these are u.k.that are not rated that highly paid saying we will pay significantly more. >> smart metering going for 40% above the going share price. 10 entertainment for 33%, but also went for an all-time high which having was interesting as well. a few weeks ago we had a high-end u.k. chocolate retailer. that went for 170%. that followed two years worth of profit. we still went about halfway down. you can see with these ones they've gone for proper --. it's clear these private equity company see the value. if they are a bit willing to hand -- haggle a bit. i think the key point is pointing to the fact that u.k. stocks are cheap. and if the markets don't recognize that than they are doing well. kailey: it's a signal that u.k. stocks are cheaper but is it also a sink -- signal for example that the u.k. consumer is actually stronger than expected? john: absolutely. there's been a cloud over the u.k. economy in general. the u.k. consumer has not wilted despite the fact we have had the cost-of-living c

making news u.k.ister is defending keeping scientists in the dark over plans when he was chancellor during the pandemic at the u.k. covid-19 inquiring he said the secrecy around his out to help out policy was normal treasury practice. the house of commons is set to vote on his rwanda asylum seeker plan. right wing conservatives say deportation plan does not go far enough adding to the risks of a rebellion. he's not the only one that immigration headache. french lawmakers have rejected emmanuel macron's plan to overhaul immigration policy. members of the lower house voted for a motion to dismiss the draft law which would crackdown on undocumented workers. it's a blow to the reform agenda underscoring his inability to paschi legislation. corporate news, bloomberg understands citadels revenue rose to $8 million in the third quarter as market swings bolster training. the figure has exceeded $1 billion for 15 straight quarters and oracle slump more than 8% post markets after slowing quarterly sales growth

the u.k.h more sticky domestic aid driven inflation process than the euro area or the u.s.. that's the main thing which the bank of england will be seeking to ring out of the system. lizzy: so that's the guidance. markets are also going to be looking to the vote split for clues of the future pastor rates. do you reckon the remaining hawks will turn for a holds today? michael: i wasn't always a hawk. i think it will still be of -- a split vote. i wouldn't be surprised if the vote is a bit more clear cut the last time. last time, it was maybe one or two if the hawks would slit -- switch. the mpc will want to keep alive in the language the possibility of a further rate hike. they won't be talking about rate cuts. i think it's far too early. the strength of pay growth is too great for them to be looking to pivot to easing. lizzy: if you are on the committee still, when would you cut rates next year? how fast and how deeply? >> i would be conscious about cutting rates. they will come down next year

speaker, what the u.k. government is doing is actually investing in wales, record investment in north wales electrification on the line and record investment in communities up and down the country and it is important, mr. speaker, to recognize that just recently, just recently the u.k. government has invested hundreds of millions of pounds to its safeguard thousands of jobs at carter steel and the government does have access to the largest set of consequentials on record over the past couple years and has the resources they need. >> thank you, mr. speaker, thanks to this conservative government, the people will see over 200 million pounds to fix our broken roads, the opening of the new line and security over $30 million with smarter routes to better connect our community. however, residents have a free bus pass but are denied using it by the council and they can't get to appointments or to work. will the prime minister back my campaign to the unfair policy being imposed on my residents. >> my friend is righ

that will come up at about 7:00 u.k. time. plus, the u.k. sales numbers as well, all going to be important in terms of the u.k. consumer, also coming up at 7:00 u.k. time. the fed numbers, do we see some kind of reaction? coming up, african nations debt to gdp ratio has increased. we will bring you key conversations next. this is bloomberg. ♪ kriti: welcome back to "daybreak: europe." for the past decade, china has been pouring investment into sub-saharan africa as part of its belt and road initiative. now, the u.s. and europe are trying to catch up. our documentary explores how the battle is playing out on the continent. >> this train running across angola is at the forefront of efforts to listen china's influence on this part of africa. it is about to get hundreds of millions of dollars of u.s. investment with one goal in mind -- removing valuable natural resources from what is known as the central african belt to the west. >> more than a kilometer below my feet lies enough copper in a high concentrated form to power over 100 million elect

latest data out of the u.k.s is bloomberg. ♪ >> what the government does in terms of tax and spend and what the bank of england does in terms of interest rates work together to bring inflation down. if we had not taken those difficult decisions, we would not have this dramatic reduction in inflation today. inflation never falls in a straight line. what we want to do for families is move away from this era where prices continually go up. guy: jeremy hunt speaking earlier with bloomberg, talking about what is happening with the interest rate story. talking about the fact that the british government's plan for the economy is working. they -- we have seen a bigger acceleration to the downside. the disinflation story is getting more entrenched. great news for the bank of england. the market has now priced in 145 basis points of cuts in next year. that is a lot. they basically have 25 point hikes -- cuts fully priced in. i was fascinated to hear him talking about the fact that spending and rates policies work hand-in-

the u.k.week has been dedicated to sorting out immigration. today they unveiled emergency legislation to enshrined in law new treaties and assignment for rwanda to be paid to process asylum claims on britain's behalf but legislation is supposed to serve as a deterrent crossing the channel of those in boats. -- serve as a deterrent to those crossing the channel in small boats. but now the politician who was supposed to carry it through parliament has resigned. he says it does not give the government the best chance of success and this is a triumph of hope over experience. he says the stakes for the country are too high to not pursue the stronger protections required to end the merry-go-round of legal challenges. this emergency legislation is the last opportunity to prove this and in its current drafting, it does not go far enough, he says. that was the theme this afternoon when spoiler bravo mine address the house of commons. our political correspondent is with us for westminster. it was in the

we are going to come to the u.k. now.id inquiry looking into how political decisions were made during the pandemic is continuing. today, it was the turn of prime minister rishi sunak to aner questions. he started by apologizing to everyone who lost loved ones during the pandemic. he was chancellor at the time and has been accused by some of putting the economy before lives. the criticism centers around his month-long eat out to help out scheme in august of 2020, subsidized by the government. they said they would protect jobs in the hospitality industry, and boost the economy. one analysis says the benefit to the industry was small compared to other measures. the scheme started in august when covid cases begin to rise in september. here is mr. rishi sunak speaking today. >> my primary concern was protecting millions of jobs of particularly vulnerable people who work in this industry. all of the data, evidence, pulling, input from those companies suggested unless we did something, many of those jobs would have been at risk

u.k. there was no announcement in their run-up to it. the two sides had extended the trees a couple of times before hand, always at the last minute, but not this time. shortly afterwards, a few minutes after the deadline, israel pronounced it had resumed combat operations and that it's jets would be striking hamas targets in the gaza strip. this is not totally unaffected. israel and prime minister netanyahu have been very consistent that the war would resume. they said the ceasefire would never be permanent. that was nothing more than a tactical pause to get more hostages held by hamas released from gaza. nonetheless, there were plenty of countries and world leaders, including the u.s., that were hoping that this truce would hold at least for a bit longer. lizzy: so this was always going to be the case, but we were getting away with ourselves with our hopes. there seems to be a shift in tone by the biden administration towards increasingly stern messages about the humanitarian toll. they l

foreign secretaries in u.k. appointed a coordinator and i pressed him on opening up the shah lom crossing so we are sproasing. and i give him my assurance to get more aid to those who desperately need it. and done a fantastic job in securing more funding and i wish her also. and ensures that no child is prevented gr access of education. and travel policies but the refund can be used to support young people with transport costs and taking action. but i'll happily make sure my friend gets the meeting to discuss the proposal further. >> the prime minister will be aware of unionist concerns about the need to remove the irish seaboarder created by the protocol and disrupts the u.k.'s internal market will the prime minister to remand the internal market act and guarantee future northern ireland's unfeathered access to the internal markets in all scenarios. >> i thank my honorable friend. and i can confirm to him that the government will protect northern ireland's place. along side an agreement to restore the executive

., again, the u.k. critical for our future. >> the prime minister and chancellor want to turn the u.k. into the next silicon valley, is that realistic? >> there is only one silicon valley, it's a unique area in terms of its ecosystem, universities and how the whole thing works. does that mean it can't be imitated on some level in other parts of the world? no, not at all. the government has been doing a fantastic job, and cambridge itself is a rich community of small companies, incubators. >> what would you say to any incoming government, whether it is the conservative or a labour party government that you want to see happen? >> we are very committed to the u.k., this is our home, we intend to stay here. please make it easy for us to attract world-class talent and engineers to work for arm because that is the largest limiter we will have for growth is access to talent. if that gets anymore difficult, with a change in government that you described for the next election, that would be a headwind i would no

the u.k. done a treaty with rwanda as the prime minister seeks to get his controversial plan to fly asylum-seekers to the east african nation plaque -- pass the u.k.. let's bring it in our bloomberg correspondent who's been following james visit to the capital. james met with his counterpart yesterday, has he dropped any hints about whether he's going to take the option to implement this plan to deport asylum-seekers to rwanda? is he going to opt out of the european convention on human rights and asylum cases? >> it's a great question because it has not categorically come out in the press runs that he's done in the press briefings. here's what we know is when he was asked questions, he said that the rwandan treaty is one of the many measures of the u.k. government using to try to slow down illegal immigration. they're going to fortify their borders, they're going to partner with other agencies, for example, the albanian police and almost confiscating just to slow it down. what we also know is

in the meantime, u.k.ly have agreed to jointly finance migratory -- migrant repatriation's in africa after prime ministers sunak and meloni met in rome. joining me is alice andra -- alessandra, illegal immigration is a common issue for both of these leaders, what does this deal accomplish? >> good morning. it's kind of a p.r. basically act on the part of both leaders. this is yet another deal which we are not clear if it is going to work. you are financing people to move away. we are not clear on how that will work. they look good together, they are trying to do something that worries many voters in europe. with elections coming up next year. sunak wants to show that he is not alone in his concern about migrants. that he is a hardliner on this point and is joining people like meloni on this issue. in any case, a way to show they are doing something. we just saw there are some very nice images of them. there was also the albanian prime minister because meloni is trying to put migrants in albania. part of an

the u.k. probably first-grade ecb second and then maybe even the bank of canada ahead of the fed but eventually the fed will go. there will be more concern at some point whether they will be too hard and too tight or whether they are being too soft. one thing markets need to focus on, there's a lot of talk about three cuts next year. everyone's way ahead of ourselves. the important thing is the next move. it's not going to be a hike and we will get these cuts whether it's three or four or five. if it does not happen when markets wanted to happen, it's going to happen. the economy is not going to roll as it is rolling right now and the markets will get it, that fed boost at some point. >> it seems the only thing in common is that in certainty. if you've recently written about how rare it is for the pullback we saw yesterday and it begs the question about the role of options trading. what are the options markets telling us that spot markets are not? kristine: the message we are getting is one wa

judges ruled the u.k.ernment acted lawfully in blocking scotland's gender self id reforms, making it easier for people to legally change their sex was passed last year, but the governor of westminster blocked it on the grounds that it would affect the quality roles. the legal challenge has been rejected. yellow warnings are in place for large parts of the u.k. friday and saturday with disruption likely over the weekend. severe weather is expected in western and central england, wales, southwest scotland, and northern ireland. you are live with bbc news. the british government's rwanda policy will cost twice as much as previously thought. the home fice confirm that the bill will be close to 290 million pounds by next year, without much to show for it. so far, significantly more home secretaries have been to rwanda than asylum-seekers. the government signed a new treaty with rwanda last week after an earlier version was blocked by the supreme court. the government says it has assurances that the process in r

., europe, and u.k.be neutral in q4, because risks are now more balanced and the rate hike cycle has wrapped up. in terms of credit there is a different between -- difference between the u.s. and the u.s.. credit spreads in the u.s. are way below the historical average, very tight. whereas in europe credit spreads are actually above the historical average. so there is a preference for european credit over u.s. credit at this moment. guy: you talk about the volatility, if you have watch this rally unfold over the last few weeks the volatility you talk about, how big a swing do you think we could potentially be seeing in some of these key government bonds? particularly at the front end? how much are they going to be wiggling around next year? am i going to be able to get in and out? wei: these exposures are quite liquid, so you can get in and out quite quickly if you so wish. but the reality is, with the fed pivot they boxed themselves in. instead of recognizing there is a huge amount of macro uncertainty

our performance on in the u.k. come up with 100 futures higher 0.3% but the key to this week is no one is at their desk. so you are seeing the market kind of on autopilot for lack of a better term. little bit of a santa rally you are seeing at least for the early parts of today's trade. let's go to the cross as a picture because monetary policy still in focus. we are getting a lot of information out of various fed speakers. you have rough isla boston and austan goolsbee this week talking about the potential for rate cuts. take a look at the 10-year yield, 3.90 is where we are, down two basis points, so the bond market continuing to see a bid. pulling back from the key 4% level, there was a lot of questions about technical retracement. look at the currency market. euro-dollar 1.09, down 0.2%, a continued story, we are seeing euro-dollar keep up strength. even though today marginally weaker. one of your biggest movers, and your biggest contributor to the dollar, will be the aussie dollar. it is higher by 0.1%, but yo

travelers in the u.k.oliday plans thrown into chaos when the channel tunnel rail operator canceled all services earlier today. a judge ruled the two 16-year-old found of murdering breanna in february can be named. the pair have been referred to only as a girl asked dan boyle why due to their age -- as girl x and boy y. you could be named when the sentencing takes place in february. you are live with bbc news. away from the middle east, horrific scenes today at a university in the czech republic. at least 14 people were killed and dozens more injured in a mass shooting in the heart of prague. on one of the final days of term. the gunman was a student himself. the gunman's father was found dead at s home earlier in the day. staff and pupils were told to stay put and locked themselves inside classrooms. some climbed out onto the roofs and window ledges to escape the gunfire. all of this, five days before christmas. gun crime is relatively rare in the czech republic. tonight the country's's president said he w

what is important to say is that in the u.k.ary when we are operating in iraq, afghanistan or kosovo, all of those tours that i did, was that if you get it wrong as a soldier, you are susceptible and held accountable to the hlaw. the way the rules of engagement are and they are not spoken about because they are classified but the bake tenet of rules of engagement is if whatever you are looking at as a potential target is imposing an mediate threat to life or infrastructure, then that target is a legitimate target. what makes a soldier perceive that there is a threat? direction if someone has an ak47 pointed a the them that is an immediate threat and 245 soldier will have authority through rules of engagemen to neu neutralize that threat. if a target -- i believe there were three young men actually that were part of this. three came out of the building, two were shot immediately, a third went back in the building screaming hebrew and was subsequently shot, which makes the scenario even worse because there was time to have a pause

u.k. benefiting from that. we have a lift in the u.k. >> a little bit of a lift in the u.k., but that index is down today. marrying what the market is doing to what the ego data is doing, the manual of barclays says rising interest rates in an early cyclicals beaten-down duration place small caps in europe. maybe that defines with the moves are. that brings us to our question of the day, is cash is -- if cash is trash, what is it going into? what is king? joining now, ed, let me kick it off with you. when thinking about cuts or not thinking about cuts if you listen to williams and cash is maybe trash, what is king? >> i think when we look at a downward sloping yield curve and see this bullishness, you want to go out the curve from cash to the highest point on the curve at the longer end of the maturity spectrum. that is telling you two years, maybe three years, that is as far as you are willing to go. once you go further -- earlier today, we were flirting with 30 year at 4% below 4%. you are giving up over a pe

i'm expecting to see legal challenges even in the u.k. here wondering why the u.k.ernment is handing out licenses. christian: that has always been the important point that you make to me whenever we are at these summits. we don't look at the sock assets, the cost to the business of investing more money into an asset that they will not be able to use, will not be able to take out of the ground. i suppose in that sense, as you suggest, the language is crucially important because shareholders will be able to point to this. they will point to this and say the government is a signatory to this. we have to take this much more seriously. >> we do. a carbon tracker with a major u.k. bank in dubai invited oil and gas clients, investors to join the discussion. what i found to my surprise was that these investors are actually well-informed. they can see what's happening, they can see the rise of companies like tesla, they can see the oil and gas industry is really on this pivotal moment. you asked if i am optimistic. the only thing that i do express some concerns about is that

alix: i would argue potentially in the u.k.gns of slowdown though inflation is not as supported. i think the bank of england will be more eager followed by the ecb and the u.s.. guy: which is the market pricing correctly? where is the potential biggest mispriced? is the bank of england, the ecb, the bank of england priced correctly, the fed priced correctly? ella: on tuesday it's difficult to make the argument. i would go further out of the 10 year part of the curve. maybe for the ecb, bonds are closer to fair value, i would say. say we get recession on cuts. i would pushback a little against bonds. i think u.s. and u.k. probably still look more attractive. if you walk towards the path of resection, recession i think we get more aggressive cuts. alix: for the u.s.? we are already pricing in four or five. ella: sequencing short-term we would probably get some stabilization and potentially reprice hire in yields. further down the curve thinking towards iran for next year i would argue there is a greater risk we get 200 cuts or so

weather warnings in parts of across the u.k.er forecasters saying some areas are at risk of flooding. more than 40 flood warnings in place. some places could see up to 18 millimeters of rainfall. the senior coroners said the inspection lacked fairness, respect and sensitivity and was at times rude and intimidating. rachel perry took her own life in january while waiting for the report to be published. the chief inspector apologized to her family. the government has announced the bbc license fee will increase by 10 pounds 50. the figure was determined using september's rate of inflation rather than an average across the last year. the increased free will come in effect in april having been frozen for the last two years. you are live with bbc news. the u.s. aid budget also includes funding for israel and the palestinians in gaza. you need only to look at what is unfolding on the southern part of the strip to see why that support is so needed. the israel defense forces are in the heart of this area. the leader of hamas is believed

the form early vice present of hong kong has accused the u.k.harden ing stance toward thoe leaving the territory. case workers appeared predisposed to discredit cims after applications were rejected a scheme was established in 2021 for pro democracy hong kong. the times apologized after homes were left without water. they were worst affected and most properties have had their water supply restored. the chancellor said he was besi himself with frustration. europe's largest parking app has been hacked with people with compromised data. they have said most of the customers were in europe and names and contact information and parts of credit card numbers were stolen. sport for the bbc sports "sportscenter." >> thank you very much, samantha. manchester united in reaction for the first time since a businessman bought a 25% stake in them for $1.3 billion. they are taking on aston villa after their 2-0 loss at west ham on saturday. he is being represented by the director of sports and has a goal so far with 17 minutes gone. liverpool moved to the top of

u.k. time we get pmi data from the u.s.ed president at 5:30 is scheduled to speak on the u.s. of business outlook at harvard business school. still a busy day despite all of the central bank decisions this week, but we will discuss them with the head of european rates strategy at bank of america. the conversation coming up next. this is bloomberg. ♪ >> should we lower our guard? we ask ourselves that question. no, we should absolutely not lower our guard, and i will give you two good reasons for that. the first one is that our inflation outlook, which is one of the three criteria, is conditioned on the interest rate path that was embedded in market data at the time when our cutoff date was determined. cutoff date was november 23, so that is point number one. point number two, there is one particular measurement which is hardly budging. it is declining a little bit, but not much, and that is domestic inflation. domestic inflation is largely predicated by wage, so we need more data. we need to understand better what happens t

the u.k. follow lawsuit to block that says it is affecting 1.5. all that and more, coming up. welcome to democracy now!, democracynow.org, the war and peace report. i'm amy goodman. israel is continuing its deadly attacks across the gaza strip, with mass casualties reported in densely populated areas, including the jabalia and nuseirat refugee camps. as the death toll in gaza nears 19,000, a new human right watch report accuses israel of using starvation as a weapon of war, which is a war crime. human rights watch says -- "israeli forces are deliberately blocking the delivery of water, food, and fuel, while willfully impeding humanitarian assistance, apparently razing agricultural areas, and depriving the civilian population of objects indispensable to their survival." the damning report comes as another road crossing into gaza was opened this weekend. but the karem abu salem, or kerem shalom, crossing had only allowed 24 trucks carrying medical supplies and fuel to enter as of earlier today.

the u.k. follow lawsuit to which is a war crime. human rights watch says -- "israeli forces are deliberately blocking the delivery of water, food, and fuel, while willfully impeding humanitarian assistance, apparently razing agricultural areas, and depriving the civilian population of objects indispensable to their survival." the damning report comes as another road crossing into gaza was opened this weekend. but the karem abu salem, or kerem shalom, crossing had only allowed 24 trucks carrying medical supplies and fuel to enter as of earlier today. the trucks are required to go through an israeli checkpoint, effectively delaying aid that used to pass much more freely through the rafah crossing. when 500 trucks a day were going through. pope francis has condemned what he calls israeli terrorism after an israeli soldier shot and killed two christian women, an elderly woman and her adult daughter who tried to save her, at a catholic church in gaza city sunday. displaced christian families have b

we are hearing from the u.k.nd germany. >> president biden last week calling the bombing indiscriminate which was the beginning of the u.s. pushback on over enthusiasm on the part of israel. israel pushing back. over the weekend, a joint letter from david cameron and the german counterpart urging a sustainable cease fire. they are defining that as a piece lasting for generations. "israel will not win this war if it destroys peace. they have a right to end the threat posed by hamas but too many civilians have been killed." the french foreign minister called for a durable truce. these calls coming after france admitted one of its diplomats had been killed due to injuries sustained by israeli bombing at the southern strip of the gaza strip. this coming out the back of bad losses for israel including the killing of three of its own hostages in gaza. we learned they had emerged shirtless from a building in a neighborhood in northern gaza, holding a makeshift white flag, and one shouted help in hebrew. protests against

lewis: also today, israel's ambassador to the u.k.srael would not accept a two- state solution when the war in gaza ends. let's take a look at the situation on the ground in gaza. bombing anfighting continue. this is the aftermath of a strike in rafah south of the gaza strip. the hamas-run health ministry says at least 24 people have been killed in airstrikes and two hoes in rafah. we start with a special report from international editor jeremy bowen. and a warning, you may find it distressing. jeremy: jerusalem, a historian wrote, is the only city where the debt are more important than the living. he meant the weight of its bloody past. but it is the last two months and more of killing that absent palestinians and israelis into new and unknown territory. here in the holy city, which both sides claim as their capital, they are tense watchful, waiting. choices lie ahead. a cease-fire will come eventually. will it just be a pause before the next war? or will israel and the palestinians decide that the only way to avoid more sorrow and d

around the world and across the u.k., this is bbc news. look at other stories making the nearly 19,000 nhs appointment had to be canceled because of the practice like -- doctor strike. most work hospital checkups and operations, but some community appointments were affected. next week doctors will take part in a six-day walkout, the longesin the history of nhs. rail passengers are experiencing major disruptions to their journeys because of a fault with the signaling system. east midlands railway have canceled all services towards luton airport. services have been severely affected. network rail has apologize for the delays. chancellor jeremy hunter will unveil his spring budget on the sixth of march in what could be his last chance to introduce tax changes before a general election. the conservative party has been hinting it could make pledges on housing and taxes, as rishi sunak struggles to turn around his party's major deficit in the polls. you are live with bbc news. time for a sports round up the bbc sportscenter. >> let's start with

joining us us as our u.k. correspondent lizzy burden.k us through the significance of this deal. lizzie: these are europe's two biggest financial hubs. this is part of the project to sign post brexit trade deals for the u.k. free from the shackles of brussels. we remember earlier in the year they signed the in pacific trade bloc of 11 nations. but, let's be frank, nothing is going to make up for the loss of output because of brexit. the independent fiscal watchdog says that's 4% of output loss. all the trade deals in the world would not make up for what's been lost, in terms of the relationship between britain and its closest trading partner. so this is significant, it's about the mutual recognition of regulatory regimes on the two sides. it significant for the city of london and all of the financial services from insurance to banking to asset management. >> these have been years of wrangling. jeremy hunt, the chancellor's except -- is expected to sign that burn financial services agreement. and i say to you, the treasury statement is th

u.k. security services reveal u.k. authorities have discovered at least 15 threats to kidnap or kill british individuals perceived with the regime since january of 2022. 15 and 13 months. more than one a month. they had to suspend operations in the u.k. they cannot be protected adequately. i am happy to answer more questions. as long as regards china and hong kong. since the passing of the security law, a number of states suspended extradition. it is dangerously vague and broad. anything can be deemed a threat to national security under its provisions. you can apply to anyone on the planet. there was a very grave escalation earlier this year. language being used calling them "street rats." they would be hunted down for life. earlier this committee heard from his son sebastian and sebastian himself, simply campaigning for his father has been targeted himself. he has been threatened, he has been interrupted when he addressed the geneva human rights council. it has been made clear that if he ever returned to hong kong, he

this data coming on the heels of the u.k. numbers out earlier this week that showed price pressures easing more than expected. chancellor of the exchequer jeremy hunt spoke with bloomberg's lisa abramowicz on the u.k. inflation outlook. have a listen. >> we have had a lot of discussion post-brexit of people, banks, operations potentially moving out of london but it has not materialized anything like the scale that people predicted. london has shown itself to be very resilient. if you look at what's happened in the last year, we have shown we are hungry to people that business that has come to london. we are very committed to financial services in the u.k. we passed the financial services market act. we are changing the rules for prospectuses and for all sorts of rules around ipo's to make a london stock exchange more competitive. it will unlock a lot of capital into growth businesses from pension funds. we are really motoring in the u.k. we are hungry to attract business around the world. this deal was switzerland is just ano

in the u.k.y hunt will unveil the spring budget on march 6 in what could be his last chance to introduce tax change before a general election. reporter: the budget is likely to be the last big fiscal event. there are moments where the government can announce big spending plans before a general election. there is speculation about what the chancellor might do. some is around inheritance tax. there was talk about him maybe abolishing that. in the nt did not do it but we see it come back again -- but we are seeing it come back again, even though he did not do it. some would like to see it. they do not like it as a tax. there are other conservative mps who are sayi to the chancellor you should instead focus on things like reducing income tax. the tax burden is at a historic high. the budget will be the last opportunity for the government to set out the big plans. what is and it will likely shape the election campaign although labor is saying whatever the government does in march will not be able to r

sometimes i pick up a lot more. >> your story has been reported in the u.k.rious newspapers as an inspiration. do you think when you are traveling around britain picking up letter that she would inspire people to do the same thing? >> i hope so. i encourage people to follow me on social media. i have facebook, twitter, instagram, all kinds of things. important people have said they are following me. i do not know if they are just following me to look at photographs or doing the actual act of picking up rubbish. i just hope i can make a difference. if i make a difference with one person. >> having traveled the country and picked up litter, do you feel depressed about the state of the country or positive about the action people like you are taking? >> that is a bit of an interesting question. there are times when there are a lot of other people doing similar things. maybe groups picking up litter every week. i see all these people posting on their social media. there is so much they have thanked up over the years. i still wonder where it comes from. people are

in the u.k.y hunt will unveil the spring budget on march 6 in what could be his last chance to introduce tax change before a general election. reporter: the budget is likely to be the last big fiscal event. there are moments where the government can announce big spending plans before a general election. there is speculation about what the chancellor might do. some is around inheritance tax. there was talk about him maybe abolishing that. in the nt did not do it but we see it come back again -- but we are seeing it come back again, even though he did not do it. some would like to see it. they do not like it as a tax. there are other conservative mps who are saying to the chancellor you should instead focus on things like reducing income tax. the tax burden is at a historic high. the budget will be the last opportunity for the government to set out the big plans. what is and it will likely shape the election campaign although labor is saying whatever the government does in march will not be able to

so we got a lift in the u.k., so no recession, but stalled growth in the u.k.. in that picture, the u.s. is actually doing better than europe. alix: it's confusing because financial conditions loosened everywhere and i'm wondering why it's just the u.k. and u.s. that are seeing the benefit from that from financial services and my europe. chris: financial services are more dominant in those economies proportional to gdp than the euro zone. the eurozone has this additional heavy drag from the manufacturing sector, which i cannot stress enough how steep that decline is now. that purchasing of materials indicated that indicator we got there is the steepest since the -- materials indicator that we got there is the steepest of the global financial crisis. it's overpowering that loosening of financial conditions. it is just that manufacturing sector, which the weakness permeates through the euro zone economy. we have strong declines in germany and in france and the periphery as well with manufacturing. dani: having the u.s. benefiting from what the markets are doing fo

in the u.k. at the top of the hour, the latest u.k. industrial production figures and u.k. gdp. the expectation is for a monthly contraction in terms of growth. we already had pmi data in recessionary territory. rate hikes biting in the u.k. but it is a for between stagnation and recession. -- fan line between stagnation and recession. at 1 p.m., more data out of the u.s., this time producer prices, and of the expectation is a rise at the core level but headline to flatline, which sets us up for the fed decision at 7 p.m. london time. no rate move expected, but if jay powell suddenly sounds dovish, the market will seize upon every signal. we have to look out for a hawkish surprise, as mark cranfield warns us. we will have full coverage of all that right here. for a roundup of the stories to get your day going, head to the daybreak newsletter on your terminal. today, they lead on argentina devaluing the peso, slashing spending, this is the rule of javier millet coming to force. we also have biden urging netanyahu to change course. they previewed the fed pushing back on a march ra

we showed the x-rays to two u.k. doctors who confirmed the diagnosis. report recommends admission to hospital, and possible surgery. mohammed says abuse of palestinian prisoners was common after the hamas attack/month. he showed me the bruises where he says guards used sticks, their feet, and dogs to assault them. >> the dog attacking me wore a muscle with sharp edges. it left marco -- marks all over my body. then they started beating us. they took our clothes, pillows, and they threw our food on the floor. people were terrified. lucy: other prisoners have confirmed guards behaviors changed after the hamas attacks. the bbc has spoken to six prisoners who said they were beaten before they release. the palestinian prisoners society says it has heard testimony of guards urinating on handcuffed inmates. israel says it is not aware of these claims, and that all prisoners are legally detained. mohammed's brother said something in him is broken. >> this is not the mohammed we know. he was much stronger back then. it is as if his heart is filled with terror. lu

last month the u.k. court said the plans were unlawful and downing street said it would publish a treaty to address the court's concerns about the rwandan justice system. the prime minister says the bbc should be realistic about the price of the tv license during high inflation. the fee which is the main source of funding for the bbc has been frozen for the past two years at 159 pounds is due to rise in april in line with inflation. hopes that the 2026 commonwealth games could be held in australia have been set back with the gold coast with its bid to host the event. organizers said they may have to postpone or even cancel the games because federal and state governments have reatedly ruled out supporting them. you are lie would bbc news. the tiny south american nation of guyana says neighboring venezuela is on the wrong side of history and is risking an armed conflict over and oil-rich and long contested part of the rain forest. over the weekend, venezuela held a referendum on its claim to a massive oil

that number tomorrow out of the u.k. could be significant.lot of rate cuts placed in for next year. will inflation play role. that is a big question for the bank of england. alix: are also drill banks and investors. also on alert for blue origins tours of rocket. that is sent to take off in about seven minutes. this is the first time there will be a test flight in 15 months. in the ship will take -- carry a capsule containing scientific experiments to space. there was an issue with the nozzle in the engine 15 months ago. we will take you to that love. this is bloomberg. ♪ >> we have some exciting researchers across the globe. is such a hassle. not with blendjet. what's going on? shhhh. hold that thought. just pour in some milk, throw in some frozen fruit, and in 20 seconds you've got yourself a nutritiou and delicious smoothie. mmm! tastes just like the ones they sell here. and for a whole lot less. i'm ruined. awww. kick your expensive smoothie bar habit to the curb. order yours now at blendjet.com. (adventurous music) ♪ ♪ ♪ be ready for any

that is the u.k. this morning.of that spilling over to what we were seeing in treasuries early on. lisa: tom: tom: first thing today with the technical structure of the 10 year real yield and the nominally u.s. 10 year, still an active god. you take the technical trends of those bond yields and then you say bring them over the equity market, when is this going to end? the answer is those are extremely well-contained trends, well-behaved trends. frankly i think you're going to hear from -- today on this. jonathan: particularly in the u.k. that spills over to foreign-exchange anyway you might expect out the back of that cpi data. a weaker pound, -0.6%. lisa: this makes sense looking at the rate hiking with a rate easing cycle, maybe the u.k. might cut rates by 145 basis points. of course, you have to think at a certain point get the disinflation is good for the economy, when we get beyond just the race to see who cut rates faster, and what is actually better for the economy? jonathan: let's just enjoy the rates for n

the u.k.se secretary has announced that hundreds of british-made air defense missiles are being shipped to ukraine, following one of the biggest aerial attacks by russia since the war began. at least 30 people have been killed and more than 160 injured in a wave of deadly explosions across the country. ukraine's air force says it is never seen so many locations targeted simulta simultaneously cities hit include kyiv, lviv. land has a set an object entered at the nato country's airspace overnight. a polish general says the object, likely to be a russian missile, spent less than three minutes over polish territory. from kyiv, our ukraine correspondent james waterhouse reports. james: it is and always has been the whole of ukraine which has been under attack. kyiv is still moscow's biggest prize. air defenses have improved your, but this attack -- air defenses have improved here, but this attack proved too much. >> i was woken up by a horrible sound. it was so frightening. the missile was flying