that would clean up emissions you have occasion to cover diesel and petrol cars sold in the european economic area the period between two thousand and six and two thousand and fourteen companies could face penalties of up to ten percent of their annual turnover. in pakistan inflation is at its highest for over five years imran khan's government was elected in twenty eighteen with a promise to eradicate poverty it's not even been a year but patients amongst average pakistani voters is now wearing thin. inflation is killing us reads this sign is currently running at nine point four percent in pakistan not since november twenty third teen has it been they say high with hefty increases in the costs of food and energy essential is now becoming luxuries for some. music for the public be able to survive this inflation or not we can't even purchase bread with what we have got alone knows what'll become of the poor it has to stop that there's no control anywhere. really. many pakistanis would hope that control would come from imran khan the party swept to victory last july on a promise to make poverty a th

any by a literal memorandums but together make necessary arrangements between the greater european economic area and the economic area of greater china we will take this promise seriously well this tone goes into a bit of a contrast with what the united states have been saying in fact washington has been one of the most stark opponents to the whole bolton road initiative because they see it as a threat to their dominance and here's why because thing is this forum is merely a tiny part of a much larger scheme a much grander vision of beijing outlined its concept for the first time in twenty thirteen and since then it's been all about well investing into global infrastructure into building new major trade routes somewhat inspired by the you once prosperous silk road in fact he's a map showing you two key projects two key trade highways if i may say so that are being developed within the framework over this belton road initiative now when it comes to the united states of course are opposing this but when it comes to russia for instance and russian president vladimir putin he has said today that bas

introduction of technology that would clean up emissions from diesel and petrol cause sold in the european economic area the allegations cover the period between twenty two thousand and six and twenty fourteen it means the auto giants could face penalties of up to ten percent of their annual turnover. for more on this let's cross to the w.'s financial correspondent in frankfurt ginnell it jenelle thanks for joining us give us some more details about what the car maker is a supposed to have done. well this appears to be the conclusion to a years long investigation by the european commission one part of the investigation is to see whether these carmakers colluded to reduce the size of tanks and their diesel cars being the solution that helps regulate harmful nitrogen oxide emissions and the other part was to see whether they delayed the introduction of a certain kind of particle filter in their petrol cars now in doing so they collectively made their cars less clean thus denying the consumer the ability to choose a cleaner car although that technology that exists now remember that the point of competition

any by a literal memorandums but together make necessary arrangements between the greater european economic area and the economic area of greater china we will take this promise seriously this tone goes into a bit of a contrast with what the united states have been saying in fact washington has been one of the most stark opponents to the whole belt and road initiative because they see it as a threat to their dominance and here's why because thing is this forum is merely a tiny part of a much larger scheme a much grander vision of beijing outlined its concept for the first time in twenty thirteen and since then it's been all about well investing into global infrastructure into building new major trade routes somewhat inspired by the you once prosperous silk road in fact he's a map showing you two key projects two key trade highways if i may say so that are being developed within the frameworks over this belton road initiative as for the rushed. leader vladimir putin he's of course here in beijing and when it comes to relations between moscow and china the two haven't really pulled any complements

free trade agreement, it could be a free trade agreement, it could be a customs union or a european economic areaen open since the beginning. we see this in the political declaration. the eu is prepared to begin discussions, negotiations on our future partnership are soon as the withdrawal deal is signed, even before the ink is dry. the commission team is ready to go. my friend michel barnier, a chief negotiator, is ready and i would like to see the same level of preparation on the side of the uk. whether or not that happens depends entirely on the uk. european council has given all the necessary time and space to the uk to take this decision. i believe a no deal on the 12th of april at midnight has become a scenario which looks more and more likely. it is not what i want but we have made sure that the eu is ready to face up to that situation. we have been preparing since december 2017, all we have always known that the logical of article 50 makes no deal a default option. we have known for a long time what the balance of power is in the house of commons. the commission has published 91 notes on

any by a literal memorandums but together make necessary arrangements between the greater european economic area and the economic area of greater china we will take this promise seriously this tone goes into a bit of a contrast with what the united states have been saying in fact washington has been one of the most stark opponents to the whole belt and road initiative because they see it as a threat to their dominance and here's why because thing is this forum is merely a tiny part of a much larger scheme a much grander vision of beijing outlined its concept for the first time in twenty thirteen and since then it's been all about well investing into global infrastructure into building new major trade routes somewhat inspired by the you once prosperous silk road in fact he's a map showing you two key projects two key trade highways if i may say so that are being developed within the frameworks over this belton road initiative as for the rushed. leader vladimir putin he's of course here in beijing and when it comes to relations between moscow and china the two haven't really pulled any complements

k. membership of the european free trade association and european economic area. it would mean the u. k. would remain part of the e. u. single market and retain freedom of movement along brushes citizens to keep the right to live and work in the e. u. and vice vers. mission e. requires a public vote to confirirm any but still possibly pararliament before is implemented this plan got the highest number of votes from an piece last week. and finally motion g. perhaps the most controversial it would give parliament supremacy over the government and offer a series of steps to prevent the u. k. leaving. without deal the government must seek an extension of the deal isn't reached two days before the deadline. if he doesn't agree to not parliament to spend cheese between a new deal -- revoking our school fifty altogether. in the event of revoking our school fifty and kwame would fully to find out what type of future relationship with the e. u. would be accepted by brussels on tough majoritity support in e u. k.. after debating the proposals and peace will be given the bal

us if the talks don't work, can she guarantee the full membership of the single market the european economic area will be an option that will be an offer amongst those option? >> can i say to the gentleman i don't recognize the picture he is painted in relation to these matters. it is not the case that full membership of the single market is only way to achieve the benefits that he has referred to. it's particularly important as a leave the european union that we have care for services, he's right, given the significant extent to which that placeable in our economy. it's that flexibility and maintaining and recognizing the import of the city of london ticker financial services and the risk that is more hit in the united kingdom leads us to see greater flexibility in relation. on workers' rights can i say to them it is not the case that is is the only way to ensure that we maintain and enhance workers' rights in 1910 is vote through single market this is a company isha working. >> booktv has live weekend coverage of the los angeles times festival of books from the campus of the university of south

the talks do not work, can she guarantee full membership of the single market through the european economic area will be an option that will be an offer among those options. can i say, i do not recognize the picture he has painted an relation to these matters. it is not the case that it is the only way to achieve the dem -- the benefits he has referred to. it is important that we leave the european union, that we have that. you are right, given the significant extent to which that plays a role in our economy. the flexibility and maintaining and recognizing the importance of the city of london in financial services and the rest falls here in the united see greaterds us to relation.y in it is not the case, the only way to ensure we maintain what is right for the united kingdom. this is a government that is doing that because we believe that is what is right in the united kingdom. announcer: a live picture from leesburg, virginia where house democrats have been at a retreat the last few days. democratic leaders are set to hold a news conference shortly about their agenda in congress. running a few

but if in other areas of life if economically and politically we are no longer seen as being connected up to the european the rest of the world, it will have a major impact. we prepare —— labour peer baroness valerie amos speaking earlier. after months of protest in sudan, its longstanding president 0mar al—bashir has been removed from power in a military coup. it was an abrupt end to 30 years of his dictatorial rule. a military council is now in charge in khartoum, but there are already questions about how much things will really change in one of the world's poorest nations. 0ur africa editor, fergal keane reports. the revolution isn't over, it simply has a new enemy. the new boss, the general linked to past atrocities, declaring the old boss, president bashir, had been overthrown. translation: i announce that the former head of the regime has been removed and is in a safe place. i announce the formation of a transitional military council that will manage the matters during the period of two years. with a few words he was deposed. in an age when civil society is challenging leaders across africa, the pr

often said, not that we leave the european union but we remain europeans, we have a lot of common ground, for example in the economic areaund there. we wish to bring this to their fully, so we do hope the intensive discussions that are unveiling in london, will lead to a situation by next week, when we have the special council meeting, where the prime minister will have something to table two as on the basis of which we can continue to talk. we want to stand together as 27 and for the very last hour, i can say this for the german side, we will do everything in order to prevent a no—deal brexit and britain crashing out of the european union, but we have to do it together with britain and with their position that they will present to us. let's get more now on that initial report by ethiopian investigators out earlier today. its concluded the pilots of the ethiopian airlines flight which crashed last month, killing all 157 people on board, followed all the procedures recommended by the plane's manufacturers. speaking ina speaking in a capita, the investigator found that pilots repeatedly followed procedures but not able to

europeans. we have a lot of common ground for example in the economic area but also in defence and security issuesing this to bear fully. so, we do hope that the intensive discussions that are ongoing in london will lead to a situation by next wednesday where we will have a special council meeting where a minister theresa may will have to us on the basis of which we can continue to talk. we want to stand together as 27 until the very la st stand together as 27 until the very last hour. i can say this for the german side, we will do everything in orderto german side, we will do everything in order to prevent a no—deal brexit, britain crashing out of the european union, but we have to do this together with britain and with their position that they will present to us. we also said that this period of brexit is further completed by the fact that we shall have european elections this year. we have to prepare for those elections and we both are part of the same family of parties in the european union. we have worked together very closely. we talked about bilateral relations and here i can only confirm w

economic areas. out to 200 miles. when we look at providing that capability -- those capabilities we know our european friends have more systems and ways they can contribute training and educational opportunities. i think the capacity building area is another operational area. i think also where you see this fusion from china, the economic statecraft and security interest and people refer to the belton road initiative and how it has certain security and military objectives tied to it. shoring up our relationships through things like strategic port calls and other types of engagement that gives those individual countries alternatives and conveys to those countries that they have friends, supporters and allies and other ways we can cooperate with one another in that category. shifting now to another area where i think we need to continue our cooperation. that is in the protection of our own technology and our own critical infrastructure. looking first and foremost internally. we have gone through a round of extensive have done studies of our own defense supply chain and seeing where vulnerabilities may be. every country

their china forecast while they revised area is there more upside here than down side if we look at the 2019 revisions that might be ahead in terms of european economicropean economics >> relative to what they have and the market thinks, i think that on average, yes there's genuine space for positive surprise. let me just translate that into the market the market expects the potential for cuts from the ecb. no hikes until 2022, 2023. very cheap euro versus any valuation measures >> growth expectations have tremendously lagged. the improvement in the u.s. and china, i definitely think the scope for the market to rerate the potential growth outlook for europe higher. >> so you say european equity markets are cheap. we know that u.s. equity markets aren't necessarily cheap i know you're not specifically an equities guy, but give us a sense of -- >> even in markets like the u.s. where you are saying basically maybe the fed is being priced in and that has been priced in. there's a lot of rotation to happen in growth stocks. a lot of the growth in parts of the market, but cyclical parts of the market have been underpriced relative to other stuff that is mo

transparent of thestent employment european union's fiscal and economic government framework over time and across countries remains essential to bolster the resilience of the euro areactions economic and monetary union remains a priority. the governing council welcomes the ongoing work and urges further specific and decisive steps to complete the banking union and the capital market union. we are now at your disposal for questions. >> mr. president, you mentioned in the context of regular assessment you will consider whether the preservation requires medication of possible side effects from negative rates. you made comments to similar events at the conference recently and it has marked other speculation you might be on the cusp of introducing a tiering system. i would like to let you know -- i would like you to let us know whether that is on the menu. you also mentioned we will get the pricing of tltro's in the forthcoming meetings. we saw the bank lending survey yesterday. in your assessment, in terms of the loan growth and loan demand, does it give any indication for the conditions that could underpin the incentives for the next tltro? thank you. mr. draghi: to th

economic and policy research in washington, d.c. his areas of research include houses, microeconomics, intelligent support, social security, medicare, and european labor markets. he's the author of several books and his piece "medicare for all is not fanta can i si" was published on cnn's website. he received his b.a. from swaftmore, and ph.d. in economics from the university of michigan. great to have you here. >> thank you chairman mcgovern and ranking member cole. i appreciate opportunity to speak here. i have to say it's a a great honor to be next to ady again. i knew him from prior days when we were in the coalition to pressure the fed to allow more full employment. that was amazing effort that he deserves credit for in addition to his subsequent work. i want to make three main points and say a little about the transition. first i want to say that medicare for all is affordable. that the bulk of the payments should be coming from shifting employer premiums to government basically to taxes. it's not additional money out of workers' pockets. secondly, that the much additional -- that the amount of additional revenue, here what we have to keep

european gloom? antonio: q2 and the second half of the year look a little better. you will have a more economic fiscal stance. probably the big three or four euro areahat will be helpful. the key is to discuss at the beginning, what will trump do with europe if they stop the war with china? well they focus the attention to europe? if he does, could be painful. ,ssuming that does not happen with better fiscal, china will be better, you should have a better second half of year for europe, not dramatically better but better. i tell you, this is a classic example of if you have to ask what is down the road, the chairman of german bayer, we have the fullest trust in him. let's bring up the chart, the bayer chart. the 20 and 30 year excellence of bayer, and let's call this the monsanto rollover and shareholders are not happy. they are relatively happy with starbucks, who did that are then good on earnings. my sundry children are keeping them singularly in business at a select group of starbucks in manhattan. kevin johnson and the 10:00 hour. this is bloomberg. ♪ ♪ viviana: this is bloomberg "surveillance." first quarter profits following 60% at the parent

but alongside iceland and liechtenstein, it's part of the european economic area - the eea.u's members. the bbc'sjohn owen has more on the pros and cons of this option. brexit has no shortage ofjargon. this essentially means that we leave on terms similar to the ones that norway currently enjoys. we'd still be inside the single market, which means we'd share common rules and regulations with the eu, and crucially, eu citizens would retain the right to live and work in the uk and vice versa. the proposal also says that we should negotiate a new customs arrangement that would mirror the existing customs union, under which countries agree to, common taxes on imported goods which would avoid a hard border in northern ireland. they say this would amount to a simple economic relationship which is free of all of the political paraphernalia of the modern eu. critics say the plan has drawbacks. the uk would still follow many eu rules but without a say in writing them, and we would still have to contribute to the eu's budget. accepting the four freedoms, including free movement of peo

well, there's this other thing that is not the eu that is called the european economic area, which wey are not part of the eu, but they are part of the economic area, which is what many people thought they were signing up to in the 705 and 805. my parent5 signing up to in the 705 and 805. my pare nt5 and signing up to in the 705 and 805. my parents and grandparents, that is what they know. so we would be in the single market, but we would be out5ide the single market, but we would be outside the eu. we would be leaving fi5herie5 outside the eu. we would be leaving fisheries and agriculture, leaving the european court ofju5tice and the european court ofju5tice and the jurisdiction of that. we would be paying a hell of a lot less in. so many of the things that whether dividing i55ue5 so many of the things that whether dividing issues the referendum, but we would be part of the economic 5ingle we would be part of the economic single market, which would give us frictionle55 trade. thi5 single market, which would give us frictionle55 trade. this was the model that many of the leading leave

view that we need to stay as close as possible, in terms of economics, geopolitics and security, and my area, foreign policy, to our europeanmore as well. with me now is our reality check correspondent, chris morris, to explain the eu timetable over the coming months and years. there are some big decisions to be taken here for very good reasons, not just whether we want them in taken here for very good reasons, notjust whether we want them in or out and went to doe, and the european elections are six weeks away, which is a big stumbling block. yes, that is the initial demand from the eu, and there is no compromise on that whatsoever. those elections take place across the eu from may 23—26, and the uk has to ta ke from may 23—26, and the uk has to take part if it is still a member state at that stage. if it doesn't, for any reason, then the draft conclusions for this summit say we'd have to leave, without a deal if necessary , have to leave, without a deal if necessary, on june have to leave, without a deal if necessary, onjune the 1st, but even if the uk does take part and uk meps sit in the first session of the new europea