anna edwards is at the supreme court in central london. anna, great work throughout the day. if the government loses, what exactly happens? anna: right, well, i asked that question. over my shoulder, you might be able to see gina miller at the supreme court. she is one of the respondents in this case, bringing the original case. she is an asset manager in the u.k., along with a hairdresser, being the case against the governor that went to the high court in november. it is the high court ruling that the government is appealing today. there is wide expectation. we spoke to edit agricole on this matter. they say the expectation for the market at the moment is that the government does lose. if the government does lose, where we end up is, the government has to draft some kind of brief legislation that goes to parliament, in some form, perhaps being explained by the justices of the supreme court. members of the parliament, members of the house of lords, get to make amendments to the bill. the significance of this is basically, how much does this slow down, even if it does not enti

anna edwards is off doing that.orst passing and yet in terms of the demonetization effects, how does it impact you? where does it impact you? has the worst passed? ivan: we have certainly got impacted. business, in spite of it, grew first half and hour premium brands, prestige and above, grew 11%. it did have an impact, and i expect it to have a bit of an quarter as well. we will come through it and in yet remains very attractive for spirits, because it is a young population, the penetration of premium spirits brands is still low, and we remain optimistic of the growth prospects of india. it is our second biggest market in revenue terms and we have the market-leading position. scotch whiskey business is growing double digits. johnny walker was up 23%, soanya india is very attractive. indians of whiskey and they love premium whiskey, and we are a company that knows how to do that well. i wonder about china. the chinese love cognac, and that love affair cooled off at the beginning of this decade, but we are seeing sig

it is anna edwards. good to see you this morning. this ruling. take me through what it means and the ramifications if the government loses. you very much. we will get to that during the program. we are here at the supreme court. the government will here today from this highest court in the country. rulingl remember that a in november said the government cannot trigger article 50 a loan. they have to take the houses of parliament with them. has the people in the house of commons and the house of lords been able to delay things. those people are not expecting this to stop breaks it but only slow it down and reshape it a little bit. 9:30 a.m. is when we will get the judgment today. we will cover all of that. here is shery ahn with the first word news. --ry: donald trump has told has pulled the u.s. from the tpp . he left the north american free trade agreement with mexico and canada in tact for now but action on that is still in the works. he also vowed that "there will be major border tax on companies that move jobs outside of the u.s.." treasury s

anna edwards joins us from outside the supreme court in london.romy jefferson joins us -- what is the significance of today's ruling? >> thank you. at 97 pages of judgment from the supreme court, the 11th supreme court justices behind me find against the government. they stuck with the decision of the high court, which means theresa may and her government have to go through parliament to trigger article 50. not everything went against the government. been the ssibility that the government would be told they need to consult the parliament in scotland, the assembly in wales, and northern ireland. they did not do that. that is not what the supreme court said had to be done. bad news if you leave the scottish nationalists party. good news for theresa may. plenty of hurdles ahead. the government still wants to trigger article 50 by the end of march. that could be a tall order when you consider all the stages of the legislative process that need to be gone through in the house of commons and house of lords to get a bill we have not seen yet through parl

let's get over to anna edwards who is outside the uk's of record. the significance of the ruling by the supreme court today. anna: thank you. justice newberg come just two minutes into a six minute statement come to get to the part of the verdict of the supreme court today. it told us the prime minister had lost -- they would need to stick to the high court ruling of november. they would need to go to the houses of parliament to ask or get their say-so in triggering article 50. 2.5 hours ago, we heard from the brexit secretary who stood up any house of commons and gave the government's reaction. this is what he said. >> this government is determined to deliver on the decision taken by the people of the united kingdom and the referendum granted by this house to leave the european union. we will move swiftly to do just that. say: he also went on to there will be putting before parliament something that is very short bill. the legislation will come within days. the reason is it is about trying to stick to the timetable. they said they want to stick to t

anna edwards is outside the court right now. anna, what will she do if she loses today? anna: good morning, matt. i'm outside the supreme court. if she loses today, she will try and bring a short as possible, simple as possible piece of legislation to the houses of parliament to get its approval, the idea being -- keep it short, and that gives those who object to it and object to brexit less chance to attach amendments. that is where the power of parliament comes in, not necessarily to block or stop brexit, but to soften it or to slow it down. what kind of amendments are various parties in the house of commons might try to attached to this piece of legislation, that will be crucial in determining just how hard or soft a brexit the u.k. ends up embarking on. guy: one of the critical things, in my mind, is whether or not the devolved administrations in the united kingdom get some sort of a say in this process, because that could have an effect on thit. anna: absolutely. it's not entirely clear to what extent the justices are going to actually, in great detail, dictate the

francine: anna edwards in westminster. have a great story on the bloomberg terminal, saying that frankfurt and new york maybe the winners, as u.s. banks retreat from the u.k. i want to get richard jefferies -- richard jeffrey's take on this. this is the premium investors demand to hold some of the etf's. this is what we drafted. stocks.acking u.k. it means there is still a little bit of hope in the market that parliament will try to mend brexit so we get a softened brexit. richard jeffrey, chief economist at caps on capital -- cast capital management, is still with us. is there a feeling this will not be as clean-cut, as ugly, as cliffhanger, esther risa make he's telling us? she says brexit is brexit. is it? richard: funnily enough, the clean-cut is almost the easiest. things in between are what will cause uncertainty. people in markets have accepted that brexit is going to happen. they have listen to politicians. disruption, aredstanding by people who against brexit, but it is going to go through, and probably within the

anna edwards is in westminster. to pass the bill, but will there be any amendments? anna: one of the big questions. bill, or the eu notification of withdrawal bill as it is technically known. theresaeme court said may couldn't just trigger brexit by herself, she needed approval from parliament. bill only, keep it simple and you have less chance of debate and amendments. we know they s&p plans to table some 50 amendments. other parties, including labor, want to table some. labor doesn't want to stand in the way, the s&p likely to vote again. what we will know is a little more about the timing, how much of a smooth ride it will get. this is just the second of a 10 stage ross us. we will also and no more about how much of a freehand theresa may has to shape the brexit in the way she wants to. how soon could we actually see brexit triggered? how long do i have to wait? anna: well, they have always said -- theresa may said at the conservative party conference, the end of march was the target. now we see reports that coul

anna: and i'm anna edwards in westminster. good morning.heresa mayecause and her government are trying to get 137 word brexit bill, the eu notification and withdrawal bill, through the comments and through the lords to meet that self-imposed deadline of the end of march. that is what we will learn over the next couple days. to what extent is she going to have a free rein to get on with that job, and to what extent are her hands going to be tied in terms of the timing? all the details with amendments, plans werech iis the from mp, who were overwhelmingly further remain side, but a lot has changed since then. that is what we will talk about over the next few hours, as we build our way to the start of the debates at noon. let's check in on the breaking news and the risk radar as well. manus: we have one of the global brokerage houses -- the stock has doubled versus its competitor. ¥17.3come at 17. billion. a year ago was ¥35 billion. you can catch all the coverage from the editors. first overseas profit in seven years, a bigger u.s. exposure -

i am anna edwards. welcome to bloomberg markets. s what we're watching on bloomberg markets. the pound gets humbled as concern grows that the u.k. prime minister is prepared to leave britain out of the european union's single market. davos takes center stage as leaders from around the globe gather at the world economic forum in switzerland here at we hear from the event's founder. m&aa clear deal from action. essilorord agreeing -- agreeing to purchase luxottica. shares jumping on the news. welcome to bloomberg markets. about 19 minutes to the close of european trading. here is a look at the equity markets right now. mark barton has the details. ,ark: great report today by ubs saying value has beaten growth by 19% over 183 days. value can still be found in the region. investors want more evidence. still waiting to see if earnings growth will turn positive for europe after a decade of false promises and for more political cut 30. that is ubs. we're down today because of political uncertainty. percentage moves in sterling to it to brex

anna edwards, good to see you. take it away. anna: thank you very much. very good to see you. us talk about the european open then. a lot of politics on the radar today on both sides of the atlantic and that's no doubt will capture imaginations. on that to be said about the russian story, no doubt. let us have a look at where the equity market is opening up. the asian session was a pretty positive one. a bit of weakness coming through in china and we are a touch positive on the european start of trade, but things taking a while to settle down, but not much in it. a lot of politics carrying on the in the background. telecoms not doing too badly. utilities and energy, perhaps our laggards, but no great moves coming through on the stoxx 600 at this time of the trading day. opening up. mark carney in front of the treasury committee, talking about his expectations around the u.k. economy and talking no doubt about interest rates and what should and should not be done to support the economy at this time, so great investors might be looking at that for information. too early to start

unilever, that's where anna edwards is off to as we speak. we will get the full-year figures at 7:00 a.m. and hear from the ceo. ata is sitting down with him 7:50 u.k. time. stay with us. this is bloomberg. ♪ manus: breaking news coming across the bloomberg terminal. johnson & johnson will a four billion deal.0 johnson & johnson are to ion, it will drive their revenue higher. the deal was unanimously approved by both boards. the deal will close by the second quarter of this year. 280.8 swissg, francs. be a substantial minority that is spun off. the r&d unitn off did itnson & johnson outside thede -- united states. repatriate your dollars back to the united states of america. johnson & johnson closes the deal. let's get the business flash. >> ebay predicted annual revenue that may rise as much a 6% to $9.5 billion, topping analyst estimates. it's the best outlook in years for the company. investors gave their vote of approval with ebay shares soaring in after-hours trading. credit suisse is exploring options for expanding in dublin according t

i am anna edwards. a busy week already.ng through from the telecoms business in the u.k.. revenue ofg adjusted 6.1 3 billion. members coming through. is seenderlying revenue as broadly flat. they described a challenging outlook in the u.k. public sector. what we heard from the earlier was very much around their accounting unit and the write-down they were taking there. also cautious words coming from bt earlier this week about the u.k. public-sector and its ability and inclination to spend. somebody to lead their italian business after the u.k. scandal in the unit? that is a question hanging over the business. on tuesday, the company suffered 21% stock drop after lowering its profit outlook. weaker performance in international corporate business. those numbers coming through from bt this morning. let's look at the futures. muted trading in asia, partly explained by markets over there are closed. we have some trading in other parts. trading in japan, this is the picture of the european starks at -- stocks at the start of tra

i am anna edwards welcome to "bloomberg markets." ng -- anna: here is what we are watching. the prime minister's critical brexit speech tomorrow. davos takes center stage as leaders around the globe gather at the world economic forum in switzerland. deal.r some m&a action this monday. the ray-banbuy maker. chairs jumping on the news. a warm welcome to "bloomberg markets," for this special edition today. 12:00 noon in london. that is where we find mark barton, pouring of the details of the day's equity trading session in europe. mark: great

jon: for more on the countdown to brexit, we are joined by anna edwards in london. two significant pieces of news. one really against the government and scotland and northern ireland will not get a say on the process. a: this is a 97 page judgment handed down by the supreme court here in the u.k. around 2.5 hours ago. 97 pages here. the government will be trying to put something short and sweet in front of the u.k. parliament. the lost their appeal at supreme court which means they have to put a bid in front of parliament. they will try to make it short so there is as little to object .o as possible heard from various parties in the houses of parliament that they will be looking to introduce amendments. that will delay the process. i just caught up with hillary from the labor party opposition. the timetable is still possible. that is what this is all about now. the timing and the softness and hardness of exit. -- brexit. how many of the amendments will be able to influence just kind of brexit we get? the parliament in scotland and the assembly in wales and the north

when governor edward in the least anna expanded coverage, we saw the numbers and the sign-ups increasedery rapidly. >> can you comment about your path forward air? the governor wants an expansion. the legislature may not want an expansion. how do you proceed? >> with regard to the interpretation of state law, we leave that to the governor. with regard to our role we will process the governor's proposal as expeditiously as possible when we get it. >> thank you a president obama promised the affordable tract would create a vibrant market to lower the cost of insurance. that hasn't necessarily happen. i did not come to pass. >> the question is where it's happening, how much this is happening. for all of us as i said, mostly in this room, the 150 million folks who have insurance through your employer, and five at the last six years coming year premium growth has been the lowest it has been recorded. in terms of helping with the costs, we know medicare spending has been much lower than was predicted. over $300 billion lowered and was it before the affordable care act. for many americans who

. ♪ anna: a warm welcome to "bloomberg daybreak: europe." , i'm annain london edwards.anus: i manus cranny. is at the world economic forum. looking forward to banking with the big thing, hsbc, we will hear more from them. that will be a big theme in the next 30 minutes as well. francine: we will speak to the head of the investment bank at ubs and berries ceos to try to get the temperatures on how they see risk and what their most concerned about. what i'm looking forward to is our panel on populism. you can call it the angry middle class. lagardeeak to christine , and radel lyons, who is a big fan of what donald trump is trying to do with the u.s. economy. really want to answer, do central banks have a say in this? are they the ones that lay the foundation? if you are a politician nowadays, remember there are elections in france, netherlands, and germany. what can you do to reconnect with your citizens? we will be joined by the brazilian finance minister on that panel and the italian prime minister. thank you very francine. stay with us for a moment. this is a chip equi