that was the warning last night from mark carney. let's bring in caroline hyde. .ooner than we think the question is, how soon and by how much? >> this is the billion pound question. it could come sooner than the market expects. the current consensus is that we would see rate hikes starting in april of next year. this is the most hawkish that we have ever heard mark carney, saying that we could be a step ahead of the market expectations in terms of rate hikes, really adding fuel to that fire. have a listen. >> there is already great speculation about the first rate hike and this decision is becoming more balanced. sooner thanpen financial markets currently expect. say that very keen to this is the last line of defense in terms of trying to suppress over exuberance in the housing market. that is where the key concerns lie. willyou mentioned how high they go, he is still reiterating what we had in his last statement. it will be gradual. you will not see some rate hikes to the tune of 1%. --s will be a slow interest increase going forwa

marconi -- mark carney on the bank of england's recent tone on interest rates. monsanto's recent talks with syngenta ag or a $40 billion deal is said to be dead. welcome to "countdown." i am mark barton. it is 6:00 and london. bloomberg reporters ready to deliver the stories that will drive your day. elliott is in tel aviv covering the iraq situation. john kerry calls on the country's leaders to unite. ryan chilcote is in the studio on the current state of play with south street pipeline. manus cranny is here looking ahead to mark carney's grilling in front of lawmakers today. it is the deal this is a lot about u.s. companies trying to avoid taxes. caroline hyde has the autopsy report on the monsanto-syngenta talks. exclusives an mineview with the head of old bank, peter weinzierl. called to unite against an al qaeda breakaway group to seek after the country's largest oil refinery. this would seem to reinforce very concerns that i rock -- iraq's very survival is at stake. bighe oil refinery is a loss. let's not beat about the bush. this is the largest in the coun

mark carney taking center stage again. numbers released today. google on your phone and in your home. the tech giant is on a mission to put its new android software everywhere. hello. welcome to "countdown." i mark barton. it is 6:00 a.m. thursday morning. on "the pulse," check out our interview to talk about the swiss watch industry. the new york attorney general has begun a lawsuit against barclays. alleging the bank lied to customers masking the extent of high-frequency trading. markets editor manus cranny is here to explain. before we get into this. what are dark pools? why do they use them? >> they have evolved. it is like a private trading venue. it is where institutions can go to execute high-end sell orders without talking about which side they want to be on. otc, referred to as over-the-counter, hence less regulation. is less transacted. >> what is at the heart of this lawsuit? word, lies. lies and fraud. this is under the martin act. barclaysing that pursued the growth of the dark pool regards of everything else around it. they wanted t

that is good news for mark carney. want to show you the very personification of a market coming off the boil. it is down for the fourth straight month in a row. the lowest reading since august 2013. you are looking at that -- at a market that is changing direction. any mortgages up to 500,000 pounds, we will cap it four times your salary. market review. danny alexander came into our offices in new york. he is number two at the treasury . he said, stop getting so carried away. >> you do see pressures in the housing market. that is one part of a much larger u.k. economy. house prices are well below where they were back in 2007. by 2018, it will not have reached the levels of back then. >> the real balancing act is how do you quell the prices in london. it is like trying not to throw out the baby with the bathwater. the housing market improves, i spend more money. you do not want to quell that overall things are feeling better and the u.k. economy. what we are doing, house prices up by 11%. things are coming off the boil.

let's look at how mark carney is affecting the housing market.s that there might be easing in house price exuberance , shall we say, whether we call it a bubble or not, we are seeing that the bank of england has legal right to crimp mortgage lending. that could affect house prices. that could affect house to the clippers. is one of the key losers on the stoxx 600. >> here are some companies on the move today. must reducey they the cost of the wind turbine to the more relevant in china. tas is, ves targeting india and brazil. france's economy minister says he wants to keep alstom intact. in an interview, he said he wants to keep the company in its current form through an alliance. he cited mitsubishi as a serious alternative. ge pledged to create 1000 jobs in its bid. airbus says it will keep an 80 to play in order from kingfisher airlines on its books. there is still a chance the carrier might find a buyer. the list price for the airliners is $6.8 billion. airbus suffered a loss this week when emirates scrapped a $16 billion deal. the polls is co

stay tuned. ♪ mark carney's housecall. protecting britain's recovery.ng in his news conference and his thoughts live this hour. >> the new york attorney general sues barclays for lying to its investors. good morning to our viewers in europe, good evening to those in asia, a very warm welcome to those waking up in the united states. >> this is "the pulse" live from london. presentcarney is set to the bank of england financial stability report in half an hour's time. manus cranny joins us now with what we can expect. >> the hint is in the title -- stability. i, asity for you and buyers of mortgages. this challenge is that the housing market has been roaring, but if you look behind the numbers -- fourth consecutive decline in mortgage approvals. the people who need money to buy houses, it is beginning to slow down. what he has no ability to control our altra hi, ultrarich people coming in with cash. to invest.ng in mortgage market review has come and been. we have had that. mortgage approvals are dipping. prices are on the up, but the objective here for ma

we've got mark carney's testimony this morning at 10:30 cet. how is he going to justify that shift to a more hawkish start we got on june 12th? and, of course, dollar/yen, we were talking about this earlier on the show. we're waiting to find out what abe can do. >> that exactly is the big story. that's informing the trading session for the nikkei 225, tokyo equities so broadly. ending fairley flat. the markets are looking for some spans and some clarity later on today. about half an hour or so from now, we should hear from the japanese prime minister on the third face of this longer term economic program which could include a phased tax cut, pension reform and also some other longer term economics including possibly more flexibility in the labor market. that's going to be a very tough sell from the union's perspective in japan. so deeply entrenched interests there. the nikkei backing away from five-month highs at the settlement. the kospi strong, the outperformance factor up by 1%. the shanghai composite stable at 2033. but the s&p/asx 200, got

mark carney started off with his view. his view was about wages. are the there with him. , so far,d moderately when it comes to spare capacity -- that is the great debate. the rate of slack. the momentum we expected to see in the second half -- spare capacity was 1% to 1.5%. he doesn't dissent. -- miles says that this spare capacity is at the upper end of the range. that there is saying is a danger in being precise, overly precise, but there is more spare capacity. , forwardsue of slack guidance is now. forward guidance right now is the debate about slack. let's have a look at the markets right now. have a look at dollar sterling. also, you and i have looked at this on a more regular basis, we have looked at short sterling. the price of money on a three-month guide. it is a contract table. the price of money in march, june of next year. is not a radical shift. but we are seeing futures moving. but seven look at dollar sterling -- let's have a look at dollar sterling. we are seeing a bit of reprieve in these markets. that is the issue with spare cap

bank of england governor mark carney. it should have been centered then financial markets currently expect. -- it could happen sooner. oil rallies as insurgents pture two key cities. elon musk says his patents will be open-source and free. welcome to countdown. i'm an edwards. bloomberg reporters are standing by ready to deliver the stories of will drive your day. caroline hide his year with a look at mark carney's warning to .nvestors ryan chilcote is following the u.s. response to rising instability in iraq. his own way.going hans nichols is in berlin to see why the move may use tesla. the bank of japan sticks to its stimulus plan. john dawson has the latest details from hong kong. that could threaten britain's recovery and rate hikes could come sooner than markets currently expect. that's the warning mark carney gave it the annual mansion house address. business correspondent caroline hyde has been following the events. good morning. how soon will the rates rise? it's the impossible question. stands atmoment it april n

mark carney appears before parliament later today.ected be a grilling for the governor of the bank of england. manus cranny is back with the details of what we can expect. the expression that he flip-flopped. the process. what are we going to hear today? going to hear some justification and clarity. justifying why forward guidance is a fluid, changing policy. some of the conversations we have had is saying no rate hike and the governor never said it would fundamentally change the respective when he would change it. inflation is still in check and that was required. you have mark ingram, always playing catch up. ever-changing forward guidance. >> he was questioning the forecast on which of the forward guidance was based and the first place and others will question the forecasting ability. very fair point. the record has not been great when you have that amount of people helping. and clarity and credibility. governor mark carney is said they, anytime he sun will shine, the sun will shine. it is about credibility. it is an evolutionary p

after mark carney indicated we could see rate hikes comer sooner rather than expected. now repricing from the second quarter of next year to the first quarter right now. quick check on the commodities markets in particular, too. we saw 2% gains in brent yesterday, we're adding to that again trading just over $113.50 for crude. gains across the board for these commodities also. >> president obama said he's not ruling out air strikes to aid the iraqi government's fight against insurgents marking a potential u-turn after pulling u.s. troops out two years ago. >> i don't rule out anything. because we do have a stake in making sure that these jihadists are not getting a permanent foothold in either iraq or syria for that matter. >> republican senator john mccain criticized the obama administration saying there was a lack of foresight in the troop withdrawal. >> it is clear that this decision of a complete pullout of the united states troops from iraq was dictated by politics and not our national security interests. i believe that history will judge this president's leadershi

mark carney is the governor of the bank of england.ike length night -- last night. it is where he didn't. next to a building and bloomberg news headquarters in london. describinghistory, the pageantry behind the speech that the governor gave us. you need someone from london. jonathan ferro gets it. >> it is a massive deal. i have never been to it, you have. it looks a bit pompous and pretentious. what he did last night was key. it is my morning must-read today. 12 page speech. paragraph. already great speculation about the first rate hike. we knew that it would happen sooner than markets currently expect. this is the take away. 12 months on the job -- he tells the british people. rates will stay low, until 2016. less than 12 months later, we're looking at early 2015, lay 2014. what does that mean for the fed? >> mario gabelli, will we see this replayed in washington? is the fed going to move sooner than we expect? >> i would like if the market keeps going up. that would reduce the market requirement to take some of the steam out of spe

mark carney said a raised increase could come sooner than expected.talian prime minister will meet with the european council president in rome today. one topic will be italy's austerities -- austerity measures. the imf says the economic recovery remains fragile. >> the government has made some very bold and ambitious agenda proposals. the key here is to implement them quickly and decisively to strengthen confidence. >> oil exports on both northern and southern iraq are said to accelerate. data shows exports from government controlled ports in the south will be 11% higher next month versus the yearly average. officials in the north plan to double crude exports next month. for more on the outlook for oil, i am joined by our next guest. let's talk about the outlook for oil. give us your assessment of how much or how little the oil production is going to be impacted in iraq by what we are seeing on the ground. >> absolutely. there is no doubting the belowground potential. the challenges are above the ground. these fault lines have been a place for some ti

mark carney is now speaking.in. >> by doing so, the fbc can allow the mpc to focus on its primary objectives when achieving price stability. and it's not the fpc's role to control prices, nor can it address underlying structural issues related to the supply of homes. our roles includes the build up of credit growth. the process speths for households concern us. uk households that make progress in retaining the balance sheets start from a vulnerable position with debt at 140% of disposable income. the shares high loan income ratios has increased markedly over the past year to a record high. given the momentum in the housing market and the underl underlying footage of housing supply, it's likely the trend will continue. the s.e.c. does not believe household indebtedness poses an imminent threat to stability. these families are more responsible than they were in the past. how, as we've seen time and again how quickly responsible the uk economy. the fcc is concerned an associated significant increase of highly indead

has a same opinion about bankers that don't fulfill their promises so austria will say you know mark carney you owe us our gold you sold it to asia mark are you going to say well we we don't punish bankers in england and us you say ok then we're declaring war on britain how about that for our gold and then it's off to the races which is always the case this is a world war start britain sold austria's gold they sold germany's gold europe and now needs the gold because of the hyper inflationary money printing by the central bank so let's go to war in that case gold is going to do very well. but but let's do it let's get it done john kerry get your swift boat out it's time to man up get to the. frontline or. kerry remember the price on june twenty seventh two thousand and twelve closed at fifteen seventy three fifty so he needed to get it down below fifteen fifty eight fifty so he managed to do that but remember one of the things are going with that naysayers against gold rigging argue all the time is that you can't possibly rig the market because for every buyer there needs to be a seller and

mark carney said that the rate increase could come sooner than expected.on rely on anti-trust rules to curb google's search engine dominance. they said that the eu cannot just break up the company. >> europe cannot unravel chinese, american, indian, or american companies. what kind of legal system would that be? that would not work. >> let's go behind the growth. charles allen is here. a retail analyst for bloomberg industry. in case you did not know, it is a team of 140 analyst that provide mobile research and eta on 100 industries. -- data on 100 and is research and data on 100 industries. what is the secret to h&m's success? >> the secret is the profit increase. it was cost control. they have been investing in loads and loads of new things. brands, things like that. that ways into the cost and the margin. intoleveraged -- weighs the cost and the margin. they leveraged. is big secret of the success trend fashion in the big brand and doing different things with the new brands that they have. >> what about the margin? a decline there. >> it came down a lit

suggesting investors overreacted to what mark carney said. what mark carney did was deliver it and in a speech, it was not an off-the-cuff remark. it is a rapid turnaround. you see it moving the pound sterling writer. ,eeping an eye on brent crude $113 a barrel. stories making the front page, we need to start with iraq. troops trying to halt the advance of sunni rebels who have been capturing chunks of northern iraq. they were on their way to baghdad, that has slowed down. iraq says forces have killed hundreds of rebels. >> the pictures over the weekend that have come out are distressing. >> gruesome. >> was the reaction? the west is heavily politicized, the u.k. in the u.s. do not want troops on the ground. but do they want to let instability spread, they have got to do something. >> with something like this, talking about the reaction in the u.s., there are two ways to think about it. you think you can do something or you think you can look like you are doing something. i don't think the u.s. is doing anything other than looking like it is

i have a big issue with there is nobody out there that can absolutely with any authority, even mark carney the markets. nobody has a clue. we have never had this quantitative easing before. will janet go for a full carney? line of the day. have a look at my twitter account. >> we are exactly where we started before these minutes came out. >> yes, it will come down to janet. >> we will have plenty of coverage of that here on bloomberg television. >> gradual rate hikes. the market has repriced quite significantly over the last couple of days. >> yes. >> you have to be thinking that increasingly the expected rate curve, rate path of the u.s. is going to be much shallower than we anticipated and probably peak lower than we anticipated as well. the market is continuing to price that story in. >> the market is currently foring in 0.6% -- 0.75% september. the market is pricing in 1% for the semper. this is short sterling in the u.k. saying, 1% for december and it is saying by 1.15%.f next year, go figure on your mortgage. do the calculations. >> we will talk more about what is happening in the u.

so it kind of follows what mark carney was saying about the fact that we could see a rate hike earlier than the market is pricing right now. >> yeah. i think the market is aggressively, now after carney's recent speech pricing that rate hike towards the 2014 bank of england inflation reports. so perhaps at the november meeting at the latest. i think that's pretty much priced into the curve. so we have a pretty aggressive market here in terms of what the bank of england is going to do. >> that's the point, isn't it? because these minutes are two weeks behind the curve. the bank has caught up and gone beyond these minutes base odd what cornerny said. >> yeah, i agree with that, as well. perhaps these don't include the newest payroll reports and the drop in the unemployment report. from here, i think we'll be highly dependent on our assessment of what the bank of england is going to do next as much as expecting anything perhaps the august quarterly inflation report. >> is all of this consistent with inflation trading around 170? >> i think the current picture having sterling versus the do

the point where you have to ask yourself are these social banks even sent into human beings is mark carney even a sense and kind of human being or see an automaton it's a machine is he like that movie westworld of your brain or where he rips off his face and you see the inner workings of a machine the machines are winning let's go back to what your opening was it's a quote from oppenheimer when he created the nuclear bomb and the reason why he created the nuclear bomb was for the government in order to save the world from a war world war here we have central banks i am become death i am destroyer of markets because they had there was a financial war and they thought that they were saving the markets by creating this you know their intervention their nuclear bomb of policy and it's actually like nagasaki and hiroshima you see just frozen consumer bodies out there nothing is moving and they're still like dropping more bombs on these people hoping that they reanimate them and they go shopping maybe one day but here we have even the bond market just supposed to be the most liquid in the world

but in the end, let's look at this relationship and mark carney really opened up many people's eyes andut the pound hasn't fallen much, in his statement was that central bankers including janet yellen will kind of lost when it comes to when to raise rates or how far or how fast to raise rates. this is the quid pro quo. if you have a stock market that's sending a message, whether they're synonymous or not, at lofty levels, that's the part that investors and hedge funds are not going to squawk about much. on the other hand, what do the central bankers get? they get low rates. why is this so important? because we basically spend about $225 billion to service our debt. that's debt at these levels. think about the scale of europe or spain or portugal or italy or what's going on with, you know, 50 something basis points in japan where they have debt to gdp of 225%. so in the end the game will go on until one of these signals breaks. and in my opinion, you want to watch rates the most because if rates don't play along with the quid pro quo to the central banks, that message is going to come qu

why has mark carney changed in a matter of months?mer members yesterday and he was saying, there is no real .age growth >> we are seeing something similar in the u.s.. growth is up 2.1% but if you look at inflation, inflation is still up 1.2%. power,eing that buying that will make it tricky for the fed today. >> janet yellen has gone on and on about wage growth. what the fed says and what the fed do has been two completed of the things. they continue to do something else. you will not find a single trader out there. because janet yellen is looking at one thing and it does not change are trying to normalize policy at the same time. i am asking what i should be looking at. talk to anyone in the market what should i be looking at? the dot plots do not matter. do not put them there. you are just having me a lot annoyed. get rid of them. let's come out and saying, trading down in revision growth from the fed. rate expectations based on the fact we have seen it trickle-down to. >> in quick summary, the fed hascast has intelligible -- been t

now mark a lot of people are looking at the recent hawkers comments by bank of england governor mark carney and thinking it also has implications for the fed do you think carney's talk of raising rates quickly is significant. i do think that carney and i t's my wife and i think i'm the luckiest man in the world but between really i really think it's mark carney he left the bank of canada and just as the canadian economy was weakening housing market bubble came to the fore he goes to the u.k. stance of the east policy but he finds out the british economy was already on the mend before he got there and so i think carney had given the market some forward guidance suggesting that the u.k. was not going to be in a hurry to raise interest rates and most recently it looks like he changed tone but it came not just back because of carney but several other members of the monetary policy committee at the bank of england also seem to be becoming more hawkish and so i think that carney carney's comments were important and i think they would this is what helped lift us to these levels but i think again i

we had the mark carney -- mark carney testifying yesterday. did he seem like a dove, a talk?> i think he is trying to muddy the water. yes to run a very straight part because he cannot spook the market. >> is he trying to bring volatility back to markets? >> probably. central banks have been the game of inflation. i think that he is trying to muddy the water. this, to about unreliable boyfriend, making the news, but i think people are anxious about that first day and interest rising. the big story is getting into play, which is more important rather than the first instance of red rising. i don't think he is going to risk the growth and probably he will drive very stiff line. >> we were having a chat about lack of wage growth whether you look at the u.k. or u.s.. we spoke to -- earlier on who was telling us that part of the problem with forward guidance is that they put all the eggs in the basket of the unemployment rate. unemployment rate came down but wages did not increase. that seems to be persistent. >> if you look at u.s. data, the is worth of household debt anyone trill

pressure is growing on mark carney to tighten. all but a foregone conclusion that mario draghi will cut rates. what does a stronger pound mean for the outlook of interest rates? >> that eases the pressure of the bank of england. he keeps a lid on inflation pressures. >> low rates for longer? >> there are some divisions occurring within the committee. any signal that inflation pressures are not going to be running away gives them a little bit more confidence that there -- that risks are not getting out of control. >> if that's what the bank of england wants to see? >> there is another issue going on and that is the balance of how growth place out. consumer lot of spending lifting the housing market and there is a push to move away from that. it undermines or puts roadblocks in front of the project. the housing market is a big source of concern. it could be the biggest threat to growth because it is too hot. the housing market today is enough to prompt a rate increase? >> the bank is committed to the view that monetary policy is the

that follows remarks by mark carney. sooner rates may rise than expected. investors are waiting to hear from the federal reserve today. thet yellen will hold second news conference as chair of the fed. first is unveiling its smart phone. it is said to have a 3-d screen. at&t will be the exclusive carrier in the united dates. that is the same role at&t played when apple's iphone was rolled out. a rare stamp sold for $9.5 million at sotheby's. the buyer, not disclosed. the seller was the estate of john dupont, who died in prison while serving time for murder. let us go back to this question of investing at a time in changing monetary policy. you heard what mark carney and other governors of the bank of england have said about interest rates. we will get a sense of how the interest-rate setting panel of said officials feels today at 2:00 p.m. mark is the head investor of a million dollars in capital. it you invest with other managers and have to make decisions about how to allocate your investments, whether you're going to invest in funds and with managers tha

he will be joined by the bank of england governor mark carney letter should i.asury working to develop regulation. >> looking for to your regulation, caroline hyde. the world cup begins today, host nation brazil plays croatia and opening match. you are looking at live pictures from the studio in sÃo paulo, where the game will take place. still the middle of the night. organizers have faced has received over preparations for the tournament but investors are viewing the country as an opportunity. ryan chilcote joins us with more. billion,uestion, $11 will it be worth it? >> even that picture tells the story. it looks grocery. dreary.oks 3 billion people are going to watch the world cup. >> half the planet. >> a billion of them have watched negative coverage of brazil's preparation. they have seen the slums. people-up to the cup, have come away with that the country is a dump. the contrarian says this is an opportunity. is very negative on brazil and sent a team in january saying it is not as bad as we thought, negativity is market,n to the stock which is down by a

mark carney announced precautionary measures.think what the economy is telling us, we just had the confirmation of that 0.8% growth figure. gdp is consistent with what is going on in the housing market. the level of interest rates seems to the too low. i think the mpc needs to start addressing that issue and start raising interest rates like they said they would like to do. findey don't do that, they themselves behind the curve. >> when do you think we are going to see an interest rate hike? >> i think we will see the first rise later this year. if we continue to see good numbers, the labor market looks relative or strong, so i think that all points to the economy continuing to grow. when a 14 on average will be the strongest g7 economy in the calendar year. i think this -- we have come to the point where we need to stop talking about raising interest rates and do something. >> it seems to be a great vindication of george osborne's austerity package. you say the labor market appears to be relatively strong. it sounded to me like

bank of england governor mark carney is speaking right now talking about stability within the u.k. financial system. >> it has moved the sterling? >> yes, a stronger sterling. there he is again speaking to u.k. lawmakers about stability as well as housing in the u.k. in the u.s., we got several economic indicators coming out at 8:30 a.m., initial jobless andms, personal income spending. reaffirmed of great caution. there is a huge optimism out there. >> health-care costs is driving gdp in the first quarter. at 11:00, we got the kansas city fed manufacturing activity. a lot of economic data and we will keep you up on that and earnings coming out for the bell, lenhard, conagra, and nike after the bell. lennar came out and second quarter earnings. at 12 noon for the entire " the merger surveillance" team, terminal training class. coincides with usa versus germany. president obama will speak in minnesota at a fundraiser. secretary john kerry is in paris for middle east talks. what else do you need to know, soccer? >> do we have a chance? there is a 72% chance the usa can advance into t

. >> mark carney, a sense they can keep warm and also to finish their expectations.ut at the end of the day, they'll be interested to see what happens. it's quite good. currency goes up. slight tightening bias, anyway. we can leave rates on hold for perhaps even longer. but the other key thing today, you have the meeting and this is key. a lot of people in the oil market haven't gotten their heads around the importance of the committee meeting. george osborne has given them the green light to take it up on equity ratios. so at the end of the day, we'll see something coming out of that and the we have three new members of the mpc. >> so three new members, the bank of england demand and given what we've heard from carney, perhaps acknowledging that perhaps the rates needs to be higher as far as the market is concerned, is there anything as far as the markets are concerned? >> well, we even heard suggestions thinking there can be a three-six split. we don't see a thing in the scenario. obviously, it could mark and move to vote for ratewise. there's another uncertainty.

cults that they've become like the charles manson of central bankers in a squeaky fromme is really mark carney is really squeaky fromme you know he runs the bank of england but he's part of a suicide cult you know the sharon tate world sharon tate now going to get our throat slashed by these irresponsible central banking terrorists again they're all focusing on asset prices not on labor not on wages and even j.p. morgan looking at europe it is. what amps are assets that's why they focus on assets so even j.p. morgan looks at japan and they see that the problem here price hikes without confidence that wages are going to rise will hurt appetite for spending said a doubt she senior economist at j.p. morgan chase and company in tokyo ave has to raise people's belief that the economy will improve meaning their own wages but their wages aren't increasing because again we have i don't know what is beyond. bizarre that we raise it is that every every solution to that. is that how we're going to raise wages if there's no leverage for. business to make twice a day they need higher wages well they're not

a look at mark carney's speech. a rate hike at the bank of england could be higher.does that mean for the fed next week? if the bank of england can change language that rapidly, will they do that down in d.c. as well? on the s&p 500, three days of losses. happy friday. >> thank you. markets reporter jonathan ferro. let's count down to the open with the top 10. these are the only trades you need to know about. john stays. julie hyman joins me. tesla.10, the electric carmaker offering its patent to any company that wants to build vehicles. opening up its patent. elon musk said that inventions on electric cars will be free for anybody to use in good faith. cracks disney -- >> disney expects global sales on its infinity videogame to reach $1 billion. >> morgan stanley is at number eight. organ family sold its independent wealth business in mumbai. number seven. facing a lawsuit claiming the company violated customers privacy rights for marketing purposes by accessing their external e-mail accounts and downloading their contact addresses. this company is trying to buy the

economy has taken many economists by surprise, including mark carney. london's thriving tech hub has helped to propel this turnaround . the u.k. is taking on silicon valley. some surprising findings in this report. i could not believe the job creation. all of the growth we are seeing in london does seem to be propelled by technology. 30%, almost a third of the new jobs have come purely from technology. we are looking at the southeast. almost three quarters of a million people. the pace of growth is about 11%. outstripping the pace of growth in california, the likes of silicon valley and san francisco. this is why we are getting google blushing a billion pounds on an office. it to techtracted city is that we are close to universities, and you have the pool of talent, you have media companies, government that want to use the data, the analytics. the compliment tree services we have in london. -- we'llis is helping be hearing the interview between boards johnson and -- boards johnson and mike bloomberg. interview, mike bloomberg talks about the fact that w

todayaks in london alongside mark carney.mf has issued a warning about the global housing market. is is policy makers must take more steps to prevent another property crash. there sure in that house prices are well above the historical average in many places. the bank of france governor says that the u.s. investigation into bnp could backfire. it is said that it may encourage companies to stop using dollars in its national transaction did these remarks of the strongest yet from french authorities protesting against possible fines that bnp faces. >> google is being swamped with requests from europeans for the right to be forgotten on the internet new law. we are joined by the executive director of open rights group. the group lobbied for a more transparent digital society as well as one that upholds users rights. thank you for joining us. where do you stand on the debate between the right to be forgotten and the right to access an uncensored web? where are you? >> right in the middle. [laughter] freeally campaign for speech an

. >> one of the big headlines last week was mark carney of the bank of england changing is line whichtoo signal interest rates will rise sooner than people expect. did he change the way they communicate to investors? >> there is this fishing expedition to some extent by the central bankers for transparency. transparency.ive in theory, transparency is a good idea but in practice, you can get tricky. you have a lot of voices out there. i think that can add to the confusion of this process. it is important is to focus on a few key members. i think that is generally worry we'll get the path of policy, the direction. >> thomas porcelli with us from rbc and morty singer. 2:00 pm, i'm thrilled to join mark crumpton will have our coverage, our special coverage of the federal open market committee rate decision and chairman yellen has a news conference along at 2:30. that will always make headlines. particularly with the imf has done on a very cautious outlook. it will be interesting to see where the chair, the president, and the governors lineup at the fed. >> what will she say about inflatio

zillah will stop the globe and crave unprecedented nightmarish economic hardship as being fed by mark carney janet yellen mario draggy the central bankers and their theories about deflation which have been discredited on the show over and over over again how many times are deployed up there to get there is a very strange thing where you really gauge your percentage of traits you're causing the very thing they say you're fighting and then what's gonna happen is out there in tokyo tokyo is going to be like oh everything's great at. the bottom. will stalk the good buzz. the table there's a shell this is the kind of damage a bunch silicon do this is what fun silicon do to the global economy you keep interest rates too low and too low for too long. ok ok down now the article then goes on to point out that the danger of this to the investment market the flows on both the buying side and selling side continue to fall so takehiko you've seen oh the chief fund manager at mitzi who trust a banking company he said falling volatility is a very serious problem for traders and dealers who are on able to g

cults that they've become like the charles manson of central bankers in a squeaky fromme is really mark carney is really squeaky fromme you know he runs the bank of england he's part of a suicide call you know the sharon we're all sharon tate now going to get our throat slashed by these irresponsible central banking terrorists again they're all focusing on asset prices not on labor not on wages and even j.p. morgan looking at europe if you look. assets that's where they focus on assets so even j.p. morgan looks at japan and they see that the problem here price hikes without confidence that wages are going to rise well her appetite for spending said a doubt she senior economist at j.p. morgan chase and company in tokyo abbay have to raise people's belief that the economy will improve meaning their own wages but their wages aren't increasing because again we have i don't know what is beyond their plates it's something so bizarre that we. can't raise wages that every every solution to how going to where we were as i was going to raise wages if there's no leverage from wage earners it's like sayin

don't trust each other and that's why nobody is in the market but janet yellen and mario jackie and mark carneythose are the only people in the markets are those people because they're the ones that are rigging the markets now also. wall street examiner when looking at the story points out here this banker doozer saying well we're it's not like we're driving bus loads of kids over the cliff but they point out that there is the fact that one of five children in the u.s. now lives below the poverty level the latest data available shows there were one point two million homeless students during the two thousand and eleven two thousand and twelve school year a ten percent increase from the previous year and a seventy two percent jump from the start of two thousand and seven two thousand and eight an all time high so they are driving people off the cliff it's just not as obvious to many people to the administration and the bankers other services are creating wide scale poverty on a scale that you'd have to go back to the civil war to find a similar unbelievable surgeons in poverty due to the same kin