the dude who could be carter or to dinner sometimes i could use a swiss on this subject don't include the absolute perfect the minute you go to miter and see like democracy it would set up a financial support him and no one knows i'm on but the knowledge will not suddenly produce be colored boozer. comedy block long and pretty exact monem shoes put it to . a sudden increase in the price of oil weighed heavily on the world economy. it put the brakes on growth. production costs went up prices went up. inflation is skyrocketing. high inflation has a major drawback it impoverishes savers and investors since their money depreciates . for government inflation became a new enemy to be defeated at all cost. after removal going on would have wrestled a brief federal sat at all those are the federal reserve there is to slow yeah follow easy late class will this no see you for valley going to me community really classy going to the andris around you cause i said i used to our classic good stock of israel if i was eagleman and gone by gar on credit during the debate you feel silly it put you to s

much much bigger it goes right to the very top what he had was something that you never see is this swiss bank records of international cover payments going all over the world he showed me how be a set of a whole system with lloyds bank under which they channeled secret payments into a british virgin islands offshore company called red diamond from red diamond the money went into this guy's swiss bank account and he then used it to distribute to the local politicians taking a big check for himself of course you know i can assure you we don't we and i believe most companies all go to the business of late payments as you suggest a lot of sums up what they do employees of government it is just all the way business is done. we were actually able to publish what was the most dangerous story that prince bandar would be different not just the plane but over the years a total of one billion pounds we did not invent. corruption i mean i doubt many would have been and they had hanky panky and they had to go down to edit so i mean this is this is what made sure i salute the prince of state run and a

jordan is just saying cloud there are a few showers gallery in cyprus and they will probably head the swiss to the event for tuesday or wednesday it strikes the south that's rather a v. in peninsula this gray mass is cloud again i know you can't rule out to share it it doesn't look very significant to me your size sure i'm on we leave a dry picture behind and runs of the warm as well twenty eight in doha spread to cloud around in southern africa but it's not producing very much in the way of showers at the moment in the next couple days the clear blue skies passing rain might just touch cape time but mostly it's a long way knowles. the un's new human rights chief discusses her mission challenges and plans going forward. on that attack and and there's some pushback from human rights to. michelle talks to al-jazeera. the u.s. and china agree to impose new tariffs for now as they work to resolve their trade disputes. you're watching al-jazeera live from headquarters and. also ahead no agreement on climate change on the g. twenty with leaders facing resistance from the u.s. president. not backi

jordan is just saying cloud there are a few showers gallery in cyprus and they will probably head the swiss to the vent for tuesday or wednesday it strikes the south that's rather a v. in peninsula this gray mass is cloud again i know you can't rule out to share it it doesn't look very significant to me your size sure i'm on we leave a dry picture behind the warm as well twenty eight in doha. as for to cloud around in south africa don't produce agree much in the way it shows at the moment in the next couple days the clear blue sky passing right might just touch cape town but mostly it's a. basic what is your water boarding i said i think we absolutely need to push it out of reach of the. people in power investigates the private companies in the us towns allegedly complicit in the illegal use of torture under interrogation the sun rise once a day and sets not if you're in the hands of the cia you can make the sunshine or not rendition you visited part one on which is iraq. welcome back. a reminder of our top stories this hour the u.s. and china have agreed to deescalate their trade war presi

bank accounts by which be a was from owning money to the saudi royal family the swiss said we're going to notify the bank to tell holder's randell flew to london blasts one into action. he ordered the serious fraud office to close down their investigation. prince bandar said if the investigation continued they would withdraw national security cooperation which would lead in the words of prince bandar to blood on the streets of london. the story we've been banging away out for more than five years is something they really work up to it because everybody could see was a huge cover ups the spectacle of british prime minister closing bell of a criminal investigation for reasons were you aware that your government was approving pavements to a friend of president bush's as part of british aerospace is back system is that why you suspended a fraud inquiry. because when tony blair started talking about national security interests that supposed to be a card that trumps all of those i don't believe the investigation is that it would have led anywhere except to the complete wreckage of a vital st

and does not create any new human rights furthermore it says national sovereignty over migration is a swiss is the protected in the document so long as it complies with international law it's caviar just like that which have been pounced upon by europe's new nationalists with austria leading the way. research's points to a new generation of politicians across europe who understand that migration can sway elections it seems that migration is one of the on the remaining topics where somehow nation states are seeing how they can make a point of this this is the reason of control and sovereignty and certainly it's also related to more and more polarized public debate after austria followed hungary more felt like dominoes slovakia italy bug area czech republic poland and switzerland of all other withdrawn or suspended their participation why because according to one academic by starting from a pro migration stance the un compact underestimated and ignored the concerns of individual citizens there are no kind of conditions with the limits of migration right there is no kind of it it completely ig

easing father a swiss for iraq into iran what's the weather. weather a possibility of it's was that western side of the himalayas but lossie dry behind a fifty eight celsius in bag that's a study on the cold side some attempt to the two full pay rates on sas they often go on into us on the more the same they want to show as winter weather that just around the high ground. so when the weather that's pushing its way into northern areas off syria before central and eastern posse get the sunshine comes free they have twenty six ounces in karate not doing too badly will see that touches seem to temperature is too into what caused the u.a.e. twenty five degrees over the next possibility of a little cloud just around the gulf of aden just easing a little further west was over the mess that was the chance of one of two spots of rain i would have some rather lively showers longer spells of free pushing into the eastern side of south africa recently the showers looks set to continue further north that we further showers that into zimbabwe will show us to

the serious fraud office got to the brink of uncovering the secret swiss bank accounts by which be a was from owning money to the saudi royal family the swiss said we're going to notify the bank account holders randolph flew to london blair swung into action. he ordered the serious fraud office to close down their investigation. prince bandar said if the investigation continued they would withdraw a national security cooperation which would lead in the words of prince bandar to blood on the streets of london. the story we've been banging away out for more than five years they really work up to it because everybody could see was a huge cover up scandal the spectacle of a british prime minister closing bell of a criminal investigation. were you aware that your government was approving payments to a friend of president bush's as part of british aerospace is back system is that why you suspended a fraud inquiry. because when tony blair started talking about national security interests that supposed to be a card that trumps all of those i don't believe the investigation is that it would h

quests cases rather not because both verdicts are scheduled on the same day right scripts assists a swiss to condemn the latest verdict on russia which is final and actually cannot be challenged the amnesty international has said the verdict exposes bahrain's justice system as a complete farce and the bill son adam neville has tweeted several pictures this is one of those pictures there and this was another one that bill had also posted and what he adds is that he says that he has sent my father to prison for opposing yemen war and he's use the hashtag they're free as well and he's asking them to free his father other others have also been sharing this picture here it says it's a missed opportunity for bahrain to redeem its human rights records and the hashtag free months for their morality has been used to share their concerns about what they call the wrong full imprisonment of them razzi activists. and one person has tweeted and that kind of reflects a lot of the opinions as well that we've seen saying that if you are outraged about the sounds of genocide shocks you then you should be c

first service is currently taking place right now in kiev where the faithful are attending mass the swiss is seen by ukraine is being vital to it security and to its independence but it's strongly opposed by moscow. there's been growing anti russian sentiment in ukraine since russia annexed crimea in twenty fourteen the. zimbabwe's president has asked for more patience as he again promised to revive the economy embezzlement and gaga was addressing his rulings and m.p.'s members who endorsed him to run for another term a rumor tasa has more from southern zimbabwe. when ever some people see others lining up for something they join the queue just in case they find what they're looking for there is a shortage of cash in zimbabwe especially foreign currency. we need to lead others other countries the league goodness of. really need look at the rulings on e.p.a. party conference the economy and what to do about it was high on the agenda. was a president tried to reassure his party will turn things around we. all know. with regards to sit down. and we. to do our best. to interfered must be for.

and the other for the swiss management company. there was interest in the first advert from a tunisian journalist called my husband how more than. two other tunisians salim assad and salman million were recruited for the second company. on the twenty third of august the twenty sixteen salim is sat down and salman million two men in a hotel in the austrian capital vienna. v call themselves for to me dog from egypt and you hand from the netherlands. for this little mabyn hamouda arrived in vienna and met you han at the same hotel. he introduced her to for to me dog who was really salim but now called himself saleem was it american. the two men gave her more than a mission in tunisia she had to film interviews for a video of her company was making. the told her to focus on a tunisian man called mohammad is an expert in making it drones and. sure to hear a video of him with her there on. the investigation documents showed that the cell that a blonde is what is murder from a vienna and budapest avoided using a third shell methods of rec

police in morocco so they have arrested a swiss national in connection with the murder of two european tourist earlier this month. the two women we re earlier this month. the two women were found in an isolated sites south of the mountains in marrakesh. the man had also been charged with recruiting people to carry out isis attacks. 200 years ago, around a third of argentina's population were black, but today very few people admit to being of african descent. despite their huge and historical influence on society, black argentinians still face racial discrimination and are often treated as foreigners in their own country. our correspondent celestina olulode reports now from buenos aires. there's nothing more argentine than tango, but many are unaware its roots are african. for the afro—argentines whose families descended from the slave trade, they often feel like they've been written out of history, and invisible to their fellow argentines. mistaken as foreigners, these are the people who face racism today. translation: i belong to an ethnicity that has been systematically denied. it

andy swiss reports. some eight seasons after their last league title, could this once again be rangers‘ year? they had been resurgent under steven gerrard until a recent stumble, and, despite playing in orange, it was their opponents who looked brighter. liam craig should have put stjohnstone ahead and just before the break matty kennedy did, in some style too, to give the hosts the half—time advantage. rangers rung the changes and eventually they paid off. with less than half an hour left alfredo morelos ruthlessly levelled it up as the visitors chased a sorely needed victory. with st johnstone's keeper zander clark standing strong it seemed they would be frustrated. with just two minutes left rangers‘ persistence paid off. morelos with the clinical and potentially crucial winner. his side just a point behind leaders celtic, the title race is very much on. the actor michael sheen is helping to pay for security to protect the latest artwork by banksy, which has appeared on a garage wall in port tal

our sports correspondent andy swiss has more. it girls

police in morocco say they have arrested a swiss national in connection with the murder of two scandinavian tourists earlier this month. the two young women from denmark and norway were found dead at an isolated hiking spot in the mountains south of marrakesh. the arrested man is also suspected of recruiting moroccans to carry out terrorist attacks. a british couple whose son was murdered by his chinese wife have won custody of one of their grandchildren after a long legal battle. ian and linda simpson are due to return to the uk later this week, after reaching a deal during a court hearing over christmas in china, but they have been forced to leave their other grandchild behind. laura westbrook reports. eight—year—old jack and six—year—old alice have been at the centre of a long international custody battle. their british father, michael, seen here with them, was stabbed to death in his apartment in shanghai by his estranged chinese wife last year. weiwei fu is now serving a life sentence for murder. since their dad's death, jack and alice have been living with their chinese grandp

diplomats from the swiss, german, united states and british embassies tried to get into year the trial, but they were told it is not a public hearing. —— hear the tr. so they were not able to go in. and stephen, unfortunately in these trials, the verdict is often not in doubt, is it? i mean, we are trying to work out why all of a sudden there would be a trial. you know, in china they often heavily rely on people admitting their gills. so after three and a half years he is having his trial. he is accused of attempting to subvert state power, which can be a pretty broad thing in china. basically, anything that would threaten the communist party can be seen and interpreted in this way. so it could be quite a tough being for him to be defending himself against. of course, if he is found guilty of this, it could mean many years in prison. and stephen, this is part of a much wider crackdown on human rights activists, isn't it, and the people defending them? yeah, he was picked up three yea rs them? yeah, he was picked up three years ago at the same time that hundred of human rights lawye

police in morocco say they've arrested a swiss national — arrested a swiss national in connection with the murder of two scandinavian tourists earlier this month. the two young women — from denmark and norway — were found dead at an isolated hiking spot in the mountains south of marrakesh. the arrested man is also suspected of recruiting moroccans to carry out terrorist attacks. a british couple whose son was murdered by his chinese wife have won custody of one of their grandchildren after a long legal battle. ian and linda simpson are due to return to the uk later this week after reaching a deal during a court hearing over christmas in china. but they've been forced to leave their other grandchild behind. laura westbrook reports. eight—year—old jack and six—year—old alice have been at the centre of a long international custody battle. their british father, michael, seen here with them, was stabbed to death in his apartment in shanghai by his estranged chinese wife last year. weiwei fu is now serving a life sentence for murder. since their dad's death, jack and alice have b

andy swiss reports. he is one of english football's leading stars, but as raheem sterling went to retrieve the ball last night, this is what happened — verbal abuse, and from one spectator, allegedly racist abuse. with chelsea and the police already investigating, today, sterling has had his say. in a post on instagram, he said, "as you can see by my reaction, ijust had to laugh, because i don't expect no better," before claiming that some newspaper articles about players helped fuel racism and aggressive behaviour. he referred to a headline about his manchester city team—mate tosin adarabioyo buying a house, which he said painted the player in a bad light, while he said a similar story about a white team—mate, phil foden, was worded more positively. the daily mail group, who published the articles, are yet to respond to our request for comment. and now, sterling's treatment and comments have only intensified the focus. raheem sterling is no stranger to headlines criticising his lifestyle rather th

andy swiss reports. he is one of english football's leading stars, but as raheem sterling went to retrieve the ball last night, this is what happened — verbal abuse, and from one spectator allegedly racist abuse. with chelsea and the police already investigating, today sterling has had his say. in a message on instagram, he said, "as you can see by my reaction, ijust had to laugh, because i don't expect no better," before claiming that some newspaper articles about players helped fuel racism and aggressive behaviour. he referred to a headline about his manchester city team—mate tosin adarabioyo buying a house, which he said painted the player in a bad light, while he said a similar story about a white team—mate, phil foden, was worded more positively. the daily mail group, who published the articles, are yet to respond to our request for comment. well, here at manchester city, raheem sterling has become a rare talent for both club and country, but he himself is no stranger to headlines criticising

our sports correspondent andy swiss has this report on where things went wrong. the

the swiss cabinet will discuss the new deal that will see it many eu rules automatically applied to the country. nominations will be revealed for 84 categories of the grammys. the most procedures music awards in america. in washington later, several developments in robert mueller‘s probe into alleged collusion between the trump campaign and russia, among them the sentencing memo on michael cohen, trump's former lawyer who has already admitted to lying to congress. a rescue mission is underway to reach a 29—year—old british sailor whose boat was destroyed in a storm during a solo round the world yacht challenge. susie goodall is the youngest competitor and the only woman taking part in the thirty—thousand mile golden globe race. caroline rigby has more. injured and alone, thousands of miles from dry land, in some of the world ‘s most treacherous waters. the emergency calls susie goodall made after her boat flipped over. she was concussed, she was not sure how long she was out of it. she is badly bruised but she is ok. she had beenin badly bruised but she is ok. she had been in

andy swiss is outside old trafford. andy, who is in the frame then to potentially coming to replace him, because we know it is likely to be a ca reta ker because we know it is likely to be a caretaker manager that will come in first. that's right. they are hoping to make an appointment on that in the next 48 hours or so. lots of names being bandied around. one of theseis names being bandied around. one of these is 0le gunnar solskjaer, who was of course a famous name here as a player at manchester united. he famously scored the winning goal in the champions league final in 1999. 0le gunnar solskjaer is currently a manager in norway. would he be interested in coming to take over? perhaps on a caretaker basis? another name being talked about is a former player, laurent blanc, a former player, laurent blanc, a former french international player and also a former manager of the france national team. late yearfor a couple of years at old trafford and has plenty of experience. finally, of course, perhaps the biggest of the na

england's next opponents would be sweden after a slice of fortune against the swiss. chance to shoot! it's in! sweden ahead in this second round game! croatia—denmark provided plenty of drama. honestly. 1—1, it went to penalties, and the croats went through. russia didn't think they'd get this far. they went the distance against spain. more spot kicks. igor akinfeev, the host's hero. there was some party in moscow that night. neymar was in pain again, although he might have had a point this time. once more, he got his revenge. also set up another goalfor good measure. put in by firmino! it's two! they're through! mexico out. it would be belgium next for brazil, but they needed nacer chadli's 94th minute winner to end japan's brave resistance. it was over and out for ronaldo. his portugal beaten by a brace from uruguay‘s edinson cavani. and there was a cracker in kazan. what a strike! what a strike from angel di maria! pavard hits it! it's another glorious goal! seven goals. individual brilliance epitomized the france—argentina game, before teamwork won it. end

the troubled swiss asset manager sees a quarter of its value wiped out after it shocks investors with news of a record loss. and ge takes off after the stock's biggest bear jpmorgan has something prominent to say on this industrial giant. let's take a look at the markets. today to a certain extent balancing things out. we have seen a cat on qe. cap on qe. namesare some individual that are really worth focusing on. out of switzerland losing a quarter of its value today on another warning. it's not just what we thought was the problem. there are further problems emerging in one of the quant funds and that really is unnerving investors. tradings share price is higher today. the board is now saying that it will maintain him as chairman and ceo. it's going to be interesting to see how the relationship develops with nissan from here. here's taylor riggs. major averages were fluctuating between gains and losses. finding direction. the nasdaq and the stocks is outperforming. that is reversing. seeing a little bit of divergence between the dow and everything else. take a look at crude oil. psy

it in placesee like the euro swiss. the impact on brexit appears to be inching upward. it is less significant than italy has been. easy that percolating in the number of days -- different assets. i don't think it is truly significant. it will be with us in 2019. francine: think you so much. coming up on bloomberg mark gets, -- markets, in new york, 6:00. in london -- seeing volumes. we are seeing a little bit of a risk of food looking at dollars actually flipping a u.s. futures rising. i'm looking at gold climbing the treasuries. this is bloomberg. ♪ tom: new york city on this christmas eve. welcome you and hope you travel safely through the season. francine in london and i'm tom keene in new york. in most of europe, markets are closed. in america, we are open until p.m.p.m. equities, 2:00 bonds. it is an odd day. we are taking an advantage to step back with smart conversation. right now, with a news update, here is the vienna. viviana: -- here is viviana. viviana: steven mnuchin speaking to the six largest u.s. banks over the weekend as the white house moves to try t

the reason we get that 15% number four swiss watch exports, we still get 10 presented to hong kong. francine: when you look at trade itsions, we talk about impacting technology stocks. does it impact luxury? deborah: i think it is perceived to be so, so if you look at the half year and how strong luxury rallied in some of the , it is not actually so much the case because the biggest luxury brands had a huge fluctuation stored in key locations, mainland china and asia. inlook at what is happening terms of e-commerce, only 10% of the luxury market. a lot of that can be captured. then you think about the luxury goods, the biggest brands who have done the best, and they are produced in france, produced in italy. out ofo you have a case the u.s., even companies like michael kors, 65% of what they do is still within america. they are very much exposed in their own economy, so to speak. it is less exposed as compared to some other things. francine: thank you so much. patrick, think you so much for joining us as well. now, "bloomberg surveillance" continues. we will be talking to the chief

genoa is an important harbor for the north of italy and for the swiss and south of germany. tom: what do you need on tourism? you have got the harbor, what do you need for tourism in the northwest of italy? mayor bucci: the most important things we need is to re-create the confidence we had before. been growing 7% every year for the last five years and we need people to think genoa can be reached and -- mobility is not an issue and everybody can enjoy the city as before, better than before. you need more politics that are stable and do you believe that matteo salvini will break away from five-star? mayor bucci: i do not know. that is a politician issue. i am an administrator pruitt i need to think about -- i am an administrator. i need to think about the area. francine: we talk about the trade war. have you been affected by some of these trade tensions? mayor bucci: we are growing commerce right now. we are growing shipments. genoa is an entrance area for europe and the poor. , the most important corridor in europe is managing 55% of total growth in europe. we are in a growi

start with swiss watch. we had a 4% rise in november numbers. there we see double-digit growth coming out of china. we had 10% in hong kong, 15% in very, 18% in the u.s., so strong numbers from specific countries. closerond one would be to recent times, the start of december, on spend trends, 8% overall in those different categories. nejra: quite positive there, but how concerned are luxury brands about current trade tensions, and how they might play out in 2019? deborah: particularly in china-u.s.. nejra: yes. deborah: i think if we go through the luxury goods companies, they are very well spread. even the u.s. companies. think about michael kors, 64% of sales in america. there will be movement, there will be change. the numbers for chinese travelers in the u.s. in q3 is down 20%. but overall, they are well held. we have a lot of luxury goods brands out of france and italy. the swiss, free trade situation, so not really touched, so for us we are still very bullish. nejra: ok. what about any day? any -- m&a? any details in conversations being he

the troubled swiss asset manager sees a quarter of its value wiped out after it shocks investors with news of a record loss. and ge takes off after the stock's biggest bear jpmorgan has something prominent to say on this industrial giant. let's take a look at the markets. draghi to a certain extent

japanese yen and norwegian krona, and swiss bank, out performers. 2-10 spread continues to flatten. 19 basis points is how we print. good seven year auction after the sloppy five year and two year. tesla has named the board members that the sec said they must by the filing date. larry ellison and let me get this headline, she is the head of hr for headline, the head of hr for walgreens. ffat us for more is anne mo joining us from london. can you tell us how we got to these two names? >> it is exciting news for tesla. people have been asking for more accountability on the board and having these new directors is a big step. kathleen comes from walgreens. she had 17 years of experience at kellogg. she is an experienced corporate director. i think investors will be excited about that. she is a woman of color. she brings a lot of experience to the board. arry, some might consider him silicon valley insider, so i don't know if he will bring the same independence investors might have been looking for. he is a tesla shareholder. he certainly believes in the mission of the company. bring newat

swiss, norway, turkey. the ukraine is there as well. we also have the philippines. i was hearing in the break about that one. hike in first rate 2020. just a few weeks ago we were looking at it being in september. no interest rate moves are expected today. in the ukraine, 18% interest rates. in turkey, 24% at the moment. that is 2:00 p.m. ankara time, 11:00 a.m. u.k. this is the ecb market volatility. david: this shows you the number of months from the current time when the market is expecting the first rate hike. three months back, it was september of next year. right now that is well into the first quarter of next year. certainly german bonds of 27 basis points tell you that is not going to happen anytime soon. special coverage of the central bank policy decisions later today. that is the policy decision, 8:45 hong kong time. more importantly, it is when this man faces the media about an hour before markets open in the u.s.. rishaad: will he say, that is it, we are done with you we -- with qe? the current deposit rate is -.45%. the swiss national bank as well with

., the swiss franc could come under pressure. they have made it clear they are not moving interest rates. they have lowered their interest rate forecast. offersk the swiss franc value for the downside. tom: very good. kamal sharma with us from bank of america. to drive forward at this conversation, stanley , he weighs in tomorrow. this is "bloomberg." ♪ viviana: this is bloomberg surveillance. i'm viviana hurtado. standard chartered has a deal to separate its private equity unit and for bill winters to exit. the majority of its private equity portfolio will be transferred to london intermediate capital group. jaguar land rover is not commenting on a report it will cut thousands of jobs as part of based turnaround -- as part of a turnaround strategy. the carmaker will outline the measures next month. jaguar land rover is owned by india. asianors say of emerging stocks will be the best-performing asset class next year. that is according to a new poll from citigroup. citigroup says preference make sense if you anticipate a weaker

are restructuring unit was bigger than i swiss bank. -- a a swiss bank. they wanted to see it effectively prevented. we definitely underperformed. plan toa very ambitious grow, to cut costs at the same time. that was very ambitious. you get the europe factor. european.ing as we have to keep explaining switzerland is not in the eurozone. it is not affected by what is going on in europe. all that plays a factor. inwe deliver and 2019 -- 2019, potential to lead to a higher -- >> i have to cut you off because there has been a vote of no-confidence against theresa may. does that change her plans? >> -- your plans? only sensible thing to do. we are well versed in that respect. to spread our activity. frankfurt, paris, london, dublin. that is the sensible thing to do. a couple more questions on market volatility. now that you have done restructuring, how do you expect to grow the bank? asset sales? acquisitions? >> in 2015, we said global wealth will continue to grow. we have grown our revenue in line with that. that is going to continue. global markets would de

david: it is a merger of two swiss schools. imi and medb. they are specifically not attached to a university. they are a trade school. we will teach you the business, and you go forward. there are 8000 students that take their classes in any given year. it is huge. i had never heard of it. bythe list was dominated u.s. schools. there was another international school in paris that popped up to number one when you filter by which school sent people into the technology industry. that was ahead of m.i.t. that is interesting. america's great still in business school. nine out of 10. marriage inory, mumbai. withichest person in asia a 27 story house, this is a picture from their wedding. $100 million or more. $115 i heard it was million. what? david: i know somebody who was invited. he told me about it. he chartered 100 private planes to pick you up and take you there. they will go from place to place with the wedding. >> a fascinating detail, they have rented out five of the five star hotels in the city. that is how many people that have going. i

this is the swiss swedish engineering group. we did see some mining companies moving higher, which i find interesting. you cannot be too worried about global growth. just a moment ago we had another couple of mining companies in here as well. concerning as we head to the end of the year about the global growth story. let's get to vote retail story. it is emanating from the u.k. .ithout warning from asos certainly there were something to consider dreadful about the performance of stocks in the sector. so they are down by more than 30% out of the gate. a 10 m and spencer's, all of these retailers coming under pressure as a result of what we have heard. there seems to be brought her legs to this story around retail. let's get the bloomberg first word news update. annabelle joins us from hong kong. malaysia has filed charges against goldman sachs of what they said was false statements against one mdb bond sales. malaysia will seek fines it will in excess of both two .7 billion dollars of allegedly misappropriated funds. and the six

the swiss central bank also invest in stocks. the fed right now cannot buy stocks, it is prohibited is constitution. but think all of these things will be watched by policymakers next year. yvonne: you think the fed is this couldndent and be something systemic that would feed into the economy? jim: absolutely. companies will be concerned about how to make those decision. it deteriorating, it and stall those decisions it will impact jobs, construction, and consumption. we talked about animal spirits before. better to spend a billion dollars of with prices going up. yvonne: jim mccafferty will stay with us. you can also catch up with all our interviews by using our interactive function, tv . this is bloomberg. ♪ yvonne: a quick check of the latest business flash headlines. morgan stanley agreed to pay $10 million on allegations of fraud monitoring. regulatory authority says for more than five years the banks programey-laundering fell to a properly monitor tens of billions of dollars in transactions. morgan stanley nether -- n

lyft is working with jpmorgan, but it swiss, and another company for the offering. $18ations range from billion to $30 billion. in japan, softbank's ipo's telecom unit has been fully subscribed. underwriters were able to cover it yesterday thanks to strong demand from retail investors in japan and overseas buyers. cheers begin trading december 19. u.s. regulators will try to convince an appeals court that a lower federal's court was wrong warner dealand time goes rupee are they say at least a higher prices. at&t denies the accusations. that is your bloomberg business flash. alix: turning to wall street eat, three things wall street is talking about -- turning to wall street beat. 's family ties spirit we look at the rest of the ceo and look at the family. apollo warns of a credit bubble. says that could be a credit bubble. outrage was expressed over a outrage was expressed over a bloomberg article detailing wall street's handling of the #metoo movement. i do not know that word. it is i get five-syllable word. david: joining us now is lisa abramowicz. we want to talk about the daughter o

all you need to know, the dollar is up against the yen, but down against safe haven currencies like swiss and the japanese yen. cfo story and the arrest announced, actually arrested december 1, traders partly blame that for souring the mood, potentially on pace for the worst day in asian equity markets in about six weeks. manus: let's get straight to india. these markets are repricing growth. how is it playing out in the indian market? am: the rate change of the reserve bank of india has offered no respite to indian equities. at this point in time, they grind lower taking cues from global markets. the nifty and sensex down as much as 1%. wefar as the indian rupee, see the u.s. dollar strengthening against the indian rupee, around nearly the mark of 71. that could be another factor playing out against indian equity markets. tracy: thank you so much for that. let's go over to debra mao in hong kong with first word headlines around the world. debra: u.k. prime minister theresa may is considering a round of concessions to win over conservative rebels and save her sinking brexit deal. she held

today, everybody but the swiss franc up against the dollar. there's a drop-down menu here. if i look at this drop-down menu and i put up year-to-date, we can see what's happened to the dollar in 2018. and it's incredible to see almost everybody is down against the dollar with the exception of the yen. is that all about the fed hike story? kit: sort of. it's a fed hike story and u.s. growth surprises. i did a chart using the bloomberg, consensus expectations on growth versus the rest of the world and the u.s. 2020,verage 2018, 2019, put the dollar index against that, you get a nice fit. we revised growth forecast in other places. we revise growth forecasts up in the united states throughout the year. the u.s. economy has done better than people thought this year. that's the mistake people made. bond yields one up, the dollar went up until just this last bit of the year. matt: now we're in a position where the fed is getting more dovish, even if some think powell is hawkish in his last meeting i saying the balance sheet productions are on autopilot. seemsropean central bank i

full-year net loss of 925 million swiss francs. they are scrapping the dividend. , theis about rallying board decided to cut the size of the management or from nine to seven. they will be a full-year loss. whohas lost both their ceo will step down, being replaced by the interim ceo. this all goes back to one lines manager, tim hayward. looking at performance of the stock, down over 60% in terms of foul you. 32%rought it back down to over the month. that you're breaking news. juliette saly is in singapore. the second session of gains here in asia. yesterday we had that buoyancy coming through after the huawei ceo was granted bail. in canada it's about soy gain -- soybeans. up to 2mmitting to buy million tons of soybeans. hoping there can be a reprieve in the traits that. the nikkei higher by 1%, yen weakness pushing that index higher. the hang seng and csi 300 leading gains in the region. the csi 300 and china jumping the most in about a month. we've seen pretty good positivity coming through on number of emerging-market currencies

putting it together, we have the ecb coming up in a couple hours time we had a dovish swiss national bank we had speak to julianna about that we also had a dovish norges bank norges bank is the only european bank hiking. >> the result of the ballot held this evening is that the parliamentary party does have confidenc confidence >> well, theresa may has managed to fend off a conservative party leadership challenge surviving a vote of confidence by 200 votes to 117 sterling had been trading higher ahead of the ballot but later retreated as the number of tory mps voting against the british prime minister showed the daunting task of getting brexit through parliament. >> i'm pleased to have received the backing of my colleagues in tonight's ballot while i'm grateful for that support, a significant number of colleagues did cast a vote against me, and i've listened to what they said following this ballot we now need to get on with the job of delivering brexit for the british people and building a better future for this country >> a draft eu text seen by reuters warns european leaders will t

people are still getting into that safe haven flight to callical quality mode swiss frank a safe haven currency there let's move on when we talk about oil. oil also had a strong session yesterday in u.s. time staging a recovery of 10% at one point this is the biggest one-day jump in a couple of years time. putting it all into context. context is everything. energy is still down about 40% from where we were back in october. yes, a big one-day recovery in oil, but that didn't last long either brent is trading down 2.4% wti down 2.21% as well. all eyes on how opec plus reacts come january of next year. let's look at u.s. futures they have really turned south. this after that bumper session we have been talking about the major indices up yesterday now the dow seen opening up 300 points weaker. nasdaq down 100 points or so looks like market sentiment is yet again nosediving for the worst. >> the u.s. retailers posted their best holiday season in six years with sales up more than 5% from 2017. that's according to a report by mastercard online sales in the states rose 19% from last year showi

around brexit, that's not the only event in focus next week we also have the ecb meeting on thursday the swiss central bank, joumanna bercetche's favorite week of the quarter. how important is what happens in the u.s. to what happens in europe and will europe take it cues from what happens with fed policy or will be more dependant on what happens domestically in europe and what the ecb is doing? >> the ecb will remain a key driver for markets in europe they will stop qe in december. they're not going away from the market they have reinvestments to pring ba bring back so the ecb does matter the ecb is about three, four years behind the fed they're facing a much more challenging backlog. q3 has been bad for european growth and macro and they will have to keep much more cautious stance than the federal reserve. if they're lucky they can hike once next year, if at all. this would make you think bunds are going to be well supported however in the short-term bunds are looking very much at the other side of the pond, at what happens to treasuries. a 25 basis point yield in ten years, we argue there's

book business this move comes as swiss re-eyes a possible ipo of the closed book business. >>> moving on to societe generale it will improve the rh owe by 8 basis points the transaction will have a negative impact of 108 million euros on fourth quarter earnings saudi finance minister says he is comfortable about the impact of lower prices on the country's spending plan for next year. in an interview with reuters, al jajon says the government hopes to change the budget deficit by 2023 but added the target is not set in stone earlier this week, that includes that 7% jump let's have a quick check with oil brent is trading down over 3%, giving back all of the gains we saw yesterday. and this is on the back of a combination of heightened oversupply concerns, paired with global growth concerns on the back of yesterday's fed meeting that sent a ripple across markets on the negative side now falling oil and jet fuel prices may have been a tail wind for the aerospace industry it's been a turbulent year for the sector cobalt and and premera were two that were a bust that's according to aviation

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