Im on edwards. Mention this and i headlines, china has made an offer. Per share, that is in cash flow to that compares to a monsanto offer previously which not all ins francs cash. Not always comparing apples to apples. Remain a Global Company centered in switzerland. Thepany could management will stay in place. Perhaps the company will be delisted. We will wait for confirmation on that. Theyre saying that the existing management will continue to run the company. Were getting numbers out of them in terms of how they perform. 13. 4 billion against an estimate of 13. 5 billion. A 2. 7 7r coming in billion. A little bit above estimate on that. They are also saying the fullyear diluted is coming in at 17. 7. They enter into agreement on february the second. Theyre saying this morning at the syngenta offer is equivalent previously, the offer had been at 4070 for the month. That wasnt all in cash. This testing to be more cash. Getting confirmation this morning that china makes a cash offer to buy syngenta. This makes it the biggest chinese takeover we have seen so far. We have seen the chinese equivalent overseas in recent years. Of course, in various appliances and entertainment. Lets break off from this conversation and taco little bit about the oil price. That has been moving asian equities around. lets show you this is what is been happening at the u. S. Shale boom. We have the wti forecast according to analyst for the expect that to be in the Fourth Quarter. Coming through the red line, that is the new news i want to show you this morning. A survey shows the community saying they expect to see to the ti prices at 46 a barrel in the Fourth Quarter. That would be an increase by the end of 26 2016. If youre looking for some to support, perhaps you can rely on that forecast to do that. That wont help you in the overnight process, at the very top left, wt i had 29. 73 right now. That u. S. Benchmark losing a little bit more ground overnight. But each digest already this morning. Lets get the bloomberg first. Crude is trading below 30 a barrel again after a fresh selloff on asian stock markets. Plunged, thees most in two weeks with some of the losses in hong kong. Oil saw its biggest twoday drop it over seven years. ,rude stockpiles increased exacerbating a global issue. Analysts are suggesting low prices will climb by 50 by the end of the year. They could reach 40 60 is a barrel during that. 46 a barrel during that. The bank of japan says it will look into the a report that does the board was discussing a negative Interest Rate policy. That is just minutes before the surprise market announcement. On the governor and his colleagues were in the closing stages of a policy meeting. The first lowkey transmitted case of the zika virus has been confirmed in dallas county. That came a day after the outbreak and its potential association with birth defects was declared a Global PublicHealth Emergency by the world health organization. A patient became infected after having sexual contact with the sick person would returned from a country with the virus was prevalent. Meanwhile, it is forced a new cars name. Ng a they said the new name will be announced in a few weeks. Zuckerberg be in the fourth richest person is facebook shares fended off plunging stock market. Deal founder of the largest ocean our cap a 50 billion fortune by the close of regulation. That vaulted him above jeff bezos on the bloomberg billionaires index. Anna secular much, lets get uptodate with the asian equity section. David inglis is standing. Is happening with oil, not a pretty picture. It seems that equity market not taking the positively. Absolutely, it is a very bad day. One of the terry bad days to be an equity investor. North of thread billion in market cap and the northeast. We heard from the governor about selloff three hours back. Driving its point, they remain committed. The Current Conditions dont they are open to being creative. Below zero further are a possibility, and really driving his point. Yields are continuing to come down in japan. We cant imagine how low these guys could get. They are continuing to find new floors. Across a lot of these different maturities, we get lower and lower. 13, of what happened to the eighth year on the yield curve in japan. Is actually below zero. Let me point out of this have a look at the nikkei, the worst market in asia are hong kong and japan. You have two measures of volatility here. 20 today. Up that would be the biggest jump going although it back to the chaos in the summer. Have a look at what is happening on the hong kong, a similar of about 16 . An overview of the equity markets, all right. A singleong kong, not spot it up on the hang seng. Single one is up. Again, quite a bad day. At the moment, we are at session lows. Thank you very much. Joining us there from hong kong. Lets get further analysis on that syngenta story. Offered toecting and come through along with the results for stubbing up an offer from china. It looks to be worth a little bit more. It is an all cash offer. That was what the last offer was, and even higher than the previous one at 400 49. Also, be jim he offer last year from on center which came in at 470. We can see why this is going ahead in terms of the numbers. What were talking about is a than 43h more billion. That is the biggest ever acquisition by a chinese company. What the company has to get out syngenta gets more access to emerging markets and of course it is come under pressure after the merger. But can china, this is not just about the company this is also but the Chinese National interest. Into boosting agricultural output and acquiring Foreign Companies in order to do that. With any dealhere is over whether there would be any antitrust opposition. Interestingly, that doesnt look so likely. Simple because syngenta combining with the existing agrochemical business would still only result in a 19 market share. Perhaps not so many disposals needed for syngenta. In many ways, this deal was more favorable for syngenta and the one with monsanto. He mentioned antitrust concerns, other concerns the regulators might want to get involved with they are talking about things getting into the food chain. U. S. Authorities might want to look into things like that. Constitute critical parts of u. S. Infrastructure. That adds another level. Nejra absolutely. This will end up on the desk of Foreign Investors most likely in the u. S. Why . Any authorities look at is deal that could pose a threat to national security. Of course, were talking here about the food chain. Also, it is about syngenta having operations in the u. S. Business unitso in the u. S. Also, with some of these deals, it is about whether any of these businesses are near any military or sensitive site the u. S. As far as we are aware, suggested does have a unit around 80 miles from a site in louisiana. The could be questioned over that as well. Other than as a blocking the deal, it is hard to say. Certainly, that could be a stumbling block. Anna interesting what will happen there. Thank you very much. Lets talk about a Swiss Company making headlines. Estimates, and crucially planning a share buyback. That is up to one billion swiss francs. Interestingly, they saw positive growth compared to the Previous Year especially in mainland china. If youre looking for positives out of the china story right now. Lets get more the oil story this morning. Crude is trading at 30 a barrel. Ryan, good morning, what are we expecting . That was the biggest fall in seven years . Extraordinary, and 11 drop monday and tuesday. The concern is that the supply glut only continues. We will see, but the forecast is that inventories in the United States are set to rise. Data for, that is based on a forecast we got from api yesterday. Also, a Bloomberg Survey we did the day before that. People now are beyond that conversation about whether the russians will team up with opec and cut supply. Everybody has now dismissed that and are returning to the picture we looked at before. Anna interesting. Oil is the trait of the year. This picks up nicely to what analysts are saying about the rest of the year. Ryan it is time to buy that storage tank and Start Storing your petrol in the backyard. [laughter] i was thinking about it. A dozen than they have analyst that we spoke with estimated that the price of crude blew from 32 a barrel only are right to 48 a barrel by the Fourth Quarter. That would be healthy 50 rise. If you look, from the First Quarter to the Third Quarter they see it steadily rising. Its sort of, last week i think we were heckling glencore saying maybe they were too quick and those. Something andw this is a good time to get into storing oil. It is almost as if Goldman Sachs and the others were channeling bob dudley yesterday. We talk about how he sees the ves, in the hal second half he sees a u. S. Shale production coming off. , the energy the eia statistics u. S. Government, they see u. S. Crude production falling by about 620,000 barrels. You can see that just starting to taper off. I like the graph you have here. That is inventories versus the wti price. It is just continuing to climb here. There it is, what to expect . A drop include production, that we would see the inventories coming down. If that the graph is correct, we see that inverse relationship and in you, you can see the oil price rise. Anna we will see some less london petroleum. Just had some earnings out. A loss on the net income. They continue to witness extreme volatility. We would get their thoughts. A later. Your dat there, thenvices justdata and the pmi filling in the gaps. Mortgage applications and employment. Up next we keep that with theion going conversation just after a short break on countdown. Cou welcome back, this is ntdown. Those came out of the top of the hour. Joining us now is the ceo of the business. Great to have you on the program. Lets stop a talking about your comments this morning that you made with your earnings release. You continue to witness extreme volatility in oil prices. What is your call for the rest of the year . We talk about how analyst see something in the mid 40s for oil for wti by the Fourth Quarter. What is your expectation . Morning, iine good think as i said previously, for the first half of 16 a think we will continue see volatility in the market until the oil side in supplyside will settle. The second half we will see some improvement. Will seehe impact we on the investment in the industry. Also said the battle for market share is approaching its final conclusion. Is that a comment on the sound is versus the shale drillers . Alexandre i think that is exactly what you just said, theres been a battle for market share. I think we have seen dramatic reduction on the number of rigs in the u. S. Weve seen a rejection reduction in bavaria. The off shale industry is 30 of total production is going to massive production and cost. We will see venture the impact of that on their investment. Anna you expect supply and demand to come into balance. It sounds as if that time is not very far off. Bp yesterday and he was talking about the second half of this year when things should be more endowment balance. Would you agree with that timeframe . Alexandre it is always difficult to predict, i would agree that there will be a supply balance and it will change. We will see the opposite eventually because of this investment in our industry. Timing wise, it is difficult to figure out exactly. I would expect that we will see the impact. That is in the second half of 2016. Anna he said your cost of operation performed below 10 a barrel. That means your profitable at anything about 10 a barrel . Those 10 on our breaking costs. That is what we pride ourselves. On stream aght greek field and we operate with 50 equity. This field is a new facility and low breaking costs. A megaproject, and an operating cost of that will continue to increase from 10 level to below 10 which is an ideal position to be in. It is amenable to the oil price will go to 10, no. For that is good to hear many people, im sure. You are a business focused on exploration. Is there a time when you can secure better rates from suppliers . Should you be going out and doing more exploration . Course you have to take the opportunities as they come. There are benefits to the low oil price. One of the new just mentioned, regrades. Yet to be optimistic and realistic about what is happening around you in the world. And we will be going out continuing organic growth stories. We will continue to explore and taking full benefits of the market today. It is a balancing act between expiration and development. They recently acquired 4 of your business, are you expecting them to take any further ownership and to the stand in a position to block any other interest in your company . Question i think the if they will take more is something you have to ask others. I believe not, secondly, i think it is a testimony that theyre prepared to buy a premium on the equity market it is because they know that assets very well. They got a high regard for those assets. I see that as very good news. At this point, they cannot block. You said that you come in terms of your operations, once you take advantage of low rig rates, what about deals of your own . It is not part of our main strategy, but we will be optimistic if we see interesting deals that are strategically interesting for us. We would certainly look at them. Anna thank you for the much for joining us. Yahoo ceo morris meyer has long argued that she can for the struggling web business back on the path to grace. Could you finally out of options . She said she would consider part of the core assets up for sale. Staff has been cut, and offices have been close. Shes optimistic about her plans. I never believed more in this company. Product,ople, and the and the inherent value of what we do. To be clear, it is a strong plan and a bold plan. We have the full support of the board. Anna caroline joins us to bituss the overall a little more. Some dramatic news perhaps coming out of yahoo . Caroline it is a bold plan, it had been well expected. It is not living up to many expectations. You are seeing 15 potential cut and overall employees. It is about 1500. Theyre getting out of games, and smart tv. They expect to cut costs by 400 million by per year by the end of this year. It is not all quite music to investors years yet. We will focus on the main business, the mobile and video and native social platforms. They are reversing spinoffs. Theyre taking the target business off. That would be done by 912 months. What they are worrying about and have already put on the table potentially is the more extreme version of events. Consider a complete sale of this business. She is considering putting the companys core assets up for sale. Theyre open to any transaction or any proposal. Caroline if there were to be a sale, who might be interested . Caroline i think some of already raised a hand in this. Keep an eye out for verizon communications. Remember,ed up aol, and would be quite a good fit. Yahoo still does have a lot of rivals. The sill of one billion users, more than that when you look at news and sports products. That could fit nicely into a Telecommunications Verizon already offers. Also, private equity could get involved. Remember, 3. 5 years at the helm for mercer myers. She is already slashed jobs. But the really desperate thing investors want to see is more drastic action, changed of the top and management. Anna talking with the management, caroline, thank you. We willh bloomberg, speak with Marissa Mayer dont miss that conversation on bloomberg a little later on during programming. Falls below 30 a barrel. Is there a future for fracking in the u. K. . Bend me shape me, any way you want me as long as you love me, its alright bend me shape me, any way you want me youve got the power, to turn on the light shape the best sleep of your life. Sleep number beds with Sleepiq Technology adjust any way you want it. The bed that moves you. Only at a sleep number store. Co welcome back, this is untdown. Nejra china has offered to buy syngenta. To plan to take over the sea make it comes as the state backed company extends its shopping spree. The cash offer be the biggest acquisition yet by a chinese firm. Below 30 is trading a barrel, triggering a fresh selloff on asian stock markets. They had similar losses in hong kong. Oil saw biggest twoday drop in more than two years. Seven years. And was are projected oil prices will climb by 50 by the end of the year. Reach 46 a barrel during the Fourth Quarter while brent will trade at 48 in the same time. That is compiled by bloomberg. The king of spain has asked the socialist leader to find a solution to the companys political stalemate. Lending moral approval to the negotiations. That is following consultations with the leaders of all parties. The locally transmitted case of zika virus in the cut that of u. S. Has been confirmed in dallas county. That confirmed after the outbreak was declared a Global PublicHealth Emergency. A patient became infected after having sexual contact with a sick person who let returned from a country where the virus was present. Mark zuckerberg became the worlds fourth richest person as facebook chairs shares fended off plunging stock prices. That defaulted him above jeff bezos on the bloomberg billionaires index. Global news before hours today powered by our journalists and news bureaus around the world. Is amazing how rich one can become overnight. Lets talk about the spanish bank. Would tell you what their numbers say about the performance was at the net profit coming above estimates for the Fourth Quarter. At 824imate was set euros, that is moving in the right direction. Their capital ratio also fully loaded racial 10. 3 , an improvement over septembers number. Numbers coming in better than estimated. Capital for a much in focus in this sector as a whole. The concern was whether the situation would dampen the performance and lasting america. This is a business where capital the commission is key. There has been a disappointing level in the Third Quarter. Rebuildatching as they their capital orga