it is vodafone.on the move as we see significant changes taking place at the business. how significant will they be? the stock is trading down by 3.21%. he has been running the business for years and has transformed it. the fact he has picked the group cfo to be his replacement suggests continuity. the market on the hop on this one. trading down, 3.25%. going show you what is on. trading on decent volume, indicative as to the market's surprise and it is interesting to see how many buys there are on the stock. 18 buys on vodafone kerry will analysts have a real look at the strategy going forward? will there be changes going forward? that is a question analysts will be asking. that is our stock of the hour. vodafone. tomorrow, another exclusive interview on bloomberg. james bullard will be joining us. that conversation wednesday, 6:30 p.m. u.k. time. i will join the bloomberg daybreak: europe radio team. next, francine lacqua and "bloomberg surveillance." this is bloomberg. ♪ ♪ francine: erdogan exclus

structure about the vodafone wants.he phone onc >> vodafone is trying to decrease in germany and itsart market there, and for other reasons like the connections they'll be getting through 5g. the way to have structured the debt is in trying to reduce the likelihood it gets for that rating. is increasing its target to leverage, and it is outside of the comfort range. by offering convertible debt against rated differently and more favorably by the agencies and also doesn't dilute in the short term and can buy back in a couple of years. caroline: let's talk about europe and consolidation. the u.s. is an enormous market where there are concerns about players and becoming three. in europe there is an ongoing call for more cross-country consolidation. do you think regulators are going to let this happen? >> they haven't in the past, and there is a narrow tight rope to tread. to get some more pricing power but also does and what it to be vodafone, it wants it to be someone else. i think we see it in france as well, there's a deal in the works that is a big question mark. in germany the argu

vodafone buying the eastern unit -- unit from liberty.e will be talking about that and other stocks we want to focus on. this is bloomberg. ♪ ♪ matt: welcome back to the european market open. i am matt miller in bonn, germany alongside guy johnson in london. we are minutes from the open. joining us, casper. the iran deal is front and center but another deal out this morning, one that has been agreed. vodafone and liberty. how do you expect this to affect markets? >> it will be interesting. germany is the big focal point here. deutsche telekom and vodafone's this have clashed over arguing it would harm the consumer position. that wille deal dominate the discussion for a wild when we go through regulatory scrutiny and see what happened next. i'm sure matt will stoke that fire when he talks to deutsche telekom's ceo. which company will be affected by the iran deal this morning? have 90 million there in a natural gas field. -- perhaps exposed too. not a positive thing for them. -- is it arry positive thing for burberry? are a bigrberry invest

it is not just vodafone that will be buying assets from liberty. is also getting in there to take up what it can. i will last him if he thinks he can get more and if he thinks the deal is going to go through. deutsche telekom also has a deal at stake. very important to ask existence that it needs to get through. the t-mobile u.s. unit is buying sprint for more than $26 billion and that is key to deutsche telekom's earnings growth here. little sales decline because of the stronger euro in the first quarter. it is boosting its outlook for full-year operating earnings to 23.3 billion euros. a lot of that comes from t-mobile's growth in the u.s.. that u.s. unit has added one million customers are more for the last 20 quarters in a row and it is going to need to build out an expensive fifth-generation network in the u.s. if it needs to continue that can -- kind of growth. germany, the ceo has a lot to think about. this deal willn provide to him in eastern europe. earnings at home and building out a faster internet on the last mile. politically, this is

dominance are maybe said to go up this see you all vodafone stated that he believes this transaction will create the first truly european champion of competition vodafone also stated that combining the company's operation cost could be safe for at least the five hundred thirty five million euros shareholders of vodafone were appreciating this news their share price was going up by daughter telecom those shares have been suffering today they are the biggest competitors and are down here at the roots of index tracks with about one point two percent that you put in frankfurt thank you so much all right sarah yesterday it was about iran now the focus is on north korea absolutely we're going to asia actually just generally speaking because there's a lot going on in the region at the moment first of all u.s. secretary of state my pompei o has traveled to beyond gang ahead of a planned summit between president trump and north korean leader kim jong un pump aoe is there to finalize plans for the meeting and press for the release of three american citizens dealing with p.r. is also at the top

dominance are actually set to go up to see all of vodafone stated that he believes this transaction will create the first truly european champion of competition vodafone also stated that combining the company's operation would generate cost savings of about five hundred thirty five million euros a year before the integration by the fifth year after the deal completes the shareholders of vodafone group appreciate the possible merger shares off the group are up this morning with a quarter percent write down your quote there in frankfurt thank you so much. i'm bryant's time to whether smoking and even in doubt he says i'm your monica they can't film festivals got under way in the french riviera there's no shortage of controversy this year but that isn't stopping fans from turning out for the show. it's bumper to bumper outside cannes famous film festival palace from up here. jostle with fans straining to glimpse the stars on the red carpet film buff martine is chuffed to be here again second. i've been coming here for more than twenty years because i love actors and the cinema right no

let me bring vodafone up for you. share price, you can see it , the company will buy that european unit for $22 billion to be at it is down 10% this year. the read across, this asset grabbing by vodafone, they will challenge deutsche, in their home market. matt miller brings us that exclusive story later on. coming up on "bloomberg surveillance," we will hear from the biggest long-haul carrier from the europe -- arab emirates. frome next hour, we hear deutsche telekom chief executive. getre we get to that, let's to the bloomberg first word news with nejra cehic. nejra: vodafone has agreed to .uy units from liberty global the u.k.-based telecom giant will by the cable network in germany, as well as the check and hungarian. the move shakes up the region and signals a retreat by u.s. millionaire john malone. deutsche telekom has raised its forecast on growth in america. afterrman carrier, t-mobile added more than a million customers for the 20th consecutive quarter. t-mobile todeal for take control of sprint remains in f

vodafone beat expectations and had core growth forecast of 5% in 2019. iliad shares down almost 15.5% shares have touched their lowest level since december 2013 after the french telco group missed forecasts. they have also named thomas renault as new cfo effective may 21st shares down a whopping 15% and dragging down the rest of the telecom sector easyjet up 3%, they reported a narrower pretax loss for the half year and said it expects positive revenue per seat in the second half of 2018. the ceo said he was watching developments in the oil market >> we have a policy that's really, you know, flattening out some volatility around that. we are well hedged compared to other airlines out there as you see oil prices will increase, our model is very efficient. we have new aircraft which burn less fuel. that means we compete well when the oil prices go up, compared to others, who tend to ground their aircraft, and the competitive pressure will be slightly easier. >> italy's ten-year yield has risen to the highest level in two months after the five star and lega

let's start with the vodafone story that sally mentioned.ing in, what is your take? i know sally particularly loves it when a ceo leaves and the share price drops, it means for once a ceo was beloved of his company, presumably rarely happens. he has been never pretty much a decade. what is interesting, however, and this does not seem the reason for thejump or this does not seem the reason for the jump or the push, this does not seem the reason for thejump or the push, is that this does not seem the reason for the jump or the push, is that over the jump or the push, is that over the last five years vodafone's share prices down i3%, not great since there was a massive bull run. the ftse was up i6%, so almost 30% gap between their performance and just rising with the tide. you would have thought might have gone earlier, but they have turned from being in the red last year to being in the black this year, not least helped by losses which were no longer accounted for this year which were caused by those pesky indians who had charge them retrospec

." >>> vodafone is buying parts of liberty global for $23 billion. >>> facebook announcing its biggest executive shakeup ever. >>> and maerns pitriners pitches paxton throwing a no-hitter last night, but why it's the first no-hitter of its kind in 73 years. it's wednesday, may 9th. "worldwide exchange" begins right now. ♪ >>> good morning, everybody. i'm brian sullivan thanks for watching from wherever in the world you might be it's a very busy news day and market day as well pretty much everything is on the move look at this, you have dow futures, it's early, already indicating a jump of 140 points at the open. the nasdaq and the s&p 500 are also indicating a jump even with this happening, ten-year yields making a big move for bonds, up about 5 bips that means bond yields are back over 3%. you can see that, just barely. that's something to watch. oil is also back higher, once again above 70 it appears fundamental concern about supply and demand is trumping reaction over the iran deal yesterday crude is trading at 71.14. that's where we begin the day. let's get to your top story, allai

vodafone has made a big announcement today. yes exactly we're hearing that the c.e.o. over vodafone is going to be parted really has been a surprise callao have lots of reason to celebrate and was praised by many inside but also outside off the company for this long expected twenty one point eight billion u.s. dollars deal to buy liberty global cable t.v. and broadband networks in germany and eastern europe all of this was announced last week if all of this gets the approval from e.u. regulators vodafone will be the biggest element telecommunications company here and europe was not really behind all of this we still don't know we might be learning more details but it's really clear that he was the face off the company and he always had the vision to make vodafone even stronger dayak open fine for thank you the dutch government has decided to phase out the use of antivirus software made by kaspersky lab says what it called a precautionary measure it's told major companies to do the same the dutch justice minister said the move was to was in response to the russian gover

it was sold in three pieces, and now they are coming together under the roof of vodafone.are building, let's say, the rural germany with infrastructure. now let's see where vodafone is now going. are they willing to invest in the rural areas? nothing is seen in the business case today on this subject. the media industry is almost 60% of our tv market is monopolized by this cable operator in the future. is this good for democracy or is this good for the media companies in society? so i question that. the last thing, 25% of our households in germany are insufficient, and there is no access for deutsche telekom. my last point is we have a fully regulated deutsche telekom in the whole market where we are building infrastructure on an annual basis. vodafone is investing less, is nonregulated, and they have claimed that they are on eye level with us on future. something has to change in the regulatory environment, because if they are a giant in this environment, as they are claiming today, what does it mean for regulation? therefore, we are asking for more deregulation for deuts

vodafone we found out is what to see a change at the top. chief executive, who was in charge for 10 years, will be replaced by the cfo come october. vodafone is also trying to buy the liberty global assets here in europe. you can see vodafone is currently don't 4.7% -- down 4.7%. our exclusiveyou interview with the turkish president and then we will be theway.by larry ha we will be asking him about the emerging markets and turkish lira. let's get straight to the bloomberg first word news. u.s. commerce secretary wilbur ross has said that america is exploring alternatives to punish china's zte for breaking sanctions laws. donald trump called into question the two truck strategy -- to track strategy -- two truck strategy. this seemed to contradict wilbur ross' . statements at least 59 people have been killed in by one clashes on the gaza border. the protest came as the u.s. moved its embassy from tel aviv to jerusalem. hamas led opposition to the move. msci has released the list of 234 chinese a-shares to be added to chinese equity benchmarks

vodafone making a bid for liberty global germany.ace intense competition in spain and italy, as regulatory headwinds really blow against them. they can news over at vodafone. the date for this ceo change is october the first. anus. manus: yes, that will be an interesting announcement for them. let's talk about the equity futures. you have wilbur ross stepping in , really blasting china for its unfair practices. we have had a slew of earnings. the futures are a little bit lower in europe. bank beat, allianz beat. will italy coalesce? will they create a new government? china showed a little bit weaker cap-ex -- numbers -- numbers. let's talk about the turkish president, recep tayyip erdogan. he said withdrawing from the arendt nuclear court and moving is u.s. embassy to jerusalem not increasing he's -- peace. pres. erdogan: you do not for your hands without just folding he hams without -- hems without seeing the strength. let's see the result first. of course we will have preparation for the results that you have described. of course a

vodafone says it's spending more than eighteen billion euros to buy large parts of u.s. based cable t.v. operator liberty close the british telecoms giant it will be buying liberty's cable and broadband internet operations in hungary and the czech republic and remain as well as its unity media subsidiary in germany the two already have a joint venture in the netherlands vodafone once known or was once known for its aggressive expansion into new countries but the liberty deal suggests it's sticking to its current strategy of deepening operations in existing markets it's likely to face strong scrutiny from regulators block chain investors are freer and blocked change technology could offer quick solutions especially in the energy sector. darkness on the streets of puerto rico island white blackouts are still part of everyday life even seven months after hurricane maria thousands of puerto rican slike want to go on a still lacking in basic things like a briefing for their heads back never the result is a rushlight their water their wardrobe when the house or their under wat

bankable footballers in the world. 31 endorsements throughout his career mo salah has deals with vodafone and uber

after their worst than a month pending oil stocks across europe higher in early trade network voed vodafone spends $18 millio to buy from liberty global. >>> and siemens second quarter results beat expectations sending shares higher. higher >>> good morning about one hour into the trading session. markets are still coming to terms out of the u.s. yesterday asian markets were mixed overnight. u.s. markets did end the day flattish the picture in europe for the broader composite is looking a bit up, up 0.2%. switching to european markets and getting into what individual indices are doing. the cac 40 is briefly in the red, but markets are looking better ftse 100 up 30 points. no real surprise there because it is a mining exposed index therefore somewhat inadvertent beneficiary of sanctions if they reoccur. we had a drop in ftse and italian assets yesterday you can see it's rebounding somewhat let's switch sectors and see where the leadership is coming from oil and gas is up 1.7%, with the rebound we see in oil prices oil is up 2% this morning. we'll get there in a second. basic resources dragge

. >> breaking news in the telecom sector, liberty global is to sell some european operations to vodafoneion deal. it includes germany, hungary, romania, the czech republic. this marks something of a retreat from continental europe for liberty global, and an expansion from vodafone. we know that deutsche telekom has broken out against the possibility of liberty selling assets in germany to vodafone in the past. let us get our next guest thought on that deal. the ago it is important to remember that these are all markets that deutsche telekom lays in. they posted a sale declined but it is boosting its outlook for a full year, operating earnings, to 23.3 billion euros. a lot of that comes from from t-mobile's growth in the u.s. tim hodgkins at deutsche telik and has a lot to think about. what kind of competition that will divide to him in germany and in eastern europe, earnings here at home, and finally, the t-mobile-rent a deal in the t-mobile-sprint deal in the u.s.. >> i think the deal is totally unacceptable. there was a time when deutsche telekom was not allowed to sell their cable bus

he sees vodafone planting a flag in his home country.els this rolls back to the days of these big monopolies that the right should telecoms have hoped to overcome, so he says it is totally unacceptable and should not happen, and will do what he can to block the deal or releases many assets as he can. on the other side, you have vodafone and liberty global, different view. says this isceo self-serving from the deutsche telekom ceo. the german market is screaming for more competition. we did hear some screaming, but not the kind he was talking about. very different views. it will be interesting to see how this plays out. a lot of optimism on the vodafone side, but it will go to competition scrutiny. david: thank you for being with us. alix: we now turn to wall street beat where recover cover three things wall street is buzzing about. , softbank'sx pas ceo spills the beans. deutsche bank considers cutting 20% of its u.s. staff. rockefeller records. rockefeller collection brings in $460 million its first auction. five more await. .avid: they

. ♪ liberty globals, to sell some european operations to vodafone in a $19 billion deal.ny, hungary, romania, the czech republic. this does mark something of a retreat from continental europe the liberty global and the expansion for vodafone. deutsche telekom has spoken out against the possibility of liberty selling out in germany in the past. germany in the past. -- they posted a little bit of a sales decline because the stronger euro in the first quarter, but is boosting outcome for full-year operating earnings to 23.3 billion euros, and a lot of that comes from t-mobile's growth in the u.s.. deutsche telekom has a lot to think about. home, andere at finally the t-mobile and sprint deal in the u.s. >> i think this deal is totally unacceptable. there was a time when deutsche telekom was not allowed to sell their cable businesses in one piece. pieces, andin three now all of the three pieces are coming together in one under the roof of vodafone. ♪ was fined over $870,000 by british regulators for his attempts to unmask a whistleblower, some suggesting it was a tap on the w

vodafone, holding the second largest corporate bond sale this year. that conversation is next.his is "bloomberg: real yield." ♪ jonathan: i am jonathan ferro. this is "bloomberg: real yield." i want to head to the auction block now. the united states treasury auctioned more than $270 billion of bonds this week. i want to highlight the two-year auction, 2.95%, the highest level since july 2008. the share for primary dealers was the highest since december. on the corporate side, vodafone selling $11.5 billion of bonds to help fund the acquisition in the second-largest u.s. corporate bond sale this year. this year, a 30-year security yield, 2.15 percentage points on the treasury. $300 million of triple c rated bonds sold, yielding 9% and they are trading above the issue price. outside of europe, the em crisis in turkey. take a listen. >> this is serious. i do not know that, all by itself, the central bank of turkey is going to be able to withstand this. >> when you have the administration saying they are going to take over the central bank, this is a country that is facing a lot o

vodafone, holding the second largest corporate bond sale this year. that conversation is next.his is "bloomberg: real yield." ♪ jonathan: i am jonathan ferro. this is "bloomberg: real yield." i want to head to the auction block now. the united states treasury auctioned more than $270 billion of bonds this week. i want to highlight the two-year auction, 2.95%, the highest level since july 2008. the share for primary dealers was the highest since december. on the corporate side, vodafone selling $11.5 billion of bonds to help fund the acquisition in the second-largest u.s. corporate bond sale this year. this year, a 30-year security yield, 2.15 percentage points on the treasury. $300 million of triple c rated bonds sold, yielding 9% and they are trading above the issue price. outside of europe, the em crisis in turkey. take a listen. >> this is serious. i do not know that, all by itself, the central bank of turkey is going to be able to withstand this. >> when you have the administration saying they are going to take over the central bank, this is a country that is facing a lot o

recalled thirty six thousand petrol powered cars two to safety concerns vodafone says it spending more than eighteen billion euros to buy large parts of u.s. based cable t.v. operator liberty global the british telecoms giant will be buying liberty's cable of broadband internet operations in hungary the czech republic and romania as well as its unity media subsidiary in germany the two already have a joint venture in the netherlands now vodafone was once known for its aggressive expansion into new countries but the liberty deal suggested sticking to its current strategy of deepening operations in existing markets is likely to face and strong scrutiny from regulators first there. the argentine peso continues its fourth sparking fears of a new ring economic crisis in the country president mary snow met korea has asked the international monetary fund for help to prevent a further drop he's looking to dodge a serious crisis remembering two thousand and one when the country defaulted on its debt the argentine peso has been in freefall it has lost eight percent against the u.s. dollar since

the ceo of vodafone ‘s leaving. easyj et, the ceo of vodafone ‘s leaving. right direction. it looks like there may be more scope for legalised gambling in the us. william has a subsidiary in the us. william has a subsidiary in the us. william has a subsidiary in the us. it's down today because we are hearing more about these fixed odds, betting terminals, something that the gambling industry relies heavily on. you can bet up to £100. we are waiting to yes that cap can fall as low as £2 and william hill thing that could cause their business to suffer. can you remember the last time you saw a rabbit in the wild? there's been a 61% drop in the number of sightings in the last 20 years according to a recent survey. to try and help keep track of their numbers, the mammal society wants members of the public to help gather information about wild bunnies with the use of a new app. tim muffett was on lookout in lackford lakes in bury st edmunds. we are looking out for a rabbit. morning and the reason doing that is because the british trust for logy because the britis

investors not so sweet on liberty global's deal to sell its european assets to vodafone. back to you. >> and bertha, thank you very much check back in with you shortly >>> we're also watching some twin threats that could put a damper on the rally. crude oil trading near a 3 1/2 year high after the president pulled out ofz the iran deal yesterday. this sparking concerns about the oil supply and tension in the middle east. the administration also reporting a fall in crude supply for the first time in three weeks. >> that second threat, the 10-year. it hit 3.01% earlier that's the highest level since april 26th plus the dow has traveled 1,000 points from thursday's lows. let's discuss further bringing in shawn cruise, tim anderson, and jeff sought. good afternoon to you all. i'll start with you, shawn, if i may. bob mentioned the ppi number, the producer price inflation, coming in softer than some had expected are you therefore surprised today is the day we went back um on the 10-year >> surprised where that rise in rates is coming from if it's coming from an unexpected pick

vodafone leading with a surprised ceo departure.ou can see quite a bit of red, buddy bit of green -- but a bit of green. looking it affects through the prism of the strong dollar, the euro dropped low in the session. 1.1859 is where we trade. the pound weaker after that labor market wage growth data. 1.3 495. yields moving higher in both the core and periphery. european yields are tracking what's happening with the ten-year treasury yield. crude went briefly about 79, it is now 78 .83. largely higher on tensions in the mideast. --ention the euro, it had hit a session low after the german gdp data weaker than expected. it extended to go below 1.19 and -- i suspect that has to do with a stronger dollar. if we look at the lira, this has been fascinating. hitting a fresh record low against the dollar when that interview with our own guy johnson hit the tape in which the president basically said he would be looking at having a tighter grip on monetary policy and we know he has a rather unorthodox view -- view that cutting rates will help

vodafone shares are rising on the back of that news.eutsche telekom is sticking with the news, also in the news today, shares down by 1.1%, after predicting higher shares on the tale of u.s. growth. t-mobile, buying sprint is for the german carrier. budget telekom shares are down by 1.7%. vonnie? vonnie: as always, we are keeping our eye on regulation and how it will affect wall street weary of the house financial services committee still looking to loosen regulations on the banking industry. we are wondering, can significant legislation be done by the midterm election? let's get to washington dc and kevin cirilli. with awe are here republican from texas, and i want to talk about something dodd-frank did, because it created the consumer financial protection bureau, which some republicans and centrist democrats have argued has gone too far. yesterday, the house of representatives voted overwhelmingly to roll back a specific provision with regards to the auto lending industry. could this potentially end up on the president's desk in the n

vodafone has made it clear it will clear its -- vodafone has made it clear it would challenge deutsche home turf -- deutschecom on its home turf. the deal rattled europe's markets. thedeutsche ceo saying that agreement will distort competition. this is bloomberg. ♪ julia: this is "bloomberg markets." i'm julia chatterley. scarlet: i'm scarlet fu. time for options insights. julie: joining me is alon rosin of oppenheimer. as we walked -- watched the action today, one thing some traders are pointing to as a trigger for stocks to move higher is the vix breaking a little lower. is that what you saw as a potential trigger? alon: what we are seeing now in some of this unexpected strength breaking out of the recent ranges, if you look back at the last week, there was a lot of selling pressure. what we think happened was a lot of hedge funds, and were grossing down the exposures in their books, taking in shorts, taking down longs, taking down risk, effectively. the two way chop has been frustrating. it's been causing a lot of bad decisions. it's forcing some long selling. what we saw was the en

group known as the european roundtable of industrialists threatened names likee bp, nestle, and vodafoneandnd tell to resume that time is running out. they warned that uncertainty causes -- genie: tesla has fixed a problem with model three cars that sent shares tumbling. stuart: there was a -- reporter: there was a problem with its brakes. the nexton reversed update, which caused me. firstdel three is tesla's market electric car. they have struggled to boost production to meet demand. genie: to wrap up, walmart is helping its staff go to college. reporter: that's right. read retail chain is offering to pay classes in retail management or business at three universities. one what 4 million staff will be eligible for the program. they will only have to pay a dollar a day for tuition. it is part of a competition these companies have to try and get staff on board and keep them for a longer time. genie: thank you for that, stephen carroll with our business update. ♪ allison johnson is with me to talk about headlines around the world. we start with that incredible twist yesterday from ukraine a

vodafone has chosen a new chief executive that's their fifth the picnic reid is currently the chief financial officer at the telecom company and a veteran deputy to the outgoing c.e.o. reads first big project will be a holdover as the company attempts to safely digest its big recent acquisition of liberty global the multinational telecom company the eighteen billion pound deal announced last week gave u.k. based botha a much stronger position to compete in the continent telephone telecom sector their biggest rival will be deutsche telekom which operates the team mobile brand. and in crypto currency news crypto currency exchange operator coin based in san francisco is taking the world crypto to high frequency trading or a chip.

vodafone released a positive set of full—year results this morning but, in what could be seen as an endorsement loss of £95 million in the six months to march. a fine for mis—selling payment protection insurance weighed heavily on the bank, just as it pursues a takeover of rival virgin money. mike ingram, chief market strategist of wh ireland joins me, and can break down what this means for the bank. and it was not wholly unexpected? they had warned that payment protection insurance would weigh heavily on the fines for mis—selling that. i do think the scale has taken some by surprise? it is the reason why the share price is currently off over 5%. last month the bank did flag, we would see this £150 million charge against ppi. but on the basis of the results that we saw this morning, let‘s not convinced that we are seeing the end of this particular story. if you dig below the underlying numbers, it looks as though the margin on their lending book is under increasing pressure. the amount of capital against which they can extend further lending is coming down quite sharply. that indicative bit of

vodafone has agreed to pay $22.7 billion for the majority of european assets owned by the us cable giantl. the uk telecoms group said it will buy businesses in germany, hungary, romania and the czech republic. liberty global owns virgin media, which it plans to retain, as well as its operation in ireland. google has unveiled artificial intelligence software that books appointments over the phone using its voice assistant. at its annual developers conference, the tech giant showed demonstrations of the software booking a haircut and then making a restaurant reservation. very useful. disney's blockbuster film black panther, has provided a boost to the company's sales. strong performance in its movie and theme park divisions helped to offset weakness in its tv operation. profits were up 23% compared to the same time last year. australia's biggest bank has agreed to pay $18.5 million to settle a rate—rigging case. the commonwealth bank of australia was taken to court by regulators in january after allegedly manipulating a benchmark used to set the price of bonds and loans. the bank admitted

business leaders, including from bp, bmw, nestle, and vodafone, told theresa may that "time is runningth korean prosecutors have raided the headquarters of korean air lines, over suspected embezzlement by members of the family that owns it. the company has not commented on the story. leisha sa ntorelli is across this for us, from our asia business hub in singapore. it's not the first time they have beenin it's not the first time they have been in the headlines, this family? no, this family has been in the headlines for all of the wrong reasons. let's start with the father, he is accused of evading taxes, based on an inheritance he got from his late father. today investigators seized documents at the headquarters of korean air following allegations that the entire family may have embezzled nearly $20 million. bad behaviour does not stop there. his wife was questioned by police this week over allegedly assaulting employees renovating her house. and of course the most famous incident has to do with the oldest daughter who served time injail afterfour years ago forcing somebody to turn aro

royal dutch shell and british petroleum were in talks to develop the oil industry telecoms company vodafone wanted to invest in the mobile network attach a bottle has more from paris. or french government ministers have been working very hard on a plan to try and reduce minimize or even get rid of the impact of u.s. sanctions on french companies working in iran there's a sense of urgency here certainly a sense of frustration we heard from the french foreign minister a bit earlier saying europeans should not be made to pay for the fact the united states has decided to pull out of the iran deal now we have a host of french multinationals that have been working with iran ever since sanctions were lifted in twenty sixteen we're talking about companies like car makers renault citron drug companies sanity and of course energy giant hotel that has invested very heavily in gas fields in iran french finance minister bruno lemaire has been very busy trying to rally people around he says europe needs to step up and do more and he says france is going to try and present some measures to block these san

you don't realize you're already using it if you're a one plus one or telecom vodafone arc or france telecom consummate and use their mail program or calendar you're already using our system you know what about your profit that we earn a living by offering professional support services to keep these systems up and running you know we only get paid by about one in every ten thousand users are on the run but they're very big and we earn enough from them that we can provide our services to the other ninety nine point nine nine nine percent are free of charge. not a good business it is yes we are growing forty five percent per year for the last night. and for the. open source software has long been standard in private corporations the global giants of the digital economy such as facebook amazon google pay pal only use open source they would never give their competitor microsoft access to their information technology. but european governments continue to submit to the old monopoly signing one contract after the next. these contracts stipulate the terms and conditions for the government ag