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Jan 26, 2017
01/17
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that is a no-brainer trade in europe. in qe, we think the tapering starts at january 20 18th. -- january of 2018. popping? asre you well? >> they could push equities relative to bonds. manus: you are always a great litmus test for the etf flows, in terms of the american investor into europe. america might be ringing the dow bell, but you are bringing the european bell. >> there is risk everywhere, but it is a good deal. manus: is there flow to be had? >> last year there was a great divide between etf flows into europe and the euros. the prior year, they were almost equal. in 2016, u.s. investors were selling european etf 10 months in a row. in the last month, u.s. investors start to purchase european etf. it looks to me the are ready to come back in. there is still political risk. we have to get through france and we have a dutch election. we are starting to see profit growth. they are starting to nibble. manus: thank you very much for coming in this morning and putting this in context, kar en olney. there are some big st
that is a no-brainer trade in europe. in qe, we think the tapering starts at january 20 18th. -- january of 2018. popping? asre you well? >> they could push equities relative to bonds. manus: you are always a great litmus test for the etf flows, in terms of the american investor into europe. america might be ringing the dow bell, but you are bringing the european bell. >> there is risk everywhere, but it is a good deal. manus: is there flow to be had? >> last year there was a...
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Jan 25, 2017
01/17
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clear that europe is doing just fine. -- different santander entities, it is clear europe is doing just fine. we have good growth, and the internal devaluation in europe over the last five years has been massively constructive to the for the growth. ande can keep it intact opted to much volatility, we are in for a couple of years were europe's growth will -- where europe's growth will catch up. it will come from a broad european delivery of growth, not just from the core europe we have seen in the past. a much better mix of will go to the bottom line of the x-italy, and pl, that should come down dramatically in this environment. guy: qe was changed in the eurozone, if it was, would it have an impact? steen: i think the fundamental story is the internal devaluation, not having the ability to use a weaker euro. we have seen massive improvement on the unit labor cost in places europeanugal and countries. they are becoming massively competitive, even with germany. the biggest story for europe, coming postelection, is the fact that germany will need to reduce in trade andboth vice versa, bec
clear that europe is doing just fine. -- different santander entities, it is clear europe is doing just fine. we have good growth, and the internal devaluation in europe over the last five years has been massively constructive to the for the growth. ande can keep it intact opted to much volatility, we are in for a couple of years were europe's growth will -- where europe's growth will catch up. it will come from a broad european delivery of growth, not just from the core europe we have seen in...
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Jan 9, 2017
01/17
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europe, as you say, old, not dying, not that bad, but what are the implications for europe as we look at 2017? 13%average estimate is a profit growth this year. the worlduest saying is brighter. do you share that? mini boom is at all wrong. everyone is going at the right pace, regions ticking along nicely. europe is having a recovery from a challenging time. dividend,the trunk let's see how long it lasts. the euro is weaker against the dollar, a good tailwind. it will help earnings. the pm eyes have turned around -- pmi's are higher than they were. is that a consensus? no. , policy could change all that in 2017. , marine le coalition pen cannot get in mathematically. noise, but howof much is tangible, i don't know. anna: thank you very much. pete stays with us. manus: carmakers gather in detroit for the annual auto show. ceo,ll speak to one rolls-royce. this is bloomberg. ♪ manus: how weak will the yuan get? the offshore continues its held above $3 trillion. anna: monetary policy would be tighter. u.k. prime minister theresa may signals control over immigration is her top priority.
europe, as you say, old, not dying, not that bad, but what are the implications for europe as we look at 2017? 13%average estimate is a profit growth this year. the worlduest saying is brighter. do you share that? mini boom is at all wrong. everyone is going at the right pace, regions ticking along nicely. europe is having a recovery from a challenging time. dividend,the trunk let's see how long it lasts. the euro is weaker against the dollar, a good tailwind. it will help earnings. the pm eyes...
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Jan 25, 2017
01/17
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and europe, as we look out. the chart for the fourth quarter, are you over the fines now in the u.k.? ana: not a final paper on that, but we do not expect that. francine: we talked a lot to ceos in davos, and a lot of them are saying big u.k. banks are moving operations in frankfurt. do you have a sense that a lot of these bankers could move talent to madrid? it is a financial center. ana: of course, if anybody is going to move from london, we want madrid. we have great people, great and the structure. i think it would be a great place. hobbit,on is still the the talent. it has critical mass. markets are there. i think london will remain the most important center in europe. francine: mark, that was the executive chair of santander, ana botin. we also talked about trump and protectionism. after having to lower their contents in 2018, the future looks a lot brighter for santander today. it does, reflected in the shares, up 5.2% today, the highest since december 8. back to our bloomberg business flash. 2017the mark
and europe, as we look out. the chart for the fourth quarter, are you over the fines now in the u.k.? ana: not a final paper on that, but we do not expect that. francine: we talked a lot to ceos in davos, and a lot of them are saying big u.k. banks are moving operations in frankfurt. do you have a sense that a lot of these bankers could move talent to madrid? it is a financial center. ana: of course, if anybody is going to move from london, we want madrid. we have great people, great and the...
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Jan 2, 2017
01/17
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francine: that was just the initial moment of europe's new reality. later in the program, we will look at how the brexit story has played out since, both economically and politically. in the year when uncertainty was the dominant theme, we will retrace the roller coaster fortunes of the oil market and look at volatility and instability in turkey. but coming up next, 2016 battered many european banks. our review continues. this is bloomberg. ♪ francine: italian officials confirmed having agreed to create a fund to support the banks, and it is hoped to tackle 360 billion euros in bad debt italian banks are carrying. >> it is going to address the two fundamental issues hitting the italian banking system right now. the need by some banks to raise capital and to try to reduce the level of nonperforming loans. alix: italy said to consider capital injection in monte paschi. italy wants to save the banks , and the e.u. has ruled you may not be able to do that. put funds into monte paschi. the banks have found themselves in a position where they're not able
francine: that was just the initial moment of europe's new reality. later in the program, we will look at how the brexit story has played out since, both economically and politically. in the year when uncertainty was the dominant theme, we will retrace the roller coaster fortunes of the oil market and look at volatility and instability in turkey. but coming up next, 2016 battered many european banks. our review continues. this is bloomberg. ♪ francine: italian officials confirmed having...
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Jan 19, 2017
01/17
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, but beyond europe too. plan ihe heart of the set out earlier this week is a determination to pursue a bold and ambitious free trade agreement between the u.k. and the european union. but more than that, we seek the freedom to strike new trade deals with old friends and new allies right around the world as well. that we've already started discussions on future trade ties with countries like australia, new zealand, and includingle countries china, brazil, and the gulf states have expressed their interest in striking trade deals with us. it is about embracing genuine free trade, because that is the basis of our prosperity, but also the best way to cement the multilateral or ships and cooperation that help to build a better world. the challenges we face, like terrorism, climate change, and modern slavery, don't stop at national borders. nor do they stop at the borders of continents. the challenges and opportunities before us require us to look outwards in a spirit of cooperation and partnership. that is why, as
, but beyond europe too. plan ihe heart of the set out earlier this week is a determination to pursue a bold and ambitious free trade agreement between the u.k. and the european union. but more than that, we seek the freedom to strike new trade deals with old friends and new allies right around the world as well. that we've already started discussions on future trade ties with countries like australia, new zealand, and includingle countries china, brazil, and the gulf states have expressed...
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Jan 23, 2017
01/17
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neil: i think people underestimate the desire of many politicians in europe to remain in europe. the pention is whether has the same political dna that maybe every other politician you and i have ever had analyze has had. foron still want something guy: france. hold the french politics, we will talk about that. how much positioning inside the boat at the moment is inside this trade? neil: i think the default for the big insurance companies enjoy the bund. it doesn't matter what it is priced at, they don't manage it in that way. with the cash they see coming in the in there businesses they would not be buying the bund they would be looking to make more risk and return. guy: we will get into the french story next. stay with us. france's presidential primary takes the first round of voting. leftistt voters any policy. certainly fits with france. globe.g the opec and other nations struck a deal about output cuts and exit wounds. steady decline in u.k. wages over the next 20 years. on that interview later in this program. this is bloombeg. ♪ guy: welcome back to the european open. 1
neil: i think people underestimate the desire of many politicians in europe to remain in europe. the pention is whether has the same political dna that maybe every other politician you and i have ever had analyze has had. foron still want something guy: france. hold the french politics, we will talk about that. how much positioning inside the boat at the moment is inside this trade? neil: i think the default for the big insurance companies enjoy the bund. it doesn't matter what it is priced at,...
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Jan 2, 2017
01/17
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francine: you were mentioning europe and the fact you are more concerned about the economies of europe. is there anything politicians can do to stave off -- i don't know if you want to call it a wave of populism or being more in touch with the voter anger, let's call it that. douglas: obviously, i'm not a olitician or social scientist, reward for their savings. so, you can argue both sides, and economists do. francine: you were mentioning europe and the fact you are more concerned about the economies of urope. is there anything politicians can do to stave off -- i don't know if you want to call it a wave of populism or being more in touch with the voter anger, let's call it that. douglas: obviously, i'm not a politician or social scientist, but it does seem to me that people react badly to uncertainty in their own osition. you know, they want to believe that the future will give them more opportunities to be able to do more for their families. their kids will have a better than they have had, and so on, nd so forth. and i think that means giving some confidence to populations about the
francine: you were mentioning europe and the fact you are more concerned about the economies of europe. is there anything politicians can do to stave off -- i don't know if you want to call it a wave of populism or being more in touch with the voter anger, let's call it that. douglas: obviously, i'm not a olitician or social scientist, reward for their savings. so, you can argue both sides, and economists do. francine: you were mentioning europe and the fact you are more concerned about the...
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Jan 24, 2017
01/17
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within terms of europe, that broad brush of buying europe, of course typically what happens, when you have long periods of negative sentiment toward a particular region, you get all companies being tarnished. if you start looking amongst the european companies that are there, you can pick out -- from a bottom up approach, you can pick out the winners, which are still trading at attractive valuations compared to their peers. matt: can you look at central-bank policy and say may be draghi is the most dovish, and that will support european equities more than you will see the bank of england with the fed supporting equities in each of their respective countries? guest said the european central bank has a scorched-earth policy when it comes to monetary policy. >> yeah. i think that's correct. certainly with the ecb, for the time being, we have their support. but this is not the reason why i would recommend europe over large-cap u.s. it is more to do a simple valuation. as the year goes on we will see increasing pressure from particularly germany for the ecb to start drawing to a close. as
within terms of europe, that broad brush of buying europe, of course typically what happens, when you have long periods of negative sentiment toward a particular region, you get all companies being tarnished. if you start looking amongst the european companies that are there, you can pick out -- from a bottom up approach, you can pick out the winners, which are still trading at attractive valuations compared to their peers. matt: can you look at central-bank policy and say may be draghi is the...
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Jan 19, 2017
01/17
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in europe. it's always great to speak to you. thank you so much for joining us. when you look at brexit, and we spoken to a lot of bankers, what does brexit mean for you? have you seen an appetite for temporary staff? what does it mean for your company? level, is-- at this quite limited. is always somehow good for activity. inre we see the impact is the london area, and focused on the financial services for highly skilled people. will find out more when we speak to the prime minister later on, but does it mean you need to go out in the u k and actively look for people with british citizenship? will it change her model in the u.k.? difficult to figure out the details of all the measures that will be taken. some small activities will probably move back to europe. we saw the announcement of hsbc, but it is quite limited. do you think you would have gotten a better price if you had bought it a couple of months after the referendum? >> were very pleased with the acquisition. we have the recruitments
in europe. it's always great to speak to you. thank you so much for joining us. when you look at brexit, and we spoken to a lot of bankers, what does brexit mean for you? have you seen an appetite for temporary staff? what does it mean for your company? level, is-- at this quite limited. is always somehow good for activity. inre we see the impact is the london area, and focused on the financial services for highly skilled people. will find out more when we speak to the prime minister later on,...
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Jan 29, 2017
01/17
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are they shifting towards europe and china? you are profitable and europe for the first time last year. >> one of our objectives as a company is to get a better balance of profitability. as we get into 2017 we do expect that our profits are going to be continuing to be strong, but also at the same time in europe and china we will continue our positive performance. we do expect europe to be done a bit this year. that is based on the weakening of the sterling because of brexit. >> numbers out of ubs this morning. beating estimates because of a surgeon equity trading revenue. the u.s. wealth management business have a record period. ubs has seen improved investor confidence in the u.s. >> investor confidence is there. we are talking regularly the clients and we do see a readiness in planning for investments and not only financial markets, but the underlying businesses. it's quite clear investors are looking for concrete actions by the new u.s. administration before they go into investment mode. ♪ ♪ >> just digging into some bl
are they shifting towards europe and china? you are profitable and europe for the first time last year. >> one of our objectives as a company is to get a better balance of profitability. as we get into 2017 we do expect that our profits are going to be continuing to be strong, but also at the same time in europe and china we will continue our positive performance. we do expect europe to be done a bit this year. that is based on the weakening of the sterling because of brexit. >>...
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Jan 19, 2017
01/17
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lose and a lose for europe. francine: to protect london this is what you say you want privileged access to the eu single market. guest: london has been a city ,hich has attracted trade talent, and ideas for a thousand years. one of the joys and benefits is being a member of the single market. we will be leaving the single market. that will not necessarily mean we will have privileged access and it does not mean we will stop attracting talent. when it comes to negotiating we need to ensure we can secure privileged access to the single market and continue to attract talent. i am looking for business leaders across europe and the world to be my allies, to lobby their political leaders so when it comes to doing the deal with the u.k., the terms are good for the u.k. in london but europe and the world. francine: that would mean that financial services are the top in terms of the list when the prime minister goes to brussels and negotiates. it was not the impression we got earlier. in the attempts to keep the party to
lose and a lose for europe. francine: to protect london this is what you say you want privileged access to the eu single market. guest: london has been a city ,hich has attracted trade talent, and ideas for a thousand years. one of the joys and benefits is being a member of the single market. we will be leaving the single market. that will not necessarily mean we will have privileged access and it does not mean we will stop attracting talent. when it comes to negotiating we need to ensure we...
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Jan 30, 2017
01/17
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they recommend europe will rally in 2017. a weaker euro, stronger global demand and recovery in oil prices. the s&p 500 will deliver a 4% return. we talked about, speculate, what will it take for markets to recover? there is a great note talking about it. these moments are sharp, so use shock. deal with the reality. hock, absorb,-- s reality. three hours to recover. these are new missives coming, new invectives coming from the new president of the united states of america, so let us see how the world really reacts. industry may be using rhetoric to approach the president, but do they need to put their money where their mouth is? would you be prepared to move your business if you are not happy with the president, to make yourself at home in the united states of america? i'm off to digital radio. we are on the airways. nejra: it is indeed during my radio hour that i am poring through these analyst calls for the ugly market open, and here are the three stocks i selected today, all of them german. starting with list on the -- luf
they recommend europe will rally in 2017. a weaker euro, stronger global demand and recovery in oil prices. the s&p 500 will deliver a 4% return. we talked about, speculate, what will it take for markets to recover? there is a great note talking about it. these moments are sharp, so use shock. deal with the reality. hock, absorb,-- s reality. three hours to recover. these are new missives coming, new invectives coming from the new president of the united states of america, so let us see how...
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Jan 18, 2017
01/17
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>> let me remind that there is another problem in europe and the problem in europe is europe. the fact is that a specific manifestation of populism and this affection with the current state of it is europe. many european countries, there is a strong consensus to say that our problems are generated in brussels or frankfurt, depending on where you live. [laughter] pier: this is a problem because europe used to be the solution to many of the problems left out of the laggards in the european integration project, and now, this is being turned around completely, so europeans have an additional duty when they set out a policy, which is hopefully convincingly dealing with the issues, with sometimes, the right issues are raised by populism. they are not giving answers, but they are raising the right issues. this is one of the aspects. the other aspect is that, let's face it, anyone involved in policymaking those that -- knows we can design beautiful strategies and solutions, bringing in all the tools in the pot, and before these things generate visible benefits to the population, and t
>> let me remind that there is another problem in europe and the problem in europe is europe. the fact is that a specific manifestation of populism and this affection with the current state of it is europe. many european countries, there is a strong consensus to say that our problems are generated in brussels or frankfurt, depending on where you live. [laughter] pier: this is a problem because europe used to be the solution to many of the problems left out of the laggards in the european...
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Jan 3, 2017
01/17
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europe is expanding at the fastest pace since 2011. europe is at the highest in three years. concerned,hina is they still have a certain number of risks to deal with. one is the federal reserve and one is the triumphant donald trump. reserves, we will get that data on january 3. let us look at the risk radar. the china data is playing out across the spectrum. emerging markets. a nice rally there. longest winning streak in almost four months. .% on the msci em engaged again in terms of rate rises. gold is up by 0.9%. the world is not void of concerns. now, when it comes to oil, we are up 0.6%. in the headlines, kuwait has begun to deliver their cuts. who will come next and at what size and what shape? sinceggest yearly gain 2009. kuwait reduced production by 130 billion barrels. drillers are back. a couple of different things. china data. time, yout the same are seeing stop orders triggered. that is where the aussie comes into play. , roseprices, in australia the most in seven years. those are the challenges for the rba. house prices climbed 9.8%. those are your markets. back
europe is expanding at the fastest pace since 2011. europe is at the highest in three years. concerned,hina is they still have a certain number of risks to deal with. one is the federal reserve and one is the triumphant donald trump. reserves, we will get that data on january 3. let us look at the risk radar. the china data is playing out across the spectrum. emerging markets. a nice rally there. longest winning streak in almost four months. .% on the msci em engaged again in terms of rate...
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Jan 19, 2017
01/17
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but also across europe. joe: that was james gorman, and the morgan stanley ceo, with bloomberg's erik schatzker in davos. scarlet: it is time for the bloomberg business flash. american express says fourth-quarter profits fell more than 8%, as expenses topped analysts' estimates. eps came in a $.88, $.11 short of projections. amex is spending more to recover from the loss of its largest costco. partner, and we have some breaking news. this is president-elect donald trump making an appearance at the lincoln memorial, where there's already a concert underway. he is with soon-to-be first lady melania, his wife. music earlier at the lincoln memorial, a concert. all part of the inauguration festivities. it will become official around noon tomorrow. scarlet: president-elect donald trump arriving at lincoln center, where they had already been holding a concert. beautiful day. joe: look at that sky. pretty impressive. scarlet: this is bloomberg. ♪ scarlet: tomorrow we will bring you more interviews from the world e
but also across europe. joe: that was james gorman, and the morgan stanley ceo, with bloomberg's erik schatzker in davos. scarlet: it is time for the bloomberg business flash. american express says fourth-quarter profits fell more than 8%, as expenses topped analysts' estimates. eps came in a $.88, $.11 short of projections. amex is spending more to recover from the loss of its largest costco. partner, and we have some breaking news. this is president-elect donald trump making an appearance at...
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Jan 3, 2017
01/17
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has returned and europe has not viewed that has been the missing ingredient -- europe has not. that has been the missing ingredient. we need to get over the -- and the french election is the big concern for international investors. all opinion polls tell you marine le pen should not win. people say, look at brexit and trump last year, so we cannot believe that. james, the zeitgeist over the weekend is on china, the challenges of a weaker renminbi. with that is the export of deflation. do you just assume a shift off of trump enthusiasm and disinflationk to and even a deflationary impulse? james: we are assuming this year you will get some pickup in inflation. i think the u.s. is running pretty much close to full employment, regardless of where you want to put it. .e have higher oil prices there are signs inflation -- wage inflation is picking up. or is a risk you get a disinflationary impulse out of key behind the direction for inflation is where is global growth going. you have a weaker renminbi and stronger pmi's overnight in china. our economists have been looking at the lead
has returned and europe has not viewed that has been the missing ingredient -- europe has not. that has been the missing ingredient. we need to get over the -- and the french election is the big concern for international investors. all opinion polls tell you marine le pen should not win. people say, look at brexit and trump last year, so we cannot believe that. james, the zeitgeist over the weekend is on china, the challenges of a weaker renminbi. with that is the export of deflation. do you...
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Jan 4, 2017
01/17
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and europe. ons is a wonderful chart china, wonderful chart on europe. this is tough, but, joe, i'm going to go with europe. mark, congratulations. happy new year. hour,an: coming up in an with so much more energy than he would have had otherwise. the world's biggest bond managers are all backing. ofspeak to mark keyes all pimco. the last time we spoke to him he was de-risking his portfolio and shifting to cash. this is bloomberg. ♪ jonathan: for our audience worldwide, a warm welcome on this wednesday, january 4. alix steel is off today. -- 30 minutes until the markets open. fromrday, 119 points away 20,000 not the close. switch up the board. the bond market looks like this. we are on target with the basis point. the dollar is weak or against every single currency with the euro at $1.04. toid: here's what you need know. the chinese wall for currency. the dollar continues to climb. europe looks up. economic data showing encouraging signs of growth raising questions as to whether the european ce
and europe. ons is a wonderful chart china, wonderful chart on europe. this is tough, but, joe, i'm going to go with europe. mark, congratulations. happy new year. hour,an: coming up in an with so much more energy than he would have had otherwise. the world's biggest bond managers are all backing. ofspeak to mark keyes all pimco. the last time we spoke to him he was de-risking his portfolio and shifting to cash. this is bloomberg. ♪ jonathan: for our audience worldwide, a warm welcome on this...
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Jan 16, 2017
01/17
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., but revisions and europe and japan. fundamentals stabilize for the first time in 4-5 years, so if the global fundamentals are allowed to us or themselves, i.e. the political noise does not dominate, we think it can be another decent your for equities returns. the bondwhat about market, is the bull market over in your view? the projections are ridiculously low. david: yes, we think the reflation that started is part of a bigger trend. consolidation with the yields having gone up too far too fast. we cannot tolerate significantly higher levels of interest rates, so i don't think we should celebrate yields rising quite as fast again this year as they did last them otherwise we may run into trouble. rishaad: thank you very much indeed. some breaking news, the chinese property developer down 9% in the session. the reason why, looking to diversify beyond real estate, looking at tech, farmer, finance, and resources deals. the developer taking a $2.2 billion bet on three technology companies. the chairman says the company views
., but revisions and europe and japan. fundamentals stabilize for the first time in 4-5 years, so if the global fundamentals are allowed to us or themselves, i.e. the political noise does not dominate, we think it can be another decent your for equities returns. the bondwhat about market, is the bull market over in your view? the projections are ridiculously low. david: yes, we think the reflation that started is part of a bigger trend. consolidation with the yields having gone up too far too...
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Jan 27, 2017
01/17
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this is a problem of europe. europe is too slow and too bureaucratic. peopleinister, some describe your party as a protest or popular party. have you been inspired by anything from donald trump? meno, he was inspired by because i was first. and our movement, we are not populist. we are problem-solving. and a common sense party. theso as minister, i have best budget in the history of our country. last year i had a surplus, i reduced that by 2.6 billion euro. debtse one of the lowest in europe. and i came from business and we have the results. i'm so sorry, we are up against a heartbreak. very good to speak to you. this is bloomberg. ♪ ♪ brews on thear border. the mexican president canceled his trip to washington after trump pledges to rewrite nafta and make mexico pay for the wall. a special relationship. may meets with trump in the first meeting between the u.s. president and a foreign leader. the u.k. prime minister hopes to lay groundwork for a post-brexit trade deal. to boj buys off more bonds keep yields low. the yen extends its just decline in
this is a problem of europe. europe is too slow and too bureaucratic. peopleinister, some describe your party as a protest or popular party. have you been inspired by anything from donald trump? meno, he was inspired by because i was first. and our movement, we are not populist. we are problem-solving. and a common sense party. theso as minister, i have best budget in the history of our country. last year i had a surplus, i reduced that by 2.6 billion euro. debtse one of the lowest in europe....
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Jan 4, 2017
01/17
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manus: where are you with your exposure to europe, taking more exposure to europe? the european stock market at 12%. we talked about the 20 15th high. do you believe the parity story? proxies?ll bond differs your perspective. ben: this is a policy agenda, especially the relative merits of the federal reserve. despite the inflationary pressures, the policy leads to risk-taking in europe. it is a daily politics show at the moment. there are big calendar events coming up in the european political scene next year. this has been a challenge in 2016. [laughter] willou believe that le pen lose and there is a fantastic liberalization program in france, that would be a fantastic story. these big stories surrounding the politics. i think we have written off the italian issues. combine that with relatively valued -- relatively attractive violations. how is politics influencing companies, like the u.s. and flexion auto companies -- how does that rub up against your investment strategy? are ahe small cap names related story. we are taking profits out of the caps into more of the
manus: where are you with your exposure to europe, taking more exposure to europe? the european stock market at 12%. we talked about the 20 15th high. do you believe the parity story? proxies?ll bond differs your perspective. ben: this is a policy agenda, especially the relative merits of the federal reserve. despite the inflationary pressures, the policy leads to risk-taking in europe. it is a daily politics show at the moment. there are big calendar events coming up in the european political...
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Jan 21, 2017
01/17
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that is a very complex thing. >> you have a very pessimistic view of europe? >> i do. unless they change. they will have to change to become more competitive. they are doing ok. say this out of respect for the european people, but they are going to have to change. he may be forced by politics were new leadership. we will have to see. more of the week's conversations from davos coming up. donald trump has been talking tough on china. to the world worry about a trade war? >> multiplying things that get said to create enormous anxiety is i think a little overdone. erik: this is bloomberg. ♪ ♪ erik: you are watching "bloomberg best." i'm erik schatzker. donald trump and not appear in davos this week, but is present was felt. here is a taste of the conversation about trump, starting with trump advisory who sold his stake in cyprus capital to join the white house, and came here to speak on behalf of of the administration. >> if there is one message you want to convey on behalf of the president-elect, this gathering right here, what is it? >> it is a basic message. the ad
that is a very complex thing. >> you have a very pessimistic view of europe? >> i do. unless they change. they will have to change to become more competitive. they are doing ok. say this out of respect for the european people, but they are going to have to change. he may be forced by politics were new leadership. we will have to see. more of the week's conversations from davos coming up. donald trump has been talking tough on china. to the world worry about a trade war? >>...
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Jan 12, 2017
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how strong is europe for you, when you look around the world, europe seems to be doing its own thing at the moment in terms of accelerating. agree with that to some extent. the european economy, there is some improvement. there will be significant critical risks. you have the french and journal -- german election and italy with potential early elections. and you have brexit. i would say the risk factors are pretty great. the risk factors are great and we talk about them often. we have seen 2016 was the year of unpredictable things happening. will 2017 more predictable, do you think? there is a lot of talk about what could happen in germany and france. in germany people worry but angela merkel will stay as chancellor probably. guest: i have to agree. of concerns, there is a lot distrust of polls. , it has taken away support from all the parties not just from merkel's party. it is still leaving the grand coalition as the most popular party. i still think they will come into power and stay in power. my greatest concern is france. i do not think the pen will win. but the risk, there is a
how strong is europe for you, when you look around the world, europe seems to be doing its own thing at the moment in terms of accelerating. agree with that to some extent. the european economy, there is some improvement. there will be significant critical risks. you have the french and journal -- german election and italy with potential early elections. and you have brexit. i would say the risk factors are pretty great. the risk factors are great and we talk about them often. we have seen 2016...
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Jan 20, 2017
01/17
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two world wars and a cold war ha ve taught all of us that -- within europe, -- stability in europe is important for the rest of the world. and second, we have to remember the only time that nato has invoked its collective defense after anrticle v, was attack on the united states. and hundreds of thousands of european soldiers have served in afghanistan in the operation which was a direct response on the attack on the united states. nato soldiers, nato allies i support coalition fighting isil. nato provides direct support and nato fights together with united states terrorism in many places in the world. so, this is also, a strong nato is important for the united states, and therefore, i believe the united states will remain committed to nato. francine: the u.k. has the biggest army in europe. it spends more on the military than anyone else. what challenges does its withdrawal from the e.u. pose? gen. sec. stoltenberg: brexit changes the uk's relationship to the european union but it does not at all change the u.k.'s relationship to noat. -- to nato. the u.k. will remain -- a staunch al
two world wars and a cold war ha ve taught all of us that -- within europe, -- stability in europe is important for the rest of the world. and second, we have to remember the only time that nato has invoked its collective defense after anrticle v, was attack on the united states. and hundreds of thousands of european soldiers have served in afghanistan in the operation which was a direct response on the attack on the united states. nato soldiers, nato allies i support coalition fighting isil....
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Jan 1, 2017
01/17
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let's talk about europe. the europeans seem to not like google as much as maybe because it is american company. have you resolved those issues? eric: we have not been able to resolve those issues that are broadly held in europe. we have more than 10,000 employees in europe and love europeans. they are incredibly smart, capable. many of the products you use in america were developed partially or completely in europe. thecore issue, i think, european governance model and with the universities are set up, venture capital is not yet set up right, not set up to build these global companies. they have every piece, every tool that they need. they have the people, the discipline, the educational system but they have not congealed it together. we have furthermore funded a number of innovation and banks also doing our own venture capita. we need europe to be more competitive against the american companies. david: one of the effects of building a successful company is that you have made a fair a lot -- fair amount of mo
let's talk about europe. the europeans seem to not like google as much as maybe because it is american company. have you resolved those issues? eric: we have not been able to resolve those issues that are broadly held in europe. we have more than 10,000 employees in europe and love europeans. they are incredibly smart, capable. many of the products you use in america were developed partially or completely in europe. thecore issue, i think, european governance model and with the universities are...
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Jan 27, 2017
01/17
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politics is important in europe. we have elections in the netherlands, france, germany -- possibly italy. we have brexit negotiations still to unfold. as important as monetary policy is, i think politics will be -- out of the three biggies next week, in importance to regards to surprises -- potential surprises, market-moving central-bank meetings, put them in order? who is one when it comes to moving the markets, two and three? richard: sitting in london, i go with the bank of england is number 1 -- but i would say the federal be number one. 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 vo
politics is important in europe. we have elections in the netherlands, france, germany -- possibly italy. we have brexit negotiations still to unfold. as important as monetary policy is, i think politics will be -- out of the three biggies next week, in importance to regards to surprises -- potential surprises, market-moving central-bank meetings, put them in order? who is one when it comes to moving the markets, two and three? richard: sitting in london, i go with the bank of england is number...
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Jan 25, 2017
01/17
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you say that europe is going to model through 2017. is that your best case scenario, muddling through? >> i think it is hard to see a decisive break out to the upside in terms of european growth. we have become more specific. the current momentum in the european economy is maybe a little bit stronger than we expected six or seven weeks ago. -- recent date has been relatively robust. hand, we do think there will be sufficient growth in the european economy and sufficient institutional resilience in the political system that we can avoid the big political mishaps which might lead to significant economic , maybe with more unfortunate consequences. at the same time, in this environment of political challenges, elections and so forth, we're not really expecting to see european institutions and european governments be able to make the necessary but difficult structuralhat allow reforms and so forth that could lead to a decisive break north of that 1.5%-2% range of growth we are forecasting for the remainder of this year and into 2018. descri
you say that europe is going to model through 2017. is that your best case scenario, muddling through? >> i think it is hard to see a decisive break out to the upside in terms of european growth. we have become more specific. the current momentum in the european economy is maybe a little bit stronger than we expected six or seven weeks ago. -- recent date has been relatively robust. hand, we do think there will be sufficient growth in the european economy and sufficient institutional...
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Jan 31, 2017
01/17
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we see some clear signs that europe -- u.s.e and in europe. we see it with spanish number this morning. it is not just a german issue. the spanish number will be a bit of a heyday because one of the rationale for maintaining this policy of the ecb is, you are looking at inflation numbers for caneurozone overall, you accelerate to have some kind of periphery, even if it is accelerating at the same time. you will just have a little bit of a heyday. we think asset classes quite vulnerable. selectedasset segment german bund, is quite variable. we are short on these segments in a few months. matt: what do you think of gilt s? 3% would be insane in germany, but a lot of people expected in the u.k. as far as inflation numbers are concerned. but the government of the bank of england has pledged to look into it. at least we expect to continue that pledge this week. jean: we have seen a little bit of change in the bank of england. post-brexit, we were in full support mood. now we are seeing a bank of england which has a much more balanced attitude with
we see some clear signs that europe -- u.s.e and in europe. we see it with spanish number this morning. it is not just a german issue. the spanish number will be a bit of a heyday because one of the rationale for maintaining this policy of the ecb is, you are looking at inflation numbers for caneurozone overall, you accelerate to have some kind of periphery, even if it is accelerating at the same time. you will just have a little bit of a heyday. we think asset classes quite vulnerable....
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Jan 23, 2017
01/17
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even if marine le pen is campaigning against europe, i think she could not afford to leave europe. by the way, she could win the french election, but she cannot win the majority, the political majority, in the parliament. caroline: thank you very much. party,of the socialist after the primaries in france. francine? francine: caroline, thank you. up next, from this moment on, america first. what will those words from his inauguration mean for the global business over the next four years? they will speak to the former ceo of a company -- this is bloomberg. ♪ francine: this is bloomberg "surveillance." let's get straight to the bloomberg first word news with nejra cehic. nejra: francine, china's state media has used donald trump's inauguration toward about the perils of democracy. according to the people daily, flagship paper of the communist party, democracy has reached its limit and deterioration of the inevitable future of capitalism. the paper touted the relative stability of the communist system as president xi jingping heads toward a reshuffle of senior leadership. former educ
even if marine le pen is campaigning against europe, i think she could not afford to leave europe. by the way, she could win the french election, but she cannot win the majority, the political majority, in the parliament. caroline: thank you very much. party,of the socialist after the primaries in france. francine? francine: caroline, thank you. up next, from this moment on, america first. what will those words from his inauguration mean for the global business over the next four years? they...
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Jan 11, 2017
01/17
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economy with europe to trade with the rest of the e.u. manus: and passporting is an absolute integral part of that with the banking voices for making very clear. mouhammed choukeir stays with us. volkswagen has bloated budget for the scandal. blown its budget for the scandal. that is more. this is bloomberg. ♪ matt: welcome back to the european market open. markets than across the board this morning. i'm standing by at a goldman sachs conference in frankfurt cranny inmanus london. volkswagen is closing in on a deal to settle a u.s. probe in cheating on its omissions tests. the admission will include a guilty plea and raise the cost of the scandal to more than $23 billion for another america alone -- for north america alone. upload the budget the carmaker had set aside -- that blows the budget the carmaker had set aside. tom, what still means to be done to complete this settlement? settlement is a final chunk of a larger lawsuitnt and consumer which is being overseen in a federal court in san francisco, boarday, the supervisory of volksw
economy with europe to trade with the rest of the e.u. manus: and passporting is an absolute integral part of that with the banking voices for making very clear. mouhammed choukeir stays with us. volkswagen has bloated budget for the scandal. blown its budget for the scandal. that is more. this is bloomberg. ♪ matt: welcome back to the european market open. markets than across the board this morning. i'm standing by at a goldman sachs conference in frankfurt cranny inmanus london. volkswagen...
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Jan 20, 2017
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>> well, europe and u.s. has a long-standing strategic partnership which dates for many decades and we think it's very important to continue in the spirit of this strategic partnership and this is our message also to the u.s., we are willing to continue to work closely together. eric: is that something you feel optimistic about or something you're concerned about? i can't tell. >> i think today is a day of the inauguration so we must see what the real first steps of the new administration will be and then we'll be able to tell. eric: you have to worry, i would imagine, about the kind of interfering roll that mr. trump may play in european affairs. he's already been calling on european institutions asking which is going to be the next country to lead the e.u. after the u.k.? what do you do about that? >> clearly that kind of statements are not helpful, especially in a sense that after the british referendum, 27 member states, leaders of 7 member states said very clearly that they see e.u. as indispensable for
>> well, europe and u.s. has a long-standing strategic partnership which dates for many decades and we think it's very important to continue in the spirit of this strategic partnership and this is our message also to the u.s., we are willing to continue to work closely together. eric: is that something you feel optimistic about or something you're concerned about? i can't tell. >> i think today is a day of the inauguration so we must see what the real first steps of the new...
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Jan 9, 2017
01/17
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clearly no quarter was given to him in europe. they are getting that message back from europe. in any negotiation, you have to be firm, then you negotiate from that point. -- we know it is supposed to be done by the end of march anyway. francine: does it have a significant impact on pound or is a lot of the hard brexit, as we call it, priced in? and what does it mean for banks? mike: it is not good news for banks. some banks probably have to move staff out of london as a result of hard brexit unless they can pull off the most fantastic negotiation, which seems unlikely. in terms of the pound, you can probably see some further downside for sterling, but you have to take in mind the fact that the pound is already very weak. twohink we're already about standard deviations cheaper against the dollar. i wouldn't be surprised if you saw us heading down towards 1.15, but i think at that level it starts to look very cheap. what happens to the current account? it is the main concern, right, which we haven't talked about enough. mike: in time, you would expect a weaker currency to feed t
clearly no quarter was given to him in europe. they are getting that message back from europe. in any negotiation, you have to be firm, then you negotiate from that point. -- we know it is supposed to be done by the end of march anyway. francine: does it have a significant impact on pound or is a lot of the hard brexit, as we call it, priced in? and what does it mean for banks? mike: it is not good news for banks. some banks probably have to move staff out of london as a result of hard brexit...
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Jan 22, 2017
01/17
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view of europe. john: unless they change. >> unless they change. things will have to change. they have to more competitive globally. they are doing ok right now. they are doing 1% plus, which is ok. i say this out of respect for the european people, but they are going to have to change. it may be forced by politics or new leadership. we will have to see. erik: more of the week's conversations from davos coming up. donald trump has been talking tough on china. should the world worry about a trade war? >> multiplying things that get said to create enormous anxiety , is, i think, a little overdone. erik: this is bloomberg. ♪ erik: you are watching "bloomberg best." i'm erik schatzker. donald trump did not appear in davos this week, but his presence was certainly felt. here is a tape of the conversation about trump, starting with trump advisor anthony scaramucci, who sold his stake in sky bridge capital to join the white house, and came here to speak on behalf of the new administration. >> that there i
view of europe. john: unless they change. >> unless they change. things will have to change. they have to more competitive globally. they are doing ok right now. they are doing 1% plus, which is ok. i say this out of respect for the european people, but they are going to have to change. it may be forced by politics or new leadership. we will have to see. erik: more of the week's conversations from davos coming up. donald trump has been talking tough on china. should the world worry about...
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Jan 17, 2017
01/17
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i want terror free trade with europe and -- terrorists -- tarrif free trade with europe. i do not want to be bound by the common external tariffs. from striking us our own comprehensive trade agreements with other countries. i do want us to have a customs agreement with the eu. whether that means we must reach a completely new customs agreement, the common associates agreements -- become an associate, i hold no preconceived decision. it is not the means that matter, but the ends. and those ends are clear. manyt to remove as barriers to trade as possible. i want britain to be free to establish our own terrace -- tarrif schedule. schedulese new tariff with allies. a global britain must also be a country that looks to the future. that means being one of the best places in the world for science and innovation. one of our great strengths of the nation is the breadth and depth of our academic and scientific communities. backed up by some of the world's best universities. a history of leading and supporting cutting-edge research we willrmation for continue to collaborate with ou
i want terror free trade with europe and -- terrorists -- tarrif free trade with europe. i do not want to be bound by the common external tariffs. from striking us our own comprehensive trade agreements with other countries. i do want us to have a customs agreement with the eu. whether that means we must reach a completely new customs agreement, the common associates agreements -- become an associate, i hold no preconceived decision. it is not the means that matter, but the ends. and those ends...
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Jan 20, 2017
01/17
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the surveys, the economic data are extremely strong in europe. much stronger it then surveys even in the u.s. regarding industrial competence. i am not saying things are blooming but i am saying that the market does price that cautiousness and there is some scope for surprises. matt: you are a macro strategist. you are looking down at this end seeing everyone from george soros and jamie dimon predicting disintegration. the euro is off of 3% or 4%. the pound is down 6.5% in the last six months. do you use this opportunity to go in and buy low with the expectation of selling higher later? >> it depends. on what we are talking about. but in terms of the euro for instance, we think that a lot of of them is in the price dollar in terms of potential growth acceleration in the u.s. at the same time, even that cannot explain the low levels of the euro. we have to use some of the arguments that you just mentioned in terms of fears of political risk and disintegration and they are real. it predicts -- if we get a bad outcome in the french election that is
the surveys, the economic data are extremely strong in europe. much stronger it then surveys even in the u.s. regarding industrial competence. i am not saying things are blooming but i am saying that the market does price that cautiousness and there is some scope for surprises. matt: you are a macro strategist. you are looking down at this end seeing everyone from george soros and jamie dimon predicting disintegration. the euro is off of 3% or 4%. the pound is down 6.5% in the last six months....
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Jan 5, 2017
01/17
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europe, i am more nervous because i think there will be a never end in europe. 41.apan, it is almost one the weaker the currency gets -- it is almost one for one. tom: we will dive into the equity markets and about 15 minutes. on daybreak, look for william mcnabb of vanguard group. york, this and new is bloomberg. ♪ i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. hey, drop a beat.flix? ♪ show me orange is the new black ♪ ♪ wait, no, bloodline ♪ how about bojack, luke cage ♪ oh, dj tanner maybe show me lilyhammer ♪ ♪ stranger things, marseille, the fall ♪ ♪ in the same place as my basketball? ♪ ♪ narcos, fearless, cooked ♪ the crown, marco po
europe, i am more nervous because i think there will be a never end in europe. 41.apan, it is almost one the weaker the currency gets -- it is almost one for one. tom: we will dive into the equity markets and about 15 minutes. on daybreak, look for william mcnabb of vanguard group. york, this and new is bloomberg. ♪ i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks....
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Jan 21, 2017
01/17
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it was really the long-term of europe. thatishful thinking was brexit would cause the european union to look at what went wrong and fix it. went wrong is going wrong for everybody, not just britain. >> europe is not fixing its problems. a constant: you have -- you have the same political things about immigration. how much power goes to brussels, how much inflexibility you will have. i'm still hoping they do it. but if you have a le pen presidency, it is a very complex thing. it is a long-term pessimistic view of europe. >> the less they change. jamie dimon: things will have to change. they have to more competitive globally. they are doing ok right now. they are doing 1% plus, which is ok. and i have respect for the european people. but they have to change. it may be forced by politics or new leadership. more of the week's conversations from davos coming up. donald trump has been talking tough on china. should the world worry about a trade war? saidltiply things that get to create a enormous anxiety. i think it's a little o
it was really the long-term of europe. thatishful thinking was brexit would cause the european union to look at what went wrong and fix it. went wrong is going wrong for everybody, not just britain. >> europe is not fixing its problems. a constant: you have -- you have the same political things about immigration. how much power goes to brussels, how much inflexibility you will have. i'm still hoping they do it. but if you have a le pen presidency, it is a very complex thing. it is a...
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Jan 16, 2017
01/17
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and ugly american sitting here in europe. likeforeigner, it looks the prime minister has no real opposition. is there anybody who will amend her thoughts on this speech tuesday? she is in charge. she is going to say what england is going to do and don you go? >> that's what it looks like from where i'm sitting. the opposition is more likely to come from within more centrist forces within the conservative party. there is no real labor opposition. the labor problem -- labor party has its own issues. there have been a few crushing electoral defeats at a local level recently. what we've got to bear in mind how ourt will depend on neighbors in europe react, germany in particular. everything is really still up in the air. are we going to start to understand what happens with the negotiating planet? there were hints out of the treasury talking about tax policy. are we beginning to understand which cards the government has in its hand? we are not single market members or is there is no shadow system that gives britain and equivalents
and ugly american sitting here in europe. likeforeigner, it looks the prime minister has no real opposition. is there anybody who will amend her thoughts on this speech tuesday? she is in charge. she is going to say what england is going to do and don you go? >> that's what it looks like from where i'm sitting. the opposition is more likely to come from within more centrist forces within the conservative party. there is no real labor opposition. the labor problem -- labor party has its...
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Jan 4, 2017
01/17
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and europe. about the 1930's, 19 40's and what the world looked like after, i'm trying to understand what is the best way of understanding this. i'm just wondering whether mutually assured destruction still works or those cold war series can be applied to this new world you talk about? is a risk the there that eventually if we become to -- moreal us unilateralist, there is a chance for conflict. there is a rising number of powers becoming nuclear. gives up on europe and its allies, you'll have russia on one side becoming more aggressive come ukraine, baltics, balkans, middle east, at a time when europe and the eurozone is in the process of disintegration. my biggest worry is le pen will come to power in france. >> guy johnson has this front and center. >> the potential of the cold war is low, but you will not see block behavior. when the cold war happen, the united states had allies that wherewith the u.s., and clearly trump is setting up for a u.s.-china confrontation that won't be well managed,
and europe. about the 1930's, 19 40's and what the world looked like after, i'm trying to understand what is the best way of understanding this. i'm just wondering whether mutually assured destruction still works or those cold war series can be applied to this new world you talk about? is a risk the there that eventually if we become to -- moreal us unilateralist, there is a chance for conflict. there is a rising number of powers becoming nuclear. gives up on europe and its allies, you'll have...
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Jan 11, 2017
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this is "bloomberg daybreak: europe." things looking little hazy over in hong kong. the hang seng up by .7%. 6:18 here in london this wednesday. let's get the bloomberg business flash. >> volkswagen is closing in on a deal to pay $4.3 billion in criminal and civil penalties to settle u.s. probe into the rigging of diesel engine emissions. it will raise the cause of the scandal to more than $23 billion in the u.s. and canada, way above the $19.2 billion b dubya had set aside to resolve the vw had -- to set -- that set aside to solve the dispute. according to people of knowledge of the matter, the conglomerates main bank agreed to maintain financing through february even know recent credit downgrades may make it an eligible receive loans. said the main bank will continue to offer support. the main a similar of apple's iphone's has recorded its first annual revenue decline since listing in 1991. as foxconn, they posted a 2.8% fall in 2016 sales is a global smartphone market went for its worst year on record, coming as foxcon
this is "bloomberg daybreak: europe." things looking little hazy over in hong kong. the hang seng up by .7%. 6:18 here in london this wednesday. let's get the bloomberg business flash. >> volkswagen is closing in on a deal to pay $4.3 billion in criminal and civil penalties to settle u.s. probe into the rigging of diesel engine emissions. it will raise the cause of the scandal to more than $23 billion in the u.s. and canada, way above the $19.2 billion b dubya had set aside to...
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Jan 18, 2017
01/17
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erik: not in europe? davide: not in europe. erik: good having you here. it is davide serra at the world economic forum. alix: coming up, two of the biggest names in finance discuss the pros and cons of populism in davos. the impact of the middle class. this is bloomberg. ♪ this is "bloomberg daybreak." i'm jonathan ferro. futures up on the dow and the s&p 500. a reflation theme in the u.s. bond market. inflation climbing for a fifth straight month. ,ou're on your, prices of 2.1% the most since june 2014. that is fueling a trend with yields climbing across the curve. in the fx market, a stronger dollar story. the euro at 1.06. today, francine lacqua hosted the crisis of the at the worldpanel economic forum in davos. >> the people who will be the victims of populist policies are the lower income and middle-class people in whose name the policy is offered. let me give just one example. yes, our president-elect has made for her five phone calls to four or five companies, largely suspending the rule of law, and extorting them into relocating dozens or perhap
erik: not in europe? davide: not in europe. erik: good having you here. it is davide serra at the world economic forum. alix: coming up, two of the biggest names in finance discuss the pros and cons of populism in davos. the impact of the middle class. this is bloomberg. ♪ this is "bloomberg daybreak." i'm jonathan ferro. futures up on the dow and the s&p 500. a reflation theme in the u.s. bond market. inflation climbing for a fifth straight month. ,ou're on your, prices of 2.1%...
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Jan 29, 2017
01/17
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pier carlo padoan: the problem in europe is europe. a specific manifestation of populism and disaffection with the state of things is europe. there is a strong saying that are problems are generated in brussels. we're sometimes in frankfurt, depending on where you live. this is a problem because europe used to be the solution to many of the problems of the laggards in the integration project. this has been turned around completely. europeans have a duty when they set up a policy which is hopefully convincingly dealing with the issues raised by populism. they are raising the right issues. they are not giving answers, but they are raising the right issues. the other aspect is anyone who is involved in policymaking knows that we can design beautiful strategies and solutions and bring in all the tools, but before they generate visible benefits to the population and we have the hope to raise consensus on those policies, time goes by. maybe we don't have enough time today. we need to respond to immediate crisis and pressures. as far as italy
pier carlo padoan: the problem in europe is europe. a specific manifestation of populism and disaffection with the state of things is europe. there is a strong saying that are problems are generated in brussels. we're sometimes in frankfurt, depending on where you live. this is a problem because europe used to be the solution to many of the problems of the laggards in the integration project. this has been turned around completely. europeans have a duty when they set up a policy which is...
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Jan 26, 2017
01/17
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we will build a new partnership with friends in europe. we are not turning our backs on the interests or the values that we share. it remains overwhelmingly in our interests and those of the wider --ld that the eu ships should succeed. for as long as we remain members, we will continue to play our four-part. just as we continue to cooperate on security, foreign policy, and trade. we have chosen a different future for our country. restoresre that sovereignty and national self-determination. and to become even more global in spirit. the future to take back control things that matter to us, things like immigration policy, and the way we determine our laws, so we create a better and more prosperous future. uputure that sees us step with confidence to a new even withinternationalist role, our friends and allies, we champion the internet -- international operation in parliament that reject our values around the world and continue to act as one of the strongest and most forceful advocates for business, free market, and free trade anywhere around
we will build a new partnership with friends in europe. we are not turning our backs on the interests or the values that we share. it remains overwhelmingly in our interests and those of the wider --ld that the eu ships should succeed. for as long as we remain members, we will continue to play our four-part. just as we continue to cooperate on security, foreign policy, and trade. we have chosen a different future for our country. restoresre that sovereignty and national self-determination. and...
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Jan 10, 2017
01/17
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mores talking about integration with europe. this is not a rejection of europe. it is i want some sovereignty back. tom: i have a phrase for davos -- davos distracted, douglas b will did. 13 years, francine. marvin: i've got one for you. tom: mine is populism trumps davos. the elites have been overcome by all of the events you are talking about. but then how does that fold into your professional world of foreign exchange? how do you take this political debate and either hedge it on the industrial/commercial side, on foreigne exchange? what do you actually do? marvin: you need to look at which countries are going to benefit and how. one clear example is that we should expect g 10 outperformance relative to emerging markets, not just in foreign exchange but more broadly. this is because clearly and emerging markets have been some of the greatest beneficiaries of globalization. this populism, however it comes in indirect forums or direct forums, will lead to some deglobalization. but some countries imposing tariffs are slowing down there long run potential growth ra
mores talking about integration with europe. this is not a rejection of europe. it is i want some sovereignty back. tom: i have a phrase for davos -- davos distracted, douglas b will did. 13 years, francine. marvin: i've got one for you. tom: mine is populism trumps davos. the elites have been overcome by all of the events you are talking about. but then how does that fold into your professional world of foreign exchange? how do you take this political debate and either hedge it on the...
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Jan 30, 2017
01/17
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is: 26 and the rest of europe. -- 8:26 in the rest of europe. manus: paris, frank for, all european markets -- frankfurt, all european markets later. more investors coming. that's it. the european open is up next. this is bloomberg. ♪ guy: welcome. this is the european open, your first trade of the equity session coming up. i'm guy johnson, in london alongside matt miller in berlin. what are we watching this monday morning? trunk turbulence. the presidents immigration dan sparks a backlash from political and business leaders. european futures point to a softer opening. the president signs another executive order at 3:30 p.m. gmt. what effect will this one has?
is: 26 and the rest of europe. -- 8:26 in the rest of europe. manus: paris, frank for, all european markets -- frankfurt, all european markets later. more investors coming. that's it. the european open is up next. this is bloomberg. ♪ guy: welcome. this is the european open, your first trade of the equity session coming up. i'm guy johnson, in london alongside matt miller in berlin. what are we watching this monday morning? trunk turbulence. the presidents immigration dan sparks a backlash...
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Jan 31, 2017
01/17
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trading day in europe. i'm mark barton. and in new york, i'm vonnie quinn is the european close on bloomberg. mark: we are going to take you from new york to london to stockholm in the next hour. stories out of washington and japan as well. here are the top stories we're parliamentoday -- begins debating on the brexit ifl with david davis asking nations trust the people. prime minister may is eyeing march 9 as the day to trigger article 50. vonnie: in the united states, another political storm brewing as president donald trump meets with the ceos of lawmaker -- of talk onrs as lawmakers capitol hill. and the first 10 days in office -- blackstone's global head of private equity joins us. mark: have a look at where european equities are trading 30 minutes into the session. stocks are falling in europe, the biggest three-day drop since november 4. donald trump's firing of the acting attorney general adding about uncertainty decisions in the new administration. that's the biggest drop since november 2. and currencies are rising
trading day in europe. i'm mark barton. and in new york, i'm vonnie quinn is the european close on bloomberg. mark: we are going to take you from new york to london to stockholm in the next hour. stories out of washington and japan as well. here are the top stories we're parliamentoday -- begins debating on the brexit ifl with david davis asking nations trust the people. prime minister may is eyeing march 9 as the day to trigger article 50. vonnie: in the united states, another political storm...
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Jan 17, 2017
01/17
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you can trade throughout europe from there. about were talking mergers and acquisitions and the .pproach to look at have you been approached? >> not yet. no. independence and we are probably looking to see if we can do some mergers and acquisitions. >> why? >> for you asian's, at the moment. there is a tough time for six or means thereand this needs to be some mergers in this business. >> would you buy or lease something in europe? thathave always said america is the holy grail for asset managers. ands a place you need to be asset managers are looking to tie up. >> there are questions about the inauguration. one i will get to and we will see what the inauguration is really like and it is pretty exciting. >> do think there will be a rally on the back of taxctations with this repatriation? >> they are talking about doing the right things and the banks moves tod run with the do what he has been trying to for the last six years. i think that emerging markets are not going to benefit from see and i think we could imports fromnd emer
you can trade throughout europe from there. about were talking mergers and acquisitions and the .pproach to look at have you been approached? >> not yet. no. independence and we are probably looking to see if we can do some mergers and acquisitions. >> why? >> for you asian's, at the moment. there is a tough time for six or means thereand this needs to be some mergers in this business. >> would you buy or lease something in europe? thathave always said america is the...
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Jan 2, 2017
01/17
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but the real surprise is europe and the ecb. tell me about the pressures on mr. draghi next year to right size his ecb. abby: mr. draghi has a problem that we see in terms of other central banks as well, and that is fiscal policy has been asleep, and it has been largely inactive for most of the period since the financial crisis. we have seen more stimulus in the united states, 2009, 2010, than was the case elsewhere, especially in europe, where they had the constraints that were very considerable in terms of deficit relative to gdp. so when we talk about mr. draghi , we talk about other central banks, let's not do it in a vacuum. let's recognize that we have asked central banks around the world to do way too much. and that is because fiscal policy largely has been absent. tom: right. abby: in 2017, the ecb is going to be looking not just a interest rate policy, but also in terms of their approach to qe, quantitative ease. and what mr. draghi said recently is that he doesn't plan to taper anytime soon. but what we have to keep in mind is that this is not a long-te
but the real surprise is europe and the ecb. tell me about the pressures on mr. draghi next year to right size his ecb. abby: mr. draghi has a problem that we see in terms of other central banks as well, and that is fiscal policy has been asleep, and it has been largely inactive for most of the period since the financial crisis. we have seen more stimulus in the united states, 2009, 2010, than was the case elsewhere, especially in europe, where they had the constraints that were very...