the u.k. is enjoying the holiday. u.k. government is coming to block pfizer's acquisition of astrazeneca. the takeover may not be in the national interest. they also say that no other country would approve the deal on the basis of weak assurances from pfizer. are conflicting reports of whether pfizer will sweeten its bid after rejecting the offer on friday." over to france now. francois hollande is hosting prime minister abe. it is the latest leg of his six-nation tour of europe. they are said to focus on trade talks with tokyo. the visit comes as japan deals with china. we will talk about that as well. and a new gauge shows china's manufacturing contracted for a fourth straight month. the hsbc purchasing managers index dipped below analyst estimates, a further sign of the slowdown in china. coming up, russia's next move. president obama and chancellor merkel set a trigger date for more sanctions. ambitionsstop putin's in ukraine? we will discuss that next. ♪ >> at a time when we are trying to prove that yes, it is possibl

if the u.k. government was to step in based on a public interest test in this particular transaction, it will affect potential transactions and investments across all sectors of the economy. that will have a more negative impact on jobs and any jobs that jobs that might be artificially saved by blocking this takeover deal. >> back to you in the studio. we just heard the other view on what the stakes are with the long-term effects for the u.k. economy. nicholswas hans speaking to dr. roger barker from the institute of directors. ourere is what else is on radar today. rebels in eastern ukraine have asked to join russia after saying its referendum showed support for independence. russia's state-controlled gazprom is running to cut off supply to ukraine unless kiev pays for its gas by june 2. >> and unicredit chief executive says a solution to the crisis is needed to avoid harming business in europe. italian bank is one of the largest in ukraine. >> i hope that, at the end of the day, common sense wi

not just in the u.k.al perspective. >> i think the amount of liquidity in the system tells you this is a potential for bubbles. i don't think we look around the world in a concern that there are bubbles. uity will produce high digit -- single digit returns and maybe low double digit returns. the transition from very easy monetary policy to some tighter, still not tight but tighter than it has been having that transition play out in terms of rate markets and credit markets. >> that transition. we have seen one or two testing moments in that. it is not going to be an easy journey. do you envision an emerging market, giving a little bit of space at the moment to put their house in order. that is my interpretation of it subjectively. will they go through another period of adjustment as we go to higher rates in the states and in the u.k.? >> yeah. as you point out, the first comment around tapering, from ben bernanke -- >> a big selloff in emerging markets. a lot of that money is now washed out. i think we're

to what extent the u.k.revent harm and damage to this environment -- to his economical sector. skeptical questioning could have a chilling effect on investment inside the united kingdom. i do think that given the scale of this potential deal, the impact on this vital sector for our u.k. industry is important. >> you will have a member of the government addressing the committee. we see to drive a wedge between his position and the conservatives position? test mr.k we will cables position. he is always stated on the record that he wants to discourage short-term moves simply for attack is -- for tax advantages. there are tensions within the coalition, and we want to see to what extent mr. cable's viewpoint is having the upper hand or whether this is being led by number 10 and mr. cameron. offer byn increased pfizer soften your opposition? >> that i think is about the size of the bid, it is about the 10 -- the intent about what it will achieve. it is what value it adds to our british industrial base. >> thank yo

they look at the u.k.ay these are big hits that can be transported across. >> we look for to those hours of the top -- those numbers of the top of the hour. >> up next, we will take a look at the downton abbey broadcaster itv with the uk's biggest commercial broadcaster the world cup winner. >> we will take a look inside during the cane spam festival -- during the cannes film festival. ♪ >> time for some news. france's largest cable operator said it is on target to close its purchase of the phone carrier by the end of the year after reporting a jump in quarterly profit because the chief of financing. that income ran -- rose to 35 million euros in the first quarter to 23.6 million euros a year earlier. hascompany says its ipo reduced borrowing costs and boost the profits. google is making it easier for customers to get the test version of its glass internet connected spectacles. the devices will go on sale to anyone in the u.s. today after previously only having been available by invitation and referral. th

and gave absolute assurance that would result in full u.k. jobs and said it could put lives at risk. how could any prime minister that the right thing to do in the national interest is to call this in? >> we are operating under the legal framework put in place by the government that he was a member of. i actually think when he looks at the record of what was said yesterday, i think he'll find that the quotes he gives are not actually in fact, accurate. >> does the prime minister agree that the building of the roads will create even more jobs and that continued infrastructure investment like this is a key part of our long-term economic plan? >> i have spent some time in his constituency stuck on the a-5 and i know how it does need remedial work done. it is vital. we are investing more in our railways and we are investing more in our roads since the 1970's and absolutely key to the success of our long-term economic plan. >> is there a good reason why the prime minister won't condemn the tax affairs? gary barlow? >> i couldn't have been clearer

>> arguably they could benefit as much as the u.k. not everything that is wrong in europe is down to the eu. you talk about italy and spain. in those cases, a lot of what they are suffering from our self-inflicted wounds. if the eu broke up or came out, they would have to do something fundamental to reform their own economies. >> let's talk about the reform process. if you were to handicap it and you talked about the likelihood of being able to reform the eu to the level of which the u.k. happy,al area would be what is the chance of that happening customer >> -- >> the political elite is one thing and the british people are another. we do not know whether they will be asked for a referendum. for a straight question, what are the chances of getting the eu reformed in such a way that the british public would vote to stay in, i don't think the chances are high. we really have to try. be astorming out would terrible thing. it would color relations and we need to be friends with these countries and have close trading relationships. i could

and the u.k.?the fed and the bank of england as well. >> does anyone care about this? because it is such a big deal. 11.9%. just off a record high. we have hardly seen any improvement here. if there is a crisis here, we have to get these people to work. that number right there, the headline number, we talked about it. on the youth unemployment side of things, it is horrendous. >> jon, thank you very much. shall we recap one of our top stories today? pfizer has updated their offer for astrazeneca coming through with a new price. giving new details. we have seen the share price. it is 10% higher i saw in one particular call. what is interesting about the offer is some of the commitments that go with it from pfizer to them talking about being committed to a complete reconstruction of the cambridge counter. this is fleshing out how much they are committed to being part of the u.k. economy if they manage to take control of astrazeneca. they have to sell it to the u.k. government, haven't snape >> astraz

across the u.k., it is reaching all-time highs. people are flocking to the u.k. town. >> we are watching -- we are awash with cash. awash withnot say cash but the government has introduced tax credits as a massive incentive. for film, television, and animation and games. that has allowed us to develop talent and infrastructure. our visual effects are the best in the world, "gravity" is a fantastic showcase. people really want to use that with those incentives. we could not be busier. >> with new ways to watch videos and to watch films such as on your mobile or tablet. with new ways to devour film, such as streaming sites, does that make your job harder? what sort of demographic are you going for? the younger audience is devouring the new technologies. what demographic are you focusing on? >> i would use the analogy that we all have kitchens at home but we still go out to eat. people are sociable and want to experience the environment with other people. they do not want to be confined to their own homes. for us, we target a slightly older demographic. it is not di

it is speaking about u.k.cience, the fears are that pfizer would under invest in research and development in the u.k.. it says the combined portfolio would deliver value. it says it is committed to investing in the u.k. science. key leadership will be located in the u.k.. that will be important to politicians who will of course be grilling the ceos of pfizer and astrazeneca tomorrow. we will be carrying that live here on bloomberg television. pfizer very much bring its case to the u.k. public. crexendo the video over the weekend. neither coming up with a statement for politicians. astrazeneca, up half a percent. it is still holding onto its gains. >> time in london is 10:22. we will rush to those pfizer headlines once again. stay with us on "the pulse." >> welcome back. this is the pulse live on bloomberg television. streaming on the ipad and bloomberg.com as well. >> time for a look at the biggest stories in new energy. providers of market data for oil and biofuels may have conspired when the ordering benchma

we have great strength in the u.k. and u.s. in our advisory business, in global equities and global credit. we call the of what macro business, the rates, affects and so on. you're going to focus on the shorter end of the macro business. we will reduce the size of the investment bank. those 7000 reductions will occur evenly between 14, 15 and 16. we expect to run the investment bank in 2016 with no more than of risk0 billion pounds weighted assets, down from 220 billion pounds in 2013. the investment bank will be no 'sre than 30% of the core total risk weighted assets. it is about focusing the investment bank and rightsizing it inside the total barclays group. bank notre investment representing more than 30%. you are also creating this bad bank. does it mean you can still compete without these businesses? that wesolutely believe will be competitive as we are today. the market, with the clients we choose to serve. we have top three top five positions in the business that we are going to retain. that is where our focus is going t

the number of billionaires in the u.k. has risen to over 100 for the first time, which creates a combined wealth of $301 billion pounds. and that means we have more billionaires per capita than anyone else in the world. >> because we are little. stephane didn't know if that was a compliment or criticism. >> what? >> when you said he has the qualities of a billionaire. >> i meant that he can enjoy the higher qualities of life. >> just checking. >> he's well worth going out for a meal with. >> carry on. >> if you want to, i was leaving that for you. >> thank you. if you are a billionaire, where in the world would you live? obvious question, would you seek out a take haven or your own delicate private island? >> or would you live in london, which is what many do. let us know what you think and get in touch with us, tweet us or direct a chat to us. i think what you do if you are a billionaire, you have multiple homes. so which one do you claim your prime residence? >> why would you choose? >>> still to come on the show, how co

we have u.k. retail sales at 11 a.m. u.k. time. that is one to watch.ending money on moneymakers? we will have more on why the commercial bank may be going cheap according to our next guest. >> welcome back. in london it is 7:51. let's take a look at some of the stocks. let's start with the moneymaker. profitid their pretax came in a little below analyst estimates. the net income was below estimates as well. of anye not warning changes. they are keeping their outlook at theed. >> if we look last 18 months we had to profit warnings. key we don't get profit warnings. think another profit warning would have significantly damage the price. businesstch retail volumes staying under pressure. what are the takeaways? >> it wasn't just her office that missed estimates. it was margins, which is a common theme as retailers try to compete with one another. about cost-cutting efforts to reduce cost by 300 million. need to see significant improvement. you look at share price, and it's up 75%. there is something people really grasp onto. >> we have had ge over in fran

and u.k.he point is to get credit back into the business. >> he seemed skeptical that whether interest rates will do enough to stimulate the economy. other academics we have talked to over in portugal, at the ecb forum are skeptical whether an asset buying program will the thing to get credit flowing into businesses. is a saga that has played out for the past five years. we need to see decisive action on the part of the ecb. a what is the commitment from them that they're going to solve this problem. they're going to expand product to adulation. that is up for the markets to decide. with interest rates at zero bound, it is not helping in the periphery. >> how does that whole how does that- play into your perception as an asset manager when you look at the currency, when you look at the peripheral of europe? just try and draw some of those thoughts together. >> i think that starting with peripheral markets, we have seen quite around the over the past few months. bondse cases, the 10 year of the

., it is feared the u.k. independence party will be the strongest. the conservatives would possibly be the third party, and that has not happened in the history of british politics. of course, what it all means depends when we look at europe very much on how well these far right parties will work together. there are some deep visions in these far right and anti-populist parties, and some do not even want to sit together, but of course, they are united by strong opposition to more integration within europe, and if they can work together, it would, of course, have made things more difficult for parliament, for example, if they would've pushed through something like the free trade agreement between the u.k. and u.s. >> they say all politics is local. how will this play out for national politics in britain? >> they had no seat in parliament at the general election, and even if they do win massively, they are predicted to be just under or about 30% here in the u.k. it does not necessarily mean they will have a sea

the u.k. is a good example. money invested into london real estate and stock and europe is getting oil and gas from russian companies. couldf taking sanctions have a real ramifications of what happens in these countries in terms of the everyday lives people living there. i think the individual countries are very unlikely to impose their own sanctions, their own political freezes against these companies. thepoint is that if pressure does continue from the as. and from europe, there is real opportunity here that would not have existed otherwise if these were russian companies. the bottom line is that these comments are not russian ammann they are dutch companies, luxembourg companies. that could provide an opportunity. >> we will leave it there. a great story. thank you for joining us from rome. political fights in the u.k. ed milleband. details are coming up next. ♪ >> good morning, everybody. you are watching "on the move." let's turn to restore he would've been watching for the last few days. a deal that could

we do have local election results in the u.k. him smiling. the u.k. independence party in local elections delivering the first tremors of a political earthquake according to the headline. if you extrapolate and say that is applied to the european vote, perhaps he is going to emerge with ukip as the leading party. >> they are hoping their success will translate on the european level. let's look at the countries voting today. they are ireland and the czech republic. they are both showing up in the papers. >> i turned to the papers. let's start with the "irish times." it is looking at the debt situation. -- dutch situation. we have seen a lot of him in the last few days. he is the leader of the freedom party. the headline is saying he could be up for a major setback in these european elections. it is a direct contrast to what is happening in the u.k. in exit polls, he is put at fourth in terms of the european vote. we will have to see sunday evening how that pans out for him. let me go to the "progress post -- prague post." is looking at the broader issu

and the u.k. are growing. unemployment is falling. the u.k.as been growing for five quarters now, the u.s. for some time longer. we had weather distractions in q1 but i think this reflects a return to growth and a need that over time you're going to have to hike interest rates as the economy keeps growing. >> talking about rate hikes may be one of the themes they are talking about at the moment. the other theme that is coming through this week is about a lack of volatility markets. a number of central bankers inc. that is an area for concern, not evidenced in the minutes, but is that worrying from here? the lack of volatility? >> worries me is the return to volatility. they increasingly talk about policy exit and this will be a big challenge for them over the next few years, this first rate hike that the fed will and bond buying later this year. we also think there will be a taper last year that was the caravan. volatility returning is of course a risk. banks will beal very careful in why they are talking about it early to try to prepare us fo

u.k. lawmakers want to ask bid what it means for u.k. jobs and developments.labor already accused david cameron for being a cheerleader of the u.s. takeover. cameron told the bbc that he is ready to stand up for british jobs. benefits massively. land rover, it has created 9000 jobs since i have been prime minister. ♪ >> let's get back to the record-setting general election in india and look at the impact for global investors. joining me now is the head of emerging markets at ubs. great to have you with us this morning. 800 million people going to vote. how much of the potential for i exceeding two power is already priced in? , great shape.tics the turnout in this election has been massive. this is a record turnout. it has been largely free and largely fair. that says good things about a nation. that is where i think the good news ends. in by the market. they're expecting a majority. or aould get a rebound continued rise in the market in the short term. you could see numbers improving in the short term as far as the macroeconomic numbers. whether this governmen

u.k. unemployment fell to a five-year low, 6.8%, for

it is three quarters of the u.k. economy.ght policy was going to be boring for the rest of the year, you may be disappointed. the euro went up by 4/10. corporateiticians, across the eurozone, the exporters, what is going to push the euro down? we are above 1.39. no ecb talks until thursday. expectations of the ecb are pretty low. who was going to talk us down? janet yellen? she's the smart. is that -- she talks tomorrow. is that enough? don't get your hopes up. >> don't get your hopes up, john. >> coming up, lufthansa presses ahead. we will be speaking with the company's chief financial officer. >> as we head into break, let's the oscars of the fashion industries. event, whitethe tie, apparently. ♪ >> welcome back to "the pulse." this is some of our company news today. coca-cola plans to move a controversial additive from its strength after bowing to pressure from food activists. at --gredient is a bvl 30 bvo. it is used as a stabilizer and drinks like power aid, to prevent other ingredients from separator. there is something

widely down across most of europe. , close to1.6898 $1.69. 9:30 u.k. time, we get u.k. services data. this one matters because it accounts for three quarters of this economy right here. this will just add fuel to the fire over that debate over when the next rate hike comes, francine. it has been a while. >> it has been a while. thank you for the right much on the latest of the markets and the foreign exchange. joining us for more perspective is chief investment officer at access investments. ukraine and a lot of the earnings. a lot of them pointing to foreign exchange swings. what is the one thing that is worrying you the most? >> i think the only thing that generally worries us is that we tend to only see amplitude on equities in individual names on an event spaces, whether there is an announcement of activity or and earnings surprise or disappointment. trend seemsgeneral to be very event driven. i'm worried to the extent it may be misleading as to how far equities can go at this point. >> you would actually evaluate them to the lower side? we have quite a good run on

how the u.k.nsure the economic recovery continues to strengthen. >> if we want to continue to be a prosperous nation and when you look at the way the economy is changing, it is based on knowledge and science and the application of the digital environment and if we don't keep up or get ahead of the game, the really clever ways we have succeeded in the past are going to be for nothing. >> one of the top priorities is tackling youth unemployment. >> it is important we give the young people employability skills as well as a good education. the good education is vital, but if we do not give them the skills they need and the training they need and the , if we dothey need not give these and find ways of being able to engage young activity, we will have some sort of reduction in prosperity because of the way science and engineering in the digital economy is building so fast. >> the duke of york speaking to us. festival is wrapping up its first big weekend. the city turns into a yacht paradise where the st

the biggest antiestablishment victories came in france, greece and the u.k.. the u.k.ependents party that wants to pull britain out of the eu -- -- out of the >> thanks for joining us this morning. a huge victory for nationalist parties, for antiestablishment parties, for anti-austerity parties, how big of a blow are these election results to european integration? surprising that more nationalistic parties are getting a larger share this time because unemployment is very high in a number of countries, especially in greece but also in france. why else integration is a major issue in u.k. and france. overall, these nationalistic hardee's still have a minority in the european parliament. their influence will be large. is make it harder to centralized powers within the eu? forhere now an appetite further concentration of power at the center, or even expanding membership to make it 29 ? it is very unlikely in my view that a further centralization of power may happen in coming years. instead, what is more likely in that case of france is since the national front came out the

>> u.k.ompanies confidence rose to a record, indicating continued expansion for the service side of the economy in the u.k. economic data in the u.s. -- 8:30, durable goods. 9:00, the s&p-case schiller home price index. followed by the fed manufacturing index. and: 30, the dallas fed manufacturing index. before the bell, radioshack. >> i look forward to squeezing and all the economic data. the negative statistic we should see -- that codifies how cold. 84 in new york. cold and freezing. >> so cold. >> it was frozen. >> every company blamed the weather. retail earnings were the weakest and 13 years based upon reported members of the forecast. >> let's get the company news. disputelout from the between the u.s. and china over cyber espionage. the chinese government pushing domestic banks to get rid of their ibm servers and replace them with ones made in china according to people familiar with the matter. lastly, the u.s. accused five chinese military officers of stealing secrets from u.s. compa

has looked into the u.k.'s alleged war crimes is it what what makes this case a potentially stronger than previous a terms or one of the few differences is that the volume people are now complaining of the number of victims you have submitted the complaint in the initial case it was a smaller number and that was one of the factors that the i.c.c. took into consideration when they once investigating it was not that it was not any concern about lack of that there was evidence just that abuse is a complex is a matter of volume and now much greater there's a large number of deaths as well as serious used to being complained of and of course these aren't the only cases there are lots of reprieved including a gentleman called us from tony who's a construction worker who went to iraq and find employment there was subjected to seriously treatment by the brits but one player was then transferred to bangor maine the hands of the american so one of the concerns that we hope the i.c.c. look at when encouraged in trying to

trying to convince u.k. lockers that his company is good for the u.k. economy as he tries to persuade his target to enter talks. our bloomberg international correspondent is in westminster outside the hearing. i can be it is raining out. what was the argument? did he convince anybody this is a good deal? >> he may have convinced some shareholders this could be going through. you see stock holding a little bit up. here is his challenge. he is facing a skeptical if not hostile audience. thats to make the case while this makes good this nonsense, and they are talking about reducing the overall levels of r&d and having less research and development and more synergy, but will that lead to fewer jobs here in the united kingdom? it is almost impossible to reconcile those two arguments. without having some sort of inherent tension. he also has to make the argument with one hand tied behind his back because he cannot speak to positively about the benefits of buying it or otherwise he will just drive up the price. morning that this another author -- offer will be

the biggest antiestablishment victories came in france, greece and the u.k. the u.k. which wants to pull britain out of the eu. billionaire petro poroshenko leads ukraine's presidential polls. he has won more than half the votes that have been counted. most people in the eastern part of the country did not get to vote. for more on the latest in ukraine, let's get to our correspondent, ryan chilcote. russia last week, st. petersburg today. what is your feeling? >> it is pretty clear on this one. petro poroshenko is all but certain to become president-elect of ukraine later today. he is a veteran of ukrainian politics. he has been the ukrainian minister. he has been in power under numerous leaders and has reuven himself to be very agile at dealing with. various politicians. he is a billionaire, worth exactly $1 billion by our count. i talked to him just after he came off the stage yesterday where he effectively made an acceptance speech. what i found remarkable was the way he describes the situation in ukraine like a businessman. have a listen. there is a great danger b

allegations of bribery in china have come to the u.k.h criminal investigations into the drugmaker's practices. we will give you details. ♪ >> i am manus cranny. streaming the move online, on your tv, and on the amazon fire tv. here is one stock on the move. it is the dutch retailer. the stock is up 3.34%. -- down 3.34%. margins in the united states of america. if you are a stop and shop culture, you are not paying as much as you have to that at other stores. margins under pressure. online sales up, but overall sales dropping. ahold outperformed by raymond james. suspicious on the ability to deliver at the death rate taylor -- at the dutch retailer. glaxosmithkline will face a criminal row. it comes amid ongoing investigations to bribery accusations in china. here with the story is caroline hyde. where are we with this? the chinese have been investigating. >> chinaeally serious has been investigating ten-month but there is no direct link between the office. we do know it is the first confirmation that there will be a criminal investigatio

in the u.k. specialists are working on solutions ranging from clearer food labeling t weight loss programs. >> people are here for advice on how to lose weight and keep it off. as the number of obesity cases increases worldwide, u.k. doctors are now referring more people to weight loss specialists. >> people are encouraged to cook from scratch and it's best diet i've ever tried. >> modern lifestyles are making us increasingly fat, and in richer nations, the economic slow down has increased appetites for cheap, calorie-ridden foods. scientists have known about the health risks from things like smoking since the 1950s even though it's taken 60 years for warnings to appear on packets. the same kind of progress has not been made when it comes to beating obesity. a lot of foods may be better labeled than they were, health experts need better briefing. >> on one hand there is education, but we also need to place it into context with the fact that cheap energy-dense, very fattening calories which are qu

most of the people want to head to the u.k. the u.k.ys no under the dublin convention these asylum seekers must be given asylum if it's accepted in the place they first land, in many cases that is italy. >> naznene you did touch on this. what happens to the people, are they being taken somewhere? >> well, at the moment there is a standoff between these asylum-seekers or refugees or whatever you want to call them and the police and the authorities. the police want to get them on buses to take them to have showers, that's what they've been told. but the fears for these refugees is that they will be taken by bus very far away from calais and they say they will have to walk all the way back, because this is where they want to be. there have been deaths of people trying to get on legislatories, swim trying to get on to ships, drown off the coast of calais. this han hasn't deterred them. they try get a job in the u.k, try make a life for themselves s there. >> we thank you for that. >>> over a thousand migrants have stormed the spanish enclav

he said the u.k.nly remain prosperous if the country is ahead of the game in the changing economy. >> we are going to need nearly and one million digitally skilled people in the ,ext 5-6 years, perhaps longer in order to be able to go in and fill the jobs in the digital economy. bankrture bank -- deutsche has a new major shareholder, the qatari royal family. it is part of a plan to raise $8 billion ahead of the stress test later this summer. the co-ceo spoke to hans nichols. decided that we would get one step ahead and pre-position ourselves with a capital buffer, which would put us in a very strong position. why $8cond question was, billion? a ratio of $9.5 billion. we think this gives us a very healthy buffer against any of the headwinds. >> let's get more on deutsche bank. good morning, thank you for joining us. >> good morning. >> otooto, let's start with deutsche bank. do you think this is it? are we done and dusted? >> deutsche bank has a history of coming back for more. --anshu it is certainly

or in the u.k. are exploding they're up in the food prices are up close to ten percent same thing in the u.s. now again to repeat they don't include food prices when they calculate inflation not out of any representational basis and those inflation numbers are used as the deflator when calculating gross domestic product so if you understate food inflation somehow g.d.p. is up or in the case of the u.k. g.d.p. is positive because they think food inflation according to the statisticians here the office of national statistics in the u.k. food inflation is running at two percent a year it's growing a temper sunnier if you were to include food price inflation as it actually is a ten percent a year and you subtract that from the overall g.d.p. numbers as you do when you publish the number. you would find out that the u.k. economy is in fact negative negative g.d.p. and therefore the response of the central bank is diametrically opposed to having a healthy economy now of course when they talk about animal

don't say central london. >> the u.k.ds to do more to stop the microwave affect in housing prices. to some extent it is not the bank of england's fall. it has been the government to push rending for risky borrowers. the bank of england needs to do more to stop the microwave from turning people into popcorn. >> i love that. microwave, itthe is politically fairly unpalatable isn't it? >> what do you do? you hike rates and that affects the whole country and the whole economy. maybe that is not the right thing to do. >> macro credential? the use of macro credential but not much has been done. inre is very little evidence norway, sweden and denmark that macro credential works. they are already behind and they need to do more. and know that the stock trade of your yields that comes through is still very much geared towards bank debt. where are you on that story? we are almost at the halfway point of the year. are you still as enthusiastic about various levels of bank that? >> i think banks continue to heal, continue to raise eq

campaigners in the u.k. say far too many british weapons are falling into the wrong hands it was babbling to open politicians eyes to the fact tell us about their mission. and the life and legacy of a digital freedom fighter the story of aaron swartz was put to film its director tells us about the pioneers big brother battles which arguably prompted his suicide . seven pm in moscow watching r t international with nearing the josh well ukraine's interior ministry claims it has retaken control of the city of mariupol which is about a ten hour drive from southeast of key of and at least three people are sad to have been killed in the operation against proton the crowds there which started overnight and there are reports of mortar shelling near the city of slovyansk another hotbed of anti-government unrest currently besieged by ukrainian troops well over one hundred thousand people live there and local silva fans units report the army has opened fire at a checkpoint while residents say they are unable to leave t

is that just a london phenomenon or is that a u.k. phenomenon? >> i think it is a u.k. phenomenon.nk because of the internet and because of the ability that we can now have a global business from anywhere, you are seeing pockets in other places. bristol is creative. kent is upping their creative sector. newcastle, there is really great hot pockets around. you are always going to have that influx to london because that is where the money is. but i think the whole country is incredibly talented and creative. >> what do we need to do better when it comes to education? starting at the beginning. that entrepreneurial education should be on par with something like sex education. not in the same class necessarily but with the same kind of embedding. from an early age, you know what it is. can makerepared, you smart decisions and know how you want to move forward. ,here has been a real sort of this isn't for you, business isn't for you, in education. we have to offer them a wide breadth of opportunities. >> what you said at the beginning was interesting. you talk about the creative sector

contrast to oversee your new u.k. where the bank of england are thinking about using a macro prudential measures to try to tame the housing market because they don't want to touch it. their doubts about macro or micro prudential tools to soften housing markets. what do you think? >> i think it is unproven. in the same way that qe was also quite untested, yet everyone launched into it. i think the bank of england will clearly try to exercise these new powers. remember, their new powers. i think they will do that because it really do not want to jeopardize the overall upturn. >> here's a look at what else is coming up today on the move. $35 billion deal. the the does go on at apple. beat does go on at apple. ♪ >> we don't see any major hurdles. ,t is only a lengthy process and something which is taking more time than we expected. we don't see any major problem with chinese authorities. all the questions that put to us, we don't see anything that could come in the way of an agreement. >> what a difference a month makes.

well out of her of the u.k. magazine politics first marcus papadopoulos believes ukraine's unpaid bills are putting europe in quite a predicament one of the ironies concerned in the illegitimates forty's and care is that they've been saying from day one we want to integrate with the west politically and economically and we wish to turn our back on russia well if that's the case you pay the market price for gas there's no discounts there's no free for who relations if you can appreciate the whole store approach to russia there's going to be no discounts the the west who is back in the illegitimates forty's in kiev they really need to sit these people down and actually say you've turned your back on russia for you i russia money for gas supplied already and you're going to have to stop paying the market price because otherwise there's going to be serious ramifications for the whole of europe. well meanwhile to granny in regions have decided to break out of kenya absorb it declaring themselves sovereign states don'

so the u.k.is not a bad place to be at the moment but clearly very competitive. >> still, shareholders and regulators, litigation, that is at the general banking sector is having to deal with. it is not the ideal environment. >> especially for bank like barclays. it has been involved in libor which is where the problems with shanking trade. king trade.n >> thank you. that approach seems likely to change. sam grobart explains. >> there are people who wonder, why has no bank and brought up on criminal charges? indicting a bank is a tricky thing. if the government was to label him a jewel -- a major financial institution a criminal enterprise there could be a run on that causing greater damage to the economy more than whatever malfeasance was conducted. a federal prosecutor to do? government lawyers have avoided this doomsday scenario by brokering settlements called deferred prosecution agreements. in 2012, the u.s. department of hsbc ofaccused bank stemming failures related to money laundering. ins

one of four successful u.k. candidates... he told supporters that this was an historic moment. >> you have spoken and delivered just about the most extraordinary result seen in british politics for 100 years, and i'm proud to have led them to that. in a way it's surprising it didn't happen before. we had three parties in british politics that led us into a common market. leading into a political union that twisted and turned with a variety of promises to give us a referendum that they have never kept. the balance of power shifted. the conservatives suffered in the polls. he has been forced to take a tougher line and promise a referendum on britain's membership. he's under pressure to move to the right. some observers say that would be a shake. >> the temptation for the national government is to look at the anti-e.u. and immigration party, and the way to win that vote is harder on migrants coming to the countries to lock up, detain, and impoverish refugees and undocumented migrants. this is a damaging development. >> for the v

you'll be teaching in the u.k. we look forward to seeing him in the u.k.steve king at thanks again got to go now out of time thanks for being on the kaiser report you're welcome at the debate it all right that's going to do it for this edition of the kaiser report with me max kaiser stacy ever like to thank our guests fifteen if you'd like to get in touch tweet us the kaiser report that are. probably the most complex and difficult to. run. the phenomenon of friendly fire probability extends back to the invention of gunpowder. fuel a bunch of people. who want their families their review. people. write i'm writing. this some of them shoots my brother in the leg not intentional because it is because it was night times four in the morning even the best given the mesh shoulders. are going to make mistakes and this is this whole idea of brotherhood an author and then and camaraderie in this sets it was in this context that has absolutely no place. to. play it was a. very hard take that. once again long here is a place that we never had sex with that hurt me ther

now the u.k.y itself as the founder of human rights but when it comes to making money it can seem to forget its principles last year britain signed arms contracts worth billions of pounds with countries that its government now admits have poor rights records and harbor extremist let's now take a closer look why every year the u.k. sells arms to well over one hundred countries across the globe and that includes both weapons and hardware that could be employed by both the military and civilians but what's striking is that many of the states have been identified by the u.k.'s foreign office as nations with serious human rights violations and they include iraq libya saudi arabia and yemen well that means that britain is trading with nations its own government deems repressive and have a handle on top of that some of the buyers known for human rights abuses are not even on the u.k.'s offenders list and this is true of countries like egypt and bahrain last year the gulf kingdom received more than fifty

government on the u.k. rather government to criminalize attempts to silence whistleblowers that part of the great. economic down in the final. days. and the rest because i. believe if we. should have you with us here on our t.v. today i'm sure. this is also international welcome by supporters of the whistleblowing movement have come to ten downing street with a petition hund demanding protection for those who shed light on government and corporate wrongdoing. they go to the government officials to report corruption and they get the door slammed in their face. the document signed by ten thousand people called in the u.k. government to make the next my ization of whistleblowers a crime the acts of it's a allege that won't do is must be subjected to scourge on inside of those who bring attention to their misdeeds and when the addison is one of those who went to downing street told us he was a whistle blowers in support i was the whistle blow for the biggest disaster in south african history and i blew the whis

evil and said that the u.k. would offer any assistance necessary to nigeria.ater, the prime minister responded to questions about the proposed takeover of the u.k. pharmaceutical giant astrazeneca by pfizer. this is just over 35 minutes. >> thank you, mr. speaker. i had meetings with ministerial colleagues and others. thisdition to my duties in house, i will have further such meetings later today. >> thank you, mr. speaker. as the proud father of three sure that them entire house will share my deep concern for the more than 270 nigerian schoolgirls held captive in that country. the only so-called crime, which had, is they aspire to receive an education. what my honorable friend set out for the house the steps this government is taking to ensure that we help to ensure their release as soon as possible? that my right honorable friend speaks for the whole house and indeed the whole country. i am a father of two young daughters, and my reaction is exec with the same as his and every father or mother in this land or in the world. this is an act of pure evil. it has

i don't see that in the u.k. today.shed cene -- how do we stand up on those comparisons? >> silicon valley is an easy place to go. >> you don't like the silicon roundabout, do you? israel is a far better example. if you look at the quarter companies on nasdaq, it is close to 100. for a relatively tiny country, look at the billion-dollar assets that that country generates in tact. we could do that here in the u.k., but it requires government policy in order to do that. it requires an overhaul of the education system, a fundamental overhaul now in order to take advantage of that. >> doesn't require private businesses and others to invest in those skills as well? >> i think so. ofare in the middle training people because we have to. and of the private business the education system as well, we have to have graduates with the skills available in the marketplace today. otherwise, you can scale a business so far, but to get a hyper scale a business like , theirk and google people based businesses. we have to have people that c

u.k. property search company. some say it might be down, but secondly it is online looking at property. daily mail up 6.3%. >> we will talk about that story later on. euro/dollar is down a quarter of one percent. that is a shocker from france on the pmi. >> plenty for the ecb to think about. early this morning, futures were higher with a little optimism in this market. i am in the dark. hopefully someone will put the lights on and you can see me. equity markets higher by 0.2%. the dax up by 0.3% as well. chinese pmi still in contraction. call it a five-month high if you are optimistic. focus,there is only one euro/dollar off the back of that pretty bad pmi reading out of france. you did see it did lower. this one here is a three-month low. plenty for the ecb to think about. it is italy,t -- spain, france. pmi is in contraction territory. the euro does not like it. the market expects the ecb to do something next month. >> we can all expect what we like. thank you very much. joining me now f

u.k. housing boom. >> stock starts trading today as china's answer to amazon raises one point that it -- $1.8 billion in its u.s. ipo. welcome to "the pulse." i am mark barton. >> i am olivia sterns. also coming up, unilever sells the sauce. find out why it is shedding ragu and bertolli. >> we will tell you about the tech trayvon protest against russia's role in ukraine. it is russia's biggest gathering of business leaders. this year is one of the most controversial. joins us from the st. petersburg international economic forum. you have been covering the summit and russia for over two decades. what is different this year? >> what is different is who isn't coming. what is interesting is why. you look at american ceos. they aren't coming this year because the white house told them to stay away. it is not just the u.s. ceos. a lot of european companies aren't coming. even international organizations. the ifc, the world bank, they are all staying away from this for him. there is a clear signa