we will talk to francine lacqua and onto tech week for a big week in tech. some companies had to slow hiring, amazon, netflix, robin hood, tesla, twitter, how long is the list? lisa: long and growing where -- kailey: long and growing longer. every day. even these huge cash flow economic companies are looking at the cash flow environment and saying we should slow things down. what signal does that send about the u.s. economy? jonathan: this and that the objective of the fed, to get rid of job openings? tom: we've never seen this, it is an original playbook and i do not think it will play politically well. jonathan: futures negative, positive .1% on this. from new york city looking into europe for most of the morning, francine from rome next. ritika: keeping you up to date with news around the world, i am a cadet. russia extending the gas line to europe after a maintenance period. they were worried it would stay out of service longer in retaliation for the russian invasion of ukraine. they have been coming gas to russia for months but it still relies on politi

francine lacqua from rome. get back to her throughout later programming. 50 basis point still on the table ahead of another painful u.k. inflation reading. the bank of england is not ruling out a jumbo rate hike. we are on that next. this is berg. >> the 50 basis point increase. it will be among the choices on the table when we next meet. but it is not locked in. dani: the bank of england governor making clear a jumbo hike is still on the table next month. we also have inflation data due and it could see rice hikes gain . daily hit back against attacks from conservative politicians, saying the central bank upon sin dependence is more important than ever. let's get more from lizzy burden. we got the data soon. what is that all going to mean for the boe? >> the bank of england will be watching how much inflation spread not just in food and fuel, but into services as well. if it is broad and strong, it will buttress the case for the 50 basis point rate hike. you heard andrew bailey say that 50 is on the table. it

we can do that with francine lacqua london.reaction to what you've heard in the last 10 minutes? franson: well, good morning to you both. i think this is a very strong speech. this is a prime minister that was focused. he talks about regret but he does not apologize. people really and you can sense the atmosphere, it is tense, it is palpable at westminster. outside downing street, they wanted to know the timetable of when the prime minister would actually step down. he has said he will stay on until a new leader is found. this could take weeks, this could, of course, take months. the initial plan was to get it done by october. speaking to mp's, they want him gone now. this is different from theresa may, when she stayed on as caretaker. this goes to his character. tom: francine, more than anyone i know, you have interviewed the players involved in this drama. which individual are you most focused on for this thursday and into the weekend? first of all -- francine: first of all, we need to look at a contenders list. there are abo

bloomberg's francine lacqua in rome. i cannot imagine that happening in the u.k.. our other top stories this morning. russia has started sending gas to europe, that is according to german news. policymakers are preparing for the worst. a plan to curb gas consumption by 50%. for more, we have our reporter. what should be expect in terms of how much will be growing to the nord stream pipeline? >> according to initial data, pipe line flows are expected to hit 4% capacity. that is the level before maintenance. you may not see a huge price reaction but the fact of the matter is that it has not been flowing at full capacity. not only is the data suggesting percent, without a -- suggesting 40%, without a key component they will not be able to lift out of more than 40%, there is a risk it will reduce to 20% next week. the market will be looking very closely at the physical data from the morning. if it does not hit 40%, we could see european gas isis jump again. if it goes above 40%, gas isis could fall. market prices are sensitive to a happens today. dani: lots of risk in

the one problem with that trade is christine lagarde made clear last night in conversation with francine lacqua that they are very focused on inflation and they need to keep on hiking rates. also, because of the fragmentation risk in europe, the ecb might be selling goons to buy peripheral bonds like btp's. even though bonds are rallying as we trade this energy story, it is complicated in the second half. european equities, bridgewater have doubled their massive short bet against european equities that does seem logical. they are unlikely to fall in isolation and are already in more discount to u.s., but volatility might make that difficult. when we look at the euro, i think on a volatility adjusted basis we could see europe continue to grind lower. is the euro index, a trade-weighted version of the euro, it has been going lower all the past year but it really accelerated when the war started around here. we had another like lower recently and i expect it to break significantly lower. even though the dollar euro is a significantly liquid traded pair, we could be heading much much lower than par

francine lacqua is in rome with the latest. it is great to see you. io draghi design -- resigned tonight or get the vote? francine: he could. a lot has happened in the last eight hours. mario draghi said these are my conditions, i stay, we move forward, then the party -- parties in his coalition's start saying, i only do this if you give me this, and frankly this is mario draghi as we know him, when he was in charge of the ecb. this is an uncompromising mario draghi. he said you either back me, my government with all of the coalition partners, which means we agree to the reforms, or i'm out. we are expecting about in the next couple of hours. for the moment the session is still ongoing. we understand the heads of all the parties are meeting to try and figure out what their next move is. anna: we have come along way, haven't we? and still we don't know the answer. meanwhile, italian assets whipsawed by the news flow. what does this mean for the italian economy and europe? francine: the italian economy needs someone who will go through with the reforms.

tom: francine lacqua made global headlines with that panel.s is about going to all of the countries. annmarie hordern did this before she was relocated to washington. it is not just one story. you have to visit them all. to be the focus is the baltic states and scandinavia and maybe that is just to get away from all the other agonies. jonathan: i am jealous they get such great gigs because back in my day i had to go to frankfurt and zurich. lisa: not exactly the same incentive. tom: lisa is going to whole foods foods on the upper west side. lisa: let's not get too ambitious. we will see how it goes. jonathan: with lisa abramowicz and tom keene, i'm jonathan ferro. negative one third of 1%. bonds down eight basis points on the 10 year to 2.9354. almost to 3.50 a couple of weeks ago and since then we have backed away. the data is starting to come in weaker. stateside from new york, this is bloomberg. ♪ jonathan: kicking off the second half of q3 with your equity market lower. on the s&p down one third of 1%. on the nasdaq down one third of 1%. t