and the rest of the eu. >> okay.lowing on from that then, then it sounds to many of us and this holds no fear from many of our points of view, that we would be prepared if all else fails in negotiations to fall back on wto rules and tariffs. now your fellow secretary of state for leaving the eu said that holds no fears. you know, if 170 countries can trade on such a basis and tariffs are as low as 3% to 5%, because the most favored nation status, et cetera, et cetera, i'm picking up here that it certainly holds no fears for you. >> you're trying to get me into running commentary about negotiations. i'm not going to -- i think we can do a great deal that will deliver a result of both goods and services for our businesses and for our friends -- >> you wouldn't disagree with your fellow secretary of state in saying that the wto holds no fears? >> as i said, i think it will be getting into the minutia of the negotiations. >> okay. >> let's move on very quickly. >> i think there will be a great deal done. >> eu divisions,

to back the eu's free trade negotiations mr. speaker, i share everyone's disappointment over the stalled talks between the eu and canada and we will, of course, do anything we can help get these discussions back on track. to those that suggest these difficulties have a bearing on our own future negotiations, i would remind them we are not seeking to replicate any existing model that any other country has in relation to its trade with the european union we will be developing our own model, a new relationship for the uk with the eu to be there from when we're outside the eu, a deal that is ambitious and bold for britain. mr. speaker, i also updated the european council on our position on brexit. i've said we will invoke article 50 no later than the end of march next year. it will remove from the statute book once and for all the european community's act so the legislation that gives direct affect to all eu law in britain will no longer apply from the date upon which we formally leave the ewe meuropean union. it will give parliamen

to the eu? because countries in the eu with aging population to grow more than otherwise it could. >> would anyone like to answer that question? >> sorry. >> thank you. please. >> i don't know whether you can change the narrative. immigration is such a powerful paradigm right now and it inspires a lot of fears. maybe just a reminder how this came about. in 2004, the eu accepted in a big bang ten mostly eastern european countries. that was a measure to stabilize eastern europe. some of them were probably not as mature to enter the eu as we would have wished. it was one of those assets of the european union to prove that it is a project of peace, stability and prosperity more than an economic cloud. at that time, many leaders said it's too early to grant them freedom of movement and settle down and exercise that profession so we agreed or most of the countries agreed to have a transition period of seven years, to wave that freedom of movement. there were two, if i'm not mistaken, two country that

not just to the eu but outside the eu. an increase in the budget of, what, 140 million pounds. you know very well, foreign secretary, is a drop in the ocean compared to what is required. how forceful are you going to be in lobbying for more funds within -- from where you sit? >> first of all, i'm grateful to the tenor of your arguments because they are most welcome to us and, clearly, we want to be arguing that global britain needs to be properly represented overseas. i think we can make that go a long way. very thrifty types in the foreign office. we'll make good use of that. but, clearly, we have a big network, or a robust network that needs to be properly funded. >> thank you for joining us and thank you to your colleagues for coming along. >> sorry to interrupt you, but the ones that i -- far be it to criticize bureaucrats. the unelected ones are the ones who shortly cease to have control -- >> all right. okay. >> these are the ones who will survive. >> all right. okay. so these bureaucrats are okay as are the ones [ inaudible ], of course. >>> in terms of your analogy on y

the testing of the eu's capability.sks of collapse in brussels one belgian region stands in the way of a massive and european trade deal with canada. continuing their offense, those iraqi government forces push operation toe regain the city of mosul. city of kirkuk is attacked. and a positive violence. russia's troops in the city of aleppo halt for a second day, but the u.n. says it is delaying its humanitarian operation, citing security concerns. let's turn right now to some business news. gelato joins us now. let's start with the merger of two telecom giants. reporter: at&t is an advanced talks to buy time warner. the deal is valued at around $73 billion and could come as early as next week in. at&t is rushing to confirm the merger of her fears of rival offers. rupert murdoch's 20th century fox denies that it is interested merger. next, to another multibillion dollar takeover offer, this time from british american tobacco. the london-based firm has offered to buy reynolds for $47 billion. british american tobacco cell

i want us to continue to have a good relationship with the member states in the eu and with the eu it's self. i think that's in all our interests. >> mr. hanson. >> mr. conspiracy. did the prime minister find time in her busy weekend to emphasize to european colleagues how much we value things such as the transfer agreement, things such as european arrest warrant and will she agree whatever negotiating she does, nothing will lead to the watering down of those commitments? >> know my commitment to the relationship that we have with other member states of the european union in relation to justice and home affairs matters, but i'm interested i've had a lot of questions about the detail of the discussions i had on brexit, the european council. of course, the main p toics that we discussed at the european council were russia, migration and trade, discussions on the detail of the negotiations will be for the future. >> the people voted more than any other to leave the european union and no constituency approves more of the prime minister's approach. will she now agree with me what they deserv

not just to the eu but outside the eu. an increase in the budget of, what, 140 million pounds. you know very well, foreign secretary, is a drop in the ocean compared to what is required. how forceful are you going to be in lobbying for more funds within -- from where you sit? >> first of all, i'm grateful to the tenor of your arguments because they are most welcome to us and, clearly, we want to be arguing that global britain needs to be properly represented overseas. i think we can make that go a long way. very thrifty types in the foreign office. we'll make good use of that. but, clearly, we have a big network, or a robust network that needs to be properly funded. >> thank you for joining us and thank you to your colleagues for coming along. >> sorry to interrupt you, but the ones that i -- far be it to criticize bureaucrats. the unelected ones are the ones who shortly cease to have control -- >> all right. okay. >> these are the ones who will survive. >> all right. okay. so these bureaucrats are okay as are the ones [ inaudible ], of course. >>> in terms of your analogy on y

and the president of the eu council.eporter: the rebels had been held up as heroes by anti-globalization activists around the continent. now the walloons say they have won important concessions. after long negotiations, we finally reached an agreement between belgians that will be submitted to the european institutions and to european earners. wallonia is extremely happy its demands were heard. we always fought for treaties that strengthen social, environmental norms, and protect public services. and against private arbitration that only entirely public jurisdictions that provide all the jurisdictional guarantees. we have been heard and now all this will be acquired. the deal must now pass the belgian regional and national assemblies, as well as the european parliament. only then will the canadian prime minister be invited again to come and sign the treaty. >> our brussels correspondent has been following the trade deal tug-of-war for us, and he had this to say about the diplomatic fallout. >> for 7 years, the eu negotia

successful future for our country outside the eu. would my right honorable friend agree with me that her starting position in the forthcoming negotiations is a strong one and we are seeing positive revisions of growth, low unemployment and exports set to outpace imports and proving scare amongers who predicted dire conditions were absolutely wrong? >> i thank my honorable friend. but i won't pretend that it's going to be plain sailing. but what is clear is that we maintain clear focus on delivering what the british people want which is leaving the european union. >> in her words on migration, is the prime minister alluding to the uk and eu's interest and making precedent baa shish a partner in migration and countering terrorism. >> what we are doing is -- what the european union is doing looking at initially small countries in africa to work with them on ensuring that there is support available that can reduce the number of people moving to europe. it's an important element of work. the uk has consistently said that we need to operat

though less heated as in the eu, it's about migration from the eu as well as from elsewhere.ccording to the european single market agreement, any eu citizen ceded too much power to brussels. >> i don't think great britain wants a similar agreement to our eos agreement. >> the british may feel at home with norwegian weather, but with the norwegian model probably not , as much. damien: now a lot of people i , know where i live in berlin, would like to buy their own apartment. which is actually quite unusual in germany. traditionally germans tend to , rent rather than buy homes in cities. but it's all because of low interest rates. and it's leading to rapidly rising property prices. just across the border in the czech republic though, for the same cost as a flat, you can buy a fairy-tale castle. although it might need a fair bit of fixing up. >> this mansion in the country just outside prague can be had for a mere 200,000 euros. but there's a catch. >> we're here in a typical czech chateau. one strong gust would blow the whole thing down. all that's left of the roof is pieces. b

s exit from the eu.he prime minister and opposition leaders speaking at the house of commons live at 10:30 eastern on c-span. on the road to the white house hillary clinton will campaigning in new hampshire with massachusetts senator elizabeth warren. we will take you to manchester live scheduled for 12:30 eastern. tonight at 7:00 debate in pennsylvania for the u.s. senate between maps to me -- pat toomey and katie mcginty. another tossup state is north carolina. the l.a. times reporting on hillary clinton's strategy in the battleground state. here's more on the race from this morning's washington journal. to this work -- >> talk with experts and people who are watching the races not only in the presidential side but the senate races in other races as well. we start today in north carolina. tamara will focus on iowa, pennsylvania will be our next stop on wednesday. on thursday we will take a look at florida and on friday, the state of ohio. joining us from winston-salem come to set things up for us and s

with members of the eu. we have just been through every negotiation in which we remained members of the eu. what we are talking about now is very different.are talk whether people like it or not they voted to leave the eu and that means work and leave the eu. we are to be a fullyo. independent country that is no longer part of the political union but can override national parliaments. we are going once more to have the freedom to make her own decisions on a whole host of different matters the process were about to begin is not about negotiating all of our sovereignty away and secondly about any of those matters it is not therefore an assembly addition anything like the one we've have for the last 40 years or so. it's good to be in agreement between it independent united kingdom and the european union. and as someone ask about the trade.ons and but that's the way to look at things.and be we will do what independent and sovereign countries will do. and we will be free to pass her own laws. we will seek the bes

the eu's response to russian bombings in syria. i hope that we as the european council can make clear that we need to work hard to reach a cease-fire. german chancellor on glum merkel and french president aland met vladimir putin on wednesday and are looking to play tough. they want to make clear that the eu is making clear the atrocities will continue. sanctions against syria and russia. we will put pressure on prudence so he will fulfill his duties. just stop supporting the syrian regime. particular, the country and member states are discussing deals with countries. limiting the streams of migrants from africa. once again in crisis mode. brent: crisis mode indeed. i wonder what the leaders of the eu must be feeling when they sit down. influencing russia to behave differently. >> it really has shown any affect that they know that they are not on the ground militarily. everybody knows that this is where they can build up considerable pressure on russia. he wants to keep all options on the table. you have a couple of countries. bren

a new day for that eu canada summit. board it wille on likely go ahead.ow was the deal reached between the government and local politicians? >> a lot of late-night talks including a lot of tension between the flemish side and the francophones. what he wanted was a better deal and more guarantees in the area of agriculture which he seems to have got. he also had a problem with the investor settlement dispute. foreign investors would be allowed to actually sue eu member states if they felt their laws and standards were losing their profits. they thought it would give too much power to corporations. he has a lot of supporters in belgium. there is a big protest going on right behind me. they will be looking to see exactly what are those guarantees and what the footnotes are in the document. it looks like a signing ceremony might he delayed by a few days. still some damage done to the use reputation. >> absolutely. donald tusk said the credibility of the whole block and its unity was based on signing that deal with an ally and a friend like canada. can't even

mark: what are the priorities at the eu summit?ration, the continuous flow of refugees we are seeing from the central italy, thean to trade deal with canada that is currently being blasted by beltre belgiu. and depreciation with russia. theresa may talked about russia on her way in. she said she was willing to add more pressure on russia over the syrian crisis, a way for her to remind everyone that the u.k. is still a full eu member until brexit happens and that she is certainly aware that this is not nogetiation -- prenegotiation. >> it is not about decisions, but i want to underline that the eu should keep all options open, including sanctions. if the crimes continue. a little early for new sanctions on russia over syria according to some countries like austria. more sanctions will require the unanimous approval of the 28th still at the moment eu members. mark: great job. we will see you no doubt tomorrow. battle of the charts next. trump trails in the polls. we will see what investors are skipping of in anticipation of a clinton

scotland and northern ireland voted to stay in the eu. a grown up this relationship will be. let's bring in john stopford, how much more do we need to trade?nto the brexit ofn: there has been a wave optimism that things are not collapsed immediately. things happen with a lag. we think growth will slow with rising inflation. the u.k. is very reliant on foreign money to support the balance of pay. we think the pound so remains vulnerable. it is may be oversold in the short-term. we don't think it will go up much. it could go down quite a bit further. guy: is the risk on the downside? john: yes, and the same with the gilt market. still, inflation will rise. cutbank of england may rates for the but the picture does look at attractive as perhaps it did. there are concerns that the u.k. has a more challenging environment ahead. we are conscious i think on debt in the currency market. guy: what about the equity market? this is priced at the euro. 13.1%, in pounds. people simply focusing on the pounds bit of that. as we discussed, there is liquid

theresa may reminding everyone that the uk is a member of the eu until they exit.hen there was talk about a hard brexit, francois hollande continues that message yesterday. others like donald tusk taking on a more conciliatory tone. i had a chance to speak to the austrian chancellor and asked him if there was reason to be reassured by theresa may's message last night. >> there's a lot of economic connections with russia, it's hard for us, but it's also about values and it makes sense to have a clear statement. >> that was the austrian chancellor actually talking about the decision on russia yesterday. yes, austria does have considerable economic links to russia. that's win concern we're hearing here there brussels. also it was said all options are on the table if they continue to see an aggressive posture from moscow. back to what the austrian chancellor had to say on the issue of brexit, i asked him if he was reassured given the recent nervousness that we heard about this talk of a hard brexit. >> there are negotiation partners, a lot of interests on both sides. s

and the eu agreeing to provide about a third of the funds. afghanistan remains dependent on foreign aid, and 15 years after the us-led invasion, the taliban is researching, mounting deadly attacks across the country with alarming frequency. but the foreign-policy chief was upbeat. to strengthen the progress achieved so far. the to sort the problems country is facing and finally bring peace to the country. >> the eu also wants afghanistan to accept and repatriate failed asylum seekers but refugees say that is unfair and they are being sent back to a war zone. today members of the minority community protested outside the meeting. the president of the world council said she is -- he is putting lives at risk. >> we know that a lot of people suffer in europe. at the same time, we want them .o understand the situation we know it is not easy, but we have to make sure that the people get back there save and the government can guarantee their security and safety. the international community should consider that very seriously. >> he told us a bit more

he said the deal the eu made with turkey should serve as a model. interior minister's comments come after the head of the european union's new border agency called for eu nations deport more migrants were not granted asylum. visit only 40% of people deemed ineligible for asylum are actually sent back. many of those who arrive in the eu are now using the dangerous sea crossing across the mediterranean to north africa. there's little sign that the flow of people will let up anytime soon. reporter: a moment of grief. this man has just learned his son died trying to cross the mediterranean. they bowed his some -- the boat his son took, more than 200 drowned. it is one of many such disasters in the mediterranean. >> we were on the water when we heard about the accident. we went to the scene but found no vote, only people swimming. we pulled them out using ropes -- some of s that we can only them. reporter: fisherman robbie survivors to shore. navy bodes transported the drowning victims. at nearby hospitals, the living right to come to terms with their lo

eu. eu. the canadian trade minister has decided to walk out of these talks, calling the trade deal impossible, saying it's clear the eu at the moment is not capable of negotiating an agreement with a country that actually has european value, such as canada. >> what about brexit and theresa may? that's she seem optimistic that any deals could get done? >> this is a bit of a warning for theresa may. mark ons a question what kind of trade deal she will be able to negotiate with the eu. >> i'm optimistic we can achieve a deal. the deal that is right for the u.k. will also be right for the european union. alix: we will run through more of the key earnings reports. we also sat down with two of the worlds most powerful ceos. brian moynihan and michael dell. straight ahead, we have more top business headlines, including a bloomberg scoop. apple putting the brakes on its project to develop a self driving car. ♪ alix: this isalix: "bloomberg best." let's continue our global tour of the week's top b

labors -- eu neighbors. s the weekend. we will never compromise our values, their principles. above all, keep the unity of the eu. strongly condemning the bombardment from aleppo. hasnited nations panel concluded that a center-lead airstrike on a funeral in yemen earlier this month was in violation of international humanitarian law. more than 140 people were killed in the strikes. the ruling puts more pressure on yemen's fragile cease-fire. >> the sixth attempt of cease-fire appeared to be freshening -- fracturing on thursday. violations. 160 balance,tion in the rather than a reduction. the hutiesies -- leclaire success. this has a large scale airstrikes. >> saudi arabia has a right to be free from missiles being launched from yemen into saudi arabia. to draw call on them back, to draw their missiles back, which ultimately will have to be negotiated within the context of negotiations when they've begin. are waiting for them to show up, to be a part of this process and be there. , what could be a turning poin

a cliff effect as we leave the eu. second thing as i said before an early commitment as early as possible across the eu to transitional arrangements between where we are now, very integrated single market financial services and where we end up to make sure we don't have a cliff effect. make sure there's a smooth orderly transition between the current situation and whatever the future is. >> as part of that early transition the message we hear from banking executives both here ting and those in the eurozone banks is they want the continued financial passport, continued access to the single market. when you listen to teresa may saying a hard brexit is on the way, should bankers be worried? >> so, all the noises we're hearing are worrying at the moment but we should draw a distinction between single member ship in the market, the norway solution where you have to abide by the rulings, have to have freedom movement of labor so it looks certain government will reject that as opposed to having access to the single market. th

the eu is a group of member states and institutions.s life complicated but in the end, the council that represents them, the european commission and the european parliament, they'll have to do this together and they will do it together. is the level of angst or concern? we have major elections in the eu and it is difficult to know which way the election will swing. germany, france and the referendum in italy. and that again points back to the federalism, or not, in the eu. happilye are all living in democracy. democracy means that elections take place from time to time. i'm in new york at the moment and we have elections here. so it is a surprise at all. we see governments change but it is a part of democracy. we know how to deal with that, it's nothing new. is regrettable that the u.k. has decided to leave. but i don't see any other case following. and the eu is a big success story. peace, had years of unprecedented wealth and income development. so it is working much better than it is described in the media. andnly see the crisis prob

they think the eu needs us more than we need them.y, if that isn't the case, they think there's a world of opportunity outside of the eu that we are not exploiting because we are so focused on our european gardeners -- partners. i think they want a hard brexit scenario. francine: there's also one thing. what we've learned is we have a lot of voices at the moment. it is unclear what the plan is. but immigration is not something this country wants to give up. if you look at switzerland, and this is not about the last 20 years, they had a referendum that was overturned because the eu said, no way. if you don't allow our people into your country, you don't have access like you used to. the overturned the referendum. that is a lesson to be learned for the u.k., isn't it? the ministers are saying, at the moment we have free trade. they will have to impose tariffs on trade. it is a fairly simple argument, but one they believe in fervently. matt: there is some difference in services. trading goods, there is no doubt that the tariffs and taxes

says it will start the process of leaving the eu are -- eu by the end of first quarter.nd imf reserve currency will focus in on the world's largest economy. with five weeks until america goes to the poll, what does the row over donald trump's taxes really mean? this is bloomberg. ♪ francine: welcome back to "the pulse." let's get straight to the bloomberg business flash with nejra cehic. nejra: janus capital is recommending a merger with henderson global as it seeks to boost assets. it would be called janice henderson global assets in the firm will be have more than $320 billion in assets. henderson group plans to relocate shares in london. pimco is warning about asian debt. issuance surged 66% from a year earlier to $152 billion. falls near theld lowest since 2007. pimco says asia's credit is rising faster than economic growth and it doesn't expected to leverage. -- it doesn't expect it to leverage. -- aipac ceo says consolidation is good for the industry. juliette saly spoke to him in hong kong. >> in general, we have said that if there's an interest, we are open to ac

guest: this is a big embarrassment for the eu. it is worried about the trade deal with canada advocates say it helps economies to grow. bilateral trading with canada was worth 63.5 billion euros. the pact would eliminate almost all tariffs and products that would trade by 20% if a compromise is found. let's have the u.s. perspective. what is the u.s. perspective? there is growing sentiment that it is hard to reach a deal in europe these days. reporter: the big questions u.s. investors are coming up with is how stable is the european union at all? it's not so much about the transatlantic deal to between canada and the european union, that's not the big concern for the u.s. america is looking a bit further toward the west and that also seems to be unlikely at this point. the big question is how stable the european union is in general. guest: another big topic is the at&t and time warner merger. there is some skepticism about this plan. what are the challenges? reporter: probably the big question is if u.s. regulators will agree on t

the uk will be out of the eu by april of 2019. that means that business lobbyists are gearing up for the fight of their lives to make sure the government takes their wishes into account. czaright before the brexit vote, companies in the uk have different interests. brian quinn has the -- the night vote, companies in uk have different interests. >> we will finish no later thann ththe end of march next year. >> in the wake of the vote to leave the eu, british businesses mobilizing to defend its interests. but as with before the vote, voter interests are not always in line. in financial sector particular finds itself in turmoil as large banks dispute with insurers, asset managers, and other industry groups over who should lead lobbying efforts with the british government. recently set scene a proliferation of lobbying groups as british banks fight to keep access to the european market. specializations -- speculations rise. bankers have expressed frustration that months after the vote they still do not know what brexit will mean for t

there is no fall out of the eu into no man's land.o get into place some sort of temporary arrangement to cushion between leaving the eu and whatever future trade arrangement exists? lena: this is a great point. absolutely. i think the actual negotiation on withdrawal and creating a new eu relationship will take a decade or more. what is important to years or so, if a reach a transitional arrangement that ensures there is no cliff edge, no short-term cross-border trade or capital flow obstruction happening, that is the beginning of -- anna: when it hits midnight. is one perception you're looking at stirling for the 1985 low. have a look. 40.22. i have tenure inflation swaps and the u.k., over european counterparts. and that is blowing out. this sterling is causing quite an immense problem. bloomberg,have a have a look. swaps arising, inflation rising, and i want to get your inflation view. this is the heat map. this is where we go next. where are we in the great debate? inflation is rising. sterling is dropping like a stone. do gilts s

normally in the eu, everything takes a long time.bly on both sides there should be interest to solve this problem as soon as possible. guy: minister, thank you very much. andrej babi, the czech finance minister, following us from luxembourg. we are trading at 1.2287. the u.s. dollar is trading at 171.09. we will come back and talk more about brexit. that story, next. this is the open. ♪ caroline: welcome back to the open. we are picking up a little bit of pace ahead of equity buying. deutsche bank seems to me lighting on the dax, still in the red this morning. the ftse 100 -- i know you are all over looking out for the key record number this morning. let's call it, the intraday high. the reason is a number of factors. first, break down what is happening with the pound. we are seeing a coming under pressure. the cable rate, we are trading at 12286. another leg lower this morning. the market pushing sterling down even more. let's take you to the ftse 100 chart. this is the last month of the bid. we have been going up in one direction.

would have no special relationship with the eu. muchuld deal with the eu as the u.s.stralia does. there's something like norway and switzerland who are quite integrated in the eu while not being members themselves. those have quite different implications for the volume of regulatory and legal change we are talking about. david: we asked the creative director about how he put it all together. economic,ging global energy, retail -- we've heard up this section with the magazines we thought was naturally fit. global economics, we took inspiration from the economist and for retail, we took inspiration from in style magazine. there wasn't a well-known energy magazine, so we paired energy to a fitness magazine aesthetic. is the objective here to mimic it as completely as or get a sense of what the economist looks like? >> first, we tried to replicate it as close as possible. and then we added our own brand. a little more playful and loser. .- looser we look at the magazine a couple of times to make sure everything is progressing well. there was more laughter than there usual

passporting into the eu?legal, technical, and sensible perspective, yes because the most difficult thing when you negotiate a free trade agreement is not so much market access. it is a consequence of regulatory convergence. anna: thank you so much for your time. ♪ warns withissues high risk of running the economy. bullish bets. banks say european stocks are a buy in toy 16 with or without a fed height. 20% afterares jumped international subscribers helped the company beat wall street estimates. ♪ welcome to daybreak europe in london. anna: very warm welcome to everybody. we are getting numbers from corporate to this morning, but also getting a statement from ryanair. manus: you have the burberry numbers. for 1.7 billion pounds for the estimate. total revenue, 1.5 billion. in terms of revenue, that looks like a small smill. miss. the first half retailevenue comes in at 859 million. the estimate was 858 million. in the first quarter, they had a nice boost from sterling. a of people are looking at the u.k. of ba

when it wants to do a new deal with the eu. a new poll has shown that about half of the adults in the u.k. say restricting immigration is more important than maintaining access to the eu single market. manus: the majority of britons support the government's current approach to brexit. patrick joins us. welcome. that saysd that poll, to me hard brexit personified. unitedying around the kingdom is that a fair take? it is only one poll. >> it seems definitely a hard pull from that brexit. seems that is what the general population wants. anna: one part but not in scotland or northern ireland. do you see any way to square the circle which is that part of the u.k. once to stay in the eu and part wants to leave? and still control your borders. i think it is binary. i don't think you will get reasonable access to the single market if you do not allow free movement of labor. there is not much negotiating room there. has a veryn union unified front where as the united kingdom, you have a lot of disagreements from individual countries. ma

is the eu likely to say yes to that? what do you think? >> i don't think so. although most of the countries have basically on the same level of thinking about migration quotas in the e.u. slovakia, poland, the czech republic and hungary doesn't want the e.u. to force these countries to take these refugees and migrants back. they sort of made a plan of migration quotas that is most likely voluntary and not a must by them. they are stating that those countries who are wealthier than the others and those countries who doesn't have the desire, the employment so they would need to take the majority or, let's say, all of them -- all of those refugees and migrants that we're about to send to these countries. >> thank you so much for being with us and explaining that to our audience. appreciate that. >>> india and pakistan are blaming each other for clashes in the disputed region of kashmir. we'll take you to the volatile border area next. >>> after a vote that changed modern britain, the uk is taking a first official step towar

>> it's still part of the eu -- >> how does that work?hey're trying to negotiate their own exit, why should she participate in european wide trade deals. >> if the eu signs a trade deal tomorrow, britain is a part of it until they leave. >>> donald trump and hillary clinton are blitzing battleground states today getting serious after some laughs. we'll have that next. >>> as we head to break, here's today's national forecast from the weather channel's reynolds wolf. >>> good morning. let's look at that forecast across the country. if you happen to be in the east, wow. showers and storms on the way. with it maybe some thunderstorm activity, new york with 72 degrees, chance of scattered showers and storms. not as much moisture in the deep south, which is unfortunate a lot of the southeast mired in drought. 73 in dallas. beautiful day in denver, 75. the heat continues to build in los angeles. going with a high of 90. pacific northwest looks lany at times, 38 degrees, chance of showers. and in bismarck, partly cloudy, 65 degrees. two-thirds o

, how would they negotiate a trade deal with the brexit and the eu once brexit happens?feel about that? >> you have to go into it thinking no real -- they are good people now. because they are asking big questions how the european union works. so really, they are going from the zero tariff and trying to build things up if they can. but i think it just disappoints that free trade is a thing. politics is a problem. >> when you look beyond the pound and beyond euro dollar, are there other currencies striking your interest? especially when looking at the trade effects from this lower pound. are there other opportunities out there? >> i think the swedish crona is doing well. i think sweden really and truly should be near 9.20 or 9.75. we have a bit of a dollar down at the moment. the u.s. fraccers have a lot of money invested. i think the world is difficult. after last week's bsa meeting, they are not going to cut rates any time soon. >> well, thank you very much. >>> this is a really cool story. finally after ten months of political debt lock, something is moving in spain. t

questions about the eu and its ability for the trade deal.ting breaking on the court case taking place in london. today was day three, the case incentive on whether theresa may could proceed with her plan, article 50, without the backing of parliament. we're hearing that the bresky -- brexit judge, there are three of them, reserving the ruling in the article 50 -- the judgment will be given as quickly as possible and the hearing has ended after three days in a london court. the ruling will be eagerly awaiting. >> allowing brexit not to go ahead but another challenge to premise or theresa may. the court hearing is about whether to reason may has a right to invoke the article 50 treaty to start those brexit this and the challenge is is something for parliament to decide. matt: is there any chance more litigation or the court giving more, or hinder a brexit? willrhaps not, but they slow it down. if you look at the break of parliament, it was very much the they were pro-remaining or at least a majority were versus the public. this idea that brexi

would have no special relationship with the eu. it would deal with the eu much as the u.s.. as a completely separate, independent country. at the other end of the scale, there's something like norway and switzerland who are quite integrated in the eu while not being members themselves. those have quite different implications for the volume of regulatory and legal change we are talking about. david: the year ahead issue gives a nod to some of lumber business week's competition. we talked to the creative director about how he put it all together. >> far ranging global economic, energy, retail -- we've heard up this section with the magazines we thought was naturally fit. global economics, we took inspiration from the economist and for retail, we took inspiration from in style magazine. energy,er ones, like there is not really a well-known energy magazine, so we paired energy to a fitness magazine aesthetic. so we were playful sometimes, but we are on from a lot of our other sources. david: is the objective here to mimic it as completely as possible or get a sense of what the

s exit from the eu may not the swift as many once thought.oney: terms of gradually removing policy combinations, we look ahead to the minute that the fomc later today. a birds eye view of the economy and politics in croatia. us croatian president joins to talk about a meeting with therese -- mark: 30 minutes to the end of wednesday session. down,quities, the ftse you can see that in the left-hand column. mirror .5%.a -- a mere port -- a mere one half of 1%. on the brexit decision-making process, she wants to keep her negotiating very close. and wein europe are down are awaiting the fed minutes. deutsche bank, interesting news after raising $3 billion. for $1.5bank returns billion, twice what it paid to aro a year ago. mostly the same investors who bought last week operating at a slightly lower premium at 290 basis points. pointsmium was 300 basis compared with 143 basis points. this shows that borrowing costs have risen at deutsche bank. deutsche bank dollar-denominated bonds, and the blue bar is the average yield on bank bonds generally. get

tusk, the eu cannot continue like this. if we look at the list of topics -- topics on the table, sanctions against russia blocked, citaf blocked. then -- been kept dangling for months. we cannot continue like this. the eu is like a three engine plane with one completely broken down. it is still flying and the other 2 are working, but it cannot sell course until the council engine is fixed. mr. tusk, please ensure the european tusk, please ensure the european union will not undergo the same fate as the 18th century as the parliament was paralyzed by veto. toowing every single person -- as a result, poland did not become greater but irrelevant. the council has to take responsibility for the european council as a whole and have to do so soon. not only will our citizens tire of the council, europe is rapidly making itself irrelevant. it has already been mentioned. the victims of the same inability to make decisions are the people in syria. fails, we lose any leverage we might have to stop the bombing. we need a political transi

doesn't dilute itself that the eu owes it any favors. people in china are pleased with their countries global rising power but there also concerned about foreign entanglements. those are the conclusions from the pew research center survey. still, they are worried by u.s. power and influence. global news 24 hours a day, powered by more than 2600 journalists and analysts in over 120 countries. i'm courtney donohoe. this is bloomberg. >> let's get back to deutsche bank. according to an audit commissioned by german regulators, the bank mismarked dozens of trade is similar to the deal done. deutsche bank saying it reached a deal on job cuts. for more, we are joined by the u.k. bloomberg finance team michael moore. i'm taking a look at deutsche bank share price. slightlyading down now. how has the news flow been feeding into this reaction from investors? >> part of it is these trades back in 2008 and they had to be brought onto the -- brought onto the balance sheet several years ago. it's more of playing into the sphere of the complexity of th

what happens the day we leave the eu?ink the treasury should pay for continuation of the current relationships until the new trade deal cut -- kicks in? >> we do want transitional relationships. we have to have something that bridges whatever we have now and when the new deal is great. we have seen the speculation in the media about that. we would like to see some concrete proposals. anna: we hear lots of reports about fallout around these negotiations and people in the cabinet come from different parts of the argument. howare you talking to and do you view it? >> they are in dialogue with the industry. that is not an issue. it the government will have to set itself up. it has been a unique set of circumstances that they have had to set up new departments and reorient the way the government is working. they did not plan for it but it is now and we do have clear lines of communication. anna: do you have a chance to get your thoughts and views to rs? more prominent brexitee are they interested in talking? >> everyone realiz

they want all eu connection severed abruptly. some just want brexit to go away. are strong opinions on both sides and the prime minister is being forced to take them all into account. the westminster debate was anything but constructive. when theresa may pointed this out, she was left out. -- laughed out. but may was firm. parliament will get to debate brexit but there'll be no formal vote to accept or reject its terms. >> but we are going to do is be ambitious in our negotiations, to negotiate the breath -- best deal for the british people. that will include access to trade within the european market. but the vote of the british people said we should control the move of people from the eu into the u.k.. reporter: according to the london times, the government has issued an internal warning that brexit will cost the economy dearly. daniel: speaking of which, it is time for me to exit. christopher. christopher: don't go too far. a quick reminder of our top stories. the u.s. and russia have agreed to fresh talks on ending the syrian conflict. the move comes amid int

and eu have agreed on one thing. and that its inter-eu immigration is a bad thing. the rest of the eu says no, freedoms have to go together. you cannot have the good parts without the bad parts. can you change the narrative to say the immigration is one of the best? >> would anyone like to -- >> i don't know whether you can change the narrative. immigration is such a powerful paradigm right now. maybe just a reminder how this came about. 2004 the eu accepted 10 mostly eastern european countries. there was a measure to stabilize eastern europe. it was one of those assets of the european union to prove it is a project of peace, stability and prosperity, more than economic clout. many leaders said it is to early to grant them freedom of settle down and exercise their profession. most of the countries agreed to have a transition of seven years . were two countries that did not accept that waiver. they said welcome, they should come. so they came from poland and other countries. it was a self-inflicted wound. later on there was some resentment against the eu immigration.

when we leave the eu, will we still be implementing the eu sanctions or will we, because we have the more robust attitude, move towards a position like the united states and perhaps move towards a magnitsky act or something similar. >> an extremely good question and one i've been thinking a great deal about how exactly it's going to work -- and we've been thinking about it with our european friends because clearly they want us to stick with them in a broadway when it comes to these foreign policy questions. do you do it -- do you have to do it within -- around the table in the eu council or are there other intergovernmental mechanisms that we are going to produce to reflect the new european partnership between britain and the eu that will mean we can do it in a different way. either way i think we're coming out of the treaties, whatever we do will be done purely inter government alley and i think there's going to be a strong interest on both sides to have a concerted approach, but what's interesting is, you know, it might be that there will be scope for the uk sometimes to do things

helping to save -- in a way that the disunited eu, the disunited eu they can't come one a position because some of them are slightly kowtowing to the big ivory importers, what they're unable to do. the eu is actually trying to veto the ivory ban in spite of having a president called donald tusk, ladies and gentlemen. yes, which i think you'll agree is a -- it's an error. all -- all relaunching the cause of global -- as theresa just said in her terrific speech right now, relaunching the cause of global free trade. it's been stalled since the failure of the doha round. i can't -- a few more positive forces in the global economy. the world's fifth biggest economy. taking back control. taking back control. not just of our democracy. taking back control of our borders and of our tariff schedules, in geneva so that we can galvanize free trade, break the logjam and become the new global champions and do free trade deals around the world that will continue the process of lifting billions of people out of poverty. that is why the world needs global britain. and our values more than ever. a cap pain

all six members are leaving the eu on the june referendum. italy holds a referendum on a key constitutional change on december 4. italians will vote on changes proposed to limit the power of the senate. italy's upper house of parliament with the economy stagnating and the minted improvements, he has his route -- has his work cut out for him. he says he will quit if the reform aimed at streamlining government is rejected. the british flash crash trader accused of making $40 billion from his bedroom will be extradited to the u.s. to stand trial. his final request was required -- was rejected by judges in london today. fraudl face 22 charges of and market manipulation. remain the most important partner for the philippines. that is according to foreign secretary, who says the u.s. and the philippines have a special relationship. they are linked by formal defense treaties. mike pence has responded to michelle obama's condemnation of lewd comments the donald trump made about women. in an interview, trump's running mate said he did not understand th

. >> the eu summit is wrapping in brussels, divisions clearly taking shape among eu leaders. canadian trade minister said it looked like the trade agreement with the eu has collapsed, calling it impossible. let's start with canada. what is going on? >> this is a small vision of belgium. less than 1% of the eu population, 3.5 million people, smaller event new jersey, and that is blocking the canadian trade deal with the eu. a few minutes ago, we learned the canadian trade minister has decided to walk out, calling the trade deal impossible, saying that it is clear that the eu at the moment is not capable of negotiating agreement with a country that actually has european values such as canada. >> what about brexit and theresa may? did she sound optimistic that a deal could get done? >> obviously, the sale of the canadian trade deal at the moment is a bit of a warning for theresa may because that puts a question mark on what kind of trade deal she will be able to negotiate. >> i am optimistic that we can achieve a trade deal. i think a deal that is right for the u.k. could also b