trump expected around six o'clock. tesco, the uk's largest retailer, has agreed to buy britain's largest food wholesaler — booker — in a deal worth £3] billion. it would mean tesco gaining a massive share in supplying restaurants, pubs, and convenience stores in the uk. news of the deal sent shares soaring in both companies. here's our business correspondent emma simpson. tesco already has the lions share of the uk's grocery business. now it has its sights on serving even more customers. it has struck a deal to buy booker. you may not have heard of it but this wholesaler supplies thousands of pubs, restaurants, caterers and corner shops. this market is growing faster than selling groceries in the supermarkets, and tesco wants a slice of it. what we do see... the two company bosses side—by—side for a web cast this morning to explain why this surprise £3] billion deal makes sense. the ability to improve the core offer of both the retail operation but also the independent and small business operation that charles currently serves, is definitely going to drive growth. better range,

victims. the truck was said to have serious faults that were obvious to anyone. tesco's shares rise sharply after it says it's buying the food wholesaler booker, including its chains of convenience stores. and on newsnight, as theresa may becomes the first foreign leader to meet donald trump at the white house we ask what she is risking and what his most hoping for. —— what she is most hoping for. good evening and welcome to bbc news. donald trump and theresa may have hailed a new era of relations between america and britain — after meeting for the first time at the white house. it's the first face—to—face talks president trump has held with any foreign leader since taking power. donald trump said they'd agreed to strengthen their ties in commerce and foreign affairs. the prime minister said they both reaffirmed their commitment to nato and working to defeating the islamic state group. it was also announced that donald trump has accepted an invitation from the queen to make a state visit to britain later this year. the president once again welcomed britain's decision to le

, the country with very different back there. tesco says the john with very different back there. tesco says thejohn the band... lloyd jones, you have got your pyjamas on, i know that you sneak down... —— tesco says that pyjamas may be banned. i only wish they did not take the photograph they have of me... laughter iam me... laughter i am convinced in my indecision, at one level, they are trying to say, there is a standard here, whatever that standard may be, or the benefit of everyone, not just tesco, that standard may be, or the benefit of everyone, notjust tesco, there area of everyone, notjust tesco, there are a few standards, we... we do not wa nt are a few standards, we... we do not want to see digby wandering around in his onesie... want to see digby wandering around in his onesie. .. that is a site! the problem is, we do live in a free world, and as long as... within the bounds of decency. if you want to wear your onesie ads tesco at three in the morning, why not! it is not the kind of thing that i would do, andl the kind of thing that i would do, and i have never seen peopl

biggest supermarket tesco is to buy the leading wholesaler booker, for £3] billion. time to catch up with the sport at the bbc sports centre with lizzie greenwood—hughes. thank you, simon. good afternoon. there's a dream line—up for nostalgic tennis fans in the australian open men's final. rafael nadal will play his old rival roger federer in melbourne on sunday after nadal fought off grigor dmitrov in an epic semi today to reach his first grand slam final in nearly three years. drew savage reports. 1a grand slam titles to his name, but nothing since the french open back in 2014. with roger federer waiting in the final, nadal and his many fans were hoping he could turn back the clock. no problems in the first set. nadal winning that 6—3, but the bulgarian was aiming to reach his first ever grand slam final at the age of 25, and he was only getting going. winning a marathon second set. this was turning into a classic. you could hardly separate the two players. nadal showed why he has only lost three semifinals out of 23, edging the first set on a tie—break. the scene was set for th

for manslaughter after a tipper—truck killed four people, including a four—year—old girl. tesco's share price rises sharply after the supermarket chain says it's buying the food wholesaler booker, including its chains of convenience stores. one of tennis‘s greatest rivalries is back on when rafael nadal reached his first grand slam final in three yea rs. his first grand slam final in three years. he won an epic semifinal in melbourne today to face roger federerfor melbourne today to face roger federer for the title on sunday. david weir claims he was called a disgrace to his country by the british athletics wheelchair racing coach at the olympics after he failed to win a medal last summer. he confirmed that he will never race for his country again. manor formula 1 team has faltered after administrators did not manage to find a buyer. they have been administration since the first week of january. i will have more sport for you just after half past. the royal college of surgeons says plans to cut knee and hip replacement operations in worcestershire are "alarming". three commissio

deportation from the uk. camera offered at nadal wind? roger federer rates the winner? tesco, the uk's largest retailer, has agreed to buy britain's largest food wholesaler — booker — in a deal worth £3.7 billion. it would mean tesco gaining a massive share in supplying restaurants, pubs, and convenience stores in the uk. news of the deal sent shares soaring in both companies. here's our business correspondent emma simpson. tesco already had is the lions share of the uk's grocery business. now it has its sights on serving even more customers. it has struck a deal to buy book. you may not have heard of it but this wholesaler supplies thousands of pubs, restaurants, caterers and corner shops. this market is growing faster than selling groceries in the supermarkets, and tesco wants a slice of it. what we do see... the two co m pa ny slice of it. what we do see... the two company bosses side—by—side for a web cast this morning to explain why this surprise £3.7 billion deal makes sense. the ability to improve the core offer of both the retail operation but also the independent and

or only in moderate pain. the uk's biggest retailer, tesco, is to buy the uk's biggest food wholesaler. relax, i've got you, i promise. and after the oscars were criticised for being too white, could this film be about to break the mould? and coming up in sportsday on bbc news: arsene wenger is given a four—match touchline ban for his altercation with a premier league official against burnley last sunday. good evening. donald trump and theresa may have hailed a new era of relations between america and britain, after meeting at the white house. it's president trump's first talks there with any foreign leader since taking power. the prime minister told a news conference mr trump had given what she called his "100%" backing to nato, despite his recent comments that it's obsolete. she confirmed that the queen has invited president trump to make a state visit to britain this year, and that he has accepted. there was also talk of a future trade deal, but no detail. laura kuenssberg reports. everyone is paying attention. our prime minister, the first foreign leader to make their

washed upona and in a minute, the turtle washed up on a beach in wales. in the business news... tesco, the uk's biggest supermarket has negotiated a £3.7 billion pound deal to buy booker group, the uk‘s biggest food wholesaler. the uk's biggest food wholesaler. they supply everything from baked beans to teabags to 700,000 convenience stores, grocers, pubs and restaurants throughout the uk. more on this injust a moment. german prosecutors have said they believe the former volkswagen chief executive, martin winterkorn, knew of emissions cheating software earlier than he claims. prosecutors near vw‘s wolfsburg base said 28 homes and offices were also searched this week in connection with an investigation into the carmakers. quarterly profits at bt have dived 37% after the firm reported an accounting scandal in its italian division that cost it more than £500m. it has now confirmed that their, head of continental europe, it has now confirmed that their head of continental europe will step down over the affair. now, more on that tesco deal. the supermarket is buying grocery supplier

tasty deal. tesco and booker surge to the stop of the stoxx 600 after the uk's largest supermarket agrees to buy the food wholesale group for 3.7 billion pounds. >>> ubs shares fall after it suffers significant outflows in its wealth management business but the bank's ceo, sergio ermotti tells cnbc he sees improved client confidence. >> we are realistic because we have data points pointing at clients and investors being more optimists and ready to be constructive about the situation. they are really looking for concrete actions by the new administration in the u.s. >>> bt's head of continental europe steps down amid via italian accounting scandal but the company's ceo says the situation is under control. >>> time to raise a glass as lvmh posts record full-year profit and sales lifting the stock towards all-time highs spurring gains throughout the sector. >>> good morning. welcome to "street signs" on the last trading day of the week. enough earnings optimism this morning but that's not enough to lift the overall stoxx 600. we are looking at a bit of weakness across the overall heat

-- than the numbers. tesco could have a positive get-go. london, looking ok this morning. this is bloomberg. ♪ guy: morning. welcome. i'm guy johnson. today in washington, d.c., alongside matt miller, we are moments away from the start of european trading. matt has your morning brief. matt: it is a mexican standoff. the u.s. edges towards a trading war with its southern neighbors as trump floats the idea of a 20% tax on all imports out of mexico. becomee war of words protectionist policy? and, trump card. will.k. prime minister meet with the president at the white house today. can may take advantage of the situation with mexico as she looks for leveraging her trade talks. plus a big beat for ubs. profit more than tripled in the fourth quarter at the swiss bank as investor confidence comes back. will the market concentrate on outflows as the wealth management unit? the market opens imminently. guy: here comes the market open. maybe not the fireworks that we've seen in equity markets of late. maybe a slightly more steady-state. as you can see, we have the ftse 100 trading positive

business stories of the week from our business editor, simonjack. tesco has agreed to buy uk's biggest food wholesaler, booker group, in a £3.7 billion deal. the companies said the deal would create the "uk's leading food business". the joint announcement also said the deal would bring benefits for "consumers, independent retailers, caterers, small businesses, suppliers, and colleagues, as well as delivering significant value to shareholders". our business correspondent, theo leggett, joins us from our business unit. this is really a boost for consumers? isn't this just tesco, which is a whopper as it is, just getting bigger? certainly, there may be concerns that tesco is gaining an even bigger slice of the uk food market than it already controls, and some analysts are saying that competition regulators may want to look into it carefully. tesco says, we're not buying any more big stores, so there is no reason for competition regulators to get involved, but that is a discussion for the future. tesco says it is looking to broaden its business, so the supermarket business itself,

. britain's biggest supermarket tesco is to buy the leading wholesaler booker, for £3] billion. plans to restrict hip and knee replacements in england in order to save money have been described as "alarming" by the royal college of surgeons. and stories, but first... —— we will speak more about those stories. time to catch up with the sport at the bbc sports centre with lizzie greenwood—hughes. rafa nadal has reached his first grand slam final in nearly three years — he'll face roger federer for the australian open title on sunday after beating grigor dimitrov in an epic five—set semi—final in melbourne, as drew savage reports. 1a grand slam titles to his name, but nothing since the french open back in 2014. nadal and many fans also hoping he could turn back the clock. no problems in the first set. 6—3, but the bulgarian was aiming to reach his first ever grand slam final at the age of 25, and he was only getting going. winning a marathon second set. this was turning into a classic. you could hardly separate the two players. nadal showed why he has only lost three semifinal

pym, bbc news. tesco, the uk's biggest supermarket, has agreed to buy the country's biggest food wholesaler, the booker group, in a deal worth nearly £4 billion. booker supplies everything from baked beans to teabags to 700,000 corner shops, grocers, pubs and restaurants. the two firms said the deal would create the uk's leading food business, but it may need approval from the competition authority. emma simpson has more. tesco already has the lion's share of what we spend on the supermarket aisles. but what we put in our trolleys is only half of the food we consume. here is the other half. from eating out to food on the go. this fast—growing market is what tesco wants a slice of. it has struck a deal to purchase booker. this wholesaler supplies thousands of pubs, restaurants, caterers and corner shops. tesco says joining forces makes sense. the uk population is passionate about food and is changing the way that it wants to consume food — at home, on the go, it wants delivery, it wants a greater service. the combination of our two businesses allows us to serve those customer

last year is taken back by the government. tesco reaches an agreement to buy the whole siler booker in a deal worth £3] billion. it says it will create the uk's leading food business. and this is a rare tropical turtle who has washed up rare tropical turtle who has washed up on rare tropical turtle who has washed upona rare tropical turtle who has washed up on a beach in wales. good morning, it is friday, january 27. theresa may is to become the first world leader to meet donald trump since he became us president. she told senior republicans last night of the importance of the special relationship between the two countries. it is thought the prime minister will meet the president in the oval office and they will spend around an hour together in a private meeting. both leaders will then give their first news conference together at around 6pm uk time. post brexit trade opportunities, security and intelligence cooperation are likely to feature, as well as the future of nato, in those talks. this report is from our washington converse correspondent. she arrived on a blustery winter's e

alliance tesco has agreed to purchase booker, a food wholesaler. the two firms will create the leading food business in the uk but it may need approvalfrom the business in the uk but it may need approval from the competition authority. emma simpson has more. tesco already has the lion's share of what we spend on the supermarket aisles. but what we put in our trolleys is only half of the food we consume. here is the other half. from eating out to food on the go. this fast—growing market is what tesco wants a slice of. it has struck a deal to purchase booker. this wholesaler supplies thousands of pubs, restaurants, caterers and corner shops. tesco says joining forces makes sense. the uk population is passionate about food and is changing the way that it wants to consume food — at home, on the go, it wants delivery, it wants a greater service. the combination of our two businesses allows us to serve those customers better than we do individually on our own. tesco is already big. with this deal, it will become an even more powerfulforce in the food industry, and that might not be to ev

now. we've had more news out big retailers like tesco and marks and today. we've got gold advancing, or oil retreating. that's what's happening in general. a sentiment change on markets, it's all been about games going up and up. we'll talk some more in a moment about that. and michelle fleury has the details about what's ahead on wall street today. the trump rally has pushed stocks to new highs. how enduring is it? we may soon find out. financial companies had been among the big beneficiaries. several of them turning their profit figures on friday. other companies are reporting ahead of that including delta airlines ‘s, scheduled to report its fourth—quarter results before the market open this thursday. wall street investors are looking for higher revenues but also higher costs, a trend that has been seen across higher costs, a trend that has been seen across the industry. meanwhile several federal reserve officials are also speaking this thursday, starting with janet gillen. she is talking to educators from across the country. several of the regional fed presidents will also b

in focus. tesco numbers look good. we will see how that plays. mns has eaten on clothing and food. we anticipated the numbers would be good. and aptos doing well with its numbers. the consumer can tune used to spend money. -- continues to spend money. matt: we have richmond to watch. the watchmaker seems undeterred by the release of another piece of competition risk, jewelry from apple. they are selling more of their cartier necklaces and watches. and watch sales in general have boosted sales better than had been expected. we're watching volkswagen. to a charge and caseguilty in the criminal cheating the california emissions florida. on the other hand, maybe less important for investors but more important for more -- for the sod at of volkswagen, the u.s. department of justice has indicted five more volkswagen workers even -- either current or x workers. the company will not tell us if they are still working but they are here in germany. they will be tough to exit -- expedite. the individuals could continue to get prosecuted even as volkswagen the company admits guilt and pays the fin

updates from tesco, marks & spencer, john lewis, waitrose, asos, companies telling us how christmas was for them, and we have had an indication from some retailers, with morrison is this week, yesterday sainsbury‘s, and it isafamiliar week, yesterday sainsbury‘s, and it is a familiar story with the findings that shop sales haven't done so well and online has done well. food sales, this year has been a christmas of food sales, not things like clothing with suggestions we all went and decided that this year we were going to have a good christmas as far as food was concerned but maybe we were shopping around elsewhere when it came to things like clothing. and while i am here, we should point out yesterday the london market, the ftse 100, the the london market, the ftse100, the 100 leading firms, that hit a record high, 7290 was the index, that is the 10th day of rises for the london market, so some suggestions it is because the pound is so weak, but nonetheless business is feeling quite confident at the moment. we will find out how the high—street names have gone from seven o'clo

to pay for accounting? you will talk about that later on. another story. tesco. a merger. this was a surprise. they have an appearance to merge with a food wholesaler. smaller shops... it is like a cash and carry kind of place. tesco is thinking of merging that part of the business. it is a far bigger business. it is a far bigger business than booker is in the uk. tesco would still be the dominant force, you would have thought. interesting to see the changes in the retail sector, especially with food. prices going up, they think that could help them. ok. both of those stories coming in the last few minutes. we will check out some of those details and come back to you. the rspb says the current cold weather appears to be bringing unusual migrant birds to britain, such as waxwings. the charity is holding its annual bird count this weekend, when more than half a million people are expected to take part in what's claimed to be the world's largest wildlife survey. does that mean they actuallyjust count all of the birds? people are asked to take pictures and they put everything together.

tesco have reported strong christmas trading with sales up strong christmas trading with sales up compared to last year. and in sport, tributes are being paid to the former england manager graham taylor. alan shearer who made his debut under taylor said he was com pletely his debut under taylor said he was completely shocked, calling him a man he held in highest regard. dimitri payet has told slaven bilic he wants to lead —— leave the club. bilic insists he will not leave the club. and johanna konta looks to be replicating the form that took her to the semifinals of the australian open last year. she reached the final of the sydney open. i will be back with all of those stories at around half past. we continue with our main story, the death of graham taylor, with many paying tribute to the former england manager who has died at the age of 72. one man who knew him well was luther blissett. you were managed by him at watford. but what that experience like? what did he do for you? and my first meeting with graham taylor, i have said it once or twice before, it was when he first a

. more festive cheer for the high street as marks and spencer, debenhams and tesco report better than expected figures in the run up to christmas. dozens of flights are cancelled at heathrow as heavy snow starts to sweep across parts of the uk. creating a tidal lagoon in swansea bay — the government backs the idea to boost the uk‘s energy supplies. and coming out of retirement — the 72—year—old former rally driver who's returning to racing. and coming up in the sport on bbc news: high hopes for british number one johanna konta, who warms up for the first tennis major of the year — the australia open — by reaching the final of the sydney international. good afternoon and welcome to the bbc news at one. the us director of national intelligence has rejected suggestions made by donald trump that official agencies may have leaked unconfirmed claims that russia had compromising material on him. in a statement, james clapper said he had called the president—elect to say the leak had not come from the intelligence services. this morning, that was flatly denied by the pres

were down 30% to 50% over that period. at the rising rate environment is boosting all shifts. tesco-booker -- a deal that but -- caught many by surprise. and analysts said it is a game-changing deal. it came completely from left field. andrea will tell us more. love this chart -- love divergence. equity volatility is low. investors are preparing for more turmoil ahead as european elections come to the four. the white line, three months. blue line, looks at euro volatility. futures betting on swings in the euro stocks. trade at a record high relative -month contract. equities are carrying the highest risk premium across asset classes. v i brought that up today in otc, i know i would win, but me and you are judging. vonnie: it is friday. we get to judge together. teamwork. i am looking for a dollar index, which you would not know but is headed for its weekly decline. you can see the 10-year yield is the to 2.50%, back below 2.52 cents mark. the russian ruble -- 5.2% mark. the russian ruble is lower. not know what the russian bank will think about that. the mexican peso above 21. more

the u.k. retailers including tesco, marks & spencer's, and a sows. have they felt the pinch from pound?ding ♪ it is lumbar daybreak europe. the flagship morning show right here in the city of london. i am manus cranny. anna: breaking news coming in from various corporate surround the u.k.. in particular this time of day. tesco and that's coming in at one point 7%. not fine pass the estimates as some in the retail space have. we have more sends and -- morrison us. few moreng us a details on the group comparable sales coming in at 1.5%. beenis a is this that has trying to turn itself around since it prevailed a few years ago. we do have some exposure to the clothing lines that have been out of fashion in recent years but less so than some of the pure clothing retailers. deflation was a theme yesterday. it was uncertain how much that tond or the pound is going impact them and whether deflation -- where the deflation story goes. we are seeing some of these big retailers fighting back again. the discounters have had a fairly decent christmas. sales upcomparable 0.7%. the estimate wa

lewis and tesco report a rise in sales over the christmas period. plans to construct the uk's first tidal lagoon off swansea to generate hydro—electric power moves a step closer. also... as temperatures are set to dip, the met office issues yellow be aware warnings for much of the country. in scotland, the wintry weather conditions have already hit but he threw dozens of flights are cancelled ahead of the expected snowfall. —— at heathrow. and as new figures reveal the scale of the pressure on the nhs — we ask whether people would be prepared to pay more for a better service. hello, good morning. iam annita mcveigh and welcome to bbc newsroom live. the us director of national intelligence has rejected suggestions made by donald trump that official agencies leaked claims russia had compromising material on him. in a statement, james clapper said he had called the president—elect to say the information had not come from the us security services. meanwhile the bbc understands the ex—mi6 officer — who is believed to have prepared the memo containing the unsubstantiated cla

sales growth in clothing and home wear in two years. >>> a different picture for tesco. shares dipping after sales growth of 0.7% fail so impress investors. and clack action. shares of novo nordisk sink after a u.s. law firm files suit against the danish drugmaker over allegations of concealing pricing pressures in its earnings release. good morning. welcome to "street signs." we want to kick off with breaking data out of germany for the full 2016 gdp data. we are looking at an increase of gdp of 1.9% year on year. some forecasts were looking for something as high as 2%. looking at the components breaking down the picture, private consumption higher by 2%. government spending by 4.2%. now, looking at the household consumption, that was also 2% higher on the year. this follows disappointing retail data we had out a while ago from germany. overall the gdp figure is higher by 1.9%. that compares to a forecast coming from reuters for 1.8%. when you look at the comparison, this figure slightly ahead of expectations. >>> let's talk a bit also about oil. we have some flashes coming through on

rate in finland is just over 8%. >>> and britain's largest supermarket chain tesco is now charging the same price for men's and women's razors. tesco had been charging twice as much for the female version. that is because they said the men's razors were sold with greater volume. today, they lowers the price of the female model to $1.25 for a five-pack. last year, a newspaper investigation found that women were charged about 37% more for clothes and other goods in the uk. anne-marie. >> it's amazing how much it costs to turn something pink instead of blue. >> yeah, not fair. >> yeah, right. jill wagner at the new york stock exchange. thanks a lot, jill. >>> still ahead, a last-second thriller. the trojans fight until the very end against penn state for the rose bowl championship. end against penn state for the rose bowl championship. ok can we... sfx: (balloon squeals) i'm being so serious right now... i really want to know how your coffee is. it's... sfx: (balloon squeals) hahahaha, i had a 2nd balloon goodbye! oof, that milk in your coffee was messing with you, wasn't it? yeah. happen

was plenty of festive cheer for some of britain's biggest retailers at christmas. m&s, tesco and john lewis and debenhams all announced positive financial figures today. here's our business correspondent emma simpson. we did spend, this christmas. a bit more than last year. food did particularly well. tesco's sales were up today and other supermarkets have also had a good season. but fashion is more of a mixed bag. next had a poor christmas. the big surprises? marks & spencer. with the help of mrs claus, clothing sales grew for the first time in two years, up by more than 2%. a real present. it's brought down clothing prices. it has also focused on getting the price right the first time, so when you buy something, there's less risk of the price being reduced in a couple of weeks. on the whole, christmas turned out ok. but retailers are much more worried about what lies ahead. john lewis had a decent christmas. a0% of its sales were via the internet. with shopping habits changing fast, it says it needs to invest more online and prepare for the impact of a weaker pound. there are p

japan. where we are on others. , tormation on tesco purchase about 3.7 billion pounds. this is going to be offered at 0.861 new tesco chip -- shares. stock cashy much a element. buying that other retailing business of a much smaller variety in the u.k.. the deal is expected, the merger will be beneficial to metrics. it will provide a mix and match facility. more details coming out about booker this morning and tesco's purchase of it. once get the first word news. juliette: thank you. pushedxican relations closer to a trade war. tripresident scrapped his to washington after donald trump --bled down to read right rewrite nafta. the trump administration retaliated to the cancellation by floating the idea of imposing a 20% chance of all mexican imports. ubs profit tripled in the fourth rally infter a equities boosted the unit and wealth management. bloomberg's manus cranny spoke to the ceo. >> the most important thing for me is to see our clients are optimistic. there is a little bit of positive momentum, particularly with u.s. investors. turningthis could be a point, but it is important

stable. we are watching some individual stock stories. morrison, tesco -- will bid this morning. another is trading to the downside but it is a very expensive stock. matt: i am looking at which stocks are moving up and down with the mmr screen. , we seemook at mmr moves in terms of percentage and not in terms of what they are adding or taking from the stoxx 600. morrison is up at the top. even though the british love their supermarkets so much, i have to point out that it is worth less than $6 billion in market cap. it is still not a massive stock tesco, also gaining today. also worth 17 billion pounds. i was surprised that the morrison cap climbed over spencer. withhose of us obsessed grocers, today is an exciting day. guy: i will quote you napoleon. he was not wrong. we are becoming a nation of shoppers and not shopkeepers. matt: i see, shopkeepers. that is where the obsession comes from. i want to turn to my wcrs screen. dollars left over from my life in the u.s. and i want to point out that emerging-market currencies in the last six months, the mexican peso is the second wor

incredibly well, but the next effect into primark it is clear to see. tesco, big closing retailer as well, they dragged down by 1.36%. retail sector being affected by the next numbers this morning, rippling across the entire market. interestingly enough, the banks continue to do well. credit suisse up nearly 10% over the last few sessions. really cracking performance coming through there. the real story is the morning, what is happening on the u.k. high street and how difficult it is right now. you can see it rippling across the market. staying in the u.k., britain's prime minister needs to be told uncomfortable truths about the difficulties of negotiating brexit." yesterday, auit little early, and urged british officials working in brussels to keep challenging "muddled thinking from colleagues in london." his resignation is seen as increasingly prospect for a so-called hard brexit. stopford. as, john should we present a hard brexit? should the pound price in a hard brexit? john: we are in a position where we will find it difficult to get the deals we need in the timelines that are set, s

, including a li—year—old girl. tesco's share price rises sharply after the supermarket chain says it's buying the food wholesaler booker, including its chains of convenience stores. an update on the market numbers for you. for viewers expecting the film review with mark kermode, it'll be on at 9:16 on bbc news channel this evening because we're waiting for this joint press conference between prime minister theresa may and president trump. that is where they are going to be. barbara, do we have any idea what is going on? we have some idea, because we are getting photographs and reports. we know that mr trump met theresa may at the door, kind of unusual protocol here. she is in the oval office, she was photographed signing her name in the guestbook, the first name in the foreign visitors' guestbook for president trump. they got a photograph taken, standing either side of the bust of winston churchill. president obama removed that when he was here and mr trump has returned at. he moved the bmp trump has returned at. he moved the lamp so that reporters could get a better shot. he said it was a re

biggest retailers at christmas. m&s, tesco, john lewis and debenhams all announced positive financial figures today. so what's been going on? our business correspondent emma simpson has been having a look. we did spend, this christmas. a bit more than last year. food did particularly well. tesco's sales were up today and other supermarkets have also had a good season. but fashion is more of a mixed bag. next had a poor christmas. the big surprises? marks & spencer. with the help of mrs claus, clothing sales grew for the first time in two years, up by more than 2%. a real present. it's brought down clothing prices. it has also focused on getting the price right the first time, so when you buy something, there's less risk of the price being reduced in a couple of weeks. on the whole, christmas turned out ok. but retailers are much more worried about what lies ahead. john lewis had a decent christmas. 40% of its sales were via the internet. with shopping habits changing fast, it says it needs to invest more online and prepare for the impact of a weaker pound. there are pressure

manipulations tied to the scandal. he resigned in september 2015 tesco is making an acquisition. the u.k. supermarket leader has agreed to buy the number one u.k. food wholesaler booker group. the price tag, $4.6 billion. the deal will enable tesco to gain access to the fastest-growing market to supply restaurants and hotels. the bank of japan moves to purchase bonds in five and 10-years after benchmarks climbed. the level serves as the upper limit of its target range. the central bank also made clear it has less interest in containing yields on so-called super long bonds which have risen this month to the highest levels in a year. time now for our bloomberg quick take where we , provide context and background on issues of interest. of two centuries, the virtue free trade when almost unchallenged, but now it's the target of a populist backlash that is helped to propel donald trump to victory. fulfilling his campaign pledge to rewrite trade policy, president trump on january 23 sign in order to withdraw the u.s. from the transpacific partnership. the sweeping 12-ish impact that is known a

weeks to the end of december. food sales were up by 0.6%. meanwhile, tesco says its third quarter sales were up by 1.8%. and john lewis has reported a 2.7% rise in like—for—like sales over the christmas trading period. it seems the any negative story so far this year have been a next dismore report and what we can confirm from asda's performance. overall it seems to be quite robust christmas for everyone. temperatures across the uk are expected to fall over the next couple of days, bringing the possibility of snow in some areas. the met office has issued yellow "be aware" warnings for much of the country. strong winds are also forecast. in scotland, snow and winds of 70 mph forecast throughout the day. plans for the uk's first hydroelectric tidal lagoon will take a significant step forward today. a report from the former energy minister charles hendy concludes that the technology can deliver a secure supply of clean energy, with swansea bay the front runner for the £1.3 billion project. roger harrabin has more. will this be the uk's latest source of low—carbon energy? the t

makes the company's biggest ever deal. shareholder also earn about 16% as tesco absorbs booker. bugle missed profit in the ourth quarter after spending on hardware. shares fell more than 2% in extended trading. that's the bloomberg business -- mark? mark: u.b.s. profit more than tripling in the fourth quarter. the bank putting aside less money for litigation. manus cranny is in zurich. he has been speaking to the u.b.s. chief executive. big beat. stock is down today. square that circle for us. manus: down 3.3%. we're watching what the analysts are saying. they have taken less of a litigation charge than the market anticipated. there is a number at practice here. transactions in the fourth quarter were at a record low. the question, ermotti and i chatted, there is a difference between optimism of trumpnomics and the reality. a seasonal adjustment for people squaring up their tax issues. transactions at a record low. those are the issues that the arket is focusing on they have not hit the bottom line in terms of transaction. there is a big theme cog. it is about what happens in america.

cloud computing business as well. on to the u.k. for some mergers. --had tesco and burgers tesco and booker. this deal valued at $4.6 billion, a 12% premium to booker 's close yesterday. the deal could face potential antitrust scrutiny. but it may surprise many analysts as well. no one had expected something like this, but now we have to turn to regulators to see what we are going to get from them. let's get an update on what is making headlines outside the business world. in the chandra is here with "first word news." emma: theresa may becomes the first foreign leader to meet president trump at the white house. yesterday she embraced trump as a friend and ally but cautioned him not to turn his back on long-established political values and global institutions. she said they can lead together again in the world. coming up at 1:00 p.m. eastern time, trump and may hold a joint press conference. we will bring you that live on bloomberg. vladimir putin is set to speak with u.s. president donald trump iphone over the weekend. it is set for tomorrow. he congratulated trump after his victory

, signaling tesco's intent and sense of purpose is back. swiss bank ubs has a four to 22% drop in net income for the fourth quarter of 2016, net -- compared toat monitor 49 million in the past years. improving investor confidence in the united states could boost its wealth management business this year. quarterly profits rise 3.6% at u.s. tech giant microsoft. revenues in the second quarter came in at $24 billion. the company says its acquisition of linkedin boosted revenue, but dragged on profits. microsoft has been shifting its dependence from software to broader services, including cloud computing. that's the business news. back to you, chris. chris: next up, the press review. time now for a look at what's making headlines in the papers in france. the presidential race is heating up, and the mainstream rights contender finds himself in hot water. reporter: he does. let's start with the front page or it. a rather clever jibe at the expense of the wife of the social right candidate. the phrase translates roughly as assisted by parliament, as opposed to parliamentary assistants. she claims t

, uk grocery giant tesco has seen earnings improve thanks in part to a large restructuring. and now you're seeing the company put money to use buying food wholesaler booker group for over $4.5 billion. shares of both companies surging on the news. tesco up 9%, booker group up about 16%. in the banking sector, ubs falling, despite net profit falling, total operating income at its wealth management unit falling 5% in the fourth quarter. credit suisse also falling in today's trade. overall we're looking at european stocks set to end the week higher but still underperforming u.s. stocks in 2017. european stock index up 1.3%, the s&p 500 up about 2.5%. kayla? >> thanks so much, seema. >>> straight ahead on "squawk alley," we'll speak with the head of microsoft's commercial business on the heels of an impressive quarter. his take on the business and the competition, coming up. >>> plus, the mayor of los angeles on the record when it comes to president trump and a trade war with mexico. his take, coming up next. >>> i'm morgan brennan with your "cnbc news update" this hour. a senior irania

men's and women's razors. tesco had been charging twice as much for men's razors. today, they lowers the price of the female model to $1.25 for a two-pack. they found that women were charged 37% more for clothes in the uk. >> it's amazing how much it costs to turn something pink instead of blue. jill wagner at the new york stock exchange. thanks a lot, jill. >>> still ahead, a last-second thriller. the trojans fight until the very end against penn state for the rose bowl championship. ok can we... sfx: (balloon squeals) i'm being so serious right now... i really want to know how your coffee is. it's... sfx: (balloon squeals) hahahaha, i had a 2nd balloon goodbye! oof, that milk in your coffee was messing with you, wasn't it? yeah. happens to more people than you think. try lactaid, it's real milk, without that annoying lactose. mmm. good right? yeah. lactaid. it's the milk that doesn't mess with you. i'm raph. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here, we're here, and we'

return to growth in its clothing division and homeware. tesco, debenhams and john lewis all reported better than expected sales in the run up to christmas. our business correspondent emma simpson reports. mrs claus was popular this christmas, delivering presents in marks & spencer‘s glossy campaign. and this business served up a far bigger surprise present then just shoes. for the first time in two years, clothing sales are up by more than 2%. it is getting back to serving its core customers. the clothes are stylish, but without being too cutting—edge, and it has brought down clothing prices. it has also focused on getting the price right the first time so that when you buy something, there is less risk of the price being reduced in a couple of weeks and you have to take it back to get a better deal. too soon? nah, bring it on. and looking good for britain‘s biggest retailer, enjoying an increase in sales, more proof that we have splashed out on food. on christmas eve, tesco was serving 266 customers a second. if you look at the picture, on the whole it looks like retailers hav

expect them to do well. sainsbury, tesco, and others this week. an. boris johnson, who's visiting washington, says he's confident britain will be first in line for a trade deal with the new us administration. the foreign secretary has been meeting senior republican politicians who've promised to make a us—uk trade deal a priority, barack 0bama warned in april that the uk would be at the back of the queue if voters chose brexit. police in northamptonshire have closed a stretch of the m1 motorway after a body was found in the road in the early hours of the morning. the northbound carriageway between junctions 16 and 17, near northampton and rugby, was shut following the discovery and is expected to remain closed for most of today. police are investigating the circumstances of the death. the british and irish governments say they're going to work to try to find a solution to the most serious political crisis in northern ireland in a decade. yesterday, the deputy first minister, sinn fein‘s martin mcguinness resigned. it came after weeks of tensions between his party and their par

corner shop, but a few years ago abdul was ready to shut up shop. from here you can see tesco, on the other side you have sainsbury‘s. five years ago i thought we would have to close and forget it. the supermarkets were getting stronger. we were weaker. we didn't have enough staff. but it now seems to have a winning formula. luring customers with bespoke offerings from local organics to homemade curries. come here, iwill show from local organics to homemade curries. come here, i will show you aladdin's cave. all the foods you can buy from the world, spices. people want to eat healthy. recession can come and go. one thing people won't cut too much is on food. you have all the vegetables possibly you can get. this is what you were on about. my favourite. and the chillies. they are there. all different types. 40 years ago, if i had an english customer and there was a couple of chillies left in the basket i would say you can have it, they would say, no, we don't eat it. today english customers will buy a kilo, people have changed. they know a lot more. they know what spices to buy.

. sainsbury‘s today which was good and tomorrow we get marks & spencer's and debenhams and tesco. at the end of tomorrow we conclude whether in the uk it was a good christmas or bad christmas for retailers. reports that wall mart in the us is trying to restrict ture. —— restrict ture. richard will be back in about five minutes. he's not done yet. we have got some good stories to discuss including the hushmie! we've got a story that comes out of a movie. our next guest is feeding babies around the world. the supermarket sainsbury‘s said it had a record christmas week as it releases its latest trading update. the company said it saw 30 million transactions and £1 billion of sales. theo leggett is in our business newsroom. so a good christmas then, but was it all good news? well, if you look at the market reaction, investors are certainly impressed. i like having a spectacular graph. look at this one. sainsbury‘s shares up nearly 8.5% so far this morning because analysts we re far this morning because analysts were expecting the figures to be worse. on the surface, as you said, they're

identical blue razor. tesco defended the pricing arguing it sells far more men's razor. making it easier to keep the prices low. the retailer will now be charging both products at the men's razor price. a police chase in los angeles took an unusual turn when the suspect stopped and started waving. the driver of a dark-colored sedan led officers on a chase through the san fernando valley monday. there were reports he had been brandishing a gun. police chased him for about 90 minutes. he finally pulled over and started walking backwards. it's beautiful. was it a hard place to get to? (laughs) it wasn't too bad. with the chase mobile app, jimmy chin can master depositing his hard earned checks in a snap. easy to use chase technology for whatever you're trying to master. there's >> reporter: few things a you can do set up automatic savings account every time you get paid little goes into savings to get rid of that paid more than the minimum amount on your credit-card pay off the balance of the card with highs interest-rate first this unless put together a budget check your statements.

, tesco is the most improved supermarket and the telecoms sector came last. the number of britons moving home last year fell for the first time in five years, according to lloyds bank. in total, 354,000 uk households sold up and bought elsewhere, 4% fewer than in 2015. the bank said that was the first annual decline since 2011. uber is paying more than £16 million to settle allegations that it duped people into working for its ride—hailing service. the us federal trade commission said uber offered false promises about how much drivers would earn and how much they would have to pay to finance a car. the agreement covers statements uber made from late 2013 until 2015 while trying to recruit more drivers to expand its service and remain ahead of its main rival, lyft. a quick look at the market some of thatis a quick look at the market some of that is slightly down. —— the ftse is slightly do. stirling took a bit of a knock today. this just see a bit more of the footage that has been emerging from italy this lunchtime. quite extraordinary scenes there. you remember the hotel th

. also many other stories as well. tesco shares down 1% today in london. you may well remember the accountancy scandal in 2014. the financial times says the supermarket chain could be facing a second legal claim as a consequence of that. that is on the website. rio tinto doing well today in london. you're watching business live. our top story: as president trump tells carmakers to build more vehicles in the usa, mexican leaders head to washington as they try to keep the border open for business and concede that might mean altering the nafta free trade deal. a quick look at how the markets are faring. they are all higher for now. it has been quite a week this week. up and down. today a combination of earnings and a good session in asia and the us helping. and now let's get the inside track on how the world's top business leaders get around. we're talking corporate jets and private planes. they can be the fastest way to get between back to back meetings in different countries. we do that all the time! but the market is difficult for some. jet inventory is rising, as manufacturers chu

, morrisons and tesco's were all showing courgettes as unavailable this morning. leeds market this morning you could get cou rg ettes, market this morning you could get courgettes, but at a price. our core customers coming for a bargain, because things are cheap and good. cou rg ettes, because things are cheap and good. courgettes, broccoli, cauliflower as and a few other things have gone the roots. we shouldn't get panicky, it'sjust a courgette. not all shops are reporting shortages. supermarkets say they are working to improve supplies and it shouldn't be long before the courgette crisis is over. there's been a big upset in the world of tennis today. the defending champion novak djokovic has been knocked out of the australian open. djokovic — a six—time winner of the tournament, who's ranked number two in the world — lost in five sets in melbourne to denis istomin, a wild card entry from uzbekistan. our sports correspondent joe wilson reports. denis istomin, 12 years into his career, four and a half hours into the match of his life. the world number 117 from uzbekistan wasn't simpl

retailers, tesco, morrisons, all warning about food inflation this year. will that hit sales? i think it will, the return of inflation, i think it will dampen sales by the end of the year, all of the retailers are cautious. james green, a lwa ys retailers are cautious. james green, always a pleasure, have a great weekend, we will see you very soon. still to come... it's a week to go until donald trump's inauguration as president, but are we any clearer about his economic policies? you're with business live from bbc news. foreign visitors spent over £725 million on british high streets in december, as the weakened pound prompted an influx of bargain—hunting ‘brexit tourists' to the uk over the christmas period. that's according to data from worldpay, who say spending on foreign cards was up by 22% in december, with high—end boutiques and department stores in london among the biggest beneficiaries. let's get more with theo leggett. he is not necessarily in our flashy newsroom today, are you? know, just a bunch of screens behind you. iamat a bunch of screens behind you. i am at the o

entire community. jon kay bbc news, bristol crown court. the uk's largest retailer, tesco, is to buy britain's largest food wholesaler, booker, in a deal worth nearly £4 billion. booker supplies everything from baked beans to tea bags to 700,000 convenience stores, grocers, pubs and restaurants and also owns budgens and londis. the firms said the deal would create the uk's leading food business. here's our business correspondent emma simpson. hello. you wouldn't drive drunk but inside out, we are always a step ahead. first, driving tired can bejust as dangerous as string driving. a recent online survey of more than 1100 junior doctors, a1% admitted falling asleep behind the wheel following a night shift, so is it time we all woke up to the danger?” know of for colleagues who died within my first two years of qualifying. all were driving home after shifts. i have an 11-month-old daughter and i continually worry about having an accident.” daughter and i continually worry about having an accident. i was driving in the slow lane on the motorway, then woke up in the fast lane. these