where covering vodafone and -- we are covering vodafone and [inaudible] is good news for investment bankersave not seen deals like this coming to the table, vodafone is raising 4 billion euros worth of pound denominated convertible bonds and this is so they can fund the acquisitions of liberty global's german and eastern european assets. it helps vodafone not way up its balance sheet because this is an equity instrument. if the terms are right, investors could like this deal but what it does is it potentially dilutes vodafone shares so they said they may come back and do our share buyback to mitigate that. anna: this is something we need to focus in terms of equity market reaction so we will do that. this is a read across from the u.s., this story. right, european companies will be in focus when markets open. they have had disappointing forecasts. estimating raising concerns over its capability to keep its growth space. names such as sap or micro focus could feel the read across, the sector is being called down 2%. anna: tell us the news that broke up after hours. >> the news is they -- the

frequencies kicked off with a rather old fashioned time piece behind closed doors for contenders vodafone touch a telecom telefonica zero two and united internet one n one put in their bids for the forty one frequency blocks up for grabs the first round garnered nearly three hundred million euros the german federal network agency expects the final sum of several billion euros five g. offers data transmission speeds one hundred times faster than current l.t.e. networks this will be key for technologies like driverless cars and the control of complex industrial machines. and enormous but and say it's enormous potential here in germany as an industrial nation wants to be part of the gigabyte society and at the forefront of industry four point zero we need these frequencies on the market quickly for industry to develop business models. quickly is the operative word china and south korea have already arrived in the five g. age this five g. bus service has started operation in the chinese city of non ning offering passengers ultra fast internet and tell medicine over thousands of kilometers is

driving or the so-called internet of things now so far the bidders are deutsche telekom british vodafone and spanish telefonica as well as german newcomer one and one in other parts of the world five g. has already taken off forecaster for one hundred one hundred twenty million subscriptions in the asia pacific region by two thousand and twenty one that's followed by north america by forty eight million with europe than in third place twenty two million subscriptions by twenty twenty one and then bring up the rear latin america with three million and africa with two million subscriptions and let's go now to our business correspondent paul christian brit's who's standing by in mines germany where the auction is set to take place paul you're there right now with this auction taking place does this mean that five g. is right around the corner for consumers. well steve we have a huge high above five g. but you know the super fast internet isn't going to come super fast the operators that. are are looking for the frequencies right now there are required to cover ninety eight percent of the co

autonomous driving possible on a wide scale for example so far the bettors are deutsche telekom britain's vodafone spain's telefonica and newcomer a german newcomer united internet it's brand one and one has no network of its own . in other parts of the world five g. has already taken off in asia pacific region there are forecast to be around one hundred twenty million five g. subscriptions by two thousand and twenty one now we're vendor ericsson expects north america to be in second place with forty eight million subscriptions followed by europe which one and two million subscriptions lead america will start off with just three million and africa in the near east with two million. and let's talk now to our financial correspondent frankfurt conrad booze and. conrad big auction today how much money is this expected to fetch and how telecom carriers how much money do they stand to make from these networks. experts predict that the auction will fetch an amount between three and five billion euros which is far less than the carriers have to pay at previous auctions you know at the beginning of the cen

would make autonomous driving possible on a very wide scale the better so far are telecom britain's vodafone spain's telefonica and a german network. they currently don't have their own network there are a new comer now in other parts of the world five g. has already taken off in asia pacific region for example they are forecast to be about one hundred twenty million subscriptions that by twenty twenty one now work supplier ericsson expects north america to be quite. a bit support behind it forty eight million subscriptions by then followed by europe with twenty two million latin america just three million and the middle east and africa at about two million subscriptions let's find out more now to do that we're joined by stephen beardsley from d.w. business good morning to you stephen this is a key technology isn't it five g. is set to dominate the future of communications absolutely and sometimes it's hard to parse high from the reality here as you mentioned to bring something like autonomous driving on a wide scale you're going to need five g. network to have something like remote surgery

last may, vodafone agreed to buy the german and eastern european units for $22 billion. that's your latest bloomberg business flash. guy: still ahead -- european bank shares lower. why? the money laundering scandal is widening. it's pulling in a whole load of new stocks, as you can see, trading down out of austria. the royal bank of scotland is trading down as well. i.n.g. under pressure. we will come back to this story next. this is bloomberg. ♪ want more from your entertainment experience? just say teach me more. into your xfinity voice remote to discover all sorts of tips and tricks in x1. can i find my wifi password? just ask. [ ding ] show me my wifi password. hey now! [ ding ] you can even troubleshoot, learn new voice commands and much more. clean my daughter's room. [ ding ] oh, it won't do that. welp, someone should. just say "teach me more" into your voice remote and see how you can have an even better x1 experience. simple. easy. awesome. vonnie: live from new york, i'm vonnie quinn. guy: and from london, i'm guy johnson. let's check in with first word news. k

possible on a wide scale the bettors for this lees licenses are so far deutsche telekom britain's vodafone and spain's telephony co as well as a german newcomer united internet its brand called one and one has no network but so in other parts of the world five g. has already taken off in the asia pacific region there are forecast to be around one hundred twenty million five g. subscriptions by twenty twenty one network supplier ericsson expects north america to be second place with forty eight million subscriptions by then followed by europe with twenty two million latin america will start off with just three million subscriptions and africa in the middle east with two million. it's well here in europe a controversy is a company in the build out of the five g. network almost every major telecom carrier says they need equipment from china is why the way to control costs and meet deadlines but the u.s. has been pressuring its allies to prohibit hallways components here's why. remote brain surgery in china the patient was in the beijing hospital the neurosurgeon three thousand kilometers away

vodafone saying the past couple of days that you know not using weiwei could potentially delay five g. deployment by you know a couple of years in europe so that has big political and economic ramifications that are going to be you know will eventually overtake a lot of the technical issues danielle good to talk to you many thanks indeed thank you finally this week the drug industry maintains where not the villains pup the price of medicine is on the rise drug manufacturers a profiting and patients are at risk for example the price of insulin invented in one nine hundred twenty three it costs hundreds of dollars a dose and the price keeps rising the alarming rise in the price of pharmaceuticals is becoming a heated political issue in the u.s. as alan fischer reports from washington the unusual public hearing after the drug companies asked for it to be in private is a sign america's congress is running into patients over the price of drugs we here in congress are exploring legislative options to determine companies to deter companies from engaging in these practices they keep drug brac

vodafone saying the past couple of days that you know not using weiwei could potentially delay five g. deployment by you know a couple of years in europe so that has big political and economic ramifications that are going to be you know will eventually overtake a lot of the technical issues danielle good to talk to you many thanks indeed thank you finally this week the drug industry maintains where not the villains pup the price of medicine is on the rise drug manufacturers a profiting and patients are at risk for example the price of insulin invented in one nine hundred twenty three it costs hundreds of dollars a dose and the price keeps rising the alarming rise in the price of pharmaceuticals is becoming a heated political issue in the u.s. as alan fischer reports from washington the unusual public hearing after the drug companies asked for it to be in private is a sign america's congress is running into patients over the price of drugs we here in congress are exploring legislative options to determine companies to deter companies from engaging in these practices and keep drug brace

on the government is by selling off these frequencies that the major carriers like telecom like vodafone that they need to provide to provide the five g. network that that's what's happening today it's going to cost significantly more for each of these carriers to build out their network as much as three hundred to five hundred billion euro for all of europe that was an estimate by deutsche telekom their chief recently so very expensive prospect but they also hope to make a lot of money on it in the future the government doesn't and while way is the main player in five g. globally isn't it and they have a main role to build out or could potentially absolutely brian they're they're one of the furthest along probably in terms of network hardware so this is the major hubs sort of the basically the joints of the network that these carriers are going to be installing that means that all these carriers i assume all of them are going to rely on while way in terms of cost in terms of technology it's better than the rivals you would see such as ericsson things like that those would be more expens

autonomy striving possible on a wide scale while the biggest so far are deutsche telekom britain's vodafone spain's telefonica and a german company. it's a newcomer to the market doesn't have any network of its own now. other parts of the world five g. has already taken off in the asia pacific region for example there are forecast to be about one hundred twenty million five hundred subscribers and about two years time by twenty twenty one network supplier ericsson expects north america to be following to be trailing in second place with forty eight million and that's followed by europe with twenty two million and latin america with three million the mena region the middle east and africa with about two million subscribers expected by twenty twenty one we're joined now by stephen beard he's been following this very closely today from d.w. business hi there stephen o'bryan d.w. set to be a technology that will be dominating the future of communications were right absolutely five g. is going to make everything possible from what you hear from the hype from autonomous driving to remote surgery

a warning from vodafone, the phone network says if it's not allowed to use equipment from the chinese huge cost to the uk. the us has been putting pressure on its allies to shun the telecoms giant, claiming it would spy on behalf of the chinese government. huawei rejects the accusation and is suing the us government over a ban there. apprenticeships are something the government has really been pushing in recent years. in fact, their target is to get three million people into paid apprenticeships by 2020. to fund that, in april 2017 they introduced an apprenticeship levy. any employer with a total payroll of more than £3 million a year pays 0.5% to fund the on—the—job training programmes. but, through a freedom of information request, the training and skills group city and guilds says it's discovered that there is £400 million remaining unspent in the fund. let's talk to kirstie donnelly, managing director at city and guilds group. why has this money not been used? it is complex. the freedom of information request we submitted it showed there was a 400 million in 2017 not used. the nat

vodafone saying the past couple of days that you know not using weiwei could potentially delay five g. deployment by you know a couple of years in europe so that has big political and economic ramifications that are going to be you know will eventually overtake a lot of the technical issues danielle good to talk to you many thanks indeed thank you finally this week the drug industry maintains where not the villains pup the price of medicine is on the rise drug manufacturers a profiting and patients are at risk for example the price of insulin invented in one nine hundred twenty three it costs hundreds of dollars a dose and the price keeps rising the alarming rise in the price of pharmaceuticals is becoming a heated political issue in the u.s. as alan fischer reports from washington the unusual public hearing after the drug companies asked for it to be in private is a sign america's congress is running into patients over the price of drugs we here in congress are exploring legislative options to determine companies to deter companies from engaging in these practices a key drug braces h

the us is still pushing on with this campaign to get its allies to ban huawei but vodafone said it wouldg thing here is the pushback going against the us and their attempts to clamp down on huawei. 0bviously their attempts to clamp down on huawei. obviously the justice department has been pushing nations to stop using it. but it has been undercut somewhat by this idea that maybe just maybe what the president is trying to do is use this as part of the trade negotiations, and even he has said that if a trade deal was done, things could be slackened off. and even now there has not been an executive order to actually stop huawei in the us. i think the problem is not necessarily whether it is right or wrong. it is the messaging. the idea of hold on, are we just part of a broader trade deal? i think that is the issue. good to get your thoughts, simon. thank you for being with us and thank you for being with us. thank you for your thoughts on the question of whether social media firms need to do more. follow that online. goodbye. good morning. we had a lot of rainfall over the weekend, in some

letter written by the management of new zealand's three large telecommunications companies they are vodafone spark and two degrees written to the management of facebook twitter and also. google saying that these companies need to be doing more they are calling for change and they want these three companies to urgently discuss a solution to the problem of videos such as the live footage of the attack in christchurch so clearly the pressure to go along very early here not only like i say from the new zealand prime minister but also from big business here we're in thank you very much for that for now and that's in hayward the very latest live in christchurch thank you. to the us now where prosecutors are looking into how the bottom seven three seven max eight aircraft got the green light on the country's aviation regulator a subpoena for emails and other correspondence involving the jet's development has been issued by a federal grand jury investigators have found similarities between last week's crash in ethiopia and another in indonesia five months ago on all involved seven three seven planes

vodafone putting out a convertible bond into the market, part of the liberty acquisition, and the marketking it well as the stock is trading up 2.3%. campari out with numbers. it has been selling very well. the comps are getting so difficult now, that they are pointing in the fourth quarter to a slight slowdown in sales. but the numbers have been so stellar, and the market is knocking it down by 6.62%. london outperforming on the volume side today. the continental market a little less so. light volume across europe today, although we did see it tick higher when the volume story turned more positive. we can show this to you. we saw the pound go down. volumes point here, ticking up as greater volume was going to the london market. and we are still trading a little bit lighter compared to the 30 day average. vonnie: here in the u.s., the top markets moving include brazil giving back some gains. pension reform is a little iffy in brazil. but there are plenty of positives on the country as well. ubs buying reads. and we mentioned the stronger dollar earlier. some currency is affected by that,

. >> vodafone, sirius xm which selected us last year, ing, the major dutch bank and we're helping them the key processes. firms like paypal, national australia bank which is undergoing a transformation, cisco. we are honored that these companies are coming and sharing their stories about lou they're transitioning their businesses. >> you are moving into crn and that's right up against sales force and it's a very powerful opponent how do you go up against a sales force in windows >> a couple of dint things one, we compliment sales force in many settings because if you think about it, sales force very much presents a facade, a front end that can present information. you've got to hook that in to the sort of execution of work. how do you really go and fulfill that request for the customers and the major sales force customer like unilever selected us new last year >> i never know about what he's doing with sales force he brought in pegasystems, too >> because we do a good job of complimenting them and getting work done. some customers choose to use us all of the way through end to end and

the mobile telecom company will may securities -- last vodafone agreed to buy liberties eastern europeanlion. a finding at google that the company paid male employees less than women for doing similar work. this coming at a time when the labor market is investigating whether google systematically under pays women. -- that isid not your bloomberg business flash. david: time for follow the lead. a deep time into stories making headlines and moving markets with key insight from industry veterans and insiders. all of this week will be taking a close look at state that. alix: today we will look at illinois. the state is projecting a budget deficit of $3.2 billion. it's big problem is pensions. $134 billion in unfunded liabilities. joining us is sean carney, iscklight -- -- joining us bloomberg management editor. walk us through the nuts and bolts of how bad illinois debt system is. >> one hundred $34 billion unfunded pension liability. the state spends a quarter of its budget trying to pay off those debts. it is 40% unfunded. it has impact beyond the state capital. just last week in the first

vodafone plans to sell about $4.5 billion of convertible bonds to help pay for its acquisition of some units. it will sell the securities in two tranches. that is the bloomberg business flash. francine: thank you so much. the renault chief executive says he doesn't want to comment on the downfall of his former boss, but instead on meeting business targets for 2019. >> you can imagine that i cannot comment. priority isduty and to make sure our team remains as will us tosed execute our plans year after year. we are now in 2019 and we are on exceed our plans. we did not find anything wrong, anything nonconformity except we are sorry about oversight. -- versailles. we will finish all investigations by the of this month and we will know everything. matched joins us -- matt joins us now. what did he say about the alliance? : he did say it makes a difference and he says they will continue to work together with nissan in mitsubishi. he was showing me their new car behind him what was the first car completely of the alliance. the entire platform was built by and for the alliance. he said in the

vodafone's chief technology officer has said a ban would also require his company to strip huawei?one says there is no evidence to show that huawei is spying for the chinese have meant. some critics to question help free any chinese business can be from beijing's influence. they point out the founder of huawei, was a former engineer in the country's army and joined the communist party. and while they are in this bitter row in the us? yes, they are suing the us government. let's talk to our correspondence. what basis are they suing the government on? they are alleging that the ban on huawei is really going against a clause in the us constitution. now huawei has put forth a lawsuit to try and challenge that manner. from the american perspective, there is a lot of concern about doing business with while away especially with regards to the federal government, because of the worries about spying. any company that operates in china can be asked by the chinese government to give over that data. in the interview with the bbc, the head of huawei had said, we will shut the company down befor

vodafone doing quite well.ce has not been pretty. down 696. the only plus point is that they did not fall below the lows that we so at the end of last year. debenhams management are still in negotiation with a view to closing 50 stores. they took a £a0 million cash injection and have another £50 million rent payment at the end of this month. today‘s profit warnings on top of the other three over the past three months is not good nurse. more concerning is that if you are looking to close stores and offer something online in terms of a better online offering a rise of 2% is pretty feeble when you are looking at companies like target boasting digital sales increases of 2596. boasting digital sales increases of 25%. debenhams‘ problems are not going away and are likely to come to a crunch in the next two or three weeks. the services sector a key barometer and how the country‘s economy is doing because services encompass banks and retail.m economy is doing because services encompass banks and retail. if you look at