hopes of a european mega—exchange between london and frankfurt are fading fast. the london stocknge says the regulatory hurdles are too high. nokie hopes to revive its flagging the classic 3310. we'll get a hands—on preview from the mobile world congress in barcelona. welcome to world business report. i'm sally bundock. in a minute, we'll look at the potential collapse of the merger between the london stock exchange and deutsche. but first: the clock is ticking, with speculation mounting the uk prime minister may trigger article 50 on the country's departure from the european union in early march. since the referendum, there have been major concerns in london it could lose its position as europe's financial capital. but one of germany's most senior central bankers tells us why he believes the city will retain its crown. at present, britain benefits from so—called "passporting rights" which allow uk—based banks free access to the european union. the city of london's main industry lobby group appears to have given up hope on maintaining these rights and is now campaigning for "equi

nothing wrong, and there is a suggestion that this is being done to delay the merger with the london stock exchangegerman authorities who are investigating, because the newly merged deutsche boerse and london stock exchange will be headquartered here in london. that is not liked very much in certain circles. he says it is a storm in a teacup and he has done nothing wrong. it looks to me as though it was all above board, but we will see. so storm in a beer stein. and is fillon toast? french toast, perhaps. this is having an impact on his popularity. he was the person who could certainly see off le pen, currently the most popular of the candidates standing in the election. these numbers have been eroded by the suggestion of wrongdoing. it is not just in the numbers of the people who will vote for him. on the french right they are wondering whether he will be the standardbearer for the right. if he is not cleared fairly swiftly this will continue to eat into his popularity. he was circling in the wings is —— who is circling in the wings is —— who is circling in the wings is his old rival, who says he

"brexit" is screwing somewhat with the valuation of the london stock exchange. here is a briton exit from the e.u. makes cross-border deals a lot more difficult. guess what? that could have impact on number of stocks that actually list on the london stock exchange. liz: becomes less valuable. >> becomes less valuable that is what bankers are doing, trying to figure out for an american exchange like the ice, intercontinental exchange or like singapore, they're trying to figure out how much this thing is going on with "brexit." a lot of people say there would be no impact with "brexit." i'm not saying there is broad impact, but one broad deal was a bad thing. i actually think "brexit" personally was a good thing. it is having an impact and on the valuation of the london stock exchange from what i understand ice -- liz: uk pound hit a 12 day low. >> as we're speaking. liz: 12-day low, but it lost a fifth of its value since "brexit" there. are a lot of intertwining issues here. >> i will say this, these exchanges are interesting. why do we care about them? guess what

hopes of a european mega exchange between london and frankfurt are fading fast. the london stock exchange says the regulatory hurdles are too high. live from london, that's our top story on monday 27th february. doubts about the $30 billion merger plan come as a top german banker tells the bbc that leaving the european union is not the reason for penalising the city of london. also in the programme: ringing afamiliartune. the nokia 3310 makes a comeback but will help its new makers stand out from the crowd at one of the mobile phone industry's big events? this is how the european markets begin the trading week. in positive territory. we will talk about what will move them later in the week later in the programme. we are joined by a french entrepreneur described as a rock star in the world of proud funding. she will reveal to us her latest plans shortly. and the winner is... la la land. moonlight? sort out the autocue! what a night. what is your warren beatty moment? get in touch. welcome to the programme. one of europe's biggest mergers looks like it is off. the london stock exch

london stock market was running. the share price is gone from about £10 to about £30, roughly. that is phenomenal. since the announcement of the merger in debris last year, the london stock exchangeone 19%. but it is interesting because you have talked about a cutback in the share price. but it only fell 3% yesterday. that means that deutsche borse is very powerful. there is also a certain degree of cynicism over that in the long—term. degree of cynicism over that in the long-term. you do it is better that they are part? —— they are a part. long-term. you do it is better that they are part? —— they are a partlj think basically most people ‘s fears are if the deutsche boerse work to be the dominant partner over a period of time, that the gacy paraglider. and if brexit goes through without being watered down, and it will come at london will still be the number one financial centre. in new york and other parts of the world 's, and this is one of the reasons why the two are going together. they views, in my opinion, a pathetic excuse, this italian thing. but i think the real reason that we are certain that if this merger is called off, i don't think this will be the end of it by any

the london stock exchange said the european commission is unlikely to approve its planned moisture --erger. they said the board will not commit to divesting its mts unit. to see you. talk more about what nts is and if this is a real dealbreaker for this merger. >> it is a platform for trading government bonds in europe. they said they would do best some businesses, including the french clearinghouse, but then they unexpectedly made additional the man's about selling nts. me, how dead is this deal really. historically, we have seen some failed attempts and they have been resuscitated. how likely is that in this case? >> both companies say they want to do a deal and are trying to find a way to make it work with regulators. the official decision probably will come until the end of march from the european commission. both sides say there are still in gauging with regulators, but it is looking unlikely at this point. yousef: we will leave it there. thanks a lot for that update. let's check in and see how the asian equity session is holding up. plenty happening there. juliet has the details

mac: the question is who is next to tie up the london stock exchange?companys has try to come nations over the 10-15 years that have not worked out. cutsche bank -- the bonus to 2016 bonuses, 80%. that is a massive cut. and magnitude that was completely unexpected and rbs is going to cut bonuses by a percent. 80% is just unbelievable if you want to retain talent. that makes it difficult. guy: yeah does. it will be interesting to see how that one plays out. matt, the other thing we should mention is the -- what is happening with tesla. we were talking about exchanges getting together. the bank insurance model has been around for quite some time. like it will not work for intesa. appears he is saying we businessted you of a and making shareholders get by. that means money comes back to them in another way. another deal that is struggling. it is interesting to see how the european ceos are trying to move their businesses forward and make the business model works. mac: they want to do consolidation and they are looking for ways. with intesa, it was a busine

the london stock exchange is with a new proceed regulatory hurdle.ialsropean union have requested the defenseman. the lsc said they could not commit to the investment and would not submit a remedy. down trump is proposing major defense spending increases and cuts to the environmental protection agency's and others. the has officials said that outlines of the budget will be made public today. u.s. governors have told -- have of americans been told that millions could lose their coverage under a repeal. 20 million who gained coverage under the affordable care act and the white house says that president wants nobody to lose coverage. a third endorsement in a week and a suggestion that he is a favorite to win in the election. hurling le pen is expected to win on the first ballot. korean court is having the final hearing over the president, who was accused of having undue influence. the court will rule on the legality in two weeks. in the meanwhile, the prime minister has rejected calls for a special investigation into the scandal. increaseill look to nat

london stock exchange announced it wouldjoinforces. e approved by the european commission. let's get detailed analysis of this with laith khalaf, from hargreaves la nsdown. insurance was amongst the biggest fallers today. how is the shake—up going to affect them? well, the big change will be in terms of the compensation they have to pay on personal injury claims. this is about a fairly technical ruling, but has wide ranging effects. it is the discount rate that's been used to value those compensation claims. and the department ofjustice is saying that has to be priced off indexed linked quilts. anyone who knows anything about the guilt market, it is heavily manipulated because the bank of england is engaged in its quantitative easing programme. you have got pension funds buying up lots of index—linked quilts and it depressed the yield on them, but that's the yield the department of justice says that insurers need to use to calculate those compensation claims and that has the impact of increasing them. so in the short—term, that means pr

talking up the london stock exchange, the shares in the exchange itself falling more than 2.5% aftere than 7.5%, they are among the big four lists after the change that will happen to pay—outs for victims. more later this afternoon but back to you. once upon a time, when the idea of taking pictures on your phone seemed laughable, and twitter wasn't even a thing, the nokia 33—10 ruled the world. but when smartphones took over, it quickly fell out of fashion. but now it's making a comeback, and you can still play a game of snake on it, as our technology correspondent rory cellan—jones has been finding out. barcelona, and as the mobile phone industry arrives for its annual jamboree, there is nostalgia in the air. singing the nokia tune. nokia, a name that used to rule the mobile world, is making a comeback. this was its first chance to make a big splash. and, with a range of new smartphones, it unveiled something very retro, last on sale in 2005. let me reintroduce the nokia 3310. you cannot do much with this phone except make calls and play a game of snake, but the battery lasts foreve

. >>> the london stock exchange says its proposed merger with it deutsche boerse is unlikely to be approvedy the commission. they asked them to sell 60% trade to satisfy trust concerns over the merger. they called it disproportionate. we work if the deal closes. the company could be valued at more than $20 billion. takata may be moving to pay its victims of the exploding airbag. it's launching a program that will steer consumer einjured by the faulty airbag. >>> more stocks to watch. michael kors and coach reportedly making it through to the second round of bidding for kate spade. barren says slowing sales could cause shares of harley davidson to decline. the customer base is shrinking and its international profitability haz been hurt by the strong dollar. and san pallo won't be -- said the deal won't enhance its growth prosspects. jenerali slipping 4%. >>> deutsche bank has cut its bonus pool by nearly 80%. in an interview with the germ ennewspaper, the chief administrative officer admits the cuts are tough for staff but the decision had been taken very consciously. deutsche bank hasn't pa

. >> german prosecutors are investigating the head of stock exchange operator, accused of knowing about plans to merge with the young -- london stock exchange. the purchase was made in december 2015. he could be found guilty of insider dealing. the supervisory board has described the claims as groundless. that is it for your business news for this hour. >> thank you very much. a quick reminder of the top stories we are following for you. angela merkel has been in turkey. the two leaders have not made much progress towards defrosting relations. i will be back to take you through the day. the end of the world order as we know it. what and who will replace it? amber will be my special guest. we are back after a short break. ♪ >>> on this week's "wealthtrack" are you prepared for the biggest investment change in nearly two generations. financial thought leader historian and bond expert james grant says we better be. he explains why next on consuelo mack "wealthtrack." ♪ >>> new york life, along with mainstay's family of mutual funds, offers investment and retirement solutions so you can help your clients keep good going. ♪ >>> ad

the 29 billion euros merger of the london stock exchange and is deutsche borse could collapse.n today. shares for both the lse and deutsche borse fell quite a bit on monday and it is speculation. china daily is looking at the visit by china's top diplomat to the us. they say that it could pave the way through meeting between the presidents of the two global superpowers. trade and security are highlighted as issues where they could be differences. the times reports that an outsourcing company in the uk may implement an employee —— appointan in the uk may implement an employee —— appoint an employee representative to its board. this follows theresa may's call for businesses to have employee directors. and finally, fancy a trip around the moon? next year, in 2018, two private citizens are going to go ona two private citizens are going to go on a spacex mission around this incredible object, which actually, we have not been two to 45 years. cani we have not been two to 45 years. can ijust we have not been two to 45 years. can i just checked, we have not been two to 45 years. can ij

a big merger between two european stock exchanges that looks like it might be in trouble. >> a proposed merger between the london stock exchange and its london -- german counterpart appears to be all but dead. they made a deal to join forces a year ago but european antitrust regulators have insisted the u.k. exchange sell off its majority stake in an italian trading platform. couldly way the deal proceed now is if regulators change their mind and that is not likely. if the deal does fall through it will be the third failed attempt at a merger for the exchanges. genie: what has that been doing to the markets? >> it is not good news for their shares. both are down over 3%. european indexes in general staying near the flatline on the news. similar for the frankfurt dax. let's take a look at some more of the day's business headlines. the trump administration is reportedly looking for ways to oppose trade sanctions without going through the world trade organization. the office of the u.s. trade representative has been directed to explore legal options outside for sanctioning countries including china. the wto has bee

the london stock exchange says the european commission is unlikely to approve its planned merger withture boorse. -- deutsche boorse. mts is an electronic platform for government bonds. the $13 billion merger would have created the largest player. and the u.s. justice department are said to have nominated a veteran lawyer. kenneth feinberg's appointment will be discussed by a court in detroit today, where sources say that they are expected to admit hiding the dangers of its airbag s for 15 years, linked to 17 deaths. police in malaysia say the airport where the brother of kim un's brothers death is safe. vx nerve agent i was discovered in the death of kim jong-nam. demandedea has malaysia stop investigations. two big names joining forces by issuing $600 million in new shares from a softbank unit of foxconn. foxconn were on more than 54% of the venture and take the lead in investment. the chairman has been re-tooling his empire, investing in emerging fields like virtual reality and artificial intelligence. global news 24 hours a day powered by more than 2600 journalists and analysts in

nejra: the london stock exchange said its $13 billion tie up with deutsche boerse is unlikely to proceed after a new regulatory hurdle signaled a potential end to the effort to create a dominant european exchange. officials had requested that the nsc divest its trading platform, but the nsc said it couldn't commit to such a move. the u.k.'s house of lords starts a detailed examination of prime minister theresa may's exit legislation today. a number of amendments are expected to be put forward, including one which would give parliament a binding vote on the final brexit deal. the pound is down against all its major peers after a report said may's office is preparing for sultan to call another independence referendum. the independent french presidential candidate emmanuel macron has won a third endorsement in a week on the suggesting he is favored to win the upcoming election. techcrunch is seen challenging francois fillon with the far right leader marine le pen expected to win the first ballot. she is currently expected to lose in the second round. the suspended president of south korea h

the london stock exchange and it's german rival the deutsche boerse say their coming together is unlikelyentre in europe. from a german prospective should the business of a bank be looking to moving to germany? we will not accept empty shells. we will not accept empty shells. we will not accept letterbox companies. we will make sure that the management, the controlling, the risk controlling etcetera is done out of germany. that does mean that we couldn't have back—to—back booking models, but dual—headed structures and the like is not something we would give. trinity mirror has seen annual pre—tax profits rise by a quarter to £133 million. it is the uk's largest regional news publisher. revenues from print advertising fell and so did the sales of the daily mirror newspaper. the chief executive said they saw digital advertising increase and the group was become more digitally focussed. we've seen pop stars and actors from past decades making comebacks — and now a phone company is trying to do the same. remember the nokia 3310 — well, 17 years on it's being relaunched. many consider the orig

executive of germany's leading stock exchange is being investigated by prosecutors over the purchase of shares in the company — just weeks before it began merger talks with the londonhange. deutsche boerse says carsten kengeter‘s shares were part of an incentive scheme and they are cooperating with the authorities. the share price rose significantly shortly after he acquired the shares. germany's biggest lender deutsche bank has posted a loss for 2016 of $1.5bn. it's an improvement from the year before but reflects the high cost of legal cases and fines the bank has incurred including the $7.2bn penalty it paid in the us over mis—selling linked to the 2008 financial crisis. the bank has more money set aside for such costs and has also recdued it's operating costs. the bank's boss said it showed resilience in a particularly tough year. look at this, this is a story up your alley. it is about airports. heathrow‘s third runway will mean more domestic airport legs, but when? 2030 ? more domestic airport legs, but when? 2030 7 it more domestic airport legs, but when? 2030? it will take forever! that is more on heathrow expanded sometime, not soon. they have been hammere

executive of germany‘s leading stock exchange is being investigated by prosecutors over the purchase of shares in the company just weeks before it began merger talks with the londonating with the authorities. the share price rose significantly shortly after he acquired the shares. let‘s start with facebook, because despite predictions of a slowdown, the world‘s biggest social network keeps getting more popular, more profitable, and more powerful. last night, it reported quarterly numbers were much better than expected. they round off another year of rapid growth that has seen it become one of the biggest advertising businesses on the planet. its massive reach has also raised concerns about the amount of influence it can have and the reliability of information that‘s shared on it. joining me now from the new york stock exchange is our north america business correspondent michelle fleury. it seems to be getting bigger and bigger. other social media sites may have challenges but they seem to be overcoming those hurdles?m have challenges but they seem to be overcoming those hurdles? it is staggering when you talk about two billion users around the world and the compa

they've been talking about a merger for years and last spring the london stock exchange and deutscherger is likely to collapse. it's after the lse said the deal was unlikely to be approved by the european commission. earlier, neil wilson, a senior market analyst at etx capital, told the bbc, where he thinks the problem lies. i think the european commission and the european regulators had never been terribly comfortable with the deal. the whole tie—up of lsc and deutsche bank never sat comfortably with either side of the channel. i think ever since brexit the whole concept of having the merged entity based and headquartered in london was something the european commission and regulators were not very happy about. the london market traded higher, but shares in insurance companies slid following that change on how personal injury claims are calculated. the change, made by the ministry ofjustice, is expected to increase pay—outs to accident victims and affect insurance companies' profits. direct line shares fell 7.5% while admiral group dropped 3%. that's it from me, we will be back with

their ceo john tutte joins us from the london stock exchange.u very much for your time this morning. as sally said, yesterday we heard government ministers calling the uk housing market broken. what's your reaction to that? well, good morning everyone. i think perhaps it was an u nfortu nate title everyone. i think perhaps it was an unfortunate title for the paper. i don't think it's broken. the industry has increased its output by 50% in the last three years. what was your response to the white paper? there was mixed reaction. most say they were quite disappointed. the one thing to put in context is it is a consultation document, and that consultation is open until the beginning of may. the important thing is how it moves on from here. there is a whole raft of measures proposed in there and that needs detail. it is good news that local authorities, there will be more pressure on them to allocate their housing and put their plans in place because 60% of local authorities have not got plans in place yet. to put them under pressure to do that will

the london stock exchange says its planned merger with the german financial exchange deutsche boersen had requested that it sell its stake in an electronic bond market, mts, and this would not be in its shareholders' interests. business rates are a ‘ticking time bomb' for small companies in england, according to the shadow business secretary. rebecca long—bailey said immediate relief was needed to protect thousands of small companies before new valuations take effect in april. the government says it has established a transitional fund to help businesses facing big jumps in rates. they were once the name in mobile phone handsets — that is, until smartphones came on the scene. but now nokia has launched a comeback bid. the company unveiled three new smartphones in barcelona last night, before the start of mobile world congress, the phone industry's big annual meeting. but it was a reissue of a past handset that got the most attention. our technology correspondent rory cellan—jones sent this report. barcelona and, as as the mobile phone industry arrives for its annual jamboree, there is

lauren: investors eyeing troubles in the london stock exchange to force mergers with shares down 4%. but the money than 16 points. dax in germany at 13 points. trade to put the another record? 11 straight closing records for the dow. we haven't seen this for 30 years. dow futures looking on two points. s&p futures on change. nothing features down five. gross domestic product, pmi members around the globe. trump speaking, yellow speaking. a big week ahead. lauren: it will lessen up arrow, up about 50 cents. gold up for weeks in a row getting back $1.70 today. nicole: how is the u.s. dollar faring? the mexican peso japanese yen showing strength against the u.s. dollar today with the u.k. pound under pressure today in canadian dollars lower. truth revealed on the 10 year treasury down 2.34%. snapshot. goes public this week. snapshot begin in 2011 nice enough to send disappearing pictures. snapchat wants to be known as the camera company. the camera embedded in sunglasses cause but to close something to $129. snape shares are beginning to trade on the new york stock exchange doubled beyo

of his purchase of company stock just before the company said it was negotiating to buy the london stock exchange group. the company try to win over regulators for this merger. it has faced criticism at home to combine firms. he reiterated the deutsche force risk -- shares little changed, today. been in the it has european mining sector in the last year. from dunces to darlings. awry as in january of last year when the stoxx 600 racing -- resources index fell to a 13 year low. they are now the darling of the stock index, the best performers. they are getting cheaper and cheaper because analysts are rushing to upgrade their profit forecast to reflect its improving outlook for the global economy and a surge in metal prices. it actually outpaced the gains in stock prices, sending the blue line valuations lower. there is the diversions between price and valuation. does that tell us the price has further to rise? 90 minutes into the trading day. julie: i will steal that for the name of my memoir, from dunst to darling -- from dunce to darling. stocks pulling back in the u.s. little changed and now the

mark: the london stock exchange and dr.are making concessions to win approval for the 12 the dollar merger. the two firms will address regulators objections about clearing cash bonds and repurchase agreements. takeover would create the largest market operator in europe. is uncovering what may be a $100 million fraud. says the treasurer in its south korean subsidiary has gone missing and expects an embezzlement scheme. the loss will be taken off of last year's results. priceld's is cutting the of its strength to overcome the slump in fast food sales. the world's largest food service company will offer one dollar sodas and two dollar specialty drinks in the u.s.. the chief executive has introduced a number of promotions the last couple of years, including the all-day breakfast. time for our bloomberg quick take, where we provide context and background on issues of interest. japan's prime minister shinzo abe as shock therapy for an economy that has been stuck for 25 years. he tells voters the strong economic medicine he is pre

the london stock exchange says the european commission is unlikely to approve a merger --h deutsche version of it the $13 billion deal would have been europe's number one trading operator. let's take a look at shares. we down about 6/10 of 1% this afternoon after missing the earnings target. expecting more than $780 million. the environment in a 2017 is said to remain challenging. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. let's take a look at the markets. trading this afternoon. inare seeing a pre-much flat china. shanghai shares are down one quarter of 1%. this is bloomberg. ♪ ♪ cory: i am cory johnson, and this is the "best of bloomberg technology," where we bring you the top interviews from the week in tech. coming up, snap hits the streets with its ipo roadshow and faces a slew of investor concerns. the problem with snapchat's growth ahead. plus, tesla pops the hood, reporting fourth-quarter loss of midst stalling vehicle sales. beatingbritish company intel and the semiconductor market. our exclusive interview with arm hol

a german prosecutor is investigating the purchase of company stock months before the exchange announced talks to acquire londonxchange. it looks into the trade place on december 14 2016 according to a statement from the market operator. it emerged on separate 23rd 2016 and takeover discussions were underway. the shares rallied 6.7% between those days. u.s. companies including facebook, microsoft, apple, amazon circulating an open letter to donald trump expressing concern about his recent order on immigration and offering help. according to people familiar with the plan the goal is to publish the letter this week. are many involved sectors but it is not clear which will agree to sign on. that is your business flash. anna: thank you. the bank of england will deliver its military policy decision -- monetary policy decision. them to raiseect productions while keeping the key interest rate at a record low. manus: for more on what to expect from today's decision let's head to the bank of england. mark carney has a very fine line to tread today. he is in neutral mode but any surprises under the hat? reporter: absolut

london stock exchange and deutsche. hange says the merger is unlikely because it does not want to sell its electronic government bond trading program. the eu officials made that a condition. tesla getting hit in the premarket. downgrading the cell neutral. ,oncerns about model 3 execution, and cash needs. warren buffett is fine apple aggressively. over 133 million shares. david: president trump gains the white house by promising a progrowth agenda that would create jobs and improve the lot of the average worker, especially in states like wisconsin, michigan, and ohio. with us now is someone who has expressed hope about his ability to do just that. david herro is at harris associates, which has nearly $100 billion under management. welcome back to the program, david. my question to you really is what does donald trump have to deliver to that core audience, his core voters to say, you've got more money in your paycheck, you have more money in your paycheck, i made your life better? david h.: i think what he needs to do is

the london stock exchange heading to more collapse. the u.k.arket regulator rejecting the bonds to sell one of its holdings. they said it couldn't commit to sell its electronic trading platform. it is inclined to submit a counter proposal. deutsche and lsd dropping now. i suppose they failed before to buy. should we be totally surprised? >> this isn't a very tough market. budget had one that fell apart in the european commission is very difficult. she has only blocked one deal. this is the sixth or seventh. it looks like it is going to be withdrawn. mark: what about interest rate derivatives? has come down to this nts division. fewhe statement they sent a months ago was very complicated. there were a lot of surprise issues and this one didn't get a lot of headlines. but apparently it was a sticking point. vonnie: last year, they were thinking about bidding. but might ice jump in again now? >> if they have an opening. but particularly, these issues worked on for today. an issue, the u.k. government concerns will still be an issue. those haven't

from the london stock exchange, i enjoyed by the companies ceo.ou say the you are comfortable in your outlook for the year ahead. how much is that based on your american business? >> america is about two thirds secondbusiness but our biggest market is greater china. we saw growth across the world. we are in 100 countries. viewe have a pretty good and we also undertake a long-term view in our business. it takes a long time to build up our hotels. there is some uncertainty out there but we are confident and that is what drove our decision to raise our ordinary dividend by a 11% and also return $400 million to shareholders. anna: you have given us a bit of detail -- what do see in your u.s. business? is there such a thing as a trump boost? some measures of the u.s. economy, some markers are doing victory.st trump what you see in the demand picture for the u.s.? >> in terms of guest demand in the shorter term we saw a decent performance in the fourth quarter. ongoing is even within negative impact in oil markets. in terms of longer-term, we signed mor

executive of germany‘s leading stock exchange is being investigated by prosecutors over the purchase of shares in the company — just weeks before it began merger talks with the londonust provide support for communities affected by the expansion, ban flights for six and a half hours during the night and pay above market value for homes that will have to be demolished. issues for anti—heathrow campaigners include noise and air pollution. sarah is mp for richmond park and north kingston. she is against the building of the third runway. clearly your constituents are concerned about noise pollution, but do their concerns trump those of the wider economy, particularly with brexit looming. surely more investment should be more important? 0bviously investment should be more important? obviously is not just investment should be more important? obviously is notjust about noise pollution. that‘s a busy very important but there‘s also a pollution, which is an issue for people across london and the south—east. there‘s also the wider climate change considerations, but also we just climate change considerations, but also wejust don‘t climate change considerations, but also we jus

the london stock exchange, the european commission unlikely to approve the planned merger with deutscheoard. they will not commit to divesting the nts unit as requested by competition watchdogs. there is an electronic trading for european government bonds, asserting the billion dollars byger, regulators will rule april 3. takata and the u.s. justice department appeared to have nominated a veteran lawyer to run the fund to compensate customers for the potentially lethal products. kenneth feinberg's appointment will be discussed by a court in detroit where sources say takata will admit to hiding the dangers for 15 years. they are linked to 17 deaths around the world. u.s. governors have been told millions of americans could lose their health coverage under republican plans to replace obamacare. consulting firms as earlier stated thisackenzie over the weekend. 15,000 people gained health care that channeled billions of dollars to the state. the white house says president trump once nobody to lose coverage. the south korean talk to divisional court holds its final hearing on monday on the i

the ft says the london and frankfurt stock exchanges are gambling on authorities giving the green lighteir multi billion euro tie—up. and according to the express, freezing gales will hit the uk over the next 10 days. they love the weather story, don't they? sometimes they don't get it right! the daily telegraph, a headline we haven't seen for a while, the greek debt crisis. a new one according to the paper. that's based on what the imf have said, warning that greek debt is on this awful path and the question is, going to bail them out? they've said they don't want to do it, the imf are saying, not us this time. it's interesting because they will go to the eu and say that they need to help. injuly the eu and say that they need to help. in july is the eu and say that they need to help. injuly is going to come to a head because greece owes 7 billion euros. germany at the moment is really a m euros. germany at the moment is really am willing to help bail them out because angela merkel has an election coming up and a lot of populist parties in germany are saying, why should hard—working ger

authorities have rated they're -- investigating his purchase of company stocks months before the exchange announced talks to buy londonhares rose almost 7% between the time he bought the stock and when takeover talks were revealed. they call the allegations without foundation. that is your bloomberg business flash. the first super thursday of 2017 means the bank of england delivers its monetary policy decision and a news conference with mark carney. officials expect him to raise conditions. nejra cehic is outside the boe. and we'll all be on how governor carney sees inflation expectations. how many questions as a going to field about the weaker pound? few.: likely quite a we look at this decision in just under an hour, that rate decision at 12:00 london time. we are not expecting any change to the key benchmark rate or quantitative easing. what we are expecting is from mark carney to upgrade the 2017 forecast growth and nation. inflation. sterling has stabilized, but we have seen solid growth and we have seen inflation continue to pick up. the question is what is he going to say about them being less tolerant about of

executive of germany's leading stock exchange is being investigated by prosecutors over the purchase of shares in the company just weeks before it began merger talks with the london price rose significantly shortly after he acquired the shares. quarterly profits at the petrochemical giant royal dutch shell have fallen. they are 2. £2.7 billion. the company blames the low cost of oil price and the restructuring of the business. let's start with facebook, because despite predictions of a slowdown, the world's biggest social network keeps getting more popular, more profitable, and more powerful. late on wednesday, it reported quarterly numbers that were much better than expected. they round off another year of rapid growth that has seen it become one of the biggest advertising businesses on the planet. its massive reach has also raised concerns about the amount of influence it can have and the reliability of information that's shared on it. so, just how big is facebook now? by the end of last year, over 1.86 billion people around the world were logging on at least once a month — so called monthly active users. that's an annual rise of 17%. one and a quarter billion

finally on a separate note, mention what's going on in europe, london stock exchange is poised to mergerds in a very short period of time, a matter of weeks. but there may be a serious problem here. regulators in brussels said they wanted to sell a very small unit, italian based fixed trading platform and say this may not be able to happen, whole deal is in jeopardy. not clear if this is a smoke screen for broader concerns about the deal. so the company may be based in london. that may be a big problem now. some people don't like that deal now that london -- that the uk is heading out and voting to leave the eu. so more on that as we come closer to details. right now the dow down 41 points. guys, back to you. >> bob, thanks so much. bob pisani. let's get to the bond pits and check in with rick santelli at the cme. good morning, rick. >> good morning, carl. two-day of tens couple things you should look at, first of all at 8:30 eastern we had durable goods data. headline wasn't bad. internals a bit on the weak side. and you can clearly see that it turned a bit lower in the form of yields.

a london stock exchange group says its proposed $30 million tie up is unlikely to happen.ew regulatory hurdle has signaled an end to the year-long struggle to get the deal done. asked them to divest and it said it could not commit because of investments. bloombergur latest business flash. we will talk about the s&p and another record. this is bloomberg. ♪ ♪ you are looking at midtown manhattan, live from bloomberg world headquarters in new york, i am vonnie quinn and this is humbert markets. let's start with the headlines this afternoon. mark crumpton. >> i will pick this up from here. we all need answers on the extended contact -- contact between president trump and the russian government. defending the media role in keeping world media into -- in check. on the today show, skepticism about the president's approach to immigration, saying he is in favor of an immigration policy that is welcoming and oppose the law. canada marine le pen went into attack mode in france today, slamming opponents in the race to the presidency. she stuck -- she took special into her centrist lov

hopes of a european mega exchange between london and frankfurt are fading fast. the london stock

. ♪ all by myself sdoent want to be all by myself ♪ ♪ anymore >> squawk box", the daily london stock exchangeit proposed merger with deutsche boerse is unlikely to be approved by the european commission. the commission asked it to sell 60% stake in fix trading platform to satisfy antitrust concerns. they called it disproportioned. soft bank nearing a deal 92 vest more than $3 million in u.s. start up, we work. if the deal closes, the company could be valued at more than $20 billion. we work provides shared work spaces in conference rooms around the globe. coming up much more from warren buffett. here's a look at last week's s&p 500 winners and losers. including best picture, "la la land." we'll be right back. say carl, we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $6.95 per trade? uhhh- and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $6.95

german and british politicians are locked in a tug-of-war over whether the new stock exchange should be based in frankfurt or london. a debate that might be irrelevant in the end. soanya: making a profit with art is a difficult art form in itself. investors and art houses like celebes and christies are only too aware of that. last year, global auction houses all revenues shrink to 11.8 billion euros, 22% down year on year. artworks worth more than 10 million euros are an especially hard sell despite strong marks like china, which is now the world's biggest. reporter: amaga giuliani changed hands for almost $56 million. -- a picasso sold for 63 million dollars. everyone who is anyone and who has the necessary money invests in artworks like these. in 2013, auction houses sold works of art valued at 16.2 billion dollars. sales in the following year were even higher. but then, things slow down. in 2016, auction houses only had a turnover of $12.5 billion. the reason this potential buyers would rather hold onto the money and late, so works which cost more than $10 million are having an especially bad time. the exception

stock exchange. you name some of the brand, most households have some of their products. thank you joe. thousands of prison officers atjails in london pay increase of between three and five thousand pounds. ministers want to try to boost recruitment and retain existing staff at prisons under pressure from shortages and violence. but the prison officers association dismissed the pay rise, saying it won't help a system in meltdown. here's our home affairs correspondent, june kelly. this is how many officers it takes to contain one violent prisoner. every working day, staff are fighting simply to keep control. the £12 million in extra pay announced today is aimed at bringing in new recruits and paying some existing staff more. here in wandsworth jail in south london, officers will benefit. the offer is limited to prisons in the capital and the south—east. a divisive move, according to the prison officers association, who compare it to trying to put a plaster over a gaping wound. we're going to welcome additional money for our members, of course we are. but we don't think this goes far enough to solving the prison crisis. we believe it

london exchange. this is what we're looking at in terms of the index and are very -- various index for. material stocksding those gains. i want to show you what is happening with the large across a couple of currencies. the 10 year yield up 2.44%. the dollar tracking that that dollar-yen, up .4%. 113 .60. a voting member this year set a mark hike is not off the table. the changing the expectations but we are seeing a stronger dollar there. the yen will slumped to 1.20 in six months and rebalance to 100 by early 2018. wanted to quickly show you the hh -- you just ec reaction. a loss for the fourth quarter. $1 billion stock buyback following last year's $2.5 billion repurchase. we also saw lower net interest margin. you see everything you want on their. down 4%. it is dropped as much as 4.3% in hong kong. the biggest drop since brexit. let's turn our attention to commodities again. oil producers cutting the output. global oil prices shifting. russia has overtaken saudi arabia is the world's largest crude oil loser. -- producer. good to see you this morning. how much should we read into these latest? they

london and new york. i am mark barton. vonnie: i am vonnie quinn. black stone feeling confident about the u.s. housing market. homes andd invitation has begun trading today on the new york stock exchange up about 1%, exactly 1% and 20 cents. invitation homes ceo joins me from the new york stock exchange. john, congratulations. is this a sign of confidence? john: i think it is a great sign in the rental housing market. it has been a great opportunity to build a business and we are at the right stage between our organic growth and providing great customer service and it is time to go public to have investors. vonnie: what is the plan for invitation homes? you are looking to raise capital, to do what? by more homes for lease? -- buy more homes for lease? john: we are really working on providing the overall residential experience and filling out our margins and growing our revenue. it is the right time for as to be public and bring in new investors. cut frankly, the right time to focus on what we do well. vonnie: a little background, founded in 2012, almost $1 billion, $500 million for sales in the first five months. it is a good time to take advantage of depressed housing prices. does th

london metal exchange. we're seeing weakness coming thru in shanghai. copper, aluminum tun there as well as iron ore which i'll talk about more. that weighing down the materials stockoviding the biggest drag on the asia pacific index down 1.5%. i mentioned iron ore, getting a bit of a reality check. we've got futures in singapore retreating for a third straight day after prices lifted to the highest level since 2014. iron orpe up 18% last year, perhaps that rally is being seen as a little overdone. finally work wanted to show you the dollar, stabilize, trimming its weekly decline after a slump on thursday, following comments by treasury secretary steven mnuchin. this is the bloomberg dollar index. if you look at dollar against the yen, it's strengthening from a two-week low versus the yen. anna: you can go to bloomberg and see what's making it into today's edition. the cover story about the banking sector. it's been a busy week for bank earnings so far. the focus on r.b.s.'s report will be on its plans, its scrapped plans for williams and glensdale and when it may pay a dividend. investors will want ed of c.e.o. bill winters' turn around efforts. they want to see t

i'm sally bundock in business: hopes of a european mega exchange between london and frankfurt are fading fast. the london stockxchange says the regulatory hurdles are too high. back to the good old days! nokia hopes to revive its flagging fortunes as it resurrects the classic 3310. we'll get a hands—on preview from the mobile world congress the award for best director has gone to damien chazelle for the musical, la la land. "city of stars" from the same film has won the oscar for best song. and casey affleck won best actor for "manchester by the sea." just one more award. best picture. the bbc‘s peter bowes is in los angeles. you know everything. tell us. fascinating night. five minutes of the show left to go. we will find out who won best picture. la la land got six, not as many as people predicted. emma stone got best actress, which was expected. casey affleck got best actor for manchester by the sea. the director of la la manchester by the sea. the director of lala land was the youngest ever to get best director. it also picked up to get best director. it also picked up best production design. it has been a