central bank action. there is not a day that goes by, that we don't talk about it, but another big week. the big story will be about the europeanwill be about the european central bank. they're peating tomorrow. the question is are they going to further reduce their asset purchases, quantitative easing? the market spends a lot of time obsessing about this. it has fed into strength into the euro. the european central bank doesn't like currency strength. the question is when we hear the head of the bank tomorrow speaking is he going to stay we are becoming concerned about this? that's what the market will focus on. we are not going to get a taper tantrum, are focus on. we are not going to get a tapertantrum, are we? focus on. we are not going to get a taper tantrum, are we? it's possible. we go back to what happened in 2013 and the market didn't like this. it is a big programme. my guess is they will play it as carefully because they don't want the euro at 120 or 130 and perishing. a story that dropped on the wires from reuters. chinese airlines likely to buy more than #,000 planes over the next 20 years and this is interesting b

a challenge for the head of the european central bank, a decision? indeed.n? indeed. will he make that decision or an announcement of a decision or an announcement of a decision today? that is the big question, i am on ecb watch yet again. we start in frankfurt, where in a few hours' time the european central bank holds its latest policy meeting. the big question — when will it begin to raise interest rates from their historic lows, and start unwinding the massive economic stimulus programme that's been in place since the financial crisis? some say it's about time, but it's a big dilemma for ecb chief mario draghi. let's show you why. the eurozone economy is in much better shape — it's growing atjust over 2% a year. and the recovery is broad, including weaker nations such as greece and italy. prices are also rising. so—called core inflation, which strips out volatile elements like fuel and food, hit 1.2% last month. the overall rate was 1.5%, but that's still below the ecb's 2%. and the recovery‘s partly down to this, the $2.4 trillion the ecb's pumped into

the soaring euro poses a new problem for the european central bank as it debates when to wind down itsve stimulus programme. plus, high aspirations — we meet the pharma chief who's pushing cannabis as the answer to america's opioid addiction crisis. welcome to world business report. i'm sally bundock. also in the programme, the us is said to seek a ban on crude oil to north korea. details in a moment. but first, we start in frankfurt, where in a few hours‘ time the european central bank holds its latest policy meeting. the big question — when will it begin to raise interest rates from their historic lows, and start unwinding the massive economic stimulus programme that's been in place since the financial crisis? some say it's about time. but it's a big dilemma for ecb chief mario draghi. let's show you why. the eurozone economy is in much better shape. it's growing atjust over 2% a year. and the recovery is broad, including weaker nations such as greece and italy. prices are also rising. so called core inflation, which strips out volatile elements like fuel and food, hit 1.2% last mont

the european central bank has everyone‘s attention today as it grapples with the soaring euro and theuture of the eurozone economy. live from london, that's our top story today, thursday 7th of september. a big headache for the ecb boss, mario draghi. when to wind down the massive stimulus programme? there are fears the $2.1; trillion package which propped up the eurozone could be creating a bubble. and tempering trump's rhetoric against north korea. are they watering down trade sanctions against pyongyang? we will get the view from asia and this is the situation in the markets in europe as they open on the up. a lot of investors waiting for that key decision from the ecb. and reaching for the stars. we'll be getting the inside track from a south african entrepreneur known for his passion for democratic technology and a spell on the international space station. so today we are asking what are your astro ambitions? if you were given the chance to go to the international space station, what would you do? just use the hashtag bbcbizlive. hello and welcome to business live. we start in fr

cheryl: a lot more coming up the european central bank meeting today.ill do. a live report from london. ♪ another day of work. another round of all of this. why do you do it? why do you put up with it? it's not just a paycheck. you actually like what you do. even love it. and today, you can do things you never could before. you're developing ai applications on the cloud. finding insights hidden in decades of medical documents. turning social data into new designs. managing millions of iot sensors and monitoring billions of security events every day. so grab some leftovers and get back to it all you engineers, retailers, doctors, bankers, or whatever it is you do - and do the best work of your life. (group conversation) ♪wooooo oo waa ahhh ♪it's a beautiful mornin' thank you ♪ahhh, ah ahhh ♪each bird i'm val. the orange money retirement squirrel from voya. i represent the money you save for the future. who's he? he's the green money you can spend now. what's up? gonna pay some bills, maybe buy a new tennis racket. he's got a killer backhand. when it's ti

this for five years that there's a phony economy a phony market that the central banks you know there was a great hope at the european central bank would not do the same thing the fed was doing to the bank of japan was doing that there was a vestige of the old bundesbank that they were anti inflation that they would never monetize debt and yet they want to have and did it and drag has been doing it and they don't seem to care about it and but the capacity to continue on this game with the bank and switzerland buying back by apple stock and buying assets in the bank of japan buying e.t.f. i mean i hear what you're saying well i don't see why now should this and i mean i can and i can hear the whole another fifteen trillion dollars worth of us going forward so draggy is running out of booms to buy that's one reason and let's just go back to two thousand and twelve though you remember the european debt crisis circa two thousand and twelve. when you had a a greek to your no ten you're no at forty percent ok and it's allensworth seven percent portuguese seven eight percent so you know they had to come in because the the a

growth across the piece, that is one of the reasons why markets are looking to see what the european central bankolicy experiment in terms of negative rates and its own quantitative easing. helpful for angela merkel heading to the polls? she looks to be heading to victory, but it is not used who she wins bid to her coalition partner will be. —— it is not just to her coalition partner will be. —— it is notjust if she wins but who her coalition partner will be. still to come: it's all in the cloud — this growing tech services sector gets bigger and bigger. we ask a tech pedigree boss — who used head up ebay — whether it's all hot air! he has his head in the clouds! definitely. you're with business live from bbc news. i love a cup of tea. i have probably had six this morning. that's water in there this morning. we're buying less tea than we were a year ago, but spending more on speciality teas. that's according to industry stats seen by the bbc today. so are we falling out of love with the humble cuppa? sean farrington is at one tea manufacturer this morning to find out. so this machine turns out 2,

five trillion born port for you it's something you know that they have been asking off of the european central bank here and frankfurt to do but also because of the inflation rate that is not really meeting the gold off the e.c.b. this hasn't been here the case so far i've done your quote in frankfurt thank you so much for that and the u.k. is preparing to offer twenty billion euros toward its brakes to divorce a bill that is according to a report from the financial times london has not yet confirmed this report prime minister to recent may however is expected to make the announcement on friday in florence the e.u. says the u.k. owes up to one hundred billion euros as part of the brics a process the issue is a major source of friction between the two sides the trumpet ministration is preparing to make it easier for american gun makers to sell small arms including assault rifles and ammunition to foreign buyers reuters news agency reports presidents trump wants to shift oversight of international law military firearm sales from the state department to the commerce department the new rules will cut g

lauren: european central bank meets tomorrow.k the massive bond buying program. he's worried about asset bubbles forming. "the wall street journal". what's the thinking here of the possible fallout? >> it the ecb to be in because they sort of fallen between what's happening in markets and the economy. john cryan has a decent paying with a little bit frothy on the market side, especially in the bond market. 9% unemployment inflation and it's not clear it's a good idea on not. most people that i'm talking to traders and investors are expecting mario draghi to start talking about gently easing them into the idea that won't be formally announced until the next in october. >> just looking at the quote for the 10 hilliard yesterday. to .702% a low for the year. what is that about the overall stability in the market? >> when we start the year, everyone was one upping each other with a 10 year yields addicted to .5%, 3%. some people say 4%. we are now where we were in the middle of last year. it shows how things are quite fragile and eve

we have the european sanction bank and test european central bank -- european central bank.a 6/10 of 1% is the stocks. nobody wants to see my messages. financials down by 7/10 of 1%, industrials up 1%. a&p in australia managed a hundred $10 billion. cash market needs of correction. there is a significant uncertainty and market pricing of risk. north korea and other events will provide triggers for correction. .here is no alternative if you get a different in these markets, a worthy death, do you put more money to work with a&p moving 30% of their money in cash? the chart onst do gold there. hold off on the btv we have there. how about we switch on the fly? slightly, i had a guest earlier that said they want low south korean volatility and a low equity and currency volatility. he wants to be a calendar basis. he is happy to look at them on short date calendar spreads. that funds the position for you or indeed takes them in over the end of the year. you are looking at volatility rising, an opportunity to get court spreads away at cheaper options. the gilt market is up and runn

the european central bank and other e.u.horities are stepping in to provide a alternatives -- alternatives. the ecb will publish a new overnight rate for unsecured lending. within a three years, it would complement, not replace, the current. they are not looking for alternatives to missing benchmarks after the u.k.'s scandal. puerto rico is cleaning up from the worst storm in a century after hurricane maria left of the whole island without power. maria followed hurricane irma and left to the bankrupt u.s. tort -- territory facing billions in costs. said hisnor of barbuda island is uninhabited for the first time in 300 years. irma and maria have left the entire population homeless. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am courtney collins. this is bloomberg. ♪ kathleen: a volatile week in the markets. joining us to talk about what happened today, su keenan. you have a lot on your plate. su: we saw the stocks fall from all-time records. go to the close, you

we are waiting on an announcement from the european central bank. some rather important policy decisions. >> the ecb governing council currently meeting in frankfurt. they are expected to finalize a decision on interest rates in an hour. some big names like the deutsche bank ceo calling for rates to rise. it's a decision on when and how to be winding down the central bank's bond buying program, known as quantitative easing. the program has been pumping tens of billions of euros per month into the european banking system for years. by purchasing debt from banks and governments. some predicting the ecb will once again put off that decisions until october. i asked if he thinks that will be the case. >> first of all, there is no need for the ecb to delay it for that long. if you look at the strength of the eurozone come in has improved. the patient is no longer in the hospital, so the ecb can pull the plug. only four months left before the program ends. reticent, theybe will have to make a decision. >> markets are keeping a close eye on all of that. how

if you look at the federal reserve as along the path of this monetary tightening, but the european central banklook out a month, three months, a year, so on and so forth, the european central bank has a lot of catch-up to do. it will help the your coover a long time. >> it's been interesting watching some of the signals from the ecb mario draghi at this last meeting commented a little bit about the strength of the euro i was a little surprised by the reaction in the markets because immediately when he said they would be watching currency moves as a future issue, the euro still picked up ground as it was. it surprised me that signaling i thought maybe the market would take it a little differently >> yes i think the market was looking for more forceful words from the eb president for example, if you go back to jean claude, he talked about the euro and the moves being brutal when it got to 130 i feel that when you look at what mr. draghi said recently, his words were balanced enough that there was not enough to scare the sentiment off in terms of stronger euro >> what has the stronger euro meant f

we have heard the same from the european central bank and the federal reserve of the united states asl. we note in the story that a number of organisations have responded for a quickly. the pound has rallied, sterling rose 12% to $1.34, its highest level in 12 months, just because of this hawkish statement. other observers are saying, yes, maybe we need to raise rates. but in the end, when you look at this story, ijust think it's all about the bank of england probably flying this kite, not really intending to do this, it'sjust this kite, not really intending to do this, it's just about making people realise that sooner or later this has two went. are you as sceptical, or do you think on november we will hear some news —— has to end. it will come very slowly, maybe 0.5%, but nothing more than that. it is actually mentioned in the article that this may have been put out as they feel to see how the market will respond. that's a good way to do it, the front page of the fcx mac growth rates are flat—lining, housing is bad, consumer demand is pretty depressing. you know all about that from

it is not exploding, and that is the backstop you have from the european central bank.r context, where are we on this catastrophe reduction? you make a point about employment, still spare capacity in these economies. --david:f you look at if you look at underemployment, people may be working but on temporary contracts, which includes germany, but also part-time working, there is a lot of spare capacity not in cap sold in the employment figures. -- not encapsulated in the employment figures. they are trying to achieve a state philosophy for the eurozone. manus: you say continue to buy bonds throughout next year. ambition is to taper. that sounds like more of the same. what are they trying to achieve? david: they want it back in a towersish way. tot more do we need to do achieve and inflation rate of 1.5%, going towards 2%? it is interesting, what would be market rather see? people will assume they will still be buying bonds in the second half of next year. anna: how much will be set in stone what they are going to do? how much would they give themselves folks ability? in

ahead to looking tomorrow's meeting of the european central bank governing council amid talk of an eventual exit from loose monetary policy. down two thirds of the percent and the frankfort tax just under the flat line. >> a story of a bookie that didn't know when to fold. u.k. online betting house stayed in a little too long. the company went from a pretax profit of nearly 28 million pounds for the first month of 2016 to a loss of over 17 million for the same period this year. that stems from from setting aside around 35 million pounds for possible german tax bill. also a record fine for failing to prevent gambling addicts from using their site. the committed outrages failings as more than 7000 people who tried to ban them selves from the site were still allowed to play. >> 90 for the business update. you our press review. time to take a look at what's grabbing headlines here in france. details about what's making the papers today. good to have you. the u.s. press is focusing on donald trump's decision to scrap the daca program. >> the new york daily news says it all. dream crushers. the p

you are the former president of the european central bank. welcome to daybreak, certain.d morning -- a very good morning. in 2007.ing you outt time for us to roll the trichet handbook and talk about brutal moves? sayt: first of all, let me that we have both. strong, that is quite that comes out of the great economy in europe which is now very high i have to say. that is good, i have to say. the confidence is very high, highest in 10 years. a lot of positives in this respect. on the other hand, you have a weak dollar and that is part of the issue. clearly the dollar is weak against all currencies, not just against the eu -- not against the euro, i see the same phenomenon. a very complex phenomenon with multiple dimensions, of course. including political ones. manus: the story that you tell is reaffirmed in the data, isn't it? it is strong data. things are recovering. my question to you then would be, should we expect a more aggressive policy maneuver from the european central bank? we saw the governor lift the lid on that concentric just a few months ago. given what you ha

debt ceiling and european central bank soft currency remarks leaving investors with a little about.sry is based in london but joins us in new york. larry, let's talk about the bank.an central how hard did mario draghi really the euro?k down he know he can be more forceful in rhetoric. signaled serious concern about the euro. lighter touch. larry: it's hard to talk down fundamentals are improving. he stated the e.c.b. upgraded their forecast for this year's growth, obviously euro supportive and at the same time he's trying to tight rope between not announcing or taperingition -- tapering decision running ahead the governing council. sizable moveee a in the long term rate markets across europe -- italy, portugal, france, spain -- among the biggest bond movers. interesting that the euro strengthened, he wasn't able to talk it down. but we saw the long end of the curve making substantial moves. larry: they upgraded the growth euro supportive, euro appreciates. that means the e.c.b. is more to delay monetary policy is bullish forh bonds. there could be a problem for the e.c.b. insofar as

. >>> the european central bank could be ready soon as soon as next month, to finally sart scale iing back its stimuo drag growth forecasts for region ratcheti up expectations that it will start to phase out its bond buying program. an end to the stimulus would raise long-term interest rates, potentially impacting the markets, companies, governments and consumers. >> president trump today said a military strike against north korea would be a very sad day for that country. the presid threat to sanction countries that do business wa means chin. we take a look at their economic ties. >> no country cloms close to china when it comes to the amount of business it does with pyongyang. experts calculate that 90% of north korean merchandise trade ish year, total trade reached $5.6 billion, a slight increase from the previous year. analysts say the numbers don't accurately reflect the full story because of u smuggled goods and unclear fuel data. china says it's been fuelling trade and that's reflect nd the most redata. textiles, fish and steel. top experts are machines, car and railroad compone

again, this comes as we head towards the european central bank. say goodbye to negative rates. u.s. ve the advantage because of rising interest rates. banking. is the abc of europe's banking market needs more consolidation. , firsty needs a strategy of all, in terms of banking union. banking markets need more consolidation. interesting comments from mr. cryan in terms of his perspective on banking in europe. him, get more lines from we will bring them to you. let us get a bloomberg business flash. sebastian: hundreds of millions of dollars. you can legally include songs and videos you upload. under current laws, rights frustrating users and risking the lashing. one of the biggest investors has seven ties with the embattled london-based firm. people familiar with the matter, they returned the 27% stake without compensation about two weeks ago. the pr company is attempting to whether a reputational crisis after a potentially divisive social media campaign in south africa. that is your bloomberg business flash. manus. manus: i was just bringing you the pictures of john cryan. he is spea

the european central bank chief is known for his caution.nalysts had been expecting him to keep the edges rates at a historic low, but they have not counted on the possibility of an expansion of the massive bond buying program. >> if the outlook becomes less favorable, or if conditions become inconsistent with further progress toward the sustained adjustment in the path of inflation, we stand ready to increase our asset purchase program in terms of size and duration. correspondent: inflation is the keyword. at one point, 5%, it is still short of the 2% goal. that is despite years of loose monetary policy introduced in response to the financial crisis in 2008. there are not only clouds on the horizon. the measures have had some success. the eurozone economy grew in the last quarter, prompting the central bank to raise the growth forecast for this year to 2.2%. correspondent: and a message of peace from the pontiff aimed at his own home region of latin america. brent: that is right. pope francis has urged colombians to heal the rifts left by d

the european central bank has kept interest rates at record lows and revised its assessment of gdp expansion. the sitting outside fears on economies grow by two point two percent this year. not be the fastest rate in ten years. inflation is still lagging behind the bank's two percent target. not still cause for concern it's one of the reasons the bank is maintaining its constant easing program. pumping sixty billion euros a month injury eurozone economy. site some speculation over the summer the bank would begin backing away from that steals this. our drug he said he would only consider changes in october. this autumn will decide on the calibration o. r. policies through lines. beyond the age of the year. taking into account the expected bothell inflation. and the financial conditions needed for sustatained r ren only flesh on rates. the worse levels. there are below but close to two percent. not relativelyy upbeat tone for mario draghi boosted european markets so green across the board at the closing bell. the firm for tax leading the gains of about two thirds of one percent. was highly vol

the european central bank has raised its expectation of the eurozone economy. economist, capital economics. thank you forjoining us. jennifer, we've been talking for months about how europe is looking like it's adopting a looser monetary policy — but mario draghi contradicted that today by not scaling back on quantitive easing and keeping rates unchange, why is being so cautious? he left the programme unchanged from now, but that had always been expected, really. the ecb suggested some time ago that it would keep buying assets throughout this year. the big interest is in what it's going to do next year. he did hint that at next month's press conference the ecb is likely to announce that it's going to slow the pace of those purchases. there's probably some normalisation in ecb policy insight. it does feel a delayed, though. because given how the economy is doing in the eurozone, a 2.2% best in a decade, why is he being so cautious? well, it's all about inflation, really. you're right the economy is performing very well, and we at capital economics agree with the

highs as investors continued to flock to what are seen as safe haven assets ahead of the european central bank's — as hurricane irma rips through the carribean the financial markets are also feeling its force with insurance companies seeing their stocks fall. with estimates that irma could match hurricane katrinas bill of $50billion dollars — the most of any storm in us history, insurance companies will also face payouts for hurricane harvey tomorrow the european central bank is meeting and investors are looking for clues as to when they might begin to scale back monetary stimulus. the recent strength of the euro will certainly be a talking point. and sports direct chairman keith hellawell has survived a shareholder vote this morning. mr hellawell has won re—election to his post with the support of 53% of independent shareholders. 46% voted against. the firm faces criticism for its treatment of workers and the influence of founder and chief executive mike ashley, who owns 61% of the company. let's get detailed analysis of all of this with george godber, fund manager, polar capital. let us start

well it doesn't look like the european central bank is ready to slow its stimulus program just yet during a press conference on wednesday e.c.b. president mario draghi announced the governing council's decision. based on a regular economic your money tree analysis we decided to keep the key interest rates unchanged we expect them to remain at their prison levels for an extended period of time and well past the. one minute so that purchases well right now the bank is buying sixty billion euros of bonds per month but we could see that adjusted based on new figures during that conference druggy added the e.c.b. raised its eurozone economic growth forecast to two point two percent that's up from a one point nine percent forecast and would be the fastest growth in ten years. druggy also went on to say the eurozone created six million jobs in the past four years and called its recovery robust however the bank trimmed its forecasts for inflation to one point two percent in two thousand and eighteen a one point five percent in two thousand and nineteen as an increase that's below the two percent

well it doesn't look like the european central bank is ready to slow its stimulus program just yet during a press conference on wednesday e.c.b. president mario draghi announced the governing council's decision. b s.

the european central bank keeps putting money into the system. companies are doing better. people are feeling better. when people are feeling better, they can spend more money, which is good for profits. you can buy european companies cheaper right now than you can american companies. >> on that note, have a great weekend, brad, thanks for joining us. >> thank you, you too. >> brad macmillan with commonweal network. >>> the president pushed his tax cut plan today in a speech to a manufacturers group. the president said it will reinvigorate industry, small business, and the middle class. >> this will be the lowest top marginal income tax rate for small and medium-sized businesses in more than 80 years. the lowest in 80 years. [ applause ] and it will be rocket fuel for our economy. >> the president also said the newly-released tax framework would result in the, quote, rebirth of american industry. >>> a new analysis by a nonpartisan think tank concludes that the gop tax blueprint would spread tax cuts across all income groups with the richest seeing the biggest windfall. pre

don't disagree with him in europe my point about europe is do we have that stability that the european central bank has been seeking or in 2012, have we achieved that level of equilibrium and is it, therefore, now time to move rates a little bit i was very carefuling to say i think it should be done cautiously but i do think the market is pricing that in. that's a relatively gentle progression towards more positive or less negative interest rates. >> there's the issue of raising rates and also winding down quantitative easing as well. >> that's right. >> when it comes to the rates themselves, when the cost/benefits, are they still helping the bank >> the rates are not helping the bank i think bond purchasing doesn't directly affect the bank the banks that had problematical loans and assets on their books, it's been helpful when it's high that positive yields have been created by very, very low risk rates. it's otherwise difficult assets without very, very low interest rate environment the purchasing of bonds, obviously at that puts money back into the market that can be recycled into higher yieldin

have started that there is a new role played by the rupee and central bank with the quantity of easing with the new. stance stance of the european central bank and we must the best way our german friends who we invest more domestically and to rebalance it trade which is unsustainable and which is also has been pointed out by the rupee and commission in the last report on germany these are open issues and we must discuss about this issues so he has sat it depends from country to country and what it's actually were had on it i have read this financial reporting new york times on italy a very thorough report and the numbers seem quite sad i mean is it worth keeping the euro in italy if in fifteen years of having it as a currency it has failed to improve its lives economy i mean growth has been literally zero and the economist competitiveness as an export has deteriorated. but i do not i do not take the arab human that you're putting on the table i do not think that the euro has been a failure i do not think that many problems that we have to address in italy derive from europe and this they do i do believe that if you take a cost b

the euro was on the back foot after the german elections — and after european central bank boss mariokers could keep monetary stimulus for some time as the eurozone economy recovers. crude oil prices gave back some of their gains after soaring more than 3% on monday, with brent hitting its highest in more than two years. and here are the details about what's ahead on wall street today. night will be reporting earnings on tuesday, the world's largest sporting make is feeling the heat from rivals like adidas and puma. —— nike will be reporting earnings. also hurting them is the lessening of demand for retro wear. investors will be interested in hearing from the company on its forecast for the rest of the year. also reporting earnings on tuesday is the cruise operator carnival. geopolitical issues will weigh heavily on the company's earnings for this quarter. demand and its biggest markets are coming under threat after the decline of tourism in the mediterranean and the effects of hurricanes in the caribbean. tensions in the korean peninsula are expected to hurt demand in the chinese mar

in europe investors are waiting for european central bank, that happens later this morning, we will have as you see, dax index better than 1%. in asia overnights, markets closed mixed. kospi up better than 1% in korea. wild fire raging in oregon this morning, this photo of people golfing amid the blaze went viral. we have the latest. confederate stained glass windows removed from the national cathedral. the fallout ahead. coming up, amazon's new headquarters, the technology titan launching its search for a second home outside of seattle. how many new jobs are expected to come with that big move. all the stories and joining me to talk about it mary is here, former presidential candidate himself mike huckabee is here and former home depot ceo bob nordelli. >> good morning. maria: a lot on the docket this morning. such a busy news day and we are on the stories importantly the debt deal announced yesterday. we will talk with u.s. secretary mnuchin this morning. you don't want to miss a moment of it. stay with us for big two hours. we begin with eyes on hurricane irma, most powerful storm to

five trillion born port for you it's something you know that they have been asking off of the european central bank here and frankfurt to do but also because of the inflation rate that is not really meeting the gold off the e.c.b. this hasn't been here the case so far i don't you know cope in frankfurt thank you so much for that. the trump administration is preparing to make it easier for american gun makers to sell small arms including assault rifles and ammunition to foreign buyers reuters news agency reports the changes can be implemented without congressional approval president trump wants to shift oversight of international nonmilitary firearm sales from the state department to the commerce department the new rules will cut government red tape and regulatory costs boosting u.s. exports of small arms creating jobs in the u.s. . the historical deal to secure peace in the world is in the making sumi has that news thank you monica u.n. secretary general antonio terrace is presiding over the signing ceremony for the first ever global treaty aimed at banning nuclear weapons more than one hundred twe

european markets will be watching thursday's meeting of the european central bank for clues about how long that bank will continue pumping money into the eurozone economy. wallstreet is trending upwards investors keeping an eye on capitol hill where lawmakers are discussing the country's debt ceiling. up it's report suggested that democrats will indeed approved the measure to increase the borrowing limit. and avoid a government shutdown. in the senate that could be linked to an aid package for victims of hurricane harvey. the house of representatives has already in n the provesa nearly eight bilillion dollr measure of ememergency fund. up for victims of the hurricane earlier this wednesday. the vice chairman of the us federal reserve a stepping down stanley fischer said he was resigning for personal reasons. shortly before his seventy fourth birthday and just months before his term is due to expire in june. the shirt previously served as the head of the bank of israel. departure will leave four of the seven seats on the fed board. date get as the bank begins winding down its support o

uncensored bank with the with quantity of easing with the new monetary stance stance of the european central bank and we must the best way our german friends invest more domestically and to rebalance a trade which is unsustainable and which is also has been pointed out by the rupee and commission in the last report on germany these are open issues and we must discuss about this issues so he has sat it depends from country to country and what exactly were had on it i have read this financial reporting new york times on italy a very thorough report and the numbers seem quite sad i mean is it worth keeping the euro in italy if in fifteen years of having it as a currency it has failed to improve its lives economy i mean growth has been literally zero and the economist competitiveness as an export has deteriorated. but i do not i do not take the air you meant that you are putting on the table i do not think that the euro has been a failure i do not think that many problems that we have to address in italy derive from europe and this they do i do believe that if you take a cost benefit analysis the cos

been elected there's no accountability there's no visibility in its own decisions also the european central bank. and independent institution but at the same time there is no. accountability or way to works this says the situational issues in turn so off for the economy we have the working of the euro which actually has helped more or less only the german economy which has absorbed a lot of money and they have trading surpluses but the countries of the south the are suffering they have a trade deficits they have huge unemployment they have a very expensive europe a euro and this means that the euro zone area and the arrangements have been working more for the strong countries that is to say mainly one year the netherlands and france and less for the countries of the south so i think we need to have many changes in the workings of the eurozone itself and mr euro. has not addressed the main issues that are on the table for the moment. notice if you look at the turn you go to mr a year ago i think it was more appropriate than any of his will ever realize places to speak to you notice maurice a memb

is one of the biggest holders of apple they have half a half a million shares of tesla the european central bank now as the german i corps has asked the e.u. court to review their. quantitative easing program because it's monetary financing which is against the law which is what's happening in central banks are picking winners and losers and influencing the trading in stocks stocks and because detached from economic reality i mean the past two days we've seen a three hundred point move down or volatility is still relatively low we traded below nine nine and in the vix index which we've spoken about many times you know three hundred point move is not a lot because we're still historically near record highs because central banks are coming in and purchasing equities i think you know the whole quantitative easing the federal reserve policy the european central bank the bank of japan and the bank of england this is policy failure and mess and instead of turning it around and trying to adopt a different policy they're doubling down on a bad that is doomed to fail and this will end in a catastrophic l

frankfurt university, the european central bank and nearby hospitals will also be evacuated.icted under eu rules from today. machines using more than 900—watts and emitting more than 80—decibels will be banned from sale when existing stocks run out. 0ur environment analyst roger harrabin reports. some of these vacuum cleaners will be on the banned list from today. they guzzled too much energy. clea ners they guzzled too much energy. cleaners like this automatic bobble 1100 watts. that's too high for new european standards, so this model is on the way out. anti—eu campaign as a europe should have no say in the sort of vacuum cleaner that you buy. but experts say households can save a small fortune on electricity bills if only the least efficient machines can be driven off the market. there is no dispute that eu standards are forcing down energy use and cutting carbon emissions. but are they really worthwhile? the manufacturers claim they are prepared for it. consumers are really not prepared for the performances they will experience from the machines. so will the uk keep europ

the european central bank has kept eurozone interest rates and its bond buying stimulus programme unchangedbuying 60bn euros of bonds a month as part of its quantitative easing programme. but analysts expect this to be scaled back given the eurozone's recovery. uk insurers have won a major victory by persuading the government to change the system used to work out compensation payments to accident victims. the changes to the so—called 0gden rate will affect payments worth billions of pounds. they're likely to cut the amount that victims will receive in compensation payments, but could also result in lower insurance premiums for drivers. more on this injust a moment. and jaguar land rover goes electric. every new car made by the manufacturer from 2020 will be electric or hybrid. it said the first of the new models that would be a fully electric vehicle, is the jaguar i—pace, which will go on sale in 2018. hello — welcome to the business news this afternoon. uk insurers have managed to persuade the government to change the system used to work out compensation payments to accident victims. the

well it doesn't look like the european central bank is ready to slow its stimulus program just yet during a press conference on wednesday e.c.b. president mario draghi announced the governing council's decision. regular each of them is your money tree and now this is we've decided to keep the key interest rates unchanged. we expect them to remain at their prison levels for an extended period of time and well past the whole reason. that purchases well right now the bank is buying sixty billion euros of bonds per month but we could see that adjusted based on new figures during that conference druggy added the e.c.b. raised its euro zone economic growth forecast to two point two percent that's up from a one point nine percent forecast and would be the fastest growth in ten years. druggy also went on to say the eurozone created six million jobs in the past four years and called its recovery robust however the bank trimmed its forecasts for inflation to one point two percent in two thousand and eighteen a one point five per cent in two thousand and nineteen as an increase that's below the two

joining us is our western european central banks leader.ell done with the story and what does it tell us with the mood among policymakers? they began discussions about ending qe, or the pathway to ending to the -- qe. >> they have a lot to do and not that much time to do it. starting next wednesday and thursday, the two-day policy meeting to formally discuss what to do with the bond purchase program and also the context of the wider stimulus measures suggest that there was little chance of a deal in september. the people we spoke to said the complexity of this means you cannot will lie on october 26 either, that means the policy meeting of december 14 may be the one where the final the ghosts, including the pace and size of 2018 gets to be announced. not long before the program is scheduled to end at the end of this year. vonnie: how much choice does the ecb have? i some point it's hand is forced technically? >> only a certain number of bonds that can by and if it sticks to its counsel key, by according to the relative size of the economy,

the multinationals as well as jitters and what could be coming around the corner from the european central bank: we had a expert saying get ready for a rocky start in september, are you expecting the same thing in europe? >> september does tend to be weak kind of globally, between the set and all the jitters around the u.s. debt ceiling, that could potentially have a knock-on effect in europe although evaluation can be more attractive, they do catch-up as things turn around. lauren: we hear you will be off a few days, have a beautiful time whatever it is that you're doing and thank you so much for your time today. >> thanks, take care. cheryl: i think she should visit to us in new york. lauren: did you hear that, riva. making a stop on the tour. thank you, everybody, for joining us. cheryl: i'm out of here, i'm vacation, mic is off. that is it for us on this friday, we are sending in to friend dagen mcdowell in for maria bartiromo. dagen: i had somebody get up and throw it off in midsentence. long road to recovery begins as the waters recede the devastation of harvey in full focus. >> we saw br