we also get numbers out of iag as well.n, prime minister sanchez is expected to name his cabinet. the brexite u.k., deal law proceeds to its third reading in the house of commons, this time seemingly with a chance of passing. later in the u.s., the fed vice chairman speaks to the council on foreign relations in new york, and st. louis fed president james bullard speaks to the wisconsin bankers association in madison. to -- oh, all right, i will tell you more about exit. boris johnson and ursula von der leyen set out rival red lines for their vision of a post-brexit deal. said britain will not stay aligned to eu deals, which i feel like was the point of the whole thing. saying it der leyen will be impossible to get a full deal by johnson's end of year deadline. redlines have been set. aside from those that are perfectly obvious and that we already know about, what are they? right.that's they are obvious, but it is significant that ursula von der leyen and her first trip to london, first time she met with the prime minister s

britishe looking at airways owner iag. it is having its best day since december., at one point it was surpassing 6.5%. it is hovering just over 5%. the company has taken off restrictions on non-e.u. ownership. it will be the best performer today on stoxx 600. 5% on theore than ftse 100. let's take a chart at the iag freezing situation. today is the best day since december. the stock climbed 47% in six months. there are issues they had to strike including a pilot and surpassing a record data breach fine. there is an uptick in revenue, ridership. writer -- this chart we will stay on right here because it has to do with the top iag holders. that requirement for non-e.u. ownership is just below 50%. today it came in at 39.5%. the biggest airline owner is cut airways. we will leave you with just this. one word for you, brexit especially as it could pertain to a risk in ownership. guy: thank you very much. what we have coming up for you. the battle of the charts. that is next. this is bloomberg. ♪ bloombergme for the business flash. bloomberg has learned a canadian bill

and rail rivals have been attacking the government's flybe rescue plan, with british airways owner iagate aid rules. our resident aviation expert theo leggett has been keeping an eye on this and can bring us up to date. what is the latest with where this is headed? well, this deal, this rescue for flybe was or is going to be controversial and it has attracted a pretty scathing response from the compa ny‘s attracted a pretty scathing response from the company's rivals. you have to remember that flybe is notjust a small company, it was taken over last year by three much bigger ones. one of those is virgin atlantic and one of virgin atlantic's main shareholders is delta, one of the most profitable airlines in the world and questions are being asked about why such deep pocketed investors need the government to step in and help them keep this airline going. in a complaint to the european commission, we have had willie walsh, the outgoing head of iag, the company that owns british airways and iberia, he said virgin delta now just want to use airways and iberia, he said virgin delta nowjust w

he has been there for 15 years as british airways ceo and then led the formation of itg -- of iag newth iberia. airlines various other . welling in spain, to create this ,ig european airline group which certainly over the last few years has proved to be more efficient than competitors such as air france. there been rumors he could do other things. is he done? he has radically transformed iag , radically transformed the european landscape, do you think he is done? there is a job opening at emirates, there is may more work to be done. christopher: if he does retire it will not be for want of offers. he has been such a dominant personality and european aviation. certainly is one of those big hitters who transformed aviation outside the u.s. it is hard for me to see him kicking back. guy,he is not that kind of is he? christopher: no. he is a driven character. he is not someone you would think of as being particularly laid-back and yearning for his pipe and slippers. we will see. it would not be a huge surprise to me. vonnie: he had indicated in november he would leave and two years. quite

but willie walsh, the chief executive of iag, which owns british airways, is among those who've questionedng taxpayers would be picking up the tab for the airline's mismanagement, and has now filed a complaint with the european commission, in relation to rules about state aid. the government says any changes to taxes would apply to all airlines. our business correspondent, simon gompertz, reports. flybe‘s now become a target in the intense rivalry between the world's major airlines. it's part owned by virgin atlantic, which itself is part owned by one of the biggest carriers of all, delta. so british airways has gone on the attack. willie walsh, the ultimate boss of ba, argues that virgin and delta have the resources to rescue flybe themselves, and the taxpayer was picking up the tab for their mismanagement of the airline. he added, "this is a blatant misuse of public funds." flybe is the latest in a succession of troubled uk travel companies. last year, it was thomas cook, with 9,000 jobs, which the government decided not to save. ministers have moved quickly to defend their approach this

iag, willie walsh who was of course in charge, he has announced his retirement as chief executive, shareswere prepared to spend over the holiday season continues to come out. samira hussain has more from new york on one sector that appears to have enjoyed a happy christmas. independent book shops seem to be "the little engines that could" of the american retail sector. according to the american book—sellers association, independent stores that use its e—commerce platforms saw their online sales in november and december increase by 25% in 2019. the strong holiday season made up for a weaker rest of the year, which had seen sales decline. with amazon continuing to dominate book sales in the us and major chains like barnes & noble struggling to stay in business, independent book—sellers have made a surprising comeback. there are more than 2,500 indie book stores in the us, which is more than 50% more than in 2009. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining me is kirsty bashforth from quayfive ltd. wearing a badge telling us it

repercussions for the government because it shows the people that the government and the military and the iag make out what a tragedy of the scale happens. that isa a tragedy of the scale happens. that is a problem but it's a problem in the short term, and i think the reason why the government came out with this press statement was that they thought further obfuscation would have meant a much greater political risk further down the track. so they will take the short term pain and try and get the situation back to normal as quickly as possible. very briefly in terms of the downed airliner, is iran likely to be able to incorporate foreign experts from ukraine and canada into it's own investigation —— into its own investigation?” think they are they respected —— now that they have accepted responsible to, the question is how much leeway others investigators going to be allowed to, in terms of talking to iranian military personnel, to look at the military documentation and the chain of command, and the essbase control that has been exercised because that would show what the state of iranian milit

but willie walsh, the chief executive of iag, which owns british airways, is among those who've questioneds would be picking up the tab for the airline's mismanagement — and has now filed a complaint with the european commission, in relation to rules about state aid. the government says any changes to taxes would apply to all airlines. our business correspondent simon gompertz reports. flybe's now become a target in the intense rivalry between the world's major airlines. it's part owned by virgin atlantic, which itself is part owned by one of the biggest carriers of all, delta. so british airways has gone on the attack. willie walsh, the ultimate boss of ba, argues that virgin and delta have the resources to rescue flybe themselves, and the taxpayer was picking up the tab for their mismanagement of the airline. he added, "this is a blatant misuse of public funds." flybe is the latest in a succession of troubled uk travel companies. last year, it was thomas cook, with 9,000 jobs, which the government decided not to save. ministers have moved quickly to defend their approach this time. the g

it is joined by iag as well as carnival and intercontinental ihcls, focusing on precisely because ofnalyst says this is the bellwether stop for the coronavirus, referencing the deadly sars outbreak from 17 years ago. that stock is down 27%. travel stocks is not the only one affected by the coronavirus. you can see in the red there is mining, luxury goods, oil stocks, as well as casinos. in the u.s., u.s. investors are concerned about the outbreak, but they are also looking at earnings report for airlines. american airlines beat the street estimates for profits but missed guidance, midpoint miss for adjusted eps for 2020. we want to let you know that the ceo doug parker said on an earnings call the coronavirus is not impacting stocks but did note one headwind. that is where the chart comes in. boeing and how it is up for a long grounding of the boeing 737 could impact american airlines. you can see that as the stock of the hour. guy: ok. thank you very much, indeed. thank you to viviana hurtado with our stock of the hour. up next, we'll continue to update you with the markets. this is

some of the others, air canada, iag that have blessed exposure to the middle east -- that have less exposureddle east market are still down. they will be a global airline issue. vonnie: taylor riggs in san francisco, thank you for that. coming up, "balance of power" with david westin on bloomberg television and bloomberg radio. thomas pickering, former u.s. ambassador to the united nations and a slew of countries during his career joins the show to discuss geopolitics. a quick look at markets as we had toured the midday hour in the united states. the dow jones down .6%. the s&p is off its lows, still down .5%. the nasdaq down .5%, giving up some of yesterday's gains. this is bloomberg. ♪ david: from bloomberg world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. the brief today, bill faries from washington on the national security implications of the u.s. drone attack, killing a senior iranian general. also jordan fabian on what we have learned from the white house abo

. >>> leader of iag will step down he will be replaced by the leader of iberia >> 2019 marked the weakest expansion since the financial crisis and 2020 remains vulnerable for trade and political tensions >> thank you for those updates when we come back, the more than two-hour news conference was apparently not enough. what the ousted nissan/renault chief told our own reporter and helimaro o cftn what the future of crude could look like "worldwide exchange" returns after this every new job. and attempt to parallel park. (electrical current buzzing) each new draft of every novel. (typing clicks) the finishing touch on every masterpiece. (newborn cries) it is humanity's official two-word war cry. words that move us all forward. the same two words that capital group believes have the power to improve lives. and that, for over 85 years, have inspired us to help people achieve their financial goals. talk to your advisor or consultant for investment risks and information. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in s

iag shares are rising. it is sort of the end of an era.ent set of excuses. this time it was skinnyjeans. the fa ct this time it was skinnyjeans. the fact is they haven't fundamentally adjusted their business model enough and they are not able to keep up with the scale of investment they need to make and technology so retail has been very mixed this season. next did well, tesco was ok, we have also seen people struggling to catch up and i think that trend will continue. heads rolling atjohn lewis as the md leaves, seemingly a revolving door at m&s over the last few years of senior management — but there was another big piece of corporate news — after 15 years, willie walsh is stepping down as the boss of the company he founded — the parent company of british airways. shares rising. it shows continuity, they have a succession plan. there was a small rise in shares. that business is transformed into a global airline and is one of the airlines where they have lots of different price points. the industry is interesting because it is somewhere w

take a look at iag, those shares are down. there is carnival on the day, down 2.9%.ader perspective, the all world index gained by more than 8% but more often, the reaction has been down over the same time for other breakouts. by2010, the index dropped more than 2%. be greater likelihood might to the downside, ultimately it probably has to do with weather the corporate profit outlook is affected or weather it remains more of the headlines care. haslinda: thank you so much. let's get back to our special coverage from the world's economic forum in davos. about his optimistic outlook for demand and the confirmation of india's outsourcing sector. >> a lot of work in what we call digital areas around cloud, data, experience, a curing nicely. the outlook is quite positive. so gung hos not about it. what drives demand? >> the way we look at demand is fragmented. the digital demand is fantastic. we had our business growing at 40%. it is growing between 15% and 20%. other parts of the business are growing more slowly or sometimes shrinking. clients are focusing on digital tra

vonnie: after 15 years in charge, the ceo of iag is retiring.. what is next for willie walsh? he's well known, well respected in the industry. christopher: ostensibly, he's retiring. he is only 58, so who knows? if he does, i don't think it will be for want of offers. he's been such a dominant personality in european aviation for so long, seeing off pretty much all comers, perhaps apart from michael o'leary at ryanair. certainly he is one of those big hitters that transformed aviation, outside the u.s., certainly. he is not someone you would really think of as being particularly laid-back and yearning for his pipe and slippers. so we'll see. but if he did pop up somewhere else, it wouldn't be a huge surprise to me. vonnie: some breaking news now on johnson & johnson. a u.s. government sponsored casting doubts on claims that baby powder boosts the risk of ovarian cancer. drew: one of the big issues with these cases, which essentially claimed that talc powder produced by j&j, their claims that this was tainted with asbestos gave women types of can

the 18th witnessed they won't even acknowledge is the iag michael hatton sin who testified likely againstchiff and the whole whistle-blower inception. they won't even acknowledge that. why do we need more? >> tucker: thanks so much for that summation. >> thank you, tucker. >> tucker: the upside of collapsing political campaigns here is they tend to be pretty honest. once they sense they are losing, candidates decide to see what they actually think. that apparently is where elizabeth warren is tonight. with her chances of becoming president having assumed an trajectory of a plane crash, she decides to go full fascist because that's who she is and has always been. warman releases a plan that the man's criminal penalties for anybody who post this information online to dissuade voters. try to ignore the relevant irony here. this is a person for years posted false claims online that she was a cherokee indian to sway voters. this is a candidate who pretended that she lost a job for being pregnant and her kids went to public school. this very same person is threatening to send you to prison for

and airline veteran willie walsh steps down as the chief of british airways's parent company — iag.hether to strip arriva of the franchise completely and bring it under public control will be taken later this month. john lewis — the poster child of traditional british retail — has just lost its boss. paula nickolds is stepping down next month after just two years in the top job. why? profits are down, they're expected to continue to be down, and —— this is after a pretty dismal performance last year and the christmas season — which is normally a boon for retailers. they're not the only ones feeling the pain. m&s has failed to build on signs of a recovery in its clothing business — and high levels of waste have hit its profit margins on food. tesco's been talking today about a subdued market in the uk. in fact, the brc, the retail lobby group says 2019 was the worst sales year on record for the industry, what should we make of all this? lets get the insights of kristen davis from shoppercentric — a specialist agency working across major retailers here and across the eu. sales havent

but willie walsh, the chief executive of iag which owns british airways, is among those who've questioned's mismanagement — and he's now filed a complaint with the european commission in relation to rules about state aid. the government says any changes to taxes would apply to all airlines. our business correspondent simon gompertz reports. flybe's now become a target in the intense rivalry between the world's major airlines. it's part owned by virgin atlantic, which itself is part owned by one of the biggest carriers of all, delta. so british airways has gone on the attack. willie walsh, the ultimate boss of ba, argues that virgin and delta have the resources to rescue flybe themselves, and the taxpayer was picking up the tab for their mismanagement of the airline. he added, "this is a blatant misuse of public funds." flybe is the latest in a succession of troubled uk travel companies. last year, it was thomas cook, with 9,000 jobs, which the government decided not to save. ministers have moved quickly to defend their approach this time. the government isn't in the market to bail out pri

iag of over 4.5%. removing the limit for maximum non-eu shareholding. removing a large overhang. full-year forecast. they are also seeing strong sales in certain drugs. keep the investigator on and they will release a report ahead of the next financial reports. that goes back to what happened in december. ben carson block took a short position. anna: next week, the world economic forum takes place in davos and we will bring you the biggest names in banking. the ceos of bank of america and citigroup among others. all right here on bloomberg. from the snow topped mountains of switzerland, probably. do not miss our coverage. this is bloomberg. ♪ matt: welcome back to the european open. we are 54 minutes into the session right now and looking at gains across the board. the dax is currently up almost 13,526.ts at we are on record watch. to go before we get to that. the bank of england is set to cut rates no matter what the sales data looks like out of the u.k. according to richard jones. richard come it is a done deal now basically. richard: if you were to ask me a week ago i would sa

the ceo of british airways parent iag is retiring.acing down unions and cutting costs at ba, and led the purchase of you barium. the popular chase sapphire reserve credit card is about to get more expensive. jp morgan is about to boost the tonual fee from $450 $550. in return, they are adding new perks like a $100 credit on doordash delivery service. i'm to be on a hurtado. that is your bloomberg business flash. alix: the entire control room is so mad about that sapphire card yearly fee. now we turn to wall street beat to cover three things wall street is buzzing about. first up, you've got revenue from the investment bank, the largest business -- the bank or just business. up next is quant firm cutting its global workforce. and wework pumps the break. -- the office shuts no expansion as they shut to offices in new york and london. what did we learn from jeffries? reporter: one reason we always like jeffries report is because we get a read through to other banks. they clearly seem up to mystic about everything, and it is incredible in

continue in january will be covered by its 2019 advocat insurance protection and as of january second, iagg it received more than 28 hundred bushfire-related claims since september with the majority related to residential properties. flipping aboard to check in on treasury futures, a solid start for u.s. debt to 2020 and u.s. stock futures climbing across the board here after the tech rallies we saw on wall street. apple, microsoft, and alphabet hit fresh all-time highs and and southo rose korea. bloomberg intelligence thinks it could help digest higher than aerage inventory and quicken 2020 price recovery. we are keeping an eye on samsung report it didia supply panels to huawei phones. the head of the city state 's defective central banks has the burden should not fall on monetary policy alone. he told bloomberg that expectations of central banks have become unrealistic. because of what they did fabulously during the global financial crisis and subsequently in holding up the global economy and global financial system, there is now tremendous unrealistic place that every problem we run int

airline stocks like easyjet and british airways owner iag have taken off after as i was telling you earlierr was approached by two inmates and attacked with what have been described as improvised bladed weapons. he was injured in the head and neck. a four other prison staff we re and neck. a four other prison staff were injured as —— in the incident. the metropolitan police announcing that this is being treated as a terrorist attack. malaysian authorities have said there won‘t be an inquest into the death of nora corin, the teenager found dead after ten days missing in the malaysia and jungle. her parents are demanding answers from officials after they said no further action would be taken over her death. we can speak now to nora‘s mother, who is at home in south london. thank you for talking to us on what is obviously a very difficult day for you, with this decision from the immolation authorities, that they will classify nora‘s death as no further action. what do you want them to do? we want them to keep the case open and keep an open mind, frankly, there are so many questions that we hav

rivals, like willie walsh of british airways, or iag which owns british airways, are not happy. as a misuse of public funds. willie walsh has sent a letter to grant shapps, which is not in the public domain but i have seen a copy of it. it is very strongly worded. he says it is a blatant misuse of public funds and it points out that flybe is part owned by virgin atlantic, which in turn is part owned by delta air lines, one of the world's largest and most profitable airlines. and between the two of them they do not have the resources to keep flybe operating, well, then why are they falling back on taxpayer support? so a great deal of anger there. other airlines not quite so against the proposal. they say the regional connectivity thing is worthwhile doing and it is only a small amount of public funds anyway. over the years, the regional airline industry in the uk has shrunk down so there are now only three players. by far the largest of which is flybe, then there is also loganair and eastern airlines, which is actually operated as a franchise of flybe anyway. but it has routes li

also the chief executive of iag, the parent company of da, willie walsh, he has said that he will steprtainly for the 2300 staff who work there and the airports it serves, a really important announcement. an investigation is underway after a passenger plane dumped fuel over the grounds of several schools while making an emergency landing at los angeles airport. around a0 people, most of them children, were treated for skin irritation and breathing problems. the delta airlines flight was bound for shanghai and experienced mechanical problems shortly after take off. the fuel was released to reduce the aircraft's weight to allow it to land safely. there are fears as from the australian bushfires could pollute the water supply in new south wales. several hundred thousand hectares of land have been burned around a dam which provides most of sydney's water supply. rain is forecast and could wash debris and ash into reservoirs from burnt—out areas, which are more prone to flash—flooding. the authorities are deploying flood barriers as a precaution. councillors have approved plans to build a m

airline stocks like easyjet and british airways owner iag have taken off after irish carrier ryanairlers came under pressure, after that warning of poor sales from superdry. and despite a more bouyant trading update from jd sports its share are only up a nudge. that's all the business news. the mills of northern england still dominate skylines across many towns which were once considered the workshops of the world. but today, many mills are derelict and empty and in the first survey of its kind, historic england has found almost 600 of the buildings could be prime candidates for conversion into homes and businesses. coletta smith reports. with thousands of workers heading in for shifts, this old textile mill was the beating heart of wigan for nearly 100 years. but now, pagefield mill is just a shell, totally derelict. it's only vandals and pigeons within these walls now. it's been empty since 2006. the council would love that to change, but they know it needs to happen quick. we need to keep working to get a viable scheme that brings as much of the building back into use as it possib