Yesterday. This morning you see green arrows across the board. The dow indicated to open up by about 63 points. S p futures are 8. 5 points above fair value and the nasdaq up by more than 22 points. The bond market, the tenyear note is yielding 2. 722 . And check out the dow utilities. That index closing at a record high for the first time in six years. It added three points to close at 554. Yes. Well see what happens today. Lets get over to andrew right now. He has more of todays top corporate stories. Andrew, good morning. Good morning to you, becky. That whole Net Neutrality issue may be over. Netflix will pay verizon to deliver Faster Service for delivery of its movies. Netflix struck a deal with comcast to pay for faster delivery over the internet through a practice known as interconnection. Weeks later, Reed Hastings came out, saying he reluctantly agreed to pay the fees so his customers would get better service. Now its a trend. Prices of netflix may be going up as well. Thats the word. Take a look at shares of netflix, however, trading right now about 314 a share. Staying connected at 35,000 feet. This is good news for those of you who take a lot of airplane flights. The road warriors, at t planning to launch a highspeed lte based flight, Inflight Connectivity service. At t says it will build an airtoground network in the continental u. S. To provide speed and unitalization. This will be a competitor to gogo. For those of us who spend time on planes, i am a gogo subscriber, im happy to go, go and go, go to at t, because it is so slow. Gogo is slow. Im happy somebody will get into this game and compete with them. Continental united is apparently building a system of its own sort that is supposed to be fast. Right now, remember when you have a 9600 baud modem . Im go going to at t or whoever else can do better. When you say going connected at 35,000 feet, it means something totally different. Where are you going with that this . I know how you stay connected. Connected to somebody. Disney striking a deal. You wish. That never happen, though, did it . No. That is on your whats that called. That was in your you have a wish. A bucket list. Thats with on your bucket list. Here you are. Here i am. Nothing to check off the list. Nothing. How about that. Disney with a partner anyway. Oh its early. What time is it . 6 03. Disney striking a deal with its chinese partner to speed up plans for shanghai disney, the Magic Kingdom increasing its investment in the upcoming resort and theme park by an additional 850 million. The increase investment will be used primarily to Fund Additional attractions to increase capacity at the park. Most targeted to be completed by opening day, our Brian Sullivan caught up with bob iger at the millican conference. We decided with our partners in the shanghai government to accelerate, essentially the expansion of the park that we figured would be expanded. Moving along. Weve been so impressed with these developments that i just cited, we thought it would be smarter to expand faster. The intention is for this additional 800 Million Investment to be ready for the most part when opening in late 2015. Mr. Iger also commented on a story running in fortune that disney was arrested in acquiring buzz feed. They are said to have been looking for a billion dollars. Heres what iger had to say about that. We had conversations months ago. Theres nothing active with buzz feed right now. I love that media space. We ended up buying maker studios. Not quite the same but some similarities, short form video, viral video. I think were probably at this point we have a full hand in that space. If youre wondering, buzzfeeds last Capital Funding in january of 2013 was 19. 3 million. And at that time it put a 200 million valuation on the company. Thats incredible. Buzz feed its gone up its quintupled. Bu buzzfeed could have been a good fit for John Steinberg and his satchel, because disney owns the Indiana Jones franchise. Theres also an attraction at disney theme parks about that. Youll be participating, too . There i am. Joe jones. Very joe jones. Philly joe jones was a great jazz player. Played with miles in fact. You know today is Duke Ellingtons berth dirthday . 115th birthday. Im sweating. I have something. Does that explain whats going on . What do you mean . Why im sweating or why im with your Mile High Club already . No, thats me every day. Nothing smells. Its the calm before the storm, i think. You both had it, right . I had something. I had something, yes. We both had something earlier. They try to i think i had the flu, too. They tried to trip me up in the teleprompter about ackman and icahn. You said they kissed an made up. I say burr rid the hatchet. I think it has something to do with native americans. Really . Doesnt it . Remember the seinfeld where you cant use buy tickets i cant keep up with everything were not allowed to say. Theres a story coming up that we have to be careful. These people do not think were out here on the front lines. Were on the front lines. Joe johns is on the front lines. When you gave me what . I dont remember already. All right. You better rest for a second. Im glad jeff is here today. Ill hand it off to him. Im handing it off to jeff. We have a lot to talk about. Jeff seinfeld is here, jeff steiger is here. The biggest names. Tyler mathisen will be joining us. We have a lot to talk about. Debate. I heard you heckling. We agree on some of these things. Yes. Were in cahoots. Youre heckling somebody. Im heckling other people. Thats why we did this list. It makes you think. The idea of trying to come up with the 25 most important Global Business leaders over the last 25 years. If you are a really important Global Business leader, normally theres a political aspect to it and we sort of said no political people can be in here. Sort of. But we did put pseudo political people are in here like bloomberg. Were not supposed to talk about it. I thought we did a big story about him yesterday. Theres a tease. Im going to blow the lid off of this thing. Steve jobs is in there. Its 7 00. You know steve jobs will be there. Bill gates better be there. Why . If not, well have a lot to argue about. In the meantime, lets get a check on the Global Markets report. Ross westgate is standing by in london. Good morning. Give us an update on whats been happening right now. A lot of green behind you. Becky, very good morning to you. Can wait for the list. Who knows who will be in there. If would be hard if steve wasnt. Three hours into the trading day in europe, certainly weighted to the upside, advancers currently outpacing decliners. Helped by and large a pretty good graph of earnings. The ftse 100 was up 0. 2 yesterday, higher today by 0. 66. The extra dax is up around 0. 75 . The ftse 100, focused on the gdp numbers, first print of gdp in the uk coming in at 0. 8 . Some thought it would be 0. 90 annualized rate. 3. 2 , the strongest since the Fourth Quarter of 2009. German market heads up a percent today. Consumer confidence, up near a sevenyear high, despite whats going on in ukraine. The cac current is up 0. 4 . In russia, up 1. 2 as well. More on that in a second. Earnings higher today. Nokia leading the european indices after unveiling plans to return more than 3 billion to shareholders in buy backs and extra dividends. The stock today up nearly 8 . This is despite a slip in the companys First Quarter revenue. Although investors also appear to be welcoming the firms new ceo. Good moves higher from deutsche bank, up 2. 6 . It also announced a bond issue to increase the strength of its Balance Sheet. No news about a capital hike. We did get more announcements today on the methodology for the european banking associations stress test which are coming out for the eu today. It will include fx an a spike higher in sovereign bond yield as well. Were focused on bp, the stock up not quite a percent in london. The oil giant saying earnings at its russian partner, rosneft, have been hit by a weaker ruble. That firms ceo has been hit by u. S. Sanctions. Talking about the sanctions being announced by the u. S. And the europe, the kremlin has denounced the decisions to ramp up on sanctions on al lies of vladimir putin. They say its cold war tactics. The most high profile name on list of seven individuals. Here they are. Igor sechin is the ceo. Thats where we stand right now as far as europe is concerned. They are targeting the deputy Prime Minister dmitri kozak. Is that the top 25 list . No. Im sorry. Just here. Thats not them. Those are not whats your tax rate, ross, for corporations . We have a Big Drug Company that used to have a 400 billion market cap. We really dont care that much about it anymore. Were more focused on raising the minimum wage and keeping pfizer here. You may get pfizer as domiciled in the uk. You have a 21 tax rate and we have a 35 here. Youre welcome. Youre happy that pfizer beat retailers over here . No. Im furious. In this country when states do this, illinois or some state, we understand. The Companies May exit and wealthy people may exit and go to texas. They may go to florida. In the halls of power in washington, we dont seem to understand that tax policy has an effect on the entire country. We could lose pfizer. Ge wants to invest abroad in france because they want to leave their cash over there. Valeant is able to give a better bid than anyone else. Its happened with a lot of companies. Activist when it bought warner chilco chilcoat. Youre looking at chiquita brands. The french, thinkio pla thin. It will affect 2 of the work force and instead i wasnt going to get started on this. Im feeling a little under the weather anyway so im even madder about things. Well continue that conversation. You want to . Are you unhappy about this . Im as unhappy as you are. You certainly arent showing it. Im legitimately livid about it. I think you have to change the tax code as a result of it. There, okay . In my case i think we should lower it. I dont want to raise it. You want to raise it 100 , make it not for profit. The question is what is the number . To me thats the question. How do you do it . To me whats fascinating on pfizer is its the distinction between who do they pay, 27 . Its basically a 5 or 6 spread. Theyve decided its 200 million. You also have to believe they have to believe that by doing this in the uk, the uk number is not going to go up. Somehow their government is so much better than ours. To me is an indictment. Theres research and Development Tax advantages you get in the uk, credits that you arent getting here. What im arguing is the longer term, the board has to be deciding im saying its an indictment of our system, that the uk system for only what i would argue is a 5 spread, which i know is a lot of money, that spread will remain. Its possibly going to get worse here. President obama gave cursory lip service to wanting to do something with the tax code and left it there, left Simpson Bowles there and has moved on to wedge issues to help win the 2014 election that dont structurally help anything. We have no leadership to do anything like this. Five years you might look back and there may be five, six, seven pfizers, not domiciled in the United States because of this. The question is youll have people with second jobs, Rich College Kids getting 10. 10 an hour. Enough said. Lets talk about herbalife for a second. They are reporting a 9 increase in global Sales Volumes for the First Quarter. The dividend suspension prompting praise from investor carl icahn on twitter. He calls it a great move, confirming confidence in the future. Thats what hes saying about it. Shares of herbalife, 58. 50, down slightly in after hours. This is just weird. Herbalife, the company that led to one of the biggest public feuds in wall street history right here on cnbc, activist investor bill ackman bet against the stock while icahn took the other side. That happened a year ago here on cnbc. This is not an honest guy, not a guy who keeps his word and he takes advantage of little people. Hes a quintessential example, on wall street if you want a friend, get a dog. Fast forward today, the wall street journal reporting, icahn reporting, too. Icahn and ackman have buried the hatchet, they kissed and made up if you can believe that, after a 30minute conversation last week, icahn and ackman forgiving each other. Apparently ackman says i want to forgive you, icahn calls him back, says its a blessing to forgive. He called him up and says i want to forgive you. Not im sorry. I want to forgive you for being a jerk. Everybody is in a jerk in this. Everyone is calling the other dishonest. Ackman told you what he did was called him up and said im reading right here. It says we do did a reenactment. Im calling to forgive carl, he says, to carls assist and the. Who might be his wife. And then dont go there again. He calls back and says it is a blessing to forgive. I forgive you. Youre sick. I dont want to kiss and make up right now. Its not surprising. Its all business. Anyone who has seen g1 or g2 knows it happens this way. They tried to bump off someone and went to his son. Its business, sonny. Business. If you look at the godfather, what happened to his brother out on the lake. He betrayed them. Can we talk about, how is it possible listen, didnt this just happen with ebay . You see how it happens. They dont mean this stuff. Its all theater. They dont mean the insults or they dont mean the forgiveness . Both. I get it. Its pathetic. You cant walk around and call people dishonest and tell everybody theyre horrible and miserable. Why, when obviously you do. You do. Theyre dishonest to begin with. Go on. Youre saying thats okay. Go on. I guess this is the way of the world. In business, so nieve. All is fair in love and war. Pollyanna. Even the deal with comcast and time warner. They hated each other, now theyre the best of buddies. Make up your mind, are you irate . Get a spine, people, get a spine. Thats what i have to say this morning. Coming up, corporations picking taxfriendly countries. Part of pfizers proposed deal for astrazeneca part of it would have it calling the uk home. Its good news if you dont like corporations. This is a big day for cnbc. Were about to reveal the first 25 list of rebels, icons and leaders who have transformed the world of business. Well couldnt the them down at 7 00 eastern time. More squawk in a moment. Pfizer could avoid u. S. Corporate taxes by buying astrazeneca. We talked about this yesterday before it was really clear. The company said if the deal goes through, it will be domiciled in the uk instead of the u. S. This is the latest in a string of proposed deals that would shift u. S. Assets abroad to avoid payer higher Corporate Tax rates. Id like to get mad at ian reed, who i think is uk. I know him. Hes complained about the u. S. Before. I dont blame him. Since he took over as ceo p. I dont blame him. I would say this brit is working his own hand, bringing it back to his own company. Thats not what it is. Hes entitled to this because of the way it is here. Joining us now, jordan kaplan, partner in private equity practice at wilkie, farr and gallagher. I dont like this. In staying at 35 , cant we learn this, if you get zero because the company moves, then maybe you should have come down and tried to get 25 . Again, thanks for having me joe. Two issues, one is the tax rate. 35 is higher than most industrialized countries. And higher than the uk which is 22 currently. Doing down. Possibly. The other aspect, which i think is a bigger aspect, somewhat underreported is this not going to play into our narrative. It will play into your narrative. Go ahead. The second aspect is that the u. S. , unlike most industrialized countries, taxes worldwide earnings. This is the repatriation issue. Its exactly the repatriation issue. Something that needs to be fixed. Its the two issues that creates an incentive to keep or push assets overseas. The latest proposal in the 2014 uj aboutette proposes to change the inversion rules, as long as u. S. Shareholders own less than 20 , they want to change that to 50 so it will make this harder if it passes. What do you think the chances are that it passes . I think it has a good chance. Will it be a race to the gate. Instead of trying to fix the tax code and make Companies Stay here theyre making it harder for them to go overseas. Thats exactly correct. Do you think theres a race to do this . There is very arguably a race to do this. Youre in the boardroom of these companies. Whats happening . Its being discussed. Some of this is getting overstated. Most of these deals i talk to clients all day long. We dont talk about deals being forced by tax rates. We talk about deals being led by strategy, valuation ian is talking mostly about the tax rates. I dont think hes talking mostly about it. Its worth mentioning. Its a big component. Im not saying its a big component. Is it the primary component . If you talk to any of the ceos, the most critical factor is, is it a Good Business decision in then tax is a very important secondary issue. Secondary. Its nice to have. It goes straight to the bottom line and the ceos have an obligation to do the best for their shareholders. If youre looking at a taxed arbitrage, a lot of industrialized countries purposely lower tax rates to encourage outside investment. This will continue to happen. For the u. S. , you have to deal with repatriation and change the rate. On a competitive land escape, talk about the race to zero globally, if 21 , is that the number . 22 . What does the number have to be . How high can the number be in the u. S. Without forcing numbers overseas . Thats the game youre playing if youre in washington. Its part of the game. The second issue is the more important one. Where earnings are taxed. More important than the exact rate. Because the effective tax rate matters more than the actual stated tax rate. Do you think philosophically, we know with intraUnited States, we see Comp