ladies and gentlemen, mark carney. [applause] >> thank you very much, 10.hank you for taking a few moments before lunch, it is a tad. i wanted to come back to the iis washington policy summit. i was last here to similar gathering in 2011, which was very early in the international financial reform ross says. for the iis that bad time with a lot of and research about the issues at the time, there were three major concerns about that reform process. the first was whether or not reforms would be consistently implemented against the g20. secondly, regulatory arbitrage, particularly in shadow banking. and thirdly whether the reform process is held with repair the recovery is just beginning at the time. i'm going to start by suggesting that those debates i would suggest have been largely settled and settled to the positive. the international minimums panders that have been agreed through this g20 fsp process are being barred large consistently and promptly implemented into major g20 jurisdictions. you don't have to just take my word for that because the progress i

philip hammond and mark carney, they are trying to lay foundations for any future trade deals.gue that some would see a future trade relationship as fairly slim for various reasons? absolutely. there are many sticking points between the countries. many are looking at the two countries as natural partners given the historic relationship, as well as common ground in terms of business. english is a common language. a lot of indian companies naturally go to the uk as a senator for the rest of europe to read. that is likely to change. —— centre. the visa is a big issue, especially for indian students. one analyst said it almost seems as if the uk once indian business but not indians. that is a perception mr hammond will have to change. consistently india has refused to lift restrictions on professional services like banking accounts, insurance. that is something the uk sees as its strong point and wants india to open up. it will be interesting if he can convince people that the uk can offer the services and india must open up. real negotiations will only start after the brexit proce

philip hammond and mark carney are in mumbai meeting indian financial tech firms and the head of india'sforeign trip since article 50 was triggered, starting the process to take britain out of the european union. sameer hashmi is in mumbai. lovely to see you. tell us a bit more about today's agenda. well, the chancellor will be attending a couple of events with the underwriters come with. he is attending an event where they will be talk about start—ups, after which they are addressing a conference that will have business leaders from the world of financial services. you we re the world of financial services. you were referring to the uk being the biggest exporter of financial services. so they want to pitch that is one big industry where the uk and india can really partner. because india, as you know, is a growing economy, that is trained to grow its digital base across the country, and the uk is trained to say that they could partner with india to meet those aspirations, particularly when it comes to digital rollout across the country. and so, this is very important groundwork that is g

meanwhile, chancellor philip hammond and governor mark carney are going to india. come hot on the heels of the u.k. formally triggering the u.k. exit with the european union. ust -- our guest joins us. are they going to have any luck? >> these relationships a reasonably strong. they have been historically. the let me say this clearly -- the delta from change in relationship with emerging markets is going to be nowhere close to the loss for the relationship with the eurozone. it cannot compensate for that. also remember that they have things that many emerging market countries won't. that's precisely what this administration is sensitive about. come.mprovement may not it may restrict a degree of improvement in trade between emerging markets in the u.k. that's going to be quite important, because all the data is up from the u.k. for the considerable length of time. that happened because we have taken on much more leverage in the u.k. than other economies. we have gone from a high level of leverage -- at this point, i think they should be getting concerned, because th

chancellor philip hammond and bank of england governor mark carney are among the big hitters headingou take that extreme that does have significant and potentially negative impacts on some of our countries operations. particularly bull gar c and greece. if it is a milder brexit, if it makes some contributions to the eu budget then the impact is actually marginal actually. chancellor hammond is bringing a large delegation of british businesses here to drum up the trade in india. do you think india can fill in that gap asa do you think india can fill in that gap as a strong business partner for the uk? it can. they used to depend 10 or 15 years ago as western europe as their economic locomotive. you saw a lot of supply industries growing up, serving the german, french, italian and british markets. that‘s changing as these countries look to asia, including india and to the gulf and to the far east for new sources of investment. india was seen as a large recipient of international aid, do you think that could change and india could become a significant donor? india needs to bea a signifi

he leads a delegation of business leaders, as well as the governor of the bank of england, mark carney to fund the estimated £1.2 trillion of spending needed to modernise india's infrastructure. the government also hopes to use the trip to open new markets in india for companies like transferwise, part of britain's rapidly growing financial technology or fin—tech sector. all of this forms the backdrop for a comprehensive free—trade agreement which britain hopes to sign with india once it formally leaves the eu. but that won't be easy — india has yet to sign any free—trade deal with anyone and one stumbling block could be a demand by india to allow its citizens free movement to and from britain. the parents of a baby with a rare genetic condition have reached a £1.2 million crowdfunding target for him to have pioneering treatment in the us. connie yates and chris gard's son charlie, who is nearly eight months old, is receiving 24—hour treatment at london's great 0rmond street hospital for a rare genetic condition. doctors say he should move to a palliative—care regime, but his parents a

he leads a delegation of business leaders, as well as the governor of the bank of england, mark carneyf london to fund the estimated £1.2 trillion of spending needed to modernise india's infrastructure. the government also hopes to use the trip to open new markets in india for companies like transferwise, part of britain's rapidly growing financial technology or fin—tech sector. all of this forms the backdrop for a comprehensive free trade agreement which britain hopes to sign with india once it formally leaves the eu. but that won't be easy — india has yet to sign any free trade deal with anyone and one stumbling block could be a demand by india to allow its citizens free movement to and from britain. a huge inquiry into child sexual abuse by members of the catholic church is drawing to a close in australia. the four—year long inquiry, which has uncovered more than 8,000 abuse survivors and heard allegations against more than 500 priests, is being closely watched by the vatican. from sydney, hywel griffith reports. shining a light on australia's most trusted institutions. for some, th

also from comments from mark carney. a weaker euro against the yen and the dollar.rg. ♪ vonnie: it's 11 a. in nork. 4:00 p.m. in london and 11:00 p.m. in hong kong. 30 minutes left in the equity trading day in new york. from london i'm nejra cehic. vonnie: from new york i'm vonnie quinn. [captioning made possible by loomberg television] vonnie: we'll take you from new york to london in the next hour. plus covering stories out of syria, china, and bens knows air rest. here are the top stories from around bloomberg and around the world. the u.s. launches missile strikes against syria sending 59 tomahawk missiles toward a syrian air bass. we have the story covered from all angles from russian reaction and others. vonnie: the meeting with his chinese counterpart, is he pressing zi on critical issues such as trade? and south africa is hit with another credit downgrade. cuts the nation's debt to

he leads a delegation of business leaders, as well as the governor of the bank of england, mark carneyg that indian companies will use the city of london to fund the estimated £1.2 trillion of spending needed to modernise india's infrastructure. the government also hopes to use the trip to open new markets in india for companies like transferwise, part of britain's rapidly growing financial technology or fin—tech sector. all of this forms the backdrop for a comprehensive free trade agreement which britain hopes to sign with india once it formally leaves the eu. but that won't be easy — india has yet to sign any free trade deal with anyone and one stumbling block could be a demand by india to allow its citizens free movement to and from britain. a former government advisor is calling for a change in the law to force doctors to tell the authorities when a patient is no longerfit to drive. the campaign started after the death of three—year—old poppy—arabella clarke who was killed crossing the road by a pensioner who'd been warned to stop driving because of poor eyesight. barrister daniel

he's there with mark carney, governor of bank of england and other financial sector leaders.s been meeting india's fintech community and the head of india's cental bank. sameer hashmi is in mumbai. tell us more about how it is going today. well, we are here at a company in mumbai. the chancellor visited this place a few minutes ago. hejust left five visited this place a few minutes ago. he just left five minutes ago. he interacted with different start—ups, the start—ups are operating in the financial services space, that's one area where this delegation is focussing a lot because they have been trying to tell the indian government that that's the area where uk and india can work closely. later in the day the chancellor is also going to be meet the governor of india's central bank. he is addressing a conference where business leaders from both sides will assemble. they are going to talk about financial services. so clearly, lots going on, but the main thing is that once post brexit, when these two countries start negotiating a new deal, that's when the pressing issues will com

he leads a delegation of business leaders, as well as the governor of the bank of england, mark carneyindian companies will use the city of london to fund the estimated £1.2 trillion of spending needed to modernise india's infrastructure. the government also hopes to use the trip to open new markets in india for companies like transferwise, part of britain's rapidly growing financial technology or fin—tech sector. all of this forms the backdrop for a comprehensive free trade agreement which britain hopes to sign with india once it formally leaves the eu. but that won't be easy — india has yet to sign any free trade deal with anyone and one stumbling block could be a demand by india to allow its citizens free movement to and from britain. the headlines on bbc news: a state of emergency has been declared in colombia after more than 250 people are killed in mudslides; many more are missing. police in croydon are treating a brutal attack on a 17—year—old kurdish—iranian boy as a hate crime — six people have been arrested. a teenager whose mother and brother were stabbed to death at home sa

he leads a delegation of business leaders, as well as the governor of the bank of england, mark carneys week, hoping that indian companies will use the city of london to fund the estimated £i.2 trillion of spending needed to modernise india's infrastructure. the government also hopes to use the trip to open new markets in india for companies like transferwise, part of britain's rapidly growing financial technology or fin—tech sector. all of this forms the backdrop for a comprehensive free trade agreement which britain hopes to sign with india once it formally leaves the eu. but that won't be easy — india has yet to sign any free trade deal with anyone and one stumbling block could be a demand by india to allow its citizens free movement to and from britain. the issue of pre—movement is dominating the debate over brexit. people from the european union could still have the right to live and work in the uk without restrictions until at least 2020, according to a government minister. speaking on the bbc earlier this morning, the defence secretary sir michael fallon refused to rule out free

and saudi arabia, gensler philip hammond and mark carney are going to india. the heels of the u.k.ormally triggering two years of exit talks with the european union. michael phelan has says the british territory of gibraltar will be protected all the way as the country negotiates an exit from the eu. on the chart sovereignty -- global news 24 hours a day powered by more than 2600 journalists and analysts in more , you can findries more stories on the bloomberg at top . manus: the list on market, china is on holiday. back of that the survey. .1% -- .05%.up by and hong kong. a switch up on the close in australia. their clocks have changed. 58.61.flat at the meeting between the president and trump later in the week. the stocks are watching in the region, shiva may miss the earnings that line once again as soon as we thought toshiba had got its act together but the shareholder approver -- approval including westinghouse filing for bankruptcy. 42%, china is planning to set up a new area, a lot of construction players very strong. ceo.h scope has a new the cash expected to rate but i

mark carney was giving a major speech on the impact of brexit on the city of london.uk and european union were "ideally positioned" to strike a trade deal on financial regulation. he warned that continuing to cooperate was vital and turning inwards could mean fewerjobs, lower growth and higher domestic risks. average house prices were 3.8% higher in march than they were 12 months earlier, according to halifax. the country's biggest lender says that rate of growth is a significant slowdown — the slowest rate of increase for almost four years. house prices are rising at less than half the rate seen a year ago. last week, the nationwide said that house prices had actually fallen in the last month. britain lags behind france, germany and the us when it comes to productivity or output per worker. one of the reasons behind that could be digital skills. the british chambers of commerce has done a survey on this, which highlights just how important the internet is for all aspects of how companies are run. managing digital information and connecting through digital channels we

mark carney urges banks to consider a contingency plan for brexit.ou and larry fink talk about, contingency plans for blackrock? >> governor carney is saying repair for all potential outcomes. we have a situation where you could have a deal in 2 years, a long transition, or no deal. manus: a cliff edge situation? >> that is the most critical one because that will lead you into space where it is not clear how you go on. the prime minister emphasized no deal is better than a bad deal, so we have to think about a situation where there could he know deal. manus: disaster recovery, what does that force you to think about? relocating staff? >> the way we are set up, there is no urgent need to change anything. we have entities in europe, we conserve our clients. in a broader context we want to be closer to our clients any help. we spent a long trend to be closer to our european clients, that sector has grown in importance. we will continue that. brexit could accelerate that depending on the outcome. manus: before we started the conversation, deutsche bank g

stew -- whates the does this allow mark carney to do, can he do something about it?he goes on much the same. there is no need to do very much. , little bit of an inflation pick up we are seeing is transitory, it reflects the affect of a through week of sterling. demand is still weak and the labor market is going to be essentially not strong enough to suggest any sustained pickup in inflation so why would mr. carney need to do anything? there is no need whatsoever. we do not know the full implications of what exit will do. the risks are still to the downside. mr. carney will probably sit tight. manus: let's ring in our catfight columnist. you in a challenge for terms of a competitive market with food price inflation, the packages are getting smaller, it is a big challenge out there in terms of sustaining the consumer and retaining the consumer. andrea: it is. the ideal situation would be a little bit food price inflation. inflationm comes if starts to race away and they have a big dilemma because they want to raise prices and protect their margins but they cannot race

the city of london and financial markets has been cited by mark carney, for example.-ftly think we will is the most likely scenario. if we look at history, all the trade discussions take an awful lot of time. it's not being sorted out and a couple of years, especially when you have all these things already put in place in the european union. i think were going to go into a phase of prolonged discussion and negotiation. higher uncertainty about the u.k., and all this is going to contribute to high volatility for cable and a higher euro sterling. anna: thank you very much for your time, we appreciate it. let's talk about the oil market now. oil extending gains today. u.s. crude stockpiles declined. tracy alloway who's watching the oil market. the mood has really changed compared to just a week or two ago. people talking about the demand story in the u.s. a lot more than they were just a few weeks ago. right.'s exactly we've had a pretty amazing turnaround in oil prices over the course of two weeks. think back 14 days ago, wti was it something like $47 a barrel. it's now

for example, mark carney and mario draghi have been saying repeatedly that they will look through theon glitch they saw a couple months ago. they are no longer seeing target inflation now. do you expect central banks to stay status quo here? >> yeah, and i think it's important to differentiate the federal reserve to the bank of england and ecb. if you think about a car analogy, foot on the accelerator versus foot on the brake, we still very much expect the ecb and bank of england to maintain their cautiously optimistic footprint on the accelerator pedal in terms of monetary policy and quantitative easing. we don't see any significant requirement to take that off. again, it's not just the inflation concern that the central bank would have, it's the stability of growth. if the platform of growth. we have some significant geopolitical changes ahead, either with the implementation of brexit and the european from a centralh bank risk perspective are very high in terms of what could force a destabilization or weakening of future growth. i think it is quite right that they are looking to sho

he leads a delegation of business leaders as well as the governor of the bank of england mark carney hoping that indian companies will use the city of london to fund the estimated £1.2—trillion of spending needed to modernise indian‘s infrastructure. the government also hopes to use the trip to open new markets in india for companies like transferwise, part of britain's rapidly growing financial technology or fintech sector. all of this forms the backdrop for a comprehensive free—trade agreement which britain hopes to sign with india once it formally leave the eu but that won't be easy. india is yet to sign any free—trade deal with anyone and one stumbling block could be a demand by india to allow its citizens free movement to and from britain. great britain'sjohanna konta is celebrating the biggest victory of her tennis career. it's her third world tour title, but easily the most significant. she won the miami 0pen last night in 100 degree heat, beating former world number 0ne caroline wozniacki in straight sets. it moves konta up to seventh in the world rankings. it's the most nota

that's the agenda for a team led by the chancellor phillip hammond and the bank of england governor mark carneycluding investment into india's rapidly growing energy and renewables market. and clicking their way into profit growth — online fashion retailer asos increased sales by 38% in the 6 months to the end of february — thanks to a boost in international sales. a weak pound since the eu referendum result has meant clothes on asos are cheaper to foreign buyers. us internet providers could eventually be allowed to sell information about their customers' browsing history. that's because president trump has signed a controversial order that scraps an internet privacy regulation. the law was introduced by president obama and limited the types of data internet providers can pass on without permission. the information includes location data as well as financial and medical information. joining me now is samira hussein from the new york stock exchange. there has been a lot of criticism of this decision to repeal this bill, hasn't there? yes, absolutely. so, the internet companies are saying, or rat

he leads a delegation of business leaders, as well as the governor of the bank of england, mark carneyping that indian companies will use the city of london to fund the estimated £i.2 trillion of spending needed to modernise india's infrastructure. the government also hopes to use the trip to open new markets in india for companies like transferwise, part of britain's rapidly growing financial technology or fin—tech sector. all of this forms the backdrop for a comprehensive free trade agreement which britain hopes to sign with india once it formally leaves the eu. but that won't be easy — india has yet to sign any free trade deal with anyone and one stumbling block could be a demand by india to allow its citizens free movement to and from britain. a former government advisor daniel sokol has backed a campaign calling for a law requiring medical professionals to report people unfit to drive to the dvla. the campaign started after the death of three—year—old poppy—arabella clarke, who was killed crossing the road by a pensioner who'd been warned to stop driving because of poor eyesight.

mark carney was giving a major speech on the impact of brexit on the city of london.ean union were "ideally positioned" to strike a trade deal on financial regulation. he warned that continuing to cooperate was vital and turning inwards could mean fewerjobs, lower growth and higher domestic risks. average house prices were 3.8% higher in march than they were 12 months earlier, according to halifax. the country's biggest lender says that rate of growth is a significant slowdown — the slowest rate of increase for almost four years. house prices are rising at less than half the rate seen a year ago. last week, the nationwide said that house prices had actually fallen in the last month. activity in the uk's industry and construction sectors fell in february, according to the latest figures that have just been released by the office for national statistics. it said unexpectedly warm weather led to the fall in industrial output, because it meant there was less demand for electricity and gas. the construction figure saw the biggest drop in almost a year — mainly because of a

chancellor philip hammond and bank of england governor mark carney are visiting india as part of a pusho build trading relationships in preparation for brexit. theresa may is in the middle east. she will be in saudi arabia later, extolling the importance of trade and security ties with the kingdom, britain's biggest trading partner in the region. her trip has been strongly criticized by the opposition leader, jeremy corbyn, on account of saudi's human rights record. under pressure to publish a thorough assessment of the consequences of britain walking away from the european union without a deal. house of commons brexit committee says her assertion that no deal is better than a bad deal is unsubstantiated, and failure to reach an agreement would damage both the u k and e u. still with us are the head of european equity strategy at j.p. morgan asset management, and the chief economist at capital capital management. nove capital management. how likely is no deal? richard: i do not think we know the answer to either of those questions, and that is a problem with a lot of the comment coming

marks 111 years since the deadly 1906 deadly san francisco earthquake and fire. the city leaders and community activists all gathered at exactly 5:12 this morning on carney street.s sounded and there was a moment of silence. >> we came out to celebration, you know, the continued resilience of san francisco and show our support for the people who have come before us and current first responders and city officials. >> the san francisco history association is planning to create a lasting memorial for the 1906 quake victims. 6,000 of the $22,000 needed for the project has been raised so far. >>> landmark health policies in the bay area. coming up next the proposed ban on flavored tobacco products and why city council is pushing for a change. >>> also our chief meteorologist bill martin is tracking the weather. he's back with the full forecast after the break. have assembled. spider-man... black widow... captain america... and eddie? so, what's the plan? breaking out the guardians, pal. come celebrate the all-new guardians of the galaxy-mission: breakout! during the summer of heroes, only at disneyland resort. hero up! >>> new at 10:00, the city of oakland has passed