. >> grenke shares go from the bottom to the top. we'll speak with the analyst that sparked the probe at 10:15 cet. >>> auto stocks go into reverse after car sales across europe plunge into 17%. but because of weaker demands and concerns weigh on sentiment. snowflake gets a warm reception as shares spike more than 100% on the first day of trading on the new york stock exchange. >> the ipo is not the highlight of my life it is a milestone. we are here to build our business that's what we are excited about. that's what we do. >>> thank you for joining us today. reversal for the major industries you are seeing sizeable falls. all in lock step yesterday the uk stock market was down and we had improvements across the boards there does seem to be reaction as they are talking about low interest rates for a long time the market looking a little bit weaker at this stage wall street is soggy we are picking up on some of those queues the bank of england closely watched. let's see where some of the green is coming from these are better performer

case saying it is an advantage that grenke is fully utilized by the united states. into now back to what is happening in the corporate space. suez has raised midterm targets defending itself from a takeover bid from violio. with a share dividend or share buy back the new strategy has shown tangible results quicker than expected a u.s. court has decided to expedite a lawsuit of tiffany against lvmh over the take over deal a judge set the trial date for the start of january >>> china called for beijing to block the tiktok deal that would see oracle and walmart become the new owners they describe the deal as robbery opposing to terms that would see americans take four out of five board seats and deny beijing to the source codes. >>> continuing narratives with each player trying to spin the deal in a way that makes them look like the winner yesterday president trump yesterday on fox news said oracle and walmart would have complete control they said the chinese will not have anything to do with it. that's not 100%. oracle came out and said americans will have the majorit

bonnet on grenke,. look at the futures. we have them duel the downside. in the aftermath at the fed statement and decision-making in the last couple of days. it's really around the fed's assessment of the u.s. company and what ales it. but it seems to be weighing on global risk assets. so they were down by this. just shy a percent. ow u.s. features have been weark. d essentially 2% on nasdaq futures. they're considerably weaker in this early stage of the trading date here in europe. coming up, it's the market open, this is bloomberg. bloomberg. >> a minute to go until the start of cash equities trading. here are you headlines. three more years. the fed predicted rates will stay near zero before 2023. but the caution on the economic rebounds weighs on stocks. nasdaq futures are down more than 2%. even as rates go nowhere in westminster boris johnson concedes a veto over his plan to illegally override the brexit treaty. plus, shares in german leasing company grenke after accusations of fraud by viceroy. the company strongly rejects the report. good morning.

grenke has been put on market watch. the founder and deputy chair hit back and insisted the group's franchise model is key to its success what did he say in reaction to some of those claims >> they are defending themselves vig russly saying we have the cash it is existing and sitting at bundesbank that is one of the biggest allocations that was a bit like wire card. in this case, that is sitting with the account and the founder went out saying how the french is working also saying that the franchise model is there to actually hide certain things the model is key because it enables them to grow. they issue franchise for new countries where they are not yet present and are helping to set up companies they are maintaining the right to then purchase them. of course we don't know whether this is true or not. we had a lot of defense coming from wire card we need to have a solid testified opinion from an ordered company that really looks into the matter and is sort of reassuring investors that the revenue which has been booked

[music playing] >>> german financial services provider grenke sink a german watch dog launch investigation following allegations of money laundering. >>> the ceo of jp morgan the fed has helped it avert another financial crisis from the summit about the previous concerns and asked if it is time for the central banks to acknowledge its own actions >>> i think it is a mistake that because we helped the wealthy we shouldn't do it. the reason they did it is because of that. if you don't lift up the economy, the people who suffer the most are the poor. the fed is thinking about how do we lift up the economy they shouldn't hurt a wealthy person to make them feel good. they are doing the right thing now which is to let them get through this there are going to be serious situations that's kind of a secretary dairy problem right now. we should get through this and kind of unwind some of this stuff wisely there are huge incomes you could have negative imcome tax, fix education there are a lot of things we should be doing to help the poor federal policy is not the thing -- they should focus on lettin