tom: let's bring in lizzy burden. what reaction did we hear? ber keir starmer was a rockstar in opposition and now they've had this boo jit. businesses saying if you don't make up for that, you will not be the party of business, which is important. all the dater has been dour so the government's response will come today, a white paper called get britain working will take away welfare from people refusing to go into education or training. it will be controversial but as you heard from rachel reeves it's all about fiscal responsibility and increasing the employment rate. tom: sounds like it was taken from the conservative party. how to get britain working. lizzy burden is covering the reaction. we will be talking to matthew long, tune in. now to ireland where voters go to the polls with a different dilemma or flush with cash from corporate taxes leading political parties to make big promises. that sounds different from the rest of europe. jennifer joins us for the details. this is part of the big take. counter to what we hear how much money does t

correspondent lizzy burden. it's plainly -- where were you?we were at a bio tag -- biofarma lab which was funded by pension capital. >> how significant does this announcement? >> the idea is to pull pension capital so that you can get past that critical mass. look at australia or canada. you can drive economic growth. that's the idea. it has support from the ipp our think tank saying that this will list the you -- lift the u.k. off the bottom of investment. tom: she's not going to compel pension funds to invest in u.k. assets. something that has proven controversial. has she completely rolled that out? lizzy: there are two issues here. first of all, you've got to get this money into u.k. companies. what are you going to do about that? will you give them tax breaks? will you mandated? the other problem is, how are you going to get money into the pension pot in the first place? you've got businesses really stretch by this budget. the tax heights, the national insurance contributions going up , minimum wage going up. it looks like interest rates

kriti: lizzy burden walking us through the story in the u.k..o on to something that will impact the united kingdom and other countries to come. it is the future of artificial intelligence. the nvidia ceo was in hong kong where he spoke with annabelle droulers about how his firm with handle the change in the u.s. president. >> i don't know what is going to happen with the new administration, but whatever happens, our wealth will balance simultaneously in compliance with laws and policies, continue to advance our technology and serve customers all over the world. we will continue to do that and we will do that just fine. kriti: the past two years, nvidia has become the main supplier of the hardware that enables generative ai, making the company the world's largest by market value. some of the chipmaker's biggest customers, amazon, microsoft, google are cooking up their own so it -- their own silicon. olivia solon joins us on set. good morning. walk us through this move from amazon. they are making their own ai chips. that is a costly venture. why?

lizzy burden, our u.k. correspondent, breaking down what we heard from the bank of england governor andrew bailey contending with a more challenging backdrop than he had expected a week ago. talking of the ecb, german politics plays into that. germany and delved into that political crisis, as parties argue over a limb election day in that country, following the collapse of the governing coalition. we are live in frankfurt with the latest. this is bloomberg. ♪ tom: welcome back to "bloomberg daybreak europe." breaking lines on the politics of germany. we will get details in the next couple seconds. the german opposition leader merz is talking to the dlf radio station giving an interview saying scholz the chancellor and the bid to delay that election until march is irresponsible. that is the line from the german opposition leader speaking to german radio. as olaf scholz pushes back on pressure from those competing parties to call an election earlier. scholz trying to push that back to early next year. opposit

. ♪ ♪ kriti: good morning from london, i am kriti gupta alongside guy johnson and lizzy burden.an at

joining for a review is our correspondent lizzy burden. what do we expect? >> we have inflation back below the bank of england's 2% target, so it is nailed on this quarter-point cut today, so the focus is on the path ahead but you have spanners thrown into the works, rachel reeves' budget and the gilt market, the biggest loosening to slow the pace of rate cuts in the u.k., on the other hand, donald trump's victory also prompting a repricing of beer we cuts because of the impact to growth from tariffs. goldman sachs changing their forecast for the u.k. yesterday cutting it. he saw the pound up against the euro but down against the dollar. markets think the u.k. will be less hit than the rest of europe. we had j.p. morgan asset management's karen ward weighing in saying the fiscal response from europe could be inflationary, so it will be interesting how the bank of england process is that, whether they upgrade their forecast for growth off the back of the budget. it is far too soon to be putting in the impact from the u.s. election, but maybe we will hear in t

i'm lizzy burden in london, coming up to 3:00 p.m., 10:00 a.m. stateside in new york. it's thin volume elsewhere. green across the screen for european equities. even in paris, the cac quarante higher .7%, despite the political turmoil. and when you look at it by sector, break it down, you've got about three forces in the green. tech leading the gains still, higher 1.25%. consumer products and services, bottom of the basket, down about a quarter of a percent. and equities are closed stateside. the rally yesterday falling off just in time for the holiday. knocked by the tech sell to have and core p.c.e. climbing, so that supports the fed's gradually approach. but futures pointing higher. s&p even higher .2%. looking at the cross asset picture, we have euro dollar currently weaker by .2%, 1.05 where we are at the moment. 10-year, we're down seven basis points at 2.95%. actually the french benchmark yield matched greece's for the first time ever, but it's lower now, given the concessions from the french finance minister. brent trading at $73 a barrel, stronger .4%. opec+ d