Im guy johnson. Francine lacqua is on the other side of the pond. She will be back monday. Two of the biggest names in tact going headtohead today with the launches of new products. Samsung debuts its galaxy s6 and s6 edge, both being launched in 20 countries including the u. S. , u. K. , and germany. Meanwhile, preorders begin for the new apple watch. Take a closer look at this new products. Three new products, i guess. Josh and Helen Smathers managing director. Josh, lets start with you. You got your wrist on the new watch. Premium product . Josh absolutely. Apple is positioned the watch almost entirely as a piece of jewelry. What they want to talk about is materials, the process. This is about as premium as you get in electronics. Guy the whole process seems to be moving upscale. We are looking at a story that is increasingly driven at the highend by lux products with nice material. The rest of the world is not going to be buying this. They are buying middle to low and android phones, which increasingly are a problem for samsung. That phone that you are holding it is basically a solution to a problem samsung has with apple. You could call it the iphone 6 for android users. It looks very similar, if you look at the edge you will see that this, the volume side,. The thinness of the phone also. What samsung has done has said looks were killing them. Theyve come out with a phone that ensures looks do not kill them. From here, they have to turn that phone into something they can sell to the mass markets. They have to take cost out of the equation. Guy the formfactor of this, josh, has not changed a great deal. You are tinkering. Josh we are in the valley. We had the peak, now we are in the valley, where everything is iteration. How do you challenge apples marketplace . They went into the big phone marketplace where samsung was dominant and took it over. You have to rise to the occasion. The materials were lacking. Guy this is better . Josh in terms of quality and materials, absolutely. It is bringing it to the level of an iphone. Its just tweaking slightly. Guy so i shouldnt be that excited . Josh if you are and android user and you want a highquality phone with a great camera that is a great product. But for apple users, theyve had this for almost a year now. Pelham the most recent survey showed that when the iphone 6 came out, 20 of people who bought it were android users. Thats not a problem for samsung. In the u. S. , u. K. , and china, 40 of people who were thinking of buying and iphone 6 were android users. That is scary for samsung. Guy how permeable is the barrier . Pelham much more than you think. It works both ways. With netflix and spotify, all of these streaming services, the whole theory of iphone was around itunes. You were stuck. All your content was on apple. It is the same with google apps. All your content is on google. The more youve got these streaming services where a third party is getting everything for you, and those third parties are available on all systems then you no longer have this problem. You can use your netflix prescription on an iphone, on a windows phone,. Guy who does that permeability benefit . Josh on the permeability piece samsung stands to lose quite a bit. They could lose the market completely if they are not careful. Youve got opponents like xiaomi and lg moving into the market. Apple has become incredibly powerful. The fact that theyve cleared that gap they are now in china in a big way, what you are looking at is this situation where samsung has to figure out what its hook is to keep what is not a loyal audience. The audience was only there for features size, availability. Now youve got to figure out what is the play. Guy you described it as a piece of jewelry. Is that because this hoax up to your phone . Josh it is an accessory. This doesnt exist on its own. Youve got to have the phone. On that itunes lockin, heres more lockin from apple. Icloud is a platform that scott some lockin. The watch as related to the phone, if you want this, youve got to have the phone. That takes any galaxy phone out of the mix. Guy you could say they are lucky people that effectively you are limiting your target market. Which way is it going to be . Josh i think apple has a great history of the lockin working. I think that is the direction it is headed. They have to make you want to watch. Guy does it need a 3g chip, a 4g chip, can you make that work in a product like that . Josh i think fundamentally apple needs to answer the question, why do i need this on my wrist . With a phone, you know you are going to get a phone. This, many people dont wear watches now. First you have to say, you want to wear a watch. That is the jewelry part of it. Then youve got to have the killer apps. Right now, it is an extension of the phone, but that is not reason enough for a lot of buyers. Pelham probably 10 Million Units in the next 12 months which is in bad. Better than the original iphone. Josh there are enough enthusiasts that will buy it sight unseen. They just want it. Pelham the really interesting question, it is not that good at identifying who you are. If they get a watch that identifies who you are, they are well on the way with security. Guy biometrics are really important. Pelham once this gets to the area of security, we get interest from enterprise. When the phone started, the company you work for bought it for you. Suddenly, everybody wants to have their own phone. Companies have a huge problem with cyber security. If somebody is logging in from a remote terminal they are not altogether sure it is one of their employees. What seemed to help them do that is if somebody is logging on and because of the connection with the watch, the iphone, and perhaps an app inside the central server at the company identifying who it is logging on, they will be able to limit security. That would be a huge win. Guy biometrics looks like it is going to be really interesting. Josh i think the body tracking features are kind of secondary in terms of what you may use those four. I think at that point, security is an increasing issue for everybody. How you protect your identity your credit cards. There could potentially be a use here where this becomes so personal. Guy personal is really frightening. Josh when it is on apple servers. Guy we are giving these guys an awful lot of data. Companies like google have built their businesses on us being willing to give them our data. Are we going to increasingly be willing to give them our data . Josh we dont have a choice right now. Everything moves into the digital realm. Our entire lives are going to be there. Who do we trust with the data . Who can really prove to us that they can protect it . I think apple is in one of the better positions. They have been they do not have many large security breaches. They are extremely focused on privacy and security. That has been from day one. They are better positioned than many. Guy that feels like a very different device than this. This goes in my pocket, that goes on my wrist. Josh it is reading your heartbeat, tracking where you are going. Guy is apple better positioned . Is google better positioned . These companies have been harvesting everything that we give them and they are incredibly strong positioned as a result of that. Pelham i think we could have multiple winners. The obvious groups to start with are those that are strong in software. Samsung is actually quite good at software. What they are not good at is original software, coming up with left field ideas to put into hardware. That is where apple and google have this huge head start. All the stuff were talking about is stuff that has been through apples had orders in the last five years. Theyve got something better. Probably the same with google. Samsung, they always seem to be a few years behind when it comes to the original idea. Take samsung pay. How long have we had it for apple . That, i think, is the issue. Why do we always think, start with apple google, because they seem to be one step ahead throughout the software chain. Guy we will leave it there. Thanks for your time. Just topolsky, pelham smithers. That brings us to our twitter question. Are you going to order an apple watch . Let us know. Let us know what you think of it. Are you going to look at it . Let us know. Join the conversation. What else is on our radar . Deutsche bank is close to resolving a probe by u. S. And u. K. Authorities into Interest Rate medical nation and is expected to pay penalties more than 1. 5 billion. Germanys biggest bank will probably finalize a settlement this month with its u. K. Subsidiary. Deutsche bank is expected to plead guilty. Hsbc has been ordered to pay a 1. 1 billion theyll charge after being charged with tax evasion at its private bank. Hsbc said it was informed of an investigation regarding its private bank in 20062007. It said the decision is without legal basis, and the bail is unwarranted. U. S. President barack obama and cuban president castro are in panama today for a summit of the americas where they could meet for the First Time Since they announced plans of restoring diplomatic relations. It will be the first time cuba takes part in a summit of the americas. Coming up, a deal insight. Greeces finance minister tells bloomberg he wants an agreement in two weeks. Guy welcome back. You are watching the pulse. Deutsche bank is close to a 1. 5 billion deal settling investigations into libor manipulation. According to people familiar with the matter, the possible deal with the include deal will include u. S. And u. K. Authorities. Hans nichols has the story from berlin. Hans 1. 5 billion would be north of one point ubs, they were right at 1. 5 billion. That was the High Water Mark up to that point. Rabbo bank paid 1. 1 billion. It gets a little confusing translating from euros. Barclays came in at 451 million. Lloyds bank paid 383 million. This would be the biggest settlement. It would also include potentially a guilty plea for their u. K. Subsidiary. Barclays never actually pled guilty. They were one of the first banks in. Deutsche bank has already settled a yen and euro libor probe with european authorities. That came in at 725 million euros. What analysts are saying is that this is good news. It removes the uncertainty. One of them said, the psychological effect is that the uncertainty is gone. For Deutsche Bank libor is one of the last big legal disputes. It includes two countries and the new York State Department of financial services. The Cftc Velasquez shop and the cfa in the u. K. You have multiple regulators coming together here. Deutsche bank set aside 3. 6 billion euros last year for legal provisions. Over the last three years, 7. 1 billion euros have been spent by Deutsche Bank on litigation costs. We are getting a sense of how big this probe is going to be. Now, when will it be finalized . It looks like this month. Guy how far through this process on libor are we . Hans looks like we are almost getting there. Seems like we are close to the end on libor. When you say close to the end on all litigation, no. For Deutsche Bank, there is still a question of foreign currency manipulation. Remember the part of the deal that was announced last year. Deutsche bank wasnt part of that. It was a 4. 3 billion euro settlement last year. Deutsche bank, they say they are in the clear on the currency side. However, we still have iran potential violations with iran. You remember what bnp paribas paid. That was 9 billion euros. In the past, Deutsche Bank say they are provisioning. They say they think they are through. Will there be much more, and how much more, and once all these probes over are they finally clear and free . Guy hans nichols, thank you very much indeed. We need to talk about hsbc in a little more detail. Let me run you through what has happened. The bank must pay just over 1 billion after being charged in a criminal probe of tax evasion. Hsbc has responded. The bank says it will appeal and the decision is without legal basis. We are going to take a break. After that as the u. K. Election draws near, we will explain the system and why the most important thing is location, location location. On the move guy welcome back. Lets talk about the u. K. General elections. Actually, it is more like 650 local elections. It is because of the voting system. While the setup is fine for big parties, the smaller parties are the ones that suffer. Rob explains why using a set of projections from the beginning of the campaign and some legos. It is a matter of winning the most seats. That means getting your votes in the right place. The system actually helps the bigger parties. Labor is 33 of the vote, translated to about 42 of the seats in parliament. Same thing happens to the conservatives. For liberal democrats, they are 8 of the vote, 4 of the seats. Ukip, that is 4 of the vote, 1 of the seats. For the greens, 5 of the vote is likely to turn into just a single seat. But it doesnt have to be like that. The Scottish National party they are about 4 of the vote. They are forecast to win as much as 7 of the seats in parliament. This is why the small parties in britain support electoral reform. Guy more about this later on our politics program. We will bring you our latest polling. We will find out a little bit later on. In the meantime, let me show you what is happening with the british pound. You are beginning to sense a bit of nervousness. The data today, obviously something to Pay Attention to. Nevertheless, getting a sense, this feeling beginning to emerge that people are starting to Pay Attention to the risks that could be posed in the postelection period. We have all kinds of issues to deal with. Minority government, unstable coalitions, all of that. Stocks a little more positive. We are up by 0. 4 on the euro stoxx 600. We are moving into record territory in terms of the European Equity space. You are seeing that reflected in the flipside on the bond market. The french fiveyear the market really fascinating at the moment. Increasingly, the curve continuing to flatten. More and more of these bonds being pulled into negative territory. What have we got coming up, we are talking greece. The greek finance minister tells bloomberg he wants an agreement in the next two weeks. He wants money for his economy otherwise problems are going to start. Our twitter question of the day, about what is happening with the watch launch today. Apple watch, as useless as a Remote Control for your posterior . Plenty of tweets coming through. Continue to bring them in. The pulse. [office phone chatter] [frogs croaking] you know what, let me call you back. What are you doing . [scream] [frogs croaking] [yelling and screaming] its back Xfinity Watchathon week. The biggest week in television history. Its your allaccess bingewatching pass to tvs hottest shows, free with xfinity on demand. Xfinity watchathon week. Now through april 12th. Perfect for people who really love tv. Guy welcome back. You are watching the pulse are coim guy johnson. Lets talk about what is happening with the u. K. Data. 0. 1 . We were looking for 0. 3 . The pound is trading at session lows. Saw a dip around half an hour ago, and we continue that move to the south side. We are now trading on the cable rate of 1. 4672. We are down another three cents. More softness coming through on the back of the ip data. Looks like it is a little on the soft side. Let me bring you some of the other news you need to be aware of. Samsung is debuting two new galaxy smartphones today. The company has said that demand for the galaxy s6 average, which features a screen stretching down both sides, will probably slightly exceed demand. Analysts say shipments could reach 55 million this year. Meanwhile, apple is taking preorders for the apple watch today. The smart watch will also arrive in apple stores for previewing. The watch is apples first new gadget since the ipad debuted five years ago. It is also the first to launch under its ceo, tim cook. Hong kongs de facto central bank [indiscernible] the hang seng benchmark hit a sevenyear high on thursday. The greek government has secured an increase in emergency funding from the ecb. The news comes as the finance minister told bloomberg he is confident that a deal will be done this month. For more, lets bring in our reporters. We are joined by manus cranny who spoke to verify his, and in brussels, our bureau chief jone ss haden. Manus i think the finance minister made a real split decision moment. Im doing well with these negotiations however, when questioned about dispensing with deficits, hes going to get a good result. This is the finance minister. Lets take a listen. [indiscernible] if we have a bump in tourism, which i trust we will as long as this produces a good outcome and we have stabilization of the economy and the creation of [indiscernible] regarding the debt situation, i think it is essential that we look our creditors in the eye especially citizens of countries who have lent to the greek state , and say to them that we want to maximize the value that you get back from us. The way to do this is to have incentive compatibility. If we have parts of the debt swapped with gdp bonds, it is clear that the more we grow, the more our creditors get back. We dont want to elongate security. That is not something we are seeking. It is not our preferred solution. We want to pay as much as quickly back, but if our repayments are linked to our nominal gdp growth this is what were asking for. To have smart swaps of debt with instruments that lock in this kind of incentive compatibility so that we [indiscernible] our fellow citizens will know that their countries [indiscernible] manus theres the point. The finance minister is trying to say, no haircut. You get more money back. [indiscernible] theres big payments due next week. Turner i caught up with him. He said theres no way. Not just greece, but the whole eurozone can suffer under the debt load. When i said, are you ready for the political backlash, he said we wouldnt be fit to the purpose if we are not prepared to stabilize greece. We are prepared to take also the compromises but we are not prepared to be compromised. He hung around with me for eight minutes, more than other people. Guy no comment. Thank you very much indeed. Jones, in a world of deadlines for greece, what is the next one . Jones right now, there is a big meeting next week. The eurogroup deputies are gathering in brussels. They are looking for details of greeces plan. Greece is talking about what it is going to do in the future. The eurogroup is focusing on its current Bailout Program. In order for greece to get the next tranche of its bailout money, it needs to flesh out the plan that its already submitted. The eurogroup send it back to athens and said, we need more details. We n