francine: which means what?ert: we have the infrastructure, be it i.t., the supply chain, sales organization that can absorb additional brands. francine: talk about your supply chain. a lot of the factories are local and that keeps you from wild gyrations in currencies. robert: we do have a natural hedge. bourbon has to come from kentucky. scratch comes from scotland. -- scotch comes from scotland. it works wonderful. francine: do you worry about tariffs? robert: sure we do, because it will only hurt the consumer. francine: can you increase prices or how do you deal with that? weert: if tariffs come on, pass it on to the consumer. francine: the future of the beverage business, how trend, taste, and marketing have changed during his time at campari ♪. francine: the beverage business is driven by trends and just what consumers in bars want around the world. a man who has guided these styles is robert kunze=concewitz , who joined campari as market director in 2005. he has overseen the changes and ologists hippest m

francine: how do you motivate people?igel: people enjoy doing what we do because they are engaged emotionally what our purpose. people believe we have an important purpose because we do such outstanding things to make a difference in lots of people's lives. we are not a trading operation trying to make daily or weekly profits. we are looking at the very long-term. and as a consequence of that, developing economic activities that provide solutions to the very long-term in a very holistic sense. francine: you are talking about pensions. are we saving enough for our pensions? nigel: we certainly are not saving enough anywhere, and that is one of the challenges society has. because not only do we need to save more, we need to get a better return on what we have qen saving, and in a environment, in a low interest rate environment, we have had to come up with solutions that line to the real economy and driving real growth. francine: who should pay for the pension deficit? nigel: it is sharing between the employer and employee.

francine: and anti-semitism?efore we made our announcement, we are vote.lling for a people's on anti-semitism, genuine concerns have been raised and have said that we will move it out on the figures -- wrote it out.- root it on the figures, even if there is one anti-semite, that is not good enough. francine: what about your leader, jeremy corbyn? why do people feel that he supports anti-semitism? john: i don't think we were quick enough to identify the problem, and i don't think we were ruthless enough in dealing with it. jeremy said that. what did he do? he brought in a new general secretary and said, your priority is to sort this out. there is a jewish man leading the legal aspects of tackling anti-semitism in the party. we are doing a huge education program. beingde ourselves on antiracist party and actually we are an example to other parties. francine: very quickly, has labor been an effective opposition to brexit or could you have done more? john: i think we have been extremely effective. i know some of the

francine? francine: thank you so much.k of a dovish turns at central banks and officials in europe unleashed more stimulus while their u.s. peers indicated they are in no hurry to raise interest rates. the fed governor says weaker economic prospects at home and abroad call for a softer pause on interest rates. still with us is janet yellen from hsbc. when are you expecting -- janet henry from hsbc. when are you expecting an interest rate cut from the fed? >> second half of 2020. francine: the trade concerns between the u.s. and china, that was in a moderate weight, but the economy kind of deteriorated. >> a lot of the 2020 view, and obviously this is looking around a lot of corners, these broad-based geopolitical concerns, but it's actually a fairly long-standing view that we came out with in the middle of 2018. it's based on the fact that by 2020 we will have seen a tightening of financial conditions and we will be seeing the fiscal stimulus starting to fade. we are talking about a year in the coming year where growth is

francine: let me jump in.erson of theresa may, currently briefing reporters. will wante u.k. mp's time to scrutinize changes to the brexit deal and they are still working to do changes to the brexit backstop. let me recap everything. we understand brexit hardliners ,ppeared to soften a little bit their opposition to theresa may's deal, and theresa may is now focusing on getting labor mps on her side while negotiating with russell's to have a better understanding of what concessions they could give her. we'll be back on brexit and talk more about globalization's. john taft of baird stays with us. this is bloomberg. ♪ london.ncine lacqua in i am tom keene in new york. here with tom -- with john taft of baird and ross cost rich of -- and ross cost rich -- and russ koesterich is with us. slope matters. the great disinflation. , we have rolled over with a vengeance. what is the character of the rollover in inflation expectations? russ: it is the fact that despite all of the concerns, mass inflation never happened.

francine? francine: thank you.na has lowered its goal for economic growth and announced a major tax-cut. speaking at the national people's congress, china's premier said the country must brace for a tough battle ahead. for more, david ingles joins us from the forbidden city. what are the key takeaways from today? david: they have lowered the .rowth target to 6% to 6.5% the inflation target is at 3% but as you were mentioning earlier, it is these wide-ranging tax cuts so reductions in the vat. $300 million flag tax cuts and social security cost as well. what they are trying to do is leave more money in the hands of the private sector and consumers. thecine: talk to us about budget deficit target. david: right. they have raised it a little bit. the target is 2.6% of gdp in 2018 -- 2.8% is the target for this year. that is not the whole story because they also increased the amount of special local government loans outside the 2.8% the local governments can issue. it remains to be seen whether or not they will issue th

francine: thank you, kevin. francine: thank you, kevin.o keep the conversation on trade, joining us now is jeremy stretch head of fx strategy at cibc. thank you both for joining us. first of all, we did not see that much volatility overall in the currency markets. givengiven what is been happenis that a surprise? >> to an extent it is. markets have seen a great amount of uncertainty, so in a sense, they have become used to headline risks. in the context of events this week in handling, did we really expect something substantive to come out of the meeting? probably not, we were not in the usual diplomatic process with a sharp as do the heavy lifting and leaders come in and sign in to get the resolution. in a sense, we were in an unusual circumstance. but the mood music seems to be the wayg, and that is the markets have largely discounted we will get some degree of resolution, perceived to be a win-win for the u.s. and china and we can move on and allow equities to continue to hold up relatively well. francine: do you agree with that? >> jer

francine?ng at is similar. i am looking at catalysts that tells the markets what they need to do next. investors waiting fresh news on trade and monetary policy, the dollar up, treasuries edging higher. weakened.end -- i am also looking at oil. we have a bigger than expected holdup. american oil, 56.01. tom: what a joy to have vince cable with us. and of course a liberal democrat. here is a vince cable chart for you which backs so much over the iain duncan smith. another time, the ugly 1974 recession but an upward slope in u.k. gdp over 20 years and coming off of the e.u. it has not happened with regression of slower economic growth in the united kingdom for any set of reasons, not just brexit. francine? francine: i am looking at global , looking atat comes volatility in the foreign exchange market. this is a chart tracking the bloomberg dollar index, the g7 volatility index and fx volatility index. what it tells us is low volatility in currencies have been the boon to trade as it reduces the c

i am francine the quad in paris. -- francine lacqua in pairs. we are -- paris.h her cabinet and a couple of hours ahead of the vote in parliament to postpone brexit. so is willing to negotiate, i wonder if this is a way of getting her cabinet on board for her next plan. tom: francine lacqua with jamie dimon in a bit. steve eisman with us from newberger berman. he feels there may be share zillow,preciation in and marty schenker is with us as well. one more democratic candidate this morning. beto o'rourke was a legit rower. he did not go to college faking that he was in crew. he was at columbia. marty: his parents apparently did not need to do much to get him into college. he is the real deal. tom: he is a texas guy, but east coast prep school. well that resonate -- will that resonate? do not know that he has necessarily a geographic issue. what he has is this wow factor. he transcends borders. tom: the fundraising is a key part of it. ,id he do it as president obama little bitty with dollars, or is he finding big money? marty: very small donations, but he raised

francine: d.c.meone else, a domestic player -- do you see buying someone else, a domestic player to prove your integration skills? nick: what i see more is maybe not so much buying scale. if you see the whole transformation in the banking sector where we started as a savings bank, then having other banking products, we try not to diversify so we are adding many loans. something, iuy would look much more to what fits strategically in diversifying our business, and also be ready for the future in the new digital world. less about skill. getting some capabilities, we are building up our own capabilities, much harder than buying those capabilities. francine: with that the tech companies? is it harder to do your amtech inside? do you have to look at another player? nick: i think so. that is why we bought lend eco-because we thought building our own business is much harder than buying the whole digital platform and building from that ourselves. the second part is also the conference we are at today is par

francine: simon?e top of the show he has read three newspapers and hasn't gotten an answer what's going on. what took place yesterday was an exercise in framing the alternatives to theresa may's deal. number 10 shows they are quite pleased this process is going on because it shows what can happen that those to the right don't back the government's deal and may get a much more watered down version of brexit but there's a key element, the democratic unionist party and worried about the island of great britain and whether phillip hammond with the chancellor's checkbook and some assurances made in london rather brussels will get them around from a no to a yes. james: there is an interesting issue in terms of what the constituency voted in northern ireland itself and you look at the surveys and the young people say it's a smart deal, go forward. businesses like it because they have the boast available of both worlds if they prevail the politicians to give a little to find a solution. and we reveal the real

francine:eader summit thursday and friday. about 50% of the discussion was on brexit. the other 50% was on how europe deals with china, italy and france signing these deals on their own, not part of the eu. let's get straight to the bloomberg first word news. here's viviana hurtado. viviana: a new special counsel investigation. that is the demand from president trump's ally senator lindsey graham. he wants to look into barack obama's government and why it decided to open a probe into election meddling. the question he once answered, was it just an excuse to spy on the trump campaign. the president says those behind the probe will be "looked at." dozens of airstrikes across the gaza strip carried out by israel, beginning with a rocket attack in the center of the country. risky for could prove netanyahu. he is facing a tough reelection battle on april 9. more than $1 billion of infrastructure may have been destroyed by a cyclone that. tore across southern africa. that's according to the -- cyclon

francine: great interview. have plenty more from the forum in china throughout the day. coming up, the impact of trade tensions on luxury retailer with michele norsa. this is bloomberg. ♪ ♪ is bloombergs "surveillance," tom and francine from london and new york. for the better part of the decade, chinese tourists have been on a feeding frenzy for luxury brands, but executives have been hounded about high-end chinese shoppers who generate one third of global luxury sales. , a's get to michele norsa former chief executive officer of ferragamo, now an industrial partner. we thank you for giving us a little bit of your time. ravi whoined by david was talking a little bit about the italian bonds. bonds. when you talk about luxury overall, is it more difficult now than five years ago to make money in china? it is quite different because not only the market was moving altogether it is quite ie direction with different speeds for different companies, but now it is a market of winners and losers in profitability. it is

francine: thank you so much., the list of countries temporarily banning the craft is growing. thailand and india are among the latest, and assessments by the faa that the plane is safe. while the faa's credibility is on the line, regulators stand by ther decision in grounding boeing 737 max. george ferguson is with us. great to have you. it seems the u.s. is going one way and everyone else is going the other way. the airplane is in a lot fleetsrport -- american and has been operated safely here for probably the last six months or so. the faa is looking at that and thinking the aircraft is ok to operate. the challenge is some of the u.s. pilot unions have come out and said they are concerned about this anti-stall system and it puts a heavier workload on a pilot at crucial times like take off. the rest of the world has taken less of a tolerance of risk. it looks like the faa is isolated here. i am concerned that they will have to give in. francine: why is the faa saying this? economy or thee bottom line of boeing i

francine, taylor? francine: back to brexit.falling after the prime minister's office is the u.k. will not be asking the eu for a long-delayed brexit. dual risks could return in the summer but have traders have generally seemed more -- no deal risks could return in the summer, but pound traders have generally seemed more optimistic. for the be enough central bank to increase rates in august? joining us now is peter dixon. he is an asset management senior analyst. nice to meet you in person. overall about the concern about brexit, we are nine days away from the april 29 deadline. it is more confusing. what does it mean for assets? peter: the market has been extraordinarily lax. the market has dipped to month-long lows. they have low positions in sterling. thehe moment, i think market still thinks that for some reason that the government will put out the fire last-minute. parliament has already said no hard brexit. all bets are off. francine: what does it mean for the economy in the u.k., the pound, and the boe? something to take

francine: thank you.le merger talks between deutsche bank and commerzbank. analyst whos an currently has a sell rating on deutsche bank. what is your take on what happens next? how many job losses could we have, and are we really certain this merger would have political support of people in germany? not a merger. is it would be a takeover. deutsche bank would take over commerzbank. if you look at the size of both banks, clearly torture would make a bid for commerzbank shareholders -- clearly, forsche would make a bid commerce bank shareholders. there should be 20,000 to 40,000 jobs. and it is not the idea of deutsche bank to make a bid there. there is pressure from the german government that both things are not probable in the current environment. ifarding your question, germans would accept that, it depends. cuts, it ise job germans will, but ask a price. francine: you have a sell rating. with the merger painted to a buy or hold rating? dieter: we will have to see. what is the outcome, what they are tell

tom: francine?f this particular model where to be discontinued or something like that, which at this point as 100 perspective -- 100% speculation, what would cause you to cut your exposure? howard: i think the issues confronting this plane which have been changes in the software so that when a plane in this case possibly took off, if the software senses the altitude was climbing too fast, it pushes the nose down. disengage have to that system in order to gain control of the aircraft manually. the problem with the lion air crash last year is they did not do that. i would have thought the pilots had all been well trained that if that kind of a problem did surface, take control of the aircraft. we don't know if that happened or not. i have a lot of confidence in boeing. i will give them the benefit of the doubt. there might be some issue of education of the pilots with this new system. i do not think this will be a game changer for bowing -- boeing. tom: we will come back with howard ward. i want to no

joinl joy francine next -- francine next week.e that that was a more rested prime minister. how is her health holding up? how is the exhaustion? sure like a lot of people in brussels, the first one that has said it openly was er. jnck i think he set about a month ago he was brexit fatigued. i imagine when you speak privately to members of parliament, they feel the same way, but this is the future of the u.k. which is why people are not saying it openly. tom: i remember being on the set with jon ferro the day after brexit, the shock of the nation, and one of the real moments was what with the flows be like into the united kingdom. the flow-through folks got it wrong. the current account deficit has been remarkably stable, and there is the new data, flows in and out of travel, data, and services in the united kingdom. we go to a resilient first word news with viviana hurtado. viviana: u.s. policymakers say that economy is on track for solid growth. the new york fed president is downplaying fears of a recession. the st. louis fed pre

francine: thank you both.ting some headlines from the irish finance mr. -- minister, he is saying parliamentf vote in are significant and is suggesting the u.k. take a look back to look at brexit. i think he is hinting at the red lines theresa may imposed on herself. we will be speaking to the finance minister of ireland in the next hour. this is bloomberg. ♪ ♪ countries will demand that work be done. you risk credit order compliance. regulators will sit there. it changes the forecast. it will be not quite what it is today. that was jamie dimon, chief executive of jpmorgan speaking to us yesterday. tom and francine from london and new york. theng to figure out implications of brexit for the financial city and we have spin this we have been speaking to a number of breaks -- banks. let's talk about the ecb, president mario draghi set in place conditions to keep the eurozone in easing mode until he leaves office. this saves his successor from having to restart stimulus decline.e economy us as francesco papadia. t

francine: thank you.n ritchie. we will have plenty more from brexit and what theresa may's week looks like, but let's get to bloomberg first word news. viviana: no collusion between russia duringp in the 2016 election. that is the conclusion from robert mueller. the report also says there was not enough evidence to find that the president obstructed justice. but the fight is far from over. top democrats are demanding the release of his complete report. there is plenty of scope for china to open up its financial market. when it comes to shareholding in licenses, he says foreign beancial firms should treated the same as domestic ones. the federal reserve may have to ease policy if economic forecasts for 2019 disappoint, according to the chicago fed president. he says of the moment there risk to the downside looms larger than the upside. the yield curve is something to be mindful of as well. flat rightd curve is now. long-term interest rates have come down over a long period of time, so it is not surprising

taylor, francine? francine: we are here in brussels, dated above the eu summit.nto the night, but the leaders you see are gathering for a family photo. you are listening to us on the radio. we will push it out on social media. they talk to around midnight to find a solution for the u.k. and theresa may. this is what they decided. it's a two-week extension, but if the deal gets through parliament, they get extensions that would bring them to may 22. welcome to the 21st century, taylor. taylor: it is drowned and ipos. let's get something back to viviana was mentioning. ipo and market we face in the u.s., if you come into my terminal, it has been a slow start to the year. only $13 billion and ipos listed so far. if you go back to the depths of the economic crisis in 2009, even when companies do go public, it hasn't always been successful. snape has underperformed its ipo under facebook. at oneften much a 72% point. the difference is snap was not able to differentiate itself from facebook. the question is if lyft can differentiate from uber. let's take a look at the

francine: what about getting into politics? jamie: that is not me. francine: you're doing it.e divide. jamie: that is the best i can do. francine: if somebody opportunity you a job in politics, would you think about it? jamie: i don't think so. i love what i do. hopefully i can do it longer. francine: how to politicians -- if we lost trust -- jamie: we all lost trust. if anyone is to blame it is the elite. it is not just banks, it is companies, government leaders. something went terribly wrong and people paid a heavy price. the only way you earn trust his day by day, every interaction with every client and every company. there are a lot of great politicians. i think emmanuel macron is doing the same job. if you go the of -- is doing a great job. francine: their huge protests in france. -- he i think he is doing is listening to them. he reversed the gas tax. let's looksaying is at your problems and fix them. what can we do to help you? whoe's a mayor in detroit turned detroit big on civic institutions, schools, companies, help me with streetlights and securities and we are help

francine: thank you.metal we have been looking at the most. i think it is now at a record $1600, concerns about shortages. classes,t all asset stocks are gaining in the trading session today, it europe, the focus on dollar, steady after recent declines when treasuries are going up. it is about the pound for me with the curveball, sterling is well up in 2019 this fight the exittorches -- torturous from the european union. in the u.s. equities market after a better day on yesterday. everything benefiting from a dovish fed but a rally in the s&p on low volume and outputs in the et's. that is certain is the 210 spread flattens and below 15 basis points for the third straight day. you mentioned point in, i wanted to -- you mentioned palladium but gold set to rise for the third straight day. the dovish fed pushing gold a little higher. , below the 13 handled with low volatility across all asset classes. keep a closewill watch on all of these asset classes and i am looking at, the story in the u.k., where pound

francine, back to you in london. francine: thank you so much. growth concerns mount. viewed has downgraded its as the government shutdown took its toll. set to cutthe ecb is economic forecasts by enough to justify in other round of bank loans. the latest projections show extensive downgrades for inflation and growth. let's focus in on europe and the future of the banking sector. joining us now for an excuse of interview from the black rock wealth symposium is philipp hildebrand, vice chairman of

francine: what does it mean?tor in china, you slow down until you see the lay of the land or you should go all in to get market share? jamie: we are all in. we are not slowing down. people are slowing down because of trade, not what i said. they might have a future bounce in the financial system. that will come on the roof one day. right now they can handle it. china can micromanage, tell people, companies what they need to do, who they need to higher. that won't always be true. one day these imbalances may cause a disruption, call it a recession. francine: a financial crisis? jamie: it could be. in america, we had a financial crisis and markets panicked. they can handle it today. five, seven years, they have to be careful about big a desk building up bigger balances. the bigger markets get, the more or less they can control to -- not say that will happen but china growing at 6%, 7%, at the second, i think the world will be scared. kailey: that was the j.p. morgan chase chairman and ceo jamie dimon speaking exclu

francine: why are economists so bad at predicting recessions?ause of geopolitical uncertainty? >> everybody underestimated geopolitical. the trade war really put a toll on trade and spending. this year, the growth slowdown has been sharper than anticipated. everybody thought growth would come back quickly, but you had a combination of the negative feedback loop the market selloff and the lack of the 30, as well as the ongoing geopolitical risk. and the fed has made a difference. the fat deposits made a big difference, and we are seeing some leaders and followers. eu following suit. we have seen accommodations. francine: joyce, great to see you. that is joyce chang, jpmorgan's chair of global research. back to westminster for a brexit update, and we will have plenty more from paris. anna: thank you very much, yeah, lots more coming up. thanks to joyce as well. up next, is apple anti-competitive? spotify launches a complaint over taxes. we speak next with the eu competition commissioner. what issue make of the request -- it doesn't she make of the

francine: what does it mean?nvestor in china, you slow down until you see the lay of the land? jamie: we are all in. we are not slowing down. people are slowing down because of trade, not what i said. when they do have problems they , might have a future bounce in the financial system. that'll come home to roost one day. right now they can handle it. china can micromanage, tell people, companies what they need to do, who they need to higher. -- hire, but that won't always be true. one day this could cause a disruption. francine: a financial crisis? >> it could be. in america we had a financial crisis and markets panicked. they can handle it today. five, seven years, they have to be careful. the bigger markets get, the more -- the less they can control that they would want to control from happening. i'm not going to say it will happen. but china growing at 6%, 7%, at -- and the second they don't i think the world will be more scared than they should be. kailey: that was the j.p. morgan chase chairman and ceo jamie

francine: we were covering the eu leader summit thursday and friday. about 50% of the discussion was on brexit. the other 50% was on how europe deals with china, italy and france signing these deals on their own, not part of the eu. let's get straight to the bloomberg first word news. here's viviana hurtado. viviana: a new special counsel investigation. that is the demand from president trump's ally senator

our colleague, francine lacqua is on scene. francine, start with jeremy corbyn.g in brussels, what can he accomplish? david, we actually caught up with him as he was walking into the e.u. commission, he wouldn't tell us exactly what he wanted. the labor line is that so far there want the agreement to be renegotiated and to focus on a customs union. i think he is trying to be seen as a real opposition to theresa 's plan, and also trying to understand the lay of the land in brussels. it is difficult for him to negotiate anything at all with brussels, but we also heard from jean-claude juncker other find it very difficult to negotiate with theresa may. power is not within the u.k. government, it is within parliament. her deal was watered down twice, and now the house speaker saying that they can't vote other time on the same agreement. so i think this is about getting to know each other a little bit, maybe stealing a little bit of the limelight from theresa may. i think it also helps juncker and his team to try to understand where there could be some commonality in

francine: what does that mean?estor in china come you slow down for four or five years until you see the lay of the land or go all in? jamie: we are not slowing down. people are slowing down because of trade, not because of what i just said. when we do have problems, they may be building up huge imbalance in their financial system. that will come home to roost one day. right now, they can handle it. china can micromanage. they can tell the fiscal people, the monetary field, the companies what they need to do and who they need to hire but that is not always true. it may cause a disruption. financialine: crisis kind of disruption? jamie: maybe. markets panic. they can handle it today but in five or seven years, the bigger the markets get, the less they can control all the things they would want to control. i am not going to say it will happen. the second they don't, the world will react probably more scared than they should be. romaine: that was jamie dimon speaking of course with francine lacqua. let's take a closer

francine: e.u. leaders averted the threat of a no deal brexit, agreeing to give theresa may two weeks to figure out what to do. if they don't endorse the deal, she'll have until april 12 to decide whether to leave with no deal or extend further. pm may: i will make every effort to make sure we're able to leave with a deal and move our country forward. mr. barnier: we have done our best. we have done our best. maria: i think there was a sense of frustration, today i think the sense is relief. david: we'll get another run at a vote in london, if it's allowed by the speaker tuesday of next week. the numbers are not looking good. there's not much optimism this side of the channel that that vote can be within this week. where does that leave her? they said she's either got to ask for a long extension or decide well, we're going to go for no deal. francine: if she had to choose between a no deal brexit or long extension of one or two years, do we have any idea what she would choose? >> i think the europea

francine: what does that mean?s an investor in china, you slow down for five years until you see the lay of the land or you go all in to get market share? jamie: we are all in. people are slowing down because of trade, not what i said. my point is when they do have problems, they may be building huge bounce is in the financial system, that will come one day. right now, they can handle it. they can macro manage. they can tell the fiscal people, moderate people, companies what they need to do but that won't always be true. one day, these imbalances may cause a recession. francine: financial crisis? jamie: maybe. we had a financial crisis and markets panic. they can handle that today but in five or seven years, there will be imbalances. the bigger the markets get, the less they can control all that they want to control from happening. i'm not saying it will happen, but 6%, 7%, the second they don't, the world reacts more scared than they should be. jpmorgan chairman and ceo jamie dimon speaking to bloomberg's francine

we welcome francine lacqua.the risk of getting trapped in the backstop but doesn't change the overall risk of leaving the european union. exactly. this is why theresa may went to see jean-claude juncker in strasburg. there was a rally in the pound. she will come back and there's more of a chance that her parliament will vote it through. then, the attorney general said the main risks are still there. the probe brexit hardliners -- saying thehardliners backstop is part of their strategy -- it will trap the u.k. into this relationship with the eu. in the negotiations about the future relationship of the u.k. in the eu, if they were to be unreasonable, they could unilaterally pull it out. the attorney general pouring cold water on it because it will brexit -- pro brexit faction incentive devoted to vote it down. to go through the numbers. whooke to brexit hardliners said they were expecting to have more news. lawyers -- eight lawyers who will give their findings on this agreement. let's say the hardliners vote again

francine: what is theresa may's thinking? we are 10 days away. what are her options, one, two, and three? david: she is meeting with her cabinet to hash out where to go from here. stephen barclay, cabinet secretary, has been doing the rounds. he says we're in a constitutional crisis at this point, and the choices are about a long delay, and a possibly very much soft every brexit or perhaps no brexit at all. >> u.s. officials are telling bloomberg they're concerned china is putting back and walking away on trade pledges. president trump responding saying talks are going well. sarah: we have heard a very happy, clappy message from the trump administration that talks are going well. donald trump said things are progressing and moving along. the trump administration has indicated that sooner than later, there is going to be a signing summit between president trump and his chinese counterpart, and i think what our story revealed today, it pulls back the covers a little bit on the talks and show, china is pushing back. it is not falling at the feet of

a little later, tom keene will join francine lacqua.o bloomberg radio, which you can follow if radi.our ati go -- this is bloomberg. ♪ you. all of you. how you live, what you love. that's what inspired us to create america's most advanced internet. internet that puts you in charge. that protects what's important. it handles everything, and reaches everywhere. this is beyond wifi, this is xfi. simple. easy. awesome. xfinity, the future of awesome. francine: ecb may cut forecasts for inflation again, while fed officials say they can't afford to be patient. huawei sues the u.s. government for banning the equipment, saying america should not plate judge, jury, and executioner. we are live at the black walk symposium will speak exclusively to our guests. ♪ francine: good morning, everyone. good afternoon if you are watching from asia. welcome to

on keene and francine is assignment.government has confidence in her but does not seem to be supporting her with votes. -- they are no closer to backing her deal. she might need to rely on the dup. downl is taking it dipped from those lines. taylor: was the tension on the ground? is he getting better? anna: there's plenty of it. we are waiting to see whether the eu 27 can agree in principle to give an extension if theresa may manages to get her deal through parliament next week. these things are contingent. even if they do decide to give a delay, how long the delay should be is a point of contention. can it be the end of june? that is what theresa may wants. and twists and turns lie ahead. let's get a first word news update. a military style semi automatic seneschal rifles are now illegal in new zealand after last week's deadly mosque attack. willovernment establish a buyback of the weapons. the prime minister says the ban goes into effect immediately to prevent buyers from rushing to stockpile the gun. crashes,o boeing

i'm francine lacqua in london. we return to catalysts to what markets will latch onto later on.y are

that officeús director, francine tournour says the police department is cooperating...oking for input from the francine tournour, director office of public safety accountability'we welcome anyone to come forward who feel like they have something to share, and itús those who were a part of the protest, it could have been someone watching on a live feed or just some of the neighbors who saw thgs.''was it a good to take at that time to minimize things getting further out of control, again we donút know the answer to that question. but there are certainly those activities that might be ignored take on greater based on the circumstances.' more rain in more rain in store for the bay area..lawrence has the details .. snow and sunshine.. lawrence karnow: it was mostly cloudy with showers and gusty winds this morning. more showers continued into the afternoon with thunderstorms in the central valley. you can see on the doppler the showers now and we will see more tonight. showers will continue tonight and into tomorrow morning as the low moves across california. on the satellite

francine: we have one minutes ago until the start of cash equities trading this wednesday morning.r is in the studio can run us through the start of european equity trade. good morning. dani: good morning. the question this morning and for the past couple of mornings is what signal is the bond market sending us. 10 year yields falling lower, breaking through the 2.4 level. the lowest level since the summer 2017. investors still buying treasuries and the u.s. a very strong bid yesterday. oil holding on to some of their gains. russia affirming their output cuts. in china, shares rising, opposite of what we saw yesterday. the pound is weaker. u.k. lawmakers set to vote on rifle deals. is that political uncertainty hitting the pound? when the pound drops, we do see the u.k. do better. a very up higher because exports heavy sector. as the market opens, we are seeing some mild gains from u.k. stocks. a lot of miners in the u.k.. any kind of town drop will help them but the dovish ecb, the dovish fed is helping shares today. ibex of higher by 1/10 of 1%. we do hear from mario draghi in a

francine: legal & general was founded as an insurance company by six london lawyers in the 1830's, butas businesses and funds around the world. it is one of the largest institutional managers in europe and has more than 980 billion pounds in assets under management. so what does it take to manage a company with this kind of complexity? today on "leaders with lacqua," we meet nigel wilson, chief executive of legal & general. nigel wilson, thank you for speaking to bloomberg. and being here on "leaders

. ♪ francine: campari is a major player in the beverage business.ncludes sky vodka, kentucky bourbon, grand marnier, and others which have seen a meteoric rise across the years. it started in 1860. its drinks are now sold in 190 countries. its products have become staples around the world. today, on "leaders with lacqua"" we meet bob kunze-concewitz. the chief executive. thank you for joining us.

feasibility study on increasing the number of teams from thirty two to forty eight for president jenny in francine or has been talking up the idea for months and is now said to be considering sharing the tournament with her man and kuwait but the concept of sharing football showpiece with capitals neighbors is complicated by geopolitics qatar is under blockade by saudi arabia the u.a.e. and egypt robert harris is a football journalist for the associated press he says jennie and containers looking to leave a legacy. well you can look at it from a sporting perspective in the fact he wants to give more countries more hope of going to the biggest football tournament on the planet and there's another thing at play as well potentially his own credentials if he can be seen as someone who perhaps brings the region together you know there's a distant possibility of a nobel prize potentially that's been always talked about by his predecessor set blatter so if he can see himself as this figure beyond sport which is something he does like to consider him as you see speeches at the g twenty and other political

feasibility study on increasing the number of teams from thirty two to forty eight for president jenny in francine or has been talking up the idea for months and is now said to be considering sharing the tournament with them on and kuwait but the concept of sharing football showpiece with capitals neighbors is complicated by geopolitics qatar is under blockade by saudi arabia the u.a.e. and egypt robert harris is a football journalist for the associated press he says jenni and containers looking to leave a legacy. well you can look at it from a sporting perspective in the fact he wants to give more countries more hope of going to the biggest football tournament on the planet and there's another thing at play as well potentially his own credentials if he can be seen as someone who perhaps brings the region together you know there's a distant possibility of a nobel prize potentially that's been always talked about by his predecessor set blatter so if he can see himself as this figure beyond sport which is something he does like to consider him as you see speeches at the g twenty and other political