david: enda curran is with us in our studio. a lot of ways, it is not of the war is over by any stretch but we felt energy prices going out in the asia pacific. what is the big picture if we do proceed? >> military experts are saying this is a big brick through for ukrainian forces. how this plays out and how it plays out economically is far from clear. europe is heading into a recession all because of the energy crisis that has come on the back of the russian invasion in ukraine. global food prices, we know the spike that had. those food prices have come back in recent months. military experts are saying this is a big rig through but how this trickles through to the energy crisis story, i don't think that is yet clear. rishaad: we mentioned some of the commodities prices that are weakening. gas prices in the u.s. really falling since their peak in june. could that lead to u.s. inflation ultimately being weaker than has been penciled in? >> it is probably going to give it a big headline. u.s. inflation i expected to slip -- is e

joining us is enda curran. what are we expecting with the ecb, and those all-important inflation figures in the u.s. on tuesday? enda: we are getting more hawkish signals from the ecb, the president speaking over the weekend making the point that where inflation is right now means that the ecb has a lot more work to do, and that a include more jumbo sized hikes even though he was saying inflation may peak this year, he still sings it's going to stay high and the best thing you can do is to get inflation low. hawkish from the ecb. in the u.s., it's about inflation data on tuesday. the expectation is headline inflation will slow for the second month in a row and reinforce that maybe u.s. inflation is turning a corner. but quarter inflation is expected to be quite sticky. keep an eye on rent and cost-of-living. the fed is expected to go 75 basis points next week. manus: the door is open, jump through it some say. enda curran there. let's check on the markets for the asia-pacific region. juliette saly in sydney. a

enda: the dollar story is ricocheting through every corner .en lost its safe haven status and has had record losses, forcing the government of japan to buy it last week. lots of speculation about how the chinese authorities might respond. and you have the story in western europe. the strong dollar is pulling money away from the rest of the world, and away from developing economies. and forcing central banks to raise interest rates perhaps more than they would have to defend their currencies, which is hurting growth. it is kind of a vicious cycle. it is strong dollar, it helps exporters but only if there is demand, and not if currencies are weakening at the same time. it is hurting countries that borrowed in dollar. it is having a net-net negative affect overall. dani: voting in moscow's referendums is due to end today. this is bloomberg. ♪ dani: ["bloomberg daybreak: europe", i'm dani burger in london. at 11:00 a.m. we will have the riksbank governor speaking on the situation in london. at noon, the focus is on the boe, we will have the chief e

enda: you have to think that a lot of options are sure to be on the table. there was a miss on headline and core inflation last night, shattering the conversations. we were expecting gas prices to come down. gas prices came up all right but that wasn't enough to bring it down. stickiness and rental costs, medicine costs, and the price of food. that is driving up the headline and corine eggs. economists are saying that the inflation is more broad-based in the u.s. and more pervasive than anyone expected. to your point, that means the central bank is their only option now. they will keep going well into the end of the year with these large interest rate hikes. certainly bad news for the fed. a big step back in the inflation debate. a good reminder of how far the u.s. has to go before inflation gets back to its targeted area. dani: nothing to prevent the market from pricing and 100 basis points. we are in that fed blackout. thank you so much. enda curran. bloomberg has learned the biden ministration is mulling re-flailing the u.s. crude oil reserve. we are join

enda: i think it is well established. i think the markets have got to adjust to market staying higher for longer. he also said that they will talk about may be the fed pivoting or cutting interest rates when the fed starts to peek out. it is quite unlikely. more hawkish synchronicity from the fed. doubling down on the message from them in recent weeks. it seems to be a consistent message rates are staying higher for longer. dani: thank you so much. pressure in europe grows on officials to act more aggressively to fight inflation. hiking in other 125 basis points , another 75 basis point hike already baked in. now we are joined by bloomberg's lizzy burden. >> goldman sachs and bank of america now seeing 75 basis points. it is partly because of the inflation we had yesterday. a new all-time high for august. it implies that is broad-based. it could start to show you some raw data. this not just about what they have been saying. the fed has been very clear about their messaging in jackson hole. we have to be clear. it is a gu

haidi: enda curran there.ve a result in the chilean referendum on the constitutional amendment. we are seeing a rejection of the constitution. 48% of votes are now in, 37.4% were to approve. this was a constitution that would elevate gender issues, environment, stability. the majority of chileans what a new constitution but this was not it. the president suggested there would be a new draft up for vote, but this draft has been rejected by the chilean public. there is great uncertainty associated with the outcome, but we could see less selling pressure on local assets, but this does not settle the issue with potentially another vote to come. up next, china's biggest ev producer making inroads into the japanese market. the president of the company is next. this is bloomberg. ♪ haidi: the city of okinawa as ordered residents to evacuate due to the possible threat posed by a typhoon, the strongest one this year. cabinet ratings have fallen by one percentage point to 50%. we will watch again as a key focus of the f

enda: it's becoming quite active on the exchange rate. apologies. telling the market, look, it's wrong to bet on one-way direction for the yuan. it is up or down. they are making a point that market players have instability when it comes to the yuan. it's a coded warning to chinese banks got to be facilitating any time it of speculative trade. and of course they made a clear warning and they have the tools and the experience and handle spectators betting against the yuan for their net losses long-term. to your point, pboc can say that, but we know the fundamentals are why yuan is at its weakest against the dollar in 2008. it's because of this aversions between the fed, the pboc, monetary policy and because of china's own economic slowdown. obviously those fundamentals anywhere would point towards a weaker currency. that's what's going on and what prompted the pboc to give this morning. haidi: mark, the same question is posed. you have south korea joining the list of interventions. you have taiwan floating the idea of currency controls. this is reall

dani: thank, enda curran. there have been some big swings as the boj stands by their monetary policy. the currency briefly touched 145, a level not seen since 1998. the boj, holding the balance rate at -.1%. let's get to paul dobson. absolute whiplash in this market. it seems like there may have been some strength but it has now disappeared. is there anything that can stop the dollar dissent at this point? >> globally it looks like nothing can stand in the way it by now. that is part of the problem. this tidal wave we are seeing across all of the markets, to be fair, there are no weak spots. there is a general underperformance. if you are going to do intervention, help people. make people scared of you. that is probably the only weapon they have. not in a panic, but continuing to go, they will only be able to slow the flow. i think that is what we are seeing with the monetary policies. not that much action because they know they will just get washed away by the strength of the dollar. dani: you mentioned steal

enda: very direct message. no ambiguity there. making the point that she wants to see rights -- rates go into restrictive territory. that's jargon for when interest rates fight economic activity around the u.s.. she did give a nod to two-sided risks in terms of what happens when you are raising borrowing costs. at some point, all of it will start to create pain in the economy. she doesn't seem to be there yet. she didn't give a nod to whether it is 75. that debate will continue. we will have u.s. inflation data . interestingly though, they increase their forecast this month. they are expecting 75 basis points hike. 50 in november when they were thinking about a 25 basis point move there. when you consider it altogether, it's a pretty hawkish outlook for the fed. interest rates going in one direction. dani: all right. thank you very much. of course, all of that impacting what the ecb does as well. it will be holding its first monetary policy meeting today. officials raised the key rate for the first time in 2011. we are joined by m

enda, thanks so much as always. e.u. energy ministers gathered in brussels, as the bloc tries to tackle the energy crisis. on the agenda is energy security and a potential cap gas prices. this comes after damage to the nord stream pipelines, what nato calls an active sabotage. joining us from brussels is maria tadeo, what is the outlook for energy ministers, how much does the price leave help? maria: when you mention price relief, that is a good point. if you look at wholesale gas prices, they hit a record at the end of august. this promise of verbal intervention from the european authorities did take some of the heat down. so prices have stabilized compared to those highs. but still this is a lot of pressure for countries across europe that continued to say we are paying too much, this is feeding into inflation and could lead to social tension, we still need more measures. you alluded to the perennial story, and just to remind everyone because this gets complicated, sometimes i get lost in the many caps the european uni

scandal upon scandal emerging and that really dominating the agenda. and that really dominating the a . endat really dominating the aaenda. �* , ~ , agenda. and i “ust? i think there is agenda. and i “ust? i think there is a collective — agenda. and ijust? i think there is a collective holding _ agenda. and ijust? i think there is a collective holding of— agenda. and ijust? i think there is a collective holding of breath - agenda. and ijust? i think there is a collective holding of breath at. a collective holding of breath at the moment. untilwe see a collective holding of breath at the moment. until we see this... what _ the moment. until we see this... what the — the moment. until we see this... what the prime minister unveiled is absolutely fundamental. how it lands, — absolutely fundamental. how it lands, how it's received, with her own party, — lands, how it's received, with her own party, with the expert and with the electorate. and there is the sense _ the electorate. and there is the sense that we're all waiting to see what _ sense that we're all waiting to see what happens, and i su

enda curran.he german government has set aside billions of euros for gas purchases in an effort to stave off an energy crisis since russia cut off its supplies. for more, we're joined by dan murtaugh. we have seen some reaction in the european gas market, falling 16%. what germany is proposing, what are the details? how likely does it seem to help support this european economy to the winter? dan: germany set aside 1.5 billion euros already to buy lng cargoes to make of a russian supply and they have burned through almost all of that. they have set aside an extra 2.5 billion euros. the reason that lng cargoes are so expensive, they are going for $130 million of cargo. two years ago, it was $12 million. they are putting money aside to buy enough spare gas to make it through the winter. whether it will be enough or not is still really on a thin line. it will really depend on how cold the winter is, how much heating demand is driven up, and how much germany and european nations will proactively destro

. >> enda curran is here.ll of those things are together for a reading for may will be on the soft side. >> people have been talking about a slowdown months now. you have ongoing covert restrictions, slowing global. export figures showing global demand there is a base effect and we are looking at eight slowdown around 13% today. >> based on the trajectory, is there a downside risk? >> if they come in earlier, it will cement that. we are seeing it now. of course, that will reinforce the idea that chinese to me is heading toward growth area. do not discount inflation when it comes to export data. >> it is important to make that. >> will get to that in a bit. this is bloomberg. ♪ >> back with bloomberg markets the latest business flash. we will move ahead with plans for the life and retirement division. 18 million shares in corporate. the listing has been slated for earlier this year with a delay in market downturn. the city's most expensive hotel. 57th street and fifth avenue. transaction structured which could

we are joined by enda curran.ow strange is this to hear the imf criticizing fiscal policy from the g10 nation? >> it's very direct, it's very blunt and unusual to be aimed at an advanced economy the size of the u.k.. the policy looks excessive on the physical side. they said it could in fact end up stoking inequality. so it was a very direct rebuttal by the imf. the first time they had clashed of course. the imf was back against u.k. policy. i plan to set out their own fiscal policy right now it's a very stinging rebuke from the imf and it is pretty unusual and it goes to show the amount of international scrutiny towards the uk's recent actions. dani: i have to wonder if part of the imf thinking is that perhaps there are consequences beyond the u.k.. we heard from fed officials warning about that. is there an idea that this could have a bigger spillover impact than just the u.k. itself? >> certainly there are international elements making this comment. it's more about what it means for mobile market sentiment and

enda: is a very different story.uite subdued because of the ongoing covert restrictions. food prices are expected to stabilize. more broadly, it's a wheel basket under control. core inflation subdued due to the decline in energy prices, especially oil. consumer inflation is expected to come in and around 2.6 percent. factory prices, like you mentioned, also coming off the board and that's reflecting slowing demand with your chinese export slowing. ozzie prices have come off their highs, that's helping then. if you have slower producing prices for chinese companies, that's pressure taken off the global and fresh -- inflation story due to prices of goods. when you take it altogether, the chinese inflation story is very different compared to others around the world and it means the government has plenty of room to put more money into the economy without worrying about price pressures. paul: how about some of the smaller companies in china, what's the latest policy push to help them? enda: the story there came out last n

enda, zhe it will end on you and it will not be cheap.th the breeze agree to change the car is not going to. not yet. why satisfied? happy margarita uleva from voronezh asks is it safe to cook in silicone utensils? after all, it is somehow scary to heat something very similar to plastic. now we’ll tell you the molds for baking mats, silicone spatula tacks have really become very popular, they are loved by both housewives and professional chefs. this dish is very practical. it is easy to wash, and bright juicy colors delight the eyes of silicone for being that nothing sticks to it. well, in particular, if you use it correctly, if you have high-quality silicone, it allows us to repeat all kinds of unusual shapes that would be difficult to create without using silicone. with the help of silicone molds, you can make an unusual cake and decorations for it: a huge orchid made of white chocolate, please, pastry chef lyudmila bukina warms up a special film, imprints a silicone mold pattern on it, this is the name of the mold for baking and decora

. >> the five is supposed to be hip on a street, high enda partments and restaurants, a barber who also didn't want to show his face says none of that matters. >> i've been in this area since the 80s. crime's always been here. it's less, but it's not going to change. >> police say they're making arrests every single day they blame the rising crime in turning criminals loose back on the streets the next day. in georgetown, lucas tomlinson, fox news. >> lucas, thank you. friday night around here of course means time to shine a spot light of the media's coverage of the news making headlikes this week and for that we break down the highs and lows with columnist stephanie hamel and town hall dot com managing editor spencer brown. first to you, stephanie, i'm in a good mood so i want to start off on a high note. usually i like to do the low and end on a high. let's start out with your high point for week. >> this is an incredible story. and i have to give credit to the news outlets and the networks who actually covered this story it's of a young man from fart walton beach in florida. he's a c

levelling up that with things like the levelling up agenda. that with things like the levelling u- a . endaon levelling up i up agenda. yes, with levelling up, j she did not mention levelling up in her speech, which was the big hallmark, orwe her speech, which was the big hallmark, or we were meant to believe, of borisjohnson's administration which was blowed a bit off course by covid and then the idea was he was going to swing back and really focus on that. it doesn't seem like she has the same priorities. it was a similar plan that theresa may came to office with, saying she wanted to help the parts of the country that the conservatives cannot reach —— had not reached. even david cameron and george osborne had the northern powerhouse but you don't sense that same imperative from liz truss, it does not seem to be on her list of priority. does not seem to be on her list of riori . ,, . , does not seem to be on her list of riori . ,, .,, ., , ,, ., priority. she has appointed simon clark... priority. she has appointed simon clark- -- as _ priority. she has appointed simon clark... as brandon

it today is when this chapter in our history enda— today is when this chapter in our history ends-— historyand then lying in state and thousands of people have travelled the length of the country and beyond to pay final tribute to her and today the final journey begins. first the shortjourney her and today the final journey begins. first the short journey from westminster hall to hear, westminster hall to hear, westminster abbey, a place that has been the backdrop to so many key events in her life, key engagements. she was married here in 1947, she was crowned here in 1953, and today it will be her funeral service was crowned here in 1953, and today it will be herfuneral service here. thank you very much indeed. sarah campbell, our royal correspondent. around 2,000 people will pay their final respects to the queen at her funeral service at westminster abbey later this morning. amongst the heads of state and dignitaries in attendance, a number of people recognised by the queen in her birthday honours list have also been invited. john maguire is at westminster hall for us, with some of those