peter brower is the chairman here at bloomberg lp. the government has fielded off -- will the supreme court gave theresa may another headache? this is bloomberg. guy: 22 minutes into the market open. european markets will bid. ons lawmakers have passed -- brexit. they require the government to publish a plan for leaving the e.u.. what that plan look like, we don't know yet. the motion is not legally binding but mp's will uphold the result. not all of them, 80 plus it not vote for it. this is not actually the brexit plan. reporter at the court. patrick, does the decision some weight mp's minimize the importance of the supreme court ruling across the road? how do these two things interact? if she winds, they have to put forward legislation regardless, but it is certainly stuck in the minds of the judges. a man wanted to know if we already had some sort of unanimous support like a motion in parliament, why would we have to go back and have legislation again? what that seem odd to the regular guy in the street? we have tose, and remember,

vonnie: that was bank of england governor mark carney along with ofhael bloomberg, founder bloomberg lpparent of bloomberg news, inexpensive interview with francine lacqua. mark: jean-claude trichet says the fed is doing a good job and has prepared the market well for a rate hike. his thoughts on the european banking system not nearly as optimistic. hear what he had to say. this is bloomberg. ♪ vonnie: you are watching bloomberg. i am vonnie queen had -- vonnie quinn. mark: and i am mark breton. this is a global business report. jean-claude trichet tells us why the european banking sector needs restructuring. vonnie: opec is warning it might take a while for production costs to be felt in the market. mark: greece prime minister alexis tsipras is forcing through tough austerity measures, but are they enough? let's start with u.s. banking systems. speaking to bloomberg, former european central bank president jean-claude trichet a discussed the steps taken to dismiss -- diminish risk in the global banking industry and the need for consolidation. jean-claude: we have a necessity for restruc

chairman of bloomberg lp, the parent of bloomberg news, is a senior independent nonexecutive directormoking gun -- helped lenders are banks rigged the market. eight months after the german banks settled the lawsuit saying it manipulated gold and silver prices. representatives of ubs, and deutsche bank didn't respond to females. deutsche bank may have been -- taken part in a fraudulent scheme. that is according to an audit commission by german regulators and seen by bloomberg news. a spokesperson for deutsche bank declined to comment beyond in october statement that it it intended to put forth a depend -- defense in court. -- the $2.6 billion deal is part of the italian lenders plan to boost capital. the purchase will make it the , holding about one third of the stock, which will allow it to control his supervisory board and make changes in management. that is the bloomberg business flash. francine: thank you. now, the ceo of property developer north acre is with us. we are talking about super nets. your job is different from what people imagine. you are a developer. you sell luxury ho

the chairman of bloomberg lp, the parent of bloomberg news, is a director at glencore. holding gains as opec agrees to its first production cut in eight years. saudi arabia, iraq, and iran bridged their differences. opec members will cut production by 1.2 million barrels a day while russia also changed its stance and will reduce output. >> during the meeting when we were drawing up the accord, but we still had some difficult questions to solve, which are essential, the russian energy minister gave the information that he would reduce by 300 barrels a day --300,000 barrels a day. sebastian: china's official factory gauge climbs to a high. the manufacturing pmi rose to 51.7 in november. import prices dropped to the strongest reading since march 2011, signaling that inflationary pressures may be building. that is your bloomberg first word news. francine: thank you so much. we are getting some breaking news out of the u.k. this is significant, as every piece of news is poured over to understand what mark carney will do and what brexit means for the u.k. economy. we have man

one disclaimer, the chairman of bloomberg lp, a parent of bloomberg news, is a senior independent nonexecutiveector at glencore. coming up, are there more -- coming to the united kingdom banks? we will to you what you need to know about potential moves at credit suisse and rbs. this is bloomberg. ♪ >> this is the european close here on bloomberg market. time now for a look at some of the biggest business stories in the news right now. unemployment in the euro area has unexpectedly fallen to its lowest level in more than seven years. the jobless rate declined in october 2 9.8%. gambling revenue posted its biggest increase in three years last month. 14% or more than it did a year ago. the fourth straight month of gains. operators have been attracting more families and casual gatherers. latest at business flash. on the chopping block, credit cutse is about 25 jobless in london to cut costs. analysts at our cleat's say rbs will likely deepen cuts at investment banks after the lender flaunt boe for stress tests. moore, me now is michael who covered u.k. banks for bloomberg news. run us through the

the opinions and views expressed do not reflect the opinions of bloomberg lp, its affiliates or employeesam about humana medicare advantage prescription drug plan. >> welcome to your medicare, your decision, the program that guides you through the medicare options available from humana. there are many different medicare choices available today. are you sure you have the right medicare plan? are you with the right company? do you wonder if you could save money with a different plan? no matter what medicare coverage you have now, this program will give you the information and facts you need so you can make a

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is chairman of bloomberg lp a senior independent nonexecutive director at glencore.et's see how we are set to open as we take the baton from markets in asia. a slightly lower picture across the board for the ftse 100. futures also called lower. as interesting in the u.s. story is a lot of these oil and gas companies are on a tear off the back of the opec deal. downside pressure on the dividend payers on the back of the higher yield curve. anna: some of the oil companies listed in europe managed to react to that story which might explain some of the diversions you see from asia where the msci pacific was up into this european session where we are expected to open lower. let's have a look at the risk radar, shall we? yousef: let's bring up the risk radar. anna: let's do that in a moment. gauged has matched a high thanks to a credit fuel recovery. the manufacturing pmi rose in november beating estimates. jumped to the strongest reading since march 2011 signaling that inflationary pressures may be building in the world's second-largest economy. yousef: the dollar has see

fortune cameberg's from 72 percent ownership stake in the financial information firm he started, bloomberg lpyou can find that story on cnn this morning. chris in florida. independent. good morning. caller: thank you for putting me on. the samee that standards should apply to everyone. just because you sold off your businesses doesn't mean that nancy pelosi should get a pass while people are attacking donald trump. host: let me move on to mike in arizona. republican. caller: good morning. [indiscernible] host: it's impossible to hear you. you are breaking up quite a bit. suzanne in for the. a democrat. -- suzanne in florida. caller: the reason why i'm calling is because with donald trump, all of his potential in thets of interest financial situation that is because, i'm confused it doesn't seem as if we can accountable to actually get his taxes, there's nothing we can really do, from what i'm hearing. we get promises but no follow-through. there's no repercussions. with us not knowing his , with notreaching having the taxes, is there anything we can do to find out this information through a c

but one thing i will get straight, the chairman of bloomberg lp, peter brower, is a senior in dependentexecutive director at glencore. lifting volume 10% for them when it comes to oil from the current level. these are huge numbers. david: might expand my they were so willing to go along with that opec deal. alix: good call. i like it. coming up, a special envoy on the glencore rosneft deal. ♪ alix: this is "bloomberg daybreak," i'm alix steel. trade. where we s&p futures riding slightly higher. the dax, over 11,000. the dollar, trading heavy into the meeting. the euro, if you look at the boards, you can see it moving at a three week high. 107 is how we trade into the meeting. yields climbing higher across the board. the italian yield, up six basis points. david? david: here's what you need to know at this hour. draghi's decision. the european central bank releases its decision just minutes from now. everyone is counting on an extension of the quantitative easing program as the italian lender reportedly told the ecb that they needed more time to recapitalize. we will bring you that decis

lp,chairman of bloomberg the parent of bloomberg news, is a senior independent director i at glencorehe bank employees might have been part of an allegedly fraudulent scheme to help banca monte dei paschi conceal losses. that is according to an audit issued by german regulators. a spokesperson declined to comment beyond an october statement that said the lender intended to put forward evidence in court. unicredit has agreed to sell 32.8% of its bank unit to ensure a polished development fund. the $2.6 million deal is part of the plan to boost capital. the purchase will make the polish government the biggest pekao shareholder, holding 1/3 of the stop, allowing you to control the supervisory board and make changes. that is your bloomberg business flash. manus: thank you very much. let's turn our attention to china's exports. they snapped a seven-month losing streak, in dollar terms. let's get to tom mackenzie, standing by to break the numbers down. this is china triumph and good news, tom? tom: overall, yes. there was a bounce, a 0.1% increase to export volumes in november. that does no

bloomberg daybreak." next hour,n the blackstone energy partners and ceo david fully joins us to talk opec, oil, and lps and mlp's and more. david: this is bloomberg. like it's doing to the rest of the world, digital technology is transforming banks. on the forefront of that transformation are people like cathy bessant. is in new york today to celebrate her number one ranking among institutional investors top tech 50. of bank of america's 200-9000 employees, 100,000 report up to kathy. what are those 100,000 people doing? they are doing everything from designing great technology to processing manual checks to cash are inints and atm machines, not just in the u.s., but around the world. david: give me a rough sense, how much is defensive and how much is offensive? we have some systems as opposed to we are really changing the business. cathy: technology and operations do th both at the same time. we should be using regulation to produce great customer service. if we are moving the business forward, that should in turn reduce risk. i see them as totally interrelated. david: let's talk about b2c first. what exa