because mark carney is proven in a crisis, the fa ct carney is proven in a crisis, the fact markets willhim to step up reduces the margin of something bad happening should the uk go for a no deal, hard brexit. in that scenario i know this is crystal ball gazing territory and there are so many variables, but what is it the markets and investors like about mark carney and the way they think he will step in, what will he do if there is a hard brexit? the thing is, ifa there is a hard brexit? the thing is, if a risk materialises, markets have to resolve what is a problem between the way the world looks on one day versus another. that means prices have to changing markets, lots of contracts have to be revised, assets need to be exchanged. what the bank of england can do in those early hours is supply the market with enough liquidity to make sure they function smoothly. that is what the bank of england promised to do on the day of the brexit vote. then a few weeks after that the bank of england would assess the economy. if it expected an economic impact it could cut interest rates, do a little

to keep mark carney at the bank of england," "treasury plays down reports of mark carney being askedalks to retain mark carney beyond 2019", "carney expected to leave bank of england and 2019, who will replace mark carney?" governor, you will have seen the headlines and appreciate that the uncertainty is both of great interest, but does cause uncertainty. i would like you to let us know what your intentions are as to remaining in yourjob. 0k. if nothing else, that shows the limits of social media, but let me say i fully recognise that during this critical period, it's important that everyone does everything they can to help with the transition to exiting the european union. and that's everyone from business people to parliamentarians, to public servants, including central bankers. and according to — even though i have already agreed to extend my time to support a smooth brexit, i am willing to do whatever else i can in order to provide a smooth brexit and an effective transition at the bank of england, and i would emphasise the second point as well to make sure that transition proces

carney's term expires next june. global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in over 120 countries. i'm courtney donohoe. this is bloomberg. vonnie: let's get more on mark carney. quick check of the pound. talks.ere the u.k. premised are thinking mark carney is doing a very good job and there will be more news shortly from that meeting. the office of theresa may confirmed that hammond and carney discussed his future. keeping this waiting. right now the british pound is about .3% weaker versus the u.s. dollar. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. i'mime romaine bostick -- romaine bostick. the u.k. government has just been speaking about mark carney's future. theresa may's office says there will be an update on the boe governor shortly. not quite sure what shortly means. somebody who might know is stephanie flanders. we don't know whether it's going to be today or another day. right? >> we are getting a sense that it's not g

norman, what is the significance of mark carney staying on in the job for a while? decision which will frankly infuriate any brexiteers because mark carney is blu ntly brexiteers because mark carney is bluntly viewed as a hate figure by many of them, they consider him one of the dark forces behind project fear because of what they view as his gloomy predictions about the prospects for the british economy post breaks it. now philip hammond has said actually we are going to carry on with him a bit longer on tilljanuary 2020 carry on with him a bit longer on till january 2020 and carry on with him a bit longer on tilljanuary 2020 and that is the second time mr hammond has decided just to keep mr mr carney in post and on top of that the reason mr hammond has given is economic turbulence, in other words he's a bit concerned about how things might go post brexit and he wants continuity and stability. all this at exactly the moment that the brexiteers are having a big shebang press co nfe re nce brexiteers are having a big shebang press conference in the house of commons t

when you think about what mark carney has done post—brexit, mark carney has been the only stable partich has managed to stay independent from any voting the government has done but really act ina way government has done but really act in a way to, number one, calm the markets. straight after the referendum we had such massive moves in the market. he has calmed the market with rate moves, he has moved rates at the right times. the governor of the bank of england is a job where you get a lot thrust at you, blame around the economy if the market is not going well, that all goes on the market policy, but mark carney has done a good job. and the reason for this has to be that the safe pair of hands will then take us through what is going to be one of the most challenging times for this country. i know the chancellor of the exchequer, philip hammond, is very relieved to see he is staying on, but when you say he has remained independent, he has been really criticise for some of his comments about the impact that the uk's independence from the european union will have on the uk economy. he ha

nerves.rying to calm the carney side is what alternatives did carney have? past he was in the going to try and go be canadian prime minister. the date is actually about what alternative carney an that job he used to hold in canada comes up again in june 2020. so the timing looks to be consistent. i think we should understand this is about calming nerves and despite the fact that nigel farage said this was absolutely appalling, i think it was an extremely sensible thing to do amidst the chaos of brexit. vonnie: we don't even know if other people would have been willing to take on the job. hammond just said that a brexit wheel -- deal in six to eight weeks was doable. are these real statements? are we mere weeks away from the brexit deal? >> if hammond says that, maybe knows something that nobody else knows. because all we have seen for two years is basically next to nothing. did talk about the need for both parties to be realistic. if you look at what's been coming out of the may government and the ministers in charge of these negotiations, realistic certainl

carney has done a good job. the positive review suggests carney could be set to extend his role at the bank of england as britain aims to steady the ship during brexit downing street said the government will make further announcements on carney's future on due course. the british select committee asked carney if he was prepared to head on as head of the central bank >> i am willing to do what i can to promote a smooth brexit and effective transition at the bank of england i would emphasize the second point as well to make sure that transition process is done in an effective and orderly manner the chancellor and i have discussed this i would expect an announcement to be made in due course >> carney was asked to comment on the direction of sterling in the event of a no-deal brexit as well as a situation whereby britain secures an agreement >> if i could turn it to glass half full in the event of an agreement, and a suitable transition to that agreement, one could see more positive momentum behind the currency >> i

mark carney's warning. the bank of england governor is a tall ministers that i know deal brexit could trigger higher rates with prices plunging by as much as 35%. he speaks later this morning. a half-hourss than away from the start of european stock trading. let's take a look first off that futures. we have gains on the ftse futures up about a third of 1%. slightly stronger gains on dax and cap futures. look at treasuries just to show you the yield has not come down much. take a look at my chart. i have three days here. you can see yesterday we had a little bit of a drop, but it came back. we are still trading at 2.97% right now. so close to that 3% level. it seems like risk feeling is not really affecting the yield very much at all, whether it is on or off. we are hovering around a 3% level. it will be interesting to watch going into next week. nejra: the emerging-market turmoil and trade turmoil did not seem to be a rate story. we had that cpi data out of the u.s. which we will talk about shortly. let's h

mark carney said he wa nted that today. mark carney said he wanted to see a successful brexit.today. the big point is this that the decision for this delay means that the search for this delay means that the search for the next governor does not have to start until after britain is scheduled to leave the european union in march of next year. thank you. still on the brexit the... the chief executive of jaguar land rover has warned that tens of thousands ofjobs are at risk in the uk if the government fails to secure what he called the "right" brexit deal. ralph speth said a poor deal would cost his company more than £1 billion and would force it to consider moving jobs and production to another part of europe. our deputy political editor, john pienaar, is at westminster. a real sense again today from different quarters that the pressure is mounting on the prime minister. absolutely. the prime minister is anxious to avoid a hard brexit. it cannot have been comfortable for her to go to birmingham promoting british carmaking and then hear warnings from the boss of jaguar land rover

carney's warning. he is said to tell ministers that and no deal brexit could lead to a 35% plunge in home prices and would force the central bank to drive up rates. welcome to "daybreak europe." 6:00 a.m. in london. thean get you up on markets. the msci asia-pacific index ending the week on a high. a second day of gains. emerging markets as well performing pretty well. we have the rate hike from the turkish central bank. a hike, a surprise upside of 625 basis points on that one week repo rate. we saw the turkish lira rally as much as 5%. we are seeing weakening in this section. 6.14 is where we trade. weaker by .9%. if we look at what the dollar is doing, it is heading for a weekly loss. biggest weekly loss since a february, i believe. we got the u.s. inflation print coming in software, something we are keeping an eye on in the u.s. mixed picture with the chinese data, so lots to look ahead to in the show in terms of talking through central banks and the emerging markets base, but as we mark 10 years s

the bbc reports mark carney is in talks for staying. global news 24 hours a day, online and at tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm kailey leinz. this is bloomberg. thank you very much. coming up. president trump said there is no political necessity for keeping canada in nafta. the latest from washington. this is bloomberg. ♪ ♪ caroline: live from new york, i'm caroline hyde. this is "bloomberg markets." president trump slamming decades of abuse with a new threat to terminate nafta. this comes after talks with canada stalled. the present tweeted, there is no political necessity to keep canada in the new nafta deal. if we don't make a fair deal for the u.s. after decades of abuse, canada will be out. interferehould not with these negotiate and i will terminate nafta entirely and we will be better off. he is said to put additional tariffs on chinese goods this week. joining us to talk about what alex.s when we look at these shots on negotiations for canada trying to get a win-win

carney sneaking into the back of downing street yesterday.nk of england would not confirm or deny if he was there, 10 downing street eventually did. it's not clear that those warnings that he gave whether they are misconstrued or misunderstood by members of the cabinet. in your view how worried should the british cabinet be about the possibility of a no deal >> i suspect he was talking about just not a no dell thal t wasn't planned, i imagine he was talking about a no deal planned and not planned so if you have something that's a surprise, you come to the 29th of march, all of a sudden we're out, we were not intending to be out and we have no deal that's a much bigger problem than going into this saying we want no deal you can transition for that. if you have no deal, no transition, you could be in a serious mess that's what i think he was talking about. that housing prices could fall sharply, recession, unemployment rise significantly i imagine all of that is certainly a possibility if we get into a no-deal situation without planning for it.

carney stay or carney go?arney staying on as governor beyond his term, which ends in june next year. more on this in a moment. output from britain's manufacturing sector has fallen to its lowest level in more than two years in august following a collapse in overseas demand. the markit/cips uk manufacturing purchasing managers' index showed a reading of 52.8 last month, down 53.8 injuly and well below economist expectations of 5a. and water companies have set out plans to cut bills for millions of consumers in england and wales. severn trent and united utilities said they would cut the average bill by 5% and 10.5% respectively. thames water said bills would be unchanged. south west water says it would offer customers a stake in the business. news today that the governor of the bank of england may stay in hisjob longer than previously planned. the bbc understands that the treasury and the bank of england are in discussions about mark carney staying on as governor beyond his present departure date ofjune 2019. re

|j can't believe that mark carney is particularly delighted about this.ancellor has been putting pressure on him recently to ask if he would stay on for his original five—year term. ask if he would stay on for his originalfive—yearterm. —— ask if he would stay on for his original five—year term. —— the brexit magnets. —— madness. when you look at mark carney, you kind of have to have some sympathy for him because he came over here with such fa nfa re because he came over here with such fanfare if you remember. he was such a coup for george osborne getting him. he would be in charge of this transition. it would bring a set of the revelers —— recession. and now he has been sidelined in the last few years because he hasn't been the main story. he has been having to firefight brexit. and not been hugely popular. an issue with theresa may. they have a scratch or relationship. yeah, she was critical of him and his monetary policies in 2016 and the tory party conference speech. he's also not terribly

the issue is not actually about mark carney.always this tendency to think any individual policymakers are replaceable. ifcain said,hn greenspan died, sanders would prop them up to make sure we didn't have a problem. op-edrnanke wrote an targetshat inflation are about depersonalizing monetary policy, not making it about one individual. any reasonable candidate would be just as good. anna: if it were all about inflation targeting, your point is well made. what about the challenges of navigating brexit? right.are absolutely brexit presents a unique challenge for the u.k. economy. committee.about the there are people at the fx -- fsa and pra. if it is all about one individual, that should not be the point. trying to stay honest about the economic effects of brexit, which are bad. but they are trying not to be political. it is better to talk about one individual negotiating their bank ors, than a committee position. manus: we have a chart here for you, regarding productivity. we're looking at how tough it could be if we had a hard re

carney sounds the alarm.he bank of england governor is set to one a no deal brexit could lead to rate hikes. hurricane florence hits. the u.s. prepares for widespread destruction on the carolina coast. we look at the impact, from oil to livestock. ♪ good morning, everyone and welcome to "bloomberg surveillance." these are your markets. we see a little bit of a lift to the stoxx 600, getting some 0.15%. i am looking at the dollar index. it's about trade and some of the positioning in the global markets, and that goes back to trade. i will show turkish lira later on. with everything going on in the central bank they are trying to show their independence. russia's central bank coming out with its rate decision a little later on. after mark carney is said to have talked about the implications of a hard brexit from the eu, the pound not moving that much. bank spun off its asset management unit earlier this year. keep it right here on "bloomberg surveillance." we will be speaking to the chief executive of investec

interesting, the comments from mark carney.e on all of this on the website, including the analysis i mentioned earlier so dig deep and look at what we have for you on bbc online. and if you're planning today to fly to from germany with ryanair. take note. the airline says it will cancel 150 flights out of 400, due to a 24—hour strike by pilots and cabin crew. the row over pay and conditions follows a series of strikes over the summer. affected passengers will be offered alternative flights, the airline says. so, if that is your plan today, check. a quick look at the markets today, what's on the mind of investors now? we mentioned the mines ten years ago, is the trade war that's going on between the us and china, this has been a theme all week for asian markets. they have been under pressure most of the week, apart from japan, with a weaker yen, elsewhere the concern about what might come next from the white house, the $200 billion of tariffs on goods threat, will it become a reality? i'll be back in a moment. free to use cash m

it is not for me to resolve your made >> mark carney. a lot of conversation over the last 48 hours about the future of mark carney. carney --ave complete clarity although there is reported we will hear from the treasury soon. looks like he is keeping things they. it matters at the margin? he said brexit is such a huge unknown. >> i think so. around ofncertainty brexit. we don't know which way this is going to go. the knowledge, knowing what the -- to the central bank governor will be and what his policies are, how he reacted in 2016, seeing positive i markets. that could give comfort. it should be taken as a positive thing. >> seem positively by markets. by brexiteers. let me ask what percentage attached to various outcomes. politicians seem to throw them around. what percentage are you were touching know deal brexit? >> i think it is difficult to pose a percentage. there are so many different ways this could go. it is difficult to call the politics. if we get a transition agreement, there should be a way to muddle through. we started th

carney he founded the head carney network which was responsible for decades of suicide bomb attacks and hostage taking his death has been reported several times before he was thought to be in his eighty's and had been better it. is causing floods and landslides warnings in southwestern japan the strongest typhoon there for more than twenty years brought two hundred kilometer an hour winds flights and train services a cancelled and evacuation orders issued for homeowners emergency austerity measures have been announced by the president of argentina. is cutting the number of ministers in his government almost by half as well as boosting export taxes to try to stem the currency crisis. more now on the hardtop sea and that of the reported death of. osama bin looks back on how he created a network in northern waziristan in pakistan that has become known for its complex well organized attacks on both the afghan and the u.s. military. this remote and rugged land on the border with is believed to have been home to some of the world's most wanted group of fighters among them the network led by t

not only are you write but i do a ploy that carney and i am glad he was around. —— i do applaud carneytay with that, that is interesting. i've said that many times because i'm more balance to the new but what i do object to is before the referendum, he and his like were saying, immediately after the referendum, there will be an emergency budget, we are at the point where the experts are at it again and we are all going to hell ina hand again and we are all going to hell in a hand basket. that bit of this, i don't applaud him. if he was going to do it, it should be done in seriously strictest confidence. 0ne thing that happened, if you got a house price reduction of 30%, and a lot of people who benefit from that. a final port? a lot of people who accuse carney of getting its forecasts wrong should remember there are a lot of people on the brexit side to get their forecasts wrong, leaving the european union would be a walk in the park. david davies said it would be so easy and lookout fiendishly difficult it is. even among the european research group, they can‘t agree among themselves. i

that means mark carney to stay on. over how long he might stay, the former member of the monetary policy committee of the bank of england says that this issue around the timetable for his departure is causing confusion in the market. we could at least see some clarity tomorrow. mark carney, his first appearance in public since the summer holiday, it will be in front of the treasury select committee. i am sure members of that committee will be asking him what his intentions are dumb and how long he might want to stay. -- what his intentions are, and how long he might want to stay. jeremy corbyn's leadership of the labour party has been bolstered after some of his strongest supporters were elected to the party's ruling body, the national executive committee. among them was peter willsman, who was re—elected despite suggesting that allegations of anti—semitism in the paty were being driven by "trump fa natics". he later said he deeply regretted his remarks. the group elected also includes jon lansman, a staunch corbyn sup

mark carney does next that is making headlines in the u.k.eclined to comment on speculation he may be staying past his june deadline of next year. tropical cyclone has come ashore in japan in the past 25 years. it has picked up speed. flights and trains have been canceled. companies are forced to temporarily close. been cut to more than 350,000 homes and offices. global news on air, 24 hours a day and at tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. guy: thanks very much, indeed. facts youabout the need to be paying attention. -- paying attention to. dani: an update in european markets. strong factor movements to the upside. one month volatility also a standout. we are seeing score in this group, the french company moving upward, leading the euro stocks 600. on the downside, a lot of momentum-type factors leading the market down. side,s actually the short the 14 day rsi -- weaker companies get day bid -- get a bid today. there is a three month target price change. we've is an f

mark carney spoke to francine lacqua in new york. the best companies across a range of industries and geographies -- part of what came of 2000 ofn a survey the top companies around the world. all of those companies were the vast majority are disclosing at risk due to climate. i will come back to what is material and what is useful. trillion going to warrant. the key thing that we are seeing disclosure,f static what is my carbon footprint if you will is you are getting management more involved thinking about strategy and how it is affected. term,an use an awkward strategic resilience. how resilient are you to changing climate policies?

how important is this steady hand of carney? it is interesting reports first surfaced from "the evening standard" which is edited by the guy formerly employed there. >> it is one of those conundrums we might be reading too much into. equally, it is hard to ignore. it is not just "the standard." we have heard from the bbc who have said they are in talks. this is not just coming from one source. we are hearing it from all over the place. caroline: it is worth reminding ourselves he was not the most usual hire because he was initially employed for a five-year term. it looks like it is lengthening. why might dup government -- the u.k. government want him to stay? >> it does add an element of stability. ofextended once at the end 2016. he said he would stay for a next her year to make sure he was there for brexit. he should have already left. he is now staying until june of next year. will he extend for a year beyond that? it would be good for the government because it gives them stability and a steady hand. it does also invite incre

in the meantime, mark carney says he can handle brexit.ined the bank of england, hejoined and when hejoined the bank of england, he joined and signed when hejoined the bank of england, hejoined and signed up saying he would do his term at the head without knowing what was in store. when he took on the term, he said he would only do it for five years and then he said he would stay on for a six year. he gives you a long—term sense of where he is going but he will say this week whether or not he remained at the bank of england and some people have told the financial times that he has something to work on it britain leaves the european union, he can get his teeth into something interesting. but if we crash out, he may want to go. something interesting. but if we crash out, he may want to goli something interesting. but if we crash out, he may want to go. i met mark carney a couple of times and some describe him as the george clooney and he has four daughters and they are quite young and he is thinking about them and their future and something

mark carney was one of the people who attended the event. he spoke with us.f the conversation is leadership on climate related financial disclosures. carney says there is increasing demand for companies to disclose climate related information. there was $25 trillion in assets. the task force comes out. now it is $100 trillion. the globallys of systemic banks and shores looking for this type of information. companies are starting to disclose. they throw away the stuff that getot useful in been you the better disclosure and real progress. [indiscernible] ,> i think the best companies part of what came out is the survey around the world and you see all of those companies are disclosing at least some aspect in their main report. this is a process you learn by doing. the $100 trillion to make their capital allocations? i think that keeping we are is you are getting more involved and it is a disclosure that uses strategic resilience, so how resilient are you in changing climate -- >> when it comes to air pollution, water? >> i think what is relative is footprint. .

i heard a joke earlier today, can he or carney?o bring stability during the turmoil. jeremy is back as promised. you will be watching that later, won't you? yes, it's important to understand the thought process of mark carney because he originally came on for a five—year term and it will be interesting to see if it extends even further. what is this story about concerning boeing 747s piling 7 about concerning boeing 747s piling t about concerning boeing 747s piling up? it is really a problem with the global supply chain. they are churning out these aeroplanes at re cord churning out these aeroplanes at record rate but because some of the component parts in the engine sector are not ready in time, it is causing them to beat hearts finished and now boeing are trying to find parking slots which is quite astonishing. and this is a trend in the aviation sector that people want these smaller, fuel efficient, light aircraft. it's no longer about the super jumbos. aircraft. it's no longer about the superjumbos. yes, it is about these small

on this programme, the chancellor announces mark carney is to extend his term as governor of the bankgland. he will continue until the end of january 2020 in order to help support continuity in our economy during this period. mps debate the government's latest counterterrorism plans and the bbc director—general tells mps the future of free tv licences for the over 75s is to to be reviewed. there's a load of options and we are not in the position to say in all honesty what the right option would be. but first, mark carney is to stay in his job tilljanuary 2020, in order to give continuity during what philip hammond says could be a turbulent time. mark carney has in the past been criticised by pro—brexit mps for taking in their view too pessimistic an approach to the uk's exit on the eu. the governor had been due to step down injune. the news came in answer to a question from the chair of the treasury committee. can my right honourable friend indicate to the house when he expects to be able to let us know about discussions he's been having with the current holder of that post about exte

let's talk mark carney.or people at home, the governor saying he is warned the cabinet about the no deal brexit and how it could be as catastrophic as a financial crisis that crippled the economy a decade ago. he said worst case scenario we are talking 35% falls in house prices over three yea rs. falls in house prices over three years. this sounds terrible, should we qualify this, i mean, is this scaremongering, is this true? as far as we know it's behind close doors, as we know it's behind close doors, as far as we know this is part of what he might call contingency planning, they are looking at absolutely the worst case scenario, what we've heard from the eu over the last few days is a different story, there will be some kind of deal, it shouldn't be a surprise the sort of planning is being done. it's hisjob, isn't it? sort of planning is being done. it's his job, isn't it? it's sort of planning is being done. it's hisjob, isn't it? it's hisjob sort of planning is being done. it's his job, isn't it? it's h

also tonight: mark carney agrees to stay on until 2020 as governor of the bank of england to try to help a smooth brexit. saved by her husband — the wife of one of the westminster terror attack victims tells an inquest of his last moments. england have won the test match. england win the fifth test against india, as james anderson becomes the most successful fast bowler in test cricket. revealed again after the summer heatwave — homes in a lost valley in cornwall re—emerge after more than 50 years underwater. and coming up in sportsday later in the hour on bbc news: scottish football is staying in glasgow, as the sfa do a deal to buy hampden park. good evening and welcome to the bbc news at six. britain's most senior police officer says the government's refusal to increase police pay by 3% was like a punch on the nose. cressida dick says she was "extremely disappointed" by the decision to give police a 2% rise — despite an independent panel recommending it should be more. the home secretary, sajid javid, said he understood the pressures facing the police, but had to consider affordabilit

mark carney was one of the financial leaders who attended the event.is clue civi exclusively on financial disclosures -- the focus of the conversation is leadership on climate related financial disclosures. carney says there is increasing demand for companies to disclose climate related information. >> there was $25 trillion in assets under management. the task force comes out and says this is not what we should do and now it is $100 trillion. three quarters of the globally systemic banks, the sovereign wealth funds and insurers looking for this type of information. companies are starting to disclose. they throw away the stuff that is not useful in been you get the better disclosure and real progress. >> what are the kinds of frictions that you are feeling -- banks who do not want to disclose? >> i think the best companies, part of what came out is the survey of the 2000 top companies around the world and you see all of those companies are disclosing at least some aspect in their main report. they are moving. this is a process of learning by doing. wha

lloyd blankfein of goldman sachs who used to be the boss of governor of the bank of england mark carney was accused of misleading congress do you think boyd blankfein was lying or was he telling the truth that. well he was not being straight with his clients in a lot of ways and we showed that in his bipartisan report and he wasn't being straight with the congress when he said that there was no massive bet against goldman's clients sums all wall street down the city of london for what they were long before the fifteenth of september twenty eighth and it wasn't just socialist politicians like germany call business or coming those who worked in the banks themselves saw it coming and when they told their superiors they were sacked joining me now is paul moore author of crash bang wallop in the former head of regulatory risk and one of the biggest banks in the world h. boss paul thanks for coming back on they'll be acres of newsprint loads of stories about the ten year anniversary some people saying this isn't an accounting story a political story it's a criminal story it's a tale full of s

mark carney is expected to step down in 2019.

erik: up next, bank of england governor mark carney discusses another global threat.etting businesses to disclose climate information. >> you get that better capital exposure. erik: this is bloomberg. ♪ erik: you're watching bloomberg west. we have a special recap of the 2018 bloomberg business forum. mark carney was one of the global financial leaders who attended the event. he spoke with us. the focus of the conversation is his leadership on climate related financial disclosures. it had just released a status report. carney says there is increasing demand for companies to disclose climate related information. >> there was $25 trillion in assets. the task force comes out. it says this is how we should do the disclosure. three quarters of the globally systemic banks and shores looking for this type of information. companies are starting to disclose. the providers of capital are looking at it. they throw away the stuff that is not useful in been you get the better disclosure and real progress. do you are the frictions see that people don't want to disclose? >> i think

bank of we hear from england governor mark carney on his efforts to get companies to report on theirrelated risk. that exclusive conversation is next. this is bloomberg. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. nejra: economics, finance, politics, this is "bloomberg surveillance." cehic in for francine lacqua in london. let's check in on what's trending across the bloomberg universe on tictoc. it's nearly impossible to imagine tesla without elon musk, but the sec lawsuit has raised questions about his future. on a day of emotional testimony from both sides, brett kavanaugh deny the sexual allegations against him. president donald tr

mark carney will stay on the job until january, 2020.d to step down next june, but philip hammond ended days of speculation by saying he would help steer the british economy in the wake of brexit. global news, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. this comingars ago weekend, lehman brothers collapsed, triggering the worst financial crisis in almost a century. we are focusing on life since the crisis, with key figures who were there through it all. we are looking at financial regulations, starting with tarp. >> today, i am announcing the treasury will purchase equity stakes in a wide variety of banks and thrifts. government owning a stake in any private u.s. company is objectionable to most americans, me included. yet the alternative of living businesses and consumers without access to financing is totally unacceptable. >> we would love to see the opportunity for dodd-frank to be modified to a lasting -- to allow banks to take responsible risk-taking into the markets. >> i don't

mark carney was one of the many global financial leaders who attended the event.with francine lacqua. the focus of the conversation is leadership on a task force on financial disclosures, which just released its first report. carney says there is increasing demand for companies to disclose climate related information. mark: there was $25 trillion in assets under management. the task force comes out, a private sector task force says this is how we should do the disclosure. now it is $100 trillion. more than global gdp. three quarters of the globally systemic banks, eight of the 10 top asset managers, insurers looking for this type of information. now what i think happens is the private sector does what it does best. major pension funds, insurance, there are all looking for the step of information. what i think happens next is the private sector does what it does best. companies are starting to disclose. they throw away the stuff that is not useful and the focus on what is material to decision making and then you get better and better disclosure, better and better c

is up yet again in line with the weakness we've seen in the currency today all focus will be on carney's testimony in front of the treasury select committee. him and other mpc members, lots of talk about his future at the bank of england, and whether or not his tenure will be extended. >>> other indices, xetra dax, cac 40 trading around the flat slightly weaker as far as the french are concerned ftse mib is up 1% in line with the bond yield moves that is on back of the finance minister's comments saying he is hoping to get a budget that will stick with that 2% deficit target for next year let's see how that pans out. switching to sectors, leadership is coming from the banking sector, up 0.6%. lots of stories there. danske bank, ing, we'll get into them utilities up 0.4%. ryanair posting good passenger numbers for august to the down side basic resources, telecoms down 0.6%. iliad announced it had lost some subscribers. and media is the most underperforming sector, about 0.7% >> one reason for that is wpp shares plummeted to the bottom of the stoxx 600 after the company cut its profit marg

mark carney, the governor of the bank of england, there.the most disastrous computer upgrades in british banking history, paul pester, is leaving tsb. the failed upgrade in april affected up to 2 million online banking customers. the bank is still struggling with its it systems. mr pester will receive a payout of around £1.7 million. britain's third largest union, the gmb, has called for a referendum on the outcome of the brexit negotiations, saying that "false promises" had been made during the 2016 eu referendum campaign. general secretary tim roache urged labour to adopt the same policy, but he said the vote should be on the terms of exit, not on whether brexit would actually happen. the metropolitan police has confirmed it's investigating the 99th murder in london this year, after a man was found dead in a cemetery in tottenham yesterday. today, in a separate case, five teenagers were found guilty of stabbing to death a father of four injanuary this year in another part of north london. our home affairs correspondent tom symonds reports

the bank of england governor mark carney says it's his job "not to hope for the best but to prepare forsted the country's banks for a no—deal brexit scenario with mortgage rates spiralling, a plunging pound and house prices crashing 35%. british steel has announced that it will cut 400 managerial, professional and administrative roles across its uk, ireland, france and the netherlands operations "as part of the company's ongoing transformation". sports direct boss mike ashley says the company and he have been stabbed in the back by its shareholders. at the company's annual shareholders' meeting mr ashley's re—election as chief executive weas opposed by 9.75% of votes cast, and chairman keith hellawell stepped down just ahead of the meeting. mr ashley, who still owns 61% of the company's shares, said in a statement: "the company's shareholders appear to be affected by the pressure of the media and certain other organisations, and they have failed to support sports direct, keith and myself, on this journey." joining us now is george macdonald, executive editor of retail week. has he been

the carney era may run longer at the bank of england. the jobs report gives more fodder for september. >> this suggests the fed's on the right course in terms of tightening. >> the data is unmistakable. we are growing, boom-like, across the board. julie: plus, an exclusive conversation with jack ma about what comes after alibaba. jack: i think some day, and very soon, i will go back to teach. julie: it is all straight ahead on "bloomberg best." ♪ julie: hello and welcome. i'm julie hyman. this is "bloomberg's best," your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let's start with a day-by-day look at the top headlines. markets were closed in the u.s. on monday, but meanwhile, troubles in emerging markets showed signs of becoming a full-blown crisis. >> argentina took action today amid its fiscal crisis. president mauricio macri said he would impose taxes on exporters to boost much-needed revenue after the peso changed. >> the key thing here is that government of

mark carney refuses to rule out staying in his post until 2024 a second extension. i'm matt miller in berlin here for francine lacqua. let's check in with the markets. after the emerging markets rout my gmmes, take a look at screen. first off on the equity index you can see asia's equity index falling 4.5% there. the lois, hong kong down 2.5%. singapore down 1.5%. are seeing emergency market indexes getting absolutely thrashed and clearly not for the first session in a row. hong kong approaching 10% year to date. through this is coming in currencies. you can see in the middle of the screen, the indian rupee down again and all of the other emerging-market currencies taking a hit over the last few weeks. but you haveback to look far and wide to find them. in commodities, copper gaining a little bit but brent crude down. nymex is down back below $70. crude is a space to watch and then sovereign bonds, all down the column. these black boxes signify the asset has moved more than three standard deviations away from its 90 day score. it's been a tough day for sovereign bon

it is the second time mark carney has agreed to extend the term he is serving.ade the announcement.” let‘s hearfrom philip hammond when he made the announcement. i have been discussing, with the governor, his ability to serve a little longer in post to ensure continuity to what could be quite a turbulent period for our economy in the early summer of 2019. i can tell the house that the governor has agreed, despite various personal pressures to conclude his term injune, but he will continue until the end of january 2020 in order to help support continuity in our economy during this period. let's go to norman smith who is in westminster. philip hammond saying it is about ensuring continuity through what could be a difficult time, what does it say about the government‘s concerns about that time? it underlines the fact philip hammond is concerned about the difficulties the economy may face after brexit and his desire to have continuity and his desire to have continuity and stability in the bank of england. i can guarantee they will not be hanging out the bunting in b

the first carney most of them in the door as grand the moment arrives. join your regular turn on her journey back to freedom. you know work interactive documentary stories in the running returns home on the d w dot com a ring of tanks. mean. that. there are. many. cases. sure is mentioned that you think that. she got bit by his and i mean she can. be armed kind of in the mist and sense of. it comes to. the vest as we've been doing some in the house. and they stay a minute jane and say it's a game like shirton zisha only in the frog and the five on bad boy that your mom's in the chairmanship sure. dish your. children. fish to. fry them five knots of sadness. and bone and ghosts i. believe after these certain. facts it's nothing new and best shots and as far as shit i'm struck. him knowing that shane can attach to a honda three it's on snow off the mower was inside. clements neat package i watch only. during the shoot if you're doing. a film during. the. fight and some. mission the sun. shines out of it is still the fraternization little. dish it. couldn't

mark carney has in the past been criticised by pro—brexit mps for taking, in their view, too pessimisticm the eu. the governor had been due to step down injune. the security minister ben wallace has told mps about his incredible frustration at being unable to prosecute some suspected terrorists. he said he needed to strengthen the law to tackle the threat from so—called foreign fighters who travel to locations such as is strongholds. his solution is to make it illegal for uk nationals to enter or remain in so—called designated areas overseas, areas that would be determined by the home secretary. those who break the law could face up to ten years injail. we already have quite a lot of offences with extraterritorial jurisdiction and clause five of this bill is adding to them, so many of us are concerned about the necessity and proportionality of this amendment, so what can he do to convince us that it is necessary and proportionate, given the plethora of extraterritorial offences that already exist? well, i think the first thing i would say is that we have 400 people in this country who ha

now you know mark carney who were veterans from those banks. so we actually have career civil servants manning the regulatory positions we're never going to have a situation where there is going to be too cozy relationship between the financial services sector and the regulatory. thank you well now to go through some of the week's papers is the u.k. prime minister trades amaze old home of his colleague norman baker who's david cameron as a minister of state building thanks for coming back on we're going to go to lehman brothers in a second but obviously with two more liberal democrat all of them conference i got to ask you as a house member to the other week will you be becoming the next leader of the democrats and sits with lloyd george and with him to had since that action when liechtenstein wouldn't so well cock up us all forward and also the prime minister your old colleague at the home office was we going to be covering it later in the show said parliamentarians should not be appearing on this channel because you risk becoming a propaganda

the top stories hear it out there the taliban in afghanistan and else the death of commander gen carney he founded the work responsible for decades of suicide bomb attacks and hostage taking his death has been reported several times before he was thought to be in his eighty's and has been bedridden two hundred kilometer an hour winds are expected in japan from the strongest typhoon there for more than twenty years. already calls the cancellation of flights and train services and evacuation orders for homeowners floods and landslides warnings have also been. argentina's introducing a series of austerity measures to stem its currency crisis the country's currency the past so has lost more than half its value against the dollar this year president. the size of his government almost a half and says cut public spending. now monday was labor day holiday in the united states and it marks a new gearing up phase in the lead up to midterm elections a record number of women are running for political office a majority of them against president republican party now if the democratic party. control o

theink that's one of reasons they reappointed and carney.e's basically the sign of stability there. that when the election happened and they turned the referendum, they turned brexit down. asked a number of tv shows what i thought would happen. keep marklong as they carney, he will be the instrument and stability. toss up now a whether they'll meet that date or not. the government divided as it is europeans really want to get some agreement here, it parties.h making paralysis how central bank might have their tied. they may not be able to react to policy. us., stick around for coming up next we'll take a look at lehman. we'll ask how well the world is the next financial crises. ♪ >> banks today are safer than they were then. they're not safe. what we need to do is to put in place a system in which banks provide the security to ae central bank in advance of crisis. >> we don't have a european team can will be an important element banking unit. >> when banks are selling half book value or less, that is telling you something about the underlyin