. >>> and 8.9 billion euro deal shredded international paper pulls its offer for smurfit kappa, sending the firm higher as they support the ceo's plan to stay independent. >>> and italian prime minigiused markets with promises to roll out budget-busting policies that could ruin rome's debt credit. >> translator: we want to reduce the public debt and do it with the growth of our wealth, not with austerity measures that in the past few years have just contributed to its growth. >>> good morning, everybody. back from a couple of weeks off and happy to be here but first, let's check in on how markets have been doing, because in asia, there's been a bit of a spring in the step as far as markets have concerns, mostly lifted by the tech sector, and that was again after nasdaq closed at yet another record high for the second day in a row in the u.s. session. you can see that in europe the gains are somewhat modest this morning. stoxx europe 600 slightly but let's get into individual indices and see the picture on an individual basis. you can see that the mean underperformer this morning is ftse

we feel very strongly about our position in smurfit kappa. guy: how distracted were you buy this?ou be if this had not happened? do you feel you have been held ver the la few mas sult o oer that has come in? >> i think that obviously in a sense i was double jobbing over the last few months. we delivered a record of the first quarter and we exphave a r and beyond. i think our business is in very good shape. we have run the business i think very well, in the sense that we have concluded a fairly sizable transaction at $460 million in the second quarter. it is business as usual, but i would be lying if this issue of international paper has not taken a lot of our time. it certainly has. matt: let me go on a completely different subject, on a trade war. would you think of the moves by is a trade were going to be a appa?em for smurfit k >> i think a trade war would be a problem for everyone, and i hope the adults take over and make sure nobody is hurt. history has shown that trade business, buyor for global economies, and e security of nations. i sincerely hope that the adults take over

it doesn't look as if he m&a story will happen for smurfit kappa. the stock is trading down by 5%.k of scotland is trading down, close to 280 yesterday. matt was mentioning the fact that the government is crystallizing a loss with this latest state senate -- stake sale in rbs. wpp trading lower, i think it is a downgrade. stock is trading down by around 3%. carnival is down, orange is ex dividend this morning so don't read too much into that. some downgrades reporting post season, you see these notes coming out. interesting stuff at the bottom end of the market with m&a in the mix. let's get a first word update with jttsaly. u.s. campaign to economically isolate north korea will continue, even as preparations advance. president trump's summit with kim jong-un. the white house has set a time for trump's first meeting with kim, 9:00 a.m. singapore time on june 12, although the venue has not been revealed. sarah huckabee sanders has said there is no change in what trump has described as a maximum pressure campaign on the north korean regime. whip johne majority cornyn says e nafta tal

and smurfit kappa is higher in london today after international paper dropping its $10 billion bid for packaging company. smurfit has now twice rejected offers from ip. >>> well, olitic news, president trump's meeting with noh korean leader kim jong-un now less than a week away. all of washington is getting ready. nbc's tracie potts joining us now with more. >> reporter: but getting ready for what what's the end game here, brian? that's the question a lot of people are asking. is the president supposed to walk away with a treaty that says no more nuclear weapons on the korean summit with a way tvt to be a statement between the two countries that no one can enforce? >> thank you >> reporter: president trump describes it as a meet-and-greet. >> a lot of relationship being lot of negotiation going on even before the trip. >> reporter: the state department says there is one goal -- >> we will not pull back that pressure campaign until north korea follows through on its pledge to denuclearize. >> reporter: but the state department is not in charge of planning the summit between the u.s. and

smurfit kappa groupm sounds like a cartoon.as our lives increasingly move online, more and more of our information is held in vast data centres, which consume large amounts of electricity. now in an experiment designed to work out how to improve energy efficiency, microsoft has sunk a small data centre in the sea, off the coast of orkney. our technology correspondent rory cellan—jones explains. ever uploaded a photo, updated your facebook status, or maybe streamed some music? if so, you've probably used a data centre, where vast amounts of our personal information are now stored. but what if you could put all of that underwater? up in orkney, the tech giant microsoft is trying to do just that. this white cylinder is packed with computers. it was assembled in france, and then brought here to be sunk. we're on our way across scapa flow to the deployment site, but i have one nagging question. why sink a data centre? it's easier to cool data centres in water than on land. that means we use a lot less power to cool the data centre t