many experts believe in you debt crisis could hit had any time that's why the head of the european central bank mario draghi says the eurozone still needs its financial support it's purchases pump newly printed money into the banking system in hopes of raising inflation from the current annual one and a half percent for the banks goal of just under two percent which is considered best for the economy let's talk about that with daniel cope at the frankfurt stock exchange of financial correspondent there daniel what's the euro doing it's a real balancing act for mario drug to ensure it doesn't shoot up and to export has what's the reaction after the announcement. yeah you have and you just mentioned the euro we saw the euro yesterday actually rising and now after this news that mario draghi was just giving about forty five minutes ago we see the euro again falling that's also helping the export business and i guess you can see a very good here and background when the news off the e.c.b. came out we saw again jumping shares here at the blue chip index docs we are now over the thirteen thousand poi

all eyes are on front for today with the european central bank is expected to announce the way forward on monetary policy the euro's climbed and stocks remain flat as traders wait to hear from e.c.b. head mario draghi also coming up the catalan regional government is reportedly about to announce that it will hold a snap elections before the end of the year this is the political crisis continues to weigh on the region's a business and tourism in the region. very welcome to do business the european central bank is meeting today in the question on everyone's mind will the e.c.b. outline a scaling back of bond purchases and if so when will that kick in and since march twenty fifteen the e.c.b. has been buying up bonds to the tune of two point three trillion euros the measure aims to stave off inflation or deflation rather it's helped revive borrowing and spending but there is room for more and that is why analysts expect the e.c.b. to taper off quantitative easing in what's called a lower for longer option meaning it will buy back fewer bonds for a longer period of time but the program its

economists will pour over the european central bank's statement later for clues about the bank's plans is how the markets are looking... lukewarm opening to the session, a bit of a lukewarm day in asia and a retreat on wall street. also coming up... an idea that's got the agricultural industry buzzing. a company in canada is using bees to deliver biological disease control to crops as they pollinate the flowers. we'll find out how bee vectoring technologies is using the power of nature. and as amazon announces a new service to unlock your front door, we want to know, would you give a courier access to your home when you're not there in order to avoid a missed delivery? just use the hashtag bbcbizlive. we were talking about that, alice said, i could let someone in if you needed me to. i would not trust alice! iam needed me to. i would not trust alice! i am onlyjoking of course! welcome to business live. is twitter facing a crisis of confidence? the micro—blogging site is releasing corporate results later — and many will be looking to see if its popularity is waning. this is the number t

economists are on tenterhooks, awaiting the european central bank's policy meeting later. they are not expecting a rate hike, but hoping for clues as to how and when the bank will bring large—scale bond purchases to an end. that makes it one of the most keenly anticipated meetings since early 2015 when the program was unveiled. expectations are the bank will cut monthly asset purchases from the present 60 billion euros — that's $71 billion — and stretch them out for as long as capacity allows while it waits for consumer—price growth to pick up. but are we really at such a turning point? or will it take a long time for markets to "normalise?" with me is vicky pryce, chief economist at cebr. do you think we are likely to see the ecb take down its bond buying programme? not immediately. it will say that it intends to. the expectation is that from maybe january we will see a reduction from the 60 billion euros of bond buying per month. this is of course the government bond buying in the secondary markets. there is still money they are paying buying corporate bonds, of course. w

the mend but experts believe a new debt crisis could hit any time that's why the head of the european central bank mario draghi says the eurozone still needs its financial support its purchases pump nearly newly printed money into the banking system to try raising inflation what the banks goal of about two percent a druggie also wants governments to do their bit let's have a listen in to what he had to say when he met the press mentation of structural reforms you know you are can trees needs to be substantially stepped up to increase resilience reduce structural employment and moved euro area productivity and growth potential. regrettably fiscal policies all countries would benefit from intensifying year forced two wars achieving a more group friendly composition of public finances. this plea from druggy time and again is anyone listening. well this is a really interesting question ben because you know on the one hand you know the end vester is here are saying that this is a clever move that you know this pond purchasing program is not reduce you know from one day to the other it's just you know w

independence could see them kicked out of the eurozone and out of the jurisdiction of the european central banklet's check in with our financial correspondent only vance's standing by in frankfurt really why is it so important for these spanish banks to stay under the jurisdiction of the european central bank. well i think it guarantees that they will survive catalonia declares independence and indeed if the process should go ahead and catalonia is a no longer part of spain but no longer be a part of the e.u. or a member of the euro zone and i think that's the main concern and it would also not fall under the jurisdiction of the european central bank anymore and the european central bank here and his customers and shareholders that there is sound regulation on board the e.c.b. supervisors are looking at the bank to see if they do everything correctly and at least depositors deposits are guaranteed within the european union who knows what any kind of guarantee if there was one in catalonia would look like and last not least the european stability mechanism kind of a complicated word would also n

independence could see them kicked out of the euro zone and out of the us the action off the european central bank that's goes straight to our financial correspondent. who is in frankfurt where the european central bank of course is basically why is it so important to the banks that they should be under the jurisdiction and should stand of the jurisdiction of the e.c.b. . well the e.c.b. ensures that the customers and the shareholders money is safe it provides all the regulation the supervision for the biggest banks and it provides the framework under which the banks have to operate in a healthy and long living way so that the customer's money is protected and the euro is also of course involved with being in the e.u. and in the euro if catalonia were to be not part of spain the banks would lose the euro as their currency and the ability to operate in a normal way with anyone in the euro zone or remaining and there's a lot of business involved there also of course deposits of customers are guaranteed up to one hundred thousand euros if you're a member of the eurozone and last not least the europea

imf meetings in washington a week or so the general consensus from all the central banks, the bank of england, the fed, the europeantral bank, economic growth is gotten to a point where central banks are beginning to return to a more normalized monetary policy. is going to mean his interest rates do need to rise. at aest rates are historically low level, they have been this way from austin decade. it is time to begin to normalize monetary policy and that will mean some rise in interest rates. we think it will be in a way to adoes not challenge significant way the u.k. consumer or borrower. manus: if you set down with mark carney and said i think you should do one and then hold back because of brexit, would that that be your far side recommendation? jes: we will leave the dietary policy to the governor of the bank of england. we will respond to any moves but normalizing monetary policy will be a good thing for the global economy and a good thing for the u.k. and a good thing for [inaudible] manus: setting new targets which assess, for mel as an interviewer, i want to know what that means were dividend policy. you sa

european banks. as you mentioned, mario draghi trying to head for the qe exit, but mario draghi eight emphasizing the centralank will proceed with caution. purposesanuary 2018, are intended to continue at the monthly pace of 30 billion euro until the end of september 2018 or beyond if necessary. vonnie: joining us now is eric. he is joining from our bureau in paris. exit, was thisle taken for purely technical reasons? judging on the market reaction, it's very success. for the ecb a it means another 270 billion that of asset purchases are coming for 2018. but also more than that, it means asset purchases. something that was expected by the market. beat the markethe ecb beat markt expectations. the market could have been happy. less hawkish or a little more dovish. for 2018 we are heading for yet another year of negative net issuance in the eurozone market based on the potential 150 billion in the government markets for the years to come. vonnie: to that point, peter is a strategist in the states and is pointing out that between the ecb and the federal reserve, there is almost $1 trillion last being bought nex

european central bank meeting later this week. stocks opened mixed in europe. train to postelection balance out the half a percent. lauren: facebook wants to unclutter your newsfeed. "fbn:am" starts right now. train 25:01 a.m. in new york. tuesday, october 24th. good morning, cheryl personae. lauren: has a unclutter our newsfeed, they will probably make more money. cheryl: more advertising. lauren: president trump on the offensive heading to capitol hill today to move forward on his agenda especially tax reform to the republican senators weekly policy luncheon. last night to promote the tax plan on hannity where she made her pitch. >> we needed tax code that is good of modern reality of our workforce, including supporting our working families, the majority of which are now dual income, which is why i'm really excited about the realization of a large part of the administration's working family agenda through tax reform. cheryl: she talks about that as well. the house to vote in support of a senate budget resolution this thursday. that would fast-track tax reform

economists are on tenterhooks, awaiting the european central bank's policy meeting later. hike, but hoping for clues as to how and when the bank will bring large—scale bond purchases to an end. that makes it one of the most keenly anticipated meetings since early 2015, when the program was unveiled. expectations are the bank will cut monthly asset purchases from the present 60 billion euros — that's $71 billion — and stretch them out for as long as capacity allows while it waits for consumer price growth to pick up. we'll have more in world business report. is twitter facing a crisis of confidence? the micro—blogging site is releasing corporate results later, and many will be looking to see if its popularity is waning. this is the number they need to beat: 328 million monthly active users. that was the figure for both the first and second quarters this year. in may, the chinese micro—blogging site weibo overtook twitter in active users, 340 million, up 30% from 2016. the once champion of free speech, twitter announced earlier in the month that it will implement new rules to

fascism and they would never repeat that ever again but here is mario draghi who runs the european central bank which is essentially the bundesbank which is essentially the central bank of germany doing exactly the same thing that its predecessors do in the one nine hundred twenty s. that led to hyper inflationary currency collapse and the rise of fascism and their scapegoating their scapegoating r t r show for example rather than looking at you know so the e.c.b. began buying actively from two thousand and twelve what has happened since two thousand and twelve the rise of very far right wing parties the rise of separatist movements catalonia we see in italy that the richest two regions want to become independent as well. and instead of looking at themselves looking at all the evidence and the charts and perhaps what we are doing have some responsibility just like in the past when we. we're you know there are different ingredients in it but it was still a monetary phenomenon that call it that came first and then the fascism and then the insanity and then the humiliation and the crises and the v

car makers today now comrade you have a lot of experience reporting from frankfurt on the central bank the european central bank its chief mario draghi before i come to our next story could you just give me your typical friday face my typical friday face this. friday. one of excess one of excitement and one of relief i think thank you very much conrad who is and that brings me to the next topic every move you make every word you speak even what you wear in some cases it's all monitored obsessive li if your a central bank governor like these guys behind me it's the case the world over especially in the run up to major policy announcements investors are intent on jumping on anything that could give them the faintest of clues about an upcoming interest rate rise or policy shift but can a face move a market research as in japan think so. the many faces of bank of japan governor how he koku road but what's he thinking and more importantly what's he about to say that's the question researchers believe they'll soon be able to answer . but we've proven the correlation between the governor's facial expressi

these price their marial draggy which i thought was interesting jenelle's counterpart of the european central bank the e.c.b. . he's been buying up all those trashy euro bonds like irish bonds i responded from fourteen percent to two percent on the yield on the coupon and only by the european central bank because they played ball with the i.m.f. and they screwed the poor people with the water tax and that's ok in fact euro junk bonds are trading at two point one nine percent versus the ten year treasury which is trading at two point three percent but we're going to get into that in a later episode i do want to say so we're back in the east coast we're off of our great american public image and i've been at the gym on the treadmill and up on the wall they have an m s n b c screen and a fox news screen and it is remarkable because here you have the elite class in america really wanting to shut down our tea and other news outlets and yet they can't see why people don't tune into them why people no longer listen to them and vote the way they want them to vote because you look at it and it's just fille

for new cases of taking action it's losing the quality feel on its proper product and the european central bank says it will ease the pace of its bond buying stimulus program it will have its bond purchases to thirty five billion dollars per month starting in january and my guest weighs in on the phenomenon of the four a one k. plan in america the opt out feature offers and introduce love to a human nature he explained by the above start right now. according to the st louis post dispatch amazon has been granted approval to operate as a wholesale pharmacy in twelve states over the last several months speculation was rife that the online retail giant would enter the field of medicine importantly amazon has kept quiet about dabbling in prescription drugs it never spoke about pharmaceutical expansion and is not responding yet to this story in june amazon announced a fourteen billion dollar acquisition of whole foods and now has plans to sell a smart lock allowing deliveries to be slipped into your home when you're not there . and we've got a vote for a four trillion dollar budget and most likely dr

is it pointing the finger at the european central bank? he is pointed the finger at central bank?rata central bank? he is pointed the finger at a lot of people, including investment banks. they still want to make money and give loans and maybe they have been giving too many. that is what banks do! listen, in the end, it is a typical wolfgang schauble interview. he is quite a spiky character. i was a europe correspondent on the night here was shot. i remember it very well. he is a tough character, a good finance ministerand, as he moves a tough character, a good finance minister and, as he moves on to anotherjob, minister and, as he moves on to another job, can germany minister and, as he moves on to anotherjob, can germany find someone anotherjob, can germany find someone just as good. crows may be useful at picking up litter.m sounds like an alfred hitchcock movie. the power of industrial design from amsterdam said they could award the bird with food every time they pick up a cigarette butt. these could be trained, who apparently are some of the brighter birds... the brighter bir

european central bank will ease the pace of a. bond buying stimulus program it is carefully dialing back a measure that has helped the eurozone bounce back from a debt crisis that threatened to break up the currency union the e.c.b. will have its bond purchases to thirty five billion dollars per month starting in january and keep them going until at least september two thousand and eighteen the bank kept some flexibility in its statement though e.c.b. president mario draghi says that although the eurozone economy is growing strongly it still relies very much on monetary support notably their druggy refused to call their production a taper instead he called it a recalibration. and amazon is expanding it turns out it's been approved as a wholesale pharmacy in as many as twelve states and now it's letting people into your home it's got a new smart lock system which allows deliveries to be left right inside joining me to discuss legal and media expert lionel of lionel media lionel did you hear this news we got late in the day that ama

both are worried about losing access to the euro zone and funds from the european central bank. german companies with branches in catalonia could also follow suit. there are five hundred of them and they've been given this advice. going to expand zones put any potential expansion plans on the move and see bones in the coming weeks and for us to see in its own way this one is about to have a few other locations within the. person on your own to name when you are coming into the market is dicey in the operations been marked to see from central of the total list. the spanish government to madrid also knows this on thursday evening they said they want to make it easier for companies to establish new sites in spain. patients at the european commission is running thin island's government is in trouble for failing to collect taxes from us giant apple. the e.u. competition commission announced that brussels will take ireland to court. year ago the commission decision. requiring ireland to cover up to thirteen billion euros. from apple. however ireland has still not recovered any money n

will european central bank backstop an explosion in yields?nt to understand explosion yields, let's show you that. when you talk about risk, i want to reflect back and this is going back five years. that lets you see what risk looks like. that is what you talk about risk in european bond markets when germany over spain. anna: let's get a bloomberg business flash update with juliette saly. juliette: monarch airlines has been placed under administration and all of its flights have been canceled following the suspension of its air operating certificate. executives were appointed as the administrators to the carrier and the administrators will work with the aviation or authority in the government regarding the repatriation of approximately .ll of the 110,000 customers global construction materials is nearing an agreement to acquire a company according to people for me with the matter. the company could announce a deal as early as this week. the agreement may value it at 750 million dollars. the jim banks john cryan may face pressure from investors

no surprise in store for the markets despite having its massive bond buying program the european central bank is carrying on with the hundred eight of easing today's monetary policy decisions were taken to preserve the very favorable for nancy conditions that are still needed for a sustained return of inflation rates to worst levels. but close to two percent it's a balancing act inflation levels are still below. two percent target rate while economic growth in the eurozone continues to be solid and on going to let the central bank has to deal with was a known problem buying program was started to fight the threat of deflation if we definitely don't have a risk of deflation it but we also don't have inflation that's what makes it so hard for dragging on the e.c.b. . another challenge the e.c.b. president still feels that european leaders have to do more to reform their economies to bolster long term growth and stability. the implementation of structural reforms in all you are can trees needs to be substantially stepped up to increase resilience reduce structural unemployment in your area produ

independence could see them kicked out of the euro zone and out of the jurisdiction of the european central bank and it's not only spanish corporations that are thinking about. protesters on the streets of catalonia are confident they're doing the right thing for their region many think the spanish economy is propped up by catalonia that they're the ones driving it and attracting foreign investors. there are one thousand three hundred active german companies in spain catalonia accounts for almost half of these investors if this small northeastern region becomes a separate country the investments of five hundred twenty german companies would break away in one fell swoop. and if it breaks from spain catalonia would presumably lose its status within the e.u. firms are already alarmed with one trade association already advising german firms to put their plans on ice. and should abandon their own expansion plans at least for the next few weeks to see what happens it's always advisable to seek out other locations inside the european union it's clear for the corporations that access to the here a p and

two big banks in catalonia protected by the safety mechanisms of the european central bank the spanish guarantee fund and the federal government. that's why we don't think there'll be any limits on the money that customers can withdraw. from the. independence for catalonia could have a detrimental effect on the ailing spanish economy to catalonia is the industrial heartland of spain the region generates a fifth of the country's economic output. chinese growth slowed slightly last quarter but at six point eight percent the world's second biggest economy remains on track to meet its annual target. this project typifies the extent and speed of china's growth in just two years time this building site in beijing will house what could be the world's largest airport a twelve billion dollar investment that comes as chinese president xi jinping hails a new economic era all about looking outward. if you. will push forward a new situation of complete openness openness bros progress closing yourself off will inevitably lead to falling behind china's open door will never climbs it will only be open

when they come back, we will talk this major day ahead with the european central bank.♪ at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. i'm alejandro escovedo. you may not know there's a link between certain viruses and cancer. i found out when i was diagnosed with hepatitis c. i learned that up to 65% of all liver cancers are caused by hepatitis b or c. that's why i've partnered with the prevent cancer foundation. getting screened, vaccinated, and treated isn't scary. but cancer is. think about the link between viruses and cancer. to learn more, visit thinkaboutthelink.org. lauren: officials are expected to announce plans to scale back their giant bond buying program. said three gold from "the wall street journal" joins us now to discuss that. they are expected to pull back now, riva. >> investors are in tender hooks. people are generally expect being an extension for another nine months, but about half the rate of

this week saw the delivery of a hockey anticipated announcement concerning the future of the european central bank bond buying program despite extending the scheme until september of next year e.c.b. had mario draghi opted to have the e.c.b. as monthly after purchases from sixty to thirty billion euros today's monetary policy decisions were taken to preserve the very favorable for announcing conditions that are still needed for a sustained return of inflation rates towards levels that are below but close to two percent. deciding on the future of the program has been a tough balancing act inflation levels are still below the e.c.b. as two percent target race on the other hand economic growth in the eurozone continues to be solid for now the markets will continue to be flooded with cheap money though there won't be as much of it as before i mean while the e.c.b. is urging governments to pursue policies to spur growth the implementation of structural reforms in all your account trees needs to be substantially stepped up to increase resilience reduce structural unemployment. euro area productivity gro

want to leave you with what happened with european equities today, a day dominated by the european central bankies cutting the bond buying program to 30 billion from 60 billion euros kicking off in january.this is bloomberg . ♪ who knew that phones would start doing everything? entertaining us, getting us back on track, and finding us dates. phones really have changed. so why hasn't the way we pay for them? introducing xfinity mobile. you only pay for data and can easily switch between pay per gig and unlimited. no one else lets you do that. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit or go to xfinitymobile.com. york,: it is noon in new 5:00 p.m. in london and midnight in hong kong. i am vonnie quinn. shery: i am shery ahn. welcome to "bloomberg markets." ♪ from bloomberg -- vonnie: from bloomberg world headquarters, here are the top stories that we are following. adoptrepublicans narrowly a budget resolution, freeing up the release of a tax bill next wednesday. the success depends on the details of tha

independence could see them kicked out of the euro zone and out of the jurisdiction of the european central bank. quite dramatic developments there let's bring in only about some another frankfurt stock exchange really what exactly does it mean for a bank to be outside the e.c.b. jurisdiction. well the e.c.b. provides safety and security and it provides a not only for the bank itself for the management dependable regulation. rescue plans of the bank goes under but that means a lot to the customers as well and not just private customers like to you and me for example but also big companies they want to do banks they want to do business with a bank that's a guarantee to guarantee to stay in business to say solvent and it can do that with the e.c.b. in the background we know that from the financial crisis many years ago and also the customers deposits of course are guaranteed in the e.u. up to a certain amount and who knows what regulation would mean under catalonian rule and last not least the euro very important for doing business in the e.u. or elsewhere for these banks all right so the wish to

the two large catalonian money institutes are both protected by the safety mechanisms of the european central bank the spanish guarantee fund and the federal government and that's why we don't think there will be any limits on the money that the customers can withdraw. quarterly. the firm's pulling out site turnover as their main reason for departure with spain their most important market they fear a catalan declaration of independence could lead to the country boycotting kettleman products independence for catalonia could have a detrimental effect on the ailing spanish economy to catalonia is the industrial heartland of spain the region generates a fifth of the country's economic output. chinese economic growth slowed marginally in the third quarter six point eight percent isn't all that bad on target for the year as a whole despite that indicating stability the national statistics agency wants of volatility it says the economy is at a crucial stage of restructuring and china's central bank is warning about a sudden collapse in asset prices after so much growth may be opening the economy could he