now the head of the bank of england andrew bailey has warned that the u.k. say says an on president at a level of economic uncertainty his comments come as talks to clinch a post trade deal with the european union stole at a crucial moment a lot is at stake almost hostile of all british imports come from the e.u. and around 46 percent of all british exports go to the e.u. making the bloc britain's most important trading partner if no agreement is reached by the time the so-called transition period ends on december 31st that relationship would get a whole lot more complicated both sides and i talking openly about the possibility of no deal being done the u.k. in particular appears to have accepted the fact that it will not get a trade agreement similar to the one the e.u. has with canada here's what cabinet minister michael gove had to say about the us we have to conclude a kind of a stall free trade agreement before the transition period ends on the 30th of december this year but as things stand that will not happen we remain absolutely committed to securing

the head of the bank of england andrew bailey paints a dreary picture of the britain's economy which shrank by 20 percent in the 3 months to june that's the biggest fall of any large advanced economy in the view of the coronavirus pandemic bailey warns the u.k. faces on president and level off economic uncertainty and things could get even worse should there be a no deal breaks it talks between london and the e.u. a stalled and with a transition period ending on the 31st of december the clock is yet again ticking a lot is at stake almost half of all british imports come from the e.u. and the other way around 46 percent of all british exports go to the e.u. and that's making the e.u. britain's most important trading partner and that's all gone if there is a no or no trade deal in place by january the 1st for more let's bring in d.-w. charlotte potts who is standing by for us in london shouted good to see you know we know that british business is already weighed down by the coronavirus pandemic what's the mood among companies there right now. well business says he absolutely alarmed by

london time, andrew bailey will appear before a house of lords committee and is expected to talk aboutjobs. at 6:00 p.m., apple will launch its 5g iphone as the u.s. looks unprepared to really embrace the technology. we heard from our opinion columnist that this is all about china. all day today is amazon's prime day. amazon is about to test whether consumers who have taken to online shopping in huge numbers during the pandemic are willing to spend even more on this amazon prime day. that is your trading they had. that does it for me on "bloomberg daybreak: europe." up next, we have anna and met taking you through the open -- matt taking you through the open. we had a pretty positive day on wall street. euro stoxx 50 futures unchanged but ftse 100 futures up, alongside dax futures in frankfurt. one thing we will be looking out for, anymore restrictions coming. chief medical officer says boris johnson's new steps to quell an infection probably will not be enough in the worst hit spots. we are still waiting to see if london goes anywhere on that tier. stay with us. this is bloomberg. ♪ s

now the head of the bank of england andrew bailey has warned that the u.k. faces an on president at a level of economic uncertainty his comments come as talks to clinch a post breck's a trade deal with the european union stall at a crucial moment a lot is at stake almost hostile of all british imports come from the e.u. and around 46 percent of all british exports go to the e.u. making a bloc britain's most important trading partner it's no agreement is reached by the time the so-called transition period ends on december 31st that relationship would get a whole lot more complicated both sides and i talking openly about the possibility of no deal being done the u.k. in particular appears to have accepted the fact that it will not get a trade agreement similar to the one the e.u. has with canada here's what cap it minister michael gove had to say about the us we have to conclude a kind of a stall free trade agreement before the transition period ends on the 31st of december this year but as things stand that will not happen we remain absolutely committed to se

london time, andrew bailey will appear before the house of lords, a committee and he is expected to talk outlook for u.k. jobs. at 6:00 p.m., apple will launch its 5g iphones. the u.s. looks unprepared to embrace the technology. all day long today come if it is amazon isme day and ready to test consumers -- if they are willing to spend even more and my guess is yes, they well. let us get the bloomberg first word news. pandemice coronavirus will cost the u.s. $16 trillion according to larry summers and david cutler. bridgewater associates, ray dalio says china has an upper hand on the u.s. on a number of issues. and is on beijing's side the next u.s. administration will have to deal with china's continuing rise. >> time is on china side. -- china's side. what will be a difficult situation in the new administration is destiny is on growing andchina doing better probably. laura: facebook users are consuming twice as much fake news as they did in 2016 according to a report. et repeatedly has released fake news. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by mor

andrew cuomo announced similar plans last month. a 102-year-old world war ii veteran celebrates her birthday by skydiving. vivian millie baileyident george h.w. bush's 90th birthday jump. >> it was wonderful. a real thrill. i made a safe landing. >> bailey joins the earmd in 1943 and was a lieutenant in the women's army corps. happy birthday. how cool is that? >> that is amazing. really sometimes morning television amazing. that's great. she is 102. she just jumped out of a plane. you wouldn't do that. what are you, 65? brian: no, i'm 75, 85. no, not really into doing tha i don't le landing. ainsley: you like staying on the ground? brian: jillian delayed thank you. she is gone now. janice dean is poised with the weather. janice: the weather looked great for that sky dive and happy birthday. amazing. you know what? let's talk about the tropics because this is still happening across the atlantic. we have epsilon, this is forecast to become a hurricane and come close to bermuda. so we are going to have to watch this over the next couple of days. rip current along the east coast as well and look, nine hurricanes, three of which w