studio: let's talk about the french presidential election. the french presidential candidate emmanuel macron has held discussions with theresa may, saying after the meeting that he would like uk banks and workers to move to france after brexit. mr macron, who according to latest polling is the frontrunner for this year's presidential election, said he was in london to address some of the 200,000 french voters in the capital who make london france's sixth largest city. he spoke to reporters after meeting the prime minister. he has said that "brexit" will give france opportunity to boost the financial sector. i want iwant banks, i want banks, tenants, researchers, academies, and so on. i think that france and the eu are very attractive now, a very attractive space. in my programme will make everything i can to make it attractive and successful, you very much. with me now is florentin collomp, who is the london correspondent for the french newspaper le figaro. interesting character, very pro—european, macron, here's a centrist, but also indepe

what you have to understand is how the french political system, especially the french electoral system, works. imagine that marine le pen can percent. that is an extreme scenario. in the second round, you need to mobilize. you need to assemble around your president. she will not be able to do that. 40% is probably the glass ceiling she is going to reach. anyone facing her is probably likely to get around 60% in the second round. francine: this is the second round. my concern and a concern for the politicians is that the two people who are front runners to the bloomberg terminal. these are not polls. you look at the top three candidates. you have francois fillon and white. in january, he is at 60%, and now he is at 29%. you have marine le pen steadily rising. and then you have macron. what happens if she faces francois fillon, who could be considered a very flawed candidate? it would not be unprecedented. jacque chirac faced a similar situation in 2002 when he faced le pen, the father. what is going to happen is that fillon is going to have to be extremely clever, politically speaking.

, greeting the background to the french revolution, since we buy playing this role of -- of the french aristocracy were head up and heels -- head over heels. they were singing songs in favor of america and liberty. franklin played that role, he would show up at the court of versailles, which was the most protocol written court in all of europe, and he would show up in a plane that encode with no sword, none of the dress you are supposed to wear at first i -- at the court of versailles. it would be like showing up in front of queen elizabeth, today in dungarees and a t-shirt. the french aristocrats loved it, they celebrated it, and he played his role to perfection, and i think he was able to keep the french going, not just with their armies, but of course more importantly was the money. they loaned america enormous amounts of money. franklin came late to the revolution. he really wanted to hold the empire together. he spent most of his adult life in england, itself and his son became a notorious loyalist. franklin comes very late and i think the burden -- if the british aristocrats had

a soft french cuisine is cuisine. he says 80% of what makes something interesting, what makes a dish interesting is the sauce. anchor: you need good sauce. this year, there was only one new three-star restaurant, but there were plenty more one and two star prizes to go around. as a source of regional pride. quite sufficient to look at the regional press, you can see they are quite proud of their stars. on the front page of many of these regional papers, there are chefs today. region, then the chef got a second star, one of 15 chefs in the region. in the south, boasting two extra stars for the basque country. this chef kept his star, quite a hard thing to do. this oneaawawawawkçkw announcer: 2007, and little samba kuli bali is on his way to make medical history. he's one of the first children to take part in a trial for a new vaccine against deadly meningitis. marie: many countrtries in sub saharan africa have called for these vaccines because of this dreadful and devastating disease which is called epidemic meningiti

this is not just a french thinking of visiting france. this is notjust a french problem. these kind of attacks are popping up across continental europe. with some degree of regularity. this is a vindication for the security measures, but another shock for a country that has suffered grievously over the last to years. some news from bristol, avon fire and rescue say they are dealing with a chemical incident in a chemistry lab. it is a p pa re ntly incident in a chemistry lab. it is apparently part of bristol university. they say there is an u nsta ble university. they say there is an unstable chemical in the lab. unable to tell us what it is. they have fire engines at the scene. bristol university press office has said the building has been evacuated. acknowledging an unstable substance was being manufactured. more news coming in about southern railway. suffering so many problems. for the commuters using that, and the passengers. months of delays and cancellations. we heard there had been a deal to end the dispute between southern railway and one of the unions over driver

they went and lost against the french last year and lost the title. it is an important year because it is a cup year for them. the women's petition is so competitive that we cannot get ahead of ourselves. we will prepare as best we can and take ourselves to twickenham and put in a performance that we will want to do to get victory. from there on with a look ahead to the rest of the competition and it will come around soon enough, no doubt. that's tomorow evening, a 7.35 kick—off. already underway at the broadwood stadium in north lanarkshire is scotland against ireland. scotland lost all their matches last year. ireland finished third. ireland have struck back, it is 7—5. wales women are in italy for their match tomorrow. highlights of all the women's six nations matches are on sunday on bbc2 at 10:45pm in the evening and an hour later for viewers in northern ireland. check your listings because they do change wherever you go. we have had both england and france training here this morning. that'sjust both england and france training here this morn

the french presidential candidate emmanuel marcon also thinks somebody is spreading lies about him. but unlike donald trump, he is pointing the finger at russia. [chanting] reporter: they are shouting so loudly, the chant could possibly be heard in russia. bit by bit, emmanuel macron is gathering momentum. he has seen another boost in the latest opinion surveys. and as the kremlin critic continues to win favor with voters, his conservative opponent seems to be suffering amidst a financial scandal. but the russian media has a different take on macron. outlets have simultaneously accused him of leading a double life. they allege he is a homosexual and is bankrolled by a wealthy gay lobby. according to his team, it is a two-pronged attack. the media campaign came at the same time his team suffered a series of cyber attacks. which they say hindered his campaign. computers belonging to macron have been hit 4000 times in the last month alone. >> if we cannot communicate at all, it is a day wasted on the campaign trail for us. reporter: candidate françois fillon is pushing to end the sanc

french government creating the background to the french revolution simply by creating this role that the french aristocracy fell head over heels. they were caught up in radical chic. they were singing songs in favor of america and liberty. this was in the 1780s without any awareness of the future consequences of this and franklin played that role. he would show up at the court of versailles which is the most protocol ridden court in all of europe and he would show up in a plain linen coat with no sword, none of the dress that you're supposed to wear at versailles. it would be showing up like today at the court of saint james in front of queen elizabeth in dungarees and a t-shirt. that would be the kind of thing that -- but the french aristocrats loved it. they just celebrated. and he played his role to perfection. and i think was able to bring the french -- kept the french going, not just with their army but, of course, more important was the money. they loaned america enormous amounts of money. franklin -- but the interesting thing is franklin came late to the revolution. he really

governments and with the french government and french family having such a big shareholder —— shareholding in the company they start in pole position. he will be trying to say we have an industrial strategy, aiming for the best access for the car industry, or the assurances he gave to nissan so successfully, whether we will have as much success with the german and french axis remains to be seen. len mccluskey, the leader of the unite union today and asked them what assurances he got and he said he didn't get any and they had only really spoken to general motors and if they are selling, it is not their decision. the balls are in the courts of the acquiring company, peugeot citroen and the french and 6erman industries will fight bitterly to preserve jobs 6erman industries will fight bitterly to preservejobs in 6erman industries will fight bitterly to preserve jobs in their respective areas. 6reg clark will be outnumbered, there are two plants in the uk, 22 in the combined group in continental europe so he has a big job on his hands. many thanks. 100,000 million million miles away and scienti

globalisation is now the great dividing line in french politics, seen as dividing line in french politics, seen as stealing or delivering france's future. translation: we sell to china even though our accordions are taxed at 35%, because they want to protect their market. i say yes to globalisation, because we have to compensate for shrinking sales in france, and a fall in buying power and competency. farmers here say that politicians like their countryside traditional, but want the benefits of globalisation to. marine le pen's chance of victory is still slim, but for some, the m essa g es still slim, but for some, the messages are lowering dash that europe is the problem, and france's model doesn't need to change. david balli is named the —— david —— mac david bowie is named the star of the year. prince charles has chosen his bride. the prince proposed to lady diana spencer three weeks ago. she accepted, she says, without hesitation. as revolutions go, this had its fair share of bullets. a climax in the night outside the gates of mr marcos's sanctuary, malacanang, the name itself

we have a big section when it comes to french elections. how would you deal with donald trump, in terms of what he can do to the economy? lorenzo: what he has been promising in terms of macro policies is relatively good for the world economy. a bit more spending, tax cuts. we have to see, from a budgetary point of view, how he is going to be able to finance this. on the other hand, on the trade side, that is much more concerning, i would say. so i think we just have to wait and see. in any case, we are still in a world flooded with liquidity, with savings. i am surprised that long-term rates have started to come down after an initial freeze, in fed rate increase. we are still in a world of severe glut. francine: is the fed following the markets too much? i want to bring you over to my wirp function. we see the odds of a rate hike in arch have increased. there were 36% last wednesday. now, they are at 50%. if you are a central bank, if you wait for those odds to be at 80% because you do not want to scupper them -- is a good for a central ban

will be the second former french president to face trial. nicolas sarkozy will have to answer to judges in the so-called pig malia in case. he is accused of illegally funding his 2012 presidential campaign. french investigators say that a public relations firm allegedly issued fake pills to sarkozy's party -- fake bills in order to hide the fact that his campaign had exceeded the limit on spending. investigation revealed that 18 million euros worth of fake bills were issued, bringing sarkozy's campaign financing to nearly 50 million euros, twice the legal limit. acknowledgeave knowledge existence of fraud and false accounting and one of sarkozy's party members resigned in may 2014. one of the magistrates in charge of the case says sarkozy did not heed warnings from his accountants about spending too much, but sarkozy has denied being aware of the alleged financial fraud. name alongearned the come after the presidential campaign. >> the trial will focus on whether or not sarkozy was aware of the fake invoices and whether or not he played a ha

give the french revolution a little bit of a break and his discourses are written early in the french revolution, he was skeptical, but he said that the real problem was the national assembly in france was unwilling to admit any kind of role of the few, even though he said, in fact, they were the few, that if they were an assembly, they were representatives, they were select and he says, they stated everything aristocratic in their culture. does this mean they're going to wipe away all records of the glorious deeds of the national assembly? he didn't think they would. later, much later, i have to add one thing to this, i think a very funny remark and i did close my book with it. he wrote to benjamin rush and he said, have i not been engaged in mischief all of my life? have i not brought on the american revolution, which led to the french revolution? and then he adds, but i meant well. [laughte [laughter] >> so-- >> that's great. luke, anything you want to add about the french revolution? but i'll add this question, what might adam think about how political campaigns are funded? >> i'l

more from her interview on french tv, still to come. this is bloomberg. ♪ matt: welcome back to the european market open. i am matt miller in berlin. i johnson in london. markets in across the board after rallies to all new highs in the u.s. and big, strong gains in asia prompted by donald trump's top tax reform. reform, of tax o switzerland's future as an attractive base for companies hangs in the balance. swiss voters will decide whether to accept or reject a government plan to replace the special tax brea, multinational companies enjoyed. a yes vote would bring and tax cuts -- tax break multinational companies enjoy. a yes vote would bring tax cuts. is the chiefw economist at a bank. still with us in london is bnp ' steven saywell. it is complicated, but tom he -- tell mevote means what a yes vote means this weekend. >> a yes vote first would mean that switzerland again complies with e.u. rules that they do not have to complain against, so that would be a positive thing. yessecond thing is that a vote would mean lower taxes for all

it was also a moment of identity politics, primarily, the french identity. this ends, perhaps, that france, in her eyes, is besieged by the forces of globalisation, free trade, islam and islamic fundamentalism, besieged by foreign speculators, by the european union. this was a speech saying that things are going to change in france if she ta kes are going to change in france if she takes power. it has to be said, that it is unlikely, highly unlikely, that she will take power. because if she gets through the first round, which is quite likely, she will struggle in the second round to gain a majority of the french people. her voice, her message, clearly resonates with a significant number of people who believe that the parties of the right and the left, the consensus between them, has somehow left a number of french people out. but it certainly does not convince the majority of french people, not at the moment and not u nless people, not at the moment and not unless something fundamental changes in the next few months. how are the problems faced by francois fi

french carmaker says profits assumed 37% last year, but uncertainty over the french election looms. the chief executive spoke with bloomberg about what a possible french exit from the eu could mean for business. carlos: it is something possible but something riches with a probability which is very low, but still possible. low within the contingency plan for the moment, but obviously, if this is the case, we will have to reshuffle completely our industrial strategy. records ben kaiser has agreed to buy baby formula maker [indiscernible] 16.6 billion dollars in cash, wait way for the british consumer products company to jumpstart sales and increase presence in asia. -- boosting the stake in the paris of fame park, they are .uying a 9% stake in the park back is disney 86% and it wants to buy the rest . julie: timeout for our bloomberg quick take. with some u.s. business is talking about immigration, they picture people they would like to bring in, those with science, math or computer skills. president trump is considering overhauling the visa program used by tech companies to hire thou

one of the books he wrote was the histories of the french revolution. one that i found to be an interesting element of the critique is where he is admiring the way that the french revolutionaries were tearing down the different distinctions in society, all the different ways that the clergy ha have ben set apart and distinguished from the rest of the citizenry and adams has a provocative thought isn't it the case when you tear down the distinctions in society you leave one standing that will inevitably stand which is wealth so isn't this the case that there will still be something like a natural aristocracy as well even after you've taken all of the honor of the offices of government class i found to be provocativthat tobe provocativen because it seems to correspond to some of the populist energy today which would take all of the honor out of the public service and put strict term limits on the number of terms into the duration of the offices in a way to denigrate the honor of the public office and make the officeholders legislators as opposed to true p

that is the french far right candidate party. the party spokesman has confirmed there has been a headquarters. the will bring you details as soon as we get them. this is bloomberg. ♪ mark: live from london, this is the european close. six minutes until the end of the monday session. time for the bloomberg business flash -- a look at some of the biggest business stories in the news right now. let's get over to taylor riggs. taylor: ther -- saudi's have pumped about 10 million barrels a day and production has been cut back. to reduce clutter by january 1. the head of the tsa is looking for the vauxhall brands. psa makes peugeot. promised to honor the existing labor contract and keep investing in its german factories for another three years. that is your bloomberg business flash. at wheree a look european equities are headed to day in 10-- the ninth -- that's the run up by a quarter of 1%. small gains for the ftse given unilever is such a decline are. 40 dax is higher, the cac barely changed. have a look at the currency board as w

this was a mistake and i apologise profoundly to the french people. he has apologised to the french people and also said the salary he paid to his wife was justified and ruled out reimbursing you money. a key part of this story is that in 2007, penelope fillon gave an interview to the daily telegraph — in which she said "i have never been actually his assistant or anything like that. i don't deal with his communication." mr fillon was asked about that interview today. here's what he said. translation: when she made that statement, it was picked up by a programme which knowingly took bits ofa programme which knowingly took bits of a sentence out of context. it was in english and for an english audience, and the focus of the interview was that i would not be tony blair. the journalist got in touch with my wife to tell her how shocked she was at the use of those bits of that interview. the journalist who did the interview, though, tweeted this: @kimwillsher1 "no, mr fillon! envoye special did not take the statements out of context. it didn't shock me."

her french father picks her up , and her german mother returns to baden-wurttemberg. it's a 150 kilometer trip for a very short visit. >> it's awful for her. she's just got her mother back and then, when the two hours are up, she has to say goodbye again. she has to pack up her things, and then she doesn't have a mother for another two weeks. >> it's been this way for five years. britta schlotcke is only permitted one visit every other week, and only in france. the doctor can't take elina home with her even though she has custody in germany. she finds it almost unbearable. >> i don't have any pictures on the walls anymore because i can't take it. >> how did it come to this? britta met luc when she was in her early 30's. four years later, they became parents, but they separated when elina was just one and luc returned to his homeland. elina commuted between france and germany, attending daycares in both countries. it didn't take long for problems to arise. but instead of trying to solve them together, luc sought help from a controversial self-help group for french fath

french centric. geisel was as high as 60% in the french market a couple of years ago, so they clearly are very exposed to diesel. the transitions for a lecture vocation, more importantly, just the gas engines in the near term is one which everyone is confronting. guy: is it a big problem for companies that have been exposed in france very briefly because of the high penetration rate? george: it is arguably may be a bigger challenge. they would have invested more in diesel historically given that that is where the european market was up until around two years ago. that being said, france, in particular, psa, they fit the technology which essentially is the clean technology that volkswagen did not have. guy: george, thank you very much indeed. george galliers, matt and i will continue on radio. "surveillance" next. this is bloomberg. ♪ to wait. unwise janet yellen says the fed does not need to wait for a stimulus plan to raise rates. treasury yields, the dollar, and stocks climbed. strengthening the

>> we're selling french government bonds. we're buying areas far away from europe. things like australia and maybe countries like korea that don't have that headline risk, that big cliff risk attached to them. >> john taylor, global portfolio manager. and are the organizers of the oscars living in "la la land." don't want to miss it. >> "la la land." >> you kick this off and we were standing on your shoulders. you lost, by the way. >> no, sorry. there's a mistake. "moonlig "moonlight," you won best peckture. >> this is not a joke. "moonlight" has won best picture. "moonlight" best picture. >>> welcome back everybody. you're still watching "street signs." "moonlight" has won the oscar for best picture. it wasn't without controversy as warren beatty mistakenly announced "la la land" as the winner. >> "la la land." >> reporter: for several minutes it appears a best picture win had capped ed ped a magical sevr win for "la la land." during the acceptance speeches, they realized presenters had had read from the wrong card. >> this is not a joke. "moonlight" has won best p

the french interior ministry talking about a serious public security incident, french soldier opened fire after reports that he was attacked by a man armed with a knife, also reports that a man with a suitcase try to get into the louvre and so the soldier opened fire, the man described as seriously injured after those events unfolded. right now there is a large security presence outside the louvre and people have been evacuated from the area, so we are going to keep you right up to date with what is happening there. let's get the weather with nick. there is a fair amount of dry, sunny weather out there at the moment but thatis weather out there at the moment but that is not the case in south—west england and eventually wales. true to the middle of the day because we have got rain moving in, some of the heavy side, the wind picking up as well. north and east of that we will hold onto the dry, occasionally sunny weather well into the afternoon but eventually the rain pushes to south—west scotland at the east of northern ireland. a cold feeling day, not just east of northern ireland

he also needs to get the french people on his side. various different polls have come out saying that two thirds of french people want him to step out of the race and no longer run for president. .t is all very well he has the rest of the french public to persuade, too. tom: thank you very much indeed for that. we will of course be hearing more from claire this afternoon as she covers the event with francois fillon speaking, at about 4:00 p.m. paris time. in other news, it a police officer in a paris suburb has been charged with the rape of a young man who was left severely injured by the shocking incident, which has sparked. in the area. riot police had to be deployed. catherine viette tells us more. catherine: in this amateur video shot thursday night by an eyewitness, four police officers can bebeeen beating up a youngng man with a truncheon. the man was accused of injuring a 22 and-year-old -- a 22-year-old in the video. residents pointed out bloodstains at the site of the attack. >> there are traces of his blood. here on the back,

>> top global financial firms meet about the french far right's plan for a euro exit. brexit battle. torys hit back after austria eas -- austria's chancellor says the u.k. has a $50 billion euro -- has a 50 billion euro bill to settle. and we break down numbers with the c.f.o. at 7:00 a.m. anna: i'm anna edwards. it's 6:00 here in london. 7:00 if you're watching in paris or berlin right now. let's dig into the basf numbers, the german chemicals business. adjusted earnings before interest an tax 1.18 billion. that against an estimate of 1.16 billion, in line or a touch ahead of that estimate. q-4 sales coming in above the estimate of 14.1 billion. they're proposing a dividend of three euros per share. they say 2017 will be slightly higher. the estimate has been 7.24 billion for that number. we'll get more details as we go through the earnings release. we'll be speaking to management of basf. lots to talk about with chemicals an the agriculture business. let's also get to some other things coming up in the show. the french defense business is reporting numbers, they're r

the french banks, too. the french banks are bucking the trend to the down side. not seeing gains. you'll notes likes of bnp paribas lower. full-year revenues rose by 1% despite a lackluster market in 2016. net income was up by 15% from the previous year at 7.7 billion euros. the french bank proposed a dividend of 2.70 euros per share. let's get the details on this nancy joins us from paris. investors trading bnp paribas down substantially. what are they focusing on? >> the big factor sis on the fourth quarter income figure which fell shy of expectations. as other analysts point out at ubs, on an underlying basis this was a beat. part of the strength in the net income coming from the corporate and institutional banking segment. this apart from the retail segment which continued to show weakness both on revenues declining right here in france and also at the italian unit as well. perhaps investors were hoping to see the retail business pick up a bigger share, boosting domestic markets which has been trailing the performance on the cib for quite some time now. nevertheless, performan

we'll talk more about the french elections. so by all means get your questions and comments through on france or anything. so it's on @twitter louisa europe. let's push on. shares in electroux -- an upfront cash payment of $115 million. their digital focus and direct to consumer business model. it is expected to be closed during the first quarter of 2017. . the first major german customer is suing volkswagen for reported $12 million euros for misrepresenting a legal and from regulato regulators, this case is marking the faster first brought on in its home market. coming up on "street signs." we'll be hearing from the original co sponsor on trump's plan to quote lift the burden on banks. that and more coming up on "street signs. >>> slightly different press conference to remember. saturday night live takes aim at the pres secretary sean spicer. we'll be covering that and more on "street signs." gh♪ h ♪ ho!o! itite h♪ghgh h♪ rk♪ y,up m gors anslfrsaof y,up m gors did you know slow internet can actually hold your busines

globalisation is now the great dividing line in french politics. it is seen as stealing or delivering france's future. translation: we sell to china, even though our accordions are taxed at 35% because they want to protect their market. i say yes to globalisation because we had to compensate for shrinking sales in france. and the fall in buying power and confidence here. farmers here say politicians like their countryside traditional but want the benefits of globalisation, too. marine le pen's chance of victory is still slim but to some her message is alluring, that europe is the problem, and france's model does not need to change. france is not the only european country holding elections this year. in september germany goes to the polls. and this man, martin schulz, former president of the eu parliament, has emerged as a real challenger to angela merkel. look at this tweet from foreign policy calling him the folksy martin schultz. —— schulz. we have been finding out more about him. carnival season in an election year. time, perhaps, for someth

. >> live now to the campaign headquarters of francois fillon who will be addressing the french people amid allegations funds. ed francois: ladies and gentlemen, i am speaking to you and all french citizens because a legit mate sentiment has pushed me to do so. i understand the questions i will be asked. i understand the need for clarification and i will do so. i will do so because i have nothing to hide. i will do so because i cannot accept the accusations, the baseless accusations that have been targeted at me after 32 years of political life. 32 years without any judicial problem. 32 years of irreproachable, ethical behavior. i would like to tell all my

a french shoulder shoots a machete wielding man near the entrance to the louvre museum in paris. and the families forced to flee fighting in eastern ukraine. violence makes life unbearable as the simmering conflict between ukrainian forces and pro russian separatists boils over. it's good to have you with us. the migration crisis is back at the top of europe's agenda. europe and union leaders meeting in malta have agreed on a plan to reduce the number of migrants crossing the mediterranean sea from libya. the eu will support libya's coast guard and step up efforts to disrupt the people smuggling rats. >> united we stand. that is the slogan the eu council president promoted ahead of the summit. regarding the migrant crisis e.u. leaders showed unity bypassing a 10-point program to stem the flow of refugees to europe. >> we'll train, quip, and support the libyan coast guard to stop people smugglers and increase search-and-rescue operations. we will deliver economic assistance to local communities in libya to improve the situation. >> the deathly route across the central mediterranea

we have been focusing on the french election, with marine le pen up french election, with marine le pen up there. we have girt welders in holland, and the german man doing well. immigration underpins all of these mini and —— opinion polls. you're watching 100 days from bbc news. still to come for viewers on the bbc news channel and bbc world news — who is hr mcmaster? we'll be speaking to a close friend of the lieutenant general and donald trump's new national security adviser — to get a personal view. that's still to come on 100 days, from bbc news. good evening. it is turning out to bea good evening. it is turning out to be a week of two seasons. we started the week in spring in the south—east of the country. we finished the week in winter. there will be some snow and temperatures will struggle to get up above 5 degrees. in between, a spell of stormy weather. tonight, a spell of stormy weather. tonight, a windy night in store. the weather is clear of our shores, between us and iceland. it will be whipping on winds, sending a weather front southwards towards the central swath

it makes the french at -- it makes the french election very different from donald trump's election and the brexit. there is some probability but in that marine le pen goodwin and that could actually mean that if gosee the spread significantly wider from here there could be an opportunity. guy: your theory is that people will misinterpret the first round when marine le pen is likely to do very well. a big bread widening at that point. going into the mechanics of the second round, it becomes harder for her. or maybe just before the first round. i think that is when you want to look and see where the spread is and that could present an opportunity. guy: you want to be long in, short out. how wide will it get to the run up? guest: that is difficult to say. it depends on what information how theut of france and polls show. it could go significantly wider than it is or stay where it is. it comes down to politics. is not theolitics only thing we need to be watching here in europe. the economic data has been picking up. is that focused on the core? we see strong numbers even out in the periphe

this is spread between french and german 10 year. this is not price in a political risk at a very time where fillon is weakened, honey price that end to what happens with the euro -- how do you price that in to what happens with the euro? thatu can make an argument she will assist with that, i think the market is myopic in its view at the moment, trading is very choppy. looking beyond the next week and month or so, is tricky. we had the dutch elections in march and the french elections coming up, as we come into that one month bucket of fx options, the market will -- it should mean the euro coming under pressure. francine: thank you very much. later today, michael mckee in san francisco with a conversation with john williams. they will be talking productivity and unemployment, look for that at 1:30 p.m. in new york. this is bloomberg. ♪ ♪ capitol hill and washington, d.c. where the trump administration is getting to work and we will talk more about financial rate -- the regulation -- deregulation. the first social media to go pub

french chocolate makers say today is the same as a business that are day. a big difference is the united states where sweet treats account from a half of all spending on valentine's day. , the average spender is 100 $40, a lot more than i am spending. genie: me too. maybe france has more chocolate across the board. thank you for that to look at the business. time for press review. ♪ we are second to look at the papers. >> lots of focus on the united states for the resignation of whom michael flynn. flynn.ichael the washington post had the school last week and reporter that flynn had discussed economic sanctions with russian authorities before trump's inauguration. they say what is remarkable about the whole flynn saw the is how routine -- saga is how routine it is pretty it proves for the most on orthodox of president, it seems like old rules of russian politics still apply. genie godula some -- genie: some papers are reacting to north korea's missile launch. >> papers are calling it a missile crisis by candlelight or open air situation dining room. you c

french authorities are treating it as a terror attack. the is responsible for the security all the museum was attacked. it was all the museum was attacked. it was a terrorist in nature. npower announces a dual fuel price rise of almost 10%. the government says customers are already paying more than they need to. president trump warns iran it's "playing with fire" over its ballistic missile test launch. iran says it will never initiate a war. in the next hour — vegetable rationing. some supermarkets restrict the number of iceberg lettuces and broccoli you can buy, as bad weather in spain causes shortages. and it's all water under the bridge: operators at tadcaster‘s bridge re—opens, more than a year after it collapsed in the floods of christmas 2015. good afternoon and welcome to bbc news. a french soldier has shot and seriously wounded a man who attacked guards at the louvre museum in paris. a police spokesman said the man — who was wielding a machete — had shouted "god is greatest" in arabic. the french prime minister said it a

i am french in france, i am german in germany. total is a french major. i public-private company, for sure, but i'm international and i should recognize that. if total is truly a global company is because i've been able to build this in the past years on the french base. we have to assume responsibility for that. of totalt was the ceo speaking to our editor-in-chief john micklethwait. the netherlands goes to the polls on march 16. the freedom party is riding high in the polls. joining us from amsterdam to talk more about the political events ahead in the netherlands is the head of survey research at central data. thank you for coming to talk to us. give us the latest data you have on the heights that could be reached in the vote coming up in march. ,> what we see right now together with the liberal party, they are ahead in the polls. we have our own poll, we have the panel, we have a special scientific quality panel, and in what isel we ask people your intention to go for voting? because not everybody is going to vote. and we asked people to give us an in

french farmers traditionally voting with the right. your country is facing huge of people either way. is that a firm statement? guest: there is a rise of populism that you can see. veryusinesses, we are global business who operate across all markets. 85 markets across all regions. strong results globally growing 4%. seven in america, three europe, three asia. there are ups and downs everywhere from this point of view. as long as you are a global business, a large-scale business, you are flexible enough, you can adapt fairly easily to situations. anna: you are a business that is watching the political events unfold. you must be very mindful of how to protect yourself if you're going to see a president of france who wants to take the country out of the euro. the eu does not look good under marine le pen in france. how do you protect yourself? you take actual steps? guest: we are a global business. we export throughout the whole world. as people will keep on developing their taste for premium spirits. that is a given. adapt to the environ

the french election, there is the spread of the french 10 year which has widened to a four-year high, expressing concerns about the likelihood of marine le pen winning. simon french think that will happen. simon: i do. 33% andability is up to i would probably double that in my own estimates, the reason being marine le pen, well-being right of center in terms of her views on immigration and international issues, very much left of center in terms of her domestic agenda. i believe the socialists will not make it into the second round. i think we see parallels with the bernie sanders block who did not go to hillary clinton but went to donald trump. there is a job to be done by the alternative right media by whoever makes it through into the second round, do we get another wave of fake news, russian involvement? i think the market is far too complacent. bill: i would like a quarter, whatever it is you are smoking that you think marine le pen will win. it is great to think, we have had the shocks of brexit and trump, therefore the same thing will happen in france. no, it is not. the french

the french forces, because the french have a very high boarburden through terrorit activity in their home ground. so we have shoulder that and it shows we are ready to embark on a new course. >> the next question comes from the front row here. do we have a microphone? what question to you is can i do to protect our democratic processes from fake and false news? are you worried about the important elections we face this year in europe? well, whether we can actually do that before the elections, i do not know. but obviously, we ought to be vigilant. you areknows well what talking about. you have had that experience. in the civil area, we have initiated and adopted a new cyber strategy. defense minister has theblished a domain within ministry that deals only with cyber activity. russia,now that actually, is very much actively considers is also this hybrid warfare to be part of its legitimate policy. i think it would be good if, in the framework of the russia-nato council, this could be put in the agenda. we have very new possibilities here. you can deal a blow to critical infrastructure

ou are seeing an old looking french lady. she is kind of bent over, looking almost as if she is shuffling forward. she is being passed by this young, vigorous, straight standing man who is striving forward. it is a composition of opposites. you can look at this and say the results of -- see the results of our years of war and the confidence and the optimism of the american soldiers. if you want to go even further, this could be the old one meeting the new world. world war i marked a change in the american status in the world as a power. i wanted to end her i started -- where i started which is with the same artist. which is bill aylward. this is an american cross and a soldier morning a loss of a comrade in arms. but i found out after i started working here for a while was that there were records from world war ii. thought i would find my father's unit. he would -- he was in the army air force. there were a lot of records about the army air force. it turns out that the way the air force kept records was that every single miss

regarding french interests, because we are polarized on our french national interest, euro is of course still over evaluated, especially regarding germany and we are suffering from a lack of compatibility regarding this distortion in monetary value. francine: let's get back to mark, the global chief executive -- investment officer. he is on his trip to russia in joins us from our moscow bureau chief. risk? you view the russia we touched a little globally, the effect vladimir putin could if wen europe, especially have the threat of marine le pen there. think that russia, with the devaluation in the currency that it saw, they have taken a lot of hard knocks and with inflation falling and the chance of potential ratings upgrades and things, russia looks relatively interesting and the kerry on the ruble is still very strong. we would point to the underlying economics. obviously, mr. putin is able to to his world stage have much larger impact than the economics of russia alone might lead you to believe. francine: what are the other areas -- one of the other areas is equities. you are talking

and is the inventor of the french language. but if they think the destiny is israel but the next project to add something to contribute and by demonstrating again but i completely understand that he thinks he has to contribute to that. [applause] >> this is day comment and not a question but i take to heart about the unthinking june -- jew because i did not think a person who brought bernard-henri levy to the temple and without her would not be sitting up here thrilling as with his intellect and like to publicly thank linda for making this happen. [applause] >> the key very much for pointing out the seven defaces i have been a passionate interfaith activist 30 years and i feel that is my responsibility as a jew idol think i could be a jew. so working with people from many different faith so what comes up from jew to look fancy how we behave and then people have spent totally honest even though they recognize those same people gave them there first job. >> so the question is the name of your book is "the genius of judaism". >> d

those french have air rabs living with them and yet the french don't really think of them as french. anybody who's been in america for three or four generations is ut early american. we do not have an ethnicity. we became a nation in 1776 and thus in order to know who we are, we need to know who these founders are. the united states was founded on a set of beliefs and not on -- as other nations were on a common language or common religion. to be american is to -- is to believe in something, not to be someone. you have to -- that set of beliefs is what came out of the revolution. not only did the revolution, i think it's by far the most important event in our history bar none, not only did it legally create the united states and make us a nation, but infused into our culture, our highest aspirations, our noblest ideals, the well-being of ordinary people. it's these aspirations, these ideals that hold us together and make us a single people. since we're not a nation in any traditional sense of the term, in order to establish our nationhood we have to reinforce and refresh periodically

i am on my own without my parents, but thanks to french society, i have a french mother who is white and i go to school. imagine if this had happened to you. >> he says none of the refugees should ever be sent back because the dangers they face are too great and the people of his region will not back down. >> let's get more on this case. our correspondent is standing by with the latest rum nice. we understand this sentence is lighter than the eighth month prison term that prosecutors had asked for. why is it lighter? >> it goes back to a law that only a few years ago came into force which basically grants immunity to those people who act on a humanitarian basis and who do not seek monetary benefits from helping migrants, and that was applied here in this case and on other charges there was not enough evidence, so put it in a nutshell, a slap on the wrist for the farmer. sarah: meantime, he has vowed to carry on as before. what would that mean? >> absolutely. throughout the trial, he has said if he would be sentenced to serve time in prison, he would come back and help these people. h

so you see french yields on the french presidential elections. we think the french elections are the crux here. the question is how far le pen gets, how much support she gets in the first round and who is the second candidate. >> how do we position ourselves heading into this risk? >> we have been underweight europe. we have an overweight on the u.s. and emerging markets. we continue to hold that and think the euro will go to 1.01 ahead of the elections. if the core case is realized that we don't have le pen coming into power, the euro rebounds. >> you think euro is where we will see most of the reaction and political risk story painted out? >> for the moment we're seeing it in the bond market, in part because it's such an asymmetric profile, you have the down side. so people look at that as a cheap protection. clearly there is the euro because the questions come back very much a tail risk in our view, but the questions come back to the unity of the eurozone, especially in the case of le pen coming into power. so we're going to see a correction t

anna: let's go with the french banking sector. societe generale, coming in above the estimate of 315 million. the other big strategic announcement in the headlines, the plan for an ipo of its car leasing business. the numbers coming in ahead of estimates. and carting -- including the sale of a croatian unit. record low interest rates. tougher capital rules. ofaging to make the most improvements in the french consumer banking business that they operate. iny plan to offer shares their auto leasing division this year. we will be bringing you further comments from our conversation with the deputy ceo throughout the day. worked that coming up shortly. manus: we just had a red headline on commerzbank. ,his will be good news fourth-quarter net income, the market had penciled in 173. ,his is the buffer of capital 12.3%. provisions for loan losses coming in at 290 million. beating on the net income. this is a company aiming to cover its cost income ratio to 66% in 2020. move. their on zÜrich, full-year comes in, let me just double checked