it is a takeover by sainsbury's in return for 42% of walmart stock. that is where it is.lse terminology to describe what is actually happening. he will understand that this is a, he may not believe it is to be a merger, but any legal definitions this is a merger that will be considered by the conditions and markets authority. —— competitions. clearly there will be changes in the business in the way it is run in order to make it efficient and to keep it running well into the future. the assurances that sainsbury's and asda have given us is that they will continue to run it as two separate businesses. although they say today there are no job losses, my concern is that once this is all forgotten about, in a year or so, then suddenly hundreds ofjobs will be lost. notjust in the stores but in the logistics centres and so on and so forth. supermarkets are powerful. as employers and along the supply chain. they must not be allowed to abuse that power. does the minister understand that this may be part of employees over an announcement that came out of the blue? and will he acted

it is not a merger, it is a takeover by sainsbury's.at off his chest, mark menzies lobbied for another type of employee. please focus, particularly on the jobs in distribution centres. many of them are in working areas of the country and it's the distribution centres that will be hammered a year or two years down the line if this measure goes ahead. supermarkets are powerful, as employers and along their supply chain. they must not be allowed to abuse that power. just so we are clear, mr speaker, suppliers will be squeezed, head offices will stay open and stores like that that in flynt will have an asda next to a sainsbury's will have both be open in two years' time. is that what the minister is saying from the companies today? if they believe it is anti—competitive and will lead to a worse deal for the consumer for those two supermarkets to stay open. and they have concerns about that, then they will force the sale to a competitor. the business minister, andrew griffiths. and now for a look at some of the other news from westminster in

sainsbury's have said the reason he was singing this comment yet recently been to see a musical, 42nden seeing something different! we have had lots of tweets, your most embarrassing moment at work. shirley says i was organising a surprise party for a work colleague and not taking them out of the carbon copy. we have all e—mailed somebody we should not have. sorry, surely, this is better than yours, and the viewer is a difficult client meeting at the office, i caught up with a colleague in the gents five minutes afterwards, to which he was openly and verbally critical of the client to me, flash, cubicle door opens, client steps out. hello! that is not a good moment. we have all kind of been there. this is on a global scale because everyone can see. moving on swiftly, this story about the founder and ceo of facebook, not facebook, whatsapp, i don't want to get a new rumour adds, zika burger is not going! this is the founder billionaire of whatsapp, the ceo, saying he is going. he has not said why, he said he wants to take some time out, the washington post thinks they have a reason? it

british evocate change sainsbury's has agreed to merge with wal-mart own the rival as i gather the two will become britain's biggest supermarket groups pulsing current market leader tesco and the passe that the city's generate will enable them to negotiate lower prices persons highly competitive grocery industry is undergoing rapid change german supermarkets like the idea needle and online joint amazon are destructing the country's supermarket business but analysts say the deal could face from regulators. and when people think about a holiday in the middle east egypt jordan dubai often all the first destinations that spring to mind now ultra conservative saudi arabia wants foreign visitors to consider the kingdom the country has an image problem so did up is funny for chas been to the port city of jeddah to see some of the initiatives being launched to get you to think differently about the country. a lot of history can be discovered in just a multicultural and diverse city in saudi arabia jeddah has always been a bit more open to change that other more conservative parts of the countr

stories on the sainsbury boss yesterday.the money. should we leave it there? leave it there? inappropriate song on a day asda and sainsbury tie up a £10 billion deal. sainsbury tie up a £10 billion deal. he said it was an unguarded moment. ifeel sorry for him. i feel sorry for him. that should not be all over the place. not be all over the place. he watched 42nd street last year and really enjoyed it. really enjoyed it. but it is just one of those... .. you are never alone with a microphone. as we very well no. be careful at all times. finding out what the deal means for suppliers. suppliers. latest news from the corridors of power in westminster. decsions affecting our lives happen at a much more local level. upforgrabs. why they matter. you throbbing with excitement? 0k, well, here are some pretty pictures. building in london. worth it for their own sake, i hope you agree. on election contests as far as the eye can see. with me extends beyond the horizon. urban election year. to defend this time. authorities than most of u

sainsbury while keeping a forty percent stake as well as selling a controlling stake in its brazilian business advent it to advent international wal-mart currently operates six hundred as the stores in the u.k. and four hundred sixty five wal-mart's in brazil. wage and salary news alphabet incorporated owner of google has announced the median pay for its workers the point where the wages of half the employees fall below while half half of the others make more it's reach one hundred ninety seven thousand dollars those figures make alphabet the four highest paying company out of three hundred ninety seven of the s. and p's five hundred firms that have already disclosed pastis to sticks as of last friday but still left alphabet alphabets median lag.

sainsbury while keeping a forty percent stake as well as selling a controlling stake in its brazilianbusiness advent it to advent international wal-mart currently operates six.

are concerned they could suffer when the two grocery chains join sainsburys boss mike coupe has said but industry bodies fear this will make life very difficult for smaller suppliers, who are already having to adapt to higher costs from auto—enrolment pensions and the living wage, as well as the weaker pound since the brexit vote. the bbc‘s ben thompson travelled to a farm in gloucestershire to meet one of the farmers who might be affected by the deal. welcome to gloucestershire. we are looking at that news yesterday, the boss of sainsbury is of course announcing they would cut prices pretty significantly announcing they would cut prices pretty sig nifica ntly after announcing they would cut prices pretty significantly after the merger with asda. but already concerned that it is suppliers who will be forced to bear the cost. suppliers like this place, a farm in gloucestershire. jennie, you supply asda and you have had a pretty good relationship with them up to now. you worried about what you heard yesterday? any farmer would be worried. we have had a very good relationship. it is goi

walmart doing a deal with sainsbury is, it was announced this time last week.nise the proposed merger. speaking to the today programme on radio 4 about some of the regulatory hurdles that could be a problem for that. japanese pharmaceutical firm ta keda has reached a $62 billion takeover agreement with its rival shire. that is the story that broke one and a half hours ago. the deal is the biggest overseas acquisition ever by a japanese company, and the largest deal in the sector since 2000. first, katie silver is in singapore. katie, thanks for joining katie, thanks forjoining us. it is a huge deal and it has been in the making for some time? you're right. it has taken five offers from the japanese company ta keda it has taken five offers from the japanese company takeda in about as many weeks. during this time shares have taken a hit, investors were worried they could not afford the deal. today was the deadline that was set when the last offer was made in late april, irish company shire has accepted. what is the final deal? they have accepted $30.33 cash for e

recently announced its decision to buy an indian e—commerce firm and struck a deal with british grocer sainsbury. investors will be looking for signs of what the walmart strategy is for the coming few months. joining us is simon derrick from the bank of new york mellon let's talk about specific markets, in particular of the malaysian market. last week we had a political earthquake in malaysia with the election of the 92—year—old prime minister, what sort of impact has that political change had on markets and currency? it's been mixed, this has been two weeks were emerging markets have been in the fray, the aftermath of the election we had the local stock market down sharply, the currency down sharply. there was a warning that they were concerned about some of the reforms suggested. the interesting bit is about what happened today, comments from the prime minister over the weekend saying don't worry too much, we won't be too aggressive with reforms. the market initially ignored it but then sentiment has improved thanks to donald trump who has seen the currency comeback, it shows you the power of

sainsbury while keeping a forty percent stake as well as selling a controlling stake in its brazilian business advent it to advent international wal-mart currently operates six hundred as the stores in the u.k. and four hundred sixty five wal-mart's in brazil. wage and salary news alphabet incorporated owner of google has announced the median pay for its workers the point where the wages of half the employees fall below while half half of the others make more it's reach one hundred ninety seven thousand dollars those figures make alphabet the four highest paying company out of three hundred ninety seven of the s. and p's five hundred firms that have already disclosed pastis to sticks as of last friday but still left alphabet alphabets media and lagging behind that of rival facebook where median pay is two hundred forty thousand dollars interestingly median pay at amazon which as you recall released an impressive earning statement last week legs well behind these companies that are often mentioned in the same context median pay at amazon was less than twenty nine thousand dollars or un

they sold their interests to j sainsbury taking a 42% stake in the company.y have a great business in canada. they are selling their brazilian operation. i think the ambitions for both these companies, they start in china where they got a late start and alibaba has conquered the landscape there and they are applying the lessons and bruises they experienced. >> softbank holds a stake in flip car. what happened to that? >> my understanding from the great reporting from my colleague is softbank, which doesn't like to be a passive investor, is selling their stake. i believe a $20 billion value is a profit. >> we touched on this earlier, but facebook -- bloomberg broke the news today -- is researching an ad free subscription model. talk to us more about what we know. is this a story or moving to a realistic initiative? >> there have been rumors for a long time that facebook would do that. i think the company itself was always quite resistant to the idea of charging for facebook. sheryl sandberg believes relevant aspect the service better. i think they have taken s

sectors, the retail sector, we had this big amounsment me amounsment -- announcement coming out of sainsbury'srday, what do you think it means for the rest of thegross e groce groceries and others in the sector >> i think we've seen size did not protect tesco against smaller players like lidl and aldi two, i think what people have been missing is that one of the main messages is actually walmart retreating from the uk market to fight amazon in the u.s. and managing digital transition i think this is a key message. what i see through this merger is a key message that technology is impacting every sector and every company. >> absolutely. thank you very much for joining us on "street signs" today >>> coming up, exemptions extended president trump gives europe another month to try to broker a trade deal, but will it be enough stay with us crohn's disease. you're more than just a bathroom disease. you're a life of unpredictable symptoms. crohn's, you've tried to own us. but now it's our turn to take control with stelara® stelara® works differently for adults with moderately to severely active crohn

side walmart is getting rid of its relationship with -- not rid of its relationship, but in the uk sainsburymbining freeing them up to do other things like with india and flipkart or a potential healthcare deal. there's so much going on in retail, so many moving parts, it will be interesting to see the haves who they team up with in the long-term. >> i would like to wrap up on that point about walmart in india. a lot of reports saying flipkart is in high demand by amazon and walmart. reports seem to suggest that the regulation hurdles would be lower for walmart. it is a big deal if it goes through. even if it's a majority stake, it's three, four times the size of jet why could india be important if you're a walmart investor, why do you need to watch this closely? >> it's a massive market it's the next big frontier for retailers. now that the market has opened up, and it's easier for foreign companies to come in and form relationships, it's important that big retailers get this right and team up with correct partners it sounds like amazon is increasingly going to go it air lone alone in india

british grocer sainsbury has agreed takeover terms with a sda, a walmart owned -- with walmart owningmbined entity. a lower percentage in terms of voting. >> this is not a takeover. this is a combination of two great businesses. the management team has made the best of both businesses. we will run two separate head offices and a dual rant strategy and the u.k. >> they have been saying there will be consolidation in retail. this was seen as a consolidation driver. but i think investors are thinking that this deal will go off well. but the big question is what does the regulators say? francine: a titanic merger in the u.s. oil industry. marathon has agreed to buy refiner endeavor for $23.3 billion. the new combined company would be the largest independent fuel maker in the u.s. what does it mean for the industry in general? >> you have two companies in different parts of the country , largely, and they are now the biggest refiner in the country. they have 15% of fuel making ability in the country. not only that, they both have large pipeline assets. so they are a real giant presence now

google, facebook, twitter, amazon, square, go daddy, tesco, sainsbury's, h&m, and many more are updating their policies to give consumers more control over their personal data. those updates and changes are thanks to a new law governing data privacy, called the the general data protection regulation, or gdpr. the catch is, gdpr only applies to people who live in the european union, but its adoption is largely expected to have americans asking, why don't we have that? here is how data collection currently works. when you sign up for, let's say, facebook, you have to click a box that agrees to the company's terms. those terms give facebook the right to track your online activity, even if you are not actively browsing facebook. facebook can let third parties access it in order to sell ads and services. nate: consumers will have the right to ask for copies of anything, as basic as messages sent to them or by them. >> that is bloomberg tech editor nate lanxon. nate: up to entire archives of all the content that they have generated on the service. >> on may 25, companies with more than 250 emp

so the coffee will be the same price in asda and sainsbury's?n the announcement was made. let's have a look, for those who don't remember. # we're in the money. # we're in the money. # let's spend it, meant it, rolling along. # we're in the money. # we're in the money. # this guy is sony. # this guy is sony. # let's landed, splendid, send it rolling along. —— the sky is sony. luke let's lend it, spend it. that must be so embarrassing to mediate in to watch?” that must be so embarrassing to mediate in to watch? i have apologised, it is one of those things. you can imagine i had a fairly stressful 36 hours, doing 11 interviews in 30 minutes is quite stressful. i don't think anybody would mind you singing, it was the choice of song. i am the first to recognise it was unfortunate, but i get lots of e—mails from customers who think two things, one is that it was pretty unreasonable of itv to show it because it was clearly fair, and secondly that in the vast majority of cases, they think it is quite amusing. —— it was clearly offer air. quite amusing.

less than a week ago the headlines were full of the proposed sainsbury—asda merger, so why are morrisons rachel reeves, chair of the business, energy and industrial strategy committee saying this merger threatens customer choice, hands more power to mighty supermarket players and puts more pressure on small and medium suppliers. the chair of the environment, food and rural affairs committee said the grocery code adjudicators 2017 survey said that asda was the worst grocery retailer in the eyes of its suppliers. very strong words from the cma, giving hope to tesco and morrisons. tesla are spending a lot of money, no sign of any profit yet. they had their worst quarterly loss from january down to march. bloomberg estimate they are burning through £5,000 a minute. why behind production schedule. shares felljust over 7% in new york so far this morning. we'll get more in a minute but back in the uk i want to mention pmi figures. it was the turn of services to date. any figure above 50 is seen as growth and the figure came in at 52.8 for april. but it was slower than expected. here to tell us

you guys talked about the sainsbury ceo saying i'm in the money thing.hat too >> that's true all right, dom have fun hit 'em straight >> he hates coming on with us, us outing him in this stuff. >> i know. >>> all right. when we come back, our guest host for the next hour, senator bob corker we will get his take on the iranian nuclear deal, the president's tariffs, and a lot more "squawk box" will be right back. us. it's what this country is made of. but right now, our bond is fraying. how do we get back to "us"? the y fills the gaps. and bridges our divides. donate to your local y today. because where there's a y, there's an us. >>> the tale of two tech companies. apple in rally mode after a beat the latest market moves and what to expect is straight ahead. >>> trade, geopolitics, and the state of the economy bob corker of tennessee is here for the hour >>> and the song that inspired generations. ♪ don't stop believen >> jonathan cain joins us to discuss his latest project as the second hour of "squawk box" begins right now. ♪ >>> live from the beating h

sainsbury while keeping a forty percent stake as well as selling a controlling stake in its brazilian business advent it to advent international wal-mart currently operates six hundred as the stores in the u.k. and four hundred sixty five wal-mart's in brazil. wage and salary news alphabet incorporated owner of google has announced the median pay for its workers the point where the wages of half the employees fall below while half half of the others make more it's reach one hundred ninety seven thousand dollars those figure. make alphabet the four highest paying company out of three hundred ninety seven of the s. and p's five hundred firms that have already disclosed pastis to sticks as of last friday but still left alphabet alphabets media and lagging behind that of rival facebook where median pay is two hundred forty thousand dollars interestingly median pay at amazon which as you recall released an impressive earning statement last week legs well behind these companies that are often mentioned in the same context median pay at amazon was less than twenty nine thousand dollars or un

within talking about sainsbury's but the petrol price, petrol at a 3— year high.h. you can see the chart, up, up, up. that is having a direct effect at the pump. the average 50 hyam —— 55— litre car, £68 to fill it up. people think the oil price could continue to go up the oil price could continue to go up you could see a bit more movement. it is notjust people filling up of the pump, its businesses and everything we buy that relies on oil. as the sun calls it, house of failures. we talked about the problems before that they have announced that major restructuring. stores will close around the country. if one of those closes in town, that is quite an impact. pep guardiola, gone into fa nta stically impact. pep guardiola, gone into fantastically glorious things in his career. he has been speaking about the late sir bobby robson. he says he really wants to play for newcastle and approached him and said, iwant newcastle and approached him and said, i want to play with you there. bobby robson said, thank you, but no thank you very much. wrote a lovely letter to say, s