From Bloomberg European headquarters. I am francine lacqua. Guy johnson is off today. Also coming up, how to survive an avalanche. We speak to the pro snowboarder who had the technology to save her life. And its chief executive tells us why. Now lets get a quick market check. This is what we are seeing. We did start the day on a high. For the moment, we are down from the days highs, but still gaining weight three percent. Heading the stoxx 600 for its third consecutive weekly advancement. O is the one to watch out for. This is the french autoparts maker that posted earnings that beat analyst estimates. A very quick look at fx. We are looking out for the g2 0 this weekend. Janet yellen arrives tomorrow morning for the talks. In ukraine, the president has agreed to plan to resolve the political crisis that has caused chaos in the country for weeks. An accord will be assigned in about an hour. David tweed has been following the story from berlin. First of all, give us the latest. Just that accord that is supposed to be signed in about an hour. It looks shaky as to whether that might happen. The president of poland, whose foreign minister has been at the negotiations all night with the German Foreign minister, saying that the opposition has only just started negotiations about a potential cord a potential accord about an hour ago. The leaders need to sign off on this as well. I think we need to wait and see what happens with regards to the signing of the accord. It is hopefully supposed to happen in about an hour. As to the details of the accord, interfax is reporting that it includes constitutional change to take the constitution back to the form of 2004, which would a takingackdown back of some president ial powers. The other aspect of this accord has to do with president ial elections, which might not happen until the end of the year. We know that the opposition has been calling for snap president ial elections. Parliamentary elections. That could perhaps be a sticking point. With a freshme out downgrade on the country. Give us the details. They are beginning to look through the present crisis as to what might happen if a new government is formed. Financialned the difficulties that the ukraine has at the moment, pointing out that the central bank and the stateowned gas company have 13 billion worth of Debt Repayment to make just this year. The foreign reserves of ukraine have fallen to about 18 billion. That does not leave very much change. Money coming from russia, 15 billion, that appears to be tied to mr. Yanukovych remaining in power. If there is a new government, then the eu, the u. S. , one would expect the imf to be involved in coming up with some sort of bailout. P points out that that bailout would likely be conditional. Would every would any government formed out of this crisis have Strong Enough leadership . That is why they are concerned about the potential of a downgrade. Thank you so much. David tweed with the latest on ukraine. Rbs is planning to 30,000 jobs to slash 30,000 jobs. Donovan ferro joins us with the details. What exactly does the report say . They are shrinking the Investment Bank. A spokeswoman with rbs has not confirmed this. If you get these figures, it will be in the Strategic Review next week. Potential huge, deep cuts to this staff. I think the number, the big headline might be a surprise. Got a ceo that is going out and talking about expansion, going on a hiring speed. A hiring spree. It seems to be political pressure. A large number of institutions in this country scaling back on Investment Banks because of a lyrical pressure. Because of political pressure. Switzerland, a separate story. Ubs going back to its core business, wealth management. Rbs feels like a significant story. 18 government owned. A lot more sociallypalatable for this bank to become more of a consumer, businesslending bank. There is a massive lyrical tread going right a lyrical thread political thread going right through this bank. We are well below rate even crisis. The biggest banking bailout in the history of this country. Osborne and cameron have an election year. They want this bank off the books. It is about making progress now. It at the bottom of the chart. They have not made progress. They want a share price increase so they can sell off nicely before the election. Withe same way they did lloyds. Rbs is something they want to get rid of, but cannot at the moment. You have got to say, they probably are not going to be able to. The latest on rbs. And earnings drop in 2013 due to the weakest growth in the gucci brand. Manus cranny joins us to break down the numbers. , it is the gucci brand overall sales, in terms of what decentvers, it is a carry and that is where the transformation of gucci is not playing through in the numbers just yet. The weakest footfall for tourists and quite a while. Just to give you a sense of the numbers, we talk about the story net income comes in at comes in down from over one billion per year before. Is what cantort fitzgerald are calling these numbers. There is also the question of leaning on other brands. Up 13 point 13. 4 . That is where the transformation is coming through. Balancing out the downside of ysl. Against vanetta an the market is asking if the transportation the transformation is taking longer. Keringcaring brand brand is still in transition. Where is it in that process . When you look at what the ceo is saying, kering does not plan to bring the core brand into the lower segment. It is about the premiumization within the gucci brand. But that logos are essential. I find this interesting. Logos are essential for new customers in china. Is to accelerate the gucci innovation strategy. It is really that balancing act between dispensing with this gucci logo or the stamp on the bag and moving to the paradigm of louis vuitton, nonmonitored nonmonikered brand and product. It is going to take longer than the market originally anticipated. And then there is a whole proof story, which we will get to shortly. 90 million to facebook, lots of money, but less than half the amount phone carriers may lose in the coming years to the mobile message applications. Hans nichols as the number for us. It is expensive for facebook or not, it is taking a lot of market share because it is sending many more messages on this kind of application instead of Text Messages. That is absolutely right. There are two sides to this story and that is that they are sucking a lot of revenues away from mobile phone companies. In 2013. On that is an estimate from a consulting firm. That will grow all the way to 54 billion in lost revenue in 2016. The u. S. Market, it is declining, text messaging revenue defining 3 4 every year. It is a 21 billion market. For the most part, we are talking globally. The u. S. Has been out front and giving free text messaging to a lot of their clients. First text message, i look this up, 1992, sent over vodafone. At a country like mexico, 90 of messages are sent this. They have a clear advantage in emerging markets. That is one of the reasons why Mark Zuckerberg season value in it and the phone companies are losing value. If you are a phone company, what do you do . You give it away and tried to get customers on data plans. You are seeing unlimited text messaging coming in the emerging markets and parts of europe. Before, you would charge per message. Is Companies Like to have the chair and allow you to message by using a small amount of data. You will see phone companies try andweak their data plans give away messages as part of that overall plan. So much. You hans nichols with the latest on how phone companies can or are trying to counter these message applications. Here is what else is on our radar. O shares shares vale are soaring this morning. The Company Says Demand for cars has increased in china and north america and the European Market has also improved. Finance ministers meet in sydney, committed to developing new measures to bolster growth. Adam pozen says the World Economy has stabilized. We are getting back to normal. And i hoped china japan are arguably on a stable growth path. Still a bit of consolidating and moving forward. Europe is not as i expected to stagnate. But it will get through and be all right. Up, thenadd all that you take out the spareribs of many of the major emerging markets, even extending to subSaharan Africa, on a reasonable path. Former National Security advisor says the unrest in the ukraine relates to broader issues with russia. The issue goes beyond ukraine. It goes to the heart of the issue. What will russia become over the next decade or so . Is embarkingtin rush on some sort of nostalgic, irrational, imperial restoration. The Eurasian Union that he wants to create, of course, centered in moscow, would be a restoration of the soviet union minus some european portions and the russian empire. You can catch the full interview with jimmy carters former National Security adviser on charlie rose. That airs at 10 00 p. M. U. K. Time tonight. Coming up, we will keep the focus on ukraine. The president announces a plan to resolve the political crisis but will it stop the bloodshed . A moment of calm in ukraine. The president has agreed to a plan to resolve the political crisis that led to deadly clashes in the country. The agreement is expected to be signed in about 45 minutes. The emerging markets chief economist at Standard Bank joins us. Thank you for coming in. When you think this agreement will be signed. I am hearing a lot of skepticism. We had to chief economist on this morning and they said it would be 2 chief economists on this morning and they said it has been announced, but the opposition has not confirmed it. Clearly, jan ninkovich likes vych likes the deal. This deal sees him out of office 12 weeks earlier than he would have been ousted. I do not see that being sold. The opposition leaders, they do not necessarily need an ultimatum. You think that no agreement that would involve him staying in power would be signed. The general consensus across the board is it will be very difficult to sell a deal that is not Something Like early elections within three months kovychn echo mitch yanu want toster and people see people brought to account for the violence. Question about a whether the military would follow his orders. I do not see that. In sending him or the military following them . Try, but my feedback on the Ukrainian Military is there is a relationship with nato, perhaps more so these days than russia. And we saw two heads of the army have been ousted. I think that suggests splits in the military. Vych goes for that, it is a very dangerous, high Risk Strategy from his perspective. Will this escalate to civil war . Civil war is a big word. It is not looking particularly hopeful. A lot of people have made the point that it is not east versus west yet read yet. On the about guys street, a majority of the population that just do not feel very happy about their leadership. It is about rule of law. It is about fairness. It is about justice. That is what it is about mostly. It is about the leadership at the top. Ukraine,grade of the it could default. It is not what is on anyones mind at the moment, because they are about their safety and security. Ais is not systemicallyimportant country, yet it is a worry for the emerging markets that are tied to russia. Yes. The holdings of ukrainian debt are relatively modest, Something Like half of the levels of russia in 1998. That said, it adds to the generally negative musings about the emerging markets. You look across the spectrum. Egypt, venezuela, argentina, ukraine, thailand, a whole group of countries that are in disarray. It is a challenging global environment, i guess. A fear that this may spread . This is something that kind of took us by surprise. Which makes it very unpredictable going forward. No one knows where it is going and that is the reality. I think the biggest knock is on russia, in my mind. That a lot of this is related to developments in russia anyway. Russias greatest Greater Vision is driving this. I think russias problems at home, a weak economy with a lack of structural reform, i mean, where is russia going . In a way, putin is creating a lot of distraction. You say that this will hurt putin because investors will see his i mean, he is not heavyhanded. I guess it is the advice he is giving which has been taken badly by the west. Russia has underlying both Foreign Investors and locals do not want to invest in the russian economy. They are taking money out because of the rule of law, structural problems about institutional strengths, bureaucracy, corruption, that kind of stuff. The perception of meddling in ukraine is going down very badly. And also by locals. Putin and prudent and are worried about copycat events. The kinds of things that kiev wants, rule of law, i think a lot of people in russia kind of want that stuff as well. Timothy ash. Now we will cross live to kiev for the view on the ground in a few minutes. Still to come, sky high fashion. Drones hit the catwalk. Welcome back to the pulse, live on Bloomberg Television and radio and streaming on your tablet, your phone, and bloomberg. Com. Time for a look at todays hot shots. A resounding victory for the german cycling champion in the third stage. Toughders will face a hill climb in the next reggie the competition. And the motorbike grand prix title is up for grabs after the World Champion rider. The honda rider had been forced to pull out of the competition. His team expects him to be back in action in just a few months. A longstanding chimney was demolished in a controlled explosion. 1965, the 200meter tall until 2003. Od many spectators cheered as dynamite tumble the chimney, creating an enormous cloud of dust. Now lets get your asset check. Manus cranny is that the touchscreen. A bit of a mixed picture on this equity board behind me. G20 starting, the potential of some agreement and perhaps these lines to be drawn within the ukraine. Willhe debate at the g20 be between the Federal Reserve and the rest of the emerging markets countries. The United Kingdom, the london market rises for the sixth day in a row. Vodafone tops the agenda. To close a deal where they sell their stake of Verizon Wireless. That, ubs says, leaves this stock particularly undervalued. They raised their price target to 275. Thatsts making the call verizon will come back and bid for vodafone. Once the Verizon Wireless portion drops out. Rbs up 1. 5 . Waiting for confirmation in terms of the story that we will see a radical shakeup at the Investment Bank at rbs. U. S. Equity futures, at the moment, we have a bit of a data crush in the u. S. Today. Existing home sales, we are expecting those to drop by about 4 . At. Equity futures trading 18. 39. We wait for the retail sales in the United Kingdom as well. Back to you. Up next, we speak with a pro snowboarder and all around adrenaline junkie who survived an avalanche. We will show you the technology that saved her life. Just a reminder that you can follow me on twitter. I will see you in a couple of minutes. Welcome back to the pulse live from bloombergs European Headquarters in london. I am francine lacqua. Guy johnson is off today. Rbs is planning to retreat from its Investment Banking business and cut 30,000 jobs according to the financial times. It says britains largest governmentowned lender will announce the restructuring next week. A spokeswoman for the bank declined to comment on the report. Italys incoming premier matteo renzi will present the ministers last to the president today. That is according to the News Organization ansa. Agreeds president has to a plan to resolve the political crisis that has caused chaos in the country. The agreement will be signed in about half an hour. Frances foreign minister says it is premature to say that an agreement has been reached. Standard poors earlier said ukraine is at risk of default as the political crisis deepens. Joining us over the phone from tf is hellmuth thromm. What is the situation on the ground like . I am standing next to the first line of barricades. Freshwatch people loading supplies onto trucks to transport them onto the square which is just about less than a halfmile from here. People are putting on protective gear, bulletproof vest. People on the evene are highly skeptical though the president has signaled he will sign some sort of agreement. I guess the Million Dollar question is whether the opposition leaders will agree to any plan which doesnt really account for the violence and still keeps president yanukovych in power. That is exactly right. Another question is, whether people on the square will listen to the opposition leaders. What we have been asked. Singh over the past couple of weeks is that people on the square have really lost confidence in some of the opposition leaders. I think we will have to see what exactly is in that document that president yanukovych will sign. Rumor has it that he will stay in power through the end of the year and elections will only be held later in the fall. May just say that is not good enough. , thank youhellmuth so much. We have just had some breaking u. K. Retail numbers. They are a little bit softer than expected. Excluding alto, 1. 5 for the month of january. It is lower 1. 5 . Ofwere expecting a decline one percent. G 20 finance ministers are meeting in sydney. They will commit to developing new measures to bolster growth, global growth. Jonathan ferro with more on this. The focusmoment, seems to be on Monetary Policy. You have emerging markets worried about what the reduction based Federal Reserve stimulus is going to do that our economy. You hear from