sajid javid and philip hammond., from the local government ‘s department, sent out some information which misled mps a little bit, into believing that the rate rises were not going to be as big as they were going to be, and philip hammond now coming under pressure to ease some of those rate rises, offset some of the costs. this could be a rerun of the poll tax, the poll tax affected individual families and so on, and it is quite interesting, if you read the story, there is a suggestion that both sides, philip hammond and sajid javid had briefed reporters, there is a line about friends of sajid javid, which always sounds like the minister talking off the record. saying he has been the fall guy in this, he has been made to appearas guy in this, he has been made to appear as if he has imposed these rate rises and so on. this effect, i would think, the tory heartland, most of the people who are going to pay the high rates will be tory party supporters? are they not likely to defect to ukip? they will not defected to lab

chancellor philip hammond.he pair discussed opportunities to work together to support the so-called special relationship especially as britain prepares to leave the eu. malaysian investigators are continuing to search for clues after the fed -- sudden death of 's half-brother. he was targeted by two women with a chemical spray at kuala lumpur international airport. south korea's spy service said north korea had been trying for five years to kill him. toshiba shares are trading theply again today as future is under question. yesterday saw the conglomerate flag a $6.3 billion write-down and it's a clear business and its chairman resigned. the company is considering selling a majority stake in its profitable memory chip unit. the president senate, saying a sale of the entire unit is possible. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. guy: thank you very much. we are talking markets and the 'sd after chair yellen testimony yesterday

if philip hammond is watching you now, what‘s the message?ause, you know, i think the high street is going to suffer and when it comes to shopping, let‘s face it, shopping and high street go hand—in—hand. i mean i know things are going online and i know people like amazon and all that, but still at the end of the day, people would like to go to a high street and do their shopping. it‘s as simple as that. thank you very much for coming in to talk about it. thanks. some breaking news. it is about a meeting that theresa may has been having. he said i want banks, academics to come to france. saying that he has a series of initiatives in his presidential programme to get talented people currently working in the uk to come to france. he said, "i reaffirmed my willingness first to have a fair exclusion of brexit. he spoke of his need to defend french and european interests." an interesting meeting there at downing street. more now on the couple who lost their court of appeal battle to have a civil partnership instead of a marriage. rebecca steinfeld

it is a question as to whether philip hammond will do that. have gone up though the property rates have gone up sincel though the property rates have gone up since i wait, it is the value of the properties. the rates are going to happen overnight. it is not being brought in on a transitional, it is overnight. suddenly when you are right, i misspoke. you were wrong.|j misspoke, digby. let's move on. spending on cigarettes and alcohol falls through a 15 year low. this is very significant. the question is why. there's a new one or two facts. spending on alcohol and cigarettes. we're talking about the typical household who are spending £11 a0 a week last year on the lee mack and pay to almost £20 in 2001. that is according to the office for national statistics. the big question is why. apparently, this cutback is being led by the younger generation. they drink less and spend a lot more time hanging out playing video games. a lot of people are teetotal by religion or culture. a quarter or something? more than a cause of under 25 start teetotal. if'

philip hammond is a very different type of chancellor from george osborne.problematic areas. it looks good when you say that you want to save some money and then suddenly you save some. the treasury is still concerned there could be a treasury brexit hit. we haven't seen evidence at the moment and the evidence has been more positive than negative, but the treasury is still thinks we have still to trigger article 50 and still there are negotiations and potential problems ahead. if there are goblins or money in the pot, let's save it up for the future. where the targets get hit, because that's an issue, they get changed, too. politicians, if they don't like a target they change it. in the autumn statement last year, the government brought down its deficit reduction target markedly after the recommend and it looks like it will hit its new, easier targets —— after the referendum. the new target was nowhere near as tough as the one george osborne set before the referendum but it shows the government finances are in a more positive state than expected. a lot of th

is philip hammond, the chancellor, going to do that in the budget which is coming up?time soon because as i've already said we've got a £60 billion deficit, but the warning sign is actually what are we going to do when we leave the european union and we need to have the skills that we haven't had in the skills that we haven't had in the past? because actually what we've done in the last 30 odd years is getting the skills, get the skills from abroad. jo, parent, two children in primary school, talk to the conservative mp. it is late for neil to say you can't make promises to put more money. you made those promises in your manifesto. you made a promise to protect pupil funding and introduce a new pupil funding. the report out today would suggest you haven't. and i think that you made those promises, you must have thought that you would need to provide the funds to be able to deliver them and as parents what we're saying is please would you now do that because we're not happy with the impact of the cuts to our schools. i haven't read the whole of it, but we've got inflati

chancellor philip hammond should make schools a priority in the budget, according to a teaching unionovernors are calling for. the call comes after the resignation of one head teacher over funding concerns last week. the national association of head teachers says staff and governing bodies are being forced to make "impossible choices." 0ur education correspondent, gillian hargreaves, reports. put your hand up if you have got... some schools are warning they will have to reduce the school week to four days. 0thers have to reduce the school week to four days. others say they will have to cut lessons like arts, sport and music to save money. now, after a message from the chancellor of the exchequer, the union says it needs more cash from the government. they say this in a letter. the government points out it is spending £40 billion on schools in england this year, the highest cash figure ever. in a separate report, the institute for fiscal studies says following investment, they face real terms cuts for the first time in 20 years because investment has not kept pace with rising school nu

philip hammond is doing what chancellors do, which is move pots around to enable councils to spend moneyeded. they are having to tackle the lobby ready, politically powerful bigger chains, who do certainly have pool on the high street and in parliament. —— pull. it is linked to the value of property. people think of london but a lot of places are hotspots around the country. they emphasise this again and again and again, big businesses, which have real value of over £100,000. that is why households are worried about eye watering rises. oxford street is particular concerned they will face a significant rise. as someone who lives in london, i have been on oxford street and business is not bad for them. they can afford to pay more for social care. i have very little time for this story. if it was hitting small business, i would be concerned. these businesses, peter express, wagamama, the last timei peter express, wagamama, the last time i was there, they didn't seem to be struggling. —— pizza express. and a lot of small firms also complain about this. and one of the problems is the governme

similar to what philip hammond was saying.cut taxes. but the eurocrats don't understand what the issue is. jeremy corbyn has talked about his fear of britain racing to the bottom. once we are out of the eu, we don't have to be subject to employment regulations, protection for workers, that kind of thing, environmental standards, then there will be this diving down. environmental standards, then there will be this diving downlj environmental standards, then there will be this diving down. i think it is an empty threat but a clever one. if you think about what we know about german domestic politics, french domestic politics, the answer is not a lot. theresa may and all of her focus on just about managing, promising employment rights, practically she cannot do anything. but the europeans sort of think we might. i think it is a negotiating stance. we need a threat. that is how she is trying to position it. but would she do it? i don't think so. but would she do it? i don't think so. it's gone down badly on the continent, this idea

if we want to get out of the deficit by 2020, philip hammond will have to do something.the ground on what people think because often you are reporting their views. austerity is seen as something that is not only seen as painful, but is not working?m something that is not only seen as painful, but is not working? it was a target and we are seeing it isn't working. the people we speak to, especially young millennial is, there was a white paper on housing and it seems that there are some measures to help ordinary families but there are some other things, you ta ke but there are some other things, you take a fume steps back and —— a few steps back, and our people thinking about people on the ground? this is about people on the ground? this is a serious issue. perhaps why we have seen this antiestablishment rise, the strength of the right around the world because people are losing faith, if not trust in politics?|j think it's fair to say that people are disillusioned with "establishment politics" but that isn't a reason to blame itjust on that, there are many factors. somethi

chancellor philip hammond. the pair discussed the opportunity to work to support the so-called special relationship, especially as britain prepares to leave the e.u. malaysian investigators continue to search for clues after the sudden death of kim jong-un's half-brother. according to reports, he was targeted by women with a chemical spray at a shopping concourse in kuala lumpur international airport. south korea's by service said spyh korea -- south korea's service said north korea had been working for years to kill him. underwriting security offerings move is mored the akoni and than in past years, when dealmakers who failed to impress bosses still got something. goldman sachs shares closed at a record high yesterday amid optimism for a positive economic and regulatory environment under the trump administration. india's space agency has notched a world record while launching 104 satellites aboard a single rocket, which lasted from an island carrying nano satellites from seven countries. india is looking to ce

the chancellor philip hammond has assured conservative mps that he's listening to concerns about a businesstes are being updated for the first time in seven years, and will leave more than a quarter of companies facing higher bills. mr hammond is facing pressure to do more to help those affected. a heterosexual couple will find out today if they can have a civil partnership instead of a marriage. rebecca steinfeld and charles keidan from london took their case to the court of appeal following a defeat at the high court last year. they say it's unfair that only same—sex couples can have a civil partnership. specialist police teams are digging up the gardens of two properties in swindon. one is believed to be the former home of christopher halliwell, who's serving a whole life sentence for the murders of two women, sian 0'callaghan and becky godden. a man in new york had a lucky escape while shopping at a mini—mart. the drama was caught on cctv. he was about to pay for his groceries when he returns to the shelves — unaware of the imminent danger. a car smashed through the window of the mini—m

philip hammond has pushed the same line.they are sending. they are damaging, when we should be building bridges rather than blowing them up. except if you hear what is coming out of europe, listening to a baltic states minister this morning on another channel, he was much more conciliatory poland is beginning to say the same. even michel barnier has said he understands the importance of the london capital markets to the whole of the eu. what i wanted to ask you is, we have a rough idea, because of the white paper and mrs may's lancaster house speech, of the british government's negotiating position, a rough idea. don't we need, doesn't the eu now need to give its equivalent of its rough idea? yes. a good point. we will have these long protracted negotiations to end up in a position where we should know where we want to be now. which is we have freedom to make our own laws, continue trade on a tariff free basis. the people, although parliament has a vote on this, and the european parliament could scupper the whole thing, depe

that won't, though, stop the calls for the chancellor, philip hammond, to look at this issue perhapse 15 pm north korean suspects in connection with the death of kimjong—nam, the half brother of the north korean leader. police identified the four suspects, all men between the ages of 33 and 57, but say they have already left malaysia. police on saturday arrested a north korean man over the killing of mrjong—nam. he died shortly after being sprayed with a chemical at kuala lumpur airport last week. 0ur correspondent kevin kim says this is another twist in the murder investigation. according to police, the four suspects all had north korean passports and boarded flights out of malaysia on monday. that was immediately after the killing took place. authorities say they are still waiting for the toxicology report that will confirm whether mr kim was poisoned. kim jong—nam was waiting at the check—in counter of the main airport in malaysia when two women approached him and sprayed him with the chemical. he sought medical help but fell unconscious and died hours later. the two women who wer

that won't, though, stop the calls for the chancellor, philip hammond, to look at this issue perhapsral years has left at least four people dead and around 150 thousand homes without power. giant sinkholes appeared in some roads. a fire crew managed to get out of this engine before it was swallowed on the main motorway from los angeles to las vegas. this was another sinkhole in studio city where a woman was rescued from the roof of her car moments before a second empty vehicle was swallowed up. the chief executive of sainsbury‘s has joined the growing row over the re—evaluation of business rates — the commercial version of council tax. mike coupe says changes being introduced to reflect the value of property could leave high streets facing serious challenges and closures, while internet operations could see their bills cut. the government says the majority of firms will pay the same or less. the former boxer michael watson has been injured during an attempt to steal his car in london. mr watson, who's 51, and partially disabled, had a substance sprayed in his face and was dragged alo

the chancellor philip hammond has launched his industrial strategy. to do to assure your sector and start—ups? government to do to assure your sector and start-ups? the sharing economy has been around for seven yea rs, economy has been around for seven yea rs , we economy has been around for seven yea rs, we are economy has been around for seven years, we are not particularly new. in that time, the government has failed to take a meaningful position on things like self—employed workers, which has stifled our ability to invest with confidence. so my main concern about brexit is it's going to be a major distraction, we are going to see further delays in seeing sensible regulations and legislation. how about the drop in the pound? in the short—term, that has been the major effect for us. but we have operations in dublin, across europe and here, so we have pounds and euros. the fluctuation is tricky in terms of planning. equally, the drop against the dollar particularly, where we pay a lot of software licenses, a lot of technology companies suffering in d

it will reach 120 billion if philip hammond puts in place his plans for a tax haven britain, reducing tax and island of 12.5%. so what we will do the next labour government, we will say, is vested interest who rigged the system for their own game. no more sweetheart deals between hmrc and giant corporations. no more tax loopholes and secret hideaways for the super—rich. tax dodgers under a labour government, and i give you this commitment, there will be no place to hide for any of them. 0ur correspondent charlotte leeming is in liverpool for us. let's go back to that issue of the north— south divide. what exactly is he proposing? well, what he is saying is, he has touched on there with the tax issue, what is good for people in london and the south—east is not necessarily good for people in north. he has said that if they get into power, part of very canonic strategy would be more transport investment here in the north, so this is crossrail scheme in the north which would connect liverpool, manchester and leeds, and eventually whole and newcastle. he gives an example of why he wants th

government could be defeated possibly in the house of lords and if that happens, the chancellor, philip hammondblack hole in his budget. norman, thank you very much, norman smith. the bbc has ordered an investigation into reports tv licence collectors have been targeting vulnerable peoplespurred on by people spurred on by an aggressive incentive scheme. a daily mail investigation claims bosses at capita — which collects the fee — promised bonuses of up to £15,000 a year to catch 28 evaders a week. schools are facing their first real—terms cuts to funding since the mid 90s — that's according to research out today. the institute for fiscal studies has examined education spending across the board from early years to university. the national association of head teachers and the national association of governors have written an open letter to the chancellor asking him to make schools a priority in the budget. our education correspondent gillian hargreaves reports. this high school in west sussex is struggling to make ends meet. according to the head, class sizes might have to get bigger and teachers

chancellor philip hammond has told conservative mps he is listening to their concerns about the re—evaluationne with property values. but some have argued that significant increases will lead to businesses shutting down and are urging mr hammond to use next month‘s budget to soften the impact. and sticking with the budget, government finances were £91! billion in surplus last month, meaning the government took in more than they spent. the figures come from the office for national statistics. it‘s normal to have a bit left over injanuary because of the high level of income tax receipts that month, but it‘s the biggest january surplus since 2000. so it‘s leading to lots of speculation about how much extra money the chancellor might have to play with in next month‘s budget. the owners of asda, the us company walmart, have reported their earnings for the last few months of 2016. joining me now from the new york stock exchange is samira hussain. how stock exchange is samira hussain. are those resul1 best how are those results looking? the best way to describe those results isa best way to describe

i not sure those were quite the words philip hammond used. i'm paraphrasing but not unfairly.ur own cause. there were three things that we needed to do between the referendum and the start of brexit negotiations. stabilise the economy. sure, for now, that's done. that is done. economy now far stronger than anyone predicted. set out the details of our plan. the prime minister did that at lancaster house with a positive vision of a post brexit. a self—governing democracy, a strong european neighbour, including on trade and security, but also a global leader when it comes to free trade. and that led to the third thing that needed to happen, which is to develop unity of purpose, notjust among politicians, but amongst the country at large. and that's why the yougov poll following the lancaster house speech was very interesting, showing 3—1 the british public backed theresa may's vision. what i want to get to is the nature of this economic vision for the future. you talk about public opinion, i just wonder whether you believe those brexit voters, let's talk about a particular place

that won't, though, stop the calls for the chancellor, philip hammond, to look at this issue perhapst a pay increase. ministers hope it will ease pressure. the charity, saving the children, say that the hundred 50,000 children are trapped in western mosul as iraqi troops supported by american air strikes have begun their assault to reca ptu re have begun their assault to recapture the city. donald trump has defended the achievements of his presidency so far at a rally of his supporters in florida. he also made another attack on the media. malaysian police say they are seeking four more north korean suspects in connection with the death of kimjong—nam, the half brother of the north korean leader. police identified the four suspects, all men between the ages of 33 and 57, but say they have already left malaysia. police on saturday arrested a north korean man over the killing of mrjong—nam. he died shortly after being sprayed with a chemical at kuala lumpur airport last week. 0ur correspondent kevin kim says this is another twist in the murder investigation. according to police, the fou

that won't, though, stop the calls for the chancellor, philip hammond, to look at this issue perhapspolice has launched a criminal investigation after claims that hundreds of forensic test results issued by a laboratory in manchester were "doctored". two men have been arrested on suspicion of perverting the course of justice. randox testing services in blackley analyses samples of saliva, blood and hair, looking for traces of drugs and alcohol. let's talk to our reporter philipi norton who's in manchester. tell us more about this case. copy might provide frenzied testing facilities for police forces across the uk, that is using their skills to test sa m ples the uk, that is using their skills to test samples in criminal cases such as samples of saliva, blood, hair, testing those samples for any evidence of alcohol or drugs. that evidence of alcohol or drugs. that evidence is then used in criminal proceedings. we know that up to 500 drug proceedings. we know that up to 500 d rug test results proceedings. we know that up to 500 drug test results carried out since november 2015 may have

it's difficult to go back to philip hammond saying i need more. >> thank you very much for that. >>>sident trump's national security adviser, michael flynn, reportedly discussed russian sanctions and areas of cooperation with the country's ambassador weeks before trump's inauguration. flynn reportedly hinted that sanctions relief could be possible under the new administration. the account contradicts statements made by trump's team saying flynn spoke with the russian ambassador after christmas to arrange a phone call with president putten. if proved accurate, flynn could be in violation of a law preventing private citizens from engaging in diplomacy. >>> donald trump told china's president that his administration would honor the one china policy. xi jinping urged closer ties between the countries. the timing of this call is curious given that the two leaders have not spoken in weeks since that taiwan snafu. it comes days before prime minister abe of japan is actually meeting mr. trump. >> the timing is interesting. as you said, this call marks a reversal in trump's approach to china.

right now, the chancellor, philip hammond, is giving a speech at the national cyber security centre. its work is vitally important. this is a unique to titian. our overseas competitors can only dream of the level of interagency cooperation that underpins it and we in britain can be extremely proud to be blazing a trail that others will surely follow. there are three key points that i want to make about the way that i want to make about the way that this centre will approach its task. first, it will notjust focus on protecting against a major attacks on critical infrastructure, but also on raising our security capability against day—to—day malicious cyber activity. of course the most dramatic threats are the high—end sophisticated state—sponsored attacks, but the most common threats are the less sophisticated mass targeted attacks from e—mail viruses to phishing. 83% of businesses are online, the average home has eight devices connected to the internet, which will rise rapidly. this provides enormous potential for day—to—day attacks, from data theft to online ransom. the ons estimates

>> philip hammond said any further stake in the bank will be further delayed until 2020.utsche bank. there are two big issues hanging over the bank. the fine and the settlement in the u.s. and the sale of williams and glenn. as part of the eu competition issue. alongside the cost-cutting measures, you could the quite a lot of progress. does seem to be a long and tough job. much fork you very joining us. we are going to wrap it out. tot miller and i are going bloomberg radio to carry on the discussion. bloomberg surveillance is coming up with francine lacqua. tom keene will join her a little later on. this is bloomberg. ♪ francine: truth trump. second thoughts about financing the u.s. government. with minister shinzo talks donald trump as japan's gdp figures underscore the importance of trade with america. and taxing times for lenders as the drawingack to board as voters reject a plan for corporate taxes. is the safe haven at risk? rbs plans

the chancellor, philip hammond, has assured conservative mps that he's listening to concerns about thequarter of companies are facing higher bills — some are facing rises of more than 100%. our reporter ashleyjohn baptiste explains how baptiste explains how the changes will work. business rates, what companies large and small have to pay. like council tax will companies. that charge on their property is decided on the value of the value of their land. the government has decided that the rates should be re—evaluated and they did not do it last time so it has been seven years since the last valuation. that means some companies are bracing themselves for a whopper ofa are bracing themselves for a whopper of a rise while others they the rates play the deal —— remain the same. so a large warehouse in the middle of the countryside may pay less tha n middle of the countryside may pay less than a cafe in london. that is why we are here. alex is the manager and owner and fears his rates could double. we have been here for34 yea rs. double. we have been here for34 years. it was my father's, he b

that won't, though, stop the calls for the chancellor, philip hammond, to look at this issue perhapscial officer of the new river retail group which owns more than 350 pubs and 33 shopping centres across the uk, told me a review of business rates had been long overdue. the vast majority of companies on this high—street in oxford street will be paying higher business rates from april, that is because business rates are a tax on the value of commercial property. of course, in london and the south—east, property prices have soared in the last seven years since they were last assessed for rates. if you have a large property footprint, like many supermarkets do, including sainsbury‘s, tesco and waitrose, you will want wholesale reform in how rates are assessed. we've been arguing for a blue regions have been subsidising london. london has benefited from the growth in the economy in london and the south—east particularly, as and the south—east particularly, as a consequence of that we believe the regions have been subsidising london because this exercise was lost on by the government seven

philip hammond said that cyber attacks are on the increase.curity centre. she was shown round the new centre in london, whose mission hacking that could hamper vote counting. hackers targeting governments, businesses, ordinary people. ihéfflcezéff ;,§‘,§; ' ,significant intrusions by hostile reconnaissance against critical national infrastructure. and ourjob is to make sure we deal with that in the most effective way possible. so, what we've done here is create a room of the near future and we've got some devices that are all connected to the internet. the new centre is notjust there to protect government, but also people's homes. its technical director showed me how internet—connected items like lamps and coffee makers could be vulnerable, even a child's toy doll. more and more of our life is moving online. the uk is one of the most digitally—dependent economies in the world. a strength, but also a vulnerability. and protecting it online in the future will be vital for economic as well as national security. gordon corera, bbc news. sir michael

philip hammond is a different chancellor from george osborne.est will be balancing the books, getting rid of the deficit during the next parliament and i don‘t think he is the kind of chancellor he will come out with a spending spree on any career. public finances are still in debt and the government is still borrowing £60 billion a year. it has to ta ke borrowing £60 billion a year. it has to take a lot of money to service about that. i don‘t expect too much larger as when they get the budget, though that might be some tweaking around the two big issues, business rates, which we have been reporting on, and the nhs, which would have been reporting on all day. a little bit of tweaking but nothing they could get. the treasury is concerned that economic pain might be ahead with the brexit process was featured article 50 and once we start negotiating to get out of the european union. put some perspective on that figure. £9.11 billion looks like a huge amount. it does, but the government borrows every year 60 or £70 billion. these are the best borrow

chancellor philip hammond has told conservative mps he is listening to their concerns about the re—evaluationoften the impact. and sticking with the budget, government finances were £9.4 billion in surplus last month, meaning the government took in more than they spent. the figures come from the office for national statistics. it‘s normal to have a bit left over injanuary because of the high level of income tax receipts that month, but it‘s the biggest january surplus since 2000. so it‘s leading to lots of speculation about how much extra money the chancellor might have to play with in next month‘s budget. all this week, we‘re doing a series called disability works. it‘s a week of coverage looking at how businesses work with people with disabilities. and how disabled people have made business work for them. jacob anthony, from south wales, is a professional chef. but he also has ataxic cerebral palsy — a condition which affects hand—to—eye co—ordination. so the pace in the kitchen can be quite a challenge. he‘s founded a bakery called loaf and ladder making artisanal bread. the business is le

association of head teachers and the national association of governors have written an open letter to philip hammondces to save money. here's our education correspondent, gillian hargreaves. more than a third of small businesses expect their rates to rise this april, according to the federation of small businesses. the federation says many face unsustainable and unaffordable increases, and are planning to cut the amount they invest in theirfirms. the government has promised help for those worst hit. the mobile phone company nokia is bringing back one of its most famous models, the 3310. the company has struggled to compete in the smartphone era, but it hopes there'll be a demand for a simple phone with a battery that lasts for weeks. the handset was first launched in the year 2000, with the classic mobile game snake. you loved that game. i still love it. i think i would it; heel: 5325515541223‘5‘232? as: a? a” ‘the on g: if not then . see on g: if not then they % on g: if not then they made % on g: if not then they made a % snake on it? if not then they made a hideous mistake. chefs from a town in r

association of head teachers and the national association of governors have written an open letter to philip hammond.. some schools are warning they will have to reduce the school week to four days. others say they will have to cut lessons like arts, sport, and music to save money. now, after a message from the chancellor of the exchequer, the teaching union says it needs more cash from the government. the government points out it is spending £40 billion on schools in england this year, the highest cash figure ever. in a separate report, the institute for fiscal studies says following significant investment, schools face real—terms cuts for the first time in 20 years because investment has not kept pace with rising school numbers and more staff and running costs. gillian hargreaves, bbc news. let's look at some of today's other developing stories: more than a third of small businesses expect their rates to rise this april, according to the federation of small businesses. the federation says many face unsustainable and unaffordable increases, and are planning to cut the amount they invest in their fi

the chancellor philip hammond won't be able to offer significant concessions for taxes on commercial being revalue. they are determined by the rental body rather than sales. the firm that owns the sat college entrance exam is boosting security around the world following cheating in recent years. the college board tells the associated press it is reducing the number of international to four.ays from six reduce opportunities for test content to be stolen. powered by more than 2600 journalists and analysts in over 120 countries. on u.s.a quick check stocks. not much movement. the dow is still higher by about 10%. the s&p down by a 10th of a percent created as well as the nasdaq. that comeeneath service, we have lots of movers. we have to earnings rivers. first, garman is on pace for its best day since july last year. they beat sales estimates by nearly 9%. they also announced a pact with bmw. like self driving tech is on the rise. --elatively high storage there are certainly some bears out there. dupont to dow stocks, trading higher. dupont is hitting a record high. the first in nearly

jonathan: let's move on, after a meeting with philip hammond, they said the eu and the u.k.ent to cooperation. for more on eu-u.k. relations, post-brexit, valdis dombrovskis joins us now, the vice president responsibility for financial responsibility. fantastic to have you with us, commissioner. from yesterday, you agreed on strong corporation and regulatory international regulatory issues. can you give me more detail as to what that means? valdis: it means we are committed to continue our work in international financial corporations because we think it is important in the financial crisis that the global financial institution, global market need also international regulation and not limited to the national borders. ourre committed to continue work in financial stability, financial stability world and other. jonathan: is it realistic to expect regulatory cooperation between the u k and european union if they lose passporting rights toda the eu? valdis: it makes cooperation important because if you're part of eu symbol markets -- single markets, you have access. if not, the u

according to philip hammond, companies should work with the government to fight cybercrime.xiety ramping among british startup companies. shows theyompanies are worried about brexit. than 1/5 of the companies expect open offices in continental europe. global news 24 hours a day, powered by our 2600 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. francine: thank you so much. inflation, weu.k. have more data out of your -- european inflation. what does that mean? does that mean tapering will be delayed, and the impact on the fx? let's go to george servo from deutsche bank. great to have you on the program. how concerning are these figures in terms of gdp for germany and italy? think they aret that concerning is that if you look at more of the forward-looking surveys, they are not -- they are suggesting gdp is holding up quite well. i think going forward, the market will be a lot more focused on the political risks in europe, in particular all of these elections, and the impact of those events on growth. the q4 number is quite backward

jamie, we have heard from the chancellor, philip hammond, yeah come up with an industrial strategy.ke from the uk. there's beena would look like from the uk. there's been a lot of talk about what shape brexit may take, but there is nothing for us to plan against. i think the most important thing is that talent situation, we want the most clarity on that at most immediately to ensure european employees and be assured as a business that we will have access to the talent we need to grow our business is in the uk. we were told before the referendum that start—ups could have been one of the winners from brexit. reviving matabele case? not sure i entirely agree with that. i think for the larger corporations, any rules that come into place they will be easier to face and tackle. we hear about people have worked in the eu for a certain amount of time, they have to be on a certain salary. for a big corporation, that's easy, for a start—up, more tricky. thank you very much. that's everything from the tech hub for now, i'll be back in two hours' time with more business news. thank you very muc

is interesting that you get some of the more strategic heads in the government, particularly philip hammondy, warning about risk. so they can say they warned that this might happen been. it has quite complicated dynamics in negotiations. strong economy allows negotiating partners to say that they need to go further. if the economy weakens, maybe that is less of an imperative. in the longer term, it is a complex dynamic. aboutom: -- let me ask the exhaustion of the english people about scotland. do the english people want scotland to stay within the united kingdom? what is that the zeitgeist now, 10 years on from this debate? that people in england and wales want to preserve the union. i do not think it is at the top of their list of priorities. but on balance, they want to preserve the union. it is aust think pregnant question that has to be asked. one is that mood, please -- what is that mood? puttingi do not think the referendum back on the ng, buthas changed anythi it is a useful reminder that this is hanging over the political system. it is a different -- difficult call for the smp. the

the chancellor, philip hammond, has certainly abandoned the target and the timetable of his predecessore savings are found in 2019, 20 20. we don't yet know the full scale of the savings. departments have been asked to look at savings of up to 6%. some areas will be protected. call school budget and the nhs will remain untouched. and the government says it is committed to spending 2% of national income on defence. the timing will be tricky. it'll be around the same time the uk is expected to leave the eu. and also, just as political parties are preparing for the next general election in 2020. the government says it is committed to a high—quality public sector that delivers the services people need in the most efficient way possible. for labour, the shadow chancellor, john mcdonnell, said it amounted to what he called more of the same tory austerity. thanks very much. a blood test every four months could help women at high—risk of ovarian cancer find tumours early, according to new research. there is currently no screening programme for the disease, so high—risk women are advised to have

ft, the budget expectation is on what the chancellor might be able to pull out of the bag but philip hammondt of money under my desk so there are pot of money under my desk so there a re calls pot of money under my desk so there are calls for a change to the new business rates system, with been talking a lot about that on the programme but as to whether there will be more money to reduce that i don't know, because it could badly affect small businesses. sally, talking about problems in supermarkets, look at this rascal from the inside pages. a baby born with two front teeth. apparently it is very rare. nothing to be too concerned about. two perfectly formed incisors in her insidejaw, she is gorgeous. beautiful, she is very grown—up, two teeth already. she looks like a proper trial! remarkable scenes! there you go. thank you both very much. —— child! nearly a quarter of high street shops do not have wheelchair access and only one in ten offer equipment for hearing aid users, that's according to a new survey by the not for profit organisation, disabledgo. as part of the bbc‘s disability works

interesting to see philip hammond there because he and jeremy hunt, it is their constituencies that ares right. i think that's why the labour leader was suggesting there was a special deal. it should be said that the leader of surrey counsel, david hodge, said there was no special deal to call off the referendum with the government, and when he decided they would go for a 4.99% increase in council tax which did not trigger a referendum he had made it clear to councillors in surrey that there had been some suggestion that there might be an arrangement which would benefit all councils, in other words nothing done specifically to benefit surrey. he was quite clear about that. that does raise the possibility of calls about whether there might be some kind of nod and a wink, further down the line, cancels that feel hard—pressed because of cuts in social care would get some kind of settlement from the government as soon as get some kind of settlement from the government as soon as the budget. so far government as soon as the budget. so faer government as soon as the budget. so far mr hodge ha

tonight it was philip hammond. ut business rates. plenty of small businesses have these concerns. this was a chance for them to bend the ear of philip arnold. i'm told by sources that his ear was bent but the conversation was not entirely dominated by rates. we are told the chancellor was in listening mode but did not commit to anything either way. i think when you subject that you any analysis could either mean everything or indeed nothing. he hasn't specifically said he will definitely do something about business reside rates on the budget, but he hasn't ruled it out. what he did say is he is very aware of the increasing oddity that there is a tax on the business premises of a local fish and chip shop, for instance, but there isn't, or there is much less of a tax burden, on an internet —based retailer that doesn't have the same physical presence in terms of property. the briefing we were given suggested the government is well aware that over time the tax system is going to have to catch up with where the economy i