says this coming thursday in order to get any hint of that sort of thing it's possible that the e.c.b. will wait until the next meeting but people are very anxious about what is coming and that's an important topic for the market today but it also big changes that a diligent buzz image runs the france talking strange there where you are what can you tell us. that's right the new c.e.o. ted of i'm of who's been in the office and so january first is going to have his first public appearance at the microphone is all ready been seen at a reception here in frankfurt but he will perhaps not outline exactly what he will do it won't be a press conference a results conference but people will be looking at what exactly he's saying what needs to be done what could be done general. of coordination perhaps of exchanges around the world and people will be looking at the wording to see is he going for another mega for a merger like the one with london that failed last year and what type of a guy is he is he perhaps more politically savvy than cost and can get to his predecessor who also had an insider inv

a bubble forming in the bond market could cause turmoil with a bubble breaks at some point the e.c.b. will have to exit and then there will be trucked term all the time could be now in order to prevent more exaggerated more exulted of all in the future a lot of people believe that the time is now really balance in frankfurt thank you very much. donald trump has arrived it's davos to sell is america first agenda shall we say skeptical crowd of dyed in the wool multilateralist haven't already fired a volley of punitive tariffs and pressed his home already and stellar world leaders and business big shots unlikely to cotton on to the idea that isolationism made in the usa is good for the whole world economy. the big moment has arrived donald trump is in davos mr america first himself and what's mostly been an assembly of multilateral lists the elephants in the room have names like trade wars and punitive tariffs expressions that stand for the u.s. is in a word pivot in contrast to european appeals to look beyond borders but that's not a unified stance the british have a tight rope to walk they

says this coming thursday in order to get any hint of that sort of thing it's possible that the e.c.b. will wait until the next meeting but people are very anxious about what is coming and that's an important topic for the market today but it also big changes ahead of those who buzzwords runs the frankfurt stalking strange there where you are what can you tell us. that's right the new c.e.o. ted of imo has been in the office since the january first is going to have his first public appearance at the microphone is all ready been seen at a reception here in frankfurt but he will perhaps not outline exactly what he will do it won't be a press conference a results conference but people will be looking at what exactly he's saying what needs to be done what could be done the general. coordination perhaps of exchanges around the world and people will be looking at the wording to see is he going for another mega for a merger like the one with london that failed last year and what type of a guy is he is he perhaps more politically savvy than cost and can get to his predecessor who also had an inside

will we see a tweaking of the language soon? >> we have to take it for face value. he said the e.c.b. is not changing. it has a path and it will change its guide ands. he is not the most influnings person on the governing council. e want to hear from the press. the signs are this time around on january 25th, probably not going to get something. maybe there will be some mild cheeking of the language in march. >> he is in a little bit of trouble with the european union. >> this constitutes administration for me. he was following up on a complaint from basically a protest group in this field and came up with that after a year-long inquiry. it is not enforceable. the e.c.b. has until april to respond and says it will respond. it has appointmented out that tracking has always been to four of these 30 meetings. it's defense in the past has been that is fine, it has to coordinate. but it is a select group. it is heavily weighted for central bankers. ben bernanke and people like that are there. and senior banker as well. so the concern has been given these are behind closed door meetings and the e.c.b. has ove

e.c.b. steps up to the microphone this coming thursday and lots of people expect that there will be some change in the wording of the e.c.b. and of mario draghi after the meeting and people are expecting this change because of the protocol of the last meeting the minutes of the last meeting which indicated that the easy bit easy being members were anxious to change the wording to make it more clear to make it more clear that they wanted to communicate in a steady way in a careful way how to get out of quantitative easing that is bond buying and at some time also communicate rate rises in a more clear way in order to avoid turmoil in the market of course of mario draghi does too much too soon then there will be that term turmoil if he doesn't have the kind of transparency that people expect the not will disappoint markets to. the way the e.c.b. acts the way it buys bonds and the way it talks about interest rates that's a very central point here to everyone in the market that's a very thin line there for him to balance on but before all eyes are on moderate drug all eyes are on the new c.e.o. of

e.c.b. said it is not planning to hike rates anytime this year european companies are getting increasingly worried that their products will get more expensive abroad boss druggy remains unimpressed here's what the president of the european central bank has to say he said the recent volatility in exchange rates represents a source of uncertainty which requires monitoring and not much more since mid december the euro has gained six percent against the us dollar hitting one twenty five two today which is the highest level since the end of two thousand and fourteen that rally is based on investor expectations that the city plans higher interest rates soon but these to be remains unphased it has also left its stimulus programs in place there i asked our man at the frankfurt stock exchange how the market is reacting to these news. the market reacted first rather benignly it took it in its stride because one realized that the recent surge of the euro might be the right time to announce that the e.c.b. was even perhaps adding oil to the fire and saying that at some time rates would rise and the quantitative easing that is the bon

i think people are hoping that he will reiterate what he said earlier that he wants a strong dollar the market was up in arms in the e.c.b. at a loss of how to react on the remarks by stephen minutiae in the treasury secretary who indicated the weaker dollar was in u.s. interest no donald trump said that was misquoted he wants a stronger dollar and that took up the dollar and took down the euro and that's to the markets liking and i think there's a wish but probably not a very realistic expectation that donald trump dial back a little on the america first tune he's the cheerleader of has come from his country people know that they fear what he will be saying today on protectionism not helpful they fear away when you've got some front to thank you so much for this . believe it or not not everybody is looking to davos some. people rather watching a bowl rowing from left to right and right to lifts and of course what we're talking about football soccer as some call it that is because the bundesliga never turns to action tonight as i tracked frankfurt host bill rosia linton gladbach now both of these teams they find themselv

e.c.b. three hundred million people into the u.s. federal reserve went got a first mover advantage whether or not the u.s. central bank whether or not the european central bank will be able to buy shares in apple as swiss the swiss national bank has done swiss national bank owns millions of dollars worth of shares of apple by the way that's part of their portfolio so whether or not the u.s. government could do that without causing hyperinflation i don't think that they could do it like the swiss national bank has done and all of these mad markets whether it's kodak coin or the s. and p. five hundred already hitting near and estimates in the first eight days you know this could be the sort of spiral the vortex the craziness that you know these eight years ago or nine years ago was set in ten years ago back in two thousand and eight when they central bank started going insane is this is finally they're finally getting the inflation that they want but i don't know whether or not it will be out of control well you do have some pressure on the u.s. dollar or the reserve currency is trending down if you see that break ninety on the index you know they're going to have

e.c.b. three hundred million people into the u.s. federal reserve went got a first mover advantage whether or not the u.s. central bank whether or not the european central bank will be able to buy shares in apple as swiss the swiss national bank has done swiss national bank owns millions of dollars worth of shares of apple by the way that's part of their portfolio so whether or not the u.s. government could do that without causing hyperinflation i don't think that they could do it like the swiss national bank has done and all of these mad markets whether it's kodak coin or the s. and p. five hundred already hitting near and estimates in the first eight days you know this could be the sort of spiral the vortex the craziness that you know these eight years ago or nine years ago was set in ten years ago back in two thousand and eight when they central bank started going insane is this is finally they're finally getting the inflation that they want but i don't know whether or not it will be out of control well you do have some pressure on the u.s. dollar world reserve currency is trending down if we see that break ninety on the index you know they're going to have a

will take the lead short-term. yousef: we put up on the charts what is happening with saudi economic growth. the e.c.bhis is all the ay back to 2011. growth stories. as of 2017, you saw a bit of a contraction in the saudi economy. then we cross it with brent crude. a good chunk of economic activity comes from crude exports. i want to get into what you just said about private investment. we have an antecorruption probe that looks like it is being wound down. quite a few have been worried this probe, even if they are trying to make it transparent is sending the wrong signals how they go about their business. you're saying they are doing the right thing trying to close this up and make things clearer. >> i think it is going to take time. the short-term from my perspective is negative. i'm not suggesting bad long-term. i think it is good long-term but short-term brings uncertainty. i don't think that the end of the probe means that the sentments in the business community will recover very quickly. why? because even those who are outside the -- are worried what is the next step. we don't know. we don't hav

e.c.b. president mario draghi credited with saving the euro zone economy in july of two thousand and twelve when he pledged to do quote unquote whatever it takes to preserve the euro will be stepping down at the end of may when his eight year term ends. the united kingdom's hotel sector received a thirty five percent increase in investment last year totaling five billion pounds more than fifty percent of that five billion came from foreign investors as the u.k.'s would tell just you saw an increase in travelers including more tourists to the u.k. than ever before. and on that topic we are joined by president founder of straw mark a global business development firm henry ford which gallery thank you for being here you're welcome ok so how has the hotel sector done in the past in the last year or so and put it in perspective given to related things like food service industry yes the hotel industry has just taken off and it will continue to do so particularly over the last two years and what you're finding particular when you mention with regard to the u.k. a lot of this has to also do with the chinese traveling the number one destination for the chinese is the u.k. and y

e.c.b. president mario draghi credited with saving the euro zone economy in july of two thousand and twelve when he pledged to do quote unquote whatever it takes to preserve the euro will be stepping down at the end of may when his eight year term ends. the united kingdom's hotel sector received a thirty five percent increase in investment last year totaling five billion pounds more than fifty percent of that five billion came from foreign investors as the u.k.'s hotel industry saw an increase in travelers including more tourists to the u.k. than ever before. and on that topic we are joined by president founder of straw mark a global business development firm henry ford which hilary thank you for being here you're welcome ok so how has the hotel sector done in the past in the last year or so and put it in perspective given to related things like food service industry yes the hotel industry has just taken off and it will continue to do so particularly over the last two years and what you're finding particular when you mention with regard to the u.k. a lot of this has to also do with the chinese traveling the number one destination for the chinese is the u.k. and you kno

e.c.b. three hundred million people in the u.s. federal reserve went got a first mover advantage whether or not the u.s. central bank whether or not the european central bank will be able to buy shares in apple as swiss the swiss national bank has done swiss national bank owns millions of dollars worth of shares of apple by the way that's part of their portfolio so whether or not the u.s. government could do that without causing hyperinflation i don't think that they could do it like the swiss national bank has done and all of these mad markets whether it's kodak coin or the s. and p. five hundred already hitting near and estimates in the first eight days you know this could be the sort of spiral the vortex the craziness that you know these eight years ago or nine years ago was set in ten years ago back in two thousand and eight when these central banks started going insane is this is finally they're finally getting the inflation that they want but i don't know whether or not it will be out of control well you do have some pressure on the u.s. dollar world reserve currency is trending down and if we see that break ninety on the index you know they're going to h

e.c.b. three hundred million people into the u.s. federal reserve went got a first mover advantage whether or not the u.s. central bank whether or not the european central bank will be able to buy shares in apple as swiss the swiss national bank has done swiss national bank owns millions of dollars worth of shares of apple by the way that's part of their portfolio so whether or not the u.s. government could do that without causing hyperinflation i don't think that they could do it like the swiss national bank has done and all of these mad markets whether it's kodak coin or the s. and p. five hundred already hitting near and estimates in the first eight days you know this could be the sort of spiral the vortex the craziness that you know these eight years ago or nine years ago was set in ten years ago back in two thousand and eight when they central bank started going insane is this is finally they're finally getting the inflation that they want but i don't know whether or not it will be out of control well you do have some pressure on the u.s. dollar world reserve currency is trending down if you see that break ninety on the index you know they're going to have a

global central banks will shut it down to memphis bankrupt we know that they were completely bankrupt before they tried to before they interfere with the greece with the troika the e.c.b. . and then the you and the e.c. and before then they were about to close up shop and go away because they were there bankrupt they then got a bunch of banks to reacquire them christine legarde going to get your own currency the s.d.r. the special drawing rights yeah special drawing rights on his back rub the exact same defense bankrupt they are a solvent another if the most leverage bank in the history of banks backed by nothing but who should i be errors it takes i understand that that's the roll up all the global that into a global special drawing right to bail out all the banks again yes but it's another fee out currency that's going to drive more capital into gold and more capital into bitcoin i mean that the worse because it is a response to the s.t.r. the s.c.r. is just another fiasco r.c.s. can't bail out a fee our currency with another fee our currency and you know what you know what banks you know who really gets hurt is the middle class was flushed down while there's millio

e.c.b. president mario draghi credited with saving the euro zone economy in july of two thousand and twelve when he pledged to do quote unquote whatever it takes to preserve the euro will be stepping down at the end of may when his eight year term ends. the united kingdom's hotel sector received a thirty five percent increase in investment last year totaling five billion pounds more than fifty percent of that five billion came from foreign investors as the u.k.'s hotel industry saw an increase in travelers including more tourists to the u.k. than ever before. and on that topic we are joined by president founder of straw mark a global business development firm henry ford which hillary thank you for being here you're welcome ok so how has the hotel sector done in the past in the last year or so and put it in perspective given to related things like food service industry yes the hotel industry has just taken off and it will continue to do so particularly over the last two years and what you're finding particular when you mention with regard to the u.k. a lot of this has to also do with the chinese traveling the number one destination for the chinese is the u.k. and you kn

e.c.b. is being quiet now because there is -- but at some point you see them, you will hear them talking moreairbus debt? have you been able to be ob tune isk before this emirates trade? what do you do with airbus? >> we are a multiasset firm. we are buying equities, not debt, equities of industrial companies linked to capex. defense, infrastructure. boeing or s like airbus are some some of the companies we have been buying. tom: this is what we like to do atsur sur. a conversation with someone making news. john levy will join us. can the chief operating officer of airbus. an important transaction for airbus. they do business this morning th emirates of the unite emirates republic. stay with us. from london, this is bloomberg. ♪ >> this is bloomberg "surveillance." let's get the bloomberg business flash. rupert murdoch has settled phone hacking claims with four celebrityity. no news on how much newscorp will pay over algailingses that journalists and those working for them hacked their voicemail. ready for its i.p.o. in the second half of this year according to the c.e.o.. the oil giant is lo