Mckay and outs and Allison Williams of Bloomberg Intelligence. We begin with breaking news with shelby holiday where a delta jet skidded off the highway. Shelby, what is the latest . Shelby we just heard a runway here at laguardia will open anytime now. They said 2 00 p. M. The plane skidded off the runway while attempting to land. 127 passengers on board and five crew members. Injuries appear to be minor. Only two people help to have been transported to the hospital. They say the number could change. Also, authorities are not commenting on what caused the crash. They will secure the pain the plane. They have reported good braking conditions. They have had no problem. It is unclear what caused the accident. The faa shut down immediately after it happened. There are a ton of passengers. 72 of the flights out of laguardia are canceled today. This is not a fun place to be. People are just waiting to get out of here. Mark shelby joining us with the latest at the airport. Thank you. Lets get some of the top stories we are following on this thursday. In cyprus today, the European CentralBank President mario draghi says the central bank will begin its Bond Buying Program on monday. An effort to divert inflation. Mario draghi says the eurozone government must do more to fix its own economy. Structural reform is being implemented swiftly, credibly, and effectively. This will not only increase the future Sustainable Growth of the area, but also raise expectations of higher incomes and encourage firms to increase investments today, bringing forward the economic recovery. Mark six june since june they have offered longterm loans from banks. Economic growth targeted more than 15 years at the Peoples National congress premier league, 7 growth this year was called for it, down from simply 5 in 2014. Last year, china passes economy grew at the slowest pace in a quartercentury. The number of people filing for quarter for benefits the highest level in more than nine months. The harsh winter wet the harsh winter weather. Tomorrow, we will get the jobs report for february. The survey is looking for an increase of to a jet 45,000 nonfarm payroll jobs and an Unemployment Rate of five points is percent. Wrigley brothers elephant acts. The absolutely be phased out by 2018, citing growing public concern about the animals treatment. 43 elephants will live at the Company Passes 200 40 acre center in central florida. Elephant acts have been showcased by wrigley for more than a century. Now, the new York Federal Reserve is losing power in a behindthescenes reorganization. The wall street journal says a littleknown chlamydia is taking the job of overseeing banks like goldman sachs. The committee is headed by the fed governor. He tells the journal it was obvious that regulators had not done a good job before the crisis. That is a look at the top stories we are following this hour. Results of the bank passes and stress tests begin today. They were mandated by the doddfrank act of 2010. They look him in two stages. Today passes results will be on the impact of the tests. Joining me now is Michael Mckee of bloomberg news. And Allison Williams, Bloomberg Intelligence bank analyst. Thank you so much. It is the start of a twoday process. What are we in for . The fed looks at what will happen at the capital of various ranks. You have to be bailed out to see whether or not your capital ratios are hire enough to withstand the area. We find those results today. We find out next week that might not just be the level of capital. It may also be the feds comfort with internal control and how well banks prepared in the future. Mark do you mean worstcase scenario . The fed does several Different Levels of tests to see if they can hold on or whether losses will be such that they will be underwater if they went through the Great Recession again or even worse. Mark aside from a pass fail grade, what should banks be looking for today and tomorrow . Allison is when we have the possibility of getting big surprises. As you said, it is a twostep process. Today is the stress tests. Most banks passed last year. This might be the first year when all banks passed. Next week is really going to be the more deciding week for investors because that is when the fed approves or the technical language is either do not object or object with capital lands in the banks. Mark this is week, the fed chair janet yellen was in new york and she addressed the budget commission. She said before the financial crisis, the fed focused too much on regulating individual firms and did not pay enough attention in keeping the entire system stable. How are the stress tests stable . Michael the may 2009 is credited with stopping the libran brothers. Terms of the overhaul system, they are only part of it. They are used to keep track of various banks and how those banks or relate to other banks. That is one of the reasons they relate inside. Mark when you say the culture of the bank, what do you mean . Michael it is one thing janet yellen does talk about. Unnecessary risks, or are they more focused on prudent management of all their assets . It is a fine line for banks trying to take a profit and regulators going too far. Mark is the fed been looking for banks to be more proactive several years after the crisis . Allison i think what regulators want is first of all that the banks have enough capital for adverse scenarios, as we said. The second layer comes next week. First of all, what are you planning to do, and do you have enough capital to withstand the pressure but also, what are the processes that you have in place . That has really become the bigger question mark. Last year, the highest capital plan, even though it had a fair amount of capital and it fared very well in the stress tests, regulators really objected to the prophecies. That was citigroup last year. This year, i think that is a big question on investorsmines. Investors minds. Mark capital standards in the u. S. Subsidiaries. You might look there for any particular problems. Last year, it was city. People expect they have got their house in order now and also, zions bank they had an unusual situation with ceos is on the books. That hopefully has passed. The general feeling is most base can get through this. Mark as allison mentioned it was about the processes. U doing . What can we see tangibly . What steps are you taking to avert some sort of financial catastrophe . Michael the fed wants to make sure they know what the fed is expecting of them and that they require them to do their own test as well as the fed test so they are constantly thinking about what can go wrong. Mark allison, are some of these two big to manage or too big to supervise . Allison that has been a question on a lot of peoples mines. Janet yellen made the point specifically that they do want banks to get smaller. At the same time, we heard jpmorgan and their ceo defending the value of the diversified model and actually talking about other ways they can manage the capital standards without necessarily having to sell off the businesses. Mark the stress tests, is the fedss role one of prevention . Or is it putting a turning it on it after it happens . Michael before it happens, they want to prevent any problems. We go in and look for problems at of time. But the fire marshal on the beat . Michael there is a lot of pressure on them to be the cup on the beat. This is an intersection of the both. Allison one of the points Timothy Geithner makes is having sufficient amounts of capital is one of the best protections if not the best protection you could have that is what helps you protect the system. He was obviously part of the first round of stress tests that helps give confidence back in the system. Mark all right. Mike mckee, thank you both so much and we appreciate it. Next, a new ceo and a new outlook on food origins. A new era at mcdonalds . Julie hyman will have some answers when we continue in a moment. Mark mark welcome back. Lets get you some of the top stories we are following this hour. A knife attack required 80 stitches to close. Mark was waiting to give a speech when he was attacked by a man described as a north korean sympathizer. That man is in custody. He slashed at the face while demanding the u. S. And military exercises with south korea. Hillary clinton says she wants the public to see her email. A potential democratic president ial contender is urging the state department to release the messages she wrote from a private account when she was the secretary of state. She has been criticized for using private emails to conduct state department business. She says state authorities will review the emails for release soon. Cocacola is remaking the look of its biggest drinks in europe. The company is trying to convince consumers there is more to the brand ban its bestknown sugary drink. The new one Branch Design is intended to unify cocacola and its lower calorie variance under a single identity in 12 european countries. That is a look at the top stories we are following in this hour. I did not know there were that many. Changes to your chicken mcnuggets. Billy dolls ceo announced the company will work with its suppliers to stop selling chickens raised with human antibiotics. The bloomberg senior markets correspondent julie hyman joins us now. What will this mean for mcdonalds bottom line . Julie it is unclear. We know anecdotally the type of chicken raised this way is more expensive. It is not clear exactly how much more expensive. The folks at the National Chicken council say it is five to seven cents a pound, but we do not know exactly. Mcdonalds is not telling us at this point. It is not clear who will eat the cost if indeed there is an increased costs and will it be it seems somewhat unlikely. They are already not terribly happy with the company because of sliding sales. Or will it do customers, people who buy at mcdonalds. According to analysts, the does not seem to be a willingness and mcdonalds. Mark what else are they planning . Julie that is also unclear. There is a lot of speculation and a lot of talk about what he needs to do. He needs to move forward with Better Technology to the stores, mobile payment and mobile ordering, a better Loyalty Program for example perhaps at the stores as well. There has been a whole debate about the size of the menu at mcdonalds as well. That is one of the things franchisees have been upset about. There has been growing complexity and growing size in the menu. It makes it shaky and slows them down, etc. There is talk about whether he might pare it back or introduce more customization at mcdonalds as well. Mark julie, thank you so much to coming up, the worldss most powerful companies countries want to do with iran and its Nuclear Program at the end of the month. Is this another one of those shifting deadlines . We will take a look at that one we continue in a moment. Mark john kerry says serious gaps were made in Nuclear Talks with iran. Our bloomberg policy reporter joins me now in washington paired what was the purpose of the visit to saudi arabia today and what did he achieve, if anything . This was an opportunity for john kerry to meet with leaders as well as foreign minister is not only from saudi arabia but also the growth cooperation counter council. It was an opportunity for him to try to persuade all of these allies who were as worried as an Iranian Nuclear weapon, a potential for one, as the israelis or at least almost as worried. The saudis and others should not work themselves toward another type of program. That is the main idea. Mark you talked about what seems to be the start of an Unlikely Alliance between saudi arabia and israel. Both have issues with iran. Shiite, iran, the Islamic Republic, are viewed as a rival in the region. That is right. It dates back to a supposedly iranian plot to assassinate the saudi and acid or here in washington dc couple of years ago. There is no love lost between these two countries which see themselves as leaders of different branches of the muslim religion. The main issue here is not about that. It is really about the fear iran getting a nuclear weapon. Netanyahu speech to congress the israeli leader speech, on tuesday, really highlighted the dispute that the israelis have with the Obama Administration over the possibility of getting a reliable deal with iran and the saudis share some of the same concerns. Mark the Prime Minister netanyahus speech this week, what exactly is his dispute with the Obama Administration over iran and are the domestic policy the driving force here . Domestic policy is one element. We are less than two weeks ahead of the israeli election and this is a way for him to potentially score point. And make himself look good at home. On the other hand, i think he came with a genuine reason which is that he has a fundamental disagreement with the Obama Administration over how to prevent iran from any a nuclear weapon. The Obama Administration believes the best way to do that is to have a solid deal that would last for at least 10 years but hopefully longer that would include heavy verification and intrusive monitoring and wood for bid iran from doing you know, enriching uranium to the point that they could get a nuclear weapon. Net yahoo s issue is he does not believe any deal taken with this could be trusted. Although he said he could get a much tougher deal, in his heart of hearts, he does not believe any deal that the Islamic Republic science would be valid. Behind that, many people think there would need to be regime change is iran before any deal could be trusted. Although that is not the spoken issue, it is certainly one concern. Mark will we see a deal by the end of the month . There is supposed to be before the end of the month and a deal before the end of july, and we are certainly closer than we have ever been. It is not a hard deadline this month. But i think the iranians have come to realize if they have a chance of getting a deal, this is the one chance they have. It is not impossible. Mark another big story. Hillary clinton and the emails everyone is talking about. What i what is the latest on that . Huge. Hillary clinton last night we did she wants the public to see her emails that have been the cause of such controversy and that she has asked them to release them. We know the state department has 55,000 of emails hillary ades vetted themselves and said these are the only ones related to government business. They will have to go through and remove any sensitive and personal information and that could take months. The state Department Says they have asked for all documents related to Hillary Clintons services as secretary and all they have gotten is emails. There may be more coming. We will wait and see. Mark all right. Thank you. Coming up, Mario Draghis stimulus plan. The ecb is set to begin its Bond Buying Program next week we will take a look at whether it will successfully head off the threat of deflation. Stay with us. That story and more when bottom line and more on Bloomberg Television continues in a moment. Welcome back to the second half hour of bottom line on television. Thats get you some of the top stories we are following. Lets check the price of crude oil. The intraday chart shows crude down 1. 4 , trading at 50. 78. A Delta Airlines plane skidded off at laguardia. It carried 125 passengers and five crew members from atlanta. They were evacuated after the incident around 11 00 a. M. New york time. Early reports is that six people were injured, nonlifethreatening. The runway is now reopened. Pharmacyclics makes a blood Cancer Treatment that has been a true that has been approved for four different blood cancer uses. What would u. S. Business the like if Warren Buffett had become a journalist he talked about it in a video interview as part of a new iconic voices series at Arizona State university. A fly didnt do what i do, i would want to be a journalist. I consider myself a journalist to some extent. I assign myself a story. For someone who did not get to become a journalist, mr. Buffett has quite a consolation prize. Berkshire hathaway has more than a dozen newspapers. The Ecb Governing Council is committed to starting its first asset purchases next week. Welcome back to the bottom line. Good to see you again. The ecb president , mario draghi, discussed the extent to which the central bank may by Government Bond with negative yields. Policymakers did leave the rate at 2 10 of a percent today. What is your reaction to his remarks . I think the most surprising part of those remarks was how bullish he was in terms of their ability to solve the deflation problem and how the assumption was that all of this was going to work. Well, good luck. I suspect it has taken a lawful thats an awfully long time i suspect it has taken an awfully long time. I suspect we will be back again saying this will be going on for longer, will have to do more of it. They really dont know what the effects of these policies will be. A little late and it will be on for longer than you think. Did mr. Draghi have another viable alternative to bond buying . Did he take a page from the u. S. Federal reserve . The transcript came out yesterday and they revealed the sentiment seem to be as far as qe was concerned, go big or go home. I always thought sooner rather than later. So they failed that one. Bigger rather than smaller. Thats part of it. An