manus: [inaudible] mark: more breaking news. manus: we have asked her zeneca. missed on their numbers and they are doing a deal. earnings per share at $.76. the estimate was 85. they missed on headline numbers but he has announced a deal. it is from activists, they are buying, this is astrazeneca buying from activists for $600 million. they are also saying that their guidance for this year will be low single-digit earnings per share growth. and m&a was the feature last year. astrazeneca batting away at pfizer and pfizer wants to do that inverted deal with a saw tax advantage taking over astrazeneca. that fell apart. let's try and do this on our own. 250 billion dollars of m&a deals were done in 2014. it was the sector it was the industry that really drove the m&a field and breakups. also their fourth quarter sales that missed ever so slightly. 6.6 8 billion underneath the sp -- estimate. their guidance is low single digits very at anna: we are getting numbers from daimler. a lot of focus going into these numbers on how it beat the company would be about the fut

manus: i am manus cranny.so coming up another bloomberg exclusive despite recent difficulties, the market for luxury goods is still growing. >> all the markets are not going in the same direction at the same time. but we're in a normal situation. at the end of the day, the luxury market as a whole is structurally growing. anna: greece could try to buy time on its loan agreement. the investigation may request a six-month extension. manus: the anti-austerity government suggests that they will ask for an extension on monday. there could be new strings attached. mark: osborne is said to have riled his european counterpart in brussels. people say he questioned the finance ministers on whether the impact of greece running out of money had been fully considered. anna: let's get straight to brussels. hans nichols has been following this story all week. what is the likelihood of a request for an extension. if it comes through, what is the likelihood of asking? hans: it depends if the request is just about the loan agre

manus: illegal.course it is a health risk and that's why this committee was put together and they recommend that the tournament be short and and held in november and december two and sure footballers didn't play in temperatures which you say or equal to 50 degrees celsius which is 122 degrees there in height. of course the europe top soccer league is up in arms because what happens in november and december a key portion of the european football season. christmas and new year deal sponsored by sky or whoever european football than with so many permutations but europe is up in arms and the u.k. is up in arms and they want conversation. i have the check my average temperatures. >> it didn't go down well and most of the players and the world cup actually originate from europe or play in europe. anna: we will take a break here on the program, join the conversation on twitter. ♪ mark: janet yellen paves the way for the federal reserve to raise interest rates. manus: a deal for greece. they approve of greek

anna: manus, thank you.arkets will remain open tomorrow when the indian finance minister presents the 2015-16 budget for parliament. it is the first full year budget from narendra modi's government. speculations that his policies will boost growth have driven the benchmark up nearly 20% since he took office. the u.s. federal communications commission has voted in favor of new rules for what is called the neutrality. the u.s. regulator approved the measures that prohibits companies from blocking or slowing online traffic or offering faster service in return for payment. it also brings wireless internet under the rules. one grexit barometer puts the chances of britain leaving the eu at 17%. a research group created the gauge based on the potential makeup of the next u.k. government and the likelihood of a referendum. « is a -- the bank of england is pushing for transparency after being dragged into manipulation scandals. the central bank announced that it will strengthen policies on how market information is h

manus: the story has yet to run.hat you get to take away from this is he said dividends where the critical issue and they deliver that today, they delivered a payout of 50% of their profits, but with a action, would it invoke an immediate change in action? sergio: the strategy won't change. we had concrete plans that we announced and we are executing those plans. the latest developments may put pressure to speed up the execution of those plans. manus: what you have to stay -- say here, this is one of the best in class dividend return players. let's see what happens later on in the week. so dividends he has delivered areas and that compensation get slightly as well. jonathan: the other big question is, how did they perform on the day the swiss national bank took that cap away? what is with his actions? as we look forward to us was actions, it is the number one question, isn't it? manus: it is paramount. it is still very early. i was very clear and expressed this question. did you make money on the day when they took a

manus: let's bring you some auto numbers.erated last month and it is the 17th straight month of gains. you saw over one million sold. renault sold 10% more cars in europe. registration jumped for their namesake. and volkswagen. all -- if you look at some of those failed out countries ireland portugal, cyprus putting in some strong games -- gains. manus: general motors were the only sellers in the top 10 to post groupwide declines. g.m. dropped -- the chevrolet brand in europe. those are the car numbers. stay tuned. we will have more discussion on all of those and have u.k. inflation data at 9:30 a.m. london time. some pretty important stuff on the day. they -- the meeting in brussels broke up with greece calling conditions for more money "absurd". >> europe will do the usual trick. it will pull a good agreement or an honorable agreement out of what seems to be an impasse. we did it last wednesday and we will do it again now. mark: a new deal would need to be approved before greece's current bailout expires. >> let's go now to

manus, the numbers.nner headline one billion swiss francs of net profit in the last quarter. the dividend up 100%. delivery on the promises. this is the bank sergio ermotti has turned around. he says i will pay 50% of earnings when my profits are good. the investment bank bolstered the numbers in the fourth quarter. return on equity of over 20%. why is the stock down? because they margins they are making on the business are not up to tick. not only that they are not having done as a benchmark anymore. they are not trying to target making 105 basis points and they are not going to target making over 1% under clients' money. it is a key performance indicator. also the fact that there is a slowdown in the intake of money. just over 3 billion swiss francs . when it comes to the issue again, the start of 2015. what i wanted from sergio ermotti was a size, how big is this affects business. that the doj is distressing to investigate a little bit more. mr. ermotti: it is not a multibillion-dollar business. at le

manu lecomte comes out. the first three points of the game for manu. that was newton hustling over. >> mike: he was running away from the basketball that time. you have to come strong to the ball. rick pitino wants everybody on the same page. >> tom: the cardinals with the six point lead, the road in the acc gets no easier for louisville. virginia with the great win on the road, first since 1981 at north carolina last night. >> mike: virginia bouncing back suffering duke with a great win on the road and bounce back and come back on the road and get it back. shows a lot about that team. >> tom: chris jones did commit the foul but he has 14 points tonight including a three-pointer in the first half. in fact louisville made one three in the second half that by terry rozier but he has 22 points and leads all scorers. jekiri guards the inbounds. looks like mcclellan may have gotten a piece of jones. so barring a minor miracle for jim larranaga and the 'canes, they will have lost three in a row this is what lies ahead home game against clemson, and then on t

manus cranny has been speaking to the bank's chief executive officer, brady dougan.r what he had to say. >>> we have a strong operating result in the fourth quarter. the business continues to perform consistently, which is good. on capital generation, we had a target 10%. we met 10.2%. when you look at it, you look at the capital generation capability, it is quite strong. we went from 9.3% in may to 10.2%. that is almost a full point in just seven months. there's a lot of capital generation capability in the business. we felt a cash dividend consistent with last year -- we are offering the option. >> do you think a lot of institutions will take the dividend? you've set new leverage targets. a good year for deleveraging or a tough one? >> a lot of our institutions do like today the script alternative. it helps to build a little capital as well. we do have a lot of institutions that like that option. we actually reduce over 50 billion of balance sheet in the fourth quarter. very good progress on continued deleveraging. as you mentioned, set new targets for the end of t

why are we here manu? >> congress and the time honored tradition of punting but it started by the president's decision in november to defer deportations from five million undocumented immigrants as well as provide them with work permits. this came top of his 2012 action that deferred deportations on folks who came to the country illegally, the young age, of course republicans are furious at this action. they wanted to push back. they wanted to show the president they were not standing for this, what they view is as overreach of executive power. so in november, when they had a chance to move the -- they had to fund the government, there was debate about how to push back. republicans, in order to alleviate the right wing, they cut a deal with the democrats and said ok, we'll fund the entire government but we're not going to fund the department of homeland security for the entire year. we're going to let that expire at the end of february. that way, when we control the senate and have larger numbers in the ho

manus cranny joins us.tors seem to like it. >> this is where the banks were facing a sort of damocles. it was a wake-up call and we had a conversation this morning with asset management's. the stock is rallying and the market likes what it sees. the costs were coming. there is a sense of swiss banking. has the central bank done damage? >> i do not think i can say. i can say that it started in a different market and short-term increased the stress level for many of the market participants. in time, the market overreacted and we will see it was the right thing to do. >> of course, everybody will see where in the next couple of months. there will be -- >> a big plunge of with the back of the decision. >> the markets have tested the appetite for the range. the swiss bank has an unofficial bandwidth and a soft floor. 105-110. intervening in the market and having a tolerance level off of the bandwidth. they feel like the market overreacted. >> it is massively overvalued and i think it is going to be more natural.

manus cranny will bring us that interview live and in full at 6:25. you can find more on that story at bloomberg.com. barack obama is taking a tough line on russia. the president's considering all options as violence escalates, including giving lethal weapons. >> it is true that if diplomacy fails, what i have asked my team to do is to look at all options. what other means can we put in place to change mr. putin's calculus? the possibility of lethal defensive weapons is one of the options being examined. i have not made a decision about that yet. >> angela merkel visited washington yesterday. the german chancellor staunchly opposes sending weapons to ukraine but says europe's differences with the u.s. over lethal aid will not shake the alliance. the eu has delayed a fresh round of sanctions against russia ahead of talks for tomorrow. hans nichols has been following that story. good morning. >> what we see is a president who is very publicly weighing his options. there is not any doubt about angela merkel's position, and she does not see a military sol

where was manus cranny in may 2000? >> we will bring you the answer to that question a little bit later. pressure is mounting -- our top story is greece. its european creditors need to strike a deal before the money runs out. the administration will submit a request for a six-month loan extension today, according to a government officials. the 240 billion euro bailout expires at the end of february. this week marks a crucial point ahead of that deadline. >> we are at a critical and sensitive point in negotiation. we are submitting proposals and we hope we will turn this corner which will give us the possibility of moving forward. >> meanwhile, the ecb is upping the amounts available to greece but only by a small amount sending a signal that a political deal should be reached to halt capital outflows. >> let's get to hans nichols in berlin. hans, today is one of those defining moments. they have got to pull the trigger. what they want. >> if they submit a straightforward it could get approved by conference call. the prob

fax i am manus cranny -- >> i am manus cranny. >> we will be looking at the non-farm payrolls coming angela merkel and francois hollande heading to moscow. it comes after they met with the ukrainian president. u.s. and russian officials skeptical a resolution is possible as more troops and firepower from both sides poor interview -- pour into the conflict. ryan chilcote is on the ground in moscow. good morning. what is on merkel and francois hollande's agenda? >> germany and france's leaders arrive in moscow. they will meet with the russian president in the kremlin which you see behind me for talks. the aides gather at 1:00 p.m.. they were in key of -- kiev./ the french president saying they have an initiative that will restore the tour toil integrity of ukraine. a lot of skepticism on all sides particularly in the west. we have seen talks not just in moscow but minsk, milan. normandy. and geneva, going back to last summer. none have resulted in a lasting end to the violence. there is deep skepticism. this was reflected in statements by the u.s. secretary of state. have a listen. >>

>> manus, you hit the nail on the head. the finance minister is clearly struggling to come up with a list of proposals that satisfy both sets of masters. on the one hand, on the people he refers to as his european partners -- the eurogroup and the finance ministers -- and on the other hand, the people who put his party in office. you describe these proposals or this draft as being serial. the word i might use is vague. they are long on principle, short on detail. here's the problem -- this is a 1969. -- this isn't 1969. "give greece a chance" is only going to go so far with the hard-liners in the eurozone. as of yesterday we understand the troika are auditors were working hard to turn this into a concrete policy document. that is proving very difficult. nobody wants these discussions to fail. the greek cabinet is set to meet at noon today. we hope that by then this draft list will have been submitted to the troika for formal approval. if not, further delay will not be a good sign. >> thank you, erik schatzker. >> let's get

manus: that will keep the regulators happy.ame to the discussion about the swiss national bank brady dougan ties up and says long-term is about cost mismatch. the more negative the central bank goes the more pressure inputs to review, pay cuts at the board. employees down 9%. paying the price. pay cuts, dividend holds deleveraging. reducing the risk weighted assets on the balance sheet. could he have gone further? he's not a ceo that will be harried into anything. back to you. francine: thank you so much. manus cranny in zurich. guy: from banks to oil. in his first international interview since the death of christophe de margerie in october, total's new ceo spoke with caroline connan in paris. she started by asking him whether $50 for crude is the new normal. patrick pouyanne: i do not know. we are in a new cycle. our job as a company like title is not to bet on the oil price. it is to take action in order to be able to face the low oil price and be successful and profitable whatever the price is. which is why we put in place a

back to you. >> thank you very much manus cranny. we are looking at the market lower and the dax is off. there was a big story in the last 12 hours. it collapsed yesterday and the ministers had bailout fatigue. the minister said that europe is indivisible and compromise must be inevitable. >> we have been steadfast from the beginning. we want an honorable settlement and these principles of the program that have to be respected. it challenges the logic and this is what we see from the beginning. it is the only option you have. it is plan a and there is no plan b. >> there is no plan b. you heard the man. they were ready to sign a document yesterday. there was no longer that document. that was the big question left open yesterday. >> the document was withdrawn. it was presented by the man who represents the european union. the finance ministers saw the documents there and it was authored. they thought it was a fair agreement and it was withdrawn. separate language said that they knew to apply and extend the current program. they offere

manus: down eight tenths of 1% is more than a little. based on the reaction in new york, it really set it all. this meeting with the ecb was a regular meeting, we understand now from standard chartered. it is pressure on the government that banks will be able to turn to their central bank and the real risk we understand will be when the european central bank begins to tighten the chances on the greek central bank. today it is greek -- greece versus germany. warren buffett is saying the fed will find it tough to tighten rates. let's check in on some of the stock moves is see this morning. they have their numbers down 1.4% in terms of some of the individual names, bt did the deal of 12.5 billion pounds giving deutsche calm a stake in the business -- deutschecome a stake in the business. what you have there is a delivery by para boss -- paribas, the lowest annual income since this company was put together, bnp and paribas. corporate and investment banking did a little bit better year on year. 556 billion euros. legal costs of 1.1 billion. t

let's go straight to manus cranny in zurich, standing by with the c.e.o.iew you'll see first on bloomberg. manus? >> very good day to you. you wrapped up the numbers beautifully. the dividend finished up. great to have you with us this morning. when i look at your statement, the impact but you are well positioned to absorb the impact. what makes you so confident to make that kind of statement when others are cutting jobs when they're talking about keeping an eye on cost cuts? very strong statement from you. >> thanks for the question. a number of things make us very confident on this. first we had a very strong development on our asset base last year, which gives us the very diversified and global book of business. second, we already -- or still have a very strong footprint in switzerland. we still do revenues, some ch gives us a very strong anchor in our home market, and thirdly, we want to look at cost management as a series of one of the initiatives and simply now keep a steady ship and move on. >> steady ship and move on, as you say, which is something

manus cranny is at the touchscreen with the open. >> it is indeed. go to bloomberg.com and get a real good flavor of what is going on. equities have got a nice relief. the stoxx 600 has had the best january since 1989. 7.3% in january. we've delivered almost 10.3% in terms of equity returns since the start of the year. all predicated on the view that the firewalls of this map are so robust that anything that happens in greece is not likely to permeate or contaminate anything around. you have the conversation with george osborne. i sent him a tweet saying fair point, is there a plan b? are you pushing greece to the liar is the most -- are you sure pushing greece to the liar is the most sensible option? how much slack is there in the u.k. economy? where does mark carney want to take you next in the game of guidance? that is the question. let's look at the names that are moving markets. peugeot and carlsberg. peugeot up 3.37%. why so much? the headline numbers missed. delivering #ackley than they have originally. that is the driving factor behind the pe

manu, good to see you again. let's talk about these comments. that are just about trying to get support from the far right as you go into the primary season? >> yeah i think it's a sign of a candidate whose trying to please everybody and not upset anybody. and is nervous about taking a position that could provoke a backlash. and you've seen this not just on those two issues that you referred to about the president's christian faith and whether or not he loves his country, but also walker has punted about whether he believes in evolution. he's punted on issues of foreign policy, as well. you're looking at a candidate who's sort of had a rocky rollout after a very well-received speech in iowa. and i think it speaks to both his caution as a candidate as well as someone who has not really dealt with the national media in the way that he's going to have to in the next couple of years during his presidential run. >> absolutely. and probably even more we're focusing on it because it's been done, kind of a one, two, three punch in a concentrated amount

. >>> two weeks after surgery manu is back on his feet making history with his hands. he does not have complete feeling, and some tasks are a little awkward. his rehabilitation is monitored and being able to feed himself is life-changing progress. >> translation: after i lost my hand i was very scared. i'm happy that my hands have been operated on and restored and i can do my regular activities. >> manu was thrown out of a train for trying to stop a group of men accosting a passenger. 20 surgeons spent 16 hours. it is a complex procedure. taking the donor hands, surgeons have to connect bones, blood vessels. the patient has to a take drugs so the body doesn't reject the hand. 107 surgeries have been done none in the developing world until now. that is important. the developing world has a high number of amputees. countries at war have land mines and bomb attacks. those in poor countries where medical resources are scarce face a bigger risk of infection and disease. >> the big advance is that first of all it is certainly cheaper to perform a transplant in the developing

. >> reporter: two weeks after surgery manu is back on his feet making history with his hands. he doesn't have complete feeling. some tasks are a little awkward. his rehabilitation is monitored and being able to feed himself now is life-changing progress. >> after i lost my hand i'm scaurd. i'm happy my hands are operated on. i can do regular activities. >> manu was thrown out of a train for stopping a group of men accosting a passenger. 20 surgeons spent 16 hours giving him the hands of a donor. hand transplant surgery is rare and complex. taking the donor hand surgeons have to connect bones, blood vessels and tendons. the patient has to take drugs to suppress the immune system. around 110 surgeries has been done. fewer sthaeften a year. none had been done by surgeons in the developing world, until now. >> that is important because the developing world has a proportionally high number of amputees. countries at war have land mines and bomb attacks. bigger risks of infection and disease are faced. >> it is certainly cheaper to perform a non-transplant in developing countries tha

but markets am manus is all over it. >> german record.ond of markets as described in the touchscreen moving. new record low. 0.1%. 70 year yields are indeed -- seven year yields are in deep trading at a level we have not been. we have gone below zero. by that momentum. when you cannot earn anything in the bond market, and they'll bobble, the

. >> and i and manus cranny. key transport hub, the second day of the cease-fire, and we will bring you the latest. >> just about 6:00 in london, and let's talk about greece. euro finance ministers reconvene in brussels, aimed at breaking the gridlock between greece and its creditors. the greek minister said he was confident of a favorable outcome for greece, signs of a willingness to compromise sending greek stocks and bonds higher on friday. and in athens yesterday, an estimated 20,000 people gathered outside the parliament in a show of support for the government. hans nichols has been monitoring developments over the weekend. good morning to you. what is the greek strategy going into this? they still want a raging loan, and don't they? >> they do. they are likely to plead for more time, not necessarily more money. i hesitate to report i am phil in berlin. i will be heading to brussels in a few hours. the market expectation on that meeting is very much that there will be a compromise. the danger is if you do no

straight to manus cranny. >> only so much of the viewer can take. best since 18 that in 1989. european equities arose by over 70%. first-place germany. the germans win. -- european equities rose by over 17%. if the euro stays together, germany wins. the omx that was up 7.8%. i have omitted

manu raju. the senior congressional reporter for politico. we are talking about dhs, which has immigration language. lots of other issues out there as congress comes back from a week long presidents' day recess. one of them, mr. raju, is keystone. where are we at with that issue? guest: it looks like congress will send the keystone issued to the president this week. this is something that was passed at the beginning of the congress. republicans wanted to show how they are taking the country in a different direction. democrats have resisted. that bill has cleared. house and senate republicans held back on sending that to the white house while they are out of town last week. when they send it over to the president, he will veto it. it will only be the third veto of his presidency. then, it will come back to congress for an override vote. they do not have the votes to override it. it is sort of this beginning of the cover additional. of the last two years of the presidency. host: will they actually

because the equipment contained small intricate parts, cleaning it according to the manu facturers specifications may not eliminate infection. >> it's an arms race between organ ims that developed a capacity to adapt to drugs. infected scopes have been discarded. last september the u.s. centers for disease control warned of the potentially catastrophic consequences of cre and other types of drug resistant bacteria. saying that more than 20,000 people died from exposure to them in the u.s. every year >>> one of women is telling her side of the story, asking us to conceal her identity. she was an employee. she told her that it will be difficult to go forward. >> whether it's good or bad, if it happiness. there's a stigma that they won't get married. there's a stain - stay away from that world. >> four women, including lana filed a civil suit. they have been criminally charged with sexual abuse and aggravated battery. criminal charges are falls but have not responded to the civil suit. you can see more of the interview on the website aljazeera.com >>> the largest employer in the u.s. is trying to sh

if this works, mite we see unknown manu scripts from other writers? >> we might. there's nobody like harper lee. there's no other writer of her prominence publishing reticence and longevity who has a secret establish waiting to be discovered. she's the only one. >> james shields, people will probably read your book a little more once in is out. can't be a bad thing. >> god bless harper lee. >> does this fill something out, finish a story. might you have to rite another chapter to your own profile? >> i think i do now. i bring everything to a close in the 1990s, something like that. when the two sisters are elderly, and we see the end is nigh. and here we have literally another chapter in the life of harper lee. >> are you pulling for the success of "go setter watchman", i am. look at to this way. we have every reason to be excited. this is the summer of the big book. everyone from harper collins to the lady that drives the book mobile has reasons to rejoice. book clubs, reading programs those that like to curl up with a novel. we have a reason to read a book a gif

manu can't get back. clippers win it, 119-115.tout. >>> russell westbrook and kevin durant ready to get the second half of the season started. mavericks and thunder. mon ta monta ellis. westbrook takes advantage. right at the rim. attacks it hard. watch it again. mavericks are like duh, we should have guarded him. fourth quarter, thunder up 12. gets to the rim. and they're still like yeah we should have guarded him. kevin durant comes off the floor limping. he had issues at the all-star game. says he'll be all right. just a little sore. thunder win, westbrook, 34 points 10 assists. >> do you get the sense that no matter what you played in the schoolyard schoolyard russell westbrook would have been the first pick? >> absolutely. >> heard he was amazeing at jai alai. >>> the one month the white house spells wrong. >>> and what a guy found in his stew worth tens of thousands of dollars. introducing new flonase allergy relief nasal spray, now available over the counter in full prescription strength. when we breathe in allergens our bo

. >> i'm manus cranny. coming up, the new head of luxury of a watch business. >> 6:00 in london.et's get straight to breaking news. they are saying the net loss is forecast at 170 billion yen. the focus goes to the forecast the company is making for the full year. it has been reduced to 170 bil lion yen. things moving in the right focus there. a lot of focus also on how the image sensors business has been performing. those are the headlines coming out of sony. give us some details. good to see you. >> hi, anna. the net loss forecast narrowing. 170 billion yen. actually beating analyst asked miss -- estimates. analysts have been pretty optimistic about sony this time around. analysts recommendations are putting the stock at -- this is just a preliminary outlook for sony. they're counting system was disrupted at the company some studio. there is key data like smartphone tvs that people have been waiting for come especially the smartphone business. it has been pretty badly hit. they have been trained overhaul that division. it has been picked up mostly because of solid demand. two s

manus cranny has the market open. >> haircut. we are going to rechristened the debt swap and you can share the fruits of the restructured labor . that is the message coming. keep an i on switzerland. exports have dropped just before christmas. energy companies have delivered numbers that have beat and that drives the markets because energy companies are preparing to pull back on capital expenditures, what you have is profits that beat the adjusted numbers and rhyme will take you through the nuances. capital expenditure is down and it is dealing with a new reality of lower prices. what is next is profits dropping. well, here, you have a dividend that missed and there was six or $7 billion in expenditure and they had it in the fourth quarter with a nearly $9 billion and you are seeing a capital expenditure number and it comes out with a fourth-quarter profit rising and the net income up. they raised capital and it was up 43% in the fourth quarter. it would continue longer than anticipated. if you took protection and the banks stole

host: let's go back to the foreign-policy issue,, manu raju .senator mccain made a lot of news with this quotation. he was talking about ukraine. here is a look. ♪ >> this is a shameful chapter. i am ashamed of my country, i president, and myself that i have not done more to help these people. it is really, really hard breaking -- heartbreaking. >> what do you think we can be done now? >> we should give them weapons with which to defend themselves. there are russian tanks in eastern ukraine that they do not have a weapon to fight against that some of the best russian forces are there. they will continue this aggression for as long as they can get away with it, and it is not just the military side, but economically they are on the verge of collapse as well. vladimir putin wants ukraine not to be part of europe, and he is succeeding in doing so. he has put enormous, pressure on the baltics not to mention moldova, and continued on occasion -- occupation of georgia as well. this is really a dark chapter in the history of our alliance. >> i will say

let's get back to the market open with manus cranny. >> a paz for breath. the u.k. made it through to three weeks of grinding gains together. we managed to recoup everything it given away. the question you must ask yourself is whether the footsie is an index worthy of the record highs. the usa regains the records. the footsie is up on the year and the question is, is there more value to be had? let's look inside and see if it is anything. it is up. that is where there is a disappointment. you stay in the chain of hotels owned up and it is ahead of estimates. coffee is a rise. that is below what the market expected. is driving in earlier and what you had was 10 year government bonds in greece. if you had stuck with the greek government bonds, you would have a positive return and if you had the greek government bonds, the 10 year is below the five-year average yesterday and it was up nearly 10%. >> thank you very much. that is the market open. we come back lower and a company and focus is the operator of the biggest shipping container line and it missed estimates this

manu can't get back. chris paul creating space. clippers win it, 119-115. jordan 26 and 18, stout!> russell westbrook and kevin durant ready to get the second half of the season started. mavericks and thunder. first quarter. monta ellis. chandler parsons in poor defensive possession. westbrook takes advantage. right at the rim. attacks it hard. watch it again. mavericks are like, duh, we should have guarded him. >> yeah. >> fourth quarter, thunder up 12. gets to the rim. and they're still like, yeah, we should have guarded him. kevin durant comes off the floor limping. he had issues at the all-star game. says he'll be all right. just a little sore. thunder win, westbrook, 34 points, 10 assists. >> do you get the sense that no matter what you played in the schoolyard, russell westbrook would have been the first pick? >> absolutely. >> let's play basketball. i'll take russell. kickball i'll take russ. football. russell. that's all we got, back to you. >> heard he was amazing at jai alai. >>> up next in "the pulse." the one month the white house consistently spells wrong. >>> and what

. >> and i am manus cranny.one finance ministers will hold talks in brussels over greece's plan last night, greece officials said they had positive talks with angela merkel, just hours after wolfgang schauble dismissed their request. >> we must realize that, at this moment, it appears that there are powers that would like greece on its knees exactly so they can impose their will. i believe we can do what helps our country and what helps these powers. >> let's get the latest from brussels. hans nichols is there. are the germans prepared to negotiate or not? >> yes, they are clearly leaving the door open for these talks to start today. that is according to a government official. they are demanding of greece to submit a new proposal. the proposal they submitted yesterday can be a baseline. that is on the positive side. as well as the conversation between angela merkel and alexis tsipras. he seemed to say that they made some progress in those talks. after those talks, the government officials from greece clarified t

manus cranny has been speaking to the company's ceo.a difficult little period and this is how they are reacting, cut costs. there is no option. >> the head of swiss national bank's said, it is a wake-up call. when the smb backed up, it forced the banks -- it is forcing them to cut costs. collardi, the ceo at julius baer, has taken the first plunge. next week, it is credit suisse and ubs. we are talking about 100 million swiss francs. they will be back in middle office jobs. one thing i put in was this, how much damage did the swiss national bank's actions do for the reputation of swiss ranking per se? >> i don't think i can say that it damages, but i can say it was unexpected for all the different market participants. certainly, that increased the stress level for many of the market participants. i think, in a few months, the market has overreacted. i think, in a few months, it was the right thing to do. >> julius baer are not charging their clients for holding assets in the swiss bank at the moment. i thought the irony was, collardi sa

thank you so much, manus cranny with the latest on hsbc.verhaul of tesco, 10,000 jobs are to go. with an update of the changes is caroline hyde and the changes and the new ceo has come in abba, clearer. >> drastic cuts, he promised to save 250 million pounds per year and cutting expenses some 30%. of course, how do you do that? jobs have to go. as the reported in "the telegraph," 10,000 jobs have to go. some are perhaps expected to the closure -- related to the closure of head offices and 43 store closures. an additional 4000 jobs are to go and what seems to be a real change of management at tesco. they are removing an entire label of management and stripping out current employees that exist in a between store manager and shop assistant. we understand those who will be losing their jobs we do not know if they will be on the same basis in terms of pay. all of this, in tandem with consultation period that they kicked off in january when we started to hear the outline by of course the man dubbed a drastic day. he made cuts sweeping cuts at uni

. >> and i and manus cranny. >> "birdman" suite the authors with best actor best director, and best cinematographyyou can find more on this story at bloomberg.com. >> ok, we are getting some breaking news. the swiss half and they gave numbers and they deliver their news today. obviously, the report in swiss and that comes in lower than the market had estimated at 1.3 swiss franc, below the forecast of 1.4. in terms of how the business is going to perform, the volume will rise in all regions. last week, they put a clear target on that. there is a rise between 2% and 5%. now, when it comes to the fourth order, specifically the fourth quarter, sales missed estimates four point 97, but on an actual operating profit, we had a. -- eight beat. this was forecast by bloomberg. a rise in all regions. this was company, let's just see if they day on the swiss franc, and we will keep an eye on that. the ceo of the new merged company, 6.5 billion euros worth of assets couple of weeks ago. no news yet. share buybacks and capital rewards to shareholders. what let's get back to our greek story. feeling the pressur

manus cranny with the market open. it looks like we're going to come off the highs. >> everything is looking so robust. discussions of greece. both of those are very fragile. greece was up 11%. the dax rope through. you are talking about the nikkei breaking through. u.s. equity markets breaking records last week. the dow jones breaking higher. it is a discussion, more on greece. will they do a deal? the federal reserve minutes coming out. we also get bank of england minutes. the euro is taking a little bit of a breather in equities. telecom is where we are seeing most of the action. in the sidelines patrick draghi , the billionaire, they bought the portuguese assets. it is proposed they will put 8 billion euros on the table. that will give them a total of 30 million wireless customers. we are waiting on the big gaming company and the united kingdom. they were in talks to do a deal. the stock closed at 170.75. that stock is down. those are three of the individual names. gaming stocks are going to be in focus. let me sho

manus cranny looking for greece on to her the market open. >> you had a great deal of relief rally. it is a delicate balance between rising and falling markets this morning. he has been to london, rome paris. he has had a snapshot of himself, a formidable negotiator . will the ecb allow him the financial capacity to stay alive, to keep this greek roadshow going? that is the critical issue. to a certain extent equity markets have had a bullish run. the energy producers rose by almost six and a half percent. what you're seeing is is that a sustainable rise. is that bounce and oil good for the market? they say, no, it's not because it would encourage lazy producers. sky leads the pace. a great interview with the cfo. it is the italian french british juggernaut. caroline hyde will have the details. record sales in germany and austria. the number of people going off in search of new opportunities. greek bonds, great markets rising by 16%. sky stock up 2.8%. 959.5. standard charter up half a percent. one of the biggest shareholders aberdeen asset management a very good bank. mr. sanz has

but markets am manus is all over it. >> german record. contorted are the bond of markets as described in the touchscreen moving. new record low. 0.1%. 70 year yields are indeed -- seven year yields are in deep trading at a level we have not been. we have gone below zero. by that momentum. when you cannot earn anything in the bond market, and they'll bobble, the two-year and a five-year, data drives of money. you pay the ecb more to hold your money. -- as acted in your money. it contorts markets. drives into higher yields. that is either the risk or the reward. germany confidence is at a 10 year high, according to bloomberg intelligence. up 0.6%. let's see if it's on the register yet, not as of yet. a drug for diabetes comes through. a look at some of the other names. the ceo this morning, a little bit earlier, and rbs, waiting for that to open. unexpected drop will -- dropped 1.22%. that company operating profit dropped just under 600 million euros down from 700 million euros. since 2014, 230 billion euros left. sanofi has a new drug on h

it's manus cranny. >> it looks like the devil in the details in terms of what greece gives us for an agreement. we are already seeing one of the oldest political members of cerise -- five reza taking to the internet -- syriza taking to the internet. we have had the best start of the year since 1997. volatility is on the up. volatility is nearly 40% higher in european trading on average so far this year. how is the market repositioning itself? we are getting a four-month opportunity. traders are paying the most for bearish options on this market since 2011. the most widely held option is for equity markets to drop by nearly 14%. the money is flowing in, but there is caution. what is going on with schroeder's? mine is just a little bit lower. -- minors -- miners just a little bit lower. they have had numbers come through. the currency market fell. you have the yen falling and the dollar rising. things are just fine at the moment. jpmorgan asset management. more stimulus will come. 150 is one of the options on the table. keep an eye on the bond markets. treasuries are positioning for a

manus: record after record the question is, is my pension fund fully invested? global stocks at an all-time high. 10 straight games. the u.k. is still the laggard and has always been the laggard. the unwanted child in terms of the new records and tallies. down in the periphery you have the ibex up 7% but when it came to the storming triumphant return it was the greek market 25%. the dollar-russian index was up 22%. in terms of individual names willie walsh quite happy at ied. their stock up 5%. operating profit up 81%. north america doing quite nicely. caroline will break these numbers down. lloyds has the first dividend since the crisis again. they missed on their overall headline numbers but a dividend of .57 tenths. they had more people he i hundred million pounds. cells be -- now, that is how the equity markets performed. i will use of mark's stats. if you use a bar chart stat you are usually in safe territory. 9.3% is where we are in terms of yield. the best performing bond market on the global basis. if you had any mind at all, some would say that you woul

manus cranny with your market open. >> hey, jon. these equity markets, it is interesting. the debate is interesting as to whether the european central bank overstepped. by declining the greek sovereign bonds. because they are not technically still in the program. that is one of the articles. oil had a second week of gains. volatility at a six-year high. a 7 year high in terms of equity markets. saudi arabia still selling their oil at the cheapest price to asia and 14 years. the danes say it will never happen to them. so did the swiss a couple of days before they dropped their cap to the euro. a couple of interesting names that have delivered results. i sat down with the first interview with a new ceo. they say they're keeping their dividends flat for the rest of 2015. they had a policy of growing given sinc -- dividends. we are not backing away from our policy and terms of a stable dividend. capital expenditure down. originally was $20 billion. spending cuts up 30%. and they are sticking to that dividend as being flat. alcatel-lucent on the other side of the coin. their nu

manus cranny is in zurich with details. >> it was a bit of a surprise.arket was expecting brady dougan and credit suisse to agree to the dividend. you have the biggest one day gain in years that. when you meet brady, he is not a c.e.o. that is easily harried or hurried. quite measured. standing firm on this dividend. >> we have a strong operating result in the fourth quarter so i think that shows that the business continues to perform consistently and very solidly, which is good. on capital generation, we had a target for the end of the year, 10%. we were at 10.2. we exceeded that. went from 9.3% at the end of may to 10.2. you can see there is a lot of capital generation capability in the business. we felt a cash dividend consistent with last year. we are offering the option for shareholders to take scrip if they would like but we thought that was a right balance. >> do you think a lot of the institution would take the scrip dividend to afford you some flexibility in continuing to build capital. you have set leverage targets. a good year for deleveraging

manus: the equity map just beginning to show some declines. flat in paris. it is deflation there. glaxo -- wasn't glaxo, smithkline. marconi just went to zero. there is that very prophetic thinking out there. all countries eventually end up near zero. they go bust or they get taken over. bae systems not doing well this morning. you've got astra also declining. randgold in the first uptick of the day. the complexion is lower. asia, making levels we haven't seen since the year 2000. a couple of individual names. some deals, share buybacks coming through. there is something good in the world when you get a takeover stock that opens up. rexam, being taken over. the stock finished at 559.5. caroline hyde will take you through the details on that. there's suggestion from the brokers that they may have antitrust issues. nestle, one of the biggest food companies in the world. revenue missed the target of 5%. caroline will take you through those numbers shortly. swiss re, they are doing a buyback. schneider doing a buyback as well netting himself 80%. they have restructuring charges in the

let's get to manus cranny. >> it is going to be an interesting day in terms of extend or pretend as i like to call it. an extension in terms of liquidity to stay in the eurozone. to greece. who's going to face who off first? that is the crunch time for european markets. merkel. they will meet and discuss what is going on. equity markets is coming back ever so slightly. you have telecoms delivering numbers. down .9%. 58.64. they lower their overall sales forecast. the bed with has narrowed. a difficult year. fragile. that is the language of one of the biggest -- makers in the wo rld. telecom italia the pace of sales slowing down. the pace has abated somewhat. trying to save the debt status for telecom italia. markets disappointed with those fourth-quarter numbers. sales declined by 4.1%. why do i bring up brent? because i think ukraine and the ruble story isn't something that has been pushed off the agenda because of greece. --if you look at dollar- ruble, what you have is the dollar declining ever so slightly. you have this momentum because you had a big shift in dollar-r uble over th

. >> on the next "washington journal," manu looks at efforts to pass a bill to fund the homeland securityrtment. the mccollum is talked about the state of the economy, the u.s. -- and economist talks about the state of the economy, and the u.s. housing market. as always, we will take your calls and you can join the conversation on facebook and twitter. washington journal," live on c-span -- "washington journal," live on