Are standingorters by across the world, ready to deliver the stories that will drive your day. We are following astrazeneca as pfizer gets ready to make its bid. We have details on buyers talks with marks. Jonathan ferro has a look ahead to the u. S. Jobs report. Have details on meyer talks with merck. The importance of we spoke us was a plea to the South African finance minister and he spoke about the importance of entrepreneurship. We need to increase the support, mentor in, incubation of onchip ownership and small businesses. Ownership andrial small businesses. We have to increase the scale at which it is happening in order to make your games. Fendi opened its flagship londons bond street. We caught up with the chief executive of the italian Luxury Fashion house about what the store means for the brand. This is for us a major brand statement. We are very happy about this opening and i think that fendi as luxury in london, one of the coolest cities in the world. The launch of the new bond street store. We will be bringing you more with the conversation in this onkends 30 minute special the luxury company. That is insight fendi. Raise its bidto four astrazeneca to more than 100 billion. After zeneca stock hit a high yesterday. We have been looking into the details. Is this going to seal the deal . Will it bring astrazeneca to the negotiating table . Pounds, 106. They rejected the first one. This will not be the final set of terms, there would be some more negotiations. Just think of the mastery of dealmaking. 24 hours, hitting the city, the square mile. Those are the two key drivers. That matters because a lot of shareholders are dual shareholders, arent they . Absolutely. Shareholders,jor those are the boys and girls that get that over the line. If you get that done, you have a better chance of getting that over the line. Blackrock, wellington, they own over 20 of the company. It is about getting momentum. The chairman defended the original backing away from the on stock. E valuation we understand there would be more cash on the steel and that the offer will be raised. Will there still be obstacles in place. What are they . Parliament. The parliament of public opinion. Building was to speak to pfizer. How do want to do business. He has a bit of form, he has. He is not prepared to commit. That is on jobs. That is going to be the critical issue. And rmb as well. A lot of business is taking place outside of the u. K. A lot is done outside of the u. K. Is this. , theat deal of pr and mna senators that we will bring. When these guys actually bought in 2009. They shed nearly 5 billion of r and d. The reality of it is that the spentition is that pfizer threeillion, they brought ack buster drugs worth billion dollars. The proposition is this, pfizer dues these deals but in doing these deals, they ripped out the heart of r and d. They destroyed the possibility of new drugs finds. That is not my opinion. They want to stay independent and develop these drugs which will come to the market later this decade. That is their proposition at the moment. Which blew myline mind is that Institution Shareholders were quite impressed that a ceo got on a plane and lobbied. Get real. Youre supposed to be an institutional shareholder. Why wouldnt he come over . A flight toon paris. Pfizer is prepared to pay for an international conglomerate. Billion, that is considerably higher than the initial 10 million. Payayer is the pear to for merck. The deal coming in the next couple of days. It is the price tag. Rickets dropout. They said that statement saying that it was too high for them. What we have is an asset swap between buyer and cash and buyer and merck. Claritin, dr. Scholl, the allergy medicine. You look at these things, you dont think of them as core to the pharmaceutical business. What bayer gets is a clear consumer focused division. Is the Animals Services had they can build up a veterinarian unit. They will have a cash and asset swap. You can see this energy for both companies. Another clean win for our reporters who had this and sent the stock up two percent. We will be watching it to see how it reacts. We have finality to this deal. A bloomberg exclusive, the pfizer deal. It is all about us today. Fridays focus is on jobs. The march unemployment report out of the eurozone as well. The u. S. Jobs report, always the big number today. 218 thousand. That is the median forecast. I will tell you why this matters. This matters because you cannot blame the weather anymore. That excuse is pretty much dead. It is no longer about this headline number, we need to look at a whole range of and caters. Labor a plethora of market numbers. The average hours worked, wages become particularly important. Weakness we had in the First Quarter and the absolutely prophetic gdp reading, this really matters. Dont just look at the number in isolation. Want to kick off on a good one. We have a new way job to track this. A lot of guys on wall street, they get the jobs number wrong. It is difficult to predict. We now track the guesses on twitter and collate the meeting. You have the number, the bloomberg estimate, your number will feature. Is the overall forecast. I think we are around 210,000. This is this treat. Fascinating to track. It will start the economist. I will not ditch the economist. Person knows this is difficult to forecast. It really is a guess. Is not just about the u. S. But some data coming out of the eurozone, the Unemployment Rates are released. This is short of the record high in the eurozone. Did the ecb care about this . Increase price pressures on the inflation side. Not become data did part of the mandate. If theyd did, i hope they will do a lot more than they have done. I hope there will come right off of these record highs. Unemployment is a much bigger concern in that region than it is in the u. S. John, see you later. Later on today, we will have the entrepreneurs making it settlement. Well get a behindthescenes look at what it takes to make it into the prestigious list of the worlds 50 best restaurants. That is in the know coming up in the next hour of countdown. A strategist take on how that data could affect the dollar. Time for todays company news. Berkshire hathaway has agreed to ltalink. They operate electric transmission lines in canada. The deal is worth 2 billion. Missedond Quarter Sales analyst estimates at linkedin. Linkedin, the online professional Networking Service has had six trade quarters of decelerating growth. 4. 5 infell as much as tokyo trading. Sony posted a preliminary net loss of 1. 3 billion. The downward revision was the dirt since october. Countdown. To it is jobs friday in the u. S. Lets look at how the data could affect the dollar. Just todays jobs data. Perhaps going to give the dollar and left. The dollar, that so many projecting would be higher at this stage of the year that it is right now. I think definitely it does. First of all, we have an above the senses forecast. Jobse looking for 250,000 in this report. As recalling mentioned, theres a lot more to the report than that. We will pay close attention to what is going on with average hourly earnings. We are actually getting to the rate of unemployment that is starting to create english very pressures. Is ultimatelythat what will force the fed to start hiking rates. That is what will give you the on the dollar down the road. This report could be a key starter for that. Why hasnt the dollars strength comes through when many were predicting by now but it would be much higher than the position it is in today . One of the issues that we are justis that it is not expectations of higher Interest Rates in the future that matter, we actually need to see that through into nearterm carry in the dollar. You dont have that yet. That sort of puts the real sustained dollar rally farther in the future. Another big issue has been some of the issues surrounding geopolitics. In fact, that is sort of undermined some of the Dollar Strength associated with expectations for the u. S. Economy to take off. You have to be weather related issues. All of those things kind of took away from that. Right now, we are looking for some of those issues to start to settle. Ultimately, this report should be less affected by the weather. In fact, maybe we should get some payback. That is what people are starting to look for. Volatility has been a big scene in the markets. You mean the lack of it . What does it take to engender a bit of volatility in the fx markets . I think we need a really key trend that people can jump on. One, you need to see a clear are on a u. S. Rates trend higher. This might be the start of it. You need to see something from japan in terms of how do they get through this whole hike we have seen. Do we see inflation sustaining . Ultimately, we need to see signs of what will happen in the euro area. Yes, unemployment is important but ultimately what is really the focus right now is whether we will fall into a deflationary trap in the euro area or the ecb will be able to start. How would they start . We think they will start to get some inflation but it will be very slow coming. As a result, is not likely to move next week. Of course, we did get a slight downside. The odds have increased slightly. The problem that they have is that they dont see the sort of tools available to them right now that they would like to use. They would ultimately like to do credit easing not qualitative easing where they are effectively injecting credit. They dont have the tools for that. I have to have a market for that and that will take a bit of legislative work and work with the committee. The euro stays around these levels. Stay innk we will relatively close range is in the very near term before it ultimately is falling. Lots more to discuss. The boj, we will chat about. What is happening in the u. K. As well. Boeerday, we have the meeting next week. We have some Strong Manufacturing data. Welcome back, this is countdown. You did touch on the boj. Lets dig in a little bit more. We have the latest meeting this week. They can hit two percent, are you on the bank of japan side or those doubting the ability to engender that sort of inflation . Looks ultimately, we are on the bank of japan side. This is not just about the depreciation from last year or at. Ut th whether we get to two percent, we are not ultimately there. We do think that they will get in the range. They probably need to take additional policy steps to get there. We are expecting in july that they do that. We think that will be one of the that will top out at those ranges. We dont go above . Works i dont think we wont go above 105. Model there is a famous and describes this. We think youre in that overshooting phase where ultimately people are trying to decide, is the inflation going to be sustained or not . If it is sustained, effectively price back to where we sort of cd deliver him in dollar yen. There, people have to effectively price and a risk premium which means that dollar yen might go as high as 105. Strong manufacturing data, warnings about the Housing Market are coming from all sides. What do you think . On the house inside, we still have constraint supply situation. We have a booming economy in the u. K. All of that seems to support prices. Economy, you are firing basically on also wonders. Not only to we have consumption strongly supported, we are seeing it feed through the wages. We have seen exports pick up in the u. K. We have seen investment pickup. Adds a lot of potential upside. What we think is ultimately theg to cap it here is inflation just isnt there. Much the same situation as the fed faces where they are held back from hiking rates because they dont see inflation. The bank of england is actually facing falling inflation. Suffering from low inflation. This is the case. If you look around the world, there has been downside surprises to inflation virtually everywhere. I use the bloomberg median forecast. You look at this across countries, you find that analysts everywhere have been getting this wrong. It is also the Central Banks that have been getting it wrong. Only ones where the bringing it is the bank of japan. Gotten it right. If inflation stays low, rates stay low . In many places, that is the key issue. We will chat more about this. Just ahead, we will go inside of the first whiskey distillery in more than a century. Welcome back. This is countdown. Lets get straight to jonathan ferro. I want to start with sterling. This one just off of the fiveyear high. We have had better data. We have had a lot of talk about m and a activity. Pfizer could pay over 63 billion pounds. Give this one abu. Here is your question, 307 u. S. Companies have about 2 trillion dollars in cash. How much of that cash is already in pounds and is already in euros . Is the impact of those deals likely to be less than you think. Is demandingputin that Ukrainian Forces pull out of the east of the country. Could bet report released which could be one of most important reads of the year. Theyre hoping that the economy added at the excessive pace. The eurozone Unemployment Rate has been stuck at 11. 9 since october and the estimates for the numbers released later today show no change is once again affected. Angela merkel is in washington for a twoday trip that will include meetings with president obama. Hans nichols joins us for more on the chancellor special position in the ukraine. She is seen as an intermediary between obama and cutin. Putin. She is seen as an intermediary that is leaning more towards the u. S. The challenge has been to balance or business interest in germany. You look at some of the traits they have what russia. It is the largest trading partner in the eu. Seen her get increasingly upset with vladimir cutin. Putin. Of her relationship with barack obama, we have seen clear telegraphing from german officials is that they will put aside all of their nsa, the snooping, the eavesdropping and put all that aside. The focus will be how do you get the European Union and the u. S. Aligned with one voice. Does that mean additional sanctions. What were they due to present a unified front . In some ways, they look at putinl as a kind of baye whisperer. They look to her tables translate putin to her to translate putin. It will been interesting conversation. Courses might be a little bit early in the morning. I went into a whiskey distillery but theres only one catch, they havent officially made any whiskey yet. Is the first whiskey maker in london for more than a century. Darren brooks, this is part of a wider trend towards craft brewing in the u. K. And a dayhree years for this to become whiskey. The money comes from another spirit. Close we started to do a gym. A gin. E started to do we were building the space and thatund through an image was sent in, a business perspectives for another london distillery company. He actually did not succeed. We dug in to this end he was responsible for lot of bridges around london. And you named your gin after him . He deserved it. This has become a creative hub in south london. Funded by a, it was lot of High Net Worth individuals. With those letterforms, a lot , they were not doing Due Diligence on the valuation models and we were being very conservative. Trying to give a good amount of equity for investment and i think that was one thing that was attractive. The Company Cares about its ingredients from traceable juniper the stork Barley Varieties from the southwest of england. Each have a flavor profile. What should you drink this with . Flavored White Chocolate with carter mom is incredible. We are taking a kind of whiskey twist on gin. It is 50 . Dont be surprised. 50 are set . Not50 alcohol content is for the faint hearted. I convinced myself it was almost a health food. That is much easier to drink than i thought it would be. I have to point out that was pretty early in the morning. Went to the bus stop after. I had two sips, that is the honest truth. Lets take a closer look at ther london facility distillery that was established in 2009. It is one of only four distilleries. But what about this with the founder. Content and alcohol 11 in the morning. This is a bit early. Welcome to our world. It is all about quality. Where did your business come from . Our inspiration came from some of the smaller and craft businesses. I spent a lot of time living under there myself. I was enamored with this idea that when you use your hands to make things in small batches, things taste phenomenal. You get really great quality. You have got a wonderful story what we will stop really wanted to do was to lift this veil of mystery, essentially, that exists in distilling. Educate me, how does one craft a bottle of gin . Well, we start with a really great base. I really great english base that we use and we crafted in really small batches. This is a very classic style gin. There is an explosion in gin right now globally. Us, botanicals that we choose our very classic. This is a reflection of London Dry Gin that once was. June had an incredible history, especially in london. Gin has an incredible history. Years,ively give it 200 one in four habitable structures in the center of london had its method of distilling. It changed the way that people ended up making things in the end. More people were involved. The laws ended up changing. Suddenly now in the modern era when you have our bartenders really making a difference. They are taking time to share the story of the gins that they represent. The second influences consumers. People wanting to share stories and go to experiences. We have had about 15,000 people through our doors in the last five years. That shows how much people are interested in learning in a formative and intertwining way. You show more people around your distillery then you share bottles . No, we sell more. The Craft Movement is beyond just london. I wondered how you managed the Great Expectations for business that design is small. We have just moved sites. We are moving into a larger area so we can increase our capacity. As we grow, we will never compromise the way in which we make it. This in a oneshot distillation compared to the guys were it is concentrate. But bigmake in a year, guys make between 9 00 and 10 00 in the morning. They are caught in the non on. Re cottoning is that a complement to the likes of the small distillers like yourself . Yes, i think so. For the craft and, for the people that really do this in a think to wa