I am guy johnson. Francine is not here today. She is at the bloomberg summit. She will be back soon. Our top story. Lets talk about tesco. Bleak news again. It was not top 114 billion pounds and shares will be down as much as 14 . Charles, 100 days. Big ofthis come as a surprise they significantly reviewing . He said he was going to review it and we knew it in october. It was a degree to which it is him giving the guidance and that he did not give at the end of the told her. The key point is the commercial policy which we knew tesco had they buyhigh how from supplies and cello. The way they were buying was also in a mess. Is he big question is going to get us back to where we a newfore our are we in normal where the company will be at a lower level . Unlikely that is the Trayvon Martin and that tesco had for many years that years and we many will get more guidance in january. What is done in the short term is say, all of the back margin deals going on and they came in a number of ways
It was forecasted to say the same as februarys read but instead we have a read of 101. 3. This is a little bit of a change given the latest chicago pmi number we got 15 minutes ago that it was a disappointing read in which manufacturing did not expand. They contracted once again. Last week, the university of michigan conference Confidence Index came in higher than anticipated. You wonder whether the slumping Consumer Spending is temporary or if it is indicative of just deeper problems for u. S. Households. This number would seem to suggest it is temporary. What consumers say and how they describe their feelings is different from what they actually do when it comes down to it. Olivia thank you scarlet fu. Matt i want to give you the bulletin top business stories of the morning. Home prices are rising faster than expected according to one. Of the index of Property Values in 20 cities rose 4. 6 in the year that ended in january. The report warns that home prices are going up twice as fast
In the premarket, its down by about 37 cents. Andrew, over to you. Thank you, becky. Were going to break down apples big show and tell. Two new iphones, the much anticipated apple watch and payment systems. U2 teams up with tim cook. On this day after, is this big reveal getting rafs or being ravished . Here to give us their take, jonathan geller, founder and editor and chief of boy genius report. So if youve been living earn a rock, tell us, what ill go to you, mr. Boy genius first. A big take away. Great, horrible, in the middle, thumbs up, thumbs down, what . I think its a lot of what we expected, but i think it was three incredible announcements and two brand new areas that apple is im sorry, three incredible announcements being the larger phones . 4. 7 inch, 5. 5 inch, a watch and payment. And of all three, which one impressed you, which didnt . The payments to me i think is the most important. I think its an area that people generally havent thought too much about disrupting and
Feel that the former capital is still their capital and thousands of women and girls were also captured by the Islamic State in slave by bam what is being done to find them and free them i would say petty little its not like official missions go out and try to search for them there is a missing people its office but mainly you know it lies with a family Stay Contect Smugness smugglers who know the routes between iraq and syria which is right next door through sin jar runs the main Connection Line between mosul iraq for example to form my is from holds so they try to use the established Smuggling Networks to try you know and find their loved ones who are still like cattle over the border from one jihadi group to another from your reporting what is your sense of how they use it to feel about their sense of home does that still exist for them for some yes because they frankly tell you we only know this one
home so we try to make it work for most of them know those that we spoke to they al