that was the london stock exchange ceo. next, we talk the banking industry. ng challenges and opportunities. this is bloomberg. ♪ ♪ welcome back to bloomberg markets, rules and returns. i am nejra cehic in london. the future of banking. mifid ii is not the only regulation that could reshape the industry. d2, it has the ability to break down monopolies on consumer data, people would be able to use third parties like amazon to make payments without having to be redirected. does this mean banks will no longer be competing solely against banks but anyone offering financial services? joining me now, ed, is this popular? >> not necessarily. it is a sea change. it has been building over time in the marketplace. it will not be a sudden rate. they do have to adapt to a number of new players coming out. they will no longer be able to dominate markets in the way they have. the most important element is, they will have to share their customers data with all of these and as well as, the apples and amazons and googles of the world. it is creating a new marketplace. by law.

nejra: london stock exchange ceo has hit back at critics.e said listing rules were bent to pave the way for an ipo. the u.k. investment association argues that 25% should be the minimum level for any premium listed company in the u.k. he spoke exclusively to me and said that is simply not the case. >> there are some that say there is a 25% equity rule as part of in the market. i have read some of these comments. there is not a 25% governance rule that mandates a minimum of 25%. it is a liquidity test. in the past, there have been in since his of companies which were extremely large that obviously would provide substantial liquidity that were allowed to list on the premium market with less than 25%. this happens in the united states all the time as well. let's not confuse governance. liquidity test is ensuring that there is less than 25% on the market, that there is enough liquidity to ensure smooth trading. nejra: what is your reaction to recent press reports that they are considering shelving the international part of the ipo? is this to do

outgoing london stock a change -- stock exchange ceo.reported the sales growthmonth since it began reporting the figure in 1999 and forecast stimulus growth for the full year. the world's biggest food company said revenue climbed 2.6% on an organic bases beating analysts forecasts. the company expects additional restructuring costs to 500 million francs this year. the operating margin will decline to 60 basis points. roush's third quarter [inaudible] continue to offset slowing growth for its own drugs. revenue rose to $13.4 billion meeting -- eating analyst estimates. they reiterated its forecast for the year saying that sales and core earnings which excludes some cost will grow by mid to single digits at a constant exchange rate. sap has raised its sale forecast customerss more signed up for the companies flagship software. of company expects revenue between 23.4 billion euros and 23.8 billion euros. up 100 million euros from its previous forecast. they also said sales for the third quarter -- quarter rose 4% missing analyst estimates.

nejra: that was the london stock exchange ceo. next, we talk the banking industry. s and opportunities. this is bloomberg. ♪ ♪ nejra: welcome back to bloomberg markets, rules and returns. i am nejra cehic in london. let's talk the future of banking. mifid ii is not the only new regulation that could reshape the industry. psd2, it has the ability to break down banks' monopolies on consumer data, people would be able to use third parties like amazon to make payments without having to be redirected through card providers. does this mean banks will no longer be competing solely against banks but anyone offering financial services? and robinson -- and robinson joins me for more. this is popular with the banks? ed: not necessarily. it is a change. it has been building over time in the marketplace. you'll not be a sudden break. they do have to adapt to a number of new players coming out. they will no longer be able to dominate the markets in the way they have. the most important element is, they will have to share their customers data with all of these little companies, app

after nine years at the london stock exchange, stepping down as ceo. exclusive interview, he hits back at aramco ipo's critics, the little but gigantic ipo. we will explain. this is bloomberg. guy: messily stock trades south this morning. this is a bond proxy. if you are at -- u.s. rates go higher, -- neil: i don't think it does because it is one of the safest investments you can make. we are hypothesizing interest rates rise from here. we have got a very strong global company with very strong market shares. maybe one of the only real aaa credits in the world. the 3.5% dividend yield. it might be a consensus long, but it is certainly a safe place to invest. guy: this is bloomberg. ♪ matt: 30 minutes until catalonia must confirm its independence decision. we are in barcelona. rolet is set to receive the exchange by december 2018. his views on the future of the saudi aramco ipo in an exclusive interview. unilever delivers a topline miss as nestle says it's weakest nine-month figure in the 18 years. are these bond proxy is worth the price? welcome to bloo

of the frankfurt stock exchange operator came under fire for buying vast quantities of shares of his company shortly before announcing it plan to merge with the london stock exchange the new century and door to further up the merger has not since materialized can get turned over to bertha deny any wrongdoing. this week saw the delivery of a hockey anticipated announcement concerning the future of the european central bank bond buying program despite extending the scheme until september of next year e.c.b. had mario draghi opted to have the e.c.b. as monthly after purchases from sixty to thirty billion euros today's monetary policy decisions were taken to preserve the very favorable for announcing conditions that are still needed for a sustained return of inflation rates towards levels that are below but close to two percent. deciding on the future of the program has been a tough balancing act inflation levels are still below the e.c.b. as two percent target race on the other hand economic growth in the eurozone continues to be solid for now the markets will continue to be flooded with cheap money though there won't be as much of it as before i mean

operate the frankfurt stock exchange he came under fire for buying four and a half million euros of shares in his own company before announcing it was looking at merging with london stock exchange now that sent. the merger never actually happened but can get to is being investigated the company denying its chief executive did anything wrong. these e bay has announced a gradual withdrawal from post crisis stimulus its halting its bond purchase program from sixty billion euros a month to thirty billion euros from the start of next year interest rates will stay where they all go down at historic lows. no surprise in store for the markets despite having its massive bond buying program the european central bank is carrying on with the hundred eight of easing today's monetary policy decisions were taken to preserve the very favorable for nancy conditions that are still needed for a sustained return of inflation rates to worst levels. but close to two percent it's a balancing act inflation levels are still below. two percent target rate while economic growth in the eurozone continues to be solid and on going to let the central bank has to deal with was a known problem b

the frankfurt stock exchange operator four and a half million euros of shares in his company before announcing it was looking at merging with the london stock exchange. shut up on that used imagine ever happened authorities are investigating a company denies its chief executives did anything wrong. about that with. our financial correspondent daniel how did can get a explain his sudden announcement to exit. well there is of course this or fisher wording where he's saying now you know i really want to make sure that daughter bertha gets out of this you know bad headlines and that you know now they can focus again on the business but pretty much he probably at the end didn't have any choice it was just he was just under two big pressure also after we had the court in frankfurt saying this week that they don't agree on this settlement that he wanted to or arranged by a paying five hundred thousand euros and then daughter burrs another ten million euros so basically you have the option to just say i'm going to resign by the end of the year otherwise he would not even gotten a new contract because his contract was due in march two thousand

frankfurt stock exchange operator and came under fire for buying a huge amount of shares in his company shortly before it became public knowledge that it was looking at merging with the london stock exchange and shares in georgia as a short hop on the news the merger never happened but is being investigated daniel can we rope you back in and just ask you about the reaction there is a bit of a surprise considering. was pretty much like there in frankfurt. well this news that he's now really going to step down by the end of the year kind of came as a surprise we knew that there was a board meeting at taking place today really discussing the future of miss that can get done because his contract was due in march two thousand and eighteen and with his open trial basically going on it was clear they couldn't give him a contract if you know he really has to be in front of a court room member that he wanted to agree on a settlement with the courts here and frankfurt but the courts here in frankfurt was just saying this week that this case is just too important they're not going to do with this then you go proceed with all the analysis from frankfurt thank you very much. catalonia a

biggest stock exchange in frankfurt kasten can get to is facing charges of insider trading after buying millions of euros worth of don't you berta shares that was before merger plans with the london stock exchange were announced sending those shares up in value the settlement would have seen can get the company paid a combined eleven million euro fine but it now seems the trial will go ahead stuff for correspondent daniel coal power much can get has stood to profit from the shares well remember when the stock exchanges were flirting the frankfurt stock exchange and the laundered stock exchange by that time he was buying shares worth of four point five million euros we know at the end his marriage you know never happened if and what of if it would have happened he would have had made a lot of money and it's going to get even more difficult for him now his contract is due in in march two thousand and eighteen and we're hearing that maybe already by this week there could be a final decision about his future we are hearing from insiders that on thursday there is going to be a board meeting here at the stock exchange where they will be discussing the future of casting can get and most

see how the london stock exchange and you roll a hand steve case. fox business network dagen mcdowell come and see if with doubt and economics professor at king's college, ryan renberg. good morning, everybody. great to see you. >> good morning. maria: a lot to talk about. what's on your agenda. dagen: hillary clinton and her team and the dnc were behind the controversial discredited dossier put together. i hope they own it and i hope the humor comes down on everybody associated with that dossier put together against president trump. maria: it's incredible, dagen. how long have we been thinking on this program collusion between the trump administration and russians this not exist. here we are the king of the other collusion with democrats. it's just outrageous. >> your compass on this story for the first breath. everything to do with russia and hillary clinton, her campaign and the dm beat camille pin spot on for a moment one. i can't reiterate that enough. maria: thank you so much. a lot to talk about. a republican authority feud on capitol hill. t

fanaa is leading a campaign called no saudi blood oil on all stock exchanges also the chair of the last day and law at king's college london as here with me in the studios studio i mean you are totally obviously we know totally opposed to being listed on either the stock exchanges like us about explain why this is a bad deal for so many reasons it's bad for human rights it's bad for women's rights it's bad for the climate it's bad for the spread of extremism around the world and it's just a bad deal the saudis are asking the city of london the london stock exchange to bend its own rules to allow this massive oil company to be listed but leading figures in finance and business or warning against weakening the investor protections that were put in place specifically to stop the risks of companies like around co from putting in danger the money of ordinary investors in fact of anyone who has a pension isn't the reality though that when we invest our money almost all. market a lot of the time really don't know where that money is going on saudi arabia won't be the only country that has dodgy human rights records etc they'll be

that operates the frankfurt stock exchange and he came under fire when he purchased shares in his own company shortly before announcing it was looking at merging with the londontock exchange. the news sent the shares surging. the merge never happened, but now he is being investigated. the company has denied the chief executive did anything wrong. earlier we asked our correspondent in frankfurt how the ceo explained his departure. correspondent: there is of course an official wording where he is saying, i really want to make sure that the company gets out of this that headline, and -- bad headline come and now they can focus on the business. but probably in the end he did not have any other choice. he was under pressure. also, we had the courts in frankfurt saying this week they do not agree on this settlement, that he wanted to arrange by paying all of these euros. and another 10 million euros. basically, he had the option to say i will resign by the end of the year. otherwise he would not have gotten a new contract, because it was over in march 2018. helena: time to check with wall street, our financial correspondent is with us in new york. jens, the third-q

running germany's biggest stock exchange in frankfurt costing kanga to is facing charges of insider trading after he poured millions of euros of doj before merger plans with the london stock exchange were publicly announced settlement would have seen both on the company pay a combined eleven million euro fine but it now seems the trial will go ahead. now you're watching news we having a special coverage on. the former german finance minister who is now the president of the german toc and of course we will bring you up to date with more news at the top of the hour until then stay tuned. traveling at twelve hundred kilometers an hour on a hyperlink it's like a giant pneumatic tube people reduce pressure to transport passengers and crate at supersonic speeds but is it practical as students take up the challenge in los angeles it's a test for the futuristic vision of the hyperloop the want to. spawn deep. and costly protective measures with. things. flying. challenging our future starting november nights on g.w. yeah i'll do my story and i think one day this war will be considered a cruel and unjust war but if you want solution and certainly all citizens we crane every

stock exchange in frankfurt. is facing charges of insider trading after he bought millions of euros of dollars of those shares before merger plans with the london stock exchange were publicly announced a settlement would have seen both can get to the company pay a combined eleven million euro fine but it now seems that the trial will go ahead of a more on that story let's cross over to daniel cope who is at the front with the exchange for us debbie what's this decision mean for cost and can get out into. well certainly for mr not a very good mood today and it's actually very interesting when you talk to experts experts experts in the war area they're saying that this is a very unusual case usually when there's a settlement in discussion in nine of ten cases accord usually agrees and in this situation you know we're talking about ten million euros that would be paid in this case though the court is saying that their kid this case is so important that they are not seeing this trap and so what's now going to be the case mr kangaroo will be in front of a chord jury here and frankfurt with a possible verdict or of course an expert at the end of cour

germany's biggest stock exchange in france that cost ten kanga is facing charges of insider trading after he bought millions of euros of georgia but the shares before merger plans with the london stock exchange were publicly announced the settlement would have seen both king into the company pay a combined eleven million euro fine but it now seems that the trial will go ahead. let's go straight to frankfurt and the frankfurt stock exchange where daniel cope is standing by for us daniel what's this decision mean for casting torchbearers it yeah hi monica from chile frankly where the atmosphere inside of the stock exchange is even colder because i can tell you that this settlement cases that is a very unusual case in of ten cases when a settlement is actually in the discussion a chord usually agrees on this in this case the court is saying that the case has such a high importance so they really want to see this trial to happen of course at the end with an open result we could see in this case or of course the next fertile as well what does this mean for can get or what is contra is actually due in march two thousand and eighteen and with an open trial still going on it's not ver

the frankfurt stock exchange and he came under fire for going for the hoff million euros worth of shares in his own company shortly before announcing it was looking at merging with the london stock exchange that new sense that these shares rather. should searching the merger never happen but can get to is being investigated the company has repeatedly denied that the chief executive did anything wrong so we asked to correspond in frankfurt daniel cope how can get explained his departure. well there is of course this or fisher wording where he's saying now you know i really want to make sure their daughter bertha gets out of this you know bad headlines and that you know now they can focus again on the business but pretty much he probably at the end didn't have any choice it was just he was just under two big pressure also after we have the court in frankfurt saying this week that they don't agree on this settlement that he wanted to or arrange by a paying five hundred thousand euros and then dodger burrs another ten million euros so basically you have the option to just say i'm gonna resign by the end of the year otherwise he probably would not even gotten a new contract bec

germany's biggest stock exchange in frankfurt casting is facing charges of insider trading after buying millions of euros worth of deutsche opposer shares that was before merger plans with the london stock exchange were publicly announced sending those shares up in value the settlement would have seen can get in the company pay a combined eleven million euro fine but it now seems the trial will go ahead as talk about this with our financial correspondent who's at the frankfurt stock exchange daniel why did the court reject the settlement do you reckon. well first i can tell you that i was actually talking to a lawyer a little bit earlier and he has been telling me that this is a very unusual case that is taking place right now because out of the nine of ten cases when there is a settlement basically in discussion the chord usually agrees actually to it and in this case the court was clearly is saying that this case is a so important which most likely is going to mean that he was really involved in this insider trading case and more about you know the president rather than the money that was in volved i'm not sure what you're getting at but how much did can get a stand to profit fr

the chairman of the london stock exchange thought we were talking about 200,000.greement. one of the problems with the wto's solution of the hardline brexiteers is that it doesn't protect the services sector, particularly financial services. but there are around 1 million jobs particularly financial services. but there are around 1 millionjobs in there are around 1 millionjobs in the financial sector in the uk. 75,000 is a dot. but it is farfrom being a hammer blow to the city. —— 75,000 is a lot. but it could grow and still remain the most pre—eminent financial sector in the world. in the past it has demonstrated resilience. but it would be hard hit. it is not about jobs, although that is serious, that is -- jobs, although that is serious, that is —— and it is about government revenue. that is why philip hammond has been very downbeat about the budget. he knows that if there is a ha rd budget. he knows that if there is a hard brexit, particularly, government revenue would be massively hit. well over 10% of government revenue come from the city. what is significan

yousef: also, the london stock exchanges ceo hits back at critics who say the board is bending the ruleso win the aramco deal. they want to bid up to 5%. 25% is thed that legal minimum. this may not be the case. >> there are some who say there is a 25% liquidity rule, as part of inclusion. in the premium market. i have read some of these comments. role, it is aance liquidity test. in the past, there have been instances of companies which were extremely large that obviously could provide very substantial liquidity and were allowed to list on the premium market with less than 25%. this happens in the united states all the time, as well. in's not conserve governance the case of the 25% test, the threshold, and the liquidity test, which is in shoring -- is ensuring there is enough liquidity to ensure smooth trading. >> what is your reaction to recent press reports that saudi aramco is considering a shell as part of the transaction? is this part of london being less attractive? >> i cannot comment on that. in general, and you can clinton is becoming less attractive brexit -- do you think lond

week, theso this london stock exchange ceo hits back. saudi arabian officials plan to list 5% on one or two bank exchanges. the u.k. association argues 25% is the legal minimum. >> there are some who say there is a 25% liquidity rule, as far as inclusion in the preview market. i have read some of these comments. a 25% governments rule that mandates minimum 25% liquidity. ande is a liquidity cap, instances of companies that were extremely large, that would provide them stanch old liquidity that were allowed to list on the premium market with less than 25%. this happens in the u.s. all the time as well. in's not confuse governance the case of the 25% threshold and liquidity test, which is insuring less than 25% on the market, there is enough liquidity smooth trading of the underlying security. >> what is your reaction to recent press reports saudi aramco is considering shelving the international part of the ipo? does this have to do with london becoming less attractive? >> that i could not comment on. nejra: in general, do you think london

you being in london have seen investors unhappy with the rules being changed for the london stock exchange. how do you see that playing out? will the world's biggest ipo end of being a private placement? >> you have an amazing company in saudi aramco. london would love to have it. to regulators need to listen the funds whose they don't drop the standards and make exceptions. we want to keep the government standards high, so hopefully a middle ground can be reached with practical people. i don't know whether a private placement will happen or will not happen, but it might be a taking ao-step process large company like that state owned, bring outside investors in, to a local listing, then in due course do a large international listing. i think they could do either, but it would not surprise me. volumes globally are down 5% this year. not as many big deals. what are you seeing in terms of confidence to finance these deals? >> when you look at the geopolitical headwinds out there, companies are saying it has to be business as usual. we will look at sensible m&a opportunities, consolidation, bu

the frankfurt stock exchange operator and came under fire for buying four and a half million euros of shares in his company shortly before announcing it was looking at merging with the london stock exchange. a shot up on the news merger never happened but can get it is being investigated the company has repeatedly denied its chief executive did anything wrong. let's get the reaction from daniel cope our financial correspondent who's in frankfurt so i can get it takes the trading floor by surprise what was his reason for resigning. well the reason he basically didn't have too many options and you know this week he wanted to agree on the settlement with the courthouse frank for the courthouse and frankfurt was saying though that this case is just too important so they didn't want to agree to this ten million euros settlement can get is now saying also that he just doesn't want to cause any more problems for the stock exchange and that he wants that the stock exchange can now really focus on the future of course those are the nice and official words but there was a lot of pressure on him they had a board meeting taking place here at the stock exchange talking about his future

biggest stock exchange in frankfurt kasten it can get is facing charges of insider trading after buying millions of euros worth of the deutscher shares that was before the merger plans with the london stock exchange were publicly announced sending those shares up in value now that settlement would have seen can get to and the company combined eleven million euro fine but now it seems that the trial will go ahead. so earlier we asked our correspondent at the frankfurt stock exchange daniel corp how much can get or stood to profit from those shares if the merger had gone through well remember when the stock exchanges were flirting the franc or stock exchange in the long run stock exchange by that time he was buying shares worth of four point five million euros we know i am his marriage you know never happened if and what of if it would have happened he would have had made a lot of money and it's going to get even more difficult for him now his contract is due in in march two thousand and eighteen and we're hearing that maybe already by this week there could be a final decision about his future we are hearing from insiders that on thursday there is going to be a board meeting here app

biggest stock exchange in frankfurt custom can get is facing charges of insider trading of the buying millions of euros worth of deutsche oppose the shares that was before merger plans with the london stock exchange were publicly announced sending those shares up in value the settlement would have seen can get and the company paid a combined eleven million euro fine but it now seems that trial will go away it. will business to come including cuba's questionable efforts to open up the information superhighway to the island's people first some sport. thank you been to football the portuguese for what christiane zero nada has been named best male player in the wild for a second year in a row if i was the best awards take fan voting into account as well as votes from coaches players and the media. it was supposed to be hollywood on the thames for the likes of ronaldo neymar. and messi all in their finery and hoping to be named the best in their business it's not the fabled ballon d'or awards but the fire has spent the money to make sure it's a close second. and they were in names. coronato there was no close second for one although after leading reality champions league and lower leagu

they have looked at possible relocations of staff around the london stock exchange, and there are around0 redundancies. the kickerfor me was of up to 200,000 redundancies. the kicker for me was they did a graphic with the story, talking about how distributed it is. when we think of the city of london, we think of the city of london. however, if you looked at the graphic, you see in the financial chain, if you like, over 200,000 jobs dependent on the strea m over 200,000 jobs dependent on the stream in the north—west, 150,000 in scotland. it could have hit impact across the uk. what does history tell us about where the impact is dealt with? london has become the hub. the suggestion and the anxiety is that it is not set in stone guaranteed. one of the key points about history is that it is not set in stone. it keeps changing. but britain's sensuality as a financial services part of the world as longer foundations than just the eu. —— centrality. it's not by any means guaranteed that if things don't go well with brexit negotiations it's all overfor london as well with brexit negotiations it

their own exchange over there in saudi arabia, but are they going to be able to list it on the london stock exchangee new york stock exchange, are they going to have other sovereign wealth funds come in and buy chunks, they are going to continue to diversify, so this will happen, it's just in what fashion, today we keep talking about the price of oil, opec is going to meet today to talk about an exit strategy on the curbs that they have on production, so that's actually pretty telling, when you look at price of oil, you will see opec wanting to start to ramp up, the ipo does need to happen and you are starting to see that here in the united states from 2007 to 2017 we have seen domestic production go up 70%. we used to just do -- 7 million-barrels a day or more and exporting a million a day, this is critical to the saudi economy. maria: yeah. it sure is. how about the u.s. economy? what's critical is tax reform, lawrence jones, because the president is continuing to pound the table because they think they will get this done by tend of the year. i think the president is trying to push it up. he's mee

the chairman of the london stock exchange thought to hundreds thousands, the upper end, and this assumes 0ne assumes we do not get an agreement. one of the problems with the so—called world trade organization solution, hard—line brexiteers, it doesn't protect the services sector and particularly financial services. oraround a and particularly financial services. or around a million jobs and particularly financial services. or around a millionjobs in the financial sector in the uk, 75,000 isa financial sector in the uk, 75,000 is a lock by far a hammer blow to the city and surely it would manage, adapt and continue to grow and remain perhaps the pre—eminent financial centre in the world? remain perhaps the pre—eminent financial centre in the world7m certainly has demonstrated in the pastel of resilience but it would be a big hit but i think the biggest hit would not be in the respective jobs, serious though it is, is about government revenue. i think one of the reasons philip hammond is being downbeat about the budget and his inability to spend and deal with the crisis the government face

investor and our investments in africa are all permanent capital, we have listed equity on the london stock exchange underwritten deal that we did with fairfax was also permanent equity. if you are an investor with a three to five-year view or better or a five to seven your view, this is absolutely the time to be investing. yousef: i want to bring it back to the global economy given your experience and i want to get your thoughts as to what concerns you most when you look at the world the way it is shaping up to be today. bob: i think there are a lot of positives. as ink the u.s. economy, mentioned earlier, has been incredibly resilient. i think trade is encouraging. i think most of us here when asked what are the things we worry about, it's really the leadership vacuum around the world. yousef: ok, bob diamond, thank you very much for joining us. he is the ceo of atlas merchant capital with the story unfolding here as a lot of the leaders deliver a different scenarios on how the kingdom will go forward with economic reforms. they are allowing foreign investors to take on strategic stakes and public

rekaibi is suing barclays for manipulating prices on the london metal exchange. and allow stocksare confirmation of information -- confidential information. least $850 million 2013.n 2010 and barclays the nice the claims. the chairman of bp is retiring. the energy company 2013. says call hendrix sundberg will chair the next meeting in may, and will stay until a successor is found. he has been the german since 2010, he 65. united continental holdings declined the most after it is a painting profit outlet. the profit margin could mean it will fall further behind delta airline. ceo,a setback the united who is in the middle of a turnaround plan to improve the service and years of industry lifeguard. that's your bloomberg business flash. scarlet: are stocks of the hour getting smoked following results. philip morris is one of the biggest liars in the s&p 500. you couldn't resist that smoke. it's a pretty straightforward story. philip morris, like many of its competitors, have been trying to migrate to what is called reduced risk product. smokeless tobacco of various kinds. is somethin

of the past with yet another one shutting up shop on kong stock exchange closes trading floor on friday joins other stock market giants london tokyo and singapore in the technology ports. with the bang and much enthusiasm goal rise of china based logistics company debuts in hong kong stock market initial public offerings from chinese firms are becoming more frequent with more than a thousand companies from across the border trading their shares on the hang seng index you have only with hong kong within greater china this large equity market place that basically is accessible as long as you're a qualified company so without government interference you can easily come here with a size of china's economy that just pushes more of these quality companies to the listing opportunity here chinese entities account for about half the number of companies on the hong kong exchange compared with five percent in one thousand nine hundred seven on the territory transition from a british colony to a special administrative region of china hong kong has always been a financial hub but over the past two decades the nature of the city's markets

united states daniel cope our correspondent on the front foot stock exchange can tell us why danielle now i understand that in a speech today in london boris johnson the british foreign minister has called on the e.u. to show quote more creativity in the brics it negotiation is anyone listening to that frankly speaking monica not really because what is what he means with more creativity frankly speaking more time britain really seems to notice that time is running the clock is ticking and that the negotiations are not at the stage where they actually should be investors here on the trading floor are saying that britain finally needs to do their homework which means to be very clear on the rights of the european citizens in the u.k. northern ireland of course also a big topic and then the bracks a bill that still has not been negotiated and that after that there could be further talks for example are about how trade is going to be in the future so people here on the trading floor are not really paying too much attention to this more creativity ok and what about the creative gentleman across the big pond u.s. president on the trump has

london to cities within the european union when so they can keep operating in you wide. well let's go over to frame for conrad boson is standing by right there at the frankfurt stock exchange for us conrad where is this all leading is suddenly going to become very full. it is already becoming full i can tell you if you're looking for an apartment for or for a house if you are an average earning family here in frankfurt it's become very very difficult to find a place to live where is this leading in terms of business and in terms of banking it's very difficult to say what's happening at the moment is that large banks like goldman sachs or deutsche bank for example they're building parallel structures double structures in both frankfurt and london because the supervisors for the financial services sector one time to get prepared for heartbreaks it they should be ready to deliver services to their customers what ever the outcome of the breaks it negotiations will be and that's why they're building those double structures whether or not that means that frankfurt after the break said we'll really become the big you know financial and the only important financial center in europ

exchange or to trade its shares. new york and london have been considered the frontrunners for the largest ever flotation of stock. saudi aramco is instead looking into a private share sale to the world's largest sovereign wealth funds and institutional investors. other reports say the ipo will not be pulled, just delayed. >>> there could be a deal in the chocolate business. hershey reportedly preparing to submit a bid for nestle's confectionary business. leslie picker has been following the story for us. this is a sweet one. as we say. >> reporter: it's a good one, it makes me hungry this friday evening. this is the butterfingers, babe ruth, the u.s. confectionary business of nestle. that's been up for sale since june. the company announced they would look for strategic options for that business. cnbc.com has exclusively learned potentially buyers could include hershey, ferrero, ferrera, and private equity interests for this business. according to people familiar with the matter, the value for this business could be as much as $2.5 billion. >> do we have any idea who the frontrunner might be? $2.5 billion is a lo

london drama unfolds, former ceo travis kalanick surprised the company's board by appointing two new directors, ursula burns and former cit group ceo john thain well known around the new york stock exchange as well. >> that's right. >>> sticking with tech, facebook is hiring 1,000 employees to its ads review team as facebook works to make ads more transparent and tighten regulations on advertiser content. this as lawmakers explore ways that russia they have influenced the 2016 election. facebook shares down half a perce percent, bill. for all the platforms investors have loved is whether having to add all of these people dimini h diminishes the -- >> i don't know if you saw this but the chairman of the senate intelligence committee said that they're going to release some of the ads. in a few weeks here. that facebook turned over to them just so we can get a sense of what they were doing, what kind of advertising we were talking about to sway public opinion that should be very instructive. >> yeah. let's go over to tyler mathisen now, he's got the latest on the las vegas mass shootings today tyler? >> kelly, thank you very much. it is a developing story, the death toll now stands at 58 af

the london stock exchange says -- will leave the board by next year.he company is looking for a successor. yesterday, he spoke exclusively to bloomberg and hit back at critics. >> you know, some say there is a of liquidity ruled as part inclusion in the premium market, and i have read some of these comments. ruled is anment liquidity test. sebastian: and that is the bloomberg business flash, francine. francine: thank you. in the past few minutes, a letter from catalonia presidents cataloniagdemont says may declare independence unless spain agrees to talk. maria is live in barcelona. it just feels like it is going to further inflame the conflict. that is right, francine. we got this letter from president puigdemont. one, i want to have a meeting with roy. two, i want spanish police to get out of catalog. -- out of catalonia. if article 155 does get anggered, we will create independent capital republic within 48 hours. we have a little bit of breaking news now. the government has responded and put it a statement essentially saying we see this as blackmai