hsbc said about 50% of mobile users were having trouble connecting.it accusing the tesla boss of securities fraud. tens of thousands of ryanair passengers across europe are suffering disruption as strikes cancel 250 flights. unions claim this is the biggest day of action yet against a series of complaints about conditions by ryanair workers in a raft of countries. ryanair say 35,000 passengers have been affected. unions claim this is the biggest day of action yet against a series the royal mail has discovered what it thinks could be a money—spinner — the subscription box market. that's the marketing name for it, and you may already be a customer — if you, say, subscribe to a weekly or monthly deliveries of food, beauty products, shaving kit, hobbies and crafts, books, the list is endless. who'se doing it? who's doing it? well, londoners to start with. over 50% of them are signed up to at least one service. but the people who simply can't get enough are the welsh. the average person living in wales is subscribing to over four services. each. we're join

hsbc has apologised and says it will offer better training to staff. sian lloyd reports.he'd moved house, the reply came as a shock. we noticed you send an e—mail which to the hsbc website in the uk in a foreign language. i said it's a disgrace that welsh is called a foreign language in wales and it reflects very badly on the training that you give your staff, i'll be referring the matter to the welsh language commissioner but in the meantime i'd like an apology and i'd like my original message to be given an appropriate reply. hsbc have apologised, claiming that brian clough green's e—mail hadn't been identified as being in welsh so the welsh language team hadn't dealt with the issue —— geriant lovgreen. they promised training tip prevent a similar matter arising in future. the welsh language commissioner said it was disappointing to still see exa m ples of it was disappointing to still see examples of a lack of understanding and provision by some banks for welsh language customers. she will be meeting senior banking managers in the near future to discuss these latest co

with us today is hsbc.because hsbc's attention to asia and there call for lower interest rates, buttressed against a higher rate regime. so much to talk about. i want to go to your research note right away. i'd love this denial of strong dollar. let me bring up the chart. bloomberg dollar index range bound. a new got to weaker dollar, right? >> absolutely. it is possibly the most unloved dollar bull ever. tom: i agree. the flipside is that people hurting are in the emerging markets. emerging markets are going to give us yields, returns, and this dollar run has scuttled that. every question i get is not how much further can do some bull run go. it is, can we sell it now? tom: i want to talk with you about amplitude. goes you don't know what you're talking about. what is your move in dollar-yen? big figures or a subtle move? >> small. tom: that is a distinction. >> some of the forces playing for the dollar are global trade were tensions and should be supported in the end. , thearket excepts the end boj is not

hsbc. tell us about this story.ia with their camera phones and i‘m sure we would have had photographs of these people having their gluttonous power lunches! you have to be powerful to have a power lunch and i have an ordinary lunch and if i am very lucky i have a delicious one. to have a power lunch you have to be powerful. this idea of being ostentatious and going out and splashing it and loading it, that‘s gone. it doesn't have to be expensive, does it? to be productive. you have to be powerful to have a power lunch. those are done within the offices of building. fine dining, if you would like to come one day at hsbc, will close the door. we can have a lunch. the point of this article is notjust about the lunch. it‘s about the fact that bonuses are back, the idea of austerity in the wake of the financial crisis, that businesses had to look like they were being a bit tighter with their budgets. they are saying that that‘s gone. there are saying that that‘s gone. there are bonuses back, high living is back on wall s

hsbc, bnp paribas, ing becoming embroiled as well, and then that unsavory affair with one of the baltic banks, ablv, latvia's third largest. would you like to know how many staff the anti-money laundering at the banking authority have? two. two staff. now it's up to ten quite appalling. let's move on, china has been quick to respond to the latest u.s. escalation in the trade war. according to a front page article in the peoples daily newspaper the chinese government says it will use the tensions with the united states as an opportunity to replace imports and promote localization the former pobc governor said exactly the same as this, we will change how we do business that's the message coming from china. we will change who we do business with as well. that's a theme i picked up in barcelona the last couple of days this after beijing imposed a 5% to 10% tariff on $60 billion worth of american goods. over 5,000 products are targeted ranging from agricultural to industrial so next monday at 12:01 beijing time these will take effect. >>> china's u.s. treasury hole g i -- holdings, i wonder

hsbc has apologised and said it would offer better training to staff.ne. there is a responsibility to banks, especially one calling that self a local bank to make sure that employees are aware of the situation. the hollywood star will smith found a way to celebrate his 50th birthday in style —— by bungee jumping out of a helicopter. the stunt was in aid of highlighting global poverty, as tim allman reports. it‘s an age—old dilemma: what do you get the man who has everything? a nice bottle of scotch, perhaps? or maybe a comfortable sweater? well, if you are a hollywood superstar turning 50, you treat yourself to an unforgettable experience. will smith strapped to the side of a helicopter, rising up above the grand canyon. it seems his ideal birthday present is a little death—defying. the bungeejump to end all bungee jumps. he may have fought aliens, robots and gangsters, but he is not going to beat gravity. his wife and his family looking on, the actor seemed a little uneasy. but eventually, it was time to make the leap. down he went, the crowds cheering

where you see hsbc getting -- now both 5.8% dividend yield.e in hong kong is the place to be buying. yvonne: despite fears of rates going up? going up, the most obvious sector is the property sector. people have so much money and their parents have so much money, you will find it won't be that bad for the property sector. they are perennial short of supply. yvonne: we know. rishaad: yes. on affordable at best. yvonne: singapore is the same. >> much less. yvonne: not as bad. rishaad: you get the space there. you are sticking around. yvonne: of course. let's get to first word news with paul allen. president trump it standing by his supreme court nominee brett kavanaugh after a day of emotional testimony on capitol hill. trump tweeted cap not was "powerful honest, and riveting," accusing the democrats of a total sham. the senate will vote friday morning. hispoke after one of accuser said she was 100% sure it was he who attacked her in high school. >> i don't have all the answers and i don't remember as much as i would like to them up at the detai

one of our producers pointed out hsbc and standard chartered have big exposure in hong kong.hese bank stocks also could see the lending rates, the hong kong prime rates, raise very soon. watch hsbc, watch standard chartered, and watch any company that has a lot of sales in hong kong. they just got more valuable. anna: we will watch that. on the smaller cap side, we will story, also the u.k. engineering space. thanks for joining us. we will be back with the market open next. ♪ anna: we are less than a minute away from another trading day. market let european us look at the positioning. we have a fairly seismic move in euro-dollar. we continue to watch what happens in algeria. an important meeting. president trump has been tweeting about it. bake gains. gains in china. asian stocks with their biggest two-week rally. we have a little bit of weakness coming through on the pound. things did not go as expected for theresa may. the newspaper suggest she has had a bad 24 hours. this is what the futures look like at the start of the trading day. looks like we could go a little higher.

hsbc has a news conference coming up in an hour and they could be announcing a change. has certainly not gone out that well carried 15% down on the back of the retail side of this, which was under subscribed. that is on the way down. we are talking to the ceo in under half an hour. stephen engle's down at the exchange. it does put pressure on mortgage holders and so far, a little , butmmittal for shire moving in other directions seek assets and henderson lined. giving you a taste of what is going on in hong kong. >> lots to look ahead to. in the meantime, the first word news with paul allen joining us from sydney. china denies attempting to interfere in the midterm elections, dismissing claims as nonsense. president trump made the assertion at the un security council after beijing placed an ad in iowa newspaper attacking his trade war carried it called the fruit of a presidents holiday. -- president's folly. china has always follows the principle of noninterference in other countries domestic affairs. this is a tradition of chinese foreign-policy and our observance of t

itsette: hsbc has raised main lending rate in hong kong for the first time in more than a decade.he move closes off an era of ultralow borrowing costs that sent property prices skyrocketing. the london-based bank boosted its best lending rate hours after the hong kong monetary authority raised it is mark interest rate by what he five basis points in line with the fed. u.s. president donald trump has said he and his chinese benterpart will -- might not friends anymore. he accused beijing of trying to interfere in november's midterm election. you made a significant allegation against the chinese government, you suggested that the chinese had meddled in or are meddling in the midterm elections. what evidence do you have? president trump: we have evidence, it will come out. i cannot tell you now but it did not come out of nowhere that i can tell you. they have admitted they are going after farmers. juliette: brett kavanaugh has been accused of the most lurid sexual misconduct yet as senate republicans press ahead with plans to hold a hearing later. he was partr said of efforts during

joining us now is the global head of currency strategy at hsbc.o have you with us very -- to have you with us. $200 billion of chinese goods. this support your dollar bull view, doesn't it? >> this is not how i want my story to pay out, but this is why you could easily go risk off . the dollar is the best currency to have at the moment. nejra: we talk a lot about dollar strength so far this year. if you look at the bloomberg dollar index you saw strength toward the end of june. it has leveled off. >> not in august against emerging markets. we had some gains or falls in emerging-market tariffs. it seems when g10 is stable, e.m. is on the move. that is a very unusual mix of the moment when you have this massive volatility in emerging markets, but it has not affect the g10. the dollar is taking turns. it takes on one at a time. it seems to be picking and choosing as it goes along. one of the victims seems to be the brazilian real. that is part of the dollar's rotation. nejra: you are going against consensus with your bullish view on the dollar. >> th

fe european economist at hsbc abio berboni is still here.get a unanimous vote to work today? is unusual to have a degree of unanimity for a rate hike. a couple of times it did happen before the financial crisis. in our view ultimately that reflects the huge degree of uncertainty that there is at the moment on where the u.k. economy is going with brexit and with many unforeseeable events in the future. themately as we do expect unanimity to kidney -- continue. the committee was clear about the degree of forward guidance and that the market was a little bit too dovish and we do not expected to change but maybe there could be one or two surprises within the council. nejra: what kind? are looking for defections, that is where we would be looking. r centro cases it would be unanimous because everyone has made it clear they had an -- a hike in august. nejra: what about brexit, we have had positive news on the outcome of a potential deal, could that mean a slightly more hawkish tone to snake -- and to the signal? were expectingy already had a sligh

hsbc has lifted its lending break in hong kong. we have of the stocks been watching, indian consumer stocks getting a boost after investors are viewing a government move to raise import taxes as beneficial to companies bottom lines. you have seen health care stock in hong kong suspended trade. before pairing to that 27% drop. that has liked a billion dollars off the company's market cap on the back of it anonymous report coming through from a research group on chinese state media. in singapore you are seeing telcos fall. this is on a takeover offer from one of the rivals coming through. rising the most since 2009. manus: thank you very much. let's get back to our top story. jerome powell gave an upbeat assessment of the economy. >> our economy is strong. growth is running at a healthy clip. unemployment is low. the number of people working is rising steadily. wages are up. inflation is low and stable. all of these are good signs. that is not to say everything is perfect. the benefits of a strong economy have not reached all america

tsb and hsbc are hit by computer glitches.necting — it's the latest in a string of it outages for the high street banks. the competition and markets authority says it will carefully consider concerns that loyal customers are being ripped off for mobile, broadband, savings, home insurance and mortgage deals. us billionaire and tech entrepreneur elon musk has been charged with fraud by financial regulators. they allege the boss of tesla deliberately misled investors this year when he tweeted that he planned to take the electric car company private by buying back its shares. mr musk has called the action ‘unjustified' — saying he has always acted in ‘the best interests of truth, transparency and investors‘. the charges could see him barred from running a public company. billions of dollars were wiped off the value of tesla shares. joining us now isjim edwards, founding editor of business insider uk. give us your take on the s e c's findings? this is like a textbook case of how not to ac0. if your company is public, and you trade

hsbc did the same.wo banks were in every where in the world and now they are in very few countries. but in the countries they stayed like mexico for city -- they are trying to be more important. morething and make -- grab more market share in those places. vonnie: any concerns the so a big loss for citi? on is always a loss, but there are new people that will take their places and usually, that is not a problem unless this is happening in the middle of the crisis. ago, when you see an opposing party in the middle of those, you get scared because you need a good guide to take care of those. this is a good time for citi. they work so hard, they need to go on. the new person was replacing him donetually -- has actually a great job of getting rid of the legacy assets. that was very important for citi, and there is a big chunk of things to get rid of, and last year, they did that. it was a great move. great reporting a senior finance reporter for bloomberg news. thanks. still ahead, tune in. we are going to

tim burke work sources say global lenders including goldman sachs, and hsbc and jpmorgan will be providing the loan. last year it was willing to borrow to diversify the economy and boost investment returns. bob woodward's book about chaos in the white house sold out on amazon just hours after its release. it's now only available through kindle and other audiobook as amazon rushes to restock. pick upiest buyers can a hard copy is september 26. barnes & noble says fear is available at its stores and customers will receive orders on time. global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. jessica summers. this is bloomberg. canada is poised to release of blueprint to reform the deputy oh in order to create a buffer from u.s. protectionism. president trump has threatened to leave the organization entirely, prompting canadian trade officials to work up a draft of the proposal called strengthening and modernizing the wto. more from our commerce editor. not surprising that we've seen things stalled in the de

hsbc and jpmorgan are providing the loan. it is said to be priced at 75 basis points over libor before fees. they said last year they were going to borrow to diversify the kingdom's oil dependent economy and boost investment return. fear is proving incredibly popular. bob woodward's book about the amazonouse sold out on just hours after its release. it is now only available through kindle and other audiobooks as amazon rushes to restock. earliest buyers can pick up a hard copy september 26. barnes & noble says fear is available in stores and customers will receive orders on-time. global news, 24 hours a day on air and @tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. anna: thank you very much. up next on the program, hurricane florence expands on its approach to the united states east coast. we look at the impact on commodities. that is next. ♪ >> i was traveling from zurich to frankfurt when i got a call from our u.s. head telling me it's over. that was the w

hsbc has apologised and says it will offer better training to staff. sian lloyd reports.w he moved house, the reply came as a shock. they had sent me a message saying that this was written in a foreign language, and i think it reflects very badly that welsh can be called a foreign language in wales. i said i will be referring this to the welsh commissioner, and in the meantime i would like an apology and i would like my original message to have an appropriate reply. hsbc have apologised, claiming that mr lovgreen's e—mail had not been identified as being in welsh, so the welsh language team hadn't dealt with the issue. they promised improved training to prevent a similar matter arising in the future. the welsh language commissioner said it was disappointing to still see examples ofa disappointing to still see examples of a lack of understanding and provision by some banks for welsh language customers. she will be meeting senior banking managers in the near future to discuss these latest complaints. sian lloyd, bbc news. the leaders of some of the uk's largest universities

hayes downgraded to hsbc. that's part of the story. there's a mining company. embattled metals, nicole, copper -- nickel, copper, aluminum, think, we see them battle. matt: european markets across the board. the latest move to place tariffs on chinese goods, and really the chinese refusal to meet up with u.s. treasury secretary steven mnuchin according to the wall street journal. joining us is jeffrey you, head of u.k. investment office for ubs wealth management. towe get closer and closer real movement on a resolution in brexit, we can also see trade tensions rising to levels we haven't seen in recent years. what do you make of donald trump's trade war? guest: i think right now markets are trying to determine which is less surprising rather than more surprising. right now in terms of the trade war, trump wants to air on the cautious side rather than anything speedy. i know there's this narrative 're heading into the midterms, this is a tactical ploy. if you look at the rhetoric coming through, volatility is going to drive things for come. anna: just a word on

a bank customer has complained after hsbc returned a letter to him asking him to resend it in englishto his bank in welsh, informing them of a change of address. he has complained to the welsh language commissioner after the bank told him that they could not respond to his letter because he had written it "in a foreign language". it's been three days since benny the beluga whale was first spotted in the thames — and whale watchers are waiting to see if he's made his way back to sea. animal welfare groups say they've had no major concerns about the mammal, which was first spotted on tuesday and that he was last seen "swimming strongly" close to the kent coast. fingers crossed. that's a summary of the latest bbc news — more at 9.30. thank you, annita. lots of ways of getting in touch with us throughout the morning. let's catch up with the sport now. good morning. troubles continue at manchester united. is the club big enough manchester united. is the club big enouthose manchester united. is the club big enough jose mourinho and manchester united. is the club big enouthose mourinho and p

bloomberg sources say hsbc and jpmorgan are providing the loan. , it was willing to borrow to diversify ask the wto for anti-dumping regulation. they ruled in certain factions they broke the rules. five days later, washington admitted it had not complied. the earthquake last week's exec -- is expected to push up consumer spending. pricesvegetable contributed to economic infraction. global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. >> thank you so much for that. the exuberance, the long side could be caught out. .et's get thoughts it would be -- is great to have you with us. despite a lot of people saying we might see weakness positioning in the markets, pretty much higher, so is the market place for a correction? that? expect >> i think the dollar continues to be well supported and also the concern around trade. when we talk about these changes , we typically look at three things. all 3, 2 are in place. own dollars,t our it is almost 80 years high. in terms of positioning, what we are really lacking is a catalyst. potentially be presid

there were eight banks over $100 billion in 2007 today only one of that size exists that's hsbc. about the workings of the banks themselves returns fell from a precrisis average. higher capital levels weighing those down they are now back to double digits the average last quarter was 12%. it was that costs are down dramatically particularly in the last five years thanks to closing branches and using technology to drive efficiencies big u.s. banks are doing pretty well certainly relative to europe >> the j.p. number you put out there is kind of eye popping >> yes before the crisis about 180 billion now close to 390 billion. so almost doubling if you think about the big u.s. banks today bank of america are the global and most of the europeans having to focus on spe specialities so u.s. banks have come out much stronger than the others be sure to catch the documentary crisis on wall street, the week that shook the world tomorrow at 10:00 pc.m. eastern time >>> another area, the housing market the home builder up nearly 400%. joining us now to discuss more on the future of the housin

. >> i justot my first job in new york c at hsbc bank. >> i like to dance. >> could we see some moves?ee you want to pepper go? what do you got? ♪ oh, yeah. look at that. o.pper did his drake in my feels, i will show you that video in a bit. we have a dog ibo, over .here we have studio 1a fild with them, robot revolution. we will continue. news.ook at your local >>> this is a news4 today news break. good morning. s on t friday, september 2018. i'm aaron gilchrist. a check on the morning commute. melissa mo has your first4 traffic. good morni. right now in aspen hill northbound georgia hewitt some lanes block bec of a crash there. southbound well. taki a look at the beltway, pretty typical looking there right now. 270 going southbound through rockville. all right. melissa, thank y y. a look ar forecast w. >>> good morning everybody. an area of rn along i-th5 south of the city. southern washington, prince geor and southern ma in ex in line for light rain this morning northern half the d.c. area not getting rain on yet.ur tempern the upper 6

>> i just got my first job in new york city at hsbc bank.e directions and products and services. >> that's good for work. pepper, what do you do for fun? >> i like to dance. >> can we see some moves? you want to see pepper go? what do you got? ♪ oh, yeah. look at that. pepper did his drake "in my feelings," too. we have a dog, ibo over i )m ki for the last 26 minutes, people >>> very cool. good morning. it is 8:26. for the last 26 minutes, people have been buying up apple's newest products. apple stores opened their doors at 8:00 a.m. today to sell the newest iphones. this is the store in uptown palo alto. usually a lot spot for people lining up overnight for the new releases. the first person in line got their tuesday night. apple unveiled three new iphones last week. the new apple watch comes with the first ever over the counter ecg which can detect irregular heartbeats. now a look at the commute. >> they got a new model. trade up now. this is a live look. this is north 88 0. you see traffic on the right lanes here, just about the truck sc

global lenders, including goldman sachs, hsbc, and jpmorgan are providing the loan.t is said to be priced at 175 basis points. -- is proving incredibly popular " is proving incredibly popular. bob woodward's book has sold out in its first week. earliest buyers can pick up a hard copy in september. barnes & noble says the book is available in its stores and customers will receive orders on-time. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. francine? francine: thank you so much. unionk. and the european are said to be preparing for a special summit in november to sign a brexit deal. bloomberg has learned that several key issues still have to be resolved, but brussels is ready to schedule a one-off gathering so leaders can actually formally agreed to terms of the split. plans for the summit may be officially announced at an eu meeting in austria next week. sterling has risen in optimism about the deal but how likely is an agreement and what does it mean for the markets? j

hsbc saying it could last a while. look, you cannot rule out $100 for brent. get stuck. thank you so much. let's get more on oil. herepec secretary general talking about what the impact owe theve actually cartel for current demand. >> as a consequence of this downturn, we have seen the inrpest construction investments across the supply chain for two consecutive years of more than 25% each. in thelative terms, region of over $1 trillion u.s. impact, not only in our ability as an industry to meet current demand, which at the moment is robust, despite some of the headwinds. but in the medium to long term. demand itself is beginning to face some headwinds as a result of extraneous factors. we have little or no control over. we are looking forward to continuing to work to not only to strive to maintain balance between supply and demand, and ensure that this equation remains favorable not only for producers, but also for consumers. our ultimate objective as a producer group is to see that, despite the urge for diversification for the sources of energy in which our m

today only one remains hsbc remains in that size.ks themselves balance sheets are much stronger thanks to stronger oversight and regulation more on that topic tomorrow. returns plummeted post-crisis from a pre-crisis peak of around 15% r.o.e. weighing down r.o.e.s since the crisis but they're now back to double digits the average last quarter was 12%. the saving grace for that recovery in returns is that costs are down dramatically. particularly in the last five years thanks to closing of branches and using technology to drive efficiencies for all the scares ten years ago, the big u.s. banks are doing remarkably well. certainly relative to europe >> thanks, wilf. >>> joining us now with a look at how wall street missed the signs of a coming crisis, sallie krawcheck ceo of elevest she served as ceo of citi wealth management from 2005 to 2008 and then was ceo of merrill lynch wealth management from 2009 to 2011 you've got some interesting thoughts you were in the trenches, obviously. >> that's these wrinkles here, and these wrinkles he