Mark welcome to countdown. Im mark barton. Manus and im manus cranny. Mark Floyd Mayweather and Manny Pacquiao the fight is excited to be the most lucrative in boxing history. With estimates of 400 million in revenue. Manny i love being the underdog. I have the determination to fight. I have something to prove in the fight. I love it. Mark a chinese manufacturing gauge is showing that growth may be starting to stabilize in the worlds secondbiggest economy. Slightly higher than expected in april, according to our economists here at bloomberg. The pickup in manufacturing data comes after the government spurred Infrastructure Investment. Sticking with asia, japans key inflation gauge shows a small gain in march. After approaching zero in february. The data comes after the boj back the time needed to reach the 2 inflation target. The governor said the delay is attributed to falling oil prices. The continents are cloned for the mayday holiday. Stay with bloomberg, we will be live with the tesla headquarters in los angeles, as the Company Unveils batteries for home and company. It could position them in a market worth billions of dollars. Time for some mega information, the company is approaching a takeover. Manus i have, indeed. This is grading a beast within the corn and seed market around the world. Just for context monsanto already has 30 of the market. It has 34 of the United States corn market. You are looking at a Company Worth 80 billion. A market share of 40 , that is if a deal is offered by the regulators. What we think could come, a year ago the informal discussions were being had with syngenta. One year on, the value is down. Could it be that monsanto wants to do it . A lower rate for corporate taxes it would be lower than it would have an United States. Another couple of issues to consider would be this the antitrust hurdles. The magnitude of market share that the combined group would have in the United States of america, along with its global division, would mean we need to talk to the buyer about making divestments. That would be some significant hurdles. Another issue coming from Bloomberg Intelligence monsanto issued quite a lot of debt last year. A lot of that debt was from a Share Buyback program. They have a room in their company that says they have to be careful about the amount of debt that we issue to our equity. That would mean that for monsanto to do a deal with would be a billiondollar deal. Monsanto would have to issue 27 billion worth of equity. When it comes to antitrust, just to give you flavor monsanto is no stranger to this. The department of justice investigated, they have all been dropped. To that end, do you take them base to go up again . Would dow chemical be allowed . That is the question it is a 10 billion cheaper trade if they go for this deal. Could it be a tax inversion . We wait to see a little bit more clarity around the deal as the day goes on. We get lots of analyst comment, whether it is good or bad. Mark with a week to go into the u. K. Election the parties came together for a televised event. And wereed miliband said he would rather lose them do a deal with the scottish party. Ed miliband we are not going to have a coalition, not going to have a deal. Let me say this to you. If it meant we werent going to be in government, not doing a coalition, then so be it. Im not going to sacrifice the future of our country, the unity of our country i am not going to give in to demands regarding the deficit or anything like that. I want to repeat this to you. Im not going to have a labor government to be deals to the Scottish National party. Mark nick clegg said he would not oppose a referendum for mentorship in the european union. Nick clegg we should have a referendum on whether we should stay in or leave the union. I will, by the way always argue that we remain part of the eu. Mark asked about plans for spending Prime MinisterDavid Cameron said he would not raise taxes. Prime minister David Cameron i know what needs to be done. And i know we can finish the job without putting up peoples taxes. Those people who have opposed every step, every cut they will make a cut of their own. Which is to put our taxes back in your pocket. If you want a government that finds more efficiency in Government Spending that reforms welfare, and doesnt put up taxes for working people that is me. If you want a government that goes on with unreformed welfare, and puts up taxes that is the other one. Mark we will bring you the Green Party Leader natalie, later. Manus linkedin sold as much as 20 after the revenue was not met. The networking site also felt that other missed projections. It is the third time that linkedin has fallen short of expectations. Shaking confidence in an historically stable stock. A criminal complaint over reports for the German Secret Services. Did they help in spy . They demanded information on the German Intelligence Agency am a they were part of a gathering information regarding air buses and helicopters. More than quadrupled to 2. 7 billion, trying to shake off its reputation. The sony cfo said quote a a considerable risk with fluctuations. Join us on twitter, we are up early and of late. We live in the fast lane here. It is markbartontv and manuscranny. Mark coming up, the greek Prime Minister tells his party of the deal that you might be softening to their demands . Coming up, after the break. Mark the greek Prime Minister told his cabinet that a deal for the bailout is not within the economic reforms. Cyprus has stepped up talked to reach a preliminary deal ahead of sunday, ahead of a deadline later this month. Here to discuss that is bloombergs senior economist, christine scholz. We have had so many in recent months, the latest luminary deadline ahead of the finance ministerss meeting. Should we shrug our shoulders and hope for the best . We should focus on the content of these discussions, what is needed. And then a secondary step, one thing from the history of the crisis that we know is, all of these deadlines kinship. They will make the decision one way or another. I think the deadline part is more focused on where do they actually stand in terms of negotiations . How close are they . In my opinion, they are still miles apart on pretty much everything except the fiscal part. Where the greeks are saying they want some primary surplus. There are structures for labor reforms deregulation of various sectors of the economy, all of these things that we are nowhere near a deal at all. Manus with that level of granular detail that the imf referred to, is that achievable by sunday . Shculchulz no. Before they get money from the eurozone, if they fill the projections we need actual laws voted by the greek parliament. Voted by the independent greeks, which tackle very difficult topics for a populist coalition. Such as no raise in the minimum wage, no tightening of collective bargaining roles such as. Mark there are red lines in the sand. Pensions, as it sale to name butset sales just to name two. Are we headed toward something the greek people do not want . I think the referendum on new election is a corollary one. The primary question is what does he actually want . Does he want to take them out of the euro to implement election promises . Or does he want to keep greece in the euro at any cost, if it means having a deal with the eurozone that crosses all of his red lines . Is he prepared to fight that through in parliament . Manus it would be a social kick back against him. The populist greeks do not want to leave the euro. They can whiplash politically, this could be building up to a big social backlash against the man, should he trip out of the euro. Or am i being negative . People show very consistently, the greeks do not want to leave. That is why he is saying, ultimately, the referendum is not to convince people of some deal or not, it is to convince his own parliament that what ever is agreed is what the greek populists should fight for in parliament. Mark meanwhile, something extraordinary might happen when it comes to economic growth. As we know, United States gdp on an annual basis is. 2 . U. K. Is. 3 is it. 4 . That is quite symbolic, isnt it . Yes, for the First Time Since 2011, we do have a chance now that the eurozone could grow for a quarter more than his rivals. In belgium and in austria, those taken together were at. 6 . Countries like italy and france are not going to be at that level. But overall, it looks pretty good that the eurozone will be there. This is just one quarter. The United States and the United Kingdom are going to bounce back. Europe is going to have a good year. Overall, the other two are going to mark the euro has had his biggest monthly rally in two years. Were a twomonth high. The euro is lifting itself up, and to an extent, that is what boosted growth. And oil is up by 25 , the euro is following along. The Growth Prediction might not hold. We are below the forecast. There is some room for disappointment. To still be right, the u. K. Euro is one of the drivers. But there are others cheap oil. And maybe the stronger euro reinforces that cheap oil argument. We have these aggressive stances which beyond all of these things reinforces that any fallout from greece we need to keep that in mind. Russia is not a big risk. And we have seen reforms, not just in the countries of spain and portugal the ones we talk about all the time. Just this week, we had a positive vote there. There is a structure of progress. Mark we are going to ask you about the big figure of the week 160 billion. That is the amount of value between the regions bond market. What do you have to say about that . The senior economist . Manus welcome back we have Christian SchulzChristian Schulz here. Burns if youre looking for a big moving market, we have ratcheted from. 1 to near. 356 6 . What do you make of this move . Or the evaluation of risk . Christian schulz alternately, if qe works and we have seen in the u. S. And the u. K. It raises growth expectations in the future. And there is a consequence longterm yields and the currency will rise, not fall. If qe is successful. Japan is not happening. There is a sign that it is not working properly. It shows a bullish sign. Investors are taking the idea that europe is successful in getting that growth. With these strategies paying off, and therefore yields are higher. I think that kind of caps the other side, for others. One of the other sides, people are wearin whether theyorrying if they fall below the deposit rate that is good news for them. Mark we are less than a week away from the u. K. Election. The question many are asking, is the u. K. Going to leave the eu . And you are saying quite categorically no. But a referendum could well take place with conservatives with some sort of majority. Christian schulz indeed. Last Nights Television debate the q a showed that the most likely Coalition Party for the tories is not categorically for a referendum. It is a possibility at some stage. It will not be the referendum on the terms where it is an immediate outcome. But it will be a referendum after negotiations, potentially after some reforms but probably after some much better recovery in the euro zone. Which should boost the popularity of the eu. British people do not want to leave the eu anyway. Which makes it likely that whatever the referendum is, the most Important News is conservatives are likely to win the coalition to govern. There might be a referendum, and that is good news. Manus i have gone through my mind over the last few days how could the bank of england say we have this new coalition as you suggested. That would be a very bullish scenario. Could the bank of england raise rates in a less politically stable environment, then the shape you paint at the moment . The polls are 100 against the scenario you just painted. Christian schulz any bank has to live with the jurisdiction that lives with be it economics or politics. It has targets, which keeps inflation at 2 . The various governments that are potentially available for the Election Outcomes there is a leftwing government one of the outcomes might be more debt higher inflation expectations. And that may mean the rate of england may have to raise rate the bank of england may have to raise rates earlier. That would give them more time. The bank of england would have to take whatever comes from westminster. Make up its mind. Manus mark and i are just being mutually optimistic. Thank you so much for being with us this morning. Mark coming up, we go to San Francisco for teslas latest product launch. Minutes welcome back to countdown. The dollar is rising, would ever get back to above 1. 20 . 2 10 of 1 is the target, the target is 2 . We know that they are procrastinating making the market worry that the bank of japan is going to deactivate. And that may slow the trajectory of arising dollar and a declining yen. Core inflation came in, we know that the governor has delayed the 2 target of inflation. And the big concern is that healing will take longer to come in. In the fourth quarter, they have a new target they are calling dollar yen at 1. 25. That is down from 128 that shades their overall view from that. Keep an eye on the euro declining, the dollar rising. Keep an i on the dollar, it is flat lining as far as asia is concerned. Bond markets have had the biggest year since 1993 142 billion euros have been wiped off the Government Bond market. Still, the euro manages to get itself right up there in terms of the week. What a stellar performance, up over 3 . That is the best performance in four years. Bond yields are rising, they are declining that is a favorite bloomberg word. Prices are declining, yields are rising, greeks are saying they may have a deal april and mary deal by sunday. And money may have a deal by sunday. Where are those callers for . 90 . 87 . 85 . Mark the top stories on bloomberg at this hour, slightly higher than expected, according to economists. Bloomberg. The expansion of the chinese economy suggest that the country may be starting to stabilize after monetary policies were eased. The boj key inflation gauge touched zero in february rising 2. 2 in march. From a year earlier. In 2015 they kicked off with over 20 million visitors w hich benefits the whole country. Malan and italyilan and italy have hidden jewels. Should the tourists arrive since we have already sold 10 million tickets, it is clear that those tourists will not come to justmilan that will spread all over the country which will surely help italy to overcome this difficult moment. Mark elon musk is broadening the country to include the missing link. Bloombergs dana howell is live in los angeles. Powered entirely by these batteries, why get intonvolved with batteries . Dana this is the battery they use in their electric cars. They are moving beyond cars to batteries for the home and businesses and the utility grid. Mark how much is it going to cost us to buy one of these batteries . If you want the home one . Dana the real vision is that you will have solar panels on your roof, and a tesla battery in your garage. It is a wall connected unit, it comes in different colors to match the car. A small one is about 3500. Mark the battery is a little bigger for utilities. Give us an idea of the scale. Dana there is not just one battery, their proposition is you can stack as many as you need. Utilities like edison and pacific gas and electric that want to have pilot projects can basically order as many as they need. Tesla can package them in a skid depending on the utilities needed. It is a variable solution depending on the customers need. Mark is there a demand, all are their customre customers already . Dana the sun does not shine all the time, it is not always windy. We have incredible Renewable Energy resources. Tesla is coming in and adding a big consumerfacing Brand Technology that is righpe for expansion. Theyre looking to the challenge of Renewable Resources into the grid. Mark what did you ask elon today, dana . Dana i asked him two. I asked if he was bidding on the battery suppliers for pilot projects in utilities directly. I also asked if there was a chance that tesla would drop motors from the name. He did not totally answer that question, but he did reveal that they have registered tesla energy. Com. Manus japans key inflation gauge showed a small increase. For more, lets get back to james in tokyo. I suppose, 2 10 of 1 we should be grateful . James is definitely an improvement from last month, when it was zero. This is now two degrees and a bit since the governor came out and said, in two years time japan will have zero inflation. Now, it is basically 1 10 of that. It is an improvement since last month. It is not where the bank wanted to be or where the government wanted to be. Yesterday he said the main reason why inflation is not where it should be is because of falling oil prices. That is something that the bank could not have predicted, it could not have been avoided. At the same time it makes it very difficult for them to say that their policy is being successful. The statistics reporting the other way. Manus where exactly does he see inflation . He delayed the target, ive been reading a lot of various comments this morning, the big risk is that they become reactive rather than proactive. When you make of that statement james question . James two years would have been last month. They changed that slightly to say it is going to happen sometime in the fiscal year. And now they have said that it is going to happen sometime in the First Six Months from april. They have gradually pushed back the target. At the sa