It is just on 6 00 here in london. Oil producers have already got down to business and the leading players supply one third of the world posco crude oil got together last night to see if they could preemptively agree to a cut in output. Interviewgot the only with the chief executive of the biggest publicly traded oil rosneft,raws left what did he have to say then . It is a dark morning here and cold in vienna and especially for those were hoping for Higher Oil Price because the man. Coffer their hopes yesterday the stage was set for a grand deal between saudi arabia, venezuela two countries from opec and mexico and russia two countries outside opec to agree to cut output to boost prices. The first three of those countries mexico and venezuela and saudi arabia cooperated in 1999 when oil had just dropped below 10 a barrel and there was hope and suspicion that they might do the same thing yesterday, alas i spoke with him just as he came out of the meeting and he said oil is tumbling saying effectively no deal. We decided to monitor oil prices over the next year and if the prospect of more consultations. Possibly every quarter if necessary. Monitoring isnt a supply cut. Rush upon oil industry was privatized a long time ago, there are private owners and there are peculiarities to working in russia. Like the climate and the just ticks. Logistics. Russias Oil Producers will , demand market demand and efficiency are the main factors determining supply. If the demand and the price are adequate for the amount of investment we are prepared to work with that situation. This idea that russia would cut production by 3000 barrels a day in return for opec, what is up with that . Russian Oil Companies are used to working at various , a decline in the price of oil even below 60 is in surgery medic for us that it would require an immediate cut3 cut. Comments said oil to a four year low with prices tumbling about 3 , they were up 1 going into the interview and 2 yesterday not sure we will get a cut in output here in vienna that it is still early days. 27 hours until the 12 countries that are in opec sit down and it is still possible for a cut. The oil minister of saudi arabia spoke with reporters yesterday and acknowledged as he put it that there is oversupply in the market but of course that doesnt mean he is going to cut. There is the problem of shale production and saudi arabias market share their going into this meeting you guys know this that market analysts and people that watch the price of oil day in and day out are split down the middle as to what opec is going to do tomorrow. Vienna today and tomorrow. Lets stick with the oil sector the french oil producer will face trial over claims of production corruption. Relate to aons radiant contract stating to the. 990s and early 2000 he and two a radiant middlemen will face trial which is unlikely to start until next year, just last year they paid nearly a hundred Million Dollars to settle criminal and civil allegations that it paid bribes. They are still reeling from Falling Oil Prices and the death of the chief executive last month in a plane crash. President commissioned bail the plan today to find 315 billion euros in new projects and it is yet another attempt to goad private investment back to europe with hans nichols joining us from berlin. How much money are we talking about here . When will projects be shovel ready . In terms of new money were talking 16 billion in guarantees from the eu and another 5 billion and the European Investment bank and in terms of the timeline theyre talking about having the funds be ready made 2015 and what they really have the eus backstop the guarantee and back some of these riskier projects. They would be the first amount of money that would be wiped out and the idea is to get a multiplier of fact which is 15 with the initial seed capital will be in that will spur investment, growth and jobs. Lets look how he is doing his algebra, not sure if out of a or trigonometry but clearly he has multiplier effects. Initially we have 21 billion which is the overall backstop and when you break that down unit 16 billion in new eu guarantees and only 8 billion will be coming from the eu but no countries have actually been the hardesttribute, money is a 5 billion from European Investment banks and then this multiplier effect. It will obviously be a very easy week as he is unveiling his planet salzburg today and that is the first step of it and then thursday the European Parliament votes on resignation over luxembourgs sweetheart tax deals. That will be a big moment and perhaps an awkward moment and then on sunday there is the deadline for the decisions on each Member States budget and of course we do not know what will happen with france or italy but those are two countries that i will be looking for to see what they have to say about the size of this fund, is it just a leveraged p e ratio or is this enough real money to start spurring growth and investment, you look at what the actual contribution will be lets take the 21 billion number in the eib thinks that will allow them to put 60 billion out and loans and they hope to attract five euros of private capital for every one euro that is backstopped by the European Investment bank, pretty leveraged deals, not all the deals will have the same averages because some of the more risky and some more certain he will see where they take off and whether or not the funded takes off and what the reaction is in the coming days. Thanks a lot you can hear the Investment Plan from the man himself and i have at 10 00. Were bringing you live pictures this morning from ferguson misery. Protest ferguson, misery. Ferguson, missouri. It prompted violence back in august and and we saw that decision by grand jury yesterday meant to return to violence but jay nixon has ordered more National Guard troops to ferguson and polices siding protesters for Unlawful Assembly this morning and the focus seems to be the extent to which we will or will not see protests spreading to other cities. Join the conversation on twitter with ferguson continuing to trend on twitter lets know what you think about the developing story and this Huge Investment fund that will be announced today by jeanclaude ,ith anna edwards and me another thing that will be trending on twitter is the latest trailer for the newest drastic park film which i watched yesterday and i am very excited. Up, two scary for me. Jeanclaude has cash up his sleeve but will 315 billion euros be enough to revive the block will put that question to our next guest. Inid tinsley and he joins us two minutes. Welcome back time for the company news. A threat to split up google should be a last resort to prevent from discriminating against the small businesses. That is according to an eu lawmaker. Washington has also weighed in on the eu inquiry including to the Financial Times report. Theyve expressed expressed alarm they have expressed alarm over the activities. Will be told to apply for the right to be forgotten to its website beyond the eu under rules being drafted by privacy regulators. The challenges facing whitmanpackard with meg are a little clearer. As she prepares to split it in two fourthquarter sales have missed analyst estimates. Revenue fell to 24. 8 billion as the cup company suffered from a peckish personal computer market. A deepsea sonar search for the missing Malaysia Airlines flight will find wreckage from the plane, that is according to the lead investigator, the operation has lasted 263 days and so far has yielded nothing. The searches are now confident the plane will be found along an arc in the southern indian ocean which matches the last transition from the plane. To one of ourack top stories the eurozone is getting of take boost. More from our guest David Tinsley at ubs. His is another form of financial chicanery turning 21 billion euros into 300 like that . I think the first thing to say in principle is the plan is sound if the eu economies are performing on the supply side, sort of naturally side by side would be a large investment in infrastructure, so in a sense the underlying logic of the plan is sound, but of course we have been here before and we were here in 2012 and we announced a slightly smaller plan but the same sort of idea. I think the market is right to be skeptical in the first instance. Depends the extent to which they managed to persuade the private sector to join them in this investment. Anything, it is up 3 of eurozone gdp spread out over a year so that is a significant amount of cash if you dont get the leverage they are looking for you will just end up looking at the public fund and it is much smaller. The quote i like is from the who says it is not a magic wand with which we will be able to miraculously invest ourselves out of a difficult economic climate. There are two reasons to do this a fiscal reason and a structure thing. The structural reason is sound about investing on the supply side and making improvements on transport and infrastructure and all that stuff, the cyclical story 2015 will not be touched by this sort of plan. Lets talk about the broader challenges that face the eurozone and one of them could be handled when we get the Inflation Numbers and it comes before the ecb december meeting and some people not everybody wondering whether we will get a further boost to quantitative bond buying,he what are your expectations for this friday the inflation number im sure we will get another very soft number because it is continuing to show decline but to qe, our central case of the house is that the political discord teasing negotiation needs to get to through to sovereign qe but clearly given the weakness and activity we have seen the risk is increased. At our nextt meeting is that we are going somewhere. Is there an argument that we need it in the euro zone because companies are reliant on bank debt and therefore anything that pushes down the cost of borrowing is a good idea or do you say yields are low enough already and Interest Rates are low enough already it is not worth the political challenge to disagree . Primaryely on one channel in the euro which is pushing down the euro and you do get this earlier with balance and affect were people take new cash investors outside the sun that increases qe so there is justification in the economic rationale to do it but probably not as strong as saying as say in the u. K. s case. The average yield bond is below 1 , quite incredible isnt it . Tomany 10 year yields fell record lows yesterday at what juncture do investors in the bond markets are to say, we might not even get qe . Surely yields cannot go too much lower . I dont think they can, rate expectations for the eurozone are miles into the future in terms of the first hike so i think they probably cannot go a lot lower but there is no obvious trigger in terms of inflation activity that will spike them higher in the short term unless we get some kind of upsurge in risk in that you might see peripheral bond yields like now. You have any expectations of Inflation Expectations . Mario draghi highlighted that on friday. I do think there is a chance for that in the near term you probably have six months of very low inflation. The Central Banks look through that . They managed to look through the noncore inflation in some states do you have to take it into account . Intoe you have to take account when youre close to zero when you have policy rates on the floor, you cannot easily lower policy rates at all and qe is you have to take into account on the downside like you would not on the upside. Gdp report out of the u. K. A little later and david will give us his view on that among many other things, stay tuned. We are back with david the paneuropean economist with the second reading of gdp for thethird quarter and. 7 is the estimate from the analysts at we have surveyed. Have we seen the peak . 9 , isnd quarter was that as good mark carney yesterday once again concerned about the heightened external risks. Perspective, the external risks may be overdone. When you look at the strength of the u. S. Final domestic demand yesterday and the fall and the oil price that we have seen you this weaknessegg we have seen and the eurozone impacting the u. K. Because the eurozone has been week for the last two sure years in the eurozone and the u. K. Has grown very fast. My main concern is the Housing Market slowdown so i do think we have seen the peak but i would not labor the external story too much. Interesting because the Housing Market although the bank of england met last minute mention the slowdown i think your takeaway was that they seemed quite relaxed. I think thats correct, they mention the fact that the Housing Investment might call but they dont really talk much about the impact this might have on consumers in terms of their sentiment and in terms of buying goods and consumables and those things and those the things that would concern me. Are those things that are them england making . The slowdown . Potentially it is but when ford guidance mock one was in place in the bank was saying we are not going to raise interest , they made their way into the Housing Market and of course it is become much more nuanced, the rates outlook and partly as a result of that activity have regulatory stuff as well. It is more interesting the debate within than one might seven arethin the those that dont what high rates, it is more nuanced. How is that going to unfold . The key here as we said many times before is the average earnings growth, we do see this vague glimmer of a rise in earnings over the next couple of months and given that they have hung so much on that in terms of a reason to keep rates on hold, i think they will have order to quite hard in not have to shift rhetoric a little bit. Lack ofage earnings and Wage Inflation is a bit of a headache for the chancellor as well as he tries to balance the books. We are looking ahead to the autumn statement, what kind of tightening or giveaways are you expecting . Our central expectation is theyll have to talk borrowing up over the next five years so as a result of that there is not a lot of wiggle room in terms of giveaways, but probably within the envelopes he could assort afford Something Like 5 billion furtheriveaway such as pledges on the tax allowance and maybe Cutting Corporation tax fiscal mandates or not . They will they always need those fiscal targets. Member gordon brown doing the same. Thank you for joining us david. Coming up, running street battles in hong kong, prodemocracy protesters will be live at the scene after the break. Lets leave you with live pictures from ferguson, missouri after a grand jury decides not to charge a Police Officer for the killing of unarmed teenager michael brown. Quirks welcome back. Lets take a look at the dollar against the yen. You know who i am talking about. Theot the nickname back in 1990s for his influence over the Japanese Exchange rate and he has been speaking since the middle of the year. It is unlikely to match crisis on the financial wasthe year to date charge afternday low last week there is 1. 5 years and a growing chorus of voices who figure that the yen may be weak enough and he said that it will soon start to benefit as they loosen the choking effect on the worlds third biggest economy. Speak, theyn they tend to listen. These are the top headlines. Of world and that says they will not cut profits. They said that russia, saudi arabia, and others agreed to monitor levels and would not have a cut in production. Russia would not cut if oil fell. Teenager ack Darren Wilson said that he feared for his life and he felt like a fiveyearold trying to restrain hulk hogan. Riotingted nights of and the protests continued in the second day. Is the i on the market message from officials. Low Interest Rates are prompting investors to take too many risks. Report,ng the stability he says that it is keeping a close eye on real estate and that some investors should be ready for a market correction. They should prepare this. Lves for in case Market Sentiment changes, there may be talk of inequality in the Financial System and any investor has to be very much aware of this possibility and take precautions against it. Prodemocracy campaigners are live. Protests. Biggest what is the latest russian mark that is right. There are some trucks cleaning up the remains of what ever belongings are on the street. And iteared protesters is off of a major thorough fair in hong kong. This is outside of government offices and there are still a large number of people protesting. Are tends laid out a littled out and under a kilometer was cleared today by the police. The have been enforcing an injunction. They had asked the police for help and they cleared the area quickly. 19 minutes, i would say. They were not aggressive than we did not see use of upper spray or teargas. Spray or teargas. They were making sure everybody got out of the way. What was the second largest andest site is now clear the police say they are resolute and are not going to allow be opened up streets to be occupied again. They will be on watch for the next few days and throughout the night to make sure the roads are not taken over again by protesters. And when been cleared will those be cleared . It was cleared and part of it remains. It is a small area. The main protest site is a and itcant part of this picks up a major highway through the city. There was an injunction we will have to see how long it will take for the Legal Proceedings to be completed. There may be some action. Now, the status of that is unknown and well will have to see if it will have if it will happen. It is a big day for google. There is a European Parliamentary vote calling for a breakup of google. Here is caroline hyde. Good morning. Good to see you. It looks like they are coming under fire. This puts the u. S. Against europe and it is about politics. We are approaching a parliamentary vote tomorrow at ofe call for the unbundling Search Engines from other commercial services. It does not name google. It is targeted at will. Frustrated the ownership in the market and the allegations surrounding them promoting their services. Havethe u. S. Politicians picked up what is being debated and are fighting back stop and are fighting back. Three open letters have been sent that propose that they are andnst u. S. Tech companies building walls and not bridges. They say it will have a negative affect on the relationship for trade. They are accusing them of being motivated by politics and, some lawyers seem to be backing the u. S. Payeray to ask a global to adapt the structure would be again to europe. Parliaments the attempts are antitrust popular thats populism. Parliament has not decided on what the final statement might be debated. They have not decided on the wording of the vote and antitrust regulators say they want to toss it. That are stepping back from the more extreme calls to break it up. They certainly are full up i wonder if there will be mentions of unbundling. Were hearing from the new digital commissioner and he said there could be fees on google and was against this. Breakupying that any would not happen on his loss watch. The person behind the potential vote has said that a split up of google should be a last resort. They are trying to distance themselves and we do not know if unbudleinging if undling will come up. They can put in extra curbs and they have less power when it comes to competition. Some people remember when they took on microsoft and some of the products. A lot of this goes back a long way and is years in the making. This is why we are getting them wanted to put this forward. They are frustrated and this has been going on for five years. The accusations that they do not allow them to promote. For years, they have been throw and under investigation. It is not going anywhere. She is the new competition chief and decided they will not be settling with google. Rivals thought concessions would not solve the problem. Going to hear from those most directly affected when Something Like this is hanging over you. There is growing frustration because google is being chris sized by the right to be forgotten. Remember the outdated and not realistic mentions of you on google. They should be allowed to on your request. If you or i are going out there and say you want something removed, it shouldnt just be google. Creeps out into the plus press. Notifyingit routinely media. We will be following this story. It will take place tomorrow. What do you think . Tell us what you think. They are continuing to trend on twitter. Tell us the stories you want to hear about. Mark barton. How much do you think mover is worth . Uber time for company news. Beryou ever wondered what u is worth, 40 million. The funding would be double the valuation in june of this year. Apple has made corporate history again. Valuationhit a record yesterday. That is a milestone no other u. S. Company has reached. Investment in apple has been growing since the larger iphones in september. Investigated by the Justice Department that the currency trader leaked confidential information to a hedge fund. The information involves a large currency order and was passed on under a proposed accusation acquisition. Slightly smaller scale business after turning the back on insurer plans for Hedge Fund Operations scaling back in the united states. They say they will shut down the Hedge Fund Unit by the end of the year. Are drawing attention from consumers and disrupting Business Models. How do the companys work and what do we attribute to their rugs. Anyone with assets or risk can be part. The proliferation of the internet and access to mobile apps has given rise to platforms. You have participated in the sharing economy if you have booked a taxi with uber. The government has commissioned thevalue of a report on value of the potential and the author of the new report is here. Thank you for joining us. Byperhaps you could start defining the share of the economy. Do you have to own it or do other businesses around this qualified . Andeople have always shared with mobile phones in the last few years, you are not able to share with people you have never met before and that is how i define the economy. ,or the purpose of this report which was a huge undertaking, meeting with hundreds in the space and taking it for 1000 people, i decided that, to make toreal, companies have transport from ridesharing to zip car. You do not own a car. You use a car you do not own. Like taskrabbit to buy peoples time to perform a task. How big is the sharing economy . And there are figures to help us understand what that means. There is a piece of research that is currently worth 9 billion globally and is said to billion. 225 they are big businesses. Why is this important . Why have i put the Research Together . Onlineults are sharing and we are doing it. We are set to do it more. There is the opportunity to make the u. K. The home of the sharing economy so that ordinary people can make more money. If you look at that, the estimate is that the average member is making 3000 pounds a year. That is interesting. You have proposals coming through. One is to pilot a sharing city. Could that take off . How tough this regulation have to be . How do Insurance Companies work . Are other countries in the world trying this and they are in seoul and answered them amsterdam. They have the opportunity to work out in the city and how could this all worked out . Andcould still sharing looking to job centers to ensure that people in job centers are. Earning how to make the most that. E what is the space . You mentioned goober. You can use the example. On the front, in big letters, how does it marry regulation . Andt is a great question the report makes 30 recommendations. I would say that this area is complex. Sharing has been around forever. Many of the Business Models our new. If you look at the accommodation thethe new areas of economy, food, fashion, logistics, they go up against regulation. It is not only local. If you look at the much groups, a lot of it is coming up against regulations. We will see a lot of changes. They are coming up against incumbent providers. What about the other sectors . With Car Companies dislocations in those markets. The point i would make is beenmy report has exhaustive and independent. Ive taken a lot of time during the process to talk to people and bsoperating there are companies with models teen challenge. I will give you a quote. It is part of the process to k to congressional traditional operators and see how they you will about this. How are talking about models will transform and that is something that virgin is looking at. Market and the people are building. Harnessing thet power of the sharing economy. We will ask him. We will try. Great to have you. The ceo. Manchester and byron munich. It is. Stay with us. Newspaper time. The killer facebook plot. He is accused. They spoke is being accused of being a safe haven for terrorists. Their facebook pages were on. They are saying to not use the merger as that. Internet company should not be the of the state. They are still in the champion stages. What a roller coaster. They scored two in the last five minutes. Well done. Dallas hard. More conversations are coming up. Oil production, unit if the price falls. Exclusively to bloomberg. It is not so dramatic for us that it would require an immediate cut. The new deal. Unveil a package. Eu maker says that they should only be broken up as a last resort. Welcome to countdown. I am mark orton. The meeting starts tomorrow and they got down to business. They supplied one third of the new worlds crude oil and they could preemptively agree to a cut in output. They say he got the only interview with the chief executive in the largest. Good morning. What did he have to say. It was a cold and dark night. Dashing effectively their hopes with that. The stage was set for the price of oil to rise. You had four countries gathering. And, mexico and russia. They are all talking about boosting oil prices. Oil went below 10 a barrel. The first three of those countries agreed to walk parade together and the price of oil shot up. The ceo of the oil the largest oil producer. He told me, effectively, the times. We have more consultations. Quarter isery necessary. Russias oil industry was privatized a long time ago. There are private owners and key julliard is to russia. Like logistics. Peculiarities with russia. Like, logistics. Russia will react. And demand and efficiency are the main factors. The demand and the price are adequate to the amount of investment and we are prepared to work with that situation. The idea that russia would cut production, what is up with that . Russian companies are used to working. Dramatic is not so that it would require an immediate cut. Those comments would not be a deal sent to the fouryear low. It was up about 1 yesterday going into the interview. The price of oil was down. Investors are skeptical that we are going to see a cut. They meet tomorrow, 26 hours from now. Well have to see what they do when the configuration of countries comes up with a deal. Energy minister and asked him what his sense was. He said, no one was in the meeting yesterday. That is alongside the russians. It is a critical situation that in the markets. Down. Ts are split going many think he will keep the status quo. Lets stay with the oil scene. To the according Financial Times. Theallegations relate to 1990s and early 2000. A trial was unlikely to start until next year. Paid 400 the Company Million to sell settle allegations that they paid rides. Allegations that they paid bribes. Hitting some breaking numbers from thomas cook. The ceo is stepping down. Be replaced. We will give you an update on trading. 2015 is moreor measured. Still positive. More measured. To improve the position and are encouraged by the booking and pricing trends. The coo will take over. Perry green joins the company when the share price was 14 and it had a market cap. Company on athe sound footing with 18 able to compete. The market cap is under 2 billion. Job done . We will see where she comes next. We will get it from thomas cook this morning. Breaking numbers coming through the sector this morning. Caroline is here with details. They have beaten analyst estimates. Profits are down not as that as expected. We have to remember the russian lender faces international sanctions. There is linked to the ukraine conflict that affects half of the banking assets. And the thirdwn quarter net income is at 71 20 fromnd down about last year. Betterthanexpected and we are seeing improvements in the amounts of money they are getting in by having loans, rather than money paid out on deposits. Nonperforming loans have gone up. You are getting restricted access with capital markets. That is a worry. More has to be the slowdown in the economy and the fact that you have the russian ruble. You have People Living in russia. People cannot pay off their loans. Nonperforming loans are on the rise. Charge of 245g billion rubles. It is not doing as badly as expected. What is interesting is how much hithis will continue to be by the ukrainian conflict and the sanctions. The central bank is saying that they do not see any engines i, in terms of how long this could go on for. This will make the economy sluggish in russia. Length you. Ferguson is continuing to trend on twitter. Let us know what you are watching. A story we are following is google. Should they be broken up . Barton. Mark harkin , the ceo isnlee stepping down. She said that she always would step down when the work was done and look for another business and another challenge. If you have ideas where she is going, get in touch with us. A Global Oil Glut this week. We are joined by stephen isaacs. Him where he is putting his money after the break. Welcome back. Time for company news. Last resort to prevent it from discriminating firm or business is full that is according to a backer of tougher rules. The Financial Times has reported that senior politicians have expressed alarm over the bundling of search from other commercial services. Google will be told to add the right to be forgotten. That is according to people familiar with the plan. Cost of heart sure is clear. Weak sales. They missed estimates. Tepid personal computer market. She wanted to spin off the pc and printer division. The search for the missing flight will find wreckage from the plane, according to the lead investigator. And so far,d days nothing. They are confident it will be found. A mark matches the last transmission from the plane. The travel company is stepping down and she will be with immediateer effect. She joined a couple of years ago and the share price was 40 billion. The plan was to transform the company and place it on sound financial footing. You would have to say that she has achieved that. Over is a share price of 130 and she said it is a company she is proud to lead. So, the guessing game begins. Electronic components and distributing business. We will see where she comes up next. The Global Oil Glut is on top of the agenda. Lets bring in our next guest. It is great to see you today. On falling thoughts oil prices. Show fora horror russia and others. Boon to consumers like in the u. S. And countries with account deficits. There is good news on that front. It is not exactly new news. It has been falling. The story means it is less likely that there is any turnaround and they talk themselves into nothing. The problems could be intractable. The speed at which it falls is important. We are a long way off from vindicating the longterm view and the cycle has blown up. Partly through increased supply. Ingenuity seems to confound. Partly through a global slowdown. We are a long way off and they have interesting implications. I think some of the emerging markets people have had concerns the ones that will benefit the most. The effect on the bottom line is substantial. Have done that piece on the investment strategy. Hedge funds and how they have been affected. Looking broadly, there was a rally around and it is fair to say that it is possibly likely there are no obvious clouds on the horizon and we can look at a repeat performance in the next year. Andour horizons are modest you look at other markets, like fixed income, where Interest Rate yields plummet and if one can have a strategy that is complete alpha and not affected by the overall market, which is hedge Fund Managing is. 10 , andrs to put in deserves a look. We have had an extraordinarily low volatility cycle. Volatility has been low. 2004 and 1995. We have not had a proper fullbacks 2012. I think there will be greater volatility. Hedge Fund Managers are feeling sorry for themselves. It is a strategy that has been out of favor because the alternatives seemed to be easy and because there was not much volatility full the alternatives best, ok. T solid. I think volatility will increase. We saw a nasty blow off in october and some hedge Fund Managers have done well. It is important to look at the new breed of managers. Each generation produces ars thathe reviews generations have done well and are sitting on huge personal fortunes ambition to put up with the aggravation. It is seatofthepants stuff. Stay there. Stephen isaacs. Welcome back. Recapping big news. She is stepping down and will be replaced by the coo. A great stat that he took over the stock at 148 million and now it is over 2 billion. Moving on. Will return to the story throughout the morning. Tephen isaacs is still here we talked a little bit about the hedge funds and we mentioned oil. Lets move the conversation to russia. What is your outlook for the russian economy. They are hurting. You describe the producers. Reliefe is no immediate and we are talking about longterm investment horizon. What is encouraging is that when the attacks on the rebels took place, they did not resort to capital control or wastes the reserves. They did the sensible things, unlike argentina or venezuela who compounded the mess with a poor intervention. Is one man who runs the country and he made a brave call to let the currency fully float. That means that there are 400 billion in reserves and they have a Competitive Exchange rate. We are still cautiously optimistic on russia. Another thing to remember is that we have physical stability there in many parts of the world and the rise continues pays. You have one man at the top and a Competitive Exchange rate. You have equity valuations. Worth thinking about. And the rise of insurgent parties like the u. K. Independence party. The implication for the u. K. Political scene in coming months , what is your outlook . It is wide open and will depend in on the campaign. Both of the major parties are shooting themselves in the foot. If it continues, they could make a breakthrough and gain seats. It depends on how they perform. Between is differences the u. K. Independence party and other parties in europe. Is this investment . Is there a way to make money . There are two ways to look at this. As insurgent parties challenge mainstream parties, the bankers are reacting. Draghis verbal jawboning gives the market what it wants in response to the fears that the situation in europe is out of control. What it means for the markets is that the good times will continue. The fears are not unfounded. They are genuine fears about what could happen in france and elsewhere. They are on a different trajectory . They are on hold. Again, relatively new news. We were talking about the fed moving and when it would move. Some people thought it would be the fourth porter of this year. It has all changed. Thank you for joining us. 26. News, green is leaving. A story that we are following. Stay with us. Welcome back full it is made full i am looking at that one. Mr. Yen has spoken. Markete yen speaks, the listens. He is a japanese gentleman who got his name for the influence over the exchange rate. Thepoke and said that plunge in the currency has run its course and that the yen is the mark andeach it touched an almost sevenyear dojone year after the started the easing. He joins the finance minister are minister who figures that the decline has run its course. He spoke in tokyo and he said that the yen will start to benefit as the increase in andns sales tax loosened we know that because the election has been called. I have listened. These are the top headlines. They will not cut production for prices. She said that they agreed to monitor price levels and would not coordinate a cut in production even if oil fell. Chief executive of thomas cook, harriet green, is stepping down. Tomsparture comes as took reported a loss after tax on revenue. She had been the executive since 2012. Darren wilson, the Police Officer who killed a teenager in missouri said he feared for his life before he fired his gun and he felt like a fiveyearold trying to restrain hulk hogan. A night of rioting was prompted in ferguson and the protests continue into a second day. Fund a project. Goad another attempt to investment back into europe. Hi. How much money are we talking about and when will the project be ready . It reminds me of you working on your patio creating jobs. It will not be ready until 2015 a bit of leverage in theios to get up project total. Here is what we are talking about. Were talking about 16 billion from the eu and another 5 billion from the investment bank. You take all of that and a 15age that to get you to to one leverage ratio. It will be a remarkable challenge to get all the capital. They will assume some of the wrist the the risky products. It will take faith from the banks to start lending and that is part of a busy week. New land anded his he wants to get the banks to start lending. , he faces a difficult having taxhey were havens and tax shelters. Week, he isf the going to have to rule on the budgets submitted by Member States. It could be an issue in france and italy. Are they going to be under 3 spending . Where are they on the deficit . Math, you aree talking about 21 billion in new funding and you hope it will bring in 60 billion in bank projects and loans. They hope to raise more money and get to that. Countries like france, will they say that this is enough money or do they want to see more capital and upfront money . Little too late . See you later. Stay with us. You can hear the Investment Plan. Lets shift years and take a look at the economy. We are joined by a british entrepreneur who knows a thing or two about the current and historical business climate. He has told out the brand for over 20 years and has decided to abdicate. Im sure we are not the first to use that word. The atmosphereh for the economy. How do things feel . Good morning. 21 years ago, in the early 1990s, it was recessionary and we have had a huge recession in recent years. Neutral, weg pretty would say. Shows a lot there of growth in beards. , globally, it is neither here nor there. It is a bit of a flux. You are stepping back. Is that akin to stepping back from virgin . Why . Strategy toplace a andy hill and the last five years, i have spent working with andy and i always knew that i would not be the guy who had, i came, i saw, i shaved, and i died. There is so much opportunity and so many things going on. I have a great team in place to grow the business. We are in a process with William Blair and there is a lot of interest in our sector with what is going on with dollar shaved and harrys. These alternative is this models, you pay a subscription and you get sent all the shavings year you could ever wish for. How quickly is the sector shifting . A lot of things interest me. Model isubscription interesting for guys who shaved every week, month, what ever duration. Clicking a button and having it delivered, rather than going to a larger retailer and doing it as a part of your weekly shopping is convenient. When you cut out the middleman and this intermediate, dis intermediate, you you said something about cutting out the costs and the founder of dollar shaved club says, stop paying for things you dont need. Is thathe is saying there is a six blade or four blade razor. It is similar to gillette. Where we are, it is about patents. A lot of patents are running out or are running out next year. Ampetitors have gotten to shave comparable to theirs. Without the razors you can just add water and shaved, that has patents until 2031. It is about getting that are markets onto the market. All of them use technology that was invented in 1976. What is the future of the Company Russian mark what is the longterm plan for this company . Is interesting that you say that. This is the value. Mobile phone companies are valuable because of the patents. There are a lot of applications. Into a love to inject couple of complementary sectors about how we could use the tech dont you use the technology. He is taken why somebody else. It is a business with a brand attached to it. I studied at university of portman and wanted to be a yacht designer. It is not just brand and it is not just selling. Designernted to be a and you clearly have interests. The project has come up against some troubles recently with the crash. That made you think twice. Are you still keen . I signed up seven years ago. That is all about pushing the envelope and it is about advanced technology. Not necessarily about taking guys like me up and town for not a long span of time. It is about serving up internet costeffectively across land mass and there are reasons why things are firstrate and why people like me are involved. Really interesting there is and setback. You interact with your customers. T is important to you i think it is huge. You have a loss of trust over the past six years with dates and financial institutions. Pretty much everybody. What i do is connect with our consumers, of which we have hundreds of thousands buying, to the shave. We are the king of shaves and knavee name of shaves of shaves. It is important to have a face of humanity and sincerity forward to your customers. ,he environment that we live in trip advisor, instant opinions, you need to be part of the conversation or youll find yourself left out and, who knows what will happen from there . Bought995, you shave. Com. We still own that. But how big of a part of the business is owning that. It is interesting. My brother is asked that that all the time. 1995 and i 35 in bought it on the phone. I charged it on my visa card. Amount and ishuge very deep in Search Engine optimization. We have never spent a dollar and that could be massive costs when you grow your business. We have had offers. Who knows. It is part of our dna, at the moment. To those whoson are starting up a business. You have been through recessions and had also its of issues. You have come through stronger and wiser. Lets hope. Give a line of advice for some who are thinking about starting up. Impossible is nothing. Just do it. Embrace change as a constant. There is so much going on in the financial world. Any spaceflight that, more importantly, enjoy. Three to leave it on. And, cleanshaven. Thank you very much. The king of shave. A week day for google. Looking at a range of measures. More on that after the break. Live pictures from ferguson. The police are giving a news conference. You can see the second day of violence in missouri after the grand jury decided not to charge michael officer for brown. A lot of focus on ferguson for a second night and in the u. S. , anyng to establish how far protest activity is spreading. Breaking news from saudi arabia. The oil minister says the market will stabilize itself. He says the saudis and others should not cut. There is a split as to whether they will do anything. Ryan chilcote is there. Producers should let the market determine the oil price. Comments and we will get more. Will cut prices. Right. Lets go over there. Time for the bar chart. We would ask the question what currency should you buy gold in. According to the capital investors, investors should buy in yen or in euro. I brought up a chart looking at gold over the last year. Andcan see the top chart gold in dollar is unchanged. The second chart, the gorge line, is up 10 . Up by 12 year to date. Director ofhe Currency Debasement concerns. You know what is going on. They are trying to revise the weakening economies with stimulus and the currencies are depreciating. The fed has ended the bond and is moving towards higher Interest Rates, lifting the dollar. Holders of the yen and the euro are better off in gold. By the end of the year, gold and theyh a high expect the price in dollars to to 1175. What currency should you buy gold in . Euros. N yen or it is a big week for google in europe. There is a European Parliamentary debate and vote them may call for a breakup of the Search Engine company. Here with more on the controversy, carolina hide. Give us an update. It looks as if members of the parliament are coming under fire. Andhis is european politics all about antitrust and competition. Havee in today and we members of the European Program debating and voting on a potential call for the unbundling of Search Engines. It does not name google. It is aimed at google. It has affected the Search Market in certain countries. Politicians have picked up and they are unarmed. Proposals are suggesting targeting Tech Companies in question the commitment to open the markets with a negative effect on eu and trade relationships. They have accused them of being motivated by politics and it could deter innovation. And youans are worried had a lawyer saying that europe asking a Global Player to adapt in this way would be a can to overplaying their hand. Another is saying that this is antitrust oculus him. We do not know what they will say. The second draft does not mention splitting up google or any Search Engine. Members of parliament losing patient losing patience with tackling allegations of tackling some Services Rather than others. Having a fewto be statements. One is coming from the eu digital commissioner. He has come out and saying that a breakup of google would not happen under my watch. A minister putting the resolution forward, suggesting unbundling other resolutions. The split up should be the last resort to make a change in behavior. There is a little bit of stepping back from a tough statement. All of this is surrounded with controversy around the behavior and how they reacted to other regulations. The right to be forgotten, they and kicking off the media so, google seems to be in the limelight. Thank you. They are in talks to sell the wireless carrier. These are called preliminary exploratory conversations. Saying thathey are they are concerned that they are in talks with the business they both operate in this country. They said they were in talks to buy the units or other mobile phone companies. Many people familiar with the situation has said the company would be an interesting story. 106 billion worth of deals in europe and telecoms. Uber is filling up their tanks for a trip. At company is valued 35,000,000,00045,000,000,000. Give us the numbers. Only on the weekends. They have legal challenges. Only on the weekends can you use them. Billion, raised 1 according to a person familiar. The covenant is guided at 40 the company is valued at 40 billion. We will have more for you in the. Ext show the sharing economy is a big feature. We will bring you on the move. We will talk to you more about thomas cook. Welcome to val chmerkovskiy welcome toskiy on the move. Output. S not cut. E speak exclusively. E are live Jeanclaude Juncker reveals his strategy for ringing investment back to the eu. After the region has suffered over the last few years, is it. Oo little, too late huber looks for uber looks for a 40 billion valuation, more than twice the value in june. European markets, they are pretty much a little bit makes. This is the problem in the ftse 100. Thes all about thomas cook. Ceo stepping down. A little bit of a darker outlook in terms of bookings. Lets get straight to the market open. In just 15 seconds, now 20 seconds into trading, lets see how we are opening. Across the board tends to be higher. Ftse up 1 10 of a percent. Similar in france. We are meant to be following asia higher overall, extending that twomonth high