within the overall air france klm group. actually, i disagree with the comment that it will give them less respectability and in essence it's tying the two airlines closer, which makes sense on a number of points. especially if you combine aircraft purchases in the future snoo in terms of the gap in profitability between air frances and klm, still a great deal to go in terms of closing that gap, and klm's operating performance still much better than that of air france. in your view how realistic is it that they can actually close that big gap that currently exists >> yeah. there's no question. it will certainly take time, but, again, what can you see -- we did a lot of work that he did in air canada and that we draut brought across air france. he already starts to get that change through he is holding june into the overall air france, and he has already started to restructure the group's regional business. it will take time, but certainly, he will be able to close that group with a margin today what it confirms is the klm go

the battle for control of air france klm. unhappy tois increase its stake in the airline group. more on that on the way. the second summit between donald trump and kim jong-un is underway. both said they were certain this summit would be successful. had a successful first summit. i felt it was very successful. we want to be happy and hopefully this will be equal or greater than the first. >> charles is covering the summit for us. >> both leaders are ahead of a social dinner with their aides. both kim jong-un and donald trump have gotten what they want from thehe summit. both crave the limelight. personality. kim jong-un, because he wants north korea to be respected and accepted as part of the international community. can say it is a success for them, even if thehe substance of what this summit is , it does not necessarily need to yield results. is the key point. they might think the summit is a success, but their teams and the rest of the world probably will not be happy unless something concrete comes out of it. what is the likelihood that is going to happen? >> since the last

what is going on air france klm? the dutch finance minister is coming to paris to explain the business transaction that's turned into a diplomatic spat. andy will meet a south african offer whose -- and you will meet a south african author whose just published her fifth book, and d she is only 12 years old. but first come our top story come alive from paris -- but first, our top story, live from paris. ♪ genie: we will start in hanoi with that surprise early end to the nuclear summit between donald trump and kim jonong-un. president said he decided to walk away from the table over north korea's demand d that the u.s. d dropped all sanctctions against it. that much-antiticipateted second meeting between the twtwo leades was supposed to build on their historic first summit in singapore, but the ended up a meeting. --p-pres. trump: we just left chairmann kim. i thinink we had a very prprodue titime. we f felt that it wasn't a good thining to be e signing anythih. we had some options, but at this time we decideded to not

it up as market conditions support >> one of the key corporate earnings in focus today, air france klmhat fourth quarter earnings spell by 20% as higher fuel costs and strike action proved a drag on the airline. the company has vowed to improve efficiency while attempting to foster great inspiration we go around the desk with john strickland help us make sense of this the stock open lower investors seem to be really spookd by the unit revenue guidance, and they are guiding to passenger unit revenues below last year's q1 is that due to -- investors, nevertheless, seem to be disappointed what do you make of these results? >> i think what one sees and doesn't judge the whole year, and i think they're right to point out that they're used to coming later that always has an effect. other than that, it's hard to explain the risk they have lost some corporate -- the first half of last year, and it was absolutely -- that damaged a result business trends watching, and they have traveling at klm >> when the ceo in september, ben smith, he was really faced with two overarching issues. one, around

another chapter in the increasingly fraught alliance between air france and klm. the dutch government boosted its sharare in the airline holding cocompany ruffling feathers in france. with on the mobile say the government is not informed of this decision know of its implementation. honor i take notice him it's now up to the dutch government clarify its intentions isn't optional. so difficult. the dutch government started buying shares in the holding company on february twentieth spending six hundred eighty million euros to boost its stake to nearly 13%. it will cost around seventy million more to match the frontrunner. for the goal to counter french influence in protection dutch interests like insuring the traffic through amsterdam's triple airportrt is introvertedo paris. to who is insurable is very important for us open economy and that makes catalan also very importance and to secure these interest long term we have decided to buy shares in the whole. building. it also comes as the dust has barely settled from another scuffle centered around klm chief peter l.

it is two flights from newcastle now, through amsterdam with klm.it is virtually impossible to have a business day using the klm option. john carney, we hope you get your money back and hopes to somebody leaps in and rescue is that route. thank you, bye— bye. two—thirds of fathers of premature and sick babies are being forced to return to work while their child is in intensive care, according to research from neonatal charity bliss, and bbc radio 5 live investigates. more than three quarters of parents surveyed said they were not given enough time off when a child was born prematurely or with health complications. the government says it's reviewing the help available. with me isjosie anderson from the charity bliss. we can also speak to lawrence quayle, whose son leo was born 15 weeks early — hejoins me from bedford. welcome to you both. first, lawrence, that must have been a very, very frightening time for you and your partner. tell us about leo. lawrence, we can't hear you at the moment, we are going to try and come back to you. i don't think it i

guy: talk a little bit about air france klm.heus, we saw first signs that maybe we are rapprochement between the dutch and the french. i am wondering if they can reform this business reporter: i think it's going to be pretty hard. some of the union rules and worker rules inside air france klm are pretty onerous. revenues looked ok. we still saw fares decreasing year-over-year. we know the french union, the pilots union just got increases. it is still a real challenge to manage some of these older, bigger carriers from europe. air france, lufthansa, iag. we think there's still a bunch of work to be done to make this airline really as profitable as other peers. guy: in terms of what is going to happen next, clearly the process is going to roll forward. i'm not sure you got a sense of what is happening at alitalia, but i have comments from the finance minister talking about this. the consolidation of the european airline space, when you look at the united states and what has happened in yield markets and what could happen in europe

air france klm also had numbers out. let's get a first word news update. >> the u.s.hina to keep the value of the yuan stable. been discussedso in earlier talks and we are told the two sides agreed it would be part of any final deal. these negotiations are set to run through friday. today, we get a clear to have dovish the fed has become. minutes will be released at 7 p.m. u.k. time. after bouncing back from the december low, certain signals could see it narrowing. palladium has hit a record price. extending a powerful rally triggered by an acute shortage. car manufacturers are scrambling to get hold of the material needed to meet stringent emission controls. it will benefit top suppliers in russia and saudi arabia. swedbank is facing allegations that it was used to launder money. it is alleged that some 50 customers show clear warning signals. a spokesman told broadcaster it has reported suspicious transactions but does not recognize the figures. budget isca's announced today is the finance minister is under pressure to reduce the deficit. is likely leaving the gover

air france, klm, one of the underprfgs names there, and up at the top we've got household goods. some positive results out of la real and hermes. irrespective of what's been happening with china on the ground, the demand for luxury still seems to be holding up, and then technology right at the top as well. i want to bring you to our top story today. that is that the e.u. and u.k. have agreed to hold further talks on breaking the brexit impasse after meetings in brussels failed to yield a break-through. u.k. prime minister held separate discussions with jean claude junker and donald tusk seeking changes to the irish backstop in a joint statement, both sides said their negotiating teams will meet in a bid to find a way through. now, speaking after the meeting, prime minister may, european parliament president antonio warned of the catastrophic consequences of a no deal brexit this is the reality of a no deal brexit it should be a dangerous solution, no deal brexit zoo let's get to wilham who has been waufing all of these dwoemts developments we just heard from tajani they're warnin

the dutch government has bought a twelve point 7% stake in air france klm for six hundred and eighty eight million euros. it plans to go even further until it matches the french government's 14% share in that flagship airline. kaelin is the strongest plank in the franco dutch alliance which is p played a role in recentt tensions between french unions and management. sterling is jump since theresa may open the door to delaying the march twenty ninth brags that deadline. bridgege currency rally to its highest level against the dollar in twenty one months this tuesday -- trading in just under a dollar thirty three there up about one and a third p percent this hour were nearly one at your seventeen the worst case scenario for investors and businesses is a no deal for exi. so any effort to avoid thahat en if it's just to buyy more time s being very well received. still the uncertainty about the u. k.'s futures cat england's as it stands ready to give more support to the british economy if needed. bubu that its options will be limited. we'll do what we can -- but we should not oversell wha

the dutch government's decision to boost its stake in air france klm 214% surprised many. but it comes in response to a series of our people is at the airline holding company. when the lines was first born in two thousandnd for both sides we promised a tanami? french dominate the group's board of directors in the french state retains nearly a quarter of voting rights of the company. this action from the dutch won't be enough because first off the corporations rules give double voting how it's at friends. and secondly what matters in a corporation is is executive. the arrival of new ceo ben smith last august only compounded dutch fears of losing influence. in addition to further integrating the two airlines smith has butted heads with kaelin boss peter albers. he's also pursued an overhaul of the alalliance's leadership structure. creating a new group ceo committee. including the chief executives of both airlines and the french c. f. o. of the alliance. scene is keeping the balance of power in paris. another source of tension while air france remains bigger kaelin is provin

. >> the dutch government has bolstered its stake in air france klm to 13%.reviously held just under 6%. this is part of a move to reach parity in france, the most powerful shareholder in the group. it will put the dutch in a position to ask for more seats at the next meeting. at&t has defeated another effort by the u.s. to undo its purchase of time warner. the decision by the u.s. appeals court of men -- cements the deal. said it would had lead to higher prices for pay-tv subscribers across the country. right toeen given the continue managing u.s. tensions without interference for one year. biding a criminal conviction in france. however, the u.s. labor department did say any further conviction anywhere in the world could jeopardize that status. french court convicted ubs of fundsg french citizens -- in undeclared swiss accounts. that's your bloomberg business flash. you very much. goldman sachs says the global economy may have already bottomed out, and current activities indicators higher than the numbers they have for december and january. the chief econom

. >> the dutch government has bolstered its stake in air france klm to 13%. ,t previously held under% this is part of a move to reach parity with france, a more powerful shareholder. in thell put the dutch position to ask for board seats at the next agm. france's budget minister is saying that they were not aware of the purchase. at&t has defeated another effort to undo its purchase of time warner. the decision by the u.s. appeals court cement the $85 billion deal. this has become administration attempts to unravel the time, saying it would lead to higher prices for subscribers across the country. has boosted cash returns to a record $13.5 billion. the mining's and metals producer pointing to earnings and growth projects. a $4 billionup special dividend and announced a special buyback program, saying they will continue to focus on offering strong return. that is the bloomberg business flash. francine. francine: thank you very much. theresa may has promised parliament a vote to rule out no deal brexit and a vote to the late you departure date. to avoid mass vaccinations and avoided an

air france, klm. lots of aviation.ely an aviation theme of what we're seeing moving to the upside. business isbakery doing well. that stock of more than 5%. pandora is one of the biggest losers. bhp in there as well. done by 2.7% for that mining business. no new cash for shareholders. there is worry about iron ore prices for this is what we see at the moment. negative for bhp and hsbc. european equity markets. opening slightly lower this morning. the european union found proper teri at best retaliation if the u.s. imposes tariffs on imported vehicles with transatlantic trade tensions showing no times of easing. joins us now. good morning to you. give me your thoughts on trade and what can be achieved. you are suggesting there might be very little in terms of material change as a result of any trade deal. a lot of rhetoric but no change. surely something must design signed the dots of line? steen: if you talk to the american negotiators, they are very disappointed. trump wants a deal. the chinese are saying the u.s. can

breaking news coming through on france klm. this is the revenue numbers, 26.5 billion.t is bang in line with the market. that's look at the forward statements, they see 3.2 billion euros worth of and they are below 1.5et ebitda times. like should carriers around europe are enjoying a better time than the low-cost carriers. it seems to be the ability to sell business seats versus low-cost. the fuel bill is going to rise, 650 million euros. this is guidance for them in terms of their costs for the year forward. let's get the business flash headlines with olivia in london. olivia: the tesla ceo elon musk has shared his latest production forecast. he's aiming for a half million cars this year. the numbers are broadly in line with what markets had said before, but it's difficult to gauge, given his proclivities to stretch goals. tesla's total deliveries more than tripled last year. the price surge in iron orchid help boost fortescue this year. verse cap earnings fell at the positive outlooks echoed similar outlooks from bhp. they also announced a special dividend. the iron o

investors are raising concerns about the dutch government's decision to buy a stake in klm -- the netherlandsing a 13% with, getting parity influential stockholders. saudi arabia may be on a collision course with president trump. they are leaning towards extending opec cuts through the second half of the year. president trump has been demanding the oil cartel keep prices down. oil minister says inventories in the u.s. are brimming. milk the don't drink way they used to -- the dairy company hired ever core group to review alternatives, including a sale. that would include dean selling assets or forming a joint venture. david: we turn now to wall street beat. first of all, eiseman ups his brexit shorts. the money manager who famously forced the collapse of subprime mortgages -- norway bought the debt. the $1 trillion sovereign wealth fund. third, revenge of the stock pickers. active managers give passive funds run for their money. bob doll is still with us. let's start with the u.k. this is an amazing quote from steve eisman. freakin clue." what are you thinking? bob: i'm not disagreeing with h

extra legs and it can only do that that if it cut the fear below those prices offered by aer lingus and klmg, so you can get caught out. but it goes for the economy where bleaker than expected. they had seen a slowdown in growth in the global economy but let's have a look at an a nalyst economy but let's have a look at an analyst at hargreaves lansdown. is this going to brexit uncertainty, global slowdown or a bit of both?l bit of both. is particular when you look at the decline in business investment. there not as much investment. there not as much investment as it is to be because they are not certain what the uk economy is going to look like in six months or a year time full stop the global growth picture is not quite as rosy as it was and it has led to grim reading for the economy across all sectors, especially concerning is the decline in december. we shouldn't count our chickens just yet because it isjust one month but if that trend continues it could spell a bleak 2019. last week we had the bank of england say they will downgrade their forecast. there have been downgrade for other eu