peugeot needed outside help.y 2013, talks started for the french state and china's motor to buy 14% each. for the family to half its holdings and carlos taveras was appointed. taveras started his career as a test driver at renault. by 2011, he was renault's chief operating officer, second to only carlos ghosn. then came the bloomberg interview. taveras laid out his personal ambitions. >> surprising actually. you have somebody who is the right hand and for a very successful company. didn't have any of the problems you see today saying how would you like to become a ceo and i have to leave my company, i will. >> he didn't last much longer after that. no matter, by the end of 2013 he was appointed to the top job at peugeot. he announces turnaround plan, back in the race. >> he is a ruthless cost cutter. he had to be. that is why peugeot has similar margins to bmw, but some of that has to do with restriction charges. and just experience. he has been in the industry a long time. ♪ >> if you look at the end, you can se

plus, the good thing about peugeot would be peugeot is a very strong, committed, and proven leader, who could see as a person who could run such a large global entity. vonnie: you point out that the french government's position would be diluted in a deal from 15% stake with special voting rights to 7.5% without special voting rights. when governments get involved, they really do the right thing, but in this case, it is the government that is really profiting for the french people, right? what makes you think they didn't do their due diligence for the people of france? arndt: it is just very obvious that politicians are very often on very different agendas. i see that in germany, with volkswagen. if you are a politician and you support this verdure, and a plant is closed in france and the unions trigger a standstill and protests on the road, what happens to the politician? that is what they are interested in, in my view, rather than the in thisr shareholders case, or even the very long-term fundamental outlook for the two companies. ,hat is what we see very often and in this case, it has

peugeot within the early outperformer as we just heard there from our auto's guest. peugeot could use this as an opportunity to step into the fold and potentially look at a tie-up with fca. utilities at the top of the board there. the defensive sector up 1.3% and just behind them chemicals up 1.1% let's look at fiat shares to see how they're trading this morning. they have actually turned positive after initially dropping at the open up about 0.02% so basically, flat on the day. of course, the conversation has now turned to what happens to fiat and perhaps investors are thinking about what other tie-ups the italian american automaker could pursue the deal fell apart due to political considerations in france so perhaps fiat chrysler looks beyond france for another partner. >>> let's step into the macro now and i want to give you some fresh comments from president trump. he has reit rated his threat to hit china with another $300 billion of tariffs amid heightened trade tensions between beijing and washington president trump made the threat as he departed from ireland

companies has also driven up on employment european firms that have left include car makers mercedes and peugeot but smaller firms are also becoming increasingly wary of doing business in iran should iran follow through on its threat to enrich uranium beyond permitted levels the nuclear deal could collapse entirely in that case u.n. sanctions would also be reimposed a move that could bring the iranian economy to its knees eichel talk germany a rainy and chambre of commerce and joins us now from. the situation in iran what are you hearing from your contacts well the sanctions are very few and visible in the streets of tehran for every hearing in the in the last weeks and months prices for daily products increased dramatically. so these sanctions are not specific anymore they are not the against special companies the war against the country the sanctions hit the effort ukrainian all over the country german and european countries do not have to comply with the sanctions against iran nevertheless trade sharply why. it has flown through a metal e.u. for the 1st quarter of 2019 we as german companies

do they tried to reignite talks with peugeot or look for another partner?: thank you very much, covering the fiat and renault talks break down. luigi demaio speaking on radio parametersall eu must be abolished, but he says that youl not heed call for cuts to the italian budget. we are looking at pictures of president trump leaving ireland for france for the d-day anniversary. we will cover all of these issues for you. this is bloomberg. ♪ anna: a minute to go until cash trade here in europe. let's look at how the markets are positioned. the asian equity session in flat to negative, and weakness from china despite the pboc pumping in liquidity. two year yields, what do you think will happen to the curve through the air? will it be back to flattening, or on to a new narrative? crude into bear market territory with oil prices. interesting to watch how long we remain downward. the mexican peso losing ground overnight against the u.s. dollar, and we saw president trump at the airport putting pressure on the mexicans to do more with immigration. , flat, are posit

peugeot gotee how back in the race. ♪ >>

join us to see how they put peugeot back in the race. ♪ >> it is a source of pride for the nation.

vauxhall owners peugeot say they will build the new astra at ellesmere port in cheshire, but that decision obachaan, this week nicknamed bg 20 grannies, are out promising laughter and happiness. so it‘s a shame the summit is most unlikely to be harmonious, positive or uplifting. heavy rain greeted the leaders, predicted to keep falling through most of their summit. head—to—head talks between china‘s president xi jinping and donald trump will be critical. their escalating trade war is dragging down much of the rest of the world too. so, any sort of truce here would be hugely welcome. but the biggest summit split with president trump is over climate change. he‘s leaning onjapan to drop from this g20‘s agreed conclusions any reference to reducing the use of fossil fuels. la marseillaise plays. it‘s all too much for emanuel macron, the president of france. he‘s arguing precisely the opposite case to japan‘s prime minister shinzo abe. translation: if we don't go far enough with our climate ambitions then we‘re holding this summit for nothing. prime minister abe and i care about the g20. we‘re f

time it's the turn of psa, the carmaker, you may not have heard of them but they own vauxhall and peugeot country is dependent on what sort of brexit deal we get and on the unions agreeing to a new deal for workers. they haven't given any more info but we think they want the government to agree to frictionless trade with the european union, that means they wouldn't have to pay any taxes to send parts or their finished cars over the uk—eu border. they don't want checkpoints or anything. that would make it so much more difficult for business, getting the parts in and getting the cars out. the smmt, which compiles these figures for the industry, also warned the impact of a no—deal brexit could be "seismic". that is a significant word. notjust this company saying it, we are reporting lots of other companies. who else has been talking in the auto sector? japanese firm nissan had a change of heart earlier this year and decided not to make its new x—trail car at its sunderland plant. brexit wasn't the only reason but they said it was making it harder to plan for the future. we've also heard from