. >>> wpp trades near the top of the stoxx 600 as the ad giant says it will slash costs as part of its 300 million pound turnaround plan. >>> apple's frankfurt shares are higher as it looks to overturn a qualcomm case ruling that sets an import ban on a number of iphone models in china >>> all right. welcome to "street signs." our top story today, no surprise here, we'll talk about sterling which has dipped to a 20-month low versus the dollar. this is after theresa may called off a vote on her brexit deal at short notice yesterday sparking anger and criticism from across parliament >> the british prime minister conceded that it would be rejected by a significant margin of lawmakers as she vowed to head back to brussels to fine tune aspects of her agreement. >> we have willem standing by in westminster, silvia in brussels. a lot to get through willem, let's start off with you and run us through the events of the last 24 hours, specifically i want to ask you about the timing essentially what we found out from the house of commons yesterday -- and they were running a live twitter commenta

wpp and carpetright are the two big move rs wpp and carpetright are the two big movers on the ftse today — our top story... british prime minister theresa may is in the hague, on the first stop of a european tour to try to rescue her brexit deal. the pound slumped on monday, as she postponed a key parliamentary vote on the deal, in the face of a crushing defeat. she was worried about that. she will now return to brussels to try to get some concessions, but can she get them? now let's take a break! now — holidays often have the power to inspire us. see new things, experience new cultures. eat a new types of food. well, our next guest was so horrified to see a beach in thailand drowing in plastic, he came home and vowed to do something about it. one study says around eight million tonnes of plastic waste find their way into the world's oceans each year. and those bottles, packets and wrappers are used just once, but can take at least a50 years to break down. so what's being done? well, a year ago all 193 members of the un pledged to cut the amount of plastic that ends up in the sea. and ou

and wpp is embacking on a major restructuring. the world's bgest advertising agency plans to cut thousands of jobs andhut or merge almost many 200 offices. e decisio comes plonts after the disparate you are yur of the founder and ceo. shares of wpp climbed to 52.38. >>> we told you yesterday that thousands of verizon workerless agreed to voluntary buyouts today we know how much it costs hee dow component. the company saysrice tag could be about $2 billion. and it will be recorded in the fourth quarter. it will take a $4 billion charge related to the oath media business. verizon shares rose 1% to 58.85. biotech portola pharma said its treatment for bledding which is approved in the u.s. will be reviewed by europeanrefficials beeing given the green lightly. officials are seeking additional information regarding the mpany's marketing applications. investors were disappointed and nt the shares lower by more than 6% to >>> and after the bell american eagle reported another quarter of same store sales growth. but it wasn't good enough t

what do you see in wpp today?has its investor day and time,re sharing ahead of they are reporting some positive news. they are fast the outlook already looks better, a growth down .51% -- .5 of 1%. -- they are announcing the financial impact of their restructuring, they will see a 300 million pounds spend over the next three years as they seek to boost their digital, this is something that their epp has been criticized for. they are seeing the effect of that take hold. much.thanks very thank you both for joining us. you can get all the latest stock stories at first go. the bloomberg open is next. ♪ ♪ matt: we are less than a minute away from the opening of cash equity trading. first off, looking at currencies here. we see the euro rally a little bit against the dollar. the pound gaining a little ground against the dollar as well, although still at a very low level. .2573 right now. asian stocks turned around and rallied. we saw the csi 300 come back after a dip. oil continues to show weakness. we see brent crude a

wpp also telling investors it will maintain and prioritize its dividend over buybacks and deals. >>>to huawei's cfo continues today. the executive spent the weekend in a canadian jail she was arrested on december 1st and is accused of helping huawei dodge u.s. sanctions on iran. >>> and google's ceo will take the hot seat this morning testifying about privacy, transparency and content bias. the company's handling of user data and its development of a search engine in china are likely to be topics of this testimony. back over to you >> thank you very much now let check your top headlines in the world and national news phillip mena has those >>> the environmental protection agency is expected to announce plans to roll back obama-era clean water guidelines which would weaken protections of u.s. waterways and wetlands from pollutants golf course owners are set to benefit from these changes the epa has been working to lift the regulations since mr. trump took office. >>> firefighters battled a huge blaze at a baptist church in dallas last night. witnesses captured video of the flames the

thiss of wpp rose the most april.oogle ceo supports privacy legislation and denies the company is politically biased. that is according to a transcript he will deliver to congress. he also promised to work with the government to keep the u.s. secure. the house judiciary committee is holding a hearing about data collection and other issues. a ruling by a chinese court may push apple and qualcomm toward a settlement of their long-running dispute. the court has issued an injunction against the sale of several iphone models, saying they infringe upon qualcomm's patents. cases in similar germany. apple has stuck using qualcomm chips and no longer pays licensing fees. that is the bloomberg business flash. british prime minister theresa may has put off the vote on brexit in definitely, which makes some think the chance of no brexit at all has gone up. newby,ome lord richard the u.k. house of lords leader of the liberal party. thank you for joining us today. >> a pleasure. david: we have jpmorgan out overnight saying they thi

shares of wpp are higher this morning.ing to spend about $382 million over three years to revamp its operation. mark reed trying to stem a slide in sales and profits >>> and a bail hearing for huawei cfo meng whanzhou continues today. a judge will decide whether she could be release on bail her arrest has sparked worries that it's going to derail some trade talks between china and the u.s. but we've had -- i don't know. i've seen lighthizer say it's unrelated. i've seen larry kudlow say it's unrelated. some other countries have pointed out that there is some of the actions with iran definitely violates sanctions. so it really has nothing to do with that. >> it has to do with us enforcing the iranian sanctions. >> exactly but it definitely po'd a couple people in china. >> everything's related. as we knew with the talks with korea, north korea earlier this year everything is related to everything >> right >>> meantime, check out some of the biggest auto stocks this morning. china is moving towards cutting its tariffs on u.s

shares of wpp rising the most since april.ceo supports privacy legislation and denies the company is politically biased, that is according to a transcript that he will be delivering to congress later today. also promising to continue to work with the government to .eep the government secure a billionaire hedge fund managers says volatility in or may not be good for investors who hold long-term positions. this might be a better time to be a traitor than just hold. told.der then just it could just be an enormously volatile. with a lot of -- volatile period with a lot of back-and-forth. thank you so much. we are back your in westminster. we have a lot of things to talk about. first of all, populism. we now understand that the also above thes italian budget because of what emmanuel macron said to his people. tom: italy has got to be loving it. francine: probably. we did have a couple of headlines. let's bring you back to robin and then. -- ben. thank you both for either sticking around or joining us. what does this all mean for eq

shares of wpp rising today. in china, a megamerger in the works.have learned that executives for the two companies have completed the work for the deal. it could be announced in the coming weeks. that would create a oil and chemicals giant with more than $100 billion in assets. and american business schools took nine of the top 10 spots in the annual rankings. stanford was number one, followed by penn, harvard and mit. the only non-us school was in switzerland. that is a look at the biggest business stories. vonnie: ok, the s&p 500 is up .5% as we bounce back, but still off the highs of the day. twitter the best-performing stock in the s&p 500 today. and the 10 year yield at 2.8. 2.85%, pretty much unchanged. the sentiment around the market has not changed. the dollar index continues to strengthen. we are a what at 97.5 on the dollar index. a weaker british pound and euro, mostly to the credit the u.s. dollar. crude futures are up, trading at $51.70, pretty amazing about turn for crude oil. several bouts of the volatility for that. that in the last

the entertainment come is like disney, the broadcasters like cbs, and the advertising agencies like wppy-tv ecosystem declines, everybody feels the pain. you might be asking is there any company that is benefiting from this trend, that would be netflix. netflix stock is up about 25% this year. almost 400% over the last five years. subscribers are actually growing. they are getting a lot of these pay-tv subscribers that are leaving. they are really benefiting. that is another chart for another day. caroline: no wonder they have analysts said -- saying by the stock. brilliant perspective. i love both of them. had a on the news and she great perspective in terms of trying to ease the markets tension when treasury secretary mnuchin was adding fuel to the fire. i will give it to our debut of the day. what a fantastic set of charts and what a clear trend that we will see throughout 2019 as well. paul sweeney. from london, from new york, this is bloomberg. ♪ bloombergthis is markets. what a day for the white house. u.s. regulators briefing steven mnuchin today on their plans to monitor the mar

five advertising agencies with the top media companies and still need to add communication companies wpp, ipg, disney, time warner, fox, cbs, viaco warner, fox, cbs, viacom, comcat and charter and dish all merged into one giant company that would still only total 90 percent of what google and facebook together are worth. so does the commission have concerned about that tech and how do they and with that power? >> think you. with the antitrust context we are concerned about exercise of market power that's where you want to look for your investigations. and let me say this also that the fact they are big doesn't mean it's a problem. but if you got big by being bad that is something we need to prohibit and stop i will just add that if you talk unless they can sell that company to an existing larger company and that makes me question if we have a really competitive innovative economy where investors put money only into ideas they can sell to the existing incumbent? we should have an economy where people are investing with challenge and real rivalry and i worry about where companies are tryin