they are looking at commercial practices of glaxosmithkline.ibed doctors, medical units, hospitals to use products in foreign countries. there is a big investigation going on in china. earlier last month the chinese police handed back the results of the investigation into sales for actresses. >> we don't know whether they are looking -- into practices. >> we don't know if it is a broad investigation. we just know they are investigating. >> the statement he reiterated doesn't seem to say whether it is china or other foreign countries. analyzing these allegations. of these countries have reason to believe there could be some wrongdoing from glaxosmithkline. concern that the united states and the u.k. do have the strength to prosecute if there has been corruption or mis-selling a broad. it doesn't have to happen in the u.k. it can be further afield. this has been well flagged. previously they have said, we are cooperating in the u.k., also with investigations in the u.s. we have known this can be a possibility. shares could fall half a percentage

for glaxosmithkline as a whole.orries and investors are going to be voicing it. >> still ahead, the fickle word of fashion as brands go in and out of style. can michael kors stay ahead of the pack? that is coming up next on "the pulse". >> welcome back to "the pulse." this is "the pulse" live from bloomberg's european headquarters in london. let's have a look at the euro. headed for its biggest monthly decline in four months. there is a lovely chart from the start of this year which shows what has happened over the month. the big talk of the town was the e.c.b. will add to monetary easing next week. and a gauge of the u.s. dollar poised for its first monthly advance since january. we have a report tomorrow on initial jobless count. everyone is looking at it ahead of the important e.c.b. meeting next week. >> you know what else everyone is looking at? >> handbags. >> michael kors reports later today in the u.s. is the brand still in style, our next guest seems to think so. thank you for joining us this morning. micha

glaxosmithkline will face a criminal row.mid ongoing investigations to bribery accusations in china. here with the story is caroline hyde. where are we with this? the chinese have been investigating. >> chinaeally serious has been investigating ten-month but there is no direct link between the office. we do know it is the first confirmation that there will be a criminal investigation into sales practices done by glaxosmithkline here in the u.k. the office will be doing be investigating. it does not say it is linked to china, but you think you -- have to think it is is because it was two weeks ago where the chinese police handed the chinese unit of glaxosmithkline the repercussions, the finding of a 10-month investigation into sales practices which they say allegedly were bribes, bribes to doctors, trying to get them to use glaxosmithkline drugs. >> this was bribery in the old-fashioned censored they doctors -- allegedly, thank you for keeping me on track. it has impacted sales. there is an issue of trust here. >> we saw sales

we'll now be watching to see who will be facing charges from glaxosmithkline. beijing. >> we've had a statement from gsk. they said, we take the allegations that have been raised very seriously. we will continue to fully operate to cooperate with authorities in this matter. they also say that we want to reach a resolution that will enable the company to continue to make an important contribution to the health and welfare of china and its citizens. so response there from gsk this wednesday. that's the round up of the business from me. lucy, back to you. >> thank you so much. >>> let's bring you breaking news that we're getting from soma in turkey. the prime minister, recep tayyip erdogan is there at the moment. he is meeting with relatives and also with rescue workers there. but the news from him just now is he has confirmed that the death toll from the coal mine explosion and also the fire, which is still ongoing, has now increased to 232. the death toll was 204 or 205. it has just gone up, according to the prime minister, to 232. and with a few hundred miners

glaxosmithkline has declined comment. the department of justice is filing a "criminal" complaint against credit suisse. the doj accuses the bank of conspiring to help american's dodge taxes, by using the bank as a safe haven. the bank is expectd to plead guilty and pay a multi- billion dollar fine. a former european trader whose losses rocked the financial world, is now in jail. jerome kerviel, known as "the rogue trader", turned himself in to french police this week. the former banker for societe generale so-sit-tay- jener-al, will serve three years in prison for a six-year old crime. he lost his appeal against jail time in march. risky trades he made back in 2008 cost the bank nearly five billion euros. as the vatican attempts to bring better transparency to its bank. more fraud has been uncovered. the number of suspicous transaction reports jumped from 6 in 2012 to 202 in 2013. the church's financial information authority attributes the surge to improved vigilance and reform efforts. in today's cover story, the nationa

> a case has been laid out for of such by the state.e release i shall grant a bitter pill for glaxosmithkline as chinese police accuse a british executive of ordering staff to bribe hospital officials. >>> hello. thanks for joining us as we bring you live pictures from the scene of the mine site in soma in western turkey as hopes of finding any survivors from the explosion there are fading. the rescuers are racing against time to get to the men still trapped underground. i should remind you, 787 people in all were in that mine at the time of the explosion. 205 have been confirmed dead. hundreds more are simply unaccounted for at this stage. the death toll there likely to rise in what the energy minister has already called the country's worst ever industrial accident. the government has declared three days of national mourning. the prime minister is due to visit the mine site in the course of the next hour or so. well, the accident happened, as i said, in the western town of soma. here it is just south 250 kilometers or so south of istanbul. there was an explosion at around 12:30 gmt. that was

. >> let's get more news you the glaxosmithkline is accused of a bribely operation. among them, the british man who once led the company's china operation. >> reporter: these charges if confirmed against one of glaxosmithkline's leading executives had more than insiders anticipated. the maximum sentence for bribery is life. but ten-years in jail is more likely sentence if found guilty. gsk's headquarters in london said that they had no idea of what was allegedly taking place. chinese police say travel agencies and consultants were used to transfer bribes to doctors. >> reporter: they said we take the allegations made very seriously. they are deeply concerning to us and contrary to the values of gsk. it, too, could face subsequent charge for corporate misbehavior. in video released to state television one of the joint accused alleged that mr. reilly sanctions payments. >> they once mentioned that costs would be involved. the response in english was go ahead. >> reporter: the third accused told police. >> i feel very sorry and regretful for the danger caused to society

. >> tim, the drug giant glaxosmithkline would use some painkillers. it's now facing a criminal investigation here in britain for its sales practices in countries ranging from iraq, poland and lebanon. it's already in trouble in china for allegedly bribing doctors and hospitals to prescribe its drugs. >>> hello. it is midday here in london. 7:00 a.m. in washington, 1:00 p.m. in the french port city of calais where riot police are currently clearing about 800 illegal migrants from makeshift camps there. french authorities claim an outbreak of scabies and the lack of running water is posing a health risk and the site needs to be shut down. but the migrants say they don't know where to go. the illegal camps cropped up after the french government closed down the official red cross refugee center in 2002. more illegal camps were cleared in 2009. but it didn't stop the migrants from coming back. now there are several camps in calais, mostly with political and economic migrants from asia, the middle east and africa. paul adams was at one of those camps as pol

shares in glaxosmithkline came under pressure during wednesday's after britain said it had launched a formal investigation into the british banker's business practices. the sso is not providing further details at the stage. this comes two weeks after them withlice charged corruption. and we finish up with a question -- mirror mirror on the wall, who is the most marketable football player of the mall yack up the answer according to the sports marketing firm rep you calm is portugal's cristiano ronaldo. the real madrid player is the most recognizable face in the .port picking up facebook and twitter followers, let's look at what the top three actually looks like. the four-time winner from argentina is in second place. gerard pique is in third place. he may have had some help from shakirlfriend, pop star ra. >> i could have told them that. >> do you agree? >> i do. thanks for that. now it is time for a change of pace and to see what has been making waves out there in cyberspace. time for web news. and welcome to today's web news where we take a look at some of the stories making the onli

police have charged glaxosmithkline executives with corruption. the british drug maker is dealing with the fallout after three of its executives of its china business were arrested for bribery. an investigation alleges glaxo bribed doctors and hospitals to boost drug sales. the company called the allegations deeply concerning to us and contrary to the values of gsk. if convicted -- the individuals involved could face up to life in prison. deere and company is running into tough turf. that leads off our earnings watch.. deer blames lower crop prices and slowing demand for farm equipment on a 10% drop in net income to $9.2 billion. the company missed analyst estimates and lowered its outlook for the year. and after a powerful run in the stock this year.. plug power is trading below $4 dollars. the fuel cell company reports a $75 million dollar loss. but the ceo insists plug is charged up to become a large profitable company. flyers feel more satisfied up in the air. jd power and associates says for the second year in a row, consumers gave airlines h

the three-way deal with glaxosmithkline. another thing -- a very big week for media earnings.very communications, disney, directv, fox -- news corp., are you with me? these are some of the companies recording all week long. run intermediau partners, and you also run the yes would network -- the yes network, home of the beloved yankees. what do we hear from the ceo's of the content providers versus the ceo's of the distributors? >> not many years ago when we talk about earnings if we had done the show, the four of us together, they were sort of blended. it was an era of vertical integration, the content distributors and the programmers were one and the same. beginning back in january of two thousand nine when the broadcasters it essentially became multi channel programmers the broadcasters it essentially became multi channel programmers, you had a clean split. significant companies owning very little content. >> the comcasts of the world, etc. wireless --for ryan directv, verizon wireless, the other significant cable operators. theho is going to win? >> content guys. >> content

glaxosmithkline have already ruled themselves out. that would've been the made in britain solution. a lot of concern westminster about this deal and what it could mean for research and development in the u.k.. the name you do occasionally is more and their realm of fantasy. absolutely anything is possible. everyone is in deal mode. >> are we going to hear many more deals in the pharma sector and the next couple of weeks and months? >> i think we are getting a domino effect. it wouldn't be an exaggeration to say that it will be started off with this glaxosmithkline novartis eli lilly four-way deal. certainly, when you talk to people who know bayer really brands likeve coppertone, claritin allergy medication, they really need this just in the game. part of the deal was a joint venture in consumer products between novartis and glaxo which is going to be very strong. you have one of the situations were chief executives are looking over the shoulders and wondering, if i don't make a deal, am i going to be in trouble? is a gn of weakness for the pharma sector, not a sign of strength. can

when i look at pfizer, eli lilly, glaxosmithkline and sanofi-aventis, the biggest is pfizer, the onee worst 12-months returns is pfizer. >> i think pfizer is trying to be opportunistic. they have almost $50 billion of cash, most of that cash is parked offshore. i think that tax certainly playing a role in their interests. i think their intent is to redomicile into the uk where tax rates are lower. i think cost in is also a playing role. i think pfizer has shown in the past they can integrate and cut costs. i think in this case you're dealing with a market that has benefited from record low interest rates, dealing with a market that's also trying to lower the overall corporate tax structure, so pfizer is trying to participate in that. >> again, i guess sometimes it's quicker, easier and cheaper to buy drugs through acquisition versus doing the r&d from scratch yourself, right? who do you see in the space that's going to be the next to consolidation. i notice the -- who did you think is going to get together in the future? >> well, i think there's probably not any one company in partic

that's back in sew smith klein's -- glaxosmithkline's company.u start tomorrow? yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, it helps pick up some of what medicare doesn't pay. and could save you in out-of-pocke

glaxosmithkline is 3 1/2, 3.75 range. there are atat companies trade as adrs here in new york stock exchange at new york stock exchange. you don't have the currency risk. they're wonderful investments for people looking for solid and reliable dividend stream. so you have to look everywhere. last thing i want to say, investors should take really, really good look how those acquisitions are happening. pfizer walking away from astrazeneca is solid sign people are not willing to overpay. that is positive for the market. >> i agree. oliver, great to see you. joel, wonderful to have you as well. todd horowitz we'll see you when we come back after the break when the app statute furs close. david: thanks, guys. will it be iphone 6, or iwatch or maybe the itv we heard a lot about. that is what folks are asking when apple kicks off the developer's conference. cantor fitzgerald top analyst says none of these things are coming. he still sees the stock moving higher, over 100 bucks higher. why? he is here to tell us in a moment. liz:

drugs giant glaxosmithkline known as gsk is under investigation by a britain fraud office known as sffo all over gsk's commercial practices. the british based pharmaceutical giant says it will fully cooperate with the sffo but refused to say whether the criminal investigation is connected to a specific incident. the firm is willing bb investigated in connection with allegations that representatives in china and poland bribed doctors and hospital officials to prescribe gsk products. we're going to keep across that story. as well as this one right here. general electric's offer for the french train and turbines maker, it's a giant of a company, have been approved. officials in the office of the french president francois hollande have said the factories will be opened. there is a bit of a toss up for this one. a german firm is also interested in the power turbines business and said yesterday on tuesday they hope to make a formal offer by june 16th. again, something else we're keeping across on bbc business. >>> what about this one? take a look at it. there you go. would you be seen dead in

and there was talk with maybe glaxosmithkline. it leaves them in a difficult place. you have bill ackman knocking on the door on the one hand, and calls for help our going and aunt -- for help are going unanswered at this point. they meaning to -- may need to hold out for a higher offer. they may need to go out and look for something that is big enough to fend off this potential takeover. we have seen it where someone wants to buy you, and you go out and buy something else instead, instead of taking the offer. we are waiting to see it too high for allergan shares -- shareholders to say no. leant has made clear they are not about developing our nt. >> they're both saying, these guys are going to come in and we don't care that much about rmb -- they don't care about research and develop it as much as we do. allergan is making that argument. up there and said, hey, look at these things in our pipeline. we still have growth on our own. do not take us over. we can keep doing this ourselves. >> short of going out and buying another company, as you explained, as a defensive

there was a shuffle between novartis, glaxosmithkline and eli lily.r that. back to you, steve. >> meg, i just have a question for you. what's the deal here? is a company that sells in font of the counter is better off in front of the counter? and a company behind the counter should stay behind the counter? >> it is so much higher behind the counter. >> well, i know that. >> no. that's true. it's interesting that you ask that question. of course you can charge amount more for the drug that you have to get prescriptions for. as the ceo of bayer this morning, companies are trying to compete in areas they are already big in. bayer's business in the prescription drugs isn't quite as strong as it potentially is for consumer products. merck, of course, as you pointed out, is a very big company on top of its consumer business. merck is staying heavily there in the prescription drug business. >> meg, thanks very much. >> thank you. >> since friday's jobs report many experts raising their second quarter growth off the full year. some 3% for the full year. this