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tv   Countdown  Bloomberg  December 6, 2013 1:00am-2:01am EST

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>> the man who overcame the crushing racial divide reaches the end of the journey which took him from prison to the presidency. it might be the best sense 2005. >> we talk bailout exit plan and what is next for the emerald isle. hello, welcome to "countdown."
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readyomberg reporters are to deliver the stories that will drive your day. ofare looking at the legacy the former south african president nelson mandela. we are looking ahead to induce lucid interview with the irish finance minister as ireland exit its bailout program. jonathan farrow has the details world highly anticipated cup draw in brazil. >> south africans are mourning the death of their first black president nelson mandela while leaders around the world paid tribute to his life. our tv africa anchor as well as ryan chilcote. emotional day for south africans all over the world and we have seen some amazing scenes coming out of south africa.
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>> firstly, when i heard the 9 p.m. or so,t at i was absolutely shocked. this is something we have been preparing ourselves for because he has been quite ill but it still comes as a shock. it is very emotional and it is a massive loss. of what is going on around his home, people are celebrating his life. it is a big shock. >> you did meet him. >> in 2007 he retired from the public eye. he announced he lost his son to hiv aids. and he is someone who came very and thought against the disease. he was a very humble man, all
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he was showing signs he was not really well and we spoke with him and he was full of smiles and always full of laughs. collects the economic legacy left behind, something that business week picked up on. fostering about growth in south africa today. let's remember where we came from. growth averaged that less than one and a half percent from 95- 2003. this is a very different system to a more integrated system which was more productive. if you look at infrastructure, massively expanding infrastructure, much more needs
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to be done there. the, less than half of people cook their food with electricity. >> they mention how he championed hiv and aids. >> if you look at pregnant women, four percent of pregnant women were hiv positive in 2003. the gap between the rich and poor, i was there this summer. that is the first thing you notice when mandela came to it is the average black south african. reconciliation is you hear that
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you mentioned a lot. put together a government. >> this is one of the things that we all remember very fondly about nelson mandela. this message of was one, peace, white and hope. he was very involved in the coalition. they're growing and reconciling people. we have 27 years in prison. sure what people have to say. he was a philosopher. this was typically a white
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sport. >> he was watching a moment, watching tv, watching the rugby world cup and knowing that nelson mandela was so close to that story and him wearing the whole regalia. >> there is this an bob way model. >> we always say, anyone would have done what that leader did. terms of integrating and the transition which was obviously much more difficult. economically, zimbabwe became complete remains in many ways. to president mandela, late president mandela's leadership. today, we will get the
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u.s. jobs report, all of the data out this week and setting the stage for expectations of a strong number. spec from the jobs report. 189ou're still looking for thousand. when you look at the picture of 2013, 186,000 jobs. you are looking at the best year since 2005. there are the adp numbers. this is a surprising numbers. a blip a little bit of in october. i think the beige book since is tenor and how widespread the recovery. they say modest, tomb moderate.
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most but not in our coming in at around 200,000. the market is already pricing .n >> thank you very much. >> the teams qualified for the 2014 world cup in brazil. the teams and fans wait to hear. , let'sand its warm up bring in jonathan ferro who's been shaking all morning. >> they just talk. all is a moment we have been waiting for. bookook your hotel, you your tickets.
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whether youruess team with the knockout stages. beauty of it, you look at some of the economy's out there. greece could put this to germany for once. these are what you want to see. >> you are partially english, partially italian. not a good or bad thing. there is a group of death, a group of joy. you can have holland, you can have brazil. it needs ant, it extra country. this is actually fascinating.
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for a lot of football fans, this is a big deal. >> we were talking earlier this week, they are at 10%. >> the first contraction since 2009. this was meant to be brazil's rival on the international stage. they come out and they have had a contraction. you look at the shiny brand-new stadiums. three and a half billion dollars. it is almost three times what was spent in south africa. there has been an out rising in this country. much was being spent on this event. on awill be so much sporting event. they are heading terms of the sporting event and the economy as well. >> thanks, john. >> now for a preview of what is
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coming up in the program. you are looking at ireland's exit from its bailout program. countryis the poster for austerity doing the right thing. michael lewis will be here later from ireland sets to exit the monitoring of the trike a full there is one in our stories which is irish and go commando. as they said to exit, they are not going to take any backstops from the european central bank. braces andr to have belts rather than braces alone. this is not a low risk strategy. that is for sure. ireland, even though the banks seem to have just eased out, we will meet and see how the bond market is. we will bring you an inclusive interview with the
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irish finance minister. 11 minutes past the 6:00. just ahead, it is jobs stay in the u.s.. we will see how the dollar might react and bring you the thoughts of our next guest and all things currency related.
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>> time for the days company news. standard and poor's has cut quant this's credit rating to junk. malawi is not leaving. he was thought to be taking the job at microsoft and steve ballmer steps down. the u.s. -- the biggest investment bank will transfer its drip is to the fixed income and currency division. the division will have no material impact on earnings.
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>> the time in london is 615 and we will get the jobs data out of the u.s.. what number would be big enough to force the fed to taper in it would have to be over 300,000. >> i would say would have to be 500 stocks .
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in the last few months we have seen a pickup in jobs after that summer slump. companies were still creating jobs. are still the slow down. the market is able to shrug off any political woes in washington. the uk economy grows faster
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than any other g7 country. they were painting that picture. rain.s the chance of the one thing that was quite worrying, the good news regarding the fiscal deficit is only cyclical. get us growth slowdown going forward, we might not see the fiscal contraction of the deficit that we really need. essentially our spending habit 's have not changed that much. we have been in austerity for so long, it was a shame that it was not more structural change. >> what does it mean for sterling capitol when you look at the top 10 currencies. this is against the other nine.
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can its strength continue. >> it depends on the bank of england. if it threatens the inflation target of two percent, we have target. inflation and this could force the hand because the strong pound could all of a sudden having a real problem of their policy. now, there is a real threat of that sum will push this into deflationary territory. is that real concern for the bank of england? >> it is not on their forecasts at the moment that we have seen such a huge appreciation of sterling already. at 164 level does look very sticky. it will take a little to push us up there.
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if we were to see a 500 moving. >> thank you. we will get her thoughts on the ecb.
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>> fellow south africans, our beloved nelson mandela, the founding president of our
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democratic nation has departed. >> that was the south african president jacob zuma announcing the death of nelson mandela. >> welcome back to "countdown." we are back with kathleen brooks. we have covered the statement. that was the big development after the uk. talking yesterday giving us a no change in interest rate. a more activist ecb? >> i don't think so. i got a message on that. this is the year of the review. how they're going to run monetary policy. >> they will stand the sidelines. the forecast was low.
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is making the ecb more hawkish. do the two late? how did they move monetary policy? >> that is during the q and a session. he was like, this is not meant to be like japan in the 1990's. there is the lingo with all of these toxic assets. essentially, it has been five years. the banks have been paying the funds coming into the asset quality review. they want this in the best possible form that they can be. if the ecb was to get more
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credit, we want to go to another. would behat the banks too interested. that would be aware of the polity review. >> we started with the fed. let's talk about the emerging market turn sees. tos is an opportune moment talk about currencies like the rant. if you look at sterling against the rant. this idea of tapering was revealed by ben bernanke. today, it is 17 round. is this very evident in the south african cross-ice? >> this is an emerging markets generally. you have not seen that fear of tapering which has hit the euro dollar. we have seen the dollar index against the rest of the g 10 really languish around.
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there is real fear of capital flow contraction which has been in emerging markets and is the same thing we saw in the summer. >> is that because they have been weakening? that is because of the emerging market growth story. there's is the growth slowdown, countries are getting hit really badly. india was the poster child of that over the summer. if they got bad and economic fundamentals. if there is any hint of the deficit, they are being punished. >> the longest run since 1985. >> the rba would love to see it fall farther. the economic backdrop is not for australia at the moment. they are dependent on that. >> there is a new breed of
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smart phones that burst onto the markets. we will talk to the head of the russian company behind it.
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well-ld leaders and wishers are mourning the death of nelson mandela, the former south african president and anti-apartheid activist died yesterday. he won the nobel prize for efforts to reconcile his country. 11 extra ordinary life and he really wasn't alive. he did not know what was going on. he has left the incredible
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legacy. think that anybody is meant more to the world the nelson mandela. beene port of hamburg has closed as german residents deal with a storm. it moved to shore causing the city to close its floodgates. earlier, london closed its gates. two people died in the uk and more than 100,000 are without power. economists say annual job is on its best year 2005. 100mber payroll grew by 85,000 workers and the unemployment rate fell to 7.2%.
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>> several celebrities have been sharing their reactions to nelson mandela's debt. they were born to teach a lesson in humanity. toson mandela showed us how love rather than hate. they were hearing from richard branson. has made tribute overnight. let's get some reaction from johannesburg. we can bring in a guest from there. we will bring in a professor of political science and currently the vice chancellor of the university of -- who joins us from johannesburg. thank you for joining us.
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thank you for giving us your time. the mood within the country right now. an important is moment. it is a time of mourning. for lifeelebration that has been magnificently lived. a life that was in service of the african continent and more importantly, in service of humanity. there appears that that they are singing. they are singing in appreciation for a life that was magnificently lived.
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>> he lived to a fine old age. would you say that reconciliation with in south africa is one of the ways that he is fondly remembered? >> i think that that is something that he is. i think the reconciliation initiatives absolutely gave south africa breathing room. buildeathing room democratic institutions. to build an independent judiciary. south africa has problems with inequality, corruption and other challenges. firmly society that is established. nelsonfrica holds mandela on internal debt. the international community should remember him for
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reconciliation. he is someone who is committed to democracy and is much more committed to a much more egalitarian and a much more equal economic world. he was particularly concerned .bout inequality he created an inclusive economy. remember to build a word that is democratic. also a world where we don't have starvation, we don't have the inequalities that we know today. >> thank you for joining us. thank you for joining us. >> let's talk russian smartphones. smart phone.
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this came out earlier this week. it cost 500 euros. on the face of it, it looks like a normal android phone. the screen right there, 720 p. what is unique is that you click through it. let's see if we can show it on the screen. let's say that you want to read a book, you flip on the application and press the button and on the other side it has -- ink -- e-ink, isn't it? >> yes. you can continue to resist ford
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days -- read this this for days and days. they are pretty impressed. >> they have talked to the ceo. >> let's bring him in. ryan will join this chat. thank you for joining us. >> good morning. >> ryan has been demonstrating this new phone. could haveou demonstrated it in a far better way but we will give some credit to ryan for achieving that. do you think that you can take on the likes of the other galaxy phones and the apple iphone? a matter of fact, we have created a new type of device. just because we have always on second screen back side of the phone. in addition to reading, but this can be not just for a newspaper. you can express yourself by
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putting different types of images are whatever you prefer. you can get notifications in a completely new way. the notification stay there as long as you need so you don't miss the important message. verydition, we introduced interesting software which converts the text messages into images. you have much more emotional images. this is much more than just reading. hows a completely new way the users interact with smartphones. making money aside, i still have to ask you what possessed you to do this because you had to know you're up against the likes of apple. russia is not known as a high- tech hub.
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there are investors that are hot on russian text but the general public would be a bit surprised. were you trying to prove something here? what is that about? >> first of all, we have a pretty cool idea, we believe. that is why we decided to go forward with a smartphone project. i think today in a global market, there is no nationality for any project. i am sure the apple project done by chinese, russians, americans, all kinds of engineers. the same for our company. we have manufacturing and cigna pour and we have strong russian software team which creates software for the products.
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i think this is a diverse global team. >> they are very important. system that really dual advantage of this screen capability. .> we already did quite well today is about 60. we also open the tools for the android community. we have a number of applications for the second which is always on display. one of the applications that brian just demonstrated was done by dashed we partner with different other brought by gay
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special maps solution where you can put your map on the backside and if you are running out of batteries, the maps will last longer. newill continue bringing applications because we believe that this is 80% or 90% of the success of our product and this is real value that we create. magically create for consumer applications. i know you just started selling it. this is a nice chunky phone. how are sales going? >> pretty good. yes, we launched it two days ago and we had about 10,000 pre- orders. we have a lot of demand from europe.
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we started sales for the online. the next quarter, we will add the uk. we are going to sell in more than 20 countries. being a small start up, we did not have the resources to approach and do a lot of sales. basically we talked to many carriers or retailers. were lucky enough because those distributors who bring our product right now to europe, they came to us and said, we love your product and we would like to bring this to consumers in this country. , are you quickly going to sell this in the u.s.? if not, why not? a few reasons. first of all it will take
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tremendous amount of time and resources for us as a relatively small company to deal with big giant carriers. and avery big pressure lot of resources. we decided to go a slightly different way. we want to keep focus and use our resources very carefully. the last thing, very important, this is the first generation. there was some down side of things would like to improve in the second generation. is for the people that are open for something new. think we need to go step-by- step rather than to go broadly in all countries. >> good luck to you as all.
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do come back to chat with us here on bloomberg. they have unveiled this new phone. if ryan chilcote can use, imagine who else. the world cup draw is a little later. they might find themselves in the group of joy or the group of death.
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thef these sports has run chances of england's chances. they're looking at various groups. this is the group of death and this depends on us being moved to a different group. >> there is a chance that england could be moved. either way, it does not make great reading. there is one thing, they have managed our expectations. we are not expected to win it. and, we're going to try win it. we are ranks 10th in the world and that that is about our level. >> if this group was to materialize, we would be the favorites to progress followed by hopping.
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some in the usa fancy their chances against us. , england had ago clear group. they lost to ghana. england finished second in that group and they play germany in the next round. you do want to finish top of your group. >> this is the england group of joy but we don't tend to do brilliantly in easy groups. we tend to do better in hard groups. >> in 2002, we had argentina, nigeria, and sweden and we came through it. last time it was an easy group. we struggled. one.erland is in they have played friendly matches against difficult sides and they get better rankings. thesed and italy played matches, they would get if you
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are rankings points. they are furious about where they are. >> there is a real group of death which does not involve england and you have been looking at the projections. this would be a killer group for all participants. >> a store >> the group of death, the teams that come out actually do very well. havee 15 tournaments we had, 12 of those have gone on to reach the finals. you can see from england's point of view that it is not so bad. you have to hit the ground running. by the time you hit the knockout stage, you are ready. tunisia is also important. south america, they're the first world cup in 36 years. >> this is something to take into account when it comes to him was chances, where we play.
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>> he is much more worried about wheree are drawn into and the games will be then our position. if you are drawn in a with play inengland will rio. if we play in the north of the country, they will kick off at 1 p.m. i'm a local time. it will be hot and humid and difficult for the players. >> we have a group for the romantic side. >> belgian has a new generation of players. ivory coast at the end of their golden generation. bosnia and herzegovina, they are the poorest country. it is there first world cup less than 20 years when they were formed as a country. in other words, group of joy or group of death. >> whatever happens, we will find a reason to worry. manager isp, england
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feeling optimistic.
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>> tributes are flowing in on the death of nelson mandela. .elcome back >> just over an hour away from the start of the european equities session. newspapers and media have been preparing for quite some time. they have removed the front cover. there's quite quite a lot of information about it. there was the headline of those. those that were enemies fell head over hills in love with
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him. that is the reality about nelson mandela. some people would talk about the fact that he became friends with his warders. >> he did in deed he had lunch with him. he refused to be belittled. he was not only stern but he handled it at the same time. during the roadshow in the 1990's when he was released from with very also spoke difficult people that were very anc at that time and he managed to get them on his side. some of them into government. >> he would go and have conversations.
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it was not a fight. >> did he appear in the foot bill world. football world cup? >> yes, it was very brief. what was interesting about the world cup was that we were very skeptical as whether south africa was going to be able to host it. we were waiting for them to announce. we are definitely going to be hosting the world cup, there is no way. he made the effort to arrive. am sure the changes the last minute when they saw him. >> a big draw, for clock today. can put out the favorites. the articles are a lot more balanced than the title might suggest that it is a strong ja
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drop. >> the england manager says emma put a bet on england. -- says to put a bet on england. >> "countdown" continues in the second hour.
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