a little bit about her pies and the american pie council, right? i'm gravitating towards the one with bacon on it but we'll get to that in a minute. so you're going to show us how to dress up one of these things? >> this is actually one of my american pie winner, a chocolate key lime. we'll finish dressing it up. we have two others that i've put in. this is actually a national winner there. >> so let's start. what is the national winner? that was -- that is a white chocolate raisin nut cream. >> wow. >> it's really good. so by the way at home, if your mouth is watering during this segment, we'll have all the recipes on the brand new wusa9.com. they're phenomenal. what is this one? tell us how you'll doctor it up. >> a chocolate key lime. we have the key lime moose in the middle and we're just going to cover it with the chocolate sauce. >> one of the other reasons why we have y

saying that they want to have finance in place and they want to leave all options on the table, francine. one thought is, could charter build it up? could they do a deal that way? we have bigger and and you know the whole argument we had here with you, me, guy. do we still need cable tv? you still need a cable subscription? you have netflix and online. the view is, you are going to see, globally, more than 50 paidon people, having to subscriptions and doubling up. there is a logic. they say there is a logic in this move. they are going after these cable assets. have you been on the phone with your customer service agent? i have. time warner cable rates at the lowest customer service experience and the second worst in cable. customers are very upset. >> all right. thank you so much. we have the latest on time warner. retailersng, online -- online-only retailers slated 25%. we are joined by stephen. thank you for coming on. they are going from strength to strength. has done so well in the last couple of quarters. placed,nk they are well where the market is right now. iny are well-positione

print.t see, ins do happen, francine. -- things do happen. >> the ceo says he is open to talks. here is james breton, the chief investment officer. am fascinated by the biscuit story. the chinese company is looking at europe. will we see more of this? >> i think we will. we have an environment and lows costs. investors will be adjusting the evaluations. those violations are interested in the industrial logic is not about making dad companies better. companies better. beyond this, you are getting a brand that people know and are squeezing out. what does the biscuit mean for a chinese equity firm? >> they have a lot of cash to deploy. they have large amounts of cash to pay for the commitment and we did to find a home. inevitably, private equity is saying, what companies can we reasonable a discernment of the capital the ploy. which companies will pay adequate cash flow. you get a typical account of the company and the cash flows are stable. you want them to be reasonably sustained. you do not get an aggressive central bank tightening. if that happens, a lot of the equity deals tha

she was with francine lagarde. >> is there a sharp distinction in her view? >> i think so. did not talk about that. what i would say is that her institution has been out front on this slowing economic growth. whether developing country or emerging-market. ian bremmer noted that two of the four bricks have gdp less than the united states. i did not realize that. the people that you talk to everyday deal with a more sluggish economy. lagarde is widely -- simple is a slogan. that is what they told you. they are the one thing less complexity, more simple. this ties back to lagarde. more cautious global outlook. >> the saddest part is that you do not have time to tell us how your nouriel roubini party was. that is your annual -- that is your dojo, your dream team. >> it is 3:00 in the morning. just in time for london tv. you so much. our own tom keene, helping us break down for you what is going on in davos . >> when we come back, why is it so hard for big pharma to develop new drugs? that is next on "market makers." stay with us. ♪ >> you are watching "market makers" here in th

i am anna edwards in for francine lacqua.le of stocks that are on the move today. we see executive moves from company to company and it doesn't usually do this to share prices. lanxess up by 8%. merck down by 9%. this is because mark's cfo matthias zachert has said that he is leaving. he's going to become the ceo of lanxess. it seems where this man goes, investors want to follow. lanxess is responding positively to the arrival of this new ceo. merck's share price is trading down by 9%. morgan stanley and foxton both cutting their recommendations. clearly some investors believe he has a material impact on these businesses. we are 30 minutes into the trading day. let's see how things are shaping up more broadly. there is that story in the drug he and let's have a look at the broad market. the ftse 100 down by 1.2%. markets were fairly relaxed in the early start of trading. in the face of that selling pressure coming over from the asian markets, last week equity volatility measured by the vix increased to the most in two years.

edwards, in for francine lacqua.e pulse," in london. >> a major winter storm hitting the u.s.. is seeingast blizzard conditions, almost 100 million people being affected. new york city make it up to nine inches of snow. prettylready coming down hard, even worse in boston, expecting to get 14 inches of snow. that is causing severe travel disruption. several thousand flights have been canceled and more have been delayed nationwide. some major expressways in the northeast have been shut down. officials advising everyone to stay indoors as much as possible. if you had out, dress warmly, temperatures could fall to -23 celsius, a enough to freeze your face. scarf.or a live in new york later with a closer look at the impact the storm is having on businesses. next shares gaining after the retailer posted well ahead of estimates. caroline hyde is here. next seems to be one of the winners of the christmas period. theetting a picture of how retailers have done. on the website, companies had to/prices. next -- to slash prices. n

christine lagarde sat down with francine lacqua. had advice for ceo's. >> ring women to the table and celebrate them and encourage them. mentor and help them. you will do good to your company's. wherever you can incentivize innovation and create jobs, go for it. >> is there something in our dna that has changed because of the crisis? >> for the better. i'm thinking of the old greek principles of balance, measure, fighting against excesses, eliminating abuses. if we have not learned that on the occasion of the crisis, it is a pity. >> have we learned something? >> the future will tell. we had better have. i think we have. >> british prime minister david cameron also making the rounds. he is there for the same reason iran's leader is there. it is because he wants people to give him money. >> it is hugely important. in the first six month of last year, britain was the most popular destination for foreign investment anywhere in the world. one of britain's great advantages is we are not embarrassed we have chinese investment. we are not

as is "on the move" and i am manus cranny in for sam -- for francine lacqua.et's give you a quick taste of how the markets are. just slightly lower. we are coming off 5.5 year highs . german exports missed estimates. we are waiting for fed reserve minutes. a 5.5 year high here yesterday and we are waiting for the u.s. adp report. that will give us a hint on the jobs report for friday. currencies -- there is one predominant theme and it is dollar strength. but sterling barely up 0.1%. it is really on the yen and the aussie dollar where you see the mortifying moves of dollar strength. trading near a five- year high or the yen near a five-year low. the number of short positions being taken by the market is a form of high. i call this pre-fed nerves. these are the bloomberg top headlines. colder thandetroit, the poll yesterday as frigidaire clamped down on the u.s.. ofcago recorded a record low -27 degrees celsius. in new york, temperatures smashed a record set in 1896. scores of flights and trains were canceled and the cold snap who stood oil and natural gas pric

christine lagarde spoke with francine lacqua about climate change policy and risk of energy complacency of my passions for 2000 14 and onward. that is climate change. i know some people try to minimize climate change. but i am sorry. if we want toal make sense for our children and godchildren. clearly, what is coming up in the meeting in the united nations, called by banking moon -- by ban ki-moon, and next year in paris -- how to be meaningful, not meaningless. >> because of a crisis? >> when the house is on fire because of the economic crisis, and because the economy is drifting, you focus on the economy. and you lose a bit of what is generally seen as the medium- term risk. riskld say the medium-term is short-term, and needs to be dealt with in the short term. complacency is a risk. it is one of them. what we are seeing at the moment, to go with the optimism -- we are seeking the recommendation of the moment. that is our analysis. all we are also seeing risks that should be of concern. we have new risks as well. essentially, what we believe is -- of thea reset the way the economy gro