Manus 1 million in breathing room from that ecb but the verdict is still out as to whether greece and be trusted to come up with adequate Economic Reforms before monday. Caroline i am caroline hyde. Manus i am manus cranny. Caroline coming up one heartthrob leaves the richest boy band in Music History. He says he is ditching one direction but will the four others carryon to make more megahits . Stay tuned, that story is coming up. Straight to manus for a quick check on the market. Manus this story sounds very reminiscent, lets talk but something slightly closer to my heart which is the equity markets, you are looking at two big global themes. One is holidays geopolitics the numbers were much worse than estimated. Durable goods were down one point or percent, jpmorgan has a comfortable growth target, have a look at the bottom of your screen, the philly semiconductor index. That is the Biggest Movement in that interact index. What is happening in the Technology Industry . Look at the longer term and you understand the turn down back to futures. Indicating 2. 38 in the dow down 1. 6 at the moment, the nasdaq at its worst day in trading in 11 months yesterday. The s p which was below its to date moving average, the dow jones wiped out 300 points. So the s p down and nasdaq work 1 away from the record highs. S p has gone 26 days without a back to back set of gains. That is the longest losing streak since 1994. It is the edifice of roaring bull markets in United States of america to getting to fracture. Our valuations stretched . Admin will join us later on to discuss the the. Equity markets are under pressure. The geopolitical play comes in the form of oil. Headlines begin a military operation in bombing in yemen, there are reports of Ground Forces on the borders to the north of yemen touches saudi arabia, the critical issue for the oil markets. Nymex is up 3. 6 . Brent has been rising for ive days, we are up 3 at 58, . 25. I want to show you a map of why we care. It all comes down to this, the critical geographical point of where oil travels, 3. 4 Million Barrels of oil. The bottom lefthand sign of the screen. That is where 3. 4 Million Barrels of oil go out every single day. If conflict arises to the south of yemen, that is the geopolitical risk at play in the markets. Your rent up 3. 13 . Nymex up 3. 5 to one dollars for cash, rounded up. Gold is also up, 11. 99. We did make it above 1200. The longest stretch of gains since 2012. Geopolitics causes deep rooted concern. Yen is ranking against every major currency that we cover. This is dollaryen, 118. 88. That is the wrap on the markets indicated lower on equities, oil is rising this is decidedly an incredibly tense situation. Back to you. Caroline we will focus even more on that tension in the middle east, lets focus on one of the factors cropping up. The oil price. They launched airstrikes against rebels who were advancing on the southern port. Prompting president , elliott docket has more. Bring up the latest. Elliott this operation led by saudi arabia back in more than 10 countries and among them the gulf allies and the likes of egypt, it began at 7 00 p. M. New york time 2 00 a. M. Local and the saudi ambassador to the United States and out like the principal objective of the mission collects we will do whatever it takes to project a legitimate from falling and placing any dangers from an outside militia. Elliott saudi arabia says it has committed 100 planes and 150,000 troops. They are providing logistical and intelligence support as well, as well as trying to help the president of yemen who was already forced to flee to avon and has since gone underground. The also say that they want to prevent yemen from being overrun by these militants and becoming more of a haven for the jihadists and the like. Al qaeda already has warmed Firm Foothold there. This ranch at al qaeda claimed responsibility for the Charlie Hebdo murders among other things. Little concerned about where yemen was going and saudi arabia trying to stop it sliding into civil war but even from becoming more unstable and forced instability across the region. Caroline its not the biggest oil water but the conflict there is having a big impact because it is right in a crucial area for oil in the middle east. Elliott f manus was suggestion it is the 39th biggest oil exporter in the world. You will not notice the stocks coming onto the market, you will notice if the instability in the situation escalates to a level where by for example shipping which brings out 3. 8 Million Barrels of oil a day down the area, if they cannot it through it will also have hurt shipping going to and from the suez canal forcing shipped to go around the southern horn of africa adding to time and cost. It is more a geographical location which orders with saudi arabia the largest oil exporter. Those are the main concerns rather than the actual oil that him and produces and uses in exports. Caroline incredible pictures being brought to us, thanks you to elliott. Manus one of the pilots may have been locked out of the cockpit before the plane went down, that is according to the New York Times. Details emerged and investigators analyzed the voice for earnings from the cockpit found at the scene, the site of the crash, the search for the blackhawks reporter that registers flight data and could provide further details that continues today, for more lets get to Andrea Rothman. A good morning, lets see these reports from the New York Times obviously it is very early to speculate exactly what happened what more do we know on the back of these reports . Yesterday they said they had heard voices which were significant because it means the pilots were not out when we asked did you hear the pilot or someone else he wouldnt specify. You have to remember there are two pilots in the cockpit, and anyone moment the pilot was out to go to the bathroom, the cockpit door has to be locked. There were rules that were put into place after 9 11 because of worries about an intruder billion that make it openable only from the inside. We can suppose that one went out to the bathroom talk to you and he asked if he was unable to get back in the pilot had a problem. The big question is did the pilot have an illness or heart attack or something wrong with him or was he for some reason not wanting the other pilot to come in, i have no idea at this point and to be honest we havent even confirmed for sure that the pilot was locked out, we should get more today. Manus we know that one black box has been recovered, but damaged, what do you think we will learn today and obviously we saw merkel and mccoy attending the site yesterday as a mark of respect. Families are beginning to be brought to the site, run us through what we know about today. Andrea the big thing we are hoping today is to find out what happened to the second quarter. As of yesterday they only had a little broken piece of it. They are still combing the site to find the rest of it. If they do find that second box they would at least be able to start looking at the parameters of the planes systems, to see what the plane was doing and who put in the order for the plane to go down unfortunately that is not going to explain what was going on in akaka and why they would not open the door. We will do our own reporting to get people to confirm this for us, another thing we dont know and i dont think well get to this today is the name of either violet. In some past sins, airlines have chosen to release the names but in this case fan given no indication as to who was behind the controls. Manus we will return to you throughout programming. Caroline lets turn our attention to greece. The European Central bank provided one Million Euros in central hunting. This raises the ceiling to just over 71 billion euros. The news comes as euro area governments gave greece until monday unlock the remaining 7 billion of its current bailout. The governor of greeces centralbank and governing Council Member urged greek governments to enact broader Structural Reforms. Grexit is not an option greece with a reason that the competitiveness of the Greek Economy has been restored over the past five years through evaluation and broad reforms in the labor market. Hence grexit would deliver no benefit but a lot of pain. For more on that timeline lets get to paul gordon in frankfurt and he joins us iphone, one is about the tensions that are clearly holding and whether the Structural Reforms that the central banker of greece is calling on will be made by true the greek government. This is the hope and desire of the ecb, this is why the ecb continues to extend incremental amounts of emergency liquidity assistance on a weekly basis. The latest increases mean that the ela is up by more than 10 billion euros since greece was cut off from regular financing operations. They are still not huge amounts. All the ecb is trying to do is to compensate in a positive outflows, which have been caused by true the uncertainty of the greek reform, but not to give them so much money that they can effectively bail out the government on their own. He probably has to do that. By saying last night this is an historical opportunity for the government which should not be missed. He said stronger reforms are needed in the option is to implement them and he says they would he backed by a large majority of forces in the country. He said the government is very close his words, to an agreement. We are not hearing the same optimism from the other countries at the moment. Caroline anymore plans for talks, we understand that we have the meetings between merkel and the Prime Minister earlier this week, but will there be far more meetings and calls going on because the clock is ticking. We have until monday. There have been a lot of deadlines as you are aware we will see what happens on monday when it arrives, but certainly the pressure is now on greece to come on monday with a set of proposals which are inadequate to allow further rate disbursements. There is at least 1. 2 billion euros on the table at the moment. Greece has got expenses coming up, 1. 5 billion euros of tension and salary payments. The government is taking cash from the republic and it could be weeks before they run out of funds. The ecb is not going to cover that. There only one to cover the positive outflow so some kind of deal has to be struck as soon as possible. Manus lets get you up to date with some of the top headlines. There is a deal with boeing. The order is valued at 7. 7 billion and the move comes as chinas or the largest carrier pushes forward. Facebook is opening up its applications with other Software Developers and at features, apple plans to introduce tradein programs for iphones in china, that is according to people million with it. Customers will be able to take older iphones out of stores in china and credit against the companys policy areas caroline join the conversation on twitter and the technology news, the tech selloff and chipmakers leading declines in stock market. Let us so your thoughts. Perhaps not too many on one direction. Manus i am illustrated. Just want to look at the map of the spice girls, didnt make money, up next, much more important issues, well talk about reese and debt. We can only talk about the problem stay tuned for that after this message. Manus joe in our u. S. Office. He summed it up quite nicely. Lets talk about with our next guest about what he thinks in terms of greece and the eurozone, he joins us now or it there is nothing prophetic, even that debt to gdp is roaring, the emergency funding and the emergency lifeline run the ecb, theyre up at 71 billion, where are we in this, is this the crunch time and what is your view in terms of contagion . Where we are why i thought the greek governments had until the second half of april before runs out of cash, in terms of the deadline to provide the greek government as opposed to the greek banks with funding that is really going to be it. To have a little bit of time before they have to draw the next bank and start kicking that can down the road, the new governments cop located. There is clearly a conflict between what the eurozone finance ministers and what the new week government has promised. You do have that conflict between politics and economics and finance are which we are not sure how that is going to be played out some a there is a little bit of time at least for greek governments to persuade the finance ministers eurogroup to start releasing some of that cash on the second a lot. Caroline you are not standing by this monday deadline that the company got in place that they need a full set of Structural Reforms and be up to scratch in terms of what the finance ministers want to see . Whether we get enough detail isnt clear, the government did provide some sketchy details with a say we will extend the second bailout to june and now it is debatable exactly how much detail and regularity they have to provide, of course its different from the policies that they promised so there is plenty to play out of the second bailout, then of course when you get to june, our strong view is despite what the greek Prime Minister says greek greece will need a third bailout, to get back to the start of this where what he wanted do for a 3050 eurozone theyll up, you can get back to policies again we might even be looking at a second greek election if the demands from the eurogroup and the rest of the eurozone are too great for the greek government, i did this at the top of the show, it is amazing how, on the turn of a dime the geopolitics can reallys markets. Here we have been defending the legitimacy of the government in yemen, Oil Spikes Higher brent is up, wti is up, this turned the oil story and this is potentially something that unsettles all of the arguments about disinflation. If we move into a higher conflict areas in the middle east. Elliott a couple of months ago arise in the oil prices was good with the stock market. If you remember back to the beginning of the year when everybody was really worried about the nation and oil prices sinking, it is a poignant reminder that there is a great deal of potential and instability in many places around the world, the important not just of a small nation in a geopolitical situation but a geographical location is where it is affecting transport volumes. Caroline how does this hit the likes of the u. S. Economy, we soul saw durable goods fault yesterday and you can see the repercussions of a much Lower Oil Price and also making the strong dollar a key headwind when it comes to wanting to buy goods. Where do you see the current situation, what is the outlook . In terms of the change in show in the oil price, that is on the whole good for the u. S. Economy but it does shift the components if you like of gdp away from investments in energy toward consumption. We havent really seen that boost over the last couple of months. On the whole it is good for the u. S. Economy. Theyre not worried about future stagnation in general theyre worried about the economy in the longterm . I think are many accepted that in due course Interest Rates would rise. What we may begin to see is a sharp fall in energy which is having a noticeable effect. How long that will last is open to debate, in terms of the Bigger Picture when you take into account the massive windfall from lower gasoline prices undoubtedly that will drive the economy forward. Manus thank you for giving us your thoughts on greece and the u. S. Caroline thank you coming up on countdown, zuckerberg faces developers. We will tell you what you need to know. Manus youre watching countdown. How are the markets looking . The dollar and the currency markets, this is the trend we are seeing this morning, up a quadrant, what is trending it is jp why, dollaryen. It is the single biggest moving currency. That breaking news that saudi arabia is bombing yemen, it is involved in of calming mission in llama yemen, saudi arabia along with a host of allies troops are massing on the border areas this geopolitical situation is rising, markets are averse to risk, yen is rising against all of its major currency counterparts across the globe, hsbc also this morning saying get ready for more quantitative easing, that might be something that would bolster that, the yen is rising in the dollar is declining as if any to show you enter additional map there is a host of reasons going on at the moment, equity markets coming under pressure, oil prices are rising and that should help, but what youve got is a weaker durable goods number, you have the chief fixed income at Morgan Stanley, they say it is not impossible that they could reduce rates, so there is a whole host of critical issues, dollar is a little bit lower, longerterm Morgan Stanley say that it will rise, sometimes you have to give up the ghost and they did, they told the market we will not stand in the rate way of the brazilian real, this is the dollar up the brazilian rail down. The question you have to ask yourself id away, it is given the moniker of the worst performing currency in 2015. That takes some pretty achievement. What once you have dollar real have to ask yourself, are we about to reassert this upward trend in terms of dollar and downward trend in terms of the real. Caroline lets take a look at some of our other top stories because David Cameron ruled out increasing vat if he wins the major election. The laborer position said on tuesday that he could well increase the sales levy, he will plead guilty to charges that he traded with iran, will pay more than 200 million for violating u. S. Sanctions. It is believed to be the largest criminal fine in a sanctions case. Englands premier Football League posted its first rocket since 1999 that is after it saw income from broadcasting search. Last month they sold the tv rights to sky for a record 5. 1 billion town. That is a 70 increase. Manus facebook is opening its messenger at the developers and businesses.