latestup, sainsbury's strategy. we will talk to alan higgins about sainsbury's. ♪ >> you are very welcome back to "countdown." a german privacy regulator has ordered google to limit how it combines your date is a. -- combines user data. ordered to he was modify its privacy policies. users can determine how the data is used. toy will spin off paypal create two separate companies. the move comes as consumers step smart phones. in independent paypal could be worth as much as $47 billion. it would be able to make more alliances with retailers and others. yahoo!'sing to access website. the government sought to restrict information amid protests in hong kong. it was inaccessible for some parts of the country. >> just getting some breaking news from the finance minister in france on the french budget. are, the budget deficit will be four point will year.% of gdp this 4.3% in 2015. no signs they will push it below 3% in the next couple of years. the newspaper said the goal will only be reached in 2017. but the finance ministry will cut spending by 21 billion euros in 201

sainsbury's and tesco. sainsbury's a little higher after sales are less worse than people anticipated. up by .5%. said down .1% as the sta they have commenced their investigation into the overstatement of profit. we are looking at adidas shares up by over 4% on the back of the news there will be a share buyback. we are looking at france and a budget deficit target. when will it get to 3%? we will talk about that later. ♪ >> welcome back to "on the move ." i am jonathan ferro live from london. we stream on everything. let's bring in james bevan. james, the last 24 hours, news from italy and france. italy cutting their growth forecast. the french cutting their budget deficit forecast, pushing that 3% target out to 2017. ecb meets.d, the what can draghi do? >> he can talk about buying high-yield from greece and cyprus. you might think, what is this about? the challenge of europe is essentially one of demand of efficiency. if you were to look at the current balances for window, what is going on in the economy,

sainsbury's driving distance down by 4%.h quarterly sales numbers that beat estimates. like for like sales slipped by 2.8%. the analysts call, the dividends on a full sale review. sales were not return to growth this year. the numbers here today -- the numbers your today, sainsbury's down almost 30 5%. tesco approaching losses of almost 50%. euro land, euro dropping through 1.26, down by .2%. data at aufacturing big disappointment. as we haven't seen since june ractionont territory. witness across the eurozone. ness across the eurozone. money going into everything. spanish yields lower. when he pulled up, down 3 basis points. approaching 2% on the spanish ten year. the french kicking back their italiansficit target, reevaluating growth. everybody looking for the ecb to do more. bund auction, do we have the results? >> not yet. see if we will get below the 1%. >> big data. >> off to italy tomorrow. down to the pizza capital of europe. a big day for the ecb. what happens next? will the bundesbank pushed back? in the meantime,

let's start with the sainsbury results. all the big players over the last three or four years, they've done quite well. is that positively behind us? >> sainsbury has been the darling of the super market sector for a long time. but i think they are no longer insulated from the discount threat, from the structural changes that we're seeing in the markets. these results in terms of like-for-like sales were better than expected. i think what was a concern for me is sales are expected to be in decline for the second half of the year whereas before they were expecting them to be flat. >> and we mentioned tesco shares. tech has had a much, much worse years than sainsbury and yet both of them have sold off significantly over the last 12 months and year-to-date. >> they no longer stand for quality or value. when you look at tesco, their whole proposition, the reason why they became the largest retailer in the uk is because they've been all things to all people. but now there's so many choice on high street. you have discounters, va

. >> there is still bad news to tesco.r sainsbury's and that is because their attempts to redefine themselves are very expensive erie at at some point they will question deliveries, how much it costs to make each delivery. we will also question how much the property is worth. >> parallels between france and tesco. as we head to the break, easyjet shares have been riding high. we will discuss how the low-cost carrier is benefiting from the rival problems and why 5 million pounds is the number easyjet may be taking air france four. >> welcome back. easyjet profit rises at least 20%. we saw traffic -- the carrier saw traffic surging. our reporter followed this every step of the way. let's start with the numbers from easyjet. the takeaway for you? >> it was overlooked -- over 570 million. increase. they saw a big increase. that is positive. increase.on pound >> they added seats, and that boosted revenue 5 million pounds. boost tositive september. >> i wonder if that is a one-off boost area do if you are a business traveler, you tend to stick with your airline. you wonder if those go back to air f

it was only last week my wife was saying to my about oil prices in sainsbury and she was very excited about that. she can only understand what it's doing in the states. they're enter a cold time of year for the united states. that's generally when oil prices do start to pick up. plus, a lot of these oil price res stuck with cash. plus, when you've got something like a schlumberger, fantastic company, huge, free cash flow and guided to lower oil prices. >> but if we focus on a drop in the price of oil, at what point does that become a deflationary risk for the consumer? >> that is a fair point. bond yields are where we are. but the point i made earlier, europe i think will basically skirt a recession. the u.s. continues to do well. i think that will underpin oil prices. i personally don't see deflation myself. >> we'll continue to watch the price of oil. another thing we'll be focused on is earnings. visa and kraft foods among the names of investors reporting. tomorrow we'll look to gopro, conco philips and linkedin. >>> friday we'll see results from exxon mobil, chevron, abbvie. you c

they have to cut prices to be able to get out of sainsbury's league and start to compete. 20% more staffs what they want. that is going to cost half a billion pounds. jets thathe corporate they currently have but they need to realize they are not going to be as profitable. if they are going to change this , and significant reengineering is needed, they need time and money. what about possible spinoffs? >> it has been in a lot of the front pages of the u.k. press today. will they sell their asian business? there asian business is about 17% of their overall sales. many feel they can sell those sorts of units. will they be selling off the makers of their club cards? they could sell off a marketing company. many people were talking about that particular selloff. at the moment, no clarity. what dave lewis has promised is that everything is up for grabs. everything is being discussed and anything could be up for sale. just trying to reclaim growth. this is a company that had a short-term crisis. the immediate crisis of the hasn't been done appropriately for several periods. how far back does t

but, in the month of september, which is obviously just one month it outperforms sainsbury, morrisons and it's comfort, but -- >> >> it's a very profitable business career in thailand, might they decide to get rid of those, focus on the core, or is this a continuation of small changes around the edges? >> i don't think we're going to see any massive returns. i don't think we're going to see a massive uturn in strategy. it was one to re-establish the uk core, which i don't think any of us could argue with. the second to shore up the balance sheet and the third was to restore trust in the brand. >> i think they said this morning it's never been so bad for tesco. what's it going to do first? is it a rights issue, is it a sell-off of asia, what is it? >> the one thing it has done, and we knew this before, they had a look at capital expenditure. they have a plan to refurbish all the stores. they kind of held back on that now so there's a sort of 400 million they've got up by their sleeve. i don't expect, you know -- i mean, dave lewis made very clear that he's not -- the overseas markets a