nestlesaid is covering and maria tadeo is focusing on telecom italia.tart with you. >> valley of came out with numbers and the predictions are below the target range. this is a company that supplies the major carmakers. very good economic indicator of what's going on in the industry. the company is becoming more difficult to predict of what's going to happen later this year, and that uncertainty is likely to raise, which is already fallen a lot. matt: qw'll -- we'll watch that closely. sam, nestle is one of the biggest performers. what do we expect today? sam: late yesterday, kraft heinz took a $15.6 billion write-down, mostly on some of the key brands. craft, oscar meyer. shares were down 18%. as far as european stocks, nestle, unilever, they've been investing in healthier options. it may send reverberations throughout the industry. matt: absolutely, watching that closely. maria tadeo, telecom italia having profit target issues. maria: that's right. the stock has been under pressure for a while. the new ceo says he will drop profit targets for 2019. th

competition commissioner margrethe vestager speaking to maria tadeo, who joins us now with more on thetory. maria, the french and the germans are hopping mad. what have they been saying? maria: or was so much pressure on this woman to let this deal go through. the french, the germans, they really wanted this to be approved, she has decided not to. so much of her political capital has been deployed here, what you can see she stands by that decision. the french again today argued this was a bad idea. the germans will tell you we truly needed this merger to go through because this is the future of europe. there is a real threat from china, and this leads european companies in a weak spot. again, you may see pressure from european governments to try to sidestep the commissioner and overrule her commission. that puts the european commission in a very awkward position, because the whole point is that this is meant to be independent, antitrust. it does not take political bias or make decisions on a country basis. the pressure is on. cansaid siemens and alstom make another bid, but for the tim

the stock to maria tadeo. the prime minister's back in parliament this week but doesn't have much to bring to the table. where do we go? she has very little to put on the table. she has been told the backstop cannot bebotched, time-limited, and the eu simply want reopened the withdrawal agreement. the vote this week is about timing. she's made it clear she's willing to listen as long as she can so get control of the timeline of brexit. i would say, keep a close eye on brussels. they don't have the same impression of the labour party. they think the proposal last week could switch things. the europeanf union is no secret they would rather have prime minister may go for a cross party deal to end to have the primus are turn inwards to the more eurosceptic side of her conservative party. ofra: you mentioned the view the eu. what is the view from brussels on extending article 50? that's a very good question. it's a very good point because everyone is speak to had already assumed of the prime minister would be force

our thanks to maria tadeo in brussels. let's check in on the bloomberg first word news with arnie donahoe. reporter: ubs will have to pay $5.1 billion after being found guilty any money-laundering case. french courts ruled the swiss bank helped french clients stash funds in undeclared accounts. they have been dealing with the investigation for eight years. president trump appears to be responding to a "new york times" report that he has carried out an assault on the investigations surrounding him. he tweeted that the report is false and that the paper is "a true enemy of the people." meanwhile, president trump reportedly will visit japan in may to see the new emperor. that comes from the japanese tv network nhk. the current emperor will abdicate april 30 and be replaced by his son, the crown prince. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is bloomberg. guy: thank you very much. up next, we will tal

that's bloomberg's maria tadeo joining us by phone.e world of real estate, bringing digital disruption to connect homes, buyers, and sellers online, with full service for $3000 flat a. the idea, cut down on costs by eliminating confession -- commission fees. chris joins us from denver. i of seen so many companies try to make a dense in the real estate market and eliminate the broker, a lemonade the real estate agent. >> we built software around our whole system. so, what that means is we do not have a real estate agent who is a jack of all trades. we have great process people that process. and the technology and the software we built takes the process and applies the specialists where they are needed. different? i think there's a lot of companies doing the execs and thing and some offer even less of a fee to commercialize but we are different for that exact same reason. being able to have a specialized task for specialized people, it's really a differentiating factor for us. >> obviously the process of homebuying is an anxious one or h

maria tadeo, what have you got?is, vision is rigged because i bring you cash and warren buffett. berkshire hathaway announced that is sitting i'm hundred $12 billion. treasury rates are now the most attractive in a decade. yielding 2.4%. to see that lovely have to go back to 2008. if it works for warren buffett, i'm sure it works for you. matt: it does work for me but goes to dani burger for the next chart because i fell victim to the big strap today. looking at just the naked vix chart american believe how much it had fallen it is a little bit misleading. burger,lations, dani you win. viewers can see both charts and you can choose your own winter. just use g tv on the terminal. out maria tadeo and dani burger. a look at european equities as we head to the end of the first hour of the session. we are looking again see or half a percent in frankfurt, 9/10 of a percent in move -- milan. not like the 6% gains we saw in china on trade optimism. that will continue to the day. this is bloomberg. s is bloomberg. so wi

is our reporter maria tadeo in brussels for us. good morning. e emerging between brussels and london this week? they are working on some new text. does that mean they can agree on some new text? maria: good morning, anna. we heard from jean-claude juncker who said we are in gods hands, but in reality on the ground, the situation is more fluid. we are in tying the entire brexit team, they are already touring europe trying to sell the deal and we expect to hear from the attorney general. clearly, this is key. if he can say the backstop is it is not that bad, the prime minister hopes that can maybe persuade some mps to switch sides. that is what this new text should be about, clarifying the language on the backstop. from an eu perspective, that is not to say they think next week will solve all the problems. in the eyes of european leaders, they still think this will go to the wire. nothing substantial will take place until march, and again, the-claude juncker floating idea that ultimately, the u.k. will have to ask for an extension of article 50. an

nejra: maria tadeo in brussels, thank you so much. kassam is still with us. nt maria made is both sides want a deal. no deal brexit is lose-lose, globally. the political will is there. the fact the eu is still talking to the u.k. despite having officially said there's no more negotiation to be done i think is a good sign, as well. nejra: this neatly moved my chart, analysts raising their forecast. is the market positioning correctly here, or is this complacency? altaf: i don't think there's complacency. i am surprised how low foreign exchange and applied volatility has been. does it feel like the fx market is positioning for a big move in either direction. it does feel like the market consensus is for some deal to be reached. i would not call it complacency. i think the options market is a good place to take it. nejra: taking of you in the auctions market, would you take a view in u.k. equities? altaf: right now, the uncertainty is so great i would be waiting more on the sidelines. you have the push pull of a weaker sterling flattering u.k. companies overseas

joining me now is maria tadeo, whose in brussels for us. ster due back in parliament but doesn't have much to bring to the table from her trip to brussels. where do we go from here? maria: good morning. very little to bring to the table. we know the european union, the backstop cannot be time-limited. there is no appetite in the european union for the time being to renegotiate the withdrawal agreement, so really she has very little to bring to the u.k. parliament. i will say, in brussels, everyone is, i would say, keen, and they are curious to see what labor does this week. we know they put forward a new proposal last week. the eu has not made a secret about they would like to see a deal, by the close relationship between the u.k. and the european union is dead. the premise are trying to get the skeptic side on board. that is something everyone will keep an eye on this week on. matt: what's the view from brussels on the possibility of an extension to article 50? or is march 29 still the preferred date for europeans, as well? maria: that is a

joining us is maria tadeo. explain to us what is the issue? oo big or is it is the process by which they reach it? maria: both. they cannot agree on the amount or who should be in charge. is it a question of countries that share the euro or should in -- should include the eu 27, everyone who is part of the european union. the french government pushed hard for this but is not managed to get the germans on their side, at least in an open way. this, the outlook for the eu has become more challenging. you have germany now flirting with a recession. you also have italy back in a recession. today and ministers they are arguing we might be being a little bit to business to -- a little bit too pessimistic. the end of theby year, europe may outperform. david: it appears they're about to lose one of the biggest contributors to that budget, the united kingdom. there seems to been some payment in the deal so far, that it will go way up some point. paid into the eu budget, and both sides have agreed that for the u.k. to leave, they will have to pay for the

joining us now is maria tadeo.t the polls or what we can expect, it is either a pedro sanchez government or you have a three right-wing groups that could potentially form a governing allowance. what will their different policies be? you look at a lot more political fragmentation. the election now call for april 28, which is awkward timing because it's easter week. half of the country will be on vacation and it comes just a month before the regional election. the timing of it is a little bit strange. when you look at polls, it can go both ways. you could get a social government. but again, it is a replay of the very unusual, very shaky, very weak government we have seen over the past few months. or we could have a three-way coalition. to get a coalition government or the need to rely on three different parties also looks difficult because it has never been done before or tried before. again, both scenarios are very shaky. what we are seeing increasingly are very short, week fragment governments that are unable to ge

one third of assembly seats, according to reports said to be published this week. .oining us now, maria tadeo us. let's start off with you. if the european parliament turns populace, what kind of policies will we see? maria: good morning. , euro skepticse would win one third of seats. that is not a majority but they could block important legislation. is that that recovery, on paper, does not speak to the european working-class in real life. that is reflected in the decline we see and support for european social democrats, the guys they put in place pensions, health care. they did not connect with their worker class the way they did in the past and what you see is they turn to more extreme options. me a sense of whether we are going to see fresh elections in italy and would it be before the european parliament elections given what happened in la bruzza, five-star tumbling. alessandra: that is a good point. may is close and italy has system for getting elections going. thesei has bet a lot on elections, he is hoping to get a boost from them. it is likely we will not see elections before them. t

maria tadeo. tell us what is happening in the indian market today. >> good morning. anticipated. we anticipated we would have a start that was marginally often the session. you see some tremors in the nifty bank because one of the out andanks selling as a result, the banking index, the nifty bank, down 187 points. that is also because of an idiosyncratic reason. markets are waiting from the qs from washington before deciding what to do next. otherwise, no complaints because the last two or three sessions have been good for india. a bit of a catch-up. a down day is not unwelcome. nejra: maria, you are looking at the kiwi after the reserve bank of new zealand. >> first, chinese stocks are up today 1.9% and this is all to do with trade tensions, maybe not so much the idea we could get resolution by the march 1 deadline. president trump will need -- meet with china's vice president today. when you look at the currencies, the new zealand dollar is in focus. down today, to do with the central bank. rationale is new capital rules for banks could lead to increase lending costs, pushing d

maria tadeo is looking at danske bank and annmarie hordern is focusing on deutsche bank. ., you have the earnings and news from the trump administration. the largest maker of insulin in the world, their sales are expected to grow this year. in terms of last year's sales, a miss on expectations according to analysts. they could see four to 6% downgrades for earnings the next two years. news from thethis trump administration about rebates. they are going to reduce those, but it is more impacting pharmacies rather than drugmakers themselves. comments from the ceo coming up. the main take away from the earnings, a miss on expectations. the stock makes up around 15% of the copenhagen index. anna: we will look out for that at the open. we will talk to the management to get reactions to those moves ahead of the state of the union. you have the latest on danske bank. >> denmark's biggest bank was involved in a money laundering scandal last year. profits for 2019 will be down. the number of clients also down. after the scandal broke, that led to net outflows. their sharerapped buyba

maria tadeo is looking at pandora, joe easton covering the chipmakers and anne-marie focused on bp. start with you, we are talking about the ovary maker not the internet radio station. >> absolutely. retail a story about pain, we spoke to the cfo and the expect business to shrink this year between three and 7%. they have had to concede on their guideline for 20, the goals look realistic. they did an ounce a share buyback and the cfo is confident revive thegrowth to sales. the market is a lot more skeptical. we have seen a trend of declining sales across the board. thank you, joe easton looking at the technology plays, a gloomy set of updates. joe: you mentioned earlier it is a double helping of chipmaker profit. of theyorse in terms have removed their guidance completely and scrapped the dividend. infineon is more influential, it is a much bigger company and has a much larger supply chain but it could be another nasty day for chipmakers. they are both apple suppliers. keep an eye on that sector this morning. heard from bob dudley, what are we expecting for bp this morning? >> shares

for more, maria tadeo joins us. the prime minister didn't get the concession she wanted.he get anything out of this? she didn't get the concessions, she did get the legally binding beverage she needs it wasn't a complete failure. especially if you take into account everything that went down everything -- the day prior. there was a suppression of the prime minister was almost walk into a trap. that was not the case. -- did didn't agree agree to reengage with for the uk's good news. the you had said as far as they were concerned the negotiation was done but now they are back in the negotiation. we don't see much progress because the eu says we can't change the backstop we can't put a time limit on it. the primus or is nothing new to offer. -- prime minister has nothing new to offer. matt: the comment isn't that brexiteers should go to hell but there's a special place in hell for those who backed brexit without a plan. right? without a plan. great they said the devil would let the men. a bit of banter which normally british people appreciate but in this case they seem terrib

maria tadeo is in brussels. russell and, let's start with you. good morning.was a nonbinding vote. so, outline for our global audience why this matters. ross lend: it is symbolic because it was nonbinding, but it was also meaningful. what theresa may is seeking to do is to present a united front to brussels. parliament is behind me, lawmakers are behind me. they endorse my approach and they are going to give me free reign to negotiate with you. that's what didn't happen last night. arguably, it does weaken her position with two weeks to go to present something to parliament to get a change to that deal. nejra: what is the likelihood of parliament taking control of the process and delaying brexit? all comeswell, it down to how parliament votes on federate with a seventh and whether at that point parliament -- with on february 27 and whether at that point -- we also they extend brexit. right now, her priority is to get a deal, have an arrangement for the end of march. given her results of a no deal brexit could be catastrophic for businesses, people are talking

maria tadeo is on the ground in brussels. is there anything we are hearing from the e.u.ny, because the u.k. briefly reported this will be significant meeting between juncker and may. they will tell you they do not see a break serve and it is a waste of time. they are running two different narratives. the last time this happened was in salzburg and that was a disaster for the prime minister. what we have seen in the last hour really aggravates some of the concerns from the europeans, this is a prime minister without a majority. why should we give concessions now if she may not get the deal done? everybody on the same page in brussels? maria: at this point, they are, and jean claude juncker has rallied the troops, saying the only weakness with regard to the e.u. is that the unity could crumble in the final weeks. that i see is we are on two different deadlines. european leaders are in no rush to get this deal done and see it going all the way until march. tom: what are the contingency plans? we saw headlines against the bloomberg that basically we are doing every plan, eve

our maria tadeo there. of the irish p.m., may britain. she and brexit will have a special place.they will review less profitable opportunities. the french banks have a special place in quantitative hell. lacqua. keene, francine all american banking has been waiting for this. this is the first big regional or super regional merger. , let's call itst two southern banks, they will merge. 35,000 -- make it 59,000 employees compared to the big banks with 220,000 employees. a combined revenue in the vicinity of $21 billion versus jpmorgan at $110 billion. the size of 1/5-ish jpmorgan. hugely anticipated. francine: i find interesting the financing. about 57ers will own percent and suntrust owners will own about 43% of this new combined company. tom: the body language of management, king will be the new ceo, kelly king. what is far more important is wait andbeen wait and finally we are seeing them coalesce to compete with the ascendant 2 -- too big to fail. there will be much more on this across the bloomberg today. right now, our first word news. shed theirhe e.u. slah forecast growth d