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Bloomberg
Jul 26, 2017 2:30am EDT
automotive research analyst at ever core isi. george, how big of a problem could this become? allegesly could this collusion become -- alleged collusion become? difficult to put a number on it. we do not know the exact details of collusion itself, and there are questions over what the companies have admitted already to the authorities. we know that whistleblowers have been given some leniency in the past, so it remains to be seen exactly what the details are and whether the companies have actually come forward with this information or whether there is more information to come out. how much more important is the possibility of banning diesel? michael was on the bbc earlier and said that councils can now restrict diesels on some roads. there is a heck of a lot of diesel cars out there in european hands. that seems like it could be very expensive to fix. i think banning existing diesel fleets really punishes the consumer more than anyone, because of course, they have already acquired these cars. what we are seeing across europe is that bmw, audi, and mercedes are offering voluntary recalls
Bloomberg
Jun 23, 2017 2:30am EDT
important to discuss. now, george saravelos . the pound has been a pressure valve. it has allowed the u.k. economy to transition to a new phase of uncertainty. phase?ppens in the next it looks even more uncertain in many ways. .e have priced a lot in we priced a hard brexit. are we going to see more volatility? george: we think we will. if you look at where the pound is versus eight months ago, it is still stronger. the debate around the markets focus on the hard versus soft are moreut we concerned about the capacity to deliver on anything. the prime minister lacks is efficient amount of political capital. we are worried negotiations will drag on. wee next year, march, june, could begin the same place. the market will be worried we are running out of time. we are more worried about time. i can see negotiating leaving the e.u. in the remain 21 months, but do you think there is any possible way that a trade deal is negotiated with the e.u. in the next anyone months? george: absolutely not. i don't think there is time to negotiate a complete free trade agreement. it will point boiled down to
Bloomberg
Jan 20, 2017 2:30am EST
sense of direction. bloomberg first word update. here is juliette saly. juliette: thank you. george soros has called donald trump a calm man and said he will fail because his ideas are contradictory and the new white house team will fight with each other. the billionaire investor also warned that the stock market rallies since the election spurred by promises to slash regulations and boost spending will come to a halt. janet yellen has backed a strategy for gradually raising interest rates. in a speech at stanford university, she argued the central bank hasn't been behind the curve, but admitted it can't afford to let the economy run too hot. donald trump is set to enter the white house. yellen said fiscal policy is one of the many uncertainties the fed has to deal with. the u.k. prime minister has offered her strongest support yet for the city of london has brexit moves closer. theresa may's comments come as large banks prepare to move staff abroad after the u.k. leaves the e.u. i financial services in the city of london. i want to ensure that we can keep financial services in the
Bloomberg
Feb 6, 2017 2:30am EST
shareholders that they can produce good cash flows. guy: all dogs can learn new tricks. george: quite a lot of these ceos are new dogs. we have had a big changeover in management. mark is one of those exceptions. a number of companies where the ceos have changed and the new ceos mandates are to cut costs and generate cash. guy: previously, the incentive was different. are these guys incentivized to deliver upon this? one thing i have always been nervous about is volatility. if you can say -- he is is a bigzed, that ticket in the box for this sector. guest: at this point in the cycle, the ceos know what they have to do which is to generate cash and not spend it all on capex or m&a. where are we in the cycle as far as pricing is concerned? gold price going back to the late 1990's. we almost got to 2000. .e have come down to 1223 are you comfortable here? are we underpriced or overpriced? this is a lot of money for an ounce of gold. george: we're pretty comfortable. side --trading on one we have janet yellen on one side looking to raise rates as the economy strengthens. on the oth
Bloomberg
Aug 3, 2017 2:30am EDT
bloomberg. guy: thanks, seb. bloomberg surveys suggest -- guest is going to beg to differ. george buckley has joined us on set. george, you're not completely alone. there is one other as far as we can tell on the bloomberg that had the call for a hike today, but you're pretty much alone. why do you think the bank is going to deliver a hike today and why do you think the market has got it wrong? george: i'm looking at 20 reasons why the bank of england could, should, will deliver a rate hike today. some of the key ones are things like the economy is recovered -- the global economy is recovering. we did not have a synchronized global recovery which we do now. the output gap is closed according to many much -- pretty much every forecaster. there are many measures of tightness for the labor market suggesting it is tightening and wage growth, even though it has not happened for a very long time, is starting to pick up across a lot of different measures. they will find out more at 12:00 today when they publish the inflation report. this is rising further about the 2% level. that has nothing to
Bloomberg
Aug 25, 2017 2:30am EDT
offered opposing views on inflation debate. esther george said another rate hike is feasible this year if u.s. data holds up. robert cap calls it a -- called for patience. robert: i haven't lost faith it will get back to its 2% target. but you have to understand the historic cyclical forces and the models that would have suggested what the cyclical forces, the impact they should have. they are being offset by new forces, which you can understand mainly by looking at interesting companies and talking to ceos. i think those are having a meeting affect -- muting effect on inflation. matt: janet yellen and mario draghi are due to speak in the rocky mountains resort and investors will be scouring comments for clues about the next moves. jackson hole is kathleen hays, very early in the morning. thank you for getting up for us. how start is the discord here among fed members on inflation? kathleen: let me start by saying i have not gotten up early, i have just stayed up later. it is an exciting time in jackson hole, the federal symposium draws not just central bankers from across the u.s
Bloomberg
Nov 1, 2017 3:30am EDT
security to bolster the vetting of immigrants coming into the u.s.. u.s., george papadopoulos made a significant claim in an gmail. top campaign officials agreed to a pre-election meeting with representatives of the vladimir putin. if true, it would bolster claims that the campaign attempted to collude with russia. it is unclear whether cap about the less, which pled guilty to lying to the fbi, was mean -- merely boasting. there is no indication such a meeting took place. in washington, the house ways and means committee has postponed the planned release of a tax bill by one day. tot moves the release tomorrow amid unresolved questions about the timing of a corporate tax rate cut and other proposals. while the chairman said committee members were pleased with the progress, the delay of passing challenge a bill by the thanksgiving deadline by house speaker paul ryan. present hasatalan been -- president has been summoned to court on charges of sedition. police -- fled to brussels after spain seized control of the government after the declaration of independence. while members of her --
Bloomberg
Feb 15, 2017 2:30am EST
to peugeot. ith us now is george galliers. why don't i start with guys question. in?does peugeot want werge: it is the question are asking as well. structurally, when we look at it, there are big questions. gm europe loses money, it burns exposure it has a big to germany, where 66% of its around 27% of its european production and as we know, germany is an expensive place to make cars, but it may see some near-term gains. firstly, opportunities for andrgies on capex white-collar jobs and in addition, as we look to the future and the investments required in electrification, autonomous driving, mobility, you may believe incremental scale is what psa needs at this point in time. matt: does he get access to technology, because general motors has done an amazing job with electric cars. the volt was a breakthrough when it first came out. it looks to be an affordable breakthrough right now as well. does it get access to technology he did not get before the partnership? is the i do not know, answer. my suspicion is that gm would be very reluctant to hand over the technology and arguably t
Bloomberg
Nov 22, 2017 2:30am EST
very much like to address that. the problem for him is that , george osborne has tried to do that very thing and has not had much success. productivity growth averaged -- in the post crisis period. for him to address that would require some really big spending, and i don't think that is what we are expecting. matt: he is not going to throw off the chains of austerity and give the british people what they deserve for voting brexit? elizabeth: in this political climate, you might expect the chancellor to throw a bit more money at the economy. we have got a bit of a slowdown, some uncertainty about brexit, but actually, this particular chancellor is quite cautious. he is focused on his own fiscal target. i think he is looking for the long term as well if you look at the u.k. public finances over the long-term. there is good reason to focus on that now. guy: how bad are the public finances in the u.k.? elizabeth: pretty bad. if you allow for all the spending cuts and austerity built in the the projections right now, that comes a little, but that is because of the burden that will be on the
Bloomberg
Oct 30, 2017 2:30am EDT
top line with the euro is, you've been listening to george michael, have faith. integration. --t is going to drive euro the euro? >> the integration story. real money investors are here when it comes to politics. -- cap to land -- catalan. when it comes to draghi and the ecb, sort of avoided for now. now it is about the rate hike. when will the first rate hike come through? here it is all about underlying inflation and effect and move towards 2% this week area if , calls for an earlier rate hike may be called. we see that is a story for next summer. corey: interesting you mustn't --anna: interesting u.s. and -- the leaderse story, standing in front of their own a flag and the eu flag in contrast to what we see in italy which is anti-e u. when we get a rate rise -- he was saying it was interesting that a lot of conversation was around that at the press conference. not 2018.9 and 2020, you are suggesting we can see rate hikes next year. the pricing that we saw with the bank of england, as soon as the cat is out of the bag, the currency market is key. manus: the bank of japan meeting a
Bloomberg
Apr 11, 2017 2:30am EDT
unfold. is that affecting u.k. consumers? u.k. small businesses? george: i think it is affecting consumers, or starting to. the point is when you look at the national accounts, the figures for the fourth quarter of last year, they showed income growth much weaker in nominal terms and it was a year before. that is even before we think about the rising deflation. we haven't actually seen in the full numbers, this big increase in prices due to the weakness in sterling and the impact on consumer price indices. that is starting to be felt and as it does, more significantly 2018,h 2017 and possibly and you are starting to see wage growth in real terms even softer. i think the slowdown in consumer spending we have seen so far in the surveys has yet to come through in the official evidence, but will do in a matter of time. guy: can the u.k. consumer borrow much more? george: there are a couple of side,s -- on the positive banks are certainly able and willing to lend more than they were a few years ago. that is on the positive side. on the negative side, we are at levels of the saving rat
Bloomberg
Jul 11, 2017 2:30am EDT
by george r martin. writer of game of thrones. the open is four minutes away. this is bloomberg. guy: cash is about to open. where bloomberg it is telling us it will go this morning. the yen has gone off this morning, partly to do with what is with the yield curves in europe and japan. not amazing but we will take what we get at this point in time. european equities of by two points -- .2%. we are not going down. in terms of some of the stocks, msci this morning. matt, what have you got? keep the bondo market at the forefront of everyone's mind area 1766 on the bloomberg. a two-year short position and two-year treasury. you can see here at a decade of low. the white line is the absolute level. it has not been this low since 2008 and people get -- bearish. not exactly the whirlwind to her of the financial markets. slow and steady, dipping into negative territory. we are expecting a flat start around europe. how mark and see spencer works. walk us through what we are seeing there. matt: i'm looking at the headlines here. 275ts rose to a record versus as of march 242,000,000,001 year ag
Bloomberg
Jun 9, 2017 2:30am EDT
the brexit vote and what this means. we had george osborne saying the hard brexit is now in the trashcan. let's go to the other side of the political spectrum. ine blimey is the headline relation to jeremy corbyn and the strong performance he has had. i will pick it up there. we are seeing the pound touch session lows here. a lot of action in that risk asset, but not a lot of action in others. for the market, it is a fairly isolated event. it is a global story. i want to get more on that. let's go to the bloomberg first word news. let's continue our focus on the u.k. for the moment. labour party leader jeremy calling on prime minister theresa may to standdown. that comes as a result of the hung parliament. a conservative and was widely expected. >> the prime minister called the election, because she wanted a mandate. the mandate she has got his last interpretive seats, lost votes, lost support come and lost confidence. i would think that would be enough to go and make way for a government that will be truly representative of all the people of this country. shery: this hung parli
Bloomberg
Jan 11, 2017 2:30am EST
, and this goes , ford, nixon, and johnson. as you can see, george w. bush, they momentarily tripped higher under obama. then of course, we have been on a one-way cascade with a few volatile periods in between. let us bring in mohammed to mouhammed. are there bowls right -- bulls right? what is the consequence of that on equities? definitionds on your of the bull run. you can see the peak in double-digit is only when we reverse that ball run that we can say we are back to where we were at the peak. we have seen the selloff already. mouhammed: we have tested it before in the past decade against the backdrop of economic uncertainty. this is not the first time we ine seen this had a selloff bonds so it is too early to say. manus: -- matt: i wanted you to tie this together with equities. does this mean investors will be using their money to buy stocks? anna: -- mouhammed: the argument in the past years is lower yield justify higher -- the compression and valuations. the behavior in markets is not consistent with that thesis. our research shows actually there is still good returns to be h
Bloomberg
Sep 8, 2017 2:30am EDT
lot from fed speakers. we had dudley, george, master, what was the message? too different from what they have been saying. they both seem fairly happy with the way the fed is going. it is a gradual process, there is still going to be room for rates to be erased -- raised at some point. but they are concerned inflation isn't showing the way they would hope. dudley thinks wages will start to increase again, he said. the bigger concern for investors is when they hear things like there could be as many as six different people being considered as the next fomc chairman. it makes them hard to decide how do we read policy going forward? i think investors would like some clarity on if it isn't going to be janet yellen, who is running the fed next year? matt: mark, thank you so much for your time. bloomberg mliv strategist. you can follow market insights on the bloomberg with that blog. it is insightful. mliv is the function command on your bloomberg carried we are minutes from the open. up next, we take a look at the movers in today's trading including akzonobel, which has cut its prof
Bloomberg
Feb 28, 2017 2:30am EST
said tony blair and sort of other people, george osborne, to some extent, are fighting last year's war. there is truth in that. clearly, there will be an attempt by the house of lords to try and adjust the deal or address the deal. parliament will have some sort of say, but fundamentally, i think that ship has sailed. i do not think we are going to go back and have another referendum, personally. matt: and so, how detrimental do you think -- i mean, we were talking to adam marshall earlier, general director of the british chamber of commerce, and he seemed oddly optimistic. i guess you cannot expect a guy in his position to be openly pessimistic, but aren't british business is going to severely suffer due to lack of entry in the single market? said, i thinks i it depends to some extent what deals are done generally around the world. maybe this is the opportunity to strike new deals. i think certainly, it is potentially an opportunity to get rid of some of the restrictions that may be come with european membership, so maybe more deregulation, more business friendly policies. is that eno
Bloomberg
May 24, 2017 2:30am EDT
george bush administration official. the conversation coming up next. athe open 18 minutes away. this is bloomberg. ♪ matt: we are 15 minutes away willthe cash trade and it be interesting to see what happens today considering ladies downgrade of china and president trump's visit to the vatican. -- moody's downgrade of china and president trump's visit to the vatican. guy: here's a bloomberg business flash. grain trader. sword. glencore said there is a potential friendly merger and there is uncertainty at deal will happen. $11.5ave market value at billion. morgan stanley has said it will cut back on using recruitment bonuses to [inaudible] after bank of america and ubs signaled similar moves. they will honor a criminal -- agreement deals that include start dates. aey are planning to roll out support talks to advisers. [inaudible] were equipped with the so-called fake devices. the company is reviewing the complaints but is disappointed that the suit has been filed. that is your bloomberg business flash. allies, opec and its close to an agreement to extend their oil production cu
Bloomberg
Jan 26, 2017 2:30am EST
carter. we'll have to google that, matt. coming up -- matt: i believe george w. bush did not think either. manus: maybe there's something -- a republican thing. matt: maybe. [laughter] [crosstalk] is having abody stressful time downstairs. we will get there and talk about the u.k. government. they are publishing a bill to trigger brexit. that was on the agenda for parliament and it promises to be short and straight forward, but it will pass parliamentary scrutiny. that is the question. retreat.o bulls retreat. the dow hitting 20,000. professional investors warn it will not last. those stories and more, this is bloomberg. ♪ matt: welcome back to the european market open. take a look at where stocks are trading just 15 minutes into the session here. gains across the board, stronger on the continent than in the u.k.. the ftse up .1%. the dax gaining two thirds of 1% and the cac up .4%. this after gained yesterday for these indexes, but maybe more importantly, big gains in the u.s. to new records,. dow, 20,000 for the first time ever in new york. the trump trade continues to equities
Bloomberg
Dec 8, 2017 2:30am EST
lloyd george, who created ambiguity in negotiations. agreement signed back then. that was the whole point. ambiguity,on and beautiful things that let you overcome a lot. forink that is it from a us the moment. let's see where these negotiations go. that. thank you for senior investment manager at aberdeen standard investment. manus: let's get the first word news with juliette saly. juliette: the u.s. congress is passed asap -- two week extension that ever take government shut down. untilers now have december 22 to settle some larger issues on spending and legislation. at the same time, they will rush to finish work on tax legislation before leaving washington for the holidays. germany has moved a step closer to a new grand coalition after its leaders secured an endorsement from the party base to begin talks with chancellor merkel. the motion didn't specify what form an alliance would take, with many rejecting a renewed coalition in favor of supporting a minority government. china's exports have unexpectedly jumped as global demand remained firm while import growth in the world's sec
Bloomberg
Feb 20, 2017 2:30am EST
speak to the former finance minister, george papaconstantinou, as euro area finance ministers meet in brussels. plus, london house prices post their biggest annual decline in five years. this is bloomberg. ♪ manus: it is the european market open. let's check in on the markets. in terms of individual names on the move, there you go. the market just seems to be in a bullish mood. we wait for the fed minutes later this week. who cares if you have the second-biggest deal on record actually falling apart? two days on, it is toast. nejra? nejra: we have seen bullish markets overall, but the bulls are pulling back when it comes to unilever. the stock rally 13% on friday. kraft, rowling is low on news of that potential deal, which would have been the biggest deal in the food and beverages area. kraft heinz is pulling out of the $143 billion merger after it got pushed back on unilever. what i find interesting is according to people with knowledge of the matter, this was not concerns about u.k. competition, it was more about warren buffett being a verse two hostile takeovers -- being averse t
Bloomberg
Nov 18, 2016 2:30am EST
, clinton administration, a chinese currency manipulator. the george w. bush administration did things with steel as well. and thereprecedents are lawsuits or going to the wto -- that sort of thing. direction, wethat have seen that movie play out and it is not terribly destabilizing. what if there is a significantly stronger approach than that, it could smell like a trade war which would be very destabilizing. guy: thank you for joining us. mario draghi is speaking from frank for. mario draghi: since the onset of the global financial crisis, 2016, this year has been the first full year where gdp in the new area has been above its precrisis level. taken us around seven and a half years to get there. the economy is now recovering at moderate steady pace. on -- employment has grown by million since 2013. the recovery has become more broad-based with less difference in economic performance across countries. what we have now to ask is what are the factors that have allowed the recovery to gather steam and where we have reason to believe that they are sufficient to deliver a sustained adjust
Bloomberg
Nov 23, 2016 2:30am EST
there is a good case in the u.k. for quite a lot more public investment. the previous chancellor george osborne added sharply in 2010 and it never recovered. ofhave got the deficit infrastructure and that is where we have been running down the country's accent. it is not because the economy in the short-term needs a stimulus. it is because we have been under investing. guy: let's talk about what the bill is going to be for brexit. you say the data at this point are not showing us any significant deterioration. there is an expectation of the deficit will become more of a problem going forward. that is the projection in blue and the independent forecast in billions of pounds. is there an opportunity to go now when there will not be down the road? jonathan: i'd do not think we should get too worried about these projections. they are very uncertain. the obr will be the first to say that their predictions are a guess at best. the debt to gdp ratio will even under these new projections still be pretty much stable at a level which we should not be worried about. there is room for maneuver. it
Bloomberg
Aug 18, 2017 2:30am EDT
georgia. -- for george's -- prince -- prejorative. we will carry on with what is happening in barcelona, front of our minds as we digest the horrible events that took place yesterday and this is covenant -- the subsequent shooting. another suspect has been arrested. more on this through the mornings open. six minutes away. this is bloomberg. ♪ theory let us take a quick look at what the fair values are telling us. down by 0.9%. down by 0.8%. the ibex down 1.3% this morning. we are likely to see some market reaction based on spain today. matt: i have a chart here. the size of the moves in the s&p 500 broken down on a daily basis. the red line, anything that goes young that is below 1%. anything above the greenline goes above 1%. we have not had any of these kinds of swings lately and now a week.had two in the last time we had a 1% moved to the downside was in may. this just shows you have seriously the markets have taken these issues. london to open down 0.5% and slightly bigger moves in the continental markets. down like spain will open by over 1% this morning following the attacks fr
Bloomberg
Oct 31, 2017 3:30am EDT
paul absent from the white house. george papadopoulos' guilty charge in this hour. our discussione and a stephanie baker will join us. wednesday and thursday, fed and boe meetings. governor carney can't make up his mind. maybe governor carney will go as hard data. ,print meeting with t-mobile that might not happen. they disagree over command, control and valuations. this is "bloomberg surveillance" and i'm tome keene. nejra, they after day, in for francine lacqua. i'm going as cash. what will you go as? nejra: oh, i dont know. maybe i will go as a call opti on. u can dress in gr
Bloomberg
Dec 29, 2017 2:30am EST
transition period and a trade deal with the block. hasiberia, george way or been elected president after a decisive victory. it marks the west african nations first fully democratic transition in more than 70 years. he grew up in a slum before playing for all -- football. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries, this is bloomberg. guy: thank you, ed. is with us this morning. what do you like going into 18? the big driver for 2017 has been the massive expansion of the central banks. we have seen 12% expansion in their relative to the euro in new year. in 2018, that is going to be half the pace, probably 6% or so. the ample liquidity -- liquidity is going to be less ample, though not yet tight. at its will hold for the first part of 2018. when needs to gradually become more conservative. probably the best place in terms of the fixed income continues to be the financial institutions, the tier one capital's, because the cycle for the last two years, fully entered with a change from two to three regulation. that is a good place t
Bloomberg
Jan 16, 2018 2:30am EST
in this sector because it will be important to watch. team,ur equities alexander george esca joins us. i want to talk about bp taking a horizonn this deepwater claims, the closure of deepwater horizon what is the story and what will the stock action look like globally? >> this was expected, but this is the first time we actually get the amount. figure, $1.7 billion in the fourth quarter. the cfo commented in the statement that this is not going to be a strain on resources for the company, it is fully manageable within the company's existing structure and the cash is going to be spread over multiple years. it shouldn't -- we don't know how investors are going to take this. , we will see what they think of that, but it is manageable up according to the company. is one bright spot in the real estate space, savos. >> they said their 2017 results are better than expected and stronger end of year then anticipated with heavy commercial volumes in the u k and other european and asian markets. that is a bright spot, especially at a time when there is so much uncertainty hanging over the real e
Bloomberg
Oct 16, 2017 2:30am EDT
shareholders? or is it a bigger plus on the side of the employees and labor's interest? george karl i don't they can mix too much of a difference -- joerg: i don't think they can make too much of a difference. is careful of the environment in which volkswagen ask. in my view, this is not that much of an impact on volkswagen's standing in the environment in which it performs. guy: good morning. bet will the view in bavaria at what just happened in austria? how will that complicate the formation of the next german government? the concern in bavaria will take the confirmation of their own reports. what the conservatives in bavaria are try to do is preempt the far right alternative for germany by moving the only policy positions to the right. this is what has been done in austria. the sea in bavaria will see of there's a confirmation. guy: will that make it harder to form the jamaica coalition? joerg: absolutely because the jamaica coalition here in berlin is basically torn in two directions. the csu but also the pre-democrats were pulling angela merkel's conservatives farther to the righ
Bloomberg
Nov 14, 2017 2:30am EST
appreciated, are we talking tax cuts like george bush, or tax reforms like reagan. this seems to have different implications. toward tax is geared cuts rather than tax reform, this is more inflationary. if the plan is geared toward tax reform, then we might have a best of the two worlds. the details are a lot more important than the sheer number and the absolute number that will be announced in terms of tax cuts for the u.s.. jean medecin, carmignac gestion. some of these stocks are on the move and aggressively toward the downside. we will discuss which disruptive sectors to invest in. this is bloomberg. ♪ matt: good morning. i'm matt miller in frankfurt. this is "bloomberg markets european open." 15 minutes and of the trading day, we are seeing european again. a little less in london. across the board on the continental indexes, you are seeing stocks rise. it looks like we do not have a global downturn in equities. it is not coming to today. as far as investors pulling the trigger on sales. guy: the day is still young. we will see what happens later when the u.s. kicks into gear. j
Bloomberg
Jan 17, 2017 2:30am EST
to pay significant legislation in the fiscal area, but if you go by the george w. bush administration or the ronald reagan a ministration, when they were trying to get significant legislation through, it takes nine to 10 months. nothing is going to happen overnight. and as you probably know, the presidents of the united states don't have as much impact on tax legislation is the congress does. so while the president would say, here is what i would like to do, the devil is in the details. it will take a long time before we know the fiscal changes are going to be. tom: the devil might be in the tweet. we will have to wait for what he says. mario greco, to get back to the finance part and what mr. rubenstein was speaking on, this idea of a changed template of regulation. do you look for the finance of 2017 that will be a difference in regulation for zurich? but will that difference be? >> the big issue we are facing is integration of capital rules. capital rules are very different in europe, u.s., and asia. we favor a standard decision of capital rules across the continent,
Bloomberg
Jun 20, 2017 2:30am EDT
george osborne just once. [laughter] philip hammond: the deficit is down by 3/4 and below 3% of gdp. while at the same time we have lowered income tax to 31 million people and taken 4 million out of income tax altogether through raising thresholds with more to come. lowest in is at its the u.k. for 30 years and the poorest households have seen their wages rise more since 2010 than in any other country in the g-7. thanks to the introduction of the national living wage, which is added to the annual income of those in full time work in minimum wage. a record of which we are proud. but that's probably enough of past achievements. i would rather we talk about the future. traveling the country during the general election campaign, i have had hundreds of conversations reflecting the challenges and the issues that people face in their daily lives. fears about job security, about wage levels, the need for good schools, a well functioning health service, decent care for elderly relatives, or access to the housing market. and it's clear, as many of my colleagues have noted, that britain is wea
Bloomberg
Dec 27, 2017 2:30am EST
to keep innovation flowing. it's the imagery of the brand. especially brands like george armani and l'oreal paris. it's beautiful imagery. chinese consumers are very sensitive to that. they like it. guy: the ceo of l'oreal speaking to francine lacqua. you can see that interview in atl tonight in new york 9:30. you can catch it in the u k and europe at 7:30 tomorrow night. let's look at china. james is back with us. we talked a little bit about the u.s. and its impact. we haven't talked about china. it's going to be one of the drivers in the story. the global ghost story. -- global growth story. what are your expectations? roughly more of the same. i don't think anyone is expecting a dramatic shift. whether or not that's a dramatic impetus, it's always difficult to tell. if you look at some of the underlying activity indicators, they do not track particularly well. it's a more volatile that. -- volatile path. we've had quite a lot of mixed messages. over the last three months, shall we say. we've been through the political event. leadership has come through intact. we startr whether
Bloomberg
Oct 5, 2017 2:30am EDT
in new york. also speaking today, george. you can watch both of those on live on your bloomberg. still with us, peter chatwell. he joins us from mizuho. how to you see it? think it is currently overpriced in terms of where he -- it is perceived of being in running. i remember him being particularly hawkish. made some mistakes. the main problem being grappled with on the fed up the moment. guy: nobody in the fed understand inflation. peter: are we likely to get someone who particularly misunderstood it? i see it as less likely, so i would see powell as more likely. i would see that yellen is probably viewed as being longer odds, less likely than she probably should be. also very interesting about this idea of being rolled -based becauseules they only work when you understand where these others ones are. mrs. powell iny, the blue. yellow and cohn on this chart here. are we looking at this the wrong way? should the starting point not be "is he a rate policy or is rate policy double hawk?" should we be starting from the point of "where do they stand on regulation?" yellen
Bloomberg
Feb 22, 2017 2:30am EST
more stability. it's u.s. president when he is elected is a case for -- was the case for george w. bush and obama and donald trump. they need to find a good [inaudible] we have a lot of investments. it is more important for the world only for total. >> have you changed your investment strategy in the u.s., when you look at trump, do you think you could be tougher you on climate change? how is he [inaudible] first policy is good for business. i am willing to come in and willing to develop gas. -- we are the number two, number three world's largest company in energy business. we are willing to develop it. we're willing to develop chemicals. we will announce soon new projects in [inaudible] so we will create jobs. [inaudible] in particular i hope the policy in favor of solar and renewables will be maintained. it is very poor. -- very good. manus: keen to build on the gas business. we will speak to another ceo, of the spanish power company. their results after the market open. i have the chairman and cofounder of metro bank. burn in hell joins me on the set. ceo joins me on the set. m
Bloomberg
Oct 24, 2016 2:30am EDT
billionaire investor george soros and john paulson are interested in investing as well as the kuwaitis according to italian press reports that. reports is it somewhat overly optimistic? montel: we are expecting this planeil some of later today. it will largely be in the details. one of the big questions is are they targeting this on a pretax or after-tax basis? oner-tax it only made billion euros once in their history. certainly, the plan gives them a couple years to get the house in , and try to get a lot of underperforming assets -- get rid of a lot of underperforming assets. can you do that without shrinking the revenue base too much? if that goes down much further it will be tough to see them get to one billion in profits absent some major cost-cutting. the show you what has been going on this morning, why were these guys be interested in investing every time you invest in an italian bank of this style you have been diluted and i did it again? -- and diluted again? what is soros seeing? michael: perhaps this is the last one. [laughter] people have been wrong before on that front. y
Bloomberg
Apr 19, 2017 2:30am EDT
and doubts about u.s. growth. bloomberg caught up with kansas city fed president esther george . we asked her about one of the big concerns for investors, which is the timeline of balance sheet shrinkage. >> all that happens in the context of how we see the economy unfolding, so we have not made a decision about when. as we continue this discussion, you will see the mets reflect where the committee is coming out. matt: still with us is the senior independent client advisor at nomura. bob, what you think about the sort of rethinking now of u.s. rate rises? previously, everyone would have said two to three left to come here. there is concern about whether they will be able to get two done or even one. bob: i think it comes down to the story around the trump reflation bet. clearly, we are not at 100 days yet, but the first two months of president trump's leadership have not really delivered. certain the on the fiscal, reflation front at all, and a think he got bumped down with other issues in the market's hand of voting on that. i think in the background, though, let us not forget that
Bloomberg
Nov 16, 2016 2:30am EST
. worked for ronald reagan and george h.w. bush. we stick withw these themes. coming up, a rough road aheadill. a trump presidency is going to provide a be right for stocks. that is next. the state-controlled lender sees third-quarter profits jump. we will bring you the stocks to watch at the open. the iea publishes its world energy outlook. we will bring you analysis with the chief energy analyst. this is bloomberg. ♪ guy: 15 minutes to the market open. 19% jump reporting and in third-quarter profit helped by matt interest income. eurose in at 607 million eating analyst estimates. the state-controlled dutch lender that return to the stock market last year said it would cut another 1500 jobs as part of a cost reduction plan. b.n.p. paribas u.s. business was the most profitable among european investment banks in the first nine months of the year. according to first-ever filings by the -- of the forms required. they made a pretax profit of $958 million on revenue of 3.8 $7 billion. credit suisse lost money in the states because of restructuring costs. snapchat's parent company has fil
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