after all of that, manus, the u.s.ill still not have recovered all of the 8.8 million jobs lost as a result of the 18-month recession that ended back in 2009. let me just give you a sense of demand. the tie it still for jobs in the u.s. southwestern airlines advertised for 750 openings back in december. 10,000 people applied for them in just two hours and five minutes. >> we have seen the pictures of the freezing weather in the u.s. it is going to be quite a distorted report that we're going to get. >> there is a lot of noise around this report. if in doubt, blame the weather. freezing temperatures across the u.s. not only this month but back in november. what don't you do when you're cold? you don't go outside. you can't build as much. maybe you don't travel as much. two industries that be contributing jobs to the u.s. economy. a couple of analysts out there they we could see some underperformance in today's number, but even -- it is viewed as temporary. many expect jobs growth to accelerate back towards 200 k a month

manus might even wear it. tesco, morrison and marks & spencer all reported reduced holiday sales as consumers cut back on everything from food to clothing. >> for a roundup on this retail story, let's bring in caroline hyde. ouch. >> let's look at the grocers first. tesco, morrison's, morrison's was the worst in the whole of europe. falling the most in what five years? slashing more than 300 pounds of its market capitalization. the reason, profit warning. sales down more than five percent over the christmas trading period. off by 5.6%. similar story for tesco. sales disappointing, down 2.4%. blaming largely a weaker grocery let up in europe or asia either. it is worth noting tesco is still huge. one billion pounds taken in five days. that is more than 2000 pounds per second. tens of millions of customers. billion investing one in refreshing their stores. they are still not seeing the reforms from this. the new stars are starting to pay off -- new stores are starting to pay off. but still, disappointment for te

. >> i am manus cranny in london and this is on the move. we are streaming on your phone, your tablet and bloomberg.com full top ok. april graham a note for your diary. in the loopill join with betty liu. a conversation with my boss, michael bloomberg. those are the layers. -- layers. -- players. operating margins. this is the second time in nine months. they were weaker than expected in the equipment business. the margins are under pressure and remain around seven percent. the stock is down 13% now. that is up from 2415. that is where the stock traded. keep an eye on that. we have big corporate stories making news today. what is unilever and the other is sap. caroline hyde is following unilever and david tweed has the latest on sap. what is the take away? >> he is sounding upbeat. in sixe up the most months on the back of underlying growth and that is in the underlying markets. it is a tale of two worlds. andemerging markets are up the key driver is latin america and china for growth. the growth is easing and that was put forward to me by t

london men's fashion week, manus cranny, bloomberg, london. >> manus is here now. >> i went back and it's the packaging. it is the whole thing. .t does not take much >> look at that. >> it's all about the zip. it's all about the hardware. these are made in italy. they teamed up with liberty. it's very smart. >> you are sucker for liberty. >> when he mention hardware, i was thinking of a pc. >> it's all about the hassles. you know what? adjust caught my eye. >> what is it about fashion? if you are not a pop up store, you are nothing these days. >> let's connect. they've done facebook, twitter, the blog. it allows them to connect with customers. they are smart, sharp boys. >> we all know about gordon ramsay. some say he's got a pretty foul mouth. another chef has had enough. find out who after the break. ♪ >> welcome back. i am anna edwards. >> i'm mark barton. pickslook at today's top from the newspapers. hans nichols, take it away. cracks the mp makes waves. she will be participating in a celebrity diving contest and she her swimwear. >> i don't know if you should wear a bikini well

manus cranny is standing by with a quick preview. manus. we got the european perspective, the japan view, next up, u.s. investing. in.d just popped it is all about share buyback, dividends. join me in just under 30 minutes for the goldman's view on the usa. >> thank you very much indeed, looking forward to that. the ubs chief executive sergio ermotti is denying reports that switzerland's biggest bank will spin off its investment banking business. he spoke to bloomberg an exclusive interview and shanghai. >> ryan chilcote joins us with all of the details. we had a report saying they are thinking about spinning it off. now, the ceo has poured cold water all over this. >> let me give you the background. ever since sergio ermotti took the helm at ubs, he has been cutting back. is cutting 10,000 jobs, has closed many of the debt trading desks. banca came out with this report on thursday and said maybe they will get rid of investment banking altogether. we caught up with sergio ermotti and shanghai. he said that is not going to happen. >> there a

. >> manus, what else are we watching? >> stoxx 600 closed down for the first time in five days yesterday. you're going to get a little bit more indication of the state of the u.s. housing market. housing starts. consumer sentment will also come out. the u.k. forward guidance. in the u.k., there is a 60% possibility, probability that the m.p.c., monetary policy committee, mark carney, will shift their guidance at the next inflation report next month. that is a hefty percentage. anyway, we'll leave it there. equity markets are undecided at the moment. the big shock is what's happening with shell. we'll have a look through some of the other equity stories there. equities are just opening that little bit better this morning. don't forget the dax was at a record yesterday. closed down on the day. there is a structural shift in terms of what will happen in the u.k. in terms of guidance. there we go. royal dutch shell. there is an a and a b share in royal dutch stair. this is u.k. listing, down 4.4% on royal dutch shell. so that

manus, this is a changing music event. is this live spectacle still key? can be make him a break medical. break critical. when adele won her grammy on the album 21, it was a record that trumped the album charts. the week after the grammys, it went from selling 122,000 copies to selling 730,000. that is a 500% increase. >> it seems that particularly for acts that are fairly small still come on the rise perhaps, this can really add to their notoriety. people25, 28 million tune into the grammys. if you have the right product -- you can grip the nation if you can grip them for three hours -- >> you don't even have to show your face. it daft punk to the whole thing from behind masks. >> who is going to benefit the most in terms of box? -- bucks? >the running is open. lorde. >> nothing to do with that finish rock band years ago. i listened to lorde's music this morning. lovely. >> did he just say that the average age of the audience is 42 years old? >> yes. >> that strikes me as being remarkably old. i am just putting it out there. let's talk about the industry

manus. talk to you. >> lloyds raised -- it could be investec.r the liable, $200 billion and change. >> just briefly, ukraine. an update. the prime minister offered his resignation about 40 minutes ago as the parliament began an emergency section. he could remain the acting prime minister. somebody has to take the job. the opposition said they would not accept the post. you would expect instability and bond yields to go up. they are interpreting this as a concession to the opposition and yields are falling. >> jon, let's focus on the technology sector. the read from the apple numbers. >> apple projecting the first quarterly decline for revenue since 2003. the big supplies for likes of arm and dialogue falling. >> arm down by 2.6%. that is a wrapup of what you need to know in terms of the market moves this morning. "the pulse" is up next. don't miss guy's conversation with the former oorge tine bank governor. that will be taking place just after a very short break. stay with bloomberg. ♪. . . >> ukraine's prime minister resigns. he steps down in a

let's talk to manus cranny. >> three stocks." sachs saying that goldman and the chairmen were in talks to taking the company private today. that is not the case. that is a rumor according to the chairman. stocks down 6%. down 7%.trendy shoes, 's, the italian maker, 60% of their business is between italy and the rest of europe. j.p. morgan downgraded the stock. ubs says it is a sell. fashion does not pay, a miss. new stores online and in the u.s., can david beckham save h&m? >> thank you very much manus cranny. >> let's look at today's post number, 3.6 billion, the number of trips expected to be made in the 40 day travel rush surrounding the chinese new year. of the horse celebration involves million returning -- involves millions returning home to china, one of the largest movements of people anywhere on earth. does not just manage packages, it stores massive amounts of data. we take you inside one of the world's most secure business. accuses fox of censoring its sodastream ad for the super bowl. ♪ pulse,"me back to "the live fr

manus, thank you very much indeed. editor, manus cranny. >> the french president, francois hollande is under scrutiny today. he hopes to convince people that he can pull the economy out of decline, but what do we want to know about and what does france want to know about? >> about the alleged affair of course with a french actress. it has been dominating headlines across europe for the past few days. caroline hyde is there ahead of that news conference. i guess he is going to find it very hard to avoid talking about this. >> you're right. questions will of course be flung his direction as reports swirl about the alleged affair he has had with a 41-year-old actress that was in a seven-page report just on friday. today when he has to answer questions to the press, he walks into the hotel and of course it is going to be in front national and international press. it may be why we're seeing his first lady, valerie in hospital with exhaustion. but he has not made a denial. instead he said he deplores the intrusion into his p

manus cranny has more. tell us about the scope of the havee, the collection we seen. >> let me show you the front page of the guardian newspaper, which has a relationship with edward snowden. what they have done is talk about scale, the sheer quantum of text. texts a day being collated in terms of the data. it is almost like everything you can eat at mcdonald's. it is like a buffet of data on a global basis. how many times have you crossed the border? the contacts in your phone. financial transactions. the sheer scale of what the nsa is doing. what comes into play here, it is about obama trying to deliver transparency, trying to say, i have listened to the panel and taken on the views. week,led cameron last david cameron, the prime minister here in the united kingdom grade he also called angela merkel. again, for their opinion. he is trying to reach out and have i have listened, i heard, i am responding. it is up to congress, rather than be dealing with the eager issues of access, bulk, and collating data o

manu, starting with you, this really is the most we've seen in black and white from house republicans on this key issue, immigration reform, and how to deal with unauthorized immigrants. the question has to be asked, how real is this, though? >> that's right. the devil's in the details here. remember, richard, this is a one-page document on something that could take hundreds and hundreds of pages to implement. we have to see what the legislation actually looks like. there are going to be a lot of sticking points that they have not resolved. you mention one of the top dealing with what to do with the people here illegally. even after these folks are legalized, will they be able to apply for green cards and citizenship? that is not clear. there is a very, very tenuous coalition over labor on how to deal with guest workers that are brought here to the country. how do they structure that program, can they keep that coalition together? there are a lot of unanswered questions here and a one-page document is not going to be enough to get it through congress. we need meat on the bone. >> we'l

. >> manus cranny, our market editor, joins us now. u.k. and irish insurer.rish subsidiary needed over 200 million pounds in capital. what we're hearing today is that they have three proper wording -- three proper warnings by and them. it will not need any further capital. the company will not need a full rights issue. knowis good news if you about stock. biggest one-day gain in five years. deutsche lufthansa when it comes to airlines reduced its capital. down over one percent. you're making cost savings but their costs are rising. outweighing any benefit. you have transatlantic yields under pressure. spencer's.rks & they're doing well with the food offering over this mess but the general merchandise side of the business is a big negative you right there. we are going to see drop in terms of the numbers. we would get those on thursday. back to you. >> manus cranny, our markets editor. up, dave announced a new ceo. announced a new ceo. very shortke a break. we'll see you in a couple minutes time. ♪ >> welcome back to "the pulse." we are alive from bloomberg's

manus cranny at the goldman sachs conference.ys ubs will not spin off its investment bank. he says the current model is working. stephen engle spoke to him in shanghai. take a listen. >> it is a very small elephant and there is no speculation. the investment banking segment is very strategic to us. we have been making a lot of changes to our strategy. the strategy is working. we will focus on supporting our clients. assets andery fine capital that we want to put to work in the investment anchor and a business model that works. therefore, there is no necessity for estimate changes. >> is a spinoff one of the options you are considering? >> we are not considering that option. >> what would be next for you? are you happy with this pace of asset reductions right now? >> we are ahead of our targets that we announced two years ago. one year ago, we announced an acceleration of that strategy. i think that we are happy with the pace of what we are doing and there is no necessity for us to revise our targets. are there other potential ass

we have mnaus in a cody -- manus in a hoody.rable technology story is something we didn't -- we need to discuss as well. the business of fashion founder and editor joins us on that subject. there is a lot to get through. free withfully hands- his new samsung phone. >> he is practicing. all right, thank you so much. here are some companies on the move. samsung will release its galaxy s5 by april and it is considering using iris scanning technology for the first time. it will be paired with another wearable device that will be an update of the galaxy gear smart watch. samsung hopes the new handset will compete with apple's latest iphone. what is in a name? michael eric anderson legally won a marketing contest i left on the. he was chosen -- by lufthansa. audi is going mainstream. cheaper models in the u.s.. audi joins the likes of mercedes-benz and bmw as german brands pushing cars that cost last than their flagship cars. rolls-royce tops its sales record for the fourth straight year in 2013. let's get straight to ryan chilcote wh

i'm with manu, i'm guessing they don't. this has been a pretty incompetent parts on both sides of pennsylvania avenue. >> good to see both of you guys, thanks. >> thank you. >>> checking the news feed this morning, good-bye polar vortex, although wind chills are still below zero in several states, the arctic air is supposed to be gone in the next couple of days. today, however, western and central new york are still pretty miserable. residents there are getting nailed by another 125 12 to 15 inches of lake effect snow. >>> this record cold spell could cost the u.s. economy as much as $5 billion. americans have been staying home, unable to work, travel for vacation, or go out for a movie or meal. the lost revenue is so high because of the sheer number of people affected by the cold. >>> congresswoman gabrielle giffords never ceases to amaze us. to mark the day today, giffords will sky dive with navy s.e.a.l.s. of course, six people were killed in the shooting three years ago. 12 were hurt alongside the congresswoman. this af

manus cranny has been going over the numbers. they are doing well because of online offerings. >> this is a compelling christmas time. has taken thewho concept of going into the store, connecting with you, and converting it. this is the critical aspect behind the numbers. storese engaging and the , you come back to the website. when you go back to the website, that is the critical part of the strategy. it is double-digit growth in china. the market was looking for this. innovation, we talked about the beauty aspects and we will talk about it more later in the program. they have launched their beauty contribute 114 million pounds over 2014. think of it this way. if you can take a regent street- style store, compress it down, switch around and take a beauty product, that is what christopher bailey will take to guide through. it is all about beauty and aspirations. belting and the top of the ftse is touching levels that you have not seen since october. it is 53% of the normal day of business. >> thank you so much. and it at luxury s

manus cranny joins us to put this into context. taper etc.? -- fed, or is it political problems in countries like south africa and turkey? charged andt is sparked and driven by number one. we will get around to reconsidering the structural issues when the washout is complete. we know that there are countries under pressure. the turkish lira has less reserves. have a look at the three worst-performing currencies. currencies are fundamentally challenged. what you are seeing right now according to pimco, they're calling it a stampede. they say the moment investors are not differentiating, they are just going em, sell, sell sell, and they are not bothered by the quality of names. that is the same view at seen from credit suisse and ubs. we will see a continuation of that selling process according to credit suisse but we will come out the other side. we are not done with this move on the downside yet. discerning around to or discriminating more clearly. argentinians have gone for devaluation. the turks went for intervention. the rand sees lows with

manus cranny joins with us the latest.lly they are saying everything is fine as long as there is cheap money there. >> and as long as there is a nice smooth exit from quantitative easing and tapering goes in a lovely, lovely line. it has gone smoothly so far. all right? volatility. a little bit of an issue. look, to put this whole thing in context, we were going to grow at a basis almost at double what the world grew in 2012. put that into con test. easing austerity. -- context. these are things that are contributing. the richest nation also grow. they are going to provide, you know, a real boost for that growth. that is the critical issue so long as tapering goes smooth accomplishment >> this is basically what is amazing when you look at the breakdown, europe is doing well. they are kind of like leading the pack but that is why they uped their forecast. >> when you look at the numbers. europe up 1.1%. frup just under 1%. it is the essence of what they spafmente germany will propel that recovery. spain and italy will do be

we will get back to the conference now. >> manus cranny at the conference.to you. >> thank you for that. go to my twitter account because we have the japan version, the european version. now is the chief economist for the u.s. great to have you with us. let's talk about the u.s. the sequester has passed, the tax cuts are gone. strength of the u.s. economy -- what is your view? >> we think things are getting better and when the 14. 2014.- the deliberating process has moved very far. the housing market is slowly improving. the business sector is in good shape. headline growth was being held back by large amount of fiscal drag. that is not going to be true in 2014. are going to be above 3% this year. >> we are now in taper mode. fed has promised to lower rates for a very long time. what can unsettle that? that is not a bad situation. >> it is a good situation. when i look at all the forecasts, pretty good growth, still low inflation, still benign monetary policy -- no 2014,e from the end of but a low funds rate through 2015 and then all of the increases of star

first, let's check in with manus cranny in london and our markets team as the european trading day begins. >> it is something that we touched on quite a lot. emerging markets are on the move . we have our european business correspondent, caroline hyde, jonathan ferro, and david tweed is also standing by. futures getting a small bounce here. what is your focus? >> i think it has to be emerging markets. you have to say the selloff yesterday did not discriminate. it hit european equities as well. fedt of people talking tapering in the end, but you have got to talk china as well. a china slowdown is the big concern for investors i have been speaking to. flavor withtech microsoft. how did that play out for the european context? >> you look at some of the suppliers, sap might be getting a bit of an uplift. microsoft made per day more than a quarter of a billion dollars in the last quarter. finally, their tactics are working out. they are selling hardware. this is a software giant, killing it in terms of xbox one over the holiday season. a move to the cloud, sales doubled there. they also double

lex manus cranny with the latest on the markets. our next guest favors developed market equities in the u.s. and japan. for more, let's welcome the head of the london investment office at julian's. i want to get your take on the emerging markets. we had an interview with the indian central bank governor and he says there is a danger of central bank down -- central breakdown. >> there is a danger of some breakdown. what you have seen in the last two weeks has been quite a while in the making. bit of a catalyst to get investors to focus on the issues. a central banker points at something structural tells you that this is not something that is going to go away in another week or two. >> just a month ago, when you and asked what is your main concern, they said emerging markets, it is going to be bumpy, but it will go ahead. are there investment opportunities in some countries? >> one has to be careful. you look at vulnerabilities and avoid those. >> good countries and currencies. >> the ones with weaker currencies tend to have the worst

manus cranny with the latest on what we can expect from the fed.ht of today's policy decisions, let's focus on recent movement in the currency market. josing us from barclays is e. thank you so much for joining us. how much are you looking at the fed for an indication of what currency markets are going to do? how much are you looking at emerging markets? turkey is center stage. >> that is correct. is how they are not related to the dollar. fedmarkets have seen the throw in the towel for a little while. unemployment is dropping faster than we believe a few months ago. the main driver for the dollar going forward is whether you do have inflation picking up or not. core inflation continues to recover. but at a very gradual and moderate pace. if this continues, the market may believe that in fact all tweendea and relationship inflation and the labor market is not strong will go away. then the market will begin to pay rates in the u.s.. this would be the beginning of the dollar rising. for now they are going to talk about labor markets. this also will f

manus cranny has that story. junior cannotey instill confidence in this company.ine straight quarters of decline from htc. they used to be the dominant player in 2011 and they were the biggest seller, at one quarter of the entire market. they are trying to get a new marketing campaign. i think one of them was a hipster troll carwash. loss in a four-year earnings. something a little more stylish. #menswear. that is going on in london. designers are getting involved in the business. dolce hink of anna -- gabbana kicked off business. what does the collection mean for british industry? we will have that in a short while. it is so unique, in terms of technology and fashion. cranny.ver-dapper manus >> according to research and reports, which we have exclusive and early access to. we will talk about with the trans-we spent on and -- eye onre keeping thaan the massive store in the u.s.. the sheik -- u.s. we will have more throughout the day. ♪ >> it is time for company news. they missed analyst estimates for the fourth consecutive quarter. net income was $10 million. it w

manus, thank you so much.us cranny with the latest on the markets. >> as we head to break, it is time for today's "the pulse" number. $58.7 million, that is how much kate moss, who turned 40 today, made last year. see why she is still a super model and on top of her game when we come back. ♪ . >> welcome back to "the poles." i am francine lacqua. european car sales surged, the biggest monthly gain in almost four years. from lagarde the imf has urged policy makers to fight deflation that may hurt what she called a feeble global recovery. deflation must be fought decisively. >> the ecb is set to toughen the requirements for they cap up. the central bank has recommended a six percent buffer. manas has more details on the stress test. the ecb is lifting it. >> you had that conversation with him. you need to raise the benchmark. what is an a grade to get from school to university? it is higher than the american. when thent would be americans did there stress testing they had slightly keener balance sheet. they had

. >> for a recap on the market movers, let's check back in with manus cranny. this year, i want to join the olympics. talk to me about the markets. >> you're not letting me. it has turned around a little bit. there are a few comments on the european central bank as things are better. the recovery in the euro area and the average growth may not exceed two percent. you have the european union and i still go back to what i said in asia. keep an eye on the dollar and the emerging markets. they cannot go from one day to the next day. valuations do matter. >> thank you matter. -- they do matter. manus cranny. stay with bloomberg tv. guy johnson and i are back next. you can follow us on winter. i will see you in just a couple of minutes. . . >> facing the cameras. francois hollande's alleged affair and not the french economy looks to dominate his press conference in paris today. will ask the former italian prime minister about everything from europe's economy to extremist clinical parties. -- political parties. >> and google pays $3 billion for a digital thermostat ma

manus cranny is trading by. >> the biggest selloff over the in seven months. cost of protecting yourself is falling today. and the turks had a special meeting this evening in terms of defending their currency. we are seeing a bounce in the emerging market currencies. here is the euro against the turkish lira. what will the turks do? what will the fed do? will he go for another $10 billion in perpetuity over the next six meetings? this is an upward movement for the lira. in terms of our growth level in the united kingdom, cable likes it. of eight out of the states today. confidence numbers, futures trading higher. you are going to get durable goods, consumer confidence. there is a traitor out there that is betting $18 million that volatility has topped out. back to you. >> thank you very much indeed. towards thatr way u.k. gdp number out in a few minutes time. housing -- tothe the recovery so far has been the housing market. chiefxt guest is the economist at the royal institution of chartered surveyors. give me the broad-based picture that you guys are seeing.

manus, thank you. >> let's talk about those central banks. turkey is center stage.y, late-night meeting. an incredibly volatile lira. they assess what is next. >> they hiked rates aggressively. the biggest hike in the last five years. a massive turnaround. check out the charts on dollar- lira. they can only buy a nine hour reprieve for the turkish lira. what the daily -- do they do next? if these moves hold and the turkish lira continues to weaken -- you have got to say, what can they do next? politically, it would be very hard. >> a country with a huge current account deficit. south africa, the next in the firing line. a meeting later on today. >> we look at the dollar against the south african rand. expectf people do not the south african central bank to move today. the pressure is building on them to do something. the rand continues to weaken. within turkey itself, the political crisis continues. corruption of continue in that country. they are losing credibility within the country from investors outside. >> thank you so much for that. the very latest on the cent

manus cranny joins us. put it into context for us.e have been knowing about quantitative easing arraignment ning in.ig it seems to be ramping up and people are worried. >> it is like a cocktail. you do not see the kick until of late in the draw in terms -- ok? it kind of hits you. that is what is going on in foreign exchange. that is where the move is coming from or the most the monster fit example of -- the monstrous -- demonstrative example of, the terms of the news with had so far, it is a stampede at the moment. let's look at the stampede. the top three worst performing stock in the argentinian peso and the turkish lira and the rand. the three worst-performing currencies since the start of the year. it is a stampede. invested in not differentiate between the quality. that was pimco. ubs and heime with said we are going to be, more discerning and we have these and there's a continuation of the move. then, we are going to get it was systemic and important. the risk currency is something like the south african rand and not like the p

i am manus cranny in london. this is a stock that is more than moving.thing that you want for young kids, 31%. the problem is with this retailer, u.k. retail sales are own in the u.k. full-year profit will be below target. j.p. morgan cuts the stock to neutral and slashes the price ofget down 26% to a level 335 pence. let's check in with the team. a few other interesting moves. sainsbury's started the day on the up. >> now the stock is down. we have the chief financial officer on the conference call saying, our sales aren't going to be quite where we anticipated for the full year. we are expecting sales to be 1% to 1.5% higher. he is showing -- saying they will be just shy of 1%. that mother care news shows the diversity we are getting on the high street. people are not coming in and buying. -- nine yearsns of sales on the up. >> let's talk about these markets. they are giving back a little value but i am noticing some of themopping up again. , youming back a little bit see the ftse down by 0.3%. we are a vent heavy this week. we have the ecb, the bank o

what a beautiful day in davos. ♪ >> i am manus cranny in london.s is "on the move" on bloomberg television, radio, strumming on your phone, tablet and bloomberg.com. two companies for you, the top and bottom of the stoxx 600. logitech, these guys make everything that goes into your tablet, keyboards, covers. they make mice. speakers, music, that gives you a flavor. up $2.1 billion. third quarter beat. logitech up 11%. that is the biggest rise since april 2012. from mice to education and the owner of the fp. pearson delivers numbers this morning. looks like they have got headwinds in the education business in the united states of america. online subscriptions doing quite nicely in terms of the fp. that stock down 5.5%. those are the top and the bottom of the stoxx 600. we are going to take a little bit of a break now. make sure you stay tuned. we have the intesa sanpaolo ceo joining francine. it is a busy 30 minutes, one that you don't want to miss. live from davos, francine lacqua will be with you with those two guests. stay with me. we will talk a

manus cranny on the markets. before break, today's pulse number. 30.jong-un as of today. that makes him the youngest head of state in the world. three years younger than the next in line, the youthful ruler of bhutan, 33 years old. dennis rodman and a team of ex nba players will take part in a basketball game in the country. paddy power was the sponsor of this before it got cold feet. was this campaign a failure or was it a success? talking about that story from a business perspective when we come back. ♪ >> welcome that, you're watching "the pulse." company news. yahoo!'s marissa mayer has unveiled her plan to revive sales. she is revamping advertising services, mobile products, and digital magazines for technology and food news. alibaba will ban the sale of after china's central bank tightened regulations in december. the company says this will help protect users. retailers including gap urging talks to end clashes in cambodia over worker pay. three people were killed during a recent strike. anna. >> former nba basketball star dennis rodman will play

this happens against em. >> manus cranny with the latest.ica's richer under attack. us.poke to i intend to give my money away. many years ago a taxi driver told me we were talking about different billionaires at the peoplet would comment on . when we passed somebody's casino, he said 70 should tell that guy there are no luggage racks. that was 30 years ago. i got what he said. no luggage racks on a hearse, you cannot take it with you. i live by what i have. i want to give away. the rich are being demonized in the u.s. do you share the views that the rich are a minority under attack? >> i do. coming from new york city. the blodget was all about it. he wants to tax them an exorbitant rate. i find people who worked hard on their own with their own , to hundred thousand dollars is not an exorbitant amount of money to be taxed. the rich are the ones created the jobs. percent that haveibute in new york taken an initiative and gone out and prospered and hired employees. a lot of those people don't bother to go to college because they are so wise th

let's talk to manus cranny who will walk us through what we need to know about what is happening withkets today and the companies. a debate onnited twitter. this is crossgenerational. one direction. managing to sell bonds below five percent? what is going on? they are crashing. that will have the overall bank asset quality review meetings. curtain raiser, investors, 50 nine percent or so positive. we have not seen that kind of numbers since 2009. u.s. will take the mantle, equities will be the driver, and of course, it is going to be bonds that will deliver the worst returns. those are the key take away from the davos poll we took last week. one can always go for a bit of shock and awe. target midterms round out at about 110. have a look at gold. the lunar new year in china. they're not buying cognac. they may pause for breath in terms of purchases of gold. that whole demand side of the story that was driving the gold we had, perhaps, having off the boil. index has a little disappointed germany, coming off its highs. most of the retracted move was done through europe. we sell the euro

manus, anything outrageous?the dickensian market in the u.s., a big call on currencies, but a surprise is a one in three opportunity. it off, dickensian, i thought that was only christmas. but you have the best and the worst time of your life. the worst times first. take the pain up front, i say. it is going to be at your politics. 10%correction of more than is on the way. then it is off to the races and up 20% on the s&p 500 when it comes to the u.s. economy. growth is above three percent. unemployment below six percent. what is the dollar go? and 120ainst the euro against the yen. it is what he said about shinzo abe that i like the most. there are 10 of the surprises. these are the three that i picked off. he's the only leader who understands debt. deficits don't matter. they really don't matter, do they? then there is a small tax hike coming through and then a 20% correction which is different than the story you covered this morning in terms of what happens with japan. >> these are the highlights. what nearly

manus, let's start things with you. you are watching reaction to the fed. basically -- this is a very self-centered fomc announcement. no bowing of the head to what is going on in markets. i will leave you with a statistic. 55% of global demand is derived from emerging markets. fed the fed -- while the cannot off their cap at the moment, it is proverbial in terms of real demand in about eight months time. it is a fairly moot point. -- $10 billion a month, that is the road. the hurdle to stopping that is pretty high. >> they set policies for their own country, sometimes ignoring the rest of the world. what has been the reaction in emerging markets? >> not as volatile as yesterday but chinese manufacturing numbers, price contraction more than expected. it is not going to actually help sentiment this morning. when it is good, no one believes. when it is bad, people really believe. we will have to see whether there is a read across into commodities. we also have gdp from spain pretty much as expected. gaining 0.3% in the fourth quarter. staying on corporate new

llegÓ al manchester united, ademÁs, reconociÓ que una de las razones que lo empujaron a firmar con el manu, no te pierdas el primer partido del tri este aÑo en preparaciÓn cuando enfrente la repÚblica de corea, te esperamos este miÉrcoles 29. es todo de mi parte, pero recuerden que toda la cobertura del super bowl, y tambiÉn del partido de mÉxico, estarÁ por acÁ, en "primer impacto", de regreso a los estudios. >> ojalÁ que la naturaleza colabore con el super tazÓn, por eso, vamos a hablar con jackie. >> comienza la semana y hay que enfrontarla con entusiasmo, o no? >> sÍ, el lunes es de cooperaciÓn, asÍ que nosotros a cooperar con a madre naturaleza ya que ella no va a cooperar en absoluto con nosotros. maÑana nos esperan temperaturas bajo cero, porque asÍ comienza la acciÓn el dÍa de hoy, no es acciÓn deportiva, es acción en cuanto al tiempo se refiere, desde colorado hasta el este. tenemos precipitaciones en el sureste, actividad de nieve en el noreste, hay muchÍsimos factores, tenemos masa de aire polar que va a visitar hasta el sureste, el mismo tiempo actividad desde el golfo de mÉxic

manus cranny is at the touchscreen with more. quarters of one percent gain over the space of the week. let higher by banks, insurers, telecom, basic resources that have been a laggard on the european map today. we wait for those number to come in from the unemployment in the u.s. with that in mind, let's check in on the u.s. futures. 197,000, you have the numbers from johnny. we will talk about it before the end of this show. u.s. futures indicated up by 0.2%. china, china importing more. that is good news for everybody. the bad -- that is the message that is coming through on the job state. with that in mind, let's check in. we are getting back to normal. as far as the weather is concerned. let's have tom keene. still uti, still -- wti trading higher. , has tom in of that running the heating oil? >> venice, thank you so much. in just 20 minutes, surveillance with tom keene. he joins us from new york with a preview. >> we are looking at 31 degrees in new york. let me come over here and click that centigrade. negative one centigra

manus cranny has been digging into bernanke's policy decision.nd also looking at nintendo in desperate need of a power up. we will look at what the company is doing to boost its profits. anothernovo with purchase. hans nichols is in berlin. big on the super bowl with the new ad campaign. and caroline hyde on facebook shares. >> let's tell you what is coming up on bloomberg this morning. .e have some big interviews we have andrew griffin that will join "countdown" after the earnings break. we will also get results from menezes.'s ivan >> china manufacturing shares -- david with us from hong kong. good morning. >> good morning. it is a confluence of factors really. asia welcome to big declines on wall street. it is all of the uncertainty out there. you have a lot of these unexpected moves. you have new zealand that was not expected to move. of course, it is all against the backdrop of the fed. at this point, we are certainly below the day that says a lot. -- there is aut lot of risk aversion. a lot of reasons to reduce those decisions. last 30weake

perspired its final vote on whether to take part in this month's geneva two peace talks middle east expert manu oxon writer i spoke to him earlier he believes the opposition doesn't represent the syrian people's interests. but the term syrian opposition is as strong as it could be this these groups are neither syrian nor opposition so they don't have in their interest the good the benefit of the people or of the country these groups are very very often influenced by the west by turkey by the go if states we have to imagine or to see those groups more like militant gangs like a sort of mafia those groups who claim about themselves that they re present the moderate opposition of the moderate moderate rebels don't have any influence on the better we know in the meanwhile that the fights on the ground. by slamming extremists. use in brief in bangladesh police used tear gas and water cannon to disperse angry crowds of student protesters who've been staging the ranee it followed one of the most violent national elections in the country's history the crowds called for a general strike against prime mi

manus cranny is here with the details. 6% seems to be the magic number. >> it is. this is with the european central banks that do risk assessments and look at asset qualities on the balance sheets and go for a stress tests. economyscenario, the tumbles am going to turmoil again. capital within like to see them hold? we understand it will be 6%. that is up from the botched stress tests of 2011. deliver thisto transparency which would repair and build the confidence in the scenario. i think druggie -- draghi reiterated it on a number of occasions. >> yes. >> banks need to fail and if abouto not -- it is all credibility. >> the ecb being tougher on banks than what they thought. manageable, but it is less ambitious. 2011.tougher than it is more than the usa. the u.s. banks have cleaned up their balance sheets. they have made the provisions and realize that. >> and different methodologies region in the u.s. and the ecb. >> there may well be. within europe thomas what is bad that? in sweden? nash within europe, what is that -- bad debt? in sweden? >> there is so much int

manus cranny is here to move us through the highlights. he gives surprises and probabilities. we are going to have the best and worst times. the worst will come first -- and of dio politics geopolitics. the s&p is going to correct, but don't worry. is going to go right up, 20% higher. it comes to the currencies, dollar is going to strengthen. have growthg to above three percent. dollar, one dollar 25. he is the only leader who understands dick cheney. deficits don't matter. the new day will spike. -- the nikkei will spike. top three.he >> what else is on the list? luster of lack the gold that was the o -- it hasn't happened in 1970. was --hest occurrence is muslim to two percent. corrections less than 20%. it happened four times since 1970. quirks does that mean a bigger correction monsieur? we had this cheap liquidity of their. there. quirks you could say that this time is different. the range of outcomes for next year, what happened in previous years. haveng at mortgage but been up 25%. in the following year, outcomes have been worried. -- wide. there is no signs to see ther

zeb eckert is covering the launch of the iphone in china and manus cranny looking forward to president obama's nsa announcement. ferro with more on pc sales. ryan chilcote is lacing up his hightops. he has the story on the nba push them to london. if only "countdown," causing a stir coming to the u.k. today. an inside look at "the wolf of wall street" with film expert simon thompson on "in the know." after six years of negotiations for apple, let's go to zeb eckert in hong kong. chief executive tim cook is in beijing for the launch. how important is this market for apple? >> good morning to you, mark. it's especially important for apple. this is the largest mobile market in the market up until now that they could not fully access. theas not available on dominant carrier, china global -- china mobile. they now have access to the smartphone. he along with the china mobile chair handed out funds to several customers. we understand there were several dozen people at the launch. certainly, tim cook said this is an important market and just the beginning of china mobile and coming together t

. >> had there been serious preparation of the manu scripted, we would have waited. there was none. >> on the 49th day of the siege, attorney general janet reno approves the bureau's plan for a tactical solution. the insertion of tear gas into the compound. >> i approve the plan, and i'm responsible for it. i advised the president, but i did not advise him as to the details. >> it's one more major turning point, though reason wroe leaves it to the fbi to decide when to take action. >> we went 27 days with nobody being released. david koresh became more violent in his rhetoric. >> he has made such statements as we are ready for war, let's get it on. >> finally, on about the 18th of april, the decision was made that we've had enough delays, we've had enough disingenuous lies coming from these individuals. it was time to exercise a tactical resolution. >> on day 51 of the siege at waco, the fbi initiates its tactical plan to end the standoff. >> david, individuals inside the branch davidian compound, we are in the process of placing tear gas into the building. >> i lear

with manus the american butter institute. thank you for coming on the show. of people find this surprising because they think that margarine is so popular. what happened? >> well, i think that you are seeing a shift of moving away from processed foods to more simple foods, which butter is. margarine is complicated. gerri: it certainly is. there's information about how it may not be good for you. what do people say about that? >> what we are doing is in moderation, butter can be part of a healthy diet and we are also -- consumers are more knowledgeable with a group of consumers that are part of the network. but again in moderation what we are telling consumers as well. gerri: i'm hoping that this is true but i bet it's not. i'm hoping there's a health benefit eating butter. because i don't eat margarine. so are there benefits? >> well, you have the trans fat and saturated fat and consumers know that butter can be part of a very healthy diet. and i think that we think it was moving away from foods that are better for men and the administration is also looking t

. >> great, manus. thank you so much.you're looking at another big london event. >> right, from fashion to boating. pullingish boat industry has surged back into profit following hard times during the financial crisis. ryan chilcott now reports. >> the london boat show is ushering in the new year with a swagger. it is not just a first coach of the year, it is the first one in britain since the economy tanked , where people appear ready to drop some serious cash. >> there's a definite increase in terms of the orders put in. >> williams ought to know. they do best when they boat makers too well. going for as much as $80,000, they are the ferrari of the dinghy worlds, also known by the highbrow as tenors. the big boys are the main attraction, but there is a lot for me to get my head around. britain's boat industry is worth more than four and half billion dollars. it was by eight percent last year compared with a contraction of the same magnitude the year before. aren't the heady days before the crisis, but they don't look to

manus cranny joins us now with more. >> this 6%, let's be clear about it. 6% of assets in the event ofhe stress test. erse economic scenario. that is what the ecb may ask bsanksanks to have. currently, the request that banks live with 8%. this'll be tougher than the level set in 2011. we are in this zone. it is called the comprehensive assessment zone. we have a risk assessment going on. we will test the asset quality on the balance sheet. then the stress test. three components that will come through. it is all about mario draghi's sentiment. banks need to fail to give credibility. you spoke to him on this very issue. indeed it is, if they have to fail, they have to fail. it is about credibility. >> what are analysts saying? >> bankers say it is manageable. it is less ambitious than anticipated. but when you look at what this scenario by the ecb versus the u.s., their most recent stress tests, they had a minimum requirement of 5%. but you know what i would say to that? the u.s. banking system is tremendously further along in terms of rehabilitation than their european counterparts. tha

manus cranny is here to talk us through the numbers. is it too early to call a turnaround at lvmh? >> i think it probably is. what is heartening is, last april we shattered because fashion and leather, the beast of the we vuitton slowed down. they have turned it around a little bit. leather rise. and for growth.k if you want to look at the we vuitton in the big picture of luxury, they have grown at twice the rate of the market. it is not something that is on the floor. fashion and leather are important. turning from canvas to leather. they are moving to less stores, taking the entire experience among brand and product up the value chain so that you get that idea of exclusivity. perkins and cosmetics saw a double-digit rise. cosmetics saw a double-digit rise. performance.od certainly a beginning of a reconstruction in lvmh. >> what about china? that is going to be key to the global brands. >> it is. and are you doing in china what is going on in china itself? .e know the story, a new regime these is a hard luxury are under pressure. the democratics are -- demographics are fascinatin

louisiana, bill cassidy has been pushed to the right by tea party favorite, rob manus.fore, there are plenty of times where incumbents are facing the tea party challengers. it includes pat roberts of kansas, lamar alexander in tennessee, lindsey graham in south carolina, and john cornyn in texas. but the senators and their allies don't intend to take the challenges lightly, and as evidenced by this super-pac ad that blasts steve stockman. >> lies. shady deals. ethical failings. it's everything that's wrong with washington, and it's congressman steve stockman's troubling record. >> joining me now is brian walsh, former spokesman of the national republican senatorial committee. brian, sal, how are you doing? sal, i'll start with you. i think you might contend that my setup there buys into the premise that says the tea party has been a problem for republicans regaining the senate. why is that -- why do you not believe that's the case? >> well, i think you just look at the facts, you know, starting with 2010. people like you and your fellow pundits said democrats will gain

contract manager says that it's safe but engineers say that the long run the bridge and many more manusended. >> : will have details on what this could mean for commuters. >> : see that this fire tonight it happened at 6 this morning by fire fell 6 to 10 ft. on the fire near stevenson street. the fire is now under control other injuries have been reported to >> : the flesh still gripping the bay area tonight bay area health officials reported 28 flew related deaths. and the nine bay area counties. tunney's with the highest numbers. santa clara 6 vest said it snow mutt and san mateo with for flu related deaths to >> : four related as putting people on edge including and people you see blurt berkeley blend up to get their food shop. hundreds of vaccines have been given out in just a few hours to >> : susan penalty uc-berkeley aren't taking chances full upright in the area of the concentration now risk with age 1 and 1 q >> : disproportionately affect young and middle-aged group. it does not mean the risk is manageable it to the young and the old it just means that people who might be able