the u.k. and the european union. it was here more than anywhere else that the renaissance began. -- sawin history that is centuries of creativity and critical thought across our continent and which in many ways defined what it meant to be european. whose exampleory shaped the modern world. a time of history that teaches us that when we come together in a spirit of ambition and innovation, we have it within ourselves to do great things. that shows us if we open our minds to new thinking and new possibilities, we can forge a better, brighter future for all our people. and that is what i want to focus on today. a new anding through critical time in the history of the united kingdom's relationship with the european union. the british people have decided to leave the eu and to be a global, free trading nation able to chart our own way in the world three and for many, this is an exciting time, full of promise. for others it is a worrying one. i look ahead with optimism, believing that if we use this

the u.k. anti-e.u. thrives side-by-side. that partnership is important. for as we look ahead, we share challenges and opportunities in common. here in italy today, our two countries are working together to tackle some of the greatest challenges of our time. challenges where all too often geography has put italy on the frontline. as i speak, britain's royal navy, national and agency, and border are working alongside the affiliate partners to save lives in the mediterranean and crackdown on the evil traffickers who are exploiting desperate men, women, and children who seek a better life. our two countries are also working together in the fight against terrorism from our positions at the forefront of the international coalition against daesh, to our work to disrupt the network service groups used to finance their operations and recruit to their ranks. and earlier this week, i was delighted that prime minister jens ohlone was able to join president macron and myself and convening the first ever u.

the u.k. thrive side-by-side. that partnership is important. for as we look ahead, we share challenges and opportunities in common. here in italy today, our two countries are working together to tackle some of the greatest challenges of our time. challenges where all too often , geography has put italy on the frontline. as i speak, britain's royal navy, national crime agency, and border patrol are working alongside their italian partners to save lives in the mediterranean and crack down on the evil traffickers who are exploiting desperate men, women, and children who seek a better life. our two countries are also working together in the fight against terrorism, from our positions at the forefront of the international coalition against daesh, to our work to disrupt the networks terrorist groups use to finance their operations and recruit to their ranks. and earlier this week, i was delighted that prime minister jens ohlone was able to join insident macron and myself convening the first ever u.n

and the u.k. thrive side by side and that partnership is important for as we look ahead we see shared challenges and opportunities in common here in italy today our two countries are working together to tackle some of the greatest challenges of our time challenges where all too often geography has put italy on the front line as i speak britain's royal navy national crime agency and border force are working alongside their italian partners to save lives in the mediterranean and crack down on the evil traffickers who are exploiting desperate men women and children who seek a better life. our two countries are also working together in the fight against terrorism from our positions at the forefront of the international coalition against. to our work to disrupt the networks terrorist groups use to finance their operations and recruit to their ranks and earlier this week i was delighted that prime minister gentle loney was able to join president and myself in convening the first ever un summit of govern

i want to incorporate our agreement lee into u.k. law and make sure u.k. courts can refer directly to it. when there is uncertainty around underlying eu law, i want the courts to be able to take into account the judgments of european court of justice to ensure correct interpretation. i hope our teams can reach agreement quickly. negotiations, the are focused on the arrangement for the uk's withdrawal from the eu. we need to move on to talk about our future relationship. we recognize that we cannot leave the eu and have everything stay the same. life or us will be different. -- for us will be different. the want to stay as partners to carry on working together for our mutual benefit. in short, we want to work hand in hand with the european union, of thethan as part european union. that is why in my speech at lancashire house, i said the united kingdom would seek to secure a new, deep and special partnership with the european union. this should expand the economic relationship on security. let me set out what each of these relationships could look like befor

that the u.k. has, for us, always had a very special role in pulling the rest of europe forward when it came to market globalization to setting the right rules and standards, with the united states on counterterrorism, on security issues. , in this want transition, to lose that role the u.k. as with the united states. you are a vision about the future role that the u.k. will stake out in developing open markets and fighting against protectionism and supporting trade flows and encouraging greater globalization of services and supporting innovation, and in many other areas, it is encouraging for all of us. as you can see, the questions, which could have gone for another couple of hours, it is all in the details. while we support your broadvision, we also want to be partners with you to make sure that our interests are well represented in those details. expect that the u.s.-u.k. business council will continue to knock on your door. we have lots of papers and lots of member interests, and recognize beh

the u.k. anti-e.u., side-by-side -- and the eu, side-by-side, delivering prosperity and opportunity for all our people. this is the future in our grasp. together, let us seize it. thank you. [applause] >> thank you. there is an opportunity for some questions from the media. --ill go first to as you said, the 600,000 italians now live and work in the u.k.. you said you want them to remain. how? what will change for them? we set outter may: for those eu citizens currently living in united kingdom who have made the u.k. their home, including those 600,000 italians in the united kingdom, we want them to be able to stay and have the same rights as they have at the moment. we are negotiating this with the european union because as the british prime minister, i want u.k. nationals living here in italy and elsewhere in the european union to be able to maintain their rights, too. we are close to ensuring we have that agreement. i have set up today what i hope is a reassurance that those italian citizen

-u.k. ng ies when the time is right and hen you tell us, u.k., you are ready. america cap companies have a huge commitment to your country these will not be easy u.k. ations between the and e.u. d there are strong critics between unrelateic aplompse and response to er that which is to get to work and and the u.k. are able to move forward. to know that we are eeg are to be hearing from you helpful in our work. and datath the workers nd here to hear more about intellectual property rights and and t access for goods financial services and issues, i on your agenda. a paper on these issues which we will share with secretary davis and your team. the negotiations will be tough will have their ups and downs. similarities what the united states faces. the trump administration has een i think in some ways important and also relevant to your discussion. stakes are high but your commitment to you and your we are nt is that supportive of the special >> let me turn to an introduction of secretary davis. he was appointed secretary of state for exhibiting exiting the european

the u.k. press. >> good afternoon. what we expect today is a rate west for two-year transition and some suggestion to pay for that. that will bridge the eu budget gap. we will look to see if she goes are the that are it the only mother money on the table -- other money on the table. that is one of the three priorities the eu wants to fix before the conversation can move on to trade. she wants to move this on to trade. she cannot do that unless she has proven more progress on the stalled talks. we will be listening for that. what else will she say about the future relationship? joanathan: it looks beautiful. let's deal with the money. that's what matters to the eu at the moment. she will outline pre-existing commitments to the eu budget, 10 billion euros a year. that's not the complete brexit bill. >> it seems to be. she may or may not mentioned the number of 20 billion total. of that's a people are talking about. that is when the eu budget expires. separate to that, there is another money ques

u.k. time. -- 8:30 a.m. u.k. time. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . the fact we did not have any action from pyongyang over the weekend and hurricane irma seems to be weakening has given investors reason to get the toes back into equity today. the nikkei up 1.4%, the biggest jump since the second of june. also, a big rally coming through in hong kong, particularly automakers. sydney up 7/10 of 1%, doing far better than it was, up 7/10 of 1%. asian stocks as a whole at the 10 year high. we have seen a movie out of those risky safe haven assets into riskier assets. byd is an electric carmaker in china rallying on the news china wants to ban or phase out fossil fuel cars. falling the most in six years, btv 5945, we are talking about the pickup in chinese prices, much better and stronger than what was expected. this chart shows the relationship between china's food costs slowing. that is the yel

i think that the u.k. has, for us, always had a very special role in pulling the rest of europe forward when it came to market globalization to setting the right rules and standards, to be shoulder with the united states on counterterrorism, on security issues. we do not want, in this transition, to lose that role the u.k. as with the united states. you are a vision about the future role that the u.k. will stake out in developing open markets and fighting against protectionism and supporting trade flows and encouraging greater globalization of services and supporting innovation, and in many other areas, it is encouraging for all of us. as you can see, the questions, which could have gone for another couple of hours, it is all in the details. while we support your broadvision, we also want to be partners with you to make sure that our interests are well represented in those details. expect that the u.s.-u.k. business council will continue to knock on your door. we have lots of papers and lots of member inte

the u.k. government says it's confident a major piece of bricks that legislation will pass in parliament on monday m.p.'s are due to vote on the e.u. withdrawal bill which would convert european union rules into u.k. laws breaks it minister david davis says the bill is essential to ensure an orderly exit from the e.u. but the opposition has criticized the bill as a power grab by the executive well for more on this lawrence lee joins us live now from westminster so this obviously proving quite controversial is the government going to survive this vote. yes i think it is. explain why in a second the but there's a curious contradiction barbara the hearts of all this which is that essentially those in favor of brecht's it say it's very important to make the u.k. more democratic so give parliament solvency are not subject to european union law and so in doing that they want to transfer lots of e.u. law into u.k. law instead but they're accused of a caucus ie because ministers say they want the powe

as long as the u.k. remains a member of the european union the u.k. has to go on implementing european union law. mifid ii is one of the biggest pieces of implementation we will be doing during this period. heels of that, in the context of the withdrawal legislation in the u.k., we are working with the government, having to go through all the regulation and the rules that come from the european union and work out how to transport them into u.k. legislation and rules. that is a big job. we are well underway. that includes having to deal with mifid ii among other things. we are trying to work out how to transport it into u.k. legislation. which is challenging in terms of timetables and load but we are having to do that obviously. the commitment of the u.k. is that on day one, we essentially have the same framework of legislation, rules, operating as is the point from which the u.k. goes forward. nejra: does this in any way mean you will have to adapt more as -- as the fca, u.k. firms might get more time or leeway? eu, andmember of the the same way as th

you saw the u.k. supermarket, with sales that were in line with expectations but a gain and 2.5%.rket was looking for doing a little bit better than what had an anticipated. this is bloomberg. ♪ matt: good morning from berlin. it is about a quarter past 8, 8 19 a.m. and 17 seconds. you are looking at a shot of the brandenburg gate in berlin. on markets have been trading bunds for 20 minutes and investors are selling them pushing the yield that. maybe it will be more of a risk on day but we see futures for the most part across europe in the red right now. with the exception of the ftse. let's get to the bloomberg business flash with roseland chin. russel >> irma will probably without third-quarter profits. the world's largest reinsurer profit ofguidance for 2 billion euros to 2.4 billion euros. the storms in north america at to challenges. the company was pressured by low interest rates and competition. playing the role of kingmaker in the contentious battle for toshiba's memory chip is this. accordi

and u.k. citizens in the rest of the e.u. a budgetary settlement for the kind of price of britain's exit if you like and the third is the northern ireland border issue those are the three criteria according to which this speech is going to be assessed if he doesn't deal with the detail of those then she's not going to succeed in kind of looking this process to speed up the negotiations to start talking about britain's future relationship with the european union so that's what we can be looking out for today but these are three very very major issues on the two sides have been deadlocked over them for a long long time right so and she's also having trouble at home within her own party over some of these issues so how do you see it's got a fan exactly what it's a very very difficult speech for her to give ultimately i would not personally want to be in her shoes because if she pleases london she's not going to pretty please brussels if you please brussels she's not going to please london so the

the u.k. government. energy. why the latest inflation data may serve to strengthen mario draghi's caution at next week's ecb meeting. this is bloomberg "surveillance ." some manufacturing data crossing the terminal. 57.4. withigure bang in line earlier estimates. a strong figure if you look at the pmi manufacturing figure five yearsst four or or so, that is equal to the high of a couple of months ago. so, manufacturing going from strength to strength. 57.4, the actual figure 57.4. sets us up nicely for the ecb meeting on thursday, backing some view that the economy is strong enough to weather the beginning of the normalization of of ecb policy. check out what is happening with european equity markets. we are on track for a weekly gain. we've been alternating on a weekly basis for the lesast six. infell for a third month august. worst losing run since february 2016. the u.s. jobs report. the euro is down against the dollar today. after rising for six out of the last eight weeks. be question wil

law into u.k. law precisely to in sure that we have that smooth and orderly process of withdraw and that people know at the point at which we leave they still know the basis on which they're able to operate now take a final question is. representative issa torches i told here yes sorry i think i've answered that it's a dimension this is prime minister what exactly do you now expect from brussels and from berlin after the speech well what i would hope the people in brussels in berlin and across the european union would see is that this is the united kingdom setting out the opportunity for us to work together to negotiate what would be a strong partnership i've used the term deep and special partnership that will ensure the future prosperity of countries in the you and the united kingdom in the future and i hope that people will feel that and will respond to it in a tone and a way of partnership and of friendship because that is what the u.k. is offering and i think it's important not just for the u.

u.k., most members of theresa may's party think she should quit before the next election. ina poll, 13% said she should leave now or in the next year. and the same proportion said she should go just before the next elections in 2022. meanwhile, 38% think she should quit after britain has left the european union, march 2019. steven mnuchin says the republican tax plan will cut the u.s. deficit byt $1 trillion but most economists think otherwise. 21 out of 26 predict it will widen the budget deficit over 10 years. the tax plan fall short of promises to create jobs and spur growth and only really benefits the wealthy. >> this is going to be a great tax bill for hedge fund managers in florida. and the descendents of very wealthy people. it will be great for them. inthe probability gets done 2017? >> i do not think this bill is getting done. nejra: the white house it has begun an internal review of its staff use of private emails for government business. reported yesterday that private email ac

u.k. defense secretary michael phelan who was all for funneling u.k. arms to al-qaeda linked rebels in syria to overthrow its government speaks at the arms dealing meeting in the xcel center in east london that's fallon who clearly does not agree with u.k. foreign secretary boris johnson about the so-called told you so brigade those who oppose british policy he said it is difficult to deny that they have a point the told you so brigade. well i don't agree with that so boris johnson the foreign secretary is wrong well i have to say the words that you're trying to quote to me i don't have them in front of me just trying to them well i'll have to look at them it's unlikely anyone will go to jail for selling arms today in london to despotic regimes that could endanger british security let alone that of millions of civilians in fact quite the contrary even the corporation tax is accruing from arms sales will arguably be diverted to guaranteeing the solvency of banks in the city of london rather

says the u.k. needs the time to make the process easier their proposal is getting mixed reviews from european leaders iraq's kurdish leader massoud barzani he says monday's independence referendum will definitely go ahead despite international pressure to stop it barzani was speaking in iraq's kurdish capital bill at the final rally before monday's vote among the critics of the united states the european union and the arab league goes on he says whatever the outcome of the referendum the kurds are happy to fight alongside iraqi forces against. meanwhile syrian kurds have voted in an election which is widely seen as the start of a three phase process to shore up regional autonomy in the country's north the people who win the coming elections will go on to contest local council elections in november also contest a third poll to form a body to act as a regional parliament sitting in kodesh autonomy plans are opposed by the government in damascus tens of thousands of people in puerto rico are being mov

as long as the u.k. remains a member of the european union the u.k. has to go on implementing european union law. mifid ii is one of the biggest pieces of implementation we will be doing during this period. hot on the heels of that, in the context of the withdrawal legislation in the u.k., we are working with the government, having to go through all the regulation and the rules that come from the european union and work out how to transport them into u.k. legislation and rules. that is a big job. we are well underway. that includes having to deal with mifid ii among other things. we are trying to work out how to transport it into u.k. legislation. which is challenging in terms of timetables and load but we are having to do that obviously. the commitment of the u.k. is that on day one, we essentially have the same framework of legislation, rules, operating as we do, that is the point from which the u.k. goes forward. nejra: does this in any way mean you will have to adapt more as the sca -- as the fca, u.k. firms might get more time or leeway? >> as a

/u.k. business council, one of the 15 existing councils we now run, to work not only to strengthen the relationship between the u.k. and the u.s., but also to look at the work of the brexit areas. we have three simple objectives. first i should begin by saying i'll have more to say on this topic later at a different time. but we're very pleased that rob rooney who is one of the leaders in morgan stanley has chosen to become chair of this u.k. council. the objects are clear. we want the u.k. and e.u. to agree on clear terms of exit and build a strong foundation for ongoing cooperation. of course we want to encourage you to have predictable transition periods that avoid a cliff edge. second, we want clarity on the way forward when you can in terms of minimizing business disruption and encourage both sides to understand the real consequences of failure to secure a sound deal. and finally we want to lay the groundwork for strengthening further u.s./u.k. ties through a future trade agreement whe

precedented and i'm pretty sure that the u.k. prime minister to raise the money is going to be facing questions whether that security london underground has been in the security by the way we should just reiterate there have been no arrests made yet to we're waiting to hear and not try to bring yourself the dates with today's attack and the previous ones as well thank you. well in view of the increased number of terror attacks as nic has just been speaking about the question of border security is high on the agenda the e.u. commissioner for migration has seemingly how the change of heart on shandon border controls after a meeting with the interior minister our europe correspondent peter all over again tell us more and join to say live the program peter what does change then for the commissioner. well essentially union this is probably the most recently the quickest policy u.-turn i've seen from a senior politician in a long time it was demetrius of the e.u. migration commissioner he was holding this meeting on thursday evening wi

u.k. lawmakers passed theresa may's reveal bill. -- repeal bill. the historic victory. voters embrace the promise to cut taxes. and vw voltage. the world's biggest carmaker to gos sweeping plans electric. we are live at the frankfurt motor show. welcome to "bloomberg daybreak: europe," our flagship morning show. i'm anna edwards. we have great guests coming up, in particular from the frankfurt morning show. bmw special representative joins us in about 15 minutes time for the first conversation of the day. that is followed by stephen armstrong at 6:30 u.k. time. we will get into those conversations about electric cars, about diesel, about the future. let's get to the markets, though. we need to tell you what has been happening over the last 24 hours. the united states picked up at risk on atmosphere we saw in the asian session and the european session yesterday. the snp, closing at another new record high. in fact, we have the snp here, charting its course through 2017, and pushing up again

u.k. than is in the united states of america which if you think about it is quite quite incredible. i'm glad that the government says in response to. reports that they're going to give serious consideration to what we do need serious in relation to action in relation to monitoring to ensure that we get rid of discrimination in the justice system under the police regulation looking into the recent shootings of people of color in london over the summer but i would like labor m.p.'s who voted for wars that killed displaced or wounded to tens of millions of people of color and now implicitly criticizing british police for being racist. has always spoken out against racism should be commended for this. war well jamie. rubin should be commended for opposing the iraq war opposing the intervention in libya positions i shared on both those issues and david lammy should be commended for this report which will inform labor policy. nation here in the u.k. in the justice system. thank you tory perspect

because when the u.k. . all european union laws cease to apply to the united kingdom including going north that govern the financial contributions in the wider but the e.u. parliament steve bracks if you go she tells me a good future relationship will require a settled bill. i have no experience in divorcing but i know that in a divorce. you cannot walk out of your house and letting the other family members alone without taking your financial responsibility which takes us right back to the negotiating table. that's not over for my. story to pay for the last round. and for more interest amaze address on breakfast later today let me join our london correspondent big mouth big it really money be top of the agenda and is the financial settlement key to breaking the deadlock between the two sides while a financial settlement is definitely one of the biggest stops that we've seen so far and we are expecting to reason may to make an offer today and the some that's been bandied around in the british media is about t

leaders from the u.k. and the e.u. ended another round of talks this week with the same result yet again we still don't know what drugs that negotiations will look like or what we should expect and its aftermath to talk more about this we're joined now by. bianca what did both sides have to say about these latest talks well both sides have acknowledged that they've made some progress which is good but the e.u. remains very skeptical about how far they can get after the u.k. leaves next month leaders from each nation will meet and discuss how much progress has been made in negotiations and on thursday commission president younker gave some insight into his thoughts on where they're headed. the security. on the. north coast with. a younger did say that they've made some headway in u.k. prime minister theresa may said she was pleased with the way discussions are going but beyond the details of the u.k.'s exit sorting out other key issues like trade or a whole other dilemma irish prime minister leo varadkar told reporters

leaders from the u.k. and the e.u. ended another round of talks this week with the same result yet again we still don't know what drugs that negotiations will look like or what we should expect and its aftermath to talk more about this we're joined now by. bianca what did both sides have to say about these latest talks well both sides have acknowledged that they've made some progress which is good but they were maine's very skeptical about how far they can get after the u.k. leaves next month leaders from each nation will meet and discuss how much progress has been made in bricks and negotiations and on thursday commission president john cloud younker gave some insight into his thoughts on where they're headed. to be through such. a moment on this. because with the. younger did say that they've made some headway in u.k. prime minister theresa may said she was pleased with the way discussions are going but beyond the details of the u.k.'s exit sorting out other key issues like trade or a whole other the irish prime mini

the u.k. premised are's attempt to silence foreign secretary boris johnson in a brexit debate has backfired. had not been authorized and insisted she was in charge of the government that .ad agreed to the policy johnson gave an interview in which he discussed brexit options and appears to leave open the possibility he might quit in protest. and handling of the issue. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top go. it is a little bit of a waiting game for the fed. you have japanese stocks which missed and on the rally rebounding after the public holiday. the nikkei up by 1.7% and the topix trading at a two-year high. we had minutes coming from the rba, flat on the asx 200. also seeing the taiex come under pressure. inre was a recent run-up those apple supplies. we are watching nintendo jumping the most since october 2008. todit suisse upgrading outperform from neutral. leading the ga

in the u.k. is at 4.3%. a lot of people are questioning the phillips curve and asking when wage growth is really going to take off. why should the u.k. and the bank of england have so much conviction, so much faith, in those old economic models that in the last several years don't seem to have been working so well? matt: they have not really worked for anybody, so i'm not sure why they would have so much conviction in it now. in the u.k. there's a lot of , confusion as to what the actual inflation is there because of the devaluation of the pound post brexit, so i think we have to see a few more numbers to figure out what the actual trend is. we are expecting the u.k. to hike in october, but from there, what you will see is a little pullback in quantitative easing. we have actually seen it already where they have stopped buying , corporate credit. yet, corporate credit spreads are tighter than they wear when -- then they were when they were buying corporate credit. jonathan: in a couple of months,

u.k. by when year. the first couple of months of less year, from ability of a rate hike is 100%. anna: we will talk about that this hour. the comments around wages cap underscored the dove. putting up the risk radar, you have to think about where we are on the asian equity session. record-breaking wall street day on friday. , that isl resolution with the u.s. is seeking and that is helping the markets get higher. japan is closed. we put s&p futures in their .ecause it went over 2500 we are expected to go up another percent. the dollar was a steady. it was weaker on friday. manus: what goes up doesn't necessarily come down. third big milestone in 2017, the second-longest bull run in history. will the balance sheet unwind risk take numbers? there seems to be significant potential for down chair prices. you could get to a bear market. there is an abundant global supply and the risk of slowing demand. they all just came in a shade lower. we are seeing a little -- anna: they are talking a poten

and the u.k. were moving through a critical period in their relationship and that she looked ahead to press it with optimism the prime minister also stressed that london wants to be a strong friend and partner to brussels. our decision to leave the european union is in no way a repudiation of this long standing commitment we may be leaving the european union but we are not leaving europe our resolve to draw on the full weight of our military intelligence diplomatic and development resources to lead international action with our partners on the issues that affect the security and prosperity of our peoples is unchanged the european union never felt to us like an integral part of our national story in the way it does to so many elsewhere in europe as here on this earn from didn't because one is big it mass in the london and barbara vase or in the brussels welcome both will start with you barbara vale what message is to resume sent to brussels with this speech as she has sent the message that she is n

smiths group, a global technology company, u.k. energy u.k. energyt is a and medical technology and it airportong half due to transportation. it says oil and gas is likely to remain challenging and whitney -- when he came to the numbers, full-year operating profit beat, but revenue missed. onegative view down 3.7% smiths group. ams interesting because we had an -- a report that the customer turnout for the iphone eight launch was muted. fewer people than usual lined up outside the store. might open lower and we have seen that, ams down 1.9%. i'll pick it up. thank you. angela merkel is on course for a record-tidying fourth term in office after sunday's election. while polls point to her remaining in office, there are still a number of possible coalition outcomes. still with us, kokou agbo-bloua global head of flow strategies at socgen. let me ask you what the market would prefer to see. joining withblock the liberal party, the fdp, the best scenario for the markets? kokou: yes, i think the coalition would be the most because it markets carries

you can use that to watch the u.k.'s rate decision at noon, u.k. time, at 1:00 p.m. on the continent. definitely, tv is a useful function. the boe is not the only one keeping a close eye on inflation policy makers at the fed. we will get consumer price meeting -- readings later today. we will discuss. this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open." i am matt miller in berlin alongside guy johnson at our european headquarters in london. take a look at the equity trade today. we have red arrows across the board. we are not talking about harsh moves at all. you could call the stoxx 600 little changed right now. utilities, materials, weighing on the index. so financials at the top, with those two gaining, maybe that is a good sign for equities. we see very little movement in the european equities. you see my imap right now, which is how i knew that. andfinancials -- i.t. financial skating. i love the imap function actually. that is what i have been using for a few years now. beneficial is preparing for next week's policy meeting will

and u.k. economy though there's been major changes since the vote last year the need to be addressed so the u.k. economy has had its ups and downs since but it didn't exactly were react the way that many antibiotics it activists expected i mean in two thousand and sixteen when the vote happened and from the vote and throughout the rest of the year it was fair pretty well you know wasn't a possum little bit old pretty well yeah it held well that's a better way of putting it in twenty seventeen is when they started seeing slower growth and you know for several different industries were hit especially when we learned that some countries or excuse me some companies were thinking of leaving the u.k. and putting their headquarters elsewhere in the e.u. and we saw the competition for finance capital and so on but to circle back to to trade for a second. we saw with the bharti a and boeing deal that was basically two recent days first lesson learned about dealing with trade issues without having the b

citizens are generally really worried here in the u.k. because you just don't know how this is all going to pan out so the reason may for example has said that in detroit in the transition period people would need to dredge just. in preparation for this wreck said and we still don't know how it's going to look like as barbara has said so we still don't know after this so-called transition period what are the rights and will people maybe have to pay if they want to send their children to university how about health care how about pensions so all this is really hasn't hasn't been touched and maybe you can expect her to touch on this in a speech like this as well but also the question of the chords she says that the u.k. will take into account the european courts but what exactly does that mean so who is going to be the arbiter about of any court challenges so not very clear as far as you citizens' rights are concerned we can't view any speech that that is made by the british prime minister without a bearing in mind the fact that she has a a

and the u.k. well that's an uncomfortable truth ok that's not resolved in this discussion or i but this from the south china morning post a slightly different take to the one we're getting in mainstream media about the dreadful reinjure refugee crisis it is a very interesting take the south china morning post as new diplomatic missions signal china's support for. the crisis now this is a complex story because it involves a nobel peace prize winner who is the acting leader of my own mar she doesn't look to some nights he's taken enough of an initiative to try and deal with the issue now china established its first diplomatic liaison office last week in the country there which is still struggling to attract foreign diplomatic missions even the placed yangon where most new one is and this is a new one says the first diplomatic mission but isn't the point here that when the burma is a military government was abusing the human rights were violated western interests chevron they were all there nothing w

u.k. labor leader jeremy call been calls out neil liberalism of britain's trade union congress conference we are asking is shadow chancellor richard book about greed nationalizing justice after decades of a neo liberalism and who is regulating the regulators we speak to award winning broadcaster national treasure no one edmonds as he fights financial regimes on the tenth anniversary of the collapse of britain's middle the world bank and from the headlines will review the claims of payoffs in caracas and the right royal bum on the freehold free for all all of them all coming up in today's going underground but for us it's arguably unsurprising that today a tory british prime minister like to raise money should have a defense secretary address one of the largest arms dealing festivals in the world before donald trump's three hundred fifty billion dollars deal with saudi arabia now threatening tens of millions in yemen there was out of courtesy of want to raise maize heroines. this was the mo

considered a direct threat to the u.k. by the intelligence agency m i five and five hundred of them are under constant surveillance just yesterday the u.k. home office said that the number of terror to the arrests in britain raised sixty eight percent between june twenty sixth seen in june twenty seventh and the figures include arrests made after previous u.k. terror attacks in london and manchester two this is the fifth terror incident in the u.k. the sheer. ok well to discuss this a bit further when i joined by a former police officer from the u.k. peter kirk and he joins us good evening ching peter we just did this is the fifth terror attack in the u.k. this year despite everything that said it does seem that an awful lot more can be done to stop them is that fair. it's very difficult to stop these sorts of attacks they're not all the same type of attack they're not or not all on the same types of venue they're not all by groups that are connected with each other it's almost impossible to prevent these sorts of things w

making at the fifth in the u.k. this year. also had the store team used to be used migration chief change of heart on border controls in the shandon area after calling for checks to be dropped saying about the block may still need protections. young young foreigners a ballistic missile over japan the second time in just over two weeks this comes after a side career carried i drilled simulating a strike on a north korean military bunker. live from moscow this friday evening just after six pm here with r.t. international my names you know neal. we started in london the number of people injured in a bomb blast on a chub train in the soft west of the city has now risen to twenty two police are treating the attack as terror related witnesses reported seeing a fireball terror through the cards. officers say though that the device only partially detonated on mt the destruction could have been far worse. than this. place takes. it's. just what is gnostic memory of the baby in a cot with the mom. if. the matter has been declared a coun

citizens in the u.k. are generally very nervous they don't know what's going to happen will they be x.'s able to access health care what about schools what about universities what about family members that they might want to have in the country and get put into the country for example older relatives so all this is still is to worry for them and we've had on twitter we've got we've had representatives of these of these groups and they still don't know what does she mean it's a considerate tone but really all right it's going to be guaranteed and then who's going to look after them many people are hoping that it's not the u.k. courts but that the european court will play play a bigger role so again also here people are waiting for more concrete proposals and just quickly back to brussels barbara another very hot issue the exit bill that britain is going to have to pay before it leaves the e.u. theresa may saying britain will honor the commitments it has made what are people in brussels reading into that. i

and the u.k. all missed specific funded targets they had already committed to the united states is announcing our leaders contribution new funding specifically to support schooling for three hundred thousand refugee youth in jordan and lebanon on steps first of all i would like to thank countries like jordan lebanon and turkey who are willing to accommodate this people they need our support for twenty sixteen the federal government will lead to pledge one point one billion euros for the humanitarian aid programs under united nations that was winter two thousand and sixteen when the school year began host countries in jordan and lebanon were both massively on. funded winter two thousand and seventeen same problem of course it's not entirely the donor spalt certain policies of host countries have also created obstacles in some turkish provinces the syrian refugees face delays in getting the identification required to enroll in public schools and lebanon hasn't even issued a work permits to syrian re

and u.k. economy though there's been major changes since the vote last year the need to be addressed so the u.k. economy has had its ups and downs since but it didn't exactly were react the way that many antibiotics it activists expected and that in two thousand and sixteen when the vote happened and from the vote and throughout the rest of the year it fared pretty well you know wasn't a possum little bit old pretty well yeah it held well that's a better way of putting it in twenty seventeen is when they started seeing slower growth and you know for several different industries were hit especially when we learned that some countries or excuse me some companies were thinking of leaving the u.k. and putting their headquarters elsewhere in the e.u. and we saw the competition for finance capital and so on but to circle back to to trade for a second. we saw with the bharti a and boeing deal that was basically maids first lesson learned about dealing with trade issues without having the backing of t

precedented threats and i'm pretty sure that the u.k. prime minister it's a reason why it's going to be facing questions what the security on london underground has been overlooked in the security of. a country terrorism expert doug weeks sees more. to protect major cities from terror but social changes are needed . and points and government are really struggling to try and get their hands on this to contain it and something that is potentially not. not containable at least without some very serious security measures put in place you can't bring a semi like london to its needs and stop everything that goes along here in just. a land so i think when we start thinking about taxing the long term i think we need to start looking at potentially more. solutions rather than something. that mean primarily one of the social nature and where we can hopefully start swinging some of these individuals from carrying out the attacks and do well they did up another busy time in the capital during rush hour meaning more and more people have been sharing

we have big breaking news from the u.k. the u.k. government has decided to refer the deal to regulators. we heard from them yesterday in parliament. the reason she wants murdock to be under further scrutiny. that means we don't know whether the deal which is worth 11.7 billion pounds will go through. it is the biggest investigation into the record of murdoch's as owners. we'll have plenty more on that next. this is bloomberg. ♪ francine: this is bloomberg "surveillance" with tom and francine from london and new york. economic misses reported on today. something is doing the rounds in washington, especially in the corridors over the white house. this is a fact that president donald trump has blocked a chinese-backed investor from semiconductor. let's gets more on this with our bloomberg business correspondent stephanie baker. also staying with us, davide serra. this is actually excite a big deal. talking about a possible trade war with china. how will the chinese take this? >> i think they are taking it badly. we have seen it given

the u.k. prime minister prepares for a crucial speech in florence. can she break the deadlock? north korea ups the ante as it hints at a hydrogen bomb test. as angela merkel and martin schulz slug it out. inace for third place sunday's election that will determine the outcome of the german government. good morning. i'm francine lacqua in london. we have great guests to talk about your markets by your politics and the economy. but first things first, let's quickly check on what the data is telling us. if you look across assets, it is very clear that stocks are down the touch. they actually recouped some of hatir losses -- under news t north korea is ratcheting up its threats against the u.s. the yen stay put. i'm uncertain about how to trade yen. it would be one of the countries in the line of fire, if something were to happen in the korean peninsula. treasuries retreating. the dollar falling for the most in two weeks, on the back of north korea. wti. we just spoke to nine a jury in oil -- the

serving members of the u.k. military have been detained in a pre-planned intelligence led arrest on suspicion of being members of a band neo nazi group called national action. this is been confirmed by the ministry of defense the army as well as police who have explained that the men had quote been arrested on suspicion of being concerned in the commission preparation and instigation about's of terrorism under section forty one of the terrorism act of two thousand and one specifically on suspicion of being a member of a proscribed organization which is national action simply put the men were not arrested on suspicion of necessarily planning an act of terrorism but rather for being members of this group which is illegal under the u.k.'s terrorism laws and membership in it is punishable by up to a decade behind bars there's been no further clarification of what exactly the four soldiers had been up to as of yet no national action which describes itself as a nationalist socialist youth organization was established

u.k. time. the white house has begun an internal review of its staff the use of private emails for government business. reported that private emails accounts used by about -- byump enter husband even a trump and her husband are of interest. whenrvatives don't agree the prime minister should quit, but they agreed it should be before the election. leave juste should before the next election in 22 -- 2022. regulators are working to find a solution to asset managers and banks that will be stuck between u.s. and european rulebooks. bloombergley told that he is urging financial institutions to prepare for the new role. -- for the new role. >> that will be pretty for messages going out saying you haven't made any progress. -- onturn up on outdoor outdoor and ask us to solve the problem. -- on our door and ask us to solve the problem. we have been very much focused on what we need to do to make sure the markets are functioning effective. juliette: you can catch the full interview with andrew baile

and the u.k. she's trying to say that even after breakfast it u.k. shares a common cultural and historic identity with great cities like florence and the rest of the continent but the view from brussels is that she is simply demanding the best of both worlds and that can't be allowed to happen. these protesters many of them british citizens living in italy believe rex it is a big mistake the british people were never informed of all the reasons about the whole issue and i think now is the world gets smaller it becomes more and more important for us to be together and be unified and i think it can be very very difficult for the u.k. going forward and i think it will be a decision that we will regret your future thank you to resume a wants to refrain breck's it is a historic moment focusing not on the differences between nations but on political vision but with questions still remaining about the u.k.'s border with the republic of ireland the status of a united living in the u.k. and exactly how much britain will pay to leave the e.u. it's a vision man