there are reports that basf is considering taking an offer for syngenta.ld this derail monsanto and their plan for a takeover? they rejected we have initial -- they rejected the initial bid in may. take a look at deutsche telekom, mrs. after we heard dish network was in talks to merge with t-mobile. deutsche telekom is the parent company of t-mobile. interesting, a tech news website said a deal between dish and t-mobile is akin to to people who took up because they are the last two standing in a bar at the end of the night. the t-mobile ceo said that with no comment. anglo american down today. miners actually the biggest decline is on a stoxx 600 this morning. this is a gold and industrial metals are dropping today. nickel, in particular, taking a hit. jonathan: great work. in the u.s., bill gross had his eye on equities further east. he called the german bunds the short of a lifetime. he says the next short of a lifetime could be the china shenzhen index. let's get to richard frost in hong kong. richard, break down what bill gross is talking about. richar

spoke to syngenta this morning and they have no comment on the story. if basf goes ahead with an offer and they're currently talking to bankers to see if an offer would make sense but can they top the offer. >> which has already been turned down. >> according to a number of reports what syngenta wants is a higher cash offer as opposed to the cash share mix we have seen and also can they overcome the regulatory hurdles and that's been one of the key obstacles for the tie up because under a basf syngenta tie ups that have to be cig any can't too. >> that's what people were saying about the monsanto one awhile back. would it then have the syngthings they need for the prices. it is still sticking up since then with various other suitors hovering around it. now shares in deutsche telecom are on there. the fourth largest carrier has a market cap of $31 million while dish is 33 million. he could become ceo and charlie would be chairman. >> among just media deals m&a totals up 55% on the year. >> overall is that because there's huge growth available in the worl

monsanto wants to buy syngenta but syngenta not coming to the table. jonathan: we will be keeping a night on rbs throughout the morning -- an eye on rbs throughout the morning. the big story, the rate cuts for both new zealand and south korea for two very different reasons. >> let me get started with the currency. this is where we saw the big swings all morning. the new zealand dollar currently at the lowest level, not seen since august of 2010. let me tell you, this fell even further this morning breaking the $.70 level, falling to $.69 this morning. we are seeing the australian dollar rising, a completely different story. because of the jobs data out of australia coming in much better than expected with the unemployment rate dropping to a one-year low in may. the australian dollar just jumping. it has come down from the gains. if you look at the aussie dollar compared to the kiwi dollar, that is where you are feeling the surge. currently, it is gaining 2.6%. i will not get into the korean won because we did not see much reaction despite the be ok cut

syngenta at nearly 1% today.%. >>> amid some stocks there's speculation that brazil's richest man is weighing a bid for diageo the maker of smirnoff. who better than catherine boyle to break down the details. let's start with diageo could we see a deal here? >> seema, it's based on this one report from a brazilian magazine that isn't particularly focused on the magazine usually but there does seem to be a veiled response to it. even though this would have to be a huge price tag for this to go through. as well as, you know in favor of potentially going through is that this is someone that they have the backing that these are people who could potentially make something of this size happen. having said this the diageo company has been doing reasonably well. and helping with management and a particular wish for massive change at the company. as you said the market does seem to be adding credibility to this report. >> anything about the company saying -- >> they very much says they won't comment to the rumors and spec

syngenta says we have concerns.re is precedent for deals being blocked not just because of anti-trust in the traditional sense but because they say of horizontal divestitures there are notable examples that have been blocked due to concerns and other nonhorizontal issues. the board has concern that a combination may be viewed as such. for the june 6th letter monsanto said there's little precedent and they see no precedent. right now they're getting the heisman. very much focussed on anti-trust concerns. >> the seat business has gotten more few players. it used to be pioneer and they all used to go at it. in the meantime the farmers aren't doing that well. it's an interesting time to take advantage of lower prices. if i was a farmer i'd fight this. >> the journal had spoken to a few farmers and very different views. there's a belief that efficiencies might result in lower prices. >> monsanto is too powerful, some people feel. if you're dupont you think you're powerful. and dupont stock has been acting terribly. >> th

in january of 2014, four of the biggestkm, syngenta dow, and others filed a suit to block the enforcement of the local law. >> a federal judge ruled against us. it is being appealed. it's difficult for me to understand. >> reporter: we are at a heliport, and are about to meet with a tradesrepresentative and see what is sprayed where, in the fields. jacob ward. >> how are you doing. >> reporter: kirby, working in r&d for dow and leads the hawaiian crop exclusion shows me the fields his company and others maintain around the island. the fields we saw were often against homes and schools. >> we make thousands and thousands of different breeding combinations in hawaii every winter. it's a numbers game searching for the highest yielding that you want. >> what we are about is working well with our neighbours within the community and the neighbours next door. the people that live besides the fields and work around there. >> reporter: so if the people living in those communities say they want a county ordinance, not a statewide, just a country to keep a distance, why oppose that if that's who you

syngenta rejecting monsanto.tempts to address leg regular tore concerns if it can't get global regulatory approval. in turkey national elections, president urdu with n's party lost its majority after 13 years in power. stock there is are selling off and the lyra dropping to a record low. are you going to italy on your list? >> why italy? the turkish lira? >> then i'm talking about italy. just to get confused. things happen. >> there hasn't been an italian lira for six years? >> that's true. it's morning time. >> currency problems on the show. >> let's talk about the economy, economists rethinking their estimates for growth. steve leishman is here with more on that. >> i have no way to compare american pharoa. there is no comparison, swu one is a lumbering sluggering. what do you got? >> there are stockmarkets that aren't triple crown winners. >> why, what happens 87 years ago? >> let's get ken shaw on the case. >> don't you think we should clang thefell spelling of pharoa now? i would change it as a commemoration

what syngenta and has been arguing about, it is not a lot.think they are asking between 10% and 13% of the overall transaction. whether it's been software is slightly above, it would move the break. they want a big break for these reasons. a huge execution risk. that involves some antitrust risk. any deal is going to take a long time to go through. will take them out of the market for a minimum of nine months per year. if you want to do that it will cost you. alix: do farmers want this to go through? alan dang you take a look at something that controls 40% to -- 40% of the seat market. seed prices are triple what they .ere 20 years ago monsanto has a lot in that market. we would be spinning off businesses and properties. we want to make sure this is a clean merger. if you are in agriculture you how to make sure you know this benefits us. some larger players will talk about the economy at scale. this justry about because it sends it's a signal that the limited number of players can become even smaller. alix: hundreds of millions of dollars cou

. >> syngenta, dow and basf filed a federal suit to block the enforcement of the local law claiming hayes's laws couldn't go beyond state or federal law. >> that's being appealed and it's difficult for me to understand. we weren't saying, you can't use your chemicals. we are saying, disclose your use and don't do them around schools, hospitals and houses. >> the federal judge agreed with companies that state law preempts federal law. in fact in the u.s. federal rules force agencies like the epa to submit a cost benefit analysis to the office of management and budget on any regulation that would have an economic impact of $100 million or more. these analyses weigh the monetary value of a chemical against the risk of disease. in an industry trying to feed an additional 3 billion people over the next four decades the monetary value of a pesticide is almost incalculable. notifying workers of what was being separate at the time it doesn't require being disclosed to the public. even microscopic amounts of these chemicals could have terrible effects. >> we are at a heliport in ka ughai. we're goin

a swiss pharma, a deal and syngenta appears to have rebuffed once again. in germany. angela merkel was asked specifically about the changinging of the guard of deutsche bank. she sidestepped it, said it was a decision taken by a private company. a britain, former cfo is moving in as the two co-ceos under great controversy quit deutsche bank. down 37% and so the debate continues about strategy investment banking, retail banking and so on. meantime, again, it's still greece that people are worrying about. president obama again at the g-7 actually addressed the situation in greece and suggested it was time for the greek government to take what he called some tough political choices, growth of their economy. the focus now it turns again to the g-7 meetings on wednesday where the european leaders could meet with the greek prime minister. in the meantime the greek finance minister was in berlin today. he suggested that he has what he called a very long, productive meeting with the german finance minister who, of course, has been a heavy critic of what the greeks

that's part of the currency they'll be using to acquire syngenta. >> much appreciated.y research analyst. let's start by recapping all the details for you. the latest flashes is that the greek prime minister said that the stance was that they had not accepted the deal that greece proposed to creditors. they're saying that the stance held by the kred tors maycreditors may be because they don't want to deal or they're catering to them. we've seen it sell off to 0.4%. >> i want to get out to steve live in athens with more on the story and of course the market has certainly been convinced this week that a deal will emerge sometime perhaps by the end of the week but the comments that we're getting from greek leaders pooring cold water on that theory. >> yeah look we're going to get a lot of noise. i want the markets to start doing yoga to take a calmer stance on the whole thing. this is called negotiating. this is called getting what you want and we're going to get it from both sides. the germans and the creditors and the imf and certainly get it various parties and broadly

about how strings of these concepts are to them, however growing up as kids the notion people as syngenta getting married were unimaginable to quote one judge. there was an interesting paradox when the one in the court is insulated and once to be so come and get on the other hand, particularly on airs of what many people consider a march march for social progress, there is incredible attention to what the public is that, are we being pushed from the grassroots up? if we have what many people consider that a marriage equality, a historic event this month potentially coming from the court it would seem to me to get a response for those who want to speak to this is not a closing thought, it would seem to me to be very much a direct response to what we the people have been doing and growing and evolving on and not some other independent legal conclusion that came from some legal doctrine. so that's one thing about thinking about with this term. let's get thoughts and closing for each of her expert panelists. michelle first off i think we're : all time but probably descended because we're at a

quarter also falling below analyst forecast and separately monsanto reiterating the interest in buying syngentaanwhile, shares of lennar moving higher today, as well after the company reported better than expected earnings. a 30% jump in earnings. thanks to the continuing recovery, we seem to be experiencing in the housing market right now, kelly. >> in a cnbc exclusive, we are joined by stewart miller. welcome. >> good afternoon. >> good to see you. >> nice to be here. >> since the downturn we've seen a steady comeback what has been slow and steady. normal recoveries would be very vertical in nature. you see the first time home buyer come back in a very strong way. >> in a very strong way? >> in a very strong way, typically. this recovery has been very difficult. it's been slow and steady. and the first time home buyer's been absent. >> still? >> well, we're starting to see the first-time home buyer come back and we've seen that reported by other builders. we're seeing that in our business, as well. but the comeback of the first-time buyer has been slow because they're the most affected by the

. >> syngenta has rejected takeover offers from monsanto but the ceo of man san toe says he considersits stocks seven for one. >> netflix announcing the stock split in order to make sures which have thrown nearly 900% in the last three years more accessible to employees participanting in a stock options program. the stock is up about 37% in apple since its split. that depends on whether netflix can continue giving on the same three netflix that drove the stocks outperformance in recent years. one, consistent subscription growth. and fast overseas expansion. in three is the ongoing critical and consumer response to the original exclusive content. the cost of netflix is accelerated international expansion as well as the originals does mean higher spending while overseas results are being squeezed for the stronger dollar. now that hbo and show time are offering director services similar, we'll have to see if they subscribe to a range of services as they do with cable channels or if these rivals start to eat into netflix's growth. >> we're still trying to understand all of this. your sens