Mark welcome to countdown. Caroline im caroline hyde. Mark we look ahead to the last u. K. Gdp release ahead of next weeks general election. Manus we are waiting for numbers which is going to be health care and consumer business. There radically they radically changed the shape and focus on the 25 Million Health market. We are waiting for those numbers to come through. Organic revenue, we are waiting for, but expecting just over 5 billion euros. Lets keep an eye out for those numbers. Meantime, there is only one corporate story and that is apple. Barn storming numbers all due to the iphone 6 and 6 plus sales. Caroline has the breakdown. Caroline it was a blowout in the second quarter, fiscal secondquarter. They have yet more cash to splash. 70 billion. Lets look into the stellar report because profit really did escalate. We saw profit jumped some 33 bringing in 13. 6 billion. That beat analyst estimates. Sales went up 27 . It would have been even higher if it was not for the strength of the dollar. What a phenomenal amount of money. You break that down that means by the time i finished speaking, they have already made another 1 million. They are making 644 million a day. The upbringing and almost half a Million Dollars per minute. It is allowing them to bring that money back to the shareholder. 70 billion is the boost they will be getting in terms of buy back. Increasing their share but also boosting their dividend. Capital being returned to the shareholder. Lets look at the Drivers Behind these phenomenal numbers because was all about the iphone 6 and 6 plus. Sales up 40 if you are looking at the jump, but it was really china outperforming. They dont give us a breakdown in the numbers but we did hear that for the First Time Ever sales in china beat of those of United States all because of giftgiving that went on in the new year. 71 surge in the sales in china. There was also some good numbers coming from other products. The mac sales up some 10 . They are able to see the other products are flying off the shelves. Interestingly, we dont get the numbers for the watch. That comes next quarter. They say at the moment customer response is great. They are working very hard. Lets look at some of the challenges this company faces. You would not think there is any but the Dollar Strengthen is likely to bring more pressure in the next quarter. They said profit would have been 33 higher. They were up by 27 if the dollar was not so strong money from International Sales would have been better. We understand some of the hedging that has been protecting the numbers, they will expire says the cfo. They are likely to see a bit more pressure from the Dollar Strength. Also, the ipad, the tablet, a product they invented and brought into the mac market several years ago. Ipod sales are d own. It is the fifth straight quarter of decline we have seen for the ipad sales. Tim cook is trying to brush off these issues. Hes saying is not being cannibalized. When you have a much bigger phone with the iphone 6 plus did you really need a tablet . Tim cook is saying we will see a return to growth for the tablet for the ipad. We will invest in the product. Corporate sales will go up. They bought ibm. Their life it is see Corporate Sales pick up. Also, china is not saturated when it comes to the ipad but it is a worry. Also, perhaps the watch. Limited supplies that they are trying to rectify because demand is outstripping the supply. This is a new category, new type of product. Also margins, profitability could be dragged down slightly by the watch because they are less than for your buck and they say the margins could be easing. Overall, this is a company on the upward trajectory. We have seen the share prices near record high for the entire quarter. 773 billion market cap. That is enormous. One of the most valuable companies in the world but carl icahn said he could reach 1 trillion. Mark lets give you breaking news from dutch Consumer Product companies. Phillips stock is up. 5. 3 billion euros. The market estimate was 5. 08 billion. Language coming from them says it is modest sales growth. I wonder why that cautionary language is being you. Used. 2016, the target are in check. Growth at 4 . This is a Company Going to radical transformation which is already setting up to standalone Lighting CompaniesLighting Solutions which is the core business. They are on target to sell the business later this year. They say by 2016, by the first half of 2016. The vehicle that they sold off the private equities and received 2. 8 billion for that. It will keep a 20 stake in that business. The standalone businesses are good to go. Cautionary language, moderate sales for 2016. Sticking to the 2016 targets which is all about health and consumer. We are getting older and there is more of us and they want to look after us in much better and much more timely fashion. So just to let you know, the earnings the adjusted earnings up 327. Million i will million. That is the state of phillips. Mark bp ands on mobile reporting earnings this week. We will see if the Companies Continue to get ahead based on oil prices. They are predicting it to make the industry rightpe for takeovers. What are we watching . The expectation among investors is that adjusted profit, the metric that is used for bp, would come in and 1. 17 billion. It is less than the 3. 2 billion they may just a year ago. The average oil price in the First Quarter of this year was 53. 90. That is 40 down from what it was a year ago. Bp focused really on spending. This has been the name of the game for quite a while. They announced they will spend 20 million this year versus 23 million last year. Watch out for more on spending and more on assets. The Company Announced another 10 billion asset sale program. 4 billion into that. In the downturn, what is interesting to watch is the anomalies. The eccentricities of these companies. Lets not forget that you refining. That typically does well. Also, an interesting little part of bp has been its trading arm. It has come through to save it in the past. We shall see what they say. Do they even break it out this time around . There is plenty of volatility in oil prices. That is bp. There is no question it will be a prophet decline profit decline. Caroline ryan different issues at play that has the refining arm. It is eurocentric. Ryan the expectation is 2. 17 billion in terms of adjusted earnings. If you look across all the integrated oil companies, that is the smallest decline year on year of any of them. The expectation is because an of stream business to actually pump more oil than many people were anticipating. Angola was a real success. In addition, they are the biggest refiner of the integrated oil companies. It is the biggest chunk of their earnings. They have their own issues like i would watch out for what they have to say about their russian assets. A leadership change, new ceo in place. What is he going to do about russia . It has a big stake in the largest independent gas producer there. Watch out for anything like that in the Conference Call which will be around 3 p. M. All of this really kicking off a big week for earnings. We have shell and exxon. Mark they are both shelving major projects. The whole theme continues in terms of where they are going to take the risk. Ryan bob dudley says just because we see over the last month an 18 bounce in the oil price im not sure anybody really believes that will be sustained. If you are running a big oil company, you have to prepare yourself for lower will prices. Oil prices. That is the responsible thing to do. Caroline thank you. Meanwhile the finance minister in greece is told to take the bench after a reshuffling of the renegotiations. Three months of talks have failed to unlock aid. Last week, meeting between the finance chiefs ended in acrimony. Prime minister severus Prime Minister tsipras is gaining friends also with Angela Merkel. Hans nichols will has the latest. Run us through all the changes that are happening. It seems like the finance minister is being put to one side. Hans daytoday negotiations with the creditors will be handled by the deputy finance minister. The actual eurogroup meeting on the political side of things it appears the finance minister will hold onto that. He will be going to eurogroup meetings in brussels. Markets read this as greece willing to cut a deal that is a little unpopular. You saw the athens benchmark rally 4. 5 yesterday. The yield on the threeyear dropped almost 400 basis points all the way down to 22 . Meanwhile the Prime Ministers seeing Angela Merkel has as much interest in cutting a deal as he does. He wants to make sure there is no failure inside of europe. Here is how he explained the finance minister getting his wings clipped. Prime minister tsipras now that we have reached a final stretch, we find yourselves in the need of reshuffling our teams because we need full control and be as efficient as possible. We are at a critical stage, the final stage. Therefore the main political delegation are under the response ability of the finance minister. All of these teams, we need to have a crucial strategic team. We need a Technical Team negotiating with the Brussels Group and we need better coordination. Hans there is big payments. Pension and salary has to go out of the end of the month 1. 5 million euros. May 6, we of the first of the imf interest meetings which is about 200 million euros. Lot of big payments same situation, but slightly different negotiating team. Caroline the market how close is the private is to close to a deal the Prime Minister close to a deal . Hans it depends if the finance minister was the spokesman or the driver. The Prime Minister suggested that he was part of the team. That this was not a popularity contest. He hasis banking that Angela Merkel does not want to see failure herself. Here is what he said on how close they are getting to a deal it is in the most crucial stages, the final stage. We have covered 70 of the distance and we ask them to walk the remaining 30 together. That same 30 , that looks like it is labor reform and pension reform. Not a lot of indication on the european side. One quick note a newspaper has a report out on the revised list of what the greek government will be submitting. A new luxury tax on european holiday makers in europe. I know that will not hit you, but it will get mr. Cranny. Caroline hans live in berlin for us. Thank you. Mark we are nine days from the election in the u. K. We will gauge the group of the growth of the economy before voters go to the polls. Gdp is due at 9 30 a. M. And edwards is here. Good morning. Anna 0. 5 are the estimates that economists have penciled in according to our survey. This is the growth rate that the u. K. Economy will probably register. That would mark a loss of momentum from the previous couple of quarters, certainly the end of last year. The drop of oil prices could be giving a boost to consumers. The Fourth Quarter was marked by a bit of a fall back in the Extraction Industries and the construction industry. How much is that due to the uncertainty along the election we will find out. January and february, the production numbers and construction. Perhaps some of those slightly negative numbers of the Fourth Quarter might continue into the first. We are looking for a loss of momentum. A slowing for the fourth straight quarter but we are coming off a fairly high basis score as the u. K. Economy has registered a 10 increase since the Coalition Government took charge in 2010. It grew faster than any other country in 2014. That is what we will be told today. Conservatives labor will probably point to whether this is actually felt like that good of an economic experience for the average person. Jen ryan making the point that it is going to be viewed politically by all parties. Just nine days of the election. Bear in mind, the average revision to this data is 0. 4 percentage points. Even if we get half a percent, the range of the actual number could be in the range of 0. 1 or 0. 9 . That is what we are looking for later today. Mark we will see you later, anna. Manus these are the top stories at this hour. The First Quarter net profits ahead of estimates at 1. 7 2 billion euros. The biggest bank also recorded bad loans ratio twoto 4. 8 . Workers struggled to treat thousands of wounded after the worst earthquake in thenep al. The earthquake which struck on saturday has so far claimed almost 4000 lives and displaced millions from their homes. Economic cost of the worst earthquake in decades may reach 2 billion. The governor of the u. S. Maryland very hogan declared a state of emergency in response to riots and looting in baltimore. This followed the death of freddie gray the black man who suffered in injuries while in police custody. Hogan has activated the national guard. Germanys plan to raise sales in an effort to boost capital. It was eroded by was 1. 5 billion fine. It is the two day meeting for the feds gets underway today. Expect no rate rising as the u. S. Central bank has rules. Investors will be looking for clues on a change in policy particularly after some weak Economic Data out of the u. S. Caroline stay with bloomberg because coming up, will china drive earnings . We break those live. Focusing on Consumer Electronics seem to be paying off. Manus will be speaking to the companys chief executive. Despite online leaks of four episodes, the official game of thrones debut brings in 18 Million Viewers for ratio. We are looking ofat those numbers. Mark welcome back. Gdbp data before the election next thursday. Whatever the reading, here to discuss the economic implications of the elections amongst others is the worlds first u. K. Chief economist jeremy cook. A great piece on bloomberg today. It could be revised. It will be used as a stick to beat each other. Jeremy the biggest whip we have for the next nine days of the election cycle as we come into polling day. If it is anything less than the. 5 or shows a slowing, labor will jump on it. They will tell voters that. They are saying we have done so well in government, why would you not vote for us . It is starting to slow off. If he goes to. 8 , George Osborne will be all over the place. This is a big thing for the election. Caroline you are expecting the conservatives have a bigger drum to bang the perhaps l than perhaps labor . Jeremy we are seeing estimates that are falling. I think we could see maybe. 6 maybe stretching up to. 7 . We know it is been particularly good over the course. It is not matched the actual output in the construction money factoring sector. The real wage picture has been strong and that may take over the u. K. Gdp. If that will do anything, that will help the blues and yellows. Manus over 1 in the past week. Up 1. 2 in the past month. It is having a bit of a rebuy over the months. You said it is geowobble. Jeremy i think we are still uncertain about what we wake up on if you stay up through the night over may 78 caroline it would be nice. Jeremy i think why we have not seen a preelection wobble like we saw in 2010 is the absence of the klegmania. The pictures we saw in the approval ratings. Given the fact that no one wants to form a coalition. They cannot. I think we see labor make a coalition with s p with the supply confidence vote to allow governments after about a week of Coalition Agreements and negotiations. I think that is what starts to wobble. If we go in monday morning and still dont have a government or far away from it mark lets talk reese. Greece. The finance minister has been reeled in. Should we be hopeful that he is clipped . Jeremy i think it is as much symbolism as we get out of every story from greece. I would like to see behind the scenes and see what kind of deal has been put on the table and whether we are getting any closer to it. If moving the finance minister out of the limelight allows a deal to come quicker, fantastic. I think everyone from the first of july and the deadline has not expired, he could hold himself up and say i stepped aside as result of me wanting to show everything no one is bigger than greece moving forward. If Merkel Tsipras came out that merkel want to deal. She does not want to be the chancellor that broke up the european experiment. It is an experiment, come on. Caroline lastly, we got gdp numbers in the u. S. , centralbank meeting as well. You expect those numbers . Jeremy about 1 . On the feds, we have been looking for september. The june people got a little bit giddy at the beginning of the year. The language tomorrow is going to be really interesting. If they continue to focus on inflation, this dollar, the little wobble we have seen will come to an end fairly quickly. We saw how little european qw e was price. Manus thank you very much Jerry Cook Jeremy cook. Mark we are getting breaking news. Any second now, the worlds third biggest luxury carmaker should have a net income for the First Quarter which is expected in increase of 66 according to the analysts we surveyed and sales up by 14 . Lets move on. Manus, lets do for an exchange. Possibly being up by the time you come back. Manus yes lets check in on the foreignexchange market. The biggest move i can see this morning is the Swedish Krona. You are seeing the dollar the dollar rising and the Swedish Krona dives. You have that little bit of momentum overwrought. All. Will the swede bank go up to 3. 5 and go for an expansion on the closet of easing program. That seems to be the question. We go into the fm