just let us in europe are low. we're venue in these period of the year high of the new winter season and did a lot of concern for the traders because people now expect a potential gas crunch in the winter should be. but, you know, you're also arguing that the way in which the european gas market is structured is, is also a fault weinstat. well, over the last years, the european gas market at become more modern, let's say it moved from a traditional structure of oil indexation in gas contract to a spot market, 80 percent of the european got. so they traded on up is a spot market disease. of course, giving great flexibility to the market is a good thing. but in this particular condition, if for the pressure on the situation, because europe is not the longer the work, asia demanding a lot of n and g, and the economic recovery is also happening in asia. and therefore, europe as to pay more and more for the gas it was to get. and the 2nd suppliers, like russia, for example, talk about their willingness of favoring a mar

it's not just a problem for europe. the rest of the world could go without as rich countries corner the market in a similar way to the vaccines. this year alone, new york natural gas futures are up 106 percent to a high of $5.20 for $1000000.00 british thermal units. it's highest in more than 7 years. but the equivalent gas in europe and asian markets costs $25.00 for $1000000.00 british thermal units. storage sites, a less than 72 percent full. that's the lowest in a decade. or knock on effects. a huge cf industries holdings. one of the was biggest fertilizer groups has been forced to close to plants in the u. k, sparking fears of a looming shortage of ammonium nitrate that could hit food supplies and a shortage of carbon dioxide production could hit the meat to soft drinks. industry will gas is also used a power electricity generation. unsurprisingly, prices of soaring in that market to several energy suppliers have already collapsed in the u. k. governments across europe preparing to hand up money to households the c

and europe trading hours. guy: are you basically saying that this announcement is part of the evergrande response? meltem: there is certainly a linkage. they are concerned about stemming. guy: great stuff. thank you very much indeed. the coin shares chief strategy officer. alix steel got it right. i got it wrong. alix: that never, ever happens. i will take a moment and do a victory dance. [laughter] guy: you have done the dance. this is good. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. guy: we are wrapping up a week in europe like we started but not quite so bad. europe is tradin

can you convince me that europe has a common position? to me, it's absolutely clear that the eu will be one of the leaders of this climate agenda. the green new deal is probably the most ambitious throughout the world. we're very, i think, aware of the need to undertake these changes in the coming decades. we have no time to lose if we think about the young, future generations. from this point of view, also, spain is strongly committed, so we have to ensure... spain is, but what about poland, for example? it's refused to sign up to some of the big commitments made from brussels. no, actually, i think that, you know, what we have seen in the last couple of years is, and in the context of these recovery plans, and when we are talking about investment in the transition in order to make it a fair transition, i do think that poland and other countries that have been very reluctant are definitely making progress. well, unless you know more than i do, the poles have simply refused to sign up to the net zero by 2050 commitment. they just won't ac

and asia into _ supply—chain comes from europe and asia into europe, and that is bogged down _ asia into europe, and that is bogged down by— asia into europe, and that is bogged down by the necessary import bureaucracy at our ports of entry. the antithesis is also true, so the stuff— the antithesis is also true, so the stuff we _ the antithesis is also true, so the stuff we sell into europe, which there _ stuff we sell into europe, which there is— stuff we sell into europe, which there is a — stuff we sell into europe, which there is a lot more then we get credit— there is a lot more then we get credit for. _ there is a lot more then we get credit for, that has the same issue in europe — credit for, that has the same issue in europe and after germany told france _ in europe and after germany told france to— in europe and after germany told france to get back in its box and allow— france to get back in its box and allow this— france to get back in its box and allow this to happen, then it seems to be _ allow this to happen, then it seems to be working quite well. bu

battle lines drawn in europe. finance ministers diverge on whether spending limit should be imposed. u.k. growth grinding to a heart as the delta variant hits the reopening and consumer spending stories. today we are down a little. we are down by .2%. it has been a flat week, that is the best way of describing it, in aggregate, with a lot to talk about europe outperforming we already have seen that. crude caching a bed. up by 1.8%. alix: all metals catching a bid. we were talking about national gas, aluminum, getting a pop and upgrade. nickel moving higher helping the s&p materials sector, the outperformer. when -- after that you get infotech, consumer discretionary and communications doing well within the s&p. the overall indices lose a little bit of steam and it is basically one area that is helping to uplift the market. bond yields are moving a little bit higher. i do want to highlight the golden dragon index, that is the china listed adr's in the u.s. up point 3%. the headline that just crossed is that the bid

really the epicenter in europe. in days past, maybe europe would look to the u.s. for a little bit of help. at least the energy industry here is in no position to actually really do much of anything. taylor: friday at 1:00 p.m., our long-awaited breakdown, but i know you are itching. every time it comes out. it sort of brings up a bigger issue, which is how can the u.s. bailout other people when we ourselves have not quite figured out the correct supply and demand dynamics as well. oil and gas rig counts as well, it has been on a slowly long-term projection a little bit of a decline. let's do all of this and more with campbell faulkner, the chief data land -- the chief data analyst. he formally worked in data analysis at jp morgan. equipped to help us address maybe risks on the horizon and how are you thinking about the u.s. as an lng, nat gas exporter. but already a pretty low count here to begin with. campbell: it is tough. the rig count has been trending down. we have replaced rigs with more efficient rigs but we are just not really drilling. we had 99 last week

it's not just a problem for europe. the rest of the world could go without as rich countries corner the market in a similar way, vaccines this year alone, new york natural gas futures are up 106 percent to a high of 5 dollars 20 for 1000000000 british thermal units. its highest in more than 7 years. but the equivalent gas in europe and asian markets costs $25.00 for $1000000.00 british thermal units. storage sites a less than 72 percent for that's the lowest in a decade. or knock on effects. a huge cf industries holdings, one of the world's biggest fertilizer groups has been forced to close to plants in the u. k sparking fears of a looming shortage of ammonium nitrate that could hit food supplies and a shortage of carbon dioxide production could hit the meat to soft drinks industry . what gas is also used to power electricity generation. unsurprisingly, prices a soaring in that market to several energy suppliers have already collapsed in the u. k. governments across europe preparing to hand out money to households to co

for europe, there is still a threat from china. that is seen clearly. the eu should not be trapped into going to a chinese owned mine or porsche in africa or -- port in africa or wherever. some have said defensively, they have troops that add up to me the equivalent of the china news. -- chinese. i attended there is summit three years ago at which, the chinese prime minister astonished everyone by saying that china favors european integration. they want a single currency which shows you can be nice to the people you are listing. it is a complex situation but not a hard-core on in terms of is this for america. one thing that is happening and you have alluded to it is a quest for relevance and credibility. we have the eu picking up something davis said that people want to put in eu flag on everything. they are under pressure to deliver for the systems and one of the things it feels it should be able to be better on is physical hard security. that is part of what is driving this conversation. natassia: i see that you are agreeing with nicholas. in terms of

and it is about europe itself. so i think we need to be very mindful also of the interest of our allies in the region here in europe. i've given you say that what are the implications of this open august packed when it comes to europe's own security future? that is what we are going to have to look at over the next 18 months. how exactly the going to shape up? how much of a compliment is possible? how much bye, and it's possible going to be supported in general, a stable and secure in the pacific region is in europe interest. so how can you support these methods? how can technology cooperation be supported? how can cooperation between part that's in the region and that includes japan, australia, india, even foster, even more. this is in europe interest in general. so also the quad meeting, looking onto it. this is something that is not against europe in any sort of fashion, but stabilizing the region and pushing back against funding. that is something that is very much to europe and interest. it is clear that the u

on that front, europe has done quite well. we have over 70% of the adult population that is completely vaccinated in the euro area, and some countries are in excess of 80%. that has been a significant boost for growth and has helped governments not go back to these stringent containment measures we had seen previously. david: during covid, were you working remotely, running the bank from one of your homes or from a home somewhere, or were you going into the office? ms. lagarde: i spent quite a few weeks stuck in my frankfurt department during the first wave of covid. the very sizable package we put together for monetary policy purposes was engineered around my kitchen table. subsequently, when things were more flexible and we could move out, i went to the office a bit. but the by default solution is remote working still today, and probably until the end of january, and then we will see. david: you should take that kitchen table and move it to your office. it was very productive, right? post-covid, do you expect europeans will

this is "daybreak: europe." ecb policy makers sparring over ending stimulus amid a rise in inflation. stocks are mixed as we position for the u.s. jobs report. chinese taxpayers some gains as ride-hailing companies come under criticism. we will hear from president xi jinping. opec plus sticks with plans to supply hikes. perspective from -- of energy aspects. i want to bring your attention to the positioning of two of the biggest, most important central banks. a terminal chart showing what is happening, in terms of a yield differential narrowing between the pboc and the fed. when it comes to the benchmark, the u.s. 10 year and chinese 10 year. chinese 10 year 280. the u.s. 10 year at 130. not near the 70 highs we got earlier for the u.s. 10 year. but those of you coagulating coming to the idea that 150 is what you get come the end of the year. china is different. pboc pumping about $40 billion to $50 billion into its banking system to support sme's. that is playing into the bond space. 280 on the u.s. benchmark.

how europe getting on? so walls. how europe getting on? sr often in these matches we walls. how europe getting on? srs often in these matches we talk about the importance of momentum and certain is with europe at the moment. that was a flying start for them to take the morning session 3.5 points to a half, charley harlot with her record to her career and now... into the afternoon, europe head with three out of four matches, donein head with three out of four matches, done in one. the match they are trailing in, nelly korda and ewing trailing in, nelly korda and ewing trailing after eight holes... but other three matches europe are ahead and with a little daylight as well in each of those three matches they lead two holes.— lead two holes. brilliant, an impressive _ lead two holes. brilliant, an impressive start _ lead two holes. brilliant, an impressive start for - lead two holes. brilliant, an impressive start for europe. lead two holes. brilliant, an - impressive start for europe. ian carter, in ohio, t

anna: coming, europe's energy. governments get ready to step in as prices keep breaking new records. ♪ >> this is going faster than we thought, to the point where we will have pre-covid-19 levels before the end of the year, 2021. we anticipated it would be early 2022 at best. anna: christine lagarde there. more from that conversation throughout the day. europe is in the midst of an energy supply crunch as prices spiked to record highs. low fossil fuel inventories and weak winds have pushed gas prices to unprecedented levels. incredible charts around the gas market. italy, france, and spain are all considering ways to ease the impact on consumers' electricity bills. for more, bloomberg's energy reporter. good to have you with us given how much focus there should be and probably will be on the story. european gas prices have surged to record highs, but this might not be over. can they go higher from here? >> as you say, we are seeing almost every day and new all-time record high being set. european prices have surg

what do you need to know out of europe? what we are watching is energy prices continuing to absolutely shoot higher. gas and electricity prices surging in europe. power prices in the u.k. hitting another record today. benchmark german price is trading above 100 euros, the first time that has ever happened. u.k. regulators recommending 12 to 15-year-olds get a first shot of the pfizer vaccine. the latest polls out of germany. we will be live in berlin with a breakdown of this weekends debate. let's talk markets and show you what is happening. keep an eye on what is happening with that gas price around europe. today another 5% higher. take a look at the long-term chart. it has gone parabolic. stocks a little bit positive today. we had five days down. we are buying the dip a little bit here in europe. it was a little while before people stepped back in again cautiously. maybe some buying coming back. alix: same thing in the u.s. five down days for the s&p, now higher in part because of energy, up about 3%. all of the best perf

, the necessity as moving forward in europe. europe is a very diverse country. so i think you can actually expect a lot of continuity and say there's a recognition that there's a need to change. the specific policies to deal with that change are not really clear. and everybody, for instance, thinks that this policy needed to deal with climate change to your, to emissions every exactly the mechanism by which that's going to be achieved. because it's going to be unpopular. i think putting up gasoline prices will bring up each in crisis. and you saw the reaction against that in france with the julie shawn. so there's a lot of debates in the coming weeks and months since the government is formed about exactly how that strategy is going to be implemented. you know, a mad one of the interesting things we look at the 2 major voting blocks in 2017. it was different now that we see that miracles blocking took a slight electoral defeat here. but i don't see that, you know, again we've, we've mentioned the u. s. in france and all that, it's so contentious, i mean, you woul

europe does not have much of that. today we are going to see the rebalancing of the dax which could pull in some of that growth and make it less cyclical. they will expand the dax to 14 and pool in some of those names. at the margin it may give europe an opportunity to talk about growth. we will see what happens later on. we will get the announcement later this evening. the performance looks good. tech has been the dividing line between the united states and europe. kailey: let's get more insight into that rebalancing. we are joined by bloomberg's jp barnett. talking about the growth we could see in the dax. what name specifically will bring that? jp: there are a couple of them. two i like our technology stocks and that we have food delivery stocks. we also have different kind of technology companies coming in and the server -- in the form of siemens health. technology and health care equipment. that is something that could enrich the index which in germany's very industrial heavy with big companies like siemens and al

it's not just a problem for europe. the rest of the world could go without as rich countries corner the market in a similar way to the vaccines. this year alone, new york natural gas futures are up 106 percent to a high of $5.00. 20 for 1000000000 british double units. it's highest in more than 7 years. bought the equivalent gas in europe and asian markets costs $25.00 for $1000000.00 british thermal units. storage sites a less than 72 percent for that's the lowest in a decade or knock on effects. a huge cf industries holdings. one of the was biggest fertilize groups has been forced to close to plants in the u. k, sparking fears of a looming shortage of ammonium nitrate that could hip food supplies and a shortage of carbon dioxide production could hit the meat to soft drinks industry . what gas is also used a power electricity generation. unsurprisingly, price is a soaring in that market to several energy suppliers have already collapsed in the u. k. governments across europe preparing to hand up money to households the

trade is most of within europe. germany through its exports sector has a link to china and the business cycle and how monitory authorities in the government in china will continue supporting the chinese business cycle. then a number of mitigating factors. we are positive on the german economy and the german equity market. francine: you have important reports on women in the work place. and the effect the pandemic has had on gender diversity. what is the most significant thing you are seeing that could impact the value of investments? dr. hechler-fayd'herbe: for women, the most important thing to realize is this is an investor group that is exposed to fixed-income. this is the most prevalent asset class. we have been speaking about the increase of yields. reviewing that in the light of the new episode ahead of us is critical. and making sure they are sufficiently exposed to equities as a sort of capital growth. it is critical, women are coming back from a timing covid where they have drop out of the labor force entir

. _ pear-shaped for europe? on paper, i think we were... it _ pear-shaped for europe? on paper, i think we were... it was _ pear-shaped for europe? on paper, i think we were... it was a _ pear-shaped for europe? on paper, i think we were... it was a tough - pear-shaped for europe? on paper, i think we were... it was a tough ask. l think we were... it was a tough ask. they were all in form, or most of them were. theyjust played slightly better than we did. there was certainly closer to the whole, but at the end of the day, it was such a fickle day. such narrow margins between winning and losing, and the americans, it was their time this time. i think it's a bit cyclical and it's difficult to be any more critical than that.— and it's difficult to be any more critical than that. how do you think euro -e critical than that. how do you think europe start _ critical than that. how do you think europe start to _ critical than that. how do you think europe start to rebuild _ critical than that. how do you think europe start to rebuild from - critical than that. how do you th

the stock europe 600 is gaining. 30 minutes into the session in europe. the u.k. in the ftse 100 concerned about energy crisis at the moment. over in germany, you can see gains at this stage. the cac is up. we are talking about the geopolitical spac the ecb remains a focus for many investors. the central bank is way up in inflation. in the sectors, how things are breaking down. energy was at the top of the list and utilities were the problem. travel and leisure, 82% so far. at the top of the list. supply chain constraints still at play. you are seeing basic resources down. that is how markets are shaping up 30 minutes into trading. anna: let's get more into the energy crisis. limejump ceo catherine newman joins us. your thoughts on what is driving this and whether you see it coming down anytime soon. catherine: it is unprecedented times. we have low gas coming into the u.k. very low wind output, huge amount of altitude across the board. another two gigawatts disappearing from the u.k. markets, driving prices higher. on tuesday, there was an auction -- a record hig

than, than europe. i think because of the, as you have from the platforms like, you know, once we, we talked about kind base, kracken and etc. in europe, it's more fragmented and therefore it's easier for the central bankers to control what's going on your client base and crack and are essentially competitors of painting. yes, they are in the us in europe. we, we can be your inventory will become the leaders in europe, but for, for now, we need global companies and europeans failed to make create local shames. right. and is that simply just as a protection of the legacy system? yeah, it's the pro, it's protection that we're working with in europe because as i said, the political power is fragmented. so it's even easier for central bankers to control petitions because they are just local leaders. and they are working on the constraints of lots of treaties. whereas in the us, there is a more sense, centralized power, political power. so that's somewhat perhaps more independent because my password, because

is the structure in europe the same? can we see the same kind of wage increases as quickly as we have seen in the u.s.? peter: that is a key question. in the u.s. there is an inflation risk. there is a risk. you have to be ready for that. if inflation proves to be higher than expected than there would be a big reaction. this point you have a big adjustment and asset prices on the bond market. for the ecb the question would be trying to shelter, trying to avoid the spillover from the u.s. that is the first point. the second point is the inflation situation in europe is quite different from the united states. when the covid shock came the economy was not performing very well. there was still a lot of slack in the economy. it is a very different situation from the u.s.. it seems to have gone relatively well compared to what was expected, but it is not a reason to change the policy, especially with the ecb strategy, which implies the persistence of monetary policy to reach the 2% objective. if it goes faster because of a sup

as it deepens over a security deal between australia and alliance members, britain of the us europe worst energy shortage in decades rattles the you politicians with consumers facing a truly wind without fuel. so that's a familiar scape goat was lawmakers demand that moscow pump. small gas also ahead but the way the story has captivated the nation has many wondering why not the same media attention when people of color go missing? well, the answer actually has a name missing white woman syndrome review as a police on a massive manhattan for the killer of a 22 year old white woman, national park, mainstream media focus on whether her race is the real reason why there's such a public outcry ah, hello, live and worldwide, this is the international from moscow. my name is colleen bray. welcome to world news this. our 1st and nato members are calling for a review of the alliances strategy. as the crisis grows over, a new security agreement between the u. s. u k and australia. amanda france was unceremoniously nudged out. its defense chief says political dialogue between nato states as all but

and it's not a question of going to china. china is coming to europe. they have invested in over 10 percent of european ports. we've seen russia, china maritime exercises in the mediterranean, in the baltic. we've seen like fire exercises with them off the coast of clinical, near clinic grad. so i think that, you know, europe doesn't have this kind of the goober laying back and thinking china is far away. it's happening right here in their own neighborhood. well, you spoke there a little bit about the context of the u. s. while pulling out and pulling back in certain parts of the world, particularly obviously, and i've got to start over the last few weeks. david, this was, is a us lead mission node that started with counted terrorism became nation building. really, the europeans were always there because of natural law, school 5 out of solidarity with the u. s. so because this was always a washington initiative. why is it that you feel quite so betrayed at the moment? well, it's a good question. i think it's because of the way in which the withdrawal wa

europe at the eurasia group. if we could start by going over relatively recent old ground, france has said it has been stabbed in the back. what on earth were these allies thinking? were they not thinking at all? was this a deliberate ploy to keep france in the dark or apolitical snafu? guest: i think you're just will be able to speak to how the french perceives what happened. the reaction from paris is driven by four factors, trust and integrity between allies, and that clearly in this instance was not the case. friends does have substantive interest in the indo pacific region. this disagreement cuts across in a direct way. the political economy angle, the loss of the contract, i think that is not as important a factor driving is reaction. it is a feature macron needed to get out on the front foot and certainly speak to public opinion from his side, but i do not think the reaction was intimated by domestic politics, but how the french feel in terms of what allies were doing, it is a combination of opportunism on

it is "daybreak: europe." germany in limbo. experts warned we could see months of coalition wrangling as yesterday's elections leave the spd's olaf scholz inches ahead of the cdu. the evergrande fallout spreads. investors join thousands of chinese households demanding on the back from the embeddable -- embattled developer. plus, the energy crisis goes global. the u.k. considers drafting the army to get fuel to petrol stations. chinese homes to cut back power usage. good morning. there is a smorgasbord of risk to hit these markets. you and i grappled with the dominant narrative -- is it evergrande, the fuel crisis, is it a fast fed paper -- taper? or is there a global re-rating of rates? good morning. dani: good morning. i would say if you look at all of those, you could make the argument that rates is the least. energy is going to be short-lived, rates is a global market move. we have central banks in coordination starting to tighten policy. manus: absolutely. the new bond market tantrum. yes, the fed must tighten first, that's

europe bonds declined. opec-plus meets, delegates expect the group to stick to planned output hikes as they see global oil markets tightening later this year. president biden defends his withdrawal from afghanistan, saying it saved american lives. welcome to wednesday, 7:00 here in london. what are the market saying? mark: i do not know if it is the change of the calendar month, the there seems to be bearish fatigue in asia. over the past month people were upset about the slowdown in growth and the chinese crackdowns, but the delta variant in asia. suddenly the narrative has changed. we knew this would happen come september when we got beyond jackson hole. without any real catalyst, people see the time to get back in or buy, they are still debating it but the narrative seems to be turning more positive at the margins without any real major driver. anna: the first of september, that is all it takes it seems. you can see for europe it has picked up with enthusiasm, the turn in sentiment you reference. futures

it is an interesting story in europe. the operation first commenced friday the 20th of august and our wing commander noted we had a lot of volunteers. on that day, doing a lot of great work, we had 20 or 30 volunteers and we were pleased to note we had 30 volunteers. several days later, the 30 volunteers grew to hundreds of volunteers and today, as we stand across europe we have thousands of volunteers doing everything from helping with food items, clothing, serving as counselors, assisting with security. they are tremendous force multipliers for us in there helping maintain order in the area day in and day out. since the operations started we had you come have processed 155 inbound flights and have taken care of 38,000 afghan evacuees. on the ground at this moment, we have 12,000 afghan evacuees at ramstein airbase in germany. 5000 evacuees and ordinance barracks in germany, 4500 evacuees at naval air station signaling, italy and 1000 800 afghan these in spain. since friday the 20th of august when the operation started,

renault le maire saying europe has to fix -- bruno le maire saying europe has to fix that. the dax undergoing a big revamp, the biggest since the 1980's. the industrial heavy dax getting a little bit more blood. the online fashion retailers, hello fresh, and 10 companies all joining the index. what does it mean for traders? he is in frankfurt. how significant are the changes? >> pretty significant. the biggest since the dax was introduced in the late 1980's. this all started a year ago when the company collapsed while being in the index. he decided to make a couple of changes, with new measures for companies to post a profit before they can join. the final step was they added two new members and among them are a couple of both stocks. the index gets a little bit new dna and a fresh taste. tom: what is the impact likely to be on the companies that are joining? >> i would not overestimate it but it is good to be in the big index with all the money we are seeing flowing into etf's and institutional money. a little bit more visibility and investments and it's always nice if you

u k. destroyer also to come europe worse, energy crisis in decades rattles the politicians with consume is facing a chilly winter with fuel. but it's a familiar escape going to make his demand that moscow pump small gas. but the way to story has captivated the nation has many wondering why not the same media attention when people of color go missing? well, the answer actually has a name missing white woman, internal with us please on a massive man hunt in the suspected murder of a young white woman, mainstream media focused on whether her right is the real reason why this being such a public outcry. ah, hello, good morning, just go 9 o'clock in the russian capital. you're watching artie international. nato members are calling forever view of the line says strategy. the crisis grows over a new security agreement between the u. s. u. k. and australia. it's paris left act of the loop. francis defends chief says that political dialogue between nato states has disappeared. let you to does. it says you near the attitude of the united states toward the submarine program is a southern associati

so i need to expansion in eastern europe as well. so it's rather late in the day to suddenly wake up to the fire. the nato has rather changed the organization concerned with protecting western europe in the north atlantic, as it was in the cold post. 945 cold war dorothy long gone. and it also how much is important. france isn't this. that, for instance, employ a status in europe which have got military capacity of any real fe that's friends in britain and france and britain have been strictly close the united states. however, when push comes to shove it, as we've seen with this new new deal with a strip and the nuclear submarines, britain is always a little bit more trusty, always a little bit more special. i don't exaggerate the special relationship based for the choice to france and britain, i think because it always take the bris. so there's a limit to how far friends can persist. clearly very, very annoying about australia deal with by the diesel submarines and they're going in with britain and america to get new cars. some reas

than europe it must be said. it's a bit of a double, we think it is a temporary phenomenon, those base effects will fall out, the bottlenecks will be resolve. the risk is that we don't know the timing of. this it could take some time before those inventories are replenished. what we expect from the e.c.b. is a doveish stance and start to look at purchases there. tom: do you think that's what the austrians and dutch are looking for? they are starting to be concerned about the trajectory of inflation. they think the economy is on a surer footing and are calling for this discussion come september 9. should the market which market assets or which assets will react most significantly do you think to something that looks slightly more hawkish from the e.c.b.? >> i think all central banks of the big central banks and developed markets will take a gradual approach indeed because there is such an -- a low visible as well. you can look at all the data, but ultimately it's an unprecedented period. so therefore gradual appro

the new state of the climate report shows 2020 was europe's hottest year ever. >> one or two degrees celsius may not sound much, if you add that on top of an already warm event the heat wave it makes a difference. >> the arctic circle popped 100 degrees for the first time in recorded history. 17 countries in europe had record temperatures in 2020 and uk saw its third hottest year ever. >> how concerned should we be of all this. >> the temperatures will get more extremes, warmer extremes. >> like this year's record-breaking floods that devastated germany and belgianium and wildfire that's scorched countries around the mediterranean. while the pandemic slow down cut carbon dioxide emissions by 27%, it is down to the actions we do, climate experts say we need to act to save the only planet we call home. cbs news, london. >> and that's the overnight news for this tuesday. check back later for the launch of our new morning show, cbs mornings, gayle and tony will have a new face at the table, nate burleson, coming to you from a brand new studio in the heart of the new york city's time squa

they're not going to sacrifice that for a big if the relationship with europe, especially because europe can get its own act together. brittany won't go with the rest of europe. spain doesn't go with france and germany on half a dozen issues. i mean, you're not, you're not making any logical sense. she's spinning the woman in the leadership role. she's spending an image and i hope, but there's not much substance for us to hold onto here. ok, so she got some big dreams and were just waiting to see if they actually play out. now christy, another part here is the fact that the commission president also proposed a ban on sales of products made using force and labor taking a direct shot at china over allegations. the chinese government has repeatedly denied. now this is a criticism we continue to hear from world leaders. so how is being responding to the latest claim? i mean, this is another big show, a political theater. it shows that the west is kind of taking a hard line approach to china. now that it's become an economic powerhouse, but it still has less of a hard line than that of the us

this is "bloomberg daybreak: europe." president biden and president xi speak on the phone a med u.s. frustration over dead-end talks with china. global stocks tick higher. the ecb slows the pace a bond buying but christine lagarde insists it is not a move to wind down emergency stimulus. biden's vaccine mandate, he calls the unvaccinated a threat, and requires shots for federal workers, and pledging new rules for larger private firms. the presidents of the largest economies in the world picking up the phone for the second time to talk things through. there has been an impasse on how things are progressing with conversations at the highest levels. we have a chart showing what is happening on the trade front. xf:when president trump was in office, they wanted to reduce china's surplus with the u.s. that has not happened, the export machine in china firing on all cylinders. you saw that with the august data. almost $295 billion of exports, the biggest market remains the united states despite tariffs on hundreds of billions o

so i think that, you know, europe doesn't have this kind of. the goober is laying back and thinking time is far away. it's happening right here in their own neighborhood. while you spoke there a little bit about the context of the u. s. while pulling out and pulling back in certain parts of the world, particularly obviously in afghanistan over the last few weeks. david, this was always a us lead mission. know that started with counter terrorism, became nation building. really, the europeans were always there because of national article 5 out of solidarity with the u. s. so because this was always a washington initiative. why is it that you feel quite so betrayed at the moment? well, it's a good question. i think it's because of the way in which the withdrawal was announced, it was set out that the press there wasn't really, you know, there was consultations on an eventual withdrawal. i think. but i don't think there was consultations on the way the, the timeframe that withdrawal would occur, that it occurred over the summer that caused a lot of

now if you take energy out of that, you basically hop the europe innovation down to $1.00. so that mean energy prices in particular, natural gas which went up about 15, but just in august, a driving inflection more than anything else in europe. so the prices of the place and food and vehicles and reynolds and things. and that's all because subdued rate . energy is when you're striving natural gas. so it's a councilman, half of the place level in the european continent that's quite strong to see that. and i probably, you know, a lot of times when we talk about cor inflation versus overall inflation, we take those energy and food prices out. and that's because energy obviously fluctuate as demand fluctuate due to different season. but in this situation, when we're actually looking at kind of a shortage, should that we take more into account in inflation when you're trying to kind of decide policy based on that? well, i think policymakers like to take any price is going to make it look like reflection on there's a lot increasing this quickly reality. so yes, once you take out

on that front, europe has done quite well. we have over 70% of the adult population that is completely vaccinated in the euro area, and some countries are in excess of 80%. that has been a significant boost for growth and has helped governments not go back to these stringent containment measures we had seen previously. david: during covid, were you working remotely, running the bank from one of your homes or from a home somewhere, or were you going into the office? ms. lagarde: i spent quite a few weeks stuck in my frankfurt apartment during the first wave of covid. the very sizable package we put together for monetary policy purposes was engineered around my kitchen table. subsequently when funding was more flexible, and we could move out, i went to the office a bit. but the by default solution is remote working still today, and probably until the end of january, and then we will see. david: you should take that kitchen table and move it to your office. it was very productive, right? [laughter] post-covid, do you expect europ

power prices in europe surging to multi-year highs. exeperts say the situation is likely to get worse. >>> and the house passing a sweeping plan to raise taxes on the companies and the wealthy. >>> and moderna out with trial data making its case for another jab. >>> and liftoff. spacex making history. it is all happening on this thursday, september 16th this is "worldwide exchange. >>> good morning, good afternoon or good evening. welcome as always from wherever in the world you may be wa watching i'm brian sullivan thanks for joining us on "worldwide exchange. let's get a check of the markets and your money after nice gains. all averages gaining nearly a full percent futures not as optimistic or as much direction nasdaq futures down just a touch. you see it is yom kippur trading volumes may certainly be reduced. all this coming as oil and gas stocks surged on wednesday in part because the price of natural gas just took right off. gas up more than 5% at one point. ending up nearly 4% to $5.50 per btu. natural gas is now up 120% in just

but all the problem with the europe sound. i was just goals, matt, and talking about the migration program, the market. so just mentioned, basically there were rumors, the blue question would use migrant back in the late ninety's. i mean, i read the border so i, i asked my readers to read the frost magazine, read the news. we all got from the early to thousands late night just they have been suspected shinkel try to do that. you know, she didn't do that, but they suspected him and 20 years later, something like that happened. but when off the european boast, unprecedented sanctions on billers against the industry against the enterprise, extract him and there was so, i mean, what do you expect? the problem is that the in the west right now, the government and the media they use, they use the creek, not for sexual use. very often. they mix politics and morals. like if you want to dig the sanctions or beller, bella russia, because that's basically bill, which is a translation or the one why russia into bill or language. so if you

on that front, europe has done quite well. we have over 70% of the adult population that is completely vaccinated in the euro area, and some countries are in excess of 80%. that has been a significant boost for growth and has helped governments not go back to these stringent containment measures that we had seen previously. david: during covid, were you working remotely, i mean, running the bank from one of your homes or from a home somewhere, or were you going into the office? ms. lagarde: i spent quite a few weeks stuck in my frankfurt apartment during the first wave of covid. the very sizable package we put together for monetary policy purposes was engineered around my kitchen table. subsequently when funding was more flexible, and we could move out, i went to the office a bit. but the by default solution is remote working still today, and probably until the end of january, and then we will see. david: well, you should take that kitchen table and move it to your office. it was very productive, right? ms. lagarde: [laughter]

and had longed to be accepted in europe, and they had seen europe advancing faster than they, and they had good numbers for this stuff, and able to calculate for the spring of 1999 the total soviet food consumption level for the average citizen was about where it was in 1917. so, after the entire soviet experience, from the individual's perspective, and the caloric perspective right back where they started, and this is the early 1970s, and that ronald reagan had not come to power until 1971, and during that period, the soviets did not think anything about it, and they had brought to power a series of geriatric leaders. they had brezhnev who had been impressive, but he was far gone and then andropev, and so the way they knew that something was seriously wrong and refused to do something about it was in this following joke that you would have heard in moscow in 1980s, but if you heard it, you would have been in trouble with the kgb, but we have it nonetheless. stalin and khrushchev and brezhnev are riding on the train together, and the train stops and they look at each other, and say, ho

this is europe on al jazeera. ah, oh no 3 days it's already been told with south korea, but army a what it describes is hostile policies, a drunk ah, hello, i'm emily angland. this is al jazeera, alive from the coming up, the us ramped up explosions of haitian asylum.

so that's around half of russia's total export to europe a year. but by itself more, it's going to have the capacity to meet about one 3rd of the use import requirements. so it will definitely have a big impact once it's up and running. but currently, russian and german regulators, they're currently in a debate as to whether new regulation supply that were put in place after the pipeline was given its final investment decisions. but i look today and list don't think that the start of a flow really reduce prices and having effect the coming winter. it looks like the us going to be stuck and a lot to do some pretty high prices throughout the winter, particularly once we hit january, february and the reserves get increasingly depleted. now octavio, we know that norway has said that it would increase its exports at the same time. we're looking forward to the north stream to pipeline. but how does that pipeline play a role in this shortage in it? possibly continuing into the winter? well, i think central wilson grew pipeline. bear in mind, this is not r

the necessity of moving forward in europe for europe is a very diverse country. so i think you can actually expect a lot of continuity and say that there's a recognition that there's a need to change the specific policies to deal with that changed or not really clear. and everybody, for instance, thinks that this policy needed to deal with climate change was ready to emissions every exactly the mechanism by which that's going to be achieved because it's going to be on popular. i think putting up gasoline prices will bring up heating prices and you saw the reaction against that in france with julie shawn. so there's a lot of debates in the coming weeks and months since the government is formed about exactly how that strategy is going to be implemented. you know, mad, one of the interesting things we look at the, the 2 major voting blocks in 2017, it was different. now that we see that miracles blocking took a slight electoral defeat here. but i don't see that, you know, again we've, we've mentioned the u. s. in france and all that, it's not so contentious. i mean,

what do you need to know out of europe. is coming down sharply in europe today. but soaring gas prices were singing two u.k. fertilizer plant to close temporarily. stocks also sliding. france is furious as australia ditches multibillion dollar submarine deal in failure of a new u.s., u.k., australia strategic packed. the eu's lack of geopolitical influence. we will talk about this later in the program. ryanair stock surging. michael o'leary now sees five-year growth at 50% from pre-pandemic levels. let us talk about where equities are. we are positive on this side of the atlantic. stoxx 600 is trading higher, but it is this story that i want to focus on -- gas prices coming up. the question is, for how long. a bumpy ride into christmas. alix: it does not even make a dent in the chart over the last year. retail sales better than expected, but initial jobless claims climbing. you also had the fed new york bank survey showing that business activity in the region fell 30 points in september. that leads to more volatility. all of that messy in the market. one strategi