It paves the way to grade the uks biggest wireless provider. Mark welcome to countdown. Anna lets get to our top stories. The two food giants giant and craft meriging with heinz. 3g capital is a Brazilian Private Equity Firm and they looking to buy into kraft. It is a philadelphia cheese. But the next step would be to merge it with heinz. This would bring together these key players in the food sector. No price tag yet. 36 billion is how much kraft is overall worth but well the deal could be announced as soon as this week. It is interesting because we are getting 3g capital luring alltime favorite Berkshire Hathaway. They have worked together before. Two years ago, they came together when they bought heinz together. They combined to make this big billiondollar purchase the last year, they came together. Berkshire hathaway, Warren Buffett helping burger king by a Canadian Company of doughnuts and coffee tim hortons. That was in 2014. They were together now. Interesting they are longterm players. Clearly, they have been saying they want to Work Together in the future. Warren buffett wrote to his shareholders saying partnering with 3g is the way want to go. Berkshire hathaway has been again for a long time. A longterm shareholder of kraft. They had big stakes in 2010. It was back to win kraft bought cad very. He did cadburry. He said both the is our dumb bdeals are dumb. Going in potentially with 3g capital. The question is the price tag. What is kraft worth . Investors got excited that 3g capital will be looking at the stock. It was soaring 17 after hours. It makes the Company Worth in excess over 36 billion. This will be the question what is the price tag . The our reports the Financial Times is looking at 40 billion. That is 11 on yesterdays overall price on its market cap. It seems shareholders are little more excited with it think it could be 17 higher. Clearly, if you go further. Once again, we can we can see it carry it with Berkshire Hathaway and getting to juggernauts of the food industry. Kraft and heinz. We can see heinz kerry up with kraft over salad dressing. Back to you. Manus thanks for that. Investigators are preparing to examine the black box of the german plane. All 150 passengers are dead. The rugged terrain in the french alps, hoping to find an explanation of how it crashed. French german and spanish leaders have made public statements expressing their grief, expending their agendas and coordinating the crisis response. Angela merkel aris traveling to the site today. The company will visit as well. The lows costw cost carrier is exerting this offense that im. There is plans for strikes today. The airline is working on the assumption that the flight crashed was an accident. Lets go to the site of the Emergency Operations in the french alps. Hanz nichols is on the ground for us. Obviously, it is less than 24 hours after this tragedy game to our attention came to our attention. A great deal of condolences from leaders. What else do we know from this . The black box has been found . Hans that is one black box. The recorder has voice data. There will be searching for the other black box. About 10 kilometers from where they believe the plane crashed it is a pretty big area. Quite a big area spread out all over. That is where that will be focusing their search for the second black box. So many unanswered questions. Mainly, why was there no radio contact for that rapid descent . Cruising altitude about 30,000 feet down to die 5000 feet. Had there been something catastrophic that happened . You would have seen that this didnt happen in three to four minutes. It was rapid. It was not as rapid as it would have been its something catastrophic happened. The time difference, the other question is why was it the french radio, radio cap it Traffic Control was the one they contacted the cockpit . They noticed the deceleration. It was radio silence back from the cockpit. We know little about this plane, right . We know about the pilot. It was a 19 at one plane 1991 plane. A pilot was flying it who had over 6000 hours of experience. The plane itself had been recently checked up ful al and complete in 2013. It was routine maintenance. Border safety wise we will be learning more today. As condolences continue or what is a mass grave site of a few kilometers away from where i am standing now. Manus . Mark manus hans nichols reporting live. The operation, the rugby rescue operations are being from. Anna our top stories the ecb as band greek banks from doing debt. That is a concern by the government is funding itself by il l manners. It puts more pressure on greece. The billionaire bought it for 1 6. 2 billion. The biggest u. K. While his provider. 9 billion cash up front. Telephonic access the transaction to be completed by june 26. Brazil is trailing back the support of the program will not be enough to prevent currency swings and volatility. It is the end of this month. Real plunged 26 in the last month. Manus we are both on twitter. In terms of what i had been having a look at not looking at the board exchanged, Goldman Sachs says the u. S. Job growth has been running too hard. What does that mean for the dollar . Anna keep it with us on twitter. Coming up next, the u. K. Chancellor has some tough words for greece. Indeed, money. We will tell you what he said after the break. Greece should not have joined the euro. I think it would very difficult for them to leave without dramatic impacts on greece and the eurozone. Anna that was the u. K. Chancellor on look obligations on the complications. We are still the first month of the ecb program. Our next guest says qw is not going to work qw is not going to work qe is not going to work. Thank you for joining us. Lets look at what is happening with greece because we had a breaking news last night that they would not be able to load up on shortterm debt. Greece is worried their funding the state. Is this something you agree with or happening behind the scenes . It is happening behind the scenes. There is a country with enough debt and not enough income. It is not a good situation, but i think it typifies what the u. S. Has been dealing with with years which is you have too much debt overhanging these economies. You cannot grow into you deal with it. No Interest Rate is a backdoor way of taking value from savers investors they by dave without actually dealing with day by day without dealing with it had on. Headon. Generally speaking the politicians in the u. S. And europe do not want to deal with it. Everyone pays the u. S. Is so far ahead but we have millions of americans who live in homes were underwater and it cannot be sold because they are in debt. It is really an endemic problem for all the nations. Manus then the germans are tackling the greek problem presumably in a blind fashion because from what you just said there has to be some debt forgiveness. George sorsos says there is a 5050 problem of getting out of it. Are they handling the greek situation . I think they are. We can go back and talk about versailles. The germans seemed to have forgotten about it. You get more growth when you act in a benevolent way instead of tapping your foot and saying pay me back every penny because they cannot. It does not take a Rocket Scientist to look at greece and realize the countries that kurt is on the verge of default. Anna when you are looking at manageable property, you are saying quality of easing is not going to work. The flow of credit going to the corporate where it is needed . Quantitative easing is a next step. The whole point is a transfer value from savers, from those you did the right thing to debtors. Subsidizing getters. In the u. S. , it is over 1 trillion a year we taking out of the pockets of ground ball and pat grandma and grandpa. When they start to buy securities through quantitative easing, they are pushing of asset prices, hoping the change in investors. You dont see income and gdp grew up as well. You cannot validate those prices. What happens to the asset prices . They go back down. We have a situation in the u. S. Where as the fed tries to move toward some sort of normal Interest Rate policy, you can have bonds and stocks decline. It would not be like as it has been in the past. Many analysts have broken down because we have such a huge degree of government intervention. We also have a market. The u. S. Is fortunate because the market is working well but in europe, it is bank driven. The economies do not 67 of the credit europe comes from banks. Manus the banks are nomar near nowhere near cleaned up. To a certain extent, Balance Sheets, reorganization you have a fairly negative view on the u. S. Banking. That are have enough capital that is not profitable to generate capital. Dont forget, the u. S. , the u. K. We have this notion of offBalance Sheet finance. We have a lot of problems that went. Dothe wrestled the role does not do that. Lets be fair\ the crisis started because we were hiding liabilities. One morning, investors awoken they said all my, and they ran out that door. The u. S. Congratulated some thousands as there is on a capital but at the end of the day, both nations have a debt issued they cannot deal with yet and it is because of the politicians. The central bankers have done their part. You cannot fault the fed it is just goes they keep doing what they do. We have had low Interest Rates in the u. S. Since the beginning of the 2000 spared the goes back to thousand one. We had the same policy the whole time. Congress has been unable and unwilling to act on a number of things. You cannot restructure a mortgage. In 2005, the congress pervade tht. At. We had to take a hard look at all these countries. Do we want to start another were . I dont think so. We need to find ways that can grow our economy. Anna meanwhile, we have companies sitting on piles of cash. Investors with a resilient private Equity Companies merging with heinz and buying European Assets. How was that painting a picture for Corporate Credit . Is it working for good or for a negative sum . I think investors are doing what they can to build value, kraft has a lot of brands but still very steady cash flow. We see this all across the corporate sector. There is a lot of money getting to be put to work. If you dont get income from those assets, you dont validate the valuation. The fed has succeeded. Asset prices have come up. How do we generate income across the board to make those valley beaches valuations anna is half a percent not enough . You have to take those the sixers with a statistics with a grain of salt. The housing sector a quarter of the do mortgage lending we have done over the past decade. It is because firsttime homebuyers are not really participating. We had a balance and housing because of investors. The fed managed to have investors the run and singlefamily homes which makes sense. It is a singledigit visit. Capital is being forced to chased opportunities like this because it has you dont want to on treasury bonds. That is the the dilemma facing investors today find goods and opportunities that make sense. Anna we will look at the Housing Market more so in the u. S. Thank you for discussing that with us. The senior managing director. Thank you for making the trip. Manus we have been bringing you the latest. We asked questions whether traditional advertising is the relevant. Stay tuned. Anna welcome back. We will take you now to life pictures of the Recovery Efforts of the crash site of the german flight that went down yesterday and the french alps. The plane was carrying 150 passengers and crew. The french Authorities Say there is no hope for survivors. The airline has provided more details of the plane involved. The maintenance standard is very high. As long as you have your maintenance in place and all the procedures together with the manufacturer, there is no issue with the age of the airplane. Manus bloomberg has brought you covered all week of one of the biggest advertising events. It is Adweek Europe 2015. We asked people for their take on their take. We asked people for their take. Advertising is more driven by ever. We need to rethink how we buy advertising. It cannot be any more on a quarterly campaign basis. Need to be on plan with partners. I think advertising is more of a lead prevalent relevant. It is great to have a combination of traditional advertising you need to know what they are going to see them what they will act in order to drive them. You dont have a never ties the agency at the moment. It is more focused on how you do Search Engine optimized vision. I you get your brand recognized. Is not really about above the line marketing or being on a banner. I think we nailed the tone and it is about people being engaged. Traditional advertising is one of many tools we use. Advertising cinemas, radio tv. Stores. A story about music we want to tell everyone about. Secondly, we fund a lot of our programs. It is critical we talked to traditional advertising and explain to them and complement what they do today and region audience that are not the easiest people to talk to. The consumers and then the drivers. What we find is most effective is actually wordofmouth. We get a large portion of our customers signing up because they talk to a friend or the governments or as a first ride promotions or they get a first ride. Anna coming up, we go back to the tragic story of the german crash and we look at the model of the plane coming up after the break. Just because im away from my desk doesnt mean im not working. Comcast business understands that. Their wifi isnt just fast near the router. Its fast in the break room. Fast in the conference room. Fast in toms office. Fast in other toms office. Fast in the foyer [pronounced foyyer] or is it foyer [pronounced foyyay] . Fast in the hallway. I feel like ive been here before. Switch now and get the fastest wifi everywhere. Comcast business. Built for business. Manus manus 7 30 in europe. Lets see how the markets are looking at the dollar. He saw the count of living an inflation indicator the fed will be watching come up a little bit higher. Homestudy sevenyear high. The dollar is clearly unchanged. 97. 15. You saw that spike higher on the back of the u. S. Data. Today will get durable goods. That is expected to rise by. 2 . You will see Goldman Sachs view that we have run so far ahead of ourselves and the jobs data that it is going to have to soften. Mr. Bullard yesterday evening with saying the markets need to get their act together in understanding where the fed governors are on policy because the markets are behind the fed. The market says the rate will be about 5. 5 in december. The fed, according to their dots , will be at. 625 . There is a dislocation and it could be a violent end, according to mr. Bullard. Lets take a look at the euro. The euro is virtually flat on the day. Bumping along at 1. 09. It is trying to get through 1. 10. It is not going to today. Speaking at the central bank and no reaction so far from the European Central bank taking measures to ban greek banks from buying more greek government debt, squeezing the greeks into a position of where they may have to capitulate. When it comes to defending your currency, sometimes in life the best thing is to call it quits. This is the real. If finish yesterday at 313. 77. They have been defending and defending every friday. Every friday they have tried to defend the currency. Goldman sachs is support is a financial liability and the secondbiggest losing currency. Only the ruble lost more. Caroline thank you. Lets kick on breaking news. A little luxury for you this morning. Just missing analyst estimates. For the failure, 2014 for the full year, 2014 was just ever so slightly shy. Operating income came in at 1. 2 9 billion euros, slightly down from the estimate but they are proposing an exceptional dividend of five euros per share. They also have a regular dividend of 2. 95 euros per share. Shareholders probably going to be happy by that rather hefty special dividend. Across the board, you are looking at a regional breakdown across regions. U. S. Strong, japan strong europe up 7 . This is a company able to weather the storm better than its peers because of its exclusivity, its limited appeal, its limited supply. It has written out the storm of slowing growth better than expected. We are watching for dropping prices. China is a problem. Watch sales are down 11 . Textiles and silk are good but watches seem to be a problem. 2014 sales will be up around 8 excluding foreign currency changes. That is short of their mediumterm outlook for 10 growth, but a company that is slightly better and able to give money back to shareholders. Manus thanks for that. Lets get to our top stories. Barack obama says he will not be behind the u. N. Led push for palestinian statehood. Such a move would be contrary to u. S. Policy historically. Singapore is inviting for people to view the coffin of a former leader until saturday. He is considered the founding father of the country and let the economy through a prosperous transition. The bank of chinas highestpaid executive left his job and there are pay cuts being imposed on Senior Executives at the chinese lender. Chinas government said last three would reduce salaries for executive at stateowned companies because of public opposition to what they call unreasonably high incomes. Manus lets return caroline lets return to france and that tragic accident in the french alps. Andrea, this is germany morning, this is spain mourning. This is france taking on its role in talking to the voters yesterday of tragedy on its soil. What do we know now . Andrea we dont have a lot more information that we had yesterday. We know we had a plane cruising at about 38,000 feet, which is standard cruising altitude, but it stated that level for one minute and began descending rapidly, that to about 5000 feet without any communication at all. It was impossible to get in touch with the plane. It was the air Traffic Controllers in france who had to call the emergency. We had many, many go ahead. Caroline sorry. You carry on. Andrea we had hundreds of military gendarmes trying to go to the mountains. It is not easy to access.