this is bloomberg. ♪ 's anna: let's get to francine lacqua in paris with a special guest. cine: i'm very pleased to welcome to the program, emmanuel macron, the former french theomy minister and now head of political party. what have you learned since you left office and started this movement? >> i'm happy to be with you. i have spent a lot of time on the ground on the country and we launched a new initiative thousands of people, we get to see and listen to french people during weeks and weeks to understand the critical issues and problems in order to build a program. not to push new propositions but to listen to the people first. why? thes -- the gap you have, encreasing gap youu hav between people and politicians. when you look at the brexit and the american campaign there is a feeling of politicians -- yes, n o more propose anything is a solution to day-to-day life and to people. so, what i'm trying to do is to build two things. first, a vision and to build a common vision with the people of my movement to say, " what is our position for europe?" innovation. open society

francine lacqua and an important innovation summit in paris, timely to say the least. now, to our first word news. here's taylor riggs. taylor: tom, francine, some big pocketed republican donors are calling on the rnc to disavow donald trump, according to "the new york times," who says that the donors believe the allegations of sexual misconduct threaten to inflict lasting damage on the party's image. the report notes that several big donors have defected, including billionaire julian robertson, who was backing gary johnson. russian president vladimir putin is trying to gain ground on the battlefield before a new u.s. president takes office, according to top lawmakers in moscow, who say taking control of aleppo will give could more bargaining power in dealing with president obama's successor. russia has rejected pressure to halt its bombing campaign. the u.n. says 250,000 civilians are trapped in a humanitarian disaster. the u.s. will remain the most important partner for the philippines, even if the president improves ties with china, according to the president's forei

everyone is off but meet and francine lacqua. it is an odd holiday in america. ff, but the markets open. we will do it full scale anyways. you take away from the debate last night. francine: you know, christopher columbus was actually from my hometown in italy. my overall take is that, when you look at the pound, we need to look at how the pound keeps on getting hammered. the sterling falling for a third time today. because it is folly to quickly, it may confuse markets, and it is getting painful. right now to first word news. mark c.: hillary clinton -- taylor: hillary clinton was in link again for the second debate of 2016. the gloves came off almost immediately. the trump campaign manager from the release of a 2005 tape in which the nominee discussed lewd terms.o another target for trump, hillary clinton's use of a private server as secretary of state. eight is a disgrace. honestly, you must be ashamed of yourself. mrs. clinton. everything he just said is absolutely false. i'm not surprised. taylor: prior to the debate, trump made an appearance, broadcast live

this is bloomberg. ♪ francine: i am francine lacqua here in london. get straight up to the first review. the secondrst -- presidential debate quickly lived up to expectations. disavowed comments captured in a 2005 video and attacked hillary clinton over e-mail use and past accusations of misconduct against her husband. the democratic nominee said mr. trump's remarks show he is unfit to serve as president. mr. trump: this is locker room talk. i am not proud of it. i apologized to my family and the american people. certainly, i am not proud of it, but this is locker room talk. mrs. clinton: what we all saw and heard on friday was donald talking about women -- what he thinks about women, what he does to women. and he has said that the video does not represent who he is, but i think it is clear to anyone who heard it that it represents exactly who he is. : samsung has halted honeuction of its note 7 p after several reports of replacement phones initialed -- released after the initial recall also caught fire. shares fell 6% on the news before paring some o

i am francine lacqua. we have a great panel on banking coming up.his is a picture for the markets. the pound dropping by the most in weeks after the prime starter announced it will rolling the u.k. out of the eu. we are getting manufacturing pi -- pmi coming in in-line. brexitld've had if any impact, 52.6 is the figure for eurozone manufacturing. overall european stocks unchanged. the pound on -- the pound weakening. about deutsche bank will be played out in the states. we do seem closer to a resolution on the doj number. , 2.4% higher. let's get to the bloomberg first word news with nejra cehic. nejra: the pound fell after the british prime ministers says she will pull the trigger on exit -- on brexit by the end of march. a two-year process of taking the nation out of the european union . the confederation of british industry has called guidance on how u.k. business will trade. meanwhile the u.k. chancellor philip hammond will use his first major's beach to reiterate that britain has -- first major speech to read rate that britain has -- while he i

with me, francine lacqua. professor stanley fischer with a great speech yesterday. s that mr. carney has with less inflation. francine: again, this is the kind of market we are in, so the vice chair speaks, stocks rallying around the world. the dollar is sinking. howard will talk with more about that. let's get to "first word news." taylor: in iraq, the offense at ataking mosul may lead to humanitarian crisis. thousands of iraqi troops are advancing on mosul. the u.n. says that could lead up -- that could lead up to 700,000 residents to flee. iraqi officials say that staying put could be safer for people living there. russia has announced a temporary suspension of the bombing of aleppo, calling for civilians and rebels to leave the besieged city. hasrussian defense minister said that the air force needs to stop strikes on the city where 250,000 residents are trapped in rebel held eastern neighborhoods. discussing efforts to resolve a war in eastern ukraine. donald trump's wife is urging voters to focus on issues rather than on allegations of sexual misconduct third m

francine lacqua is live from the science and tech global summit in paris, bringing you the former french economy minister. this is bloomberg "surveillance ." i'm anna edwards. we have a great three hours lined up for you. before we begin, a reminder that at (;30 bring you our weekly next?" brexit, what's the europeaneave union and many contributions from francine at the tech conference. hello tomorrow. plenty more from her as we go through the day. a look at here we are at the early stage of the european trading day. one hour into trading. risk onp by 0.9%, a attitude to markets. the chinese data yesterday was gloomy. today a different

i'm francine lacqua in london. b.h.p.is looking to change the gender balance in the mining industry which is dominated by men currently. 18% of its workforce is made up of women. they want to increase that to 50% by 2025. i'm obsessed with this story. it is 25,000 women that they want in seven years in mining industry. run me through that. >> it is extraordinaryly ambitious. mining is a pretty unconstructed industry should we say. it is an australian-based company. it is hard to credit. it is -- it shows ambition but to be fairs, he said in his statement this is an estimation. francine: the problem is the training. we do a lot of work here, understanding quotas. first of all you need to attract women to a certain industry. australia not seen it is a most equally friendly place on earth in terms of rankings. also why? is it pressure from shareholders or investors? >> mining has a problem here in a study that found even by the standards of companies which are not great, most companies had about 15% of directors as women. mi

with me, francine lacqua in london. hancellor of the exchequer's testimony today. francine: there has been a lot of rumor, and it looks like there is political infighting within the conservative team. we speak to people at blackrock and they say he is considered the adult in the room. he is not considered pre-brexit by some, but he needs to be included. some labor figures. tom: i'm sure taylor will get to that. "first word news," with taylor riggs. taylor: if donald trump wins the white house, he will need a historic comeback to do it. hillary clinton leads trump 47 to 38 in a four-way race. the poll was taken after series of women came forward saying he made unwanted sexual advances. his support among them and the less educated has become weaker. they square off tonight in the third and final presidential debate. chris wallace will moderate the event in las vegas. they will focus on immigration, the economy, and the supreme court. it is a most certain to result in fireworks, their fitness to be president. mark halperin

coming up, francine lacqua sat down with the governor.u go lower from this is bloomberg. ♪ vonnie: you are watching bloomberg. i am vonnie quinn. mark: i am mark barton. this is her global business report. the swiss national bank has held interest rates in negative territory for almost two years. what is the next move? >> the company has set to halt customerss after reported replacement model caught fire. >> a u.s. economy is near gainful employment, but that does not mean everyone who wants a job has a job. how do you define negative employment? >> cutting interest rates further into negative territory is needed. >> you have to distinguish between exchange rates channel. will you be comfortable going further into negative territory? >> we have been quite far but we have room to go further if necessary. industrial production is big and an expected increase for a second month supporting expectations of a river i've -- of a revival. the prime minister's government. theut rose in august from previous month when it decreased .7%. surveyian es

i am nejra cehic, in for francine lacqua. make you smarter about what is best for britain, this is brexit, what is next. we are getting some industrial production numbers. looking at month on month we are down 4/10 of 1%. the expectation was for a increase by 1/10 of 1%. year on year was up 7/10 of a percent. surveyalso a mess on a -- miss on a survey. if you look at the manufacturing production month on month, also a miss. of 1% and we were expecting 4/10 of a percent. coming in a little bit in line with estimates more or less. the trade deficit on the screen for you. at 1.2436.e are we did have a bit of a flash crash overnight see sterling dropped more than 6% in asian trade, the biggest drop since x -- brexit. we have a little bit of a recovery since then. it did drop as much as 1.1841. its check in on where the markets are. i have already mentioned sterling and where we are with that. the ftse 100 still holding well about 7000. we sought hit that record high in the past few days, up 6/10 of a percent. if we look at europe

francine lacqua in london -- in washington, d.c. tom keene. le want to know about deutsche bank. tom: more than a lot. more than a lot. francine: i and understated. deutsche bank is looking at options because of mounting legal bills. according to people familiar with the matter to the german bank is talking with securities firms about possibly raising capital. let's bring in lionel laurent, erik nielsen is still with us as -- with us ass well. this seems pretty obvious but you also have a plan b. lionel: it is the right noise to hear and the market likes it that we do not know how much the legal bill is. it is nice noise but does not help us get any more clarity on what any capital increase would look like. tom: let's look at a chart of the one-year cbs. -- cds. you can see a little pullback. francine: the share price is gaining 2% today but to go to the heart of the matter it is all about the doj fine in the final number that they end up with. do we know if the german government is getting involved? lionel: we know there has been some kind of

tom keene is in new york, i am francine lacqua in london.is reporting revenue that beat estimates. shoppers snapped up celine handbags and new louis vuitton perfume. to $10.2es rise billion led by stronger than expected gains. china's currency outflows may be bigger than they look with goldman sachs morning a rising amount of capital exiting the country in yuan rather than dollars. 27 point $7 billion in yuan this year.ft oldman says such large cross border moves can be explained by -- china's largest electric car manufacture has secured a loan commitment to fund the development of its monorail system according to people familiar with the matter, who say they are scheduled to sign the cooperation deal today. they believe a monorail will represent the next growth area for the electric carmaker. francine: thank you so much. this is a picture for the rand as we speak. we saw a pretty big move because it was down some 3%. it has plunged the most in more than three months. this is after the finance minister said he had been summoned to appear in

. -- francine lacqua in london, tom keene in new york. this is a pretty punchy move because we have a new central bank governor. i do not know whether you will have a rupee board that it is extending gains. it will be interesting to see the global disinflation and deflation. this will be a back story at the imf meetings coming up today. francine: this is my repeat chart. it is going to be one of the stories we will be following very closely. this is the date -- date chart for the rupee. 6.475, gainingt 0.5%. more on that rate cut but let's get to the bloomberg first word news. taylor: theresa may wants to change the relationship between the government and london's financial services industry. according to senior officials see will just she will refuse to give priority to banks after the u.k. leaves the european union. the have dismissed demands for an interim deal. things have gone from bad to worse in u.s.-russia relations. the obama administration has proclaimed that the bilateral peace talks and the syrian civil war are dead after vlad

francine lacqua, we go to wednesday's final presidential debate. will show up. francine: we know who will show up, there are two main candidates. what is not showing up or may show up to quickly is inflation. i think this is underpinning any market movements. dynamicsvery different . now to first word news. iraq has launched an offensive on the islamic state. the u.s. defense that terry -- secretary called it a decisive moment in the campaign to deliver a lasting defeat. u.k. areand considering new economic sanctions. sanctions would target the syrian and russian governments. john kerry and boris johnson have all but ruled out a military response to end the siege and aleppo. china has sent to astronauts into space for the longest mission yet. in vietnam, flooding triggered by heavy rain has killed at least 24 people. roughly 125,000 homes have an flooded. the situation make it worse. for am is now gearing typhoon. china's president once talked tough about china. after 400 business leaders begin a four-day visit tomorrow. relations between the phili

we spoke with francine lacqua in the next list of interview. rate couldange affect the economy.arget rate of 2% -- having , it could affect the economy. every country, the exchange rate fundamentals. the excessive moment of the exchange rate, excessive .ovement that is an agreement moment of g-20. francine: i understand of .ull-year commitment i look at the yen every day, sometimes 10 times a day. there must be a point when you are uncomfortable. if it is not 100, is it 95? , at this moment, we have been careful with exchange of movement. as far as monetary policy is the exchange rate issue -- francine: i understand you don't really want to give a range. how do you feel when you saw the crash in the pound on thursday? >> a bit difficult to understand . the pound depreciated, and then was stable. other financial markets, market hashe stock relatively well in the u.k. i understand, the pound recovered somewhat. stays the exchange rate stable, not erratic. ever?ne: i concerned >> not really. if the japanese companies invested heavily in the u.k., i understand stanley is the second-

♪ francine: i am francine lacqua, right here in london.'s continue our discussion on where to invest in a currency environment that does not look great, with the cao -- ceo of m&g investments. me a liquiding asset can give you some returns. how do you find them? they are always more tricky to access than straightforward markets. sometimes you have to access on issuance if they are publicly traded. for things like loans, you need specialist help to get into those markets. could buy parts of the infrastructure capital spectrum. could be equity. debt.be distressed debt, you have already seen a knock down in price. commercial loans, for example. those areas are harder to access, but if you can get into them, you are getting some pickup for the risk you are taking. one of the other areas where we are seeing real interest is how you drive down actual investing costs. less traded portfolios, where you effectively match your cash flow needs with the underlying maturity of the bonds -- that is another way of eking out a tiny bit more return for you

speaking with tom keene and francine lacqua.an will be speaking with the a tie-in finance minister. this is bloomberg. ♪ . . scarlett: we have the jobs report tomorrow at a: 30 a.m., and a quick dash 8:30 a.m., and a quick report ♪ ♪ ♪ ♪ >> we are just three days away from the second mega important presidential debate between hillary clinton and donald trump, but right now the nation's focus is on a massive storm barreling to the florida coast. hurricane matthew is expected to reach category 4 level tonight and has already killed more than 100 people in the caribbean, leaving florida gov. rick scott to issue a direct and dire warning. >> if you are reluctant to evacuate, think of all the people that the storm has artie killed. you

and over time the monetary be normalized. >> vonnie thomas jordan exclusive interview with francine lacquatowering man. >> that is for sure because francine is also quite large. shows at deutsche bank are trading higher. story they are in talks with the u.s. justice department and continuing over the the size of the fine. this is bloomberg. ♪ vonnie: breaking news headlines now from the conference call .etween gop members paul ryan telling house gop he will focus on keeping the majority, according to politico. also telling house republicans he will not defend trump. paul ryan saying he will not defend trump. there we have pictures of donald trump at the debate last night. he is not resending the trump endorsement. the trumping endorsement, but he did say he will not defend trump either. >> talking about deutsche bank. we will come back to the deutsche bank executive failing to reach an agreement on the multibillion-dollar penalties in washington. bloomberg negotiations are continuing. a typical day in the life. 3.3%.ey are up by where are we in the doj investigation? >> i think we're in th

francine lacqua is there. francine: thank you.very pleased to say our first guest here of the day launching the hello tomorrow conference is jean-laurent bonnafe. it is uncertain times, innovation is one thing a lot of politicians and business leaders want to point to to create jobs and growth. how are you doing this? jean-laurent bonnafe: as you know, this is a rapidly changing world. it is based on technology. there is a lot coming in any sector. for us, as a bank, customers. ideally we need to know, to understand the future, and how to deliver better bank for the customers and what will stand out. francine: what do they need? jean-laurent bonnafe: they need financing. they need to be close to us. they need to be close to their partners. they need to be open globally. you have one nice idea in a country, you need to move the idea in many countries. it is a race. you cannot just say, i have decided this, let's fix it and grow it locally. you have to grow fast rapidly. global bank is good at that. francine: do you think that banks

i am anna edwards in for francine lacqua.yjet's annual profits have fallen for the first time since 2009 is a state of terror attacks clips them off. the airline says the decline of the pound following britain's vote to quit the european union inflated its foreign currency costs. shares have fallen to a two-year low and are down more than 7%. samsung electronics shares have hit a fresh high after calls from activist investor paul elliott singer for the company to restructure and organize. he wants a firm to separate into an operating company and holding company to enlist the former on the u.s. exchange. a special dividend and improve governments by adding two independent board members. he is arguing that would make samsung electronics more transparent. -- after reports on the technology -- says google does not have plans to make of it. apple is unlikely to see -- unlikely to be interested. google was said to be working on a financial advisor on an offer. a representative for google declined to comment. that is your bloomberg

i am francine lacqua.est this morning saying very weak growth in western economies have created a dilemma for central banks. richard jeffrey. also with us, mark gilbert. you can find his columns on the bloomberg. what is wrong with the world, richard? we talked about central banks. you say the eurozone is not efficient. the you want a smaller group for the eurozone? -- do you want a smaller group for the eurozone? richard: if i could rewind it back, i would not have introduced the euro. the underlying economic after buttes of various other countries are very different. put greece and germany together and pretend they are the same sort of economy. that is what you do with the benefit of hindsight. there are current ways of looking at the world economy that are not helpful. as i said, this is an idea that we should get back to the growth rates that we saw prior to the crisis and recession. those were abnormally strong. those were the growth rates that led to the huge imbalance buildup in the economies that w

francine lacqua in london. i am in new york. the bloomberg is this flash. to their mix. -- taylor. taylor: a deal between boeing and iran will be over soon. in september, the u.s. granted boeing the first licensed to sell jets to iran since 1977. the three biggest shippers in iran will combine their operations to become the largest box carrier. all three of thein september, td shippers say they will lose money this year. that is the bloomberg business flash. francine: now, let's look at the political climate in europe. the conservative an independent party merged in iceland. we take this as an excuse to talk about populism. in iceland, the populism pirate party exists. i will not ask about ice and specifically. it basically shows that we are ofcerned about the rise extreme parties. by large, it's unlikely that they come and power. what people are worried about is they influence the agenda of more moderate politicians. >> absolutely. i think the populism ways is definitely still with us. francine: hold that thought. we are getting some breaking news. three w

this is something that jane foley and francine lacqua live everyday. remain that there with the greenock, down we go -- green arc, down we go. jane, what is the risk of a junk condition? how much is a streak lined up against weaker sterling? jane: we have had that big move already. we're not expecting to see any more junk like that. it depends on the political news. if it does seem the ukip prime minister is going to hold firm and say we're going to keep control of immigration and if the european partners say in that case, you give up axis to the signal market, what does it mean? does that mean we are going to say -- japanese companies you have tariffs, we don't want to invest anymore in the u.k.? it unleashes a massive wave of -- massive wave of uncertainty. i don't think we are good to see that jump like we had this year. tom: i want to bring up something that jane lives everyday. this is a stunning chart. i have never seen it. this is a one way that currency surface on euro sterling. it is absolutely stunning when you get out to that red spot. this

let's head over to washington, d.c., imf headquarters, where francine lacqua is sitting down with thek -- christine laquan. let's head over to francine and tom keene right now. tom: from the international monetary fund headquarters, their annual meeting always involves important discussion with christine lagarde. talking about brexit and the changes. debt. of still banking in the dynamics of global banking, particularly european banking. francine: cutting to the chase, first of all, welcoming christine lagarde of the imf. there is so much concern about deutsche bank. how much do you worry about it? >> deutsche bank is an institution that is strongly interrelated with many of their banking institutions around the world. we believe that deutsche bank, like many other banks, has to look at the business model, which i am sure it does he goes it is in the process of selling assets here and there, has to positivityg-term given the lower about interest rates around the world and probably for longer than many fight itnd decide what wants to have and how it wants to strengthen its balance shee

governort is the boj speaking to francine lacqua.hing like a monday morning at 11 minutes after 6:00, talking about central-bank policy in japan. simon, welcome to the program. we have got the clearest mill yet that the boj might postpone its target. it would be the fifth delay towards that target under kuroda. mon: i'm trying to remember when we last hit 2%. i was probably much more fresh based than i am now. kuroda anded about mr. t davos, and he talked about what the bank of japan would do. the market was deeply disappointed. i suspect they will be deeply disappointed again. : this is one of the challenges. i am wondering. is this still one of the top challenges? these are the leveraged bets on the bullish yen. the open interest rate yen is ratcheting, as you can see. simon, how much of a challenges that, versus a delay in the inflation target and the targeting of 0%? a focus for the bank of japan? because i am not confused. becausehis is precisely abouthlights that this is dissatisfaction with the banks. people have been in a lon

guy johnson is in for francine lacqua. you need a news update.nton was on the campaign trail yesterday in miami, alongside 2000 democratic presidential nominee al gore. on the agenda, her sickness -- al gore's signature issue, climate change and energy. that clinton will advance the cause of renewable sources. mr. gore: her plan on expanding renewable energy -- it is right at the limit of what we can do, and that is exactly the kind of ambitious goal that we need from the next president of the united states of america. both white house hopefuls will be pitching voters again today. donald trump will be in florida. clinton will appear in colorado and las vegas. 's top official says their military will join a planned operation against islamic state fighters in the northern iraqi city of mosul. he dismissed protests from baghdad, offering a string of insults on national television, directed at the iraqi prime minister. the u.s. state department says iraqi neighbors should respect iraqi sovereignty and territorial integrity, and differences should be

i'm francine lacqua in london. good morning, everyone. this is tuesday. kick it off with your asset check. this is a picture on the

i am francine lacqua in london. breaking news out of the iea. oil one of our top stories.

ramy: boj governor haruhiko kuroda speaking exclusively to francine lacqua in washington.hat does the market think of kuroda's assertion of even lower rates? tribeca partner sean fenton joins us next. this is bloomberg. ♪ haidi: you're watching "daybreak: asia." i'm haidi lun in hong kong. ramy: and i'm ramy inocencio in new york. nbc is said to have suspended billy bush pending a review that is now crossing the bloomberg terminal. according to a memo obtained by bloomberg, this is related to the fallout that has been happening with donald trump over the past 48 hours with that hot mic event that was announced and broken friday night. billy bush is a host on the popular nbc show "the today show." he's also known to the first cousins with former florida governor jeb bush, who dropped out of the candidacy as he sought the gop nomination to run as president. we will get more on that as it develops. haidi: let's get more on what we can expect out of the markets today with sean fenton, portfolio manager at tribeca. he joins us from sydney. great to have you. about 40 minutes aw

he made his investment case in an interview with francine lacqua.vin: we've had huge inflows into the bond and equity markets in south africa. at the moment, foreigners own over 35% of even our land denominated bonds as well. joining us now is the ceo of the johannesburg stock exchange, nicky newon-king. thank you for joining us. tell us about the political risk in south africa. is down 1% that is a lot to do with the rand. nicky: also with global markets. we have a strong, vibrant, noisy democracy. that contributes a bit to some of the turbulence. we have extremely strong institutions, very critical minister of finance, very critical independent reserve bank. vonnie: you are meeting with investors in new york. what's the case you are making for them to take more business to south africa? nicky: you have these robust institutions, very strong rule recognized by the world economic forum five years in a row. investors don't have to worry about investing there. they can just choose the stocks to invest in. vonnie: why would somebody invest in south afr

earlier today in paris he sat down with francine lacqua and said brexit could open economic doors fornce. could be an opportunity for france but it depends on two things. our ability to provide a very attractive package and avail -- ability to deliver because we produce a lot of things but plan to thisle commitment. second, we have to monitor the brexit. i'm extremely attached to a strict approach to the brexit. china's sino cam group and combinere, it would those go companies with more than $100 billion in assets. details of the deals including timing was immediately clear. samsung electronics is expecting a total impact of five $.3 billion through next march after ending production of its fire prone galaxy seven smartphone. the prices are mounting and the company discussed a negative impact of about $3 billion in operating profit this quarter and the first quarter of 2017 on top of the $2 billion cut in the previous period. hershey ceo is preparing to step down by next summer, bringing fresh upheaval to a company that spurred the takeover from on the lee's international earlier this

. -- francine lacqua is there standing by with sergio ermotti. francine: there's one or two things going on with the banks. what is the mood out there? one, we gotsame ,uite used to every other week financial markets are now more stable. we still need to go through all the challenges we are facing on the macro front. how much do negative rates hurt you? sergio: they hurt us in respect of our ability to generate revenues on our deposits. we have a long inventory of deposits. our clients are very risk-averse. that is a real challenge. francine: deutsche bank is one of the biggest concerns. how many times do you get asked how ubs is different? sergio: i was waiting for that question. deutsche bank is in a graphic situation. a situation that is much better than people probably assume at this point in time. the system is very strong. the same kinds of discussions and matters five or six years ago would have created much more turmoil. thateason i'm confident is i see how the system reacts and i get comfort about this. francine: have you think the doj is

francine lacqua will meet with you again on monday. ♪ tom: a special edition of "bloomberg surveillanceuessed after guest. madame lagarde with us yesterday. francine: we've had quite a couple of days. tom: there is a competition phd's the putf together the blue book, the green book, and the red book, and without question, the trophy this year goes to the redbook, the people on deck. that was the front and center topic. of 152e: the imf figure trillion. ourre delighted to welcome next guest dealing with exactly those issues. mr. gaspard, thank you. we are delighted to have you here. i'm not sure what worried you the most. i know you say you are busy and you do not worry, but markets and politicians should worry a little bit more, should they not? >> no, they should be aware of the risks, and they should realize they have the tools to manage the risks, so there is a and strong call for action, mainly to get rid of this idea that we are in a week and very fragile recovery. we need to make our way too strong, sustainable, inclusive growth. we need policy actions. do you do with policy actio

david: that was christine lagarde speaking to tom keene and francine lacqua.mberg surveillance" tomorrow -- they will be live right here on bloom in television and brick radio. areie: coming up, ties fraying between goldman sachs and leon cooperman after he was hit with insider trading charges. ♪ this is bloomberg markets. david: i am vonnie quinn. david:i am david gura -- i am vonnie quinn. david: i am david gura. time for a look at the bloomberg business flash. it remains on cap to be the vc.gest year for the sea -- some firms have decided to raise money earlier in case economic conditions were too long. new york city's comptroller wants facebook, goldman sachs, dow chemical, and 13 other companies to disclose data on the diversity of suppliers, looking for information on firms owned by minorities and women. a letter cap and extends a 2014 initiative that asks for some of details from the largest investments. and that is your business flash update. omega: leon cooperman's advisors is hit with a major plan to withdraw. he is accused of insider trading, a char

i'm mark barton in for francine lacqua. friday, we wrap up the news, analysis, and conversation that will make you smarter about what's next for britain and europe. this is "brexit: what's next." here's sebastian salek. sebastian: banks in the u.k. will start relocating operations out of the country by the end of the year as london is set to lose access to the eu single market. writing in the observer, anthony brown says many smaller banks plan to relocate before christmas. global banks will probably lose their current legal rights to provide services in the eu after brexit according to the u.k. trade minister. told bloomberg they are trying to create new models. britain's economy grew faster than forecast in the third quarter. the expansion came as services single-handedly ensured civilians against brexit fallout. helped by box office seats for summer movies, the sector offset declines in construction. monday, a brexit strategy meeting between the u.k. prime minister and the leaders of scotland, wales, and northern ireland

earlier he spoke to francine lacqua and tom keene about what the big moves in the pound mean for themostly isrs for the average level of the euro compared with the dollar. and there, there is a stability. i consider that our monetary policy today is appropriate, is adaptive. of course, we are watching all events. >> what have we learned eight years on? ending --e are nearing the end of monetary thecy and it's unclear -- central government has not stepped in with fiscal help. >> i said monetary policy is policyiate, but monetary cannot do everything. this is why we need to complete this appropriate monetary policy . we are working on fiscal sense at the euro area. now slightly positive. toin commission, we try manage the fiscal situation of member states so it is serious. , that weo control that need to do more on the especiallyside, and on the economy of the future and also on human capital. -- the, the dimension commission is pushing forward investment. we have a plan of 250 billion euros. we decided to double it. it's working right now, that we need to have more. a digital economy,

he spoke to francine lacqua in an exquisite interview. i japanese economy is recovering. but modestly. and the monetary policies we have been implementing have had an impact on the economy. and the economy has the fed recovering. still, we have not yet achieved to the inflation package in the target. we have to continue our monetary to get to the target. francine: with this new package you have unveiled, do you think this is the right one? gov. kuroda: i think so. you may know that three and a half years ago, we introduced a new framework. was arly this year, there negative in your state. now we came up with a strengthened framework for qqe.itative easing, called this new framework has two components. one is inflation. that is to say we will continue our extremely economy monetary policy to allow inflation rates to go beyond the 2% target. then gradually soft land at 2%. that is, i think, a strong commitment. not justart is controlling the shortest inter- at -0.1 percent, but also, we continue to control or tried it to around 0%. increasi

coming thursday on bloomberg, tom keene and francine lacqua sit down with ims managing director christinearde. that is live from the ims headquarters in washington -- imf headquarters in washington. if you like bloomberg news, check us out on the radio. you can listen on the bloomberg radio app, bloomberg.com, and sirius xm. this is bloomberg. ♪ emily: amazon is cracking down on so-called incentivized reviews. when customers get free or discounted goods in exchange for writing product reviews. amazon previously allowed these kinds of critiques as long as the author disclosed the discount. the problem was, this made it hard for sellers to introduce new products with no prior reviews. last year amazon filed lawsuits against 1000 unidentified people offering to write fate -- fake product reviews in exchange for payment. amazon is said to be in talks with european union regulators to settle an antitrust probe. the investigation deals with how amazon's e-book contracts with publishers may be squeezing out rival distributors. separately, amazon is already the target of an e.u. investigation int

he spoke with francine lacqua and highlighted some of the sticking points between the u.k.nd the eurozone. >> i would say from eurozone perspective that growth is not good enough, but it is continuing. it has been upgraded slightly by the imf for this year and next year. the last couple of quarters, higher than the u.s. growth. i think we need to step up our efforts in terms of reforming our markets and making sure there are more investment opportunities in europe and then potential growth can even be higher. of course, there's the discussion of brexit which is not helping. say thecertain, to least, could be damaging for future trade relations. so there is a big concern there. a lot of people were unhappy by the atmosphere of the conservative congress, conservative already in the u.k., and that is being followed closely in our countries. francine: we spoke about four weeks ago. at the time we talked about the uncertainty of brexit. are we a lot clearer now what kind of brexit we're looking at, calling it either a hard brexit, when everyone to collect, it seems they're not r

i am francine lacqua here in london.

i am francine lacqua in london.

but up next, is the pulse with francine lacqua.berg. ♪ minister the uk prime plans no favor from the city of london over brexit. the pound falls to its weakest 1985.since the cleveland fed president says the economy is right for a rate hike despite its proximity to the u.s. election. we will bring you our exclusive interview. deutsche bank futures it is trading in frankfurt after a long holiday weekend. we'll ask michael fuchs about the government's position on the banks. ♪

he spoke with francine lacqua in an exclusive interview.he one hand, we economic growth through next year. partly because of big fiscal stimulus. of that fiscal stimulus would be felt next year. this year, maybe growth rate around 1%. next year, growth rate around 1.5%. something like that. >> inflation will grow with it? isin that sense, the economy going to accelerate growth. how about inflation? prices andoil because of we can inflation expectations -- weakened inflation expectations, the current inflation is around zero or negative. it may take slightly more months to reach the 2% inflation rate. to carefully study all of the relevant statistics before we review the focus. we may change, we may not change. at this stage, one thing is quite sure. economic growth is likely to accelerate next year. >> but you seem to suggest that inflation may take a little bit longer. >> maybe. already the latest focus made a few months ago indicated couldhe inflation rate approach 2% in the next fiscal year. uncertainty.t there could be downside risks. ,

francine lacqua, tom keene. a very murky london. good morning. ♪ francine: political warfare.until the u.s. election, after the fbi director could set the reset button. boe -- will he stay or will he go? the future of mark carney overshadowing any policy decision. and central banks look at european stocks falling, mixed corporate earnings interlinked. in londonne lacqua with tom keene in new york. w

up next, francine lacqua. d i will be on bloomberg radio. ♪ francine: deutsche bank on the defense. the lender says the job cut as john cryan heads to the u.n. pulling the brexit trigger. the uk prime minister says they should invoke article 50 in the first quarter of 2017. she is leaning toward a hard brexit. the pound weakens. money manager merger. janus capital is to join forces with henderson group creating a firm with 320 lien dollars in assets. -- 320 billion dollars in assets. ♪ francine: welcome to "the pulse."

up next, it is "surveillance" with francine lacqua.e joined by tom keene for a couple of hours. remember, we have 9:30 weekly special -- brexit, what next. there are panelists from aberdeen asset management. and the belly more properties chairman. propertiese chairman. i am going to join jon ferro on the radio. i am guessing we are going to the redesign, qre, qe, and more. ♪ francine: draghi did not discuss. he signaled qe1.com to an abrupt -- he signaled qe would not come to an abrupt end, but failed to discuss the details. theresa may at the first e.u. summit since prime minister. and stocks on track for the biggest weekly gain in a month. we talk markets and brexit with m richards.