we want to make sure we is on europe -- we focus on europe. that will be enough to have the option to build a 10 billion plus revenue company. we do not have any plans currently to move over to the u.s. guy: is your biggest competitor in europe? do you think that story is going to change? icm is amazon pushing into the fashion space and other brands upping the digital presence. the u.s. is coming to you. mr. ritter: i think many people have understood that it is an interesting and fast growing business to sell fashion on the internet. our success has probably encouraged money to invest more in the space. at the same time, underlined by fast growth in the first quarter, i think we have been doing a good job to convince customers to shop with us. to be honest, our biggest competitor is everybody who is selling fashion. it is an extremely fragmented market. the biggest fashion companies only have small market shares. i think we are on a good track to continue to win market share in this competitive market. francine: you have managed some deals, i

prosperous, a europe that the veterans here set free. mine and other generations have since ve day enjoys the most peaceful period in europe's history. thank you. [applause] today, while remembering those who made the ultimate sacrifice all of us from all of the allied nations can still joyously agree with churchill. in all of our long histories, we have yet to see a greater day than ve day. alex: i think we would now like to hear from the band once more, please. thank you very much. while i organize my notes. thank you. ♪ ["stars and stripes forever" playing] [applause] alex: i would like to now come to our next speaker. secretary albright's deeply sorry that she could not be with us here today. instead, she has asked her sister, kathy silva, to deliver her remarks on her behalf. i would ask you to give a very warm welcome to kathy, please. [applause] kathy: i am very honored to be here today and to be able to convey my sister's most heartfelt feelings at this very important occasion. she is so disappointed she could not be here perso

these organizations you are talking about operate mainly in italy, greece, europe. when i was in libya, i didn't see any of them on the ground. because of the chaos of the country, because of the civil war and dangers for these rocker organization to his operate in countries like that. but, you know, you have to take the problem much further south in to the desert. i think the main -- if you want to stop this flow of migration of people risking their lives and crossing the sea and bringing with them their problems here to europe, you'll have to go to the south, to africa and try to stop that flow there. it's going to be extremely difficult for international organizations to do that. simply because the network of smuggling and trafficking are very shadowy, they rely on local militias, they rely on local war lords, and they operate in a terrain that they know very, very well. i think at this stage really the only way that you are going to be able to stop it in the long run would be to try to improve the quality of life and solve the problem in the home countries of th

. >> we came to libya to work here. >> not to get to europe? >> i can't speak for everyone here, but most of us came to libya to work. the policeman smiles when he hears this. that's just not true. if they were here legally, they'd have a stamp from the border. but they come through the desert illegally. it's organised crime. the eu has to cooperate with us. we libyans can't come to grips with it on our own. libya isn't only a stopover for migrants. it's also a destination. that makes the situation so complicated. men from niger work at misrata's steel plant. many have been coming for years, accepting the chaos in libya, islamic state and the risks. it's rarely better in their own countries. the country needs them. but sometimes too many come and then they don't get work. and when there's no work in libya, the temptation to set off for europe grows. mohammed clears up a bit. the steel plant isn't operational. there's no electricity. the political chaos in libya has brought the economy down with it. michaela: another african country with an aili

when you talk about europe, you need to do that and that. what is europe? melinda: we have seen a lot of eu criticism. you could even say eu bashing. is it a point -- isn't the point, we often need international action on migration? when the vietnamese boat people were fleeing, it was not left only to the region, there was a concerted international effort to solve the problem by taking in and dispersing refugees globally. shouldn't that be happening now? can it? will it? mr. mesghena: we need first of all european solidarity among each other. i think, if you look into the number of last year, it is four countries who will have the biggest portion of responsibility on refugee issues. we need solidarity within europe. we need to share -- not the burden, but the amount of refugees who arrived from africa is not that high. if you look at the burden which neighboring countries like jordan ethiopia, lebanon and pakistan -- all of these countries, really bear on the issue -- we are talking about 0.001 persons looking at the bigger amount of 51.5 million fleeing th

europe was either occupied or had been conquered, and every country in europe needed resources -- it needed to restock it needed food. and of course, it had to be reconstructed. we were the only country at had the real resources to spare for tt. and of course, you'd have to buy these sources with the dollar. schoumacher: so bretton woods provided a framework for the rebuilding of europe. and the united states played the key role in financingeurope's recovery. the marshall plan, created in 1947, gave millions of dollars to europe. this flow of dollars and goods was soon supplemented by loans and private investments from the united states. the american economy reaped immediate benefits from europe's rebuilding. as fast as the dollars were pumped overseas they floweback here to pay for american machinery and goods. in the decade following the war, europe importedbiio of dollars worth of products from the united states. but by theid-'50s, europeancomies were no longer so dependent upon american goods. by t 196 our paymen abroad for imports,nvestments and foreign aid had far exceeded our

today is victory in europe day. hostilities will and officially at one minute after midnight tonight. in the interest of saving lives, the cease-fire began yesterday to be signed all along the front, and our dear channel islands are also to be freed today. the german war is therefore over. after years of intense preparations the beginning of september, 1939. in pursuance of our guarantee to poland and an agreement with the french republic, great britain the british empire, and the commonwealth of nations declared war upon this foul aggression. after france had been struck down, we from this island and from our united empire maintain the struggle single-handed for a whole year until we were joined by the military might of soviet russia and later by the overwhelming power and resources of the united states of america. we may allow a brief rejoicing but let's not forget for a moment the toil and efforts that lie ahead. we must now devote our strength and resources to the completion of our task, at home and abroad. adva

do we want a europe that's whole? do we want a europe that's whole and free? do we want a europe at peace? a and we look at historical examples of when that may have been the case. so i think we do want a europe that's whole, free and at peace. and i think our policy is we do want a democratic ukraine and we do want the respects for international borders. the challenge is, how do you then clearly articulate it, and then what is the strategy linkage to the the policy. so if that's the policy, what are the methods and mechanisms that we're going to use to then continue to advance that, and i think that gets to your point, sir, reference, how do you prevent the spillover and how do we encourage a democratic ukraine that then becomes stable in a prospering member? that's probably where your answer is, and once that linkage is correct, then we can probably have a clearly articulated policy towards those three areas. >> europe. yeah, it's our -- and that was our second consideration. it came actually from the western europe and the eastern european countries as well

let's examine an inactive theater like europe first. the war department has given the commanding general that the inner his new troop strength and has made no to him the numbers and types of units which are now surplus. these will be units of various types like armored divisions artillery battalions, infantry divisions, ordnance companies or other unit as the case may be. let us take the infantry as an example and assume there are four infantry divisions in the theater and one has become surplus. the theater commander will bring them in according to priority credits course. select the top four and designate these men. you will ensure all of the men in the surplus vision who are not surplus. then transfer all the surplus men into the surplus division which will serve as a vehicle for returning them to the united states. remember military necessity governs this transfer. that means no man in a unit can become surplus until a qualified replacement is available. if military necessity should entail the immediate transfer to the pacific, ther

migration from the north african coast into southern europe. is there proposals to assist in the relief of the effort, or to assist the countries there? and then another part of the aor, a couple weeks ago, you had the incident with the reconnaissance plane that was buzzed by a russian fighter. do you have app update on that? do you have other information about what happened there? have you got a suitable response from the russians? >> okay. let's talk to ucomm and migrants first. so, yes, there is a problem of flow of myigrants across from the north african continent into multiple european command allied nations along the mediterranean. probably the most demonstrative into italy. italy, for instance had an operation which addressed this issue for a while, and then handed that operation off to the e.u., who may be a little better suited because they are an all of government sort of organization where it was the italian navy dealing with it before. right now, the involvement that we have in the u.s. is helping them understand the situation on th

anchor: similar scenes in asia and europe. tonight, the president of burundi is back in his country one day after attempted coup. he said, i am in burundi. i congratulate the police and the military for their patriotism and the citizens for their patients, but the situation is more tense than that suggests, with fighting continuing between his supporters and those who want him out. we have the latest from burundi. you may find the parts of this report distressing. reporter: the day began with more fighting, people running for their lives. soldiers tried to seize control of the state broadcaster. on the streets, few dared to venture out. >> every time you listen to guns, everywhere guns. we don't know what is happening. i found somebody in the road. then we barricaded because we don't know what is going to happen. we cannot get news. reporter: we made our way to the national television center. we witnessed the ferocity of the fighting. at least five soldiers were killed. supporters of the attempted coup. loyalists said that 60

these roads lead west to atlantic europe east to central europe north to great britain and south to the mediterranean world. most crucial of all, strasbourg sits on the rhine river between two of europe's strongest historical rivals-- france and germany. strasbourg really occupies a very special kind of position. of course, it's bounced back and forth a bit between german and french influence and, in fact 500 or 600 years ago it was really falling within the influence of the german empire. and then as the french empire was expanding and in conflict with the german empire along the rhine it came under french influence. the franco-prussian war in the 1870s, however, was partly driven by german efforts to expand to the west bank of the rhine-- that's where strasbourg sits. so it became formally a part of germany at that time. and then in the 20th century it's fallen back under french control. those original cultural and linguistic ties with germany are still there, so you have a dialect that is a germanic dialect but it's now, of course, formally a part of france. and this particular and s

we see things happening all over eastern europe. i think i will leave it there. >> general, thank you for being here. i am going to asking a question not directly in your approval you mentioned former sliders. we heard at the pentagon there are as many foreign as indigenous, given all of that we are also hearing today that the u.s. naval ships will begin

when it comes to europe of course we could take in lots of migrants without suffering. germany needs about 5,000 migrants every year just to remain stable to have a stable working force because so many baby boomers now retire that we do not have enough employees anymore. so 500,000 is a lot and even with all those refugees that we had to take in, still we do not reach this limit. so we could really invest in a way in migrants. but we don't do that. but not for economic reasons. people always think it's something about sharing their wealth but that's complete nonsense. this cultural fear is irrational. that you somehow lose your germanness or whatever. but i mean that's the pact. >> maybe it's irrational but i think you can't teach society there and say to the politician look, you have all these silly fears. they are completely unfounded and that's why we'll settle i don't know how many migrants next to your door. if you do that you create social right riots. it has the bear limits to what you can do even if you know you should do it because of economic or humanitarian r

the moves across europe -- the mood across europe is not as bright as it used to be. this is the more european story. there is concern that we are not seeing that much big growth. the mood we are seeing green shoots of recovery, but it is still very fragile. dame julius: they are a bit fixated about what is going to happen to greece. they are a heavily-export oriented economy and china is slowing. they are in a gloat -- growth trajectory, but a slow growth trajectory. francine: what do you worry about the most? are we becoming japan? dame julius: no. i suppose these things could happen. but this fixation with the zero is a bit excessive. this country is not in a deflationary mode. i think we will see low inflation for a few more months as has been predicted, but once the index features dropout, once the oil price decrease drops out of the index, we will see inflation come back toward something normal. i think the fact that underlying inflation is also reasonably low is something to keep an eye on. francine: at least it takes off the pressure from the bank of england t

and europe in a really difficult position. do you ignore it and risk these pipes getting bigger or do you try to incorporate these pipes into the system? that is a fundamental issue going on with the realignment of the global economy that goes way beyond europe. >> this discussion will continue mohamed because it appears that greece is making the payment it is due make to the imf on tuesday but as we discussed, greece doesn't have the money for the final payments if they don't get the final tranche of the payments it's due from europe. thank you mohamed. that is the program for today, >>> in the british elections nothing the pollsters predicted happened. the conservatives, led by david cameron, have a majority in the new parliament. the labor party lost not by a whisker, but by 100 seats. the u.k. independence party got a lot of votes, but one seat, and the scots got a landslide to a party that wants out of the u.k. with big questions, is this a kingdom divided.

. >> we will deliver that inner referendum on our future in europe. as we conduct this vital work, we must ensure that we bring our country together. as i said in the small hours of this morning we will govern as a party of one nation, one united kingdom. >> with that commitment to one nation, cameron is squaring up against scottish nationalists, the other big winners in this election. the s&p took nearly all the seats in scotland. there's already talk about their pushing for another referendum on independence. >> clearly there's an opportunity for change in scotland and a strong desire or the voice to be heard much more loudly. >> the victory came at the expense of the labour party which also lost out in the rest of the u.k.. party leader ed miliband has now resigned. >> britain needs a labour party that can be built after this defeat so we can have a government that stands up for working people again. now it's time for someone else to take the leadership of this party. >> two other leaders have also quit -- nick cragg of the liberal democrats who wa

a strong rally across europe this morning. ftse 100 up by 1.5%. the cac 40 up by 1.9%, the dax up by 200 points. a rally in the bond market as well. germany lower by seven basis points. a euro a weaker euro one point 1167 -- 1.1167. over the last two years, a quick calculation, the euro weaker by 2.45%. the worst two days since march 2011. the rally in the equity markets and the bond market. front loading qe in may and june. a lot to talk about. ♪ jon: good morning and welcome back. 45 minutes into the session. let's lift the lid on the index and get you the top stock movers. caroline: the biggest gainer today is dtclp. it seems that this company seems to have fingers in every single pie. it has a bit of gas, tech health care as well. an irish company hiring 10,000 people. continuing operating profit. managing to boost profitability despite revenue being down. thank you very much indeed to the investor base. very significant profit growth to come but they are sending shares higher, up on most 10% on the back of m&a. they are making acquisitions

a europe that the veterans here set free. mine and other generations have since ve day enjoyed the most peaceful period in europe's history. [ applause ] thank you. today, while remembering those who made the ultimate sacrifice all of us from all of the allied nations can still joyously agree with churchill. in all our long histories, we have yet to see a greater day than ve day. i think we would now like to hear from the brand once more, please. thank you very much. while i organize my notes. thank you. ♪ ♪ ♪ ♪ ♪ ♪ [ applause ] >> i would like to now come to our next speaker secretary albright is deeply sorry that she could not be with us here today. i stead she's asked her sister, kathy silva, to deliver her remarks on her behalf. i would ask you to give a very warm welcome to kathy, please. [ applause ] >> thank you. i'm very honored to be here today and to be able to convey my sister's most heartfelt feelings at this very important occasion. she is so disappointed that she couldn't be here personally and share

when they arrive in europe yes, they're happy. it's still a very uncertain future as to how their lives were unfold. >>> austria's is asked for a eu quote yent to accommodate the refugees. so far this year almost 1800 people have died crossing the mediterranean, at least those are the ones we know about. an estimated 40,000 have made the dangerous journey since january, and officials expect the total number of arrivals for 2015 to top 200,000 in italy alone. let's talk to the southern europe spokeswoman for the unhcr. she's joining us via skype from rome. i was interested to hear you say that we need measures that might offer a safer way for refugees to get to europe. how would that work in your opinion? >> the fact that at least 50% of those coming to europe crossing the mediterranean arriving to greece 50% at least of them are refugees. people coming from syria, people coming from somalia, they would in my case have received a refugee status once in europe. so unchr is proposed 12 actions very specific and concrete. some of them

the high living standard in europe causes soil depletion elsewhere. hubert weiger: the basic message here is that we have to preserve land, not just as a means of subsistence, but also maintain it. we have to put an end to the worldwide destruction of farmland in the interests of our own survival. >> the consequences of that destruction are easy enough to see. dry, cracked and barren soil: when the ground suffers, the plants, people and animals which depend upon it suffer too. soil is one of nature's most complex ecosystems, containing a plethora of different organisms, all interacting together to make life possible. that ecosystem is now under threat the world over. all over the world, farmers with fields on hillsides have to struggle with water erosion. they clear trees to gain space to plant crops and graze livestock. but with the tree roots gone, there's nothing to keep the rain from washing the topsoil away, the most fertile layer. this process is already far advanced on myanmar's inle lake. the farmers on the hillside above are losing arable lan

the companies in europe exporting to the u.s. we returned a bit more constructive on the european domestic story. without the currency had to have the biggest bond move. i think this will be some sort of range. it is partly also telling you that european growth is better. turning around the other way, we saw the urine -- if we saw the european bond yield crashing through parity, that would not be helpful. anna: thank you very much for joining us. guy: right. a quick update on where we are trading. this rather aggressive move is taking place. yesterday morning, it started and then fizzled a little bit. today, we have carried on. we were up 18 basis points and we are up 15% now. we will take a break and see you in a moment. ♪ anna: welcome back to "the pulse." guy: let's bring the conversation back to greece. we have been discussing what has been going on in the country. a deal remains elusive. the nation and its creditors continue to haggle. according to officials, the european will consider tightening bank access to emergency l

we look at 43 countries in europe. we go to russia, turkey, and investors like the diversity of situations. marc: compensate some of the disappointments that may be emerging and provide for more growth and also uncertainty. they finally at last like europe for what it is, a safe haven. caroline: they have kind of fallen out of favor for that reason. marc: china has fallen out. central and eastern europe, including russia have gone up 8%. north america has also come back from a tough spot a few years ago from the crisis. caroline: russia is fascinating. marc: long-term bets, on the fact that it will probably get better. they will solve the geopolitical obstacles it is facing. probably some investors including chinese companies and european companies not circumventing the sanctions, but making sure they can still do business in russia. the long-term, as is a critical economy for us. caroline: the u.k. is sort of the number one spot when it comes to the eu. what about concerns of an eu exit, we have david cameron trying t

you can find more on that story at bloomberg.com/europe. don't forget the europe. manus: jump onto twitter with both of us. i'm @manuscranny. this is a bloomberg.com story which actually talks about the valuation of u.s. equities. q theory -- he he is given an instruction and goes into defiance mode. you take all the stocks in the usa and you sell them. to take the money and you go to replace all the capital and you should be left with money left over. but q theory says he would be left with money left over -- they say the stocks are therefore approximately 10% overvalued, one of the highest valuations that we have seen. mark: not everyone believes in the q theory, but has come back into vogue because of the s&p hitting an all-time high. coming up, we will speak to the -- a day after the finance minister told us it is not at risk of a downgrade. manus: then more on our interview with russia's richest man and how he made billions on the rubles decline. mark: the uk's biggest software company tells us the u.k. is resilient with or without the eu. you will want to sti

basically southern europe. that's for the rescue operations about, it comes to resettle think of these migrants, it is northern europe that carries the brunt on that. most of the migrants i spoke to last year who are disembarking in sicily and even the ones i met in libya a short while ago always say that they want to go to northern europe because that's where there are job opportunities and that's where they are the best social programs too help them reset and start a new life. >> is there any sign that the terrible loss of life that the horrifying suffering of this refugees, are making its way back? that the news is making it's a way back to senegal eritrea syria, so that fewer people might be setting out in those boats because they know what awaits them? >> reporter: i was in libya a few weeks ago just at the time where those about 800 people had drowned in the mediterranean and i kept on asking migrants there about the dangers of crossing the sea and a lot of them had told me they didn't care. that what hap

we want the battle of europe. but the war, the global war would not be one until we had exterminated japanese military power. the japanese at pearl harbor. -- and malaysia. if japan committed to 100 years of war and sacrifice, if necessary. check it we are prepared to lose 10 million lives in our war with america. >> eight japan committed to world domination. a japan whose home front is united behind the enemy war effort. [cheering] now, together with our allies, we could contemplate putting power against this treacherous enemy and read the war primarily of this menace. we can do this it every american in or out of uniform keep in the front of their minds, the plane site that we would not have won this war nor can we enjoy any peace, until japan is completely crushed. >> two down and one to go! [gong] >> to defeat japan as quickly as we can permanently, we must now assemble, readjust, and streamline our world forces in order to apply the maximum power. in striking this last great blow w, we will need all of our mi

reichel to come back and europe has been lagging. europe typically lags. they have the euro zone crisis, which is far more acute. what you have seen this year is better growthf earningsons, better expectations, qe, and better market performance. we see management teams start to stick their heads out of the hand and say, this is a deal where you are rewarded or punished. it looks like the chinese are ucent, nokia,-- l and the french finance minister basically blessed that deal. that's an important transformation. scarlet: an important point to make it. what about the euro and the exchange rate? in european m&a, this transnational m&a, we are to see european companies as targets as opposed to acquire or's? troy: both. you will see intro europe consolidation. it makes them a very rich target, again, back to fedex. you can't ignore the regulatory kind of support that is taking place. managers have been focused on a tiny bank consolidation for 10 years. it's a very fragmented banking system. they have recently will asked those roles and allowed for consolidatio

coming up, 4:00 in the afternoon in europe. the closing from bell. this is the bloomberg market day. i'm betty. we go.e wit a close to another trading day. scarlet, bring in josh. we have the bloomberg news and editor,omberg stocks mike. atlet's just quickly look where we are, about to close here, because just as we've gotten into the last few moments, you can see here, we've down here, guys. /10 of 1%.0, off by 2/s maybe everyone is just sort of their books out before the weekend. >> well, you don't want to be weekend, whenlong something could happen in greece. >> that makes sense. 20% less thant average for the day. and really, the big mover of the was qwest diagnos diagnosis. newstells you how little there was today. >> and how trigger-happy investors are. >> reminds me of -- i hate to say anything reminds me of 2007, day, whenn the scarlet was training me how to day it terminal, every was sperks. didn't matter how bogus the rumor was. you somethingls about a bull market that's this old. slowing.s in that extent, it is similar to love to talkeople

europe's land needs can be calculated using the land footprint. it shows the area necessary to maintain the current standard of living. only some forty percent lies inside europe itself. the rest is spread around the world. so europe needs more land per head to satisfy its own consumer demand than any other continent. this leaves the land outside of europe unavailable for use in the countries were it is located. the high living standard in europe causes soil depletion elsewhere. hubert weiger: the basic message here is that we have to preserve land, not just as a means of subsistence, but also maintain it. we have to put an end to the worldwide destruction of farmland in the interests of our own survival. >> the consequences of that destruction are easy enough to see. dry, cracked and barren soil: when the ground suffers, the plants, people and animals which depend upon it suffer too. soil is one of nature's most complex ecosystems, containing a plethora of different organisms, all interacting together to make life possible. that ecosystem is now

he passionately defended europe in his acceptance speech. mr. schultz: stop blaming brussels for all the things that go wrong, all the unresolved problem, while pinning every success to your nation. >> schultz is a passionate politician not afraid of speaking his mind. he recently called on eu member states to take on more responsibility in dealing with the refugee crisis in the mediterranean. mr. schultz: the decision on whether to make progress will be made in brussels, but only geographically speaking. it will not be made in brussels institutions, but in berlin, rome, london, and madrid. >> german president yorkie and out and french president -- joachim gauck and french president francois hollande were present. the german president used the occasion to call for a swift solution to the refugee crisis. >> if europe cannot find a common resolution on how to handle the influx of refugees national governments must take a leading role. this is about saving lives. >> the refugee crisis is just one of the issues facing europe and the new charlemagne

do we want a europe that's whole? do we want a europe that's whole and free? do we want a europe that's whole and at peace? we looked at kind of historical examples of when that might have been the case. so i think we do want a europe that's whole, free and at peace, and i think our policy is that we do want a democratic ukraine and that we do want the respect for international borders. the challenge is how do you then clearly articulate it, and then what is the strategy linkage to the policy? so if that's the policy, what are the methods and mechanisms that we're going to use to then continue to advance that? and i think that gets to your point, sir. how do you prevent the spillover and how do we encourage a democratic ukraine that then becomes stable and a prospering member? that's probably where your answer is. and once that linkage is correct then we'd probably have a clearly articulated policy toward those three areas. >> europe. [laughter] yeah, it's -- and that was our second consideration. it came, actually, from the western europe and the eastern euro

we prefer to be in europe than in africa. there is a big difference. in africa and europe. i've been watching the tele,when you get to europe, they will be working with you. >> they have seen little more than shelter. they have a choice. go home with nothing or try to return to libya. and risk their lives again to reach a new continent. al jazeera, southern tunisia. >> now to nepal where the death toll stands at to more than 7300. aid groups say they're groups say they're >> aid is reloaded on aircraft like this. >> the major problem is not every victim lives near an airport. >> we've had a commitment from the government that the challenges that we experience in the early days of the crisis that resulted in limited access to the commodities coming out of the airport and getting out to the communities that those problems we're resolving. >> the disaster zone is huge. the majority of victims live in small, isolated areas. many unreachable by road. this is why local aid organizations are playing a crucial role in the relief effort. ngos working around the clock and in the sack

and damaged the economy in europe. sorting out the decision making process in europe is one of the key things are members want. they also want a widening and deepening of the single market. i was in brussels a few weeks ago and the commission was telling me -- i actually got three notifications a day, 1008 year, of regulations cutting across the free movement and the free movement of services in europe have not even started out. jonathan: a lot of red tape discuss. -- red tape to discuss. a lot of debate around talent acquisition. john: we think the matter needs to be settled. there is no question that businesses need access to labor and the best talent. for the growth of the u.k. economy, that has been the case. in terms of keeping a stable country for economic growth, social code he's in, there are 500,000 under-25 employed in u.k., all of those things require a new relation based on settlement and immigration. perhaps a point system. the eu could decide to allow the u.k. to do that. third countries could be applied

we know that some countries in europe have done a lot like germany, for example. some others might do more. some countries will start to increase their settlement quotas like italy, for example, for the first time. we think more is needed because, first of all, we want to bring these people out, to pull these people out of the hands of the smugglers. >>> this is coming up after the break. police in texas investigate the background of two men shot dead after opening fire outside a far right conference. >>> israel's prime minister visits a black israeli soldier whose beating by police brought angry protests because of alleged racism. >>> austria's chancellor says there should be an eu-wide quota to accommodate people reaching europe's southern shores. nearly 86,800 have been rescued. >>> rescuers in nepal find more and more bodies as they reach areas cut off by last month's earthquake. in one village 100 people were buried by an avalanche. >>> the u.n. called on the saudi-led coalition to stop bombing yemen's arment. saudi arabia is considered a suspension of air st

the problem is fundamental structural flaws in europe. i'm more concerned about what is going on admittedly, france, spain -- in italy, france, spain. mario draghi is a hero as far as i'm concerned. mark: stay with us for more on that interview. manus: first, let's get into the breaking numbers. caroline has the numbers. caroline: 13.5 billion danish krone. creeping higher than before. organic and operating profit up 46% because the russian ruble is doing much better. compared to this time last year, the russian ruble was down 15% but on quarter terms, it has been increasing and up some 13%. it is western europe and asia that is doing the heavy lifting at the moment. it is offsetting the weakness and russia. we are seeing a bit of an upturn in terms of the ruble but it is a country that is trying to restrict sales of beer by limiting sales in kiosks. manus: the actual market share in russia has gained -- caroline: if you're looking for a glass half-full comment, that would be it. this is their biggest market. they are the number one playe

the gulf, europe, or america? tweet us. francine: up next, how will "downtown abbey" help itv's revenue surge? ♪ francine: welcome back to "the pulse." now telefonica has reported earnings this morning. they beat analysts on the top and bottom line. let's go to madrid. how did telefonica perform in spain? rodrigo: ok in spain. there are two different reads. their read and the read some people are the street are hearing here. the other read is that their financial numbers in spain do not yet reflect that growth. while thye arey are better than other quarters, they are not as good as many were expecting. guy: what about the rest of that business? how did that do? rodrigo: pretty ok, especially brazil. germany reported last week. we saw especially in brazil, we thought increase in average revenue per user which is a measure used in the telco industry. it shows telefonica's strategy to offer higher-level products may be working. francine: profit seem to the overestimated. what is that down to, low estimates? rodrigo: they did

damien: hello, and welcome to "focus on europe." i'm damien mcguinness. thanks very much for joining us. on today's program -- in scotland, a nuclear fleet may need a new home. in italy, migrant children looking for a better life. and in denmark, the mink that's breaking free. this month, ceremonies at various former nazi concentration camps are commemorating the 70th anniversary of liberation by allied forces. the murder of millions of european jews is arguably the most shameful episode in europe's history, particularly because it's a crime which wasn't committed only by german nazis, but also by europeans from all over the continent. the experience of france is particularly complicated. jews were not only persecuted in the part of france occupied by the nazis, but also in the unoccupied regions run by the french vichy government. but one small village quietly disobeyed. practically all the local people there hid jews, and so saved their lives. >> for pascaline magnard, the past still lives in the present. her memories of this village in france are good,

he just wants a better deal for europe. what are the debates going to be like, for example of germany will be unlikely to give concessions. >> we have certain principles within the european union and many of my colleagues are very reluctant to start over again and again and again to renegotiate with the u.k. on these principles because the are impression in germany as germany being part of the european union, and for example, we have right now--we're talking about immigration. germany is by far the largest country giving shelter to refugees from from the near east and the u.k. didn't helping on that issue at all. it is a difficult discussion in germany because the people in germany don't really understand. >> good to get your point of view. thank you so much for joining us on al jazeera. >> thank you. >> still to come on the program ambassadors from norway and the philippines. a helicopter carrying dignitaries crashes in pakistan. >>> also details of an eight-year-old child found in a suit case in spain. and in sport the ba

europe is our biggest trading partner. the businesses i am involved in it's important to make it as easy as possible to trade with them. francine: all right. with two days to go, those are some interesting thoughts. let's get back to the next. ubs shares are soaring. they beat expectations. guy: for more, we are joined by james. good morning. what's the top line? what is the take away here? the market seems to done reasonably well. guest: they are notable among all european banks for the magnitude of the loan loss provisions a have made to multiply since the crisis began almost reaching 10%. historically speaking, that is the average loan loss rate you would expect a banking system to suffer in total. it may be slightly worse this time. you are looking at a bank that in many respects has done the balance sheet and crystallized losses. the great benefit to that is quarter after quarter they suddenly drop away to reveal all that underlying profit. francine: does this mean to the troubles are behind it? is there more to come?

day in europe. look for more coverage of ve day on american history tv, and you'll find video at www.c-span.org/history. we will take you to london for the commemoration. president obama comments this morning on the 70th anniversary. president obama: today marks a historic anniversary, 70 years since the victory in europe during world war ii. on ve day, people swarmed the streets of london and paris and moscow in the cloud of fear that had hung for so many years lifted. at home, from small towns to times square, crowds gathered in celebration, seeing in dancing with joy. it would be three more months of deadly fighting in the pacific but for a few hours, the world rejoiced in the hope of peace. general eisenhower announced the news with low fanfare. the mission of this allied force was fulfilled. the simple message like the extraordinary nature of the big and staggering human loss. over five years, brutal fighting laid waste to an entire continent. mothers, fathers children were murdered in concentr

should come out of europe. how easy is this going to be for cameron to negotiate some sort of concessions that is going to satisfy all those people who are in the u.k. who actually don't believe that the u.k. should be part of the e.u.? it's going to a tough one. >> he's playing a tricky game. he's balancing two groups of people with different ideas. he's put himself in a position where he could potentially really disappoint people. they're going play very hard ball with him. it will be difficult to change the treaties, and he'll get minor concessions that he'll portray as big concessions. but there is fear that ale disappoint the electorate and possibly sleep walking into a yes vote in the referendum. >> which is not something that he wants. i wonder if he would have been better off in a coalition with the liberal democrats where he argues i'm in a coalition the liberal democrats say they don't want a referendum. i'm joining a government with them, and therefore i can get out of this. but now this is a manifes

stay in europe. we would like to be sure the votes will be tomorrow, i mean, the con strings of europe, and we stay with the u.k. of course. francine: when you look around london there's so many french people. there's a real brain drain from the people that have left france to come here because taxes are better, because the business environment is better. how much would france benefit if we had a government here that was a little bit less internationally friendly? pierre: i'm not sure i understand your question very well, but i will try to understand. the climate in france is improving a lot, so i think that more and more and frogively, what the business people need in france is competitive business on one side and trust on the other side. so i think as you know, the government put in place what we call the responsibility which will have an impact on decreasing the tax burden on the french companies of 40 billion euros before 2017. we are in the process of doing that. so now what we are looking for t

we have a second issue which is one of the consequences of qe in europe, but only in europe we are seeing it. why do we need to have such low rates to foster the recovery of the economy, and why do we make the choice of having the economy recover at the cost of long-term savings? we think it is sustainable for a short while. we think it is sustainable if it goes alongside significant structural reforms. long-term, it would be a mistake to foster policies where you only have very low rates without reforms. it leads to a very poor allocation of the long-term savings. it could create bubbles because people are going to look for yield and very strange places. and it would not be good for the sustainability of this recovery. caroline: many thanks for being with bloomberg tv this morning. live with the axa ceo from paris for the climate finance day. back to you. guy: great interview. thank you very much indeed. up next, we are going to speak exclusively to ukrainian finance minister natalie jaresko. see you in a moment. ♪ guy: welcome back. you are watching "the pulse." dealmaking in spain ha

but what about europe? of course the big story this year has been the out performance of european equities versus u.s. equities. that continues to be the case here on the last day of may but as we are look at the indexes in today's trade sharply lower. the xetra dax coming off the low of the day. still down triple digits. the cac 40 trading down. the italian markets basically holding on to the flat line at 23,000 732. the underperformer in these four indexes year to date is the ftse 100. the index only up about 7% so far this year where as the ftse mib up better than 24%. so big moves in europe but of course a fixed income market has been a point of worry, concern if you will for investors given the sell off that we saw just a couple of weeks back. in the past week we have been seeing stabilization in yields. 2.13%. a sharp contrast to the month of april. u.s. treasury bonds strengthened driven by a strong auction that sent the yield to its lowest level in more than three weeks but you know what experts say

and for intelligence agencies in europe for intelligence agencies in the united states, for those who are concerned about security, this is a big issue. >> the program is compass with sheila macvicar. thanks. >>> next week on "america tonight" the slow step back of u.s. forces from afghanistan and away from the afghans who stood by them. "america tonight's" sheila macvicar on how the americans from the u.s. mission now find themselves abandoned. that's next week on "america tonight". just because i'm away from my desk doesn't mean i'm not working. comcast business understands that. their wifi isn't just fast near the router. it's fast in the break room. fast in the conference room. fast in tom's office. fast in other tom's office. fast in the foyer [pronounced foy-yer] or is it foyer [pronounced foy-yay]? fast in the hallway. i feel like i've been here before. switch now and get the fastest wifi everywhere. comcast business. built for business. >> even in the seat of america's power, washington, d.c poverty is a long standing problem on any given night thousands are in shermts many li