Countdown. I am anna edwards. Manus breaking news, let us take it off with statoil, the Norwegian Energy giant. The market was looking for profit of 294 million. That is considerably less, the understatement at the start of the reporting day. Adjusted earnings at 913 million, that was after 1. 3 billion Capital Expenditures cut, adjusted net loss at 28 million. The estimate was for a net of 294 million. They are holding on to their output guidance. However, they have cut down to 12 billion, the first of a feast, as it were, a breaking news. We will have the ceo, eldar saetre. Anna let us get on to another corporate breaking numbers, that is santander. The bank of course based in spain, but operates globally, they have given us a net profit in lineillion euros, with the estimate of 2. 8 5 billion euros. They say they have a goal of raising Dividend Per Share in 2016. A business that has a number of headaches, eliminating around 1400 jobs in spain just this year. Low Interest Rate environment very topical. Competition for business has been eroding margins. Political turmoil in their largest market, that is the u. K. , on the back of the brexit though. All of that is very topical, as is the worst recession in brazil where they also operate, and what they can do with the u. S. Unit. Sailing the reserve stress test. Lots to talk about. On the move will be speaking to santander, u. K. Time. Manus we have the airbus numbers. ,ne other line on statoil they will have a Share Capital increase for the issue of dividend shares. This is an interesting line coming, anna, airbus . Anna the top line and turn to the guidance really important, facing various delays, guidance has confirmed the 2016 forecast. In terms of the charges, which is going to be interesting for analysts and investors, taking a 1. 4 billion euro charge for the charges against the cost of fixing faulty boxes. That not know how deep would be. But with the issue of the a350 widebody, that is the interior fitting, they could not get the interior up and running in a timely fashion. A bit of a headache for the ceo. With all of that in mind, the key concern for analysts was whether they could confirm guidance. And they have said they will do that. Will that be a tough ask, given the delays they face in the first half of this year . Manus we have a little bit of tracking of stocks as well, sticking to the fullyear forecast, sales dropping considerably. Of course it was all about the language that many of these institutions are using, in terms of the outlook. Anna really interesting that looking at the forecast, sales dropped considerably as you say, no change, but did some fairly gloomy statement. Excluding items, 1. 7 billion euros, just a touch shy of the estimate of 1. 7 6 billion euros. This is the Worlds Largest chemical maker were getting numbers from. They had agreed during the most recent number to a multibilliondollar acquisition, that was a 3. 2 billion purchase of a coating business. Expanding that side of the business. Really interesting about monsanto as well, because we understand they were in questions with monsanto stock, in exchange for the agrochemical business at basf. The agricultural solution business at basf profitable, but small compared to dow, dupont, syngenta. Lots in the mix when it comes to basf, but one of the headlines coming through from that. News. A feast of breaking we have much more to come. Of course the most thre recent line from abe, stimulus next week. Let us get the first word news with tom mackenzie. Tom thank you, that is. On yen plunges and recovers abe says stenniswb will look at. The packageorting will include ¥13 trillion and low interest loans. Hillary clinton has been nominated as the first woman to run for president of a major u. S. Political party. And happened after Bernie Sanders took the microphone to ask that his formal rival be unanimously named the nominee. Chair, ianders madam move that the convention suspend the procedural rules. Cast byhat all votes delegates be reflected in the official record. And i move that Hillary Clinton be selected as the nominee of the Democratic Party for president of the united states. Clintonnwhile, bill paid his own to become his wife. Mr. Clinton she is insatiably curious, a natural leader, the organizer, and the best darn change maker i have ever met in my entire life. Tom apple shares have jumped in extended trading, after the company lowered cost iphone gained more traction with users. Forecast sales fall for third consecutive quarter, from the current period, better than most analysts estimate or the aussie dollar spikes after australia gained more left water, allowing the rda to make any further Interest Rate cut. Glenn stevens which is to act next week, now fallen to 40 . U. K. N billionaire says the must explore historic relationships, decoupling from the european union. He spoke to bloomberg from his office near Buckingham Palace. The u. K. Has the best relations with the commonwealth countries. Will am sure that they negotiate and try to work more on the commonwealth countries, where they have a hedge on the european union, as well as india , where they held long historical trade relationships. Day global news 24 hours a powered by more than 2600 journalists and analysts in more than 120 countries. You can find more on the bloomberg top. I am tom mackenzie. This is bloomberg. Anna thanks very much, tom. Let us talk manus about what is going on in the currency in the yen, breaking news from shinzo abe. Manus he says this the is maybe more than the ¥28 trillion. We saw reports of ¥20 trillion, ¥30 trillion. This morning we saw this dropping on the back. Anna on reports that we might get an update today. Manus here we go, just trying to decide where he are at the moment. The top line is 105. 66. If they disappoint in terms of the stimulus, is now over to kuroda, and what he will deliver in terms of the triptych. Anna now we have japan just this week, perhaps into next week as well. We will keep monitoring this. David ingles is looking at this as well. He joins us with a look at the asian market session. Plenty of news out of japan today, david. David yes, plenty of news out of japan, across asia. But again, let me get started with the yen. It has been thrown all over the place, as you pointed out. Reacting two conflicting reports on the size and timing of the stimulus reports. Comingout of the kyoto news agency, ¥28 trillion is the size of the spending package. Just put this into context, this is about 104. 63, all the way up to about 106. 54. And again we are pushing towards the upper end of this trading range at the moment, of course we do get more details will bring that to you. That being said, have a look at the equity markets in japan. Yen. Usly, the mercy at the nikkei 225 up, as much as 2. 3 a moment ago. And i just showed you dollaryen, 105. 67. Have a look at the broader picture. The asian pacific, other stocks i want to talk about, have a look at shanghai. 2. 5 down. Small caps getting close to being sold off. Index overall, everything together, a little bit higher. The foreign markets are concerned, ultimate stronger in with the exception of the japanese currency being sold off of the moment on the back of this news. It is a developing story. A lot of news coming out of your. Anna, manus . Manus all about the details. The devil will be in the details. Yen has a volatile morning. Weakening again, all on the back of the report you just said, the japanese Prime Minister shinzo abe will indeed deliver 28 trillion worth of stimulus. This is we understand from the news agency. Ianz says the Federal Reserve policymakers must be keeping rates so low. Anna and many to be aware of the possibility of unintended consequences he says, he spoke to Bloomberg Television ahead of the fmoc rate decision, due this evening. The less effective centralbank stimulus is. It is ironic, but this is a recognition that it is not spreading within the fed and beyond, that the u. S. Is having as much structural problems as it is cyclical problems. Which means of the answer to high growth Financial Stability is not in the hands of the fed, but in the hands of the other policymakers. And if they continue with Interest Rate being too low, and risks causing Collateral Damage and unintended consequences. Manus joining us now is lothar mentel, from tatton. The volatility is definitely in the yen, the gap between actual and expected is the widest since 2008. These news moments just keep popping. ¥28 trillion of stimulus, from what we understand, is this the kind of shock and awe you to see on friday . Lothar i think what we are seeing is a fiscal policy is not really what the markets are looking for. It was monetary for a long time, is this the breaking of a new era where fiscal austerity is dead, fiscal austerity coming back on . I interviewed that volatility because the markets are very much geared to the perspective. Anna talking about ¥20 trillion, 250 billion, Something Like that. The japanese economy, is that going to be the size of the arrow that is needed to really make a difference for japan . Lothar it seems big. It should probably do quite a bit for the japanese economy. Whether it is big enough, we will find out. The markets seem to be little bit undecided where that is or is not. Manus tell this. The that reset everybody else . Let us say they take the ¥28 trillion, maybe some forward guidance, quantitative easing on friday for the bank of japan, the that reset for everybody else . Lothar not necessarily. Japan has always lit the way. But recently the talk, if you faren to the politicians, more towards fiscal stiglitz going hand in hand the monetary stimulus, because as we just heard from a homage, monetary stiglitz is running out of potential. Therefore, it is fiscal that is to come in, particularly when politicians are starting to get worried about Election Outcomes that are a bit unexpected. Anna and consequences. What about the currency markets, if we are moving towards a fiscal stimulus environment. We got used to the idea that monetary stimulus is a way of weakening the currency, that was the intention, whether it worked in japan, that is perhaps less clear. But we have seen this talk of big fiscal stimulus in japan, weakening the currency, is that what should be doing . Work as through that for us. I said, are wes about to extremes a paradigm shift . Because if we are going for fiscal stimulus, alongside monetary, that would reintroduce inflation and inflationary perspective for us. And that can have very different consequences for currency. And its so, yeah, i am a little bit surprised by the impact, but maybe that is just after 2530 years of deflationary experience. In japan, markets do not believe they will get back to inflationary environment. Manus i will interrupt you both for the moment. A little bit of breaking news coming through on two different notes. Let us take off with Deutsche Bank, the bigger at the moment. Net income at 18 million euros. The estimate was for a loss of 22 million. That is the red headline on Deutsche Bank. Secondquarter revenue comes at 7. 4 billion. A heck of a job to do in terms of convincing the Shareholder Base he has a turnaround plan that will work. Second one revenue, looking at 7. 8 billion. Litigation costs, 120 million euros. The estimate out was for 732. Upbeat. Me is definitely we were looking at a loss, 18 million delivered. Litigation costs, i can tell you dropped precipitously. The market looking for a number that was higher at 732. In terms of restructuring costs, 7 million, lower than the estimate of 312 million. Currency, that is going to be the critical part of these numbers. We are looking at 1. 9 5 billion revenue from the Global Market business. Pretax profit 28 million. A betterthanexpected number, litigation is falling. That is the top line for Deutsche Bank. On the other side, we have Air France Klm, a host of warnings. Air france seeing downward pressure in terms of revenues at the moment. Secondquarter revenues coming in at 6. 2 billion, a little bit less than the market was looking for. 6. 6 5 billion. They reiterate that they are sticking with that special concern about the destination of france. Of course those tragic images we have seen in nice 10 days ago. They are warning on the situation domestically in france, that that is going to be the slump. The actual terror streak is weighing across the entire industry. And Air France Klm says the market is deteriorating. Shares will fall, as they are seeing. The hotspots in nice on the riviera. It is a beat for john prior at Deutsche Bank. He says he is satisfied with the progress the company is making. It is a weak environment, and they may need restructuring. Terror hits at the heart. Anna theyre talking about how the state of the top tourist market is under threat. That really taking it very seriously. We are going to be speaking to the cfo of Air France Klm. Going to beb joining the program at 7 30 u. K. Time. Manus close to your day had set up. We get Consumer Confidence figures out of germany. 45 minutes later it is down to france. And at 9 30, the First Reading of u. K. Gdp for the Second Quarter. That is released. Get at 1 30 u. K. Time, we goods data out of the u. S. And we get the fomc rate decision. Manus ok, lets get the Bloomberg Business flash. Tom mackenzie standing by. Biggestus, the worlds luxury good maker has reported firsthalf profits in line with estimates, after stronger demand offset lower tourism growth. Recurring operations with little change at 2. 9 6 billion euros. Analysts expected 2. 92 euros. A u. S. Judge has given the vw plan toor the the get off the road. And putting a possible fix , costing the company about 15 billion. Is given full approval, the plan would clear the biggest obstacle to the scandal recovery. They will revise the way they reported vehicle sales, investigated by u. S. Authorities for inflating figures. The carmakers new method will no longer include a reserve, figure and what accounts for returned cars. Monthly sales gained what have ended in september 2013, rather than the 75 consecutive month of increases the reported in june. And that is your Bloomberg Business flash. Anna, manus . Manus apple gained in extended trading after reporting thirdquarter revenue and profits that beat analysts estimates. Sales of the iphone se were higher than expected, as consumers embrace the lowcost model. Manus twitter fell after hours after the thirdquarter revenue fell well short of analyst estimates. David joins us now with more detail. Rate have you in the program. Let us start with apple. Could the cheaper model then revise slumping sales for the device . This is a model that was not embraced by analysts. They thought it fell between two stool, when first revealed. David absolutely. Especially markets like china. A lot of analysts believe the Chinese Market is addicted to larger phones, rather than what the se represents. Demand wasying that well in advance of supply, up until just this quarter. Suppose the real issue here is about whether we are k apple. Ea talk about twitter. They essentially disappointed. This is all down to video, the promises they made. David absolutely. When you look at twitter, the reason why a lot of investors are backing, the ability to monetize user base. And the video that is not ready, it is very disappointing to a lot of investors. To come out and say that after several quarters of promising video revenue, the Technology Just is not there, frankly my not be good enough. On the video front, there are so many rivals such as snapchat and facebook, taking up the platform quite successful. Shareholders have other options that they want to go summer else. Anna david thank you very much. A quick look at what is going on at apple and at twitter. Lothar mentel still with us in the studio. Dell into the tech sector. We have been seeing contrasting performances on the back of earnings. Apple surging. Twitter collapsing a little. What do you make of the tech sector, where are the hotspots you want to get exposure to . Lothar i think tech is very exciting, but very stock specific. Overall, because there is a lot of cash being burned without much return a quite a few areas. What excites us is where technology existing, combining toward something new. I think that is really where we will see things in the future. Pokemon go is an example of that. My kid seems to be spending all the time on that recently. They even bought new batteries to power their phones for longer. But if that is more the gaming area, and im not sure how much revenue will be in there i think theat sales drive. Anna the next big thing to invest in tech is a software, and what you do with a hardware, rather than the hardware itself such as apple. Lothar it is the convergence, the combination of Different Things into something new. You know, so if we think of the selfdriving cars, at Dustin Byfuglien things already exist. But you need very Clever Software. And there are a few question accident. The tesla maybe they were little bit too early, where we would want to have something that is little bit more refined and certainly safer. Manus when you look at apple, and what we have here is the revenue chart, you sort of have to ask your self, the iphone is nearly 60 of the revenue, everybody asks every quarter, are we at peak apple . The new iphone iteration, when you look at this, is it at the peak . Lothar well, you wonder, dont you . Yes, i struggle to see where there is going to be more upside, compared to the past. Peak. It feels like i s