Officer. This is like aerial combat. It is about advantage. And all advantage is fleeting bloomberge from here you are never permanently European Headquarters in london. Defended here you are never this is what we are talking about. Breaking news on the ecbs omt. Permanently successful on the offense. It is all a tail chase. But you can make yourself are they will ask the Top German Court for device on it. Less likely to be a successful this just crossed bloomberg target. Look, i understand the turner will terminal about 10 chancellor sensitivity but let me tell you what we did to our president when he was minutes ago. The Constitutional Court has president elect. The senator was wedded to that sent omt, the unlimited bond blackberry. Buying plan at the ecb, to the president elect, European Court of justice. They say the ecb program may the Security Services said, we cannot do that. Overstep limits. The blackberry is unsecured . They are more secure than let me take you back a few said they he actually summers ago, when mario draghi said he would do whatever it takes to save the euro. He followed that up with this are going to have to pry it out unlimited bond buying plan. Of my fingers. In a Public Television broadcast. It offered real stability for out ofeeded in prying it these markets. The threat that the german Constitutional Court could fall against it is something that has his fingers for today so we could put enhanced security in been hanging over this for a i t. He continues to use his while. It is not in the ecb mandate to monetize the debt within the blackberry. Eurozone. Here is the back story. They were talking about buying we are telling soon to be most powerful man in his national in the secondary market. The big shadow hanging over the eurozone was whether germany capital that if he uses his cell would rule against it or not. Phone, lots of foreign the sense right now, talking to Intelligence Services are going to listen to his phone calls and read his emails. A couple of people, they are passing the buck to the eu top lets fastforward to chancellor merkel. Court. If the United States had been you have got to say, ultimately, doing that against her and i one view could be that it could am not in a position to say take some of the risk out of the but if we had, i think the decision. Who is more likely to rule in american Security Services are about the least of the favor, the eu or the german chancellors worries with regard Constitutional Court . To who was listening. Hans . Right now, the euro is off a i mean, im fascinated by touch. If you are looking in the bond this conversation. Market, the front end of the just when we get a corporate yield curve, only a touch espionage, or the danger for shutting down or vulcanizing the higher, a few basis points. Or is not mass hysteria about internet, what should be the this headline right now. U. S. Administrations response this is the concern and it will and what should be the response be debated through the morning. From Tech Companies in silicon remember, this is the program that offered this eurozone valley so you do not cover par penalize the internet and you have a free flow of information . And you dont stability in the Financial Markets that it needed. And allowed mario draghi to say we will do whatever it compartmentalize information . Takes. Here is what i do not we do conduct signals understand. The german Constitutional Courts have effectively said the omt is intelligence. I think we do it lawfully, i think we do it in accord with likely illegal. International practice but we do. , this is something that it very well and we spend an awful lot of money at it. Thoseuccess has given should not be pursued. They have effectively politicize this and it could be something folks who want to balkanize that is more likely to follow to get approval. You could end up with a clash between the german Constitutional Courts again. The internet. They are not afraid of and espionage. They are afraid of freedom of it makes it even more difficult to fathom what the ultimate speech. We need to be careful that we do outcome is going to be here. Not so overachieve and espionage that we dont over legitimate remember, we were getting euro zone inflation of toys seven those countries arguments to limit freedom of speech, percent, way below the target. Balkanaizize the internet and ce it also comes at a time when they were talking about no longer sterilizing the smp down what has been a wondrous program. Event for mankind here and we if they cannot make a decision it is unlikely they will may have to take some voluntary restrictions and be more transparent. And that is actually a very ironic sentence i just stated. Make a decision on that program. The germans are against creating because i think the british and new money, printing money, american Intelligence Services are the most transparent and the buying bonds of government in the eurozone. Most selflimiting on the planet right now. We knew the decision was going interesting. To be a sketchy one. Quick followup for you, i cannot bring you the analyst comments on this right now, general. Go ahead. Quick followup. Because it only broken the last halfhour. Going from a few comments, rule do you use a blackberry or an on it. They want to pass the buck. Iphone . They cannot make the decisions when did you switch and do you themselves. Do Online Banking . I use an iphone. Eu probably more likely to rule for it than i had no such device until i against it. Wrote i left government. The very latest on this omt and i do Business Online with great care. Which means that you do legality. The sochi Winter Olympics, the Business Online. Worlds most expensive olympics are we going to see more cyber games, begins with the opening threats . Yes. Three credit glories of ceremony tonight. Credit gore is Russian Companies are among the winners and losers. Ryan chilcote joins us more on countries, criminal gangs, and what the games mean for russian businesses. Hackatvists. Noterussian bank put out a the sad news is the tides is talking about which countries are likely to gain from the coming in, and all three of games and which are likely to lose. Those boats are becoming more one is the national airline. They say because they have increased the number of flights capable. This is going to get worse it will from 5 to 15, before it gets better. General like a patent, former director of the cia and nsa have more revenue and profit. Longerterm, as they move people general Michael Hayden. A short going to take to and from the games, the perception of aeroflot will break. We will be back in a few minutes time and continue the conversation right here on the pulse in advance of the nonfarm improve, which will help their investment case. Payroll number. When you and i start going to russia, people called it ter riflot. It has come a long ways. People do expect shares to rise as a result of that. Shares have risen about 50 in the last six months. The other company is called yandex, the google of russia. They have 60 of the Search Market in russia. Interesting company, also expanding internationally to places like turkey. Your stock doubled last year. Their stock doubled last year. Could be theng it most connected ever, meaning more added revenue. They expect yandex to rise. Those games technically now underway. The Opening Ceremony coming about seven hours from now. Forhere are some winners all competitions and there are a few losers. Who is losing out . Play out. Seen that if you look at the statebacked the bunnies, where you have one russian owner with a very large stake, a lot of these listed companies have very small free throws free flows. There were calls from the kremlin reminding that it is important to invest in sochi as part of the social responsibility. Investors say yes, but that might not necessarily Bring Company profits. You saw investors taking money off the table. The Worlds Largest producer of , they are down about eight percent as a result of that. The Worlds Largest aluminum producer also a lot in sochi, very little of which having to do with producing aluminum. There shows there shares down by a third in the last year. These companies, if they are statebacked him a certainly have a dual mandate. Bringing money to their shareholders, but also making nice with the kremlin and ensuring that that investment that the kremlin wants to have and actually does. Much indeed. Very Ryan Chilcote on the latest from sochi and the businesses that are benefiting or not benefiting. Bank of England Staff may have condoned practices at the heart of a currency manipulation investigation. Staff are said to have told currency traders that it was not a problem to share in pending customer orders with counterparts at other firms. We helped uncover the story. She joins us with the latest. Susie, this could be much bigger than libor. What are the implications for the bank of england . The key thing here is the bank of england is yet again in controversy of rate rating two years after it was criticized by lawmakers are not heeding warnings. Here we are with another benchmark taking place. That hasm one of those been accused of various manipulations of the fx markets, i am saying the bank of england condoned it. What does this mean for the legal cases . Preks obviously, it could undermine the investigation. We have not gotten the date of the probe and the u. K. Yet. Line betweenin market practice and what could be manipulative. Could potentially undermine the investigation and put pressure on regulators to come to conclusions more quickly. What do we know about the investigation so far . Saying wes are had martin wheatley, the chief executive of the fca, saying he does not expect anything until 2015. In light of this investigation, they will pressure the government to come to conclusions more quickly. We will leave it there. Ongoing. There has been another guilty verdict connected to the welcome back to the pulse in london. Capital. Oma isw martello mart im francine lacqua. These are the top stories. Mark mobius says the selloff the eighth person to have worked in for steve to be convicted of Insider Trading. It does not look like they have in emerging markets could continue. Close any cases against cohen the temple to chairman oversees 50 billion in developing nations. His outlook differs from jim himself. What does this mean for cohen . Oneil who says this week that it could mean that he is off the selloff has created a buying opportunity. Atu. S. Jobs data comes out the hook because the prosecutors never got martoma to plead. 1 30 uk time. He did not cooperate and tell prosecutors what happened during that july 20, 2008 call before they expect employers to have added twice as many workers in january than in december. They expect the Unemployment Rate to have held at 6. 7 . A bunch of sold manager wasc fund stakes in pharmaceutical companies and netted a 275 Million Dollar profit. You can look at this in two found guilty in the largest ways. You can say that this conviction Insider Trading case ever. Makes it more likely that martoma will cooperate or less this is the seventh conviction one by u. S. Prosecutors in their likely. My view is it makes it less probe of sac and its founder steve cohen. Likely that he is going to cooperate. The prosecution, they tried to martoma faces 20 years in prison. Put a brave face on this. Atare other big stories they talked about what they nailed him for. It is a little bit like talking bloomberg today. Bank of England Staff may have condoned practices at the heart about how you got al capones of a currency manipulation investigations. Said to have are accountant. They were always clearly going after steve cohen and right now, told currency traders that it they do not have been. Brought thertoma was not improper to share them pending customer orders with counterparts at other firms with answer sheet before the exam poor trading. More than once. He is free on bail until his sentencing. That will be the last chance that prosecutors will have to susie joins us now for more on the story. More bad news for the boe. Try and squeeze him. It is. Prosecutors not let yeah. They face the threat of them him enter a plea bargain to turn in cohen and give him a lighter being dragged into another scandal two years after they were criticized by lawmakers for not heeding warnings that libor sentence . They do not want to establish president that you can lose a i think they could face them conviction and gamble and be questions now. Libor was huge. Found guilty and then talk. They would not want to establish that precedent. More importantly, martomas this could be even bigger. How will this actually affects the inquiries being made . I think what well see is credibility as a witness will be pressure coming from government. A 5 trillion a day market. Tainted because the prosecution has done so much to tame him. They introduced evidence going today, governors back and finding he was expelled from Harvard Law School for governments are letting fixing some of his grades and investigators get on with changing a transcript. He changed bs to as. Investigations, but with the euro so away from conclusion, i think this meeting could one of the classes he changed, actually put pressure to come to conclusions more quickly. The middle law. The defender in criminal law. This case and you have got the a great little side story on boe having had thsese that one. Here is what else is on our meetings, how do you change the radar. Statoil is the latest Big Oil Company to take a hit on its nature of the investigation and bottom line. How are prosecutors looking at it . Why are they going to speed things up . Norways Largest Energy company i think there will be a said profit slid 27 in the Fourth Quarter after profit pressure to speed things up. Whether in reality that can fell. Happen, we will have to see. The point is that it undermines the investigation. A thin line between market profits rose 23 at our salami tell arcelormittal. Practice and manipulation. A are trying to decide whether that line was crossed. The fact the boe seems to the company is trying to recover from an industrywide slump by condone these practices, raises questions. Closing plants. Thank you so much for all of best. The latest on the boe. Allhe u. S. Is banning u. S. Liquids, gels, and aerosols or carryon luggage on flights lawmakers must criminal today to between the u. S. And russia. Find votes to raise the debt ceiling. Congress extended the barn authorities are tightening security of the Winter Olympics get underway. Limit in october. The restrictions follow an advisory warning that terrorists it is scheduled to expire today. Might hide bombmaking materials hans nichols knows a few things in toothpaste tubes. About this. Walk us through what happens coming up, keeping the today, the procedure. Procedure is john spotlight on sochi. Ready or not, russia welcomes the world to the Winter Olympics. The games are the most expensive boehner does not have the votes. Winter games in history, was he does not have a plan. This is a feeling, shutdown that does not mean they will be a success. Find out why our next guest says coming up to the limit in three sochi will be remembered for all years. Now there is a sense that neither side really wants to the wrong reasons. Have a fight on this at this particular moment. John boehner has hinted that he wants to attach something. Of capitolarlance hill, he wants to send a bill to the senate that is not clean. What the senate is demanding is a clean bill. We are are great about whether or not you will have some extraneous issue attached to the debt ceiling. John boehner has signaled it is going to pass. The concern this time, they will cut it to close because after tomorrow we go into extraordinary measures. They will cut it to close. Markets will react, and they will fumble this one when no one really seems to be in the fight. In the past, they wanted this fight. No one wants to fight this time. They need to figure out how to get across the finish line. Yes. So hans, how likely is it that we get a done deal . Day, veryr the next little. Likely it will happen sometime in the next week. So possibly not today but something to keep a very close eye. Thank you so much. Now in 20 minutes it is surveillance. Just had a fascinating conversation with the former director of the cia and nsa talking about Cyber Security and sochi. Sochi figuring in your program today. We will look at the olympics. They begin here. A lot of Interesting Articles coming out of the United States on the american appetite for the sochi olympics. The athletes are there. I saw one article last night about the interest in americans and traveling by airline to sochi. That seemed to be diminished. But we will see as nbc begins their covers in the United States. Bloomberg will have our full team there as well. We are looking at jobs day today in the United States. I know you will have that at 1 30 your utimetime. Stephen roach will join us of yale university. We will talk tof his great caution. His new book out on china. S will joinleb at ub us. Capital me, with rbc markets. We will talk not only about the markets but critically, we w