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Jan 16, 2017
01/17
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what you expect that to do to the bank of england? one, becauseood the bank of england has to do a certain amount, and within the mandate they are given. i don't know whether we can looked the central bank as being mercurial -- and negative real yields are not just u.k. problem, look at them in germany. i don't think you have ever had such a large negative yield in germany. as a function of the elk were moving inflation. consumers and workers in the u.k. and germany are both suffering at the same time. i wouldn't put it down to just a problem of the bank of england or the u.k. guy: you will stay with us. plenty more still to come with stephen major. we'll get back to volatility. also coming up, donald trump slammed the eu and nato. are we in for a major shift in transatlantic relations? we will discuss that. and where is the u.s. heading in terms of its 10 year? we will talk about what that number will be. plus, we will talk about the strengths of the european economy with the bank to france governor. you will join us later in the pro
what you expect that to do to the bank of england? one, becauseood the bank of england has to do a certain amount, and within the mandate they are given. i don't know whether we can looked the central bank as being mercurial -- and negative real yields are not just u.k. problem, look at them in germany. i don't think you have ever had such a large negative yield in germany. as a function of the elk were moving inflation. consumers and workers in the u.k. and germany are both suffering at the...
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Jan 11, 2017
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and the bank of england governor mark carney will the quiz by mp's. then we have the news conference with donald trump. this is bloomberg. ♪ anna: welcome back. this is "bloomberg daybreak: europe." the dollar a little stronger against again. .99 on that particular currency market. 3:30 in the afternoon if you are in tokyo. that live shot of the imperial palace. the new edition of daybreak is available on your mobile and your bloomberg. let's look at the top stories that have made it into today's edition. the currency trade charged by the united states. three former employees were indicted for conspiring to fix the benchmark by sharing confidential customer information. they are all outside the u.s. and will have to be extradited unless they surrender voluntarily. the next story is mark carney in the firing line. the bank of england governor says parliament treasury -- he admitted policymakers were too pessimistic about the >> it induced slowdown. the central bank board has said it's worried about its reputation and lawmakers announced a review of t
and the bank of england governor mark carney will the quiz by mp's. then we have the news conference with donald trump. this is bloomberg. ♪ anna: welcome back. this is "bloomberg daybreak: europe." the dollar a little stronger against again. .99 on that particular currency market. 3:30 in the afternoon if you are in tokyo. that live shot of the imperial palace. the new edition of daybreak is available on your mobile and your bloomberg. let's look at the top stories that have made...
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Jan 31, 2017
01/17
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an update wednesday and the bank of england upgrade. guy: the elements here is that over the last five years we went through a deflationary concern that most markets work looking for potential might interest rates. now we are starting to see some sort of an inflection point where we move in the direction of travel for inflation expectation. increases in interest rates. that is why a think they are behind the curve and we should expect the policies being pushed forward. we should expect 3-4 rate hikes this year and maybe 4-5 next year. manus: the consequences of that on the u.s. treasury curve, that but by the end of this year it depends on how the dollar reacts and how the fed reacts. manus: there you go. is your business flash. we have juliette. take it away. juliette: thank you. pay 425 bank will million dollars to settle allegations by new york regulators that it helped wealthy russians laundered billions of dollars. the investigation relates to allegations that employees used trading scheme to help them of move $10 billion out of th
an update wednesday and the bank of england upgrade. guy: the elements here is that over the last five years we went through a deflationary concern that most markets work looking for potential might interest rates. now we are starting to see some sort of an inflection point where we move in the direction of travel for inflation expectation. increases in interest rates. that is why a think they are behind the curve and we should expect the policies being pushed forward. we should expect 3-4 rate...
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Jan 30, 2017
01/17
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the bank of japan, bank of england, a great deal of ego playing out. it, the no doubt about latest vote from trump has raised the risk off in the markets. anna: in terms of unpredictably the policy, yes. manus: yes. anna: the trade-offs they have had resulted in donald trump. dollar.d about the the dollar index drives the point home, don .2%. 80 week. banksd meeting, central meeting, corporate earnings out in the u.s.. reflecting japan and australia, much of the region is closed but there is a downward bias to equity market in region. that is even being driven or spilling into the business in u.s. features. gold, money going into 11.92. this is a pretty good at month or gold given the political distemper in the markets. all of the financials in asia coming under pressure. you have the rest coming from the corporate united states of america. they put the money where their mouth is? it is up to corporate america to make a firmer stand more than rhetoric. fortinet profit coming in at 26.7 to get young. 26.7 billiopn ye step up in the sure backn. program t
the bank of japan, bank of england, a great deal of ego playing out. it, the no doubt about latest vote from trump has raised the risk off in the markets. anna: in terms of unpredictably the policy, yes. manus: yes. anna: the trade-offs they have had resulted in donald trump. dollar.d about the the dollar index drives the point home, don .2%. 80 week. banksd meeting, central meeting, corporate earnings out in the u.s.. reflecting japan and australia, much of the region is closed but there is a...
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Jan 31, 2017
01/17
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we expect the bank of england will stop qe this week. bethe data continues to strong and inflation increases, a possibility of rate hikes later this year. if policy in the usa is supported -- overall, there are many offsetting forces, but i believe the transition period is extremely important because if you don't have the transition. , you have the hardest possible brexit. this is important. guy: plenty more to come. we need to talk about what is happening in europe. the other side of this when it comes to euro-sterling. german unemployment, we break down the data. spanish inflation coming through this morning at last 3%. we need to talk about all of this. as his bloomberg. ♪ matt: welcome back to the european market open. i'm matt miller, guy johnson is in london. the imf warned that debt is on an unsustainable path. we are joined from taken america merrill lynch. let me ask about the brewing story here in germany. davose both came from last week and he said, if the imf doesn't get with the program, maybe this program isn't sustainabl
we expect the bank of england will stop qe this week. bethe data continues to strong and inflation increases, a possibility of rate hikes later this year. if policy in the usa is supported -- overall, there are many offsetting forces, but i believe the transition period is extremely important because if you don't have the transition. , you have the hardest possible brexit. this is important. guy: plenty more to come. we need to talk about what is happening in europe. the other side of this when...
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Jan 12, 2017
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paul schmelzing is a visiting scholar at the bank of england, also at harvard. what does it mean for here? paul: if you look at 800 years of bond market history, when the yields are less than 140 basis , that marked the lowest rate ever in nearly 800 years for the risk-free rates. you have to go back to the times of the crusades to really find an equivalent cycle. the flipside of that, as you can imagine, is that the pressures are now very intense for that sort of market to reverse. i am talking about the perfect storm because we would see not inflation dynamics picking up, if you look at chinese ppr, if you look at german inflation coming u.s. wage growth, u.s. jobs report, we are talking japanese history, for instance, that seems to culminate to some extent, really come together at this point, and could intentionally create the perfect storm. francine: paul, when we talk about history, and you go back to the crusades to look at the risk-free rates, doesn't mean that we are actually measuring things wrong? models base is that our are wrong because we have never
paul schmelzing is a visiting scholar at the bank of england, also at harvard. what does it mean for here? paul: if you look at 800 years of bond market history, when the yields are less than 140 basis , that marked the lowest rate ever in nearly 800 years for the risk-free rates. you have to go back to the times of the crusades to really find an equivalent cycle. the flipside of that, as you can imagine, is that the pressures are now very intense for that sort of market to reverse. i am...
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Jan 9, 2017
01/17
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how much tolerance has the bank of england got for this? it is going to be inflationary and that will be a factor to think about vis-a-vis the mandate. >> that is the key question. that is when we will see the turn in the pound. at the moment, we are playing the theme of the hard brexit. at some point, the bank of england will be forced to hike rates to do with the inflation pound and that will close the negative real yield and support the currency. very much indeed. market is joining us from singapore about the pound and how it was trading overnight. we won't watch how the trading decks areding stacked. take a look at your bloomberg. another leg lower for sterling this morning. how much downside room to we have? sterling will be very volatile. you talked about parity. i think we are going to be buffeted about by political comment. is going to be a lot of that as we run up to march. matt: what do you think about the euro pound cross. when we talk about parity is that going to go beyond? >> not necessarily, no. but it is a difficult call on
how much tolerance has the bank of england got for this? it is going to be inflationary and that will be a factor to think about vis-a-vis the mandate. >> that is the key question. that is when we will see the turn in the pound. at the moment, we are playing the theme of the hard brexit. at some point, the bank of england will be forced to hike rates to do with the inflation pound and that will close the negative real yield and support the currency. very much indeed. market is joining us...
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Jan 22, 2017
01/17
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in new england that guy is good as well. you -- i don't know who has the best, i think they're all very solid. that's why with all these teams, there's very few holes you have so these games will be decided, probably the specialization, i always talk about, you know, winning the situational football. situational football is scoring touchdowns in a red zone, not being held to field goal. situational football is converting third downs to extend drives. situational footballs is the end of the half, the end of the game, not giving the ball back to one of these quarterbacks with too much time on the clock. so situational football to me will determine and define a lot of these game this is weekend. charlie: the game has become so specialized for me as a fan and spectator. there are people now who do nothing but brilliantly run back punts. bill: yes. we saw devin hester a week ago, almost make a difference for the seattle seahawks going against his ex-team atlanta. unfortunately a penalty wiped out a couple of those returns. there'
in new england that guy is good as well. you -- i don't know who has the best, i think they're all very solid. that's why with all these teams, there's very few holes you have so these games will be decided, probably the specialization, i always talk about, you know, winning the situational football. situational football is scoring touchdowns in a red zone, not being held to field goal. situational football is converting third downs to extend drives. situational footballs is the end of the...
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Jan 12, 2017
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what about the bank of england? mario draghie ecb, extending stimulus in terms of the timeline, kind of reducing it in terms of the quantity? is it possible we see a turnaround in the central bank policy here in europe? i think we hazard me seen some turnaround in expectations from a market perspective because of the bounce back that pointed to people they should not necessarily be thinking that the ecb will never be -- monetary policy from this setting. one of the interesting sort of conundrums of this year, if we are looking at the inflation data is it looks like germany is finally starting to see inflation amidst a very tight labor market. will that happen in the rest of the eurozone, which is much further behind in terms of unemployment output gap narrowing? inflation will likely pick up their much more slowly. what does that mean for central bank policy? to bully theanaged ecb into tightening monetary policy earlier than the periphery wants. that could create them her chin in terms of monetary policy there, but
what about the bank of england? mario draghie ecb, extending stimulus in terms of the timeline, kind of reducing it in terms of the quantity? is it possible we see a turnaround in the central bank policy here in europe? i think we hazard me seen some turnaround in expectations from a market perspective because of the bounce back that pointed to people they should not necessarily be thinking that the ecb will never be -- monetary policy from this setting. one of the interesting sort of...
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Jan 17, 2017
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manus: the bank of england governor says u.k. consumers will face fresh headwinds this year. >> we are in a situation right now where for understandable reasons business investment has been dampened by uncertainty, no t because -- there is access to finance, that there is uncertainty about what the relationship is going to be with our largest trading partner, and that is weighing on business investment. anna: and deutsche bank bonuses on hold. the lender may withhold 90% of cash incentive. francine: and live in doubt us, i am francine lacqua. xi jingping gets the spotlight in his first speech at the forum. the future of finance. the deutsche bank ceo joins our debate about the industry at 7:30 u.k. time. ins, we speak to the mlco his first interview of the day. ♪ manus: welcome to bloomberg daybreak: europe, our flight shape morning show on the slopes of devils. anna: let's welcome francine lacqua, at the world economic forum. francine, we have had a great first hour. what more have you got coming up? francine: we will be talki
manus: the bank of england governor says u.k. consumers will face fresh headwinds this year. >> we are in a situation right now where for understandable reasons business investment has been dampened by uncertainty, no t because -- there is access to finance, that there is uncertainty about what the relationship is going to be with our largest trading partner, and that is weighing on business investment. anna: and deutsche bank bonuses on hold. the lender may withhold 90% of cash...
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Jan 30, 2017
01/17
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the upcomingabout decision from the fed, the bank of england, and bank of japan. this is bloomberg. ♪ mark: live from london, i'm mark barton, just about 15 minutes away. vonnie: i am vonnie quinn. is -- it is a big week for central banks. thursday from the bank of england, joining us with what to watch is senior client fully a manager fixed income strategist at oppenheimer funds. is there likely to be too much change between now and the and of the week as to what those three major central banks are doing. >> i think there have been a couple of people who think that maybe we are nearing lift off as we get the fiscal stimulus packages. maybe the fed could go faster. and i think the ecb side could be interesting. -- startrt hitting at hinting at not a continuation, that can also be a big market mover. to the federals reserve, there is a big banner in the sense they have no idea what fiscal policy they are going to get. and it may not even happen until 2018. >> that is the reason why i think the federal reserve is going to air on the side of caution. i do think we
the upcomingabout decision from the fed, the bank of england, and bank of japan. this is bloomberg. ♪ mark: live from london, i'm mark barton, just about 15 minutes away. vonnie: i am vonnie quinn. is -- it is a big week for central banks. thursday from the bank of england, joining us with what to watch is senior client fully a manager fixed income strategist at oppenheimer funds. is there likely to be too much change between now and the and of the week as to what those three major central...
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Jan 5, 2017
01/17
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looking forward to a conversation with steve englander. china makes another big attempt to flush out -- francine: with more on china, let's get to hong kong. thank you for joining us. we have been talking about the china epic short squeeze. how do they resolve it? >> we have seen this script before. this happened last year when china came in hard. this is different. isis hard to say if china into -- there is a liquidity shortage. they are really tightening controls. yuan going want the into hong kong. it shows who is in control. chinese authorities are in control of the currency. francine: how much do they have longer-term? -- how much control do they have longer-term? >> they both came in to the market in hong kong and approved -- and improved communications. we are seeing something similar. they seem to be getting ahead of the curve. squeezing the short side of hong kong. break up the chart. -- bring up the chart. it is at 60%. the two spikes get your attention. ist really gets my attention the noise we have seen recently in that one day
looking forward to a conversation with steve englander. china makes another big attempt to flush out -- francine: with more on china, let's get to hong kong. thank you for joining us. we have been talking about the china epic short squeeze. how do they resolve it? >> we have seen this script before. this happened last year when china came in hard. this is different. isis hard to say if china into -- there is a liquidity shortage. they are really tightening controls. yuan going want the...
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Jan 12, 2017
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mark carney has launched a new defense of the bank of england. onon is still with us here "bloomberg daybreak: europe." upgrades.t be >> which is great. this will affect the pound. my guess is probably not actually. if you look at today's performance, this is something manus has talked about. over the course of the last 12 months, it's reflected the other comments that mark carney made a couple of months ago on the reliance of the kindness of strangers. manus: the market disagrees with mark carney. he warned that brexit is a danger to the eu transition and agreed the consequences would be great. this,estion of the day is is theresa may a one-woman wrecking ball on the currency? she speaks and it drops like a stone. given everything you know of history, is this building to a hard brexit? the reality is, looking at what is been said by theresa may so far, talking about where the red lines are. suggest remaining in the single market. then you have a waiting toward hard brexit and that's exactly what it is reflecting. if you want to look at the histo
mark carney has launched a new defense of the bank of england. onon is still with us here "bloomberg daybreak: europe." upgrades.t be >> which is great. this will affect the pound. my guess is probably not actually. if you look at today's performance, this is something manus has talked about. over the course of the last 12 months, it's reflected the other comments that mark carney made a couple of months ago on the reliance of the kindness of strangers. manus: the market...
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Jan 10, 2017
01/17
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we know that there is a bit of a diversions between fat and bank of england policy where we have the fed looking like it is very much ready to raise rates even more this year, meanwhile the bank of england is still very much in neutral mode. vonnie: what does that mean for companies planning forward, if the pound will continue to weaken, at some point, it may not be a boost. >> exactly, i think the truth will all come out in the earnings season that we are about to have. it really takes off in february and that is when big exporting companies listed on the ftse will tell us if the pound has really helped their bottom line and if it will help carry forward. there is only so much they can hedge and hopefully they can have -- be able to drop the , the lower pounds be through to higher revenues. mark: what are the signals telling us, traders do not seem to be loading up on options to project against the downside, what are the ruin showing? >> it is quite surprising that we had this tough market, a record, rsi over 70 which means that it should really turn lower but no one is really rushi
we know that there is a bit of a diversions between fat and bank of england policy where we have the fed looking like it is very much ready to raise rates even more this year, meanwhile the bank of england is still very much in neutral mode. vonnie: what does that mean for companies planning forward, if the pound will continue to weaken, at some point, it may not be a boost. >> exactly, i think the truth will all come out in the earnings season that we are about to have. it really takes...
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Jan 17, 2017
01/17
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one uncertainty was addressed by the bank of england governor regarding business investment. >> we are in a situation right now where, for understandable reasons, visit this -- business investment has been dampened by because, theret is access to finance that there is uncertainty about ultimately, what our relationship is going to be with our largest trading partner, and that is weighing on business investments. >> he touched on how the bank of england's outlook for 2017 depends on britain's new deal with the eu. we have seen volatility in the u.k. financial markets. the pound briefly dropped belowght below one cup -- 1:20. traders are bracing themselves for what may might deliver today. everybody will be looking forward to that. sophie, thanks for joining us. are talking about global risk on bloomberg television. thomas told us, they are not expecting a clash in europe. actually, the other way around way around.her >> we see growth rebounding in europe, and not only in europe, but in the u.k. confidence has been stronger than what we could've expected after the brexit vote. we are not
one uncertainty was addressed by the bank of england governor regarding business investment. >> we are in a situation right now where, for understandable reasons, visit this -- business investment has been dampened by because, theret is access to finance that there is uncertainty about ultimately, what our relationship is going to be with our largest trading partner, and that is weighing on business investments. >> he touched on how the bank of england's outlook for 2017 depends on...
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Jan 5, 2017
01/17
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they are growing wine in england now. give us a sense of whether we will see donald trump, who had so much talk of the resurgence of coal, is all that talk? can coal have any sort of resurgence? >> coal is more expensive than a number of other energy technologies. if you look at the economics of building a new plants now, solar is half the cost of coal. caroline: what intrigued me about the first chart, yes there is a plummeting in the cost of producing solar energy. wind looks pretty cost-effective too. wind and up being the most efficient. what happens perhaps when wind is not blowing the sun does not shine? >> the wind blows stronger during the night generally. solar obviously during the day. i think you will see both of them continue to expand. it is going to require all kinds of energy, because solar and wind do not always go. you're going to need some generation that is there when the wind does not blow. that is usually natural gas and nuclear. less so coal plants. caroline: so talking of nuclear, i was just coming
they are growing wine in england now. give us a sense of whether we will see donald trump, who had so much talk of the resurgence of coal, is all that talk? can coal have any sort of resurgence? >> coal is more expensive than a number of other energy technologies. if you look at the economics of building a new plants now, solar is half the cost of coal. caroline: what intrigued me about the first chart, yes there is a plummeting in the cost of producing solar energy. wind looks pretty...
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Jan 11, 2017
01/17
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maybe the bank of england is going to have to shift. people get brought back to earth with a reminder that this brexit is still real and we are heading for full brexit. until the tension is resolved, we're going to see this pattern play out again and again. thecine: we are expecting supreme court to rule on whether theresa may has to invoke article 50 through parliament. does that make a difference on anything? rupert: i think that judgment might be pushed back to the end of january. you had all the justices involved. it might take some time to coordinate. i think that is not the main thing to be watching. it is not a total distraction. they might put some constraints on how the government can go forward. ultimately article 50 is going to get triggered, i think on time, in march, and we need to focus on the realities of the negotiation. i think we will stay in the phony war period until after the elections. francine: what does it mean for the ftse? last time you went on, we decided to look at ftse in dollar terms. ftse minuswe did the t
maybe the bank of england is going to have to shift. people get brought back to earth with a reminder that this brexit is still real and we are heading for full brexit. until the tension is resolved, we're going to see this pattern play out again and again. thecine: we are expecting supreme court to rule on whether theresa may has to invoke article 50 through parliament. does that make a difference on anything? rupert: i think that judgment might be pushed back to the end of january. you had...
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Jan 18, 2017
01/17
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it is more complicated for the bank of england. looks like the hard brexit is coming regardless. yvonne: thanks, kathleen. plenty of comment on brexit at dev us. -- at davos. >> if you don't already have a , youean subsidiary bank really have to work out whether you will go to dublin or paris or frankfurt, then you have to plan for the worst and hope for the best. i think it is clear that the european relationship will be status quote minus. not as good as it was. i think they can negotiate many things, but it is important for britain to step aside and renegotiate with the rest of the world their relationships on trade and financial services. since the europeans are in an election, almost to the end of the year, it is probably good for britain to do it parallel but focus at the start for the end of the year on foreign relations. >> it with be devastating. -- it would be devastating. this is not about making forecasts that some frightening, this is all based on information bank -- based on the bank of england and very clear economic forecasts. ♪ ♪ >> taking a look at live pict
it is more complicated for the bank of england. looks like the hard brexit is coming regardless. yvonne: thanks, kathleen. plenty of comment on brexit at dev us. -- at davos. >> if you don't already have a , youean subsidiary bank really have to work out whether you will go to dublin or paris or frankfurt, then you have to plan for the worst and hope for the best. i think it is clear that the european relationship will be status quote minus. not as good as it was. i think they can...
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Jan 17, 2017
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what will bank of america do in england if that is the case? you have 5000 people there. >> it is still premature. from best i can tell, there is still a lot of water to go over the dam in terms of timing and transitions. we have to be prepared as if it is going to be hard and fast. erik: so what are you doing? >> you have to get your legal structure going so you can operate in two different environments. one inside the u.k. and one outside. we have that set up generally. you have to think about your locations. i think it is immature on the second. we are ready to operate as fast as possible. erik: i'm sure you have narrowed it down to a short list. what is on the short list on locations? i presume you have to look at frankfurt, dublin, harris. -- paris. >> we have people in all those locations. the question is what do you move, what does it look like. it is a complex thing. everybody think it is like you pick up a mobile home and move it across. these are real people's lives. locations, we are already looking into. erik: if the hardest brexit
what will bank of america do in england if that is the case? you have 5000 people there. >> it is still premature. from best i can tell, there is still a lot of water to go over the dam in terms of timing and transitions. we have to be prepared as if it is going to be hard and fast. erik: so what are you doing? >> you have to get your legal structure going so you can operate in two different environments. one inside the u.k. and one outside. we have that set up generally. you have...
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Jan 2, 2017
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khalaf: we are looking for property in england. we bought some property in england. we bought also a lot of pound. manus: you have bought a lot of sterling at this level. do you think sterling is going to go lower, and will you buy more? your building a warchest? khalaf: we brought property there now already, which is hilton wimbley. we are looking for other property as well. manus: will you be looking in central london? do youhink central london is good value? or do you think you should be looking elsewhere? khalaf: central london, nobody sells unfortunately because it is all packed, everybody is making money. manus: where are you looking? where are you looking in the u.k.? khalaf: maybe outskirts of london. yousef: khalaf al habtoor looking for post-brexit bargains in britain. still to come on the program, how the gulf is coming to terms with the u.s. rate rise. we will have that story for you. stay with us. this is bloomberg. ♪ ♪ yousef: the fed's decision to raise interest rates in december for only the second time in a decade signaled a steeper path for borr
khalaf: we are looking for property in england. we bought some property in england. we bought also a lot of pound. manus: you have bought a lot of sterling at this level. do you think sterling is going to go lower, and will you buy more? your building a warchest? khalaf: we brought property there now already, which is hilton wimbley. we are looking for other property as well. manus: will you be looking in central london? do youhink central london is good value? or do you think you should be...
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Jan 18, 2017
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we have the longest alliance in , it isld with england between portugal and england. we are going to keep working with england, working with the u.k., but we are, of course, aware of what instability this may bring to the european union and the world. >> what kind of instability? share it with me. guess: it is already in the markets, it is already showing. now it stabilize. i think there is a lot of things of what kind of brexit we're going to have. i think the speech yesterday clarified some of the things but there is still a long way to go. >> she outlined in very specific terms what she wanted, does that help, does her clarity on the type of withdrawal that britain is seeking good for the eu? guest: i think clarification is good and but we should be looking for is of a brexit that people,ew movement of few movement of goods to be a reality between the eu and the u.k. this does not affect open relation that the u.k. has to have with the european union and with portugal and particular. the prime minister tried to leave herself some negotiating room. in terms she did
we have the longest alliance in , it isld with england between portugal and england. we are going to keep working with england, working with the u.k., but we are, of course, aware of what instability this may bring to the european union and the world. >> what kind of instability? share it with me. guess: it is already in the markets, it is already showing. now it stabilize. i think there is a lot of things of what kind of brexit we're going to have. i think the speech yesterday clarified...
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Jan 27, 2017
01/17
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bank of england number two. i think the bank of japan this time around is number three on the list. vonnie: can i jump in and say turkey has been affirmed by s&p. s&p affirms the rating, but has revised the outlook two negative. that is a currency we have seen a lot of movement in. 3.90.ped we know we have a lot of central-bank action eventually, raising rates, for example, was one of the actions. richard: i think turkey has been very volatile. you want to talk about political volatility -- you had a lot of it in 2016 in turkey, which, of course, has driven that. i think there is a little bit of political pressure, or political dialogue between the government and the central bank in turkey. that has been a big mover, and it will continue to be a big mover. it is interesting news on the ratings agency. vonnie: s&p saying monetary policy and its response may prove insufficient and a revised to 2.4% from around 3.2%, so the outlook is a little grimmer there. think there are challenges there, and that is for sure. as interesting as 2016 what's in turkey, 2017 looks like it will be inter
bank of england number two. i think the bank of japan this time around is number three on the list. vonnie: can i jump in and say turkey has been affirmed by s&p. s&p affirms the rating, but has revised the outlook two negative. that is a currency we have seen a lot of movement in. 3.90.ped we know we have a lot of central-bank action eventually, raising rates, for example, was one of the actions. richard: i think turkey has been very volatile. you want to talk about political...
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Jan 1, 2017
01/17
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jonathan: the bank of england has cut rates to 0.25 and expanded q.e. by 60 billion pounds. they intend to buy corporate bonds. >> why was ere a need for the boe to overdeliver, because it ceainly brought out the sledgehammer. >> i think the economic outlook has deteriorated and a central case is that this could be a mild recession type of environment, so it makes sense to act as quickly as possible, and as they have done today, to overdeliver. jonathan: import cost jumping and that is the story in the data this morning. >> unsurprising in so many ways. that number up 4.3% and no surprise given what we have seen post the brexit and pound plummeting. >> so far this week, we have seen data on consumer prices and jobs, and today we got retail sales which surged 1.4% in july as british consumers seem to shrug off any brexit anxiety. >> there was the expectation it would be a poor week, it was thought generally that brexit was going to be bad. we see the pound going up. >> the u.k. pmi released, we have got a blockbuster number. we have gone from 47.4 from 52.9. >> i just don't k
jonathan: the bank of england has cut rates to 0.25 and expanded q.e. by 60 billion pounds. they intend to buy corporate bonds. >> why was ere a need for the boe to overdeliver, because it ceainly brought out the sledgehammer. >> i think the economic outlook has deteriorated and a central case is that this could be a mild recession type of environment, so it makes sense to act as quickly as possible, and as they have done today, to overdeliver. jonathan: import cost jumping and that...
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Jan 12, 2017
01/17
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the bank of england governor says the european union faces a greater threat to financial stability than the u.k. if brexit happens abruptly. mark carney made his strongest warning yet for a smooth transition. his warning echoes douglas flint, who earlier called for the two-year leaving period to be extended. boeing's biggest competitor itself in aommitted run-up to the inauguration. airs has a factory in alabama that employs over 1000 people. >> we have decided four years ago to invest in america not only because it is a big market for us, but this is the biggest place to be regarding aerospace. we create jobs. that, you don't know that we are probably procuring more u.s. equipments they are competitors. -- than our competitors. bloomberg. ♪ as you have been hearing, donald trump making the headlines. pointed words for china and senate confirmation hearings. rex tillerson once a stronger presence in asia, does he not? it seems to be putting it out anyway. >> it is not necessarily happening according to rex tillerson. he says the south china sea flashpoint, and china's moves on what ha
the bank of england governor says the european union faces a greater threat to financial stability than the u.k. if brexit happens abruptly. mark carney made his strongest warning yet for a smooth transition. his warning echoes douglas flint, who earlier called for the two-year leaving period to be extended. boeing's biggest competitor itself in aommitted run-up to the inauguration. airs has a factory in alabama that employs over 1000 people. >> we have decided four years ago to invest in...
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Jan 26, 2017
01/17
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targetingf england is inflation over three to four years. guidance after the brexit vote, stretching out the forward guidance into for the years. -- further years. we will have better clues as to what they are thinking is and what they're thinking is and when they can raise rates. with carl --t up what it means for the german bond market. >> real rates in germany at their lowest level ever right now. inflation in germany is spiking. not even moving in a linear fashion. you are seeing members of the ecb speak today about the fact that i think we will see inflation running much hotter than any of the central banks thought it would. therefore come i think the move in bonds is just beginning. jon: just the beginning. i wonder how long the ecb can leave that alone. according to president draghi, it cannot be transient, it has to be sustained and and has to be for the whole of the eurozone. we don't see inflation picking up in the way those comments adjusted. has gappede measure higher. they want inflation to be running at three to 4%. we are not
targetingf england is inflation over three to four years. guidance after the brexit vote, stretching out the forward guidance into for the years. -- further years. we will have better clues as to what they are thinking is and what they're thinking is and when they can raise rates. with carl --t up what it means for the german bond market. >> real rates in germany at their lowest level ever right now. inflation in germany is spiking. not even moving in a linear fashion. you are seeing...
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Jan 10, 2017
01/17
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let us take a look at how things are shaping up on the continent and england. the ftse gaining 0.2%. the outlier on the upside as the cac ises no move and the down. your supermarkets are helping the ftse for the second day in a row. guy: cannot argue with supermarket action. many argue england should be an island but in most people's minds it is still attached to scotland and wales and cornwall. let us talk of it about what is happening with the supermarkets. tesco doing well is when. it has done well on the back of morrison's numbers. the miners are also high is mine. angelo is trading high today. metro in your part of the world is fairly negative today. a tale of two retailers on either side of the english channel. he talked about another stock this morning and what is going on with the debt loading, a technology company. a stock merger to mention. this one. a portuguese bank. it is a rights issue. .94 of a euro. a story for portugal to keep an eye on. the european banking sector. sorry, that is not a one-day move but a move over the last few days. byt is the
let us take a look at how things are shaping up on the continent and england. the ftse gaining 0.2%. the outlier on the upside as the cac ises no move and the down. your supermarkets are helping the ftse for the second day in a row. guy: cannot argue with supermarket action. many argue england should be an island but in most people's minds it is still attached to scotland and wales and cornwall. let us talk of it about what is happening with the supermarkets. tesco doing well is when. it has...
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Jan 3, 2017
01/17
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surely the bank of england does not want it strengthening rapidly in the short run but one of the key arguments for the bears in sterling has been the week pound. improving dramatically as a result of the weaker pound and secondly, foreign investors in q1 inc. you three did not prefer u.k. assets. the odds of a recession, and this is for the u.k., the odds of a recession is the blue line has dropped nearly 50%. theof those doom mongers, odds of a recession has dropped like a stone. that runs in parallel with what you just said. stephen: in the u.k., certainly the uncertainty from brexit is weighing on growth potential and some of the uk's longer-term growth potential. but in a way that is more drastic than it was when we had the week productivity picture and not rights it. i am not so sure about that. manus: the tolerance level by the bank of england to look through inflation, what is there proclivity and tolerance level, what is the peak that carney will not grip the edge of the chair and 8 --we will have to raise rates? stephen: behind the scenes, they are ok with letting it run hot
surely the bank of england does not want it strengthening rapidly in the short run but one of the key arguments for the bears in sterling has been the week pound. improving dramatically as a result of the weaker pound and secondly, foreign investors in q1 inc. you three did not prefer u.k. assets. the odds of a recession, and this is for the u.k., the odds of a recession is the blue line has dropped nearly 50%. theof those doom mongers, odds of a recession has dropped like a stone. that runs in...
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Jan 3, 2017
01/17
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but i think 2017 isn't the year it moves in england. guy: ok, we will discuss that later. minutes away from the equity market open. up next, a close look at the movers on the first trading day of the year. eye on ryanair. the market open, nine minutes away. ♪ ♪ start of trading in 2017 in germany, six minutes away. 11,000, equity markets getting a solid bid on the back end of last year. to they continue in 2017? focusock in germany in could be bmw, also in that list. atth korea taking a look emissions and as a result, we are going to see halting of sales of some cars, bmw, porsche etc., watch the german car sector this morning. also, keep an eye on ryanair. trying to nail this one down, but there are talks of a downgrade out there. keep and i am that. we may see ryanair come under pressure via regulatory story. it looks like london will underperform today. we have the dax up around half of 1%. london only up 1/10 of a percent. here that you go to on your bloomberg terminal. equities don't perform this year? luke: reflation trade is right. barclays says it will be earni
but i think 2017 isn't the year it moves in england. guy: ok, we will discuss that later. minutes away from the equity market open. up next, a close look at the movers on the first trading day of the year. eye on ryanair. the market open, nine minutes away. ♪ ♪ start of trading in 2017 in germany, six minutes away. 11,000, equity markets getting a solid bid on the back end of last year. to they continue in 2017? focusock in germany in could be bmw, also in that list. atth korea taking a...
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Jan 24, 2017
01/17
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i like what stephen englander has said over at city. -- is losing using patience. donald trump moose the fx market to irrational fear -- from irrational fear to irrational exuberance. we are waiting for the supreme court ruling to come in. she is there. she is live outside the supreme court. it is anna edwards. good to see you this morning. this ruling. take me through what it means and the ramifications if the government loses. you very much. we will get to that during the program. we are here at the supreme court. the government will here today from this highest court in the country. rulingl remember that a in november said the government cannot trigger article 50 a loan. they have to take the houses of parliament with them. has the people in the house of commons and the house of lords been able to delay things. those people are not expecting this to stop breaks it but only slow it down and reshape it a little bit. 9:30 a.m. is when we will get the judgment today. we will cover all of that. here is shery ahn with the first word news. --ry: donald trump has told h
i like what stephen englander has said over at city. -- is losing using patience. donald trump moose the fx market to irrational fear -- from irrational fear to irrational exuberance. we are waiting for the supreme court ruling to come in. she is there. she is live outside the supreme court. it is anna edwards. good to see you this morning. this ruling. take me through what it means and the ramifications if the government loses. you very much. we will get to that during the program. we are here...
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Jan 2, 2017
01/17
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when i got to harvard, i'm sure that my roommates from the new england prep school community looked at me like i was from a foreign planet. and i could tell that look. i could tell they were looking at me like i was a different species. david: were you an athlete or a scholar? lloyd: a swimmer in high school. i went there and i wasn't going to be any good. david: did you not try out for the summing team? i've heard you say you were still swimming -- lloyd: i did. i did this longish race, and you are swimming. and these kids would be showered and back in class by the time i was finished. so i went from there to the boathouse. david: when did you decide you wanted to be a lawyer? lloyd: when i started harvard, i was 16. i was young. by the time i had sorted things out, i took science courses. it wasn't sure what i wanted to do. i was a good student that i wasn't that good of a student. i it dawned on me that at some point, i need to pay off student loans and earn a living. so i thought i would be professional and i applied for law school and i didn't take time off in between. david: you
when i got to harvard, i'm sure that my roommates from the new england prep school community looked at me like i was from a foreign planet. and i could tell that look. i could tell they were looking at me like i was a different species. david: were you an athlete or a scholar? lloyd: a swimmer in high school. i went there and i wasn't going to be any good. david: did you not try out for the summing team? i've heard you say you were still swimming -- lloyd: i did. i did this longish race, and...
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Jan 5, 2017
01/17
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the it lead the ecb and bank of england trailing? to a ceo in a bloomberg first interview. manus: inflation expectations. british businesses see no choice but to hike prices according to a chamber of commerce report. this is bloomberg. ♪ anna: it is 1:49 in the morning in new york. of theflat at the start u.s. equity trading day. the asian market broadly speaking a more positive one. the japanese market set up in underperforming, perhaps the big story overnight what's happening with the yen and the dollar and the chinese currency. 6:49 here in london. let's get to the bloomberg business flash. >> volkswagen has been told it installingines after devices in diesel vehicles used to cheat emission test. a san francisco federal judge rejected a request on claims against the former bw chairman who said investors in the american depository receipts could improve. he knew the of the country's diesel issue. a spokeswoman did not immediately respond to requests for comments on the ruling. deutsche bank is considering an unusual approach to giving relief to subprime mortgage borrowe
the it lead the ecb and bank of england trailing? to a ceo in a bloomberg first interview. manus: inflation expectations. british businesses see no choice but to hike prices according to a chamber of commerce report. this is bloomberg. ♪ anna: it is 1:49 in the morning in new york. of theflat at the start u.s. equity trading day. the asian market broadly speaking a more positive one. the japanese market set up in underperforming, perhaps the big story overnight what's happening with the yen...
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Jan 25, 2017
01/17
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that is the reason the bank of england acted. those were the days in 2008 that read that recession was coming. some of the things we have to remember is the bank actually acted and that lifted things a little bit. i think the great uncertainty is the -- a big deal. bi has itsmentioned own uncertainty index. it has been sloping down. you sat on the mpc. give me a sense of the kind of data points that you think the bank of england and carney are most focused on now. guest: their most focused on the qualitative data because it takes quite a long time. the reality is we did not have firm data. they went in in april 2008, we did not get from data saying that until june 2009. you have to look at multiple indicators. this is a huge shock that came. it takes a while to observe things. i think they did the right thing by acting in august. the question now is what is happening from here? i think they will be on hold. i think they will be for a mindful. firms are starting to get profit warnings. that will -- governmentas slowdown [inaudible
that is the reason the bank of england acted. those were the days in 2008 that read that recession was coming. some of the things we have to remember is the bank actually acted and that lifted things a little bit. i think the great uncertainty is the -- a big deal. bi has itsmentioned own uncertainty index. it has been sloping down. you sat on the mpc. give me a sense of the kind of data points that you think the bank of england and carney are most focused on now. guest: their most focused on...
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Jan 9, 2017
01/17
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we have already seen a lot of pressure, for instance, from theresa may on the central bank of england. we have also seen donald trump critique to federal reserve. the ecb also coming under a lot of criticism from the germans. all of that, from now on, is going to work to the advantage of gold. gold is going to reflect its increasing political -- politicization and it will help to support the price. stand high onl u.s. interest rates. that's what held it back on the fourth quarter. the expectation of more rate hikes. >> correct. so long as it's a gradual drift up in yields rather than a sharp spike, then yes, gold should be able to make progress in that sort of environment. vonnie: even if we get a new fed chair? even if we get a new fed chair, more reason to buy gold. if we get a new fed chair it's probably a symptom of the increasing politicization of the federal reserve, meaning that the goto asset class will be gold because investors simply won't trust the u.s. dollar if it is being more more closely politicized. mark: chris cycled into town and he told me they only do that when th
we have already seen a lot of pressure, for instance, from theresa may on the central bank of england. we have also seen donald trump critique to federal reserve. the ecb also coming under a lot of criticism from the germans. all of that, from now on, is going to work to the advantage of gold. gold is going to reflect its increasing political -- politicization and it will help to support the price. stand high onl u.s. interest rates. that's what held it back on the fourth quarter. the...
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Jan 11, 2017
01/17
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the bank of england government is set to appear before the lawmakers. we will discuss exit battle and rolling, coming up plus, the price tag accelerates. here the latest on a volkswagen's latest probe. a headwind for airbus? from the hq.s live that and more, right here on bloomberg. ♪ to thewelcome back european market open. i am manus cranny. matt miller is in frankfurt for us today at the goldman sachs strategy conference. it has just gone 12 minutes past the hour. a little bit later this morning. -- lighter this morning. i can tell you this. there is an interesting chart. the market has stocked up on options relative -- this is european trading complex. the stock options -- the market is beginning to build up for a bit of a downside correction or indeed is it just fine production that is flight medic at the moment -- phlegmatic at the moment? down 0.3%. some of the main movers, st. mary's topping the bill -- sain sbury's topping the billboard. a fairly, fairly tough opening this morning. down 18% on this stock as we see them. 2017 dividend policy s
the bank of england government is set to appear before the lawmakers. we will discuss exit battle and rolling, coming up plus, the price tag accelerates. here the latest on a volkswagen's latest probe. a headwind for airbus? from the hq.s live that and more, right here on bloomberg. ♪ to thewelcome back european market open. i am manus cranny. matt miller is in frankfurt for us today at the goldman sachs strategy conference. it has just gone 12 minutes past the hour. a little bit later this...
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Jan 14, 2017
01/17
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i cooked for everybody from the queen of england to all of the movie people to all the that would be the pope. presidents. i thought i never cooked for the pope, so that would be a challenge. haslinda: pope, if you were watching. what would the dish be? wolfgang: i think the pope is a very simple person. i would not make up something with truffles and caviar. i would make them maybe something my mother or grandmother made for me when i was a child. like we have an austrian ravioli. i know he is from argentina, they like pasta, we make it with potatoes and cheese and a little mint. ravioli. i know he is from argentina, and then just serve it with parmesan and butter. i think he would like that. haslinda: coming up -- wolfgang: i said, "johnny, what you going to do with the pizza?" "i'm going to put them in the freezer." "i'm not going to give them to you anymore if you treat them like that." ♪ haslinda: chef wolfgang puck, you have six cookbooks to your name. but the latest one is slightly different. it comes with not just recipes, but also exercise tips. why is it different? wolfga
i cooked for everybody from the queen of england to all of the movie people to all the that would be the pope. presidents. i thought i never cooked for the pope, so that would be a challenge. haslinda: pope, if you were watching. what would the dish be? wolfgang: i think the pope is a very simple person. i would not make up something with truffles and caviar. i would make them maybe something my mother or grandmother made for me when i was a child. like we have an austrian ravioli. i know he is...
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Jan 2, 2017
01/17
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francine: and you have not got any assurances from the bank of england or london in expectation that they have a transitionary phase they are planning for? douglas: nobody has clarified that, but at the same time, everybody recognizes the importance of making sure the arrangements on both sides of the equation are as smooth or customers as possible. it is not about the financial system, per se. we are a reflection of what is happening to our customers, so if our customers find things awkward and ugly, that will affect economic activity, which is not good for the economy. so, i think it is in everyone's interest to make it as smooth as possible, which i think is transition, as i said, i think is necessary. francine: what do you think the government need to do today? do they need to give assurances to you workers that they can stay in the u.k.? with that be the first of? douglas: i think that would be a good step, but all these things are known. at this point, it's a question of at what point you finalize your approach and negotiating position. all of the factors you want to take into
francine: and you have not got any assurances from the bank of england or london in expectation that they have a transitionary phase they are planning for? douglas: nobody has clarified that, but at the same time, everybody recognizes the importance of making sure the arrangements on both sides of the equation are as smooth or customers as possible. it is not about the financial system, per se. we are a reflection of what is happening to our customers, so if our customers find things awkward...
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Jan 17, 2017
01/17
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and england and other countries in europe. we need to be involved in the conversation about what are the policies going to be. we have to recognize that people want solutions that will protect them. at the same time that they want economic growth. those things can be resolved in a way that works for the u.s. economy. erik: you mentioned tax reform. your company and others in your industry have a high marginal tax rate. could that be hugely beneficial to you? arne: it depends on the way it develops. we have no tax benefits. we are not a real estate owner, so we don't have any depreciation associated with that. we're not investing in certain extractionneral to or other things where you get special rules. there is a possibility to get lower base rates. if we can get tax reform where money that is being kept offshore by american copies can come back to the u.s. and be returned to u.s. shareholders or entered into the u.s. economy, that would be good for the economy broadly, including us. erik: if the base corporate rate goes down
and england and other countries in europe. we need to be involved in the conversation about what are the policies going to be. we have to recognize that people want solutions that will protect them. at the same time that they want economic growth. those things can be resolved in a way that works for the u.s. economy. erik: you mentioned tax reform. your company and others in your industry have a high marginal tax rate. could that be hugely beneficial to you? arne: it depends on the way it...
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Jan 17, 2017
01/17
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going tohink france is get rid of having some of its major banks and england will have some of theirs. now as we get new financial service companies, companies that are not based in germany or france or england or the united states, will the regulators allow and will be politicians allow all the payment systems to be done out of india or china, companies that are not based in the major company where the services are thing provided? i don't know the answer to that, but it is an issue people will have to address. will american politicians be happy to have all the payment systems be run by companies that are based in china? i don't know. maybe they will, maybe they won't. something on the disruptive industry forin our example, we are testing extra systems to handle claims. this is completely changing the speed and quality of the claims processes and services to the customers. not adapt towill this, this will be disruptive. there will be no other choice than going that direction and investing and transforming. otherwise, in a couple of years, the company would be pushed out of the market.
going tohink france is get rid of having some of its major banks and england will have some of theirs. now as we get new financial service companies, companies that are not based in germany or france or england or the united states, will the regulators allow and will be politicians allow all the payment systems to be done out of india or china, companies that are not based in the major company where the services are thing provided? i don't know the answer to that, but it is an issue people will...
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Jan 30, 2017
01/17
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but at the same time we are not expecting to see any reaction from the bank of england. the reason is the rise in inflation is largely a consequence of all in sterling, leading to a squeeze in real wages, which causes the slow. it's that slowing that matters from the point of view of what you do with monetary policy. for the time being, it's going to be a continuation of very low interest rates throughout the course of the year. guy: i have of this screen here for the bloomberg. a lot ofs showing is a inflation data coming out of germany. f that number starts to get punchy, how big a problem does the ecb get? >> part of that is why the inflation is that much higher. we know one key reason is the fact that oil prices lifted over the course of the last few months, and that would lead to future inflationary pressures -- wages have not really picked up in any significant way. domestically generated inflation remains under control, and i suspect that the ecb will try to have a look at temporary increases. it turns out that inflation was a carry on rising through the year, you
but at the same time we are not expecting to see any reaction from the bank of england. the reason is the rise in inflation is largely a consequence of all in sterling, leading to a squeeze in real wages, which causes the slow. it's that slowing that matters from the point of view of what you do with monetary policy. for the time being, it's going to be a continuation of very low interest rates throughout the course of the year. guy: i have of this screen here for the bloomberg. a lot ofs...
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Jan 21, 2017
01/17
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when i get the harvard, circa 1971, i'm sure that my roommates from the new england prep school community looked at me like i was from some foreign planet. and i could tell that look. i was nuanced enough to tell the looking at me like i was a different species. david: were you an athlete or a scholar? lloyd: i was a swimmer in high school. i was never good enough for college. i went there and i wasn't going to be any good. david: did you not try out for the summing team? -- swimming team? i've heard you say you were still swimming -- lloyd: i did. i was not built for speed. i was built for endurance. i had this longish waist, and you are swimming. and these kids would be showered and back in class by the time i was finished. so i went from there to the boathouse. david: when did you decide you wanted to be a lawyer? lloyd: when i started harvard, i was 16. i third 17 when i was there. i was young. by the time i had sorted things out, i was premed for a while. i took science courses. it wasn't sure what i wanted to do. i toyed with the idea of being connected to make. but i was not that g
when i get the harvard, circa 1971, i'm sure that my roommates from the new england prep school community looked at me like i was from some foreign planet. and i could tell that look. i was nuanced enough to tell the looking at me like i was a different species. david: were you an athlete or a scholar? lloyd: i was a swimmer in high school. i was never good enough for college. i went there and i wasn't going to be any good. david: did you not try out for the summing team? -- swimming team? i've...
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Jan 3, 2017
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the bank of england said it will tolerate those kind of levels. if we see a significant move further down in sterling then you start to get to a point where you will see policy action. but i don't anticipate that. therefore i think they will sit on their hands as they have done most of the time since the financial crisis. mark: right up next after the year of the brexit vote and the italian referendum, no let up for the personal knowledge political risk. we'll look ahead to a string of crucial elections across europe in 2017. simon just talking about that lady. marine le pen just a few secondses ago. this is bloomberg. ♪ mark: welcome back. crude oil 18-month high. check it out. this is it right now. biggest annual gain last year of course since 2009. we have had output cuts by kuwait giving some indication that opec and other producing nations have started trimming production to stabilize the arket. $54.54. election risk in the future. marine le pen is committed to pulling france out of the euro. angela merkel said this year's election will be
the bank of england said it will tolerate those kind of levels. if we see a significant move further down in sterling then you start to get to a point where you will see policy action. but i don't anticipate that. therefore i think they will sit on their hands as they have done most of the time since the financial crisis. mark: right up next after the year of the brexit vote and the italian referendum, no let up for the personal knowledge political risk. we'll look ahead to a string of crucial...
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Jan 6, 2017
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don't disparage the new england patriots. terrible! francine: tom is not calling the shots, but david has to go. let's get straight to the bloomberg first word news. here is taylor riggs. taylor: president-elect donald trump meets today, but the targets of his recent witticism, the chiefs of the u.s. intelligence communities, will brief them on their findings about the russian computer hacking. , fbi,rectors of the cia and national intelligence will be at the meeting. top republicans in congress will not say whether americans could lose their insurance once they repeal and replace obamacare. budget officenal has estimated that doing so would strip insurance from about 90 million people. -- 19 million people. lawmakers urge the u.n. to repeal or amend its resolution, so it is no longer one-sided or anti-israel. the obama administration of stain from last month's vote, allowing the u.n. measure to pass. global news 24 hours per day, this is bloomberg. german elections form part of the european political risk this year. chancellor angela
don't disparage the new england patriots. terrible! francine: tom is not calling the shots, but david has to go. let's get straight to the bloomberg first word news. here is taylor riggs. taylor: president-elect donald trump meets today, but the targets of his recent witticism, the chiefs of the u.s. intelligence communities, will brief them on their findings about the russian computer hacking. , fbi,rectors of the cia and national intelligence will be at the meeting. top republicans in...