Welcome to countdown. Im caroline hyde. Im manus cranny. Coming up, another deal deadlock. Diplomats gave differing accounts on what is needed to reach an agreement before the selfimposed deadline. Campaigning for the u. K. General elections officially kicks off today. Prime minister David Cameron is expect it to visit the queen of buckingham palace. Anna edwards has the story. Really it begins without pomp with the pomp ceremony. Yes. The official start. The official start of campaigning. This is in the financial times. This is the advert the labour party has taken out. The threat of an eu exit. Really trying to rehabilitate the image of the labour party with the Business Community on capping energy prices. There is some work to be done to rehabilitate the image. Beyond that, we have that other details to show you what were going to hear a little bit later on. A vote on the eu would be a recipe for two years of uncertainty here there is the europe focus. That could play well with some at least. There are many voices within the community who dont want to see a referendum. At least not the uncertainty that it creates. Labor will promise to keep corporation the lowest. The first move the labor government would take would be to increase it to 21 unit there talking about reforming takeover rules. We will see how that goes down pit want to see some traction. Employees to sit on the committee. We will get more details on infrastructure plans of their backing the establishment of the British Investment bank. A lot of policies coming through. A focus on europe will be at the center. They have been saying it is on the threat, whichever party comes to the helm. Moving on, we have had so much over the weekend in terms of policy. What stood out to you . Lets start with the polling. That has been moving a lot. Not necessarily in that direction you can interpret much. They suggested that the labour party was four points ahead. A bounce in reference to the interview they did. But then theres another poll out overnight you is says completely the opposite. That the labor had no bounce speed and that it was four points behind. I thought David Cameron had won from the initial reaction. Exactly. There was a pull it said he had done better poll that said he had done better. You cannot read all that much into that. The other noise, fascinating things going on in glasgow. The leader of the s p talking and try to entice the 20 put a more favorable image to those who may have been trying to put a more favorable image to those who may have been alarmed. Back the s p. If theres a whole parliament i call on labor today to match that pledge. Make clear so that labor and the s p compliant has more than the tories. They will join forces with us in a vote of confidence to lockette David Cameron out. [applause] very important, of course. Polling suggests we will see labor and a great deal of trouble. Nicola saying they could take everyone. We will see how much success they managed to have. Labor is going to reenact what they did in the runup. Flood scotland in terms of bring back in some of the scottish voices. We could see that. We spoke to the snp. What is the criteria for having another independent referendum . That could be a factor as well. Good another referendum feature in the manifesto . It doesnt sound like it. What they told us was that they were going to see what westminster will be able to deliver before they decide whether there will be another independent referendum. No doubt another top behind closed doors. No doubt another topic behind closed doors. David cameron we have seen both of the major parties, the biggest polling parties, the conservatives and labor, all taking steps. We have David Cameron over the weekend talking about National Health. Something the labour party has been the only ones talking about in recent weeks. Some things i found most interesting at that particular event was how personal the criticism was getting. Critical of his ability to be peace men like enough to be the Prime Minister. This is what cameron said. I know what this world needs. Frankly, i dont think ed some might say, dont make this personal it but when it comes to who is Prime Minister, the personal is national. The guy who forgot to mention the deficit would be the one in charge of our whole economy. The man who is too weak to stand up to the tribunes at home could be the one facing enemies abroad. The leader who thinks leadership is climbing aboard the latest bandwagon seems to be the one making those make or break calls in the middle of the night. Ed miliband making those maneuvers if you like over the Business Community, trying to woo back the this is community. Lets see how the day progresses. Lets see what miliband has to offer. Thank you so much. Lets get to breaking news. We had seen a deal being confirmed. This is a swiss company. It is going much bigger into the world of what you should be dying buying. World dutyfree. They want to raise 2. 2 billion and swiss francs. They want to sell shares. Then got to get their share holder signups for that news. There will be cost reductions of 100 million swiss francs. Overall, they are also getting investments from the sovereign wealth funds in the middle east. 19 countries. They are exiting, arent they . This is where the debate comes from. It comes out of the stake in the company. Premium their managing to get on the share price overall. They want to expand. The key to it all. Lets move things on. Talking about greece. The Prime Minister will go before the countrys parliament to push for more Economic Reforms today. In an interview over the weekend, he warned you will cross any redlines in cutting wages or pensions. We go over to hans nichols who has been following developments for us. Debt deadlines looming. Are the measures going to satisfy them . Good morning. They may not be specific enough. They also assume a 1. 5 or 1. 4 growth rate to get to that 1. 5 primary surplus. Here is what they will be showing. They say they will raise an additional 3 billion euros in revenue. 2. 5 of that will come from the property tax. That is important. Also, increasing the valued added tax. Based on those two fronts, he is moving towards creditors. As you said, nothing on labor market reform. Nothing on pension reform. That could be a dealbreaker. Is what he told news over the weekend in a sunday night interview. It is no prospect of taking any recessionary measures whether cutting wages or pensions are liberalizing on mass dismissals. It is unclear if this was going to be specific enough to relieve any of that seven point billion euros in aid that is still left over in the bailout. The met todays deadline. They met to these deadline on getting a list excuse me wednesdays deadline, getting a list to brussels. And then there is an ecb meeting. They might decide on whether to increase the emergency liquidity. The banks and greece are under great pressure. Have got a big payment. 458 Million Euros due april 9. That is paid to the imf. Later, big payments. Rollover date to consider. April 14. Treasury bills. Three days later another billion in treasury deals. I greek banks going to be allowed to buy this debt . Are greek angst going to be allowed to buy this debt . Will they allow such purchase of that . Look at the risk considered. This is pricing in the likelihood that greece will raonic on their debt will re nege on their debt. We saw fitch downgrade their reading yet again on friday rating yet again on friday. What both assumptions is the government in athens making . They want to restructure the debt to any Growth Prospects in greece. What they are suing is a 1. 5 growth rate. That is for the year. Look at what happened in terms of capital. It is difficult to assume how greece is going to continue to grow if they have all this capital leaving their country. We wont get a gdp indicator until later on in maine. In the month of january and february, tax receipts have been down. Theyre not even in a primary surplus. That is the big question. Are they going to be going fast enough to meet their targets . Will this list be specific enough for creditors . So many questions left unanswered. Thank you. Hans nichols. Foreign ministers from the world powers from you ron are in switzerland in a bid to reach an agreement on the countrys Nuclear Program before tuesday nights deadline. It looks as if we are nearing the end game on this initial round. If there is a balance of putting too much in writing and leaving so much for people to pick over isnt it . That is one of the concerns it both sides are saying the other has got tough decisions to make it both putting the onus on the other one to make more concessions. I expect that in any negotiations. You try to get the best deal possible for your own constituency in exchange for offering as little as possible. The world powers at the Security Council plus germany want a tougher deal when it comes to you rons Nuclear Program, particularly when it comes to the amount of uranium that iran is allowed to enrich. In exchange, he wants to stagger sanctions. You wants the sanctions scrapped as quickly as possible and exchange for making as few concessions as possible. Have gotten tilt more night to reach an agreement for the various comments that you hear from the various Prime Ministers. It could go either way. Looks like it could go down to the wire. Tell us this, what is at stake . For iran it is to have sanctions lifted for that sanctions lifted. For the rest in the west, they seem to be jockeying to move to some kind of more normal relationship with you ron went with iran. Theres a huge amount at stake. Yet that the Foreign Ministers of china russia they United States, britain, france, and i ran around the negotiating table shows you how important these negotiations are. From that iranian respect if the key for them is basing to be an international pariah. They want sanctions lifted. It has cost them aliens of dollars in lost revenue. Billions of dollars in lost revenue did they want to trade with the world once more. They want to get back to the printer of trading relationship they had back to the trading relationship they had. The Obama Administration wants to notch up a big Foreign Policy victory or achievement, if you like. There is no peace between israel and the palestinian spirit if you could get some kind of deal with iran this is the framework deal that tomorrow nights deadline relates to. The definitive deadline is in the summer. The u. S. Administration would be happy to grab that deal. They have been keen to point out that they will walk away from any bad deal. Thank you. Lets see what news breaks over the next 24 hours. Your see. Thank you. Lets have a look at the top stories. Chinas central bank chief has said the rate has fallen too fast and policymakers have room to respond. They have forecasted further monetary easing. Japans Industrial Production fell in february. 3. 4 . The weakest since june. It adds to pressure from the drop in Consumer Spending. In france, former president sarkozy made gains in elections. Voters expressed anger at president france a Hollande Francois hollande. And earthquake struck off pop in the guinea papa new guinea. The warning has been lifted. Join the conversation with caroline and i this monday morning. 6 18 a. M. In london. Never has the market ever been ever in history of data been so short of euros pretty like it you some sense of what is going on on the greek story. Not sure what you treated. Join as pit we are there live join us there. We are line. Live. Indeed. The country could see more stimulus. We break it down for you. Please stay with us. And ed miliband. We bring in the first interview of the date right here. Welcome back to countdown. Tiny stocks are rallying to the central bank china stocks are rallying. The slightest whiff coming from the peoples bank of china, that growth might fade a bit. The us stocks are roaring. the best in 2015. Right. The nations growth tumbled a bit too much. China does have the room to respond to that. Further monetary easing is on the way for china both in Interest Rates as well as quantitative easing lets take a look at what he also said. They will be looking hard. They need to be vigilant. They will see if deflation is going to happen or not. Analysts are expecting more Interest Rates cuts as well as a cut in those triple rs. Lets talk about the reaction overall. Stocks were heading to the biggest gain this year. Some local Fund Managers scheme seems to be trying quality shares ahead of the stock in a. On friday, we learned more about the new policies coming out from that regulators. We also saw big movers. Infrastructure stocks. Financial shares. Some of the biggest movers today. China can still offer asian nations trade and investment opportunities. As well as an Asian InfrastructureInvestment Bank that they think could help bolster the economy. At think the other thing that many people locust in on focused in as well this is one of the big issues, isnt it . They are inching towards not exactly free float, but a more relaxed view on the currency. That is right. Adding more speculation that they do want this in the reserved basket. I also want to talk about this index. Before he even took the spot, he talked about how he measured gdp growth not buy this numbers. He said those numbers were men made. He wanted to look at three different things. Bank lending, a change in that rail freights, and electricity consumption. When you look at the index, growth is under 4 . It is below the 7 ddp the nation has seen. The same pace as the u. S. Economy. Aegon, thank you if yvonne thank you. Coming up, the corporate angle on numbers. Down 20 in terms of profits. Absolutely. Movements in asia. Middle east and japan starting to improve. I will get you one for your birthday. More in a minute on bloomberg. Dont go anywhere. You are watching countdown this monday morning. Lets see how the dollar is performing. This is right in the middle of tried to make a decision on where it wants to go and continue to rise. Janet yellen spoke late on friday evening and telling the market youre probably going to see rates rise in 25th team. It probably wont be like any other cycle of rate rises in recent times. It didnt exactly explode the dollar. The question that one needs to ask itself is whether that huge push in the dollar is overdone and whether we have priced in what is going to happen. It is jobs day. What may be the first to tell you it will be wrong in your ears between now and friday. 245 is the number that is expected. That is the dip from last month. The dollar is up i a third of 1 . Have a look at the euro. The euro is coming up a little bit lower. Greece will deliver a proposal as we hear from constant. What will they deliver . We have got 82week rally. The euro 1 . 14 of its major peers. The market has positioned itself absolutely to the balance on the dime side. The market is betting against the euro. It is a record short position. That is according to the cftc. Keep an eye on the yen. Have got that little bit. I mean, it has moved. It is a must like a radio voice on your iphone or cell phone. 119. 19 is where we are. The debate will be we are next. The cap telling you i kept telling about this opportunity that was trying to get through this 120 level and failing and has done for number of occasions. Does that mean that more connotative easing is well priced in . Caroline, back to you. Is get a check on the top stars lets get a check on the top stories. Goldman Sachs International paid its employees on average about over 537,000. It has cut them out revenue has paid a plea since the financial crisis. Employees since the financial crisis. They will invest as much as 5 . So take a holding in a new stock trading venue. And under service attacks. The san franciscobased service that helps Program Share ideas says last night it is detecting attack traffic. It may be an attempt by china. China central bank chief says the nations rate has fallen too far. The statement was broadcasted for further monetary easing. Lets talk about the corporate impact in china. It is in fact in luxury goods makers. Deborah aiken joins us. I caught up with you at another part of the building. What is going on . A drop in profit. Mostly yeah. You have to look at europe and the context of currency implication from last year. China is still negative. The second half in q4 is less negative. Right. In terms of china, it is in hong kong that seems to be the Sticking Point . It is. If we look at the numbers, i think tourists were down. When you look at product numbers you could see presumably. The currency is the big issue here is a europe . Big issue here. Is it europe . The currency following the currency. Where you can get more for your money. Absolutely. Tiffany said 40 of sales are from tourists. That was down significantly. You saw difficulty with the u. S. Dollar and what was happening at tiffanys elsewhere. A huge performance from european countries. Tourists expected to come in. Theres a lot going on in terms of where terse are moving. How long do these trends ride out for . Perhaps the easing were seeing in china or hong kong. It depends brand by rand and how quickly brand and how quickly they are bringing in new products. As manus said they didnt have enough accessories at the lower price point. Below 500 were seeing more difficulty. They will bring out new products at those levels. What is the risk . What you have got is if you see someone else walking down the road with a product bag that is 500 and you pay 2000 suddenly that unique experience of owning a very luxury product dissipates or am i being snobbish . [laughter] dont answer that one. [laughter] it is about the brand managing across different price points and categories within the price points. They have done it for a long time. They do it well. Absolutely. We can move from having seen what has happened with