Shareholders. The network equipmentmaker says its going to hand 3 billion back to investors after a strong First Quarter. Its also unveiled a new ceo. Youre watching worldwide exchange, bringing you Business News from around the globe. And a warm welcome to todays edition of worldwide exchange. Well kick off with more earnings and the oil sector as wel well. Bp upped its dividend for the first time in six months despite the impact of the crisis in ukraine and on its business. The results come less than a day after the ceo of bps russian partn partner, rosneft was issued sanctions. Sales to europe were up 15 last year. Russias top natural gas producer says any expansion of western Bank Sanctions could lead to adverse consequences and shares in the company. The kremlin meanwhile denounced a decision by the eu and u. S. To ramp up sanctions. Seven individuals targeted by the white house. 17 companies have also been hit. And within the last hour, the eu has followed the states and expanded its black list of sanctions against highprofile russians. The eu is also targeting the deputy Prime Minister. William hague said the western had no option than to introduce these wider sanctions. Increasing the scope of the sanctions placed on russia is the right response for the failure to implement the geneva agreement. In the last two hours, the United States has announced it is imposing sanctions on seven further russian government officials, including two members of president putins inner circle. Sanctions on 17 companies also linked to putins inner circle and additional restrictions on 13 of those companies. Joining us with their thoughts, joseph dire, and lankton. Welcome to you both. This latest ramp up of sanctions. From the European Union its a token gesture from the European Union. As weve seen, the lead is coming from the use. Its much more easier for the americans to lay out tougher sanctions because of their exposure and their energy standpoint to russia is meaningless. What about the u. S. . I think the market said its word yesterday. Since the moment the sanctions were announced, russian index rallied 5 . So the investors deaf nuttily shrugged this off. They feared worse . The concerns were theres stage two and three sanctions that the americans and europeans were very clear on. Were still in stage two. Stage three will be kicked off if Russian Troops enter ukraine. There are a few names being circulated. That did not materialize. That was mostly what fueled the rally. We heard bps comments about rosneft. How problematic will it get for bp and shell . Bp needs russia very badly. It has 30 of its production is derived from russia. A huge proportion of its reserves are derived from russia. You have other companies with longterm projects based in russia. Those companies will dread the day if we go beyond stage two sanctions and we ever get to stage three or four or whatever goes beyond that, which would actually physically affect Energy Operations or investments. If that were to happen, those companies would be very, very badly hit indeed. Even worse than that, if we were to reach that stage, inevitably, oils gas prices would rise and probably quite sharply. The western governments w s wou not want that to happen. Higher Energy Prices would damage Economic Growth very badly. Lets get your view on this. There are always dangers of missteps in a sort of political fallout or cold war, whatever you want to phrase this. And how wide do you think the risk of deeper sanctions are . Well, i think the west is extremely reluctant to impose sanctions which have real meaning. The kinds of sanctions you were talking about in your introduction on named individuals on unsung companies essentially means they cant come to london and couldnt their money so easily. Its not really affecting the real economy if you like. I dont think theres a great danger that those sanctions will be imposed unless there were a Major Political escalation. To try and think of what that might be, say the russians just invaded ukraine. I dont think thats in russias interest. You talked about the falling ruble earlier on. The falling ruble will damage the russian economy. The russian economy is overwhelmingly dependent on their energy export. I dont think the russians want to hurt themselves. The value of the ruble significant, fall in the value of the ruble probably will be significant. But do you think there will be a damage on longterm Foreign Investment . Is that where wed like to see the biggest impact . Russia has been lagging on the Foreign Investment side. Russia has been lagging. But to put the ruble selloff into context, its been stabilizing. Since the beginning of the year, the ruble has been depreciated by 9 , 10 . Since the central bank got into phase and started action with increasing rates continuing its support of the currency within the the ruble has stabilized and its stronger than it was throughout the crimea annexation process. Lets put this into context. A weaker ruble to a certain extent is positive for the russian economy. Russia has been facing some deflation issues. Thats a negative. As an export commodity, a weaker ruble is positive for the current profile of russia. Depending on your view of how this plays out, if you assume at some point well get through all this, russian assets are looking cheaper, of course. But at the moment for investors this is an unwelcome situation. We need more clarity. I think we are seeing some russia investors kind of coming in and buying very depressed valuations at the moment. Both on the equity side and the credit. If you look at a company like novatech, wonderful company, very profitable, good series of catalysts coming up for that company. Investors are coming in and buying it. But may will be a crowded period of time in terms of headline risks. Well get may victory day on the 9th of month, potentially local referendums at the end of next week. And on the 25th of may, the president ial election. Its going to be very difficult to convince investors to buy that russia at this point. Just a final word, just go back to sort of bp specifically, trading higher, First Quarter profits above forecasts, upping their dividend, too. How far are we beyond from the gulf of mexico as well . Thats been key. Bp is still deeply mired in the fallout from the gulf of mexico. We still dont have any indication of what the final bill is going to be for the spill. And so far, bps managed to sell 40 billion worth of assets. Its got another 10 billion to 15 billion worth of assets on the block to try and raise money. Bp is a longterm play is a very, very difficult stock to call, simply because this massive elephant in the room of what the final gulf of mexico spill bill will be, you cannot take a longterm view on bp until that has been quantified. Were no nearer quantiification of that. Bp versus various levels of the court system. There doesnt seem to be any end in site to the litigation. As long as that is the case, bp is always going to be, if you like, operating with a hand tied behind its back. Good to see you. Thanks very much. Thank you both. Global equities, just over an hour and ten minutes into the trading day in europe. We waited to the upside round, 81 advancers outpacing decliners, helped along by the focus on earnings. Besides bp, infinium, deutsch, well ebe talking about deutsch. Xetra dax up yesterday 0. 5 . The cac current is fairly flight and the micex is up 1 . Nokia, up 6. 7 . Its unveiled plans of more than 3 billion in buy backs and extra dividends, this despite a slip in the First Quarter revenue. Shares in Shire Pharmaceutical up 3 . The botoxmaker is preparing a fresh takeover approach for the british drugmaker. One of the fallers, abb, down 6 . The pound and Technology Reporting an 18 slump in its First Quarter profit. Results come as the swiss firm continues to sell off parts of the business that arent vital to its activities. Check in on where we stand with bond rates today. Tenyear treasury yields, 10. 7 , looking ahead to the fed meeting, of course, we dont expect a change. The real Success Story of the fed is to think its actually something of a nonevent, we expect another tapering of 10 billion of quantitative easing and for that to wrap up by october. Gilt yields, q1 gdp coming out in the uk in round about 20 minutes or so. Sterling ahead of that, up 4 1 2 year highs against the dollar. Well show you where we stand at 1. 6835 at the moment. Aussie dollar, pretty steady. Dollar yen, slightly up on the session. We keep our eyes on euro dollar, 1. 3857. German Consumer Confidence today according to gfk up near a sevenyear high. Thats where we stand right now in european trading. Lets recap that asian session. Sri is with us out of singapore. I had, hi, sri. Ive got to say this, youre talking about botox, thats something you and i will never need with our chiselled futures. The stx under pressure, one of the lost leaders, down by 50 points. Remember iron ore prices have been under pressure. Theres a probe going on into iron ore financing. Thats hitting sentiment amongst the resources names and by implication in the Broader Market as well. The gainers, the shanghai and the hang seng, up by 1. 5 . Yes, the japanese market is closed today because of public holiday. Liquidity, trading volumes that much more feeling that the ground may be leading to outsized moves on the other marks. The earnings season has been quite favorable so far. Especially for some of the insurers names and the banks. Thats lifting the broader index or the hang seng. Also on the mainland as well. Not much else really to talk about. Theres bifurcation. Thursday will be quite important. Thats when we get the april official pmi from china. Markets arguably are going to be something in a Holding Pattern until then. Tomorrow, getting back to japan, the markets will be reopening and also we have the bank of japan policy meeting, the policy review. No surprises there although they will be releasing their economic projections. That should be something of an asset test for abonomics. I dont know what botox is. I dont know what that would be used for. From sri jegarajah, thank you. Deutsche bank has been telling investors its focusing on strengthening its capital base. More on the details for us. Whats the reaction from investors, annette toa . Shares are up by 2 . That was widely expected. The numbers were better than expected, the margin so important, trading within Investment Banking came in more than expected. Also better than a lot of their competitors. Deutsche bank wants to be one of the top three investment banks also in the United States. Theres a huge competition there. So in general, what theyre saying about 2014, though, still sounds a little bit lackluster in terms of litigation costs. The cfo during a Conference Call was saying hes expecting significant litigation charges in the coming quarters and also that the upcoming stress test, a big unknown in terms of capital costs. So it sounds clearly as if Deutsche Bank was preparing investors also that we might actually see more capital hikes during the course of this year. For now they have refraened from it. There was a lot of speculation from Deutsche Bank, that they might also say theyre raising capital as soon as today. What they were saying late yesterday is that theyre planning on selling cocoa bonds in the volume of 1. 5 billion euro as soon as may. Thats not the big capital hike people were expecting it to announce. Were seeing here the leverage ratio of Deutsche Bank which is clearly one of the biggest leverage ratios around, among big investment banks. But what has to be very careful if we are comparing u. S. Banks with european banks, because u. S. Banks have a smaller Balance Sheet because they are netting the derivative exposure. But nevertheless, capital will be one of the big concerns also in 2014 for the banks. The one tier capital ratio fell from 9. 5 to 9. 7 . That shows Deutsche Bank has one of the lowest capital ratios among its peers. That is why investors are pressuring the bank once again. And, again, to bolster its capital. For now theyre saying theyve readied all option to go down that path for now. They dont it the see the necessity. With that, ross, back to you. Thank you for now. More on Deutsche Bank later in the show. Cfo compensation at the european banks was up an average of 16 in 2013. Stewart gulliver had a net income of more than 16 million, this according to data compiled exclusively for cnbc. When the bank does well, the ceos will obviously be able to reap rewards. What has changed in the pay packages over the last five years, theyve been struck suhred so its no the just a one year and done pay package. It relies on that being validated over several years. The executives will see the increases and wont be able to get the final payout for the equity awards for several years. Its going to have to be creating shareholder value and not a oneyear blip. The Eu Banking Authority set to outline the details of its coordinated stress program today. Weve been speaking to the chairman of the citi uk advisory channel. He was asked whether European Regulation risks are stifling londons industry. These things ought to be face down or we have a say into how theyre going to be adopted while were still in the eu. One of the problems we see if youre outside, you wont have in fact a seat at the table and, therefore, you wont be able to influence eu regulation which will be harmful in itself, not just for london but europe as a whole in competitive terms. We dont want caps on salaries, do we . The instinct seems to be to continue bashing bankers and doing that punitively through salary caps. Thats not the right way to make this the preeminent areas of the world. You dont have the same ability to claw back and you saddle yourself with fixed overheads with salary caps. Im against salary caps. Im certainly in favor of moderation of bankers pay. Salary caps by themselves wont do it. When were hoping that the banking industry, the financial sector, will lead us to better growth and higher Economic Performance in europe here but we have the stress tests to get through, we also have potentially some recapitalization of major european banks at this stage. Can i ask you, is it important we see failures in the stress test for them to be credible . And secondly, do you think its important that that recapitalization take place very quickly . I think the recapitalization for the credibility of the Banking Sector taking quickly is very important. I think failures i dont know, some banks have, of course, anticipated failures and, therefore, have one ive seen already is italy very responsibly capital has been raised. Has the capital been raised because banking management felt it was the right thing to do or because they feared that if they didnt raise it that there might be stress tests which might go adversely against them . I didnt know. I suspect there will be fewer failures that we might think. But partly one will have been if one looks at it. Kuwait a lot of capital will have been raised this year. I suspect there will be some failure. Still to come on todays show, is britain on the recovery . How strong and sustainable is it . We bring you the first estimate of q1 gdp. And millions of extra dollars are poured into a new resort in shanghai. And have you ever wanted to go inhood the scenes an see how major internet players really work . Amazon has opened up some of its warehouses to allaccess tours. [paintball noises] the annual company retreat. Planned, as usual, by this guy. Nature lover. People person. And you put up with it all. Because he also booked you a room. At this place. Planet earths number one accomodation site booking. Com booking. Yeah youre watching worldwide exchange. Now, reports suggest siem s siemens what do we think the terms of their offer might be . It depends what theyre offering in terms of job protection in france. Really this is the Main Objective of the french government, the economy minister started a meeting nearly one hour ago with the unions of alstom. They are widely explain that job protection is to keep job security. Francois hollande says the government would focus on the job protection, the maintenance of operations in france and obviously the French Energy independence. Now, in practical terms, its not going to be that simple for the government to have its say, first of all because the french state is not a shareholder anymore of alstom since 2006. Secondly, even if there is a lull in france, energy sector, Nuclear Power production is not part of this strategic list. Last but not least, there is a risk that a potential seem with seimens will be blocked by antitrust authorities because there will be a significant lap between alstom and seimens. This is what was explained to us yesterday from paris. We are expecting an offer from seimens. And alstom is expected to make an announcement if Francois Hollande and the whole government is ut ing pressure on alstom about a decision, not to make it. They will announce another delay, to inspect the offers, one were expecting from General Electric and one from seimens. The second stage has been launched. Carmakers given investors 7 new shares for each 12 held. T you can see where all the magic happens, not at disney but not at amazon. The online retailer will open sim of its warehouses for public tours. It starts next month. The tours will be held on the first and third tuesday of each month and can be booke