we in the bank of england, we're at the center of the u.k.'inancial system, and that puts us in a position to support change and what we are doing is enabling competition and innovation we're empowering the changes that we think can take place, but we're doing that in a way that is true to our mission to maintain economic and financial stability. they're huge opportunities that come from innovation and finance, but you would expect me to also say as a central banker that there are risks that we have to be on top of >> what are some of the risks in a second i want to go back to london's place in all of this, and looking at statistics here and deloitte has said that the u.k. is, if anything, captures one of the biggest market share in the world for global fin tech activity. what we have is across the -- also, we have the skills that comes from being a global financial center, and we also have real drive to ino vat we've got all the ingredients to be successful, and the bank of england wants to support that success given its mission for monitorin

there for a moment, papers to run through including who may be the runners and riders for the new bank of englande for you including, where there is muck, there is brass. the inside track on how to make money out of waste. we'll talk to the boss of first mile about how to get businesses to maximise their recycling. you're with business live from bbc news. before all of that, let's talk some more about the cma decision with regard to sainsbury‘s and asda. it said the plans would have increased prices and reduced quality. stuart mcintosh has chaired the inquiry for the competition and markets authority. sainsbury‘s promised £1 billion of price cuts and selling stores. why was that not enough? we have confirmed we will block the merger, in taking the decision we were very aware of the promises on pricing, which you have described, and a couple of things on that. one is that the price reductions were predicated and linked to savings and costs, which we looked at very closely during the course of the enquiry and we have concluded they we re enquiry and we have concluded they were unlikely to be realis

guy: is it a prerequisite for whoever wants to be the next governor of the bank of england that they significant regulatory experience? andrew: i have spent years delicately steering around those questions. let me say this, what has changed in the post crisis is that the bank of england has been given an important regulatory response. the bank i joined in the 1990's had responsibilities, and we went a long way without having them, and it is appropriate the central bank should have those responsibilities. i am a strong supporter of that. i am involved in that work as a member of the committees. vonnie: how can you regulate banks in britain if you are not in agreement with european regulators on various issues? andrew: first of all, we work closely with european regulators. one of my guiding principles on this since the aftermath of the referendum, i became chief executive the week after the referendum when i moved from the bank of england, and had the experience leading up to the referendum. it would be a big mistake for us to lose contact, to isolate ourselves from our regulatory coun

will remain uncertain as we go to another election, and that's another reason to expect the bank of england to be more inclined to do less. >> somebody wanted to take a view on brexit i mean, we spent a lot of time talking about the currency it's been around actually remarkably resilient given what's happened in the last couple of months or so fixed income, as you mentioned, is extremely rich. would you say that given the asymmetry that exists in fixed income, if you wanted to express a positive view on the outcome, you're better off paying in rates or sending gilts than buying the currency? >> i certainly think people have certainly tried that >> right >> and they've tried it in terms of putting on money market steepness to anticipate bank of england rate hikes or selling the long end of the curve altogether selling break even inflation all those make sense, but they have been unrewarding for everybody because what we find is that day by day nothing happens. we get another day of nothing happens. >> the code for nothing happens in rate world because you are speaking my language, and i get

financial conduct authority and also seen as the front runner to defeat mark carney at the bank of englanded the consolation of challenges banks and financial regulators now face. andrew there is no question in : the period since the financial crisis a decade ago, what has happened is a global initiative to build stronger regulatory foundations. there is no question brexit will not impact on that increasingly grovel -- global approach which , is right because financial markets are global. guy is it a prerequisite for : whoever wants to be the next bank of england, they should have regulatory experience? andrew i have spent years : delicately steering around those questions. , what has this changed in the post crisis is that the bank of england has been given an important regulatory response. the bank i joined in the 1990's have responsibilities. it is appropriate the central bank should have those responsibilities and i am a strong supporter of that. i am involved in that work as a member of the committees. vonnie how can you regulate : banks in britain if you are not in agreement with eur

the university of chicago his name was also mentioned as one of the possible governors of the bank of england it is called the third pillar and i began by asking what is going wrong with capitalism these days quick. >> that fundamental strength provides opportunity for all what is changing is it isn't doing that anymore so at least three important factors the ecological change requires more skills and unfortunately some people get them that others don't focusing on the places in the big cities that benefit from technology as well as globalization those interior areas with manufacturing firms that leads to the third problem in the area that is declining the ability to get the good jobs is vanishing they are deteriorating the social structure is breaking down with more teenage pregnancies and families are broken much harder to get a foot up on the steps to good jobs. ways of technological innovation we have seen waves of globalization and to be discontent there is something more profound with the current malaise that people have of capitalism. >> what we explain is how what we have seen before

bank reflects diversity in its choice. i present this bill because i believe that the governor of the bank of england now has a unique opportunitys towards diversity and inclusion that are indeed taking place the old lady of threadneedle street. there have been 2a banknotes featuring a notable person on the reverse since the first was issued in july 1970. of these, all but three have been historic white men, the notable exceptions being three women — florence nightingale, elizabeth fry and jane austen. and she had some suggestions for the new note. mary seacole, the jamaican—british nurse who supported british troops during the crimean war and whose contribution has been recognised as equal to that of florence nightingale. noor inayat khan, a muslim of indian origin, who was the first female radio operator to infiltrate enemy occupied france in world war ii. sophia duleep singh, the prominent indian suffragette and member of the women?s social and political union. and not forgetting sir charles kao, the british—chinese scientist who won the nobel prize for physics and pioneered the use of fibre optics in telecommunications. ther

i will lump the bank of england with the fed. the global economy is not sending any signals of overheating. that the pressure is to the upside. if anything, we are seeing evidence that global growth is trending to the downside. pressure on aary global basis. i struggle to find any argument for any of the key central banks around the globe to take a more hawkish position at this point. i think dovish across the board is what we would expect to see in the near term. vonnie: thank you. let's check in with kailey leinz. kailey: high drama in venezuela. juan guaido is calling for military uprising. trump diminished rations as they support the people in their quest for freedom. in of --laimed the juan guaido claimed the end of the presidency of nicolas maduro. are back intors beijing trying to wrap up a trade agreement. steven mnuchin told reporters, he is looking forward to making progress. you are not common on specific issues. lead aek, they will delegation to the u.s. technology has denied u.s. allegations that they stole from the w

the ceo seen as the front runner to defeat mark carney at the bank of england, he discussed the consolationchallenges banks and financial regulators now face. question in the period since the financial crisis a decade ago, what has happened is a global initiative to build stronger regulatory foundations. there is no question brexit will not impact on that global, which is right because financial markets are global. prerequisite for whoever wants to be the next bank of england, they should have regulatory experience? delicatelypent years steering around those questions. what has changed is that the bank of england is an important regulatory response, the bank i joined in the 1990's have responsibilities. it is appropriate the central bank should have those responsibilities and i am a strong supporter of that. >> how can you regulate banks in britain if you are not in agreement with european regulators on various issues? all, we work closely with european regulators. my guiding principle on this since the aftermath of the referendum, i became chief executive the week after the had theum and e

how hawkish could the bank of if at all, would that be risky? >> i think the bank of englandinue to have its hawkish tone so that generally some tightening is warranted. with brexit being extended to halloween, the first rate hike is unlikely to be before november. what the bank of england has to do now is recalibrate its hawkish tilt. recalibration. thank you. europe.t for daybreak vacation so you have me for the whole week. the market open is up next. anna edwards and matt miller. ♪ anna: good morning. welcome to "bloomberg markets: european open." good morning. ok withets say we are socialists and separatists. sanchez wins the spanish election. investors consider him a known quantity. they consider potential nationalization. the open in 30 minutes time.

together with uk treasury secretary for the kremlin and we said to working group together with bank of england european central bank, uk treasury and european commission to assess risks to financial stability and take necessary measures passing a temporary accord for the determination, to say mitigating potential. none of these concerns, maybe not as immediate, the question is how longer term the financial services could look like, and there was an agreement in this withdrawal agreement and political declaration that this could be based on a system of equivalent decisions. eu was running an equivalent system which is the most advanced in the world which means both sides preserve autonomy, that is what taking back control mean for determinations of each other but it is done sector by sector. and it implies the framework and supervisory practices for the lottery framework and produce equivalent outcomes. for determinations. >> to the euro zone economy for the ims, and talking about the future, and on the external shot going on, how are you feeling about trade between the us and the euro zone and

and the job ad for the next governor of the bank of england has gone up. ere be another international candidate? the former head of the reserve bank of india is one of the candidates being spoken about. i think andrew bailey remains the favourite but there is a question of whether, in the first time in almost 350 years, the bank of england will appoint a first female governor. that is one of the things people looking at the slightly longer odds candidates are thinking about. simon, thank you very much. we have been waiting a while for a simon who makes sense on this programme! let's look at the markets! the ftse100 is down this programme! let's look at the markets! the ftse 100 is down this afternoon, outperformed by the frankfurt dax. positive results from the big software company, the snp has helped lift the dax. crude oil coming down from the highs it was hitting earlier in the week with concerns about supply limits easing. right. thank you. are you 0k? concerns about supply limits easing. right. thank you. are you ok? i was just resting! that was ben pl

hands and not knowing what to do, and not investing. 40% the market is pricing a chance of a bank of englandate hike. -- does that number change? george: i think it brings the bank back into play, potentially. at the moment the problem we are seeing is that all of the uncertainty generated by the brexit process will eventually feed into the data, and we see higher manufacturing output and manufacturing building. i am not sure that will continue over another nine to 12 months. i think the risk is that investment uncertainty shows up in the data which prevents the back of -- the bank of england from raising rates. i think we might get a deals at some point sooner which would bring the bank back into play. vonnie: after so long with very little starting volatility, we are getting it. starting down half a percent earlier in the week, and the prospect of an agreement. we were at 130 point 06. 130.06. been -- have you changed your sterling forecast? george: we say that sterling has been stable. isalmost feels like sterling waiting for something to happen either way, with her that be a no deal whic

. >> we've had stark warnings from anyone from mark carney from the bank of england to mario drago and they came out with a study that -- saying that it could cost up to 40 billion annually of losses to euro zone countries. where do we stand in terms of actually looking at the future of the financial trading center? are other european capitals very well-poised? we have frankfurt. a lot of clearing to frankfurt. are they well-poised to take some of the activities across the branches of financial services? >> well, i would say we have two parts of response to this question, because one question is what happens in case of no deal scenario, and the second question is what happens if there is an orderly withdrawal with a deal. so, in a no deal scenario, of course, it will have been very disruptive, and we have been preparing contingency measures for the case of no deal brexit. so, basically we were working together with the u.k. treasury, philip hammond, and set together a working group together with the bank of england, the european central bank and the european commission to assess risks

he is also seen as a front runner for the next top job at the bank of england, replacing mark carney as governor. vonnie: let's begin with earnings. reporting.ies facebook seen stronger user group -- facebook and microsoft reporting tomorrow. two european banks reporting this week, including barclays and deutsche bank. sarah, we have had great performances this morning, including hasbro, twitter, and kohl's is up almost 8%? sarah: we have been seeing nice reports. we are 20% of the way through earnings season, and a third of the companies in the s&p 500 report this week, so this week will be a doozy. we have seen 78% of companies beating their expectations. what really has been interesting has been the lack of performance afterwards from the broad markets. you look at the average stock in the s&p, 24 hours after reporting, have gained half a percentage point. today, we're seeing nice gains from companies that posted really great results coming including twitter and coca-cola -- results, including twitter and coca-cola. center --ve the tech we have the tech sector firmly in focus, but

and the bank of england says that uncertainty played a big role in that.as spoken to the movers and shakers in the business world over the last few months and there's a clear theme that's emerged. we need to know what's happening and it might be that these things come down the horizon, if oliver sudden this happens, we can't absorb it. the uk is an important termination for airbus, we have to say to the people listening that the future investments will be under review. the predictability is a very important element, that's why uncertainty has caused a lot a second thought about continuing business in the uk. lesley batchelor is director general of the institute of export & international trade. you obviously are a trade expert, let's first of all talk about the possibilities on friday. because if nothing is sorted out, as things stand, we will leave the eu with no deal. what does that mean in terms of our trade relationships?m deal. what does that mean in terms of our trade relationships? it means at our trade relationships are left in limbo because we are

joseph: there is a simple risk the bank of england removes forward guidance. f england the last of the g10 central banks to move away from a target by. that i do not think is fully priced in. talking aboutbeen trade a lot as we count down to what could be a final resolution at the end of may. when you look at the yuan, what do you think is going to be an acceptable range for the u.s.? >> the yuan has more upside. the year closes to seven if and when the chinese and u.s. governments do have their trade plan agreed, we will see a short-term bump to the yuan. the longer-term problems the current-account has collapsed. this fiscal stimulus we are seeing in the chinese economic data will spill over into imports. seee is a risk this year we chinese current-account turn into a deficit. sophie: thank you for the roundup of the currency markets. next, we are speaking exclusively with the china education cfo. we will be talking about their earnings and opportunities outside of china. this is bloomberg. ♪ paul: this is "daybreak asia are ."--- this is daybreak asia sophie

regardless of whether the brexit outcome is, whatever that is, are your institutions going to be needing to do more direct trading with continental banks by the those, regulated bank of englandou plag this happen? michael: we have set up a vehicle that encompasses our u.k. operation. we have separated are european operation from that. we have hang seng brokerages in both jurisdictions and at this point -- we have banks and brokerages in both jurisdictions at this point. anybody else care to weigh in on that? diamond said uncertainties but we have put the planning in place. is this an area you need to be in? what you doing for the world economy? >> we need to be in europe, absolutely. we finance the largest institutions in the world, a predominant number of which are in the u.s. rep. huizenga: i will be submitting questions and i want to say thank you, jamie dimon and michael corbat from your involvement and -- in detroit. rep. waters --

is no deal is misnamed no deal is really a succession of deals, and as the government of the bank of englandast week, 80% of firms surveyed by the bank of england are now prepared the challenge with no deal is the lack of confidence because no one has explained it, and it's very opaque as to how much preparation has been done by the u.k., by the e.u., or by firms clearly, some sectors will be impacted autos, chemicals, the farming sector we know from the financial sector, the city of london preparings have been put in place since as early as april 2017 really we want a free trade deal with the e.u that was proposed by the e.u. beginning of last year jim o'neil just said to me last night, he said i don't know where people like jared lions get off not worrying about hard brexit or no deal brexit a lot of damage has been done by what's happening in the auto sector because they have concerns about it. he says real issues affecting the u.k., as well as the northern powerhouse will be made so much worse by no deal brexit as well. you're right to reply. >> well, interesting to people making those c

the bank of england has d - [male narrator] coming up on reel south. - negrgro leadader today announcedlans for crcreation of a acack buil, black owned town to bebe calld soul citity in north carolina. - in this new town, persons will be able to control their own destinini. - [male narrator] floyd mckissick left harlem to create his vision of black power in the rural south. - floyd and i, all of us, we wanted to build a new town. that's a hell of a challenge. - afaffordable housising, healthcare, people were going to get jobs. we t thought we had a vevery good plan in place. the question then was how would we execute any of it. - building is empowering. i want to be a part of building something new. that was the dream for me, to be a piece of this.

as a deal between the government and the bankers of the day propping up the bank of england every banking system is the product of a deal between a politician and the bankers and market rules show the game in action going on since the sixties and going all around the world at the same time. so now as dick pointed out to create a banking system to suppress competition and protect existing banks and from other financial companies and the suppression seeing, on - - competition in and banks can offer interest on the deposits so the market rules talk about the debates and in its day to generate the views that was passionate and considered vital and then talking about the audience and then to decide to make you are proving my point to breakdown by age the audience. [laughter] how old you have to be? but as the book story begins the government restricted limited price and product competition as it was to promote safety with the cartel run by the government as the cartel manager made the banking system safe but sluggish and banks of the fifties interestingly enough owned more treasury bon

i love that the bank of england -- >> the cameron and osborne thing to take carney in the first place of canada before that but previously was marvin king, who's british. >> they've hired from different places >> clearly that opens up the field. lots of people apply >> 2 to 1 doesn't strike me as a lock for the favorite. still somewhat long odds >> anybody's guess >> and i'm looking at amazon's launch of free one-day shipping. we've been talking about this. that's for prime members raising the bar for other big reerths such as target and walmart. their shares really did take a steep hit on the news. i think that was a slight surprise reflex every time amazon announces some initiative that the incumbent retailer gets smacked. obviously it's going to raise costs across the industry. and i think the market is saying look, is it just they're going to have to spend more just to maintain market share? >> it's interesting timing on the dow after they have a big eps beat that they say we can do something that might hit margins. >> it incentivizes you to spend more on amazon prime and less on

going forward they're going to meet again soon for the timetable is very much against them in the bank of england governor mark carney has come out today saying that he fears that a no deal bret's it is still very much a real risk or young cat has actually said the same and emphasize the importance of this twelve april deadline let's listen. twelve of april is the final date for possible approval if the house of commons does not adopt a stance before that date no extension no short term extension will be possible after the twelve to be paroled we will run the risk of jeopardizing the correct running of the european elections and the correct functioning of the european union . and this all as well paul i guess has to go to the european council special summit next week and people are still saying look the french president emanuel might call he might kybosh the whole thing yes i mean there's no appetite while there's little appetite in europe to have this whole sorry saga as far as the concerned go on and on in the coming months potentially creating a headache for them is britain going to join the e

so that we can get breathing room for markets, maybe a little bit for the economy, may be the bank of englandgland as well. one of the most amazing things with my time in london last week was that king and carney were not on the same page. what does that mean for the central bank? expand on that. ebrahim: the bank of england had been fairly confident on the economic outlook toward normalizing policy. but it has been held back by two factors -- one is ongoing brexit uncertainty, but now that seems to be slowing the economy down sharply. window,ve a long enough maybe the bank of england can spring back into action and we could see them hike again this year. for the time being, markets are pricing cuts. that is because everything is going in the other direction. tom: right now, your first word news in new york city with viviana hurtado. viviana: kirstjen nielsen is out. she is apparently a casualty of president trump's frustration with the border and system. bloomberg learning that she was asked to resign or the president is said to want a strong law enforcement type figure in charge of home and

meanwhile, bank of england governor mark carney said today the risk of a new deal brexit is "alarmingly high." global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. we are joined by our bloomberg and bnn bloomberg audiences. shery: breaking news moments ago. millions of facebook users records were found on amazon cloud servers. we have the details in the school next. trade talks time to start again in d.c.. reports say the u.s. and china agreed on most things except on how to police the agreement. and shockwaves across the hockey that thenews came out canadian women's hockey league will fold the next month. we talk to the interim commissioner of the league. more on the bloomberg scoop and the breaking news that millions of facebook records were found on amazon cloud servers. have found rows of user information hiding in plain sight. a

. >> we've had very strong warnings from anyone from the bank of england on the no deal brexit not only to the uk but across the economy. the foundation came out with a study saying that it could cost up to ,40 billion annually. where do we stand in terms of actually looking at the future of the financial trading center , other european capitals are well boys and we have a lot of the clearing moving to frankfurt, they well boys to take some of the activity across financial services? >> we have two parts of responses to this question so what happens in case of no deals scenario and the second question is what have if there is an orderly withdrawal with the deal. so, in no deal scenario of horse it would've been ready and we have been preparing contingency measures for the case of no new brexit and we put our working group together with the bank of your england and the uk treasury and the uk commission for financial stability and to take necessary measures for example we pass determination so to say, mitigating the potential effect. now the concern is not maybe has immediate so, the quest

the bank of england says the face of the new note will be someone who's contributed to science in thets way through short of no fewer than 989 people who meet its criteria. could switching to vaping and e—cigarettes be a way to cut down on deaths from smoking? 0ne memberfrom the house of lords is a a fan. over five years ago i used to smoke 50 cigarettes a day. since then i took up vaping and i have not had a puff of tobacco since. shouldn't the government do more to encourage smokers to switch to vaping? i would like to emphasise to the house that smoking rates are now at their goal is to levels recorded and we should be proud of the fact that the uk is seen as a world leader in tobacco control. a labour mp who was the target of a neo—nazi murder plot has shared details of her ordeal. jack renshaw who admitted plotting to kill rosa cooper is due to be sentenced next one. she called on the re—introduction of diplock courts used during the troubles. i was to be murdered to send a message to the state, to send a message to this place. members of this house are regularly abused and attac

would be five thousand to ten thousand points higher if the central bank had done its job properly brags it is of rubbish the bank of englandand its canadian governor mark carney prediction on the economic impact of britain's decision to leave the european union president to when of turkey triggered short selling of the lira after the central bank started propping up the currency ahead. of elections and more doubts a been cast on india's economic data the central bank has lowered interest rates just before elections there all this at a time when the international monetary fund has lowered projections for growth to three point three percent the lowest growth since two thousand and nine well joining us here in doha to talk more about this is aqua khan senior director of asset management and welcome so about the independence of the central banks it seems that the they're there under threat from several leaders in the world president trump and in turkey modi in india and so on what do you make of that. so when it's very easy for a politician to want to use the resources of the state to help them get reelected it would only be n

rates likely to remain on hold for the bank of england on thursday. jobs numbers on friday.ll with us is matthew hornbeck, greg staples, and iain stealey. what are you looking for next week from chairman powell? iain: what will be interesting is his taken reading on inflation. that is the ship we have seen over the past few months. that is the fed's mandate now. they know the growth side is ok. to me, what is the lower bound, what will be low enough to knock them into cutting rates at this stage? matthew: the idea of an insurance rate cut is definitely something people are going to be interested in hearing about. depending on what he says in his prepared remarks, hopefully some enterprising reporters will ask him about the concept of an insurance rate cut. jonathan: maybe some here at bloomberg that may ask the question. walkway through that concept. a win to michael mckee. walk me through this concept of an insurance rate cut. matthew: when you go back and look at the first rate cuts in each of the previous several insurance camed up when you read the fomc transcript. this

sewer systems and other people said no because if you have a corporation people will think of the bank of england and jefferson as the plastic about the bank of england. they said the states cannot claim money. they had been arguing endlessly about those ever since that the war was kept out because right from the start, americans have a mistrust about the power the government can grant. because they left those words out that is where he got the ability to stay in prime power, so there's all these things that were changed forever in a landmark supreme court decision. all of this came from banking and i did believe after writing the book though i may be prejudiced. you can tell the history of the united states through banking and finance they had been integral and always argued about front and center including the politics in the country. i say a bit of hamilton and jefferson especially with the popularity of the broadway play. how many people have seen it? my husband still doesn't know how much i paid for the ticket. everyone thinks it is hamilton and jefferson arguing about fame and what they wer

some kind of strong willingness in parliament for a customs union, what might that due to the bank of englandwould that support your sterling -- do to the bank of england? would that support your sterling play? there are major hurdles. sterling, respect to i am very much taking a medium-term view. tom thinking three years five years out. if you're are running a u.k. fund, if you are long of global equities, which you should be, what you do not want to happen is you get a positive brexit resolution and sterling goes up 15% to 20% and you don't make any money in your overseas equities. to me, it is absolutely logical that you want to be hedging overseas f x risk. x risk. sterling has been behaving pretty well. it is a diversifier. the fx market is being very sensible. the has been a relative price shift and you have had a reasonable degree of stability. manus: one could say sensible or deleted. that is a whole other debate. eric stays with us. our fund manager from m&g investments. let's check in on the markets from around the world. we have dani burger. good morning. dani: good morning, manus.

would be five thousand to ten thousand points higher if the central bank had done its job properly breaks it is of rubbish the bank of england and its canadian governor mark carney prediction on the economic impact of britain's decision to leave the european union president of turkey triggered short selling of the lira after the central bank started propping up the currency and. of elections and more doubts been cast on india's economic data the central bank has lowered interest rates just before elections there all this at a time when the international monetary fund has lowered projections for growth to three point three percent the lowest growth since two thousand and nine well joining us here in doha to talk more about this is aqua khan senior director of asset management and welcome so about the independence of the central banks it seems that the they're there under threat from several leaders in the words of president trump and in turkey modi in india and so on what do you make of that. so when it's very easy for a politician to want to use the resources of the state to help them get reelected it would only be natural c

might actually opt for no deal and there is still the risk of that happening according to the bank of england governor mark carney he has spoken today saying the risk of a new deal is still very real now it's taking a long while because the bill has been vociferously opposed by many conservatives who believe that stampeding a piece of legislation like this through the lower house the commons in just one day is simply undemocratic they're not happy at all about it so they've been fighting it tooth and nail as has the government on some of the amendments the question is it could actually progress now into the house of lords other news today is frankly the fallout of this. cooperation between the prime minister and the leader of the opposition it's created a stink for both of the parties to resign maybe the prime minister is getting in the neck from have m.p.'s who believe that she is betraying the principles of rexx it that they fought so hard for the labor leader jeremy corbyn is also under fire because he's not really putting a people's vote in into his considerations or what he's taking to t

the search has begun for mark carney‘s successor as the governor of the bank of england. the post. for the first time the government is using a recruitment agency to find a successor. ten days on since climate change activists took to the streets, blocking key routes in central london, organisers say the protest will end by tomorrow evening. more than a thousand people have been arrested so far. and ten thousand officers have been deployed across the capital. tonight questions have been raised about whether the police have the right powers to deal with this type of peaceful protest. sonja jessup reports from marble arch. campaigners told us, this is our last stand. a few remaining protesters removed from the road at marble arch. our last standard that came with singing and even smiled shed with police at the campaign has brought serious disruption to london and today they were calls to tackle such protests with new laws. these public order acts, you need time to carry them out. you need to gather your evidence. we need to respond immediately and clearly saying you cannot b

regardless of whether the brexit outcome is, whatever that is, are your institutions going to be needing to do more direct trading with continental banks through those regulated by the bank of england or how are you planning on having this happen i'll take mr. corbat >> as i stated earlier, we have set up a vehicle now that encompasses our uk operation we've separated our european operation from that. >> okay. >> we have banks we are brokerages in both jurisdictions and at this point -- >> are you going to be dealing more with the continental banks, then, directly >> i don't believe so. >> okay. all right. anybody else care to weigh in on that but you feel prepared and i think mr. dimon or somebody earlier had said uncertainties but we have put the planning in place, correct is this actually -- is this an area that you need to be in? what are you doing for the world economy? mr. gorman, mr. dimon. >> we need to be in europe, absolutely listen, we collectively finance the largest institutions in the world, predominant number of which are in the u.s. so we absolutely need to serve them globally >> thank you and i will be submitting some questions earlier and i do want to say thank yo