Im guy johnson. And im francine lacqua. Talks are ongoing between greece and the euro area today as the greek government looks to carve out a new bailout contract. Lets get straight to hans nichols in brussels. What is the most Important Development in the last 24 hours . Good morning, francine. They do have these technical conversations going on for a longterm program. They want to agree on all the numbers. Eu officials, technical advisors, and greek officials. They are going to have a political agreement. We dont have a political agreement yet. We have an agreement to go through the numbers and continue the negotiating process. They need the same data sets and that is why we need to have thats why it is important that you do have these numbers. Angela merkel is positive. She says that mr. Tsipras was someone that she could work with. We gave each other a friendly greeting. I congratulated him on his election win. I told him that from my side we want to work well together. We will tak
Welcome to the program. Following the funeral of the saudi king, the white house says president barack obama will be speaking with the new saudi king in the coming days. Its a sign of the strategic importance of saudi arabia, a key regional ally. The long reigning king died yesterday and was very today in an unmarked grave following friday prayers. King solomon king salman has promised fairness from the ruling dynastys thirdgeneration. The body of King Abdullah was brought into the main mosque in riyadh for a simple ceremony. Leaders from around the gulf joined in prayer. Even the regional rival iran is sending its foreign minister to a ceremony. He came to the throne at the age of 81, but he had already been to factor region for nearly 10 years before that, presiding over the holy city of neck as well as the economic might of one of the Worlds Largest oil producers. Saudi arabia is a powerful ally of the united states, supplying america with oil in return for u. S. Weapons. The u. S.
Chains are struggling, many customers are coming in for the meat. It is Market Makers here on Bloomberg Television. I am Erik Schatzker. Stephanie i am stephanie ruhle, and im glad we are starting today coming in with the meat. Coming in with the meat . Erik coming in for the meat. Stephanie you know what we need now, a bulletin. Erik abbvie has won the battle for pharmacyclics and will buy the company. It makes a blockbuster blood Cancer Treatment that cost 100,000 a year and has been approved for four blood cancer uses. Johnson johnson had been on the verge of buying pharmacyclics. The European Central bank is releasing details of its stimulus program. At a News Conference in cyprus, ecb president mario draghi says that the sovereign Bond Purchase Program will start next monday. Ecb will be buying 60 billion euros a month of assets through september. 16. This is all part of a plan to invert deflation in the euro zone. The ecb wants to get inflation back up near 2 . China has since se
You are watching the pulse in london. I am guy johnson. France being not here today. Francine not here today. Lets talk about the day after draghi. The president of the central bank outlined the timeline for his 1 trillion euro q. E. Program. The central bank will stop eyeing bonds on march 9. Buying bonds on march 9. Draghi at this point in time, we see absolutely no reason to think or plan or act in any different way from what we planned, namely purchasing of 60 billion euros a month of securities on till september 2016. Or beyond if needed. Guy mario draghi also announced that the ecb had extended emergency funding to greek banks by 500 million euros. And stood ready to resume by greek debt by july if greece repays bonds due by then. The political pressure from the euro Group Members shows no sign of easing. Yesterday i spoke to the maltese Prime Minister. He is insisted the country wont take a haircut on the first greek bailout. Prime minister of malta we are the biggest contributo
Hello. Welcome to countdown. I mark barton. Edwards. We have bloomberg reporter standing by ready to deliver your stories. Hong kong, watching for sony earnings to break. Those are just crossing into bloomberg. Hans nichols has the details. We are digging into the recall of more than 17,000 luxury cars. The scene for the right decision. And Caroline Hyde is looking at results from vodafone. She will focus on emerging markets. Is coming up, big interviews today on bloomberg, focused on earnings. We will be talking to the head of low, the the head of volvo. Also, the man in charge at time daimler and we will bring you the reactions of Credit Suisse. Reactions from switzerlands secondbiggest bank. We are joined on the phone from zurich by manas. It is a mess. The market was looking for a number just under 400. Behind the miss were provisions in two key areas. They have an Ongoing Investigation with the u. S. Tax authority. They have taken a revision of 175 million swiss francs. This is a