tesco during cop26 was talking about a legacy, glasco i was talking about a legacy, glasco has been theic. and now in the industry, they're doing the logistics industry, the other markets are doing some of the shifts. the thing is to get cleaner air, lower running costs for those companies. and also your string to chip away at oil demand. you're going to see these fossil fuel investments become stranded because the demand that has been built to meet, isn't going to be there if we do shift of two electric vehicles as quickly as we potentially might. looking at the oil field here in the uk for instance and the billions that that is going to take to get deep down to the oil that is there. is there a point we look at the spectrum of temperatures ever at worsening actually, that is not a sensible investment any more. is probably the most compelling argument against these new fossil fuel projects and carbon have been doing a lot of work over the years. reporting this week saying that this is likely to be uneconomic if you're aiming for a is likely to be uneconomic if you're aiming fora 1.5 is

it is glasco. tom: i slipped there.onathan: maybe you're confused that the agreement is in glasco. tom: for the international artists -- audience, there are sports moments. it is michigan. it is a culture of two different schools. they are outstanding academics. you do not want the game to end. it was so graceful. it was nice. it was in a smaller stadium. it was not in some mega corporate stadium. it was in a smaller, more collegiate 60,000 stand stadium. on grass. jonathan: let's move on from this. we will stop a little bit later in virginia. that is the focus politically speaking in america. lisa: for the midterm elections. what is interesting is terry will be joining us. he thinks we will push forward the democratic agenda. it is now or never. they have a limited amount of time if the midterm elections are called into question. jonathan: to get something done. how quickly can they get something done this week? equity futures down 0.1% on the s&p 500. there is a lift them up equity market. lisa called it a test lawn -

francine: maria tadeo and glasco.oming up, the bank of england could become the first major central bank to hike -- exciting stuff. plenty more on that story, shortly. this is bloomberg. ♪ francine: welcome back to the open. at 23 minutes into the trading day. we did not see the taper after what we heard from the fed that a lot of markets were talking about. there was no taper tantrum, if you have taught others, you realize when they are quiet. the dax, the cac, and the ftse between 0.3% and 0.5%. the bank of england could raise interest rates. with crucial job market figures not available, today's decision is on a knife edge. lizzy burden joins us with the latest. it basically depends on two members. lizzy: it does, and this is the most exciting day in u.k. monetary policy in a long time. the markets are convinced they will raise rates, and the backdrop is a target inflation for the past two months, hawkish hints from the committee, including the governor himself, and a more generous than expected budget. on the othe

president biden is attending the global climate summit and glasco scotland meeting with world leaders to discuss climate change. during the summer he's given a number of speeches on reducing methane gas and green job creation. here are the president's remarks from throughout the day. >> during my first week in office i issued an executive order at least 30% of all. 's protections

gerry: is a bit curious, jason, to be arguing for a net zero to be going to glasco and proclaiming thethe same time to urge opec oil producing companies -- countries to increase their output to take some of the pressure off rising prices. it does seem a little hypocritical. >> my own view is that if gasoline prices were a little higher they could afford that they are trying to avoid large and disruptive changes in gasoline prices and trying to keep gasoline prices lower. you might like that you may not like that. that doesn't seem to be what his goal is. it's a goal about preventing larger disruptive rapid changes. gerry: haven't acted this point up some contradictions here with the administration is trying to do. if they really want to wean us off of fossil fuels they should be welcoming higher oil prices so that will speed up the transition for the green economy they tell us are going to do. they do not want to do that it reveals how painful that transition is going to be despite the happy talk. >> that contradiction is actually something that is said real political salience if you g

gasoline is up 50%, literally in thena last three months and i jt heard president biden today over in glascohigh gas prices were a reason to pass the half a trillion dollar green new deal plan which will only increase the cost of energy. i would tell you i wouldn't want to raise gasoline taxes on working families but i do think that there is a way that you can harness the private marketplace to make investments in infrastructure. indiana privatized our tollroad years ago and it's been popular and it's well-maintained so there's ways to address that without going to the end user, the person pumping there gas, the working family out there. we've got to have good roads and infrastructure. roads mean jobs and my hope is for all the congress is doing that somewhere down the road they will think innovatively again about infrastructure and rebuild america. thank you. good question. [applause] this will be the final question of the night. a. >> good evening.my name is jord. >> you can call me mike. first i would like to thank you for your life of public service and for coming to iowa. i have two que

climate toxin glasco -- climate talks in glasgow.y's shareholders say the company's accelerate its digital transformation. new orian also says macy's should form partnerships and use its partnership -- nintendo has cut its sales target for the switch gaming console. the japanese company lames semiconductor shortages and logistics bottlenecks. nintendo adjusted its profit outlook, citing currency exchange rates. a hard-line -- john deere is taking a hard-line after workers rejected a second offer. they say the contract they offered is its best and final offer. john deere valves it will not return to the bargaining table. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. ♪ >> if you take a look at gas prices and you take a look at oil prices, that is the consequence of the refusal of russia or the opec nations to pump more oil. we will see what happens on that score sooner than later. tom: if it is tuesda

he fell asleep at glasco in climate conference where his buddy said we are going to destroy petroleum the sheiks said then? slow things down so you can feel the pain. feel some pain without some oil. they are laughing all the way to the bank. wait until winter comes, lawrence. do you know how expensive home heating prices are going to be? high home heating prices, high inflation, high gas prices. that hasn't happened since the ' 70s. remember what carter said? if you're cold, put a sweater on. jessica is going to have to knit you a sweater. >> jessica: that's what i will do during my maternity leave. i will make you so many outfits. >> lawrence: up next, the liberal media with a new attack on republican voters. this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you. what do we want for dinner? burger... i want a sugar cookie... wait... i want a bucket of chicken... i want... ♪♪ it's the easiest because

he fell asleep at glasco in climate conference where his buddy said we are going to destroy petroleumiks said then? slow things down so you can feel the pain. feel some pain without some oil. they are laughing all the way to the bank. wait until winter comes, lawrence. do you know how expensive home heating prices are going to be? high home heating prices, high inflation, high gas prices. that hasn't happened since the ' 70s. remember what carter said? if you're cold, put a sweater on. jessica is going to have to knit you a sweater. >> jessica: that's what i will do during my maternity leave. i will make you so many outfits. >> lawrence: up next, the liberal media with a new attack on republican voters. >> tech: when you get a chip in your windshield... trust safelite. this couple was headed to the farmers market... when they got a chip. they drove to safelite for a same-day repair. and with their insurance, it was no cost to them. >> woman: really? >> tech: that's service the way you need it. >> singers: ♪ safelite repair, safelite replace. ♪ wow... that's so nice! is that a photo of

dearly for the energy that we are not producing in the united states because what joe biden did in glasco was baguette opec plus, which is plus russia to sell more energy and produce more oil for the united states to buy. this is going to bring europe's energy shortages to the united states and as you talked about in your opening remarks, it's going to make it worse for us. historically americans have benefited from the lowest energy prices in the industrialized world. in 2020 households in europe and japan paid between 85 to 215% more for electricity's than those in the united states. for natural gas, households in europe paid between 49 to 177% more than a families in the united states. if the house democrats get their way, many american families will have to decide whether they can pay their utility bills or put food on the table. one or the other, heat or eat. people will have to decide where their money goes. american businesses have also benefited from some of the lowest energy prices in the industrialized world. european businesses paid as much as 160% for electricity than those in

glasco must start, you might be tired of hearing me say, but a decisive decade of action so we can keeps decade of action so we can keep the limit of 1.5 degrees within the region. we have to keep accelerating our progress. today's agreement, more than 100 countries representing 85% of the world's forests reversing deforestation by 2030, is a great example of the kind of ambition we needin example of the kind of ambition we need in the united states, and the us is proud. the united states is going to keep raising the ambition. from the 2005 levels by 2030. this decade we have to make significant progress. by the way, i can't think of any two days or more that have been accomplished then these two days. i've announced initiatives that will make sure we hit the target of including today two new rules to reduce methane losses and existing gas operations. thanks to the effort of ourjoint effort with the effort of ourjoint effort with the eu, we've grown global methane pledge and raised from nine countries signing onto that pledge. more than 100 countries have signed on. that's about half th

now, 16 years on, it looks like with the latest pledges that have come in to the glasco meeting, we may to do that, to save the trillionths done. i didn't think i'd ever say that. so, trillionths done. i didn't think i'd eversay that. so, in trillionths done. i didn't think i'd ever say that. so, in the big long—term picture, the progress is in the right direction and people acknowledge what needs to be done. but, and it's a massive but, we've also realised in that 15 years, just how bad climate change is both for us and the rest of the world. the goal is no longer two degrees. the goal is no longer two degrees. the goal is no longer two degrees. the goal is 1.5 degrees, and that's where the pledges that are coming into the summit have fallen short. professor, you mentioned some of the world's two biggest countries responsible have been getting together. another of today's announcements was between china and the us — that the two superpowers had agreed an enhanced climate action plan for the 2020s. take a listen to what beijing's climate envoy said. the challenge of climate change is x

speaking to bloomberg and a glasco, he played down expectations for a grand new statement on climate he remains optimistic the climate -- the challenge can be met. >> we are pouring our efforts into research across international lines and i am confident that we can get there. human beings created this problem. human beings can solve it. bloomberg has learned a court in myanmar will deliver a verdict to will be the first ruling on charges leveled against her on charges in the aftermath of a military coup. she was detained in february. facing charges from corruption to the possession of unlicensed two way radios. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. haslinda: exclusive interview. we will ask about the surge in commodity prices,: power shortages and plans for expansion later this hour. just ahead, a look at evergrande 's biggest payment test today as grace periods expire on 148 million dollars of dollar coupons. this is bloomberg. ♪ haslinda: we have breaking news from ev maker reveal

somehow it's making us feel better and then i don't know what they are going to say and glasco. thank you for your testimony. >> the climate change is a global responsibility, but the transition to a clean energy economy is an opportunity in which we make the investments that are needed and we can become a leader to help to me to the needs of climate change. >> i argue to stay in paris with the last administration for those reasons but i've not seen that leadership anymore. the approval of north stream to, there's multiple bad things about it and including on whose behalf we facilitated the sanctions. >> giant corporations have worked hard so they can pay lower taxes than everyone else and now the democrats are working to make the tax code a little bit fairer and parts of lobbyists are fighting us tooth and nail to stop it. the whole thing is disgusting but one slide is breathtaking even in this assessed pool and that is the lobbyist fight to protect the ability of their wealthiest clients to cheat on their taxes. millions of hard-working americans file their taxes every year. t

president biden is attending the global climate summit and glasco scotland meeting with world leaders to discuss climate change. during the summer he's given a number of speeches on reducing methane gas and green job creation. here are the president's remarks from throughout the day. >> during my first week in office i issued an executive order at least 30% of all. 's protections the world's largest temperate rainforest. today were announcing a new plan which will bring together full range, diplomatic. restore critical power and proven land management. and restoring acres of salt forest taken a whole approach to working up to $900 to and restore billions more. it's true economic makes land owners of conservation. work to align the investment conservation goals including the driver of deforestation. pursuing sustainable commodities and the work and partnership with people most impacted by deforestation and sustainable land management, local communities, indigenous people, local government, civil society to make sure their effective and focused on the need. preserving the force and othe