they're saying the proposed sainsburys asda merger is going to be under review we heard from the sainsbury. they think they will come to the right answer for customers talking about benefits, cost reduction for consumers. it will be subject to review in other corporate news wpp the world's largest advertising giant reports revenue down 4%. and revenue fell 4% on currency headwinds, but the company reiterated its full year guidance and said it would focus on growth. the first sector results were published since martin sorrell stepped down i've got to ask you, this is the first set of results since sorrell stepped down how important is that going to be for the next quarterly results, do you think? >> yes, good morning i think this morning's message is really probably about steadying the ship and trying to demonstrate wpp isn't just all about martin sorrell despite he was a huge influence and personality. in underlying terms the message coming through is very much one of business as usual and very reassuring remarks perhaps adding the departure of martin sorrell. what we've seen is a very, ve

be sainsbury's and it will still be sainsbury's and it will still be as that.e the competition regulators get hold of it, i think they will probably tell them to get hold of some stores. if you have a town with a sainsbury's and an asda, it seems an obvious thing, not much competition. they will force them to sell one of them. i think, just before we move onto the next question, this is quite important. we have talked a lot in past about aldi and lidl, i think what they are thinking about moore is amazon. they are thinking about the eventual threat that will come from amazon. it is such a big beast. it is not in the grocery market yet. this is why sainsbury's is thinking about the acquisition strategy. it has argos and it has asda. it is about economy is of scale to compete with amazon. here's natalie berg, retail analyst at nbk retail — not very realistic. asda and sainsbury's have gone into this deal knowing there will be a significant numberof knowing there will be a significant number of store disposals if they get the green light from the cma. i do not thi

sainsbury's also up sharply this morning.ut a see how tesco trades. -- going to see how tesco trades. 70 minutes into the market opens. this is bloomberg. ♪ 14 minutes into the start of european cash trading. let's catch you up. petroleum plans to buy rival oil company and enough for $20 billion. the stock and cash offer values around a hundred $50 a share area did that's about a 23% premium over friday's closing price. the deal could create the largest independent fuel maker in the united states. it non-is extending its transformation by preparing to launch a dedicated cargo unit. the carrier has been revamping its lease. international companies such as samsung, lg electronics, and s play have turned it into a major manufacturing hub, producing southeast asia's fastest growth. for aare now accounting good percent of the transportation of samsung things. and things and then atorts, yes, we now look as well asrgo units the the just existence area did -- as well as the logistics systems. u.k. grocer will pay four point billion

is busy city all seem to do or sainsbury is busy city all seem todoa or sainsbury is busy city all seeme about this than we do, the staff at the two companies. this is a big story in the uk, isn't it? it is, because this is this process of how is the economy going to continue adapting to changes were seenin to continue adapting to changes were seen in the past few years. earlier we spoke about the cost pressures these companies face as food, clothing, electronics, a lot of the things they sell have become more expensive as the pound has weakened. at the same time it's still a competitive market. even though the market share may appear small, the german discount retailers like aldi and lidl are having a downward paul on prices and so i think as a group two and sainsbury are trying to adapt to that. how will it change the two supermarket brands, as it were? are you think customers will notice the difference, or not?” don't think we have insight on that yet and it will depend on how they maintain them, whether they are two separate brands trying to appeal to different segments of the marke

sainsbury's is now, as they say in the city, in play, asda is in play, people might start saying, we deal they are doing, and remember, there is a big qatari investment in sainsbury's. do they like the shape of this deal? it will keep the business pages busy for the rest of the week. turning to the observer, we are back with politics, and it's an amber rudd moment again for the london mayor. you know, in the old days, and we are old enough to remember, people actually resigned over this, or something like this. what this boils down to is that this is the home secretary not just anybody, the down to is that this is the home secretary notjust anybody, the home secretary, who has actually put uk citizens at risk, in terms of their citizenship and everything else, for the honour of the country and the honour of the office, she should have offered her resignation immediately. it isn't about turning around and saying, i didn't know this. this isn't some sort ofjob. that's your view, and that's also the view of the london mayor, and he changed his mind, because he wasn't asking for her resi

asda sainsbury almost at 16% each.er and their combined 2800 stores would hop over tesco into the top spot. but not everybody likes it. it makes no sense to me at all! to businesses that are on opposite poles of the market, as much as you try to bring those businesses together, you end up undermining both. it's already been shipped up by the merging of all and amazon is beefing up its process and the fresh food sector with one—hour deliveries. so this deal could be in anticipation of that happening. but it could yet falter, the competition and market could well say that cutting the number of supermarkets that consumers can choose from is not on. they could be ordered to sell of dozens if not hundreds of stores. joining me from wiltshire is retail analyst, julie palmer. would you make of this? good, bad, as it would go through? can you hear me? i can hear you now, it's sending shock waves through the industry. it is a merger of staggering proportions if you look at some of the numbers. potentially over 30% of grocery ma

businesses, and sainsbury can create a stronger business.n have better prices on the shelf, better for colleagues and suppliers, and for the sellers. anna: you say combining. you are taking over this business it seems in many cases. sda keeps the ceo. why does walmart want to maintain this 32% in the share group. kevin: they will be a major shareholder. we look forward to working with walmart. this is not a takeover, this is a combination of two great businesses and management teams will be made of the best of both businesses, and we will have two separate businesses. matt: doesn't that provide a little bit of confusion? aren't you going to want to have laser focus on giving the customer what it wants and making profits for the shareholder? have: we will absolutely laser focus on giving the customers what they want, you are absolutely right. , we have a very strong heritage have been in the u.k. market for decades, and have a loyal customer base. what this transaction will allow us to do is make an even better sainsbury's. and the cost of pr

andmary's -- sainsburys asda are teaming up to take on tesco. and a new space race bebetween billionaires. jeff bezos is trying to beat elon musk and out of this world tourism. first, our top story live from paris. former business minister sajid javid has been named britain's new home secretary. he will be tasked with moving on from the immigration scandal that brought down his predecessor, amber rudd, one of the prime minister's closest allies. we will talk more about this development. e, can the new interior minister move past the immigration scandal? benedicte: prime minister theresa may will want to put this scandal behind her. can she do so with the appointment of such a very -- cg job aid -- sajid javid? weeksl see in the coming and months. there is a history until about eight years ago -- there were six home secretaries in eight years under labor. it is a very big post that encompasses very many things. it deals with immigration, counterterrorism, knife crime, murders. it is a big brief. whoever is at the head of that has a big and comple

no, i think the customers will benefit, sainsbury said that prices will be reduced by about 10%, butsomebody has to pay for this price investment. sainsbury's said this morning that if you 5% of the products on their shelves come from just 100 zeballos, these are the large multinationals, procter and gamble, coca—cola, they will benefit by having additional volume by selling to both sainsbury's and asda, what of course there will be increased pressure to offer better prices. do you think the suppliers will be worried about this? will they be lobbying the cma... unquestionably they will be worried by the interesting thing was, prices were said to come down by 10%, what does he mean, in sainsbury's? are they going to line up? there are a lot of questions to answer in terms of price. they said they will keep the two businesses trading under the current brand name. if you are in charge, would you do that? is my opinion, over three years, four years, there will be one brand. one head office, lots ofjob losses, and then dart-mac the whole point is to say. i think this is all a bit right no

y have these three can you buy sainsbury's stuff in the stores?t consolidation will make them stronger. the one thing about retail, seen two big changes. one is brexit. challenges in terms of the fall of the pound. then you have the online retailers. they are leading this group of retailers saying how do we face this disruptive market where we hope that will strengthen us? vonnie: what about the short interest in the stocks? a lot of people would be caught off guard. point it wast one among the top 10 most shorted stocks. this morning, short sellers would not have had a good time for which is why the stock went up 20%. investors are backing this deal. short-sellers are looking for an exit. they always said sainsbury's and the likes of them would not be able to the discount retailers. the big question in on lines, what does this mean for morrison's? could amazon be looking at either of them? what analysts are saying, is there more consolidation ahead? >> that is absolutely a view. what does morrison's do next? and analyst reports said they could ma

difficult would that be for asda and sainsbury's to do?mpany would say, as does pretty strong in the north of england and scotla nd strong in the north of england and scotland and sainsbury's is pretty strong in the south of england. where there are overlaps, and of course there will be in certain bits, they will have to probably say we will have to shut this store, or sell this store where there are overla ps. sell this store where there are overlaps. as it may not be their choice. the competition and markets authority will make that decision. the really interesting stuff is how things are changing in this grocery business. the germans have arrived in the face of lidl and they are growing at exponential rates. and amazon, which is really adjusting, because they have destroyed so many traditional sectors and are looking seriously at the retail food, fresh food sector. they have done a tie—up with morrisons and have been sniffing around to buy one of the big players, supposedly, perhaps they will sniff more now. it is an intriguing prospect

let's talk about asda, sainsbury, what will this look like?e are expecting an announcement at around seven o'clock uk timelj think the big story is in industry, seen a lot of cross pressure because the grocery and other lines that they sell are exposed to price movement as a result of the falling pound over the past couple of years and trying to figure out what is the right organisation to the industry that companies can continue making healthy profit when customers want lower prices but a lot of the cost of going up. in terms of other supermarkets will work in the future we are obviously waiting for the details but it is thought that sainsbury and asda will remain their own brands, as it were, but in terms of the business side of it, behind it, walmart will have a small stake in the newlyformed company? my sense is the brand appeals to segments of the market and it can continue but i think there is a lot of logic in terms of for example sainsbury having more expertise at a lot of the online retail than asda does right now and if that is the d

sainsbury is an asda combined, about 30%. expect the regulators to get involved.b as losses. thank you very much. if you fancy yourjob as a journalist, that isa fancy yourjob as a journalist, that is a good test. give as the headlines. more details lieu, i promise. this bring you some other news this morning. eight people are being treated in hospital after a bus crash in glasgow. the single decker bus overturned at about seven o‘clock last night, on a slip road near the clyde tunnel. police scotland says one person is in a critical condition, two others are seriously hurt and five are stable. a vigil has been held for the 10 people killed when a van ran into pedestrians on a busy street in toronto last week. before the event, thousands of people took part in a walk of healing and solidarity following the route of the attack. prime ministerjustin trudeau attended alongside political and religious leaders. myanmar leader, aung san suu kyi, will meet with representatives from the united nations security council later today to discuss the treatment of the country‘s r

this is bbc news, our latest headlines: two of britain's biggest supermarkets, sainsbury's and asda,a legal battle over his treatment, has died. his father said on social media, my gladiator lay down his shield and gained his wings. cabinet colleagues rally round home secretary amber rudd as calls from labour to resign continue. she says she didn't see a memo copied to her office which detailed home office targets for deporting illegal immigrants.

an acquisition that could transform the supermarket business in the u k, sainsbury's k., sainsbury could in market share by acquiring asda. rising gas prices to the highest on record. gasolineat a time when futures are the highest since august. inventories are covering lower since january. danish electric vehicle sales fell dramatically after the government faced out subsidies. bloomberg spoke to the prime minister. >> we have a tax incentive for electric cars. you can discuss whether it should be bigger. i will not exclude that. today's paper is about the supply side so to speak. i have announced today that will summer break, we introduce a package on the demand side. a dedicated webpage that features the best reporting on transport from across the number news -- bloomberg news universe. tom: we are launching into a discussion that drives us to may 2 and the fed meeting. vasileios gkianakis with us of unicredit and christopher pissarides of the london school of economics. this is the real inflation-adjusted fed funds target rate. this is one of the indicators. speaking to the economic c

what a move in sainsbury shares today. agreeingand the u.s., to acquire spain, $20.65 billion in stock. why we care is because deutsche telekom is a majority holder and t-mobile. deutsche and softbank have been in talks for a long time about this deal. deutsche telekom will end up with a 42% ownership in softbank and the combined entity. softbank will have 27% but there are doubts whether this deal will get to the regulators and , uris vegas hotel operator agreed to pay $560 million -- 560 million swiss francs to acquire hotels and resorts for shareholders including a kingdom holding. by 1.9%. 90 minutes into the session in the u.s., abigail, how is it looking? abigail: the s&p 500 and the dow and the nasdaq all solidly higher. off the highs after with the declines last week in the first time we have seen that in three weeks. the bowl is bouncing back today. take a look at the dow transports, that average had been up .7% earlier the session, now down .3%. is that it fell on possible weakness ahead for the other major avera

as that is cheap and good value where as sainsbury's are trying to go higher end.wing the election for corbyn. i suppose some people might say that is not hugely surprising, but what is your view? we know the russians have been put it to —— have been politically active with cyber warfare and so on. time will tell. the sample is not enormous, it is a 20,000 tweets sample which is an afternoon for some of us. the united states has been going through the russians meddling or not meddling in the election. developing countries will argue this is happen to them for a long time and it's something that britain has the come to terms with. damian collins is running an interesting investigation with parliament into the regulation of fa ke parliament into the regulation of fake news and the regulation or lack thereof of social media companies, perturbing the chief culprit. —— twitter being the chief culprit. may facing cabinet revolt. this is the cabinet and brussels trying to fudge theissue cabinet and brussels trying to fudge the issue of the customs union. we won't be in th

the supermarket giants sainsburys and asda are in advanced talks about merging.ources say sainsbury‘s would buy its rival from its american owner, walmart. the two firms are the second and third largest supermarkets in the uk and, if combined, would overtake tesco in terms of market share. our business correspondent, joe lynam reports. they are two of the best—known brands in the uk, but now they want to merge into one company. the surprise announcement that asda and sainsbury‘s are tojoin up has shaken up the grocery market, and it may affect where and how we shop. in a statement, sainsbury‘s said that it confirms that it and walmart, that owns asda, are in advanced

what a move in sainsbury shares today. agreeingand the u.s., to acquire spain, $20.65 billion in stock. why we care is because deutsche telekom is a majority holder and t-mobile. deutsche and softbank have been in talks for a long time about this deal. deutsche telekom will end up with a 42% ownership in softbank and the combined entity. softbank will have 27% but there are doubts whether this deal will get to the regulators and , uris vegas hotel operator agreed to pay $560

sainsbury is all over the website, the construction and support services for an interservice reported million for the group, plenty more stories on the website, check us out online. you're watching business live — our top story... walmart is merging its uk operations asda with supermarket chain sainsbury‘s, it is a share and cash deal. walmart will gain a minority sta ke deal. walmart will gain a minority stake in the new company, 42% double receive $4 billion in cash with the deal if it goes through. a quick look at how markets are faring.... the home secretary in the uk amber rudd announced resignation late last night, not a rudd announced resignation late last night, nota big rudd announced resignation late last night, not a big reaction in pounds sterling, some thought it would have moved off the back of that is because it creates questions regarding the government and its policy with brexit and the make—up of the cabinet, keep an eye on that story. first let's go to the inside track story. as the digital online advertising market grows at breakneck speed, many traditional mediums

but also people who work for asda and sainsbury's?or the employees, customers and suppliers. for all of the reasons they are hoping to get large amounts of frost out of it is by getting rid of staff, they don't put it like that but that's an inevitable consequence. the competition inquiry has to focus on the customers, that's their job has to focus on the customers, that's theirjob and i think potentially that is very serious. what will happen, when you get a big out—of—town stores that has got a com plete out—of—town stores that has got a complete local monopoly, there will be many more of those once the group emerges. since we have you here let me ask you about the continuing pressure on the home secretary. a lot of calls for her to resign, what is your view and also this letter from 200 mps asking for the windrush promises that have been made by the government to be put into law, is that actually necessary?” government to be put into law, is that actually necessary? i would support it, it is a terrible episode. i don't think it was

british evocate change sainsbury's has agreed to merge with wal-mart own the rival to gather the two will become britain's biggest supermarket groups posting current market leader tesco and the passe that the citizens don't 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 giant 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 known just to get you to think differently about the country. a lot of history can be discovered in 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 c

. >>> walmart is selling the british groceescery asda to sainsbury. they will get a 32% steak in the company. it's creating joint ventures in competitive markets. walmart is trying to buy a controlling stake in india walmart is sharing so it can provide some competition where amazon is starting to get some penetrati penetration. >> amazon whole foods was a big deal in the u.k. groceries are a big market you have them and pesco and walmart is tapping local experts. 42% stake in the company will be a huge deal. >>> your fourth deal of merger monday, they're buying dct industrial trust for about $8.4 billion in stock this values dct shares up. they're the largest owner of distribution centers and logistics properties speaking of amazon they have a footprint in california, new jersey, atlanta and chicago. >>> let's talk more about the deal making picture right now. joining us is mark avalon. i have to say, mark,if you tak a look at the way moerge gers have been playing out, we've seen some blockbusters this year is this going to be what drives the next bu

they think asda and sainsbury ‘s could make a good fit together.up of migrants has reached the united states after travelling through mexico from central america in a caravan disparaged by the us president donald trump. some 200 people have arrived at the border near san diego — but organisers say the us authorities are refusing to process their asylum claims. our north america correspondent james cook sent this report from the us—mexico border. we are looking through the fence on the border between mexico and united states. we are looking through into america, where some people have gathered in support of the caravan of refugees who have made their way up through mexico, from central america, mostly from honduras, guatemala, and el salvador. people have gathered here, this is the mexican side of the border. there's a lot of supporters with them here as well. this is the very end of the fence that borders the united states and mexico. that's the pacific ocean, there. and what's been happening as they have been travelling up here for some time. peop

thinking we were going to be talking about sainsbury. nice stuff about korea.will come back as a story. now it's time for the film review. hello, and welcome to the film review on bbc news. to take us through this week's cinema releases is mark kermode. so, mark, what do we have this week? very interesting week. we have beast, a psychological thriller set on jersey. we have avengers: infinity war, the latest in the mcu series. and the wound, a coming—of—age movie with a difference. i love the sound of beast, i love a psychological thriller. it is set onjersey, it has a central performance byjessie buckley, who plays this young woman called moll, living under the thumb of her domineering mother, played by geraldine james, with a hint of anxiety, as if she is partly frightened of her daughter. anyway, our heroine meets this young man, played by johnny flynn, called pascal, a wild character, a vagabond, and immediately the family take against him. plus, the rest of the community are very suspicious of him, but she falls in love with him, and he sparks in a rebelli

the supermarket giants sainsburys and asda are in advanced talks about merging.es say sainsbury‘s would buy its rivalfrom its american owner, walmart. the two firms are the second and third largest supermarkets in the uk and, if combined, would overtake tesco in terms of market share. our business correspondent, joe lynam reports. they are two of the best—known brands in the uk, but now they want to merge into one company. the surprise announcement that asda and sainsbury‘s are tojoin up has shaken up the grocery market, and it may affect where and how we shop. in a statement, sainsbury‘s said that it confirms that it and walmart, which owns asda, are in advanced discussions regarding a combination of the sainsbury‘s and asda businesses. a further announcement will be made at 7am on monday. this whopper of a deal could certainly shake up britain's supermarket sector. at the moment, tesco is the biggest grocer in the uk with 28% of the market. asda and sainsbury‘s have almost 16% each. put them together and their combined 2800 stores would hop over tesco into the

and in britain a supermarket chain sainsbury's has agreed to merge with wal-mart own rival asda together at the two will become britain's biggest supermarket group surpassing current market leader tesco the pair say the synergies they will generate will enable them to negotiate lower prices britain's grocery industry is undergoing rapid change german budget supermarkets like aldi and legal are online and online giant amazon are disrupting the country's supermarket business well that's not all there they all all the stories that are keeping britain busy christopher are you have a high profile resignation today trying to have you have the british interior minister ambo rudd resigning for misleading polman to about targets for the removal of illegal immigrants rudd was viewed as a future prime minister in the u.k. she had been facing cold for her to step down for days pressure on her mounting because of outrage of the way british authorities had mistreated legal residents from the caribbean people from the so-called windrush generation came to britain off to world war two in the one nine hu

market share of 33% now and as a share of 28%, so actually you can see that suddenly had asda and sainsburywer share than tesco once had when it was one of the big four. so does not inconceivable that now, that the cma would rule it out and have said, as i've said to you, they have said, as i've said to you, they have set talk to us, we are not wedded to this any more. walmart in the uk, with a not a good fit? walmart has struggled with international expansion. they pulled out of places like germany and south korea. but, for sure, the growth of the discounters have really caused headaches. because there was always asda was the cheapest supermarket for the last 20 years. and that was until the discounters came in with a much better offer and that will continue to mean they will grow. and not to say that asda isn't cheaper compared to the major rivals, but it's still not been able to getting where close to matching the discounters on price. they have a much more limited selection, but on those items that they sell, they're really focused on the price and they are committed to maintaining that

contentious setting diane estabrook al-jazeera washington british supermarket chains as there and sainsbury's are finalizing a thirteen billion dollar merger the deal would bring together a nearly three thousand stores across the u.k. and that represents almost a third of the grocery market share putting pressure on market leader tesco both brands are expected to be retained under the merger any deal though would be subject to regulate tree approval. of pope francis has offered his condolences to the grieving parents of a british toddler who's died after a divisive legal battle the alfie evans case sparked a media of medical ethics a debate that resonated far beyond the u.k. and a hoax that explains why my gladiator has laid down his sheryl's and gained his wings at two thirty am our free evans father took to social media to announce his twenty three month old son has lost his battle and passed away on saturday morning the parents added they were heartbroken and thanked all their followers for support. the toddler had spent the last eighteen months of his life in intensive care being treated

the supermarket giants sainsburys and asda are in advanced talks about merging. and asda are in advanced rival from its american owner, walmart. the two firms are the second and third largest supermarkets in the uk and , if combined, would overtake tesco in terms of market share. would overtake tesco our business correspondent, joe lynam, reports. they are two of the best—known brands in the uk, but now they want to merge into one company. brands in the uk, but now the surprise announcement that asda and sainsbury‘s are tojoin up has shaken up the grocery market, and it may affect where and how we shop. and it may affect in a statement, sainsbury‘s said that it confirms it and walmart, that owns asda, are in advanced discussions regarding a combination of the sainsbury‘s and asda businesses. a further announcement will be made at 7am on monday. this whopper of a deal could certainly shake up britain's supermarket sector. could certainly shake up at the moment, tesco is the biggest grocer in the uk with 28% of the market. is the biggest grocer in the uk asda and sainsbury‘s have almost 16

that's the promise on offer to customers of both sainsbury and asda as they laid out their plans fors in decades. the prospective boss of the new giant said its increased buying power would mean a better deal for customers. ultimately, we will pass those benefits back to our customers in the form of lower prices. what we are talking about today is that we would expect the price of everyday items, not all items, but everyday items in the round to fall by 10%. that's what we would aim to do. a combination of the second and third largest supermarkets will create a retailing powerhouse. currently, the two companies have a total of 2800 stores in the uk, employing a joint workforce of 330,000 people. together they would account for over 31% of the uk grocery market knocking long—time leader tesco into second place. sometimes attack is the best form of defence and many see this bold move as a response to threats in the marketplace from the discounters aldi and lidl, from tesco move into wholesaling by buying booker, and of course amazon, which has set its sights on the uk grocery market. t

walmart selling to sainsbury its company called asda. they will get a 42% stake in the company. part of the broader shift. controlling stake in india's foot cart to get into the e commerce. >> and prologis has struck a deal. prologis is the largest distribution center of logistics. it will have a foothold in california, new jersey, atlanta, chicago. we all should have invested. >> they have those outside the city where there's land. >> a lot of land >> but if you look at them, they're massive. they're huge and they have all of these doors and trucks backed up this is how things work. you see the other thing? >> in these days of ecommerce. >> another interesting story just as an aside refrigerated ships, refrigerated trucks unbelievable demand as the entire world starts having refrigerated -- >> right. >> here to for you had sort of the local growers. a lot of redactions. the president made it over the weekend suggesting that it exon ner rated him. chuck todd asked comey what his take was and whether that report did in fact exonerate the president. here's what comey said. >> it's

they were expected to announce the sale to sainsbury later monday, merging the number two and numberrket chains. they will retain 40% of the combined company. walmart has turned its focus on up-and-coming markets including china and india. betty: abu dhabi investment fund reaping rewards with petroleum, revenue up 14% last year as the company used its combined portfolio to boost investment in existing companies and sell mature assets and enter new sectors at home and overseas. they will eventually manage about $250 billion u.s. when they link up with the abu dhabi investment counsel. , south koreand markets will be in the spotlight today after friday's dramatic summit. we will look at the stocks that will be following. this is bloomberg. ♪ this is bloomberg. ♪ paul: 8:30 here in the rainy and went sydney. markets opening soon, and futures looking unchanged by here. paul allen in sydney. betty: i am betty live, you are watching daybreak australia. let's get to first word news with ramy. ramy: north korea says it will intercut -- it will invite international observers to witness the de

lower prices for everyday items, but as the promise on offer to customers of what the sainsbury and asdaying power would make a better dealfor buying power would make a better deal for customers. ultimately we will pass those benefits back to our customers in the form of lower prices and what we're talking about todayis prices and what we're talking about today is we would expect the price of everyday items to fall by 10%.. combination of a second and third largest supermarkets will create a retailing powerhouse. thirdly the two companies have a total of 2,800 stores in the uk, employing a giant workforce of 330,000 people. together they would account for over 31% of the uk grocery market, knocking tesco into second place. sometimes a tag is the best form of defence and many see this bold move asa defence and many see this bold move as a response to threats in the marketplace from the discounters aldi and middle. amazon has set its sights on the uk grocery market. the question is, will this eager is better strategy be enough to convince competition authorities, suppliers and customers.”

sainsbury's plans to buy walmart's asda in a deal that leaves the combined company as the biggest shareholderreate a supermarket giant that would rival or surpass the current u.k. leader in market share. as your bloomberg business flash. lisa: the lowest rated junk bonds have rallied the most recently. stocksough you have possibly selling off, credit markets have shrugged off all concerns about rising inflation expectations and higher rates. investors even throwing money at companies that have burned through cash and has an unproven business model. are investors being too complacent? still with us are jason and mark. i want to start with you. i want to look at a chart showing the pretty dramatic outperformance of triple c rated corporate debt. you can see this is the blue line. it has normalized returns since the end of october 2017. outperforming both the broader high-yield index as well as the bonds.ted what does this say to you about risk tolerance and are investors being overly complacent? mark: a lot of that is energy. there's a lot of energy in that space. you have seen oil have a bid t

collaboration between the botanical garden which grows the plants, and the nearby cambridge university sainsburysnd vaterite on them? we have just not have the microscopes in the past. so technology has advanced, especially in the past two to three years, to a level where we can really look at these things in detail. there is still so much we don't know about the plant world, and the way it can help with very human problems. there are 8,000 species in the garden. who knows what other useful discoveries are hidden right under their nose? former us president george bush senior is being treated in hospital, having fallen ill the day after his wife barbara's funeral. mr bush, who was president from 1989 to 1993, was admitted to hospital in houston on sunday. the 93—year—old has an infection which spread to his blood but he is responding to treatment, according to his office. the uk's biggest network of food banks says it issued a record 1.3 million emergency supplies last year. the trussell trust says the 13% increase on the previous year has been driven by those on benefits not being able to afford

former sainsbury boss, justin king, told the today programme online retailing was being subsidised bys pay for all retailers use. here's our economics correspondent andy verity. who'd moan about the weather on a day like today? retailers would — that's who. the thermometer may have been rising recently, but last month the beast from the east took a bite out of their sales as both shoppers and staff stayed away. debenhams shut 100 stores as its customers' children made their snow angels. there's no doubt the cold weather hit debenhams' sales hard, just like it hit other retailers, but debenhams' problems run deeper and go back further than a few snowy days in march. while retail sales overall were down by 1.2% in march, debenhams' were down over six months by 2.2% and its profits dropped over the same time by 84%. the department store warned injanuary it wouldn't make as much money as had been expected after poor christmas sales. in february it announced job cuts, and today, it warned again of weak profits in the coming months. i'm afraid that retail is an incredibly tough environment

most of his film was in the attic and i went up to get the film and i noticed a plastic bag on a sainsbury did he think? he was bowled over when i showed him at bafta. the saddest part was he said his mum wanted to see it again and that's the beauty of finding lost footage, you can reunited with people who appreciate and remember it, it brings back memories and makes people really happy. of course someone like bob monkhouse would have tapes and reels in his attic but i'm not going to have stuff like that in my attic or my shared, and my? will most of us have material thatis my? will most of us have material that is interesting? -- my shared. film prince of doctor who have turned up in the basement of a mormon church 20 years ago —— film prints —— shed. every time someone says you're never going to find that, that will never turn up, six months later someone will contact you and say, i've come across something at a car boot sale and my mum has died and she used to work at the bbc and i'm in her attic and she's got these old photographs and scripts. probably100,000 she's got these old photog

like asda, sainsbury's has a big non—food business.gos, a chain that a strong online. argos stores, now in sainsbury's supermarkets like this one, would be rolled out across asda stores as well, creating a powerfulforce in clothing, toys and household items. but this proposal is likely to face heavy scrutiny by the competition authority. if they are seen, combined together, to have too much market power in a certain area, they may require a divestiture of scores or structuring for the deal to go through. joining sainsbury's and asda is a bold gamble to secure long—term survival in a fast changing world of retail. but there isa changing world of retail. but there is a way to go before this tie—up gets the go—ahead. and emma is here now. the promise of lower prices. it sounds attractive for customers. what will this proposed merger mean for consumers? what they said today is expected prices to be 10% cheaper on everyday items in asda and sainsbury's. we will see. this is about scale. it is notjust the discounters. it is about amazon look

‘s story. it is that sainsbury ‘s story.s? online shopping, so really, it's a sign of the times. sign of the times. more on that tomorrow at 7am. tomorrow at 7am. we will speak to you again later. you again later. rights when it comes to seeing their grandchildren? grandchildren? campaign about why she is trying to change the law. change the law. youngest professional game is at the age of 13. age of 13. advantage of natural resources to help create virtual currency? help create virtual currency? that's coming up in click. coming up in click. to 9am, this is where we say goodbye to viewers on bbc one. to viewers on bbc one. with katherine downes and ben thompson. good morning. of the uk's biggest supermarkets. another monopoly in a market already dominated by a few big players. released tomorrow morning. with foreign experts invited to ensure transparency. time zone to match the south. with north korean leader kim jong—un within a month. if they did not work out. of north korea — de—nuke! de—nuke! about their citizenship to