With the ukraine. There is growing momentum for more sanctions against russia. Nato top military commander says russia is sending troops and equipment into ukraine. Later today, there will be a meeting of the eu and u. S. Officials in brussels. With sanctions of the agenda thomas r russian expert is ryan chilcote. In this overall discussion at the moment . What is on the table potentially for sanctions, first of all . There are three options. The first is to expand the list of individuals who have been sanctioned. The german chancellor talked about that earlier last week on the back of the election we saw that the west said was illegal. Individuals involved with preparing the election should be sanctioned, she said. We have appeared to move beyond that now when there is more chatter about economic sanctions. Those could take two different shapes. One could be an expansion of the companys facing restriction. For example, Russian Companies and their ability to Access Capital markets. We could see a number of names the last thingon is we could see more restrictions on what western companies can do in the western market. Take bp for example. A russian oilr in company. For example, one thing they could do is say you can no longer get evidence from your state in that company. That is something they could say in increasing restrictions on month western companies can do to deal with russia. We have heard a lot more aggressive, if you will, talk ever since yesterday when we heard nato make some very serious comments about russian actions. Have a listen. We dont have that sound, but weve heard a lot about the impact on the russian economy. Weve talked about that a lot. What kind of impact is this having on ukraine . If you look at credit default swaps to protect barnes and their investment, there is a two in three chance the market is showing that ukraine will default on its debts. Yields themselves on bonds if you look at the threeyear dollar denominated about 17 of 4. 5 on the week nearly four times what it would cost other emerging markets to borrow. If you look about the currency, the ruble and how poorly its done, well the ukrainian currency is down or the 8 year to date. The real question is what the russian president will do next and traders have a tough time figuring that out. What do you think . [laughter] look. To bevery confrontational at least seen, because the russians deny, that they are sending troops and tanks into the east of the country, building up forces in the east of ukraine going into a g20 meeting. We have not gotten anywhere. The rebels dont seem to be satisfied with what they have. There are Huge Energy Problems in terms of their ability to heat themselves this winter, get the supplies they need. Russia is experiencing some of in same problems in crimea terms of supplying the population in the territory david next. Wewould not surprise me if saw a very genetic escalation. We will be speaking live with the Ukrainian Foreign minister live on countdown 7 45 a. M. U. K. Time. Dont miss that as we follow the developing story through the morning. Another developing story to focus on today that we will come to imminently. Should we focus on whats coming in berlin . Hans nichols will be there shortly but not quite as of the second, so lets move on and talk about Something Else. Should be talk about the oil markets . We saw brent extend its decline to below 80 per barrel, didnt we . A really interesting piece on where it goes from here on the terminal this morning. A closely watched a Hedge Fund Manager calling on oil. He says he sees brent going to 65 70. Thats a considerable downside from where we are right now. Will opec do anything to remedy that . Other nations desperately want. Weve talked about this whole price war. Its a figment of the global imagination. We have hans standing by and we will go to him to talk about the music industry. I cannot think about a segue from oil to music. Outave this big news coming of youtube launching a rival to itunes. What does this mean . Segue is oil to water. Is youtube oil . Is itunes water . Clearly we will have a huge confrontation. They will be taking it to unveil a subscriptiononly service. The actual number is 10 per month to have whats called youtube music key. Whatsill be playlists, hot. This is basically their attempt to go headtohead not just with itunes where they bought beats electronics earlier this year. They want to have people in their pockets all the time. Be want to put a little advertising on there. Thats the difference between spotify and pandora. Theseg question is have companies signed up the record labels . It looks like youtube has done the legwork. They cited vivendi universal, emi, warner music. This is more crucial for both manus and mark. Toldber when taylor swift from spotify . Good news. Taylor swift will be available on the new youtube subscription. They just need an invite and then you can get all the taylor swift you want or, in your case, need. Album, 1989. Test i can hear the gentleman around me breathing a huge sigh of relief. Im still waiting but i am a swifty fan. Things tech today and twitter is putting up their firstever analyst day. Ofs not about the number active users that the people who just stumble on to the site. Is the argument they made, the first ever analyst day. The argument is trying to figure out how to monetize the passive users. They think a can get 14 billion years, 10enue in 10 times higher than now. Clearly they are making a big case saying theres a lot of money to be had. It looks like the market audit. The stock is down 33 on the year. Analysts like what they heard from analysts there. You and we around this desk are on twitter. You can find us there. A good moment to promote ourselves following a twitter story. Unabashedly. Trying to get to 1000. By christmas. Where are you now . He needs a marginal rate of acquisition. Im a late developer. Coming up, Central Banks in focus. Yellen and carney knew and neck to raise rates. How soon could a hike becoming . We put that to neil bouillon after the break. Time for todays company news. The onetime charge would the to a layoff pushing loss to nearly 800 million euros. The italian bank is trying to raise 2. 5 billion euros after it emerged it was the lender with the biggest capital shortfall after failing the ecb stress test. Barclays is facing renewed scrutiny from new york regulators. That is after the state Department Financial services refused to take art in yesterdays Group Settlement of forex manipulation announced by authorities. They think the rate rigging settlement was not severe enough. The lack of resolution sent barclays shares down 2 in london. Where ciscow york fell over 1. 5 percent after hours after it missed its profit and sales estimate as customers reduced spending on network equipment. The network ceo says several large phone Companies Cut orders dramatically. He warned that a profit forecast for the next quarter was conservative because a further decline in orders being likely. Theank of england and Federal Reserve both in focus. Which will raise Interest Rates first . And next guest think the rates will not move any time soon. Neil Williams Joins us now. Expectation for rate hikes in the u. K. Pushed back a month to november next year. Market telling us the fed will go september of next year. Is that about right . You put the fed as the favorite to go first . If it is the race, the fed will be just ahead of the bank of england, we are seven years down the line since the first traces of the crisis. We have no more even at this stage than the threespeed recovery. There slow lane still with the baby steps with pretty much more Central Banks towards the rising. Crossing the pboc in china is said to invite Smaller Banks to apply for cash injections. That thereon a story were various options there. What do you think they are assuming china will deliver . I probably lose more sleep about the eurozone than i do china. Buttons to press and the other big economies in the peoples bank, as you say, is currently going out of its way to try all sorts of things to get them moving barring one thing, Interest Rate cuts. They do not want to stoke the shadow banking sector. Increaseonce again infrastructure, build bridges that nobody wants but at least it gets growth going. They can bring forward agricultural subsidies that ripple out. They get towards that 7. 5 hallowed growth target. Im a bit more concerned about the eurozone than i am china. That takes us to the u. S. Secretary of the treasury jack lew. The status quo policy in europe as not achieve the common g20 objective. Everyone is beginning to arrive in australia for the g20. Its up to germany, the netherlands, etc. He singled out germany and the netherlands as countries that could use a fiscal measures to boost demand. Hes singing in the wind. To some extent he is a. Its interesting whether draw key draghi hears him or not. The first chapter was about the periphery but the Second Chapter is about the bill payors, the core between germany and france. With germanys economic a bulletproof status now being questioned not just because of pain for the eurozone the cold wind coming from the east. It seems to me looking into next year that the eurozone is not out of the woods. We will hear more problems coming from the big economies suggesting problems and the big data will remind us that mario draghi will probably have to do something special. Tomorrows gdp data should afterhe economy grew flatlining the previous quarter. Do you envisage in the next growth returning to normal trends, whatever that is . Normal for the eurozone is becoming no growth. You could say the eurozone is halfway through that lost decade of growth. The problem, or one of many, is the policy toolbox is almost empty. Believed hy i draghi will do that, btut why fire the last bullet . Some of the rates are even negative into germany where we are all paying for the pleasure of lending them money. Why should you fire when he can wait until next year . We will get all sorts of the data. Theets talk more about extraordinary measures taken by the world central bank. Stay with us. You are watching countdown. Its a brave guest whos decided to stay with for part two. The groups chief economist, neil williams. Lets took about japan. Missions Obama Shinzo Abe could avoid a sales tax and go for this. Should you plan for the sales tax . Are we at the point of intervention . At least on the yen . Before mark shows a his favorite chart, when have we not been at the point of intervention . [laughter] its at least an hour away. Its been all of 16 years of foreign japan has been throwing money into the system. Its not working and now they decide to do it properly by accelerating the quantitative easing. The problem with qe for all of the Central Banks to learn see that its a bit like a drug. The more you use in, the more you need it. I cannot see japan taking the drug. At the same time putting more taxes on the economy. And does not make a great deal of sense if the aim is trying to get consumers and firms to start more. They have two moving targets. One is to get the economy moving. The other is to try to chip away at what the developed world is the biggest debt to gdp ratio about twoeading to hundred percent. Because of the election they now decide to kick the consumption tax down the road it may help the consumer. Be rating agencies will not too impressed if the Rating Agency in japan is as such they are now obfuscating fiscal reform for a quick fix to the consumer. Its a fairly dangerous game japan is about to play if thats where they are going. Qa as a whole bank of england, the fed, ecb what about qe . Does it work . Are you a fan . In had its time when the Financial System is clogged up two thousand nine. Looking back over the last six years in the u. S. In the u. K. , it no moreive than half marks. It did give us inflation but it is cost inflation. The money really went down the asset price route. None of it came to us. It is good if we all pick it up and pass it on but the velocity of circulation, they like to make it sound complicated, has been falling in the u. S. And u. K. With little sign that it will be picking up across the pond. The question is either now for good and try Something Else or pick it up again. I would not rule out the fed. Could you see a situation where rate hikes and the expectations get pushed out into 2016 even . Governort know if carney was hoping for a pen for chris smith but he will have to use it to explain why inflation is too low a pen for christmas. What dissuades me slightly as we know that janet yellen and Governor Carney would very much like to, when we get there when the flag at the summit of suggesting 3 in the fed suggesting 4 in the great chance is if you start early. Neil williams, thank you for joining us. Theyre celebrating a big birthday. I will be back. I will leave you with these two. Welcome back to countdown. I manus cranny. Dollar yen, the end is declining. That is at the top of your screen. 115. 72 on dollar yen. But you have again here is more comments that should so shin zo abe will the sydor has go to avoid a sales tax hike. Dollar yen, the dollar is up 5 after the quantitative easing plan introduced by the bank of japan. Could we bid closer to the intervention . Youter minds will take through those charts later on. Lets have a look at aussie dollaryen at the bottom of the screen. What you have here is the australian assistant governor saying the aussie currency has isthered the fall and it fundamentally overvalued and growth will continue below trend. Intervention is an option thats not off the table. Aussie dollaryen is vulnerable according to anz. Theyve been buying a big option smashup. It puts me to sleep but its called a put spread buying on the aussie dollar yen. I mark barton in london and these are the top headlines. The European Union and the u. S. Considering further sanctions against russia. Nato said russia sent further troops and equipment to Eastern Ukraine. The eu and the u. S. Will hold talks and russ brussels later today. , ias ist asian leaders attracting a growing number in the region are raising the risk they might return to their home countries and carry out attacks. And was a brief encounter for the probe that landed on a comet. Saiduropean space agency the probe has bounced away and contact. S have lost harpoons meant to secure simply did not fire. The manager of the Landing Program said its complicated. On a comet, i bet it is. Dawson hasgs john been speaking exclusively to Morgan Stanley Ceo James Gorman in singapore. Heres what he had to say about the fx reagan fines. Rigging fines. Obviously, they were apparently giving fines for bad behavior and thats the kind of thing were going to root out. This Industry Needs to operate with trust and confidence from the public. Any manipulation of any of the markets flies directly in the face of that. We need to get that behind us. This kind of behavior in the phase going through leading up to the crisis and immediately after it is just not good enough. I think all of the bank ceos would say the same things. I cannot comment. It would not be fair. They dont involve us. Anyrly rooting out inclusive behavior is critical. Are you and the new era of banking ceo more concerned . Are you calling me a strange conservative . Listen. We run these companies as businesses. Capan stanley has a market of over 60 billion and its a very large, complex Global Business and wall street a good number of years or decades to evolve from relatively small enterprises. Ate with a Global Enterprise you need processes and systems. Quite interesting inside there with james gorman and john dawson in singapore. At that youre going to say dawson was getting old. I would not say that. World agreeing to buy economic zoning world for 2. 6 billion. Elliott gotkine has the story. Good morning, elliott. Tell us more. Figure is 2. 6e dpllion in cash that world is paying an Economic Zones in mumbai. The jewel in the crown surprising enough sits adjacent to the main flagship port. That is one reason why it is making this deal. It has agreed to buy this company and they plan to get economies to scale. 97 of the revenues from Economic Zone world comes from about 130and it has Million Dollars worth of revenue each year. So this is what dp world is looking to tap into, a stable stream of revenue. Taking the broadview to help old and even bigger, more integrated champion of dubai. At the same time as doing this deal, dp world says they will delist from the stock exchange. , from99 of shareholders there so in their perspective they do not need the nsd listing. Elliott gotkine, our man in the middle east. Ofnus is just taking a photo eliot on his tablet. To be fair, he is doing movember. That. That tashe has a whole twitter following. Is itchy . Sponsor may. Sponsor you . Comb. Ave a little im getting a trimmer from london. You need some oil. There are some funky barbers in london. Why is someone bringing you a special trimmer from london . Dont you have one in tel aviv . I need to keep it trimmed, you know . The rockford files live from tel aviv. Out. Oing to tweet that ifitish ship designer i could choose the right camera . Company has thrown its weight behind a tiny cambridge start up which claims its on the brink of revolutionizing the delivery of health care to the developing world. The best things they say come in small packages and it does not come much smaller than an arm processor. The company set up by Cambridge University phd students, this was a dream used to power apple smartphones is at the heart of a less flashy, but someone argue, all more together important device, the fingerprint scanner that can connect someone to their entire medical history display directly onto a mobile phone. What if we could use biometrics . The unique id that connects them to medical records from birth wherever they are in the world. Theyre monitoring the health of pregnant women. They have a grant from the Gates Foundation helping to fund the sum of these. Is designed, 3d printed, adjusted, printed again as the ergonomics are defined. The chips are tested in a specially designed algorithm getting this thing to print to a mobile phone. Ngoslan is to sell them to and others for about 40 each. There is a huge market out there so one thing arm is trying to do is to demonstrate how relevant this is to help health care for the next 2 billion people who dont have it at the moment. Field tests are land but as arm holdings and bill gates say, its just the beginning for these phd students turned entrepreneurs. Tom mckenzie, bloomberg. Time for todays company news. Youtube is the latest to enter the streaming space to compete with the likes of apple and spotify. It launches on an invitationonly basis next week. The service is 9. 99 per month. Index went to a low in november. London Housing Markets slowed down after the bank of england introduced rules on lending. They are highlighting the shrinking role of trading at the m with just over one third i tweet more than he does. We just tweeted out the rockford files. Anna is here. She is speaking to the euro store chief executive. Im manuscranny. We are always there. Tell us what you like, what you dont like, what youd like to see more of. Coming right up, youth unemployment rates and wage growth are guiding centralbank policy across the globe. A next guest says the next generation isnt prepared for the workforce. Theging director here in u. K. Will join us in two minutes to discuss that very issue. What weve said is that shareholders deserve to get paid along with our employees. If you are not profitable, you have to be prepared. Now four orey is five years in growth and profitability continuously improving and we pay competitively. Gorman, chief executive of Morgan Stanley, talking about how the bank retains its top talent. This week, were focusing on the risk involved in managing talent. What challenges do Companies Face in retaining their top employees . Mark joins us now. Looking at yesterdays wage data , Weekly Earnings rose on a basis from 1. 3 and inflation is up 1. 2 . For once, the first time in four years five. Ofwe have well wage growth 0. 1 . Real wage growth. The devil is in the details. Those who have skills can d emand much higher salary than those just entering. Those who have skills can demand they ares and demanding. I was speaking to someone in construction. Now they are having to pay them 1000 pounds per week and its rising. Those coming into the market at the bottom end. We just heard from james. Orman the market has had a tough time over the last five years. Bank ors are still paid too much. Having key talent in Financial Markets is whats generating income. Income and tax. And tax. We have to look at where the wealth will come from. Productivity is still a question for us in the u. K. Small increases in wage, as you say, but is productivity going to follow . You say there is an oversupply of graduateready canviduals and what graduate to do to make themselves more ready for employment . Whenever someone going through university, college, vocational training, whatever experience they can get will be good for them getting a job in the future. You have to be tenacious. As an individual coming out of be very tenacious asking for work and perhaps dont set your expectations too high and bieber appeared to work your way through an organization as well. It will not be delivered to you just because you have a degree. I can remember looking for an internship and it was pretty hard. From the employer side, i like what you said in your notes. Start waiting for governments to change the curriculum. In gauge. Industry needs to engage at a Grassroots Level or local level. Getting is really engaged with local schools. The and local levels getting engaged but more has to be done. Theres not a lot happening. Youth unemployment is at 16. 2 , i want to say. A vast improvement on what we see but its still not good enough. Business is getting it right. I have to help education get engaged in a more ready way. We see some that are better than others. U. K. Teresting you see that versus europe because thats the wonderful chart of the day. Britain has created as many jobs over the last four years as the euro region has lost. In the nation sharing the euro dropped 1. 4 million, thats a huge disparity. We have over 30 million now in work and the u. K. We have a lot more women working and thats another area. Also about the whole diverse city getting more females back into the work lace as well. We have a more deregulated employment market relative to europe . Are, as lot of people you say, on minimum wage. Theres a lot of controversy about deregulated markets, isnt there . A rather flexible market and in the u. K. , its been one of the things that helped our economy over the last four are five years to actually come through. Colleagues in europe have such strict regulations that its not helping them to get Work Experience and be able to get that next job. Wind ofou feeling a change will happen in europe labor . Comes to flexible its happened a bit in spain and ireland. We will be talking later to one of irelands state ministers. Do you sense that it will happen in countries like italy, which is central bankers are crying out for . Structural reform will take time. Theres too much uncertainty out there right now. Ireland is a great example where we are seeing great growth and we predicted good growth again for the start of ireland in particular. Reform is happening. Theres too much uncertainty across europe in terms of where the change will come from and how we will generate new growth. , managinghill director at manpowergroup u. K. To kicki dench refuses the retirement bucket and instead it drives her to do more. [laughter] welcome back. I am back. I reappeared. A very nice conversation with the ceo of euros star celebrating their anniversary with new trains. I just said over the break if anyone has heard about the story. He said it is spinning backwards and its the story of love and old age that centers on the horses. Shes in it with Dennis Hoffman and its a bbc adaptation. Age. Going on about her shes 79. Isnt it about time for her to put her feet up . She says she loathes discussing it and she rejected being told she must not do certain things nowadays. She said she refused to be told shes too old for anything. Good all dame judy. Hear, hear. Where are you taking us, manus . Something slightly more sobering. This is the guardian. Universities tackle loud culture. This is a good lab issue of the workshop of a group discussion. Talking about what is and is not acceptable. I cannot be the phrases used in this, but it is to try and make understand what is acceptable and what is not. Those sort of rules change, evidently. A long way from when i was in university that anyone remotely considered acting like this. Patients told to go online and radical nhs. Access to care will be as easy as internet banking. Basically the idea is you will be able to access her Health Service records online. And doctors will be able to prescribe free smartphone apps. Do you do your prescriptions online yet . You can. Prescribing free apps sounds like a way to save money. Continues and we have an exclusive conversation with Ukrainian Foreign minister you wont want to miss. As tensions rise in, we have an exclusive interview. They have negotiated a peace plan and systematically undermined it at every step. Treasury secretary warns europe that it isnt doing enough to drive growth. Regulated action by National Authorities is needed to resist the risk that the region could fall into a deeper slump. Dialing up the competition in the music market. Youtube launches arrival to itunes. Hello, welcome to countdown. Getting some breaking news from sab miller, the worlds secondbiggest brewer. First half total beverage volumes grew by one cent on an organic basis. It has resilient topline growth. Early headlines. It has been in the news in recent months. Back in september, heineken revealed that it turned down an offer from sab miller. Such a deal would have strengthened sab against a potential bid by ab inbev. The chief executive of sab denied that it was a defensive move. These. Ly figures are first half earnings before interest, taxes and depreciation, 3. 2 8 billion. Slightly below estimates. Currency is going to be a big factor, possibly. The weakness of currencies against the dollar could restrain earnings. The company has been benefiting from the pickup in emerging markets. It does say that trading conditions will remain challenging. , earningse headline that missed estimates. That is sab miller. Lets get back to geopolitics. Ukraine once again. Growing momentum for more sanctions against russia. Nato military commanders say russia is sending equipment and troops to ukraine. There will be a meeting with eu and u. S. Officials in brussels. Our russia expert, ryan chilcote, is here. Are sanctions on the way . Monday could be the day. The diplomats are discussing the options. They are pretty much going to chew it up for them. Three options, one is to expand personal sanctions on individuals that are to be sanctioned, have their assets frozen and the ninth travel. Denied travel. The german chancellor suggested she would like to see that. That was after what they call the illegal and election in the east of ukraine. Making morenato serious allegations. That brings in the next options, expanding the list of companies to be sanctioned, limiting or restricting access of Russian Companies to International Capital markets, and finally, we could see more restrictions on what western companies or individuals are allowed to do in the russian market. A huge range of options. Lets just remember that things really changed yesterday when we had nato say, or allege, that have now moved into the east of the country. It is a little bit like removing the cloak of plausible deniability. That,at nato has said they have to confront russia. If they hadnt said that, they could say, it is arguable whether we see direct evidence. How could russia deny it . This is nato. You can dean i anything you want. At the end of the day, what the russian said yesterday was that, what is happening there is the osc is being biased. While there might be some kind of Troop Movement in Eastern Ukraine on the russianbacked rebels side, what they are is notis the osc reporting what the Ukrainian Military itself is doing. Not that many people buy russias line at this point. We saw that yesterday at the united nations. I dont think it gets a lot of credibility or credence in brussels. Theheres two sides of economic discussion, one is what is happening in ukraine, default, the possibility. There is also the russian economy. When you look at this story, where is the bigger risk . Is it ukraine . Ukraine, more in of the world is exposed to russia. The ukrainian story is much more dire. If you look at insurance against ukrainian bonds that investors take out, they are showing there is a 23 chance that ukraine will default in the next five years. Yield on ukrainian bonds are at 17 . They rose 1. 5 yesterday. 4. 5 in the last week. That is four times more expensive than in most emerging markets. Their currency is down about 50 . Russia has been bad, secondworst performing currency , down 30 , but the exposure of western europe, the eu, the u. S. To russia is infinitely greater than it is to ukraine, which is why we spend more time talking about it. What we have seen over the last few days is, the russians have been somewhat successful in stabilizing the ruble. It is going to be difficult. There is downward pressure. You see it right there. 46. It has come off after the other side of the week. They are not intervening. That is one of the first times they havent intervened. They are beginning to restrict the amount of rubles they give russian banks. What they say is the russian banks were taking the rubles and buying dollars. Further weakening the currency. Incorrect conthat intervention, appears to be having some success. But it is going to come under pressure. Ryan has a big interview coming up. You wont want to miss our bloomberg exclusive. 7 45 u. K. Time. Dont miss that. Issue to think about the u. S. Treasury secretary, jack lew says europe must do more to avert what he calls a lost decade of growth. He said that current programs arent achieving strong and sustainable growth. The easinges policies applied by the European Central bank. I the ecb as recent Economic Performance suggests, this has not proven sufficient to restore growth. Action by National Authorities and other bodies is needed to reduce the risks that the region could fall into a deeper slump. The world cannot afford youtube is preparing for a battle with itunes. The googleowned site unveiled a new Music Streaming Service yesterday giving the Company Another way to compete with apple. Hans nichols has the story. This is going to be interesting. What are we going to have to offer to get you to convert . Im pretty locked in with apple. Im part of the ecosystem. That is a great way to start this. Do you stream with apple . What both google and apple are getting into is the streaming business, which is right now owned by spotify and pandora. Apple, they bought beets electronics for 3 billion. What google wants to do is offer music key, a subscriptionbased service, starting at eight dollars a month. Eventually it will get up to 10 a month. They will be able to stream and have playlists on youtube. Youtube has already cut deals with the record labels. This is what holds back Companies Like sound cloud. The big question, whether or not soundcloud is going to get rights to the music their users load up. Google has cut deals with some of the biggest names, vivendi, sony, warner bros. Yes, they have signed up taylor swift. Pulledr, taylor swift her latest album from spotify last week over disputes. It looks like they have signed up taylor swift. You and mr. Barton can rest easy. I want to give you some assurance here. Mark is crestfallen. Anna has educated me on the whole issue. Im not a streamer. Ive got possession issues. Mark has issues about taylor swift. Lets talk about all things tech now. Everer is having its first this is going to be really insightful. Stock was down 7 . Sorry, the stock closed up 7. 5 . They are questioning the use of twitter even though it is picking up with mark barton joining. We called that peak twitter. And we have oil peak twitter with barton on the stream. You have an incredible revenue possibility but you have skeptical analysts. The they tried to convince wall job. T and did a good their stock was up 7. 5 . When you look at their goals, they want to get to 14 billion per year annual revenue. At 1. 4w they are billion. They say in five to eight years, they could be at 11 billion. All that rests on their ability to monetize the passive users, not the active ones like you, mr. Barton and anna. This is another segue for you to mention your twitter accounts. Maybe you can get into four digit numbers. Thank you. There is a challenge. You will hear from us on twitter. Just tweeting about bskyb. It is now just sky. Plenty more coming up. The next taxi pricing war. They promised to double what uber pays drivers in new york. We have the ceo. That is coming up next. Welcome back to countdown. Lenola conference starts today. Industry leaders gather in london. One of the keynote speakers is the get taxi ceo. He joins us now on set. Thank you for coming in. For those who have yet to dabble in what many people are using, uber and all these different apps, tell us how yours is different. There are many new entrants to this space. Just to put things in proportion, right now, they are allowed just in new york. We are number one in this space. In london, new york, russia and israel, the big difference, we who offers aplayer complete solution. Half of the fortune five companies are currently our clients. Offer moreones who competitive and fair pricing, like the deal we have in manhattan where you can get a limo at the flat price of 10. That is fairly incredible. I was reading through your notes. You are offering drivers in new york a better deal to come on board with you. Is that how you steal the margin in these geographic centers . Is that critical, the scale of quality of the driver . I have slight issues in the morning. I look up and i end up in various parts of london. Quality, we are the only company that works only with licensed type of taxis. We dont have any regulation issues. Insurance, quality and training. In any geography, new york, london or other places. In terms of the offering, we focus on offering this is the best part of our competition. It is something that not just uber and their different pricing , we provide the alternative. Company who is profitable in that space. Sounds it is a good deal. You say you are flat and predictable. Suggestion, that one of your competitors is a bit opaque, it is not clear how much you are paying . We started with b2b early. One of the great models was predictable flat pricing. We now allow this flat, predictable fixed pricing also for b2c. You see that in new york where you can get predictable, flat and stable pricing, very compelling for many people. You say you are profitable. You are in many markets. Founded only four years ago. To getting tocret profitability quickly . Many startups take a lot longer than that to reach profit. In 22 outprofitable of 24 markets we operate. As a company, we are going to be profitable next quarter. It is the only company in that space right now. Efficiency,bout good financial controls in what we are doing, and second, being really attractive for both segments. We are pretty popular among the b2b clients. That is a very nice stream of revenue. You had a good run with venture capitalists. In with us andc she was talking about taking new startups and derisking them. What has been the biggest uturn . Any company that is still growing 400 , expected to be 500 million next year in revenues, already profitable in some markets, will be profitable next order as a company, it is very healthy dynamics that leaves a lot of potential for both investors and the company. What do you think of the valuation . Some of these valuations of startups are quite staggering. Doubledigit billions. Whether it is the mobile phone space or other tech startups, are valuations a bit frothy . Our comparisons to be made between now and the tech bubble . We need to take things in proportion. We will generate half a billion in revenues. If you take you dont find examples of companies doing about 100 million and going 400 and being profitable. That has never been done before. You would find those multiples. Will you be still reporting those multiples in three years time . We will see. Even if you take the absolute numbers that we are reporting now, they are pretty interesting. Thank you very much for joining us today, the ceo of gettaxi. One report says an investigation will clear cafe of bribery allegations. We will have the next on countdown. One report says qatar didnt arrive its way to victory in the battle to host the 2022 football world cup. According to the bbc, an inquiry will clear the qataris of corruption when it is published later today. Elliott gotkine has the details. Does this put the matter to rest . Im sure there will always be people that say there is no smoke without fire. If the qataris were alleged to have taken bribes to get people to vote for them, there must be something to it. The fact of the matter is, according to the bbc, this report by fifas own internal ethics board will exonerate the qataris from the corruption allegations. That doesnt necessarily mean it is going to be a world cup without controversy. They are still trying to work out when it is going to be played. Usually that turn eminent is played that tournament is played in june. You simply cant play in that kind of heat. There have been allegations regarding the treatment of laborers working on the construction sites for building the stadiums that will host the world cup. Ultimately, this report will according to the bbc, exonerate the qataris. So the qataris are in the clear, it seems. But the English Football Association looks set to be criticized. Interesting little turn of fortune. Perceive the english to be whiter than white but according to this report, the english fa will come under criticism by this report for its relationship with jack warner, former vice who facedof fifa various corruption allegations. The English Football Association which was one of the key drivers of pushing for investigation into the qataris look like the ones that might get a little bit of a slap on the wrist when this report comes out. It will be interesting to see as well what the sponsors do. We heard that emirates wasnt going to renew its sponsorship after this year. That might be something to do with rivalry with the qataris. Airways might have to try a little bit of guerrilla marketing. Elliott, thanks a lot. Elliott gotkine in tel aviv. Coming up, signs of revival for the irish tiger. We will be speaking to irelands minister of state. Dont miss that conversation first on bloomberg. That is coming up next. Welcome back to countdown. Im manus cranny. Lets check in on the Foreign Exchange markets. A little bit of volatility again. The yen is down against 15 of its major counterparts again. Breaking through sevenyear levels at this stage. Abe has s declining as decided he is prepared to go to the country before christmas. Well tell you about what happened in 1991, 1992, 1997 and 1998. Nothing to do with my trading strategies. More with intervention. Stay tuned for that. What happens with the yen has a ripple effect. The aussie Deputy Governor came out and said the australian currency has further to fall when the fed tightens. The aussie dollar is overvalued. Intervention is an option still on the table for the aussies. Done a rather on volume luted trade. Convoluted trade. The European Union and the u. S. Are considering further sanctions against russia. Nato said russia sent further troops and equipment into Eastern Ukraine. Sanctions could be agreed as early as monday at a meeting of e. U. Foreign ministers. President obama is in myanmar. I. S. Is attracting a growing number of militants from the region raising the risk they might return to their home countries and carry out attacks. It was a brief encounter for the rosetta probe that landed on a come it in the solar system. Scientists had lost contact with it. The manager of the Landing Program said it is complicated to land on a comet. Understatement of the day. Nearly a year since ireland exited its bailout. There has been something of a recovery since the dark days. Return prices fell 47 from the peak of the market in twen. The budget deficit rose to more than 32 of g. D. P. And in 2010 the dublin government accepted a 92 billion fragment the e. U. And the i. M. F. Which allowed ireland to capitalize itself bank and avoid defaulting on sovereign debt. The budget trimmed down by just over 7 at the end of 2013. At the end of that year, ireland exited its bailout. This year industrial output has rebounded, led by demand from the u. K. And the u. S. Lets get more on this. Good morning. Thank you very much for joining us. Ireland has it turned a corner . The economy . Is it fair to say that it has . The phrase turning the corner has been used so many times over a number of years. But no matter what economic metric you take and apply to the Irish Economy, i would contend that we truly have turned a corner. We have gone from being the poster boy to perhaps a basket case economy to now being back at the Fastest Growing economy in europe and the fastest employment growth in europe. The Irish Economy has made significant progress. It is not to say there are not still significant challenges. Unemployment is down. There is still a long way to go in that record. Regard. Looking at giving Something Back to people. Looking at tax reform and investing in public services. What has been learned from the crisis . The irish Housing Market was key to the troubles ireland found itself in. There has been a suggestion from the central bank, a proposal to cap mortgage loans. To stop a new bubble being created. It is for the central bank there is a consultation going on. The central bank will make a decision early in the new year. You are correct. Property prices are rising in ireland. Rising at quite a fast rate. Look at the amount by which they fell by. We very much believe it is an issue of supply at the moment in terms of any potential pressure on the markets. The government will shortly be announcing a new planning bill. We basically need more housing supplies. Particularly in the dublin area. Lets talk about why youre here in town. You have the financial district created a number of years ago, youre hear to galvanize knowledge about the i. F. . Its big appeal when i started in business, the tax incentives. What are you doing about that . Why are you here . What is the message . Im here for a simple reason. They tasked me for dweist devising a new strategy for services sector. We have been trying hold our own. We have been fighting for economic survival of our country. The fire is now out. As part of that, ive been consulting with stake holders. I hope to have a new strategy to government by february of next year and published by march of next year. The reason im here is one, reck higgs in addition of the important relationship between the u. K. And irmede. And a relationship between london and the Financial Services in irmede and crucially what i did last night and am doing more of today, it is about getting other views on the Irish Economy. I dont want to have a consultation that just talks to irish people at home. I also wanted to tap into the knowledge of people like yourself. This afternoon bile meeting with the British Chamber of ill be meeting with the British Chamber of commerce. What do we need to do better . I have already picked up some good ideas. How concerned are you about the frocked relationship between the u. K. And the e. U. Now . That side the first part of me question. Do you think it is possible that the u. K. Could leave the e. U. If and when a referendum takes place . It is a matter for the british people. It would be foolish so suggest were not interested in that. The u. K. Is our biggest trading partner. 40 of our food that is exported comes to this country. We clearly have a very important true tr in the future in the u. K. In the European Union. We hope they remain in the European Union. We need to see detail of that. Ireland is remaining in the e. U. , very committed to tembings u. They want to be in the e. U. With britain. We have had a constructive relationship to that on so many levels. Wouvent big points of one of the big points between ireland and the u. S. , the tax policy that has been followed, one of the tax planning options. What assumptions is the government making about how many company also leave ireland . How many do you think that came for the Tax Advantages and will leave when they disappear . We would argue that perhaps we have first mover advantage. This is a process that the Irish Government is participating in proactively. That is going to something that ireland always wanted to look at. What we decided to do, what our minister for finance decided to do in the budget is rather than waiting for the process to bring people to an end point, ireland was never looking for making it easier for companies to hide their tax. By ending the tax measure that you alluded to, effective to new companies by january 1 and hased out by 2020. Thank you very much. Coming up on countdown. Things are heating up in Eastern Ukraine. The west is weighing further sanctions against russia. Were live to kiev with the ukraine Prime Minister. Stick around for that interview with ryan chilcote. 1 at what point does japan sell the dollar to halt the yens decline . That is the subject in todays bart chart. This is a chart going back to 1990, before i take you on a tour of history, the yen since october 31, when the b. O. J. Unexpectsedly expanded its stimulus has fallen more than 5 pblet to a sevenyear low. The question is how much further does it have to fall before authorities intervene in the market . See the three circles that i put on this chart. The last time was 1998. In those four years, each time the japanese currency was weaker than 1. 25 per dollar. That green line is the magic line. 1. 25 to the dollar. Today it is trading just below 1. 16. 1. 25 likely . Yea said a b. O. J. Trader. He said a move could happen in the next few months. Hedge funds are the most bullish on the dollar against the yen. Even if the yen falls to 1. 25 against the dollar, could authorities actually intervene . One former official warned last falls hat further abrupt could halt transition. The interim solution might be a change of language. This is what you have to be aware of. When Authorities Say Something Like this, were ready to take decisive or bold action to count errek sessive or speculative moves. Im not suggesting that is iminnocent. You know the first selling of dollars imminent. History tells us 1. 25 against the dollar is the level to look out for. Back in 1998, that was when it happened. That was the last time the b. O. J. , japanese authorities intervened. Equities set to open in 15 minute or so. A little bit higher this morning. Thats what it looks like outside now. After the break, well talk to you about what could be happening if the markets and well talk ukraine as well. Ryan chilcote has been following the developments in ukraine all morning. You have the Prime Minister Pavlo Klimkin online. Thats right. A lot of things going on in ukraine. Can you give us an update on where things stand this morning . Yes, absolutely. The situation on the ground is very tense because of a number of case s of breakins. It is not sustainable. Afterd to agree on the the socalled elections on ovember 2. Which would drive the situation nowhere. If we dont find a clear solution for that. Foreign minister, what is going to happen next . A lot of people guessing now. What is your intelligence telling you . Yes, we have from many sources a clear set that they have been trying to regroup. Trying to strengthen their position. But also trying to concentrate on important directions including the south one. We have different bits of info. It involves more and more heavy weaponry. Are you expecting an attack. Well, we are of course prepared. What we need is deescalation. We need real politician solutions and we have been trying to get across a clear message. It is about control of the russian Ukrainian Border and the closest border we have been getting the clear for we need a real breakthrough of hostages because we still have up to 500 hostages. They live now under unhuman conditions. We need a real breakthrough. What is important. We need to stick to minsk arrangements and not to break it. You mentioned the ceasefire, the mising protocol. Is that dead . No, we need to stick to the protocol. We need to stick with the security line. We need to withdraw the troops after 15 kilometers from the line. It is critical for recent sustainable ceasefire, but of course it is about russia and errorists in donesque. They have to cancel after elections on november 2 ukrainian citizens living on ukrainian soil elect their representative according to ukrainian law. Has your president and the russian president spoken recently, or are there any plans for them to speak . They were speaking frequently. Are there talks underway between russia and ukraine . Last time they spoke to each aher in milan, but there were number of phone calls, as you know, it is all public. You could have all kinds of information on the president ial website but it is difficult also in the practical consultations, because what we need is contacts between the border guards, for example, you know, to ensure effective control of the ukrainian russian border. The Russian Foreign minister says you should be speaking directly with the rebels. Are you going to do that . We cant negotiate with the terrorists. Of course any kind of contact with them are important. In the sense of releasing hostages and agreeing on the line. A special mechanism. We have our representatives, the former ukrainian president , but also a russian representative. We believe it is for consultations. We were able to agree on socalled and to have to go on with this format. Prime minister, how concerned are you that the west may have decided to let the east of ukraine go . That they are not going to put up the fight . How much help are you really getting from the west now . Look, it would be the most dangerous mistake for the west and i have to be absolutely open about that. Because there is no way how to oduce another kind of frozen conflict from donesque. Because of the context of the situation but also because of the humanitarian catastrophe. Ith eke logical and in that sense, the energy of ukraine is not just a president. It is an st. Louis goal for assuring security in europe. What we need now is a very clear message. A kind of concerted message from the European Union, from the u. S. , from the whole civilized world. To help ukraine and to assist ukraine in the situation in donesque. We dont have much time. The u. S. And European Union are meeting today discussing sanctions. How far are they prepared to go with sanctions . The german chancellor said there wont be any more economic sanctions. Sanctions is just one point. Hat we need is a pressure to keep the escalation on track. Again, sanctions are important ut just one integral part. In that sense werks need a clear way how to communicate to the russians and to deliver all right. Foreign minister, thank you very much. Unfortunately im going to have to leave it there. You can catch that on our twitter accounts. On the move is next with jon ferro. Stay tuned for jon ferro on the move. Thanks for joining us. Welcome to on the move. Lets get straight to the morning note. Russian troops have entered ukraine according to natos top military commander. Representatives of the e. U. And u. S. Are meeting in brussels to discuss imposing new sanctions on the russian economy. Chinese Economic Data disappoints. Commodities continue to get crushed. The price of oil is down 30 from the high in june of this year. This hour we speak to the global head of Commodities Research at goldman sachs. S p missed estimates sap missed estimates. They struggle with growth in europe and asia. We speak with the c. E. O. , alan clark. Dax futures up about 1. 55 this morning. We may get a higher open. Thank you very much. Good morning to you. In the past four weeks, the world is wealthier. Approximately 3 trillion wealthier. Why . Because stimulus is here. Stimulus is king and in the absence of any great conviction from the fed, dont worry, there is plenty of q. E. To come. Will he go on december 14 . We have nato. It looks as though the