>> dealing with failing the banks. mario draghi set the current proposal might be too complicated to work properly. the future of flight for heathrow. the airport commission will release a new expansion shortlist this morning. we will speak to the chairman about how the plan will take off. ukrainian president heads to moscow. he will meet with president putin to get a bailout. gripped his country is by the biggest demonstrations in almost a decade.
>> hello, welcome to "countdown." i am mark barton. >> i am anna edwards. bloomberg reporters are standing by across the world to deliver the stories that drive your day. european finance ministers meet in brussels. we will look at the future of flight for london. caroline hyde has more on the u.k. airport expansion program. >> ukraine president is heading to russia for a bailout. an unlikely combination. by oneark chain backed of china's richest man. ipo. manus cranny is looking at the u.k. biggest consumer electronics retailer. >> the big interviews coming up. all a bloomberg television this morning. a new development in the debate over extending airport capacity and the u.k.
list ofout his short options for expansion. we will be speaking with him on "the pulse." his reaction. both of those interviews on bloomberg. >> european finance ministers are meeting and brussels to try and agree on a bank resolution mechanism to deal with future crises. david tweed is an berlin. it used to be mario draghi concern it would be complicated. >> is my job to explain simply what the plan is. there are two aspects. one is a banking resolution mechanism. the problem is according to dragic it would be administered by a board made of representatives and created under existing european law. there is the resolution fund. the proposal coming from germany is that font instead of being,
lee financed would be created -- fund instead of being finance by individuald institutions. draghi said that is too hard. >> it needs a strong and asdible resolution mechanism its counterpart. responsibilities for supervision and resolution needed to be at the european level. thus, i urge you and the council to set up a robust, single resolution mechanism for widgets are essentially in practice. a single system, a single authority, and a single fund. he is saying what if the european central banking decide a company or bank is
unfit to continue, a decision needs to be made in his words and an instant. he said you cannot have hundreds of people consulted each other about whether or not a bank is viable. it is putting a little bit of pressure on the finance ministers to come up with a viable plan after today's meeting. another president is taking up a calls save the government needs to accelerate integration. was he specific? a financiallking in times interview. the context of what he was saying is the european leader summit at the end of the week and they will get together and talk about arrangements. the big subject. contractual arrangement would be agreed by european union to undertake certain economic reform. a bit of a push back from a group of countries that want to
see some the financial incentive. this is the flavor of the discussion and that will be taking place in brussels at the end of this week. >> thank you. david tweed. commission airport reports a short list within the hour. movies big with the commission chairman. how would expanding it affect business? caroline hyde joins us. what are we expecting? >> we know it is an interim report. he used to head the fsa. 58 proposalsmining of how you're going to boost capacity and if you need to boost capacity and in the u.k. especially southeast of england. heathrow airport itself has three ideas of how they could boost increase to passengers of by 62%.
18 billion pounds. the biggest single runway itport in the world in fact, laid out three proposal again about how would have a new landing strip by 2025 that would cost 5 billion pounds. the short-term and needs would be and where expected today an emergency proposal on how to boost in the short term. the network and more night flights. yes, we need to increase capacity and have to decide whether -- >> they think is very important to boost capacity. by a 100 business leaders. chairmanke to the about this subject. >> a huge array of people. boots, universities,
solicitors. levy. yesterday talking about it. >> they are trying to put forward the business need. they said you can add a $1 billion to trade per year if you had one route going to each other developing economies. if you have a new one each day to brazil and russia and india and china, 40% of exports go through these areas. the need for a business angle. it will be so heated. know one party is against having a new runway at heathrow. the labor. the battle lines are drawn. >> thank you. >> the u.k. -- the ukrainian president heads to russia for a bailout. ryan chilcote.
understand from two sources the ukraine is talking about borrowing this team billion dollars for russia. in addition, the price of gas. they get 60% or gas for russia. a discount on it would be helpful. one source that they could get 25% discount. earlier, ukraine went to the european union and said amy 27 billion. they did not get it. -- said they needed 27 billion. them into default. the only question are the russians really going to come up with the money? that is what the tens of thousands of people on the square in kiev wants to know. and opposition leaders said that. we know will get a good gas price. return? they in
are worried that russia will uses as a way to pulling ukraine closer. >> how much does ukraine need of money at the moment? badly. by their government, they need $10 billion to avoid default. as exactly how much they have in their reserves. pointf what they were two five years ago. there's a big concern that the country is about to have a currency crisis. you're the central-bank that has been supporting the currency. those currencies are really low. economic stability and there's concern there will be a run on the inks. if you look at investor reactions to the trip, they are upbeat. the 10 year bond and the benchmark and yields are down below 10% this month. how people perceive how risky it is to lend to the
ukrainian the government money, those dropped. arear as investors concerned, the third most risky country in the world after venezuela and argentina to lend money. >> a preview of what else is coming up. he has the details on amc, a u.s./china company. ipopo raises a more -- ts raises more questions than answers. let's start with you. >> this a fascinating story. why would a chinese tycoon want to take a public one of the biggest movie chains and in the u.s.? we are looking to that. a story of what and prestige, got a little bit later in the show. i was handed over to my colleague, manus cranny. thank you.
we'll get numbers from addictions. a fantastic christmas. -- we will get numbers from dixons. all teh boon. the stock is up 83%. already taking to twitter telling us is going to be a pretty good christmas. they are taking on 3000 extra staff and will deliver bundles of fun for christmas. we'll talk about that and how british baking plays into their numbers. mark, he cannot wait. >> you mentioned baking. >> see why very much. >> a look at the federal reserve meeting today. our next guest said currencies will have a neutral reaction. ♪
to say that bank about 320 million pounds a year. they entered the agreement after they need to fortify billion pounds rescue. .escue -- workers and germany they want to reinforce their strikes for higher pay and better work environment. the union told a newspaper that it will be during the christmas holiday. top is are heading to the white house today. tim cook and marissa mayer are among the groups invited for a meeting with president obama. it is the sweep of telephone and data is under increased pressure. >> welcome to "countdown." i am anna edwards. >> i am mark barton. decide to taper by the end of the year? our next guest said to be boon would not be -- what has been
priced? bloomberg put the odds of the taper taking place at 34%. hasn't been priced in? thequity markets feel of fed is a sweet spot. the u.s. economy is doing ok but not enough to cause tapering. and not tightening. that is what web looking at. interest-rate expectations for a rate hike have not moved in the last few weeks or cents the payroll. -- since the payroll. the fed has finally broken the link between tapering and tightening. they are two different things. >> does that mean they have broken the link they do not need to push the unemployment threshold lowered to introduce an ablation for a another measure to convince the market we are not going to raise a rates?
they need to do something. particularly the unemployment rate. we expect them to push down the threshold to 6%. that could be very aggressive and go down to five percent. >> we got a budget deal. no shut down. at least not for the time. his really is significant step -- this is really significant. and looking further ahead in the u.s. of thesymbolism democrats and republicans working together is very powerful for the market. the weekend, politicians were unleashed over the weekend shows. all of a sudden, the debt selling the stock -- it was about to debt selling. it deftly calmed down. not as bad the last time around taper. issue is ailing
massive hurdle. it is caused many problems. like the u.s. losing its credit rating. made thatkets disconnect between tapering and tightening. just because they draw stimulus it does not mean that will could interest rate. do we need to see them at adjusting the unemployment threshold? if they decide to taper next week or when they do? >> i think so. definitely. what is quite interested in the federal reserve it'll be a hold changing of the guard. not just a janet yellen that will change what a lot of other members. the whole makeup will change. the market does not know how the fed will react and whether decisions will be undone and january 2014 going forward. >> stanley fischer changing the
dynamic. what might that mean for the currency going forward? pragmatic guy. he was at the bank of israel. that is a good sign. he is slightly lesser dovish than janet. it suggests real balance. investors should be concerned they cannot guarantee on a dovish fed next year. to hawkish members are coming again. that will be powerful. week,we get taper this what does the market reaction going to be? taper, weet a small could see the dollar spike up a little bit. i do not think it will be a not really to trigger some kind of long-term move or major move higher and the dollar. the dollar/yen would be sensitive. ,gainst the euro and the pound at the and of the day, the fed balance sheet will be
we are back with kathleen a brooks. let's talk about the pound. we have inflation data out. >> we are expecting it to pull slightly out. he could be a 2%. the target rate. i do not think when mark hardy said -- carney said it would follow this past. a slight impulse across the world will stop nottage is a the u.k., it is an admirable it would fall. -- across the world. not just in the u.k., it is inevitable it would fall. the long-term a rates we are going to have a time of low inflation. >> i know the political conversation at the moment is around the cost of living but not politics. how is there such a disconnect?
perhaps the person on the street does not feel like it. >> it is because it is an index. it is relative to the year before. prices could still rise of but at a slower pace than previous years and that would have a negative impact. wages are still falling. they are still negative. that is the key thing for the bank of england rather than an inflation coming to target. it is good but no glory is there yet. >> the big news out of australia. meetingtes of the last it was sad -- it was said that will loosen policy. the aussie is high. low level.cord how soon before they cut rates again? the $.85 level without cutting forward. essentially, no, that is my
answer. i do not think you will. we have heard before. wants 80 -- want a weak kiwi dollar. especially what is going on in japan and elsewhere. they have got room to cut rates. they could go down to 85 and they may have to. might boost its currency policy -- possibly. >> a desolate we expect. there broke a laundry. is what wehat expect. -- that is a required jury. -- quandry. mixed data coming out of the eurozone yesterday. the different influences of france and germany.
outlook? assess the made -- theyey shocked in the markets. they cut interest rates. see germany, the manufacturing sector picking up a by the end of the year. you'd expect a net a rate cut or more at any type of stimulus -- you can expect a interest rate cut or more of any type of stimulus. that is where they are going to focus their attention. >> what does the rest of the eurozone the do? interestingbeen over the past few months is the fact that france, you cannot say it is the core economy anymore. it is very, very weak. absolutely. it is looking much worse on that front. >> kathleen, thank you for joining us. we will look at
>> i am mark barton. plans onghi criticized how to deal with failing banks. he said of the current proposal might be too complicated. leaders are meeting in brussels to come up with a resolution mechanism to ease financial crises. angela merkel will be sworn in for her third term as german chancellor. yesterday she signed a platform. the christian democratic it in a control of key ministry. will alsober cabinet be sworn in. ukraine president and heading to russia asking for a bailout alone for as much as $15
billion. he will meet with vladimir putin in moscow. antigovernment protesters forcted the deal and urge closer ties with the european union. >> welcome back to "countdown." i am mark barton. >> i am anna edwards. the australian treasury has warned the budget deficit would balloon beyond forecast. let's get to paul allen. what might be the expectations going into the update today? >> good morning. expectations were very ground. -- grim. they deliver on the bad news. 47 deficit is expected to be
billion dollars. nearly $17 billion more than projected the pre-election forecast that came out in august. it really is a very big blow. it will not get better. one has already walked away from his election up klatch. he is predicting $23 billion in deficit over the next four years. more deficits mean more government debt and is expected to be 300 $10 billion by june 2014. to give you perspective. -- it iser would be all it down. be government expected to 606 and $7 billion by 2023. .- 667 billion by 2023
unemployment will have a six in the front. they expected to reach 6.25%. >> international perspective on those numbers. he is being explicit about the scale of the problems. what does he plan to do? >> in a word cuts. the fact that the 20 government thencies, the one who won election is signaling more cuts on the way. a getting rid of the carbon tax. the chief of energy and to get rid of mining tax which did not raise any real revenue. what he has done that he said there will be no new taxes. not ang nothing is option for australia. if we want a dynamic and modern deliversnd that
ongoing rises a living, the heavy lifting of reduction will have to come from spending with restraint rather than taxes. no thing is for sure -- country has ever taxed is way to prosperity. day, he isnd of the a politician. he is taking the blame for all of this -- he is putting the blame for all of this on the preceding government. >> shocking stuff. thank you. >> an unlikely combination. of china'sby one richest man. the ipo raises more questions than answers. more on that story. good morning, zeb. are talking about amc entertainment. one of the biggest -- the second-biggest in the u.s. and is on by the third richest man in china, wang jianlin. he is a property type,.
he was listed as the richest man in china. -- is a property tycoon. states and the united and comes as a discount to its peers. the company is facing slower growth. $2 billion in a debt. some analysts are questioning why private investors would want to buy into the deal. amc is focus of the big cities like new york and los angeles. it was late to the game in terms of upgrading its cinemas to better chairs and service and food and joint. to turn it around. he is betting on the theater markets. whether investors will bet as heavily as he is when the stock make it ipo on wednesday. >> the top ranks of china rich list is showing a bit of a reshuffle. is higher executive
on the billionaire scale. who is it? man of very well- known in this part of the world. and critically well known in your part of the world. he is chairman of asia's biggest internet company. to become the second richest man in china. the numbers here. a word of $12 billion. bys surpasses wang jianlin $100 million. messaging service is doing very well in the asia-pacific and other parts of the world. this is called a stock you wanted to own for the long term. ma going to the top ranks of the billionaires list. a fight for the top across the spectrum of billionaires on the chinese mainland. >> thank you. >> it has been a few months
since the finale of "breaking bad." sony pictures and amc have a spinoff in the were -- works. jon erlichman went to hollywood to catch up with the favorite sleazy lawyer or the actor who plays him. cool careerpretty from direct have producing. if you're a fan of "breaking bad," you probably know him as -- shows, i have written the show i am on. bad to some that negative energy and put into positive. it is really exciting and fun to not write and just to show up and get to this character who is
not me at all. did you think the world will fall in love with a sleazy lawyer was mark >> i do not think everybody would embrace this guy with the comb-over. no. they love him because he is inside of the tv. >> his key phrase it -- that is not my tiger. >> you can continue to binge. the audience have snowballed in such a big way. done when i say we are done. >> and will be coming back. "better call saul." 24 --slated to be run and in 2014. we'll be shooting in may.
it will be its own universe. his own unique project. all thoughtngs we we knew about saul that we didn't really know. >> he sleeps with a teddy bear. i would not be surprised if there is money. he has never seen the inside the courtroom which will be good to a lawyer. he is a good lawyer. he writes all of own commercials. >> better call saul. >> i cannot watch any of that. i did not watch the last eight episodes of "breaking bad." i was so were it would give it away. >> that is why you had your head down. i like to the phrase. three things you do not know about saul. do not knowings we
>> time for company news. china's luxury slowed to the lowest paid in 13 years. his answer made it to of increased two percent this year compared to 7 -- it is said that it increased to two percent this year compared to seven percent on last year. the bigger drop in three weeks after analysts said twitter new advertising products may not be enough. communication is said to have added goldman sachs to help with time court -- time warner cable bid.
it is also said to be working with bank of america and deutsche bank. >> welcome back to "countdown." i am anna edwards. >> i am mark barton. european auto sales are out. hans nichols joins us from berlin. have we turned a corner? the outgoing ceo of gm would certainly like to think so. the last few months we saw slight increases but for the overall year, six straight to decline. 10.6 million cars. there are some reasons for optimism as the ceo, after going ceo said yesterday. >> i think the european market is starting to show life. some entries are doing better than others. -- some countries are doing better than others.
we made a commitment we will be and europe. just country by cotry. manufacturer by manufacturer. look at the numbers against peugeout. 3.2 million vehicles. up and down a little. down to 2.9 and 2012. taken look at vw into the steady progress they have made. nine .1 million. would you look at the hottest selling cars in october, you start to understand some of the eugeot is facing. also take a look at the share price. an absolute beating. gm said it was looking to get out of the partnership selling seven percent stake. yesterday it was down nearly 30%
in five days. that is a precipitous decline. we will see whether or not as they can turn around or if there is optimism in these figures we are going to be getting in about 15 minutes a >> would've a short list for car of the year. drum roll. who made it. >> i will have to look. alphabetical order. not taking it. the bmw i3. mazda 3. mercedes-benz s. s. tesla model mark, i will not ask you what you drive. >> i can ask in a word. nothing. >> thank you very much. numbers withine the hour. it snaps the market share.
man is crazy with more. -- manus cranny with more. >> it will probably be the first profit. this is definitely a transformation story. the stock is up 83%. the ceo took to the twitter. expecting christmas and a good set of numbers. position andinant the u.k. and is well-positioned online. is the second-biggest player. components,s to the when the big competitors, that was last year. when you look around and what did they have got, they have hardware, services. i went to grab something recently. there's a service the desk. >> you had a lot of questions. >> a lot of questions.
>> you are tricky. >> and, tricky. >> only on wednesday. >> it is not only product but touch and feel. fantastic christmas. everything under the sun. products, they are all there. >> tell us about it. >> a great british bake-off. women,suddenly, men and are looking at their cages in a different way. is about the baking. baking from scratch. this is what they are seeing. to mary berry. an iconic woman. >> i am two days into the four- day process of making the mary berry christmas cake as we speak. there's a lot.
>> did you buy new kitchen appliances? >> i am quite traditional about these things. >> why does it take for days? >> you have to marinate. i was in the shop having a debate. brandy versus sherry. >> crack it open. on a series of notes was a getting away from that. -- sirius a note, getting away from that. active, basically the core business is in the nordic. pastures formed the company. and benefits to come. -- sebastian james has transformed the company. all ofention systems,
that is deep rooted issues. they will scale back in the number of physical stores from a 500 to 400. your ability to raise your finance and improve your finances. they have everything from tablets to baking to bricks and mortar. >> that -- >> of course, it did. necessarily a goal to shop. there are no other options. >> it takes three days. >> i am not doing very much for three days. >> i thought you were busy. >> would then talk about at the break. i'm not sure all the viewers want to hear this conversation. >> facial reconstruction expert. ♪
facial reconstruction created by a french expert. a modern french expert who has given us the face of maximilian. the revolutionary leader during the french revolution. where did he get the details to make it? it came from a model made by marie. who made herself famous by taking -- a bit grandma. decapitated heads out of vasquez. -- a bit grim. -- taking the decapitated heads out of baskets. some of her marks of live on. this how he created this. >> what is it made from? wax. >> i am not sure. a high level of technology. who loves brussels sprouts?
>> love them. hungry wood pigeons are rummaging the scraps. [indiscernible] this year, the birds appetites is ferocious. we have a slight problem on our hands. >> some people hated him. >> i did not like them as a kid. george w. bush does not like broccoli. >> and they now how sweet brussels sprouts. for the kids. [laughter] with an inspirational contribution. this the new york times story. the fourth ranked best in the world. she can now surf without pain. she missed the u.s. open and she
wants to go back. she is unfinished business. she said serena williams asked. they have personal fortune. -- they have personal friction. exists. i am glad she [laughter] >> i think is really good. she does not really like her. but she said she makes are sharp. and she knows how good she has to be. to be talkingng about cricket? >> will talk about that tomorrow. focusing on the vista man. >> he was once the manager of chelsea. you mentioned daniel levy. [indiscernible]
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