Yesterday byraded daily stockbrokers in scotland. Bear in mind, a lot of new capacity coming online from the flag carriers and from the discount airliners. Those are the movers in london. Equity markets are rising. That is a iraq going slightly on the back burner and ukraine stepping off the risk front. 25 , margins being as g. A. A. Sga. They are present in australia. Rising, profits are but their margins are dissipating. Up 7 10 of one percent. , they have a pretty substantial holding in a company. They are going to sell part of that holding. The range they told the market, 200250. Percent. Quote, a five thank you very much. Pence, a price was 220 lower and of the range. A lower end of the range. Know, directors might be moving on the stock. Daily mail up one percent. I will take you to the dollar index because i will be cheeky and squeeze it and. Squeeze it in. We are in a whole new mode of when the fed will begin to consider moving on their rates. The chances of a rate hike in the United States has risen to over 50. 4 that they will hike rates by june of next year. The dollar drifting a little bit higher. Keep an eye on the block. Market open. He investors are trading on today. Lets start with the macro picture, if we could, james. On d of macro focus plenty of macro focus for the markets today. Lets start on the other side of the atlantic. Are we going to see anything to move markets from the fomc . I think we will see the fomc indicating the u. S. Economy is relatively that is what we should begin to anticipate, a shift down and Monetary Policy support. The recent reductions in bond purchases will lead to a lot of sensitivity. I think janet yellen will say, do not take this too seriously. We are much interested in shoring the economy. You are warning against the overinterpreting of the dots, perhaps. They will not do a carney. Mark carney is the governor of the bank of england, taking markets by surprised by suggesting that Interest Rates could go up in the u. K. He has a really difficult challenge. Inflation numbers down much less we are talking about 2 10 of a percent on yesterdays inflation numbers. Ensure the economy does not get ahead of itself in terms of raising inflation pressures,. Articularly Wage Inflation how to see an sure he does not have to raise rates above 2. 25 . If he leaves it, there is a possibility has to tighten quite aggressively to put the genie back in the bottle. Do you think he overplayed his hand with Forward Guidance . Do you think the statement should be interpreted as the big change of direction for the bank of england . Or was it a slight change in timing . I think the sheer is very very clearis year is that he intends to give more guidance. He is sending a very strong signal to people who want to invest. I think he will provide more guidance. I do not think we will get much from the bank of england minutes today. The key for me is at what point they change sides and say, we should be tightening because we should be tightening. Changing makeup at the mpc and that makes it a little more difficult to predict when will start to see that dissent. He is going to be a much more influential figure. I do think there is an interesting standoff within the committee. Those who are focused on Wage Inflation and those who are focused on unemployment numbers. If youre worried about employment numbers, harbinger is amight lie ahead, that much bigger challenge. How does this macro picture influence what you are doing at the moment . Is it a Guiding Force for equity markets . From relianceaway on the solid Growth Companies in the u. S. And u. K. A much greater focus on what the opportunities look like in your land. Euroland. They will do whatever is necessary to keep the party going. Meaning at this time is important. We will talk more about that. Bevan uch, james thank you very much, james bevan. Posting a 25 profit jump, but investors will remain weary where he. Wary. The tech world calls it the internet of things. We take a look. 12 miles in two minutes, a supersonic car that moves at 1000 miles per hour. We go for a spin. I am anna edwards and this is on the move. Here is a stock that is on the move. It is zoopla, an online property company. Is it a property company, is it a Technology Business . It is up by 4. 6 on the first day of trading for this company. 7. 3 in thech as earlier part of trade. The ipo offer price was 220 pence per share. Mail retaining some of its stake, saying they will sell a maximum of 40 of their current 52 stake in the business. Not getting out completely. Siemens chief takes is alstom proposal to french lawmakers after presenting a joint bid with mitsubishi. It is a different style, but it is the same message. Three weeks after the appearance of the ge ceo in front of french lawmakers, it was joe kaiser stern. Kaisers turn. He needed to convince the lawmakers that is best his offer was the best for france. It is almost as in portland as getting the shareholders as important as getting the shareholders on board. He had to reassure on jobs. His joint bid would safeguard french jobs and local investments. Make an offer to harm another company. We want an offer that will be useful for everybody to alstom, mitsubishi, to siemens, and to the alstom employees. That is what is at stake. It is not about dismantling. On the contrary, to reinforce the group. , ge responded last night according to people familiar with the matter, saying they will refine their bid on jobs by launching an independent audit. They will check how to give the alstomsre access to nuclear technology. Offer aslaunch a new soon as this friday. The mitsubishi ceo was also there, wasnt he . What did we learn from him . The question for mitsubishi is whether the French Company with a major stakeholder in alstom, 29 , will agree to sell a 10 stake to mitsubishi . Mitsubishi has offered 900 million euros. Stake, soto keep the i asked the mitsubishi ceo yesterday what he would do and whether he was confident that they would accept his offer. I do not know. It is up to their decision. We have not received any comments. Course, it is not finished ceo will testify on july 10, which is and adjust which is just in a few weeks from now, in front of the french lawmakers, in front of the same committee, and he will testify on alstom takeover. Thank you very much. Joining us from paris. Still with us for his perspective on global events, james bevan. Pboc saying they will start you onpound direct trading uanpound direct trading. We have had a lot of news surrounding various investments the chinese want to make in the u. K. London is hoping they will be able to craft a bigger role for itself. The Financial Services thinks it is up for grabs at the moment. A clear benefit to china in terms of having a convertible currency and the opportunity to be less dependent on credit within around domestic economy within their own domestic economy. They have a much better diversified business base. It is important for the british economy. We will not only get funding, but china is prepared to help with the infrastructure projects. Lets talk about some of the individual stocks. Zoopla listing this morning. This is a property search engine. Is it a Technology Business . Is an online operation. It has managed to get very significant footfall. Many have doubted that an website would gather interest from individual agents. Theyve been able to monetize the football. The footfall. Are you biting . Buying . You the oldthink some of Technology Companies are very interesting at these current valuations. Microsoft, i think the current valuation is fascinatingly well priced. Over in europe, it is an interesting sweet spot. You are the second fund manager in todays who was stopped me positively in two days who has talked to me positively about microsoft. The cloud business, is that an attraction for you . A proven capability to keep evolving the business model. It is not a Single Button being pressed. Siemensalstomge . Are you interested in this big battle . I am very nervous. What are the positive developments . It has been a reformist agenda in france and italy. We do need to see the french agenda being much more proshareholder and less constraining. James, thank you for joining us. London tech week continues with a look at the smart revolution. Of theake a tour connected home. You. Have another guest for [no audio] welcome back to on the move. Shares of Malaysian Air are poised for their highest growth in months. The stock is gained 23 over the past three games. The state Investment Company recently said the struggling carrier would be able to maintain its public testing. Bnp paribas is sticking with the plan to expand its American Bank last Division Bank west division. Potential 10 billion penalty from the u. S. Over its dealing with sanctioned countries. The eu will have to rely on antitrust and privacy rules to curb Google Search engine dominance. That is according to the german interior minister. The comments from response to critics who say the eu needs to take radical steps to curb the power of u. S. Internet companies. He spoke to bloomberg. Chinesee cannot unravel , american, indian, or south american companies. What kind of legal system would that be . Another company we are watching this morning is h m. A 25 jump in profit. Winning us is joining us is charles allen. What is behind the outperformance and the fact that they have Beat Estimates this morning . Cost control, sales were good, which we knew. Touch. Argins down just a they have a lot of operational leverage. Where will they get more growth . Broadly speaking, a lot of countries where they are still immature. They just opened a store in melbourne. Im sure they can go to quite a lot. And then you have online, eight to 10 markets will be open this year. H mne of the lessons about you reminded me of is the fact that theyve had a mailorder business for some time will stop that is what a mailorder business for some time. They said because they have been doing this catalog delivery for so long, that has helped them transition very quickly. The mailorder customer is different with different behavior. One sees a lot of the new internet only companies learning thatons that made older companys new 25 years ago. H m has this business in sweden. Enabled them it enabled them to understand. A lot of the merchandise comes back and how you can resell it profitably. The demographics might be different, but the return policy is something you have to deal with in both scenarios. What about north and south . At germany, the u. K. , and the u. K. Has really picked up. We knew u. K. Apparel sells were strong. Sales were strong. Spain we knew that u. K. Apparel sales were strong. Spain, it is not the 20 plus that they have got in the u. K. You have mentioned the expansion into australia, amazing they have been around in europe for so long, but they have not had a presence until recently in australia. The Southern Hemisphere has always been difficult because of the difference in the seasonality. Are you anticipating your next season or are you selling people castoffs . We saw this Australian Business cell Northern Hemisphere fashions. People in the Southern Hemisphere want to make sure there is something unique for them as well. Thank you very much for joining us. Still to come, it is a bird, it is a plane, it is a rocket on wheels. Years are attempting to engineers are attempting to break the speed records. A tour behindyou t the wheel. Here is a picture of the markets. A short break on on the move. We will be back on the other side. Welcome back. I am an edwards. I am an edwards. We are 30 minutes into the trading day. Here is a picture across the markets. I can see things looking pretty green. Lets dig a little deeper into the stocks that are on the move. Manus cranny is that the touchscreen at the touchscreen. This is a big beast of a stock. These guys run some of the biggest shipping lines in the world. This stock dropped by over five percent yesterday. Theent of 1400 equivalent over 1400 pounds a share. It would have been nice to get together and create the three shipping lines taking inventory. That will not happen. H m, profits up, margins squeezed. If you want to grow a business, you have to spend money. That is what h m is doing. The market likes the message. Zoopla is at the top of the market, just the beginning of a whole new wave. It is a property website and technology website. It is partly owned by daily mail. They are brave and theyre coming to market, to the ipo market, the lower end of the range. The bank of england releases minutes from it last policy meeting in one hours time. Economist are waiting to see whether there is any dissent among policymakers. Mark carney said a raised increase could come sooner than expected. The italian Prime Minister will meet with the European Council president in rome today. One topic will be italys austerities austerity measures. The imf says the economic recovery remains fragile. The government has made some very bold and ambitious agenda proposals. The key here is to implement them quickly and decisively to strengthen confidence. Oil exports on both northern and southern iraq are said to accelerate. Data shows exports from government controlled ports in the south will be 11 higher next month versus the yearly average. Officials in the north plan to double crude exports next month. For more on the outlook for oil, i am joined by our next guest. Lets talk about the outlook for oil. Give us your assessment of how much or how little the Oil Production is going to be impacted in iraq by what we are seeing on the ground. Absolutely. There is no doubting the belowground potential. The challenges are above the ground. These fault lines have been a place for some time. There are fears of sectarian influence. You have the kurds in the northeast. You have the insurgents to the west of that. And you have the shia controlled government in baghdad and the south. What does this mean for oil prices . We certainly have not seen an impact in the south were 90 of production were 90 of the production comes from. As long as we see the activity from the insurgents taking place away from the south, is that where we see the impact on oil contained . , when the insurgents did move we saw a kneejerk three dollarsfour dollars reaction. What was it driven by . It was a fear lead rally. A fearled rally. It needs to be monitored. The market will continue trading in the current range based on any headlines or movement. What we did see yesterday, a number of companies announcing they are scaling back their operations as the geopolitical situation evolves. Even if we do not see the insurgents getting as far as the south, the fact that international will businesses might pull out of iraq before that time. We could see an impact on supply. It does impact the longerterm. The rate at which the fields can be developed and iraqi production can grow will slow. It is important to monitor the headlines. What do we make of the fact that the kurds in the north have been able to gain control of the fourthlargest oilfield . What is the role of the kurds and the broader picture . In the broader picture . The kurds have seen this as an opportunity. Whether they want to increase their revenues from 17 to 25 or whether they have captured or continue to put more oil out to we areh port slightly more skeptical. All of will do is cause more interruptions in the international community. What does this mean for the regional stability . A lot more uncertainty. This is something the u. S. Does not want. Players in a market will be skeptical about taking these cargoes. Thank you very much for joining us. Perspective on oil prices. The violence has erupted quickly. The militants are heavily armed and wellequipped, where do their funds come from . Where did they find their funding . The militants call isil. Lves president obama calls and jihadist calls them jihadist s. It is a challenge to ascertain the the amounts involved. One report is saying the central bank lost 429 million. If true, this would put them in the militant major leagues alongside the afghan taliban. They already control oil and gas in neighboring parts of syria. Allowing them to profit from black market sales. Further funding is funneled to Syrian Rebels from wealthy donors and gulf states like kuwait. Finally, to make matters murkier, some rival rebel groups claim they received reimbursements from irani and Iranian Intelligence groups. Coming up, we are back to technology. Our london tech week continues with a look at the future of your home. That is coming up next. This is on the move. Factr houses, cars, in trees, we are surrounded by tiny in factories, we are surrounded by tiny intelligent devices. Caroline hyde joins us now from a connected apartment in london. Apartment a smart with more than free hundred individual items more than 300 individual items connected to the internet. What is the Growth Potential of the internet of things . Will we see 19 trillion of efficiency within the economy customer i am joined i the chairman of restoration partners, a company who helps invest in startups and businesses looking at the internet of things. Everybody gets excited about everything. The internet of things is the next big wave of moneymaking capability and technology. This is the next big wave. If i were capable of being excited in american way, then yes. What sort of businesses have you been analyzing . It becomes everything to everybody. Intent of things the internet of things is the time where everything will be a computer. You can identify items of clothing. I was at a jaguar engine plant yesterday. Every tool has an id tag and it is constantly monitored. Things is allf connected and we are going step by step by step. This apartment has loads of things that are computers. There is a need to understand the Geographic Information systems space. In a mappinging platform. We intend to move into mobile asset management. Railways and ambulances and police cars and so on. A fire engine turns up to somewhere. Everything becomes a computer. You will be able to identify things and their state. We could get excited about things because it is about the entire infrastructure of cities, not just about making your coffee quickly and your lighting. If you look at some of the statistics about the world as opposed to just london, it is a global phenomenon. A third of all food produced is wasted. From themade it processing point. You do not know where it is and what to do with it. If you are controlling a fleet of tracks filled with food from startral place, you can optimizing the distribution change. Plants arefacturing leading. Rememberenough to where you did not know or anything was. Computerized. Ll health care benefits, transport benefits. You can manage things like this flat from a central commercial Central Control point. Everything is connected. You have spent your entire i. T. Andife within technology. Aware rest of the world of the rate at which things are changing . Are we aware of this . In pockets, i think. If youre growing soybeans in remote india, it is irrelevant. But youre probably getting pricing information on the smartphone. When you walk out of the store and the beeper goes out goes off, it is a primitive example of the internet of things. When it hit a wave of wireless energy, it sent out information. We are aware, but not in the way of people sitting down and figuring out ways to make money from it. How long ago before we had never heard of an ipad . Five years. Easily within five years, though it roach the approach to things will happen. They will tell you the temperature, the humidity, and the location of the sensor. Technology is the there. It has been hyped for so long and that is why people get negative and critical about it. People are taking advantage of the fact that you can know where something is and what the state of it is. It has been fascinating talking to you. Chairman of restoration partners. Caroline hyde in a connected home. The pulse is coming up at the top of the hour. We are going to keep talking about the internet of things. We have an exclusive interview with the company that makes the microprocessors that powers all the magic that caroline has been talking about. If you want your garage door speaking to your phone, chances are they will have something to do with the design. Caroline will be speaking to him in about 25 minutes. We have the bank of england minutes coming out at 9 30 a. M. This morning. The key thing to look out for is whether or not the committee is still unanimous. A lot of attention will be paid to these minutes. Mark carney sounded a much more hawkish note. Finally, well be bringing the the latest on iraq. We will be looking at curtis dan kurdistan and curti to what extent they have the Spare Capacity to step up supply if violence spreads to the south. Connected than usual. Zoopla is trading higher than its ipo price. They reported record levels of traffic on its real estate website, up 37 from a year ago. Googles youtube will start blocking music videos from independent labels which have not agreed to be a part of a planned subscription service. Up next, buckle up because the car of the future may travel 12 miles in two minutes. U. K. Engineers are building a rocket on wheels to break the land speed record. That is coming up. Welcome back to on the move. This Time Next Year a team from the u. K. Will try to break the land speed record. The bloodhound is in the advanced stages of production. To break the land speed record, your car needs to be special. To break the 1000 mile per hour mark, it needs to be an apex of technology. This is the newly unveiled cockpit for the bloodhound, a jet on wheels to you and me. The comfort of the pilot, his cabin has to suit him. The Steering Wheel is 3d printed titanium. During a 1000 mile per hour run, but hound will cover 12 miles in two minutes. For the driver safety, everything have to be for the drivers safety, everything has to be perfect. Those instruments have been coated with a special nonreflective paint for optimum visibility. The walls are white for maximum brightness. The windscreen is thicker than a fighter jets. Engine and twoet rockets. They provide 21 times of thrust, the same as 180 formula one cars. The Bloodhound Team are aiming for 2016 launch. That works very speedy. I do not know if you fancy driving a car. Apparently, you have to be a fighter pilot. I think we need Driverless Cars before im allowed to go 1000 miles per hour. Lets talk about one of the big themes in the u. K. Right now. , whois the chinese premier was visiting the u. K. Right now. Pound is to start yuan direct trading. This is very important. Numbers, was about establishing a bilateral relationship. I it is about finance today, it is about finance. A great deal of Foreign Exchange trading is done. That is why it matters so much. An trades are done in the United Kingdom. We have a speech at 10 00. I was just clearing up guy johnson. Clearing up with guy johnson. I am in the roster at 10 00 to say what is going on. We will get to the speech with cameron and the peoples bank of china. To that end, there is a word i have been using, a symbiotic relationship. He wants to look towards the United Kingdom for technology. Cameron is one of those wily politicians. He talked about a freetrade agreement with china, but from within the eu. Jobs for britain within the eu within a freetrade agreement. Never miss a beat if you are a politician. Thank you very much. Stay with bloomberg television. Guy johnson and Olivia Sterns are up next. They will bring you the latest from the bank of england. Vu, ge gets set to make another offer for alstom as it aims to fend off siemens. Inside the bank of england, investors watch for more talk of rate rise. That is coming up in 30 minutes. Is the internet of things really a trillion dollar opportunity question mark our exclusive opportunity . Our exclusive interview with arm ceo. Welcome. You are watching the pulse