i am tom keene and new york, anna edwards in london. good morning to you. the meetings in vienna are not the normal meetings, or they? -- are they? anna: the meetings in vienna are getting a good deal of profile. vienna is going to be the place to be. a lot still on the radar. we have opec tomorrow, the ecb, and the jobs report on friday. tom: now we have photos from japan. i believe video from japan as the prime minister, this is a retract, folks, he will a national sales tax. much of this was foreshadowed when he was with the president and leaders in g7 and hiroshima where he made very clear he was playing to a domestic audience. some of this today is the delay of a national sales tax and really a quite a blood -- abrupt blow to the fiscal side. to the bloomberg first word news. vonnie: in japan, prime minister shinzo avenue a is delaying -- prime minister shinzo abe is delaying the increase in sales tax until 2019. it would make it tougher for the japanese government to deal with the world's largest debt burden. another sign that china's economy is stabil

i'm anna edwards. this is "bloomberg best", your weekly review of the most important business news, analysis and interviews from bloomberg television around the world. let's begin with a day by day look at the top headlines. with markets closed monday in the u.s. and the u.k., the biggest news to start the week came from asia. >> the singapore listed commodity trader noble group is making headlines with the resignation of its ceo. what happened? it happened very quickly. >> here is what we know from the statement today. it says he decided the time was right for him to move on. he has been ceo for four years. noble says he will be replaced by two co-ceo's. renzel has been with noble two decades. an old hand in the company. frayed joined noble since. here's where we are with the company. even with the recent rise in commodities prices, noble shares have continued to drop. noble said something else today. it will stop the sale prices of -- sale process of some of its u.s. operations. that will help prop u

capital, anna edwards is in berlin. westminster. we will bring you global coverage throughout the show. let's get you more on those dramatic moves. we have three boards to get through very quickly. it has been brutal. we know from traders that they haven't slept. 700, but the ftse is above that mark. we had mark carney saying he is ready to act and providing extra liquidity. that has put a little bit of a safety blanket on the ftse 100. this is a picture for euro-pound. this is a very clear bid on to some of the havens. we are seeing losses like we haven't seen since the financial crisis. we haven't seen it since at least 2008. barclays down, unicredit down, dr. sandra banks, we may be expecting some kind of swap to make sure these are ok. we are not insinuating anything, but keep an eye on that. final board for the homebuilders. if you look at the stocks that are most under pressure, volatility index gaining some 34%. let's get on to the guests. theave anne richards for hour. then, former ecb president jean-claude trichet a speaks

london city hall, she has been migrating around the various political institutions of london, anna edwardsat wonderful interview with the mayor. i know you want an interview with mr. corbyn today. tell me about his morning. anna: he is under pressure, let me put it that way. anyone who thinks they know what pressure means, try having 40 members of your front bench resign and call for your resignation, saying they have no confidence in your ability to get the support out amongst public. this is a guy under pressure. it looks like he is facing a no-confidence vote. i asked if the chair of the labour party would back jeremy corbyn. he stayed well away from him today. he could coming back to his job to represent the city of london. remember, jeremy corbyn has a lot of popular support among the members of the labor supported. -- of the labour party. they are the want to put him there. he could be voted in once again. elite -- wee labor care about this because we are hoping they will see a general election pretty soon. what is the likelihood of a general election in the next 12 months in the u.k

jonathan: let's get to anna edwards in westminster.cotland starting work on their own referendum all over again. going to happen? another independence referendum up in scotland? anna: it was talked about as a once-in-a-lifetime or once in a generation decision. it seems things have changed so much that this could be back on the table. that is what nicole sturgeon was addressing. she says this is something they are considering, and because of that legislation is paving the way for a possible independence referendum. she is in talks with the eu for immediate discussion. the timing will be interesting. will they be able to get the independence referendum on the radar before the u.k. and eu go through the divorce proceedings and enable scotland to not actually leave the eu? that could be one of the angles on this. meanwhile talking with those , disappointed by the results yesterday, as 62% of scots wanted to stay in the eu, we also have a petition calling for another referendum. it seems unlikely this particular petition will be successful

. -- jonathon: let's get to anna edwards in westminster. otland starting work on their referendum all over again. will this really happen? anna: it was talked about at this time as a once-in-a-lifetime or once in a generation decision. things have changed so much that this could be back on the table. that is what nicole sturgeon was adjusting. legislation is paving the way for a possible in independence referendum. she is in talks with the eu for immediate discussion. the timing will be interesting. will they be able to get the independence referendum on the radar before the u.k. and eu go through the divorce proceedings and enable scotland cannot actually believe the eu. talking with those disappointed results yesterday, as 62% of scots wanted to stay in the eu, we also have a petition calling for another referendum. it seems unlikely this particular petition will be successful but it underlines the divisions in the country. francine: given the uncertainty, will there be a coup in labour and a possible general election? anna: that is being

anna edwards will be taking over in london and tom keene in new york.w with the german economy minister at 1030. tom: the failure if not delay of -nomics. the markets are range browned -- range bound. we have draghi on thursday and the fed on friday. we consider the swiss franc as currency of last resort. this is bloomberg "surveillance." i am tom keene and new york, anna edwards in london. good morning to you. the meetings in

anna: i'm an edwards ib london.hen we start off for this wednesday session in around an hour time, this is the picture. you can see the immediate region, and it looks like it will be sluggish, flat, fairly mixed. whole, flatcks as a at the start of the trading day. i know we are going to talk about some of these risk assets. to see thesting moves we have seen in the last 45 minutes around the japanese currency, shinzo abe telling lawmakers he is going to delay the increase in the sales tax. it's interesting some of the voices in japan that the move in the end the last 15 minutes or so was triggered by stock markets saying the slump in stocks meant that losses were triggered around the 110 level. you can see the move in the dollar-yen. manus: 109.94. to a certain extent, you have to say, how much of this sales tax hike was so well flag or suggested? what grabbed my attention come if we keep our eye on that risk radar, the aussie dollar rising, but at the top of the board, 109.91. to 2019, andx hike he would do this i

anna edwards is live on downing street.e will bring you breaking news on politics in turmoil in the u.k.. it managing their says that they need to not punishes the u.k. but not encourage others to follow. >> i hope this it will be a point will be sensible enough to not harm unnecessarily and try to get a revenge against the english and others but also is not going to be an encouraging to others to look for similar situations. francine: now we will get more with david owens. any more in the immediate see that investors if they were not in such turmoil a lyrically. matt carney did a good job. what can david cameron and the cabinet to? that they areed trying to get a plan in place. them negotiating what they are doing it about. 's power washe pound always in the countries and as the clock ticks, they have to prepare the ground closely and that is what george osborne basically said. they have to be clear what they are going to do. is it better for you if they invoke article 50 later? we saw this kind of temperance from angela m

i am anna edwards. good morning to you.et's get more details on the polls that have been released overnight that will no doubt add to the confusion about what will happen in the referendum on june 23. all oflls overnight, which give a lead to the leave campaign. icm put out two polls, a phone and an online poll. both of those give a five percentage point lead to the leave side. poll that gives another laid. -- lead. is one version of the orb poll, if you take all of the voters, not just those that are likely to vote. her -- remember, with these polls, heavily criticized after the election in 2015. a one-year long investigation into the polling industry concluded they had issues that would be difficult to fix. the direction of travel seems to be clear from the most recent polling. things look a little bit more in favor of the leave camp, a bit more brexity, if we can say that. manus: i have something here for you. i am channeling not intended to. -- 1992. i voted in that election. it is interesting that they have thrown thei

i will be back with anna edwards. we have duncan smith from the leave campaign. lding fire, the japanese prime minister says he has decided to delay an unpopular sales tax hike until 2019. china's factory gauge signals the world's second-biggest economy is stabilizing, as manufacturers got been made. oil slips, heading for the longest losing streak in six weeks. we are live in vienna, as opec meetings say that patience is a virtue when it comes to c rude. >> the market will correct itself, as we saw from the big inning of the year

i am anna edwards. manus: and i am manus cranny in dubai. breaking news. na: from the clothing retail sector, let's get straight to those numbers. better than estimates the best way to summarize in terms of q1, 705 million euros, better than the estimate of net profit, first-quarter sales just a touch ahead of the estimate for the first quarter. they are saying that sales in 1 to juneose 15% may 13. and looking at the number, that is coming above estimate as well. many, thene of the global presence is perhaps insulating the company from tougher sales backdrops that they might been seeing in various individual countries. but i would not stop some negative fx implication, we performance of -- weak performance that they cannot but better numbers, than estimated. let us turn to the brexit question, manus. the eu referendum on the 23rd is just eight days away, marking them off as my calendar goes. we have a series of charts illustrate how the market is looking at the story right now. manus: we have. look, no doubt about it. let us talk about a pound, the only cu

manus: i know you love this, anna edwards. sarah, good morning.where i am sitting, there is a huge amount of fiscal constraint. saudi is reducing expenditure, abu dhabi reducing, all directly linked to breaking even. we are nowhere near the break even. this whole geography, or the members of opec, need. and i think you see the accelerator effect on the economy. look at the u.s., looking around the region in terms of the financial multipliers. sarah: i think it is very true. initially, when we saw the large decline in oil price, i think most economists were very excited thinking we would see a big stimulus for the economy. of course, in places like europe, where the low oil prices been a big help to activity, that has all been pretty much positive news. in many parts of the economy, the world economy is of course not seeing positive news in emerging markets, and of course in the middle east region. but we think that the increase in oil prices that we have seen since the start of the year will continue, through to the end of to year, taking us brent

i am anna edwards. 6:00 in the

parliament, anna edwards is that westminster. good afternoon. mounting pressure from some of europe's leaders to move quickly. what have we heard today? yeah, thank you mark. as we heard from the foreign ministers, they are finding nations, all of the european union meetings in berlin, the foreign ministers calling on britain to act quickly. steinmeyer saying a quick process is needed. the french prime minister talking about how the u.k. process is to start. time is of the essence if you are talking from the european union side of things. they could be disappointed, writing before the results of the vote were known. michael goad, a contender for that conservative party, could be leading these. he was very much at the forefront. we have seen a document of support communications before the results of the vote. he talks about article 50 and when that will be triggered. article 50 is just one means of leaving the eu, unit the government decided -- and even if the government decided to take that route, we are in control. we can proceed in our own tim

mark: let's get updates on the latest politics of with anna edwards.e about to hear from jeremy corbyn. of that, is part waking up to many questions. jeremy corbyn's future is one of them. absolutely. jeremy corbyn finds himself, to some extent, fighting or his political future. he faces a no-confidence vote. they put forward a no-confidence vote. will they go so far as to try to gather the 51 signatures needed to launch a leadership challenge for the top of the labour party? this is only in the last year or so gone through a leadership challenge. he was voted in from a mandate from the party grassroots rather that sit ine mp's the house behind me. .here are many questions politically, who will lead the labour party? or another lead campaigner? there are other names in the free. -- in the fray. what will happen with scotland? said that all of these options are on the table. an independence referendum is on the table. we thought it would have been settled for a lifetime in 2014. that is not the case. they say this is enough to put another independence r

anna edwards is that westminster.ousing a vacant was her statement -- how significant was the scotland ministers statement. sturgeonrd from nicola earlier on today. we knew a second random and its referendum could be on the table. she said we took a step towards that today. the distillation is being prepared to pave the way for a possible referendum. going to be one, they want to make sure legislation is in place for them to do that. she also is seeking talks with eu bodies. most people voted to stay inside the eu in scotland. but the country overall was for the u.k. to leave the eu. many in scotland will be disappointed. back in 2014, the time of the independence vote then, part of the arguments for staying in the u.k. was that we keep us within the eu. complicated moving parts certain to take into gear. timing him of the conversation between london and brussels, london and other garments -- governments, a lot of tension has been. ryan has that side of the story. it is possible we are on different sides right now. is

. -- i am anna edwards. talk about the programming and the great deal on the debates. referendum and we had the overnight shaking of the they remainkets and on 41%. the increase is of the momentum there is the cautious polls at the moment and we know that will mean people going away on resultsand we know the and it is a domestic point. and there ist here and the poundlity and a three-week low. bickere continuing to with each other. take us from a center of the challenge and what is going on? >> it is interesting and virginia and that party could become the first female mayor. them gaining traction and trying to persuade the electorate and this is coming polling andest exit it is not a conclusive result yet. the democratic party has done better and this is according to the exit polling and the local governments have become fertile we had the alternative for george land -- for deutsche land doing well. cities., they have big the biggest cities, in fact. across various parts of europe, we are confronted with a move towards the anti-establishment party and we have the brex

anna: i am anna edwards here in london.ee at the start of european equity trading swimming get there and around an hour. futures will be weaker at the start of trading. anybody who has been keeping an eye on asian sessions, my not be surprised could risk aversion coming through. runny -- money out of the pound. focus on what is going on in the pound as we head toward the 23rd of june. take us through some of the elements to this week's story, manus. manus: yet anna, it is all but the yen. it is all about fx. it is all about hunkering down. you have seen a dollar yen, money going into the yen. dollar down 1.1%. bullish bets on yen. we have seen that for the first time in seven weeks. you are seeing bullish bets on yen come back to play very aggressively. you've got sterling yen, that is bere the greatest play is to . you got the bank of japan this week. you also have the bank of england and the federal reserve. money going into yen. let's switch it up and have a look at the rest of your risk radar. this is what we've got. .s

i'm anna edwards live in london. it is 6:00 in the morning.he broader equity picture in asia is quite stable. they posted stimulus from a central bank, entering into the market psyche. let's have a look at what is happening with the pound. the pound catching his breath -- its breath after the dreadful selloff we have seen over the last couple of days or so. down to 1985 levels. the relative index perhaps signaling the plunge may slow. let's bring up our risk radar justin at you -- just to show you where the markets are. it is up around half a percent in the asian session. the yen fairly flat at 102.02. pause for thought. abe will be watching foreign-exchange and stock markets closely. lots of talk of cooperation between central banks and finance ministers from the japanese. a fairly substantial pickup of 1.4%. the nigerian cease-fire seems to be having an impact. we will take a look at supply data later. let's get the bloomberg first news. >> central banks have been reacting to brexit as korea is planning a fiscal stimulus package of more than

i'm anna edwards.ave a look at the retail sales numbers from germany. , onestimate was 0.6% retail sales. 2.6% was the actual number, against the estimate of 2.5%. this is data for the month of may. there we are, the jigerman consumer is resilient, compared to what economists expected. looks like we will draw a line in the sand post the asian sector and into the european session still one hour to go into we get there, of course. the asian equities bouncing by .8%. it looks like a line in the sand is being drawn here. many conversations are taking place around his desk, as to what is driving that. too much optimism about whether article 50 is never filed and whether or not the u.k. leaves the eu. more on that ina moment. let's bring up the risk rate, up by .8%. the gold price, a little money coming out of gold this morning, down by .2%. the pound has bounced a little bit since the worst we saw at the beginning of this week, but not by much. here are the global bond yields. we are at 1.5% for the u.s. 10

anna: i am an edward. -- anna edwards.start of the final of campaigning before the referendum vote takes is tomorrow. good to see you. let's talk about what is coming up on the show. will have lots more coverage of that big debate we saw at wembley yesterday. holdingre used to concerts. the remain side are doing they wanted to work with the eu, not against it. they said the league side was and that brits are not quitters. boris johnson saying that this could equate to independence day. they said that phrase a lot. we have a lot of great guests to take us to the story. , a financiales services petition. he is a believer in the leaf campaign. we will talk to him about why the city seems to be a bit divided. michael o'leary, we will talk to him as well. he wants the u.k. to stay. goes along side the growth of the future some extent and we will ask him questions gets the eu were not to function and wesame way anymore. get his thoughts on this day, the day before the polls opened. -- mp.n redwood, empty we will get his thoughts

live from london, i am anna edwards. manus: and i am manus cranny live in dubai. you have a chart. anna: when we need the keep an eye on of course. this is the implied probability of the betting market of brexit. , 25 .68%.down at 26% last week we went as high as over 40% on this particular measure of whether it was likely or not we would see a brexit. of course last night, manus was dominated, the heated exchanges at wembley arena, maurice a holding pop concerts, but that was the face-off between the remain and leave campaigners. it seems that we have some big moves on monday, slightly smaller than yesterday. now just pausing for thoughts, manus seems to be the way we describe this morning. manus: we are, indeed. the riska look at radar. i think it is fascinating. we have done a little bit of that isour pound index, what you want to look at. what you have here, 146.84, the bloomberg pound index is up 2.3%. the biggest search since 2009 with a five month high. but of course, more than just cable, if you look at the pound index, 35% is against the dollar. 8.5% against the yen. and it

i'm anna edwards in london. manus: i'm manus cranny in dubai. good morning. anna:

. >> let's start with anna edwards. anna, the united kingdom and fragmented europe and a fragmented labour party. when you want to begin? in a: it was a turn of the tories, the conservative party fragmented on friday. increasingly, the labour party looks though. increasing pressure on jeremy corbyn to resign. he is the leader of the labour party. he was already facing a no-confidence motion. now we see resignation after resignation from his shadow front bench this morning. i caught up with john mcdonnell who is the shadow counselor. he was defending jeremy corbyn's reputation. jeremy corbyn has come under a lot of reputation for a salient ring, the heartland, the industrial traditional labor vote to the remains i during this brexit debate and referendum. john mcdonnell was defending jeremy corbyn but i'd then asked him about the economy and asked him what the economy needs now. >> what we need to do is make sure we have stability. the bank of england has been critical on that. we have taken the support of the emergency m

much more throughout the program. , want to bring in anna edwards you been camping down westminster, and the city right here in london, the focus, the uncertainty around the banks is striking. where are we? anna: we talk about politics in europe, and it often matters little to market action. now the politics matters. it's an amazing turn of events. the key concern for the banking sector in london -- the big focus it is on past boarding rights. rights.orting i caught up with the mayor of london and asked him about that, must take backou control. he wants more control for london to set its own rules. camp, wantsremain to go along with the results of the referendum. he is very key for london to have a seat at the table. london does well, the country does well. that is why is it important for a seat around the negotiating table. london, to give upon -- the pun, to take back control. wanted toleave camp take back control. but it is early days. jonathan: thank you. david, so much uncertainty in the banks. don't think there is going to be a resolution for a long time. david: i am afraid that

anna edwards bringing us brexit coverage throughout the weekend here on bloomberg television. special coverage all weekend here on bloomberg tv. we have hourly updates throughout the day and a special live show at 5:00 p.m. on radio. we will bring you surveillance from 12:00 to three clock and sunday, a full day of coverage starting at 5:00 a.m. u.k. time. ♪ he is their device guy right now. it is a more collaborative environment then some places i've written about. carol: you talk about ping-pong tables and comcast is getting this whole thing on and it got away. >> once upon a time, it was symbolic for comcast to be all "we get internet and we get technology." that era was 78 years ago -- 7-8 years ago. david: they are putting a lot of eggs in one basket, this x1 system. >> what they saw five or six years ago, a lot of customers were getting overwhelmed in terms of too many cable channels and so many movies and tv series on demand. the menus were not keeping up. you could remember a couple numbers -- i like some channels in the 300s. people are starting to cut the cord and th

anna edwards to charles evans out of chicago, and he has been a most interesting and nuanced voice in the recent weeks. anna: thank you very much. is with me right now, so let's get to that conversation. great to have you on the program. into minesat you are going into the june fomc meeting. are you leaning one way or the other? charles: i tried to raise two possibilities. the expectation going into the meeting, i am expecting economic positions have improved. i expect that it will be appropriate to raise the funds rate twice in 2016 so by the end of the year we will be in the range of 75 to 100 basis points. unfortunately, i think it is going to take three years or more to get inflation to our 2% objective so what i tried to lay whether we thought it was more important to get to a 2% inflation sooner to solidify further inflations. there might be some value to think about holding off until we get core inflation up to 2%. that is not what i expect policy to be that i think it is worth getting inflation expectations up. anna: can you see a situation where they u.s. allows inflation to

tom: anna edwards, thank you so much. little bit of the flavor we have in london and across the united kingdom. in our next hour, andrew sentance will join us. always controversial, very opinionated. and then a conversation john browne on the emotion of remain. ♪ francine: tom keene and francine lacqua in london as we look ahead to that brexit referendum vote tomorrow. time for our morning must-read from the sun. on the first page they have the queen and on the second page they base lycee just basically say do not trust david cameron. they say look into his eyes and vote leave. this feels very personal. let's get erik nielsen. philipll with us is lond. how does the u.k. recover from this? are you concerned about political turmoil and less there is a very strong remain camp vote? erik: a close vote one way or another will be a mass and it will probably be a bigger mess if it is a brexit vote i think, because cameron would have to leave and get a new government. if it is a vote to remain, my guess would be that politicians

i am anna edwards. 6:00 in the morning in london.et us get to the state of the overall markets right now. despite the dreadful attack in turkey, the markets are focusing elsewhere it seems. it seems amoment, relief rally we saw yesterday seems to be broadly intact. let us have a look at that. we will have more on turkey later in the show. in terms with the market is doing right now, volatility has pulled back as the clock continues to tick on the brexit story. this is the s&p 500 and the nikkei volatility indices, both taking down. yesterday, slightly more risk entre in the market. are we expecting too much, for a little bit too much in terms of what they can deliver in the wake of the brexit result? we will have a look at that as the weeks and months unfold. looking at the risk radar, underlying we are in markets right now, the msci asia-pacific bouncing very strongly, 1.7% higher. it has now recovered almost half of what lost in friday, which is interesting. the gold price is also up. do not be under the impression that everything

francine: anna edwards, thank you so much. grauwe.us is paul de great to have you on the program as always. we wanted to take a little bit of a different angle with you. what would a brexit mean for the eu? paul: when you look at the economic picture, surely a brexit would be bad news for the european union. clearly, britain would experience a slowdown in economic activity. that itd dropping names would be more expensive and as a result it would be more difficult for eu countries, especially eurozone countries to export to the united kingdom so that would be an economic loss for the european con in general. -- continent in general. when i look at the politics, the political dimension of this in the longer term i am saying, the united kingdom has in the past all the time been a nation that tries to block further integration in europe. in fact, it has also been a force trying to deconstruct it. as you know, we have a model of integration based on the federal idea that you allow majority voting. the brits have always been against

anna edwards are back anna: third time not the charm, rebuffing chinese chairs being included in thendex, the yuan slumps the lowest in five years. global selloff as regional currencies we can ahead of the fed's latest rate decision. and brexit battle, boris johnson argues they can quit, as george osborne prepares to warn leaving the block could spark fiscal crisis. ♪ anna:

anna: i'm anna edwards. good morning, everybody. talk about what lies in store for david cameron today. he makes his first trip to brussels since the referendum. this was the first time he sat around the table with those eu leaders that have been rejected by the british public. david cameron will sit down to dinner tonight. he is on a different page in terms of the timing of the divorce between the u.k. and the eu. even as some on the eu are stopping in terms of the timing. the eu leaders themselves have been split on our hard to come down on david cameron and his team. the pound touching 1985 levels. stocks in the u.k. suffering their worst two days, friday into monday, since 1987. be thereeron will not for the second day of eu meetings because they want sometime to talk about the u.k. yusef: is this for real or is watched bits and pieces of david cameron's appearance at parliament. what was the key take away? anna: he is definitely ruling out a second referendum. that was around the internet, but david cameron ruled it out. he sai

rishaad: anna edwards will have the top stories from london. y, when it comes to u.k. anna: no end to the brexit blues. the pound slumps again. a weekend of political turmoil britain without legalists. engulfs the u.k., spain plays it safe and its general election. -- in its general election. we will have the latest from madrid.

i'm anna edwards.loomberg television. ♪ . . >> the art world is vibrant and booming as never before. it is a 21st century phenomenon. a global industry in its own right. "brilliant ideas" looks at the artists at the heart of this, artists with a unique power to astonish, challenge, and surprise. in this program, spanish --

mark: that was earlier today on bloomberg television, speaking to anna edwards. 4:22, we are literallyht minutes away from the european close. much more ahead. ♪ ♪ breaking news. according to sky, jeremy corbyn, the labor party leader in the ak. is said to have lost motion of no-confidence. we know that the labor mp's have been voting on this motion. it's not binding, but it could lead to an election. all they need is 20% of the labor party to submit a letter that over 14 members of the team in recent days. jeremy corbyn is said to have lost the motion of no-confidence. really quickly, stephen crabb, the minister of work and pensions said to tory leadership that he could be in the running in the leadership contest. remember, that kicks off close onand will thursday. he's an up-and-coming politician in his early 40's. stephen crabb is said to launch tory leadership. on wednesday he is set to bid on a joint ticket with the business secretary. it's all happening today. we will know on thursday who is of course throwing their hat into the ring when it comes to the leadership contest. the c

next, tomnce" is keene and anna edwards will be kicking off the conversation with charles evans. ♪ tomng, the may report on the american labor economy. in this hour, we searched for rage growth in america. the brexit debate heats up the prime minister. he will attempt to get to monday. a conversation with charles evans of chicago. good morning, this is bloomberg "surveillance," tom keene in new .ork, caroline hyde in london so much going on. what would you look for in the brexit

let's get back to westminster and speak to anna edwards who has a very important guest. anna.nna: thanks very much. another guest, talking to us from the leave side on the other side of the debate. tice.s richard good to see you again. i wondered if you could give us your sense, we are just one day away, how you think this is going? europe on a slightly different side of the campaign. it is -- campaign. richard: it is very close. as boris said, if you have confidence and belief in britain, people will vote to leave. the reasons are clear. not only economically, we will regain our sovereignty, our control, i will laws, our destiny. yes, it is going to be close. ultimately on the night, leave will win about five points. anna: you are a moneyman. some people in the markets have already made their mind up. talking to the bookies, we have heard a lot about -- does that worry you? the best bet on the market is three to one to leave. the end of the day, businesses will continue to strive and work and earn money. business will always find a way of getting weight -- getting things done

anna edwards is down on the green in westminster. as well as the resignation of the eu commissioner from the u.k., we also read from angela merkel within the last hour. what has she been saying. thanks. the u.k.rkel saying needs to spell out its view of future time. you are right in timing is a sticking point in the early days , post brexit vote. it seems all the voices coming from europe talking about getting on as quickly as possible. as well as the voice of boris johnson talking about no need to hurry, david cameron trying to hand over the reins of the party before talks with europe start to take place. that is clearly a point of tension. angela merkel said they need to spell out their future view. that may take some time. the campaign has been talking about how they did not want to stay in the common market. they realized they would have to pay for that, against other policies they did enact, freedom of movement and not paying any money to brussels. we will see what ends up being the u.k. proposal, but first you need to get the r

anna edwards is in westminster. anna: we will talk here in westminster to guests throughout today.studio we will get both sides of this debate. let's bring in one of the prominent they get in the leave the campaign. theear a lot about excessive red tape and legislation from brussels that a escape.leave would what does that mean? >> in the treasury's own estimate, the business community has a burden of 125 billion pounds per anum. theprime minister is advisor for the negotiation. the regulations were worth 33 billion pounds. if we shave that, it is a tenth of the treasury's estimate. that will be massive. anna: we need to know what those regulations are. one set of regulation to someone else's workers rights contingent. might decide they want to keep it those. >> that is what we're saying a 10th. we will want to keep some of them. there is a myriad of small regulations. for example, the requirement to get dossiers on very small ingredients for perfume and flavorings. other countries don't require that. they require them to make sure that the ingredients are safe. a british manufactu

anna: -- guy: anna edwards is outside of westminster. oined here by a member of parliament and the northern island secretary of state. it is great to have you on the program, you are a campaigner for the leave side. we wanted to get your thoughts on george soros saying the pound would fall 20% in the event of a brexit. if all of this comes to pass, would that be ok with the leave campaign? >> people like george soros have been predicting doom and gloom. anna: what about is the u.k. was to lose its credit rating? credit agencies are already warning that this could be a direct result. >> i don't believe for a moment that people are taken in by these rumors. we have seen that frankly, the big money in the city has made serious mistakes since the 2008 crash. i think most people in the united kingdom will be making up their minds on a basis of the facts. we have spent millions of pounds in brussels each week. there are high levels of uncontrolled immigration depressing wages. at the moment, the people who make our laws are often not the people

anna edwards is in london. : the markets are reacting to these polls. the pound is taking a pounding in the asian session. it's losing ground against all developed market peers. we saw pound volatility at one month. just to recap, we saw these two poles overnight. they suggested a lead campaign. the brexit camp 4% ahead. then the pound started to recover. just as the pound was recovering, we got another poll in the middle of this morning. it showed in even bigger lead for the brexit camp. somebody there was telling me a lot of the research for these polls being released was done during school holiday. bear that in mind. that hasn't changed the fact that markets are reacting. angela: david cameron is saying it would light a bomb under the u.k. economy. what sense of clarity do we have? anna: it's unknown. onre is a lot of tension both sides at a lot of heated debate on both sides. toe colleague francine talk a labour member of allah -- parliament. he highlighted something a lot of people are focusing in on here. ton people go to the polls answer the ques

anna edwards is live. lead in one poll for leave and it is looking to close to call. >> 10 days to go until we get to the eu referendum in the u.k.. the pound is under pressure. .en and gold surging the pound down against the yen and the dollar. by the most in nearly three years according to the latest data and it is not just in the currency markets. european stocks hitting two-month lows. mentioned they -- the leave camp ahead. there is a great deal of confusion, even the polling companies don't know exactly what the polls are telling them and they cannot call the results here. many people are looking for the betting markets. that is the implied probability of a brexit. all of the betting probabilities from the market-- some people don't like to talk about these -- what many investors want to because they say with the polls in such disarray they like to follow that money. with european equities underperforming, that will be the discussion point later. as far as the campaign is concerned, rolling out gordo

anna edwards interviewed the leader of the house of comments who just attended a cabinet meeting. >>e very clearly need to do what's in interest to the united kingdom. we have to get ready and make sure we have the right team in place. we will have to elect a new prime minister who takes the key decisions about when we trigger article 50. what will happen over the next few months is that there will be informed discussions between ourselves and other capitals. of course, there will be discussions on how things go ahead. the formal process will not start until we are ready. to francineet lacqua. said weekend when many there was a vacuum at the top of the government, it seems that if the likes of jaws john osborne and david cameron have come out fighting. francine: they are trying to give a sense of unity, but i do not know if there's a sense of unity . everyone is pushing back including john osborne could he decided to give a speech since we have not heard from him since 7:00 london time. it will be up to the new prime minister to trigger article 50 . who is the new prime o minister? t

i'm anna edwards in london. manus: i'm manus cranny in dubai. good morning. na: we have a great start for you. putting into context the foreign exchange movements have seen in 2016. the story yesterday was around the pound and we will get to that. an pound against the dollar, underperformer in 2016. it hasn't moved all that far from where it started this year. the yen a very different story. it advances this year as the pound falters to the yen. feeling the pressures of the polling data around the brexit data. that seems to move the japanese currency up as well. if we move up to where the assets have been moving overnight, you can take us through that. we heard this from george soros. manus: we talked about this as the show goes on. soros'xit is ion agenda. it really recovered yesterday. one quarter of 1% this morning. i find it most fastening that -- fascinating is that he said who would think it would take the pound for europe. the dollar-yen is also on the move. the longest rally under abe has just been broken. the longest streak. gold at the bottom of your

edwards,on and anna thank you. invousness out there, but the last 24 hours, a real shift towards remain. what makes it swing back? david: we will know within 48 hours. thank you, jonathan. investors are also watching the heads of two central banks. is waiting for a key address from mario draghi. mario draghi and the ecb have really stepped up on monetary policy. to what extent do you expect him to push lawmakers to say it is your turn now, what about fiscal policy? ryan: i'm sure he is going to say that. i'm sure he is likely to get asked about brexit, and what that might mean for ecb policy. he is going into a hearing that usually lasts for three hours. it comes down to what the members of the european parliament actually ask him. obviously, brexit is the elephant in the room. this happening two days before the referendum. asked, we can expect a couple of things. we heard janet yellen last week talk about how a brexit would pose a threat, both economically and financially, to markets. i think it wouldn't be shocki

manus cranny in duba anna: and i'm anna edwards in london. 2% compared to an estimate of 0.5% drop.ot the domestic story that seems to be weaker. it is the global story. investment demand is increasing for a third consecutive month. germany factory orders declined in april as demand for investment goes outside the 19 nation eurozone currency region. you may remember the bend its bank cut before -- you may remember the bank cut the rate. amongst a strengthening labor market and underpinning domestic spending. once again, it is the domestic playing against the international and it is they international story that is found wanting here. once gain, we have seen substantial revisions to the previous month. what are we expecting to see at the start of the european trading day? u.s. equities did not fall off the cliff that the result of the job data. we are expecting we will be a little bit stronger on the european equity markets on the start of monday's trading day. up by about 0.5% on the ftse 100. the market is still looking its froms generally, manus, what was a very weak number out on