Than what the Union Laborers are requesting. Nissan says they expect to pay the highest average monthly rate with ¥5,000 a month. A little change. We saw the stocks rise in japan. We expect to hear from the governor in less than half an hour. Manus lets talk about the composite. It is a 72 gain in the past 12 months. Is this a reserve requirement drop or more stimulus . Yvonne we are talking about a huge rally that we are seeing. We are talking about these signups seeing the highest since before the financial crisis. The highest level as we mentioned. Airlines and Utility Companies jumped. Investors seemed to be betting on the stimulus in the hope of the economy. We talked about how the pboc is ready to step in and thread the needle of reform, if they need to and they see the economy slow down. Some strategists say this means there is a bottomline that is strong right now. China will step in and make sure the 7 growth target is reached and will not go any lower. Manus thank you for the roundup. Mark israelis have begun voting in a general election that coulsd see netanyahu be defeated at the polls and retain his position as promised or. As Prime Minister. Confused . Does it come down to voting blocs, rather than party . Elliott that is right. Voting began an hour ago in israel for the election of the 19th Prime Minister. They will stay until 10 00 p. M. After that, we will get exit polls which are a good indication of who has won the election and who are likely to be able to form a government, in terms of a coalition. The numbers have changed for netanyahus party, which was leading in the last opinion poll and trailed by four seats. The constant has been more rightwing parties adding up to a greater number than the center and centerleft parties. There seems to be more Coalition Partners for netanyahu. Unlike in many countries, the leading party, the party that wins, does not automatically get tapped by the president to form the next government. He will look at the results, and the official results come out late thursday, and, after one more week after that the resident will decide, looking at the numbers, which party is most likely to form a governing coalition. It may appear to be the right wing. There are a lot who are waiting for the results to come out. He may decide the government of National Unity is the best bet. That could have netanyahu sharing the Prime Ministership with herzog. It would not be unprecedented. There are too many unknowns. If i were a betting man i would not bet on the outcome of the election. Mark we had dramatic developments last night. Elliott a couple of things. Netanyahu trying to shore up the rightwing base, giving a speech from a settlement saying categorically, if i am elected again, there will be no palestinian state on my watch. That will play well to his right wing voters. That will not do much to improve relations with the United States. Another development is the Zionist Union leading in the final opinion polls. It was always can to be the case that herzog would be Prime Minister for the first two years and he would switch with livny who was once part of the same party as netanyahu. She offered to relinquish her Prime Ministership if it meant they were more likely to form a government. The zionist unit has described this as a noble offer. It may come down to the fact that she loathes netanyahu more than she craves power. She does not want to see him serve another term as Prime Minister, mark. Mark obama is neutral on these matters. Is it fair to say that he will not shed tears if netanyahu is ejected from office . Elliott anyone who has watched television for the last two years will know that the relationship between obama and netanyahu is not as good as it could be. It reached a peak when netanyahu went to Congress Without the approval of obama. Congress is controlled by the opposition republicans. He gave a speech warning of the dangers of a bad nuclear deal with iran. The white house refused to meet netanyahu. The white house said they do not meet run ministers in the middle of domestic election campaigns. If there is a victory for the opposition, that would give a chance for u. S. And israel he relations to reset themselves. There are is really relations to rid set themselves. Israeli relations to reset themselves. They want a better partner for the negotiations, in the form of a government led by the Zionist Union. Netanyahu said, no palestinian state. 50 is elected Prime Minister you can forget about peace negotiations. Mark we will speak to you later, elliott. Anna 10 minutes past 6 00. Lets talk about technology. Another day and another skyhigh valuation. It is pintierest. Here with more is caroline hyde. The valuation is growing. What did you call it . I heard it called online scrapbooking. Caroline exactly. If you are decorating your house, it is a mild obsession. Mark we are all looking at it. Manus we went to my pinterest. I have to say it is inspirational. You go into it and it is a volume of images. Caroline it is not just decorating your house. Anything and everything. You can put it on a board and save it. It is 11 billion dollars, doubling the valuation in less than 12 months. It raised money at 5 billion. It is on the scale. They are on the hunt for a little bit more cash. It is new and existing investors for series g, as it is known. Manus the half 15 investors lined up. They have 15 investors lined up. What will they use it for . Caroline how do you make revenue from this company . They have not been building out advertising. They started to. They were beta testing. You can see promoted pins. You will see certain tweets pushed toward you that are sponsored. Similar things will happen with pictures. Bring that international, that is what they have to be doing. Build it out and make it ecommerce. You see a picture, want to buy it there and then, and you cannot. They need to use the my to expand internationally. The numbers are stark. International users have doubled. They are half of all of those who use pinterest. They have offices in london and tokyo. They need to scale that and use the advertisers. You have to see it. Last week snapchat, 200 million they raised. Manus is this a race for yields . Mark how exclusive is this . Is it exclusive if you are above 10 billion . Caroline they were called unicorns, if you were valued at 1 billion. Now, you have uber and snapchat. It is the sixth most valuable privatelyweheld startup. Many are cautious the money is too easy to come by. We will see the unicorns start to fall over. Anna the Business Model lends itself to a shopping source of revenue. Caroline, you do not speak from experience. Thank you very much. We have numbers coming from sony. They reported sales, including the pictures division. This includes the pictures to deivision. The operating profit is ¥182 billion. This is what they say about the forecast. The eggs Japanese Companies tell us about forecasts and that is where analysts focus. The net loss and ¥8 trillion in 2014 revenue. They are tying up loose ends. Manus join us on twitter. European equities are indicating a little bit lower at this stage. Anna and mark barton, what is on the agenda . Mark china. Copper. The red metal jumping earlier this week, following the premier League Pledge to boost expansion. We will bring you an interview with this man, the first interview of the day. We will talk earnings, prices chinese demand, in just over an hour. Manus will be sitting down with him oneonone. Mark the stories on bloomberg this hour. That is according to the financial times. The move delivers a blow to the United States. Western countries should stay out of it charges western countries should stay out of these institutions. Including android devices, apple is seeking to fuel more iphone six and iphone 6 plus phones. More people have switched to android to apple from android. According to the oil minister, after talks resumed with the u. S. Over the nuclear program, the world powers are working towards a deadline to end the decadeslong dispute over the program. Ubers cf is leaving the company, he expanded cfo is leaving the company. He expanded in 53 countries. He is leaving for personal reasons. Anna mario draghi spoke in frankfurt yesterday. Here is what he had to say about the euro area advances. Draghi the euro area has advanced a long way. We began with a single market, currency, and monetary policy. Have a supervisor and resolution of authority. Soon, a capital market. Anna lets look at japan. Centralbank spurs have decided to keep record stimulus unchanged. Central bankers have decided to keep record stimulus unchanged. Lets bring in unicredits head of Global Equity strategy. Thank you for coming and. In. The bank of japan, steady as she goes, despite 0 inflation in the japanese economy. What is interesting is that we have had a gradual downgrade. In the previous one, we had a downgrade of consumption outlook and we have downgraded the consumption outlook the inflation outlook. If the effects continue to be negative, as they have been this provides a good excuse for the bank of japan to say the slow down in prices and Price Inflation is temporary, having said that temporary. Having said that, domestic demand is rare in japan. Anna can it get a boost . It might. A lot of the world and outside of the u. S. Is going to get a boost in real demand with a lag from lower oil prices. What is interesting is, the decline we have seen is abrupt and concentrated in the Fourth Quarter of 2014. A lot is in the pipeline. Manus we have an article on the yen and the bank of japan. The bay japan is hitting a target of 2 . The bank of japan is hitting a target of 2 . The last time they saw that was in 1998. Is it achievable . I think it is. To be honest, whether we go to 135 or 140, one can debate that. Japan is facing ongoing structural problems. It is highlighted by the fact that real gdp and consumption, as well as inflation expectations, are at the same level that they were prior to the bank of japan initiating the program. That speaks to qe failing to do anything. In general, it irrespective in general, irrespective of in gauging or not, in gauging or not, they need to work on the yen. Engangging or not, they need to work on the yen. Mark do they need to take into account the strong dollar in their deliberations . As far as the word patience is concerned, we can expect them to drop that. Not just us. Pretty much everyone. A lot of that, pretty much all of that, is in the price of the dollar. We would need to see a hawkish build somewhere else for the dollar to get a meaningful boost. As far as the fed being impacted in the decision with the language or the timing i would say a couple of things. First of all, it would be unusual to use the dollar on the statement. This is more likely to be reflected in the minutes that will be published later. The second thing i will say is, yes, the appreciation has been steep, by historical standards. The level of the dollar is not completely unprecedented. The other thing we need to take into account is the u. S. Economy not being like other economies. That means the filtering through the export channel into the real economy is quite lower, compared to other economies. At the end of the day, payrolls if you look at the trend a basis, is raising by 300,000. That is the highest since january 2000. The output gap is diminishing. The fed analysts will wake up tomorrow and see the increase. The fed will see through that appreciation. Anna some people are drawing parallels with a time of appreciation in the dollar the strong and not having seen this for decades. We have not seen the strength of the dollar in this particular period since this time. Our Historical Perspective useful . I think they are. When you draw comparisons, as i said, the pace of appreciation has been unprecedented. It is steep. Having said that, we have not really seen a big effect on the u. S. Economy. At the same time, what was mentioned before, oil prices will boost real demand and, if there was a negative impact to the export channel, i suspect it will be largely manus one of the things that caught my eye was that you were more ambitious for sterling the rest of the market. Is that smart timing or hopeful thinking . What we published recently we said the next 1. 5 months, in the runup to the election, it will be increasing volatility and a downside pressure. The fundamentals in the u. K. Are strong. The gap between the timing of the fed and the rate hike is the second thing. Mark porsche takes on elon musk. Can the luxury carmaker overtake . Manus youre watching countdown. The dollar desperate times call for desperate measures. Yesterday when the manufacturing data was out, a little bit disappointing, they sold the dollar, doing anything to hold on to cheaper rates. Lowest since 2009. There was a little bit of a shake in the dollar. Youre going to see this level of the dollar. Dollar yen we just had unicredit in here saying it is just a matter of debate. Q. E. Has failed in japan. Thus far in terms of benchmarking the numbers from where they started to where they are. It is probably going to take more. That is the view from the markets. Would have made about 20 . The question is yen still your funding currency of choice . Dollar yen needs to get to 1. 40 for them to achieve a 2 inflation target. When it comes to minutes and the meeting of minds, the aussies told us what they thought on march 3. The current set of growth and inflation forecast suggests a need for further easing. However, i love what r. B. C. Said. The aussie dollar dropped ever so slightly. Blackrock said get ready for an 8 drop. R. B. S. Said it is firmly intact. They want to keep the maximum pressure on the currency at the moment but there is a little bit of patience. A little bit of patience and tolerance goes an awfully long way. Anna . Anna thank you. It may be the smallest division at Goldman Sachs group but it is performing well. They are expecting to see a 10 growth in the foreseeable future. The Strong Performance comes after three years of mismanagement and returns trailing behind. Chinese billionaire is considering a commercial property growth at curbman and wakefield. Cushman and wakefield. The owners are seeking about 2 billion. Blackstone group is buying major stakes in Hedge Fund Firms looking to cash out. Most recently they bought a stake in an Asset Management company. They have raised more than 3 billion to buy stakes of 15 to 25 in established hedge funds. Mark lets bring in chris for the conversation. Chris what is behind this move from porsche . Guy well the luxury car has taken notice as a desirable brand and aspirational brand and they are all trying fight against that. What porsche is doing by rolling out, planning to roll out the Pure Electric car. It is targeting teslas emergence. It is also a play against regulation. In certain markets like china and california you have to have a Pure Electric car in order to keep playing the game there. They need to have electrics out there available to the consumers. It is also to counter teslas rise. Mark is this move unique to porsche, chris . Guest no, it is not. Por that belongs to volkswagen. Audi plans to roll out an electric s. U. V. Coming out by 2018. Porsche by 2020. B. M. W. Is already if the market. Tesla is starting to ramp up the factory. Production is going to start there. By 2020 they want to get to 25,000 cars. This is a move by a big player in that space where tesla plays in the luxury segment to counter teslas rise. It is a pretty significant move. Volkswagen is going into electrics. Mark do we know anymore details about that car, what it is going to look like, how much it is going to cost . Guest we dont have details on what kind of electric car it is going to be. They said they want to roll out their seventh model and have given us hints about what direction it could take. It is going to be a direct attack at tesla. Like the audi will attack the model x. Porsche said they want to go with a sports car at some point above the porsche turbo. That will be what they call a ferrari fighter. It could be an electric sports car like that. We still dont know the details and porsche is keeping us in suspense. Mark thanks a lot. Lets shift the to douse the u. K. Economy. George osborne is expected to unveil tax breaks for britains oil industry when he announced the governments budget on wednesday. They have been hit hard by weak oil prices. Bloomberg spoke to three people at the heart of the industry to talk about the risks and the opportunities facing the north sea. Completely starved of investment. I think that unless something is done this could be this could be a could create demise of the north sea i havent knelt concerned and anxious about it since 1986. 1986 is the worst ive experienced in 30 years in the industry. Production has come to fruition. I think see a lot closing down and many leaving the industry. Ive been through five of these. What will happen is the gelt busier than ever. Get busier than ever. They have got flabby. They have got fat. It has been a bubble. If the bubble bursts, do we end up looking like here. It is another persons opportunity. A private equity firm, the owner said to me recently you to love the downside. Actually you can create a lot of value. Separates the men from the boys. If we want to get through this difficult period healthier for the future. Anna you can join us in conversation for the future. We head to the budget tomorrow in the u. K. That is going to be 123 of the topics were discussing. What is the action the chancellor might take to boost the Energy Sector in the northeast. You can find me at annaedwards news. Manus cranny at manuscranny. Mark top stories on bloomberg at this hour. Australia says another Interest Rate cut could be needed. They have below average growth if the economy. They last cut rates in february. Angela merkel reiterated agreement for a ceasefire in eastern ukraine. Speaking alongside poroshenko, said sanctions against russia are still on the table. What happens if it wi