Ukraines finance minister says the wartorn country needs for more Financial Support. Draghi versus the data. The release of pmi figures. Caroline the german chancellor Angela Merkel tells tsipras to stay the course. But our words and encouragement enough . Life to berlin. Live to berlin. Ryan welcome to countdown. We go live with the regulatory burdens. What does it mean for the banks . Chinese economy is showing further signs of a slowdown with manufacturing discipline falling to and from 11 month low. That has sent chinese stocks tumbling. Shery ahn joins us with the latest from hong kong. Shery the reading came in as a bit of a surprise because economists had expected it to become a above 50, showing a slight expansion in Manufacturing Activity but instead it came in at 49. 2. That is down from february. The index is weighted more heavily toward Smaller Companies. Analysts say if the official pmi data which falls on Larger Company slides that will reinforce the view that further pol
That they can bring inflation to their target and also start to infuse growth back into europe. Meanwhile, tensions erupting once again in greece. Good we see the antiausterity government setting themselves a referendum . Only been in power since january. The latest proposals they sent through to the eurogroup doesnt cut the mustard. Meanwhile, the United States still reeling from the very strong jobs data we got on friday. That sent shares lower because it means we are likely to start seeing rate hikes begin. 60 chance now for them to start in september up from 50 on thursday. Equities opening lower across the board in europe. Borrowing costs are coming down for the likes of germany, currently at 0. 38 on the 10year. There is some concern being shown. Borrowing costs rising for greece. Once again concern that there is disagreement between the new government and the eurogroup. Lets look at how the euro is reacting. Coming off those lows. Interesting moves in oil, which are coming a lit
Im guy johnson. Francine lacqua is off today. We begin with the mega oil deal. Shell has agreed to buy bg group for around 47 billion pounds around 70 billion in cash and stocks. That makes it the biggest deal in the oil and gas industry for at least a decade. Caroline hyde joins us at the touchscreen. Caroline a cool 47 billion pounds. A cool 50 premium on bgs share price. This is record data in terms of size of move, but if you go back, it is only since july 2014 when we last saw this price on bg group. That was the amount that the oil prices plummeted dragging down the price of oil stocks. Suddenly, everything looks a little bit fairer valued. That is what has capitalized this deal to spark the Biggest Energy deal in a decade. Suddenly, assets look well priced. Creating the secondBiggest Energy company in the world this would be the biggest player in the ftse 100. It will have sheer size and scale. Interestingly, shell saying, we will build a company with three pillars. They are goi
Guy the plan may be considered if the greek government fails to convince its creditors that it can secure more funds. A former ecb president spoke to bloomberg. Nobody is optimistic, frankly speaking, on greece. We have to be totally realistic and it all depends on maturing of the position of the government understanding that in any case if it wants to deliver growth and jobs, which is the main goal of that government, it has to produce Recovery Program that inspires confidence to the international community. Guy Jean Claude Trichet speaking in singapore. Francine seems pretty candid. For more, we are joined by one of our reporters. Standard chartered banks chief economist. How do you interpret what the our bloomberg scoop about the ecb . You have to present some reforms and you have to do this as soon as possible. The may 11 europe meeting may be the last date this is acceptable so that greece can present a full list of reforms that bode well with what they want to see. I think they a
I will go to municipalities for the money. Saying i need your cash desperately, i will go to municipalities for the money. Where hearing about potential rate rises this year. Bill dudley, head of the new york federal reserve, he is optimistic. He said it a rate rises needed this year. Stimulus a plenty. We are seeing a reduction on the u. S. The dollar is up almost zero. 5 . Euro weakness. Down goes the euro. Will we see a reduction . We are seeing weaker currencies first of the dollar. Aussie dollar trading lower. The centralbank comments saying cuts could remain. Centralbank divergence. Thats what were seeing. The equity markets lets check in on how steps are performed. Credit suisses of 0. 3 . Brady dougan was manus crannys last interview. His last set of earnings. He went out on a high. Trading approved especially in the bond market a fixed income. We are starting to see improvement. They are cutting their cost cutting targets. After regulatory charges so a bit of holding off in th