Am guy johnson. Io saying no the worlds secondbiggest iron ore exporter has rejected an approach from glencore that wouldve crated the worlds biggest miner. Jesse, you guys have been working on this and watching it very carefully. He is a deal maker. He have done it through inquisitive deals over the past 15 or 20 years. He has been here for 10 years. In this instance, the big issue will come down to price was the what we know about glencore is they never overpay for anything. To get rio, it looks like it will have to be hostile now and would be a chunky premium. Is it the last deal he will do at the glencore if he does this . A good question. We know he is an ambitious guy. It will crate the Worlds Largest mining company. Perhaps, he is an ambitious guy and a deal maker and is the last one he could do at glencore. As i look at the lay of the land, it could honestly change it significantly. You kind of wonder how the people fit into the story as well. Exactly. It would create an enormo
France Business Leaders get together to push a positive message of the economy ful. Quotes welcome to countdown everybody. 6 00 here in london. Speak to newsmakers from bmw would car world, cars as easy as a oneway bike trip. Is a big day for fiat. The king ofting spain. The European Central Bank Governor refrained from quantitative easing in the eurozone but pledged to reassess the situation early in the new year. With inflation at a fiveyear , will action come too late . Here is what he had to say. Maybe they will start doing qe, but it will be too little, too late. , i think this would be over two years. They also have the right fiscal policy because qe works in the u. S. And u. K. Because we have monetary stimulus and you have backloaded fiscal consolidation. , they call the slowdown, started doing fiscal tax increase. You need to have fiscal stimulus in the eurozone. This will not be enough, you have to have demand. This will come too little too late. Today is at dartmouth profess
Institutional bonds, everything up for grabs driving optimism. Driving that hunger for risk. That is how stocks are opening higher. We got better and is china. The purchasing Managers Index in terms of manufacturing, not falling as much. It was all about the ecb yesterday. That is what happens to the euro. 1. 113 at the moment versus the dollar. Down almost 2 . So big moves when it comes to currency. Thanks for marriott draghi. Big moves in oil. Sad news on the back of the death of the king of saudi arabia. He lived to a grand old age. How it is trading on the day. Up pops up 2 . Questions about whether his brother will continue with his predecessors policies. Also, will they keep their oil minister . Big questions but oil markets are getting a boost on the back of the saudi arabias king abdullas passing. This is about ecb returning. Borrowing costs driving down. Italy down. 1. 46 italy is looking to borrow on the 10year. Spain able to access the market at 1. 3 . Germany still less tha
Action. It is encouraging. It shows that the program is credible but its obviously too early to tell. And what mattered for us was inflation. Saudi Arabias King Abdullah dies at age 90 following weeks of hospitalization for pneumonia. Hes immediately replaced by his brother sending oil shares higher. Telefonica is in talks with hutchison for 15 billion. Telefonica confirms its in talk with hutchison to sell its business for more than 15 billion and its payday for lloyd blankfein. He will join the crew on squawk box later this morning. You wont want to miss it. Manufacturing and purchasing managing index for major European Countries have been coming out today. We heard from germany. January pmi falling below 51. 7. Composite pui 52. 2. They cut it at the fastest rate in years. Not as bright as initially expected. The euro zone economy began in better shape than expected but firms were forced to slash prices. Thats a day after they announced the massive Bond Buying Program. The euro is d
The capital. Our correspondent has the story. French police are deploying. The french army is answering the president felt the president s call. We decided to mobilize 10,000 men to protect locations across the country. They will be deployed by tuesday evening. Still shaken by fridays attack on the kosher supermarket, Jewish Community leaders called on the government to take major steps to ensure security. That call has now been answered. During a visit to a jewish school, the interior minister said that they would be responsible for coordinating the security of the Jewish Community. They will be in charge of protecting more than 700 jewish schools and synagogues across the country. We must protect any facilities that could be attacked, jewish schools, and also mosques. We have not talked about it, but there have been several acts aimed at mosques. All official buildings and meeting at headquarters will be heavily guarded. The mood of unity we have witnessed in france is beginning to f