The bulls eye on target as the retailer has its Earnings Report since it suffered a Security Breach during the massive holiday season. U. S. Senate Panel Investigating tax evasion has accused Credit Suisse of using cloak and dagger tactics that belong in a spy novel. It alleges c. S. Bankers made 150 trips to the u. S. Between 2002 and 2000208 orchestrate a large scale tax evasion scheme. Some of the things Credit Suisse is accused of operating remote controlled lifts, and bankers accused of filing false visa applications pretending they were tourists and advising clients how to dodge u. S. Tax laws. The Senate Hearing kicks off late today, shares trading at the bottom, just down just over 3 in trading today. The firm came out to say it considers its insurance policies for wealthy u. S. Citizens to be tax compliant. Credit suisse has been preparing for investigations into its products known as insurance wrapper wrappers. The long arm of the u. S. Treasury, by the way good morning, everybody. You didnt say good morning. Good morning, sorry, good morning. Good evening if youre watching in sipping apore as well. Good emails coming out of Credit Suisse or conversations out of the investigation . Its a little bit embarrassing. We were waiting for the juicy details. Interesting, there is going to be a comparison with ubs, they settled several years ago 780 million they settled for and Credit Suisse settled with the sec and did say to us the latest earnings theyre just waiting now for the department of justice in the u. S. To state their claim and how much they expect them to shell out at this stage. It will sort of be interesting. Edmund shing is from bcs financial group. Good morning, ross. Nice to see you, youre looking very chipper. How much more stuff coming down the pipe . This is a whole series of things. If theres one thing i can say, thank god i dont work at one of the big banks anymore. I used to. I dont anymore and i fear for them. Its been an unending stream of bad news from the regulators. Regulators have cart blanch to get tough and when you look at the banks results on top of that its having an impact. On the one hand they have to pull back their Balance Sheets and be compliant, tidying up their activities, they cant stop paying their bankers otherwise they disappear to the rivals down the road. They havent started the Foreign Exchange investigation yet. Remember the german regulator thats bigger than the libel scandal. Perhaps more expensive as well. Thats what it normally means. Credit suisse raised provisions again for this. Aint going anywhere. Thanks. Well come back to you in a second and talk about earnings. Airbus announced a hike in aircraft production and posted a 21 rise in fullyear operating results, see it a first on cnbc interview. 1. 3 about euros in 2013 dipped 1 , a slew of uk earnings, itv will pay a special dividend of 161 Million Pounds off to a sharp rise in 2013 revenues. The british broadcaster was boosted by a lift from money coming in nonadvertising channels. Travis perkins appears to be reaping benefits from an upturn in uk house building. The Company Posted a 6. 3 rise in its full year revenue. Speaking first to cnbc earlier the ceo of the uks largest builder merchant says he sees room for further growth. Even though we are number one of Building Materials in the uk we have a lot of head room to grow. We have 17 businesses within the group, each a minimum of 25 head room to grow in their particular channel or segment. Edmund, you like the house bills in. Im a big fan of house bills because were at the best point of the cycle for them. Think about it. House processes are going up in london and the southeast, help to buy, the governments throwing petrol on the games and getting the house market to be as buoyant as possible, of course this is not preelection engineering, i would never suggest that, however, House Builders are in the best possible place and Mortgage Rates come down to a postcrisis level. Theres a lot more fuel left in this particular fire . I think theres a bit more. I dont see how london and southeast are going to see house prices flattening out just yet. Can i draw you to another sector . Try me. The turn in the bear trend for the miners here. I love miners. Nearly two years now theyve been right because they did spend too much money. C capex way ahead of where it should be. Prices collapsed and prices have stabilized for things like copper, iron ore. More importantly they rediscovered capex disciplines. For the rest of the market for the wider market to get interested in miners, i think at the end of the day its going to boost them is its got to be better sentiment around china, doesnt there . Absolutely. China is the key driver. Everyones getting nervous because the u. N. Has been fixed below for the second wednesday in a row. I would be careful because the government does what the government wants in china. Remember this is not a democratic government. They have a longterm strategic economic plan in place. We will see a moderate acceleration of growth. I dont think well see it 7 or below growth. I think its more like to be 7 1 2 plus, which would be good news for miners. Talk to us more broadly about european equities. The large cap making moves, volatility well contained. Bullish signals . I would say so. Little note of caution there, because i must admit when everyone gets bull ush i get nervous. When the Retail Investor is confronted with the scenario where Bank Interest rates are abysmal and getting more abysmal by the day, bonds look dreadful as well, where are you putting your money . In equities and property, those are the only two asset collapses that seem to offer any sort of hope for the Retail Investor but that makes me nervous. When everyones piling in, i think i should be getting out rather than getting in. Its too early to play that end game. Talk to me about tech stocks, valuations what, do you think about that . Tech stocks are bizarre. Its like how can i put this . Like a barbell scenario. You like facebook, linked in, or some astronomical valuation which i cannot possibly with the best intentions cannot justify. I dont know how you get there. On the other hand you have things like apple on eight or nine times post cash earnings, super, super cheap, still generating phenomenal amounts of cash flow and in particular i would focus on semiconductors. They are in another place people love to hate but going up fast. Controversy from edmund. We like it. Good to see you as always. Bcs financial group. Good. Sounds good when you say it. Also on the agenda stateside, target is set to report Fourth Quarter earnings before the opening bell. Investors are looking for any update on the breach that saw over 100 million customers data stolen, how much is their bottom line and what kind of shadow weather woes have cast over its Fourth Quarter. U. S. Secretary of state john kerry says the crisis in the ukraine doesnt need to lead to conflict between the kremlin and europe. William hague urged all parties to cooperate. This is not a zero sum game. It is not a west versus east, it should not be. It is not russia or the United States or other choices. This is about people of ukraine and ukrainians making their choice about their future. Meanwhile russias foreign minister said that aid to ukraine should only be provided to legitimate ukrainian authorities. Were joined by jim from moscow. It may not be a zero sum game as far as kerry is concerned but it is as far as Vladimir Putins concerned, isnt it . Hes been incredibly silent over the last two weeks. Whats going on with him here . Reporter thats right. What happens next will obviously be very much dependent on what Vladimir Putin does next, and so far we simply havent heard from the guy. He had a meeting yesterday with his top Security Council but no information came out of that and i think that this is really whats driving the uncertainty about what russia does next, because putin, after all, must be reeling from the loss of face, if nothing else, from this revolution in ukraine especially given the timing of it, right at the height of putins olympic glory, and we still dont know what hes planning. Perhaps hes waiting to see what the makeup is of the new government in kiev, before he plays his hand. In any case, julia, the overall sense were getting from experts were talking to here in moscow is that putin would only use intervention or even encourage a split in ukraine as a last resort meaning if one of two things happens, if the ethnic russians in ukraine are seriously threatened in some way, or if russias economic interests and influence are cut off, those would be, we are told, the two red lines that might trigger something more dramatic but for now its been pretty much as you said with Sergey Lavrov muted, cautious and pretty calm. Back to you. Thank you, jim. Crucial potential flash points there. Thank you. Just over an hour and 1 minutes into the trading day in europe, down again. Advancers outpaced 7 3 the dow jones 600 and the bottom of the session. U. S. Stocks mildly off for the dow. The s p hit an intraday high, fresh intraday record high before finishing off 0. 1 . The ftse is currently up 0. 1 . Freshry yields came down, treasury market rose, yields on tenyear, 2. 7 , and 2. 74 was the yield. We did have weaker Consumer Confidence, the number came at 78. 1, we thought it would tick up to 80. That weighed rather than focusing on house prices in the u. S. That were stronger than expected, the best increase in u. S. Home prices since 2005. Elsewhere italian yields still falling below 3. 6 on the tenyear yields if 3. 57 on the currency, the dollar under pressure today, around 137. 50 yet on euro dollar, still sort of there. Not far away from where we were january 2nd. Aussie contained and the pound 1. 67, we have second gdp coming out in around 15 minutes or so. Lets recap asia. Thank you, ross. China markets managed to reverse early loss rebounding a bit after yesterdays selloff. The yuan hit a is enmonth low. Over in japan the nikkei 225 pulled back from fourweek highs ending down 0. 5 , hurt by weak u. S. Data. In australia, finished about flat so gold miners were offset by oil producers. Some individual stocks we are watching the Hong Kong Exchange posted an 11 rise in 2013 profits and a 21 jump in revenue. It was a big year for ipo at 169 billion hong kong dollars were raised representing an 8 rise from the year before. Shares ended lower by 0. 2 today. Sinopecs shares soared over 4 on hopes the company may soon announce next steps in its reform plans. Last week the oil giant said it will sell up to 30 of its retail oil business to private investors. Weve been getting tesla euphoria here in asia. Warren buffett backed chinese carmaker byd spiked 10 to its daily upper limit in the mainland and up almost 10 in hong kong. This is thanks to tesla 30 search and beijings plan to build 1,000 quick charging poles for electric cars this year. Japans panasonic jumped over 5 today to a threeweek high. This on investment plans to build a u. S. Car battery plant with tesla. So thats a look at asian markets. Back to you. Thanks very much for that. Well take a short break. Still to come the european ipo market is finally showing signs of life with possibly the best start of the year since 2007. Stay tuned as we head out for this years conference. What is this place . Where are we . This is where we bring together the Fastest Internet and the best in entertainment. We call it the x1 entertainment operating system. It looks like the future we must have encountered a temporal vortex. Further analytics are necessary. Beam us up. Thats my phone. Hey. [ female announcer ] the x1 entertainment operating system, only from xfinity. Tv and internet together like never before. If you live in beijing, stay indoors. Thats the message from the World Health Organization. Air pollution levels have been soaring hazardous levels of smog have been recorded since last thursday. Recent readings show harmful pollutants 18 times the level recommended by the w. H. O. The organization is calling on chinas government to improve air quality longterm. Might do something short term as well. Chinas corporate debt load has hit 12 trillion and climbing, and analysts say higher boring costs could lead to more merger restructurings to stave off defaults. And Carlisle Group appears to be closing in on tycos south korean security business says the firm is in exclusive talks to buy adt caps, the business valued at encloses to 2 billion. Several of carlisles peers also handed in bids. Whilst thats going on private Equity Investors are sitting on huge piles of cash but are they going to put it to work when and where . Major players have been speaking to cnbc and revealing their views on europe. I think the worst is behind europe. When the eurozone crisis occurred there were three concerns, one, will the euro go out of business now that its clear its not. Second, will there be Major Bank Failures, clear thats not going to happen and three will the ecb have to bail out italy and spain and that didnt have to happen. I think the wrors orse is behin europe. Im positive. Today its about 60 investors are considering investing in europe and it is the place in private equity to invest at this time. David and guy hands speaking to anneta at the conference in berlin and joins us for more. Annette . Reporter thank you very much. Europe is very much big back on the agenda compared to the last years ive been covering that where europe was really not the place to be but for this the valuation of the industry and where to find Investment Opportunities im joined by robert koch, head of absolute return at the welcome trust. Thank you very much for joining us here. My first question would actually be what are you hearing from your fellow private equity peers . Is it really hard to find Investment Opportunities right now . Yes, i would say it is. The industry is in root health, distribution is huge in the last two or three years. Its a sort of indicator when things are that good that you should be careful i guess. Were getting a bit concerned. We think its getting close to the top, the debt market is very strong and its a bit of a negative indicator i guess. Are you in a better position as your only i have to say targeting a real return of 4. 5 , which seems pretty low for the private Equity Industry . Yes, thats for overall for the private equity because of the liquidity we expect to get a slightly higher return at 4. 5 and we over the years managed to outperform the Public Markets by a very consistent margin every single year in fact so thats worked for us. I guess overall we dont have to invest in private equity and we at the moment are probably ratcheting it down a little bit. Theres not that much else we find interesting in the world, perhaps a little bit of mining opportunities or emerging markets, private equity, slightly less attractive but still theres not that many obvious opportunities in the world at the moment. Reporter arent you put off by the recent developments were seeing in a lot of emerging markets i. E. Political instability . Why where theres disaster theres opportunity i guess. I know that makes me sauound a little bit callous at the moment. Were looking at turkey and brazil, some of the place have been hit were investing in indonesia, some of the places hit by negative economics, not so much political turmoil although thats true for turkey we find good investing and valuation. For countries that have generally decent macro trends over the longer term, so buying opportunity for a longterm investor. Reporter staying a little bit with turkey, its not so much the forex aspect youre looking at when making investment decisions, right, is it more retail driven or what are you looking at especially . Reporter in turkey its valuations, just attractive prices for assets which we think are going to carry on through the couple elections that are coming up there and we think theres opportunity created from that. Forex is a negative so we expect the lira, the current deficit is an issue in turkey and we expect the currency to remain weak so we have to consider that when making investment proposals, we have to assume a little bit of, not a currency strengthening anyway, probably weakening if anything and brazil is a problem for currency from that point of view and equally as a sterling uk investor we find the dollar quite cheap so we find u. S. Assets quite interesting at the moment. What Goes Around Comes Around i guess. Reporter thank you very much for joining us. Julia, that is from here. Well be back in an hour with another interview. For now pack over to you. Thank you, great to chat to you. The Bitcoin Exchange mt. Gox received a subpoena from prosecutors in new york, asked the company to preserve certain documents. Ceo mark capellas issued a statement saying the business is at a turning point. Japanese authorities are looking into the matter but dont have jurisdiction after the mt. Gox website went down. Still to come, the british economy returns to focus as investors await the second meeting of the country answer Fourth Quarter gdp. And the headlines from around the globe, the u. S. Releases a scathing report against Credit Suisse accusing the bank of using elicit taxes to help american citizens dodge taxes. The ceo faces a Senate Hearing today. Positive Earnings Reports out of