is the first cuts in the middle of the year and central banks acting relatively cautiously over the second half of this year. in the context of the europeanbly going get something like three reductions of a quarter of 4% each this year. if things go well and inflation continues to look as if it has been beaten, then we would expect further reductions in interest rates next year, as well. thank you. labour has agreed to pay taxi drivers are hundred and $75 million to complete our class—action lawsuit. this is a colossal payouts that they have agreed to pay, almost 118 billion us dollars, one of the biggest class action settlements in australia's history. hooper was accused of arriving on australian shores over a decade ago behaving illegally, like pirates, according to these lawyers who represented more than 8,000 drivers and they claimed that cuba was not abiding by rules and regulations at the time, but now cuba has agreed to pay this huge amount of money and lawyers for the taxi drivers and the hire car drivers say that this is a significant victory which proves they were right all along. the largest watch database says that the value o

and the european central bank is treating the issue with the utmost caution. compensation and use of ssian assets, fearing precisely the reaction, the response of moscow's reaction, that we we can also do the same with european assets on our territory, as is true. we are ready for this, you can do, let’s say, play back, and what measures, how they can affect foreign companies on business partnerships of foreign companies with russian companies that still exist, there have already been comments on this matter, not so long ago minister of finance, anton siluanov, spoke about this, that we will definitely respond, we have examples in the usa and europe, when the private property of a company was confiscated, or rather private property of companies and private property of our individuals, this is all very individual, we will look at each specific case. those who lead, really lead ukraine and the processes that are taking place in ukraine, they will not allow anyone to change those orders that pass to kiev, and the order is that zelensky’s peace formula for the surrender of russia is witho

looks like it's indicating that the european central bank will, will cut rates in june as well as the said in the us in june and the bank of england a little later in the markets indicating that they'll cut in august. so i think that's too late. i think they're being too cautious. again, they were stung by the mistakes of 2021. so now they're being really, they're, they're really afraid to, to raise rates to cut rates too quickly for fear of increasing inflation. again, i think they finally jump it back, kind of jumped on that because if governments are spinning that line, that hey, we were fighting inflation in a way when it gets in your, as you said, you know, banks have being very cautious about the inflation rates and the very reluctant to declare victory. what to the signs we're looking for from the banks, at least of the woods, the statements that we need to keep an eye on, but to realize that maybe inflation is being beaten at last. well i, i think, you know, obviously if they see principal look, you know, at or below 2 percent, you saw that in switzerland that came in at 1.3 p

and in the majority she leads male teams, that in the international monetary fund, in the european central bankhe works now, i believe that in almost all countries of the world, talents, energy, strength, confidence, due to the fact that women are not fully employed, that they... are not paid extra, that they are exploited and often discriminated against. i'm with i say this with great regret, but this is a complete waste of talent and strength. i will continue to try to find out in all the countries where we work how we can encourage women to make a greater contribution to the economy, so that they are respected, not discriminated against, and can make full use of their knowledge and strengths. yes, the scale of activity of the first vice-president of azerbaijan mehriman aliyeva is simply enormous, yet she pays the closest attention primarily to issues in the humanitarian, social, cultural spheres, which is beremankhan’s favorite brainchild he is heydar aliyev, one of the most authoritative... how the president must constantly answer, and this constantly makes me think about other women in the

the head of the european central bank, christine lagarde, said: “ the eurozone economy remains weak aspending and save money. the domestic market is falling and exports are declining. european goods are not being bought. against this negative background, the european central bank lowered its forecast for eurozone gdp growth in the twenty-fourth year by 0.2. the complexity of the eurozone is hitting family companies at the core of the german economy, as bloomberg writes, in germany there is a reduction in the number of such legal entities, they could not withstand the pandemic, lockdowns and the energy crisis against the backdrop of sanctions against belarus and russia, the notorious german punctuality was also under attack, deterioration economy in germany led to massive delays of german trains, in the fall... the worst schedule delays in 8 years were recorded; almost every second train was late. interestingly, despite mass strikes and disruptions in traffic, the top manager of the german railway operator dolci bahn paid themselves the most record bonuses of 5 million euros for their a

welcome back breaking momgs bank of england following federal reserve european central bank lead interestnd made surprise rate cut this morning swiss national bank cutting interest rates 25 basis points the federal reserve left unchange yesterday fifth consecutive meeting 10-year yield pulling back, and we are looking at the yield now sitting at 4.23%, down four base the fed raised gdp inflation outlook for theier on stronger economic growth it said did project three rate cuts this year, federal reserve chairman jay powell said rates will not return to lowest levels, however, watch. >> our policy rate is likely at its peak for this cycle and if economy evolves broadly as expected will lime be appropriate to begin dialing back policy restraint at some point rates will not go back down to the very low levels that we saw where, all around the world long rates at or zero in some indicates i don't see rates to that level but tremendous uncertainty around that i don't think we really know whether a bump on the road or something more. >> joining me former federal reserve board nominee independen

the european central banks makes its latest decision on interest rates today.ing it to keep the cost of borrowing steady at 4% — which is a record high. but the big question is, will there be any hint as to when rates might start to come down? sylvain broyer from s&p told us what he's expecting. it's far too early for the ecb to cut rates this week. the door will open later this year, but for now it's too early. inflation is still above target, especially core inflation. wage growth is still more or less at peak 4% to 5%, far above productivity growth in the eurozone. the labour market is strong. activity is improving. geopolitical developments in the red sea exert upward pressure on prices again. and we'll see that later probably this year. the door will open this year for the ecb, but probably not before june. what would be probably in sync with the fed. what the ecb really needs is more data evidence that wage growth is moderating and we will not get that statistical evidence before april—may. so probably there is a small chance that the ecb starts cutting r

as the economy struggles — pressure grows on the european central bank to bring down the cost of borrowngm its record high. plus — turning over a new leaf. fewer than half of uk kids say they enjoy reading. can world book day help them start a fresh chapter? hello and welcome. any parents watching, you haven't got an outfit ready, you have a few hours for world book day. we start here in the uk where business leaders — bankers — households are weighing up what is likely to be the chancellor of the exchequerjeremy hunt's last budget before a general election. the backdrop — a flat—lining economy — millions struggling with the cost of living — and polling indicating the conservative party is lagging far behind the opposition. not to mention financial markets on edge for anything that might worsen the uk's finances. the memory of prime minister liz truss�*s disastrous tax cutting budget no doubt not far from mr hunt's mind. so let's remind ourselves what he came up with. the rate of national insurance paid by employees and the self—employed, will be cut again by 2 pence in the pound. that co

that could give the european central bank more of the evidence it needs to start cutting interest ratesad zangana is senior european economist at schroders here in london. welcome to the programme. 2.5%. is that what you were expecting as well? ~ ., that what you were expecting as well? ~ . , ., , well? we had figures released esterda well? we had figures released yesterday from _ well? we had figures released yesterday from the _ well? we had figures released yesterday from the biggest. well? we had figures released - yesterday from the biggest economies across the eurozone and it did suggest that there will be a further fall in inflation but probably not quite down to 2.5%. there has still been small increases in energy costs, especially in germany which may be a figure of around 2.6%. the ecb has signalled that even if inflation slow, that is not all they are looking at. they are also looking at wage growth. what do you think is the right path for rate cuts in the eurozone?- think is the right path for rate cuts in the eurozone? they will not no hither cuts in the eurozone? they will

position, they need decide to move earlier on their cuts, a similar picture in europe from the european central bankbout optimism, isn't it? a business, all of us looking ahead and thinking, do i feel better off? do i have more money in my pocket? that is a problem because of inflation. . , that is a problem because of inflation. ., , ., inflation. certainly, the degree of inflation. certainly, the degree of inflation we _ inflation. certainly, the degree of inflation we saw, _ inflation. certainly, the degree of inflation we saw, double - inflation. certainly, the degree of inflation we saw, double digits, l inflation. certainly, the degree of| inflation we saw, double digits, is a real pernicious effect on the economy and sentiment. the fact it is coming down... and price levels are so high, that is not yet away from that, but the rate they are rising at is coming down. the cost of living squeeze is very apparent on the uk and other economies, but there are signs that there is light at the end of a tunnel now with inflation coming down, and importantly, wages rising faster. we are seeing real wage

unlike in the united states for the european central bank, he has been careful not to let expectationnd. yes, and there is _ expectation get out of hand. yes, and there is a _ expectation get out of hand. yes, and there is a notable _ expectation get out of hand. 1a: and there is a notable difference in the tone that andrew bailey has been using in recent months compared to the fed and christine lagarde have been doing, but i think there was a bit of a shift in tone today and in some of his recent speeches. whilst he said the bank of england was not ready to cut rates yet, he did say there was progress made in inflation and the fact those two voters voted to keep interest rates on hold, even the most hawkish members of the bank of england and acknowledging that there has been some gains in the war against inflation so the bank of england really is just the latest in a line of central banks to say we've got inflation but we are winning the war. it got inflation but we are winning the war. , ., ., war. it is worth underlining that whatever the _ war. it is worth underlining that whateve

are telling us that inflation is coming down, coming down, actually, more rapidly than the european central bankgo. inflation is still above target. the ecb has a target of 2%, as you mention. the headline rate is running at 2.6%. the ecb really wants to seek confirmation at price pressures are continuing to fall before they consider seriously cutting interest rates. in other news.... the world's largest watch database says the value of stolen luxury watches has surged in the past year to $1.9 billion. the watch register, based in london, says its database of lost and stolen timepieces has more than tripled over the past 12 months. it said luxury watches become a currency for criminals, who often traded them across continents. the oil price has hit its highest level in over four months today. brent crude has gained 1% to just over $86 per barrel, the highest level since the first week of november. oil prices have been slowly rising on the view that supply was tightening, with the risks heightened by further attacks on russian energy infrastructure. this easter you could be in for surpise at the

reported that at a meeting of g20 finance ministers, representatives of france, germany and the european central banky are afraid of such a development of events, since moscow’s retaliatory actions could hit the global financial system, the euro as a reserve currency. let me remind you that about $300 billion of russian assets currently remain frozen, most of them in europe. that's it for me. that's all for now, holiday discounts in a magnet, borilla 799, well, debts on credit cards are hanging, interest is accruing, you need a loan, take out credit cards, transfer the debts to the loan, divide them into 24 months, conveniently pay them off, make purchases or get rid of it for a long time? using credit cards is easy with holva on avito, inspiring sale of electronics and discounts up to 70%. previously, the temperature in the workshop. i was outside , they were freezing in winter, they ran to the stove to warm up, now it’s comfortable and people don’t get sick and productivity has improved, and now where are these, in memory of gifts, hundreds of languages ​​of cultures, millions of people, viruses re

are now really spying interests great cuts on the rise and even though the federal reserve, european central bankat all of the prices are really heading to where we want them to be. but the door is certainly now open for rate cuts and we had a surprise rate cut yesterday from switzerland. that was the spring started before a summer mean course of rate cuts. that's lifted markets and at the same time you have this wave of ai enthusiasm backed up, micron is example shares rose 14% after sales beat expectations again and it is in the solutions for storage and memory and so there is a lot of demand for its services, as companies around the world gear up companies around the world gear up to try and integrate ai into their companies. tell up to try and integrate ai into their companies.— their companies. tell me a little bit — their companies. tell me a little bit about _ their companies. tell me a little bit about reddit - their companies. tell me a little bit about reddit and l little bit about reddit and their appearance on the stock market but a quick background? reddit, as many people know is a s

first of all, the europeans — especially the european central bank and the financial authorities of theizing that frozen assets because they are afraid that other countries from outside of europe and the western club will be extremely reluctant european—elimiated assets. and that might hit the european economy. and another issue is europe is not in a state of war with russia. so, that would raise questions and might even, as some europeans say, damage the trust in the european legal system. on top of that, there is an issue of, i would say, financial hostages — those are the european companies who are still active in russia. for some of them, it was a choice but for the vast majority of the foreign companies in russia, it's not a matter of choice. they are unable to sell their assets. if all that is nationalised, several big european companies would face bankruptcy. and then, the european governments will be forced to save them and spend a huge amount of money on bailing them out. and, at the end of the day, that would damage their ability to help ukraine. well, america's keen on doing

you're transferred to the sources, think of gemini from the bank and the european central bank for us to come up with . also welcome to scott, very cautious about the left of seizing or using russian assets because of a few schools. and we more than that's your best response from moscow that's russia can do the same with your pay and assets on his retreat. we've prepared to finance the is russia probably more able to mirror such actions and how will that on the combined impact west and companies and the relations with russian companies which are, which still exist to this day? we look at them 30, we have done that have already been comments and thoughts regarding this topic, the minister of finance, and i'm seeing a lot of said that we will respond to such actions. we also have the possibility to refuse the story town, which is the model is only about to get the assets held by the western act as in russia, which have been frozen. this is in response to the freezing of the russian foreign countries us this to be super support from so there is no doubt that such steps will be reciprocat

what could help in 2025 is lower interest rates on the bank of rate cuts by the european central bank. hopefully more favorable, global, and become a good environment that should also help boosting exports out of germany to, to the rest of the world. and we should also see a civilization of the real estate market, which should also kind of push up the german economy again. but when you look at the structural weakness, i don't think that we're going to have solve the structural weak. this is by 2025. we will see growth returning, but it will only be mega growth, even in 2025. are you looking to berlin to political berlin, for any help to turn things around in the near term? it's the of course the natural reflects so many economists always calling for the government to help when we look at the we see good initiatives, but the magnitude has been far, far too, so to small and, and it gave them one compared to happening in for it in that this coalition, you know, is in, in, in lot of controversies, i don't expect too much breakthroughs coming out of for it in a bit of freight that we will

the european union. the confiscation of these assets is a huge risk, yes to them says the european central bankd they are afraid to take these risks, so in the coming years it will simply lie frozen, and maybe with decades, decades, yes, and we literally still have time to talk with you, who should make decisions about it, who is responsible for everything well, here's the last word, well, the european union, you know how difficult decisions are made there, they all have to take them one by one, so since this is a decision of the european union. then the final european commission is there, but all the bodies of the european union must speak in favor. thanks for the conversation, analysis, serhii fursa, stay in touch with us. thank you very much. well, they no longer come to europe, they provide assistance to ukraine in order to delay a potential war with russia as long as possible. and more and more often there are statements about the transfer of the european economy to military lines, analyzes the senior research associate of the atlantic council. we say we want peace, but that means we have

they can always seize your assets, use the profit he's in the european central bank before set that season. ross and assets will undermine confidence in the your current c, n e u markets. but apparently now joseph, where else as well they're, they're back in the plan because it's only the prophets that we're using, but the message and the idea that they're sending through the world is exactly the same. this is again, another message we're hearing from experts. be careful when you're doing things like that, the sure of the global kind of so you can actually go further and use ease finance or power to actively influence international developments. but the spyware must be used wisely. because when i think it currents may stimulate dimensions of alternatives, and unless i forget that russian courts can always with holly aids because that's a company that holds the majority of the frozen russian assets. the euro clear in belgium. well, actually, right here in moscow, they have the national securities that add up to 33000000000 euros. so russell could retaliate and then sees their assets. so we'

stuck on hold — the european central bank keeps the cost of borrowing at a record high.ld there be a glimmer of hope that interest rates in the eurozone may be on the way down sooner rather than later? as expected, the central bankjust announced its keeping just at a record high of 4%. but it also stressed that inflation is on the way down and could be lower than expected this year. for more on this, joining me now is jackie bowie — head of europe at chatham financial. jackie, thank you forjoining us. how encouraging is this news about inflation? we how encouraging is this news about inflation? ~ ., , ,., how encouraging is this news about inflation? ~ ., , , , inflation? we have seen some pretty ositive inflation? we have seen some pretty positive news — inflation? we have seen some pretty positive news on _ inflation? we have seen some pretty positive news on the _ inflation? we have seen some pretty positive news on the inflation - inflation? we have seen some pretty positive news on the inflation story l positive news on the inflation story for most of this year. int

according to the former chief of the european central bank, the e you needs to invest and enormous amount of money in a relatively short time to deal with the deep challenges the blocks facing. we are living and extremely difficult times, and immediate action is needed to prevent even greater challenges in the near future. firstly, a commitment of 0.25 percent of g d p from each e u member state to arm ukraine would be sufficient to ensure that it can win this war. but the 3 pillars, the e. u has relied on energy from russia, imports from china, and the us defense apparatus don't appear to be as solid as before. why? while the us drive the you into the war and into sanctioning russia, which restricted their main energy source, and with the north stream pipeline explosion, it force europe to buy expense of us produced energy gas and asked to union searches for more money for ukraine from under the couch you commission to you, 1st of all up under land has propose it's time to punish russia and confiscate their frozen assets to buy more weapons for cabs. it is time to start a conversation ab

it's gone to the european central bank, for example, who had initial, who, who still has some reservations about making views of these proceeds. whether or not all those questions have been exhausted and indeed onset remains to be seen. but for now the commission is confident of its plan. as to the principal of e. u. member states agreed that they would be using these proceeds to help a crane. and now the commission has made its allocation to say, let's take 90 percent of those proceeds for the war if it's and 10 percent for budget support for ukraine. that's right. the foreign policy chief is suggesting 90 percent should go to a military fund. do we know what member states think about this? so we know that a number of them are. 7 in support of the idea, especially because of the situation that ukraine finds itself in now that dwindling resources to 5 tools that russian invasion, i have to remind you that the u. s. a. congress is still holding up that ministry aid package. so there is really concerns about additional military aid for ukraine being urgently needed and not being available. s

one of the most important speeches of the year for the head of the european central bank. june is the most lovely for the first cut to come through from the ecb. first is the fed decision. there are economic projections. the press conference from jay powell had him sounding relatively dovish in this community hearings. we reiterate with the dot plots being adjusted. that is 6:00 p.m. u.k. time. meanwhile, reddit is set to press one of the year's most costly u.s. ipos. that is later today. they said they would raise as much as 700 care $740 million. they are on the u.s. stock exchange thursday as a symbol of the ddt. you can get around up of the stories you need to now on this today's -- on the stairs edition of daybreak. d.a. why bigo. today we are looking at a bloomberg script on some of the supplies while becoming through on the u.s. of administration. a crucial store in terms of the supply chain around semiconductors in china. in the ability to move up in terms of value and sophistication. that is one of the key stories on the list. also the details and the buildup in t

central banks, as global inflation eases from record highs. such as the us federal reserve where interest rates are at 5.5%, and the european central bank with current 4.5%. some institutions, particularly in emerging markets, have already started cutting rates — such as china where one of their key interest rates dropped to 3.45% last year. and the battle against inflation is working according to the swiss national bank, who on thursday cut interest rates to 1.5% — the first to do so among the major central banks. however, as inflation is still above many other central banks�* targets — which in most advanced economies is 2%, including here in the uk — policymakers warn it'll be difficult to meet that target. so, with higher prices globally, many are still feeling the pinch in their pockets. so how does it affect mortgages? let's speak to homeowner ben howard in bristol, who expects to see his mortgage payments double. thank you forjoining us. we've just given you a load of figures, it all sounds very technical and financial, but just tell us what this means when you heard that the interest rate level was going to remain unchanged today, what does

central bank like the u.s. and the fed where there's room to cut. you have the european central bank where there's a need to cut. more developed economies are joining that. you have the central banks rating to cut. there has not been this level of divergence. i think it's a great asset class for me. haslinda: how do you best trade a divergence? robert: you want to take -- >> you want to take more longer duration in the economies. australia will join england. he want to take more duration. you want to expect the rates to come down and fiscal financing is there but not as much. you'd just enjoy life. haslinda: we are talking about trillions of dollars. it varies. when you see that money being mobilized, what would that take? >> an actual rate cut. the money that is sitting in the money market, the need is based on the short end of the curve. that does not change until the fed starts cutting. once the fed starts cutting, you start thinking about the reinvestment risk. we've seen some mobilization of that money into the fixed income and other assets. but i do think that actu

they european central bank will be easing policy for a straightforward reason that growth is extremely the euro zone as avoided a technical recession by the skin of its teeth, but the underlying health of the economy is extremely weak, and that is doing the job of getting rid of inflation. whereas the fed is cutting much more from a position of strength that the u.s. economy continues to be solid. we have had this strong supply-side environment which has allowed growth to be strong inflation to fall for much of last year, so the fed can be taking its foot off the brake even as growth stay solid. haidi: luke, great to have you with us. coming up with asia's earning spotlight shifting to an of, we will be discussing how apple's china woes could impact those results. this is bloomberg. ♪ at ameriprise financial our advice is personalized based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice... i can make this work. that seems to be universal. i can make t

as the economy struggles — pressure grows on the european central bank to bring down the cost of borrowngwelcome. any parents watching, you haven't got an outfit ready, you have a few hours for world book day. we start here in the uk where business leaders — bankers — households are weighing up what is likely to be the chancellor of the exchequerjeremy hunt's last budget before a general election.

. %, as -- 4.2% federal reserve pick off that meeting european central bank policymakers likely cutting against inflation in site according to ecb, bank of japan, give your take on central banks of the world what happens next. >> a very, very diverse world here in the united states we have clearly sticky inflation, our point that is unless we do get a very clear slowdown in the economy recession in the economy increasing unemployment rate we think, that was postponed fed rate cuts in 2024 if our outlook unfolds and higher unemployment rate indeed that does mean inflation will slow sustained basis -- i think a little early to come to that conclusion given what his perceived results in inform in the u.s. economy europe, it is unfortunate germany practically driver you european essay is a major headwind the european economy stagnant growth, in are '19 not very productive if anything wage costs way too high, strong unions, and so the margins that has postponed. cb easing we do expect to see, we expect to see ecb easing but because really, really, in a very bad place. how much going to ease