my colleague michelle fleury sat down with kristalina georgieva for her first interview in her new rolears ago you were much more upbeat on your forecast for the global economy. now the imf sounds more pleasant mistake. what happened in these two years is that we moved from a synchronised upswing, 75% of the world growing faster, do a synchronised slowdown, 90% of the world economy slowing. and when you look at the many reasons, these are fractures in the world economy that are holding growth the bark. and you have pretty pessimistic numbers on how the trade dispute between the world's how the trade dispute between the worlds to two largest economies are affecting world growth. we see by 2020, a loss of 0.8% of global gdp, this is the equivalent of $700 billion. and what is most significant is that it is not the direct impact of tariffs that are most harmful, most harmful is the loss of confidence. what is so clear is that everybody loses. we are expecting trade talks to resume, what advice do you have do offer to these huge two trading partners?” personally see criticality of recognisi

michelle: kristalina georgieva, new managing director of the international monetary fund, thank you so much. ms. georgieva: thank you. laura: just imagine if your job was to explore the earth's final frontier. that is the case for one of the world's most famous cave divers. she is the first person in to dive deep into an antarctic iceberg and to lead a team which discovered the waterway remains of mayan civilizations she has written about her adventures, and recently she spoke with us. >> a lot of people think i'm some sort of fearless adrenaline junkie, but i am not fearless. i'm scared all the time. i led the team to be the first people to go cave diving inside an iceberg. we d that in antarctica, so far away from help that there is no one to rescue you if something goes wrong. during those dives inside this unbelievably dangerous and shifting environment, we got pinned down by a ripping current that was like trying to walk against a hurricane-force wind. there we were underwater, underneath an iceberg, trying to swim against a current that was too strong to make any headway to get o

. -- with a new imf managing director, kristalina georgieva. georgieva.e couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy an eligible phone. call, click, or visit a store today. ♪ romaine: live from new york, i'm romaine bostick. guy: and from london, i'm guy johnson. this is "bloomberg markets." let's catch up with bloomberg first word news. viviana: the trump administration is find the later shot in the trade war. the u.s. is moving ahead with talks on restricting capital flows into china. there is a focus on limiting chinese stocks for the pension fund. in september, one measure of the wholesale level falling by the most in more than four years. last month excluded food and energy and prod

and that is the new chief of the international kristalina georgieva monetary fund,, speaking earlierngton. expressing support for the hong kong protest could be bad for business. a recent tweet from the houston rockets general manager drew criticism from beijing. the national basketball association's commissioner adam silver came out and defended his right to freedom of speech. now the china state broadcaster says it won't add the nba preseason games. global brand expert stephen mcguinness says the question is should the mbia apologise to beijing? the nba china deal, it is big for the nba. $1.5 billion. and they are a very popular team in china. it is the latest of a lot of incidents, cathay pacific apologised for a tweet and fired people, nikkei pulled shoes from their collection because of a designer, the gap apologise for a t—shirt. it is standard practice. a celebrity or somebody says something, they backtrack, everybody says it is silly for the company to do. but what is more important, the principle of freedom of speech or locating the chinese market any money involved? what is

i have been speaking to the new chief of the international monetary fund, kristalina georgieva who tolde 66—year old bulgarian economist, who was previously chief executive of the world bank just across the street, highlighted the dangers these trade tensions pose. what we're seeing by 2020, loss of 0.8% of global gdp. this is the equivalent of $700 billion and what is most significant is that it is not the direct impacts of tariffs that are the most harmful, most harmful is the loss of confidence. what is so clear is that everybody loses. and christian, as a result of the trade war, the imf — the international lender of last resort — will next week once again downgrade its global growth predictions for 2019 and 2020, blaming trade wars and rising political tensions. you caught up with her after her first speech as managing director of the fund. she's taking over from former french finance minister christine lagarde, who left to become the next president of the european central bank. what else did you talk about? presumably one of the big uncertainties facing the global economy is brexi

the head of the imf, kristalina georgieva, has welcomed progress in trade talks between the us and chinao be done to resolve the issues that divide them. economists estimate that new tariffs and taxes will knock about $700 billion off the world economy next year. more than 2,000 oarsmen have rowed 52 boats down bangkok's chao phraya river in the first full dress rehearsal for the royal barge ceremony, the final chapter of the thai king's coronation. the coronation ceremonies of king maha vajiralongkorn — the first new king of thailand in 70 years — started back in may. turkey has agreed to a temporary halt in its offensive against kurdish fighters in north—east syria. the deal came after talks between turkey's president erdogan and the us vice president, mike pence. turkey says it will pause its advance for five days, to allow kurdish forces to retreat from a 20 mile zone on the syrian side of the border. president trump, who's been widely accused of giving the green light for the offensive, described it as "an amazing outcome". our middle east editorjeremy bowen reports from ankara. the

the head of the imf, kristalina georgieva, has welcomed progress in trade talks between the us and chinaed that more needs to be done to resolve the issues that divide them. economists estimate that new tariffs and taxes will knock about $700 billion off the world economy next year. protests have continued for a fourth day in barcelona after senior separatist leaders were given lengthy prison sentences for their part in the 2017 independence movement. trade unions have called for a general strike on friday. tributes have been paid to veteran us congressman and civil rights leader elijah cummings who has died aged 68. as chair of the powerful 0versight committee, the maryland representative clashed a number of times with president trump. house speaker nancy pelosi said congress will miss his wisdom, his warm friendship and his great humanity. more than 2,000 oarsmen have rowed 52 boats down bangkok's chao phraya river in the first full dress rehearsal for the royal barge ceremony, the final chapter of the thai king's coronation. the coronation ceremonies of king maha vajiralongkorn, the f

kristalina georgieva said it will hurt not only the uk and european union, but also low income countrieswas not warned that one of its anti—psychotic drugs could cause him to develop breasts. the case taken by a 26—year—old man is one of thousands pending in the state of philadelphia. full why would you want to go on holiday abroad when you full why would you want to go on holiday abroad when you can full why would you want to go on holiday abroad when you can just stick here in?! anyway, let's stick with a travel theme. what makes hays think it can succeed when thomas cook could not? a good question. many have been writing thomas cook's travel agency offers the weakest part of his business. hays clearly have confidence in the future of on street real travel agents. and as we said, they were not the only people interested. there were other bidders interested. there were other bidders interested in the shops. hays reportedly the only people interested in buying all the shops, and today, its leaders said it does not intend to close any of them at this stage. and of course, in an area with

kristalina georgieva, says trade disputes are weighing down on growth.tic assessment. we move from a synchronise upswing, 7596 we move from a synchronise upswing, 75% of the world growing faster, to a synchronise slowdown. 90% of the world economy slowing. and when you look at the many reasons, these are fractures in the world economy that are holding growth back. and you have pretty pessimistic numbers on how the trade disputes between the world's two largest economies, eat the us and china, is affecting the global economy. what we are seeing is by 2020, loss of 0.8% of global gdp. this is an equivalent of $700 billion. and what is most significant is that it is not the direct impact of tariffs that are most harmful, the most harmful is the loss of confidence. what is so clear is that everybody loses. we are expecting trade talks to resume. what advice do you have to offer to these huge two trading partners?” personally see criticality of recognising that different countries have different grievances around trade. and that we have to take —— talk candid

kristalina georgieva said it will hurt not only the uk and european union, but also low income countrieshat one of its anti—psychotic drugs could cause him to develop breasts. the case taken by a 26—year—old man is one of thousands pending in the state of philadelphia. heard that plans to re—employ a signifcant number of the 2,500 it's not often you get a bit of good news, but today we've heard that plans to re—employ a signifcant number of the 2,500 thomas cook shop staff who lost theirjobs when the firm collapsed last month. hays travel is buying all 555 thomas cook high street shops. it's also offered to help all of the thomas cook apprentices complete their training at its hays travel academy. travel expert simon calderjoins us now — between flights — at dubai airport. thank you for being with us today. it really is an incredible vote of confidence in what many people had written off as a dying industry. most certainly one of the things that came out of the very sad colla pse that came out of the very sad collapse of thomas cook 16 days ago was the fact that people really like talkin

francine: that was the new imf managing director, kristalina georgieva.et straight to the bloomberg first word news. goinga: the lights are out in parts of california. utility pg&e cutting power to millions of people, most of the san francisco bay area, plunging into darkness. it triggered a scrabble for residents to prepare for what could be days without power. for pg&e, there is no choice. it is a key strategy to keep powerlines from sparking, spreading wildfires. and more breaking news. turkish troops began crossing into syria moments ago, according to a turkish government official. the move is intended to force to.-backed kurdish militants back away. china says it is making excuses interferingon and with its internal affairs. it is the latest and escalating tit-for-tat battle between washington and beijing. trade talks are set to restart tomorrow. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more i'm vivianantries, hurtado. this is bloomberg. francine? francine: let's stay with the

. >> a very good morning, guys thank you for that, kristalina georgieva is here with me. nice to have you with us on cnbc if i may start by asking about the brexit breakthrough we seem to have here markets are encouraging, the pound is strengthening, the ftse is higher, yet there are plenty of political opponents lining up to say that they will vote this down at the parliamentary session on saturday. what words of advice would you give those lining up to reject this deal? >> we need to look into the implications of disorderly brexit, brexit with no deal. in april, the front published the analysis it has done, and it is very simple very expensive for the uk. if there is no deal brexit, that would cost the uk between 3.5 and 5% of gdp. and it would also cost the eu much less, some half percentage point. so is it in the interest of the uk, primarily, the interest of the eu, and of course, the whole world, that there is a deal. jean-claude juncker said, when there is a will, there is a deal now, we have to see whether this will can really hold >> the arguments for investors,

cheryl: in an interview on axios, kristalina georgieva calling president trump brave for cutting taxes give credit to the leadership here, in united states is one of the better performing economies and it is because it had the bravery to use a tax reform to spur more growth. cheryl: well, she replaces christine lagarde who is going to become the president of the european central bank. amazon's alexa making your life a little easier again. the company's partners with fin tech company paymentus to allow customers to pay utility bills using the voice assistant. alexa will tell users when bills are due and you how they compare to previous months. they hope to have the feature enabled in 95% of zip codes by the end of premarket, down almost 1%. when i saw this, i thought of you. kurt cobain's iconic sweater sold for $334,000 over the weekend. the cardigan was worn during nirvana's mtv unplugged performance. reportedly it wasn't washed since. it was here in studio ahead of the auction last week go we estimate it 2 to $300,000. we sold it one other time at 1 140. kurt's value has sk skyrocket