. ., ., ,, , the ecb.s big sell across euro -e the ecb. it follows big sell across eumpe and _ the ecb. it follows big sell across europe and asia. _ the ecb. it follows big sell across europe and asia. what _ the ecb. it follows big sell across europe and asia. what has - the ecb. it follows big sell across europe and asia. what has beenl europe and asia. what has been happening there?— happening there? what we saw overniaht happening there? what we saw overnight in — happening there? what we saw overnight in japan _ happening there? what we saw overnight in japan really - happening there? what we saw overnight in japan really hasn't| overnight injapan really hasn't been seen since 1987. it suffered its worst trading day in many years, in several decades. there are a couple of things in play. 0ne in several decades. there are a couple of things in play. one of the areas people are playing close attention to is the yen. we saw the japan central bank increase rates and we saw it strengthen against the dolla

lizzy: where does it all leave the ecb?we heard from panetta overnight whose giving us breadcrumbs saying it was reasonable to assume they're going toward loosening monetary policy. what lagarde said in july, september is wide open. now we look at the market pricing, were looking at a 65% chance of a rate cut in september, that has gone up a little bit in recent days and weeks but let's remember about a month ago we're talking about a 90% chance of a rate cut. so the steady will be super crucial when it comes to what that ecb will do going forward. were looking closely at the cpi data next week. today we will be looking at the eurozone negotiated pay, how much pay has been after go up in the euro zone in the second quarter. in the first quarter, it went up about 4.7%, that's about as close to the highest level it's been in 30 years. this will determine how much disposable income people have and how much more people are willing to pay. we're watching that very closely at 10:00 a.m. u.k. time. lizzy: when you got the likes of

and a member of the ecb governing committee.his to me was a seminal moment kicking off a rate cutting cycle. you did it and got ahead of it. does anything that you have heard here change your view about how quickly the ecb can go? olli: i think it has enforced confidence to the disinflationary process globally. of course the united states and its economy is central in the world economy and as jay was very clear that this is now the turning point in monetary policy and he is going to tame it. that is very clear for us europeans. even though we are not the third or -- the 13th federal district of the u.s. reserve. lisa: they say we want to but we are independent. we had the portuguese central bank and he said september is an easy call, you agree. brian: it is never an easy -- olli: it is never an easy call. as you look at data for the moment inflation is stabilizing and the long term trend. there has to be some weaker data some time ago. but now we see more convincing data concerning rates growth and we have to see the forest from

the ecb becoming a little bit more aggressive. end of the day for them it really is about their inflation mandate. as long as they move more and closer to 2%, there's no reason for them to hold back and move towards neutral. there's no reason for policy to be restrictive if you have inflation going towards that 2% target. with euro zone becomes more critical, especially at this juncture of how quickly the ecb will continue to cut rates joumanna: and was one of the reasons why we saw turnaround was the euro dipping after the inflation numbers came through. thank you so much. joining us to discuss more is head of market analysis at rbc parental. good morning to you. i was just taking a look at how markets affair this week and there have been so many events for investors to piece together. but at the end of the day the dow was at another record high. s&p is close to another record high. are investors getting ahead of themselves in terms of what they are pricing in and what they are pricing out of the fed by the end of this year? 100

the ecb president will have a tough job and have to manage expectations and we will see how dovish he is at the press conference in september. that will give us guidance as to how much more we could expect and it may well be that she will try to dissuade investors that they have done enough this year and we would like to see inflation come down quite a bit more. it is still a bit higher in terms of lowering interest rates one month after another so she will probably ask for a period of consolidation. whether or not it's given to her is a different question. lizzy: itely seems like she learned the lesson of being overly dovish in the first half of the year. mark cranfield, we thank you for that lookahead. let's look at what's coming up today on the docket. 8:30 a.m. london time, a decision from the reichs bank. it's expected to resume its easing cycle and cut rates. do keep an eye on the kroner. we will bring you an update later. 10 a.m. london time, euro area cpi, feeding into that ecb decision we were discussing with mark cranfield. 12 p.m. london time, the turn of turkey, expected t

trade pricing in two to three more ecb rate cuts this year. china considering allowing homeowners to refinance as much as 5.4 trillion dollars in mortgages. the plan is designed to level borrowing costs for millions of families and boost consumer spending. homeowners could renegotiate terms before january, when banks typically reprice mortgages. nvidia is set to be joining a funding rep for openai that could value the startup at over 100 billion dollars. microsoft has also been in talks about participating. that story later in the next half-hour. plenty of talk, few specifics. v.p. harris: day one it will be about implementing my plan for what i call an opportunity economy. i've already laid out proposals in that regard, which include what we will do to bring down the cost of everyday goods. mr. trump: your own economic nightmare will soon be over. jonathan: live from new york, good morning. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers

what about the ecb?eakdown of german cpi out of the headline read you got from the eurozone tomorrow, and we read down the breakdown of what we got from general, cpi was weaker than expected compared to a month ago, so you have the potential not just for a rate cut but the month after that and maybe onwards. lisa: and it is not just germany. the preliminary readout of spain shows the same downward surprise when it comes to inclusionary pressure. where's the concern that is going to outweigh the week as you see in a material way? we caught up with ecb officials last week, and they seemed like they were increasingly interested in cutting rates as much as the federal reserve. so the idea that the fed will cut the ecb at a time when they are seen weakness and disinflationary pressure, let's see. jonathan: 1.1093 on the euro. shares of nvidia lower in the premarket. failing to live up to high expectations, delivering an underwhelming forecast and using production snaps. no real concern about supply issues. th

of england governor andrew bailey saying it's too early to declare victory over inflation while the ecb'shief economist warns a return to 2% is not yet secure. >>> plus, israel declares a 48-hour state of emergency after trading strikes with hezbollah, the heaviest exchange of fire between the two since 2006. >>> and the harris campaign gets a post-convention boost saying fund-raising has topped $540 million while republican vice presidential j.d. vance touts trade tariffs. >> anything you lose on the perfectist consumer you gain in wages. you have more take-home pay and we also have more reliance. >>> welcome into the program. we begin with some breaking news this hour. first, it is germany's august ifo business climate index which is just crossing the market right now. the efo crossing at 87 with regards to what we have seen for august. that is certainly worse than what was expected here. for the expectation number it's crossing at 86.8 and the condition number crossing in at 86.5, so what we've seen here is the business climate index not improving in germany. of course, this comes afte

london time, more ecb speak from the governor of the bank of italy. that will feed into the euro picture we were discussing with mark cranfield. at 7:00 p.m. london time, but had minutes for july, do they change rate cut bets before we hear from powell on friday? you can get a round up in today's edition of debris. terminal subscribers can find it by going to dayb . coming up, u.s. secretary of state antony blinken leaves the middle east empty-handed. no ceasefire deal for gaza yet. we will get into the details next. this is bloomberg. ♪ lizzy: it is 6:15 a.m. in london. to the middle east where u.s. secretary of state antony blinken left without securing a ceasefire between israel and hamas, after spending tuesday meeting with egyptian and qatari officials, he emphasized the urgency of reaching agreement. >> our message is simple. it's clear and it's a urgent. we need to get a ceasefire and hostage agreement over the finish line. time is of the essence. lizzy: hamas pushed back against u.s. claims that it is telling talks, saying it is keen to re

to doubt whether or not if the ecb will continue to cut in the september meeting.hey will continue to cut. i think the only thing this will change with the narrative on other central banks is that we should reduce the doubt that we had whether or not they will continue cutting. i think once the fed starts to cut, once we see the soft landing of the u.s. economy unfolding, then there will be reasons enough for the other central banks to also focus a little bit more on their economies and slightly less on inflation and follow suit with further rate cuts. >> it's a fair point. let's unpack this more for what it means for europe. in particular, i know you had your eye on the german factory figures. why are we stuck in stagnation? >> we are stuck in stagnation in germany because we are stuck in the headwinds. those won't change quickly over time. this will take a long while. what we are witnessing in the german economy, stagnation since the start of the pandemic, basically. we see the cheaper energy prices may be coming from russia and exporting like hell to china is no

i mentioned just before, we are going to get ecb minutes this week as well.t is your view on trading in europe and asia looking at the 30,000 future view broad stroke. what about ex-u.s.? >> we started to find some interesting opportunities in europe because you have not had the valuation reset. there are value cyclical type names. it is important to understand what we have seen in the recent earnings print is bifurcation. you are seeing weakness on the consumer side. broadly, there are interesting ideas you can find that especially in the technology space or healthcare space that don't have the premium that exist in the u.s. >> fascinating. you will stick around on the other side of the conversation. it's luke barrs at goldman sachs asset management. >>> when we come back, we will look ahead to another packed week from the markets headlined by jay powell at the jackson hole summit. stay with us. we're back in two minutes. why do couples a sleep number smart bed? i need help with her snoring. sleep number does that. thank you. during our biggest sale of the y

this puts the ecb very much under pressure what to do because the slowing economy would actually callhem into action and cut more in september. >> indeed. your current call is one more cut for the year. does that stand or will that also have to change? >> no, we actually count in one more cut. the question is really whether they go for the september cut depending very much on the inflation print in august now. they will go for at least one more cut to try and stabilize the economy overall in the eurozone. >> i wanted to ask about the other risks out there. we are following the headlines because of the trade war between europe and china. do you see rising growth risks from international trade as well? >> yeah, so there is a risk, especially for europe and especially also for germany because we are very much intertwined with china. we have a lot of supply chain connection still with china. europe much for, for example, than the u.s. this tariffs on the evs actually put pressure on the -- on the trades marks. europe is very much dependent, especially germany, dependent on exports and als

adding to the case for another ecb rate cut next month.nd accelerating, japan markets adding to the bank of japan's case to raise rates further. >>> elon musk taking issue with a brazil supreme court. reporting the court's fined x for frozen starlink finances in country making sure the fines are paid. >>> turning to this week's big stock story. of course, nvidia in the aftermath of its earnings report. shares working to bounce back shedding more than 6% yesterday. during the company's conference call the ceo identifying one industry that could see a big boom thanks to the arms race around chips and artificial intelligence. pippa stevens has more on that story. good to see you. >> good morning. all about liquid cooling with nvidia's ceo saying the number of data centers that want to go to liquid cooling is "quite significant" because traditional air conditioning systems don't dut for genai chips like those from nvidia, given how much heat they're generating. rbc saying crossed the rubicon no going back to traditional a.c.s. about 5% of data

. >> let's look ahead to the ecb on september 12.oth of the central banks moving ahead of the fed. what should we expect from that looking forward? >> if you looked at the account of the minutes from the july meeting which were published yesterday, the governing council was saying, well, september is a good time to reassess the degree of restrictiveness in terms of monetary policy which is also a big hint to say, look, you know, we could well be cutting rates. there was also a line in the account which says, look, we can't leave policy too restrictive for too long because that will damage the economy and look at the data the ecb says it's data dependant and not data point dependant, but we did see a big drop in negotiated wages number in q2 which is the ecb's own series. that's something which concerns them, and the fact that pay growth isn't accelerating, it's actually going the other direction i think is a factor which will deliver the 25 basis point rate cut next month. >> okay. all good news for investors. rates seem to be moving

we will also hear from andrew bailey on friday at the ecb -- and the ecb's chief economist andrew blamesaturday. we get fresh figures on u.s. housing demand and weekly jobless claims. taking up the week we look at futures pointing lower on both sides of the pond. goldman cutting the risk of a rescission to 20%. will we see the encouragement continuing in the market later today? it doesn't look like it yet but flat on the futures picture. cross assets story -- the 10 year yield lower at 3.8%. the yen trading at 145 per dollar because we have seen it jump 1% amidst this broad weakness on the greenback. gold flirting with an all-time high on hopes of the fed cuts. brent is shy of $80 a barrel as traders monitor the developments in ukraine and in the middle east. we await a gaza cease-fire deal and we await an iranian retaliation. do we see the geopolitics dominating sentiment given it is a lean week for eco-data out of the u.s. it is not a small week for the politics and we can look ahead to the dnc. we are kicking that off in chicago later today. speaking in pennsylvania over the weekend,

the ecb releases the minutes from the recent meeting at 7:30 a.m.l summit at jackson hole begins today. cnbc is speaking with kansas city fed president jeff schmid. >>> the fed is signaling a rate cut is likely next month if the data keeps coming in as expected. for more, let's bring in katie sto stockton. she is a cnbc contributor. katie, good morning. >> good morning, frank. >> let's start off with how you see today shaping up with the fact that we're getting jackson hole kicking off and the minutes yesterday. how do you see the markets reacting? >> so far, we've had a really impressive relief rally from the major indices. we have come into these events pretty overbought from the technical perspective. i think that create s a challene that it can sustain this momentum and now as of mid week, we have some signs of upset exhaustion and the nasdaq 100 and most of the larger constituents. we feel the leadership of the market really has sort of a proof point to make here. nvidia, apple and others do show signs of exhaustion on the charts. >> we will ge

it could be another dovish signal for the ecb as we head into the next meeting.the fed turning dovish but maybe the ecb as well. that was it for our show. thank you for watching "daybreak: europe," the opening trade is up next to. ♪ ryan t. writes, "moving is stressful. can you help me take one thing off of my to do list?” ugh, moving's the worst. with xfinity, you can transfer your internet in just a few taps. just a few easy moves. did somebody say “easy moves”? ♪ ♪ oh no. no, i was talking about moving your internet. this will move the internet. ♪ ♪ ooh, ooh. -let's keep it professional. professional dancers! -ok! stay connected during your move with the best in home wifi. easily transfer your services in the xfinity app. bring on the good stuff. backed kriti: good morning. an hour away from the opening trade. a rate cut next month but questions remain around size in frequency and bill blaine says the battls

>> we see about 100 basis point cuts overall by the fed, 100 to 125 by the ecb and 120 by the bank ofngland. joumanna: perfect, thank you so much for giving us were forecast of the global economy and where you see rates going. also coming up, china currently dominates cleantech, but could it push a return to manufacturing in the u.s. and change that? this is bloomberg. ♪ joumanna: welcome back to "bloomberg daybreak: europe." today's clean technology supply chains are dominated by china, but that may change of reassuring efforts in the u.s. are successful. how far could the way for protectionism spread? here is our guest. the u.s. hiked tariffs on chinese ev's and the eu followed suit shortly after. is it your expectations that tariffs are going to be the new normal now? >> thank you for having me. recently what we have seen in western governments, especially the eu and u.s. have been reacting to the perception that they are more active in automakers. what we have seen is a reside -- is a rise in tariffs. the biden administration as raised tariffs on chinese ev's. the eu followed suit

why is the ecb not reacting to that? this is only going to deteriorate further in terms of the outlook for the eurozone economy. we've had almost two years of manufacturing transactions right now. >> geoffrey, thank you for being here. >>> okay, well, let's move on. i wanted to flag for you what we're seeing with money stocks. geoffrey was just outlining this. gold, you can see 2,509 u.s. is the level, pulling back somewhat. that's not stopping. the move higher we're seeing for some of the big mining companies, rio tinto up 1.4%. decent gains across that sector. the china commerce ministry has launched a dairy investigation into the eu. it will include belgium and italy. and weaked demand amid uncertainty. softwareone wants to take the swiss company private, adding it will update the market if and when required. >>> alcon posting a miss in second quarter sales with the company seeing weaker performance and being hit by effects. it's maintaining its full year outlook with david endycott saying he's preparing for launches

of course, the ecb are using the hundred to try and popularise cricket and they want their star playersinent that england have withdrawn chris woakes and ollie pope from playing in the hundred. woakes, of course, will have a big role to play now as the all rounder in the sri lanka test series and ollie pope, i can confirm, will captain england for the first time in these test matches against sri lanka starting next week for the first test match in old trafford. look, i guess injuries can happen at any time. it certainly changes the dynamic of this series. stokes does hope to play test match cricket for england again in october in pakistan. well despite the setback of losing stokes, former england captain michael vaughan thinks it might actually benefit england. in a funny way, it's a good time for the team to actually try and work without ben, you know, try and see how good they are without this inspirational leader. we know he'll be back and an opportunity for someone to come through the system. we're seeing gus atkinson, we've seen shoaib bashir, we've seen jamie smith this summer. an

markets are betting on a quarter—point reduction in the ecb's benchmark interest rate. hubs, on friday pledged to invest $6.65 billion by 2029 in what it called the largest investment plan in its history. it is one of the biggest airports in europe and it could limit the capacity to 10% below 2019 levels in a bid to limit noise. that's all we have time for. stay with us here on bbc news. hello from the bbc sport centre. england have had a successful day with the bat, and are now doing well with the ball in the second day of the second test at lords against sri lanka. they finished batting in the first session on 427 and have taken three wickets already as sri lanka begin their reply. gus atkinson reached his maiden century for england. hey were put into bat. shrank have begun the reply, currently 86 fife five, england taking five wickets already —— sri lanka. england won the first test match at old trafford. blaine hunt has won great britain's first medal on day two of the paralympics, in the velodrome. hunt had posted the fastest time in the men's cit—5 1,000m time tri

economy, and at 3 p.m., watch out for ecb speak. we get nagel speaking, the bundesbank president, known as one of the more hawkish members of the committee, ahead of a meeting possible out of the ecb in september. will be interesting to see if they are also coming around to the view that maybe it's time for another rate cut. you can get around up the stories need to know to get your day going in today's edition of daybreak. terminal subscribers can go to d.a. why bigo -- to d.a. why -- dayb . you'll see mary daly's comments. facebook being pressured to pull covid content. that's our daybreak page today. also coming up, libya can add to oil supply woes as duly governments fight for leadership of the central bank. more next. this is bloomberg. ♪ joumanna: welcome back. libya's eastern government is threatening to stop all oil production and exports nationwide, the latest move in a struggle with its tripoli based rival for control of the central bank in the nation's energy riches. crude has settled off after a three-day rally after

you have the ecb that has cut already, easing there. japan has just hiked.that feeling into what we are seeing? is this just a us story that markets around the world are reacting to other other factors at play? i world are reacting to other other factors at play?— factors at play? i think it's a bit of both. what's _ factors at play? i think it's a bit of both. what's most _ factors at play? i think it's a bit| of both. what's most important factors at play? i think it's a bit i of both. what's most important of the us is that this type of data and this type of market reaction suggests that there is a lot more pressure on the fed than there was a week ago. as a result with september the 18th so far away i think there is going to be a lot of concern about how the fed can react or could they react faster. i know pricing on great heights went up significantly in the last few days. you are seeing that nonlinear moves that people are really realising that this is going to have to be dealt with. katie kaminski. _ to have to be dealt with. katie kaminski, thank _ t

the last ecb meeting, trying to keep the door open.ision to reduce interest rates. socgen called it data independent. how data dependent is this call? what is the data behind this move? lizzy: if they had not cut rates today when inflation at the headline level is back at 2% it would have raised a real credibility issue for the bank of england. if you look beneath the hood, service inflation did come in hotter than expected. look underneath that and a lot of it is about the taylor swift affect on hotel prices. all sorts of things that are really volatile that the bank of england itself acknowledged last meeting that it is aware of. services inflation is on the way down. you can understand why they have cut rates today. lisa: looking at 10 year yields in the u.k.. to me this was a fascinating statement because it did not just talk about cutting rates in the near term and finally balance risk now. it talked about disinflation that continues into 2025 come into 2026 and beyond. it raises the question whether the long-term neutral rate is

we haven't heardfrom the ecb recently.owever, some of these moves we are witnessing this morning are also related to what is happening stateside. to briefly not in terms of what to expect today, we are going to hear from two fed officials, including chicago president who will speak to our colleagues stateside. mary daly will give a speech as well. we will see what comments they have as we track what happens in the u.s. bond market and also what is happening in the equity space as you see on the screen with the u.s. futures suggest a lower start to the trading social wall street as well. this after what was a very significant session on friday. we had all of the major indices seeing steep declines. this was across the board, not just in terms of the tech space. the nasdaq was, indeed, down by more than 3% for the week f. if you look at the russell 2000, it was down more than 6% on the week. >>> let's go to the big scene of the crime. the pull back started on friday after the non-farm payrolls totaled 114,000 for july. the r

the ecb are looking at another cut in september. the door wide open for the fed in september. surely, the boe 's today -- boe goes today. >> it may come to five against four votes, either one in favor of a cut or one against. from an investor's point of view, it is the guidance. they want to hear if the boe do cut today, has some clarity on where they will cut again and that will probably not happen. somebody will be disappointed today. people trading the pound will see it as a slightly bullish thing because they don't want too many rate cuts but bond traders will be disappointed. a lot has been priced into the u.k. gilt market and it is unlikely the boe will satisfy those expectations. equity market can probably take it in stride, provided the earnings continue to be decent. a very mixed bag. not everybody will be happy with the outcome today. tom: mark cranfield wrapping what we heard from the fed and previewing that crucial decision around the boe later today. our mliv team, thank you very much indeed. very pleased to say i'm drawing for an exclusive interview with the

we expect more cuts to come through from the ecb and stimulus from china.as this the truck of the year? >> for china, i'm bearish for next year. that tracks longer than the totality of the business. this is what we see in china which will continue through 2025 and impair our china business. on the other side, it can turn any quarter, but didn't turn in the second quarter. the third quarter will be bad and i have a feeling the fourth quarter will be similar. let's see what 2025 brings. if you were to ask me a half year ago , i would have been bullish. those hopes did not go through. >> the recovery in europe taking longer than expected. now very bifurcated markets globally with the u.s. against the rest of the world. some of the clients on the car side have seen a lot of margin pressure coming from the u.s. market. you, not so much. you are seeing strong business there. the bus business is doing well. what can you tell us about the u.s.? >> the u.s., we have absolute picture-picture lineup. that is a strength of daimler trucks. other segments we are strong a

it's a problem ecb has as well. they seem to be slightly more on, if you like, more concrete path, 25 basis points per quarter. there is a little bit on the inflation data, but given the concerns in the u.s. and everything that's happened since, i think a 25-point basis cut in september is pretty likely. >> anything else you're watching in terms of data releases to come? >> i suppose retail sales, that's the other key question, what happens. are we entering a recession? when you look at previous periods when this has happened in the past, often some of those slowdowns and consumer spending have come after the so-call ed ruling. those are the key things to watch. >> watching it closely. james, appreciate you coming on today. that is james smith, development market economist at ing. >>> coming up, balderton capital, we're going to dig into it with one of their partners next. next. stay with us it's like having your own personal language coach. babbel offers live classes with expert teachers for real world conversation

nagel urging the ecb to be careful and not rush to cut rates too quickly. philip lane, also saying the return to target is not yet secure at jackson hole this month. so, look, what does all of that mean for the boe, which is also expected to, perhaps halt rates next month. how is the picture different here than to the rest? >> andrew bailey, governor, was also talking and jackson hole. he sounded pretty cautious and balanced, although we did have rate cuts we will be in a finely balanced decision in august. if anything i would argue the inflation challenges in the uk are purse slightly more pronounced. we are looking at services inflation, though, it is often speak a little bit about 5%. we are looking at wage growth above 5% too and that is a little bit stronger than we are seeing. so, that is one of those reasons why we are thinking that the path for policy rate should be even more cautious. hence, by our forecast we see a hold in september, we don't think the next rate cut will come through till november. >> so, looking out for november. and how much of

the ecb officials we spoke to in jackson hole all had one concern, weaker growth.al for a couple rate cuts in the united states on the heels of not weakness we have seen but to normalize rates is undermining the idea of a stronger economy we are seeing in the european region. jonathan: the euro-dollar, 1.11, just about. vice president kamala harris and her running mate tim walz taking part in their first joint interview on cnn tomorrow night, the first substantial interview for harris's she replaced president biden at the top of the democratic ticket. if you consider those other exchanges with reporters on the sidelines to be a broadcast interview i guess. this is the first. lisa: this will be very highly watched, perhaps as highly watched as some other events as a new calendar item before september 10. a key question to me, is tim walz a liability to her? if she doesn't answer with real policy, does that become a problem? the complaints will get louder. people want a framework or a rubric to help she will govern. jonathan: it has become an issue. this is the bias

how linked are i central banks around the world, remember when we announce the ecb's interest rate cutsd now, it's the uk leading the charge ahead of the fed, jerome powell say yesterday that september is the likely date for interest rate cuts, what is going on in america?— cuts, what is going on in america? �*, ., , ., america? it's a good question because coming _ america? it's a good question because coming into - america? it's a good question because coming into this, i america? it's a good question | because coming into this, they raised them and the fed did nothing although the american federal reserve market think it's a 100% near certainty that it's a 100% near certainty that it will cut rate5 it's a 100% near certainty that it will cut rates in september, the us has got the same challenges as a uk although the fed is to mandate, it's got inflation and employment to think about but lives with the same challenge of balancing 5ame challenge of balancing inflation against growth and looking at the us manufacturing numbers yesterday which saw foreign financial markets growth looked

why would your test match captain be playing in the 100 ball franchise competition. of course, the ecbsing the hundred to popularise cricket and they want their star players involved in that. wilkes will have a big role to play, and ollie pope, i can confirm will captain england for the first time in these test matches starting next week on the first test match in old trafford. look, iguess week on the first test match in old trafford. look, i guess injuries can happen. it certainly changes the dynamic of the series. joe wilson, or sports correspondent, many thanks indeed. james anderson might have played his last game for england but he is considering a move into white—ball franchise cricket. the 42 year retired from internationals earlier this summer as the most prolific fast bowler in test history with 70k wickets, but says he hasn't ruled out playing in shorterformats. he hasn't played a t20 match for 10 years. the premier league starts on friday , champions manchester city will be targetting a fifth title in a row. it's now 18 months since 115 charges were brought against them for

the ecb described him as a beloved member of the cricket family.

of course the ecb are using the hundred to popularise cricket, and they want their star players involved match in old trafford. james anderson might have played his last game for england, but he is considering a move into white—ball franchise cricket. the 42—year—old retired from internationals earlier this summer as the most prolific fast bowler in test history with 704 wickets — but says he hasn't ruled out playing in shorterformats. his last t20 match was ten years ago. well, another england bowler starred in the hundred tonight — as the northern superchargers kept their hopes alive of reaching the elimination stage. adil rashid took three for 16 from 20 balls — as london spirit were restricted to 111—8 in their innings. the supercharges were 64—1 when the rain came — and the match was abandoned. the superchargers winning by 21 runs on the duckworth—lewis method — and go up to second in the table. and that's all the sport for now. good evening. in recent nights, we've had some fantastic displays of the aurora borealis, even into southern parts of england. and the opportunity may well

they did not, part of the problem we have with fed unlike bank of england, unlike ecb don't tell us enoughers are bank of england cut rates told five people voted for this cut, four against a sense of uncertainty the fed did not single that because of that moved around a lot by what our inherently noisy data. >> cheryl breaking the news in a few moments consumer piracy detection the jackson hole meeting in a week august 22 on shelter, and auto insurance the things that have been sticky what is your opinion on inflation and where this goes next? i know way down from highs but you are still looking at things that are way too expensive whether food or auto insurance or rent. >> yes two elements the level of prices, people are till shocked by how high that is, in terms of of change in prices, rate that will continue to come down but not come down to 2%, unless fed willing to risk a recession it is more likely to stick 2 1/2%, closer to 3. on jackson hole golden opportunity for chair powell to regain control of economic and policy narrative. >> how would he do that? >> by signaling three things

all of this important data as we head into the next ecb meeting. u.s. jobless claims, the market has been watching them closely given the focus on the u.s. labor market, and later on a pretty time u.k. time -- 8:30 u.k. time raphael bostic is speaking again. early on this week he said that he would actually need to see more data to confirm the need to cut rates next month, so perhaps one of the members of the fomc chairman powell will need to convince devote for that kind at the september meeting. it will be interesting to see what he says later today. get a roundup of the stories you need to know to get your day going in today's edition of daybreak. germinal subscribers go to dayb and take a look at some of the top stories on our terminal. one of the mentions is nvidia, further analysis nvidia earnings are having on global stock markets. coming up, in a first for the biden administration the senior white house official jake sullivan sat down for rare talks with the top chinese general. we will discuss that next. ♪ >> it is rare to have this kind of

in other news, ecb governing council member martin says the central bank should consider more rate cuts sat down with lisa abramovitz in jackson hole. >> i would be very much open for a discussion of yet another rate cut but we will need to see the more forecast and data but i would say even if inflation, it is consistent with further rate cuts. >> mark schneider, the ceo of nestlÉ is no more. he is replaced by lauren forex after almost eight years at the helm. he will take over from september 1 as they try to bring things back to premium brands. elliott is said to be getting 200 million euros from deutsche bank. bloomberg understands that hedge fund was the largest plaintiff in the litigation against the german lender in a takeover that took place more than a decade ago. those are some of our top stories this morning but coming up we will take a closer look at the huge challenges of containing the mpox outbreak. we will speak to helen from the world health organization. stay with us. this is bloomberg. ♪ lizzy: welcome back to bloomberg daybreak: europe. asian countries are stepping up

the fed to your view being a bit more cautious, going to be, where does this leave the likes of the ecb? andrew: -- let's look at with the central banks are doing. the implication of what powell might be doing -- i'm going to do a robert de niro for you. watch my eyes. it's going to be zero. the bank of china, it is cutting interest rates, completely unrelated to what happens in the states. the makeup japan -- the bank of japan it -- japan hinted it might increase interest rates if inflation continues to accelerate. the european central bank is effectively sitting on its hands and saying if inflation continues to fall, we will take action. in other words, the other three major central banks are not looking at the fed for guidance because they have their own problems. >> i think the main disagreement seems to be over timing. the general trend is the same. the fed is likely to move to ease and the boj to tighten. let's take a look at the yen. it has strengthened impressively. where do we have it by year end? >> let's take two items here. if the fed cuts in september, the yen will continue

the ecb described him as a beloved member of the cricket family and said there were no words to described. a century and his debut test. that - test match and making a hundred. a century and his debut test. that was| century and his debut test. that was 1993, for century and his debut test. that was 1993. for over _ century and his debut test. that was 1993, for over a _ century and his debut test. that was 1993, for over a decade _ century and his debut test. that was 1993, for over a decade graham - 1993, for over a decade graham thorpe at his best was the world's best, he could adopt his batting two conditions, circumstances, countries winning against pakistan and blazing a double century in christchurch. very satisfying to be able to score 200. hundred each for both of my children. it has been a tough time from that point a few, but it was also very much towards the team as well. , . . also very much towards the team as well. , ., ., ., , �*, also very much towards the team as well. ,., ., ., , �*, , ., also very much towards the team as well. ., ., , �*, , ., ., well. graham thorpe'

>> on the front end of the curve, our view is ecb cuts in september very much like the fed at 25 pointsnd another cut in december at 25 points. if i think of the bank of england and the data that came out this morning, it is consistent with the next cut coming in november. the next base days is the cut is coming, but shallow rate cutting cycle. bund yields around 220 to 240 level. >> fascinating. i wish we had more time. thank you for coming on today. we appreciate it. >> thank you. >> that is kumar, the chief economist for europe over at jeffries. >>> stay with us on the program. on the other side, iea and opec is divided on the forecast as the middle east tensions ratchet up as we look cdetoru. stay with us. why do couples choose a sleep number smart bed? can it keep me warm when i'm cold? wait, no, i'm always hot. sleep number does that. during our biggest sale of the year, save 50% on the sleep number limited edition smart bed and free delivery when you add any base. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cir

and greater risks to the growth outlook has boosted the case for the september cut according to the ecbovernoring council member rehn. the central bank chief emphasized the justification of the cut and the path to the 2% target is likely to be bumpy. we are watching the final eurozone print for july. r the month on month read is seen coming in flat. china central bank left key rates unchanged in line with expectations. the pboc leaves the rate at 3.35% and the five-year at 3.35%. the move comes after thers cut rates and making further adjustments to the lending program. lori green at ts lombard told cnbc that consumption in china will require shifts. >> there has been talk about raising consumption and boosting demand around the third plenum to perform more structure changes to welfare. closer to home, more cyclical outlook which has been a push on upgrading equipment and upgrading electric vehicles as well. i would expect that to come and prove moderately supportive the consumption in the second half. it will not change the outlook. we need something bigger from the government and stro

the ecb described him as a beloved member of the cricket family.evening and welcome to the bbc news at six. sir keir starmer says the government is ramping up the criminaljustice system to deal with the numbers charged with being involved in riots over the weekend with some already appearing court today. police say 378 arrests have been made since the violence started last week and they expect that total to rise every day as more are identified. the prime minister also announced what he called a "standing army" of specialist police officers to tackle violent protests. the unrest began last week in southport after the fatal stabbings of three girls. posts on social media wrongly blamed the attacks on a muslim migrant. the riots have spread across england and northern ireland, with shops looted, police officers assaulted and petrol bombs thrown at hotels housing asylum seekers. the worst of that violence yesterday was in rotherham in south yorkshire. our uk affairs correspondent daniel sandford is there. there were frightening scenes at this holiday

we have bank of england come out this morning cutting rates, the ecb last month cutting rates and i will bring this full circle, neil because it leaves us, do we have the hand in the back that we are too late to cut rates, will we have a soft landing, will we have a landing of 2024 or will it be a disastrous landing like 2020? my point in saying that is very clear. we are starting to have a weakening economy and it is very evident if you look at the numbers we are a debt fueled society, credit card rates, interest rates are at all-time highs, debt is at an all-time high, 401(k) withdrawals at an all-time high and we are gearing up for the seasonality of the market and as we all know going into september and october those are typically tougher times in the market and what happens during those tough times? the market traces. we could be getting great earnings reports and with anything i thought was a telltale sign with microsoft, all this exorbitant amount of spending coming into this segment right here, we just looked at $250 billion the fab 5 are going to spend next year on ai, the point

investors across the region also looking at the implications for the ecb and boe, for example, with markets now expecting those cuts to come. frank, back to you. >> thanks a lot. great to see you. we have a lot more to come on worldwide exchange. but fist, growing dilemma facing china. it attract investors. and harris getting a boost in campaign donations. and later, a pair of high-profile data breaches shedding light on the growing cyber attack threats. we'll look at how a company is protecting their high profile ies.clnt we have a very busy hour ahead. stay with us. at aes, our energy solutions have powered the world forward for more than 40 years. and as demand continues to scale, so do our solutions. introducing maximo - our new ai-enabled solar robot. max makes construction faster, safer and more cost effective than ever before. and with max doing the heavy lifting, even more people can join the team. solar energy is changing the world, aes is changing the world of solar. craig here pays too much for verizon wireless. so he sublet half his real estate office... aes is changing [ bird s

the ecb is already in a cutting environment. think it's late to the party, and it's going to have to catch up here very quickly. and if so all those things are going to have major impact in gold prices, mean, the name of the game is yield suppression. and that is a supercharged environment for hard assets, and i think gold is leading the pack. and other things are going to actually unleash because of the gold secular bull market, in my view. charles: all right. hey, it's been too long. thank you very much, my friend. appreciate it. >> thanks for having me. charles: you know, folks, when i was growing up in new york city, there was a bank called manufacturers hanover trust, and they began this ad campaign back in 19711 and ran throughout the '70s, it was the any car loan. now, essentially, they would make you a loan on -- the idea was on any car, used or new, any make, or any model. and to further illustrate this, they actually created this, right? it's the any if car. this thing is made up of 222 parts from -- 2222 part -- the 2

>> well, because the a ecb already cut rates back in june so, look, they are looking to stimulate.urope is going to uth perform america. i'm saying the american markets are extraordinarily frothy, you know. we've gotten back up to the high valuations, and we have a lot of risk if we don't perform to perfection, and i think there are enough cracks out there to say that this could be a disappointment and that we could see some downside. >> erin gibbs, great to see you. calling a defensive play. >>> one more quick look at futures as we mentioned all morning long in the green across the board after seeing a bit of a pullback. that does it for us. "squawk box" starts right now. ♪ >>> good morning. stock futures pointing to a higher open as the market awaits new comments from fed chair jay powell at jackson hole. >>> vice president kamala harris formally accepting her party's nomination for president last night. we'll take you live to chicago. >>> and shares of mediterranean restaurant chain cava are higher thanks in part to well-received pricier options including grilled steak. the ceo

when you think about the ecb and the bank of england, it's really just a question of when the fed mightheard yesterday from the bank of england was indeed a 25-basis point cut in term of their interest rates bringing them down to 5% from a 16-year high. but, of course, the question mark now at this stage is by how many cuts -- how many cuts are we likely to see from the bank of england? at this stage market expectation suggests the next cut could happen in november, but of course the bank of england is also going to be keeping an eye on what the fed is going to say, because if the fed moves there could be further pressure on the bank of england to also move on rate cuts. let's see. >> all eyes on jerome powell as usual. cnbc's silvia amaro, thank you very much live from london. really appreciate it. >>> and still ahead we'll talk to democratic congress member and member of the house foreign affairs committee paul keating. we'll be back in just a moment. g we'll be back in just a moment ne of the stuff it won't. our sulfate free collections smell incredible and leave your hair touchably

did thihis dean the subway up p now, beforore 's too o late i itch, scratchch mut stop thehe ecb sanitityith cortrtisone ten n for bug bibit poison i ivy, and otother riche cortrtisone ten is numumber one doctctor recommemended. it work fast andnd last for r hours. cocortisone ten n are you ready connect to a perfect j journey withth t turkish airlilines to welcomed and two feel refreshed to discover unforgettable flavors to reach n new heights f happininess no to connect toto journey thatat's perfrfect becae of you rigight now, pet t dande skinin cells in n dirtrt are seg dedeep intnto your cararpet fif stanley ststeamer removes s the dirt y you seen in t the dirt, dodon't yoyou're c corporates s aren't clean n until therere stanley steamer r clean not evey decisionon you make e will be i good a as getting g a volkswagat ththe south heheavy vw sumummers event 2024 volts of eigen models cost less to maintain than honda hit 1.9% apr financing or a $2,500 0 custome bonus s onon a new 2024. >> takake one the tempur-pededi breeze m make sleep, f feel coo >> so nono more sweaeating all ninight