Allowed. Welcome. I am an edwards. I am manus cranny. I am mark barton. The ceo as died in a plane crash in moscow. With three crewmembers. It struck a snowplow on the runway. We are joined by terra line corn conan. Caroline yes. He was traveling frequently to russia. Despite the russian sanctions, he was one of the Rare International to attend the forum a few months ago. With attendees near moscow and the russian government had Foreign Investment. Represent 10 uld of the value. Here is what he said in june. We prefer to continue to develop our business to build a better understanding between countries. Hours ofe been so many time to develop relationships and destroying them because aere is something with understanding that we should stop all of our relations. Year, theythis to look for deal shale in siberia. He said that, back in july, the russian sanctions would not stop him from working on the massive project with the natural gas reserves. He said that europe could not leave live without the gas. On the frenchgure business scene and in the industry. Called a man with a big mustache. He had a good sense of humor and having chats with ceos. He was passionate about geopolitics and he was 63 years old when he died. Starting in the finance division to a share expanding, as well. It is too early to know much about this. Who is likely to replace them . He was rd 63 years old. Ago, that few months the company would look for somebody within the social group and not an outsider. Included aal name president and the chemical chief. The new Energy Division chief could be an option. Transitiona tough after the tragedy. Thank you. We were joined live from paris there. The Prime Minister is commenting france, saying they have lost a captain of industry. What is move on to earnings. We have all of the eight paint makers. The income is 259 million euros. Front,operating profits a narrow miss. Was on the good news front. The company is on track for targets this year and a 9 return on sales. If 40 return on Investor Capital and new debt to earnings ratios. Continue to be challenging. The company said there is fragile economic environments. As stable,e average versus 2013 prices. They Beat Estimates and are on track to deliver. Traditions continue to be challenging. We will discuss the numbers. Stay with us. Earlier this morning, china the growth in asia. Most of the analysts we spoke to expected a figure of 7. 3 . I spoke with tom in the chinese what fueled the surprise. Tells the numbers. It is an upside surprise. Is higher than consensus forecasts. There are doubts about the reliability of the china numbers and there are numbers like electricity and production was significantly lower numbers than gdp. My personal view is that it is interesting to make the comparison and there is no real alternative measure on the economy level to the gdp numbers. We may as well take what was said at face value. 7. 3 or the Third Quarter means that the economy has marched up in. For the first three quarters or nine months of the years. That puts them on track to get somewhere close to the target that was set for the year as a whole. View, is it a hard landing or a soft landing . Which is yours . Think we are in for a long landing. The forces that drove the growth so strongly were massive additions to the capital and scopes to expand global markets. I know some cases turned into a headwind and we have shrinking demographics and overcapacity. It is going to grow through exporting. At the same time, the government has considerable policy levers and national that is low. Will have terms and i think we will be looking at several years of a progressive slowdown, rather than a sharp allowance. What we are going to have to leave it there on the gdp data in beijing. Nine minutes until 6 00 here in london. The iphone 6 and devices were a success. Ryan chilcote is here with more. The investors seems to like what they heard. Yes. No bit. Have the expectation of 7. 5 billion. Spot was 30ight mind million does 39 million sold. A lot of them, even though they were only eight days into the , was the six plus. A bigger margin. 38 grossthem a margin for all of their sales and beat the expectations. Interesting and were up 21 year on year. The death of the personal computer and got a surprise last week. They reported that sales were up. Not so bright. They only sell 12 million of those. A book andooking for i think it is interesting, looking forward, at how their positions with the new ipads coming out in the next quarter and what they call the first quarter. This is the story. He back loads everything. New products get out there for thanksgiving. Knows, a lot of these products, you sure hope. Just a guess. That is part of it. Certainly, you dig a look at Consumer Electronics and they find that 60 of all ipads are sold in the second half of the year and the top item for consumers in the United States is tablets. A great time to have those kind of products coming. Thank you very much. , those are going to kick off the top of the hour. Designers go into a lot of these apple and smartphone vices. Join us on twitter. It needs expanding. It needs explaining. There you go. Those of the twitter handles. Join us there. The beijing beat. The chinese gdp exceeded estimates and we will take a look at what that meant for the economy. Time for the company news. The companies have agreed to terminate the merger deal. If successful, it would have been the biggest motion ever. The u. S. Treasury signals they would change the laws that make proposals attractive. They say they will buy back 5 billion worth of shares and increase quarterly evidence. They will have to pay a breakup fee. Fell more than 10 in tokyo. Warnings a new safety for nearly 900,000. To repair the devices. Airbags are a subject of an industrywide investigation. It is a problem that has affected multiple car brands. 71 to a threeyear low after the earnings forecast. 900ost Warren Buffett billion. They were struggling to adapt from a to cloud computing. It was a change that was described as unprecedented. They are warning about earnings and declines over the first time. Inchinese gdp figures came at 7. 3 for the Third Quarter and i had of estimates. Richard, thank you for joining us. Good morning. Myself are and obsessed with china ddp gdp. The chinesee economy and, the Chinese Government has kept the economy growth rate and put forward reform that was essential for the next coming decades. What about being obsessed with the figure. We are always looking at this through a western lands and see the gdp figure as a spontaneous creation of an economy. Governmente chinese measure of success at the moment . Executing the policies. Notld the media that it was in the government focus anymore. They become the secondlargest economy. The target is to improve the gratuity androduce rebalance resources so the economy can grow. What do we look at . What is a measure of success . Is it a level of investment by businesses and consumer demands, as opposed to x port demand . Is almosture everything. They have a plan and the growth rate is essential for reform. Reform, what does the rebalancing mean for the west . Demand forn less infrastructure and more for the and, as it were, consumer products. Almost everything. They have focused on import and export business and government. Xpenditure spending it is not sustainable. So, the Chinese Government has longterm sustained growth rates and is central for the future. The director of Commodity Trading trading. Stay with us. Welcome back. I am manus cranny. Still with us is the director of asian Commodity Trading. The debate is about data and we have had the debate. The other big story is about and theadow banking, preparedness of the administration. How worried are you about this . There has been an inventory scandal. It is not a country famed for robustness. The level that is most that is well within the alert limit. Talk about the environments and i know your focus. They have a big gap between supply and demand. It has been a trend over recent quarters that we have been seeing. They passed the stage and there is a big gap between supply and demand. Prizes will be for metal and energy will stop most of the commodities. I still think it is a good time to buy assets because of investing in mankind and commodity prices. What is your top pick . The base metals are down. And what is topic your least favorite . I think most are very cheap. Word in business. Dodging the bullet. I think they are cheap and have how things are going. Can you give us a copper . Big move in oil prices and other parts of the commodity arena. You have the energy costs and it may be seen. Iron ore is down this year. Do you see that happening . Consume thetime to stocks. When the time is right in the there have been twice. Thank you. The director of asian Commodity Trading. Stay with us. It is 6 26. Welcome back. We are putting life into the foreignexchange market. Go on. The aussie dollar is up. Is trading atlar 88. 12, at the moment. The Consumer Prices are expected to show a drop and the reserve bank of australia says the currency is strong. Estimates and that gave a nice little boost. It is down over the past month and came down on the near high. It is not overlyshorted. It has a nice boost. Have a look. I like the story. As we know, they changed how the. Oal industry works in industry the rupiah is strengthening. In india andit 7 we cpi inflation will hit 6 are getting a little bit of a change with the currency this morning. In london, these are the stories. Was killed when his private jet crash. Three crewmembers and the drivers died. He was attending a russian government meeting on Foreign Investments and was returning to paris. 7. 3 hirdquarter gdp rose and beat the analyst estimates. It was the lowest expansion since 2009. The Chinese Government says they will avoid broader stimulus measures and mark carney is under scrutiny as the bank of a when shut down the system that handles the daily payments. The realtime mechanism was suspended yesterday and remained offline for nine hours. They say they will investigate the cause of the destruction. The celebrity Fashion Designer has died. He is best known for dressing royalty and the cause of death is unclear at this time. He was 82 years old. Hashe Hong Kong High Court banned protesters from the district and student leaders meet with government officials later today. What can we expect this morning . Good morning. You can expect a lot of discussion and intensification as we enter into the talks that are less than six hours away. We see the temperature really rising year and how they talk about the protests that open into the fourth week of demonstrations. The chief executive accused the movement of being influenced by foreign entities and foreign countries. Called theng police area high risk, in terms of safety concerns. And, on the verge of turning into a riot. This is how they are going to formulate here. There will be two hours and 90 minute discussions between the student protest leaders and the government negotiators. The Hong Kong Federation of focusts said they hope to mostly on political reform and said it would be hard to avoid some of the topics and the reaction to the protests, including the usage of pepper spray. They say they want compromise and have taken back some of the original demands. It includes the reversal of the ruling that allowed election candidates to be vetted by the committee and they hope the government will soften their stance. The high court issued an injunction on the occupation. Will that stop protesters . Frankly, we have not seen much change here. We are standing in one of the areas here and, you see traffic is blocked to one lane. And they have been doing this for a couple of weeks. It may stay on until the talks go on. This area has been of particular concern. They call for the end of these movements. We have seen some of the worst violence since the protest began. There is a safety concern and it has been an inconvenience for a lot of people here. They hope to restore some social order. Thank you. Reporter live. Bloomberg has been speaking and theohnson conversation covered several topics in the sector. I think we should take into nosh is theia second oldest confession on earth. You combined it with the first and it makes sense. Withins spying and thetations, it allows government to protect their citizens. If you are forcing borders, you and that is where privacy in europe is at stake. We should take into account of thet and the right and 1 system and digital development. Sometimes, you have to find out what you are having to tackle of technologye you are operating with now. That has been discussed and we need to be aware that some thatudes of everyone using is at stake. It starts with the person and, we need to get educational and take into account the google and the facebooks. On net neutrality, why should i, assuming i am a big telecom company, invest in enhancing broadband capacity without advantage . You get advantages when the accepted by the council of ministers and parliament. It was accepted by the aboutsion and it talked getting startups and open internet for everybody. Take theopportunity to to present Specialized Services and make money out of it. What is out state is those up fornts and opening it everybody in between opportunities and investing more to offer those Specialized Services to make money out of it. Thank you. A great conversation there. Coming up, what is the next big idea . Investment opens the first London Branch and we speak to the chairman. It is time for the company news. U. S. Drugmaker is in and activist shares climbed in trading in new york. 900,000 euros car owners are keeping passengers out of the seat until passengers can repair faulty airbags. There are investigations of reports of some airbags malfunctioning. The biggest drop since listing in 2006. Interview, they about the decision to stay out of the apparel trend. I think retail is an art and a science. You have to have both. Differentiate, perhaps something that is not available and you eventually lose because someone will sell it for cheaper. The London Office and extending the Evergreen Funds for the first time. For more on what they are looking for, we welcome steve leonard. Talking about the announcement. You are in singapore and the fund is in single or. You to london tomorrow london is a great place for many things. There are great startups and innovation here. There are great universities and lots of research that goes on stop so, all the dynamics building a great start up is right here and that is a Natural Partnership for us to extend. What can you offer the startups in london that is unique . What is the flavor that is going to help . We think of singapore as a gateway into lots of asia. There is plenty of money. We bring the Extensive Network across asia and we know a lot of investors and builders. So, we seek to be a great teammate and partner to london and have aspiration to Bring Technology and growth into asia. But tell us a little bit about the startup boot camp. It is a hot topic at the moment. Tell us about investment. They are doing great things and we believe that singapore is a hotspot for the financial industry and a partner. We are working to make sure that the startup boot camp bring some of the offerings into singapore and we are doing the first bridge buildings in a specific way. We extend into other markets, as well. We talk a lot about smart we have numbers. Singapore was to be a smart nation. Tell us about the plans and what is going to be monitored. How is it going to be collected and gathered . Once this is important because we say there is a lot of smart cities doing exciting things and we believe that singapore has the unique opportunity to be a smart nation. We are looking at the research and universities. A lot of the startups and investment capital. Part of the role that the organization has, of which they are a survey city area best subsidiary of which they are a subsidiary is not about monitoring. It is about a dashboard. You think about formula one and the metrics to improve the performance. We like to think about what we can do for energy and health. We have a lot of challenges because we are denselypopulated. This is about ships in many ways. There are sensors everywhere in every city. Whether it is saying it is 32 degrees. There is a big network and we seek to make it smarter and gather data more hopefully. Them provedo to performance. It is not putting a sensor on everything. You said it is not about that. It is about a dashboard. It will be an intrusion on privacy. That is a key subject. Important. We think about it and the data that is private. Iwant to make sure that protect the data from anyone. We have anonymous data that is important and i see to protect the privacy of the person. Data ore privacy of the the individuals . Anonymity lot about and that is important. We have a legislative act and, more poorly, we try to communicate what this is used for and how this can help. In what way is your life better . Whats there will always be a group of people who say what does that mean and could a bag i. O the following it is about making sure there is robust protection. And whatntioned uses other priorities are there. Is it Health Question mark monitoring . What are the Big Questions give us the flavor. The Big Questions . Give us the flavor. It has to be high on the agenda. We think about the challenges of the trends and the aging population. Hat has implications we speak with different governments and everybody is saying, how do i care and protect citizens more effectively. All of the cover stations are being had. Great to have you with us. We wish you well. The Evergreen Fund is opening their doors today. 6 49 in london. These companies have a lot going for them. Years of experience and plenty of money. When it comes to innovation, it can be hard. One of the Biggest Companies has found that own innovative solution. Elliott gotkine reports. It is difficult to avoid the startups. It is bursting with them. You have the Global Media Group and other weird and wonderfully named startups. Another one is cocacola. Once we start a program that helps young startups in israel and around the world commercialize their products so that we can take advantage of them. Startups for their pilot programs. Screeningted mobile experiences. You can hear girls choosing the best outfit and putting it on a big billboard. It immediately receives a 20 off discount and this is a call to action from the street. In the next room, we find a tracking bracelet for use in theme parks and resorts. It allows you to use the existing wifi to communicate back and forth and send messages. We can measure how many people are in line and can point you to say, near and buy a coke. There is conference advised from executives in atlanta and a chance to partner with companies for launch. For some, the synergy is clear. It would help talk to the vending machines. You have to think outside of the can. Watching where the dogs go, you know where the humans go and we understand the proximity of where they are two opportunities to quench their thirst. By mentoring, they get early access to technology that prevents competitions from getting there first. Bloomberg. , finding somewhere else to ride scooters in italy. We will tell you about the city that is banning scooters. Welcome back. You are watching countdown. Lets get the newspapers. You are talking about a story with scooters. This was a tragedy for the italian. Gregory pack and audrey hepburn. A tragedy. Is, what is rome the word for no and italian. Your scooter. E you will get a fine of 84 euros. Scooters rally yesterday at the tomb of augustus to protest. A fun story. A cash machine. This is how retired people are as piggy bankses because pensions are not providing enough money. It is a sad story. Most of the money comes from equity release and high interest loans. That means less for inheritance and that is a real huge shift. That is a record amount of money being taken out of homes. Lets talk about the story. Rushhour hell. The tail end of a hurricane that is going to hit today. There is the opportunity to use that. What is the word im looking for . It is going to be held. That is what they were saying. But it has been at least two days since i mentioned it. It was game last night. 10 down. A goal in the last three minutes. This chapter also scored. He scored his first goal and was criticized last year. 22. At least it wasnt the last. Enough, joinot had him. It is at manus cranny. Were taking a short break. In as an estimate. Him. I think the pipe gets bigger. Record holiday sales are fueled by bigger iphones and slimmer ipads. Vine within limits is allowed. The digital commissioner speaks to bloomberg. Ande are in each country when it is within limitations, it is allowed. Hello and good morning to you all. I am mark arden. I am an edwards. Lets go back to paris. The ceo has died in a plane crash in moscow. He died along with three crewmembers and they struck a snowplow. We are joined by Caroline Conan in paris. He is tell us a little more about what he was doing in russia. This is a man who traveled frequently to russia. Yes. He does. According to media reports, he was attending a conference organized by the russian government on Foreign Investments near moscow. Said russia was a good partner and, earlier this year, he signed a deal to develop Shale Exploration in siberia. Thelso said that, despite ukraine, he would keep working ,n the project in siberia and earlier in june, here is what he said about the relationship between russia. We prefer to think to continue to develop our business relationship and it is good for a better understanding between countries. Many hours taken so and time to develop the relationships. Istroying them because there something that i hope will be strongerm and a misunderstanding. We should with all of our relations. A good sense of humor and called a man with a big mustache. And drankt with ceos whiskey, making jokes. A couple of weeks ago, he was surprised we did not interview him when he was debating the future of electric cars. And he is the ceo of the fourthlargest company. He joins 40 years ago and went latter, running production and exploration. And, he has been developing exploration in russia and canada , west africa, and britain. Thank you very much. Caroline conan joined us from paris. Three minutes after 7 00. The coffee shop and Restaurant Company reported earnings and it expected athan pretax levels, coming in where analysts had been looking for. The revenue has been in line and the results were in line with expectations. They are investing 500 Million Pounds in driving growth. This is a company that operates a coffee chain and the priorities have not suspended u. K. Growth. Speaking to the ceo who will join us in just a few minutes to work through the numbers. The earnings are fast this morning. The company that struggled this year. There you go. The pretax profits are ahead of estimates and this is the first annual decline in three years. In atshion retailer came 46. 9 Million Pounds. It is a decline from last year and down from last year. It is ahead of analyst estimates. You will remember that the Company Shares plunged as much cited and the Company Investments in logistics and pricing for a third profit warning this year. The stock has lost two thirds of value and shares have come down to earth after the previous two years. They had to battle a fire at a distribution center. They are seeking to address slowing sales growth outside of the domestic markets. It is near 600 Million Pounds International Business and spans countries like austria, china, and the u. S. Growth has grown to represent almost two thirds of the total. That is the news. The company is promoting the cfo and the coo. They are searching for a new one. We have the numbers. How do they look . They go into smartphones and have the market as a beat. On 101ectation is Million Pounds of revenue and they have welcome news, in terms of forecast for royalty revenues. Every time they have their chips used, they get royalty revenues. The growth, in terms of smartphone sales and their sales were slowing. They are saying they expect to accelerate and continue to accelerate in the fourth quarter. If you look at the royalty revenues, they were narrow. We have switched currency, ofsus what the expectation 134 million was. That was an improvement. And it is down from 13 to the beginning of september. Definitely a company to watch. I will bring you a little bit of news. Hygiene, health care, those of the key products for it. It was a miss on sales, revenue, and gardens guidance. Margaret estimated a growth rate of 4 revenue and it was down. That missed estimates. We will stick with the target and it is going to be at the lower end of the guidance range. Demerge. This is something the ceo said he would do. Do merging the business is a priority and it will be executed by the end of the year. It looks like brazil came under pressure. Asiapacific and account for 25 of the business and europe and north america is over 50 of the business. It has missed on the metrics. And neilking at a blog woodford had cleared. Shareholder and said it is a cracking firm. A great product lineup. And Neil Woodford is a man who knows a thing or two about volatile markets. Nine minutes past 7 00 here. Lets go to andy harrison, the chief executive of the Hospitality Company that reported numbers this morning. The numbers have been released. Im not sure if you can hear me. We have a problem establishing contact with andy and we will try to reestablish contact. Aboutwill tell you twitter. Join us on twitter and tell us about the things you like and hate. Tell us the things you want us to follow. Tell us your apartment opinion of the story. At manus cranny. A busy morning. Still coming, the numbers and we are joined by the ceo. That is coming up shortly on the program. Time for company news. Companies have agreed to terminate a merger deal. If successful, it would have been the biggest tax inversion ever. They signaled they will change laws to close loophole and make the proposed deal unattractive. They say they will buy back 5 billion worth of shares and increase quarterly dividends. A breakuphave to pay fee of 1. 64 billion. Toyota uses components in their airbags and issued a safety warning to car owners. Avoidre advising to sitting in the front passenger seat until dealers can repair the devices. There are reports of metal shrapnel being propelled when they inflate. Hundreds of thousands of recalls have happened worldwide. Ibm fell 7. 1 in new york trading to a low after abandoned after abandoning the earnings forecast. Warren buffett. They are struggling to adapt as customers shift to cloud computing. Change described the change is unprecedented. Decline for the first time in over a decade. Big companies have a lot going for them. Wendyns of customers and of money. When it comes to innovation, it can be hard to keep up with the start up. One of the Biggest Companies has its own innovative solution. Elliott gotkine reports. It is difficult to avoid startups. This is a floor of a building and it is bursting with them. Media grouplobal and other weird startups. Another one you would not expect is cocacola. We have a program that is about helping young startups in israel. They commercialize their products and we take advantage of them. Selected startups for the pilot program. Creates interactive experiences. You can see the girl choosing the best outfit in mobile and putting it on a big billboard. We see the discount on the outfit that is a call to action to get into the store and get the outfit. Braceletd a tracking for use in theme parks and resorts. Our Technology Allows you to communicate backandforth, sending messages to not wait in line because we can measure how many stand in line. We can say, come here. Startups get videoconference advice from executives and they get a chance to partner with their company for a launch. The software could help your phone talk to the vending machines. The network,ike you have to think outside of the can. Once we watch where the dogs go and understand the proximity of where they are to quench their thirst and hydrate. But they mentor them and get early access to the technology and prevent the competition from getting there first. Bloomberg. Once 60 minutes past 7 00. China reports other than expected gdp growth. We are live. Find out what is driving the day. Basically, sales figures were belowere earlier and analyst estimates. We are joined now. Good morning. Thank you for joining us today. The drive still bearing fruit question mark it is onring significant fruit an adjusted shows increase. They are continuing to deliver on intentions. Can you fill us in on the global market. You called it challenging and called the fragile. The narrative, in recent weeks, concernsthere are about the Global Economic environment. Stop fromusinesses where you are sitting, what is the picture across the globe. Is very limited with positive signs. We see decreasing. In markets, whether latin america or southeast asia. Recoveringpe is not in any significant way. What we see with growth is restricted to with america and china. Reducingtment growth. We are continuing to see a market environment that does not provide stop but what about russia . What can you tell us . That was problematic. I would guess it is still the case. For us, what we see as the general trend is that the products manufactured locally see growth and the products imported into the country show changed behaviors. Manufacture a significant number of things and russia is not that large of a country stop it does not have a material effect in the results. The affect helping and hindering the most in the last order. Previous, ito the had less than a fact. It was 5 in the previous four quarters and now, at 1 . It is not turned positive. It has become less painful than it was previously. Cite disappointing european. Are they doing enough and what is it going to take . Kickstarting the euro zone economy . Desires Consumer Confidence increasing and will drive a form of spending increases and property development. Governments find the proper policies, that would fit with many companies. You are divesting. You have not done any big deals for a long time and the big one was in 2007. On our bloomberg terminal today. There is no biggie for quite a while. Is that off of the cards . In the months and years ahead . We have the portfolio to focus on and that doesons not exclude the acquisitions. We bring our returns up. You see that happening for the fifth quarter in a row. Our focus is not on transformational deals. Growthocused on organic and an exit strategy. I can guess the answer to the next question. It has been written on bloomberg that you have been sounded out as they potential buyer of the valued and the system is at 7 billion dollars. I am guessing that is not an option . As you understand and expect, i am not in a position to comment on any of the things in the environment and you kindly stay away from it. Talk to me about the cost. Roman serial costs. You said it is stable versus equity prices in 2013. Do you expect that to remain the case . I guess we expect that to remain the same. We see the oil price being ofble and we buy a lot oilderived materials. Buys important for us to and to be behind at this time. We see that it remains benign. How low can oil go . Oil haveeties of fallen over 20 and are in a bear market. Are you penciling oil to go lower . Oil is as difficult as printing currency. I started at nine dollars a barrel. Overall, i guess, as we said before, we expect the Oil Commodities to be relatively constant. Is the question, what biggest worry right now . What is the biggest concern . We see a significant reduction in growth levels in various parts of the world and that is a concern. We look at the Property Market and that is a significant portion of the revenue driver. Discussed, developments in europe continue to be a concern. But thank you for joining us and we will speak to you soon. 7 26 in london. The cash cow, the iphone, is getting bigger. We will be joints to discuss that. Welcome back. It is seven 30. How does the worldview risk this morning . The aussie dollar is trading higher. 4 . E up by numberdp is the only market is focusing on. There is corley gdp and the aussie dollar gets a nice boost. The iron ore keeps getting dug out and shipped out. Boost to the aussiedollar. The last at 3 . It is down 6 in the past month. Saying it is too highlyvalued. Lets take a look at this. I thought this was interesting this morning. It was down. Some big Research Notes are out. Industry that has up and will be torn change. This is a big note and they say there is a big truck throw change. 6 . Ation was you get something new every day on countdown. In london, these are the Bloomberg Top stories at this hour. The analyst estimates. The Chinese Government has said they will avoid broader stimulus measures and have an extension case. Mark carney is under scrutiny because the bank of england had to shut down a system after payments. The settlement mechanism was suspended and remained offline for nine hours. He said that the bank of england will investigate the cause of that. Died in aef executive plane crash in moscow. It was confirmed that he died along with three crew members. Reported thecy driver of the snowplow was drunk. We have the reaction from a leading figure and from shell chief executive. He was largerthanlife and a leader who was respected in the energy industry. He was a friend. Lets get more. We are joined by Caroline Conan. What is the latest . We have the Russian Investigation that says the driver of the snowplow that hit his jet may have been drunk. Is ongoing andon on the weather and was foggy last night that may have played into the balance. We are starting to get a whoement from the president said that france has lost a great leader who gave life to the french industry. The french president says that he was defending French Technology and said that he admired the original personality and independence of him. Mentioned, well respected in the oil industry. He was a massive figure in the oil industry he was. He was charismatic. Many called him a man with a big mustache. Aroundoften hanging out at Oil Conferences around the world. He was staying around and chatting. He would drink whiskey and was friendly with journalists. He was joking with me about how we did not do an interview with him when he was debating about the future of electric cars. An interesting subject for someone who had been they head of the fourth Biggest Oil Company. Agotarted about 40 years and was in the finance division. He went into the exploration and Production Division before 2007. Intovesting massively he has become the second biggest market cap in france. Was he a frequent visitor . Was. He considered russia and the recent ukraine conflict. According to several media reports, he was there before the terrible accident. Conferencending a organized by the russian government on Foreign Investment in russia. The raree of International Ceos to attend the International Forum a few weeks ago. He said that russia had the goal representing 10 of the total per photo by 2020 and he looks for shares in siberia. He said that the russian sanctions would not stop his reserves ining gas siberia. He said that your could not with that russian. Thank you. Caroline conan live in paris. Iphone 6 hasest recharged apple. For more on the bottom line, we are joined by neil. Thank you for coming to talk to us. Payiphone 6 and the apple were released and what can we say about the success of these devices . I think it is interesting. We are obviously seeing an iphone launched at the end of the quarter and there are only 10 days in the quarter left. There were the devices in the first weekend and the core has a Strong Revenue driver in that sector. Neil, what is going on russian mark is this you need to apple question mark is it industrywide . Symptomatic ofs the industry. It was released a couple of it is slowing slightly after explosive growth last year. The growth has slowed at a ieater pace in the market and think it is something we will increasingly see in the next few months with the market maturing. He is doing a masterful job of marketing and is there any real innovation coming through . I am in the ecosystem. I have other products. I am locked into the ecosystem. And a bit ofaster a clearer picture. Is true. You look at tim cooks interview with charlie rose and apple has never been a leading innovation company. First iphone was not the smart phone and the macbook was not the first computer. They do things better and create a luxury that people have affinities with. Lets talk about where they are selling at the moment. The chineseat demand was off the charts. This is not a volume business. China is a big place. You can make a lot of money there. Is that the secret for apple . Is that what they move in greater sets next . And ise is a huge market going to be difficult to get traction in. It is growing at a great rate in the market. , it is coming at a huge pace. It is important. The smart wallet is tough to crack. So many have had to do it. It never kite quite caught on. What does the success rest on . The big thing it will rest on is the education piece. That is an audience little betashy and they are looking to assuage the concerns. Out with the credit cards wrapped in tinfoil because they do not want people stealing your details. Be careful. I think the success of apple pay is going to be underpinned by the education piece. If they can convince the market that is a secure way to pay, it is about as secure as you can get from a physical point of view. It will have some success. 180her it will be worth billion using the credit card would be huge. My pin number is 1234. Ibm, everybodyth wants to do the deal with haveng the client and we ibm and apple. What does that mean . It means that we are going to start seeing the price increase in level. It is a design. It is always a design. It is important for apple to get into the enterprise market. They are talking about tablet usage and one of the main reasons for the tablet usage is in enterprise. You cannot use microsoft tools on and ive had, for example. It is a big area of opportunity. Every day for schoolwork. Thank you very much. Routes is the head at Something Interesting is happening in the bond and stock market. Welcome back. That talks about bonds. Sometimes a simple picture is best. The white line is the one on top and is the Bloomberg Global developed bond indexed of sovereign bonds. The red line is an indexed that active stock markets. Some interesting has happened. This is from the beginning of this month. You can see the bonds have been 1. 8 , and almost stocks have been following. The gap is 5. 8 . It is the biggest since may 2012. Bonds are outperforming stocks. Last week was a volatile week. Member the volatility in treasuries. Stocks have been falling and have been hugely volatile for treasuries last week. What is driving the gap . Worries about the Global Economic recovery and conflicts. They are postponing when the fed will raise interest rates. It is sometimes worth looking at the discrepancy with the bond of fair worldwide. The simple gap is the widest since may 20 may 2012. You are looking at a live shot of the city of london. It is a little foggy. There you go. A little bit of london fog. The octomom weather. Gonzales blows in. We are talking with the annual retailer. Profits are down for the first time in three years. Why . How . Join us. Welcome back. Apple reported the decline. On retailer spent more logisticsicks and and technology. Thank you for coming in. What explains that the client in pretax profits the decline in pretax profits. It is the mix. One of the things is the stronger pound cutting into the sales in australia. We see profits starting to go down and it is the marketing costs that you lose. It is expensive to recruit customers and, associated with that, you have delivery costs that they have to invest in. Question you draw a line in the sand on the stock basis . They are down two thirds in value this year. Can they drive draw a line in the sand russian mark in the sand . I think one of the interesting things is that the former cfo has a new job as the chief operating officer and this may be the recognition that the government the business is getting more complicated. Questionnaire focusing on growth and strategy. To have warehouses in germany and the u. S. And it is becoming more complicated. I think they need someone to concentrate on that. That was interesting. It is. They only made their first profit in the Second Quarter and, one of the lessons about online is that you can grow sales fast and you do not necessarily make any profits. Thank you for joining us. Now, we have been joined on set. A number of traders are focusing on the number and are so obsessed about any little moment of disappointment. That is a weak number. How do you look at it . Is it a b or the worst quarter since 2009 . The markets are struggling at the moment. He is looking at the wrong thing. The bottom line is that it is the weakest quarter since 2009. It is a question that will be asked. Whether china can tolerate the slowest down. Let thee already reforms yet implemented to make it easier for first and second time buyers. The policy capitulation is something we could talk about all day with china. Bikes apple. What have you uncovered apple, what have you uncovered . About one week of the quarter was the iphone 6. Who knows how big the number will be. It is a big start on the ipad will stop the sales continue to fall. On the ipad. The sales continue to fall. We have an interesting piece on bloomberg that talks about how they have been successful with the product launches in september and october. I have an iphone for. Iphone 4. It needs an update. What are you surfing . The product line . You may get another buyback. Thank you. You can join us stop you can join me, manus, and anna. Tell us the stories you want to hear about the stop hear about. Markbarton. On the move is next. The ceo will be joining john and the team with the results from the business opening. That is coming up after a short break stop 7 55 in london. Short break. 7 55 in london. We will see you later on. Welcome to on the move. We are moments away from the start of European Equity trading and this is what we are focused on. Ceo of europes second Biggest Oil Company dies in a plane crash in moscow. 7. 3 ,l be talking about china delivers a beat for the worlds second largest economy, the weakest gdp number since 2009. Apple smashes forecasts. Projects a monster end to 2014. We speak to the ceo of the chip designer that creates technology for more than 95 of the worlds mobile phones. One did you discuss over the next plenty to discuss over the next 60 minutes. Spanish, italian yields moving higher gradually. That whole debate is going to take root. Manager, he is saying the piper will be paid one day and u. S. Equities will outperform by the end of the year. A fairly established name. Equity markets are set for an open lower. You look at the china
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