Crushed out of the tournament. A warm welcome to countdown. I am anna edwards. 6 00 here in london this thursday morning. Bloomberg reporters are standing by across the world ready to deliver stories that will drive your day. Looking at the markets reaction to the latest fad decision fed decision. Is in paris with exclusive comments from the loreal chief. And Caroline Hyde is in london. Stay with the channel. On the next hour, an exclusive interview with the biggest electronic retailer. And later on bloomberg row coming, an exclusive interview with a special guest on the pulse. He talks about the connected home. The fed reserve trimmed its Bond Buying Program as expected by 10 billion. The fifth straight cut in a row. Walk usanny is here to through the minutes. Janet yellen had a very Important News conference as well. Manus, the market seem to like what they heard. Neuheisel reached on various markets new highs reached on various markets. It could have been worse. Lets have a look. The treasury bond is the biggest again. Why . It is a commitment to the zero buying world of dont worry. The dollar is a little bit lower. A job market is improving. We know that. They are adding jobs. The economy is rebounding at a moderate taste pace. How much access amounts . It remained significant. It is a noisy old thing. It is moving back to target. Hawkishs of a more outcome simply were not realized. Inflation continues to run well below our objective. We are still some ways away from maximum employment. See anymoment, i do not tradeoff whatsoever. The labor market has continued to improve. Over a number of years he growth has come in at a disappointing level. We are still seeing the Global Market broadly improved. I expect that to continue. Do you make of her communication skills this time around . Top of the class. Improving considerably. Inc. Of the three protagonists of forward guidance. You have ben bernanke, carney, and janet yellen. There is no mechanical formula. Say everything and say nothing and commit to very little is definitely improving. As far as Interest Rates are concerned, they have raised their views. They will have to get the dots on the matrix. Rates will rise more quickly than they originally anticipated. On top of that, they are paring back their view on growth in the longerterm. Manus cranny on the latest from the fed. Has promised no hard landing and no strong stimulus. What was the promise . An honest and a solemn promise to deliver no hard landing for the chinese economy. Big promise considering the size of the chinese economy. You rarely hear are World Leaders guaranteeing how the economy will fare. That is what you heard. He is in charge of the chinese economy. He says he could promise honestly and solemnly that china will deliver at least 7. 5 Economic Growth this year. Inflation will remain in check. It will not exceed 3. 5 . China will have medium to high level growth in the long run. He also talks about smart and targeted regulation. The independent economist we has spoken to say the property markets and have the recalibrate their effort to make sure that lending, for example, does not burst a bubble in certain markets around the country. Tier 1 cities like beijing and shanghai. That remains the big unknown at this stage. Lets not forget the big announcement of china allowing the exchange for british pounds. That takes effect today in shanghai. The fifth major currency to trade directly against the yuan. There is theme of london gressing at you on centers yuan centers. An eventful visit. Thank you. Back on an acquisition spree in a rare and exclusive interview. The loreal ceo set down with Caroline Connan in paris. What did he tell you . Good morning, anna. Loyal and said to spend more than 5 billion in an acquisition in just the first half of 2014. Last night, there was in a position of the u. S. Make up t cosmetic in los angeles. It is a way for them to compete with mac that is owned by estee lauder. I sat down with the ceo of gloria on the sidelines in paris eal on the sidelines in paris. Have a listen. Nyx is a great brand. It is the only brand like that. Professional makeup artists has been a Great Success in luxury for many years. We have been very successfully with the equivalent luxury brand urban decay. A makeupally planning artist brand in mass markets. Is the cd is an indication of an size this deal indication of the size of no, we thought it was a great opportunity. We took it. Seizingretty good at brands that are still at the early stages and making them huge. One of two examples is maybelline. Revolted 20 years ago we v oted 20 years ago. Year, it will be 600 million euros. This we do pretty well. Taking a brand and being able to identify its strengths and values of the brand they could make it universal and globalize it. Also be that nyx will at the brand. It will follow in the same direction. How long will it turn take to turn the body shop around . If it fails, would you consider selling it . One of the reasons it is shop, it wash body a rarity a big brand. It is easier to take a small brand and make it a huge grant. When it is a brand that is already big and had to reinvent and refresh and reading of it, it is more difficult and takes more time. We take the body shop is a real challenge. There is a new strategy and a new vision. Are we going to see more acquisitions in the rest of the year . Alle are analyzing opportunities every year. The simple reason is when someone has a beauty brand to sell, they contact us first. We see all opportunities. Youre very selective. Selective. Only the we pick the ones that are complementary to our portfolio. We are confident we will find other opportunities this year or next year. Ceo told me that europe easy back. Itis even confident that posted its first gain in the sales quarter. More in the next hour. Anna . Paris. Line connan in ed ins have toiled and work factory for years. Caroline hyde is at the Imperial Aerial Robotics Lab in london. I guess youll soon be showing us some robots of the future. Be once the lab is open. I will be the first one in to show you the miniature drones and aerial robotics. London leads the push to cash in and what is an enormous opportunity. Robotics become more finesse. According to mckinsey, this could boost Economic Growth by 4. 5 trillion. That is bigger than the entire german economy. We always knew that we had robots from any faction. We had robots that could spray paint, weld, the dangers and heavy lifting jobs instead of humans. Theyre becoming more dexterous. Theyre becoming more intelligent almost. We have got softbank creating a four foot robot that the culpepper. They can dance and tell jokes. You could buy this robot for about 2000 come february 2015. We have got other robots being made that to play football. Pretty phenomenal stuff. They could be doing surgeries. The leaps and bounds being made are pretty phenomenal. Japan is focusing on robotics to such an extent they wanted to be about 23 billion in size by 2020. A key area of growth. London once in as well. W wants in as well. There are some concerns out there. Elon musk is worried about a terminator robot being created and being too intelligent for its own good. There is a huge opportunity. So much money is being thrown at the situation. Caroline, thank you. Caroline will be back later in the program. Still to come, looking for a rate hike in the fed forecast. Time for todays company news. General electric ceo arrived in france today to make a final push for alstoms energy assets. He needs to convince others to except the bid. The energy grid and transportation is is is still being negotiated according to a ge spokesman. Londonbased Financial Information provider raised 1. 3 billion in a u. S. Ipo in the londonbased Company Provides price data that forms the basis of much of the Global Derivatives and bonds markets. Shares sold at 24 each at the midpoint of the range. Shares will trade on the nasdaq today. Loreal, the worlds biggest cosmetic maker, agreed to by nyx cosmetics for an undisclosed price. Speaking in an interview, the loreal ceo says the purchasable both store lori yells pickup real will boosto pickup offerings. Is a traditional brand. It is the only brand like that. Hasessional makeup artists had Great Success in luxury for many years. Equivalent, urban decay. Takee really planning to nyx in the massmarket. First amazon revealed its smartphone called fire phone. It is tied to the retailers other services. It includes 3d viewing and Image Recognition technology to make it simpler. The fun will start at 100 99 and will be on sale in the u. S. From july 25. Welcome back to countdown. I am anna edwards. A time in london is 18 minutes past 6 00. Fed chair janet yellen reiterated that rates are likely to stay low for considerable time. Uest. E joined with my g thank you for coming in. Lets talk about janet yellen. It seems the markets are listening to janet yellen and her commitment to keep rates low for a considerable time and of theg the forecast other members of the Federal Reserve. I think that is precisely it. No mention of the sixmonth window. The market took heart in that. The commitment took a lot of focus. Theres a sharp downward revision. The markets walked away liking this. They walked away with a dovish interpretation. It seems to me that when you add up what matters for centralbank at what matters to the fed, they have a dual mandate. Improve their own employment forecast. Increased inflation forecast. In the end, those plots matter. Maybe they dont. Does that tell us that the rates will go up from zero . I think the proper conclusion is that they might go up a little bit more quickly. Theres always a debate, which is central bank. They tend to underestimate just how much of a cold feet they will get. It will likely be a bit later than they think. It might eat sooner than the markets believe right now. We havent talked about low volatility. Have been talking about low volatility. In chicago, at its lowest level since 2007. Does. Hink it it needs to be viewed properly. It creates a vulnerability. It certainly creates a vulnerability. It is a list of the pointing that yellen it is a little bit disappointing that yellen asked about that. It looks pretty normal to her. There are no particular warning signs. What about the Global Growth story . I was intrigued to listen. Promisinglking about honestly and solemnly they were not be a hard landing for the chinese economy. That takes on a different residence from a chinese leader than a western leader. Make such a commitment. Absolutely. Not something you would expect a leader from the west to make. I do tend to be pessimistic about chinese growth. Easy evidence of a slowdown and housing issue. Of thesee evidence slowdown and housing issue. The chinese Central Government has resources and will likely do some bailing out when necessary. They can achieve some growth and get that soft landing. Eric lascelles stays with us for another conversation after the break. We will get his insight into the canadian carney versus the bank of england carney. We will compare and contrast after the break. Welcome back to countdown. I am anna edwards. A time in london is 6 24 a. M. We are back with eric lascelles. You are wonderfully lace to compare and contrast the canadian version of carney and his british reincarnation. Give us your thoughts on how he is doing. We can see the smartest man in the room. I think that argument is correct. The u. K. Has done well to have him. It is interesting some of the parallels that do exist. There are are other factors. He has impeccable timing making a shift to the u. K. Is that a euphemism for being lucky . Certainly a little bit lucky. The u. K. Has taken off just before he arrived. He finds himself grappling with broadly the same issues. Tool. L guidance used as a more quantitative easing wasnt. Ppropriate in either country look back at canadas version as well. There. A parallel and there is a canadian example there. There is. Canada under carney did not do a lot about housing. That is not entirely fair and the housing regulation film much less under the purview of the bank of canada. Thats we could see carney in ging in some actions to certainly we should not expect rate hikes to come because of the housing market. When will the rate hike come . Has got a lot of people reaching to change their forecast. That is right. There are comments from mustard versus the minutes they came out yesterday. In the end, the market is probably about right. I think the message that Governor Carney meant to pass along late last week and that ultimately was a bit clear is that there is too little volatility. Lets get those scales little bit fatter. The likelihood was too low. Thank you so much for joining us. Eric lascelles. Coming up, will amazons fire phone heat up the Smartphone Market . Plus, Virtual Reality goes mobile. Introduce you to a device that takes you into another world. Welcome back. I am anna edwards. Lets head out to manus cranny for the fx check. Janet yellen spoke and the fed released its minutes for zero bond buying rates for a considerable amount of time. This is the dollar index coming lower. Volatility is declining to the bloomberg dollar contracts is that a indexes that a onemonth low. It is helping the likes of the mexican dollar as well. It is a different kind of currency. This is after the gdp numbers. The Fourth Quarter was revised higher. Called it a once pea shooter. The markets think that they will raise rates again. The possibilities currency making an alltime high is rising in the market. 72 say that this will trade above its august 2011 level. Anna, back to you. Thank you. Here are the Bloomberg Top headlines this hour. The fed says Interest Rates are likely to stay low for a considerable time. Janet yellen said monetary stimulus will continue until the central bank achieves its goals. Committee believes that Economic Activity is rebounding in the Current Quarter and will continue to expand at a moderate pace thereafter. Iraq Prime Minister warns the violence in his country could spill over into neighboring states. U. S. President barack obama is urging the shiite led government to become more inclusive. And parliament will swear in a nuking today. Son succeeds his father who is stepping down. Spain today. In succeeding his father who is stepping down. Smartphones new youre at it has 3d technology and will go on sale in the u. S. Markets next month. Cory johnson was at the seattle launch in seattle. This is it. This is the fed moment. This is the msi and fire phone. Phone. N interesting re are a couple of things it is this affect that allows the phone to have a 3d hologram like image on it to allow you to see things better with things like maps and so on. It is actually a really fascinating thing to see. Other is very amazonian like. Something that they call firefighter. He pointed at something in your house or in the store and you identify that thing and you price it and buy it. It will also help you listen to music and recognize the music. Even recognizes scenes from a movie or television show. It could be wikipedia entries or imbd. That amazonoduct owns with information about movies and tv shows. It is driving more business into the amazon ecosystem. That allows them to buy more stuff. To make that even more plausible , it will come with a oneyear amazon prime membership. With that means is people who have this phone will be more likely to spend loads of money on amazon to where they can dynamite the phone right a lot of topline revenues to amazon itself. We have also got news of an amazon black hairy deal. Can find out more in interview with the blackberry ceo on bloomberg west at 6 30 p. M. This evening london time. 3d printing you may not think that could describe the same gadget, but you havent seen this. My guest joins us in the studio with an example. Thank you for coming and. Ls what this is. Is tell us. What this us what this is. It is a headset. It is a headset . Yes. And thene combined results in stereo vision. Position. Are of the they can figure out which way youre actually looking. Tell us about what it is made of. You could see perhaps from the images that it is 3d printed. The lenses andom the screws of it. The entire body itself is 3d printed. That is essentially what we are trying to do different. We are trying to look at krod manufacturing. Tens ofof having thousands of them made somewhere getast asia, we want to owners to collaborate with us and manufacturing these locally. All of them will be handmade. Being. Es is is this for playing games or watching films . Every day, someone asked about new stuff. Maybe we could work something out. Probably games would be a big part of it. That would be an experience of which we tend to make them casual. Maybe presenting panoramic images. Someteresting we saw some to have a Virtual Reality headset that will be compatible between the two. You say that your Virtual Reality is compatible compatible with all smartphones. This means there are lots of variations. Yes. That is why we went for 3d printing. We have all of the different screen sizes. Different eye sites. Therell be a lot of different variables in a lot of different combinations. We embrace that. We added different designs and different colors. It is available on our website. Thank you very much for coming in. 6 38 a. M. In london. There is a final push for the companys bid for the alstom business. This is after a joint offer for the same asset. Caroline connan joins us from paris. What should we expect . Interesting. They have some negotiators in paris. Is a little bit of the pressure. It is exactly like you did last month when the head of ge in france was supposed to appear in front of french lawmakers. At the last minute, he decided to come he himself and defend his bid. Of course, we could expect an improvement of the maybe im not on the cash component, but on the job and guarantees of nuclear technology. There is no meeting scheduled at the moment with the french president. Of course, the stakes are very good for ge weird it would