the peugeot ceo will run the company. the deal between the two companies will be the chairman of the new company. anna: we certainly saw the share prices moving in an anticipation, didn't we, in recent months? tommaso ebhardt, milan bureau chief. we will be in paris and milan throughout the morning to keep you up-to-date with all the latest on this tie up between these two carmakers. just under one hour away from the start of a cash equity trading day, let's take a look at the futures and european futures looks at for a little bit of weakness at the start of trade. the ftse 100. may be a little bit more muted. we have something of a pause coming for equity markets, it seems. let's look at u.s. futures and see if they tell us the same. the pause comes through loud and clear when you look at what is going on in asia. u.s. futures with muted with slight -- look muted with slight downward bias. the u.k. publishing space in focus with news out of pearson, but look at the gmm. the big picture is we are not moving anywhere very

tom: forget about fiat-peugeot.likere extraordinary something out of the 1950's and 1960's. francine: we talked about the strikes and pension reforms, and we will figure out whether macron has been doing a good, ok, or bad job pushing through the structural reforms bond investors have been looking for. tom: interesting stuff happening at year-end. with our first word news, here is viviana hurtado. ♪ hey historic day in the house -- viviana: a historic day in the house of representatives as they expect to make donald trump just the third president to be impeached. lawmakers will continue two articles of impeachment, abuse of power and obstruction of justice. the senate is expected to acquit the president. the trump administration is ratcheting the pressure on iran and have driven iranian oil experts to record lows. president trump is trying to after lastn to force week's political drubbing, tony blair will tell the labour party it needs a total change. blair is the only person to lead labour to an election victory an

peugeot psa group teaming up with fiat chrysler.n europe are trading at these levels at the moment. i had a look at psa group shares, about ten minutes ago, they are up 2.6%. fiat chrysler shares not up as much, by a quarter of a percent, but that is the market reaction to that big merge news in the car industry. sally, thank you very much. now to the us, where samira hussain has an important question for you! what did you have for breakfast this morning? well, if you said cereal, then you certainly aren't alone. here in the us, americans consume more than $8 billion worth of cereal every year. but investors in general mills, the company that makes cheerios and chex, will be more focused on what's in your pet's food bowl than yours when the company releases its earnings later today. now, that's because last year, general mills bought blue buffalo pet products, as a way to diversify the products it sells. both people and their pets have been moving to healthier natural food products, and general mills is banking on the love of our fo

psa, peugeot, formerly announced the merger fca on the italian index leading some of the gains on those indices. it has been a long time coming one of the big stories driving autos. ftse 100 is something we've been watching closely we saw that big bump on friday some of the stocks pulled back their gains also worth baring in mind big movement in the pound. sterling trading back down to 1.30 and up to 1.35 that brought in a big majority for the conservative party people thought that would bring in positive news latest developments have shown they would like to rule out the possibility of another extension on brexit post 2020. switching on, let's talk about some of the price action in asian markets. you can see moderate gains for shenzhen slipping overnight to the tune of about 0.2 of a percentage point. nikkei and germany slipping around 0.6 of a percentage point. we saw weak numbers for november down around 8% year-on year. imports dropping around 16%. taking a bit of a breather but worth mentioning that all of these indices are up north of 20% for 2019 so still been a strong year. >> j

chrysler and peugeot have reached a deal to merge.au has the details for us. >> it might take a year for the deal to come together. if it does, it would make them the fourth large est car maker the world. they're saying no job cuts, no plant closings, but they do admit it will take a while for regulatory approval, which could be 12 to 15 months as i mentioned, if these two companies can get this all the way through, they would become the fourth largest automaker it shows third here but we're not including nissan-renault there. fourth largest, larger than gm, hyundai, ford. take a look the at the two shares peugeot has done a great job this year. if you're an investor in europe especially and have invested in peugeot, they've done a fantastic job this year. hoping to bring that magic to a combined psa. >> i find it relatively amusing to think about these brands. fiat is part of a u.s. company peugeot, what hope do they have of significant sales in the u.s. >> i'm not sure that they're planning on growing those brands a whole lot in the

think it's going to be great actually i think it's a better move for free at chrysler to merge with peugeot or p.s.a. versus going with re no in mitsubishi and nissan and the reason for that is it will 1st off there's an interesting story behind it i'll give you the short version is that john elkan who also met with robert peugeot for dinner just a couple nights before all this happened and they agreed they're old family friends but also old friendly rivals from the 18 ninety's that they would work together rather than fight each other to share platforms of technology and engines and drive lines in this regard to sharing instead of being enemies being friends means ople pujo and feel that chris are brands g. brand and so forth chrysler will all work together that's good and that will make them the 4th largest car manufacturer and they will be competing against reno mitsubishi and nissan now and they know where their weak spots are and this will make them very strong so this is really really good for them for the auto industry it will bring jobs to the u.s. we won't lose jobs here but also b

the reason this is a big deal is that the french government still have a financial stake in peugeot to about 12% you may recall earlier on, there was a potential merger put forward that didn't go ahead today, we do have the green light. that is the screen of the stocks psa up about 1.6% on the news. fiat chrysler up about 0.2%. these discussions have been going on a couple of months now. it is a case of confirming what had been in the pipeline for the last couple of months. let's get out to the analyst of the automotive sector. i want to ask you about the big take of price this morning not so much for fiat chrysler. >> it has been in place for weeks and months now, really the company would have indicated that it would progress into the former alliance. i don't think the market is particularly surprised >> one of the things they said is that they achieved $3.7 million a year. where do you think those are going to come from and how re realistic is it to think there will be no plant closures. >> the plan about a decade ago to create a much bigger car company. he was always looking to part

or is highly estimated among car analysts he managed to turn around he has managed to turn around peugeot in the last few years he manages the integration of opel rather swiftly if there's one manager in this sector who can tackle this merger it's carlos torres that's what i heard here today on the trading floor it's a mergers like this usually costs jobs what do we know about that. well of course this. only makes sense if the 2 companies lift the synergies that they calculate with now at the beginning of the merger colors tavares also is known as a hard nosed cost cutting and of course it's obvious that. car makers combined don't need for example all those design and engineering centers they have italy in italy alone has 3 such development centers with ordinary workers have to go well most probably there are estimates that the big group for chrysler has 10000 employees it doesn't need. thank you. for. no christmas without gingerbread or no hanukkah without us weeks before the jewish holiday off hanukkah also known as the festival of lights it's high season for bakeries around israel to p

group the maker of peugeot and chrysler have reached a binding agreement to a merger the $50000000000.00 deal will create the world's 1st 4th largest car producer if the deal's approved by the e.u. and shareholders the aim of the 2 companies nothing less thing girding their products for the bumpy road ahead. it's a merger of equals a $5050.00 deal worth $50000000000.00 it brings together some iconic brands on the french side as per usual and citoyen as well as germany's opel and then this few chrysler with not only its namesake brands but also dodge and cheap and even some luxury brands alfa romeo and muscle roddie well some of these brands have struggled in the past and found it difficult to adapt to massive changes in the automotive sector together they form a strong global player. the merger creates a new number 4 in the world com market with combined sales of just under 9000000 vehicles chrysler is topped by germany's faux japan's toyota and by oh no nissan all selling over 10000000 vehicles per year the new company leaves behind american automaker general motors. together few at chr

the boards of french carmaker psa, the owner of peugeot and fiat chrysler, in separate meetings on tuesday a $50 billion merger, according to unnamned sources .a formal announcement of the merger, which would create the world's fourth largest car maker is expected later on wednesday. a nearly $731 million tax break helped anglo—dutch oil major shell avoid a coprorate income tax bill in the uk last year, the financial times reports. the newspaper said such write—offs could continue for years. the tax break is used to defray the costs of dismantling oil and gas rigs in the north sea. shell's chief financial officer said the company complies with the applicable tax laws "in all the countries and locations in which we have a taxable presence. " the british pound has now shed all the gains it made —— that's it for the business briefing this hour. chemotherapy drugs could become more effective and have fewer side effects, according to doctors at a hospital in surrey. although the trial at the royal marsden is still at an early stage, acoustic cluster therapy aims to help anti—cancer drugs target

makerhrysler and peugeot are set to form the world's fourth biggest carmaker.omberg has learned that two companies plan to sign a formal agreement next week. the accusation has been called meritless. elliott says pg&e's jeopardizesg plan -- it's one of pg&e's biggest creditors. it the firm asked gavin newsom to help kill the plan. tos up to him whether or not approve the proposal to pay out money to for wildfire victims. americans are poised to fall behind on their credit card bills for the highest rate in decades. according to the credit rating company transunion, the share of credit card users who are at least 90 days past due will probably rise to just over 2% next year. that is your business flash update. u.s. regulators are digging into a topic that has been bugging wall street and washington after a vanity fair article suggested investors make billions of dollars trading ahead of market moving news. i guess is you with the details. obviously, that raised eyebrows. you say the regulators are not seeing evidence that these traits caused trouble. >> that's r

with peugeot.derstand there is a deal that will be signed probably before christmas. we know there are 100 people between peugeot and fee at executives working to reach a -- and fiat executives working to reach a deal. another issue that is coming on the table. we also have to say that our -- that peugeot is fully aware of and no one will delay or harm the deal. francine: thank you so much. let's get to the bloomberg first word news in new york city here's viviana hurtado. president in saudi arabia will use a carrot and stick to persuade its opec partners. that is if other producers keep failing to meet their targets. the potential reward for complying, riyadh will lead the way. the chief executive says opec cannot defend prices. >> i do not believe that opec has the capacity to defend price. global demand and global supply -- if demand is weak and global supply of oil continues to grow, we will have a low price. viviana: an unexpected hold in india, the r.b.i. keeping its benchmark rate unchanged.

peugeot is ok. fiat is not so good. -- this is notce rocket science.veryone can buy batteries at the end. both of them did not lose so much. the combined company has a chance to be in one or two years a very good competitor. matt: do you like bmw? do you like volkswagen? you don't have a buy recommendation on daimler. why is this stuttgart-based carmaker the loser? juergen: one thing is management. to make it simple, i like the management of volkswagen and i like the new management at bmw. he is a great guy in this industry and daimler has had problems in the past. more or less for 20 years or so. lack ofhas always had a management talent and of course, howtill do not really know good he is in the end. the first six months have not been that great and the performance recently in london was also not very good. i am not very impressed by isagement and also, daimler makers in two german terms of technology. matt: thank you for joining us. , head of research at b metzler. morning wetuesday will recap some more of the stocks to watch at the opening. limits

fiat chrysler and peugeot joining forces in a blockbuster merger.eliminary plans for a deal six weeks ago. the new company will be the world's fourth largest automaker. jackie: investors will be watching those stocks and the rest of the markets because stocks posted modest gains yesterday. that was enough to send the dow industrials, the s&p 500 and the nasdaq deeper into record territory. the question of course is, will this bull run continue into 2020? rebecca wolser joins us now. rebecca, great to see you. good morning. >> good morning, jackie. jackie: let's get to it. santa claus rally seems to be on here. >> yeah, i'm really excited. i think we have a lot of wind at your backs with usmca and -- our backs at usmca and phase one with china. jackie: big week last week, in some ways for the democrats but for donald trump as well. usmca, phase one china deal, you know, avoiding potentially a government shutdown, seems to be on track. we're looking at millennials right now who still support socialism. when you look at a stock market like this, when y

the peugeot deal is the breaking news in the car sector.ying sales growth for 2019, below guidance. guiding lower on unilever. this is related to the auto story. , young some lower guidance will ever expecting their first half 2020 growth will be below 3%. a hand over at unilever not that long ago. emerging-market stories are of interest. the packaged food story picks up on that. we will talk more about the unilever story as we go through these markets. does the buck stop in the asian session? we did see some progress to the upside in some of the asian markets. the chinese market doing well, in the asianir .8% session in some markets. despite not getting any clarity agriculturalhich purchases from china, and how much rollback in terms of the u.s. tariffs on china, we do not have any clarity on that. the s&p hit new records. keep an eye on fx markets. the pound on the move to the downside, and a change in the loss of no extension can be made after december 2020. this ties the hands of mps and the government. we will talk more about that. mat

peugeot: workers at the factory believe their jobs may be asked in coming months. >> we see les temps coming in. the extra work falls on us. we are exhausted. >> the factory will have fewer workers and will suffer. cutrter: the industry could 15,000 jobs by next year. 45,000 in the next 15 yearars. french car builders will stop reducing diesel cars because they pollute too much. replace diesesel with electric models, they are still likely to cut jobs, because fewer workers are needed to build those vehicles. the french government is worried for the whole sector, and says subcontractors will have to diversify production. realistic,to be anticipate, and not wait until it is too late. many subcontractors wilill struggle next year. reporter: the government is setting up with 50 million euros to help in the transition. >> 10 years ago, the government pushed people to buy dieiesel cars, saying it was a green technology. now they are saying the opposite. the industry will struggle to shift production in such a short period of time. therter: to limit losses, government has asked car builders

this as fiat chrysler and the parent company of peugeot agreed o terms it of a 50/50 merger. >>> and there's a new way to share images on instagram. it's called layout mode. >> it allows users to upload six different photos at a time in six different grid patterns. >>> and facebook owns the four most popular apps of the decade. >> instagram, messenger, whatsapp and facebook top the list of downloads over the past ten years. tiktok is the only other app in the top five. >> those are your tech bytes. >> they have taken over. >> they have. and we use all of those apps. so many of them every day. i need to take a break. >>> police nab a suspected package thief in the south bay. why they think he may have hit several homes. >>> and vta tried to attract more commuters. the offer it's making. wihefty! hefty! hefty!n. hey ladies... buy hefty® ultra strong™ at a low price. dada! i wish... get hefty® ultra strong™ costs less than glad® forceflex where sold head to head. >>> let's look at how much rain. we'll reset the clock at 4:30 and go up to 11:30. some areas up to a half inch today. most o

. >>> board members of fiat crim race here and psa the owner of peugeot have inked a deal that wouldo the world's fourth-largest automaker. the move is expected to produce a wider variety of cleaner vehicles at a faster pace including more powered by electricity. the new company doesn't have a name yet. it will be led by psa's ceo. >>> and retailers are expected to ring up record sales on super saturday. this year there are fewer days than usual between thanksgiving and christmas. giving shoppers less time to buy gifts. in recent years the saturday before christmas has seen a late surge in shopper traffic. many retail analysts estimate the surge will make super saturday the biggest shopping day this year. >>> anne-marie? >> how about you, diane? are you going to be contributing to super saturday, or are one of those super organized people? >> i'm in the middle. i'm like pretty much done, but i've got to check with my sister to make sure there's not a couple other items i don't have to check off. depends -- kind of depends on the family experience of things. >> i understand. i underst

. >> the boards ofof fiat-chryrysr and the peugeot group have approved details to create the world'sourthth largestst c ca. talklks were reported at the end of octoberer. the merger is seen as a a boost for both companinies as ththey l with the global downturn in the car industry. the plan will see a big win for shareheholders with bo c compans announcing massive dividends. >> a new car in the street giants is getting into gear. the merger between pozo and fiat-chrysler is no official, make -- is now offfficial, makig it the fourth biggest carmaker in the world. 400,0007 million -- employees as well as a catalog of household names including jeep and maserati, the new franco italian american powerhouse base in -- based in thee netherlands will surpass volkswagen as the market leader in europe. >> this is a union of two companies with incredible brands and a skilled and decayed workforce. the have both faced toughestst of times and have emererged as minimal competitit. predicted toer is save the companies 4 billion euros a year. -- in the midst of a glglobal crackdowown on emissions. >

group which owns peugeot and vauxhall have announced that their boards have agreed to merge the 2 car makers the merger creates the world's 4th biggest all the company which will be led by c.e.o. carlo. here in germany the chancellor angela merkel's governments is aiming to ban what is known as gay conversion therapy for minors now the government says that the practice which claims to make gay people heterosexual has no scientific basis and that it often calls a psychological harm of the cabinet has approved the wall it has to be passed by parliament before it takes effect. by banning conversion therapy germany's health minister says he wants to protect young people the law says that so-called cures for homosexuality that try to change people's sexual preferences lead to considerable emotional and physical damage. this is about addressing individual suffering and the suffering of those who have received the therapy but it's also signals to society that homosexuality being gay or lesbian is totally ok and this is for the. boston measure has experienced so-called gay conversion therapy

the of chrysler and peugeot manufacturer p.s.a. group have announced that their boards have signed a binding deal to merge the 2 automakers companies at the new group will be led by p s a's c.e.o. carlo taurus the new company will be the world's 4th biggest auto company. australia has endured its hottest day on record with the national average temperature reaching 40.9 degrees celsius the top of the last record from 2013 the record busting heat comes as the nation battles a severe drought and bush fire crisis. well the e.u. parliament's its top accolade the annual sakharov prize for freedom of thought has been given to weaker human rights activists ilham tohti the board was handed over in the european parliament in strasbourg to his daughter because told he couldn't be there he is currently serving a life sentence in prison in china are charges of quote separatism for his imprisonment in 2014 toti works for more than 2 decades to improve the rights of the persecuted we're minority more than 1000000 readers are currently being held

fiat chrysler and peugeot are expected to confirm their pending merger with a binding memorandum of understanding. reports suggest the boards of both carmakers have now proved the terms in separate board meetings. the announcement exexpected on wednesday. fifty billion dollar merger would create the world's fourth biggest or manufacture. type could extend their global reach amid sluggish sales growth. they also be pooling resources to get ahead in the race to developp cleaner cars. medical global crackdown on emissions. argentina's new government has unveiled a raft of new policies aimed at turning around the economic crisis that b brought emem to powewer. among the hehelines a higher threseshold for taxing exports of soybeans corn and wheat. hold on plan a planned increases in public utility rates a new tax on foreign currency and incentives for pepeople who bring foreign assets backk to argentina. governments also trying to negotiate more favorable terms for the imf's fifty seven billion dollar loan. it marks a u. turn from the austerity and pro business platform former president mary sue mochr

chrysler and peugeot manufacturer p.s.a. group have announced that their boards have signed a binding deal to merge the 2 automakers the company said the new group will be led by p s a's c.e.o. car lot of us the new company will be the world's 4th biggest auto company. australia has endured its hottest day on record with the national average temperature reaching 40.9 degrees celsius that tops the last record from 2013 the record busting heat comes as the nation battles a severe drought and bushfire crisis. well the united nations has urged rich countries to do more to tackle the world wide refugee crisis speaking at the 1st global refugee forum engineer u.n. secretary general antonio good terrorist criticize what he called a quote hostile political environment for posing a threat to asylum seekers now one example of this can be seen in the west african country of niger but the recent increase in the number of migrants going from africa to europe the e.u. decided to shut down some of the main transit routes that go through ni

being seen as a boost for both psa which owns peugeot citroen and- bell and fiat chrysler in order to help deal with the global downturn in the car industry. under pressure to reduce carbon emissions french finance minister has welcomed the deal is good news for the industry as a whole and france in particicular. this is very good news for the fririend's car industry because it will make it possible to create the fourth largest car industry in the world. with just over eight million vehicles to be produced each year. why is this always importance of quite simply. becaususe it allows financial leeway to invest in autonomous and electric vehicles a kick. finally some of the biggest names in silicon valley are joining forces to make your life at home a little bit easier. apple amazon and google have announced they'll be developing a common technology standard to make their smart home devices more compatiblble. essentially it means it should allow digital assistants like alexa and sciri communicate with connected devices even if they're not all from the same company. at charlie i think it

fiat chrysler and the parent company of peugeot have agreed on terms to create the fourth largest automaker and have not decided on a anymore. they say they will not be clo closing any plants. it came a day after ford announced it's creating 3,000 jobs in the detroit area investing more than a billion dollars to make trucks and suvs. >>> police have no suspects in the case of a missing mother and her baby. heidi broussard and her 3-week-old daughter haven't been seen since last thursday. the fbi has now joined the search for them. agents were knocking on doors last night at the apartment complex where broussard and the baby were last seen. her parents spoke with abc's marcus moore. >> i mean, we have hope. if you don't have hope, you don't have anything. >> there's no words. nothing you can say but just hug and love and hold on. >> authorities say broussard's fiance is not a person of interest in this case. >> it's being called a christmas miracle in florida. a young sister and her brother are back with their family this morning after they were missing for nearly three days. we're now learn

the chrysler and peugeot manufacturer p.s.a. group have announced that their boards have signed a binding deal to merge the 2 automakers the company said the new group will be led by p s a's c.e.o. carlos of r. s. the new company will be the world's 4th biggest auto company. protesters have gathered once again in india's capital delhi to challenge a new citizenship law the law provides a quicker path to indian citizenship for non muslim migrants from 3 neighboring countries the country's supreme court says it will hear challenges to the legislation in january. while the united nations has urged rich countries to do more to tackle the world wide refugee crisis speaking at the 1st global refugee forum in geneva the u.n. secretary general antonio terrace criticized what he called a hostile political environment for posing a threat to asylum seekers now one example of this can be seen in the west african country of the share of the recent increase the number of migrants going from africa to europe the e.u. moved to shut down some of

chrysler and peugeot getting together. peugeot stock up a fraction, chrysler fiat down a fraction.ding 3,000 jobs in the detroit area, that is detroit, michigan. plowing $1.4 billion into new trucks, suvs, money goes to michigan. battleground state. the president is there answering impeachment. it will be a big night. >>> now there is this, tesla considering cutting price of cars built in china, when might that happen, susan? susan: second half of next year. we're looking at 2020. they're looking to cut the price by 20%. that would make, model 3, starting price at 300,000. cut it by 20%, you're saving i don't know 40,000, something like that. you also get state subsidies. government will -- stuart: 300,000 what? >> 300,000 yuan, renminbi. i should have put that into local currency, can you put it into dollars? susan: 50,800. stuart: 20% off, night look at 40,000 bucks. susan: not 35,000 model 3 for everybody. stuart: that's true. susan: china has been doling out basically rebates for customers that buy these electric vehicles. so you get 24,000 renminbi back. stuart: stock is up on

of american automaker fiat chrysler joining up with p.s. a better known for their brands such as peugeot and citroen of course it's a french company this is for a few reasons that these 2 companies are merging together they hope that the merger will help them deal with the global industry needs at this point which include making more fuel efficient cars as well as making electric cars moving away from gasoline as well as the challenge of just simply that there's a downturn in car sales so putting these 2 forces together should give them a little bit more strength moving forward now the combined goal of the 2 companies is to sell 8 point $7000000.00 vehicles annually that's pretty much what they're doing now when you take the 2 companies and put them together they could have the capacity to build $14000000.00 cars but just under $9000000.00 mark is what they're looking at if they do manage to get that they will be the 4th largest automaker maker in the world after volkswagen toyota and renault nissan and now their marked advantages for this merger are as bent should 1st of all demanding a

peugeot getting back with the french government over there.we are this late in the year, this late in the m&a cycle, and still seeing prints. ink a phase one trade deal. buy moreeed to agricultural products and technology transfer pressure. joining us from washington is amy celico of albright stonebridge. she leads the firm's china team, and before that, was the director for china affairs . if i want to make a business decision in china, does my job get easier today, or is it still cloudy? amy: i think your job is going to get easier in january, perhaps. this is very good news that the u.s. and china announced, that they will make a phase one agreement. the devil is in the details, so they also said that they are still ironing out the final agreement, likely to be signed in january. for a ceo looking at this, the positive obviously is tariffs didn't go into effect on december 15. that is what the u.s. and chinese side had been threatening. that did not happen. there's been tension taken off the relationship. that's very positive. as far as wha

fiat chrysler and peugeot will combine to create the world's fourth largest automaker.o firms say the merger will create an industry leader focusing on sustainable mobility, the deal expected to close in 12 to 15 months. >> important deadlines here. are you still shopping for the holidays? >> yes. >> the clock is ticking to get your gifts delivered by christmas and the first night of hanukkah. the u.s. postal service expected to deliver roughly 16 billion cards, letters, and pack ands this holiday season. if you want to beat santa to get those gifts under the tree, here are the deadlines you need to know. you have until tomorrow to get your packages to the post office. tomorrow. fedex has a friday deadline for standard ground service. ups is giving you next monday, the 19th, for three-day select. are you shopping from amazon? today is the last day to order your gifts. you need more time? target is guaranteeing same-day delivery on christmas eve. you're not done? >> not done? i never started. i've never neglected christmas like 2019. amazon is my game. i'm going to apolo

who are the owners of peugeot in france have agreed to effect the $4000000000.00 tie up both companies have assured production line workers that no factory closures are planned at least $23.00 civilians have been killed in the latest round of russian attacks on rebel held areas of northwestern syria shelling in as strikes and have escalated in recent weeks president bashar al assad's government appears to be preparing for a ground offensive to secure the main highway linking the capital damascus with the northern city of aleppo. now a stray has experienced its hottest day on record the average temperature across the country on tuesday was nearly $41.00 degrees celsius and that record could be broken on wednesday as it's only the start of the southern hemisphere summer the fearing temperatures have made things worse for crews dealing with more than $100.00 bushfires in the eastern state of new south wales ship owners are proposing a $5000000000.00 fund to reception low emission fuels and keana engine designs the industry is under pressure from the united nations to haul of its c o 2 emi

the boards of fiat and peugeot maker psa group will create the fourth-largest carmaker. the new company will be led by psa's ceo. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. vonnie: thank you. lawmakers are debating on the house floor today before voting on two articles on the beach went later this evening. one article being abuse of power -- articles of impeachment later this evening. one article being abuse of power, the other being obstruction of congress. subscribers can watch the debate on live . this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. this is "bloomberg markets." let's check those markets with kailey leinz. kailey: there's not a lot of action today. looking at just marginal gains. the s&p higher by just a point right now. there's not a lot of risk factors for investors to be worried about at this point, but maybe there's not a lot of good news either, so we are now just in a holding pattern. it co

peugeot maker psa has received the backing of its most important shareholder for the plan to merge withe french government has signed off on the deal. the new company would be based in the netherlands, and headed by psa's ceo. ubs plans to restructure the unit that serves the bank's billionaire clients, the swiss lender's first sweeping changes under the new cohead of key wealth management. bloomberg has learned ubs would break apart the ultra high net worth unit and some less rich clients would be moved into the regional division. has agreed to buy rival oil producer felix energy. the price, about $200 billion of cash and stock. to expand inw wpx the permian basin. felix has about 1500 underdeveloped locations in the permian. that is your latest bloomberg business flash. coming up, we are speaking credit markets with bnp paribas global head of credit strategy viktor hjort as we come to the european close. this is bloomberg. ♪ vonnie: stocks start the week on the front foot in the wake of a phase i trade deal between the u.s. and china. we will speak with bnp paribas' global head of cre

maker psaler and zhou group have signed off on a merry -- and peugeot maker psa group led signed offa merger by psa's ceo. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. . . this is bloomberg. vonnie: thank you. goldman sachs kicking off 2020 its first-ever investor day after the new year. according to analyst mike mayo, it will shed light on what has often been a black box. he and other analysts will also want to hear about the company culture, which is changing rapidly. we are joined by mike mayo of wells fargo, and joining us is julie albright from the university of southern california. mayot to mention that mike is increasing his 2020 price to $280n goldman sachs from $240. let's ask you how come you got involved with julie working on this particular note? you are specifically looking at the culture inside goldman and how it is changing. mike: you can't be a bank analyst without being a part-time tech analyst, so i have my hoodie to reflect that. as it applies to go

. >> fiat peugeot is interesting we'll get to -- we're going to get to -- we're preparing some thingsterms of the trial. which is continuing this morning, charlie ergen yesterday and today. >> fca. >> only what we have seen this morning, they recut the deal in part to try to deal with the national security review that conceivably would take place here in the united states. >> right, right. >> it is going to create the merger of fiat and chrysler and peugeot, one of the largest auto companies in the world >> and successful. >> you think so? >> i think so, yeah. >> a lot of costs can come out. >> yes. >> not about layoffs, but just costs. >> the layoffs story is rather amazing. the railroad layoff story, deet mand for layoffs by the analysts for fedex, the notion that industrial america and industrial world is not doing that well with the exception of one of the great stories, possible resurgence in europe. >> yeah, you have been talking a bit about what you think is a resurgence in europe if we do get or i guess we have gotten phase one of the trade deal, can we -- hasn't been signed y

the tie—up between fiat chrysler and peugeot will create the world's fourth—largest carmaker sellingater in the programme we will see exactly what they are capable of, so expect a bit more of this... we have some dense fog patches around this morning, and also some icy patches to watch out for. generally speaking, the east brighter than the west, the west seeing rain and strengthening wind. more in 15 minutes. it's wednesday the 18th of december. our top story... hundreds of thousands of people are facing a wait of months to have their faulty and potentially dangerous washing machines replaced. whirlpool recalled half a million appliances yesterday because of a fire risk, but customers are struggling to get information because of problems with its website. the company was already dealing with problems with its dryers, as dan johnson reports. more than 500,000 of these washers are at risk of sparking a fire if a part in the door lock overheats. it's happened to 79 indesit and hotpoint machines already. that prompted a clear warning to customers. it's a serious situation, and we're enc

. >>> two of the world's leading carmakers will combine, fiat chrysler and peugeot.enues of nearly 1$109 billion. the deal is expected to close in 12 to 15 months. >>> all right. are you still shopping for the holidays because the clock is ticking to get your gifts delivered by christmas and the first night of hanukkah. so the u.s. postal service expects to deliver roughly 16 billion cards, letters, and packages. if you want to beat santa to get the packages under the tree, here are the deadlines you need to know. you have until thursday to get your package to the post office, thursday. fedex has a friday deadline for standard ground service. ups is giving you until next monday, the 19th, but that's for three-day select. shopping by amazon? today is the last day to get your gifts in time for christmas. need a little more time? target is guaranteeing delivery by christmas eve if customers order by friday. >> you're making me really stressed out. >> you can do it, check it twice, and go online. >> may this be an apology to my loved ones. your christmas presents will ar

fiat chrysler and rival psa group, owner of peugeot and vauxhall, have confirmed a £308 billion mergerd technologies, will create the world's fourth—largest carmaker. the uk's inflation rate held steady at 1.5% in november, that's according to the office for national statistics. that is the same rate of inflation as in october. i'll have more on this injust a moment. so the latest monthly inflation figuers have held steady at a three—year low. after three consecutive lower—than—expected readings for the headline consumer price index, today's announcement represents a small win for the economy and has seen a small move higher in the pound. so what everyday items were the statisticians looking at? well, there were price rises across a variety of goods and services such as chocolate, concert tickets and package holidays, offset by falling clothes and hotel costs, and cigarette prices rising substantially slower than this time last year. victoria clarke is a uk economist at investec. victoria, always good to talk to you. that 1.5% inflation figure slightly better than many analysts we re s

peugeot shares higher, chrysler shares lower. this was announced in october. we're crossing the ts, dotting the is. fedex hurt by amazon. battering disappointment on top and bottom line. the company fourth time this year saying we'll disappoint in the future. six analysts reducing price targets on fedex. many of them saying they just are desperate to see this company make the turn to logistics in a way where they can deliver the last mile. fascinating there. amazon it was a great customer of fedex. now it's a great rival. finally amazon, regional carrier called sun country. this is minnesota airline basically will hire 70 pilots to fly amazon branded jets that will deliver goods, not people. they have a six-year deal. amazon owns everything. we'll have to get used to it, melissa. melissa: gerri, very cool. thank you. jonathan is back with us. jonathan, this is what is beautiful about the free market. amazon gets out there, they don't want to be a slave to the delivery because they need all this capacity. they're like, you know what? we'll get our own jets. we'

peugeot signed a merger deal today to form the world's 4th largest automaker. company will produce more than 8.5 million cars a year, with revenues of nearly $190 billion. the companies said they plan to invest more in low-emissions and new driving technologies. and, on wall street, thejo s industrial average lost 27 points to close at 28,239. the nasdaq rose four points, but, the s&p 500 slipped one point. r:ill to come on the newsh on the ground in california, where democratic voters are getting a close lo at the candidates. a breakthrough treatment forin spinal corries offers results once considered impossible. and, students from around the country she their questions for the candidates in tomorrow's decratic debate. >> yang: california is the nation's most populous state, and with more an 400 delegates at stake, it's a major prize in the democratic presidential primary. this year, state officials havet moved upg, to march 3-- super tuesday. sy traveled to southernstephanie california to hear what voters have to say about the state of play. >> reporter: arou

peugeot and fiat chrysler had a binding deal >>> markets making more gains yesterday and a little bition. the dow in the longest winning streak in three months and futures this morning up about 25, 26 on the dow. the s&p is positive again. up about a point nasdaq up just about 9 and we know that today is the impeachment vote it will be had in the house of representatives. joining us to talk market strategy in the last few trading days on the decade, charlie mcelligott and cnbc markets commentator mike santoli so impeachment is today. market's been trading a series of new highs how do you -- what's the calculus there what is happening? why is it such a knee-jerk reaction in the markets? >> i think the simple acknowledgment where it stands from the senate perspective, it's another historical footnote it doesn't impact the transition we've seen from the start of 2019 story which was this fear of the end of cycle trade metastasizing into a recession because of the china twrard drar dynamic. now it's repricing of growth higher into a much more optimistic outlook into 2020 that's where the

maybe that was the trade—off with the french government that peugeot had to make when they agreed thisos. and they are going to be the fourth largest global car—maker and yet the bestselling suv provider in europe and those suvs are pushing climate emissions up quite considerably so they're going to be pushing into much increased climate targets over the course of the next two years. that will be a challenge for them. it is and it is a whole other discussion. good to talk to you as ever. cmc markets. that is where he is from. ftse100 having an uptake. the pound slumped against both the dollar and the euro. thank you very much. you are watching afternoon live. now it is time for a look at the weather with matt taylor. it is a day of weather change across the uk compared to the chilly conditions we have had this week. quite a bit of sunshine as we saw in county durham earlier. this is what is coming your way, some grey, wet and windy conditions. notice the white horses on the sea behind me in cornwall. it is linked to this weather system here. ahead of it we have dense fog across parts o