much, jon ferro with the latest.ir jordan in 1985, the shoe is still a huge hit. a man in oregon is suing nike over the issue, claiming it is so dangerous he needs -- it needs a warning label. >> the air jordan was released 5, still used by some of the best on the court. carmelo anthony of the knic ks. spike lee made it clear what can and cannot be done. >> you cannot buy this. >> something else you cannot do in air jordan's, beat someone up and blame the sneakers. a portland oregon pimp, sirgiorgio clardy, is serving a 100 year prison sentence, in part for using historians to stop the face of a john who did not want to pay. for $100 suing nike million, claiming nike failed to warn him that his air jordan's could be a dangerous weapon. clardy wants a court order to fix nike to a fixed -- clardy once a court order to force nike to affix a warning label. have established just about everything can be used as a deadly weapon, a pillow can kill someone. although some receivers and hot water have been classified as dangero

jon ferro is here. >> chinese gdp? >> possibly. >> now they say chinese pmi manufacturing.hat is right that there. >> what to expect for the job number from the u.s.? >> a rebound. december.umbers for we are expecting 180,000 today. what strikes me as the range of totimates from 105,002 270,000. is a guessing game, because of the bad weather. the worst december since 2009. you never know what could happen. >> what about the unemployment rate? there are a lot of questions being asked about what the data is telling us. >> this one is a bit of a dilemma. it will be for janet yellen. a couple people think we could see unemployment go down to 6.5%. over the past year, the fed has been saying we will change our interest-rate policy once unemployment comes down to 6.5%. unemployment has come down quicker than anticipated. rate charts will show the over the last five years. it has come down from 10% to 6.5%. almost a mirror image of that rate is the participation rate chart. the percentage of those in working lease -- age who are actively looking for a job. this is the 1970's low.

we talked to jon ferro and how he spends his money. germany, as we know, it is growing and there is a little bit of a myth on why the numbers. it is not good. >> in a word, pathetic. andared to the gdp figures they are encouraging. troubling france and indicates a stagnation in the country that is a concern. what is the ecb going to do? we are still asking. >> we'll wait to see what the answer is. all the breaking news on the ukraine and tf. up next with a pulse. stay tuned for live update. >> the truce is tested. ukraine's parliaments have been evacuated as more people are kiev. in fresh clashes in what's up? what's out? facebook splurges 19 billion on this mobile messaging app. good morning, everybody. welcome. you're watching pulse pulse live fr

jon ferro has more. >> it delivered a 10% increase in full-year profit. it is big for ree -- rio this morning. the layne in spending the diverse capital expenditure are gone now. the c.e.o. has cut over $2 billion in costs for the company. hall fed exploration spending. that is what was done lift profits this morning. >> is it by more than expected? >> a bit of a buzz about this, how big the dividend might be. how much they are paying to investors. it is slightly above expectations. a 15% increase in the dividend. something that deutsche bank called for. the question mark hanging over them and so much for the mining industry as well, the biggest contributor for rio tinto is iron ore. china imports about 60% of global iron ore output. rio got a nice little pump. the price was up 15% over that period. china showed no signs of backing away from that period as well. it is down 10% this year already. how that plays out will be key, not just for rio but for the other miners as well. >> thank you very much. nestle reported sales growth in line with estimates thi

here is jon ferro. >> we will call it the data dilemma.is not an exhaustive list of what we will be looking at, but it is some of the key pieces. we have had pathetic levels of growth across the eurozone. in maine fore economies have deliver growth since the start of 2011. eli is not painting a lovely picture. -- pmi is not painting a lovely picture. unemployment, lower completion -- low inflation, check out germany. inflation of around 1%. just .7%.at where does the ecb see inflation out as far as 2016? inflation below their target of 2%, people are going to raise the credibility question. draghi spoke yesterday. listening to him and all of the other ecb speakers out there. they do not seem worried. >> they do not. one line from mario. ofdo not have evidence people postponing their expenditure plans. he said animation -- inflation remaining low is a risk in itself. the ecb will deny deflation to avoid --. risks to deny any avoid creating such behavior. whatever the ecb thinks, if we get a lower number today, .7% could be low enough. i wil

six point five percent and jon ferro, what caught you by surprise?discussion of higher rates? it is not going to happen. it is part of the discussion and someone the higher rates. >> we saw the summary and this is when the federal reserve talked various dates at times. the conversation is more interesting and it is happening. and let's look at the hawkish side of the federal reserve and the dovish side. you have not heard many voices talking about weight. they're talking about 2014 being the time to do it. the chances are happening. it has been discussed. >> fed policy makers want more policy -- attention paid to inflation. it goes well below the two percent target. stays persistently below the target, -- something like that. >> put it there and make it hard. i'm looking at federal reserve meetings and they are talking about inflation and the lack of inflation. that is that -- that is exactly what they have. there are little baby steps. what you're getting is pure guidance and norm or communications. -- normal communications. at the end of the day, t

from the olympics to the markets, jon ferro. >> thanks very much.hink the color of the european map tells the story. a move lower. if you ever wanted a recipe for the -- session in europe, on autopilot. then you have china. china, china, china, hsbc, manufacturing data shows a contraction. seven-year low. france, pathetic, in contraction. one question is being asked. what is the b.c. going to do? if they do -- the e.b.c. going to do? if they do anything, what shape is that policy going to take? >> that story is going to develop. we'll talk more about the p.m.i. numbers shortly. what else have we got coming up for you? one of the biggest -- players in the world got the start by turning a brick road yellow. tech color is the company. ♪ >> good morning. welcome back. you're watching pulse pulse live from bloomberg's european headquarters here in london. i'm guy johnson. my colleague, francine lacqua off today. let's talk about the bloomberg top headlines. chinese manufacturing fell to its lowest level in seven months. worse than economists were expecti

jon ferro on hunter wellies.kets -- rakuten had the biggest plunge in four months. this after the company announced er messaging vib for 900 million dollars. it is trying to boost sales after missing estimates for two years. campaign ining a the u.k. they will run on broadcast from today. it declined to say how much it is spending on the campaign. slave" took home two awards. and bestst film leading actor at the uk's most prestigious film show. ofis seen as it an indicator the academy awards. it is nominated for nine oscars. , golf, -- coming up, the high life. that isbusiness expanding beyond one percent. ♪ >> welcome back to "on the move." i am francine lacqua. ore adjust the privilege just a privilege for the super rich, charter companies are using new technology to democratize. bloomberg went aboard lunajet, the largest independent private jet broker. it is looking at more ways to make money. >> the valley that permeates above it is remote. two or three hours by train and a couple of connections. one way to m

jon ferro has more on the latest numbers from the minor. go through the mining company and what they came out with today. >> let's talk about full-year profit. a 10% increase, beat analyst estimates. a reflection of the broader story in the industry come at a pressure to cut costs and rein in spending. the ceo is doing no different. he has cut by over $2 billion. you see a nice pop in profit today and a nice little dividend too. >> we spoke to blackrock a number of times. they say, we want more dividends. under the suntor once more dividends, especially if you invest in these miners. they responded. a 15% increase in the dividend. came in at $1.92. a hat tip for the guys at deutsche bank for calling this one. the question mark is something you called as well. it is china. what we saw last year and the reason for the big pop in profits was a tick up in the price of iron ore. china is showing no sign of backing away. what we have seen for the first half of yes here -- this year is iron ore. revenue is from iron ore alone. if there is a questi

jon ferro joins us.is at the heart of mary or drag his promise that he will do whatever it takes to save the euro. the constitutional court in germany has said that we think it is illegal but we will let the court of justice have the final say. >> the core is whether the -- it is the ecb's job and whether they are able to go out and buy government bonds. that is the issue. they tried to sidestep that by saying they would do it in the secondary market. they cannot monetize government debt in the eurozone. the constitutional court has challenged the unlimited bond buying plan. this has been hanging over this plan for a number of months. now, on the face of it, this is a negative story for the euro. but it is actually positive because it kicks to the can -- the can to the court of justice. who is more likely to have this the rubberstamp? the germans or the eu? goldman sachs says that this reduces the risk. this is euro-positive. it helped politicize the response of the ecb to the crisis across the eurozone.

joining us now to discuss this s the head of research and our own jonathan ferro. jon let's kick off with you. analysts are not expecting a change but draghi -- >> the last quarter of last year, that is what it really smells like. we have a weak inflation number. the e.c.b. has got to do something. maybe they wait another month. that's what they have to think about, inflation. that is where the story really starts. will they just put this down to falling energy prices? are they going act and what are they going to do? a lot of people talking about a rate cut. remember, we're at record lows already. coming down to .1. will it make a big difference? the securities market program. now back in the financial risis, the e.c.b. went out and bought the debt of itly and spain. -- italy and spain. they take 175 billion euros and take that money to absorb that liquidity so they are not increasing the money supply. the bundesbank has given them -- od to stop stair sterilizing the bond purchases. it could open the door for q.e. down the road as well. >> let's take a step back. do y

let's get to johnathan ferro to break down the numbers. jon? >> the stock moving up over 4%. the biggest one-day move higher in some 12 months. 2013 profit up 17%. they had a bumper compensation from tiffany's. they had very good sales in january despite significant headwinds for the luxury good market. each month sales missed -- richemont sales missed estimates. watch is shrugging it all off. as for china, they are expecting a bit of a rebound. >> the c.e.o. also told bloomberg that the exchange rate was the one thing that he was concerned about. is there any sign of the pressure abating? >> yes, he is calling it the headache. cutting more than 100 million swiss francs from sales. you have to question what happens here. the central bank has come out. they put a floor on the exchange rate. whether this remains a safe haven currency or not, there is still a trade surplus. it is something they have to learn to deal with. >> thank you so much. johnathan ferro with the latest on swatch. >> let's talk about retails. do you still like some of the stocks? luxury was the darlingor 20

ferro. let's kick off things with jon. n >> its about the outlook.zone. >> we're getting there in exactly two hours. >> what are we expecting? more pressure on the ecb. >> caroline is here, watching iag. >> look at the run on the shares in the past year. 2013 was the best performance of the ftse 100. it very narrowly missed estimates. 70 one million euros. more guidance for next year. they will he -- they want to be there estimates for next year. we didn't get any upgrades or any real clarity. spanish consumer prices ahead of the eurozone cpi data

first, caroline hyde, jonathan ferro and hans nichols also standing by. jon you. rbs, what a loss. >> to numbers that everybody will be discussing this morning, pretax operating loss of 8.2 billion pounds and a bonus call of 576 million pounds. call innot a big bonus the banking world. owned 81%hat it still by the government remains contentious. >> let's get out to berlin. hans, you're watching the ceo of a bank to put in his performance yesterday in front of the u.s. senate. >> i am glad you used the word performance. there is always a bit of theater involved in these committee hearings. senators did their best to try to allay brady dugan. ground, notve much sure how much resolution there is. we will have a full recap later in the hour. >> thanks for that.