ross westgate is joining us. he's down there, you know, ross, putting questions, i guess, to people about just how much the british budget is actually going to help growth. there were lots of measures that seemed aimed at pleasing people, everything from a penny off a pint to more help from home buyers we should say that seems to basically look like a trend for builders. >> yeah. because the idea is it's for new homes so the sort is that home builders will gld more homes and there's more people willing to buy them. some think we're back to where bill clinton was with his homes and then the subsequent bust. the chancellor has acknowledged we need private sector generated growth if we're going to get anything going and that's the way to deal with the deficits, of course. and there were some measures there. no national insurance payments for employees for the first few thousand pounds reducing corporation tax earlier to 20%. infrastructure spending, could it be more? businesses would always want more. but there was

i'm ross westgate. here are your headlines. the a relief rally for european stocks. banks leading the indices higher after cyprus strikes a last-minute deal but the euro is already losing steam on the bounce. they've agreed to wind down the second biggest bank and the move won't go down well in moscow. >> the russians were understandably disappointed with this turn of events. this has come partly as a shock. >> and michael dell's bid for the pcmaker could be in jeopardy. carl ikahn and microsoft are rivaling offers. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> all right. welcome to the start of a new weeks here on "worldwide exchange." kelly is not here. she's been doing an all-nighter in brussels. i think she was working. yes, they have been discussing cyprus. they've secured ads 10 billion euro bailout package after a long night of tacks in the belgium capital with international lenders. laiki bank will be wound down. uninsured deposits great

this morning, ross westgate is away. we also have a one-hour show for the next three weeks because of a troublesome time change in the u.s. which means that we'll do our best to bring you all the news in this tight space. the fourth quarter figures for italy's gdp is just out. contraction of 0.9% on the quarter. that was roughly what was forecast, leaving the year on year levels slightly weaker at minus 2.8% versus minus 2.7% preliminarily. not a pretty set of figures for italy. contraction almost 11%. nevertheless, it is pretty much as expected. you can see not a major move in the euro/dollar there. hans rhettiker pointing out it should be 1.50 for italy. italy's five-star movement says it is ready to leave a government, but the anti-establishment group headed by comedian beppe grillo has once reiterated it is not willing to accept a coalition with another party unless it's willing to accept the 20-point plan. georgia nepolitano is ready to begin forming a coalition and meets with the party leaders next week. yes, the i

we want to get more thoughts from you and we'll hear from ross westgate ahead of the u.k.udget release. what do we expect from george osbourne now on twitter by the way? stay tuned. we'll also leave you with a look at how futures are trading ahead of the open on wall street and they are reflect what's happening inside cyprus and russia today. 50 points almost for the dow. we'll be right back. >>> welcome back >>> welcome back to "worldwide exchange." cyprus pinning hopes on russia. the finance minister says talks are constructive and tells cnbc he will not leave until an agreement is reached. >> how long will discussions last for? rest of today? >> for as long as it takes. we'll be here until we get some agreement. >> and this after lawmakers reject the terms of a european bailout by voting against bank deposit tax and sterling trading lower as the u.k. chancellor george osbourne gets ready to set out this year's budget. he'll direct government spending to invest in the economy and deutsche bank lowers its earnings on mortgage related lawsuits and regulatory investigations

i'm ross westgate. >> and i'm kelly evans. these are your headlines from around the world. >> beijing steps up social spending in its latest budget in the bid to boost living standards and build out china's domestic economy. >> europe agrees to an anti-money laundering audit of its banks. but the finance minister says the originalin borders on racism. >> for us, a depositor is a depositor. it does not matter where they come from. >>> a 10% decline in car registrations in february over-shadowed the auto show in geneva. plus, hammer jeanie showcases the 4.5 million -- that is a cool looking car. >> standard chartered sets this dividend on the back of pretax profit earnings. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>> february pmi, 47.9. 47.3 was the flash. it's still lower than the 48.6 in january but the pick up from the flash, the employment index 46.5, 46.3 was the flash. the final composite pmi, 47.9. >> both germany and france contributed to the higher revision.

i'm ross westgate. >> and i'm kelly evans. these are your headlines from around the world. >> washington and wall street brace as the deadline to pass the sequester passes. president obama holds budget talks at the white house today, but the odds are pretty low on a deal. >>> chinese factories fall to an all-time low. >>> and european equities begin the month trying to inch their way into the green after all three major u.s. indices end at a february high. the dow coming in within 16 points. >> you're watching "worldwide exchange," bringing you business news from around the globe. >> all right. welcome to the last show of the week. plenty to do today, as well. >> the first show of march and we know what happens on the first day of the month. it's our favorite day or at least mine. open, that's why. it's the pmi figures around the world, frankly. europe, by the way, came in after the flash at 47 i think point 9 versus 47.8 flash. that's just in line with what we saw in january. some interesting things happening with the compone

i'm ross westgate. >> i'm kelly evans. these are your headlines from around the world -- >> the bulls are on the run. the dow hits an all-time high 164,286, surpassing the 2007 record. >>> telecom lead the beltway in europe with vodafone up more than 5% on report it could be eyeing a full merger with or sale to wireless giant verizon. >>> venezuela mourns the death of president hugo chavez as the rest of the world eyes the future of the country's leadership and its vast oil reserves. >>> one hour into the trading day in europe, fresh record highs on the dow. european stocks are looking for a softer start as you see. we're weighted to the upside 7-3. advancers outpace decliners on the dow jones 600. trading at multiyear highs and pushing higher this morning. the ftse 6,448. consolidated the move, up .25 as you see. looking ahead to the bank of england tomorrow. xetera dax up nearly 1%. the ibex up .had%. the -- .4%, the mib up.1%. as far as bond markets, interesting moves again on italian bond yield, 4.67%. spanish bund yie

. >> we have ross westgate in london. ross. >> hi, andrea. it's on really cold. >> we're weighted to the upside, not by much. six to four, advancers outpacing decliners. you can see we started a little bit softer. we've gradually tried to crawl away at the upside session. with easter coming and all the markets closed on friday, the u.s. markets, are, as well, just to recap where we stand right now, the ftse 100 is just above the flat line. up 7 points, 22 points higher on the xetra dax. the ftse mib fairly flat, as well. we have got five and ten-year auctions coming out of italy in the next couple of days. we'll keep our eye owes that. there are two corporates worth looking at today in terms of a report. the first one, this is a building supplier and plumbing company has over 50% of its revenues from the united states. the reason the stock is down is because they had a 20% fall in pretax profit. the weakness, as you might expect, coming from europe. very weak housing in europe and a lot of price pressure in the uk, as well. what they have to

i'm kelly evans been. >> and i'm ross westgate. here are your headlines from around the world. >> hsbc shares are lower after the banking giant misses full year expectations of $20 billion. it does, though, lift its yearly dividend. >>> china's mainland markets knock off balance. real estate stocks tumbling. >>> and the battle line res drawn in washington after the sequester goes into effect this weekend. for now, the white house and republicans are capitol hill aren't giving any ground. >>> executive pay is in focus across europe. swiss voters overwhelmingly back plans to give mra shareholders control over bonuses. >> announcer: you're watching "worldwide exchange" bringing you business news from around the globe. >>> so is this the week the dow jones industrial average will finally reclaim its nominal 2007 highs? this is, of course, the question. maybe we can ask warren about it. becky quick will be speaking to him coming up in just about an hour's time on cnbc. >>> the dow jones industrial average this morning is going to make t

i'm ross westgate. this is "worldwide exchange." here are your headlines from around the world. on the cyprus bailout emerged. the finance minister saying the bank deposits above 100,000 euros could be this the region of 40%. banks will reopen on thursday. stocks try to recover tr being disciplined. the head of the euro group backtracking after his comments regarding the cyprus template sent markets into a tailspin. >>> and there's no place like home. fresh data out today on u.s. hope prices could show the sector continue to claw its way back to recovery. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> if you just joined us stateside, good morning. welcome to your global trading day. we see markets bowing 4% off 3 0.3. you can see it's slightly called higher at the moment. currently called up some 43 points or so. the european stocks, we had gains around 0.75% of the ftse yesterday. 1% for the xetra dax. that translates into these kind of prices across the board. not having a good day, weak results. the xetra dax is up 0.3

ross westgate is away, but bill blaine is here to help me through the program. first, straight to the news. >>> capital controls are expected to be in place within the hour in cyprus, this paving the way for banks on the island to reopen tomorrow. cypriot bank workers have taken to the streets amid worries about job losses and ongoing confusion about the extent of the hit to uninsured depositors. the country's finance minister, nicholas sarris, says capital controls should help restore balance to the financial system. >> we believe that some sort of capital controls that will moderate whatever outflows are bound to happen will restore confidence and they will be removed in a relatively short period of time in agreement with, as i say, the general rules of the eurozone and the european union. >> well, first of all, the rules seem to be made up as they go. secondly, a relatively short period of time? bill blaine is here, senior fixed income broker. >> good morning. >> iceland capital controls for five years now? >> yeah. and the last time the uk had capital contro

ross westgate is standing by in london. ross, you've seen plenty there, as well. >> yeah. and look, when we looked at the gains we got at the moment, we pretty much clawed back most of the losses we saw last week. the ftse 100 down 1.5%. the xetra dax was down 0.8% and now it's up 1.3%. we probably shouldn't get big gains. the ibex up 1.2%. the ftse mib, up about 0.3% at the moment. we had an auction result, as well, from italy. banks as you might expect have been the biggest component of -- contributor to the rises this morning. the likes of bnp paribas up 3%. deutsche bank up 2%. unicredit, up about 2.4%. what it has done, of course, is highlighted the crisis management kelly was talking about this and how that seems to be getting worse and that basically austerity is still very much in tune. now, people think about where does this leave italy? bersani was given permission by the italian president late on friday to try and form a government. we'll be watching events this week. it may be a fairly tall order on. we did get an auction out of italy. yields higher, 1.74%. 1.6

ross westgate is headed to italy where he'll join us with the latest on what he's hearing from the minds meeting down in the forum there. on today's program, it's not just about central banks. we'll meet with standard bank's ceo. he joins us from johannesburg after stepping down as the banks arrive in full you're profits. we'll speak to the former venezuelan government after the death of hugo chavez. we'll head to new york and get you the latest on u.s. banks before the federal reserve releases the annual stress test results. >>> and the european central banks, yes, it's expected to keep rates on hold at 0775% today. ecb president mario draghi isn't expected to unveil any new information today. carolin roth is in frankfurt. carolin, what is the gossip there? what are people expected today? >> i think by and large, they're expecting that mr. draghi will be more dovish, he will point at some easing in the future, but it would be premature to believe that the ecb is going to be cutting rates from its record low of 3.11% today. why is that? a couple reasons. first of all, we haven't had a wa

he was one of the great 36 -- >> i think he was interviewing with ross westgate this morning. >> in that great insider piece, they call them buffoons and idiots -- >> they call the rally the idiotmaker. >> and i said why don't we do that and go back and get the archives of all the people that have been wrong here? and i said, because we would have no more guests. it will be the three of us talking for three hours a day. did you see the names on that list? >> i did. >> but you one that you just mentioned, he was at 6.66. we're going much neither down on the s&p. it's 15,4 44. think about being negative. why would anyone listen to anything he says at this point? it's sad. and throw the other 35 in there, too. if you haven't seen it, business insider. it's a list of idiots. >> it's a list of people the rally has made look like idiots that have been wrong. >> what did i say? >> you said it's a list of idiots. >> and what did you say? >> i said a list of people who have been made to look like idiots -- >> so they may not be, but they're made to look like -- they look like idiots until next ti