carney's doomsday warning.e outlined a dire scenario for the economy if written crashes out of the eu -- britain crashes out of the eu. trade watch. president trump arrived today for the g20 summit. i over dinner on saturday. we are live from one osiris -- aires. ♪ manus: a warm welcome to "bloomberg daybreak: europe." how long will this theoretical -- possibly left? the dog -- last? this is the dollar index. we have dropped by nearly half a percent wednesday and we are adding to that. is it that the fx traders smell the top? that is what deutsche bank is saying. they say that data dependence was -- that lipservice was paid to in the u.s. in the fed. now it is coming alive. deutsche bank saying we have approached the top. you have the dollar, indonesian repeat. a weaker dock -- indonesian rupiah. a weaker dollar and you see the strength in the rupiah. all of these emerging-market currencies are flickering around but indonesian rupiah is the vanguard this morning and the rupiah is looking -- morning. nejra: thos

carney started talking about 15% below the pre-referendum peaks. that mark carney would like to have starting? obviously he will not say it, but there must be speculation. charlotte: what i was hearing from strategist today was that carney did exactly the right thing and exactly what he would have wanted to do in spiking that slightly more hawkish tone in order to support that brexit process. bank of england itself will not give us as specific level. i will not attempt to do the same, but i do think that, you know, that hawkish tone is an attempt to keep sterling supported. it is a squeezy market with all kinds of rumors flying. it is a hard judgment to make on what is going on here, and i except you do not want to go near that one. charlotte, thank you very much indeed. charlotte ryan, joining us on the latest out of the u.k.. vonnie? vonnie: let's check in on the first word news with courtney. >> president trump has spoken with chinese president xi jinping. a meeting plan was discussed against the two leers at the upcoming g20 summit. officials a

carney's doomsday warning.ario for the economy if britain crashes out of the eu without a deal. next up is the ecb's financial stability review out of frankfurt. trade watch. president trump arrives at the g20 summit at of his meeting with xi on saturday. good morning and welcome to bloomberg markets. this is the european open. i'm matt miller in berlin. let's look at where we are on individual stocks movers. the ams stock is up by 7.4%. technology is a flavor running through this. britvic is also up. seeing cash flow materially higher. basic resources doing quite well. let's go to the downside and see what moving there. do have some effects. some of the property and land real estate-based companies are there. we do see british land moving lower. land security moving lower. hammerson moving lower. daily mail just -- daily mail down by just under 10%. estate flavor to what is going on at the downside. we got a real disappointment out switzerland with their gdp contracting 0.2%. we were looking for growth of 0.4%

the bank of england governor mark carney is front and center in the times.d see the worst economic slump since the 1930‘s. some good news for the prime minister. the daily mail reveal the key cabinet brexiteer andrea leadsom says she is backing the prime ministers deal. and the attack on a syrian school boy in huddersfield leads the front of the metro after a video of his bullying by another pupil went viral. isa is a bit ridiculous market today, being clear about scenarios are market today, being clear about scenarios are not market today, being clear about scenarios are not being clear. talking about a worse case scenario coming out without a deal. it is scary stuff, the pound will crash, inflation going up, house prices will fall and we will all be more poon will fall and we will all be more poor. interest rates will soar. what people, including rees mogg ‘s and other brexiteers are saying this is project hysteria, trying to drum up fear and weight to the remain side. the fact is, it he is the bank of england governor and is saying that if we come out wit

carney mentions.ning within this 1.28 range, what we saw last week with prime minister may's government threatened, higher is a big deal. francine: it is a big deal. let's get to taylor riggs. taylor: bank of england governor mark carney is weighing in on brexit today, being questioned in parliament. the central bank has been asked to assess any agreement or agreement with the sterling.aker 16 house democrats have come out against nancy pelosi's bid to be speaker of the house. they say it is time for new leadership. no challenger to pelosi has come forward. democrats will vote on speaker candidates next week. airlines around the world will be able to question going today boeing today about its 737 max jet. the two deadly wildfires in california could cost insurers up to $13 billion. those estimates include damages to property and cars and business disruption. the fire in california killed at least 79 people and destroyed thousands of homes. global news 24 hours a day, on air and @tictoc on twitter, po

you have to feel sorry for mark carney. on thehey have a deal banks having access to the market in europe. alix: we will get a deal, but be in a deal, basically? david: you behave yourself. alix: it makes sense. in the markets, you can look at the clarity when it comes to cable rates. moving higher into that boe meeting this morning. up .8%. we are seeing some profit taking on the dollar. s&p futures up 13 points. mutual funds, pension funds, or they having to rebalance for tax reasons. do we see a steady rise over the next few months? 3.16 on the 10 year. crude off .7%. potentiallyit out, korea and iran will get waivers. david: with some strings attached. it goes into an escrow account. at least that is the report, that maybe it won't be as dismal. alix: and you have an oil price shock. time now for the morning brief. 8:00, the boe rate decision and inflation report followed by mark carney's news conference at 8:30 on bloomberg television. also, last week's jobless claims for the u.s. 9:00 come automobile companies will an

the bank of england governor mark carney is front and centre in the times — he said a no—deal brexitter — the daily mail reveal the key cabinet brexiteer andrea leadsom says she is backing the prime ministers deal. and... the attack on a syrian school boy in huddersfield leads the front of the metro after a video of his bullying by another pupil went viral. one story tending to stay prominent. take us to the main headline. well, this is the bank of england morning of the worst economic slump since the second world war. today really has been a day of which forecast is worse? first of all we have the treasury talking about the 15 year period and what would happen to the uk economy in the event of no deal oi’ uk economy in the event of no deal oran uk economy in the event of no deal or an event of theresa may‘s deal. reply 9% worse off than 10% off. then pops mark carney at the end of the day to send you off on your merry way saying well actually in the case of no deal it‘s going to be armageddon and will be house prices crashing and death by 30%. inflation going up and the economy coul

bank of england mark carney appears in the u.k.liament later today with brexit likely to dominate lawmakers questions. nissan and mitsubishi motors shares have fallen after the u.s. is pursuing allegations. leader under the reported income and is set to be removed by the board. it committee will look into the structure of nissan's alliance with renault and mitsubishi. i would have all of the necessary discussions with the people that are in charge and we will make decisions as soon as possible to ensure stability and long-term vision for both renault and nissan. >> confidence among u.s. homebuilders has plummeted are the most since 2014. the national association of home to 60, theopped lowest level since august, 2016. with thehas to do cooling housing market. global news 24 hours a day on air and on tictoc on twitter powered by more than 2700 journalists and analysts in over 120 countries. anna: thank you very much. let us turn to our exclusive interview. i spoke with jeremy corbyn about his view regarding the current brexit deal a

so you could argue actually mark carney has done a very good job so mark carney has done a very goodue that. and what we are looking for now is any hint for what might happen in the future. absolutely, we certainly all are looking for that. rebecca is back for the news briefing, and that is our top story on the news at, the treasury to publish its economic impact analysis. we will be right across this today as it is released. stay with us on bbc news. still to come: we will have the latest on european championship matches, and the rest of the sports news. president kennedy was shot down and died almost immediately. the murder ofjohn kennedy is a disaster for the whole free world. he caught the imagination of the world. the first of a new generation of leaders. margaret thatcher is resigning as leader of the conservative party and prime minister. before leaving number 10 to see the queen, she told her cabinet, "it's a funny old world." angela merkel is germany's first woman chancellor, easily securing the majority she needed. attempts to fly a hot air balloon had to be abandoned after

we will be here for mark carney shortly as well.of that is interesting in and of itself. let's talk about the stocks we will be watching. tenaris is trading down quite sharply. unicredit raising money today. the stock rising 2.2% today. we are feeling and affect coming through from the assessment that the government has laid out, vis-a-vis the brexit divorce scenario that we are looking at this point in time -- looking at at this point in time. it could be worse if there is a no deal brexit. a quick look at what the volumes look like. a pickup we have seen with volume coming back to normal. we are a little light. the market getting more neutral as we head into some of the key, risky events over the next few days. vonnie: the dow is a little bit stronger ahead of the g20. up foril industries were an intends week -- intense week. downto 10 spread is back to 22 .5 basis points. -- 22.5 basis points. and then, keeping an eye on the women be -- keeping an eye on the reminbi. in when it's iris, some of the domestic asset classes. japan is

mark carney says it could trigger a worse recession than after the financial crisis ten years ago.to highlight that these were just scenarios but that they had considered multiple outcomes including that of a no deal. let's hear more of that analysis which he gave at the bank of england this afternoon. taken together the scenarios highlight the impact of brexit will depend on the direction and magnitude and speed of the effect of reduced openness on the eu uk economy. the direction of the effects of the reduction of the openness is clear. lower supply capacity, weaker demand, a lower exchange rate and higher inflation. the magnitude of these economic impacts is modelled using established empirical relationships and is disciplined by the banks sweeter economic to ensure the coherence of plausibility. —— macroeconomics. the speed of adjustment is less clear. given the lack of precedence of reduced openness, particularly amongst the economy. the worst—case scenario assumed that adjustment and the integration happens more rapidly thanit integration happens more rapidly than it has over

carney starts talking in a few minutes time now on the other side of the atlantic, ivanka trump used her personal e-mail for government business according to the "washington post." the newspaper reports that the senior adviser and daughter of president trump sent hundreds of e-mails last year to white house aides, cabinet officials and her own assistants using a personal e-mail account the newspaper added when questioned about this by aides mrs. trump said she was unaware of some of the rules a spokesperson said ivanka trump sometimes used his personal account but none of the e-mails conta contained classified information. >>> 16 democrats published a letter overnight referring to nancy pelosi as a historic figure but calling for new leadership tracie potts is joining us now from washington. this seems like a moment of success for house members from the democratic side, yet here they are with infighting kicking off quite early on before they have taken their seats >> it's not a big surprise we heard that there would be a challenge if not more than one challenge to nancy pelosi. the 1

governor mark carney, said it is possible that a cliff—edge brexit could have similarities to the oilcks of the 19705 when prices soared. technology news website wired looks at how thousands of google employees and contractors joined a worldwide walkout to protest google's handling of sexual harassment claims and other workplace issues such as equal pay. are and finally in the independent, the genetic codes of every animal, plant and fungus in the uk will be sequenced in a massive new project scientists say will benefit everything from conservation to medicine. called the darwin tree of life project, the initiative is part of a massive global effort to unravel the dna of all life on earth what a noble mission. with me is henry bonsu, who's a journalist and broadcaster. let's start with a different kind of mission. president donald trump, a man on a mission. an extraordinary thing, some of the comments coming out of the us in the last 2a hours. he faces the possibility that republicans will lose the control of congress on tuesday and a late return to his most enduring strategy of his p

bank of england governor mark carney gave his backing on tuesday terry bradshaw the deal struck by british prime minister theresa may and european union officials it would help smooth the country's departure from the block mr carney said lawmakers in the. heads over prime minister may's draft agreement with or without of the old the date of separation is drawing closer and. how that will impact the. coventry in the heart of england home to students and researchers from across the european union many of them originally came to the u.k. through the e.u. a rasmussen program but with briggs it looming exchange programs like these could be a thing of the past for british students the country's future outside the e.u. has also been the subject of heated debate here in berlin where many young brits had their first taste of studying abroad. i think the u.k. or at least. employees in the u.k. want to employ more local people now or at least see it as something that's going to be easier and more practical for them so i think that is something about that could definitely affect foreigners brits livin

this is on the back of what governor carney was saying. he gave some pretty dire predictions on the impact of brexit on the economy if it were to crash out or we were to have no deal. you can see crude below $50 as opec prepares to meet next week. coming up, we speak exclusively to the chief executive of russia's vtv bank. that exclusive interview a 9:30 a.m. u.k. time. we will talk russia, ukraine, and a little bit about the bank. let's get straight to bloomberg first word news. commentsget to those from the bank of england. governor mark carney says the boe is prepared for the worst possible brexit. and that the u.k. faces the steepest economic slump since world war ii if it crashes out of the european union without a deal. u.k. government and central-bank have warned that the economy could be 11% smaller under brexit compared with remaining in the eu. under the banks projections, the decline would be much more rapid, with gdp shrinking up to 8% in a year and property prices plunging a third under a worst case scenario. bank gettingr, th

according to mark carney, leaving the eu without a deal would send the pound crashing, and spark a worseession than the financial crisis. the projection is very much a worst case scenario. but it will be seized by the prime minister's supporters. theresa may is struggling to convince mps to back her compromise deal with brussels. our business editor simonjack reports. enter brexit centrestage. a man with a warning. leaving the eu without a deal could trigger an economic crash worse than the one that followed the financial crisis. we've constructed a sort of worst—case no deal, no transition brexit scenario, where you have a series of events including friction at the border, difficulties at ports, sharp falls in financial markets would costs more for people and businesses to borrow, a series of events that all happen at the same time. now, this is not a prediction orforecast, merely a possibility. in the bank's worst—case scenario, gdp is down 8% in one year, house prices down 30%, unemployment almost doubles to 7.5% and prices rise by 6.5%. it's in these marbled halls that bank of englan

emily: what did you think of jay carney's response to that? as a company this big that is creating this many jobs, shouldn't they be getting these tax breaks and if the data is available to all, couldn't it be useful? barry: -- point is right that amazon was in secret negotiations with economic development authorities said it has a good sense of what those cities and states are willing to offer. this is a company that had 600,000 plus employees. it operates warehouses and data centers and other facilities in just about every state in the u.s. and around the world, and so it needs to have information to figure out what are the best places to put our growing demand for warehouses and white-collar offices and data centers and places like that. carney is right, but also that doesn't tell you the whole story about what amazon got out of this process. emily: barry, amazon had said this process was going to take two decades. two decades from now, how do you think this will change arlington, virginia and long island city? barry: i think the issue is h

what mark carney said yesterday was times have changed.apacity and this supply shock would be real rather than something that would be threatened over the next couple of years. i think he wants to make sure assuming the bank of england would cut rates. suggests theart markets are not at their height until 2019. so much depends on the brexit outcome. -- get a dealid and the deal get through deal andt, or we get a the deal does not get through parliament, in which case we are looking at extreme uncertainty. we don't know what comes next if we do crash out of the eu without a deal. the assumption is there would be a supply-side shock interruption to trade, interruption to supply chain, but there would also be a big demand supply shock. what mark carney was saying is they would have to look at the balance. is the hit to demand going to be greater than the hit to supply? don't assume a rate cut is inevitable. couldthe possibility it move in either direction. what is your base case when it comes to brexit? >> i think we have been through a lot o

do you look at what mark carney says?mark carney has a tough job of trying to navigate this. having to say what things we expect to happen and how to react. the equity market is specifically difficult. ftse 100 companies, it'd percent of their revenue comes from outside the u.k., so a weaker pound is generally better for those companies. so they got come on the equity market is pretty hard to determine -- the outcome on the equity market is pretty hard to determine. outcome, we get uncertainty and then you will see further weakness in the sterling. of course, the opposite could apply. they could go through, and advancing the markets price to that in either. it is a hard thing for us to take a view on as this is a political outcome that i am much are we have any insight on, not sure anyone does? andrew: does this and gender contagion across other markets in this crash is ours, or is it self-contained? andrew: i think it is self-contained. a pretty idiosyncratic situation to the u.k.. what does it mean for trading relations

alix: mark carney in the hot seat. , but mark carney have to face brexit uncertainty.bruary. earnings on deck. global markets pommel credit dragged down by a weaker activity and challenging conditions. david: welcome to "bloomberg daybreak." you have to feel sorry for mark carney. on thehey have a deal banks having access to the market in europe. alix: we will get a deal, but be in a deal, basically? david: you behave yourself. alix: it makes sense. in the markets, you can look at the clarity when it comes to

emily: that was amazon's senior vice president jay carney.ow to talk more about amazon's decision to split its second headquarters in two between new york and virginia, i want to bring in open markets institute executive director barry lynn who joins us from washington. us, from new york, with bloomberg opinion's shira ovide. now that the suspense is over, who do you think the real winners are here? shira: i think amazon is the big winner. they have made the selection process highly public, so it has generated a year of free publicity, both nationally and in each of the cities that was vying for the location of hq2, places like birmingham and calgary, alberta and places like that. so i think amazon is probably the biggest winner. emily: barry, i know you are a skeptic about this, but do you think amazon took advantage of cities in this process? barry: absolutely. there's no doubt about it. as we were just talking about, amazon got an immense amount of data from cities all across the country. and it is not just publicly available data. it is d

guy: thank you very much indeed, emily chang with jay carney. oil extends its losing streak as opec flashes its global demand. we will dig into the details next. this is bloomberg. ♪ vonnie: from new york, i'm vonnie quinn. the european close on bloomberg markets. vonnie: oil extending its losing streak. and theyiea are out don't see eye to eye. was said about it earlier on bloomberg. >> 70 to 80? >> when you look at it coming from 40 to 140, we are narrowing it down, so 70 to 80 is the right price. supply.ed more the $100 a barrel. we have to that because it's not good for the consumers. it is not good for the producer. everything is stable, there is no geopolitical playing in price, iion of the think the price will stabilize. what should prevail is the correct balance between supply and demand reflected on the price. vonnie: we are joined by the bloomberg managing editor for energy and commodities in the in america's. -- americas. why is the crude oil market looking at this as a bearish note? u.s. wrench the mark price can't find a foothold. i

will be with chinese premier they could chang in beijing that's carney who last month sounded like he was coming round to norms of debate in red and tiananmen square as is there a correlation between management and informs that think about structural issues like climate like the impact of artificial intelligence like demographics. it's emergence of china that is the. long term also there will be i.m.f. empty christine legarde convicted of negligence in a paris court and here arguably taking china's side on the trumped trade war escalation of clarence page tensions could reduce global g.d.p. . percent over the next two years to bretton woods good call up to the i.m.f. about gaap jim yong kim of the world bank will also be in beijing here he is arguably sounding like a member of the chinese communist party they lifted five hundred million people out of poverty over the last thirty years unprecedented in world history and they know that huge portion of that was just because of their growth but now all not only are they focusing on the quality of growth you know switching the strategy fro

economic data and the bank of england's mark carney will be speaking.his is "bloomberg real yield." ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." time for the final spread. coming up over the next week, we might get some drama surrounding brexit. the bank of england's mark carney will be speaking, and we get information on the u.s. housing and durable goods. the european commission publishing its opinions on euros on budgets, including italy, so look out for that. we have the u.s. markets closed on thursday for the thanksgiving holiday. with me for a final discussion is gershon distenfeld, kathleen gaffney and james athey. gershon, on the trade story we have been whipsawed the whole weak, from trade headline to trade headline. if we get a truce at the end of this month, it will help market sentiment. does it address economic issues we see and experience globally right now? gershon: it is impossible to say. we cannot predict what this president is going to do. i am talking about our president in the u.s.. he is more unpredictable than

amazon's senior vice president jay carney. to talk more about the decision to split its headquarters, i want to bring in the open market institute executive director andy lynn from washington our bloomberg correspondent. who do you think the real winners are here? >> i think amazon is the big winner. they have made the selection process highly public, so it has generated a year of. publicity. in each of the cities that was vying for the location, places like birmingham, calgary, alberta. think amazon is the biggest winner. emily: i know you are a skeptic about this, but do you think amazon took advantage of cities in this process? >> absolutely, no doubt about it. aboute just talking amazon stuff this immense amount of data from cities across the country. and it is not this publicly available data, it is data about what kind of deals, tax deals, tax breaks, subsidies will these administrations put forth to lure in investment. a lot of this information was entirely secret, available to no other company. is, as just mentioned, a

or first carney was. a minute or as grand a moment arrives. join your regular turn on her journey back to freedom. in our interactive documentary during the regular time returns home to move on to w don't come to tanks. come. less. money. money. so. that it. comes. to. money. this is. this stick. made. me think that. sudeep. vent month basis. is easy funds. just to show. my. dulcimer submitted i called my. now from. zack to manly. and i don't good. and i'm done. then me man. that's months yes. that's months said just a matter. i'm. sure . i'm still guest of that. tissue of. the various because i. don't buy. into this. to. the gun to stay shelf little. knick leash. on vandalize pads soonish come. dancing. mitts near. dimension. no i. think mission in. vice. then month. to. month. violence if it bit. they got. a guy but i know him said he could listen by. most good luck sign. of a so that. that's a good. this time for one more day. a month. that's months off his. advice is only. shallowly. month. by month. does either. one. believe me. a muslim

will be with chinese premier league pitching in beijing that's carney who last month sounded like he was coming round to norms of debate in red and tiananmen square as is there a correlation between managements and firms that think about structural issues like climate like the impact of artificial intelligence like demographics like emergence of china is there a correlation between that and a long term also there will be i.m.f. empty christine legarde convicted of negligence in a paris court and here arguably taking china's side on the trumped trade war it's going to have current tensions could produce good. man percent over the next two years than the bretton woods good call up to the i.m.f. so bad cop jim yong kim of the world bank will also be in beijing here he is arguably sounding like a member of the chinese communist party they lifted five hundred million people out of poverty over the last thirty years unprecedented in world history and they know that huge portion of that was just because of their growth but now not only are they focusing on the quality of growth you know swi

when the headlines fade, governor mark carney will be in the hot seat. jason: this is part of the special issue on the year ahead, were we focus on the leaders and the most urgent topics in the coming year. carol: this is "bloomberg businessweek." ♪ carol: welcome back to "bloomberg businessweek." join us for bloomberg businessweek every day on the radio at 2 p.m.-5 p.m. wall street time. carol: you can also find us online and on the mobile app. ahead, global growth should be strong in 2019. but it may be imbalanced. jason: rising tariffs in the united states could make for trouble. i caught up with peter for our special year ahead issue. peter: there are so many things to worry about, with the stock ons.et and trade tensi even the public tends to worry, what is going to happen next? if you look at the performance accordingbal economy, to the imf, it's been remarkably steady. we had 3.7 percent growth in 2017 and we will keep the same number in 2018. we will keep the same number in 2019, for good, solid, steady growth. ason: one of the reasons people wor

i love this quote from mark carney.. there is a danger caught in about £50 note. is that by your mum is attracted to them? every now and then, there is a £50 note and nobody knows what to do with it.|j then, there is a £50 note and nobody knows what to do with it. i love how it'5 knows what to do with it. i love how it's a scientist, and mathematician celebrating. ada lovelace and alan turing. franklin never got her nobel prize. you need to vote, then. you've got six weeks. it's been a pleasure. that's it for the papers tonight. don't forget, you can see the front pages of the papers online on the bbc news website. it's all there for you, 7 days a week at bbc.co.uk/papers. and if you miss the programme any evening, you can watch it later on bbc iplayer. thank you, michael and rachel. goodbye. good evening. here's your latest sports news. leicester city's players have said they're adamant they wanted to play their premier league game against cardiff on tomorrow to honour the memory of their club owner and those who died

will be with chinese premier they could chang in beijing that's carney who last month sounded like he was coming round to norms of debate in red and tiananmen square as is there a correlation between between management and firms that think about structural issues like climate like the impact of artificial intelligence like demographics like emergence of china or is there a correlation between that and create long term value also there will be i.m.f. m.d. christine legarde convicted of negligence in a paris court and here arguably taking china's side on the trump trade war this kind of current tensions could reduce crime. then percent over the next two years than the bretton woods good call up to the i.m.f. so bad call jim yong kim of the world bank will also be in beijing here he is arguably sounding like a member of the chinese communist by.

the bank of england chief mark carney broadly backed theresa may‘s brexit plan earlier today, so a bit which is interesting. —— easyjet. that‘s all the business news. one of central america‘s most active volcanos has erupted for the fifth time this year. guatemala‘s fuego volcano, which is near the capital, is spewing out ash and lava, forcing the evacaution of thousands living nearby. the latest flare—up is reminiscent of a deadly eruption injune which killed almost 200 people. georgina smyth has more. molten lava against a night sky. this is guatemala‘s volcan de fuego, or volcano of fire. it‘s living up to its name, currently spewing out fast moving flows of ash, lava and gas. by day, a towering column of smoke can be seen, rising more than a kilometre into a grey sky, officials have declared a red alert. nearly a,000 people have been evacuated from a nearby town, which is close to the country‘s capital. half of those taken to safety were living within a ten kilometre radius of the volcano. a local football stadium is serving as a temporary shelterfor residents. translation: it star

the governor mark carney says interest rates would rise, and the pound would crash.arning comes as the government publishes its own economic analysis, suggesting britain will be poorer under all brexit scenarios, than if it remained in the european union. we'll have the latest from westminster in a moment, but first here's our economics correspondent andy verity. a resolute mood from the bank of england's top officials today, determined to issue a stark warning to the public and parliament. that a cliff edge no—deal brexit would mean an economy that would be much less open and much more vulnerable. the direction of the effects of a reduction in openness is clear. lower supply capacity, we could demand a lower exchange rate, and higher inflation. here is the analysis of what could happen under different scenarios rather than what will happen. we would continue to grow. if we take something like the deal on offer from the government we would grow, but by less, but if we crash out without a deal it says the economy could shrink by 8% in a year. in this worst case scenar

may have pulled out of the paris climate accord but european commission climate chief miguel arias carney today said the bloc must lead by example at the climate talks in poland next week europe will be their was first major economy to go for let's just put their feet we we must acknowledge something which is that you don't already because there was more of this just great i think clearly the british and within you it was and i know your visit it got a guess we would get an issue of by forty five percent or it could be that the e.u. has now published its strategy setting out eight pathways to reducing emissions to which chart a course for europe becoming climate neutral by absorbing as much greenhouse gas as it emits tanita says the strategy would also improve e.u. citizens quality of life by improving the issues of transportation and air pollution. in india's capital delhi kids living on the street are an every day side many sell plastic toys bottled water t. shirts to support themselves as good as they can most carry the little money they make with them at all times making them easy pre

and remember, carney has been criticized in parliament.illing to risk a notrderly brexit, they are wanted to hear mark carney's warning today. maybe if you are an investor, you have to prepare for the worst, too. haidi: kathleen hays for us in new york. breaking news crossing the bloomberg. a consultancy hired has been cleared of anti-american charges. they rejected the claim that the consulting services discriminated against american instead of staffing with indians on south asians. the verdict is a major victory, and the entire business model depends on exporting engineers to the u.s. the case does predate the andtion of president trump reducing the use of overseas workers. we will continue to watch that case is details become available. still more to come on daybreak asia. this is bloomberg. ♪ ♪ ramy: this is daybreak asia. iranian -- i'm ramy inocencio in new york. haidi: the dollar tumbled after fed chairman jay powell said interest rates are just below neutral now. our next guest says the dollar will depreciate until the middle of ne

mark carney says it will help smooth the country's departure from the bloc but as the future of the deal is still uncertain young experts are assessing how the looming brics it will impact. coventry in the heart of england home to students and researchers from across the european union many of them originally came to the u.k. through the e.u.'s a rasmussen program but with brags that looming exchange programs like these could be a thing of the past for british students the country's future outside the e.u. has also been the subject of heated debate here in berlin where many young brits had their first taste of studying abroad. africa u.k. or at least. employees of the u.k. want to employ more local people now or at least see it as something that's going to be easier and more practical for them so i think that is something about that could definitely affect foreigners brits living in the e.u. are concerned about how freely they'll be able to move once britain leaves the european union. also just in terms of the friction of like moving from one place to another you know i don't know now bu

that is the governor of the bank of england, mark carney, with his brexit assessment, the one that hes. as he was explaining, scenarios, not forecasts for what could happen in various different brexit settings. lots to chew over, we had a government assessments earlier today, i'm we had a government assessments earliertoday, i'mjoined by we had a government assessments earlier today, i'm joined by our economics correspondent andrew walker to pick his way through all of this. let's concentrate on what the banks say first. this is a report with a lot of things in it but we have selected one or two to give some sort of labour. first of all, let's look at the scenario that the bank describes as an economic partnership, various degrees of close as one might have in terms of keeping the barriers to trade load and this is the range that the bank has coming before the possible impact on the british economy, compared with where it would be, in 2024, compared with where it would be, in 202a, if compared with where it would be, in 2024, if it stayed on the part that was on before the referendum

bank governor mark carney, what kind of predicaments he find himself in?ina: there is no playbook for the situation that the bank of england faces next year. we saw a bit of a preview after the referendum, the international reaction. there was a drop in the pound. a small market panic initially. so if there is not a deal that specifies some sort of transition, i think, by the time the march 2019 deadline rolls around, i think that the bank of england will be a sort of first responder in any crisis that happens then. so it will have to -- carol: so the economy starts to wobble in the u.k., he made have to cut rates or something? cristina: it will be difficult, because he will need to raise rates if -- he will raise rates if he needs to shore up the pound. he will have to take different tools to stimulate the economy. while, at the same time, shoring up the pound. it is going to be a difficult test. on the other hand, if there is a deal and things go smoothly, then he may have to raise rates, because the economy may need to be -- inflation pressures may need

carney, the government of the bank of england backing the transition deal and arguing for an even longer one. main focusstill the today, selloffs continuing around the world, the europe fed getting away with it today. the u.s. markets have gone negative year today today. are comparinge apples with apples, the ftse is down 14% your to do -- your today. the dax in germany year to date in dollars is down 18%. europe has been here for a while, folks. the stoxx 600 is down by another 1% today, but it is faring better than what we are seeing in the united states and we are withg some weakness tomorrow being a big day for italy. bringing up deutsche bank, there it is, down by 3.7%, consistently worse a little bit earlier on. have a your market is entering negative tory terry, we have been here for ages. abigail: -- negative territory, we have been here for ages. hadail: at that point we the dow and the s&p 500 down on the year, now splurging to make it back. it's interesting that the tech nasdaq is outperforming the the main components like amazon, nvidia, reversing its lost where we have a dec