At central banks. There is that allimportant g7 meeting where we talk about currency wars. We just found out in the last couple minutes that according to egypt state tv the Egyptian Military saying it has found part of the wreckage. Tom these two headlines are coming up across the bloomberg. What i find fascinating is the different treatment in waiting thehis plane crash and speculation about terrorism within the london newspapers and the new york papers. It is amazing how this tragic event translates differently across the atlantic. Francine that is something we will have to explore further. In the meantime, lets get straight to bloomberg first word news. Vonnie breaking news on the missing egyptian airliner. According to reports from egypts broadcaster, the military has found wreckage from the plane off the coastal city of alexandria. 66 people carrying vanished while flying from paris to cairo. Thereiation minister says is a chance that terrorism knocked the plane out of the sky. La
London headquarters. I am francine lacqua. Decision not to hike Interest Rates last thursday. Morning that the euro may fall. Lets get some Quick Reaction from andrew parry, he is head of equities. He manages 29 billion pounds in assets. Thank you for joining us. Andrew, your first quick thoughts. We disappointed that the fed did not take that window to hike rates . Andrew you can see in the markets reaction that everybody disappointed, even though it was expecting them to raise rates. How the markets reacted was a clear statement. That was the frustration. Is the message that they are sending in the dumbest comment. Is it the conditions that are worrying . Francine are you worried about china . A focus on m a for example. Andrew we try to focus on the bottom up. Statement,ays a economic start to admit as statistic. Statistic. A broad direction of travel is important. Thats what the market is reacting to with the fed. Did they leave us hanging . Thats been a long period we have been an
Im caroline hyde. Lets kick off with china. The shanghai composite closed down 5. 5 today, as sliding industrial profits and widening investigations into chinas brokerages fueled concerns over the world second biggest economy. Lets get straight to our beijing euro chief, nick wadhams. Fergus the focus . i think the data figure is fairly minor. The big thing is these probes. There are many ways to read this. One is that they are looking possibly at insider trading. All we are hearing his they are looking at rule violations, which can mean a great many things. The government is looking for someone to blame after the market rout in june and they are going full force. They had thought that the Market Recovery in the last couple months, they thought there was enough strength that they could launch these probes without hitting the market. The market has shown otherwise. Andemains extremely jittery reversed course is sharply once those probes came to light. Caroline just having that breaking
And, Credit Suisse beats analyst estimates. We will be speaking to the lenders chief executive in zurich. Hello. Welcome to countdown. A warm welcome to the program this morning. It is a big day for bank earnings. Credit suisse just reported earnings for its Fourth Quarter in 2014. It is proposing a dividend and investors can choose whether to receive it in shares or cash. The banks net income beat analyst estimates at 921 million swiss francs against an estimate of 869 million for the Fourth Quarter. Be sure to stay tuned. We will be hearing from brady dougan on those numbers. Thats coming up just about an hour from now. Another Bank Reporting earnings. Societe generale is reporting fourthquarter earnings for last year. It is frances number two. Profits missed estimates. Revenue in its core consumer markets falling while its capital buffer shrank as well. You income rising to 511 Million Euros from 191 Million Euros a year earlier. Net income has increased but it has missed the 505 to
We are going to start in athens. Eurogroup president jerome is set to meet greeces new government for the first time later today. It is a story that everybody is watching. We are trying to work out whether there is a mandate. We will talk about that in just a moment. Lets talk about sanctions on russia. This is also part and parcel of the greek story at the moment. Increasing violence in eastern ukraine. We are watching the story very carefully. There is talk of more individual stories here potentially more visa bans. Ryan chilcote is on the ground in brussels. What have you been hearing from the Foreign Ministers . Effectively, what theyve done is kick the can up to their bosses. February 12, the heads of state gather here in brussels. What the Foreign Ministers did last night was agreed to expand the black list of individuals subject to travel bans and asset freezes and also extend some sanctions that were imposed right after crimea was annexed. Those are sanctions light. One to 10,