mickey trexler. -- drexler. ♪ >> stories on bloomberg this hour. with a mixture of cash and equities. the price is 40% higher than the closing price a week ago. when the company was reported to be considering a deal. russia is a accusing the u.s. of working to oust president putin. u.s. officials have dismissed these suggestions. a warning, this story contains graphic images. the u.s. ambassador to south korea is recovering after being attacked with a knife why a north korean sympathizer. the ambassador, one of president obama's closest aides, suffered a wound to his face. his injuries are not life-threatening. his assailant is identified as a north korean sympathizer. corrects -- >> 7:44 in london. the change gear. j.crew is not wasting time with its expansion in europe. they opened a store in london a year ago. tomorrow, it will open the first j.crew in france right in the heart of paris. joining us is mickey drexler the ceo of the business. we met a year or so ago in london. you said you are going to school to work out how to do this internation

betty: mickey drexler of j.crew. brooklyn-based at sea island for an ipo could be the largest filing for a new york taste tech company -- new york-based tech company in 16 years. reality hits. china assess the lowest economic target in more than 15 years. details, coming up. ♪ betty: top stories this morning. china has announced its lowest economic growth target in more than 15 years. the premier says he wants the economy to grow 7% down from last year's goal of 7.5%. china faces a number of challenges like a real estate slump. he wants a more efficient economy but he also a dressed the issue of corruption. >> our tough stance on corruption is here to stay. our tolerance for corruption is zero and anyone guilty of corruption and be dealt with seriously. we will see to it that every instance of corruption is seriously punished. betty: strong words from the premier. the slower expansion is tolerable as long as enough jobs are created in china. the euro weakens to an 11 year low. the move comes as investors wait for mor

i went back with a guy named mickey drexler who is ceo of j.crew. dn't know mickey when he grew up in that building. i went back with him. when we were talking, it touched me and i knew nothing about mickey's background even though he grew up in the same building. i realized at that point so many talented, interesting people came from the bronx. i know their titles, their accomplishments and knew nothing about their backgrounds. charlie: we can repeat some of the names. al pacino. arlene: yes, al pacino. charlie: regis philbin. arlene: friend and neighbor and great tv personality. charlie: mary higgins clark. arlene: i love what mary higgins clark said. the bronx, she said, people just don't get it. they are three places in the world that have a "the" in front of their names -- the vatican, the hague and the bronx. [laughter] arlene: and then she goes on to say that all the talent that comes from the bronx and the beauty. charlie: so what happens? you go back with mickey and realize there are stories here. arlene: they are interesting stories. storie

we caught up with mickey drexler this morning and asked him, why paris? mr.has always been the style capital of the world. you feel a certain style and quality about everything that is done here. it has been on our list. we love the district where we opened up. francine: we have been talking a lot the ecb and qe. reinsurers are big bondholders. how could rate levels affect returns? we are joined by the scor ceo. thank you so much for joining us on "the pulse." give us a sense of whether you are worried or relaxed about the financial experiment called qb in europe -- experiment, called qe in europe. mr. kessler: we are not responsible for the financial crisis but we pay a huge cost because the return on the asset side is very low, as compared to previous years. this is a consequence of the quantitative easing that is taking place in the u.s. and europe. the financial contribution to the large institutional investors is really down as compared to what it was. it is a direct effect. it has an indirect effect on reinsurance. they are seeking return so the initial