If youre going to get into Goldman Sachs or bloomberg, the local corner store, you have to work very hard. Is it time up for tesco . They may close their worst quarter in a decade. Terminal two at heathrow takes off. Heathrow claims they have learned lessons from terminal five. We are live at the airport. Hello welcome to countdown. To therm welcome program. Its just gone 6 00 a. M. In london. Bloomberg reporters are standing by ready to deliver the stories to drive your day. Is in berlin. Ryan chilcote tracking tesco. Olivia sterns has the best gig. She is live for the maiden flight of heathrows new terminal. First on bloomberg, live from heathrow terminal two opening, we will speak with the newly appointed airport ceo in the next hour. English celebrity chef opening his first Airport Restaurant and its also in terminal two. Catch that interview in on the move. Hooton has been excluded but his presence will be felt. , notnichols is in brussels berlin. He has more for us on this story. Leaders and obama, are they on the same page, hans . Privately, officials are telling us that there will be the option of sanctions. Everyone wants to deescalate. Thats what they want to use the g7 four. Publicly, have a listen to what William Hague exclusively told caroline hyde. This does not seem like a man afraid of the threat of additional sanctions. To, then wehave will. We are always ready in the u. K. And across the European Union as morele to oppose farreaching sanctions on russia if its necessary. We hope its not. We hope we will find ways to reduce tension. Tothere are two components check the march westward. We talk about sanctions and the threat of additional sanctions two, military readiness. President obama made his first stop in poland walking right over to the f16 and the symbolism was there. He pledged another 1 billion. He will have to go to congress for that. It last time obama was in brussels, he needled the europeans about spending more in their own defense budgets. Listen to what the general secretary of nato had to say about the nato that is flexible and ready to act. Nato fitter, make faster, and more flexible. That through a readiness action plan to make sure our forces are even more responsive with the right capabilities, the right training , and the right resources. When leaders arrive here later this evening for a dinner, we will be working our sources trying to figure out if there is any split within the g7. We are here in brussels. Putin will be coming in for the normandy celebration later in the weekend it will be a remarkable couple days. He might not be on this particular guest list, but hooton will be in town. What are the chances of a meeting between president obama and hooton . Putin . Meeting isa sideline very likely. Its important to acknowledge their war and the liberation of germany. The deescalation rhetoric on that score, nothing is official. Putin is meeting with cameron, francois hollande, and ms. Merkel. Where hea great moment has two separate dinners planned, one with president putin. Who knows if you have a two flights of wine set up for that. Hans nichols on the ground there in brussels. A bloomberg exclusive for you. Of americas most successful businessmen have teamed up to help small businesses. Goldman sachs Ceo Lloyd Blankfein and Michael Bloomberg teaming up to coach entrepreneurs. I remember being a great listener and a diligent athlete, but i have a feeling we were all a bit alike. Do you feel like the Younger Generation wants to take note . Have icons like mark zuckerberg, the guys from snapchat becoming multimillion and billionaires, they dont necessarily want to learn from their elders. Those are so rare. You have a better chance of winning the lottery. Youre going to have to get used to the fact that you will have to work your way up. It will be a struggle. You will have ups and downs. Thats just the real world. I dont know very many peoples are successful who did not have lots of downs in their careers. Anyone with a meteoric rise is getting ready to fall. Knowing how hard you worked in your career, does it give you pause from young people who dont want to work on the weekend, dont want to work for the man, want to be part of a community. It is darwin at work. What do you mean . Always buy a Lottery Ticket, stephanie, and win 1 trillion, but generally speaking if youre going to get into Goldman Sachs, bloomberg, or at the local corner store, you have to work very hard. To work collaboratively, cooperatively. You have to be honest and flexible. If you are going to tell me you dont want to do this and that, i would not want to hire you. I want to know what you want to do and i dont think most kids fit into the mold of the millenial. They are too good for this and the man orwork for the woman. If there are a handful of them, they are in for a rude awakening. Withephanie ruhle talking Lloyd Blankfein and Michael Bloomberg, the founder of bloomberg lp, the Parent Company of this network. You can catch the entire exclusive conversation on Bloomberg Television this weekend. 2014been a tough start to for tesco. Share. Ve lost market today, the market is bracing for yet more bad news with thirdquarter sales. Here with what to expect as ryan chilcote. Slowing sales. Likely heard Michael Bloomberg say rude awakening. Maybe that applies to tesco. We got this report urges basically as bad as it gets. These researchers who follow say that the sales and market share of tesco here in the United Kingdom over the last three months fell by the most since theyve been compiling the report more than two decades ago. Sales fell three percent in market share down by 1. 5 . To 14 analysts and they said that they actually think that sales fell by 4 which, by their record and ours, is the worst estimate in at least a decade. One of the 14 analysts we spoke to said he put his numbers together before this report came out. He says theres downside risk. The numbers could be even worse than he thought. Abouttalked long and hard aldi and others. Its pretty straightforward. Has market share. You look at the most important da,rest competitor, as their market share rose from 17 . Not a big deal. The four biggest supermarkets to see a rise in their market share and the reason for that is they are playing for keeps. In november, they lowered their prices and they had a great january, february, and march. Tesco had a sales decrease of 2. 4 and then you have the discounters on the bottom, like aldi. 2014, they just had 6. 5 of the market and now they have 8. 3 . They are nipping at tescos heels. Ress that was not cheap. Proximity. Ut he shops all over the place. No loyalty. Ryan, thank you very much. Olivia sterns is with us and shes here to tell us why shes at Heathrow Airport today. Good morning, olivia. Good morning to you. Theres been a bit of a discussion about rude awakenings. I think im the only one who has had one because i met the new terminal two, the queens terminal in this lovely jacket. Im here because the queens terminal as just had a 2. 5 billion makeover. There are new thrills including a new blumenthal restaurant. As beautiful as this is, it will not do anything to add capacity to heathrow. Try toart of the bid to get the crucial third runway. We will talk to the ceo of heathrow later on in the hour. Back to you. You make that jacket look good. Hot pink. Ive never been offered that. Sausage rollsmore at rio tinto. Isting costs and hot savory off the menu. We will have both of those stories after the break. Companyfor todays news. The German Government is considering using it stayed down the Development Bank to buy a proposal to buy Energy Assets goes ahead according to people familiar with the matter. The lender owned by the federal government in the german state would buy alstom sales which they would have acquired in the sale. Askswagen will sell as much 2 billion euros in shares to help pay for the takeover of threewaydeep in the alliance between the vw truck unit and munichbased man. They will try to create a Truck Division to compete with d aimer and volvo. Is the biggest foreign acquisition by japanese life insurer and will give them access to clients across the u. S. Japanese insurers are venturing oad with a string thing shrinking population athome eroding demand. Welcome back to countdown. In the usm. In london trillion economy has received a inst with gdp figures coming above estimates. Lets go to paul allen in sydney. What was behind the stronger than expected results . All about the exports, mark. We got a sneak preview of that yesterday where we found they contributed very handsomely to the narrow deficit. Exports for the quarter up 4. 1 tocher bidding overall 1. 1 gdp growth giving us an annualized gdp figure of 3. 5 well above trend but perhaps not sustainable. We have volume up but the price is down and china, as we know, in the grips of a slowdown. Construction and this is what the rba and the government will help will replace the boom. Mining investment this was contributing 0. 2 to gdp growth but plenty of challenges down the track. We still have the stubbornly high dollar and Consumer Confidence taking a real pacing when the government handed down an extremely tough budget. Yesterday. Rates smart money says it will probably stay that way for much of the rest of the year. More evidence today that the Mining Investment boom is petering out with news that the Big Companies are looking to make cost savings. What sorts of things are they doing . If you work at rio tinto, no warm pies and sausage rolls for you. In the move that will save 60,000, it does not sound like broader its part of a costcutting program to cut 2. 3 billion in spending. They are refueling mining trucks in the pits now. The purpose is to reduce tire wear. The tires on those enormous trucks are very expensive indeed. Mentioned, all thanks to china. They are becoming rather the keyd with some of commodities so theyre looking to trim costs wherever they can starting with pies. Youruld you live without warm pies . I think i might manage. If they took away your breakfast cereal, it would ruin your life. Bank international will be back right after the break. Welcome back. This is countdown. Tripleg in on the new seven next aircraft outgoing. He was interested only after early buyers had begun operating them. 777 is about 1500 orders already. A240s particularly the a240600. Come into service until 2020 and of the Leasing Service we dont want to be at the very front of the program. Bloomberg at the conference in dubai and is the ceo of air lease. Lets get back to the australian economy. We were mentioning that with paul allen over in sydney. Expansion for the australian economy. You have to go back to 1991 to economyuarter when this contracted. Where does the Australian Dollar go from here . Clearly there has been a Mining Investment boom which i would say was over a while ago now. They have really managed to reinvent themselves in the Investment Bank is really low. They begin to list the dollar after the selloff. Now we do have this worry that china could be slowing in this worry that investment spending has been slow. Might see the Australian Dollar peaked out around current levels. It is all linked to china. I like how you at rabobank have been using slow, slow, quick quick slow for the motto of china. It has been very wrapped in many different it has been many sectors. Over recent weeks, we have seen signs of self stimulus. Know they are concerned thatthere is the fear could lead to social unrest. Ist they need to maintain instead of blanket stimulus, theyre trying to pinpoint various parts in order to get the stimulus through and keep the growth rate at least at 7. 2 . Jane, lets talk about matters closing to home, tomorrows pricing at the ecb. Will it be a catalyst for the euro to rise or to fall . This is the big test for draghi. I would not want to be in his shoes. If he does not do enough, it could be buy and sell. Complicating it is friday payroll data. If that is week, all the more reason for it to go up. Theres a lot to play for. We should talk about this also. Market needs a surprise to keep the euro dollar buyer slower. He needs to do something to push the stimulus. What would account for a surprise . It has been talked about much in the last month. To get that out to small and mediumsize enterprises, he needs to pinpoint that easing. Something along the lines of bank of england lending pushing the stimulus where needed is probably what he needs to do. Thatder to convince us hes doing this, the rhetoric, the former guidance, needs to be really quite thoughtful. It will be very interesting. We have a meeting at the bank of england tomorrow. You dont expect any dissent, no rate change until the Second Quarter of 25th team. Some people are bringing forward those expectations of the rate hike but you arent . Ise Second Quarter for 2015 what we have been saying. If you look at this production index, you say yes, it has recovered. It is not at the peak of a few years ago. This quarter, we could see the u. K. Economy back of the sorts of levels that we were, but we still have somewhere to go. We have seen some slowing in the Housing Market and i think it will be better. Jane foley joining us from rabobank. Terminal two that he threw kicks off today. Terminal two at heathrow. Welcome back. I mark barton. 6 30 a. M. In london. Here is the fx check for you. Big news, the economy growing at the fastest pace. Homebuilding show record lows after sustaining the 22 year expansion. Even if Mining Investment slowed, First Quarter rising by 1. 1 outpacing economists forecasted. The suggestion is that rates will stay unchanged from the. Ecord low levels of 2. 5 regardless, the aussie dollar is up against the u. S. Dollar at . 9268. Top headlines. E the top hours meeting in brussels for the g7 summit. They could discuss additional sanctions against russia and continued tightening in Eastern Europe crane. To return Bashar Alassad to the presidency. Polling had to be extended because are markedly remarkably heavy turnout. They are casting doubt on his support. It is sham election. It does not mean anything to most of the world. You cannot conduct a meaningful election in a country torn by war with so many people displaced without opposition having any proper opportunity. This election carries zero credibility. Thousands of summer demonstrators turning out in hong kong to mark the 25th anniversary of the Tiananmen Square crackdown. They are forbidden to mention the event. They broke up student prodemocracy demonstrations with tanks and live fire. The new heathrow terminal two opens its doors to passengers today. It pay off . Olivia sterns joins us now. Theres a lot of hype around this launch. What will the impact be for travelers . If youre traveling on the Star Alliance, united, lufthansa, air china, etc. , you will find a lot of glitz and efficiency. The terminal is the same size. Thats the trouble. Exactly the same capacity but there are quite a few new parts including a new hess and blumenthal restaurant, john lewis retailed. 33 new retail stores. This is four times as big as buckingham palace. They will be able to process 2400 bags per hour. This promises a smoother and more enjoyable opportunity for travelers coming through. They have realized there is a huge opportunity in retail. 70 of customers that pass or the airports actually do end up buying something. The average is about 40 pounds per passenger. Even though its not adding capacity its a great Business Opportunity for them. For more on the new terminal at heathrow and what it needs for the airlines, Terry Lundgren joins us now. Airports have nothing to do with the travel sector. They are just Big Department stores. A john lewis now in an airport. Whys it so important that this goes smoothly then at heathrow . The most important thing right off the bat, last time they did this at terminal five, they had 600 flight canceled and the cost 60 million pounds. They do not want the fiasco they had at the last opening. In the grander scheme of things, they want a third runway. This is the opportunity for them to put their best foot forward and show they know how to spend. They can deliver on big Infrastructure Projects like this and do the best that are british. A lot of those brands, blumenthal, john lewis. I will be an airport debut for them. Those are all things that heathrow really wants to emphasize and put forward. And the new runway plan, heathrow has been short listed at. Gatwick is being looked does this improve its ultimate chances of being awarded neil smit prize whenever that happens, if it does indeed happen . Its hard to say. Its a real battleground. Mix. Still in the one has to wonder if thats not a bit of politics being played by boris. The mayor of london is backing that. He he is emphasizing the hub which is in heathrows favor. They have acted as a hub airport. Europes biggest hub and you have these big hugs developing in the middle east big hubs developing. Notwick says its important because those that are growing are those like easyjet. I dont think it will hurt for a big, glitzy, grand opening for a passenger to love it. About 70 of heathrow passengers will be going through a space that is less than seven years old. People like it. You been to terminal two and youve seen it. I hear theres a big sculpture that greets you on arrival. I quite liked the old one. It had that 1950s madmen kind of charm. It was looking a little tired. Like