i'm francine lacqua in london with guy johnson. i sound like tom keene. guy: it turns out that i am sitting in for francine lacqua whose got laryngitis. tom keene is off for thanksgiving. happy thanksgiving, by the way. he's projecting onto you. francine: here is the bloomberg first word. fry mints french minister says it is possible the terror attacks could affect the country's economic growth. will meet hollande vladimir putin and moscow later for talks on tackling the threat posed by a mcstay. after the french leader yesterday pressed angela merkel for grearter commitment. david cameron will large prominent to back his plan to extend british parliament attacks on islamic state into syria. it is a move that is likely to split his conservative party and the opposition labor party. yesterday, he told mp's i.s. presents a clear and present danger. industrial metals have surged after chinese regulators were said to be considering a program to shortselling. nickel, copper and zinc have rally. the euro has had a seven-month low as investors speculate the euro

i am francine lacqua. us.s: it is a big day for it could be a monumental day in terms of the jobs report. analysis as the case of whether or not janet yellen will pull the trigger in december could be made after today's jobs report. francine: bank of england governor mark carney weighed in on the debate. he spoke to us exclusively yesterday and expressed confidence in the fed. governor carney: the u.s. economy is performing quite well in a new normal sense. this is not the u.s. economy of precrisis years. what matters most to our timing is the reasons why u.s. monetary policy adjusts. so we would expect u.s. monetary policy to adjust because that economy is continuing to grow. there is reflation. >> this recovery in the u.k. started after the recovery in the u.s. we are catching up. we are now at a point where we have more or less leveled -- in terms of too much of growth. we will take our decisions. we are informed by what happens in the u.s. it matters for our economy, but we will take our decisions base

♪ francine: welcome to "leaders" with me, francine lacqua.earson is an international publishing company with its biggest businesses in education and books. earlier this year, it sold two of its most well known brands, the "ft" and "the economist." in an exclusive interview, i speak with the group's ceo, john fallon, about his vision of the company and the impact of selling those established brands. thank you for speaking to bloomberg. we have been talking about the "ft" sale for as long as i can remember. when did you decide it was for sale? john: i think there wasn't a single moment. i think it was a progressive process, really. that i have said all along, and it has always been important to me, to ask ourselves honestly are we the best owners of the "financial times" for the longer term? pearson have been fantastic owners of the "ft" for 50 years. i think we have been great guardians of the editorial integrity and the quality of the journalism, but we'd also helped the "ft" to become global, to make the initial shift from analog to digital.

to london, and here is francine lacqua.g us now managing partner on the future of france. thank you for coming on the show. when you look at france, the market reaction has been muted, but the repercussions from the fallout we saw on friday will be first of all on the political scene. are you worried that france will become radicalized and more in stream -- and more extreme as we head into an election? >> there are local, regional elections in three weeks. if the government does not step up with the measures that are most required and expected from the french people, from public opinion, i think there will be the risk that the french will be radicalized. francine: what does it mean for france? brice: the french economy will be quite muted because the french economy is diversified, and if you look at what happened after 9/11, if you look at what happened in 2005 in london and 2004 in madrid, the impact was minimal. francine: madrid was a long time ago, but now we have a divided europe that cannot speak with one voice. angela

i am francine lacqua, from a very foggy london town.sh airways is canceling within one 200 flights. london city airport are actually close. do not travel unless you have confirmation that your flight is operating. time for tom's morning must-read. tom: let's look at a great morning must-read. this is fabulous. fabulous. this is literally so good, it should be in the cfa level one curricula. read the whole damned thing. it is absolutely superb. read, read, read this. it is great. she goes after merrill lynch and ubs collegially. steven wieting, you and i know this. gap, gap, gap. explain to mere mortals why so much of wall street adjusts the proper rules. they do not do this with mets baseball, do they? steven: you have to look at all the numbers. life is complicated, and sometimes things that build up over years, when you readjust evaluation on the balance sheet, you say that we completely miserably failed this quarter on generating income. take a look at government numbers. the corporate profits concept analysis ofnomic europe uses is

i'm francine lacqua. manus: and i'm manus cranny. janet yellen has indicated that 2015 could be the liftoff. we were about to talk about the fed. francine: we have the decision of the norwegian central bank. it has kept its rate unchanged. -- talking with the central bank governors later on. manus: 2015, is it liftoff, is it not? the federal reserve chair has said that the december rate hike is a possibility. ms. yellen: what the committee has been expecting is that the economy will continue to grow at a pace that is sufficient to generate further improvements in the labor market and return inflation toward our 2% target over the medium-term. informationncoming supports that expectation, then our statement indicates that december would be a live possibility. importantly, it would make no decision about it. francine: investors bet on a december rate hike, more than 20% higher than they were a month ago. this despite one u.s. lawmaker's tweed. god's plan is-- not for things to rise in the autumn. that is why we call it fall. nor is it

tom: i'm going to steal a chart from francine lacqua.s upset in europe with how i pronounce her name. we are going to talk about the collapsing crisis and a modest and gentle rollover. global gdp, 2.9%. that is a 2% markup, that redline. professor, it is the idea that we are searching for a new dynamism, a new dynamic. where is it? catherine: good question. if we knew where it was, we hopefully would already have done it. if we look at the combination of countries and the magnitudes of the various country groups, we really need to have europe back on track, growing faster than the projection of 1.8% that is better, but it is actual -- absolutely too slow for complacency. consumption and exports. the euro depreciation has been very positive for supporting exports. there is a concern that the ,ittle bit of an uptick in euro of course it depends on investment coming back, it depends on structural reforms being put in place -- the policymakers cannot be complacent. they've got to keep making these reforms, putting together the package of fis

>> here in the french capital, from watching live paris, francine lacqua. deadly siege together with an al qaeda off shot. another extremist group is claiming credit for attack on a hotel. the french house votes to extend the national state of merge is i for three months. at an emergency meeting in brussels, the french minister calls on his opposite members to share more information and intelligence. >> good evening, we begin with an lateest from mali, where islamic extremist organization has claimed responsibility for an attack on a hotel in mali. according to the latest report at least 20 people were killed in that attack on the radisson blue hotel. the siege lasted several hours. forces from france and the united states helped the forces free guests from their rooms. >> evacuated, dozens of staff members were freed from the radisson blue hotel. the ordeal started hours earlier in the morning when a group of islamic extremists stormed the hotel. the militants entered the site when a diplomatic car was driving in. they shot at people in the lobby, threw gr

tom: francine lacqua, save travels as you migrate over here.ard to seeing you monday morning. will aboutonna and her, thank you so much. withg up, we continue "bloomberg ." stay with bloomberg. ♪ david: the valeant headache continues. so far it has cost the hedge fund $40 billion. what bob eiger had to say about the future of television. and your bentley has gone digital. want to customize your new $300,000 car? there is an app for that. david: welcome to "bloomberg ." i'm david westin. stephanie: i'm stephanie ruhle. it is friday morning. we are wrapping up our fifth week on "bloomberg ." david: day job numbers coming out. stephanie: we have a lot to cover. guest is also a fantastic singer. we might get him to sing later in the hour. termeff just coined the prince

i'm francine lacqua. let's get straight our top story of the day, to paris. we know that at least two people are dead as french police have raided an apartment in the anurb of saint-denis, in operation linked to last week's terrorist attacks -- five have been arrested. first, keep us up to date with what is going on -- the manhunt is ongoing for accomplices. ongoing.the manhunt is we have got the operation was over but we are told that one person is still hold up. we are outside a police cordon. said, five people were taken into custody, two killed, one a woman who blew herself up. andalked to residents, they'll reported the civic spirits -- they will up to the sound of an explosionand were told to stay inside. behind me, what should be a busy pedestrian zone, all shuttered. schools are closed. one resident said they saw things as early as last night though we don't have that confirmed. one butcher who was already up at 3:00 heard the explosion and at a left -- he went inside and turn on the television. this is: brendan, weongoing investigation, and are still

i am francine lacqua in london with tom keene in new york.nnouncement.ant i noticed the 30 year bond in the nine it states is trending 3.00%. in november? is that a live possibility? francine: in the u.k., that is unlikely. the debate is why would you not wait for the fed first? tom: i barely got any sleep so i am a dead possibility today. there is so much anticipation from tom keene about what mark carney will say. let's get to the bloomberg first word news. good morning. it is super tuesday for the bank of england. the minutes of its monetary policy meeting will be released. governor carney will release his final quarterly inflation report of the year. the possibility that upon caused the crash of the russian airliner is putting a new focus on airline security in egypt. there was a security breach in may in the airport with a flight started. government forces are fighting --itants linked to you linked to the islamic state and the region. in russia, the first of the crash victims is laid to rest today. all 224 people on board were killed. su

tom: jane foley of rabobank with francine lacqua in london. i at asia see the currency war. can you describe the weakness in adxy, the asian dollar index. jane: some are linked to commodities. a lot of these dragged lower. japan, another weak currency. perhaps it is quite interesting at this point to look at the renminbi. in the last few years we have the renminbi relatively strong. pulled up by the de facto dollar peg. against a, country which has been slowing you have weak inflation. if that was the eurozone or japan, we would have to weaker currency. yet we've had a relatively strong renminbi. does that mean the renminbi is going to weaken? tom: you are reading my script, you got to stop looking at my notes in new york. and i at yuan-renminbi see a devaluation and a managed depreciation, 7-8 days in a row of depreciation. does beijing joined the currency work? ar?w jane: the market reaction when they did the evaluation august 11 was huge and it had an impact on risk appetite. china supported the currency. if you look at the data over the ne

if francine lacqua here to covered with us.coming off the victoria's secret show last night so with a bit of a tire day. i was in the audience, obviously in the audience. [laughter] stephanie:

i am francine lacqua it manus: i am a manus cranny. we have breaking data. manufacturing comes in at 52.8. that needs on the headline estimates -- all the headline estimates. just off its highs of the day. let's get across to break these numbers down, the pmi came out of germany. that was better, francine. france under pressure from the data being taken off. hans, take us behind these numbers. germany did a little bit better. france under pressure. the manufacturing and services beats and comes ahead of the estimates. hans: the fact that we are getting too strong beats for the entire euro zone gives you the sense that the german economy may be pulling through and getting momentum. you may see strengthening a little bit when we get fourth-quarter numbers in a few months. what we saw out of france, disappointing on the services side. is the effect of terrorism on tourism. in germany, you have a manufacturing beat and a services be. you might have a slightly stronger number, especially on the manufacturing side. the survey was 51.6. almost a full percentage poi

i am francine lacqua in london with tom keene

up, many credits and francine lacqua after the break -- manus cranny and francine lacqua after the breakuity markets pushing another leg higher. the euro at a seven-month low. ♪ [singing marsailleuse] rancine: prince wall ho-- first wall on orders m airstrikes -- hollande orders more airstrikes. commodity crunch. $40bal growth drives oil to a barrel. inflation headache. manus: ecb board member peter craig

francine lacqua is in london. how was your trip back? francine: it was nice. tom: it is superstitious, friday the 13th. francine: in italy, it is the 17th. we are looking at lackluster growth in china, france, germany. what does it mean? possibly external stimulus. barack obama with an opinion piece on it. it will be interesting to see whether people accuse each other. tom: we are going to go the two -- we're going to go to luigi zingales. officials sayan hellfire missiles were aimed yesterday at an islamic state executioner. there is a high degree of certainty that he was killed. was shown in video released by militants beheading half a dozen hostages. the peshmerga raise their flag today in the northwest iraq the city -- in the north -- in a northwest iraqi city. they control the road that was a key islamic state -- for the first time in a half a century, man market soon be ruled i a civilian government. the election victory in the -- is the opposition party empowering them to name a president and inform -- and form a new government. and donald trump attacks

i'm francine lacqua. manus: i am manus cranny. the downing of a russian fighter jet threatens to undermine efforts for a united front against islamic state. president obama, chancellor merkel, and nato have called for a de-escalation of tensions between russia and turkey. francine: erdogan said no one can expect turkey to not react to violations. turkey has no intent to escalate the situation. manus: let's bring in andrew. great to have you back with us this morning. we just heard from erdogan. francine and i did a double take . there's the line. erdogan doesn't want to escalate the situation. president who is absolutely prepared to saber rattle against the russians. >> you can take it two ways. the glass half-full is that we've had 24 hours now without another major incident, which is certainly wasn't clear yesterday morning when markets tanked. nobody was talking about invoking nato article five. the glass half empty is the rhetorical escalation continues to rise. despite what erdogan said this morning, he did take a couple swip

i'm anna edwards in for francine lacqua and manus cranny. french president hollande heads to russia today to enlist the help of president putin against islamic state, a task made more complicated by turkey's downing of a russian jet. hollande urged angela merkel to step up germany's government been to the cause. ryan chilcote is in moscow for us. things have changed a lot since hollande first planned his trip to russia. update us. russia's spat with turkey is only growing. russia today announcing new restrictions on turkish imports. there is some talk that they could go after food imports. it looks like they are going after industrial goods like detergent, some food imports. this after many russian tour operators canceled packages for russian tourists to turkey. turkey is the biggest destination for russian tourists outside the former soviet union. this is a trade response, not a military response. if you look at the ruble today, you see something interesting. thisuble down just a cad morning, but so is oil. you look at the last five days, w

i'm francine lacqua. now, let's get straight to our top stories. cutdard charters will 15,000 jobs and raise 3.3 billion pounds after posting as a price loss. ubs net income beat estimates. manus cranny is in zero or he spoke to the ceo of ubs. he told us how difficult the quarter was. >> was very, very challenging quarter. in addition to the everything you mentioned, think about the seasonality you also have in the summer. you go from an environment in which the fed was expected to doe and turned out to exactly the opposite. big changes in the sentiment in emerging markets, what happened in china. so i am very glad that not only we managed the risk of the bank very effectively but also we managed in the good times -- that's the biggest success for the quarter. francine: joining me on site, guy johnson, the chief assetment of brooke management. we are joined by manus cranny. let's kick it off with you. what is behind this beat? manus: yes. one, you have got a lot less legal costs running through. this time last year the bank had 1.3 billion. that h

francine lacqua in london. i am tom keene in new york.oomberg surveillance ." ♪ tom: what am i watching this morning? how about commodities? -- a big deal. 2.0120 right now. decidedly -- here is vonnie quinn with the business flash. vonnie: the blockbuster takeover of allergan by pfizer is reportedly a done deal. the company said finalized in agreement worth more than $150 billion. pfizer would shift its headquarters to ireland's allergan base. partnersay tvc capital will buy the pet supply jane's petco for $4.7 billion. petco was taken private in 2006. walmart is doubling down on cyber, offering 2000 items on the monday after thanksgiving. cybert will begin its monday deals at 8:00 p.m. the night before. walmart investing heavily in the moment in on the channel. where we will be in january. i have no idea where we will be in retail in january. vonnie: sachs and lauren and taylor and stash and -- wed and taylor have a big surprise in some ways. the end of the kershner era. with us is an economist for bloomberg intelligence, jimena zuniga.

i'm francine lacqua in london, tom keene in new york.live pictures of the millennium bridge. this week it is a big week for the bank of england as they will publish forecasts on thursday. now it is time for the single best chart of the day. tom: they published in london. newsook business and the business is more vibrant and london than it is in new york and all of america. wikipedia bombs print back to 1997. this is a really ugly chart, the s&p mid chart. other beasts are in here as well. jimmy wales is with us, and i was stunned at the gloom in london over print. we need print. we enjoyed print. i am being told that people are going back to books, a little bit away from digital. how is anybody going to make money at this? my: one of the things that is booming is digital books and magazines. i subscribe to four or five magazines on kindle, and i have not subscribed to a magazine for that.ly five years before i am paying for the content because it is in a form i like. ads?do people look at anti-ad in mentally digital space. when does that

. ♪ francine: welcome to leaders with lacqua.on is an international publishing company with its biggest businesses in education and books. earlier this year, pearson sold two of its most well known brands. in an exclusive interview, i speak with the group's ceo, john fallon, about the impact of selling those established brands. thank you for speaking to bloomberg. we have been talking about the sale for as long as i can remember. when did you decide it was for sale?

. ♪ francine: welcome to "leaders" with me, francine lacqua.an international publishing company with its biggest businesses in education and books. earlier this year, it sold two of its most well known brands, the "ft" and "the economist." in an exclusive interview, i speak with the group's ceo, john fallon about his vision of the company and the impact of selling those established brands. thank you for speaking to

. ♪ francine: welcome to "leaders" with me, francine lacqua.an international publishing company with its biggest businesses in education and books. earlier this year, it sold two of its most well known brands, the "ft" and "the economist." in an exclusive interview, i speak with the group's ceo, john fallon, about his vision of the company and the impact of selling those established brands. thank you for speaking to bloomberg. we have been talking about the

. ♪ ♪ francine: welcome back to leaders with me, francine lacqua.s one of the top companies the world work for a -- one of the top companies in the world. this is the final part of my conversation with paul holman, we discuss leadership. paul: leaders are not relegated to a level of the company. for example, the medical community that went to west africa to fight ebola, those are real leaders. i work a lot with the blind and deaf, people who put themselves 24 hours for the availability of people with disabilities. those are real leaders. often, in fact come the teachers and nurses, these people who are real leaders that positively impact others, are undervalued strangely enough. so, to me a leader is not just because we happen to have a job. i also think that a leader is not necessarily only somebody who leads from the front. a good leader probably leads more from the back than the front, like a shepherd does. ultimately, i hope they say that they do not like me, but i would hope that i could say that there is respect, because ultimately, i think th

manus cranny coming up with francine lacqua on "the pulse." best of luck for the rest of your day.uro-sterling a little bit stronger this morning. ♪ francine: the fed's most powerful trio have spoken. a hike is on the table. stock markets tumble. manus: super thursday at the boe. francine: policy impact in china. bubbles are back in town. -- the bulls are back in town. manus: facebook video ad sales drive the share price to a new record. francine: welcome to "the pulse

coming up, francine lacqua with bloomberg tv on the pulse.tter here it just me and the bloomberg team in the city of london. best of luck for the rest of your day. ♪ anna: hollande heads to moscow. this as russia starts trade retaliation against turkey. metals bounce. copper, nickel, and zinc climb. and, rabbits out of the hat. what can the european central bank do to prevent the euro bounce? we will hear from the ecb vice president. welcome to the program. welcome to "the pulse." i'm anna edw

with tomine lacqua keene in new york. breaking news out of the eurozone.e we knew was in line with expectations, overall means we are not growing as much as we were hoping, and we are still seeing lackluster growth from china, and that is filtering third germany -- through germany. tom: they get to this sense of the challenges. mr. carney and mr. draghi -- it is very hard to do the ballet of quantitive easing given the lack of real demand. francine: exactly. and how can they counter deflationary pressure? let's get the first word news. vonnie: thank you. an islamic state executioner may be dead after being targeted by a drone. officials say they were aiming for "jihadi john," seen beheading captives and videos. sources there is a high degree of certainty he was killed. the hellfire missiles were launched toward the islamic state. john was shown in videos released by the militants beheading a half dozen hostages. the u.s. and its allies are stepping up attacks on oil fields. airstrikes that started the year and a half ago haven't stopped them from producing

i have the pleasure of being here with francine lacqua.such a busy week of international relations, but the gauze of this is commodities find a bid. onncine: and we have the ecb thursday. this is probably the big one. tom: it is a done deal. they are going to act. francine: if you do not deliver, you can see the markets -- that is the main concern. tom: nato is coming in to support turkey. mr. putin is in paris this morning. francine: and friday we have not only opec but jobs data. it is a busy week. tom: let's get to our first word news. here is vonnie quinn. vonnie: thanks, tom. the sweeping u.n. climate -- presidentlimate xi jinping saying -- there is broader support for the limiting of greenhouse gases than there was at the last effort three years ago. they still have their sick points. -- they're sticking points. a demonstration in favor of a global climate deal turned violent. french police arrested more than 200 people. demonstrationsed as part of security measures imposed after the terrorist attacks. an israeli court today found tw