Point of its range. Are investors nervous they cant recreate the success of candy crush . President obama criticizes russia as merely a Regional Power. Leaders are in brussels for more talks with the eu. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Warm welcome to todays edition of worldwide exchange. If youre just joining us, welcome to the start of your Global Trading day. We had plenty of movement from the dow boosted by Consumer Confidence. House prices solid. Will it be new home sales down to fivemonth lows. But clearly affected by the weather. Yesterday, dow up 112 points. We are called higher again this morning by around about 33 points above fair value. The nasdaq at the moment, 2 higher yesterday, is currently trading around 9 points above fair value and the s p 500 at the moment is around 3. 5 points above fair value, as well, after being up some is. 4 yesterday. The ftse cnbc global 300 at the moment is up around 0. 25 and just an hour into trade here in europe, weve seen the ftse making moves again. Up 20 points. It was up 84 points during tuesdays trade. The xetra dax is up 0. 75 . 0. 5 for us cac 40 and the ftse mib is up 0. 3 , as well. We continue to look at was going on with the flattening trade. Big moves since janet yellen spoke. Today well be looking at a key fiveyear auction. Tenyear yields at the moment, 2. 74 . Were down to around 2. 73 during the session yesterday. And after big losing on fiveyear yields, they have come down slightly, as well. On the currency markets, dollar yen has been fairley steady. Well hit that 101. 20. Were currently at 102. 29. Euro dollar, just below 1. 38. Yesterday it was suggested there may be a case for negative rates. That would be the best way to deal with a euro in a hypothetical case. Then draghi coming out saying he didnt see any signs of key deflation signals. Thats where we stand right now in europe. Li sixuan has more on what happened in asia today. Thank you for that, ross. Upbeat data on hope more stimulus measure sess helping sentiment in asia. The hong kong index gained 0. 7 today. Medical stocks rallied after premier said china steps up medical reforms this year. But property stocks met the losses today after a threeday rally weighing on the shanghai composite which ended down by a modest 0. 2 . And some other quiet day in japan with the nikkei 225 gaining 0. 4 . Shares moved to a twoweek high up 1. 2 and Australian Shares rebounded about 0. 75 as metal prices were firmer. Lets take a look at earnings in china. Shares of Agricultural Bank of china rose to a twomonth high as investors cheered its net high interest and dethe cline in nonperforming loans. Mengniu darely jumped 8. 6 after a more than expected 0. 25 raise in profits. Daphne international tumbled over 8 after it reported a 66 drop in earnings. That is a look at asian markets. Back to you, ross. Thank you for that, sixuan. Catch you a little later ahead of the u. S. Open coming up later. Some other news were following, Rupert Murdochs sons have been promoted to key positions in 20th century fox. Lachlan has been named as executive of that firm. Neither managed to catch the top job at fox. Peter rice has agreed to extend his employment in the position. Mark zuckerberg, meanwhile, has extended its spending spree. Facebook now stopping up oculus which makes Virtual Reality goggles for 2 billion. The company was created out of a kick starter campaign. Zkerberg says the technology could be the next big social media platform. Facebook isnt interested in becoming a Hardware Company and it could potentially generate revenue on the devices from ads and sales of virtual goods. Mark anderson was talking a lot of about oculus hours before facebook announced the deal. Hes invested in oculus and a facebook board member. Andreesen says he has no part in the deal. Facebook stock in frankfurt, pretty flat. Oculus of course is the latest in a line of acquisitions from the social networking company. Just run this back to you. Facebook snapped up instagram in 2012, what was then an ipo for 1 billion. The real was just last month when facebook spend 19 billion on whats app. And mobile gamemaker kingfisher which created the popular candy crush series is launching its ipo today in new york. Seema mody has this report. Candy crush priced at 22. 50 a share, which is at the mid point of its plan, 21 to 24 range. Sources say that would give king a roughly 70 million market value. Jpmorgan and Bofa Merrill Lynch all acting in this deal. Investors expecting a pretty sweet listing. It has a user base in the u. S. And around the world. The game attracted 97 million daily active users last month. Some of king digitals competitors include zinga, Electronic Arts and changu. King is expected to go public under the Ticker Symbol king. As far as the agenda today on the states, weve got february durable goods out at 8 30 eastern. Big ticket items expected to rise 0. 8 . Just one Earnings Report of note today, Payroll Processing firm paychecks and they come out with their numbers after the closing bell. Russias military has held exercises in a russian speaking region of moldova which borders western ukraine. This comes after russias ship off the crimea peninsula has been seized by the navy. Russian sailors captured the boat last night. Meanwhile, ukraine is set to retape its top spot on the agenda when president obama sits down for more talk wes european leaders in brussels today. Hes already taken a swipe at russia, describing the company as a Regional Power. His aggressive policies towards neighbors was a display of weakness. Annette has moved from the hague to this meeting in brussels. Annette, is anything different going to come out from todays meeting that we saw earlier in the week in the hague . Well, actually, it will probably be even more interesting that in the hague because here, president obama is going to meet the head of the commission and the head of the consulate and the trade commissioner. That is the key figure here. Very high on top on the agenda here in brussels is the revival of a sweet trade agreement between the eu and, of course, the United States. Which actually that bilateral trade is making up almost onethird of global world trade. So its a huge potential area. And if they were to create such an area of free trade that could act as a of gdp growth in europe and almost also to the United States. But there are many obstacles on that road, of course. But they are very eager to discuss that. Its a positive sign from that fallout, actually, with russia that the United States and europe are now getting closer together. That is also shown by the fact that to ask the United States to relax their restriction on exporting gas. Normally under the current gas law, the United States is only allowed to sell or to export their gas to free trade partners, which, of course, the eu isnt yet. But there might be some relaxation on those restrictions. Sceu wants to diversify itself away, of course, from russia. With that, ross, back to you. Annette, thanks for that. Joining me now in the studio, david cohen. Ceo of asset management. David, good to see you. Where might this gobetween russia and the west of ukraine . To answer that question, you have to think about the big picture. The big picture from my work on the book was all about the decline of the west, the inability of america to fund its defense mechanisms, to basically withdraw from the world and create a vacuum. Now, russia itself is not expansive. Its dem graph i li demographic challenged. Putin thinks along the lines of very antiwestern and wishes to reassert influence. The dollar strategy has been particularly weak. Hes failed to completely understand the way someone else thinks and he has his perspective. The power vacuum in syria and now the ukraine has forced the g7, what was the g8, to force russia away from the west. And the biggest risk here is not just about ukraine. I dont believe theres a risk of a wall against russia, but there is a risk that you push this swik statng state, russia, towards china. Thats a completely different magnitude of a problem. As china becomes stronger, it leans on russia for reliance and that changes the way america and the west deal with expansion. In fact, theyre probably chained to the desk. Without any strategic position and the problem with obamas presidency, hes focused on the internal bending of his country. He understood something that actually maintains quiet defense and without effective defense to create opportunity for progressive and expanse to move into that space. David, stay there. Well come back to you in a few minutes. Still to come, dan loeb is suing sothebys to remove a poison pill. Weve got all the details, coming up. Recap of the headlines today, facebook breaks out the wallet with a 2 billion purchase of a Virtual Reality headsetmaker oculus. Management shakeup, Rupert Murdochs sons promoted at news corp. And candy crushmaker king prices its ipo in the mid point range amid fears a followup success could be tricky. Now, 2013 was a record year for hedge funds. Global assets increase by 17 to 2. 6 of trillion dollars. This year, it could be more of a struggle as emerging market volatility make the search for yield ever more elusive. Last night, the investors choice Hedge Fund Awards and ask them about their biggest concerns. Russia is one for sure, which i think is not priced fully into the market. But youre seeing elements develop in asia why and in china in particular with growth slowdown coming from china and response to stimulus, which has been fairley mild so far. And so if china, chinese growth was to slow down, youre starting to hear some elements of default coming through, how that develops, you know, to something that were watching. I think china is the biggest risk in the sense that the acquisition of credit will a few years from approximately 120 of gdp to nearly 200 of gdp is in these three markets and these three of Major Economies in the developments of Major Economies. These two events, the first time is a rise in interest rates, which ive alluded to. And the second one actually is our inflation develops and how that fits into wages. And inflation is the big question for 2014 because it will determine policy. Still with us, here are some of the biggest feares from Hedge Fund Managers last night. Whats your single biggest worry . I think we your microphone has come off. You can clip that bag on. I think its just watching if you look at the world unfolding, there is a mismatch between the way people invest and the price of risk versus the risks that are really out there. And i think being by fed action and fed policies and market manipulations to the point where the reality and the Pricing System is hugely divergent. That usually creates as an investor, the risk of, you know, 2,000 i think increases every month we carry on in this. That doesnt mean we cant carry on in your socalled sleepy state for quite some time. Well, weve water on for quite a long time. The one thing i have noticed is when you get these die vernlg en divergences, it carries on for longer than you think. We need to be consistently aware of that. Okay. Stay there. More to come from you. Bank rocks clo is warning companies not to overdo dividends and buybacks if they come at the expense of future growth. The s p 500 Companies Last week, many firms have come under pressure from analysts and others to boost dividends. And dan lo on ebs first point is to sue sothebys over a poison pill from buying up to 20 of the auction houses stock. He owns 9. 6 of the company. He says the poison pill unfairly targets active investors like himself, but lets passive investors buy a 20 stake. Sothebys adopted the poison pill in october as dan loeb started turning up the heat urging its ceo to be replaced and comparing it to an old master painting in desperate need of restoration. Still to come on the show, Warren Buffett is a ma raej continues regulatory issues and an exchange in bankruptcy. Its been a tough few weeks for bitcoin. After the break, well find out why the additional currencies are fighting back. [ male announcer ] when fixed income experts. Work with equity experts. Who work with regional experts. Who work with Portfolio Management experts, thats when expertise happens. Mfs. Because there is no expertise without collaboration. Now, the irs says its going to try the treat bitcoin as property for u. S. Tax purposes. That means if you acquire bit coins and they go up in value, youre going to have to pay Capital Gains tax. Wages and Virtual Currencies are taxable and therefore are subject to withholding and payroll taxes. Joining us with his thoughts is pet peter. Peter, good to see you. Youve got a platform where you allow people to share, organize and work in teams. Why is it important for you to accept bit coins . Well, its important for us to let our customers tell us how they want to pay for services. And we find bitcoin to be an exceptional way for them to do that. Hence the situation if a customer tells you they want to pay a certain way, whether they want to pay by credit card or cash or whatever mechanism they find to be convenient for them. As a mer chachantmerchant, that we want to support. Do you have any concerns about it . Its important to understand that bitcoin is a protocol and bitcoin, the companies behind bitcoin are two different things. While there have been some stories in the press lately about individual companies having problems, its different than bitcoin as a system, as a platform. So there are concerns, of course, about recent news events that affected individual companies. But as an overall service, the ideas are still sound and theres still a lot of people paying attention to and investing in the protocols. Yeah. Theres a lot to come. Just stay there. David, whats your view on the bitcoin visavis the dollar, which is a reserve currency . I think its timing is fascinating. Whether or not its valid is a process. Its some mechanism to challenge the stad status of the dollar and create a new currently. The new mechanism is sound in the face of something thats slipping and as we talked about, moving into a phase which has two or three systems piling into reserve status. Peter, how much do you think whether the bitcoins can become transactioning in your platform in the future. Well, currently, its a small percentage of our customer base. But we find it to be growing. And the people that are using bitcoin to pay are passionate about it. And so the excitement is still building. I think its still very early and were going to see an increase in bitcoin use over time. And what happens to in the meantime . Well, we accept all different forms of payment. Accepting bitcoin is part of on our payment structure. But as i said, we want to accept payment in any way our customers prefer to pay. Okay. Peter, thanks for that, founder and ceo of glip. David marrin, thank you so much from emerging asset management. Plenty more to come. Is king digital a onehit wonder . Can it crush nay sayers which it makes its debut . Well have your look at the ipo market coming up after this. Ing. [ children yelling ] [ telephone rings ] [ shirley ] edward jones. This is shirley speaking. How may i help you . Oh hey, neill, how are you . How was the trip . [ male announcer ] with nearly 7 million investors. [ shirley ] hes right here. Hold on one sec. [ male announcer ]. Youd expect us to have a highly skilled call center. Kevin, neill holleys on line one. Ok, great. [ male announcer ] and we do. Its how edward jones makes sense of investing. This is worldwide exchange. Im ross westgate. Facebook ramps up the shopping spree. The social networking giant spending 2 billion buying up Virtual Reality headsetmaker ocular. Rupert murdochs skegz Succession Plan moves forward. Sons james and lachland are new promotions at news corp. , but miss out on the top spot at fox. Are investors nervous king wont be able to replicate the success of candy crush . And russia is no super power. President obama criticizes the country as merely a Regional Power that intim dates neighboring countries. This as he touches down in brussels for more talks with the eu. Display youre watching worldwide exchange, bringing you Business News from around the globe. A very good morning to you. Weve seen equities move higher and indicated higher again for the open in the states this morning, as well. The dow up 112 points yesterday, Consumer Confidence up to sixyear highs. We saw house prices, fairley solid gains, although home sales down to fivemonth lows. This morning, the s p 500 is around, what, four or five points above fair value. The nasdaq is some 12 points above fair value. And the dow up 112 points. This morning, futures are indicating weve got to move higher by around 49 points above fair value. As far as european equities are concerned, we have had gains, as well. The ftse is up maybe 4 points from yesterday. Today the ftse cnbc global 300 is up 0. 3 . And the ftse 100 is up 0. 5 . Were now a percent higher for the xetra dax, our best levels of the day so far. The cac 40 is up 0. 8 and the ftse mib is up around 0. 6 . As we look ahead to more numbers out of the states, what are investors to do . This is a recap of some of the thoughts weve already had. The Market Positioning is very short aussie, very bearish on china and australia and as a result, you know, the pain trade is really a continuation higher in the Australian Dollar and in most risky assets for that matter. Well, we observe what makes us worry is that investors se