debt of publicis. and they are not planning to sell shares for acquisition. also, disappointment when it comes to synergy, 50 million euros in and yule cost savings. that's very limited when you compare this to the rough news the new company would have, $8 billion per euro is explained. this is trading lower today. >> stephan, thank you very much. still with us is paul cabner. let's dive in on this publicis deal, what do you think of the deal? >> they are playing catch-up and the media world is transitioning much better than the big players moving their business models. we have seen with the likes of wpp they have hit the digital space early and succeeded in a result of revenue growth at the moment. there's a big mismatch in where money is being spent at the moment and where the eyeballs are turning to. it's quite clear that mobile advertising, for example, is seeing more of the eyeballs but less of the spend. and that is moving. but if your business model such as publicis is mismatched, then they have

. -- publicis. they are taking over sapient.rtin sorrell of calling at the rebound transaction. competitor.e is a publicistail is that already gets 50% of its revenue from digital. i found it interesting that have already crossed that threshold. the second. sir martin sorrell -- if this world's biggest advertising agency? sapient in and field to $7 billion cash in a for $3.7n a deal billion. i cannot say how much the bank the bank-- enough how of japan stunned markets with their decision. the japanese economic experiment is a failure and fridays experiment won't fix it. you are one of the great voices and it. how desperate is mr. abe? to deliverying inflation that he cannot possibly deliver. quantitative easing cannot change things. >> i look at the relationship of napanese yen to the korean yua and it breaks out to new korean strength. that is not good for hyundai, is it? >> no, it is not. japanese exporters become a little but more competitive. but japan is not the biggest now.ter right they're using workforce, they are losing

it is for publicis. not the big one. is next. ♪ >> welcome back to "on the move. " it is time to talk publicis. rick david joins us. let's start with the important stuff, what are they buying? >> they are saying the deal will help them become a leader in the digital ad space. we have been hearing that the dev been looking for a new target to help them get over that. and the sharesst -- we got to the forecast and the shares have been down. they were hoping it would get them to move more into digital. >> they are buying sapien. how does it stack up? the largestreplace advertising agency in the world. they are saying even though we will be the largest digital, it is not the same away. , we believe the ceo was talking how it was makes a lotow it more sense for them. >> room for david, i know you will talk about on the net show david, iid, -- ruth know you will talk about on the next show, "on the pulse the bank -- pulse." ♪ >> deal for digital. the debate as germany ways the exit. the issue puts businesses at risk. space.'s

will there be another acquisition by publicis because they are lagging behind?> there's another interesting question in addition which is whether we see long-term consolidation and in the ad space itself among the big advertising holding companies? there's a lot of tart -- and there's a lot of talk after omni and perhaps they will try to merge with interpublic in the u.s. and one in japan that has done their deal and they are still out there is another big ad agency. there are two questions. who among the large players could be acquired? big holding companies in which there are four or five going to say stable? most people say the answer in both could is probably, we will see some of those activities picking up as it becomes more critical to build scale and the technological platform. >> more to come from publicis? now. not for it was a lot of money even for big company. we are on legacy number cointreau and maybe we will get a legacy number six. >> and seven and eight. matt campbell and neck nick hungerford. chinese surfaces data shows signs of a slowdown. the

the world's third largest advertising advertising, france's publicis is snapping up sapient for $3.7 billion in cash. shares of sapient shot up 42% today on that news. >>> in another merger announced today labcorp, a major provider of health care diagnostic services, is buying covance which conducts clinical drug trials. it's a cash and stock deal valued at more than $6 billion. labcorp shares fell but covance shot up 26%. >>> the u.s. says automakers fudged gas mileage numbers after a two-year probe by the u.s. justice department and the epa. south korean carmakers hyundai and kia agreed to pay a combined $300 million in penalties, a record amount, for overstating the fuel efficiency for more than a million vehicles. >>> honda might be in trouble. the automaker is being investigated by u.s. federal safety officials about whether its fail to report deaths and injuries related to faulty air bags made by japan's takata corporation. million of defective takata air bags have been recalled by several top automakers and now including honda. >>> falling gas prices and rising consumer confid

and also publicis is buying sapient for $3.7 billion.ng after the failed omnicom merger earlier this year. we'll see whether this impacts other companies. the other big question this morning, are investors ready to kick off another bull run? november historically the second-best performing month with an average return of just over 2%. dominic chu joins us on whether there will be thanks this month. >> what it come douns to, is those investors who like to play by numbers, they look over the long-term. they specialize in crunching these custom numbers and they looked over the past 20 years at the month of november specifically and every other month to see what the president return is over that span of 20 years. you can see here in november like you said, 2% on average return. that's second place only to the month of april which has nearly a 3% return. this is over the last 20 years. this is the number they came up with. in terms of batting average it's positive, 60% of the time november is positive. not only is it up 2% on average, but it'

there is also a lawyer who is advising them as part of the pro-democracy camp and he said publicy ins of order that he decided this was, the government could take matters into their hands and not leave it up to the courts. here is what he had to say. >> an individual can seek remedies for civil proceedings and it is very unusual. it is very odd. the only explanation is at the administration has lost its confidence because of a lack of authority and legitimacy to enforce the law against the company. >> rosalynn, will other sites be cleared? they have been taken out in another big protest area, in callaloo across the other side ,f the harbor -- in kowloon across the other side of the harbor. was taken out in a paper detailing court injunctions, we know action is coming soon but do not know exactly when that will happen. >> stay with bloomberg for a little bit more on the interview side. the news that matters. the billionaire who made his fortune betting on distressed assets. "the pulse.' that's where he will show up today. ask?at would you let us know what you think and what you don't

. >> publicis was unable to complete a deal. >> meantime, the journal says that apple will hold an investorall today ahead of a potential bond sale adding that the company is considering selling debt in euros for the first time. apple reportedly scheduled to launch a smart watch in the spring later than some originally anticipated. apple's retail chief addressed employees in a video message saying we're going into the holidays. we'll go into chinese new year and then a new watch launch coming in the spring. average yield, 1.2. >> i'm surprised -- i know there's been a lot of talk this was going to happen. this is just another apple beat going from being don't care about the stock to being we're going to buy in every share. we'll get cheap money. one of the few companies that looked at what the fed is doing and said other than verizon, we can just clean it up here. it's very additive. >> capital allocation is interesting. we've always talked about how they hit the bond market at a low when they sold -- >> maybe they're hitting a low in europe. >> verizon borrowed more money than any corporat