the government offers to substantially increase its offer to the european union for brexit.could pay between £35 and £49 billion. good morning, it is wednesday 29 november. also this morning: the children with autism being let down by the system. half of parents say they have waited more than a year for the help they need. it isa it is a fight. it is a constant fight. you

european union has now emerged from that crisis, or is it still in the middle of it? well, the last years were not easy for the european union. that's obvious. but i think brexitther incidents were a wake—up call for the 27 member states, and i believe the european union is now facing towards a better future, and you can also see in the recent polling that the approval rates for the european union membership is going up in the 27 member states. a strong europe needs a strong germany, and right now, of course it is short—term, but right now there isn't even a real german government, and no clarity about what that governing coalition is going to look like. that is a problem, isn't it? yes, but this happens after elections. the german voters decided about the composition of a new german parliament in september. now we are busy forming a new government. it will probably be a four—party government, with the cdu, the csu, the liberals and the greens. hopefully the coalition negotiations will be concluded before christmas. i hope we will then have a strong and stable government in berlin. well, it will not be as strong and stable as people anticipated. that is clearl

will be a crashing out brexit, a no—deal brexit, because the european union would give ground on giving more than 20 billion. a wto brexit is a very good brexit fortitive protectionist customs union that makes prices for british consumers higher and basically protects inefficient continental european industries. a wto exit saves us a vast amoun tof money. it means we get a long way to meeting a commitment that was... the wto brexit you are talking about is a fantasy. do you know, actually, how many countries the uk trades with at the moment on wto rules? 57% of our trade... 2a countries! ..but 57% of our trade is not with eu countries. but most of our most important trading partners in the eu bloc. if we have to renegotiate... no, you misstate the deals. most of those deals are joint competent steels that we have agreed to individually as well. most of those deals, the counter parties have indicated that they are happy to continue. well, clearly, you're not reading the same things i'm reading. well, i'm really the details. because all sorts of experts on trade and legal issues say that the idea we can simply revert to wto rules and expect our tra

the government offers to substantially increase its offer to the european union for brexit. the bbc understands the uk could pay between £35 and £49 billion. good morning, it is wednesday 29 november. also this morning: the children with autism being let down by the system. half of parents say they have waited more than a year for the help they need. it isa it is a fight. it is a constant fight. you wouldn't think you would need to fight so much for something that you should be able to access so easily. the murders of lin and megan russell. lawyers for the man convicted of killing them say they have uncovered new evidence that could prove his innocence. there are big plans to change our railways to ease pressure points for passengers. we will be speaking to the transport secretary about the details. good morning. in sport: england's women maintain their perfect start in world cup qualifying, super sub fran kirby scoring with her first kick of the game, in a 5—0 win over kazakhstan. and a new drive to get us to reduce the amount of food we throw out. items that should be stor

and therance netherlands have won the contest to host european union agencies, the first political victory in the battle for brexitking authority will move to paris. the medicine regulator will relocate to amsterdam by the time britain departs in march 2019. the two cities emerge victorious after a series of secret ballots by eu governments in brussels. transcanada has won approval to build the keystone xl oil pipeline across the state of nebraska. approved anicials alternative route they could be challenged by environmentalists and land owners. moody's says it does not provide certainty for the project completion. of the 1900tion kilometer pipeline has been on the drawing board since 2008. that is your business flash. we have already been discussing the story a little bit. fencey saudis looking to in assets in case the authorities widen the crackdown on corruption. several families and businessmen who are not implicated in the purge are looking at options, including splitting holdings between more than one company. our middle east economics and politics team leader joins us now. that me put you on the spot. what

the water we are thinking about brexit, all this uncertainty, how will it affect the european union when it is facing so many difficulties at the moment? big problem forme way are going to be very limited and her ability to reach out across the channel to london to do something on brexit that she might not be able to do otherwise given that she does not have this strong mandate to lead a government. also going to be almost impossible. i think she is going to have to think ha rd think she is going to have to think hard about whether she wants to push for new elections, because she may also end up having a somewhat worse result this time around than she did last time and she was already, you know, she had already been falling in the polls. it is a risky situation for angela merkel and at the end of it she could find herself out of power altogether. at one point she seemed unassailable, where will historyjudge that things went wrong, was it the moment she opened up wrong, was it the moment she opened up the borders? no avoiding that interpretation at this point, the refugee crisis is something that has really been the persistent issue in germany, it disa

for his actions. the european union's chief brexit negotiator has said the uk has two weeks to clarify what it will pay when it leaves if it wants talks to move onto a trade deal at december‘s eu summit. michel barnier also said there were issues around the irish border that needed to be resolved. now on bbc news, it is time for click. this week, caveman, moon rabbit, space turtle! welcome to china, to shenzhen. believe it or not, this place was once a small fishing village. yeah... notany once a small fishing village. yeah... not any more. now it is a mega— city of nearly 20 million people. it is most famous for creating consumer electronics, often imitations of premium devices. but as china has opened its doors to international trade in the last decade, it has undergone a transformation, making strides toward becoming a global power and moving away from the image of being a simple manufacturer of good, fake or otherwise, to one of innovation, especially technology. made in china is fast becoming designed in china. next week, we will visit some of the companies that call shenzhen home, but this week,

for his actions. the european union's chief brexit negotiator has said the uk has two it looks like a new transit as aons at a trade conference being held in vietnam. now on bbc news, it's time for hardtalk.

for his actions. the european union's chief brexit negotiator has said the uk has two weeks to clarify what it will pay

for a fourth weekly gain. the times are reporting that dublin and london are close to an agreement on the irish border and moving closer to the brexit deal. european unioneaders also prepared to offer a two-year brexit transition deal as early as january, so says the times. in mccoury bank said that this is a game changer for sterling, predicting that the pound will be rising. it jumped yesterday, as i said, because of the preliminary agreement on the financial settlement that britain will pay when it quits the european union, apparently it has been a struggle. we will talk about brexit later. vonnie: we will. and as for taxes, we may have a final senate tax plan as early as today. the wrangling continues over whether to include triggers to tax increases as economic growth does not meet revenue targets. republicans must have 50 of their 52 members vote yes in order for it to advance. joining us is the ranking member of the house budget committee, representative daniel met of kentucky. thank you for joining us. >> thank you. vonnie: you are concerned about transparency last time we spoke my given we could have a full senate vote today and we could even h

for the european union. and that obviously has applications for the brexit negotiations as well. decision-making in the eu could withy stall if you end up a caretaker government in germany, or if merkel stays as chancellor in a minority, running a minority government everywhere is difficult and obviously, if we have merkel in the minority decision, decision-making and managing the german economy becomes problematic. i think the answer to your question is it jams up the decision-making process will step anna: do we read anything into the collapse of the talks, the things that the sdp has objected to? requestsvery specific about the ability to not leave the european union. bob: correct. the longer-term european union strategy has been to have this inner courre in the eurozone and then around that, a ring of countries, such as sweden and denmark, that were not in the euro, but are strong members of the european union. that's the longer-term strategy and within that, within the eurozone, to have more fiscal consolidation because obviously, the big anomaly in the eurozone is we have m

european union on the brexit bell. david davis said the financial settlement on the divorce terms will probably be better for the remaining european union countries. there will be a two day session starting tomorrow -- starting a week from tomorrow. >> nothing is agreed, but everything is. the balance will favor the union in terms of things like money. relationship will favor both sides. >> global news 24 hours a day, powered by more than 27 journalists and analysts, in more than 120 countries. there is a fresh 21 year high here. the sx 200 had a good session. new zealand is not on this board. it is planning to ban foreigners from buying homes in new zealand. shares at a nine-year high, the highest since 2008. this is after the company increases annual operating profits to $5.6 billion in profits. this is after increased dividend. macau casino revenue rising year on year. ann: thank you. house republicans have delayed the release of their tax bill by one day, reflecting the tension around key provisions in the proposed legal overhaul. tomp campaign manager agreed a meeting with representatives of russian president vladimi

for first—time buyers of homes up to £300,000 in england, wales, and northern ireland. and on brexit, he's setting aside £3 billion to be spent on plans for leaving the european union. 0urcal editor, laura kuenssberg, reports. almost ready to go. a big day for downing street, whose grip for months has been shaky, to say the least. reporter: feeling the pressure, chancellor? the priority for number 10 and ii, those powerful next—door neighbours... is this a make or break budget? ..was for today's events not to slip, to keep the budget tightly in their grasp. for the chancellor, the aim, to be the steady national bank manager, not to tear up the rules altogether. knowing his ownjob, as well as the government's fortunes, would be shaped by what he was about to say. philip hammond. a cheerier start than mr hammond's usual demeanour suggests. i report today on an economy that continues to grow, continues to create more jobs than ever before, and continues to confound those who seek to talk it down. in this budget, we express our resolve to look forwards, not backwards. yet, with brexit hanging over him, the risks of no deal with the rest of the eu real and expensive. today,

meanwhile the brexit secretary, david davis, has told the bbc it's time for other european union countriesbrexit. he's refused to comment on reports that the government could scrap its plan to write into law the date when britain will leave the eu. our correspondent leila nathoo has been following developments from westminster... there is a real sense of the clock ticking towards next month, when the government hopes the can begin, but given what the president of the european council is expected to expected to say to theresa may today, there is a sense that there's not much chance of the compromise the government is looking. theresa may's main priority is getting beyond the divorce issues of the irish border and citizens rights. getting beyond those issues and on to talk about the future trading relationship. that has already been delayed, we had expected the talks would move on in october, but it's up would move on in october, but it's up to eu leaders to agree on that. all hopes are pinned on the next eu summit in december. theresa may is today heading a government effort to try to convi

security firms have been frustrated for a long time by .wnership caps in brussels, brexit talks have ended for the week with no breakthrough. that is according to european unionhief negotiators. of twoise the point sides failing to reach an agreement by next month. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm emma, this is bloomberg. scarlet? scarlet: coming up, china making a historic move to open its doors to foreign financial firms. we will discuss what exactly this means for the world's second-biggest economy. from new york, this is bloomberg. ♪ julia: this is bloomberg markets. i'm julia chatterley. scarlet: i'm scarlet fu. china taking a big step towards opening its financial system, allowing overseas firms to take majority stakes in inventors and insurers. joining us now is patrick and for messer at columbia it diversity school of international and public affairs. he is a former business as well as a this is a symbolic move, if nothing else, but you are skeptical of what this could mean. why is that? patrick: my attitude toward chinese reforms is chilly. i have heard to dante decades of

this is for both the uk and the european union to move onto the next stage. brexitwill, turn to trade next month. but leaders here need more persuasion. mrjuncker, are you worried about brexit? brexit is a tragedy. i will meet the british prime minister on 4 december and then we will see if there has been sufficient progress. are you at all confident progress will be made? yes. but every country must agree to start talking trade, and ireland's minority government is facing the risk of collapse at home, but was sounding tough here — suggesting brexit talks could stall without clear guarantees there will be no hard north—south customs border. is ireland prepared to block progress? i don't think ireland will have to block anything on its own. there is absolute solidarity across 27 countries here. germany's not much more supportive. angela merkel was already firm on brexit. now she has her hands full forming a new government. she met mrs may today, another leader looking for more give on the british side. in her one—on—one talks with the eu council president, no final p

meanwhile, the european union will decide this evening where two major eu agencies, currently based in london, will be relocated after brexit. 19 cities are bidding foragency, while eight want to host the european banking authority. more than 1,000 people work for the two agencies. our business correspondent theo leggett has the details. london's canary london's ca nary wharf london's canary wharf is home to some of the worlds biggest banks and two prestigious eu agencies, the uk banking authority which monitors the health of the region ‘s biggest banks and the european medicines agency which supervises drugs used on humans and animals. but now we are leaving the eu, both organisations will have to move and today they will find out where they are going. two dozen cities are scrambling to host them. the european commission says the agencies employ about 1100 people, many well—paid, but they also attract many business visitors for meetings, conferences and expert panels. between them they book about 40,000 hotel rooms per year. the uk will lose 1100 good jobs of regulators who spend money in the capital but there is more to it than that. having a regul

european banking authority and inking set reports. after heated battle with nearly two dozen cities vying for the spoils of brexit. amsterdam has won the right to host the european union's mets in agency in the final result was decided by ththe luck of the draw. following a tie between the dutch capitol and milan. we are delighted. thatat in the end it was a it was very tight. that he was nerve wrecking t to be honest. but in the end that's a bbc became the new seat. of for him i. yeah main now has lessened seventeen months to complete the move. the institution had been based in london since nineteen ninety five. around nine hundred jobs with the fortune with the agency. setup to harmonize the work of existing regulatory bodies it evaluates and monitors medicines for humans invention or use. the second vote of the evevening was another nail biting finisish. paris speak dublin to become the next host of the european union banking agency. an institution setup to maintain financial stability within the eu. i'm all or. at the moments that he was concentrating on performing as banking union. and its continuing surface you ambitious projects in that area economic and monetary

brexit process. in a sign of her intent, she's outlined plans to enshrine in law the exact moment that britain will leave the european union — 11pm on 29th march, 2019. but the man responsible for 50 withdrawal process — cross—bench peer lord john kerr — says brexit could still be reversed. our political correspondent emma vardy is in westminster. what has prompted the pledge from the prime minister? call it theatrics, called it symbolic, this is theresa may publicly underlining her commitment to brexit. her message is, we won't go against the democratic will of the british people. listen to what she says in her article in the telegraph today. she says, let no one doubt our determination or question our resolve. brexit is happening. she says, we will not tolerate attempts from any quarter to use the process of amendments to the eu withdrawal bill as a mechanism to try to block the democratic process. the eu withdrawal bill comes back to the commons to be debated by mps next week so it is no coincidence fi.,,, lord coe, the man who knows the nuts and of this and bolts of this clause. lord coe, the author of article 50, is expected to say more today. we could change our minds at a

but first, tuesday will be a big day for brexit, mps are to start their long—awaited scrutiny of the european uniont as something of a curtain raiser the government has offered a concession to mps, calling for parliament to have a greater say on the final brexit agreement. in a significant shift the brexit secretary told the commons he intends on bringing forward a new lot to implement the final deal, giving mps the chance to go through it in detail. labour described the move as a climb—down by ministers facing potential defeat on the eu withdrawal bill. david davis warns that if mps voted the new bill down the uk with leave without a deal. mr davis unveiled a plan while reporting back on last week's talks with brussels. i can now confirm that once we have reached an agreement we will bring forward a specific piece of primary legislation to implement that agreement known as the withdrawal agreement and implementation bill. this confirms the major policy set out in the withdrawal agreement, will be done correctly implemented in the uk by primary legislation. not by secondary legislation of the withd

the european union's chief brexit negotiator has a warning for the u.k..says leaving the eu means that it is banks would lose their so-called passporting rights that allows them to offer their services to 500 million consumers and 22 million businesses. the 78th wedding anniversary of queen elizabeth and prince philip. the two married at westminster abbey november 20, 1947. bells rang out at the abbey to mark the occasion. they released several new portraits of the couple. the royal mail has also issued a series of commemorative stamps. global news 24 hours a day powered by 2700 journalists and analysts in over 120 countries, i am mark hunter. this is bloomberg. , twoe: after nine years presence of decisions, multiple byses, and countless and mental protests, transcanada has finally won approval to get that permit to build the keystone pipeline. it was all dependent on the brassica and that final portion. today three of the commissioners decided to grant the pipeline. .et's bring in tina davis the latest is that transcanada says it is considering it. why m

for those who voted brexit and must be respected. by the end of the next financial year for the nhs, march 2019, the united kingdom will have left the european unionwill not be strengthened if anyone now tries to argue, devoted brexit pop before a better funded health service, argue, devoted brexit pop before a betterfunded health service, but precisely because of brexit, you now cannot have one day she voted brexit for a better funded health cannot have one day she voted brexit for a betterfunded health service. at the same conference, the health secretary said there could be no commitment because of the uncertainty of the brexit outcome. it was not a government promise. it was a promise by the vote leave campaign. but what i very much agree with is that if there is a brexit dividend, if we end up having less pressure on public finances, because of the fact that we are not making net contributions to the eu, then i believe that the nhs should be the first port of call. the plea for a financial boost for hospitals, ambulance and community services was reinforced today by three major think tanks which insist an extra £4 billion is essentialfor thin

square up over cash and immigration — as the uk looks on for signs of what might be to come in a future post—brexit relationship with the european unionscussing with our correspondence that in many ways its payment for access to the common market, the european market and clearly a lot of questions continue over that funding. va va—v—rooom! it's been more than a hundred years since the royal enfield motorbike first revved its engine. first made in 1901 — it lays claim to being one of the world's oldest motorcycle brands still in production. during the first and second world wars it supplied bikes to the british forces. in 1955 the company partnered with enfield india to manufacture the motorbikes in the east of the country. just over a decade later the british firm went bankrupt. but the name royal enfield has been carried on by the india—based firm — which now has plans to bring part of the business back to the uk. siddhartha lal is chief executive of royal enfield. he is with us now. nice to see you and welcome. thank you. let's talk about your involvement, you've been doing this for quite a file, you did this as a result of your fat

brexit. the country's decision to quit the european union has resulted in a sharp fall in sterling and an increase in inflation. he set aside 3 billion pounds forxit contingency plans. ployees of bankrupt airline air berlin have taken to the streets of the german capital to protest against job losses. their futures hang in the balance under the company's new owners, lufthansa and easyjet. reporter: they say they have been forgotten. hundreds of former air berlin employees took to the streets to vent their frustration. the airline's insolvency has left them in a peculiar kind of limbo. >> today we are calling on politicians to take responsibility. this is about a company takeover. as the facts stand today, 80% of us here are flight crews. we have no work anymore. we were let go conditionally, which means we are not entitled to social welfare because we were not officially fired. i do not think people realize that. reporter: anger, especially at the decision to guarantee payments of up to 4.5 million euros to the former air berlin ceo. many people accuse the company of breaking promises. >> we're back to square one. people need to apply for new j

for any bride—to—be, it is likely to be a busy few months. the uk's banks could cope if britain leaves the european union in a "disorderly brexit". d's so—called stress tests. for the first time since the financial crisis, all of the uk's biggest lenders have passed the bank's criteria to cope with an economic downturn. our personal finance correspondent, simon gompertz reports. could our banks deal with another financial crisis or a big recession oi’ financial crisis or a big recession ora financial crisis or a big recession or a chaotic brexit? the answer is yes, though with some reservations. the bank of england look at what would happen if our economy shrank by nearly 5%, if its interest rate was put up to 4% and it has prices plummeted by a third. banks would still be able to carry on lending. the governor mark carney said they would also cope if the uk crashed at the eu without agreement though people would feel it. there will be an economic impact on households, on businesses, there will be lost markets for a period before new markets for a period before new markets are found and there will be some pain associated with that

government has offered to significantly increase the so—called brexit divorce bill, the amount of money it is willing to pay the european union foreparture from it. it is understood the government is now prepared to pay up to 50 billion euros, around £41; billion, in an attempt to kick—start talks on a future trade deal. back in september, the prime minister had said the uk was prepared to pay 20 billion euros. today, on a surprise visit to iraq, theresa may said the uk was still in negotiations with the eu, but wanted to move soon to trade talks. our political editor laura kuenssberg has more. there is no substitute for personal diplomacy. the prime minister the first major leader to visit iraq since so—called is were driven out of mosul. thousands of miles away, dealings between westminster and brussels mean a broad offer to settle the uk's accounts has been hypothetically agreed. we are still in negotiations with the european union, and i'm very clear that i want us to move together onto the next stage. of course, we're working in the lead—up to the december european council. i want to see us able to move on to the trade talks

brexit divorce bill. it's been reported that she's prepared to pay more to help break the deadlock in negotiations with brussels for the uk to leave the eu. the european union'sbarnier, says britain could be offered an ambitious free trade deal as long as what he called an orderly withdrawal was agreed. 0ur political correspondent eleanor garnier is following developments. busy ahead of the budget on wednesday, highlighting the government's plans for investing in technology and engineering. but the prime minister and the chancellor, too, know brexit is the backdrop to everything. hello. and it's the money, the so—called brexit bill, that is the main sticking point in the negotiations. we've been very clear that we will honour our commitments. but i want to see is developing that deep and special partnership with the european union for the future and i want to see us moving together because as i've always said, a deal that's good for the uk willbe a deal that's good for the rest of the eu. for the uk will be a deal that's good for the rest of the eu. in brussels, the eu's chief negotiator said the preference was for an ambitious trade deal, but only if brexit

for first—time buyers of homes up to £300,000, in england, wales and northern ireland. and on brexit, he's setting aside £3 billion, to be spent on plans for leaving the european union.ur budget reports tonight is from our political editor laura kuenssberg. almost ready to go. a big day for downing street, whose grip for months has been shaky, to say the least. reporter: feeling the pressure, chancellor? the priority for number ten and 11, those powerful next—door neighbours... is this a make or break budget? ..was for today's events not to slip, to keep the budget tightly in their grasp. for the chancellor, the aim to be the steady national bank manager, not to tear up the rules altogether. knowing his ownjob, as well as the government's fortunes, would be shaped by what he was about to say. philip hammond. a cheerier start than mr hammond's usual demeanour suggests. i report today on an economy that continues to grow, continues to create more jobs than ever before, and continues to confound those who seek to talk it down. in this budget, we express our resolve to look forwards, not backwards. yet, with brexit hanging over him, the risks of no deal with the rest of

european union select committee. david davis has appeared before us on the european union select committee three times since the brexit vote, and on more than one occasion he has promised parity of information ford also the committee in the house of commons. we have now published 20 reports and there are more in the pipeline, therefore we are in a high state of knowledge about sectoral issues. can i ask the minister to go further in saying he will have a discussion with our chairman about things, but actually to undertake as i said, we still need to have further discussions with the chairman of the brexit select committee in another place. we will of course reflect further following those discussions on what information we will want to provide to comply with the motion. i have undertaken to have a similar discussion with the chairman of the committee in this place. i do not want to go further than that at the moment. lord calla nan. you're watching tuesday in parliament, with me, mandy baker. if you want to catch up with all the news from westminster on the go, don't forget our sister programme, today in parliament, is available as a download via the bbc radio 4 website. prosecutors in madrid h

this is for both the uk and the european union to move onto the next stage. brexitade next month. leaders here need more persuasion. mrjuncker, are you worried about brexit? brexit is a tragedy. i will meet the british prime minister on the 3rd of december and then we will see if there has been sufficient progress. are you at all confident that progress will be made? yes. but every country must agree to start talking trade, and ireland's minority government is facing the risk of collapse at home, but was sounding tough here. suggesting brexit talks could stall without clear guarantees there will be no hard north—south customs border. is ireland prepared to block progress? i don't think ireland will have to block anything on its own. there is absolute solidarity across 27 countries here. germany is not much more supportive. angela merkel was already firm on brexit. now she has her hands full forming a new government. she met mrs may today, another leader looking for more give on the british side. in her one—on—one talks with the eu council president, no final proposa

european union calls for a single market rules. is a breakthrough even further away now on the brexit story? good morning. welcome. e watching "bloomberg markets: european open." we are 30 minutes into the trading day. quick look at how the markets are shaping up to get a quick idea of what is going on. data coming out of china, out of hong kong, which looks a little bit light coming through quarter on quarter versus the .6 expectation. let me get you a grr on the stoxx 600 this morning to give you an idea of where the money is moving. a sick resources are bid this morning. insurance looking reasonably did. -- reasonably bid. talking about the idea that oil has had a pretty solid month. on the downside, auto-parts real materials.duction let us get a first word news update. sebastian: donald trump has arrived in vietnam and delivered a speech to the summit. the u.s. president said washington would only make trade deals with countries that trade with the rules and don't try to exploit. trump will not formally meet with vladimir putin, citing his schedule. speculation that the president and his russian counterpart wou

brexit negotiations was not a smart choice. so after we leave the european union we will not engage in a race to the bottom. that would mean lower standards fornd poor prospects for workers. after brexit, britain will have an independent trade policy. and we will use it to lead a race to the top on quality and standards across the globe. stay with us. still to come. could it save egypt's tourism industry? we get a glint of the biggest archaeological museum in the world, due to open in cairo next march. benazir bhutto has claimed victory in pakistan's general election. she has asked pakistan's president to name her as prime minister. jackson has been released on bail of $3 million after turning himself in to police in santa barbara. it was the biggest demonstration so far of the fast—growing european anti—nuclear movement. the south african government has announced that its opening the country's remaining whites—only beaches to people of all races. this will lead to a black— majority government in this country and the destruction of the white civilisation. part of the centuries—old windsor castle, one of the queen's residences, has been consum

for a long time by ownership cap that make them marginal players in china. in brussels, brexit talks have ended for the week without any breakthroughs. the european unioniator says there is some progress on the issue of citizen rights. >> the u.k. has now provided useful clarifications that are a good basis for further work. we also had grudging discussions on direct effects of the withdrawal agreement. this is a key point to guarantee citizen rights. >> he also implied the u.k. has two weeks to come up with a better offer on the financial settlement. u.s. secretary of state rex tillerson is warning countries and groups against using lebanon as a vehicle for a larger proxy fight in the middle east. tillerson says the u.s. backs lebanese independence. and recognizes the country's prime minister appeared -- minister. the prime minister unexpectedly televised his resignation in riyadh last week, where lebanese authorities say he is being held against his will. pope francis is challenging world leaders to imagine a world without nuclear weapons. at a vatican conference pushing for global disarmament, the pope warned nuclear deterrence policies from the col

brexit negotiations was not a smart choice. —— prosperity. so after we leave the european union we will not engage in a race to the bottom. that would mean lower standards forpects for workers. after brexit, britain will have an independent trade policy. and we will use it to lead a race to the top on quality and standards across the globe. 0ur political editor is in berlin and she explained what reaction there was to the brexit secretary's speech. it is almost as if david davies tonight told the rest of the eu, it's not me, it's you, warning them not to put their political priorities, the political sanctity of the eu, ahead of the livelihoods of the eu, ahead of the livelihoods of their people, and put that in the way of a good deal between britain and the rest of the eu which keeps oui’ and the rest of the eu which keeps our trade links going. now, i think that betrays the frustration that is felt in some parts of the uk government at what they see as a pretty hard—line approach being taken particularly in berlin and then harassed. —— and in paris. it is provocative to come here to make that case. it is also provocative to say it is the other side that ha

this is for both the uk and the european union to move onto the next stage. brexitth. but leaders here need more persuasion. mrjuncker, are you worried about brexit? brexit is a tragedy. i will meet the british prime minister on the ath of december and then we will see if there has been sufficient progress. are you at all confident progress will be made? yes. but every country must agree to start talking trade, and ireland's minority government is facing the risk of collapse at home, but was sounding tough here, suggesting brexit talks could stall without clear guarantees there will be no hard north—south customs border. is ireland prepared to block progress? i don't think ireland will have to block anything on its own. there is absolute solidarity across 27 countries here. germany's not much more supportive. angela merkel was already firm on brexit. now she has her hands full forming a new government. she met mrs may today, another leader looking for more give on the british side. in her one—on—one talks with the eu council president, no final proposals, no breakth

this is for both the uk and the european union to move onto the next stage. brexit, maybe will turn to trade next month. leaders here need more persuasion. mrjuncker, are you worried about brexit? brexit is a tragedy. i will meet the british prime minister on the 3rd of december and then we will see if there has been sufficient progress. are you at all confident that progress will be made? yes. but every country must agree to start talking trade, and ireland's minority government is facing the risk of collapse at home, but was sounding tough here. suggesting brexit talks could stall without clear guarantees there will be no hard north—south customs border. is ireland prepared to block progress? i don't think ireland will have to block anything on its own. there is absolute solidarity across 27 countries here. germany is not much more supportive. angela merkel was already firm on brexit. now she has her hands full forming a new government. she met mrs may today, another leader looking for more give on the british side. in her one—on—one talks with the eu council pres

another roadblock has come up in the brexit talks, the european union is calling for trade and customsland and northern ireland. that is almost impossible for prime and mr. theresa may's government as it would mean putting a border between northern ireland and mainland britain. global news 24 hours a day, powered by more than 2700 journalist and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. .rancine: thank you so much the u.s. president trump and the chinese president xi jinping has delivered remarks at the asia-pacific summit in vietnam. donald trump says he wants to focus on one-on-one agreements with asian nations and xi jinping did it through globalization needs adjustments but is irreversible. president trump: this trip comes at an exciting time for america. a new optimism has swept all across our country. >> despite risks and uncertainty, mobile trade -- global trade and investment are picking up. president trump: we will not let the united states be taken advantage of anymore. >> we should continue to foster an open economy that benefits all. opennes

for the united kingdom and the european union. received a warning that several issues need to be resolved by december in order for brexit talks to advance mark crumpton. this is bloomberg. recap oflet's get a today's market action. a down day for u.s. stocks. we could not build on yesterday's rally. the dow losing 100 points on the day, despite some big gains in some retailers, which shows you we are at the end of earnings season. joe: i missed it yesterday because i was not here, but i heard we had some big gains. yesterday, the international swaps and derivatives association made it official -- venezuela's state oil company is in default, triggering credit default swaps on some of its $30 billion in debt. already, some are drawing parallels between the chaos in venezuela and argentina's defaulted debt. two separate issues going on. i just want to clarify -- what we talked about yesterday on the show, saying now we've got the credit default swaps. the insurance protection has been triggered. how is the payout determined on that? can you briefly explain that, and then we will move on to the comparisons with argentinian venezuelan defaul

brexit talks. the european union calling for a trade rules to be the same on the -- in ireland and in northern ireland to avoid a hard border. that is almost impossible for theresa may's government, who has said they will leave the market. and the british economy on a mixed note for the quarter. construction fell the most in 18 months. the trade deficit did shrink, but it was not enough to keep the shortfall from widening in the quarter. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm emma chandra. this is bloomberg. ♪ julia: live from bloomberg headquarters in new york. i'm julie chatterley. scarlet: i'm scarlet fu. joe: i'm joe weisenthal. julia: we are 30 minutes from close of trading. stocks are heading for a weekly drop. a touch of volatility written into the markets. joe: what did you miss? scarlet: china opening the financial system, even as some investors have lost interest. is it too late? and in washington, the senate finance tax bills could derail hopes of tax reform before the end of the year. they are clashing on everything fr

for ending four weeks of coalition negotiations on sunday. mrs merkel‘s former coalition partner, the spd leader martin schulz, has again ruled out continuing with their grand coalition. the european union's chief brexit would prefer an ambitious future partnership with britain once it leaves. but he's also warned member governments to prepare for no deal. an update on a story that we've been following here on newsday. an argentine navy spokesman says sounds picked up on sonar equipment did not come from a missing submarine in the south atlantic, dashing hopes for the search and rescue operation. the vessel — with 44 crew on board — had reported an electrical breakdown before it disappeared five days ago. us television presenter, charlie rose, has reportedly apologised for what he called ‘inappropriate behaviour‘ after allegations of sexual harassment. his network shows were suspended following a washington post report in which eight women accused him of harassment. in a statement carrying his apology, rose said he did not believe all the accusations against him were accurate. now — pictures of a lucky escape for all involved when a small plane crashed on a highway in florida. police dashcam footage s

for ending four weeks of coalition negotiations on sunday. mrs merkel‘s former coalition partner, the spd leader martin schulz, has again ruled out continuing with their grand coalition. the european union's chief brexitrnier, has said the eu would prefer an ambitious future partnership with britain once it leaves. but he's also warned member governments to prepare for no deal. vessels searching for a missing argentine submarine in the south atlantic say they've picked up noises on their sonar equipment which the navy is now investigating. the noises were detected at a location that was on the route the submarine would have taken. the vessel, with 44 crew on board, had reported an electrical breakdown before it disappeared five days ago. victoria's secret‘s glitzy fashion show has hit the stage in china for the first time but without several of its star names including the model gigi hadid and pop singer katy perry. the run—up to the show was dominated by hadid's withdrawal and reports about visas being denied over political sensitivities. at a 2015 concert, katy perry appeared to show support for taiwan. now, pictures of a lucky escape for all involved when a small plane crashed on a highway in flori

europeans won't give ground on wanting more than 20 billion. they wta brexit is a good want the united kingdom. it frees us from the protectionist customs union that makes prices forntinental european industries. they wto exit saves us a lot of money. it takes is a long way to meet ina money. it takes is a long way to meet in a commitment that was... the wto brexit you are talking about is a fantasy. do you know how many countries the uk trades with at the moment on wto rules? 57% of our trade. 24 countries. 57% of our trade. 24 countries. 57% of our trade is not with eu countries. but most of our most important trading partners in the eu bloc. no, you mistake the deals. most of those deals arejoint mistake the deals. most of those deals are joint competent steels that we have agreed to individually as well. most of those deals, the counter parties have indicated that they are to continue this. you aren't reading what i am reading. many details on trade and legal issues say the idea we can revert to wto rules is pure fantasy. it is straightforward. i was speaking to the singaporean high commissionerfor speaking to the singaporean high commissioner for example. the

for the nhs, march 2019, the united kingdom will have left the european union. trust in democratic politics will not be strengthened if anyone now tries to argue, you voted brexit cause of brexit, you now can't have one. without extra money, the health and social care system faces further degradation in care quality and waiting times. but the chancellor's slim room for manoeuvre means it will be hard for him to find very much nhs cash without tax rises. nick watt has had his nose to the ground much of the week. what are you sniffing out? this is one of the key moment since the general election and philip hammond tomorrow must reach out to those under the age of 50 who preferred labour. but it got off to a scrappy start, one of the dullest press releases ever previewing the budget, talking about was all to embrace change was a vastly less exciting than the quite interesting interviews philip hammond did at the weekend on bbc and the sunday times and then two hours later a more interesting press release, talking about a £112 million investment in teacher training in deprived areas and £177 million investment in the maths teaching for the treasury sources said that