We see how the luxury carmaker is luring customers with exotic test rides. Looking forward to that. First an exclusive interview with frances finance minister pierre moscovici. We spoke with him in washington dc about everything from the u. S. Debt ceiling to emerging markets. He says he is not concerned about turmoil in the letter. [indiscernible] about 0. 4 tos 0. 5 over the first quarter. I dont know what the figure will be exactly. I guess it will be around that. Now, the eurozone as well as the france economy have got off the recession. Rate is about 1 per year. It is not enough. It is better than the recession but it is not enough. We want to speed up. This is why the president launched what he called a responsibility pact with the firms, in order to give them more capacity to reduce the cost of labor, to have a better taxation for the firms, to also simplify the access to regulation, to have also a more flexible labor market. This is what we are working on. With that we will be capable of welcoming more and more american firms in france. Yesterday we met with businessman from here, from the u. S. Important ceos. All of them were saying, we are there. We are happy to be there. We want to expand our business but we want new business too. I know what prevents some people to invest in france. We want that to be off. This is why i expect that if this is signed, we can have more than 1 even in 2014 and much more in the years after. Are you worried about the volatility in emerging markets . Could there be a spillover effect . Of course i have a look at it. If i wouldnt, i wouldnt be a finance minister or somebody responsible. We carefully watch the moves in those emerging countries, but now i dont see a crisis coming. A g 20. Next week we will probably discuss that. I think we must find a way to have a cooperative approach toward growth in all zones of the world. Including emerging countries. I dont see a signal or a sign of a Global Crisis. That was the french finance minister, speaking to us in an exclusive interview. You will hear more from him later on in the pulse. 10 months into his tenure, the italian Prime Minister is fighting in his own party. Yesterday he presented a new economic plan. Today we will learn whether matteo renzi will move to replace him. Hans nichols joins us now from rome. Walk us through what happened today. The last few days have generated a lot of news. Today we find out what grizzlies move is. If you want renzis move is. Look at the meeting they had yesterday. It was renzi who called the meeting. Essentially the mayor of florence summoned the Prime Minister. He is the head of the party. After the meeting, enrico letta sounded like a Prime Minister who is contemplating leaving office. I lived every day as if it was my last one, Broad Coalition change after just two or three months. I had to follow the development of the situation stepbystep, very carefully. Letta didnt know whether or not he had the support of the party. His fall would be the fourth government in 2. 5 years. The question for the mayor of forest is, does he want to be premier now or wait, consolidate his strength and be premier later on, perhaps with more democratic legitimacy. I guess there are three options. One is renzi becomes prime letta doesntse have support anymore. The other is a Cabinet Reshuffle where enrico letta puts renzis people in cabinet. The third is the call for new elections in the spring. Scenariow election would be if renzi decides to go for it today and decides he wants to be the leader. And the president will have to talk to all the coalition partners, see whether that would be acceptable. If not, having a swap at the premiership from the Democratic Party, you would have new elections. Then we would have to see what sort of coalition could be cobbled together. It is all about coupling coalitions. This is the story of italy. Hans nichols in rome. Posted the slowest sales growth in four years. We are alive with the ceo later on. Where is the Worlds Largest food Company Turning for growth . Ryan chilcote has more. Price climbed since the loss we saw earlier in the morning. The company just said they intend to announce a Share Buyback program. The details as soon as they close that sale with loreal. The big issue here is, they grew sales by about 4. 5 last year. That is inline with estimates but it is their worst growth in four years. They say next year is likely to be like last year. Erma wherelike gald they bought the half they didnt already have, it gives them higher margins and higher growth rates than they have been getting in food. They make products for skin care, acne, skin cancer. Unfortunately these things are unlikely to go away. It is likely to be a growth industry in the future. One thing we are all spending more money on is our health. It is a trend that they are trying to get into. It began about two years ago. That is when they got into the health business. Is that true . Certainly the way we consume things has changed. Is it a health world problem . It seems to be a developed markets problem. If you look at the numbers that just came out, there does appear to be a kind of diverging reality out there. One of the things that people are looking at in the developed , the packaged food business in places like the United States is showing signs of weakness. Americans are back, the Economic Growth is back and yet they are not biting packaged food like they did before. They are buying fresh and healthy. The developing world, refrigeration space is short in stores. People are getting wealthier and they want more protein. Packaged foods is what they want. If you look at the results in the developing world, nestle beat expectations. In the developed world, they missed expectations. Brian, thank you so much for all of that. We will be live with nestles chief executive later on in the pulse. Cable giant comcast is said to have agreed to acquire Time Warner Cable in a deal worth 44 billion. Here with more is manus cranny. On this isory story going to be fascinating. Walk us through the numbers. There is a new king of cable. It is Brian Roberts. He is going to have over 30 million video subscribers. That is what is going to happen when you put comcast together potentially with Time Warner Cable. Cable told charter, about, we are looking for 160. Comcast has come back with 160 159 as a stock offer. It is all paper, all stock. The two of them getting together trumps charter. Create a beasto of a cable company. Some people say that putting two dinosaurs together in an everchanging landscape. This kind of deal in the cable industry has impact across the world. Is it going to be a race for more m a . I think this is certainly one of the date set pieces on the chessboard. Had been in pursuance of Time Warner Cable on three separate occasions. , there isave got here a hes with a wonderful line. If cable business had a soundtrack, jaws would be the soundtrack. Deep, pounding noise, almost as if there is a predator and the predator is coming. Consolidation gives the Cable Operators scale. That gives them the ability to put pressure on the content providers to provide content at a cheaper price. Few places tory go for your cable provider, you end up paying more. It is going to be an interesting story. This pretty much completes the rationalization of the u. S. Cable industry. I suspect there will be a significant divestment. You can build a business this big without regulators getting involved. Mr. Roberts i suspect is doing the math on that right now. I bet he is. He rails is on our radar here is what else is on our radar. Bnp is setting aside more than 1 billion in u. S. Legal provisions. The cfo tells us staff will get less compensation because of a squeeze on earnings. There is a certain elasticity. , we will seerlier that ramification. It might be different from businesstobusiness. [indiscernible] shares in the engine maker rollsroyce are following. The company says sales wont grow for the first time in a decade. Lower demand for defense equipment. We will take a closer look at rollsroyce later. U. S. Treasury secretary jack lew has criticism for china in an interview with charlie rose. He says the country needs to stop stealing intellectual property if it wants more influence in the world. Cyber security and cyber theft are somewhat different issues. The issue that we have raised with china is really the protection of intellectual property. Policies where there is a theft of intellectual property that is unacceptable for a country that wants to sit at the table and make the rules of the world. China sees itself as the country that should have a voice in making the rules for the next in a ration. They cant have it both ways. Be sure to watch the entire interview on charlie rose tonight at 10 00 p. M. U. K. Time. Coming up, government in crisis. Italys Prime Minister resists pressure to resign. Plans Economic Growth enough to mainstay and stability . Liveu are looking at pictures of the u. K. Chancellor George Osborne speaking in edinburgh this morning. The debate, of course, about goblins independence. Scotlands independence. You will hear from mr. Osborne later. Welcome back. Youre looking at live pictures of the chancellor in scotland. This is George Osborne. Addressing the issue of Scottish Independence. I suspect we will hear him say it will not be an option for the scots to postindependence to continue using the pound. Italy could be on the brink of another new government. Yesterday the Prime Minister presented a new economic agenda. How will Democratic Party leader matteo renzi respond . Lets head back to hans nichols in rome. Francine, good morning. Professor ofh a history and politics. You know this country well. You have your crystal ball. Tell me what matteo renzi does today. Todayelieve that renzi will say that he wants to become the Prime Minister. He will say it in a soft way most likely. If he doesnt say that, it will be a surprise. Hes going to say that and at that point, i think letta is going to resign. Makes his move today, he has gone too far. Letta resigns and then how long does it take renzi to the premiere . Not very long. The republic should have official consultations. I believe that in a very short period of time, renzi can be and build hisier government. Why does he want it . If he doesnt have the popular support, if he is not democratically elected, why does he want it now . His first option would be early elections. Since he knows that he cannot get that, if he had waited with letta in government he would have been worn out by the situation. He wouldve taken a responsibility for a government he couldnt control. It was politically wise for him to say, if i need to take responsibility for the government, i want to be in full control of it. When will those elections they . I believe that if he gets in one, maybe may last even more than that. Berlusconi, what would be his take on this . I think he should be quite happy. Learn howis going to difficult it is to govern this country. Of course he is going to be worn out by that. It will show the country that he is not the miracle man he pretends to be. Is quite glad about how things turned out. We have a clear prediction that the government will fall. There will be a new Prime Minister and in the balance, this could mean the return of the conservatives in italian politics. If it is not berlusconi my name, it is his movement. Hans, thank you so much. Interesting predictions. He was also predicting that matteo renzi would have about one year in government. If i were him i would say, hold off for now. I want to stay in government possibly 3, 4, 5 years. Anybody looking for italian political advice . There he is. , looking at break live pictures of the u. K. Chancellor George Osborne. He is speaking in an barrow at about the debate on Scottish Independence. He is talking about the fact that maybe there isnt any legal should sharee u. K. Its gdp. We will talk about this more when we come back. Welcome back to the pulse. Time for todays hotshots. A sad day for vintage car lovers. Eight rare corvettes swallowed up by a sinkhole that opened under kentuckys National Corvette museum. No one was hurt in this incident but the cards took a fatal battering after plunging about 30 feet into this massive hole. We still have no information. Two russian thrill seekers find the worlds second tallest building while it was still being built. The men chose to climb the 650 meter shanghai tower during the lunar new year. Beginning at midnight they spend two hours scaling 120 floors and 15 hours waiting for the weather to record their stunt. Chinas lunar roller rover is alive. It suffered a breakdown last month. Mission control said it could not be fixed. Now the rover has responded to calls from earth. But is it showing abnormalities . Ourets get straight to markets editor, manus cranny at the touchscreen. You have had six days of reprieve. Arbitron higher, stoxx 600 at the moment taking a break. We have the longest stretch of games gains. Two to three days, we have had various voices. We have had mobius, think, a variety of people saying it is for the brave in terms of the emerging markets. Just look at europe at the moment, definitely more than a pause going on. Some of the banks delivering fairly shocking results. Lets give you a complexion of the industries. It is financials where you see a lot of the down. , talkingn the u. K. About nearly 10 billion pounds in insurance. U. S. Equity futures indicated lower at the moment, down by almost 0. 4 on the s p 500. Retail sales will come out today. That is what the market will focus on. Riseumber is flat versus a of 0. 2 . You will also get jobless numbers, 330,000. There is a bit of snow in the u. S. It is stopping janet yellen from testifying in front of congress today. Have a look at this. Dollar, this is turning into something new. Unemployment at a 10 year high in australia. Anybody that thinks they are going to hike rates in australia , that is where traders are paring their bets. You can see the downturn there. Keep an eye on dollaryann dollarrand. We believe that there. State of the nation tonight. Back to you. Eurodollar spiking at the moment as well. We will try to get around to figuring out what is going on. Still to come, getting billionaires to buy bugattis. We see how the luxury carmaker is luring customers. Welcome back to the pulse. I am francine lacqua. Here are bloombergs top headlines. U. K. Chancellor George Osborne is speaking in edinburgh right now. He is weighing in on the Scottish Independence debate. He says that if scotland leads the u. K. It walks away from the pound. There are early signs that tourists are returning to egypt. The 2011 revolution saw visitor numbers collapsed as western governments issued earnings to travelers. Since an, the warnings have been eased. Airlines are once again looking to reopen routes. We spoke to the countrys tourism minister. I got a call and u. K. Told me theyre going to start flying in. That stopped a while ago. Today, an indication of they have a positive feeling of the future in egypt. Uncovered labor violations in its supply chain. These include the use of underaged workers in factories. Apple conducted more than 450 reviews according to its annual internal audit. You have more on this, guy. I dont, ryan does. Lets bring him in, ryan chilcote. This company has always suffered as a result of its supply chain. Once again, we see problems within it. They say, that things are getting better. They have been doing these reports for the last seven years area they say if you look at underaged labor, this is kids under 16, they found two dozen this past year versus last year where they found six doesnt in one factory alone. , 95 of theid facilities they use have agreed to limit the number of hours they require their employees to work to 60. That is no small amount of hours. Lets not forget that the volume of work you have basically 1. 5 Million People in this supply chain creating last year 150 million iphones, 70 million ipads. Take foxconn for example. It is known for the volume of iphones it pumps out. It is also known for the state of suicides and those awful nets to try to prevent people from killing themselves jumping out of the factories. Last year they have labor shortages, high tone over. Workers require their to work more than 60 hours. Things are getting a little bit better but you can see that the sheer demand for apple products has really put rusher on the supply chain to deliver. We have read about how they have these labor supply chains reaching out to villages. It all happens quickly. The pressure has to be a mess. Theyre going to africa as well to look at the run materials. That is perhaps the more interesting part, when you look at the commodities that going to the phones. They are trying to exclude conflict minerals that going to their electronics. They say they have been able to do that with places like congo, they are not taking minerals from there for their phones. Then there are less obvious forms of labor exploitation. They found 12,000 students on their books in the supply chain. Under internships. They working together with stanford, dell to look at how educational these internships are. There are reports of these pretty much kids working in these factories, working the night shift, working more than 60 hours a week to try to pay for school. There is a question of whether they are going to school and what they are learning in the middle of the night at the factory. We will leave it there. Hopefully the trend is getting better. Ryan chilcote on the latest from apple and its applied chain on it. Rio tinto says its costcutting plans are paying off. Its secondhalf profit has jumped by almost half. Jon ferro has more on the latest numbers from the minor. Lets go through the Mining Company and what they came out with today. Lets talk about fullyear profit. A 10 increase, beat analyst